Disappointing retail sales and consumer confidence figures have thrown a wrench in the market’s rally today. As of 2:45 p.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI ) is off by 29 points, or 0.19%.
Earlier today, the Department of Commerce released figures for nationwide March retail sales (link opens PDF). The data showed that Americans spent 0.4% less last month, marking the largest decline in nine months. Economists surveyed by Bloomberg had expected no change in the reading.
In other bad news, the University of Michigan Consumer Sentiment Index dropped to 72.3 in its preliminary April reading. That’s the lowest level since July and well below the consensus forecast of 79.3. According to an economist quoted by MarketWatch.com, “People presumably are responding to the news the Congress chose to implement the sequester; the cash-flow drain imposed by the payroll tax increase can’t be helping either.”
On the individual-company front, two of the nation’s largest banks reported first-quarter earnings today. Net income at JPMorgan Chase (NYSE: JPM ) increased by an impressive 33%, and the bank originated 37% more mortgages than it did in the same quarter of last year. As my colleague John Grgurich put it, “Quarter after quarter, JPMorgan continues to perform at the highest level, even given continuing challenging economic conditions and an already softening mortgage market.”
Hot Promising Companies To Watch In Right Now: EV Energy Partners LP (EVEP)
EV Energy Partners, L.P. (the Partnership) is engaged in the acquisition, development and production of oil and natural gas properties. As of December 31, 2011, the Company’s properties were located in the Barnett Shale, the Appalachian Basin (which includes the Utica Shale), the Mid Continent areas in Oklahoma, Texas, Arkansas, Kansas and Louisiana, the San Juan Basin, the Monroe Field in Northern Louisiana, the Permian Basin, Central and East Texas (which includes the Austin Chalk area), and Michigan. On November 1, 2011, the Company acquired oil and natural gas properties in the Mid Continent area. On December 1, 2011, the Company along with certain institutional partnerships managed by EnerVest, acquired oil and natural gas properties in the Barnett Shale. It acquired a 31.02% proportional interest in these properties. On December 20, 2011, the Company, along with certain institutional partnerships managed by EnerVest, acquired additional oil and natural gas properties in the Barnett Shale. It acquired a 31.63% proportional interest in these properties. On February 7, 2012, the Company along with certain institutional partnerships managed by EnerVest, had a second closing on the oil and natural gas properties, and acquired a 31.63% proportional interest in these properties.
The Barnett Shale properties are located in Denton, Parker, Tarrant and Wise counties in Northern Texas. Its portion of the estimated net proved reserves as of December 31, 2011, was 647.4 one billion cubic feet equivalent (Bcfe), 72% of which is natural gas. During 2011, the Company drilled 35 wells. EnerVest operates wells representing 100% of its estimated net proved reserves in this area, and the Company owns an average 29% working interest in 976 gross productive wells.
The Company’s activities are concentrated in the Ohio and West Virginia areas of the Appalachian Basin. Its Oh io area properties are producing from the Knox and Clinton f! ormations and other Devonian age sands in 41 counties in Eastern Ohio and 11 counties in Western Pennsylvania. Its West Virginia area properties are producing from the Balltown, Benson and Big Injun formations in 23 counties in North Central West Virginia. Its estimated net proved reserves as of December 31, 2011, were 126.4 Bcfe, 76% of which is natural gas. During 2011, it drilled 33 grosswells, 26 of which were completed. EnerVest operates wells representing 92% of its estimated net proved reserves in this area, and it owns an average 41% working interest in 8,670 gross productive wells.
The properties are located in 47 counties in Oklahoma, 17 counties in Texas, four parishes in North Louisiana, one county in Kansas and six counties in Arkansas. The Company’s estimated net proved reserves as of December 31, 2011, were 81.2 Bcfe, 63% of which is natural gas. During 2011, it drilled 82 wells, all of which were completed. Ener Vest operates wells representing 33% of its estimated net proved reserves in this area, and it owns an average 12% working interest in 1,864 gross productive wells.
San Juan Basin
The properties are located in Rio Arriba County, New Mexico and La Plata County in Colorado. The Company’s estimated net proved reserves as of December 31, 2011, 68.6 Bcfe, 59% of which is natural gas. During 2011, it drilled two wells, one of which were completed. EnerVest operates wells representing 94% of its estimated net proved reserves in this area, and it owns an average 71% working interest in 227 gross productive wells.
The properties are located in two parishes in Northeast Louisiana. The Company’s estimated net proved reserves as of December 31, 2011, were 60.9 Bcfe, 100% of which is natural gas. During 2011, it drilled one well, which was completed. EnerVest operates wells representing 100% of its estimated net proved reserves in this area, and it owns an average 100% working i! nterest i! n 3,930 gross productive wells.
