Author Archive: Jeremy Parkinson
Has Baker Hughes, A GE Company, Peaked?
Baker Hughes, a GE Company (BHGE), reported Q3 revenue of $5.38 billion and eps of $0.05. The company missed on revenue by $150 million, but delivered an earnings beat. Below is my takeaway on the quarter. Revenue Growth Declined Slightly In Q4 2016 the former Baker Hughes merged its operations with GE (GE) Oil & […]
India Equity Market Valuations: The Need To Exercise Prudence
Written by Baijnath Ramraika, CFA and Prashant K. Trivedi, CFA “The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.” – Warren Buffett[1] While the long expected earnings recovery has continued to push its realization date further out, equity markets have continued to march upwards. […]
Steady Economic Growth Continues
The Bureau of Economic Analysis announced today that U.S. real GDP grew at a 3.0% annual rate in the third quarter. That is close to the long-term historical average of 3.1%, and better than the 2.1% we’ve seen on average since the Great Recession ended in 2009. Real GDP growth at an annual rate, 1947:Q2-2017:Q3, with the […]
Federal Prosecutors Are Investigating Wells Fargo’s FX Business
Last week, WSJ stoked fears that the Feds might be ramping up another probe into abuse and manipulation in the foreign exchange market when it reported that Wells Fargo had abruptly terminated four bankers from its FX business and transferred another. Now, Wall Street’s paper of record is reporting that Federal prosecutors are investigating Wells for abuses […]
Warming Economy, Red Hot Stock Market
With 15% gains in the major stock indices (Nasdaq 28%) stocks are on pace for their 4th best year since 1999. Precursors of accelerating economic growth abound in 2017, reflective of the rebounding earnings and future expectations. The stubbornly sluggish US GDP continues to hover near its 2.1% post mortgage bubble 7 year expansion cycle. […]
CBN Boosts Forex Liquidity With Another $286m
The Central Bank of Nigeria on Friday deepened its effort at converging forex rates and prop up the Naira value by injecting forex into four sectors of the economy. The apex bank sold a total of $285,759,449.10 into the interbank forex exchange market to meet demand in four different sectors. Details of the transaction revealed […]
EURGBP Weakens, Eyes More Decline Towards 0.8800 Zone
EURGBP- The cross remains biased to downside as it reversed its previous week gains to close lower on Friday. Support lies at the 0.8800 Level where a violation will turn focus to the 0.8750 level. A break will expose the 0.8700 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Resistance resides […]
Back To The Future
Here’s something to think about (excerpted from my latest over at DealBreaker called “Amazon Is Cheap At Any Price, Say Carnivorous Animals“): Amazon is the poster child for a consensus view about “world-changing” companies. That consensus is basically that no price is too high when it comes to staking your claim on a share (figuratively […]
Aryeh Capital Management’s Thesis On Servicemaster
Aryeh Capital is bullish on Servicemaster Global Holdings Inc. (NYSE: SERV) a $6 billion dollar company whose stock is up 18.5% year-to-date. Per Aryeh, Servicemaster Global Holdings Inc. which has three segments is made out of respectively: ServiceMaster is a collection of three somewhat disparate businesses. The first is Terminix, a high-quality termite and pest-control company that is the market leader in the […]
