Plains All American Pipeline L.P. (PAA) yesterday announced the acquisition of certain pipelines, a manifold system and approximately 400,000 barrels of crude oil storage capacity from Holly Corporation (HOC) for $40 million. The deal includes 6 tanks, 9 receiving pipelines and related assets and contract rights located at or associated with Holly’s Tulsa, Oklahoma refinery.  Apart from the sale, the companies entered into a tank lease and throughput agreement, allowing Holly to use the acquired tankage for a monthly payment and pipelines for a fee. Holly will maintain ownership of the remaining 2.8 million barrels of intermediate and finished petroleum product tankage that was acquired as part of Holly's Tulsa refinery acquisition from Sunoco in June 2009.  Plains and Holly have also agreed to work together to identify and capture contango storage opportunities.  Plains All American Pipeline L.P. is a publicly traded master limited ...

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Monday, July 20, 2009

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Open Text (NASDAQ: OTEX), a global leader in Enterprise Content Management (ECM), today announced that FirstClass Mobile is now available as a free download from the App Store. FirstClass Mobile brings a broad range of rich features to the iPhone and iPod touch giving users access to their messaging and collaborative services from virtually anywhere.

OPKO Health, Inc. (NYSE Amex:OPK) today announced that it has entered into a worldwide exclusive license agreement with Academia Sinica in Taipei, Taiwan, for a new technology to develop protein vaccines against influenza and other viral infections. The technology was discovered by Dr. Chi-Huey Wong,

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Anxiety over Hurricane Gustav is fading, oil prices are falling, and Brent Wilsey of Wilsey Asset Management says it’s time for stock-market investors to get into the action.

“This market is moving forward, and people sitting on the sidelines, they’re missing some great opportunities here,” he told CNBC.

Track his picks at:

http://trackthepros.com/stocks/category/855

Recommendations:

So where does he find the opportunities?

“An insurance company that’s a re-insurer for property and casualty…is Transatlantic Holdings which is down 20 percent from the 52-week high,” he said.  “Their sales are up 6 percent year-over-year, and this company returns 40 percent of their equity.”

He had praise for Holly

“Holly Corporation is a refiner,” he explained.  “Their earnings are going to increase 100 percent in December 2009.”

Also on his list is transportation holding company Arkansas Best

“Down 25 percent from their 52-week high…and the mean of nine analysts are looking for earnings

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