The Straits Times Index (SGX: ^STI) has slipped below the 4,300 mark, after spending most of September above this level.When volatility strikes, an income investor can look to defensive stocks that have stable earnings and dividends.Here are three defensive Singapore blue-chips you can consider, namely Singapore Exchange or SGX, Singapore Technologies Engineering or STE, and Singapore Telecommunications or Singtel.Singapore Exchange (SGX: S68) SGX is Singapore’s sole stock exchange operator. The group enjoy ...

Company Profile - Verizon Communications Inc. is a leading telecommunications company in the United States, providing wireless, broadband, and enterprise services. The company is recognized for its stable cash flows and consistent dividend payments, maintaining a strong market position amidst a competitive telecom landscape and significant capital expenditure requirements [2]. DCF Analysis - The DCF model inputs include a discount rate of 10%, a terminal growth rate of 3%, and a WACC of 10%. The forecasted free cash flows (in billions) are as follows: - 2025: $20.0 → PV: $18.18 - 2026: $21.0 → PV: $17.36 - 2027: $22.0 → PV: $16.54 - 2028: $23.0 → PV: $15.77 - 2029: $24.0 → PV: $15.04 - The total present value of free cash flows is $82.89 billion. The terminal value, calculated using the perpetuity growth model, is $353.14 billion, leading to a present value of terminal value of $221.80 billion. The enterprise value is thus $304.69 billion [3][4]. Net Debt and Equity Value - Verizon's financials show cash of $4.19 billion and total debt of $168.36 billion, resulting in net debt of $164.17 billion. The equity value is calculated as $304.69 billion minus net debt, equating to $140.52 billion. With 4.20 billion shares outstanding, the intrinsic value per share is $33.46 [4]. Conclusion - The DCF value of Verizon is $33.46, while the current stock price is $43.80, indicating a margin of safety of -24%. Despite generating reliable free cash flows and maintaining a leading position in the telecom sector, the stock trades above the conservative intrinsic value estimate, suggesting limited upside based on this DCF model [5].

Core Insights - Amphenol's Communications segment is experiencing significant growth, with a 101% year-over-year sales increase in Q2 2025, reaching nearly $2.91 billion, driven by high-speed interconnect solutions [1][9] - The demand for AI-driven infrastructure and high-speed data connectivity is the primary driver of this growth, particularly in the IT datacom sub-segment, which grew 133% organically due to AI workloads [2][9] - Strategic acquisitions, including the $10.5 billion purchase of CommScope's Connectivity and Cable Solutions business, are expected to add approximately $3.6 billion in annual sales, enhancing Amphenol's position in broadband and fiber connectivity [3][9] - Amphenol's strong free cash flow of $1.1 billion enables aggressive investment in innovation and operational scaling [3] - The company is well-positioned for sustained leadership in the connectivity space through a diversified portfolio and disciplined execution [4] Competitive Landscape - CommScope competes directly with Amphenol in communications infrastructure, offering broadband and fiber-optic solutions, but Amphenol leads in connectors while CommScope excels in large-scale infrastructure solutions [5] - Belden also competes in connectivity solutions, reporting $671.9 million in revenues and $61 million in net income, but is vulnerable to industry cycles and supply chain pressures compared to Amphenol's scale [6] Financial Performance - Amphenol's shares have appreciated 58% year-to-date, outperforming the broader Zacks Computer & Technology sector, which increased by 12.5%, and the Zacks Electronics - Connectors industry, which returned 57.1% [7] - The Zacks Consensus Estimate for Amphenol's 2025 earnings is $3.02 per share, reflecting a 59.79% year-over-year increase [14] - Amphenol's current Price-to-Earnings (P/E) ratio is 33.74X, higher than the sector's average of 27.64X, indicating a premium valuation [11]

Core Insights - Vantiva, a global technology leader in the Customer Premises Equipment (CPE) market, has made its half-year financial report for the period ending June 30, 2025, publicly available as of August 4, 2025 [2][3]. Company Overview - Vantiva, formerly known as Technicolor, has been delivering connectivity solutions for over 130 years, focusing on broadband, video, and IoT-driven smart systems [3]. - The company combines a customer-focused approach with extensive expertise in software development, electronics hardware design, and supply chain management to provide high-quality solutions at scale [4]. - Vantiva has received multiple Gold and Platinum Medals from EcoVadis for its commitment to sustainability and responsible business practices, ranking among the top 2% of organizations in its category globally [5]. Global Presence - The company is headquartered in Paris and has major offices in Australia, Brazil, China, India, South Korea, the United Kingdom, and the United States, serving a diverse global customer base [5].

Company Overview - Telephone and Data Systems, Inc. (TDS) provides wireless, broadband, video, and voice services to approximately 5.5 million connections nationwide through its subsidiaries, UScellular and TDS Telecom [2] - TDS was founded in 1969 and is headquartered in Chicago, employing approximately 7,800 associates as of March 31, 2025 [2] Upcoming Financial Events - TDS and United States Cellular Corporation will webcast their second quarter operating results conference call on August 11, 2025, at 9:00 a.m. Central Time [1] - The companies will release their financial results on the same date, August 11, 2025 [1] - Interested parties can access the webcast through the events & presentations pages of their respective investor websites, with a recommendation to register at least 15 minutes prior to the presentation [1]

Company Overview - Vantiva is a global technology leader in the Customer Premises Equipment (CPE) market, formerly known as Technicolor, with over 130 years of experience in delivering connectivity solutions [5][6] - The company focuses on broadband, video, and IoT-driven smart systems, enhancing global connectivity for individuals and businesses [5][6] Shareholders' Meeting - A Combined Shareholders' Meeting is scheduled for June 30, 2025, at 2 p.m. in Paris, France [2] - The Preliminary Notice of Meeting, including the agenda and proposed resolutions, was published on May 23, 2025, with a convening notice to be published on June 11, 2025 [3] Document Availability - Shareholders can request preparatory documents for the meeting as per Article R.225-83 of the Commercial Code, and these documents will be available for consultation at the company's head office 15 days prior to the meeting [4] - Relevant documents and information regarding the General Meeting can be downloaded from Vantiva's website [5] Sustainability Commitment - Vantiva has received multiple Gold and Platinum Medals from EcoVadis for its environmental and social performance, ranking among the top 2% of organizations in its category globally [7]

Group 1 - Telephone and Data Systems, Inc. (TDS) will webcast its 2025 Annual Meeting of Shareholders on May 22, 2025, at 9:00 a.m. Central time [1] - The meeting will be available both live and on-demand, with a recommendation to register at least 15 minutes prior to the start [1] Group 2 - TDS provides wireless, broadband, video, and voice services to approximately 5.5 million connections nationwide through its subsidiaries, UScellular and TDS Telecom [2] - The company was founded in 1969 and is headquartered in Chicago, employing approximately 7,800 associates as of March 31, 2025 [2]