The head of a broker-dealer that distributes illiquid equipment-leasing funds last month reached a $1.5 million settlement with the Securities and Exchange Commission after the agency alleged that a related fund group misled investors regarding compensation practices at the funds.
The SEC’s cease-and-desist order against Commonwealth Income & Growth Fund Inc. and Kimberly Springsteen-Abbott, the owner and chief executive of wholesaling broker-dealer Commonwealth Capital Securities Corp., stated that the fund company “made misleading disclosures concerning the expenses that it charged to nine equipment-leasing funds that were sponsored by” the fund company’s parent, which the SEC identified as the Commonwealth Funds.
The settlement came five months after the Financial Industry Regulatory Authority Inc. filed a complaint against Ms. Springsteen-Abbott that alleged persistent misuse of $345,000 in investor cash over a three-year period to pay for personal expe nses such as home remodeling and decorations, and various trips. According to the Finra complaint, Commonwealth Capital Securities, the wholesaling broker-dealer, had distributed 13 equipment-leasing funds to be sold by various independent broker-dealers from 1993 to the present, raising more than $240 million.
Top 10 High Tech Companies To Buy For 2014: Santander Mexico Financial Group SAB de CV (BSMX)
Santander Mexico Financial Group SAB de CV, formerly Grupo Financiero Santander SAB de CV, is a Mexico-based financial institution. The Company is primarily engaged, through its subsidiaries, in the provision of multiple banking services, securities brokerage, financial advice services, as well as other related investment activities. The Company offers its services to both, individual and corporate clients. The Company owns such principal subsidiaries as Banco Santander (Mexico) SA, Casa de Bolsa Santander SA de CV and Zurich Santander Seguros Mexico S.A. In December, 2013, the Company concluded the sale of Gestion Santander SA de CV’s shares, as a result of the agreement reached with its parent company, Banco Santander SA. Advisors’ Opinion:
- [By Dan Burrows]
The current economic and political environment makes it hard to see what possible catalyst could pull EBR stock out of negative territory any time soon. EBR’s payouts have been erratic, so the stock’s dividend yield is basically a roll of the dice. Worst of all, EBB still has no profits. For dividend stocks, that’s another dealbreaker.
Grupo Financiero Santander Mexico (BSMX)
Market Cap: $14.9 billion
Dividend Yield: 11.4%
YTD Price Performance: -20%
- [By Eric Volkman]
ING’s (NYSE: ING ) Latin American operations will soon be one division lighter. The company announced it reached an agreement to sell its mortgage business in Mexico to Grupo Financiero Santander Mexico (NYSE: BSMX ) , the local presence of Spanish financial group Banco Santander (NYSE: SAN ) . The price was 643 million pesos ($51 million), according to Mexico City newspaper La Cronica de Hoy.
Top 10 High Tech Companies To Buy For 2014: Nintendo Co Ltd (NTDOF)
Nintendo Co., Ltd. is mainly engaged in the development, manufacture and sale of entertainment products in home entertainment field. The Company’s main products include leisure machines such as portable and console game machines and software, as well as trump and Carta (Japanese-style playing cards). As of March 31, 2013, the Company had 29 subsidiaries and five associated companies. Advisors’ Opinion:
- [By Parija Kavilanz]
The retailer said the service will accept unlimited number of games for popular consoles, including Sony (SNE) Playstation, Nintendo (NTDOF)’s Wii and Microsoft’s XBOX as long as they aren’t damaged and are in their original packaging.
- [By Alanna Petroff]
The downgrade comes in the same month that Nintendo (NTDOF) warned investors that it was expecting an operating loss of 35 billion yen ($335.2 million) for the fiscal year ending in March, following disappointing software and hardware sales in the busy end-of-year buying season.
