SeekingAlpha.com: SA Currents http://seekingalpha.com/currents/all SA Currents RSS Syndication from SeekingAlpha.com SeekingAlpha.com <![CDATA["There are only four sources of high-quality maps," Google, Waze, Navteq, and TomTom (TMOAF.PK), says Rolfe Winkler, and given Facebook's rumored $1B acquisition of Waze, TomTom may become an attractive takeover target for the likes of Apple (AAPL) and others who, while able to drive a hard bargain on map licensing fees, may prefer to bid for the Netherlands-based company rather than worry that a rival will acquire it. TomTom trades at an EV/EBITDA ratio of just 6x. (From December: Rabobank puts AAPL/TomTom odds at 30%)]]> http://seekingalpha.com/currents/post/1033991?source=feed 1033991 4 comments!]]> Sat, 18 May 2013 11:57:22 -0400 SeekingAlpha TMOAF.PK), says Rolfe Winkler, and given Facebook's rumored $1B acquisition of Waze, TomTom may become an attractive takeover target for the likes of Apple (AAPL) and others who, while able to drive a hard bargain on map licensing fees, may prefer to bid for the Netherlands-based company rather than worry that a rival will acquire it. TomTom trades at an EV/EBITDA ratio of just 6x. (From December: Rabobank puts AAPL/TomTom odds at 30%) 4 comments!]]> <![CDATA[With Turkish stocks and, by extension, the Turkey ETF (TUR), trading just a shade below all time highs, it's worth looking at the country's fundamentals in the wake of Moody's investment grade blessing (I, II). From WSJ: Debt-to-GDP is just 36% (down 10% in the past three years alone), 2012's budget deficit was a comparatively meager 1.4%, and the country's reliance on foreign currency debt is limited to just 27%. Like the Philippines however, authorities are concerned about the potential for inflows of "hot money": "Investment grade can lead to excessive build up of risk and we may have to look into that," Finance Minister Mehmet Simsek says.]]> http://seekingalpha.com/currents/post/1033981?source=feed 1033981 Post your comment!]]> Sat, 18 May 2013 11:33:43 -0400 SeekingAlpha TUR), trading just a shade below all time highs, it's worth looking at the country's fundamentals in the wake of Moody's investment grade blessing (I, II). From WSJ: Debt-to-GDP is just 36% (down 10% in the past three years alone), 2012's budget deficit was a comparatively meager 1.4%, and the country's reliance on foreign currency debt is limited to just 27%. Like the Philippines however, authorities are concerned about the potential for inflows of "hot money": "Investment grade can lead to excessive build up of risk and we may have to look into that," Finance Minister Mehmet Simsek says. Post your comment!]]> <![CDATA[Nonperforming loans (as a percentage of total loans) are growing in the eurozone periphery by a disconcerting 2.5% per year, JPMorgan says, adding that the problem appears endemic outside the eurozone core as NPLs are 25%, 19%, 13.4%, and 10% in Greece, Ireland, Italy, and Portugal respectively. This raises questions about the impairment capacity of banks and what steps will ultimately be taken to provision against these underperformers. (Also: Spain's banks to reclassify refies, Slovenia NPLs contribute to downgrade, need to be transferred)]]> http://seekingalpha.com/currents/post/1033971?source=feed 1033971 2 comments!]]> Sat, 18 May 2013 09:30:29 -0400 SeekingAlpha growing in the eurozone periphery by a disconcerting 2.5% per year, JPMorgan says, adding that the problem appears endemic outside the eurozone core as NPLs are 25%, 19%, 13.4%, and 10% in Greece, Ireland, Italy, and Portugal respectively. This raises questions about the impairment capacity of banks and what steps will ultimately be taken to provision against these underperformers. (Also: Spain's banks to reclassify refies, Slovenia NPLs contribute to downgrade, need to be transferred) 2 comments!]]> <![CDATA[Leon Cooperman and partner Steve Einhorn keep it simple: Stocks (VTI) are cheap relative to interest rates and inflation. The guy who bought T-bills (SHY) has migrated to T-bonds (TLT), the guy who bought T-bonds has moved to investment grade corporates (LQD), the guy who bought IG is now in high-yield ([[HYG]], [[JNK]]), and so on (glasses clink in the FOMC board room). Their largest position is Sprint Nextel (S) - as fans of Masayoshi Son and long-time owners of [[DISH]], the duo like seeing two industry titans both wanting the same asset. New Citigroup (C) management should be able to double ROE over the next 2-3 years, and Transocean (RIG) sells for a significant discount to asset value.]]