Q3 2018 Earnings Estimate for MutualFirst Financial, Inc. (MFSF) Issued By DA Davidson

MutualFirst Financial, Inc. (NASDAQ:MFSF) – Stock analysts at DA Davidson increased their Q3 2018 earnings per share (EPS) estimates for shares of MutualFirst Financial in a research report issued to clients and investors on Monday, July 30th. DA Davidson analyst K. Reevey now forecasts that the bank will earn $0.68 per share for the quarter, up from their previous forecast of $0.62. DA Davidson has a “Neutral” rating on the stock. DA Davidson also issued estimates for MutualFirst Financial’s Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $2.55 EPS and FY2019 earnings at $2.79 EPS.

Get MutualFirst Financial alerts:

A number of other research firms also recently weighed in on MFSF. Zacks Investment Research raised shares of MutualFirst Financial from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet downgraded shares of MutualFirst Financial from a “b” rating to a “c+” rating in a research report on Friday, July 27th. Five analysts have rated the stock with a hold rating, MutualFirst Financial currently has an average rating of “Hold” and a consensus price target of $41.00.

NASDAQ:MFSF opened at $38.05 on Thursday. The company has a market cap of $329.28 million, a price-to-earnings ratio of 19.92, a PEG ratio of 3.16 and a beta of 0.14. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.96 and a quick ratio of 0.96. MutualFirst Financial has a fifty-two week low of $33.06 and a fifty-two week high of $40.50.

MutualFirst Financial (NASDAQ:MFSF) last released its earnings results on Wednesday, July 25th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $21.41 million during the quarter, compared to the consensus estimate of $20.10 million. MutualFirst Financial had a net margin of 15.56% and a return on equity of 10.36%.

In other news, insider Charles J. Viater sold 775 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $37.89, for a total transaction of $29,364.75. Following the completion of the sale, the insider now owns 177,745 shares of the company’s stock, valued at approximately $6,734,758.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles J. Viater sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $37.57, for a total transaction of $93,925.00. Following the sale, the insider now directly owns 180,045 shares of the company’s stock, valued at approximately $6,764,290.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,053 shares of company stock valued at $380,765. Insiders own 11.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of MFSF. Wells Fargo & Company MN grew its position in MutualFirst Financial by 59.4% in the 4th quarter. Wells Fargo & Company MN now owns 15,074 shares of the bank’s stock valued at $581,000 after purchasing an additional 5,619 shares during the period. Bank of New York Mellon Corp grew its position in MutualFirst Financial by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 31,437 shares of the bank’s stock valued at $1,212,000 after purchasing an additional 3,783 shares during the period. BlackRock Inc. grew its position in MutualFirst Financial by 1.1% in the 4th quarter. BlackRock Inc. now owns 318,583 shares of the bank’s stock valued at $12,283,000 after purchasing an additional 3,509 shares during the period. Renaissance Technologies LLC grew its position in MutualFirst Financial by 3.7% in the 4th quarter. Renaissance Technologies LLC now owns 206,500 shares of the bank’s stock valued at $7,961,000 after purchasing an additional 7,404 shares during the period. Finally, Deutsche Bank AG grew its position in MutualFirst Financial by 17.0% in the 4th quarter. Deutsche Bank AG now owns 36,365 shares of the bank’s stock valued at $1,399,000 after purchasing an additional 5,292 shares during the period. 42.73% of the stock is owned by institutional investors and hedge funds.

About MutualFirst Financial

MutualFirst Financial, Inc operates as the bank holding company for MutualBank that provides various financial services in the United States. It accepts savings deposit, NOW, and demand accounts, as well as certificates of deposit. The company offers one-to four-family residential property, commercial real estate, construction and development, and commercial business loans; consumer loans, such as auto loans, boat and recreational vehicle loans, loans secured by savings deposits, and credit card and unsecured consumer loans; and adjustable rate loans.

Read More: Trading Strategy Methods and Types

TerraNova (TER) Trading Up 0.3% This Week

TerraNova (CURRENCY:TER) traded up 16.4% against the US dollar during the 1-day period ending at 18:00 PM E.T. on July 22nd. One TerraNova coin can now be bought for about $1.64 or 0.00022122 BTC on popular exchanges including Livecoin, CoinExchange and Cryptopia. Over the last seven days, TerraNova has traded 0.3% higher against the US dollar. TerraNova has a market cap of $0.00 and $669.00 worth of TerraNova was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed over the last 24 hours:

Get TerraNova alerts: TokenPay (TPAY) traded down 1% against the dollar and now trades at $3.67 or 0.00049657 BTC. GoNetwork (GOT) traded 3.8% higher against the dollar and now trades at $0.55 or 0.00007412 BTC. Nectar (NEC) traded down 1% against the dollar and now trades at $0.32 or 0.00004302 BTC. SaluS (SLS) traded down 3.2% against the dollar and now trades at $25.20 or 0.00340839 BTC. HempCoin (THC) traded 8.2% lower against the dollar and now trades at $0.0726 or 0.00000983 BTC. Linda (LINDA) traded 1.7% lower against the dollar and now trades at $0.0016 or 0.00000022 BTC. ECC (ECC) traded down 22.5% against the dollar and now trades at $0.0005 or 0.00000007 BTC. VeriCoin (VRC) traded down 1.7% against the dollar and now trades at $0.31 or 0.00004196 BTC. ToaCoin (TOA) traded down 7% against the dollar and now trades at $0.0031 or 0.00000041 BTC. Gambit (GAM) traded 10.1% higher against the dollar and now trades at $6.17 or 0.00083506 BTC.

About TerraNova

TER is a PoW/PoS coin that uses the Scrypt hashing algorithm. It was first traded on May 24th, 2017. TerraNova’s total supply is 1,058,739 coins. TerraNova’s official Twitter account is @TerraNovaCoin. TerraNova’s official website is terranovacoin.wixsite.com/terranova-ter.

TerraNova Coin Trading

TerraNova can be traded on these cryptocurrency exchanges: Livecoin, CoinExchange and Cryptopia. It is usually not presently possible to buy alternative cryptocurrencies such as TerraNova directly using US dollars. Investors seeking to acquire TerraNova should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy TerraNova using one of the exchanges listed above.

One Family Controls Who Will Be Next CEO of Fiat Chrysler

Fiat Chrysler Automobiles N.V. (NYSE: FCAU) and Ferrari N.V. (NYSE: RACE) CEO Sergio Marchionne will not return to his posts following a hospital stay of several weeks, according to sources who spoke to Bloomberg. The boards of both companies are meeting Saturday to name replacements for Marchionne, who has been Fiat’s CEO since 2004 and Ferrari’s since it was spun off in 2015.

The decision to replace the 66-year old Marchionne, who was scheduled to retire next year, was made by John Elkann, FCA��s board chair and the scion of the Agnelli family that owns a controlling stake of nearly 50% of the voting power of FCA through its Netherlands-based holding company Exor.

The firm also controls CNH Industrial, a maker of agricultural equipment; Juventus FC, a top Italian soccer club; The Economist Group, publishers of the Economist magazine; and insurance company Partner Re. Exor sold real-estate brokerage firm Cushman & Wakefield to private equity firm TPG for $2 billion in 2015. TPG is currently shopping an IPO for Cushman & Wakefield that values the company at $6 billion, including debt.

According to Bloomberg’s report, Elkann will take over as chair of FCA and current FCA Chief Financial Officer Richard Palmer is a leading candidate to replace Marchionne as chief executive officer.

Elkann, 42, was handpicked as heir to the Agnelli fortune by his grandfather, the late Gianni Agnelli, who built the Fiat empire. Elkann was appointed to Fiat’s board in 1997 when he was just 21 years old and became vice-chair when his grandfather died in 2003. Exor was formed in 2009 to handle the Agnelli family business.

According to its 2017 annual report, Exor reported net revenues of ��143.43 billion, pretax profit of ��7.76 billion and net profit attributable to owners of the parent firm of ��$1.39 billion. The company’s stake in FCA amounts to 42.34% of voting rights, and its voting share of Ferrari totals 32.75%.

Ferrari board member and former chair of Philip Morris International, Louis Carey Camilleri, will be Ferrari’s new CEO, according to a Bloomberg source. Camilleri, 61, made headlines last year as the “tobacco tycoon millionaire boyfriend” of supermodel Naomi Campbell.

Marchionne also holds positions as chair of CNH Industrial and non-executive vice-chair of Exor. A replacement for Marchionne at CNH is also expected to be announced Saturday.

