We're quickly transitioning from a battle to see which company will get an all-oral hepatitis C treatment approved to one in which the length of treatment will likely dictate which company wins the war.
Gilead Sciences (NASDAQ: GILD ) fired off a solid warning shot over AbbVie's (NYSE: ABBV ) bow on Thursday. The biotech released phase 2 data today, demonstrating that a combination of sofosbuvir and ledipasvir works extremely well, perhaps even better, when a third generic drug ribovarin is added.
Eight weeks after treatment, all 21 patients taking the three-drug regimen for just eight weeks had undetectable virus levels in their system. When just sofosbuvir and ledipasvir were given for eight weeks, 19 of 20 patients appear to be cured. The results look even better -- 19 out of 19 -- when the two-drug combination was given for 12 weeks, although the results measured the presence of virus just four weeks after treatment, so they could change if patients relapse.
Best Financial Stocks For 2015: First Commonwealth Financial Corporation(FCF)
First Commonwealth Financial Corporation operates as the holding company for First Commonwealth Bank that provides consumer and commercial banking services to individuals and small and mid-sized businesses in central and western Pennsylvania. The company offers personal checking accounts, interest-earning checking accounts, savings accounts, health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, and IRA accounts. It also provides secured and unsecured installment loans, construction and mortgage loans, safe deposit facilities, credit lines with overdraft checking protection, and student loans, as well as Internet and telephone banking, and automated teller machine services. In addition, the company offers commercial banking services, including commercial lending, small and high-volume business checking accounts, on-line account management services, ACH origination, payroll direct deposi t, commercial cash management services, and repurchase agreements. Further, it provides various trust and asset management services, as well as a complement of auto, home, business, and term life insurance. Additionally, the company offers annuities, mutual funds, stock, and bond brokerage services through an arrangement with a broker-dealer and insurance brokers. It operates 115 community banking offices in western Pennsylvania and 2 loan production offices in downtown Pittsburgh and State College, Pennsylvania. The company was founded in 1982 and is headquartered in Indiana, Pennsylvania.
Advisors' Opinion:- [By Fede Zaldua]
Overall, the company is trying to resist European volume trends while successfully putting in practice its pricing power. Even when market-trends flow against Imperial's top-line, the company should be able to grow its Free Cash Flow (FCF) per share once again in 2013 -its 2013 FCF yield should be as high as 9%. Some businesses are simple great. They deliver growing cash yields to its owners even when conditions are tough.
- [By Fast Weekly]
Okay, good, so Unilever has been able to consistently grow its revenue per share over the past seven or eight years. Other than a couple of large spikes in the late 1990s and early 2000s the revenue per share has been growing steadily since at least the mid 1990s. Thinking back to similar U.S.-based companies I've recently reviewed, Unilever's revenue growth rate seems to be slower than their U.S. rivals, which may help explain Unilever's lower valuation than some of the U.S.-based rivals. Now let's take a closer look at the earnings-per-share (EPS) and free-cash-flow per share (FCF) growth.
- [By Ray Merola]
Global recession notwithstanding, International Paper has re-imagined itself as a strong cash generator. I focus upon Free-Cash-Flow (FCF), thereby subtracting routine capital expenditures from Operating Cash. What remains is what Warren Buffett refers to as "Owner Earnings," or what is left over after a company has handled all aspects of running and maintaining its business.
