Boring Portfolio Report
Friday, July 25, 1997
by Greg Markus
(TMFBoring)
ANN ARBOR, Mich. (July 25, 1997) -- The Boring Portfolio gave back 0.41% on Friday as major market averages closed mixed but basically unchanged.
That loss took little of the luster off what was a bright and busy week for the Borefolio, however. It rose 2.80% on the week, easily outpacing the benchmark averages. For the month of July to date, the Borefolio has risen 9.47%, as compared with 8.84% for the Nasdaq and 6.04% for the S&P 500.
Borefolio holdings PRIME MEDICAL SERVICES (Nasdaq: PMSI), TIDEWATER (NYSE: TDW), and ATLAS AIR (Nasdaq: ATLS) all reported quarterly results during the week. It is our pleasure to provide you with a summary of the three companies' follow-up conference calls in the aptly named Conference Calls section of The Motley Fool.
Prime's and Tidewater's conference calls were upbeat, as management at each company took pleasure in discussing their second quarter results and prospects for 1997 and beyond.
Atlas's execs had the weight of the world on their shoulders as they fielded pointed questions from analysts and shareholders who wanted to know why the company had allowed itself to get stuck with five poorly performing air freighters on lease from FEDERAL EXPRESS (NYSE: FDX) and, more importantly, how management intended to make things right after they hand back those winged lemons to FedEx in January.
Answer: add two BOEING (NYSE: BA) 747-200 freighters to the fleet yet this year, take delivery of the first four of ten brand new 747-400s next year beginning in the second quarter, and possibly add as many as three other 747-200s currently under negotiation. That the stock basically held its own on Thursday and Friday suggests that management's response may have assuaged at least most of the crowd.
The week's big Borefolio winner was dark-horse CARLISLE COMPANIES (NYSE: CSL). The Syracuse, NY-based maker of everything from roofing supplies to cheese-making equipment shot up 12.5% to an all-time high of $42 1/16 following its superb second-quarter report and quietly confident perspective on the balance of 1997 and beyond. You'll find a summary of Carlisle's conference call over in the ... well, you know.
Borefolio lead dog BORDERS GROUP (NYSE: BGP) was unchanged for the week, at $26 1/8. On Wednesday, Borders announced that Victor L. Lund had joined its board of directors. Mr. Lund is Chair and CEO of AMERICAN STORES (NYSE: ASC), one of the nation's largest grocery/drug retailers. Left-coasters may better recognize American Stores by the names of some of its, um, American stores: Lucky, Jewel, Star Market, and Osco.
American stores is based in Salt Lake City. Perhaps in honor of Mr. Lund joining its governing body, Borders announced the planned opening of a new superstore in SLC later this year, as well as an opening on the other side of the Rockies, in Colorado Springs.
All in all, one fine week.
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Evening News
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This material is for personal use only. Republication and redissemination,
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Stock Change Bid ATLS - 5/16 22.25 BGP - 1/16 26.13 CSL +1 42.06 CSCO - 3/16 79.69 GNT - 1/16 45.00 ORCL - 1/16 54.69 OXHP -2 1/2 85.00 PMSI - 5/16 11.50 TDW - 1/16 48.00
Day Month Year History
BORING -0.41% 9.47% 22.40% 40.86%
S&P: -0.18% 6.04% 26.71% 50.99%
NASDAQ: +0.03% 8.84% 21.58% 50.78%
Rec'd # Security In At Now Change
2/28/96 400 Borders Gr 11.26 26.13 132.09%
5/24/96 100 Oxford Hea 48.02 85.00 76.99%
8/13/96 200 Carlisle C 26.32 42.06 59.78%
2/2/96 200 Green Tree 30.39 45.00 48.09%
6/26/96 100 Cisco Syst 53.90 79.69 47.84%
3/8/96 400 Prime Medi 10.07 11.50 14.22%
11/21/96 100 Oracle Cor 48.65 54.69 12.41%
12/23/96 100 Tidewater 46.52 48.00 3.17%
3/5/97 150 Atlas Air 23.06 22.25 -3.51%
Rec'd # Security In At Value Change
2/28/96 400 Borders Gr 4502.49 10450.00 $5947.51
5/24/96 100 Oxford Hea 4802.49 8500.00 $3697.51
8/13/96 200 Carlisle C 5264.99 8412.50 $3147.51
2/2/96 200 Green Tree 6077.49 9000.00 $2922.51
6/26/96 100 Cisco Syst 5389.99 7968.75 $2578.76
11/21/96 100 Oracle Cor 4864.99 5468.75 $603.76
3/8/96 400 Prime Medi 4027.49 4600.00 $572.51
12/23/96 100 Tidewater 4652.49 4800.00 $147.51
3/5/97 150 Atlas Air 3458.74 3337.50 -$121.24
CASH $7890.00
TOTAL $70427.50
