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Alerts
Leading lease-to-own retailer Aaron's, Inc. (AAN) has announced the separation of its branded stores and online portal from its fast-growing leasing partnership segment, Progressive Leasing. This is accompanied by a rejig of the post-Spin management teams, and is expected to close by the end of the year. Progressive was originally acquired in 2014 for $700m and has grown significantly, now accounting for $1.7bn in FY19 revenues (or 54% of total revenue).
05 August 2020
Alerts
We continue to see strong upside in satellite internet provider EchoStar Corp. (SATS) and increase our Model Portfolio holding accordingly. The company has seen increased network demand in this challenging time as more people are staying home due to either lockdown or working from home as a health precaution, and SATS is strategically poised to benefit from this ongoing environment.
05 August 2020
Alerts
We are increased our Model Portfolio holding on Trane Technologies Plc's (TT) recent Q2FY20 earnings, which came in above consensus estimates due to a substantial rise in Residential HVAC bookings. The stock has already given a +28% return since entering the MP and has surpassed our Base case target price since entering the Model Portfolio, and we continue to see long-term value for investors. For more, click here.
05 August 2020
Alerts
IAC/InterActiveCorp. (IAC) has completed the distribution of its 80.7% stake in Match Group, Inc. (MTCH) aftermarket on June 30, 2020, resulting in the boost to MTCH's free float (which precludes a potential inclusion on the S&P 500 Index) and the continued execution of IAC's "anti-conglomerate" philosophy when it comes to its investments. We're booking our strong profits in IAC and we recommend investors to continue to hold MTCH for long-term benefits.
02 July 2020
Alerts
We entered Synnex Corp. (SNX) on the back of insider buying and ahead of its upcoming Spinoff (expected Q4 2020) at the $87 level at the beginning of May 2020. Since then, following a strong earnings beat and a significant rally in a short two months, we are booking our pre-Spin profits of +36% in SNX, with a view to revisit the name once further clarity on the Spinoff is disclosed by the company.
02 July 2020
Alerts
In light of recent market movements and to rebalance the Catalyst Model Portfolio, we have increased on several high conviction names and reduced the weighting of the largest holding in a partial booking of profits. Please see inside the alert for the list of actions taken at the end of today's (June 29) VWAPs.
29 June 2020
Alerts
Alerts are now attached to the distribution emails for convenience. Synnex Corp. (SNX) released strong Q2FY20 earnings yesterday (June 25), beating estimates and providing impressive guidance for next quarter. Since our recommendation on May 1, 2020, on the back of a key insider buying pattern, the stock has returned +19% (vs. the S&P Index's +9% in the same period), and we believe several key factors provide further upside ahead of its planned Q4 2020 Spinoff.
26 June 2020
Alerts
In order to most effectively communicate our highest conviction ideas to clients and maximize overall performance, we have combined the positions of the Spinoff and Special Situations Model Portfolios, creating the newly unified Catalyst Portfolio. We are also exiting a series of names, details on the full article.
04 June 2020
Alerts
We see strong upside in satellite internet provider EchoStar Corp. (SATS) as the company sees its network demand increased in this challenging time. As more people are staying home due to either lockdown or working from home as a health precaution, the need for reliable data connection is made apparent and SATS' services are seen as critical to sustain the current working environment.
15 May 2020
Alerts
In its first earnings since the merger between United Technologies Corp. (UTX) and Raytheon Co. (RTN) and the dual Spinoff of Carrier Global Corp. (CARR) and Otis Worldwide Corp. (OTIS) in April 2020, new Parent Raytheon Technologies Corp. (RTX) proves its defense operations maintain their resilience in the ongoing pandemic environment. The recovery in the commercial aviation market will take a couple years to occur, but current levels provide an entry opportunity in RTX.
15 May 2020