honglouwawa/iStock via Getty Images Shares of Regeneron (NASDAQ:REGN) have held up well despite the first quarter revenue and EPS miss. The stock is up 9% year-to-date, and it is outperforming the biotech benchmark ETFs despite the first quarter miss and the company receiving two complete response letters (‘CRLs’) from the FDA for odronextamab for the…
martin-dm/E+ via Getty Images Investment Thesis I believe PayPal’s (NASDAQ:PYPL) conservative reset of expectations for this quarter (via the guidance they gave last quarter) sets the company up for a strong buy despite recent underwhelming quarters. The fintech’s upcoming earnings announcement has set expectations at a consensus EPS estimate at $1.22, up 4.31% YoY. Revenue…
tadamichi Late December last year, I issued my first article on Trinity Capital Inc. (NASDAQ:TRIN), which focuses on providing debt and equipment financing to growth stage and smaller size companies. In terms of the typical investments, which TRIN offers to these companies, there is nothing extraordinary as the lion’s share of the portfolio consists of…
Hispanolistic After reporting better-than-expected Q1 2024 results, Ally Financial Inc. (NYSE:ALLY) is already up more than 20% since I last covered the stock in January of this year Seeking Alpha About a year ago, I showed why comparisons between ALLY and other poorly governed financial institutions were not appropriate and indicated that the company could…
Skyhobo/iStock Unreleased via Getty Images Alaska Air Group, Inc. (NYSE:ALK), the parent company of Alaska Airlines, Horizon Air, and soon Hawaiian Airlines (HA), is scheduled to report and discuss Q1 earnings on Thursday, April 18. In this seasonally slower quarter, the Seattle-based company is expected to deliver flattish top-line growth with revenues likely to come…
EschCollection/DigitalVision via Getty Images This is a key season for regional bank earnings. Concerns over higher for longer interest rates, consumer credit debt, delinquencies, 7% plus mortgage rates, and a brewing issue with commercial real estate exposure have combined to generate a lot of anxiety. Of course, not all banks cater to the same type…
Colin Anderson Productions pty ltd Following a bullish six months, Q2 has got off to a less impressive start and change is in the air as “higher for longer” expectations for rates are finally having an effect. The S&P 500 (SPY) has broken the trend support in place for over two months and has already…
Khanchit Khirisutchalual Quarter and Calendar-Year Review The Oakmark Equity and Income Fund (MUTF:OAKBX) (“the Fund”) returned 4.92% during the first quarter, compared to 5.15% for the Lipper Balanced Fund Index. This was driven by an 8.53% return on our equity portfolio, which lagged the S&P 500 Index of 10.56%1. This was partly due to an…
Nikada The Oakmark International Fund (MUTF:OAKIX) (“the Fund”) returned 0.11% for the quarter ended March 31, compared to the benchmark, the MSCI World ex USA Index (net), which returned 5.59% for the same period. In addition, the Fund has returned an average of 8.55% per year since its inception in September 1992, outperforming the MSCI…
Martin Barraud The Oakmark Global Select Fund (MUTF:OAKWX) (“the Fund”) returned 2.95% for the quarter, underperforming the MSCI World Index (net), which returned 8.88%. Since its inception in October 2006, the Fund has returned an average of 7.60% per year, outperforming the MSCI World Index’s return of 7.42% over the same period. Past performance is…
da-kuk “You can’t predict. You can prepare.” -Howard Marks. Meteorologist Edward Lorenz is best known for coining the term “butterfly effect,” the idea that a slight disturbance, like the flapping of a butterfly’s wings, can provoke enormous consequences. As told in the book “Chaos” in 1961, Dr. Lorenz ran weather simulations using a simple computer…
Dilok Klaisataporn 4-Factor Dividend Growth Portfolio The 4-factor dividend growth portfolio was launched on November 1st, 2022. You can read about the strategy, stock selection process, and portfolio construction in this 4-Factor Dividend Growth Portfolio article. In a nutshell, the strategy leverages the stock selection process of Schwab U.S. Dividend Equity ETF (SCHD), or rather…
Scott Olson S&P 500 Closed At A Record In Q1 As we come to the end of the first quarter of 2024, it’s timely for us to assess the best opportunities ahead as we look ahead to Q2. Notably, the S&P 500 (SPX) (SPY) notched its best first quarter since Q1’19, as the market rose…
