Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Ben Bernanke's least favorite quote.
"You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time". Abraham Lincoln (attributed)
Although the price target is a little lower than other recent analyst upgrades, here's one more voice raised.
Aurizon Mines Ltd.(USA) PT Raised to $5.80 (AZK)
http://www.jagsreport.com/2012/10/aurizon-mines-ltd-usa-pt-raised-to-5-80-azk/
One more proprietary research source upgraded AZK from hold to accumulate this afternoon (11/2/2012). The bandwagon is getting a little full.
Jittery - characterized by jerky movements; "a jittery ride"
TZA - characterized by jerky movements; "a jittery ride"
Just received an AZK upgrade notice from a premium rating service (fee for service) firm I use. Considering two upgrades in the last few hours, I suspect there must be word on the street of imminent positive news from Aurizon. Of course, this view may be completely wrong, and trading so far today doesn't seem to support this new optimism by certain analysts.
Aurizon Mines Ltd. Stock Upgraded (AZK)
http://www.thestreet.com/story/11724503/1/aurizon-mines-ltd-stock-upgraded-azk.html
Nine days until the special $10 dividend "ex" date and the stock is hovering around the "cash on hand" with little or no value assigned to the enterprise. Is it worth anything beyond the cash? We shall soon see.
Partial script revealed for new reality series, AS THE EURO BURNS
Spain: We screwed up. It's gone........all of it.
Germany: Yeah, we noticed!
Spain: May we have some more, sir?
Germany: More! You want more! Well, you are going to have to prove you will be responsible this time!
Spain: Yes, sir. We promise.
Germany: Okay, but you really, really, really must do better!
Spain: Yes sir, you can trust us this time, even though we have never been trustworthy before, our economy is tanking, unemployment is already through the roof, austerity will make the economy worse, the people are currently rioting in the streets, and our most prosperous region wants to secede.
Germany: Uh........... why, don't we just wait a bit? Our citizens may not have enough personal lubricant on hand.
Spain: Whatever.
Exclusive: Spain ready for bailout, Germany signals "wait"- sources
http://www.reuters.com/article/2012/10/01/us-spain-bailout-idUSBRE8901AB20121001
The fiscal cliff cometh. The EKCS NT 10K may well be the perfect avatar for things to come for small corporations with significant exposure to government contracts.
For the year ended June 30, 2011, the registrant had revenues of $3,958,941 and net income of $381,566. For the year ended June 30, 2012, the registrant currently estimates that it had revenues of approximately $2.2 million and a net loss of approximately $1.65 million. Results for the 2012 fiscal year remain subject to further adjustment.
The decrease in revenues during the 2012 period as compared to the 2011 period is primarily attributable to the to the delays encountered by the Government related contract awards, Requests for Proposals and task order awards. The Government has delayed the review and approval process which has had a further negative impact on sales for this fiscal year. The net loss for the 2012 period is primarily attributable to the reduced revenues.
Upgrade from widely known analyst late yesterday.
European Union elitist central banker's dream news headline to wake up to one morning next week:
Math Outlawed for Everyone but Bankers in the New and Improved European Union.
Sunday, September 30, 3:58 AM The rescue of Spain's banks will cause the country's budget deficit to hit 7.4% this year, above its 6.3% target, the government said yesterday. Authorities reckon Spain could require €40B of its EU credit line after stress tests showed the sector needs €53.75B. Spain's debt-to-GDP ratio will rise to 85.3% in 2012 - above a previous forecast of 80% - and 90.5% in 2013.
http://seekingalpha.com/currents/post/563191
Cramer "likes" SAND. Now, you have to decide if you "like" Cramer.
Sandstorm Gold (SAND). Other stocks mentioned: SPDR Gold Trust ETF (GLD), Achillion Pharmaceuticals (ACHN), Triquint (TQNT), Skyworks (SWKS).
