Hints and tips:
...The firm marked down its portfolio of private holdings further in the second quarter despite what it characterised as adequate cash positions and “positive operating performance overall”....
...“There are real benefits to self-reporting, remediating and co-operating.”...
...(b) Returns implied by the stock market equal only est. half of Citi’s target. For those looking for a “margin of safety” for an investment—we believe Citi looks like a stock to own....
...The Bakken’s output slumped to a little over 1mn b/d and has barely recovered. Just 39 rigs were operating across the field in the first week of January, down from more than 200 a decade ago....
...The Kremlin has already said it will withhold supplies to countries co-operating with the price cap....
...This company shares a Russian director with “Velada LLC”, which was granted a concession by the Assad regime in Syria to explore for oil and gas....
...It also stands accused of using a series of contractual arrangements to make sure it keeps pole position on phones running its own Android operating system....
...No wonder the government is already considering switching to plan B, commissioning a separate app that uses Google and Apple technology....
...Whichever shape the recovery takes — V, W or L — any emissions decline flattens out by the middle of the decade....
...The downgrade — to triple B minus, from the triple B issued in August — follows similar reductions earlier this month from S&P’s fellow agencies Moody’s and Fitch, although their ratings remain higher at...
...SSP still guides to an underlying operating loss of £180m-£250m for 2H. If sales remain at current levels, SSP anticipates an overall net operating cash outflow for 2H of £340-440m....
...To offset the fiscal impact of the revenue drop, we estimate that oil prices would need to average a little under USD48/b this year rather than the USD37/b we currently assume....
...Here’s Peel Hunt: Underlying operating profit (UOP) was £19.5m and PBT £15.1m, in line with our estimates....
...Possibly his host yesterday, Double Eagle, which produces about 60,000 b/d from some of the best rocks in the Permian....
...Causeway Capital Management LLC, the LA hedge fund, has declared 4.88 per cent of Micro Focus....
...M&B “has only sufficient cash to burn until mid-summer 2020 but with a circa 5x PE for FY22E, M&B’s valuation overstates the size of any equity raise,” Jefferies says....
...Some recent data from managed pubs indicated that 42% of pubs and bars opened on the 4th July w/e; of those that opened, trade was -45% vs prior year w/e. US - strong off-trade....
...Charts and words via HSBC: [W]e now estimate 2019 industry output should almost recover by 2022 to -4% versus -10% previously....
...Huawei claims to have a plan B. It has been developing its own operating systems. But this will be not be easy....
...Here’s Shore Cap: [W]e consider environmental monitoring services to be a high-growth market, so are slightly surprised by the agreement to dispose of EMS B&K....
...“That’s our plan B. But of course we prefer to work with the ecosystems of Google and Microsoft,” he told the German publication in March. Microsoft declined to comment....
...[W]e expect focus on another weak quarter for Other Income and a quarterly run-rate below consensus expectations....
...However, by 2015 Caesars’ operating subsidiary had succumbed to its massive debt load and filed for bankruptcy, re-emerging in late 2017 after a nasty and protracted fight with hedge funds....
...In our W-shaped recovery scenario (not our base case) we have FY21e OP down 45% YoY on assuming free advertising is extended for three months....
...[W]e note that a) the asset value is lower than the £1.5-£2bn we / the market had initially assumed (prior to the FY2019 results); and b) the timing of sale is somewhat surprising, given the new announced...
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