Why the Upgrade?
Strong order activity coupled with rising demand for energy infrastructure, especially in the liquefied natural gas (LNG), gas processing and oil sands markets across the world, are expected to lead to a positive earnings surprise in the upcoming quarter.
The surge in shale gas revolution in North America and the recent approval from the U.S. Department of Energy (DOE) for the export of LNG has created a strong opportunity and thereby a good market for Chicago Bridge & Iron. The company is benefiting from this potential in LNG market and has been receiving a steady inflow of orders from the world�� largest refineries and oil & gas facilities. The company�� order pipeline primarily comprises front-end engineering and design (FEED) analysis of key projects.
In addition, CBI is already an established niche player in the LNG market, supported by its ability to participate in multiple stages of development and strong base for investments. Given the potential surge in the manufacturing and export of LNG worldwide, CBI expects strong demand specifically for LNG/low temperature storage systems (petrochemicals), an area where Chicago Bridge & Iron plans to aggressively capture market share.
Hot Low Price Stocks To Own Right Now: Solazyme Inc (SZYM)
Solazyme, Inc. (Solazyme), incorporated on March 31, 2003, makes oil. The Company�� technology transforms a range of plant-based sugars into oils. Its renewable products can replace or enhance oils derived from the world�� three existing sources-petroleum, plants and animal fats. The Company is focused on commercializing its products into three target markets: fuels and chemicals, nutrition, and skin and personal care. In 2010, the Company launched its products, the Golden Chlorella line of dietary supplements. In March 2011, the Company launched its Algenist brand for the luxury skin care market through marketing and distribution arrangements with Sephora S.A. (Sephora International), Sephora USA, Inc. (Sephora USA), and QVC, Inc. (QVC).
The Company is engaged in development activities with multiple partners, including Chevron U.S.A. Inc., through its division Chevron Technology Ventures (Chevron), The Dow Chemical Company (Dow), Ecopetrol S.A. (Ecopetrol), Qantas Airways Limited (Qantas) and Conopoco, Inc., doing business as Unilever (Unilever).
In 2010, the Company entered into a 50/50 joint venture with Roquette Freres, S.A. (Roquette). In November 2010, the Company entered into a joint venture and operating agreement for Solazyme Roquette Nutritionals with Roquette. In December 2010, the Company entered into an exclusive distribution relationship with Sephora International, and in January 2011, the Company entered into a distribution relationship with Sephora USA. Under the arrangements, each of Sephora International and Sephora USA will distribute the Algenist product line in their respective territories.
In Fuels and Chemicals market its renewable oils can be refined and sold as drop-in replacements for marine, motor vehicle and jet fuels, as well as replacements for chemicals that are traditionally derived from petroleum or other conventional oils. The Company work with its refining partner Honeywell UOP to produce Soladiesel (renewable diesel), So! ladiesel renewable diesel for United States Naval vessels, and Solajet renewable jet fuel for both military and commercial application testing. In nutrition market the Company has developed microalgae-based food ingredients, including oils and powders that enhance the nutritional profile and functionality of food products while reducing costs for consumer packaged goods (CPG) companies. In Skin and Personal Care market the Company hs developed a portfolio of branded microalgae-based products. Its ingredient is Alguronic Acid, which the Company has formulated into a range of skin care products with anti-aging benefits. The Company is also developing algal oils as replacements for the oils used in skin and personal care products.
The Company competes with BP p.l.c., Royal Dutch Shell plc, and Exxon Mobil Corporation, jatropha, camelina, SALOV North America Corporation, Archer Daniels Midland Company, Cargill, Incorporated, DSM Food Specialties and Danisco A/S
Advisors' Opinion:- [By Jake L'Ecuyer]
Equities Trading DOWN
Shares of Solazyme (NASDAQ: SZYM) were down 1.30 percent to $11.40 after the company priced offering of $130 million of 5.00% Convertible Senior Subordinated Notes due 2019 and 5 million shares of at $11.00 per share. - [By Maxx Chatsko]
You call it cheating -- I call it looking ahead
Who said biotech investments are confined to health care and pharmaceuticals? Solazyme (NASDAQ: SZYM ) has nothing to do with either, but forward-thinking investors won't let that stop them. The industrial biotechnology company is developing a novel renewable oils platform that could one day produce commercial quantities of in-spec chemicals for a variety of applications including cosmetics, flavors and fragrances, specialty chemicals, and fuels.