Countries are going to have to start printing more money and that means that gold will go higher. Cramer has ceased recommending miners, given the risks and expense involved in the actual mining process, and has recommended SPDR Gold Trust (GLD) or physical gold instead. However, Cramer discussed another way to play gold, through Sandstorm (SAND), a company that is like a banker for miners; it funds projects and receives a portion of future gold finds as payment. SAND is smaller and cheaper than its competitors, and has acquired 11 assets, 5 of which are producing, and most in areas with low geopolitical risk. The company has $150 million in capital to fund new projects and predicts it can grow production by 228% by next year. Cash flows are expected to increase 43% by 2013. Cramer would buy half a position now and the other half when the stock drops.
http://seekingalpha.com/article/896151-cramer-s-mad-money-8-things-to-watch-in-the-week-ahead-9-28-12
SILLY fiscally conservative, anti-cronyism, anti-socialist, free market, capitalists! It's just a slight problem with the banks which simply needs a little "clean-up"! We promise, that's really and truly all it is. Seriously, a little light dusting, vacuuming the floors, and washing the windows - everything will be perfectly fine. You can trust us! (again)
Spain Government Sees 2013 Debt-to-GDP Ratio at 90.5%
http://ih.advfn.com/p.php?pid=nmona&article=54348771
Dear Insane European Banking Elitists,
Thanks, but no thanks.
Sincerely,
Hungary
Hungary to Probably Opt-Out of EU Banking Union, Szasz Says
http://www.bloomberg.com/news/2012-09-29/hungary-to-probably-opt-out-of-eu-banking-union-szasz-says.html
Moody's Blues (Newest release coming soon)
Spain's sovereign debt could be downgraded to junk status by Moody's
http://seekingalpha.com/currents/post/561401
And now the moment you've all been waiting for! The week's most anticipated negative numbers, the undisputed fiscal farce of the hour, the mother of mismanaged monies......... PUT YOUR HANDS TOGETHER AND GIVE IT UP FOR THE SPANISH BANK AUDITS!!!!!
Spain to release bank audits after austerity cuts
http://news.yahoo.com/spain-release-bank-audits-austerity-cuts-081242870--finance.html
Brace yourselves for today's 10K or NT 10K.
Dear Spain,
Screw you.
Sincerely,
Catalonia
Amid Madrid protests, Catalonia bumps up elections in independence push
http://www.csmonitor.com/World/Europe/2012/0926/Amid-Madrid-protests-Catalonia-bumps-up-elections-in-independence-push
Sept 26, 2012
4:15 PM
Dear Shareholders,
Have a nice day.
Sincerely,
CRWG BOD
P.S. Our CFO just resigned
Dear Mariano Rajoy,
Prime Minister of Spain,
Is it possible this whole socialist experiment in Europe might end badly?
Sincerely,
The European Union
Greek cuts protest becomes violent
http://www.independent.co.uk/news/world/europe/greek-cuts-protest-becomes-violent-8180215.html
10-K: for Fiscal Year Ended 06/30/12 due Friday, September 28, 2012
It's Alive!
Not yet, the party is scheduled for October 12, 2012. RSVP,BYOB
Socialist Economic Theory In Practice - Pretending It Could Actually Work by Mariano Rajoy - Available soon at Amazon.com and fine bookstores everywhere.
Spain to seek bailout if yields too high for too long
http://www.reuters.com/article/2012/09/26/us-spain-rajoy-idUSBRE88P09F20120926
Ladies and gentlemen, mark your calendars for the upcoming Spanish Government Twits Parade, complete with Banker Clowns and European Union Magic Tricks! Come one, come all, to see and hear the exciting extravaganza of the week! (or at least the day)
Spain set to reveal the pain in its books
http://edition.cnn.com/2012/06/07/business/spain-euro-crisis/index.html
At this point, it all appears to depend on whether or not investors believe there is more to this stock than the $5.00 and change of cash which will be left after the special dividend. Two fairly respectable analysts have put a target price between $21 and $28, but they both stipulate their analysis depends solely on the ability of the company to continue or exceed the current revenue growth with their IQStream product. In other words, it's a crap shoot at this point, but isn't that generally what investors are faced with?
http://www.iqstream.net/overview.aspx
Anyone see that last nail?
