Silgan Retains Neutral Tag - Analyst Blog

On July 5, we maintained our Neutral recommendation on Silgan Holdings Inc. (SLGN) based on expected benefits from its successful acquisitions, increasing productivity and cost reduction initiatives as well as decline in resin prices. However, soft demand in Europe, a high debt-to-capitalization ratio and lower volume expectation remain concerns for this manufacturer of metal and plastic consumer goods packaging products.

Why Reiterated?

Silgan Holdings' first-quarter 2013 earnings declined 10% year over year to 46 cents per share, due to higher resin costs and macroeconomic conditions in Europe. Total revenue increased 4% year over year to $796 million.

Resin costs were a headwind to both the Plastics and Closures segments in the first quarter. However, in the second half of fiscal 2013, resin headwinds will turn into tailwinds due to the recent decline in polypropylene prices.

The company's recent acquisition of Rexam's high-barrier food business will not only add to its growth platform through an adjacent product/technology, but also augment its scope for international expansion. The acquisition is expected to be accretive to 2013 earnings.

Silgan Holdings continues to enhance profitability through productivity and cost reduction opportunities. In 2013, Silgan is expected to witness improvement in the core metal food can business from volume growth and benefits from lean manufacturing initiatives as well as continued profit improvement in the legacy plastics business from greater operational efficiencies.

Silgan is funding two major initiatives to promote the food can as a sustainable long-term packaging solution for shelf-stable products - Can Vision 2020 and an industry-wide campaign through the Can Manufacturing Institute. The Can Vision 2020 program aims to reduce the overall supply chain cost of the food can. According to the company, there exists long-term cost reduction opportunities of $200 million across the supply chain. The seco! nd initiative in collaboration with the Can Manufacturing Institute is intended to improve consumers' perception and increase awareness regarding the advantages of the food can compared with other forms of food preservation/delivery.

On the flipside, Silgan's exposure to Europe has increased following its Vogel & Noot acquisition and expansion of the Closures segment in the region, accounting for almost 50% of the segment's revenues. With the European conditions expected to remain challenging, we expect results to be affected over the next few quarters.

Furthermore, Silgan Holdings' high debt-to-capitalization ratio is a concern. As of Mar 31, 2013, its debt-to-capitalization ratio was 78%. Its strategy to take up debt to finance acquisitions will further aggravate the company's debt position.

Other Stocks to Consider

Other stocks in the industry that are currently performing well and have a good visibility include Mobile Mini, Inc. (MINI), with a Zacks Rank #1 (Strong Buy), and Berry Plastics Group, Inc. (BERY) and Rock-Tenn Company (RKT), both carrying a Zacks Rank # 2 (Buy).

Array - Loxo Collaborate - Analyst Blog

Array BioPharma, Inc. (ARRY) and Loxo Oncology, Inc recently announced a license and collaboration agreement. The agreement involves a multi-year licensing and collaboration deal for a preclinical development candidate (discovered by Array) and related intellectual property. Loxo and Array will also collaborate for the discovery and development of small molecule drugs targeting novel oncology indications.

Array's preclinical research activities under the deal will be funded by Loxo. Loxo will select targets and carry out studies. The agreement makes Array eligible for milestone payments up to $434 million as well as royalties on sales of any drugs developed and commercialized under this deal. Array also received shares in Loxo.

This deal is in line with Array's strategy of focusing on oncology. Array has entered into several collaborations with big companies and amassed a total of $577.9 million in research funding and up-front and milestone payments from collaboration partners from inception till Jun 30, 2012.

The company has also been quite active in collaboration activities this year. In May 2013, Array entered into a collaboration agreement with Oncothyreon Inc. (ONTY) to develop and commercialize ARRY-380, which is being developed for the treatment of breast cancer. According to the agreement, Array will receive an upfront fee of $10 million on the initiation of the collaboration. Similar to the collaboration with Loxo, this agreement also includes the funding of clinical development by Oncothyreon.

Array is focused mainly on the development and commercialization of targeted small molecule drugs for the treatment of cancer patients. We note that it has graduated into a late-stage development company with a few candidates approaching phase III by the end of 2013.

The company recently initiated a phase III study (MILO: n=300) on MEK162 in patients suffering from low-grade serous ovarian cancer (LGSOC). It consequently received a $5 million milestone payment ! from partner, Novartis AG (NVS), following the initiation of the study.

Currently, Array BioPharma carries a Zacks Rank #2 (Buy). However, biopharma stocks such as Jazz Pharmaceuticals Public Limited Company (JAZZ) look more attractive with a Zacks Rank #1 (Strong Buy).

Will Manpower's Earnings Beat? - Analyst Blog

ManpowerGroup Inc. (MAN) is slated to report its second-quarter 2013 results on Jul 19, 2013. In the last quarter, it posted a positive surprise of 40%. Let's see how things are shaping up for this announcement.

Growth Factors this Past Quarter

Effective cost management and tax credits earned in France facilitated ManpowerGroup to come up with better-than-expected first-quarter 2013 results. Manpower is now contemplating on exiting lower margin business and venturing into high margin business. The ManpowerGroup Solutions, the company's high margin business, sustained its growth momentum during the quarter. Alongside, Manpower is focusing on abridging costs.

Earnings Whispers?

Our proven model does not conclusively show that Manpower is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP (Read: Zacks Earnings ESP: A Better Method) and a Zacks Rank #1, #2 or #3 for this to happen. This is not the case here as you will see below.

Zacks ESP: ESP for Manpower is 0.00%. This is because the Most Accurate Estimate stands at 89 cents, which is in line with the Zacks Consensus Estimate.

Zacks Rank #1 (Strong Buy): Manpower's Zacks Rank #1 (Strong Buy) lowers the predictive power of ESP because the Zacks Rank #1 when combined with 0.00% ESP makes surprise prediction difficult. We caution against stocks with Zacks Ranks #4 and #5 (Sell rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions momentum.

Stocks that Warrant a Look

Here are some other companies you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:

Deckers Outdoor Corp. (DECK), Earnings ESP of +13.21% and a Zacks Rank #2 (Buy).

The Gap, Inc. (GPS), Earnings ESP of +1.70% and a Zacks Rank #2 (Buy).

R! ent-A-Center, Inc. (RCII), Earnings ESP of +1.33% and a Zacks Rank #3 (Hold).

Will United Technologies See Higher Prices?

With shares of United Technologies (NYSE:UTX) trading around $93.49, is UTX an OUTPERFORM, WAIT AND SEE or STAY AWAY? Let's analyze the stock with the relevant sections of our CHEAT SHEET investing framework:

T = Trends for a Stock’s Movement

United Technologies provides technology products and services to the building systems and aerospace industries worldwide. The Company operates in six segments: Otis, Carrier, UTC Fire & Security, Pratt & Whitney, Hamilton Sundstrand and Sikorsky. Air travel and defense has been rising in importance over the last decade or so. Governments around the world consistently demand improved aerial technology. Companies and consumers also demand improved efficiency and reduced prices. As air gains market share as a prepared method of transportation, look for companies like United Technologies to see rising profits well into the future.

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T = Technicals on the Stock Chart are Strong

United Technologies stock has seen a consistent uptrend over the last several years. The stock is now consolidating at all-time high prices so it will more than likely continue higher. Analyzing the price trend and its strength can be done using key simple moving averages. What are the key moving averages? The 50-day (pink), 100-day (blue), and 200-day (yellow) simple moving averages. As seen in the daily price chart below, United Technologies is trading above its rising key averages which signal neutral to bullish price action in the near-term.

(Source: Thinkorswim)

Taking a look at the implied volatility (red) and implied volatility skew levels of United Technologies options may help determine if investors are bullish, neutral, or bearish.

	Implied Volatility (IV)	30-Day IV Percentile	90-Day IV Percentile
United Technologies Options	16.64%	0%	0%

What does this mean? This means that investors or traders are buying an insignificant amount of call and put options contracts, as compared to the last 30 and 90 trading days.

	Put IV Skew	Call IV Skew
May Options	Flat	Average
June Options	Flat	Average

As of today, there is an average demand from call buyers or sellers and low demand by put buyers or high demand by put sellers, all neutral to bullish over the next two months. To summarize, investors are buying an insignificant amount of call and put option contracts and are leaning neutral to bullish over the next two months.

On the next page, let’s take a look at the earnings and revenue growth rates and the conclusion.

E = Earnings Are Increasing Quarter-Over-Quarter

Rising stock prices are often strongly correlated with rising earnings and revenue growth rates. Also, the last four quarterly earnings announcement reactions help gauge investor sentiment on United Technologies’s stock. What do the last four quarterly earnings and revenue growth (Y-O-Y) figures for United Technologies look like and more importantly, how did the markets like these numbers?

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	2013 Q1	2012 Q4	2012 Q3	2012 Q2
Earnings Growth (Y-O-Y)	286.1%	53.44%	6.12%	1.38%
Revenue Growth (Y-O-Y)	15.97%	14.37%	5.67%	-4.58%
Earnings Reaction	-0.79%	0.68%	-0.97%	0.44%

United Technologies has seen increasing earnings and revenue figures over the last four quarters. From these figures, the markets have expected a little more from United Technologies’s recent earnings announcements.