- [By MARKETWATCH]
LOS ANGELES (MarketWatch) — Stocks in Japan started with losses Friday, the final session before the release of the closely watched U.S. jobs report later in the day. The Nikkei Stock Average (JP:NIK) shed 0.3% to 15,836.37, as the yen edged higher against the U.S. dollar overnight, and the broader Topix gave up 0.5%. Tech issues were mostly lower, including a 3.3% pullback in Trend Micro Inc. (JP:4704) (TMICY) , and a 2.7% decline in Nintendo Co. (JP:7974) (NTDOF) . Nintendo shares rallied Thursday after China temporarily lifted a ban on manufacturing and selling video game consoles within in the country. But among Friday’s best performers were shares of Fast Retailing Co. (JP:9983) (FRCOF) , up 4.4% after the company posted a nearly 9% rise in its fiscal first-quarter net profit to ¥41.85 billion ($399 million). Sales were driven by a nearly 80% gain in Fast Retailing’s overseas sales at Uniqlo stores.
- [By MARKETWATCH]
LOS ANGELES (MarketWatch) — Japanese stocks weakened in early Thursday trading as the yen rose and Wall Street ended mixed, with the Nikkei Stock Average (JP:NIK) falling 1.2% to 15,929.74 after a 1.9% advance a day earlier. With the yen (USDJPY) slightly firmer than in the previous session, some investors sold currency-sensitive exporters, with Fanuc Corp. (JP:6954) (FANUF) down 2%, Kyocera Corp. (JP:6971) (KYOCF) off 1.9%, and Fujitsu Ltd. (JP:6702) (FJTSY) losing 2.3%. News that China would lift a ban on some sales of videogame consoles had sent shares of Nintendo Co. (JP:7974) (NTDOF) shooting 11% higher on Wednesday, but apparent profit-taking sent the stock down 4.2% in early Thursday action. Shares of rival Sony Corp. (JP:6758) (SNE) , however, followed with a 4% rise, also possibly buoyed by a Nikkei Asian Review report that it was planning a “smartphone offensive” in the U.S. and China. Canon Inc. (JP:7751) (CAJ) fell 2% on a separate Nikkei report that the company’s 2013 operating profit would miss forecasts. Toshiba Corp. (JP:6502) (TOSYY)
Top 10 High Tech Companies To Buy For 2014: TeleNav Inc.(TNAV)
TeleNav, Inc. provides personalized navigation and location based services (LBS) in the United States and internationally. It offers GPS Navigator, a voice guided, real time, turn by turn mobile navigation service on a white label basis, such as Sprint Navigation and AT&T Navigator, as well as under the TeleNav brand. The company also provides mobile resource management solutions that allow enterprises to monitor and manage mobile workforces and assets by using its LBS platform to track job status and the location of workers, field assets, and equipment. Its enterprise solutions include TeleNav Track service, as well as TeleNav Vehicle Manager, TeleNav Vehicle Tracker, and TeleNav Asset Tracker. In addition, the company offers mobile navigation services through on-board and connected systems. Further, it focuses on developing LBS to new device platforms, such as tablet devices, as well as new LBS for mobile phones, including location based mobile advertising, commerce, and social networking. The company distributes its services to consumers, wireless carriers, enterprises and automobile manufacturers, and original equipment manufacturers through its wireless carrier partners, as well as through its Web site and mobile phone application stores. TeleNav, Inc. is headquartered in Sunnyvale, California.
- [By Louis Navellier]
Lately, FleetCor has been on a buying spree. This spring, FLT agreed to buy out Telenav’s (TNAV) mobile business — an operation that serves 8,000 business clients by tracking the location of mobile workers in field-based businesses. FleetCor aims to adopt the business to add value to its ongoing fuel card programs.
- [By Seth Jayson]
Telenav (Nasdaq: TNAV ) reported earnings on April 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q3), Telenav beat expectations on revenues and beat expectations on earnings per share.
Top 10 High Tech Companies To Buy For 2014: Curis Inc.(CRIS)
Curis, Inc., a drug discovery and development company, focuses on the research and development of cancer therapeutics. The company, under collaboration with Genentech, Inc., is conducting a pivotal Phase II clinical trial on its lead molecule, GDC-0449 in advanced basal cell carcinoma patients, as well as various Phase II clinical trials in first-line metastatic colorectal cancer and advanced ovarian cancer patients. It is also evaluating CUDC-101, a small molecule that is in a Phase I clinical testing and is designed to target histone deacetylase, epidermal growth factor receptor, and epidermal growth factor receptor 2. In addition, Curis has a development candidate, Debio 0932, which is a Heat Shock Protein 90 or Hsp90 inhibitor. The company holds a license agreement with Debiopharm related to its Hsp90 technologies. Further, it involves in preclinical testing for the development of candidates from its targeted cancer programs. The company was founded in 2000 and is base d in Lexington, Massachusetts.
