Author Archive for Insider Scoop

Here’s Why The Market Should Love Palo Alto’s Q3

Courtesy of Benzinga.

Here's Why The Market Should Love Palo Alto's Q3

Palo Alto Networks Inc (NYSE: PANW) reported its 3Q16 EPS in-line with expectations, despite a significant revenue beat. JPMorgan’s Sterling Auty maintained an Overweight rating for the company, while reducing the price target from $216 to $196.

Shares lost more than 10 percent after hours, with concerns over decelerating product revenue. Analyst Sterling Auty said, however, that this was a “myopic view” of the Palo Alto’s success, since it did not consider sustainable +30 percent revenue growth, driven by increases in subscription, margin expansion, and a 40 percent CAGR in FCF through FY18.

“The one pushback we understand from the market is the backend loaded nature of the quarter and comments about macro impacts, but with 61% growth in billings the execution has been unassailable, in our view,” Auty wrote.

Related Link: Cybersecurity Follows Palo Alto’s Lead

Positives For The Company

Although Palo Alto’s EPS was in-line, this was due to the higher mix of subscription billings, “which generates upfront commission expense versus ratable revenue recognition,” the analyst pointed out. Moreover, the company generated best-in-class billings growth of 61 percent, driven by “an increasing uptake of the eight subscriptions PANW now has available.”

Palo Alto’s product revenue missed expectations. Management had been indicating a shift toward subscription revenue for several quarters. Auty commented that the Street had been slow to incorporate the shift, while adding that this strategy “offers greater long-term value given the margin profile and high renewal rates on this revenue stream.”

Latest Ratings for PANW

Date Firm Action From To
May 2016 JP Morgan Maintains Overweight
May 2016 Barclays Maintains Overweight
May 2016 Goldman Sachs Maintains Buy

View More Analyst Ratings for PANW


View the Latest Analyst Ratings

Posted-In: JPMorgan Sterling AutyAnalyst Color Long Ideas Price Target Reiteration Analyst Ratings Trading Ideas Best of Benzinga





Overhang For Relypsa Remains, Morgan Stanley Says

Courtesy of Benzinga.

Overhang For Relypsa Remains, Morgan Stanley Says

A probable delay in the FDA approval of ZS-9, AstraZeneca plc’s (ADR) (NYSE: AZN) hyperkalaemia asset, could lend near-term upside to shares of Relypsa Inc (NASDAQ: RLYP). Morgan Stanley’s Andrew S Berens maintained an Equal-weight rating for the company, with a price target of $9.

AstraZeneca announced that ZS-9 had received a complete response letter [CRL], following the preapproval manufacturing inspection. There could be a delay of 9 to 12 months in the FDA approval of ZS-9, “giving Relypsa a slightly longer runway without competition,” analyst Andrew S Berens commented.

Related Link: Relypsa Surges 30% Following Setback From Rival

The latest development also removes AstraZeneca’s near-term assistance in building the marketplace, there is likely to be a positive, albeit modest impact on Relypsa’s Veltassa revenues. Berens added, “We note that the European approval timeline for approval in early 2017 could remain intact, with a CHMP opinion expected this fall.”

Impact On Financing

The ZS-9 delay could increase the likelihood of dilutive financing in the near-term, since the modest increase in revenue does not offset Relypsa’s cash needs, in view of its high burn rate.

“We also think that this delay decreases the likelihood of near-term strategic optionality, as it provides no visibility into the ZS-9 label. We believe any potential acquirer waiting until this point would similarly wait until the new action date to better assess the commercial dynamics expected in 2017 and beyond,” the analyst stated.

Latest Ratings for RLYP

Date Firm Action From To
May 2016 Morgan Stanley Upgrades Underweight Equal Weight
May 2016 Citigroup Maintains Buy
May 2016 BTIG Research Maintains Buy

View More Analyst Ratings for RLYP


View the Latest Analyst Ratings

Posted-In: Andrew S Berens Morgan StanleyAnalyst Color Reiteration Analyst Ratings Best of Benzinga





Gordon Johnson On Trina Solar: ‘Time To Press The Shorts’

Courtesy of Benzinga.