P = Average Relative Performance Versus Peers and Sector

How has United Technologies stock done relative to its peers, Boeing (NYSE:BA), General Electric (NYSE:GE), Honeywell (NYSE:HON), and sector?

	United Technologies	Boeing	General Electric	Honeywell	Sector
Year-to-Date Return	14.01%	25%	7.62%	19.88%	12.39%

United Technologies has been an average performer, year-to-date.

Conclusion

United Technologies provides valuable aerospace technology and services to a multitude of companies participating in various industries worldwide. The stock has been a strong performer over the last several years and is now consolidating near all-time high prices. Earnings and revenue figures have been growing but investors have expected a little more from the company. Relative to its strong peers and sector, United Technologies has been an average year-to-date performer. Look for United Technologies to OUTPERFORM.

Does GlaxoSmithKline Stock Support Rising Prices?

With shares of GlaxoSmithKline (NYSE:GSK) trading around $51, is GSK an OUTPERFORM, WAIT AND SEE or STAY AWAY? Let's analyze the stock with the relevant sections of our CHEAT SHEET investing framework:

T = Trends for a Stock’s Movement

GlaxoSmithKline is global health care group engaged in the discovery, development, manufacturing, and marketing of pharmaceutical products. These products include vaccines, over-the-counter medicines, and health-related consumer products. GlaxoSmithKline's principal pharmaceutical products include medicines in these areas: respiratory, antivirals, central nervous system, cardiovascular and urogenital, metabolic, antibacterials, oncology and emesis, dermatology, rare diseases, immuno-inflammation, vaccines, and HIV.

Recently, GlaxoSmithKline settled a suit in the United States over the company's marketing practices for its diabetes drug Avandia. The drug has been linked to heart problems and has been banned in Europe and heavily restricted in the United States. The company is still involved in a bribery scandal related to the company's operations in China. However, GlaxoSmithKline delivered earnings and revenue figures on Wednesday that beat Wall Street's expectations.

T = Technicals on the Stock Chart are Strong

GlaxoSmithKline stock has been steadily rising over the last several years. The stock is now trading near price levels not seen since the mid-2000s. Analyzing the price trend and its strength can be done using key simple moving averages. What are the key moving averages? The 50-day (pink), 100-day (blue), and 200-day (yellow) simple moving averages. As seen in the daily price chart below, GlaxoSmithKline is trading slightly above its rising key averages which signal neutral to bullish price action in the near-term.

(Source: Thinkorswim)

Taking a look at the implied volatility (red) and implied volatility skew levels of GlaxoSmithKline options may help determine if investors are bullish, neutral, or bearish.

	Implied Volatility (IV)	30-Day IV Percentile	90-Day IV Percentile
GlaxoSmithKline Options	17.56%	16%	13%

What does this mean? This means that investors or traders are buying a small amount of call and put options contracts, as compared to the last 30 and 90 trading days.

	Put IV Skew	Call IV Skew
August Options	Flat	Average
September Options	Flat	Average

As of today, there is an average demand from call buyers or sellers and low demand by put buyers or high demand by put sellers, all neutral to bullish over the next two months. To summarize, investors are buying a small amount of call and put option contracts and are leaning neutral to bullish over the next two months.

On the next page, let’s take a look at the earnings and revenue growth rates and the conclusion.

E = Earnings Are Decreasing Quarter-Over-Quarter

Rising stock prices are often strongly correlated with rising earnings and revenue growth rates. Also, the last four quarterly earnings announcement reactions help gauge investor sentiment on GlaxoSmithKline’s stock. What do the last four quarterly earnings and revenue growth (Y-O-Y) figures for GlaxoSmithKline look like and more importantly, how did the markets like these numbers?

	2013 Q2	2013 Q1	2012 Q4	2012 Q3
Earnings Growth (Y-O-Y)	-66.67%	-28.21%	-26.92%	-15.12%
Revenue Growth (Y-O-Y)	-34.80%	-7.20%	-1.91%	-6.99%
Earnings Reaction	0.38%	0.01%	0.73%	-0.99%

GlaxoSmithKline has seen decreasing earnings and revenue figures over the last four quarters. From these numbers, the markets have been pleased with GlaxoSmithKline’s recent earnings announcements.

P = Excellent Relative Performance Versus Peers and Sector

How has GlaxoSmithKline stock done relative to its peers, Pfizer (NYSE:PFE), Merck (NYSE:MRK), Novartis (NYSE:NVS), and sector?

	GlaxoSmithKline	Pfizer	Merck	Novartis	Sector
Year-to-Date Return	19.09%	16.03%	17.05%	13.79%	14.78%

GlaxoSmithKline has been a relative performance leader, year-to-date.

Conclusion

GlaxoSmithKline is a health care group that engages in many aspects of pharmaceutical business around the world. The company has been linked to some positive and negative news in the last several weeks. The stock is now trading at prices not seen since the mid-2000s. Over the last four quarters, earnings and revenue figures have been decreasing, however, investors have been pleased with what they have heard during earnings announcements. Relative to its peers and sector, GlaxoSmithKline has been a year-to-date performance leader. WAIT AND SEE what GlaxoSmithKline does this coming quarter.

Clear Channel and Fleetwood Mac Signed Landmark Revenue-Sharing Agreement (OTCMKTS:CCMO, OTCMKTS:CLNO)

Clear Channel Media & Entertainment (CCMO)

Today, CCMO surged (+0.82%) up +0.05 at $6.15 with 8,240 shares in movement thus far (ref. google finance Delayed: 10:27AM EDT June 19, 2013).

Clear Channel Media & Entertainment and Fleetwood Mac previously reported a landmark agreement – the first direct performing rights partnership between a radio company and an artist – that will enable the group to receive revenue from airplay on Clear Channel's digital and broadcast radio platforms. The group's new EP, Extended Play, features the first recording of new Fleetwood Mac music since the release of "Say You Will" over a decade ago.

"Fleetwood Mac has consistently pushed the envelope – creating new sounds, making music that seems designed for radio and looking at the industry in new ways," said Irving Azoff of Azoff Music Management, a representative of the band. "It's fitting that a group that's played such an integral role in radio and music history would be the first band to take such a major step — helping the music industry create a sustainable digital marketplace so it can thrive for decades to come. We're delighted to join Clear Channel in creating a new model for the music industry, one that will be good for performing artists, good for music fans, and good for the people who have invested their talent, time and money."

Take a look at Clear Channel Media & Entertainment (CCMO) 5 day chart:

Cleantech Transit, Inc. (CLNO)

Cleantech Transit, Inc. (OTCMKTS:CLNO) (www.cleantechtransit.net) through its Discovery Carbon subsidiary, develops emissions offset strategies for companies, municipalities, and countries. CLNO currently (ref. google finance Delayed: 12:10PM EDT June 19, 2013) surged (+7.02%) up +0.0059 at $.0899. This morning (June 19, 2013), this company hit as low as $.073 and as high as $.09. The fact that their is under a million shares in play thus far only ignites the excitement that CLNO brings to the table.

Today (June 19) CLNO's daily range was at ($.09 – $.073) currently at $.0899 would be considered a (+8072.7%) gain above the 52 wk low of $.0011. Eventhough CLNO has  surged (+7.02%) up +0.0059 at $.0899 with 535,400 shares in play far (ref. google finance Delayed: 11:32AM EDT June 19, 2013), the stock is up +5893.33% since the concerning dates of December 20, 2013 – June 19, 2013. +5893.33% is the 6 month high and rightly so.

Earlier this month (June 3), CLNO acquired control of Discovery Carbon Environmental Securities Corporation ("Discovery"). The acquisition advances the strategy of developing significant market share in the alternative clean energy sector. Discovery's proprietary GreenTrees™ for renewable energy, and EvoCert™ environmental credits for offsetting business and individual carbon foot prints are some of the exciting products Discovery provides to clients throughout the world.

Breaking Shareholder News: (Jun 18, 2013)

Cleantech Transit Inc. will change its name to EQCO2, Inc. The name change is more reflective of the Company's proposed business operations.

This change is being implemented after the company's acquisition of Discovery Carbon which engages in the offsetting (equalizing/neutralizing) carbon dioxide (CO2) emissions through the development and use of renewable energy products and emission offset credits. As a result of the name change, the Company may be issued a new trading symbol.

Change in Authorized Shares of Stock will result in a one for five forward stock split.

The authorized capital structure is being changed. At present, the Company is authorized to issue 600,000,000 shares of common stock having a par value of $.001 per share and 10,000,000 shares of preferred stock with a par value of $.001 per share. The Company proposes to increase the number of authorized shares to 5,010,000,000 shares, comprised of 5,000,000,000 shares of common stock, par value $.001, with the number of preferred shares remaining at 10,000,000 shares, par value $.001. The Company is increasing its authorized capitalization in connection with its proposed forward stock split of one for five. The Company does not have enough shares to implement the proposed stock split without an increase in the number of authorized common shares.

Visit URL http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9359959, http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9359952

Previously (June 5) CLNO Filed 8K regarding the company entering into an Exchange Agreement and Change in Directors. Visit URL http://biz.yahoo.com/e/130605/clno8-k.html to view.

