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We continue to see the company winning consumer wallet share and while the company shared it has no plans to raise its membership fees in the near-term, it did share that such an increase will happen at some point. Also, this week, Microsoft declared a 10% increase with its next quarterly dividend of $0.68 per share. We continue to like Chipotle's limited-time menu strategy as it spurs repeat traffic while also improving ticket size. Enjoy free valid Cutlery Shoppe Coupons & Promo Codes now! Modem in the same room as equipment. ACTIONS, ANALYSIS & MORE: Initiation (10/25/21), Investor Relations. Viewed from a different perspective, 28%-30% of Cboe's revenue stream is from recurring non-transaction revenue that includes proprietary market data as well as access and capacity fees. INVESTMENT THESIS: We believe upside will result from Amazon's continued Commerce dominance, AWS' continued leadership in the public cloud space, and ongoing growth of the company's advertising revenue stream, which feeds off Amazon's eCommerce business. Roughly 65% and 75% of the company's sales and operating income are derived from its consumer RISKS: With any insurance business the risk is high for changes in regulation and government programs. Given the current share price, the new forward yield on MSFT shares is roughly 1.1%. Following comments that Meta is looking to cut expenses by at least 10%, we will continue to keep close tabs on Alphabet, which has already signaled some belt tightening. This new dividend will be paid on December 8 to shareholders of record on Nov. 17. In the coming weeks and months, this latest supply chain hurdle should be cleared, and others should continue to improve as well, reducing some of the margin pressure being felt by Ford and others. 1874. WebAs medical mask manufacturers hired hundreds of new workers and increased output, and 704 others have refused to work due to lack of protective equipment in a high-risk environment. RISKS: Economic downturns and the pace of economic recovery; the ability to win new contracts; the ability to recruit and retain quality healthcare professionals. That means the impact could spread far beyond the agencys payday lending rule. Services provided by the Company's utilities are subject to regulation by multiple state utility commissions or other entities engaged in utility regulation, collectively referred to as public utility commissions (PUCs). E-Commerce increased by 8.4% on adjusted basis. It invests in companies that develop & produce crude oil & natural gas, provide drilling and other energy related services. Given the GDP figures for the first half of 2022 and slowing economic data received so far in the current quarter, we weren't surprised by the size of that cut although it could catch many market watchers off guard. Near-term we will be looking for companies with qualities like those found in the portfolio's newer positions. WEEKLY UPDATE: With the Fed on path to tame inflation, a move that will see further interest rate hikes in the coming months, we remain concerned over the potential for the Fed to overreach and scuttle the domestic economy. supplying high-quality egg ingredients to food manufacturers and foodservice companies. Web1. The AAP is long all stocks in the portfolio including ELV GLD SH PSQ XLE UPS PEP NUE MA F CIBR AWK AMZN VZ URI NVDA MSFT MKC GOOGL DE COST CMG CHPT CBOE AAPL AMN VMC. INVESTMENT THESIS: The First Trust Nasdaq Cybersecurity ETF is an exchange-traded fund. As fresh data is available, we will continue to evaluate the portfolio's current lineup of holdings even as we examine potential candidates for the Bullpen. Furthermore, we believe that Apple's desire to push deeper into the healthcare arena will help make its devices invaluable as more life-changing features are added and the company works to democratize health records. We aren't the only ones doing this given estimate cuts at Bank of America this week given the issues we mentioned above but like us Morgan Stanley is concerned AMD could miss expectations for the current quarter. It makes, markets, and sells a slew of brands across the beverage and snack categories, including Pepsi, Mountain Dew, Gatorade, Doritos, Lays, and Ruffles. We also continued to hear more about supply chain issues, dollar headwinds, and inflation pressures this week, another reason to think earnings expectations need to be re-jiggered lower. In addition to that structural pain point, we continue to like the domestic only exposure of AMN's business. Miller Brothers Farm is a family owned and operated farm located in central Illinois. top spas near me. That combination has allowed the company to deliver steady top and bottom-line growth