Recommendation Updates

Follow the latest news on active Turnaround Letter purchase recommendations.

Mid Cap / Software & Services

Terex Jury Verdict Issued

On December 12, 2011, Terex Corporation (NYSE: TEX) announced that a final judgment in support of the adverse jury verdict was issued relating to an adverse jury verdict and injunction in a patent infringement lawsuit brought against Powerscreen International Distribution Limited and Terex Corporation by Metso Minerals Inc. in United States District Court for the Eastern District of New York. The Court’s most recent ruling is in line with the Company’s expectations with regard to the damages award in this case. The Company strongly believes that the judgment is contrary to both the law and the facts. Accordingly, Terex and Powerscreen will be appealing the judgment and the related injunction and believe that they will ultimately prevail on appeal. The corporate release explains that the judgment and injunction only relate to certain models of Powerscreen mobile screening plants with the alleged infringing folding side conveyor design that were sold in the United States. These models have been updated with Powerscreen’s new proprietary S range of conveyors which have improved stockpiling capability than previous models. Thus, the judgment and injunction do not affect the continued use of any Powerscreen mobile screening plants currently in operation in the United States, the sales of any Powerscreen mobile screening plants outside of the United States or the sale of any screening plants sold by Powerscreen in the United States or elsewhere. Likewise, the judgment and injunction do not affect the sale of any other products manufactured by Terex or any of its subsidiaries. Accordingly, Terex does not expect the judgment or injunction will have a material impact on Terex’s consolidated business or overall operating results.

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Is there value in bankrupt PG&E’s stock?

In nearly every case, the shares of a company in bankruptcy become worthless. In very rare cases, however, they can become great investments. W.R. Grace (NYSE:GRA) shares produced a 75-fold return, as an example. With California utility PG&E (NYSE:PCG) now in bankruptcy, the range of possible outcomes for its equity is wide.

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EV/EBITDA: What Is It & Why Are We Using It More?

In reading recent editions of The Turnaround Letter, you have probably noticed that we are increasingly using EV/EBITDA as a valuation measure, rather than the better-known price/earnings multiple.  We thought it might be useful to describe this measure and why we like it.

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Turnaround Letter Stock Pick Named Top Performer of 2017

 

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What Last Year's Top Stock Pickers Are Buying in 2018

 

This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.

 

George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."