Keep in mind, (June18) CLNO closed at $.08 with 1,224,685 in play (ref. google finance June 18, 2013 – Close). (June17) CLNO closed at $.06 with 2,681,749 in play (ref. google finance June 17, 2013 – Close). (June14) CLNO closed at $.09 with 4,923,706 in play (ref. google finance June 14, 2013 – Close). (June 13), CLNO closed at $.09 with 2,457,486 in play (ref. google finance June 13, 2013 – Close). (June 12) CLNO closed at $.07 with 2,067,313 in play (ref. google finance June 12, 2013 – Close). (June 11) CLNO closed at $.04 with 1,978,366 in play (ref. google finance June 11, 2013 – Close). (June 10) CLNO closed at $.03 with 1,134,672 in play (ref. google finance June 10, 2013 – Close).

Now take a look at the Cleantech Transit, Inc. (CLNO ) 5 day chart:

8 Big Estate Battles of the Rich and Famous

Nothing sets friends and family at each others’ throats more than an old-fashioned fight over money. Make it a dispute over a will and the fun really begins.

The emotions that bubble up in estate disputes are understandably raw. Make it about the property of a famous person and it can get really crazy. A minor celebrity (see Gary Coleman) with pennies to his name can generate a court battle worthy of a billionaire (see Howard Hughes).

And some estate battles are so classically obvious—old rich man, vivacious model, jilted family—they end up as textbook cases, literally. Playboy Playmate Anna Nicole Smith’s battle to keep the fortune of her late husband, Texas oil tycoon J. Howard Marshall II, ended up gracing the pages of the widely used textbook “Wills, Trusts and Estates.”

And that wasn’t the end of Smith’s unlikely influence on law students. After she died in 2007, her poorly drafted will and the court dispute over her body served as teachable moments for law professors as well.

Here are 8 Big Estate Battles of the Rich and Famous:

8. Gary Coleman

Worth: Modest home (with mortgage) and royalties

Winners: Anna Gray

Losers: Shannon Price, ex-wife

Sometimes it doesn’t take a large estate to spur a battle. Such was the case of Gary Coleman, the diminutive actor best known for his star turn on the ‘70s sitcom “Diffr’nt Strokes.” After years of being in the news mostly for health and legal problems, Coleman died in 2010. He was just 42. Then the battle began.

According to an account on Forbes.com, Coleman had left three wills, the last of which was a handwritten codicil bequeathing everything to his wife, Shannon Price. “Everything” was a home that still carried a mortgage, occasional royalties from his acting career and his ashes. The problem was, Coleman and Price had divorced, even appearing on “Divorce Court.” Still, Price claimed they had a common-law marriage. A judge disagreed, saying the marriage had ended. One of the stranger estate battles in Hollywood history ended with Coleman’s former business partner, Gray, taking the spoils.

7. James Brown

Worth: $50 million

Winners: To Be Determined

Losers: To Be Determined

When the Godfather of Soul died of a heart attack at 73 in 2006, he left his estate to charities that seek to educate disadvantaged youths. The directive seemed pretty clear, but it didn’t sit well with his widow, Tomi Rae Hynie, or his adult children. According to Forbes.com, the widow may not have been technically married to Brown (she was married to another when they got hitched) and there were questions about whether he was really the father of at least one of his nine children.

In 2009, the South Carolina attorney general announced that a settlement had been reached: the widow and the children would split half the money with the rest going to charity. Alas, the deal did not pass court muster this February when a court ruled it violated Brown’s will. For now, the estate sits in limbo.

6. Thomas Kinkade

Worth: $66 million

Winners: Amy Pinto, girlfriend

Losers: Nanette Kinkade, estranged wife

Artist Thomas Kinkade built his fortune by making people smile and feel good when they gazed upon his soothing country scenes. The “Painter of Light” left a more complicated situation behind when he died in April 2012 at 54. Pinto, who became involved with Kinkade after his marriage broke up, claimed she had two notes written by Kinkade directing that she receive his mansion as well as $10 million designated for a museum of his artwork. Kinkade’s wife disputed the claim. Somehow, the women managed to avoid a long, drawn-out drama and reached a settlement before the end of 2012. The details are secret.

5. Jimi Hendrix

Worth: $80 million

Winners: Janie, Jimi Hendrix’s stepsister

Losers: Leon, Jimi’s brother, and his children

Jim Hendrix ruled the rock world when he died in 1970 at age 27, but multiple battles over his estate have left it in a haze to this day. His father, Al, who had served as Jimi’s manager, battled record companies and other music industry entities for the rights to his songs and merchandising. He won out and everything was settled until Al died in 2002. Then the rancor began. The estate by then was worth $80 million.

The bulk of it was left to Al’s adopted daughter Janie. Al’s other son by Jimi’s mother, Leon, and Leon’s children sued, saying Janie had influenced Al to leave them out of his last will. After a three-month trial, a judge ruled Janie had not unduly influenced Al and that Leon’s history of drug use was reason enough for Al not to have trusted him with the estate.

4. John Seward Johnson I

Worth: $400 million

Winners: Barbara Piasecka, third wife

Losers: Depends on how you look at it.

When one of the sons of Johnson & Johnson founder Robert Wood Johnson died in 1983, his children were more than a little miffed at the terms of his will. You see, J. Seward Johnson I left nearly all of his money to his third wife, a Polish farmer’s daughter who was 42 years younger and had once been his maid. Johnson’s six children contested the will, claiming their father was incompetent and pressured into making the bequest.

In the end, the children were awarded $6 million each. John Seward Johnson Jr. was granted an extra $7 million as head of the oceanographic institute founded by senior. The kids were already millionaires through trust funds, but Junior told The New York Times that the will was a family embarrassment. In the end, Barbara, who died last April at 76, kept most of the money and the kids were left with a $25 million legal bill.

3. J. Howard Marshall II

Worth: $1.6 billion

Winners: E. Pierce Marshall (so far)

Losers: Anna Nicole Smith, J. Howard Marshall III

J. Howard Marshall II wasn’t a household name in life (he made most of his fortune in oil and by investing in Koch Industries), but thanks to a wild, drawn-out (is there any other kind?) lawsuit over his will involving former Playboy Playmate Anna Nicole Smith (his wife and 62 years his junior) and his namesake son versus his stepson, he became well-known after his death in 1995.

The battle over the estate boiled down to this: Smith and the namesake son were left out of the will, while the stepson was left everything. After years of battles in the court, an aspect of the case reached the U.S. Supreme Court. Alas, Smith’s efforts were rebuffed. Smith and J. Howard Marshall III have since died, but the U.S. Circuit Court still has not made a final ruling in the case.

2. Howard Hughes

Worth: $2.5 billion

Winners: 22 cousins

Losers: Two ex-wives, a gas station owner, executives who worked for Hughes, among others

Howard Hughes was famous for many things. He was a pioneer in aviation. He made movies, perhaps most famously with Jane Russell. He piloted TWA. He had run-ins with U.S. senators. And at the end he was an eccentric recluse and the butt of late-night jokes on TV.

When he died in 1976 and no verified will was found, the headlines grew bigger. There was the handwritten document found on the desk of a Mormon Church official. That “will” left, among other bequests, $156 million to Melvin Dummars, a gas station owner whose account of giving Hughes a ride when he was stranded in the desert was used as the basis for the 1980 movie “Melvin and Howard.” It was another three years before the estate was settled by the courts, dividing the fortune among 22 cousins. In 1984, actress Terry Moore settled with the estate over her purported 1949 marriage to Hughes. She said the couple had never divorced. The sum she received was undisclosed.

1. Leona Helmsley

Worth: $4 billion ($12 million contested)

Winners: Two grandchildren, charities

Losers: Trouble, her pet Maltese

When she died in 2007, Leona Helmsley left most of her fortune to charity, but it was a relatively small bequest that had everyone talking. Trouble, Helmsely’s apparently aptly named Maltese, received $12 million. She specifically left two of her grandchildren out of her will saying they knew the reasons, while two others only received money from a trust only if they visited their grandfather's grave each calendar year.

The public outcry was enormous, even bringing death threats against poor Trouble, whose annual security bill was said to reach $100,000. In the end, Trouble’s inheritance was reduced to $2 million and a judge ruled the left-out grandkids would each receive $6 million.

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Check out these related stories on AdvisorOne:

Stifel Beats Estimates on Solid Private-Client Results

Stifel Financial (SF) said Thursday that it had non-GAAP net income of $44.4 million, or $0.60 per share, as of June 30 vs. $26.1 million, or $0.42 per share a year ago. This performance, along with sales of $485.3 million, topped analysts’ expectations.

Stifel said its GAAP net income for the most recent period was $29.4 million, or $0.40 per share, vs. $26.1 million, or $0.42 per share, a year ago.

“We are pleased to announce record revenues for the second quarter and for the first six months of 2013 in both the Global Wealth Management and the Institutional Group, especially against the challenging market conditions in the quarter ... The merger with KBW continues to exceed our expectations, and we are gaining market share in the financial institutions space,” said Chairman and CEO Ronald J. Kruszewski (left) in a press release.

“This quarter, we look forward to the contributions from the institutional fixed-income sales and trading professionals who joined us from Knight Capital Group,” he added.

