Tag Archives: investor

Is a Red Dead Redemption Sequel Coming?

Take-Two has listed Red Dead Redemption among franchises it considers “permanent”, heavily implying a sequel to the game will one day materialise.

Speaking at last night’s investor call (via Videogamer), CEO Strauss Zelnick explained that the company didn’t see any of its franchises as one-shots, and that new instalments of a high quality were always encouraged.

“Our goal is to try to create permanent franchises,” he said. “That’s the unique goal in the industry.

“Our competitors do not see it that way. Our competitors’ view is that our franchise will have a certain life, and at the end of that life, you move onto the next thing, so you better make hay while the sun shines. Our view is to the contrary. The best franchises are permanent franchises.

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Source: FULL ARTICLE at IGN Video Games

The One Thing Successful People Don't Do (And 9 Famous Examples)

By David K. Williams, Contributor

In the months leading up to the launch of my book, The 7 Non-Negotiables of Winning, I’ve talked a lot about winning—but I’ve talked a lot about failing, too. Learning how to fail productively—to “Fail Up”—is one of the greatest secrets to full-on success. And in that vein, I was impressed with a recent article by business author Bernard Marr. He pointed out that there is one single thing that all “radically successful” people have in common: They have a ferocious drive and hunger for success that makes them never give up. There are many varieties of success. Jobs and careers are one area, but success in family life, personal relationships, community and church work, philanthropy and sports or treasured hobbies are important success priorities as well. One thing is certain: There is no clear and definitive path to success for anyone. The most successful people in any endeavor will tell you many stories of failure within their life journeys. Many (if not all) have experienced major failures, multiple times. But they never gave up. As I have said many times, the greatest secret to success is learning how to “Fail Up.” It would even be fair to say that failure is the driver that makes truly successful people even more hungry and determined to achieve their success. In his article, Marr presented a list of nine famous successful people whose failures helped to spur their success. I would like to share them with you, along with some of my own thoughts on each: 1.     Henry Ford stands tall as a pioneer of modern business, yet this founder of the Ford Motor Company failed many times on his route to success. His first business attempt at building a motor car was shuttered after just a year and a half when stockholders lost confidence in his ability to succeed. He gathered more cash and re-started his effort, but a year later was forced out of his own company yet again. The entire motor industry had lost faith in Henry Ford, but he was not deterred. He found another investor to start the Ford Motor Company, and the rest is history. …read more

Source: FULL ARTICLE at Forbes Latest

Cheap Gas, Low-Cost Solar Accelerate Disintermediation Of Electric Utilities

By William Pentland, Contributor

The following is an excerpt from a piece I wrote for the July issue of RMEL’s Electric Energy magazine: If you want to take the temperature of an industry as large as the utility industry, the U.S. Securities and Exchange Committee’s (SEC) online database of shareholder reports is a great place to start. Under federal securities laws, publicly traded companies, including the vast majority of investor-owned utilities, are required to file quarterly and annual shareholder reports with the SEC. The utility industry’s ambivalence about distributed generation (DG) is a case in point. “Distributed generation” is one of many terms commonly used to describe generation facilities located close to the load, including solar photovoltaics, microturbines and so forth. Unlike the typical traditional utility-scale power plants, DG is connected directly to the distribution network—or connected through the customer’s meter. Historically, the term DG—or any of the half-dozen or so similar terms used to describe generation facilities located close to the load—seldom surfaced in SEC filings, other than those filed by companies pursuing niche market applications like backup power for remotely sited cell towers. Indeed, until recently, nearly all investor-owned utilities remained silent on the subject of DG’s potential impact on electric utilities. That silence began to give way to conflicting perspectives on DG’s potential impact on the industry over the past two or three years. In some filings, DG is described as a potential source of future competition that could adversely affect utilities. In other filings, DG is described as an emerging growth opportunity for utilities. While DG will likely create both risks and opportunities, the former possibility is attracting more attention than the latter. And this tendency exists beyond the rarified world of SEC filings. By allowing customers to displace power from the grid with electricity produced on-site, utilities are expressing concerns about declining demand and lost investment opportunity in supply and energy services: The middleman may get cut out. The full story, “Disintermediation: The Good, Bad and Ugly of Natural Gas,” is available here. …read more

Source: FULL ARTICLE at Forbes Latest

Mikael Schiller on Acne's Unexpected Journey

By Business Of Fashion, Contributor

LONDON, United Kingdom — Alongside a thriving wholesale business that ships to 650 global accounts, severely cool Swedish apparel company Acne Studios has grown its network of directly owned and operated stores to a current total of 35 locations; the latest of which has just opened on London’s Pelham Street, in South Kensington. Though the company does have a minority investor that came on board in 2006 and owns 21 percent of the business, unlike many other labels at a similar stage of development, Acne’s retail expansion has been completely organic, financed exclusively through the cash flow generated by the business. …read more

