Coffee, Croissants & Credit/Inmobiliaria Colonial, Benelux TMT Credits

Real Estate: Inmobiliaria Colonial was back in the market with a green bond; TMT: Benelux TMT Credits - How's it going? Where's the value?

Benelux TMT Credits: How's it going? Where's the value?

These are exciting times in the Benelux TMT markets. In this new Benelux Credit TMT report we discuss the most attractive corporate bonds in the Benelux and wider TMT space and provide insights into the key developments driving the Dutch broadband market. We also discuss recent developments of the names under our coverage: ASML, SES, KPN, Proximus, VodafoneZiggo, Telenet, Wolters Kluwer and RELX. The latter section comes from previously published Flash Notes and have been updated where needed.

Benelux Morning Notes

Belgian telcos: Football rights negotiations between DAZN and Proximus resume. Eurocommercial Properties: CMD Feedback. EVS: Adds another small acquisition to its new ‘media robotics' segment. Kinepolis: Paramount Skydance reportedly to bid for Warner Bros. Discovery. Wolters Kluwer: Two CEOs, one strong AI story

Salesforce Inc: 2 directors

A director at Salesforce Inc sold after exercising options 2,250 shares at 246.656USD and the significance rating of the trade was 41/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over th...

Bible 2Q25 – Enterprise IT: Broad-based cloud strength, SaaS stable, ...

Today, we are publishing the Enterprise IT section of our 28th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. Legacy IT spending is moderating after a strong 2H24, while public-cloud growth accelerated slightly on broad-based strength across AI and traditional workloads. SaaS revenue growth remains in the lo...

Wedbush Morning Call - Sep 04 2025 6:56AM

Solid Results Overshadowed by Light Guide; Need to Improve Execution; ...

A Closer Look at FY2Q26 (July) ResultsRevenueTotal revenue of $10.24 billion (up 10% y/y and 9% y/y in CC) was above both the company’s guidance range for revenue between $10.11 billion and $10.16 billion and the Street’s $10.14 billion estimate driven primarily by onetime licensing revenue and pro

Wolters Kluwers: 1 director

A director at Wolters Kluwers bought 2,700 shares at 111.300EUR and the significance rating of the trade was 58/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...

Wolters Kluwer/New incoming leadership, strong credit profile

Looking at Wolters Kluwer's[de] equity price, the company seems somewhat out of favour with investors. Nevertheless, we like Wolters Kluwer's strong cash generation and credit profile and deem recent M&A transactions favourable. The spread on the notes of Wolters Kluwer looks attractive, in our view.

Vermilion Short Shots: Technically Vulnerable Stocks

Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

Benelux Morning Notes

CTP: Good results, continuation of strong demand dynamics. KBC: 2025 outlook, strong uplift post 2Q. RELX, Wolters Kluwer: Thomson Reuters 2Q25 results. SBM Offshore: Guidance up, one-offs play a role. Xior Student Housing: On track, continued focus on pricing and pipeline

Wolters Kluwer/Solid start to the year/BUY

Wolters Kluwer reported a solid 1H25 update. We make small adjustments to our organic growth and margin forecasts, but it is mainly FX headwinds that bring down our top-line estimates by low-single-digit percentages in the coming years. We reiterate our BUY rating and lower our target price per share to €173 (from €178).