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Company News for October 29, 2009 – Corporate Summary

Zacks Market Commentaries — Thu, 29 Oct 2009 14:20:23 +0000

• Aetna (NYSE:AET) reported third quarter earnings of 69 cents a share, 3 cents better than Zacks estimates, on revenues of $8.72 billion, up 14.4%. The company sees full year earnings of $2.75 a share

• OfficeMax (NYSE:OMX) posted third quarter earnings of 8 cents, 6 cents below Zacks estimates on inline revenues of $1.83 billion, down 12.6%. The firm issued cautious guidance, anticipating macro employment trends will not turn positive well into 2010

• Nintendo (NASDAQ:NTDOY) posted first half profits off 52% to $768 million, while sales dropped 34.5%. The company slashed its dividend for the first half by 37%

• Newmont Mining (NYSE:NEM) reported third quarter earnings of 79 cents a share, 24 cents above Zacks estimates, as revenues of $2.05 billion, up 49.5%, bested Zacks estimates of $1.78 billion

• Royal Dutch Shell (NYSE:RDS.A) reported a 73% drop in net profit, with earnings ex-items of $2.62 billion slightly ahead of estimates of $2.55 billion. The company noted, "We see some indications that energy demand and pricing are improving, but the outlook remains very uncertain and we are not expecting a quick recovery"

• Motorola (NYSE:MOT) reported third quarter results of one penny on better-than-expected revenues of $5.45 billion. The company expects fourth quarter earnings from continuing operations of 7-9 cents

• Colgate-Palmolive (NYSE:CL) reported third quarter results of $1.12, one penny above Zacks estimates, of inline revenues of $4 billion, up 0.3%

• Moody's (NYSE:MCO) reported third quarter earnings of 43 cents a share, a nickel above Zacks expectations, on better-than-expected revenues of $452 million, up 4.2%

• Procter & Gamble (NYSE:PG) posted fiscal first quarter earnings of $1.06, 9 cents above Zacks estimates, on inline revenues of $19.8 billion, down 6%

Zacks Investment Research

DrStockPick.com Stock Report! 10/28/09, UTX, PSFT, LMT, SGS, NZ, OMX

Dr. Stock Pick — Wed, 28 Oct 2009 17:38:38 +0000

Dr Stock Pick HOT News & Alerts! _______________________________________ FREE Daily Stock Alerts From DrStockPick.com _______________________________________ Wednesday October 28, 2009 DrStockPick.com Stock Report! ************************************************************** PowerSafe Technology Corporation (PSFT.PK) subsidiary Amplification Technologies Inc. (www.amplificationtechnologies.com) (ATI), is offering higher performance thermoelectrically cooled discrete amplification single photon counting solid state photodetectors. These photodetectors are mounted on a two stage thermoelectric cooler inside [...]

HP Launches New Print Apps – Analyst Blog

Zacks Market Commentaries — Thu, 10 Sep 2009 18:03:10 +0000

Hewlett-Packard (HPQ) recently said it would launch a new Print App and an App Studio portal for the holiday season to enhance web printing, helping consumers to print customized content without a PC.

The print App software is designed to work with HP’s high-end printers. To improve the speed and reduce cost of digital printing, the company had earlier unveiled graphic arts technologies and products to support its Print 2.0 strategy. HP’s Photosmart Premium with TouchSmart Web is already available in the market. The company is manufacturing commercial and specialty digital printers to work with the Photosmart and TouchSmart.

HP’s Photosmart Premium printer with TouchSmart Web will be available for $399. The new Photosmart printers feature touch technology that help users to display as well as edit and print photos and enable them to copy and scan documents. Other wireless printers are available within the range of $129 to $199 through Staples Inc. (SPLS), Best Buy (BBY), Office Depot (ODP), OfficeMax (OMX) and Amazon.com (AMZN) stores.

Hewlett-Packard also announced a host of partnerships with AOL to get Tabbloid publishing services to its sites. Moreover, it entered into an agreement with Yahoo’s (YHOO) Flickr to expand print services through Snapfish by HP.

