All the companies I cover that reported today (CNH, UTX, URI & HBI) had strong numbers. UTX & HBI both raised guidance.
looks like the bump off earnings reports is coming a day late. i see lots of green on my watch list. did the jobless claim numbers come out today?
gettin the itch to buy Ford, really climbing the last few days. getting close to the 52 week high though, anyone have an estimation on how high it could go? will report later today i believe, some stuff makes it seem like they should beat the estimates healthily ...
Not bad for a muni? How bad does the rating have to be to get that yield? Who is the insurer? Are we talking about a housing project here? Hospital?
University Hospitals. Pretty good yield for a tax free bond. It's equivalent to being around a 10% return on a stock.
Actually I take that back, I was looking at another bond at the time. It's callable in 30 days anytime. But it's being paid out by a National Re and doesnt look to be called anytime soon. Priced at par, so any of you Florida guys want some cash flow give ma a holla.
Has anybody ever heard of Page Petroleum? My mom informed me today that I've had 200 shares of it since 1985. I've got to get some more paperwork about it, but for the mean time, does anybody know anything about them?
I can't even find Page Petroleum when I do a Google Search. It likely either was acquired or shut down when oil hit the shitter back in the day.
Bloomberg if for us thinkin Alcoa guys, they recently announced the dividend and there are good forecasts for EPS in the 3rd quarter. any thoughts? i've brought it up before and the obvious risk IMO would be a double dip but i don't see any way that stock doesn't gain well over the next 3-5 years if the economy keeps improving ...
Only thing I could find that was worth reading Lawton L. Clark, president of Page Petroleum Ltd. since its formation in 1971, said yesterday that he would retire from the company effective Oct. 1 to pursue other business interests. The company, which is based in Calgary, Alberta, said Mr. Clark's duties would be assumed by Donald D. McCuaig, chairman and chief executive officer. Mr. Clark, who is Page's largest shareholder, will continue as a director.
People, look into Natural Gas. Municipals are going to be pimpen anyway they can to make that dollar. City fleets like buses, fire, police, anything that needs that gas, when more than likely begin switching over when oil starts hitting 3 digits and up. Florida, Texas, and my Arkansas boys, holla at ya boy for that real shit.
I just found that....that was published over a year before I was born. I wonder if it changed names. I'm tryin to dig up some more research on this stuff. It's botherin me.
i know one thing our company does in situations like this is ask the client to send in the stock certificates (assuming you have them) and our corp actions team digs up the info. if they were a part of a merger or acquisition that team figures out what stock you're owed back. see that a lot w/ death situations, grandma has some old ass certificates sitting in a safety deposit box that no one knows about until the assets pass on ...
Yeah, my mom has the certificates for it in a trunk at her house. Will be trying to find it tomorrow.
so i'm flying through my watchlist this morning, Ford w/ EPS of 1.65?? and a PE of 7.84 (FPE 9.80)? even though it's up almost 15% in the last 5 days & 20% for the last month, that still indicates to me their share price is a great value. very tempting, i'm really torn between them & Alcoa now. fundamentals would seem to be in Ford's favor, considering a EPS of -.27 was "good" news for Alcoa last quarter ... Oracle still kicking butt too. EPS 1.20, PE 20.53 (bit high?) but FPE of 13.00? seems like they have yet to reap the benefits earnings wise of their Sun Microsystems merger. up almost 10% for the last month, far ahead of the NASDAQ ...
Joe I've been kicking myself for not jumping on Ford when it was around 4. I think when I get home from this meeting I'm looking back over their financials and probably will make a play on it
i'm in there officially for Alcoa and Ford, 20 shares each. just a little dabble for both and if their prices stay around this level i'll try to add more in next week on pay day ... this is from their PR team, was discussed in a MotleyFool forum, their 2nd quarter was really outstanding (during a time where it seems like their comp is lagging a bit) ...
Bloomberg has no valuable info on Page Petroleum Ltd. It lists a former ticker of PGE though. It looks like it probably went private.
i'm surprised Bloomberg wouldn't keep track of that. i'm still a novice with it, but i thought you could follow those types of corporate actions ... i haven't done enough research on them but i think there's other plays out there with a better shot at performing soon. FNM to me still has a long ways to go (really no research performed here). i'd prefer to make that sort of play on Citigroup, and even that to me is somewhat speculative when you can get GE for $15/share. but like GBR noted i don't think you'd lose much money on Citi or FNM since the gov't will do what's neccessary to keep them solvent
Speaking of distressed/bankrupt equities, I bought CEMJQ today. It is not for the faint of heart. Chemtura is a bankrupt chemical company. The unsecured creditors are currently feuding with the equit committee (Canyon & SVP) over the value of the claims. The Plan of Reorg has already been filed giving $0.28 of value to the stock (currently trades at $0.40). The equity committee has a competing proposal to reinstate the bonds and to not settle with the PBGC or Environmental claims and give equity holders all the equity (and require a rights offering). Right now the lenders are winning but there is good upside if the equity holders either win or get a bone thrown to them for dropping litigation. If you don't know distressed situations avoid. Even if you do, it is a bit of a flyer but I like the risk/reward.
