Keeping Corning in my long-term 50 Stocks portfolio but calling shares fully valued after 36% gain year-to-date
Update December 8, 2016. Corning (GLW) is up again today–1.22% on December 8–on news that the company has authorized a $4 billion share buyback. With a gain of 7.2% in the last month and 36.1% year-to-date I think the shares are now fully valued. No need...
Pioneer Natural Resources updates production plans; I’d look to buy if OPEC/Non-OPEC meeting this weekend disappoints
Update December 6, 2016. Pioneer Natural Resources (PXD), one the biggest oil shale producers in the low cost Permian Basin, filled in some details on its post-OPEC agreement on reducing production today at the Cowen & Co. Energy Conference. The company said it...
Good news for Ionis pipeline from this trial–upping target price to $65
Sometimes the importance of a clinical trial extends way beyond the specific drug under study. That’s the case with the Phase II data recently released by Ionis for FIXRx. The trial did show efficacy in the treatment of kidney disease. But the most important...
More good news for Jubak Pick Incyte–raising target price to $125
Incyte (INCY) has been one of the big movers in the biotech rally after Donald Trump’s victory in the November 8 presidential election. The stock is up 26.7% from the close on November 3 to the close today, November 17. (Incyte is a member of my Jubak Picks...
Bristol-Myers continues to make up lost ground after August failure of Opdivo trial
Back on August 8 Bristol-Myers Squibb (BMY) announced that its key immuno-oncology drug Opdivo had failed to demonstrate its efficacy in a trial for treating lung cancer. At the time I characterized this particular trial as a part of a go-for-broke strategy that would...
MGM Resorts still has more upside from here
MGM Resorts International (MGM) hit a new 52-week high during intraday trading on November 7. The stock is now up 119.96% since I added it to my Jubak Picks portfolio back on May 4, 2012. Shouldn’t I just take my profits and run? Well, Yes if all the catalysts...
Facebook beats earnings expectations yesterday but plunges today
Facebook (FB) crushed Wall Street expectations for the third quarter when it announced earnings after the close yesterday. And yet the shares closed down 5.68% today to $119.95. How come? Some of it is the general market nervous that I spelled out in my Morning...
Why AT&T’s bid for Time Warner, even if not smart in itself, raises odds that Verizon will buy Yahoo
On Monday, October 24, Â the U.S. stock market expressed its doubts that the AT&T (T) bid for Time Warner would go through/should go through. But despite those doubts I think the mere fact of the bid increases the likelihood that Verizon (VZ) will buy Yahoo (YHOO)...
Finally it’s official: Qualcomm to acquire NXP Semiconductors for $110 a share in cash
Qualcomm (QCOM) and NXP Semiconductors (NXPI) have agreed to a deal that would see a subsidiary of Qualcomm acquire NXP for $110 a share in cash. The structure of the deal will allow Qualcomm to use its offshore cash reserves to help fund the deal, which is expected...Some hope for the company but disappointingly familiar news for copper in Freeport-McMoRan earnings today
The story in Freeport-McMoRan Copper & Gold’s (FCX) third quarter earnings report today was better news for the company than it was for the copper market in particular or the global commodities sector in general. The company did miss Wall Street estimates on...
Qualcomm acquisition of NXP Semiconductor looks more likely
Both Bloomberg and CNBC are reporting that Qualcomm (QCOM) and NXP Semiconductor (NXPI) have agreed to a acquisition at a price of $110 for each share of NXP Semiconductors. That’s within the range that I flagged in my earlier post “Can Qualcomm steal NXP...
Itau Unibanco gains on interest rate cut but advance in Brazilian stocks is muted by arrest of another big-fish politico
Yesterday the Banco Central do Brasil reduced Brazil’s benchmark Selic interest rate for the first time in four years. The cut, 25 basis points to 14%, was less than the 50 basis points the market was hoping for. But the dream is that it will be just the first...
Verizon looking to claw back part of purchase offer on Yahoo
Update October 7, 2016. It’s easy to understand why Verizon (VZ) might feel worried about what it might find at Yahoo (YHOO) after a purchase. After all, in just the last two weeks, after the deal $4.8 billion deal was announced, Yahoo confirmed that it had been...
Seadrill gets a huge bounce on refinancing story
Update October 4. The New York traded ADRs of deep-water drilling specialist Seadrill (SDRL) are up huge this morning on reports that the company’s largest shareholder (at 23%), John Fredriksen, is willing to lend the rig company as much as $1.2 billion. The...
Can Qualcomm “steal” NXP Semiconductor?
