An Ode to Vicki Hollub
Vicki Hollub is retiring after a decade that reshaped Occidental Petroleum. She steered Oxy through a $57 billion Anadarko acquisition, a $12 billion CrownRock deal, and a disciplined deleveraging campaign that cut debt to $13.8 billion, targeting $10 billion by year‑end. Production rose from 650,000 to 1.4 million barrels per day and the resource base more than doubled to 16.5 billion BOE, while U.S. output grew to 83% of total. The company now holds a 30‑year runway and a sub‑$40 break‑even cost, positioning it for dividend growth and share buybacks once debt targets are met.
Silver Bullet
Bowhead (BOW) and Kinsale (KNSL) operate in the excess and surplus (E&S) lines, a niche market for complex, hard‑to‑place risks. Social inflation—driven by aggressive litigation, third‑party funding, and a surge in nuclear verdicts—has pushed standard carriers out, inflating E&S direct...
Wake Up, WEX
WEX Inc., a $5.6‑$6.4 billion payments‑infrastructure firm, faces a proxy battle as 4.9% activist Impactive Capital nominates three directors to a shrunken nine‑seat board. The activist targets the combined CEO‑Chair role, underperforming Mobility growth, a faltering Corporate Payments strategy, and what...
The Fourth Company
Bowhead Specialty Holdings (NYSE:BOW), a $1 billion market‑cap pure‑play excess‑and‑surplus (E&S) insurer, went public in 2024 and trades about 45% below its 52‑week high. The company targets long‑tail, high‑complexity casualty, professional‑liability and healthcare‑liability lines while using its Baleen digital platform to...
Molina Q1 2026
Molina Healthcare posted Q1 2026 adjusted earnings per share of $2.35, topping the $2.17 consensus estimate, while operating cash flow reached $1.1 billion. All three segment medical cost ratios (MCRs) beat full‑year guidance, yet management kept the full‑year EPS target at...
Lululemon’s 12% Sell-Off
Lululemon’s stock plunged 12% after the board announced former Nike executive Heidi O’Neill as its next CEO. The appointment comes amid a brewing boardroom showdown with founder Chip Wilson, who has launched a rival technical‑apparel platform and is vying for...
Novo Nordisk: Value Trap or Value Investment?
Novo Nordisk, once Europe’s most valuable company, has seen its share price tumble more than 56% from a 52‑week high after a series of setbacks. The obesity drug CagriSema failed to meet its primary endpoint in a Phase 3 trial, prompting...
New Era of Berkshire Hathaway
Greg Abel, Berkshire Hathaway's new CEO, wrote a $1.8 billion check to buy a 2.49% stake in Japan's Tokio Marine Holdings, pairing the equity with a ten‑year quota‑share reinsurance treaty, a joint M&A clause and a five‑year exclusivity period. The move...