Author Archives: Stephen Percoco
It has certainly been a rough year for homebuilding stocks, but not nearly so bad for the housing market. The Lark Research Homebuilder Stock Price Index, an equal weighted average of eleven publicly-traded homebuilder stocks, was down 29.2% year-to-date through December 7. By comparison, the S&P 500 has declined 1.5% and the Russell 2000 has declined 5.7%. Continue reading
This year’s forum, held on November 15, was the seventeenth in the series. It kicked off with Co-Chairman Jeremy Seidman highlighting the planning process for the event. Each year, about a month after the current forum, Mr. Seidman, Co-Chair Jack … Continue reading
Since floating the IPO in November 2017, Bluegreen Vacations Corporation’s (BXG) share price has come full circle. The stock opened its first day of trading at $13.55, rallied to a high of $25.91 in July and has since fallen back … Continue reading
General Electric (GE) reported 2018 third quarter results on Tuesday, October 30. This was the first conference call for newly-installed Chairman and CEO H. Lawrence (Larry) Culp, Jr.
On May 18, 2018, in conjunction with the release of fiscal 2018 third quarter earnings report, Campbell Soup Company (CPB) announced a “CEO transition.” Denise M. Morrison, who had served as Campbell’s President and CEO since August 2011, was retiring … Continue reading
The reaction to Friday’s labor market report was sharp and swift. Bond yields, especially on the long end of the yield curve rose and stocks sold off. The yield on the 10-year Treasury note ended the week at 3.23%, its … Continue reading
On Sept. 23, in a 13D filing with the Securities and Exchange Commission, ESL Investments attached a proposal that it had made to Sears Holding (SHLD) that would reduce SHLD’s total outstanding debt by 78% through a combination of asset … Continue reading
On Monday, September 24, 2018, Barrick Gold Corp. and Randgold Resources Ltd. announced that they had agreed on a share-for-share merger that would create the largest publicly-traded gold company in the world. Under the terms of the merger, each Randgold … Continue reading
AT&T completed its acquisition of Time Warner on June 14, 2018. Under the merger agreement, Time Warner shareholders received $53.75 per share in cash and 1.437 shares of AT&T stock for each TWX share held. In total, Time Warner shareholders … Continue reading
Diamond Offshore is the offshore drilling company that is 53%-owned by Loews Corporation. The company currently owns a fleet of 17 “floaters” (self-propelled drillships and semisubmersible rigs), four of which are currently cold-stacked.