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Skullcandy, Inc. (SKUL) Message Board

deanmortensen 72 posts  |  Last Activity: Jun 16, 2014 10:32 AM Member since: Feb 15, 2009
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  • deanmortensen deanmortensen Jun 16, 2014 10:32 AM Flag

    hopefully, I agree with you that the spinoff of a "pure play" senior housing reit should unlock value. Prior to today, Ken Riis and Wes Edens spoke of squeezing another $100 million out of the legacy CDOs over the next 4 years, and then jacking the cash into senior housing. I anticipate SNR will trade at a lower dividend yield and higher multiple of FFO than NCT--ie, SNR will trade closer to senior housing peer valuations than Newcastle, which is viewed as a conglomeration of diverse businesses.

    Sentiment: Strong Buy

  • Reply to

    Wow nice quarter!

    by hweb2 May 12, 2014 10:17 AM
    deanmortensen deanmortensen May 12, 2014 2:54 PM Flag

    hweb2, you stated, "Seems like it (MNDO) should be trading at $3+." I think that's because MNDO should indeed be trading at $3+. The dividend yield is over 10%, even after today's 10% gain. As you point out, the debt-free balance sheet sports nearly a buck of cash per share. MIND CTI has staffed up to meet increased demand from existing and new customers. Sometimes, it pays off not to over-analyze a stock, and I think this is one of those times. MNDO is dirt cheap. What's not to like?

    Sentiment: Strong Buy

  • Reply to

    MNDO is a good buy...

    by brucethesnake Apr 30, 2014 2:55 PM
    deanmortensen deanmortensen May 12, 2014 2:38 PM Flag

    You're dreaming, pal. When you buy those MNDO shares for $1.38, you might as well pick up some Faacebook shares for $18, and why not grab some Google shares for $380 as well?

    Sentiment: Strong Buy

  • Many news reports and articles point out that 80% of e-commerce transactions in China are through Alibaba. Alibaba does more e-commerce transactions that Amazon and Ebay combined. And, the number of internet users in China is still growing rapidly, unlike in the U.S. Alibaba's revenues grew over 50% in 4Q. One could almost say that Alibaba is e-commerce in China. Alibaba is also making inroads into mobile e-commerce, as 20% of sales in 4Q were made on mobile devices, up from 7% in the year earlier quarter. I expect institutional demand for IPO shares to be very strong, because of Alibaba's dominant incumbent position in China e-commerce and its torrid growth that looks set to continue.

    I think the IPO will price at the upper end of the expected range based on voracious demand for the shares. The current market price of Yahoo! stock is not reflective of its sum-of-the-parts value, and I expect Yahoo!'s stock price to advance after a successful Alibaba IPO which is likely to be way oversubscribed.

    Sentiment: Strong Buy

  • Reply to

    Give me a logical explanation

    by yamandolio May 8, 2014 11:45 AM
    deanmortensen deanmortensen May 9, 2014 10:40 AM Flag

    Fortress needs a catalyst to get the stock price moving. The market is ignoring the embedded fees earned in its funds. Wes Edens remarked on the 4Q conference call that Fortress will "harvest" some investments made in the 2006-7 timeframe this year. Perhaps that will be the catalyst for FIG's stock price. Also, if Novogratz can come from behind, and recoup the losses in the Macro Fund and the other funds with YTD losses, that will make FIG look better.

    Sentiment: Strong Buy

  • deanmortensen by deanmortensen May 7, 2014 12:18 PM Flag

    Emulex had a previous takeover offer, and now the stock is trading at multi-year lows. Emulex's technology and IP is valuable to competitors. At this price, Q-logic or another competitor could pick up Emulex for a firesale price. Q-logic has cash on it's debt-free balance sheet, and ought to make a run at ELX. On the other hand, Emulex ought to deploy its massive cash pile to buy back its own shares. Emulex has enough cash on its balance sheet to buy back half of its outstanding shares, which would cause its EPS to double!

