Market Vectors® Mstar Wide Moat ETF
CSX Intermodal Volumes Increase on Domestic Shipments
CSX’s (CSX) Intermodal division provides an alternative to transporting freight on highways using trucks. It reported revenues of $446 million in 4Q15 compared to $465 million in 4Q14.
CSX’s Intermodal Has Lower Slump than Total US Intermodal Decline
In the week ended April 9, 2016, CSX Corporation’s (CSX) total intermodal traffic declined by less than 2%.
Inside Norfolk Southern’s Freight in Week 28
CSX’s (CSX) overall railcar traffic rose 3.1% in the 28th week of 2017 (ended July 15).
Why LSE Stock Has Outperformed over the Years
The London Stock Exchange’s high market share in growth areas such as client clearing, along with its good asset quality, suggest that the stock exchange is on solid ground.
CSX: Intermodal Pushed Volumes despite Fall in Railcars in Week 33
In the week ended August 19, 2017, CSX hauled nearly 69,000 railcars compared with ~70,500 units in the week ended August 20, 2016.
Polaris President Bennett Morgan Retired
Polaris Industries (PII) has a market cap of $5.6 billion. It rose by 1.1% to close at $84.38 per share on May 16, 2016.
The Ins and Outs of Moat Investing
Stock selection, a cornerstone of the moat investment philosophy, has driven much of the recent success of the Morningstar® Wide Moat Focus Index.
Expanding Investors’ Reach to Global Markets
Building on the success and popularity of VanEck Vectors® Morningstar Wide Moat ETF (MOAT®) and its underlying index’s approach to investing in the U.S., VanEck launched MOTI in 2015 to expand investor access to Morningstar’s core equity research in the international arena.
How Is CSX’s Intermodal Traffic Looking as of July 23?
CSX’s total intermodal traffic fell by 6.03%, from ~56,000 units in the week ended July 25, 2015, to ~53,000 units in the week ended July 23, 2016.
How Moat Indexes Performed in September
The US Moat Index has been performing fairly well this year. As of September 30, 2017, it has outperformed, rising 20.5% over the S&P 500 Index’s (SPY) (SPX-INDEX) rise of 18.6% YTD.
September Winners in US Domestic Moats: Discretionary, Financials
Moat company Polaris Industries (PII) has been doing well this year, returning ~30.0% year-to-date as of October 23, 2017.
The Idea behind Economic Moats
“How Moats Translate into Sustainable Competitive Advantages” is a five-part moat investing education series that explores the primary sources of economic moats. she
What’s the Latest News from Polaris Industries?
Polaris Industries (PII) has a market cap of $5.6 billion. It fell 2.2% to close at $85.84 per share on December 9, 2016.
U.S. Moat Index: Analyzing Its Performance in April
TransDigm Group (TDG) rose 12% in April. Two other additions, Cerner and Guidewire Software, added to the U.S. Moat Index’s performance in April.
How CSX’s Intermodal Volumes Compared in Week 13 of 2017
In the week ended April 1, 2017, CSX’s total intermodal traffic increased to 9.5%.
Why the US Moat Index Beat the S&P 500 Index in July
Domestic moat companies, as represented by the Morningstar® Wide Moat Focus IndexSM (MWMFTR, or “U.S. Moat Index”), once again posted strong results in July.
CSX’s Increased Operating Efficiency Leads to Improved Margins
CSX’s operating expense declined by 13%, or $301 million, from 4Q14. The decline was mainly due to lower labor, fuel, materials, and other expenses.
Why Did Norfolk Southern’s Operating Profitability Fall in 4Q15?
Norfolk Southern Corporation (NSC) reported quarterly operating expenses of $1.8 billion in 2015, down by 5% from 4Q14, whereas the revenues for the same period fell by 12%.
Why IBM sold its semiconductor division to Globalfoundries
In its 3Q14 results, IBM (IBM) announced the sale of its semiconductor operations to Globalfoundries. IBM will pay Globalfoundries $1.5 billion over next three years.
Why IBM announced a partnership with Apple
In July 2014, IBM Corp. (IBM) announced its partnership with Apple Inc. (AAPL). IBM wants to make a space for itself in the enterprise mobility space.
Why IBM announced its high-end “brain like” chips
After divesting its manufacturing business, IBM (IBM) appears to be in a better position to focus on high-end servers, super computers, and technology research.
