You can read the original version online:
http://ymlp254.net/zzAzS8 ——————————————————————————– March 3, 2013 Week & Month In Review…
Week / Month In Review For February 25 to March 1, 2013 Canadian Companies mentioned include:
* Western Wind Energy Corp. (TSX-Venture:WND) * Semafo Inc. (TSX:SMF) * Cequence Energy Inc. (TSX:CQE) * Automodular Corporation (TSX:AM) U.S. Companies mentioned include:
* Shanda Games Ltd. (NASDAQ:GAME) Spotlight Companies Mentioned:
* LX Ventures Inc. (TSX-Venture:LXV) * Lustros Inc. (OTCQB:LSTS) This week on AllPennyStocks.com:
* Article Published, February 26, 2012: Waterloo Resources Gets Acquisition Experts in Merger with Lowell Copper (http://www.allpennystocks.com/aps_ca/special-reports/332/waterloo-resources-gets-acquisition-experts-in-merger-with-lowell-copper.htm) (CDN Company) * Article Published, February 27, 2013: Cyber Kiosk Systems Lowers Authorized Shares and Share Count Without a Reverse Split (http://www.allpennystocks.com/aps_us/special-reports/336/cyber-kiosk-systems-lowers-authorized-shares-and-share-count-without-a-reverse-split.htm)(U.S. Company) * Article Published, March 1, 2012: Getting Exposed to Naked Brands as It Prepares for New Product Launch (http://www.allpennystocks.com/aps_us/special-reports/337/getting-exposed-to-naked-brands-as-it-prepares-for-new-product-launch.htm) (U.S. Company) Video charts for the week:
* February 27th Technical Video Chart For GAME. The chart for Shanda Games is making a move off support around $3.00, an area of support it has been holding for nearly three months. The topside of the channel is at around $3.30, but a break of that could signal a stronger move to come towards old highs around $3.85. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/NT_Cm23BP-0 ).
* February 27th Technical Video Chart For SMF:CA. The Semafo chart is making a nice rise off the bottom and coming upon some resistance around $3.15. The indicators are shifting, putting technical traders on alert for higher lows to be made and for the chart to continue the reversal towards more resistance around $3.50. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/4wfNuf0jT1g ).
Featured Link: BullishInvestor.com ( http://www.bullishinvestor.com ) – Offering Free U.S. and Canadian technical analysis charts, bullish/bearish ratings and stock screening tools for over 15,000 stocks utilizing technical analysis techniques such as candlestick charting, technical analysis indicators as well as volume and trend analysis.
WEEKLY & MONTHLY UPDATE -MARKETS LOSE STEAM AS SEQUESTER ARRIVES Stocks in North America trudged ahead again this past week with economic news, both domestic and foreign, as the clear market driver see-sawing stocks up and down. The elections in Italy were putting a spotlight on financial turmoil that still underscores the region and data from China tightened the noose around the neck of commodities.
The United States added more than its fair share of drama to the situation with the so-called sequester, a series of tax cuts set to go into effect on March 1 in focus. By large, most economists figured that lawmakers were going to cobble together a deal at the last minute just like they did to avoid the fiscal cliff at the beginning of the year.
That did not happen, though.
No deal was struck and the politicians adjourned with the cuts going into effect. President Obama said on Saturday that “These cuts are not smart, they will hurt our economy and cost us jobs.” The President also said that the effects will be “very real” and ripple across our economy. The Democrats and Republicans have been standing toe-to-toe on spending cuts for months now to assemble a new budget, but no compromises were reached. Next week will be a tell-tale of how Wall Street will react as the spending cuts start setting in, but also keeping in mind that a new budget can still happen at any time.
Fed Chairman Ben Bernanke was also the man of the hour, undergoing questioning from both the Senate Banking Committee and House Financial Services Committee this past week. While sometimes looking like a little bead of sweat was running down his forehead, Big Ben fielded all the sometimes contentious commentary towards the Federal Reserve with the key take-away that he was not backing down on the $85-billion per month quantitative easing policies in place anytime in the near future. Bernanke repeatedly noted that it was good for the nation`s economy and helping in the recovery.
What really helped the US markets was another full round of housing data that showed the markets holding a firm path to recovery with the number of home sales and the prices of homes steadily climbing in recent months.
