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  • Dollar General - Appeal Remains As Growth Continues
    Thu, Jun. 5 DG Comment!

    Summary

    • Dollar General suffered from harsh weather as well in the first quarter.
    • Despite soft first quarter results, the company maintains a strong full year outlook.
    • Shares continue to offer appeal for growth-oriented investors on dips.
  • National Penn Bancshares - High Dividend Payer Announces Acquisition Of TF Financial
    Thu, Jun. 5 THRD, NPBC 2 Comments

    Summary

    • National Penn Bancshares announces the acquisition of TF Financial Corporation.
    • Significant acquisition premium is offset by sizable expected cost synergies.
    • I have not forgotten about the dramatic performance during the financial crisis, and continue to shun the shares.
  • Five Below - Impressive Growth, Yet Premium Valuation Leaves Me Worried
    Thu, Jun. 5 FIVE 12 Comments

    Summary

    • Five Below beats on first-quarter estimates, reiterates its full-year outlook.
    • Despite a recent sell-off, shares continue to trade at very high multiples.
    • I am not attracted to the stock, as an unexpected slowdown could still result in a lot more downside.
  • Ambarella - Reassuring Earnings And Guidance Delivers Comfort To Investors
    Wed, Jun. 4 AMBA 10 Comments

    Summary

    • Ambarella comfortably met first quarter expectations.
    • The second quarter outlook and upbeat comments for the rest of the year are comforting for investors.
    • I am a buyer on further dips as valuation appeal has improved significantly in recent months.
  • Krispy Kreme Doughnuts - No Obvious Buying Opportunity After The Latest Sell-Off
    Wed, Jun. 4 KKD 4 Comments

    Summary

    • Shares of Krispy Kreme lose 15% as the company reports a drop in comparable store sales.
    • After just one quarter, the company is forced to lower the full-year outlook already.
    • Shares are not an obvious buy, still trading at over 30 times GAAP earnings.
  • Acadia Healthcare - Investors Applaud After Yet Another Deal, Yet I Am Cautious
    Tue, Jun. 3 ACHC Comment!

    Summary

    • Acadia Healthcare moves into the UK by acquiring PiC.
    • The $660 million deal is expected to be highly accretive to earnings per share.
    • While the standalone deal looks solid, the overall leverage of the firm and a premium valuation makes me cautious on investing.
  • Marathon Oil - Attractive On Dips Despite 'Rushed' Norwegian Asset Sale
    Tue, Jun. 3 MRO 12 Comments

    Summary

    • Marathon completes another divestment, selling its Norwegian assets.
    • The deal tag is a bit disappointing; investors act reserved.
    • However, I remain a buyer on dips, as management is committed to creating shareholder value.
  • Lions Gate - Revenue Stabilization Required To Halt The Correction
    Tue, Jun. 3 CBS, VIAB, LGF 3 Comments

    Summary

    • Investors wonder what will drive future topline growth.
    • Despite a sizable correction, shares are still pricey after strong momentum in 2013.
    • I will await better entry opportunities before jumping onboard.
  • Toll Brothers - Despite Improved Operating Conditions The Valuation Is Demanding
    Mon, Jun. 2 TOL 1 Comment

    Summary

    • Toll Brothers reports solid results as demand remains solid despite leveling off.
    • A further improvement in the housing market is anticipated.
    • Yet the current valuation is already reflecting a lot of future good news.
  • Pall Corporation - Steady As She Goes, Valuation Already Reflects The Good News
    Mon, Jun. 2 PLL Comment!

