What Is A Dark Pool And What Does Barclays' Misuse Of It Mean For Bank Shares?

News of the law suit from New York Attorney General Eric Schneiderman against Barclays over the bank's dark pool market raises a number of questions. Probably the most commonly cited one outside of the financial services industry was: what's a dark pool?

The idea of a dark pool is that it allows investors to be anonymous when they trade big blocks of shares. Think of it like this: you are a big institutional investor who wants to make a significant trade, but you know that doing so in public markets is going to create such waves that you lose out from the market movements that follow. A dark pool lets you do your business quietly, behind the scenes, and the price isn't announced until after it's happened.

You don't have to look too hard to see the obvious problem here: lack of transparency. So there is a school of thought that says that any institutional investor who chooses to take this route, rather than through public markets with their rafts of investor protection measures, has only themselves to blame if they found something unpleasant lurking in the darkness. But nevertheless, any law suit from a foe as powerful and influential as the New York Attorney General is bad news for a bank, particularly when it explicitly complains about the bank misleading investors: he used the words "fraud and deceit."

This is particularly unwelcome news for Barclays, which has had an absolute gut full of problems and fines and misdemeanours since the global financial crisis. Its CEO, Antony Jenkins, rose to the top by being seen as a man who won't tolerate this bad-old-days stuff and wishes to bring Barclays somewhat back towards its mainstream roots and away from the murkier corners of investment banking. He can get away with this: the law suit refers to behaviour that began in 2011, before his tenure.

But the market reaction was clear. Barclays' share price lost 6% yesterday. The Financial Times calculates that more than $13 billion was wiped off the market value of the 10 biggest dark pool owners (others include Credit Suisse, UBS and Deutsche Bank). The FT also claims that big banks have started to pull business out of Barclays' dark pool – this is the subject of today's front page – and one doesn't have to have the most photographic memory of the financial crisis to recall what happens when funds start being pulled out when confidence fails in an institution.

Clearly, loss of liquidity in a dark pool is not the same as a loss of liquidity in Barclays itself. There's no threat to the bank, just to part of its business and to its share price. But the news presents yet another challenge to investors trying to work out just what their attitude should be to bank stocks. The time to buy in earnest must surely be when investors are convinced that all of the sins of recent years have been fined, resolved, paid and consigned to the past. But six years on from the financial crisis, that day simply never seems to get any closer. Weekly, there is news of yet more markets or rates being fixed, of misbehaviour in opaque markets, of everything from currencies to precious metals to interest rate benchmarks to international sanctions being drawn into the mix of errant practices.

Clearly, then, investors should still be cautious about investment banks, because you still don't quite know what's around the corner and what fines and other penalties might be in the mail. There will be a time when all of this is digested, but it doesn't feel like it's going to be any time soon.

Nike scores a goal on Wall Street

  Nike 1, Adidas 0 NEW YORK (CNNMoney) The World Cup is not just a battle for soccer supremacy. It's also a showdown between two global brands: Nike and Adidas.

On that front, it looks like Nike just scored a goal.

Nike (NKE) shares were up nearly 2% in late-morning trading Friday after the sports apparel company's latest financial results blew past expectations.

The world's leading athletic footwear brand said late Thursday that total revenue was up 11% in the fourth quarter to $7.4 billion.

For the full fiscal year, which ended May 31, Nike reported double-digit sales growth in its largest product lines, including running, basketball and women's training.

But the company's fastest growing division was football, a.k.a. soccer.

Revenue from Nike's soccer business rose 18% in the company's fiscal year to $2.3 billion.

"Our football business has never been stronger," Nike brand president Trevor Edwards told analysts in a conference call.

Nike, which started out making running shoes, is a relative newcomer when it comes to selling soccer gear.

  World Cup retail is Christmas in June

While it is not an official World Cup sponsor, Nike is on a mission to generate as much buzz as possible at the World Cup, which is expected to break records in terms of viewership.

The Oregon-based company currently sponsors the most teams at the tournament. And there are more players in Brazil wearing Nike "boots" than all other brands combined, according to Edwards.

"Our comprehensive offense on the pitch and in the marketplace drives our leadership as the world's best football brand," said Edwards.

Nike sponsors the U.S. men's soccer team, which lost Thursday against Germany, but still scored enough points to advance to the next round of the tournament.

With Nike on offense, it seems that Germany's Adidas is playing defense, at least in the stock market.

Shares of Adidas (ADDDF), which trade in Fra! nkfurt and also have a small listing in the U.S., are down 7% since the World Cup started on June 12, though they were bouncing back Friday. Nike shares are up more than 5% over the same period of time.

Adidas has set a goal of generating 2 billion euros, or about $2.7 billion, in sales from its soccer business this year. The company will report results for the first half of 2014 in August.

This 'Rigged Market' Just Keeps Making You Money: StockTwits

NEW YORK (TheStreet) -- We're gonna keep today's wrap short and sweet, because the chart at the bottom is all that matters.

Traditional media outlets and everyone else continue to offer ad nauseum opinions about high-frequency trading -- not  thoughts on whether or not the markets are rigged, but on how rigged they are and how badly we're all getting screwed.

The stock market just keeps chugging higher, making money for buy-and-hold investors everywhere (otherwise known as "Main Street").

Excuse us as we shed no tears for the largest institutions -- many of which invested in high-frequency trading operations after noticing that their traditional source of skim (commissions) has been trending mercilessly towards zero. Please carry on as you were, offering us little guys minute price improvements on our trades and otherwise not affecting much of us at all. Chart of Day = $SPX New High Close on a breakout in breadth (Adv/Dec & Up/Down Vol) http://stks.co/r0AgT -- 361 Capital (@361Capital) Apr. 2 at 02:46 PM At the time of publication, the author held no positions in any of the stocks mentioned. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

Stock quotes in this article: ^GSPC 

Don’t Buy the Sucker’s Rally in 3D Printing Companies

Popular Posts: Don't Tread on Me – 3 Great All-American Dividend Stocks to Buy3 Things That Could Get Amazon Stock Popping AgainThe Top 10 S&P 500 Dividend Stocks for March Recent Posts: Don’t Buy the Sucker’s Rally in 3D Printing Companies Spiking Oil Prices, Rising Energy Stocks Are Headed for a Fall Oracle Stock a Buy on the Dip After Earnings View All Posts Don’t Buy the Sucker’s Rally in 3D Printing Companies

Just when shares in 3D printing companies like 3D Systems (DDD), Stratasys (SSYS) and ExOne (XONE) looked like there was no bottom in sight, their stocks reversed trend — but these names are still very much losers on the year and remain speculative bets at best.

3D printing companies represent an exciting new technology — in its very early stages. That has names like DDD stock, XONE stock and SSYS stock running on momentum, where ever-accelerating revenue growth — and hope and hype — supports the share price more than the bottom line.

Profitability, if it exists at all, can be immaterial, and that’s not necessarily a bad thing. That’s how it goes sometimes with young and promising businesses. Amazon (AMZN), famously, didn’t earn a penny in profit for years — and still doesn’t in some surprising quarters — but it’s been a tremendous stock to own over the long haul.

