Informatica Lowers Guidance Again
Data software solutions provider Informatica lowered its second-quarter guidance for the second time this year. Shares continue to fall.
Brian Nelson
Seagate Warns About Revenue and Earnings
Hard-drive storage manufacturer Seagate Technology will not meet its own expectations. The industry continues to recover from the flooding in Thailand.
Can Navistar Make a Comeback?
Truck maker Navistar announced that it is ditching its diesel engine that failed to receive US regulatory approval in favor of a new one. The shares have fallen below the low end of our fair value range, but we’re not ready to pull the trigger anytime soon.
AutoNation and Volkswagen Report Good News
Car dealer AutoNation reported fantastic results for June and its second quarter. German auto manufacturer Volkswagen will finally acquire the rest of Porsche.
International Speedway Posts Solid Results
The NASCAR racetrack owner posted strong results Thursday. The firm’s middle class consumer is returning slowly.
June Same Store Sales Actually Weren’t Bad
Though a few companies fell short of expectations, we thought June same-store sales numbers were mostly positive. We think lower energy prices may have reinvigorated the US consumer during the month.
Strong Auto Sales Continue in June
Sales in the US remained strong throughout June. We think SAAR will remain above 14 million units for the remainder of 2012.
Ancestry.com’s Subscriber Growth Remains Strong
On Monday, Best Ideas Portfolio holding Ancestry.com (ACOM) announced that it has added its 2 millionth active current subscriber, alleviating concerns regarding a subscriber growth slowdown in light of shaky consumer discretionary spending. We continue to expect Ancestry.com’s subscriber growth trajectory to be robust through the end of this year and into 2013 thanks to the release and digital indexing of the 1940 US Federal Census. We also find it probable that Ancestry.com’s management remains in talks with private-equity firms for a sale of the firm. But even if talks do not amount to much, we’re content with the recent pricing action from Ancestry.com and expect the firm’s shares to continue to converge to our estimate of their fair value … Read more
Bristol-Myers Squibb and AstraZeneca Purchase Amylin
The two pharmaceutical companies will collaborate to commercialize the diabetes portfolio of Amylin. We think the deal is value neutral.
KB Home’s Results Are Consistent With Lennar’s; New Housing Improving
The challenged homebuilder KB Home reported a better than expected loss for its second quarter as both margins and demand increased.