gaffera Transcript Twelve-month returns for the MSCI Japan are near 17% in U.S. dollar terms (as of May 6, 2024). We don’t see the recent slump in the yen to 34-year lows against the dollar derailing this momentum. Japan’s growth outlook remains rosy and corporate reforms are taking hold. 1) Central bank policy intervention An…
EschCollection The Franklin FTSE Japan ETF (NYSEARCA:FLJP) is a mostly value-weighted slice of the Japanese markets, putting a little more emphasis on some sectors like consumer discretionary as opposed to financial services. Firstly, we agree with that positioning given the Japanese Yen situation, where discretionary exports benefit from the weaker Yen. But in general, we…
imantsu Investment Thesis I recommend holding WEG (OTCPK:WEGZY) shares after the 1Q24 results, released on May 2nd. As I mentioned in my coverage initiation report, the company has a stretched valuation and needs great results to justify it. On the positive side, the good performance of long-cycle businesses, together with expense control, helped keep the…
Luis Alvarez/DigitalVision via Getty Images Originally published on May 3, 2024 By SchiffGold The analysis below covers the Employment picture released on the first Friday of every month. While most of the attention goes to the headline number, it can be helpful to look at the details, revisions, and other reports to get a better…
Pgiam/iStock via Getty Images My Thesis Lucid’s (NASDAQ:LCID) market cap nearly reached $100 billion in 2021 amidst the pandemic-driven stock market rally. The company had ambitious plans to challenge Tesla’s (TSLA) dominance in the EV industry. However, its market share in the U.S. EV market in 2023 comprised a modest 0.55%, lower than in 2022….
Userba011d64_201 In September 2023, I circulated an article on the Global X Russell 2000 Covered Call ETF (NYSEARCA:RYLD), which applies a covered call strategy against Russell 2000 Index by going long Vanguard Russell 2000 ETF (VTWO) and writing covered calls against the index – VTWO. The thesis was simple and bearish, as the underlying exposure…
bunhill Advanced Micro Devices (NASDAQ:AMD) stock has been a big winner over the past few years: Bolstered by the sentiment tailwind associated with GenAI, the shares have returned approximately 63%, compared to a gain of less than 20% for the S&P 500 (SP500), a 3x out-performance. However, investors should note that this bull run has…
Yuri_Arcurs/E+ via Getty Images On Monday, Broadband services platform provider Calix, Inc. or “Calix” (NYSE:CALX) reported Q1/2024 results in line with the guidance provided by management in the Q4/2023 stockholder letter: Regulatory Filings While revenues and profitability were down both sequentially and year-over-year, gross margins reached new all-time highs. In addition, the company continued to…
Kosal Hor/iStock via Getty Images Summary Following my coverage of J.B. Hunt Transport Services (NASDAQ:JBHT) (published on 5th Feb 2024), that I recommended a buy rating as I was positive about the growth recovery trend, which I thought was evident in the intermodal [IM] segment volume performance, this post is to provide an update on…
Monty Rakusen Article Thesis ASML Holding N.V. (NASDAQ:ASML) is one of the most important companies in the wider chip industry. The company’s most recent earnings results, reported on Wednesday morning, were uninspiring, however, which caused a steep sell-off. For longer-term investors who believe in the chip story, this share price decline could be a buying…
Bartolome Ozonas Investment Thesis B&G Foods, Inc. (NYSE:BGS) has been on a downward trajectory, losing about 64.30% over the last three years and underperforming the S&P 500 by a margin of 85.67%. Seeking Alpha I largely attribute the company’s dismal performance to its poor financial health characterized by net losses and a high debt burden….
