Core Viewpoint - Whirlpool has requested a U.S. trade agency to prohibit the import and sale of microwaves from South Korean and Chinese manufacturers, claiming that these companies have infringed on its patented technology [1] Group 1: Company Actions - Whirlpool is taking legal action to protect its intellectual property by seeking a ban on imports from competitors [1] - The company alleges that rival manufacturers have copied its patented technology for an extended period [1] Group 2: Industry Implications - This move by Whirlpool highlights the ongoing competition and patent disputes within the microwave manufacturing industry [1] - The request for a trade agency intervention indicates a potential escalation in trade tensions between U.S. companies and foreign manufacturers [1]

Core Insights - The article provides a comprehensive market analysis of Whirlpool Corporation, focusing on its financial performance and market position [1] Financial Performance - Whirlpool Corporation reported a revenue of $19.4 billion for the last fiscal year, reflecting a year-over-year decrease of 3% [1] - The company's net income for the same period was $1.2 billion, down from $1.4 billion the previous year, indicating a decline of approximately 14% [1] - The gross margin for Whirlpool was reported at 18%, which is a slight decrease from 19% in the prior year [1] Market Position - Whirlpool holds a significant market share in the home appliance sector, with a competitive edge in North America, where it commands approximately 25% of the market [1] - The company is facing increasing competition from both domestic and international brands, which is impacting its pricing strategy and market share [1] - Recent trends indicate a shift towards energy-efficient and smart appliances, which Whirlpool is adapting to by investing in new technologies [1] Strategic Initiatives - Whirlpool has announced plans to invest $500 million in research and development over the next three years to enhance its product offerings [1] - The company is also focusing on expanding its presence in emerging markets, aiming to increase its market penetration in Asia and Latin America [1] - Sustainability initiatives are a key focus, with Whirlpool committing to reducing its carbon footprint by 25% by 2025 [1]

Group 1: David Tepper's Investment Moves - David Tepper, a prominent hedge fund manager, has trimmed several AI and technology-related stocks while increasing his stake in consumer discretionary stocks, particularly Whirlpool [2][3][5] - Tepper completely sold out of Intel and Oracle, both of which saw significant stock price increases in Q3, with Intel rising about 50% and Oracle by approximately 40% [4][5] Group 2: Whirlpool's Stock Performance - Whirlpool has experienced a significant decline in stock price, down 75% from its 2021 highs and 40% year-to-date, which may present a value opportunity for investors [6][7] - The company's operating income has decreased from approximately $2.5 billion during the pandemic housing boom to just over $800 million currently, reflecting the decline in stock price [9] Group 3: Market Conditions Impacting Whirlpool - The decline in Whirlpool's sales is attributed to a post-pandemic housing bust, with homeowners reluctant to move and prospective buyers priced out of the market, leading to a slowdown in housing sales [8] - Tariffs imposed this year have negatively impacted Whirlpool, as foreign competitors have increased their sales to U.S. retailers, who have pre-purchased foreign items to avoid tariffs, thus reducing orders for Whirlpool's domestically produced goods [11][12] Group 4: Future Outlook for Whirlpool - Tepper's investment in Whirlpool suggests a belief in a potential recovery, as the CEO indicated that the full impact of tariffs would only take effect recently, which may lead to increased purchasing of Whirlpool products [13][14] - A housing recovery could serve as a catalyst for improved sales and earnings for Whirlpool, contingent on factors such as moderating long-term interest rates and homeowners beginning to sell their properties [14]

Core Viewpoint - Whirlpool's shares have significantly underperformed over the past year, with a loss of approximately 39% in value, but recent 13F filings indicating purchases by investor David Tepper have led to a 6% increase in share price on Friday [1]. Company Performance - Whirlpool's stock has decreased by about 39% over the last year [1]. - The recent buying activity from David Tepper has positively impacted the stock, resulting in a 6% rise in share price [1]. Investor Sentiment - The buying from a notable investor like David Tepper suggests a potential shift in sentiment towards Whirlpool, which may attract further interest from other investors [1].

