Given the fact I like to think of myself as a long-term income-driven investor, dividend-related events are always something I tend to keep an eye on. With that said, and in the wake of its latest dividend increase, I wanted to highlight several reasons why I've chosen to stay positive on shares of Evans Bancorp (NYSEMKT:EVBN).
Headquartered in Hamburg, New York, Evans Bancorp, Inc. operates as the financial holding company for Evans Bank, N.A. that provides financial services to consumer, business, and municipal customers in Western New York. It operates in two segments, Banking Activities and Insurance Agency Activities.
The company accepts various deposit products, including checking, savings, NOW accounts, certificates of deposit, and jumbo certificates of deposits. It also offers various loan products residential mortgages, commercial and multi-family mortgages, commercial construction loans, home equity lines of credit and second mortgage loans, commercial and industrial loans, direct automobile
Analysts have slashed their estimates for Tupperware after the company missed the revenue estimates and lowered its guidance. As a result, the stock fell back to Zacks Rank # 5 (Strong Sell) yesterday.
About the Company
Tupperware Brands Corporation (NYSE:TUP) is a multi-brand, multi-category, relationship-based sales company. It primarily manufactures and sells preparation, storage, and serving solutions for the kitchen and home.
The company made its debut in 1946 and has now expanded its presence in almost 100 countries around the world. Its sales force consists of independent contractors who market products directly to consumers.
Disappointing Results and Guidance
On July 23, Tupperware announced the results for its Q2 of 2014. Net sales for the quarter were $674 million, below street estimates and also short of management’s growth estimates. While emerging markets--accounting for 66% of sales--achieved a 10% increase in local currency terms, established markets were down 7% in local
Patience has been a theme throughout the oil patch these last two quarters. Most notably, the big Marcellus producers have been pleading with investors to hang tight as new processing and pipeline capacity races to catch up with exploding production growth -- an imbalance that has been hammering down Appalachian gas price indices. And producers in every U.S. shale play have been pressing investors to discount some recent disappointments in production growth as the merely temporary consequence of the rapid switch to multi-well pad drilling. Though this practice is certain to yield important cost and operational efficiencies, it inherently defers production until all of the wells on a pad have been completed, causing growth to be lumpier than it has been up in the past and pushing the revenue impact of current drilling later into the year.
But even against this general background of patience-pleading, Laredo Petroleum's appeal for time
By Laura Eaton
Any significant growth slowdown would put immense pressure on China's over-extended banks and could trigger a banking crisis and consequent hard landing. In our Global Economic and Markets Outlook for the second quarter of this year we set out what a hard-landing for China might look like. We provided our own estimates of the magnitude of China's non-performing loan problem. Based on the extent of that country's over-investment in productive capacity, we found that, by the end of last year, non-performing loans across China's whole financial system amounted to around 17% of GDP. That is far in excess of the official estimate of 1% across China's ten largest banks. A hard landing scenario would see contagion spread rapidly from the shadow banks to one or more of China's mainstream banks. Worryingly, this provides a reminder of the structure of the global banking crisis of 2008: the slowdown
Hormel Foods Corporation (NYSE:HRL)
Q3 2014 Earnings Conference Call
August 21, 2014 9:00 AM ET
Jana L. Haynes – Director-Investor Relations
Jeffrey M. Ettinger – Chairman, President and Chief Executive Officer
Jody H. Feragen – Executive Vice President and Chief Financial Officer
Farha Aslam – Stephens, Inc.
Kenneth B. Zaslow – BMO Capital Markets
Akshay S. Jagdale – KeyBanc Capital Markets, Inc.
Diane R. Geissler – CLSA Americas LLC
Robert B. Moskow – Credit Suisse Securities LLC
Good day and welcome to the Hormel Foods’ Third Quarter Earnings Conference Call. Today’s conference is being recorded.
At this time, I’d like to turn the conference over to Jana Haynes, Director of Investor Relations. Please go ahead.
