Woodward Signs Agreement to Acquire HR Textron
Positions Woodward for Growth in Airframe Systems Business Segment
Infinity Capital Group Announces Lapsing of Merger & Investment Term Sheet With Infotech Global, Inc. and Infinity Portfolio Company NPI08
NEW YORK, NY--(Marketwire - February 27, 2009) - Infinity Capital Group, Inc. (
The term sheet provided that IGI would merge with NPI08, Inc. (
Applied Nanoscience Announces Termination of Merger Agreement
CARLSBAD, CA--(Marketwire - February 27, 2009) - Applied Nanoscience Inc. (ANI) (
About ANI
ANI is a marketer and developer of innovative, high performance nanotechnology-based filtration products to customers worldwide and is the owner of NEFTT (Nanoparticle -- Enhanced -- Filtration -- Technology), a broad platform with significant application potential in consumer market segments.
American Community Bancshares Adjourns Shareholder Meeting
CHARLOTTE, NC--(Marketwire - February 27, 2009) - American Community Bancshares, Inc. (
High yield hedge: Gabelli Global Gold (GGN)
"It's time to buy Gabelli Global Gold, Natural Resources & Income Trust (NYSE: GGN) a closed-end management investment company that seeks to provide a high level of current income," says Bryan Perry.
The growth and income expert -- and editor of industry-leading The 25% Cash Machine -- highlights the high-yielding play on gold and natural resources.
"Back in December we sold our position in GGN for a 45% gain in two months. But at that time, I promised to jump back on board after a sharp pullback, since gold is going to be a good inflation hedge this year and could hit $1,000 per troy ounce. Well, now it is time to buy back into GGN.
"GGN invests primarily in equity securities of gold and natural resources companies and intends to earn income primarily through a strategy of writing (selling) covered call options on equity securities in its portfolio.
"It invests its assets in companies involved with the: gold and the natural resources industries; exploration, mining, fabrication, processing, distribution or trading of gold; and the exploration, production or distribution of natural resources, forestry products, metals and minerals.
"Plus, GGN invests in companies dealing with transportation companies and equipment manufacturers. Because of this diversification in asset investment, GGN has the liberty and flexibility to overweight in certain sub-sectors of the commodity markets as they see fit.
"And the way commodities have corrected this past year—some as much as 80%—it only makes sense to initiate a position while precious metals and raw commodities are trading at or near their yearly lows.
"GGN currently pays a distribution of 14 cents per share each month. In addition, GGN will adjust its distribution every December to include any additional income and capital gains in excess of the monthly distributions for the year.
"The high level of market volatility makes the selling of covered calls more lucrative because call premiums are priced so much higher than when in a stable market. For the managers at GGN, it’s so far so good.
"On November 20, GGN announced its monthly distribution policy for the next three months, instilling confidence in investors that it can maintain its dividend policy during these rough times.
"This is about as good visibility as one can ask for, and it shows the level of confidence that management has in declaring a dividend payout that translates into a whopping 13.35% yield.
"It's next dividend payment, March 2009, will be payable on March 24, 2009 to common shareholders as of March 17, 2009. Lock in that juicy 13%+ yield, and know that you have in place a solid inflation hedge that pays like a champ."
Pipeline profits: High yields from MLPs
"Master limited partnerships have been among the market’s most stable and reliable groups; but 2008 was a painful exception, with the benchmark index down nearly 37%, the worst performance in its 13-year history," says Elliott Gue.
In Personal Finance he now sees a "great opportunity" for investors to takes positions in this high-yielding sector. Here's a trio of favorite investment plays in the MLP arena.
"MLPs have been heavily owned by institutional investors in recent years, and many were forced to sell off their portfolios piecemeal to raise cash and pay down leverage.
"This cash-motivated, fearful selling powered several selling waves in the Alerian MLP Index. This presents investors with a great opportunity to buy into a sector that’s been hit mainly by cash-motivated selling pressure, not a deterioration in fundamentals.
"There’s a good fundamental reason for MLPs’ defensive characteristics: Most are involved in the midstream energy business which typically has little or no real exposure to commodity prices. For example, the most common assets owned by MLPs are oil and gas pipelines.
