Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on big changes — just in case they’re material to our investing thesis.
What: Shares of Clearwire (NASDAQ: CLWR ) were on fire today, climbing up as much as 31% after DISH Network (NASDAQ: DISH ) raised its bid for the 4G network provider from $3.30 to $4.40 a share, topping Sprint Nextel’s (NYSE: S ) bid by $1.
So what: Sprint already owns a 50% stake in Clearwire, whose chunk of 140 megahertz spectrum makes it a valuable asset for broadband users such as Sprint and DISH. Clearwire shareholders were supposed to meet tomorrow to discuss Sprint’s offer, but that meeting will probably be postponed, considering the DISH proposal. Crest Financial, Clearwire’s largest minority shareholder, had argued against the Sprint offer, saying the company should hold out for a better offer and open itself up to competitive bidding.
Now what: Perhaps the best question about today’s actions is why the stock opened so far below the bid and didn’t go higher than $4.56. DISH’s offer seems to put a price floor of $4.40 on the stock and could spur a counteroffer from Sprint or another company, potentially sending shares considerably higher. Sprint had called the $3.40-per-share proposal its “best and final offer,” but that was when it was the best one on the table. Following Crest’s advice seems to be Clearwire’s best move here, as its spectrum should only gain value with time. Still, it’s clear that this story is far from over. To stay on track, just add Clearwire to your Watchlist here.
Top Shipping Companies To Own For 2015: John Hancock Premium Dividend Fund (PDT)
John Hancock Patriot Premium Dividend Fund II (the Fund) is a diversified closed-end management investment company. The Fund’s investment objective is to provide high current income together with capital growth. The Fund invests in a diversified portfolio of dividend-paying preferred and common stocks. It invests at least 80% of its net assets in dividend-paying securities. The Fund will normally invest more than 65% of its total assets in securities of companies in the utilities industry. Preferred stocks and debt obligations in which the Fund invests are rated investment grade (at least BBB by Standard & Poor’s or Baa by Moody’s Investors Service) at the time of investment, or will be preferred stocks of issuers of investment-grade senior debt, or if not rated, will be of comparable quality as determined by the Fund’s investment advisor. The Fund will invest in common stocks of issuers, whose senior debt is rated investment grade, or in the case of issuers that hav e no rated senior debt outstanding, whose senior debt is considered by its advisor to be of comparable quality. Its portfolio includes common stocks, preferred securities and short-term investments.
In May 2007, the Fund completed the acquisition of John Hancock Patriot Preferred Dividend Fund. In June 2007, the Fund acquired Hancock John Patriot Global Dividend Fund and John Hancock Patriot Premium Div Fund I. On October 10, 2007, the Fund completed the acquisition of John Hancock Patriot Select Dividend Trust Fund.
The Fund invests in industries, such as multi-utilities, electric utilities, investment banking and brokerage, other diversified financial services, oil and gas exploration and production, gas utilities, consumer finance, life and health insurance, and integrated telecommunication services. John Hancock Patriot Premium Dividend Fund II’s investment advisor is John Hancock Advisers, LLC, a wholly owned subsidiary of John Hancock Fina ncial Services, Inc., which is a subsidiary of Manulife Fina! ncial Corporation. The Fund’s sub-advisor is MFC Global Investment Management (U.S.), LLC.
- [By Ari Charney]
John Hancock Premium Dividend Fund (PDT) tends to allocate roughly 30% to 40% of the portfolio to equities and 60% to 70% to preferred stock, with the utilities and financial sectors as its main focus.
Top Shipping Companies To Own For 2015: Maiden Hldgs Ltd(MHLD)
Maiden Holdings, Ltd., through its subsidiaries, provides reinsurance solutions to regional and specialty insurers primarily in the United States and Europe. The company offers property, casualty, accident, and health reinsurance products. It offers its products through the treaties with other insurers on a quota share or excess of loss basis, as well as on a facultative basis through third-party intermediaries and on direct basis. Maiden Holdings, Ltd. was founded in 2007 and is headquartered Hamilton, Bermuda.
- [By Marc Bastow]
Bermuda-based reinsurance solutions provider Maiden Holdings (MHLD) raised its quarterly dividend 22% to 11 cents per share, payable on Jan. 15 to shareholders of record as of Jan. 2.
