Noticias GMK Fund

8/13/2019 Noticias GMK Fund

1/5

Mastercard (NYSE:MA)

1.

http://seekingalpha.com/article/1989821-why-mastercard-is-still-the-master-of-its-industry?source=yahoo

When MasterCard reported a 4th quarter miss this past week the company's shares slid5.2% to $75.68 per share. The firm reported that net income had risen 3% to $623 million,which translated to $0.52 per share. This report missed the $0.60 per share consensusestimate that analysts had hoped MasterCard would deliver. Compared to its peersMasterCard was the only one of the four major card companies to report a significantquarterly miss.

1. Both MasterCard and Visa last month won approval to settle the ongoing litigation thatthe companies had been fixing card swipe fees for $5.7 billion. Removing this unknown

from the equation is a big win and will allow the company to get back to focusing ongrowth.

2. MasterCard grew its net revenue by 12% this past quarter to $2.1 billion. MasterCardgenerates majority of its profits outside of the U.S., and this past quarter processedtransactions having increased by 13% to $10.4 billion this quarter a big chunk of that wasdriven by the increases seen in cross-border spending volume, which increased 18%.

3. Full year EPS for MasterCard came in at $2.62 per share, this represented an 18.6%increase over the $2.21 that was generated in 2012. The firm also increased its operatingmargin to 55.1% up from the 53.5% the year prior.

4. MasterCard continues to return value to its shareholders through an increased dividendand share buyback plan. Back in December the firm announced that it would be increasingthe quarterly dividend by 83% to $1.10 a share (pre-split price), while also increasing itsshare buy-back program by another $3.5 billion.

5. Fundamentally MasterCard is a rock solid company. The firm has no debt, generatesfree cash flow of almost $4 billion, currently has $6.3 billion in cash on the balance sheet,and sports a growth rate in the double digits.

2.

http://www.schaeffersresearch.com/commentary/content/blogs/analyst+downgrades+citigroup+inc+jpmorgan+chase+co+and+mastercard+inc/trading_floor_blog.aspx?single=true&blogid=119622

Barclays and Citigroup cut their price targets to $90 from $93, and to $91 from $96.50,respectively, while FBR downgraded the stock to "market perform" from "outperform."


2/5

3.

http://www.fool.com/investing/general/2014/02/03/why-mastercard-inc-might-keep-pulling-back.aspx

FBR lowered its 2014 earnings-per-share estimate for MasterCard from $3.13 to $3.03,and its 2015 view from $3.76 to $3.65. "The downgrade reflects our concern regardingMasterCard's exposure to potentially slowing emerging market economies, along withincreased currency volatility, having a negative impact on MasterCard's results andinvestor sentiment.

Boeing Co. (NYSE:BA)

1.

http://finance.yahoo.com/news/boeing-shares-continue-2014-slide-130329577.html

Boeing's defense business is being hobbled as governments in the U.S. and Europe try tocontain military spending. In the commercial jet segment, deliveries in 2014 are off to aslow start, partly because some were rushed into late 2013 but also because accountingfor development costs of its new 787 Boeing calls it the Dreamliner has cut intoprofit margins.

2.

http://finance.yahoo.com/news/boeing-flydubai-sign-agreement-mobile-070000589.html

Boeing [NYSE:BA] today announced at the MRO Middle East conference that flydubai hassigned an agreement to implement Boeing's suite of mobile maintenance applications. Theairline will deploy Maintenance Turn Time, Toolbox Mobile Library and Toolbox MobileParts solutions that provide real-time access to the information technicians need toquickly resolve maintenance issues.

3.

http://finance.yahoo.com/news/polands-lot-aborts-dreamliner-flight-065631239.html

A computer malfunction on a Boeing 787 Dreamliner forced LOT to call off a transatlanticflight from Warsaw late on Monday and switch the passengers onto another jet instead,the Polish airline said.
http://finance.yahoo.com/news/polands-lot-aborts-dreamliner-flight-065631239.htmlhttp://finance.yahoo.com/news/polands-lot-aborts-dreamliner-flight-065631239.htmlhttp://finance.yahoo.com/news/polands-lot-aborts-dreamliner-flight-065631239.html


3/5

Home Depot (NYSE:HD)

1.

