My decision to call Ship Finance (SFL) a Top Idea back on September 19, 2013 wasn't a particularly popular one, but the shares of this large marine vessel leasing company have risen almost 25% since then, while paying a healthy dividend along the way. I'll call that a short-term victory, particularly as Ship Finance has performed just as well or better than a lot of the vessel operators, including Nordic American Tankers (NAT), Costamare (CMRE), and Navios Maritime Partners (NMM).
There seems to be more optimism now about tanker and vessel rates than there has been in some time. Ship Finance has also managed to add vessels to its fleet, with attractive charters, while growing the drilling rig business. I am not as concerned about Ship Finance's ability to maintain its dividend payments, and apparently neither is management, as they recently increased the payout. The
Complete Story » By Michael Fitzsimmons:
PetroQuest Energy Corp. (PQ) is a small-cap ($340 million) independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in East Texas, Oklahoma, South Louisiana and the shallow waters of the Gulf of Mexico. The company's strategy is to use the cash flow generated from its Gulf Coast assets (which require minimal cap-ex) to develop its high return onshore assets - in particularly its liquids rich acreage in the Woodford shale in Oklahoma. The company also has upside in the Cotton Valley play of East Texas. The strategy to focus on higher IRR onshore production and increased production of liquids will lead to better profitability, increased proved reserves, and ultimately a significant increase in enterprise value. I have a 12-month price target of $11/share based on another doubling of PV-10 in 2014 while at the same time I expect the company to
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Complete Story » By Markus Aarnio:
Andrew Peller Limited (OTC:ADWPF) engages in producing, bottling, and marketing wine products and other beverages.
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Insider buying during the last 30 days
Here is a table of Andrew Peller's insider activity during the last 30 days.Name Title Trade Date Shares Purchased Current Ownership Increase In Shares Mark Cosens Director Feb 26 750 750 shares from 0 to 750 Richard Hossack Director Feb 26 750 7,500 shares 11.1% Perry Miele Director Feb 26 750 3,000 shares 33.3% John Petch Director Feb 26 750 5,500 shares 15.8% Randy Powell Director Feb 26 750 3,000 shares 33.3% Brian Short Director Feb 26 750 9,000 shares 9.1%
There have been 4,500 shares purchased by insiders during the last 30 days.
Insider buying by calendar month
Here is a table of Andrew Peller's insider activity by calendar month.Month Insider buying / shares Insider selling / shares February 2014
Complete Story » By Bret Jensen:
Income investors have had to be nimble over the last few years due to the ultra-low interest rate environment courtesy of the Federal Reserve. Many intrepid yield investors have learned to get outside their comfort zones and pick up shares outside the usual dividend paying sectors (Telecom, Pharma, Utilities & Consumer Staples) of the market.
I think this mindset has served and will continue to serve income investors well as the low interest rate environment is likely be in place for the foreseeable future. Putting on my "creative" hat, I have come up with some dividend picks from nontraditional sectors. All selections look attractive on both a yield and value perspective. In addition, their stocks all go for under $10 a share.
I picked up some shares in RF Industries (RFIL) yesterday. The company is a designer and manufacturer of innovative interconnect products and complex cable assemblies across diversified,
Complete Story » By Achilles Research:
A major J.C. Penney (JCP) catalyst is unfolding in today's pre-market trading session: The research guys from Citigroup (C), believe it or not, have upgraded the embattled department store chain to BUY arguing that they believe J.C. Penney has another 30% upside potential based on positive comparable store sales growth (I think J.C. Penney has an intrinsic value of around $18 per share). I have repeatedly argued that J.C. Penney's positive comps outlook will redefine investor perceptions and will cause more optimism for the stock in the future. With a major upgrade coming from a top tier bank, J.C. Penney shares are looking at substantial momentum in today's trading session.
Citigroup's upbeat note with respect to J.C. Penney is reproduced below (alternatively, see the original post at Valuewalk):
Going Back to the Basics: It's Going to Drive the Stock - We're upgrading J.C. Penney Company,
Complete Story » By Don Dion:
Monday, March 17 will mark the end of the 180 day lockup period, following the September 17, 2013 IPO of cloud-based insurance benefits exchange software provider Benefitfocus Inc (BNFT).
At this point shares held by investment and private equity firms will be available for sale. Company executives and directors will also be permitted to sell their shares at the conclusion of the lockup period.
