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Benzinga's M&A Chatter for Tuesday November 25, 2014

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday November 25, 2014:

Visteon Confirms Discussions with Hahn & Co. Regarding Potential Sale of Halla Visteon Climate Control Corp Stake

The Talks:
Visteon Corporation (NYSE: VC) confirmed Tuesday, it is currently engaged in discussions with Korea’s Hahn & Company regarding a potential sale of Visteon’s ownership interest in Halla Visteon Climate Control Corp.

to the private equity firm. Reuters reported on Sunday, that Visteon was preparing to sell its 69.99% stake in Halla Visteon in a deal said to be valued at approximately $3.6 billion, according to a source.

Visteon Corporation closed Tuesday at $98.36, a loss of 1%.

Carlyle Group to Acquire Stake in South Africa’s Tiger Wheel & Tyre

The Rumor:
U.S. private equity firm The Carlyle Group LP (NASDAQ: CG) is preparing to take a stake in South Africa’s Tiger Wheel & Tyre, according to Reuter. The deal values the tyre dealer at approximately $158 million, according to a source.

Carlyle Group shares lost $0.23 Tuesday, to close at $129.23.

Papa John’s acquires Pizza Corner stores in South India

The Deal:
Papa John’s International, Inc. (NASDAQ: PZZA), Avan Projects and Global Franchise Architects announced Monday, the acquisition of Pizza Corner stores in South India. Papa John’s will convert the existing Pizza Corner stores to Papa John’s branded restaurants through Q1 2015. Papa John’s confirms its commitment to expand its presence in India, specifically in Bangalore, Chennai and Hyderabad.

GFA brands’ Pizza Corner, is the third largest pizza chain in Southern India. The minimum of 40 store conversions will begin in late 2014 and continuing into 2015.

Papa John’s closed Tuesday at $52.17, a gain of 2.5%.

Posted-In: News Rumors M&A





Analyst Sees More News In Works At Intrawest Resorts

Courtesy of Benzinga.

Related SNOW
Earnings Scheduled For September 12, 2014
Earnings Scheduled For May 13, 2014

Intrawest Resorts Holdings, Inc. (NYSE: SNOW)'s unexpected replacement of its chief executive recently could presage "significantly more news in coming months," an analyst said on Monday.

Bank of America analyst Shaun C. Kelley thinks the company could be preparing for some "financial engineering," although he didn't speculate on specific strategies.

The company is majority-owned by Fortress Group, which took Intrawest private in 2006. Since going public again about a year ago, shares have performed poorly, while its books currently include a net operating loss carry-forwards equal to $12 a share.

"Plus there is another $4 a share in raw land and $7 related to the core ski business," Kelley said.

The company operates the Whistler-Blackcomb ski resort near Vancouver as well as a half-dozen other major ski areas. It also runs the heli-skiing concern Canadian Mountain Holidays.

Intrawest closed Monday at $10.82, up about 5 percent since last week when it named Thomas F. Marano chief executive effective immediately. William A. Jensen resigned as CEO, for "personal reasons."

Kelley noted that Marano lacks industry experience and had reportedly been better paid at his previous job heading Residential Capital, a unit of what is now Ally Financial Inc. (NYSE: ALLY).

"So what attracted him to Intrawest?" Kelley asked rhetorically.

Marano will receive a base salary of $700,000, plus options on 2.7 million shares and a "personal, 25 percent of 'value created' in new business ventures," according to Kelley.

Calling Marano's arrival "totally unexpected," Kelley noted the lack of an interim search period and said he's rarely seen "such a unique carve out for side projects that could personally benefit the CEO."

Kelley maintained a Buy rating and $17 target.

Latest Ratings for SNOW

Date Firm Action From To
Sep 2014 Bank of America Maintains Buy
Feb 2014 Credit Suisse Initiates Coverage on Outperform
Feb 2014 Deutsche Bank Initiates Coverage on Hold

View More Analyst Ratings for SNOW
View the Latest Analyst Ratings

Posted-In: Analyst Color News Reiteration Management Analyst Ratings





UPDATE: Citi Research Initiates Coverage On Nu Skin Enterprises

Courtesy of Benzinga.

