Most Compelling Long Ideas
CVS, CRUS, EBAY, COF, WGO
Most Compelling ECF™ Inflections
ABBV, POST, TTD, MO, URI
Company Specific Highlights & Insights:
AMAT, ATVI, BABA, BDX, BKNG, CAH, CF, CVX, ETN, FIS, IT, LUV, MO, NXPI, PSX, REGN, TDG, TEVA, VAR, XRAY
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.