Category: Investment Banks

META: Where Will Growth Come From?

META: Where Will Growth Come From?

Analysts estimate that META will grow revenues in 2023 over 2022. However, the estimates I see imply that revenue growth will be back-end loaded. We know how that usually ends. I see META struggling to generate year-over-year Revenue growth and expect for 2023 to be a down Revenue year. Zuckerberg is not an Operator. META's … Continue reading META: Where Will Growth Come From?

Why The Fed Should Hike By 50 BPS

Why The Fed Should Hike By 50 BPS

The sooner the Fed gets to where it is going, the sooner it may pause and observe. In addition, Treasury yields remain negative across the yield curve which is not long-term healthy for the economy. The Effective Fed Funds rate range stands at 4.25-4.50%. If the Fed believes that the upper bound should sit at … Continue reading Why The Fed Should Hike By 50 BPS

WWE Is Comcast’s To Lose

WWE Is Comcast’s To Lose

I don't buy the idea that anyone other than Comcast (CMCSA) will acquire WWE (WWE). As I previously wrote, Comcast partners with WWE, knows the brand, features WWE content on its Peacock streaming service, did months of heavy lifting to port WWE Network content to it's Peacock platform and has built relationships with WWE executives. … Continue reading WWE Is Comcast’s To Lose

Q4’22 EPS Call Buzzword: “Cautious”

Q4’22 EPS Call Buzzword: “Cautious”

Get ready to hear the word "cautious" repeated ad nauseam on forthcoming Technology company EPS calls this month and next. Temenos (tkr: TEMN), is one such example. You may read the FinTech company's Q4 press release here: https://www.temenos.com/news/2023/01/16/temenos-pre-announces-preliminary-q4-and-fy-2022-results-bxf9181m/ Temenos also announced a CEO change. I expect to see more CEO changes than normal in 2023. … Continue reading Q4’22 EPS Call Buzzword: “Cautious”

Technology Leaders Will Gain Share

Technology Leaders Will Gain Share

Past recessions have taught us that leading Technology companies typically gain marketshare during down economies. I would expect this economic down period to be no different. Good news for Amazon (AMZN), Microsoft (MSFT), and others. Amazon (AMZN) and Microsoft (MSFT): Amazon's AWS unit and Microsoft's Azure unit will be mixed bags: Usage: Usage - and … Continue reading Technology Leaders Will Gain Share

M&A Activity Continues To Slide

M&A Activity Continues To Slide

Yours truly received some pushback end of last year when I said that higher interest rates and a slowing economy would slow the pace of Tech M&A activity. The number of Tech M&A deals in November was down more than 47% year-over-year. Tech M&A volume has experienced double-digit percentage, year-over-year declines since February of this … Continue reading M&A Activity Continues To Slide

2023 Won’t Be Pretty For CRE & Housing

2023 Won’t Be Pretty For CRE & Housing

2023 is shaping up to be a tough year for the CRE and Housing markets as interest rates remain elevated. When I think of the pension funds that own CMBS debt I shudder. Pension funds that invested in alternative asset classes over the past 20 years will have to mark down their books for the … Continue reading 2023 Won’t Be Pretty For CRE & Housing