The properties are located in the Yates, Seven Rivers, Queen, Morrow, Clear Fork and Wichita Albany formations in four counties in New Mexico and Texas. The Company’s estimated net proved reserves as of December 31, 2011, were 54.1Bcfe, 37% of which is natural gas. During 2011, it did not drill any wells. EnerVest operates wells representing 99% of its estimated net proved reserves in this area, and it owns an average 93% working interest in 160 gross productive wells.
Central and East Texas
The properties produce primarily from the Austin Chalk formation and are located in 30 counties in Central and East Texas. Its portion of the estimated net proved reserves as of December 31, 2011 was 60.9 Bcfe, 46% of which is natural gas. During 2011, the Company drilled 16 gross wells, 15 of which were completed. EnerVest operates wells representing 93% of its estimated net proved reserv es in this area, and it owns an average 12% working interest in 1,829 gross productive wells.
The properties are located in the Antrim Shale reservoir in Otsego and Montmorency counties in northern Michigan. The Company’s estimated net proved reserves as of December 31, 2011, were 44.9 Bcfe, 100% of which is natural gas. During 2011, it did not drill any wells. EnerVest operates wells representing 99% of its estimated net proved reserves in this area, and it has an average 84% working interest in 370 gross productive wells.
- [By Robert Rapier]
VNR is one of 14 companies/partnerships that are categorized as exploration and production, or “upstream.” Other notable entries in this category include BreitBurn Energy Partners (Nasdaq: BBEP), Linn Energy (Nasdaq: LINE), Memorial Production Partners (Nasdaq: MEMP), QR Energy (NYSE: QRE), Legacy Reserves (Nasdaq: LGCY), EV Energy Partners (Nasdaq: EVEP), and Mid-Con Energy Partners (Nasdaq: MCEP).
- [By Mike Deane]
Before the opening bell on Monday morning, EV Energy Partners, L.P. (EVEP) reported its fourth quarter earnings, posting higher oil and natural gas production compared to last year’s same quarter.
EVEP’s Earnings in Brief
EVEP reported fourth quarter revenues of $78,59 million, which were up slightly from last year’s Q4 figure of $74.40 million. EV Energy posted a net loss of $50.19 million for its Q4, a larger loss than last year’s Q4 loss of $9.88 million. EVEP reported a net loss of $1.06 per diluted limited partner unit, which down a large amount from last year’s loss of 23 cents. EVEP missed analysts’ revenue estimates of 19 cents EPS on revenues of $90.82 million. EVEP’s production came in at 10.8 Bcf of natural gas, 240 MBbls of oil and 580 MBbls of natural gas liquids, or 170.5 MMcfe/day for the fourth quarter.
EV Energy Partners has not raised its dividend since August 2012, when the company bumped its quarterly payout from 76 cents to 77 cents. The company paid its most recent dividend on February 14, and we expect that it will declared its next quarterly distribution within the next few months.
EVEP shares were inactive in pre-market trading. YTD, the company’s stock is up 1.42%.
Hot Promising Companies To Watch In Right Now: Partner Communications Company Ltd.(PTNR)
Partner Communications Company Ltd. provides various telecommunications services in Israel. It offers cellular telephony services on GSM/GPRS and UMTS/HSDPA networks. The company also provides basic services, including domestic mobile calls, international dialing, roaming, voice mail, short message services, intelligent network services, content based on its cellular portal, data and fax transmission, and other services. In addition, it offers Internet services provider services that provides access to the Internet, as well as home WiFi networks; value added services, such as anti-virus and anti-spam filtering; and transmission services; and Web video on demand services, music tracks, and games. Further, the company provides voice over broadband and primary rate interface fixed-line telephone services; and data capacity services. Additionally, it offers content services comprising voice mail, text, and multimedia messaging, as well as downloadable wireless data application s, including ring tones, music, games, and other informational content; and sells handsets, phones, routers, and related equipment. The company markets its products through its sales centers, business sales representatives, traditional networks of specialized dealers, and non-traditional networks of retail chains and stores under the Orange brand name. Partner Communications Company Ltd. was founded in 1997 and is headquartered in Rosh Ha-ayin, Israel.
- [By Roberto Pedone]
Another under-$10 wireless telecom player that’s starting to move within range of triggering a major breakout trade is Partner Communications (PTNR), a telecommunications company, provides cellular and fixed-line telecommunication services in Israel. This stock is off to a strong start in 2013, with shares up sharply by 29%.
