Global Geophysical target raised to $6 from $5 at Barclays
Barclays raises their GGS tgt to $6 from $5 as they believe that GGS will benefit from the rebirth in exploration activity that is currently under way and gaining steam, particularly in the international markets. The company remains in transition as new CEO Richard White implements a refreshed strategic vision. With a strong start to the year and continued changes on the horizon, they believe the improved GGS will be well positioned to capitalize on this upturn given the company's broad geographic footprint, standardized equipment base, and focus on free cash flow generation.
25-Apr-13 06:59 ET
GGS
Global Geophysical beats by $0.14
Reports Q1 (Mar) earnings of $0.05 per share, excluding non-recurring items, $0.14 better than the Capital IQ Consensus Estimate of ($0.09); revenues fell 13.2% year/year to $83.4 mln vs the $64.2 mln consensus (2 estimates).
RKUS Lock up Expiration is over and the stock is on the way back up :))
Lock-Up Expiration for ◦Ruckus Wireless (RKUS) ended on •May 15
Lock-Up Expiration Outlook: May 20 - May 31 -Update
Looking ahead over the next two weeks, we note that there are 2 initial lock-up periods set to expire. IPOs prohibit insiders from selling for typically 180 days after the initial offering.
Many times you will see shorting into the Lock up Expiration, then a rise in the stock price after as the shorts cover....usually the day the Lock up expires the stock rises.
After barely moving yesterday in response to nearly in-line Q1 results and strong Q2 revenue guidance, Youku (YOKU -9.6%) is falling hard today. The decline comes even though Youku has received two upgrades since the report (from HSBC and Maxim), as well as a bullish coverage launch from BofA. Concerns about mobile monetization could be a factor. On its earnings call, Youku stated mobile daily video views rose 50%+ Q/Q and are now above 170M, that mobile monthly users have topped 100M (PC users are around 400M), and that mobile now makes up ~30% of traffic. However, the company added "mobile monetization this year is relatively modest." [View news story]
YOKU Youku Tudou initiated with a Buy at BofA/Merrill Target $27. :theflyonthewall
YOKU Youku Tudou price target raised to $25 from $21 at Macquarie Macquarie said YouKu provided strong guidance and believes it will continue to evolve its business model content, expand mobile monetization, and launch more paid services. Shares are Outperform rated
After barely moving yesterday in response to nearly in-line Q1 results and strong Q2 revenue guidance, Youku (YOKU -9.6%) is falling hard today. The decline comes even though Youku has received two upgrades since the report (from HSBC and Maxim), as well as a bullish coverage launch from BofA. Concerns about mobile monetization could be a factor. On its earnings call, Youku stated mobile daily video views rose 50%+ Q/Q and are now above 170M, that mobile monthly users have topped 100M (PC users are around 400M), and that mobile now makes up ~30% of traffic. However, the company added "mobile monetization this year is relatively modest." [View news story]
As mentioned previously, HSBC upgraded Yoku to OW and raised their price tgt to $30 from $21. They note that their upgrade and price target increase is based on higher earnings estimates. 1Q results met expectations but 2Q guidance reflects revenue synergies, share gains, and broadening advertiser base.
Read more: http://bit.ly/18QnZGd Under Creative Commons License: Attribution Follow us: @Briefingcom on Twitter | Briefingcom on Facebook
2 High Yielding Refiners To Buy Here [View article]
Cramer wants you in this secondary CVRR
CVRR By Jim Cramer | May 15, 2013 | 10:59 AM EDT
Just did a timely video with Dan Dicker where Dan suggests that people go buy some CVRR which makes a ton of sense if you look at that refiners' distribution.
CVR Refining By Daniel Dicker | May 15, 2013 | 10:06 AM EDT
Secondary is tremendous opportunity for investors who missed CVR Refining's (CVRR) $25 IPO. This stock in its short life has been as high as $35, and with a distribution likely to stay around 17% and Icahn at the wheel, you've got a great spot to get some shares relatively cheap.
Secondary priced at $30.75 -- it's trading lower than that ... gimme ...
2 High Yielding Refiners To Buy Here [View article]
CVRR
"Icahn Enterprises, L.P., has indicated that it or its affiliates may purchase 2,000,000 Common Units from CVR Refining Holdings in a concurrent privately negotiated transaction at a price per Common Unit equal to the price per Common Unit paid by the public in this offering."
That would give Carl Icahn 6 million shares in CVRR..he already owns 4 million shares
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
For those who've noticed American Capital Mortgage's (MTGE -3%) allocation to non-agency MBS has...