ALSO READ: 5 Stocks Trading Under $10 With Huge Upside Potential

Astro (ASTRO) Hits 24-Hour Volume of $621.00

Astro (CURRENCY:ASTRO) traded up 6.9% against the US dollar during the 1 day period ending at 23:00 PM Eastern on July 17th. Astro has a market cap of $4.09 million and $621.00 worth of Astro was traded on exchanges in the last 24 hours. During the last week, Astro has traded up 20.6% against the US dollar. One Astro token can currently be bought for $1.24 or 0.00016632 BTC on major cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed during the last 24 hours:

Get Astro alerts: XRP (XRP) traded 8.2% higher against the dollar and now trades at $0.52 or 0.00006930 BTC. Stellar (XLM) traded up 13.7% against the dollar and now trades at $0.27 or 0.00003574 BTC. IOTA (MIOTA) traded up 6.4% against the dollar and now trades at $1.16 or 0.00015487 BTC. TRON (TRX) traded 10.1% higher against the dollar and now trades at $0.0410 or 0.00000547 BTC. Tether (USDT) traded down 0.7% against the dollar and now trades at $0.99 or 0.00013253 BTC. NEO (NEO) traded 8% higher against the dollar and now trades at $40.08 or 0.00534756 BTC. Binance Coin (BNB) traded up 3.7% against the dollar and now trades at $13.69 or 0.00182657 BTC. VeChain (VET) traded up 6.7% against the dollar and now trades at $2.05 or 0.00027312 BTC. 0x (ZRX) traded up 15.7% against the dollar and now trades at $1.31 or 0.00017505 BTC. Zilliqa (ZIL) traded 14.7% higher against the dollar and now trades at $0.0880 or 0.00001174 BTC.

About Astro

Astro’s launch date was September 20th, 2017. Astro’s total supply is 6,999,999 tokens and its circulating supply is 3,313,833 tokens. The official website for Astro is astronaut.capital. Astro’s official Twitter account is @astronautcap. Astro’s official message board is medium.com/astronaut-capital. The Reddit community for Astro is /r/astronautcapital.

Astro Token Trading

Astro can be bought or sold on the following cryptocurrency exchanges: EtherDelta (ForkDelta). It is usually not currently possible to buy alternative cryptocurrencies such as Astro directly using US dollars. Investors seeking to trade Astro should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Astro using one of the aforementioned exchanges.

Why Stitch Fix Inc. Stock Popped Today

What happened

Shares of�Stitch Fix�(NASDAQ:SFIX)�were up 10.6% as of 10:45 a.m. EDT Tuesday after KeyBanc analyst Ed Yruma initiated coverage on the stock at overweight with a $38 price target. The personalized apparel specialist closed Monday at just above $31 per share.

Image source: Stitch Fix.

So what

To justify his optimism, Yruma argued that Stitch Fix's focus on data represents "a significant advantage relative to the traditional apparel/retail competitive set, and allows it to build a scalable, yet highly human, recommendation model."

As such, he believes that Stitch Fix will continue to take market share with its core women's segment, while its supplementary men's, plus-sized, and kids offerings provide opportunities to further accelerate growth.�

Now what

For perspective, the company only just launched its men's division, Stitch Fix Men, in late 2016, followed by Stitch Fix Plus early last year.��And the upcoming launch of Stitch Fix Kids was announced along with Stitch Fix's strong quarterly report early last month, in which the company said that its number of active clients had climbed 30% year over year to 2.7 million. Indeed, if Stitch Fix is able to sustain that momentum as more consumers turn to its increasingly popular services, its recent gains could be just the beginning.

Cramer: The real cause of the bank stocks' weakness isn't the yield curve��it's trade

For CNBC's Jim Cramer, the biggest shocker of Monday's rally wasn't the Dow Jones Industrial Average's 300-plus-point climb or the market's ability to shrug off trade war fears. It was the bank stocks' performance.

The rallies in shares of J.P. Morgan Chase, Citigroup, Wells Fargo, Bank of America, Goldman Sachs and Morgan Stanley sent the financial sector up at least 2.5 percent. Monday marked the best day for the cohort since March 26, based on the SPDR S&P Bank ETF (KBE).

"There's nothing like a big up day to find out what's really going on," the "Mad Money" host said on Monday.

Until recently, much of Wall Street was writing off the bank stocks' weakness as a casualty of the flattening yield curve, Cramer said. Money managers were making the calculation that if interest rates were similar for long-term and short-term loans, banks would shy away from longer-term lending, a key line of business for the big banks.

"However, today��s stunning action suggests that China��s been weighing far more heavily on the banks than we thought," Cramer said. "We can only conclude that these stocks have also been caught up in the world trade woes."

Last Thursday, the United States and China exchanged $34 billion worth of tariffs on each other's goods, escalating their tit-for-tat spat to trade war levels.

The move put pressure on much of the market ahead of Friday's non-farm employment report from the U.S. Labor Department, which provided some momentary reprieve for stocks knocked off their highs by tariff worries.

But as the bank cohort rallied on Monday after several days of calm in the Washington-Beijing trade dispute, Cramer realized that the banks, too, had been dragged into the global economic conflict.

"That��s right, despite the fact that volatility from the ebb and flow of trade is good for the investment banks, it��s clear that investors perceive these stocks as being levered to the global economic expansion �� same thing goes for the trading arms of the regular banks �� and that expansion is jeopardized by tariffs and trade barriers," the "Mad Money" host said.

But Cramer wasn't exactly on board with that theory.

He said that Wells Fargo �� shares of which rose 1.57 percent in Monday's trading session �� had little international exposure and was primed for an "excellent" earnings report on Friday. He also highlighted Citigroup as a particularly good buy due to its 7 percent share buyback.

"The banks are the cheapest relative to their earnings I have seen in almost 40 years of investing," Cramer said. "What is the deal?"

"I don��t think people recognize how much money the banks can make in this environment or how well they��ve tended to trade after the Fed��s annual stress tests," he added. "My judgment? The big banks are all buys."

And even after Monday's rally, Cramer suggested circling back to high-quality prospects like these to find the ones trading at deep discounts.

WATCH: Cramer deciphers Monday's rally show chapters Cramer: The real cause of the bank stocks' weakness isn't the yield curve—it's trade    49 Mins Ago | 11:08

Disclosure: Cramer's charitable trust owns shares of J.P. Morgan Chase, Citigroup and Goldman Sachs.

Questions for Cramer? Call Cramer: 1-800-743-CNBC Want to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

Loans: Best and worst ways to borrow money

If you��re like most people, chances are you��ll need a loan at some point to make ends meet.

Over the past few decades, Americans have taken on increasing amounts of debt to get by. About 80 percent of American households now hold some form of debt, according to the�Pew Charitable Trusts' survey of American family finances. And less than half, or 46 percent, reported making more than they spend.

But when you are short on cash, not all types of borrowing are created equal. Here are some of the best and worst loans out there.

More: 9 things to know about your credit score and how it's calculated

More: Personal savings: 40 pretty easy ways to spend less money

More: 401(k) limits: 7 answers to your top retirement plan questions

A pile of four different credit cards. (Photo: Getty Images)

Credit cards

Credit cards are one of the most common �� and also one of the most expensive �� ways to borrow money. Because card issuers charge much higher interest rates than other types of lenders, carrying a credit card balance can quickly escalate out of control.

Currently, credit card rates are at a record high, at an average of about 17 percent, according to Bankrate, and the average American has a credit card balance of $6,375, up nearly 3 percent from last year, according to�Experian's annual study on the state of credit and debt in America.

.oembed-asset-photo-image { width: 100%; }

Good credit card management boils down to making payments on time and relying on revolving credit only in limited situations, according to Greg McBride, Bankrate.com's chief financial analyst.

If you are planning a big purchase, like a large appliance for example, a zero-introductory credit card offer could be a worthwhile way to secure a short-term loan with no interest, as long as the purchase is paid off by the time the introductory period ends, he said.

Otherwise, only buy things with plastic that you can afford to pay off at the end of the month.

More: How to get a credit card when you've never had one

Home equity

Before the Great Recession and the historic housing crash, homeowners used their homes to access as much cash as the bank would allow. But borrowers who were burned by falling housing prices, not to mention today's tighter lending standards, are considerably more wary now when it comes to home equity loans and lines of credit �� despite the more favorable terms.

Still, the amount of equity today's homeowners are able to tap is at�the highest level on record.

One of the most common ways to tap that equity is through a cash-out refinance (which is when you refinance your current mortgage and take out a bigger mortgage) or a home equity loan.

