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...Here we explain why we think there may be more to come for investors in US E&Ps....
...This FT Lex column suggests traders may also be questioning the extent of Iran’s military threat. The country will not want to hurt its own oil exports....
...Lex’s price index of the top nine gas producing E&Ps is up 16 per cent since the end of January....
...The Lex team is interested in hearing more from readers. Please tell us what you think of the e-scooter boom in the comments section below....
...High multiples on which they trade have pushed the broader S&P 500 Shiller price-to-earnings ratio, aka the cyclically adjusted p/e ratio (CAPE), up from less than 30 times in late 2022 to 34 times....
...Shares in US-listed Ulta and e.l.f. have also suffered. Despite this, Puig’s mooted valuation looks achievable....
...Two US utilities in the west, PG&E and Hawaiian Electric, have faced steep financial distress from wildfire liabilities in recent years....
...focused on non-disposable e-cigarettes, may see the ban as a net positive for their smoke-free businesses....
...E-commerce and physical stores also do not operate in isolation....
...But if commodity prices remain depressed, expect investors to scrutinise these E&Ps’ production decisions....
...Faster-growing rival KPIT Technologies is trading on a 65 times P/E multiple. Both groups are heavily exposed to electric vehicle development....
...On Tuesday, Nidec exposed the woes suffered by a division that makes e-axles....
...Developers are then left sprinting over thin air like Wile E Coyote, as at present....
...Trainline’s investments are paying off with rising e-ticket penetration and growth in its software division. Train tourism has returned on the continent as well....
...Morgan Stanley, which owns E*Trade, added about 300,000 accounts during the September quarter....
...Her chief financial officer, Christine Morris, barely had time to unpack her boxes. Guy Debelle, who joined from the Reserve Bank of Australia, managed a year in the hydrogen division....
...Electric car company Tesla, whose high p/e ratio has long repelled value investors, has a three-year PEG ratio of 1.57 times....
...E-mobility accounts for just 9 per cent of pro forma sales but will rise to almost one-third by 2030 as EVs proliferate....
...But they illustrate the difficulty for cigarette manufacturers, whose efforts to switch into vapes and e-cigarettes are faltering....
...Multiple investors, including private equity, were interested in funding the restructuring of PG&E....
...If the sector has any sense, it should be less frantic, writes Lex....
...Chat apps such as Slack that have helped create a new workplace culture of nonstop, informal chatter are here to stay, writes the Lex column’s Elaine Moore....
...STC is following in the footsteps of rival e&. Last month, the United Arab Emirates business announced it wanted to increase its stake in UK group Vodafone to 20 per cent....
...We highlighted the woefully inaccurate claim that e-books will supersede printed ones, which are still doing nicely for publishers such as Bloomsbury....
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