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We also expect that Wireless Age and Newlook will complete our previously announced restructuring of debt as well as a name change for Wireless Age.
This ties in with how Wireless Age will finance their stake in the project. As I've mentioned, it will be through stock of Newlook, that Wireless Age Communications, Inc. will controls following the "restructuring of debt".
Pursuant to the discussions, Newlook, subject to regulatory approval, will transfer approximately 30 million common shares of Wireless Age and 2 million common shares of Newlook to Wireless Age in exchange for debt reduction. Such shares of Wireless Age will be returned to treasury.
http://www.marketwire.com/press-release/Wireless-Age-Communications-Inc-PINK-SHEETS-WLSA-1016119.html
Even in the July 22nd release, it mentioned that newlook was funding the project.
That is incorrect. Europlasma is the key financing party, and shares of Newlook that Wireless Age controls will be used towards "funding the project" (in part).
newlook is still the controlling shareholder of WLSA at 55%.
Wireless Age Communications, Inc. announced that in forgiveness of debt, Newlook's stake in Wireless Age (in the form of restricted stock) would be cancelled, resulting in an issued and outstanding count of approx. 27,600,000. John Simmonds has made it clear that it is pending board approval and on his short "to do list".
That press release concerns Newlook, not Wireless Age.
The press release has not gone out just yet. I am not sure what you are referring to.
Several research firms spilling into the emerging renewable energy sector. One I came across on a wire, "marketresearch" offers their diagnostics on an in-depth analysis of the renewable energy policies across 30 major countries across the globe. It details the key policy instruments adopted by the national and state governments in these countries and analyzes the different forms of incentives and subsidies provided for the development of the renewable energy technologies. The report also provides state by state information for top 10 US states and province wise information for all major provinces in Canada.
http://www.marketwire.com/press-release/MarketresearchCom-1028809.html
An earlier one I had commented on, "researchandmarkets", specfically issued a report on plasma gasification technology and the companies involved. The key I had mentioned was Europlasma's listing among other companies.
Review Plasma-Gasification Technologies, Manufacturers, Market Opportunity, Technology Maturity, Failure Modes and Related Issues
DUBLIN, Ireland--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/reports/c90012) has announced the
addition of "Plasma-Gasification Technology and Industry Overview: A
Panel Discussion among Ten University Academics, Private Engineering
Analysts, National Laboratory Scientists & Technology Center Managers"
to their offering.
Deliverable: Transcript with key findings.
Study Description and Objectives:
-- To review the specific benefits and drawbacks of plasma
gasification.
-- To estimate the domestic and international market size and
opportunity for plasma gasification between new plants and
retrofits, and the power-generation market.
-- To determine if a specific type of power plant benefits most
from plasma-gasification technology.
-- To estimate is the expected payback period for
plasma-gasification technology, both as a retrofit and in
"greenfield" power plant applications.
-- To understand the legislative policies, regulations, and
emissions laws that pertain to plasma gasification's market
opportunity.
-- To investigate the permitting and construction timelines,
capital costs, and operating costs for implementation of
plasma-gasification plants.
-- To understand the primary purchasing decisions of plasma
gasification buyers....continued.
http://www.reuters.com/article/pressRelease/idUS22465+28-Apr-2008+BW20080428
Experiencing quite a bit of this, this morning...
We are experiencing some intermittent slowness are are investigating. Thanks for your patience.
WLSA ~ Wireless Age Communications, Inc.
Issued and Outstanding to be reduced to 27,600,000 according to an earlier release:
reducing the issued and outstanding from approximately 57.6 million to approximately 27.6 million.
http://www.marketwire.com/press-release/Wireless-Age-Communications-Inc-PINK-SHEETS-WLSA-1016119.html
Free Trading (float) shares are approx. 20,000,000 according to the CEO, John G. Simmonds.
Transfer Agency.
Corporate Stock Transfer
3200 Cherry Creek Drive South Suite 430
Denver, CO 80209
Phone: (303) 282-4800
Fax (303) 282-5800
http://www.corporatestock.com
Obama braces for 'vigorous' town hall health talk.
Ready for health care confrontation, Obama says 'sensible, reasoned' arguments will prevail
By Jennifer Loven, AP White House Correspondent
On Monday August 10, 2009, 8:36 pm EDT
GUADALAJARA, Mexico (AP) -- A day before facing a potentially boisterous town hall in New Hampshire, President Barack Obama praised the spirited debate over his health care plans on Monday and predicted "sensible and reasoned arguments" would ultimately prevail in Congress.
Obama plans to pivot his message somewhat on Tuesday, addressing people who already have insurance through their employers and highlighting how his proposals would affect them. The White House is retooling its message amid polling that shows Americans -- especially those who have coverage -- are skeptical of Democratic proposals to expand to cover many of the 50 million or more uninsured.
On Monday, in his first North American summit, Obama met with the leaders of Mexico and Canada, covering such shared hot topics as trade barriers, drug violence and the expected resurgence of swine flu. But questions about domestic policy -- Obama's drive for overhauls to U.S. health care and immigration policy -- followed him to Mexico and stole the biggest share of the hour the three leaders appeared together before reporters.
Concerns over Obama's health care reform proposal are heating up town hall meetings, chat rooms and radio shows in the U.S. -- driving his poll numbers down and threatening the future of his highest domestic priority. While Congress is in recess for the month of August, lawmakers are hearing from constituents worried about divisive issues such as the government's role in health care and the costs of an overhaul.
Republicans say the heated debate is a sign of widespread public dissatisfaction with Obama's ideas. But with some of the anxieties spilling into angry disruptions and even threats, Democrats have accused Republicans of orchestrating the events to sabotage legislation. In an article published Monday, House Speaker Nancy Pelosi and Majority Leader Steny Hoyer wrote: "Drowning out opposing views is simply un-American."
Obama stayed away from such provocative language.
"We are having a vigorous debate in the United States, and I think that's a healthy thing," he said, repeating that thought three times. But, he said, the dynamic will change once the recess ends and the lawmakers -- and the debate -- return to Washington.
"I suspect that once we get into the fall and people look at the actual legislation that's being proposed, that more sensible and reasoned arguments will emerge. And we're going to get this passed," he said.
Obama will face a town hall audience Tuesday in Portsmouth, N.H.
Foes of his plans have disrupted events with members of Congress, and the White House is bracing for such incidents on Tuesday, though Obama's town hall audiences have tended to be orderly and supportive. White House spokesman Bill Burton told reporters traveling back to the United States with Obama aboard Air Force One that there is plenty of emotion from both sides on the issue.
"Well, I think there's actually a pretty long tradition of people shouting at politicians in America," Burton said. "The president thinks that if people want to come and have a spirited debate about health care, a real vigorous conversation about it, that's a part of the American tradition."
Separately, the White House turned to the Internet on Monday to challenge what the administration contends are misconceptions about Democratic plans.
The government Web site takes on claims made by critics that the changes would result in rationing of health care, encourage euthanasia or endanger Medicare.
"Given a lot of the outrageous claims floating around, it's time to make sure everyone knows the facts about the security and stability you get with health insurance reform," said White House senior adviser David Axelrod.
Dynegy sells plants for $1 billion, 2Q loss widens.
Dynegy sells plants to LS Power for $1 billion, 2nd-quarter profit widens on prices, charge
By Mark Williams, AP Energy Writer
On Monday August 10, 2009, 5:19 pm EDT
COLUMBUS, Ohio (AP) -- Power provider Dynegy will sell eight plants plus another under development for about $1 billion in cash and $500 million in stock as the company attempts to bolster its finances and reduce debt.