    Sentiment: Strong Buy

  • deanmortensen deanmortensen May 1, 2014 8:45 PM Flag

    socalpac, you claim to have listened to the ELX conference call, but your description of it is at odds with what the ELX CEO actually said on the call. From that I conclude you are short ELX. That wouldn't surprise me at all, because this board is infested with shorts. It is what it is. I doubt anybody takes this board seriously.

    Sentiment: Strong Buy

  • deanmortensen deanmortensen May 1, 2014 6:23 PM Flag

    Well, it's true that Brocade is way up in the last several months. But, I believe Elliot Management has an excellent long-term track record, and is well known on Wall Street for having a nose for cheap stocks of companies with a future. So, I'm willing to ride on the coattails of Elliot Management to take a stake in ELX.

    Sentiment: Strong Buy

  • Nice to see that Elliot Management, an activist investor, owns a big stake in Emulex. Elliot was successful in pressuring Hess Corporation to make changes last year that helped to create shareholder value. Elliot pressured Hess to sell non-core assets and focus on shale oil development in the Bakken play. I wouldn't be surprised to see Elliot pressure Emulex management to take actions to enhance shareholder value after today's 30% plunge in the stock price. Now Elliot has a substantial loss on its ELX position, and Elliot will be antsy for Emulex management to do something fast to recoup the loss.

    Sentiment: Strong Buy

  • Reply to

    Nice Earnings Beat

    by tradingplacesdan123 May 1, 2014 8:30 AM
    deanmortensen deanmortensen May 1, 2014 5:26 PM Flag

    tradingplaces, I agree on all points. FIG is way, way undervalued. It has net cash and investments per dividend paying share of $2.97, and has $1.98 per share of "gross embedded incentive income that has not been recognized in distributable income". On last quarter's conference call, Wes Edens said it was expected that Fortress would harvest some of the investments made in 2006-7 in 2014, which as you point out bodes well for a boost in EPS this year!

    Sentiment: Strong Buy

  • Reply to

    dilution again

    by big_cup_a_jo Apr 23, 2014 5:59 PM
    deanmortensen deanmortensen Apr 24, 2014 9:28 PM Flag

    vlev987, I'm holding onto all my TNP shares, as Europe's currency crisis has blown over, sovereign bond rates have fallen, and the European economy is slowly on the mend. Also, Greece has recently accessed the capital markets, and that's a very positive sign. Tsakos's LNG initiative has met with early success, and the move into LNG shows the company is seeking growth.

  • Reply to

    Observations

    by jdberwanger Apr 24, 2014 8:24 PM
    deanmortensen deanmortensen Apr 24, 2014 9:21 PM Flag

    jdberwanger, I concur with you that SILC is a growth stock that trades like a value stock after the recent stock price haircut. At $46 with $7.50 cash + marketable securities per share on its debt-free balance sheet, SILC trades at a market multiple, even though sales and earnings are growing smartly. Silicom has multiple growth engines, and continues to occupy a "sweet spot" in the networking biz. CEO Orbach says all Silicom's product lines are performing as planned, and the long-term business plan is on track. So, I continue to hold my shares in spite of stock market volatility and investor fickleness, as Silicom executes its business plan.

  • The $39.2 million "receivable and accrued interest from related parties" on IOT's balance sheet is IOT's largest single asset. It accounts for roughly half of its $19.34 per share book value. Does anyone on this board know what exactly it is? I'd like to know who or what owes IOT $39.2 million, what is the security or collateral for the loan, and when/if the loan will be repaid. It seems to me the investment thesis that IOT is grossly undervalued by the market rests on the premise that the $39.2 million loan is good, and will be repaid at some point in the future. But, the company 10K conspicuously doesn't provide any specifics about the loan. Since the loan comprises almost half of IOT's book value, I think it's fair to ask who borrowed $39.2 million from IOT, and what are the loan terms.

  • Reply to

    FTC Action Against WAC due soon

    by sme20_98 Mar 24, 2014 8:04 AM
    deanmortensen deanmortensen Mar 24, 2014 12:38 PM Flag

    twint2, I agree. WAC's currently depressed valuation prices in a dire outcome. Clearly, the pending FTC enforcement action is not an existential threat to WAC's business model. All of the mortgage servicers have faced regulatory action in the past, and all face possible regulatory action in the future. Regulatory action is a cost of doing business, not an existential threat.

