Seeking Alpha
  • ARI Network Services: Deep Discount For Market Leader With Expanding Market Opportunity, Build-And-Sell Management Team
    PRO Top Idea ARIS Today, 5:00 AM ACM Research Team Comment!

    Summary

    • ARI generates 90% recurring revenue at 80% gross margin, and recently expanded its addressable market considerably.
    • The company is a leader in its niche, and its products are tightly integrated into customer workflows, resulting in high barriers to entry.
    • It is run by a skilled management team, with incentives aligned with shareholders, and a history of value creation.
    • ARI trades at a fraction of comparable multiples, due to several transient factors that we expect will dissipate in the coming quarters.
  • Sizmek: Immediate Catalysts Lurking
    PRO Top Idea SZMK Today, 5:00 AM Sabra Capital Partners 1 Comment

    Summary

    • We believe the company’s earnings report on February 19th will be the first of several catalysts to reignite interest in the stock.
    • We conservatively forecast 14% EBITDA growth in 2015 and believe investors will reward the company with significant multiple expansion on improved operating results and favorable repurchase activity.
    • We believe the company will aggressively implement its recent $15mm share repurchase program with follow-on programs throughout 2015.
    • Assuming a multiple in-line with the ad-tech space at 10x EBITDA, Sizmek could reach $12.00 per share. If the company is successful in aggressively repurchasing shares at these levels, the upside could be even more pronounced.
  • Vectrus: Incentives And Black Swans Make A Compelling Long
    PRO Top Idea VEC Today, 5:00 AM Dane Capital Management, LLC 4 Comments

    Summary

    • Vectrus was a recent ugly duckling spin-off that is quickly morphing into a lovely swan and a compelling investment.
    • Traditional spin dynamics provided motivation for management to undersell the story day 1. Prospects are much better than advertised.
    • Vectrus trades at less than 9x adjusted-EPS, substantially below peers, and has a ~10% FCF yield. Vectrus is a single large project win away from being a solid growth story.
    • A black swan event – ISIS, Ukraine/Russia crisis, etc., could enlarge the opportunity set, and provide a natural hedge to a market correction.
    • We see 50% upside over the next 12 months to $42 per shares based on modest top-line growth in 2H15 and multiple expansion to the low end of peers.
  • Pointer Telocation: Spin Crystallizes Dramatically Undervalued MRM Play
    Editors' Pick PNTR Today, 4:55 AM Dane Capital Management, LLC 3 Comments

    Summary

    • We believe Pointer Telocation will trade at $12-$16 by year-end, 40-90% upside from current prices.
    • Pointer's recently announced spin unlocks significant value, however the market has yet to take notice.
    • Pointer has a substantial margin of safety trading at 6x forward EBITDA, with a ~10%+ FCF yield in a rapidly growing (and consolidating) industry.
    • We believe that as 2015 unfolds, accelerating y/y comps, margin expansion, strong profitability and potential research coverage will increase the stock's visibility with investors.
  • Update: True Gold Provides Progress Report On Karma
    RVREF Today, 2:13 AM Elephant Analytics Comment!

    Summary

    • True Gold Mining provided a progress report on its efforts to resume full construction at Karma.
    • I was waiting to see how it would address the situation, and it appears they have taken positive steps including re-establishing the Community Liaison Committee.
    • This should help reduce the risk of rumors and misinformation going around unchecked and increase the chance that True Gold can react to developing situations in a timely manner.
    • Although project risks remain, True Gold's market capitalization appears to be less than the post-tax cash flow that it can generate in its first year of production.
  • Update: True Gold Gives A Positive Progress Update At Karma Project
    RVREF Today, 12:48 AM Hard Asset Investments 1 Comment

    Summary

    • True Gold Mining has provided a progress report that outlines efforts to resume full construction operations at its Karma Project, after suspending operations due to a local demonstration.
    • A community liasion committee will meet with local community members in order to facilitate a return to work and resume construction.
    • True Gold will limit capital expenditures while the situation is worked out and is finalizing a plan that will enable an efficient restart of operations at the mine.
    • I think it's positive news and while risks and uncertainty remain, the stock is very cheap currently.
  • Coach: Go Home Mr. Market, You're Drunk
    COH Yesterday, 11:36 PM Josh Arnold 6 Comments

    Summary

    • COH has reported yet another unspeakably horrible quarter but the stock traded up seven percent on the news.
    • Nothing has changed as the fundamentals are still terrible with eye-popping declines in sales.
    • I still think COH is worth ~$22 or so and that whatever the reason for this pop after earnings, the bubble will pop at some point.
  • CNH Industrial: Short-Term Uncertainties Are Dragging The Company Down
    CNHI Yesterday, 11:33 PM Diesel Comment!