Top 10 Consumer Service Companies To Invest In 2014: Royal Dutch Shell PLC (RDSB)
Royal Dutch Shell plc (Shell), incorporated on February 5, 2002, is an independent oil and gas company. The Company owns, directly or indirectly, investments in the numerous companies constituting Shell. Shell is engaged worldwide in the principal aspects of the oil and gas industry and also has interests in chemicals and other energy-related businesses. The Company operates in three segments: Upstream, Downstream and Corporate. Upstream combines the operating segments Upstream International and Upstream Americas, which are engaged in searching for and recovering crude oil and natural gas; the liquefaction and transportation of gas; the extraction of bitumen from oil sands that is converted into synthetic crude oil, and wind energy. Downstream is engaged in manufacturing; distribution and marketing activities for oil products and chemicals, in alternative energy (excluding wind), and carbon dioxide (CO2) management. Corporate represents the key support functions, comprising holdings and treasury, headquarters, central functions and Shell�� self-insurance activities. In October 2011, the Company bought a marine terminal on Canada's Pacific Coast as a possible site for a liquefied natural gas export terminal. In January 2012, the Company's 50% owned, Australia Arrow Energy Holdings Pty Ltd acquired all of the shares in Bow Energy Ltd. In January 2014, Royal Dutch Shell plc completed the acquisition of Repsol S.A.'s liquefied natural gas (LNG) portfolio outside North America.
Upstream International manages the Upstream businesses outside the Americas. It searches for and recovers crude oil and natural gas, liquefies and transports gas, and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream International also manages Shell�� entire liquefied petroleum gas (LNG) business, gas to liquids (GTL) and the wind business in Europe. Its activities are organized primarily within geographical units, although there are some activities that are mana! ged across the businesses or provided through support units.
Upstream Americas manages the Upstream businesses in North and South America. It searches for and recovers crude oil and natural gas, transports gas and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream Americas also extracts bitumen from oil sands that is converted into synthetic crude oil. Additionally, it manages the United States-based wind business. It comprises operations organized into business-wide managed activities and supporting activities.
Downstream manages Shell�� manufacturing, distribution and marketing activities for oil products and chemicals. These activities are organized into globally managed classes of business, although some are managed regionally or provided through support units. Manufacturing and supply includes refining, supply and shipping of crude oil. Marketing sells a range of products including fuels, lubricants, bitumen and liquefied petroleum gas (LPG) for home, transport and industrial use. Chemicals produces and markets petrochemicals for industrial customers, including the raw materials for plastics, coatings and detergents. Downstream also trades Shell�� flow of hydrocarbons and other energy-related products, supplies the Downstream businesses, markets gas and power and provides shipping services. Downstream additionally oversees Shell�� interests in alternative energy (including biofuels, and excluding wind) and CO2 management.
Projects and Technology manages the delivery of Shell�� major projects and drives the research and innovation to create technology solutions. It provides technical services and technology capability covering both Upstream and Downstream activities. It is also responsible for providing functional leadership across Shell in the areas of health, safety and environment, and contracting and procurement.
Advisors' Opinion:- [By Jim Jubak]
But, to my mind, the biggest news of last week for the valuation of Cheniere actually came from Royal Dutch Shell (RDSB). Europe's biggest oil company announced that it would halt plans to build a $20 billion natural gas of liquids plant in Louisiana, even though the state of Louisiana had agreed on $112 million in subsidies. The project would have used cheap US natural gas to produce 140,000 barrels a day of liquid fuels normally made from oil. Royal Dutch Shell cited rising costs and uncertainty about oil and natural gas prices by the time the plant entered operation, in canceling the project.
Top 10 Consumer Service Companies To Invest In 2014: West Pharmaceutical Services Inc.(WST)
West Pharmaceutical Services, Inc. manufactures and sells components and systems for injectable drug delivery and plastic packaging, and delivery system components for the pharmaceutical, healthcare, and consumer products industries. The company?s Packaging Systems segment provides packaging components and systems used in injectable drug delivery. This segment offers elastomeric stoppers and discs, elastomeric plungers, needle shields, tip caps, aluminum seals and removable plastic buttons, elastomeric components, flashback bulbs and sleeve stoppers, elastomer and co-molded elastomer/plastic components, non-filled syringe components, and dropper bulbs, as well as pharmaceutical containers, closures, and dispensers. This segment also provides laboratory and other services comprising extractables and leachables testing, package/container testing, method development/validation, stability testing, process development, and problem resolution. Its Delivery Systems segment offer s healthcare devices, such as ready-to-use prefilled syringe systems and sterile vials. This segment also offers sterile devices and electronic patch injector systems; passive safety needle systems, disposable auto-injector systems, and safety systems for prefilled syringes; and contract manufacturing services for personal care and consumer products, including infant nurser assemblies, closures for beverage containers, and child-resistant and tamper-evident closures and dispensers. In addition, this segment engages in contract manufacturing and assembling injection molded components and devices for surgical, ophthalmic, diagnostic, and drug delivery systems. The company distributes its products through its sales force and distribution network, as well as through contract sales agents and regional distributors in the United States, Germany, France, and other European countries. West Pharmaceutical Services, Inc. was founded in 1923 and is headquartered in Lionville, Pennsylva nia.