The problem is that most young companies don’t go on to become Amazon, and that’s where things get dicey for shares in 3D printing companies.

A number of 3D printing companies have gone on hot runs recently, and that’s stoking renewed interest in DDD stock, XONE stock and SSYS stock, the biggest 3D printing companies by market cap.

Heck, in the last month alone, DDD stock is up more than 5%, SSYS stock gained 15% and XONE stock rallied 30%.

Part of the recently renewed euphoria for shares in 3D printing companies apparently was started by a client note from Pacific Crest Securities discussing pilot programs at Amazon and Wal-Mart (WMT) for 3D printed objects.

3D Printing Companies: A Bad Bet for a Late Bull Market

That’s nice, but not much to support an extended run. After all, shares in 3D printing companies are still big losers in 2014, and its not like the headwinds holding them back have disappeared.

Lengthen the time-frame on a stock chart and you’ll see that shares in the big 3D printing companies have been portfolio death in 2014. Here’s the carnage for the year-to-date:

SSYS stock: -17% DDD stock: -39% XONE stock: -41%

As we noted earlier, shares in these 3D printing companies became victims of their own success. 3D printing companies were favorites last year, propelling shares of some of the biggest names to some dizzying heights. SSYS stock rose 128% in 2013. DDD stock gained more than 160%. XONE stock saw its shares rise 68%.

But those kinds of hot runs will stretch the valuation of any stock, and 3D printing companies were no exception. When valuations get stretched to almost 300 times forward earnings (XONE stock today), anything that calls an accelerating growth trajectory into question is going to spark a selloff.

And that’s pretty much where we sit with shares in 3D printing companies. They’re crazy expensive, meaning they have to overdeliver time and time again — at just the wrong time in the market cycle.

This late bull market is rewarding defensive sectors like utilities, not momentum names. That makes the recent upturn in 3D printing companies look more like sucker’s rally than a lasting trend.

As of this writing, Dan Burrows did not hold a position in any of the aforementioned securities.

Coach Wants to Be Michael Kors, Will Consumers Buy It?

Coach (COH) has plunged 27% this year after dropping 12% last week. Still, Wedbush’s Corinna Freedman thinks now is a perfect time to downgrade the beaten-down luxury retailers shares. The reason: It’s going to get worse before it gets better for Coach. She explains:

Bloomberg News

Following the comprehensive Analyst meeting held last week in New York City (COH's first in seven years,) we are downgrading our rating on share of COH to UNDERPERFORM from NEUTRAL as we have incremental concerns about the company's turnaround plans and while we do find some incremental positives and while we continue to hold out hope that marketing plans will be compelling, we believe the shares are likely to remain under pressure for the balance of the year. We believe it remains to be seen whether COH will be successful in changing brand perception and although its strategic initiatives touching product, marketing and stores are dramatic and bold, we are concerned about the lack of testing and ultimately customer acceptance in the near-term. We believe a more conservative stance for beyond fiscal 2015 (relative to management's long-term goals) is warranted and as such, we believe valuation is likely to further compress. Though some may argue that the guidance is 'kitchen sinked,' and somewhat de-risked, we believe that beating very conservative guidance by any magnitude, still indicates a brand in decline as the difference between guidance of a -27 – 29% North American retail comp and reporting a -20% comp may not ultimately be relevant given the continued hemorrhaging of market share. Though the timeline has been drastically extended and tangible results of the turnaround may not be evident until 2H15, a flat dividend (we do not expect any increase in FY15 or FY16) and declining in free cash flow may not be enough to satisfy longer-term holders.

Changing perception of Coach certainly won’t be cheap. Freedman notes that Coach recently switched ad agencies, hiring Michael Kors’ (KORS) Baron & Baron to head up its new campaign. Coach plans to spend about 3.4% of sales on advertising, Freedman notes, well above the 2% of sales Michael Kors spent in 2013.

Shares of Coach have dropped 2% to $34.02 at 1:41 p.m. today, while Michael Kors has dipped 0.2% to $88.43.

Davis and Snow Bought This Stock and You Should Too

The aerospace industry has received another blow with the crash of an Eurocopter AS350 in Seattle, on March 18. However, the episode had no repercussions on the stock market. As a matter of fact, Eurcopter's parent company, Airbus Group (EADSY), saw a sudden stock price increment. This counter intuitive phenomenon has many explanations. Most interestingly, it seems to point at a certain weakness on the part of competitors. In other words, competitors are expected to acquire an advantage from each other's mishaps. This particular incident challenges common knowledge and offers a good excuse to see what and how are Airbus Group's competitors performing. In this opportunity, I would like to take a look at Textron (TXT).

Acquiring Businesses, Keeping Promises and Testing New Products

The latest acquisition by Textron is Beechcraft for an estimated sum of $1.5 billion. The deal includes the type certificates to the out-of-production Hawker 4000 and Premier IA, plus support organization Hawker Beechcraft Services. Besides completing the transaction announced late last year, the company made public the merger of Cessna, Beechcraft and Hawker into a new Textron Aviation business. "Uniting these brands creates a robust industry competitor, operating as one team with a common goal to serve customers everywhere our aircraft fly," said Textron Chairman and CEO Scott Donnelly.

Another important announcement for the long term made by Textron concerns the $45 million incentive agreement the company signed with state and local governments in 2010. "We have spoken with state officials. Nothing is changing with the agreement at this time," Beechcraft spokesperson Nicole Alexander said. Questions have risen due to the merger that implies a change on the employer count. Hence, the firm is at least enticed to keep the absorbed worked force stable in order to secure the $5 million stipulated in the agreement with state officials.

Strengthening portfolio and business stability is to be reinforced by the introduction of new products. Last December, Textron announced the successful first flight of the Scorpion Intelligence, Surveillance and Reconnaissance (ISR)/Strike aircraft. "The Scorpion compares very favorably to more costly aircraft currently used for low-threat missions," pilot Dan Hinson said. The new product is expected to accommodate the budget constraints and shifting mission requirements of the US Department of Defense. The same department has granted the firm an additional contract worth $22.5 million to "deprocess" Mobile Strike Force vehicles and train the Afghan Army.

Why Did Gurus Increase Positions?

The impact of new product introductions by Textron on overall performance has been estimated by analysts at Zacks to roam around 18.5%. In addition to the Scorpion model, the Citation X, together with the Latitude and Longitude platforms are expected to hit the market between 2014 and 2017. Most importantly, the firm continues to dedicate time at improving its operational execution and cost productivity. This will guarantee operational margins, improving steadily since 2009.

An important characteristic to Textron is diversified at two levels: geography and segment. The firm's geographically diverse network of aircraft, defense and intelligence, industrial and finance businesses negates any specific business risk. That has been a key in the recovery seen since the last economic crisis. Hence, debt has been slashed to a third while revenue and net income improve yearly.

Trading at 22 times its trailing earnings, Textron's stock carries a 15% premium to the industry average. Also, the stock price is recovering the ground lost during the first half of March. This loss is small when compared to the rise in stock price registered throughout the second half of 2013. Their stock purchases confirm the strong growth prospects deposited in the firm. Given that the stock price is not expected to fall this may be one of the last opportunities to start a long-term investment for a while.