Gordon Johnson On Trina Solar: 'Time To Press The Shorts'

Trina Solar Limited (ADR) (NYSE: TSL) reported 1Q16 revenue and EPS of $816.9mn and $0.25, respectively, beating consensus expectations of $777.0mn and $0.23. Axiom’s Gordon Johnson maintained a Sell rating for the company, while reducing the price target from $6 to $4. The analyst expects China’s demand to weaken in 2H16.

Despite the strong 1Q results, Trina Solar’s shares could head south, analyst Gordon Johnson said. He commented that there was “acute risk to TSL,” while citing the reasons as:

  • Decline in China demand – China’s demand is expected to soften in the back half of the year, versus the normal seasonal spike. Trina Solar indicated lower 2016 feed-in-tariffs, “suggesting the lynchpin behind global PV demand is folding,” Johnson said.
  • Guidance Reduction Ahead – Trina Solar reduced its downstream shipment guidance for 2016, by 52 percent at the midpoint, from 500MW to 240MW. Yet, the company left its total shipment guidance unchanged.

This implies that the company raised its external shipment guidance by ~260MW, despite lower China demand expected in 2H, a sharp decline in California’s new PV applications and a slow start to Japan’s 2016 installations. Johnson believes there is a high probability of Trina Solar reducing its total shipment guidance later this year.

  • Margins to Come Under Pressure - Margins seem to have peaked, given the company’s guided sales mix and ASPs continuing to trend lower.

“Thus, as solar industry fundamentals have never been clearer, we firmly believe now is the time to pile into short positions across the sector,” Johnson wrote.

Latest Ratings for TSL

Date Firm Action From To
May 2016 Deutsche Bank Downgrades Buy Hold
May 2016 Credit Suisse Maintains Neutral
Mar 2016 Credit Suisse Masin Neutral

View More Analyst Ratings for TSL


View the Latest Analyst Ratings

Posted-In: axiom Gordon JohnsonAnalyst Color Short Ideas Price Target Reiteration Analyst Ratings Trading Ideas Best of Benzinga





Goldman Sachs Says Blockchain Could Drive Airbnb To Top Spot For Lodging By 2020

Courtesy of Benzinga.

Goldman Sachs Says Blockchain Could Drive Airbnb To Top Spot For Lodging By 2020

Earlier this week, Goldman Sachs’ James Schneider and his team published their views on blockchain technology. Blockchain is a type of environment that acts like “a shared digital ledger of transactions recorded and verified across a network of participants in a tamper-proof chain that is visible to all,” according to Schneider.

Of the companies called out in the note, we’ll focus on Airbnb for this installment.

Blockchain technology has the ability to offer de-centralized transactions, reduce fraud and improved trust among buyers/sellers, and increased levels of transparency and efficiency. Essentially, blockchain presents the potential to reduce friction in offering, recording and settling transactions.

By improving the integrity of the transaction system, Schneider believes transactions such as those embarked upon by Airbnb participants would improve as transactions and online reviews would be better tracked to the parties. This would prevent false reviews, altered price for service, and would be the catalyst that compresses the performance of Hotel RevPAR further.

Schneider lists is expectations as follows:

  • “[B]lockchain could help accelerate the adoption of P2P lodging and generate $3-$9 billion in incremental revenue opportunity through 2020.”
  • Electricity markets sees blockchain facilitating secure transactions driving potential for individuals to act as distributors of power, which Schneider pegs as a $2.5-$7 billion opportunity, annually.
  • Title Insurance could see U.S. cost savings of roughly $2-$4 billion by reducing errors and manual effort.
  • Cash Settlement of securities may see upwards of $11-$12 billion in savings.
  • Anti-money laundering could save $3-$5 billion will improved levels of trust and less need for manual assessment.

