Hints and tips:
...Chart of the day The S&P 500 rose 3.1 per cent in July after closing up 0.2 per cent yesterday at 4,588.96....
...The report from the independent congressional watchdog was published just days after a Marine Corps F-35 crashed in South Carolina. Here’s more on the damning findings. 5....
...As a “foreign private issuer”, Arm will not qualify for inclusion in the S&P 500 and other domestic US indices....
...The “weak link”, as Jefferies puts it, is Refinitiv’s “desktop franchise”, ie Eikon, ie the Bloomberg terminal competitor that is often invoked in the sentence “stupid f---ing Eikon”....
...The Gordon Gekko Company Ranch Award Winner: W.M....
...“[W]e are setting up critical infrastructure to fail,” he said in his letter, which made only cursory reference to advances by China....
...Yet the increase was driven by higher sales of P&W’s commercial engines which the company said “more than offset an 11 per cent decrease in military”....
...Now most S&P 500 companies are run with ruthless efficiency, making leveraged buyouts harder for KKR to pencil out....
...The initiative also helps to save lions and rhinos and, most recently, koalas in Australia through the Wildlife Conservation Network. tiffany.com F is for Fashion ExpressionsPrada Group has partnered with...
...S&P Global Ratings on Friday said it expected Hurricane Ian to result in insured losses of $30bn to $40bn....
...P Passing shots Things of beauty that have more or less killed off serve-and-volley tactics. Q Queue Yes, you could get some fancy corporate ticket to Wimbledon....
...Churchill Capital Corp IV in February — one of eight Spacs run by former Citigroup banker Michael Klein....
...In the second instance, American Tower, the owner of a network of mobile phone sites, said it would buy CoreSite Realty for $10bn....
...The duo analysed ESG pay metrics at the S&P 100 companies....
...One good read New York University PhD candidate Francesco Furno has a thought-provoking new paper (and abbreviated tweetstorm) comparing the John F Kennedy and Donald Trump corporate tax cuts....
...And when Moody’s downgraded the world’s most indebted property developer on Tuesday, investors were reminded of two separate downgrades from the rating agencies Fitch and S&P Global Ratings, among others...
...Together they lifted the Nasdaq Composite 4 per cent, ahead of the benchmark S&P 500....
...They were first sent by President George W Bush in 2001, a month after the September 11 attacks; he called it “civilisation’s fight” and went on to topple the Taliban....
...Stephen Shapiro will succeed Bob Hoyt, the former general counsel of the US Department of the Treasury and a George W Bush appointee, as the new general counsel at Barclays....
...We expect F/W volume contraction as MONC focuses on profitability (possible Gross Mg mid-70s again, EBIT pre-IP at 29%) but still 24% below H219....
...P is for pump and dump — crypto's raison d'être. Q is for queue — the laborious wait to shift $0.42 between accounts. R is for robbed — the eventual status of every crypto-exchange....
...Here’s Commerzbank: Equity markets staged a decent rally last week with e.g. the S&P 500 up 10.4% w/w, and weekly trough to peak performance exceeding 20%....
...P&W has long been the lead engine supplier to the Pentagon — it powers the F-35 fighter jet among other military aircraft — and also makes the first-of-a-kind geared turbofan jet engine that powers the Airbus...
...• 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....
...Stay U/P SM; valuation still too rich. ......
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