DotNetNuke Corp. Acquires Snowcovered
Acquisition to Increase Synergy Between the DotNetNuke Platform and Third-Party Software Extensions to Benefit End Users
Jaguar Mining Enterprises, Inc. Completes Reverse Merger With ACI Telecentrics, Inc.
RICHMOND, TX--(Marketwire - August 27, 2009) - Jaguar Mining Enterprises, Inc. (
Four Fidelity funds for Asia
In his Fidelity Investor, fund expert Jim Lowell suggests, "Investors should be buying Chinese stocks, Hong Kong real estate and Taiwanese technology." Here's four favorite funds.
"The fact that China is the only one of the 10 largest economies to have begun to grow is notable in and of itself.
"But it's even more more remarkable given that it has begun to grow without the aid of other global economy's in tow.
"Fidelity China Region (FHKCX) is being upgraded to a buy. Manager Wilson Wong invests at least 80% in companies from Hong Kong, Taiwan and China. The top three sectors are financials, information technology and consumer discretionary.
"Fidelity Emerging Markets (FEMKX) is also a buy. Manager Robert von Rekowsky invests in emerging markets as well as eocnomies that are tied to emerging regions.
"The top country representations are Brazil, Chia, South Korea, India and Russia. The fund's top sectors are financials, energy and materials.
"Fidelity Pacific Basin (FPBFX) -- managed by Dale Nicholls -- invests in companies from the Pacific basin. The top country representations are Japan, China, Australia, Hong Kong and South Korea. The top three sectors are financials, information technology and industrials.
"Fidelity Southeast Asia (FSEAX), managed by Jess Tan, invests in companies from the Southeast Asia region as well as companies that are tied economically to the area. The top three sectors are financials, telecom services and industrials."
Analog Devices (NYSE: ADI): ‘Operational elegance’
Paul McWilliams is well-known for his in-depth and sophisticated analysis of stocks for tech-savvy investors in his Next Inning newsletter.
In addition to corporate metrics, he places strong emphasis on superior management. Regarding integrated circuit maker Analog Devices (NYSE: ADI) he notes, "CEO Jerald Fishman really knows how to run a company."
"The numbers posted by Analog Devices and the guidance provided for its fiscal fourth fiscal quarter of 2009 (ends October 2009) were both impressive. And, when taken together, exceeded my expectations.
"As I had expected, there was an inventory adjustment that resulted in a sequential decline in excess of 18% in its shipments to Chinese wireless infrastructure suppliers.
"However, due to stronger demand than I had anticipated from several other sectors, ADI reported stronger FQ3 results than I would have expected.
"This is good news on two fronts. First, the inventory adjustment for the Chinese wireless business is behind us and was offset by better than expected demand from other sectors and, second, we should see wireless demand improve in FQ4.
"Between this and other commentary ADI shared during its conference call, I think we can take its guidance for both revenue and earnings as being somewhere between conservative and very conservative.
"Initially, Wall Street has clearly focused on the wrong thing: a slightly lower than expected gross profit margin for FQ4. In the scope of things, this focus made less sense than a bookie handicapping an Olympic runner due to a hangnail.
"Among the many things Wall Street was failing to grasp here is that ADI is designed to operate efficiently at roughly $600M in revenue. Because it is operating at a lower level than that today, it is not fully absorbing its fixed costs.
"Between this and the fact that certain sectors that generate higher relative gross margins have been slower to recover than sectors with lower relative margins, aggregate gross profit margins are currently constrained.
"Worse yet than focusing on near term results and using year-over-year comparisons to judge ADI, there was apparently no attention given to where ADI has been and where it is headed.
"ADI was very early in realizing it needed to change its business model. What happened was ADI developed strong presence in both the handset DSP and PC power control markets only to see margins decline over time as the technology became easier to produce.
"However, to its credit, ADI sold its handset business and ADI has benefited by refocusing on high margin opportunities.
"It's not that this model isn't working, it's just that its progress is masked by the combination of an unusual product mix attributable to the aggregate demand environment and the burden of inefficiently absorbed fixed costs.
"As we move forward, there are three primary things that I believe will materially boost not only ADI's gross profit margins, but its operating profit margin and bottom line earnings as well:
1. Improved economy of scale - as revenues go up, fixed costs are more efficiently absorbed
2. Lower capital spending will lead to lower depreciation charges
3. Improved mix of products that more strongly favors higher relative margin product categories
"One of my keen focuses is to quantify how well a business model leverages investment in R&D and SG&A. Think about it this way: these are the two factors representing the company's investment in profit and growth.
"Therefore, we need to measure how well the company invests here and executes. As a matter of fact, this might be the single most important thing a company does.
"An easy way to measure this is to simply divide non-GAAP gross profit dollars by non-GAAP R&D plus non-GAAP SG&A.