gsheldon Chocolatier The Hershey Company (NYSE:HSY) hasn’t seen its stock go anywhere in 2024, which compares to the 7.4% increase in the S&P 500 (SP500) year-to-date [YTD]. To be fair, consumer staple stocks tend to be relatively slow-moving, and this also shows up in the fact that even over the past decade it has risen…
metamorworks In our previous analysis of QuidelOrtho Corporation (NASDAQ:QDEL), we focused on the company’s profitability, highlighting its lower-than-expected margins mainly due to a higher-than-anticipated depreciation with higher fixed assets and other non-operating expenses. However, we revised our forecasts while still expecting an improvement in average gross margins and reduced non-operating expenses in 2024, leading to…
Liuhsihsiang Uncertainty has been a watchword in the manufacturing space for a while now, and the results at Hurco (NASDAQ:HURC) certainly reflect that. When I last wrote about this small manufacturer of machine tools, I was concerned about an ugly near-term outlook for manufacturing tool demand in North America and Western Europe and the likelihood…
Michael Vi Shares of Keysight Technologies (NYSE:KEYS) have been a poor performer over the past year, trading essentially flat and missing out on a significant rally across the technology sector. The company has struggled with weak orders from wireless carriers and softness in China. Having worked down its backlog, it now faces revenue declines. Since…
PixelsEffect The seasonally adjusted annual rate of sales of existing single-family houses, condos, and co-ops rose 9.5% in February from January, but that increase was smaller than the increase in February 2023 (+11.5%), and so the annual rate of sales at 4.38 million homes, was still down 3.3% from the already collapsed levels of February…
Ethan Miller Note: I have covered VOXX International Corporation (NASDAQ:VOXX) previously, so investors should view this as an update to my earlier articles on the company. Leading automotive and consumer electronics products manufacturer and distributor VOXX International Corporation or “VOXX International” continues to operate in a challenging business environment as once again evidenced by the…
LumiNola Investment action I recommended a buy rating for Clarivate Plc (NYSE:CLVT) when I wrote about it the last time, as the business has turned its organic growth around to positive territory, and there are tailwinds that I expected would drive organic growth even higher. Based on my current outlook and analysis, I recommend a…
VisualCommunications/E+ via Getty Images Introduction Vail Resorts, Inc. (NYSE:MTN) is an owner and operator of ski resorts in North America and Europe. With over 40 mountain resorts, the company owns some of the most well-known and highly coveted mountain resorts visited by millions of skiers and snowboarders every year. It also has other activities like…
bjdlzx I initially started coverage of Range Resources (NYSE:RRC) back in February of 2023 with a “Hold” rating, saying that low natural gas prices were likely to hamper the company the rest of the year. Gas prices have been pretty weak, but RRC’s stock has managed to gain over 40% since my write-up. Let’s catch…
Brandon Bell/Getty Images News Shares of Camden Property Trust (NYSE:CPT) have been a material underperformer over the past year as higher rates have weighed on real estate valuations. On top of this, a surge of supply has negatively impacted the apartment sector, pushing down rents. Last September, I rated CPT a buy, arguing shares had…
da-kuk/E+ via Getty Images Summary Readers may find my previous coverage via this link. My previous rating was a hold for Paycom (NYSE:PAYC), as I became uncertain about the near-term future of the business, given that the growing adoption of BETI is expected to cannibalize growth. I am reiterating my hold rating as various headwinds…
LukaTDB Carrier Global (NYSE:CARR) announced its Q4 FY23 results on February 6th, with flat organic revenue growth and a 7.9% increase in adjusted profit. I presented my ‘Strong Buy’ thesis in my previous article, highlighting their strong margin expansion and structural growth from the heat pump market. I maintain my ‘Strong Buy’ rating with a…