Gross domestic product information was also highlighted this past week from both Canada and the U.S. with both countries showing stalling economic growth that disappointed investors – and punished commodities in the case of Canada.
Government data from China showed that manufacturing activity crept along in February, spooking investors that the world`s second biggest economy was stumbling after posting strong factory figures in January.
The Beijing-sponsored version of the manufacturing Purchasing Managers` Index came in at 50.1 for February, down from January and barely above the 50 reading that signals expansion for the index.
The elections in Italy were hot on the mind of investors as a reminder of the disarray in Europe. With no clear winner in the elections, investors are concerned that the gridlock in the Italian government is going to jeopardize austerity measures and the overhaul of the economy to get it back on track which could derail the Italian bond markets and reignite the death spiral for the economy. In turn, massive pressures could be put back on the ECB to take actions to help the country. This too, will have to play itself out further as March moves forward.
So ultimately what the final week of February delivered was a little bit of chaos. Worries over global economic conditions had cooled in January and the first part of February, allowing the Dow Jones Industrial Average and S&P 500 to push within spitting distance of all-time highs, but that seems to no longer be the case. These situations are more than likely going to control the markets next week as investors digest what they can all mean in both the near and long term.
The Canadian dollar fell for the fourth straight week against the US dollar on concerns about the world`s 11th largest economy is continuing to sputter and EU worries generally strengthened the greenback. With the loonie weakening each week in February, it now sits at the lowest level versus the USD in eight months. Across the week, the Canadian dollar faded 0.46% on the US dollar, so next week will begin with one Canadian dollar buying US$0.9741. After starting February slightly above parity, the Canadian dollar fell 2.85 percent against the US dollar. It was the biggest one-month drop since May.
* Gold futures had a volatile week as gold bulls cheered Fed Chairman Ben Bernanke`s commentary early in the week that the Federal Reserve was not backing-off its monetary easing policies, but fell later in the week with US economic data showing the economy continues to mend, stifling gold`s allure as a safe haven and strengthening the US dollar. The result was after a nearly $50 climb early in the week, gold ended up basically right where it started. April contracts were the most actively traded; slipping 0.03%, or $0.50 per ounce, to close the week at $1,572.30 on the Comex division of the New York Mercantile Exchange. Across February, spot gold fell 5.12%, or $85.20 per ounce.
* Silver futures took cues from global demand concerns and are now facing a situation called “backwardation,” meaning front month silver futures contracts receive a higher price than subsequent months. It`s a scenario that doesn`t happen frequently and indicates that current demand is outpacing perception of future demand and also can signal that there are many future short positions being held. After trying to spark a little rally during the first three days of the week, prices for the white metal gave it back heading into the weekend to end the week flat and the month with large losses. Silver for May delivery was the most actively traded; inching ahead by only 0.11%, or $0.03, to $28.49 per ounce on the week, but tumbling 9.37%, or $2.95 per ounce, for the month of February.
* Copper prices continued to plunge, falling back to mid-November levels this past week. After a basically flat week through Thursday, data from China and London showing growing stockpiles of copper sent the reddish metal down quickly on Thursday and Friday (losing about a dime per pound). China`s official purchasing managers index was lower in February at 50.1 off from 50.4 in January, indicating that the world`s biggest copper consumer may not be needing to chew through the massive inventory of copper very quickly. May contracts were the most actively traded on New York`s COMEX exchange during the week; declining 3.2 cents, or 0.91%, to $3.501 per pound. For the month, copper prices dropped by 18.3 cent, or 4.90%, per pound.
* Oil prices kept the string of weak commodities alive with settlements at nine-week lows. The purchasing managers information from China also weighed on oil prices as China is the second largest consumer of oil in the world. The theme was actually the same this week as it has been for most of February for all commodities with the sequester starring at the US, Italy and other EU countries in some turmoil and China going back and forth with flashes of growth keeping investors completely on the edge of their seats. The worries simply kept investors very cautious and playing the downside trends that are being established. April contracts for West Texas Intermediate crude were the most actively traded and closed the week down by $2.45, or 2.63%, at $90.68 per barrel. For all of February WTI spot crude fell 5.76%, or $5.61, per barrel.
Equity Market Snapshot:
(All percentages on a weekly basis unless otherwise noted) * Major gold miners were mixed this past week. Agnico-Eagle Mines (TSX:AEM, +0.39%), Kinross Gold (TSX:K, +0.06%) and Goldcorp (TSX:G, +0.60%) advanced, but Newmont Mining (TSX:NMC, -1.52%), Barrick Gold (TSX:ABX, -2.96%) and Yamana Gold (TSX:YRI, -0.65%) sifted-off a few points.
