Widows And Orphans Midday Report (7/25/13)
Widows&Orphans's Blog
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| Symbol | Company Name | Price | Price Chg. | Price % Chg. | Volume (000) | Volume % Chg. |
| V | Visa Inc Cl A | $195.60 | 8.85 | 5% | 2,473 | 52% |
| SKM | S K Telecom Co Ltd Ads | $22.02 | 0.22 | 1% | 403 | -54% |
| WAC | Walter Investment Mgmt | $38.34 | 0.35 | 1% | 351 | -13% |
| BRKB | Berkshire Hathaway Cl B | $117.28 | 0.82 | 1% | 1,296 | -39% |
| GRMN | Garmin Ltd | $37.15 | 0.24 | 1% | 537 | -2% |
| VZ | Verizon Communications | $50.68 | 0.30 | 1% | 3,122 | -50% |
| GOLD | Randgold Resources Adr | $72.13 | 0.40 | 1% | 590 | 11% |
| PSEC | Prospect Capital Corp | $11.02 | 0.06 | 1% | 1,585 | 2% |
| LO | Lorillard Inc | $44.60 | 0.19 | 0% | 2,306 | 24% |
| DD | Dupont De Nemours & Co | $57.61 | 0.23 | 0% | 1,918 | -37% |
| VOD | Vodafone Group Plc Adr | $29.71 | 0.11 | 0% | 3,499 | -22% |
| DHY | Credit Suisse Hi Yld Bd | $3.08 | 0.01 | 0% | 209 | -40% |
| MT | Arcelor Mittal Cl A | $12.93 | 0.04 | 0% | 2,034 | -35% |
| RSO | Resource Capital Corp | $6.49 | 0.02 | 0% | 400 | -35% |
| MGA | Magna Intl Inc | $75.82 | 0.22 | 0% | 278 | -25% |
| OZM | Och-Ziff Cap Mgmt Cl A | $11.22 | 0.03 | 0% | 172 | -68% |
| MMM | Three M Company | $116.59 | 0.26 | 0% | 2,070 | 51% |
| CSX | C S X Corp | $24.99 | 0.05 | 0% | 2,328 | -39% |
| TWO | Two Harbors Investment | $10.00 | 0.02 | 0% | 2,378 | -40% |
| BKCC | Blackrock Kelso Cap Corp | $10.08 | 0.02 | 0% | 332 | 16% |
| PBI | Pitney-Bowes Inc | $14.56 | 0.02 | 0% | 1,481 | -38% |
| LMT | Lockheed Martin Corp | $119.19 | 0.07 | 0% | 1,424 | 48% |
| TMO | Thermo Fisher Scientific | $90.65 | 0.04 | 0% | 732 | -42% |
| EFC | Ellington Financial | $22.81 | -0.01 | 0% | 89 | -19% |
| GE | General Electric Co | $24.59 | -0.03 | 0% | 13,368 | -38% |
| TOT | Total S A Adr | $52.88 | -0.09 | 0% | 609 | -12% |
| XIN | Xinyuan Real Estate Ads | $5.10 | -0.01 | 0% | 198 | 8% |
| EXG | Eaton V Tx-Mgd Gl Div Eq | $9.60 | -0.02 | 0% | 357 | -41% |
| AAPL | Apple Inc | $439.53 | -0.98 | 0% | 5,343 | -21% |
| CTB | Cooper Tire & Rubber Co | $33.46 | -0.09 | 0% | 407 | -67% |
| SXL | Sunoco Logistics Ptnr Lp | $61.04 | -0.16 | 0% | 240 | 109% |
| ZTR | Zweig Total Return Fund | $13.13 | -0.05 | 0% | 25 | -41% |
| KCAP | K C A P Financial Inc | $10.67 | -0.08 | -1% | 127 | -28% |
| JPM | J P Morgan Chase & Co | $56.15 | -0.48 | -1% | 6,776 | -43% |
| SCCO | Southern Copper Corp | $27.72 | -0.24 | -1% | 738 | -23% |
| NAT | Nordic Amer Tanker Ltd | $10.15 | -0.09 | -1% | 881 | 88% |
| CYS | C Y S Investments Inc | $8.31 | -0.09 | -1% | 1,075 | -42% |
| HLF | Herbalife Ltd | $57.38 | -0.68 | -1% | 1,421 | 1% |
| SLRC | Solar Capital Ltd | $22.41 | -0.40 | -2% | 653 | 248% |
| MSFT | Microsoft Corp | $31.38 | -0.58 | -2% | 36,324 | 38% |
| CAT | Caterpillar Inc | $81.89 | -1.55 | -2% | 6,080 | 89% |
| KKR | K K R & Co Lp | $20.10 | -0.56 | -3% | 1,238 | -2% |
| SI | Siemens A G Adr | $104.12 | -6.06 | -6% | 984 | 354% |
| Pretty Girls and Railroads | +1.11% | |||||
| Climbers and Dogs | +0.31% | |||||
| Widows and Orphans | -0.12% | |||||
| Total | +0.45% |
- VZ:
Verizon Presents FiOS Quantum Internet Speeds With Southern California Flair - AAPL:
Apple's (AAPL -0.5%) iPad shipments are expected to drop to just 10-12M units in Q3 from 14.6M in Q2 (and 19,5M in Q1), according to Digitimes, citing upstream supply chain sources. In addition to seasonal issues, there's market share, and the iPad's is estimated to have dropped to 30-35% in Q2 vs. about 40% in Q1. - MMM:
3M Co (MMM) CEO Discusses Q2 2013 Results - Earnings Call Transcript - LMT:
Lockheed Martin's Sniper Advanced Targeting Pod Achieves Operational Flight Status On U.S. Air Force B-52 Bombers - CSX:
Florida's Port of Tampa reopens after a train derailment early this morning causing ethanol to spill from at least three CSX (CSX -0.7%) freight cars. Nearly all ethanol in the U.S. is transported by rail, barge or truck; ironically, the only operating ethanol pipeline in the U.S. carries the fuel from Tampa to Orlando. - CAT:
Commodities Today: Oil Patch Update And Coal Investors Surprised - AAPL:
What If The Dividend Payout Ratio Was Bogus? How About Using Free Cash Flow? - AAPL, TOT:
3 Investment Strategies For A European Rebound - VZ:
Miami's First Telemedicine-Enabled Mobile Medical Clinic to Make a Difference for Underserved Local Children - LMT:
South Korea is set to hold a new round of bidding for a $7.43B effort to acquire 60 next generation fighter jets, Reuters says. Previous rounds (55 of them) were scuttled when Lockheed Martin (LMT -0.6%), Boeing (BA -0.6%), and EADS (EADSF.PK -0.9%) all failed to submit bids within the budget. - BRK.B, MSFT:
5 Stocks Star Manager Sold: Why He's 29% Cash - CAT:
BMO throws in the towel on its Caterpillar (CAT -1.2%) buy, downgrading to Hold with price target reduced to $86 from $96 following yesterday's earnings. "Much of Caterpillar's end market exposure is to cycles that have passed their peaks," says the team, sounding like it's bought Jim Chanos' argument. - HLF:
At The Poker Table With Icahn And Dell, Playing For High Stakes - LMT, LO:
Positive Earnings Season Is The Next Catalyst For DVY - CAT:
Why Caterpillar's Case For Its Stock Yesterday Appeared Unpersuasive - CYS:
Using CYS's Report To Predict Annaly Capital's And American Capital Agency's Performance - SI:
Premarket gainers: FB +31%. BIDU +18%. TQNT +14%. TRIP +14%. LOGI +13%. OKE +10%. MEET +9%. CDTI +9%. BSX +9%. IMAX +8%. IMAX +7%. SPR +7%. FFIV +7%. UA +7%. YNDX +6%. ZNGA +6%. RENN +5%. Losers: SQNM -36%. CROX -24%. PHM -7%. SI -7%. WDC -5%. - MMM:
3M Co (MMM) Management Discusses Q2 2013 Results (Webcast) - TOT:
Russia's OAO Gazprom Neft (OGZPY.PK) will form a 50/50 JV with France's Total (TOT) to produce and sell modified bitumen and bitumen emulsions on the Russian market. The JV will build a special production facility at Gazprom Neft's Moscow oil refinery with a capacity of 60K metric tons of polymer-modified bitumens and 7K of bitumen emulsions per year. - JPM:
'Too Big To Fail' Banks Defend Commodity Manipulation Accusations And Carry On - CAT:
Caterpillar - Little Appeal On Valuation And Leverage Concerns - SI:
Siemens (SI) tumbles 4.7% premarket after saying it doesn't expect to hit its 12% profit margin target by fiscal 2014 due to "lower market expectations." FQ3 earnings are due on August 1. (PR) - MMM:
More on 3M's (MMM) Q2: Sales growth was strongest in 3M's Health Care segment, while Electronics and Energy sales declined compared to last year. The company reiterated FY13 guidance and raised its share buyback outlook to $3.5B-$4.5B, up from a prior estimate of $2B-$3B. MMM +0.1% premarket. (PR) - MMM:
3M (MMM): Q2 EPS of $1.71 in-line. Revenue of $7.75B (+2.9% Y/Y) misses by $0.02B. (PR) - MMM:
3M Reports Record Second-Quarter Results; Company Posts Sales of $7.8 Billion and Earnings per Share of $1.71 - KKR:
Looking to build its real estate investment business in western Europe, KKR hires Martin Moore - the former head of Prudential's M&G Real Estate unit - as a senior adviser. The P-E firm is raising its first real estate fund and just closed its initial European property purchase - 430K square feet of U.K. retail warehouses. - LO:
Lorillard (LO): Q2 EPS of $0.81 beats by $0.01. Revenue of $1.80B (+4.2% Y/Y) beats by $0.52B. (PR) - LO:
Lorillard, Inc. Reports Second Quarter Results - V:
Wall Street Breakfast: Must-Know News - AAPL, CAT:
Cramer's Mad Money - Is Apple Irrelevant? (7/24/13) - KKR:
Cramer's Lightning Round - Take Smithfield Foods Off The Table (7/24/13) - LO, MMM:
Notable earnings before Thursday's open: ABB, ACT, AEP, AIXG, ALK, ALKS, ARG, ASH , ASPS, BC, BG, BIIB, BLL, BMS,BMY, BSX, BWA, CAB, CAM, CCE, CELG, CFX , CL, CMS, CNX, COR, CPN, CRI,CRR, CS, CHS, DAN, DFT, DHI, DLX, DNKN , DO, DOW, DST, EQT, ESI, FAF,FLIR, GG, GM, GNC, GPK, GRA, HNT, HOG , HOT, HSY, IDCC, IMAX, IP, JAH,JNS, KEM, KMT, LAZ, LL, LM, LO, LUV , MDP, MDSO, MGI, MHFI, MJN, MMM,NBL, NMM, NXTM, ODFL, ORI, PACR, PCP, PDS , PHM, PNK, POT, PTEN, QSII, RCL,RDWR, RS, RTN, RYN, SIRI,SLAB, STC, STRA, SUI, TKR, UA, UFS, USG , UTHR, VCI, VDSI, VLY, WAB, WCC,XRX, YNDX, ZMH - V:
Visa Inc (V) CEO Discusses F3Q 2013 Results - Earnings Call Transcript - LO:
Notable earnings before Thursday's open: ABB, ACT, AEP, AIXG, ALK, ALKS, ARG, ASH , ASPS, BC, BG, BIIB, BLL, BMS,BMY, BSX, BWA, CAB, CAM, CCE, CELG, CFX , CL, CMS, CNX, COR, CPN, CRI,CRR, CS, CHS, DAN, DFT, DHI, DLX, DNKN , DO, DOW, DST, EQT, ESI, FAF,FLIR, GG, GM, GNC, GPK, GRA, HNT, HOG , HOT, HSY, IDCC, IMAX, IP, JAH,JNS, KEM, KMT, LAZ, LL, LM, LO, LUV , MDP, MDSO, MGI, MHFI, MJN, MMM,NBL, NMM, NXTM, ODFL, ORI, PACR, PCP, PDS , PHM, PNK, POT, PTEN, QSII, RCL,RDWR, RS, RTN, RYN, SIRI,SLAB, STC, STRA, SUI, TKR, UA, UFS, USG , UTHR, VCI, VDSI, VLY, WAB, WCC,XRX, YNDX, ZMH - SXL:
Phillips 66 Partners Offers Ground Floor Opportunity For MLP Dividend Growth - V:
Visa Inc (V) Management Discusses Q3 2013 Results (Webcast) - AAPL, MSFT:
Nokia Lumia 1020: Much Ado About Nothing - V:
More on Visa (V) FQ3 earnings: Net operating revenue of $3B up 17% Y/Y. Payments volume growth of 13% to $1.1T. Total processed transactions of 15B, up 14%. Service revenue of $1.3B up 7%. Data processing revenue of $1.2B up 15%. International transaction revenue of $854M up 14%. Operating expenses of $1.2B up 9%. 6M shares repurchased leaving $61M in remaining funds under existing program. New buyback authorization of $1.5B is announced. Fiscal 2013 revenue growth guidance of 13%; EPS guidance in the low twenties. Shares +2.6% AH. CC at 5 ET. (PR) - AAPL:
Apple Inc.'s Long-Term P/E Ratio - V:
Visa (V): FQ3 EPS of $1.88 beats by $0.07. Revenue of $3B beats by $0.11B. Shares +1.8% AH. (PR) - V:
Visa Inc. Reports Fiscal Third Quarter 2013 Net Income of $1.2 billion or $1.88 per diluted share and Authorizes New $1.5 Billion Share Repurchase Program - LMT:
What sequester? Handily beating the S&P 500 this year are two aerospace and defense ETFs, ITA and PPA. Both have added to gains the last few sessions as top holdings Boeing (BA), Lockheed Martin (LMT), Northrop Grumman (NOC), and General Dynamics (GD) all posted earnings beats even as defense spending has been slashed. International and commercial orders are helping, but so are long-term contracts. "We are not out of the woods at all," says Boeing CEO Jim McNerney on the earnings call (transcript). "We are entering the woods." - JPM:
Bank Chart Of The Week: How Important Is Fee Income To Banks?
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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