The potential supply shock, resulting from the increased quantity of BNFT shares on the market, will likely cause at least a temporary decline in the price of the shares-and could create a short opportunity for aggressive investors. BNFT's incredible 101% gain in its first day after its IPO has been followed by a generally upward-trending market performance, peaking at $77 per share in mid-January. The stock closed at $65.30 per share on March 10th.
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The March 17 lockup expiration
Complete Story » By Andreas Constantinou:
On February 26, Target (TGT) released the financial results for Q4 2013, a period that included November, December 2013, and January 2014. The key features to note from these results, compared to the exact same period last year, is a decrease of 3.8% in sales and a 46% decrease in net profits.
Those bad results are attributed to various reasons, which include the poor sales performance of the company in its recent expansion in Canada and the winter storms which resulted in reduced shopper traffic during December, as well as store closures. Some even attribute a large portion of the bad results to the rise of online retailers. The one that gets the most credit in the case of Target, however, is the infamous security/data breach that plagued the company in December.
Those topics can be a subject of rigorous analysis and discussion (with plenty of disagreements on
Complete Story » By Marc Chandler:
This Great Graphic was posted on Business Insider by Matthew Boesler. He got it from Nomura, who drew BIS and IMF data. It looks the mix of foreign currency bonds. issued offshore, (red) local currency bonds, issued on shore (gray) and cross-border loans (blue).
Off-shore bonds are not picked up in the country-level balance of payments and capital account figures. The traditional national accounts are more interested in residency of the issuance not the nationality of the issuer. Nomura estimates that since 2010, corporations, based in emerging markets, have issues about $400 bln in offshore debt, or about 40% of its total issuance. The bulk is thought to be denominated in dollars.
The bonds issued abroad potential currency-mismatch and need to be assessed on a company-by-company basis, but a relatively large amount of foreign currency borrowings is potential risk that is often not appreciated when looking at
Complete Story » By David White:
Iron ore prices fell -8.3% on March 10, 2014 to $104.70 per ton on news that Chinese exports for February 2014 had fallen -18.1% year over year. A gain of +6.8% had been expected. This huge miss also caused the Chinese February 2014 Balance of Trade to run a -$22.9B. The US equities markets seemed to shrug this news off. Some again attributed the huge miss to the cold winter weather. However, the experts had known about the cold winter weather when they made their forecast. That weather does not begin to explain the huge drop in exports.
Dr. Copper followed the iron ore prices downward. Its recent peak was $3.4475/oz. on December 24, 2013. On March 10, 2014 it fell to an intraday low of $2.9955/oz. That is close to the low of the June 27, 2013 of $2.9835/oz. That occurred when everyone thought the US
Complete Story » By Shaun Currie, CFA:
Lumber Liquidators (LL) is one of the most contested names in the market today - from concerns over illegal sourcing, to a well-known short thesis around unsustainable margins, to bullish analyst forecasts. After reviewing the company's latest earnings release, I decided to write this article to show investors what metrics I am looking at when it comes to LL's prospects in 2014.
In my mind, it all comes down to one item - gross margins. The company has a plan in place to sell higher priced, higher margin products and increase sales of higher margin accessories. If the company can execute, then the margin improvement ride should continue. But if not, there's downside ahead. Overall, I think there is more downside risk than upside potential when looking at an investment in LL, but I will leave that up to investors to decide for themselves. Let's get
Complete Story » By David Trainer:
Fund holdings affect fund performance more than fees or past performance. A cheap fund is not necessarily a good fund. A fund that has done well in the past is not likely to do well in the future (e.g. 5-star kiss of death and active management has long history of underperformance). Yet, traditional fund research focuses only on low fees and past performance.
Our research on holdings enables investors to find funds with high quality holdings - AND - low fees.
Investors are good at picking cheap funds. We want them to be better at picking funds with good stocks. Both are required to maximize success.
Figure 1 shows that 37% of fund assets are in ETFs and mutual funds with low costs but less than 1% of assets are in ETFs and mutual funds with Attractive holdings. This discrepancy is astounding.
Figure 1: Allocation of Fund
Complete Story » By Equity Flux:
3D Systems (DDD), an additive manufacturing and 3-D printing company, is one of the largest 3-D printing companies in the world. We have been covering this particular stock since November 2013 and are bullish about the future prospects of the industry as a whole and specifically about the overall success of 3D Systems. We based our buy recommendation on several factors mentioned and analyzed in previous pieces. This report is an update on the recent activities of 3D Systems and the implication of these activities, if any, on the future prospects of the company. An FCF based valuation will also be added at the end of the report, incorporating growth in perpetuity, as some investors want to gain perspective on how the price target will turn out to be if growth is incorporated in the FCF calculations.
