United States Following the “perfect week” of the S&P500, where the index set every day a new positive record, this week the market was characterized by oscillating returns due to the quarterly earnings release. Indeed, even if the majority of reports indicated strong earnings, especially in some of the largest Read more…
According to the Financial Times, Credit Derivatives market was a $10 trillion market in the beginning of 2017. While this figure has taken a bump from a heyday before the Great Financial Crisis a decade ago, it makes for an essential cornerstone of the finance world. This article will proceed Read more…
Impax Laboratories, Inc. (IPXL:NASDAQ) – market cap as of 27/10/2017: $1.40bn Introduction On October 17, 2017, Amneal Pharmaceuticals and Impax Laboratories announced that they will merge in an all-stock transaction. Amneal will hold c. 75% of the combined entity, whereas Impax shareholders will own the remaining stake (c. 25%). These Read more…
Company overview Grubhub (NYSE: GRUB) is an online food delivery service that connects diners with nearby restaurants. Orders are placed online and are delivered to the user’s doorstep. Restaurants may carry out the delivery themselves or pay Grubhub to do so. The company has over 9.18 million active diners and Read more…
First Solar Inc. is the world’s largest thin-film PV solar module manufacturer and one of the world’s largest PV solar module manufacturers. Our attention toward this company is due to it’s amazing stock performance during this year (+48%) and the fact that it will probably be the main beneficiary of Read more…
United States The labour report released on Friday showed, along with encouraging data on US wage growth, some inconsistencies which are likely to be the outcome of distortionary effects caused by the Hurricane Irma. More specifically, the latest non-farm payroll figure is negative (-33,000). This is the first time that Read more…
United States The Republican tax reform plan unveiled on Wednesday was the biggest driver of US markets this week. The tax reform plan pledges to affect meaningfully American corporations as Trump announced to cut the corporate tax rate from 35% to 20% (though falling short from the 15% he promised Read more…
Recent drivers of the Euro/USD exchange rate Despite the divergence in monetary policies between the hawkish FED and dovish ECB, the Euro has been appreciating against the Dollar since the beginning of 2017, registering a +13.44% increase on 1st September. However, in the last two weeks it fell under pressures Read more…
Introduction The Japanese PM dissolved the lower parliament on 28th September, initiating the process for the snap elections to be held on October 22nd. We believe that it is a move to secure a fresh mandate in the parliament after Mr. Abe’s association with a series of scandals over the Read more…
United States The post-financial crisis US equity rally continues this week, with the S&P 500 closing at $2,502.22 ( +0.08% over the week). Apple’s share price slide led it to its worst week in 17 months because of the mixed reviews for its new iPhone 8, as it offers just Read more…
Industry overview One of the core Indian industries is the automotive industry. In 2016, India was the World’s 6th vehicle manufacturer with a total production of 24 million units and the 5th biggest passenger vehicle market. In the same year, this sector accounted for 7.1% of the country GDP, 27% Read more…
The aim of this article is to analyse the popular Fed Model, pointing out its strengths as a descriptive tool but warning investors against its alleged predictive qualities. The Fed Model is a stock valuation approach introduced in the late 1990s. It asserts that the acceptable earnings yield (the inverse Read more…
United States The post-financial crisis US equity rally this week overtook the 1949-56 run to become the second-strongest bull market in US history. The S&P 500 closed the week at $2,500.23, a new record high. North Korea missile tests and possible Fed balance sheet tightening were ignored by the market, Read more…
Introduction Chinese Ministry of Finance announced on June 13th that it will issue 14 billion RMB and 2 billion USD sovereign bonds this year in Hong Kong, marking the first issuance of dollar-denominated sovereign bonds after 2004. Major financial publications (including WSJ and FT) have reported this week that the Read more…
Recently the spread between oil benchmark Brent and Us counterpart West Texas Intermediate has reached the highest levels in two years, breaking above $7/bbl in September. In this article we will give a brief introduction of different crude oils, the fundamental reasons behind price differentials, and an idea on how Read more…