Archive for November, 2008
Mastercard SpendingPulse released their numbers for the first half of November:
-Apparel sales -19%. Women’s apparel -19.7%. Men’s apparel -20.5%. Footwear -11%
-Electronics and appliances -22.1%
-Luxury high-end sales -21.1%
-E-commerce -7.5%
October 2008
-Apparel sales -12.2%. Women’s apparel -18.2%. Men’s apparel -8.3%. Footwear -9.7%
-Electronics and appliances -19.9% vs. -13.8% in September
-Furniture -15.1%, home furnishings [...]
It has been widely reported in the press that Peter Thiel’s Clarium got hit on a long equities position the last couple months. Thanks to their 13F, we know as of September 30th, 2008, the long basket included:
Google (GOOG) 2.01M shares worth $811.9M
Financials Select Spyder (XLF) 54.6M shares worth $1.1B
Yahoo (YHOO) 42.65M shares [...]
“America is a like a family who over-spent for years.. has to de-lever itself.. take a long, long time for that to be completed.. I look for a long tough period for the American people”
“I am not positioned long… I am short personally quite a bit”
“So far I don’t think we had the blow to [...]
Press Release
-Revenue $134.8M, up 45% y/y. EPS 28c
-273 million K-Cup were shipped, up 62% y/y
-Increased prices by 8-12% in May 2008
-Keurig sales $74.6M, up 75% y/y
-Inventories $85.3M, up 119%
-Kraft paid $17M for perpetual license on patents
-FY2009 Guidance: Sales growth 40-45%. K-cup up 50-60%. EPS $1.20-1.30
Conference Call
-Believe market opportunity is the 90 million [...]
“It’s the single best time in my career that I’ve seen to invest.. the spread between price and value is widest it’s been in many years.. 30 or more years” - Bill Ackman
He is probably the most eloquent spokesman for the hedge-fund industry out there speaking in public forums. Too bad he is [...]
The hits just keep on coming. Intel lowered their fourth quarter guidance today after the close. It now expects revenue of $9B vs. $10.36B est. The company’s previous expectations were $10.1-10.9B.
Revenue is being affected by significantly weaker than expected demand in all geographies and market segments. In addition, the PC supply chain [...]
Best Buy cut their guidance this morning. FY2009 (February) goes to $2.30-2.90 range vs. $3.02 est., a 13.9% miss. Revenue goes to $43.7-45.5B vs. $46.23B est., a 3.5% miss.
“Since mid-September, rapid, seismic changes in consumer behavior have created the most difficult climate we’ve ever seen. Best Buy simply can’t adjust fast enough to [...]
Four words. Read this article now.
But he couldn’t figure out exactly how the rating agencies justified turning BBB loans into AAA-rated bonds. “I didn’t understand how they were turning all this garbage into gold,” he says. He brought some of the bond people from Goldman Sachs, Lehman Brothers, and UBS over for a visit. “We [...]
Fund, October, YTD
Tontine Capital Partners -65.7%, -76.8%
Passport’s Global Strategy -38%, -44%
Citadel’s Wellington -38%, -44%
Clarium -18%, -2.8%
Harbinger -5%, -13%
Paulson’s Advantage Plus +3.8%, +29.4%
Caxton Global Investment +2.6%, +7.25%
Greenlight -13%, -26%
Third Point Offshore -10.3%, -26.9%
Farallon Capital -9%, -23%
SAC -12%, -18%
Maverick Capital -6.3%, -26.5%
Viking Global Eauities III -1.1%, -2.4%
Jana Piranha -19.2%, -21.7%
Shumway Ocean +0.85%, -8.24%
Sources: Bloomberg, NYTimes, Dealbreaker
UPDATE: Added [...]
Press Release
-Revenue $163.1M, up 26% y/y. EPS 42c. FY2008 Revenue of $640.2M, up 33% y/y. EPS $1.74
-FY2009 Guidance of $660-720M. EPS $1.57-1.77. Including $5M restructuring charge that has 3c EPS impact
-$5.81/share net cash
Conference Call
-Long-term objective is to be an essential element in the best entertainment technologies used by professionals and [...]