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First Solar, Inc. (NASDAQ: FSLR) has completed its acquisition of OptiSolar’s photovoltaic project pipeline. The company said that it expects to construct the solar power plants developed under the pipeline over the next several years. It also still plans to sell them to regulated utilities, diversified energy companies and other independent power producers. What is interesting is that the deal looks cheaper than when it was first announced, at least as far as shareholders and their expected dilution are concerned.
Daily Archives: April 3, 2009
First Solar Sees Less Dilution For Acquisition (FSLR)
The Anatomy of a Web Advertising Scam
Investigating the people behind those sketchy flat-stomach ads.
By Chadwick Matlin for The Big Money
The Internet wants me to have a flat stomach—and it wants me to have it for free. Over the last few months, those flat stomach ads have followed me around the Internet like a beggar asking for money. On many of my favorite Web sites (including the ones I work for), high-class Internet advertising has been replaced by these low-budget pictures promising a better physical and superficial life.
The ads plead: Wouldn’t I like to click and read a flat-stomach testimonial? And from there, wouldn’t I like to click to see a product that could help me get that flat stomach without even trying? And from there, wouldn’t I like to order that product for free? And wouldn’t I like to give them my credit card info? And wouldn’t I like to investigate a mysterious charge on my credit card bill 30 days after I subscribe to my free product? And wouldn’t I like to hold for two hours while I try to cancel my account after I realize I’ve been had?
Less Natural Gas Drilling, More LNG Imports? (BHI, LNG, BP, CHK, XTO)
We’ve been closely tracking the weekly rig counts published by Baker Hughes Inc. (NYSE:BHI) for a while now. Drilling for oil has slowed significantly in the US, and drilling for natural gas has slowed even more. A year ago, Baker Hughes counted 1,227 gas rigs; last week, there were just 810, a drop of 44%. The biggest drop came in vertical rigs, with horizontal drilling off much less. Horizontal drilling is common in the shale gas plays such as the Barnett and Haynesville shales, and tends to drain the reservoirs more quickly than traditional vertical or directional drilling.
Read More
Legalized Medical Marijuana Company Now Public Stock, Really (CVIV)
If you thought that the legalized marijuana for medicinal purposes was a controversial, imagine how controversial it would be if a company was public in the sector of legalized marijuana. Forget the “if” in the equation. This week, a small and formerly unknown company called Club Vivanet announced that it is the first public company to enter the legalized, medical marijuana business. The company even changed its name to Medical Marijuana, Inc. While it does not trade on the NYSE nor on the NASDAQ, the stock does trade over-the-counter under the ticker “CVIV” and is listed as Medical Marijuana, Inc. (OTC: CVIV) on the pink sheets.
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Apple (AAPL) Without Jobs Now Seeing A Six-Month High
Apple Inc. (Nasdaq: AAPL) today is hitting levels not seen since October. Apple today crossed the $114 level and is up over 33% for 2009.
Apple’s stock sold off in the middle of January after Apple disclosed Steve Jobs health related issues were more complex than previously disclosed and Steve Jobs was going on medical leave until June. After the news came out on January 14th, Apple’s stock 10% to $76.50. The next day StreetInsider penned a piece that said a Jobs-Less Apple would not hurt Apple’s stock and 35% later this story continues to prove true.
NRG is the Company of ‘No’ (NRG, EXC, RRI)
NRG Energy Inc. (NYSE:NRG) has sent a long letter to shareholders counseling them not to vote for the new slate of directors being proposed by Exelon Corporation (NYSE:EXC). NRG notes that the price of Exelon’s fixed exchange ratio offer has dropped 17% since Exelon first announced its proposal to acquire NRG. The company is still pounding the point that Exelon’s offer is “inadequate and unacceptable.” NRG also points out that its proposed acquisition of Reliant Energy Inc.’s (NYSE:RRI) retail business will result in the addition of $150-$200 million in annual EBITDA for NRG shareholders beginning immediately.
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Kimco’s Huge Stock Offering (KIM)
Kimco Realty Corporation (NYSE: KIM) has priced its huge secondary offering of common stock. The size was a lofty 91,500,000 shares at a price of $7.10 per share. Shares closed yesterday at $7.49 and the 52-week trading range is $6.33 to $47.80. What is interesting is that the shares of this community and shopping center REIT are not trading at any discount so far. They are trading at a premium.
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Double-Digit Unemployment, Now ‘When’ Rather Than ‘If’
Unemployment is said to be a lagging indicator. Even if we had not been calling for higher rates than this for quite some time, the data on employment is bad enough that you have to wonder just how lagging this reading really is. The unemployment rate for the month of March 2009 came in at 8.5% and the change in non-farm payrolls came in at -663,000. Bloomberg had these estimates at 8.5% for unemployment and at -650,000 for the change in non-farm payrolls. What is interesting is that many economists were hinting that a reading of -700,000 on the payrolls numbers was possible.
Top Analyst Downgrades (AKAM, BMY, KMX, ESLR, GOL, HGSI, MON, SCHN, TDC, UA, DIS, WFMI)
These are the top pre-market analyst downgrades and negative research calls we have seen from Wall Street early this Friday morning:
Akamai Tech (AKAM) Cut to Hold at Citigroup.
Bristol-Myers Squibb (BMY) Cut to Market Perform at Bernstein.
CarMax (KMX) Cut to Underperform at Wachovia.
Evergreen Solar (ESLR) Started as Sell at Canaccord Adams.
GOL Linhas Areas Inteligentes S.A. (GOL) Cut to Underweight at JPMorgan.
