Carpenter Technology Corporation CRS

Carpenter Technology has delivered significant long term share gains, which puts a spotlight on a simple question for anyone looking at the stock today: how much of that story is actually supported by the cash the business can generate? After such a strong run and a recent pullback, the issue is whether the current price fairly reflects those cash flows or leans too heavily on expectations. Over the past 5 years the stock has climbed about 12x. That makes it important to ask how robust...

Howmet Aerospace (HWM) has fallen about 21% from its August high, and the question is whether that is a gift or a warning. Its own record says falls this size have paid off more often than not, and that you will probably watch it fall further first. What knocked the stock down is a scare about who else might make turbine blades. Start with what the record paid.