Source: FULL ARTICLE at Forbes Latest

PIK Toggle High Yield Bond Issuance Soars As Market Heats Up

By Tim Cross, Contributor

There’s more evidence of a rebounding U.S. high yield bond market: PIK toggle deal volume has soared in July as issuers take advantage of an institutional investor market that once again has become accommodating in its search for yield. PIK toggle deals – which give the issuer the option of repaying the debt “in kind” (as opposed to cash) – have totaled roughly $2.85 billion so far in July, making it the busiest month for these deals since October 2012, and the second-busiest since the pre-Lehman days of September 2008. In fact, some of the July transactions have been the largest PIK toggle offerings since the leveraged finance boom of 2008, according to LCD’s Jon Hemingway. , for instance, last week priced an $800 million offering, part of which will fund a dividend to private equity sponsors Bain Capital and Blackstone Group. demand for the deal was such that it was increased from $700 million. The issue was rated CCC+/Caa1. Also last week, healthcare networks concern MultiPlan completed a $750 million PIK toggle deal, part of which backs a dividend to sponsors BC Partners and Silver Lake. The Multiplan issue also is rated CCC+/Caa1. And just today U.S. retailer Party City unveiled a $300 million PIK toggle offering backing a dividend to private equity sponsor Thomas H. Lee. The appeal of these deals to investors is obvious. The Michaels deal priced with a coupon of 7.5% (cash) or 8.25% (PIK), while MultiPlan priced with a coupon of 8.375% (cash) or 9.125% (PIK). Those figures are in contrast to the 6.79% average yield of U.S. senior unsecured high yield deals, as of July 25, according to S&P Capital IQ/LCD (that average yield is calculated on a rolling 30-day basis). Again, it’s worth noting that many of the PIK toggle deals being completed have relatively low ratings, which contributes to the relatively hefty yield. PIK toggle bonds came about during the rising-rate leveraged finance environment of 2004 and 2005. Their use peaked during the heady capital markets days of 2007 and 2008, before the financial market collapsed (you can read more about how PIK toggle bonds work here). So far in 2013 PIK Toggle issuance totals roughly $6 billion, compared to only $1.4 billion during the same period in 2012. PIK toggle issuance picked up during the second half of last year, to finish 2012 with $6.7 billion in volume. That’s the most since the $13.4 billion recorded during 2008. …read more

Source: FULL ARTICLE at Forbes Latest

SAC Capital CEO Steven Cohen Throws A Party Despite Indictment

By The Huffington Post News Editors

By Matthew Goldstein
July 28 (Reuters) – Hedge fund billionaire Steven A. Cohen did not let the filing of criminal charges against his $14 billion SAC Capital Advisors get in the way of a party this weekend at his vacation estate in tony East Hampton, New York.
The Saturday night party at Cohen’s 10-bedroom home on Further Lane took place two days after federal prosecutors in New York announced a five-count criminal indictment against SAC Capital that portrayed the 21-year-old Stamford, Conn.-based fund as a breeding ground for unlawful insider trading.
The lavish affair, which one source said included delivery of $2,000 worth of tuna from a local fish store to Cohen’s home, was planned before the charges were filed. A person familiar with the event said the party, attended by a few dozen people, was intended by the 57-year-old manager to show support for ovarian cancer research, though it was not a fundraiser.
On Friday, lawyers for SAC Capital entered a not guilty plea to the charges. Some in the hedge fund industry said a fierce determination to carry on business as usual was behind Cohen’s decision to go ahead with the bash at his 9,000-square-foot home on a street famed for its waterfront mansions.
Cohen, whose estimated fortune is $9 billion, set up shop in 1992 with just $25 million and earned a reputation as of the greatest stock traders of his generation. His firm has posted a 25 percent average annual return, one of the best performance track records in the $2.4 trillion hedge fund industry, despite charging investors some of the highest fees.
SAC Capital, after the indictment was announced, sent an email to employees and investors saying the firm would operate as normal. It stressed that prosecutors did not intend to take any action that would imperil the firm’s ability to return some $4 billion in outside investor money by year’s end.

RARE MOVE RAISES QUESTIONS …read more

Source: FULL ARTICLE at Huffington Post

Stock Futures Point Higher Ahead of Numerous Earnings Reports

By IBTimes

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By Sreeja VN

U.S. stock futures point to a higher open Wednesday, ahead of the publication of new home sales data and quarterly earnings statements from major American companies, including Facebook, Ford, PepsiCo, Qualcomm, Visa and Boeing.

Futures on the Dow Jones industrial average (^DJI) were up 0.2 percent, while futures on the Standard & Poor’s 500 index (^GSPC) were up 0.3 percent and those on the Nasdaq 100 Index were up 0.9 percent.

