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  • Editor’s Picks / 5 minutes ago

    Despite the hype, few M&A deals add value

    The Sydney Morning Herald
    Despite the perceived benefits of mergers and acquisitions, the authors of a 2011 Harvard Business Review paper found that "study after study puts the failure rate of mergers and acquisitions at somewhere between 70% and 90%". But not all acquisitions destroy value. Public companies tend to be more successful if they acquire private ones. And size matters: acquisitions tend to be more successful when the target is less than half the size of the acquirer. Finally, acquisitions should be avoided during sharemarket booms, when credit is easy, when an industry is structurally challenged and when business cultures are poorly aligned.
    Read article on The Sydney Morning Herald
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  • Editor’s Picks / 1 hour ago

    Indonesians upbeat about growth, ASEAN integration

    The Jakarta Globe
    Indonesians have good reason to be upbeat about their future. Despite volatile commodity and financial markets, the nation’s GDP has been growing at 5% to 6% for a decade. The number of well-off Indonesian households should reach 140 million in the next decade. Indonesia has the advantage of being the top economy in one of the world’s most dynamic regions – Southeast Asia. Combined, the ten ASEAN economies more than tripled in size between 2003 and 2013. And this vast market of 600 million people is steadily integrating, to achieve the Asean Economic Community 2015 goals of free flows of goods, capital and labour.
    Read article on The Jakarta Globe
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  • Squawk / Yesterday at 18:57 GMT
    Head of Macro Strategy / Saxo Bank
    Hasbro leads the way as the most active stock in the S&P 500:

    Hasbro, the manufacturer of games and toys, released its Q1 report earlier today, and the stock is the most active as a result, up nearly 12%.

    The Q1 shows a much better than expected result of $0.21/share vs. $0.07 expected - and this despite a FX-related hit to business of around $63 million. Sales totaled $713.5 million vs. $662 expected. Hasbro cites a larger contribution from the high-margin 'Entertainment and Licensing revenues' category as one factor among several, which helped mitigate the impact from FX.

    Royal Caribbean Cruises and CSX and also highly active today. The former reported earnings below The Street's consensus expectation and is trading down more than 7% so far for the day.

    CSX is up 5% for the day following a gain of 2.7% on Friday. The stock is trading at a 1-month high, but remains down 3.2% for the year.
    Read the Squawk
    Mads Koefoed Mads Koefoed
    IBM reports Q1'15 earnings at 20:30 GMT today. Consensus looks for (diluted) EPS of $2.81 compared with $5.99 in Q4'14 and $2.94 a year ago in Q1'14....
  • Article / Yesterday at 12:40 GMT

    #SaxoStrats: Saxo Bank tops FX Week charts again

    Managing editor, / Saxo Bank
    Our fantastic new #SaxoStrats campaign kicked off Monday morning and if you need any further encouragement as to why you should be following the Saxo strategy team, then what better reason could there be than yet another chart-topping performance in FX Week for Saxo Bank.
    Read the article
  • Saxo TV / Yesterday at 10:06 GMT

    Hardy: Reasons why USD could move to the weak side

    John J Hardy
    Saxo's John Hardy says the US dollar has its back against the wall and needs to survive some key resistance levels. He also discusses both the Aussie and Kiwi's rally off the back of the People's Bank of China's decision to cut its reserve requirement ratio. And he looks at EUR strength despite the ongoing issues with Greece.
    watch video
    AlexV AlexV
    John, not sure I follow your rationale for Eur v Greece. The funding trade using Eur and its association with risk on environment is fine, but it...
    John J Hardy John J Hardy
    Carry trade helps weaken Euro, risk off means people cover their euro shorts, so ironically (and probably only up to a point) if Greek disruptions lead to...
    John J Hardy John J Hardy
    Note that today's EURUSD sell-off, for example, coincided with a 200 point comeback from the DAX (though there is some reflexivity going on here as well, of...
  • Article / Yesterday at 9:45 GMT

    Daily Shot: Can the Eurozone survive a Grexit? Team / Saxo Bank
    Daily Shot: Can the Eurozone survive a Grexit?
    In the event of a Grexit, any damage can be managed by the national central banks, and the European Stability Mechanism. These institutions will be promptly recapitalised. Such actions, however, will anger citizens of some member states, whose taxpayers' funds will used to fix the damage caused by Greece.

    Given the chaos and the political backlash such an outcome will generate, it's unclear when - if at all - confidence in the currency union will be restored
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  • Article / Yesterday at 9:25 GMT

    Could Greece decide the UK election?

    Chairman, Saxo Capital Markets UK Limited / Saxo Bank
    United Kingdom
    Could Greece decide the UK election?
    UK employment is at record levels and wage growth is now outstripping inflation yet the Conservative party has failed to translate a recovery in the jobs market into a lead in the polls.
    Read the article