Note that we did not incorporate growth factor for perpetuity
Complete Story » By Adam Galas:
Recently, I wrote a series of articles detailing why I think that Calumet Specialty Products Partners (CLMT) is a standout in the refining industry and worthy of a long-term investment. The first article explained even if a distribution cut was necessary, it would only be a short-term blip on the way to higher distributions in the future. The second article analyzed the Q4 2013 earnings call to try to predict the actual likelihood of a distribution cut. It concluded that a distribution cut was unlikely unless management decided to continue to acquire other specialty petroleum companies.
Well, on February 28 Calumet announced the acquisition of United Petroleum Company, its second in two months. This article is designed to analyze the two most recent acquisitions and their likely affect on Calumet's current liquidity, 2014 Adjusted EBITDA, Distributable Cash Flow [DCF] and the safety of the distribution.
First let's look
Complete Story » By Peter Geschek:
Pfizer's (PFE) palbociclib is an oral CDK (cyclin-dependent kinase) 4 and 6 inhibitor.
Among post-menopausal women with advanced breast cancer, ER+, HER2- is the largest sub-group, representing approximately 60 percent of all cases. Despite currently available treatments, survival prospects in this category of metastatic breast cancer patients remain poor.
ER+ (estrogen receptor-positive) means that the cancer cells have a receptor protein that binds the hormone estrogen. ER+ cancer cells may need estrogen to grow, and may stop growing or die when treated with substances that block the binding and actions of estrogen.
HER2- (HER2 negative) means that the breast cancer doesn't have high levels of the protein HER2, as opposed to some cancers, where the cells that have a higher-than-normal level of it. High level of HER2 stimulates cancer growth.
In many cancers, a tumor-suppressor protein called retinoblastoma is deactivated due to an increase in the activity of
Complete Story » By Smith On Stocks:
Please read this report very carefully. This is the first time that any systemic drug has been approved under the new (two years old) German hospital exemption early access program and there is more that we don't know about this program than we know.
What Is Hospital Exemption Early Access?
The Paul Ehrlich Institute (PEI) which is the German equivalent of the FDA has just approved a hospital exemption early access program (similar to compassionate use) for DCVax-L to treat all glioma patients. This Hospital Exemption approval was issued under section 4 (B) of the German Medicines Law in which PEI has the authority to provide an exemption from the requirement that a product must complete clinical trials establishing safety and efficacy and then gain regulatory approval before the product can be made available to patients.
DCVax-L can now be provided (it cannot be marketed under this exemption)
Complete Story » ByRichard Zeits:
Latest Well Data
The table below provides well-by-well initial production test results (24-hour tests) for SandRidge (SD) operated Mississippian and Woodford wells in the State of Oklahoma. The data set includes wells that saw first production during the month of January, 2014 and for which operating data is in the public domain as of March 10, 2014. While the table below should capture the vast majority of such wells, the 15-well set is being referred to as "sample."
Among the newly reported results, just one well belongs to the "notable" category:
- The Jet 2610 #1-27H in Alfalfa County tested with 803 barrels of oil and 3.4 MMcf/d of natural gas per day (1,375 Boe/d on a two-stream basis). The test was conducted 25 days after the first production date. The well had an open hole completion with 825,000 pounds of proppant used. The well's location is Section 28, Township
Complete Story » By Michael Filloon:
Bonanza Creek (BCEI) is one of my 2014 stock picks. I made this call on January 1st and since is up 21%. Initially, I thought the stock had 30% upside, but it looks like it may be heading higher. One reason I favor Bonanza is its core acreage is in the DJ Basin. The DJ Basin could be the best place to put your dollars to work in 2014. Also referred to as the Niobrara, it has a significant number of economic intervals, three of which are from that source rock. I believe the market under values this play, especially the northeast extension. It may not be as good as the core Wattenberg, but it is oily and has a quick payback. The combination of low well costs, number of intervals, thick pay zones, and improving well results could provide significant upside. Coupled with reduced costs from pad development,
Complete Story » By Thomas Kee:
Everyone seems to be jumping for joy that the Market looks so good right now, but the Dow Jones Industrial Average (DIA) has increased by barely 3% annually on average since January 1, 2000, coincidentally when I began offering proactive trading strategies online through Stock Traders Daily, and that 3% annual return is hardly anything to be overjoyed about.
