In today’s briefing:
- Toshiba – The New CEO And The Company Culture
- Qube Holdings BIG (7+%?) Off-Market Buyback
- BJCORP Update – Is Jalil Resigning as CEO of BJCORP?
- Weekly Stock Bullfinder – Week of 3/21
Toshiba – The New CEO And The Company Culture
- The Nikkei had an interesting article today on Toshiba’s new CEO and the company’s underlying culture.
- It addresses some inconsistencies we have seen in terms of demonstrated competence at lower levels vs. a certain lack thereof at the top.
- Ultimately though we suspect that what it reveals points to a lower chance of a privatisation
Qube Holdings BIG (7+%?) Off-Market Buyback
- Qube Holdings (QUB AU) saw a near 5% block sold Friday after the close at a small discount – likely the long-awaited CPPIB cleanup trade.
- This morning, the company announced a A$400mm off-market buyback, with record date 29 March, giving appropriate investors time to build a position.
- This should be something like 7.2-7.8% buyback, leading to 7.5-8.5% EPS accretion for 2023.
BJCORP Update – Is Jalil Resigning as CEO of BJCORP?
- My favorite stock by far in the present day is BJCORP, it had a minimum upside of 300% within 5 years with relatively little risk
- BJCORP’s new CEO Jalil was able to articulate the importance of optimal capital allocation in his 3-year turnaround strategy
- However, in a surprising turn of events, it was announced in yesterday’s local financial news that Jalil would be stepping down as CEO of BJCORP.
Weekly Stock Bullfinder – Week of 3/21
- Last week was a strong bounceback week for the S&P 500 index as it closed back over its 10WK moving average and finished the week up over 6%
- Technology and growth stocks were particularly strong on Thursday and Friday after Wednesday’s Fed meeting and closely followed yield curves already have inverted or are close to inverting
- In addition, many beaten down growth stocks saw strong moves higher as short covering occurred going into options expiration last week
Before it’s here, it’s on Smartkarma
