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Recent Articles
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Booking Holdings’ Fourth Quarter Results Impacted By War in Middle East But Free Cash Flow Margins Remain Robust
Feb 23, 2024
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Image: Booking Holdings continues to put up robust free cash flow margins.
Booking Holdings is one of our favorite ideas, and we view shares as attractively valued on the basis of our point fair value estimate and quite attractive when considering the high end of our fair value estimate range. The pace of the company’s gross travel bookings and room nights booked continues to be robust, despite dislocations in its business associated with Israel, and the firm’s free cash flow generation continues to march in the right direction, with the company putting up fantastic free cash flow margins. We like Booking Holdings as an idea in the Best Ideas Newsletter portfolio, and we won’t be removing it anytime soon. Its new dividend implies a forward estimated dividend yield of ~0.96%.
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Dividend Increases/Decreases for the Week of February 23
Feb 23, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Market Darling Nvidia Delivers in Fiscal Fourth Quarter
Feb 21, 2024
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Image: Nvidia has been a market darling, and the company did not disappoint in its fourth-quarter fiscal 2024 report.
We like what we’re seeing at Nvidia these days, and what it implies for big cap tech and large cap growth, and we expect ongoing strength at the company. Competition from AMD and others is looming, but Nvidia continues to capture the lion’s share of AI investment at this time, and that will likely continue for some time yet. Speculative investors have made a bundle on Nvidia during the past 12-18 months, but we’ve been quite satisfied with the performance of Best Ideas Newsletter portfolio holding, the Technology Select Sector SPDR, which includes Nvidia as one of its top three holdings. Nvidia’s shares are showing strength after the quarterly report.
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Lithium Prices Remain Volatile; Albemarle Adjusts Long-term Demand Forecast
Feb 21, 2024
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Image: Albemarle’s shares have faced significant pressure as a result of depressed lithium prices.
Albemarle’s shares have been under significant pressure of late due to volatile lithium prices, and the firm’s cash flows have faced weakness as a result. Operating cash flow dropped to ~$1.325 billion in 2023 from ~$1.91 billion in 2022, as capital spending soared. Unless lithium prices start to better reflect the underlying demand profile ahead of it, Albemarle will likely be free cash flow negative in 2024 as well. Right now, Albemarle is facing a tough road ahead with its fundamentals largely tied to lithium prices, but the firm is positioned well for a potential lithium-price rebound. Regardless, we view Albemarle as a speculative stock and one only for the most aggressive, risk-seeking investors.
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