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US Ethylene Stocks – Too Early to Call

While it is always tempting to upgrade a stock or a sector when ones competitors are finally throwing in the towel, it is too early to call for US ethylene. The two most exposed ethylene stocks, LYB and WLK, have

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China – Look For The Commodities That Are Less Oversupplied

China’s interest rate cut has got everyone’s attention today and the markets are rallying as are most commodities.  We have seen interest rate cuts all over the world over the last two years and their impact on economic growth/consumer spending

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Relative Price & Value of pre-Phase III Pipelines for the 23 Largest Drug & Biotech Companies – Updated View

We use patent data to estimate the amount and quality of innovation in companies’ pre-phase III (aka ‘hidden’ pipelines); we then determine whether companies’ share prices accurately reflect what’s in these hidden pipelines.  Since inception (November 2012), companies that screen

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Quick Thoughts: Qualcomm Analyst Day – Hang On for a Bumpy Ride

–       China is a double-edged sword for QCOM – regulators and scofflaws plague QTL, while QCT is successfully competing for Snapdragon and baseband business. –       Projected device ASP erosion of 9-10% will hit royalties, but will be offset by chipset

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Quick Thoughts – Implications of SnapCash for ACH and Person-to-Person (P2P) Payments

With its announcement of Snapcash on Monday, Snapchat (with a $10bn valuation in its last funding in August[1]) enters the market for integration of social media and person-to-person (P2P) payments in competition with PayPal’s Venmo (which handled over $300mm in

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Hold-Out States Will Expand Medicaid – Just Ask History

The original Medicaid program was passed in ’65, going into effect in ’66 – and only 26 states joined the program in that first year. By 1970 all but Alaska and Arizona had joined; Alaska held out until ’72, Arizona

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SCOTUS Round II: Does King Really Matter?

The Supreme Court of the United States (SCOTUS) will hear arguments in King v. Burwell, in February or March of 2015, with a ruling likely in June of 2015. A decision to uphold King would mean persons buying health insurance

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SaaS Revisited: Still Growing After All These Months

SaaS Revisited: Still Growing After All These Months The dramatic cost and performance advantages of web-scale cloud platforms over private data centers have lowered the barriers to entry for “Software as a Service” (SaaS) application developers – opening the door

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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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Quick Thoughts: QCOM – Little Trouble in Big China

–       QCOM delivered 4QFY14 results EPS of $1.26 on sales of $6.69B, falling short of the consensus expectations of $1.32 and $7.03B in revenue –       QCOM is struggling to collect royalties from unprofitable secondary Chinese brands in the midst of

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