HP's most profitable business is the Imaging and Printing Group, which boosted revenue by 6.4%, resulting in an operating margin of 15.6% in fiscal 2008 — the highest across all segments. The company is also the largest seller of printers (31% of total sales), with a 41% share of the global market. HP’s new printing solution bolsters its efforts to target the estimated $663 billion print production page value opportunity projected for 2010.

While printing is a growth area for the company, we believe the significant pricing pressure on the hardware for printers may hurt its profitability in future. We thus remain concerned about the long-term growth prospects of the printing unit.

Moreover, HP faces intense competition in its printer business from Lexmark International Group (LXK), Epson and Canon (CAJ). It is also up against Kodak (EK), which plans to increase its share in the printer market with the launch of a new digital-inkjet printer, Stream, next year. Therefore, we maintain our Neutral rating on HP.

Read the full analyst report on "HPQ"
Read the full analyst report on "SPLS"
Read the full analyst report on "BBY"
Read the full analyst report on "ODP"
Read the full analyst report on "OMX"
Read the full analyst report on "AMZN"
Read the full analyst report on "LXK"
Read the full analyst report on "CAJ"
Read the full analyst report on "EK"
Read the full analyst report on "YHOO"
Zacks Investment Research

Aspire Misery Index for the Week Ended March 20, 2009

Small Cap Pulse — Sun, 22 Mar 2009 21:33:00 +0000

Aspire Misery Index For the Week Ended March 20, 2009 For the week, the DJIA closed up 0.8%, marking the first consecutive week gain since the week ended May 2, 2008. The Samp;P gained 1.6%, while the Nasdaq gained 1.8%. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Industrial Output ndash; The Federal Reserve reported that industrial output dropped by 1.4% in February. Expectations were for a 1.2% decline. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Capacity Utilization ndash; Fell to 67.4% last month, the lowest level on record since 1948. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Profit Warnings ndash; Energy Conversion Devices, Gray Television, Xerox, Sony Ericsson, middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Initial jobless claims came in a 646,000, down 12,000, while continuing claims came in at 5.47 million. Weekly claims were less than expected while continuing claims came in higher than expected. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Job Cuts ndash; Energy Conversion Devices (about 75 jobs), Baker Hughes (another 1,500 jobs), Raleigh Media (78 jobs), Nokia (1,700 jobs), Lexington Dispatch (83 jobs), Crane amp; Co. (70 jobs), Caterpillar (laying off 2,454 workers), nbsp;American Power Conversion (75 jobs), Anchorage Daily News (45 jobs), Pacific Capital (laying off 300 workers), Timken (65 jobs), Finnair (temporary layoff of 1,600 workers), Day-Brite Group (45 jobs),nbsp;nbsp; middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; State Unemployment ndash; Washingtonrsquo;s unemployment rate hit 8.4% in February, Tennesseersquo;s jobless rate hit 9.1%, Minnesotarsquo;s jobless rate hit 8.1%, Massachusetts hit 7.8%, Ohio hit 9.4%, Californiarsquo;s jobless rate hit 10.5%, nbsp;Rhode Island hit 10.5%, Arizona hit 7.4%, middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Ratings Cuts ndash; Samp;P cut ATamp;T, Fitch cut Hovnanian, Samp;P cut Energy Partners, Samp;P cut General Growth, Samp;P cut Huntsman, Samp;P cut Samp;T Bancorp, Moodyrsquo;s cut Harrahrsquo;s, Samp;P cut Quiksilver, Moodyrsquo;s cut Saks, Samp;P cut Textron, Moodyrsquo;s cut ArvinMeritor, Samp;P cut Six Flags, Fitch cut Kennametal, Moodyrsquo;s cut Principal Financial, Samp;P cut MediaNews, Samp;P cut Freedom, Moodyrsquo;s cut MGM Mirage, Samp;P cut MGM Mirage, Moodyrsquo;s cut Dycom, Samp;P cut Doral Financial, Samp;P cut OfficeMax, middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Chapter 11 ndash; Chemtura (US units), the Greenbrier, Fairchild, middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Banks ndash; FirstCity Bank in Georgia was shut down, making it thenbsp;eighteenth failure this year of a federally insured bank (the total in 2008 was 25). The deposit insurance fund, which is that lsquo;security blanketrsquo; offered up to banking customers by the FDIC, is down to $18.9 billion as of December 31, compared with $52.4 billion at the end of 2007. The FDIC had 252 banks and thrifts on its troubled institutions list at the end of 2008, up from 171 in the third quarter. US Banks lost $32.1 billion in the fourth quarter of 2008. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Lending ndash; The Treasury Department said that lending on regular business loans and on business loans backed by real estate declined in January by 41% and 45% respectively. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Credit Cards ndash; Creditnbsp; card interest is up for the fourth consecutive week, with the average APR at 11.62%, with balance transfer cards edging up to 13.15%. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Home Loans ndash; About $1.4 trillion in home loans were made last year, down about a third from 2007. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Mortgage Fraud ndash; The Mortgage Asset Research Institute reported that the number of mortgage fraud reports among loans made last year grew by 26% on a Y/Y basis. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Auto Loans ndash; The percentage of auto loans past due 60 days or more rose 8.9% in the Q4 of 2008 on a Y/Y basis to 0.86%. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Airlines ndash; Passenger revenue fell 19% in February, middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Closing the Doors ndash; Lexington Dispatch closing two North Carolina plants,