Top Dow Dividend Companies To Own For 2014: CLARCOR Inc. (CLC)
CLARCOR Inc. provides filtration products, filtration systems and services, and consumer and industrial packaging products worldwide. Its Engine/Mobile Filtration segment offers oil, air, fuel, coolant, transmission, and hydraulic fluid filters for engines used in stationary power generation and mobile equipment applications, as well as for marine, construction, industrial, mining, and agricultural equipment. This segment also provides dust collection cartridges for environmental filtration applications The company�s Industrial/Environmental Filtration segment manufactures specialty industrial process liquid filters; filters for pharmaceutical processes and beverages; filtration systems, filters, and coalescers for the oil and natural gas industry; filtration systems for aircraft refueling, anti-pollution, sewage treatment, and water recycling; bilge water separators; sand control filters for oil and gas drilling; and woven wire and metallic products for filtration of pl astics and polymer fibers. This segment also offers antimicrobial treated filters and electronic air cleaners for use in commercial and residential buildings, hospitals, factories, residences, paint spray booths, gas turbine and dust collector systems, medical facilities, motor vehicle and aircraft cabins, clean rooms, and compressors. Its Packaging segment provides metal, plastic, and a combination of metal/plastic containers and closures for packing dry and paste form products, smokeless tobacco products, lip balms, ointments, and consumer healthcare products. This segment also offers shells for dry batteries; canisters for films and candles; spools for insulated and fine wire; and custom decorated flat metal sheets. The company distributes its products through independent distributors, dealers for original equipment manufacturers, retail stores, and internal sales force, as well as directly to end-use customers. CLARCOR Inc. was founded in 1904 and is headquartered in Fra nklin, Tennessee.
Advisors' Opinion:- [By Marc Bastow]
Filtration and packaging product provider Clarcor (CLC) announced a 26% dividend increase to 17 cents per share, payable Oct. 18 to shareholders of record as of Oct. 11.
CLC Dividend Yield: 1.22% - [By Tom Lydon]
Top holdings based on the index include Acadia Healthcare Companies (ACHC), Amsurg Corporation (AMSG), Brookdale Senior Living (BKD), Clarcor (CLC) and Community Health Systems (CYH).
Top Dow Dividend Companies To Own For 2014: LKQ Corp (LKQ)
LKQ Corporation (LKQ) provides replacement parts, components and systems needed to repair vehicles (cars and trucks). The Company operates in four segments: Wholesale-North America, Wholesale-Europe, Self Service and Heavy-Duty Truck. Buyers of vehicle replacement products have the option to purchase from primarily five sources: new products produced by original equipment manufacturers (OEMs), which are known as OEM products; new products produced by companies other than the OEMs, which are sometimes referred to as aftermarket products; recycled products originally produced by OEMs, which it refers to as recycled products; used products that have been refurbished; and used products that have been remanufactured. October 1, 2011, it acquired Euro Car Parts Holdings Limited (ECP). On May 27, 2011, it acquired AkzoNobel Coatings Inc.'s paint distribution business consisting of 40 locations across the United States. In February 2012, the Company announced that it had acquired Pieces Automobiles Lecavalier IncEffective August 6, 2013, LKQ Corp acquired Premier Paints Ltd, a manufacturer of motor vehicle parts, form Iris Coatings Ltd, and concurrently, LKQ acquired Bee Bee Refinishing Supplies Halstead, JCA Coatings, Milton Keynes Paint & Equipment and Sinemaster Motor Factors Ltd.
