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DVA / FMS: Generic Epogen Accretive to EPS

Medicare pays for 85 pct of US dialysis treatment; since 1Q2011 Medicare has paid for treatments on a bundled basis, i.e. with a single payment covering all of dialysis providers’ costs including drugs Erythropoiesis stimulating agents (ESA’s) are roughly 1/4th

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More from the EPA on the Ethanol Mandate

There were a number of articles yesterday suggesting that U.S. Environmental Protection Agency (EPA) is considering dialing back its requirements on the use of ethanol in 2014.  This news should not come as a surprise to anyone given the EPA’s

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Aluminum – Demand is Not the Issue

On the face of it Alcoa might be an interesting stock given the extremely attractive valuation, an economic recovery (although muted) from the trough and thus the potential of the usual cyclical recovery.  But it has not played out that

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October 8, 2013 – Twitter: How Tweet it Is!

TWTR’s S-1 affirms its considerable growth and profit potential. Sales have more than doubled YoY, driven by 44% growth in users, 16% growth in visits per user, and 23% growth in ad revenues per visit. We believe that all of

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September Spending Woes

We tend not to get bent out of shape (or comment on) the kabuki theater that is Washington politics these days unless it starts to impact the consumer (i.e.  Food Stamps, sequestration cuts, etc.).  In the case of the current

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October 1, 2013 – Smartphones Today: Looking High and Low

All of the major smartphone players face big questions in 4Q. Media types gushed over the new iPhones and existing customers stood in line to buy them in record numbers, but by resolutely ignoring the global consumer’s preference for larger

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August Home Prices +12.4%

The most recent CoreLogic home price data (August) remains very constructive – +12.4% year over year and +0.9% sequentially when compared to July.  This marks the 7th consecutive month of double digit increases and the 18th consecutive month of positive

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A Simple Yardstick for HIE Enrollment: CBO’s Revised Estimate Looks Like an Outer Boun

CBO* estimates that roughly 20 million subsidy-eligible persons will enroll on the individual health insurance exchanges (HIEs) by 2017, and that this level of enrollment will remain roughly stable over the forecast period (2023)   We believe the 20 million

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We’ve Talked Houses, How About Households?

The Census Bureau defines household very simply – “all the people who occupy a housing unit.”  To many people, household is synonymous with “family”, but that isn’t necessarily the case – the Census Bureau tracks both family and non-family households. 

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SSR Index of Current-Quarter Healthcare Demand Growth, Interim 3Q13 Estimate

We expect 3.6% (nominal) y/y growth in US health services demand during 3Q13, the product of 2.1% growth in unit demand, and 1.4% price growth. The 2.1% unit growth forecast is a 30bp retreat from our initial 3Q13 estimate; the

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