> http://seekingalpha.com/currents/post/1033941?source=feed 1033941 3 comments!]]> Sat, 18 May 2013 09:15:37 -0400 SeekingAlpha VTI) are cheap relative to interest rates and inflation. The guy who bought T-bills (SHY) has migrated to T-bonds (TLT), the guy who bought T-bonds has moved to investment grade corporates (LQD), the guy who bought IG is now in high-yield (HYG, JNK), and so on (glasses clink in the FOMC board room). Their largest position is Sprint Nextel (S) - as fans of Masayoshi Son and long-time owners of DISH, the duo like seeing two industry titans both wanting the same asset. New Citigroup (C) management should be able to double ROE over the next 2-3 years, and Transocean (RIG) sells for a significant discount to asset value. 3 comments!]]> <![CDATA[Newly public ING U.S. (VOYA) is up 20% since its IPO 2 weeks ago, but only trades at 60% of book value compared to the average life insurer ([[MET]], [[HIG]], [[PRU]]) selling for near book, writes Andrew Bary. Not only that, but the company is misunderstood - it's more retirement-services specialist (think [[PFG]]) and asset manager than life insurer, and should command an even higher valuation. What's more the seller ([[ING]]) was forced by regulators to do so against its will, the ING CEO calling it a "significant destruction of capital." Spinoff & Reorg Profiles - rarely a fan of promoted IPOs - think's it's worth $31. With an easily digestible $6B market cap, it might be worth even more to an acquirer.]]> http://seekingalpha.com/currents/post/1033931?source=feed 1033931 Post your comment!]]> Sat, 18 May 2013 08:45:10 -0400 SeekingAlpha VOYA) is up 20% since its IPO 2 weeks ago, but only trades at 60% of book value compared to the average life insurer (MET, HIG, PRU) selling for near book, writes Andrew Bary. Not only that, but the company is misunderstood - it's more retirement-services specialist (think PFG) and asset manager than life insurer, and should command an even higher valuation. What's more the seller (ING) was forced by regulators to do so against its will, the ING CEO calling it a "significant destruction of capital." Spinoff & Reorg Profiles - rarely a fan of promoted IPOs - think's it's worth $31. With an easily digestible $6B market cap, it might be worth even more to an acquirer. Post your comment!]]> <![CDATA[European Economic Commissioner Olli Rehn is tired of being labeled "as an unworthy person who is almost eating children," a rather fantastical characterization he says is improperly applied to anyone pushing the austerity agenda. In reality, Rehn is agnostic when it comes to economic policy and says he finds much to like in Keynes. Now that the crisis has dissipated (at least in terms of periphery yield spreads) Rehn says there is more "room to maneuver" and countries can pursue budget cuts "at a slower pace."]]> http://seekingalpha.com/currents/post/1033961?source=feed 1033961 Post your comment!]]> Sat, 18 May 2013 08:40:51 -0400 SeekingAlpha can pursue budget cuts "at a slower pace." Post your comment!]]> <![CDATA[Refining Canada’s oil sands produces petroleum coke, called "the dirtiest residue from the dirtiest oil on earth." It's piling up along the Detroit River, NYT reports, thanks to a Marathon Petroleum refinery that began refining Canadian oil sands in November. Detroit’s pile will not be the only one. Canada’s efforts to sell more products from oil sands to the U.S., which include transporting it through the proposed Keystone pipeline, are pulling more coking south to U.S. refineries, creating more waste product.]]> http://seekingalpha.com/currents/post/1033921?source=feed 1033921 10 comments!]]> Sat, 18 May 2013 08:25:00 -0400 SeekingAlpha the dirtiest residue from the dirtiest oil on earth." It's piling up along the Detroit River, NYT reports, thanks to a Marathon Petroleum refinery that began refining Canadian oil sands in November. Detroit’s pile will not be the only one. Canada’s efforts to sell more products from oil sands to the U.S., which include transporting it through the proposed Keystone pipeline, are pulling more coking south to U.S. refineries, creating more waste product. 