Related NE Benzinga's Top Downgrades JPMorgan Sees Opportunity In Oil Services, Says M&A Will 'Take Backseat' Noble Corp. – Complete Fleet Status As Of May 19, 2016 And Commentary (Seeking Alpha) Related FCX Benzinga's Top Initiations Freeport-McMoRan Shares Continue To Bounce; Jefferies Upgraded To Buy Earlier Freeport McMoRan Oil & Gas withdraws IPO (Seeking Alpha)
Argus analyst David Coleman downgraded Noble Corporation Ordinary Shares (UK) (NYSE: NE) shares to a Hold Rating from Buy, citing a weak outlook. The analyst believes that while the company should continue to gain from its fleet of high-spec rigs, he sees a further drop in offshore drilling activity as pressurizing. He also cited the loss of the big drilling contract with Freeport-McMoRan Inc (NYSE: FCX) representing 11 percent of its backlog.
Top 5 Forestry Stocks To Own For 2016: Toll Brothers Inc.(TOL)
Toll Brothers, Inc., together with its subsidiaries, designs, builds, markets, and arranges finance for single-family detached and attached homes in luxury residential communities. It is also involved in building or converting existing rental apartment buildings into high-, mid-, and low-rise luxury homes. In addition, the company develops, owns, and operates golf courses and country clubs associated with various planned communities, as well as individual communities. It serves move-up, empty-nester, active-adult, age-qualified, and second-home buyers in 19 states in the United States. Toll Brothers, Inc. was founded in 1967 and is headquartered in Horsham, Pennsylvania.
- [By Jim Powell]
Steve Halpern: You mentioned home builders and one that you’ve been bullish on is Toll Brothers (TOL). Do you still like that stock?
Jim Powell: I certainly do. It’s in there for the long haul. They’ve made some really good strategic decisions. One of the trends that I’ve been following is the millennial generation and what their habits are and what their preferences are.
- [By George Putnam, Editor, New Generation Research, Inc.]
Steve Halpern: Now, another company that you talk about is Toll Brothers (TOL), which focuses on the higher-end of the home market, as well as condominiums. Do you think there’s still opportunity with TOL?
- [By Eileen Rojas]
Toll Brothers has rising sales volume and unit prices
For the third quarter ended on July 31, Toll Brothers’ (NYSE: TOL ) net income was $46.6 million, or $0.26 per share. The latest income figures were down 24% from last year’s third-quarter results of $61.6 million, or $0.36 per share. The company’s total quarterly revenues were $689.2 million, up 24% over last year, and homebuilding deliveries were 1,059 units, up 10% compared to the same period last year.
Top 5 Forestry Stocks To Own For 2016: The Blackstone Group L.P.(BX)
The Blackstone Group L.P. (Blackstone), incorporated on March 12, 2007, is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies. The Company’s segments include Private Equity, Real Estate, Hedge Fund Solutions and Credit.
The Company’s Private Equity segment focuses on identifying, managing and creating lasting value for its investors. Its Private Equity segment includes corporate private equity funds; tactical opportunities business, which pursues a global multi-asset class approach to investing in illiquid assets focused on timely opportunities that fall outside the Company’s other alternative fund strategies; strategic partners, which is the Company’s secondary private fund of funds business, and Blackstone Total Alternati ves Solution (BTAS), which is an investment program for eligible high net worth investors. The Company has raised approximately seven general private equity funds, as well as over three specialized corporate private equity funds focusing on energy and communications-related investments.
The Company manages various global, European and Asian focused opportunistic real estate funds, several real estate debt investment funds, a publicly traded real estate investment trust (BXMT), and core and real estate investments. Its real estate opportunity funds are diversified geographically and have made investments in lodging, office buildings, shopping centers, residential and a variety of real estate operating companies. Its debt investment funds target high yield real estate debt related investment opportunities in the public and private markets in the United States and Europe. The Company’s core and funds target stabilized office, multifamily, i ndustrial and retail assets across the world. The Company re! fers to its real estate opportunistic funds as Blackstone Real Estate Partners (BREP) funds, its real estate debt investment funds as Blackstone Real Estate Debt Strategies (BREDS) funds and its core and investment funds as Blackstone Property Partners (BPP) funds.
Hedge Fund Solutions
The Company’s Hedge Fund Solutions group comprises Blackstone Alternative Asset Management (BAAM). It manages a range of commingled funds of hedge funds and customized vehicles. BAAM’s businesses also includes investment platforms that seed new hedge fund talent, purchase ownership interests in established hedge funds, invest in special situation opportunities, create alternative solutions in regulated structures, and trade long and short public equities.
