On the last Wednesday of every month, except December, I host a web-based chat with subscribers to Australian Edge, Canadian Edge and Utility Forecaster.
What follows is an edited version of the transcript of the questions asked by readers and my responses to them.
The January chat took place amid the first serious pullback for equities in many months and as the Australian and Canadian dollars continued to face downward pressures.
Meanwhile, US utilities have held up during this selloff, upholding their traditionally defensive character.
Fourth-quarter and full-year 2014 earnings reporting season is well underway in North America, with fair to middling results for the broader market but solid performance–supportive of current dividend rates and even a few increases–for the UF universe.
So, in short, there was a lot to talk about.
A couple notes on the format of the chat: It’s a live but text-only chat. Subscribers type in questions and I review them. I prepare an answer, and then I publish your question followed shortly by my response.
Top Defensive Companies For 2015: Daily Mail and General Trust PLC (DMGT)
Daily Mail and General Trust PLC (DMGT) is a United kingdom-based multi-media and information company. The Company�� business activities are split into seven operating segments: RMS, business information, events, Euromoney, national media, local media and radio. Its dmg information is a business information division, providing business to business (B2B) information to the property, financial, energy and educational recruitment markets. As of October 2, 2011, dmg events, its business-to-business (B2B) exhibition and conferences division, operated 27 exhibitions and two conference businesses. Euromoney Institutional Investor PLC is a B2B media group. Associated Newspapers is its newspaper division. In September 2012, it sold its remaining 50% interest in DMG Radio Australia to Illyria. In July 2013, Daily Mail and General Trust PLC announced that Rothermere Continuation Limited has a holding 89.2% of interest of the Company. Advisors' Opinion:- [By Inyoung Hwang]
Daily Mail & General Trust Plc (DMGT) climbed 2.4 percent to 861 pence. The company said contribution from national newspapers to the group�� revenue dropped to 36 percent this year from 43 percent in 2012 and will fall further. The publisher of Britain�� second-biggest U.K. daily newspaper forecast full-year revenue will be 1.8 billion pounds, matching analysts�� estimates.
Top Defensive Companies For 2015: Luxottica Group SpA (LUX)
Luxottica Group S.p.A. (Luxottica), incorporated in 1961, is an Italy-based company engaged in the design, manufacture and distribution of prescription frames and sunglasses in the mid-and premium-price categories. It operates in two segments: manufacturing and wholesale distribution and retail distribution. Through its manufacturing and wholesale distribution segment, it is engaged in the design, manufacture, wholesale distribution and marketing of house and designer lines of mid-to premium-priced prescription frames and sunglasses. The Company operates its retail segment principally through its retail brands, which include, among others, LensCrafters, Pearle Vision, Sears Optical, Target Optical and its Licensed Brands (Sears Optical and Target Optical), as well as through the retail brands of its business, Oakley, which include, among others, Oakley O Stores and Vaults, David Clulow e nel segmento Licensed Brand. Among its subsidiaries there are: Air Sun, Bazooka Inc, David Clulow Brighton Ltd and Ecotop Pty Ltd.
In May 2010, the Company acquired a 35.16% interest held by minority stockholders in Luxottica Gozluk Endustri ve Ticaret Anonim Sirketi, (Luxottica Turkey). On July 30, 2010, Luxottica acquired a 34% interest held by minority stockholders in Sunglass Hut (UK) Limited. On November 26, 2010, it acquired the Optifashion Australia Pty Limited group from HAL Optical Investments B.V. The acquisition included 47 corporate stores (40 optical and seven sun) and nine franchises, trading under brands including Just Spectacles. During the year ended December 31, 2010, the Company completed the acquisition of the David Clulow chain, bringing its ownership in the subsidiary to 100%. Luxottica�� house brands include Ray-Ban, Oakley, Arnette, Persol, REVO, Vogue, Oliver Peoples, K&L, Luxottica, Mosley Tribes, Sferoflex and Eye Safety Systems (ESS). Its licensed designer brands include Anne Klein, Brooks Brothers, Bvlgari, Burberry, Chanel, Dolce & Gabbana, D&G, Donna Karan, DKNY, Fox, Miu ! Miu, Paul Smith, Polo Ralph Lauren, Prada, Salvatore Ferragamo, Stella McCartney, Tiffany & Co, Tory Burch and Versace. Polo Ralph Lauren includes Chaps, Polo, Ralph and Ralph Lauren Purple Label. Product design, development and manufacturing takes place in six production facilities in Italy, two wholly owned factories in China and two sports sunglasses production facilities in the United States. Luxottica also has a small plant in India serving the local market.
During 2010, the Company produced approximately 56.6 million units. In North America, the Company operates the points of sale for its Licensed Brands, with over 1,140 stores under the Sears Optical and Target Optical brands. During 2010, it distributed approximately 20.4 million prescription frames and approximately 38.4 million sunglasses, in approximately 5,900 different styles. During 2010, it announced the signing of a license agreement with Coach, Inc. (Coach) for the design, manufacturing and global distribution of sun and prescription eyewear under the Coach, Coach Poppy and Reed Krakoff brands. Essilor S.A. (Essilor) is the supplier of the Company�� retail operations.
