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Western Union - Steady Performance But Growth Nowhere In Sight
- Western Union has a long history of steady operating performance.
- However competition continues to slowly erode free-cash-flow.
- If you are sitting on gains, I recommend selling or hedging long exposure with an options collar.
Magnum Hunter's Shrinking Asset Base And The Implications For Shareholders
- Magnum will be selling up to $1B in assets in the coming months, raising much needed capital to fund ongoing operations.
- However this does nothing to solve the fundamental problems of too much debt as a result of poor capital allocation.
- With choking amounts of interest expense, the common shares should be avoided right now and shorted if shares move higher in response to a move back to $4/MMBtu natural gas.
6 Reasons Why CA Inc. Could Be Headed For A Transformational Corporate Event
- The options market is signaling a major move higher for the stock.
- There are too many related corporate events of late to ignore.
- The company could be prepping for a transformational corporate event.
Walk The Runway To Profits With Wilhelmina International
- Wilhelmina has racked up impressive growth numbers since going public, but there's more to come.
- Management has a multifaceted plan to keep growing at double digit rates.
- With a 10 percent free-cash-flow yield, the stock is cheap and should be accumulated.
Dex Media: More Questions Than Answers After The Earnings Call
- Management provided little in the way of guidance for important operational metrics.
- Management did hint that performance will likely get worse before it gets better.
- Even still, with solid execution, Dex Media could be a multi-bagger for investors.
Marathon Partners Goes Activist On Shutterfly
- Marathon Partners fails to make headway in its private discussions with the company, decides to take its fight public.
- Marathon should not have a problem getting its three nominees elected to the board at the annual meeting in May.
- Significant opportunity exists for the company to lower its cost structure and improve its capital allocation, which will lead to higher shareholder returns.
Vintage Sweeps IEC Board Elections! CEO Already Terminated. Here Are The Key Next Steps
- The Vintage Capital led proxy fight was a success - all 7 directors nominated.
- The new board immediately terminated the contract of the CEO - expect more personnel moves shortly.
- The return path to growth at IEC will be long and sometimes frustrating, but keep the faith.
Proxy Advisors Weigh In On IEC Electronics' Battle For Board Control
- Proxy advisors recommend substantial change to the IEC Board of Directors.
- IEC and Vintage each still recommend voting for all seven of their own nominees.
- At a minimum, four of Vintage's nominees should be voted onto the board.
- With four new directors elected, CEO Barry Gilbert's absolute control over the direction of IEC will finally end.
Buy Petroamerica Oil - A Survivor In The Junior E&P Space
- Petroamerica has a large net cash position, enabling it to ride out lower oil prices in the near term.
- The company has a history of highly profitable drilling operations in Colombia.
- The company should navigate the current storm of low oil prices just fine, setting it up for solid future growth.
IEC Electronics' Proxy Battle: Interesting Details Emerging
- IEC and Vintage have each filed several proxy statements in the last month.
- The proxy filings have included more details with regard to the parties' discussions as well as the reasons for Jeff Schlarbaum parting ways with the company.
- Vintage remains on track to take control of the Board of Directors, facilitating a change at the CEO position.
TravelCenters Of America - Moving Up On Declining Oil Prices
- Falling wholesale gasoline prices should benefit TravelCenters to the tune of $20M in Q4.
- This is not likely reason enough to own the stock, as margins on fuel sales remain thin.
- Until the company stops spending more on cap. ex. and acquisitions than it takes it from operations, shareholders are at risk of further dilution.
Shutterfly Shareholders Could Benefit From An Activist
- Shutterfly recently rejected takeover bid(s) and instead elected to remain independent - much to the ire of shareholders.
- The CEO is pursuing a high cost strategy and does not have the best interest of shareholders at heart.
- Shutterfly shareholders could greatly benefit from a vocal activist that shakes up the board and management.
Magnum Hunter Resources: Will It Ever Generate Positive Free Cash Flow?
- Cash from operations dwarfed by capital expenditures.
- The funding gap is closed with equity and debt raises as well as asset sales.
- Over the long-run this strategy is completely unsustainable and the equity should be avoided.
Why Dex One's New Hires Likely Points To A Balance Sheet Restructuring Forthcoming
- Dex Media announces new "dream team" of senior management.
- Board of Directors tells new CEO to accelerate the company's transformation.
- A sizable reduction in debt is necessary for this strategy to have a chance of succeeding.
On Tap At IEC: A Knock Down Drag Out Proxy Fight
- Vintage Capital filed a 13D/A with the SEC on Monday, announcing its intention to nominate its own slate of Directors to the Board.
- If a mere 20% of shares vote with Vintage, it will likely control the Board.
- Multiple avenues for significant value accretion to shareholders continues to exist.
CA Technologies - First Signs Of A Turnaround Emerging; Perfect Candidate For A LBO
- CA has a low valuation coupled with high free-cash-flow, making it ripe for a LBO.
- Growth in the Enterprise Solutions appears close at hand.
- A go private deal at $31-$33 a share would be a win for shareholders.
Lamar Advertising - Get Paid Handsomely To Wait For Multiple Expansion
- Lamar pays a nice 5% dividend, fully covered by free-cash-flow.
- U.S. economic growth is a nice tailwind to Lamar's revenues.
- REIT conversion is on track for Q4 completion.
- Over time Lamar should trade up to a multiple more in-line with other REITs.
Big Changes Coming To IEC. Time To Load Up.
- Vintage Capital filed a 13D revealing 7.1% ownership and included a letter that publicly criticized management and the Board.
- The Company is now under direct pressure to increase shareholder value.
- A sale or an entirely new Board, management team and strategy is now highly likely within the next 12 months.
- How Seagate Will Maintain Gross Margins And Continue To Trade Higher
- IEC Electronics: Absolutely, Positively A Mess And In Trouble
- Public Relations And PCs, Not Profits, Are Microsoft's Problems
- How Apple Can Generate A Decent Return On Its Cash
- Qualcomm's Non-GAAP Earnings Should Be Ignored -- Stick With GAAP
- IEC Electronics: Time For A Change At The Top?
- Ultrapetrol: What Changes I Would Like To See Southern Cross Make In 2013
- Dear Apple Board, This Is How You Defend The Share Price
- Dear Citigroup: Buybacks Don't Matter - Just Pay A Decent Dividend
- How To Profit From Natural Gas's Wild Ride
- Seagate Technology: Why The Likely End Game Is A LBO
- IEC Electronics: How An Asleep At The Wheel Board Of Directors Can Torpedo Shareholder Value
- Ultrapetrol: A Case Study On Questionable Corporate Governance
- IEC Electronics: Lining Shareholders' Pockets Or Management's?