The Company distributes a variety of products to collision and mechanical repair shops, including aftermarket collision and mechanical products, recycled collision and mechanical products, refurbished collision replacement products such as wheels, bumper covers and lights, and remanufactured engines. Collectively, it refers to its products as alternative parts. The Company is a provider of alternative vehicle collision replacement products, and a provider of alternative vehicle mechanical replacement products. Its sales, processing, and distribution facilities reach markets in the United States and Canada. In addition to its wholesale operations, it operates self service retail facilities that sell recycled automotiv! e products. The Company also sells recycled heavy-duty truck products and used heavy-duty trucks.
The Company obtains its aftermarket inventory from auto parts manufacturers and distributors based in the United States, Taiwan, Europe and China. The Company procures recycled automotive products mainly by purchasing salvage vehicles, typically severely damaged by collisions and primarily sold at salvage auctions or pools, and then dismantling and inventorying the parts. The refurbished and remanufactured products that it sells, such as wheels, bumper covers, lights and engines, originate from Companyparts from the salvage vehicles bought at auctions, parts received in trade at collision shops purchasing replacement products from the, and damaged parts bought through bulk purchases from core sales companies that collect damaged parts. The majority of our products and services are sold to collision repair shops, also known as body shops, and mechanical repair shops.
WHOLESALE AUTO PRODUCTS-NORTH AMERICA
The Company�� wholesale automobile product operations in North America are organized by geographic regions serving the United States and Canada that sell all four product types to collision and mechanical automobile repair businesses. As of December 31, 2011, these wholesale operations conducted business from more than 290 facilities. its aftermarket product operations may include a combination of sales, warehousing and distribution, and in many cases will be co-located with its refurbishing operations. Its salvage operation typically has processing, sales, distribution and administrative operations on site, indoor and outdoor storage areas, and include a warehouse with multiple bays to dismantle vehicles.
The Company�� 2011, sales included more than 86,000 stock keeping units (SKUs) of aftermarket collision products and repair materials for the models of domestic and foreign automobiles and light trucks. Its aftermarket product types consist of thos! e frequen! tly damaged in collisions, including automotive body panels, bumper covers and lights. The Company distributes paint and other materials used in repairing damaged vehicles, including sandpaper, abrasives, masking products and plastic filler. The paint and other materials distributed by the Company are purchased from numerous suppliers in the United States and Canada. Certain of these products are distributed under the brand Keystone. Platinum Plus is its exclusive brand offered in the Keystone product line of aftermarket products. The aftermarket products it distributes are purchased from independent manufacturers and distributors located primarily in the United States and Taiwan. The Company has business arrangements with manufacturers to produce its Platinum Plus products.
The Company�� recycled products include engines, transmissions, doors, front end assemblies, trunk lids, bumper assemblies, head and tail lamp assemblies and mirrors. Some insurance companies mandate that the recycled products must be of the same model year or newer as the vehicle being repaired. The Company procures recycled products for its wholesale operations by acquiring damaged or totaled vehicles. During the year ended December 31, 2011, LKQ acquired approximately 228,000 salvage vehicles for its wholesale recycled product operations. Vehicle processing for its wholesale recycled operations involves dismantling a salvage vehicle into recycled products that are ready for sale.
As of December 31, 2011, it operated 34 plastic bumper and bumper cover refurbishing plants, a chrome bumper plating plant, 15 wheel plants, one light refurbishing plant and four engine remanufacturing facilities. Most of its refurbished and remanufactured products are sold through its wholesale distribution channels. The balance is sold to retail automotive stores, wholesale distributors and through Internet sales. Its wholesale recycled product operations generate scrap metal and other materials that it sells to recyclers. T! he Compan! y has a distribution network of over 290 wholesale plants and warehouses across the United States and Canada, of which 50 function as hub or cross dock facilities.
