This thing got downgraded by Barclays today. OI >>> $12 That's a 29% loser in a month Stoney, with the S&P down about 6% in the same time period.
Now unlike Stoney, I'll bump my losers: If I liked it at $15.80, I love it at $13 fwiw. October $12.50 calls can be had right now for $2 Earnings will be at the end of August. There's no way they won't yield the buyer at least a 20% profit in a month... unless the bottom completely falls out of this market. Edit: Just doing comparables... >>>And look at Footlocker at $25 A 6% dividend now?! Hell I like it better than DBI What's that other one Stoney. The one you like? h/o EDIT #2 Shoe Carnival>>> $21.23 No debt 5.5 PE forward. 1.6% dividend. Similar to DBI, except DBI has way more institutional ownership. 95% vs 64% of the shares outstanding.
The thing about Designer Brands.... and no one, including Cramer, has mentioned this; but Ollies isn't the only show in town that buys up excess inventory. This is what DBI does, so I have to think they are scooping up all kinds of shoe inventories on the cheap if what we're told is true regarding excess inventories. All three of the above have weak looking charts imo, but DBI's is the better of the 3. Yep>>> Buy the Oct $12.50 calls for $2. And since Stoney doesn't think options count, we'll just call it a $2 stock. EDIT: And not just shoes btw, they buy purses, belts... lots of other accessories.
MUCKRAKING CORNER- TTNP Spec Buy Activist Investing nominates slate of director candidates for Titan board 08:11 TTNP David Lazar, CEO of Activist Investing, one of the largest stockholders of Titan Pharmaceuticals, Inc. with 25.2% of the Company's outstanding shares, issued the following statement: "We have submitted a request for the Company to hold a special meeting of the Company's stockholders to expand the size of Titan's Board of Directors by six directors and to elect our slate of six highly qualified professionals, Avraham Ben-Tzvi, Peter Chasey, Eric Greenberg, David Lazar, Matthew McMurdo and David Natan, to fill the resulting Board vacancies in order to progress the Company's previously announced review of strategic alternatives. The Nominees collectively possess decades of experience in strategic turnarounds, deal structuring, corporate governance, investment management, accounting, finance and corporate law, which we believe will be extremely additive to the Company and its ability to unlock significant stockholder value through a strategic transaction. As disclosed by the Company, the Special Meeting will be held on August 2, 2022 with a corresponding record date of July 22, 2022 to determine the stockholders entitled to vote on our proposals at the Special Meeting. We look forward to communicating further with fellow stockholders in the coming weeks and will be filing proxy materials to solicit votes to materially reconstitute the Board at the Special Meeting with our Nominees." Show Related Items >> Last Tuesday Titan announces FDA clearance of IND application for Nalmefene Implant 08:02 TTNP Titan Pharmaceuticals announced that the U.S. Food and Drug Administration, FDA, has cleared its Investigational New Drug, IND, application for a Phase 1 study of its six-month or longer subdermal formulation of nalmefene, an opioid antagonist, intended for the prevention of relapse following opioid detoxification in adults with Opioid Use Disorder, OUD. Kate Beebe DeVarney, Ph.D., President and Chief Operating Officer of Titan, commented, "FDA clearance of the IND for our ProNeura-based nalmefene implant marks an important milestone in developing a novel product that may help answer the call for long-term treatment options in addiction medicine. We are very grateful for the support we received from the National Institute for Drug Addiction, or NIDA, that enabled us to meet this objective."
Beneficial owner of Titan Pharmaceuticals (TTNP) David Lazar purchased 2,226,190 shares of company stock at 86c per share for a total transaction amount of $1,922,983 Titan Pharmaceuticals, Inc. (TTNP) NasdaqCM - NasdaqCM Real Time Price. 1.4002+0.0102 (+0.73%) As of 02:40PM EDT.
Recreational vehicles retail registrations drop in May Jul. 11, 2022 11:53 AM ET According to Baird report, May witnessed a 31% decline in Recreational Vehicles or RV retail sales, beyond expectation of high-20s percent. Towable retail declined 33% in May; motorhome retail fell 19%. Towables includes travel trailers, fifth wheels, camping trailers, and park models. Year-to-date, it is estimated that retail would be down ~22%, indicating 450K units; 2023 could face retail decline to ~420K units.
Shell to reverse up to $4.5B in writedowns of oil and gas assets Jul. 07, 2022 10:51 AM ETShell plc (SHEL) Shell (NYSE:SHEL) said last Thursday it will reverse $3.5B-$4.5B in prior writedowns on oil and gas assets in Q2, after it raised its mid-term and long-term outlook for energy prices to reflect energy market demand and supply fundamentals. In a corporate update before releasing Q2 results on July 28, Shell (SHEL) said its indicative refining margins nearly tripled over the period to $28.04/bbl from $10.23/bbl in Q1 and $4.17/bbl in the year-earlier quarter. Shell (SHEL) said the surging margins likely added $0.8B-1.2B to the results of its refined products division compared with Q1, as gasoline prices broke records in several countries. The company also said it expects Q2 production of 930K-980K boe/day and liquid natural gas liquefaction volumes of 7.4M-8M metric tons.
Shell Last quarter--earnings of $9.1 B, operating cash flow of $14.8 B, and free cash flow of $10.5 B. Refining Margin and Chemical Margin (Shell Investor Relations) Investment In Hydrogen Last week, Shell announced that they will build Europe's largest renewable hydrogen plant.
Michelin Man expects mild recession in 2023, rebound in 2024 Jul. 11, 2022 3:32 PM ET Michelin (OTCPK:MGDDF) CEO Florent Menegaux expects supply chain problems to promote a pullback and recession into the next year. The French CEO told Bloomberg in an interview that persistent issues in supply chains, specifically in semiconductors are likely to continue into the next year. He reported that the tire manufacturer itself is currently operating at 86% rather than the near full-capacity it had forecast previously. Menegaux added that new developments in Russia’s invasion of Ukraine and new lockdowns in China could also stand to extend pressure on the auto industry and broader global supply chains across industries. He told the outlet he does not expect these impacts to be reversed effectively until 2024. “We have experienced an accumulation of crises which is unprecedented,” he said. “We now know how to operate in this hectic environment.”