    Summary

    • CNH Industrial announced weak results and guidance but this was already expected.
    • The company's agriculture segment suffered from low commodity prices and weak currencies in certain developing countries.
    • The commodity market can't stay weak forever and is already showing some early signs of improvement.
    • CNHI might also be a good bet against the Euro currency.
  • Update: Torex Gold Updates Capex Guidance
    TORXF Yesterday, 9:37 PM The Investment Doctor Comment!

    Summary

    • Torex Gold adds $75M to its expected capex, but remains fully funded.
    • I'm positively surprised the addition of the North Nose zone compensates for the capex overrun.
    • Torex Gold remains one of the best development-stage companies out there, with semi-blue sky exploration potential.
  • Gentex - Appeal Continues, Despite A Softer Quarter
    GNTX Yesterday, 9:09 PM The Value Investor Comment!

    Summary

    • Gentex reports soft results, with sales hurt by the strong dollar and inventory de-stocking.
    • 2015 will see solid growth, although analysts have hoped for more.
    • The strong product portfolio, continued growth, strong balance sheet and fair valuation all drive appeal.
  • Varian Medical - Great Growth Prospects At A Fair Price
    VAR Yesterday, 8:34 PM The Value Investor Comment!

    Summary

    • Varian Medical reports solid results and maintains its outlook, despite severe currency headwinds.
    • This just shows that the business is performing very well on an operational basis.
    • The company operates well in long-term growing markets, which, combined with a relatively contained valuation, offers appeal.
    • Promising proton therapy developments can only provide long-term icing on the cake.
  • Why AIG Is A Buy Right Now
    AIG Yesterday, 8:23 PM Quantified Alpha 3 Comments

    Summary

    • The company's restructuring efforts have been largely successful since the financial collapse, and the company has long since paid off the government debt from the bailout (with interest).
    • AIG offers tremendous value to investors on a revenue, earnings, book value, and free cash flow basis. It's rare to find such value in a stock making money and growing.
    • Short interest on AIG is extremely small, and company insiders in the insurance industry have been buying back their stock at a high rate.
    • Future interest rate raises will provide an additional tailwind to AIG, which seems more and more likely as the US economy grows stronger.
    • We rate AIG as a "BUY", and expect the stock to outperform in 2015. AIG releases earnings on February 12th.
  • ConocoPhillips: Key Takeaways From Guidance
    COP Yesterday, 7:43 PM Stone Fox Capital 2 Comments

    Summary

    • ConocoPhillips reported Q414 earnings that generally beat analyst expectations.
    • Another capital spending cut isn't having an impact to production growth in 2015.
    • Even based on more normalized earnings, the stock has questionable value at current levels .
  • Insiders Can't Get Enough Of Greystone Logistics
    Editors' Pick GLGI Yesterday, 7:12 PM Firebird Investments 1 Comment

    Summary

    • The stock is witnessing heavy insider buying.
    • Greystone has a $3M new customer.
    • The company has created a beverage pallet mold specifically for a major beer distributor.
    • Greystone has created a slim keg mold at MillerCoors' request.
    • MillerCoors' 2015 sales will be similar to 2014.
  • Digi International Has A Potential To Be Stronger In M2M And SaaS
    DGII Yesterday, 6:46 PM Martin Vlcek Comment!

    Summary

    • The new CEO brings an excellent track record, sharp focus and expertise in telematics and SaaS, which could unlock significant growth potential in the long run.
    • The overall M2M and SaaS markets offer growth potential of more than 20% annually while Digi has barely grown revenues in the past years, so there is a big gap.
    • In the next several quarters, focus will be on simplification, restructuring, refocusing on core activities, improving profitability and buying back shares.
    • Later in 2015 and 2016, Digi should focus on unlocking full growth potential and also probably on acquisitions, utilizing its cash pile worth more than 40% of market cap.
    • Valuation reveals there is still a solid 15% upside potential within 12 months despite the 30% rally off the December lows following the new CEO announcement.
  • Peregrine Diamonds Shares Jump 50% On Positive Resource Update
    PGDIF Yesterday, 6:30 PM Christopher De Sousa Comment!

