Dave Nicoski ...
  • Ross LaDuke
EUR 44.97 For Business Accounts Only

Vermilion Short Shots: Technically Vulnerable Stocks

Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

ACI Worldwide

ACI Worldwide develops, markets, installs, and supports a range of software products and solutions primarily focused on facilitating real-time electronic payments. The company's payment capabilities, technologies, and solutions are marketed under the brand name Universal Payments. In addition to its own products, the company distributes, or acts as a sales agent for software developed by third parties. These products and services are used globally by banks, financial intermediaries, and a range of transaction-generating endpoints, including automated teller machines, merchant point-of-sale terminals, bank branches, mobile phones, tablets, corporations, and internet commerce sites.

Advance Auto Parts Inc.

Advance Auto Parts is an automotive aftermarket parts provider in North America, serving both professional installers and do-it-yourself customers as well as independently owned operators. The company's stores and branches provide a selection of brand name, original equipment manufacturer and private label automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks. The company operates stores and distribution branches within the U.S., with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands under the trade names Advance Auto Parts, Carquest, Autopart International, and Worldpac.

Advanced Energy Industries Inc.

Advanced Energy Industries designs, manufactures, sells and supports power conversion products that convert power into various usable forms. The company's products enable manufacturing processes that use thin film technology for products such as semiconductor devices, flat panel displays, thin film renewables, architectural glass, optical coating and consumer products decorative and functional coating. The company also supplies thermal instrumentation products for temperature measurement and control for multiple industrial markets. The company's network of global service support centers provides repair services, conversions, improvements, and refurbishments and used equipment to companies using its products.


AdvanSix is a manufacturer of Nylon 6, a polymer resin which is a synthetic material used by the company's customers to produce plastics, fibers, filaments and films that, in turn, are used in such end-products as automotive and electronic components, carpets, sports apparel, fishing nets and food and industrial packaging. The company also sells other products including caprolactam, ammonium sulfate fertilizers, and other chemical intermediates. The company sells its Nylon 6 resin under the Aegis? brand name, its nylon films under the Capran? brand name and its ammonium sulfate fertilizer under the Sulf-N? brand name. Chemical intermediates are also sold under the brand names of Nadone?, Naxol? and EZ-Blox?.

AES Corp.

AES is a holding company. Through its subsidiaries, the company operates a portfolio of electricity generation and distribution businesses. The first business line is generation, where the company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The second business line is utilities, where the company owns and/or operates utilities to generate or purchase, distribute, transmit and sell electricity to end-user customers in the residential, commercial, industrial and governmental sectors within a defined service area. In certain circumstances, the company's utilities also generate and sell electricity on the wholesale market.

Alexion Pharmaceuticals Inc.

Alexion Pharmaceuticals is a global biopharmaceutical company focused on serving patients and families affected by rare diseases through the development and commercialization of therapies. The company is engaged in complement inhibition and has developed and commercialized two complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria, as well as the complement inhibitor to treat atypical hemolytic uremic syndrome and anti-acetylcholine receptor antibody-positive generalized myasthenia gravis. In addition, the company has two enzyme replacement therapies for patients with metabolic disorders, hypophosphatasia and lysosomal acid lipase deficiency.

Allison Transmission Holdings

Allison Transmission Holdings is a holding company. Through its subsidiaries, the company manufactures fully-automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles. The company's transmissions are in used various applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (mainly school, transit and electric hybrid-transit), motorhomes, off-highway vehicles and equipment (mainly energy, mining and construction) and defense vehicles (wheeled and tracked). The company also sells replacement parts, support equipment and other products to service the installed base of vehicles utilizing its transmissions.

Apache Corp.

Apache is an independent energy company that explores for, develops, and produces natural gas, crude oil, and natural gas liquids. The company had exploration and production operations in three geographic areas: the U.S., Egypt, and offshore the U.K. in the North Sea. The company also has exploration interests in Suriname.

Astronics Corp.

Astronics is a provider of technologies to the aerospace, defense and electronics industries. The company has two reportable segments, Aerospace and Test Systems. The company's Aerospace segment designs and manufactures products for the global aerospace industry. Product lines include lighting and safety systems, electrical power generation, distribution and motions systems, aircraft structures, avionics products, systems certification, and other products. The company's Test Systems segment designs, develops, manufactures and maintains automated test systems that support the aerospace, communications and weapons test systems as well as training and simulation devices for both commercial and military applications.

