Talenom

Talenom issued a profit warning, published Easor's listing prospectus, acquired three small accounting firms in Spain, provided guidance for both businesses for next year, and organized an investor webcast.

The stock's valuation is now extremely attractive through a sum-of-the-parts analysis but realizing this will require not only Easor's listing but also profitability improvements in international operations. Nevertheless, we believe the risk/reward ratio is very attractive.