Report
Wedbush Research

Wedbush Morning Call - June 19 2019 5:05PM

Underlyings
Adidas

ACM Managed Dollar Income Fund is a non-diversified, closed-end management investment company. This closed-end investment fund is designed for investors who seek high current income and capital appreciation. In order to achieve this objective, Co. invests primarily in high-yielding, U.S. and non-U.S. fixed income securities, denominated in U.S. dollars, that it expects to benefit from improving economic and credit fundamentals. Co. may utilize leverage through the investment techniques of reverse repurchase agreements and dollar rolls. As of Sept 30 2007, Co. had total assets of $192,614,325 and investment portfolio totalled $178,906,534.

Adobe

Adobe is a software company. The company's business is organized into three segments: Digital Media, which provides products, services and solutions that enable individuals, teams and enterprises to create, publish and promote their content; Digital Experience, which provides enterprises and brands a suite of products, services and solutions for creating, managing, executing, measuring and optimizing customer experiences that span from advertising to commerce; and Publishing, which contains products and services that address market opportunities including eLearning solutions, technical document publishing, web conferencing, document and forms platform, web application development and printing.

Alphabet Class A

Alphabet is a holding company. The company has two segments: Google and Other Bets. Google includes the company's main products such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware (including Nest), Search, and YouTube. The company provides a range of products across screens and formats. Also, the company delivers both performance advertising and brand advertising. Other Bets includes businesses such as Access, Calico, CapitalG, GV, Verily, Waymo, and X. Other Bets primarily engages in the sale of internet and TV services through Access as well as licensing and research and development services through Verily.

Amazon.com Inc.

Amazon.com serves consumers through its online and physical stores. The company also manufactures and sells electronic devices, including Kindle e-readers, Fire tablets, Fire TVs, and Echo devices, and the company develops and produces media content. The company provides programs that enable sellers to grow their businesses, sell their products in its stores, and fulfill orders through the company The company serves developers and enterprises of various sizes, including start-ups, government agencies, and academic institutions, through its Amazon Web Services segment, which provides a set of global compute, storage, database, and other service offerings. In addition, the company provides services, such as advertising.

Apple Inc.

Apple designs, manufactures and markets mobile communication and media devices and personal computers, and sells a variety of related software, services, accessories, and third-party digital content and applications. The company's products and services include iPhone?, iPad?, Mac?, Apple Watch?, AirPods?, Apple TV?, HomePod?, a portfolio of consumer and personnel software applications, iOS, macOS?, watchOS? and tvOS? operating systems, iCloud?, Apple Pay? and a variety of other accessory, service and support offerings. The company sells and delivers digital content and applications through the iTunes Store?, App Store?, Mac App Store, TV App Store, Book Store and Apple Music?.

Caleres

Caleres is a footwear retailer and wholesaler. The company is engaged in the operation of retail shoe stores and e-commerce websites as well as the design, sourcing and marketing of footwear for women, men and children. The company's Famous Footwear segment includes its Famous Footwear stores, which features a selection of athletic, casual and dress shoes for the entire family. The company's Brand Portfolio segment provides retailers and consumers a portfolio of brands by designing, sourcing and marketing footwear for women and men at a variety of price points. The company's Brand Portfolio segment sells footwear on a wholesale basis to retailers as well as through its branded retail stores and e-commerce businesses.

Cedar Fair L.P. Dep Rec

Cedar Fair is an amusement park operator. The company's amusement parks include: Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, OH; Knott's Berry Farm, near Los Angeles, CA; Canada's Wonderland, near Toronto, Canada; Kings Island, near Cincinnati, OH; Carowinds, in Charlotte, NC; Dorney Park & Wildwater Kingdom, in Allentown, PA; Kings Dominion, near Richmond, VA; California's Great America, in Santa Clara, CA; Valleyfair, near Minneapolis/St. Paul, MN; Worlds of Fun, in Kansas City, MO; and Michigan's Adventure, in Muskegon, MI. The company also manages and operates Gilroy Gardens Family Theme Park in Gilroy, CA.

Facebook Class A

Facebook is focused on building and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, and other surfaces. The company's products include: Facebook, which enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, which is a community for sharing photos, videos, and messages; Messenger and WhatsApp, which are messaging applications; and Oculus, which is a hardware, software, and developer ecosystem that allows people to come together and connect with each other through its Oculus virtual reality products. The company also sells advertising placements to marketers.

