Sprint Nextel’s Steady Forward Progress
On April 25, 2012, Sprint Nextel (S) reported results that exceeded everyone’s expectations, including our own. We have seen a number of green shoots that we were looking at in order...
Read MoreCullen/Frost Bankers: Banking On Strong Credit Quality, Part 2
This is part two of a series of reports on Cullen/Frost Bankers (CFR). In this report, we will focus on the keys to investment thesis, risks, and industry outlook....
Read MoreApple’s Delicious Quarterly Results
On April 24, 2012, Apple (AAPL) reported results that blew past everyone’s expectations, including our expectations. Apple reported quarterly revenue of $39.2B and quarterly profit of $11.6B, or $12.30 EPS....
Read MorePenn Virginia: Investor Patience Will Pay Dividends
Penn Virginia Corporation (PVA) is a company in transition. Primarily a driller of dry gas prior to 2010, it has begun a campaign to switch to liquids that has...
Read MoreCullen/Frost Bankers: Banking On Strong Credit Quality, Part 1
This is part one of a series of reports on Cullen/Frost Bankers (CFR). In this report, we will focus on the recommendation, overview, and valuation analysis of the company....
Read MoreState Street: Q1 Results Mixed, Still Bullish
After seeing State Street Corporation’s (STT) Q1 Earnings Release and that the company missed expectations due to expense growth significantly exceeding revenue growth on a year-over-year basis, we were reminded...
Read MoreCenturyLink: Link Up To This High-Yielding Rural Telecom
We recently reviewed CenturyLink (CTL) versus Frontier Communications Corporation (FTR) andWindstream Corporation (WIN), two other leading rural telecommunications firms and we believe that CenturyLink offers the best risk-reward scenario of the three...
Read MoreGreen Shoots From Citigroup’s Q1 Results
We saw some green shoots out of Citigroup (C) as it released its Q1 earnings results. Here are a number of factors that we were looking to see improvements on...
Read MoreState Street Global Advisors: Mend It, Don’t End It
There have been calls for State Street Corporation (STT) to spin-off State Street Global Advisors (SSgA) to shareholders or sell it. The rationale was that a spin-off would create two...
Read MoreProgress Report: CenturyLink Inc
We’ve released our new progress report on CenturyLink Inc (CTL). Included is our analysis of the Q4 conference call as well as commentary on its valuation, fundamentals, and outlook. CentryLink’s 2011...
Read MoreUpdate: Virtus AUM Growth
Virtus Investment Partners (VRTS) grew AUM faster from Organic Client Deposit Growth (10%) than Market Appreciation (8%). Regardless, we feel 18% Linked-Quarter AUM growth is great and certainly...
Read MoreFull Report: Virtus Investment Partners
This is part of a series of reports on Virtus Investment Partners (VRTS). The parts will cover: Recommendation and Overview, Valuation Analysis, and Key Points, Risks and Outlook. We...
Read MoreState Street: Our Fair Value Increase Validated
Three weeks ago, as we expected, State Street Corporation (STT) passed the Federal Reserve Stress Tests, along with 14 other banks, including direct peers Bank of New York Mellon (BK)...
Read MoreProgress Report: Virtus Investment Partners
We have been impressed with the performance of Virtus Investment Partners (VRTS) since we first purchased shares back in May and their Q4 performance shows that the company is continuing...
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