Houston-based Dynegy reported Monday that its second-quarter loss widened by 27 percent as it wrote down the value of some of the plants it will sell to former development partner LS Power Associates and because of falling energy prices. The company said it will also slash expenses by $400 million to $450 million over the next four years.
Losses for the quarter ended June 30 totaled $345 million, or 41 cents per share, compared with $272 million, or 32 cents per share, in the year ago quarter. The year-ago loss was driven by mark-to-market losses of $481 million that reflect an updated estimate of what investments are worth based on current market values.
The second-quarter loss included a $405 million charge to write down the value of four plants, two of which will be sold to LS Power. Dynegy said it expects to record additional charges on the sale and a loss on the value of assets that currently are estimated at nearly $500 million.
Revenue rose 53 percent to $493 million from $322 million because of the year ago charge along with stronger production from its plants in the Midwest and Northeast. The company has strong operations in agribusiness and food processing, meaning it has avoided some of the declines seen by other power generators that serve the auto and steel industries.
Analysts surveyed by Thomson Reuters expect a loss of 4 cents per share. Such estimates typically exclude one-time charges.
The company, which had to lower its profit outlook several times as power prices fell this year, reaffirmed its latest projections of $680 million to $740 million in earnings before income taxes, depreciation and amortization. Including charges, the company expects to report a loss of $935 million to $975 million this year.
Because of charges associated with the deal from LS Power and its cost-saving programs, adjusted EBITDA will be $425 million to $550 million.
The company's prices for power generally are based on natural gas prices, which are down about 70 percent from a year ago.
Under the deal with LS Power, Dynegy will sell about a quarter of its generating capacity. LS Power also will receive $235 million in notes due in 2015. The deal is expected to close before the end of the year.
LS Power's remaining Class B shares of Dynegy will be converted into Class A shares representing about 15 percent of Dynegy. The Class B shares will be eliminated. The deal eliminates about 30 percent of Dynegy's shares.
Bruce Williamson, Dynegy's chairman, president and CEO, said the deal with LS Power will help the company reduce its near-term debt maturities and simplify the company's structure. The company has total debt of $5.1 billion.
"It was a long negotiation and we think that the package of assets that is leaving really leaves us still with a very strong, well positioned portfolio," Williamson told analysts on a conference call.
LS Power acquired its stake in Dynegy in 2006 when Dynegy spent $4.1 billion to buy LS Power's generating capacity. Dynegy also became 50-50 partners in building nine power plants already under development. The joint venture was dissolved this year because of constrained credit markets and economic uncertainty.
Three of the plants LS Power is buying were plants it had sold to Dynegy.
When the deal is done, Dynegy will have about 20 plants in seven states that will be more concentrated on its baseload coal and natural gas plants and less on plants used only at times of peak demand for power.
Year-to-date, Dynegy posted a loss of $680 million, or 81 cents per share, compared with a loss of $424 million, or 51 cents, a share, in the first half of 2008. Revenue so far this year has totaled $1.4 billion, up from $865 million in the first half of 2008.
Dynegy shares rose 30 cents, or 15.5 percent, to close at $2.23 Monday.
Earnings Schedule dated ~ 08/11/09 ~
Company Name Symbol Date Time Estimate YrAgo
Addvantage TechnologiesAEY 8/11 B n/a 0.06
Aeterna Zentaris Inc AEZS 8/11 B -0.23 -0.39
Aramark Corp RMK 8/11 B n/a n/a
Asat Hldgs Ltd ASTTY 8/11 B n/a -0.13
Bluephoenix Solutions LBPHX 8/11 B 0.24 0.16
Broadridge Finl SolutioBR 8/11 B 0.79 0.69
Cornerstone TherapeuticCRTXD 8/11 B 0.33 -1.26
Cpi Aerostructures Inc CVU 8/11 B 0.11 0.06
Decode Genetics Inc DCGN 8/11 B n/a -0.30
Dusa Pharmaceuticals InDUSA 8/11 B -0.06 -0.03
Emisphere Technologies EMIS 8/11 B n/a -0.25
Fossil Inc FOSL 8/11 B 0.20 0.36
Fuel-Tech N V FTEK 8/11 B -0.03 0.02
Geoeye Inc GEOY 8/11 B 0.39 0.12
Globaloptions Group IncGOPG 8/11 B -0.08 -0.20
Harbin Electric Inc HRBN 8/11 B 0.35 0.34
Intelligent Sys Corp NeINS 8/11 B n/a 0.34
Man Sang Hldgs Inc MHJ 8/11 B n/a 0.08
Microfluidics Intl CorpMFLU 8/11 B n/a -0.08
Oil Co Lukoil LUKOY 8/11 B n/a 4.92
Rand Logistics Inc RLOG 8/11 B 0.08 0.18
Top Image Systems Ltd TISA 8/11 B n/a -0.14
Wsp Holdings Limited WH 8/11 B 0.23 0.25
X-Rite Inc XRIT 8/11 B n/a -0.71
A D A M Inc ADAM 8/11 D 0.05 0.08
Administradora Fondos PPVD 8/11 D n/a n/a
Air Trans Hldgs Inc ATSG 8/11 D n/a -0.01
Ambassadors Intl Inc AMIE 8/11 D n/a -0.22
American Dairy Inc ADY 8/11 D 0.07 0.27
American Med Alert CorpAMAC 8/11 D n/a 0.05
American Spectrum RealtAQQ 8/11 D n/a n/a
Anthracite Cap Inc AHR 8/11 D 0.04 0.23
Appliance Recycling CtrARCI 8/11 D -0.02 0.18
Applied Matls Inc AMAT 8/11 D -0.08 0.14
Arca Biopharma Inc ABIO 8/11 D n/a 0.00
Aristotle Corp ARTL 8/11 D 0.23 0.25
Aurizon Mines Ltd AZK 8/11 D 0.08 0.04
Berkshire Hathaway Inc BRKA 8/11 D 1238.38 1465.00
