Stock Market News & Stocks to Watch from StraightStocks » Las Vegas http://www.straightstocks.com Leading Stock Market News, Opinions and Commentary Thu, 26 Nov 2009 04:30:56 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Home Prices Continue to Rise – Analyst Blog http://www.straightstocks.com/stock-watch/home-prices-continue-to-rise-analyst-blog/ http://www.straightstocks.com/stock-watch/home-prices-continue-to-rise-analyst-blog/#comments Tue, 24 Nov 2009 18:44:14 +0000 Dirk Van Dijk http://www.zacks.com/stock/news/27604/Home+Prices+Continue+to+Rise+-+Analyst+Blog This morning the S&P Case-Schiller index was released. The Composite 20 index (C-20), which covers 20 of the largest metropolitan areas in the country rose by 0.27% on a seasonally adjusted basis (home prices are seasonal, so the adjusted data is what you should be looking at -- most of the press makes a mistake by focusing on the unadjusted data, thus these figures might vary from what you read elsewhere). That was the fourth straight increase. The Composite 10 (C-10) index, which is a subset of the Composite 20, but which has a longer history, posted a 0.36% increase for the month.

On a year over year basis, the C-20 is down by 9.39% while the C-10 is down 8.53%. While it was an increase, it was a smaller one than was expected. The consensus of economists was looking for a C-20 year-over-year decline of just 9.10%. The data is for September, not October like most of the data that has come out recently.

The country was roughly split between areas where home prices increased during the month and areas where housing values continue to decline. Eleven metropolitan areas posted increases and nine suffered declines. Some of the areas with the biggest increases in home prices were a bit of a surprise.

In California, San Francisco saw the largest monthly increase of any city, enjoying a 1.71% rise. It was one of the areas that was considered "bubble central," but has started to stage a comeback. Over the last year, prices in the City by the Bay are down 7.85%. Similarly, San Diego posted a 1.05% increase for the month, and it is now down just 5.72% year over year. Long-depressed Detroit saw prices increase by 1.25% for the month, although on a year-over-year basis, home prices are still down by 19.26%. The other areas that saw monthly increases of over 1.0% were the Twin Cities, up 1.31%, and Chicago, up 1.11%.

On the negative side, the worst-hit city was Cleveland, which was down 1.20% for the month, although it is actually among the healthiest cities on a year-over-year basis with home prices down just 3.880%. Then again, the housing bubble was not centered on the beaches of Lake Erie, it was centered on the beaches of Southern California and Florida.

Las Vegas, which is the city that has been hit the hardest by falling home prices overall, continued to see prices fall, down another 1.19% for the month, and off 28.63% from a year ago. From the peak, home prices are down 55.4%. The only other city that comes close, to that cumulative decline is Phoenix, down 52.0%.

Also keep in mind that the home price declines had lasted for far more than just a year. The graph below (from http://www.calculatedriskblog.com/) shows the cumulative decline from the peak pricing, which was hit in April of 2006 for both of the composite indexes, but is shown in the graph from each individual city peak. It breaks down the cumulative decline by time period, with the blue bar showing how much home prices fell through the end of 2007, yellow showing where things stood at the end of 2008, and blue indicating how far the city is now off its peak. Thus if the orange bar is shorter than the yellow bar, it means that city has actually seen home prices rise so far this year.

It is encouraging to see home prices rise. If this continues, some of the people in underwater houses (meaning with a mortgage more than the value of the house) might just see the flood recede and regain some positive equity in the house. This would greatly reduce the number of foreclosures in the future. It would make it an economically rational thing for people to pay their mortgages again. As it stands today in big areas of the country, it isn’t.

As a result, mortgage delinquencies have been skyrocketing, and eventually those delinquencies will lead to foreclosures. That could reignite a vicious circle, where the foreclosed houses flood the market, once again depressing prices, which causes more people to think there are better places to put their money than paying their mortgages.

Rising home prices have the potential to turn that into a virtuous cycle. To the extent that happens, it has very positive implications for the entire mortgage complex, from the big banks like Bank of America (BAC) to the mortgage insurance firms like MGIC (MTG) to the wards of the state, Fannie (FNM) and Freddie (FRE).

However, I fear that the increase in home prices is only temporary. That it is the product of extraordinary government efforts to prop up home prices, and that those efforts can not be sustained forever. These include the tax credit (recently expanded to include move up buyers), which is scheduled to end at the end of April, and the Fed’s program of buying up $1.25 Trillion in mortgage-backed paper to manipulate mortgage rates lower. They should finish up their purchases by the end of March.

The FHA has also played a huge role in propping up the market, making far more loans than it ever has before, and only requiring down-payments of 3.5%. People can even use the tax credit for their down-payment. The FHA’s reserves are already dangerously low, and the delinquencies on the loans they insure are skyrocketing, particularly for mortgages it issued in 2007 and 2008. This year’s loans have not really had time to go bad yet. The FHA may end up going the way of Fannie and Freddie and require a massive federal bailout.

All in all, the increase in home prices is good news, but it is coming with a big price from the Federal Treasury and may end up being ephemeral. The risk of a renewed downturn in the second quarter of 2010 is very big. If that were to occur, it would mean more pain for the mortgage complex.



Dirk van Dijk, CFA is the Chief Equity Strategist for Zacks.com. With more than 25 years investment experience he has become a popular commentator appearing in the Wall Street Journal and on CNBC. Dirk is also the Editor in charge of the market-beating Zacks Strategic Investor service.
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]]> http://www.straightstocks.com/stock-watch/home-prices-continue-to-rise-analyst-blog/feed/ 0 MetroPCS Upgraded to Neutral – Analyst Blog http://www.straightstocks.com/stock-watch/metropcs-upgraded-to-neutral-analyst-blog/ http://www.straightstocks.com/stock-watch/metropcs-upgraded-to-neutral-analyst-blog/#comments Tue, 24 Nov 2009 16:00:11 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/27577/MetroPCS+Upgraded+to+Neutral+-+Analyst+Blog We upgrade our recommendation for MetroPCS Communications (PCS) to Neutral following the company’s better-than-expected operating results in the last quarter. Reported earnings have outpaced the Zacks Consensus Estimate fueled by healthy revenue growth across the company’s Core and Northeast markets. MetroPCS is benefiting from its new unlimited international calling plan which is driving revenue per user. 

MetroPCS remains a leading low-cost service provider in the unlimited prepaid market in the US and will continue to benefit from the ongoing wireline replacement trend. The company is increasingly focused on strengthening its position in the unlimited prepaid segment by broadening its portfolio of discounted service plans.

MetroPCS has initiated several steps to counter intense competition and drive subscriber accretion. The company is rolling out new product/services, upgrading network infrastructure and entering additional markets for growth. 

The company is currently enjoying meaningful traction in the Northeast region, which is evidenced by healthy subscriber growth. Gains from the Northeastern markets continue to offset declines in Core markets (including Atlanta, Dallas, Las Vegas, Los Angeles and San Francisco). A significant part of MetroPCS’ network infrastructure deployment initiatives is centered on the lucrative Northeast region. 

MetroPCS has joined the league of the top-tier US wireless carriers such as Verizon (VZ) and AT&T (T) as the company recently declared vendors for its 4G Long Term Evolution (LTE) wireless broadband service. MetroPCS has selected Ericsson (ERIC) as network infrastructure vendor and Samsung as the supplier of LTE enabled handsets. 

The company plans to launch 4G LTE service and several dual-mode smartphones across its metropolitan markets in second-half 2010. The ultra high bandwidth multimedia data applications supported by the 4G LTE network will boost revenue per user through increased minutes of use. 

However, despite these encouraging growth prospects, MetroPCS contends with subscriber retention problems as customer accretion continues to decelerate on a sequential basis due to intense competition in the prepaid wireless segment. The company is experiencing sustained customer attrition in its legacy Core markets. 

Churn (customer switch) level remains high due to increased customer defection as the company’s larger peers in the prepaid market such as Sprint Nextel (S) and America Movil’s (AMX) Tracfone continue to lure subscribers with competitive service plans and better product offerings.
 
While expansion into the Northeastern markets is expected to drive future growth, we feel that associated capital expenditures will strain balance sheet moving forward.
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]]> http://www.straightstocks.com/stock-watch/metropcs-upgraded-to-neutral-analyst-blog/feed/ 0 Sands China Raises $2.5B in IPO – Analyst Blog http://www.straightstocks.com/stock-watch/sands-china-raises-2-5b-in-ipo-analyst-blog/ http://www.straightstocks.com/stock-watch/sands-china-raises-2-5b-in-ipo-analyst-blog/#comments Mon, 23 Nov 2009 21:57:51 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/27555/Sands+China+Raises+%242.5B+in+IPO+-+Analyst+Blog Las Vegas Sands (LVS) Macau unit, Sand China raised $2.5 billion through its Hong Kong initial public offering (IPO). The company has priced the IPO for 1.87 billion shares at HK$10.38 per share, the low end of the expected HK$10.38-HK$13.88 range.

The proceeds from this offering, combined with $1.75 billion in bank financing, would aid Sands China to restart its Macau's Cotai Strip construction projects. Last year, the company was forced to halt its casino expansion projects in Macau due to financial constraints, at which time it laid off 11,000 workers.

The IPO is being handled by five investment banks. Citigroup (C) and Goldman Sachs (GS) are the joint global coordinators for the offer while Barclays PLC (BCS), BNP Paribas SA and UBS AG (UBS) are the underwriters.

Earlier, in October, rival company Wynn Resorts (WYNN) had held its IPO for its Macau assets. Wynn Macau has experienced a strong debut in the Hong Kong stock exchange. Wynn sold 1.25 billion shares or a 25% stake in its Macau business. However, the shares of Wynn Macau are now trading at a discount to the offering price.

Macau is the only Chinese city where gambling is legal. It has become an attractive destination for casino companies such as Las Vegas Sands, Wynn Resorts and MGM Mirage (MGM), which are investing billions for expansion on this island. Macau has survived the economic downturn relatively well.

Macau has generated HK$105.6 billion ($13.5 billion) of gross gaming revenue in 2008, more than double the revenue generated by the Las Vegas strip. Also, visa restrictions had recently been slackened by Beijing to allow mainland tourists to visit Macau once a month rather than twice a year.