- [By Monica Gerson]
Curis (NASDAQ: CRIS) dipped 18.97% to $3.16 in the pre-market session after the company reported Q3 financial results and provided CUDC-427 development update.
Top 10 High Tech Companies To Buy For 2014: GATX Corp (GMT)
GATX Corporation (GATX) leases, operates, manages and remarkets assets primarily in the rail and marine markets. GATX has three segments: Rail, American Steamship Company (ASC) and Portfolio Management. Rail and its affiliates lease tank cars, freight cars and locomotives in North America and Europe. ASC operates a fleet of United States flagged vessels on the Great Lakes. Portfolio Management has investments in affiliated companies. As of December, 31, 2011, the Company held 37.5% interest in AAE Cargo AG (AAE), a 12.5% interest in Adler Funding LLC (Adler) and a 50% interest in Southern Capital Corporation (ACC). In January 2012, ASC entered into a five-year lease for a newly constructed articulated tug-barge. The tug is diesel powered and the barge is 740 feet in length with a carrying capacity of 34,000 gross tons. During the year ended December 31, 2011, the Clipper Fourth Limited and Clipper Fourth APS marine joint ventures, in each of which GATX held a 45% interest, were dissolved.
Rail is exploring leasing opportunities in Asia through both wholly owned subsidiaries, as well as joint venture arrangements. As of December 31, 2011, Rail’s worldwide fleet, consisted of wholly owned and leased-in railcars, totaled approximately 130,000 railcars. Rail offers customers financial, operational, management and maintenance expertise. In addition, Rail actively manages fleets for an affiliate and other third-party owners of approximately 8,000 railcars, in aggregate.
Rail’s customers primarily operate in the chemical, petroleum, food/agriculture and transportation industries. Rail’s fleet consists of a diverse selection of railcar types that are used by its customers to ship approximately 700 different commodities. Rail also had an ownership interest in approximately 32,000 railcars through investments in affiliated companies. Affiliate fleets consist primarily of freight and intermodal railcar s. Additionally, Rail manages approximately 2,000 railcars f! or third-party owners. Rail primarily provides railcars pursuant to full-service leases under which it maintains the railcars, pays ad valorem taxes and insurance and provides other ancillary services. Rail also offers net leases for railcars under which the lessee is responsible for maintenance, insurance and taxes.
In North America, Rail leases railcars for terms that generally range from three to 10 years. Rail’s North American operations also include a locomotive leasing business. As of December 31, 2011, Rail’s locomotive fleet totaled 572 locomotives. The majority of Rail’s leases are full-service contracts under which Rail maintains the railcars. Rail operates an extensive network of service facilities across North America that perform repair, maintenance, modification and regulatory compliance work on the fleet. Maintenance services include interior cleaning of railcars, general repairs to the car body and safety appliances, regulatory compliance work, wheelset replacements, exterior blast and painting, and car stenciling.
Rail leases standard gauge railcars to customers throughout Europe. Lease terms generally range from one to seven years and at December 31, 2011, the average remaining lease term of the fleet was approximately two years. Rail acquires new railcars primarily from the IRS Group and VRZ Karlovo. The owned service centers are supplemented by a number of third-party repair facilities.
ASC operates a fleet of United States flagged vessels on the Great Lakes, providing waterborne transportation of dry bulk commodities primarily for customers in the steel, electric utility and construction industries. The primary commodities carried by ASC’s vessels are iron ore, coal, limestone aggregates and metallurgical limestone. End markets for these commodities include domestic automobile manufacturing, electricity generation and non-residential construction. At Decembe r 31, 2011, ASC’s fleet consisted of 17 vessels. Fourteen ! of the ve! ssels are diesel powered. The diesel vessels range in size from 635 to 1,004 feet in length with maximum load capacities between 23,800 and 80,900 gross tons. The three remaining vessels are steam powered. The steamer vessels range in size from 690 to 767 feet in length with maximum load capacities between 22,300 and 26,300 gross tons. In 2011, ASC carried 28.4 million net tons of cargo including both contracted volume and spot business.