WHOLESALE AUTO PRODUCTS-EUROPE
The Company�� European wholesale operating segment was formed in 2011 with its acquisition of ECP, the distributor of automotive aftermarket products. The Company operates 90 branches, supported by eight regional hubs and a national distribution center, which allows us to reach major markets within the United Kingdom. In 2011, it sold more than 121,000 SKUs of aftermarket products, primarily composed of mechanical aftermarket parts for the repair of vehicles five to 15 years old. Its products include electrical products, such as spark plugs and ignition coils, clutches and related parts, steering and suspension parts, and brake pads and sensors. The Company sells its products to over 32,000 professional repairers, including primarily independent mechanical repair shops and collision repair shops.
SELF SERVICE RETAIL PRODUCTS
The Company�� self service retail operations sell parts from older cars and light trucks directly to consumers. In addition to revenue from the sale of parts, core and scrap, it charges admission fee to access the property. Its self service facilities typically consist of a fenced or enclosed area of several acres with vehicles stored outdoors and a retail building through which customers are able to access the yard. As of December 31, 2011, it conducted our self service retail operations from 47 facilities in North America. Its self service auto recycling operations generate scrap metal, alloys and other materials that it sells to recyclers.
HEAVY-DUTY TRUCK PRODUCTS
As of December 31, 2011, it had a total of 18 facilities in the United States and Canada. Its inventory is comprised of used heavy- and medium-duty trucks, usually five years or older, which are purchased at salvage and truck auctions or direct! ly from i! nsurance companies or fleet operators. During 2011, it purchased approximately 6,000 vehicles. Depending on the condition of the vehicles, they may be dismantled for parts or resold as running vehicles. If certain mechanical parts are damaged, such as transmissions, it may remanufacture them and offer them to its customers. The vehicles that are acquired for resale are typically special purpose or vocational use trucks, such as those used for garbage pickup or cement delivery. If requested by the sellers of the vehicles, it provide an assurance that the vehicles will be sold to foreign buyers and exported to countries for use outside of the United States, or to domestic buyers after the vehicles have been reconditioned and modified for use other than their original purpose.
Advisors' Opinion:- [By Holly LaFon]
LKQ Corporation (LKQ) is the world's largest procurer and distributor of alternative and aftermarket collision replacement parts for automobiles and other vehicles. The Company has grown rapidly since its inception in 1998, by executing an expansion strategy that has included aggressive organic and inorganic investments. To date, LKQ's strategy has resulted in a business with unparalleled scale, at over $5 billion in revenues across three continents, compared with aftermarket and salvage parts competitors that routinely post less then $100 million in sales, usually with the largest footprints limited to regional geographies.
- [By Chris Hill]
In this segment, Mike talks about�LKQ (NASDAQ: LKQ ) , and why the largest operator of junkyards has turned its scale into an incredibly well-run business, and Matt takes a look into�McDonald's (NYSE: MCD ) , which reports earnings tomorrow. After a rough period for McDonald's as the competitive landscape shifts toward fast-casual dining options such as Panera and Chipotle, Matt will be looking for signs in the earnings report that the strategy at McDonald's to adapt and shift its business focuses is coming to fruition.
Top Dow Dividend Companies To Own For 2014: Guided Therapeutics Inc (GTHP)
Guided Therapeutics, Inc., incorporated on October 27, 1992, is a medical technology company focused on developing medical devices. The Company�� primary focus is the development of its LuViva non-invasive cervical cancer detection device and extension of its cancer detection technology into other cancers, especially esophageal. Its technology, including products in research and development, primarily relate to biophotonics technology for the non-invasive detection of cancers. LuViva is a non-invasive cervical cancer detection product, based on the Company's biophotonic technology. The device is designed to identify cervical cancers and precancers painlessly, non-invasively and at the point-of-care by scanning the cervix with light, then analyzing the light reflected or emanating from the cervix.
