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Archive for the ‘Benzinga’ Category

Sears And Others Insiders Have Been Buying

Courtesy of Benzinga.

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Both Sears Holdings and Sears Hometown and Outlet Stores have seen insider buying lately. So have Aircastle and Opko Health, which frequently see insiders scooping up shares.

Insiders may sell shares for any number of reasons, but conventional wisdom says that insiders really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. Pullbacks and sell-offs provide a perfect opportunity for investors who have faith in a company to snap up shares.

Here are some stocks that have seen insider buying recently.


Japanese trading company Marubeni Corp. has been scooping up batches of Aircastle (NYSE: AYR) shares since last August. That included more than 239,000 of them in the past two weeks, for more than $5.5 million. The jet-rental company Aircastle has been a rumored takeover target.

The market capitalization is about $1.5 billion and the long-term earnings per share (EPS) growth forecast is more than 34 percent. The dividend yield is about 4.3 percent. Shares have traded mostly between $18 and $20 since the end of October. Over the past six months, the stock has underperformed competitors Aercap and Air Lease.

See also: Hamblin Watsa’s Position Reduction In The Bank Of Ireland Raises A Red Flag


A hedge fund with a greater than 10 percent stake in Equinix (NASDAQ: EQIX) acquired more than $12.3 million worth of shares. That was almost 7,200 shares of this data center and Internet services company. An analyst upgraded the stock last week, citing potential growth in the cloud.

Equinix has a market cap of almost $9 billion. But its price-to-earnings (P/E) ratio is very high, and short interest is about 21 percent of the float. The share price hit…
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American States Water Company Announces Share Repurchase Program; To Buyback 1.25N Shares or 3.2% of the Float

Courtesy of Benzinga.

American States Water Company (NYSE: AWR) announced today that its Board of Directors has approved a stock repurchase program authorizing the Company to repurchase up to 1.25 million shares or 3.2% of its outstanding common shares from time to time through June 30, 2016. The Company intends to initiate the repurchase of the common shares through implementation of a Rule 10b5-1 trading plan in May 2014 at the earliest.

“This repurchase program is intended to enable the Company to achieve a consolidated shareholders’ equity ratio that is more reflective of appropriate equity ratios for our two first-tier subsidiaries, Golden State Water Company and American States Utility Services, Inc.,” said Robert J. Sprowls, President and Chief Executive Officer of AWR. He further stated, “The higher equity ratio currently existing for the consolidated company is partly the result of the sale in May 2011 of our Arizona subsidiary, Chaparral City Water Company, where we received approximately $30 million in cash at closing of the sale.” Since the sale, AWR has used the cash from the sale to repay borrowings under its revolving credit facility and invest in or lend to its two remaining subsidiaries. Based upon current expectations, including the projected infrastructure needs for Golden State Water Company and the expected growth of American States Utility Services, Inc. which is not capital intensive, management does not anticipate the Company will need to do a secondary common stock offering in the near term.

The repurchase program does not obligate the Company to acquire any specific number of shares and may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases.

American States Water Company is the parent of Golden State Water Company and American States Utility Services, Inc. Through its utility subsidiary, Golden State Water Company, AWR provides water service to approximately 257,000 customers throughout 10 counties in Northern, Coastal and Southern California. The Company also distributes electricity to approximately 24,000 customers in the Big Bear recreational area of California. Through its contracted services subsidiary, American States Utility Services, Inc., the Company provides operations,…
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Benzinga’s M&A Chatter for Thursday April 17, 2014

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday April 17, 2014.

Post Holdings to Acquire Michael Foods for $2.45B

The Deal:
Post Holdings (NYSE: POST) confirmed Thursday it will acquire Michael Foods from its owners, which include GS Capital Partners and affiliates of Thomas H. Lee Partners for $2.45 billion. It was rumored Wednesday that Post had beat out rival Tyson Foods (NYSE: TSN) for the right to acquire Michael Foods.

The deal is expected to close in Q2 2014.

Post Holdings closed Thursday at $54.25, a loss of $0.48.