Scharfsinn86 Note: I have covered Westport Fuel Systems Inc. (NASDAQ:WPRT) previously, so investors should view this as an update to my earlier articles on the company. After the close of Monday’s regular session, Westport Fuel Systems Inc. or “Westport” reported mixed fourth quarter and full year 2023 results. While revenues of $87.2 million came in…
Lemon_tm Dear Fellow Shareholders, FPA Flexible Fixed Income Fund (the “Fund”) returned 4.11% in the fourth quarter of 2023 and 9.02% for the year ended December 31, 2023. With inflation progressing towards the Federal Reserve’s 2% inflation objective, the Federal Reserve held the Fed Funds rate constant throughout the fourth quarter. The Federal Reserve also…
DNY59 Introduction Okeanis Eco Tankers (NYSE:ECO) is my favorite way to capitalize on the on-going bull market in the crude tanker sector. I have been long the stock since 2022 and have been covering it on a number on occasions (here is the link to my most recent coverage). In this article, I re-visit the…
Justin Sullivan Investment Thesis My previous Broadcom (NASDAQ:AVGO) bullish earnings preview aged extremely well, because the stock surged after the strong previous earnings release. Since early December 2023, the stock rallied by more than 50%, substantially outpacing the broader U.S. market. Today, I want to update my thesis about the company, and it is pre-earnings…
Michael M. Santiago/Getty Images News Investment Thesis I believe that while NVIDIA (NASDAQ:NVDA), a leading force in the AI and data center chip market, produced powerful numbers in this recent quarter, investors should still take caution. Despite its impressive revenue surge, with overall revenues topping $22.1 billion in Q4 FY 2024, reflecting a strong 265%…
miroslav_1/iStock Editorial via Getty Images During the fourth quarter of last year, the LNG shipping sector, represented by the UP World LNG Shipping Index (UPI), strengthened and gained 4.20%. The S&P 500 (SPX) index gained 11.24% during the same period. The following picture compares both indices. In this report, I also provide data for the…
miniseries It would be remiss of us to not thank Clyde McGregor for his tremendous contribution to our clients and in turn the firm. Clyde would be the first to point out this was a team effort and the last to mention that he has been an exemplary teammate at Harris Associates for the last…
Hispanolistic Oakmark Select Fund – Investor Class Average Annual Total Returns 12/31/23. Since Inception 11/01/96 11.80% 10-year 8.86% 5-year 15.94% 1-year 43.00% 3-month 14.61% Expense Ratio: 0.98% Expense ratios are from the Fund’s most recent prospectus dated January 28, 2023; actual expenses may vary. Past performance is no guarantee of future results. The performance data…
mohd izzuan/iStock via Getty Images The Oakmark Fund (“the Fund”) returned 12.92% compared to 11.69% for the S&P 500 Index during the fourth quarter. The Fund returned 30.89% compared to 26.29% for the S&P 500 Index (SP500) for the calendar year. We are pleased that the Fund outperformed in both the quarter and the full…
Alexandr Lebedko/iStock via Getty Images January 9th ended up being a very positive day for shareholders of WD-40 Company (NASDAQ:WDFC). The company, well known for its flagship product, WD-40, reported financial results covering the first quarter of its 2024 fiscal year. This data came out after the market closed. With management exceeding forecasts on both…
Juan Jose Napuri Just over four months ago, I wrote on Evolution Mining (OTCPK:CAHPF), noting that with the stock continuing to trade at a premium valuation relative to its peers, I expected any rallies above US$2.75 to provide an opportunity to book some profits. Since breaching this level in November and again in December, the…
aeduard While it was a mixed year operationally for the precious metals sector (GDX) with several companies missing on cost estimates like Jaguar Mining (OTCQX:JAGGF), IAMGOLD (IAG), and Hecla Mining (HL), New Gold (NYSE:NGD) has been one Tier-1 jurisdiction producer to exceed estimates, tracking to the high end of production guidance and the low end…
