The Cabot Turnaround Letter has been traveling most of this week to Texas. We’re watching our stocks closely, like always, but don’t have great email or recording tech with us, so this week’s note and podcast were prepared and recorded on Wednesday morning.
Ratings Changes:
None
Friday, September 17th, 2021 Subscribers-Only Podcast
Covering recent news and analysis for our portfolio companies and other topics relevant to value investors.
Today’s podcast is about 8 minutes and covers:
- Brief updates on:
- Altria (MO) – FDA delays its decision on marketing of e-cigarettes
- Wells Fargo (WFC) – Received a $250 million fine, Senator Elizabeth Warren calls for breaking up the bank, and the company said at a conference that its expenses were headed down.
- General Motors (GM) – Lawmakers may boost size of tax credit to buyers of union-made EVs, CFO reiterates 2021 earnings guidance.
- Pharmaceutical stocks under pressure from possible new price controls. Our names are less exposed: Viatris (VTRS), Organon (OGN), Ironwood (IRWD), Elanco (ELAN).
- Natural gas crosses $5, oil crosses $70, helping Marathon (MRO), Baker Hughes (BKR), Royal Dutch Shell (RDS/B), Vistra (VST) and Dril-Quip (DRQ).
- Elsewhere in the Market:
- Investor sentiment is dimming.
- Final Note
- El Salvador dips into bitcoin. How will this experiment turn out?
Please feel free to share your ideas and suggestions for the podcast with an email to either me at bruce@cabotwealth.com or to our friendly customer support team at support@cabotwealth.com. Due to the time limit we may not be able to cover every topic each week, but we will work to cover as much as possible or respond by email.