Author Archives: Stephen Percoco

A Solid First Half for Housing and the Builders

A typical analysis from policy makers, like the Federal Reserve, points out that activity in the housing market has declined so far this year; but that assertion focuses primarily on housing starts.   A more complete picture from the national data … Continue reading

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An Update on Bed Bath & Beyond

Shares of Bed Bath & Beyond have sold off sharply in recent weeks, but the stock is exceptionally cheap vs. its peers. If new leadership can accelerate the company’s transformation plan successfully, the shares have significant upside potential. The article explores both risks and opportunities for Bed Bath & Beyond as it enters the next phase of its transformation plan. Continue reading

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Bed Bath & Beyond’s Next Generation Lab Store

A tour (with pictures) of the Bed Bath & Beyond East Hanover store. Continue reading

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Notes and Analysis from Merck’s Investor Day

On June 20, Merck held an investor day, its first in five years, to highlight its goals and objectives and provide a broad perspective on its five-year performance outlook.  Although its blockbuster cancer treatment, KEYTRUDA (pembrolizumab), has been a spectacular … Continue reading

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Bluegreen’s Share Price Plunges on Bass Pro Contract Cancellation

Shares of Bluegreen Vacations Corporation (BXG) received a double whammy in May from the parent company BBX Capital’s (BBX) decision to back out of its offer to buyback BXG’s public float – equal to 10% of outstanding shares – and … Continue reading

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A Solid 2019 First Quarter for New Home Sales

As anticipated, the market for new single-family houses rebounded from a steep 2018 fourth quarter slide to post modest gains in the 2019 first quarter against fairly strong 2018 first quarter levels.  The primary driver of the housing rebound has … Continue reading

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Impairments Spark a Sell-Off, But Position BZH for an Earnings Rebound

Beazer Homes (BZH) reported a fiscal 2019 second quarter loss of $3.28 per share, compared with earnings of $0.36 per share in the comparable prior year quarter.  The loss included a large impairment charge and a much smaller gain on … Continue reading

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The Outlook Begins to Improve (Gradually) for BHGE

The net income and EPS figures for the 2019 first quarter for Baker Hughes, a GE company, are confusing as presented.  The company reported net income (before income or loss allocated to the non-controlling interest, which is GE) of $71 … Continue reading

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Peabody Energy: Maintaining Guidance Despite Disappointing in Q1

Peabody reported a sharp decline in its 2019 first quarter revenues and profitability (even though its earnings per share rose).  The declines were due to lower volumes, lower prices and higher costs in its seaborne metallurgical (SMC) and Powder River … Continue reading

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United Parcel Service (UPS) 18Q1 Results

UPS reported 19Q1 EPS of $1.28, down from $1.55 a year ago. Non-GAAP EPS, which excludes the after tax impact of transformation strategy costs – i.e. costs that “will create efficiencies across the enterprise and produce higher-quality revenue growth” – … Continue reading

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