Hryhorii Bondar/iStock via Getty Images By Charlotte de Montpellier Industrial production down Industrial production contracted in August, falling by 0.3% over the month. Manufacturing output also fell, by 0.4% over the month. In addition, July’s figures were revised sharply downwards, losing 0.3 points. There was a clear downturn in August in most sectors of activity,…
Moussa81 It’s been a rough few weeks for investors who forgot that stocks don’t always go up. Ycharts The 8% decline in the S&P and Nasdaq is likely just a taste of what’s coming soon to a portfolio near you. Daily Shot Stocks have actually gotten more expensive as they’ve fallen because interest rates have…
LeManna/iStock via Getty Images In less than a month, I will reach an age milestone. I will be 65 years old. Previously, my milestone dates were age 55, when I retired, and age 62, when I began receiving Social Security benefits (and yes, I did the math on both decisions). I started to plan for…
J2R With the recent news on EssilorLuxottica (OTCPK:ESLOF, OTCPK:ESLOY), today we decided to confirm our long-term target on the company’s financials. At the Lab, we perceive EssilorLuxottica as a perfect MIX between a tech, a pharmaceutical player, and a fashion company. As a reminder our buy rating was also supported by a long-term trajectory of…
Ralf Hahn/iStock via Getty Images By Ewa Manthey, Commodities Strategist As the metals markets enter the last quarter of another turbulent year, the industry prepares to gather in London for a week of meetings and contract negotiations against a backdrop of a flagging Chinese economic recovery, slowing global growth and high interest rate environment. The…
Theo Wargo/Getty Images Entertainment Introduction There is no justice in the oil patch these days. Good companies, supplying badly needed products to a “thirsty” market are getting pounded out by the financial markets. There really has been no safe haven for holders of shale related equities over the past year. In spite of occasional fits…
zhnger Investment Thesis Luxury brands such as LVMH Moët Hennessy (OTCPK:LVMHF) can’t be built in days, months, or years. It takes decades for a company to develop its brand and create a moat around the business. LVMH is one of those companies that has built trust with customers, enabling high barriers to entry and pricing…
Feverpitched Dividend stocks have seen an absolute shellacking over the last year. The four defensive, debt-utilizing sectors of renewable power production (RNRG), real estate (VNQ), Utilities (XLU), and Consumer Staples (XLP) have sold off hard as interest rates have surged. Data by YCharts In the last month, long-term interest rates in particular have spiked. Corporate…
Portugal2004 As I briefly mentioned the last time I covered the firm, emerging markets and ‘premiumization’ (i.e. driving higher prices) likely represent Heineken’s (OTCQX:HEINY)(OTCQX:HINKF) best shot in terms of long-term earnings growth. At the end of the day the global brewers, of which Heineken is #2 to Anheuser-Busch InBev (BUD), only have so many drivers…
gremlin TD SYNNEX (NYSE:SNX) is a solutions aggregator for the IT ecosystem. Since my last report, the stock hasn’t moved a lot; it is trading around the same level. It recently announced its Q3 FY23 results, and I will analyze the results in this report. I think there might be a slight correction from the…
kynny Metal additive manufacturing technology company, Velo3D, Inc. (NYSE:VLD) reported Q2 2023 revenues of $25.13 million an increase of 27.95% (YoY) that missed estimates by $2.09 million. VLD’s EPS of -$0.10 also missed Wall Street estimates by $0.02. The stock has lost 10.86% (YTD) and is trading 67.5% below its 52-week high of $4.80 which…
svetikd Background The housing market has, for the last two years, largely confounded investors and economists with its resilience. It was largely thought that a rising interest rate environment would dampen housing prices: that hasn’t happened. It was thought that rising inflation would eat away at demand for homes as Americans delayed moving: that also…
zimmytws Introduction Thanks to actions by the FOMC to fight inflation by rising rates, fixed income funds, including variable rate and short duration funds, have suffered though at different magnitudes. For CEFs, the past actions and fear of future movements in interest rates, inflation, and municipal revenues have widened the gap between what investors pay…
Mimadeo/iStock via Getty Images The ABNB Investment Thesis Remains Robust, But Not At These Lofty Valuations We previously covered Airbnb (NASDAQ:ABNB) in May 2023, discussing its decelerating booking trend compared to its travel peers, naturally triggering its underwhelming financial and stock performance then. While there had been multiple long-term growth drivers, including the Airbnb-Friendly Apartment…
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Michael M. Santiago Introduction JPMorgan Chase (NYSE:JPM) is a household name in the financial sector. With a market capitalization of approximately $415B and a worldwide brand recognition, the bank is seen as a leader in its sector. Its financial performance is strong, and although there’s a push from US regulators forcing the banks to shore…
Sundry Photography As some of you may know, Zebra Technologies (NASDAQ:ZBRA) has been a part of my personal portfolio for over a year. Still, in my recent efforts to concentrate my portfolio on my best ideas, I decided to sell out of the company on July 10th at $306 per share or a 5% loss….
