S&P 500 and Nasdaq 100 Testing Prior 2022 Highs Since late-February (2/25/25 Compass) we expected an 8-10% pullback to provide a buying opportunity. But that all changed in last week's Compass (4/1/25), when we downgraded our outlook to bearish/cautious, citing several concerning developments (SPX and QQQ failure at 200-day MAs, bear flag breakdowns across major indexes targeting 5100-5200 on SPX, high yield spreads widening above 355bps, major tops on market leaders NVDA and META, semiconducto...
S&P 500 Holding Above Prior Breakout Level Yet Again As discussed throughout the first half of January, we continue to believe that tariffs will mostly be used as a negotiation tactic, and much like Trump's prior presidency, will be much less impactful than feared. We reiterated this in yesterday's pre-market ETF Pathfinder, also noting "we anticipate the Canada/Mexico tariffs to be resolved relatively quickly, and therefore we view the latest pullback as a buying opportunity." Sure enough, bot...
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.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
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.
Breakout Brewing? With the 3200-3230 support level holding strong on the S&P 500, we remain constructive over the intermediate-term as outlined in our 11/3/20 Compass. Considering current market dynamics we see eventual decisive breakouts as the most likely outcome for the major averages, which justifies our positive outlook. At the same time, with the S&P 500, Russell 2000, and Nasdaq 100 climbing 7-12% in just over a week and all three testing logical resistance, we believe there is potential...
S&P 500 Getting Long-Term Oversold Note: We have suspended the Russell grids and Sector comments this week due to heightened volatility. Major indexes broke below the key support levels we were watching on the Nasdaq Composite (8,264), S&P 500 (2,855), DJI (24,681) and Russell 2000 (1,448), ushering-in additional downside. We view these levels as logical areas of potential short-term resistance moving forward. Clues that a breakdown was increasingly likely started coming as early as Thursday, wh...
Summary Sanofi Genzyme - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Key Highlights Sanofi Genzyme (Genzyme), a specialty care global business unit of Sanofi provides treatments with a focus on rare diseases, multiple sclerosis, immunology, and oncology. The major products of...
Upgrading Health Care to Overweight Ongoing bullish developments continue to support our belief that we are in the early stages of a broad-based advance following a nearly 2-year consolidation period. • Sector Relative Strength Rankings & Weighting Recommendations. We are upgrading Health Care to overweight. We initially suggested adding exposure to the Sector in late-October as biotech (IBB, XBI) and pharma (PJP, PPH, XPH) stocks were making bullish price and RS reversals. Strength has per...
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.
On July 10, President Donald Trump signed an executive order focused on improving kidney health for Americans. In tandem, the Centers for Medicare and Medicaid Services proposed four new payment models that will govern dialysis reimbursement through mid-2026. Three of the programs are voluntary and are effectively an extension and expansion of the existing Comprehensive ESRD Care Model that was set to run through 2020. More importantly, the mandatory ESRD Treatment Choices Model, or ETC, brings ...
On July 10, President Donald Trump signed an executive order focused on improving kidney health for Americans. In tandem, the Centers for Medicare and Medicaid Services proposed four new payment models that will govern dialysis reimbursement through mid-2026. Three of the programs are voluntary and are effectively an extension and expansion of the existing Comprehensive ESRD Care Model that was set to run through 2020. More importantly, the mandatory ESRD Treatment Choices Model, or ETC, brings ...
Narrow-moat DaVita posted first-quarter results that came in modestly below our expectations, but the firm appears on track to meet our outlook for the full year. The underlying source of weakness was same-facility treatment growth, which continued to decelerate to 2.4% from 2.6% in the fourth quarter of 2018. Both figures are the lowest we've seen in some time and stand in stark contrast to the 3.3% and 3.0% rates from Fresenius Medical Care's North American segment during the same periods. Whi...
Narrow-moat DaVita posted first-quarter results that came in modestly below our expectations, but the firm appears on track to meet our outlook for the full year. The underlying source of weakness was same-facility treatment growth, which continued to decelerate to 2.4% from 2.6% in the fourth quarter of 2018. Both figures are the lowest we've seen in some time and stand in stark contrast to the 3.3% and 3.0% rates from Fresenius Medical Care's North American segment during the same periods. Whi...
Fresenius Medical Care reported a first quarter that fell within our expectations. We're encouraged that the firm is beginning the year tracking well against its full-year outlook following a tumultuous 2018. As we update our model, we don't intend to change our fair value estimate of EUR 82 per share ($47 per ADR)Â for this narrow-moat franchise. With shares beginning to more convincingly converge on fair value, we'd highlight peer DaVita as an alternative investment opportunity in the space tr...
Fresenius Medical Care reported a first quarter that fell within our expectations. We're encouraged that the firm is beginning the year tracking well against its full-year outlook following a tumultuous 2018. As we update our model, we don't intend to change our fair value estimate of EUR 82 per share ($47 per ADR)Â for this narrow-moat franchise. With shares beginning to more convincingly converge on fair value, we'd highlight peer DaVita as an alternative investment opportunity in the space tr...
As the preeminent leader in the global dialysis market, Fresenius boasts a narrow economic moat underpinned by scale-derived cost advantages that we think are likely to persist over time. A close second to peer DaVita in the U.S. market, Fresenius has an additional 1,400 facilities in international regions making it the single largest dialysis service provider globally. The firm has benefited from its vertically integrated structure, operating the world's largest dialysis products business, prov...
Fresenius Medical Care reported 2018 results that largely tracked our expectations. Following a volatile third quarter, we're encouraged by the broad strength across business lines to end the year. We think this illustrates the stability that has characterized the dialysis-services market over the long term and the narrow economic moat Fresenius has been able to build. As we update our model, we may raise our EUR 79 per share fair value estimate ($49 per ADR) modestly to reflect the cash flows r...
Fresenius Medical Care reported 2018 results that largely tracked our expectations. Following a volatile third quarter, we're encouraged by the broad strength across business lines to end the year. We think this illustrates the stability that has characterized the dialysis-services market over the long term and the narrow economic moat Fresenius has been able to build. As we update our model, we may raise our EUR 79 per share fair value estimate ($49 per ADR) modestly to reflect the cash flows r...
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