motrmech@metrocast.netis...(put something here)
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More on the NEW owners.
Company Information
Banco Bilbao Vizcaya Argentaria SA (BBVA) is a diversified international financial group. Its business is structured in four areas: Spain and Portugal area, comprising retail banking, business banking, personal banking and all the operations with small and medium enterprises (SMEs), consumer finance, insurance and BBVA Portugal; the Global Business area, which includes all the customer services in Europe, America and Asia, as well as real estate projects and investment banking; the Mexico and South America areas, covering the activities of the Group's subsidiaries in this region, including pension-fund managers, insurance companies and international private banking business, and the United States (USA) business area, consisting of five divisions: Banking business in Texas, BBVA Bancomer USA, BBVA Puerto Rico, Bancomer Transfer Services (BTS) and BBVA Finanzia USA.
Nice week, a .36 jump for the week and no posts is anyone else following this ???
Nice day and super week, i was screaming at the screen when it headed for .78!!!
Great to see the move, been sitting on this one since this winter and looking for that elusive $1 target.
WOW, AH prices were super, hope everyone got in this week before the spike next week this will be fun.
GLTA
This is a great price now, it will skyrocket in 2013 after the plant is built and they start manufacturing product in bulk, kudos to the company for lining up potential contracts ahead of time, looks like a great sucesss story.
OK, i was looking at the current news on the wire:
NexMed Receives Nasdaq Delisting Warning Letter
NexMed, Inc. (Nasdaq: NEXM), a developer of innovative topical products based on the NexACT® technology, today announced that it has received a notice from Nasdaq indicating that it does not comply with the minimum $2.5 million in stockholders’ equity requirement for continued listing on the Nasdaq Capital Market set forth in Marketplace Rule 4310(c)(3). As of June 30, 2009, the date of the Company’s most recently filed financial statements, the Company’s total stockholders’ equity was $1,700,553.
Nasdaq will provide written notice that the Company’s common stock will be delisted from the Nasdaq National Market at the opening of business on August 27, 2009, unless the Company submits a specific plan to Nasdaq to achieve and sustain compliance with Marketplace Rule 4310(c)(3), including the time frame for completion of the plan, and the plan is reviewed and accepted by Nasdaq. The Company intends to submit its plan to achieve and sustain compliance to Nasdaq before August 27, 2009. If the plan is acceptable to Nasdaq then the Company would be granted an extension of up to 105 calendar days to evidence compliance with Marketplace Rule 4310(c)(3).
Mark Westgate, NexMed’s Chief Financial Officer stated, “In our response to Nasdaq, we will request that Nasdaq take note of our continuing restructuring and cost containment program begun in December 2008 as well as potential revenue opportunities from the licensing of our products under development.”
The Company remains on notice for maintaining the minimum $1 bid requirement as set forth in Marketplace Rule 4310(c)(8)(D). However, because Nasdaq had suspended enforcement of this requirement until August 3, 2009, as of its most recent announcement on July 13, 2009, the Company now has until January 25, 2010 to meet that requirement.
There can be no assurance that Nasdaq’s Listing Qualifications Panel will decide to allow the Company to remain listed.
I feel a .75 or better close for Friday any takers??
GL
Not sure, the 27th of August is the date of potential OTC which never seems to go well.
Good Luck
I hear that, i am looking at a buy in @ 1.50 or so Friday or Monday, yea seems extreme after hours are selling shares @ 1.45 Thursday night.
Good luck to all..
WOW, Big buy volume at the very end of the session.
any thoughts what Thursday will bring??
This could easily be a double in the NEAR term!!!!
ARE you KIDDING SELL AND RUN!!!
Nice post East, also the added market that will come with the new vechicle sales, it is a real chance that the next quarter results will show a interesting bottom line, im still in.
GL
What will the open for Monday look like .15-.16 guessing here looking to figure this one out.
This might help,,,
Published: August 16, 2009
BB&T Corp. has a well-earned reputation as a conservative, methodical financial institution.
But bank officials showed last week that they know how to seize an opportunity with its whirlwind takeover of a collapsing Colonial BancGroup Inc.
Less than a week after being approached by the Federal Deposit Insurance Corp. to bid on Colonial, BB&T emerged as the winner of the bank's $20 billion in deposits.