Autodesk Inc.

Autodesk is a design software and services company. The company is engaged in 3D design, engineering and entertainment software and services. The company's product offerings include: AutoCAD, which is a customizable and extensible CAD application for design, drafting, detailing, and visualization; AutoCAD Civil 3D, which provides surveying, design, analysis, and documentation solution for civil engineering; CAM Solutions, which is a computer-aided manufacturing software that provides solutions for computer numeric control machining, inspection, and modeling for manufacturing; and Inventor, which provides tools for 3D mechanical design, simulation, analysis, tooling, visualization, and documentation.

Avanos Medical Inc

Avanos Medical is a medical technology company focused on delivering medical device solutions to healthcare providers and patients in more than 90 countries with manufacturing facilities in the United States, Mexico, France, Germany and Tunisia. The company provides a portfolio of product offerings focused on respiratory and digestive health, along with surgical and interventional pain management. These products include post-operative pain management solutions, minimally invasive interventional (or chronic) pain therapies, closed airway suction systems and enteral feeding tubes. Products are sold under the ON-Q, COOLIEF, MICROCUFF, MIC-KEY, HOMEPUMP, CORTRAK, GAME READY and other brand names.


BioTelemetry is a remote medical technology company focused on delivery of health information. The company provides remote cardiac monitoring, remote blood glucose monitoring, centralized core lab services for clinical trials and original equipment manufacturing that serves both healthcare and clinical research customers. The company operates under two reportable segments: Healthcare, which is focused on the diagnosis and monitoring of cardiac arrhythmias or heart rhythm disorders; and Research, which is engaged in central core laboratory services providing cardiac monitoring, imaging services, scientific consulting and data management services for drug and medical device trials.

Boeing Co.

Boeing is an aerospace firm. The company operates in four reportable segments: Commercial Airplanes, which develops, produces and markets commercial jet aircraft; Defense, Space and Security, which engages in the research, development, production and modification of manned and unmanned military aircraft and weapons systems, surveillance and engagement, strategic defense and intelligence systems, satellite systems and space exploration; Global Services, which provides parts, maintenance, modifications, logistics support, training, data analytics and information-based services; and Boeing Capital, which facilitates, arranges, structures and provides selective financing solutions.

Cabot Corp.

Cabot is a chemicals and performance materials company. The company's segments are: Reinforcement Materials, which includes rubber blacks products used in tires and industrial products; Performance Chemicals, which manufactures and sells carbon black, specialty compounds, inkjet colorants and inks, fumed silica, fumed alumina and dispersions thereof and aerogel; Purification Solutions, which includes activated carbon products used for the purification of water, air, food and beverages, pharmaceuticals and other liquids and gases; and Specialty Fluids, which includes cesium formate brines as a drilling and completion fluid for use in high pressure and high temperature oil and gas well construction.

Cactus Inc

Cactus is primarily engaged in the design, manufacture and sale of wellhead and pressure control equipment. The company's products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers' wells. The company also provides field services for all of its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment as well as provides repair and refurbishment services. The company's principal products include its Cactus SafeDrill? wellhead systems as well as frac stacks, zipper manifolds and production trees that it designs and manufactures.

Cameco Corp.

Cameco and its subsidiaries are engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. Co. has three reportable segments: uranium, which explores for, mines, mills, purchases, and sells uranium concentrate; fuel services, which refines, converts and fabricates uranium concentrate, and purchases and sells conversion services; and electricity, which generates and sells electricity through its 31.6% interest in the Bruce Power Limited Partnership, which operates four nuclear reactors and manages the overall site in southern Ontario.

Caterpillar Inc.

Caterpillar manufactures construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company's operating segments include: Construction Industries, which provides machinery for infrastructure, forestry and building construction applications; Resource Industries, which provides machinery for mining, quarry, waste, and material handling applications; Energy and Transportation, which provides reciprocating engines, turbines, diesel-electric locomotives and related parts across various related industries; and Financial Products Segment, which provides financing alternatives to customers and dealers for the company's products.

Charles Schwab Corp.

Charles Schwab is a savings and loan holding company. The company is engaged, through its subsidiaries, in wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company provides financial services to individuals and institutional clients in two segments: Investor Services, which provides retail brokerage and banking services to individual investors and retirement plan services, as well as other corporate brokerage services, to businesses and their employees; and Advisor Services, which provides custodial, trading, banking and support services as well as retirement business services to independent registered investment advisors and recordkeepers.