    Summary

    • Peregrine Diamonds increases inferred resource at the flagship CH-6 kimberlite by 15%.
    • A new 2015 bulk sample program is in preparation to formulate the basis for a PEA study in 2016.
    • Investment interest in the stock has regained momentum, with shares jumping nearly 50% in value.
  • Will Molycorp Be Delisted?
    MCP Yesterday, 6:24 PM Shock Exchange 6 Comments

    Summary

    • Molycorp recently received an NYSE notice that the stock could be delisted after trading below $1 for 30 consecutive days.
    • With consistent cash burn and operating losses, I do not see any near term catalysts to drive the stock back above $1 for an extended period.
    • Investors should avoid MCP as an NYSE delisting appears imminent.
  • ModernGraham Quarterly Valuation Of Allstate Corporation
    ALL Yesterday, 6:04 PM Benjamin Clark Comment!

    Summary

    • Allstate is suitable for the Enterprising Investor following the ModernGraham approach.
    • According to the ModernGraham valuation model, the company is undervalued at the present time.
    • The market is implying 3.94% earnings growth over the next 7-10 years, which is significantly less than the rate the company has seen in recent years.
  • Alcoa To Benefit As Aluminum Demand Set To Double
    AA Yesterday, 5:40 PM Ryan Edward 1 Comment

    Summary

    • Combined costs related to complying with increasingly strict fuel economy standards amounts to ~$100b, greater than the auto industry’s 2014 EBIT.
    • One of the main sources of added costs is derived from shifts in primary materials used for construction of the vehicle.
    • Historically, steel has been the dominant material used to build automobiles, estimated at ~45% of a typical vehicles weight according to the DOE.
    • By 2025, aluminum usage is set to double as it replaces steel as a major input.
    • Alcoa currently supplies a majority of major OEM's with aluminum auto sheet and are currently in talks with 100% OEM's in regards to future introductions.
  • First Quantum Minerals Has Been Spit Out By The Market - Is It Time To Be A Contrarian And Buy?
    FQVLF Yesterday, 5:36 PM The Investment Doctor Comment!

    Summary

    • First Quantum got beaten up by the market and it doesn't look like the company will be FCF positive at the current copper price.
    • I expect the progress at Cobre Panama to slow down and wouldn't be surprised to see the project shelved i the copper price doesn't recover.
    • I'm on the sidelines for now, but if you're a copper bull, First Quantum deserves to be a part of your portfolio.
  • Why Toymakers Are Leaving Mattel In The Dust
    MAT Yesterday, 5:32 PM Leigh Drogen 7 Comments

    Summary

    • Mattel CEO Bryan Stockton went down with the ship Monday resigning as the toy company pre-announced its abysmal holiday quarter results.
    • Earnings sank 51% from $1.07 per share to 52 cents and revenue slid from $2.11 billion to $1.99 billion.
    • In September Mattel lost its #1 toymaker status to competitor Lego.
  • Why Cirrus Logic Dropped Over 5% Following A Blowout Quarter
    CRUS Yesterday, 5:31 PM Hugo A. St. John III 1 Comment

    Summary

    • Cirrus Logic beat analyst EPS estimates by nearly 30%, yet the day after reporting earnings, it ended down over 5% on the day.
    • This down day also followed a yoy revenue increase of roughly 36%, coupled with stronger than anticipated guidance for the upcoming quarter.
    • Unpacking Cirrus Logic's 10-Q unearths an alternate story behind this massive quarter, tempering the euphoria and perhaps inducing a strong wave of profit-taking following the run-up to earnings being released.
  • Why We Are Revising Our Price Estimate For Netflix
    NFLX Yesterday, 5:27 PM Trefis 5 Comments

    Summary

    • Netflix overcame the disappointing third quarter results and its international operations continue to strengthen.
    • Netflix’s international expansion could have a significant impact on both its subscriber additions as well as contribution margins.
    • We are revising our price estimate for Netflix to $376 based on the following analysis.
  • Ashmore Group: Potential Victim Of The Next Emerging Market Crisis
    AJMPF Yesterday, 4:48 PM Value Vista UK Comment!

