Batched non-urgent financial reads – 2-23-20

Batched non-urgent financial reads – 2-23-20

  • FSLR: First Solar, Inc. (FSLR) CEO Mark Widmar on Q4 2019 Results – Earnings Call Transcript
    • Comment- After missing earings and revenue by a large margin, I was expecting a much more detailed discussion on root cause, strategy and forward modifications of strategy – not much. They did however declare they’re backlog is solid and sold out thru mid’21.
    • Conclusion: Who is the most ops efficient PV manufacturer, where are their factories and does PV space merit investment? FSLR is probably NOT the company to bet on.
  • Data Center REITs: Battle Of The Clouds
    • Comment – equinox and core are network centric and the most resilient to both pricing and demand if digital economy slows. DLR, CONE and QTS while interesting, and especially CONE and QTS, may face trouble ahead imho (or be bought obviously).
    • Conclusion: no divergence from my strategy of having these in CEF / ETFs, but not individually at these valuations and dividend yield.
  • Teva: The Road To Perdition Has Turned Into A Path Towards Redemption by The Fortune Teller
    • Comment – With 2 small speculative bond positions in TEVA, this article was helpful but seemed a bit overly optimistic on a couple of fronts. Prices have risen beyond risk / reward tolerance in my mind. Per the author, the debt outside ‘23 is risky income hold as it will probably be pushed out – replaced with lower rate bonds.
    • Conclusion: No action – hold existing bonds.
  • NUAN: 3 Reasons To Buy Nuance Communications
    • Comment – I missed this investment earlier – wanted to by ~$15 and just couldn’t pull that trigger. NUAN is the lead in medical voice activated solutions and they are now turning the corner w/ financial results. Hard to argue against their future success.
    • Conclusion: Further study required
  • Mobility/IT: CES 2020 UAM, Future Mobility Solutions
    • Comment – A CES overview from 100ft view. The one element that surfaced was around additional and new human / technical integrations – automation and digitalization of human behavior –
    • Conclusion: Deeper dive on how Toyota (and others) are investing to benefit from broader technology implementations like smart cities – are there early investment opportunities?

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