The capital bolstering initiatives augur well for Las Vegas Sands, which has a robust development pipeline, with projects in Macau, Las Vegas, Singapore and Pennsylvania.
Read the full analyst report on "LVS"
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]]> http://www.straightstocks.com/stock-watch/sands-china-raises-2-5b-in-ipo-analyst-blog/feed/ 0 CRWE, Crown Equity Holdings, Inc. Entered Into Agreement With TTNews of Taiwan http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-entered-into-agreement-with-ttnews-of-taiwan/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-entered-into-agreement-with-ttnews-of-taiwan/#comments Tue, 17 Nov 2009 19:10:14 +0000 Dr. Stock Pick http://drstockpick.com/?p=4824 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-entered-into-agreement-with-ttnews-of-taiwan/feed/ 0 HCEI, Healthy Coffee’s Short Term Goal of $1 Million a Month in Sales http://www.straightstocks.com/stock-watch/hcei-healthy-coffee%e2%80%99s-short-term-goal-of-1-million-a-month-in-sales/ http://www.straightstocks.com/stock-watch/hcei-healthy-coffee%e2%80%99s-short-term-goal-of-1-million-a-month-in-sales/#comments Tue, 17 Nov 2009 17:36:16 +0000 Dr. Stock Pick http://drstockpick.com/?p=4820 http://www.straightstocks.com/stock-watch/hcei-healthy-coffee%e2%80%99s-short-term-goal-of-1-million-a-month-in-sales/feed/ 0 EV Innovations, Inc. (EVII.OB) Becomes Friend to the Environment with the Conversion of its First Lithium-Ion Fully Electric Truck http://www.straightstocks.com/investing-lessons/ev-innovations-inc-evii-ob-becomes-friend-to-the-environment-with-the-conversion-of-its-first-lithium-ion-fully-electric-truck/ http://www.straightstocks.com/investing-lessons/ev-innovations-inc-evii-ob-becomes-friend-to-the-environment-with-the-conversion-of-its-first-lithium-ion-fully-electric-truck/#comments Tue, 17 Nov 2009 14:08:35 +0000 QualityStocks http://Blog.QualityStocks.net/?p=19326 http://www.straightstocks.com/investing-lessons/ev-innovations-inc-evii-ob-becomes-friend-to-the-environment-with-the-conversion-of-its-first-lithium-ion-fully-electric-truck/feed/ 0 November 16th CEOcast Weekly Newsletter http://www.straightstocks.com/investing-lessons/november-16th-ceocast-weekly-newsletter/ http://www.straightstocks.com/investing-lessons/november-16th-ceocast-weekly-newsletter/#comments Mon, 16 Nov 2009 20:21:30 +0000 QualityStocks http://Blog.QualityStocks.net/?p=19352 http://www.straightstocks.com/investing-lessons/november-16th-ceocast-weekly-newsletter/feed/ 0 HZHI, HCEI – DrStockPick.com Stocks to Watch! http://www.straightstocks.com/stock-watch/hzhi-hcei-drstockpick-com-stocks-to-watch/ http://www.straightstocks.com/stock-watch/hzhi-hcei-drstockpick-com-stocks-to-watch/#comments Mon, 16 Nov 2009 01:15:28 +0000 Dr. Stock Pick http://drstockpick.com/?p=4766 http://www.straightstocks.com/stock-watch/hzhi-hcei-drstockpick-com-stocks-to-watch/feed/ 0 HCEI, Healthy Coffee to Have Coffee Tasting Booth in Las Vegas With Live Audience of 8,000 During the “Wowowee Show,” the No. 1 Rated Filipino TV Show in the World http://www.straightstocks.com/stock-watch/hcei-healthy-coffee-to-have-coffee-tasting-booth-in-las-vegas-with-live-audience-of-8000-during-the-%e2%80%9cwowowee-show%e2%80%9d-the-no-1-rated-filipino-tv-show-in-the-world/ http://www.straightstocks.com/stock-watch/hcei-healthy-coffee-to-have-coffee-tasting-booth-in-las-vegas-with-live-audience-of-8000-during-the-%e2%80%9cwowowee-show%e2%80%9d-the-no-1-rated-filipino-tv-show-in-the-world/#comments Sat, 14 Nov 2009 06:44:00 +0000 Dr. Stock Pick http://drstockpick.com/?p=4764 http://www.straightstocks.com/stock-watch/hcei-healthy-coffee-to-have-coffee-tasting-booth-in-las-vegas-with-live-audience-of-8000-during-the-%e2%80%9cwowowee-show%e2%80%9d-the-no-1-rated-filipino-tv-show-in-the-world/feed/ 0 CRWE, Crown Equity Holdings, Inc. Entered Into Letter of Intent with DJ Toys and Yana http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-entered-into-letter-of-intent-with-dj-toys-and-yana/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-entered-into-letter-of-intent-with-dj-toys-and-yana/#comments Fri, 13 Nov 2009 15:41:57 +0000 Dr. Stock Pick http://drstockpick.com/?p=4742 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-entered-into-letter-of-intent-with-dj-toys-and-yana/feed/ 0 What could be worse than a housing bust? http://www.straightstocks.com/investing-lessons/what-could-be-worse-than-a-housing-bust/ http://www.straightstocks.com/investing-lessons/what-could-be-worse-than-a-housing-bust/#comments Fri, 13 Nov 2009 13:18:09 +0000 Contrarian Profits http://www.contrarianprofits.com/?p=21024 http://www.straightstocks.com/investing-lessons/what-could-be-worse-than-a-housing-bust/feed/ 0 SmallCapSentinel.com: Solar Solutions in Arizona http://www.straightstocks.com/investing-lessons/smallcapsentinel-com-solar-solutions-in-arizona/ http://www.straightstocks.com/investing-lessons/smallcapsentinel-com-solar-solutions-in-arizona/#comments Thu, 12 Nov 2009 15:17:32 +0000 Stuart T. Smith http://smallcapvoice.com/blog/?p=3059 http://www.straightstocks.com/investing-lessons/smallcapsentinel-com-solar-solutions-in-arizona/feed/ 0 Green Investor News – SmallCapSentinel.com: Solar Solutions in Arizona http://www.straightstocks.com/investing-lessons/green-investor-news-smallcapsentinel-com-solar-solutions-in-arizona/ http://www.straightstocks.com/investing-lessons/green-investor-news-smallcapsentinel-com-solar-solutions-in-arizona/#comments Thu, 12 Nov 2009 13:00:00 +0000 Dawn Van Zant http://www.investorideas.com/Companies/ViewDocument.asp?ID=5902 http://www.straightstocks.com/investing-lessons/green-investor-news-smallcapsentinel-com-solar-solutions-in-arizona/feed/ 0 Xcellink Signs Agreement With Technology Giant 3i Infotech for iPhone Integration http://www.straightstocks.com/investing-lessons/xcellink-signs-agreement-with-technology-giant-3i-infotech-for-iphone-integration/ http://www.straightstocks.com/investing-lessons/xcellink-signs-agreement-with-technology-giant-3i-infotech-for-iphone-integration/#comments Tue, 10 Nov 2009 15:06:08 +0000 Stuart T. Smith http://smallcapvoice.com/blog/?p=3021 http://www.straightstocks.com/investing-lessons/xcellink-signs-agreement-with-technology-giant-3i-infotech-for-iphone-integration/feed/ 0 DrStockPick.com Stock Report! 11/09/09, PWRM, NTCT, RPFG, SEE, EFOI, LVS http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-110909-pwrm-ntct-rpfg-see-efoi-lvs/ http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-110909-pwrm-ntct-rpfg-see-efoi-lvs/#comments Mon, 09 Nov 2009 19:32:37 +0000 Dr. Stock Pick http://drstockpick.com/?p=4632 http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-110909-pwrm-ntct-rpfg-see-efoi-lvs/feed/ 0 SYNW, Sync2 Networks Opens Ventures Incubator Facility http://www.straightstocks.com/stock-watch/synw-sync2-networks-opens-ventures-incubator-facility/ http://www.straightstocks.com/stock-watch/synw-sync2-networks-opens-ventures-incubator-facility/#comments Tue, 03 Nov 2009 13:56:26 +0000 Dr. Stock Pick http://drstockpick.com/?p=4438 http://www.straightstocks.com/stock-watch/synw-sync2-networks-opens-ventures-incubator-facility/feed/ 0 Bally Meets Expectations – Analyst Blog http://www.straightstocks.com/stock-watch/bally-meets-expectations-analyst-blog/ http://www.straightstocks.com/stock-watch/bally-meets-expectations-analyst-blog/#comments Fri, 30 Oct 2009 20:37:45 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/26705/Bally+Meets+Expectations+-+Analyst+Blog Gaming equipment maker Bally Technologies Inc. (BYI) posted fiscal 2010 first-quarter results yesterday after the closing bell. The company recorded net income of $30.6 million, or 53 cents per share, compared to $30.3 million, or 52 cents in the year-ago period. The results matched the Zacks Consensus Estimate.

Bally Technologies is a leading gaming systems company, which designs, manufactures, operates and distributes advanced gaming devices, systems and technology solutions worldwide. The company's product line includes reel-spinning slot machines, video slots, wide-area progressives and class II, lottery and central determination games and platforms. The company also offers casino management, slot accounting, bonusing, cashless and table-management solutions and also operates the Rainbow Casino in Vicksburg, Mississippi.

The Las Vegas-based company’s sales slipped 17.2% year over year to $196.5 million. The decline was the results of weakness in North American gaming machine replacement market as customers continue to slash discretionary spending.

In terms of segments, Gaming Equipment plunged 42.2% year over year to $62 million as new gaming device sales slipped 40.3% to 3,936 units, partially offset by a marginal 0.4% rise in average selling price (ASP) to $14,115. Gaming Operations expanded 5.2% to $71.3 million, primarily driven by higher sales of premium revenue units and increased revenue per unit. The Systems segment rose 3.3% to $54 million driven by growth in maintenance and services revenue.

Bally’s gross margin (excluding casino operations) grew 580 basis points (bps) year over year to 62.9%, mainly due to higher ASP, lower material costs and decreased inventory write-downs in the Gaming Equipment segment. The margin also benefited from growth in rental, participation and license revenue related to Gaming Operations segment.

Total operating income dipped 4.8% year over year to $50.9 million, while operating margin grew 340 bps to 25.9%. The operating margin growth was driven by improved gross margin, partially offset by a 150 bps increase in research and development as a percentage of sales to 9.9%.

During the quarter, the company generated free cash flow of $36.4 million, compared to $21.2 million in the year-ago quarter. The growth in free cash flow was primarily the result of healthy earnings performance coupled with liquidation of inventories, which decreased by 34.6% year over year to $52.9 million at the end of the quarter. Bally also stated that it reduced debt by $6 million and bought back 392,000 shares of its common stock for about $15 million during the quarter.

Meanwhile, Bally raised its full fiscal 2010 guidance and now expects earnings to range between $2.30 and $2.55 per share, compared to the previous forecast of $2.25 to $2.50. The guidance is in-line with the Zacks Consensus Estimate of $2.42 per share, which has increased by 2 cents over the past month as 2 of 11 covering analysts raised expectations.
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]]> http://www.straightstocks.com/stock-watch/bally-meets-expectations-analyst-blog/feed/ 0 CSRH, Consorteum Holdings Inc. Launches Alternative Mail-In Rebate Program for Manufacturers and Retailers http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-launches-alternative-mail-in-rebate-program-for-manufacturers-and-retailers-2/ http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-launches-alternative-mail-in-rebate-program-for-manufacturers-and-retailers-2/#comments Wed, 28 Oct 2009 13:28:36 +0000 Dr. Stock Pick http://drstockpick.com/?p=4297 http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-launches-alternative-mail-in-rebate-program-for-manufacturers-and-retailers-2/feed/ 0 CSRH, Consorteum Holdings Inc. Launches Alternative Mail-In Rebate Program for Manufacturers and Retailers http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-launches-alternative-mail-in-rebate-program-for-manufacturers-and-retailers/ http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-launches-alternative-mail-in-rebate-program-for-manufacturers-and-retailers/#comments Tue, 27 Oct 2009 21:40:17 +0000 Dr. Stock Pick http://drstockpick.com/?p=4285 http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-launches-alternative-mail-in-rebate-program-for-manufacturers-and-retailers/feed/ 0 Wynn Surpasses Expectations – Analyst Blog http://www.straightstocks.com/stock-watch/wynn-surpasses-expectations-analyst-blog/ http://www.straightstocks.com/stock-watch/wynn-surpasses-expectations-analyst-blog/#comments Tue, 27 Oct 2009 17:45:27 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/26498/Wynn+Surpasses+Expectations+-+Analyst+Blog Wynn Resorts Limited (WYNN) today reported third-quarter earnings of 28 cents per share. Adjusted earnings were 33 cents. The results are ahead of the Zacks Consensus Estimate of 14 cents. The company had earned 49 cents (adjusted earnings of 62 cents) in the year-ago quarter.

Net revenues were $773.1 million compared to $769.2 million in the prior-year period. Results were driven by the opening of Encore at Wynn Las Vegas in Dec. 2008. However, due to a challenging economic environment, consumers continued to curb their gambling.

Casino revenues in Las Vegas were flat year-over-year, while non-casino revenues increased 18% from the prior-year period, driven primarily by higher hotel and food and beverage revenues from Encore.

Though hotel revenues were up as a result of the addition of 2,034 suites at Encore, we note that average daily rate, occupancy levels and revenue per available room (RevPAR) were all down in the quarter.

Average daily room rate decreased to $210 from $272, while occupancy fell to 83.9% from 96.1% during the prior year period. As a result, RevPAR decreased 32.6% year-over-year to $176.

Net revenues at Macau were $448.5 million, down 5.5% year-over-year due to the drop in table games turnover in both the VIP and mass market segments.

Average daily rate at Wynn Macau was $263, down from $272 in the year-ago period. Occupancy improved to 89.2% from 86.2% during the prior-year period. RevPAR was $235, slightly above 2008 levels of $234.

Wynn Macau raised $1.63 billion earlier in October with an initial public offering on the Hong Kong Stock Exchange.

