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What Healthcare Stocks’ Share Prices Imply about Future Growth, and How this Squares (or not) with Fundamentals

Hospitals are benefiting from rising patient flows and reduced costs for uncompensated care; however as insured patients move to cheaper forms of coverage they owe larger percentages of hospital bills, which they often don’t pay. Thus Hospitals’ net pricing is

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The Power Of Positive Thinking – APD and the DD read-through

If the previous management of Air Products had delivered a quarter that included the following, the stock would have been down meaningfully on the day: A year on year decline in operating income from its core gases business A write

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TMT: Portfolio Update – Dreams, Comebacks, Skeptics and the Death Watch Redux

  TMT: Portfolio Update – Dreams, Comebacks, Skeptics and the Death Watch Redux Last quarter, we created a framework to assess TMT stocks, juxtaposing near-term cash flow expectations (5-year consensus cash flows) with long term expectations (post 5 year cash

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Sensors: What’s in YOUR Smartphone?

Sensors: What’s in YOUR Smartphone? In the growing functionality of high end devices, the spread of basic smartphones, and the emergence of new device types – wearables, etc. – sensors are a $60.4B market that is growing at a 9.2%

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The Most Important Question to Ask on Earnings Calls – Q4 Demand!

We have touched on the subject of inventory drawdown in Q4 in a couple of recent reports, but the more we think about the subject and refer back to history, the more we believe that this could be the most

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SSR Health New Product Approval Portfolios & Supporting Data Update

Drug, biotech, and research-based spec pharma stocks tend to outperform their peers in the year or so before and after regulatory actions (‘PDUFA’ dates) on major new products, with a large portion of total risks being concentrated in the days

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Quick Thoughts – Initially Apple Pay More Disruptive Online than at Point-of-Sale

Apple’s new iPads (iPad Air 2 and iPad Mini 3) announced today will have TouchID and hence allow for Apple Pay purchases within apps supporting the Apple Pay API (albeit not at point-of-sale since the iPads do not have NFC

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Deere – The Floor Looks Robust

In times when market momentum is very obviously directionally downward, certain stocks inevitably stick out as better insulated to the sell-off. With the S&P shedding more than 5% over the past week, DE has held firm around the $80 level

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WAG/RAD: Pressure on generic dispensing margins likely to be much more permanent than guidance implies

WAG & RAD both recently lowered guidance; both blame falling generic dispensing margins. In each case the companies point to pressures on both sides of the margin equation – rising generic acquisition costs, paired with lower-than-expected reimbursement Unravelling the relative

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Quick Thoughts – Expect MCX and Apple Pay to Partner

Bob Carr, the CEO of HPS, has commented that Apple Pay will make it difficult for MCX to sustain its policy of requiring members to accept only the CurrentC mobile wallet: “I don’t see how that [the exclusivity policy] survives.

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