Latest Research

Manning & Napier: Undervalued, High Quality Asset Manager With 5.1% Dividend Yield

By Saibus Research - 7th August 2012

We entered into a long position in Manning & Napier, Inc (MN) towards the end of February 2012 because we were impressed with the results of the company from 2006-2011. Manning & Napier is a well-respected, fast-growing asset management boutique headquartered just outside of Rochester, NY. We previously discussed the atypical structure of this company in relation to other publicly traded asset managers and we believe that investors may overlook this company because of it. We believe that’s why its IPO did...

Read More

Revisiting Meredith Whitney’s Prediction Of Doom And Gloom For Municipals

By Saibus Research - 6th August 2012

We published a report last month analyzing the three California municipal bankruptcies that happened one after the other in a recent 30 day period. It made us hearken back to 2010 when Meredith Whitney went on 60 Minutes and in an interview with Steve Kroft, she predicted that “between fifty and a hundred counties, cities, and towns in the United States would have “significant” municipal bond defaults starting in 2011, totaling “hundreds of billions” of dollars in losses”. We thought that...

Read More

AT&T: Why It Is A Natural Dividend Paying, Share Repurchasing Cash Cow

By Saibus Research - 6th August 2012

We published our investment research analysis report on AT&T (T) last Friday night and were amazed as the level interest it generated. We were pleased as punch that it was well received and decided to expand our analysis further on AT&T’s dividend. The first thing we want to do is clear up some areas that we believe people may have misinterpreted based on our research. First thing, our top choice in the telecom sector is Sprint Nextel (S). We have been covering Sprint...

Read More

Altria: This Best-Of-Breed U.S. Tobacco Maker Sports A 4.6% Dividend Yield

By Saibus Research - 6th August 2012

We previously analyzed and evaluated our position in Altria Group, Inc. (MO) in June. Our thesis behind purchasing it back in 1999 was that the anti-smoking health fascists were engaging in legalized shakedown activities in order to further their rent-seeking agenda. Tobacco makers were selling a legal product that people wanted and we saw whatever “public healthcare costs associated with smoking illness that were borne by Medicaid/Medicare” were more than offset by the tobacco excise taxes paid by the tobacco companies. Furthermore, our thesis on what...

Read More

Coca-Cola: Have A Coke And A Smile, Or A Pepsi And A Frown

By Saibus Research - 6th August 2012

We previously analyzed Coca-Cola (KO) vs. PepsiCo (PEP) and concluded that the non-alcoholic beverage company that currently has the most positive performance momentum is Coca-Cola. We wrote a follow-up report on Coca-Cola and concluded that as good as its performance is, it is fairly valued. We see the same thing with Pepsi, and we believe that part of the reason why investors are piling in to the beverage makers is because of the dividend/share repurchase programs run by the companies. We...

Read More

Investment Ideas of the Week 8-6-12

By Saibus Research - 5th August 2012

Last week we had a ton of investment ideas, new and existing that we hold in our firm’s portfolio.  We also released a plethora of investment articles, commentary, and full reports. Here are the top 5 ideas of the week: Brookfield Infrastructure Partners (BIP)  We have held a long position in Brookfield Infrastructure Partners (BIP) since the beginning of 2011 and we have been pleased with the results of the company during this time. We published our research analysis report reaffirming...

Read More

Undervalued Industry Leaders With Above Average Relative Performance

By Saibus Research - 3rd August 2012

We were disappointed in the results that our portfolio companies State Street (STT) and BlackRock (BLK) registered during the quarter, especially in relation to The Bank of New York Mellon (BK) and Northern Trust (NTRS). However, we are seeing that BK and NTRS’s results were good only because the rest of the industry has done so poorly during this volatile market.  We analyzed the results of the asset managers who have reported since State Street and BlackRock reported.  We analyzed...

Read More

Wisdomtree’s 20% Plus Growth Rate Makes It A Wise Investment

By Saibus Research - 3rd August 2012

We have been impressed with the growth registered by Wisdomtree Investments (WETF) since we purchased shares in it last year. In an era where even blue chip asset management firms are struggling to generate positive organic growth, it is refreshing to see strong organic growth rates from a company that did not even exist in its current form less than seven years ago. Granted, Wisdomtree is operating in the Exchange Traded Fund sector and that is the fastest growing segment...

Read More

Whole Foods’ Growth And Liquidity Should Allow It To Pay A $7/Share Special Dividend

By Saibus Research - 3rd August 2012

We have held a long position in Whole Foods Market (WFM) since 1999. We dramatically increased our position in March 2001 when the company had suffered a 25% price decline in its stock in the wake of an earnings miss, concerns over its valuation and as the company was restructuring due to poor “di-worse-ification” investments (Wholepeople.com, Amrion etc.). Our investment in Whole Foods performed very well from 2001-2005. We saw significant headwinds from 2006-2008 when Whole Foods was dealing with...