Blockchain could be the next catalyst that drives Airbnb, HomeAway, Inc. (NASDAQ: AWAY), etc. benefits through accelerated growth rates as blockchain helps to improve the appeal of non-hotel types of business offering lodging services. Naturally, if Airbnb and HomeAway accelerate growth rates that would be bad for the hotel names.

To wit: “However, user authentication and reputation is particularly challenging for lodging. With a
continue reading





Graham Media Group To Buy WCWJ, CW affiliate In Jacksonville, NBC Affiliate in Roanoke

Courtesy of Benzinga.

Graham Media Group, Inc., a Graham Holdings Company (NYSE: GHC) subsidiary, said it struck a deal with Nexstar Broadcasting Group, Inc. and Media General, Inc. to purchase WCWJ, a CW affiliate television station in Jacksonville, Florida and WSLS, an NBC affiliate television station in Roanoke, Virginia for $60 million in cash and the assumption of certain liabilities.

The agreement to acquire Nextar Broadcasting included pension obligations. Graham Media Group, Inc. would continue to operate both stations under their current network affiliations.

Graham Media said the acquisition is subject to approval by the FCC, other regulatory approvals, and the satisfaction of closing conditions.

Shares of the company traded 0.29 percent higher on Friday.

Posted-In: News M&A





Benzinga Breakdown: Analysts Give Palo Alto More Mixed Reviews Than ‘Batman V Superman’

Courtesy of Benzinga.

Benzinga Breakdown: Analysts Give Palo Alto More Mixed Reviews Than 'Batman V Superman'

After Palo Alto Networks Inc (NYSE: PANW) reported a strong quarter but gave what was considered weak-ish guidance, investors sent the stock down 10 percent pre-market Friday while analysts reacted with mixed feelings.

  • Deutsche Bank AG downgraded from Buy to Hold
  • Needham downgraded from Buy to Hold
  • Goldman Sachs maintained a Buy
  • Related Link: Here’s Why The Market Should Love Palo Alto’s Q3

  • Barclays maintained an Overweight rating and $184 price target
  • JPMorgan Chase & Co. maintained an Overweight rating, but lowered its price target to $196 from $216
  • JPMorgan credited its price target change to softness in the overall software industry, not being directly related to Palo Alto. Furthermore, there has been a lot of commentary from the bullish analysts suggesting that the market is overreacting to the light guidance, and the stock could rebound.

    Latest Ratings for PANW

    Date Firm Action From To
    May 2016 JP Morgan Maintains Overweight
    May 2016 Barclays Maintains Overweight
    May 2016 Goldman Sachs Maintains Buy

    View More Analyst Ratings for PANW


    View the Latest Analyst Ratings

    Posted-In: Earnings News Guidance Downgrades Price Target Reiteration Analyst Ratings Movers Best of Benzinga





    With Little Upside To Capture, Longbow Downgrades EMC

    Courtesy of Benzinga.

    With Little Upside To Capture, Longbow Downgrades EMC

    Longbow has downgraded EMC Corporation (NYSE: EMC) to Neutral from Buy on valuation as the shares reached the brokerage’s target price of $28.

    “Valuation has expanded as confidence grew in Dell’s ability to raise the required capital to acquire EMC, through new debt raises and asset sales. Consequently, there is little remaining upside to capture,” analyst Joe Wittine wrote in a note.

    Related Link: Should Investors Shift Away From Old Tech Legacy Stocks

    In October, Dell agreed to buy EMC for $67 billion. The U.S. regulators have approved deal in February.

    At the time of writing, shares of EMC were down 0.09 percent to $27.82.