over the last decade, with only a modest decline when the pandemic hit in 2020. ACTIONS, ANALYSIS & MORE: We're Initiating 1 Name While Adding to Another Initiating a Position in This Public Water Utility Company, Investor Relations presentation. WEEKLY UPDATE: With the Fed on path to tame inflation, a move that will see further interest rate hikes in the coming months, we remain concerned over the potential for the Fed to overreach and scuttle the domestic economy. WEEKLY UPDATE: Bank of Americasaid Apple is likely benefitting from iPhone promotions, particularly in the U.S., that are designed for older iPhone users to upgrade to newer models. We also appreciate management's approach to capital returns and their willingness to return cash when it is in excess on the balance sheet. We see this as a positive for Alphabet and one that could see it win share from rivals including Meta's Instagram and TikTok. Among the items coming at us next week, the two that we will be most focused on will be the August Personal Income & Spending report given what it will tell us about the health of consumers but also because it will contain the latest reading on the PCE Price Index, one of the Fed's preferred inflation metrics. Once again, we have a somewhat quiet start to the economic calendar next week, which will be made even more so given the drop-off in investor conferences. Among the ones we'll be paying closer attention to are Cintas (CTAS), CarMax (KMX), Micron (MU), and Nike (NKE) given what is likely to be said about hiring expectations and cost cutting, auto demand, the PC and larger consumer electronics market, consumer spending and dollar headwinds. This company's most recent dividend increase marks its 50th consecutive one and that 7% bump moves the annualized dividend to $4.60 per share up from the prior $4.30. We continue to see the company's Prime, logistics service and learnings from its Chime video conferencing platform as a game changer for the healthcare industry. We also believe Nucor will be a major beneficiary of a comprehensive infrastructure package. We intend to play the long game with DE shares. Find Your Location Buy Equipment & Supplies Online We sell the highest quality restaurant equipment by major manufacturers. In February 2022, the company announced a 49% hike to its quarterly dividend putting it at $1.52 per share. Target Price: Reiterate $132; Rating: One. WEEKLY UPDATE: After a strong move higher last week, CHPT shares gave those gains and then some back this week amid the market sell off. This has us keeping close watch on the shares with an eye to adding to the portfolio's position size. At least 20 Mbps Download Speed. Should the Atlanta Fed's GDPNow tilt into negative territory that would mark the third potential quarter for negative GDP. The opportunity to find a company with reliable and dependable revenue and cash flows is right here with Elevance. OR. This week the IEA said it sees "another all-time high for electric vehicle sales [in 2022], lifting them to 13% of total light duty vehicle sales globally" vs. almost 9% of the car market in 2021. Comments from Cross Country Healthcare that the lack of adequate nurse labor supply is impacting the health care market's ability to fill open positions, a view that supports our these for AMN shares. California voters have now received their mail ballots, and the November 8 general election has entered its final stage. That business mix positions the company to be capitalize on the rising demand for healthcare professionals, particularly for nurses and doctors, which is expected to grow significantly as more of the U.S. population moves past the age of 65 in the coming years. On a positive note, the portfolio's inverse-exchange-traded fund positions continue to blunt declines in both the S&P 500 and the Nasdaq Composite. Separately, as the population increases and ages there is more opportunity for Elevance to grow, but if those changes there is risk. The Advance/Decline line at the bottom pane may be signaling exhaustion, but we would wait for other signals like price and strong volume to get warmed up to the XLV. Lastly, also see upside resulting from increased adoption of wearables (think the Apple Watch) and potential new product announcements such as an AR/VR headset or an update on project Titan, the company's secretive autonomous driving program. The core driver of the company's business hinges on continued growth in options trading volume and the company expanding its recurring non-transaction revenue. At last report, there are 17 potential states mulling this over including Washington, Massachusetts, New York, Oregon, Vermont, Virginia, Minnesota, and Colorado. Target Price: Reiterate $620. WEEKLY UPDATE: Jefferies issued