Thor Acquires K-Z for $53.4M Cash

The Deal:
Thor Industries (NYSE: THO) announced Thursday that it had agreed to acquire the capital stock of RV manufacturer K-Z for approximately $53.4 million in cash. The transaction is closing effective May 1, 2014.

Thor Industries closed Thursday at $63.22, a gain of $0.60.

Chemtura to Sell Agrochemicals Business to Platform Specialty Products for $1B

The Deal:
Chemtura (NYSE: CHMT) announced Thursday that it has an agreement to sell its agrochemicals business, Chemtura AgroSolutions, to Platform Specialty Products (NYSE: PAH) for approximately $1 billion. The transaction is expected to close in H2 2014.

Chemtura closed at $23.16 on Thursday, a loss of 8%.

Posted-In: News Asset Sales M&A Movers

Nike Laying Off Fuel Band Team, According to CNET

Courtesy of Benzinga.

Nike (NYSE: NKE) is laying off 70-80 percent the engineers who created its FuelBand Fitness Tracker. according to a post that first surfaced on the social network Secret and was reported Saturday by CNET. Approximately 55 of the 70 employees on Nike’s Digital Sport hardware team are reportedly being cut.

View full article

Posted-In: CNETNews Rumors

UPDATE: Boeing Posts Better-Than-Expected Q1 Earnings

Courtesy of Benzinga.

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Boeing Co (NYSE: BA) reported better-than-expected first-quarter profit.

Boeing’s quarterly profit declined to $965 million, or $1.28 per share, from a year-ago profit of $1.11 billion, or $1.44 per share. Its adjusted earnings surged to $1.76 per share compared to $1.73 per share.

Its revenue climbed to $20.47 billion versus $18.89 billion. However, analysts were projecting earnings of $1.57 per share on revenue of $20.24 billion.

For the full year, Boeing expects adjusted earnings of $7.15 to $7.35 per share.

Boeing shares rose 1.92% to $130.00 in pre-market trading.

Posted-In: profitEarnings News Guidance

Actavis Completes Divestiture of Commercial Operations in Seven Western European Countries to Aurobindo Pharma Limited

Courtesy of Benzinga.

Actavis plc (NYSE: ACT) today announced that it has successfully completed the divestiture of its generics commercial operations in seven markets in Western Europe to Aurobindo Pharma Limited (BSE: 524804). The agreement to divest the commercial operations was announced in January 2014.

Actavis plc logo Aurobindo acquired Actavis’ pharmaceutical commercial infrastructure in France, Italy, Spain, Portugal, Belgium, Germany and the Netherlands, including products, marketing authorizations and dossier license rights. The two companies also entered into a long-term strategic supply arrangement.

About Actavis Actavis plc (NYSE: ACT) is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. Actavis has global headquarters in Dublin, Ireland and U.S. administrative headquarters in Parsippany, New Jersey, USA.

Actavis develops and manufactures generic, brand, branded generic, legacy brands and Over-the-Counter (OTC) pharmaceutical products and has commercial operations in approximately 60 countries. The Company’s North American branded pharmaceuticals business is focused principally in the Women’s Health, Urology, Gastroenterology and Dermatology therapeutic categories with a strong pipeline of products in various stages of development. Actavis also has a portfolio of five biosimilar products in development in Women’s Health and Oncology. Actavis Global Operations has more than 30 manufacturing and distribution facilities around the world, and includes Anda, Inc., a U.S. pharmaceutical product distributor.

For press release and other company information, visit Actavis’ Web site at

About Aurobindo Aurobindo Pharma Limited (, headquartered at Hyderabad, India, manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company’s manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The company’s robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up. The Company is marketing these products globally, in over 125 countries.

Aurobindo Europe represents a significant segment within the Group’s global presence. Aurobindo is committed to grow its operations in Europe considering the importance of the generic market. Since launching its European commercial operations in 2006 with the acquisition of Milpharm in the UK and Pharmacin in the Netherlands in 2007, Aurobindo has further expanded its footprint in continental Europe by commencing…
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Baylake Corp. Declares Dividend and Extends Stock Repurchase Program

Courtesy of Benzinga.