In addition, the returns for the S&P 500 (SPY) and NASDAQ (QQQ) are worse since that time. More so, the Dow Jones Industrial Average is also only up 17% since September, 2007, and all of those gains came last year. I understand that the Market looks good recently, but this has all happened before. In fact, there are many similarities, and one of those comes from the smaller investor.
Smaller investors are greedier today than they have been in quite a long time. My business is one that is constantly monitoring
Complete Story » By Investing Insight:
Insteel Industries Inc. (IIIN) is the largest US manufacturer of steel wire reinforcement products for concrete construction applications. The company offers two major product lines: welded wire reinforcements, including Engineered Structural Mesh (ESM) and Standard Welded Wire Reinforcement (SWWR), and Prestressed Concrete Stand (PC Strand).
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Source: IIIN Annual Report 2013
After the purchase of the production assets of Ivy Steel & Wire Company in late 2010, IIIN has emerged out of the recession in a much stronger position and with a greater foothold in the industry to become the largest manufacturer of PC Strand and WWR products. Although still well below the peak level of performance achieved in the years leading up to the financial crisis, IIIN has gradually improved its performance, specifically in the last three years.
Another Reasonable Quarter
In the first quarter of FY 2014, the company reported another increase in performance, although recovery
Complete Story » By Sarita Pereira:
In this article, I will discuss risk factors that could affect the business of major iron ore miners in Brazil, and Australia, followed by the risk exposure and impact. The risk factors are mentioned below:-
1) Production capacity
China consumes two-thirds of the world's sea traded iron ore. The country meets 70% of its iron ore consumption from Brazil, and Australia. BHP Billiton (BHP), Rio Tinto (RIO), Fortescue Metals Group (OTCQX:FSUGY), and Vale (VALE) are expanding production capacity at their existing iron ore project anticipating the rising demand from China.
Production capacity target
290 million tonnes per annum or Mtpa by mid 2014. 360 Mtpa by first half of 2015
450 Mtpa by 2018 from existing 306 Mtpa
Complete Story » ByIAEResearch:
Good dividend picks are typically stable companies operating in the sectors with low growth rates. As a result, the capital gains component of the total return is usually lower than the dividend portion. However, the company we are going to talk about has shown amazing growth in its stock price over the last five years. The Coca-Cola Company's (KO) stock has almost doubled over the last five years - an amazing performance for a stock operating in a maturing industry. The shareholders of the company have enjoyed stellar total return during the last five years. However, in this article, I will be mainly focusing on the dividends, growth in dividends, cash flows and the prospect of future growth in dividends.
Dividends and Cash Flows
Whenever we choose a high yielding stock, the question arises of its dividend sustainability. At the moment, Coca-Cola's dividend yield stands at 2.9%, and the stock
Complete Story » By Dennis Beaudet:
It was early morning 18th June 2007 about 60 kilometres off the coast of Ghana - The waters were eerily calm and the only sound to pierce the crisp morning air was the sound of the rotary table turning on the Belford Dolphin drillship. The roughnecks looked at each other in nervous anticipation. The drill bit had just entered the target depth sandstone reservoir, running in hole with elevated gas readings. All of a sudden the drill pipe began to tremor and the drill manager shouted "more mud!" - The 2 billion barrel Cretaceous aged Jubilee Oil field had been penetrated, which sent shockwaves around the exploration community and opened up a deepwater Upper-Cretaceous Santonian play type which would have implications for exploration companies all along the West African Atlantic Margin plays, including Offshore Morocco, where Shell had just relinquished the year before.
For the exploration team at Kosmos Energy
Complete Story » ByCranky:
In a recent article I reminded readers of the long term ability of Dividend Growth Investing to outperform the broader market such as the S&P 500 (SPY). According to research by Credit Suisse over an extended period the sweet spot for dividend growth was higher yield with a low payout ratio followed by a lower yield and again, low payout ratio. Now certainly quality of the company is a given, and it is the quality of the earnings and the brand and the management and the execution of a strategy that allows the company to continue to increase those dividends.
Here's a chart from that article.