Luxottica�� distribution system is globally integrated and supplied by a centralized manufacturing programming platform. The network linking the logistics and sales centers to the production facilities in Italy and China also provides daily monitoring of global sales performance and inventory levels so that manufacturing resources can be programmed and warehouse stocks re-allocated to meet local market demand. This integrated system serves both the retail and wholesale businesses with 18 distribution centers worldwide, of which eight are in the Americas, seven are in the Asia-Pacific region and three are in the rest of the world. It has three main distribution centers (hubs) in locations serving its markets: Sedico in Europe, Atlanta in the Americas and Dongguan in the Asia-Pacific region. They operate as centralized facilities, offering custo! mers a au! tomated order management system. During 2010, it managed over 13,500 orders per day, including eyeglasses and spare parts. Sedico ships over 170,000 units daily to customers in Europe, the Middle East and Africa and to its distribution centers in the rest of the world, from which they are then shipped to local customers.
Wholesale Distribution
The Company�� wholesale distribution network, covering 130 countries across five continents, has 18 logistics centers and 42 commercial subsidiaries providing direct operations in key markets. Luxottica also distributes certain brands, including Oakley, to sporting goods stores and specialty sports stores, including bike, surf, snow, skate, golf and motor sports stores.
Retail Distribution
The retail portfolio offers a range of differentiation points for consumers, including the latest in designer and sun frames, lens options, eye care and everyday vision care health benefits. As of March 31, 2011, the Company�� retail business consisted of 5,911 corporate stores and 514 franchised or licensed locations. In its retail sun business, Luxottica operates over 2,480 retail locations in North America, Asia-Pacific, South Africa, Europe and the Middle East, mainly through the Sunglass Hut brand. Luxottica�� retail stores sells not only prescription frames and sunglasses that it manufactures but also a range of prescription frames, lenses and other ophthalmic products manufactured by other companies. During 2010, units manufactured with its brand names or its licensed brands represented approximately 80.2% of the total sales of frames based on units sold by the retail division.
Luxottica�� optical retail operations are anchored by brands, such as LensCrafters and Pearle Vision in North America, and OPSM, Laubman & Pank and Budget Eyewear, which are available in Australia and New Zealand. It also has a retail presence in China, where the Company operates in the eyewear market with LensCrafters. As of ! March 31,! 2011, the Company�� optical retail business consisted of approximately 3,650 retail locations globally. As of March 31, 2011, it operated a retail network of 1,191 LensCrafters stores, of which 989 are in North America and 202 stores are in China and Hong Kong. LensCrafters stores offer a range of selection of prescription frames and sunglasses, mostly made by Luxottica, in addition to a range of lenses and optical products made by other suppliers. LensCrafters' products include lenses, such as FeatherWates (lightweight, thin and impact-resistant lenses), DURALENS (super scratch-resistant lenses), Advanced View Progressive (free-form, digitally surfaced progressive lenses), Invisibles (anti-reflective lenses) and MVP Maximum View Progressives (multi-focal lenses without visible lines).
Pearle Vision is a optical retail chain in North America. As of March 31, 2011, Pearle Vision operated 330 corporate stores and had 350 franchise locations throughout North America. The Company also operates a network of retail locations in North America operating as Sears Optical and Target Optical, its Licensed Brands, which uses the brand names of their respective American department store. As of March 31, 2011, it operated 828 Sears Optical and 323 Target Optical locations throughout North America. OPSM includes three optical chains that it operates in Australia and New Zealand. In July 2010, the brand launched its new flagship store OPSM Eye Hub and in September 2010, the brand launched its new OPSM Loves Eyes marketing campaign. As of March 31, 2011, the Company owned 357 OPSM corporate stores throughout Australia. OPSM also has 43 corporate-owned stores in New Zealand, mainly in large urban areas.
Laubman & Pank focuses on the independent optical shopper looking for eyecare and service. As of March 31, 2011, Luxottica owned 65 Laubman & Pank corporate stores throughout Australia. As of March 31, 2011, the Company owned 92 Budget Eyewear corporate stores throughout Australia and had nine! franchis! e locations. Budget Eyewear also has 14 corporate stores in New Zealand. EyeMed Vision Care is a managed vision care operators in the United States, serving over 28.5 million members in large and medium size companies and government entities and through insurance companies. EyeMed has a network of over 24,000 locations, including opticians, ophthalmologists, optometrists and chains operated by Luxottica. Together with LensCrafters' over 900 in-store labs, Luxottica operates five central lens finishing labs in North America. In addition, it operates Oakley optical lens laboratories in the United States, Ireland and Japan. As of March 31, 2011, Sunglass Hut had 2,385 stores worldwide, of which 2,329 are corporate stores and 56 are franchise locations. As of March 31, 2011, the Company operated approximately 590 Sunglass Hut departments in Macy's.