A home equity loan can be withdrawn as a lump sum with a fixed rate and a repayment period generally of five to 15 years or as a home equity line of credit with a variable rate.

The average interest rate on a home equity loan is 5 percent to 6 percent, but under the new tax law the money must be used to improve your home, otherwise the interest is not tax deductible.

More: Home equity hits record high, and here's how homeowners are spending it

CLOSE

Summer season means outdoor fun but it��s important to avoid getting caught up in all the excitement when it comes to summer spending. Buzz60's Maria Mercedes Galuppo has more. Buzz60

Personal loans

Personal loans, or unsecured loans, do not require borrowing against something of value, like a house, which makes them particularly attractive for those without that kind of equity. However, that generally means the loans are available at a higher interest rate than a home equity loan.

Personal loans are also locked in over shorter terms, like one to five years, and payments are generally automatically deducted from a checking account, which decreases the odds of missing a payment or defaulting.

Personal loans are well suited for smaller loan amounts than a typical home equity loan, but more than one would want to run up on credit cards �� generally, anything up to $35,000.

A number of online lenders, like Lending Club and Prosper, have popped up in recent years to offer these types of loans as another way to borrow money, particularly for millennials who may want to consolidate their debt but don't have the home equity for a secured loan to do it.

The average interest rate on an unsecured loan is currently about 11 percent, according to Bankrate, although those with very good credit can get a rate as low as 5.5 percent. That's notably less than the APR on a credit card.

More: Credit card debt vs. 401(k) investing: Which should you focus your financial resources on?

Borrowing from retirement plans (Photo: USA TODAY)

Tapping a 401(k)

Although many financial advisors say 401(k) loans should be off-limits entirely, federal law allows workers to borrow up to 50 percent of their account balance, with a maximum of $50,000.

Borrowers then have up to five years to pay back their loan, which comes with an interest rate that typically is lower than other with other borrowed money, such as credit cards.

“A 401(k) loan sounds innocent enough, but it is a permanent setback to your retirement planning.”

Greg McBride, Bankrate's chief financial analyst

There is a significant downside to borrowing from your own retirement account. ��A 401(k) loan sounds innocent enough, but it is a permanent setback to your retirement planning,�� McBride said.

��You spend resources replacing money you borrowed instead of making new contributions, and you miss out on potential capital gains, dividends and interest income during the time the loan in outstanding.��

On top of that, if you leave your employer, by choice or otherwise, the loan balance will be due within 90 days.

漏�CNBC�is a USA TODAY content partner offering financial news and commentary. Its content is produced independently of USA TODAY.

More from CNBC:

Why squirreling away every spare dime into your 401(k) is a bad idea

This move is almost as bad for your retirement savings as the Great Recession was

July Fourth car shopping? Avoid these five big mistakes

Hot Undervalued Stocks To Invest In Right Now

tags:VTV,SEE,OBAS,CHCO,ITI,

Dividend investors have no fewer than 41 high-quality undervalued blue-chip stocks to choose from.

That��s according to Investment Quality Trends, a dividend stock advisory service edited by Kelley Wright. According to my firm��s performance tracking, it is one of the best-performing investment newsletters over the long term, beating the broad U.S. stock market by a large margin. In addition, it is in first place for risk-adjusted performance over both the trailing 20- and 30-year periods among services I monitor.

Hot Undervalued Stocks To Invest In Right Now: Vanguard Value ETF (VTV)

Advisors' Opinion:

• [By Logan Wallace]

  Dynamic Advisor Solutions LLC bought a new stake in Vanguard Value ETF (NYSEARCA:VTV) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,421 shares of the company’s stock, valued at approximately $353,000.

Hot Undervalued Stocks To Invest In Right Now: Sealed Air Corporation(SEE)

Advisors' Opinion:

• [By Shane Hupp]

  Celanese (NYSE: CE) and Sealed Air (NYSE:SEE) are both basic materials companies, but which is the superior business? We will contrast the two businesses based on the strength of their profitability, dividends, institutional ownership, risk, valuation, earnings and analyst recommendations.

• [By Max Byerly]

  Get a free copy of the Zacks research report on Sealed Air (SEE)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Logan Wallace]

  Press coverage about Sealed Air (NYSE:SEE) has been trending somewhat positive on Saturday, Accern Sentiment reports. The research group rates the sentiment of media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Sealed Air earned a coverage optimism score of 0.17 on Accern’s scale. Accern also gave media stories about the industrial products company an impact score of 46.2252752608154 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

• [By Max Byerly]

  State of New Jersey Common Pension Fund D lessened its holdings in shares of Sealed Air (NYSE:SEE) by 16.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 50,000 shares of the industrial products company’s stock after selling 10,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sealed Air were worth $2,140,000 as of its most recent SEC filing.

• [By Logan Wallace]

  Shares of Seeing Machines Limited (LON:SEE) rose 17.3% during mid-day trading on Tuesday . The stock traded as high as GBX 9.70 ($0.13) and last traded at GBX 9.15 ($0.12). Approximately 28,492,209 shares traded hands during mid-day trading, an increase of 461% from the average daily volume of 5,080,000 shares. The stock had previously closed at GBX 7.80 ($0.10).

Hot Undervalued Stocks To Invest In Right Now: Optibase Ltd.(OBAS)

Advisors' Opinion:

• [By Max Byerly]

  News headlines about Optibase (NASDAQ:OBAS) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Optibase earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 45.6853785900783 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Hot Undervalued Stocks To Invest In Right Now: City Holding Company(CHCO)

Advisors' Opinion:

• [By Ethan Ryder]

  Get a free copy of the Zacks research report on City (CHCO)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

Hot Undervalued Stocks To Invest In Right Now: Iteris, Inc.(ITI)

Advisors' Opinion:

• [By Lisa Levin] Gainers Red Violet, Inc. (NASDAQ: RDVT) rose 75.31 percent to close at $9.94 after reporting Q1 results. Euro Tech Holdings Company Limited (NASDAQ: CLWT) shares jumped 40.62 percent to close at $4.50 on Tuesday after reporting 2017 year-end results. MEI Pharma, Inc. (NASDAQ: MEIP) gained 34.39 percent to close at $3.40. MEDIGUS Ltd/S ADR (NASDAQ: MDGS) gained 32.74 percent to close at $1.50 in reaction to its Monday announcement of a distribution agreement. The medical device company said it reached an agreement to distribute its minimally invasive medical devices in Turkey, Azerbaijan and Georgia. Pfenex Inc. (NYSE: PFNX) surged 31.15 percent to close at $8.00 after the company announced the positive top-line PF708 study results in Osteoporosis patients that showed no imbalances in severity or incidence of adverse events. Arcadia Biosciences, Inc. (NASDAQ: RKDA) rose 21.07 percent to close at $11.09. Arcadia Biosciences reported that Albert D. Bolles, Ph.D. has joined its board of directors. Genprex, Inc. (NASDAQ: GNPX) rose 20.23 percent to close at $10.58. Turtle Beach Corporation (NASDAQ: HEAR) shares gained 17.62 percent to close at $17.82. Aptevo Therapeutics Inc. (NASDAQ: APVO) rose 17.1 percent to close at $5.82. Phoenix New Media Limited (NYSE: FENG) shares jumped 16.23 percent to close at $4.87 following Q1 earnings. Stein Mart, Inc. (NASDAQ: SMRT) rose 16.04 percent to close at $3.69. PPDAI Group Inc. (NASDAQ: PPDF) climbed 15.99 percent to close at $7.98 following Q1 results. Tyme Technologies, Inc. (NASDAQ: TYME) rose 15.93 percent to close at $3.42. LiqTech International, Inc. (NASDAQ: LIQT) gained 15.59 percent to close at $0.5532 following Q1 results. Sophiris Bio, Inc. (NASDAQ: SPHS) gained 13.92 percent to close at $3.52 on Tuesday following Q1 results. Euroseas Ltd. (NASDAQ: ESEA) jumped 13.4 percent to close at $2.37. Iteris, Inc. (NASDAQ: ITI) shares surged 13.05 percent to close
• [By Max Byerly]

  Iteris (NASDAQ:ITI) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Saturday.

  Several other research analysts have also commented on the company. JMP Securities initiated coverage on Iteris in a research report on Thursday, January 25th. They issued an “outperform” rating and a $10.50 price objective on the stock. B. Riley set a $9.00 price objective on Iteris and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, Zacks Investment Research lowered Iteris from a “hold” rating to a “sell” rating in a research report on Wednesday, April 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Iteris has a consensus rating of “Buy” and a consensus price target of $8.75.