Earnings results and economic reports – Week 45.

Vlada Kynsky — Mon, 03 Nov 2008 09:23:00 +0000

Monday:
Economic Construction (-0.8%), ISM (42.0)
Earnings Allegheny Energy (AYE), DryShips (DRYS), Goodyear (GT), Oshkosh (OSK), Anadarko (APC), Auto Data (ADP), Herbalife (HLF), MasterCard (MA), Mohawk (MHK), Open Text (OTEX), Otter Tail (OTTR), Rock Tenn (RKT), Pitney (PBI), Principal Fin (PFG), Viacom (VIA.B)

Tuesday:
Economic Truck / Auto, Factory Orders (-1.5%)
Earnings Archer D (ADM), Emerson (EMR), FirstEnergy (FE), Graftech (GTI), Jacobs (JEC), Marvel (MVL), Rowan (RDC), RTI (RTI), Vornado (VNO), West Pharma (WST), Blue Nile (NILE), Kendle (KNDL), Ultra Petrol (UPL), Weight Watchers (WTW), W Greatbatch (GB)

Wednesday:
Economic Weekly Crude, ADP (-80K), ISM Services (48.5)
Earnings Agrium (AGU), AMBAC (ABK), Arcelor Mittal (MT), Clean Harbors (CLHB), Cognizant (CTSH), Duke (DUK), GM (GM), Molson (TAP), Quanta (PWR), Sara Lee (SLE), Time Warner (TWX), Transocean (RIG), XTO (XTO), Activision (ATVI), Central Euro Dist (CEDC), Charles River (CRL), Excel M (EXM), Leap W (LEAP), Ormat (ORA), Sina (SINA), Vulcan (VMC), Whole Foods (WFMI)

Thursday:
Economic Weekly Claims (473K), Productivity (1.0%)
Earnings AmBev (ABV), Arena (ARD), Beazer (BZH), Blackstone (BX), Bristow (BRS), DIRECTV (DTV), Dynegy (DYN), Hornbeck (HOS), James River (JRCC), Lamar (LAMR), NASDAQ (NDAQ), OfficeMax (OMX), OM Group (OMG), Toyota (TM), Wendy’s (WEN), Bally (BYI), Fluor (FLR), FMC (FTI), Fuel Systems (FSYS), Hansen Nat (HANS), Priceline (PCLN), Qualcomm (QCOM), Verisign (VRSN), Disney (DIS)

