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SAN FRANCISCO--(BUSINESS WIRE)-- Diamond Foods, Inc. (Nasdaq: DMND) today announced that its Board of Directors approved a cash dividend of $0.045 per common share. The dividend will be payable on July 31, 2009, to common stockholders of record as of July 24, 2009.
About Diamond
Diamond Foods is a leading branded food company specializing in processing, marketing and distributing culinary nuts and snack products under the Diamond(R) , Emerald(R) and Pop Secret(R) brands.
Source: Diamond Foods, Inc.
July 15, 2009 4:01 PM EDT
http://www.streetinsider.com/Press+Releases/Diamond+Foods+Announces+Quarterly+Dividend+of+$0.045/4796768.html
i'm no expert in bmb, i don't own any shares. i've been watching and doing some digging. i don't know everything about bmb but here are my humble opinions:
1. the company will benefit from higher gas prices but not much
2. no positive effect
3. they have issues in foreign countries as well - no cakewalks
my advice: read the most recent 10k and pay attention to part 1a, risk factors
all imho
you might not have to wait too long.
Still overvalued imho. If this goes to .50 I might be interested.
I saw an article in the wsj yesterday that said Soros is investing in China, Brazil and India. Bobs seems like a good long-term play. Bcl, what do you think about the debt load, is it manageable?
Looks like a bearish trend. I'm not buying here. Anyone disagree?
Good luck everyone! I probably won't be checking here much so send a pm if you need to get in touch or meet me on one of the other boards. I sold a while back for a loss.
Let me know if there is a violation of TOU. I did not see one yet. Thanks.
Anyone still tracking this stock?
Sam Zell also seems interested in the region according to reports.
http://online.wsj.com/article/SB123836991299767645.html
what happened? did it change symbols?
just saw the news. do you plan to buy shares tomorrow?
thanks, that sounds like a great plan.
which stocks are you watching?
thanks for the bollie tip, i missed that. the only problem with bobs is the ultra-low volume and huge spread. lately the spread has tightened but you could easily get trapped in this stock. that happened to me before with closely held light trading stocks! what industries do you favor short-term? tia
Yep, holiday in Canada, short week in US. Low volume on the shares I am tracking.
For a long-term pick - check out BOBS.
Heavy debt continues to weigh on the sp. Chart doesn't look too good - might be heading for 14 or even 10. We'll see.
Pretty light volume, price settling. Not a bad first day. It looks like there are a lot of nervous investors. This IPO came with many, many restricted shares (more than average) so that too could be weighing on the stock.
Acreage update!
Lots of corn plated this year. Less than 2007 but more than any other year since 1947 (excluding 2007).
7/1/2009 11:02:00 AM
USGC: U.S. Farmers Overcome Adversity, Surpass Expectations
WASHINGTON, D.C., July 1, 2009 – Farmers faced looming adversity during the spring planting season, causing lowered expectations, but ultimately overcame. USDA projects the second-largest corn planting acreage since 1946, after 2007.
Early stages of planting were similar to last year’s conditions. Though low temperatures and frequent precipitation slowed planting in early May, warmer dryer conditions eventually returned, allowing farmers to make accelerated progress in late May. U.S. corn producers planted an estimated 87 million acres, up 1 percent from 2008. U.S. soybean farmers reached a historic high, increasing planting nearly 2 percent from 2008, with 77.5 million acres planted. Together, U.S. corn and soybean producers worked steadfastly to plant a total 164.5 million acres, an increase of nearly 3 percent.
U.S. Grains Council President and CEO Ken Hobbie said U.S agricultural producers continually show their efficiency and ability to produce enough grains to meet market demands. He said America’s farmers demonstrate a loyal commitment to assuring an adequate supply of affordable quality feed despite hardships faced during difficult spring planting. With rapid response to the marketplace, producers continually provide unwavering dedication and allegiance to U.S. and global consumers.
"I cannot say I am surprised by the recent planning projections issued by USDA.
Time and time again, U.S. farmers are faced with adversity, but their commitment to providing an adequate supply of U.S. feed ingredients as well as their dedication to curbing global hunger perseveres," said Hobbie. "Thanks to U.S. farmers, we are able to reassure our global end-users on the reliability of U.S. agriculture and create dependability in the global marketplace for U.S. agricultural products. This is another factual demonstration of U.S. farmers meeting global demand."
Information from surveys are compiled in USDA’s Acreage Report, released on June 30, 2009. Surveys were conducted the first two weeks of June.
www.cattlenetwork.com
5-day chart up, up and away. http://www.google.com/finance?client=ob&q=NASDAQ:DMND
We might test the 52 week high if the pps keeps rising. It's not too far away right now.