* Energy stocks followed the broad markets and not the price of crude. Canadian Natural Resources (NYSE:CNQ, +4.84%) and Exxon Mobil (NYSE:XOM, +0.26%) closed the week ahead, but Cenovus Energy (NYSE:CVE, -0.78%), Imperial Oil (NYSE:IMO, -0.02%), Suncor Energy (NYSE:SU, -3.36%) and Talisman Energy (NYSE:TLM, -3.66%) docked some points.
* Nexen Inc. (TSX:NXY, +1.14%), the Calgary-based oil and gas producer being taken over by a state-owned Chinese company, posted a quarterly net loss of $6 million, or two cents share, citing impairment charges on natural gas properties and costs associated with its Long Lake oilsands project.
* The biggest of banks in the US were largely weaker again this past week. JPMorgan Chase (NYSE:JPM, +0.00%) closed even while Bank of America (NYSE:BAC, -0.78%), Citigroup (NYSE:C, -1.59%), UBS AG (NYSE:UBS, -3.60%), Wells Fargo & Co. (NYSE:WFC, -1.20%) and Goldman Sachs Group (NYSE:GS, -1.98%) all lost value. XLF (NYSE:XLF, -0.56%), the financials select sector SPDR that tracks the financial stocks in the S&P 500, fell for the second straight week.
* The biggest banks in Canada performed a little better than their North American peers. The Bank of Nova Scotia (TSX:BNS, +1.31%), Bank of Montreal (TSX:BMO, +1.54%), Toronto-Dominion Bank (TSX:TD, +0.85%) were up, as Canadian Imperial Bank of Commerce (TSX:CM, -1.50%), National Bank of Canada (TSX:NA, -0.13%) and Royal Bank of Canada (TSX:RY, -0.75%) were down.
* Bank of Montreal reported that its net income faded to $1.05 billion, or $1.53 per share, from $1.12 billion or $1.63 per share a year earlier. On an adjusted basis, earnings were $1.52 per share, beating analyst expectations of $1.48 per share.
* TD Bank reported $1.79 billion of net income before adjustments, topping the year prior quarter by about $300 million. The bank also said that it will boost its quarterly dividend by 4 cents to 81 cents per share. Adjusted earnings were $2.00 per share, beating analyst predictions of $1.92 per share.
* Groupon Inc. (NASDAQ:GRPN, -10.84%) reported consolidated revenue of $638.3 million, up 30 percent from the year prior quarter`s $492.2 million, but just shy of analyst predictions of $640.2 million. On a GAAP-basis, Groupon posted a net loss of $81.1 million, or 12 cents per share. Wall Street anticipated a GAAP net loss, but only 2 cents per share. The next day, CEO and co-founder Andrew Mason was fired.
* Best Buy Co., Inc. (NYSE:BBY, +0.82%) rallied from lows after it was reported that founder Dick Schulze will not buy out the big box retailer and take it private. Schulze, who owns about 20% of Best Buy`s shares, had until Thursday to provide an offer, but never did after months of rumors that Schulze was going to find a partner and make it happen.
* FarmVille and other social games maker Zynga, Inc. (NASDAQ:ZNGA, +7.52%) shares got a lift from Nevada passing online gambling laws and reports New Jersey will be doing the same.
* Home improvement retailer Home Depot, Inc. (NYSE:HD, +5.26%) reported strong year-end results, providing more evidence of a housing rebound. The company reported a 7 percent gain in same-store sales for the fourth quarter.
* Shares of Barnes & Noble, Inc. (NYSE:BNS, +15.69%) jumped after Chairman Leonard Riggio announced his intentions to buy the company`s retail operations, leaving the Nook electronic book segment a separate company. No prices in the deal were provided.
* Deckers Outdoor Corp. (NASDAQ:DECK, +14.94%) saw shares advance following a fourth-quarter earnings statement that beat estimates. For Q4, Decker reported a 23 percent decline in net income to $97 million, or $2.77 per share, versus $126 million, or $3.18 per share, from the year prior. The declines still topped expectations for EPS of $2.57.