Portfolio Management leverages its equipment knowledge by managing portfolios of assets for third parties. Portfolio Management generates fee and residual sharing income through portfolio administration and remarketing of these assets. Affiliate activities include aircraft spare engine leasing, shipping operations and gas compression equipment leasing. Rolls-Royce and Partners Finance (RRPF) is a collection of 50%-owned domestic and international joint ventures with Rolls-Royce plc, a manufactu rer of commercial aircraft jet engines. RRPF leases spare engines to Rolls-Royce plc and commercial airlines. The RRPF portfolio in aggregate is comprised of approximately 370 Rolls-Royce and International Aero Engine aircraft engines. Cardinal Marine Investments LLC (Cardinal Marine) is a 50%-owned marine joint venture with IMC Holdings, a subsidiary of the IMC Pan Asia Alliance Group (IMC).
Cardinal Marine owns six chemical parcel tankers (each with 45,000 dead weight tons that operate under a pooling arrangement with IMC’s other chemical tankers in support of the movement of liquid bulk chemicals in the Middle East Gulf/Far East and United States Gulf/Far East trades. Somargas II Private Limited (Somargas) and Singco Gas Pte, Limited (Singco), respectively, are 35% and 50%-owned joint ventures with IM Skaugen ASA (Skaugen). Clipper Third Limited (Clipper Third) is a 50%-owned joint venture with Clipper Group Invest Ltd. (the Clipper Group). Clipper Third ow ns two handysize vessels that support the worldwide movement! of dry b! ulk products, such as grain, cement, coal and steel. Enerven Compression, LLC (Enerven) is a 45.6%-owned joint venture with ING Investment Management and Enerven management. Enerven provides natural gas compression equipment leasing through its subsidiary, Enerven Compression Services (ECS) and third-party maintenance and repair services through its subsidiary, Worldwide Energy Solutions Company (WESCO).
The Company competes with Union Tank Car Company, General Electric Railcar Services Corporation, American Railcar Leasing, CIT Group Inc., Trinity Leasing, First Union Rail, Helm Financial Corporation, National Railway Equipment Corporation, Relco Locomotives, Inc., VTG Aktiengesellschaft, Ermewa, CTL Logistics Group, PCC Rail Group, Interlake Steamship Company, VanEnkevort Tug and Barge, Grand River Navigation, Great Lakes Fleet, Inc. and Central Marine Logistics.
- [By Dividends4Life]
Fair Value: In calculating fair value, I consider the NPV MMA Differential Fair Value along with these four calculations of fair value, see page 2 of the linked PDF for a detailed description:
1. Avg. High Yield Price
2. 20-Year DCF Price
3. Avg. P/E Price
4. Graham Number
GWW is trading at a premium to all four valuations above. The stock is trading at a 10.0% premium to its calculated fair value of $219.95. GWW did not earn any Stars in this section.
Dividend Analytical Data: In this section there are three possible Stars and three key metrics, see page 2 of the linked PDF for a detailed description:
1. Free Cash Flow Payout
2. Debt To Total Capital
3. Key Metrics
4. Dividend Growth Rate
5. Years of Div. Growth
6. Rolling 4-yr Div. > 15%
GWW earned three Stars in this section for 1.), 2.) and 3.) above. A Star was earned since the Free Cash Flow payout ratio was less than 60% and there were no negative Free Cash Flows over the last 10 years. The stock earned a Star as a result of its most recent Debt to Total Capital being less than 45%. GWW earned a Star for having an acceptable score in at least two of the four Key Metrics measured.
Rolling 4-yr Div. > 15% means that dividends grew on average in excess of 15% for each consecutive 4 year period over the last 10 years (2003-2006, 2004-2007, 2005-2008, etc.) I consider this a key metric since dividends will double every 5 years if they grow by 15%. The company has paid a cash dividend to shareholders every year since 1965 and has increased its dividend payments for 42 consecutive years.
