Recommendation Updates

Follow the latest news on active Turnaround Letter purchase recommendations.

Large Cap / Consumer Services / Transportation

Carnival Enters Partnership Adding Nine Cruise Ships Beginning in 2019

Carnival Corporation (NYSE: CCL) signed two strategic memorandums of agreement that will add a total of nine new cruise ships to the company’s industry-leading fleet over a four-year period from 2019 - 2022. The shipbuilding agreements, which include options for additional ship builds in the coming years, are subject to several conditions, including satisfactory financing. Italian shipbuilder Fincantieri S.p.A and German shipbuilder Meyer Werft will each build new ships based on Carnival Corporation’s next-generation ship designs, which will produce the most efficient ships in the company’s history. The new ships are expected to serve established cruise markets in North America and Europe, as well as newer markets, including China. Each new ship will be specifically designed and developed for the brand and guests it will serve, and support the company’s overall goal of exceeding guest expectations and further elevating every aspect of the guest experience. “We’re excited to take this next step in our fleet enhancement plan with these two new agreements that are consistent with our long-term strategy of measured capacity growth over time,” said Arnold Donald, president and CEO of Carnival Corporation. “Our goal as a company is to exceed the expectations of every guest on every ship every day, and these new ships will further enable us to do just that. These will be the most efficient ships we have ever built and the great guest experience will create even more excitement around cruising – helping new cruisers realize the superior vacation experience and value that cruising offers versus land-based vacations.” 

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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.

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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."