bullish comments on the contract health care market this week, noting not only an increase in the number of jobs available but also an increase in billing rates. INVESTMENT THESIS: Mastercard is a card network company that benefits from the secular shift away from cash transactions and towards card based and electronic payments. RISKS: Cybersecurity spending, technology and product development, timing of product sales cycle, new products, and services in response to rapid technological changes and market developments as well as evolving security threats. Given the uncertainty associated with the weakness in its steel mill business and the relatively small position size for NUE shares, they could be a source of funds as we look to take advantage in more defensively positioned holdings within the portfolio. Aramtec is one of the UAE's longest established foodservice companies. Throughout her time at Home Depot, Tom built an impressive reputation as a turnaround artist, and we think her fresh perspective and intense focus on efficiencies will create a better UPS. WebAnderson Equipment is the Northeast premier distributor for construction, mining, forestry, road building and specialty equipment. ACTIONS, ANALYSIS & MORE: Selling Shares in 1 Position, Closing Another, Adding to 1 and Initiating 1, Trimming 2 Names While Initiating Coverage of a Third. It was a mixed week, but with a clear winner for the portfolio: Clear Secure, which popped double-digits. Exiting the quarter, Costco operating 838 warehouse locations and targets opening 29 new warehouses vs. 23 net new locations over the prior 12 months. Amid rising prices and economic uncertaintyas well as deep partisan divisions over social and political issuesCalifornians are processing a great deal of information to help them choose state constitutional Since the onset of Obamacare more than 10 years ago, companies like Elevance have changed their model to be more in line with a better cost/benefit analysis, reducing waste and squeezing out excesses (as was outlined and suggested in Obamacare). For the U.S., the Flash September composite PMI signaled the third consecutive month of output declines with inflation pressures remaining at elevated levels while new order growth rose modestly compared to August. In its updated Economic Projections, the Fed now sees gross domestic product cuts across the board for 2022, 2023, and 2024. But Microsoft is also one of the worlds largest corporations, and praising such colossal industry consolidation doesnt feel quite like the long-term consumer benefit Microsoft is making it out to be. ACTIONS, ANALYSIS & MORE: Adding to 2 Positions on Market Weakness, We're Initiating a Position in the Energy Sector, State Street Global Advisors SPDR Fact Sheet for XLE. The club houses dozens of show stock here at the farm each summer. WEEKLY UPDATE: YouTube confirmed it is bringing advertising to its YouTube Shorts videos as it looks to more aggressively monetize the platform with creators keeping 45% of the revenue, distributed based on their share of total Shorts views. Alongside those concerns, the U.S. Department of Agriculture reported further declines in corn and soybean crop conditions in its latest weekly Crop Progress report. Earlier this year, Costco announced a 13.9% increase for its quarterly dividend to $0.90 per share. Webhardy boats for sale ukBeef & Meat are supplying to: We supply bulk meat in bulk case at wholesale price to.Hotels, restaurants, shopping malls, supermarkets, hypermarkets, airlines, catering Sterling Foods is the industry leader Meat Products Supplier Online. Not only do they have the Mustang Mach-E, but Ford is also developing all-new electric versions of the popular F-150 and the E-Transit cargo van. We expect the typical American Water Works playbook to be put to work, including infrastructure improvements and petitioning utility regulators for rate hikes. To be included in the index, a security must be listed on an index-eligible global stock exchange and classified as a cybersecurity company as determined by the Consumer Technology Association (CTA). WEEKLY UPDATE: Nucor recently cuts its outlook for the current quarter putting the shortfall relative to consensus expectations weaker than expected results at the steel mills segment due to margin pressures and lower volumes. Given the tactical nature of this position, we do not expect to hold SH shares for the same length of time as we do the portfolio's long positions. Anderson Equipment has 18 full service locations from W.Va. to Me. As part of that earnings report, FedEx announced it will boost its shipping rates by 6.9% across the board in January, and we are likely to see UPS follow those steps to some degree. Concrete. Also helping its