10 comments!]]> <![CDATA[Saturday humor: A mile long asteroid set to pass within 3.6M miles of earth on May 31 has a rather ominous official name: QE2.]]> http://seekingalpha.com/currents/post/1033951?source=feed 1033951 2 comments!]]> Sat, 18 May 2013 08:17:00 -0400 SeekingAlpha set to pass within 3.6M miles of earth on May 31 has a rather ominous official name: QE2. 2 comments!]]> <![CDATA[Of the ;208.2B in non-performing loans Spanish banks have refinanced (in order to avoid recognizing them as NPLs), nearly half are treated as though they are not distressed, dubiously eliminating the need to take provisions against them, FT says. These banks have until September to reclassify restructured loans under tougher guidelines, a mandate that will likely necessitate fresh provisioning at some institutions. Between them, Santander (SAN), [[BBVA]], and Caixabank (CAIXY.PK) had ;76B in refinanced debt on their books at the end of last year.]]> http://seekingalpha.com/currents/post/1033911?source=feed 1033911 8 comments!]]> Fri, 17 May 2013 21:35:12 -0400 SeekingAlpha FT says. These banks have until September to reclassify restructured loans under tougher guidelines, a mandate that will likely necessitate fresh provisioning at some institutions. Between them, Santander (SAN), BBVA, and Caixabank (CAIXY.PK) had €76B in refinanced debt on their books at the end of last year. 8 comments!]]> <![CDATA[The European investigation (I, II) into oil benchmark pricing raises rarely voiced questions about the appropriate way to set prices. FT notes that Platts' reporters cover 400+ wholesale energy prices everyday and the information available to them is limited to what commodities houses and Big Oil are willing to disclose. The process is complicated by the fact that myriad factors ranging from small discrepancies in quality to the type of hull on transport tankers, make the process inherently subjective. Nevertheless, the ordeal looks quite a bit like the Libor and ISDAFIX probes: a benchmark to which trillions of dollars of assets are tied is determined by key players away from the public eye.]]> http://seekingalpha.com/currents/post/1033901?source=feed 1033901 Post your comment!]]> Fri, 17 May 2013 21:17:02 -0400 SeekingAlpha I, II) into oil benchmark pricing raises rarely voiced questions about the appropriate way to set prices. FT notes that Platts' reporters cover 400+ wholesale energy prices everyday and the information available to them is limited to what commodities houses and Big Oil are willing to disclose. The process is complicated by the fact that myriad factors ranging from small discrepancies in quality to the type of hull on transport tankers, make the process inherently subjective. Nevertheless, the ordeal looks quite a bit like the Libor and ISDAFIX probes: a benchmark to which trillions of dollars of assets are tied is determined by key players away from the public eye. Post your comment!]]> <![CDATA[If they "want to succeed in Vietnam, they have to change the way they serve," one customer says of Starbucks' (SBUX) brewing methods at its Ho Chi Minh City flagship store. Of all the markets into which the Seattle coffee giant has ventured, Vietnam may prove the most challenging given the country's rich coffee culture which dates back at least a century. Predictably however, business is good, and Howard Schultz says sales are already exceeding expectations despite locals' penchant for what WSJ describes as a "thick, oily" domestic brew. (Also: SBUX goes to Myanmar)]]> http://seekingalpha.com/currents/post/1033891?source=feed 1033891 4 comments!]]> Fri, 17 May 2013 20:42:27 -0400 SeekingAlpha succeed in Vietnam, they have to change the way they serve," one customer says of Starbucks' (SBUX) brewing methods at its Ho Chi Minh City flagship store. Of all the markets into which the Seattle coffee giant has ventured, Vietnam may prove the most challenging given the country's rich coffee culture which dates back at least a century. Predictably however, business is good, and Howard Schultz says sales are already exceeding expectations despite locals' penchant for what WSJ describes as a "thick, oily" domestic brew. (Also: SBUX goes to Myanmar) 4 comments!]]