Chart Industries Inc.

Chart Industries is a manufacturer of equipment for the industrial gas, energy, and biomedical industries. The company has three segments: Energy and Chemicals, which facilitates natural gas, petrochemical processing, petroleum refining, power generation and industrial gas companies; Distribution and Storage (D&S) Eastern Hemisphere, which designs, manufactures, and services cryogenic solutions for the storage and delivery of cryogenic liquids used in industrial gas and liquefied natural gas (LNG) applications; and D&S Western Hemisphere, which designs, manufactures, and services cryogenic solutions for the storage and delivery of cryogenic liquids used in industrial gas and LNG applications.

Cheesecake Factory Inc.

The Cheesecake Factory operates casual dining restaurants. The company operates Company-owned restaurants under: The Cheesecake Factory?, which provides menu including appetizers, pizza, seafood, steaks, chicken, burgers, small plates, pastas, salads, sandwiches and omelettes, and gluten-free items; Grand Lux Cafe?, which provides American dishes and international favorites, including appetizers, pasta, seafood, steaks, chicken, burgers, salads, and desserts; and RockSugar Southeast Asian Kitchen?, which showcases the cuisines of Thailand, Vietnam, Malaysia, Singapore, Indonesia and India. The company also produces desserts for its restaurants, international licensees and third-party bakery customers.

Citrix Systems Inc.

Citrix Systems markets and licenses its solutions through various channels worldwide, including selling through resellers and direct over the Web. The company's secure digital workspace technologies are available as cloud services and can be managed as hybrid and multi-cloud environments. The company provides subscription-based and on-premise subscription software and perpetual licenses for its solutions, along with annual subscriptions for software updates and technical support. Customer Success Services, which include software maintenance subscriptions, give customers the right to upgrade to new software versions if and when any updates are delivered during the subscription term.


Codexis discovers, develops and sells proteins to its clients. The company's products include protein catalysts, chemical intermediates and Codex? Biocatalyst Panels and Kits. The company manages its business as two business segments: Performance Enzymes and Novel Biotherapeutics. In Performance Enzymes, the company has also used the technology to develop customized enzymes for use in other industrial markets and enzymes for customers using NGS and PCR/qPCR for in vitro molecular diagnostic and molecular biology research applications. In Novel Biotherapeutics, the company has a primary program for the potential treatment of hyperphenylalaninemia (also referred to as PKU) in humans.

Cohu Inc.

Cohu provides semiconductor test equipment and services. The company's products include semiconductor test, which is used for wafer level and device package testing; semiconductor handlers, which are used to automate the testing and inspection of packaged semiconductor devices; thermal sub-systems, which provide temperature control of the integrated circuit during the testing process; bare board printed circuit board (PCB) test systems, which are used to test pre-assembly PCBs; interface products, which consist of test contactors and probe pins; spares and kits, which provide consumable, non-consumable and spare items; and services, which performs installations and maintenance of systems sold.

Comerica Inc.

Comerica is a financial holding company, engaged in lending to and accepting deposits from businesses and individuals. The company's segments are: Business Bank, which provides commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services; Retail Bank, which provides consumer lending, consumer deposit gathering and mortgage loan origination; and Wealth Management, which provides products and services consisting of fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services.


ConocoPhillips is an exploration and production company engaged in exploring for, produceing, transporting and marketing crude oil, bitumen, natural gas, liquefied natural gas and natural gas liquids. The company's segments include: Alaska, which operates in Alaska; Lower 48, which operates in the U.S. and the Gulf of Mexico; Canada, which operates in northeastern Alberta and western Canada; Europe and North Africa, which consists of operations and exploration activities in Norway, the U.K. and Libya; Asia Pacific and Middle East, which has activities in China, Indonesia, Malaysia, Australia, Qatar, Timor-Leste and Brunei; and Other International, which has activities in Colombia and Chile.

Cooper Tire & Rubber Co.

Cooper Tire & Rubber is a manufacturer and marketer of replacement tires. In its Americas Tire Operations segment, the company manufactures and markets passenger car and light truck tires, mainly for sale in the U.S. replacement market, and also supplies passenger car tires to the North American, Mexican, Central American and South American markets. In its International Tire Operations segment, the company's U.K. entity manufactures and markets passenger car, light truck, motorcycle and racing tires and tire retread material for domestic and global markets, and its Serbian entity manufactures passenger car and light truck tires mainly for the European markets and for export to the North American segment.