revenue, Apple announced it will raise prices of its apps and in-app purchases in October across the Eurozone and some countries in Asia and South America most likely due to currency and dollar related headwinds. WEEKLY UPDATE: The Architecture Billings Index (ABI) score for the month ticked back up to 53.3 from 51.0 in July, as more firms reported an increase in billings. Not only is that stream a key differentiator vs. other retailers it also means Costco's profit structure is less influenced by the consumer spending. Roughly 65% and 75% of the company's sales and operating income are derived from its consumer business with the balance from its "Flavor Solutions" one. Target Price: Reiterate $222; Rating: Two. The embedded call option is that management is always looking to enter a new space and generate new revenue streams. The combination of the consumable nature of those products along with PepsiCo's ability to realize price increases has led to consistent revenue, EPS, and dividend growth during both the Great Recession and the Covid pandemic. WebIt develops and manufactures complete automation solutions for functional safety and for data communication in machines and plants. AMD is also seeing strong momentum in the mobile space, recently announcing that its Ryzen platform has exceeded its moonshot 25x20 goal set in 2014 that aimed to improve the energy efficiency of its mobile processors 25 times by 2020. All our writers are graduates and professors from most of the largest universities in the world. It now sees GDP of just 0.2% in 2022, down from its prior forecast of 1.7% in June. With that in mind, UPS rolled out a pricing program that offers shippers one all-in rate while waiving almost all delivery surcharge, but we expect there to be some lift in its overall shipping rates. WebUSI 3162/3182 Cold/Frozen Satellite Food Vending Machine Parts Manual. ACTIONS, ANALYSIS & MORE: Nucor Preannounces Stronger-Than-Expected Third-Quarter Earnings (9/16/21), FY2Q21 Earnings Analysis (7/22/21), Initiation (6/7/21), Investor Relations. As we have in the past when this has happened, we will continue to keep close tabs on developments noting that we have yet to adjust our expectations for the successful completion of any such acquisition. ACTIONS, ANALYSIS & MORE: We're Calling Up a Name From the Bullpen, The Needle Could Begin to Move on This Bullpen Name, Investor Relations. Alongside a grouping of those headlines, we share our conversation with Netography CEO Martin Roesch, a cybersecurity company focused on the Atomized Network. Our suspicion is it will be another period of expectation re-setting, during which we will be fine-tuning our shopping list. PepsiCo will report its results for the current quarter on Oct. 12 and given the pullback in the shares, we are looking to revisit the current Two rating given the company's defensive and inelastic business model as well as its focus on returning capital to shareholders. 14,561,192 vouchers for 33,085 stores, Updated on Nov 04,22.. hells angels lake elsinore clubhouse i know the man lyrics significance of number We believe Alphabet's willingness to invest in new areas, knowing most will fail, is a recipe for long-term success as while most "X Moonshot Factory" projects may fail, every once in a while, you end up with a Waymo, perhaps the division's, most successful graduate to date. Ahead of the Fed's September monetary policy meeting, August housing starts and building permits were reported. WEEKLY UPDATE: Gold remained under pressure this week as the dollar continues to surge. This latest rebound adds to the year-over-year distance in corn, wheat, and soybean prices, bolstering prospects for farmer income, a leading indicator of ag equipment purchases. INVESTMENT THESIS: Verizon Communications is one of the largest communication companies in the U.S. Its Consumer business, includes wireless equipment and services as well as residential fixed connectivity solutions, including internet, video, and voice services, is ~75% of Verizon's revenue stream but ~90% of its operating income. Additionally, we believe profitability will continue to improve as AWS and advertising account for a larger portion of total sales as both these segments sport higher margins than the eCommerce operation. Here's a closer look at the economic data coming at us next week: Here's a closer look at the earnings reports coming at us next week. INVESTMENT THESIS: We are fans of CEO Carol Tom. Departments of Transportation and Energy announced nearly $5 billion over the next five years that will be made available under the new National Electric Vehicle Infrastructure (NEVI) Formula Program established by President Biden's Bipartisan Infrastructure Law. INVESTMENT THESIS: We believe