Vithun Khamsong/Moment via Getty Images Parker-Hannifin (NYSE:PH) is a diversified industrial manufacturer specializing in motion and control technologies for mobile, industrial, and aerospace markets. They reported Q2 FY24 results on February 1st, raising their full-year outlook for margin and EPS. With the stock price deemed fairly valued, I recommend a ‘Hold’ rating, setting a fair…
tupungato Covering BNP Paribas (OTCQX:BNPQY)(OTCQX:BNPQF) last October, I remarked that mixed Q3 results would do nothing to improve sentiment toward the stock. More recent results covering Q4 certainly won’t help either, with the Paris-listed shares around 9% lower on the day post-release. Though down sharply following results, the ADSs have still returned around 6% since…
JHVEPhoto/iStock Editorial via Getty Images Listen below or on the go on Apple Podcasts and Spotify Intel (INTC) stumbles as weak guidance overshadows Q4 results. (00:22) Apple (AAPL) announces the biggest shakeup to iOS and the App Store since launch. (01:25) California regulator OK’s $45M PG&E (PCG) payment in Dixie Fire settlement. (03:11) This is…
Robert Way Following Tesla, Inc. (NASDAQ:TSLA) (NEOE:TSLA:CA) results for the September quarter, I argued that the U.S. leading EV maker is a Sell, as I have pointed out slowing growth and weakening margins. Since my argument got published, TSLA shares have returned negative 4%, while the S&P 500 gained 13%. Looking ahead to Tesla’s Q4…
onurdongel/E+ via Getty Images Synopsis Armstrong World Industries (NYSE:AWI) is a leading manufacturer of innovative commercial and residential ceiling, wall, and suspension system solutions. AWI’s historical financials have shown a robust recovery in revenue growth from the impact of COVID-19, but I do notice a slowdown in growth due to weakening housing demand. In addition,…
Spencer Platt Timeline: 2 Years Price Target: $50 / share Estimated Annual Returns: 15% Risk Level: Low. APA Corporation (NASDAQ:APA) (formerly known as Apache) is a large upstream oil and natural gas producer with a market cap of more than $10 billion. In a volatile pricing environment, the company has focused on continued strong production…
JHVEPhoto Thermo Fisher Scientific (NYSE:TMO) has revised their full-year revenue guidance, attributing the adjustment to a 1% core organic growth, primarily influenced by sluggish growth in China and the diminishing impact of COVID-related revenue. Their outlook for FY24’s core organic revenue growth mirrors the levels seen in FY23, indicating another year of modest expansion. In…
Drazen_ Summary Readers may find my previous coverage via this link. My previous rating was a hold, as I believed Petco Health and Wellness Company (NASDAQ:WOOF) was going to see negative near-term performance. I also expected the possibility of WOOF missing guidance if management cut prices more aggressively than expected. I am reiterating my hold…
champc The BlackRock Energy and Resources Trust (NYSE:BGR) is a CEF which provides investors exposure to an energy sector buy-write strategy. Since its inception in December 2004, BGR has delivered a substantially lower total return than comparable passive ETFs while at the same time exhibiting roughly the same level of volatility. I believe this dynamic…
alvarez Investment Thesis Greif (NYSE:GEF) mainly focuses on offering industrial packaging products and services globally. The company has recently reported its quarterly and FY2023 results and experienced a downturn in its performance as a result of declining industry demand. I believe the industry dynamics can be constant for the next quarters and might affect the…
SimonSkafar Summary Following my coverage of CNH Industrial (NYSE:CNHI) in June, which I recommended a buy rating due to my expectation that CNHI’s fundamentals remained strong and were on track to meet FY24 targets. I was also very positive about the margin expansion outlook. This post is to provide an update on my thoughts on…
JHVEPhoto/iStock Editorial via Getty Images In the past month, Nucor (NYSE:NUE) has seen its stock return toward a 52-week high, and last Thursday, it rallied even after releasing guidance, which would seem disappointing. This speaks to the increased optimism about a cyclical upturn in activity, following more dovish Federal Reserve guidance. Shares are roughly flat…
THEPALMER Investment Thesis BRP Inc. (NASDAQ:DOOO) is an adventure sports vehicle manufacturer based in Valcourt, Canada. Since my last analysis, the stock price has corrected 15%. After analyzing its Q3 FY24 financial performance and its future growth prospects, I am updating my rating to Hold. In this thesis, I will be looking into the company’s…
