Large Cap / Telecommunication Services
AT&T Redemption Announced
On January 13, 2012, AT&T Inc. (NYSE: T) provided irrevocable notice to The Bank of New York Mellon, as Trustee, to redeem all the outstanding 6.375% Senior Notes due February 15, 2056 with CUSIP number 00211G208, in accordance with the terms of the Indenture with the Trustee. The redemption date will be February 15, 2012, and the redemption amount will be 100% of the principal amount of the Senior Notes and accrued and unpaid interest to the redemption date. AT&T expects the aggregate cash payment to be approximately $1.219 billion, including principal of approximately $1.2 billion and accrued interest of approximately $19 million. The redemption of this debt is expected to be funded by cash on hand.
Read More Purchase Recommendation Updates
Identify & Profit from Distressed Investing
Turnaround Investing Blog
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.
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.
Turnaround Letter Stock Pick Named Top Performer of 2017
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."
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