Hammad Khan/iStock via Getty Images Introduction As explained in my previous article, Wolters Kluwer (OTCPK:WTKWY) (OTCPK:WOLTF) is one of the global leaders in professional information where it has obtained a very strong position in the health, tax and accounting and risk and compliance sector. Wolters Kluwer used to be just a publishing house but hasn’t…
Sezeryadigar I recently wrote a cautious follow-up article on the Global X U.S. Preferred ETF (PFFD), arguing that caution is warranted for funds heavily invested in preferred shares of financial companies, as the root cause of the March regional bank crisis have not been resolved. With long-term interest rates dramatically higher now than in March,…
Olivier Le Moal Summary This article is part of our monthly series where we highlight five large-cap, relatively safe, dividend-paying companies offering large discounts to their historical norms. We go over our filtering process to select just five conservative DGI stocks from more than 7,500 companies that are traded on U.S. exchanges, including OTC networks….
KanawatTH Co-produced by Austin Rogers. There is always a lot of noise in the financial media about the state of the economy, but most of it is, to quote Shakespeare, “sound and fury signifying nothing.” So, let’s look at some data points to try to gain clarity on the state of the economy and specifically…
RiverNorthPhotography Investment Thesis My price target was triggered a couple of days ago, which is prompting me to look at T. Rowe Price (NASDAQ:TROW) again to see how the company has developed since February of this year and if it is a good time to start a position or if will we see further declines….
Wipada Wipawin Purpose I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to “mark your beliefs to…
onurdongel Investment thesis Our current investment thesis is: SKY is a well-managed business with a strong value proposition to markets. It has a strong retail presence across the US, which could be significantly enhanced if the Regional Homes deal closes. Further, it has deep expertise in manufacturing and is focused on innovating to improve customization…
Andrii Dodonov/iStock via Getty Images Written by Nick Ackerman, co-produced by Stanford Chemist. The Fed is looking to raise at least one more time, and with the new projections of fewer cuts in 2024 than previously expected, that pushed the risk-free rate to new heights in this latest rate cycle. That has put pressure on…
MicroStockHub By Peter Vanden Houte, Chief Economist, Belgium, Luxembourg, Eurozone Softening orders The latest economic data continues to confirm our scenario of a weakening growth environment in the eurozone, though the slowdown is no longer intensifying, as most indicators have stabilised around subdued levels. The PMI composite indicator is in contraction territory and the €-coin…
Hero Images Inc Shares of Brighthouse Financial (NASDAQ:BHF) have been a mixed performer over the past year, losing about 4% of their value. More notably, they had approached $60 before the market turmoil following the banking crisis, and shares have yet to fully recovery. BHF has a complex business-arguably somewhat of a financial “black box”-which…
Yaroslav Litun I’ve previously covered tobacco stocks, including international giant Philip Morris International (NYSE:PM). It’s been over two years since I covered the name, which you can read here. Yet, the share price remains roughly level today with where it traded then. I’ll argue that the market is offering a gift to investors, and you…
Mario Tama Rivian Automotive (NASDAQ:RIVN) saw its share price decline by one-fifth on Thursday after the electric vehicle company announced that it would raise more debt in order to finance the production ramp of the R1T and R1S. In a press release and filing with the SEC, the EV company said that it seeks to…
Wirestock Dear readers, Few companies are as storied, as qualitative, or as interesting as LVMH (OTCPK:LVMUY). In an environment like this, we need to be careful about every premium we accept for a company. However, I believe I am not alone when I say that LVMH is one company that I have no issue premiumizing…
TERADAT SANTIVIVUT Introduction from John P. Calamos, Sr., Founder, Chairman and Global Chief Investment Officer As the third quarter began, markets reflected investors’ upbeat mood, but this positive sentiment fizzled as the quarter wore on. Despite a steady stream of economic data continuing to surprise on the upside (Figure 1), investors became increasingly unsettled as…
Douglas Rissing By AJ Rivers, Matthew Scott The 10-year US Treasury yield has climbed ever higher in recent weeks. Technical conditions are in the driver’s seat for now, but fundamentals should prevail over time. US Treasury yields have surged, with the 10-year yield briefly topping 4.8% and the 30-year yield breaching 5% (Display). Bond prices…