fizkes Stock Snapshot Today’s trending story in the financial media has been today’s Fed meeting, and so what better time to revisit a bank stock I covered this summer. Some quick facts about Detroit-based Ally Financial (NYSE:ALLY) are that it is a top 25 financial holding company, has +11MM customers, and +$196B total assets. Its…
piola666 I called out the near-term risk of China’s deterioration for Mettler-Toledo (NYSE:MTD) in my introductory article back in September. Mettler-Toledo posted a very weak Q3 FY23 result on November 9th, with a -5% decrease in revenue on a constant currency basis and a -3.7% decline in adjusted EPS year over year. I believe the…
Justin Sullivan Apple (NASDAQ:AAPL) reported its Q4 FY23 results on November 2nd, 2023. The company experienced a 0.7% decline in revenue year-over-year, with foreign exchange having a negative impact of 2% this quarter. Product revenue decreased by 5% from last year, while service revenue grew by 16% year-over-year. As mentioned in my introductory article, I…
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…
JHVEPhoto UGI Corporation (NYSE:UGI) unveiled a complex financial narrative in Q3 2023, marked by significant variances in its earnings. This report showcased a decline in both GAAP diluted EPS and adjusted diluted EPS when set against the backdrop of the previous year’s figures. Despite the stability in its year-to-date EBIT, the contrasting earnings per share…
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,…
JHVEPhoto Investment action Based on my current outlook and analysis of Intuit (NASDAQ:INTU), I recommend a hold rating. While I acknowledge that INTU is a big and stable business that has consistently compounded FCF over the years, I believe it is still under the mercy of near-term macro movements. In particular, the current macro weakness…
Wolterk Roughly one year ago, I wrote on El Pollo Loco (NASDAQ:LOCO), noting that with the company committing to buybacks and a special dividend, the stock offered a decent reward/risk if it dropped below $10.00. After briefly dipping below $10.00 in early January, the stock enjoyed a ~30% rally but has since given up all…
Hitra/iStock via Getty Images Overview My recommendation for Fevertree Drinks Plc (OTCPK:FQVTF) is a sell rating, as I expect the valuation to revert down due to its deteriorating historical financial performance. This expectation is based on its historical financial performance, which has been showing signs of weakness. FQVTF recently reported disappointing second quarter results, indicating…
Drew Angerer The Fed’s interest rate pause at its September meeting was widely expected by market participants, even as headline inflation inched up for the second consecutive month in August to 3.7%. The Fed has mentioned the potential lagged impacts of the monetary policy tightening, which likely held it back from raising the Fed funds…
alvarez Greif (NYSE:GEF) offers industrial packaging products worldwide. GEF recently announced disappointing Q3 FY23 results. I will analyze its Q3 FY23 results in this report. Its valuation seems high, and the technical chart is bearish. I think we might see volatility in the stock price in the coming times, and I don’t see the company…
Yuichi Yamazaki/Getty Images News Elevator Pitch I continue to assign a Hold rating to Fanuc Corporation (OTCPK:FANUY) [6954:JP] shares. FANUY’s recent share price correction following Q1 results has already priced in headwinds associated with the company’s ROBOT business division, considering that its trailing P/E multiple is near a three-year low. As such, I decided to…
piranka Agricultural commodities have been the best-performing niche of the broad commodities space so far this year. The Invesco DB Agriculture Fund ETF (DBA) is higher by more than 7% in 2023 while DBC, commodities, is down 1%. That relative strength has helped firms that work to process and sell agricultural commodities and commodity products….
naphtalina/iStock via Getty Images Investment briefing After breaking the line of support in the ascending channel in its 2022—’23 price rally, the equity stock of Tactile Systems Technology, Inc. (NASDAQ:TCMD) has begun to roll over and push to the downside. This re-rating is not unfounded in my view. Thoughtful analysis of the company’s Q2 numbers,…