Shares of General Motors (GM) are on the skids again this morning after reports that the company knew of the ignition switch defect as early as 2005. General Motors will face Congress tomorrow and Wednesday.
REUTERSBloomberg has the details on what General Motors knew and when:
General Motors Co., after months of studying ignition-switch failures in the Chevrolet Cobalt, canceled a proposed fix in 2005, when a project engineering manager cited high tooling costs and piece prices, according to documents obtained by U.S. congressional investigators.
A separate opportunity to address the defect was passed over by the National Highway Traffic Safety Administration in 2007, when it opted not to open a formal defect investigation even after an agency official had said a probe was justified, according to an interview between current NHTSA officials and staff members of the House Energy and Commerce Committee
Top Services Stocks To Watch For 2016: Air Products and Chemicals Inc. (APD)
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, performance materials, equipment, and services worldwide. The company?s Merchant Gases segment sells atmospheric gases, such as oxygen, nitrogen, and argon; process gases, including hydrogen and helium; and medical and specialty gases for the metal, glass, chemical processing, food processing, healthcare, steel, general manufacturing, and petroleum and natural gas industries. This segment also offers respiratory therapies, home medical equipment, and infusion services primarily in Europe. Its Tonnage Gases segment provides hydrogen, carbon monoxide, nitrogen, oxygen, and syngas to the energy production and refining, chemical, and metallurgical industries; and produces dinitrotoluene used in the manufacture of a precursor of polyurethane foam. The company?s Electronics and Performance Materials segment offers nitrogen trifluoride, silane, arsine, phosphine, white ammonia, silicon tetra fluoride, carbon tetrafluoride, hexafluoromethane, critical etch gases, and tungsten hexafluoride; and tonnage gases, specialty chemicals, and services and equipment for the manufacture of silicon and compound semiconductors, thin film transistor liquid crystal displays, and photovoltaic devices. This segment also provides performance materials for a range of products, including coatings, inks, adhesives, civil engineering, personal care, institutional and industrial cleaning, mining, oil refining, and polyurethanes. Its Equipment and Energy segment designs and manufactures cryogenic equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and helium distribution; and offers plant design, engineering, procurement, and construction management services for the chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing industries. The company was founded in 1940 and is based in All entown, Pennsylvania.
Advisors' Opinion:- [By Garrett Cook]
Air Products & Chemicals (NYSE: APD) shares were also up, gaining 7.17 percent to $130.32 after the company named Rockwood's Seifi Ghasemi as its new chairman, president and CEO.
- [By GuruFocus] l Gates sold out his holdings in Air Products & Chemicals Inc. His sale prices were between $102.58 and $113.66, with an estimated average price of $108.95.
Sold Out: Toyota Motor Corp (TM)
Bill Gates sold out his holdings in Toyota Motor Corp. His sale prices were between $118.61 and $131.65, with an estimated average price of $125.74.
Sold Out: Diamond Foods, Inc. (DMND)
Bill Gates sold out his holdings in Diamond Foods, Inc.. His sale prices were between $20.78 and $26.05, with an estimated average price of $23.92.
Here is the complete portfolio of Bill Gates.�
Also check out: Bill Gates Undervalued Stocks Bill Gates Top Growth Companies Bill Gates High Yield stocks, and Stocks that Bill Gates keeps buying
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More GuruFocus Links Latest Guru Picks Value Strategies Warren Buffett Portfolio Ben Graham Net-Net Real Time Picks Buffett-Munger Screener Aggregated Portfolio Undervalued Predictable ETFs, Options Low P/S Companies Insider Trend - [By Ben Levisohn]
Air Products & Chemicals’ (APD) gain is Rockwood Holdings’ (ROC) loss after Air Products hired away Rockwood’s CEO Seifi Ghasemi to run the chemical company.
REUTERSOppenheimer’s Edward Yang and Luis Amadeo explain why poaching Ghasemi from�Rockwood is good news for Air Products & Chemicals:
Mr. Ghasemi led Rockwood Holdings through its divestiture of seven “non-strategic” businesses (Advanced Ceramics, Clay Additives, TiO2 and four other) for a total enterprise value of ~$3.9B. While his experience in industrial gases was the key consideration, his hiring could signal that Air Products & Chemicals may be open to divestitures, which have been anticipated by activist investors.
