Five interesting things that Hodges Capital research analysts discovered this week...
#1 RISE IN BANKRUPTCY: According to the Administrative Office of U.S. Courts, the number of companies declaring Chapter 11 bankruptcy is rising, with new cases up 42.8% year-over-year in the first quarter of 2023. This trend is not surprising considering slower economic conditions in several sectors of the economy, along with higher interest rates and tighter credit conditions among regional banks.
#2 HOUSING DATA: Data from the National Association of Home Builders indicated that new home sales increased by 4.1% in April despite a recent decline in mortgage applications.
#3 REMOTE WORK: Barron’s published that 42% of companies in a recent survey are requiring workers to be in the office full time, down from 49% three months earlier.
#4 SMALL CAPS VERSUS APPLE: The market capitalization of Apple Inc (AAPL), which measures the Company's total worth based on its stock price, recently reached $2.7 trillion and now exceeds the entire value of the Russell 2000 Index.
#5 MEMORIAL DAY TRADITION: Wearing a red poppy to remember those fallen in war is a tradition that dates back to World War I. The practice was inspired by the poem "In Flanders Field,” written by John McCrae, a Canadian field surgeon who treated the wounded after the Second Battle of Ypres in 1915.
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