Two months since becoming chief executive at Forest Laboratories (FRX), and Brenton Saunders is putting his mark on the drug maker.
On Monday, Forest outlined “Project Rejuvenate,” a plan to cut costs $500 million by 2016, while scaling back research and development efforts and reducing the company’s work force.
It’s been a common story among big pharmaceutical companies. The industry has grown to depend on acquisitions and licensing deals or partnerships with small drug makers rather than in-house efforts to produce the blockbuster products needed to grow sales and offset revenue lost to generic rivals.
Investors seem to approve. At $55.54, the stock surged 8.2% during afternoon market action.
It was actually a pretty busy day for Forest. Though it restructuring plans attracted the most attention, the company also announced the sale of $1 billion of new debt to help fund $400 million in accelerated stock buybacks as part of a larger $1 billion share repurchase plan and a $250 million deal to acquire exclusive rights to the schizophrenia medication Saphris from Merck & Co. (MRK).
Best Dividend Stocks To Watch Right Now: Colgate-Palmolive Company(CL)
Colgate-Palmolive Company, together with its subsidiaries, manufactures and markets consumer products worldwide. It offers oral care products, including toothpaste, toothbrushes, and mouth rinses, as well as dental floss and pharmaceutical products for dentists and other oral health professionals; personal care products, such as liquid hand soap, shower gels, bar soaps, deodorants, antiperspirants, shampoos, and conditioners; and home care products comprising laundry and dishwashing detergents, fabric conditioners, household cleaners, bleaches, dishwashing liquids, and oil soaps. The company offers its oral, personal, and home care products under the Colgate Total, Colgate Max Fresh, Colgate 360 Advisors’ Opinion:
- [By Ben Levisohn]
Shares of Procter & Gamble have dropped 3.2% during the past 12 months, lagging Unilever’s (UL) 2.5% rise, Colgate-Palmolive’s (CL) 8.7% advance and Kimberly-Clark’s (KMB) 3.1% gain.
- [By Kashafa Investment Research]
What works in P&G’s advantage is the fact that the company is already ahead of its peers in the emerging markets. As of 2012, P&G had sales of $33 billion in developing markets as compared to $24 billion for Unilever (UL) and $10 billion for Colgate (CL). This competitive edge over peers will sustain as P&G has product quality, innovation and has a significant marketing budget given its comfortable cash position.
- [By Ben Levisohn]
Shares of Procter & Gamble have gained 0.1% to $81.44 at 2:06 p.m. today, while Unilever (UL) has risen 0.6% to $43.96, Colgate-Palmolive (CL) is little changed at $65.65 and Kimberly-Clark (KMB) has advanced 0.5% to $111.31.
Best Dividend Stocks To Watch Right Now: YPF Sociedad Anonima(YPF)
YPF SOCIEDAD ANONIMA, an energy company, engages in the exploration, development, and production of crude oil, natural gas, and liquefied petroleum gas (LPG) in Argentina. The company also involves in refining, marketing, transportation, and distribution of oil and a range of petroleum products, petroleum derivatives, petrochemicals, LPG, and bio-fuels; and gas separation and natural gas distribution operations. As of December 31, 2010, it had proved reserves of approximately 531 million barrels of oil and 2,533 billion cubic feet of gas; and retail distribution network of 1,622 YPF-branded service stations for automotive petroleum products. The company?s crude oil transportation network includes approximately 2,700 kilometers of crude oil pipelines with approximately 640,000 barrels of aggregate daily transportation capacity of refined products; crude oil tankage of approximately 7 million barrels; and terminal facilities at 5 Argentine ports. In addition, it participates in 3 power stations with an aggregate installed capacity of 1,622 megawatts. The company was founded in 1977 and is based in Buenos Aires, Argentina. YPF SOCIEDAD ANONIMA is a subsidiary of Repsol YPF, S.A.
- [By Arjun Sreekumar]
And second, management had indicated that the February Argentina asset sale to state-owned YPF (NYSE: YPF ) for $800 million in cash marked the end of its asset divestiture program. “[The Argentina] transaction essentially marks the end of a process that Apache began last year to rebalance its portfolio to focus on assets in North America that can grow more predictably combined with international assets that generate substantial free cash flow,” said G. Steven Farris, Apache’s CEO, in a company news release concerning the sale of its Argentinian assets.
