Recommendation Updates

Follow the latest news on active Turnaround Letter purchase recommendations.

Large Cap / Pharmaceuticals, Biotechnology & Life Sciences

Amgen Financials Announced

On January 26, 2012, Amgen (NASDAQ: AMGN) reported total revenue increased 3% during the fourth quarter of 2011 to $3,973 million versus $3,841 million in the fourth quarter of 2010. For the full year 2011, total revenue increased 4% to $15,582 million from $15,053 million in 2010. Adjusted earnings per share were $1.21 for the fourth quarter of 2011, an increase of 3% compared to $1.17 for the fourth quarter of 2010. Adjusted net income decreased 6% to $1,039 million in the fourth quarter of 2011 compared to $1,103 million in the fourth quarter of 2010. Full year 2011 adjusted EPS were $5.33 versus $5.21 in 2010, a 2% increase. Full year 2011 adjusted net income decreased 3% to $4,858 million versus $5,024 million in 2010. Total product sales increased 4% to $3,907 million in the fourth quarter of 2011 versus $3,760 million in the fourth quarter of 2010. U.S. product sales increased 5% to $3,007 million in the fourth quarter of 2011 versus $2,869 million in the fourth quarter of 2010. International product sales increased 1% to $900 million in the fourth quarter of 2011 versus $891 million in the fourth quarter of 2010. The company expects total revenue for 2012 to be in the range of $16.1 billion to$16.5 billion. Amgen expects 2012 adjusted EPS to be in the range of $5.90 to $6.15, excluding certain expenses related to acquisitions, the non-cash interest expense associated with our convertible notes, stock option expense and certain expenses related to a cost-saving initiative. With respect to other guidance, Amgen expects the adjusted tax rate for 2012 to be in the range of 14% to 15%. The company expects 2012 capital expenditures to be approximately $700 million.

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Identify & Profit from Distressed Investing

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Turnaround Investing Blog

Turnaround Investing Blog

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."