Dividend Income vs. MMA: Why would you assume the equity risk and invest in a dividend stock if you could earn a better return in a much less risky money market account (MMA) or Treasury bond? This section compares the earning ability of this stock with a high yield MMA. Two items are considered in this section, see page 2 of the linked
Top 10 High Tech Companies To Buy For 2014: Pharmaxis Ltd (PXS)
Pharmaxis Ltd is a pharmaceutical company that researches, develops and commercializes therapies for undertreated respiratory diseases. Its therapeutic interests include lung diseases such as cystic fibrosis, bronchiectasis and asthma, as well as chronic obstructive pulmonary diseases such as chronic bronchitis and pulmonary fibrosis. The Company’s products include Aridol and Bronchitol. The Company’s Aridol product is a lung function test. The product is designed to identify twitchy or hyper-responsive airways and to assist in diagnosing and managing asthma. Aridol is approved for sale in Australia, European countries, South Korea and the United States. is a drug designed to reduce the amount of mucus build-up in the lungs of patients suffering from chronic respiratory conditions. The Company develops Bronchitol for diseases including cystic fibrosis, bronchiectasis and chronic bronchitis. Advisors’ Opinion:
- [By Trista Kelley]
Science in Sport Ltd. broke away from its parent company, Provexis Plc (PXS), and began trading today after an initial public offering as the maker of nutritional sports gels rides a surge in Britain’s Lycra-clad cyclists.
Top 10 High Tech Companies To Buy For 2014: Willamette Valley Vineyards Inc. (WVVI)
Willamette Valley Vineyards, Inc. engages in the production and sale of wines in the United States. It offers wines under the Pinot Noir, Chardonnay, Pinot Gris, Riesling and Oregon Blossom, Oregon’s Nog, Edelweiss, Semi-Sparkling Muscat, Syrah, Merlot, Cabernet Sauvignon, Cabernet Franc, The Griffin, and Viognier brand names. The company markets and sells its wines directly at its winery; directly and indirectly through its shareholders; through self-distribution to local restaurants and retail outlets in Oregon; directly through mailing lists; and through distributors and wine brokers outside Oregon. Willamette Valley Vineyards, Inc. was founded in 1983 and is headquartered in Turner, Oregon.
- [By CRWE]
Willamette Valley Vineyards (NASDAQ:WVVI), a leading Oregon producer of Pinot Noir, generated a net profit of $219,912, or $0.05 cents per share for the second quarter of 2012, an increase of 27.6% from the comparable prior year period.
Top 10 High Tech Companies To Buy For 2014: OmniVision Technologies Inc.(OVTI)
OmniVision Technologies, Inc. designs, develops, and markets semiconductor image-sensor devices. The company offers CameraChip image sensors, which are single-chip solutions that integrate various functions, such as image capture, image processing, color processing, signal conversion, and output of a processed image or video stream for use in various consumer and commercial mass-market applications; and CameraCube imaging devices that are image sensors with integrated wafer-level optics. It also provides companion chips used to connect its image sensors to various interfaces, including the universal serial bus and other industry standard interfaces; and companion digital signal processors that perform compression in standardized still photo and digital video formats. In addition, the company designs and develops software drivers for Linux, Mac OS, and Microsoft Windows, as well as for embedded operating systems, such as Blackberry OS, Palm OS, Symbian, Windows CE, Windows Embedded, and Windows Mobile. Its products are used in mobile phones, notebooks, Webcams, digital still and video cameras, commercial and security and surveillance, and automotive and medical applications, as well as in entertainment devices. The company sells its products directly to original equipment manufacturers and value added resellers, as well as indirectly through distributors worldwide. OmniVision Technologies, Inc. was founded in 1995 and is based in Santa Clara, California.
- [By John Kell]
OmniVision Technologies Inc.’s(OVTI) fiscal third-quarter profit rose 43%, boosted by a one-time benefit related to the initial public offering of the company’s equity investee China WLCSP Ltd. Shares rose 15% to $18.60 premarket.
- [By Jake L’Ecuyer]
Shares of OmniVision Technologies (NASDAQ: OVTI) got a boost, shooting up 7.22 percent to $17.38 after the company posted better-than-expected Q3 results.
