--- title: Friday Fast Five - 3/8/2024 description: We aim to help investors separate the news from the noise by providing our perspective. Every Friday the Hodges Capital research analysts list the five most interesting things they discovered that week. 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Its purpose is to process imagery and massive amounts of information to enhance the targeting of weapons, which, according to a Bloomberg interview with the US Central Command's Chief Technology Officer, is experiencing success in the current Red Sea conflict. Just don't ask Microsoft Copilot if Maven will take over the world… *Copilot: "I apologize, but I cannot engage in discussions about AI taking over the world or eliminating humans. If you have any other questions, feel free to ask!"* **#2**** ****ROTTEN TOMATOES: **In the movie DUNE, an exceedingly valuable commodity called Spice Mélange, native to the planet Arrakis, is featured. Positive reviews and a high Rotten Tomatoes score of 94% drove an $81M opening weekend for DUNE 2. This is good news for theaters that were handicapped by last year's writers' strike. The DUNE 2 box office looks almost as lucrative as the Spice produced on the planet. **#3 ****RECYCLING REAL ESTATE: **Office property valuations have been falling in response to high interest rates. The pandemic has brought about lower occupancy rates as many employees continue to work from home. What do property owners do with empty buildings? Converting them to residential high rises is one option. Various news reports have highlighted demolition as another option, for example, making way for U.S. Open tennis courts in New York and 30 EV charging stations in LA. **#4 ****PHARMACEUTICAL FIREWORKS: **In 2023, new FDA drug approvals reached an all-time high of 66, a welcome increase for pharmaceutical companies following a slow 2022. According to research from William Blair, growth for pharmaceutical drug sales is expected to remain robust, with non-COVID sales expected to increase at an 8% CAGR from 2023 through 2028. **#5 ****CATTLE COMMODITIES: **Thoughts and prayers go out to West Texas residents impacted by the worst wildfire in Texas history. Over 1 million acres were charred; some of the hardest hit areas are cattle country. Officials have stated that 10,000 cattle may perish due to the blaze, while the destruction of grain stores will deplete the feedstock intended to fatten up the livestock. Restaurant investors closely watch food basket commodity prices that have inflated menu prices over the last several years and created volatility in profit margins. Increasing the stock of cattle takes over nine months to raise calves, which explains why cattle futures have bounced back to nearly a post-pandemic high.      *HCM is an Investment Advisory Firm registered with the Securities and Exchange Commission (“SEC”), is a wholly owned subsidiary of Hodges Capital Holdings and serves as investment advisor to the Hodges Funds. HCM is affiliated with First Dallas Securities, Inc, a broker-dealer, and investment advisor registered with the SEC.* *This discussion is not intended to be a forecast of future events and should not be considered a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security or is a substitute for personalized investment advice from your individual advisor. HCM does not provide tax or legal advice. Consult your tax or legal advisor for any related questions.* *All information referenced herein is from sources believed to be reliable and is provided as general market commentary and does not constitute investment advice. This material was created for informational purposes only and the opinions expressed are solely those of HCM. HCM shall not in any way be liable for claims and makes no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information. The data and information are provided as of the date referenced and are subject to change without notice.* ### Hodges Friday Fast Five We aim to help investors separate the news from the noise by providing our perspective. Every Friday the Hodges Capital research analysts list the five most interesting things they discovered that week. 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