Most Compelling Long Ideas
CVS, CRUS, EBAY, COF, WGO
Most Compelling ECF™ Inflections
ABBV, MO, URI, SNX, LEA
Company Specific Highlights & Insights:
ALGN, ALK, EXPE, FCX, GD, HUM, IRM, ITW, MCK, MTD, NSC, OMC, TMO, UHS, UNP, V, VMC, WBA
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.