The Company's product, in addition to detecting the structural changes attributed to cervical cancer, is also designed to detect the biochemical changes that precede the development of visual lesions. The product is expected to incorporate a single-use, disposable calibration and alignment component.
The Company competes with Qiagen, MediSpectra, Inc., Merck & Co., Inc., and GlaxoSmithKline PLC.
Advisors' Opinion:- [By CRWE]
Last Friday, GTHP had shed (-2.16%) down -0.015 at $.679 with 39,538 shares in play at the close (ref. google finance August 23, 2013 ��Close).
Guided Therapeutics, Inc. previously reported its operating results for the second quarter and six months ended June 30, 2013.
Revenue and other income for the second quarter of 2013 was approximately $338,000, including $116,000 in sales of LuViva庐 devices and disposables associated with its European launch, with the remainder of revenue representing contract and grant income. This compares to revenue of approximately $944,000 in the second quarter of 2012, which was comprised almost solely of contract and grant income. Revenue for the first six months of 2013 was $637,000, including $248,000 in sales of LuViva device and disposables. Revenue in the first six months of 2012 was $1.6 million, which was comprised almost solely of contract and grant income. The year over year decline in contract and grant income for both periods was primarily due to bringing the worldwide rights to the Company�� esophageal cancer detection technology back in house.
- [By CRWE]
Today, GTHP remains (0.00%) +0.000 at $.710 with 44,700 shares in play thus far (ref. google finance Delayed: 11:42AM EDT August 21, 2013).
Guided Therapeutics, Inc. previously reported its operating results for the second quarter and six months ended June 30, 2013.
Revenue and other income for the second quarter of 2013 was approximately $338,000, including $116,000 in sales of LuViva庐 devices and disposables associated with its European launch, with the remainder of revenue representing contract and grant income. This compares to revenue of approximately $944,000 in the second quarter of 2012, which was comprised almost solely of contract and grant income. Revenue for the first six months of 2013 was $637,000, including $248,000 in sales of LuViva device and disposables. Revenue in the first six months of 2012 was $1.6 million, which was comprised almost solely of contract and grant income. The year over year decline in contract and grant income for both periods was primarily due to bringing the worldwide rights to the Company�� esophageal cancer detection technology back in house.
Top Dow Dividend Companies To Own For 2014: Penn Virginia Resource Partners LP(PVR)
Penn Virginia Resource Partners, L.P. engages in the management of coal and natural resource properties; and gathering and processing of natural gas in the United States. It operates in two segments, Coal and Natural Resource Management, and Natural Gas Midstream. The Coal and Natural Resource Management segment primarily involves in the management and leasing of coal properties. It also engages in land management activities; and provides coal preparation and loading services. The segment owns approximately 900 million tons of proven coal reserves in northern and central Appalachia, and the Illinois and San Juan Basins. The Natural Gas Midstream segment offers gas processing, gathering, and other related natural gas services. This segment owns and operates natural gas midstream assets located in Oklahoma, Pennsylvania, and Texas. It owned and operated approximately 4,200 miles of natural gas gathering pipelines and 7 natural gas processing facilities with approximately 420 million cubic feet per day of capacity. This segment also owns a natural gas marketing business, which aggregates third-party volumes and sells those volumes into intrastate pipeline systems and at market hubs accessed by various interstate pipelines. The company was founded in 1882 and is based in Radnor, Pennsylvania.
Advisors' Opinion:- [By Aimee Duffy]
After a name change last summer, PVR Partners (NYSE: PVR ) , formerly Penn Virginia Resources Partners, set out on a path to switch its business model from coal-oriented loser, to natural-gas-and-coal-diversified winner. This master limited partnership has a lot going for it, so today we're going to take a closer look.
