Notice that EVERY analyst is complimenting them on a fabulous quarter?
$25 ought to be coming right up on the strength of these outstanding results and brightening outlook.
We plan to stay right on for the ride with T Rowe Price and Vanguard.
PT is $25, but we'll likely see $30 for the year.
Great Q and CC tonight mgmt -- you killed it on all points except the buyback... should have exhausted that below $17, buying when we were shouting about our steady buying buys here.
That said, good to see almost $10 taken out since EOY and re-upped to $80m now... the chance to buy this below $21 is done now.
Well thank you.
Long here below $17 as you know. Long DNKN from $30, GMCR from $18, SBUX from $62 in this sector have all been pretty good.
Check out our notes on MPEL from $12 in Nov 2012... PT is $50, but going to $60 as long as no China or broad market collapse. BIG news is manila, where they are opening a 4 hotel property in Manila Bay with no real competition.
HTZ is the next BIG runup in our portfolio. On a big core at $22 from late last year and adding up through $27. PT is $35 this year.
EXPE and PCLN let's say "working" (LOL), tons made on the airlines, AAPL long since $389, HLF from $38 to $80 and about to add again tomorrow courtesy Ackman's ongoing dufus antics. LOL
Hey, we're actually good at this mm game... but sometimes we bail too early. On CMG at $75 -- out WTF early at $340. LOL
You can see more for the clicking... but that's plenty to be "delighted." ROFLOL
You have no idea...
"Delightful" all about twerking the heads of you putz shorts sukin on your Woody Allen socks full of horse dung. LOL
Enjoy the run to $25. ROFLOL
You know, the one full of horse dung. LOL
With WYNN, you get Steve and quality team. When the new property comes on line in early 2016 (two years from now) you also get what will be the second best property in Cotai -- right behind MPEL's City of Dreams which is already 5 star, is inimitably positioned on the strip, and will be THE iconic property in Macau once Tower 5 is completed.
MGM is the weak sister of the group, the short side of paired trades all year long. Saddled with too much debt, nine tired Vegas properties (Bellagio and Citi not tired but not big ebitda machines the others have in Macau, and only decent management when MPEL and WYNN and even LVS have better mgmt, MGM will remain the caboose. MGM is also consistently the cellar player in Macau... Asians aren't much for the gaudy gold trims MGM's design team uses there. LOL
Hard to leave the entire position on when we own it at $16.80 and have a nice, very easy gain, but anyone stupid enough to short this below $19 deserves what is coming -- a solid trampling!
trowe notes tell you what is coming... A solid beat... And so did the ceo last month. lol
What did you want to suggest with respect to Golden Slacks? As you did with ZQK's history and current relevance and as gegjim did regarding a sale to a strategic or perhaps he meant infill buyer, there you go again inferring you know something we do not. You'd be floored to learn how much I know about the old and new Geldmen. LOL
Here's a small plateful for you. If Geldmen Suchs still has a long here, you can bet they are hedged, perhaps 100% so. You can also count on them bailing as the perhaps world's best remaining "sponsor" while they duck out of positions... and once they are out of their ZQK "recap" bond position, you can count on the stock position being either nada or net short.
For comedy, we'll play your cutesy words game: Short covering is about done now. Prepare for the dark pool slam with multiple algo programs playing fiddle. LOL
Go back to the Sep 30 13F to see Elliott sold out 579k shares during the 3rd Q, so they sold out those shares between $23 and $32/share. Their residual position as of October 1st was 2,529k shares, not even half of 1% of total ownership, and they sold that out for between $32 and $39/share. Profit taking/taking out some with a collar or similar positioning is one thing, but selling out an ideally-positioned company consistently outperforming guidance is another.
As noted above, their 2013 performance was roughly 1/3 the S&P 500 for the year -- special situations and distress, yes, but still weak sauce relative to top performing funds. There are funds whose returns in the last couple of years have been consistently excellent (LOL), but Elliott is not even close. Anyone looking to them for stock picking prowess ain't thinking too well.
Have a good look at the ownership on the first couple of pages of the 13Fs and all of the 13Gs -- rock solid names there, including Crown Mgmt and Melco group -- BOTH of which own 33% of the company and have sold out none since inception. In our view, those guys know more than any other management group involved in Macau or the Manila, and while putz small funds may think it is a great idea to short these shares on the news of the week (particularly the rumors that the early trust/shadow banking may soon have a "Lehman moment" and economic data involving commodities involved in China imports/exports last month are extremely negative headlines, we continue to think it is a great set up for the surprisingly strong turnaround of data sets and the Macau oriented stocks) coming right up.
I've pointed out several times since last year when the shares dipped for a few days from $25 back to $20, then as the yr end incentive lockdowns/hedging took place, and then again from $45 back to the double tested 50d ema, and now again, but the confluence of those dips with paid dipS bashing here is a clear sign they are back.
To our benefit...
ZQK's numbers and null set outlook blow vs Urban Outfitters, so this is looking alot like the big SI has some caught unhedged short trying to cover for a few days as we suggested may happen... up uneconomically another few days and it'll be ripe to short again. Just for fun, we'll let you know when we get short again. LOL
pass the pipe to your long pals here while it lasts. We smell a good opportunity to short it heavy coming right up. LOL
And, unlike Quik, Roxy and DC Brands, those are still relevant brands that kids still want (at least the Urban outfitters gear).
That said, American Eagle is out there in the Roxy/cheap junk bucket...
Again, retail is a tough business, esp youth fashion. companies need to constantly refresh and be exciting to remain viable. ZQK brands are "has beens", except in foreign countries where the kids don't speak English and so have yet to figure out they are wearing brands kids in Western countries have long abandoned.