Abu Hanifah The data sourced in the article below is derived from Lipper’s Global Fund-Flows application which may differ slightly from the Lipper U.S. Fund-Flow data due to timing and methodology. This new application can be found on LSEG Workspace. During LSEG Lipper’s fund-flows week that ended October 4, 2023, investors were overall net purchasers…
KanawatTH The 2023 Principal Global Financial Inclusion Index indicated that despite many economies navigating through a period of supply-side shocks, heightened inflation, and the consequent adjustments in interest rates, financial inclusion is improving on a global level. For investors, financial inclusion is tightly correlated to economic resilience, human development, and productivity, and could be read…
coldsnowstorm ETF Overview Fidelity MSCI Consumer Staples Index ETF (NYSEARCA:FSTA) owns a portfolio of mostly large-cap consumer staples stocks in the U.S. The fund is defensive in nature but still has significant downside risk due to its already rich valuation and that during economic downturns, valuation compression is still quite possible. Over the long run,…
AlexSecret Thesis summary Mega-caps stocks have been responsible for most of the market appreciation, but that doesn’t actually mean they are expensive. If we look at PEG specifically, they are quite cheap. Given what’s to come, there’s a valid reason why mega-caps should trade at a premium. Out of the Magnificent seven, Alphabet (NASDAQ:GOOGL) stands…
naphtalina/iStock via Getty Images About two years ago, I advised investors to avoid Essential Utilities (NYSE:WTRG) due to its rich valuation back then. I reiterated my thesis last year, as the stock had remain overvalued. Since my first article, the stock has declined 30% and thus it has dramatically underperformed the broad market, given that…
champc By Jeff Spiegel, Mark Orans U.S. investors in international markets may tend to focus broad benchmarks such as the MSCI Emerging Markets Index and as a result, may miss exciting opportunities to target specific countries. Local market trends and global forces leads us to believe that Japan, Mexico and India as three such opportunities….
zorazhuang/E+ via Getty Images There are few secrets in the semiconductor space, and that’s particularly true when you look at top-of-mind opportunities like silicon carbide (or SiC) and gallium nitride (or GaN) semiconductors. As a maker of essential chip-making equipment used in the production of SiC and GaN chips (as well as other chips/components like…
agnormark Clearwater Paper Corporation (NYSE:CLW) has been an average to below average business over the past decade and its stock has reflected this. This is not surprising given the fact that paper product companies are generally capital intensive, and operate in a very cyclical, fragmented and competitive industry. Only the very well-run companies in the…
fatido By Min Joo Kang Nominal labour cash earnings grew slower than expected in August We had expected to see some acceleration in earnings given the reasonably strong wage negotiation results from the last quarter, but disappointingly, headline growth rose 1.1% year-on-year in August (versus the revised 1.1% in July and the 1.5% market consensus)….
Phiromya Intawongpan One: The window of weakness is closing In my previous Chart Book, I discussed how we were entering a window of weakness following the mid-September quarterly options expiration. The last two or so weeks in September and the first week of October generally represent a window whereby the structurally positive flows of Vanna…
Darren415 Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company (“BDC”) sector from both the bottom-up – highlighting individual news and events – as well as the top-down – providing an overview of the broader market. We also try to add some historical context…
DNY59 Over the past few months, I have reviewed several funds from Simplify Asset Management. Some have been hits like the Simplify Volatility Premium ETF (SVOL), while others have been misses for my personal risk/reward profile. I believe the Simplify Hedged Equity ETF (NYSEARCA:HEQT) is a well-designed fund for conservative-minded investors. The HEQT ETF uses…
TERADAT SANTIVIVUT Today, we have news that the Canadian and US economies are estimated to have created more jobs in September than forecast. Still, hourly earnings moved down, and unemployment rates in both countries have moved above cycle lows. It is helpful to remember that unemployment is a lagging indicator, with the bulk of upward…
Bill Oxford/E+ via Getty Images Investment thesis Our current investment thesis is: Wix is highly attractive, owing to its high growth, rapidly improving margins, sticky customer base, scope for monetization, and global reach. We expect healthy growth to continue due to the growth in e-commerce, as well as the general digitalization of society. Wix is…