- [By Paul Ausick]
This deal follows three midstream transactions already this month. Regency Energy Partners LP (NYSE: RGP) will acquire PVR Partners LP (NYSE: PVR) for $5.6 billion, Crestwood Midstream LP (NASDAQ: CMLP) will acquire Arrow Midstream LLC for $750 million, and Buckeye Partners LP (NYSE: BPL) will pay $650 million to Hess Corp. (NYSE: HES) for 20 petroleum products terminals along the East Coast.
- [By CRWE]
PVR Partners, L.P. (NYSE: PVR) is a publicly traded limited partnership which owns and operates a network of natural gas midstream pipelines and processing plants, and owns and manages coal and natural resource properties. PVR�� midstream assets, located principally in Texas, Oklahoma and Pennsylvania, provide gathering, transportation, compression, processing, dehydration and related services to natural gas producers. PVR�� coal and natural resource properties, located in the Appalachian, Illinois and San Juan basins, are leased to experienced operators in exchange for royalty payments. For more information, please visit PVR�� website at www.pvrpartners.com.
- [By Matt DiLallo]
PVR Partners (NYSE: PVR )
The natural resource sector is one of the best places to find dividend-paying stocks these days. One company that's caught my eye is master limited partnership PVR Partners and its 8% distribution. PVR Partners is a bit unique in that it not only owns traditional MLP-type midstream assets like pipelines and processing plants, but it also owns and manages coal and other natural resource properties, which you can see in the map below. The company doesn't actually mine the coal; instead, it leases its reserves to others and collects a royalty. Add that model to its midstream business and the result is a company that generates great cash flow to fund its distribution. That's why this businesses is one that you should get on your watchlist.
Top Dow Dividend Companies To Own For 2014: Tonix Pharmaceuticals Holding Corp (TNXP)
Tonix Pharmaceuticals Holding Corp., incorporated on November 16, 2011, is a specialty pharmaceutical company focused on developing novel pharmaceutical products for disorders of the central nervous system (CNS). The Company develops TNX-102 sublingual tablet, or TNX-102 SL. TNX-102 SL is a novel dose and formulation of cyclobenzaprine (CBP), the active pharmaceutical ingredient of two prescribed muscle relaxant products, Flexeril and Amrix. TNX-102 SL is also intended for chronic use. It develops TNX-102 SL for the treatment of FM under a United States Investigational New Drug application (IND), and under three clinical trial applications (CTAs), filed in Canada. It also develops TNX-102 SL for the treatment of post-traumatic stress disorder (PTSD). As of January 25, 2013, the Company focuses on product development, and had not generated any revenues.
The Company searches for potential therapeutic solutions among known pharmaceutical agents that lack regulatory approval for the indications it seeks, but may be approved for use in other indications. It seeks to create new dose and formulation options that are tailored to the therapeutic uses to which it applies these agents. TNX-102 SL is a small, rapidly disintegrating tablet containing CBP for sublingual administration at bedtime. The Company designed TNX-102 SL for delivery of CBP to the systemic circulation through sublingual transmucosal absorption and to avoid first-pass liver metabolism.
CBP is the active pharmaceutical ingredient in its lead product candidate, TNX-102 SL. In addition to CBP, TNX-102 SL contains inactive ingredients, called excipients, which are approved for pharmaceutical use. In addition to TNX-102 SL, it develops other formulations of CBP, including TNX-102 promicellar gelatin capsule, or TNX-102 gelcap. It developed TNX-102 gelcap under an agreement with Lipocine, Inc. (Lipocine), a contract formulation developer and small-scale manufacturer. In addition it has other pipeline of other product cand! idates, including TNX-201 and TNX-301. TNX-201 is based on isometheptene mucate and is under development as a treatment for certain types of headaches.
Advisors' Opinion:- [By John Kell]
Tonix Pharmaceuticals Holding Corp.(TNXP) is planning to offer some shares to raise money to fund clinical trials and the continued development of the specialty pharmaceutical company’s treatments. Shares edged up 2.1% to $16.75 premarket.