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The low payout ratio is attached to the top two positions, perhaps when searching for total return, that low payout ratio is the one determinants that matters. That makes sense for sure. A high quality company that pays a dividend
Complete Story » By Jake Bergmann:
I am writing this solely to demonstrate high quality trade ideas for my investment firm, Valkyrie Capital. In doing so, I am putting my personal reputation (and that of my firm) on the line. I am not a serial short seller and ONVO had originally been brought to me as a long idea, but after some research, it has become my top short idea for 2014. While I am short, I am not looking to deliberately "short and distort" either: my position is based on detailed research, my own deductions and an expectation that Organovo's share price will decline significantly before December 2014. It's also worth noting I do not post frequently and my last post recommended long positions in Two Harbors (TWO) LEAPs and levered Annaly Capital (NLY) preferred stock on December 16th, which are both up more than 50% and 18% - 25%, respectively.
With that said,
Complete Story » By Krystof Huang:
A. Why to buy gold: the 2013 bearishness for metals during bullishness for stocks strengthened an argument for physical gold--but also weakened any argument for gold mining or silver.
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If you had rebalanced annually between gold and hardcore equity ETFs such as VBK and XRT, the gains on stocks could have paid for either outright losses on gold or for Put premiums--hence you need not have been much affected by the 2013 metalmageddon. Nor do Puts on gold engender any de facto counterparty risk during a stock market rally. In contrast, both non-derivative stocks and their hedging derivatives might have lost -90% of value during 2008 if not for the banking bailouts. Concurrently, both liberals and conservatives are popularly opposed to future banking bailouts--and meanwhile banks are disabling the protective measures of Dodd-Frank
Complete Story » By Wall Street Playbook:
Anyone that still believes "maturity" is an insurmountable obstacle to growth probably would never take an interest in specialty paper company Glatfelter (GLT). Although the paper industry is has become largely commoditized, there's always been something to love with Glatfelter's business. Even more impressive is the stock, which has soared 121% over the past two years. But this company gets virtually no coverage. Thanks to Seeking Alpha, investors will now become familiar with one of the best kept secrets in the entire market.
Investors often complain about how hard it is to find value in today's market - especially given the fact that the indexes are at or near their 52-week highs. Now if you're reading this sort of praise about a Glatfelter you have to understand that Glatfelter's lack of coverage can work to your advantage. New investors love the attention that their stocks receive. Seasoned investors with
Complete Story »
In my last article I had suggested that gold had found a bottom at $1200 and that there was a likelihood that enormous demand for physical gold from China would drive the price higher this year. On the day it was published (January 28), the price of gold was at $1250 (Comex front-month basis). Eleven days later, gold is 3.6% higher at $1295, with most of that move in the last three days. While I was not expecting the long term bull trend to reassert itself this quickly, China returned last Friday from its week-long observance of the Chinese New Year and has continued buying gold at 2013's record-breaking pace. Moreover, it looks like India may shortly ease its restrictions on gold imports. Both factors combined could easily drive the price of gold up to the $2,000 level that I forecasted in my last article.
In my view based
Consumer staples stocks have always been known as stalwart anchors for the majority of dividend equity portfolios. These companies provide essential products and services to consumers that are often thought to be insulated from the threat of a slowing economy. Think diapers, cigarettes, soda, and drugstores if you want to picture a sector that is known for its inelastic demand and built in consumer base.
For those reasons alone, consumer staples have long been known as a defensive sector that investors flock to when the broader market gets volatile. When you combine those qualities with the fact that many of these stocks have above average dividend yields and lower historical price fluctuations, you get a cross section of companies that are a perfect hiding place for conservative investors.
However, this year consumer staples appear to be leading the market lower rather than providing the protection that most investors have
The biggest spender in the U.S. isn't a tech conglomerate, banking empire, or energy consortium - it's the Federal government. National defense is one of the largest expenditures for the US government, which constitutes roughly 20% of the total budget - around $1 trillion in 2013.
The need for reliable information networks and communication arrays is absolutely critical for national defense. Battles are decided on expert reconnaissance and surveillance techniques, and state-of-the-art IT and analytical programs are essential. The possibility of cyberattack has become an imminent threat, producing a greater need for information security than ever before. Money flows in this area of defense are expected to increase throughout 2014 despite cut-backs due to sequestration.
To read more about defense stocks vulnerable to budget cuts click here.
CACI International (CACI) is a $1.7 billion technical service company that provides information solutions for the Department of Defense in addition
The Great Recession changed the spending habits of millions of Americans. A Pew research study from 2010 reveals the scope of its impact. 24% of adults between 18 and 29 moved back in with their parents, alcohol and tobacco consumption dropped 30%, and a staggering 71% of Americans purchased cheaper brand products.
