TOP NEWS
MARKET CURRENTS
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6:56 PM Money manager and Fox Business contributor Tobin Smith is dumped by the network following a report his firm accepts money from microcap companies to promote their stocks. Smith and friends just pocketed $50K from a stock endorsement for Petrosonic Energy (PSON.OB), a Bulletin Board company that has no revenues - "taking a bag of cash and luring the dumbest, poorest people into losses," Josh Brown says. 1 Comment
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6:50 PM Alcatel-Lucent (ALU) CEO Michel Combes will use tomorrow's strategy update to unveil plans to cut €1B ($1.34B) worth of costs, and to divest €1B worth of assets over the next 3 years (less than some investors have been hoping), Les Echos reports. Combes will also announce plans to focus on the router and mobile infrastructure markets - the former has been a bright spot for Alcatel thanks to strong edge router sales, and the latter has been faring better lately thanks to growing 4G orders. (earlier) Comment! [Tech]
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6:44 PM More on China Cord Blood (CO): FQ4 easily beats estimates across the board on a 33% jump in total sales. Accumulated subscriber base rose by 30.1% Y/Y. Gross margin also rose to 79.8%, from 76.6%. Shares +3.4% AH. Comment! [Healthcare, Global & FX, Earnings, On the Move]
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6:43 PM Even if the U.S. approves the Keystone pipeline (TRP), analysts say it won't be enough to sop up Canada's oil glut and would only temporarily alleviate the lack of pipeline infrastructure, meaning Canadian crude oil probably will remain the cheapest in the world. But a decision blocking Keystone would make the problem worse, reducing spending on oil sands projects by ~$9.4B during 2014-17. Comment! [Energy]
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6:39 PM Mellanox (MLNX) responds to a shareholder vote forcing CEO Eyal Waldman to give up the role of chairman by naming lead director Irwin Federman its new chairman. Federman is a partner at VC firm U.S. Venture Partners, and also serves on SanDisk and Check Point Software's boards. Also: Mellanox boasts the number of systems on the TOP500 supercomputer list using its FDR InfiniBand hardware has risen 3.3x over the last year, and that 205 of the systems uses InfiniBand. Comment! [Tech]
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6:19 PM Agilent (A) announces and prices a $600M offering of senior notes due July 2023; they carry a yield of 3.875%, and have been rated BBB+ by Fitch. Agilent says it will use the proceeds to pay down debt due next month, as well as for restructuring expenses and buybacks. The test equipment giant had $2.36B in debt as of April 30, and $2.64B in cash/investments. Comment! [Tech]
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6:07 PM Red Hat (RHT +2.1%) rallied ahead of tomorrow's FQ1 report after SA Pro contributor/former hedge fund analyst Josh Burwick offered a bull case, and Piper made cautiously optimistic remarks. Burwick argues fears about the impact of Amazon Web Services on Red Hat are overblown, that slowing billings growth is offset by major growth in unbilled revenue, and that newly-announced OpenStack cloud infrastructure and app platform offerings should fare well. Piper says checks indicate FQ1 billings could be light, but adds Red Hat will make up for it in FQ2, and sees shares bottoming in the $40s. Comment! [Tech, On the Move, Quick Ideas]
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6:03 PM Biodel (BIOD) is trading lower in the post session after announcing a public offering to sell an undisclosed number of shares with a 30-day option on an additional 15% to cover overallotments, if any. Shares -8.2% AH. Comment! [Healthcare, On the Move]
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6:00 PM On the hour: S&P +0.05%. 10-yr flat. Euro +0.01% vs. dollar. Crude +0.19% to $98.82. Gold +0.03% to $1367.45. Comment!
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5:56 PM Vale (VALE) shares advanced today after Brazil's government unveiled a long-awaited bill to reform the country's mining code, proposing new royalties of up to 4%, double the current rate, and a new mine regulatory agency. The new rules were expected, but investors had been holding back on buying shares for fear they might turn out worse. Comment! [Commodities]
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TOP ARTICLES7:06 PM ET TUESDAY JUN 18
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LATEST ARTICLES
- Sears Holdings Valuation: Between Berkshire Hathaway And Bankruptcy by Bishop Research and Analytics • Comment!
- Heico Corp: Class A Shares Offer A Natural Margin Of Safety by Daniel Philip • Comment!
- The Fed And The Facts by Jeroen Blokland • Comment!
