General Motors (GM -0.2%) has a nice little insurance policy to help it create shareholder value just in case the forecasts for strong U.S. auto sales don't pan out. The connectivity value of the Onstar service from the automaker makes the asset worth close to a whopping $8B to $10B, according to a bullish take from Citigroup. Though speculation on an Onstar spinoff has been going on for more than a decade, the high penetration rate of communication/security services also makes the stand-alone concept more enticing than ever. [View news story]
Right on cue for the market dip, the AAII Investor Sentiment Survey shows a surge in bulls, their number jumping 10.5 points to 49% - the highest since mid-January, and against the long-term average of 39%. Bears jumped ship, their number dropping 7.8 points to 21.6% vs. the long-term average of 30.5%. [View news story]
Market overbought... correction coming and the Fed's comments may have just started one.
Loopholes allowed Apple (AAPL) to avoid $44B in U.S. taxes from 2009-2012, claims a Senate report released shortly after Apple's official statement. Though peers have also been accused of using offshore havens, the report argues Apple went further by creating a subsidiary (responsible for ~1/3 of profits from 2009-11) that used differences in U.S. and Irish law to have no residence whatsoever. Sen. Carl Levin calls this "the Holy Grail of tax avoidance." Also, while Apple claims $6B in FY12 federal tax payments, the report claims the real number is $2.4B if one backs out deferred payments on foreign cash (only paid if/when the cash is repatriated). [View news story]
Funny... the crooked politicians allow themselves to be bribed by the companies' lobbyists, then the crooked politicians whine about the loopholes they themselves put into the bills.
With its stock offering complete, Tesla (TSLA) will likely pay back its DOE loan on Wednesday, tweets Elon Musk. He adds Tesla's supercharger network announcement (previous) will be pushed back to next week as a result. Shares -0.6% AH. [View news story]
Whether or not you're a fan of the stock, this is a great move by Musk that is appreciated by the taxpayers.
Cabot Oil & Gas (COG) says it is using natural gas to fracture wells in the Marcellus shale via dual-fuel technology in a process that can displace as much as 70% of the diesel fuel traditionally used to operate fracking equipment, a first for the area. COG says the goals of its dual-fuel projects are to reduce air emissions and truck traffic, as well as cut costs. [View news story]
Among those apparently not worried about the fate of the 787 Dreamliner during the first quarter were hedge funds. All told, hedgies spent $1.6B during Q1 buying shares of Boeing (BA), FactSet says. (Also: 787 deliveries begin anew) [View news story]
Cooler heads expected BA to find a solution, which was the most likely outcome.
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. [View news story]
"When you talk about a stock that is for all intents and purposes pre-revenue, where all they have are partners, designs, and opportunities to hit a pretty big market, if they are able to execute, where their earnings leverage would be pretty large, then what we’re paying for is their ability to execute on that opportunity..."
So if you think mgmt can execute, then this is likely a buying oppy, but either way, probably more volatility to follow.
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. [View news story]
With exports finally coming online, Nat gas prices going to be ticking up
Canadian PM Stephen Harper lobbied for approval of the Keystone XL pipeline to the U.S. today, citing Canada's environmental credentials and saying arguments for the project are "overwhelmingly on the side of approval." By making the pitch himself, Harper ratchets up the level of government lobbying over the pipeline. Harper’s advocacy “helps cut through the noise and misinformation," TransCanada (TRP) says. [View news story]
Incompetent Obama hates the idea of energy independence without it originating from his extremist enviro-whacko supporters whose ideas, btw, are not viable without trillions in govt hand-outs.
More on Tesla: The company announces it's offering 2.7M shares (current value of $244M) and $450M in convertible debt due 2018 in a public offering. Elon Musk plans to buy $100M worth of shares - $45M through the offering, $55M through a private placement. Tesla expects $830M in gross proceeds. TSLA now +6.8% AH. [View news story]
If Elon Musk's net worth is $2.7 billion, then he's only putting 3.7% ($100mm) of it into TSLA here fwiw....
New Skullcandy (SKUL) CEO Hoby Darling bought 10K shares last Friday at a price of $5.41. News of the purchase comes with shares down 30% YTD and 67% from their 52-week high of $16.75. (Q1/2013 guidance) [View news story]
Only 10k shares of $5 stock for the CEO?
He needs to add another zero to that and show some conviction!
