Hints and tips:
...(Alphaville believes that using L’Oréal as an O is cheating, even if it makes your acronym look nicer.)...
...UK’s AstraZeneca, German software company SAP and French healthcare firm Sanofi....
...Monday EU, December retail sales figures Germany, December factory orders UK, S&P Global/Cips construction purchasing managers’ index (PMI) data Results: Activision Blizzard Q4, Anima FY, JFE Holdings...
...It has received “slower than expected adoption by patients and healthcare professionals’‘, Nestlé said....
...“P&O provides a case study of how not to do it,” Marmot added....
...The Lemlem Foundation, the brand’s philanthropic arm, supports programmes that promote access to healthcare, job opportunities and responsible production, and is funded through a donation of five per cent...
...ESG concerns about healthcare companies are not going away....
...For example, the Rize ETF may have a broader remit than L&G Cyber Security, even if they share some holdings....
...Surveys from PwC and UBS show that executives see significantly greater risks on tax policy, healthcare reform and technology regulation should Democrats win....
...“L&G offers a 6.3% 2020E dividend yield, 1.2% above the sector average. Pre-2016 L&G's yield averaged 0.4% above the sector.”...
...UK national statistician Ian Diamond can even see a cliff edge in the form of an “L”. But stock market commentators have started using the language of psychiatrists....
...Futures point to a fall of 2.5 per cent for the FTSE 100, while on Wall Street the S&P 500 is on course for losses of almost 3 per cent....
...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....
...Healthcare company Roche has gained 8 per cent thanks to its testing expertise. In Asia, the Chinese “Bat” stocks — the local equivalent of the Fang stocks — have been more of a mixed bag....
...L-f-l rents down 27%: net rental income fell down to just £87.3m which represents a l-f-l fall of 27% (excluding premium outlets), as a result of covid and the reduced rent collection rate....
...) estimates i.e. an attractive valuation, however: i.) preprovision profit in our base case is declining -2% CAGR ‘19-22E and ii.) our L-T recession scenario sees only 1% p.a....
...We do not think that management would have referred to “strong cash conversion” and emphasized delivering if the beat in the P&L were not flowing through well to cashflow, so we believe that the commentary...
...They include a mix of healthcare, consumer staples and tech: GlaxoSmithKline, Roche, ASML, Nestlé, Novartis, Novo Nordisk, L’Oréal, LVMH, AstraZeneca, SAP and Sanofi....
...L and net debt....
...The Smirnoff maker is also donating 8m bottles of sanitiser to healthcare workers, hopefully with a prominent “do not drink” on the label....
...Based on company commentary so far, we still believe potential COVID-19 claims (including BI) are a manageable P&L event for the sector, although the devil will be in the detail when it comes to BI policy...
...L’Oréal Sector: cosmetics / HQ: Paris, France Key stat: Online sales jumped 53 per cent in the first quarter....
...K&L Gates has added David Owen as counsel to its asset management and investment funds practice. Owen joins from Allianz Global Investors....
...What happens further down the P&L is largely a question of capital structure, but it appears most will be either loss-making or make only marginal PBT....
...L, until the final CMA decision, expected on 11 May....
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