Why IBM and Apple target “big data” and the mobile space
Apple (AAPL) and IBM (IBM) announced a global partnership that’s designed to push increased adoption for mobiles in the enterprise space.
How Walmart Is Looking to Offset Future Operating Cost Headwinds
Wage costs are expected to be a headwind for Walmart. On February 20, Walmart made the second round of wage increases for over 1.2 million staff.
How Starbucks Obtained a Wide Economic Moat Rating
Cost Advantage in Action: Four Case Studies of Moat Companies To demonstrate the power of cost advantages in creating economic moats, we highlight four moat companies: U.S. based Starbucks and Compass Mineral, and international moat companies: Kao (Japan) and Ramsay Health Care (Australia). Starbucks Corp (SBUX US) boasts a “wide economic moat” rating from Morningstar from […]
Moat Index: Dramatic Sector Allocation Shift in 2018
The healthcare sector dominated the sector weighting for the Morningstar Wide Moat Index in 2018. The sector returned ~5% in 2018.
Eli Lilly’s Earnings Quality and Dividend Performance
Eli Lilly’s dividend yield is 2.11%. Its dividend yield last year was 2.46%, and its five-year average is 2.77%.
Interested in a Moat for Your Castle?
Morningstar provides investors a choice to include moat stocks in their portfolios with the Morningstar Wide Moat Focus Index or the U.S. Moat Index (MOAT).
Why Consider Moat Stocks?
At VanEck we are big fans of Morningstar’s Equity Research—not only because their analysis informs moat-oriented indices that underlie the moat mutual fund and ETFs that we offer globally.
Merck’s 4Q17 Estimates: Vaccines
Merck’s revenues from vaccines are expected to decrease in 4Q17 due to lower sales of Gardasil, offset by increased sales of Zostavax, Pneumovax 23, RotaTeq, and ProQuad/Varivax.
Merck & Co.’s Quarterly Revenue Trend
Merck & Co. (MRK) reported revenues of $10.3 billion in 3Q17, a decrease of 2% compared to 3Q16.
Opdivo: Blockbuster Oncology Drug in 3Q17
Opdivo Bristol Myers Squibb’s (BMY) Opdivo is approved for the treatment of non-small cell lung cancer, classical Hodgkin’s lymphoma, renal cell carcinoma, metastatic melanoma, squamous cell carcinoma of the head and neck, urothelial carcinoma, hepatocellular carcinoma, and certain types of colorectal cancer. Recent Opdivo developments The above chart shows Opdivo’s revenue trends over the last […]
Understanding Eli Lilly’s Valuation This November
In 3Q17, Eli Lilly surpassed the analysts’ estimates for EPS (earnings per share) and revenues, reporting EPS of $1.05 on revenues of ~$5.7 billion.
Understanding the Moat Investing Philosophy
The performance of VanEck Vectors® Morningstar International Moat ETF (MOTI®) tells an impressive story about the importance of not only identifying quality companies with sustainable competitive advantages but also factoring in valuation to determine the right entry points.
Healthcare Was September Loser for US Domestic Moats
The healthcare sector has been the most challenged sector since the presidential elections in November 2016.
VFC: Wrangler Sales Improve, Lee Sales Slide
VFC’s Jeanswear segment, which includes the Lee and Wrangler brands, recorded a 0.5% year-over-year decline in 3Q17 sales.
September Global Moat Winners: Asia Holds the Trophy
SINA (SINA), a China-based online media company, benefited the International Moat Index the most in September.
3Q17 Overview: VF Corporation Beats on Earnings, Revenues
VF Corporation (VFC) reported its 3Q17 results on October 23. VFC’s adjusted earnings per share rose 6% year-over-year to $1.23 versus consensus expectations of $1.12.
Quarterly Performance of Eli Lilly’s Neuroscience Products
Strattera, a drug for attention-deficit/hyperactivity disorder, reported a 17.0% fall in revenues to $186.6 million in 2Q17 compared to $224.6 million in 2Q16.
Why Most of Wall Street Recommends Holding VF Corporation
VF Corporation (VFC) is covered by 23 Wall Street analysts with a mostly neutral view on the company. It has received a rating of 2.6 on a scale of 1 (strong buy) to 5 (sell).