Advisors' Opinion:- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on West Pharmaceutical Services (NYSE: WST ) , whose recent revenue and earnings are plotted below.
Top 10 Consumer Service Companies To Invest In 2014: iShares 7-10 Year Treasury Bond ETF (IEF)
iShares Lehman 7-10 Year Treasury Bond Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the intermediate-term sector of the United States Treasury market as defined by the Lehman Brothers 7-10 Year U.S. Treasury Index (the Index). The Index includes all publicly issued, United States Treasury securities that have a remaining maturity of between 7 and 10 years, are non-convertible, are denominated in United States dollars, are rated Baa3 by Moody�� Investors Service or BBB- by S&P, are fixed rate, and have more than $250 million par outstanding. Excluded from the Index are certain special issues, such as flower bonds, targeted investor notes (TINs), and state and local government bonds, and coupon issues that have been stripped from assets that are already included in the Index.
The Index is a market capitalization-weighted index. The Fund invests in a representative sample of the securities in the Index, which has a similar investment profile as the Index. The Fund�� investment advisor is Barclays Global Fund Advisor.
Advisors' Opinion:- [By John Dowdee]
For comparison with bonds and equities, I also included the following ETFs in the analysis:
iShares Barclays 7 to 10 Year Treasury Bond (IEF). This ETF tracks the performance of intermediate-term treasury bonds and yields 1.7%. iShares Barclays 20+ Year Treasury Bond (TLT). This ETF tracks the performance of long-term treasury bonds and yields 2.9%. iShares iBoxx $ High Yield Corporate Bonds (HYG). This ETF tracks the performance of high yield corporate bonds. It yields 6.4%. SPDR S&P 500 (SPY). This ETF tracks the performance of the S&P 500 equity index and yields 2%.To analyze the risks and return of floating rate CEFs, I used the Smartfolio 3 program (smartfolio.com), using data over the past 6 years. The results are shown in Figure 1, which plots the rate of return in excess of the risk free rate of return (called Excess Mu on the charts) against the historical volatility.
Top 10 Consumer Service Companies To Invest In 2014: Aon Corporation(AON)
Aon Corporation provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services primarily in the United States, the Americas, the United Kingdom, Europe, the Middle East, Africa, and the Asia Pacific. The company?s Risk Solutions segment offers retail brokerage products and services, including affinity products, general underwriting management services, placement services, and captive management services; and advisory services to technology, financial services, agribusiness, aviation, construction, health care, and energy industries, as well as facilitates various risk management solutions for property liability, general liability, professional liability, directors' and officers' liability, workers' compensation, and various healthcare products. This segment also provides risk consulting services comprising captive management; eSolutions products that enable clients to manage risks, policies, claims, and safet y concerns through an integrated technology platform; reinsurance brokerage services, such as actuarial, enterprise risk management, catastrophe management, and rating agency advisory services; property and casualty reinsurance; and specialty lines, which include professional liability, medical malpractice, accident, life, and health, as well as capital management transaction and advisory services. Its HR Solutions segment offers human capital services in the areas of health and benefits, retirement, compensation, and strategic human capital; and benefits administration and human resource business process outsourcing services. The company was founded in 1919 and is headquartered in Chicago, Illinois.