Global Wealth Growth

The Global Wealth Management unit had pretax operating income of $78.9 million, up 29% from $61 million a year ago and a jump of nearly 14% from $69.5 million in the prior quarter.

Net revenues for the quarter were $282.7 million, an 11% year-over-year improvement and a roughly 6% increase from the first quarter of 2013.

“The increase in net revenues both from the second quarter of 2012 and the first quarter of 2013 is primarily attributable to (1) an increase in commission revenues; (2) increase in investment banking revenues; (3) growth in asset management and service fees; and (4) increased net interest revenues,” Stifel said in its second-quarter report.

This unit represents about 57% of total revenue for the company.

Private Client Group

The Private Client Group reported net revenues of $257.3 million, a 17% increase over the year-ago period and a 6% jump over the prior quarter. It accounts for 52% of total company revenue as of June 30.

In terms of brokerage revenue, the PCG unit had $161 million in Q2, a 12% year-over-year improvement and a 2% quarter-over-quarter increase. This represents 60% of the company’s total brokerage sales.

The number of PCG advisors grew by 6 in the most-recent period and stands at 2,069. That is up 41 from June 2012.

Stifel says its total client assets are $150.6 billion, a jump of 15% from last year and 2.4% from the prior quarter.

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Check out ThinkAdvisor’s 2013 Q2 Earnings Calendar for the Finance Sector.

Alcoa Running Hard To Go Nowhere

Another quarter is in the books at Alcoa (NYSE:AA), and although I think management continues to do a good job with its downstream operations and rationalizing its upstream cost structure, all of it matters little in the face of persistent price weakness in aluminum. As has been the case for a while now, Aloca looks undervalued on both an EV/EBITDA and NAV basis, but the relentless erosion in aluminum prices makes it difficult to have much faith in those metrics.

Better Than Expected Results For Q2
Alcoa delivered better results than the Street expected for the second quarter, as the company managed to eke out a bit of positive performance in the face of ongoing aluminum price erosion.

Revenue fell 2% for the quarter, with third-party alumina sales up 10%, third-party primary aluminum sales down 10%, rolled product sales down 2%, and engineered product sales up 3%. Gross margin improved more than two points from the year-ago period, but fell more than a point sequentially. Operating income was up 65% from last year, but down almost one-quarter from the first quarter, and EBITDA was likewise stronger on a year-over-year basis (up 19%) and weaker sequentially (down 11%).

SEE: A Clear Look At EBITDA

All things considered, the company's downstream businesses are doing pretty well. Even the upstream operations aren't terrible – although realized prices in the primary metals business fell by $0.07/lb sequentially, smelting costs fell $0.06/lb. With that, Alcoa shares have actually performed the year-to-date performance in alumina, but that's still pretty cold comfort for shareholders.

Do Ratings Cuts And Alcoa's Size Mean Ejection From The Dow Jones Is Coming?
At the end of May, Moody's downgraded Alcoa's unsecured debt to junk. Given the maturities and structure of Alcoa's debt, this move isn't going to have a dramatic near-term impact on the company. That said, it's only the second time that a Dow stock has been given such a rating. Furthermore, Alcoa is far and away the smallest company in the Dow Jones Industrial Average (though it's a price-weighted index and not cap-weighted). That leads me to wonder if another shuffling of the deck could be on the way, with Alcoa finding itself booted out.

SEE: 5 Earnings Season Tips

How Much Cutting And Restructuring Can Alcoa Do?
Alcoa management has not been afraid to look for ways to cut costs to get through this slump in the aluminum market. About 13% of the company's smelting capacity is idle, and another 11% or so is under review for idling (either temporary or permanent). It's a familiar problem for Alcoa – they are operating responsibly, as are large rivals like Rio Tinto (NYSE:RIO) and BHP Billiton (NYSE:BHP), but Chinese smelters get sweetheart financing from state-run banks that allows them to continuing operating at loss-making aluminum prices.

At some point, though, Alcoa reaches a point where further capacity cuts start to cut into the company's muscle and its long-term future. I don't think there's much argument that the company's downstream operations are more attractive than the upstream, but I don't know that they can be separated without sacrificing meaningful operational/integration synergies. As a result, I'm not sure Alcoa can really transition into a company more like Allegheny (NYSE:ATI) or Carpenter (NYSE:CRS) without paying a big long-term price.

The Bottom Line
Valuing Alcoa feels like chasing an anchor that's sinking. The stock continually looks cheap relative to twelve-month EBITDA targets and net asset value, but the metal price assumptions that underpin those estimates keep eroding. As a result, sticking with my 6.5x EBITDA estimate suggests a fair value around $9.50 and a NAV analysis suggests a fair value around $9, but both have to be taken with large grains of salt. It's also worth noting that if you fully load Alcoa's post-retirement/pension liabilities into the EBITDA analysis, the resulting fair value is only about $4.

If you have a firm conviction that aluminum prices are going to bottom out and rebound, these shares would be a good way to play that thesis. I don't have that conviction, though, and so while I applaud Alcoa management for doing what they can in difficult circumstances, I just don't see why I should own these shares when other commodity/resource companies are also undervalued and facing better pricing environments.

Bear of The Day: Sherwin Williams (SHW) - Bear of the Day

Sherwin Williams (SHW), Zacks Rank #5 (Strong Sell), is a manufacturer and distributor of paints and coating products. Given that conventional wisdom favors growth in the housing sector, it feels awkward painting a negative outlook for Sherwin Williams. However, the company is richly valued and seeing its earnings estimates cut. The combination could leave your portfolio colored red instead of black.

Valuation is stretched:

The trade is extremely optimistic toward Sherwin Williams based on the forward earnings outlook, and as a result the bar for exceeding earnings estimates may be high. The stock is priced at about 19.5 times forward 12 month earnings. This compares to a 10 year average of 14.8 and minimum and maximum values of 10.2 and 22.3 respectively. The stock is less expensive based on its PEG ratio (price to earnings ratio to earnings growth) of 1.33, which is near average. However, no one wants average in their portfolio. The recent rise in mortgage rates and slowdown in pending home sales suggest there is risk that the growth rate in earnings slows. Higher mortgage rates may not only reduce new home buying, but the drop in refinance activity may cut household spending power and the dollars available for remodel.

Earnings estimates are falling:

The Zacks Consensus EPS Estimate for the September 2013 quarter has fallen $0.20 over the past 30 days, while the December 2012 quarter estimate has declined $0.23 to $1.37. There have also been notable declines for the outlook for 2014 earnings where the Zacks Consensus Estimate has dropped $0.60 to $9.24.

No analysts have revised earnings estimates up for the coming quarters or 2014 for the past 30 days, while estimates have declined in the past 30 days for 2013 and 2014. There is strong agreement for a reduction in the earnings outlook.



The price and consensus chart shows the peak in e! arnings estimates and the recent decline. The stock prices has followed the direction in earnings revisions.

An Alternative:

Investors looking for exposure to the paint and coating market may want to examine Valspar (VAL), Zacks Rank #2 (Buy). Earnings estimates for Valspar have trended flat to higher over the past 30 days and the few analyst revisions that have occurred have been up and not down. The PEG ratio is about 1.05 and near the lower end of the 10 year range. Valspar has stronger upward momentum to earnings revisions and looks less expensive than Sherwin Williams.

Western Digital Takes over Velobit - Analyst Blog

Western Digital Corporation (WDC) continues with its merger and acquisition strategy with the addition of the privately held company,VeloBit,to its list of buyouts. The acquisition of the storage I/O (input/output)optimization software provider helped Western Digital's shares to move up 1.0% in late trading on Tuesday touching an all-time high.

Post acquisition,VeloBitwillbe integrated into "Hitachi Global Storage Technologies" (HGST), which is now part of Western Digital.

The combination of HGST SSDs and VeloBit software will enhance the overall value of HGST's datacenter storage solutions.VeloBit's SSD caching software will not only increase the speed of applications, but also increase server density by providing better input/output performance, thereby, improving the efficiency of both the processor and storage resources.

Data storage technology is changing rapidly, especially with the advent of flash technology. As data storage is becoming increasingly important for data centers and big conglomerates, new storage technologies to enhance the performance and meet new challenges are coming on the market.

WDC is coming up with cost effective products for high capacity data centers. Specifically, the high capacity storage devices would require this technology to perform even better, and would be able to store and retrievea reasonable amount of data for the companies at a lower cost. Therefore,the acquisition will better position WDC in the data center market, which is increasingly using SSD technology.

Western Digital is facing tough competition from its rivals, like Seagate Technology plc (STX). However, we believe that with the introduction of VeloBit's SSD caching software and the newly-introduced drives, Western Digital will be able to grow its market share in the enterprise space.

Currently, Western Digital has a Zacks Rank #3 (Hold). Investors could consider other technology stocks such as NetApp Inc. (NTAP) and EMC Corp. (EMC). Both the compan! ies carry a Zacks Rank #2 (Buy) and are worth buying.

Real Estate ETFs: 3 Things To Consider

For retail investors, the exchange traded fund boom has opened up a plethora of opportunities for portfolio construction. From simple indexing approaches to more complex strategies, ETFs are quickly becoming the go-to investment vehicle. Nowhere is that more prevalent than the world of real estate. Overall, the continued evolution of the ETF industry has allowed investors to gain cheap and easy access to the commercial and residential real estate markets within one single ticker .