"Doing this tells you how many gross profit dollars a company generates for every dollar invested in operating costs. This represents how well a company does everything from picking the right product or service to sell to how well they design, build, market, sell and administrate.
"This is what I call an 'Operational Elegance' (OE) ratio and it represents how well a company does everything from picking the right product or service to sell to how well they design, build, market, sell and administrate.
"In the conference call, CEO Jerald Fishman tried to communicate that ADI is clearly focused on leveraging the return on its operational expense investments - he gets it.
"I talk with many senior executives and you would be absolutely amazed how few really embrace this operational concept; many actually think you can't focus both on leverage and growth optimization - bunk; you can if you really know how to run a company.
"Analog Devices last reported an OE ratio above 2.0 to 1 during the 2000 bubble. My bet is that ADI will return to that ratio, but this time leveraging a model that I think will sustain it for the long-term rather than just as a 'hurrah' when riding a bubble.
"My second bet is that ADI will hit that ratio inside two years and by the time it does, the stock will be trading for over $40.
"The short story here is I think ADI will grow revenue faster than its peers, mostly by successfully expanding its served market, and grow profits notably faster than revenue during the coming 12 to 24 months."
Colorado Goldfields Acquires California Mining Properties — History of the Properties, 1.23 Million Ounces of Gold, Part 2 of 3 in a Series
LAKEWOOD, CO--(Marketwire - August 27, 2009) - Colorado Goldfields Inc. (
An estimate of the total potential resource from historical data is 1.23 million ounces of gold, representing $1.15 billion at $935 per ounce. That estimate is derived by attributing 1) half of the 2 million ounces from placer production to erosion from Eddy Gulch, 2) adding the reported placer production of 150,000 ounces, and 3) reported lode production of 81,352 ounces from mines at Eddy Gulch.
The Italian Oven, Inc. Acquires Ownership Interest in Two Active Costa Rican Enterprises
DOYLESTOWN, PA--(Marketwire - August 27, 2009) - The Italian Oven, Inc. (
Marilyn Boutique, officially 3-101-532180 S.A., operates a popular but unique fashion store in downtown San Jose, Costa Rica. Marilyn Boutique combines sub-culture fashions including gothic, punk, burlesque, Victorian, metal, and vintage clothes, along with popular fashions for both women and men. When the corporation chose to move from its current location to the popular San Pedro Mall, it turned to Italian Oven International for assistance. In exchange for 25% of the capital stock of 3-101-532180 S.A., the Italian Oven agreed to provide management and marketing services for three years, in addition to guaranteeing a line of credit with the company's suppliers in the United States where the major
King Pharmaceuticals (KG)
Although King Pharmaceuticals' (<a href=http://www.zacks.com/stock/quote/kg>KG</a>) second-quarter results exceeded expectations with revenues increasing 12% from the year-ago period, we remain concerned about the declining prescription trends for key products over the past few quarters. <P ALIGN="left"> In the second quarter of 2009, Altace prescriptions declined 82.7%, Skelaxin 18.2%, Avinza 7.9% and Levoxyl 12%. We believe Levoxyl and Altace prescriptions will continue declining in the face of generic competition. Meanwhile, we expect Sonata sales to decline significantly now that generics have hit the market. Thrombin-JMI is also facing intense pricing pressure with the entry of new competitors in the market. We also expect Skelaxin prescriptions to decline significantly in 2009 as King has reduced its promotional efforts for the product. <P ALIGN="left"> Given that most of King s products are either facing generic competition or will be facing generics in the next few years, we believe the company s pipeline needs to deliver in order to drive future growth. In addition to generic competition, products like Altace and Sonata are also facing tough competition from branded products. <P ALIGN="left">Chevron Corp. (CVX)
Chevron Corp. (<a href=http://www.zacks.com/stock/quote/cvx>CVX</a>) reported better-than-expected second-quarter 2009 EPS of $1.10, surpassing the Zacks Consensus Estimate of 95 cents per share. Contribution from increased production of crude oil and natural gas due to the start-up of new projects has more than offset the sharp decline in commodity prices. <p> While a weak oil price environment may weigh on the stock over the coming weeks, given its strong pipeline of development projects and impressive recent exploration successes, the company's long-term outlook has significantly improved. <p> As such, we recommend an Outperform rating for Chevron shares.Advanced Swine Genetics Closes Reverse Merger With Apogee Robotics, Inc.
HARBIN, CHINA--(Marketwire - August 26, 2009) - On August 13, 2009, Apogee Robotics, Inc.
(
Systems Evolution CEO Steven Humphries Comments on Hoss Motor Sports Acquisition
ADDISON, TX--(Marketwire - August 26, 2009) - Systems Evolution, Inc. (
Chief Executive Officer Steven Humphries commented on the company, its plans and its future stating, "With the acquisition of HMSI, we will refocus our marketing efforts on the search and rescue market which will target states, municipalities and other countries in the Hurricane, Tornado and Earthquake zones around the world."