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TGB and HBM .... wish I owned larger positions in these copper producers. Copper prices have been flying, now over $5/lb, up from the $3's just two months ago .... I'm holding on, but would be trimming if they were large positions. Who knows where copper prices will be going ?
Did anyone do any short sales at TDA ? When I look at my transaction history at Schwab it shows the TDA short sales and the buy to covers as negative cash flows .... the short sales should be positive cash flows. Is anyone else seeing this ?
IPW -.68 to 1.37, I just picked up a few shares and placed some lower GTC bids .... it got way overbought in the mid $3's on Friday as momentum players piled on, but now looks oversold and should be good for a bounce to $1.65+.
Here's a very useful site that I frequently use for options quotes and history. The Schwab website options chain is awful. ThinkorSwim is better but not as good as the old TDA website options chain which also showed bid/ask sizes.
https://www.optionistics.com/quotes/stock-option-chains
AAOI +.46 to 11.69, looks like a good risk / reward situation looking 6 to 12 months out and I've been accumulating shares the past few days. It's volatile and I'm hoping for another dip into the $9's or $10's to add to my small position.
IPW +.72 to 2.18, congratulations on the quick double ! Unfortunately I passed on this one since they have a long history of quarterly losses and I didn't think one quarter of profits could drive the stock much higher, but I was very wrong.
GTEC -.02 to 1.54, Q1 EPS of $0.09 excluding the warrant gain and tax benefit .... but who can trust the numbers ?
I'm holding on to a tiny position in case the stock spikes higher at some point as it has in the past, but will take the loss at year end for tax purposes if I still own it.
SBOW - I sold all my uncovered shares in the low $37's and used the proceeds to add to my position in VTLE, which looks undervalued and could also be a buyout candidate.
SBOW +3.55 to 35.90, glad you own a decent sized position .... with CRGY down 7% on the news, it looks like most shareholders will select cash, in which case we may only get a 40% cash pro rata with the rest in CRGY shares. I would have preferred a bigger buyout premium, but the valuations in the O&G sector are low.
I'll probably buy more VTLE rather than own CRGY.
SBOW (32.35) bought out at $38 or 3.125 shares of CRGY (12.25). If too many shareholders select the cash option, they'll get some shares, pro rata, in lieu of cash.
pr -
SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow common stock, with the option to elect to receive all or a portion of the proceeds in cash at a value of $38 per share, subject to possible pro ration with a maximum total cash consideration for the transaction of $400 million.
Eventually the wolf will come and Wade will be right for the first time since late 2022 when he started calling for a severe bear market !
Ameritrade's options chain screen was far more efficient for active traders than Schwab's or ThinkorSwim's .... at Ameritrade one could with one click expand all expiration dates - at Schwab one has to click on each expiration date individually. So it can take 20 clicks at Schwab versus 1 click at Ameritrade to see the full picture ..... I trade loads of options and get quotes dozens of time a day, so Schwab's option chain a super time waster.
More broadly speaking, Ameritrade's website was far more efficient than Schwab's for active traders like myself. Ugh.
GME -10.38 to 38.37, looks like a good short, but very risky. It's once again a crazy meme stock. Shares are available for shorting at IB for 16% interest.
Schwab shows TDA realized gain/loss history only through gainskeeper - go to account history, then realized gain/loss, then gainskeeper.
Schwab - that is correct. TDA was much more suitable for frequent traders. Formerly I used TDA's website for trading but now I'm using ThinkorSwim which is much better than Schwab's website for placing trades and managing open orders .... ThinkorSwim has the duplicate trade feature, also one can click on the bid or ask to place an order and cancel open orders quickly with 2 clicks. I preferred the TDA website for order management over ThinkorSwim, but now ThinkorSwim is the best option for frequent traders.
TDA vs Schwab - another nice feature we're evidently losing is the earnings calendar for positions held and watchlists. It's very convenient to look at the monthly calendar and see at a glance how many positions are scheduled to report on any given day. Then click on the day to get the detailed earnings estimates for each company and also what they reported if the date has passed ....
Schwab's website is primitive compared to Ameritrade's, imho.
RMAX +.75 to 9.48 after reporting the completion of the settlement agreement - notably, the company does not expect an impact to its operating results or cash flows -
8K -
Under the Settlement Agreement, RE/MAX agreed to pay a total settlement amount of $55.0 million (the “Settlement Amount”) into a qualified settlement fund. RE/MAX paid one half of the Settlement Amount?during 2023 and expects to pay the remaining half within ten business days of the District Court’s final approval of the Settlement Agreement. In 2023, the Company recorded?a pre-tax charge for the full Settlement Amount within its Consolidated Statements of Income (Loss) with a corresponding liability recorded to accrued liabilities within its Consolidated Balance Sheets. In addition, RE/MAX agreed to make certain previously disclosed changes to its business practices. Apart from the payment of the Settlement Amount, the Company does not expect the terms of the Settlement Agreement to have a material impact on its results of operations and cash flows.
I'll soon be giving Schwab a call with my complaints, but I think it will fall on deaf ears.
