Club Mediterranee SA; market cap (as of 14/11/2014): €843.79m KKR & Co LP; market cap (as of 14/11/2014): $17.94bn KKR & Co LP; AUM: $102.3bn On November 11, Italian tycoon Andrea Bonomi, made a new bid for a controlling stake in the French tourism operator chain Club Méditerranée (Club Med). Read more…
Procter & Gamble Co.; Market Cap (as of 14/11/14): $238.1bn Berkshire Hathaway Inc.; Market Cap (as of 14/11/14): $358.8bn Procter & Gamble Co. (NYSE: PG), the world’s largest beauty and home products maker based in Cincinnati, Ohio, United States, announced last month that it would divest its battery business, Duracell. Read more…
US US equities continued to trade sideways in the last week due to the lack of news catalysts. The only major pieces of news out were the number of initial and continuing jobless claims diffused on Thursday and the retail sales figures released on Friday. The anticipation of the former Read more…
On normal market days, the (positive) correlation between gold and silver is quite high. Looking at the chart below, it looks like silver gives chase to the movements in gold and follows them quite closely. One thing we can observe though is that downside changes in gold reflect more heavily Read more…
US It has been a busy week for US markets, filled with plenty of data and the outcome of the midterms on November 4th. The result of these was a Republican takeover of the Senate, and in all the expression of dissatisfaction or anger at Mr Obama’s performance. The S&P Read more…
There’s a famous saying among financiers : either stress tests are done correctly and banks fail miserably, either they are poorly done in order to make them a success. It is very likely we are in the second situation. Victor Constancio, vice-president of the ECB, declared that not only the Read more…
The Carlyle Group LP; market cap (as of 7/11/2014): $9.08bn The Carlyle Group LP; AUM (as of 30/09/2014): $203bn On November 5, a consortium led by the global asset manager The Carlyle Group announced the acquisition of Dealogic, a provider of software and data platforms to investment banking industry, from Read more…
Lenovo Group Ltd; market cap (as of 07/11/2014): HKD106.78bn Google Inc.; market cap (as of 07/11/2014): $365.90bn On October 30, 2014 Lenovo (HKSE: 992) and Google (NASDAQ: GOOG) announced the completion of Lenovo’s acquisition of Motorola Mobility from Google for $2.9bn. The total purchase price includes $660m in cash, $750m Read more…
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…