Advisors' Opinion:- [By Reuters]
Wendy Maeda/The Boston Globe via Getty Images NEW YORK -- Walgreen is moving 120,000 employees to a private health insurance exchange from coverage provided directly from carriers, the company will announce Wednesday. The pharmacy chain will join 17 other large employers on the Aon Hewitt Corporate Health Exchange as part of a growing movement to offer employees fixed dollar amounts to purchase their own plans on such exchanges. The end-cost to employees depends on the plan chosen, but they typically get more options than under traditional arrangements. Private exchanges mimic the coverage mandated as part of the Affordable Care Act. Enrollment in the public exchanges starts Oct. 1. "What happens to employer contributions over time? Will they put in as much as they put in the past? These are unanswered questions but potential negatives," says Paul Fronstin, a senior research associate with the Employee Benefit Research Institute. The benefit to Walgreen and other employers is unknown at this point, as their cost-savings aren't clear. Of the 180,000 Walgreen (WAG) employees eligible for health care insurance, 120,000 opted for coverage for themselves and 40,000 family members. Another 60,000 employees, many of them working part-time, weren't eligible for health insurance. Aon Hewitt (AON) says other participants in its program include retailer Sears Holding (SHLD) and Darden Restaurants (DRI). These new additions raise enrollment to 330,000 from 100,000 last year, and Aon Hewitt estimates enrollment will jump to 600,000 next year, a fivefold increase from 2012. By 2017, nearly 20 percent of employees nationwide could get their health insurance through a private exchange, according to Accenture Research (ACN). A recent report by the National Business Group on Health said that 30 percent of large employers are considering moving active employees to exchanges by 2015. Other major providers of private exchanges include Mercer, a division of Marsh & Mc
- [By Rich Duprey]
Risk manager�Aon� (NYSE: AON ) announced yesterday its third-quarter dividend of $0.175 per share, the same rate it paid last quarter after raising the payout 11%, from $0.1575 per share.
- [By Holly LaFon]
Company Dell Inc. (DELL) Chesapeake Energy (CHK) DirecTV (DTV) Loews (L) Walt Disney (DIS) Aon Plc (AON) The Travelers Companies (TRV) Level 3 Communications (LVLT) FedEx (FDX) Bank of New York Mellon (BK)
Learn more about Mason and his views on the present economy in his second-quarter letter here. See his portfolio here.
Top 10 Consumer Service Companies To Invest In 2014: American Midstream Partners LP (AMID)
American Midstream Partners, LP, incorporated on August 20, 2009, owns, operates, develops and acquires a portfolio of natural gas midstream energy assets. The Company is engaged in the business of gathering, treating, processing and transporting natural gas through its ownership and operation of 10 gathering systems, four processing facilities and a 50% non-operating interest in a fifth plant, two interstate pipelines and four intrastate pipelines. Its assets are located in Alabama, Louisiana, Mississippi, Tennessee and Texas, provide infrastructure, which links producers and suppliers of natural gas to diverse natural gas markets, including interstate and intrastate pipelines, as well as utility, industrial and other commercial customers. In December 2013, American Midstream Partners, LP acquired Blackwater Midstream Holdings, LLC from an affiliate of ArcLight Capital Partners, LLC. In February 2014, Penn Virginia Corporation sold all of its Eagle Ford Shale natural gas midstream assets to the Company.
The Company operates in two segments: Gathering and Processing, and Transmission. In its gathering and processing segment, it receives fee-based and fixed-margin compensation for gathering, transporting and treating natural gas. Where it provide processing services at the plants that it owns, or obtain processing services for its own account under its elective processing arrangements. During the year ended December 31, 2012, it owned four processing facilities that produced an average of approximately 49.9 million gallons of liquid per day of gross natural gas liquids (NGLs). In addition, under its elective processing arrangements, it contracts for processing capacity at a third-party plant where it has the option to process natural gas that it purchases. During 2012, under these arrangements, it sold an average of approximately 27.9 million gallons of liquid per day of net equity NGL volumes. It also receives fee-based and fixed-margin compensation in its transmission segment related to ! capacity reservation charges under its firm transportation contracts and the transportation of natural gas.