"The bottom line: The pipeline transportation business offers steady, dependable cash flows that don’t change based on commodity prices. This is one of the steadiest, most cash-flow-positive businesses you'll encounter.
"Enterprise Products Partners (NYSE: EPD) is one of the largest and oldest MLPs in the US. It owns pipelines, processing facilities and production platforms in the Gulf of Mexico, among other assets.
"Enterprise has an impressive history of growing its distributions -- raising it 27 of the past 39 quarters -- and has never once cut its payout.
"The MLP has more than $2.2 billion in new construction projects due to be completed and go into service in 2009. These will be almost immediately accretive to Enterprise’s cash flows, as they’re backed by long-term commitments by energy industry giants.
"Right now, Enterprise has more than $1.6 billion in liquidity; the MLP has cut capital spending to the point that it won’t need to access credit markets this year. But Enterprise’s management team has indicated it has plenty of additional expansion projects available that it’s looking to fund when credit markets improve.
"Enterprise is conservatively managed by oilman Dan Duncan; the MLP could boost its distributions at a faster pace, but has elected to slow distribution growth for now and build a cash flow cushion. That’s prudent in the current market. Yielding more than 9%, EPD is a buy under 27.
"Linn Energy (NASDAQ: LINE) is a limited liability company, a structure very similar to the MLP form. Unlike most MLPs, Linn isn’t involved in the midstream business but actually produces oil and natural gas.
"Producers obviously have exposure to commodity prices; lower oil and gas prices spell lower revenues. The catch is that Linn has hedged substantially all of its production out to 2012.
"That means regardless of what happens to commodity prices, Linn has locked in prices above $8 per MMBtu for gas and $90 a barrel for oil. Yielding around 15%, Linn Energy is a buy under 20.
"I would caution that holding MLPs and LLCs in a tax-advantaged account causes myriad tax issues and therefore is not recommended.
"One way around this problem is Tortoise Energy Infrastructure Fund (NYSE: TYG), a closed-end fund that focuses on the MLP industry.
"This fund is appropriate for tax-advantaged accounts, and is also convenient for investors who want to buy into the MLP story without handling K-1 partnership forms at tax time. I’m boosting my rating on Tortoise Energy Infrastructure Fund to a buy under 27."
Telemig Celular (TMB)
We are keeping our Buy recommendation on Telemig Celular Participacoes S.A. (<a href=http://www.zacks.com/stock/quote/tmb>TMB</a>). Despite the weak economic conditions throughout the world, Telemig posted great results for the fourth quarter 2008. <p> We believe that the stock remains attractively priced, given the company's positive short-term growth trends. Additionally, a more relaxed monetary policy in Brazil and the company's proposed dividend are very encouraging. <p> Finally, we believe Telemig's valuation will converge with that of Vivo in the upcoming quarters. In the medium term, Telemig will be incorporated into Vivo, creating considerable synergies.Consumer Electronics
If you are in the market for a new TV but don't actually need one I would suggest you wait for the start of the World Series, when you will get a better set at a lower price than you can buy today. <p> We currently have no Buy recommendations under coverage in this space. <p> We continue to rate Palm Inc. and Sony Corp. as Sells. Our ratings are Hold for Panasonic and Apple Inc.Motorola Inc. (MOT)
We downgrade our rating to Sell for Motorola Inc. (<a href=http://www.zacks.com/stock/quote/mot>MOT</a>), a leading manufacturer of mobile handsets, network infrastructure and cable products. This follows our assessment of overall economic conditions and further analysis of the mobile handset business following the company's disappointing financial results for full-year 2008. <p> Motorola's handset division continues to lose market share as it contends with soaring operating losses. Cell phone sales in the last reported quarter registered a drop of 53% year-over-year. Additionally, the company suspended future dividend payment to shareholders. <p> We are not convinced that valuation levels will improve over the next three to six months without a major restructuring initiative as the company faces economic headwinds, lower overall worldwide demand for its handsets, a lack of high-end competitive PDA wireless devices, and reduced visibility for near-term revenue improvement.The Medicines Company Completes Acquisition of Targanta Therapeutics Corporation
PARSIPPANY, NJ--(Marketwire - February 26, 2009) - The Medicines Company (