The fiscal 4th quarter of 2023 produced a broadly based rally among all classes of equity index in North America. The DJIA increased by 12.5% in Q4. The S&P 500 advanced 11.2% and the NASDAQ Composite Index continued its turnaround…
Yearly Archives: 2023
Gnostic Capital Portfolio Report for the Fiscal Quarter Ended 12/30/2023 and for Fiscal 2023.
Posted in Open Blog
Grupo Aeroportuario Del Sureste (ASR-NYSE, $262.64) Regulated Tariff Rate Base Determination for Coming 4 Years is Not Nearly as Bad as Was Feared.
ASUR, the operator of Mexican airports, best known as the manager of the Cancun International Airport, received a Mexican rate determination that should be less punitive on the bottom line than was anticipated back in August. The outgoing president of…
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Solvay SA (SOLB.BR) And Syensqo (SYENS) Complete Their Separation.
Solvay SA, the world’s largest producer of soda ash, has successfully separated their value added materials business, which trades under the name of Syensqo. Solvay shareholders, at the time of demerger, will receive shares in Syensqo pro rata to their…
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The Cigna Group (CI-NYSE, $300.58) Walks Away From a Takeover/Merger with Humana Inc. (HUM-NYSE, $472.88).
In a happy turn of events, Cigna management decided to end all negotiations with Humana Inc. on a combination. I have argued, backed by volumes of capital markets texts, that one of the most destructive capital markets transactions is a…
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The Cigna Group (CI-NYSE, $262.87) Contemplates Blowing the Last Three Years of Progress on a Highly Dilutive Acquisition of Humana Inc. (HUM-NYSE, $482.41).
Cigna Group and Humana Inc. shares both fell sharply today on a leaked rumor of a potential combination. Shareholders of Cigna and Humana were both flummoxed by the simultaneous decline; typically a takeover candidate rises in price on merger news,…
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