Two old Jonathan Lebed/momentum trader favorites - BroadVision (BVSN +14.9%) and Synacor (SYNC +16.1%) - are shooting higher. This morning, BroadVision announced giant Japanese carrier NTT will use the company's software to power a cloud-based enterprise task management service, and Synacor announced (in what doesn't seem like big news) it would demo its Cloud ID solution (allows TV Everywhere logins via Facebook/Twitter/Google+) at this week's Google I/O conference. [View news story]
General Motors (GM -0.2%) has a nice little insurance policy to help it create shareholder value just in case the forecasts for strong U.S. auto sales don't pan out. The connectivity value of the Onstar service from the automaker makes the asset worth close to a whopping $8B to $10B, according to a bullish take from Citigroup. Though speculation on an Onstar spinoff has been going on for more than a decade, the high penetration rate of communication/security services also makes the stand-alone concept more enticing than ever. [View news story]
Right on cue for the market dip, the AAII Investor Sentiment Survey shows a surge in bulls, their number jumping 10.5 points to 49% - the highest since mid-January, and against the long-term average of 39%. Bears jumped ship, their number dropping 7.8 points to 21.6% vs. the long-term average of 30.5%. [View news story]
Loopholes allowed Apple (AAPL) to avoid $44B in U.S. taxes from 2009-2012, claims a Senate report released shortly after Apple's official statement. Though peers have also been accused of using offshore havens, the report argues Apple went further by creating a subsidiary (responsible for ~1/3 of profits from 2009-11) that used differences in U.S. and Irish law to have no residence whatsoever. Sen. Carl Levin calls this "the Holy Grail of tax avoidance." Also, while Apple claims $6B in FY12 federal tax payments, the report claims the real number is $2.4B if one backs out deferred payments on foreign cash (only paid if/when the cash is repatriated). [View news story]
With its stock offering complete, Tesla (TSLA) will likely pay back its DOE loan on Wednesday, tweets Elon Musk. He adds Tesla's supercharger network announcement (previous) will be pushed back to next week as a result. Shares -0.6% AH. [View news story]
Cabot Oil & Gas (COG) says it is using natural gas to fracture wells in the Marcellus shale via dual-fuel technology in a process that can displace as much as 70% of the diesel fuel traditionally used to operate fracking equipment, a first for the area. COG says the goals of its dual-fuel projects are to reduce air emissions and truck traffic, as well as cut costs. [View news story]
Among those apparently not worried about the fate of the 787 Dreamliner during the first quarter were hedge funds. All told, hedgies spent $1.6B during Q1 buying shares of Boeing (BA), FactSet says. (Also: 787 deliveries begin anew) [View news story]
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. [View news story]
So if you think mgmt can execute, then this is likely a buying oppy, but either way, probably more volatility to follow.
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. [View news story]
Uni-Pixel - A Stock Ready For New Highs [View article]
This thing's getting sold with both fists... 26s (down 25%) and the day still isn't over...
Canadian PM Stephen Harper lobbied for approval of the Keystone XL pipeline to the U.S. today, citing Canada's environmental credentials and saying arguments for the project are "overwhelmingly on the side of approval." By making the pitch himself, Harper ratchets up the level of government lobbying over the pipeline. Harper’s advocacy “helps cut through the noise and misinformation," TransCanada (TRP) says. [View news story]
More on Tesla: The company announces it's offering 2.7M shares (current value of $244M) and $450M in convertible debt due 2018 in a public offering. Elon Musk plans to buy $100M worth of shares - $45M through the offering, $55M through a private placement. Tesla expects $830M in gross proceeds. TSLA now +6.8% AH. [View news story]
Tesla (TSLA) takes advantage of its huge run-up to file a mixed shelf. Shares -2.9% AH. (S-3) [View news story]
Tesla (TSLA) takes advantage of its huge run-up to file a mixed shelf. Shares -2.9% AH. (S-3) [View news story]
New Skullcandy (SKUL) CEO Hoby Darling bought 10K shares last Friday at a price of $5.41. News of the purchase comes with shares down 30% YTD and 67% from their 52-week high of $16.75. (Q1/2013 guidance) [View news story]
He needs to add another zero to that and show some conviction!
Two old Jonathan Lebed/momentum trader favorites - BroadVision (BVSN +14.9%) and Synacor (SYNC +16.1%) - are shooting higher. This morning, BroadVision announced giant Japanese carrier NTT will use the company's software to power a cloud-based enterprise task management service, and Synacor announced (in what doesn't seem like big news) it would demo its Cloud ID solution (allows TV Everywhere logins via Facebook/Twitter/Google+) at this week's Google I/O conference. [View news story]