Related NUS
UPDATE: BTIG Research Initiates Coverage On Nu Skin Enterprises On Multiple Challenges Ahead
Nu Skin Enterprises Conference Call Highlights
Herbalife Tumbles as FBI Probe Comes to Light (Fox Business)

On Tuesday, Citi Research analysts initiated coverage on shares Nu Skin Enterprises, Inc. (NYSE: NUS) with a Neutral rating and $46 price target.

Beth Kite stated, “despite the much-lowered EPS expectations for 2015, until we see less risk to EPS and/or a stronger probability for upside—from either a rebound in China or more visibility into 2015 innovation plans—we think it’s still too early to call an inflection in the stock.”

"Upcoming catalysts: Dec. 4 Citi visits Nu Skin in Shanghai; Dec. 12 the company hosts its Investor Day, analysts expect to hear a long-term strategy for China, innovation roll-out plans and the potential for re-entry into Brazil."

Shares of Nu Skin Enterprises were trading up 1 percent Tuesday morning.

Latest Ratings for NUS

Date Firm Action From To
Nov 2014 Citigroup Initiates Coverage on Neutral
Nov 2014 BTIG Research Initiates Coverage on Neutral
Nov 2014 Bank of America Maintains Underperform

View More Analyst Ratings for NUS
View the Latest Analyst Ratings

Posted-In: beth kite CitigroupAnalyst Color Price Target Initiation Analyst Ratings





Sterne Agee: Macau Gross Gaming Revenue 20% Lower In November, Las Vegas Sands Market Leader

Courtesy of Benzinga.

Related LVS
Deutsche Bank Highlights Themes In Gaming & Lodging Sector
4 Ways To Manage Risk In Your Portfolio
Making Money With Charles Payne: 10/16/14 (Fox Business)

David Bain of Sterne Agee reported on Tuesday that based on his channel checks, November Macau table-only gross gaming revenue (GGR) was Macau patacas (MOP) 17.9 billion ($2.24 billion) through November 23. The analyst adds  that including slot assumptions, the November GGR run-rate implies a negative 20 percent year-over-year monthly result.

Bain states that October visitation to Macau rose 11 percent year-over-year with arrivals from Mainland China increasing 20 percent and now represents 69 percent of total visitations.

The analyst notes that the visitation figures "demonstrate the desirability (especially of Mainland Chinese) to continue to visit Macau."

However, given the declines in gaming revenues, Bain states that the quality of customers visiting Macau continues to be "relatively weak" compared to a year ago, given China's recent anticorruption campaign and a "choppy" Mainland China macroeconomic backdrop.

Based on Bain's checks, Las Vegas Sands Corp. (NYSE: LVS) held a 23.1 percent table-only market share, making the casino operator the market leader in the region.

Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL) held a 13.1 percent market share, making the company the fourth-largest operator by market share. MGM Resorts International (NYSE: MGM) ranked one spot lower with an 11.0 percent market share, while Wynn Resorts, Limited (NASDAQ: WYNN) ranked last in the region with a 7.5 percent market share.

Latest Ratings for LVS

Date Firm Action From To
Oct 2014 Stifel Nicolaus Maintains Buy
Oct 2014 Bank of America Downgrades Buy Neutral
Oct 2014 Deutsche Bank Downgrades Buy Hold

View More Analyst Ratings for LVS
View the Latest Analyst Ratings

Posted-In: David Bain Macau Sterne AgeeAnalyst Color News Global Analyst Ratings





UPDATE: Stifel Upgrades Progressive Waste Solutions

Courtesy of Benzinga.

Related BIN
Credit Suisse Downgrades Environmental Services Space
Top 4 Mid-Cap Stocks In The Waste Management Industry With The Lowest PEG Ratio

Stifel upgraded Progressive Waste Solutions Ltd (NYSE: BIN) to Buy and Tuesday with a $37 price target.

Analysts Michael Hoffman and Brian Butler noted that in “early November we traveled with CEO Joe Quarin to visit institutional investors.