What's the Appeal?For many investors, real estate has become an integral part of a well-diversified portfolio and offers several distinct advantages.

First, real estate can provide stable and high income. Created in the 1960s as a way to allow regular retail investors to participate in the commercial real estate market, real estate investment trusts (REITs) are traded on the major exchanges like stocks and invest in real estate directly – either through physical properties or through mortgage investment. In exchange for offering investors high-dividend distributions, REITs receive special tax considerations .

Secondly, real estate offers the potential to hedge against rising inflation as rents are generally designed to keep pace with increasing prices. Not to mention that owning physical property and goods can be quite beneficial in periods of high sustained inflation. Finally, as a non-correlated asset class, real estate adds a level of diversification to a portfolio and can actually "smooth-out" returns over long stretches of time.

All of these benefits on their own are worth adding real estate and REITs to a portfolio; however, combining them with the low cost, intraday tradability, diversification advantages of ETFs, and investors have perhaps the perfect way to gain exposure to the asset class –which bets on some of the largest REITs in the U.S.–currently only yields 2.15%, while the mortgage REIT tracking iShares FTSE NAREIT Mortgage Capped Index yields a staggering 12.68%.! Some, like SPDR S&P Homebuilders , which is more of a play on housing construction rather than the ownership of physical buildings, yields barely anything at all. For those looking for dividends, the following are good places to start:

ETFNameAnnual Dividend Yield

REM	iShares FTSE NAREIT Mortgage Capped Index	12.68%
MORT	Market Vectors Mortgage REIT ETF	8.23%
ROOF	IQ U.S. Real Estate Small Cap ETF	4.68%
VNQ	Vanguard REIT Index ETF	3.36%
RWR	SPDR Dow Jones REIT	2.83%
REZ	iShares FTSE NAREIT Residential	2.97%
RTL	iShares FTSE NAREIT Retail	2.92%

Going Global

Currently, the United States only represents about 30% of the global real estate market. Given that small amount, real estate investors may want to break out their passports. Since the mid-'90s, nearly 30 countries–from Singapore to France–have adopted the REIT tax structure. This has opened up these various markets to global investors and has helped the sector's market capitalization has expand several fold. According to indexer FTSE, there are now over 280 international REITs creating an $825 billion global marketplace.

! Aside fro! m tapping these various markets for diversification benefits, investors may also want to expand their REIT focus to include international firms for another reason – a weakening U.S. dollar. According to industry group NAREIT, from 1990 to 2009–when the U.S. dollar was falling against the Japanese yen–average total returns for investors were 12.1% per year for investments in Asian REITs. However, 10.4% of that return was from currency gains and just 1.7% was from the REITs themselves. The industry group found similar results for Europe .

Those added currency gains have helped funds like the SPDR Dow Jones International Real Estate and the iShares FTSE EPRA/NAREIT Developed REIT ex-US provide great returns as well as bigger yields than their domestic counterparts. Currently, both RWX and IFGL yield 6.2% and 5.51%, respectively.

The Bottom Line

For investors, the appeal of adding real estate to a portfolio is simple: the asset class can provide stable, high and inflation-fighting income, all while providing diversification and correlation benefits. All of these advantages are only enhanced when placed in the exchange traded funds. While the sector has experienced a few hiccups in the recent past, real estate deserves a place in modern portfolios.



Disclosure: No positions at time of writing.

8 ways to avoid losing money in stock market

Many believe that the stock market is like a money making machine which can turn them into millionaires over a period of time. Well, it is true that a lot of investors have made profits through stock trading. But it was possible because they've made some really smart choices by adopting carefully thought of strategies and good market knowledge.

Such investors are also much disciplined in their approach which is why they've reaped the benefits of stock trading.

While you're out there, thinking of a million ways to grow your money, we have charted out a few ways in which you can avoid losing out on it.

Identify the market phase

It is important to know what phase the market is in. For example, figure out if whether it is a trading or a trending phase. Accordingly you can buy/sell breakouts. One can buy weakness and sell strength if it's a trading phase.

Inability to understand the market sentiment can lead to using the wrong indicators in the wrong market conditions.

Observe and trade

If you're not as experienced as other traders, it is advisable to observe market patterns during the first half of the trading day. It is driven by emotion, affected by overnight movements and effects of the previous day.

You can take your trading decisions in the second half after observing the trend in the first half as the real trends emerge during later part of the day.

Avoid hurrying up to book profits

It may be tempting to book profits early sometimes. However, avoid doing this as long as the market looks right. By doing this, you could be letting go of substantial trends even when you've got a good entry into the market.

If in case you want to secure your profits, you could do it in stages, thereby keeping some scope to take advantage of the rest of the move. The ideal mix should consist of small profits, small losses and big profits.

Never buy a stock based on its past performance

Stock markets moves in phases. If it goes up during one phase, it comes down during another. It actually depends on the performance of the economy. So, if the economy of a country is doing well stock markets go up and vice versa.

A stock that gave certain returns the previous year, may not give similar returns in the current year. The returns will depend not only on the company's movement, but also on market conditions and state of the economy. Although is always good to know the past performance of a company's stock performance, it is risky to depend completely on it.

Don't be swayed by unfavourable events

An unfavourable event may not necessarily result in a negative impact on the stock market as well. It actually depends on the nature of the event. You need to analyze the possible impact it could have on the economy overall, and then come to a logical conclusion on the impact it can have on the stock market.

Take the Gujarat earthquake for instance. Everybody had speculated that the earthquake would devastate the country's economy and make the stock market stumble because Gujarat has the largest number of investors.

Interestingly, the market reacted in a different way by recovering all the losses later on. In this case, the event boosted the economy as reconstruction had to be taken up in a big way, giving a boost to cement and construction industry.

Treat every trade as just another trade

Keep in mind that every trade is just another trade and only normal profits should be expected every time. Supernormal profits do occur, perhaps rarely, but should not be expected. Remember, you should increase your risk only when your equity grows enough to service that risk.

Majority doesn't always win

Just how we consult a million people to take the right decision in our personal life, traders should avoid talking to a lot of people during trading hours, to avoid confusion and chaos.

However, it is a good idea to talk to experienced traders after market hours to gain perspective on their views on the market. Say, if the market acts too volatile, it can actually be beneficial if you just back off for a while, even if the majority doesn't agree.

Diversify, however don't overdo it

Avoid putting all your money in a single stock because if it performs you win, if not, your investment is gone. Diversification helps you under such circumstances where even if 1 or 2 sectors underperform, you could be gaining from the other sectors.

Diversification of investment is a must to mitigate risk. However, do not over-diversify as having too many stocks in a portfolio may not create a significant value for you. There are chances of depriving yourself of the gains from profitable investments.

Top 10 Heal Care Companies To Own In Right Now

LONDON -- After a record-breaking five days last week that saw the�FTSE 100�soar to new five-and-a-half-year highs, the index of top U.K. companies has slipped back 21 points this morning to 6,604 at the time of writing. Today's dip was driven mainly by the index's big miners, with falls across the sector after weaker Chinese production figures put renewed pressure on metals and minerals prices.

But there are still companies doing well today. Here are three from the various indices that are beating the FTSE today:

Quindell
Quindell Portfolio�shares are recovering today, up 27% to 7.6 pence, after mysteriously crashing last week in the days following the software firm's release of expectation-busting results -- between results day on Tuesday and the end of Friday, the price had plunged by 55% to fall as low as 6 pence.

Top 10 Heal Care Companies To Own In Right Now: Imagination Technologies Group(IMG.L)

Imagination Technologies Group plc engages in the design, development, and marketing of multimedia technology and related products. It involved in the development of embedded graphics, video, display, and multi-threaded processor and multi standard broadcast receiver and connectivity technologies, including semiconductor system-on-chip intellectual property (SoC IP) products. The company licenses its SoC IP products, such as POWERVR visual intellectual property (IP), ENSIGMA communications IP, and META multi-threaded processor IP to a range of semiconductor and consumer electronics companies worldwide for use in the mobile phone multimedia, handheld multimedia, home consumer, mobile computing, and in-car electronic markets. It also develops, manufactures, and markets consumer products, such as digital and connected radios. The company is headquartered in Kings Langley, the United Kingdom.

Top 10 Heal Care Companies To Own In Right Now: Radian Group Inc.(RDN)

Radian Group Inc., through its subsidiaries, operates as a credit enhancement company in the United States. The company offers credit-related insurance coverage, primarily through private mortgage insurance, and risk management services to mortgage lending institutions. Its private mortgage insurance protects the holders of the company?s insurance from default-related losses on residential mortgage loans made generally to home buyers, as well as facilitates the sale of these mortgage loans in the secondary mortgage market. The company primarily serves mortgage originators, such as mortgage bankers, mortgage brokers, commercial banks, savings institutions, credit unions, and community banks. Radian Group Inc. was founded in 1977 and is headquartered in Philadelphia, Pennsylvania.