- Sarepta And Eteplirsen: Will 12 Patients Be Enough For The FDA? by Cory Renauer • Comment!
- Cedar Fair Poised For A Record Year by Crunching Numbers • Comment!
- I Love Exxon Mobil, But It's Too Expensive Right Now by Jeroen Jongbloed • 1 Comment
- Tough Conditions Burying The Quality Edge At C & J Energy Services by Stephen Simpson • Comment!
- Monarch Casino & Resort: A Micro Cap That Still Has Plenty Of Room To Run by Daniel Philip • 1 Comment
- Oracle Shares Inch Higher Ahead Of Q4 Earnings Despite Cautious IT Spending Environment by Selerity Research • 1 Comment
- U.S. Economic Profile by James Picerno • Comment!
ALPHA-RICH IDEAS
- American Vanguard Should Reap A Better Multiple by Stephen Simpson • 1 Comment
- Vera Bradley: Fashionable Growth At A Great Price by Josh Arnold • Comment!
- ChipMOS: Stock Remains Dirt Cheap, 50%+ Upside By Year End by Valuable Insights • 5 Comments
- Humana: Misunderstood And 35% Undervalued by Mike Williams • 7 Comments
- Cray Still A Strong Buy, Only Cheaper by Vince Martin • 4 Comments
- Jewett-Cameron Trading Company: Cheap And Consistent Buybacks by Robert Majek • 1 Comment
- Taylor Morrison: Fresh Off Its IPO, This Homebuilder Is Flying Under The Radar by Money Investor • 10 Comments
- Citrix: Textbook Definition Of Great Risk/Reward With Catalysts Ahead by Josh Burwick • 7 Comments
- Why I'm Betting Big On Implant Sciences by Inefficient Market • 56 Comments
- Relm Wireless Corp. - Poised To Gain Traction In The Land Mobile Radio Industry by William Garrison • 5 Comments
MACRO VIEW
- The Fed And The Facts by Jeroen Blokland • Comment!
- U.S. Economic Profile by James Picerno • Comment!
- The VIX And The Pre-FOMC And Post-FOMC Trades by Bill Luby • 4 Comments
- Mind Over Yen: The Monetary Psychology Of Reflating Japan's Economy by Dr. Duru • 1 Comment
- Inflation Remains Extremely Low by Cullen Roche • 1 Comment
- Mortgage Valuation Yield Curve And U.S. Treasury Forecast by Donald van Deventer • 2 Comments
DIVIDENDS & INCOME
- Cedar Fair Poised For A Record Year by Crunching Numbers • Comment!
- I Love Exxon Mobil, But It's Too Expensive Right Now by Jeroen Jongbloed • 1 Comment
- Dividend Income Is More Stable Than Capital Gains by Dividend Growth Investor • 1 Comment
- American Residential Properties Is Positioned For Long-Term Growth by Robert Loftus • Comment!
- Has Realty Income Really Bottomed? by Adam Aloisi • 7 Comments
- Duke Energy: Buy And Hold Trumps Short-Term Volatility by Jeff Williams • 2 Comments
ETFs & PORTFOLIO STRATEGY
- Nuveen Has Very Little Exposure To Detroit Muni Meltdown by Holmes_Osborne • Comment!
- Using DXJ To Monitor Developments In Japanese Equities, Currency And Risk by Bill Luby • Comment!
- Tail Risk Parity: The Quest For A Crash-Proof Portfolio by AllianceBernstein • 2 Comments
- Managing Equity Risk: Some Rules For The Road by AllianceBernstein • Comment!
- ETFs For The 'Third Scenario' by Gary Gordon • 1 Comment
- 5 Tax Tips And Tricks In Investing by Richard G. Pearce • 15 Comments
INVESTING IDEAS
- Sears Holdings Valuation: Between Berkshire Hathaway And Bankruptcy by Bishop Research and Analytics • Comment!
- Heico Corp: Class A Shares Offer A Natural Margin Of Safety by Daniel Philip • Comment!
- Monarch Casino & Resort: A Micro Cap That Still Has Plenty Of Room To Run by Daniel Philip • 1 Comment
- Zoetis Exchange Offer Update by Pine Research & Trading • Comment!
- Yongye International: Growing At 25% Per Year, Selling At Below Cash by Charles Zhang • 1 Comment
- Marketo: Time To Buy? by Investometrica • Comment!