    Summary

    • Pall reported a solid set of third-quarter results.
    • Life Science business drives results, as order intake grows at double-digit numbers.
    • Valuation already reflects a great deal of good news, a bit too much in my opinion.
  • Splunk - Tough Times Continue For Beaten Down Investors
    Mon, Jun. 2 SPLK 7 Comments

    Summary

    • Splunk's shareholders suffer another sell-off, shares are down more than 60% from their highs.
    • Operational growth remains impressive, yet operating losses and stock-based compensation continue to increase.
    • The latest sell-off does not automatically translate into a buying opportunity.
  • Amsurg - Major Acquisition Of Sheridan Healthcare Offers Little Appeal For Shareholders
    Sun, Jun. 1 AMSG 1 Comment

    Summary

    • Amsurg acquires Sheridan Healthcare in a deal which will double its operations.
    • However the deal is little accretive while leverage will increase significantly.
    • As such the deal increases short term risk while the upside is limited in my opinion.
  • Lockheed Martin - A Small Step To Acquire Astrotech, A Large Deal For The Selling Company
    Fri, May. 30 LMT, ASTC 18 Comments

    Summary

    • Lockheed acquires Astrotech to boost its Space System business.
    • The deal hardly moves the needle for Lockheed, but confirms that the company will continue to look for interesting additions.
    • Astrotech will sell its main operations for a price tag that approximates its current market valuation.
  • Avista: Investors Applaud The Sale Of Ecova To GDF Suez
    Fri, May. 30 AVA, GDFZY 10 Comments

    Summary

    • Avista sells its subsidiary Ecova to GDF Suez in a $335-million deal.
    • Proceeds will be used to repurchase shares, creating enthusiasm among investors.
    • That being said, the valuation is full as investors bid up dividend stocks in search for yield.
  • Costco: Premium Valuation Under Pressure With Earnings Growth Stalling
    Fri, May. 30 COST 3 Comments

    Summary

    • Costco reported steady topline revenue growth again.
    • Margins are under pressure, thereby limiting earnings growth.
    • Premium valuation is too high despite a great track record and excellent management.
    • I will only buy on significant dips.
  • AutoZone: High Expectations And Inventory Build-Up Create Short-Term Worries
    Fri, May. 30 AZO 1 Comment

    Summary

    • Autozone reports a solid set of third quarter results.
    • The market is disappointed and perhaps slightly worried about the inventory build-up.
    • Shares offer compelling value on significant dips.
  • Palo Alto Networks - Industry Tailwinds, Settlement And Customer Growth Drive Current Momentum
    Thu, May. 29 JNPR, PANW 1 Comment

    Summary

    • Investors are relieved after solid results and a settlement with Juniper Networks.
    • The company has benefited from tailwinds on the back of high-profile cyber security threats.
    • Yet I remain cautious after shares nearly doubled over the past six months.
  • Westlake Chemical - Appealing Deal, Yet Overall Premium Valuation Is Not Warranted
    Thu, May. 29 WLK 2 Comments

    Summary

    • Acquisition of Vinnolit adds a third to total revenues.
    • Acquisition is immediately accretive to earnings and is attractive both on a relative and absolute basis.
    • Yet Westlake's overall valuation is a bit steep given the cyclicality of the business, making me wary to invest at current levels.
  • Workday - Beats Again And Hikes Guidance, Valuation Remains Too Steep For Me
    Wed, May. 28 WDAY 1 Comment

    Summary

    • Workday continues to beat, hikes its guidance again.
    • Yet growing topline growth goes hand in hand with increased GAAP losses.
    • Despite a sell-off during the ¨momentum¨ correction, I remain short.
  • The Fresh Market - Risk/Reward Improves, Still Not Appealing Enough
    Wed, May. 28 WFM, TFM 2 Comments

    Summary

    • Shares have lost half their value as comparable store sales growth slowed down dramatically.
    • Store closures and high related costs have scared off investors as well.
    • Long-term appeal remains if the company executes well, I would like to see a better entry opportunity before picking up shares.
  • Parsley Energy: Very Strong Public Debut For This Permian Basin Player
    Tue, May. 27 PE 1 Comment

    Summary

    • Parsley is a pure play on the Permian Basin.
    • The company has and is currently still showing rapid as well as profitable growth.
    • While the company faces the usual risks, there might be more upside potential if profitable growth continues.
  • Marathon Petroleum - Deal With Hess Creates The Nation's Largest Fuel And Convenience Store Chain
    Tue, May. 27 HES, MRO, MPC 3 Comments

    Summary

    • Marathon Petroleum expands its presence in fuel stations and convenience stores by acquiring stores from Hess.
    • The company pays a steep price on current multiples, although sizable future revenue and cost synergies are anticipated.
    • Earnings are still largely driven by refining operations, and I do not find shares that attractive at current multiples.
  • Harman International - Solid Strategic Acquisition Of AMX LLC, Yet Appeal Is Limited
    Tue, May. 27 HAR Comment!