CryoLife Inc.

CryoLife is engaged in the manufacturing, processing, and distribution of medical devices and implantable human tissues used in cardiac and vascular surgical procedures focused on aortic repair. The company's medical devices and processed tissues mainly include four product families: BioGlue? Surgical Adhesive; JOTEC endovascular and surgical products; On-X mechanical heart valves and surgical products; and cardiac and vascular human tissues including the CryoValve? SG pulmonary heart valve and the CryoPatch? SG pulmonary cardiac patch, both of which are processed using its proprietary SynerGraft? technology. Additional products include CardioGenesis cardiac laser therapy, PerClot? and PhotoFix?.

CSX Corp.

CSX provides rail-based freight transportation services. The company's principal operating subsidiary, CSX Transportation, Inc., provides a link to the transportation supply chain through its rail network, which serves centers in states east of the Mississippi River, the District of Columbia and the Canadian provinces of Ontario and Quebec. The company's CSX Intermodal Terminals, Inc. subsidiary owns and operates a system of intermodal terminals, primarily in the eastern U.S. and also performs drayage services (the pickup and delivery of intermodal shipments). The company's Total Distribution Services, Inc. subsidiary serves the automotive industry with distribution centers and storage locations.

Cummins Inc.

Cummins is a diesel engine manufacturer. The company's segments include: Engine, which manufactures and markets a range of diesel and natural gas powered engines; Distribution, which consists of product lines that service and/or distribute the range of the company's products and services; Components, which supplies aftertreatment systems, turbochargers, transmissions, filtration products, electronics and fuel systems for commercial diesel and natural gas applications; Power Systems, which includes power generation, industrial, and generator technologies product lines; and Electrified Power, which designs, manufactures, sells and supports electrified power systems ranging from fully electric to hybrid.

Domo Incorporated

Domo provides a cloud-based platform in the United States. The company's platform digitally connects chief executive officer to the frontline employee with the people, data, and systems in an organization, giving them access to real-time data and insights, and allowing them to manage business from smartphones. The company also offers a Programmatic Revenue Solution that brings complex data from ad servers and sell-side platforms into a set of cards and dashboards built on practices in the ad tech industry.

Ecopetrol S.A. ADS


Eldorado Resorts is a holding company. Through its subsidiaries, the company is a gaming and hospitality company that owns and operates gaming facilities. The company's properties, which are located in Ohio, Louisiana, Nevada, New Jersey, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, Illinois, Indiana and Missouri, feature slot machines and video lottery terminals, table games and hotel rooms. The company's gaming operations include hotels, restaurants, bars, entertainment, racing, retail shops and other services. The company also operates, a national account wagering service that provides online and telephone wagering on horse races.

Emerson Electric Co.

Emerson Electric designs and manufactures products and delivers services that bring technology and engineering together to provide solutions for customers in a range of industrial, commercial and consumer markets around the world. The company segments are: Automation Solutions, which provides an array of products, integrated solutions, software and services; and Commercial and Residential Solutions business, which consists of Climate Technologies and Tools and Home Products segments. Climate Technologies segment provides products and services for various areas of the climate control industry, and Tools and Home Products segment provides tools for personnel and homeowners and appliance solutions.

Energizer Holdings

Energizer Holdings is a manufacturer, marketer and distributor of household batteries, specialty batteries and lighting products, and a designer and marketer of automotive fragrance and appearance products. The company provides batteries using various technologies including lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide. The company manufactures, distributes, and markets lighting products including headlights, lanterns, children's lights and area lights. In addition to primary battery technology the company provides consumers primary rechargeable options, as well as hearing aid and specialty batteries, and products including automotive fragrance and appearance products.

EOG Resources Inc.

EOG Resources, together with its subsidiaries, explores for, develops, produces and markets crude oil and natural gas primarily in main producing basins in the U.S., The Republic of Trinidad and Tobago, The People's Republic of China, Canada and, from time to time, select other international areas.

Exelon Corp.

Exelon is a utility services holding company engaged in the generation, delivery, and marketing of energy through its subsidiary, Exelon Generation Company, LLC and the energy distribution and transmission businesses through Commonwealth Edison Company, Peco Energy Company, Baltimore Gas and Electric Company, Potomac Electric Power Company, Delmarva Power & Light Company and Atlantic City Electric Company. Through its business services subsidiary Exelon Business Services Company, LLC, the company provides its subsidiaries with a variety of support services. PHI Service Company, a subsidiary of Pepco Holdings LLC's, provides support services, including legal, finance, engineering, among others.