MHLD Dividend Yield: 3.79%
Top Shipping Companies To Own For 2015: Gleacher & Company Inc.(GLCH)
Gleacher & Company, Inc., an independent investment bank, provides corporate and institutional clients with advice and execution in the areas of advisory services, capital raising and research, sales, and trading. It operates through five segments: Mortgage Backed/Asset Backed & Rates (MBS/ABS & Rates), Corporate Credit, Investment Banking, Equities, and Other. The MBS/ABS & Rates segment provides sales, trading, banking, research, and advisory services on a range of mortgage and asset-backed securities; the United States Treasury and government agency securities; and structured products, such as collateralized loan obligations and collateralized debt obligations, whole loans, and other securities. The Corporate Credit segment offers analysis, sales, and trading on various debt securities comprising bank debt and loans, investment grade debt, high-yield debt, treasuries, convertibles, distressed debt, preferred debt, emerging markets debt, and reorganization equities to co rporate and institutional investor clients. The Investment Banking segment provides financial advisory services in regards to mergers and acquisitions, restructurings, recapitalizations, and capital markets-related matters. It engages in capital raising through underwritings and private placements of equity and debt securities. The Equities segment offers research on customer trades in equity securities in aerospace, defense, industrials, technology, healthcare, and REIT sectors. The Other segment provides early stage growth capital to companies in the information and energy technology sectors. The company was formerly known as Broadpoint Gleacher Securities Group, Inc. Gleacher & Company, Inc. was founded in 1952 and is headquartered in New York, New York.
- [By Eric Volkman]
Investment bank Gleacher (NASDAQ: GLCH ) has announced that it will exit its mortgage-backed securities and rates business, as well as its credit-products operations. This move, the repercussions of which could potentially affect up to roughly 160 employees, is effective immediately.
- [By Eric Volkman]
The upper ranks of Gleacher (NASDAQ: GLCH ) management have seen a major shake-up. The financial services company has relieved both CEO Thomas Hughes, and COO John Griff, of their jobs. In a tersely worded filing with the Securities and Exchange Commission, it said that the twin terminations were effective immediately. It provided no reason for its actions.
Top Shipping Companies To Own For 2015: CyrusOne Inc (CONE)
CyrusOne Inc., incorporated on July 31, 2012, is a owner, operator and developer of enterprise-class, carrier-neutral data center properties. Enterprise-class, carrier-neutral data centers are purpose-built facilities with redundant power, cooling and telecommunications systems and that are not network-specific, enabling customer interconnectivity to a range of telecommunications carriers. The Company provides mission-critical data center facilities that protect operation of information technology (IT) infrastructure for approximately 500 customers. As of September 30, 2012, its customers included nine of the Fortune 20 and 108 of the Fortune 1000 or private or foreign enterprises of equivalent size. On July 31, 2012, the Company’s operating partnership, CyrusOne LP, was formed. On July 31, 2012, CyrusOne GP, the general partner of the Company’s operating partnership, was formed as a trust.
As of September 30, 2012, the Company’s property portfolio incl uded 23 operating data centers in nine markets: Austin, Chicago, Cincinnati, Dallas, Houston, London, San Antonio, Singapore, and South Bend providing approximately 1,630,000 net rentable square feet (NRSF) and powered by approximately 125 megawatts of utility power. The Company owns nine of the buildings in which its data center facilities are located. It leases the remaining 14 buildings, which account for approximately 600,000 NRSF. The Company also has 379,000 NRSF under development at three data centers in three markets (Dallas, Houston and Phoenix) and 762,000 NRSF of additional powered shell space under roof and available for development. In addition, it has approximately 146 acres of land that are available for future data center facility development. Along with its primary product offering, leasing of colocation space, its customers are interested in its ancillary office and other space.
As of September 2012, the Company added 36,000 Colocation Space ( CSF) at its Westover Hills Blvd (San Antonio) facility, 47,0! 00 CSF at its Frankford Road (Carrollton) facility and 15,000 CSF at its Westway Park Blvd (Houston West) facility. The Company’s portfolio of properties consists primarily of data centers geographically concentrated in cities in Ohio and Texas, which comprised 38% and 59%, respectively, of its annualized rent as of September 30, 2012.
- [By Paulo Santos]
As I started my due diligence on Cyrusone (CONE), I was excited. Here was a stock that had a good story – it rents out space in datacenters, has a dividend yield and trades at a low valuation while showing decent growth.
- [By Mike Arnold]
Cincinnati Bell (CBB) ("CB" or "the company") is a storied, regional telecommunications player in Ohio undergoing considerable transformation, which began, in earnest, with the spin-off of its data warehousing business CyrusOne (CONE) ("Cyrus") in January 2013. CB still holds a ~69% economic interest in Cyrus, with the stated goal to monetize the asset over the next several years in order to pay down debt.