Revenue grew 2 percent to $617.3 million revenue, shy of analyst predictions of $621.9 million.
* Sears Holdings Corp. (NYSE:SHLD, -6.00%) lost ground for the week despite beating earning estimates as the retailer tightened up net losses during the fourth quarter. Revenue contracted to $12.26 billion from $12.48 billion in the year prior quarter. Net loss was $489 million, or $4.61 per share, down sharply from a net loss of $2.4 billion, or $22.63 per share, in the fourth quarter of 2011. Excluding items, adjusted earnings per share were $1.12, more than doubling the 54 cents EPS from the last year`s quarter. Both figures topped Wall Street expectations of 98 cents and $11.78 billion, respectively.
* J.C. Penney (NYSE:JCP, -21.27%) shares tumbled after the retailer reported a dismal fourth-quarter loss and weak same-store sales. For the fourth quarter, JCP said its fourth-quarter net loss was $428 million or a $985 million loss for the full year. Revenue decreased to $3.88 billion from $ 5.43 billion in the previous year, short of analysts` expectations of $4.08 billion.
* Specialty clothier Gap Inc. (NYSE:GPS, +5.98%) said Q4 sales were up 11 percent to $4.73 billion, topping analysts` forecasts of $4.69 billion in revenue. EPS of 73 cents also beat expectations of 71 cents per share for the quarter.
Weekly Indices Results:
The S&P TSX Composite Index rallied after two down weeks; recovering 71.49 points, or 0.56%, to 12,773.12. The TSX Venture Exchange is now falling into heavily oversold territory with its fourth straight weekly decline; losing 24.59 points, or 2.15%, to 1,120.09.
In the States, the Dow Jones Industrial Average got its footing again to test all-time highs; advancing 89.09 points, or 0.64%, to 14,089.66. The much-broader S&P 500 nudged upward; rising by 2.60 points, or 0.17%, to close at 1,518.20. The tech-rich NASDAQ Composite completed the green sweep for big boards; rising by 7.92 points, or 0.25%, to 3,169.74 on the week.
Canadian Economic Data:
* Statistics Canada said that in January, the Industrial Product Price Index (IPPI) remained at the same level as in December. Lower prices for chemical products largely offset gains elsewhere, including an advance in petroleum and coal products. The Raw Materials Price Index (RMPI) rebounded with a 3.8% gain, mostly because of higher prices for crude oil.
* StatsCan also reported that real gross domestic product (GDP) edged up 0.2% in the fourth quarter, similar to the gain in the third quarter. On a monthly basis, real GDP by industry declined 0.2% in December. Final domestic demand was up 0.6%, compared with a 0.2% gain the previous quarter. Household and government final consumption expenditures and business fixed capital investment all increased.
Inventory investment slowed sharply from the third quarter. Imports were down, while exports increased slightly. Mining and oil and gas extraction was the main source of industrial growth in the fourth quarter. Construction, the public sector, utilities and the finance and insurance sector also increased. Manufacturing recorded a significant decrease (- 2.2%), with both durable and non-durable goods production retreating. The arts and entertainment sector, transportation and warehousing as well as wholesale trade also declined.
Next week, economic data will show a healthy week of information, including the IVEY Purchasing Managers Index and the Bank of Canada Interest Rate announcement on Wednesday; Canadian International Merchandise Trade and Building Permits on Thursday; and The Labour Force Survey and Housing Starts on Friday.
U.S. Economic Data:
* The Commerce Department reported that purchases of new homes in the US surged by 15.6 percent in January from December to a seasonally adjusted 437,000 annual pace, representing the highest level since July 2008. Economists were expecting only a 380,000 annualized rate.
The report also showed that the median sales price of new houses sold in January was $226,400 and the average price was $286,300.
* The Commerce Department said that orders for durable goods, items meant to last more than three years, contracted in January on smaller bookings for aircraft, although, excluding the volatile segments, orders for long-lasting goods expanded for the fifth straight month.
The report showed that new orders fell by $11.8 billion, or 5.2 percent, to $217 billion for the month, following a 3.7 percent increase in December. Transportation was the main anchor, plunging 19.8 percent for the month compared to December. Excluding transportation, new orders increased by 1.9 percent, the biggest monthly rise in over a year. Orders for so-called “core capital goods,” which don`t count defense or aircraft, rose 6.3 percent from December to January, representing the biggest one-month move in more than two years.
