GILD

Gilead Sciences Releases Favorable Hepatitus C Data

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From Gilead Sciences (GILD) fourth-quarter earnings conference call: “The worldwide potential for all oral antiviral pan-genotypic HCV cure is sizable with over 12 million infected individuals in commercial markets alone. We are already in high gear preparing global launch plans that will bring GS-7977 expeditiously to patients around the world. Our established relationships with the hepatologist and gastroenterologist via Viread HPV, our knowledge of liver disease payers and policy makers and the exciting potential of leveraging our HIV resources to expand HCV-provided capacity is a galvanizing prospect. And I am confident the Gilead commercial organization will rise to the occasion… …As you know, results from the ELECTRON study were presented by Pharmasset at AASLD last October where GS-7977 and ribavirin for … Read more

Dividend Increases/Decreases for the Week February 5

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Below we provide a list of firms that raised their dividends during the week ending February 5. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week 3M (MMM): now $1.48 per share quarterly dividend, was $1.47. Activision Blizzard (ATVI): now $0.47 per share annual dividend, was $0.41. Advanced Energy (AEIS): now $0.10 per share quarterly dividend. Allegion (ALLE): now $0.36 per share quarterly dividend, was $0.32. ALLETE (ALE): now $0.63 per share quarterly dividend, was $0.6175. Amdocs (DOX): now $0.36 per share quarterly dividend, was $0.33. Apollo Global Management (APO): now $0.60 … Read more

Dividend Increases/Decreases for the Week of February 9

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Below we provide a list of firms that raised their dividends during the week ending February 9. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                          3M (MMM): now $1.51 per share quarterly dividend, was $1.50. Allegion (ALLE): now $0.48 per share quarterly dividend, was $0.45. AllianceBernstein (AB): now $0.77 per share quarterly dividend, was $0.65. Amdocs (DOX): now $0.479 per share quarterly dividend, was $0.435. Ameren (AEE): now $0.67 per share quarterly dividend, was $0.63. American Assets Trust (AAT): now $0.335 per share quarterly dividend, was $0.330. American Financial … Read more

Nelson: The 16 Most Important Steps To Understand The Stock Market

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A previous version of this article appeared on our website July 21, 2013. Refreshed and updated throughout, as of July 2018. By Brian Nelson, CFA After earning my MBA at the University of Chicago Booth School of Business and training stock and credit analysts from large organizations over the past decade or so, I have heard just about every question (though I admit I am still surprised by many things and remain a very humble student of the markets). I’ve also spent years perfecting the discounted cash flow process for large research organizations such as Morningstar and studied under one of the most famed aggressive growth investors of all time, Richard Driehaus. My knowledge runs the gamut from value through … Read more

5 Years Strong!

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Image Source: Andy Maguire By Brian Nelson, CFA This month was an important one for our investment research firm, Valuentum, and its flagship newsletter, the Best Ideas Newsletter. The June 2016 edition means that we have now surpassed the 5-year anniversary of the inception of this newsletter’s portfolio (page 8). This is a critical time horizon that we and many others believe is a good one to assess the quality of any money manager. Money managers can be lucky or unlucky over very short periods of time, as in the case of perhaps a 12-24 month period, but those that can generate and retain outperformance over a 5-year period and longer typically are doing a lot of things right, even … Read more

Dividend Increases/Decreases for the Week Ending February 10

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Below we provide a list of firms that raised/lowered their dividends during the week ending February 10. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week 3M Company (MMM): now $1.175 per share quarterly dividend, was $1.11. Alaska Air (ALK): now $0.30 per share quarterly dividend, was $0.275. Allstate (ALL): now $0.37 per share quarterly dividend, was $0.33. Archer Daniels Midland (ADM): now $0.32 per share quarterly dividend, was $0.30. Baldwin & Lyons (BWINA): now $0.27 per share quarterly dividend, was $0.26. Bank of Botetourt (BORT): now $0.14 per share quarterly dividend, … Read more

Top Research and Ideas You May Have Missed

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Is Quant Value Giving Intrinsic Value Investors a Bad Name? Surely, you don’t believe Warren Buffett’s “style” is out of favor? By Brian Nelson, CFA I need to make sure that you’re aware of something very important. The media and perhaps many investment professionals define the concept of “value” as companies with low price-to-book (P/B) ratios, and the concept of “growth” as companies with high price-to-book ratios. This definition of “value” and “growth” and their corresponding returns have been magnified in writings throughout the media and across quantitative research, even in prestigious journals. Warren Buffett has been rallying against most quantitative applications and how “growth” and “value” are defined in popular media and quantitative research for decades.  Here’s one of the Oracle’s most … Read more

The Best Years Are Ahead

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By Brian Nelson, CFA — The wind is at our backs. — The Federal Reserve, Treasury, and regulatory bodies of the U.S. may have no choice but to keep U.S. markets moving higher. The likelihood of the S&P 500 reaching 2,000 ever again seems remote, and I would not be surprised to see 5,000 on the S&P 500 before we see 2,500-3,000, if the latter may be in the cards. The S&P 500 is trading at ~4,100 at the time of this writing. — The high end of our fair value range on the S&P 500 remains just shy of 4,000, but I foresee a massive shift in long-term capital out of traditional bonds into equities this decade (and markets … Read more

Bristol-Myers: Now In Play?

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Image Source: Steve Davis Could activist investors force Bristol-Myers to break apart? Let’s walk through a potential scenario that could drive Bristol’s share price to new heights. Alexander J. Poulos We are pleased with the recent announcement of a $2 billion dollar accelerated share repurchase (ASR) program. In addition to the ASR, three new directors proposed by Jana Partners will be added to Bristol-Myers Squibb’s (BMY) board. The recent transactions by the famed activist investor have led many to believe the company is “in play” with a takeout potentially imminent. The article below will explore the potential along with our preferred solution. Oncology Franchise The crown jewel of Bristol’s product line-up remains Opdivo the programmed death receptor-1 (PD-1) blocking antibody … Read more