• [By Shane Hupp]

  Get a free copy of the Zacks research report on Iteris (ITI)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

BYD Making Big Battery Investments, Tesla To Follow

BYD Co., Ltd. (OTCPK:BYDDY) (OTCPK:BYDDF) is the world's largest manufacturer of EVs (electric vehicles). It is also a major player in e-buses, e-trucks, solar panels, energy storage and batteries. In addition, last year it launched its "Skyrail" transit system. Founder and chairman Wang Chuanfu surprised the markets when he previously announced a planned ten-fold increase in revenues by 2025.

That would take revenue up to 1 trillion yuan (US$151 billion). Recent news illustrates how he intends to do this. It provides a great long-term stock Buy opportunity after the stock price has fallen in recent months.

A big new contract win for Tesla (NASDAQ:TSLA) illustrates the growth coming up for battery manufacturers. This has been hugely underestimated by Tesla bears.

New China Battery Plant Needs

BYD began life as a battery manufacturer in 1995. Its early business was for cell phones and laptop computers. Today it is the world's largest supplier of batteries for mobile phones. It is now going all-in to supply batteries not just for its own vehicles but for others in the industry.

At the end of June, the company partially opened its new battery factory in Xining, an area of China with substantial lithium reserves. This adds to its current factories in Shenzhen and Huizhou.

The cost of the factory is expected to hit US$1 billion. The company plans another US$1.5 billion battery investment by 2020. The Xining facility will have an annual capacity of 24 GWh in the first phase. BYD expects its capacity to rise to 60GWh by 2020.

The much-heralded Tesla gigafactory in Nevada is targeting to build up its capacity in the medium term to 50 GWh. It is estimated it currently has capacity of approximately 20 GWh. It has an ultimate target of 105GWh. Earlier this year the company stated once again it planned a factory in China. Given its capital constraints, the timing is still uncertain.

However, Panasonic (OTCPK:PCRFY) announced this week that it was happy to consider further investment in the Nevada facility. A similar move in China is not unlikely. Tesla expects to triple its energy storage business this year but its problem has been getting supply to meet the demand. Panasonic's announcement is probably connected to a very substantial energy storage contract win just announced by the company.

PG & E (Pacific Gas & Electric Co) has contracted with Tesla (subject to State approval) for an energy storage project in northern California. This would enable power for 4 hours using 3,000 Tesla Powerpack 2 batteries. It is likely to be extended later up to 1.1 GWh which would enable 8 hours of power. This new project at the Moss Bay substation in Monterey County would be on a similar basis to the world's largest battery installed by Tesla. That was at the Hornsdale Power Reserve at Jamestown in South Australia.

That project has been very successful, both in the split second timing it takes to kick in, and in the 90% cost reduction over fossil fuel power station back-up. My previous article detailed some of these successes, and the future potential elsewhere in Australia. As in the USA, much of the impetus for business is coming from individual States rather than from central government.

It is believed Panasonic contributed about US$1.6 billion to the original US$5 billion investment in the Nevada plant. The bears have consistently underestimated Tesla's potential for getting more investment dollars.

It is well known that Tesla has been negotiating for a gigafactory in Shanghai. Panasonic and Tencent (OTCPK:TCEHY) are both potential capital-raising partners. Those who say Tesla is failing in China are wrong. Its sales figures illustrate this:

2015 = US$318.5 million.

2016 = US$1.07 billion.

2017 = US$2.03 billion.

The illustration below emphasises the increasing importance of China for Tesla:

Bloomberg

However, to get the economies of scale needed, Tesla needs a large presence within China. The same is true of Europe. It needs to be less reliant on a U.S. market where new energy products may develop less rapidly than elsewhere for political reasons. It may be that individual States in the USA will continue to drive the business. However, because of the U.S. government's environmental policies, China is the long-term golden opportunity. As my article in November detailed, Asia is now the world's largest market for renewables. It is not just China. Huge opportunities arise in India, Japan and elsewhere in the world's most populous and fastest-growing continent.

The detail below from the World Bank is telling:

World Bank

This explains why BYD and others are investing rapidly in new battery gigafactories. It does not of course take into account the rapid rise in demand that will be necessitated by EVs as well.

CATL has been a fast-growing new battery manufacturer in China. It is the country's largest. It is currently building a new 24GWh factory. By 2020, it is expected to have 88GWH capacity. By comparison, BYD will have 60 GWh by then. Some observers reckon BYD missed a beat by allowing CATL to overtake it in size. However, it should be noted that BYD has been investing in many new areas. This includes the Skytrain business and overseas e-bus and e-truck factories.

BYD's current battery manufacturing capacity totals 16 GWh. That is enough to power 1.2 million hybrids. With the Xining facility, battery capacity by 2020 should amount to supply to 2.2 million EVs. That would be about US$24 billion in sales revenue in two years. With revenue forecast for US$21.5 billion this year, that could lead to a doubling in revenue by 2020. That would put the company partly on its way to targeting a ten-fold increase by 2025 as battery production ramps up.

BYD has the advantage of meeting its own usage in both cars and new energy products. It is now targeting supplying increasingly to outside companies. The Chinese Government has a target for EV sales to reach 2 million by 2020.

Currently, BYD manufactures prismatic LiFEPO4 (lithium ferrophosphate) cells. These differ from the standard auto industry NCA (nickel, cobalt and aluminium) and NMC (nickel, manganese and cobalt) cells. These have lower conductivity than some other types but are low in toxicity and have stable long-term performance. Next year it is expected it will start manufacturing its new more advanced NMC811 battery. Other new types are under development.

China is winning dominance of the industry from source. Chinese companies are winning control of the world's cobalt supplies, which mainly come from the Congo. Four-fifths of cobalt sulphates and oxides for cathodes used in lithium batteries are manufactured in China. It is estimated that the use of cobalt in EVs will rise from 9,000 tonnes in 2017 to 107,000 tonnes in 2026. Additionally, BYD has invested in a lithium processing venture in Qinghai.

Second Life Battery Capacity

Lithium batteries will have a long potential life after their usage in EVs has expired. This has been calculated to be a potential US$550 billion industry in the future. 3.4 million lithium battery packs will be recycled annually by 2025. That number will rise exponentially as EV usage increases. The expected usage is illustrated below:

Bloomberg

Autos have become the largest users of lithium batteries, overtaking consumer electronics. The breakdown of usage is illustrated below:

Bloomberg

As my recent article on e-buses detailed, BYD is a world leader in e-buses as well as being the world's largest EV auto manufacturer. So it will have huge capacity of second use lithium batteries in the near future. Far more cells are used in e-buses than autos. The company is opening a battery recycling plant in Shanghai. This is partly in response to Chinese Government directives concerning EV battery waste. It is also an economic opportunity.

Used batteries can be recovered and stripped down for their valuable metals. For BYD, a more likely option is large-scale usage for energy storage. Battery cells are the main cost in energy storage systems. So this should be a profitable business for BYD. When the batteries are no longer efficient for EV use, they still have 60% to 70% charge remaining. This would remain fairly constant for a long period of time. The relative value of the metals in the cells would be very low compared to what is likely to be continuing rising cost of minerals for new batteries.

The company has been expanding strongly into residential and commercial (up to grid scale) energy storage solutions, especially in Europe and Asia. It recently showcased a whole new modular range for the European market. Like Tesla, it has targeted Australia in the last year or so. My article in November last year detailed the huge opportunities for companies such as BYD and Tesla in this arena.

BYD also has a thriving solar panel business on an international scale. A recent indication of this was its US$30 million contract in Queensland for a 75 MW PV project. This shows the synergies in a country where BYD is very actively promoting its energy storage business.

Battery Plants in Europe

It has been reported that BYD is looking to set up a battery plant in Europe. It already has e-bus plants in Hungary and France, and a joint venture plant in the U.K.

A recent EU policy document calculated that the EU would need 22GWh by 2025. That would be equivalent to ten gigafactories. The EU has been discussing incentives for huge plants with the major battery players. So far there has been a lack of firm contracts. The EU has a target of getting 50% of its energy needs from renewables by 2030. So the demand for batteries in the next decade will be huge.

A report last week suggested Tesla is close to signing up for a 129 MWh battery to power a huge solar plant in S-E England. The plant is estimated to cost 拢400 million (US$524 million). If it comes to fruition, it would be three times the size of the world's largest battery installed last year by Tesla in South Australia. Planning permission is still some way off though.

