Hints and tips:
...Weighing in at ~7,000 words and with 84 references, G4S’s Wiki “controversies surrounding . . .” rap sheet is longer than the ones for the Legion of Christ and Grand Theft Auto V, though not quite as long...
...On our new estimates, L’Oréal trades on an FY21E P/E of 32.6x, the highest premium versus the consumer staples sector for over 10 years....
...Compared to broader Staples, Euro Bevs have underperformed 7%....
...Stress testing balance sheets for GFC falls in EBITDA As we move into recession mode, incoming questions from investors have switched from a focus on the P&L to the balance sheet....
...Valuations undoubtedly have been rebased lower for the afflicted sectors (except Luxury and Staples)....
...V, U, or L? The nature of Covid-19 growth impact means that some elements – e.g., production resumption, inventory restocking, and travel normalisation – would lend a natural rebound to growth....
...L, until the final CMA decision, expected on 11 May....
...WPP will also reduce is planned capex from £400m to v£300m....
...The company swung to a quarterly net loss of $43m. The bookshop chain Barnes & Noble, which has been particularly hard hit by the rise of Amazon, also reported a net loss of $27m for the quarter....
...A 34oz bottle of P&G’s Pantene Pro-V Shampoo & Conditioner was listed by 10 different sellers — nine of them third parties — on the shopping site....
...Mr Loeb has described Nestle’s net debt of 1 times earnings before interest, tax, depreciation and amortisation as “remarkably low”....
...The retailer’s net loss narrowed to 36 cents a share excluding exceptionals, compared with analysts’ forecast of 18 cents per share....
...The Edam Acquisition consortium, comprising Goldman Sachs Capital Partners, Mediacinco Cartera SL, Cyrte Fund II B.V. and VI, L.P., acquired control of 99.7% of Endemol Investment Holding BV from Telefonica...
...P&G is feeling unloved. It is the world’s largest purveyor of staples such as toothpaste and razors. Its management is widely regarded as among the best in the business....
...We did dramatically slow down new employee hiring during this time period as a prudent matter to protect our P&L. As a result, all hiring, both US citizens and foreign nationals, was slowed....
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