- [By Aaron Levitt]
First, the Brazilian government’s populist politics and price controls on various refined petroleum products have continued to destroy PBR’s bottom line. By only allowing Petrobras to sell gasoline at certain prices, the firm actually losses money on its downstream operations. These controls by the Brazilian government extend in other operations of PBR as well, and the threat of an Argentinian-style YPF (YPF) nationalization — however small — is there.
- [By Jonathan Yates]
For investors, the rebound of YPF SA (NYSE: YPF) and Petrobras Argentina (NYSE: PZE), both oil and gas firms in Argentina, should serve as profitable examples for remaining bullish about the long term prospects of Petrobras Brasileiro (NYSE: PBR).
- [By Jonathan Yates]
That is very easy to fix, however. Investors should look at the recent example of YPF SA (NYSE: YPF), the Argentine oil giant. Actions by the government of Argentina drove down the share price. Since then, the country has worked to make YPF SA, and Argentia, more attractive to investors. As a result, YPF SA is up more than 90 percent for 2013. Much of the economic health of Brazil rests on the performance of Petrobras, so more beneficial actions from the Government of Brazil should be expected.
Best Dividend Stocks To Watch Right Now: UMH Properties Inc.(UMH)
UMH Properties, Inc. (UMH) is a real estate investment trust. The firm engages in the ownership and operation of manufactured home communities. It leases manufactured home spaces to private manufactured home owners, as well as leases homes to residents. The firm invests in the real estate markets of New York, New Jersey, Pennsylvania, Ohio, and Tennessee. In addition, it invests in debt and equity securities of REITs. United Mobile Homes was incorporated in 1968. The company was formerly known as United Mobile Homes, Inc. UMH Properties is based in Freehold, New Jersey.
- [By John Udovich]
Trailer parks may have a bad reputation, but Yahoo! Finance’s Breakout segment was recently touting trailer parks as a hot new investment area – meaning its time for retail investors who don’t want to invest in physical parks to start taking a closer look at trailer park stocks Equity Lifestyle Properties, Inc (NYSE: ELS), Sun Communities Inc (NYSE: SUI) and UMH Properties, Inc (NYSE: UMH). According to the segment, roughly 6% of Americans lived in trailer homes as of 2012 with the supply of designated trailer parks being quite low because no one wants one in their backyard. Anthony Effinger, the author of another article about trailer parks for Bloomberg, was quoted as saying:
Best Dividend Stocks To Watch Right Now: Matthews International Corporation(MATW)
Matthews International Corporation designs, manufactures, and markets memorialization products and brand solutions for the cemetery and funeral home industries in the United States, Mexico, Canada, Europe, Australia, and Asia. The company’s Bronze segment offers cast bronze memorials and other memorialization products; and cast and etched architectural products, as well as builds mausoleums. Its Casket segment provides wood and metal caskets; and casket components, such as stamped metal parts, metal locking mechanisms for gasketed metal caskets, adjustable beds, interior panels, and plastic ornamental hardware, as well as provides assortment planning and merchandising, and display products to funeral service businesses. The company’s Cremation segment offers cremation equipment; cremation caskets; equipment service and supplies; and cremation urns and memorial products, as well as offers environmental systems; crematory operations and management services; and cremation col umbarium and niche units. Its Graphics Imaging segment provides brand management, pre-press services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering and print process assistance, print production management, digital asset management, content management, and package design services. The company’s Marking Products segment offers a range of marking and coding products and related consumables, and industrial automation products for identifying, tracking, and conveying consumer and industrial products, components, and packaging containers. Its Merchandising Solutions segment provides merchandising displays and systems, such as permanent and temporary displays, custom store fixtures, brand concept shops, interactive kiosks, custom packaging, and screen and digitally printed promotional signage; and offers design and engineering services. The company was founded in 1850 and is based in Pittsburgh, Pennsylvania.
