Richard Windsor
23 October 2017

Microsoft, Huawei & ZTE -Hardware heaven?

3 big leaps but potentially with fatal flaws

Read more...
19 October 2017 · 1 min read

Profits forecasts stable – but no positive surprises

Stronger PMI indices not following through to profits growth

While Q3 has brought something of a renaissance in economic surprise and purchasing managers’ indices we can at present see no sign of this improved sentiment in profits forecasts for 2017. Our weighted average consensus earnings forecast index remains steady for each of the UK, US and Europe ex-UK and the equal-weighted measures have declined, if modestly, since mid-year. In prior periods, our earnings forecast index tended to move slightly ahead of PMIs and economic surprise. The more recent data has not followed this pattern and highlights that what is good for the overall economy is not by necessity good for corporate profits. Furthermore, with central banks on a tightening path the risk for equity markets is that tighter policy is not offset by stronger profits growth.

Read more...
Richard Windsor
18 October 2017

Broadcast TV - Sword of Damocles pt. III

OTA broadcast given a second chance

Read more...
Richard Windsor
17 October 2017

OnePLus - Learning curve

OnePlus’ slip serves as a warning

Read more...
Mel Jenner
16 October 2017 · 2 min read

Qatar Investment Fund proposes broader investment remit and change of name

Proposed greater flexibility to invest across the Gulf Cooperation Council (GCC) countries rather than largely in Qatar

Qatar Investment Fund (QIF) has announced a proposed change in its investment policy to remove the current 15% limit on investment in GCC countries outside of Qatar. It has also put forward other proposals including: a tender offer for up to 10% of issued share capital; cancellation of the 2018 continuation vote, to be replaced by a 2021 vote and every three years thereafter; a tender offer in 2020 for up to 100% of issued share capital, subject to shareholder approval; and changing the company name to Gulf Investment Fund. All these proposals, with the exception of the 2020 tender offer, will be put forward at an upcoming extraordinary general meeting (EGM).

Read more...
Sanjeev Bahl
16 October 2017 · 5 min read

Fancy a Ferrari or an EV?

EV adoption impact on oil demand

Electric vehicles are a fascinating subject and not a day goes by without Tesla or a major OEM touting their latest designs and the virtues of electrification of their light vehicle fleet. That excludes Marchionne, Ferrari’s CEO, who famously retorted that ‘you’ll have to shoot me first’ before the supercar brand develops a vehicle without the roaring sound of an internal combustion engine.

Read more...
Richard Windsor
16 October 2017

Samsung Q3 17 - Spring clean

Now is the best time to clean house

Read more...
Richard Windsor
12 October 2017

Yandex - Homeless

Alice needs a hardware home

Read more...
Richard Windsor
11 October 2017

Apple - Expectations gap

iPhone X unlikely to produce the needed super cycle.

Read more...
Elaine Reynolds
10 October 2017

Verbier delivers after sidetrack

Statoil’s sidetracked Verbier well has discovered oil after the main wellbore found water filled sand. The company was targeting oil in an updip location on the structure together with joint venture partner Jersey Oil & Gas (JOG). Statoil believes that the 20/05b-13z well has proven a minimum recoverable resource of 25mmbbls, and that the upside could be as much as 130mmbbls. The JV has not at this stage provided details of the discovery such as sand quality and thickness, or of the location of the sidetrack. Appraisal wells will now be planned to assess the commerciality of Verbier, and to mature further prospectivity in the P2170 licence including the Cortina prospect and Meribel lead.

Read more...