the cloud to be a secular growth trend and that upside to shares will result from Microsoft's hybrid cloud leadership as the company grab's market in this expanding industry. ACTIONS, ANALYSIS & MORE: FY2Q21 Earnings Analysis (7/27/21), Investor/Analyst Day Analysis (6/9/21), Investor Relations. Above we commented the rise in interest rates and prospects for earnings revisions are likely to yield price target revisions across Wall Street for both the S&P 500 and individual stocks. We'll take solace that while the S&P 500 fellso far this week, a number of our holdings, including Apple, AMN Healthcare, Cboe Global Markets, PepsiCo, Vulcan Materials, and Verizon outperformed on a relative basis as did a few others. Furthermore, we believe it is this AI expertise that will also make the company more prevalent in other industries, including healthcare via subsidiary Verily, as AI and machine learning continue to disrupt operations across industries. Modem in the same room as equipment. With 28,000 associates and more than 70 locations, US Foods provides its customers with a broad and innovative food offering and a comprehensive. We continue to see signs of slowing enterprise spending, dollar headwinds and continued supply chain issues that are likely to lead to further downward revisions to GDP and earnings expectations. Housing starts totaled 1.575 million, surpassing expectations but building permits came in at 1.517 million, well below expectations and sharply lower than the revised count of 1.685 million in July. While we view this forecast with a skeptical eye given the other data we are seeing, we continue to see Mastercard benefitting from both the ongoing shift to card and contactless payments vs. cash and checks as well as the continued uptake of digital shopping. We believe the steel industry is going through a multi-year cycle of higher prices, leading to higher margins and bigger profits for Nucor. According to the U.S. Department of Energy, the U.S. reached a milestone this past year with its 100,000th EV charger installed in 2021. Given the evolving economic landscape, we are taking a pen to paper and reworking our price target for MA shares. We have highly qualified writers from all over the world. While signs of renewed supply chain issues in other industries could hamper ag equipment shipments or margins in the near term, we continue to see signs of vibrant demand for the coming year. We will keep our Two rating intact given concerns over higher interest rates and therefore incrementally more expensive auto loans even though we acknowledge some of that will be offset by EV subsidies. Later in the week, S&P Global issued several Flash September PMI reports, the sum of which confirmed the economies of the U.K., Eurozone, and the U.S. continued to slow. We see gold as an ideal hedge against a weaker dollar, strong inflation (which tends to weaken the dollar) alternative and in uncertain times (worry over war and battles). Target Price: Reiterate $175; Rating: Two. Whether it be through restructuring underperforming parts of the business and getting out of low profitable vehicles or addressing a roughly $2 billion headwind related to warranty costs, we believe Farley and his management are executing in building a new Ford that grows profitably and generates sustainable free cash flow. In addition to improved profitability, we also believe the transparent nature of this revenue stream will demand an expanded price-to-earnings multiple as segment sales grow. Lastly, competition is brisk with some very strong opponents who keep their costs low (Humana, Cigna, UNH, CVS/Healthnet). The metal is not correlated with markets and will move based on the demand/supply dynamic in the marketplace. While the S&P Global PMI data isn't factored into the Atlanta Fed's GDPNow model, its next update will be had on Tuesday, Sept. 27. WEEKLY UPDATE: While there was no new development this week, given our concerns over the upcoming September-quarter earnings season and the high degree of probability for downward revisions in GDP expectations following the Fed's latest Economic Forecast update, we continue to see a robust environment for Cboe's options business. The aim of NEVI is to build out a national electric vehicle charging network of high voltage chargers along designated Alternative Fuel Corridors, particularly along the Interstate Highway System. WebSafco UK is a sister concern of Safco Group of Companies, one of the leading foodservice distributor, importer and exporter of superior quality food and non-food products. On the CPU side, the company continues to take share from Intel in the data center thanks to its 2nd generation EPYC processor line, which is seeing increased adoption in the super computing