The company reported weaker-than-expected fourth
Posted: Thu Jul 10, 2025 6:32 am
Biopharmaceutical company Amar in was another top contributor. The company was up
significantly in the period on positive news about one of its patents on a drug to treat
cardiovascular disease. The most significant source of negative performance was stock selection in the health
care sector, most notably IPC The Hospitalist Company, a provider of hospitalist services in the United States. Hospitalist medicine is organized around inpatient care, primarily delivered in hospitals, and is focused on providing, managing and coordinating the care of
hospitalized patients. The company reported solid fourth-quarter results and its guidance for 2012 was in line with expectations, but its productivity levels appear to be returning to
historic norms, which should have a negative impac mobile databaset on gross margins going forward. Other detractors included beauty-products maker Elizabeth Arden. Investors showed
some skepticism about management’s plans to redo much of the company’s brand image
and pricing, moving more products upscale to spa positioning with luxury price points. The
worst performing financial stock in the portfolio was real estate investment trust Summit
Hotel Properties. at
a time when many hotel companies are posting improving profits on increased corporate
and luxury travel.
Outlook
Our cautiously optimistic outlook three months ago has played out much faster and
stronger than we had expected, thanks to a global rally that pushed the S&P 500 Index up
12.59% and our benchmark index up 13.28%. At the time, we indicated that we had
positioned the portfolio to benefit from a modestly expanding economic environment with
significantly in the period on positive news about one of its patents on a drug to treat
cardiovascular disease. The most significant source of negative performance was stock selection in the health
care sector, most notably IPC The Hospitalist Company, a provider of hospitalist services in the United States. Hospitalist medicine is organized around inpatient care, primarily delivered in hospitals, and is focused on providing, managing and coordinating the care of
hospitalized patients. The company reported solid fourth-quarter results and its guidance for 2012 was in line with expectations, but its productivity levels appear to be returning to
historic norms, which should have a negative impac mobile databaset on gross margins going forward. Other detractors included beauty-products maker Elizabeth Arden. Investors showed
some skepticism about management’s plans to redo much of the company’s brand image
and pricing, moving more products upscale to spa positioning with luxury price points. The
worst performing financial stock in the portfolio was real estate investment trust Summit
Hotel Properties. at
a time when many hotel companies are posting improving profits on increased corporate
and luxury travel.
Outlook
Our cautiously optimistic outlook three months ago has played out much faster and
stronger than we had expected, thanks to a global rally that pushed the S&P 500 Index up
12.59% and our benchmark index up 13.28%. At the time, we indicated that we had
positioned the portfolio to benefit from a modestly expanding economic environment with