The Trouble With Donald
More of your opinions on the State of the Union address…and The Rundown:
“My opinion is your publication is quite conservative and [an] affiliate of the Trump propaganda machine.”
We try our best to remain objective but admit we give side-eye to pretty much all politicians.
(Probably the smart thing to do since studies find that many politicians — along with captains of industry — are sociopaths or even psychopaths. Keep one eye open.)
A reader lists the trouble with Trump’s SOTU address:
“The problem is [Trump] continued his constant lying.
“Our economy is not booming.
“There is not an uncontrolled danger at the border.
“The not-rich are getting thoroughly screwed with taxes that are stealing tiny raises…just like George W. Bush did.
“In fact, the [latest] trade war started on the same date as GWB’s and it’s having a negative impact on many — especially farmers, builders and manufacturers.
“[Trump] spoke about infrastructure overhaul but all he can think about is ‘the wall’. He put underpaid government workers in food lines while he pouted for his wall. And he sounds like he is willing to do it again.
“But he didn’t mention a plan to really get Americans out of financial slavery nor did he detail what America got for giving multi-trillion dollar tax breaks to the rich — and himself…and Congress…thus making the not-rich pay more.
“Nor did he, nor could he, cite how those tax breaks restored our Treasury. Trump didn’t mention all those stock buybacks to manipulate the market. He didn’t mention how he will protect and better fund Social Security.
“That record number of jobs? Every lying word [Trump] says is make-believe….”
Agree or disagree with the reader’s take? Let us know.
Your Rundown for Monday, February 11, 2019:
We noticed shares of Coty Inc. jumped nearly 30% on Friday; the company’s stock was even distinguished as the biggest market mover — up and to the right — for the S&P 500 that day.
This after the company had been listed as the worst-performing S&P 500 stock for 2018; Coty, in fact, lost a stomach-dropping 66%.
So what’s moving the needle for Coty now? Earnings. And possibly a new CEO, Pierre Laubies, who came aboard in November.
Coty, a health and beauty company that owns around 77 brands, bought Covergirl and Clairol from P&G in 2015 for $12.5 billion. An imprudent purchase, so far.
To that end: Laubies “admitted…it would take time to get Coty on ‘a path of sustainable growth’ given the ‘difficult trajectory of our Consumer Beauty division,’” the Financial Times reports.
As for earnings, “Total group revenue for the quarter came in at $2.5 [billion], a near 5 per cent year-on-year decline but slightly better than the $2.46 [billion] that the market had expected. Stripping out the $965 [million] in impairments, adjusted earnings of 24 cents also came in ahead of forecasts for 22 cents.”
Yeah, not great…but it’s something. Another boost for Coty is a partnership with luxury brand Burberry. And the company’s promised a return to profitability in the second half of 2019.
So will this ugly duckling turn into a swan? Is it a bargain or a hard pass? It might not be a long position…but — even if Coty shares return to its IPO price of $17.50 — that’s some meat on the bone from its current price of $9.64, up 3.3% today.
Market Rundown for Mon. February 11, 2019
S&P 500 futures are up 1.44 points to 2,709.13.
Oil is down $1.12 to $51.60 for a barrel of West Texas crude.
Gold is down $6.60 to $1,311.80.
Bitcoin is down $57.49 to $3,627.49.
Have a good day. We’ll talk tomorrow..
For the Rundown,