Disclosure: Vanina Egea holds no position in any of the mentioned stocks.

About the author:Vanina EgeaA fundamental analyst at Lone Tree Analytics

Visit Vanina Egea's Website

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Mid-Afternoon Market Update: Oracle Shares Fall; Shire Shares Climb

Nearing the final hour of trading on Friday, the Dow traded up 0.17 percent to 16,950.85 while the NASDAQ surged 0.07 percent to 4362.23. The S&P also rose, gaining 0.12 percent to 1961.76.

Leading and Lagging Sectors

Healthcare shares gained 0.81 percent in the US market on Friday. Top gainers in the sector included Shire plc (NASDAQ: SHPG), StemCells (NASDAQ: STEM), and Flamel Technologies SA (NASDAQ: FLML).

Telecommunications services shares dropped about 0.48 percent in trading on Friday. Top decliners in the sector included DigitalGlobe (NYSE: DGI), down 5.7 percent, and NQ Mobile (NYSE: NQ), off 3.6 percent.

Top Headline

CarMax (NYSE: KMX) reported upbeat results for the first quarter.

CarMax posted its quarterly profit of $169.7 million, or $0.76 per share, versus a year-ago profit of $146.7 million, or $0.64 per share.

Its sales climbed to $3.75 billion from $3.31 billion. However, analysts were expecting earnings of $0.67 per share on sales of $3.598 billion. Total wholesale unit sales gained 9.9%.

Equities Trading UP

Shire plc (NASDAQ: SHPG) shares shot up 16.84 percent to $223.99 after the company confirmed the rejection of Abbvie (NYSE: ABBV) bid.

Shares of CarMax (NYSE: KMX) got a boost, shooting up 16.39 percent to $52.70 after the company reported upbeat results for the first quarter. CarMax posted its quarterly profit of $169.7 million, or $0.76 per share, versus a year-ago profit of $146.7 million, or $0.64 per share.

Entegris (NASDAQ: ENTG) shares were also up, gaining 3.21 percent to $13.50 after the company lifted its second-quarter outlook.

Equities Trading DOWN

Shares of Smith & Wesson Holding (NASDAQ: SWHC) were 9.38 percent to $15.41 after the company issued downbeat forecast for the first quarter and fiscal year.

Oracle (NYSE: ORCL) shares tumbled 4.14 percent to $40.75 after the company reported weaker-than-expected fiscal fourth-quarter results. Its adjusted earnings came in at $0.92 per share, missing analysts’ estimates of $0.95 per share. Citigroup downgraded Oracle from Buy to Neutral.

Targa Resources (NYSE: TRGP) was down, falling 5.33 percent to $142.59. On Thursday, Targa confirmed that it had high level discussions to be acquired by Energy Transfer Equity, but the talks have been terminated.

Commodities

In commodity news, oil traded up 0.63 percent to $106.70, while gold traded up 0.12 percent to $1,315.70.

Silver traded up 1.27 percent Friday to $20.91, while copper rose 1.35 percent to $3.12.

Eurozone

European shares were mostly lower today.

The eurozone’s STOXX 600 declined 0.02 percent, the Spanish IBEX Index dropped 0.29 percent, while Italy’s FTSE MIB Index fell 1.03 percent.

Meanwhile, the German DAX fell 0.17 percent and the French CAC 40 declined 0.48 percent while UK shares gained 0.25 percent.

Economics

On the economics calendar Friday, there is no important data due out.

Posted-In: Earnings News Guidance Eurozone Futures Commodities M&A Economics Intraday Update Markets

© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Starbucks prices are going up

A tall latte will cost between 15 and 20 cents more after Tuesday. NEW YORK (CNNMoney) Your Starbucks latte could cost you more starting Tuesday, when the company raises the price of some of its drinks.

On average a drink will cost between 5 and 20 cents more, depending on what you order and where you're making the purchase.

The price of a tall or venti sized latte will go up by between 15 and 20 cents, for example. But the price of a grande (medium in plain-speak) sized latte won't change at all. The cost of a tall brewed coffee and any sized frappuccino won't change either.

The company estimates that the orders of fewer than 20% of its customers will be affected. The price is only changing in U.S. stores, but it will change more in some markets than others.

Starbucks is also raising the price of its packaged coffee sold in grocery stores by about 8%, beginning July 21. While retailers ultimately set the price, customers can expect to pay about $1 more per 12 oz. bag.

The change will actually bring the price back up to what it cost in April 2013, when the company cut the cost, spokesman Zack Hutson said.

He would not specify why the price hike is going into effect, but said the company considers factors like "competitive dynamics" and its overall cost structure.

  Starbucks CEO: $15 min. wage may kill jobs

Hutson said the price hike is not a knee-jerk reaction to the recent rise in coffee prices, which have skyrocketed due to a severe drought in Brazil. Starbucks buys its coffee beans ahead of time and already has enough f! or the rest of the fiscal year, and some of the next, he said.

The price hike at Starbucks (SBUX) comes about two months after J.M. Smucker (SJM) raised the price of its coffee products, including those for Folgers and Dunkin' Donuts, by 9%.

Stocks to Watch: CarMax, Darden Restaurants, Oracle

Among the companies with shares expected to actively trade in Friday’s session are CarMax Inc.(KMX), Darden Restaurants Inc.(DRI) and Oracle Corp.(ORCL)

CarMax said its fiscal first-quarter profit jumped 16% on an uptick in consumer traffic. Results beat expectations, pushing shares up 14% to $51.71 premarket.

Darden posted another period of declining sales at its Olive Garden and Red Lobster chains, while its quarterly earnings slid 35% thanks to higher costs and expenses. The casual-dining restaurant operator’s profit fell far short of market expectations, pushing shares down 4.1% to $47.47 in premarket trading.

Oracle said sales of new software licenses, a closely watched metric, were flat in its latest quarter, while its profit for the period fell 4.2% on higher expenses. Shares declined 6.4% to $39.78 premarket.

AK Steel Holding Corp.(AKS) said second-quarter results will be hurt by lower production at blast furnaces, a move the company said was necessary because ice coverage on the Great Lakes delayed the shipping season and reduced the iron-ore supply. Shares dropped 5.2% to $7.05 premarket.

Cubist Pharmaceuticals Inc.(CBST) said the Food and Drug Administration accepted for priority review the company’s new drug application for its investigational antibiotic for complicated urinary tract and complicated intra-abdominal infections. Shares rose 3.6% to $71 premarket.

Activist investor Carl Icahn said Thursday that it is imperative Family Dollar Stores Inc.(FDO) (FDO) be put up for sale immediately, and he again threatened to replace the discount retailer’s board. Shares edged up 2.1% to $69.60 premarket.

Merrimack Pharmaceuticals Inc.(MACK) and Sanofi (SAN.FR) have ended their license and collaboration agreement for the development and commercialization of Merrimack’s antibody MM-121 to treat several forms of cancer. Merrimack dropped 10% to $7.07 premarket.

Owens Corning (OC) lowered its earnings outlook for the year Friday as its roofing business continues to see weaker volumes. Shares slid 7% to $38.40 in premarket trading as the company said weakness in roofing volumes seen in the first quarter continued in April and May, dragging down its full-year expectations.