If you take a look at the chart for Partner Communications, you’ll notice that this stock has been trending sideways for the last month, with shares moving between $7.28 on the downside and $7.96 on the upside. Shares of PTRN are bucking the overall market weakness today as the stock starts to move within range of triggering a breakout trade above the upper-end of its sideways trading chart pattern.
Market players should now look for long-biased trades in PTNR if it manages to break out above some near-term overhead resistance levels at $7.80 to $7.85 a share and then once it clears its 52-week high at $7.96 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average volume of 107,303 shares. If that breakout triggers soon, then PTNR will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $10 to $12.20 a share.
Traders can look to buy PTNR off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at $7.38 to $7.28, or below its 50-day at $6.97 a share. One can also buy PTNR off strength once it clears those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.
Hot Promising Companies To Watch In Right Now: Bottomline Technologies Inc. (EPAY)
Bottomline Technologies (de), Inc. provides cloud-based payment, invoice, and banking solutions to corporations, insurance companies, financial institutions, and banks worldwide. Its solutions are used to streamline, automate, and manage processes and transactions involving global payments, invoice receipt and approval, collections, cash and document management, risk mitigation, reporting, and document archive. The company’s products include cash management and treasury platforms that enable banks to offer ACH and BACS payments, wires, international payments, check production, balance and information reporting, and cash management facilities; and legal spend management solutions, which integrate with claims management, and time and billing systems to automate legal invoice management processes. It also offers Paymode-X, a business-to-business electronic settlement network, such as online access to purchase orders, invoices, payments, and remittance details, as well a s comprehensive workflow and turnkey vendor enrollment and support; and WebSeries and C-Series, the payment and document automation solutions that generate payment instructions along with consolidated bank reporting of cash activity. In addition, the company provides forms management, mobile documentation, workflow automation, and payments solutions to healthcare organizations. Further, it offers SWIFT access service that enables corporations exchange financial information with their banks and counterparties. Additionally, the company provides consulting, project implementation, and training services; and consumable products for laser check printing that comprise magnetic ink character recognition toner and blank-paper check stock, as well as printers and printer-related equipment. Bottomline Technologies (de), Inc. sells its products directly through sales force, as well as through various channel partners and resellers. The company was founded in 1989 and is headquartered in Portsmouth, New Hampshire.
- [By Steve Symington]
What: Shares of Bottomline Technologies (NASDAQ: EPAY ) jumped more than 10% Friday after the cloud-based financial transaction specialist reported solid fiscal first quarter 2013 results.
- [By Lisa Levin]
Bottomline Technologies (de) (NASDAQ: EPAY) shares gained 12.03% to touch a new 52-week high of $35.20 after the company reported upbeat Q1 results.
Hot Promising Companies To Watch In Right Now: ICG Group Inc (ICGE)
ICG Group, Inc. (ICG), formerly Internet Capital Group, Inc., acquires and builds Internet software and services companies. ICG operates in two business segments: the core reporting segment and the venture reporting segment. The Company’s core reporting segment includes those companies in which its management provides strategic direction and management assistance. Its venture reporting segment includes companies to which it generally devote less capital than it does to its core companies and, therefore, in which it holds relatively smaller ownership stakes than it does in the core companies. As of December 31, 2011, its equity core companies consisted of Channel Intelligence, Inc., Freeborders, Inc. and WhiteFence, Inc. As of December 31, 2011, its venture companies consisted of Acquirgy, Inc., GoIndustry-DoveBid plc and SeaPass Solutions Inc. In April 2012, it acquired MSDSonline Inc. In December 2012, the Company aquired 85% of interest in Procurian Inc. In February 20 13, Google Inc acquired Channel Intelligence, Inc. one of the consolidated companies of ICG.
The Company is focused on the software and services markets, particularly on companies in the cloud-based software and services sector. Once the Company acquires an interest in a company, it works to assume an active role in the development and growth of the Company, providing both strategic guidance and operational support. The Company provides strategic guidance to its companies relating to, among other things, market positioning, business model and product development, strategic capital expenditures, mergers and acquisitions and exit opportunities. In addition, it provides operational support to help its companies manage day-to-day business and operational issues and implement the practices in the areas of finance, sales and marketing, business development, human resources and legal services.
GovDelivery Holdings, Inc.
GovDelivery Holdings, I nc. (GovDelivery) is a provider of government-to-citizen com! munication solutions. GovDelivery’s digital subscription management software-as-a-service (SaaS) platform enables government organizations to provide citizens with access to relevant information by delivering new information through e-mail, mobile text alerts, really simple syndication (RSS) and social media channels from United States and United Kingdom government entities at the national, state and local levels.