> <![CDATA[Yahoo (YHOO) update: The board will meet Sunday night to decide on a $1.1B all-cash deal for Tumblr, according to AllThingsD. (earlier)]]> http://seekingalpha.com/currents/post/1033881?source=feed 1033881 1 comment!]]> Fri, 17 May 2013 20:08:25 -0400 SeekingAlpha YHOO) update: The board will meet Sunday night to decide on a $1.1B all-cash deal for Tumblr, according to AllThingsD. (earlier) 1 comment!]]> <![CDATA[Yahoo's (YHOO) NYC event will be focused on Flickr updates rather than Tumblr, Bloomberg reports. This, of course, doesn't preclude a Tumblr deal from being announced at some other time. Marissa Mayer reportedly doubled the size of long-neglected Flickr's engineering team last summer, and new Flickr apps have launched to positive reviews. However, Flickr's online photo market share is now well below that of Facebook/Instagram.]]> http://seekingalpha.com/currents/post/1033871?source=feed 1033871 2 comments!]]> Fri, 17 May 2013 19:18:55 -0400 SeekingAlpha YHOO) NYC event will be focused on Flickr updates rather than Tumblr, Bloomberg reports. This, of course, doesn't preclude a Tumblr deal from being announced at some other time. Marissa Mayer reportedly doubled the size of long-neglected Flickr's engineering team last summer, and new Flickr apps have launched to positive reviews. However, Flickr's online photo market share is now well below that of Facebook/Instagram. 2 comments!]]> <![CDATA[Shares of General Motors ([[GM]] +3.1%) eclipsed their $33 IPO price as investors speculate that the U.S. government may soon exit its ownership stake in the auto maker. The auto maker rose to $33.42 to close above its November 2010 IPO price for the first time since February 2011. U.S. taxpayers currently hold a 16.4% stake, or 241.7M shares worth about $8.08B.]]> http://seekingalpha.com/currents/post/1033861?source=feed 1033861 4 comments!]]> Fri, 17 May 2013 19:18:48 -0400 SeekingAlpha GM +3.1%) eclipsed their $33 IPO price as investors speculate that the U.S. government may soon exit its ownership stake in the auto maker. The auto maker rose to $33.42 to close above its November 2010 IPO price for the first time since February 2011. U.S. taxpayers currently hold a 16.4% stake, or 241.7M shares worth about $8.08B. 4 comments!]]> <![CDATA[UniPixel ([[UNXL]] -26%) crashed today in the absence of major news. Williams Financial's Cody Acree, who rates shares a Buy: "There were a lot of speculative things today, a lot of which probably got blown out of proportion." Among other things, Acree notes a recent Apple patent application for a large-display touch sensor panel (not a competitive threat), and the fact a 13G filed by Goldberg Capital notes the firm's stake in UniPixel has fallen to 5.25% (Acree says this is only due to dilution from the stock offering). Shares still +99% YTD.]]> http://seekingalpha.com/currents/post/1033851?source=feed 1033851 17 comments!]]> Fri, 17 May 2013 18:50:44 -0400 SeekingAlpha UNXL -26%) crashed today in the absence of major news. Williams Financial's Cody Acree, who rates shares a Buy: "There were a lot of speculative things today, a lot of which probably got blown out of proportion." Among other things, Acree notes a recent Apple patent application for a large-display touch sensor panel (not a competitive threat), and the fact a 13G filed by Goldberg Capital notes the firm's stake in UniPixel has fallen to 5.25% (Acree says this is only due to dilution from the stock offering). Shares still +99% YTD. 17 comments!]]> <![CDATA[If we keep moving up like this, stocks could go "parabolic," says Art Cashin. The stocks that have the heaviest short positions have already raced ahead of the indices, and they are going to crumble if we keep going. (Video).]]> http://seekingalpha.com/currents/post/1033841?source=feed 1033841 4 comments!]]> Fri, 17 May 2013 18:44:06 -0400 SeekingAlpha heaviest short positions have already raced ahead of the indices, and they are going to crumble if we keep going. (Video). 4 comments!]]