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[ October 20, 2014 | Author: Admin | Views: 75690 | Weather: | Mood: normal]

PIMCO CEO Mohamed El-Erian said his firm is still holding short-term Treasuries in anticipation of lawmakers increasing the debt ceiling. Bloomberg Finance chiefs from nations holding more than $1.3 trillion of Treasuries signaled no plans to sell even as the U.S. faced condemnation for the fiscal fight plaguing the world’s largest economy. Policy makers from Japan, India, Russia and Saudi Arabia expressed faith in the ability of the U.S. to pay its bills as the potential for default dominated the annual meetings of the International Monetary Fund and World Bank, which ended yesterday in Washington. “There’s no other way than for the U.S. government itself and the U.S. Congress to sort it out,” Japanese Finance Minister Taro Aso told Bloomberg Television’s Sara Eisen. Fahad Almubarak, chief of Saudi Arabia’s central bank, told reporters that “the U.S. current crisis will go away and we think its effect won’t be lasting on … Continue reading

[ October 20, 2014 | Author: Admin | Views: 91900 | Weather: | Mood: normal]

Sen. Lisa Murkowski (R-Alaska) says she plans to introduce legislation tomorrow that would allow renewable-energy companies to register as master limited partnerships, or MLPs. Laying out her energy agenda for the coming years, the ranking member of the Senate Committee on Energy and Natural Resources made the announcement as the keynote speaker today at “The Future of Energy 2013 Summit,” sponsored by Bloomberg New Energy Finance. The MLP Parity Act would extend to the renewable space a privilege that until now has been limited to oil and gas companies. MLP eligibility would allow renewable-energy and energy-efficiency companies to reap the benefits of single taxation on earned profits. Murkowski said she believes there is not only bipartisan but also bicameral support for the legislation. An MLP is a business structure that allows companies to raise capital like a corporation but pay taxes like a partnership. The senator said her other priorities … Continue reading

[ October 20, 2014 | Author: Admin | Views: 33096 | Weather: | Mood: normal]

Sherwin Williams (SHW), Zacks Rank #5 (Strong Sell), is a manufacturer and distributor of paints and coating products. Given that conventional wisdom favors growth in the housing sector, it feels awkward painting a negative outlook for Sherwin Williams. However, the company is richly valued and seeing its earnings estimates cut. The combination could leave your portfolio colored red instead of black. Valuation is stretched: The trade is extremely optimistic toward Sherwin Williams based on the forward earnings outlook, and as a result the bar for exceeding earnings estimates may be high. The stock is priced at about 19.5 times forward 12 month earnings. This compares to a 10 year average of 14.8 and minimum and maximum values of 10.2 and 22.3 respectively. The stock is less expensive based on its PEG ratio (price to earnings ratio to earnings growth) of 1.33, which is near average. However, no one wants average … Continue reading

[ October 20, 2014 | Author: Admin | Views: 58389 | Weather: | Mood: normal]

Bloomberg News Merrill Lynch Pierce Fenner & Smith Inc. turns 100 today. At least, it would have, if it were a standalone entity, and not a government-rescued Too Big to Fail entity, forced into a shotgun wedding with Bank of America. I have a warm place in my heart for the firm once referred to as “Mother Merrill.” As a young trader, I interviewed for an entry-level position. Right there on the main trading floor, a cavernous affair the size of several football fields in the downtown office. It was unlike any place I had ever been in before. I had plenty of friends who worked on desks there, and eventually came to know many folks in the research department. There was a sense of camaraderie at Merrill, a real feeling that everyone was rowing in unison. In my experience, it was a unique place, with a sense of passion … Continue reading

[ October 20, 2014 | Author: Admin | Views: 52138 | Weather: | Mood: normal]

Vivendi SA (0.4%) (VIV) (VIV – $24.47 – NYSE) is a French media and telecommunications holding company in the late stages of a decade long transition. In April 2014, the company announced it had reached an agreement to sell its French wireless operation, SFR, to French cable operator Numericable. Over the last year, the company also sold most of its 62% stake in Activision Blizzard and reached an agreement to sell its entire 53% stake in Maroc Telecom SA. After closing the SFR sale in early 2015, Vivendi will be a more focused media firm, consisting of Canal+ (a Francophone focused pay television network owner and distributor), Universal Music Group (UMG), the number one recording music company and number two music publishing entity in the world, and GVT, a fast growing Brazilian broadband and pay television provider. We expect GVT to eventually be sold and would not dismiss the possibility … Continue reading