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Has Delivering Alpha Delivered So Far?

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Has Delivering Alpha Delivered So Far?

The fifth annual Delivering Alpha conference kicked off this morning in New York, and today’s conference lineup includes Pershing Square Capital Management’s Bill Ackman, Elliott Management’s Paul Singer, Trian Fund Management's Nelson Peltz and Icahn Enterprises LP (NASDAQ: IEP)'s Carl Icahn.

Already this morning, attendees have gotten some market-moving commentary from the conference. Here’s a breakdown of the Delivering Alpha news thus far.

Nelson Peltz

Trian Fund Management CEO Nelson Peltz discussed several stocks this morning at the conference. Despite recently losing a proxy battle with E I Du Pont De Nemours And Co (NYSE: DD), Peltz said that he would consider buying more shares of the stock.

Peltz is also bullish on PepsiCo, Inc. (NYSE: PEP) and said that the company is in position to “meet or beat every quarter from here on in.”

In addition Peltz had good things to say about Honeywell International Inc. (NYSE: HON) and McDonald's Corporation (NYSE: MCD), explaining, “If I wasn’t in Wendy's, I might like McDonald's.”

Finally, Peltz added that he sees opportunities in China for companies like Mondelez International Inc (NASDAQ: MDLZ).

Related Link: Jeff Smith Hypes Macy's At Delivering Alpha

Bill Ackman

Ackman also delivered a fair amount of market-moving commentary this morning. After praising the dynamic business of NOMAD FOODS LTD (OTC: NOMHF), Ackman added that he likes what he sees from the management at Danaher Corporation (NYSE: DHR).

On the topic of China, Ackman said that the current environment is worse than the U.S. environment in 2007, but added that “long term, I think it’s a great story.”

Ackman named mortgage lenders Fannie Mae (Federal National Mortgage Assctn Fnni Me (OTC: FNMA)) and Freddie Mac (Federal Home Loan Mortgage Corp (OTC: FMCC)) as his two most “interesting” investments. Ackman said that the two stocks offer “the most upside, probably the most downside of anything we own,” adding that he believes the downside scenario is unlikely.

Related Link: Delivering Alpha: What's Coming?

Market Reaction

Shares of Sears Holding Corp (NASDAQ: SHLD) are trading down more than 4.2 percent so far today following Ackman’s comments that the company doesn’t have much left at this point.

However, the biggest Delivering Alpha mover so far today is Macy’s, Inc. (NYSE: M), which is up more than 5.5 percent on Wednesday following Starboard CEO Jeff Smith’s declaration that he believes the stock is worth $125 per share.

Latest Ratings for M

DateFirmActionFromTo
Oct 2019DowngradesNeutralUnderperform
Aug 2019DowngradesBuyNeutral
May 2019MaintainsHold

View More Analyst Ratings for M
View the Latest Analyst Ratings

Posted-In: Bill Ackman Carl Icahn China Delivering Alpha Elliott ManagementAnalyst Color Events Analyst Ratings Best of Benzinga

 

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Latest Ratings

StockFirmActionPT
TORCCantor FitzgeraldDowngrades3.0
CIDMCanaccord GenuityMaintains1.5
TDGCanaccord GenuityMaintains620.0
DLPNCanaccord GenuityMaintains1.6
WBCLSADowngrades
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