* The Labor Department said that applications for first-time jobless benefits for the week ended Feb. 23 dropped to 344,000 and the number of people collecting unemployment benefits fell to its lowest level since mid 2008. Initial claims for unemployment insurance were down 22,000 compared to the previous week. Economists were expecting a tepid drop to 360,000.
* After saying in January with its original estimate of fourth-quarter gross domestic product that the US economy contracted by 0.1 percent, the Bureau of Economic Analysis found that gross domestic product actually expanded by 0.1 percent in the last quarter of 2012 as shown in its first revision. Better trade data offset major cuts in defense spending to reverse the economy`s direction, although it was still below the growth from the third quarter and well below the 0.5 percent expansion that economists predicted.
* The Commerce Department said personal income dropped to a 20-year low in January as higher taxes kicked in after a strong December that saw incomes expand largely because of dividends being paid to avoid the upcoming increases in taxes. Personal incomes fell 3.6 percent, exceeding economists` forecasts for a 2.5 percent decline. Consumers didn`t seem to care about saving, though, with consumer spending still increasing by 0.2 percent for the month even with the smaller paychecks.
* The Institute for Supply Management reported that its manufacturing index rose by 1.1 percentage points in February to 54.2%, marking its third monthly gain and putting the index at its highest level since June 2011, suggesting that the manufacturing sector is starting the year strong.
Next week, data in the States will bring the ISM Non-Manufacturing Index on Tuesday; ADP Employment Report and Factory Orders on Wednesday; International Trade and Initial Jobless Claims on Thursday; and the latest Employment Situation on Friday.
Penny Stocks to Watch & Company Spotlight Results:
Amongst our “Daily Technical Penny Stocks to Watch,” our biggest mover was Cequence Energy Ltd. (TSX:CQE), which was listed on February 27 while the price per share was $1.42. The stock price made a quick move upward to a high of $1.55 for gains of 13 cents per share, or 9.15 percent, and still looks strong coming off a triple bottom pattern. Congratulations to all the technical traders that followed our technical penny stocks to watch program this week.
The Month at a Glance – February It was a mixed month in February for North American stocks. US equities managed to eke forward while the Canadian exchanges slipped back modestly. It was a heavy month of earnings reports which helped keep optimism high plenty of times in the near term, with about three-quarters of all the S&P 500 companies beating analyst predictions on earnings per share. However, there was a common theme of very cautious outlooks for both the first quarter and the full year, which certainly moderated optimism for 2013.
Canadian equities, which often move in tandem with US stocks, were dealt quite strong headwinds with commodities taking their lumps across the board. The major commodities – gold, silver, copper and crude oil – all lost substantial ground across the month and are finding themselves in strengthening downtrends. Additionally, housing data in Canada is supporting the idea of a bubble looking to pop as economic growth has slowed to a crawl.
Political and regulatory leaders met for the Group of 7 and Group of 20 summits during the month. Leaders provided very scant details about how they will achieve specific goals, such as hatching a plan to reduce public debt, but strongly conveyed that the group has pledged to absolutely not allow a currency war to begin to allow any country to try and devalue their money to support greater trade and bolster their own economy. Japan`s economic minister Akira Amari has stated that he wants to see the country`s benchmark Nikkei exchange at least 2,000 points higher (to 13,000) by the end of March, a bold desire that has other leading policy makers concerned about his plans to make it happen. Point being, other countries are keeping tabs on each other so that one country can`t gain a competitive edge over others.
European concerns re-surfaced early in the month, primarily in Italy and Spain. Spanish Prime Minister Mariano Rajoy is facing calls for his resignation amid a corruption scandal with evidence being presented that Rajoy and other leading members of the Popular Party accepted payments from secret funds over the course of about 18 years to 2008. Nearly 1 million people have called for Rajoy to step-down, but that debate is still far from over at this point.
The European Commission downgraded its outlook for the euro zone, predicting a 0.3 percent contraction in cumulative gross domestic product for the region in 2013. The EC had forecast in November that there would only be a 0.1 percent contraction for the year. GDP shrunk by 0.6 percent in 2012.
To the contrary of the late-month data mentioned above, information from China provided a boon for markets early in the month as info showed that its services sector expanded for the fourth straight month in January. The country`s non-manufacturing index rose to 56.2 in January from 56.1 in December to follow a prior report that the manufacturing sector of China expanded in January as well. Further positive data from China was delivered which showed that both exports and imports in the world`s second biggest economy surged in January.
