Previewing Apple's Earnings Through The Eyes Of Its Suppliers [View article]
The January 17 date was based on forecasts from Reuters, which used historical data to forecast when SWKS would next release its earnings. SWKS chose to report Q4 earnings later than it has in prior years.
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
Under normal circumstances, that is the case. However, this deal was structured with the specific requirement that it can only be approved with 75% of CLWR investors voting yes. A simple majority vote in favor is not enough in this case, likely to to Delaware law protecting minority investors.
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
The break up fee is indeed $120 million, which Sprint must pay if its deal with CLWR isn't done before October 15, if the SoftBank deal collapses, or if either side terminates their agreement (http://reut.rs/11x0oZ2)
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
That's exactly it. Many people assume that Clearwire will file for bankruptcy if Sprint does not take control of the company, when in fact that is not the case. The idea that they will file tomorrow is for illustrative purposes. Clearwire does not need the Sprint deal done as soon as possible. There is ample time to negotiate with both DISH and Sprint and extract a higher offer.
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
Looking at only CLWR's balance sheet yields a book value of $1.56 per share, and that assumes that the spectrum is sold off for only book value. Value in bankruptcy depends on 2 things: the value of spectrum, and the rate at which Clearwire is burning cash. If the company decides to file when its cash runs out, the value will be lower than if Clearwire decided to file tomorrow. It is likely that in a bankruptcy auction, Clearwire's spectrum would not have the Equtyholders agreement binding it, thereby allowing for a "cleaner" auction, which could bring out higher bids.
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
That may not necessarily be the case. The problem for Sprint is that there is significant opposition to their bid from minority investors, and they will have a difficult time securing the necessary votes to get their own deal approved. Clearwire has seen enormous trading volumes since rumors of a deal began, and it is unclear exactly who owns the remainder of Clearwire's minority shares. For example, hedge funds that have bought up Clearwire stock could force Sprint to raise its bid because they hold the remaining votes Sprint needs. As for restructuring, Clearwire did not say that it was a guaranteed outcome if Sprint's bid fails, but rather that it is a possibility. The company still has many quarters of cash left, and no debt maturing for a few years, giving it enough time to come to a strategic solution.
Buy Tesla Motors: Think Of It Not As A Car Company, But As A Luxury Indulgence [View article]
While Tesla's roadmap does paint a pathway to being a mass market vehicle, that is not the case today. And that is perfectly acceptable. Tesla should do well based on its present ability to attract affluent consumers, giving it the capital needed to create the proper cars for its future target markets.
Buy AOL: 2013 Will Be A Pivotal Year [View article]
Patch has long been an albatross for AOL. However, management is committed to its Q4 2013 deadline of Patch becoming profitable, and if they can meet that goal, AOL's perception in the market could improve even more.
Previewing Apple's Earnings Through The Eyes Of Its Suppliers [View article]
Apple has released a list of suppliers in response to pressure from labor activists (http://bit.ly/zRjHQq). However, the list does not break down exactly what each supplier does for Apple, only that Apple does business with them.
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
While Ackman has a good track record, he is not infallible (no investor is). Ackman has also been long JC Penney, and at least for the time being, his thesis on JCP has been incorrect. Will he be right years from now? Perhaps. But there is no way to know for sure. A thesis isn't right or wrong based simply on who is delivering it. Warren Buffet has never bought a single share of Apple. Does that mean Apple should be avoided, even if arguably the greatest investor in the world doesn't own it?
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
The ruling in Belgium applies only to Belgium. Different countries have different consumer laws, and what is acceptable in one country may not be acceptable in another. The Belgian court system is making a ruling regarding Herbalife's business in Belgium, not its business in other countries. Here in the US, the SEC has already looked into Herbalife twice, and both times closes its investigation without filing any charges or enforcement actions.
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
Enron's financial statements (10-Q's and 10-K's) were extremely difficult to read because the company made every effort to hide the fraud that was going on. Enron was an accounting fraud, and as such, a very close reading of its financial statements could have discovered that something was wrong. Herbalife is not being accused of running an accounting fraud, which can, with enough time, be uncovered via a company's financials.
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
In its current filings, Herbalife discloses US sales and sales for North America as a whole (http://1.usa.gov/WF50uE). Ackman's thesis and presentation were certainly thorough, but they did not contain much in the way of groundbreaking new information, even if it was articulated in a much more substantial way than before.
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
Several analysts took issue with that framing of the argument as well. At his conference presentation, Ackman asked how many of the people in the audience have ever bought an Herbalife product, and almost no one raised their hands (http://on.barrons.com/...). But that is the expected response. The audience at his HLF presentation was likely other fund managers, analysts, and Wall Street professionals. It is highly unlikely that any of them would ever actually buy Herbalife products in the first place.
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
Short-sellers do play a valid role in the market. That being said, what may irk some people is that Ackman's thesis has already achieved its desired effect, even before Herbalife has had a chance to respond properly to his allegations. Some may see it as Bill Ackman's being proven right by virtue of being Bill Ackman, and not by virtue of being Bill Ackman. This article is not about attacking Bill Ackman, because attacking the messenger does little to blunt the message.
Previewing Apple's Earnings Through The Eyes Of Its Suppliers [View article]
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
"cleaner" auction, which could bring out higher bids.
Clearwire: With DISH Entering The Fray, A Higher Offer From Sprint Is On The Way [View article]
Buy Tesla Motors: Think Of It Not As A Car Company, But As A Luxury Indulgence [View article]
Buy AOL: 2013 Will Be A Pivotal Year [View article]
Previewing Apple's Earnings Through The Eyes Of Its Suppliers [View article]
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]
In Defense Of Herbalife: Arguments Against Ackman's Short Thesis [View article]