Once it got the FDIC's approval late Thursday night, BB&T set into motion at least 425 employees -- enough to put a company face at each of Colonial's 354 branches in five states by the time the FDIC approval was announced at 6 p.m. Friday.
"It was a logistics nightmare, but they did a wonderful job mobilizing those employees quickly once we got the final word," said Daryl Bible, the chief financial officer of BB&T.
"We've got a lot of people who have gotten by on two hours of sleep for several nights. They're out there educating the Colonial people and their customers about BB&T to get a start on doing the best integration we've ever had," Bible said.
The deal is by far the biggest ever for BB&T. It is expected to move to ninth from 12th in U.S. market share for total assets.
Combining the banks' deposits, BB&T becomes the No. 4 bank in Alabama -- having just a token presence before -- and No. 5 in Florida after being 17th. It also tightens its grip on No. 4 in Georgia and gains branches in Nevada and Texas.
There is likely to be little local work-force impact from the takeover, although the bank will send local employees to some branches for an extended stay to bring them up to BB&T sales and policy standards.
The FDIC and BB&T said that the bank will buy about $22 billion of Colonial's assets, with the FDIC retaining the remaining $3 billion in assets for later disposition. The agency entered into a loss-share transaction with BB&T on about $15 billion of Colonial Bank's assets.
Bible said that BB&T already had "an institutional knowledge" of Colonial from competing against it in Georgia and Florida.
But it used the time from the FDIC's heads-up to conduct its own due diligence of the bank.
"While the whole process went quickly once we got the call from the government, the price that we paid for this transaction is a price we felt very comfortable in agreeing to," Bible said. "We understand it was a very competitive process, and the difference between first and second was very close."
When asked about how BB&T will reassure shareholders and employees about taking over Colonial -- especially when it already reduced its dividend from 47 cents to 15 cents in May to save capital -- Bible said that "this is a very low-risk transaction for us."
"We are taking very minimal asset risk on this deal with the government's lost-share arrangement.
"Strategically, it is a very good fit for us all the way around. This deal gives us the huge depth and breadth to be able to operate our community-banking model and large commercial and corporate banking in Florida, and gets us into Alabama in size and stature."
Bible said that BB&T expects to take at least 12 months to complete the system conversion of the Colonial branches and at least 24 months to integrate BB&T's corporate culture, particularly in sales.
Kelly King, the chief executive of BB&T, said that the bank would create community-bank regions in Birmingham and Montgomery, as well as two in Florida.
Bible said he doesn't know how many of Colonial's more than 4,500 employees will be affected by the merger. BB&T has been focused on cutting costs for several years, including eliminating vacant and filled jobs locally in recent months.
"We'll get to know them, what they are good at," Bible said.
Bob Riley, the governor of Alabama, told The Montgomery Advertiser that he was concerned about the possible loss of 1,000 headquarters jobs there. "Colonial has been a mainstay for Montgomery," Riley said. "We have a lot of people who depend on it."
Michael Rose, an analyst with Raymond James Securities, said that there are just 40 of Colonial's 355 branches within a mile of a BB&T branch, which could contribute to lower employee turnover at the branch level than in typical bank deals. BB&T's largest deal came in 2003 when it spent $3.4 billion to buy First Virginia Banks Inc.
That deal, along with several smaller deals at the time, caused BB&T so much integration "indigestion," according to John Allison, its chairman and former chief executive, that it entered a bank-buying moratorium for 2½ years and has bought just four since then.
"Cultural changes can be a major issue for an acquiring bank," said Bart Narter, an analyst at Celent, a financial-research and consulting company based in Boston.
"Depending on how BB&T takes over, and it typically has a learn-or-leave approach, you could see an us vs. them attitude develop among some Colonial employees.
"On the other hand, BB&T is trying to reduce its risk and expenses as much as possible."
Bible said that BB&T will take its time deciding whether to keep Colonial's 22 branches each in Nevada and Texas or sell them to help reduce the cost of the takeover.
Tony Plath, a finance professor at UNC Charlotte, predicts that those branches will be sold in the next month to another bank with a Western geographic footprint.