    Summary

    • In the last quarter, Ashmore's AUM fell 10% as the sell-off in emerging markets continued.
    • The fundamental weakness of emerging market debt and Ashmore's unstable asset base suggest further share price declines are likely.
    • 250p is likely given the 10% decline in AUM at the last quarter, 200p is a possible target if declines continue.
  • TubeMogul: Why This Stock Will Go Down The Tubes
    TUBE Yesterday, 4:24 PM The Street Sweeper 7 Comments

    Summary

    • TUBE’s capture of Oreo-maker Mondoleze helped fuel its successful IPO. However, despite the CEO’s reassurances, Google has secured much of TUBE’s business with that customer.
    • Google’s gain may signify the beginning of TUBE’s customer base erosion.
    • Almost as soon as the 180-day post-IPO lockup expired, TUBE's CFO began selling thousands of shares. This suggests a lack of confidence; opens floodgates for more selling.
    • TUBE is extremely expensive as it tries to navigate in a field of nearly 200 competitors, including many well-heeled, proven household names.
    • TUBE is not only expensive for potential investors, its price is so high it will repel any potential buyers.
  • Update: Bear Creek's Santa Ana Arbitration Schedule Published
    BCEKF Yesterday, 4:22 PM Hebba Investments 1 Comment

    Summary

    • The ICSID's arbitration schedule for the resolution of the Santa Ana case has been publicly published.
    • It looks like if arbitration goes the full schedule that it will be a bit longer than we have expected.
    • The company is making progress in the case and we still expect that it will be settled.
    • The ICSID has previously awarded large damage awards to claimants who have had rights violated, thus that is a positive for the company as it has a strong case.
  • Indivior PLC: An Undervalued Spin-Off With Room For Growth
    INVVY Yesterday, 4:08 PM Rupert Hargreaves Comment!

    Summary

    • Indivior has been spun-off at a depressed valuation.
    • The company is highly cash generative and has several new products under development.
    • Sales are falling but a low valuation, strong cash generation and strong pipeline are all reasons to buy.
  • The 2015 Calendar Of NASH Trial Catalysts: Intercept's Breakthrough Designation Hastens Decision Process
    ICPT Yesterday, 3:34 PM Clinically Sound Investor 7 Comments

    Summary

    • BTD for Intercept's first-in-class FXR agonist obeticholic acid (OCA) caused a spike in shares.
    • BTD shows FDA's confidence in the evidence for OCA's benefit in NASH.
    • More frequent accessibility to FDA ensures approval if the FDA sanctions the pivotal Phase 3 design and the agreed-upon primary endpoint is met.
  • Union Pacific Will Do Fine Regardless Of Oil Prices
    UNP Yesterday, 3:17 PM Sean Weston 6 Comments

    Summary

    • Lower fuel costs help make the railroad less expensive to operate; higher fuel costs are offset by Union Pacific's extensive fuel surcharge program.
    • Lower fuel costs will be a headwind for the roughly 5% of total volume which is directly exposed to oil prices.
    • Increased consumer spending due to having increased discretionary income should more than make up the difference.
  • MercadoLibre Remains A Hold Until Currency Pressures Stabilize
    MELI Yesterday, 3:12 PM Eric Przybylski Comment!

    Summary

    • MELI possesses a broad company focus, vertically integrating and expanding horizontally.
    • MELI's fundamental operating metrics are all very strong and being clouded by an uncertain currency exchange environment.
    • The currency uncertainties are real, and necessitate a high discount rate that makes MELI a "hold".
  • Update: TNP's Chief Executive Reaffirms Tanker Market Strength; Dividend Increased
    TNP Yesterday, 2:57 PM Daniel Carlson 2 Comments

    Summary

    • Tsakos dividend increases 20%...forward yield of 3.5%.
    • Market fundamentals remain robust for tankers.
    • Expect a positive earnings report and guidance on March 15th.
  • Update: Goldcorp Continues To Be Politically Savvy
    GG Yesterday, 2:48 PM Christopher F. Davis 8 Comments

    Summary

    • Goldcorp has announced that it has signed its sixth partnership with the First Nations in Canada.
    • This move fits into my recent thesis outlining what Goldcorp is really up to.
    • This is very bullish as I describe in paragraph three of the article.
  • Lockheed Martin: Prospects Remain Bright Despite Mixed Quarter 4 Results
    LMT Yesterday, 2:47 PM Simple Investment Ideas 1 Comment