How TransDigm Group Reinforces Switching Costs
TransDigm Group Inc. (TDG US) is a leading designer and manufacturer of engineered aircraft components for commercial and military aircraft.
How Microsoft Earned a Wide Economic Moat Rating
The technology industry is the most competitive industry, making it crucial for companies in this industry to have a competitive edge for survival.
Why Switching Costs Help Build Powerful Moats
Many successful companies build customer loyalty by offering high-quality products and/or services. Some also have the unique advantage of integrating their products….
CSX’s Intermodal Volumes Rose as Railcar Volumes Fell in Week 32
CSX moved ~67,000 railcars during the week compared with slightly over 69,000 railcars in the week ended August 13, 2016.
How Did Allergan’s US General Medicines Segment Perform in 2Q17?
The US General Medicines segment reported revenues of $1.43 billion in 2Q17, a 1.5% decline as compared to $1.45 billion in 2Q16.
How Ramsay Health Care Became a Cost Leader
Ramsay Health Care is a market leader in private healthcare in Australia, treating almost 3 million patients each year.
CSX’s Railcars Fell but Intermodal Rose in Week 30
In the week ended July 29, 2017, CSX (CSX) witnessed a contraction in railcar traffic.
Canadian National Railway: Alberta Ups Petroleum Revenues
In 2Q17, Canadian National Railway’s petroleum and chemicals revenues were $549.0 million Canadian, a fall of 12.0% from $492.0 million Canadian in 2Q16.
Analysts Keep Recommendations after VF Corporation’s 2Q17 Results
VF Corporation’s (VFC) 2Q17 results were followed by a host of upward revisions in the company’s target price by Wall Street analysts.
Weakness in Wholesale Continues to Pressure VF’s Lee and Wrangler
VF’s Jeanswear segment, which includes the famous Lee and Wrangler brands, recorded a 4.5% YoY (year-over-year) fall in 2Q17 sales.
VF Corporation Beats Top-Line Expectations after 7 Weak Quarters
In 2Q17, VF Corporation (VFC) reported sales of $2.4 billion. Sales from continuing operations rose 2.0% on a reported basis.
Why CSX’s Intermodal Volumes Rose in Week 27
CSX’s (CSX) intermodal traffic registered a 3.7% YoY (year-over-year) gain in the week ended July 8, 2017.
How to Take Exposure to Moat Stocks
The VanEck Vectors Morningstar Wide Moat ETF (MOAT) tracks the price and yield performance of the Morningstar Wide Moat Focus Index.
How to Identify Economic Moats
In this series, we’ll discuss how intangible assets can create long-term competitive advantages for companies.
VFC’s Earnings Likely to Drop 20% in 2Q17
VFC’s (VFC) earnings per share (or EPS) could contract a whopping 20% YoY in 2Q17.
What Will Drive VFC’s Top Line in Fiscal 2017?
VF Corporation (VFC) posted strong results in its Outdoor segment during the first quarter of 2017.
What Happened to CSX’s Trailers and Containers in Week 26
For the week ended July 1, 2017, CSX (CSX) registered a ~6% rise in overall intermodal traffic.
CSX’s Containers Rose, Trailers Fell in Week 25
CSX Corporation (CSX) reported a 4.8% rise in intermodal volumes in the week ended June 24, 2017.
Comparing CSX’s Week 24 Intermodal Growth with the Industry’s
CSX Corporation’s (CSX) intermodal volumes trended in contrast with other freight volumes in week 24. In the week, the company’s intermodal volumes rose 2.1%.
Comparing CSX’s Intermodal Volumes with NSC in Week 23
In the week ended June 10, 2017, CSX’s (CSX) intermodal volumes rose 3.9%.
How Visa Created a Network Effect
Visa (V) boasts a significant advantage in terms of its worldwide acceptance. This availability lent to the network effect’s being the source of the company’s moat.
How Microsoft Earned Its Moat
Microsoft operates globally with successful products such as Windows, Office, and Azure. A strong brand, network effect, and economies of scale are Microsoft’s sources of moat.
How Salesforce Gained Its Moat
Salesforce.com is a leader in the customer relationship management industry. The company has built its moat on the back of its network effect and strong brand.
Performance of Eli Lilly’s Cardiovascular Products in 1Q17
Effient reported a 3% decline in its 1Q17 revenues to $127.8 million, compared to $131.5 million in 1Q16.
