reports
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Buy the Pullback Again Our outlook remains bullish following the S&P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve. Two weeks ago, our election day Compass report (11/5/24) was titled "Buy the Pullback," and with the S&P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM) all pulling back to their respective 20-day MAs, we believe it is time to buy the pullback again. We continue to expect significant upside into year-end and the early p...
- Jonathan Chaplin
Autumn for Broadband 3Q24
In this installment of our Autumn for Broadband series, we provide a quick update on trends in the broadband market based on what we have seen from the companies that have reported so far. Adjusted for ACP, trends have improved quite significantly. We continue to expect further recovery next year, once the ACP headwind has passed.
- Jonathan Chaplin
- Jonathan Chaplin
LUMN Quick Hit: Lumen and Google sign PCF contract
The companies announced reciprocal contracts today. Lumen will use Google Cloud, the Google Vertex AI platform, and the Google Gemini model to provide network insights and AI support for customer care. At the same time, Lumen will give Google access to existing fiber and build new fiber on new routes for Google.
- Jonathan Chaplin
- Jonathan Chaplin
- Dave Nicoski
- Ross LaDuke
Vital Signs: Actionable charts
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
ATNI ATN INTERNATIONAL INC.
WYNN WYNN RESORTS LIMITED
STAA STAAR SURGICAL CO.
SATS ECHOSTAR CORPORATION CLASS A
NWPX NORTHWEST PIPE CO.
LVS LAS VEGAS SANDS CORP.
KRNT KORNIT DIGITAL LTD.
ITRI ITRON INC.
IRDM IRIDIUM COMMUNICATIONS INC.
HNRG HALLADOR ENERGY CO.
ELMD ELECTROMED
CVS CVS HEALTH CORPORATION
CRY CRYOLIFE INC.
BZH BEAZER HOMES USA INC.
ASPN ASPEN AEROGELS
ARDX ARDELYX INC
AMSC AMERICAN SUPERCONDUCTOR CORP.
LULU LULULEMON ATHLETICA INC
G2O GOLAR LNG LIMITED
LEU CENTRUS ENERGY CORPORATION
NC NACCO INDUSTRIES INC. CL A
CMCL CALEDONIA MINING CORPORATION
SNBR SLEEP NUMBER CORPORATION
YEXT YEXT
CNX CNX RESOURCES CORPORATION
GLOB GAZIT-GLOBE LTD.
MTRX MATRIX IT LTD.
MEC MAYVILLE ENGINEERING
IGMS IGM BIOSCIENCES
PWFL POWERFLEET INC
OCN OCWEN FINANCIAL CORP.
MP MP MATERIALS CORP (A)
DFH DREAM FINDERS HOMES
LUMN LUMEN TECHNOLOGIES INC.
CSIOY CASIO COMPUTER CO
HOOD ROBINHOOD MARKETS INC
RKLB ROCKET LAB USA INC
EE EXCELERATE ENERGY INC
LASE LASER PHOTONICS CORP
CMPO COMPOSECURE INC
MPTI M TRON INDUSTRIES INC
LUNR INTUITIVE MACHINES INC
WGS GENEDX HOLDINGS CORP.
BYRN BYRNA TECHNOLOGIES INC
DAVE DAVE INC
TELO TELOMIR PHARMACEUTICALS INC
BVS BAYVIEW CAPITAL TRUST I PFD 9.76%
SNCR SYNCHRONOSS TECHNOLOGIES INC.
TECX TD GLOBAL TECHNOLOGY LEADERS CAD HEDGED INDEX ETF
- Jonathan Chaplin
LUMN: What is Lumen worth now?
We skipped publishing on the implications of up to $12BN in new contracts for Lumen and others because we didn’t officially cover Lumen when the news broke, and we assumed others would get to the right insights before us (and we had our hands full with results for the companies we do cover).
- Jonathan Chaplin
Autumn for Broadband 2Q24
In this installment of our Autumn for Broadband series, we provide a quick update on trends in the broadband market based on what we have seen from the companies that have reported so far. Industry net adds were down substantially from a year ago, but trends have leveled off sequentially and they look to remain stable in 3Q24 (adjusting for one-time ACP impacts). We continue to expect growth to recover once the ACP headwind has passed.
- Jonathan Chaplin
LUMN: quick thoughts following the call
In this note we cover the implications of the big contract wins announced last week as well as our thoughts on improving trends in Mass Markets and the value that Lumen is creating in that business. Lumen’s Mass Markets business has gone from consistently disappointing to one of the better performing assets in the group. The results they are delivering are very supportive of our positive view of broadband assets generally.
- Dave Nicoski
- Ross LaDuke
BLMN BLOOMIN' BRANDS INC.
