With coronavirus beginning its worldwide spread in February, France’s Sanofi (SNY) revealed plans to spin off its active pharmaceutical ingredients (API) business into a standalone company. For the sake of layman like us, APIs are the ‘magic’ molecules that make drugs work and according to Sanofi, the vast majority of APIs are currently manufactured in Asia (ex China… Read More »
Business is tough right now, including for some recent spinoffs. While California Resources Corporation was missing interest payments at the end of June, 2016 rural hospital spinoff Quorum Health was just emerging from Chapter 11. The company had been shrinking even prior to coronavirus and it was even forced to shutter and sell off numerous hospitals. From the… Read More »
Time for another edition of Odds & Ends… 1. Yet Another Value Blog has a follow up piece to its initial recommendation of Kontoor Brands (KTB), the 2019 jeans spinoff from VF Corp (VFC). The company initially recovered from the usual post-spin dynamics, but has been hit especially hard this year. Interestingly, according to YAVB one reason is… Read More »
The saga surrounding California Resources Corporation (CRC) finally reached a conclusion last week with the company agreeing to a pre-arranged Chapter 11 package with its creditors. As we have previously reported, the company missed a few recent interest payments beginning the seemingly inevitable slide into bankruptcy. CRC negotiated a forbearance agreement (along with several extensions) while working the… Read More »
Highlighting the Barron’s Roundtable’s spinoff picks is always one of our most popular pieces every year. Sadly, we missed it earlier this year, but Barron’s does publish a midyear check in every July. It’s not as comprehensive as the beginning of the year Roundtable gathering, but it still features some talk about the economy, predictions for the market… Read More »
Another deadline and another forbearance extension for California Resources Corporation (CRC). For at least the third time over the past month the California based oil producer (and OXY spinoff) was able to buy some additional time from its lenders on its missed interest payments. The new deadline is now July 12th…a mere four days later. The forbearance periods… Read More »
Solar power is hot right now on the heels of yesterday’s announced deal for Sunrun(RUN) to buy Vivint Solar(VSLR). SunPower(SPWR), another major solar power player, is moving forward with its plan to spin off the international portion of its technologies business as Maxeon Solar Technologies. Towards that end, the company filed its Form 20-F registration statement last week.… Read More »
It’s been a little over 10 months since the last Odds & Ends so the time is right to bring this fan favorite back. 1. Yet Another Value Blog recently posted a lengthy, in depth series analyzing the media industry. The most recent edition – another great read – is focused on sports rights and sports investing. The… Read More »
Smith & Wesson(SWBI)- it’s one of the most storied names in firearms, and, as of June 1, it’s the name not just of a brand, but of a company as well. In preparation for a late summer spinoff, American Outdoor Brands Corporation(AOBC), changed its name to Smith & Wesson Brands, Inc. The American Outdoor Brands name is not… Read More »