I will definitely be evaluating Fidelity and Etrade as an alternative to Schwab .... the Schwab website is not trader friendly compared to Ameritrade. Very cumbersome for someone who enters many trades each day.
If I do shift business to another broker, I don't transfer the account .... I don't want it to be in limbo for several days or longer. Instead I flag it as sell only and periodically transfer the cash .....
TDA vs Schwab ..... I often have 40+ open orders at any given time since I like to scale in and out of numerous positions to profit from volatility. At TDA one can very efficiently sort orders by limit price, size, etc ..... any column is sortable, but not at Schwab .... also at TDA one can cancel orders very quickly, 10 or more at a time by clicking the box by each order or one can cancel all orders for a single security with one click. At Schwab it's very tedious to cancel a lot of orders based on what I'm seeing. It's one at a time. Ugh.
Schwab order entry is more tedious than at Ameritrade ..... I often like to enter a stack of small orders at different price points .... at Ameritrade one can click "reuse" on open or filled orders to generate a duplicate, then just change the price and submit. On Schwab it seems that there is no "reuse" feature and each order must be entered separately. And one has to acknowledge that it's similar to an existing order. A lot more clicks and trade ticket edits overall.
AAOI +.33 to 10.87, after hitting a high of 11.86 ..... the conf call was bullish on the 2nd half of 2024 and they expect an overall profitable year on an adj EPS basis .... that implies adj EPS of up to $0.60+ for the 2nd half, but that remains to be seen -
Conf Call -
With the improvement we expect in the second half, we continue to believe that 2024 can be our first full year of non-GAAP profitability since 2018.
AAOI down 20% after hours on lousy earnings and Q2 guidance ....
https://finance.yahoo.com/news/applied-optoelectronics-reports-first-quarter-201000875.html
RIOT -.12 to 10.23, I opened a small trading position in this bitcoin miner today. Q1 EPS was $0.82 thanks to a big mark to market gain in their bitcoin holdings. Obviously they'll see big fluctuations in quarterly earnings/losses as bitcoin prices move up and down. It's a volatile stock with very high weekly option premiums, so primarily I'm interested in capturing the premiums by writing covered calls and naked puts. The 52wk high is $20.65 and the chart shows technical support at around $10.
https://finance.yahoo.com/news/riot-platforms-reports-first-quarter-120000538.html
DIN -.14 to 43.44, after an earnings miss, but guidance maintained. Any thoughts ?
briefing -
Dine Brands misses by $0.24, misses on revs; reaffirms FY24 domestic comp guidance (43.55 ) :
Reports Q1 (Mar) earnings of $1.33 per share, excluding non-recurring items, $0.24 worse than the FactSet Consensus of $1.57; revenues fell 3.5% year/year to $206.24 mln vs the $210.54 mln FactSet Consensus.
Applebee's domestic comparable same-restaurant sales declined -4.6% in Q1.
IHOP's domestic comparable same-restaurant sales declined -1.7% i Q1.
Co reaffirms FY24 domestic comp guidance: Applebee's at +0-2%; IHOP at +1-3%.
"Our brands have been tested through many economic cycles in the past decades and while our first quarter results reflect the impact of consumer price sensitivity and challenging weather conditions, our fundamental business model remains steady with solid cash flow and positioning us to deliver on our guidance for the year."
IDR +.24 to 9.35, nice trading .... I'm holding on for now, averaged in at $8.67 .....
HALO +1.24 to 42.45 after hitting 44.78 earlier this morning ..... I'm holding on to my shares but wrote some June $45 calls at $1.50 .... but I wouldn't be surprised if it dips back into the high $30's at some point especially if there's a major market correction this summer.
HALO (41.21) beats Q1 estimates by 14% and maintains annual guidance -
briefing -
Halozyme Therapeutics beats by $0.10, misses on revs; reaffirms FY24 EPS guidance, revs guidance (41.21 +0.35) :
Reports Q1 (Mar) earnings of $0.79 per share, excluding non-recurring items, $0.10 better than the FactSet Consensus of $0.69; revenues rose 20.8% year/year to $195.88 mln vs the $199.74 mln FactSet Consensus.
Co reaffirms guidance for FY24, sees EPS of $3.55-3.90, excluding non-recurring items, vs. $3.52 FactSet Consensus; sees FY24 revs of $915-985 mln vs. $954.43 mln FactSet Consensus.
Announced new $750 million share repurchase program in February.
Schwab - ok I just bought a few tiny positions at Schwab ahead for my transfer from Ameritrade. I see the cost basis shown by lot. Also the account settings provide the tax lot optimizer for lot selection. Ameritrade has displays by Realized Gain/Loss, Unrealized and Pending Settlement. In pending settlement one can override the automated tax lot selection. I hope Schwab also offers this override feature. I'll be looking for it when I make my first sale .....
SSK - does Schwab have a cost basis display for portfolio holdings by lot ? At Ameritrade one can click on a security to see each purchase date, the lot size and gain or loss. One can also choose specific lots for sales for tax purposes.
Are these feature offered by Schwab ???
