TOP NEWS
MARKET CURRENTS
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1:09 PM Sparton (SPA +2.2%) gains today after saying that it and USSI, a subsidiary of Ultra Electronics Holdings, have won $8.8M in joint foreign sales contracts for the manufacture of multiple Passive and Active Sonobuoys to the South Korean Government. Production will be done from their ERAPSCO/SonobuoyTech Systems joint venture, and should be completed by March, 2014. Comment! [On the Move, Global & FX]
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1:08 PM Insmed (INSM +16.9%), which is now up a cool 74.5% since April 23, gets its price target hiked to $22 from $13 at Leerink Swann and $17 from $12 at Canaccord. Leerink cites the now all-too-familiar Arikace Phase 3 data catalyst and notes that "…after speaking with multiple MEDACorp KOLs and performing an extensive review of applicable literature, we have developed more conviction that Arikace is poised to be become a first-in-line treatment for non-tuberculous mycobacteria infections, [which may] present an even more compelling market opportunity than cystic fibrosis." Comment! [Healthcare, On the Move]
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1:07 PM Luxury retail shakeup: KKR is reportedly considering taking a stake in Saks (SKS +16.8%) and pushing the retailer to merge with Neiman Marcus. Comment! [Consumer]
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1:03 PM The Xbox One is far from the future of television unless cable providers (CVC, CMCSA, CHTR, TWC) can work with Microsoft to create a superior video product that captures market share from satellite players (DISH, DTV), according to BTIG's Rich Greenfield. Under the status quo, the Xbox One only offers a clunky way to control the TVs and DVRS of consumers without a complex home configuration. Greenfield says an edge exists for the cable industry, as long as it works quick before the Apple Television launch or an improved Google TV product is debuted. Comment! [Tech, Consumer]
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1:01 PM Lancaster Colony Corporation (LANC) declares $0.40/share quarterly dividend, 5.26% increase from prior dividend of $0.38. Forward yield 1.91%. For shareholders of record June 10. Payable June 28. Ex-div date June 6. (PR) Comment! [Dividends]
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1:00 PM On the hour: Dow +0.64%. 10-yr -0.57%. Euro -0.28% vs. dollar. Crude -1.34% to $94.89. Gold -0.32% to $1373.25. Comment!
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12:55 PM Pioneer Natural Resources (PXD +5.4%) surges after at least two firms - UBS and RBC - raise their price targets after encouraging results from PXD's first horizontal Wolfcamp shale well. The 24-hour initial production rate of 1,572 boe/day is considered very solid and comparable to the Hutt well in its northern acreage, which yielded an initial rate of 1,693 boe/day. Comment! [Energy, On the Move]
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12:52 PM Midday top 10 gainers: CLNT +125%. MBND +24%. ZLC +24%. RCON +22%. MNKD +15%. NOA +15%. INSM +15%. SGOC +19%. CETV +14%. SKS +14%.
Midday top 10 Losers: STP -17%. LDK -14%. SWI -12%. MLP -11%. FXEN -12%. LAKE -10%. BALT -10%. DQ -10%. CSUN -9%. AMAG -9%. Comment! [On the Move]
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12:52 PM Netflix (NFLX -1.2%) CCO Ted Sarandos says "Phase 2" of the company's slate of original programming could be double in size and tip toward "wildly" diverse audiences. He thinks Netflix will stay away from the development business, but will continue a hybrid approach to content licensing. He also sees binge viewing changing the way series are written due to the reduced need to rely on recaps and cliff-hangers Comment! [Consumer]
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12:51 PM Avoid names with hefty PC, server, or printer exposure, says Goldman, lowering its 2013 PC shipment forecast to -6.8% from -3.8% and - pointing at DELL's earnings - warning pockets of price aggression at OEMs could spread. Making the list are sell-rated: HPQ, LXK, and QLGC. H-P reports after the bell. Comment! [Tech]
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LATEST ARTICLES
- Sector-Specific Asset Bubbles by Stock Traders Daily • Comment!
- Look Forward, Not Backward, With Dividend ETFs by Benzinga • Comment!
- Equities Can Rise Another 5%-10% On Bernanke's Comments by Economics Fanatic • Comment!
- Why Momenta Offers A Unique Opportunity In The Pharmaceutical Industry by Jon Crowley • Comment!
- Japanese Equities Too Strong To Ignore by Andrew_Keene • 2 Comments
- The Sequester, Ending QE And India - More Smoke Than Fire by AlphaVN Research • Comment!
- 3 Selected 'Strong Buys' From S&P by Bret Jensen • Comment!
- Non-Core Asset Sell-Off: How Banks Like Citigroup Are Restructuring Themselves by StockRiters • 1 Comment
- Can Annaly Capital Management's 12.2% Dividend Be Sustained? by Ron Hiram • 3 Comments
- Solar Flares Or Preview For The Bears? by Small Cap Reporter • Comment!
ALPHA-RICH IDEAS
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- A Sustainable And Growing 8% Yield Is Driving NorthStar Realty Finance's Outperformance by Dane Bowler • 17 Comments
- Ryland: 2 Major Reasons Why This Homebuilder Is At Least 30% Overvalued by Money Investor • 4 Comments
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MACRO VIEW
- Sector-Specific Asset Bubbles by Stock Traders Daily • Comment!
- Equities Can Rise Another 5%-10% On Bernanke's Comments by Economics Fanatic • Comment!
- Japanese Equities Too Strong To Ignore by Andrew_Keene • 2 Comments
- The Sequester, Ending QE And India - More Smoke Than Fire by AlphaVN Research • Comment!
- Are Equity Investors Pushing The Gas Pedal Too Hard? by Franklin Templeton Investments • 4 Comments
- Investors Versus Traders: A Battle For Oil And Gas Profits by The Energy Report • Comment!
DIVIDENDS & INCOME
- Can Annaly Capital Management's 12.2% Dividend Be Sustained? by Ron Hiram • 3 Comments
- Are We In A REIT Bubble? by Dividend Growth Investor • 2 Comments
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- BDC Risk Profiles: Part 1 by BDC Buzz • 11 Comments
- Exxon Mobil: 4 Reasons To DRIP This Company by Tim McAleenan Jr. • 9 Comments
- Apple Share Buyback - The Numbers Talk by J. M. Manness • 14 Comments
ETFs & PORTFOLIO STRATEGY
- How To Diversify Your Income Streams With Tech Stocks by David Fabian • 2 Comments
- Does Behavioral Investing Make Sense Anymore? by AllianceBernstein • Comment!
- Protecting Your Portfolio With Implied Volatility by AlphaVN Research • 3 Comments
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- A New Market Beating Dividend Fund by Ploutos • 6 Comments
- Asset Allocation And Rebalancing Review: May 22, 2013 by James Picerno • Comment!
INVESTING IDEAS
- Why Momenta Offers A Unique Opportunity In The Pharmaceutical Industry by Jon Crowley • Comment!
- Non-Core Asset Sell-Off: How Banks Like Citigroup Are Restructuring Themselves by StockRiters • 1 Comment
- Why I'm Bearish On Netflix Each Time It Crosses $200 by Saurabh Tandon • 6 Comments
- Barry Rosenstein's JANA Partners' Top Picks by Insider Monkey • Comment!
- IPO Preview: Global Brass And Copper Holdings by IPOdesktop • Comment!
- Revisiting Small Cap Investing With InvenSense by Faisal Mohamed • Comment!