Widows And Orphans Midday Report (7/10/13)
Widows&Orphans's Blog
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WINNERS
| Symbol | Company Name | Price | Price Chg. | Price % Chg. | Volume (000) | Volume % Chg. |
| HLF | Herbalife Ltd | $50.50 | 1.60 | 3% | 1,885 | 96% |
| WAC | Walter Investment Mgmt | $32.59 | 0.82 | 3% | 694 | 111% |
| DHY | Credit Suisse Hi Yld Bd | $2.99 | 0.06 | 2% | 369 | 47% |
| XIN | Xinyuan Real Estate Ads | $4.23 | 0.07 | 2% | 75 | -47% |
| PBI | Pitney-Bowes Inc | $14.47 | 0.22 | 2% | 1,162 | -32% |
| LMT | Lockheed Martin Corp | $111.14 | 1.57 | 1% | 557 | -26% |
| GRMN | Garmin Ltd | $35.56 | 0.39 | 1% | 305 | -28% |
| SCCO | Southern Copper Corp | $27.01 | 0.27 | 1% | 588 | -20% |
| SI | Siemens A G Adr | $104.78 | 0.97 | 1% | 695 | 363% |
| MSFT | Microsoft Corp | $34.59 | 0.24 | 1% | 13,548 | -27% |
| LO | Lorillard Inc | $46.08 | 0.29 | 1% | 631 | -53% |
| TMO | Thermo Fisher Scientific | $87.80 | 0.53 | 1% | 435 | -55% |
LOSERS
| KKR | K K R & Co Lp | $19.79 | -0.10 | -1% | 455 | -56% |
| JPM | J P Morgan Chase & Co | $54.56 | -0.33 | -1% | 7,077 | -22% |
| BKCC | Blackrock Kelso Cap Corp | $9.57 | -0.06 | -1% | 111 | -55% |
| CSX | C S X Corp | $23.91 | -0.15 | -1% | 2,468 | -12% |
| BRKB | Berkshire Hathaway Cl B | $114.94 | -0.86 | -1% | 750 | -54% |
| GE | General Electric Co | $23.44 | -0.19 | -1% | 9,697 | -39% |
| EFC | Ellington Financial | $22.42 | -0.22 | -1% | 37 | -68% |
| CTB | Cooper Tire & Rubber Co | $33.23 | -0.33 | -1% | 742 | -20% |
| RSO | Resource Capital Corp | $6.03 | -0.07 | -1% | 138 | -74% |
| CYS | C Y S Investments Inc | $8.22 | -0.12 | -1% | 1,560 | 18% |
| GOLD | Randgold Resources Adr | $61.01 | -0.97 | -2% | 467 | 28% |
| SXL | Sunoco Logistics Ptnr Lp | $62.90 | -1.30 | -2% | 122 | 22% |
- V:
MasterCard (MA -0.6%) and Visa (V -0.4%) are both up over 20% YTD and trade near all-time highs, but could have even more upside, according to analysts. The delinquency rate on credit cards issued by banks fell to its lowest level since 1990 in June as consumers continue to be in a better position to meet their monthly nut. The trend could help transaction volume pick up. - GE:
GE Healthcare's (GE -0.6%) Clarient Diagnostic Services announces the first lab developed test using MultiOmyx, a new pathology platform which uses proprietary methodology to assess multiple proteins from a single tissue section at a single-cell level. This test will assist in pathologist's diagnosis of CD30-positive lymphoma cases with difficult morphology or otherwise insufficient tissue to adequately evaluate the case. - MMM:
Enter to Win $10k in Scotch Tape's National Gift Wrapping Contest - TWO:
More from FBR on financials (Previous: 1. Banks 2. Servicers): In mREITs (REM), stick with those in commercial real estate as higher rates and an improving economy are good things. Starwood Property (STWD) remains a favorite with a Q2 earnings catalyst: It should give management an opportunity to offer positive guidance relating to the Linamar acquisition. For the rest of the bombed-out sector, Q2 reports should give a needed look under the hood on book values. TWO Harbors is a favorite thanks to a cheap valuation and what FBR believes to be the firm's increased short rate exposure. - WAC:
More from FBR on financials (previous): Specialty mortgage servicers should be able to offset mortgage banking headwinds as rising interest rates (no prepays) make their servicing portfolios more valuable. Favorites are: Nationstar (NSM), Walter (WAC), and PHH. - DD:
Discontinued Operations Removed From Invested Capital - LMT:
Lockheed Martin GPS III Prototype Validates Test Facilities For Future Flight Satellites - MSFT:
Microsoft CityNext: Coming to a city near you - AGNC:
Disproportionate Sell-Off Of REIT Preferreds Creates Substantial Opportunity - AAPL:
U.S. district judge Denise Cole declares Apple (AAPL) guilty of conspiring to fix e-book prices, in violation of antitrust law, and says a damages trial will take place. Apple's publisher partners have already settled with the DOJ. The ruling arguably represents a win for e-book rival Amazon (AMZN), which wants to maintain the right to set its own e-book prices (regained last year following publisher settlements with the DOJ and EU). - LMT:
Lockheed Martin's LRLAP Projectile Scores Four-Of-Four In Tests For U.S. Navy - TWO, VOD:
My Mad Method: What Next To Buy, And Why? - July 2013 - TWO, AGNC:
Mortgage REITs: Use The Sell-Off To Buy Yield And Stability - LMT, LO:
My Updated Income Portfolio Of 30 - CAT:
Caterpillar Inc. to Announce Second-Quarter 2013 Financial Results on July 24 - GOLD:
Randgold Resources (GOLD) CEO Mark Bristow ssys the company's "key objectives remain intact, notably the aim of exceeding 1.2M oz. of production by 2015... With our robust operations, low costs and no debt, and Kibali on schedule to pour its first gold before the end of this year, Randgold can face any realistically foreseeable gold price scenario with equanimity." Shares -1% premarket. - WAC:
Beaten-up specialty mortgage servicer Walter Investment Management (WAC) finds a fan in JPMorgan, which initiates coverage with a Buy and $43 price target (last night's close was $31.77). Walter dove following a weak Q1 earnings report and hasn't been able get back up. The worry then was about prepays. With prepays now off the table (thanks to higher rates), the issue shifts to slowing mortgage origination volumes. - AAPL, MSFT:
The Nasdaq Is Back... Is It Time To Party Like It's 1999? - KKR, GE:
Wall Street Breakfast: Must-Know News - KKR:
KKR (KKR) has raised $6B for its Asia II private equity fund, making it the largest such investment vehicle in the region. The amount tops the $4B KKR attracted for its first Asia fund in 2007 and the $1B it brought in for its China Growth Fund in 2010. Valuations have been falling in Asia due to slowing economies, although volatility and strict barriers to investment for foreigners pose challenges. - AGNC:
What Do American Capital Agency Corporation's Risk Metrics Tell Us About Current Book Value? - VZ:
Verizon Builds Gateway to Secure Australian Federal Police's IT Systems - HLF:
Other multi-level-marketers active on the back of Nu Skin's (NUS) raised guidance: Herbalife (HLF) +2.3%, USANA (USNA) +0.6%, Blyth (BTH) +0.3%. - GOLD:
What It Really Costs To Mine Gold: The First Quarter Eldorado Gold Edition - HLF:
After-hours top gainers, as of 5:15 p.m.: NUS +7%. HLF +3%. HELE +2%. GOGO +2%. OSTK +2%. After-hours top losers: FLY -7%. KYN -5%. OPEN -4%. EXP -3%. INSY -2%. - GE:
The Financial Stability Oversight Council officially designates GE Capital (GE) and AIG as non-bank "systemically important financial institutions" - the two will be subject to Dodd-Frank supervision. Jack Lew calls the move "a decisive step to address threats to financial stability." (Previous: AIG, GE Capital not planning (SIFI) designation appeal) - AAPL:
Intel's Total Earnings Are Falling Faster Than Meets The Eye - JPM:
Ally Financial drops JPMorgan from the list of underwriters for its planned IPO, according to an amended S-1. Owners of JPMorgan (JPM) may not be too disappointed as the U.S. Treasury likes its underwriting fees discounted, paying less than 1% on the stock sales of GM and AIG vs. more than 3% for typical equity offerings and 5.5% for IPOs. - JPM:
JPMorgan Is A Buy, But It's Not The Time To Rush Into Position - AAPL:
Why This Is Not A Buy And Hold Market - CSX:
Pipeline Vs. Rail: Canada Oil Train Crash - CTB, GRMN:
Ranking Consumer Discretionary Stocks By Dividend And Earnings Yield - SCCO:
Southern Copper (SCCO +0.4%) denies reports that it was planning to close its Ilo smelter in Peru. SCCO says it was conveying to its workers that strict enforcement of sulfur dioxide emissions standards would have a negative impact on Peruvian industry and raise the possibility of closure; it says it seeks to promote air quality standards that foster but do not limit the country's industrial development. - SI:
Siemens (SI +0.2%) gets some support from Deutsche Bank today, upgrading the shares from Sell to Hold and raising its price target from $70 to $75. Deutsche says that as we get closer to FY14, it expects investors to look through FY2013, which has turned out to be to be a rather messy transition year. SI's exit from Osram and NSN will make it simpler to value, but cautions that the future shape and investment needs of the Infrastructure & Cities sector still remain unclear. - MSFT:
Microsoft awards top-performing partners at Microsoft Worldwide Partner Conference - VOD:
Vodafone's (VOD +0.3%) U.K. prepaid subs are up in arms over the carrier's plan to begin billing users by the minute (while rounding numbers up), rather than by the second, starting on Aug. 1. For example, a call that lasts 2 minutes and 10 seconds will now be billed as 3 minutes. Vodafone insists it's just trying to simplify its pricing. The fact its U.K. revenue fell 3.7% Y/Y in FY13 might have something to do with the decision. - VZ:
Why Netflix's Biggest Threat May Be Discovery Communications - JPM:
Bank Chart Of The Week: Why It Doesn't Matter Which Banks Are Positively 'Gapped' - DHY:
Rebound Potential And A 10.6% Yield Make This CEF Very Attractive - MSFT:
Nokia Does The Right Thing, Ditches Windows RT - MSFT:
Nokia: It's About Sending A Message - MMM:
3M and Reshine Complete NMC Cathode Patent License Agreement - TOT:
Which Oil Company Is The Cheapest? - BRK.B:
Why Share Buybacks Should Have Price Limits
Pretty Girls and Railroads
- US corporate borrowers return to market
- Pretty Girls and Railroads June 9, 2013 Daily Close Analytics Report
- The Big Number
- Banks to Beat This Quarter? Maybe Not, Says Bove
- Pretty Girls and Railroads July 9, 2013 Midday Analytics Report
- Cashin: The Market Rotation You Want to See
- Pretty Girls and Railroads July 8, 2013 Daily Close Analytics Report
- Fewer Homeowners Underwater
- Early Trader Edge Ending
- Pretty Girls and Railroads July 8, 2013 Midday Analytics Report
Climbers and Dogs
- EVA's Stewart, Ball's Morrison on Maximizing Value (Audio) + MORE
- Climbers and Dogs July 9, 2013 Daily Close Analytics Report
- Composite Portfolio Midday Report (7/9/13)
- Brinker International Stock Hits New 52-Week High (EAT)
- Climbers and Dogs July 9, 2013 Midday Analytics Report
- Pre-Market Primer: Barnes & Noble, Inc. CEO Quits; Obama Now Less Optimistic on Economy
- Climbers and Dogs July 8, 2013 Daily Close Analytics Report
- Widows And Orphans Midday Report (7/8/13)
- Western Digital Reaches New 52-Week High (WDC)
- Climbers and Dogs July 8, 2013 Midday Analytics Report
Disclosure: I am long MMM, AAPL, MT, BRK.B, BKCC, CAT, CTB, DHY, CSX, CYS, DD, EXG, EFC, GRMN, GE, HLF, JPM, KCAP, KKR, LMT, LO, MGA, MSFT, NAT, OZM, PBI, PSEC, GOLD, RSO, SI, SKM, SLRC, SCCO, SXL, TMO, TOT, TWO, VZ, V, VOD, WAC, XIN, ZTR.
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