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...European coffee group JDE Peet’s is replacing its two top executives as controlling shareholder JAB Holding seeks to shake-up the owner of L’Or, Kenco and Douwe Egberts following a long period of underperformance...
...Although the unit posted an adjusted earnings margin of 8 per cent in its latest quarter, analysts at S&P Global Ratings said in April that “Avon continues to underperform in the third year of the turnaround...
...He added: “If you’re growing at the pace that we are, then the P&L does manifest itself in cash requirements.” Sales at Interpath’s advisory business climbed to £26.9mn, up from £2.8mn a year earlier....
...As such the buyout does not look too shabby at 20 times this year’s operating profit on S&P Capital IQ estimates. But with more effort management might be able to double these earnings....
...Earlier this week, rating agencies S&P Global and Moody’s put Equinox on watch for downgrades deeper into junk territory, fearing that it could face a restructuring if it were unable to refinance the loans...
...In our view, this probably explains their strong re-rating (forward P/E of 27.2x), and why they are trading at a 110% premium to the STOXX 600 (13.0x)” wrote....
...This could represent a shift to a slightly more hospitable climate for L/S hedge funds, whose shorts have generally been a grisly mess over the past decade, he argues: Macro Matters for Hedge FundsRegardless...
...Global demand for plastics, which makes up 50 per cent of petrochemical demand, is expected to nearly double by mid-century, according to S&P Global Commodity Insights....
...The group has a record of profitable exits — such as 2023’s $8.6bn listing of German sandal maker Birkenstock — and Tod’s has a good potential to turn into another success story, say analysts....
...The Granolas’ share of the Stoxx Europe 600 index has climbed to 25 per cent, approaching the Magnificent Seven’s 28 per cent weighting in the S&P 500....
...Shepherdson argues that declining S&L tax revenue augurs poorly for future S&L spending, as this chart shows: It’s a reminder to investors that markets are sensitive to changes, not levels....
...Using national level S&L data back to 1955, we find that changes in revenues over the prior year account for 40% of the variance in S&L consumption and gross investment....
...Free cash flow, however, reconciles those book accounting accruals of the P&L ledger to capture the real flows of actual dollars coming in and out....
...Since 1990, missing the 30 best days of the S&P 500 cuts your compound returns in half....
...Even inside the S&P 500 there is a stark performance disparity between the biggest stocks and the rest....
...A lot of watch industry types have been talking for a while about a squeezed middle....
...The boost from its earnings helped push the S&P 500 index and the tech-heavy Nasdaq Composite to new highs. The ripples spread far beyond the US....
...The company is in a reputational crisis. This C-suite shake-up should be welcomed....
...LVMH is forecast to make a 35 per cent ebitda margin this year, according to S&P Capital IQ. Birkenstock achieved that in the year to September 2022, albeit on an adjusted basis....
...TCI made $12.9bn for investors and ended last year up 33 per cent, ahead of the S&P 500 index’s 24 per cent rise....
...Little wonder the beauty industry is energetically prospecting the biotech frontier....
..., UK, US: S&P Global/HCOB services purchasing managers’ index (PMI) figures Indonesia: Q4 GDP figures Mexico: Constitution Day holiday....
...100 down 5.2% and the S&P 500 down 4.3%....
...data compiled by Cruise Industry News, a trade publication....
...“PE compensation is predominantly derived from the P&L of the firm — which is based on the management fee of the fund, and this is locked in for the life of the fund,” said Tom Thackeray, a partner at Heidrick...
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