F5 Networks Inc.

F5 Networks is a developer and provider of application services. The company's core technology is a software platform called Traffic Management Operating System (TMOS), which enables the company's products to intercept, inspect, and act on the contents of traffic from virtually every type of internet protocol-enabled application. The company's TMOS-based offerings include software products for traffic management, network and application security, access management, web acceleration and a number of other network and application services. The company also provides distributed denial-of-service protection, application security and other application services by subscription on its cloud-based Silverline platform.

First Bancorp (Puerto Rico)

First BanCorp is a financial holding company that provides a range of financial services for retail, commercial and institutional clients. The company controls two wholly-owned subsidiaries: FirstBank Puerto Rico (FirstBank) and FirstBank Insurance Agency, Inc. (FirstBank Insurance Agency). FirstBank is a Puerto Rico-chartered commercial bank, and FirstBank Insurance Agency is a Puerto Rico-chartered insurance agency. The company has six reportable segments: Commercial and Corporate Banking; Consumer (Retail) Banking; Mortgage Banking; Treasury and Investments; U.S. Operations; and Virgin Islands Operations.


Fortive designs, develops, services, manufactures and markets professional and engineered products, software and services. The company is comprised of two reportable segments: Professional Instrumentation, which provides products, software and services used to create actionable intelligence by measuring and monitoring a range of physical parameters in industrial applications, including electrical current, radio frequency signals, distance, pressure, temperature, turbidity, radiation, and hazardous gases; and Industrial Technologies, which provides critical technical equipment, components, software and services for manufacturing, repair and transportation markets worldwide.


GoDaddy is a technology provider to small businesses, web design personnel and individuals, delivering cloud-based products and personalized Customer Care. The company provides hosting, presence and business applications products and services. The company provides applications and access to relevant third party products helping them connect to their customers, manage and grow their businesses and get found online. The company has designed and developed a set of cloud-based technology products enabling its customers to establish a digital presence, connect with their customers and manage their ventures.

Harley-Davidson Inc.

Harley-Davidson is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The company has two reportable segments: Motorcycles and Related Products, which consists of HDMC that designs, manufactures and sells at wholesale on-road Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise and related services; and Financial Services, which consists of HDFS that is engaged in the business of financing and servicing wholesale inventory receivables and retail consumer loans, primarily for the purchase of Harley-Davidson motorcycles.

Helmerich & Payne Inc.

Helmerich & Payne provides drilling services and technologies for oil and gas exploration and production companies. The company's contract drilling business is composed of three business segments: U.S. Land, Offshore and International Land. The company's U.S. Land operations are located in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia and Wyoming. The company's Offshore operations are conducted in the Gulf of Mexico. The company's International Land operations have rigs located in the following international locations: Argentina, Bahrain, Colombia, Ecuador and United Arab Emirates. The company also owns, develops and operates limited commercial real estate properties.

Herbalife Nutrition

Herbalife Nutrition is a holding company. Through its subsidiaries, the company is a nutrition company that sells its products to and through a network of independent members. The company has four product groups: weight management, which provides meal replacement, protein shakes, drink mixes, weight loss solutions and healthy snacks; targeted nutrition, which provides dietary and nutritional supplements; energy, sports and fitness, which provide products that support a healthy active lifestyle; outer nutrition, which provides facial skin care, body care, and hair care; and literature, promotional and other, which provides start-up kits, sales tools, and educational materials.

HNI Corp.

HNI is a provider of office furniture and hearth products. The company designs, manufactures and markets a range of office furniture systems and seating across a range of price points. The company's office furniture portfolio includes panel-based and freestanding furniture systems and complementary products such as seating, storage, tables and relocatable architectural walls. The company manufactures and markets prefabricated fireplaces, hearth stoves and related products. The company's line of hearth products includes a range of gas, wood and pellet burning fireplaces, inserts, stoves, facings and accessories. The company's products are marketed primarily in the U.S. and Canada.

