Search Coverage List, Models & Reports
Search Results1-10 out of 1520
The strong U.S. market rally continued last week, with the S&P 500 up another 0.9%. This brings the benchmark index’s return over the first 13 trading days of 2018 to 5.2%. Very near term, we’re tactically cautious given that many technical indicators are now in deeply ‘overbought’ territory and upside economic surprises are likely to take a breather from a scorching pace. However, we’d use any near-term weakness to become more cyclically positioned, as we believe that (1) the current market environment is being driven by an improving longer-term backdrop; and (2) investors are underestimating upside to company earnings from tax and regulatory reforms.
Liberty Latin America (LILA) (Market Cap of ~$3.6b) is a telecommunications company focused on providing broadband internet, Pay TV, fixed-line telephony and mobile services in Chile, Puerto Rico and 18 other countries in the Caribbean/Latin America.
Thus far in 2018, our bullish base case is playing out with the S&P 500 gaining more than 4%. However, we’re now tactically cautious given that many near-term technicals appear very stretched, including S&P 500’s RSI at its highest level on record! That said, we’d use any near-term weakness to become more cyclically positioned.
Akamai (AKAM) is exploring certain strategic alternatives, which could include a potential sale. Akamai has faced pressure from Elliott Management, which owns approximately 6.5% of the company, to improve shareholder value. Akamai is a large cloud delivery platform for the internet with approximately 200,000 servers across 130 countries.
We track the share price performance of thematic stock baskets relative to a sector neutral benchmark. In 2017, our top stock idea model (SIM), our corporate tax reform basket, companies with high cash, stocks with high EPS growth, and companies with high emerging markets risk were the best performing thematic baskets. In 2017, the worst performing themes were banks with high loan growth, value stocks, low P/E stocks, recent spin-offs, and companies with low earnings quality and high short interest. In December, our stock idea model (SIM), corporate tax reform, and valuation themes outperformed, while deep value themes lagged. Click here for more information.
The Tax Cut and Jobs Act changes capital expensing rules and its impact is expected to broadly impact everything from used equipment demand to companies’ reported cash tax rates. In this note, we drill down into the tax, accounting, and financial modeling impacts of the recent tax bill’s capital expensing changes.
We’ve received numerous incoming questions on the impact of the new tax law on capital spending. Interest should only increase in the weeks ahead, given that the president’s next economic priority appears to be infrastructure spending. In this note, we provide a summary of our capex forward indicators, initial thoughts on infrastructure, and an overview of longer-term subsector trends. We’ll be frequently revisiting this theme over the course of 2018 — stay tuned!
- 1 of 152
- next →