Bible said that the bank would be "open-minded" about the troubled warehouse financing division of Colonial that contributed significantly to its collapse. Warehouse financing is secured by a company's balance sheet assets, such as inventory, receivables, or collateral other than real estate.
"We aren't going to stray from our conservative underwriting culture," Bible said. "We're going to review their mortgage warehouse lending business, understand it.
"If we like the business, and we think the risk-return is acceptable, we'll stay in the business. If we don't think it fits within our structure, we'll exit the business."
Plath said he expects BB&T will exit warehouse lending as "too much risk for BB&T's culture."
Plath said he expects that the Colonial customer turnover -- typically about 10 percent in a major bank deal -- will be "quite low, at least a first."
"Anyone that's hung in with the bank until now is probably a really committed customer, since most of the people who don't have a solid reason to stay with the bank have already headed for the exits," Plath said. "For all Colonial's troubles, I think they do a good job at serving retail customers in their branch network."
Arnold Danielson, the chairman of Danielson Associates of Bethesda, Md., said that the deal strengthens BB&T's stature in the Southeast because it is likely that either Regions Financial Corp. or SunTrust Banks Inc. will eventually be bought by JPMorgan Chase & Co.
"That would leave BB&T as the primary local bank in the South, or at a minimum, sharing that role with SunTrust," Danielson said. "Combine this with the Wachovia sale to Wells Fargo, BB&T looks to be coming out of the recession much stronger than when it went in."
BB&T has a loss-sharing agreement and Wachovia didn't with Golden West. What we need are jobs. Most cities with a bank the size of BB&T have a few thousand bank jobs in new skyscrapers downtown and other employers moving to the city, to work with the bank. If this merger can bring new jobs and downtown investment to Winston-Salem, I welcome it. A company like BB&T could transform this city, by growing and creating jobs downtown, as they grow into new markets. Look at Charlotte and Raleigh, where one or two companies create hundreds or thousands of jobs downtown and the city is transformed. I would like to see BB&T keep the Texas branches. Texas is fast growing and weathering the recession better than most places. It's the center of the nation's energy industry and a good place to expand a bank into.
Delisting.... OTC here we come.
Nice target will we see it in the near 2010 or later??
Thoughts....
Whew!!! got out of this with one heck of a chunk, had a sell order for .0006 for the last 4 months!
Hope others got out on the jump too!!
Not sure if this means more flight revenue but it does involve Delta, good to see some airlines are adding flights.
Delta to Increase Service at La Guardia
JAMES BARRON
Published: August 12, 2009
Delta Air Lines and US Airways announced on Wednesday that they would swap a number of takeoff and landing slots at La Guardia Airport and Ronald Reagan National Airport in Washington.
La Guardia Airport (NYC)Delta said it would create a domestic hub at La Guardia, and some industry analysts said the deal would make Delta more of a powerhouse in New York and US Airways more of a powerhouse at Reagan.
Both airlines said they would continue their shuttle flights from La Guardia to Washington and Boston. But the shuttles would trade terminals at La Guardia once the deal is completed. The Delta shuttles, which now originate from the Marine Air Terminal at La Guardia, would move to the Delta terminal at the other end of the airport. US Airways would take over the Marine Air Terminal.
Delta, which currently has 16 gates at La Guardia handling 148 departures a day, said it would have 27 gates and 272 daily departures after the deal is completed. It said that it expected to double the number of destinations to which it flies from La Guardia and that it would add service to more than a dozen cities that US Airways has not served from La Guardia. Delta would not name the cities.
US Airways said it would operate up to 72 flights a day from La Guardia, about two-thirds fewer than it currently operates. It said that besides the shuttles, it would fly from La Guardia to two cities in North Carolina — Charlotte, one of its major hubs, and Wilmington — and two in Pennsylvania — Philadelphia, also a major hub, and Pittsburgh.
US Airways said that it would add 15 new destinations from Reagan National, including 8 that currently have no daily nonstop service from that airport.
The deal is structured in terms of slot pairs, which refer to one takeoff and one landing — in effect, a round-trip flight. US Airways would transfer 125 slot pairs at La Guardia to Delta, and Delta would turn over 42 slot pairs at Reagan Airport to US Airways. US Airways would also get Delta’s slots at airports in Tokyo and São Paulo, Brazil.