Primary Detractor in the U.S. Moat Index’s Performance in April
For April, the top three detractors in MOAT were healthcare companies like AmerisourceBergen (ABC), Express Scripts (ESRX), and McKesson (MCK).
How Does Moat Investing Provide a Competitive Advantage?
Morningstar helps investors choose companies with economic moats. “Economic moats” refers to companies’ ability to obtain an advantage over competitors.
Inside CSX’s Intermodal Traffic in Week 19
In recent weeks, CSX Corporation’s (CSX) intermodal traffic has been almost flat. In the week ended May 13, 2017, its intermodal volumes rose 2.8%.
CSX: Comparing Its Intermodal Traffic with the Industry in Week 18
In recent weeks, CSX’s (CSX) intermodal traffic has been almost flat. In the week ended May 6, 2017, its intermodal volumes fell 2%.
CSX: Despite a Trailer Slump, Intermodal Volumes Rose in Week 17
CSX’s intermodal volumes In recent weeks, CSX’s (CSX) intermodal traffic has been almost flat. In the week ended April 29, 2017, its intermodal volumes rose 3%. Overall intermodal volumes reached 54,000, compared with 53,000 units in the week ended April 30, 2016. Trailer volumes stood at 1,900 units, 5.4% lower than last year. In the […]
Wall Street Maintains Recommendations after VFC’s 1Q17 Results
VF Corporation (VFC) is covered by 22 Wall Street analysts, who have given it a rating of 2.7 on a scale of 1 for “strong buy” and 5 for “sell.”
Stock Market Penalizes VF Corporation Stock for Weak 1Q17 Results
VF Corporation (VFC) stock fell after the company posted mixed 1Q17 results. It fell a huge 5.6% to close at $54.63 after the results on April 28, 2017.
VF Corporation’s Lee and Wrangler Struggle from Weak Wholesale
VFC’s Jeanswear segment, which includes the famous Lee and Wrangler brands, recorded a 9.0% YoY (year-over-year) fall in 1Q17 sales.
VF Corporation Misses Top-Line Expectations Again in 1Q17
VF Corporation’s (VFC) total revenue from continuing operations fell 2.0% YoY (year-over-year) to $2.6 billion in 1Q17.
Did CSX’s Intermodal Volumes Align with the Industry’s Last Week?
In recent weeks, CSX Corporation’s (CSX) intermodal traffic was almost flat. In the week ended April 22, 2017, its intermodal volumes fell 2.3%.
Currency Headwinds to Affect VF Corporation’s 2017 Bottom Line
VF Corporation’s (VFC) EPS (earnings per share) is expected to fall 9.8% YoY (year-over-year) to $0.55 in 1Q17.
CSX’s Intermodal Traffic Compared to the Industry in Week 15
In recent weeks, CSX’s (CSX) intermodal traffic was almost flat. In the week ended April 15, 2017, its intermodal volumes fell 0.20%.
A Look at VF Corporation’s Key Revenue Drivers in Fiscal 2017
VFC management has predicted a low single-digit rise in its fiscal 2017 top line.
Comparing CSX’s Intermodal Volumes in Week 14 of 2017
In recent weeks, CSX’s (CSX) intermodal traffic was almost flat. In the week ended April 8, 2017, its intermodal volumes rose to 0.50%.
CSX’s Intermodal Volumes in Week 12
In recent weeks, CSX’s (CSX) intermodal traffic has been on an upward path. In the week ended March 25, 2017, its total intermodal traffic rose 7.3%.
Did CSX’s Intermodal Volumes Fall in Line in Week 11?
In recent weeks, CSX’s (CSX) intermodal traffic was on an upward path. However, in the week ended March 18, 2017, CSX’s total intermodal traffic fell 2.6%.
Could International Laggards Come Out as Winners?
VanEck International Moats: Catch Me if You Can (Contd..) Otherwise strong performance from Indian constituents was muted by the struggles of automaker Tata Motors Ltd (TTMT IN, -11.41%), which were reflected in fiscal 2017 second-quarter earnings. Two Australian firms from different industries also struggled in February: mineral sands miner Iluka Resources Ltd. (ILU AU, -8.93%) […]
Why International Moats Are Getting Investors’ Attention
VanEck International Moats: Catch Me if You Can Mexican airport operator, Grupo Aeroportuario del Centro Norte (OMAB MM, +12.70%), and its efficient scale source of moat, had a strong month as central Mexico air traffic increased year-over-year despite political turmoil and a weakened peso. In Australia, casino operator Crown Resorts Ltd. (CWN AU, +12.47%) offered […]
Could It Be Time to Buy US Domestic Moats?
