deepblue4you Welcome to another installment of our Preferreds Market Weekly Review, where we discuss preferred stock and baby bond market activity from both the bottom-up, highlighting individual news and events, as well as top-down, providing an overview of the broader market. We also try to add some historical context as well as relevant themes that…
cemagraphics The S&P 500 (SPY) made another decisive break higher this week. This follows several weeks of stalling and a shift in market behaviour (lower weekly closes, weaker action on Fridays) which failed to deliver a decisive breakdown. As last weekend’s article concluded, “The charts show indecision rather than a strong signal either way…the odds…
FrankRamspott/E+ via Getty Images Investment Thesis Global Insured Catastrophe losses exceeded $100bn for the 4th year running according to a recent report by Aon. Climate change and demographic change make this likely to be a long term trend. Insurance and reinsurance companies are one way to invest in this trend – but these have to…
georgeclerk The valuation gap between large caps and mid-caps closed a bit over the final nine weeks of 2023, but a strong January showing from the biggest of the big stocks and generally soft returns from mid-size equities caused that gap to widen once more. Heading into February, and the bulk of mid-cap earnings season,…
Osvaldo Hernandez/iStock via Getty Images In August, I took a look at Ball Corporation (NYSE:BALL) after it announced the divestment of its aerospace segment. The company sold its aerospace unit in a $5.6 billion deal in order to streamline operations and reduce debt, with a relative limited impact on earnings seen. The investment case relied…
da-kuk Upstart (NASDAQ:UPST) has been faced with a tough business environment since interest rates began their steep rise in early 2022. Still, hope is on the horizon. The company has secured committed funding, substantially lowered its cost basis, and launched new products. Interest rates will also trend downward soon. Upstart’s shares have already played this…
As the crypto market braces for the Federal Reserve’s decision, traders are showing caution, evidenced by a 40% drop in trading volume over the last 24 hours. Bitcoin (BTC), the world’s leading cryptocurrency, finds itself in a period of consolidation around the $41,000 price mark, as traders eagerly await the Federal Reserve‘s interest rate decision,…
Kimberly Delaney/iStock via Getty Images Thesis I have been researching cannabis companies since the industry-wide rally in early 2021. With most of the industry unable to find positive cash flow through the 280e tax obligation, a majority of the operators in the United States have been unable to find positive cash flow or net income….
Chip Somodevilla/Getty Images News Our last coverage of The Walt Disney Company (NYSE:DIS) was almost 9 months back. While we rated the stock a hold/neutral (unlike our 2021 pieces, see here and here), we felt that the magic number was likely to be $80. But Disney’s 2X sales multiple pre-COVID-19 was a far more profitable…
EHStock/iStock via Getty Images Investment Overview – Outstanding Start to 2023 For Apellis As SYFORVE Approved I last covered Apellis Pharmaceuticals (NASDAQ:APLS) for Seeking Alpha in a deep dive note at the end of January, giving the company a “buy” recommendation, when the company’s stock traded at ~$53 per share. What a roller-coaster ride the…
malerapaso By Fawad Razaqzada US Dollar Rally Stalls Ahead of US Data The strength of the dollar is nonetheless going to hurt US exports and thus weigh on inflation further in the coming months, meaning that our longer-term outlook remains bearish on the dollar. Before discuss the US dollar analysis further, here’s a weekly chart…
metamorworks/iStock via Getty Images The Company Celestica Inc. (NYSE:CLS) (TSX:CLS:CA) is a $2.5-billion market cap company based in Toronto, Canada, that offers supply chain solutions across North America, Europe, and Asia. According to the latest quarterly 6-K filing, CLS operates through 2 segments: Advanced Technology Solutions [ATS] – 44% of total revenue – delivers innovative…