“We realized that BIN would truly reduce its long-term capital spending to a 9 percent to 10 percent range including reasonable growth and that efforts to repair the margins in Canada and more importantly in the US-North can and should occur in a timely manner.

“The latter being buoyed by, but not dependent on the sale of Long Island which could be announced by year-end. We think of BIN as having great assets in Canada, well positioned in the US-South and in transition in the US-North.”

The analyst report commented that Cash Flow From Operations (CFFO) “matters and it is clearly a focus since it is a reflection of the income statement productivity gains. However, the single biggest lever to FCF is capital spending.

“BIN needs to bring total capital spending down to a 10 percent level with about 8.5 percent for maintenance and 1.5 percent for growth. This has been a company that liked to spend money. We now believe a real behavior change is underway. We estimate FCF could be 11.5 percent to 12 percent of sales in 2015.”

Progressive Waste Solutions closed Monday at $30.57, up 1.02 percent.

Latest Ratings for BIN

Date Firm Action From To
Nov 2014 Stifel Nicolaus Upgrades Hold Buy
Nov 2014 Macquarie Upgrades Underperform Neutral
Sep 2014 Alta Corp Initiates Coverage on Outperform

View More Analyst Ratings for BIN
View the Latest Analyst Ratings

Posted-In: Brian Butler Michael Hoffman StifelAnalyst Color Upgrades Price Target Analyst Ratings





Jefferies Upgrades Williams Partners To Buy

Courtesy of Benzinga.

Related WPZ
Williams Partners Expects Its Expanded Geismar Plant To Startup, Manufacture Ethylene In November
What Does Jim Cramer Think Is One Of The Greatest Pipeline Companies The U.S. Is Ever Going To See?
Williams to Take Over Access Midstream for $6B (Fox Business)

Analysts at Jefferies upgraded Williams Partners L.P. (NYSE: WPZ) from Hold to Buy.

The price target for Williams Partners has been raised from $56 to $62.

Williams Partners shares have gained 5.19% over the past 52 weeks, while the S&P 500 index has surged 14.79% in the same period.

Williams Partners’ shares fell 0.98% to close at $53.49 yesterday.

Latest Ratings for WPZ

Date Firm Action From To
Nov 2014 Jefferies Upgrades Hold Buy
Oct 2014 Citigroup Maintains Buy
Oct 2014 Credit Suisse Maintains Neutral

View More Analyst Ratings for WPZ
View the Latest Analyst Ratings

Posted-In: JefferiesUpgrades Analyst Ratings





Macquarie Initiates Stifel Financial With Outperform

Courtesy of Benzinga.

Related SF
Top 4 Stocks In The Investment Brokerage-Regional Industry With The Highest Revenue
Earnings Scheduled For November 6, 2014
Stifel to Buy Legg Mason's Investment Advisory Unit (Fox Business)

Analysts at Macquarie initiated coverage on shares of Stifel Financial (NYSE: SF) with a Outperform rating.

The target price for Stifel Financial is set to $58.

Stifel Financial shares have gained 4.08% over the past 52 weeks, while the S&P 500 index has surged 14.79% in the same period.

Stifel Financial’s shares rose 1.35% to close at $47.17 yesterday.

Latest Ratings for SF

Date Firm Action From To
Nov 2014 Macquarie Initiates Coverage on Outperform
Apr 2014 Susquehanna Upgrades Negative Neutral
Jan 2014 Credit Suisse Initiates Coverage on Neutral

View More Analyst Ratings for SF
View the Latest Analyst Ratings

Posted-In: MacquarieInitiation Analyst Ratings





Wunderlich Downgrades Brocade Communications To Hold

Courtesy of Benzinga.

Related BRCD
Keep an Eye on These 7 Stocks for November 25, 2014
Brocade Communications Beats Q4 Views; Mum On Take-Out Rumor
Good Time to Buy Brocade Communications? (Fox Business)

Analysts at Wunderlich downgraded Brocade Communications Systems (NASDAQ: BRCD) from Buy to Hold.

The price target for Brocade Communications is set to $12.

Brocade Communications shares have jumped 35.30% over the past 52 weeks, while the S&P 500 index has surged 14.79% in the same period.

