Although we dont believe in timing the market or panicking over market movements, we do like to keep an eye on big changes — just in case theyre material to our investing thesis.
What: Shares of radio equipment maker CPI International (Nasdaq: CPII) are surging today, rising 34% above Wednesdays closing price.
So what: The defense contractor agreed to a buyout offer at $19.50 per share, so the stock jump simply reflects the price premium. A buyout bid from Comtech Telecommunications (Nasdaq: CMTL) fell apart earlier this year because the partly stock-based offer was damaged by a swooning Comtech stock, but this private-equity deal should be set in stone.
Now what: CPI Internationals share price has now doubled in the past 12 months and more than tripled since the spring of 2009. Despite these gains and the tremendous overnight pop, at least two lawsuits say the company isnt getting full value out of the sale. Dont hold your breath waiting for a bidding war, but do keep in mind that rival L-3 Communications Holdings (NYSE: LLL) actually commands a slightly higher PEG ratio than CPI International, so this boosted price is not crazy-high by any means.
Interested in more info on CPI International? Add it to your watchlist.
General Motors is convinced that increasing fuel efficiency is the key to its future success, not to mention helping it to meet future CAFE mandates.So it doesnt come as much of a surprise that GM is making a $163.2-million dollar investment in small-engine plants located in Flint and Bay City Michigan and Defiance, Ohio. “This investment is essential in ensuring we can meet the expected high demand for the Chevrolet Volt, Chevrolet Cruze and a small car that will be produced at our Orion Township facility,” GM said in a statement.
Alexei Ukykayev the first deputy chair of the Russian Central Bank said that the Canadian dollar has been added to Russian international reserves. Ukykayev said:We have recently begun investing in assets denominated in the Canadian dollar,So far, the amounts are very small, but theres perhaps potential for increasing our holdings.
Russia is planning to diversify its reserves. Russia also wants to promote the use of regional currencies in international trade and finance . This move would reduce risks posed by the dominance of the US dollar. The Central Bank has said it also plans to increase gold holdings. It may consider including other currencies as well including the Australian dollar.
The present Russian reserves comprise 47 percent US dollars, 41 percent euros, 10 percent British pounds, 2 percent Japanese yen and a small amount in Swiss francs. Russia has reduced its US dollar holdings from 50 per cent to 47 per cent so it is still holding plenty of US dollars. Russias reserves totaled $495.7 billion as of Nov. 12.
The Canadian dollars share of Russias reserves is very small at present but Ulyukayev said.Within several months we may be able to speak about more substantial volumes and any changes in the structureCanadas dollar is called the loonie after the loon on the back of the dollar coin It has gained 4.2 percent against the greenback this year on increasing demand for higher-yielding assets and raw materials. Commodities generate about half of Canadas export revenue.
There is growing support for a new global currency system that is less reliant on the dollar as a reserve currency. However, Ulyukayev said that the US dollar would still remain the leading global reserve currency even as rivals appear on the scene.
Ulyukayev said.There is competition, and it looks like it will intensify among currencies that play the role of global and regional reserve currencies,I think the dollar will be leading in this competition,. Given the size of the USeconomy and its well developed financial markets Ulykayev claimed that the US dollar would remain the main reserve currency.
President Dmitry MedvedevDmitry Medvedev is attempting to reduce the dollars dominance He is promoting the ruble as a reserve currency.The ruble has become a regional reserve currency for the countries of the former Soviet Union and nations with a traditionally large share of trade with Russia, Ulyukayev said. Ulyukayev said that the Chinese yuan will also become a global reserve currency but only after it becomes fully convertible. He said:There is a discrepancy between Chinas share of global trade, GDP and the lack of convertibility of its currency,If this discrepancy will be overcome quickly, the yuan will enter their ranks.
Every industry has seen its business model altered by the Web.
Same goes for investors.
It used to be that they bought and sold stocks by making a phone call to their broker, with limited access to information.
Now the self-directed investor can trade stocks online in an instant, access a plethora of company data and share his or her thoughts online.
With social media tools, investors can chat online with like-minded people, post blogs, share chart data and see whats being traded. The trend is not widespread, but its gaining traction.
In a poll of IBD readers, 63% say they dont use social media tools to help with their investments, but 37% do, up from 30% a year ago.
The users of social media tools for investing arent fully satisfied with the results. Our poll found a majority saying social media tools have not helped them form a good picture of market trends or make timely trading decisions.