They usually do (CACS). I think it happened a long time ago. The ticker PGE was reused and that company was acquired.
Actually I figured it out. Page Petroleum defaulted in April 1986. It says it went in to receivership (weird, that normally is for banks). The convertible bond that was outstanding got $.02 on the dollar. I encourage you to try to get something for the certificate but it looks like they are worthless. Perhaps you can sell them on eBay.
I got some cash in my IRA. I am thinking about trying to scoop up about 50 shares of Ford and 50 shares of GE. I already have 100 shares of GE that I bought over the last 18 months for an average price of $15.55. I think I am going to put a limit order on both and try to scoop at around $11.50 on Ford and $15.50 on GE. Also switched over to dividend reinvestment on GE, Wells Fargo Prefferred and BB&T in my IRA. What are your thoughts on the general rule of thumb on dividend reinvestment?
that limit order on F is a bit low IMO. i think you'd run the risk of the transaction not being performed. i put my order in at the market rate. unfortunately i did it right at the open today so the price has already gone down a bit today. i'm not too worried about it though cause i'm looking out 3-5 years at least. there is just a TON of positive news on them. idk what Mullaly makes but he deserves a raise. i would love to get some Wells Fargo in my portfolio, of all the big banks they seem to be the best positioned long term. big presence coast to coast with the Wachovia merger, Wells Fargo Advisors seems like a top notch brokerage/wealth management firm. most everyone i know in CLT that worked for Wachovia was in i-banking, so i think that acquisition added a whole business for WF. they seemed to be completely retail based before the merger (most likely why they were the buyer and not the buyee). i think they'll be more active now in IPOs & debt restructuring for large corps ...
Question in regards to GM (MTLQQ). What is going to happen to these shares when(if, but really when) GM goes public again? I know there's a ton of risk involved, but what happens in a situation like this?
It might be a little low especially with all the positive momentum. I usually like limite orders because the price tends to flucuate enough over the course of a month to grab it if the limit is with-in reason. I got the WF-P right after the banking crises when the bottom feel out of those stocks and banks like Wachovia were getting bought out. WF though was always very conservative and didn't have near the risk as the other large banks never at risk to go under, so the preffered was never at risk of a dividend cut. There prefferred was sitting at around $12 with a double digit yield. It was basically free money. Can't believe I didn't buy more. 18 months later the price has doubled on top on the high yield. Definitely right up with Garmen IPO as my best investment. Of course I have had my share of facepalms as well like betting the GM wouldn't go into bankrupcy. Turned $1000 to $75 bucks in a span of a couple years.
goddamn. i didn't think preferred shares appreciated like that. nicely done sir. idk but some guys on the floor are loving the GM IPO if/when, lemme bounce that off 'em ...
Yes, WFC had virtually no IB prior to Wachovia. They acquired Ragen Mackenzie and and couple other bucket shops years ago but they never did much in the arena. They were much more of a consumer focused bank without much corporate lending compared to peers. Wachovia was really a perfect pairing geographically and business wise.
They don't under normal trading conditions. They usually trade right around the dividend yield for what they were issued at in this case 7%. If you look at the 5 year chart of WF+J it trades right around $27 from those years but right after the bank collapse in late 2008 in collapsed briefly all the way to just over $2 before bouncing quickly back up in the low $20 then collapsed again to around $10 early in the 2009 and traded in the teens for a few months climbed back up to $27 over the remainder of the year and has traded at right around that price for all of 2010. It isn't going to get any higher, but still have a decent number of shares locked in at around 13% dividend.
i may have to see what their current preferred shares yield. i'm still looking for an alternative to my savings acct. i'd rather take some risk and have a chance @ 3-5% returns than no risk for no reward at this point. obv liquidity will be an issue, but i feel like my savings are just wasting their potential in banks these days ... still searching for that HY fund too. might go with some ETFs in that arena since the min investment would be slightly less ... Rabid that BlackRock A one looks great and only costs $1k to start ... any reason why it's so low? seems like the industry standard for a HY mutual is $3k ... and i was under the impression BlackRock was a tough firm to invest in w/o a lot of cash ...
according to some co-workers the two have nothing to do with each other. MTLQQ is just old GM's bad assets. when they IPO as GM again it won't liquidate MTLQQ. if you're interested in GM's IPO it's really of no consequence ...
I think there are a number of fairly stable preferred stocks out there with limited downside that can provide yields in excess of 6%. Ford has a preferred at 7.5% yield. Likely has some upside potential as well. If you are willing to take on a little more risk Morgan Stanley Pref is over 11% right now. WFC/BAC all have preferred options. Since they are stock they are obviously liquid. Part of the reason I rolled over to dividend reinvestment was because my money was just sitting on the sidelines waiting for me to invest it and I haven't really made any plays recently so it is just stacking up gaining my a quarter a month.
fixed income guys, any thoughts on how new debt offerings can impact a company's stock price? if a company w/ great profits and a growth focus releases new long term debt (presumably to raise capital and invest in the company) is that a "good" thing? (assuming they get a nice rating)