Jana L. Haynes
Thank you. Good morning. Welcome to the Hormel Foods’ conference call for the third quarter of fiscal 2014. We released our results this morning before the market opened
Endeavour Silver (NYSE:EXK) just announced a small land acquisition adjacent to its Guadalupe Y Calvo Property in Chihuahua, Mexico called La Bufa. It is purchasing this land--2,311 hectares--from a small mining company called Lincoln Mining (OTC:LNCLF) for 90,000 shares of stock--currently worth $480,000. The land package is subject to a 2% NSR royalty due to Almaden Minerals (NYSEMKT:AAU).
While the deal is small it speaks to my bullish thesis put forth a year ago tomorrow, namely that Endeavour Silver has a long history of relentless expansion. While the La Bufa Project doesn't currently have any NI 43-101 resources, the adjacent property--Guadelupe Y Calvo--has an estimated 7 million ounces of silver and 140,000 ounces of gold. Furthermore, the region has a history of gold and silver production--roughly 28 million ounces of silver and 2 million ounces of gold have been produced there.
The fact that Endeavour Silver is making this move
Let’s face it, dividends are no longer a novelty. They were very much so when we began writing this blog in December of 2004. Thus, over the last ten years, a time when stocks have experienced both ecstasy and agony, many investors have come to understand the value of dividends as central to their investing strategies. We have written a number of articles on the ABCs of dividend investing, so some of this blog will be repetitive, but hang in there, when we get to the XYZs, you’ll hear some new thoughts and tactics.
The two data points we discovered in the late 1980s that really got our attention and set us on the road to becoming pure dividend investors were the following:
- Since 1960, dividends have produced nearly 40% of the total return of the Dow Jones Industrial Average (DJIA)
- DJIA dividend growth during that time has averaged
The dynamics of the telecom sector are very interesting in the U.S. at the moment. AT&T (NYSE:T) and Verizon (NYSE:VZ) are the two major players dominating the sector while Sprint (NYSE:S) and T-Mobile are relatively smaller players. Sprint was looking to become a major threat to Verizon and AT&T with a takeover of T-Mobile, and the company had already promised a price war which was eventually going to benefit the customers. However, the merger between Sprint and T-Mobile has failed and it looks like the regulators believe Sprint and T-Mobile can offer better competition to the two major players in their current form and the merger will not be beneficial for the overall dynamics of the sector.
Sprint also looks to be moving on as the company has appointed new CEO, Marcelo Claure, who is a dynamic manager and will look to take on Verizon and AT&T. We have been
According to The Information, eBay (NASDAQ:EBAY) has been "telling potential recruits for the position of PayPal CEO that it's considering spinning off the payments business as soon as next year". This report is quite surprising as eBay fought off Carl Icahn's spin-off request just a couple of months ago. eBay replied that its stance hasn't changed but that the board "will continue to assess all alternatives". As a reminder, PayPal is the group's most valuable asset. It accounts for more than 40% of eBay's revenue, is the main growth driver (20% revenue growth in Q2 vs. 13% growth at group level) and is valued by analysts around $40bn (60% of eBay's market cap). One of the strongest arguments in favor of the spinoff and of a standalone PayPal is the potential to accelerate revenue growth through PayPal's integration on other large marketplaces [Amazon (NASDAQ:AMZN), Alibaba (Pending:BABA)…].
As explained in
It seems that when it comes to Apple (NASDAQ:AAPL), most analysts and investors have their full attention fixed on the upcoming product releases. These include the iPhone 6, an Apple television, and even a wearable device dubbed the iWatch.
While these are obviously important to the company's future, there is another aspect of Apple's business that is poised to see huge growth. This is its position in the enterprise market, which is set to grow substantially thanks to its recent partnership with International Business Machines (NYSE:IBM).
Apple is already in a dominant position with consumers, and now has a significant catalyst for the future in the form of enterprise penetration.
Apple has a whole new market on its hands
Apple Chief Executive Officer Tim Cook made it clear on a conference call with analysts that enterprise penetration is one of his biggest priorities. IBM will create more than 100 business
In several comments to my recent article “What Tekmira Investors Are Missing” it was brought up that Tekmira’s (NASDAQ:TKMR) experimental Ebola drug, TKM-Ebola, was being tested on animals under the FDA’s “Animal Rule”. While this is an accurate statement, a number of incorrect conclusions were drawn from this fact.