Top Shipping Companies To Own For 2015: ONEOK Inc.(OKE)
ONEOK, Inc., a diversified energy company, operates as a natural gas distributor primarily in the United States. The company operates in three segments: ONEOK Partners, Distribution, and Energy Services. The ONEOK Partners segment engages in gathering, processing, fractionating, transporting, storing, and marketing natural gas and natural gas liquids (NGL) principally in the Mid-Continent and Rocky Mountain regions, which include Anadarko Basin of Oklahoma, Fort Worth Basin of Texas, Hugoton and Central Kansas Uplift Basins of Kansas, Williston Basin of Montana, and North Dakota and the Powder River Basin of Wyoming. This segment offers its services to oil and gas production companies; natural gas gathering and processing companies; petrochemical, refining, and NGL marketing companies; Local distribution companies (LDCs) and power generating companies; and natural gas marketing and NGL gathering companies, and propane distributors. The Distribution segment provides natural gas distribution services to residential, commercial, industrial, and transportation customers, as well as public authority customers, such as cities, governmental agencies, and schools in Oklahoma, Kansas, and Texas. The Energy Services segment delivers physical natural gas products and risk management services through its network of contracted transportation and storage capacity, and natural gas supply. This segment?s customers primarily comprise LDCs, electric utilities, and industrial end users. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.
- [By David Dittman]
Question: Hi. What do you think about Williams Companies (NYSE: WMB) and ONEOK Inc (NYSE: OKE)? They both seem to be increasing their dividends.
Answer: Williams just completed a big deal for Access Midstream Partners LP that will add to cash flow and provide more room for dividend growth. Part of the deal in fact includes a 32 percent payout increase. This is a classic invest-to-grow story. I like Williams under 60.
ONEOK is now a pure-play general partner, its asset being a 41 percent interest in ONEOK Partners LP (NYSE: OKS) and its gathering/processing/transporting assets from key US gas-producing fields. Management has guided to solid dividend growth for the next half-decade. I like ONEOK on dips to 66.
- [By Marc Bastow]
Diversified energy services company Oneok (OKE) raised its quarterly dividend 40% to 56 cents per share.
Payout Date: May 15
Ex-Dividend Date: April 28
OKE Dividend Yield: 3.67%
- [By Dividends4Life]
This week a few companies answered the call and rewarded their shareholders with higher cash dividends:
Consolidated Edison Inc. (ED) engages in regulated electric, gas, and steam delivery businesses. January 16th the company increased its quarterly dividend 2.4% to $0.63 per share. The dividend is payable March 15, 2014, to stockholders of record on February 12, 2014. The yield based on the new payout is 4.7%.
Cousins Properties Incorporated (CUZ), a real estate investment trust (REIT), owns, develops, and manages real estate portfolio, as well as performs certain real estate-related services. January 16th the company increased its quarterly dividend 66.7% to $0.075 per share. The dividend is payable February 24, 2014, to stockholders of record on February 10, 2014. The yield based on the new payout is 2.8%.
Wisconsin Energy Corporation (WEC) generates and distributes electric energy, as well as distributes natural gas. The company operates in two segments, Utility Energy and Non-Utility Energy. January 16th the company increased its quarterly dividend 2% to $0.3900 per share. The dividend is payable March 1, 2014, to stockholders of record on February 14, 2014. The yield based on the new payout is 3.8%.
BlackRock Inc. (BLK) is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors. January 16th the company increased its quarterly dividend 14.9% to $1.93 per share. The dividend is payable March 24, 2014, to stockholders of record on March 7, 2014. The yield based on the new payout is 2.4%.
ONEOK Inc. (OKE) operates as a diversified energy company in the United States. January 15th the company increased its quarterly dividend 5.3% to $0.40 per share. The dividend is payable February 18, 2014, to stockholders of record on February 10, 2014. The yield based on the new payout is 2.5%.
Omega Healthcare Investors Inc. (OHI) is a real es
Top Shipping Companies To Own For 2015: QuickLogic Corporation(QUIK)
QuickLogic Corporation, a fabless semiconductor company, develops and markets low power customizable semiconductor solutions for tablets, smartbooks, netbooks, cloudbooks, smartphones, datacards, and mobile enterprise products. Its solutions enable original equipment manufacturers and original design manufacturers to add new features, extend battery life, and enhance the visual experience of their handheld mobile devices. The company designs customer specific standard products, which are customer-specific solutions that include a combination of silicon solution platforms, Proven System Blocks (PSBs), customer-specific logic, software drivers, and firmware. It primarily offers two platform families, ArcticLink and PolarPro, which are standard silicon products. The company?s PSBs include Visual Enhancement Engine and Display Power Optimizer technologies; SDHD/eMMC Host Controllers; USB 2.0 On-The-Go with PHY; MDDI Client with PHY; high speed UARTs; pulse width modulators; S PI and I2C hosts, display-specific functions, such as RGB-split and frame recyclers; and Data Performance Manager for accelerated sideloading times. QuickLogic?s PSBs allows system designers to combine multiple discrete chips onto a single CSSP, simplifying design and board layout, lowering bill of materials cost, and accelerating time-to-market. The programmable fabric of the platforms is used for adding differentiated features, as well as provide flexibility to address hardware-based product requirements. The company markets its products through a direct sales force and has sales offices in the United States, the United Kingdom, China, Japan, and Taiwan; and has development offices in Canada and India. QuickLogic Corporation was founded in 1988 and is headquartered in Sunnyvale, California.