Baylake Corp. (NASDAQ: BYLK), the parent company for Baylake Bank, is pleased to announce that its Board of Directors on April 15, 2014 declared a quarterly dividend of $0.07 per share on the Company’s common stock. The dividend is payable on June 2, 2014 to shareholders of record on May 12, 2014.

In further action, Baylake Corp’s Board of Directors on April 15, 2014 extended the common stock repurchase program originally approved on May 23, 2013 allowing for up to an additional 400,000 shares of its common stock to be repurchased and extended the allotted time period for the repurchase to occur for a year to May 20, 2015. This program will allow the Company to continue to repurchase its shares as opportunities arise at prevailing market prices in the open market or privately negotiated transactions, the extent of such repurchases being dependent upon market conditions and other corporate considerations. Since inception, 299,500 shares of common stock have been repurchased under this program.

“The actions taken by the Baylake Corp. Board of Directors, both the dividend declaration and the common stock repurchase program extension, continue to support our ongoing intent to enhance shareholder returns while prudently managing Baylake Corp.’s capital levels,” said Robert J. Cera, President and CEO of Baylake Corp. and Baylake Bank.

Baylake Corp., the holding company for Baylake Bank, serves Northeast Wisconsin from 21 community financial centers throughout Brown, Door, Kewaunee, and Outagamie Counties.

Posted-In: News Buybacks

UPDATE: Allstate Awarded $3.8 Million in Fraud Judgment

Courtesy of Benzinga.

Based on a six-week jury trial, the United States District Court for the Northern District of Texas has entered a $3.8 million judgment in favor of Allstate Insurance Company (NYSE: ALL). The jury found that Michael Kent Plambeck, D.C., Jennifer Giessner, Douglas Friedman, Randal Toca, and other persons and entities engaged in a pattern of racketeering activity in violation of the Federal Racketeering Influenced and Corrupt Organizations Act (RICO) and the Ohio Corrupt Practices Act. This judgment sets the stage for the company to vigorously fight this type of healthcare fraud, so it can continue offering competitive products in the involved states.

Allstate logo. (PRNewsFoto/Allstate Insurance Company)

“Insurance fraud affects all policyholder’s premiums, and it’s not fair for consumers to pay higher rates for this type of behavior,” says Allstate Spokesperson Michelle Therrien. “We are committed to protecting our customers from being victimized by this type of fraud.”

The RICO complaint filed by Allstate alleged an intricate multi-state scheme involving the operation of chiropractic clinics, law offices, and telemarketing entities, in Texas, Louisiana, Ohio, Alabama, and other states. Allstate alleged the organization solicited persons involved in automobile accidents, ran them though unnecessary treatment, and referred them to associated personal injury law offices in order to make claims against Allstate and its insureds. Allstate presented evidence of a pattern of racketeering activity in violation of RICO, including use of the U.S. Mail and interstate wire transmissions to facilitate the scheme, and interstate transportation of money wrongfully obtained through the scheme. In addition to Plambeck, Giessner, Friedman, and Toca, the jury found that Michael Capobianco, D.C., Paul Grindstaff, D.C., Chiropractic Strategies Group, Inc., Media Placement Services, Inc., and a number of clinic entities in Texas, Ohio and Alabama were also involved in the racketeering organization.

“This case demonstrates our commitment to fight fraud wherever it lives and the victory is a testament to our zero-tolerance approach in the fight against insurance fraud,” Therrien said.

The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, serving approximately 16 million households through its Allstate, Encompass, Esurance and Answer Financial brand names and Allstate Financial business segment. Allstate branded insurance products (auto, home, life and retirement) and services are offered through…
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Hamblin Watsa’s Position Reduction In The Bank Of Ireland Raises A Red Flag

Courtesy of Benzinga.

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In 2011 Hamblin Watsa, a subsidiary of Fairfax Financial Holdings, opened a significant position in the Bank of Ireland (NYSE: IRE) and until the most recent quarter was the second largest holder of the bank. However, the fund has cut its position by a third this quarter.