Although�Air Products & Chemicals has not expressed intentions to divest any of its businesses, investors have periodically questioned whether or not�Air Products & Chemicals should sell its volatile Electronics business (~17% of sales), which is more cyclical than its core industrial gases business.
As a reminder, Air Products & Chemicals was in the low $90s when activist Bill Ackman told investors in July 2013 that he had taken a major position in a large-cap, investment-grade US corporation. Since then Air Products & Chemicals has closed its valuation gap with Praxair (PX), although restructuring has been limited so far.
The one problem: Air Products & Chemicals valuation. “[Air Products & Chemicals] has generally been at a discount to [Praxair] in the last five years due to its mix and more volatile performance, but closed the gap last year on activist involvement and potential restructuring,” Yang and Amadeo note.�Air Products & Chemicals trades at 21 times 2015 earnings, in line with Airgas’s (ARG) P/E ratio of 21.5 but well above Praxair’s 18.5 times.
Shares of Air Products & Chemicals have jumped 6.8% to $129.97 at 12:03 p.m. tod
- [By Rich Duprey]
As mining, metal fabrication, and food industries expand in Chile, the need for industrial gases is growing such that specialty gas maker Air Products� (NYSE: APD ) announced it will build a new facility in Antofagasta as well as�expand the capacity of its Graneros plant south of�Santiago at a cost of more than $15 million.
10 Best Dow Dividend Stocks To Watch For 2015: Liberty Media Corp (LMCB)
Liberty Media Corporation, formerly Liberty Spinco, Inc., incorporated on August 10, 2012, focuses on the media, communications and entertainment industries through its ownership of interests in subsidiaries and other companies. Its businesses and assets include consolidated subsidiaries, Atlanta National League Baseball Club, Inc. and TruePosition, Inc., its equity affiliates Sirius XM Radio Inc. and Live Nation Entertainment, Inc. and minority investments in public companies such as Barnes & Noble, Inc., Time Warner Inc., Time Warner Cable, Inc., Viacom Inc. and Sprint Nextel Corporation. On January 11, 2013, Liberty Media Corporation and Starz announced the completion of the spin-off of Liberty from Starz. In connection with the spin-off, Liberty changed its name from Liberty Spinco, Inc. to Liberty Media Corporation. In January 2013, the Company announced that it held approximately 50.7% interest of Sirius XM Radio Inc. In May 2013, Liberty Media Corp acquired a 27.38% stake in Charter Communications Inc.
Atlanta National League Baseball Club, Inc., or ANLBC, a wholly owned subsidiary, owns and operates the Atlanta Braves Major League Baseball (MLB) franchise and five minor league baseball clubs (the Gwinnett Braves, the Mississippi Braves, the Rome Braves, the Danville Braves and the GCL Braves). TruePosition is a wholly owned subsidiary that develops and markets technology for locating wireless phones and other wireless devices enabling wireless carriers, application providers and other enterprises to provide E-911 services domestically and other location-based services to mobile users both domestically and worldwide. Sirius XM Radio Inc. (Sirius) broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
Sir! ius XM Radio Inc. satellite radios are primarily distributed through automakers (OEMs), retail locations nationwide, and through its Website. Sirius offers a dynamic programming lineup of commercial-free music, sports, entertainment, talk, news, traffic and weather. The channel line-ups for its services vary in certain respects and are available at siriusxm.com. Sirius offers a selection of music genres, ranging from rock, pop and hip-hop to country, dance, jazz, Latin and classical. Within each genre it offers a range of formats, styles and recordings. Sirius offers a range of national, international and financial news, including news from BBC World Service News, Bloomberg Radio, CNBC, CNN, FOX News, HLN, MSNBC, NPR and World Radio Network. Barnes & Noble, Inc., is a content, commerce and technology company providing customers easy and convenient access to books, magazines, newspapers and other content across its multi-channel distribution platform. As of April 28, 2012, Barnes & Noble operated 1,338 bookstores in 50 states, including 647 bookstores on college campuses, operates one of the Internet's e-Commerce sites and develops digital content products and software.