Investors are expected to focus on new home sales data for June, to be released by the Commerce Department, at 10 a.m. Eastern time. Analysts expect new home sales — the annualized number of new single-family homes that were sold during the previous month — may probably increase to 485,000 in June from 476,000 in the previous month.

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New home sales had recorded a better-than-expected gain in May, helped by a pick-up in demand, while existing home sales data for June, which was released Monday, showed a decline. Analysts attributed the fall to a recent hike in mortgage interest rates and believe new home sales could still increase in June.

“With the NAHB current sales index still rising strongly, we have penciled in an increase in new sales from 476,000 in May to 485,000,” Paul Diggle, an economist with Capital Economics, wrote in a research note.

On the earnings front, a number of major companies, including Caterpillar (CAT), Eli Lilly & Co. (LLY), EMC Corp. (EMC), US Airways Group, (LCC), Ford (F), PepsiCo (PEP) and Boeing (BA), will announce quarterly earnings before market hours. Visa (V), Western Digital (WDC), Qualcomm (QCOM) and Facebook (FB) are to announce their earnings after markets close Wednesday.

Markit Economics’ flash Purchasing Managers’ Index, or PMI, for the manufacturing sector in the month of July, is scheduled to be released at 9 a.m. Eastern time. The index, which measures the activity level of purchasing managers in the manufacturing sector, is expected to show a reading of 52.5 in July, up from the 51.9 recorded in June. A reading below 50 indicates contraction.

European markets were trading higher Wednesday, as investor sentiments were buoyed after flash PMIs for the euro zone’s manufacturing and services sectors beat expectations. The 17-nation eurozone’s manufacturing PMI for July came in at 50.1 compared to 48.8 in the previous month. The services PMI registered a reading of 49.6 compared to 48.3 in June.

Germany’s manufacturing PMI came in at 50.3 in July, up from 48.6 in June while the nation’s services PMI was at 52.5 in July, up from 50.4 in June. Meanwhile, in neighboring France, while the …read more

Source: FULL ARTICLE at DailyFinance

The Prudent Speculator's Market Commentary – July 23, 2013

By John Buckingham, Contributor

Happily, more and more folks are finally coming to the conclusion that money-market funds (aka “the mattress”) are not a great place for their investment dollars, while many are opening their second quarter brokerage statements to find that their heretofore safe fixed income assets have declined in value this year. And, in what would seem to be the usual investor response to recent performance trends, the latest fund-flow data from the Investment Company Institute (ICI) showed that a net $4.5 billion came into actively managed domestic equity funds in the week ended July 10, while a net $8.1 billion flowed out of actively managed bond funds. …read more

Source: FULL ARTICLE at Forbes Latest

Netflix Interrupts This Bore-cast With A Pretty Entertaining Earnings Call

By Mark Rogowsky, Contributor

Netflix may or may not be the future of television, but in a just world, its investor updates are definitely the future of shareholder communications. Why? Just days after Yahoo tried to bring some life to its quarterly earnings call with video cameras that ultimately added little, Netflix used streaming video, social media and minimal streaming to update one of Wall Street’s most tired rituals. If I were watching it on Netflix, I’d rate it **** (out of 5). …read more

Source: FULL ARTICLE at Forbes Latest

Biogen: It's Unlikely Patient Death Was Caused By Tecfidera

By Ed Silverman, Contributor

For a brief moment, there was significant investor anxiety that the ‘holy mother’ of all drug launches might burst like a balloon. A report that the new Tecfidera multiple sclerosis pill was possibly linked to a patient death sent shares downward amid speculation about whether the Biogen Idec drug may have a side effect problem that could thwart blockbuster sales estimates. …read more

Source: FULL ARTICLE at Forbes Latest

"Shark Tank": Entrepreneurial Brands Swim In One Every Day

By Simon Graj, Contributor Most of you have tuned into an episode or two of the reality TV series Shark Tank. For many, it’s the American dream in modern dress. How well can an entrepreneur “pitch” an idea to a group of hardened investor/tycoons? What will make them see the promise? What will make them bite? …read more

Source: FULL ARTICLE at Forbes Latest

Bids On Leveraged Loans Rebounding After June Swoon

By Steve Miller, Contributor

Secondary market bids on U.S. leveraged loans have gained in July amid a notable improvement in institutional investor sentiment, after sliding dramatically in June, according to S&P Capital IQ/LCD.  Indeed, the S&P/LSTA Leveraged Loan Index registered a 0.36% gain during the first 12 days of the month. That’s short of the 0.59% loss seen in June, of course, but the turnaround in market is clear. The loss in June was the loan market’s first month in the red since May 2012, by the way. …read more

Source: FULL ARTICLE at Forbes Latest

3 Beach Reads That Will Make You a Way Better Investor

By Michael Lewis

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For those who have had the pleasure of completing an undergraduate finance program, it is a mild surprise (to say the least) to find that the real world of finance and investing is quite different from the efficiency-laden lessons of academia.

