Archive

Posts Tagged ‘Thomson Research’

Using business databases with Microsoft Edge on Windows 10

31 July 2015 2 comments
Windows 10 desktop showing two browsers

Microsoft Edge is the new, default browser in Windows 10 (top) but Internet Explorer 11 is still available (bottom).

The newly released Windows 10 is a currently a free upgrade from Windows 7 and Windows 8.x. It claims to “transform the way you work and play” amongst other things. It also marks the launch of a new web browser Microsoft Edge, replacing the 20-year old Internet Explorer (IE). Edge is a great move forward for web developers and hopefully will be preferred by end users but, as always, change comes at a cost; the many legacy web-based platforms that were built for IE 6 or later may not work. Fortunately, IE 11 is still available for the sake of compatibility, but is using Windows 10 and multiple web browsers a smooth ride?

How compatible are our business databases with Windows 10?

Some of the specialist financial and business databases that The University of Manchester subscribes to have been tested below.

Search Windows 10

The desktop search in Windows 10 looks for applications, files, on the web and more.

Not compatible with Microsoft Edge:

ThomsonONE.com and Thomson Research

These two reputable products are widely used but they are built on old technology (old by web development standards). They were already limited to work on Internet Explorer only in Windows XP, Vista, 7, 8 and 8.1.

ThomsonONE.com shows a blank screen if loaded in Microsoft Edge.

Thomson Research will load but some of the dialog windows do not work in Microsoft Edge.

Solution: Click in the new Search box next to the Start button (bottom left of the screen), type “Internet Explorer” and open the old browser. From here, go to the Library website and find ThomsonONE.com in the usual way. (Note, if you try the option to “Open with Internet Explorer” from within Edge may not work for this website.)

Compatible with Microsoft Edge:

So far, I have found that all out other web-based specialist databases are compatible with Microsoft Edge.

Please comment below this post if you find otherwise! I will update this post as necessary.

 

A later post on Business Research Plus will explore databases that use Microsoft Office 2016 and Windows 10.

Advertisements

Current and historical company annual reports

Company websites

For current annual reports, a company’s website is often the quickest and easiest option.

Databases that The University of Manchester subscribes to:

  • PI Navigator: Include Annuals / 10K / 20-F (Company Reports and Accounts) in search criteria or select Perfect Filings tab and include Document Type UK Annual Reports or similar depending on your search.
  • Mergent Archives: Select Search Mergent Achives for annual report search
  • Thomson Research: Quick Company Search: and Content Profile, Filings
  • Thomson ONE.com: Annual reports are under Filings tab

Annual reports websites

Try EDGAR for reports filed with US SEC.

Where can I find bond credit ratings for a particular company?

Bond credit ratings are available from several of the databases we subscribe to.

ThomsonONE.com

For S&P, Moody and Fitch ratings on bond issues, use Thomson ONE.com. You can look for one company at a time.

Bonds deals in ThomsonONE.com

ThomsonONE.com: 1 Select company. 2 Choose Company Views > Deals. 3 Change filter to Product: Bonds. 4 Scroll to Deal Statistics.

Alternatively use Screening & Analsysis to look for multiple companies. Include datatypes SP, MDY, FITCH (all have descriptions Ratings…) in your report.

Bonds deals analysis - ThomsonONE.com

ThomsonONE.com: Go to Screening & Analysis > Deals & League Tables > Bonds > Advanced Search. Build your search and add

Thomson Research

Fitch ratings are available on Thomson Research. Select Fitch Ratings as contributor.

Thomson Research Fitch Reports

Thomson Research: search for Contributor: Fitch Reports.

Factiva Moody's reportsFactiva

Moody’s Investors Service reports are available on Factiva. Search for Moody as source, with company name or upgrade/downgrade in text.

Others

As with Thomson ONE.com, credit ratings are available on Datastream by searching for a company’s bonds and then selecting the relevant datatypes. A similar approach can be taken with Capital IQ.

Note: What is a Corporate Credit rating?

Thomson ONE.com

28 November 2013 4 comments

Thomson ONE.com (or T1.com) is Thomson Reuters replacement product for Thomson One Banker. It covers financial data on over 70,000 active and inactive public quoted companies globally – including key ratios, capital structure, latest deals, top holders and events. Thomson ReutersMarket awareness pages provide quick access to world indices, currencies and key exchange metrics like new highs and new lows, LIBOR, Benchmark bond yields and Treasury rates. Like Thomson One Banker, T1.com also provides access to deep content sets such as Ownership, Deals, Private Equity, plus Company Events.

For researching public (quoted) companies Thomson ONE.com is one the best international company databases available to current staff and students at the University of Manchester. Other databases like Bloomberg or Thomson Reuters Datastream are only available on specific PCs in the library.

If you have used Thomson One Banker before, T1.com gives you an improved interface, additional market awareness and news, and convenient access to analysts’ reports that we previously accessed through Thomson Research. All the Business Research Plus tips for Thomson One Banker and Thomson Research will be relevant to Thomson ONE.com.

Thomson ONE.com company overview (click to expand)

Thomson ONE.com company overview (click to expand)

Thomson ONE.com is only compatible with Internet Explorer versions 7, 8 and 9. In IE 10, set to compatibility mode IE 9. For all versions, allow IE to accept pop-ups. Unfortunately Thomson Reuters corporate clients are not pressing the company to make it available on more recent versions of IE. If you fail to allow pop-ups you will get returned to the T1.com home page and have to redo any searching you had started.