Midstream energy company Targa Resources Corp.(TRGP) said it had terminated “high-level preliminary discussions” on a potential merger with Energy Transfer Equity LP(ETE). Targa shares dropped 9.7% to $136 premarket.

Most Advisors Don’t Know Their Own Fees

Advisors are underestimating how much their clients pay them in fees.

A new survey conducted by Peak Advisor Alliance and Cerulli Associates showed that nearly 63% of advisors believe the total amount of fees charged on any given account is less than 1.5% of their investable assets ─ but, in actuality, it’s more than that.

When taking into account all fees, including product and platform fees, administrative fees and the advisor fees, the total is more than 30 basis points higher than what advisors think.

“This stat should alarm every advisor and force them to go back and look at how they are presenting their fee structure to clients,” said Ron Carson, CEO of Carson Wealth Management Group and founder of the Peak Advisor Alliance, in a statement. “As an industry, we must do a better job of simplifying a complex fee structure so clients understand the value they are receiving when they work with a financial advisor.”

According to a 2012 Cerulli Associates survey, 60% of clients do not understand how their financial advisor is charging them.

“It is imperative advisors take the time to have a comprehensive conversation about the fees they are being charged,” Carson said. “What fees are being charged is just as important to understand why the fee is being charged as well. Advisors must be transparent about the fee structure with their clients to help build trust early in the relationship.”

Carson advised transparency when it comes to fee structures.

“If a client doesn’t know or understand the fees they are being charged, they most likely will not ever fully trust their advisor, which can be toxic to the relationship in the long run,” he added.

Paul West, managing director for Peak Advisor Alliance, encouraged advisors to be straightforward instead of playing the guessing game.

“Every fund, every platform has different fees they charge, so why shy away from them?” West asked. “Advisors need to stop short-changing themselves and their clients and embrace the fees so clients better understand what services they are being charged for.”

---

Check out Fee Transparency: Why Advisors Should Tread Carefully by Bob Clark on ThinkAdvisor.

Commodities Are Building Bases and About To Rally – Steel Market

Commodities in general have been under pressure for the last couple years. This can be seen by looking at the GCC Greenhaven Continuous Commodity ETF which holds a basket of resources.

The weekly chart has formed a bullish bottom pattern, and as of last January it looks as though it's now building a basing pattern. Overall commodities are in the very early stages of a stage 1 basing pattern and it looks as though it will be a few more months before any significant breakout will occur. But there could be some early entry points if you know what to look for…

A few days ago I talked about how commodities tend to perform well near the end of a bull market in the United States stock market. I also pointed out which hot index was going to benefit from this.

Read Commodity Index Report: http://www.gold-eagle.com/article/gold-and-oil-fuel-canadian-stock-market-rally

In this article I want to bring your attention to the steel market. Using the SLX Steel ETF you can clearly see the bottoming pattern and basing pattern for this commodity.

Currently steel is underperforming the stock market and is vulnerable to lower prices. But if we see a few things come together in the coming days or weeks, this could be a screaming buy.

My technical take on steel is this:

SLX has formed a bottoming pattern from January – mid March. It has since put in a strong impulse rally to make a higher high, and is now consolidating above key support. The RSI (Relative Strength) remains in a down trend, but if this starts to rise and SLX breaks above its recent highs around the $47.75 level I feel steel will start to rally with $50 being the next major whole number and previous high for steel to find some resistance.

Also price has been riding along the 200 day moving average which is acting as support. If price closes a couple of days below the 200 moving average I would consider this to be a bearish sign.

Steel Trading Conclusion:

In short, we are looking for the relative strength to start making new highs. Also we want to see a reversal bar on the SLX chart to the upside which we got on Tuesday. Or you can wait for a breakout and close above $47-48 area. Stop would be somewhere around the $45.75 area to start, then raise it as price rallies using intraday pivot lows on the 30 minute chart.

GET THESE REPORTS DELIVERED TO YOUR INBOX FREE: www.GoldAndOilGuy.com

Chris Vermeulen
Disclaimer: I do not own shares of TAN as this point, but may buy some in the near future.

Zynga's Mobile Investments Can Take It Higher

Zynga (ZNGA) is trying hard to turnaround. Although the company's share price has declined in 2014, it looks like a good investment, primarily because of its investments in mobile. Zynga is at the forefront of an entertainment revolution. The rapid consumer adoption of smartphones and tablets is expected bring unprecedented opportunity, and games are the number one time-based use case for consumers.

In the next few years, more than 1.3 billion people are expected to be gaming on their mobile devices. By 2017, one-third the world's population is forecasted to be using smartphones and the tablet installed base is projected to cross 1 billion. Zynga is targeting this opportunity.

Zynga's moves

In addition to crossing 4 million installs, Zynga is seeing a number of early signs that FarmVille 2: Country Escape is resonating well with consumers. In the U.S., the game has achieved number one top free app and number one top free game on iPad. On iPhone, the game has achieved the top three positions in the free app and free game charts. Across the Apple platform, it has reached the number one top free app position in 20 countries, the number one top free game in 40 countries and has broken into the top 20 grossing chart on both the iPad and the iPhone in the U.S.

The primary focus of the gaming major is to always achieve category leading engagement and retention. FarmVille 2: Country Escape is already showing strong player engagement metrics compared to other Zynga games.

It has created a rich entertainment experience that matters to the mobile play patterns consumers want which is illustrated by the amount of time people are playing them.

Strong engagement with users

Zynga has witnessed strong engagement from these existing FarmVille web players, an encouraging number of new players are coming to the franchise for the first time because of Country Escape on mobile. This is believed to be an important milestone for it with focus on growing and sustaining its core franchises and demonstrates Zynga's ability to sustain its franchises over time and create mobile entertainment experiences that meaningfully engage and extend its games to new large – scale groups of consumers around the world.

At the same time, Zynga expects to deliver both breakthrough consumer experiences and profitability as it continues to align its business around focus, quality and execution. In order to achieve this, it remains focused on doing more with less and achieving more operating leverage across the organization.

Additionally, in the first quarter, Zynga reduced its technology spend by 15%, driven by restructuring and discontinuing one of its data centers. All of these changes have put Zynga in a stronger position to deliver growth in 2014 and beyond.

Conclusion

According to Yahoo Finance, the forward P/E ratio of 51.33 indicates that the stock is costly as compared to the industry's average of 17.41. However, it is better than Electronic Arts, which has a P/E ratio of 1,373.08. The PEG ratio of 5.13, above 1, depicts slower growth as compared to the industry's average of 1. Instead, its competitor Electronic Arts has an impressive PEG ratio of 0.80. The current ratio of 3.32 depicts healthy current assets. Therefore, apart from the weaknesses shown in the results above, the company is worth investing in seeing the impressive CAGR for the next 5 years of 30%, which is well above the industry's average of 18.57%. Hence, investors are advised to bet on this growth story and expect satisfactory returns in the long run.

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Congress skeptical about GM changes

  Lawmakers grill GM's Barra in D.C. NEW YORK (CNNMoney) Mary Barra had a tough time Wednesday convincing Congress that General Motors is changing fast enough to make safer cars.