    Summary

    • Harman International acquires AMX LLC in a $365 million deal.
    • With the acquisition, Harman bolsters its smart connectivity solutions.
    • Despite great operational momentum and a strong future outlook, momentum is limited after shares doubled over the past year.
  • 3 Growth Names With High Margins, A Strong Balance Sheet And An Appealing Valuation
    Tue, May. 27 HP, SYNT, UBNT Comment!

    Summary

    • I have selected three growth stories trading at an attractive valuation.
    • Candidates trade at less than 20 times earnings, have a strong balance sheet, report high margins and display great sales growth.
    • These names can be held in any well-diversified portfolio.
  • United Natural Foods - Biggest Acquisition To Date, Tony's Fine Foods Adds To Appeal
    Mon, May. 26 UNFI Comment!

    Summary

    • United Natural Foods announces a major deal, adding 10% in annual revenues.
    • Strong acquisition track record adds to further growth appeal as investors applaud the deal.
    • Valuation has increased significantly in recent years, shares offer appeal only on big dips.
  • Advance Auto Parts - Harsh Weather And Integration Efforts Boost Momentum
    Mon, May. 26 AAP 1 Comment

    Summary

    • One of the few retailers benefiting from the cold winter.
    • Momentum is driven by weather and integration process of General Parts.
    • Long-term appeal remains, yet after significant share price momentum, I remain cautious for the short run.
  • Deere - Strong Operational And Financial Performance Will Drive Future Returns
    Mon, May. 26 DE 3 Comments

    Summary

    • Deere remains "committed to those linked to the land".
    • The company has aggressive revenue targets of $50 billion for 2018.
    • As investors "receive" excess cash flows through dividend hikes and share repurchases.
  • Analog Devices - Sustainable Topline Revenue Growth Is Required To Create Appeal
    Mon, May. 26 ADI Comment!

    Summary

    • Analog Devices reported solid second quarter earnings and issued a comforting outlook.
    • Strong balance sheet, stable revenues and high margins offer safety.
    • To create appeal for shareholders, topline revenue growth will have to become consistent through the cycle.
  • While Earnings Season Is Officially Over, These Big Names Are Scheduled To Report This Week
    Mon, May. 26 AAP, AZO, COST Comment!

    Summary

    • Earnings season is officially over.
    • Yet there are still a few big names out there scheduled to report in this short trading week.
    • Among these are Costco, Michael Kors, AutoZone and Workday.
  • Best Buy - Cost Control Outweighs Continued Sales Decline As Long-Term Prospects Remain Doubtful
    Mon, May. 26 BBY 3 Comments

    Summary

    • Best Buy again posts a drop in sales amidst harsh weather and a very competitive electronics retail environment.
    • Yet cost savings sort effect, thereby boosting earnings.
    • Long-term competitive position remains a worry.
  • Dollar Tree - Solid Operational Performance And Consistent Share Repurchases Create Value
    Mon, May. 26 DLTR Comment!

    Summary

    • Dollar Tree reports solid growth, driven by store openings and a slow pace of comparable store sales.
    • The company navigated well with its inventory in a difficult environment.
    • The biggest plus are consistent share repurchases, creating long-term returns for investors.
  • Ross Stores - Great Off-Price Retailer, No Discount On Shares Yet
    Sun, May. 25 ROST 5 Comments

    Summary

    • Ross Stores manages to report comparable sales growth in a difficult market.
    • The company has an excellent track record and a rock solid balance sheet.
    • As I await a slightly better entry point before picking up shares.