Intercontinental Exchange, Inc. (ICE) operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. It owns and operates regulated exchanges such as the NYSE, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. In [...]
Thomson Reuters Corporation (TRI) is a leading provider of business information services whose products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals. Woodbridge Company Limited, a Canadian private holding company based in Toronto, Ontario which is the primary investment vehicle for members of the family of the late Roy [...]
In recent articles (here and here) I disclosed that I had written covered calls on Chevron Corporation (CVX) and Nike, Inc. (NKE) in an effort to merely skim additional income. The NKE covered calls are working out so far but they expire March 19th and anything can happen between now and expiry (especially [...]
PepsiCo Inc. (PEP) is a leading global food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. Through its operations, authorized bottlers, contract manufacturers and other third parties, PEP makes, markets, distributes and sells a wide variety of convenient beverages, foods and snacks, serving customers and consumers in [...]
Heico Corporation (HEI) is a successful and growing technology-driven aerospace, industrial, defense and electronics company. Business is comprised of two operating segments: Flight Support Group (FSG) and Electronic Technologies Group (ETG). HEI's performance has been negatively impacted in recent quarters because of the challenges its FSG customer base is experiencing due to the the COVID-19 [...]
Danaher Corporation (DHR) has completed several acquisitions and divestitures over the years and now operates 3 business segments: diagnostics, life sciences, and environmental and applied solutions. DHR consists of ~69 associates employed at 20+ operating companies and it has research & development, manufacturing, sales, distribution, service and administrative facilities located in 60+ countries. In March [...]
Fortive Corporation (FTV) spun off 80.1% of its Industrial Technologies strategic segment to Vontier Corporation (VNT). In January 2021, FTV exited its remaining 19.9% ownership stake in VNT through a tax efficient Debt-for-Equity Exchange, thus completing the final step in the VNT separation. With the combination of the VNT's spin proceeds, the Debt-for-Equity Exchange and [...]
Verizon Communications Inc. (VZ) is a holding company that, acting through its subsidiaries, is one of the world’s leading providers of communications, information and entertainment products and services to consumers, businesses and government entities. With a presence globally, VZ offers voice, data and video services and solutions on its networks that are designed to meet [...]
Over the last 15 years, TELUS International (Cda) Inc. (TIXT) has been incubating within TELUS Corporation. During this timeframe it has built comprehensive end-to-end capabilities with a mix of industry and digital technology expertise to support clients in their customer experience and digital enablement transformations. The company has over 600 customers, operates in 20+ countries, [...]
Paychex, Inc. (PAYX) is currently experiencing challenges because of the low interest rate environment and because its primary target market (small businesses with ~17 employees on average) has been hard hit because of COVID-19. I have mentioned in several previous articles that the valuation of many companies has become detached from the underlying fundamentals and [...]
