Hints and tips:
...The article, “Without top five stocks, S&P 500 is deep into profits recession”, contained this passage: Without its five largest names, the S&P 500’s quarterly EPS has fallen 1.5% in 3Q y/y, according to...
...As a “foreign private issuer”, Arm will not qualify for inclusion in the S&P 500 and other domestic US indices....
...Take advantage of a Friday in town with Counter 71’s new lunch service....
...The feet are in sync, the bodies more free-form — imagine a Muybridge contact sheet shuffled out of sequence — but all remain slaves to the relentless pulse of Ori Lichtik’s trance-y playlist....
...As such, potential indigestion / objections from existing partners (including M&S) doesn’t seem that important to us....
...The Wall Street Journal has done an interesting vibes-y piece about this here....
...Its positive microfinancing approach is, she says, in stark contrast to the stereotypical “lazy, risk-averse” approach of many banks in emerging markets....
...X in this case is an asset’s beta or volatility, while Y stands for the change in the balance sheet....
...And I think we have to remember that the seven super tech stocks that are basically propping up the S&P 500 at the moment are doing just that....
...Dara Khosrowshahi, Uber chief executive, describes its balance sheet as “great”....
...This may have allowed them to cope relatively well with the global financial crisis of 2008, but overseas investors often regarded such strong balance sheets as “lazy money” or a sign of a clubby mentality...
...If you bought Tesla stock, you’ve already accepted the first models being named S, 3, X and Y. (It would have been SEXY, but Ford ruined the punchline by trademarking the model E.)...
...We expect COVID-19 related pressures to weigh on trends and model revenues -7.2% y/y (Q4 -3.8%) and EBITDA -11.0% y/y (Q4 -0.9%)....
...Royal Mail reported 5m letter revenues down 21.5% y/y....
...Margins were flat y/y for FY’20 overall, implying H2 +50bps y/y. Cash conversion was solid at c88%, leaving Net Debt/EBITDA at 2.2x. Q: Has the company’s outlook/guidance changed?...
...Credit Suisse can summarise: Kingfisher reported 1Q sales of £2,155m -24% Y/Y with LFL -24.8% and a positive exit rate as most stores have re-opened in recent weeks....
...Very strong sales performance in July After the final 6 weeks in June saw sales per site per week rise +30% y/y, Persimmon saw an acceleration in sales with +49% y/y sales rate since July up to now....
...Strong balance sheet and valuation undemanding. ABF has a strong balance sheet with over £750mn in net cash, excluding lease liabilities....
...After +9% y/y rental revenue growth in the quarter ending Jan-20, Ashtead saw growth slow to +2% in March, and it expects April to be -15% y/y....
...The FD noted that the Work-in-Progress was up c.£130m y/y, and would expect similar move up at the y/e position....
...The flipside to looking at money supply growth is to look at its counterparties on the asset side of the banks’ balance sheets....
...Here’s UBS: [T]he company expects “further good progress in the year”, signalling earnings growth (consensus EBITA at c£680m, up 8% y-o-y)....
...EBITDA was $361.8m, +452% y/y, giving an EBITDA margin of 64%. The company has announced an interim dividend of $101m ($0.9531 p/s) and is launching a new $67.3m share buyback today....
...Turning to the balance sheet, and Tesla has developed a sizeable cash buffer of $6.3bn, up from $3.7bn at the end of 2018....
...The main difference is the state of Tesla’s balance sheet....
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