    Latest Ratings for EMC

    Date Firm Action From To
    May 2016 Longbow Research Downgrades Buy Neutral
    Apr 2016 Raymond James Downgrades Strong Buy Outperform
    Jan 2016 Mizuho Securities Upgrades Neutral Buy

    View More Analyst Ratings for EMC


    View the Latest Analyst Ratings

    Posted-In: Joe WittineAnalyst Color Long Ideas Downgrades Price Target M&A Analyst Ratings Trading Ideas





    Sears Discloses In Q1 Print It May Sell Assets To Improve Liquidity; Stock Jumps +8%

    Courtesy of Benzinga.

    Sears Discloses In Q1 Print It May Sell Assets To Improve Liquidity; Stock Jumps +8%

    Sears Holdings Corp (NASDAQ: SHLD) reported its first-quarter results early Thursday morning and also announced an update to its liquidity situation.

    Sears Holdings said it lost $0.186 per share in the first quarter on revenue of $5.39 billion. Wall Street analysts were expecting the company to lose $3.20 per share on revenue of $5.26 billion.

    Net loss for the quarter worsened to $471 million from a loss of $303 million a year ago, as Kmart’s comparable store sales fell 5.0 percent and Sears’ domestic comparable store sales fell 7.1 percent.

    Related Link: Retail Earnings Parade Continues: Best Buy, Costco, Sears

    However, the company noted that adjusted for significant items, net loss for the quarter would have been $199 million compared to a net loss of $213 million a year ago.

    Edward S. Lampert, chairman and CEO, said, “While our operating performance still remains well below our goals, I am pleased to report that our first quarter Adjusted EBITDA, excluding Seritage Growth Properties and joint venture rent, improved by $14 million compared to the first quarter of 2015, largely driven by reductions in overall expenses. Our Sears Domestic and Kmart apparel businesses continue to be negatively impacted by a heavily promotional competitive environment.

    “We continue to focus on improving the overall performance of these businesses through changes to our assortment, sourcing, pricing and inventory management practices. We remain focused on restoring Sears Holdings to profitability by concentrating on our best stores, our best members and our best categories through innovative solutions leveraging our Shop Your Way membership program and our Integrated Retail offerings.”

    Liquidity Update

    Sears disclosed in a 10-Q regulatory filing that as management progresses in its transformation, it is focusing on profitability instead of revenues, market share and other metrics which relate to (but do not necessarily drive) profit.

    The company added that its approach may negatively impact sales, but is aimed at returning toward profitability.

    Related Link: 3
    continue reading





    Is Amazon Pulling The Rug Out From Under FedEx And UPS?

    Courtesy of Benzinga.

    Is Amazon Pulling The Rug Out From Under FedEx And UPS?

    In the past, Amazon.com, Inc. (NASDAQ: AMZN)’s explosive growth had been good news for shippers United Parcel Service, Inc. (NYSE: UPS) and FedEx Corporation (NYSE: FDX). However, as Amazon grows, it will continue to be become less reliant upon FedEx and UPS.

    No Need To Worry, Says Bernstein

    However, according to Bernstein analyst David Vernon, FedEx and UPS investors have nothing to fear.

    “Assuming Amazon and other retailers continue to rely less on UPS and FDX, which is reasonable as density builds, the demand for e-commerce deliveries by the national carriers should still yield a reasonable 7–10 percent growth,” Vernon explained.

    Related Link: Is A June Rate Hike Good News For U.S. Stocks?

    E-Commerce Shipping May Decrease, But The Market Will Boom

    Bernstein projects that, while FedEx and UPS’s share of e-commerce shipping will continue to decline, the e-commerce market will grow at a strong enough pace to more than offset the declining share.

    In the past four years, FedEx and UPS’s share of Amazon package volume has dropped from around 60 percent to its current range of between 30 and 40 percent. However, Bernstein projects that e-commerce sales will grow 8–12 percent annually for the next 10 years.

    Vernon believes the market has currently priced in an overly negative outlook for FedEx and UPS.

    Bernstein maintains a Market Perform rating on FedEx and Outperform ratings on Amazon and UPS.

