SSR LLC ANNOUNCEMENT: GRAYSON ANDERSEN JOINS AS HEAD OF ENERGY RESEARCH
 FOR  MORE INFORMATION ABOUT SSR’S PRODUCTS & SERVICES, PLEASE CONTACT:
CARL RINALDI at 203-901-1628 or crinaldi@ssrllc.com

 

Sector & Sovereign Research

Stamford, CT

Industrials / Basic Materials

Graham Copley

Healthcare

Richard Evans

Tech / Media / Telecom

Paul Sagawa

SSR LLC

is a differentiated investment research boutique built to provide an essential, yet missing, element of research: the weighting of sub-sectors within broad industrial categories.  By simultaneously maintaining both a broad view of our industries, a fundamentally detailed view of the sub-sectors that make up these industries, and the most interesting stocks that make up those industries, we offer guidance on portfolio composition that we believe is both highly impactful, and otherwise unavailable. Learn More…


Healthcare

2017 consensus for SNY’s US basal insulins fell from $9.9B to $7.5B after the company warned 2015 sales growth would be flat, citing price competition. We believe estimates have fallen too far, and imply an unstable pricing environment with significant downside risks. In contrast, we believe current levels of US net pricing are at the very least stable, and may improve…Read more

Tech / Media / Telecom

The TMT sector is in the midst of a comprehensive once-in-a-generation paradigm shift driven by the contemporaneous maturation of several key innovations that offer consumers and businesses new and significantly better ways to use information.  In this, we expect the few platforms that control user experiences (AAPL, GOOG, MSFT, maybe AMZN) will capture a disproportionate share of value… Read more

Industrials / Materials

While it is always tempting to upgrade a stock or a sector when ones competitors are finally throwing in the towel, it is too early to call for US ethylene. The two most exposed ethylene stocks, LYB and WLK, have had a terrible run and are now both trading below our normalized value, but we are still not ready to change our bearish view. All things being equal, at $70 Brent, European ethylene economics should… Read more   

Financials

Financials Picture Web SizeWith its announcement of Snapcash on Monday, Snapchat (with a $10bn valuation in its last funding in August[1]) enters the market for integration of social media and person-to-person (P2P) payments in competition with PayPal’s Venmo (which handled over $300mm in consumer payments in FQ12014 putting it on a par with the SBUX mobile app – see Chart); the back-end for Snapchat is provided by Square which expands the potential reach of its Square Cash product to the 100mm MAU’s of Snapchat. These direct-messaging services compete… Read more

Consumer

Shopping Carts This morning, ADM hopped on the M&A carousel and announced that it was acquiring WILD Flavors GmbH for approximately $3.0 billion.  WILD is a peer to companies such as International Flavors and Fragrances (IFF) and Givaudan, producing flavors and taste modifiers. To the point, we aren’t a fan of the deal, for a number of reasons… Read more

Energy

Energy Initiation: The US is Drowning in Crude. morning after a serious earnings miss.  The strong US dollar has been a big headwind for all commodities, including crude oil, since the start of the third quarter with the DXY rising almost 8% Both Brent and WTI have fallen over 20% during the same period despite geopolitical concerns in significant…Read more   

 

SSR LLC ANNOUNCES CARL RINALDI TO JOIN AS A PARTNER AND HEAD OF SALES   

SSR LLC (SSR) is pleased to announce that Carl Rinaldi joined its leadership team on March 11th 2014 as a partner and as Head of Sales.  Carl brings 32 years of experience in the financial markets, the last 22 of which were at Sanford C Bernstein where he was most recently Head of US Hedge Fund Sales and Head of New York Metro Sales…Read more


 

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