Monday, May 13, 1:30 PM ET For those who've noticed American Capital Mortgage's (MTGE -3%) allocation to non-agency MBS has declined from a typical 30% to 20%, co-CIO Jeff Winkler (he's in charge of non-agencies, Gary Kain does agencies) says (JMP presentation) don't forget Q1's capital raise. The firm rapidly deployed the new funds into agency paper and will over time - as the non-agency market hopefully expands - move that money over. http://bit.ly/166INum
U.S. Silica Holdings: Is It #2, A 'Big Guy' Or What? [View article]
Yes definitely I do not buy the "supply has met demand" thesis, and I do believe SLCA should be valued as an aggressive-growth stock.
SLCA Has strong market position and they are taking share, 2) have high margins, and 3) have a good amount of capacity coming online in 2H13 which will better help them keep up with demand so maybe they can stop turning business away.
Turning away business means too much demand. A high quality problem that you want to see in an aggressive growth stock.
U.S. Silica Holdings: Is It #2, A 'Big Guy' Or What? [View article]
On the Conference call the Co explained that margin pressure was due to co having too much demand and it chose to support its long-term contracted customers with extra supply, instead of selling it at the much higher spot rate to non-contract customers. Co also noted that demand was so strong for Frac sand in March, that it turned away 50,000 tons of demand at spot prices and says spot prices are continuing to rise
SLCA sold massive volumes of its low margin, low grade sand, known as 100 mesh. SLCA makes a profit on these sales, but they hurt margins. Q1 was an anomaly, it's very rare that SLCA will sell this much 100 mesh in a quarter. "It's out of our control." SLCA surmises that there was a lot of experimenting going on by the drillers.
If SLCA had sold its normal amount of 100 mesh, the company's overall contribution margin would be in the range achieved in 2012. Also, SLCA mentioned that these sales did not cannibalize its higher grades and that the product mix should balance out over the course of 2013. SLCA is already seeing less 100 mesh demand in April. SLCA decided to cater to its longer term, contracted customers which will probably pay dividends in the future when the two sides sit down to negotiate their next contract.
The other big factor impacting margins was that SLCA's contract customers were buying huge amounts of sand. They were buying more than 120% of their contract minimums. SLCA could have sold that sand at spot prices which are higher than contract prices right now, but they chose to cater to their valued contract customers instead. If sold at spot prices, that would have boosted margins.
U.S. Silica Holdings: Is It #2, A 'Big Guy' Or What? [View article]
SLCA Maintains Buy BOFA research report raises target to $26 5/3/2013
U.S. Silica’s (SLCA) growth initiatives are beginning to pay off with the Sparta, WI sand mine, new Rochelle, IL resin coated plant and San Antonio transload facility coming to fruition. The Board has also approved the Phase II expansion at Sparta, which we expect to come online at the end of 2013. Accordingly, we keep our 2013 EPS estimate at $1.70, but bump 2014 EPS estimates to $2.20 from $2.10. Higher volumes sold in basins could provide upside as SLCA earns $2-$5/ton of incremental margin. As a result of our increase in estimates, our PO increases to $26 from $24, or 12x 2014 EPS. This is about a 6x multiple discount to the 2012 NTM P/E high for Carbo Ceramic (http://bit.ly/17OIHox) - the closest comparable - and in line with median discount
Frac sand market stable
SLCA instituted a regular quarterly dividend of $0.125 per share ($27mn annually), which underscores management’s confidence in the cash flow outlook. SLCA is sold out of most grades of frac sand and had to turn down 50k tons of orders in 1Q13. March was the highest volume demand month so far. Spot pricing seems to have stabilized in 1Q13. SLCA added a new take-or-pay contract. The average length of contracts now extends into 2015. SCLA expects about a 30% increase in volumes sold under contracts during 2013 driven by the Sparta facility.
Lower volumes in ISP during 1Q were driven by weather related issues and as some volumes of 100 mesh were diverted to the frac sand market. ISP is a GDP type growth business. However, SLCA hired a new team about 15 months ago to focus on high value added products. The company now has a strong pipeline of 8-10 new products, the first of which will launch in late 2013 in the water treatment market. SLCA targets at least $10mn of incremental EBITDA in 2014. We model about $7mn of EBITDA growth between 2012 and 2014
I thought you would like to see this. I left a comment on the article but didn't hit reply so you may not not have been notified. I wanted you to see this..Thank you for your kind comments as well :-)
GASS StealthGas initiated with an Overweight at Evercore Target $14. :theflyonthewall.com
2 High Yielding Refiners To Buy Here [View article]
Form 4 CVR Refining, LP For: May 20 Filed by: ICAHN CARL C 05/20 05:19 PM
----------------------...
http://bit.ly/1161v2h
Filed on: May 20, 2013
May 2013 IPO Market Update [View article]
26-Apr-13 13:59 ET
GGS
Global Geophysical target raised to $6 from $5 at Barclays
Barclays raises their GGS tgt to $6 from $5 as they believe that GGS will benefit from the rebirth in exploration activity that is currently under way and gaining steam, particularly in the international markets. The company remains in transition as new CEO Richard White implements a refreshed strategic vision. With a strong start to the year and continued changes on the horizon, they believe the improved GGS will be well positioned to capitalize on this upturn given the company's broad geographic footprint, standardized equipment base, and focus on free cash flow generation.