Hot Blue Chip Companies To Own In Right Now: Tso3 Inc Com Npv(TOS.TO)

TSO3 Inc. engages in the research, development, commercialization, and licensing of sterilization processes and accessories for heat-sensitive medical devices. Its sterilization products include 3M OPTREOZ 125-Z Sterilizer, which is an ozone and hydrogen peroxide sterilizer system that offers 3 sterilizing cycles of 46, 56, and 100 minutes each and is intended for the reprocessing of general instrumentation, rigid channel instruments, single/multi-channel rigid endoscopes, and short and long single/multi-channel flexible endoscopes; and 25L Ozone Sterilizer, an ozone-based sterilization system that runs a 4.5-hour sterilizing cycle and is intended for the reprocessing of general stainless steel instruments and rigid endoscopes. The company?s 3M OPTREOZ 125-Z Sterilizer consists of a 125 liter stainless steel chamber, an ozone generator, a humidifier, a vacuum pump, and a catalytic converter for residual ozone. Its sterilization systems are used in central sterilization de partments and operating rooms within acute care facilities in Canada and internationally. The company also provides 3M OPTREOZ 125-280 Solution that is used to supply the required dosage of hydrogen peroxide per cycle; validation indicators, including chemical and biological indicators that are used to verify the parameters of the cycle in order to guarantee the success of the process; and sterilization pouches. In addition, it offers product development services to medical device manufacturers that include hydrogen peroxide and ozone sterilization validation, compatibility testing, medical devices cleaning method development, and medical packaging compatibility verification. TSO3 Inc. was founded in 1998 and is headquartered in Quebec, Canada.

Top 10 Heal Care Companies To Own In Right Now: Comfortdelgro Corporation Ltd (C52.SI)

ComfortDelGro Corporation Limited, an investment holding company, operates as a land transport company. It provides public bus and charter bus services; rail services; motor vehicle evaluation and other related services; public taxi services through the rental of taxis to hirers; car rental, care, and leasing services; advertising services; taxi booking management services; vehicle inspection and other related services; vehicle testing and consultancy services; professional inspection and automotive engineering services; inter-city bus services; taxi insurance; coach services; private hire services; crash repair services; and bus station services. The company also operates driving schools; and workshops for repairing, servicing, and the general maintenance of motor vehicles. In addition, it rents buses to hirers and provides related services; operates as a dealer in diesel for motor vehicles; distributes motor vehicles; trades automotive parts; constructs specialized vehic les and assembles bus bodies; and provides and manages taxi booking card facilities. It operates in Singapore, Ireland, the United Kingdom, Australia, China, Vietnam, and Malaysia. As of February 13, 2012, the company�s fleet consisted of 46,329 buses, taxis, and rental vehicles. ComfortDelGro Corporation Limited is headquartered in Singapore.

Top 10 Heal Care Companies To Own In Right Now: Hermes Financial Inc(HFI.V)

Hermes Financial Inc. engages in the exploration, development, and production of oil and gas properties in Canada. It holds interests in various oil and gas wells located in the Valhalla, Bellshill Lake, and Sullivan Lake areas of Alberta, Canada. The company was incorporated in 2006 and is based in Canmore, Canada.

Top 10 Heal Care Companies To Own In Right Now: Hankore Environment Tec Grpltd(B22.SI)

HanKore Environment Tech Group Limited, an investment holding company, engages in the provision of environmentally friendly water and wastewater treatment solutions to municipal, provincial governments, commercial, and industrial customers primarily in the People?s Republic of China. It is involved in the development, investment, financing, and construction of projects related to municipal utilities, water supply, waste water treatment, recycling of treated water, and sludge treatment. The company was formerly known as Bio-Treat Technology Limited and changed its name to HanKore Environment Tech Group Limited in May 2011. HanKore Environment Tech Group Limited is headquartered in Beijing, the People?s Republic of China.

Top 10 Heal Care Companies To Own In Right Now: Schweitzer-Mauduit International Inc.(SWM)

Schweitzer-Mauduit International, Inc. manufactures and sells paper and reconstituted tobacco products to the tobacco industry, as well as specialized paper products for use in various applications. It operates in two segments, Paper and Reconstituted Tobacco. The Paper segment primarily produces cigarette papers, such as lower ignition propensity papers, plug wrap papers, and base tipping papers to cigarette manufacturers that use to wrap various parts of a cigarette. It also offers commercial and industrial products, including lightweight printing and writing papers, battery separator papers, drinking straw wraps, filter papers, and other specialized papers to converters and other end-users or brokers. The Reconstituted Tobacco segment produces and sells reconstituted tobacco leaf, and wrapper and binder products to cigarette and cigar manufacturers. The company sells its products directly to customers in approximately 90 countries. Schweitzer-Mauduit International, Inc. was founded in 1995 and is headquartered in Alpharetta, Georgia.

Top 10 Heal Care Companies To Own In Right Now: Panera Bread Company(PNRA)

Panera Bread Company, together with its subsidiaries, owns, operates, and franchises retail bakery-cafes in the United States and Canada. Its bakery-cafes offer fresh baked goods, sandwiches, soups, salads, custom roasted coffees, and other complementary products, as well as provide catering services. The company also manufactures and supplies dough and other products to company-owned and franchise-operated bakery-cafes. As of March 29, 2011, it owned and franchised 1,467 bakery-cafes under the Panera Bread, Saint Louis Bread Co., and Paradise Bakery & Cafe names. The company was founded in 1981 and is based in St. Louis, Missouri.

Advisors' Opinion:

• [By Roberto Pedone]

  One casual dining player that insiders are active in here is Panera Bread (PNRA), which is a national bakery-cafe concept with 1,652 company-owned and franchise-operated bakery-cafe locations in 44 states, the District of Columbia and Ontario, Canada. Insiders are buying this stock into modest strength, since shares are up 5.2% so far in 2013.

  Panera Bread has a market cap of $4.8 billion and an enterprise value of $4.5 billion. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 26.28 and a forward price-to-earnings of 21.32. Its estimated growth rate for this year is 15.8%, and for next year it's pegged at 15.1%. This is a cash-rich company, since the total cash position on its balance sheet is $341.06 million and its total debt is zero.

  The CFO just bought 1,500 shares, or about $252,000 worth of stock, at $168.58 per share.

  From a technical perspective, PNRA is currently trending below both its 50-day and 200-day moving averages, which is bearish. This stock recently gapped down big from $187.50 to its low of $165.55 a share with heavy downside volume. That move has now pushed shares of PNRA into oversold territory, since its current relative strength index reading is 25.59. Oversold can always get more oversold, but it's also an area where a stock can experience a powerful rebound higher from.

  If you're bullish on PNRA, then look for long-biased trades as long as this stock is trending above some key near-term support at $165.55, and then once it breaks out above some near-term overhead resistance levels at its 200-day of $171.33 a share to more resistance at $172.50 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 439,019 shares. If that breakout triggers soon, then PNRA will set up to re-fill some of its previous gap down zone that started at $187.50 a share. Some possible upside targets if PNRA gets into that gap with volume are $175 to $180 a share.

• [By Fabian]  

  Most of you have probably eaten at one of these franchise bakery-cafes. If not I highly recommend it, as for the company itself they are exceptional. Profit soared 50% in the first quarter, operating margins rose several percentage points, and Panera is sitting on $300+ million of cash. Right now it’s at a 30% discount to its peer averages and the stock is very cheap when valued against future earnings. Strong buy expect it to rise to $105.

Top 10 Heal Care Companies To Own In Right Now: Chiquita Brands International Inc. (CQB)

Chiquita Brands International, Inc., together with its subsidiaries, engages in the distribution and marketing of bananas and fresh produce under the Chiquita and other brand names worldwide. The company operates in three segments: Bananas, Salads and Healthy Snacks, and Other Produce. The Banana segment sources, transports, markets, and distributes bananas to retailers and wholesalers, and chain stores. It also engages in the cultivation and production of bananas. The Salads and Healthy Snacks segment offers value-added salads under the Fresh Express and other labels; and fresh vegetable and fruit ingredients used in foodservice, healthy snacks, and processed fruit ingredient products. This segment also provides fresh-cut products, such as lettuce, tomatoes, spinach, cabbage, and onions to foodservice distributors who resell these products to foodservice operators. It distributes Fresh Express branded products to food retailers, foodservice distributors, and quick-service restaurants; and fresh produce foodservice offerings primarily to third-party distributors for resale principally to quick-service restaurants in the United States. The Other Produce segment engages in sourcing, marketing, and distributing fresh fruits and vegetables other than bananas in Europe and North America. It offers grapes, pineapples, melons, kiwis, tomatoes, and avocados. The company was founded in 1899 and is headquartered in Cincinnati, Ohio.

Top 10 Heal Care Companies To Own In Right Now: Pitney Bowes Inc(PBI)

Pitney Bowes Inc. provides mail processing equipment and integrated mail solutions worldwide. It offers a suite of equipment, supplies, software, services, and solutions for managing and integrating physical and digital communication channels. The company?s Small & Medium Business Solutions group engages in the sale, rental, and financing of mail finishing, mail creation, and shipping equipment and software; provision of supply, support, and other professional services; and provision of payment solutions. Its Enterprise Business Solutions group sells, supports, and offers other professional services for high-speed production mail systems, and sorting and production print equipment; and sells and provides support services for non-equipment-based mailing, customer relationship and communication, and location intelligence software. This group also offers facilities management services; secure mail services; reprographic document management services; and litigation support and eDiscovery services, as well as provides presort mail services and cross-border mail services; and direct marketing services. Pitney Bowes Inc. markets its products and services through its sales force, direct mailings, outbound telemarketing, and independent distributors and dealers to various business, governmental, institutional, and other organizations. The company, formerly known as Pitney Bowes Postage Meter Company, was founded in 1920 and headquartered in Stamford, Connecticut.