Delta said that it would fly jets in every La Guardia slot in which US Airways now flies smaller turboprop aircraft. A Delta senior vice president, Gail Grimmett, told Delta employees in a memo that the new arrangement would bring more than two million additional passengers a year to La Guardia without increasing the total number of takeoffs and landings, because Delta’s regional jets can carry more passengers than US Airways’ turboprops.
US Airways said it was discontinuing service to 26 destinations from La Guardia that have been served by US Airways Express. It said it would eliminate 300 jobs at its wholly owned regional carrier Piedmont as a result.
The airlines said the deal must be approved by the Justice Department, the Federal Aviation Administration and the federal Transportation Department.
“Delta has really stolen a march on the battle for New York,” said Robert W. Mann Jr., an airline industry analyst in Port Washington, N.Y. He predicted that Delta’s presence at La Guardia and at Kennedy Airport could eclipse Continental Airlines’ dominance of Newark Liberty International Airport.
The deal was hailed by Mayor Michael R. Bloomberg and Gov. David A. Paterson. Both noted that Delta planned to spend $40 million on construction at La Guardia, tying the US Airways terminal to the Delta terminal.
“This decision by Delta is a real vote of confidence in the future of our city,” the mayor said.
Volume seems heavy for premarket is that normal??
Big chunks @ .20 right at the 8 AM open premarket too!!!!
Got a feeling this will jump early, all the newswires are on this one for some reason.
Might put a buy in for .20 just for the fun of it..
Nice spike at the open on that news i hope.
Around the first of Sept, the info is on their website.
Hopefully the bid/ask starts low and not get ahead of itself, twice this week i have witnessed premarket charge out of the gate just to open lower @9:30, your right it will be fun to watch this next week!!!! Good Luck.
Me too look what happened to AIG, it went on the plus side after a while but it looked scary, i have lost my shirt on splits before like that and then your upside down sitting on a loss. Good Luck.
With a $1.28 close after hours it could go either way, earnings reports have been funny this quarter the share prices spike on news then slide back after a couple of days, remember to take profits GL.
Cogdell Spencer Inc Moves past $5 and outlook on the filings look good.
Getting ready for the proxy vote to see if the R/S gets approved.
Don,t feel alone i sold @ 3.75 at the end of the day, looks like another wait for the dip after this run GL.
Could it jump? hope so!!!!
Ok, fair earnings report, pretty HEAVY volume, what is up with this stock???
Jump in or not?? if they try to get the $$$ above a dollor will it work or is the R/S going to happen any way?
Thoughts....
Might be able to hold this @ .30-.40 for the next few days.
GLTA.
Nice run on low volume!!!!
Not sure it sounds a general contract, but a plus for the stock i hope.
New Contract worth $2.7 Million.
Kratos Defense & Security Solutions, Inc announced that its Public Safety and Security segment has won a five year follow-on contract at a Army base for video security system integration, maintenance, equipment and services valued at more than $2.7 million. Kratos' Public Safety and Security segment provides specialized expertise in the areas of physical integrated security and building automation, including access control, identity management, biometrics, surveillance, and perimeter protection.
News.
San Diego-based Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) has announced that its Civilian Services Education Group has been awarded a 36-month, $1.8 million contract to support the U.S. Department of Education's Office of Vocational and Adult Education.
The Division of Adult Education and Literacy sought a firm through the Multiple Award Task Order contract to implement a project called Supporting States' Development of Policies for Adult Basic Education to Postsecondary Education Transitions.
Kratos' civilian sector, partnered with Abt Associates and Maher and Maher, was awarded the contract.
This project will identify up to eight states that will receive technical assistance and coaching to support the creation, implementation and monitoring of state policies that strengthen the transition of adult learners from adult basic education classrooms into postsecondary education, employment and/or training.
Once the states are identified and recruited, teams will be brought together for a national institute to create action plans for the creation of new policies.
Kratos will also be responsible for identifying resources and tools that will further the states' work, monitoring the quality of technical assistance being delivered, managing the coaching cadre, developing a website for social networking and cross state collaboration, and disseminating the lessons learned from this investment
I hope so just bought 2K worth of shares last week, GOOD LUCK.