25-Apr-13 06:59 ET
GGS
Global Geophysical beats by $0.14
Reports Q1 (Mar) earnings of $0.05 per share, excluding non-recurring items, $0.14 better than the Capital IQ Consensus Estimate of ($0.09); revenues fell 13.2% year/year to $83.4 mln vs the $64.2 mln consensus (2 estimates).
May 2013 IPO Market Update [View article]
Lock-Up Expiration for ◦Ruckus Wireless (RKUS) ended on •May 15
Lock-Up Expiration Outlook: May 20 - May 31 -Update
Looking ahead over the next two weeks, we note that there are 2 initial lock-up periods set to expire. IPOs prohibit insiders from selling for typically 180 days after the initial offering.
•May 20
◦Alon USA Partners (http://bit.ly/X9jXjU)
◦YY (http://bit.ly/10I3ZSU)
Many times you will see shorting into the Lock up Expiration, then a rise in the stock price after as the shorts cover....usually the day the Lock up expires the stock rises.
After barely moving yesterday in response to nearly in-line Q1 results and strong Q2 revenue guidance, Youku (YOKU -9.6%) is falling hard today. The decline comes even though Youku has received two upgrades since the report (from HSBC and Maxim), as well as a bullish coverage launch from BofA. Concerns about mobile monetization could be a factor. On its earnings call, Youku stated mobile daily video views rose 50%+ Q/Q and are now above 170M, that mobile monthly users have topped 100M (PC users are around 400M), and that mobile now makes up ~30% of traffic. However, the company added "mobile monetization this year is relatively modest." [View news story]
Target $27. :theflyonthewall
YOKU Youku Tudou price target raised to $25 from $21 at Macquarie
Macquarie said YouKu provided strong guidance and believes it will continue to evolve its business model content, expand mobile monetization, and launch more paid services. Shares are Outperform rated
After barely moving yesterday in response to nearly in-line Q1 results and strong Q2 revenue guidance, Youku (YOKU -9.6%) is falling hard today. The decline comes even though Youku has received two upgrades since the report (from HSBC and Maxim), as well as a bullish coverage launch from BofA. Concerns about mobile monetization could be a factor. On its earnings call, Youku stated mobile daily video views rose 50%+ Q/Q and are now above 170M, that mobile monthly users have topped 100M (PC users are around 400M), and that mobile now makes up ~30% of traffic. However, the company added "mobile monetization this year is relatively modest." [View news story]
YOKU
Youku Tudou upgrade details- HSBC Securities (19.07 -2.01)
As mentioned previously, HSBC upgraded Yoku to OW and raised their price tgt to $30 from $21. They note that their upgrade and price target increase is based on higher earnings estimates. 1Q results met expectations but 2Q guidance reflects revenue synergies, share gains, and broadening advertiser base.
Read more: http://bit.ly/18QnZGd
Under Creative Commons License: Attribution
Follow us: @Briefingcom on Twitter | Briefingcom on Facebook
2 High Yielding Refiners To Buy Here [View article]
It makes sense. CVRR just did a secondary (he loves that) and he is behind CVRR's secondary in articles and a video
2 High Yielding Refiners To Buy Here [View article]
CVRR
By Jim Cramer
| May 15, 2013
| 10:59 AM EDT
Just did a timely video with Dan Dicker where Dan suggests that people go buy some CVRR which makes a ton of sense if you look at that refiners' distribution.
CVR Refining
By Daniel Dicker
| May 15, 2013
| 10:06 AM EDT
Secondary is tremendous opportunity for investors who missed CVR Refining's (CVRR) $25 IPO. This stock in its short life has been as high as $35, and with a distribution likely to stay around 17% and Icahn at the wheel, you've got a great spot to get some shares relatively cheap.
Secondary priced at $30.75 -- it's trading lower than that ... gimme ...