The automaker's CEO testified before a House panel about the results of a company probe into the decade-long delay in recalling 2.6 million vehicles with a faulty ignition switch. The problem has been blamed for at least 13 deaths.

GM (GM) dismissed 15 employees once the probe was complete, and Barra promised the panel that the company is working to change what the report found to be "a pattern of incompetence and neglect."

"I promised we would hold people accountable and make substantive and rapid changes in our approach to recalls," said Barra. "We have done each of these things and more."

But panel members from both parties were doubtful.

"When I go through this, it looks like a lot more than 15 people should have been terminated," said Rep. Michael Burgess, a Texas Republican.

Rep. Jan Schakowsky, an Illinois Democrat, questioned why no top executive at the company was among those who lost their jobs.

"It's not clear to me that any senior level manager has been held responsible for the GM corporate culture that allowed the ignition switch defect to go unaddressed," she said.

Rep. Fred Upton from Michigan released an e-mail he said was sent by a GM employee to executives in 2005 about a problem with the ignition switch in a 2006 Impala. The car shut off when she hit a pothole.

"I think this is a serious safety problem," the GM employee wrote at the time. "I'm thinking big recall. I was driving 45 mph when I hit the pothole and the car shut off and I had a car driving behind me that swerved around me. I don't like to imagine a customer driving with their kids in the back seat on I-75 in rush hour traffic. I think you should seriously consider changing this part."

Upton pointed out that GM had not recalled that vehicle until two days ago, despite all the attention given to the similar ignition problem tied to 13 deaths. GM said it is aware of eight accidents and six injuries but no deaths tied to this latest recall.

For all kinds of problems, GM has recalled a record 20 million vehicles worldwide in 2014 -- which is only about half over.

Panel members also hammered Barra on the official tally of 13 deaths related to ! the problem. GM only counts those killed in the front seat of cars when air bags did not deploy -- not those killed in the back seat of the same fatal accidents or those killed in side-impact accidents when their cars stalled.

"GM has to rebuild trust. Part of that is being straight forward on the number of deaths that occurred," said Rep. Pete Olson, a Texas Republican.

Barra said it will be up to Kenneth Feinberg, who has been hired by GM to figure out how to compensate victims, and to determine who should be on the list of those injured and killed. She said GM's current list of 13 is not "a complete number."

"We want to get everyone who is affected," she said.

But even the GM plan to compensate victims received some criticism. Rep. Morgan Griffin, a Virginia Republican, objected to the fact that while GM is vowing compensate victims, it is still maintaining in court filings that its 2009 bankruptcy case protects itself from lawsuits from those who don't want to accept that offer.

"If GM truly wants to compensate everybody who's been harmed fully and fairly, they ought to ask their lawyers to stop asking for bankruptcy court protections," he said.

5 Best Services Stocks For 2015

IBM (IBM) announced today that it has closed a deal with SYNNEX to sell its customer care outsourcing services segment.

The deal was struck for a total of $505 million with roughly $430 million of that figure coming from cash. The deal also mandated that SYNNEX enter a multi-year agreement with IBM as partners for global customer care and outsourcing services.

SYNNEX, a Fortune 500 firm, is known for its IT supply chain services. The California-based firm trades under the ticker SNX and has seen its stock price soar approximately 60% since the middle of April.

IBM shares were up $1.62, or 0.87%, at Tuesday’s close. The stock is down just over 2% in 2013.

5 Best Services Stocks For 2015: CACI International Inc. (CACI)

CACI International Inc, through its subsidiaries, provides information solutions and services to the U.S. federal government and commercial markets in North America and internationally. The company offers enterprise information technology (IT) solutions and services for the design, development, integration, deployment, operations and management, sustainment, and security of clients� infrastructure; information solutions and services that automate the knowledge management lifecycle; and enterprise-level system solutions in the domain of procurement, financial, human capital, logistics, and supply chain management. It also offers intelligence, surveillance, and reconnaissance solutions; command and control solutions to support military, homeland security, law enforcement, border security, emergency response, and disaster relief missions; and develops and manages logistics information systems, and simulation and modeling toolsets, as well as provides logistics engineering se rvices. In addition, the company offers cyber security services that support preparing for, protecting against, detecting, reacting, and responding to the cyber threats; integrated security solutions and services for mitigating and countering the effects of natural, technological, and man-made hazards; geospatial solutions relating to defense, intelligence, homeland security, and commercial applications; and government investigation and litigation support solutions. Further, it provides healthcare IT solutions; identity management solutions; program management, and system engineering and technical assistance services to government program offices; mobility solutions and services; and planning, design, implementation, and management solutions that resolve technical or business needs for commercial and government clients in the telecommunications, education, financial services, healthcare services, and transportation sectors. The company was founded in 1962 and is headquartere d in Arlington, Virginia.

Advisors' Opinion:

• [By Wallace Witkowski]

  Shares of CACI (CACI) �fell 8.8% to $68 on moderate volume after the company trimmed its full-year earnings outlook to a range of $5.12 to $5.51 a share and its revenue outlook to a range of $3.5 billion to $3.6 billion. Analysts surveyed by FactSet are expecting $5.78 a share on revenue of $3.71 billion.

• [By CRWE]

  CACI International Inc (NYSE:CACI) reported that it has been awarded a $45 million prime contract to provide operations and maintenance support services for the National Institutes of Health�� (NIH) Oracle e-Business suite applications.

• [By Katie Spence]

  Last September, the Izz ad-Din al-Qassam Cyber Fighters successfully targeted six banks, including Bank of America and JPMorgan Chase. This attack, along with others, spurred the U.S. to invest heavily in cybersecurity initiatives such as the Department of Defense Cyber Crime Center -- which partners with Lockheed Martin (NYSE: LMT  ) and its subcontractor CACI international (NYSE: CACI  ) . In fact, analysts expect that while defense budgets are cut, cybersecurity-related spending will �increase.�

5 Best Services Stocks For 2015: View Systems Inc (VSYM)

View Systems, Inc. (View Systems), incorporated on July 25, 2003, develops, produces and markets computer software and hardware systems for security and surveillance applications. The Company has penetrated four market segments for this product: correctional facilities, judicial facilities, probation offices and federal facilities in the Mid-Atlantic States, the West Coast and the South. The Company�� products and services include ViewScan Concealed Weapons Detection System, Multi-Mission Mobil Video (MMV), ViewMaxx Digital Video System, Additional Applications and Integration of ViewScan and ViewMaxx, the MINI, Network Services, FiberXpress, Inc., Visisys Ltd. and Training and Service Programs.

ViewScan Concealed Weapons Detection System

ViewScan is sold under the name Secure Scan, is a walk-through concealed weapons detector, which uses data sensing technology to pinpoint the location, size and number of concealed weapons. This walk-through portal is controlled by a master processing board and a personal computer based unit which receives magnetic and video information and combines it in a manner that allows the suspected location of the weapon to be stored electronically and referenced. ViewScan products are distributed in three basic configurations; stand-alone units, portable units and integrated door systems. ViewScan is designed to overcome the traditional shortcomings of electromagnetic induction scanners.