Development of TKM-Ebola
TKM-Ebola was first found to have successfully combated the disease within primates four years ago. The key points to note in the drug’s development are:
- 100% success in early trials with primates
- $140 million development contract in place with US Government Agency
- Efficacy testing conducted on animals under FDA’s Animal Rule regulatory guideline
- Phase 1 safety trial on humans began this year
A good, accurate and concise overview of the drug’s development so far is described in Tekmira’s February 12, 2014 press release:
“VANCOUVER, British Columbia, Feb. 8, 2012 (GLOBE NEWSWIRE) -- Tekmira Pharmaceuticals
Japan, once a miracle growth story known as the land of the rising sun, has found itself mired in a stagnant no-growth world for over 20 years. During this time, they have accumulated massive debt and now have demographics making them the oldest country in the world. These forces threatened the stability of Japan’s ability to fund their spending and social programs as their rapidly aging population struggles with staggering debt. As the sun looks poised to set on Japan amidst a crushing debt load, unique opportunities arise for astute investors.
What is informative about Japan is that it represents the front edge of where the entire developed world, including Europe and the US, is heading - into a dangerous cycle with too much debt, aging demographics, and gross overspending supported only by the sheer printing of money. No other major world economy has as much risk of a debt
Cyberonics, Inc (NASDAQ:CYBX)
Q1 2015 Earnings Conference Call
August 21, 2014 09:00 ET
Dan Moore - President & CEO
Rohan Hoare - COO
Greg Browne - CFO
Matthew Dodds - Citigroup
Matthew O'Brien - William Blair
William Plovanic - Canaccord Genuity
Steve Brozak - WBB Securities
Imron Zafar – Jefferies
Charles Haff - Craig-Hallum
Jim Sidoti - Sidoti & Company
Brooks West - Piper Jaffray
Welcome to Cyberonics’ First Quarter Fiscal Year 2015 Earnings Conference Call. My name is Saeed and I will be your operator for today. (Operator Instructions). I would now like to turn the conference over to your host for today, Mr. Dan Moore, President and Chief Executive Officer. Please proceed.
Thank you Saeed. And let me add my welcome to Cyberonics fiscal 2015 first quarter conference call. Joining me today are Rohan Hoare, our Chief Operating Officer; and Greg Browne,
Higher equity prices will boost consumer wealth and help increase confidence, which can spur spending. — Ben Bernanke, 2010
Across all financial media, between both political parties, and among most mainstream economists, the “wealth effect” is noted, promoted, and touted. The refrain is constant and the message seemingly simple: by increasing people wealth through rising stock and housing prices, the populace will increase their consumer spending which will spur economic growth. Its acceptance is as widespread as its justification is important, for it provides the rationale for the Federal Reserve’s unprecedented monetary expansion since 2008. While critics may dispute the wealth effect’s magnitude, few have challenged its conceptual soundness. Such is the purpose of this article. The wealth effect is but a mantra without merit.
The overarching pervasiveness of wealth effect acceptance is not wholly surprising, for it is a perfect blend of the Monetarist and Keynesian Schools. While its
The Children's Place Retail Stores, Inc. (NASDAQ:PLCE)
Q2 2014 Earnings Conference Call
August 21, 2014 08:00 AM ET
John Taylor - VP of Finance
Jane Elfers - CEO, President and Director
Mike Scarpa - COO, CFO, Principal Accounting Officer and EVP
Susan Anderson - FBR Capital Markets
Dorothy Lakner - Topeka Capital Markets
Betty Chen - Mizuho Securities
Anna Andreeva - Oppenheimer
Lorraine Hutchinson - Bank of America/Merrill Lynch
Taposh Bari - Goldman Sachs
Jennifer Davis - Buckingham Research Group
Steph Wissink - Piper Jaffray
Adrienne Tennant - Janney Capital
John Morris - BMO Capital
Dana Telsey - TAG
Brian Tunick - JPMorgan
Marni Shapiro - The Retail Tracker
Janet Kloppenberg - JJK Research
Rick Snyder - Maxim Group LLC
Lee Giordano - CRT Capital
Rick Patel - Stephens Incorporated
Jay Sole - Morgan Stanley
Richard Jaffe - Stifel Financial
Good day, everyone, and welcome to
The Bon-Ton Stores, Inc. (NASDAQ:BONT)
Q2 2014 Earnings Conference Call
August 21, 2014 10:00 ET
Jean Fontana - Investor Relations
Brendan Hoffman - President and Chief Executive Officer
Keith Plowman - Executive Vice President and Chief Financial Officer
David Glick - Buckingham Research Group
William Reuter - Bank of America/Merrill Lynch
Ed Yruma - KeyBanc Capital Markets
Todd Harkrider - UBS
Steve Ruggiero - R.W. Pressprich
Hale Holden - Barclays
Good day and welcome to The Bon-Ton Stores Incorporated Fiscal Second Quarter 2014 Earnings Results Conference Call. Please note, today’s conference is being recorded. At this time, I would like to turn the call over to Ms. Jean Fontana for Bon-Ton. Please go ahead, ma’am.