Honda Motor ADS

Independent Bank Group Inc

Independent Bank Group is a bank holding company. Through its subsidiary, Independent Bank, the company provides a range of banking services to individual and corporate customers in the north, central and southeast Texas areas. The company is engaged in community banking activities, which include commercial and retail lending, deposit gathering, investment and liquidity management activities. The company's primary deposit products are demand deposits, money market accounts and certificates of deposit, and its primary lending products are commercial business and real estate, real estate mortgage and consumer loans.


Ingevity is a manufacturer of specialty chemicals and activated carbon materials. The company reports in two business segments: Performance Materials, which manufactures and sells hardwood-based, chemically activated carbon products, produced through a technical and specialized process primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles and boats; and Performance Chemicals, which is comprised of four application areas (pavement technologies, oilfield technologies, industrial specialties, and engineered polymers), develops, manufactures, and sells a range of specialty chemicals primarily derived from co-products of the kraft pulping process and caprolactone.


Inogen is a medical technology company that primarily develops, manufactures and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. The company's proprietary Inogen One? systems concentrate the air around the patient to provide a single source of supplemental oxygen the company markets its existing portable product offerings, the Inogen One G4 and the Inogen One G3, as single solutions for long-term oxygen therapy. The company's solutions can operate on a 24/7 basis for at least 60 months without a stationary concentrator, with minimal servicing of sieve beds, filters, and accessories.


Insperity provides an array of human resources (HR) and business solutions. The company's HR services offerings are provided through its Workforce Optimization? and Workforce Synchronization? solutions, which encompass a range of human resources functions, including payroll and employment administration, employee benefits, workers' compensation, government compliance, performance management, and training and development services, along with its cloud-based human capital management platform, its Insperity Premier? solution. The company also provides Workforce Acceleration, a human capital management and payroll service solution, as well as a number of other business performance solutions.

International Paper Co.

International Paper is a producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa, India and Russia. The company's segments are: Industrial Packaging, which manufactures containerboard, such as linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; Global Cellulose Fibers, which produces fluff pulp for making absorbent hygiene products like baby diapers, feminine care, adult incontinence and other non-woven products; and Printing Papers, which produces printing and writing papers, such as uncoated papers for use in copiers, desktop and laser printers and digital imaging.

K12 Inc.

K12 is a technology-based education company and provides proprietary and third party curriculum, software systems and educational services designed to facilitate individualized learning for students primarily in kindergarten through 12th grade. The company provides products and services to three lines of business, including Managed Public School Programs, Institutional, and Private Pay Schools and Other. The company's career readiness education solution provides online curriculum and career services to middle and high school students, under the Destinations Career Academy brand name. The company's services can be categorized into: academic support services and administrative and technology services.

KB Financial Group Inc. ADS

Lear Corp.

Lear is a supplier to the global automotive industry. The company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The company's business is organized under two reporting segments: Seating, which consists of the design, development, engineering, assembly and delivery of seat systems, as well as seat components; and E-Systems, which consists of the design, development, engineering and manufacture of complete electrical distribution systems, as well as electronic control modules, electrification products and connectivity products.

M&T Bank Corp.

M&T Bank is a bank holding company. Through its subsidiaries, the company provides individuals, corporations and other businesses, and institutions with commercial and retail banking services, including loans and deposits, trust, mortgage banking, asset management, insurance and other financial services. Banking activities are primarily focused on consumers residing in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia and on small and medium-size businesses based in those areas. Certain subsidiaries also conduct activities in other areas.

Masonite International Corp

Masonite International designs, manufactures and distributes interior and exterior doors for the new construction and repair, renovation and remodeling sectors of the residential and non-residential building construction markets. Co. manufactures a line of interior doors, including residential molded, flush, stile and rail, louver and commercial and architectural doors; door components for internal use and sale to other door manufacturers; and exterior residential steel, fiberglass and wood doors and entry systems. Co.'s portfolio of brands include Masonite®, Marshfield®, Premdor®, Mohawk®, Megantic®, Algoma®, Birchwood Best®, Lemieux®, Door-Stop™, Harring Doors™ and National Hickman™ .


Meritor is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The company serves commercial truck, trailer, military, bus and coach, construction, and other industrial OEMs and certain aftermarkets. The company's segments are: Commercial Truck and Trailer, which supplies drivetrain systems and components, including axles, drivelines and braking and suspension systems; and Aftermarket and Industrial, which supplies axles, brakes, drivelines, suspension parts and other replacement parts to commercial vehicle and industrial aftermarket customers.

Middleby Corp.