In a March letter the fund told investors it was taking profits. But is there more to the story?

After entering at ten Euro cents per share the investment is up 180 percent as of Friday’s close. The letter reads: “because of the significant appreciation in our position in the Bank of Ireland, we
rebalanced that position by selling a third of it at approximately 33 euro cents per share. The Bank of Ireland has been one of our most successful investments because of the outstanding performance.”

Insider Insights?

As noted above, Hamblin Watsa is a fully owned subsidiary of Fairfax. Here is where things get questionable. Bradley Martin is the vice president of strategic investments for Fairfax and has been a director at the Bank of Ireland since 2012.

Related: Benzinga Weekly Preview: Short But Action Packed Week Ahead

As a board member at the Bank of Ireland it is more than likely that Martin has more information on the bank than the general public. This raises the question of whether tough times are in store for the bank in the near future.

A study from the University of Chicago on insider trading and future cash flows states, “We find strong evidence that insider trades are positively associated with the firm’s future earnings performance. This relation is shown to be incremental to the book-to-market and past return relation documented Rozeff and Zaman (1998), suggesting that insiders trade on both transitory security misvaluation and private information…
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Apple Soars Following Q2 Top & Bottom Line Beat, Stock Split, Dividend Raise, Increased Buyback

Courtesy of Benzinga.

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Apple (NASDAQ: AAPL) just reported second quarter results which significantly beat analyst estimates, sending the stock soaring over eight percent after trading resumed.

The company reported earnings per share of $11.62 versus $10.17 analyst estimates. Revenue came in at $45.65 billion versus $43.55 billion analyst estimates. Revenues were up 4.7 percent from $43.6 billion a year ago.

Apple also announced a 7-for-1 stock split, raised the stock buyback plan by $30 billion to $130+ billion and increased the quarterly dividend by eight percent from $3.05 to $3.29 per share.

Sales for the iPhone came in at 43.7 million, iPads at 16.35 million, and Macs at 4.1 million.

Management sees third quarter sales in the range of $36.0-$38 billion versus analyst estimates of $37.87 billion.

“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO.

As of this writing, shares of Apple are up over seven percent after hours.

Posted-In: iPad iPhone Mac Tim CookEarnings News Guidance Dividends Stock Split After-Hours Center


Insider Scoop

Delhaize Group Announces Sale of Bosnian & Herzegovinian Stores

Courtesy of Benzinga.

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Delhaize Group (Euronext Brussels: DELB, NYSE: DEG), the Belgian international food retailer, announces that it has signed an agreement with Tropic Group B.V. on the sale of its Bosnian & Herzegovinian stores.

Delhaize Group has signed an agreement with Tropic Group B.V., to divest all of its 39 Bo... more from Insider

Phil's Favorites

Groupthink Or Black Swan Rising? Not A Single 'Economist' Expects An Economic Downturn

Courtesy of Pater Tenebrarum of Acting-Man

A 100% Consensus

This doesn't happen very often. Marketwatch reports that Jim Bianco points out in a recent market comment that the 67 economists taking part in a regular Bloomberg survey have a unanimous forecast regarding treasury bond yields: they will be higher 6 months from now. This is a truly striking result, and given the well-known propensity of mainstream economists to guess wrong (their forecasts largely consist of extrapolating the most recent short term trend), it may provide us with a few insights.

In fact, considering that there have been only a handful of instances since 2009 when a majority of the economists surveyed predicted a decline in yields, we can already state that their forecasts regarding tre...

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Zero Hedge


Courtesy of ZeroHedge. View original post here.

Submitted by williambanzai7.


Actually, it is their NYPD, not ours.


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Chart School

Get Ready for Europe to Print

Courtesy of Doug Short.


  • Core Eurozone CPI inflation rate falls to 0.70%, a multi-decade low
  • This occurs at a time when the PIGS' average unemployment rate rests near 24%
  • Deflation threat in Europe real as GDP in Europe likely to peak this year
  • European hawks moving towards dovish side of the fence, opening door for more QE
  • Implications: stronger European stock market, stronger USD, weaker commodity prices, stronger global growth

Back in February I laid the groundwork for why we should expect to see the European Central Bank (ECB) massively expand its balance sheet (see article). The case for expecting to see the ECB print is only increasing as core Eurozone inflation is c...

