Sweet 16 Update - July 30

[dan_s]

Our Sweet 16 Growth Portfolio was down with the rest of the market last week. GPOR is the only stock that was up for the week. SunTrust put out a glowing report on the company and raised their price target to $45.

Sweet 16: down 6.0%
S&P 500: down 3.9%

PTEN is the only Sweet 16 company to report 2nd quarter results so far. Their EPS beat my forecast by 3 cents and I have increased my Fair Value estimate to $42/share. I now like all of the onshore drillers on our Watch List. PTEN is my Top Pick because of the stunning growth of their pressure pumping business, which is now a third of their total revenues.

Sweet 16: Up 13.1% YTD and Up 95.1% since January 1, 2010
S&P 500: Up 3.9% YTD and Up 15.9% since January 1, 2010

Many of the Sweet 16 will be reporting 2nd quarter results next week. I will do my best to get the forecast models updated and posted to the website shortly after they announce earnings.

We have several luncheons scheduled in August and September. Check the Calendar tab and register for each event.