Brocade Communications’ shares fell 2.05% to $11.45 in after-hours trading.

Latest Ratings for BRCD

Date Firm Action From To
Nov 2014 Wunderlich Downgrades Buy Hold
Sep 2014 Summit Research Upgrades Sell Hold
Sep 2014 Wunderlich Maintains Buy

View More Analyst Ratings for BRCD
View the Latest Analyst Ratings

Posted-In: WunderlichDowngrades Analyst Ratings





Mid-Day Losers From November 25: Revolution Lighting, Casey's General Stores, Beacon Roofing, Workday, Pandora Media

Courtesy of Benzinga.

Revolution Lighting Technologies Inc (NASDAQ: RVLT) -15% – The company announced a $10 million underwritten common stock offering on Tuesday morning.

Casey’s General Stores Inc (NASDAQ: CASY) -9% – Late Monday, the company announced that its financial results must be revised due to a tax related error.

Beacon Roofing Supply, Inc. (NASDAQ: BECN) -7% – The company reported financial results Tuesday morning, missing estimates.

Workday Inc (NYSE: WDAY) -6% – Despite beating estimates, shares are lower as analysts at several firms negatively adjusted estimates and investment ratings.

Pandora Media Inc (NYSE: P) -5% Shares are lower as FBR analysts downgraded shares from Market Perform to Underperform and lowered the price target from $28 to $11.

Posted-In: Intraday Update Movers





UPDATE: FBR Downgrades Pandora

Courtesy of Benzinga.

Related P
Fast Money Picks For November 19: Toyota Motor, Apple, Pandora, Qualcomm
Spotify Sets Sights On Growth Despite Recent Arguments With Taylor Swift
Making Money With Charles Payne: 10/23/14 (Fox Business)

Shares of Pandora Media Inc (NYSE: P) are trending lower following negative coverage from FBR analysts. Tuesday morning, Barton Crockett downgraded shares of Pandora from Market Perform to Underperform and lowered the price target from $28 to $11.

Crockett finds potential risk in the “debilitating cost structures” emerging from Copyright Royalty Board setting 2016–2020 royalty rates.

In addition, Crockett views Apple iTunes radio as meaningful precedent. Apple has minimum guarantee of 45 percent of revenue. Crockett feels 45 percent minimum would be an issue for Pandora in the long-term.

Shares of Pandora Media recently traded at $18.56, down 6 percent.

Latest Ratings for P

Date Firm Action From To
Nov 2014 FBR Capital Downgrades Market Perform Underperform
Oct 2014 Albert Fried & Co. Downgrades Market Perform Underweight
Oct 2014 Susquehanna Downgrades Positive Neutral

View More Analyst Ratings for P
View the Latest Analyst Ratings

Posted-In: Barton Crockett FBR CapitalAnalyst Color Downgrades Price Target Analyst Ratings





 
 
 

Zero Hedge

The REAL Looting Is Happening On Wall Street ... Not In Ferguson

Courtesy of ZeroHedge. View original post here.

Submitted by George Washington.

Images by William Banzai ... OBVIOUSLY!  

The looting in Ferguson, Missouri is bad.    The looters are giving the peaceful protesters against the shooting of Michael Brown ...



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Chart School

Moving Averages: Month-End Preview

Courtesy of Doug Short.

Here is a preview of the monthly moving averages I track after the close of the last business day of the month. All three S&P 500 strategies are now signaling "invested" -- unchanged from last month. Two of the five of the Ivy Portfolio ETFs, the Vanguard FTSE All-World ex-US ETF (VEU) and the PowerShares DB Commodity Index Tracking (DBC, are signal "cash" -- also unchanged from last month.

If a position is less than 2% from a signal, it is highlighted in yellow.


Note: My inclusion of the S&P 500 index updates is intended to illustrate a popular moving moving-average timing strategy. The index signals also give a general sense of how US equities are behaving. However, ...