A look at how discount brands have performed in the last 5 years drives home the study's insight. While the S&P 500 recorded triple digit gains, retail giant Wal-Mart (WMT) only gained 50%. On the other hand, Wal-Mart's discount competitor Family Dollar (FDO) has risen over 125% in the same period. Consumers' thrifty habits seem to have stuck.
Since the financial crisis of 2008 decreased consumer confidence has depressed spending, but optimism and spending may be on the rise for 2014. The forecast for December was an increase
Heading into 2014, even perma-bears were growling bullish forecasts. That always makes us nervous; when everyone agrees something is happening in the market, count on the opposite to happen. The U.S. market has rallied back from the late-January lows. The stock market has had a rough opening month and a half, but uncertainty has now displaced bearish conviction. Stocks suffered their worst single-session loss since June 2013 and their best two-day rally since October - all in the same week..
In our view, emerging economies remain the riskiest factor in the equation. As of 2/11/14, stock markets in the BRIC nations were down an average 7.1% year-to-date. Other growth economies are down, including a 5.5% pullback for our significant trading partner Mexico. China's recent trade balance report chased away some of the gloom, though the data may have been distorted by the Chinese New Year.
January selling may have been
SABMiller (OTCPK:SBMRY) held its quarterly divisional seminar on its European business on 11 February 2014. Management tries to put a brave face on the prospects for a business whose profits have come down by 20% over the past five years. We like SABMiller as a company because of the exposure to Asia, Africa and Latin America which adds to over 60% of the company's operating profit. Profits from those regions have doubled over the past five years. Indeed, it is those regions that give the company an attractive growth of 7% annual revenue and 10% annual operating profit growth over the next five years. In my view that is not reflected in the current stock price which trades only in line with the European brewing sector at 16.9x current years earnings.
Below are the key points from the conference:
1) Europe accounts for 17% of group volumes and revenues
Sector rotation is a tried and true investment strategy used by professionals and non-professionals alike. Not only does it keep a portfolio diversified, it can be mapped out and predicted by following the standard business cycle model.
The way stock sectors behave in the market usually aligns pretty well with different phases in the business cycle. The cycle alternates between expansions (growth) and contractions (recessions) that generally last around 45 months and 11 months, respectively. The current bull market has lasted almost 5 years, and many investors are predicting a contraction soon.
Energy, materials, consumer staples and healthcare sectors typically perform well at the end of an expansionary phase, and in recent months all 4 of those sectors have done well, which is a possible signal of the end of a bull market. Economically sensitive sectors like information technology typically don't do well because investors shy away from growth-driven industries
Southern Copper (SCCO) reported an 11% decline in annual revenue in 2013, compared to the previous year. The company generates most (78%) of its revenue from copper sales, making it highly susceptible to low copper prices. The average copper price on the London Metal Exchange (LME) declined from $3.61 per pound in 2012 to $3.32 per pound in 2013. In response to this 8% decline, the company's stock reacted strongly, dropping by almost 27% last year.
However, copper prices could move up this year driven by Chinese demand. China accounts for almost 44% of the world's copper consumption, and the utilities sector makes up more than 40% of the country's copper consumption. A good conductor of electricity, copper is used in generating, transmitting, and distributing power. The State Grid Corporation of China (SGCC), which meets 80% of the country's power
- Intel's official stance is that its next generation 14-nanometer "Broadwell" processor is "on track" to go into production in 1Q 2014
- While this does not confirm/deny the Digitimes rumor that "Broadwell" will launch in 4Q 2014, this refutes the recent SemiWiki piece claiming further "yield problems"
- No word on the current plans for Cherry Trail, the first 14-nanometer Atom
In my recent piece, "Intel: Is This Rumor True?", I had commented on two related, but separate, rumors. They were the following:
- Intel's (INTC) next generation "Broadwell" processor was delayed to a Q4 2014 launch
- Intel is experiencing further "yield problems" beyond what the company had commented on at its Investor Meeting
Shortly following my piece, I spoke with Intel representatives and the following was their official stance on the matter:
We continue to make progress with the industry's first 14nm manufacturing process and
Microsoft (MSFT) may be starting to flex its muscles in mobile even as the Nokia handset purchase is delayed by a tax issue in India. In its history, Microsoft has disrupted many industries and in the process caused pain and suffering for many companies that dared to compete with them. Word Perfect, IBM's OS2 operating system, Netscape, Lotus 1-2-3, and Apple Computer (in the days it was known as Apple Computer) found themselves struggling as Microsoft embraced its typical but quite brilliant strategy, of "collaborate, extend and then eradicate" as I would describe it.