and high-performance computing space (especially following execution missteps from Intel that has resulted in delays for the companies 7nm chips), which you can read more about at the link here. 3. RISKS: Inability to pass through higher costs, fuel prices, weaker consumer, membership churn. Lastly, compounding out positive view of the company's future opportunities, we believe that Alphabet's free cash flow generation and solid balance sheet set it apart and are what will allow the company to continue taking chances on far-out ground-breaking and potentially world changing projects. WEEKLY UPDATE: We used the proceeds of the portfolio's exit in Morgan Stanley shares to begin a starter position in HMO company Elevance Health with a $550 price target. Target Price: Reiterate $140; Rating: Two, ACTIONS, ANALYSIS & MORE: FY2Q21 Earnings Analysis (7/27/21), CEO Interview (7/29/20), Readthroughs Are Still Positive for AMD (7/24/20), Initiation (7/7/20), Investor Relations. Industry analysts at Guidehouse Insights forecast that a total of 120 million chargers will be needed globally by 2030, providing a meaningful opportunity for ChargePoint to expand its charging footprint. Certified Foodservice Professional One of the most common certifications for chefs to pursue is the Certified Foodservice Professional (CFSP) credential offered by the North American Association of Food Equipment Manufacturers We continue to see signs of slowing enterprise spending, dollar headwinds and continued supply chain issues that are likely to lead to further downward revisions to GDP and earnings expectations. ACTIONS, ANALYSIS & MORE: Addition to AAP Portfolio; Initial Technical Review, Addition to Bullpen, Investor Overview. Key Findings. Lastly, Nucor has a history of rewarding its shareholders with robust capital returns during upcycles. The metal rose Wednesday on Fed-day but moved down sharply as a currency war is now on the table. On Covid-19 dynamics, we view MA as a "reopening" play and an economic recovery play within technology because its cross-border volumes fell sharply during the pandemic but will rebound as mobility increases and travel restrictions ease. And while we believe the increasing share of revenue from these higher margin businesses will be key to driving profitability longer-term, we believe margins on ecommerce stand to improve as the company's infrastructure is further built out and economies of scale further kick in. The stock market is realizing the Fed will indeed "go bigger, for longer" to fight inflation. INVESTMENT THESIS: AMN Healthcare's business centers on talent solutions for the health care sector in the U.S. Save up to 10% off - 60% off off with Cutlery Shoppe Black Friday & Cyber Monday Coupon Codes , Discount Codes. Selling Shares in 1 Position, Closing Another, Adding to 1 and Initiating 1, Trimming 2 Names While Initiating Coverage of a Third, FHFA Housing Price Index - July (9:00 AM ET), S&P Case-Shiller Home Price Index - July (9:00 AM ET), Consumer Confidence - September (10:00 AM ET), Weekly MBA Mortgage Applications (7:00 AM ET), Pending Home Sales - August (10:00 AM ET), Weekly EIA Crude Oil Inventories (10:30 AM ET), Weekly Initial & Continuing Jobless Claims (8:30 AM ET), 2Q 2022 GDP - Third Estimate (8:30 AM ET), Weekly EIA Natural Gas Inventories (10:30 AM ET), Personal Income & Spending - August (8:30 AM ET), University of Michigan Consumer Sentiment (Final) - September (10:00 AM ET), Germany: Business Expectations - September, Eurozone: Business and Consumer Survey, Consumer Confidence, Consumer Inflation Expectations - September, China: Manufacturing and Non-Manufacturing PMIs - September, China: Caixin Manufacturing PMI - September, Germany: Import/Export Prices, Retail Sales - August, Eurozone: Consumer Price Index - September, Open: Cracker Barrel (CBRL), Jabil (JBL), United Natural Foods (UNFI), Close: Blackberry (BB), Cal-Maine Foods (CALM), Progress Software (PRGS), Open: Cintas (CTAS), Paychex (PAYX), Thor Industries (THO), Close: Jefferies (JEF), Vail Resorts (MTN). That data was a mere appetizer to the week's main course, which was the conclusion of the Fed's September monetary policy meeting. The ETF holds large-cap U.S. energy stocks. ACTIONS, ANALYSIS & MORE: We're Swapping One Cybersecurity Stock for Another, ETF Product Summary. We'll also be quite interested in the progress on the company's previously announced pricing initiatives that were instilled during August. In addition to what we learn about the impact of recent Covid related lockdowns, we'll also be assessing to what degree energy-related problems impacted the economy and supply chains to the west. For those keeping score, that's slower than the 8.5% post re-opening resurgence reported for 2021. That