Earnings season is largely over, so there were no companies that reported earnings this past week. However, we do have at least one company reporting next week – Ammo, Inc. (POWW). And the next earnings season is frankly just around the corner, with Walgreens Boots Alliance (WBA) announcing they’ll release their next round of results the last week of the month.
Friday, June 7, 2024, Subscribers-Only Podcast:
Covering recent news and analysis for our portfolio companies and other topics relevant to value/contrarian investors.
Today’s podcast is about 13 minutes long and covers:
- Initial note
- Introduction – some thoughts on market action this week, and this month’s additions and subtractions in the Catalyst Report.
- Comments on recommended companies
- Mattel (MAT) recently announced a collaboration with Universal Pictures to create a live-action theatrical film of the popular toy line Monster High.
- Viatris (VTRS) will report its second-quarter 2024 financial results on Thursday, August 8, 2024, before the open of the U.S. financial markets.
- The Western Union Company (WU) recently announced its collaboration with Tenpay Global, the cross-border payment platform of Tencent’s renowned Weixin. The partnership is aimed at providing flexibility for WU users to transfer money to China directly through Weixin Pay wallets.
- Advance Auto Parts, Inc. (AAP) has announced that it will pay a dividend of $0.25 per share on the 26th of July.
- VF Corp (VFC) announced that board member and former Donna Karan International CEO Caroline Brown will step down in order to become global brand president of The North Face. Brown takes over for Nicole Otto, whose departure was described by VF as an “involuntary termination without cause,” according to a regulatory filing.
- United States Steel Corp. (X) announced Nippon Steel’s vice chairman Takahiro Mori plans to return to the United States this week for more talks over the proposed acquisition of U.S. Steel and would study selling some assets if necessary for the deal to go through.
- Walgreens Boots Alliance (WBA) will release its fiscal 2024 third-quarter results at 7 a.m. ET on Thursday, June 27, 2024.
- Bayer AG (BAYRY) had the $2.2 Billion Roundup verdict against them slashed to $400M by a Pennsylvania judge on Tuesday.
Please know that while I don’t yet personally own shares of all Cabot Turnaround Letter recommended stocks – including the stocks mentioned in this note – that will materially change over time.
Please feel free to share your ideas and suggestions for the podcast and the letter with an email to either me at mwarder@cabotwealth.com or to our friendly customer support team at support@cabotwealth.com. Due to the time and space limits we may not be able to cover every topic, but we will work to cover as much as possible or respond by email.
Portfolio
| Market Cap | Recommendation | Symbol | Rec. Issue | Price at Rec. | Current Price * | Current Yield | Rating and Price Target |
| Small cap | Gannett Company | GCI | Aug 2017 | 9.22 | $ 3.95 | - | Buy (9) |
| Small cap | Duluth Holdings | DLTH | Feb 2020 | 8.68 | $ 3.81 | - | Buy (20) |
| Small cap | Dril-Quip | DRQ | May 2021 | 28.28 | $ 17.43 | - | Buy (44) |
| Small cap | Kopin Corp | KOPN | Aug 2023 | 2.03 | $ 0.78 | - | Buy (5) |