Bitstream Inc BITS 8/11 D n/a 0.08
Callisto PharmaceuticalCLSP 8/11 D n/a -0.06
Centerline Holdings Co CLNH 8/11 D n/a -0.19
Chromcraft Revington InCRC 8/11 D n/a -1.32
Clean Diesel TechnologiCDTI 8/11 D n/a -0.26
Dendreon Corp DNDN 8/11 D -0.17 -0.18
Federal Agric Mtg Corp AGM 8/11 D n/a 0.70
Federal Home Ln Mtg CorFRE 8/11 D n/a -1.63
Feldman Mall Pptys Inc FMLPE 8/11 D -0.08 0.04
Fibernet Telecom Grp InFTGX 8/11 D -0.06 -0.09
Footstar Inc FTAR 8/11 D n/a n/a
Green Plains Renewable GPRED 8/11 D n/a 0.61
Gulf Resources Inc GFRE 8/11 D n/a 0.06
Harrington West Finl GrHWFG 8/11 D n/a -0.02
Hearusa Inc EAR 8/11 D -0.01 0.01
Heelys Inc HLYS 8/11 D -0.03 -0.01
Horne Intl Inc HNIN 8/11 D n/a n/a
Huron Consulting Group HURN 8/11 D 0.46 0.54
Imperial Oil Ltd IMO 8/11 D 0.38 1.11
India Fd Inc IFN 8/11 D n/a n/a
Inhibitex Inc INHX 8/11 D -0.10 -0.05
Interactive Sys WorldwiISWIE 8/11 D n/a -0.05
Itau Unibanco Banco MulITUB 8/11 D 0.24 0.42
Javelin PharmaceuticalsJAV 8/11 D -0.15 -0.16
Jazz Pharmaceuticals InJAZZ 8/11 D -0.33 -2.17
Mer Telemanagement SoluMTSL 8/11 D n/a -0.02
Ngp Cap Res Co NGPC 8/11 D 0.16 0.17
Oak Ridge Finl Svcs IncBKOR 8/11 D n/a 0.21
Origin Agritech LimitedSEED 8/11 D n/a -0.18
Photomedex Inc PHMDD 8/11 D -0.32 -0.21
Pointer Telocation Ltd PNTR 8/11 D n/a 0.17
Protalix BiotherapeuticPLX 8/11 D -0.08 -0.06
Pvf Capital Corp PVFC 8/11 D -0.86 -0.32
Rcm Technologies Inc RCMT 8/11 D 0.00 0.11
Rentech Inc RTK 8/11 D 0.08 -0.05
Rock Of Ages Corp ROAC 8/11 D n/a 0.10
Shengda Tech Inc SDTH 8/11 D 0.07 0.18
Southcoast Financial CoSOCB 8/11 D n/a 0.17
Southern Conn Bancorp ISSE 8/11 D n/a 0.03
Spark Networks Inc LOV 8/11 D n/a 0.09
Symmetricom Inc SYMM 8/11 D 0.09 0.05
Tefron Ltd TFRFF 8/11 D 0.00 -1.20
Tierone Corp TONE 8/11 D n/a -0.75
Tw Telecom Inc TWTC 8/11 D 0.03 0.00
Universal Power Group IUPG 8/11 D n/a 0.09
Vaalco Energy Inc EGY 8/11 D -0.12 0.22
Wilber Corp GIW 8/11 D 0.11 0.13
3sbio Inc SSRX 8/11 A 0.13 0.13
Arotech Corp ARTX 8/11 A n/a -0.15
Bob Evans Farms Inc BOBE 8/11 A 0.51 0.45
Bridgeline Software IncBLSW 8/11 A n/a 0.01
Celadon Group Inc CLDN 8/11 A 0.03 0.10
Clearwire Corp New CLWRD 8/11 A -0.39 -1.21
Cree Inc CREE 8/11 A 0.17 0.09
Energyconnect Group IncMICG 8/11 A n/a n/a
Euroseas Ltd ESEA 8/11 A 0.00 0.44
Hackett Group Inc HCKT 8/11 A 0.02 0.08
Learning Tree Intl Inc LTREE 8/11 A 0.08 0.23
Merriman Curhan Ford GrMERR 8/11 A n/a -0.41
Nanosphere Inc NSPH 8/11 A -0.38 -0.44
Neoprobe Corp NEOP 8/11 A -0.02 -0.01
Nissin Co Ltd NIS 8/11 A n/a n/a
North Amern Palladium LPAL 8/11 A -0.10 0.13
Pan American Silver CorPAAS 8/11 A 0.19 0.31
Paragon Shipping Inc PRGN 8/11 A 0.43 0.49
Selectica Inc SLTC 8/11 A n/a -0.09
Sociedad Quimica MineraSQM 8/11 A 0.39 0.48
Supreme Inds Inc STS 8/11 A -0.15 0.02
Systemax Inc SYX 8/11 A 0.29 0.36
Taseko Mines Ltd TGB 8/11 A n/a 0.10
Thaicom Public Company SHSTY 8/11 A n/a n/a
Visionchina Media Inc VISN 8/11 A 0.10 0.12
Vivus Inc VVUS 8/11 A -0.18 0.06
Warnaco Group Inc WRC 8/11 A n/a n/a
Webmediabrands Inc WEBM 8/11 A n/a -0.02
Webzen Inc WZEN 8/11 A n/a n/a
Western Gas Partners LpWES 8/11 A 0.28 0.24
Wuxi Pharmatech Inc WX 8/11 A 0.12 0.12
*** A = After market hours B = Before market hours D = During market hours U = Time unknown ***
Earnings Schedule dated ~ 08/11/09 ~
Company Name Symbol Date Time Estimate YrAgo
Addvantage TechnologiesAEY 8/11 B n/a 0.06
Aeterna Zentaris Inc AEZS 8/11 B -0.23 -0.39
Aramark Corp RMK 8/11 B n/a n/a
Asat Hldgs Ltd ASTTY 8/11 B n/a -0.13
Bluephoenix Solutions LBPHX 8/11 B 0.24 0.16
Broadridge Finl SolutioBR 8/11 B 0.79 0.69
Cornerstone TherapeuticCRTXD 8/11 B 0.33 -1.26
Cpi Aerostructures Inc CVU 8/11 B 0.11 0.06
Decode Genetics Inc DCGN 8/11 B n/a -0.30
Dusa Pharmaceuticals InDUSA 8/11 B -0.06 -0.03
Emisphere Technologies EMIS 8/11 B n/a -0.25
Fossil Inc FOSL 8/11 B 0.20 0.36
Fuel-Tech N V FTEK 8/11 B -0.03 0.02
Geoeye Inc GEOY 8/11 B 0.39 0.12
Globaloptions Group IncGOPG 8/11 B -0.08 -0.20
Harbin Electric Inc HRBN 8/11 B 0.35 0.34
Intelligent Sys Corp NeINS 8/11 B n/a 0.34
Man Sang Hldgs Inc MHJ 8/11 B n/a 0.08
Microfluidics Intl CorpMFLU 8/11 B n/a -0.08
Oil Co Lukoil LUKOY 8/11 B n/a 4.92
Rand Logistics Inc RLOG 8/11 B 0.08 0.18
Top Image Systems Ltd TISA 8/11 B n/a -0.14
Wsp Holdings Limited WH 8/11 B 0.23 0.25
X-Rite Inc XRIT 8/11 B n/a -0.71
A D A M Inc ADAM 8/11 D 0.05 0.08
Administradora Fondos PPVD 8/11 D n/a n/a
Air Trans Hldgs Inc ATSG 8/11 D n/a -0.01
Ambassadors Intl Inc AMIE 8/11 D n/a -0.22
American Dairy Inc ADY 8/11 D 0.07 0.27
American Med Alert CorpAMAC 8/11 D n/a 0.05
American Spectrum RealtAQQ 8/11 D n/a n/a
Anthracite Cap Inc AHR 8/11 D 0.04 0.23
Appliance Recycling CtrARCI 8/11 D -0.02 0.18
Applied Matls Inc AMAT 8/11 D -0.08 0.14
Arca Biopharma Inc ABIO 8/11 D n/a 0.00
Aristotle Corp ARTL 8/11 D 0.23 0.25
Aurizon Mines Ltd AZK 8/11 D 0.08 0.04
Berkshire Hathaway Inc BRKA 8/11 D 1238.38 1465.00
Bitstream Inc BITS 8/11 D n/a 0.08
Callisto PharmaceuticalCLSP 8/11 D n/a -0.06
Centerline Holdings Co CLNH 8/11 D n/a -0.19
Chromcraft Revington InCRC 8/11 D n/a -1.32
Clean Diesel TechnologiCDTI 8/11 D n/a -0.26
Dendreon Corp DNDN 8/11 D -0.17 -0.18
Federal Agric Mtg Corp AGM 8/11 D n/a 0.70
Federal Home Ln Mtg CorFRE 8/11 D n/a -1.63
Feldman Mall Pptys Inc FMLPE 8/11 D -0.08 0.04
Fibernet Telecom Grp InFTGX 8/11 D -0.06 -0.09
Footstar Inc FTAR 8/11 D n/a n/a
Green Plains Renewable GPRED 8/11 D n/a 0.61
Gulf Resources Inc GFRE 8/11 D n/a 0.06