ILORI is Luxottica's fashion sunwear retail brand, with 24 stores in North America, as of March 31, 2011, including flagship stores in the SoHo neighborhood of New York City and in Beverly Hills, California. As of March 31, 2011, the Company operated 24 Optical Shop of Aspen stores in locations throughout the United States. Luxottica operates six luxury retail stores under the Oliver Peoples brand. The Oliver Peoples brand retail stores only offer Oliver Peoples, Mosley Tribes and Paul Smith branded optical products. Two additional Oliver Peoples retail locations are operated under license in Tokyo and Los Angeles. In Europe, it operates David Clulow, an optical retailer operating in the United Kingdom and Ireland. As of March 31, 2011, David Clulow operated 39 corporate-owned locations (including nine joint ventures), four franchise locations and 36 sun stores/concessions. As of March 31, 2011, Bright Eyes operated 51 corporate store locations and 73 franchise locations. As of March 31, 2011, the Company operated 159 Oakley O Stores and Vaults worldwide, offering a range of Oakley products, including sunglasses, apparel, footwear and accessories. An! other sal! es channel is e-commerce, including the Oakley and the Ray-Ban Websites (www.oakley.com, www.Ray-Ban.com).
The Company competes with De Rigo S.p.A., Marchon Eyewear, Inc., Marcolin S.p.A., Safilo Group S.p.A., Silhouette International Schmied AG, Maui Jim, Inc., Wal-Mart, Eye Care Centers of America, Vision Service Plan (VSP), Davis Vision and Spectera.
Advisors' Opinion:- [By Nicolas Johnson]
Another stock Mr. Lin likes is Luxottica Group SPA (LUX), which owns or has licenses to sunglass and eyeglass brands, including Ray-Ban, Oakley, Prada, and Dolce & Gabbana. The company, which trades in New York and Milan, also operates the LensCrafters and Sunglass Hut retail stores, among others.
Top 5 Tech Stocks For 2015: Market Vectors Coal ETF (KOL)
Market Vectors-Coal ETF�� (the Fund) investment objective is to replicate as closely as possible, before fees and expenses, the price and yield performance of the Stowe Coal Index (the Coal Index). Van Eck Associates Corporation is the investment adviser to The Fund.
As of December 31, 2007, the Stowe Coal Index consists of the stocks of 60 publicly traded companies. These companies are engaged in the mining and/or transportation of coal, the manufacture of coal mining equipment and the production of clean coal.
Advisors' Opinion:- [By Peter Krauth]
The best way to gain exposure to the potential coal bull is through the Market Vectors Coal ETF (NYSE Arca: KOL). This fund invests in companies that generate at least 50% of their revenues from coal production, mining, mining equipment, transportation, or storage.
- [By Jonathan Yates]
Investors have certainly been "fearful" of the coal sector. The exchange traded fund for coal, Market Vectors Coal (NYSE: KOL), is off nearly 20 percent for the year. Stocks such as Arch Coal (NYSE: ACI) and Alpha Natural Resources (NYSE: ANR) are also down sharply for 2013. But Peabody Energy (NYSE: BTU) just surprised Wall Street in beating forecasts for the most recent quarter: as a result, its share price is up more than 7 percent for the week.
Top Defensive Companies For 2015: Vulcan Materials Company(VMC)
Vulcan Materials Company engages in the production and sale of construction aggregates, as well as asphalt mix, ready-mixed concrete, and cement primarily in the United States. The company operates in four segments: Aggregates, Concrete, Asphalt Mix, and Cement. The Aggregates segment produces construction aggregates, which principally include crushed stone, sand, and gravel. Its aggregates are used in public and private sector construction projects, including highways, airports, water and sewer systems, industrial manufacturing facilities, and residential and nonresidential buildings, as well as railroad track ballast. The Concrete segment produces and sells ready-mixed concrete in California, Florida, Georgia, Maryland, Texas, Virginia, and the District of Columbia; and block and pre-cast beams, as well as resells purchased building materials for use with ready-mixed concrete and concrete block. The Asphalt Mix segment produces and sells asphalt mix in Arizona, Californi a, and Texas. The Cement segment produces and sells Portland and masonry cement in bulk and bags to the concrete products industry. This segment also imports cement, clinker, and slag to resell and export, as well as to blend, bag, or reprocess into specialty cements. In addition, this segment mines, produces, and sells calcium products for the animal feed, paint, plastics, water treatment, and joint compound industries. The company was formerly known as Virginia Holdco, Inc. and changed its name to Vulcan Materials Company in November 2007. Vulcan Materials Company was founded in 1909 and is headquartered in Birmingham, Alabama.
Advisors' Opinion:- [By Ben Levisohn]
The S&P 500 gained 0.4% today, just missing a new all-time high. The benchmark was boosted by the likes of Vulcan Materials (VMC), which rose 7.7% after beating earnings estimates, Newmont Mining (NEM), which rose 5.2% after getting upgraded, and base-metal producers like Alcoa (AA),which rose 7%, and Cliffs Natural Resources (CLF), which finished up 5%.
- [By Dan Caplinger]
Even now, though, it's far from clear whether the recent rebound has staying power. Earlier this month, peer Vulcan Materials (NYSE: VMC ) reported 5% lower shipments of aggregates, although rising prices helped offset the impact, and the company noted double-digit-percentage increases in shipments to hot housing areas including Arizona, California, and Florida. Similarly, Cemex (NYSE: CX ) posted a substantial loss for its March quarter on with 5% lower revenue, but the Mexican company pointed to strength in the U.S. and Asian markets as offsetting weakness in Mexico, Europe, and Latin America.
- [By Ben Levisohn]
Shares of Vulcan Materials (VMC) have surged today after the sand and gravel maker reported better-than-forecast earnings driven by sales of concrete and cement.
