This week’s Friday Update includes comments on our companies. There were no ratings changes or earnings reports.
Friday, June 10, 2022, Subscribers-Only Podcast:
Covering recent news and analysis for our portfolio companies and other topics relevant to value/contrarian investors.
Today’s podcast is about 11 minutes and covers:
- Comments on other recommended companies:
- Credit Suisse (CS) – more bad news on earnings; our view on State Street rumors; the bank needs a complete overhaul.
- Western Digital (WDC) – signs agreement with activist Elliott Management and is reviewing a possible split-up. Are they playing a high-stakes game with their interest in Kioxia?
- Toshiba (TOSYY) – CEO says he wants to keep company intact, but this is a stall tactic.
- TreeHouse Foods (THS) – CFO resigns for another job ... a sign that activist investor Jana Partners is doing its job?
- Goodyear Tire & Rubber (GT) – Recalls 173,000 tires.
- Elsewhere in the market:
- Inflation – CPI understates inflation, “core” CPI is laughable, and is June CPI likely to be even worse?
- Will 10-Year Treasury yield reach 5%? Odds are rising.
- Will Fed Chair Powell resign before his term is up?
- Final note:
- Boston Celtics – view from the fair-weather seats.
Please know that I personally own shares of all Cabot Turnaround Letter recommended stocks, including the stocks mentioned in this note.
Please feel free to share your ideas and suggestions for the podcast and the letter 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 and space limits we may not be able to cover every topic, but we will work to cover as much as possible or respond by email.
Please know that I personally own shares of all Cabot Turnaround Letter recommended stocks, including the stocks mentioned in this note.
| Market Cap | Recommendation | Symbol | Rec. Issue | Price at Rec. | 6/9/22 | Current Yield | Current Status |
| Small cap | Gannett Company | GCI | Aug 2017 | 9.22 | 3.54 | - | Buy (9) |
| Small cap | Duluth Holdings | DLTH | Feb 2020 | 8.68 | 11.10 | - | Buy (20) |
| Small cap | Dril-Quip | DRQ | May 2021 | 28.28 | 30.65 | - | Buy (44) |
| Small cap | ZimVie | ZIMV | Apr 2022 | 23.00 | 20.00 | - | Buy (32) |
| Mid cap | Mattel | MAT | May 2015 | 28.43 | 23.90 | - | Buy (38) |
| Mid cap | Conduent | CNDT | Feb 2017 | 14.96 | 5.25 | - | Buy (9) |
| Mid cap | Adient plc | ADNT | Oct 2018 | 39.77 | 37.27 | - | Buy (55) |
| Mid cap | Lamb Weston Holdings | LW | May 2020 | 61.36 | 67.42 | 1.5% | Buy (85) |
| Mid cap | Xerox Holdings | XRX | Dec 2020 | 21.91 | 18.54 | 5.4% | Buy (33) |
| Mid cap | Ironwood Pharmaceuticals | IRWD | Jan 2021 | 12.02 | 12.16 | - | Buy (19) |
| Mid cap | Viatris | VTRS | Feb 2021 | 17.43 | 11.62 | 4.1% | Buy (26) |
| Mid cap | Organon & Co. | OGN | Jul 2021 | 30.19 | 36.39 | 3.1% | Buy (46) |
| Mid cap | Marathon Oil | MRO | Sep 2021 | 12.01 | 31.25 | 1.0% | SELL |
| Mid cap | TreeHouse Foods | THS | Oct 2021 | 39.43 | 37.90 | - | Buy (60) |
| Mid cap | Kaman Corporation | KAMN | Nov 2021 | 37.41 | 37.98 | 2.1% | Buy (57) |
| Mid cap | The Western Union Co. | WU | Dec 2021 | 16.40 | 17.47 | 5.4% | Buy (25) |
| Mid cap | Brookfield Re | BAMR | Jan 2022 | 61.32 | 48.95 | 1.1% | Buy (93) |
| Mid cap | Polaris | PII | Feb 2022 | 105.78 | 106.23 | - | Buy (160) |
| Mid cap | Goodyear Tire & Rubber | GT | Mar 2022 | 16.01 | 13.01 | - | Buy (24.50) |
| Mid cap | M/I Homes | MHO | May 2022 | 44.28 | 45.04 | - | Buy (67) |
| Mid cap | Janus Henderson Group | JHG | Jun 2022 | 27.17 | 26.50 | 5.9% | Buy (67) |
| Large cap | General Electric | GE | Jul 2007 | 304.96 | 74.78 | 0.4% | Buy (160) |
| Large cap | Shell plc | SHEL | Jan 2015 | 69.95 | 59.53 | 3.4% | Buy (60) |
| Large cap | Nokia Corporation | NOK | Mar 2015 | 8.02 | 4.85 | 1.9% | Buy (12) |
| Large cap | Macy’s | M | Jul 2016 | 33.61 | 23.96 | 2.6% | HOLD |
| Large cap | Credit Suisse Group AG | CS | Jun 2017 | 14.48 | 6.52 | 4.0% | Buy (24) |
| Large cap | Toshiba Corporation | TOSYY | Nov 2017 | 14.49 | 21.30 | 3.0% | Buy (28) |
| Large cap | Holcim Ltd. | HCMLY | Apr 2018 | 10.92 | 9.84 | 4.5% | Buy (16) |
| Large cap | Newell Brands | NWL | Jun 2018 | 24.78 | 19.98 | 4.6% | Buy (39) |
| Large cap | Vodafone Group plc | VOD | Dec 2018 | 21.24 | 15.77 | 6.5% | Buy (32) |
| Large cap | Kraft Heinz | KHC | Jun 2019 | 28.68 | 37.27 | 4.3% | Buy (45) |
| Large cap | Molson Coors | TAP | Jul 2019 | 54.96 | 52.41 | 2.9% | Buy (69) |
| Large cap | Berkshire Hathaway | BRK.B | Apr 2020 | 183.18 | 300.80 | - | HOLD |
| Large cap | Wells Fargo & Company | WFC | Jun 2020 | 27.22 | 42.67 | 1.9% | Buy (64) |
| Large cap | Western Digital Corporation | WDC | Oct 2020 | 38.47 | 56.58 | - | Buy (78) |
| Large cap | Elanco Animal Health | ELAN | Apr 2021 | 27.85 | 23.52 | - | Buy (44) |
| Large cap | Walgreens Boots Alliance | WBA | Aug 2021 | 46.53 | 41.72 | 4.6% | Buy (70) |
Disclosure: The chief analyst of the Cabot Turnaround Letter personally holds shares of every Rated recommendation. The chief analyst may purchase securities discussed in the “Purchase Recommendation” section or sell securities discussed in the “Sell Recommendation” section but not before the fourth day after the recommendation has been emailed to subscribers. However, the chief analyst may purchase or sell securities mentioned in other parts of the Cabot Turnaround Letter at any time.Please feel free to share your ideas and suggestions for the podcast and the letter 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 and space limits we may not be able to cover every topic, but we will work to cover as much as possible or respond by email.