Advisors' Opinion:

• [By Jim Lowell]

  Pitney Bowes (PBI) provides mail processing equipment and integrated mail solutions in the United States and internationally. The company is a member of the dividend aristocrats index and has raised distributions for 29 years in a row. Yield: 5.90%.

Is Investing in Oracle Good or Bad News?

With shares of Oracle Corporation (NASDAQ:ORCL) trading at around $34.16, is ORCL an OUTPERFORM, WAIT AND SEE or STAY AWAY? Let's analyze the stock with the relevant sections of our CHEAT SHEET investing framework:

C = Catalyst for the Stock's Movement

We'll begin with the most important quote of all, which was written on Glassdoor.com by an Oracle employee:

"Company is global and is focusing on hiring outside the US. Even though the margin is very high, this company is bent on increasing its margin every quarter, even at the expense of employees and customers."

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This might be bad news for employees, but it's good news for investors.

The next quote relates to Oracle Cloud, which has 25 million users per day. Oracle recently announced the latest release of Oracle Service Cloud, which will offer robust support for mobile. Stephanie Arnette, Global Lead for Oracle Customer Experience, Accenture, stated:

“Oracle Service Cloud is a core component of our Application Services for Oracle Customer Experience Suite, which help clients leverage investments in their CRM systems with lower costs and increased flexibility. Our expertise in Software as a Service implementations supported with cloud factories, tools, and methods, combined with a longstanding alliance with Oracle, have allowed us to build our Oracle Service Cloud implementation capabilities that provide our clients with a strong framework for success. We’re excited to see continued investments from Oracle with the May 2013 release, including robust mobile capabilities that can help our clients stay competitive.”

David Vap, Group Vice President Product Development, Oracle, said:

“The new release of Oracle Service Cloud with Oracle RightNow Mobile Agent App specifically addresses and solves important pain points for the mobile employee. Organizations will discover increased efficiency through untethered access to real-time, up-to-date contact records and service history information, ensuring interactions with customers are timely, relevant, and engaging. This helps reduce time to resolution, in turn driving customer satisfaction and building customer loyalty through strengthened relationships.”

In regards to Oracle and Dell's recently expanded strategic alliance, Marius Haas, president of enterprise solutions for Dell, stated:

"Dell is growing fast in the datacenter and gaining market share across the world in our three core businesses. In part, this success is due to the fact we are focused on building and optimizing Dell infrastructure to help customers run their core mission-critical workloads. Today's agreement with Oracle greatly expands this commitment. By combining Oracle's strong position in the database and business applications markets with Dell's leadership in industry-standard servers, data center storage, and networking, we're combining the best of both worlds to deliver innovative solutions to customers that deliver superior performance, lower costs, and increased value."

Oracle President Mark Hurd, stated:

"This partnership with Dell is an extension of Oracle's engineered systems strategy where we simplify IT and reduce integration costs by delivering hardware and software together. We believe that by working together, Dell will gain significant market share by delivering to its customers an integrated, optimized solution designed to deploy business critical applications. This is just the beginning of a lot of great things to come."

The chart below compares basic fundamentals for Oracle, International Business Machines (NYSE:IBM), and Microsoft Corporation (NASDAQ:MSFT).

	ORCL	IBM	MSFT
Trailing P/E	15.89	14.22	17.96
Forward P/E	11.69	11.24	11.38
Profit Margin	28.46%	16.05%	21.58%
ROE	24.29%	82.86%	22.58%
Operating Cash Flow	13.72B	19.32B	30.61B
Dividend Yield	0.70%	1.80%	2.60%
Short Position	1.10%	1.60%	1.20%

Let's take a look at some more important numbers prior to forming an opinion on this stock.

T = Technicals Are Strong

Oracle has been a steady performer for many years. Over the past year, it has outperformed IBM and Microsoft. However, Microsoft has been the big winner in this group year-to-date. It should also be noted that Microsoft offers the highest yield at 2.60 percent whereas IBM yields 1.80 percent, and Oracle yields 0.70 percent.

	1 Month	Year-To-Date	1 Year	3 Year
ORCL	2.19%	2.37%	32.46%	53.13%
IBM	1.20%	8.50%	10.87%	69.52%
MSFT	5.15%	32.94%	26.66%	41.15%

At $34.16, Oracle is trading above its averages.

50-Day SMA	33.52
200-Day SMA	33.72

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E = Equity to Debt Ratio Is Normal

The debt-to-equity ratio for Oracle is close to the industry average of 0.30. Debt management isn’t a concern.

	Debt-To-Equity	Cash	Long-Term Debt
ORCL	0.45	33.41B	19.75B
IBM	1.74	12.06B	33.40B
MSFT	0.19	73.79B	14.76B

E = Earnings Have Been Steady

Earnings and revenue have consistently improved on an annual basis. Notice that Oracle turned a profit in 2008 and 2009. That was no easy feat.

Fiscal Year	2008	2009	2010	2011	2012
Revenue ($) in millions	22,430	23,252	26,820	35,622	37,121
Diluted EPS ($)	1.06	1.09	1.21	1.67	1.96

Looking at the last quarter on a year-over-year basis, revenue declined and earnings improved. The last quarter wasn’t impressive on a sequential basis. That said, Oracle’s revenue and earnings both tend to fluctuate in a somewhat predictable range. This isn’t a growth play; it’s a slow and steady play. As long as the profits continue to roll in, all is well.

Quarter	Feb. 29, 2012	May. 31, 2012	Aug. 31, 2012	Nov. 30, 2012	Feb. 28, 2013
Revenue ($) in millions	9,039	10,916	8,181	9,094	8,958
Diluted EPS ($)	0.49	0.69	0.41	0.53	0.52

Now let's take a look at the next page for the Conclusion. Is this stock an OUTPERFORM, a WAIT AND SEE, or a STAY AWAY?

Conclusion

Oracle has steadily increased revenue and earnings on an annual basis. The stock is trading at 16 times earnings, whereas the industry average is 26 times earnings. The stock is more resilient than most throughout the broader market, margins are high, there is a 0.70 yield, operating cash flow is strong at $13.72 billion, 80 percent of employees approve of CEO Larry Ellison, and analysts love the stock: 27 Buy, 15 Hold, 1 Sell.

IRS Victims Testify as New Agency Scandal Emerges

WASHINGTON (AP) -- The leaders of six conservative groups who say they were targeted by the Internal Revenue Service told lawmakers Tuesday they have been mistreated for years by IRS agents who asked intrusive questions and delayed their applications for tax-exempt status.

The leader of a small South Carolina tea party group said her organization first applied for tax-exempt status in 2010 -- and is still waiting for the application to be processed.

"Nearly three years in waiting for an answer is totally unacceptable," Dianne Belsom, president of the Laurens County Tea Party, said in prepared remarks. "The IRS needs to be fully investigated and held accountable for its incompetence harassment and targeting of conservative groups."

Belsom said her group in rural South Carolina has about 60 members and "seeks to educate ourselves and fellow citizens on various issues pertinent to living in a free country." The group also holds candidate forums in election years, she said.

"I'd like to note that our group is a small-time operation with very little money and this represents a complete waste of time by the IRS in terms of any money they would collect if we were not tax-exempt," Belsom said.

Another group, the National Organization for Marriage, said the IRS publicly disclosed confidential information about donors.

The House Ways and Means Committee called the groups to explain how these groups were treated by the IRS.

For more than 18 months during the 2010 and 2012 election campaigns, IRS agents in a Cincinnati office singled out tea party and other conservative groups for additional scrutiny when they sought tax-exempt status, according to a report by J. Russell George, the Treasury Department inspector general for tax administration.

The report said tea party groups were asked inappropriate questions about their donors, their political affiliations and their positions on political issues. The additional scrutiny delayed applications for an average of nearly two years, making it difficult for many of the groups to raise money.

George was scheduled to release another report Tuesday, one that said the IRS spent $50 million to hold at least 220 conferences for employees between 2010 and 2012.

The conference spending included $4 million for an August 2010 gathering in Anaheim, Calif., for which the agency did not negotiate lower room rates, even though that is standard government practice, according to a statement by the House Oversight and Government Reform Committee, which requested the report.

Instead, some of the 2,600 attendees received benefits, including baseball tickets and stays in presidential suites that normally cost $1,500 to $3,500 a night. In addition, 15 outside speakers were paid a total of $135,000 in fees, with one paid $17,000 to talk about "leadership through art," the committee said.

"I am absolutely appalled at the apparent waste of taxpayer dollars on frivolous conferences," said Rep. Harold Rogers, R-Ky., chairman of the House Appropriations Committee. "It seems we have a new misstep every day at the IRS."

Acting IRS Commissioner Danny Werfel has called the conferences "an unfortunate vestige from a prior era."

Werfel took over the agency about two weeks ago, after President Barack Obama forced the previous acting commissioner to resign.