Friday:
Economic Monthly Jobs Report, Wholesale Invs, Consumer Credit
Earnings Cooper Tire (CTB), Ford (F), Sprint (S), TETRA (TTI), Tim Hortons (THI), Sotheby’s (BID)

Maverick Capital Management 13F | Lee Ainslie Hedge Fund Holdings Analysis

Richard C. Wilson — Mon, 22 Sep 2008 12:41:00 +0000

Maverick Capital

Maverick Capital Management Holdings Analysis

This post is being written as part of HedgeFundBlogger.com's Investment Securities Tool which analyzes the holdings of hedge fund managers.

Lee Ainslie started Maverick Capital back in 1993 with $38 million. Nowadays, the fund is worth $10 billion. Ainslie, like many of the other fund managers I've profiled, has a background rooted in learning from legendary great Julian Robertson at Tiger Management. So, due to the fact that these proteges learned from the best and have had great success running their own hedge funds, I continually try to find a reason not to follow these funds. And, needless to say I'm never successful. Some contacts over at Maverick have explained that their hedge fund strategy is straight up stock picking, both long and short. They made it clear though, that they do not employ pairs trades. Although, some of their long/short setups might be in the same sector. They try to hedge their positions like a true hedge fund by picking out the shining stars in certain sectors, as well as identifying the pieces of garbage. Now, of course, this presents us with a problem in that the 13F filings only show long positions (unless they're holding puts on a name, we can see those). So, a good amount of Maverick's portfolio (the entire short side) is unbeknownst to us, because they have reported zero put positions. But, let's look on the bright side in that we can see all their long positions. Maverick uses a value approach (obviously learned from Julian) and one of their most popular metrics is finding companies and comparing their enterprise value to sustainable free cash flow.

So, now that we've got a little background on Maverick, let's see what they were up to. The following are Maverick Capital's current holdings as of June 30th 2008, as released in their most recent 13F filing with the SEC. The positions in this most recent 13F were compared to last quarter's 13F and here are the changes made to their portfolio:

New Positions:
First Solar (FSLR): 1,202,118 shares. This position is 2.93% of Maverick's portfolio.
Lorillard (LO): 3,820,856 shares. This position is 2.36% of Maverick's portfolio.
CVS Caremark (CVS): 5,912,073 shares. This position is 2.09% of Maverick's portfolio.
Netapp (NTAP): 9,331,862 shares. This position is 1.81% of Maverick's portfolio.
ITT Educational Services (ESI): 2,422,090 shares. This position is 1.79% of Maverick's portfolio.
Macy's (M): 9,008,174 shares. This position is 1.56% of Maverick's portfolio.
Hansen Natural (HANS): 5,712,952 shares. This position is 1.47% of Maverick's portfolio.
Polo Ralph Lauren (RL): 2,431,244 shares. This position is 1.36% of Maverick's portfolio.
Dicks Sporting Goods (DKS): 7,589,473 shares. This position is 1.20% of Maverick's portfolio.
Cigna Corp (CI): 2,931,045 shares. This position is 0.93% of Maverick's portfolio.
Digital River Inc (DRIV): 1,974,144 shares. This position is 0.68% of Maverick's portfolio.
Viacom Inc (VIA): 2,442,500 shares. This position is 0.67% of Maverick's portfolio.
Forest Labs (FRX): 1,789,900 shares. This position is 0.56% of Maverick's portfolio.
Lamar Advertising (LAMR): 1,542,918 shares. This position is 0.50% of Maverick's portfolio.
Visa (V): 565,005 shares. This position is 0.41% of Maverick's portfolio.
South Financial Group (TSFG): 50,000 shares. This position is 0.38% of Maverick's portfolio.
Athena Health (ATHN): 1,245,819 shares. This position is 0.34% of Maverick's portfolio.
National City Corp (NCC): 6,625,176 shares. This position is 0.28% of Maverick's portfolio.
Sohu.com Inc (SOHU): 170,485 shares. This position is 0.11% of Maverick's portfolio.
MSCI Inc (MXB): 287,186 shares. This position is 0.09% of Maverick's portfolio.
Universal American (UAM): 1,004,391 shares. This position is 0.09% of Maverick's portfolio.
Comscore (SCOR): 436,640 shares. This position is 0.09% of Maverick's portfolio.
Citizens Republic Bancorp (CRBC): 937,500 shares. This position is 0.02% of Maverick's portfolio.

