Tag Archives: ADS

Ashtead FAST URI Quick Blurbs

QUICK BLURBS [Ashtead, FAST, MSM, URI, ZN]
July 24, 2017

[ZN – Zion Oil and Gas] Heard about this stock on a podcast; I doubt[...]

ASHG

[ASHG] CHEAP STOCK OR VALUE TRAP?
July 14, 2017

“People always think more about how new ground can be broken than they think about[...]

SAMPLE POSTS AMZN

[AMZN] EXPLANATIONS MATTER
July 6, 2017

 “Theories are nets cast to catch what we call ‘the world’: to rationalize, to explain,[...]

INTU

[INTU] KIND OF INTO IT
June 27, 2017

(4,382 words) It seems not too long ago, business arrangements between application providers were called partnerships….now[...]

SAMPLE POSTS VRSK

[VRSK] HIGH QUALITY CASH COW, LIMITED REINVESTMENT OPPORTUNITIES
June 16, 2017

(2,414 words) When evaluating the competitive advantage of a data-based analytics business, three important questions[...]

ADS, IBKR, KMX, Quick Blurbs

QUICK BLURBS [ADS, AXP, BAC, IBKR, KMX, SVU]

Posted on by scuttleblurb
(4,146 words) [IBKR] Partly due to an exceptionally low volatility trading environment, which has made it difficult to earn profits and which Petterfy says may continue “indefinitely,” the company is winding down its options market making operations. While the company will use the excess capital from market making to further support its brokerage operations, the latter […]
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ADS

[ADS] FORM VS. FUNCTION

Posted on by scuttleblurb
In form, ADS is a bank.  In function, it is a loyalty company that helps retailers drive customer engagement and top-line growth.  The Citron short report from Aug. 2016 fails to recognize this distinction, essentially arguing that because ADS’ private label business literally makes money like a bank, it should trade like one.  But it […]
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Posted in ADS  |  Tagged
ADS

ADS – LOW QUALITY BEAT AND RAISE, CREDIT SALES SLOWING BUT TENDER SHARE GROWING, REDEMPTIONS RAISE QUESTIONS ON BREAKAGE ASSUMPTIONS

Posted on by scuttleblurb
10/20/2016: ADS (Earnings Call) Card Services (revenue +26% y/y, adj. EBITDA +14%) did better than expected: gross yields of 26.8% 60bps better than guidance and “cardholder friendly” changes made in mid-2015 lapping; operating leverage; loss rate of 4.7% 20bps better than expected, but co. thinks this is a timing issue and expects to give back […]
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ADS, Quick Blurbs

ADS SEES NO ROADBLOCKS TO DD EARNINGS GROWTH, 20% LOAN GROWTH DOES NOT PRESENT CREDIT RISK

Posted on by scuttleblurb
(798 words) 9/13/2016: ADS (Deutsche Bank Technology Conference) [The company seemed to assume a defensive posture, justifying the component of its business model, perhaps in response to this short idea published by Citron in late August]. ADS claims that private label cards are not a riskier credit proposition than general purpose.  During normal times, while […]
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