Researchers collecting data on large numbers of companies, or over a long time period, may prefer Thomson Reuters more research oriented database Datastream. Similarly, some researchers looking for deals (e.g. mergers and acquisitions) prefer SDC Platinum (also from Thomson Reuters). For a bit more detail see Researching Financial Markets … (June, 2012)

Target Prices – different sources

17 November 2013 Leave a comment

target-300x277Professional analysts provide target prices for the companies they research. This information is available at different levels of detail from different sources, and therefore there is not a single source that is always the best when looking for target price data.

“A target price (TP) forecast reflects the analyst’s estimate of the firm’s stock price level in 12 months, providing easy to interpret, direct investment advice.” (Bilinski, Lyssimachou, and Walker, 2013)

Some target price data is freely available online. If you go to uk.finance.yahoo.com for ARM Holdings PLC you will find:

  • Mean target price 1,048.28 UK pence (median, high and low is also available)
  • Number of Brokers(Analysts) 25

This is for 15 November 2013 when the ARM share price closed at 944 (UK pence). Yahoo Finance UK – ARM.L – Analyst Opinion.

Thomson ReutersThomson Research will give you more information behind the analysts’ target prices. It gives you access to the analyst reports that include the reasoning behind target prices. However, this is at the detailed level: the reports describe the target prices of an analyst, or group of analysts. There is no report that describes the consensus target price, such as the ARM mean target price of 1,048.28p (based on 25 detailed broker target prices).

For more detail see Analysts’ Reports on Thomson Research (which unfortunately only works with IE – Internet Explorer).

Thomson Reuters Datastream only gives access to consensus target prices, in contrast to the detailed target prices on Thomson Research. Datastream does give access to historical consensus target prices.

Bloomberg Professional and Thomson One Banker are sources for both consensus and detailed target price data. If you are looking for numbers, rather than the text behind the numbers, for a single company or a small portfolio these are excellent sources.

WRDS-iconThe best source for researchers who want to study target prices is IBES (I/B/E/S – Insitutional Brokers’ Estimate System) from Thomson Reuters on WRDS (Wharton Research Data Services). WRDS provides access, supporting documentation and online support to several databases used by leading accounting and finance researchers worldwide. Like other databases on WRDS, IBES has an excellent research reputation.

Recent University of Manchester research looked at target prices across 16 countries over 2002-2009 and found that analyst target price forecast accuracy is higher than a naive price forecast. The study identified various factors that affect target price accuracy – forecasts are more accurate in countries with higher accounting disclosure quality (Bilinski, Lyssimachou, and Walker, 2013).

References

Bilinski, P., Lyssimachou, D. and Walker, M. (2013) “Target Price Accuracy: International Evidence”, The Accounting Review, 88(3), pp. 825-851.

Acknowledgements

Target image is from An On-Purpose…On-Target Life for 2013 and Beyond (posted Dec 2012 on Retire Then What? blog)

Best business and management databases

27 September 2013 Leave a comment

The Cambridge Judge Business School (CJBS) Library recently published a blog post “Top 5 best databases” to highlight their most popular premium databases. It is a great list if you are interested in exploring key University of Manchester database with just a little adjustment to account for differing subscriptions.

For a fuller list of databases available at University of Manchester browse the business and management pages (LibGuides).

LibGuidesBandM

You might also be interested in our getting started guides.

[Medal image: http://www.flickr.com/photos/danjc003/1876117737/]

HP acquisition of Autonomy and a $8.8billion write off

9 January 2013 1 comment

On 20 Nov 2012 Hewlett Packard (HP) announced that it was taking a write off of $8.8 billion of the $11.1 billion that it paid to acquire Autonomy in  October 2010. At the time Automony was a member of the FTSE 100 and seen as a UK technology success story.

There has been lots in the UK financial press since then as HP’s key argument is that they overpaid for Autonomy because of accounting manipulation. This is strongly denied by Automony founder Mike Lynch.

News stories:

Breaking down a 8.8$ million write off – from Musings on Markets blog (click to expand)

Aswath Damodaran’s Musings on Markets blog makes a strong case that even if HP is right this only accounts for $2.45 billion of the $8.8 billion write off – see HP’s Deal from Hell: The mark-it-up and write-it-down two-step.

The write off raises issues about the acquisition in terms of corporate strategy, leadership, corporate governance as well as the accuracy of Autonomy’s accounts.

Resources for more information:

Thomson One Banker – a deals module search will provide details of the deal: announced 18 Aug 2011, effective 3 Oct 2011, “UK – Hewlett-Packard Vision BV of the Netherlands, a unit of by Hewlett-Packard Co (HP),  completed the tender offer to acquire the entire share capital of Autonomy Corp PLC (Autonomy), a
Cambridge-based developer of infrastructure and information management software, for GBP 25.5 (USD 42.09)” [SDC deal number 2337968040]

[Update June 2014 – Thomson ONE.com is (or T1.com) is Thomson Reuters replacement product for Thomson One Banker.]

Thomson Research – analysts reports – For example, on 23 Aug 2011 Marc Geall of Deutsche Bank published a report on Autonomy Corp plc. This reported a change of recommendation to sell, since the shares were GDP 24.86 almost fully valuing the HP offer, and substantially higher that Deutsche Bank’s fundamental target price of GBP 17.50.

Business Source Premier (EBSCO): – several trade journals with articles on the HP aquisition of Autonomy. For example,

Forbes.com (2012) ‘With Autonomy, H-P Bought An Old-Fashioned Accounting Scandal. Here’s How It Worked’ Forbes.Com, (November 20, 2012):p. 39, Business Source Premier, EBSCOhost, viewed 11 January 2013.

See also those posts with the mergers_and_aquistions tag.