Today's dead-cat bounce in the mining sector looks like a reaction to the overwhelming bearishness, expressed in the options market yesterday by heavy buying of GDX puts. Volume in the gold miners ETF (GDX +4.8%) is only about average so far, indicating mere short-covering and no stampede back into gold stocks, Randall Forsyth writes. ABX +7.6%, GG +4.5%, NEM +4%. [View news story]
Spark Networks (LOV) jumped 4.4% yesterday as Whitney Tilson - looking for the next Netflix (NFLX) - thinks he's found it with the owner of JDate and ChristianMingle. Subscription-based, low price and high perceived value, dominating a niche, asset-light and scalable - what's not to like? Tilson's been an owner (through former partner Glenn Tongue) for 3 years and recently tripled his postion to 1.9% of the company. [View news story]
Great investment idea. I think he'll make a lot of money with this one.
Think twice before investing alongside the big names set to speak at tomorrow's Ira Sohn conference. Following the top tips of last year's speakers would have produced a gain of 19%, less than the 22% profit from investing in a passive index fund, according to an FT analysis. [View news story]
I am very, very short the Yen using several different mechanics to express a bearish view. More here:
Think twice before investing alongside the big names set to speak at tomorrow's Ira Sohn conference. Following the top tips of last year's speakers would have produced a gain of 19%, less than the 22% profit from investing in a passive index fund, according to an FT analysis. [View news story]
Gramercy Property Trust (GPT): Q1 adjusted FFO of $0.12/share misses by $0.12. (PR) [View news story]
There is no coverage yet, but there are several sell side analysts who are on calls, asking questions, and likely to pick up coverage in future quarters.
More on Gramercy Property Trust (GPT) Q1 earnings: Unrestricted cash of $100.5M vs. $105.4M on Dec. 31. Management and G&A expenses of $4.4M vs. $5.1M a year ago. Asset management unit revenue of $8.3M, flat Y/Y. Company booked a $1.2M loss on BofA joint venture; expects to earn $1M/year in management fees, and chance of higher based on performance. Shares +4.5% premarket. CC at 2 ET. (PR) [View news story]
It is good to see their expenses continue to decline as they transform this company.
It's official: BMC Software (BMC) is selling itself to Bain Capital and Golden Gate Capital for $46.25/share in cash after several months of talks with various P-E firms; the price represents a 2% premium to Friday's close. Activist investor Elliott Associates, which owns 9.6% of BMC, is backing the deal. BMC has been given a 30-day go-shop period during which it can "solicit alternative proposals." (PR) (yesterday) [View news story]
Excellent deal. This has been a significant position of ours, so nice to see it working out so well.
Shell (RDS.A) may have taken the lead - at least in the rumor mill - as the bidder most likely to succeed in winning a share of InterOil’s (IOC) LNG project in Papua New Guinea, Platts reports. Shell’s perceived advantage over Exxon (XOM) and Total (TOT) centers on its existing relationship with the PNG government, strengthened by its ownership of emerging floating LNG technology. [View news story]
Heads, I Win; Tails, I Don't Lose Much With OUTD [View instapost]
Today's dead-cat bounce in the mining sector looks like a reaction to the overwhelming bearishness, expressed in the options market yesterday by heavy buying of GDX puts. Volume in the gold miners ETF (GDX +4.8%) is only about average so far, indicating mere short-covering and no stampede back into gold stocks, Randall Forsyth writes. ABX +7.6%, GG +4.5%, NEM +4%. [View news story]
SandRidge Energy's CEO Discusses Q1 2013 Results - Earnings Call Transcript [View article]
Spark Networks (LOV) jumped 4.4% yesterday as Whitney Tilson - looking for the next Netflix (NFLX) - thinks he's found it with the owner of JDate and ChristianMingle. Subscription-based, low price and high perceived value, dominating a niche, asset-light and scalable - what's not to like? Tilson's been an owner (through former partner Glenn Tongue) for 3 years and recently tripled his postion to 1.9% of the company. [View news story]
Think twice before investing alongside the big names set to speak at tomorrow's Ira Sohn conference. Following the top tips of last year's speakers would have produced a gain of 19%, less than the 22% profit from investing in a passive index fund, according to an FT analysis. [View news story]
http://seekingalpha.co...
Think twice before investing alongside the big names set to speak at tomorrow's Ira Sohn conference. Following the top tips of last year's speakers would have produced a gain of 19%, less than the 22% profit from investing in a passive index fund, according to an FT analysis. [View news story]
Gramercy Property Trust (GPT): Q1 adjusted FFO of $0.12/share misses by $0.12. (PR) [View news story]
More on Gramercy Property Trust (GPT) Q1 earnings: Unrestricted cash of $100.5M vs. $105.4M on Dec. 31. Management and G&A expenses of $4.4M vs. $5.1M a year ago. Asset management unit revenue of $8.3M, flat Y/Y. Company booked a $1.2M loss on BofA joint venture; expects to earn $1M/year in management fees, and chance of higher based on performance. Shares +4.5% premarket. CC at 2 ET. (PR) [View news story]
Event Driven Q&A Forum [View instapost]
Gramercy Property Trust (GPT): Q1 adjusted FFO of $0.12/share misses by $0.12. (PR) [View news story]
Event Driven Q&A Forum [View instapost]
It's official: BMC Software (BMC) is selling itself to Bain Capital and Golden Gate Capital for $46.25/share in cash after several months of talks with various P-E firms; the price represents a 2% premium to Friday's close. Activist investor Elliott Associates, which owns 9.6% of BMC, is backing the deal. BMC has been given a 30-day go-shop period during which it can "solicit alternative proposals." (PR) (yesterday) [View news story]
Shell (RDS.A) may have taken the lead - at least in the rumor mill - as the bidder most likely to succeed in winning a share of InterOil’s (IOC) LNG project in Papua New Guinea, Platts reports. Shell’s perceived advantage over Exxon (XOM) and Total (TOT) centers on its existing relationship with the PNG government, strengthened by its ownership of emerging floating LNG technology. [View news story]
Berkshire Hathaway (class A) (BRK.A): Q1 operating earnings of $2,302/share (class A), vs. estimates of $1,995.34. Operating earnings breakdown: Insurance underwriting of $901M; Insurance investment income of $799M; non-insurance businesses, $2.245B; other, -$163M. (10-Q) [View news story]
Berkshire Hathaway (class A) (BRK.A): Q1 operating earnings of $2,302/share (class A), vs. estimates of $1,995.34. Operating earnings breakdown: Insurance underwriting of $901M; Insurance investment income of $799M; non-insurance businesses, $2.245B; other, -$163M. (10-Q) [View news story]