    Disclosure: The author holds no position in the stocks mentioned.

    Latest Ratings for AMZN

    Date Firm Action From To
    May 2016 Nomura Maintains Buy
    Apr 2016 Axiom Maintains Buy
    Apr 2016 Goldman Sachs Maintains Buy

    View More Analyst Ratings for AMZN


    View the Latest Analyst Ratings

    Posted-In: Bernstein David VernonAnalyst Color Long Ideas Reiteration Top Stories Analyst Ratings Trading Ideas Best of Benzinga





    S&P 500 Index Futures Lower In Choppy Session

    Courtesy of Benzinga.

    S&P 500 index futures are lower by two points at 2085.25 in Thursday’s session. The index has found resistance just ahead of Wednesday’s high (2092.50), peaking at 2091.75. At this time, the intra-day low for the session stands at 2082.50.

    All but three of the top 10 components of the index are in the red. The biggest loser is Microsoft Corporation (NASDAQ: MSFT) shares which are trading lower by $0.48 at $51.64.

    The strongest component is Facebook Inc (NASDAQ: FB) shares which are trading higher by $1.66 $119.55.

    Posted-In: Futures Technicals Intraday Update Markets Movers Trading Ideas





     
     
     

    Phil's Favorites

    Miami Condo Boom Ends: Sellers Find Few Buyers, Inventory Soars

    Courtesy of Mish.

    Thanks to cheap money and an influx of foreign buyers, Florida had its second condo boom in a decade.

    And once again, that boom has turned to bust. Speculators seek to unload condos but find few buyers.

    Please consider Miami’s Condo Frenzy Ends With Inventory Piling Up in New Towers.

    Miami’s crop of new condo towers, built with big deposits from Latin American buyers and lots of marketing glitz, are opening with many owners heading for the exits.

    A third of the units in some newly built high-rises are back on the market, though most are listed for more than their owners paid in the pre-construction ...



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    ValueWalk

    Brian Bares on His Favorite Investment Books and Resources

    By Jacob Wolinsky. Originally published at ValueWalk.

    Brian Bares on His Favorite Investment Books and Resources

    Here are some books he recommends

    Berkshire Hathaway letters 

    ...



    more from ValueWalk

    Market News

    News You Can Use From Phil's Stock World

     

    Financial Markets and Economy

    The side effects of negative interest rates are 'fanning out across the globe' (Business Insider)

    The side effects of Negative Interest Rate Policies in Europe and Japan — what we’ve come to call the NIRP absurdity — are becoming numerous and legendary, and they’re fanning out across the globe, far beyond the NIRP countries.

    Bond Traders Say Don't Count Out June Hike After Yellen Remarks (Bloomberg)

    ...

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    Zero Hedge

    How Russia Is Preparing For WWIII

    Courtesy of ZeroHedge. View original post here.

    Submitted by Tyler Durden.

    Authored by The Saker,

    I have recently posted a piece in which I tried to debunk a few popular myths about modern warfare. Judging by many comments which I received in response to this post, I have to say that the myths in question are still alive and well and that I clearly failed to convince many readers. What I propose to do today, is to look at what Russia is really doing in response to the growing ...



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    Chart School

    World Markets Weekend Update: The Global Rally Accelerates

    Courtesy of Doug Short's Advisor Perspectives.

    Seven of the eight indexes on our world watch list posted gains over the past week, up from five the week before, and the average of the eight was an impressive 2.60%. India's SENSEX was the outstanding out performer with a 5.34% surge, and three indexes, France's CAC 40, the Hong Kong's Hang Seng and Germany's DAXK closed the week with gains in the mid-three percents. China's Shanghai was the sole loser with its fractional 0.16% decline. Japan's Nikkei had the second worse performance with a modest gain of 0.59%. Incidentally, the Nikkei about 4% below its late January close when the Bank of Japan adopted its negative interest rate policy.

    A Closer Look at the Last Four Weeks

    The tables below provide a concise overvi...