Wynn Encore Macau, the company’s second resort in Macau, is scheduled to open in the first half of 2010. The company has budgeted around $650 million for the construction of this resort. As of Sept. 30, 2009, the company incurred $375.6 million associated with the construction of Encore at Wynn Macau.

Total cash balance on Sept. 30, 2009, was $1.3 billion. Total debt outstanding at the end of the quarter was $4.2 billion, including approximately $2.7 billion of Wynn Las Vegas debt and $1.5 billion of Wynn Macau debt.

While we remain encouraged with Wynn’s strong brand name, balance sheet and its ability to execute in a difficult operating environment, we think the company's limited diversity remains one of its key short-term risks. Also, the challenged economic factors will compel customers to gamble less.
Read the full analyst report on "WYNN"
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]]> http://www.straightstocks.com/stock-watch/wynn-surpasses-expectations-analyst-blog/feed/ 0 DrStockPick.com Stock Report! 10/26/09, ADI, CSRH, IBM, PRFT, HUM, RLH http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-102609-adi-csrh-ibm-prft-hum-rlh/ http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-102609-adi-csrh-ibm-prft-hum-rlh/#comments Mon, 26 Oct 2009 18:30:38 +0000 Dr. Stock Pick http://drstockpick.com/?p=4256 http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-102609-adi-csrh-ibm-prft-hum-rlh/feed/ 0 DrStockPick.com Weekend Update! PSFT, PWRM, CSRH, CVAT, AQNM http://www.straightstocks.com/stock-watch/drstockpick-com-weekend-update-psft-pwrm-csrh-cvat-aqnm/ http://www.straightstocks.com/stock-watch/drstockpick-com-weekend-update-psft-pwrm-csrh-cvat-aqnm/#comments Sat, 24 Oct 2009 16:17:45 +0000 Dr. Stock Pick http://drstockpick.com/?p=4226 http://www.straightstocks.com/stock-watch/drstockpick-com-weekend-update-psft-pwrm-csrh-cvat-aqnm/feed/ 0 LVS Plans Hong Kong IPO – Analyst Blog http://www.straightstocks.com/stock-watch/lvs-plans-hong-kong-ipo-analyst-blog/ http://www.straightstocks.com/stock-watch/lvs-plans-hong-kong-ipo-analyst-blog/#comments Mon, 19 Oct 2009 18:27:38 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/26107/LVS+Plans+Hong+Kong+IPO+-+Analyst+Blog Las Vegas Sands Corporation (LVS) is planning for a Hong Kong initial public offering (IPO) for its Macau assets next month. The company intends to raise up to $2.5 billion through the IPO. The offering is intended to complete in about four weeks after receiving regulatory approval for offering and listing.

In September, Las Vegas announced the infusion of up to $600 million of capital through the sale of exchangeable bonds to strengthen up its balance sheet. The bonds will be compulsorily exchanged into common stock of its Macau unit after the unit's pending IPO on the Hong Kong Stock Exchange.

Rival company Wynn Resorts (WYNN) held its IPO for its Macau assets earlier in October. Wynn Macau has experienced a strong debut in the Hong Kong stock exchange. Wynn sold 1.25 billion shares or a 25% stake in its Macau business, which represented Hong Kong's second-biggest IPO of the year.

Other rivals -- MGM Mirage (MGM) and its Macau, China, casino partner, businesswoman/tycoon Pansy Ho -- are also planning to expand their casino operations in Macau and are contemplating an IPO as well.

Macau has become an attractive destination for casino companies such as Las Vegas Sands, Wynn Resorts and MGM, who are investing billions for expansion on this island. Macau has survived the economic downturn relatively well. It has generated HK$105.6 billion ($13.5 billion) of gross gaming revenue in 2008, more than double the revenue generated by the Las Vegas strip. Also, visa restrictions had recently been lessened by Beijing to allow mainland tourists to visit Macau once a month rather than twice a year.

However, recently, government officials of Macau met with six major casino operators and concluded that limitless expansion of the Macau gambling sector may be harmful to the society. Significant expansion of the gambling business in Macau has encouraged corruption, addiction and prostitution in that area.

The government is considering regulations like raising the entry age limit for casinos to 21 years from 18 years, limiting the number of tables per casino and modifying zoning laws to compel slot machine halls away from residential areas and into commercial zones.

We think that such regulations will pose a threat to casino operators in Macau, though oversupply may be limited in the region. Pending further development, we continue to hold a Neutral recommendation on the shares of Las Vegas Sands, Wynn Resorts and MGM Mirage.
Read the full analyst report on "LVS"
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Read the full analyst report on "MGM"
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]]> http://www.straightstocks.com/stock-watch/lvs-plans-hong-kong-ipo-analyst-blog/feed/ 0 Consorteum Holdings Inc. Targets $80 Billion Market Opportunity: Launches New Initiative to Make Check Cashing Easy and Convenient http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-targets-80-billion-market-opportunity-launches-new-initiative-to-make-check-cashing-easy-and-convenient/ http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-targets-80-billion-market-opportunity-launches-new-initiative-to-make-check-cashing-easy-and-convenient/#comments Wed, 14 Oct 2009 12:10:14 +0000 Dr. Stock Pick http://drstockpick.com/?p=3990 http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-targets-80-billion-market-opportunity-launches-new-initiative-to-make-check-cashing-easy-and-convenient/feed/ 0 Consorteum Holdings Inc. Announces Release of First 10-K Year End Filing http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-announces-release-of-first-10-k-year-end-filing/ http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-announces-release-of-first-10-k-year-end-filing/#comments Tue, 13 Oct 2009 23:26:24 +0000 Dr. Stock Pick http://drstockpick.com/?p=3988 http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-announces-release-of-first-10-k-year-end-filing/feed/ 0 DrStockPick.com Stock Report! 10/13/09, CVAT, MDT, TXT, NENG, CPWR, ETH http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-101309-cvat-mdt-txt-neng-cpwr-eth/ http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-101309-cvat-mdt-txt-neng-cpwr-eth/#comments Tue, 13 Oct 2009 19:28:19 +0000 Dr. Stock Pick http://drstockpick.com/?p=3982 http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-101309-cvat-mdt-txt-neng-cpwr-eth/feed/ 1 Macau Casino Growth Threatened? – Analyst Blog http://www.straightstocks.com/stock-watch/macau-casino-growth-threatened-analyst-blog/ http://www.straightstocks.com/stock-watch/macau-casino-growth-threatened-analyst-blog/#comments Tue, 13 Oct 2009 14:22:53 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/25832/Macau+Casino+Growth+Threatened%3F+-+Analyst+Blog The explosive growth of the casino industry in Macau may be threatened as the government of Macau − the Chinese gambling Mecca − is considering ways to impose restrictions on age, number of tables and locations of casinos.

Yesterday, government officials of Macau met with six major casino operators including Las Vegas Sands (LVS) and Wynn Resorts Ltd. (WYNN) and a casino jointly operated by MGM Mirage (MGM) and local businesswoman/tycoon Pansy Ho, concluding that limitless expansion of the Macau gambling sector may be harmful to the society. Significant expansion of the gambling business in Macau has encouraged corruption, addiction and prostitution in that area.

The government is considering regulations like raising the entry age limit for casinos to 21 years from 18 years, limiting the number of tables per casino and modifying zoning laws to compel slot machine halls away from residential areas and into commercial zones.

Macau has become an attractive destination for the casino companies such as Las Vegas Sands, Wynn Resorts and MGM, who are investing billions for expansion on this island. Macau has survived the economic downturn relatively well. It has generated HK$105.6 billion ($13.5 billion) of gross gaming revenue in 2008, more than double the revenue generated by the Las Vegas strip. Also, visa restrictions had recently been lessened by Beijing to allow mainland tourists to visit Macau once a month rather than twice a year.

Last week, Wynn Macau has experienced a strong debut in the Hong Kong stock exchange. Wynn sold 1.25 billion shares or a 25% stake in its Macau business, which represented the Hong Kong's second-biggest IPO of the year. Las Vegas Sands is also planning an IPO of its Macau assets in late November or early December.

We think that such regulations will pose a threat to casino operators in Macau , though oversupply may be limited in the region. Pending further development, we continue to hold a Neutral recommendation on the shares of Las Vegas Sands, Wynn Resorts and MGM Mirage.
Read the full analyst report on "LVS"
Read the full analyst report on "MGM"
Read the full analyst report on "WYNN"
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]]> http://www.straightstocks.com/stock-watch/macau-casino-growth-threatened-analyst-blog/feed/ 0 DrStockPick.com Stock Report! 10/12/09, IFLO, PGI, BGCP, CAG, HERO, SRCL http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-101209-iflo-pgi-bgcp-cag-hero-srcl/ http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-101209-iflo-pgi-bgcp-cag-hero-srcl/#comments Mon, 12 Oct 2009 15:51:02 +0000 Dr. Stock Pick http://drstockpick.com/?p=3953 http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-101209-iflo-pgi-bgcp-cag-hero-srcl/feed/ 0 Sprint Expands 4G WiMax Footprint – Analyst Blog http://www.straightstocks.com/stock-watch/sprint-expands-4g-wimax-footprint-analyst-blog/ http://www.straightstocks.com/stock-watch/sprint-expands-4g-wimax-footprint-analyst-blog/#comments Thu, 08 Oct 2009 19:35:09 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/25680/Sprint+Expands+4G+WiMax+Footprint+-+Analyst+Blog
Sprint Nextel (S) has further expanded its fourth-generation (4G) wireless broadband network coverage to ten more U.S. markets. The third largest US carrier has officially launched commercial services in Salem (Oregon), Milledgeville (Georgia) and Texas cities of Amarillo , Killeen-Temple, Corpus Christi , Lubbock , Waco , Wichita Falls , Abilene and Midland-Odessa. This follows Sprint’s 4G service launches in Atlanta, Portland and Las Vegas in August 2009.
 
Sprint offers its 4G service under the "Sprint 4G" brand and leverages the WiMax (a mobile broadband technology) network operated by Clearwire Corp. (CLWR) in which it holds 51% stake. The 4G WiMax network offers up to 10 times faster network speeds than the existing 3G deployments. The download speeds enabled by the 4G WiMax network averages 3-6 megabits per second (Mbps) with peak speed exceeding 10 Mbps. 
 
Subscribers across the newly launched markets can now enjoy lightning fast mobile broadband experience by paying just $10 per month over their existing 3G wireless data plans. This is enabled by the nation’s first dual-mode (operates on 3G and 4G networks) mobile broadband modem, which was launched by Sprint in December 2008.
 
Sprint made history by becoming the first U.S. carrier to deploy 4G WiMax mobile broadband services in the U.S with a commercial launch in Baltimore in October 2008. This was followed by subsequent launches in five more cities of Chicago, Dallas, Philadelphia, Seattle and Honolulu.
 
The company plans to continue the aggressive network deployments through 2010 with 4G service launches in key US markets such as Boston, Houston, New York, San Francisco and Washington, D.C.
 
Sprint’s 4G WiMax initiative is a response to its major competitors Verizon (VZ) and AT&T (T), who are preparing to deploy their own advanced wireless broadband networks in the 2010-2011 timeframe based on the emerging 4G wireless standard known as Long-Term Evaluation (“LTE").
 
