…n higher real rates and a stronger USD, which ultimately should benefit our Growth to Value rotation trade of long XLF calls versus short QQQ calls (see Chart 15). The S&P 500 was more-or-less flat week-over-week as it gained only 6bps. The tech selloff continued, however, and th...
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…can live with that.” m= —Edward Snowden, Hong Kong During his interview with Poitras and Greenwald, Snowden said stoically “If I am arrested, I am arrested.” His fatalistic words notwithstanding, Snowden had made plans to seek a haven from American justice well before his meeti...
to the credibility of online reviews, 4) Instant Book transition puts pressure on revenue growth, and 5) mobile monetization headwinds. Upside risks to our price objective are: 1} improved mobile monetization 2} major OTA sign on for instant booking 3) high non-hotel shopper dol...
…ected Date Level Trade Term 6.9% (FB), 1.2% (AMZN), 9.4% (NFLX), 6.2% (GOOGL) Trade Description Rationale Buy 6m ATM calls on FB, AMZN, NFLX and GOOGL 30-May-17 Stock replace FANG stocks Buy a 6m outperformance call on FANG stocks vs. SPX conditional on SPX> ae . . . 30-May-17...
…e Internet froze. 212 On November 2"¢ and 3rd, 1988 machines around the world were shut off, cables were pulled out of walls, and systems were wiped and restarted in a race to stop the robot-like spread of the disease and then to finally kill it off. 213 The Morris Worm was, on...
…2: As a shareholder, what statement most closely aligns with your view on how traditional financial institutions should allocate investment spending on innovation? 80% 70% 60% 50% 40% 30% 20% 10% 0% Investment spending on Given the revenue Institutions should focus on innovati...
…he tipping point for EPS Europe trailing EPS growth vs World GDP Chart 28: Synchronised rise in leading indicators globally augurs well for earnings recovery — especially if PMs kick on to or above mid-50s 50% 7% 65 60 40% - ' 0 30% 504 20% : 56 20 10% 4% 50 0% 3% P 0 “10% 2%...
Cirant_Siith070964°eMailContent.htm Las Olas City Centre, Bank America Building 401 East Las Olas Boulevard Suite 1650 Fort Lauderdale, FL 33301 file:///C\/Documents%20and%20Settings/T! rial/Desktop/B...uction/eDocs/eMail/Grant_Smith070964“eMailContent htm (5 of 5) [11/6/2010...
…s >>>> Bullish 3Mth ATMf implied 3Mth 90%-110% risk Equity volatility Real vol* 3Mth 95%-85% put spread 3Mth 100%-110% call spread** reversal** index _ Current Current Current price Weekly Max price Weekly Max price™* Weekly Weekly 2Yr (%of change 2Yr payout (%of change 2Yr payo...
…eek following a historic US presidential election that helped boost bank stocks by 12%, bank management teams were generally optimistic with regards to the economic outlook heading into 2017. Greater fiscal stimulus that is expected to spur economic growth coupled with potential...
Research Analysts James Barty >> Ajay Singh Kapur, CFA >> Investment Strategist Equity Strategist MLI (UK) Merrill Lynch (Hong Kong) +44 20 7996 3291 +852 3508 7753 [email protected] [email protected] Ronan Carr, CFA >> Shusuke Yamada, CFA >> European Equity Strateg...
…e now significant for cannabis compliance. Licenses and authorization must be obtained for certification. This is especially required for pharmaceutical grade cannabis, which is why many Canadian LPs can export to Europe and made investments to build GMP-certified facilities. Alt...
… Alibaba valuation discount is higher than expected, 3) Verizon's pending acquisition of Yahoo core assets is delayed/challenged, 4} valuation of Yahoo! Japan falls, and 5) valuation of Excalibur patent portfolio falls. Yelp (YELP) Our $43 price objective is based on 14x 2018E...
…wn nel sued his old friend Jeffrey | from grace had cost him milk ed him “severe emotional stress.” J Brunel is emotionally destroyed Fittuy Ricu as a result of Epstein’s actions and the resulting effects on his busi- ness. He has been on medications to deal with the effects o...
Morgan Stanley | RESEARCH INDUSTRY COVERAGE: Brokers & Asset Managers COMPANY (TICKER) Michael J. Cyprys, CFA, CPA Apollo Global Management LLC (APO.N) Ares Management, L.P. (ARES.N) BlackRock Inc. (BLK.N) Charles Schwab Corp (SCHW.N) E*Trade Financial Corp (ETFC.O) Franklin...