Intel Corp

Microsoft Corp.

Microsoft is a technology company. The company develops and supports software, services, devices, and solutions. The company provides an array of services, including cloud-based solutions as well as solution support and consulting services. The company also delivers relevant online advertising. The company's products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; and video games. The company also designs, manufactures, and sells devices, including personal computers, tablets, gaming and entertainment consoles, other devices, and related accessories.

National CineMedia

National CineMedia is a holding company. Through its subsidiary, National CineMedia, LLC, the company is engaged in the sale of advertising to national, regional and local businesses in Noovie, its cinema advertising and entertainment pre-show seen on movie screens across the U.S. The company also sells advertising on its Lobby Entertainment Network, a series of screens located in movie theater lobbies, as well as other forms of advertising and promotions in theater lobbies. In addition, the company sells online and mobile advertising through its Noovie digital product as well as through its Cinema Accelerator digital product to reach entertainment audiences beyond theater.

Nike Inc. Cl B

NIKE is engaged in the design, development and marketing and selling of athletic footwear, apparel, equipment, accessories and services. The company focuses its NIKE Brand product offerings in Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Training and Sportswear categories. The company markets products designed for kids, as well as for other athletic and recreational uses such as American football, baseball, cricket, golf, lacrosse, tennis, walking, and other outdoor activities. The company has license agreements that permit unaffiliated parties to manufacture and sell, using the company-owned trademarks, certain apparel, digital devices and applications and other equipment designed for sports activities.

Oracle Corp.

Oracle provides products and services that address enterprise information technology (IT) environments. The company's products and services include applications and infrastructure offerings. The company's cloud and license business engages in the sale, marketing and delivery of its applications and infrastructure technologies through cloud and on-premise deployment models including its cloud services and license support offerings; and its cloud license and on-premise license offerings. The company's hardware business provides Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management and other hardware-related software to support diverse IT environments.

SeaWorld Entertainment

SeaWorld Entertainment is a holding company. The company, through its wholly-owned subsidiary, SeaWorld Parks & Entertainment, Inc., owns and operates theme parks within the U.S. The company operates SeaWorld theme parks in Orlando, FL; San Antonio, TX; and San Diego, CA, and Busch Gardens theme parks in Tampa, FL, and Williamsburg, VA. The company operates water park attractions in Orlando, FL (Aquatica); San Antonio, TX (Aquatica); San Diego, CA (Aquatica); Tampa, FL (Adventure Island); and Williamsburg, VA (Water Country USA). The company also operates a reservations-only theme park in Orlando, FL (Discovery Cove) and a seasonal park in Langhorne, PA (Sesame Place).

Shoe Carnival Inc.

Shoe Carnival is a family footwear retailers. The company provides customers a a range of dress, casual and athletic footwear for men, women and children with an emphasis on national name brands. The company operates stores in the states and Puerto Rico and provides online shopping at www.shoecarnival.com. The company's stores carry complementary accessories such as socks, belts, shoe care items, handbags, sport bags, backpacks, scarves and wallets, while its e-commerce site provides certain handbags, sport bags and backpacks. Women's, men's and children's non-athletic footwear categories are further divided into dress, casual, sport, sandals and boots.

Six Flags Entertainment Corp.

Six Flags Entertainment is a theme park operator and also an operator of waterparks. The company's parks provide a selection of thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues and retail outlets. The company holds licenses for theme park usage of certain Warner Bros. and DC Comics characters throughout the U.S. (except the Las Vegas metropolitan area), Canada, Mexico and other countries. The company's licenses include the right to sell merchandise featuring the characters at the parks, and to use the characters in its advertising, as walk-around characters and in theming for rides, attractions and retail outlets.

Provider
Wedbush
Wedbush

Since our founding in 1955, Wedbush has been a leader in the financial industry providing our clients with a wide range of services; including institutional sales, correspondent clearing services, equity research, corporate and municipal finance, equity market making, fixed income trading, prime brokerage, and wealth management. Headquartered in Los Angeles, with 100 registered offices, the firm focuses on dedicated service, client financial safety, continuity, and advanced technology.

Analysts
Wedbush Research

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