Hints and tips:
...So we have adopted a hybrid for our end-of-year rankings: a percentage gain with a floor of $10bn market value at the start of 2020, using data from S&P Global....
...France L&S and Italy will not pay dividends this year, and XL Bermuda is unlikely to. The slack is only partly taken up by France P&C which is over distributing....
...When asked about what path the S&P 500 recovery will take, W remained the most popular choice with 45% percent of the vote. Just 30% expect a V shaped recovery in the stock market....
...This puts the sector on a relative P/E premium of 29% on NTM+1 (Apr 21-Mar 22), 18.5x for Beverages vs 14.3x for the Market....
...more of a primary event), UK P&C (~14% of premium), and then the multilines (~10%)....
...Our price target is based on a mix of our DCF as well as P/E and EV/EBITDA multiples....
...We see fair value 12m forward P/E of 21x (if the TIPS yield falls to -2%). • Excess liquidity remains highly supportive: Growing at 20%, consistent with a 90% re-rating....
...The P/E troughed first in the GFC, then P and finally, much later, E (Figure 2). Earnings estimates do not turn until c.10 weeks after the trough in the market....
...A V-shaped recovery in kneecaps isn’t in the price, they say....
...Our last published fair value of 440p (29% upside) is equivalent to a P/TNAV multiple of 0.79x....
...Next currently trades at c.10.5x FY20 P/E but doesn’t offer its usual strong cash returns currently....
...• 2) On P/E metric, Cyclicals are not at extremes vs Defensives ... Their P/E relative bottomed at 0.7x and 0.8x in the last two downturns, vs 1.0x current....
...non-contracted commercial and c.10% product sales....
...a pretty stable macro backdrop; iv) capital build of 170-200bps p.a. as per previous guidance (though guidance for FY19 was for the lower end of that range, so this is a slight upgrade); and v) Statutory...
...As well, over 50 companies in the S&P 500 have already suspended their share repurchase programs, which accounted for over 25% of buybacks in 2019....
...This is the stock performance of Kinder Morgan Inc, a diversified US energy company, primarily engaged in the movement of natural gas, crude oil, petroleum products, CO2, coal, and other commodities since...
...Over the past 12 months these have returned 16 per cent to shareholders, on average, compared with the S&P 500’s 5 per cent....
...It was the worst performance for the S&P during the Thanksgiving holiday week since 1941, according to Bespoke Investment Group....
...US equities fell this week, with the S&P 500 registering its worst weekly performance in a year and its biggest losing streak since 2008, as investors weighed the likelihood that lawmakers can iron out a...
...Or as Ms Coppola at S&P puts it: “In reality it is increasingly apparent that luxury goods could be produced outside of their ‘country of origin’ with the same quality.”...
...A judge in Regina v....
...“Piracy isn’t the discussion we keep having,” says Mr Makinson....
...Stock appreciation is driven by P/E expansion and earnings/cash flows growth. If you see an apparent catalyst (news or event) that will force P/E to go up – great!...
...The product families are the GlassFish application server and OpenSSO, Sun’s open-source offering for identity management....
...This argument suggests deflation of 1 per cent p.a. or so would be a good thing....
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