Human Genome Sciences (HGSI) Cut to Market Perform at Bernstein.
Monsanto (MON) Cut to Neutral at JPMorgan.
Schnitzer Steel (SCHN) Cut to Sell at UBS.
Teradata (TDC) Started as Underweight at Thomas Weisel.
Under Armour (UA) Cut to “Negative” at Susquehanna.
Walt Disney (DIS) Cut to Neutral at JPMorgan.
Whole Foods (WFMI) Cut to Hold at Jefferies.
JON C. OGG
Top Analyst Upgrades (STD, DVN, ELN, RIMM, TJX, VOD)
These are some of the top pre-market analyst upgrades and positive research calls we have seen early this Friday morning:
Banco Santander (STD) Raised to Outperform at KBW.
Devon Energy (DVN) Raised to Outperform at FBR.
Elan (ELN) Raised to Neutral from Sell at Piper Jaffray.
Research in Motion (RIMM) Raised to Hold at Deutsche Bank; Raised to Outperform at CIBC; estimates and price targets adjusted higher by at least 5 other firms so far this morning.
TJX Cos. (TJX) Started as Outperform at RBC.
Vodafone (VOD) Raised to Outperform at Credit Suisse.
JON C. OGG
Letting Banks Use TARP Money To Make Profits On Other Banks
A lot of people and members of Congress are upset that banks that took TARP money may buy toxic assets from other banks.
There does not seem to be any problem with the arrangement. The banks which took taxpayer money should make a profit on the transactions. At least that is the outcome the Treasury is predicting to get private money into the programs. The financial firms that sell their bad paper will not need to raise capital in the future because they won’t have to take future write-offs if the value of these assets keep dropping. They will belong to someone else. That should save taxpayers money as well and may stimulate lending by banks with improved balance sheets. Read More
Can The Weak Stocks Catch Up Now? (MSFT)(HPQ)(CSCO)(INTC)(SHLD)(JWN)(TGT)(XOM)(BP)(COP)
The person who first said that a chain is only as strong as its weakest link has never lifted a V8 out of a Ford Mustang. But, the analogy works in most cases and now, as much as ever in the last year, it gets to be tested in the stock market.
The S&P 500 is up 25% in just over three weeks. Many analysts say that there is no reason that the run-up should be so sharp. The rally would be more “sustainable” if the climb was gradual and slower. That is probably true. Cautious investors are inclined to sell stocks that move up quickly to lock in profits. They are afraid that the market can’t go up forever. Those sentiments undercut future advances in stock prices. Read More
Reconsidering Apple (AAPL)
For a company which may have the most well-regarded premium brand in the world, Apple’s stock has been certainly been buffeted by unsatisfied investors. The shares have recovered some since the beginning of March, but over the last year they are down more than 25%. When investors are nervous, even the strongest brands get very little consideration. Read More
The 24/7 Wall Street-Channel Checkers Look At GameStop (GME)
As part of The 24/7 Wall St–The Channel Checkers survey series, 0ver the past week, The Channel Checkers surveyed 24 GameStop (GME) and EB Games (same parent company) stores across the United States to track sales trends of gaming consoles and video games.
Here is what we asked:
1. What is the best selling game platform?
2. What is the best selling video game right nowt?
3. What will be the next big game released over the next three months? Read More
Weekly AAPL Headline Roundup: April 3
The iPhone dominates this week’s top stories, aggregated from 24/7 Wall St. partner Apple Investor News:
• Two new iPhone models coming? Lazard Capital Markets analyst Daniel Amir tells CNET a high-end 32GB model (iPhone 3G Pro?) and a lower-end model, without Wi-Fi for emerging markets, may be in the offing. He also expects Q1 iPhone shipments to be close to 4 million, higher than the street’s estimate of 3 to 3.5 million. Read More
Media Digest 4/3/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Congress passed the Obama budget
Reuters reports that cautious optimism greeted plans from the G-20 summit.
Reuters reports that banks are considering buying toxic assets sold by other banks.
Reuters reports that GM (GM) and its creditors and unions are in a footrace to restructure the company.
Reuters writes that US CEO pay fell last year.
Reuters reports that Congress is near legislation for insurance firms.
Reuters reports that US non-farm payrolls probably dropped by 650,000. Read More
Asia Markets And Europe Open 4/3/2009
Markets in Asia were mixed
The Nikkei rose .3% to 8,749.
The Hang Seng fell .4% to 14,463.
The Shanghai Composite was off .2% to 2,420.
In Europe, at the open, the FTSE was off. 2%o . The Dax .8% to 4,438 and the CAC 40 was down .7% to 2,070
Data from Reuters and MarketWatch.
Douglas A. Mcintyre
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Today’s top tickerspy Indexes Home Furnishing R... +14.1% Ethanol and Biofu... +5.1% Electronics Retai... +2.1% Diabetes Stocks +2.0% Memory Chip Stock... +2.0% 
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- New CEO Ludlam Appointed To Australian Ship Builder ASC - Min
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- paidContent - AOL's New Branding Trades Iconic Running Man For Goldfish
- paidContent - Microsoft Offers To Pay News Publishers To Pull Content From Google
- paidContent - Industry Moves Round-Up: Atlantic Media; Tribal Fusion; Viewpoints Network; Meredith 360°
- paidContent - Jason Goldberg Leaving Xing After A Year; New Startup & Investments
- paidContent - ESPN.com's Bill Simmons Gets A Twitter Time Out, Sort Of
- paidContent - Nielsen Biz Selling Print, Online But Not Until December; Lachlan Murdoch Considering Investing
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©2009 24/7 Wall St.
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