IART - I think it will be range bound in the mid to high $20's for the coming few months. Management has lost credibility and sentiment has changed from bullish to bearish on the stock.
IART +1.66 to 24.80 .... here are the analyst comments, fwiw - the price target cuts are rather severe.
fly -
Integra LifeSciences price target lowered to $25 from $37 at Truist
Truist analyst Richard Newitter lowered the firm's price target on Integra LifeSciences to $25 from $37 and keeps a Hold rating on the shares. The firm is adjusting its model to reflect the company's further Boston facility restart delay, also removing its previously modeled contributions, the analyst tells investors in a research note. Integra's Acclarent revenue offset the impact on the top line but not on margins, the firm states, adding that the stock's valuation discount is justified given the accumulating execution errors on the part of the company as well as its peers' faster revenue and growth prospects.
08:25 EDT IART
Integra LifeSciences price target lowered to $24 from $37 at Morgan Stanley
Morgan Stanley lowered the firm's price target on Integra LifeSciences to $24 from $37 and keeps an Underweight rating on the shares. An overall in line Q1 was "overshadowed" by another negative update on Boston facility commercialization, says the analyst, who continues to see Integra shares underperforming relative to peers over the next 12 months.
06:56 EDT IART
Integra LifeSciences price target lowered to $40 from $49 at JMP Securities
JMP Securities analyst David Turkaly lowered the firm's price target on Integra LifeSciences to $40 from $49 and keeps an Outperform rating on the shares following the Q1 results. Management noted that a third-party audit was recently conducted at its Boston facility, and the observations extended the expected relaunch timeframe for SurgiMend, PriMatrix, and several private label lines indefinitely, the analyst tells investors in a research note. While the magnitude of the financial update was not that significant, it is likely the open-ended nature of the situation from a timing standpoint that sent the stock down 20%, which JMP views as overdone.
06:45 EDT IART
Integra LifeSciences price target lowered to $26 from $42 at BofA
BofA lowered the firm's price target on Integra LifeSciences to $26 from $42 and keeps an Underperform rating on the shares. Integra does not expect to get its Boston facility back online in 2024 and the new findings from the Boston audit "are the latest in a series of setbacks" over the last two years, says the analyst, who adds that "investors have grown increasingly frustrated amidst the numerous delays." The company's updated FY24 sales guidance "looks too aggressive" and implies a second half sales ramp that "may be hard to hit," the analyst contends.
Integra LifeSciences price target lowered to $25 from $45 at Wells Fargo
Integra LifeSciences downgraded at Wells on pushout of Boston facility restart
As previously reported, Wells Fargo downgraded Integra LifeSciences to Equal Weight from Overweight with a price target of $25, down from $45. The firm had previously upgraded Integra as it had believed that the Boston facility restart would represent an inflection point and drive potential EPS upside from a return of high margin products. However, management noted that it no longer expects to resume Boston commercial distribution in 2024 as the third party audit yielded more findings than expected and more work is needed. Given that restart is not expected in 2024 and management is still working on a detailed plan without a specific timeline offered, the firm is moving to the sidelines, the analyst tells investors.
IART - maybe traders were in the stock in anticipation of good news about Boston .... they didn't get so now they are dumping. If so, it could get a bounce once the traders have finished selling. Maybe some analyst upgrades will be forthcoming based on price.
IART -5.57 to 23.32, evidently the market is viewing the earnings adjustments conservatively as I am .... not generously as you are. Good luck. It does look technically oversold and might get a decent bounce this afternoon or in the coming days ..... in which case I'd be a seller.
I highly doubt IART will get bought out at a huge premium, but good luck. HZNP doesn't change my view on what expenses are legitimate and should not be adjusted out. I don't recall the HZNP details, but maybe the company had strong growth prospects which IART does not. I would be shocked if IART gets bought out at a big premium. The business prospects don't justify it.
IART reports a HUGE difference between GAAP and adjusted EPS. For Q1 GAAP EPS was a loss of (0.04) while adjusted EPS was $0.55.
Are the adjustments all legitimate ? I think not. Just taking a quick look, amortization of intangibles is a recurring real expense for acquired assets that have a limited market life. It's analogous to depreciation expense and should not be ignored. The cash outflow flow occurs at the time of acquisition, but the expense occurs as the remaining life of the asset diminishes. It's not a free ride !
And other expense like recurring EU regulatory charges shouldn't be adjusted out either ....
So in conclusion, the forward PE is MUCH higher when one gets less generous with the GAAP to non-GAAP adjustments. I'm not so generous with the adjustments and evidently the market isn't either.
Wade - IART - are you doubling down at $24.80 ???
IART -3.74 to 25.15, clearly the market is not happy with the earnings and guidance .... I remain on the sidelines.
IDR +1.19 to 8.80, benefiting from soaring gold prices. I joined you with a few shares. Thanks for the earnings alert. Q2 earnings should be even better. Earnings untaxed for now, not sure how long that will last, need to check the 10K for operating loss carry forwards.
Thanks to everyone for the congratulations and good luck in the upcoming contest !