MikeMareen Note: Seadrill Limited (NYSE:SDRL) has been covered by me previously, so investors should view this as an update to my earlier articles on the company. Strong Third Quarter Results Last week, leading offshore driller Seadrill Limited or “Seadrill” reported better-than-expected third quarter results with strong profitability and decent free cash flow generation: Company Press…
Tramino Note: I have covered Nikola Corporation (NASDAQ:NKLA) previously, so investors should view this as an update to my earlier articles on the company. Four weeks ago, ailing zero-emission transportation start-up Nikola Corporation (“Nikola”) reported abysmal third-quarter results and provided a disappointing near-term outlook. Company Presentation Reported revenues for the quarter turned negative as the…
champpixs Aon (NYSE:AON) delivered very solid Q3 FY23 results, and I am continually impressed with their margin expansion and substantial share buybacks. As a long-term shareholder of this stable growth company, I maintain a ‘Strong Buy’ rating with a fair value of $390 per share. Quarterly Review and Outlook In Q3 FY23, both their top…
cemagraphics The “no landing” and/or “soft landing” camp are not going to like this article. With that said, I’m just trying to call it like I see it regardless of who that may offend. Francois Trahan recently posted an interesting chart comparing the NAHB Index to the Unemployment Rate. The thesis was/is that if you…
sefa ozel/E+ via Getty Images China’s economy may be slowing, but ZTO Express (Cayman) Ltd. (2057.HK; NYSE:ZTO) still managed to deliver growth in the face of such headwinds, albeit small growth. The company, one of China’s top parcel delivery firms, reported this month that its third-quarter revenue rose 1.5% year-on-year to 9.08 billion yuan ($1.27…
Just_Super The Q3 Earnings Season for the Silver Miners Index is nearly over and one of the most recent companies to report its results was First Majestic Silver (NYSE:AG). Unfortunately, like Pan American (PAAS), it wasn’t a great quarter, with First Majestic reporting lower revenue, lower operating cash flow, and significantly higher costs. Worse, these…
tigerstrawberry JinkoSolar (NYSE:JKS) is the leading Chinese solar manufacturer that experienced a major decline in its share price during the year on the back of falling ASPs: FinViz However, despite that challenge, the third quarter results were simply phenomenal, and a share price recovery has started on the back of these results. Management argues that…
Lemon_tm In a recent article, I predicted that Realty Income (NYSE:O) would report strong 3rd quarter results. The reason why I felt so confident about it is that most of its net lease peers had already released their results and they had been great across the board: VICI Properties (VICI): Beat Essential Properties Realty Trust…
Nudphon Phuengsuwan Amid a broad market rally over the past few weeks, investors are now wondering: is it too late to get a jump on stocks again? In my view, the answer is no: but the key to beating the markets through next year will be to double down on high-quality small cap stocks that…
Drew Angerer Q3 Results – Good, But Less Of A Surprise This Time Unlike last quarter when I wrote that Berkshire Hathaway’s (NYSE:BRK.A) (NYSE:BRK.B) results “blew away the bears“, the 3Q results showed similar strength but were more anticipated by analysts. For example, in the preview article here on Seeking Alpha, the CFRA analyst quoted…
JHVEPhoto Introduction Houston-based Schlumberger Limited (NYSE:SLB) released its third quarter 2023 results on October 20, 2023. Note: As indicated regularly, I have followed SLB quarterly since December 2018. This article updates my article published on July 26, 2023. 1: 2Q23 Results Snapshot SLB again exceeded analyst expectations with third-quarter 2023 adjusted earnings of $0.78 per…
HeliRy Note: I have covered Imperial Petroleum (NASDAQ:IMPP, NASDAQ:IMPPP) previously, so investors should view this as an update to my earlier articles on the company. Last week, Imperial Petroleum reported very weak third quarter results as fleet utilization suffered from an elevated number of dry-dockings as well as seasonally weaker demand. In addition, revenues and…
Brandon Bell/Getty Images News Introduction San Antonio-based Valero Energy Corporation (NYSE:VLO) released its third-quarter 2023 results on October 26, 2023. Note: This article updates my article published on August 26, 2023. I have followed VLO on Seeking Alpha since December 2017. Among the three refiners I track on a quarterly basis are Valero Energy, Marathon…