Added to:
Berkshire Hathaway (BRK.B): Increased position by 1412%. Position is now 0.45% of their portfolio.
Gmarket (GMKT): Increased position by 317%. Position is now 0.19% of their portfolio.
Infinera (INFN): Increased position by 171%. Position is now 0.54% of their portfolio.
American Capital (ACAS): Increased position by 141%. Position is now 0.30% of their portfolio.
Nordstrom (JWN): Increased position by 136.61%. Position is now 2.79% of their portfolio.
America Movil (AMX): Increased position by 129.88%. Position is now 3.91% of their portfolio.
Lexmark (LXK): Increased position by 109.39%. Position is now 1.42% of their portfolio.
Citrix (CTXS): Increased position by 109.36%. Position is now 2.20% of their portfolio.
Bank of New York Mellon (BK): Increased position by 55.42%. Position is now 3.15% of their portfolio.
Baxter Intl (BAX): Increased position by 51.69%. Position is now 2.90% of their portfolio.
Advanced Micro Devices (AMD): Increased position by 45.89%. Position is now 2.87% of their portfolio.
Raytheon (RTN): Increased position by 41.72%. Position is now 2.58% of their portfolio.
Fidelity National Info (FIS): Increased position by 40.56%. Position is now 2.05% of their portfolio.
Covidien (COV): Increased position by 32.99%. Position is now 2.32% of their portfolio.
Liberty Media Corp (LMDIA): Increased position by 28.09%. Position is now 1.59% of their portfolio.
Resmed (RMD): Increased position by 26.46%. Position is now 0.74% of their portfolio.
Burlington Northern (BNI): Increased position by 22.73%. Position is now 1.83% of their portfolio.
Google (GOOG): Increased position by 22.27%. Position is now 1.72% of their portfolio.
Genentech (DNA): Increased position by 21.38%. Position is now 1.40% of their portfolio.
Zimmer Holdings (ZMH): Increased position by 20.28%. Position is now 1.73% of their portfolio.
Cypress Bioscience (CYPB): Increased position by 19.98%. Position is now 0.20% of their portfolio.
Apple (AAPL): Increased position by 19.45%. Position is now 4.09% of their portfolio.
Research in Motion (RIMM): Increased position by 15.41%. Position is now 4.08% of their portfolio.
MetroPCS Comm (PCS): Increased position by 13.6%. Position is now 0.77% of their portfolio.
Home Inns & Hotels (HMIN): Increased position by 7.72%. Position is now 0.54% of their portfolio.
Gilead Sciences (GILD): Increased position by 6.66%. Position is now 2.37% of their portfolio.
Marvell Technology (MRVL): Increased position by 5.24%. Position is now 3.08% of their portfolio.
Newstar Financial (NEWS): Increased position by 5.21%. Position is now 0.14% of their portfolio.
Cardinal Health (CAH): Increased position by 3.33%. Position is now 1.56% of their portfolio.
Amylin Pharma (AMLN): Increased position by 2.84%. Position is now 0.58% of their portfolio.
Discovery Holding (DISCA): Increased position by 1.74%. Position is now 1.21% of their portfolio.
Palm (PALM): Increased position by 1.40%. Position is now 0.51% of their portfolio.
Lumber Liquidators (LL): Increased position by 1.14%. Position is now 0.26% of their portfolio.
China Nepstar (NPD): Increased position by 0.75%. Position is now 0.18% of their portfolio.
First Advantage (FADV): Increased position by 0.65%. Position is now 0.15% of their portfolio.
Under Armour (UA): Increased position by 0.17%. Position is now 0.83% of their portfolio.
Mylan Inc (MYL): Increased position by 0.06%. Position is now 1.09% of their portfolio.
Monsanto (MON): Increased position by 0.04%. Position is now 1.68% of their portfolio.
Potash (POT): Increased position by 0.03%. Position is now 2% of their portfolio.