European Sovereign Debt Crisis: Up Next, German Real Estate Bubble?
http://seekingalpha.com/article/883491-european-sovereign-debt-crisis-up-next-german-real-estate-bubble
"I got to get my rest, cause Monday's a mess"
Monday, September 24, 3:46 AM EU shares open lower as the adrenaline rush of central bank easing gives way to economic reality. "The liquidity rally looks like it's over and global growth worries are back on the agenda," says ETX Capital strategist Ishaq Siddiqi. Euro Stoxx 50 -0.6%, London -0.4%, Paris -0.6%, Frankfurt -0.3%, Milan -0.6%, Madrid -0.9%.
The magic of "leveraging".
Monday, September 24, 3:18 AM German Deputy finmin Steffen Kampeter says the eurozone is discussing leveraging its ESM permanent bailout fund. Kampeter's comments follow a report in Spiegel magazine that the bloc wants to leverage the program to give it a capacity of over €2T vs. the €500B pledged. The techniques used would be similar to those deployed for the temporary EFSF.
http://seekingalpha.com/currents/post/552131
Still Growing!
As of September 10, 2012, the registrant had 73,367,389 shares of its $0.001 par value common stock issued and outstanding
As of June 7, 2012, the registrant had 70,211,946 shares of its $0.001 par value common stock issued and outstanding.
As of March 6, 2012, the registrant had 66,669,244 shares of its $0.001 par value common stock issued and outstanding.
State the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date: 61,169,244 shares as of January 23, 2012.
The ex-dividend date for the special dividend is October 12, 2012 even though the record date is October 1, 2012. In order to receive and keep the special dividend, it appears you will need to buy the stock by 9/27/2012 and own it through 10/11/2012
The Company also announced that, on September 19, 2012, its Board of Directors approved a special cash distribution of $10.00 per share of common stock. The cash distribution will be paid on October 11, 2012 to stockholders of record as of October 1, 2012. In accordance with NASDAQ Rule 11140(b), the ex-dividend date will be October 12, 2012, the first business day following the payment date for the cash distribution.
Read the following excerpt from the SEC website.
If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid.
If you have questions about specific dividends, you should consult with your financial advisor. You can also get information by going to your library and reading Standard and Poor's Dividend Record Binder.
From NASDAQ
Dividends Or Distributions
25 Percent Or Greater Than
Security Value
The second method, under
subparagraph (b)(2) of Rule 11140,
provides that for dividends or
distributions that are 25 percent or
greater of the value of the subject
security, the ex-date shall be the
first business day following the
payable date. For example, if an
issuer has announced August 10 as
the record date and August 31 as
the payable date, then the ex-date
will be September 1, the first
business day after the payable
date. In this example, September 1
is the day on or after which a buyer
would purchase the security without
the dividend and, therefore, the day
on which the price of the stock is
adjusted downward. In this
example, a seller of the security on
August 15, even though the holder
of record to receive the dividend,
would have to relinquish the
dividend to the buyer. Indeed,
because the value of the security
on August 15 has not yet been
adjusted downward to reflect the
dividend distribution, the seller in
this example would be unjustly
enriched by keeping the dividend.
The seller would have received the
value of the dividend twice: first, as
fully reflected in the unadjusted
price of the stock on August 15;
and secondly, as subsequently paid
by the company to record date holders.
This Notice reminds member firms
and their associated persons that
ex-dates are determined differently,
depending on the size of the
distribution. Current and historical
dividend information is maintained
by The Nasdaq Stock Market and
can be found on the Nasdaq Trader
Web Site at
www.nasdaqtrader.com/dailylist/
dl_di_ind.stm.
Tax angle to SCMR special dividend?