Harrington West Finl GrHWFG 8/11 D n/a -0.02
Hearusa Inc EAR 8/11 D -0.01 0.01
Heelys Inc HLYS 8/11 D -0.03 -0.01
Horne Intl Inc HNIN 8/11 D n/a n/a
Huron Consulting Group HURN 8/11 D 0.46 0.54
Imperial Oil Ltd IMO 8/11 D 0.38 1.11
India Fd Inc IFN 8/11 D n/a n/a
Inhibitex Inc INHX 8/11 D -0.10 -0.05
Interactive Sys WorldwiISWIE 8/11 D n/a -0.05
Itau Unibanco Banco MulITUB 8/11 D 0.24 0.42
Javelin PharmaceuticalsJAV 8/11 D -0.15 -0.16
Jazz Pharmaceuticals InJAZZ 8/11 D -0.33 -2.17
Mer Telemanagement SoluMTSL 8/11 D n/a -0.02
Ngp Cap Res Co NGPC 8/11 D 0.16 0.17
Oak Ridge Finl Svcs IncBKOR 8/11 D n/a 0.21
Origin Agritech LimitedSEED 8/11 D n/a -0.18
Photomedex Inc PHMDD 8/11 D -0.32 -0.21
Pointer Telocation Ltd PNTR 8/11 D n/a 0.17
Protalix BiotherapeuticPLX 8/11 D -0.08 -0.06
Pvf Capital Corp PVFC 8/11 D -0.86 -0.32
Rcm Technologies Inc RCMT 8/11 D 0.00 0.11
Rentech Inc RTK 8/11 D 0.08 -0.05
Rock Of Ages Corp ROAC 8/11 D n/a 0.10
Shengda Tech Inc SDTH 8/11 D 0.07 0.18
Southcoast Financial CoSOCB 8/11 D n/a 0.17
Southern Conn Bancorp ISSE 8/11 D n/a 0.03
Spark Networks Inc LOV 8/11 D n/a 0.09
Symmetricom Inc SYMM 8/11 D 0.09 0.05
Tefron Ltd TFRFF 8/11 D 0.00 -1.20
Tierone Corp TONE 8/11 D n/a -0.75
Tw Telecom Inc TWTC 8/11 D 0.03 0.00
Universal Power Group IUPG 8/11 D n/a 0.09
Vaalco Energy Inc EGY 8/11 D -0.12 0.22
Wilber Corp GIW 8/11 D 0.11 0.13
3sbio Inc SSRX 8/11 A 0.13 0.13
Arotech Corp ARTX 8/11 A n/a -0.15
Bob Evans Farms Inc BOBE 8/11 A 0.51 0.45
Bridgeline Software IncBLSW 8/11 A n/a 0.01
Celadon Group Inc CLDN 8/11 A 0.03 0.10
Clearwire Corp New CLWRD 8/11 A -0.39 -1.21
Cree Inc CREE 8/11 A 0.17 0.09
Energyconnect Group IncMICG 8/11 A n/a n/a
Euroseas Ltd ESEA 8/11 A 0.00 0.44
Hackett Group Inc HCKT 8/11 A 0.02 0.08
Learning Tree Intl Inc LTREE 8/11 A 0.08 0.23
Merriman Curhan Ford GrMERR 8/11 A n/a -0.41
Nanosphere Inc NSPH 8/11 A -0.38 -0.44
Neoprobe Corp NEOP 8/11 A -0.02 -0.01
Nissin Co Ltd NIS 8/11 A n/a n/a
North Amern Palladium LPAL 8/11 A -0.10 0.13
Pan American Silver CorPAAS 8/11 A 0.19 0.31
Paragon Shipping Inc PRGN 8/11 A 0.43 0.49
Selectica Inc SLTC 8/11 A n/a -0.09
Sociedad Quimica MineraSQM 8/11 A 0.39 0.48
Supreme Inds Inc STS 8/11 A -0.15 0.02
Systemax Inc SYX 8/11 A 0.29 0.36
Taseko Mines Ltd TGB 8/11 A n/a 0.10
Thaicom Public Company SHSTY 8/11 A n/a n/a
Visionchina Media Inc VISN 8/11 A 0.10 0.12
Vivus Inc VVUS 8/11 A -0.18 0.06
Warnaco Group Inc WRC 8/11 A n/a n/a
Webmediabrands Inc WEBM 8/11 A n/a -0.02
Webzen Inc WZEN 8/11 A n/a n/a
Western Gas Partners LpWES 8/11 A 0.28 0.24
Wuxi Pharmatech Inc WX 8/11 A 0.12 0.12
*** A = After market hours B = Before market hours D = During market hours U = Time unknown ***
Anytime my friend.
Technically, there is still a gap, as you mentioned. However, that does not mean it will ever fill. As unbeREEvable mentioned, there is also a gap between $0.12 and $0.13. If the price continues to rally, naturally, this gap will fill.
I would not consider the "gap" resistance but $0.13 might be a short-term resistance level. There are several, I tried to focus on the ones I thought were key.
I did notice, thank you again RedStick.
That's true, stockcharts does round figures. Thank you for the clarification RedStick.
(We always have from the FA side!)
The purpose of the T/A is to hypothetically propose the likely events to occur in the future. This allows for investors to understand where they might want to add to their position(s) and the channel where traders operate in terms of buying in and thereafter liquidating. I wouldn't argue with you in terms of the F/A under any circumstances.
Thank you RedStick, so long as it benefits at least one investor in Sarissa Resources, Inc. I can rest assured it was worth the effort.
You're welcome Threw-er-back.
It's speculative. I would say a bold increment above $0.12, ie. $0.121, would mean resistance has been broken and surpassed at $0.12. Some might argue otherwise. The key is that our intentions are one and the same.
That's odd...mine shows $0.12 as the 20sma.
SRSR ~ video chart 08.10.09
Recaping the reversal signal following Thursday's trading session, and the reversal confirmation coming off Friday's, we've witnessed a classic technical bounce. Key resistance follows at $0.12; $0.15, respectfully. My thoughts and analysis in video format follow.
Link to video chart: http://timelesswealth.net/srsrupdate.html
SRSR ~ video chart 08.10.09
Recaping the reversal signal following Thursday's trading session, and the reversal confirmation coming off Friday's, we've witnessed a classic technical bounce. Key resistance follows at $0.12; $0.15, respectfully. My thoughts and analysis in video format follow.
Link to video chart: http://timelesswealth.net/srsrupdate.html
SRSR ~ video chart 08.10.09
Recaping the reversal signal following Thursday's trading session, and the reversal confirmation coming off Friday's, we've witnessed a classic technical bounce. Key resistance follows at $0.12; $0.15, respectfully. My thoughts and analysis in video format follow.
Link to video chart: http://timelesswealth.net/srsrupdate.html
Heading out here to take care of some business...wouldn't be at all surprised to hear from Wireless Age Communications, Inc. on the Sunbay Energy Corp. acquisition shortly. All the best.
Heading out here to take care of some business...all the best.
The statistic is as follows:
-Japan is the world leader with thermal treatment of waste reaching 95%.
