TOP NEWS
MARKET CURRENTS
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3:56 PM E.ON (EONGY.PK) confirms the sale of its natural gas transmission grid to a consortium led by Macquarie (MQBKY.PK) for €3.2B ($4.07B). E.ON's sale of Open Grid Europe will help the German utility reduce debt amid a weak domestic electricity market; the Australian bank will gain a network that accounts for ~70% of Germany's total annual shipping volume. Comment! [Energy, Global & FX, M&A]
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3:52 PM CVD Equipment (CVV -9.3%) gets hit hard after coming up short on its Q1 earnings late yesterday. The company reported an EPS of $0.12 per share, on revenues of $7.1M. Street estimates had its EPS pegged at $0.10 on revenues of $7.3M. Separately, Renaissance Technologies also reports in its 13-F filing it's liquidated the stock from its portfolio. Comment! [Earnings]
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3:46 PM Einhorn goes Jim Chanos on China, saying the country views Western investors as marks. It's infrastructure is overbuilt, the roads are empty, the houses unsold. Other than owning U.S. companies that may sell there, he's staying out (h/t Josh Brown). More from Einhorn. 1 Comment [Global & FX]
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3:42 PM Herbalife (HLF +8.9%) soars as the company's name has not (yet) been uttered by David Einhorn at Ira Sohn. More from Einhorn. Comment! [On the Move]
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3:41 PM Reports of server connectivity problems for Activision's (ATVI -3%) just-released Diablo 3 are taking a chunk out of shares. According to PC Magazine, ATVI took down the game's servers yesterday at "10:22 a.m. PT for an hour, then from 11:30 a.m. to 1:30 p.m., then from 2:15 p.m. PT until 3:30 p.m." This, after ATVI had spent over a decade developing the well-received game. Comment! [Tech, On the Move]
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3:38 PM Martin Marietta (MLM -10.6%) plunges as it gets the David Einhorn treatment at Ira Sohn. Snippets: MLM's CEO is a megalomaniac; the company is overvalued and benefited from a one-time stimulus. Ouch. Vulcan Materials (VMC -6.1%) 1 Comment [Quick Ideas]
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3:32 PM More from Gundlach at Ira Sohn: He suggests another contrarian pairs trade - Long Spain (EWP), short SPY. One he mentioned a few weeks ago - long natural gas, short Apple is performing famously well. Believing the Fed isn't raising rates anytime soon, he suggests a leveraged long position in Libor. Comment! [Quick Ideas]
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3:27 PM J.P. Morgan's Chris Blansett chops KLA-Tencor (KLAC -4.7%), Lam Research (LRCX -4.5%) and Novellus (NVLS -4.4%) to Underweight, predicting a "downtick" in capital expenditures by chip foundries in H2 of this year, and that capex in the memory and logic sectors of the business will be lower than many investors expect. Comment! [Tech, Quick Ideas, On the Move]
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3:23 PM "The buildup of debt worldwide took place over years - now the market has decided this is a problem in real-time," says Jeff Gundlach at the Ira Sohn conference. Deficits DO matter, he continues, and are now causing social unrest in Europe. "Nothing like a hot summer when 1/3 of the under-25 crowd have nothing to do but throw Molotov cocktails." 1 Comment
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3:19 PM Coty has selected underwriters for a possible IPO this summer in an offering that would value the company at $6B-$7B, according to CNBC. The news could dampen the spirits of those calling Coty's withdrawal of its bid for Avon (AVP -0.2%) a negotiating tactic. Comment! [M&A, Consumer, Global & FX]
STOCKTALKS
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ANALYSIS FOR WEDNESDAY, MAY 16, 3:55PM ET
- Taking Advantage Of Chesapeake's Woes by Tedra DeSue
- How Much Money Does It Take To Make Money? by George Acs
- India: Cheaper And Safer Than China, Russia by Stocks & Shares
- Go Long Bank Of America For The Risk / Reward
- How Low Interest Rates Impact Retirement Plans
- Sell In May: A Strategy Worth 33% A Year Since 2002
- Retail REITs Are Risk-Aligned, Investors Are Primed
- Do Lower Risk Stocks Outperform?
- Some Additional Perspective On Europe
- Amazon: More Problems Than We Thought?
PORTFOLIO
| Symbol | Price | Chg | % Chg |
|---|
Latest Portfolio Headlines
LATEST ARTICLES
- Is There A Sell Off Coming For The Yen? by Ralph Shell • Comment!
- Oracle Of Omaha Makes Investment In General Motors by David Silver • Comment!
- 3 New Ways Amazon Is Widening Its Moat by Stock Croc • Comment!
- Starbucks: Time To Buy? by Aaron Murdock • Comment!
- 3 Undervalued Financial Stocks With Strong Dividends And Dividend Growth by The Independent Investor • Comment!