White House spokesman Jay Carney said Monday the president had not seen the forthcoming report. But, Carney said, Obama believed the IRS conduct was inappropriate.

When Obama appointed Werfel as acting head of the IRS, he ordered him to conduct a 30-day review of the agency's operations.

"We must have the trust of the American taxpayer. Unfortunately, that trust has been broken," Werfel told a House Appropriations subcommittee Monday. "The agency stands ready to confront the problems that occurred, hold accountable those who acted inappropriately, be open about what happened and permanently fix these problems so that such missteps do not occur again."

Dow May Open Higher as Costco Beats the Street

LONDON -- Stock index futures at 7 a.m. EDT indicate that the Dow Jones Industrial Average (DJINDICES: ^DJI  ) may open up by 0.33% this morning, while the S&P 500 (SNPINDEX: ^GSPC  ) may open 0.38% higher. CNN's Fear & Greed Index has fallen from yesterday's close of 77 to 70, signifying "greed."

European markets failed to react to the overnight slump in Asia, where Japan's Nikkei 225 index closed down by 5.2% earlier this morning. At 7 a.m. EDT, all the major European stock markets were up on the day, possibly helped by the latest eurozone economic sentiment index survey, which rose to 89.4 in May from 88.6 in April.

U.S. markets may be strongly influenced by today's economic reports. At 8:30 a.m. EDT, the latest weekly jobless-claims figures are due: Consensus forecasts suggest that 341,000 new claims were made last week, up marginally from 340,000 the previous week. Also due at 8:30 a.m. EDT, revised first-quarter GDP figures are expected to show no change to the previously reported rise of 2.5%. Finally, at 10 a.m. EDT, April's pending-home-sales index will provide an update on activity levels in the housing market.

In corporate news, Costco Wholesale (NASDAQ: COST  ) beat analysts' estimates this morning after reporting third-quarter profit of $1.04 per share, a 19% increase on the same period last year and ahead of analysts' average forecasts of $1.02 per share. Costco reported a 5% increase in revenue from stores open at least a year, and total revenue rose by 8% to $24.08 billion, almost equaling analysts' forecasts of $24.09 billion. Big Lots reported first-quarter earnings of $0.56 per share, down from $0.63 per share for the same period last year. Other companies due to report earnings today include Krispy Kreme Doughnuts and Guess.

Alcoa stock is also likely to be actively traded today after Moody's downgraded the aluminum producer's debt to junk status. This is likely to raise the cost of borrowing for Alcoa at the same time the firm is battling low metals prices. Meanwhile, shares in Nevada-based utility firm NV Energy are likely to surge after MidAmerican Energy Holdings, which is owned by Berkshire Hathaway, announced that it would buy all of NV Energy's outstanding shares for $23.75 per share in cash.

Finally, let's not forget that the Dow's daily movements can add up to serious long-term gains. Indeed, Warren Buffett recently wrote, "The Dow advanced from 66 to 11,497 in the 20th Century, a staggering 17,320% increase that materialized despite four costly wars, a Great Depression and many recessions." If you, like Buffett, are convinced of the long-term power of the Dow, you should read "5 Stocks To Retire On." Your long-term wealth could be transformed, even in this uncertain economy. Simply click here now to download this free, no-obligation report.

Best Safest Stocks To Invest In 2014

In the following video, Motley Fool financials analyst David Hanson responds to a Fool reader on Facebook, who writes, "Citigroup (NYSE: C  ) is much better than Bank of America (NYSE: BAC  ) �-- better PEG/PE." David tells investors why looking at the price to earnings ratio may not be the best way to evaluate banks because bank earnings are often very lumpy. Instead, he gives us a better way to measure banking stocks that will show which of these two banking giants is truly the better buy.

Bank of America's stock doubled in 2012. Is there more yet to come? With significant challenges still ahead, it's critical to have a solid understanding of this megabank before adding it to your portfolio. In The Motley Fool's premium research report on B of A, analysts Anand Chokkavelu, CFA, and Matt Koppenheffer, Financials bureau chief, lift the veil on the bank's operations, including detailing three reasons to buy and three reasons to sell. Click here now to claim your copy.

Best Safest Stocks To Invest In 2014: Seacoast Banking Corporation of Florida(SBCF)

Seacoast Banking Corporation of Florida operates as the holding company for Seacoast National Bank that provides various financial products and services in the United States. It offers an array of deposit accounts and retail banking services; engages in consumer and commercial lending activities; and provides various trust and asset management services, as well as securities and annuity products to its customers. The company also offers marine loans. In addition, it provides Internet banking, and brokerage and annuity services. As of June 17, 2011, the company had 39 offices in South and Central Florida. Seacoast Banking Corporation of Florida was founded in 1926 and is based in Stuart, Florida.

Best Safest Stocks To Invest In 2014: Resour (WHY.V)

West High Yield (W.H.Y.) Resources Ltd. engages in the acquisition, exploration, and development of mineral resource properties in Canada. The company focuses on exploring and developing nickel, magnesium, cobalt, magnetite, and gold properties. Its primary properties include Hidden Valley 3, Frank Sr., Midnight, OK, Golden Drip, and IXL crown grants located on the outskirts of the town of Rossland in southeastern British Columbia. The company controls approximately 6,220 contiguous hectares of mineral and crown granted claims. West High Yield (W.H.Y.) Resources Ltd. was founded in 2003 and is based in Calgary, Canada.

Top 10 Blue Chip Stocks To Buy For 2014: Cross Timbers Royalty Trust (CRT)

Cross Timbers Royalty Trust operates as an express trust in the United States. The company holds 90% net profits interests in various royalty and overriding royalty interest properties in Texas, Oklahoma, and New Mexico. It also holds 11.11% nonparticipating royalty interests in nonproducing properties located primarily in Texas and Oklahoma; and 75% net profits working interests in 7 oil-producing properties, including 4 properties in Texas and 3 properties in Oklahoma. Cross Timbers Royalty Trust was founded in 1991 and is based in Dallas, Texas.

Wells Fargo and Its Steady Climb to New Heights

On a day when the overall market is up less than a percent, the steady performer that is Wells Fargo (NYSE: WFC  )  is up nearly twice as much and should close the day at a new 52-week high. While long-term investors shouldn't be nearly as interested in the daily movement of a share price, the bank definitely deserves more attention than it often gets. Here are two reasons I like the bank.

Support from great investors
By now, anyone who invests in Wells Fargo is bound to know that Warren Buffett and Charlie Munger are big fans of the bank, and the bank is Berkshire Hathaway's (NYSE: BRK-B  ) largest stock holding, a position which he has been adding to nearly every quarter. But Buffett is not alone in being a fan of the big San Francisco bank. Former Buffett protege Lou Simpson, who formerly managed the portfolio at GEICO, has nearly 8% of his portfolio at SQ Advisors in Wells Fargo stock -- including a small addition during the first quarter -- making it his fourth-largest position.

He might not be as well-known as Buffett or Simpson, but Thomas Russo of Gardner Russo & Gardner is definitely a fan of the bank, adding to his position during the last quarter, which placed Wells Fargo squarely in the top ten of his portfolio of over 230 stocks. Though the average investor will probably never hold millions of shares in any company like these great investors, their example of adding to favorite positions is definitely something that can be mimicked on a much smaller scale.

Dividend strength
Wells Fargo doesn't have the largest dividend of the Big Four banks -- that honor belongs to JPMorgan Chase (NYSE: JPM  ) -- but its current annual dividend of $1.20 per share greatly exceeds both Bank of America (NYSE: BAC  ) and Citigroup's (NYSE: C  ) paltry $0.04 per share annual payment. This dividend equates to a payout ratio of just over 25%, providing the bank with plenty of room to continue to grow its dividend going forward. It last boosted its dividend in March after receiving permission from the Fed as part of the stress tests, and should hopefully see a similar result early next year, especially if the bank can equal 2012's strong performance.

The bottom line
Wells Fargo may not make the "daily movers" list like compatriot Bank of America, but I think that this is primarily a function of the lower share prices and speculative nature of those stocks. Banking stalwarts like Wells Fargo and JPMorgan Chase tend to be viewed as the stronger of the Big Four banks, and it has been reflected in their performance over the past year. My favorite of the two is Wells Fargo, for many reasons beyond the two mentioned here.

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Universal Display's Upcoming Earnings: What You Need To Know

Universal Display (Nasdaq: PANL  ) is expected to report Q1 earnings on May 9. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Universal Display's revenues will expand 13.7% and EPS will remain in the red.

The average estimate for revenue is $14.3 million. On the bottom line, the average EPS estimate is -$0.06.

Revenue details
Last quarter, Universal Display reported revenue of $28.1 million. GAAP reported sales were 51% higher than the prior-year quarter's $18.7 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, EPS came in at $0.12. GAAP EPS of $0.12 were the same as the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 153.5%, much worse than the prior-year quarter. Operating margin was 29.8%, much better than the prior-year quarter. Net margin was 19.1%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $117.8 million. The average EPS estimate is $0.72.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,226 members out of 1,293 rating the stock outperform, and 67 members rating it underperform. Among 304 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 286 give Universal Display a green thumbs-up, and 18 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Universal Display is outperform, with an average price target of $31.80.

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