-Europe follows with 50% thermal treatment.
-North America lags significantly with less than 5% of our waste treated thermally. Unfortunately, it means our waste is directed towards landfill and incineration programs.
Last evening I read an article by an individual who argued the cap and trade program to be premature and ideas of alternative energy replacing current fossil fuels unrealistic. His argument was this: worldwide energy demand would increase 30-50% in the next 20 years and we would need to be generating from all available resources. Solar and wind are unreliable, inefficient, and the technology has not progressed to the point where it is profitable (very small margin of profitability). There's a fine line between environmentally conscious and economically competent. Alternative technologies are all in competition against one another, meaning plasma gasification as the more efficient, productive, and reliable solution could be an important technology adapted very quickly around the major metropolitan areas in the US and Canada.
Baltic Dry Plunges 17% as China Demand Slows.
by: The Fundamental Analyst August 09, 2009
As they indicated they would, the Chinese have backed off on purchases of commodities thus precipitating the worst week for the Baltic Dry Index since October last year. The index is now down -35% from this year’s high achieved in June. It doesn’t say much for demand in the rest of the world if China’s stockpiling has been the only reason for the run-up to June this year. From Bloomberg:
Baltic Dry Index Has Worst Week Since October as Demand Slows
Aug. 7 (Bloomberg) — The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for shipments of coal and iron ore slowed.
The index tracking transportation costs on international trade routes today slid 135 points, or 4.6 percent, to 2,772 points, according to the Baltic Exchange. That took its weekly drop to 17 percent, the most since the end of October.
“The Chinese have backed off and it’s starting to show in the number of shipments this month,” Gavin Durrell, a Cape Town-based official at Island View Shipping SA, Africa’s biggest commodities shipping line, said by phone today. “Iron ore and coal seem to be slowing down.”
China’s record coal and iron ore imports in the first half helped the index to advance as much as fivefold this year, reversing some of the record 92 percent collapse in 2008. Demand rose after the country’s government announced a 4 trillion yuan ($586 billion) stimulus package.
Daily rental rates for every class of ship tracked by the bourse declined today, led by a 5.6 percent slump to $20,880 for panamaxes, ships designed to navigate the Panama Canal.
Capesizes, ships most commonly used to haul about 170,000 metric tons of iron ore around South Africa’s Cape of Good Hope or Chile’s Cape Horn, lost 5.2 percent to $45,428 a day. Smaller supramaxes fell 5 percent to $19,242 a day and handysize ships lost 2 percent to $12,051 a day.
Chinese Steelmakers
Rates are declining as Chinese steelmakers delay imports while they negotiate annual iron ore prices with producers such as Rio Tinto Group, BHP Billiton Ltd. and Vale SA, Durrell said. “I don’t think they will come back until they agree,” he said.
The drop reflects a wider slide in demand for raw materials that will likely push prices for metals, commodities and energy lower, Eugen Weinberg, a senior commodity analyst at Commerzbank AG in Frankfurt, said by phone yesterday.
The Baltic Dry Index has slumped 35 percent from this year’s high on June 3. The Standard & Poor’s GSCI Index of 24 commodities has climbed 7 percent over the same period.
Derivatives betting on the Baltic Exchange’s future assessments fell for a third day, indicating the declining spot market is causing traders’ future expectations to deteriorate.
October-to-December forward freight agreements, or FFAs, for capesizes lost 4.7 percent to $36,750 a day, according to prices from Imarex ASA, a broker of the accords. That implies traders expect the market to drop 19 percent by year-end.
Panamax contracts fell 1 percent to $17,625 a day, implying a 16 percent decline.
Commercial Real Estate Suffering from Cash Flow Problems?
by: Tom Lindmark August 10, 2009
Maguire Properties (MPG), one of the largest office owners in Southern California is throwing in the towel on seven office buildings.
From the WSJ:
Maguire Properties Inc., one of the largest office-building owners in Southern California, is planning to hand over control of seven buildings with some $1.06 billion in debt to creditors, the latest sign that rising vacancies and falling rents are causing stress in the commercial real-estate sector.
Maguire, which borrowed heavily during the go-go years to make disastrous top-of-the-market investments, mostly in Orange County, notified the buildings’ mortgage holders Friday that it expected “imminent default” on the loans. The buildings are all worth less then their mortgages and aren’t generating enough cash to pay debt service and finance leasing expenses.
There’s a significant bit of information in this piece of news. Most of the pundits (yours truly included) have assumed that commercial real estate would implode primarily from an inability to refinance maturing debt. In the case of Maguire it looks as if the problem is simply a cash flow problem. They aren’t up against loan maturities, the buildings just aren’t viable business ventures.
If that’s the case then it might be reasonable to expect more actions like this one by other owners. Rather than a slow collapse of CRE we may be looking at it going over the cliff rather quickly. I think it’s reasonable to conclude that if a company of Maguire’s size is willing to walk that there are a number of smaller players that must be in the same boat.
It would be helpful to know a bit more about Maguire’s decision, particularly whether they and the lenders on this building tried to work out some sort of modification and failed or if Maguire simply decided handing over the keys was the best strategic decision. That sort of information would go a long way in any attempt to draw some larger conclusions from their decision.
Pending that, I expect that we can continue to see the deterioration of the CRE sector pick up steam with that attendant collateral damage to small and mid-sized banks.
Health care's six money-wasting problems.
By Parija B. Kavilanz, CNNMoney.com senior writer
On Monday August 10, 2009, 9:31 am EDT
Down the drain: $1.2 trillion.
That's half of the $2.2 trillion the United States spends on health care each year, according to the most recent data from accounting firm PricewaterhouseCoopers' Health Research Institute.
What counts as waste? The report identified 16 different areas in which health care dollars are squandered. But in talking to doctors, nurses, hospital groups and patient advocacy groups, six areas totaling nearly $500 billion stood out as issues to be dealt with in the health care reform debate.
Too many tests
Doctors ordering tests or procedures not based on need but concern over liability or increasing their income is the biggest waste of health care dollars, costing the system at least $210 billion a year, according to the report. The problem is called "defensive medicine."
"Sometimes the motivation is to avoid malpractice suits, or to make more money because they are compensated more for doing more," said Dr. Arthur Garson, provost of the University of Virginia and former dean of its medical school. "Many are also convinced that doing more tests is the right thing to do."
"But any money that is spent on a patient that doesn't improve the outcome is a waste," said Garson.
Some conservatives have suggested that capping malpractice awards would help solve the problem.
President Obama doesn't agree; instead, his reform proposal encourages doctors to practice "evidence-based" guidelines as a way to scale back on unnecessary tests.
Those annoying claim forms
Inefficient claims processing is the second-biggest area of wasteful expenditure, costing as much as $210 billion annually, the PricewaterhouseCoopers report said.
"We spend a lot of time and money trying to get paid by insurers," said Dr. Terry McGenney, a Kansas City, Mo.-based family physician.
"Every insurance company has its own forms," McGenney said. "Some practices spend 40% of their revenue filling out paperwork that has nothing to do with patient care. So much of this could be automated."
Dr. Jason Dees, a family doctor in a private practice based in New Albany, Miss., said his office often resubmits claims that have been "magically denied."
"That adds to our administrative fees, extends the payment cycle and hurts our cash flow," he said.
Dees also spends a lot of time getting "pre-certification" from insurers to approve higher-priced procedures such as MRIs. "We're already operating on paper-thin margins and this takes times away from our patients," he said.