Getty ImagesShares of Vulcan have gained 7.6%, and given a lift to other cement makers today, including Martin Marietta Materials (MLM), which has risen 4.9% and reports earnings on Thursday, Cemex (CX), which has advanced 1.5%, and Texas Industries (TXI), which is up 4.9%.
The Associated Press has the details on Vulcan’s earnings beat:
For the three months ended Sept. 30, Vulcan Materials Co. earned $41.4 million, or 31 cents per share. Last year, it earned $14.3 million, or 11 cents per share.
The 2012 third quarter was weighed down by some restructuring charges and exchange offer costs. The recent quarter did not have any of these charges or costs.
The latest quarter also benefited from a bigger gain on the sale of property, equipment and other items than a year ago.
Earnings from continuing operations were 32 cents per share for the recent quarter.
Revenue increased 13 percent to $775.2 million from $687.6 million.
Analysts, on average, expected earnings of 26 cents per share on revenue of $750.7 million, according to FactSet.
Sterne Agee’s Todd Vencil and�Kevin Bennett hone in on pricing:
Pricing wasn�� quite as strong as management had guided, but we don�� think that is an indication of negative demand trends…
We’re not concerned that the relative softness in price growth represents a negative indicator for demand. A number of factors, including shifts in geographic and product mix, could easily account for the change…
And by the looks of things, neither are investors.
Top Defensive Companies For 2015: Guggenheim S&P 500 Equal Weight ETF (RSP)
Rydex S&P Equal Weight ETF (the Fund) seeks to replicate as closely as possible the performance of the S&P Equal Weight Index (the Index). The Index is the equal-weighted version of the S&P 500, which is a measure of the large-capitalization stocks of 500 major corporations selected by Standard & Poor��, a division of The McGraw Hill Company, Inc., for their market size, liquidity and industry group representation. The Index is developed by Standard & Poor's in collaboration with Rydex Investments. The Index utilizes quarterly rebalancing to maintain its equal-weight stance.
The Fund uses a passive management strategy to track the performance of the Index. The Fund invests in substantially all of the securities in the Index in approximately the same proportions as in the Index. The Fund's investment advisor is Rydex Investments.
Advisors' Opinion:- [By Dan Caplinger]
Guggenheim S&P 500 Equal-Weight (NYSEMKT: RSP )
Equal-weight ETFs own the same stocks as regular S&P 500-tracking funds, but with a catch: rather than weighting the amount it invests in each stock by market capitalization, the Guggenheim ETF has roughly equal dollar amounts invested in all 500 of its holdings. Lately, that has produced better returns than the overall S&P, because of weak performance from the S&P's largest companies. With an expense ratio of 0.40%, the Guggenheim offering isn't the cheapest ETF available, but if you like simplicity and think that smaller companies are poised to outperform their larger counterparts, then the equal-weight ETF may be the right pick for you. - [By John Waggoner]
A fund that's weighted by market cap tends to do best in a concentrated market ��that is, when one stock or group of stocks excels. The Guggenheim Investments S&P 500 Equal Weighted ETF (ticker: RSP) has gained 24.3% this year, outpacing the cap-weighted S&P 500. The main reason could well be Apple, which has lost 6.8% this year, including reinvested dividends.
Top Defensive Companies For 2015: Essential Innovations Technology Corp (ESIV)
Essential Innovations Technology Corp., incorporated on April 4, 2001, is a development-stage company, focused towards research and development, commercialization and market entry strategies for the intellectual property that it has acquired in regards to multiple green and environmental technology applications such as fluid heating, electricity generation and water treatment/purification.
The Company will focus its activities on development and commercialization of two primary technologies. The first technology is a method for the design of equipment used in the heating of a variety of fluids such as oil, water (to steam). The second technology is a method for the combined mechanical heating and transport of fluids. As of October 31, 2011, the Company had no operations. As of October 31, 2011, the Company had no revenue.
Advisors' Opinion:- [By Peter Graham]
Small cap green stocks Essential Innovations Technology Corp (OTCBB: ESIV), Building Turbines Inc (OTCMKTS: BLDW) and Kleangas Energy Technologies Inc (OTCMKTS: KGET) have all been getting some attention lately in various investment newsletters ��either because they were sinking, because of paid promotions or a combination of both. However, there aren�� many green stocks out there that have actually produced some green for investors in the form of profits. With that in mind, here is a quick reality check about all three green small cap stocks to help you decide whether any have the potential for long-term success:
Essential Innovations Technology Corp (OTCBB: ESIV) Announces New Distribution AgreementsSmall cap Essential Innovations Technology Corp aims to provide eco-friendly lifestyle enhancement solutions for the betterment of energy, water, air and health as the company holds the exclusive global manufacturing, distribution and applications rights to the ��ximius Technologies - Extraordinary solutions for an ever-changing World.' On Friday, Essential Innovations Technology Corp sank 22.79% to $0.0525 for a market cap of $909,953 plus ESIV is up 4,275% over the past year and up 50% over the past five years according to Google Finance.
Top Defensive Companies For 2015: Premiere Opportunities Group Inc (PPBL)
Premiere Opportunities Group, Inc., formerly Premiere Publishing Group, Inc., incorporated on March 25, 2005, was a magazine publishing company. The Company�� primary objective is to identify an operating company with a view to achieving long-term growth.