Advisors' Opinion:- [By Wallace Witkowski]
Liberty Media (LMCA) � (LMCB) �class A shares fell 3% to $141.06 on light volume.
10 Best Dow Dividend Stocks To Watch For 2015: Ishares S&P Midcap 400 Index Fund (IJH)
iShares S&P MidCap 400 Index Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the Standard & Poor�� MidCap 400 Index (the Index). The Index measures the performance of the mid-capitalization sector of the United States equity market. The Index serves as the underlying index for the S&P 400/Citigroup Growth and Value Index series. The components stocks are weighted according to the total float-adjusted market value of their outstanding shares. The component stocks have a market capitalization between $1 billion and $4 billion (which may fluctuate depending on the overall level of the equity markets), and are selected for liquidity and industry group representation.
The Index is adjusted to reflect changes in capitalization resulting from mergers, acquisitions, stock rights, substitutions and other capital events. 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 John Udovich]
Moreover,�my guess is that the switch will be a wash for investors as funds and ETFs that track the S&P 500 will dump their positions in Advanced Micro Devices and SAIC Inc while those that track the S&P Mid Cap 400 will be obligated to take up positions in both. A quick look at the performance of the iShares S&P 500 Index ETF (NYSEARCA: IVV) verses the iShares Core S&P Mid Cap ETF (NYSEARCA: IJH) reveals the following:
10 Best Dow Dividend Stocks To Watch For 2015: Material Sciences Corporation(MASC)
Material Sciences Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of material-based solutions for acoustical and coated applications in the United States and internationally. It offers acoustical material-based solutions, which include multilayer composites consisting of metals, polymers, and other coated materials used to manage noise and vibration in automotive body panel parts, brake dampers, engine parts, appliances, and computer disk drives, as well as heating, ventilating, and air conditioning products. The company also provides coated material-based solutions that comprise painted, electrogalvanized protective, decorative, and functional coatings applied to coils of metals for automotive fuel tanks, building products, gaskets, appliances, and lighting fixtures. Material Sciences Corporation primarily serves customers in the automotive, appliance, building and construction, lighting, and electronic markets. The company m arkets its products, services, and technologies through sales and marketing organization, as well as through agents and licensees. Material Sciences Corporation was founded in 1971 and is headquartered in Elk Grove Village, Illinois.
Advisors' Opinion:- [By Monica Gerson]
Material Sciences (NASDAQ: MASC) is projected to report its Q2 earnings at $0.16 per share.
Blackhawk Network Holdings (NASDAQ: HAWK) is estimated to report its Q3 earnings at $0.05 per share on revenue of $210.94 million.
10 Best Dow Dividend Stocks To Watch For 2015: Internet Gold Golden Lines Ltd.(IGLD)
Internet Gold ? Golden Lines Ltd., together with its subsidiaries, provides communications services in Israel. The company offers a range of telecommunication operations and services, including domestic fixed-line, cellular and international communication services, multi-channel television, satellite broadcasts, Internet services, customer call centers, maintenance and development of communications infrastructures, provision of communications services to other communications providers, television and radio broadcasts, and supply and maintenance of equipment on customer premises. It also provides data services, server and Web site hosting services, technical maintenance and support services, networking and system services, outsourcing and out-tasking services, security and risk management solutions, and IP based services; media services, which include the sale of advertising on its Web sites; and sale of products and services on the Internet. The company was formerly known as Euronet Golden Lines (1992) Ltd. and changed its name to Internet Gold ? Golden Lines Ltd. in June 1999. The company was founded in 1992 and is headquartered in Ramat Gan, Israel. Internet Gold ? Golden Lines Ltd. is a subsidiary of Eurocom Communications Ltd.