    Sentiment: Strong Buy

  • Reply to

    Future earnings

    by ray858945 Mar 22, 2014 4:38 PM
    deanmortensen deanmortensen Mar 24, 2014 11:10 AM Flag

    ray, I think you summed up the investment case for NCT very well. Wes Edens and Ken Riis have consistently been meeting or exceeding their financial projections for NCT for 3 years running. They seem to be on track with the senior housing biz. IMO, the valuation accorded to NCT by the market doesn't reflect NCT's growth characteristics. As management winds down the legacy CDO biz over the next 3-4 years and redeploys capital into the senior living biz, I expect to see multiple expansion as NCT transforms into a senior living "pure play". So, although NCT sports an outsize dividend, in my mind it's also a growth story with possible multiple expansion down the road.

    Sentiment: Strong Buy

  • Reply to

    DD and dumb luck-What a great buy.

    by aghfella Mar 21, 2014 12:35 PM
    deanmortensen deanmortensen Mar 22, 2014 3:00 PM Flag

    Bob, NCT has been a juggernaut these last few years. It's been "the gift that keeps on giving". I wish I could find a few more stocks like NCT. It's had an amazing run these last few years.

  • Reply to

    DD and dumb luck-What a great buy.

    by aghfella Mar 21, 2014 12:35 PM
    deanmortensen deanmortensen Mar 21, 2014 1:05 PM Flag

    Nice shooting, aghfella! You won the investment derby by letting NCT management execute their business plan. NCT got whacked by the financial crisis and 2008/9 recession, but that set NCT up for a powerful rebound! I think that the best advice for stock investors most of the time is: "Don't do something--just stand there"! Hyperactive stock traders tend to rack up high trading costs more than trading profits. And, I'd not be surprised if "past is prologue" as concerns NCT. NCT management could have a few more rabbits to pull out of their hats. I like management's laser-like focus on creating shareholder value. Over the past 3 years or so, CEO Ken Riis has executed brilliantly. Chairman Wes Edens is a Wall Street "master of the universe" type who has applied financial engineering and innovation that has enriched NCT shareholders. I like that Edens "eats his own cooking" by virtue of his large ownership position in NCT shares. So, I intend to "stay on the NCT train" as Wes Edens and Ken Riis continue to identify profitable economic niches for Newcastle to exploit for the benefit of shareholders. IMO, "Mr. Market" is not fully pricing in the growth characteristics of NCT.

    Sentiment: Strong Buy

  • There seems to be a high degree of unanimity among analysts that cover FIG that the market grossly undervalues it.

    Sentiment: Strong Buy

  • Reply to

    NEWM trading

    by bacon2bacon Mar 19, 2014 9:46 AM
    deanmortensen deanmortensen Mar 19, 2014 12:54 PM Flag

    CEO Reed confirmed on the CC that although the dividend has yet to be set by the board, he expects NEWM will pay out a substantial portion of its distributable cash flow as a dividend. Distributable cash flow per share was 90 cents in 4Q, so I'd guess the board will set the quarterly dividend in a range of $0.45-0.68 per share.

    Sentiment: Strong Buy

  • Reply to

    NEWM trading

    by bacon2bacon Mar 19, 2014 9:46 AM
    deanmortensen deanmortensen Mar 19, 2014 12:11 PM Flag

    It's a sure bet that analysts will ask about NEWM's dividend policy on the 4Q cc. In Newcastle's presentation re the NEWM spinoff, Wes Edens suggested that he expected NEWM to pay out a large portion of its cash flow as dividends. For 4Q 2013, NEWM reported "Distributable Cash Flow" per share of 90 cents. I'd guess NEWM will set the quarterly dividend somewhere in a range of $0.45-0.68 per share.

    Sentiment: Strong Buy

SKUL
8.34+0.01(+0.12%)Aug 22 4:00 PMEDT

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