15 Most Overbought S&P 500 Stocks
Stocks continued higher for the fourth week in a row as the major averages have already easily exceeded the most bullish Wall Street forecasts for the entire year. All of the major averages are all showing double-digit gains, which was suggested in late 2012 by the upside breakout of the NYSE A/D line.
05/20/2013 11:56:56am
Levin Rips Apple's 'Holy Grail' Of Tax Avoidance Ahead Of Cook Testimony
Apple claims it pays about one-sixth of income taxes U.S. corporations pay to the government, but Tim Cook is going to face tough questions on that front and others when he testifies before a Senate subcommittee Tuesday judging by remarks from the senators leading the hearing.
05/20/2013 05:25:17pm
Basquiat, Pollock, Lichtenstein: Are Trophy Art Works Good Investments?
Over $1 billion of post-war and contemporary art changed hands in New York last week, generating masses of headlines about record-breaking sales and record-breaking art. Larry Gagosian said that last week's evening sale of contemporary art at Christie's demonstrated "how broad the market is - as in deep pockets".
05/20/2013 04:45:45pm
American Capital Agency Corp (AGNC) Shares Cross Below Book Value
In trading on Monday, shares of American Capital Agency Corp (NASD: AGNC) crossed below their last reported book value ? defined as common shareholder equity per share ? of $28.93, changing hands as low as $28.90 per share. American Capital Agency Corp shares are currently trading down about 2.3% on the day. The chart below shows the one year performance of AGNC shares, versus its 50 and 200 day moving averages:
05/20/2013 04:34:39pm
Huntington Ingalls May Be The Safest Bet In The Defense Sector
Three years into a downturn in demand that may last for the rest of the decade, the defense industry is doing better than anyone could have predicted. Last week, fifth-ranked Pentagon supplier Northrop Grumman announced it would buy back 25% of its shares, and the company's share price rose to the highest level since George W. Bush was in the White House. Other big military contractors like Lockheed Martin and Raytheon have seen a similar run-up in their stocks.
05/20/2013 04:13:24pm
Cardinal Health Named Top Dividend Stock With Insider Buying and 2.54% Yield
In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money ? maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So when stocks turn up that see insider buying, and are also top ranked, investors are wise to take notice. One such company is Cardinal Health, Inc. (NYSE: CAH), which saw buying by Director Carrie Smith Cox.
05/20/2013 04:10:24pm
PG&E Corp.'s 1st Preferred Non-Redeemable Shares Cross 5% Yield Mark
In trading on Monday, shares of PG&E Corp.'s 5.5% 1st Preferred Non-Redeemable (AMEX: PCG.PRB) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.375), with shares changing hands as low as $27.40 on the day. This compares to an average yield of 4.31% in the "Utilities" preferred stock category, according to Preferred Stock Channel. As of last close, PCG.PRB was trading at a 8.70% premium to its liquidation preference amount, versus the average premium of 5.52% in the "Utilities" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com »
05/20/2013 04:09:28pm
Early IRA Withdrawal Creates Big Risks
You probably won't be surprised to hear that early IRA withdrawal is a major trend in retirement investing.
05/20/2013 03:49:23pm
Snag CLF 30.3% Cheaper Than Its Secondary?
Looking back to 95 days ago, Cliffs Natural Resources, Inc. (NYSE: CLF) priced a 9,000,000 share secondary stock offering at $29.00 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Monday, bargain hunters could buy shares of CLF and achieve a cost basis 30.3% cheaper than those buyers, with shares changing hands as low as $20.20 per share. It should be noted that investors at the secondary have collected $0.30/share in dividends since the time of their purchase, so they are currently down 29.3% on their purchase from a total return basis.
05/20/2013 03:15:18pm
Top Buys by Directors: Heneghan's $101.4K Bet on NTLS
The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money ? maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $101.4K by Daniel Heneghan, Director at NTELOS Holdings Corp (NASD: NTLS).
05/20/2013 03:09:52pm
'New Era' For Art Markets As Collectors Drop Half A Billion At Christie's Contemporary Sale
It seems that it?s not just the stock market that is firing on all cylinders, breaking record after record. Last week, Christie?s marquee post-War and contemporary art sale fetched a record $495 million, with more than nine works selling for over $10 million. Amid a stagnating global economy and high unemployment, the ultra-rich are raising the stakes on so-called alternative investments like art and real estate, prompting a prominent Christie?s executive to speak of ?a new era in the market.?
05/20/2013 02:59:36pm
Daily Wrap: May 20, 2013
It was a mostly mixed day of trading on Wall Street with stocks trading lower in the afternoon as investors appeared to remain on the sidelines amid worries over the Federal Reserve's quantitative easing program coming to an end.
05/20/2013 02:41:35pm
See How Discover Financial Services Ranks Among Analysts' Top Picks With Strong Buyback Activity
A study of analyst recommendations at the major brokerages shows that Discover Financial Services (NYSE: DFS) is the #20 broker analyst pick among those stocks screened by The Online Investor for strong stock buyback activity. To make that list, a stock must have repurchased at least 5% of its outstanding shares over the trailing twelve month period. In forming the rank, the analyst opinions from the major brokerage houses were tallied, and averaged; then, the list of stocks with strong buyback activity was ranked according to those averages.
