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Robert Hanley

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  • Finding a Way to Play an American Classic

    By Robert Hanley - May 17, 2013 | Tickers: BDBD, CAG, SJM

    There are a few things that are American classics: baseball, apple pie, and peanut butter and jelly.  The latter has been a staple item in kids’ lunchboxes for decades.  Despite rising concerns over allergic conditions, peanut butter continues to be a popular, cheap source of protein for a wide swath of Americans.  Since most people don’t want to own a peanut farm, the best way to invest in peanut more »

  • Finding Big Gains Up in the Stratosphere

    By Robert Hanley - May 10, 2013 | Tickers: GY, TDG, UTX

    The aerospace business is back on the upswing once again, thanks to strong passenger volumes from both leisure and business travelers.  The airlines are upgrading their fleets, which has been good news for the airframe manufacturers, principally Boeing and Airbus.  Given the outsourced nature of the airframe business, the rising sales volumes have trickled down to the diversified component makers.  While defense budgets are strained in the developing countries, massive more »

  • Tracking the Pieces of This Former Empire

    By Robert Hanley - May 9, 2013 | Tickers: GGP, HHC, RSE

    Over a fifty year period, the Bucksbaum family built General Growth Properties (NYSE: GGP) from a tiny Iowa real estate developer into the #2 domestic mall empire.  However, the company’s operating structure collapsed in 2008, mostly due to the weight of debt taken on during its blockbuster purchase of Rouse in 2004.  Despite General Growth’s 2009 bankruptcy filing, it survived the process relatively intact, although it has spun more »

  • Crashing the Home Improvement Party

    By Robert Hanley - May 6, 2013 | Tickers: HD, LOW, LL

    The U.S. home improvement retailing duopoly of Home Depot (NYSE: HD) and Lowe’s (NYSE: LOW) have been content to carve up their industry among themselves, leaving few scraps for their competitors.  They have used their size and national scale to put mom-and-pop retailers out of business, with a seemingly limitless inventory of products in their warehouse-style stores, which average more than 100,000 square feet.  However, customer service more »

  • All Roads Lead to Macau

    By Robert Hanley - May 3, 2013 | Tickers: LVS, MGM, WYNN

    While the battle for supremacy in Las Vegas is basically over, with MGM Resorts International and Caesar’s Entertainment dominating the Strip, the fight to win market share in Macau is still too close to call.  In just 10 years the Chinese region has overtaken Las Vegas as the world’s busiest gambling mecca.  The American gambling empires and their Chinese partners are currently trying to one-up each other with more »

  • Airlines: Is It Different This Time?

    By Robert Hanley - May 3, 2013 | Tickers: ALK, LUV, LCC

    The airline sector is back in the black, with rising passenger loads caused by a rebound in both business and leisure travel.  However, the industry continues to be plagued by high fixed costs, unionized labor, and a tendency to create self-inflicted wounds through price wars.  Investors in the sector have often been left holding worthless securities during the inevitable business down cycle.  However, the industry has greatly consolidated over the more »

  • Finding an Investment Story on the Grid

    By Robert Hanley - May 2, 2013 | Tickers: ABB, AZZ, PWER, POWR

    It’s no secret that America needs to upgrade its electricity grid, the infrastructure that delivers power to millions of homes and businesses across the country.  While fossil fuels provide the source for most of that power today, renewable energy will be increasingly important as its production costs reach parity with traditional fuels.  Even Warren Buffett’s Berkshire Hathaway has been getting in on the action, with large investments in more »

  • This Industry Is Mixing Up Some Profits

    By Robert Hanley - April 30, 2013 | Tickers: EXP, HW, TXI

    The construction materials stocks have been on fire during the past twelve months, as homebuilders have increased their raw material purchases in order to meet rising housing demand.  Both new and existing home sales have perked up lately, leading to high builder confidence and an increase in annual housing starts above the one million mark.  Things are looking rosy at the moment, although the federal government will eventually have to more »

  • Taking Stock of the Mexican Quick Serve Biz

    By Robert Hanley - April 29, 2013 | Tickers: CMG, FRGI, YUM

    Mexican-style takeout has been an integral part of the American dining category, at least since 1962 when Glen Bell opened the first outlet of his eponymous fast-food chain in California. The segment has benefited from growing popularity, as well as the nation’s continuously rising Hispanic population. According to the U.S. Census Bureau, Hispanic people will account for 22% of America’s population by 2030, compared to 16% in more »

  • Finding Value in Artificial Lifting

    By Robert Hanley - April 26, 2013 | Tickers: FTK, GE, LUFK

    The oil and gas services sector has underperformed the broader market averages over the past 12 months, as energy companies have reset their capital investment plans lower.  While oil prices averaged roughly $94 per barrel in 2012, natural gas prices fell sharply due to lackluster economic growth and utility demand.  Even still, energy companies increasingly need products that will help improve their efficiency in horizontal drilling activities, a method that more »

  • Charlie Ergen Goes for Broke

    By Robert Hanley - April 24, 2013 | Tickers: CLWR, DISH, S

    The founder of Dish Networks (NASDAQ: DISH), Charlie Ergen, has always played the role of outsider, as he built his company into the #2 satellite television operator.  Now he wants a bigger piece of the telecommunications market, bidding $25.5 billion for Sprint Nextel (NYSE: S), which follows on the heels of his $2.4 billion bid for Sprint’s network partner Clearwire (NASDAQ: CLWR).  If successful, Dish’s combination more »

