ab 20 August 2025 Global Research Global Equity Strategy Quantitative Framework and Positioning Each month, we update the three key parts of our quantitative framework: 1) Scorecards − Our individual scorecards rank sectors based on valuations, sensitivity to our UBS macro scenario, earnings momentum, price momentum (where extreme), positioning and quality fundamentals. The composite scorecard combines all these factors into one overall score. 2) Earnings versus Trend − We look at the EPS versus trend to ev ...

Core Viewpoint - Lifeway Foods, Inc. has received a recommendation from Institutional Shareholder Services Inc. (ISS) advising shareholders to "DO NOT VOTE" in the ongoing dissident-led consent solicitation, indicating that the dissident group has not made a compelling case for change [1][2]. Company Overview - Lifeway Foods, Inc. is recognized as a leading supplier of kefir and fermented probiotic products in the U.S. and has been listed among Forbes' Best Small Companies [3]. - The company offers a variety of products including drinkable kefir, cheeses, and a ProBugs line for children, with distribution across the U.S., Mexico, Ireland, South Africa, the UAE, and France [3]. Financial Performance - Lifeway's financial performance has been directionally positive, with its share price rallying over the past year due to multiple positive earnings announcements [5]. - The total shareholder return has significantly outperformed peers in the Russell 3000 Food Producers Index [5]. Dissident Group Analysis - The critiques from the dissident group are viewed as lacking adequate context and do not clearly establish how their proposed changes would impact shareholder returns [5]. - The dissident nominees have a history of governance concerns during their previous tenures at the company [5]. Management's Position - The management team, led by CEO Julie Smolyansky, remains focused on maximizing shareholder value and encourages shareholders to follow ISS's guidance by taking no action on the consent solicitation [5].

Group 1 - Fresh Del Monte Produce (FDP) was reaffirmed as a 'buy' candidate despite previous weaknesses, indicating potential for recovery and growth [1] - The investment service focuses on cash flow and companies that generate it, highlighting the importance of value and growth prospects in the oil and natural gas sector [1] Group 2 - Subscribers have access to a 50+ stock model account, which includes in-depth cash flow analyses of exploration and production (E&P) firms, enhancing investment decision-making [2] - The service offers live chat discussions about the sector, fostering community engagement and real-time insights [2] - A two-week free trial is available for new subscribers, providing an opportunity to explore the offerings without initial investment [3]