Member Info for hjkl

Just noticed that a new board has been set up. As said in post below I think 0EV1 is the default replacement for old UK CCL stock following the delisting and issuance of DIs.

https://www.lse.co.uk/SharePrice.html?shareprice=0EV1&share=Carnival-Ord

Didn't notice this before. I think this board may only have just been set up - I think it's the replacement for the old CCL shareholders board following the restructure

Communication is lacking - bit like being stuck on a train in the middle of nowhere and not getting any info from the driver on what's going on.

Anyone else being issued securities with the ticker 0EV1. I think they are Depositary Interests but they have limited off-market tradeability - was this what was originally intended by CCL ? I suspect that something may have gone wrong in the documentation chain as this was a complex corporate restructuring - they were redomiciling to Bermuda AND they were delisting from London and issuing DI replacements on CREST.

Have not yet received dividend which was payable last week and as far as I can tell from other posts no one else has either who has gone down this route. That would be another indicator that things have not happened smoothly

I'd wait until things have settled down a bit

For instance will there be a new ticker for the CCL DIs and a board set up.

Yes I know that. That's one of the objectives with accounting / profits etc. For example by depreciating capital spend over a period you spread out the numbers more evenly. You can still have your working capital along with all the other mumbo jumbo reported elsewhere

But I'd like cash flow to be cash flow - actual numbers in the real world. And just like in the real world they'll go up and down.

So is cash flow no longer cash flow ?

Working capital is an accounting term - I always look at free cash flow in company results as that's the one thing that can't be manipulated by accounting rules and conventions. Now we have cash flow after working capital adjustment - OK there may well be politics in this but it's a bit sad really

Reading the tea leaves, current geopolitics is the straw that broke the camel's back but for a company like BKG the fundamental reason will be much closer to home. You get the feeling they are completely frustrated with this govt - all talk about building houses but no trousers.

DGE is a sound company with strong brands and will not go bust. However at the moment I have no idea how to work out it's value because of the challenging sales environment / changing consumer tastes and so on and where it's going to land with strategy (price cuts / disposals ?). If someone said it's worth £10 I'd say OK and if someone else £18 it would be the same answer.

I am watching but will not buy until there is a clearer view. Each to their own.

Nice partial road to recovery since results day

In my book that's not the most encouraging thing for REL though - it is that it has outperformed most of the other stocks that fell in a heap on the Anthropic news.

I guess the market has made some sort of a call on the famous "moat" ?!

Held off buying until I saw the results which didn't do enough for me. Knew they wouldn't be great and not overly fussed about the dividend

What concerns me is future strategy and still don't really understand what it is.

From the announcement the 3 priorities are

"- Build competitive category strategies, winning with relevant brands

- Customer, customer, customer

- Redesign of the Diageo operating framework to drive sustainable returns"

Corporate jargon which I don't like. Competitive category strategy - what is that price cuts and / or promotions ?

Customer x 3 well it's a retail business so of course it is

Redesign of operating framework - job cuts , more disposals ? Dunno

I like hydrogen (everything else being equal the idea of a H2 car is much more attractive to me than an EV) but I'm slightly more sceptical of electrolysis becoming a large scale commercial energy supplier rather than niche. Lots of progress in materials technology (as there has been in the fusion sector with huge temperature and radiation extremes) so it's possible it could yet take off though not necessarily would it be ITM that takes advantage.

Watched the co for a long time and it's basically gone sideways. I hope it becomes a ++ cash flow rather than a news flow company but too much faith and/or patience required for the likes of me

News just reinforces what's already known : the bondholders control the show

Nothing has fundamentally changed though I guess by pushing the horizon out for 2 years increases the option value for the stock eg more time for "something to turn up" such as the oil price surging

As predicted yesterday good results but not reflected in the share price reaction.

As Yoda might say - AI the force is too strong .... at the moment

Buyback is correct - if you believe the shares to be good value then buy them

Don't often anticipate results day with so much interest but tomorrow is one of them.

It's not so much whether the reported results will badly miss targets(the AI hype hasn't been around long enough) but the boss's take on forward earnings and strategy

I won't gamble on it but my guess is that the picture will be a lot more optimistic than the market is pricing in. However it won't be matched by a huge rerating of the share price - momentum is too strong at the moment but in time things will correct

Sp has gone up by something like 50% since the lows of last summer. For a co like GSK that is a change of sentiment big time

Not just the results it's a rerating going on.

GSK has been at a discount to AZN for ages and the market is now deciding it's a well run co.

Couple of thoughts

Wish it wasn't called "AI" should just be called next generation software / algorithm development. Massive hype in the sector and so what naturally follows is weight of money to back it up. Just because it's hype doesn't mean the scramble to invest is unjustified but if you look at history it normally does.

Some smaller legal outfits (pressure on margins etc) may be tempted to use cheaper solutions but I just can't see it for the big legal firms. For them reputation and quality of work for their clients is paramount and what they spend on data services will be a small % of their costs. In other words the paramount for Lexis is that it is the best package.

Interested if others agree / disagree.

Just a trading update but it's the debt update that's to be watched

Happened too late for this news but it'll be interesting to see how (if it hangs around) the gas price spike benefits HBR after tax. Also what would be your hedging strategy

Still undecided after following DGE for months.

In my view the justifications for whether this stock should be at £13 or £20 are equally strong - seems to be a similar push pull in the market as well

Sticking to my resolution and waiting for a corporate presentation strategy by the new boss

Well run information / intelligence based companies are a good hedge on the AI craze.

Companies like CKN, REL are under the radar / under valued compared to the US tech mega caps but are investing in similar areas.

Get what you pay for. The share prices will likely never go into the stratosphere but they'll still be around when the bubble inevitably bursts