Gathering and Processing
The Company�� gathering and processing segment provides wellhead to market services for natural gas to producers of natural gas and oil, which include transporting raw natural gas from various receipt points through gathering systems, treating the raw natural gas, processing raw natural gas to separate the NGLs and selling or delivering pipeline quality natural gas, as well as NGLs to various markets and pipeline systems. It gathers and processes natural gas pursuant to arrangements, including fee-based arrangements, fixed-margin arrangements and percent-of-proceeds arrangements.
The Company competes with Tennessee Gas Pipeline (TGP), Gulf South and ANR.
Transmission Segment
The Company�� transmission segment transports and delivers natural gas from producing wells, receipt points or pipeline interconnects for shippers and other customers, which include local distribution companies (LDCs), utilities and industrial, commercial and power generation customers. Results of operations from its transmission segment are determined by capacity reservation fees from firm transportation contracts and the volumes of natural gas transported on the interstate and intrastate pipelines it owns. Its transportation arrangements include firm transportation arrangements, interruptible transportation and fixed-margin contracts. Its Midla and AlaTenn systems are interstate natural gas pipelines. Its Bamagas system is a Hinshaw intrastate natural gas pipeline, which travels west to east from an interconnection point with TGP in Colbert County, Alabama to two power plants owned by Calpine Corporation (Calpine), in Morgan County, Alabama. The Bamagas system consists of 52 miles of high pressure, 30-inch pipeline with a design capacity of approximately 450 million cubic feet per day.
The AlaTenn system is an intersta! te natura! l gas pipeline that interconnects with TGP and travels west to east delivering natural gas to industrial customers in northwestern Alabama, as well as the city gates of Decatur and Huntsville, Alabama. Its AlaTenn system has a design capacity of approximately 200 million gallons of liquid per day and is consisted of approximately 295 miles of pipeline with diameters ranging from three to 16 inches and includes two compressor stations with combined capacity of 3,665 horsepower. The AlaTenn system is connected to four receipt and 61 delivery points, including the Tetco Pipeline system, an interstate pipeline owned by Duke Energy Corporation, and the Columbia Gulf Pipeline system, an interstate pipeline owned by NiSource Gas Transmission and Storage.
The Company�� Midla system is an interstate natural gas pipeline with approximately 370 miles of pipeline linking the Monroe Natural Gas Field in Northern Louisiana and interconnections with the Transco Pipeline system and Gulf South Pipeline system to customers near Baton Rouge, Louisiana. Its Midla system also has interconnects to Centerpoint, TGP and Sonat along a high-pressure lateral at the north end of the system, called the T-32 lateral. Its Midla system is located near the Perryville Hub, which is a hub for natural gas produced in the Louisiana and broader Gulf Coast region, including natural gas from the Haynesville shale, Barnett shale, Fayetteville shale, Woodford shale and Deep Bossier formations of Northern Louisiana, Central Texas, Northern Arkansas, Eastern Oklahoma and East Texas, respectively. The Midla system is connected to nine receipt and 19 delivery points. The northern portion of the system, including the T-32 lateral, consists of approximately four miles of high pressure, 12-inch diameter pipeline. Natural gas on the northern end of the Midla system is delivered to two power plants operated by Entergy by way of the T-32 lateral and the CLECO Sterlington plant by way of the Sterlington lateral.
The Company�� s mainlin! e of the system has a design capacity of approximately 198 million cubic feet per day and consists of approximately 172 miles of low pressure, 22-inch diameter pipeline with laterals ranging in diameter from two to 16 inches. During 2012, average throughput on the Midla mainline was approximately 72.7 million cubic feet per day. The southern portion of the system, including interconnections with the MLGT system and other associated laterals, consists of approximately two miles of high and low pressure, 12-inch diameter pipeline. This section of the system primarily serves industrial and LDC customers in the Baton Rouge market. In addition, this section includes two small offshore gathering lines, the T-33 lateral in Grand Bay and the T-51 lateral in Eugene Island 28, each of which are approximately five miles in length. Natural gas delivered on the southern end of the system is sold under both firm and interruptible transportation contracts with average remaining terms of two years.
