adidas: the sprint continued in Q3
Yesterday evening, ADS pre-released Q3 numbers showing a strong beat at the profit levels, confirming robust brand momentum (buoyant sell-through) and more moderate impacts from FX headwinds. Note that ADS' upgraded FY24 EBIT guidance of EUR1.2bn is c.2% above CSSe. We increase our PT to EUR265 vs.ACM Managed Dollar Income Fund is a non-diversified, closed-end management investment company. This closed-end investment fund is designed for investors who seek high current income and capital appreciation. In order to achieve this objective, Co. invests primarily in high-yielding, U.S. and non-U.S. fixed income securities, denominated in U.S. dollars, that it expects to benefit from improving economic and credit fundamentals. Co. may utilize leverage through the investment techniques of reverse repurchase agreements and dollar rolls. As of Sept 30 2007, Co. had total assets of $192,614,325 and investment portfolio totalled $178,906,534.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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