- [By Garrett Cook]
Technology sector was the top decliner in the market on Thursday. Top losers in the sector included QuickLogic (NASDAQ: QUIK), Glu Mobile (NASDAQ: GLUU), and L-3 Communications Holdings (NYSE: LLL).
- [By Paul McWilliams]
QuickLogic (QUIK) has posted exceptional new product growth in 2013, and now claims Samsung as a direct customer.
While I think the drivers that delivered the goods in 2013, will continue to work to QuickLogic’s favor in 2014, the real kicker in this equation is, QuickLogic is the only company in the world that has developed a sensor hub that is low enough power to deliver the vast benefits we can realize from Always-on Context Aware sensor fusion.
Top Shipping Companies To Own For 2015: Tetra Technologies Inc.(TTI)
TETRA Technologies, Inc. operates as a diversified oil and gas services company. The company operates in three divisions: Fluids, Production Enhancement, and Offshore. The Fluids Division manufactures and markets clear brine fluids, additives, and other associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in various countries in Latin America, Europe, Asia, the Middle East, and Africa; and markets liquid and dry calcium chloride products to non-energy markets. The Production Enhancement division offers production testing services in various oil and gas basins in the United States, as well as in Mexico, Brazil, northern Africa, and the Middle East; and wellhead compression-based production enhancement services in the onshore producing regions of the United States, as well as various onshore basins in Canada, Mexico, South America, Europe, and Asia. The Offshore division pr ovides offshore services, including downhole and subsea oil and gas services, such as well plugging and abandonment, and wireline services; decommissioning and construction services utilizing heavy lift barges and various technologies for offshore oil and gas production platforms and pipelines; and conventional and saturated air diving services. It also engages in the exploration, development, and production of oil and gas properties in the offshore and onshore U.S. Gulf Coast region. This division provides its services to oil and gas companies and independent operators. The company was founded in 1981 and is headquartered in the Woodlands, Texas.
- [By Ben Levisohn]
What a ride it’s been for investors in Tetra Technologies (TTI) today.
Agence France-Presse/Getty Images
Shares of Tetra Technologies traded down as much as 16% this morning after the oil & gas services company reported a profit of 6 cents not including Maritech and other unusual items, missing analyst forecasts for 19 cents. Tetra Technologies also said it would make between 50 cents and 60 cents during fiscal 2014, below forecasts for 66 cents.
At 2:38 p.m., however, Tetra was trading down just 0.8% at $10.88. RBC’s Kurt Hallead and team explain why:
Tetra Technologies rallied after starting the day at -15%. We think there was an overreaction to the headline miss and Tetra Technologies’ core operating business results, along with 2H14 guidance, were in line with expectations. Moving forward, the company has some key catalysts on the horizon that should lead to significantly improved operating performance and investor awareness. Key Catalysts:
1. Get Maritech (E&P P&A liability in GoM) off the books. Ideally by 3Q. Once this is done, Tetra Technologies may implement a dividend or share repo program.
2. Broaden Production Testing customer base, which should lead to a ramp in margins.
3. Increase scale of Compressco through M&A, along with awareness of the MLP’s value to Tetra Technologies.
4. Sell the offshore services business to simplify business structure.
Shares of Tetra Technologies are down 12% in 2014.
- [By Seth Jayson]
When judging a company’s prospects, how quickly it turns cash outflows into cash inflows can be just as important as how much profit it’s booking in the accounting fantasy world we call “earnings.” This is one of the first metrics I check when I’m hunting for the market’s best stocks. Today, we’ll see how it applies to TETRA Technologies (NYSE: TTI ) .
- [By Monica Wolfe]
Tetra Technologies (TTI)
During the second quarter Ashton upped his stake in Tetra Technologies by 91.82%. The guru purchased 71,800 shares in the second quarter price range of $8.29 to $11.21, with an estimated average price of $9.74. Since his buy the price per share has increased approximately 20.1%.
Top Shipping Companies To Own For 2015: China Natural Resources Inc.(CHNR)
China Natural Resources, Inc., through its subsidiaries, engages in the acquisition and exploitation of mining rights. The company involves in the exploration, extraction, processing, and sale of iron, zinc, and other nonferrous metals extracted or produced at mines primarily located in Anhui Province in the People?s Republic of China. It also involves in the exploration, acquisition, construction, development, and operation of coal mines located in Guizhou Province, the People?s Republic of China. The company is based in Central, Hong Kong.
- [By Jake L’Ecuyer]
Top decliners in the sector included Arch Coal (NYSE: ACI), off 5.3 percent, and China Natural Resources (NASDAQ: CHNR), down 3.9 percent.