Fortune Brands Home & Security

We got a couple of them, um, that I wanted to cover.

And so the one that I thought was the most interesting just because it's been all the rage of talking about composite decking is that Fortune Brands announced that they had ag- ex- executed a definitive agreement to sell its Fiberon composite decking to s- a business subsidiary of Interplast Group.

So I thought that was kind of interesting 'cause we saw Moisture Shield go to UFP earlier this year.

Hm.

Okay.

It was a catalyst called FBIN, Frank Boy Indian Nancy, Fortune Brands Innovations.

It was added to Citibank's positive catalyst watch list for 90 days.

Okay, now we're going to move on and we're going to talk about our pick of the day.

With the Trump administration immigration crackdown, that's a demographic that's probably not buying as much beer as they used to.

In short, the company's been struggling for a long time, to the point where they brought in a new CEO, Nick Fink, from Fortune Brands Innovations.

Now, before Fortune Brands, by the way, Fink was an executive at Beam Suntory.

Uh, so he did have some alcohol industry experience.

At the end of the quarter, Comcast announced a spinoff of NBC Universal, an important step that we believe should help highlight the value embedded within the company.

Comcast ended the quarter at 24.55. Fortune Brands Innovations is a building products company whose brands include Moen, ThermaTru, and Master Lock.

Over the past several years, both a challenging housing market and poor execution by prior management led to share losses and profit erosion.

Despite these challenges, we believe the company's brand remains strong and its competitive position is intact.

joined by Brian Lance, until very recently, Vice President of Investor Relations and Communications at Ferguson, where he played a central role in shaping the company's financial narrative and guiding its communication strategy, including during the company's relisting from the UK to the US.

Before joining Ferguson, Brian spent a decade at Fortune Brands, where his influence and impact were instrumental in the new public company's journey as he built the IR and communications functions from the ground up.

Interestingly, Brian's evolution into communications and IR began at Hannah's Brands, where he held key finance roles, moved to sales leadership roles with major retail partners, including Walmart, and eventually led the spin-off from Sarah Lee, building the IR function and leading transformation initiatives for the newly formed public company.

Brian is currently preparing to launch Clarity Financial Communications for short engagements relating to listing moves, spin-offs, IPOs and CEO-CFO transitions.

My probability of success is diminished from doing that.

In fact, I feel so strongly about this centralized messaging.

And at Ferguson and Fortune Brands, you know, I led both the communications functions as well as the IR function.

I think those two things are inseparable, right? And sort of that whole team and role effort has to come together around that messaging to unify that coming into an event.