Multi-Mission Mobil Video

The MMV is a lightweight, wireless camera system housed in a tough, waterproof body. The camera system sends back real-time images to a computer or video monitor at the command post located outside the exclusion zone or containment area. The MMV also uses an Extension Link which is a separate transmitter and receiving system that increases the operating range of the MMV.

The Company has incorporated a video encryption feature that allows first responders to transmit on-scene video to the command post! without the data being intercepted by unwanted parties. The MMV is fully deployed by one person in a stand-alone configuration in less than 10 minutes. The system is battery operated and can operate for eight continuous hours using one set of spare camera batteries.

ViewMaxx Digital Video System

ViewMaxx is a high-resolution, digital video recording and real-time monitoring system. This system can be scaled to meet a specific customer's needs by using anywhere from one camera up to 32 surveillance cameras per each ViewMaxx unit. The system uses a video capture card recording which translates closed-circuit television analog video data (a format normally used by broadcasters for national television programs) to a computer readable digital format to be stored on direct access digital disk devices rather than the conventional television format of video tape. ViewMaxx offers programmable recording features that can eliminate the unnecessary storage of non-critical image data.

Additional Applications and Integration of ViewScan and ViewMaxx

The Company offers integration of other products with ViewScan or ViewMaxx. Its product can be interfaced with ViewScan and/or ViewMaxx to limit individual access to an area. ViewScan and/or ViewMaxx can be coupled with magnetic door locks to restrict access to a particular area. It also offers a central monitoring or video command center for ViewScan or ViewMaxx products.

The MINI

The MINI (Mobile Intelligent Network Informer) is a portable, wireless watchdog communication device that checks for intrusion into uninhabited areas such as foreclosed houses, storage spaces and vacation homes. The MINI senses motion and sends text messages to a user's cell phone. Property and remote assets may be guarded by this device that requires no plug-in electricity, no physical phone line and no monitoring service. The MINI runs on batteries and one configuration of the system can even send a photo of the in! truder to! the user's cell phone. Camera settings can be controlled and changed via short message service (SMS) commands. It licenses the MINI from its manufacturer and acts as a distributor.

Network Services

View Systems Inc. Network Services group supplied integrated electronic security and control systems. It supplied for commercial and industrial applications throughout the Mid Atlantic area.

FiberXpress, Inc.

FiberXpress, Inc. sells specialist data network related products. It sells its products through its Internet Website.

Visisys Ltd.

During the year ended December 31, 2011, there were no revenues from this partnership. The Company's partnership with Visisys, Ltd. has been terminated.

Training and Service Programs

The Company offers support services for our products, which includes on site consulting/planning with customer architect and engineers; installation and technical support; installation and technical support, and cand. The Company's family of products offers government and law enforcement agencies, commercial security professionals, private businesses and residential consumers an enhanced surveillance and detection capacity. Its ViewScan products and technology can be used where there is a temporary requirement for real-time weapons detection devices in areas where a permanent installation is prohibitive or impractical.

A primary market for the Company's ViewScan portal is federal and state government courthouses, county and municipal buildings, and correctional facilities. The Company has installed its ViewScan weapons detection products in a variety of court house situations. The MMV product's market includes National Guard units and first response agencies such as fire, police, SWAT, and homeland security response teams.

The Company competes with Ranger Security Scanners, Inc., Garrett Electronics, Inc., CEIA SpA, Sensormatic Corporation, NICE Systems, Ltd. and Inte! gral Syst! ems.

Advisors' Opinion:

• [By James E. Brumley]

  View Systems Inc. (OTCBB:VSYM) may not be a household name, but neither was a little company called Force Protection - which sells many of the same items as VSYM - back in 2004. Seven years later, Force Protection had grown from a $40 million company to an organization General Dynamics Corporation (NYSE:GD) was willing to pay $360 million to acquire in 2011. In many ways, View Systems is on a parallel path, and investors have good reason to be optimistic.

• [By John Udovich]

  Small cap stocks Vimicro International Corporation (NASDAQ: VIMC), Cohu, Inc (NASDAQ: COHU) and View Systems Inc (OTCBB: VSYM) are also surveillance and security stocks because they�also offer products that can be used to keep an eye on us���for better or for worst. After all and go to any public space (whether its a shopping mall, entertainment venue or even a street corner), you will probably see (or maybe not see) some sort of security or surveillance equipment. With that in mind, here is a look at three small cap surveillance and security stocks you may have overlooked:

• [By John Udovich]

  Yesterday, small cap identity protection stock Lifelock Inc (NYSE: LOCK) surged 15.64% after reporting better-than-expected third quarter earnings thanks in part to playing on the security fears of consumers, meaning its probably time to take a look at it along with two other security stocks, I.D. Systems, Inc (NASDAQ: IDSY) and View Systems Inc (OTCBB: VSYM), which can also play up the fear factor:�

Hot Transportation Stocks To Own Right Now: Tiffany & Co.(TIF)

Tiffany & Co., through its subsidiaries, engages in the design, manufacture, and retail of fine jewelry worldwide. Its jewelry products include fine and solitaire jewelry; diamond engagement rings and wedding bands for brides and grooms; and non-gemstone, sterling silver, gold, and platinum jewelry. The company also provides timepieces, sterling silver goods, china, crystal, stationery, fragrances, personal accessories, and leather goods. Tiffany & Co. sells its products through retail sales, Internet and catalog sales, business-to-business sales, and wholesale distribution primarily in the Americas, the Asia-Pacific, and Europe. The company also sells its products through its stores, as well as through department store boutiques in Japan. As of January 31, 2011, it operated 233 TIFFANY & CO. stores and boutiques worldwide. The company was founded in 1837 and is headquartered in New York, New York.

Advisors' Opinion:

• [By Traders Reserve]

  Nope, people will spend as they did during the birth of The New Frugal. They��l spend the same amount, spend perhaps a little more, spend perhaps a little less, but spend on fewer, higher quality items and brands. An iPhone from Apple. A Coach leather backpack. A Tiffany (TIF) flask. A Ralph Lauren (RL) blazer from an outlet store. Or perhaps a new cooker from Williams Sonoma (WSM).

• [By Jon C. Ogg]

  Tiffany & Co. (NYSE: TIF) might not seem like a systemic stock on the surface, but Tiffany offers a clean insight into luxury spending that can translate into spending trends of so many other luxury spending. Estimates are $1.52 EPS and $1.31 billion for the period that includes Christmas. Estimates for the coming quarter are $0.80 EPS and $954.9 million in revenue. Shares are currently about $2.50 shy of its 52-week high of $94.88. Tiffany’s jewelry trades at a premium against peers, and its stock trades at a peer to most retail brands — at 21.5 times next year’s earnings estimates based on 14% earnings growth and 7.5% revenue growth.

• [By Dan Moskowitz]

  Peer comparisons
  It's clear that Zale has potential going forward, but while past performance doesn't guarantee future results, it's often a very good indicator of management capabilities. With that in mind, consider the revenue performance for Zale compared to that of�Tiffany (NYSE: TIF  ) , as well as Signet Jewelers (NYSE: SIG  ) , over the past five years:

• [By Michael Flannelly]

  Tiffany & Co. (TIF) should be able to continue to increase its market share, according to analysts at Cantor Fitzgerald. Because of this, the analysts started coverage on the fine jewelry maker with a bullish rating on Thursday.

