Best Buy's Q3 results missed revenue and EPS targets, with comparable sales growth at -2.9% and disappointing Q4 guidance, leading to a 7% decline Tuesday morning. The challenging macroeconomic environment, election distractions, and uncompetitive business model against Walmart and Amazon are significant headwinds for Best Buy. I remain bearish on BBY, expecting continued sales decline, potential dividend cuts, and store closures due to weak consumer demand and macroeconomic pressures. Contrary to most analysts, I doubt BBY's EPS will recover by 2027. Instead, I forecast a long-term decline that may accelerate with economic weakness next year. I plan to hold my short position in BBY until its valuation fairly discounts its chronic competitive pressures, or the company proves its ability to

Clear Secure's sharp decline in post-Q3 earnings is due to slowing customer growth and declining net member retention despite solid sales growth and profitability. The company's focus on profitability over customer acquisition and retention may hinder long-term growth, especially with regulatory risks. Clear Secure must diversify beyond airport security to unlock its full potential, but its current strategy seemingly prioritizes short-term shareholder value. While YOU has substantial sales growth and a low forward P/E ratio, given its rising profitability, its business model and management focus raise long-term growth concerns. In my view, the company must prove that it is not a "fast pass" that benefits from price discrimination but actually fulfills an identification need, particularly o

Lithium Americas offers significant long-term value despite the current lithium market glut and stock price declines due to its large Thacker Pass deposit and low-cost production potential. LAC benefits from strong US government support and General Motors' investment, positioning it well for future growth in the domestic EV supply chain. Key risks include potential project delays, cost overruns, and further lithium price declines due to economic slowdowns and increased supply. Long-term investors may find LAC undervalued. If it achieves competitive production costs and meets development timelines, it has substantial profit potential. Lithium Americas aims to have similar costs to South American miners, as lithium is less labor intensive than most mines, and the US project may have greater

Sprouts Farmers Market has surged 470% since I became bullish in 2021, driven by superior management and a bifurcating grocery industry. Despite its high valuation, SFM's strong growth potential and market shift away from middle-market grocers like Kroger and Albertson's continued double-digit sales growth. Projecting its growth into the 2030s, Sprouts may be reasonably valued today, given that its sales are currently far below its expanding total addressable market. Sprouts is far more expensive than Kroger and Albertsons, but is likely undervalued to Costco. Compared to Costco, Sprouts has more recession risk but far superior long-term growth potential. SFM's current valuation appears risky due to potential demand fluctuations and fickle short-term momentum traders. Kobus Louw In 2021, S

Whirlpool faces potential short-term strains but possible long-term benefits from the Trump administration's efforts to improve US manufacturing activity. Despite recent financial struggles, including high debt and low margins, WHR's valuation reflects its risks, with analysts predicting a margin recovery after 2025. US manufacturing's post-pandemic recession and low home sales are significant challenges, but a supportive regulatory environment could aid Whirlpool's future growth. I cautiously upgrade my view on WHR to mildly bullish. I expect pressures in the short term but see it as a reasonable long-term value investment. simonkr/E+ via Getty Images From 2018 to 2023, the US had a tariff policy on washing machines. The tariff was initially set at 20% for the first 1.2M units and 50% abo

Cameco Corporation reported a non-GAAP EPS of -$0.01 and substantial revenue of $721M, up ~25% YoY, with a positive financial outlook and increased dividend. Operational improvements and the reopening of the McArthur River/Key Lake mine boosted the 2024 production outlook despite supply issues in Kazakhstan. The uranium market is supply side-driven; Cameco's long-term contracts and potential supply disruptions in Kazakhstan could keep uranium prices high, improving CCJ's income years from now. If supply conditions in Kazakhstan normalize, as expected, the market seems to be headed back into a glut, pushing uranium back below $60-$70 per pound. Cristian Martin/iStock via Getty Images The uranium (UXA:COM) mining giant Cameco Corporation

Summary Gasoline prices are down again due to global demand concerns. The average US retail gas price is $3.3, down from nearly $3.8 in May. This year, energy is the worst-performing sector, as investors view oil as cyclical after 2008 and 2020 despite its historically non-cyclical pattern. The Federal Reserve's surprisingly quick dovish shift and geopolitical should encourage investors to look toward supply side inflation hedges. Chevron's strong balance sheet, low debt-to-equity ratio, and strategic acquisitions position it well for future growth despite its slightly higher valuation. In a recession, Chevron's diversified operations and consistent dividend make it a safer bet, particularly given US drilling activity has already declined due to concerns of a slowdown that may not occur. N

Summary PulteGroup's high valuation and profit margins are unsustainable due to low home affordability and a fading housing shortage, making it a potential short opportunity. Despite strong recent performance, PulteGroup's backlog and new orders are declining, signaling reduced demand and increased risk exposure. The Federal Reserve's interest rate cuts should not significantly lower mortgage rates, meaning home affordability is unlikely to improve without lower prices. PulteGroup's aggressive investment in new projects amidst economic uncertainty could exacerbate losses if the economy enters a broader recession, though a 2008-repeat is unlikely for numerous reasons. krblokhin The home construction industry faces a strange mix of trends today; some support the market, while others are a gr

Summary Synchrony Financial faces risks from declining consumer credit and a potential economic recession, which should slow loan originations and may increase defaults. Despite slightly elevated delinquency rates, Synchrony's high interest rates provide a cushion, but its high loan-to-deposit ratio and unsecured loans pose risks. Consumer borrowing and spending are slowing, and low personal savings could potentially increase demand for credit and long-term default risks. I am bearish on SYF due to its exposure to negative economic headwinds, which I expect will increase its delinquencies over the coming year. J. Michael Jones A key theme to my outlook is the decline in consumer credit lending associated with potential recession risk. After being calm for most of the 2010s, consumer lendin

Summary B. Riley faces immense risks due to significant debt maturities, weak consumer brands, and a tarnished reputation that may harm its advisory business. Despite a 67% stock plummet, short interest remains high, indicating market skepticism about its survival and potential for a short squeeze. The company's future hinges on asset sales, creditor leniency, and potential take-private offers, making its equity value highly speculative. Given its seemingly binary prospects and the potential for significant upside, if liquidity risks are mitigated, I now have a neutral outlook on RILY. Reputation matters in investment banking, meaning B. Riley may struggle with keeping its key clients and employees. J Studios In July, I published "

Summary BND's short-term outlook is positive due to lower inflation expectations and a potential end to or reduction in QT activity. Key bond risks include potential oil price spikes from geopolitical tensions and rising corporate credit risk during stock market crashes. In the long term, BND is not ideal due to concerns about US government debt, which makes its debt unpayable without chronically elevated inflation. I expect a repeat of 2020-2022 when inflation declined in the short term but was eventually pushed to a new high as the Federal Reserve overstimulated. Speculators may take advantage of BND's current rally, but may not want to hold the ETF for too long. NoDerog/E+ via Getty Images The medium and long-term bond markets have reacted well to economic data indicating a slowdown. I'