Recommendation Updates

Follow the latest news on active Turnaround Letter purchase recommendations.

Mid Cap / Commercial & Professional Services

Interpublic Put Option Announced

On February 15, 2012, the Interpublic Group of Companies, Inc. (NYSE: IPG) announced that, as required by the terms of its 4.25% Convertible Senior Notes due 2023, it is notifying holders of the Notes that they have the right, pursuant to the terms of the Notes, to require Interpublic to purchase their Notes for cash on March 15, 2012. The Put Option expires on March 14, 2012 and entitles each holder of the Notes to require Interpublic to purchase all or part of such holder's Notes at a price equal to $1,000 per $1,000 principal amount of the Notes, plus any accrued and unpaid interest up to, but excluding, March 15, 2012. Interpublic expects, however, that there will be no such accrued and unpaid interest due as part of the purchase price paid on March 15, 2012 because that date is a regular interest payment date. Interpublic will pay the purchase price in cash. If all outstanding Notes are surrendered for purchase pursuant to the Put Option, the aggregate cash purchase price will be $400.0 million. Upon the occurrence of certain events described in the Notes, the Notes are convertible into 82.4612 shares of Interpublic's common stock per $1,000 principal amount of the Notes. On February 14, 2012, the last reported sales price of Interpublic's common stock on the New York Stock Exchange was $10.70 per share.

Read More Purchase Recommendation Updates

Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

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.

Read More.

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.

Read More.

Turnaround Letter Stock Pick Named Top Performer of 2017

 

stock market advicex

 

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."