Oil has been completely crushed after peaking this summer: much has changed since our last article earlier this year (https://bsic.it/oil-quo-vadis/). Weakness in the price of crude was triggered by fear of a global slowdown: China growing at its lowest rate since 2009 (only 7.3%), together with cuts in economic forecast Read more…
Banca Monte dei Paschi di Siena (BMPS) Market cap (as of 31/10/14): €3.11bn Banca Monte dei Paschi di Siena (MPS), Italy’s third largest lender and world’s oldest bank, has again become the center of discussion following the subpar results of European Central Bank’s stress tests released on October 26. MPS Read more…
US After turmoil in the recent weeks US equities are back to all-time highs. Very solid data on consumer confidence and a Q3 GDP growth rate print of 3.5%, above a lower forecast of 3%, propelled the S&P 500 to 2018.05. Not even the completion of tapering on Wednesday stopped Read more…
The Story Adidas Stock has been totally crushed since July, losing more than 20%, underperforming the sector. The down trend was triggered by a profit warning due to Russian Ruble instability and the restructuring of its Golf Brand “Taylor Made”. In particular Ukraine political instability in late summer led to Read more…
Fiat Chrysler Automobiles NV (FCA), Market Cap (as of 31/10/2014): €10.56bn This week Fiat Chrysler Automobiles announced its plans to spin-off Ferrari S.p.A. – a luxury carmaker owned by Fiat since 1969. The separation will be conducted partially through a public offering in New York, and possibly Europe, worth 10% Read more…
Chiquita Brands International; market cap (as of 31/10/2014): $676.30mln On Monday October 27th Chiquita Brands International (CQB.N) finally agreed to be acquired for $682mln by Cutrale Group and Safra Group. Therefore, shareholders will receive $14.50 for each of their shares in cash. The price offered is 44% more than Chiquita’s Read more…
Pershing Square Holdings Market Cap (as of 31/10/2014): $6.181bn Pershing Square Holdings, the hedge fund company founded in 2003 by Bill Ackman, the activist investor and Harvard alumnus who boasts a $1.2bn net worth, raised $2.73bn floating for the first time in the Euronext Amsterdam on October 13th. The fund, Read more…
This week, we are proud to publish a full report on GoPro, one of the best performing tech stocks of the year. In order to analyse and evaluate properly the Company, we thoroughly studied its most recent financial results and its business. We shortlisted the Company’s competitors, considering both the Read more…
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US US equities experienced a significant correction in their value during the week just past us. The S&P 500 went down by 3.14%, the Nasdaq Composite by 4.45% and the DJIA by 2.74%. No significant pieces of economic news were released during the week apart the minutes of the FOMC Read more…
After such a long period of quantitative easing, we have come to the close. The Fed will most probably end its asset purchasing programme this month, and the markets are trying to understand what will come next. The results have been barely rising real wages, quite low inflation, but a Read more…
HP; market cap (as of 10/10/2014): $62.52bn On October 6, 2014 the Hewlett-Packard Company (HP) released its plans to split by end of October 2015 into two potentially Fortune 50 companies: business-oriented HP Enterprise and personal systems-oriented HP Inc. The split is intended to be tax-free for the current shareholders Read more…
Rio Tinto Plc; market cap (as of 10/10/2014): £55.42bn Glencore Plc; market cap (as of 10/10/2014): £41.52bn Rio Tinto, the England-based second-largest supplier of iron ore worldwide, has rejected a merger proposal from the smaller Switzerland-based rival Glencore, preventing a deal that would have created the largest player in mining Read more…
Citigroup Inc.; market cap (as of 10/10/2014): $151.92bn On October 8, 2014, Citigroup filed for a $50m initial public offering of its subprime consumer lending business OneMain Financial. The $50m offering is just a placeholder amount, a figure used to calculate registration fees, but if the transaction goes ahead the Read more…
US Last week’s losses were followed by some more, as the S&P 500 lost 0.75% to close at 1967.9 and the NASDAQ Composite and DJIA went down 0.81% and 0.6% respectively from their values at the end of last week. Stocks took a beating on Tuesday and Wednesday especially as Read more…