> <![CDATA[SolarCity's ([[SCTY]] +25.7%) big rally is "bubble-like," cautions Raymond James' Pavel Molchanov, who tried to temper enthusiasm about First Solar last month. Molchanov warns a June 11 lockup expiration could "open the floodgates." Credit Suisse also cited the lockup when downgrading shares on Tuesday; the firm estimates the lockup will increase SolarCity's tradable float by 8x-10x. (earlier)]]> http://seekingalpha.com/currents/post/1033831?source=feed 1033831 1 comment!]]> Fri, 17 May 2013 18:35:29 -0400 SeekingAlpha SCTY +25.7%) big rally is "bubble-like," cautions Raymond James' Pavel Molchanov, who tried to temper enthusiasm about First Solar last month. Molchanov warns a June 11 lockup expiration could "open the floodgates." Credit Suisse also cited the lockup when downgrading shares on Tuesday; the firm estimates the lockup will increase SolarCity's tradable float by 8x-10x. (earlier) 1 comment!]]> <![CDATA[[[AOL]] is reportedly laying off ~3% of Patch's 1,400-strong staff and (per a company memo) is giving the oft-criticized local news unit a new CEO. Patch COO Steve Kalin is the division's new chief; current CEO Jon Brod will return to AOL Ventures. AOL asserts the changes are aimed at improving content quality/engagement and allowing Patch to make good on promises it will be profitable by year's end. comScore estimates Patch, bogged by questions over how well a business focused on "hyper-local" content can scale, saw traffic rise 26% Y/Y in April to 13M monthly uniques.]]> http://seekingalpha.com/currents/post/1033821?source=feed 1033821 1 comment!]]> Fri, 17 May 2013 18:28:16 -0400 SeekingAlpha AOL is reportedly laying off ~3% of Patch's 1,400-strong staff and (per a company memo) is giving the oft-criticized local news unit a new CEO. Patch COO Steve Kalin is the division's new chief; current CEO Jon Brod will return to AOL Ventures. AOL asserts the changes are aimed at improving content quality/engagement and allowing Patch to make good on promises it will be profitable by year's end. comScore estimates Patch, bogged by questions over how well a business focused on "hyper-local" content can scale, saw traffic rise 26% Y/Y in April to 13M monthly uniques. 1 comment!]]> <![CDATA[Caterpillar's (CAT) deal to cut the purchase price of a Chinese mining equipment maker it bought last year ends an embarrassing episode, but now comes the hard part: penetrating China's huge underground mining market. The dispute overshadowed the real importance of giving CAT the product line and distribution it desperately wants in China, the world's top producer and consumer of coal.]]> http://seekingalpha.com/currents/post/1033811?source=feed 1033811 Post your comment!]]> Fri, 17 May 2013 18:15:22 -0400 SeekingAlpha CAT) deal to cut the purchase price of a Chinese mining equipment maker it bought last year ends an embarrassing episode, but now comes the hard part: penetrating China's huge underground mining market. The dispute overshadowed the real importance of giving CAT the product line and distribution it desperately wants in China, the world's top producer and consumer of coal. Post your comment!]]> <![CDATA[Ubiquiti (UBNT) -5.9% AH after filing to sell 7.7M shares on behalf of existing shareholders through a public offering. CEO/NBA owner Robert Pera will be selling 1.7M shares, lowering his stake to 64.4% from 66.4%. Investment firm Summit Partners will be selling 6M, lowering its stake to 10.5% from 17.3%. The filing comes shortly after Ubiquiti closed near its 52-week high, and a week after shares took off in response to a Q1 beat and strong guidance. (S-1)]]> http://seekingalpha.com/currents/post/1033801?source=feed 1033801 2 comments!]]> Fri, 17 May 2013 18:08:33 -0400 SeekingAlpha UBNT) -5.9% AH after filing to sell 7.7M shares on behalf of existing shareholders through a public offering. CEO/NBA owner Robert Pera will be selling 1.7M shares, lowering his stake to 64.4% from 66.4%. Investment firm Summit Partners will be selling 6M, lowering its stake to 10.5% from 17.3%. The filing comes shortly after Ubiquiti closed near its 52-week high, and a week after shares took off in response to a Q1 beat and strong guidance. (S-1) 2 comments!]]