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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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Market Shadows

Soy Numero Uno

Soy Numero Uno

By Paul Price of Market Shadows

Bunge Limited (BG) is the world’s largest processor of soybeans. It is also a major producer of vegetable oils, fertilizer, sugar and bioenergy.

When commodities got hot in 2007-08, Bunge’s EPS shot up and the stock followed, rising 185% in 19 months.

The Great Recession took its toll on operations, dropping EPS to a low of $2.22 in 2009.  Since then profits have recovered.  They ranged from $4.62 - $5.90 in the latest three years. 2014 appears poised for a large increase. Consensus views from multiple sources see BG earning $7.04 - $7.10 this year and then $7.83 - $7.94 in 2015.


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Option Review

Casino Stocks LVS, WYNN On The Run Ahead of Earnings

Shares in Las Vegas Sands Corp. (Ticker: LVS) are up sharply today, gaining as much as 5.7% to touch $80.12 and the highest level since April 4th, mirroring gains in shares of resort casino operator Wynn Resorts Ltd. (Ticker: WYNN). The move in Wynn shares appears, at least in part, to follow a big increase in target price from analysts at CLSA who upped their target on the ‘buy’ rated stock to $350 from $250 a share. CLSA also has a ‘buy’ rating on Las Vegas Sands with a $100 price target according to a note from reporter, Janet Freund, on Bloomberg. Both companies are scheduled to report first-quarter earnings after the closing bell on Thursday.


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What the Market Wants: Market Poised to Head Higher: 3 Stocks to Consider

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

Courtesy of David Brown, Sabrient Systems and Gradient Analytics

Yesterday, the market continued its winning ways for the fifth consecutive day.  The S&P 500 closed within 1% of its all-time high, and the DJI was even closer to its all-time high.  Healthcare, Energy and Technology led the sectors while Financials, Telecom, and Utilities finished slightly in the red.  All three sectors in the red are typically flight-to-safety stocks, so despite lower than average volume, the market appears poised to make new highs.

Mid-cap Growth led the style/caps last week, up 2.87%, and Small-cap Growth trailed, up 2.22%. This week will bring well over 100 S&P 500 stocks reporting their March quarter earn...

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Swing trading portfolio - Week of April 21st, 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 this week's Stock World Weekly. Click here and sign in with your PSW user name and password, or sign up for a free trial.


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Digital Currencies

Facebook Takes Life Seriously and Moves To Create Its Own Virtual Currency, Increases UltraCoin Valuation Significantly

Courtesy of ZeroHedge. View original post here.

Submitted by Reggie Middleton.

The Financial Times reports:

[Facebook] The social network is only weeks away from obtaining regulatory approval in Ireland for a service that would allow its users to store money on Facebook and use it to pay and exchange money with others, according to several people involved in the process. 

The authorisation from Ireland’s central bank to become an “e-money” institution would allow ...

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See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.

Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.

Follow this link to register for their training webinar where they’ll demonstrate the tested and proven Algorithm powered by the same technological principles that have made GOOGLE the #1 search engine on the planet!

And get this…had you done nothing b...

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Here We Go Again - Pharma & Biotechs 2014

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

Ladies and Gentlemen, hobos and tramps,
Cross-eyed mosquitoes, and Bow-legged ants,
I come before you, To stand behind you,
To tell you something, I know nothing about.

And so the circus begins in Union Square, San Francisco for this weeks JP Morgan Healthcare Conference.  Will the momentum from 2013, which carried the S&P Spider Biotech ETF to all time highs, carry on in 2014?  The Biotech ETF beat the S&P by better than 3 points.

As I noted in my previous post, Biotechs Galore - IPOs and More, biotechs were rushing to IPOs so that venture capitalists could unwind their holdings (funds are usually 5-7 years), as well as take advantage of the opportune moment...

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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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