VanEck U.S. Domestic Moats: Buy Buy Baby (Contd..) It’s been a wild ride for pharmaceutical and biotech companies since last year’s U.S. presidential election, but Morningstar’s economic moat and valuation research within both industries benefited the U.S. Moat Index as several of the top drivers of performance came from within those industries. Materials firm Compass […]
How Mergers & Acquisitions Could Boost Moat Indexes
VanEck U.S. Domestic Moats: Buy Buy Baby Infant formula company Mead Johnson Nutrition Co. (MJN US, +24.60%) benefited from corporate action news shortly after being added to the U.S. Moat Index in December. News of an intended acquisition of MJN US by narrow moat UK conglomerate Reckitt Benckiser Group (RB GB) boosted shares of the […]
Why Moat Indexes Outperformed Others in February
US stocks have performed well since Donald Trump’s inauguration. Recent economic indicators suggest that the economy is gradually gaining traction.
November Winners: Wide Moat Rated Banks and Railroad Stocks
The dawn of a Trump era in the United States has drastically changed the fortunes of domestic stock markets—unlike adverse predictions from many experts prior to the election.
Why Moat Indices Outperformed Benchmarks in November
Following the results of the US presidential election, the US stock market has followed an upward growth trajectory.
Polaris Industries Acquired Transamerican Auto Parts for $665 Million
Polaris Industries (PII) reported 3Q16 sales of ~$1.2 billion, which represents a fall of 18.5% from its ~$1.5 billion in sales in 3Q15.
Morningstar: Using Economic Moat to Assess Stocks
The concept of economic moat is the basis of Morningstar’s assessment of a company’s (KO)(ORCL) long-term investment potential.
Analyzing Morningstar’s Economic Moat Rating
Morningstar first began rating companies in 2002 according to the strength and longevity of their competitive advantages.
Moat Investing: Staying Ahead of the Competition
Moat companies offer long-term outperformance compared to benchmarks.
How Does Longbow View Polaris Industries?
Polaris Industries (PII) has a market cap of $4.6 billion. It fell 4.4% to close at $74.07 per share on October 4, 2016. Longbow rated Polaris Industries as “underperform” and set the stock’s price target at $77.50 per share.
Polaris Defense Appoints John M. Olson as Vice President
Polaris Industries (PII) has a market cap of $5.5 billion. It fell by 0.50% to close at $83.52 per share on September 6, 2016.
Northcoast Research Downgrades Polaris Industries to ‘Neutral’
Polaris Industries (PII) has a market cap of $5.6 billion. It fell by 2.5% to close at $86.64 per share on August 31, 2016.
Why Union Pacific’s Chemicals Revenues Slumped in 2Q16
In the second quarter of 2016, Union Pacific’s (UNP) chemicals revenues declined 5% to $864.0 million, from $905.0 million in 2Q15.
How Does Polaris Industries Compare to Its Peers?
The year-to-date price movements of Polaris Industries, MOAT, IVOG, and RYJ are 12.0%, 18.3%, 9.5%, and 7.2%, respectively.
Polaris Industries Announces 2Q16 Results and Quarterly Dividend
Polaris Industries (PII) has a market cap of $6.1 billion. It rose by 9.1% to close at $95.03 per share on July 20, 2016.
Raymond James Downgrades Polaris Industries to ‘Market Perform’
Raymond James has downgraded Polaris Industries’ rating to “market perform” from “strong buy.”
CSX’s Intermodal Traffic Declines on Par with Rival NSC
Railroads are four times more fuel efficient than trucks, and the driver shortage in trucking is meanwhile fueling intermodal growth.
How Coal Burned a Hole in Union Pacific’s 1Q16
Union Pacific’s (UNP) Coal segment saw its revenues fall to $519 million in 1Q16, which represents a 43% YoY drop from the $915 million it saw in 1Q15.
KeyBanc Raised Polaris Industries’ Price Target to $100 per Share
Polaris Industries (PII) has a market cap of $5.9 billion. PII rose by 2.4% to close at $91.29 per share as of February 26, 2016.