The 4G WiMax service is expected to play a critical role for Sprint’s survival in the wireless market as the company continues to lose market share to its larger rivals. Additionally, WiMax is expected facilitate the deployment of broadband in rural areas where the expansion of traditional fiber-based networks may not be feasible.
Read the full analyst report on "S"
Read the full analyst report on "CLWR"
Read the full analyst report on "VZ"
Read the full analyst report on "T"
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]]> http://www.straightstocks.com/stock-watch/sprint-expands-4g-wimax-footprint-analyst-blog/feed/ 0 WYN, CBAI, VSPC, DrStockPick.com Watch List! for Thursday October 8, 2009, Wyndham Worldwide Corp., Cord Blood America Inc., CBAI.OB and VIASPACE Inc., VSPC.OB http://www.straightstocks.com/stock-watch/wyn-cbai-vspc-drstockpick-com-watch-list-for-thursday-october-8-2009-wyndham-worldwide-corp-cord-blood-america-inc-cbai-ob-and-viaspace-inc-vspc-ob/ http://www.straightstocks.com/stock-watch/wyn-cbai-vspc-drstockpick-com-watch-list-for-thursday-october-8-2009-wyndham-worldwide-corp-cord-blood-america-inc-cbai-ob-and-viaspace-inc-vspc-ob/#comments Thu, 08 Oct 2009 04:43:08 +0000 Dr. Stock Pick http://drstockpick.com/?p=3885 http://www.straightstocks.com/stock-watch/wyn-cbai-vspc-drstockpick-com-watch-list-for-thursday-october-8-2009-wyndham-worldwide-corp-cord-blood-america-inc-cbai-ob-and-viaspace-inc-vspc-ob/feed/ 0 Letter to Shareholders from Crown Equity Holdings, Inc. President Kenneth Bosket http://www.straightstocks.com/stock-watch/letter-to-shareholders-from-crown-equity-holdings-inc-president-kenneth-bosket/ http://www.straightstocks.com/stock-watch/letter-to-shareholders-from-crown-equity-holdings-inc-president-kenneth-bosket/#comments Wed, 07 Oct 2009 18:13:47 +0000 Dr. Stock Pick http://drstockpick.com/?p=3874 http://www.straightstocks.com/stock-watch/letter-to-shareholders-from-crown-equity-holdings-inc-president-kenneth-bosket/feed/ 0 Muscle Flex(R) to Join the Official Latin GRAMMY(R) Awards Talent Gift Lounge November 3-5 in Las Vegas to Showcase Its Muscle Flex VATA Brasil(TM) Sports Active Wear Collection to Coincide With the Release of the BUDDY Tablet CADDY(TM) and Beagle StepFit(TM) Commercial Launches http://www.straightstocks.com/investing-lessons/muscle-flexr-to-join-the-official-latin-grammyr-awards-talent-gift-lounge-november-3-5-in-las-vegas-to-showcase-its-muscle-flex-vata-brasiltm-sports-active-wear-collection-to-coincide-with-the/ http://www.straightstocks.com/investing-lessons/muscle-flexr-to-join-the-official-latin-grammyr-awards-talent-gift-lounge-november-3-5-in-las-vegas-to-showcase-its-muscle-flex-vata-brasiltm-sports-active-wear-collection-to-coincide-with-the/#comments Tue, 06 Oct 2009 14:14:35 +0000 Stuart T. Smith http://smallcapvoice.com/blog/?p=2674 http://www.straightstocks.com/investing-lessons/muscle-flexr-to-join-the-official-latin-grammyr-awards-talent-gift-lounge-november-3-5-in-las-vegas-to-showcase-its-muscle-flex-vata-brasiltm-sports-active-wear-collection-to-coincide-with-the/feed/ 0 Muscle Flex, Inc. (MFLI.PK) to Join the Official Latin GRAMMY(R) Awards Talent Gift Lounge to Showcase Muscle Flex VATA Brasil(TM) Sports Active Wear Collection http://www.straightstocks.com/investing-lessons/muscle-flex-inc-mfli-pk-to-join-the-official-latin-grammyr-awards-talent-gift-lounge-to-showcase-muscle-flex-vata-brasiltm-sports-active-wear-collection/ http://www.straightstocks.com/investing-lessons/muscle-flex-inc-mfli-pk-to-join-the-official-latin-grammyr-awards-talent-gift-lounge-to-showcase-muscle-flex-vata-brasiltm-sports-active-wear-collection/#comments Tue, 06 Oct 2009 13:14:02 +0000 QualityStocks http://Blog.QualityStocks.net/?p=18325 http://www.straightstocks.com/investing-lessons/muscle-flex-inc-mfli-pk-to-join-the-official-latin-grammyr-awards-talent-gift-lounge-to-showcase-muscle-flex-vata-brasiltm-sports-active-wear-collection/feed/ 0 PFE, PWRM, TXN, CSRH, AA, CVAT, DOW, DrStockPick.com Stock Report! http://www.straightstocks.com/stock-watch/pfe-pwrm-txn-csrh-aa-cvat-dow-drstockpick-com-stock-report/ http://www.straightstocks.com/stock-watch/pfe-pwrm-txn-csrh-aa-cvat-dow-drstockpick-com-stock-report/#comments Tue, 29 Sep 2009 19:11:55 +0000 Dr. Stock Pick http://drstockpick.com/?p=3719 http://www.straightstocks.com/stock-watch/pfe-pwrm-txn-csrh-aa-cvat-dow-drstockpick-com-stock-report/feed/ 0 Sep 29: Home Prices Up – Economic Highlights http://www.straightstocks.com/stock-watch/sep-29-home-prices-up-economic-highlights/ http://www.straightstocks.com/stock-watch/sep-29-home-prices-up-economic-highlights/#comments Tue, 29 Sep 2009 15:15:37 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/25294/Sep+29%3A+Home+Prices+Up+-+Economic+Highlights
The S&P/Case-Shiller 10-City Home Price Index increased by 1.7% in July following an increase of 1.4% in June, a 0.5% increase in May, and a 0.7% decrease in April.  Over the year, the index has fallen by 12.8%.  The S&P/Case-Shiller 20-City Home Price Index increased by 1.6% over the month after increasing 1.4% in June, 0.5% increase in May, and a 0.6% decrease in April.  The index is down by 13.3% over the year.  All 20 metropolitan areas in the index showed improvement over the month, with only Seattle and Las Vegas continuing to show monthly declines, as the rate of annual decline in the indices have diminished since early 2009.  The index is back to fall 2003 levels since falling by 33.5% (10-City) and by 32.6% (20-City) since the indices peaked in the second quarter of 2006.

The Consumer Confidence Index dipped to 53.1 (1985=100) in September after jumping to 54.1% in August from 47.4% in July, although expected to increase to 57.2.  The Present Situation Index decreased to 22.7 from 24.9 from 25.4 last month. The Expectations Index edged down to 73.3 from 73.8 in August.  Consumers outlook of business conditions were less favorable while the short-term outlook was slightly more pessimistic while the labor market outlook was essentially unmoved.