  The analysts rate TIF as “Buy” and see shares reaching $88. This price target suggests a 15% upside to the stock’s Wednesday closing price of $76.34.

  Cantor Fitzgerald analyst Allegra Perry said, “We believe Tiffany is well positioned to continue gaining market share in one of the most fragmented and fastest growing segments within the luxury goods sector. In addition to being a structural space growth story, Tiffany�� key growth initiatives to improve store productivity and operating margins (below peak) should help drive mid-to high-teens earnings growth while potentially tripling free cashflow in the medium term on our estimates. Strong fundamentals together with the potential support from being considered a takeover target suggest a premium multiple is warranted in our view.”

  Tiffany & Co. shares were inactive during pre-market trading on Thursday. The stock is up 33.14% year-to-date.

5 Best Services Stocks For 2015: Saks Incorporated(SKS)

Saks Incorporated operates retail stores in the United States. Its stores offer an assortment of fashion apparel, shoes, accessories, jewelry, cosmetics, and gifts. The company operates stores under the brand name of Saks Fifth Avenue (SFA) that are principally free-standing stores in shopping destinations or anchor stores in upscale regional malls. It also operates Saks Fifth Avenue OFF 5TH (OFF 5TH) stores, which are primarily located in upscale mixed-use and off-price centers. As of January 28, 2012, the company operated 46 SFA stores; and 60 OFF 5TH stores. Saks Incorporated also sells its products online at saks.com, as well as through catalogs. The company was founded in 1919 and is headquartered in New York, New York.

Advisors' Opinion:

• [By Paul Ausick]

  The only earnings reports of note since last Friday came from Saks Inc. (NYSE: SKS) which is trading down 0.2% at $15.99.

  Before markets open Tuesday morning we are scheduled to hear results from Perfect World Co. Ltd. (NASDAQ: PWRD), Urban Outfitters Inc. (NASDAQ: URBN), Barnes & Noble Inc. (NYSE: BKS) which announced a new video app today, Best Buy Co. Inc (NYSE: BBY) which is included in our preview of this week�� results from retailers, Dick�� Sporting Goods Inc. (NYSE: DKS), Home Depot Inc. (NYSE: HD), J.C. Penney Co. Inc. (NYSE: JCP), and Trina Solar Ltd. (NYSE: TSL).

• [By Chris Hill]

  Hertz (NYSE: HTZ  ) dips on good-not-great earnings. Candian retailer Hudson's Bay buys Saks (NYSE: SKS  ) for $2.4 billion. Wynn Resorts' (NASDAQ: WYNN  ) second-quarter profit gets hit with one-time charges. Omnicom Group (NYSE: OMC  ) merges with Publicis Group to form the world's largest advertising and marketing firm. In this segment from Investor Beat, Motley Fool analysts Bill Barker and Andy Cross discuss four stocks making moves on Tuesday.

5 Best Services Stocks For 2015: Investment Technology Group Inc (ITG)

Investment Technology Group, Inc. (ITG), incorporated on March 10, 1994, is an independent execution and research broker that partners with global portfolio managers and traders to provide data-driven insights throughout the investment process. It operates in three segments: United States Operations, Canadian Operations, European Operations and Asia Pacific Operations. The United States Operations segment provides electronic and trade execution, trade order and execution management, network connectivity, analytical products and investment research services. The Canadian and Asia Pacific Operations segments provide electronic and high-touch trade execution, trade execution management, network connectivity, analytical products and investment research services. The European Operations segment provides electronic and high-touch trade execution, trade order and execution management, network connectivity and analytical products and includes a technology research and development facility in Israel.

ITG offers a range of solutions for asset managers in the areas of electronic brokerage, research sales and trading, trading platforms and analytics. These offerings include trade execution services and solutions for portfolio management, as well as investment research, pre-trade analytics and post-trade analytics and processing. Its principal subsidiaries include: ITG Inc., AlterNet Securities, Inc., ITG Derivatives LLC, Investment Technology Group Limited, ITG Australia Limited, ITG Canada Corp., ITG Hong Kong Limited, ITG Software Solutions, Inc. and ITG Solutions Network, Inc.

Electronic Brokerage

ITG electronic brokerage services include self-directed trading using algorithms, smart routing and matching through POSIT in cash equities (including single stocks and portfolio lists), futures and options. ITG Algorithms and ITG Smart Router offer portfolio managers and traders a way to trade orders quickly, from any ITG Execution Management System (EMS) or ITG Order Managemen! t System (OMS) and third-party trading platforms. ITG Algorithms help users pursue execution through two suites: ITG Single Stock Algorithms and ITG List-Based Algorithms. ITG Smart Router offers an alternative to routing trades that can help capture liquidity with a combination of speed and confidentiality. These routers continuously scan markets for liquidity with an emphasis on trading without displaying the order.

POSIT Alert is a buyside-only block crossing mechanism within POSIT. POSIT Alert scans uncommitted shares from participating clients. When a crossing opportunity is detected, POSIT Alert notifies the relevant users that a matching opportunity exists. POSIT Marketplace provides access to POSIT liquidity, the dark pools of other ATSs, and certain exchange hidden order types. POSIT Marketplace is a dark pool aggregator that provides clients with access to a range of liquidity destinations. POSIT Marketplace uses advanced quantitative techniques in an effort to protect clients from gaming and to interact with quality liquidity. ITG Derivatives provides electronic-listed futures and options trading, including algorithmic trading and direct market access. ITG offers options features for traders employing volatility or delta-neutral strategies and also provides low-latency application programming interfaces.

ITG offers guidance, administration, and consolidation of client commission arrangements across the range of preferred brokerage and research providers of its clients using ITG Commission Manager, a robust, multi-asset Web-based commission management portal. Through stock borrow and stock loan transactions, ITG facilitates shortened or extended settlement periods to help clients meet their internal cash flow needs.

Research Sales & Trading

ITG provides unbiased, data-driven equity research through its ITG Investment Research subsidiary. This offering has expanded ITG's client relationships beyond the trading desk to chief investment officer! s, portfo! lio managers and analysts. ITG Market Research offers market research capabilities to corporate clients within the healthcare and telecom industries. The healthcare market research practice combines survey results with empirical data to deliver syndicated and custom reporting capabilities. ITG provides high-touch sales trading and portfolio trading for institutional clients. ITG's high-touch trading desk is staffed with experienced trading professionals who provide ITG clients with execution expertise and also convey trading ideas based on ITG Investment Research.

Trading Platforms

ITG EMSs are designed to meet the needs of disparate trading styles. Triton Derivatives is a broker-neutral direct access EMS that provides traders with access to scalable, low-latency, multi-asset trading opportunities. ITG OMS combines portfolio management, compliance functionality (ITG Compliance Monitoring System), trading and post-trade processing (ITG Trade Operations Outsourcing), and a fully integrated and supported financial services communications network (ITG Net) with a consolidated, outsourced service for global trade matching and settlement (ITG Trade Operations Outsourcing) that provides connectivity to the industry's post-trade utilities, support for multiple, flexible settlement communications methods and a real-time process monitor. ITG Net is a global financial communications network that provides secure, reliable and fully supported connectivity between buy-side and sell-side firms for order routing and indication-of-interest messages from ITG and third-party trading platforms.