The Company had operated principally through two wholly owned subsidiaries Sobe Life LLC and Poker Life LLC. The Company has discontinued all publishing activities. As of December 31, 2011, it had not generated any revenues.
Advisors' Opinion:- [By Jonathan Yates]
For investors, there are three reasons to be bullish about luxury item stocks, ranging from well-known brands such as Ralph Lauren (NYSE: RL) and Coach (NYSE: COH), to promising small caps like Premier Opportunities Group (OTC: PPBL).
Top Defensive Companies For 2015: Octagon 88 Resources Inc (OCTX)
Octagon 88 Resources, Inc., incorporated on June 9, 2008, is a development-stage oil and gas company. The Company has acquired light and conventional heavy oil assets in Northern Alberta. On Jan 22, 2013, the Company launched the Conventional Oil Production Division by entering into a purchase agreement to acquire its share in the Red Earth Area, which consists of four contiguous sections of P&NG leases, a ( 40 API) Keg River formation with P3 reserves of 1.2 Mill barrels light sweet crude oil recoverable.
On December 24, 2012, the Company acquired a 22% interest of CEC North Star Energy Ltd. (North Star). On January 23, 2013, the Company acquired a 10% interest in North Star.
Advisors' Opinion:- [By Jonathan Yates]
It will also be bullish for publicly traded companies in each sector, ranging from prominent blue chips like Exxon Mobil (NYSE: XOM) and Goldcorp (NYSE: GG) to promising small caps like Octagon 88 (OTC: OCTX) and Wishbone Gold PLC (OTC: WISHY).
- [By Jonathan Yates]
"Octagon 88 has received confirmation of 1.6 billion billion barrels PIIP," was the headline for the press release dated September 11, 2013. Needless to say, Octagon 88 (OTCBB: OCTX), a small cap oil and natural gas exploration based in Switzerland with assets in the oil-rich Alberta province of Canada, has soared on that and other bullish news. From early July, the stock price for Octagon 88 just about doubled.
Top Defensive Companies For 2015: Expeditors International of Washington Inc.(EXPD)
Expeditors International of Washington, Inc. provides logistics services in the United States and internationally. The company?s services include consolidation or forwarding air and ocean freight; distribution management; vendor consolidation; cargo insurance; purchase order management; and customized logistics information. Its airfreight services comprise the procurement of shipments from its customers; determination of the routing; consolidation of shipments bound for a particular airport distribution point; and selection of the airline for transportation to the distribution point. The company also offers breakbulk services that include receiving and breaking down consolidated airfreight lots and arranging for distribution of the individual shipments. Its ocean freight and ocean services include ocean freight consolidation; and handling full container loads. In addition, the company acts as a customs broker, who assists importers to clear shipments through customs by pre paring required documentation, calculating and providing for payment of duties on behalf of the importer, arranging for any required inspections by governmental agencies, and arranging for delivery; and provides other value added services at destination, such as warehousing and product distribution, time definite transportation, and inventory management. Further, it offers custom clearances for goods moving by rail and truck between the United States, Canada, and/or Mexico; and customs consulting services The company?s customers primarily include retailers, distributors of consumer electronics, department store chains, clothing and shoe wholesalers, manufacturers, and catalogue stores. Expeditors International of Washington, Inc. was founded in 1979 and is based in Seattle, Washington.
Advisors' Opinion:- [By Rich Smith]
This series, brought to you by Yahoo! Finance, looks at which upgrades and downgrades make sense, and which ones investors should act on. Today, three new ratings in the shipping sphere are grabbing headlines, as investment banker RBC Capital Markets upgrades UPS (NYSE: UPS ) to outperform, but cuts both FedEx (NYSE: FDX ) and shipping facilitator Expeditors International (NASDAQ: EXPD ) to underperform.
- [By Brian Pacampara]
Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, global logistics company Expeditors International of Washington (NASDAQ: EXPD ) has earned a respected four-star ranking.
- [By Ben Levisohn]
The express-delivery company has gained 28% during the past three months, trumping the 18% return from�United Parcel Service�(UPS), the 4.6% gain in J.B. Hunt Transport Services (JBHT) and the 0.2% rise in Expeditors International of Washington�(EXPD).
- [By Rich Duprey]
Global logistics specialist Expeditors International (NASDAQ: EXPD ) announced yesterday that the company's CEO would retire effective�March 1.�
Top Defensive Companies For 2015: Ishares Msci Emu Index (EZU)
iShares MSCI EMU 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 European Monetary Union (EMU) markets, as measured by the MSCI EMU Index (the Index). The Index seeks to measure the performance of the equity market of the EMU member countries, which includes those members of the European Union who have adopted the Euro as its currency. 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 Dave and Donald Moenning]
At the beginning of the year, those seeing the glass as at least half-empty were expecting Europe (EZU) to drag the economies of the world into recession, China's (FXI) economic growth to tank, the unrest in the Middle East to become a huge problem, the Fed to make a mistake, earnings to soften and the politicians in Washington to send the U.S. into a depression.