| Small cap | Ammo, Inc. | POWW | Oct 2023 | 1.99 | $ 2.55 | - | Buy (3.50) |
| Mid cap | Mattel | MAT | May 2015 | 28.43 | $ 17.66 | - | Buy (38) |
| Mid cap | Adient plc | ADNT | Oct 2018 | 39.77 | $ 27.56 | - | Buy (55) |
| Mid cap | Xerox Holdings | XRX | Dec 2020 | 21.91 | $ 14.08 | 7.1% | Buy (33) |
| Mid cap | Viatris | VTRS | Feb 2021 | 17.43 | $ 10.48 | 4.6% | Buy (26) |
| Mid cap | TreeHouse Foods | THS | Oct 2021 | 39.43 | $ 36.23 | - | Buy (60) |
| Mid cap | The Western Union Co. | WU | Dec 2021 | 16.40 | $ 12.90 | 7.3% | Buy (25) |
| Mid cap | Brookfield Re | BNRE | Jan 2022 | 61.32 | $ 41.63 | 0.8% | Buy (93) |
| Mid cap | Polaris | PII | Feb 2022 | 105.78 | $ 77.80 | 3.4% | Buy (160) |
| Mid cap | Goodyear Tire & Rubber | GT | Mar 2022 | 16.01 | $ 12.07 | - | Buy (24.50) |
| Mid cap | Janus Henderson Group | JHG | Jun 2022 | 27.17 | $ 32.46 | 4.8% | Buy (67) |
| Mid cap | Six Flags Entertainment | SIX | Dec 2022 | 22.60 | $ 25.89 | - | Buy (35) |
| Mid cap | Kohl’s Corporation | KSS | Mar 2023 | 32.43 | $ 22.50 | 8.9% | Buy (50) |
| Mid cap | Frontier Group Holdings | ULCC | Apr 2023 | 9.49 | $ 5.53 | - | Buy (15) |
| Mid cap | Advance Auto Parts | AAP | Sep 2023 | 64.08 | $ 64.24 | 1.6% | Buy (98) |
| Mid cap | Mohawk Industries | MHK | Jan 2024 | 103.11 | $ 113.95 | - | Buy (165) |
| Mid cap | VF Corporation | VFC | Mar 2024 | 16.24 | $ 13.47 | 2.7% | Buy (25) |
| Mid cap | Barnes Group | B | Apr 2024 | 36.55 | $ 37.82 | 1.6% | Buy (55) |
| Mid cap | First Quantum Minerals | FM | Apr 2024 | 15.93 | $ 16.73 | 1.6% | Buy (40) |
| Mid cap | United States Steel | X | Jun 2024 | 37.12 | $ 38.14 | 0.5% | Buy (55) |
| Large cap | General Electric | GE | Jul 2007 | 304.96 | $ 161.59 | 0.2% | Buy (160) |
| Large cap | Nokia Corporation | NOK | Mar 2015 | 8.02 | $ 3.91 | 3.4% | Buy (12) |
| Large cap | Macy’s | M | Jul 2016 | 33.61 | $ 18.43 | 3.4% | Buy (25) |
| Large cap | Newell Brands | NWL | Jun 2018 | 24.78 | $ 7.34 | 3.4% | Buy (39) |
| Large cap | Vodafone Group plc | VOD | Dec 2018 | 21.24 | $ 9.06 | 11.3% | Buy (32) |
| Large cap | Berkshire Hathaway | BRK.B | Apr 2020 | 183.18 | $ 414.32 | - | HOLD |
| Large cap | Wells Fargo & Company | WFC | Jun 2020 | 27.22 | $ 58.27 | 2.4% | Buy (64) |
| Large cap | Western Digital Corporation | WDC | Oct 2020 | 38.47 | $ 75.10 | - | Buy (78) |
| Large cap | Elanco Animal Health | ELAN | Apr 2021 | 27.85 | $ 18.12 | - | Buy (44) |
| Large cap | Walgreens Boots Alliance | WBA | Aug 2021 | 46.53 | $ 15.93 | 6.3% | Buy (70) |
| Large cap | Volkswagen AG | VWAGY | Aug 2022 | 19.76 | $ 13.40 | 6.9% | Buy (70) |
| Large cap | Warner Bros Discovery | WBD | Sep 2022 | 13.13 | $ 8.30 | - | Buy (20) |
| Large cap | Capital One Financial | COF | Nov 2022 | 96.25 | $ 138.10 | 1.7% | Buy (150) |
| Large cap | Bayer AG | BAYRY | Feb 2023 | 15.41 | $ 7.62 | 7.1% | Buy (24) |
| Large cap | Tyson Foods | TSN | Jun 2023 | 52.01 | $ 56.41 | 3.5% | Buy (78) |
| Large cap | Agnico Eagle Mines | AEM | Nov 2023 | 49.80 | $ 64.59 | 2.3% | Buy (75) |
| Large cap | Fidelity Natl Info Services | FIS | Dec 2023 | 55.50 | $ 76.82 | 2.7% | Buy (85) |
| Large cap | Baxter International | BAX | Feb 2024 | 38.79 | $ 33.20 | 3.3% | Buy (60) |
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