Update October 3. Thursday the Wall Street Journal reported that Qualcomm (QCOM) was in talks to buy NXP Semiconductor (NXPI) for somewhere around $30 billion or roughly $90 a share. On Friday Bloomberg reported that NXP had hired an investment bank for advice on any...
PepsiCo beats on third quarter earnings and ups guidance
PepsiCo (PEP) announced third quarter earnings of $1.40 a share, well above analyst estimates for earnings of $1.32. (That’s year over year earnings growth of 4%.)Revenue of $16 billion was down 1.9% year over year–although it would have been up 4.2%...
Buying opportunity to come? Chesapeake Energy tumbles on fears that Icahn will sell remaining stake
Update September 27, 2016 Earlier this month Carl Icahn cut his position in Chesapeake Energy (CHK) by more than half. Nothing to worry about for other shareholders, he said. The sale was for tax reasons. Well, today that “Move along. Nothing to see here”...
Brazil–and Itau Unibanco–is rallying big on hopes of an interest rate cut from the central bank
Update September 26, 2016 Could Brazil see the first interest rate cut since 2012 in October? With the Banco Central do Brasil’s benchmark Selic interest rate at 14.25% there’s certainly plenty of room. And even though the country’s politics are a...
Two acquisitions in a day: What is Allergan up to?
Update September 23, 2016 Allergan (AGN), which I added to my Jubak’s Picks portfolio on July 30, 2015 on the strength of its Botox franchise, acquired two companies on September 20. Neither is in the Botox or cosmetic drugs space. Both, in fact, are companies...
What oil glut? Pioneer announces that it will add 5 rigs, increasing production by 13% to 17%
Update September 22. At the Johnson Rice energy conference yesterday, Pioneer Natural Resources (PXD) announced that it plans to add 5 new horizontal drilling rigs to the 12 already at work on its leased acreage in the northern Spraberry/Wolfcamp area of the Permian...
Bristol-Myers gambled and lost on a quick expansion of cancer drug Opdivo’s market–but there’s still good upside in the shares
Update September 21. Let’s be clear about what happened to Bristol-Myers Squibb (BMY) and its key immuno-oncology drug Opdivo on Friday, August 8, when the company announced that Opdivo had failed to demonstrate its efficacy in a trial for treating lung cancer....
Looking for a tech stock for earnings season: Think Qualcomm
Update September 20, 2016 Going into the third quarter earnings season, Wall Street analysts had pegged the information technology sector of the Standard & Poor’s 500 as the only sector where estimates for the third quarter had climbed since June 30. That...
Intel raises third quarter guidance; now up 94% since I added it to my Dividend portfolio
Update September 16, 2016 In new guidance today Intel raised its outlook for third quarter revenue to $15.6 billion, $300 million above previous guidance. The midpoint forecast for gross margin climbed to 63% versus the earlier midpoint forecast of 62%. None of this...
Targa Resources can climb from here but the attraction is the 8% dividend
Last year prices for natural gas liquids fell even faster than oil prices did. Hard as that may be to believe. Which is why the price for shares of Targa Resources (TRGP) are down 23.16% for the last twelve months This year natural gas liquids have recovered faster...
So far the markets believe the Fed was bluffing in Jackson Hole speeches on September interest rate increase
Last week Federal Reserve chair Janet Yellen tried to convince financial markets in her speech at the Fed’s annual Jackson Hole get-together that an interest rate increase at the central bank’s September 21 meeting was still a possibility. But just as the...
Deere soars on big earnings beat from cost cutting
Update August 19, 2016. It’s not often that you’ll see a stock climb 13.49% on the day when the company announces that full year sales will fall 10%, worse than the 9% drop it had forecast earlier. But that’s the story today for Deere (DE.) The...
Xylem looks to buy some growth
Update August 15, 2016 Today, Xylem, a maker of wastewater and water treatment systems, and a member of my Jubak Picks portfolio since September 4, 2012, announced that it would acquire Sensus, a maker of smart meters for the utility market, for $1.7 billion. The...
Alibaba’s 59% increase in revenue puts growth worries to bed
Update: August 11, 2016. Okay, the top line numbers were impressive. Today Alibaba Group Holding (BABA) reported a 59% increase in revenue for its June quarter. But for the first time Alibaba provided segment details on its various businesses–due at least in...
Qualcomm: Now that’s a surprise
Update July 21. After the close of the market yesterday, July 20, Qualcomm (QCOM), the biggest maker of chips that run mobile phones, reported net income of 97 cent a share for the quarter that ended on June 26. That beat the 73 cents a share earned in June quarter of...Jim’s Daily Email Alerts:
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