- [By Dan Caplinger]
The first thing to realize about StoneMor is that arcane and flexible accounting rules make it important to dig beneath its GAAP earnings. Growth throughout the industry has been substantial, as up-and-coming Carriage Services (NYSE: CSV ) continued to stay on pace for double-digit sales growth as it rapidly expands its reach. Even well-established player Matthews International (NASDAQ: MATW ) managed to grow revenue by nearly 14% in the quarter that ended in March, although its earnings fell slightly from the year-ago quarter. Still, StoneMor’s sales haven’t been able to rise as quickly as its peers, with its previous report including just a 6% gain in revenue.
Best Dividend Stocks To Watch Right Now: Telular Corporation(WRLS)
Telular Corporation designs, develops, and distributes products and services that utilize wireless networks to provide data and voice connectivity among people and machines primarily in the United States and internationally. It provides machine-to-machine and event monitoring services, including Telguard that comprises a specialized terminal unit, which interfaces with commercial security control panels and communicates with event processing servers to provide real-time transport of alarm signals from residential and commercial locations to an alarm company?s central monitoring station; and TankLink solution that combines a cellular communicator, wireless data services, and a Web-based application into a single offering, which allows end-users to monitor the product level in a given tank vessel. The company also offers fixed cellular terminals for voice, fax, and Internet access over the wireless networks. It sells its products to security equipment distributors, cellular carriers, and value added resellers. The company was founded in 1986 and is headquartered in Chicago, Illinois.
- [By Eric Volkman]
Telular (NASDAQ: WRLS ) will most likely soon be an asset belonging to another company. It has entered into an agreement to be bought by private equity firm Avista Capital Partners for total consideration of $253 million. This consists of $12.61 per share in cash and roughly $18.5 million in assumed debt.
Best Dividend Stocks To Watch Right Now: M&T Bank Corporation (MTB)
M&T Bank Corporation operates as the holding company for M&T Bank and M&T Bank, National Association that provide commercial and retail banking services to individuals, corporations and other businesses, and institutions. It offers business loans and leases; business credit cards; deposit products, such as demand, savings, and time accounts; and financial services, including cash management, payroll and direct deposit, merchant credit card, and letters of credit. The company also provides residential real estate loans; multifamily commercial real estate loans; commercial real estate loans; one-to-four family residential mortgage loans; investment and trading securities; short-term and long-term borrowed funds; brokered certificates of deposit and interest rate swap agreements related thereto; and branch deposits. In addition, it offers foreign exchange, as well as asset management services. Further, the company provides consumer loans, and commercial loans and leases; cred it life, and accident and health reinsurance; and securities brokerage, investment advisory, and insurance agency services. As of December 31, 2009, it had 738 banking offices in New York State, Pennsylvania, Maryland, Delaware, New Jersey, Virginia, West Virginia, and the District of Columbia; a commercial banking office in Ontario, Canada; and an office in George Town, Cayman Islands. The company was founded in 1969 and is headquartered in Buffalo, New York.
- [By , DividendChannel.com]
Looking at the universe of stocks we cover at Dividend Channel, on May 28, First Financial Bancorp (FFBC), Goldman Sachs (GS) and M & T Bank Corp. (MTB) will all trade ex-dividend for their respective upcoming dividends. First Financial Bancorp will pay its quarterly dividend of $0.15 on July 1, Goldman Sachs will pay its quarterly dividend of $0.55 on June 27 and M & T Bank will pay its quarterly dividend of $0.70 on June 30.
- [By Mike Deane]
M&T Bank (MTB) announced its fourth quarter and full year earnings before the bell on Friday, with quarterly GAAP earnings falling from last year’s Q4 while full year earnings rose 11%.