Susan Pisano, spokeswoman for America's Health Insurance Plans, said "hundreds of billions" of dollars can be saved by standardizing procedures and using technology -- something the White House has mentioned as a key to health care reform.
"For that to happen, we need the technology," she said. "Doctors and hospitals must adopt the technology, and we have to develop rules for exchanging of information between doctors, hospitals and health plans."
Pisano said the industry is launching a pilot program later this year that will allow physicians to communicate with all health plans using a standardized process.
Using the ER as a clinic
More insured and uninsured consumers are getting their primary care in emergency rooms, wasting $14 billion every year in health care spending.
"This is an inappropriate use of the ER," said Dee Swanson, president of the American Academy of Nurse Practitioners. "You don't go to the ER for strep throat."
Since emergency rooms are legally obligated to treat all patients, Swanson said providers ultimately find ways to pass on the cost for treating the uninsured to other patients, such as to those who pay out-of-pocket for their medical care.
Dees also took issue with consumers who don't get primary care for their diabetes or blood pressure on a timely basis, hence finding themselves in the ER.
"Going to the doctor for strep throat would cost $65-$70. In the ER, it's $600 to $800," he said.
The $787 billion stimulus bill signed passed by President Obama earlier this year includes allocates $1 billion for a wellness and prevention fund, including $300 million for immunizations and $650 million for prevention programs to combat the rapid growth in chronic diseases such as obesity and diabetes.
Medical "Oops"
Medical errors are costing the industry $17 billion a year in wasted expenses, something that makes patient advocacy groups irate.
"Do we have a good health IT system in place to prevent this?" asked Kim Bailey, senior health policy analyst with consumer advocacy group Families USA.
Bailey suggested that processes such as computerized order entry for drugs and use of electronic health records (EHR) could help ensure that patients get the correct dosage of medications in hospitals.
The stimulus bill calls for the government to take a leading role in developing standards by 2010 to facilitate the adoption of health information exchanges across the system, including patient electronic health records by 2014.
Obama has repeatedly said that the use of technology in the health sector will help boost savings, enhance the coordination of care and reduce medical errors and unnecessary procedures.
Going back to the hospital
Bailey suggested that processes such as computerized order entry for drugs and use of electronic health records (EHR) could help ensure that patients get the correct dosage of medications in hospitals. Discharging patients too soon is a "huge waste of money," said Swanson.
"This happens a lot with elderly patients who are discharged prematurely because of insurance, bed unavailability or ageism," she said.
Many times, patients also don't follow instructions for care after discharge. "So complications arise and they are readmitted in a week," Swanson said.
PricewaterhouseCoopers estimates the cost of preventable hospital readmissions at $25 billion annually.
Among the reform plans, one proposal being considered is for Medicare to potentially penalize hospitals who readmit patients within 30 days of discharge.
You forgot to wash your hands!
Those ubiquitous dispensers of hand sanitizer are in hospitals for a reason: PricewaterhouseCoopers estimates that about $3 billion is wasted every year as a result of infections acquired during hospital stays.
"The general belief is that hospitals are getting much better in managing this than they have in the past," said Richard Clarke, CEO of Healthcare Financial Management Association, whose members include hospitals and managed care organizations.
Something as simple as hand-washing often can reduce the problem.
"Sometimes doctors are the most difficult people to convince to do this," said Clarke. "The challenge here is that patients sometimes come in with infections which then spread in the hospital."
The stimulus bill signed by Obama earlier this year includes $50 million for reducing health care-associated infections.
As policymakers continue to debate the extent and timing of health care reform.
European stocks drift lower ahead of US open.
European stocks drift down ahead of expected subdued US open; Asian stocks up on US jobs data
By Pan Pylas, AP Business Writer
On Monday August 10, 2009, 8:44 am EDT
LONDON (AP) -- European stock markets and Wall Street futures fell modestly Monday as investors took a breather after ending last week on a positive note due to better than anticipated U.S. jobs data.
The FTSE 100 index of leading British shares was down 26.88 points, or 0.6 percent, at 4,704.68 while Germany's DAX fell 50.27 points, or 0.9 percent, at 5,408.23. The CAC-40 in France was 26.58 points, or 0.8 percent, lower at 3,494.56.
A similarly soft opening is expected on Wall Street when it opens shortly. Dow futures were down 7 points, or 0.1 percent, at 9,318 while the broader Standard & Poor's 500 futures fell 1.4 points, or 0.1 percent, to 1,005.
Stocks in Europe and the U.S. ended last week on a sound footing after government figures showed that only 247,000 U.S. jobs were lost in July -- far less than expected -- and the unemployment rate unexpectedly fell to 9.4 percent.
That helped the Dow add 2.2 percent over the week to reach a ten-month high and the S&P to consolidate itself above 1,000. European indexes likewise pushed up to 2009 highs.
With little on the calendar over the rest of Monday and many traders on holiday, stocks could well continue drifting.
However, renewed direction could emerge through the week as the data flow and corporate earnings pick up.
"As the week moves on we will see some more high level economic readings but for now it will be a case of taking stock of what was a pivotal week in the stock market recovery," said Jimmy Yates, a dealer at CMC Markets.
The coming week will likely be dominated by U.S. retail sales data and a raft of earnings from retailers themselves, such as Wal-Mart Stores Inc., JC Penney Corp. and Estee Lauder Co.
Investors are fully aware that without the support of the U.S. consumer, which accounts for around 70 percent of the U.S. economy and 20 percent of the global economy, any recovery will soon fizzle out.
Daragh Maher, an analyst at Calyon Credit Agricole, said retail sales in the U.S. should be boosted by the government-sponsored 'cash for clunkers' subsidy to boost auto sales, though the underlying picture will be considerably less upbeat.
Investors are also awaiting the latest monetary policy decision from the U.S. Federal Reserve on Wednesday.
Though no change in interest rates is expected, investors will be looking to see if the Fed sounds a note of cautious optimism in its accompanying statement and whether it has plans to expand its asset-purchasing program now that the funds are running dry.
Despite the relative dearth of economic news Monday, some stocks were in the spotlight. Notably, bailed-out British bank Lloyds Banking Group PLC slid 4 percent on a newspaper report it was planning a massive issue of shares to loosen the government's grip -- the government owns over 40 percent of the bank after last year's injection of capital to keep it afloat.
In Asia, Tokyo's Nikkei 225 stock average rose 112.17 points, or 1.1 percent, to a ten-month high of 10,524.26 after an unexpected surge in Japanese machinery orders, while Hong Kong's Hang Seng jumped 554.15 points, or 2.7 percent, to 20,929.52, its best finish in about 11 months.
Elsewhere, Australian and Taiwan markets gained while South Korea's market closed little changed.
Shanghai's benchmark edged lower amid continuing jitters that the rush of liquidity that's driven China's economy and markets over the last year might slow.
Meanwhile, oil prices gave up early gains, with benchmark crude for September exchanging hands at $70.81 a barrel, down 12 cents. The contract lost $1.01 on Friday.
The dollar fell 0.6 percent to 97.13 yen, while the euro rose 0.1 percent to $1.4182.
AP Business Writer Jeremiah Marquez in Hong Kong contributed to this report.
U.S. banks to make $38 billion from overdraft fees: report.
On Monday August 10, 2009, 3:43 am EDT
(Reuters) - Banks in the United States are poised to make $38.5 billion in customer overdraft fees this year, the Financial Times said, citing research by Moebs Services.
A large portion of the revenue is likely to come from the most financially stretched consumers, according to the paper.