Reduced positions:
Thermo Fisher (TMO): Reduced their position by 4.91%. Position is now 1.68% of their portfolio.
Western Union (WU): Reduced their position by 10.2%. Position is now 2.08% of their portfolio.
Marsh & Mclennan (MMC): Reduced their position by 12%. Position is now 1.55% of their portfolio.
Textron Inc (TXT): Reduced their position by 18.93%. Position is now 1.44% of their portfolio.
Wyeth (WYE): Reduced their position by 20.6%. Position is now 1.46% of their portfolio.
Leap Wireless (LEAP): Reduced their position by 23.40%. Position is now 0.39% of their portfolio.
Trubion Pharma (TRBN): Reduced their position by 24.38%. Position is now 0.04% of their portfolio.
Dish Network (DISH): Reduced their position by 27.75%. Position is now 1.13% of their portfolio.
Avon Products (AVP): Reduced their position by 33.23%. Position is now 1.36% of their portfolio.
JP Morgan Chase (JPM): Reduced their position by 38.68%. Position is now 0.89% of their portfolio.
Cognizant (CTSH): Reduced their position by 42.97%. Position is now 0.85% of their portfolio.
DirecTV (DTV): Reduced their position by 49.69%. Position is now 0.83% of their portfolio.
Suntrust Banks (STI): Reduced their position by 50%. Position is now 0.16% of their portfolio.
Gamestop (GME): Reduced their position by 51.64%. Position is now 0.81% of their portfolio.
Corcept (CORT): Reduced their position by 57.49%. Position is now 0.01% of their portfolio.
Bluefly (BFLY): Reduced their position by 90%. Position is now 0.11% of their portfolio.
Berkshire Hathaway (BRK.A): Reduced their position by 95%. Position is now 0.66% of their portfolio.

Removed Positions (Positions Maverick sold out of completely):
Hanesbrands (HBI)
Autozone (AZO)
Bankrate (RATE)
CNET (CNET)
Crocs (CROX)
Cumulus Media (CMLS)
Harmonic (HLIT)
Loews (L)
Move Inc (MOVE)
Nucor (NUE)
OfficeMax (OMX)
Qualcomm (QCOM)
Salesforce (CRM)
Sandisk (SNDK)
Sears (SHLD)
Starbucks (SBUX)
UnitedHealth (UNH)

Positions with no change:
VMWare (VMW). Position is 0.59% of their portfolio.
BPW Acquisition (BPW). Position is 0.18% of their portfolio.
FIrst Marblehead (FMD). Position is 0.05% of their portfolio.
Ultra Clean Holdings (UCTT). Position is 0.01% of their portfolio.
Vivus (VVUS). Position is 0.01% of their portfolio.

Top 20 holdings by % of portfolio:
1. Apple (AAPL): 4.09% of the portfolio
2. Research in Motion (RIMM): 4.08% of the portfolio
3. America Movil (AMX): 3.91% of the portfolio
4. Bank of New York Mellon (BK): 3.15% of the portfolio
5. Marvell Tech (MRVL): 3.08% of the portfolio
6. First Solar (FSLR): 2.93% of the portfolio
7. Baxter Intl (BAX): 2.90% of the portfolio
8. Advanced Micro (AMD): 2.87% of the portfolio
9. Nordstrom (JWN): 2.79% of the portfolio
10. Raytheon (RTN): 2.58% of the portfolio
11. Gilead (GILD): 2.37% of the portfolio
12. Lorillard (LO): 2.36% of the portfolio
13. Covidien (COV): 2.32% of the portfolio
14. Citrix (CTXS): 2.20% of the portfolio
15. CVS Caremark (CVS): 2.09% of the portfolio
16. Western Union (WU): 2.08% of the portfolio
17. Fidelity National Info (FIS): 2.05% of the portfolio
18. Potash (POT): 2.00% of the portfolio
19. Burlington Northern (BNI): 1.83% of the portfolio
20. Netapp (NTAP): 1.81% of the portfolio