Read More

Undervalued Industry Leaders With Above Average Relative Performance

By Saibus Research - 3rd August 2012

We were disappointed in the results that our portfolio companies State Street (STT) and BlackRock (BLK) registered during the quarter, especially in relation to The Bank of New York Mellon (BK) and Northern Trust (NTRS). However, we are seeing that BK and NTRS’s results were good only because the rest of the industry has done so poorly during this volatile market.  We analyzed the results of the asset managers who have reported since State Street and BlackRock reported.  We analyzed...

Read More

Frontier Pays Nearly 10% Dividend Yield, But We Prefer CenturyLink Instead

By Saibus Research - 3rd August 2012

We previously analyzed CenturyLink, Inc. (CTL) versus Frontier Communications Corporation (FTR) and Windstream Corporation (WIN), two other rural telecommunications firms and we concluded that CenturyLink offered the best risk-reward scenario of the three rural telecoms. We followed up our first research report with another report that researched and analyzed CenturyLink’s steady business performance, strong generation of free cash flows and growth potential from Savvis. In this report, we will focus primarily on Frontier. Frontier is typically the first rural telecom company to report quarterly earnings and it continued to...

Read More

Supervalu Versus RadioShack: A Comparison Of Struggling Retailers

By Saibus Research - 2nd August 2012

We are certainly disappointed in the recent stock performance of Supervalu Inc. (SVU) since it released its challenging first-quarter results. We are shocked as to the reversal of fortunes that Supervalu endured with regards to its sales momentum. We were not expecting 5%-10% organic growth from the company, not by any stretch of the imagination. We were expecting Supervalu’s identical sales to reduce its decline in FY 2013 and stabilize in FY 2014. We were also expecting Supervalu to continue to rationalize...

Read More

Visa Shrugs Off UBS’s Sell Recommendation And Keeps On Growing

By Saibus Research - 2nd August 2012

We have been long Visa (V) since last year. While we believe that the easy money has been made with this company, we have to take serious issue with UBS slapping a sell recommendation on Visa and MasterCard (MA) on July 9. We were especially shocked that UBS not only reduced its ratings from Neutral to Sell, but that it cut its price targets on Visa and MasterCard from $127 to $113 for Visa and from $457 to $403. We...

Read More

Brookfield Infrastructure: 4.4% Dividend Yield And Unique, High-Quality Infrastructure Assets

By Saibus Research - 2nd August 2012

We have held a long position in Brookfield Infrastructure Partners (BIP) since the beginning of 2011 and we have been pleased with the results of the company during this time. We published our research analysis report reaffirming our thesis behind our investment in BIP two months ago. On July 30th after the market closed, BIP announced a US$445M secondary equity offering consisting of the issuance of 9,680,000 L.P. units in the U.S. and Canada and the concurrent private placement of 3,860,000 redeemable...

Read More

Boeing Is Poised To Soar Above Its Competition

By Saibus Research - 2nd August 2012

We previously analyzed and evaluated The Boeing Company (BA) versus EADS (EADSY.PK) and we concluded that despite Boeing’s recent troubles with the Dreamliner, we would prefer to invest in Boeing due to its superior profit generation versus EADS. While Boeing will be seeing headwinds to growth in its Defense, Space and Security unit due to the military budget sequestrations associated with the “fiscal cliff“, we believe that it is much better positioned for growth than Lockheed Martin (LMT) or Northrop Grumman...

Read More

Student Transportation Inc: Here’s Why We Raised OUR Fair Value From $2/Share To $4/Share

By Saibus Research - 1st August 2012

On July 26th, Prescience Investment Group released its research report warning of a potential 70% drop in the price of Student Transportation’s (STB) shares.  As we had released our two part research report series (Part I and Part II) earlier this year expressing a similar evaluation of the company, we certainly took notice of what that firm wrote.  While we still find it to be overvalued, we did raise our fair value estimate from $2.23 per share to $4.11 per share in two steps after our...

Read More

BlackRock: An Undervalued, Industry-Leading Asset Manager To Pick Up

By Saibus Research - 1st August 2012

We published our research report on BlackRock, Inc. (BLK) back in May, around the time that the company bought back $1B worth of stock from Barclays PLC (BCS) when Barclays decided to sell off its 19.6% stake in BlackRock. Two days later, Ignites Europe (Financial Times‘ subscription-only subsidiary that covers the asset management industry) cited our research in an article on BlackRock’s $1B stock buyback. We followed that up with a report comparing BlackRock’s “Investing for a New World” Campaign is a more practical and useful investment marketing message than the wonky technocratic...