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]]> http://www.straightstocks.com/stock-watch/sep-29-home-prices-up-economic-highlights/feed/ 0 Pro-Tech Industries, Inc. (PTCK.OB) Secures Approximately $6 Million in Additional Contracts for 2009 – 2010 http://www.straightstocks.com/investing-lessons/pro-tech-industries-inc-ptck-ob-secures-approximately-6-million-in-additional-contracts-for-2009-%e2%80%93-2010/ http://www.straightstocks.com/investing-lessons/pro-tech-industries-inc-ptck-ob-secures-approximately-6-million-in-additional-contracts-for-2009-%e2%80%93-2010/#comments Tue, 29 Sep 2009 13:43:20 +0000 QualityStocks http://Blog.QualityStocks.net/?p=18123 http://www.straightstocks.com/investing-lessons/pro-tech-industries-inc-ptck-ob-secures-approximately-6-million-in-additional-contracts-for-2009-%e2%80%93-2010/feed/ 0 CSRH Consorteum Holdings Inc. Accesses Processing Industry’s 75 Billion Annual Payment Transactions http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-accesses-processing-industry%e2%80%99s-75-billion-annual-payment-transactions/ http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-accesses-processing-industry%e2%80%99s-75-billion-annual-payment-transactions/#comments Mon, 28 Sep 2009 13:35:05 +0000 Dr. Stock Pick http://drstockpick.com/?p=3671 http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-accesses-processing-industry%e2%80%99s-75-billion-annual-payment-transactions/feed/ 0 CSRH.OB Consorteum Holdings Inc. New Partnership Provides Competitive Merchant Discount Rates http://www.straightstocks.com/stock-watch/csrh-ob-consorteum-holdings-inc-new-partnership-provides-competitive-merchant-discount-rates/ http://www.straightstocks.com/stock-watch/csrh-ob-consorteum-holdings-inc-new-partnership-provides-competitive-merchant-discount-rates/#comments Fri, 25 Sep 2009 12:05:25 +0000 Dr. Stock Pick http://drstockpick.com/?p=3636 http://www.straightstocks.com/stock-watch/csrh-ob-consorteum-holdings-inc-new-partnership-provides-competitive-merchant-discount-rates/feed/ 0 CSRH Consorteum Holdings Inc. New Partnership Provides Competitive Merchant Discount Rates http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-new-partnership-provides-competitive-merchant-discount-rates/ http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-new-partnership-provides-competitive-merchant-discount-rates/#comments Thu, 24 Sep 2009 15:22:48 +0000 Dr. Stock Pick http://drstockpick.com/?p=3621 http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-new-partnership-provides-competitive-merchant-discount-rates/feed/ 0 Andre Agassi Foundation Includes Muscle Flex, Inc.’s (MFLI.PK) VATA Brasil(TM) Sports Active Wear Line in the Distinctive Assets “Andre Agassi’s 14th Annual Grand Slam for Children” Gift Basket http://www.straightstocks.com/investing-lessons/andre-agassi-foundation-includes-muscle-flex-inc-%e2%80%99s-mfli-pk-vata-brasiltm-sports-active-wear-line-in-the-distinctive-assets-%e2%80%9candre-agassi%e2%80%99s-14th-annual-grand-slam-for-chi/ http://www.straightstocks.com/investing-lessons/andre-agassi-foundation-includes-muscle-flex-inc-%e2%80%99s-mfli-pk-vata-brasiltm-sports-active-wear-line-in-the-distinctive-assets-%e2%80%9candre-agassi%e2%80%99s-14th-annual-grand-slam-for-chi/#comments Thu, 24 Sep 2009 13:33:25 +0000 QualityStocks http://Blog.QualityStocks.net/?p=18022 http://www.straightstocks.com/investing-lessons/andre-agassi-foundation-includes-muscle-flex-inc-%e2%80%99s-mfli-pk-vata-brasiltm-sports-active-wear-line-in-the-distinctive-assets-%e2%80%9candre-agassi%e2%80%99s-14th-annual-grand-slam-for-chi/feed/ 0 Prieur’s readings (September 23, 2009) http://www.straightstocks.com/investing-lessons/prieur%e2%80%99s-readings-september-23-2009/ http://www.straightstocks.com/investing-lessons/prieur%e2%80%99s-readings-september-23-2009/#comments Wed, 23 Sep 2009 08:43:04 +0000 Prieur du Plessis http://www.investmentpostcards.com/?p=11439 http://www.straightstocks.com/investing-lessons/prieur%e2%80%99s-readings-september-23-2009/feed/ 1 Consorteum Holdings Inc. New Partnership Provides Competitive Merchant Discount Rates http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-new-partnership-provides-competitive-merchant-discount-rates/ http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-new-partnership-provides-competitive-merchant-discount-rates/#comments Tue, 22 Sep 2009 17:47:43 +0000 Dr. Stock Pick http://drstockpick.com/?p=3576 http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-new-partnership-provides-competitive-merchant-discount-rates/feed/ 0 Put These Four Stocks on Your Watch List http://www.straightstocks.com/investing-lessons/put-these-four-stocks-on-your-watch-list/ http://www.straightstocks.com/investing-lessons/put-these-four-stocks-on-your-watch-list/#comments Mon, 21 Sep 2009 22:32:28 +0000 Andrew Snyder http://www.contrarianprofits.com/?p=20639 http://www.straightstocks.com/investing-lessons/put-these-four-stocks-on-your-watch-list/feed/ 0 DrStockPick.com Stock Report! 9/18/09, OMPI, AVEW, CI, CVLL, MFLI, ISIL http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-91809-ompi-avew-ci-cvll-mfli-isil/ http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-91809-ompi-avew-ci-cvll-mfli-isil/#comments Fri, 18 Sep 2009 19:34:15 +0000 Dr. Stock Pick http://drstockpick.com/?p=3508 http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-91809-ompi-avew-ci-cvll-mfli-isil/feed/ 0 The Muscle Flex, Inc. (MFLI.PK) VATA Brasil Sports Active Wear Line to Be Included in the “Andre Agassi’s 14th Annual Grand Slam for Children” Gift Basket http://www.straightstocks.com/investing-lessons/the-muscle-flex-inc-mfli-pk-vata-brasil-sports-active-wear-line-to-be-included-in-the-%e2%80%9candre-agassi%e2%80%99s-14th-annual-grand-slam-for-children%e2%80%9d-gift-basket/ http://www.straightstocks.com/investing-lessons/the-muscle-flex-inc-mfli-pk-vata-brasil-sports-active-wear-line-to-be-included-in-the-%e2%80%9candre-agassi%e2%80%99s-14th-annual-grand-slam-for-children%e2%80%9d-gift-basket/#comments Fri, 18 Sep 2009 12:34:54 +0000 QualityStocks http://Blog.QualityStocks.net/?p=17924 http://www.straightstocks.com/investing-lessons/the-muscle-flex-inc-mfli-pk-vata-brasil-sports-active-wear-line-to-be-included-in-the-%e2%80%9candre-agassi%e2%80%99s-14th-annual-grand-slam-for-children%e2%80%9d-gift-basket/feed/ 0 CSRH, Consorteum Holdings Inc. Forms Joint Venture to Capitalize on Emerging International Markets http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-forms-joint-venture-to-capitalize-on-emerging-international-markets/ http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-forms-joint-venture-to-capitalize-on-emerging-international-markets/#comments Wed, 16 Sep 2009 16:16:38 +0000 Dr. Stock Pick http://drstockpick.com/?p=3445 http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-forms-joint-venture-to-capitalize-on-emerging-international-markets/feed/ 0 Muscle Flex, Inc.’s (MFLI.PK) VATA Brasil(TM) Sports and Active Wear to Be Broadcast Live on Fox News in Las Vegas and Los Angeles http://www.straightstocks.com/small-cap-and-micro-cap-stocks/muscle-flex-inc-%e2%80%99s-mfli-pk-vata-brasiltm-sports-and-active-wear-to-be-broadcast-live-on-fox-news-in-las-vegas-and-los-angeles/ http://www.straightstocks.com/small-cap-and-micro-cap-stocks/muscle-flex-inc-%e2%80%99s-mfli-pk-vata-brasiltm-sports-and-active-wear-to-be-broadcast-live-on-fox-news-in-las-vegas-and-los-angeles/#comments Wed, 16 Sep 2009 12:46:41 +0000 QualityStocks http://Blog.QualityStocks.net/?p=17857 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/muscle-flex-inc-%e2%80%99s-mfli-pk-vata-brasiltm-sports-and-active-wear-to-be-broadcast-live-on-fox-news-in-las-vegas-and-los-angeles/feed/ 0 Consorteum Holdings Inc. Forms Joint Venture to Capitalize on Emerging International Markets http://www.straightstocks.com/investing-lessons/consorteum-holdings-inc-forms-joint-venture-to-capitalize-on-emerging-international-markets-2/ http://www.straightstocks.com/investing-lessons/consorteum-holdings-inc-forms-joint-venture-to-capitalize-on-emerging-international-markets-2/#comments Tue, 15 Sep 2009 17:07:00 +0000 Stock-PR http://stock-pr.com/?p=1244 http://www.straightstocks.com/investing-lessons/consorteum-holdings-inc-forms-joint-venture-to-capitalize-on-emerging-international-markets-2/feed/ 0 Consorteum Holdings Inc. Forms Joint Venture to Capitalize on Emerging International Markets http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-forms-joint-venture-to-capitalize-on-emerging-international-markets/ http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-forms-joint-venture-to-capitalize-on-emerging-international-markets/#comments Tue, 15 Sep 2009 14:55:14 +0000 Dr. Stock Pick http://drstockpick.com/?p=3412 http://www.straightstocks.com/stock-watch/consorteum-holdings-inc-forms-joint-venture-to-capitalize-on-emerging-international-markets/feed/ 0 CSRH.OB, Consorteum Holdings Inc. Expands To International Markets Through Creation Of New Joint Venture with Trans Screen Group of Illinois http://www.straightstocks.com/stock-watch/csrh-ob-consorteum-holdings-inc-expands-to-international-markets-through-creation-of-new-joint-venture-with-trans-screen-group-of-illinois/ http://www.straightstocks.com/stock-watch/csrh-ob-consorteum-holdings-inc-expands-to-international-markets-through-creation-of-new-joint-venture-with-trans-screen-group-of-illinois/#comments Fri, 11 Sep 2009 13:03:28 +0000 Dr. Stock Pick http://drstockpick.com/?p=3348 http://www.straightstocks.com/stock-watch/csrh-ob-consorteum-holdings-inc-expands-to-international-markets-through-creation-of-new-joint-venture-with-trans-screen-group-of-illinois/feed/ 1 Muscle Flex Inc: A Rare Investment Opportunity (OTC:MFLI) http://www.straightstocks.com/stock-watch/muscle-flex-inc-a-rare-investment-opportunity-otcmfli/ http://www.straightstocks.com/stock-watch/muscle-flex-inc-a-rare-investment-opportunity-otcmfli/#comments Thu, 10 Sep 2009 02:05:59 +0000 Michael Vlaicu http://www.stockshaven.com/?p=476 http://www.straightstocks.com/stock-watch/muscle-flex-inc-a-rare-investment-opportunity-otcmfli/feed/ 0 The One Investment That Pays Dividends Every Day http://www.straightstocks.com/contrarian-perspectives/the-one-investment-that-pays-dividends-every-day/ http://www.straightstocks.com/contrarian-perspectives/the-one-investment-that-pays-dividends-every-day/#comments Fri, 04 Sep 2009 20:17:00 +0000 Investment U http://www.investmentu.com/IUEL/2009/September/art-as-an-investment.html http://www.straightstocks.com/contrarian-perspectives/the-one-investment-that-pays-dividends-every-day/feed/ 0 Cash Infusion by Las Vegas Sands – Analyst Blog http://www.straightstocks.com/stock-watch/cash-infusion-by-las-vegas-sands-analyst-blog/ http://www.straightstocks.com/stock-watch/cash-infusion-by-las-vegas-sands-analyst-blog/#comments Fri, 04 Sep 2009 18:20:13 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/24506/Cash+Infusion+by+Las+Vegas+Sands+-+Analyst+Blog Las Vegas Sands Corporation (LVS) has announced its intention to infuse up to $600 million of capital through the sale of exchangeable bonds to strengthen up its balance sheet prior to the scheduled Hong Kong initial public offering (IPO) of its subsidiary.

The bonds will be compulsorily exchanged into common stock of its Macau unit after the unit's pending IPO on the Hong Kong Stock Exchange. The bonds will mature on September 4, 2014, according to a filing with the Securities and Exchange Commission, for which Goldman Sachs (GS) is the banker.

This pre-IPO financing is a part of Las Vegas Sands' current efforts to strengthen its financial position. Recently, the company has amended its $3.3 billion Macau credit facility. The amended agreement would enable it to sell a minority interest in its Macau operations for bolstering cash. Senior secured or unsecured notes can also be issued by Las Vegas Sands in Macau.

Las Vegas Sands is creating the Cotai Strip, a master-planned development of resort-casino properties in Macau. The project will feature approximately 21,000 rooms from renowned hotel brands such as St. Regis, Sheraton, Shangri-La, Traders, Hilton, Conrad, Fairmont, Raffles, Holiday Inn and InterContinental.

Las Vegas Sands maintains a robust development pipeline, with projects in Macau, Las Vegas, Singapore and Pennsylvania.  In fact, the company is exposed to Las Vegas and Macau, two of the most dynamic gaming markets in the world. Additionally, these capital bolstering initiatives coupled with cost-containment measures augur well going forward.
Read the full analyst report on "LVS"
Read the full analyst report on "GS"
Zacks Investment Research
]]> http://www.straightstocks.com/stock-watch/cash-infusion-by-las-vegas-sands-analyst-blog/feed/ 0 PAPA, IFUS, BEHL Stock-PR Hot Pinks Stock Headlines September 4, 2009 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/papa-ifus-behl-stock-pr-hot-pinks-stock-headlines-september-4-2009/ http://www.straightstocks.com/small-cap-and-micro-cap-stocks/papa-ifus-behl-stock-pr-hot-pinks-stock-headlines-september-4-2009/#comments Fri, 04 Sep 2009 11:45:46 +0000 Stock-PR http://stock-pr.com/?p=1125 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/papa-ifus-behl-stock-pr-hot-pinks-stock-headlines-september-4-2009/feed/ 0 Time to Remove Stimulus? http://www.straightstocks.com/market-commentary/time-to-remove-stimulus/ http://www.straightstocks.com/market-commentary/time-to-remove-stimulus/#comments Thu, 03 Sep 2009 19:34:38 +0000 Contrarian Profits http://www.contrarianprofits.com/?p=20339 http://www.straightstocks.com/market-commentary/time-to-remove-stimulus/feed/ 0 Ideal Financial Solutions Increases Cash Assets by 20% to Over $1,200,000 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/ideal-financial-solutions-increases-cash-assets-by-20-to-over-1200000/ http://www.straightstocks.com/small-cap-and-micro-cap-stocks/ideal-financial-solutions-increases-cash-assets-by-20-to-over-1200000/#comments Thu, 03 Sep 2009 13:12:06 +0000 Stock-PR http://stock-pr.com/?p=1114 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/ideal-financial-solutions-increases-cash-assets-by-20-to-over-1200000/feed/ 0 SmallCapSentinel.com: For Sun and Wind http://www.straightstocks.com/small-cap-and-micro-cap-stocks/smallcapsentinel-com-for-sun-and-wind/ http://www.straightstocks.com/small-cap-and-micro-cap-stocks/smallcapsentinel-com-for-sun-and-wind/#comments Thu, 03 Sep 2009 00:31:36 +0000 Stuart T. Smith http://smallcapvoice.com/blog/?p=2396 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/smallcapsentinel-com-for-sun-and-wind/feed/ 0 The U.S. Housing Market’s False Dawn http://www.straightstocks.com/market-commentary/the-u-s-housing-markets-false-dawn/ http://www.straightstocks.com/market-commentary/the-u-s-housing-markets-false-dawn/#comments Tue, 01 Sep 2009 18:10:43 +0000 Martin Hutchinson http://www.straightstocks.com/market-commentary/the-u-s-housing-markets-false-dawn/ http://www.straightstocks.com/market-commentary/the-u-s-housing-markets-false-dawn/feed/ 0 August 31st CEOcast Weekly Newsletter http://www.straightstocks.com/small-cap-and-micro-cap-stocks/august-31st-ceocast-weekly-newsletter/ http://www.straightstocks.com/small-cap-and-micro-cap-stocks/august-31st-ceocast-weekly-newsletter/#comments Mon, 31 Aug 2009 20:26:55 +0000 QualityStocks http://Blog.QualityStocks.net/?p=17565 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/august-31st-ceocast-weekly-newsletter/feed/ 0 August 31st CEOcast Weekly Newsletter http://www.straightstocks.com/small-cap-and-micro-cap-stocks/august-31st-ceocast-weekly-newsletter/ http://www.straightstocks.com/small-cap-and-micro-cap-stocks/august-31st-ceocast-weekly-newsletter/#comments Mon, 31 Aug 2009 20:26:55 +0000 QualityStocks http://Blog.QualityStocks.net/?p=17565 http://www.straightstocks.com/small-cap-and-micro-cap-stocks/august-31st-ceocast-weekly-newsletter/feed/ 0 Why Housing Prices Will Keep Dropping in Value http://www.straightstocks.com/market-commentary/why-housing-prices-will-keep-dropping-in-value/ http://www.straightstocks.com/market-commentary/why-housing-prices-will-keep-dropping-in-value/#comments Fri, 28 Aug 2009 19:41:40 +0000 Investment U http://www.investmentu.com/IUEL/2009/August/why-housing-prices-continue-to-decline.html http://www.straightstocks.com/market-commentary/why-housing-prices-will-keep-dropping-in-value/feed/ 0 Dana Resources Evaluating Joint Venture Opportunities on Base Metals Assets http://www.straightstocks.com/market-commentary/dana-resources-evaluating-joint-venture-opportunities-on-base-metals-assets/ http://www.straightstocks.com/market-commentary/dana-resources-evaluating-joint-venture-opportunities-on-base-metals-assets/#comments Fri, 28 Aug 2009 14:24:37 +0000 Stock-PR http://stock-pr.com/?p=1074 http://www.straightstocks.com/market-commentary/dana-resources-evaluating-joint-venture-opportunities-on-base-metals-assets/feed/ 0 DrStockPick.com Stock Report! 8/28/09, MFLI, LGDI, PGV, EURX, TRMB, ACET http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-82809-mfli-lgdi-pgv-eurx-trmb-acet/ http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-82809-mfli-lgdi-pgv-eurx-trmb-acet/#comments Fri, 28 Aug 2009 11:41:16 +0000 Dr. Stock Pick http://drstockpick.com/?p=3067 http://www.straightstocks.com/stock-watch/drstockpick-com-stock-report-82809-mfli-lgdi-pgv-eurx-trmb-acet/feed/ 0 CRWE, Crown Equity Holdings to Assist Processing Corporation With Taiwan’s largest Internet travel media TTNews http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-to-assist-processing-corporation-with-taiwan%e2%80%99s-largest-internet-travel-media-ttnews/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-to-assist-processing-corporation-with-taiwan%e2%80%99s-largest-internet-travel-media-ttnews/#comments Fri, 28 Aug 2009 11:36:20 +0000 Dr. Stock Pick http://drstockpick.com/?p=3066 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-to-assist-processing-corporation-with-taiwan%e2%80%99s-largest-internet-travel-media-ttnews/feed/ 0 Dana Resources Evaluating Several New Gold Prospects Situated Between Its Collota Gold Deposit and Barrick’s Pierina Mine http://www.straightstocks.com/market-commentary/dana-resources-evaluating-several-new-gold-prospects-situated-between-its-collota-gold-deposit-and-barrick%e2%80%99s-pierina-mine/ http://www.straightstocks.com/market-commentary/dana-resources-evaluating-several-new-gold-prospects-situated-between-its-collota-gold-deposit-and-barrick%e2%80%99s-pierina-mine/#comments Thu, 27 Aug 2009 23:29:03 +0000 Stock-PR http://stock-pr.com/?p=1073 http://www.straightstocks.com/market-commentary/dana-resources-evaluating-several-new-gold-prospects-situated-between-its-collota-gold-deposit-and-barrick%e2%80%99s-pierina-mine/feed/ 0 PennyOmega.com Stock Report! 8/27/09, WILC, CPY, REIS, PCMC, FSTR, HIL http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-82709-wilc-cpy-reis-pcmc-fstr-hil/ http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-82709-wilc-cpy-reis-pcmc-fstr-hil/#comments Thu, 27 Aug 2009 19:02:25 +0000 PennyOmega.com http://pennyomega.com/?p=824 <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

