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Apr 24, 2014 8:49 AM       Daily Market News   EN | DE

Apple: Boosts shareholder capital after strong quarter

Apple (Attractive*) clearly exceeded market estimates on Q2 revenues and earnings per share (USD 11.62 and USD 1.45, respectively). The first major consensus beat in some time on better than anticipated iPhone sales with higher average prices. Apple also intends to return more capital to shareholders and announced a share split. We confirm our rating on this solid quarterly report.

From: LGT Navigator Abo

Apr 23, 2014 4:00 PM       Global market outlook and strategy  EN | DE

Economic conditions, outlook and positioning

Nothing but temporary discord disrupts the markets' cheerful symphony. The upturn in the industrialized countries is gathering strength. The rest of the world may well follow suit. The markets? cheerful symphony with their easy principle ?don?t worry, be happy? has not continued as harmonious in 2014 as it ended the past year.

From: LGT Investorama Abo

Apr 23, 2014 8:10 AM       Weekly Market Comment  EN | DE

Abenomics remains on track

Japan has been posting surprisingly big trade deficits in most of the past 21 months: exports remain anemic, while imports repeatedly experience sturdy surges. At first glance, Tokyo?s reflation efforts seem to be failing. A different picture emerges if we filter out price and exchange rate effects, to focus on the volume of goods traded instead: imports have stabilized at a high level, while exports are slowly but steadily recovering. Thus, «Abenomics» is working.

From: LGT Beacon Abo

Apr 23, 2014 6:43 AM       Daily Market News   EN | DE

Gilead: Rating change following stellar Q1 result

Driven by the stellar start of its hepatitis C drug Solvadi, Gilead Sciences (upgrade from Attractive to Buy*) massively exceeded market expectations with its Q1 earnings (EPS USD 1.48 versus consensus USD 0.91). Gilead is one of the pillars of the healthcare franchise in our US model portfolio. On the back of this strong result and the favorable valuation (significant discounts based on P/E and EV/EBITDA), we increased our rating to Buy*.

From: LGT Navigator Abo

Apr 17, 2014 8:28 AM       Daily Market News   EN | DE

Google: Q1 result missed market expectations

Google (Attractive*) disappointed because of lower online-advertising prices (-9%) despite rising sales of 19% to USD 15.42bn. Main reason are smartphones with its small displays and often slow connections. However, clicks increased 26%. Quarterly income of USD 3.45bn (+3%) was slightly below analysts? estimates. Google shares dropped as much as 6%.

From: LGT Navigator Abo