Category Archive for "Research"

Home »

Ethylene – The US Remains The Center Of Attention

In late March we published a longer term view of ethylene. Our focus was on what we still believe will be a weakening second half of 2016, possibly more accelerated if Europe is weak – a concern raised by CAT

Read More

Monsanto/Bayer – Brexit Raises a Significant Currency Problem

While we think we have a willing buyer and seller on this deal, clearly negotiations have hit a stumbling block, with MON making it very clear that it is looking for other possible partners and BASF mentioned again in the

Read More

Hyperscale Hardware: Components for the AI Cloud

Hyperscale Hardware: Components for the AI Cloud As the TMT world moves resolutely into the AI/cloud era, investment in hyperscale data centers is surging, while spending on private enterprise data centers has begun an inevitable decline. Hyperscale architecture differs from

Read More

Axiall – Don’t Listen For The Fat Lady Quite Yet!

  Lotte may consider themselves the “White Knight” for Axiall, but unless they are riding a very big horse and have very large amounts of money in the saddle bags, this story may be far from over. A stock bid

Read More

A Deep Learning Primer – The Reality May Exceed the Hype

A Deep Learning Primer – The Reality May Exceed the Hype Deep learning based AI will drive the next phase of disruption for TMT. Leveraging hyperscale data centers and ubiquitous mobile devices, AI systems that allow computers to interpret ambiguous

Read More

AXLL – Expect a Sale Eventually – Stock Could Drop if WLK Suspends Interest

Since the publication of the most recent AXLL defense document 10 days ago, there has been (public) radio silence from WLK regarding the rejected WLK bids. Axiall seem confident that they can win a proxy fight, or at least keep

Read More

Axiall Strikes Back, but Painting a Very Bleak Picture for Polyethylene vs PVC

On May 9th Axiall issued a presentation defending its position with regard to the hostile takeover move from Westlake and in anticipation of a potential proxy battle. It is a well-constructed presentation and obviously self-serving, but on the whole an

Read More

Quick Thoughts: Facebook F8 – Bots Offer Path to M-Commerce

CEO Mark Zuckerberg hit the stage for the keynote at FB’s annual F8 developers conference. The biggest reveal was a program to enable businesses to use AI-based “bots” to execute customer service communications across FB’s messaging platforms, a first step

Read More

Axiall – Something Else Up Its Sleeve?

Axiall’s apparent reluctance to engage with Westlake in a formal discussion with respect to Westlake’s offer (resulting in a higher bid from Westlake this morning) suggests one of two possible positions: Axiall believes that it can win a proxy battle

Read More

SHW/VAL – An Expensive Deal Not Without Its Hurdles

The announced acquisition of Valspar by Sherwin Williams, while consistent with our broad view on consolidation does not really tick any of the boxes we identified. This is not a segment facing massive offshore competition, nor is it oversupplied. Both

Read More
test