Booming! This stock is way up. Today was the IPO.
today is a holiday
By Scott Austin
This morning’s Web roundup:
As we reported last night, underwriters priced LogMeIn Inc.’s initial public offering at $16 a share, at the top of an expected range. LogMeIn begins trading on Nasdaq under the symbol LOGM. It’s the fourth venture-backed company to go public this year, all in the past six weeks. That’s a positive sign for VCs, but liquidity is still very hard to secure, judging by this report from research firm VentureSource detailing a horrible first half for venture capitalists selling their companies or taking them public. Only two companies were sold for more than $100 million in the first half, and both were bought by Cisco Systems Inc….
ZDNet assesses whether investors should buy into LogMeIn’s IPO or not. It’s conclusion: “LogMeIn looks promising and is definitely worth a spot on the watchlist. Buying on an IPO launch, however, rarely pays off.”….
http://blogs.wsj.com/venturecapital/2009/07/01/the-daily-start-up-vcs-need-a-pep-talk-at-the-half/
With all the buying and selling currently occurring in the service station industry it would seem there could be a drag on CASY's asset values. The reason I say that is because several large companies are dumping large strings of stations. Because of the fire sale I would expect to see lower values. But there is a silver lining. Many stations are being shuttered which means less competition.
In case someone missed it:
HOUSTON, June 18, 2009
Hercules Offshore, Inc. announced today that it entered into separate exchange agreements whereby it will acquire and retire $45.8 million aggregate principal amount of its 3.375% Convertible Senior Notes due 2038 in exchange for the issuance of 7,755,440 shares of its common stock and the payment of accrued interest. Approximately $95.9 million of the Convertible Senior Notes will remain outstanding after the closing of the exchange, which is expected to occur on June 23, 2009.
www.marketwatch.com
LogMeIn faces some tough competitors but so did Google and things worked out well with that ipo. Of course, times have changed and ipo's are not what they once were. I expect to see some wide movements in the share price when the shares become available (which should be soon - pricing is scheduled for tomorrow).
From Marketwatch:
After riding out a chilly period, the market for initial public stock offerings looks poised to get a day in the sun this week with the expected debut of software maker LogMeIn Inc.
The roughly $100 million offering by LogMeIn is now oversubscribed "to a strong retail and institutional book," IPO Boutique analyst Scott Sweet wrote late last week, while noting that pricing is at the high end of the $14 to $16 a share range targeted by the firm.
LogMeIn plans to offer 5 million shares of common stock, while executives and other shareholders will sell an additional 1.7 million shares.
Sweet's current rating for the IPO is a 3, or a "Buy." The offering is expected to price Tuesday evening, and LogMeIn anticipates trading under the ticker "LOGM."
Woburn, Mass.-based LogMeIn, founded in 2003 and originally called 3am Labs Inc., provides subscriptions to software that enables users to set up private, remote networks. The company said revenue for the three months ended in March was $17.2 million, up from $9.9 million in the same period a year earlier.
The company showed an 11-cents-a-share profit for the quarter ended in March, but has consistently logged losses over the past three years, according to financial data filed by LogMeIn with the Securities & Exchange Commission.
LogMeIn, which would be the third venture capital-backed firm to go public this year, initially filed for an IPO in Jan. 2008 - though it didn't disclose any terms of an offering at that time.
In addition to venture capital firms, backers of the closely-held company include Intel Corp. /quotes/comstock/15*!intc/quotes/nls/intc (INTC 16.56, +0.18, +1.10%) . Intel will not be selling its roughly 4% stake in the IPO, which it acquired for $10 million in 2007, according to public filings.
A joint-marketing agreement with Intel is key provider of revenue for LogMeIn, the company said in public filings.
LogMeIn said it intends to use proceeds from the IPO for working capital, to develop new services and to acquire other companies.
Underwriters for the offering including J.P. Morgan /quotes/comstock/13*!jpm/quotes/nls/jpm (JPM 34.37, -0.23, -0.67%) , Barclays Capital /quotes/comstock/13*!bcs/quotes/nls/bcs (BCS 18.53, +0.18, +0.95%) and RBC Capital Markets.
OpenTable Inc. /quotes/comstock/15*!open/quotes/nls/open (OPEN 30.10, -0.31, -1.02%) and SolarWinds Inc., the two other venture-backed firms to IPO in 2009, have seen their shares increase in value since becoming available on the public market in May.
Shares of reservation system provider OpenTable have risen from $28.48 to over $33 a share, while those of network management software maker SolarWinds /quotes/comstock/13*!swi/quotes/nls/swi (SWI 16.74, +1.24, +7.97%) have increased from $13.75 to over $15 a share. See related story about OpenTable IPO.
http://www.marketwatch.com/story/logmein-raises-strong-interest-prior-to-ipo
Interesting analysis here fwiw imho...