Middleby is engaged in the design, manufacture, marketing, distribution, and service of a line of foodservice equipment, food preparation, cooking, baking, chilling and packaging equipment, and kitchen equipment. The company's segments are: the Commercial Foodservice Equipment Group, which provides foodservice equipment to serve cooking, warming, refrigeration, freezing and beverage application within a commercial kitchen or foodservice operation; the Food Processing Equipment Group, which provides processing solutions for customers producing pre-cooked meat products; and the Residential Kitchen Equipment Group, which manufactures, sells and distributes kitchen equipment for the residential market.

Mueller Industries Inc.

Mueller Industries is a manufacturer of copper, brass, aluminum, and plastic products. The range of these products are: copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; PEX plastic tube and fittings; refrigeration valves and fittings; compressed gas valves; fabricated tubular products; pressure vessels; steel nipples; and insulated flexible duct systems. The company's operations are located throughout the U.S. and in Canada, Mexico, Great Britain, South Korea, the Middle East, and China. The company's reportable segments are Piping Systems, Industrial Metals, and Climate.

New Jersey Resources Corp.

New Jersey Resources is an energy services holding company whose principal business is the distribution of natural gas via a regulated utility, providing other retail and wholesale energy services to customers. The company's reporting segments include: Natural Gas Distribution, which consists of regulated natural gas services, off-system sales, capacity and storage management operations; Energy Services, which consists of unregulated wholesale and retail energy operations; Clean Energy Ventures, which consists of capital investments in clean energy projects; and Midstream, which consists of investments in the midstream natural gas market, such as natural gas transportation and storage facilities.

Plains All American Pipeline L.P.

Plains All American Pipeline is a holding company. Through its subsidiaries, the company owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL) and natural gas. The company has three operating segments: Transportation, which provides activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges; Facilities, which provides storage, terminalling and throughput services for crude oil, NGL and natural gas, as well as NGL fractionation and isomerization services and natural gas and condensate processing services; and Supply and Logistics, which provides merchant-related activities.

Plains GP Holdings L.P.

PlayAGS Inc

PlayAGS designs and supplies products and services for the gaming industry in the United States. The company offers electronic gaming machines, such as slot machines, video bingo machines, and other electronic gaming devices; and server-based systems and back-office systems that are used by casinos and other gaming locations. The company also provides table products, such as live proprietary table games and side bets, as well as ancillary table products; and interactive products, such as social casino games to play on mobile devices. The company serves casino operators in class II and class III Native American and commercial gaming enterprises.

Proto Labs Inc

Proto Labs is a digital manufacturer of custom prototypes and production parts. The company's primary manufacturing product lines include Injection Molding, which uses three-dimensional (3D) computer-aided design-to-computer numerical control (CNC) machining technology for the automated design and manufacture of molds; CNC Machining, which uses commercially available CNC machines to provide milling and turning; 3D Printing, which includes stereolithography, selective laser sintering, direct metal laser sintering, Multi Jet Fusion and PolyJet processes; and Sheet Metal, which includes e-commerce-enabled custom sheet metal parts, providing customers with prototype and low-volume production parts.

Ralph Lauren Corp

Ralph Lauren designs, markets, and distributes lifestyle products, including apparel, accessories, home furnishings, and other licensed product categories. The company's brand names include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, Chaps, and Club Monaco, among others. The company sells directly to customers via its retail stores, concession-based shop-within-shops, and through its own digital commerce sites; while its international licensing partners operated Ralph Lauren stores, Ralph Lauren concession shops, and Club Monaco stores and shops. The company has three segments: North America ; Europe; and Asia. Inc.

Salesforce.Com is engaged in customer relationship management technology. The Salesforce Customer Success Platform delivers services spanning sales, service, marketing, commerce, engagement, integration, analytics, industries, communities, enablement and collaboration, which operate on a single trusted cloud platform. Through its platform and other developer tools, the company also enables third parties to develop additional functionality and applications, or apps, that run on its platform, which are sold separately from or in conjunction with the company's service offerings. The company's cloud service offerings include sales cloud, service cloud, marketing and commerce cloud, and salesforce platform and other.


Synnex is a business process services company, providing a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement to a range of enterprises. The company has two segments: Technology Solutions, which distributes peripherals, Information Technology systems including data center server and storage solutions; and Concentrix, which provides a portfolio of strategic solutions and end-to-end business outsourcing services focused on customer engagement strategy, process optimization, technology innovation, front and back-office automation and business transformation to clients.