> <![CDATA[All the chatter about cheap stocks is likely to fall on deaf ears if this "profitless rally" continues, observe analysts at Citigroup. Markets are expected to make further gains supported by moderate EPS growth and dividend increases, but "valuations imply less impressive gains from here," the bank says. In particular, a slowdown would affect two of the most impressive markets the most; the S&P 500 and the Nikkei, which have risen more than 16% and 46% this year, respectively.]]> http://seekingalpha.com/currents/post/1033791?source=feed 1033791 Post your comment!]]> Fri, 17 May 2013 18:08:18 -0400 SeekingAlpha cheap stocks is likely to fall on deaf ears if this "profitless rally" continues, observe analysts at Citigroup. Markets are expected to make further gains supported by moderate EPS growth and dividend increases, but "valuations imply less impressive gains from here," the bank says. In particular, a slowdown would affect two of the most impressive markets the most; the S&P 500 and the Nikkei, which have risen more than 16% and 46% this year, respectively. Post your comment!]]> <![CDATA[On the hour: S&P +0.97%. 10-yr -0.38%. Euro -0.37% vs. dollar. Crude +0.78% to $95.91. Gold -2.1% to $1357.75.]]> http://seekingalpha.com/currents/post/1033781?source=feed 1033781 Post your comment!]]> Fri, 17 May 2013 18:00:09 -0400 SeekingAlpha On the hour: S&P +0.97%. 10-yr -0.38%. Euro -0.37% vs. dollar. Crude +0.78% to $95.91. Gold -2.1% to $1357.75. Post your comment!]]> <![CDATA[The permit approval for the Freeport gas export project opens up the dam for other pending applications, but the pace of coming decisions is still unknown, analysts say, adding that similar projects building from existing facilities are best placed to secure approval and financing. Meanwhile, Cheniere Energy (LNG) has reaffirmed its operating target date of late 2015 for the export terminal it is building at Sabine Pass, La.]]> http://seekingalpha.com/currents/post/1033771?source=feed 1033771 7 comments!]]> Fri, 17 May 2013 17:52:43 -0400 SeekingAlpha permit approval for the Freeport gas export project opens up the dam for other pending applications, but the pace of coming decisions is still unknown, analysts say, adding that similar projects building from existing facilities are best placed to secure approval and financing. Meanwhile, Cheniere Energy (LNG) has reaffirmed its operating target date of late 2015 for the export terminal it is building at Sabine Pass, La. 7 comments!]]> <![CDATA[Westlake Chemical (WLK) declares $0.1875/share quarterly dividend, in line with previous. Forward yield 0.81%. For shareholders of record June 04. Payable June 19. Ex-div date May 31. (PR)]]> http://seekingalpha.com/currents/post/1033761?source=feed 1033761 Post your comment!]]> Fri, 17 May 2013 17:46:26 -0400 SeekingAlpha Westlake Chemical (WLK) declares $0.1875/share quarterly dividend, in line with previous. Forward yield 0.81%. For shareholders of record June 04. Payable June 19. Ex-div date May 31. (PR) Post your comment!]]> <![CDATA[QLogic (QLGC) CEO Simon Biddiscombe has resigned from his position, as well as from the company's board, to "pursue other opportunities." CFO Jean Hu has been named interim CEO while a search commences for a replacement. Biddiscombe became CEO in Nov. 2010, after serving as CFO for two years. QLogic has had a rough time during Biddiscombe's tenure, as both the company and archrival Emulex contended with soft storage adapter card demand and competitive pressures. Shares -2.2% AH.]]> http://seekingalpha.com/currents/post/1033751?source=feed 1033751 Post your comment!]]> Fri, 17 May 2013 17:46:18 -0400 SeekingAlpha QLGC) CEO Simon Biddiscombe has resigned from his position, as well as from the company's board, to "pursue other opportunities." CFO Jean Hu has been named interim CEO while a search commences for a replacement. Biddiscombe became CEO in Nov. 2010, after serving as CFO for two years. QLogic has had a rough time during Biddiscombe's tenure, as both the company and archrival Emulex contended with soft storage adapter card demand and competitive pressures. Shares -2.2% AH. Post your comment!]]> <![CDATA[After-hours top gainers, as of 5:15 p.m.: [[GAIA]] +7.6%. [[ADK]] +6.4%. [[PATH]] +5.3%. [[GST]] +4.2%. [[DQ]] +3.3%. After-hours top losers: [[DATA]] -5.1%. [[QEP]] -3.8%. [[CPRT]] -3.8%. [[RPAI]] -3.6%. [[EA]] -2.3%.]]> http://seekingalpha.com/currents/post/1033741?source=feed 1033741 Post your comment!]]> Fri, 17 May 2013 17:42:10 -0400 SeekingAlpha After-hours top gainers, as of 5:15 p.m.: GAIA +7.6%. ADK +6.4%. PATH +5.3%. GST +4.2%. DQ +3.3%.