This is another indication of how mistaken are those Tesla bears who even consider that Tesla should get out of the energy storage business altogether. An article on Seeking Alpha recently predicted that Tesla would exit the business. Given the huge potential seen by companies such as Tesla and BYD, this is a remarkable thesis. Especially so when you consider that energy storage is Tesla's fastest-growing sector, and the company has predicted it could exceed its auto business.

My article in May outlined the huge market opportunities for Tesla. The latest contract win in California is just another example of this. As Tesla increasingly sees itself as a battery business that sells autos, an exit from the business can be put down as a non-starter.

BYD Stock Price

BYD is expected to spin off its battery business into a separate unit to be floated on the stock market. This could add very meaningful value to stockholders. It is likely to happen in early 2019 but is not confirmed at this time.

The stock price has been hit recently by two main factors. Firstly, uncertainty over the direction of EV incentives in China. This concern proved to be misplaced. Secondly, it has been hit by the protectionist measures being brought in by the Trump administration.

It has still been a good investment for those with a long-term perspective such as major investor Berkshire Hathaway (BRK.A) (NYSE:BRK.B). The 5-year chart below illustrates this:

Charles Schwab

My recent article highlighted why it can be seen as an excellent Buy after these pullbacks. The best timing of buying stock is uncertain, however. There are of course risks, as I detailed in an article in September last year. Since then the major risk has become the trade war instituted by the USA against China and the EU.

CEO and founder Wang Chuanfu is not given to hyperbole. His target to increase revenues from US$17 billion to US$151 billion by 2025 is a serious intent, whether or not it is successful.

For investors looking to play the long game, now represents an opportunity despite what may be short-term hiccups. Those who are more risk-averse may want to wait and see what happens in the trade wars narrative. BYD is not directly affected in that it does not export autos to the USA. Indeed it makes e-buses there. It is though likely to be hit by negative sentiment for autos in particular, and for Chinese stocks in general. In my article in January, I detailed some of the general risks inherent in Chinese stocks.

As for Tesla, the China potential emphasises the added importance of having investments on the ground in China. Tesla celebrated when China recently cut auto import tariffs. It cut the price of its autos in the Chinese market. Now the U.S. government's stance towards China has led to a new tariff in retaliation from the Chinese government. It is a classic example of how the USA's tariffs policy is hurting U.S. manufacturers and encouraging them to relocate production overseas. This was seen recently with Harley-Davidson (HOG) and with warnings from GM (GM).

Conclusion

For strategic, environmental and political reasons, China is seizing the world market for EVs and for batteries. On manufacturing grounds it has mapped out a very strong position for itself. The USA is far behind the curve. It will likely become more so given the stand on environmental matters by the Trump Administration.

On the auto front, there is of course plenty of room for both BYD and Tesla to thrive. This is true in China, in Europe and around the world. Tesla's marketing has been based on starting from the top and working downwards. BYD has achieved huge EV volumes based on fleet sales and is now working up in quality. Both have huge potential as the world moves towards an EV and energy storage future. Both will need substantial investments in battery manufacturing. This will keep them vertically integrated and able to control their own costs, and open up substantial sales to outside parties.

Tesla will probably further develop its business successfully. Its lack of finance compared to BYD will be a hindrance to reaching its full potential. However, the recent announcement by Panasonic shows there is not a lack of willing suitors. Chinese giant Tencent may well invest further in the company.

Both Tesla and BYD have what I look for in a company. That is, inspiring management with involvement in a secular growth sector.

On a world stage, Tesla is unlikely to achieve the volumes of BYD in either EVs or batteries. The growth market is so huge though that Tesla will still be a major player.

BYD has the financial advantage over Tesla. It has the economies of scale and the advantage of being located in China with a supportive, environmentally concerned government. BYD is well-placed to consolidate its position as the vertically integrated world market leader in the new energy sector.

Disclosure: I am/we are long BYDDF, TSLA.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

Critical Analysis: Southern Missouri Bancorp (SMBC) and Heritage Financial (HFWA)

Southern Missouri Bancorp (NASDAQ: SMBC) and Heritage Financial (NASDAQ:HFWA) are both small-cap finance companies, but which is the superior investment? We will contrast the two businesses based on the strength of their risk, profitability, institutional ownership, earnings, valuation, dividends and analyst recommendations.

Dividends

Get Southern Missouri Bancorp alerts:

Southern Missouri Bancorp pays an annual dividend of $0.44 per share and has a dividend yield of 1.1%. Heritage Financial pays an annual dividend of $0.60 per share and has a dividend yield of 1.8%. Heritage Financial pays out 40.5% of its earnings in the form of a dividend.

Analyst Recommendations

This is a summary of recent ratings and price targets for Southern Missouri Bancorp and Heritage Financial, as provided by MarketBeat.com.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Southern Missouri Bancorp	0	1	0	0	2.00
Heritage Financial	0	0	5	0	3.00

Heritage Financial has a consensus price target of $35.00, suggesting a potential upside of 2.19%. Given Heritage Financial’s stronger consensus rating and higher probable upside, analysts clearly believe Heritage Financial is more favorable than Southern Missouri Bancorp.

Profitability

This table compares Southern Missouri Bancorp and Heritage Financial’s net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Southern Missouri Bancorp	22.01%	12.60%	1.09%
Heritage Financial	20.10%	9.09%	1.16%

Institutional & Insider Ownership

47.1% of Southern Missouri Bancorp shares are held by institutional investors. Comparatively, 77.1% of Heritage Financial shares are held by institutional investors. 17.9% of Southern Missouri Bancorp shares are held by insiders. Comparatively, 2.7% of Heritage Financial shares are held by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a company is poised for long-term growth.

Valuation and Earnings

This table compares Southern Missouri Bancorp and Heritage Financial’s top-line revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
Southern Missouri Bancorp	$72.57 million	4.94	$15.55 million	N/A	N/A
Heritage Financial	$183.29 million	6.36	$41.79 million	$1.48	23.14

Heritage Financial has higher revenue and earnings than Southern Missouri Bancorp.

Risk & Volatility

Southern Missouri Bancorp has a beta of 0.72, indicating that its stock price is 28% less volatile than the S&P 500. Comparatively, Heritage Financial has a beta of 0.53, indicating that its stock price is 47% less volatile than the S&P 500.

Summary

Heritage Financial beats Southern Missouri Bancorp on 10 of the 15 factors compared between the two stocks.

Southern Missouri Bancorp Company Profile

Southern Missouri Bancorp, Inc. operates as the bank holding company for Southern Bank that provides banking and financial services to individuals and corporate customers in the United States. It offers various deposit instruments, including demand deposit accounts, negotiable order of withdrawal accounts, money market deposit accounts, saving accounts, certificates of deposit, and retirement savings plans. The company also provides loans for the acquisition or refinance of one-to four-family residences; loans secured by commercial real estate, including land, shopping centers, retail establishments, nursing homes and other healthcare related facilities, and other businesses; construction loans; and various secured consumer loans comprising home equity, direct and indirect automobile loans, second mortgages, mobile home loans, and loans secured by deposits. In addition, it offers commercial business loans, such as loans to finance accounts receivable, inventory, equipment, and operating lines of credit. As of June 30, 2017, the company operated 38 full-service branch offices, and 3 limited-service branch offices located in Poplar Bluff, Van Buren, Dexter, Kennett, Doniphan, Sikeston, Qulin, Matthews, Springfield, Thayer, West Plains, Alton, Clever, Forsyth, Fremont Hills, Kimberling City, Ozark, Nixa, Rogersville, Cape Girardeau, Jackson, Jonesboro, Paragould, Brookland, Batesville, Searcy, Bald Knob, Arkansas, and Illinois. Southern Missouri Bancorp, Inc. was founded in 1887 and is based in Poplar Bluff, Missouri.

Heritage Financial Company Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit. Its loan portfolio includes commercial and industrial loans, owner-occupied and non-owner occupied commercial real estate loans, one-to-four family residential loans, real estate construction and land development loans, consumer loans, business lines of credit, term equipment financing, and term real estate loans, as well as commercial loans focuses on real estate related industries and businesses in agricultural, healthcare, legal, and other professions. The company also originates loans that are guaranteed by the U.S. Small Business Administration; and offers trust services through trust powers, as well as objective advice. As of December 31, 2017, the company had a network of 59 branches located in Washington and Oregon. The company was formerly known as Heritage Financial Corporation, M.H.C. and changed its name to Heritage Financial Corporation in 1998. Heritage Financial Corporation was founded in 1994 and is headquartered in Olympia, Washington.