It said the research showed that many banks have increased charges on overdrafts and credit cards in order to boost profits.
The median bank overdraft fee rose this year by one dollar to $26, the paper said, citing the Moebs data.
"Banks are returning to a fee-driven model and overdraft fees are the mother lode," Mike Moebs, the company's founder was quoted by the paper as saying.
Overdraft fees accounted for more than 75 percent of service fees charged on customer deposits, the paper cited Moebs as saying.
Last year the U.S. Federal Reserve approved credit card rules to curb "unfair" practices such as surprise fees and interest rate hikes, and new mortgage lending rules are expected this summer. It is also mulling rules to give bank customers the chance to opt out of overdraft schemes that can involve fees.
(Reporting by Ajay Kamalakaran in Bangalore; Editing by Greg Mahlich)
Stock futures modestly lower ahead of opening.
Stock futures modestly lower ahead of upcoming Federal Reserve meeting, retailer earnings
By Stephen Bernard, AP Business Writer
On Monday August 10, 2009, 9:01 am EDT
NEW YORK (AP) -- Stock futures were modestly lower early Monday as investors turn their attention to an upcoming Federal Reserve Board meeting and earnings from some of the nation's largest retailers.
Overseas, Asian markets rose amid a positive report on Japanese machinery orders, a key indicator of corporate capital spending. European markets were modestly lower.
Amid a spring rally that has now stretched into the summer, investors will continue to hunt for signs of economic improvement to keep sending stocks higher. Better-than-expected earnings reports, along with signs of stabilization in the housing and banking sectors, have buoyed stocks in recent weeks.
To sustain the rally, investors will need to see consumers are back to buying goods. Consumer spending accounts for more than two-thirds of economic activity and is considered vital to a recovery.
Company outlooks could provide signs of how much recovery retailers expect to see in upcoming quarters.
"There's less emphasis on earnings and more emphasis on outlooks," said Bryan Place, principal at Place Financial Advisors. "I think there is pent-up demand."
Place said that building demand could help boost consumer spending in the coming months. The popular "cash-for-clunkers" car trade-in program shows consumers might be ready to start buying again, he added.
Key retailers such as Wal-Mart Stores Inc. and Macy's Inc. report earnings this week.
Investors will also look to the Fed for indications of how the economy is faring. It is widely expected the Fed will keep key interest rates steady at near zero, but concerns about inflation are starting to grow, which could eventually force the Fed to raise rates.
The Fed's two-day meeting begins Tuesday.
Ahead of the opening bell, Dow Jones industrial average futures fell 28, or 0.3 percent, to 9,297. Standard & Poor's 500 index futures declined 3.90, or 0.4 percent, to 1,002.50, while Nasdaq 100 index futures fell 9.50, or 0.6 percent, to 1,610.25.
Any market declines are likely to be small, Place said, because there is enough cash still being held by investors to meet any dip in the market with buying.
The muted futures trading Monday comes after the market rallied sharply on Friday amid a stronger-than-expected monthly unemployment report. The data was welcomed as the latest sign the economy is starting to rebound from its bottom, though it still hasn't fully recovered.
The Labor Department said employers cut 247,000 jobs in July, fewer than the 320,000 expected to be cut. The unemployment rate dipped to 9.4 percent from 9.5 percent the previous month. Economists had predicted the jobless rate would rise to 9.6 percent.
The major indexes all jumped more than 1.2 percent on Friday.
Meanwhile, bond prices fell Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.87 percent from 3.86 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.18 percent from 0.16 percent late Friday.
The dollar was mostly lower against other major currencies, while gold prices fell.
Overseas, Japan's Nikkei stock average rose 1.1 percent. In afternoon trading, Britain's FTSE 100 fell 0.8 percent, Germany's DAX index declined 1.2 percent, and France's CAC-40 fell 1 percent.
You're welcome.
The key to remember is the valuation is based on one project. Shareholder value benefits from the relatively low share structure.
Global Partners: A High Dividend Stock with Big Earnings Growth.
by: Double Dividend Stocks August 07, 2009
Big earnings growth and a high dividend are two variables that don't often go together when screening for the best stocks to buy, but in Global Partners' (GLP) case, these 2 features just coalesced in their 2009 Q2 earnings report. A screen for 30%-plus EPS growth this year and quarter-over-quarter, and a 9%-plus dividend turned up mostly energy stocks - oil & gas pipeline or drilling companies, and an assortment of other companies. GLP - a Master Limited Partnership (MLP) firm, just became part of this special group of high dividend paying stocks with high earnings growth. (Many web screeners may not include them yet, as they just reported yesterday).
Although their revenue fell significantly, GLP was able to post major increases in EBITDA, net income, distributable cash flow, net income/diluted unit, by achieving large margin increases, improving their efficiencies, and posting a 3% product volume increase. Here are the numbers:
Global Partners LP 2nd Quarter 2009 Highlights:
($1,000's, except Net Inc/Unit) Q2 2009 Q2 2008 CHANGE
Revenue $1,200,000.00 $2,300,000.00 -47.83%
Distillates - Net Product Margin $13,500.00 $9,300.00 45.16%
Wholesale Gasoline- Net Product Margin $12,100.00 $10,400.00 16.35%
Gross Profit $27,800.00 $22,787.00 22.00%
EBITDA $8,600.00 $6,800.00 26.47%
Distributable Cash Flow $3,300.00 $2,200.00 50.00%
Net Income $978.00 -$1,200.00 181.50%
Net Income/Diluted Ltd. Partner Unit $0.07 -$0.10 170.00%
Ltd Partner Units outstanding (millions) 13.40 13.10 2.29%
Global Partners LP Jan-June 2009 Highlights:
($1,000's, except Net Inc/Unit) JAN-JUNE 2009 JAN-JUNE 2008 CHANGE
Revenue $2,800,000.00 $5,000,000.00 -44.00%
Distillates - Net Product Margin $47,300.00 $32,400.00 45.99%
Wholesale Gasoline- Net Product Margin $23,900.00 $19,000.00 25.79%
Gross Profit $78,500.00 $58,300.00 34.65%
EBITDA $36,000.00 $25,300.00 42.29%
Distributable Cash Flow $25,300.00 $14,000.00 80.71%
Net Income $19,800.00 $7,400.00 167.57%
Net Income/Diluted Ltd. Partner Unit $1.46 $0.55 165.45%
Ltd Partner Units outstanding (millions) 13.30 13.10 1.53%
Five Stocks Currently Raising Dividends.
by: Dividends4Life August 07, 2009
Many years ago my grandmother made the statement, “Everyone I know is either dead, or dying.” I thought it was an odd statement since everyone I knew was either getting married or having kids. Your perspective depends on who you run with. Contrary to the perception from popular media, not all companies are cutting dividends, many are still raising them, and some are starting a new dividend program.
This week is no different, the dividend increases continue with several companies sharing the wealth with their shareholders through higher cash dividends:
Kaydon (KDN) designs, manufactures, and sells custom engineered products in North America, Europe, and Asia. Recently, the company increased its quarterly 5.9% to $0.18/share. The dividend is payable October 5, 2009 to shareholders of record as of the close of business on September 14, 2009. The current yield based on the new dividend is 2.22%.
American Water Works (AWK) provides water, wastewater and other water-related services to residential, commercial, and industrial customers in the United States and Canada. Last week, the company raised its quarterly cash dividend by 5% to $0.21/share. The dividend is payable on September 1, 2009 to all shareholders of record as of August 18, 2009. The current yield based on the new dividend is 4.20%.