]]> http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-82709-wilc-cpy-reis-pcmc-fstr-hil/feed/ 0 Crown Equity Holdings to Assist Processing Corporation With TTNews http://www.straightstocks.com/stock-watch/crown-equity-holdings-to-assist-processing-corporation-with-ttnews/ http://www.straightstocks.com/stock-watch/crown-equity-holdings-to-assist-processing-corporation-with-ttnews/#comments Thu, 27 Aug 2009 12:07:10 +0000 Dr. Stock Pick http://drstockpick.com/?p=3035 http://www.straightstocks.com/stock-watch/crown-equity-holdings-to-assist-processing-corporation-with-ttnews/feed/ 0 Dana Resources Technical Update on Collota 1.17 Million Ounce Gold Deposit http://www.straightstocks.com/stock-watch/dana-resources-technical-update-on-collota-1-17-million-ounce-gold-deposit/ http://www.straightstocks.com/stock-watch/dana-resources-technical-update-on-collota-1-17-million-ounce-gold-deposit/#comments Wed, 26 Aug 2009 17:56:08 +0000 Dr. Stock Pick http://drstockpick.com/?p=3024 http://www.straightstocks.com/stock-watch/dana-resources-technical-update-on-collota-1-17-million-ounce-gold-deposit/feed/ 0 CRWE, Crown Equity Holdings Inc. $250,000 License Agreement with Velvet International, Inc. http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-250000-license-agreement-with-velvet-international-inc-2/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-250000-license-agreement-with-velvet-international-inc-2/#comments Wed, 26 Aug 2009 15:19:31 +0000 Dr. Stock Pick http://drstockpick.com/?p=3019 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-250000-license-agreement-with-velvet-international-inc-2/feed/ 0 CRWE, Crown Equity Holdings Inc. $250,000 License Agreement with Velvet International, Inc. http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-250000-license-agreement-with-velvet-international-inc/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-250000-license-agreement-with-velvet-international-inc/#comments Tue, 25 Aug 2009 20:31:03 +0000 Dr. Stock Pick http://drstockpick.com/?p=2992 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-250000-license-agreement-with-velvet-international-inc/feed/ 0 House Prices Actually RISING – Analyst Blog http://www.straightstocks.com/stock-watch/house-prices-actually-rising-analyst-blog/ http://www.straightstocks.com/stock-watch/house-prices-actually-rising-analyst-blog/#comments Tue, 25 Aug 2009 18:10:55 +0000 Dirk Van Dijk http://www.zacks.com/stock/news/24005/House+Prices+Actually+RISING+-+Analyst+Blog The Case-Schiller composite index of housing prices in 20 major metropolitan areas rose 0.7% on a seasonally adjusted basis in June, following an essentially unchanged reading in May. The not-seasonally-adjusted numbers were even better (and what most of the press coverage were initially focused on). However, there is a distinct seasonal pattern to housing prices, so it is better to focus on the seasonally adjusted numbers.

The increase in prices was widespread, with 15 of the 20 areas seeing an increase -- better than expected, and extremely good news. In May, nine of the 20 cities were up. The news is still tentative, with much of the good news coming from a reduction in supply as banks have been letting the foreclosure pipeline build, and an increase in demand from the first-time homebuyer tax credit, which expires at the end of November.

On a year-over-year basis, the composite 20 index was down 15.5%. The Composite 10 index, which has a longer history, was down 15.1% (also up 0.7% on a monthly basis).

All 20 metro areas are down on a year-over-year basis. Of course, the housing bubble did not pop a year ago -- the decline has been going on a lot longer than that. The peak in both of the composite indexes was in May 2006. Since that time, the composite 20 index is down 31.5% and the composite 10 index is down 32.6%.

This has destroyed the wealth of most of the middle class and resulted in millions of people being underwater in their homes. When people are underwater on their homes, they are far more likely to stop paying on their mortgages than if they have equity in their homes. This, in turn, has led to massive (and still partially hidden due to very lax accounting rules) losses at the banks. This has depleted their capital and made it much more difficult to lend.

The collapse in housing values is probably the single most important factor in causing the world-wide economic decline. Signs that it is reversing are thus extremely important.

Not all areas have been equally affected by the bursting of the housing bubble. In two markets, Phoenix (-54.1%) and Las Vegas (-54.5%), prices have been more than cut in half since May 2006. In six other markets, Las Angeles, San Diego, San Francisco, Miami, Tampa and Detroit, prices are down by more than 40%. On the other hand, three markets, Dallas (-3.8%), Charlotte (-4.2%) and Denver (-9.4%) are down by less than 10%, and five more are down less than 20% from the nationwide peak (individual peaks varied by a few months).

Similarly, the increases over the last month have been very uneven. Five markets, surprisingly lead by Cleveland (3.3%) reported seasonally adjusted increases of 2.0% or more. The others were San Francisco (3.1%), Portland (2.9%), D.C. (2.2%) and Minneapolis (2.0%).

The big warning signs that we were in a housing bubble were that housing prices were getting out of line with rents and with median incomes. The slide in prices over the last three years has brought us back to more normal levels. This can be seen in the two graphs below (from http://www.calculatedriskblog.com/).

Most of the adjustment in home prices is behind us, but I am not totally sure we are out of the woods. With the soft economy and rising unemployment, median incomes are not going up and are probably falling.

Major apartment REITs like Equity Residential (EQR) and Apartment Investors (AIV) have been reporting that they have had to lower stated rents recently and effective rents even more (i.e. throwing in a few free months of rent when you sign a lease). This means that rents are most likely going down nationwide, although it has not yet shown up in Owners Equivalent Rents, which is how the government tracks housing for calculating inflation. Declining rents and incomes will put more pressure on housing prices.

This will be particularly true once the artificial prop of the first-time home-buy tax credit expires. The other major prop to the market has been the Federal Reserve, which has turned into the mortgage buyer of first and last resort as it is in the process of buying $1.25 trillion in Fannie (FNM) and Freddie (FRE) backed securities. Eventually the Fed will have to reverse those actions (or inflation will spiral out of control), and when it does, the mortgage market is likely to get much, much tighter.

Still, it is abundantly clear from the charts that we are much closer to the bottom than we are from the top. We are unlikely to see a major rise in home prices going forward, but just stopping the freefall is very good news indeed. It does not repair the very significant damage that has already been done, but it does mean that things are not getting materially worse.



Read the full analyst report on "EQR"
Read the full analyst report on "AIV"
Read the full analyst report on "FNM"
Read the full analyst report on "FRE"
Zacks Investment Research
]]> http://www.straightstocks.com/stock-watch/house-prices-actually-rising-analyst-blog/feed/ 0 Obama Backs Big Ben – Analyst Blog http://www.straightstocks.com/stock-watch/obama-backs-big-ben-analyst-blog/ http://www.straightstocks.com/stock-watch/obama-backs-big-ben-analyst-blog/#comments Tue, 25 Aug 2009 16:05:16 +0000 Dirk Van Dijk http://www.zacks.com/stock/news/23985/Obama+Backs+Big+Ben+-+Analyst+Blog President Obama has decided to reappoint Fed Chairman Ben Bernanke to a second term. On balance, I think this is the right move. In many ways, his reappointment makes more sense than his original appointment.

The worst marks against Bernanke’s record come from when he was serving on the Fed board under Alan Greenspan, did nothing to stop the bubble forming and was almost willfully blind in seeing it coming. While as Chairman, he was a little slow off the mark in addressing the crisis, once engaged he took the needed steps to pull the world back from the brink of the abyss.

The role of Fed Chairman has two major components. First and foremost, he (along with the board of Governors) is responsible for monetary policy. This is the raising and lowering of the Fed Funds rate and regulating the overall money supply.

On that front, I think he has done an excellent job under the most trying of circumstances. He faced a raging wildfire of deleveraging in the financial system after the demise of Lehman Brothers and the near collapse of several other major financial institutions, including American International Group (AIG), Fannie Mae (FNM), Freddie Mac (FRE), Merrill Lynch -- now part of Bank of America (BAC) and Citigroup (C).

He responded by quickly lowering the Fed Funds rate to almost zero, and then going a few steps further by engaging in quantitative easing, or buying mortgage-backed securities and long-term T-notes. These actions dramatically increased the size of the Fed balance sheet and with it the size of the monetary base. He responded with a slew of innovative alphabet soup programs, such as the TALF program, to stabilize the system.

At the core of the problem is that deleveraging dramatically slows the velocity of money, or the rate at which it moves from one hand to another. Banks want to hold onto as much cash as possible and do not want to lend it out.

Since nominal GDP can be defined as the supply of money times the rate at which it turns over, if the money supply is not increased, then GDP will fall precipitously. This comes from the basic monetarists equation of M*V = P*Q, where M is the money supply, V is the velocity, P is the price level (inflation) and Q is the quantity produced (real output).

Once engaged, Bernanke saw the scope of the problem and unleashed a fire hose of liquidity on the problem. While the economy is clearly not in good shape, I shudder to think about the condition we would be in had he not taken these actions. Most people fail to appreciate just how close we came to financial Armageddon last fall. It was the economic equivalent of the Cuban Missile Crisis.  

Sopping up all that liquidity is going to be extremely tricky, and the timing is going to have to be just right. If it is removed too soon, then the economy will slip right back into its downward trajectory.

The actions of the Fed prevented a second Great Depression, but that does not mean the threat has totally disappeared, just that the medicine is working. Stopping the medicine too soon would cause a relapse.

