Shares of extreme ultraviolet lithography equipment maker ASML (Nasdaq: ASML) fell 17% today after announcing Q3 results. The company released better-than-expected sales and earnings for Q3, but it reported a sharp drop in its order bookings for future product shipments, which fell by 53% from Q2 down to €2.6 billion. The company also lowered its
The Wall Street Journal has reported today that Verizon is in advanced talks to buy Frontier Communications (Nasdaq: FYBR) in an all-cash transaction. As a reminder, in a change of control Frontier must pay $1,010 for our 5.875% bonds maturing November 1, 2029. The bonds rose over $80 on the news and are currently trading
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
Non-bank direct lenders, which normally concentrate on small-to-medium enterprises, are now playing in the big leagues. A big question is whether these non-traditional lenders will continue to keep a lid on defaults when the U.S. economy eventually hits a rough patch.
Non-bank direct lenders, which normally concentrate on small-to-medium enterprises, are now playing in the big leagues. A big question is whether these non-traditional lenders will continue to keep a lid on defaults when the U.S. economy eventually hits a rough patch.
On June 9, we recommended purchasing the shares of internet infrastructure giant Amazon (Nasdaq: AMZN), based on the growth of its cloud-computing business. And on June 27, we recommended purchasing the shares of homebuilder Skyline Champion (NYSE: SKY), due to the lack of existing home inventory and the rising demand for new homes. However, since
On March 3, 2023 we recommended shares of Activision Blizzard, whose on-again, off-again deal prospects with Microsoft have fueled great speculation. This week, a positive development in the negotiations has pushed ATVI shares 10% higher – close to our best-case-scenario projected upside.