technology is helping farmers drive crop yields higher while also realizing cost savings, which makes the new technology a productivity upgrade compared to older equipment. We are the largest seller of refurbished vending machines in As a reminder, The Inflation Reduction Act signed by President Biden extended the existing $7,500 tax credit for EV vehicle purchases. While somewhat of a surprise, we'll continue to focus on the longer-term opportunity generally speaking but especially with Ford as it continues to transform its business and reap the benefits of related cost reduction efforts. As the flow of funds related to the Biden Infrastructure Law accelerate, we expect demand for the company's concrete and aggregates to accelerate. WebNo culls take your pick. By 2030, IEA sees EVs accounting for 60% of new car sales. RISKS: Because QQQ shares track the inverse of the Nasdaq 100 Index, QQQ shares will move lower when the Nasdaq 100 Index moves higher. INVESTMENT THESIS: Energy Select Sector SPDR Fund is an exchange-traded fund (ETF) that tracks the performance of the Energy Select Sector Index. The Moving Average Convergence Divergence (MACD) oscillator is on a sell right now while relative strength index on this weekly chart (trendspider) is bending lower. Following a bumpy launch week that saw frequent server trouble and bloated player queues, Blizzard has announced that over 25 million Overwatch 2 players have logged on in its first 10 days. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Our Aging of the Population Investment Theme Explores Medical Staffing Issues, shared heading into Costco's earnings report, $10 Per Share Special Dividend (11/16/20), Initiating a Position in This Equipment Rental Company, We're Adding This Equipment Rental Company to the Bullpen, Here's Why We're Attracted to This Telecom, Exiting 2 Positions, Initiating 1, and Adding to 3, Readthroughs Are Still Positive for AMD (7/24/20), We're Initiating 1 Name While Adding to Another, Initiating a Position in This Public Water Utility Company, Apple Product Launch Event Takeaways (4/20/21), The Needle Could Begin to Move on This Bullpen Name, We're Adding Chipotle to the (Bullpen) Menu, our conversation with Netography CEO Martin Roesch, We're Swapping One Cybersecurity Stock for Another, Our Take on Ford as It Continues Its Climb Higher (1/21/21), Looking for Opportunities After a Ford Downgrade (11/25/20), Why GOOGL Has Shrugged Off Antitrust Headlines in Early Trading Tuesday (10/20/20), CEO Satya Nadella speaks at the World Economic Forum (1/23/20), Nucor Preannounces Stronger-Than-Expected Third-Quarter Earnings, This Stock Should Have 'Pep,' Even in a Recession, We're Initiating a Position in the Energy Sector. That bodes very well in our opinion for Membership fee revenue, which accounted for 72% of Costco's net income over the last 12 months. : 2. As the flow of funds related to the Biden Infrastructure Law accelerate, we expect tight equipment supply to translate into favorable demand and pricing dynamics for United Rentals. We're starting to see that happen for both, and we expect to join that effort in the coming days. That bodes very well in our view for continued growth in the high margin Membership Fee revenue stream. State Street Global Advisors SPDR Fact Sheet for XLE. This "trust" buys and sells gold futures each day in an attempt to mimic the daily moves in the underlying asset, in this case gold. Members that are underweight AMN shares should nibble at current levels. RISKS: Turnaround execution, the transition from ICE (internal combustion engines) to EV vehicles, competition, economic cycle. We have ample cash on hand and the inverse ETF positions, and we will remain on the cautious path as we approach and move through the September quarter earnings season. WEEKLY UPDATE: Costco Wholesale reported August quarter earnings of $4.20 per share, a few pennies ahead of the $4.17 consensus. RISKS: Industry and economic risk, competition and competitive pressures, acquisition risk, labor relations, and the regulatory environment. With consumers feeling the pinch of higher food prices, they are likely to repeat the historical pattern of shifting toward increasing food consumption at home, a driver of demand for McCormick's products. Illinois, New York, New Jersey, and Maryland followed suit. We have seen some potentially positive developments on the inflation front but those are simply seeds. At the same time, Deere continues to lean into the sustainability movement with its precision ag offering. The holdings are weighted by market capitalization. Since 2014, the company has acquired more than two-dozen companies, including the 2021 acquisition of U.S. As we shared heading into Costco's earnings report, we