The best example of this in history was in the 1930’s. Few people realize that the greatest growth in GDP and industrial production in U.S. peacetime history was from 1933 through 1936. Unfortunately, worried about the potential for inflation and unprecedented budget deficits, both Monetary and Fiscal policy turned concretionary in 1937, resulting in a very nasty recession, a relapse that took WWII to cure.

On the other hand, if velocity starts to pick up and all that monetary base is still out there, then the movement on the other side of the equation will be as much or more from the P, inflation, as it is from the Q, a pick up in real economic activity. If Bernanke does not act quickly enough, inflation could easily return to mid-1970’s levels or worse.

Bernanke is betting that right now real activity is depressed enough that when V starts to pick up, the bulk of the adjustment will be in real output, or Q. With capacity utilization at near record lows, there is a very good justification for this view.

Certainly recent inflation reports have been not been on the too-hot side.  Heck, we just saw the biggest year-over-year drop in producer prices on record! Changing horses in midstream is not a good idea, and until this river of liquidity is removed, we will not get to the other side.

The other major role of the Fed Chairman is to be one of the most important bank regulators. Here I would give him much weaker marks. The banks acted outrageously leading up to the crisis. They used taxpayer-backed deposits and effectively went to Las Vegas with them. Their casino of choice was highly leveraged bets on exotic forms of mortgage-backed securities.

Another favorite table game were derivatives, most notably Credit Default Swaps (CDS) which were essentially life insurance contracts on companies. When they were winning the bets, they paid out bonuses that were beyond lavish. They did not set aside sufficient reserves for when the bets turned bad.

The Fed, along with the Treasury, simply threw money at the banks with very few strings attached. The taxpayer got very little in return. This was one of the greatest transfers of wealth -- welfare, if you will -- in human history. It did not go to the poor or the sick; it went to the wealthy and the powerful. In the process, it set up a moral hazard problem of epic proportions.

Bankers now know that they can make huge bets, and if they lose, the taxpayer will cover them. If they win, they get to keep it all. This will encourage banks and other financial institutions to be even more irresponsible in the future.

An overhaul of the financial regulatory structure would help, and the recent proposals by the Obama Administration are a decent first step in that regard. Unfortunately, the proposals are more likely to be watered down in Congress than strengthened. This is exactly the sort of issue where lobbyists hold the most sway -- dry and complicated issues where a very powerful group has a huge interest in the outcome.

The net result is that down the road -- not next year or the year after, but maybe in a decade -- we will face another massive crisis in the financial system. And where the actions of the last administration with regard to the banks were beyond scandalous, the actions of the current administration towards the banks have been a huge disappointment. "Change we can believe in" has, at best, become change around the edges.

In his second term, Bernanke will have to become a much tougher regulator. Part of the regulatory reform would put even more power in the hands of the Fed as a systemic risk regulator. I agree that such a regulator is needed, and the Fed is one of the two obvious candidates for the job (the other being the FDIC).

The opposition the Fed has shown in giving up part of its regulatory power -- the consumer protection part -- is extremely disappointing, and smacks of more interest in bureaucratic turf than the interests of the American people or the economy. The Fed has done a lousy job in protecting the consumer from predatory practices at the banks, and a separate agency is desperately needed.

The experience of Alan Greenspan should warn us loudly about the lionization of a Fed Chairman. For most of his tenure, Greenspan was lionized as the “Maestro." Now it is clear that he truly was a failure whose actions led to the near total collapse of the entire world economy.

Thus, I have no desire to lift Ben Bernanke up to Mount Olympus. Still, given his excellent handling of monetary policy during the most difficult of times, Bernanke deserves to finish the job he started, and Obama is making the right move in reappointing him.
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]]> http://www.straightstocks.com/stock-watch/obama-backs-big-ben-analyst-blog/feed/ 0 Aug 25: Consumer Confidence – Economic Highlights http://www.straightstocks.com/stock-watch/aug-25-consumer-confidence-economic-highlights/ http://www.straightstocks.com/stock-watch/aug-25-consumer-confidence-economic-highlights/#comments Tue, 25 Aug 2009 15:08:00 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/23981/Aug+25%3A+Consumer+Confidence+-+Economic+Highlights
The S&P/Case-Shiller 10-City Home Price Index increased by 1.4% in June, following a 0.5% increase in May (revised from an originally reported 0.4% increase, a 0.7% decrease in April, and a 2.1% decline in March.  Over the year, the index has fallen by 15.1%.  The S&P/Case-Shiller 20-City Home Price Index also had increased by 1.4% in June, following a 0.5% increase in May, and a 0.6% decrease in April.  The index is down by 15.4% over the year.  The indices now stand at early-2003 levels.  Over the past month, 18 of the 20 MSAs showed improvement in returns, the highest being in Cleveland, up 4.2%.  Las Vegas posted negative returns of -2.0% and Detroit of -0.8%.  Over the year, all metropolitan areas show negative returns.

The Consumer Confidence Index bounced back to 54.1% in August, from 47.4% in July, better than the expected 47.8% level.  The Present Situation Index increased to 24.9 from 23.3 last month. The Expectations Index improved to 73.5 from 63.4 in July.  Consumers outlook on business conditions and the employment situation improved over the month.

Upcoming Releases
Durable Orders (08/26 at 8:30 AM EST)
GDP Preliminary (08/27 at 8:30 AM EST)
Initial Claims (08/27 at 8:30 AM EST)
Personal Consumption Expenditures (08/28 at 8:30 AM EST)

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]]> http://www.straightstocks.com/stock-watch/aug-25-consumer-confidence-economic-highlights/feed/ 0 PennyOmega.com Stock Report! 8/24/09, PONE, HFFI, HSC, XDSL, XCELE, JBT http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-82409-pone-hffi-hsc-xdsl-xcele-jbt/ http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-82409-pone-hffi-hsc-xdsl-xcele-jbt/#comments Mon, 24 Aug 2009 18:30:09 +0000 PennyOmega.com http://pennyomega.com/?p=778 <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

]]> http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-82409-pone-hffi-hsc-xdsl-xcele-jbt/feed/ 0 MetroPCS Expanding Coverage – Analyst Blog http://www.straightstocks.com/stock-watch/metropcs-expanding-coverage-analyst-blog/ http://www.straightstocks.com/stock-watch/metropcs-expanding-coverage-analyst-blog/#comments Mon, 24 Aug 2009 17:00:31 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/23929/MetroPCS+Expanding+Coverage+-+Analyst+Blog MetroPCS (PCS), a leading provider of unlimited pre-paid wireless service in the US, has reportedly expanded its New York City area service to include additional markets in the Tri-State region. The company has extended its unlimited service footprint to include Long Island, North Central New Jersey, White Plains and New Rochelle in New York, and Stamford and Bridgeport in Connecticut.

This expansion represents a part of MetroPCS’ ongoing initiative to increase its penetration in the lucrative Northeast region. The company entered Las Vegas and Philadelphia during 2008 and launched its low-cost unlimited wireless service in New York and Boston in February 2009, representing a major business expansion.

MetroPCS (PCS) offers a broad range of wireless broadband services (under the MetroPCS brand) in the selected metropolitan areas in the US, leveraging its proprietary code division multiple access (CDMA) technology based network. The company sells its products through self-operated and independent retail outlets.

Despite a leading position in the unlimited prepaid segment, MetroPCS is currently struggling with customer retention problems as evidenced by significant increase in churn (customer switch) in the last quarter. The company has been increasingly challenged by aggressive roll-outs of competitive discounted service plans by some of its larger rivals, most prominently Sprint Nextel’s (S) Boost Mobile, America Movil’s (AMX) Tracfone and Deutsche Telekom’s (DT) T-Mobile USA.

To counter intense competition, MetroPCS is broadening its portfolio of discounted price plans and entering new markets for growth. The company is currently enjoying meaningful traction in the Northeast region, which is reflected in healthy subscriber growth. Approximately 94% of the new customer additions came from this region in the second quarter of 2009. A significant part of the company’s network infrastructure deployment initiatives are currently centered in the Northeast region.

While the company’s expansion initiatives into the Northeastern markets appears encouraging for sustaining subscriber growth, associated expenditures may strain balance sheet condition moving forward.
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]]> http://www.straightstocks.com/stock-watch/metropcs-expanding-coverage-analyst-blog/feed/ 0 CRWE Crown Equity Holdings Inc. Announces $250,000 License Agreement with Velvet International, Inc. http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-5/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-5/#comments Sat, 22 Aug 2009 15:52:15 +0000 Dr. Stock Pick http://drstockpick.com/?p=2907 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-5/feed/ 0 Bio Solutions Manufacturing, Inc. (BSOM.OB) is “One to Watch” http://www.straightstocks.com/market-commentary/bio-solutions-manufacturing-inc-bsom-ob-is-%e2%80%9cone-to-watch%e2%80%9d/ http://www.straightstocks.com/market-commentary/bio-solutions-manufacturing-inc-bsom-ob-is-%e2%80%9cone-to-watch%e2%80%9d/#comments Fri, 21 Aug 2009 18:39:00 +0000 QualityStocks http://Blog.QualityStocks.net/?p=17364 http://www.straightstocks.com/market-commentary/bio-solutions-manufacturing-inc-bsom-ob-is-%e2%80%9cone-to-watch%e2%80%9d/feed/ 0 Global Consumer Eyes BB&T Branches – Analyst Blog http://www.straightstocks.com/stock-watch/global-consumer-eyes-bbt-branches-analyst-blog/ http://www.straightstocks.com/stock-watch/global-consumer-eyes-bbt-branches-analyst-blog/#comments Fri, 21 Aug 2009 15:00:45 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/23841/Global+Consumer+Eyes+BB%26T+Branches+-+Analyst+Blog
Global Consumer Acquisition Corp. (GHC) announced yesterday that it intends to buy some or all of BB&T Corp.’s (BBT) 21 branches in Nevada. Those branches were acquired by BB&T as part of its takeover of Colonial BancGroup last Friday. Global is in discussion with BB&T about its intention.

In July, Global reached an agreement with Colonial to buy the 21 branches, which have about $492 million in deposits and $440 million in loans. However, the deal had been invalidated by the takeover of Colonial by BB&T.

The Colonial deal is the biggest acquisition in BB&T’s history, creating the nation's eighth-largest financial holding company by deposits. Previously, BB&T had only three branches in Alabama. After the takeover, BB&T gained an additional 90 Colonial branches across the state and 204 branches in Florida, up from 107 offices previously.

BB&T has already started the integration process and expects merger and integration costs to total about $245 million. It anticipates about $170 million in annual pretax expense reductions.

The branches gained by BB&T in Nevada and Texas are outside its traditional business territory. Chances are that Global could get the branches in Nevada . However, BB&T has said that it would take time to decide about these branches.

According to Global, if it gets those branches, it would merge them with its Las Vegas arm, First Commerce Bank, and form a holding company, Western Liberty Bancorp.