Read More

Citigroup: Fed Should Let Citi Increase Dividend And Buy Back Stock

By Saibus Research - 1st August 2012

We previously analyzed and reported on Citi’s results during the first half of the year and we were pleased to see the company’s progress towards stabilizing its results, improving its credit book and competing against its peers. In Q2, we were especially pleased as to how Citi’s business units were gaining ground on the once fortress-like financial institution J.P. Morgan Chase (JPM). Citi’s Institutional Client’s Group even saw profit growth during the quarter whereas Wells Fargo’s (WFC) comparable unit (Wholesale Banking)...

Read More

Ford Motor Company Still Moving Forward, Despite Macroeconomic Headwinds

By Saibus Research - 1st August 2012

We previously wrote a five-part research analysis report seriesarticulating our thesis as to why we disagree with Berkshire Hathaway with regards to investing in Ford Motor Company (F) versus General Motors Company (GM). Our fifth installment analyzed and evaluated the international operations of Ford and General Motors after Ford pre-announced that its International Operations would see losses that were triple the losses incurred in Q1 2012. The cause of this increased loss was primarily due to the European economic crisis. We were glad to see that Ford...

Read More

SuperValu: Meet The New Boss Mr. Sales

By Saibus Research - 31st July 2012

We noticed that SUPERVALU (SVU) has fired its CEO and President Craig Herkert and replaced him with its Non-Executive Chairman of the Board Wayne Sales during the morning of July 30th. Since SUPERVALU has seen its sales momentum regress over the last 5 months, we believe that replacing Craig Herkert with Mr. Sales seems apropos in this situation. We saw that the market reacted positively to this news as trading volumes for July 30th were nearly 35% above its average...

Read More

Nokia’s Muddling In Mediocrity

By Saibus Research - 31st July 2012

We previously published our investment research report analyzing Nokia Corporation‘s (NOK) struggles. Due to the interest that report generated, we followed it up by researching, analyzing and evaluating Nokia’s turnaround efforts versus Sprint Nextel Corporation (S) and we concluded that Sprint is further along in its restructuring process than Nokia. We then analyzed and evaluated Nokia’s recent price cut for the Lumia 900 and we were pleased that Nokia cut the price of its new smartphone. Nokia had developed the Lumia smartphone product line in conjunction with Microsoft (MSFT)...

Read More

Sprint’s Long-Term Corporate Evolution

By Saibus Research - 31st July 2012

Sprint Nextel Corporation (S) is continuing its long-term evolution as a telecom company. Sprint’s progress in overcoming the strategic and operational mishaps of the Nextel merger have impressed us so much that we added to our position last month. We were blown away with the fact that revenue growth on the Sprint platform (excluding Nextel run-off) was 16% for the second straight quarter, far exceeding the collective growth of Verizon Communications (VZ) and AT&T (T). Moreover, Sprint Nextel’s wireless platform (including Nextel run-off) grew by...

Read More

Check Point Software Technologies: 9% Revenue Growth in the Face of the Eurozone Crisis

By Saibus Research - 31st July 2012

We entered into a long position in Check Point Software Technologies (CHKP) after it reported its Q1 EPS because we were shocked at the price drop that resulted from its report.  We felt that the market overreacted to by dragging the company’s stock price to $45 before the company released its Q2 results.  We were pleased to see that Check Point had reported results that were at the high end of management’s revised guidance and more importantly its Q3 guidance...

Read More

Investment Ideas of the Week 7-30-12

By Saibus Research - 30th July 2012

Last week we released two new reports, one on State Street and the other on Check Point Software, both after their earnings. We keep both in our portfolio and we added to our State Street position as we think it is undervalued and a good defensive financial play.  Other reports last week included one on MREITS which are still continuing strong and a full plate of articles on the Telecoms. See below for links. Wisconsin Energy Corporation (WEC) Last month, we analyzed and evaluated Exelon Corporation (EXC)...

Read More

Apple: Our Fair And Balanced Analysis Of Apple’s Performance

By Saibus Research - 30th July 2012

All of Apple’s (AAPL) detractors let out a loud, collective cheer when the company reported results that missed consensus expectations. While we did not publish a Q3 2012 estimate for Apple, we were more than content with the $8.68 EPS estimate provided by Apple’s management. We were satisfied with this estimate because Apple’s management guidance called for a 11.4% increase in its EPS during the quarter and the company generated 19.65%. Apple reported quarterly revenue of $35B and quarterly profit...

Read More

Page 14 of 20« First...10121314151620...Last »