In 1984 Microsoft was collaborating with IBM to develop a new operating system called OS2 when it released an extension to its ubiquitous MS-DOS command line OS which it called Windows. In 1987 Microsoft released its version of OS2 to original equipment manufacturers ("OEM's). Then in 1990 Microsoft released a suite of productivity applications including MS
Increasing Unemployment, Decreasing Commodity Prices Portend Jawboning For The Reserve Bank Of Australia
So much for a trough in unemployment in Australia. The Australian Bureau of Statistics (ABS) produced another poor employment report. In January, Australia lost another 3,700 jobs, and the number of unemployed people increased by 16,600. Moreover, the employment rate edged higher to 6.0%. Unemployment in Australia is now marginally above the post-crisis high and overall at a near 11-year high.
Australian unemployment rate through December, 2013Source: St. Louis Federal Reserve
The Australian dollar (FXA) fell immediately in response to the poor numbers. AUD/USD quickly dropped out of bullish territory (above 0.90), putting me right back in the bearish camp on the currency.
Poor jobs report throws bounce off the bottom into jeopardySource: FreeStockCharts.com
Ctrip.com International, Ltd. (CTRP)
Q4 2013 Earnings Conference Call
February 11, 2013 7:00 p.m. ET
Michelle Qi – IR
James Liang – Co-founder and Chairman
Min Fan – Co-founder and CEO
Jane Sun – COO
Jenny Wu – Chief Strategy Officer
Philip Wan – Morgan Stanley
Dick Wei – Credit Suisse
Alex Yao – JPMorgan
Jiong Shao – Macquarie
Vivian Hao – Deutsche Bank
Fei Fang – Goldman Sachs
Alicia Yap – Barclays Capital
Eddie Leung – Bank of America-Merrill Lynch
Tian Hou – T.H. Capital
Muzhi Li – Citigroup
Wendy Huang – Standard Chartered Bank
Ella Ji – Oppenheimer
Good day, ladies and gentlemen, and welcome to the Q4 and Full Year 2013 Ctrip.com International Limited Earnings Conference Call. My name is Glen [ph] and I will be your coordinator for today.
I would now like to turn the conference over to your
American International Group Inc. (AIG) is set to report FQ4 2013 earnings after the market closes on Thursday, February 13th. AIG is an American multinational insurance corporation that provide property casualty insurance, life insurance and retirement services, and mortgage insurance. Back in 2008, AIG took a record breaking $182.3 billion bailout from the federal government to escape trouble the company got itself into during the subprime mortgage crisis. In December 2012, AIG managed to finish repaying its debt to the U.S. government. This December, AIG announced it has entered into a deal to have its International Lease Finance Corp. acquired by AerCap with AIG, taking a 46% stake in AerCap. This quarter, Wall Street is expecting EPS to be down significantly compared to last year but for revenue to be up 14%. Here's how investors expect AIG to report Thursday.
The information below is derived from data submitted to the
Kraft Foods Group Inc. (KRFT) is set to report FQ4 2013 earnings after the market closes on Thursday, February 13th. Kraft is an American food manufacturing and processing company based outside Chicago. In the past 3 quarters, Kraft has beaten Wall Street expectations on profit each time; however, revenue has been sluggish in 2 of the 3 quarters. This quarter Wall Street is expecting a subdued growth of 3% in revenue and 7% in earnings per share compared to FQ4 last year. While Wall Street's growth estimates for Kraft are modest, this quarter investors have set the bar significantly higher.
The information below is derived from data submitted to the Estimize.com platform by a set of Buy Side and Independent analyst contributors.
The current Wall Street consensus expectation is for KRFT to report 61c EPS and $4.650B revenue while the
Should you add Cisco after shares sold off? I'm definitely considering it.
Cisco (CSCO) is a manufacturer of IP based networking equipment and items for use in information technology and communications. Cisco has traded sideways for the better part of the last year. The company reported earnings Wednesday after-market that did anything but "wow" the street. But, that's okay. Like Intel (INTC), I dig Cisco and I know they can start humming again.
