On a year-to-date basis, shares of IPSU have dramatically underperformed the S&P 500 and other major benchmarks, despite what we believe is a compelling earnings story and an enormous disconnect between the current market...
READ MORE >Approximately four months ago we introduced a pair trade: long AYI/short HUBB based on our view that AYI shares were poised for mean reversion in stock price performance relative to those of HUBB and...
READ MORE >We recently had the opportunity to speak with senior management of ARP. Although we discussed a number of issues that will impact ARP shares in the near-term, our primary focus was on the strategic direction of the company in light of the increased usage...
READ MORE >MLHR reported 3Q10 results after the close. You can read the full earnings release here. Overall the company missed on both the top and bottom line. We introduced MLHR as a short idea earlier this week based on our expectations that revenue...
READ MORE >In July of 2009 we introduced a pair trade: Long MLHR/Short HNI. Our thesis at that time was predicated on the following: MLHR is a superior company to HNI based on almost every financial...
READ MORE >This report was originally published on 3/4/10.We recently discussed WPO (446.15 ↓1.20%)’s 4Q09 results, which have prompted a 5.8% rally in shares. In our review, we highlighted how we were eagerly...
READ MORE >This report was originally published on 3/2/10.We wanted to provide you with an update on the performance of our SMid Cap portfolio, which we introduced on 9/3/09. As a reminder this is a “mock” portfolio with an initial...
READ MORE >WPO reported 4Q09 results this morning. You can read all of the details here. The company’s revenue and EPS of $1.238 billion and $8.71 beat the lone set of analysts estimates out there of $1.16...
READ MORE >This report was originally published on 2/22/10.We introduced GCA (8.05 ↓0.86%) as a long idea approximately 4-months ago, since that time shares have appreciated more than 20%. GCA will report its 4Q09 earnings after the market closes on Tuesday, February 23rd....
READ MORE >This report was originally published on 2/21/10.Our entry for chart of the week is sure to send a painful reminder to shareholders of APOL(63.11 ↓0.52%) about Friday’s sell-off. APOL provided initial guidance for...
READ MORE >This report was originally published on 2/21/10.ESI released its annual 10-K filing on Friday. We wanted to provide you with a few key observations and revisit some of the original tenets of our...
READ MORE >This report was originally published on 2/15/10.We recently had the opportunity to speak with IPSU (14.82 ↓0.60%)’s CFO, Hal Mechler and other members of company management to get answers to a few lingering questions we had following the company’s 1Q10...
READ MORE >This report was originally published on 2/15/10.We wanted to provide you with an update on the performance of our SMid Cap portfolio, which we introduced on 9/3/09. As a reminder this is a “mock” portfolio with an initial value of $100 million. We plan to manage the portfolio...
READ MORE >This report was originally published on 2/11/10.A few years ago, Warren Buffet stated to Fortune magazine:“The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather...
READ MORE >This report was originally published on 2/9/10.IPSU issued its 1Q10 10-Q filing this morning. For the first time, IPSU provided P&L disclosure on Wholesome Sweeteners and Santos separately. In the past, we have argued that the company’s ownership...
READ MORE >This report was originally published on 2/9/10.In an 8-K filing this morning, COCO (17.72 ↑1.72%) disclosed its draft 2-year cohort default rate (CDR) data for FY08, which was released to...
READ MORE >This report was originally published on 2/5/10.IPSUshares are off 10%+ today following release of the company’s 1Q10 earnings results. Overall, revenues fell short of our expectations, but EPS of $14.84 (including...
READ MORE >This report was originally published on 2/4/10.IPSUwill report 1Q10 results tomorrow before the market opens. We estimate the company could report EPS in excess of $15.00 based on the company’s settlement of its...
READ MORE >This report was originally published on 2/3/10.Normally when a non-financial services company issues an earnings release that is more than 25 pages, it usually is cause for significant concern. However...
READ MORE >This report was originally published on 2/2/10.COCO reported 1Q10 results this morning. You can read the full press releasehere. Overall the company delivered upside to consensus on both the top...
READ MORE >This report was originally published on 2/1/10.We wanted to provide you with an update on the performance of our SMid Cap portfolio, which we introduced on 9/3/09. As a reminder this is a “mock” portfolio with an initial value of $100 million. We plan to manage the portfolio...
READ MORE >This report was originally published on 1/27/10.After the close today, ARP (7.65 ↓1.80%) issued a press release indicating that the company now expects to beat its prior revenue and EPS guidance for 4Q09. You can read the...
READ MORE >This report was originally published on 1/26/10.We recently conducted a survey of privately-held for-profit postsecondary education institutions. Our goal was to gain a better understanding of...
READ MORE >This report was originally published on 1/25/10.In our original report on Thomas Weisel (TWPG 3.96 ↑1.02%) Partners entitled “Getting Back to the Basics in the Capital Markets” we argued that TWPG shares were...
READ MORE >This report was originally published on 1/21/10.ESI reported 4Q09 results this morning. You can read the full press releasehere. Overall we would characterize the results as a solid beat relative to...
READ MORE >This report was originally published on 1/20/10.We introduced ARP (7.64 ↓1.93%)as an investment idea approximately 9-months ago. At that time we thought the stock had considerable upside based in...
READ MORE >This report was originally published on 1/19/10.We wanted to provide you with an update on the performance of our SMid Cap portfolio, which we introduced on 9/3/09. As a reminder this is a “mock” portfolio with an initial value of $100 million. We plan to manage the portfolio...
READ MORE >This report was originally published on 1/19/10.ESI will report 4Q09 results on Thursday, before the market opens. Here are the issues which we expect to be at the forefront of investor concerns heading into and subsequent to the company’s earnings...
READ MORE >This report was originally published on 1/13/10.Approximately 2-weeks ago we published a report highlighting our positive expectations for Darksiders, THQI (6.5 ↓0.31%)’s second major launch of owned...
READ MORE >This report was originally published on 1/13/10.Over the past 9-months we have twice introduced the shares of BGG (18.3 ↓0.27%) as a short sale candidate: once in front of the company’s 3Q09 results and the second time in advance of Briggs...
READ MORE >SELL/SHORT
$4
SELL
$50
SELL/SHORT
$45
SHORT
$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
LONG
$128
SELL/SHORT
$50
SELL/SHORT
$50
LONG
$5.50
SHORT
$50
SHORT
$28
LONG
$65
LONG
$37
PAIR TRADE
$10
PAIR TRADE
$30
LONG
$35
SHORT
$35
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$9
SHORT
$0
PAIR - LONG BGG/SHORT TTC
25%
PAIR - LONG BGG/SHORT TTC
25%
SHORT
$14.00
SHORT
$22
SHORT
$15
SHORT
$20
SHORT
$31
SHORT
$35
SHORT
$30
PAIR - LONG KNL/SHORT MLHR
25%
SHORT
$100
LONG
$8
LONG
$20
SHORT
$22
PAIR - LONG CSGP/SHORT LOOP
40%
LONG
$35
SHORT
$275
SHORT
$0