We must work out if one year of increased spending is enough to boost growth and brand positioning, or will 2007 guidance come under further pressure.
More Quotes from Morgan Stanley:
We continue to struggle to find attractive valuations in the sector, and, in contrast to last October, we feel short term drivers are turning negative rather than positive.Morgan Stanley
Net interest margin and Net interest income were stronger than expected, as BAC kept a tight lid on deposit pricing, shrank the securities portfolio and delivered strong loan growth. This should help reduce investor concerns on the bank's ability to manage through the flat yield curve.
Morgan Stanley
While 2006 earnings targets appear achievable, we are concerned with the projected sustainability of volume and margins at the core Auto division. Fiat is not alone in lowering costs within its industrial base. Rival volume makers such as VW, Renault, Peugeot-Citroen, GM and Ford will also make significant restructuring improvements. In addition, Japanese and Korean market share gains are set to accelerate, putting manufacturers like Fiat on the hot seat.
Morgan Stanley
Without deferred tax credits, Hutchison needs to book exceptional gains this year to keep profits firmly in the black. We hope that this spurs the company into more corporate activity.
Morgan Stanley
(This) should lead to strong order intake and rising profit margins for European oil services firms.
Morgan Stanley
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