Results for “PT Merrill Lynch”

…ch Global Research Chart 85: After this conversation, have you changed your mind on how financial institutions are adopting big data in their businesses? 60% 55% 50% 40% 30% 23% 23% 20% 10% 0% Financial institutions are more Financial institutions are less No change committe...

…s by US multinationals at a reduced effective tax rate of 5.25% (vs. the statutory 35% rate), based on an allowable exemption of 85% of foreign earnings from US taxes (35% x [1-85%] = 5.25%). This deduction could be claimed in the tax year beginning before or after the passage da...

iQmethod™ Measures Definitions Business Performance Numerator Denominator Return On Capital Employed NOPAT = (EBIT + Interest Income) * (1 - Tax Rate) + Goodwill Amortization Total Assets — Current Liabilities + ST Debt + Accumulated Goodwill Amortization Return On Equity Net...

Under our base case, which assumes a rebound in oil prices towards $70 from 2020, we see fair value as reasonably around $80 per share. If non-producing asset value is included {around $3bn or ~$9/sh), we estimate this would be closer to $90. Table 3: At our base case, we see fa...

… these companies initially outperformed both the S&P 500 and equal-weighted S&P 500 from November 2004-April 2005 (by 6ppt and 5ppt, respectively), they subsequently underperformed during the remainder of 2005 and early 2006 (Chart 6). From the end of September 2004 through year-...

regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong}: Merrill Lynch (Asia

regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong): Merrill Lynch (Asia

regulated by the Investment Industry Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico

…this sector in all regions of the world. If earnings continue to improve and yield rise, which is often the case in an upturn in our Global Wave, then the unloved Financials sector has the potential to continue to outperform. Global Quant Panorama: "Bearish on Bonds" stocks (whic...

…[email protected] Abhinandan Deb >> Equity-Linked Analyst MLI (UK) +44 20 7995 7148 [email protected] Anshul Gupta >> Equity-Linked Analyst MLI (UK) +44 20 7996 7062 aguptal [email protected] William Chan, CFA >> Equity-Linked Analyst Merrill Lynch (Hong Kong) +852 3508 3921...

…tter chance to be included into the JPM GBI-EM Global/Diversified index. While the exact timing is hard to predict, an optimistic scenario possibly leaves 2H17 on the table. Usually when a big country is being included, bonds are introduced slowly over many months to enable clien...

…ers of any privatised assets. However, any substantial privatisation process, or the potential created by widespread adoption of private health insurance in general, could attract interest from foreign investors or operators. We note only a small number of international hospital...

organic and M&A driven growth opportunities during the next downturn. That said, management noted that it was very likely that potential pro-growth measures taken by the incoming Trump administration could push out any downturn, as in the short run the economy would witness stron...

At this juncture, the Indian rupee seems to be the only one in the region that is expected to display a much lower sensitivity to US rates, outperforming others within Asia. We expect the Monetary Authority of Singapore to keep the SGD NEER in the weaker side of the band for the...

…s. ¢ Anincrease in market volatility associated with USD/CNY rising to 8.00 would raise the depreciation of EM FX by 1ppt (BRL)-11ppt(ZAR) relative to our 7.25 baseline. « In our base case of USD/CNY rising to 7.25 by end-2017, the market is overpricing depreciation pressures f...