Position: Long CVRR
http://bit.ly/13xzGze
2 High Yielding Refiners To Buy Here [View article]
"Icahn Enterprises, L.P., has indicated that it or its affiliates may
purchase 2,000,000 Common Units from CVR Refining Holdings in a concurrent privately negotiated transaction at a price per Common Unit equal to the price per Common Unit paid by the public in this offering."
That would give Carl Icahn 6 million shares in CVRR..he already owns 4 million shares
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
Monday, May 13, 1:30 PM ET
For those who've noticed American Capital Mortgage's (MTGE -3%) allocation to non-agency MBS has declined from a typical 30% to 20%, co-CIO Jeff Winkler (he's in charge of non-agencies, Gary Kain does agencies) says (JMP presentation) don't forget Q1's capital raise. The firm rapidly deployed the new funds into agency paper and will over time - as the non-agency market hopefully expands - move that money over.
http://bit.ly/166INum
U.S. Silica Holdings: Is It #2, A 'Big Guy' Or What? [View article]
SLCA Has strong market position and they are taking share, 2) have high margins, and 3) have a good amount of capacity coming online in 2H13 which will better help them keep up with demand so maybe they can stop turning business away.
Turning away business means too much demand. A high quality problem that you want to see in an aggressive growth stock.
U.S. Silica Holdings: Is It #2, A 'Big Guy' Or What? [View article]
SLCA sold massive volumes of its low margin, low grade sand, known as 100 mesh. SLCA makes a profit on these sales, but they hurt margins. Q1 was an anomaly, it's very rare that SLCA will sell this much 100 mesh in a quarter. "It's out of our control." SLCA surmises that there was a lot of experimenting going on by the drillers.
If SLCA had sold its normal amount of 100 mesh, the company's overall contribution margin would be in the range achieved in 2012. Also, SLCA mentioned that these sales did not cannibalize its higher grades and that the product mix should balance out over the course of 2013. SLCA is already seeing less 100 mesh demand in April. SLCA decided to cater to its longer term, contracted customers which will probably pay dividends in the future when the two sides sit down to negotiate their next contract.
The other big factor impacting margins was that SLCA's contract customers were buying huge amounts of sand. They were buying more than 120% of their contract minimums. SLCA could have sold that sand at spot prices which are higher than contract prices right now, but they chose to cater to their valued contract customers instead. If sold at spot prices, that would have boosted margins.
U.S. Silica Holdings: Is It #2, A 'Big Guy' Or What? [View article]
U.S. Silica’s (SLCA) growth initiatives are beginning to pay off with the Sparta, WI sand mine, new Rochelle, IL resin coated plant and San Antonio transload facility coming to fruition. The Board has also approved the Phase II expansion at Sparta, which we expect to come online at the end of 2013. Accordingly, we keep our 2013 EPS estimate at $1.70, but bump 2014 EPS estimates to $2.20 from $2.10. Higher volumes sold in basins could provide upside as SLCA earns $2-$5/ton of incremental margin. As a result of our increase in estimates, our PO increases to $26 from $24, or 12x 2014 EPS. This is about a 6x multiple discount to the 2012 NTM P/E high for Carbo Ceramic (http://bit.ly/17OIHox) - the closest comparable -
and in line with median discount
Frac sand market stable
SLCA instituted a regular quarterly dividend of $0.125 per share ($27mn annually), which underscores management’s confidence in the cash flow outlook. SLCA is sold out of most grades of frac sand and had to turn down 50k tons of orders in 1Q13. March was the highest volume demand month so far. Spot pricing seems to have stabilized in 1Q13. SLCA added a new take-or-pay contract. The average length of contracts now extends into 2015. SCLA expects about a 30% increase in volumes sold under contracts during 2013 driven by the Sparta facility.
Higher Industrial and Specialty Products (http://bit.ly/Ypp9QM) margin
Lower volumes in ISP during 1Q were driven by weather related issues and as some volumes of 100 mesh were diverted to the frac sand market. ISP is a GDP type growth business. However, SLCA hired a new team about 15 months ago to focus on high value added products. The company now has a strong pipeline of 8-10 new products, the first of which will launch in late 2013 in the water treatment market. SLCA targets at least $10mn of incremental EBITDA in 2014. We model about $7mn of EBITDA growth between 2012 and 2014
U.S. Silica Holdings: Is It #2, A 'Big Guy' Or What? [View article]
U.S. Silica Holdings: Is It #2, A 'Big Guy' Or What? [View article]
Halcon Resources: Drilling For Dollars [View article]
http://seekingalpha.co...
I thought you would like to see this. I left a comment on the article but didn't hit reply so you may not not have been notified. I wanted you to see this..Thank you for your kind comments as well :-)
GASS StealthGas initiated with an Overweight at Evercore
Target $14. :theflyonthewall.com