May 6, 2013
Highlights from Berkshire Hathaway’s Annual Shareholder Meeting Q&A
 Berkshire Hathaway (BRKA) held its annual shareholder meeting on Saturday Omaha, Nebraska to the usual fanfare. The event drew some 35,000 people, and featured a question and answer session between CEO Warren Buffet and Vice Chairman Charlie Munger with various journalists, shareholders, analysts, and others that last several hours. The questions covered a wide variety of topics from the global economy, to specific questions about Berkshire’s numerous holdings, to the more touchy issue of succession once Mr. Buffet, now 82 years of age, no longer occupies his position as the company’s CEO. One of the more commented-on participants to the discussion was hedge fund manager Doug Kass. Kass, of Seabreeze Partners Management, has a short position on Berkshire’s stock and he was invited by the company to ask some of his own questions. On the whole, those exchanges were often (more)…
May 2, 2013
Expanded Mobile Services and Strong Earnings Signal a Promising 2013 for Visa
 Visa (V) reported net income for the first quarter was $1.27 billion, $1.92 per share, on revenue of $2.96 billion, against the prior-year period during which Visa netted $1.29 billion or $1.91 per share on revenue of $2.58 billion. An average of analyst forecasts had projected the company’s earnings at $1.81 per share on revenue of $2.85 billion. The world’s largest credit and debit card operator explain the earnings beat by pointing to a 10 percent increase in service revenue, a 25 percent increase in data processing revenue, and a 13 percent increase in transaction revenues. The above figures are important because the company brings in its revenue from transaction processing fees, and thus any increase must be considered as bearing some relationship to increases in consumer spending. While Visa processed $255 billion in credit card charges in the United (more)…
May 1, 2013
Berkshire Hathaway Spending $2 Billion for Full Control of Iscar
 Berkshire Hathaway Inc. (BRKA) disclosed Wednesday morning that it will spend $2.05 billion to acquire the remaining 20 percent of Israel-based IMC International Metalworking Companies BV that it doesn’t already own. Berkshire, headed-up by billionaire investor Warren Buffett, said that it will be acquiring the remaining stake from the Wertheimer family that founded the company sixty years ago. Berkshire acquired its 80 percent stake in the company known as “Iscar” in 2006 for $5 billion. It was the first overseas acquisition in the history of Berkshire Hathaway. According to Nasdaq.com, it was one of the largest corporate deals in Israel’s history. “Since the time IMC entered our lives, my partner, Charlie Munger, and I have enjoyed Berkshire’s association with the company, the Wertheimer family, and the company’s management team,” said Warren Buffett, chairman and chief executive at Berkshire. “As you (more)…
Trulia Shines on Revenue Beat and Q2 Outlook
 The online real-estate resource Trulia, Inc. (TRLA) reported better than expected earnings after Tuesday’s close, sending shares soaring in late trading. With a subscriber base that is growing along with mobile use, the company reported an adjusted net loss of $0.6 million, or $0.02 per share on revenue of $24 million, versus the prior year period’s figures of $3.7 million, or $0.54 cents per share. The company missed estimates on earnings that had it losing $0.01 per share, but far outpaced revenue expectations of $21.1 million with a 97 percent increase on Q1 of 2012. Furthermore, Trulia increased its revenue guidance for the second quarter to a range of $27.3 million to $27.7 million, versus estimates of $24.5 million. Trulia reported 31.4 million unique monthly visits during the quarter, up from 20.6 million in the prior year period. Unique visits (more)…
April 29, 2013
Stocks Under $10: Savings and Loans Companies
 At www.ValuEngine.com we show that the Finance sector is 13.3% overvalued. The Banks Savings & Loan industry is 21.1% overvalued. All 11 stocks in today’s table have complete ValuEngine data and have enough price data to have most value levels, risky levels and pivots. AF – was a $30 stock in December 2006 and has been trading around $10 so far in 2013. BNCL – has been trading around $10 so far in 2013. BRKL – has been below $10 since the week of April 30, 2011. CBNJ – has been below $10 since the week of July 30, 2011. FCTY – has been below $9 for at least five years. FNFG – has been below $10 since the week of April 7, 2012. HCBK – has been below $10 since the week of April 16, 2011. NBN – has (more)…