Atrion (ATRI) designs, develops, manufactures, markets, sells and distributes various products and components, primarily for the medical and health care industry. Tuesday,the company boosted its quarterly cash dividend 20% to $0.36/share. The dividend is payable on September 30, 2009 to stockholders of record at the close of business on September 15, 2009. The current yield based on the new dividend is 1.10%.
Leggett & Platt (LEG) makes a broad line of bedding and furniture components and other home, office, and commercial furnishings, as well as diversified products for non-furnishings markets. Yesterday, the company raised its quarterly dividend 4% to $0.26/share. The dividend is payable October 15, 2009 to shareholders of record on September 15, 2009. The ex-dividend date is September 11. After seven straight quarters with its dividend froze at $0.25/share, this Dividend Aristocrat was two quarters away from being removed from the list. The current yield based on the new dividend is 5.90%.
Dover (DOV) manufactures a broad range of specialized industrial products and sophisticated manufacturing equipment. Thursday, the company increased it quarterly dividend 4% to $0.26. The dividend will be paid on September 15, 2009 to shareholders of record as of August 31, 2009. The ex-dividend date is August 27th. DOV is a Dividend Aristocrat that has increased its dividend for 54 consecutive years. The current yield based on the new dividend is 3.06%. [Analysis]
Finally, we celebrate the birth of a new dividend company as PetMed Express (PETS) declared its first ever dividend of $0.10/share on Monday. PETS markets prescription and nonprescription pet medications and other health products for dogs, cats, and horses directly to the consumer. The dividend is payable on August 31, 2009, to shareholders of record at the close of business on August 14, 2009, with an ex-dividend date of August 12th. The current yield based on the new dividend is 2.15%.
There are many companies that continue to consistently raise their dividends. For stocks with a long string of consecutive dividend increases, see this list.
Full Disclosure: No position in the aforementioned stock.
http://seekingalpha.com/article/154695-five-stocks-currently-raising-dividends?
FDA Calendar Updates: Orexo, Novo Nordisk, King, Isis, Facet. by: Mike Havrilla August 07, 2009
Below is a summary of updates to the BioMedReports.com FDA Calendar, which includes a database of 294 entries as of 8/6/09. The calendar was originally created by Mike Havrilla to track companies with pending new drug, biological agent, or medical device new product decisions at the FDA. With the launch of BioMedReports.com, the FDA Calendar has expanded to include the following categories: pending new submissions to the FDA (e.g. NDA, ANDA, BLA, 510k, PMA, sNDA, sBLA filings), pending complete response letter (CRL) re-submissions to the FDA, and pending late-stage clinical trial results.
On 8/6/09 , Orexo AB [STO:ORX] announced that its partner, UK-based international specialty pharma ProStrakan Group plc [LSE:PSK] (PKNGF.PK), submitted a New Drug Application (NDA) for Abstral to the FDA. The filing of Abstral will generate a milestone payment to Orexo as part of the agreement with ProStrakan for North America that in total can give US$27 million in certain regulatory and sales milestone payments In addition to royalties on product sales.
Abstral is a fast-dissolving tablet for sublingual administration of fentanyl, intended for the management of breakthrough cancer pain in patients who are already receiving opioid analgesics. It is based on Orexo's unique and patented sublingual tablet technology in which a rapidly dissolving tablet is placed under the tongue and the active substance is absorbed by the mucous membrane. Currently Abstral is sold in Sweden, UK, Germany and France.
On 7/3/09, Novo Nordisk (NYSE:NVO) announced European Commission marketing authorization for Victoza (liraglutide) in the treatment of type 2 diabetes in adults. NVO will launch Victoza in Britain, Germany, and Denmark this summer and in other European markets during the remainder of 2009 and in 2010. Victoza is regarded as the most important compound in Novo's pipeline and a key FDA decision is still pending. The original PDUFA action date for the Company's pending Victoza NDA for type 2 diabetes was 3/23/09, but a FDA decision is still pending.
Victoza is used once-daily via subcutaneous injection, and the drug is a synthetic glucagon-like peptide-1 (GLP-1) that works by stimulating insulin release when glucose levels become high. On 4/2/09, an FDA Advisory Panel stated liraglutide does not appear to carry heart risks, though serious questions remain about its possible links to tumors. Panelists were split, voting 6-6, on whether the drug should be approved in the face of evidence it caused cancerous thyroid tumors in rats and mice. The panel voted 8-5 in favor of the drug's cardiovascular safety profile. On 8/6/09, NVO provided guidance that the FDA informed the Company to expect a decision either in August or September.
King has a pending NDA for Embeda (morphine + naltrexone), which is a pain drug that is designed to deter abuse and diversion. During 1Q09, KG received feedback from the FDA regarding a Risk Evaluation and Mitigation Strategy (REMS) for Embeda and stated the Company was in discussions with the Agency. On 8/6/09, King's CEO stated (in the PR for 2Q09 results) that, "we believe we are moving closer to an Embeda approval."
On 8/4/09, Facet announced that, along with its partner Biogen (NASDAQ:BIIB), both companies continue planning for the Phase 3 trial of daclizumab high-yield process (DAC HYP) in multiple sclerosis (MS) and expect to initiate the trial during 1H10. Upon enrollment of the first patient into the phase 3 study, Facet would receive a $30 million milestone payment from BIIB. Daclizumab is a humanized monoclonal antibody that binds to the alpha chain (CD25) of the interleukin-2 (IL-2) receptor on activated T cells, which are white blood cells that play a role in immune-mediated processes in the body. Facet plans to request a Special Protocol Assessment (SPA) from the FDA prior to the initiation of this study.
The companies continue to enroll patients in the SELECT phase 2b mono-therapy study of DAC HYP in MS as they plan for the Phase 3 study. The independent Safety Monitoring Committee (SMC) for the SELECT study conducted a planned interim futility analysis of a subset of the data and, based on that analysis, the SMC recommended the continuation of the SELECT trial, which remains a blinded study and is considered to be the first of two registration-enabling trials required by regulatory authorities.
On 8/6/09 , ISIS announced that its partner Genzyme (NASDAQ:GENZ) plans to file the first NDA for mipomersen in the U.S. for homozygous FH during 2H10, with a similar filing in Europe shortly afterwards. Data from the Company's Phase 3 study in severe hypercholesterolemia patients is expected to be available at the time of these U.S. submissions and may provide the basis for a broader indication.
ISIS has now completed enrollment in the mipomersen Phase 3 study in heterozygous FH patients, which is the second of four Phase 3 studies and expects to report the data from this study during 1H10. In May 2009, ISIS reported positive top-line results (with final results still pending) from a Phase 3 study of mipomersen in the largest, placebo-controlled Phase 3 study in homozygous FH patients which met its primary endpoint with a 25% reduction in LDL-C after 26 weeks of treatment with mipomersen versus 3% for placebo and all of its secondary endpoints in a highly statistically significant manner.
Disclosure: Long GENZ
http://seekingalpha.com/article/154653-fda-calendar-updates-orexo-novo-nordisk-king-isis-facet?
For investors' eyes only...the valuation on Wireless Age Communications, Inc. (WLSA) is $0.69/share, based solely on their plasma gasification project in Port Hope, Ontario. This may be something of interest imho. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40314953
Chairman and CEO, John G. Simmonds, spent the past two decades adopting start-up businesses and transforming them into multi-million dollar enterprises. http://timelesswealth.net/wlsa_exec.html