    Summary

    • Lockheed Martin reported lukewarm quarter 4 results, beating revenue estimates while lowering guidance.
    • Regardless of Lockheed Martin's mixed quarterly results, the company is moving in the right direction with its focus on expansion and innovation.
    • While the Pentagon's massive trillion dollar defense spending cut has put a damper on the company's near-term prospects, Lockheed Martin has positioned itself well to make up for lost revenue.
    • Regardless of Lockheed Martin's tepid fourth quarter, the company remains a standout in the defense contractor/advanced technologies industry.
  • ModernGraham Annual Valuation Of Time Warner Inc.
    TWX Yesterday, 2:30 PM Benjamin Clark 1 Comment

    Summary

    • TWX is not suitable for Defensive Investors or Enterprising Investors following the ModernGraham approach.
    • According to the ModernGraham valuation model, the company is undervalued at the present time.
    • The market is implying only 7.1% earnings growth over the next 7-10 years, considerably lower than the rate the company has seen in recent years.
  • Update: Claude Resources Appoints Patrick Downey To Its Board
    CLGRF Yesterday, 2:30 PM Ben Kramer-Miller Comment!

    Summary

    • Claude Resources made a critical appointment to its board in mining veteran Patrick Downey.
    • This is an unexpected positive development.
    • Investors should be encouraged by this news, and Claude Resources appears to be a good way to play a rebound in the gold price.
  • Under Armour's 18th Consecutive Lucrative Quarter
    Yesterday, 2:27 PM Javelin Comment!

    Summary

    • Lately, Under Armour (UA) has been improving its performance continuously. The company has managed to come a long way since it became a public company in 2005.
    • At the end of the third quarter of 2014, the company managed to report its 18th consecutive quarter of an increase over 20% in top line growth.
    • The company can be seen to be following the same strategy that Nike followed which led it the company becoming such a huge name in the world of sports.
    • 2013, it purchased the app MapMyFitness for roughly $150 million. Recently, it has announced that it will be launching another Fitness Tracking app.
    • These initiatives on the company’s part reveal that it has understood the changing market trends and conditions and that it plans on increasing its popularity in the long run.
  • AT&T Spends Above Expectation In AWS-3 Spectrum Auction
    T Yesterday, 2:14 PM AH Research 4 Comments

    Summary

    • T has spent $18.2 billion on the spectrum auction in comparison to my estimates of $6.3 billion.
    • Winning bid for AWS-3 spectrum auctions is $44.899 billion.
    • T has arranged for credit of $11 billion.
    • Spectrum will play key role in company’s future growth.
  • FXCM's 'Poison Pill' Is Just Another Empty News Release
    FXCM Yesterday, 2:09 PM Edward Vranic, CFA 15 Comments

    Summary

    • FXCM announced a Stockholder Rights Plan.
    • Regardless of the plan, the arrangement with Leucadia with respect to timing and dispersal of sale proceeds remain unchanged.
    • The plan is meaningless because no company will purchase FXCM on the open market when it can work out a deal directly with Leucadia and pay a much cheaper price.
  • Comparing America's 3 Largest Security Software & Services Companies
    BRC, MANT, SYMC Yesterday, 2:07 PM Joseph Cafariello Comment!

    Summary

    • The Security Software & Services industry is expected to outperform the S&P broader market substantially this quarter, underperform negligibly next quarter, then outperform significantly beyond.
    • Mean and high targets for the 3 largest U.S. Security Software & Services companies – Symantec, Brady Corp, ManTech International - range from 3% below to 24% above current prices.
    • Find out which among Symantec, Brady and ManTech offers the best stock performance and investment value.
  • Valero Energy Is Ready To Refine Light Sweet Oil
    VLO Yesterday, 2:02 PM Callum Turcan 5 Comments

    Summary

    • Valero Energy is capitalizing on the American shale revolution by expanding its capacity to refine light sweet crude.
    • Recently, Valero started sourcing an additional ~45 Mbpd of oil at Midland prices versus Cushing priced crude.
    • Three of Valero's current projects will boost its ability to process light oil and will raise its overall refining capacity.
    • Being able to process light sweet crude allows Valero to purchase "price-advantaged" crude from shale plays across America, which substantially enhances its margins.
  • Kinder Morgan Is Primed For Acquisitions In 2016
    KMI Yesterday, 1:59 PM Clayton Rulli 11 Comments

    Summary

    • KMI's new structure is designed for lower cost of capital, priming the company for acquisitions.
    • The backlog schedule for 2016 is weaker vs. the average, thus KMI will probably be on the prowl for acquisition opportunities.
    • Considering ample excess dividend coverage even in a low-priced commodity and increased interest rate environment, KMI will be able to take aim at stressed assets despite headwinds.
  • Shares Of Keurig Green Mountain Break Through Key Levels
    GMCR Yesterday, 1:39 PM Seth Golden 1 Comment

    Summary

    • Key concerns pointed toward breakdown of share price.
    • Numerous analysts have talked down the expectations and ratings of the stock recently.
    • Keurig Choice is a new initiative that needs clarification for investors.
  • Update: Endeavour Silver Announces Its Widely Expected Resource Updates But Outlook Disappoints
    EXK Yesterday, 1:32 PM The Investment Doctor Comment!