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Insider Scoop

Benzinga's M&A Chatter for Tuesday November 25, 2014

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday November 25, 2014:

Visteon Confirms Discussions with Hahn & Co. Regarding Potential Sale of Halla Visteon Climate Control Corp Stake

The Talks:
Visteon Corporation (NYSE: VC) confirmed Tuesday, it is currently engaged in discussions with Korea's Hahn & Company regarding a potential sale of Visteon's ownership interest in Halla Visteon Climate Control Corp.

to the private equity firm. Reuters reported on Sunday, that Visteon was preparing to sell its 69.99% stake in Halla Viste...



http://www.insidercow.com/ more from Insider

Phil's Favorites

Merkel Will Blink First, Not Putin

Courtesy of Mish.

The cold war took another twist last week when a Senior German Politician Endorsed Russian Takeover of Crimea.
Former state premier Matthias Platzeck, chairman of the German-Russian Forum business lobby and erstwhile Social Democrat (SPD) chief, is the first high-ranking German to say the West should endorse the annexation as a way to help resolve the Ukraine crisis.

Platzeck, 60, told the Passauer Neue Presse newspaper: "A wise man changes his mind - a fool never will... The annexation of Crimea must be retroactively arranged under international law so that it's acceptable for everyone."

Platzeck, Brandenburg's popular state premier from 2002 to 2013, struck a nerve in eastern Germany where there is far less support for sa...



more from Ilene

All About Trends

Mid-Day Update

Reminder: David 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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Sabrient

Sector Detector: Holiday fever takes hold of stock investors, but a pullback is needed

Courtesy of Sabrient Systems and Gradient Analytics

With warmer weather arriving to melt the early snowfall across much of the country, investors seem to be catching a severe case of holiday fever and positioning themselves for the seasonally bullish time of the year. And to give an added boost, both Europe and Asia provided more fuel for the bull’s fire last week with stimulus announcements, particularly China’s interest rate cut. Yes, all systems are go for U.S. equities as there really is no other game in town. But nothing goes up in a straight line, not even during the holidays, so a near-term market pullback would be a healthy way to prevent a steeper correction in January.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based Sector...



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Digital Currencies

Bitcoin Mining

Bitcoin Mining

Courtesy of Global Economic Intersection

By Rod Garratt and Rosa Hayes - Liberty Street Economics, Federal Reserve Bank of New York

In June 2014, the mining pool Ghash.IO briefly controlled more than half of all mining power in the Bitcoin network, awakening fears that it might attempt to manipulate the blockchain, the public record of all Bitcoin transactions. Alarming headlines splattered the blogosphere. But should members of the Bitcoin community be worried?

Miners are members of the Bitcoin community who engage in a proce...



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OpTrader

Swing trading portfolio - week of November 25th, 2014

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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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's the Happy Thanksgiving Edition of Stock World Weekly!

Click on this link and sign in with your PSW user name and password. 

Picture via Pixabay.

...

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Market Shadows

Official Moves in the Market Shadows' Virtual Portfolio

By Ilene 

I officially bought 250 shares of EZCH at $18.76 and sold 300 shares of IGT at $17.09 in Market Shadows' Virtual Portfolio yesterday (Fri. 11-21).

Click here for Thursday's post where I was thinking about buying EZCH. After further reading, I decided to add it to the virtual portfolio and to sell IGT and several other stocks, which we'll be saying goodbye to next week.

Notes

1. th...



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Option Review

Yamana Gold call options sink

Yamana Gold call options sink

By Andrew Wilkinson at Interactive Brokers

A four-year low for the spot price of gold has had a devastating impact on Yamana Gold (Ticker: AUY), with shares in the name down at the lowest price in six years. Some option traders were especially keen to sell premium and appear to see few signs of a lasting rebound within the next five months. The price of gold suffered again Wednesday as the dollar strengthened and stock prices advanced. The post price of gold fell to $1145 adding further pain to share prices of gold miners. Shares in Yamana Gold tumbled to $3.62 and the lowest price since 2008 as call option sellers used the April expiration contract to write premium at the $5.00 strike. That strike is now 38% above the price of the stock. Premium writers took in around 16-cents per contract o...



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Pharmboy

Biotechs & Bubbles

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

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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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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About Ilene:

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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