Dear Readers, Shares of semiconductor chip designer ARM Holdings (Nasdaq: ARM) have dropped below the level of our 10% trailing stop loss. We recommended ARM shares on September 18 at $138, and are following our stop loss recommendation to sell at $134. We will use today’s closing price as the official exit price in our
With shares trading up more than 100% from our entry price, we are recommending selling a half position in Peloton Interactive (Nasdaq: PTON). In our initial report on Peloton, “A Change of Gears,” dated October 11, 2023, we recommended purchasing Peloton’s 0% coupon bonds coming due February 15, 2026. At the time these bonds were
Less than six weeks ago, on Friday, September 6, we recommended buying shares of Sagimet Biosciences (Nasdaq: SGMT). Since we published our report, Sagimet’s management has appeared at several institutional-investor conferences and has also released a fuller data set confirming its blockbuster Phase II clinical trial results for the company’s lead drug candidate denifanstat. Yesterday,
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