MTB Earnings in Brief
M&T Bank reported quarterly net income of $245.72 million, which was down from last year’s Q4 net income of $296.19 million. The company’s diluted EPS came in at $1.79 for the quarter, down from the $2.23 per diluted common share reported in last year’s Q4 results. MTB missed analysts’ estimates of $1.92 EPS. For the full year, MTB reported EPS of $8.38, marking an 11% increase from last year’s EPS of $7.54
Rene F. Jones, CFO and executive VP, had the following comments about the company’s earnings: “While expenses were elevated by investments in our infrastructure during 2013, M&T achieved a net operating return on average tangible common shareholders’ equity of 18.17% for the full year. Our core capital position strengthened, as the Tier 1 common ratio grew to 9.25% at the 2013 year-end, up 17 basis points from September 30 and 168 basis points higher than at December 31, 2012. We are also pleased with the continued improvement in credit quality. M&T’s liquidity and risk profile was enhanced during the year through several actions, including replacing less liquid investment securities with Ginnie Mae securities and the securitization of loans held in the loan portfolio. During the final two quarters of 2013 we invested heavily in several key areas, including risk management, capital planning and stress testing, regulatory compliance, and other operational and technology initiatives. Those investments will better position M&T for the future.”
No Dividend Change
MTB did not announce a change to its quarterly dividend, and has not raised its dividend since 2007. It should be noted that MTB did not cut its dividend
- [By Paul Ausick]
Sterne Agee’s top pick among regional banks is M&T Bank Corp. (NYSE: MTB). Sterne Agee cut its 2014 earnings per share (EPS) estimate on the Buy-rated bank from $8.20 to $7.90 and the 2015 estimate has been cut from $9.50 to $9.00. The bank’s fundamentals are strong and it continues to experience good organic lending growth. The consensus estimate on M&T shares from Thomson Reuters is around $121.20 yielding an implied gain of 6% based on Friday’s closing price of $114.34. The forward multiple is 13.86 based on the consensus estimate for 2014 EPS of $8.25. Based on the Sterne Agee estimate of $7.90, the forward P/E ratio is around 15.4. M&T’s 52-week range is $95.68 to $119.54.
Best Dividend Stocks To Watch Right Now: Intel Corporation(INTC)
Intel Corporation engages in the design, manufacture, and sale of integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in notebooks, netbooks, desktops, servers, workstations, storage products, embedded applications, communications products, consumer electronics devices, and handhelds. The company also provides system on chip products that integrate its core processing functionalities with other system components, such as graphics, audio, and video, onto a single chip. In addition, it offers chipset products that send data between the microprocessor and input, display, and storage devices, including keyboard, mouse, monitor, hard drive, and CD, DVD, or Blu-ray drives; motherboards designed for desktop, server, and workstation platforms, and that has connectors for attaching devices to the bus; and wired and wireless connectivity products consisting of network adapters and embedded wireless cards used to translate and transmit data across networks. Further, the company provides NAND flash memory products primarily used in portable memory storage devices, digital camera memory cards, and solid-state drives; software products comprising operating systems, middleware, and tools used to develop, run, and manage various enterprise, consumer, embedded, and handheld devices; and software development tools that enable the creation of applications. Additionally, it develops computing platforms, which are integrated hardware and software computing technologies designed to offer an optimized solution. The company sells its products principally to original equipment manufacturers, original design manufacturers, PC components and other products users, and other manufacturers of industrial and communications equipment. It has a strategic alliance with Scientific Conservation Inc. Intel Corporation was founded in 1968 and is based in Santa Clara, California.
- [By Benjamin Pimentel]
Chip stocks also were mostly up, with shares of Broadcom Corp. (BRCM) gaining nearly 2% and Intel Corp. (INTC) up a fraction. The Philadelphia Semiconductor Index (SOX) edged higher by 1%.
- [By John Udovich]
Lisa Su, the SVP and GM of Global Business Units for Advanced Micro Devices, Inc (NYSE: AMD) along with Ruth Cotter, the Director of Investor Relations, have just given a presentation at the JPMorgan Global Technology, Media and Telecom Conference that investors in the company along with Intel Corporation (NASDAQ: INTC) and NVIDIA Corporation (NASDAQ: NVDA) might want to take a look at. I should first mention that we previously had an open position in Advanced Micro Devices in our SmallCap Network Elite Opportunity (SCN EO) portfolio from roughly last summer up until late January when we locked in a small loss. We got out not because we don’t believe in AMD’s long term potential, but because our SCN EO is a trading portfolio rather than a long term buy and hold portfolio. In addition, AMD’s shares had sunk again after the company reported earnings – a repeat performance of what happened after the last three previous earnings reports. With that in mind, here are some highlights from the AMD presentation at the JPMorgan Global Technology, Media and Telecom Conference (Note: There is a transcript available on SeekingAlpha here):
- [By Ashraf Eassa]
Initially, Alan Wake was touted as an open-world masterpiece with a particular focus on advanced physics. Intel (NASDAQ: INTC ) , for instance, used an early build of the game — which had pretty remarkable effects at the time — to show what kinds of games could use the horsepower that a quad-core Core 2 Quad processor could enable. Shortly thereafter, Microsoft took over the publishing rights and killed the PC version.