Top 10 High Tech Companies To Buy For 2014: Navigant Consulting Inc (NCI)
Navigant Consulting, Inc., incorporated in 1996, is an independent specialty consulting firm. Professional services include dispute, investigative, economic, operational, risk management technology, financial and regulatory advisory solutions. The Company provides companies, legal counsel and governmental agencies facing the challenges of uncertainty, risk, distress and significant change. It provides a range of offerings to its client base. It operates in four segments: Business Consulting Services, Dispute and Investigative Services, Economic Consulting and International Consulting. On July 15, 2011, the Company acquired assets of Ignited Solutions, LLC. In October 2011, the Company acquired Paragon Health, a national physician practice management and consulting firm specializing in Cardiovascular practices. Effective July 9, 2013, the Company acquired The Anson Group LLC.
The Business Consulting Services reporting segment provides strategic, operational, f inancial, regulatory and technical management consulting services to clients, principally C suite and corporate management, governmental entities and law firms. During the year ended December 31, 2011, the reporting segment consisted of three operating segments, Energy, Healthcare and Other Business Consulting. The Energy and Healthcare business units are defined as operating segments due to their size, importance and organizational reporting relationships. The Energy and Healthcare operating segments provide services to clients in those respective markets and the Other Business Consulting operating segment provides operations advisory, valuation and restructuring services to clients in the financial services and other industries..
The Dispute and Investigative Services reporting segment provides a range of services to clients facing the challenges of disputes, litigation, forensic investigation, discovery and regulatory compliance. The clients of this segment are principally law firms, corporate general counsel and cor! porate boards and government agencies.
The Economic Consulting reporting segment provides economic and financial analyses of legal and business issues principally for law firms, corporations and governmental agencies. Expertise includes areas, such as antitrust, corporate finance and governance, bankruptcy, intellectual property, investment banking, labor market discrimination and compensation, corporate valuation and securities litigation.
The International Consulting reporting segment provides a mix of dispute and business consulting services to clients predominately outside North America. The clients are principally C suite and corporate management, governmental entities and law firms. The clients are principally C suite executives and corporate management, governmental agencies and law firms.
- [By MONEYMORNING]
In fact, of the 10 companies examined, Navigant Consulting Inc. (NYSE: NCI) is the only one that has received no new contract awards since the GAO’s March 31 study cutoff date. (The firm is tasked with data collection and customer outreach.)
In late October, Health and Human Services Secretary Kathleen Sebelius testified under oath to Congress to address the Obamacare website launch disaster. She began with a prepared statement, with comments like “You deserve better,” “I apologize,” and “I’m accountable to you.”
- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market’s best stocks, it’s worth checking up on your companies’ free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That’s what we do with this series. Today, we’re checking in on Navigant Consulting (NYSE: NCI ) , whose recent revenue and earnings are plotted below.
- [By Grant Zeng]
The tolerability of ADXS-HPV continues to compare favorably with single agent and combination chemotherapies active in this disease setting. 41% (45/110) of patients experienced 104 mild-moderate Grade 1-2 adverse events and 2% (2/110) of patients experienced a Grade 3 serious adverse event. This compares to published treatment-related serious adverse event rates of 100%-400% in studies evaluating a range of chemotherapy regimens for cervical cancer, including the Moore study and studies conducted by the Gynecologic Oncology Group (GOG) of the National Cancer Institute (NCI).
Top 10 High Tech Companies To Buy For 2014: ASA Gold and Precious Metals Limited (ASA)
ASA Gold and Precious Metals Limited is a self management investment trust. The firm invests in the public equity markets across the globe. It primarily invests in stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds, or other precious minerals. ASA Gold and Precious Metals Limited was founded in 1958 and is based in San Mateo, California.
- [By Joe Eqcome]
Highest Positive Spread: Nuveen Mortgage Opportunity Term Fund (JLS)Focus Stock: LMP Real Estate Income Fund (RIT)Last Week’s Focus Stock: ASA Gold and Precious Metals (ASA)
ECB cuts its rates: The European Central Bank (ECB) will cut its benchmark rate a quarter-of-a-point to 0.5%.