Topping economist predictions on all accounts, exports rose 25 percent while imports jumped 28.8 percent compared to January 2012, resulting in a trade surplus of $29.2 billion for the leading country. Of course, as noted above, data stymied the markets last week.
Further north, Germany, the biggest economy in the euro zone, continued to be the outlier for the struggling region with seasonally adjusted factory orders reportedly rising 0.8 percent in December from November, topping economist predictions. Further, Markit`s Eurozone Composite PMI, which measures business activity across thousands of EU companies, climbed to a 10-month high in January, showing that the region is seeing a mild recovery from the sovereign debt crisis that plunged the euro zone into a recession in 2012.
Despite the ups and downs, the Dow ended February 108 points from a new record high. The S&P 500 is 58 points from an all-time high.
Does it seem a bit ironic given some of the political and economic struggles that we discuss regularly It sure does. With the budget cuts in Washington going into effect, consumers feeling the impact of higher taxes and corporations issuing bland outlooks, March should be an interesting month.
Monthly Indices Results:
* S&P TSX Composite: down 0.38% (-48.71 pts.) * TSX-Venture: down 1.17% (-13.27 pts.) * Dow Jones Industrial Average: up 0.25% (+35.17 pts.) * S&P 500: up 0.23% (+3.52 pts.) * NASDAQ: up 0.30% (+9.55 pts.) Monthly Equity Market Snapshot:
(All percentages on a monthly basis unless otherwise noted) * BlackBerry (TSX:BB, -2.50%), the company formerly known as Research in Motion, had a busy month of news. Early in the month, strong sales in the UK were being rumored and then later in the month, the opposite. MKM Partners slapped the phone maker with a downgrade, saying the odds are greater that its new BB10 phones and operating system will fail, rather than succeed. Sales in the US are starting this month. The company also faced a series of government contracts being lost to Apple, Inc. (NASDAQ:AAPL, -2.48%). Canaccord Genuity slashed its estimate of BlackBerry BB10 smartphone shipments in February to just 300,000 units, well short of its earlier estimate of more than 1.75 million.
* Warren Buffett`s Berkshire Hathaway (NYSE:BRK.B, -0.11%) and Brazilian financier Jorge Paulo Lemann`s 3G Capital announced a partnership to buy ketchup maker H.J. Heinz Co (NYSE:HNZ, +0.06%) for $23.2 billion, in what is being called the biggest deal in the industry`s history. Including debt assumption, the transaction puts the value of Heinz at $28 billion, or $72.50 per share. In a somewhat separate matter, securities regulators have already filed a suit against a still unknown trader, claiming that inside trades were made before the deal was announced that generated unrealized profits in excess of $1.7 million.
* US Airways Group (NYSE:LCC, +1.34%) and American Airlines parent AMR Corp. (Pink Sheets:AAMRQ, +0.80%) officially announced an $11-billion merger to create the world`s largest airline. AAMRQ was just recently a topic of interest on AllPennyStocks.com prior to it`s huge run-up over the last few weeks, investors can read the article by going here: (http://www.allpennystocks.com/aps_us/special-reports/332/amr-corporation-shows-that-not-all-bankruptcy-plays-are-bad.htm).
* Enbridge Inc. (NYSE:ENB, +0.31%) reported it had a fourth-quarter net profit of $146 million, or 18 cents per share, on revenue of $7.2 billion. On an adjusted basis, the profit amounted to $327 million, or 42 cents per common share, two cents below analyst estimates. Enbridge also said that it is starting a 50/50 joint venture with Energy Transfer Partners (NYSE:ETE, +1.62%) to convert some of Enbridge`s natural gas capacity to ship crude oil from a pipeline hub in Illinois to refineries in the eastern Gulf Coast refinery market.
* Herbalife Ltd. (NYSE:HLF, -0.47%) said that it was demanding a correction from the New York Post after the newspaper reported the Federal Trade Commission was investigating it. Herbalife has been hot-button recently with high-profile fund managers taking opposing views on whether or not the company is what Bill Ackerman termed a “pyramid scheme.” Billionaire activist investor Carl Icahn is on the other side, disclosing that he owned 13 percent of Herbalife.