Advisors' Opinion:- [By Garrett Cook]
On Wednesday, the telecommunications services sector proved to be a source of strength for the market. Leading the sector was strength from Internet Gold Golden Lines (NASDAQ: IGLD) and NQ Mobile (NYSE: NQ).
10 Best Dow Dividend Stocks To Watch For 2015: Arrowstar Resources Ltd (AWS)
Arrowstar Resources Ltd is a Canada-based mineral exploration company. The Company is primarily engaged in exploring for iron ore in Alaska, the United States of America. The Company's flagship propery is in the State of Alaska. The Company�� Snettisham Iron Ore (magnetite) Deposit is located on the Snettisham Peninsula on the south side of Port Snettisham and west of Gilbert Bay. The Port Snettisham property consists of 49 mineral claims 30 miles southeast of Juneau, Alaska. Its Roberts Lake consists of 128 claims in Northern Quebec along the extensive and important Ungava Bay Iron Formation. Its Rannie Lake consists of 172 claims in Labrador. Advisors' Opinion:- [By Quick Pen]
There is a very interesting aspect of Amazon�� Q2. During the quarter the company spent as much as $4.3 billion in capital expenditures and still managed to report free cash flows worth $1 billion. Even the revenue from the web service (AWS) segment showed promising growth. CEO Jeff Bezoz believes one day the segment can overshadow the retail segment revenue and claim the place of the top contributor.
10 Best Dow Dividend Stocks To Watch For 2015: MGM Resorts International(MGM)
MGM Resorts International, through its subsidiaries, primarily owns and operates casino resorts in the United States. The company?s resorts offer gaming, hotel, dining, entertainment, retail, and other resort amenities. It also owns and operates golf courses and a golf club. As of December 31, 2010, the company owned and operated 15 properties located in Nevada, Mississippi, and Michigan; and has 50% investments in 4 other casino resorts in Nevada, Illinois, and Macau. In addition, MGM Resorts International has an agreement with the Mashantucket Pequot Tribal Nation, which owns and operates a casino resort in Connecticut, to carry the ?MGM Grand? brand name. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was founded in 1986 and is based in Las Vegas, Nevada.
Advisors' Opinion:- [By Travis Hoium]
Now what: Online gaming is slowly being legalized across the U.S., with Nevada, New Jersey, and Delaware being the first to allow it. Boyd has a potentially lucrative partnership with bwin.party and MGM Resorts (NYSE: MGM ) , which could lead to huge profit growth, as I pointed out over a year ago. I wouldn't buy on this analyst upgrade alone, but the potential for online gaming is too big to ignore. I've built some estimates before (which can be seen here) and there's huge upside for both Boyd Gaming and MGM Resorts, but only if its legalized nationally. Until then, the potential for online gaming is minimal for Boyd.
Interested in more info on Boyd Gaming? Add it to your watchlist by clicking here. - [By Travis Hoium]
Las Vegas is on a comeback and MGM Resorts (NYSE: MGM ) will benefit from its growth, but this isn't the only opportunity for the company. A new resort on Cotai and the potential for online gaming in the U.S. make this an attractive stock in the gaming market. Gaming analyst Travis Hoium goes over the company's biggest opportunities in the video below.�
- [By Bradley Seth McNew]
Macau's gambling market has definitely seen less spectacular results this year than last. The major gambling companies there, including Las Vegas Sands (NYSE: LVS ) , MGM Resorts International (NYSE: MGM ) , Wynn Resorts (NASDAQ: WYNN ) , and Melco Crown (NASDAQ: MPEL ) , have each felt the sting of lowered gross gambling revenue on the Chinese island during the past two quarters as the VIP segment of gamblers has declined there.
- [By Travis Hoium]
Any thought that the Las Vegas gaming market would recover quickly after the recession has long since been lost, but there is a slow and steady recovery taking place in Sin City. High-end operators Las Vegas Sands (NYSE: LVS ) and Wynn Resorts (NASDAQ: WYNN ) have been seeing improved results as wealthy customers return to the casinos, but the lower end of the market, where MGM Resorts (NYSE: MGM ) and Caesars Entertainment (NASDAQ: CZR ) play, has been choppy to say the least.
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