Going into earnings, the bar was set low. On the heels of a recent JP Morgan downgrade, there wasn't much that the street was expecting of CSCO. Trading the last few days telegraphed that, as Cisco was one of the sole laggards on the bullish day of Janet Yellen's testimony in front of congress.
The company reported EPS of $0.47 and revenues of $11.2 billion. The company was expected to report second quarter EPS of $0.37 with
In this article, I will feature one industrial stock that has seen intensive insider selling during the last 30 days. Intensive insider selling can be defined by the following three criteria:
- The stock was sold by three or more insiders within one month.
- The stock was not purchased by any insiders in the month of intensive selling.
- At least two sellers decreased their holdings by more than 10%.
Lockheed Martin Corporation (LMT) engages in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products for defense, civil, and commercial applications in the United States and internationally.
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Insider selling during the last 30 days
Here is a table of Lockheed Martin's insider-trading activity during the last 30 days by insider.Name Title Trade Date Shares Sold Rule 10b5-1 Current Ownership Decrease In Ownership Richard Edwards EVP Feb 7 1,660 No 4,744 shares
by Jeffrey P. Snider
It is exceedingly difficult to interpret the data in any other manner. That is bolstered greatly by reality of the post-taper environment, where issuance has declined dramatically. Yet, it was the talk of taper originally that set that decline in motion, echoing the feedback effects of this "extraordinary" monetary intrusion.
Since Bernanke's QE3 promise back in September 2012, repo volumes and rates have declined precipitously. There is a clear relationship between them, as intrusiveness of QE on collateral streams and chains is direct and heavy.
That feeds backward into collateral availability, as lower rates are a disincentive for collateral silos (pension funds, prime brokers, insurance companies) to lend out securities into the repo markets (less spread available to "earn" on securities lending). The direct connection to QE has been the reduction in available market collateral, as QE itself is a non-market silo, scalping what would
Like many pharmaceutical companies, Eli Lilly (LLY) managed to report stronger-than-expected earnings by the end of January 2014. However, Eli Lilly managed to beat analysts' expectations for the quarter narrowly but the reported performance was way less than its performance last year. Eli Lilly was once known for converting R&D into profits now seems to fail across the board. Loss of patent exclusivity for major drugs followed by failure to replenish the drug pipeline casts doubts on the company's future profitability. In this article, I will delve into the reported performance of the company and glance at the future outlook and the company's ability to realize what it has forecasted for 2014 and ahead.
Top and Bottom Line Performance
The company reported mixed results. The annual results remained positive but patent expiration by the end of 2013 caused the last quarter results to demonstrate negative trend as reflected in the
Federal Realty Investment Trust (FRT)
Q4 2013 Earnings Conference Call
February 12, 2014, 11:00 AM ET
Kristina Lennox - Investor Relations Manager
Donald Wood - President and Chief Executive Officer
Dawn Becker - Executive Vice President and Chief Operating Officer
James Taylor - Executive Vice President, Chief Financial Officer and Treasurer
Jeffrey Berkes - President, West Coast
Christopher Weilminster - Senior Vice President, Leasing
Melissa Solis - Vice President and Chief Accounting Officer
Steve Sakwa - International Strategy & Investment Group
Mike Mueller - JPMorgan
Jeff Donnelly - Wells Fargo Securities
Christy McElroy - UBS Investment Bank
Alexander Goldfarb - Sandler O'Neill
Nathan Isbee - Stifel Nicolaus
Jason White - Green Street Advisors
Craig Schmidt - Bank of America Merrill Lynch
Haendel St. Juste - Morgan Stanley
Tayo Okusanya- Jefferies & Company
Paul Morgan - MLV & Company
Welcome to the Federal Realty's fourth quarter yearend
Buckeye Pipeline Partners L.P. (BPL) reported its results of operations for 4Q 2013 on February 7, 2014. This article focuses on some of the key facts and trends revealed by this report. Given the significant quarterly fluctuations in important business parameters, full year results are also reviewed, in addition to the quarterly numbers.
As part of its report, BPL management announced an exit from one of its business segments and a realignment of others to reflect the integration of the 20 liquid petroleum products terminals (total storage capacity of ~39 million barrels) acquired from Hess Corporation for $850 million in October 2013. BPL now operates and reports in four business segments. Its two major segments are:
- Pipelines & Terminals: this is BPL's largest business unit., transporting refined products principally in the Northeastern and upper Midwestern states on its 6,000-mile pipeline system. It also provides aggregate storage capacity of over