Top Defensive Companies For 2015: Silicon Graphics International Corp(SGI)
Silicon Graphics International Corp. provides computing and storage, and data center solutions, as well as related customer support and professional services. The company offers scale up servers; scale out servers; work group servers; data storage systems; and software products for technical computing, as well as data center infrastructure products, including ICE Cube Air, a modular data center that augments or replaces traditional brick-and-mortar data centers; and MobiRack, a line of mobile, all-in-one data center cabinets for field deployments. Its products and services are used by the scientific, technical, and business communities for solving challenging data-intensive computing, data storage, and management problems. The company also develops system applications, such as simulating global climate changes, accelerating engineering of new automotive designs, supporting homeland security initiatives, real-time fraud detection, streaming media from Internet-video to film , and gaining business intelligence through data-mining to defense and strategic systems, weather and climate, physical and life sciences, energy, aerospace and automotive, media and entertainment, semiconductor design and manufacturing, financial services, data centers, and business intelligence and data analytics markets; and enterprise class features for the Linux operating system that provide a standard Linux operating environment. Silicon Graphics International Corp. markets and sells its systems, technologies, software, and services to enterprises in approximately 25 countries through direct and indirect sales force, including distributors, original equipment manufacturers, system integrators, value added resellers, and channel partners. The company was formerly known as Rackable Systems, Inc. and changed its name to Silicon Graphics International Corp. in May 2009. Silicon Graphics International Corp. was incorporated in 2002 and is headquartered in Fremont, Californi a.
Advisors' Opinion:- [By Wallace Witkowski]
One recent example of how the shutdown wormed its way into earnings was a profit warning from Silicon Graphics International Corp. (SGI) . SGI cut its outlook,�citing lost revenue from contracts that were frozen late in the September-ending quarter in the run-up to the shutdown. Shares of the large-scale computing company dropped nearly 10% on Friday following the late Thursday warning.
- [By Alex Planes]
What: Shares of Silicon Graphics (NASDAQ: SGI ) are up by roughly 8% today after having risen as much as 15% by midday. The fluctuations of today's pop seem to be based on swings between a strong earnings report from the company and a bit of underwhelming forward guidance.
- [By Seth Jayson]
Silicon Graphics International (Nasdaq: SGI ) is expected to report Q3 earnings on April 30. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Silicon Graphics International's revenues will grow 7.7% and EPS will expand 27.3%.
Top Defensive Companies For 2015: First Horizon National Corp (FHN)
First Horizon National Corporation (FHN), incorporated in 1968, is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank), and its subsidiaries. The Company�� two brands First Tennessee and FTN Financial provide customers with a range of products and services. First Tennessee provides retail and commercial banking services throughout Tennessee. FTN Financial (FTNF) is engaged in fixed income sales, trading, and strategies for institutional clients in the United States and abroad. FHN has four operating business segments: regional banking, capital markets, corporate, and non-strategic. As of December 31, 2011, the Bank had $16.4 billion in total deposits and $16 billion in total net loans. As of December 31, 2011, the Company�� subsidiaries had over 200 business locations in 17 the United States states, Hong Kong, and Tokyo, excluding off-premises automated teller machines (ATMs). As of December 31, 2011, the Bank had 183 branch locations in four states, which include 172 branches in metropolitan areas of Tennessee; two branches in northwestern Georgia; seven branches in northwestern Mississippi, and two branches in North Carolina. As of December 31, 2011, FTN Financial products and services were offered through 18 offices in total, including 16 offices in 14 states plus an office in each of Hong Kong and Tokyo.
The regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and surrounding markets. Regional banking provides investments, financial planning, trust services and asset management, credit card, cash management, and first lien mortgage originations within the Tennessee footprint. In addition, the regional banking segment includes correspondent banking, which provides credit, depository, and other banking related services to other financial institutions.
The capital markets se! gment consists of fixed income sales, trading, and strategies for institutional clients in the United States and abroad, as well as loan sales, portfolio advisory, and derivative sales. The corporate segment consists of gains on the extinguishment of debt, unallocated corporate expenses, expense on subordinated debt issuances and preferred stock, bank-owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, low income housing investment activities, and charges related to restructuring, repositioning, and efficiency. The non-strategic segment consists of the wind-down national consumer lending activities, legacy mortgage banking elements, including servicing fees, and the associated ancillary revenues and expenses related to these businesses. Non-strategic also includes the wind-down trust preferred loan portfolio and exited businesses along with the associated restructuring, repositioning, and efficiency charges.
As of December 31, 2011, the Company provided services through its subsidiaries, which include general banking services for consumers, businesses, financial institutions, and governments; through FTN Financial fixed income sales and trading, underwriting of bank, loan sales, advisory services and derivative sales; discount brokerage and full-service brokerage; correspondent banking; transaction processing, such as nationwide check clearing services and remittance processing; trust, fiduciary, and agency services; credit card products; equipment finance; investment and financial advisory services; mutual fund sales as agent; retail insurance sales as agent, and mortgage banking services.
