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Recent Articles
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ESG Matters: Applied Materials Faces Criminal Investigation
Dec 10, 2023
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Image: Applied Materials’ shares faced considerable pressure November 17 as news that it had violated export restrictions to China came to light.
On November 16, Reuters reported that Applied Materials allegedly evaded export restrictions by shipping hundreds of millions of dollars of equipment to a subsidiary in South Korea before sending it to China’s biggest chipmaker SMIC. This alleged miscue falls under the Governance (G) category of ESG investing, and shares of Applied Materials have yet to recover from the aggressive sell-off it experienced during the trading session November 17. Though the results of the Department of Justice investigation are still pending, this is quite the black eye for Applied Materials, and we view this as a serious infraction given the U.S.’s stated efforts to keep advanced chips and chipmaking equipment out of China for national security reasons. We’re keeping a close eye on this story, as further news regarding the matter comes to light.
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Reinstating Coverage of Lululemon
Dec 8, 2023
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Image Source: Mike Mozart.
On December 7, Lululemon reported strong third-quarter results for its fiscal 2023, with revenue increasing 19% and comparable sales increasing 14% on a constant-dollar basis. Adjusted earnings per share of $2.53 came in roughly 10% higher than the consensus forecast. We are reinstating coverage of Lululemon with a $470 per share fair value estimate and an Attractive Economic Castle rating. We like Lululemon but we won’t be adding it to any newsletter portfolio at this time.
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Dividend Increases/Decreases for the Week of December 8
Dec 8, 2023
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Let's take a look at firms raising/lowering their dividends this week.
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Latest Report Updates
Dec 6, 2023
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Check out the latest report refreshes on the website.
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