- [By John Udovich]
It�� a new year and the first one and a half trading weeks of 2014 has not disappointed biotech investors as the sector and mid cap or small cap biotech or�pharma stocks like Intercept Pharmaceuticals Inc (NASDAQ: ICPT), Epizyme Inc (NASDAQ: EPZM), Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) and TNI BioTech Inc (OTCQB: TNIB) either surging or producing some news plus there have been IPO filings for future listings for�Flexion Therapeutics (NASDAQ: FLXN), Aldexa Therapeutics (NASDAQ: ALDX), Retrophin (NASDAQ:�RTRX) and Dicerna Pharmaceuticals (NASDAQ: DRNA). Consider the following news so far this year:
Top Dow Dividend Companies To Own For 2014: Masco Corporation (MAS)
Masco Corporation engages in the manufacture, distribution, and installation of home improvement and building products primarily in North America and Europe. The company operates through five segments: Cabinets and Related Products, Plumbing Products, Installation and Other Services, Decorative Architectural Products, and Other Specialty Products. The Cabinets and Related Products segment manufactures and sells stock and semi-custom assembled, and ready-to-assemble cabinetry for kitchen, bath, storage, home office, and home entertainment applications, as well as kitchen countertops, and integrated bathroom vanity and countertop solutions. The Plumbing Products segment offers single-handle and double-handle faucets, showerheads, handheld showers, valves, and toilets; tub and shower systems, bath and shower enclosure units, shower trays, and laundry tubs, as well as spas; and brass and copper plumbing system components, and other plumbing specialties. The Installation and Ot her Services segment sells installed building products, such as gutters, after-paint products, fireplaces, and garage doors, as well as insulation and insulation accessories, and roofing and other products. The Decorative Architectural Products segment produces architectural coatings, including paints, primers, specialty paint products, stains, and waterproofing products; and cabinet, door, window, and other hardware products. The Other Specialty Products segment manufactures and sells vinyl, fiberglass, and aluminum windows and patio doors; and manual and electric staple gun tackers, staples, and other fastening tools. The company offers its products to the home improvement and new home construction markets through mass merchandisers, hardware stores, home centers, homebuilders, distributors, and other outlets for consumers and contractors, as well as directly to the consumers. Masco Corporation was founded in 1929 and is headquartered in Taylor, Michigan.
Advisors' Opinion:- [By John Divine]
Finally, Masco (NYSE: MAS ) shares fell 6.1%. Masco, as a building materials supplier, faces the exact same dilemma as PulteGroup: its business outlook has materially declined in just a few days, as looming higher interest rates spell tougher times ahead for real estate. The stock has fallen more than 11% this week alone, with 9% of that decline coming in just the last two days.
- [By Jon C. Ogg]
Masco Corp. (NYSE: MAS) was reiterated as Buy with a $25 price target and maintained on the Focus List at Argus.
Melco�Crown Entertainment Ltd. (NASDAQ: MPEL) was started as Outperform in a positive Asian casino and resort group call by Credit Suisse.
- [By Dimitra DeFotis]
In the homebuidling category:
Weyerhaeuser (WY), the producer of lumber, was up nearly 3%. On Thursday, Citigroup Analyst Anthony Pettinari wrote that Weyerhaeuser could sell its homebuilder unit for between $2.5 billion and $3.5 billion, and interested buyers in the unit, WRECO, could include Lennar�(LEN), Toll Brothers (TOL) and Brookfield Residential Properties (BRP). About 67% of the Weyerhaeuser unit’s roughly 27,000 lots are in California. Citi has a Buy rating on Weyerhauser and a $35 price target. Lennar, the home builder, was�up 2.6%. Masco (MAS), the building materials maker, was�up 2%.� PulteGroup (PHM), the home builder, was�up 2%. DR Horton�(DHI), the home builder, was�up 1.9%.Among real estate trusts:
- [By Ben Eisen]
Shares of Masco Corp. (MAS) �sank 7.4% after the home-improvement products maker reported its first-quarter earnings.
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