Tag: acquisition

Nordstrom Q4 Profit Jumps 35%; Will Acquire HauteLook for $180 Million (JWN)

Filed in dividend, earnings, Gold, o, revenue, shares by on February 18, 2011 0 Comments

Fashion retailer Nordstrom, Inc. ( JWN ) late Thursday said its fourth quarter profit surged 35% from last year, beating analyst estimates, as the company announced the acquisition of discount luxury website HauteLook. The Seattle-based company reported fourth quarter net income of $232 million, or $1.04 per share, compared with $172 million, or 77 cents per share, in the year-ago period. Revenue rose 10% from last year to $2.92 billion. On average, Wall Street analysts expected a smaller profit of 99 cents per share, on lower revenue of $2.83 billion. Looking ahead, the company forecast full-year 2011 earnings to range from $2.95 to $3.10 per share. Analysts currently expect $3.04 per share for the year. In a separate announcement, Nordstrom said it would buy discount luxury goods website HauteLook for $180 million in stock. Nordstrom shares fell $1.27, or -2.7%, in premarket trading Friday. The Bottom Line Shares of Nordstom ( JWN ) have a 1.72% dividend yield, based on last night’s closing stock price of $46.48. The stock has technical support in the $40-$44 price area. If the shares can firm up, we see overhead resistance around the $50 price level. Nordstrom, Inc. ( JWN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Bank of America (NYSE:BAC) Weighed Down by Countrywide Acquisition

Bank of America (NYSE:BAC) continues to be held back by their acquisition of Countrywide, which brought with it huge exposure to the home loan market. That has resulted in another quarterly loss for the financial giant, which lost $1.2 billion for the quarter.Bad home loans were by far the major loss for the bank in the reporting period. The loss was driven by a $2 billion writedown related to

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Walter Energy Started as a “Buy” at Deutsche Bank (WLT)

Filed in dividend, Gold Investment, lead, o, shares, target by on January 11, 2011 0 Comments

Coal producer Walter Energy, Inc. ( WLT ) on Tuesday saw its coverage initiated with a “Buy” rating by analysts at Deutsche Bank. The firm also set a $162 price target on WLT, which implies a healthy 23% upside to the stock’s Monday closing price of $141.93. A Deutsche analyst commented, “The company is a leading exporter of met coal, with ~6m tons exported in 2009 and ~7m in 2010e. As well, it produces steam coal, natgas, coking coal and other products. Walter operates three key segments — Underground Mining (met coal), Walter Coke (coke), and Surface Mining (thermal coal). In April 2010, WLT announced several growth initiatives that aim to purchase new coal and natgas reserves, as well as expand existing projects. In November 2010, it announced the acquisition of Western Coal, a Canada-based met coal supplier that services the Asia-Pacific basin. Excluding contribution from Western Coal, we estimate that coal sales could reach 11m tons by 2012 from 7.5m tons in 2009, as the company has embarked on aggressive expansion plans. Additionally, we estimate that WLT could see 11 bcf in natgas production by 2012 from 6 bcf in 2009.” Walter Energy shares rose $2.07, or +1.6%, in premarket trading Tuesday. The Bottom Line We have been recommending shares of Walter Energy (

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DuPont to Buy Danisco for $6.3 Billion (DD)

Filed in Debt, dividend, Gold Bullion prices, o, shares by on January 10, 2011 0 Comments

Specialty chemicals giant DuPont Company ( DD ) on Monday said it has entered an agreement to buy Danish enzyme and good ingredients maker Danisco for a total of $6.3 billion. That price tag includes the assumption of $500 million in debt from Danisco. DuPont will pony up $5.8 billion in cash for the industrial biotechnology specialist. DuPont said it will finance the acquisition with around $3 billion in existing cash, with the remaining $2.8 billion financed with debt. The companies said they expect the transaction to be completed in the second quarter of this year. DuPont shares fell 75 cents, or 1.5%, in premarket trading Monday. The Bottom Line Shares of Dupont ( DD ) have a 3.30% dividend yield, based on Friday’s closing stock price of $49.76. The stock has technical support in the $44 price area. If the shares can firm up, we see overhead resistance around the $52-$53 price levels. DuPont Company ( DD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Magnum to Take Over NGAS Resources – Analyst Blog

Filed in BP, Debt, Gold Investing, o by on December 30, 2010 0 Comments

Magnum Hunter Resources Corporation announced the acquisition of NGAS Resources for approximately $98 million in stock and debt.

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New Bakken Acres in Hess Pie – Analyst Blog

Filed in BP, Gold Investing, o by on December 30, 2010 0 Comments

Hess Corporation said yesterday, that the company has completed the acquisition of additional acreages in the Bakken oil shale play in North Dakota.