  • Sizing Up the Discount Brokers

    By Robert Hanley - April 23, 2013 | Tickers: SCHW, ETFC, AMTD

    The discount stockbrokers, led by Charles Schwab (NYSE: SCHW), TD Ameritrade (NYSE: AMTD), and E*Trade Financial (NASDAQ: ETFC), were some of the go-go stocks of the late 1990s, but much of their momentum has fizzled out over the past decade and a half.  The industry was one of the early winners of mass internet adoption, as individual investors could trade at the click of a button.  However, the tech more »

  • Time to Check the Cupertino Supply Chain

    By Robert Hanley - April 19, 2013 | Tickers: AAPL, CRUS, SWKS

    Wall Street seems to be rethinking Apple’s (NASDAQ: AAPL) prospects on a daily basis, despite Warren Buffett’s admonitions against short-term thinking.  The company has been at the forefront of the online all-the-time culture shift with its iPhone and iPad products, as well as its iTunes platform.  However, new and old competitors are always lurking around the corner and management seems to be hatching some grandiose plans, like a more »

  • Chalk Up Another Win for the Activists

    By Robert Hanley - April 18, 2013 | Tickers: FSCI, TVL, SBGI

    Value-focused investment managers and activist hedge funds have been putting capital to work in the broadcasting business recently, leading to big gains for the sector’s participants.  Sinclair Broadcasting Group (NASDAQ: SBGI), Gray Communications, and Lin TV (NYSE: TVL) have all gained more than 100% over the past twelve months.  The investment funds have also been seeking consolidation among the regional players, including Fisher Communications (NASDAQ: FSCI).  Major shareholder Gabelli more »

  • Time to Check the Cupertino Supply Chain

    By Robert Hanley - April 17, 2013 | Tickers: AAPL, CRUS, SWKS

    Wall Street seems to be rethinking Apple’s (NASDAQ: AAPL) prospects on a daily basis, despite Warren Buffett’s admonitions against short-term thinking.  The company has been at the forefront of the online, all-the-time culture shift with its iPhone and iPad product franchises, as well as its iTunes content platform.  However, new and old competitors are always lurking around the corner and management seems to be hatching some grandiose plans more »

  • Has This Pizza Chain Found the Ingredients for Success?

    By Robert Hanley - April 17, 2013 | Tickers: DPZ, PZZA, PZZI

    Despite an operating history that predates larger competitors like Domino’s Pizza (NYSE: DPZ) and Papa John’s (NASDAQ: PZZA), Pizza Inn Holdings (NASDAQ: PZZI) has had a hard time gaining market share.  While the pizza segment of the quick serve restaurant category grew 8% over the past ten years, according to industry estimates, Pizza Inn has had stagnant sales growth.  However, the company’s latest concept, Pie Five, has more »

  • Has This Pizza Chain Found the Ingredients for Success?

    By Robert Hanley - April 17, 2013 | Tickers: DPZ, PZZA, PZZI

    Despite an operating history that predates larger competitors like Domino’s Pizza (NYSE: DPZ) and Papa John’s (NASDAQ: PZZA), Pizza Inn Holdings (NASDAQ: PZZI) has had a hard time gaining market share.  While the pizza segment of the quick serve restaurant category grew 8% over the past ten years, according to industry estimates, Pizza Inn has had stagnant sales growth.  However, the company’s latest concept, Pie Five, has more »

  • Chalk Up Another Win for the Activists

    By Robert Hanley - April 16, 2013 | Tickers: FSCI, TVL, SBGI

    Value-focused investment managers and activist hedge funds have been putting capital to work in the broadcasting business recently, leading to big gains for the sector’s participants.  Sinclair Broadcasting Group (NASDAQ: SBGI), Gray Communications, and Lin TV (NYSE: TVL) have all gained more than 100% over the past twelve months.  The investment funds have also been seeking consolidation among the regional players, including Fisher Communications (NASDAQ: FSCI).  Major shareholder Gabelli more »

  • Can This Travel Agency Crack the Top Tier?

    By Robert Hanley - April 16, 2013 | Tickers: EXPE, OWW, PCLN

    It has been a tough five year period for online travel agent Orbitz (NYSE: OWW), as it has continually lost ground to competitors Priceline (NASDAQ: PCLN) and Expedia (NASDAQ: EXPE).  The company’s sales remain below the level in 2008 and its profit margin is far below those of its chief competitors.  However, Orbitz’s stock price has been moving sharply higher recently, as investors bet on its potential as more »

  • Can This Travel Agency Crack the Top Tier?

    By Robert Hanley - April 16, 2013 | Tickers: EXPE, OWW, PCLN

    It has been a tough five year period for online travel agent Orbitz (NYSE: OWW), as it has continually lost ground to competitors Priceline (NASDAQ: PCLN) and Expedia (NASDAQ: EXPE).  The company’s sales remain below the level in 2008 and its profit margin is far below those of its chief competitors.  However, Orbitz’s stock price has been moving sharply higher recently, as investors bet on its potential as more »

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