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Recent Articles
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Meta’s Threads Launch Immaterial to Meta But Tragic for Twitter
Jul 6, 2023
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Image: Threads logo. Meta has launched a Twitter-killer with its new real-time online conversation app, Threads.
Meta’s launch of Threads may not be too big of a needle-mover at Meta when it comes to new advertising dollar spending, but we like the incremental move toward creating an ecosystem of interconnected apps and properties. We think Twitter’s days are numbered, with the bird app already shedding a large percentage of its workforce just to keep the lights on. We might see a cage match between Musk and Zuckerberg after all.
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How Much More Will Consumers Pay for McCormick Spices?
Jul 4, 2023
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Image: Pricing growth remains the story at McCormick, but for how long? Image Source: McCormick.
Just how much further McCormick will push pricing initiatives remains to be seen, but we think investor caution is in order. The stock is already trading at 33x current fiscal year adjusted earnings, and its shares have yet to return to the peak levels reached during 2020. We wonder if there may be troubling times ahead. Our fair value estimate stands at $73 per share, well below where shares are currently trading.
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Nike’s Fourth-Quarter Fiscal 2023 Earnings Miss Not Tragic But Better Opportunities Elsewhere
Jul 4, 2023
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Image: Valuentum.
On June 29, Nike reported fourth-quarter fiscal 2023 results for the period ending May 31, 2023. During the quarter, revenue advanced 5% and 8% on a currency-neutral basis, but investors mostly focused on Nike’s bottom line, where diluted earnings per share fell 27%, to $0.66, missing the consensus estimate by a couple pennies. The firm expects material improvement in fiscal 2024, but we’re skeptical of just how much. We like better opportunities elsewhere.
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Tesla Registers Record Total Deliveries in Second Quarter 2023
Jul 4, 2023
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Source: Tesla.
We’ve liked Tesla’s share-price strength so far this year, and record total deliveries during the second quarter of 2023 help to continue to support its impressive share-price move. The high end of our fair value estimate range of Tesla stands at $335 per share, meaning shares of Tesla still have more room to run. The company remains one of the most speculative ways to play U.S. equities.
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