LogMeIn, the company behind a recent Webware 100-selected remote-desktop application that lets users access files and data on different computers, plans to go public.
According to documents LogMeIn filed with the Securities and Exchange Commission on Friday, the company plans to offer 6.6 million shares. It hopes to price those shares between $14 and $16.
Assuming that LogMeIn completes its filings and is eventually listed on the Nasdaq stock market, it will be faced with enhanced scrutiny. Not only will it be confronted with more, costly regulations at the hands of the Sarbanes-Oxley Act of 2002, it will also have a slew of new stakeholders that will require the company to operate at a high level. It's a tall order.
Regardless, LogMeIn ostensibly believes that it's up to the challenge. So now the question is whether its finances can match its desire. Is LogMeIn financially sound, now performing better than it has in the past? Let's take a look.
Revenue and profit
One of the first things investors look for after considering a stock's price is its financial health. In LogMeIn's case, it's a mixed bag. The company had been incurring a loss for years. Only recently has it been able to generate a profit.
According to its SEC filing, LogMeIn's revenue grew from $11.3 million in 2006 to $51.7 million by the end of 2008. It's currently on track to beat that figure this year, thanks to $17.2 million in generated revenue for the first quarter of 2009.
For the year ended December 31, 2006, LogMeIn incurred a net loss of $6.7 million. And for 2007, it incurred a net loss of $9 million. But by the end of 2008, the company had reduced its losses to $5.4 million. And during the first quarter of 2009, the company enjoyed a profit of $2.1 million.
The fact that LogMeIn finally turned a profit might be a sign of good things to come. During the same period last year, the company lost $3.6 million.
Is it financially healthy?
The balance sheet is an important financial instrument. It tells investors what a company owns and how much it owes to creditors. It does a fine job of giving investors a clear picture of the firm's financial health.
LogMeIn's balance sheet, which was compiled by independent auditors, reports that it currently has $27 million in cash on hand and total assets of $40.7 million.
Besides accounts payable of $1.8 million, long-term liabilities of $133,000, and expenses that haven't been paid of almost $5 million, LogMeIn's principal liability is deferred revenue--cash collected from customers that can't be called revenue until the company performs the action it was paid to complete. That account is valued at $29 million.
The balance of the difference between assets and liabilities is made up by the company's stockholders' equity, which is currently valued at $4.8 million.
LogMeIn seems to be in fine financial health. It has little debt, no major liabilities, and a hefty amount of cash.
Cash management
This brings us to the cash flow statement, a good indicator of the short-term viability of investing in a company. Is it capable of paying its bills? Are executives managing the firm's cash well to ensure future success?
According to its filing, LogMeIn added $10.7 million to its coffers in 2007. For its 2008 calendar year, it added $4.2 million in cash to its books. During the first quarter of 2009, LogMeIn added $4.1 million in cash.
Perhaps more important to investors, the majority of that cash over the years has been added through operating activities. In other words, much of LogMeIn's cash is principally being generated from the sale of its services to customers.
Dividends
For some investors, dividends matter. They show that a company is financially sound and can afford to give some money back. Dividends can also be used to increase awareness for a stock that's being ignored by investors. And since they provide a regular cash flow outside of selling shares, dividends are coveted by some.
According to LogMeIn's filing, it does not intend to issue dividends. The company instead wants to invest in its future growth. That's not uncommon. Most companies so young and new to the public markets do not offer dividends. In fact, Google has never issued a dividend. So LogMeIn looks to be following suit.
Investment strategy
Since investing in a company is a long-term endeavor, most investors want to know what the company has planned. Investing in LogMeIn would be no different. That's why the company listed a variety of plans it has for the future.
"We intend to use the net proceeds to us from this offering for working capital and other general corporate purposes, including the development of new services, sales and marketing activities, and capital expenditures," LogMeIn wrote in its filing. "We may also use a portion of the net proceeds to us for the acquisition of, or investment in, companies, technologies, services, or assets that complement our business."
The bottom line
Is LogMeIn in sound financial health? Ultimately, it's up to the individual investors to decide. But a quick glance at its financial performance tells us that things are going relatively well for LogMeIn.
http://news.cnet.com/8301-17939_109-10275931-2.html
The Pantry Completes Buyout Of 38 Convenience Stores From Herndon Oil - Update
6/30/2009 9:57 AM
(RTTNews) - The Pantry Inc. (PTRY: News ), an independently operated convenience store chain in the southeastern U.S., announced Tuesday that it has completed the previously disclosed acquisition of 38 convenience stores from Herndon Oil Corp, using cash in hand. Financial terms of the deal were not disclosed.