As of December 31, 2011, the commercial, financial, and industrial (C&I) portfolio was eight billion dollars, and is consisted of loans used for general business purposes, and consisted of relationship customers in Tennessee and certain n! eighborin! g states, which are managed within the regional bank. Products include working capital lines of credit, term loan financing of owner-occupied real estate and fixed assets, and trade credit enhancement through letters of credit. As of December 31, 2011, the unpaid principal balance (UPB) of trust preferred loans totaled $447.2 million with the UPB of other bank-related loans totaling approximately $161.8 million. The commercial real estate portfolio includes both financings for commercial construction and non-construction loans. This portfolio is segregated between income commercial real estate (CRE) loans which contain loans, lines, and letters of credit to commercial real estate developers for the construction and mini- permanent financing of income-producing real estate, and residential CRE loans. The residential CRE portfolio includes loans to residential builders and developers for the purpose of constructing single-family detached homes, condominiums, and town homes. As of December 31, 2011, the residential CRE portfolio was $.1 billion. As of December 31, 2011, the consumer real estate portfolio was $5.3 billion, and is composed of home equity lines and installment loans. As of December 31, 2011, the credit card and other portfolios were $.3 billion, and primarily include credit card receivables, automobile loans, and over-the-counter (OTC) construction loans and other consumer related credits.
FHN�� investment portfolio consists of debt securities, including government agency issued mortgage-backed securities (MBS) and government agency issued collateralized mortgage obligations (CMO). During the year ended December 31, 2011, Government agency issued MBS and CMO, and other agencies averaged $2.9 billion. During 2011, the United States treasury securities and municipal bonds averaged $79.5 million. During 2011, investments in equity securities averaged $222.3 million.
During 2011, short-term funds (certificates of deposit greater than $100,000, federal funds purchased (! FFP), sec! urities sold under agreements to repurchase, trading liabilities, and other short-term borrowings) averaged $3.6 billion. During 2011, other borrowings increased to $.3 billion. Term borrowings include senior and subordinated borrowings and advances with original maturities greater than one year. During 2011, average term borrowings averaged $2.6 billion.
The Company competes with Regions Bank, SunTrust Bank, Wells Fargo Bank N.A., Bank of America N.A., and Pinnacle National Bank.
Advisors' Opinion:- [By John Maxfield]
Given that you clicked on this article, it seems safe to assume you either own stock in First Horizon National (NYSE: FHN ) or are considering buying shares in the near future. If so, then you've come to the right place. The table below reveals the nine most critical numbers that investors need to know about First Horizon stock before deciding whether to buy, sell, or hold it.
- [By Eric Volkman]
After the close of trading Friday, the S&P 500 will include Pfizer spinoff Zoetis (NYSE: ZTS ) . The stock replaces First Horizon National (NYSE: FHN ) , which is to find a new home on the S&P MidCap 400.
- [By Monica Gerson]
First Horizon National (NYSE: FHN) is estimated to report its Q3 earnings at $0.18 per share on revenue of $307.14 million.
Laboratory Corp. of America Holdings (NYSE: LH) is expected to report its Q3 earnings at $1.80 per share on revenue of $1.45 billion.
- [By Sean Williams]
Finally, regional bank First Horizon National (NYSE: FHN ) , which has banking branches throughout Tennessee, added 4.2% just a day after paying shareholders a $0.05 quarterly dividend. Like Genuine Parts, there is no company specific news driving First Horizon higher, but the prospect for a higher net interest margin because of higher interest rates is certainly adding a boost to banks like First Horizon that rely on traditional loan and deposit growth. But as my Foolish colleague John Maxfield recently pointed out, you may want to keep your expectations for First Horizon tempered in the interim.
Top Defensive Companies For 2015: Hydrogenics Corp (HYGS)
Hydrogenics Corporation, incorporated on June 10, 2009, together with its subsidiaries, designs, develops and provides hydrogen generation and fuel cell products based on water electrolysis technology and proton exchange membrane (PEM) technology. The Company conducts its business through two business units: OnSite Generation, which focuses on hydrogen generation products for renewable energy, industrial and transportation customers, and Power Systems, which focuses on fuel cell products for original equipment manufacturers (OEMs) systems integrators and end users for stationary applications, including backup power, and motive applications, such as forklift trucks. The Company�� products include HySTAT hydrogen generation equipment in its OnSite Generation business and HyPM fuel cell products in its Power Systems business.
The Company maintains operations in Belgium, Canada and Germany. Its OnSite Generation business segment is based in Oevel, Belgium and develops products for industrial gas, hydrogen fueling and renewable energy storage markets. The Company�� Power Systems business segment is based in Mississauga, Canada, with a satellite facility in Gladbeck, Germany, and develops products for energy storage, stationary and motive power applications.
OnSite Generation
The Company�� OnSite Generation business segment, is based on water electrolysis technology, which includes the decomposition of water into oxygen (O2) and hydrogen gas (H2) by passing an electric current through a liquid electrolyte. Its brand includes HySTAT electrolyzer products, which is configured for both indoor and outdoor applications. Its OnSite Generation products are sold to merchant gas companies, such as Air Liquide and Linde Gas and end-users requiring hydrogen produced on-site for industrial applications. The Company also sells and services products for oil and gas companies, such as Shell Hydrogen, requiring hydrogen fueling stations for transportation applications.