VGR VECTOR GROUP LTD.
TSN TYSON FOODS INC. CLASS A
SMG SCOTTS MIRACLE-GRO COMPANY CLASS A
RMAX RE/MAX HOLDINGS INC.
NVEC NVE CORP.
MRCY MERCURY SYSTEMS INC.
MGRC MCGRATH RENTCORP
MGPI MGP INGREDIENTS INC.
LGIH LGI HOMES INC.
LAND GLADSTONE LAND CORP.
IVZ INVESCO LTD.
DIOD DIODES INCORPORATED
D DOMINION ENERGY INC
CRMT AMERICA'S CAR-MART INC.
CPB CAMPBELL SOUP COMPANY
AWR AMERICAN STATES WATER COMPANY
ATSG AIR TRANSPORT SERVICES GROUP INC.
MBCN MIDDLEFIELD BANC CORP
UVV UNIVERSAL CORP
CFR CULLEN/FROST BANKERS INC.
TTC TORO COMPANY
UNFI UNITED NATURAL FOODS INC.
NJR NEW JERSEY RESOURCES CORPORATION
CHRW C.H. ROBINSON WORLDWIDE INC.
SJM J.M. SMUCKER COMPANY
NC NACCO INDUSTRIES INC. CL A
VFC V.F. CORPORATION
NATH NATHAN'S FAMOUS INC.
MSEX MIDDLESEX WATER CO.
GNL GLOBAL NET LEASE INC
COLD AMERICOLD REALTY TRUST
PGC PEAPACK-GLADSTONE FINANCIAL CORP.
EVRG EVERGY INC.
OCN OCWEN FINANCIAL CORP.
NBR NABORS INDUSTRIES LTD.
BALY BALLYS CORPORATION
LUMN LUMEN TECHNOLOGIES INC.
CHPT CHARGEPOINT HOLDINGS INC (A)
EVGO EVGO INC
CCSI CONSENSUS CLOUD SOLUTIONS INC
RIVN RIVIAN AUTOMOTIVE INC
PL PLANET LABS PBC
JOBY JOBY AVIATION INC
YOU CLEAR SECURE INC
GAMB GAMBERO ROSSO S.P.A.
NE NOBLE CORP (NEW)
SAFE SAFEHOLD INC.
- Vikash Harlalka
2Q24 Broadband Preview
Broadband industry growth has slowed over the last couple of quarters. For 2Q24, we expect reported broadband net adds below last year and pre-pandemic levels. We estimate that after adjusting for the one-time impact of ACP related disconnects, net adds were still below last year but were in-line with pre-pandemic levels. We think consensus expectations for the quarter are a little too negative, especially for Cable, and we expect reported adds to be slightly better than expectations.
- Vikash Harlalka
US Broadband: Updating NPS for May and June
We have now updated the broadband NPS data from our 1Q24 broadband trends report for the months of May and June. Most Cable and Fiber operators have shown an improvement in NPS over the last 3 months. FWA NPS worsened slightly closing the gap between itself and other technologies. The worsening of FWA’s NPS was driven by Verizon FWA’s NPS which continued to worsen with lower scores across all drivers.
- Jonathan Chaplin
The broadband Open Access model
We created a model to better understand the economics of Gigapower for both AT&T and Blackrock. Please use the model and give us your thoughts. The model clarifies the value of broadband assets generally. It also clarifies why we are likely to see similar JVs from Frontier, Lumen, and others. We will adapt this model for those instances in due course.
- Jonathan Chaplin
- Jonathan Chaplin
Autumn for Broadband 1Q24
In this installment of our Autumn for Broadband series, we provide a quick update on trends in the broadband market based on what we have seen from the companies that have reported so far. Industry net adds were substantially weaker in 1Q24 with all technologies seeing slower growth (except DSL which was flat). Cable was impacted the most.
- Jonathan Moreland
SPWR SUNPOWER CORPORATION
NQP NUVEEN PENNSYLVANIA INVESTMENT QUALITY MUNICIPAL FUND INC.
NXJ NUVEEN NEW JERSEY DIVIDEND ADVANTAGE MUNICIPAL FUND
MHI PIONEER MUNICIPAL HIGH INCOME TRUST
FRAF FRANKLIN FINANCIAL SERVICES CO.
ZM ZOOM VIDEO COMMUNICATIONS
MRBK INC.
RYES MERIDIAN
LUMN PATRIOT MINEFINDERS INC.
VPV LUMEN TECHNOLOGIES INC.
MEGI INVESCO PA VALUE MUNI INC TST
IZEA MAINSTAY CBRE GBL INFRASTRUCTURE MEGATRENDS FD
IZEA WORLDWIDE INC
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