PPG Archives - GrowthRater

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PPG – rising costs exposes weak pricing power. An increasingly common story

Tax reductions, tariff walls and a trillion dollar plus increase in Federal debt to fund the party and one might have thought that bond markets would be fretting about inflation. Perhaps surprisingly and despite the absence of Fed price distortions as a buyer of its own junk, the inflation rate implied from the TIPS-fixed Treasury […]

Wazzup – 23rd May 2017

Chemicals day at Wazzup. – Yesterday’s $14bn merger announcement between Huntsman and Clariant show that it can be done, notwithstanding Akzo Nobel still playing ‘hard to get’ in face of PPG’s multiple advances. With the sector also at the cusp of pushing through price rises to recoup earlier increases in raw material and […]

Wazzup? – 25th April 2017

PPG (ppg) – Third time lucky for Akzo? PPG returns with further concessions and an increased offer worth €96.75 per Akzo ord Nielsen (nlsn) – Q1 FY17 results: US retail measurement continues to drag down the averages. Whitbread (wtb_l) – FY17 results: A cautious outlook statement blights a solid historic trading performance PPG […]

Shrink EPS while showing rapid YoY growth

As with every reporting season one can play the game of â€œspot dodgyâ€. Unfortunately, the deluge of quarterly results with their more limited disclosure can make it tough to identify some of the more sophisticated scams. As always these can include the myriad of acquisition accounting tricks (fair value adjustments, acquisition timings, accounting policy adjustments, […]