It might be that theyre unfamiliar with advancements in the technology among the more aggressive sites with social media tools. Facebook and LinkedIn are among the most popular sites mentioned in the survey, but these sites are low on features compared with the rich set of communication tools on sites like TradeKing, Zecco, StockTwits and others.
The hesitancy in using social tools for investing mirrors the largest brokerage sites, which have been slow to adopt the trend. But just as the Web changed how people get news and hear music, it may be only a matter of time before the self-directed investor gets the social media bug.
Sick of the dry world of charts, valuations, stocks, bonds, commodities or currencies? You can literally sail away–investing in yachts is not just for rich elites.
Litehouse Inc., a food manufacturer, is planning a new $10 million facility in Hurricane, Utah, and creating 162 jobs.
We are excited to announce that our next facility expansion will be in the community of Hurricane, Utah. We have secured a site that provides for the manufacturing capacity that we need today, as well as the ability to meet the significant expansion opportunities of the future. Litehouse plans on being a permanent economic partner with the state of Utah and the communities in Washington County, said Litehouse President Jim Frank.
Litehouse will receive local aid, as well as a state incentive of $502,400. The company began as a restaurant more than 50 years ago, and began manufacturing food when it became famous for its blue cheese dressing.
One difference between the SECs investigation into Goldman Sachs and their investigation into JPMorgan is that JPMorgan lost a lot of money on the deal – almost a billion dollars.
Click here to read more about the SECs investigation into JPM gt;
Heres another. Goldman sold ABACUS to two funds that *should* have known what they were buying. But in JPMorgans case, small time investors ended up with pieces of Squared, and eventually lost money.
JPMorgan sold pieces of Squared to 17 institutional investors, one of which was a mutual fund run by manager Morgan Keegan. Invested in Morgan Keegans fund was Horace Grant, a retired Bulls player.
Grant, by proxy, owned small pieces of Squared because he invested in Keegans fund. When he lost money in Keegans fund, he sued him. A judge awarded him $1.4 million.
The arbitration on that case might actually mean something for the SECs investigation. We have to look into it further, but the judges ruling might suggest that it was Keegans mistake for buying pieces of Squared.
In other words, it wasnt JPMorgans marketing of Squared that was misleading. It was the way Keegan marketed Squared to investors in his mutual fund that was misleading.
NEW YORK–(BUSINESS WIRE)–The inaugural issue for Robin
Sparkman, the new editor-in-chief at The American Lawyer,
announces the results of the latest annual survey of technology
directors, conjectures on the future of outside investment in law firms,
and takes an in-depth look at the unprecedented boom in Chinese-Canadian
energy deals. To access these stories go to http://www.law.com/jsp/tal/index.jsp.
Next year, UK law firms will be able to start
taking outside investment. That got us musing about what would happen to
firms in the US if they could do the same thing.
According to Sparkman, “Next year, UK law firms will be able to start
taking outside investment. That got us musing about what would happen to
firms in the US if they could do the same thing.”
In “Capitalism’s Next Frontier,” reporter Amy Kolz stargazes into
a time when state bar associations allow outside ownership in law firms.
According to the industry experts interviewed, the future model will be
more evolutionary than revolutionary; greater innovation and investment
coupled with ruthless accountability and long term planning. Kolz looks
at what external investment could mean to a partnership’s young
rainmakers, as well as to their underperforming practices and veteran
partners with an eye to retirement.
The annual survey of law firm technology results are reviewed in “A
Cloudy Forecast,” by Alan Cohen. Capital budgets are creeping up but
operating budgets remain flat, and CIOs are still focused on cost
control. Despite the hype, cloud computing is now getting mixed reviews
but collaborative technologies like video conferencing have finally come
into their own and are delivering substantial cost savings.
The unprecedented rush of Canadian-Chinese economic knot tying is
examined in “Black Gold Rush,” by Julie Triedman. Chinese
state-owned companies have spent a record $32 billion on energy and
mining acquisitions and are brimming with enthusiasm for Canada. The
feature takes a look at the major players and examines regulatory
issues, the Canadian Pacific oil pipeline and the specific challenges of
working with Chinese state-owned companies as clients.
In “The Lanny Davis Show,” reporter DM Levine profiles
Lanny Davis, ex-attorney for the Honduran coup-supporters and President
Obiang of Equatorial Guinea. After bouncing around multiple law firms
Davis has launched Lanny J. Davis and Associates and its sister public
relations operation. Davis is the ubiquitous talking head coupled with
the metaphorical trigger finger; according to him, “What in God’s name
is the reason not to talk to the press when it’s going to be a story
The American Lawyer
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