Investor Force Holdings, Inc.
Investor Force Holdings, Inc. (InvestorForce) is a financial software company specializing in the development of online applications for the financial services industry. InvestorForce provides pension consultants and other financial intermediaries with a Web-based enterprise platform that integrates data management with robust analytic and reporting capabilities in support of their institutional and other clients. InvestorForce’s applications provide investment consultants with the ability to conduct ana lysis and research into client, manager and market movement and to produce timely, automated client reports.
Procurian Inc. (Procurian) is a specialist in procurement solutions, which partners with transformational business to drive sustainable changes to their cost structures on an accelerated basis. Procurian integrates superior market intelligence with its customers’ businesses to optimize spending and deliver savings.
Channel Intelligence, Inc.
Channel Intelligence, Inc. (Channel Intelligence) is a technology and marketing services company that helps retailers, manufacturers and other advertisers make their products and services easier for consumers to find and buy online and in local retail stores. Through its technologies and product database, Channel Intelligence offers online marketing services, such as display advertising, manufacturer-based content and where-to-buy, paid search, shopping engine management, social marketing, Web storefronts, order manage! ment and ! robust performance analytics. With its range of services, Channel Intelligence helps its customers support their consumers through all phases of the sales funnel, from lead generation to consideration to purchase and delivery.
WhiteFence, Inc. (WhiteFence) is a Web services provider used by household consumers to compare and purchase essential home services, such as electricity, natural gas, telephone and cable/satellite television. WhiteFence reaches customers directly through company-owned Websites and through its network of exclusive channel partners that integrate the Web services applications into their own business processes and Websites.
Acquirgy, Inc. (Acquirgy) specializes in direct response marketing services and technology, which provides customers with a range of direct marketing products and services. Acquirgy helps market its products and services on the Internet and through other media channels, such as television, radio, and print advertising.
GoIndustry-DoveBid plc (GoIndustry)
GoIndustry-DoveBid plc (GoIndustry) is an in auction sales and valuations of used industrial machinery and equipment. GoIndustry combines traditional asset sales experience with e-commerce technology and advanced direct marketing to service the needs of multi-national corporations, insolvency practitioners, dealers and asset-based lenders worldwide.
SeaPass Solutions Inc.
SeaPass Solutions Inc. (SeaPass) develops and markets processing solutions that enables insurance carriers, agents and brokers to transmit and receive data in real time by leveraging existing systems to interact automatically. The Company’s technology allows information to be accessed in real time, which increases efficiency across all lines of the insurance business.
- [By Luke Jacobi]
ICG Group (NASDAQ: ICGE) rose 9.74 percent to $15.39 after the company announced the sale of Procurian to Accenture plc (NYSE: ACN) for $375 million in cash.
- [By Jake L’Ecuyer]
ICG Group (NASDAQ: ICGE) was also up, gaining 9.77 percent to $15.39 after the company announced the sale of Procurian to Accenture plc (NYSE: ACN) for $375 million in cash.
Hot Promising Companies To Watch In Right Now: Silicom Ltd(SILC)
Silicom Ltd. engages in the design, manufacture, marketing, and support of connectivity solutions for a range of servers and server based systems in the North America, Europe, and internationally. The company primarily offers high-end server networking cards with and without bypass that are known as server adapters. Its server adapters are used in various applications that include security appliances, wide area network optimization appliances, load balancing and traffic management appliances, network-attached storage, video on demand servers, content delivery servers, Internet service providers/Web hosting, and high end computing. Silicom Ltd. also offers intelligent and programmable cards, such as encryption acceleration cards and redirector cards; intelligent stand alone bypass units; 10 Gbps products with and without bypass; and server to appliance converters. It markets its products through original equipment manufacturers, distributors, and resellers. The company was founded in 1987 and is based in Kfar Sava, Israel.
- [By Lisa Levin]
Silicom (NASDAQ: SILC) shares reached a new 52-week high of $60.71 as the company announced upbeat quarterly results.
Posted-In: 52-Week HighsNews Intraday Update Markets Movers
- [By Lisa Levin]
Silicom (NASDAQ: SILC) jumped 33.10% to $61.88 as the company announced upbeat quarterly results.
Netflix (NASDAQ: NFLX) moved up 16.86% to $389.98 after the company reported better-than-expected fourth-quarter results.