Friday, September 21, 1:04 PM Look for a deluge of special dividends over the next quarter, says Goldman Sachs, as corporations rush to return cash to shareholders before taxes go higher in 2013. Choice Hotels CEO Steve Joyce sums it up: "Tax rates on dividends are never going to be better ... I don't know how much worse they are going to get, but they are going to get worse."
http://seekingalpha.com/currents/post/551221
Sycamore Networks Inc. (SCMR) Set Nearly A 5-Month High On Q4 Sales News
http://www.rttnews.com/1969518/sycamore-networks-inc-scmr-set-nearly-a-5-month-high-on-q4-sales-news.aspx?type=btb&utm_source=google&utm_campaign=sitemap
The case for why the Fed must NEVER stop debasing the dollar.
Friday, September 21, 4:44 AM When California Governor Jerry Brown came into office last year, he said he found a "wall of debt" of $28B. That wall is actually a much bigger $167B-$335B, says the State Budget Crisis Task Force, which was co-founded by Paul Volcker. The task force includes lots of off-book items in its calculations such as pledges to provide pensions to public workers and healthcare for retirees, and $40B to improve drinking water.
http://seekingalpha.com/currents/post/549991
http://www.statebudgetcrisis.org/wpcms/
For those of you who have access to S & P Capital IQ it looks like they issued a rating upgrade from hold to buy for SCMR yesterday.
I keep reading this over and over, but it always appears to state you will receive $10 on October 11,2012 for each common share you own on October 1, 2012. Of course, the share price could drop by more than $10 before the record date, but other than that, can anyone tell me why I shouldn't jump in with both feet. (Please hurry, because I'm feeling a little jumpy right now)
Item 8.01: Other Events.
On September 19, 2012, the Board of Directors of the Registrant approved a special cash distribution of $10.00 per share of common stock, par value $0.001 (the “Common Stock”). Each stockholder of record on October 1, 2012 will be entitled to receive $10.00 in cash for every share of Common Stock held by such stockholder. The cash distribution will be paid on October 11, 2012. In accordance with NASDAQ Rule 11140(b), the ex-dividend date will be October 12, 2012, the first business day following the payment date for the cash distribution.
http://ih.advfn.com/p.php?pid=nmona&article=54248766
http://investorshub.advfn.com/Sycamore-Networks-Inc-SCMR-2190/
Patent awarded 9/19/2012. Coincidence?
Sycamore Networks Assigned Patent
Targeted News Service
By Targeted News Service
ALEXANDRIA, Va., Sept. 19 -- Sycamore Networks, Chelmsford, Mass., has been assigned a patent (8,271,610) developed by five co-inventors for a "distributed content caching solution for a mobile wireless network." The co-inventors are Yang Cao, Westford, Mass., Michael Nicolazzo, Philadelphia, William M. Turner, Higganum, Conn., Talbot Hack, Ann Arbor, Mich., and Moshe Suberri, Voorhees, N.J.
The abstract of the patent published by the U.S. Patent and Trademark Office states: "A method in an electronic device provides local content to a user device in a communication network. The communication network includes an access network and a core network. In the access network, a content request is intercepted from the user device, which may be formatted according to a network interface. The content request may include a request for data content. Protocol layers associated with an active data session may be terminated so that an edge gateway device may extract and inject packets into the data stream without involving the core network. A cache may be maintained in the access network."
The patent application was filed on March 5, 2009 (12/398,735). The full-text of the patent can be found at patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=8,271,610&OS=8,271,610&RS=8,271,610
Written by Arpi Sharma; edited by Anand Kumar.
AS0919AK0919-786576
http://www.equities.com/news/headline-story?dt=2012-09-19&val=491721&cat=tech
Cash! Cash! Get yer red hot cash!
Sycamore Networks: Favorable Risk/Reward Trading Near Net-Cash Levels
We are recommending a speculative long position in Sycamore Networks (SCMR) as we believe downside is limited by its substantial cash balance (over $15.00 in net cash on the balance as of the most recent quarter, compared to a recent stock price of $17.05). We believe news of telecom operators adopting SCMR’s new product, IQStream, could serve as significant near-term catalyst.