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]]> http://www.straightstocks.com/stock-watch/global-consumer-eyes-bbt-branches-analyst-blog/feed/ 0 Derivatives Are Evil And Must Be Destroyed http://www.straightstocks.com/investing-lessons/derivatives-are-evil-and-must-be-destroyed/ http://www.straightstocks.com/investing-lessons/derivatives-are-evil-and-must-be-destroyed/#comments Thu, 20 Aug 2009 12:30:05 +0000 Trading School http://club.ino.com:80/trading/?p=1609 http://www.straightstocks.com/investing-lessons/derivatives-are-evil-and-must-be-destroyed/feed/ 0 CRWE Crown Equity Holdings Inc. Announces $250,000 License Agreement with Velvet International, Inc. http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-4/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-4/#comments Wed, 19 Aug 2009 21:43:53 +0000 Dr. Stock Pick http://drstockpick.com/?p=2845 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-4/feed/ 0 Players Network (PNTV.OB) Announces Agreement with Horse Racing Simulation LLC http://www.straightstocks.com/market-commentary/players-network-pntv-ob-announces-agreement-with-horse-racing-simulation-llc/ http://www.straightstocks.com/market-commentary/players-network-pntv-ob-announces-agreement-with-horse-racing-simulation-llc/#comments Tue, 18 Aug 2009 13:59:08 +0000 QualityStocks http://Blog.QualityStocks.net/?p=17240 http://www.straightstocks.com/market-commentary/players-network-pntv-ob-announces-agreement-with-horse-racing-simulation-llc/feed/ 0 PennyOmega.com Stock Report! 8/17/09, MTN, LMT, ITT, TKTM, NDAQ, WYE http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-81709-mtn-lmt-itt-tktm-ndaq-wye/ http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-81709-mtn-lmt-itt-tktm-ndaq-wye/#comments Mon, 17 Aug 2009 18:35:52 +0000 PennyOmega.com http://pennyomega.com/?p=707 <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

]]> http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-81709-mtn-lmt-itt-tktm-ndaq-wye/feed/ 0 Working Out What’s Behind the Price http://www.straightstocks.com/market-commentary/working-out-what%e2%80%99s-behind-the-price/ http://www.straightstocks.com/market-commentary/working-out-what%e2%80%99s-behind-the-price/#comments Mon, 17 Aug 2009 17:37:20 +0000 Bill Bonner http://www.contrarianprofits.com/?p=19941 http://www.straightstocks.com/market-commentary/working-out-what%e2%80%99s-behind-the-price/feed/ 0 CRWE Crown Equity Holdings Inc. Announces $250,000 License Agreement with Velvet International, Inc. http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-3/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-3/#comments Sun, 16 Aug 2009 02:18:24 +0000 Dr. Stock Pick http://drstockpick.com/?p=2749 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-3/feed/ 0 Yana Venture Philanthropy Group planning to be listed in OTCBB http://www.straightstocks.com/stock-watch/yana-venture-philanthropy-group-planning-to-be-listed-in-otcbb/ http://www.straightstocks.com/stock-watch/yana-venture-philanthropy-group-planning-to-be-listed-in-otcbb/#comments Wed, 12 Aug 2009 12:09:05 +0000 Dr. Stock Pick http://drstockpick.com/?p=2648 http://www.straightstocks.com/stock-watch/yana-venture-philanthropy-group-planning-to-be-listed-in-otcbb/feed/ 0 SmallCapSentinel.com: Profile of Abbreviated Dial Codes (ADC) Company Released http://www.straightstocks.com/market-commentary/smallcapsentinel-com-profile-of-abbreviated-dial-codes-adc-company-released/ http://www.straightstocks.com/market-commentary/smallcapsentinel-com-profile-of-abbreviated-dial-codes-adc-company-released/#comments Tue, 11 Aug 2009 14:00:49 +0000 Stuart T. Smith http://smallcapvoice.com/blog/?p=2225 http://www.straightstocks.com/market-commentary/smallcapsentinel-com-profile-of-abbreviated-dial-codes-adc-company-released/feed/ 0 CRWE Crown Equity Holdings Inc. Announces $250,000 License Agreement with Velvet International, Inc. http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-2/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-2/#comments Sat, 08 Aug 2009 16:10:02 +0000 Dr. Stock Pick http://drstockpick.com/?p=2584 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-2/feed/ 0 CRWE Crown Equity Holdings Inc. Announces $250,000 License Agreement with Velvet International, Inc. (PennyOmega.com Stock Report!) http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-pennyomega-com-stock-report/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-pennyomega-com-stock-report/#comments Fri, 07 Aug 2009 11:56:38 +0000 PennyOmega.com http://pennyomega.com/?p=634 <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

]]> http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc-pennyomega-com-stock-report/feed/ 0 Crown Equity Holdings Inc. Announces $250,000 License Agreement with Velvet International, Inc. http://www.straightstocks.com/market-commentary/crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc/ http://www.straightstocks.com/market-commentary/crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc/#comments Fri, 07 Aug 2009 11:22:06 +0000 Stock-PR http://stock-pr.com/?p=883 http://www.straightstocks.com/market-commentary/crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc/feed/ 0 CRWE Crown Equity Holdings Inc. Announces $250,000 License Agreement with Velvet International, Inc. http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc/ http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc/#comments Fri, 07 Aug 2009 10:27:33 +0000 Dr. Stock Pick http://drstockpick.com/?p=2549 http://www.straightstocks.com/stock-watch/crwe-crown-equity-holdings-inc-announces-250000-license-agreement-with-velvet-international-inc/feed/ 0 AQNM.OB Aquentium CEO Mark Taggatz Discusses Recent House Bill For Improved Food Safety Standards http://www.straightstocks.com/market-commentary/aqnm-ob-aquentium-ceo-mark-taggatz-discusses-recent-house-bill-for-improved-food-safety-standards/ http://www.straightstocks.com/market-commentary/aqnm-ob-aquentium-ceo-mark-taggatz-discusses-recent-house-bill-for-improved-food-safety-standards/#comments Thu, 06 Aug 2009 19:54:12 +0000 Stock-PR http://stock-pr.com/?p=882 http://www.straightstocks.com/market-commentary/aqnm-ob-aquentium-ceo-mark-taggatz-discusses-recent-house-bill-for-improved-food-safety-standards/feed/ 0 CSRH Consorteum Holdings Inc. Introduces New Financial Services Division (PennyOmega.com Stock Report!) http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-introduces-new-financial-services-division-pennyomega-com-stock-report/ http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-introduces-new-financial-services-division-pennyomega-com-stock-report/#comments Wed, 05 Aug 2009 12:52:37 +0000 PennyOmega.com http://pennyomega.com/?p=614 <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

]]> http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-introduces-new-financial-services-division-pennyomega-com-stock-report/feed/ 0 PennyOmega.com Stock Report! 8/05/09, http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-80509/ http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-80509/#comments Wed, 05 Aug 2009 12:18:26 +0000 PennyOmega.com http://pennyomega.com/?p=612 <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

]]> http://www.straightstocks.com/stock-watch/pennyomega-com-stock-report-80509/feed/ 0 CSRH Consorteum Holdings Inc. Introduces New Financial Services Division (DrStockPick News Report!) http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-introduces-new-financial-services-division-drstockpick-news-report/ http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-introduces-new-financial-services-division-drstockpick-news-report/#comments Wed, 05 Aug 2009 11:35:22 +0000 Dr. Stock Pick http://drstockpick.com/?p=2480 http://www.straightstocks.com/stock-watch/csrh-consorteum-holdings-inc-introduces-new-financial-services-division-drstockpick-news-report/feed/ 0 PWRM, CVAT, ERX, AQNM Stock Highlights 08-03-2009 Stock-PR http://www.straightstocks.com/market-commentary/pwrm-cvat-erx-aqnm-stock-highlights-08-03-2009-stock-pr/ http://www.straightstocks.com/market-commentary/pwrm-cvat-erx-aqnm-stock-highlights-08-03-2009-stock-pr/#comments Mon, 03 Aug 2009 18:21:54 +0000 Stock-PR http://stock-pr.com/?p=854 http://www.straightstocks.com/market-commentary/pwrm-cvat-erx-aqnm-stock-highlights-08-03-2009-stock-pr/feed/ 0 Stock-PR Stock Highligts: PWRM, XRX, CVAT 08-03-09 http://www.straightstocks.com/market-commentary/stock-pr-stock-highligts-pwrm-xrx-cvat-08-03-09/ http://www.straightstocks.com/market-commentary/stock-pr-stock-highligts-pwrm-xrx-cvat-08-03-09/#comments Mon, 03 Aug 2009 17:42:32 +0000 Stock-PR http://stock-pr.com/?p=853 http://www.straightstocks.com/market-commentary/stock-pr-stock-highligts-pwrm-xrx-cvat-08-03-09/feed/ 0 Power3 Medical Products, Inc. Files for Patent on Diagnosis of Early Stage Parkinson’s Disease http://www.straightstocks.com/market-commentary/power3-medical-products-inc-files-for-patent-on-diagnosis-of-early-stage-parkinson%e2%80%99s-disease/ http://www.straightstocks.com/market-commentary/power3-medical-products-inc-files-for-patent-on-diagnosis-of-early-stage-parkinson%e2%80%99s-disease/#comments Mon, 03 Aug 2009 17:23:19 +0000 Stock-PR http://stock-pr.com/?p=852 http://www.straightstocks.com/market-commentary/power3-medical-products-inc-files-for-patent-on-diagnosis-of-early-stage-parkinson%e2%80%99s-disease/feed/ 0 Meredith EPS Plummets – Analyst Blog http://www.straightstocks.com/stock-watch/meredith-eps-plummets-analyst-blog/ http://www.straightstocks.com/stock-watch/meredith-eps-plummets-analyst-blog/#comments Thu, 30 Jul 2009 22:54:00 +0000 Zacks Market Commentaries http://www.zacks.com/stock/news/23056/Meredith+EPS+Plummets++-+Analyst+Blog
Meredith Corporation (MDP) reported a dismal fourth quarter 2009. Revenue plunged 8.1% year over year to $345.8 million primarily driven by the decline in total advertising revenue (down 14.9% to $189.3 million).

Consequently, EPS plunged 26.7% year over year to $0.55, despite a 7% decline in total operating costs. However, it did surpass the Zacks Consensus Estimate of $0.54. On a reported basis, the company announced a net loss per share of $3.64, compared to EPS of $0.42 in the prior-year quarter.

Management expects EPS for the first quarter 2010 in the range of $0.30 to $0.35, and fiscal year 2010 in the range of $1.60 to $2.00.

Although a well-run company, Meredith is not immune to the secular downturn in the print media industry, which has been exacerbated by sluggish economic growth and an increase in paper costs. Publishing revenue continues to fall (down 4.7% to $283.4 million).

Publishing advertising revenue fell 9.5% in the quarter, and management expects it to decline in the mid-single digit range for the first quarter of 2010.

However, looking at the yearly trend, the second half of 2009 fared better than the first half on account of performance improvement measures taken by management. Magazine advertising fell 12% in the second half, an improvement over an 18% drop in the first half. Online advertising jumped to 7% in the second half from a decline of 14% in the first half.

Broadcasting revenue is also plummeting (20.8% to $62.5 million) led by 55% decline in automobile advertising, along with weakness in the Phoenix and Las Vegas markets, and the absence of political advertising. Broadcasting advertising revenue is currently pacing down nearly 25% for the first quarter of 2010.

The weak economy has prompted Meredith to diversify and add significant revenue streams beyond traditional advertising by leveraging its brands through strategic alliances. The company recently expanded the scope of its multi-year licensing agreement with Wal-Mart Stores for the design, marketing and retailing of home products based on the ‘Better Homes and Gardens’ (BHG) brand. In fiscal year 2009, Wal-Mart doubled the number of BHG brand products to more than 1,000, and will also launch the products in Canada in the second half of calendar year 2009. Brand licensing revenue rose 14% in fiscal year 2009.

In addition, MDP is taking initiatives to enhance its online presence. The company's flagship websites include BHG.com and Parents.com; the Real Girls Media Network, an online social women’s network; and Mixingbowl.com, an online social community interested in cooking.

Most recently, Meredith launched Meredith Women's Network, the first brand network comprising premium websites covering mostly women-related topics. We expect online revenue to become a more meaningful contributor in the next couple of years.

We maintain a Hold rating on the stock.


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]]> http://www.straightstocks.com/stock-watch/meredith-eps-plummets-analyst-blog/feed/ 0 Why Fading The Opening Gap Is The Ideal Setup for Me http://www.straightstocks.com/investing-lessons/why-fading-the-opening-gap-is-the-ideal-setup-for-me/ http://www.straightstocks.com/investing-lessons/why-fading-the-opening-gap-is-the-ideal-setup-for-me/#comments Thu, 30 Jul 2009 11:29:47 +0000 Trading School http://club.ino.com:80/trading/?p=1563 http://www.straightstocks.com/investing-lessons/why-fading-the-opening-gap-is-the-ideal-setup-for-me/feed/ 0 Why Fading The Opening Gap Is The Ideal Setup for Me http://www.straightstocks.com/investing-lessons/why-fading-the-opening-gap-is-the-ideal-setup-for-me/ http://www.straightstocks.com/investing-lessons/why-fading-the-opening-gap-is-the-ideal-setup-for-me/#comments Thu, 30 Jul 2009 11:29:47 +0000 Trading School http://club.ino.com:80/trading/?p=1563 http://www.straightstocks.com/investing-lessons/why-fading-the-opening-gap-is-the-ideal-setup-for-me/feed/ 0