While this is frustrating to those who paid the price in time an tuition, it should be encouraging to the average investor who has no formal education in the subject. The truth is, right now, retail stock pickers have the same tools and tricks available to them as the world’s most successful investors.

So, in the spirit of summertime leisure, here is a hot list of books for investors that will get you on par with the very best.

The Classic Text

To recommend “The Intelligent Investor” is by no means a novel idea (pun absolutely intended), but it is, by far, the greatest quick read on the subject of stock picking. Written by Warren Buffett‘s mentor, Benjamin Graham, “The Intelligent Investor” provides the mental lattice all investors would do well to cling to.

Sure, the book champions value investing, which is not the only way to invest, but it can help investors of all kinds — even those interested in the next big technology winner.

Graham spells out the difference between speculation and investing — a concept that is often cited but which few seem to truly espouse. The Columbia professor and investing guru uses the allegory of Mr. Market to describe the battiness of the public markets, and how you can use that to your advantage.

While academic finance touts Efficient Market Theory — the idea that securities are priced with near perfection at all times — Graham posits nearly the opposite: Stocks can fall out of favor for reasons that do little to reflect the intrinsic value of a company — creating a price rift. Graham, Buffett, and the majority of the world’s greatest stock pickers believe that stocks drift toward that intrinsic number over time. Their track records support the claim.

With clear explanations of concepts such as margin of safety and defensive investing, “The Intelligent Investor” should be No. 1 on every investor’s reading list.

The Everyman Investor’s Bible

Peter Lynch, vice chairman of Fidelity’s investment advisory and former manager of the Fidelity Magellan Fund — the strongest performer of its (and his) kind from 1977 to 1990 — is great at writing simple, actionable investment lessons.

“One Up on Wall Street” is the shining example on the subject of DIY investing.

Though “The Intelligent Investor” is itself a very readable, simple book, Lynch’s classic explains in plain language strategies you may already employ. For example, Lynch loves “buy what you know,” the art of walking down the street and observing which brands are moving fast and which stores have lines …read more

Source: FULL ARTICLE at DailyFinance

Microsoft Posts 8% Q4 Growth for Xbox, Phone Division

During its latest investor earnings report, Microsoft announced that its Entertainment and Devices Division produced modest year-over-year growth, resulting in an 8% boost in revenue to $1.92 billion despite selling 3% less consoles (1 million) during its fourth quarter.

Xbox Live picked up the sales slack for Microsoft. The service produced 20% more revenue (compared to Q4 2012) in what the software giant characterized as a “soft console market.”

During its earnings report, Microsoft also revealed that it lost $900 million on its struggling Surface RT tablet. Despite that, the company still posted $4.97 billion in earnings from $19.9 billion in revenue.

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Source: FULL ARTICLE at IGN Tech

SEC Sues Steven A. Cohen; Seeks Lifetime Bar From Managing Investor Funds

By Jordan Maglich, Contributor

The Securities and Exchange Commission (“SEC”) has announced the institution of administrative proceedings against Steven A. Cohen, the founder of SAC Capital Advisors (“SAC Capital”), alleging that he ignored various “red flags” that should have alerted him to insider trading by several employees.  The charges come just days before the expiration of a statute of limitations on the majority of the conduct alleged by authorities, including the realization of collective profits of nearly $300 million from a favorable trade involving pharmaceutical giants Wyeth and Elan Corporation in July 2008.  In a press release announcing the charges, the SEC indicated that it will be seeking an order prohibiting Mr. Cohen from overseeing investor funds – a potentially fatal blow to Cohen’s efforts to downplay concerns by SAC Capital investors. …read more

Source: FULL ARTICLE at Forbes Latest

Leveraged Loan Market Heats Up As Investors Regain Bullish Stance

By Tim Cross, Contributor

The U.S. leveraged loan market is rebounding, both in volume and investor tone, as aggressively structured transactions, downward flexes in proposed interest rates and covenant-lite loans return to the scene (though investors remain cautious on some transactions). As for the deals, activity for the week totaled roughly $10 billion, nearly matching the $11 billion seen last week. Both totals are up noticeably from the scant volume of the previous two weeks (one of which was holiday-shortened).  As telling as the numbers, however, is what’s happening to deals already in the loan syndications market. This week, no fewer than seven issuers tightened interest rates on deals currently under consideration by investors, according to LCD’s Chris Donnelly.  …read more

Source: FULL ARTICLE at Forbes Latest