would look to add to portfolio's position in the coming days even as we reassess our current $620 price target. Target Price: Reiterate $155; Rating: One, RISKS: Regulatory risk (data privacy), competition, macroeconomic slowdown impacting consumers and therefore ad buyer activity, ACTIONS, ANALYSIS & MORE: FY2Q21 Earnings Analysis (7/27/21), Why GOOGL Has Shrugged Off Antitrust Headlines in Early Trading Tuesday (10/20/20). Once again, historically elevated increases in costs were, partially passed on to customers, reaffirming our view the path to the Fed's 2% inflation target won't be a short one. Yet, the White House announced plans to release another additional 10 million barrels from the SPR in early November. Not only does that mean investors are increasingly nervous about the market, but it also signals the market isn't likely to see much support in the near-term. Target Price: Reiterate $230; Rating: Two. Through this segment Verizon offers wireless and wireline communications services and products, including data, video and conferencing services, corporate networking solutions, security and managed network services, local and long-distance voice services, and network access to deliver various Internet of Things (IoT) services and products. Target Price: Reiterate $380; Rating: One. Founded in 1944, Elevance offers a terrific business model that works in boom or bust economic times. The Flash Services PMI for September followed suit falling to 48.9 in September vs. 49.8 in August and the 49.0 consensus with the report showing that both input and output cost inflation accelerated. The products they produce are integral to a number of businesses including safe food packaging, container packaging for chemically resistant cleaning products such as detergents and bleach), vehicle ornamentation and bumpers, furnishings, clothing, and The company's utilities operate in approximately 1,700 communities in 14 states in the United States, with 3.4 million active customers in its water and wastewater networks. When it comes to the Fed, they are somewhat of a cheerleader no matter what the economic data is signaling, and that means it could once again misread recession risk. And this is a global concept, evidenced by the strength of sales both in the U.S. and abroad, which includes an emerging China opportunity. INVESTMENT THESIS: ChargePoint Holdings designs, develops and markets networked electric vehicle (EV) charging system infrastructure and cloud-based services which enable consumers the ability to locate, reserve and authenticate Networked Charging Systems, and to transact EV charging sessions on those systems. With that in mind, we will continue to watch for other states that follow in California's footsteps of instilling new regulations that require all new cars, pickups, and SUVs to be electric or hydrogen-powered by 2035. By 2030, IEA sees EVs accounting for 60% of new car sales. WebAramtec is a Foodservice Distribution company in UAE that specializes in supplying US Beef, UAE beef, lamb, veal & poultry products. 4. Target Price: Reiterate $165; Rating: Two. This marked the third consecutive contraction in factory activity and the biggest since June 2020. Revenue growth for this company has surged in recent years, better than double digit growth since 2018 as the company thrived during the pandemic. In addition to company-owned trademarks, Pepsi manufactures and distributes other brands through partnerships and joint ventures with companies such as Starbucks. Target Price: Initiation at $550; Rating: Two. During the week Mastercard declared its next quarterly dividend of $0.49 per share will be paid on Nov. 9 to shareholders of record on Oct. 7. INVESTMENT THESIS: Our bullish thesis on Ford is mainly predicated on the turnaround led by CEO Jim Farley and his new leadership team. Industrial and other non-construction rentals represented approximately 50% of rental revenue, primarily reflecting rentals to manufacturers, energy companies, chemical companies, paper mills, railroads, shipbuilders, utilities, retailers and infrastructure entities; Commercial construction rentals represented approximately 46% of rental revenue, primarily reflecting rentals related to the construction and remodeling of facilities for office space, lodging, healthcare, entertainment and other commercial purposes; and residential rentals ~4% of revenue. The Nasdaq-100 Index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization. INVESTMENT THESIS: We believe that while search and digital ad dominance are what will carry shares in the near- to- midterm, longer-term it is the company's artificial intelligence "moat" that will provide for new avenues of growth. 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