Research Library
Below is our research library, listed in reverse chronological order. Please use the search box to look for research on a specific company or topic, or use the Calendar, Archives, or Sector links at left to browse for research from a specific time period or sector. If you are a Wolfe Trahan client and can not access any of the links in our library, please contact ITSupport@WolfeResearch.com to request our PDF decryption plug-in.
Inside Airlines: AMR pilot vote result scenarios; other airline items
AMR pilot vote result expected today and we believe a consensus opinion is forming that if APA (AMR’s pilot union) votes to reject AMR’s last best offer, it lessens the likelihood of an LCC-driven merger with AMR. We disagree. We discuss this and more on other airlines in this note.
KSU: Meetings with Management
We hosted meetings in NYC with KSU’s CFO, Treasurer, and VP of Investor Relations. Mgmt was upbeat about near-term trends as vols finished strongly in July after avg. daily carloads reached an all-time record in June. Total vols are tracking up 6.5% QTD in 3Q, better than +4.0% in 2Q and modestly above our prior +6.0% estimate for the qtr. We believe KSU’s long-term growth story remains very attractive with numerous new growth opportunities in the U.S. and Mexico, but it continues to trade at a large valuation premium to the other Class I rails. We would recommend buying KSU on pullbacks.
Research Library
- Coverage List
- Consolidated Research Library
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- Portfolio Strategy & Quantitative Analysis Library
- Accounting & Tax Policy Library
- Auto & Truck Manufacturing Library
- Airlines Library
- Conference Calls
- Interactive Doh! Models
- Ed Wolfe Bi-Weekly Freight Update