Zacks: Analysts Expect Kite Realty Group Trust (KRG) Will Announce Earnings of $0.50 Per Share

Wall Street brokerages expect Kite Realty Group Trust (NYSE:KRG) to announce $0.50 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Kite Realty Group Trust’s earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.51. Kite Realty Group Trust reported earnings per share of $0.54 during the same quarter last year, which suggests a negative year over year growth rate of 7.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 25th.

On average, analysts expect that Kite Realty Group Trust will report full year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.02. For the next year, analysts anticipate that the company will post earnings of $2.04 per share, with EPS estimates ranging from $2.02 to $2.06. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Kite Realty Group Trust.

Get Kite Realty Group Trust alerts:

Kite Realty Group Trust (NYSE:KRG) last announced its earnings results on Wednesday, April 25th. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. The business had revenue of $89.76 million for the quarter, compared to the consensus estimate of $88.38 million. Kite Realty Group Trust had a negative return on equity of 0.38% and a negative net margin of 1.69%. The company’s revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS.

Several equities research analysts recently commented on KRG shares. Robert W. Baird reiterated a “buy” rating and set a $19.00 target price on shares of Kite Realty Group Trust in a report on Wednesday, March 21st. Barclays reiterated a “buy” rating and set a $20.00 target price on shares of Kite Realty Group Trust in a report on Thursday, March 8th. TheStreet downgraded Kite Realty Group Trust from a “c” rating to a “d+” rating in a report on Wednesday, April 25th. Sandler O’Neill set a $15.00 target price on Kite Realty Group Trust and gave the company a “hold” rating in a report on Tuesday, April 24th. Finally, ValuEngine downgraded Kite Realty Group Trust from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.57.

A number of hedge funds have recently bought and sold shares of KRG. Certified Advisory Corp purchased a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $137,000. Bridgeworth LLC purchased a new stake in Kite Realty Group Trust during the 1st quarter worth approximately $171,000. SG Americas Securities LLC increased its holdings in Kite Realty Group Trust by 78.3% during the 1st quarter. SG Americas Securities LLC now owns 11,693 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 5,135 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Kite Realty Group Trust during the 4th quarter worth approximately $202,000. Finally, Element Capital Management LLC purchased a new stake in Kite Realty Group Trust during the 1st quarter worth approximately $240,000. Institutional investors own 93.75% of the company’s stock.

Shares of NYSE:KRG remained flat at $$16.60 during mid-day trading on Tuesday. The company had a trading volume of 802,779 shares, compared to its average volume of 776,956. The stock has a market cap of $1.38 billion, a P/E ratio of 8.14, a P/E/G ratio of 1.93 and a beta of 0.51. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.08. Kite Realty Group Trust has a 1-year low of $13.87 and a 1-year high of $21.57.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, July 6th will be issued a dividend of $0.317 per share. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.27 annualized dividend and a yield of 7.64%. Kite Realty Group Trust’s dividend payout ratio is presently 62.25%.

Kite Realty Group Trust Company Profile

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust (REIT) engaged primarily in the ownership and operation, acquisition, development and redevelopment of high-quality neighborhood and community shopping centers in select markets in the United States. As of December 31, 2017, we owned interests in 117 operating and redevelopment properties totaling approximately 23.3 million square feet and two development projects currently under construction.

Get a free copy of the Zacks research report on Kite Realty Group Trust (KRG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

TransCanada Helps Mexico Turn To Gas

TransCanada Corporation (TRP) is a giant in the North American energy space, with operations in Canada, America, and Mexico. The midstream juggernaut has been aggressively growing its Mexico gas pipeline business to take advantage of shifting market dynamics in the utility space that are stimulating greater demand for natural gas. Let's go over a two-part pipeline project TransCanada Corporation is close to completing.

A two-parter

Mexico��s state-run utility firm Comisi贸n Federal de Electricidad, commonly known as CFE, signed a $1.1 billion agreement with TransCanada back in 2012. That agreement tasked TransCanada with building a gas pipeline that would run from El Encino in Chihuahua state to Topolobampo in Sinaloa state.

Referred to as the El Encino-Mazatl谩n system, this development consists of two pipeline projects. Last year, the 267-mile long Mazatl谩n pipeline was completed for a development cost of $400 million. The pipeline runs from El Oro to Mazatl谩n, both of which are in Sinaloa state. TransCanada has a 25-year agreement with CFE to supply 200 MMcf/d of gas through this portion of the system to be used as a fuel for electricity generation. Investors should note that while the pipeline won��t really be operational until the second pipeline is completed, TransCanada completed its contractual obligations and has been recording and receiving revenue from CFE since mid-2017.

The second project, the Topolobampo pipeline, will run for 348 miles from El Encino in Chihuahua state to various delivery points, including the Mazatl谩n pipeline. This pipeline is crucial as it carries gas supplies in Chihuahua state to other parts of Mexico that are in need of the fuel for electricity generation.

While not explicitly stated, it is possible some of those gas supplies are coming from American sources including upstream operations in the Eagle Ford and Permian Basin. TransCanada signed a 25-year agreement with CFE to supply 670 MMCf/d of natural gas along this portion of the pipeline system.

Sinaloa state has the second highest electricity generation costs in Mexico after Baja California Sur, according to CRE, and gas is part of the solution. The 320 MW Juan de Dios Batiz Paredez power plant and the 616 MW Jose Aceves Pozos power plant were both upgraded to be able to use natural gas as a fuel to cut costs (both were previously using fuel oil, but the switch will only happen once the entire development is completed). As an aside, only 300 MW of the Jose Aceves power plant's generation capacity was converted to also run on natural gas.

Farther out, the 778 MW Topolobampo II and 777 MW Topolobampo III combined-cycle gas-fired plants are expected to be completed in 2019 and 2020, respectively. This will wean Sinaloa state away from its need for more expensive oil-powered electricity generation and towards cleaner, cheaper natural gas.

Delays

Originally, the two-part development was expected to come online in 2016, but that was delayed due to concerns over the route of the system. This increased the cost of the development as its price tag is now roughly $1.4 billion.

Aboriginal Raramuri communities (whose ancestral home resides in Chihuahua state) filed a lawsuit against TransCanada which halted construction in 2015. The disagreement was over the negative impact the pipeline route might have on sensitive lands, so consultations began between TransCanada and the Raramuri community a year later. Both sides came to an agreement by early 2017, and now the project is expected to be completed some time this quarter.

These delays increased the cost of the Topolobampo project from $1 billion to $1.2 billion, but it appears TransCanada will be able to recoup those additional costs as it was recognized as a force majeure event. From TransCanada��s 2017 10-K:

��Under the terms of the TSA, the delay in the 20 km (12 mile) section was recognized as a force majeure event with provisions allowing for the collection of revenue from the original TSA service commencement date of July 2016.��

As the legal disputes have since been settled, it appears there is a good chance TransCanada will soon be collecting revenue for a service it can actually provide (one of the upsides of heavily regulated industries like the gas pipeline space is that the midstream operator is often protected from adverse events in some capacity).

Financial impact

Investors can easily see the favorable impact this growth story is having on TransCanada��s financial statements. From 2015 to 2017, TransCanada��s comparable EBITDA from its Mexico Natural Gas Pipelines division rose from $164 million to $399 million. Its comparable EBIT and segmented earnings (a non-GAAP figure that adjusts for forex movements) rose from $169 million in 2015 to $287 million in 2016 to $426 million in 2017.

A large part of that growth comes from TransCanada recognizing and receiving revenue from the two-part development mentioned above, which started in 2016. Going forward, it will be the Sur de Texas and Villa de Reyes ventures that will keep driving the company forward. TransCanada Corporation noted:

��We expect 2018 earnings from the Topolobampo, Tamazunchale, Guadalajara and Mazatl谩n pipelines to remain consistent with 2017 due to the long-term nature of the underlying revenue contracts. Sur de Texas and Villa de Reyes are expected to be in service in late 2018.��

Final thoughts

Mexico is pivoting away from fuel oil and towards natural gas, an increasing amount of which is being imported from America, and that should free up a good amount of Mexico's domestic oil/petroleum production for export (and those export earnings can be used to fund its natural gas purchases from the US and then some). TransCanada Corporation has been instrumental in making this change possible. As there remains an enormous need for additional gas pipeline networks in Mexico, TransCanada Corporation has plenty of growth opportunities ahead of it. Thanks for reading.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Is Axon Enterprise a Buy?