- 5 Splendid Dividend Plays To Consider by Sol Palha • 1 Comment
- Recent History Shows Apple Stock Performance Usually Worst In Q2 by Jefferson Starship • 1 Comment
- AngloGold Ashanti Could Jump 20% In 2013 by Mel Daris • 1 Comment
- Coca Cola 1 Of 5 Dividend Picks by Sol Palha • Comment!
- 3 New Reasons To Buy BP At $38 by Vatalyst • 3 Comments
- Baytex Energy For Oil Income by Jeff B • Comment!
- 6 High Yield Dividend Stocks With Minimal Debt Ratios by ZetaKap • Comment!
- Dividend Focus: Hidden Treasures In Waste Management by Dividendinvestr • Comment!
- VIX - Options Volatility Sonar: Wednesday Recap by Erick McKitterick • 1 Comment
- Chinese Economy: A Hidden Info Time Bomb? by Shaun Connell • Comment!
NEW ON NEGLECTED STOCKS
- Baytex Energy For Oil Income by Jeff B • Comment!
- General Dynamics Seems Undervalued By Up To 26% by Vytautas Drumelis • Comment!
- Southern Copper Corporation: 50% Upside Potential by Efsinvestment • Comment!
- Aecom Technology Corp. Is Bargain Priced by Contrary Wise • Comment!
- Growth Spotlight: MDU Resources by Roger S. Conrad • 2 Comments
- Sino-Global Shipping: A Potential Short-Term Double by Kinetic Investments • 1 Comment
- Analyst Upgrade Could Boost This Beaten Down Energy Concern by Bret Jensen • 1 Comment
- Short-Maturity ETFs Eye Money Fund Reform Gridlock by Tom Lydon • Comment!
- Penn National Gaming: Recent Acquisition Looks Promising by John R. Conway • 1 Comment
- Fracking Equals Growth And Income by Michael Shulman • 3 Comments
- Opportunity Looms In Africa's Biggest Fertilizer Maker by Emerging Money • Comment!
- Earnings Preview: Urban Outfitters by Joseph Poma • Comment!
- Incyte's Potential Blockbuster Pipeline Asset Makes It An Attractive Takeover Target by M. E. Garza • 2 Comments
- CSX, Union Pacific Stocks Looking Hot, More Undervalued Than Kansas City by Takeover Analyst • 1 Comment
MACRO VIEW
- Is There A Sell Off Coming For The Yen? by Ralph Shell • Comment!
- Chinese Economy: A Hidden Info Time Bomb? by Shaun Connell • Comment!
- The Rise Of Dependency And The Hidden Depression by Lance Roberts • 1 Comment
- A Classic Misunderstanding Of Gold, The Correction And Solution by Cliff Wachtel • 4 Comments
- After Record High Ending Stocks, Global Wheat Production To Decline In 2012/13 by The Mays Report • 2 Comments
- Uncertainty Abounds - Markets Have Taken Note by Chris Ciovacco • Comment!
INVESTING FOR INCOME
- Baytex Energy For Oil Income by Jeff B • Comment!
- How Long Will Double-Digit Dividends Remain At Annaly Capital Management? by John Mylant • 2 Comments
- A Low-Risk Naked Put Strategy For Freeport-McMoRan by Sol Palha • 2 Comments
- How Much Money Does It Take To Make Money? by George Acs • 12 Comments
- 4 Well-Positioned New York-Based REITs Yielding Over 12% by Matt Schilling • Comment!
- McDonald's 1 Of 5 Dividend Candidates To Consider by Sol Palha • Comment!
ETFs & PORTFOLIO STRATEGY
- ETF Midweek Peek: A Dangerous Market For Everybody by David Fry • Comment!
- Are Active ETFs Less Volatile Than Index Funds? by Tom Lydon • Comment!
- PIMCO Total Return: ETF Or Mutual Fund? by Tom Lydon • Comment!
- Short-Maturity ETFs Eye Money Fund Reform Gridlock by Tom Lydon • Comment!
- The Powerhouse Of New Economic Growth: Guggenheim BRIC ETF by David Fry • Comment!
- Top 10 Technology ETFs by David Fry • Comment!
LONG & SHORT IDEAS
- Oracle Of Omaha Makes Investment In General Motors by David Silver • Comment!
- 3 New Ways Amazon Is Widening Its Moat by Stock Croc • Comment!
- Recent History Shows Apple Stock Performance Usually Worst In Q2 by Jefferson Starship • 1 Comment
- AngloGold Ashanti Could Jump 20% In 2013 by Mel Daris • 1 Comment
- 3 New Reasons To Buy BP At $38 by Vatalyst • 3 Comments
- VIX - Options Volatility Sonar: Wednesday Recap by Erick McKitterick • 1 Comment