Core Insights - Appaloosa LP, led by David Tepper, reported a total market value of $7.38 billion for its U.S. stock holdings as of September 30, 2025, reflecting a 14% increase from the previous quarter's $6.45 billion [1][2] - The firm added 10 new stocks, increased holdings in 9 stocks, reduced holdings in 24 stocks, and completely sold out of 3 stocks, with the top 10 holdings accounting for 57.59% of the total market value [1][2] Holdings Summary - Alibaba (BABA.US) is the largest holding with 6.45 million shares valued at approximately $1.15 billion, representing 15.61% of the portfolio, down 8.73% from the previous quarter [2][3] - Amazon (AMZN.US) ranks second with 2.5 million shares valued at about $550 million, making up 7.43% of the portfolio, a decrease of 7.41% in share count [2][3] - Whirlpool (WHR.US) is the third largest holding with 5.5 million shares valued at around $430 million, a significant increase of 1966.95% in share count [3][5] - Nvidia (NVDA.US) is fourth with 1.9 million shares valued at approximately $354 million, an increase of 8.57% in share count [3][5] - Google (GOOG.US) is fifth with about 1.39 million shares valued at around $337 million, down 7.50% in share count [3][5] Significant Transactions - Appaloosa significantly increased its holdings in the KraneShares CSI China Internet ETF (KWEB.US), Qualcomm (QCOM.US), and Baidu (BIDU.US) [5] - The firm completely sold out of Intel (INTC.US), Oracle (ORCL.US), and Beike (BEKE.US) [5] - The top five purchases by percentage change in the portfolio included Whirlpool, AMD, KWEB, Qualcomm, and Fiserv (FISV.US) [6][7] - The top five sales by largest value included UnitedHealth (UNH.US), Intel, Vistra Energy (VST.US), Amazon, and Meta (META.US) [6][7]

Core Insights - Appaloosa LP, led by David Tepper, reported a total market value of $7.38 billion for its U.S. stock holdings as of September 30, 2025, reflecting a 14% increase from the previous quarter's $6.45 billion [1][2] Holdings Summary - Appaloosa added 10 new stocks, increased holdings in 9 stocks, reduced holdings in 24 stocks, and completely sold out of 3 stocks [1][2] - The top 10 holdings accounted for 57.59% of the total market value [2] Top Holdings - Alibaba (BABA.US) is the largest holding with 6.45 million shares valued at approximately $1.15 billion, representing 15.61% of the portfolio, down 8.73% from the previous quarter [3][4] - Amazon (AMZN.US) is the second largest holding with 2.5 million shares valued at about $550 million, accounting for 7.43% of the portfolio, down 7.41% [3][4] - Whirlpool (WHR.US) ranks third with 5.5 million shares valued at approximately $432 million, making up 5.85% of the portfolio, with a significant increase in holdings by 1966.95% [3][4] - Nvidia (NVDA.US) is the fourth largest holding with 1.9 million shares valued at around $354 million, representing 4.80% of the portfolio, up 8.57% [3][4] - Google (GOOG.US) is the fifth largest holding with approximately 1.39 million shares valued at about $337 million, accounting for 4.58% of the portfolio, down 7.50% [3][4] Significant Transactions - Appaloosa significantly increased its stake in the KraneShares CSI China Internet ETF (KWEB.US), Qualcomm (QCOM.US), and Baidu (BIDU.US) [4] - The firm completely sold out of Intel (INTC.US), Oracle (ORCL.US), and Beike (BEKE.US) [5] - The top five purchases by percentage change in the portfolio included Whirlpool, AMD (AMD.US), KWEB, Qualcomm, and Fiserv (FISV.US) [6][7] - The top five sales by largest value included UnitedHealth (UNH.US), Intel, Vistra Energy (VST.US), Amazon, and Meta (META.US) [6][7]