    Summary

    • Endeavour Silver increases its total resources, but the cost guidance for 2015 disappoints me a bit.
    • EXK will be FCF negative at the current silver price and I was hoping the company could have done better than this.
    • The investment thesis remains unchanged, as Endeavour Silver will still be free cash flow negative.
  • Endocyte: Small Company, Small Valuation, Full Pipeline
    Editors' Pick ECYT Yesterday, 1:22 PM Doug Van Cuyk 8 Comments

    Summary

    • Endocyte's cancer treatment offers big potential for investors willing to wait and take a chance.
    • The company's SMDC is an innovative technology that could change the efficacy of many chemotherapy drugs that exist today.
    • The oncology market is projected to reach $110 billion by 2018, any sliver of this market for Endocyte could be monumental for this small-cap company.
    • Endocyte has a bolus of products in the pipeline, of which many of them could produce strong revenues.
    • Endocyte is currently valued at about $220 million. As of the third-quarter 2014, the company had $211.4 million in cash/equivalents. Investors can buy the future revenue for free.
  • Discover Financial: A Solid Play On The American Recovery And Oil Tax Cut
    DFS Yesterday, 1:19 PM Anthony Ruben 2 Comments

    Summary

    • DFS is trading at modest historical metrics following the market over-reaction to a disappointing quarter.
    • DFS is slowly and prudently growing its loan base while maintaining modest (and adequately reserved) write-offs.
    • Recent events suggest cost of funds will remain low for the medium-term.
    • Declining unemployment and the oil "tax cut" are both strong, positive indicators for loan growth and modest default rates.
  • Ann Inc.: Two Activist Investors Square Off
    ANN Yesterday, 1:14 PM Marshall Hargrave 1 Comment

    Summary

    • Despite the lackluster performance at ANN, shares are holding up fairly well.
    • This comes as two activist investors are involved.
    • But one wants a sale and the other is looking for strategic changes.
  • A Financial Analysis Of CGI Group Based On Risk-Return And Financial Metrics
    GIB Yesterday, 1:13 PM Michael Grogan Comment!

    Summary

    • CGI Group (GIB) has consistently generated alpha returns since the year 2008.
    • The company has an optimistic earnings outlook for the next 3-5 year period.
    • While total cash per share has remained below its peers, CGI Group's free cash flow levels vastly grew during 2014.
  • Update: Klondex Mines Increases Its Fire Creek Mineral Resource Estimate
    KLNDF Yesterday, 1:11 PM Ben Kramer-Miller Comment!

    Summary

    • Klondex Mines just announced a 47% increase to its Fire Creek measured and indicated resources.
    • I have been anticipating resource growth here.
    • This is an extremely positive development considering reluctant investors are concerned about the lack of current resources.
  • Looking Back, Sprint's Preliminary Numbers Are Not A Good Sign For Investors
    S Yesterday, 1:00 PM Brian Nichols 17 Comments

    Summary

    • Initially, Sprint's 30,000 postpaid net adds in Q4 was seen as a positive, a sign that its promotions are working to attract new subs.
    • But, now that investors know how well iPhones sold in Q4, and the performance of Sprint's competitors, 30,000 looks like a complete flop.
    • Given Sprint's very promotional iPhone activity, combined with the new subs volume it needs to counter declines in free cash flow, it might be time for investors to worry.
  • IPO Report: Tracon Pharmaceuticals
    TCON Yesterday, 12:58 PM IPOdesktop Comment!

    Summary

    • Therapeutics for cancer, age-related macular degeneration and fibrotic diseases.
    • Collaborators include National Cancer Institute. Top line data for Phase 2 trials expected end of '15 and mid '16.
    • Relatively low price-to-book of 2.4. Relatively low cash burn rate: P/E ratio of -27. Insiders may purchase $8.2mm, 17.4%.