Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

<ul><li>Samsung Electronics reported second-quarter 2015 revenue down 8% year on year, along with operating profit down 4% year on year, in line with the guidance it gave on July 7.</li><li>Currency weakness in key markets Russia (down around 30% versus KRW), Brazil (down around 25%) and Europe (down around 15%) has negatively affected the consumer electronics business, particularly in televisions; however, the semiconductor business is very strong.</li><li>We are increasing our earnings forecasts by 7%-8% because of better-than-expected cost performance, and we have raised our fair value estimate from KRW 1.3 million to KRW 1.4 million.</li></ul><p>Analyst: Dan Baker</p><p>Full report below the fold..</p>

Samsung Electronics reported second-quarter 2015 revenue down 8% year on year, along with operating profit down 4% year on year, in line with the guidance it gave on July 7.Currency weakness in key markets Russia (down around 30% versus KRW), Brazil (down around 25%) and Europe (down around 15%) has negatively affected the consumer electronics business, particularly in televisions; however, the semiconductor business is very strong.We are increasing our earnings forecasts by 7%-8% because of better-than-expected cost performance, and we have raised our fair value estimate from KRW 1.3 million to KRW 1.4 million.Analyst: Dan BakerFull report below the fold..

Samsung Electronics Second Quarter: Weak Smartphones but Strong Semis; FVE to KRW 1.4 million