The MLGT system is an intrastate transmission system that sources natural gas from interconnects with the FGT Pipeline system, an interstate pipeline owned by Florida Gas Transmission Company, the Tetco Pipeline system, the Transco Pipeline system and its Midla system to a Baton Rouge, Louisiana refinery owned and operated by ExxonMobil and five other industrial customers. Its million cubic feet per day system has a design capacity of approximately 170 million cubic feet per day and is consisted of approximately 54 miles of pipeline with diameters ranging from three to 14 inches. The MLGT system is connected to seven receipt and 16 delivery points. During 2010, average throughput on the MLGT system was approximately 50.5 million cubic feet per day.
The Company�� other transmission systems include the Chalmette system, located in St. Bernard Parish, Louisiana, and the Trigas system, located in three counties in northwestern Alabama. The approximate design capacities for the Chalmette and Trigas sys! tems are ! 125 million cubic feet per day and 60 million cubic feet per day, respectively. During 2012, the approximate average throughput for these systems was 9.8 MMcf/d and 10.6 MMcf/d. It also owns a range of interconnects and small laterals that are referred to as the SIGCO assets.
The Company competes with Southern Natural Gas Company and Louisiana Intrastate Gas.
Advisors' Opinion:- [By Monica Gerson]
American Midstream Partners LP (NYSE: AMID) is estimated to post a Q4 loss at $0.30 per share on revenue of $89.74 million.
Hill International (NYSE: HIL) is expected to post its Q4 earnings at $0.01 per share on revenue of $134.74 million.
- [By Robert Rapier]
American Midstream Partners (NYSE: AMID) gained 96 percent in 2013 before accounting for distributions. American Midstream is engaged in the business of gathering, treating, processing, fractionating and transporting natural gas and natural gas liquids. Operations are organized into two segments, Gathering and Processing and Transmission. Assets are primarily located in Alabama, Louisiana, Mississippi, Tennessee and Texas. The partnership operates 2,100 miles of pipelines that gather and transport over 850 MMcf/d of natural gas. Units currently yield 6.8 percent.
Top 10 Consumer Service Companies To Invest In 2014: Ishares Msci Italy Index Fund (EWI)
iShares MSCI Italy Index Fund (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of publicly traded securities in the aggregate in the Italian market, as measured by the MSCI Italy Index (the Index). The Index seeks to measure the performance of the Italian equity market. The Index is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization. Component companies are adjusted for available float and must meet objective criteria for inclusion in the Index. The Index is reviewed quarterly.
The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. The Fund�� investment advisor is Barclays Global Fund Advisors.
Advisors' Opinion:- [By Dan Caplinger and Mike Klesta]
In the following video, Fool markets analyst Mike Klesta talks with Fool contributor Dan Caplinger about three countries with particularly high unemployment rates. As Dan notes, even though the employment picture in Europe is ugly, one of these three countries has made some progress toward getting unemployment under control. Dan also weighs in with some investment ideas for those seeking to bet on a turnaround in Europe, with thoughts for both ETF investors and those who prefer individual stocks (NYSEMKT: EWI ) .
- [By Tom Aspray]
This is quite a bit better than the 9.2% gain of the iShares MSCI Italy (EWI) or the 8.9% rise in the iShares MSCI Austria (EWO). All three have done significantly better than the Spyder Trust (SPY), which is up 3.6%. The French and German country ETFs have not yet moved above their late 2013 highs.
- [By Dan Caplinger]
4. Italy
Some developed markets have also outperformed the Dow Jones Industrials. Italy's market is up 14%, and even the euro's weakness has given U.S. investors in iShares MSCI Italy (NYSEMKT: EWI ) a 12% gain. Europe has made progress toward emerging from recession, and Italy has recovered more than some of its economically healthier peers because of the close brush with sovereign-debt issues that cut confidence in the Mediterranean nation's stock market substantially. As long as the government can keep debt under control, Italy could keep outperforming the Dow.
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