The Company’s credit segment consists of GSO Capital Partners LP (GSO). The funds the Company manages or sub-advises include senior credit-focused funds, distressed debt funds, mezzan ine funds and general credit-focused funds concentrated in the leveraged finance marketplace. GSO also manages separately managed accounts and registered investment companies, including business development companies. The Company’s vehicles have investment portfolios comprising loans and securities spread across the capital structure, including senior debt, subordinated debt, preferred stock and common equity.
- [By Jim Powell]
Steve Halpern: Among your recent recommendations is a housing related play called the Blackstone Group (BX), a private equity firm. Could you explain how that’s related to the housing sector?
Hot Internet Companies To Own For 2016: Lannett Co Inc(LCI)
Lannett Company, Inc. develops, manufactures, packages, markets, and distributes generic versions of branded pharmaceutical products in the United States. It offers solid oral, extended release, topical, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, soft gel, and injectable dosages. The company provides its products for various medical indications comprising glaucoma, muscle relaxant, migraine, anesthetic, congestive heart failure, thyroid deficiency, dryness of the mouth, gout, bronchospasms, hypertension, and gallstone. It also manufactures active pharmaceutical ingredients. Lannett Company, Inc. markets its products under the Diamox, Lioresal, Fioricet, Fiorinal, Fiorinal w/ Codeine #3, Lanoxin, Levoxyl/Synthroid, Salagen, Benemid, Brethine, Dyazide, and Actigall brands. The company sells its pharmaceutical products to generic pharmaceutical distributors, drug wholesalers, chain drug retailers, private label distributors, mail-order pharmacies, other pharmaceutical manufacturers, managed care organizations, hospital buying groups, governmental entities, and health maintenance organizations. It has development and supply agreements with Azad Pharma AG, Aenova of Switzerland, Pharma 2B, the GC Group of Israel, HEC Pharm Group, and Sunshine Lake LLC, as well as with Jerome Stevens Pharmaceuticals, Inc., Cerovene, Symplemed, Inc., and Summit Bioscience LLC. The company was founded in 1942 and is based in Philadelphia, Pennsylvania.
- [By Ben Levisohn]
But it hasn’t been all bad news. Lannett (LCI) has gained 1.9% to $16.00 after it reported a profit of 12 cents, above the 7 cents forecast by analysts. And shares of Krispy Kreme (KKD) are unchanged after the company said it would earn 59 cents to 63 cents in the slides for a presentation tomorrow. Considering what happened the last time Krispy Kreme opened its mouth, that has to be considered good news.
Top 5 Forestry Stocks To Own For 2016: Marvell Technology Group Ltd.(MRVL)
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers mobile and wireless products comprising communications and applications processors; thin modems; and connectivity solutions, including Wi-Fi, Bluetooth, near field communication, and FM; and mobile computing products, as wain, Sweden, Switzerland, and Taiwan. Marvell Technology Group Ltd. was founded in 1995 aell as silicon solutions and Kinoma software. The company also provides a range of data storage products, such as hard disk drive and solid-state drive controllers. In addition, it offers networking products comprising Ethernet solutions; embedded communication processors; network processors; and Ethernet passive optical network and gigabit passive optical network products. Further, the company provides printer system-on-a-chip products, as well as custom printer ASICs; and smart home products that are designed to enable the next generation of connected consumer platforms, and to enhance the eco-friendly Connected Lifestyle throughout the home, incluidng platforms for set-top boxes, video dongles, and lighting and smart appliances. It operates in the United States, Canada, China, India, Israel, Italy, Japan, Malaysia, Singapore, South Korea, Spnd is headquartered in Hamilton, Bermuda.
- [By Shauna O’Brien]
On Tuesday, JP Morgan announced that it has raised its rating on Marvell Technology Group Ltd. (MRVL) .
The firm has upgraded MRVL from “Neutral” to “Overweight,” and has given the company a $16 price target. This price target suggests a 19% upside from the stock’s current price of $12.91.
Marvell Technology shares were up 37, or 2.94%, during Tuesday morning trading. The stock is up 78% YTD.
Top 5 Forestry Stocks To Own For 2016: Warren Resources Inc.(WRES)
Warren Resources, Inc., an independent energy company, engages in the exploration, development, and production of onshore crude oil and gas reserves in the United States. It primarily explores for oil reserves in the Wilmington field in California; and natural gas in the Washakie Basin in Wyoming. The company was founded in 1990 and is headquartered in New York, New York.
- [By Lisa Levin]
Shares of Warren Resources, Inc. (NASDAQ: WRES) were down 31 percent to $0.0656. Warren Resources filed for Chapter 11 bankruptcy.
Gogo Inc (NASDAQ: GOGO) was down, falling around 15 percent to $9.40 after the company announced it has reached an agreement with American Airlines Group Inc (NASDAQ: AAL) to “continue to provide service on a meaningful portion of the American fleet currently served by Gogo.” Investors heavily sold off the stock as the company’s announcement implies it lost some orders to its main competitor, ViaSat, Inc. (NASDAQ: VSAT).