Money and Finance
- Howard Marks On How Earnings Lead To Stock Appreciation
From "Returns and How They Get That Way" (November 2002):"The vast majority of stocks are bought for the stream of earnings the companies produce. But how do those earnings affect investors – get through to investors – if not in the form of dividends?...
- Hussman Weekly Market Comment: Reported Earnings Versus "owner Earnings"
Over the years, I have frequently emphasized that stocks are not a claim on "forward operating earnings." They are not even a claim on reported net earnings (and should not be valued as a blind multiple to a single year's results in any event). They...
- Bemis Company, Inc. Dividend Stock Analysis
As part of building a diversified dividend growth portfolio it's important to own not only a number of companies but also companies that operate in a variety of industries. Previously I've looked at some restaurants, beverages, and consumer staples...
- How Yummy Is Yum Brands' Valuation?
Last week I updated my valuation of McDonald's Corporation (MCD) and the price appears to offer a decent value. You can read the full analysis here. As more of a growth play I wanted to take a look at its largest competitor YUM! Brands,...
- Is There Value In Dr. Pepper Snapple Group Inc.?
Earnings season is in full swing and with each new release comes some more data points on both past and future results. On February 12th management at Dr. Pepper Snapple Group, Inc. (DPS) announced 4Q 2013 and full year results. Last week...
Money and Finance
Earnings surprises, price reaction and value - By Aswath Damodaran
Professor Damodaran also attaches a link to his Apple valuation spreadsheet at the end of his post.
The earnings season is upon us and each company’s earnings announcement is eagerly awaited, traded upon and talked about. For widely followed companies like Apple, the obsession with what the next earnings report will deliver overwhelms any sensible assessment of what it means for the company. But is this obsession merited? Do earnings announcements have significant effects on value? If so, why? More importantly, can you make money off earnings announcements?
- Howard Marks On How Earnings Lead To Stock Appreciation
From "Returns and How They Get That Way" (November 2002):"The vast majority of stocks are bought for the stream of earnings the companies produce. But how do those earnings affect investors – get through to investors – if not in the form of dividends?...
- Hussman Weekly Market Comment: Reported Earnings Versus "owner Earnings"
Over the years, I have frequently emphasized that stocks are not a claim on "forward operating earnings." They are not even a claim on reported net earnings (and should not be valued as a blind multiple to a single year's results in any event). They...
- Bemis Company, Inc. Dividend Stock Analysis
As part of building a diversified dividend growth portfolio it's important to own not only a number of companies but also companies that operate in a variety of industries. Previously I've looked at some restaurants, beverages, and consumer staples...
- How Yummy Is Yum Brands' Valuation?
Last week I updated my valuation of McDonald's Corporation (MCD) and the price appears to offer a decent value. You can read the full analysis here. As more of a growth play I wanted to take a look at its largest competitor YUM! Brands,...
- Is There Value In Dr. Pepper Snapple Group Inc.?
Earnings season is in full swing and with each new release comes some more data points on both past and future results. On February 12th management at Dr. Pepper Snapple Group, Inc. (DPS) announced 4Q 2013 and full year results. Last week...