Halister News

--BENJAMIN HARVEY

(Bloomberg) -- California Air Resources Board concluded that complete conversion of all 600,000 affected cars in U.S. is not possible, Welt am Sonntag newspaper reports.

• CARB considering allowing cars on road that emit more than permitted pollutants in return for VW payments for emissions above allowed level, newspaper said, citing a report
• That could be cheaper for VW than repurchasing vehicles
• READ: German Prosecutor to Decide on VW Cheating Charges in 2017: WamS
• NOTE: VW’s Diess, Sanz Informed of Diesel Cheating in August: Spiegel

(Bloomberg) -- Value stocks are poised to shine after 9 years of underperformance, and that’s good news for unloved companies including Citigroup (C), Goldman Sachs (GS), Ford (F), Pfizer (PFE), Starbucks (SBUX), Barron’s said in the cover story of the March 14 issue.

• Growth stocks, notably FANGs -- Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google (GOOG) -- now known as Alphabet -- are getting too rich; value stocks too cheap to ingore and there are thousands.
• Delphi Management President Scott Black bought Boeing (BA), Intel (INTC), Ralph Lauren (RL)
• Value investor Mark Boyar “is partial to media stocks,” including Time Warner (TWX), Discovery Communications (DISCA)

Other highlights from this week’s Barron’s (subscription required):

• Actively managed “smart beta” ETFs, which accounted for more than a third of ETF launches in 2015, may offer a way to beat indexes.
• Ingersoll-Rand (IR) could return 20% over the next year as it makes most of its money in climate control, not energy.
• Michael Kors (KORS) “comeback has only begun” and could rally 30% thanks to new products, geographic expansion, move into menswear.
• Ashland (ASH) poised to jump almost 45% with planned spinoff of Valvoline.
• Sizing Up Small-Caps column: Halyard Health (HYH), a 2014 Kimberly- Clark spinoff, may double in 2-3 years as medical- product maker is expected to announce its first acquisition this year.