New Positions - Appaloosa Management has taken new stakes in several companies, with Advanced Micro Devices becoming one of the fund's top holdings [2] - The fund has also invested in another airline company for the second consecutive quarter and acquired new stakes in multiple regional banks [2] Exited Positions - In the third quarter, Appaloosa exited its positions in three companies, including a relatively short trade in Intel, which was initiated in the second quarter and sold off in the third quarter [3] Changes to Positions - The fund disclosed changes to existing stock positions, with the largest increases in shares for Advanced Micro Devices, Fiserv Inc, American Airlines Group, and several regional banks [4] - Whirlpool Corp had the largest percentage increase at +1,967%, followed by Goodyear Tire & Rubber at +496% and Qualcomm Inc at +256% [6][7] Decreased Positions - The fund sold off several stocks it had recently added or increased during the second quarter, including a continued reduction in Alibaba, which remains the largest position at 16% [7][10] Top Holdings - The top holdings in the fund include Alibaba at 16%, Amazon.com Inc at 7.4%, and Whirlpool at 5.9% [11]

Core Insights - The initial analysis of Whirlpool Corporation (WHR) was published on October 5, 2025, with a "sell" rating assigned to the stock [1] Group 1 - The analysis emphasizes the importance of seeking undervalued stocks while balancing risk and reward [1] - The belief is that the best investment ideas are often the simplest, and contrarian views are preferred [1]

Whirlpool Company Overview - Whirlpool's sales increased by 1% year-over-year to $4.03 billion, but non-GAAP EBIT decreased by 22.7% to $180 million, or $2.09 per share, down from $233 million in Q3 2024 [1] - The stock has declined 65% over the past year, reaching a new 52-week low of $69.01, marking a significant drop from its all-time high of $257.68 on May 1, 2021 [2][3] Financial Performance and Future Guidance - The company expects flat sales of $15.8 billion for 2025, with earnings projected at $7.00 per share, trading at 9.9 times its 2025 estimate, indicating a valuation that is neither cheap nor expensive [5] - Free cash flow is projected to decrease from $698 million in 2019 to $200 million in 2025, but is expected to rise significantly in 2026 [7] Market Position and Strategic Initiatives - KitchenAid's market share reached historical highs in Q3, with healthy profit margins, and promotional activities are expected to return to pre-COVID levels, which should enhance gross and operating margins in 2026 [6] - Whirlpool plans to invest $300 million in its Ohio manufacturing facilities, focusing on increasing U.S. manufacturing capabilities [7] Investment Considerations - Current financials may not justify buying WHR stock, but potential improvements in 2026 and beyond could present investment opportunities [8]

Corporate Investment and Reshoring - The combination of President Trump's reciprocal tariffs, regulatory cuts, and tax incentives has led to over $15 trillion in US corporate investment and revitalization of US manufacturing [2] - Apple Inc. announced a $500 billion investment to reshore manufacturing of iPhones, iPads, and iMacs back to the US, projecting the creation of 2.9 million jobs maintained and 20,000 new hires across 24 facilities [7][6] - Nvidia Corp. committed $500 billion to manufacture AI chips and supercomputers in the US, ensuring the security of AI development and creating hundreds of thousands of new jobs [9][13] - Intel Corp. has pledged $100 billion to reshore semiconductor manufacturing in the US, with significant investments in Oregon, Arizona, Ohio, and New Mexico [18][15] - General Electric (GE) announced a $3 billion commitment to expand domestic manufacturing across its 11 factories, building on a previous $6.5 billion investment since 2016 [29] - Whirlpool Corp. plans to relocate production from Mexico and China back to the US, with a $490 million budget for a new washer/dryer assembly line in Kentucky, creating 800 new jobs [31][32] Industry Trends - The reshoring trend is particularly pronounced in the semiconductor sector, driven by national security concerns and the CHIPS Act, which aims to reduce dependence on foreign manufacturing [19][20] - The US semiconductor output is currently less than half that of Taiwan, highlighting the need for increased domestic production capabilities [20] - The overall trend of reshoring is seen as a response to previous decades of offshoring, with companies now focusing on bringing jobs and manufacturing back to the US [33]