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TD Bank to Buy Chrysler Financial for $6.3 Billion (TD)

Filed in ceo, dividend, earnings, Gold, o, shares by on December 21, 2010 0 Comments

Banking giant Toronto-Dominion Bank ( TD ) said Tuesday that it will acquire Chrysler Financial for $6.3 billion from Cerberus Capital Management. Chrysler Financial, the former financing arm of automaker the Chrysler Group, was forcibly restructured last year amid bailout activities by the U.S. government. The deal will consist of $5.9 billion in cash and roughly $400 million in goodwill. TD CEO Ed Clark said that “This transaction represents a unique opportunity to purchase a great organic growth platform at an attractive price. Chrysler Financial is a well-run business with the capacity for significantly higher returns over the next several years. This acquisition will allow us to leverage our lending expertise and financial strength to expand our presence in a large North American market with tremendous potential upside.” The transaction is expected to be completed in the first quarter of 2011, and is expected to add around $100 million in adjusted earnings in 2012. TD Bank shares were mostly flat in premarket trading Tuesday. The Bottom Line We have been recommending shares of TD Bank ( TD ) since July 20,2009, when the stock was trading at $53.65. The stock has a 3.34% dividend yield, based on last night’s closing stock price of $69.51. Toronto-Dominion Bank ( TD ) is a “Highly Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.8 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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MetLife Restarted as “Overweight” at Barclays (MET)

Filed in barclays, dividend, Gold Investing, o, shares by on November 15, 2010 0 Comments

Insurance giant MetLife, Inc. ( MET ) on Monday saw its coverage re-initiated with an “Overweight” rating by analysts at Barclays Capital. The firm also set a $52 price target on MET shares, which implies a 31% upside to the stock’s Friday closing price of $39.64. A Barclays analyst commented, “We are reinstating our OW rating on MetLife after suspending the rating last March due to Barclays Capital’s role. Barclays Capital acted as a financial advisor to MetLife on the acquisition of American Life Insurance Company (ALICO). We are also initiating a 2011 EPS estimate of $4.98 on Met…Our investment thesis on Met remains unchanged. For investors concerned about continued economic weakness, we believe Met offers the most diverse, and therefore the most stable, lineup of insurance businesses among large-cap life insurers.” MetLife shares were mostly flat in premarket trading Monday. The Bottom Line Shares of Metlife ( MET ) have a 1.87% dividend yield, based on Friday’s closing stock price of $39.64. The stock has technical support in the $36-$37 price area. If the shares can firm up, we see overhead resistance around the $43-$44 price levels. MetLife, Inc. ( MET ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Hidden Cash

Filed in Gold Investing, o, silver by on November 10, 2010 0 Comments

Liberty Acquisition (LIA) was formed with the intent of buying a business operation. As such, it is flush with cash. You wouldn’t know it by looking at stock screeners, however: both Yahoo and Google Finance show the company as having just $7 million …

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Silvercorp Metals (SVM): From Canada to China

Filed in Bank Gold, commodities, Gold, silver, Silvercorp by on October 18, 2010 0 Comments
Silvercorp Metals (SVM): From Canada to China

Filed under: International Markets , China , Newsletters , Canada , Commodities , Stocks to Buy “You’ve undoubtedly noticed gold’s run up; but you may have missed the serious gains coming from gold’s underappreciated sister — silver,” suggests Keith Fitz-Gerald . The editor of The New China Trader explains, “To play this trend, we are buying Silvercorp Metals ( SVM ), which engages in the acquisition, exploration, development, and operation of silver mining properties in Canada and China. Continue reading Silvercorp Metals (SVM): From Canada to China Silvercorp Metals (SVM): From Canada to China originally appeared on BloggingStocks on Mon, 18 Oct 2010 13:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Statoil Forms JV in South Texas – Analyst Blog

Filed in Gold Investing, silver by on October 11, 2010 0 Comments

Statoil and Talisman Energy entered into a definitive agreement to form a 50/50 joint venture for the acquisition of additional acreages in Eagle Ford Shale play.

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Converge Global Inc. (CVRG.PK) is “One to Watch”

Filed in Gold, Gold Investing, Gold Prices by on October 11, 2010 0 Comments

Converge Global, Inc., a junior mining company, engages in the acquisition, exploration and development of mining properties in North America containing principally gold as well as other precious metals. Their strategy is to maximize shareholder value through aggressive acquisitions of exploration properties in politically stable and secure regions that maintain mining-friendly policies and administrations. The

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