Jim Lebenthal

Waymo's self-driving is here and will see hockey stick-shaped growth.

Enjoys a secular tailwind from the younger demographic and online betters.

There remains strong demand for Las Vegas, and Wynn will open a resort in Dubai in 2027. Lower interest rates will benefit resorts.

Has broad platform of diseases they treat. Trades around 15x PE and pays a 2% dividend yield. Shares are still snapping back from some news in China last year, so there's more room to recover.

Anything tied to debt is rallying in the face of interest rate cuts. DAL has been reducing debt, but there's still a lot. Airline traffic remains robust in the US. DAL is very attractive now.

Has tripled for him over 2.5 years, though has trimmed a little a few weeks ago only to manage risk. Is up 42% this year. Is key in the AI build-out long-term.

Is up 36% this quarter. Their turnaround plan is finally in place.

Strip out the stock portfolio, and its operating business is very cheap at 12-13x PE.

This doesn't help their core problem. Intel is not in a good position.

Is in the sweet spot, AI, and giving excellent results. Momentum is there. All systems go. The only negative is its valuation, but its momentum trumps that.

Had a decent quarter, but terrible guidance, 10% below the street in a sector that should be humming (semis equipment). AMAT has responded negatively for the last 6 quarters. Is not performing. He sold.

He will reserve final judgement until the next earnings report in September. If they show weak results, or good results but the street doesn't care again, then he will sell. But he doubts that. Everyday, we use PDF files. There's competition, but Adobe is doing a good job.

A high-beta name. Peer Valaris came out with a very good report, expecting contracting opportunities ahead. Expects the same from RIG.

It's been consolidating and has to outperform earnings to break out which he expects, given strong theme parts and streaming. It's neither cheap or pricey at 20x PE.