- [By Ashraf Eassa]
The crown jewel of Intel’s (NASDAQ: INTC ) competitive advantage is, above all else, the company’s leading-edge manufacturing technology. In today’s world, any company can license great CPU and graphics IP and develop a processor for just about any market segment other than PCs. The only way Intel can truly differentiate is by having manufacturing technology that no other company can match. While Intel claims to have a manufacturing lead, it’s worth peeling back these claims and understanding exactly what’s going on here.
Best Dividend Stocks To Watch Right Now: Avon Products Inc. (AVP)
Avon Products Inc. manufactures and markets beauty and related products worldwide. Its product categories include color cosmetics, fragrances, skin care, and personal care; fashion jewelry, watches, apparel, footwear, and accessories; and gift and decorative products, housewares, entertainment and leisure, and children?s and nutritional products. Avon Products Inc. markets its products through direct selling and independent representatives, as well as through distributorships. The company was founded in 1886 and is based in New York, New York.
- [By WWW.DAILYFINANCE.COM]
Getty Images From a door-to-door selling icon stocking up on blush after a disappointing quarter to several hotel chains checking in with strong occupancy trends, here’s a rundown of the week’s smartest moves and biggest blunders in the business world. Hotels — Winners Hoteliers were apparently hopping during the first quarter. Despite the iffy weather and the equally iffy economy, the leading chains reporting this week posted surprisingly robust activity. Revenue per available room is a key metric because it tracks occupancy levels as well as prevailing overnight rates. The industry’s doing well when RevPAR is positive, and that’s just what we saw with this week’s reports. Choice Hotels (CHH), Marriott (MAR), and Hyatt (H) clocked in with RevPAR increases of 5.6 percent, 6.3 percent and 6.5 percent, respectively. Twitter (TWTR) — Loser Shares of Twitter hit an all-time low this week after the company posted disappointing user growth. Sure, the “all-time low” remark needs to be accompanied by the caveat that Twitter has only been trading publicly for less than six months. It’s still a grim milestone for last year’s most anticipated debutante. Twitter’s revenue growth was fine, propelled by the recent success of its monetization initiatives. Its outlook was upbeat. However, the one thing that haunted investors this week was that Twitter had just 14 million more unique monthly visitors than it had a quarter earlier. That kind of sequential uptick would’ve impressed at most companies, but Twitter trades at a juicy premium to the market. #Letdown. J.C. Penney (JCP) — Winner The struggling department store operator isn’t out of the woods just yet, but at least one supplier is offering up encouraging insight. PVH (PVH) was presenting at an investor conference in Miami earlier in the week when its CEO offered up an encouraging perspective. “The Penney’s business is running on or ahead of plan and given what their sales trends are,” said CEO Manny Chirico,
- [By Rick Munarriz]
4. Avon stalling
Avon (NYSE: AVP ) has spent decades making its customers look good, but now they’re not returning the favor. Avon shares plunged on Thursday after the door-to-door seller of cosmetics and housewares posted smeared financials.
- [By Jonathan Berr]
Earlier this year, Chinese newspapers reported claims that Nu Skin (NUS), which provides personal care products, violated the country’s pyramid scheme losses. Although NUS stock was rallying today, shares still remain down more than 40% this year. NuSkin gets more than half of its revenue from the most populous country. Avon (AVP), which is fighting double-digit declines in representatives, is off about 15%. Tupperware is off similarly.