Teradata is a cloud analytics software provider. The company's solutions and services comprise software, hardware, and related business consulting and support services to deliver analytics across a company's entire analytical ecosystem. The company's business consulting services include a range of offerings, including consulting to help organizations establish an analytic vision, identify and operationalize analytical opportunities, enable an analytical ecosystem architecture, and ensure their analytical infrastructure delivers value. The company also provides support and maintenance services for its offerings.


Tidewater Inc.

Tidewater provides offshore marine support and transportation services to the global offshore energy industry through the operation of a fleet of marine service vessels. The company's vessels and associated vessel services provide support of several phases of offshore oil and natural gas exploration, field development and production. These services include towing of, and anchor handling for, mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover and production activities; offshore construction and seismic and subsea support; and a variety of services such as pipe and cable laying.

United Rentals Inc.

United Rentals is an equipment rental company that operates throughout the U.S. and Canada. The company's segments are: general rentals, which includes the rental of construction, aerial and industrial equipment, general tools and light equipment, and related services and activities; and trench, power and fluid solutions, which includes the rental of specialty construction products and related services. The types of equipment that the company provides include general construction and industrial equipment; aerial work platforms; trench safety equipment; power and heating, ventilating and air conditioning equipment; fluid solutions equipment; and general tools and light equipment.

VMware Inc.

VMware is engaged in the development and application of technologies with x86 server-based computing, separating application software from the underlying hardware. The company's product and service solutions are organized into three main product groups: Software-Defined Data Center, which is designed to transform the data center into an on-demand service that addresses application requirements; Hybrid Cloud Computing, which is comprised of VMware Cloud Provider Program and VMware Cloud Services; and End-User Computing solution, which consists of VMware Workspace ONE, its digital workspace platform, that includes Unified Endpoint Management and VMware Horizon application and desktop virtualization.

Wesfarmers Ltd.

Wesfarmers is engaged in the retailing operations including supermarkets, merchandise and department stores, fuel, liquor and convenience outlets; retailing of home improvement and outdoor living products and supply of building materials; retailing of office and technology products; coal mining and production; gas processing and distribution; industrial and safety product distribution; and chemicals and fertilisers manufacture; and investments. Co.'s retail operations includes Coles, which operates Coles Supermarkets, Coles Express, Liquorland, Vintage Cellars, First Choice Liquor, and Spirit Hotels, among others; while its departmental operations include Kmart and Target retailers.

Xerox Corp.

Xerox is a provider of digital print technology and intelligent work solutions. The company operates in three main areas: Intelligent Workplace Services, which includes a continuum of solutions and services consisting of managed print services, industry digital solutions, personalization and communication software, content management solutions, and digitization services; Workplace Solutions, which is made up of two product groups, Entry and Mid-Range, which share common technology, manufacturing and product platforms; and Production Solutions, which enable full-color, on-demand printing of a range of applications, including variable data for personalized content and one-to-one marketing.

Xilinx Inc.

Xilinx designs and develops programmable devices and associated technologies, including: integrated circuits (ICs) in the form of programmable logic devices (PLDs), including programmable System on Chips and three-dimensional ICs; Adaptive Compute Acceleration Platform, a multi-core heterogeneous compute platform; software design tools to program the PLDs; software development environments and embedded platforms; targeted reference designs; printed circuit boards; and intellectual property (IP), which consists of the company and third-party verification and IP cores. In addition to its programmable platforms, the company provides design services, customer training, field engineering and technical support.

Vermilion Research
Vermilion Research

Vermilion Research delivers timely, actionable, and unique research inputs to professional investors. Our research strategists highlight securities which we believe are at major inflection points, based on our various proprietary technical indicators, and offer asymmetric risk/return profiles. We believe our research methodology, which is not limited by industry sector or market capitalization, enables us to deliver superior investment recommendations.

Our process begins by organizing all actively traded stocks into coherent sectors, then into logical industry groups. We then apply our proprietary relative strength tools to identify developing price trends. Once attractive trends are identified within a selected sectors or groups, we screen for individual stocks which we believe offer the best risk/reward profile. Vermilion offers U.S. and global equity market research products. Vermilion’s research team, which has received numerous awards and accolades, has a combined 70 year of experience in the analysis of investment securities.

Dave Nicoski

Ross LaDuke

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