Axon Enterprise (NASDAQ:AAXN) has been one of the best stocks on the market so far in 2018, rising 133% in less than five months. There could be an even longer runway of growth for this company because of its efforts in continually improving how law enforcement professionals do their jobs.�

Here's a look at the key metrics behind Axon Enterprise's business and why I think this is a great stock to own over the long term.�

Image source: Axon Enterprise.

The booming taser and body camera business

In the last 12 months, Axon Enterprise has sold 117,986 body cameras, up 24% from a year earlier. What's great about the body camera business is that most sales come in the form of multiyear contracts that bundle services like cloud storage with Evidence.com, so this is a recurring source of revenue.�

By the end of the first quarter of 2018, revenue backlog for body cameras and related services totaled $570.0 million, and 93% of the bookings so far in 2018 have been multiyear contracts. This is a product line that will drive Axon Enterprise's growth for years to come.�

Taser weapons continue to perform well, too, with unit sales up 13% in the last 12 months to 163,142. For now, tasers are the biggest moneymaker, with $57.7 million in revenue and $20.2 million in operating income in the first quarter of 2018. Long term, body cameras, which generated $21.6 million in revenue last quarter, will likely grow and overtake tasers in size, but this is a great base product to build from.�

New products could change law enforcement forever

As successful as tasers and body cameras are, they're only the start of Axon Enterprise's plan to become indispensable to law enforcement. Three new products in 2018 will ingrain the company more deeply into an officer's daily routine.�

The first product to be introduced was Axon Fleet, a two-camera system that's installed in squad cars and can automatically upload video to the cloud when the car is in range of an Axon router. List price for the system is $129 per month per vehicle with additional revenue opportunities like a Wi-Fi server ($3,500) and Wi-Fi access point ($18,475). With 1,857 units already sold in 2018, this product is already gaining momentum in the market.�

Axon's Signal Sidearm holster can hold most standard police weapons and turns on body cameras within 30 feet when a weapon is drawn. Image source: Axon Enterprise.

A holster product called Signal Sidearm has also been introduced and sold in limited quantities. The holster automatically turns on any body camera within a 30-foot range when a weapon is drawn, eliminating the need for an officer to manually turn on a camera. Standalone pricing isn't available, but Signal Sidearm is part of a package officers can buy for $109 per month that includes a body camera, taser, and unlimited data uploads to Evidence.com. These package deals are likely what Axon will push as a way to grow revenue per user in the future.��

The third product is a records management system, called Axon Records, and it could change the way law enforcement does their work. Axon President Luke Larson recently called the product a:�

breakthrough record management system built to fully integrate audio and video data and to leverage artificial intelligence to streamline report creation in addition to several game changing enterprise software add-ons.

The audio and video he's referring to is actions like recording interviews with witnesses, which can be done with the body camera. Artificial intelligence features then record data and transcribe a transcript, automatically uploading it to the cloud, reducing paperwork and errors in the field. If it's adopted on a broad level, it could make Axon Enterprise an essential part of each officer's workflow everyday.�

Axon Enterprise is still a great buy

Investors who focus primarily on earnings won't think the stock looks like an attractive value given the fact that Axon is barely returning to profitability. But revenue has doubled in the last three years, and double-digit annual top-line growth seems likely for the foreseeable future. Given its leadership position in tasers, body cameras, and next-generation technology for law enforcement, I think this company is a great buy for investors over the long haul.�

After Russia scandal, Facebook begins labeling political ads

Facebook on Thursday began following a long-held practice of the television and newspaper industry: Labeling political ads.

The move came more than a year after the US intelligence community reported Russia used social media to meddle in the 2016 US presidential election and seven years after Facebook and Google sought exemptions from federal regulators on political ad disclaimers.

In an attempt to prevent foreigners from buying political ads targeted at Americans, Facebook will require advertisers to provide a picture of their government-issued ID, the last four digits of their Social Security number, and a US mailing address.

Ads that mention a political candidate or are about issues including guns, civil rights, and patriotism will be subject to the new rules. An ad will now include a label saying what organization paid for it.

Advertisers will also be responsible for sharing who paid for the ad, Facebook said. The same rules will also apply on Instagram, which is owned by Facebook.

Clicking on the ad label will allow Facebook users to see how many people saw the ad, the company said in a blog post on Thursday. Meanwhile, all political ads will be archived and available to view for up to seven years.

Facebook released an example of what the ad labels will look like on Thursday

Facebook has born the brunt of the criticism from lawmakers about the lack of transparency about political actors and the spread of misinformation on its platform.

In 2016, a Russian government-linked troll group, posing as Americans, ran thousands of fake social media accounts, and spent thousands of dollars on advertising targeting American voters on Facebook, Instagram, YouTube, and Twitter.

Because the extent of Russian interference on social media became more clear through congressional investigations, news reporting, and independent research in 2017, Facebook has released more information publicly about the actions than other tech companies, such as Twitter and Google.

On Thursday, Twitter also announced it would be implementing new rules for political advertisers. Ads will be labeled and organizations buying ads will need to provide their Federal Elections Commission ID. Individuals wanting to buy ads "will have to submit a notarized form," the company said.

However, with primary season in full swing ahead of November's midterm elections, the enforcement of Twitter's new rules will not begin until " later this summer," the company said.

Twitter also said it will launch an "Ad Transparency Center" this summer to provide more details on ads running on the platform.

Google announced earlier this month it now requires political ad-buyers to provide a government-issued ID and "other key information." Similar to Facebook, Google will provide an archive of ads later this summer, the company said.

"We believe that increased transparency will lead to increased accountability and responsibility over time -- not just for Facebook but advertisers as well," Rob Leather, Facebook's Director of Product Management, said in a blog post on Thursday announcing the ad disclaimers.

In 2011, Facebook sought an exemption from political ad disclaimer rules citing space constraints for its "character-limited ads." Facebook lawyers argued the ads were so small that a disclaimer would be impracticable, according to Federal Election Commission records reviewed by CNN.

Google also sought an exemption making a similar argument a year earlier in 2010.

Online advertising has since evolved. During the 2016 campaign political advertisers, and Russian trolls, sometimes ran ads that included pictures, videos, and lengthy written posts �� all without disclaimers mandated by the social media platforms.

The companies hope their new initiatives will prevent a repeat of 2016.

Amgen (AMGN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Amgen (NASDAQ:AMGN) have earned an average recommendation of “Hold” from the twenty-seven research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $193.19.

A number of equities analysts have recently weighed in on the stock. Argus raised shares of Amgen from a “hold” rating to a “buy” rating and upped their price target for the stock from $192.33 to $220.00 in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. upped their price target on shares of Amgen from $184.00 to $189.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $189.00 price target on shares of Amgen in a research note on Wednesday, January 24th. Vetr downgraded shares of Amgen from a “hold” rating to a “sell” rating and set a $181.60 price target on the stock. in a research note on Tuesday, March 6th. Finally, Morgan Stanley dropped their price target on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd.

Get Amgen alerts:

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Friday, March 16th. The shares were sold at an average price of $189.75, for a total transaction of $289,368.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 4,575 shares of company stock worth $818,208 over the last three months. Company insiders own 0.27% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC increased its position in Amgen by 110.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock worth $113,000 after buying an additional 340 shares during the last quarter. Braun Bostich & Associates Inc. bought a new stake in Amgen during the first quarter valued at about $113,000. Taylor Hoffman Wealth Management bought a new stake in Amgen during the fourth quarter valued at about $127,000. Cornerstone Advisors Inc. boosted its holdings in Amgen by 76.5% during the first quarter. Cornerstone Advisors Inc. now owns 729 shares of the medical research company’s stock valued at $124,000 after acquiring an additional 316 shares during the period. Finally, Horan Capital Advisors LLC. bought a new stake in Amgen during the third quarter valued at about $150,000. 78.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AMGN traded up $1.58 during mid-day trading on Friday, reaching $179.94. The company’s stock had a trading volume of 2,241,956 shares, compared to its average volume of 4,497,541. The firm has a market capitalization of $116.77 billion, a P/E ratio of 14.30, a PEG ratio of 2.18 and a beta of 1.36. Amgen has a 1 year low of $153.56 and a 1 year high of $201.23. The company has a quick ratio of 3.60, a current ratio of 3.88 and a debt-to-equity ratio of 2.14.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.23. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.44 billion. Amgen had a return on equity of 35.80% and a net margin of 9.67%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.15 earnings per share. analysts expect that Amgen will post 13.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s payout ratio is 41.97%.