http://www.fool.com/investing/general/2014/02/03/home-depot-fourth-quarter-expectations-seem-well-w.aspx

These expectations call for earnings to increase 9% and revenue to decline 1.3% year over year.This seems very conservative, especially after Home Depot said the housing market was a "brightspot" in the economy and as a result raised its full-year forecast in the third quarter. For thisreason, I am fully confident that Home Depot will meet if not exceed the current earnings andrevenue estimates. Other than the key metrics, I would like to see three things out of HomeDepot:

First, and most important, Home Depot needs to report fiscal 2014 guidance that is within orabove analyst expectations; the current estimates call for earnings per share in the range of $4.27

to $4.66 on revenue of $82.1 billion to $84.5 billion.

Second, I would like to see Home Depot's gross margin expand once again and exceed the 35%mark. In the fourth quarter of fiscal 2012, its margin was 34.89%, so 35% is well within reach.

Finally, I would like the company to have opened at least two new locations in the quarter. Therehave only been six net new locations added since the end of fiscal 2012, so I would like to see thatnumber increase to eight.

2.

http://wallstcheatsheet.com/stocks/home-sales-hit-by-perfect-storm-of-surging-prices-and-frigid-weather.html/?ref=YF

The Pending Home Sales Index, a forward-looking indicator based on contract signings,plunged 8.7 percent to 92.4 in December from a downwardly revised 101.2 in November,according to the latest report from National Association of Realtors. On average,economists expected sales to edge higher by about 0.3 percent. It was the lowest readingfor the index since October 2011 and 8.8 percent below from a year earlier.

Disney (NYSE:DIS)

1.

http://www.theflyonthewall.com/permalinks/entry.php/DISid1957261/DIS-Earnings-Preview-Analyst-predicts-Disney-will-report-stronger-than-expected-Q

The Wall Street Journal recently reported that Disney's interactive-media unit will cut"several hundred" people from its workforce, with cuts likely starting after the company's


4/5

quarterly report. Earlier in the quarter, Disney's Pixar Animation Studios laid off less than5% of its 1,200-person workforce following the delay of its upcoming film,

2.

http://www.ibtimes.com/walt-disney-company-dis-earnings-preview-infinity-frozen-drive-16-quarterly-profit-increase-1553045

Media Networks, Disneys largest unit, is expected to report revenue of $5.39 billion, anincrease of 6 percent over the same period in the previous fiscal year, according to LauraMartin, an analyst with Needham. The increase comes despite a mixed ratings bag forDisneys stable of broadcast and cable networks. Viewership grew for Disneys sportsnetworks, ESPN and ESPN 2, which saw ratings increases of 4 percent and 8 percent,respectively. At the same time, the broadcast ABC network saw its ratings dip 4 percent,while Disney Family plummeted 12 percent. Compared with the same period last year,ratings were down 2 percent in the December quarter across Disneys ad -driven channel

group.

3.

http://marketrealist.com/2014/01/walt-disney-company/

Travelers (NYSE:TRV)

1.

http://www.fool.com/investing/general/2014/01/21/heres-why-travelers-companies-inc-sank-after-its-e.aspx

Having a majority of its products providing a return greater than 10% allows Travelers torealize a secondary goal: returning excess capital to shareholders

2.

http://www.nasdaq.com/article/the-travelers-companies-inc-trv-new-analyst-report-from-zacks-equity-research-zacks-equity-research-report-cm320069

Travelers also witnessed higher net investment income and higher net favorable prior-yearreserve development. Lower share count also boosted the bottom line.
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5/5

Ford (NYSE:F)

1. ttp://www.fool.com/investing/general/2014/01/28/why-earnings-caused-ford-motor-company-stock-to-ju.aspx

Ford made big money in 2013, thanks in part to strong pickup sales. But the costs oflaunching the all-new 2015 F-150, revealed earlier this month, will weigh on profits in2014, the company said.

South America has been a tough region for lots of automakers in recent times, asunfavorable exchange-rate moves and high local inflation have hurt profits.

Europe has been a big money-loser for Ford in recent times, but the company has a

turnaround plan under way that made promising progress in 2013.

Asia Pacific Africa is Ford's catch-all region, covering the remainder of the world. The bigstories here are China, India, and Southeast Asia, where Ford is investing in major

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