ReneSola, Ltd. (SOL)
ReneSola, Ltd. (<a href="javascript:void(0)" onclick="quotepop('sol')">SOL</a>) - With a predominantly bearish outlook, we downgrade SOL to a SELL recommendation. The company is dogged with tightening credit markets, rising debt levels, pressure on ASPs, rising feedstock costs, and fissures in its Chinese customer base. <p> Furthermore, the company divested its stake in its polysilicon joint-venture with Zhongsheng Steel and is planning to postpone part of its expansion plans. In the long-run however, increased captive generation of solar wafer and ingots along with falling polysilicon prices will improve its cost structure and improve earnings.
December 30, 2008 | Filed Under Stocks to Sell | Leave a Comment
Cypress Biosciences (CYPB)
Cypress Biosciences (<a href="javascript:void(0)" onclick="quotepop('cypb')">CYPB</a>) - With a data from a third positive phase III trial in fibromyalgia released in early December 2008, we are feeling confident that the FDA will approval Cypress Bioscience's and partner Forest Labs' milnacipran product during the first quarter of 2009. <p> Approval of milnacipran will be a transformational event for Cypress. The company should become almost immediately profitable based on royalties from Forest Labs. By 2013 we see total revenues exceeding $110 million, with net margins above 50%. <p> We see fair value at $12 per share, or 25x our 2012 EPS estimate of $1.12 per share, discounted back to present day.
December 29, 2008 | Filed Under Stock Picks | Leave a Comment
Semiconductors
The fundamental shift from corporate IT to consumer demand is very important to consider when looking at the semiconductor industry. We like INTC, VSEA, POWI, WFR and TSRA.
December 29, 2008 | Filed Under Analyst Opinions | Leave a Comment
KeyCorp (KEY)
KeyCorp (<a href="javascript:void(0)" onclick="quotepop('key')">KEY</a>) - KeyCorp's 3Q08 loss from continuing operations came in at $0.10 per share, substantially worse than the estimates. The lower-than-expected results mainly stemmed from a steep rise in loan loss provisions and an adverse impact of derivative contract losses. <p> However, positive trends were visible in some fee-based businesses and the expenses remained well controlled. Also, the Community Banking group continues to perform well. Credit quality was mixed during the quarter. <p> Though the company has taken steps to reduce its exposure to the Commercial Real Estate (CRE) home builders segment, we anticipate higher losses in CRE portfolio in the coming quarters in view of its sizeable exposure to risky markets. As such, we are maintaining our Sell rating on the shares of KEY, with a six-month price target of $7.50 per share.
December 29, 2008 | Filed Under Stocks to Sell | Leave a Comment
Univest Corporation Expands Insurance Subsidiary Through Acquisition of Liberty Benefits, Inc.
The Acquisition Will Further Diversify Univest Insurance's Offerings, While Significantly Increasing Its Employee Life and Health Benefit Solutions
December 29, 2008 | Filed Under Mergers and Acquisitions | Leave a Comment
Univest Corporation Expands Insurance Subsidiary Through Acquisition of Liberty Benefits, Inc.
The Acquisition Will Further Diversify Univest Insurance's Offerings, While Significantly Increasing Its Employee Life and Health Benefit Solutions
December 29, 2008 | Filed Under Mergers and Acquisitions | Leave a Comment
Healthcare Sector
Recent market volatility aside, long-term growth of the healthcare sector overall continues to be fueled by the aging of the population and decisions in Congress related to government funding. We consider Wellpoint, Humana and Healthsouth.
December 28, 2008 | Filed Under Analyst Opinions | Leave a Comment
UST Inc. (UST)
UST Inc. (<a href="javascript:void(0)" onclick="quotepop('ust')">UST</a>) is the leading producer of moist smokeless tobacco products and dominates the premium sector of the domestic market. However, over the last 15 years, UST has been steadily losing market share to discounters in the sub-premium categories. <p> With the announced acquisition by Altria Group of UST Inc. for $69.50 per share in cash, the potential price appreciation for UST stockholders is now limited. <p> Hence, the rating is a Sell. The acquisition is expected to close by the first week of January 2009.
December 28, 2008 | Filed Under Stocks to Sell | Leave a Comment
EnCana Corporation (ECA)
EnCana Corporation (<a href="javascript:void(0)" onclick="quotepop('eca')">ECA</a>) - EnCana Corp., based in Calgary, Alberta, is a major oil and gas exploration and production (E&P) company. EnCana is the largest independent natural gas producer of North America, with volumes of 3.57 billion cubic feet per day (Bcf/d) in 2007. <p> EnCana remains better positioned to navigate the current market turbulence than many of its peers. The company remains focused on capital discipline and free cash flows. With about two-thirds of its volumes next year hedged at very attractive price points, the company is expected to generate around $1.5 billion in free cash flows. <p> The company's strong portfolio of resource plays provides for cost-effective and sustainable volume growth and reserve additions. EnCana's plan to split itself into two separate entities, while delayed at present, is expected to unlock shareholder value.
December 28, 2008 | Filed Under Stock Picks | Leave a Comment
Cash Technologies Subsidiary Acquires Turbocharger Assets
LOS ANGELES, CA--(Marketwire - December 26, 2008) - Cash Technologies, Inc. (
December 26, 2008 | Filed Under Mergers and Acquisitions | Leave a Comment