Best Dividend Stocks To Watch Right Now: Chevron Corporation(CVX)
Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. It operates in two segments, Upstream and Downstream. The Upstream segment involves in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as holds interest in a gas-to-liquids project. The Downstream segment engages in the refining of crude oil into petroleum products; marketing of crude oil and refined products primarily under the Chevron, Texaco, and Caltex brand names; transportation of crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacture and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. It a lso produces and markets coal and molybdenum; and holds interests in 13 power assets with a total operating capacity of approximately 3,100 megawatts, as well as involves in cash management and debt financing activities, insurance operations, real estate activities, energy services, and alternative fuels and technology business. Chevron Corporation has a joint venture agreement with China National Petroleum Corporation. The company was formerly known as ChevronTexaco Corp. and changed its name to Chevron Corporation in May 2005. Chevron Corporation was founded in 1879 and is based in San Ramon, California.
- [By Aaron Levitt]
While most of the energy sector is dominated by large-cap oil stocks like behemoth Chevron (CVX) or small-fry wildcatters just getting started, the truth is that firms in the middle could be some of the sector’s best bets.
- [By Robert Rapier]
One has to keep in mind is that the “oil industry” is not a unified, monolithic entity. Chevron (NYSE: CVX) has a major presence in California (it’s also headquartered there), and is among those who have long expressed skepticism at the Monterey’s potential. In a statement for CNBC story on the Monterey Shale more than a year ago, Chevron wrote “Chevron does not see the same level of promise in the Monterey Shale as other companies…we have not been encouraged by the results of the wells we have drilled into the formation.”
- [By David Dittman]
Question: I recently purchased Chevron (NYSE: CVX) at $113 and it has run to $126. Is it prudent to take some profits?
Answer: If Chevron has come to represent an outsized portion of your portfolio, yes. If you’re diversified by sector and company, I’d say let this winner run.
- [By Robert Rapier]
It may seem a bit ironic, but on the day that the National Climate Assessment report was released, the Standard & Poor’s Energy Index reached a new record high. This index of 44 companies includes major energy names like ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), ConocoPhillips (NYSE: COP), Halliburton (NYSE: HAL), Kinder Morgan (NYSE: KMI), Peabody (NYSE: BTU) and Valero (NYSE: VLO). All of the companies in the index produce or enable the production of fossil fuels, which end up as carbon dioxide in the atmosphere.
Best Dividend Stocks To Watch Right Now: Vornado Realty Trust(VNO)
Vornado Realty Trust is a privately owned real estate investment trust. The trust engages in investment, ownership, and management of commercial real estate. It invests in the real estate markets of United States. The trust primarily invests in office, industrial and retail properties. Vornado Realty Trust is based in New York, New York.
- [By Anna Prior]
Vornado Realty Trust sa(VNO)id its board of trustees has approved a plan to spin off the commercial property owner’s shopping center business into a new publicly traded real-estate investment trust.
- [By Robert Hsu]
Name Type of Security Recommendation Kinder Morgan Energy Partners L.P. (NYSE: KMP) MLP August 15, 2013 TeeKay LNG Partners L.P. (NYSE: TGP) MLP September 16, 2013 PowerShares S&P 500 BuyWrite Portfol ETF (NYSE Arca: PBP) Buy-Write ETF September 30, 2013 Madison Covered Call Equity Strtgy Fd (NYSE: MCN) Buy-Write ETF September 30, 2013 Nuveen Equity Premium Opportunity Fund (NYSE: JSN) Buy-Write ETF September 30, 2013 BlackRockEnhanced Dividend Achievers Tr (NYSE: BDJ) Buy-Write ETF September 30, 2013 Vornado Realty Trust (NYSE: VNO) Real Estate
Trust September 26, 2013
Robert Hsu is the editor of Permanent Wealth Investor and a former hedge fund portfolio manager at Wall Street powerhouse Goldman Sachs. He retired from Goldman at age 31. He since has come out of retirement to establish and preside over his money management firm, Absolute Return Capital Advisors. His retirement experience has given him his current mission: helping investors like you achieve their goal of comfortable retirement through profitable income strategies.