* The situation around Michael Dell and Silver Lake Partners looking to take Dell Inc. (NASDAQ:DELL, +0.36%) private hit some controversy as Southeastern Asset Management, the largest independent shareholder of the company sent a letter to the Dell board (and the S.E.C.) voicing their extreme disapproval of the $24.4 billon offer by the CEO and founder. Southeastern said it will do everything it can, including, but not limited to a proxy war, to try and stop the transaction. Dell rival Hewlett-Packard Co. (NYSE:HPQ, +0.05%) didn`t miss a beat, stepping up to say that they will be targeting Dell customers during the process.
* Oracle Corp. (NASDAQ:ORCL, +1.14%) said that it will spend about $2 billion to acquire Acme Packet Inc. (NASDAQ:APKT, +0.15%), a provider of voice, video and data services over Internet Protocol networks.
* Carnival Corp. (NYSE:CCL, +0.02%) saw its shares drop, but then recover as its Triumph cruise ship, which had caught fire, lost power and stranded cruise goers at sea as a result, finally docked and allowed 3,000 passengers to exit the vessel. The first of what will probably be several lawsuits against the cruise operator has already been filed.
* In a deal many saw coming, Office Depot Inc. (NYSE:ODP, -0.50%) and smaller rival OfficeMax Inc. (NYSE:OMX, -0.17%) agreed to merge in a transaction comprised of a $1.17-billion stock swap. The deal gives OMX shareholders 2.69 shares of Office Depot for each share of OfficeMax held. The transaction was at a 26 percent premium to the closing price on the prior Friday, when word of the possible merger was leaked. The announcement was released by Office Depot in a fourth-quarter earnings statement posted on its website before the news actually went public. ODP pulled the report after realizing the blunder and then reposted later.
Monthly Penny Stocks To Watch Leaders & Company Spotlight Results:
Among the technical stocks that we watched in February, the champion of the month was Stellar Biotechnologies Inc. (TSX-Venture:KLH) which was listed on February 15 at 49.5 cents. Shares swelled all the way to a high of 72 cents in a matter of days, representing a gain of 45.45 percent. Shares are still holding gains above 20 percent after a pullback from the highs and will remain upon radar for the upward trend to continue. We congratulate all the followers of our “Penny Stocks to Watch”and we look forward to another solid month of penny stocks to watch in March.
We`d also like to remind our members to take a look at our latest corporate profiles on both the U.S. and Canadian sides of our website.
In the States, Lustros, Inc. (OTCQB:LSTS) has seen a substantial increase in trading activity, including a nice share price spike in the past two weeks. Shares have pulled back some, potentially offering a value proposition as the chart is developing an uptrend in the broader perspective. The company announced recently that it added William Farley as its Chairman and Chief Executive Officer. Furley has a history of raving successes, including being the previous owner of Fruit of the Loom, Inc., more than doubling the size of the company and then selling it to Berkshire Hathaway for $1 billion. That fact alone should have investors curious as to what he has planned for Lustros, to fead the full profile, click here: (http://www.allpennystocks.com/aps_us/company_spotlights/archives/lsts.asp).
LSTS Founder and Vice Chairman was also recently interviewed by SmallCapVoice.com, with the Founder having plenty to say about the Company and its future prospects we encourage all investors interested in this Company to have a listen. The full interview can be found here:
On the Canadian side of the market, we have already seen how quickly LX Ventures Inc. (TSX-Venture:LXV) can move. The stock price is holding up more than 10 percent above our initial profile price after rising as high as 30 percent on Feb. 21. We encourage you to read the profile: (http://www.allpennystocks.com/aps_ca/company_spotlights/archives/lxv.asp) on this extremely interesting tech incubator company as it offers a very rare opportunity for public investors to get a piece of private companies before the potentially hit it big.
————————- Forward Looking Statements This report includes forward-looking statements that reflect the mentioned companies current expectations about its future results, performance, prospects and opportunities. the mentioned companies has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “we are confident” or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause the mentioned companies actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company`s growth expectations and ongoing funding requirements, and specifically, the Company`s growth prospects with scalable customers, and those outlined above. Other risks include the Company`s limited operating history, the Company`s history of operating losses, consumers` acceptance, the Company`s use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company`s securities, the possible volatility of the Company`s stock price, the concentration of ownership, and the potential fluctuation in the Company`s operating results.
Disclaimer AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable.
For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company`s expectations and estimates.
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