Valens Equity Weekly Insights and Inflections for August 14, 2019
Most Compelling Long Ideas
CVS, CRUS, EBAY, COF, WGO
Most Compelling ECF™ Inflections
MA, ABBV, MO, URI, SNX
Company Specific Highlights & Insights:
ALXN, ASGN, CIEN, CME, CMG, DUK, FLS, GPS, GRUB, HAL, IBM, IRBT, ISRG, JNJ, MSFT, OMC, PM, SLB, SNA, THRM, VEEV
Aggregate ECF™ Trend Analysis:
Management confidence levels appear to be gaining negative momentum, particularly in the last several months; breaking off their positive trend for two years. The ratio had consistently remained above 2016-2017 levels, however the recent inflection down may be a sign of management teams growing more uncertain about investing. In particular, this has been signified by a sustained rise in highly questionable markers, as opposed to a decline in management confidence.