----------------------------------------------------

Breakdown: Maverick changed up their portfolio a decent amount over the past quarter. Most notable are their changes within their top 10 holdings. Hedge fund favorite Qualcomm (QCOM) was Maverick's 3rd largest holding last filing. This filing, they no longer even hold a position. Additionally, they were selling off chunks of other top 10 holdings from last quarter. They sold off 33% of their position in Avon Products (AVP), which was their 4th largest holding just one quarter ago. They also sold over 51% of their Gamestop (GME) position, which last quarter was their 7th largest holding. With those positions vacating their place in the top 10 holdings of Maverick's portfolio, new holdings obviously took their place. America Movil (AMX), another hedge fund favorite, was Maverick's 9th largest holding last time. This time, they increased their position by 129% and it is now their 3rd largest holding. They obviously used the weakness in this name to add to their position, just like fellow 'Tiger Cub' fund Lone Pine Capital. Maverick also added heavily to Nordstrom (JWN), increasing their position by 136% and making it now their 9th largest holding.

Maverick was out adding to tech across the board. Apple (AAPL) and Research in Motion (RIMM) are their top 2 largest holdings respectively, as they boosted their positions in both by over 14% each. Additionally, they added to their Marvell (MRVL) position, bringing it up to the fund's 5th largest position now. Maverick also continues to build a position in Advanced Micro Devices (AMD), as it now is their 8th largest holding.

Among their new positions this quarter are First Solar (FSLR), Lorillard (LO), and CVS Caremark (CVS). I highlight these three in particular because Maverick started large, new positions in all three names. First Solar (FSLR) was brought up all the way to the fund's 6th largest holding after not even owning shares last quarter. They started a new position in CVS Caremark (CVS) and brought it up to the fund's 15th largest holding. Also, they added heavily to Lorillard (LO) as well, making this new position their 12th largest holding. This position is interesting because we also saw Lone Pine Capital (ran by Stephen Mandel Jr.) start a new position in this exact same name. And, actually, this is not the only position that both Maverick and Lone Pine both started together. In this 13F filing, we see that Maverick started a position in Hansen Natural (HANS). And, Lone Pine recently disclosed that they have a 7.8% stake in HANS. It's definitely common to see many similar positions within the portfolios of various 'Tiger Cub' managers who now run their own funds because they all undoubtedly keep in touch and come from the same school of thought.

One last thing I would like to point out is Maverick selling completely out of various consumer related names. They sold completely out of their positions in Autozone (AZO), Hanesbrands (HBI), Sears (SHLD), Starbucks (SBUX), Crocs (CROX), and OfficeMax (OMX).

You can view their most recent 13F as filed with the SEC here.

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Permanent Link: Maverick Capital Management 13F Holdings Analysis

Tags: Maverick Capital Management, Maverick Capital Hedge Fund, Maverick Capital New York London, Maverick Capital LP LTD LLC Inc, Maverick Capital Lee Ainslie, Hedge Fund

Soyo Group Inc. (SOYO) is into Providing Electronics for the Home

QualityStocks — Tue, 26 Aug 2008 14:25:19 +0000

Soyo Group Inc. is a consumer electronics and IT products provider. Trading on the OTCBB, they have their corporate headquarters in Ontario, California, along with additional sales offices in Sao Paulo, Brazil. Established in 1985, Soyo forges strategic relationships with premier global manufacturers to deliver state-of-the-art affordable products to consumers. Originally an expert manufacturer of designer [...]