We recommend selling the iHeart Media (Nasdaq: IHRT) 6.375% bonds because of concerns about the poor performance of the company’s radio stations. iHeart reported operating results for the quarter ending June 30 that were in line with the company’s lowered expectations. Revenue was $929 million, up 1% in the same quarter last year. Operating profit
We are recommending selling shares of electrical-infrastructure equipment maker Atkore (NYSE: ATKR). The company reported disappointing results for its fiscal Q3 earnings period (ending June 30). We’ll provide an in-depth review of the results in the upcoming portfolio update on August 16. For now, the key takeaway is that the company has suffered from a
Editor’s Note: On Mondays we turn the spotlight outside of Porter & Co. to bring you exclusive access to the research, the thinking, and the investment ideas of the analysts who Porter follows. (If you missed our announcement explaining your newest membership benefit, The Porter & Co. Spotlight, you can read it here.) Each month we’ll focus on an analyst who isn’t
The economy has reached a critical inflection point, with widespread consumer distress and a stalling labor market signaling an imminent recession. We’re bracing for a bear market, and providing an update on some of the recommendations in The Big Secret portfolio.
Wilbur Ross engaged in the nitty-gritty of negotiations among distressed companies and their creditors during his decades at the center of some of Wall Street’s biggest bankruptcies. In this exclusive excerpt from his upcoming memoir, Risks and Returns, Ross provides readers a fresh viewpoint as someone who was in the game.