Background: Historically, Sycamore Networks sold bandwidth solutions products, including optical switches, multiservice cross-connects, and multiservice access platforms, to wireline and wireless network service providers throughout the world. Competition in its core business was intense and the bargaining power of its customers was high due to significant customer concentration. As a result, SCMR has consistently lost share to larger rivals such as Cisco (CSCO), Alcatel-Lucent (ALU), and Huawei (Private) and has reported GAAP net losses in each of the past four years.
Why We Like the Stock
Disciplined expense management: To management’s credit, SCMR has been very diligent in minimizing expenses not associated with R&D. While it continues to use cash, the company has reduced its cash burn to $3.5 - $4.0 million a quarter. Thus, we believe its substantial cash balance ($442.5 million as of the last quarter) should remain intact for several quarters.
Smart new investors: In its Q1 11 SEC filing, legendary value investor Seth Klarman’s firm, The Baupost Group, reported a 100,000 share holding. In its Q2 11 filing, Baupost increased its stake to 225,000 shares. Its estimated average cost was $23.04, 35% above SCMR’s current stock price! Any familiar with Mr. Klarman’s record will know that it is a rare and wonderful event to purchase a company held by Baupost at such a discount to their purchase price.
Potential catalyst in its IQStream Product: A problem with investing in companies trading at or near net cash levels is the lack of a near-term catalyst. In SCMR’s case, its new product, IQStream, could be that catalyst. The IQStream is designed to help wireless telecom operators manage bandwidth constraints during peak periods of usage. Management has not provided financial details regarding IQStream, but it did state that at least one telecom operator had moved from a lab trial to field trials. An actual contract signing or more detailed information provided in the upcoming earnings call could provide a significant boost to the current share price.
Valuation
SCMR is currently trading at 1.1 times cash. Measuring upside is difficult to the newness of SCMR’s technology and the lack of financial data available, but we think it is safe to that risk-to-reward is compelling at this level. SCMR is set to report Q4 11 earnings on August 29th. We are expecting the stock to rally on favorable news and/or a new IQStream contract signing.
Risks
IQStream flops;
SCMR loses its financial discipline;
Management opts to spend cash on an acquisition rather than returning cash to shareholders.
http://seekingalpha.com/article/289514-sycamore-networks-favorable-risk-reward-trading-near-net-cash-levels
Look what popped up!
Why Sycamore Networks Popped
By Evan Niu, CFA, The Motley Fool
Posted 5:07PM 09/20/12
Posted under: Investing
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Sycamore Networks (NAS: SCMR) have popped today by as much as 19%, after the company announced preliminary fourth quarter results.
So what: Revenue came in at $16.8 million, well above the Street's estimates of $12.9 million. Full year sales were $57.3 million, also topping estimates. The company said all sales were derived from its intelligent bandwidth management offerings. Total cash and investments are up to $439.4 million.
Now what: Additionally, Sycamore announced that its board has approved a special cash distribution of $10 per share being paid out next month. Full financial results are pending impairment tests, and the company thinks any possible charges would be, at most, $2 million. After these tests are completed, it will release its finalized figures but, for now, investors seem rather pleased with its top line result and the cash distribution.
Interested in more info on Sycamore Networks? Add it to your watchlist by clicking here.
The article Why Sycamore Networks Popped originally appeared on Fool.com.
http://www.dailyfinance.com/2012/09/20/why-sycamore-networks-popped/
Is it just me, or does this seem too good to be true?
SCMR
The Company also announced that, on September 19, 2012, its Board of Directors approved a special cash distribution of $10.00 per share of common stock. The cash distribution will be paid on October 11, 2012 to stockholders of record as of October 1, 2012. In accordance with NASDAQ Rule 11140(b), the ex-dividend date will be October 12, 2012, the first business day following the payment date for the cash distribution.
http://ih.advfn.com/p.php?pid=nmona&article=54240737&symbol=SCMR