05/20/2013 02:31:03pm
Goodyear Tire & Rubber Co.'s Mandatory Convertible Preferred Stock Yield Pushes Past 6%
In trading on Monday, shares of Goodyear Tire & Rubber Co.'s 5.875% Mandatory Convertible Preferred Stock (NASD: GTPPP) were yielding above the 6% mark based on its quarterly dividend (annualized to $2.9375), with shares changing hands as low as $48.78 on the day. As of last close, GTPPP was trading at a 1.38% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of 2.7454 to 3.4317.
05/20/2013 02:29:10pm
STAG Industrial's Series A Cumulative Redeemable Preferred Stock Yield Pushes Past 8%
In trading on Monday, shares of STAG Industrial Inc.'s 9.0% Series A Cumulative Redeemable Preferred Stock (NYSE: STAG.PRA) were yielding above the 8% mark based on its quarterly dividend (annualized to $2.25), with shares changing hands as low as $27.84 on the day. This compares to an average yield of 6.10% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, STAG.PRA was trading at a 13.28% premium to its liquidation preference amount, versus the average premium of 5.74% in the "Real Estate" category.
Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com »
05/20/2013 02:28:09pm
Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series E Shares Cross 4% Yield Mark
In trading on Monday, shares of Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series E (NYSE: BAC.PRE) were yielding above the 4% mark based on its quarterly dividend (annualized to $0.9889), with shares changing hands as low as $24.70 on the day. This compares to an average yield of 5.02% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BAC.PRE was trading at a 0.60% discount to its liquidation preference amount, versus the average premium of 4.49% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.
Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com »
05/20/2013 02:27:17pm
Sterling Bancorp's Cumulative Trust Preferred Securities Shares Cross 8% Yield Mark
In trading on Monday, shares of Sterling Bancorp's 8.375% Cumulative Trust Preferred Securities (NYSE: STL.PRA) were yielding above the 8% mark based on its quarterly dividend (annualized to $0.8375), with shares changing hands as low as $10.30 on the day. This compares to an average yield of 5.02% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, STL.PRA was trading at a 6.60% premium to its liquidation preference amount, versus the average premium of 4.49% in the "Financial" category.
Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com »
05/20/2013 02:26:29pm
Urstadt Biddle Properties Series D Senior Cumulative Preferred Stock Yield Pushes Past 7%
In trading on Monday, shares of Urstadt Biddle Properties Inc's 7.5% Series D Senior Cumulative Preferred Stock (NYSE: UBP.PRD) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.875), with shares changing hands as low as $26.47 on the day. This compares to an average yield of 6.10% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, UBP.PRD was trading at a 8.68% premium to its liquidation preference amount, versus the average premium of 5.74% in the "Real Estate" category.
Click here to find out the 50 highest yielding preferreds, at PreferredStockChannel.com »
05/20/2013 02:25:42pm
Alteva Named Top Dividend Stock With Insider Buying and 10.81% Yield
In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money ? maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So when stocks turn up that see insider buying, and are also top ranked, investors are wise to take notice. One such company is Alteva (AMEX: ALTV), which saw buying by CEO David Cuthbert.
05/20/2013 02:24:28pm
Analyst Moves: RRC, PCLN, LOW
Stifel Nicolaus downgraded shares of Range Resources (RRC) from buy to hold citing valuation.
05/20/2013 02:20:08pm
Analyst Moves: ABT, ACN, EFX, JCP
Goldman Sachs (GS) upgraded shares of Abbott Labratories (ABT) from neutral to buy citing growth of margin expansion. Additionally Goldman upgraded Accenture (ACN) shares to buy placing a $90 target price. On Friday, Accenture (ACN) announced they are buying Acquity Group Ltd. (AQ), a leading digital marketing and eCommerce company.
05/20/2013 02:12:09pm
P.M. Kitco Metals Roundup: Gold, Silver Post Dramatic Late-Day Price Rebounds To End Higher
(Kitco News) - Comex gold and silver futures prices suddenly surged higher near midday Monday, to reverse early, substantial losses and then ended the U.S. day session higher and near their daily highs. Heavy short covering and bargain hunting were featured during the precious metals? turnarounds. The key ?outside markets? were also in a bullish posture for gold and silver Monday, as the U.S. dollar index was lower and crude oil prices were higher. Gold on Monday ended a seven-session losing streak, while silver posted technical action that now hints it has put in a near-term market bottom. Comex June gold last traded up $18.70 at $1,383.00 an ounce. Spot gold was last quoted up $24.80 at $1,385.50. July Comex silver last traded up $0.313 at $22.67 an ounce.
05/20/2013 02:04:53pm
Monday 5/20 Insider Buying Report: LPSN, FTEK
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
05/20/2013 01:59:13pm
Monday's ETF with Unusual Volume: DTN
The WisdomTree Dividend ex-Financials Fund ETF (DTN) is seeing unusually high volume in afternoon trading Monday, with over 168,000 shares traded versus three month average volume of about 65,000. Shares of DTN were trading flat on the day.
05/20/2013 01:54:51pm
