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...Influential shareholder adviser Institutional Shareholder Services has clashed with two of Germany’s biggest blue-chips over a lack of boardroom independence, recommending the chairs of BASF and Munich Re...
...Bit Brother, which changed its name from Urban Tea in 2021 as it expanded into “blockchain-based” services, is emblematic of a trading boom taking place in some of the market’s cheapest shares....
...local car services....
...Since closing the IHS deal, S&P’s share price is up about 13 per cent, slightly lagging its benchmark S&P 500 index....
...The downturn in the eurozone’s struggling economy is easing, according to a closely tracked business survey, which found a stabilisation of activity at services companies offset a steep decline in manufacturing...
...For a while, many pundits — including Unhedged — talked about Apple as a “defensive growth” stock, with high barriers to entry and a big services business to carry it through the economic cycle....
...By this measure, model portfolio assets rose 48 per cent from $286bn to $424bn in the two years to June 2023, a period during which the S&P 500 was broadly flat....
...This matched a wider trend in which S&P 500 spending on buybacks fell 14 per cent on the previous year....
...At the top of the pile is the S&P 500, which is an absolute beast....
...The profit margin of the service sector (which accounts for 20% of revenue) has, in the opinion of our analyst, peaked at 70% as Apple needs to find incremental services with large TAMs, with much of the...
...Amanda Agati, chief investment officer for PNC Financial Services, said: “Our wish at Christmas was a resurgence in the bottom 493 stocks [in the S&P 500]. We got coal in our stockings so far . . ....
...Last year, nearly 14 per cent of S&P 500 companies faced shareholder proposals to split the roles, up from 6 per cent in 2021. Support for the proposals has averaged about 30 per cent....
...In the US, the S&P 500 had its best first quarter since 2019. Fixed income funds reported inflows of $42bn and equity funds received $18bn, for total long-term flows of $76bn....
...The S&P 500 closed at an all-time high on Friday after a blistering rally in tech stocks....
...State Street Global Advisors’ SPDR S&P 500 Ucits ETF has attracted €2.7bn in net inflows over the three months since its fee was cut to 0.03 per cent in November last year....
...Lawyer fee awards have become a hot topic in courts in Delaware, where more than 300 S&P 500 companies are incorporated....
...S&P Global considers CVR an important part of its calculation of the conglomerate’s indebtedness....
...Maybe it could hike the average take rate, which is the cut it takes from each driver’s fare in addition to the service fee....
...At the S&P 500 return, the pot still comes in at a heady $163mn. This century, Berkshire has struggled to exceed the returns of the S&P 500....
...Services companies reported the fastest increase in their selling prices since July despite a cooling of input cost inflation, S&P said....
...The final S&P Global/Cips UK services PMI business activity index, a measure of the health of the sector, was 49.3 last month — down slightly from 49.5 in August, but well above the flash estimate of 47.2...
...Assume, then, that TMTG’s weighted average cost of capital falls from more than 20 per cent to 5-6 per cent, the S&P 500’s average WACC. Even then, we’re only at $51....
...Apple’s revenues were $119.6bn for the quarter to the end of December, up 2 per cent from the same period in the previous year and beating consensus estimates of $118.3bn, according to S&P Capital IQ....
...We est. the value of the Services LOB (est. 1/4 of core revenues) at about 4/5 of Citi’s market cap ($75B vs $99B as of Dec. 29, 2023) assuming a P/E of 12-13x on 2024E earnings of $6B....
...A few weeks ago, there was an outcry after Apollo Global Management offered Yellow Corporation, the recently bankrupt trucking company, a $142.5mn DIP loan that came with a fee as high as $32mn....
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