After-hours top losers: DATA -5.1%. QEP -3.8%. CPRT -3.8%. RPAI -3.6%. EA -2.3%. Post your comment!]]> <![CDATA[Though Google's rally and Apple's plunge have received more headlines, Microsoft ([[MSFT]] +2.3%) has rallied this month to levels last seen in '07, and in doing so has let Bill Gates pass Carlos Slim to become (once more) the world's richest man. Shares are up 32% YTD as value investors bet enterprise and cloud services strength will offset PC weakness and slow Windows 8 uptake. Microsoft currently trades at 8.6x FY14E EPS after backing out net cash/investments.]]> http://seekingalpha.com/currents/post/1033731?source=feed 1033731 2 comments!]]> Fri, 17 May 2013 17:34:32 -0400 SeekingAlpha MSFT +2.3%) has rallied this month to levels last seen in '07, and in doing so has let Bill Gates pass Carlos Slim to become (once more) the world's richest man. Shares are up 32% YTD as value investors bet enterprise and cloud services strength will offset PC weakness and slow Windows 8 uptake. Microsoft currently trades at 8.6x FY14E EPS after backing out net cash/investments. 2 comments!]]> <![CDATA[Venezuela reportedly will allow its state-owned energy company to form joint ventures with PetroChina (PTR) and Chevron (CVX) to manage $6B in loans designed to reverse declining oil output. Agreements have been reached on terms of a $2B credit from CVX for the Petroboscan venture and a $4B loan from China for Sinovensa. Similar deals may be in the works with Shell (RDS.A) and Repsol.]]> http://seekingalpha.com/currents/post/1033721?source=feed 1033721 3 comments!]]> Fri, 17 May 2013 17:31:35 -0400 SeekingAlpha form joint ventures with PetroChina (PTR) and Chevron (CVX) to manage $6B in loans designed to reverse declining oil output. Agreements have been reached on terms of a $2B credit from CVX for the Petroboscan venture and a $4B loan from China for Sinovensa. Similar deals may be in the works with Shell (RDS.A) and Repsol. 3 comments!]]> <![CDATA[Accenture (ACN) is acquiring e-commerce/online ad consulting firm Acquity Group (AQ) for $316M, or $13/share, in cash. The price represents an 118% premium to Acquity's close today. Much like Accenture's recent purchases of Fjord and avVenta, the deal is about increasing Accenture's exposure to a burgeoning Web/digital marketing services space, and pitch more comprehensive solutions to CMOs and ad agencies. Accenture notes Acquity brings expertise in popular platforms such as Adobe and hybris. Acquity shares +111% AH to $12.56.]]> http://seekingalpha.com/currents/post/1033711?source=feed 1033711 Post your comment!]]> Fri, 17 May 2013 17:28:23 -0400 SeekingAlpha ACN) is acquiring e-commerce/online ad consulting firm Acquity Group (AQ) for $316M, or $13/share, in cash. The price represents an 118% premium to Acquity's close today. Much like Accenture's recent purchases of Fjord and avVenta, the deal is about increasing Accenture's exposure to a burgeoning Web/digital marketing services space, and pitch more comprehensive solutions to CMOs and ad agencies. Accenture notes Acquity brings expertise in popular platforms such as Adobe and hybris. Acquity shares +111% AH to $12.56. Post your comment!]]> <![CDATA[The NYSE cancels rogue trades in Anadarko Petroleum (APC) from the final second of the trading day that took the stock from $90 to one cent in some trades. NYSE initiated a "clearly erroneous execution review,” resulting in cancellation of trades executed at or below $87.56/share in that last second.]]> http://seekingalpha.com/currents/post/1033701?source=feed 1033701 5 comments!]]> Fri, 17 May 2013 17:14:06 -0400 SeekingAlpha cancels rogue trades in Anadarko Petroleum (APC) from the final second of the trading day that took the stock from $90 to one cent in some trades. NYSE initiated a "clearly erroneous execution review,” resulting in cancellation of trades executed at or below $87.56/share in that last second. 5 comments!]]>