Jean Fontana - Investor Relations
Thank you. Good morning and welcome to the Bon-Ton’s second quarter fiscal 2014 conference call. Mr. Brendan Hoffman, President and CEO and Mr. Keith Plowman, Executive
SolarCity (NASDAQ:SCTY) is on an outstanding run this year, and there seems to be no looking back for the solar player. In fact, SolarCity reported first-quarter revenue amounting to $61.3 million, which is almost double as compared to the previous year's quarter, while the estimates were looking for revenue just above $60 million. In addition, SolarCity yielded a net loss of $0.96 per share, less than the estimated $1.00 per share.
Hence, SolarCity seems to be making good strides in the business, and a closer look at its prospects will tell us that the company is well-positioned to deliver long-term growth.
Focusing on efficiency
SolarCity recently acquired solar module manufacturer Silveo, which sent the stock soaring. This acquisition is believed to be worth the risks, given that it comes with a great opportunity. Silveo makes high efficiency solar panels, and SolarCity has acquired it for $200 million in stock and
Rig operating companies have witnessed a challenging year on relatively difficult market conditions. Seadrill (NYSE:SDRL) stock is down 6.5% for 2014, Ensco (NYSE:ESV) is down 12.8% for the year, Transocean (NYSE:RIG) is down 19% and Ocean Rig is down 3.7% for the year.
What I believe is that the downside in offshore drilling companies is temporary and the long-term fundamentals are strong. In the last few years, some of the biggest oil discoveries have been offshore and this trend is likely to continue.
Further to this, oil prices will remain firm as geo-political tensions around the world are high. This will support drilling activity as break-even is achieved for oil & gas companies. As a broad conclusion, I therefore believe that the recent correction in offshore drilling companies is a good buy opportunity.
In this investment thesis, I will discuss Paragon Offshore (NYSE:PGN), a recent spin-off of Noble
G Willi-Food International Ltd (NASDAQ:WILC)
Q2 2014 Earnings Conference Call
August 21, 2014, 11:00 AM ET
Zwi Williger - Chairman
Gil Hochboim - Chief Executive Officer
Ladies and gentlemen welcome to the G Willi Food Shareholders 2014 Second Quarter Earnings Conference Call. During this presentation all participants will be in a listen-only mode. After the presentation, we will have a question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded today, Thursday, August 21, 2014.
Joining us today are Zwi Williger, Chairman; and Gil Hochboim, CEO. Before we begin, I remind all listeners that throughout this call, the Company and its representatives may make forward-looking statements within the meaning of Safe Harbor Provisions of the Private Securities Legislation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or the successful execution of the Company’s strategic plan
This year has seen biotechs on a rockier road, but those companies that have continued to develop broad pipelines have fared a little better. Nektar Therapeutics (NASDAQ:NKTR) belongs on that list, as the company continues to move forward with an array of late-stage assets and a deep pipeline based upon its PEGylation technology (a technology that alters pre-existing drugs to improve efficacy, tolerability, and so on). Not only does Nektar still look undervalued, I believe that the assumptions underlining that valuation are still conservative enough that de-risking events (namely clinical trial results) can add meaningful value.
Movantik Should Reach The Finish Line Soon
Movantik, Nektar's PEGylated naloxol (also known as NKTR-118) has less than a month to go before it should receive FDA approval. This oral opioid antagonist has shown statistically significant efficacy versus placebo in multiple studies of opioid-induced constipation (or OIC) with a pretty clean safety profile.