Hints and tips:
...A: Sean Combs/P Diddy/Puff Daddy/Puffy/Diddy Which high street lender has Nigel Farage opened accounts with after being cut off by Coutts?...
...This is a capital-intensive, commoditised, oligopolistic industry with just three notable companies — AT&T, Verizon and T-Mobile, all of which are low-beta, defensive names....
...Today, it employs more than 1,000 staff and serves a roster of multinational companies in the Philippines that includes Unilever, P&G, L’Oréal and Nestlé....
...It recently announced an agreement to allow its mobile customers to use T-Mobile’s nationwide network infrastructure, which it hopes will usher in new opportunities for internet and mobile bundling, and...
...Anyway, here are names and links — we’ll let you make your own mind up: Liquid 2 Venture Fund III L.P . . . . Lake Nona Fund / LN Sports & Health Tech Fund I, LP . . ....
...It is at risk of a downgrade by rating agency S&P Global if it spends more than $20bn on spectrum and its earnings are flat this year....
...In the year to date, three of the top five leading sectors in the S&P 500 involve technology. A fourth is mobile telephony....
...A mobile network consists of a 'core' and a RAN (Radio Access Network)....
...The slack is only partly taken up by France P&C which is over distributing....
...Avast currently trades at 21x FY21e P/E or c. 5.5% FCFF yield, a level we continue to view as attractive vs. the wider software sector, especially given WFH benefit as well as optionality around M&A/buybacks...
...One factor impacting underperformance, is a reduced E&P valuation, and we now carry £0.6bn vs a £1.2bn valuation in Dec ‘19. The -£0.6bn change in our E&P valuation is equivalent to c.11p....
...By comparison RBC posted net income of C$3.5bn on revenue of C$12.8bn in its first quarter, which ended on January 31....
... Elisa: remain UW on weak mobile growth. We see Q3 as another weak quarter for mobile service revenues, as the roaming drag will likely increase further....
...The revolving doors to European banks' C-Suites have entered a period of perpetual motion....
...The stock trades at 21x FY22E P/E. During the lockdown, we have seen major brands, i.e....
...RBC Fundamental View: Frasers has a strong position in UK mass market sports retailing and has freehold asset backing (c.£1bn), plus a now c.£200mn stake in Hugo Boss....
...A TIPS yield of -2% easily justifies a P/E of 21x....
...Company commentary supports our view of limited direct impact to P&C : Hannover Re: noted a potential €200m loss across P&C and L&H; Munich Re: noted a €500m loss should all the events it covers for communicable...
...Next currently trades at c.10.5x FY20 P/E but doesn’t offer its usual strong cash returns currently....
...Structural issues in Mobile....
...DC is currently trading at c.9x CY20E P/E and offers a c.5% dividend yield. It is one of the most sensitive stocks in the sector to the £ sterling, given its low margins and supplier pricing power....
...At 1,230p (market cap c. £1 billion), Blue Prism is up by c. 43% since the trading update in November 2019 and up 7% on a year ago....
...Overall, while the stock trades on only 0.25x P/TBV there remains no visibility on when it will generate sustainable profits....
...We currently forecast only +1% LFL growth for DC in FY21E in its UK electrical segment, and a steep decline in the mobile segment....
...The division is margin dilutive to the Group at a c.13% operating margin (Group c.18-19%)....
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