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The obvious reason would be the iShares iBoxx $ High Yield Corporate Bond ETF (NYSE: HYG), the largest high-yield corporate bond exchange traded fund, sports a 30-day SEC yield of 5.64 percent. That's more than triple the current yield on 10-year Treasurys.
Top India Stocks To Watch Right Now: TSR Inc.(TSRI)
TSR, Inc., together with its subsidiaries, provides contract computer programming services to commercial customers, and state and local government agencies in the metropolitan New York area, New England, and the mid-Atlantic region. It offers technical computer personnel to supplement in-house information technology capabilities. The company provides its staffing services in the areas of mainframe and mid-range computer operations, personal computers and client-server support, Internet and e-commerce operations, voice and data communications, and help desk support capabilities. TSR, Inc. was founded in 1969 and is based in Hauppauge, New York.
- [By Lisa Levin]
TSR Inc (NASDAQ: TSRI) shares shot up 35 percent to $5.15 following Q4 results. TSR reported Q4 earnings of $0.09 per share on revenue of $15.5 million.
Top India Stocks To Watch Right Now: ConAgra Foods, Inc.(CAG)
ConAgra Foods, Inc., incorporated on December 5, 1975, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded, private branded and customized food products, as well as commercially branded foods and ingredients. It also supplies frozen potato and sweet potato products, as well as other vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers. Its brands include Marie Callender’s, Healthy Choice, Slim Jim, Hebrew National, Orville Redenbacher’s, Peter Pan, Reddi-wip, PAM, Snack Pack, Banquet, Chef Boyardee, Egg Beaters and Hunt’s. The Company sells its products in grocery, convenience, mass merchandise and club stores.
The Company’s Consumer Foods segment includes branded food sold in various retail channels primarily in North America. Its food products are sold in a range of categories (meals, entrees, condiments, sides, snacks and desserts) in various retail channels across frozen, refrigerated and shelf-stable temperature classes. Its brands include ACT II, Banquet, Blue Bonnet, Chef Boyardee, DAVID, Egg Beaters, Healthy Choice, Hebrew National, Hunt’s, Marie Callender’s, Orville Redenbacher’s, PAM, Peter Pan, Reddi-wip, Slim Jim, Snack Pack, Swiss Miss, Van Camp’s and Wesson. The Company under the Consumer Foods segment has operations in Chicago, Illinois, and Omaha, Nebraska. It also operates Canada, China, Columbia, Mexico and Panama.
As of July 15, 2016, the Company had 27 domestic manufacturing facilities located in Arkansas, California, Georgia, Indiana, Illinois, Iowa, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, Ohio, Pennsylvania, Tennessee and Wisconsin. It also has international manufacturing facilities in Argentina, Canada, Italy and Mexico, and interests in ownership of international manufacturing facilities in India, Mexico and the Philippines.
The Company’s Commercial Foods segment includes commercially branded and private label food and ingredients, which are sold to commercial, foodservice, restaurant, food manufacturing and industrial customers. The segment’s primary food items include frozen potato and sweet potato items, as well as a range of vegetable, spice and frozen bakery goods, which are sold under brands, such as Lamb Weston and Spicetec Flavors & Seasonings. The Company under the Commercial Foods segment has operations in Omaha, Nebraska; Eagle, Idaho; North Liberty, Iowa, and Tri-Cities, Washington. It also operates in China, Japan, the Netherlands and Singapore.
As of July 15, 2016, the Company had 19 domestic manufacturing facilities located in Idaho, Illinois, Kentucky, Louisiana, New Jersey, Oregon, Tennessee and Washington. It also has international manufacturing facilities in Canada and China; interests in ownership of domestic manufacturing facilities located in Minnesota and Washington, and interests in ownership of international manufacturing facilities located in Austria, the Netherlands and the United Kingdom.
- [By Jake L’Ecuyer]
ConAgra Foods (NYSE: CAG) reported a 42% drop in its fiscal first-quarter earnings.
ConAgra’s quarterly profit fell to $144.3 million, or $0.34 per share, from $250.1 million, or $0.61 per share, in the year-ago period. Its earnings from continuing operations came in at $0.33 per share. Excluding one-time items, its earnings declined to $0.37 from $0.44 per share.
- [By Monica Gerson]
Some of the stocks that may grab investor focus today are:
Wall Street expects ConAgra Foods Inc (NYSE: CAG) to report its quarterly earnings at $0.52 per share on revenue of $2.89 billion. ConAgra shares rose 0.17 percent to $47.68 in after-hours trading. Analysts expect Darden Restaurants, Inc. (NYSE: DRI) to report its quarterly earnings at $1.08 per share on revenue of $1.81 billion. Darden Restaurants shares gained 0.44 percent to $66.25 in after-hours trading. Progress Software Corporation (NASDAQ: PRGS) reported better-than-expected results for its second quarter on Wednesday. Progress Software shares surged 6.19 percent to $26.75 in the after-hours trading session.
Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.
- [By Ben Levisohn]
ConAgra’s (CAG) is supposed to make things people want to eat. Instead, the market is eating the food company’s lunch today following disappointing guidance.
The Wall Street Journal reports:
ConAgra FoodsInc. cut its full-year earnings outlook, as the packaged-foods company said fiscal first-quarter earnings were softer than expected, especially in its consumer foods segment.
The company now expects full-year adjusted earnings to range from $2.34 to $2.38 a share, down from its prior view of about $2.40.
First-quarter earnings were 33 cents a share, or 37 cents excluding certain items. Analysts polled by Thomson Reuters most recently expected 45 cents a share.
Citigroup’s David Driscoll still has hope for ConAgra’s shares. He writes:
…while ConAgra is off to a disappointing start to F1Q14, we believe that overall US food volumes for the industry and ConAgra are at the cusp of a positive turnaround, in conjunction with the large US crop expected this fall. With ConAgra shares currently trading at 13.5x at the mid-point of managements new F2014 EPS range, we believe that most of the disappointment surrounding todays announcement is likely in the stock….We see good upside in ConAgra shares going forward, as Consumer Food trends are expected to
strengthen, and as Q1 weakness appears to be more macro driven versus a company-specific issue. This puts Kraft (KRFT) under the most scrutiny in our group.
S&P Capital IQ’s Tom Graves concurs:
In light of disappointing EPS guidance from the company, we are lowering our 12-month target price to $38 from $42. Before special items, we are reducing our FY 14 (May) EPS estimate to $2.38 from $2.43, and FY 15′s by $0.08 to $2.62…In FY 14, we expect CAG’s Ralcorp acquisition to be the primary EPS growth driver. We see the stock at an attractive P/E discount to the food group.
Best Gold Stocks To Own For 2017: Tidewater Inc.(TDW)
Tidewater Inc., through its subsidiaries, provides offshore service vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels. It provides services in support of offshore exploration, field development, and production, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction and seismic support; and various specialized services, such as pipe and cable laying. The company?s vessels include platform supply vessels, and anchor handling towing supply vessels that are used in transporting supplies and equipment from shore bases to deepwater and intermediate water depth offshore drilling rigs, platforms, and other installations; towing-supply and supply vessels used in intermediate and shallow waters; and crewboats and utility vessels that are chartered for transporti ng personnel and supplies from shore bases to offshore drilling rigs, platforms, and other installations. It also operates offshore tugs used for towing floating drilling rigs; assisting in the docking of tankers; towing barges; assisting in pipe laying, cable laying, and construction barges; and commercial towing operations, including towing barges carrying various bulk cargoes and containerized cargo. In addition, the company operates inshore tugs; production, line-handling, and various other special purpose vessels. Further, it operates two shipyards, which construct, modify, and repair vessels. As of March 31, 2011, the company had 378 vessels serving the global offshore energy industry. The company has operations in the United States, Gulf of Mexico, the Persian/Arabian Gulf, and areas offshore Australia, Brazil, Egypt, India, Indonesia, Malaysia, Mexico, Trinidad, Venezuela, and West Africa. Tidewater Inc. was founded in 1956 and is headquartered in New Orleans, Louisi ana.
- [By Lisa Levin]
Tidewater Inc. (NYSE: TDW) shares dropped 34 percent to $4.05. Tidewater posted Q4 GAAP loss of $1.74 per share on revenue of $184.2 million.
Shares of Ionis Pharmaceuticals Inc (NASDAQ: IONS) were down 40 percent to $21.30 after the company issued an update on the IONIS-TTR program. The company is evaluating IONIS-TTRRx in an ongoing Phase 3 study currently, NEURO-TTR, in patients with transthyretin (TTR) familial amyloid polyneuropathy. According to Ionis, GSK, which has an option to license IONIS-TTRx, has decided not to initiate the stage three outcome study, CARDIO-TTR that was planned to assess IONIS-TTRx in patients with TTR armyloid cardiomyopthy.
- [By Lisa Levin]
In trading on Thursday, energy shares dipped by 0.98 percent. Meanwhile, top losers in the sector included Tidewater Inc. (NYSE: TDW), down 14 percent, and BP Prudhoe Bay Royalty Trust (NYSE: BPT), down 17 percent.
- [By Monica Gerson]
Tidewater Inc. (NYSE: TDW) is expected to post a quarterly loss at $0.59 per share on revenue of $192.39 million.
Popeyes Louisiana Kitchen Inc (NASDAQ: PLKI) is estimated to post its quarterly earnings at $0.64 per share on revenue of $85.31 million.