Hot Promising Companies To Watch In Right Now: Omeros Corporation(OMER)
Omeros Corporation, a clinical-stage biopharmaceutical company, engages in discovering, developing, and commercializing products targeting inflammation, coagulopathies, and disorders of the central nervous system. Its product candidates are derived from its proprietary PharmacoSurgery platform that is designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological, and other surgical and medical procedures. The company?s lead PharmacoSurgery product candidates include OMS103HP, a Phase 3 clinical program evaluated for OMS103HP?s safety and ability to improve postoperative joint function and reduce pain following arthroscopic partial meniscectomy surgery, and arthroscopic anterior cruciate ligament; OMS302, a Phase 2b clinical trial completed product candidate for use during ophthalmological procedures, including cataract and other lens replacement surgery; and OMS201, a Phase 1/Phase 2 clinical trial completed program for use durin g urological surgery. It also engages in developing proprietary compositions that comprise peroxisome proliferator-activated receptor gamma agonists for the treatment and prevention of addiction to substances of abuse. The company?s pipeline of preclinical product development programs includes Plasmin for Surgical and traumatic bleeding; PDE7 for addictions and compulsive disorders, and movement disorders; MASP-2 for macular degeneration, ischemia-reperfusion injury, transplant surgery, and radiation injury; and PDE10 for Schizophrenia. Omeros Corporation was founded in 1994 and is based in Seattle, Washington.
- [By John Udovich]
Last week had been a busy week for biotech IPOs and follow-on offerings plus news from small cap biotech stocks like Omeros Corporation (NASDAQ: OMER), Argos Therapeutics Inc (NASDAQ: ARGS), Revance Therapeutics Inc (NASDAQ: RVNC) and TNI BioTech (OTCMKTS: TNIB) that’s worth noting as a new trading week begins:
- [By John Udovich]
The biotech sector has been hot this year with small cap biotech stocks Fate Therapeutics Inc (NASDAQ: FATE), Omeros Corporation(NASDAQ: OMER) and TNI BioTech (OTCMKTS: TNIB) being among those biotech stocks in the news this week. However, there has also been talk and perhaps some signs of a bubble in biotech that investors and traders alike need to consider. With that in mind, here is a recap of the latest news for biotech or small cap biotech stocks:
- [By John Udovich]
Small cap orphan drug stocks Zalicus Inc (NASDAQ: ZLCS), Omeros Corporation (NASDAQ: OMER) and Viropharma Inc (NASDAQ: VPHM) have been active lately thanks to good news about their orphan drug treatments. In case you aren’t familiar with the term, orphan drug designation by the FDA is granted for drugs targeting conditions affecting 200,000 or fewer US patients annually that are expected to provide significant therapeutic advantage over existing treatments. The designation will also qualify companies for benefits across all stages of drug development, such as accelerated approval processes, seven years of market exclusivity after marketing approval, tax credits on any US clinical trials, grants and waiver of certain administrative fees.
- [By Paul Ausick]
Stocks on the move: Boise Inc. (NYSE: BZ) is up 26% at $12.55 following the company’s acquisition by Packaging Corporation of America Inc. (NYSE: PKG) for $12.55 a share ($1.28 billion). Omeros Corp. (NASDAQ: OMER) is up 68.2% at $8.56 following an analyst upgrade. Northern Dynasty Minerals Ltd. (NYSEArca: NAK) is down 33.3% at $1.48 following an announcement from Anglo American plc that it was withdrawing from a massive copper mining project in Alaska.
Hot Promising Companies To Watch In Right Now: Braskem SA (BRKM5)
Braskem SA is a Brazil-based company primarily engaged in the manufacture of basic petrochemical products. The Company operates in five segments: Basic petrochemicals, Polyolefins, Vinyls, International businesses and Chemical Distribution. The Company’s products portfolio includes ethylene, propylene, butadiene, toluene, xylene, benzene, gasoline, diesel oil, liquefied petroleum gas (LPG), as well as thermoplastic resins, such as polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC). Additionally, Braskem is also engaged in the import and export of chemicals, petrochemicals and fuels; the production, supply and sale of utilities, such as steam, water, compressed air, industrial gases, as well as the provision of industrial services, and the production, supply and sale of electric energy for its own use and use by other companies. The Company also invests in other companies, either as a partner or shareholder. Advisors’ Opinion:
- [By Harry Suhartono]
Brazil’s Ibovespa rose for a third day as traders pared bets on higher borrowing costs in Brazil, boosting the outlook for companies that sell in the local market. B2W Cia. Digital led gains among retailers, with Lojas Americanas SA (LAME3) and Natura Cosmeticos SA (NATU3) also trading higher. Petrochemicals producer Braskem SA (BRKM5) was the worst performer on the equity gauge after O Estado de S.Paulo reported Petroleo Brasileiro SA (PETR4) is seeking to raise prices of naphtha sold to the company by 5 percent.