Power Systems
The Company�� Power Systems business segment is based on PEM fuel cell technology, which transforms chemical energy liberated during the electrochemical reaction of hydrogen and oxygen into electrical energy. It also develops and delivers hydrogen generation products based on PEM water electrolysis, which can also be used to serve the energy storage markets. Its target markets include backup power for telecom and data centre installations and motive power applications, such as buses, trucks and utility vehicles. The Company�� Power Systems products are sold to original equipment manufacturers (OEMs), such as CommScope, Inc. (CommScope) to provide backup power applications for telecom installations and vehicle and other integrators for motive power, direct current (DC) and alternative current (AC) backup. In addition, its products are sold for prototype field tests. The Company also sells its Power Systems products to the military.
HySTAT Hydrogen Stations
HySTAT Hydrogen Stations offer an on-site supply of hydrogen for a range of hydrogen applications, including vehicle fuelling, distributed power, and a variety of industrial processes. It also provides spare parts and service for its entire installed base.
As of December 31, 2011, the Company offered its HySTAT Hydrogen Station in multiple configurations based on the amount of hydrogen required. This product is suitable for producing continuous or batch supplies of hydrogen for industrial processing applications and generates between 10 - 60 normal cubic meters per hour (Nm3/hr) of hydrogen.
HyPM Fuel Cell Products
The Company�� HyPM fuel cell products provide electrical power from clean hydrogen fuel. Its HyPM fuel cell products include HyPM Fuel Cell Power Modules, HyPX Fuel Cell Power Pack, Integrated Fuel Cell Systems and Engineering Development Services. Its HyPM power module runs on hydrogen and produces direct current (DC) power. This product! is suita! ble for a range of stationary, mobile and portable power applications. The HyPM XR model is targeted at backup power applications and the HyPMHD model is targeted at motive power applications. The Company�� HyPX Power Pack includes a HyPM power module integrated with hydrogen storage tanks and ultracapacitors that provide higher power in short bursts. Its integrated fuel cell systems are built around its HyPM power modules and used for portable and stationary applications, including portable and auxiliary power units for military applications and DC backup power system for cellular tower sites. The Company also enters into engineering development contracts with certain customers for new or custom products.
The Company competes with Air Liquide and Linde Gas.
Advisors' Opinion:- [By John Udovich]
Small cap hydrogen fuel stocks Hydrogenics Corporation (NASDAQ: HYGS), FuelCell Energy Inc (NASDAQ: FCEL), HyperSolar Inc (OTCMKTS: HYSR) and HydroPhi Technologies Group, Inc (OTCMKTS: HPTG) are some of the lesser known small caps that are�working with hydrogen fuel or hydrogen fuel cell related technology. I should say that small cap hydrogen stocks are not for risk adverse investors as there are considerable unanswered questions about hydrogen fuel related technology and whether it can be a viable green technology given the fueling infrastructure needed along with the�energy and expense involved in creating hydrogen�(Note: None of these small cap�stocks are profitable at ). But any new technology will pose the same types of risks for early stage investors���especially if its so-called green technology.�
Top Defensive Companies For 2015: Qlik Technologies Inc.(QLIK)
Qlik Technologies Inc. engages in the development, commercialization, and implementation of software products and related services for user-driven business intelligence that enables customers to make business decisions primarily in the Americas, Europe, the Asia-Pacific region, and Africa. It provides QlikView Business Discovery platform, which helps people create and share insights and analysis in groups and across organizations. Business users can explore data, ask and answer their own stream of questions, and follow their own path to insight on their own and in teams and groups. The company also offers maintenance and professional services. It sells its products to a range of industry verticals, including consumer packaged goods, financial services, pharmaceuticals, retail, manufacturing, technology, and healthcare through its direct sales force, as well as through an indirect channel partners comprising distribution partners, value-added resellers, system integrators, and original equipment manufacturers to license and support its software platform. The company was founded in 1993 and is headquartered in Radnor, Pennsylvania.
Advisors' Opinion:- [By Tim Beyers and Erin Miller]
Shares of Qlik Technologies (NASDAQ: QLIK ) are on the move. The company, which made a name for itself delivering business intelligence and analytics to anyone, anywhere via mobile devices, popped 13% after reporting strong revenue gains and upbeat guidance.
- [By John Udovich]
Yesterday, small cap business intelligence stock MicroStrategy Incorporated (NASDAQ: MSTR) surged 18.44%�after reporting better-than-expected third quarter earnings ��meaning it might be a good idea to take a closer look at it�along with�small cap peers Actuate Corporation (NASDAQ: BIRT) and Qlik Technologies Inc (NASDAQ: QLIK) to see what they might offer small cap investors. After all, everyone is being inundated with huge amounts of data from multiple sources, but its the following small cap stocks that provide software platforms to help customers try to make sense of it all:�
- [By Eric Volkman]
Qlik Technologies (NASDAQ: QLIK ) will have a new CFO once July rolls around. The company said that Tim MacCarrick is to take up the post on July 1. He replaces Bill Sorenson, who announced his departure from the firm in February. The two men will temporarily work together to "ensure a smooth transition," according to a company press release announcing the news.
- [By Ant贸nio Costa]
Qlik Technologies Inc(NASDAQ: QLIK) Looks good as it breaks to new highs. Looking at the technical daily chart above, it shows very strong upward momentum as the stock is above all EMAs, with both 200-day and 50-day exp moving average going up. In addition, CMF and MACD also show very bullish signs.
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