Explore Stock Market

IPO Activity on Wall Street

July 28th, 2011

 

 

Historically IPO activity on Wall Street tends to be a feast or famine scenario, and it seems that investors interested in IPOs are in for a feast right now as a number of companies in different sectors go public. Having made its debut as a stock market listed company on Wednesday, Dunkin’ Brands traded up from the original list price. Shares were priced at $19, but opened at $25 and closed the day at $27,85 – up 46.6 percent. As the holding company of Dunkin’ Donuts and the Baskin Robbins chain of stores, Dunkin’ Brands trades on NASDAQ under the symbol of DNKN.

 

Dunkin’ Brands is the latest in a list of private equity backed companies to go public since the beginning of 2011, including the renowned consumer ratings company Nielsen Holdings; chip manufacturer Freescale Semiconductor Holdings, and HCA Healthcare. Virgina-based ADS Tactical Inc. is set to go public on Friday July 29 with the intention of raising $204 million through the sale of 12 million shares priced at between $16 and $18. W Read more…

Tags: Ipo Activity, Street, Wall Street

Posted in Stock Advices | No Comments »

(DFG) Delphi Misses Estimates – Grows Year Over Year

July 27th, 2011

Delphi Financial Group’s (DFG) second quarter 2011 core operating income of 86 cents per share missed the Zacks consensus Estimate by 5 cents but compared favorably with 79 cents reported in the prior-year quarter.

The earnings miss was driven by lower operating income at Delphi’s Asset Accumulation segment, partly offset by higher operating income at its Group Employee Benefit segment.

Total revenue for the quarter was $469.3 million, up 12.6% year over year, led by increased fees and premium income, higher net investment income and lower impairment losses.

Delphi’s core Group Employee Benefit Segment premiums hiked 8.5% year over year to $366.5 million. This premium growth was driven by a 16.6% increase in core premiums at Delphi’s Safety National subsidiary, with production surging 77.2%. At Delphi’s Reliance Standard Life unit, core premiums grew 5.9%, while core production dropped 7.9%.

Operating income for the segment was $73.1 million, an 11.9% increase from the second quarter of 2010. Combined

Read more…

Tags: Delphi, Delphi Misses

Posted in Stock Advices | No Comments »

New Record Low: Only 6% of Voters Think Congress is Doing a Good Job

July 27th, 2011

The latest Rasmussen Reports poll shows Voter approval of Congress has fallen to a new low. Here are some of the findings.

• Just six percent (6%) of Likely U.S. Voters now rate Congress’ performance as good or excellent. Last month, Congressional approval ratings fell to what was then a record low with eight percent (8%) who rated its performance good or excellent.
• Sixty-one percent (61%) now think the national legislators are doing a poor job, a jump of nine points from a month ago.
• 63% of Mainstream voters think Congress is doing a poor job, just 44% of the Political Class agree.
• The majority of voters are worried the final deal will raise taxes too much and won’t cut spending enough.
• Only 11% of voters believe this Congress has passed any legislation that will significantly improve life in America. That ties the lowest ever finding in nearly five years of surveys, last reached in January 2009. Sixty-nine percent (69%) think Congress has not passed any legislation of this caliber, a six-point increase from June and the most negative assessment ever. Nineteen percent (19%) are not sure.

Read more…

Tags: Congress, Congress Doing

Posted in Stock Advices | No Comments »

Biotech Trade Idea: Aeterna Zentaris on the Move

July 27th, 2011

Shares of Aeterna Zentaris Inc. (NASDAQ: AEZS), a Canada-based drug development company specializing in oncology and endocrine therapy, are climbing in today’s trading on news the company has completed  its patient enrollment for phase III trial with perifosine, the companys lead product candidate, in refractory advanced colorectal cancer. At last check, Aeterna shares were trading 3.50% higher at $2.07, with volume at 636,135.

The phase III trial, which involves 430 patients, is being conducted following a Special Protocol Assessment (SPA) with the U.S. FDA. The trial is being sponsored by Keryx Biopharmaceuticals Inc. (NASDAQ: KERX), who is also licensee for perifosine in North America.

Juergen Engel, Ph. D., president and CEO of Aeterna, said that the company wishes to congratulate its partner Keryx and all those involved in reaching the key patient recruitment milestone within a 16-month time frame. From here the company plans on moving forward to the completion of the pivotal phase III trial in order to potentially provide an additional treatment to refractory advanced colorectal cancer patients.

 

 

Tags: Aeterna Zentaris, Zentaris

Posted in Stock Advices | No Comments »

2 yr auction mixed but buyers still not scared

July 27th, 2011

The 2 yr note auction was mixed as the yield was right in line with the when issued but the bid to cover of 3.14 was below the 12 month average of 3.36. Direct and indirect bidders took 48% of the auction, a touch above the 46% average of the previous 12 months. The results come just minutes after White House spokesman Carney added another word to the debt ceiling lexicon saying a US default would be cataclysmic to the economy. There is a difference however between a default caused by not raising the debt ceiling, which is just technical in nature, and one where an entity can not pay back a loan due to a lack of money. The US has a printing press, therefore will never default outside of a Congressional technicality and currency debasement. Bottom line, buyers of todays auction and Treasuries in general across the yield curve are not bothered by the political noise, just annoyed with having to hear about it instead.

Tags: Auction Mixed, Mixed

Posted in Stock Advices | No Comments »

United Technologies Corp. – Growth & Income

July 26th, 2011

United Technologies Corp. (UTX – Analyst Report) recently delivered a triple play for the second quarter of 2011: a positive sales surprise, a positive earnings surprise, and increased guidance. The vast majority of analysts have been raising their estimates too, sending the stock to a Zacks #2 Rank (Buy).

United Technologies has also been returning value to shareholders through stock buy backs and dividend increases. It currently yields a solid 2.2%. Valuation is reasonable too, with shares trading around their 10-year median.

Company Description

United Technologies Corporation provides products and services to the building systems and aerospace industries. Its operations are reported in six different segments:

Otis: (12.5% of total revenue)
Carrier: (9.7%)
UTC Fire & Security: (8.1%)
Pratt & Whitney: (5.3%)
Hamilton Sundstrand: (10.5%)
Sikorsky: (5.6%)

It is headquartered in Hartford, Connecticut and has a market cap of $80.3 billion.

Second Quarter Results

On July 20, United Technologies reported second quarter earnings per share of $1.45, beating the Zacks Consensus Estimate by 4 cents.

Read more…

Tags: Corp, Technologies Corp, United Technologies, United Technologies Corp

Posted in Stock Advices | No Comments »