April 26, 2013
Stocks Under $10: Community Banks in the West
 At www.ValuEngine.com we show that the Finance sector is 13.3% overvalued. The Banks West industry is 4.2% overvalued. All 10 stocks in today’s table have complete ValuEngine data and have enough price data to have most value levels, risky levels and pivots. AMRB – was a $24 stock in January 2007 and has been below $10 since the week of August 8, 2009. CACB – was a $319 stock in December 2006 and has been below $10 since the week of August 13, 2011. COBZ – was a $22 stock in December 2006 and has been below $10 since the week of December 27, 2008. CVCY – has been below $10 since the week of August 2, 2008. FCAL – has been below $10 since the week of October 20, 2007. GBNK – has been below $9.75 for at least (more)…
April 25, 2013
Stocks Under $10: Midwest Community Banks
 At www.ValuEngine.com we show that the Finance sector is 13.3% overvalued. The Banks Midwest industry is 4.5% overvalued. All five stocks in today’s table have complete ValuEngine data and have enough price data to have most value levels, risky levels and pivots. BUSE – was a $23 stock in February 2007 and has been below $10 since the week of April 4, 2009. BYLK – was a $16 stock in January 2007, then traded as low as $1.55 in February 2009 and tested $10 on March 1, 2013. HBAN – was a $24 stock in February 2007 and has been below $10 since the week of November 15, 2008. LNBB – has been below $10 since the week of October 11, 2008. OSBC – was a $30 stock in October 2007 and has been below $10 since the week of (more)…
April 23, 2013
MetLife Spikes on First Dividend Hike in Six years
 Shares for the United States’ biggest life insurance provider MetLife (MET) were up over 6 percent to as high as $38.35 on Tuesday, as the company announced that it would be increasing its dividend payout for the first time since 2007. Last year, MetLife’s $2 billion share buyback and dividend $1.10 per share dividend increase plans were nixed by the Federal Reserve, whose stress tests found that the company would fall short of the capital requirements deemed necessary for financial institutions to survive severe and unexpected disruptions to the economy. In 2011, the company announced its intent to end its bank holding operations that alone were keeping it under the careful scrutiny of Federal Reserve regulators. In February, MetLife officially ended its status as a bank with approval from the Federal Deposit Insurance Corporation and the Federal Reserve when it (more)…
Stocks Under $10: Northeast Community Banks
 At www.ValuEngine.com we show that the Finance sector is 11.9% overvalued. The Banks Northeast industry is 15.6% overvalued. All eight stocks in today’s table have complete ValuEngine data and have enough price data to have most value levels, risky levels and pivots. FCF – has been below $10 since the week of May 2, 2009. LBAI – has been trading around $10 so far in 2013. NPBC – has been trading around $10 so far in 2013. PBNY – has been below $10 since the week of April 16, 2011. SHBI – has been below $10 since the week of May 7, 2011. SNBC – has been below $10 since the week of November 15, 2008. TRST– has been below $10 since the week of December 27, 2008. VLY– has been trading around $10 so far in 2013. Reading the (more)…
April 18, 2013
First-Quarter Profit Up at American Express, But Revenue Miss Expectations
 American Express Co. (AXP) reported after Wednesday’s closing bell that its profits and revenue rose in the first quarter of 2013 as card holders used their cards to spend more money while the company also benefited from higher member fees and net interest income. The New York-based company said that revenue increased to $7.9 billion, up 4 percent from $7.6 billion in the first quarter of 2012. Net income rose to $1.28 billion, or $1.15 per share, topping the year prior quarter’s $1.26, or $1.07 per share, by 7 percent on a per-share-basis. Wall Street was anticipating American Express to report EPS of $1.12 on revenue of $8.03 billion. Total revenues net of interest expense increased 5 percent to $4.1 billion from $3.9 billion a year ago. The increase was driven by an 8 percent increase in cardmember spending and (more)…
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