Dilok Klaisataporn By Patricia Healy, CFA The third quarter of the year was certainly eventful. The US government almost shut down twice and the US government bond rating was downgraded by Fitch to below AAA, emphasizing governance issues. Fed members continued to signal higher-for-longer rates, raising fears of a recession. Strikes abounded, from screenwriters to…
BreatheFitness Covering Spanish multinational banking giant Banco Santander (NYSE:SAN) early last year, I argued that while the shares were cheap, they may underperform European peers with better capital returns potential like ING (NYSE:ING) and BBVA (NYSE:BBVA). That call has worked out nicely, with SAN materially trailing both those tickers albeit still returning a decent 25%…
Ca-ssis October’s flash PMI data revealed that Japan’s private sector economy concluded the eight-month growth streak that commenced in January 2023. This was attributed primarily to a sharper fall in manufacturing production, though services activity growth also slowed to the weakest in the year-to-date. At the same time, forward-looking indicators outlined the likelihood for further…
The Q3 figures for 2023 show that American Express pulled in record revenue despite increased expenses especially with customer engagements. Credit card giant American Express (NYSE: AXP) has published its revenue report for Q3 of 2023, pointing to record revenue for six consecutive quarters. According to an official press release, the company’s total revenue net of interest expense…
According to the Binance report, the crypto market saw declines across the board in Q3, as fundraising and developer activities tanked. Binance has called the third quarter of 2023 “a challenging quarter” for crypto. In its Q3 “Market Pulse” report, Binance highlighted a few drawbacks the crypto industry faced, adding insights and shedding light on…
den-belitsky Main Thesis/Background The purpose of this article is to take stock of the current market environment and to give my macro-level thoughts. There has been a definite uptick in volatility recently, with a number of “down days” strung together. While we ended last week on a high, the past few weeks have likely given…
tum3123 Global economic growth near-stalled for a second straight month in September amid a sustained contraction of developed market activity and an easing in the rate of emerging market expansion, according to the latest PMI indications. Slower expansions of both manufacturing and service sector activity caused overall emerging market output to expand at the weakest…
tadamichi The worldwide Purchasing Managers’ Index (PMI) surveys compiled by S&P Global Market Intelligence indicated a nineteenth successive monthly deterioration in global trade in September, albeit at a slightly more modest pace than seen in July and August. The seasonally adjusted PMI New Export Orders Index rose from 47.9 in August to 48.1 in September,…
DarrelCamden-Smith The Q3 Earnings Season for the Gold Miners Index (GDX) will begin later this month, and one of the first companies to report its preliminary results was New Gold (NYSE:NGD). Overall, the company had another solid quarter under its new leadership and is tracking well against its FY2023 guidance midpoint of 395,000 gold-equivalent ounces…
eyegelb It’s been a rough stretch for the Gold Juniors Index (GDXJ), with the sector finding itself down ~31% from its May highs despite a relatively mild decline in the gold price. This performance is even more frustrating when looking at the 3-year return, with the GDXJ down nearly 55% since Q3 2020 in a…
shaunl Supply chain activity has largely returned to normal, although uncertainties remain around corporate strategy, global trade policy, and environmental measures. Lower consumer demand is evident in US seaborne imports of consumer goods that have fallen by 26%. Industrial manufacturing has declined globally for over a year. Trade policies are becoming more restrictive and sustainability…
deepblue4you One could use the word anomaly for Q3 of the stock market. S&P 500 performance for the first two months of the quarter was driven by the “magnificent seven” large-cap tech-oriented stocks. About half of the year-to-date performance of the S&P Index was driven by these seven stocks. The other 493 stocks’ combined performance…