Amgen declared that its board has approved a stock buyback program on Thursday, February 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

U.S. stocks set up for more losses as geopolitical worries persist

U.S. stock futures fell on Wednesday as geopolitical and trade concerns continued to nag at investors, taking the wind out of a rally seen at the start of the week.

Earnings from Target Corp. and then later the release of minutes from the latest Federal Open Market Committee meeting are among the highlights of the session ahead.

What are markets doing?

Dow Jones Industrial Average futures YMM8, -0.54% slipped 54 points, or 0.2%, to 24,792, while S&P 500 futures ESM8, -0.47% lost 5.6 points, or 0.2%, to 2,720.50. Nasdaq-100 futures NQM8, -0.74% fell 29.75 points, or 0.4%, to 6,879.75.

On Wednesday, the Dow Jones Industrial Average DJIA, -0.72% dropped 178.88 points, or 0.7%, to reach 24,834.41. The S&P 500 SPX, -0.31% lost 0.3% to end at 2,724.44, while the Nasdaq Composite Index COMP, -0.21% shed 15.58 points, or 0.2%, to close at 7,378.46.

Read: Why the end is coming soon for the biggest tech bubble we��ve ever seen

What��s driving the market?

Trade and geopolitical concerns continued to overshadow markets on Wednesday. President Donald Trump told reporters he wasn��t really happy with the progress of U.S.-China trade talks, and hinted that his summit with North Korean leader Kim Jong Un may not go ahead as planned.

Fiscal stimulus may swing back into focus after Trump said Tuesday evening that his administration will be ��submitting additional tax cuts sometime before November. It��s going to be something very special.��

What��s on the economic docket?

Markit��s May purchasing managers�� indexes for both manufacturing and services are scheduled for release at 9:45 a.m. Eastern Time. New-home sales for April are due at 10 a.m. Eastern.

At 2 p.m. Eastern, the minutes of the May meeting of Federal Reserve policy makers will be released.

Check out: Fed may float new ideas to market in the minutes

Which stocks are in focus?

Lowe��s Companies Inc. LOW, -1.88% �, Target Corp. TGT, -1.82% �, Tiffany & Co. TIF, -0.97% � and Ralph Lauren Corp. RL, -0.40% � are expected to report earnings ahead of the open, with the financial update from L. Brand Inc. LB, -0.18% �due after the close.

Read: Target earnings preview �� shoppers are showing up for the exclusive brands

Banks could be in focus after the House on Tuesday voted for a plan to roll back parts of the 2010 Dodd-Frank financial law. The move would ease rules placed on small and midsize banks during the financial crisis.

Wynn Resorts Ltd. WYNN, -0.15% �shares could be active after shareholders voted against the company��s executive compensation plan.

What did other markets do?

Asian markets had a rough session, with the Nikkei NIK, -1.18% �dropping more than 1% on yen strength. European stocks SXXP, -0.70% SXXP, -0.70% are set to open lower.

The ICE Dollar Index was steady, but the greenback is also lower against the pound GBPUSD, -0.4095% �. The 10-year U.S. Treasury note yield TMUBMUSD10Y, -1.38% �dipped to 3.05%.

A pullback for U.S. oil futures CLM8, -0.21% continued to pull lower. Gold futures GCM8, -0.02% were steady at $1,291.60 an ounce.

Read: Here��s what an ��oil shock�� would mean for the global economy

Economic preview: Rising rates, higher gas have failed to kill the economic expansion

Related Topics U.S. Stocks Markets NY Stock Exchange NASDAQ Quote References YMM8 -134.00 -0.54% ESM8 -12.75 -0.47% NQM8 -51.25 -0.74% DJIA -178.88 -0.72% SPX -8.57 -0.31% COMP -15.58 -0.21% LOW -1.64 -1.88% TGT -1.40 -1.82% TIF -1.00 -0.97% RL -0.47 -0.40% LB -0.06 -0.18% WYNN -0.30 -0.15% NIK -270.60 -1.18% SXXP -2.79 -0.70% GBPUSD -0.0055 -0.4095% TMUBMUSD10Y -0.04 -1.38% CLM8 -0.15 -0.21% GCM8 -0.30 -0.02% Show all references MarketWatch Partner Center Most Popular Thinking of selling your home? Do it before 2020, economists say Why the end is coming soon for the biggest tech bubble we��ve ever seen Here��s what happens if the oil rally turns into an ��oil shock�� Trump hints at more tax cuts to be unveiled before November Here's all you need to do in your 30s for a great financial future Barbara Kollmeyer

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

Barbara Kollmeyer

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

We Want to Hear from You

Join the conversation

Comment Community Guidelines �� FAQs BACK TO TOP MarketWatch Site Index Topics Help Feedback Newsroom Roster Media Archive Premium Products Mobile Company Company Info Code of Conduct Corrections Advertising Media Kit Advertise Locally Reprints & Licensing Your Ad Choices Dow Jones Network WSJ.com Barron's Online BigCharts Virtual Stock Exchange Financial News London WSJ.com Small Business realtor.com Mansion Global

Copyright © 2018 MarketWatch, Inc. All rights reserved.

By using this site you agree to the Terms of Service, Privacy Policy, and Cookie Policy.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements. Advanced Search Stocks Columns Authors Topics No results found E-Mini Dow Jun 2018 U.S.: CBOT: YMM8 $24,711.00 -134.00 (-0.54%)

Volume	24556
Open	$24,836
High	$24,845
Low	$24,686
P/E Ratio	0
Div Yield	0
Market Cap	N/A

E-Mini S&P 500 Future Jun 2018 U.S.: CME: ESM8 2,713.25 -12.75 (-0.47%)

Volume	78181
Open	2,725
High	2,726
Low	2,711
P/E Ratio	0
Div Yield	0
Market Cap	N/A

E-Mini Nasdaq 100 Index Jun 2018 U.S.: CME: NQM8 6,858.00 -51.25 (-0.74%)

Volume	33557
Open	6,906
High	6,908
Low	6,846
P/E Ratio	0
Div Yield	0
Market Cap	N/A

Dow Jones Industrial Average DJ-Index: DJIA 24,834.41 -178.88 (-0.72%)

Subscribe to: Posts (Atom)

Blog Archive

• ►  2019 (34)
  • ►  March (14)
  • ►  February (20)

• ▼  2018 (20)
  • ▼  August (2)
    • Q3 2018 Earnings Estimate for MutualFirst Financia...
    • TerraNova (TER) Trading Up 0.3% This Week
  • ►  July (7)
    • One Family Controls Who Will Be Next CEO of Fiat C...
    • Astro (ASTRO) Hits 24-Hour Volume of $621.00
    • Why Stitch Fix Inc. Stock Popped Today
    • Cramer: The real cause of the bank stocks' weaknes...
    • Loans: Best and worst ways to borrow money
    • Hot Undervalued Stocks To Invest In Right Now
    • BYD Making Big Battery Investments, Tesla To Follow
  • ►  June (2)
    • Critical Analysis: Southern Missouri Bancorp (SMBC...
    • Zacks: Analysts Expect Kite Realty Group Trust (KR...
  • ►  May (9)
    • TransCanada Helps Mexico Turn To Gas
    • Is Axon Enterprise a Buy?
    • After Russia scandal, Facebook begins labeling pol...
    • Amgen (AMGN) Given Consensus Recommendation of “Ho...
    • U.S. stocks set up for more losses as geopolitical...

• ►  2016 (1)
  • ►  November (1)

• ►  2015 (84)
  • ►  June (8)
  • ►  May (10)
  • ►  April (4)
  • ►  March (14)
  • ►  February (17)
  • ►  January (31)

• ►  2014 (334)
  • ►  December (17)
  • ►  November (1)
  • ►  October (8)
  • ►  September (13)
  • ►  August (13)
  • ►  July (18)
  • ►  June (57)
  • ►  May (47)
  • ►  April (54)
  • ►  March (40)
  • ►  February (20)
  • ►  January (46)

• ►  2013 (1351)
  • ►  December (44)
  • ►  November (50)
  • ►  October (49)
  • ►  September (31)
  • ►  August (43)
  • ►  July (109)
  • ►  June (124)
  • ►  May (136)
  • ►  April (121)
  • ►  March (273)
  • ►  February (161)
  • ►  January (210)

• ►  2012 (1607)
  • ►  December (220)
  • ►  November (221)
  • ►  October (236)
  • ►  September (189)
  • ►  August (255)
  • ►  July (184)
  • ►  June (205)
  • ►  May (97)

About Me

Stock Broker

View my complete profile

Picture Window theme. Powered by Blogger.