Risk-to-Price Commentary: Merck Finanz AG May 11
Standard & Poors, May 2011
Abstract
Of the companies in the S&P Europe 350 Index, 135 have so far reported their calendar first-quarter earnings (197 in total are due to report this quarter), with a 57% positive surprise for all 10 aggregated sectors, according to Capital IQ data. The health care sector had 75% of its companies post positive surprises--the highest share among the 10 index sectors. The Valuation and Risk Strategies (VRS) research team looked at the Capital IQ forecast for the health care sector and found that the analysts' poll expects earnings to grow 33% over the current year, and then to subside to 7% in the following two years (see chart 1). The VRS research team then looked to see if European health...
Companies mentioned in this report are:
- Bristol-Myers Squibb Co.
- Johnson & Johnson
- Pfizer Inc.
- Millipore Corp.
- Bayer AG
- GlaxoSmithKline Capital PLC
- AstraZeneca PLC
- Sanofi
- Bayer Capital Corp. B.V.
- Merck Finanz AG
- Fresenius U.S. Finance II Inc.
- Roche Finance Europe B.V.
- Merck Financial Services GmbH
- FMC Finance VI S.A.
- Cegedim S.A.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Bristol-Myers Squibb Co.
- Johnson & Johnson
- Pfizer Inc.
- Millipore Corp.
- Bayer AG
- GlaxoSmithKline Capital PLC
- AstraZeneca PLC
- Sanofi
- Bayer Capital Corp. B.V.
- Merck Finanz AG
- Fresenius U.S. Finance II Inc.
- Roche Finance Europe B.V.
- Merck Financial Services GmbH
- FMC Finance VI S.A.
- Cegedim S.A.
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW5
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
