Low capex & great free cash flow!
Modest growth by expanding mail order.
Improved margins after digesting Medco.
Increased share repurchases & dividend initiation after Medco merger reorganization (there's not much else can they spend all that FCF on...)
No business sustains high growth forever.
It's Paz' job now to NOT introduce "New Coke."
What's he gonna do?
Sell his shares or shut up; that's what.
His purchase barely makes the needle move (except of course for the lemmings who follow him.)
I hope he makes a big splashy sell so Apple can continue the repurchase at a lower cost to shareholders.
I'd love to see it go sub $400 again!
On the surface; splits are simply a sleight of hand.
A 2 for 1 split turns 1 million shares & $1 per share in earnings into 2 million shares & $0.50 per share in earnings (you have exactly the same share of corporate earnings as before the split.)
So why do CFO's want to do a split?
So they'll have access to more equity financing for the future.
Imagine a firm whose charter allows the aforementioned 1 million shares, has issued 700K & anticipates needing more capital than the remaining 300K shares will provide.
Do a 2 for 1 split & now your charter allows 2 million & you have 1.4 million out & you can sell another 600K shares for financing.
Why not do a 5 for 1 if you are doing a lot of capital spending & anticipate a fat ROIC?
That way you won't need to go back to the well again & incur those pesky investment bankers fees.
Of course; then if ROIC is sub par (aka, management spent the cash on assets which didn't produce) then the split will dilute your already poor returns.
Suffice it to say; since AFL has been buying back shares consistently & has ample cash flow to support operations & maintenance, I doubt we'll see a split (I'm too lazy right now to figure out how much AFL's charter allows & how much they have on the market.)
I've been long GLW since $12 for reasons of value.
I like a good fairy tale as much as the next guy but you are delusional if you think Apple is going to play monkey see monkey do.
Samsung has been producing chips for Apple for years now & you haven't seen Cook take a stake in Intel or any other manufacturer.
What makes you think he'd invest in production capacity for display glass?
Apple will continue to make small tuck in purchases of businesses which enhance it's core value proposition to end users (UI, mapping, media, social, ads & payments.)
Apple is not a manufacturer.
Apple is a creator that leaves the grunt work to lesser beings.
(I know this last will elicit groans from staunch B Gates lovers...)
Apple is NOT going to put capital into GLW.
Look at the ROIC as opposed to buying back their own shares.
They'd sooner buy Icahn a condo in Maui...
Awesome; I'm steadily going back through old 10K's & various ancient article regarding negotiating a contract with a PBM.
I never would have thought back in high school that these kinds of things would fascinate me so much.
It seems to me that CVS could possibly be more effective for patients (if they are up to the task) since they face the consumer more closely & can evaluate outcomes better.
I still haven't read enough about Medco to know what they provide that is different than what ESRX already had (I suspect ESRX wanted the mail order volume but hope it was systems & data to improve patient outcomes.)
I believe improved efficacy of treatments will produce winning results in the long run.
(Am I being naive?)
Were you in the insurace industry in another life?
There is frequently a lot of entertainment value (if you enjoy teasing #$%$ children.)
Occasionally I've actually run into intelligent commentary...
I've seen your posts on other boards.
Go to ESRX & fill my request for info?
As to STO; lots of deepwater / harsh environment operational experience & building the same in shale.
I own a small 500 share pos but wouldn't buy more anywhere in the stream with spot oil at present levels.
I'll wait a few years & buy more producers & further down stream with sub $80 oil...
Don't forget about ESRX (can you provide food for thought?)
R U in fact the same guy who took a lickin' & kept on tickin' against Holmes?
I hope CEMI is as tough as your namesake.
Gotta get some FCF flowing here or it's just dead $
I got in at $13 & change & have been sitting tight...
The market has a short memory where Argentine lunacy is concerned.
This one will shoot back up along with TEO & I'll bag my profits on this spec & move them into a solid long term moat (the initial investment will go to another spec...)
The complaint alleges that the EW made false/misleading statements &/or failed to disclose material information related to the EW's projected sales, financial prospects, & adoption of the Company's SAPIEN transcatheter aortic heart valve:
a) due to physicians' concerns over the risks and complexity of the procedure for implanting SAPIEN adoption of SAPIEN was weaker than the Company claimed
b) the Company's outlook for sales & earnings per share was significantly weaker than suggested to investors & as a result the Company lacked a reasonable basis for its statements relating to the Company's operations, forecasts & outlook.
Point a) is bogus. It's not the risk & complexity (it's no more complex or risky than cutting someones chest open to replace a valve.)
The problem lies in getting approval for reimbursement by the Center for Medicare & Medicaid Services (CMS) under Coverage with Evidence Development (CED)
Do a Google search for "Decision Memo for Transcatheter Aortic Valve Replacement" & find the requirements which take about 5 minutes to read & is pretty easy to understand.
Point b) is a straight up lie.
Edwards gave guidance & although it was a bit optimistic; they've still posted phenomenal Sapien sales.
IMHO anyone who is a member of this class action (and declines to be the lead plaintiff) would be hard pressed to tell you how many valves the heart has; let alone, be able to describe the various failures which would lead to a valve replacement or the repair methods used.
Most of them probably just heard "no more need to crack open a chest to replace a heart valve" & assumed that meant for ALL heart valve candidates.
The TAVR procedure is presently indicated for patients who can'r tolerate the trauma of open heart surgery.
Over the next 5-10 years TAVR could become available to mainstream candidates which would extend the already long runway for EW & yes MDT & SJT too.
Well researched Bear cases are welcome / Wiggle watchers; go away...
Sentiment: Strong Buy