The Sanford, North Carolina-based company said that of the 40 stores included when the acquisition was first announced, one has since been shut down and another was later removed from the transaction. The company expects the transaction to add to its earnings per share in fiscal 2010.
The stores operate under a variety of names, including Flamingo, and are primarily located in the Mobile, Alabama market, with the remainder in Florida, Mississippi and Louisiana, and generated revenues of nearly $152 million for the 12 months ended May 2009.
http://www.rttnews.com/Content/BreakingNews.aspx?Node=B1&Id=993060%20&Category=Breaking%20News
The ticker is LOGM not LOGMF. I will continue to work on the iBox and update charts. This is a new IPO and the symbol is not yet listed (expected to list this week). See yesterday's WSJ for more details.
Welcome to the new LogMeIn forum on InvestorsHub. This is a new IPO scheduled to list this week in the $14-16 range. We welcome all comments, questions and statements regardless of positivity or pessimism. Let's keep it clean guys. Thanks for visiting.
This is the best kind of news. I like the growth in market share but I hope it does not make them a buyout target. Why not a buyout? Because I like this company and do not want it swallowed up. When takeovers and mergers occur many employees usually get layed off and facilities are often shuttered. I think the company is doing great and should remain independent indefinitely. This company is highly profitable and gaining market share. Some say the stock is overvalued due to the gains is pps and high p/e. They could be right but the company seems to be in a very good space hence a slight premium (the p/e is only about 20). Also, the food they make tastes great and is nutritious. If you haven't tried some of their products I would encourage you to do so.
The spread tightened quite a bit and the bid went up. This could indicate accumulation.
A dividend of $0.14/sh was just paid by the company within the past business day or two. This is a great long-term hold imho.
The bid is way down from a few weeks and months back. The insiders are not buying. It seems like no one is buying. There is a big spread on most days and the volume is extremely light. Like I said before, to anyone interested in buying shares I would put in a very low bid but that's just me and what do I know?
Great article in the WSJ yesterday (Heard on the Street section) regarding regional banks. No mention of PSBC, of course, but still a great article. From a recent unaudited PSBC release:
"Despite the loss reported for the first quarter of 2009, Pacific State Bancorp has increased loan loss reserves from 1.95% of gross loans at December 31, 2008 to 2.11% of gross loans at March 31, 2009. In addition, the Company’s risk based capital levels have increased from total risk based capital ratio of 11.50% for the Company and 11.34% for the Bank at December 31, 2008 to 11.74% for the Company and 11.60% for the Bank at March 31, 2009. The minimum total risk based capital level required to be considered “well capitalized” by regulatory standards is 10%."
http://www.pacificstatebank.com/PSBCurrentFinances.html
Bobs is up about 940% since 2004. Too bad I didn't buy some shares back then!! Have you been holding that long, bcl?
Emerald Snack Brand Achieves New Market Share Record
Dramatic Growth Across Its Core Tree Nut Segments of Almonds, Deluxe Mixed Nuts and Whole Cashews
News released June 29th, 2009
SAN FRANCISCO--(BUSINESS WIRE)--Diamond Foods, Inc. (NASDAQ: DMND) today announced that its Emerald brand achieved a new market share record over the 12 week period ended June 13th. Emerald sales in U.S. Food stores grew 48% over the prior year period, causing market share to jump 250 basis points to 8.4%. During this time, Emerald’s dollar sales growth exceeded the growth of the entire snack nut category which increased sales 2.7%.
“Over the last year our focus has been on improving the distribution of our core, high velocity items as well as securing placement of our new products such as Cocoa Roast Almonds and Sea Salt & Pepper Cashews,” said Michael Mendes, President and CEO. “We remain focused on investing in our brands, driving our core item distribution and bringing relevant product innovation to market, which is stimulating category growth despite the current economic environment.”
Growth was particularly strong across the three core tree nut segments. In Almonds, Emerald’s dollar sales grew more than 70% and achieved a fifteen percent share of this market. Its Dry Roasted Almond item is now the number one selling dollar sales item in the segment and the number eight selling shelled snack nut overall. In Deluxe Mixed Nuts, Emerald grew more than 50% reaching a thirteen percent share of the segment. Emerald’s Whole Cashew segment sales increased more than 100%, driving share growth of more than 500 basis points during the period.
About Diamond Foods
Diamond is a leading branded food company specializing in processing, marketing and distributing culinary nuts and snack products under the Diamond®, Emerald® and Pop Secret® brands.
Corporate Web Site: www.diamondfoods.com