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    Kimble Charting Solutions

    Gold Mining Stocks- Most dangerous time to own them in years?

    Courtesy of Chris Kimble.

    CLICK ON CHART TO ENLARGE

    The rally in mining stocks since the first of the year has been very impressive.

    The rally has taken Gold Miners ETF GDX up to test the 23% retracement of the collapse over the past 5-years. At the same time it is hitting the 23% level, two other resistance lines are being put to a test, with momentum at the highest levels in the past 5-years.

    Joe Friday Just The Facts...



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    Insider Scoop

    Graham Media Group To Buy WCWJ, CW affiliate In Jacksonville, NBC Affiliate in Roanoke

    Courtesy of Benzinga.

    Graham Media Group, Inc., a Graham Holdings Company (NYSE: GHC) subsidiary, said it struck a deal with Nexstar Broadcasting Group, Inc. and Media General, Inc. to purchase WCWJ, a CW affiliate television station in Jacksonville, Florida and WSLS, an NBC affiliate television station in Roanoke, Virginia for $60 million in cash and the assumption of certain liabilities.

    The agreement to acquire Nextar Broadcasting included pension obligations. Graham Media Group, Inc. would continue to operate both stations under their current network affiliations.

    Graham Media said the acquisition is subject to approval by the FCC, other regulatory appr...



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    OpTrader

    Swing trading portfolio - week of May 23rd, 2016

    Reminder: OpTrader is available to chat with Members, comments are found below each post.

     

    This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

    We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

    Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

    To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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    Digital Currencies

    The Biggest Bitcoin Arbitrage Ever?

    Courtesy of Chris at CapitalistExploits

    Do you remember when you were growing up and all your friends were allowed Atari game consoles but you weren’t?

    Well, I do and the things seemed as foreign to me as Venus. Mostly because the little time I managed to spend on the gaming consoles when my friends weren’t hogging them I found it all a bit silly. I never “got” computer games, and to this day still have poor comprehension of things like Angry Birds.

    I suspect that many people around the world view Bitcoin in the same way as I view Angry Birds: with mild amusement and a general lack of understanding as to what the hell all the fuss is about.

    I was thinking of this since a buddy of mine recently started ...



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    All About Trends

    Mid-Day Update

    Reminder: Harlan is available to chat with Members, comments are found below each post.

    Click here for the full report.




    To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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    Biotech

    This Is Why Biotech Stocks May Explode Again

    Reminder: Pharmboy and Ilene are available to chat with Members.

    Here's an interesting article from Investor's Business Daily arguing that biotech stocks are beginning to recover from their recent declines, notwithstanding current weakness.

    This Is Why Biotech Stocks May Explode Again

    By 

    Excerpt:

    After a three-year bull run that more than quadrupled its value by its peak last July, IBD’s Medical-Biomed/Biotech Industry Group plunged 50% by early February, hurt by backlashes against high drug prices and mergers that seek to lower corporate taxes.

    ...



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    Mapping The Market

    About that debate last night

    Although we try to stay focused on finding and managing promising trade ideas, the comments in the comment section sometimes take a political turn (for access, try PSW — click here!). So today, Jean Luc writes,

    The GOP debate last night was just unreal – are these people running to be president of the US or to lead a college fraternity! Comparing tool size? The only guy that looks semi-sane is Kasich. The other guys are just like 3 jackals right now. 

    And something else – if Trump is the candidate, that little Romney speech yesterday is probably already being made into a commercial. And all these little snippets from the debate will also make some nice ads! If you are a conservative, you have to be scared now. 

    Phil writes back,

    I was expecting them to start throwing poop at each other &n...



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    Promotions

    PSW is more than just stock talk!

     

    We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

    PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

    News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

    If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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    Help One Of Our Own PSW Members

    "Hello PSW Members –

    This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

    Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

    http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

    Thank you for you time!




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    About Phil:

    Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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    Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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