Markel Corporation Conference Call: Tom Gayner Still Finding Value

Markel Corporation (NYSE:MKL) reported Operating EPS of $8.29 beating  consensus of  $5.47. The beat was mainly driven by a lack of catastrophes, a lower accident year loss ratio, and a higher level of favorable reserve development than  expected. Investment income and income from Markel ventures were ahead of estimate...

Sell-Side Analysts: Inside the Black Box

The goal of this study is to penetrate analysts’ “black box” by providing new insights into the inputs analysts use to make their decisions and the incentives that influence these decisions. We survey 365 sell-side analysts and conduct 18 detailed follow-up interviews. Analysts indicate that industry knowledge is the...

Hedge Funds Win With Long/Short Strategies in Q1

Not surprisingly, Equity Long/Short turned out to be the best-performing strategy in Q1 with an average return of 4 percent, as calculated by various hedge fund data sources. Among the small to medium sized hedge funds, Glenhill Capital was up 5.8 percent in the first two months of the...

Facebook Is Fine, The Guardian Is Not

Yesterday we reported on a story that had originally appeared in the Guardian, claiming that Facebook Inc (NASDAQ:FB) had lost 10 million users in the twelve months ending March 2013. After a Nielsen source confirmed our suspicions, it is clear that the way in which The Guardian presented the...

LinkedIn Corp (LNKD) Report Q1 Earnings, Beat EPS $0.45

LinkedIn Corp (NYSE:LNKD) released its earnings report for the first three months of 2013 this afternoon after the market closed. The company recorded earnings of $0.45 per share for the quarter of the year on revenue totaling $324.07. On today's market, stock in LinkedIn Corp (NYSE:LNKD) trended up, finishing the...

Adidas AG Faces Contract Cancellations On Worker’s Rights

Adidas AG (OTCMKTS:ADDYY) (FRA:ADS) (ETR:ADS) is due to announce earnings at 1 am tomorrow morning. News from ESPN today suggests that the rest of the year might be a struggle for the company, as it face the cancellation of contracts and licensing deals on concerns about the company's worker...

Initial Claims Figures Likely Statistical Noise

As a backdrop for tomorrow’s big employment report, today’s seasonally adjusted initial claims figures came in at 324K, a decrease of 5.3 percent over the prior week.  Last week’s figure was down 3.7 percent over the April 13th initial claims count. Seasonal initial claims data The seasonally adjusted data can sometimes...

Hedge Funds Short Oil and Gas Explorers In UK

Oil and Gas Explorers are a new hedge fund favorite (well sort of)... While Odey Asset Management has a knack of betting rightly against several companies, we are not sure whether the timing of its latest short in Admiral Group plc (LON:ADM), a UK based auto insurer, was motivated by...

Housing Bubble 2.0: Cheap Money Blows Up Las Vegas

Reuters published a special report this morning on a new housing bubble that is taking form in Nevada, particularly around the city of Las Vegas. Nevada was one of the states hardest hit when the housing bubble burst in 2007/2008. Now investors are coming in and inflating a new...

Solar Electricity Boom Is Starting: Citi

The German state bank has announced new subsidies for energy storage. The scheme will subsidize storage facilities for solar energy projects to the tune of €600-€660, depending on whether the installation is new or whether it is retrofitted. The subsidies could mark a new boom in the solar electricity...

Archer Daniels Midland To Acquire Graincorp for $3.4B

Archer Daniels Midland Company (NYSE:ADM) announced yesterday that it has completed due diligence on Graincorp Ltd (ASX:GNC) and will proceed with a recommended takeover offer. Archer Daniels Midland Company (NYSE:ADM)'s Cash Offer Archer Daniels Midland Company (NYSE:ADM) announced that it intends to make a cash offer to acquire the outstanding common shares of...

Fortress Investment Group Q1 Earnings [ANALYSIS]

Fortress Investment Group LLC (NYSE:FIG) reported 1Q13 distributable EPS of $0.20, ahead of the $0.15 Street consensus. Incentive fees drove $41mm of the $43mm revenue beat. At the same time, Fortress Investment Group LLC (NYSE:FIG) total expenses were only $12mm higher against that revenue beat, driving the operating leverage. And on...

European Central Bank Cuts Interest Rate To New Record Low

European Central Bank has cut its benchmark interest rate to a record low 0.5 percent from 0.75 percent. European Central Bank Lowered Interest Rate In Response To A Drop In Inflation The European Central Bank has cut interest rates for the first time in 10 months on Thursday, amid ongoing worries about the...

Invesco Reports Strong Earnings, Gets Upgrade from Sterne Age

Invesco Ltd. (NYSE:IVZ), the investment manager posted its best performance in seven quarters when it announced its first quarter results. Invesco Ltd. (NYSE:IVZ) First Quater Earnings Climbed 18% The leading global investment management company said its adjusted Q1 earnings climbed 18 percent to 52 cents a share. The company’s assets under...

Warren Buffett is bullish on women in the Workforce

Warren Buffett with the late Katharine Graham of the Washington Post at his 50th-birthday party in 1980 In an exclusive essay the Berkshire Hathaway (BRKA, Fortune 500)chairman and CEO explains why women are key to America's prosperity. In the flood of words written recently about women and work, one related and hugely significant point...

Highfields Capital Issues Press Release Regarding Tim Hortons

Highfields Capital, a U.S. hedge fund wants Tim Hortons Inc. (NYSE:THI) (TSE:THI) to boost shareholder returns by taking on new debt to buy back its stock besides scaling back its U.S. expansion. Highfields Capital Intent The Boston-based activist investor Highfields Capital wants the coffee shop chain Tim Hortons Inc. (NYSE:THI) (TSE:THI) to spin off...

Och-Ziff Quarterly Profit Lifted By Strong Incentive Income

Och-Ziff Capital Management Group LLC (NYSE:OZM) said its quarterly profit more than doubled beating Wall Street’s forecasts. One of the world’s largest institutional alternative asset managers today reported GAAP Net Income of $26.1 million for the first quarter ended March 31, 2013. It also declared a cash dividend of $0.28...

Morning News: Facebook Inc (FB), General Motors, Visa, Moody’s, IBM

Morning Market Update  Stocks that are expected to trade actively in U.S. markets on Thursday include: Facebook Inc (NASDAQ:FB), General Motors Company (NYSE:GM), Visa Inc (NYSE:V), Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B), Moody's Corporation (NYSE:MCO), CIGNA Corporation (NYSE:CI), International Business Machines Corp. (NYSE:IBM) and Shutterfly, Inc. (NASDAQ:SFLY) Market Levels   US:  Dow Futures: 14723.00...

BMW's First Quarter Profit Beats Analyst's Predictions

The world’s biggest maker of luxury cars, Bayerische Motoren Werke AG (FRA:BMW) (ETR:BMW), reported impressive first quarter earnings and retained its 2013 forecast. The world’s leading maker of premium car by sales reported net profit of 1.31 billion euros ($1.73 billion) in the three months to March 31 compared with...

Frank Bisignano, Former JPMorgan COO on How he Feels about Dimon

Frank Bisignano, former JPMorgan Chase & Co. (NYSE:JPM) Chase Co-Chief Operating Officer and First Data Corporation CEO spoke with FOX Business Network’s (FBN) Melissa Francis about his departure from JPMorgan. When asked about the departures of nine executives from JPMorgan and whether he thinks things have changed in terms of loyalty...

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