US This week has been really quiet for the US. Two main issues arise: the initial jobless claims surprise on the downside (actual 316K vs expected 330K), and the decline in the durable goods orders. (-2%) in October. With regard to the first data, although it is clearly good for Read more…
Moncler S.p.A Market Cap (as of 30/11/13): N/A Moncler, the Italian maker of luxury down jackets, is expected to go public on the Milan Stock exchange by mid-December, after the approval received on Tuesday by Consob, the Italian stock market regulator. It aims to raise about €800mln, with an IPO Read more…
BMPS:IM Market Cap (as of 29/11/13): €2.18bn On November 26, 2013 Banca Monte dei Paschi di Siena (“MPS”), the world’s oldest bank (founded in 1472) and Italy’s third biggest lender, has agreed to submit a proposal to the Extraordinary Shareholders’ Meeting for a capital increase, for up to a maximum Read more…
Vivendi Market Cap (as of 29/11/13): €25bn On Tuesday, November 26, French media and telecom conglomerate Vivendi announced that its supervisory board approved a plan to spin off its mobile telephone division SFR as a standalone company to be listed on the French stock exchange. Shares in the new entity Read more…
After a difficult year, Apple – almost flat YTD compared with a 27% rally in S&P500 – seems to be on its way to recovery. Source: Thumbcharts.com Since Q4 earnings release the stock has already rallied 10%, but especially this week a new wave of optimism has pushed the stock Read more…
In the last quarter report, IBM announced revenues for $23.7bn (consensus $24.75bn) EPS at $3.99 (consensus $3.96), a light and shade result that followed a similar quarter (Q2), with a beat on earnings per share ($3,91) and a miss on revenues ($24,9bn) and the weakest quarter of the last years Read more…
There seems to be a consensus in the market that the Fed will gradually start tapering in the next few months (our guesses at BSIC is in December). Therefore it is time to understand what could happen to markets and get prepared. What could happen on the equity market in Read more…
Panel 22|11|2013 US This week Bernanke surprised the markets outlining the chance of early tapering of QE (December meeting). For us this is quite surprising, as we still believe the US economy is not performing as well as it was believed this spring. Three main reasons have worsened our outlook Read more…
Cinda Market Cap (as of 22/11/13): N/A News surfaced on Thursday, November 21st that Chinese bad bank Cinda is finalizing the details of its long awaited Hong Kong IPO, which is expected to bring in up to HK$19bn (US$2.45bn) in fresh equity financing. The company will offer around 5bn shares Read more…
T-Mobile US, Inc. Market Cap (as of 23/11/13): $19.2bn T-Mobile US, Deutsche Telecom majority-owned mobile operator is raising $2bn in an effort to increase its footprint in the 4G LTE market. T-Mobile is the fourth mobile operator in the US with 45M customers ranking after Verizon Wireless, AT&T Mobility and Read more…
What game is the Fed playing? The Fed’s unconventional monetary policy so far has been a mix of Market policy (or, better, Balance Sheet policy) and Mouth policy. Indeed, great part of the job has been done “manipulating” expectations to make agents reacted to Fed stimuli the way it meant Read more…
Alibaba, the Chinese business to business e-commerce giant, is expected to file for an IPO in the next quarter; this highly expected IPO, that is valued at around US$190-200bn has already a huge impact in public markets, precisely in two tech corporations: Softbank and Yahoo!. Even if the financial situation Read more…
Thursday 21th after the closing bell Pandora Media (P) released its quarterly earnings that beat top-line estimates: Revenues jumped 50.3% year over year to $180.4 million, which beat Consensus Estimate of $174.76 million. Eps was 0.06 in line with estimates. The implied volatility of the stock due to the earning release Read more…
Since 2001, Turkey has been subject to profound and remarkable economic and financial transformations that have led this emerging market to become the 17th largest economy in the world, with a nominal GDP of $800 billion. After the banking crisis that hit the country at the beginning of 2001, Turkey Read more…
Shire PLC Market Cap (as of 15/11/13): £15.7bn ViroPharma Inc. Market Cap (as of 15/11/13): $3.3bn Monday, November 11th brought about the much rumored king-size deal of the year in the pharmaceutical sector: Shire PLC of Ireland acquired ViroPharma Inc., a US-based niche company focused on rare diseases, for a Read more…