Compass has issued, for the first time in a while, a trading statement that does not include a profit warning. Trading and management's initiatives appear to be running to schedule.
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With sustainable high-teens earnings-per-share growth, no matter what the cycle, we think a market multiple significantly undervalues this excellent retailer.Merrill Lynch
However, there is a risk that less easing is in store since the 3 percent growth we expect, on average, in the first half of 2006, may not be enough to convince the Fed to start cutting rates by mid-year. Thus there is a risk that the yield curve remains inverted for longer than we have built into our forecast.
Merrill Lynch
We believe CFO Mike Lehman is one of the most conservative on the Street, and we have no reason to believe there are any accounting irregularities at the company.
Merrill Lynch
We met with BT's management yesterday and we did discuss the possibility of a break up. He thought the financial engineering could work but he thought long term separating BT Wholesale from BT Retail would destroy value.
Merrill Lynch
We believe UPS is the most financially fit, well managed parcel company and, in our opinion, one of the quality management bets in the industry.
Merrill Lynch
Our intermediate-term 'strong buy' rating for Intel stands -- first-quarter PC inventory rebuild should temper seasonal weakness.
Merrill Lynch
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The moment you start to talk about playing music, you destroy music. It cannot be talked about. It can only be played, enjoyed and listened to.
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It is easier to be critical than correct.
Benjamin Disraeli