ITG's commitment to execution platforms also extends to broker-neutral operational services to help ensure that trades clear and settle efficiently, and to significantly lower the transaction costs associated with trade tickets. The ITG Smart Trading Analytics suite enables portfolio managers and traders to improve execution performance before the trade happens (pre-trade) and during trading ! (real-tim! e) by providing reliable portfolio analytics and risk models that help them perform predictive analyses, manage risk, change strategy and reduce trading costs. ITG Transaction Cost Analysis (TCA) offers measurement and reporting capabilities to analyze performance across the trading continuum. ITG Alpha Capture Reporting measures cost at every point of the investment process and provides portfolio managers with quarterly analytical reviews, written interpretations and on-site consultative recommendations to enhance performance.

ITG provides tools to assist asset managers with portfolio decision-making tasks from portfolio construction and optimization to the enterprise challenges of global, real-time portfolio compliance monitoring and the fair valuation of securities. ITG Portfolio Fair Value Service helps mutual fund managers meet their obligations to investors and regulators to fairly price the securities within their funds, and helps minimize the impact of market timing. ITG Portfolio Optimization System allows portfolio managers to develop new portfolio construction strategies and solve complex optimization problems. ITG Portfolio Optimization System allows users to accurately model tax liability, transaction costs and long/short objectives, while adhering to diverse portfolio-specific constraints.

Non-U.S. Operations

ITG has a development center in Tel Aviv. In Asia Pacific, ITG has offices in Sydney, Melbourne, Hong Kong and Singapore. Local representation in regional markets provides an important advantage for ITG. ITG also provides electronic and high-touch trading for Latin American equities, including algorithms for Brazil and Mexico, from its New York headquarters.

Canadian Operations

ITG Canada provides electronic brokerage services, including ITG Algorithms, ITG Smart Router and the POSIT suite, as well as high-touch agency execution and portfolio trading services. In addition, ITG Canada provides Triton, Triton Derivatives! , connect! ivity services, ITG Single Ticket Clearing, ITG Portfolio Optimization System, ITG Smart Trading Analytics, ITG TCA and investment research services. ITG Canada also engages in principal trading activities. ITG Canada's customers primarily consist of asset and investment managers, broker-dealers and hedge funds.

European Operations

ITG Europe focuses on trading European, Middle Eastern and African equities, as well as providing ITG's technologies to its clients. ITG Europe provides electronic brokerage services, including ITG Algorithms, ITG Smart Router, and the POSIT suite, as well as high-touch agency execution and portfolio trading services. ITG Europe also provides ITG OMS, Triton, connectivity services, ITG Single Ticket Clearing, ITG TCA, ITG Alpha Capture Reporting and ITG Smart Trading Analytics.

Asia Pacific Operations

ITG provides institutional investors with a range of ITG's products and services including trade execution, trade execution management through Triton, connectivity services and pre-and post-trade analysis through ITG TCA and ITG Smart Trading Analytics. Execution services are provided through electronic brokerage products such as ITG Algorithms and the POSIT suite and through an experienced high-touch agency trading services team. Other trading tools provided by ITG Hong Kong include Triton, connectivity services, ITG TCA and ITG Smart Trading Analytics. ITG Singapore provides institutional investors in Singapore with a range of ITG's products and services including electronic and high-touch execution services, trade execution management through Triton and trading analysis through ITG TCA and ITG Smart Trading Analytics.

Advisors' Opinion:

• [By victorselva]

  The Charles Schwab Corporation (SCHW) is a savings and loan holding company. The company is engaged, through its subsidiaries, in securities brokerage, banking, money management, and financial advisory services. Its subsidiaries include Charles Schwab & Co. (a leading discount broker-dealer), Charles Schwab Investment Management (a mutual fund investment advisor) and Charles Schwab Bank.In this article, let's take a look at this brokerage firm and try to explain to investors the reasons this is an apparently appealing investment opportunity.The FocusThe company provides financial services to individuals and institutional clients through two segments: Investor Services and Institutional Services. The Investor Services segment provides retail brokerage and banking services to individual investors. The Institutional Services segment provides custodial, trading, and support services to independent investment advisors. The Institutional Services segment also provides retirement plan services, specialty brokerage services, and mutual fund clearing services. The company seeks to meet the financial services needs of investors, advisers and employers. It focuses on building client loyalty with the goal of attracting new clients and serving them. Additionally, Schwab麓s strengths through shared core processes and technology advances which help create services that are scalable and consistent with the business.Interest Rates, Capital Structure and Debt-to-Capital RatioThe results are dependent on short-term interest rates, as 37% of its top line came from net interest income in the first quarter of 2014.The broker has been making significant efforts to become less dependent on interest rates, which we expect Federal Reserve will raise them in late 2014 or 2015. Also, the company麓s plan is to reach a low-cost capital structure and targets a long-term debt-to-total financial capital ratio of less than 30%.Lucrative Derivatives Trading In 2011, the company acquired Compl

• [By Jon C. Ogg]

  Investment Technology Group Inc. (NYSE: ITG) was downgraded to Market Perform from outperform by Keefe�Bruyette & Woods.

  Liquidity Services Inc. (NASDAQ: LQDT) was raised to Buy from Underperform, and the price target was raised up to $45 from $28.50, at Merrill Lynch.

Who's Getting Rich from the Alibaba Deal

The Alibaba IPO is expected to be one of the largest IPOs of all time, and some forecasts indicate that the Chinese e-commerce firm could raise as much as $20 billion in its initial public offering.

Some reports indicate that the Alibaba IPO date could be scheduled for the first week in August, but no official date has been set.

One thing is for certain, however: When Alibaba hits the market sometime in late 2014, there will be a lot of people who pocket a lot of profit.

Those following the deal have learned about the huge windfall Yahoo Inc. (Nasdaq: YHOO) is expecting through the Alibaba IPO. Yahoo owns a 24% stake in Alibaba and is expected to sell up to 50% of that stake through the initial public offering. Considering some estimates place Alibaba's value over $150 billion, Yahoo could walk away with an extra $18 billion in cash.

But Yahoo isn't the only one who will be hitting it big thanks to the Alibaba IPO. Here's who else is in line for a major payday.

$400 Million Payday for Alibaba IPO Underwriters

When companies hold initial public offerings, they hire big banks to perform the underwriting services on the deal. The underwriters help the company determine the IPO price, file the necessary paperwork, choose the right exchange, and issue shares, among other tasks.

These underwriters collect a fee for their services, which is proportional to the size of the IPO.

According to the Financial Times, the underwriters of the Alibaba IPO will be entitled to $400 million in fees, if the IPO raises the $20 billion many expect.

That $400 million will be split among the underwriting companies: Credit Suisse Group (NYSE ADR: CS), Morgan Stanley (NYSE: MS), JPMorgan Chase & Co. (NYSE:
JPM), Deutsche Bank AG (NYSE: DB), Goldman Sachs Group Inc. (NYSE: GS), and Citigroup Inc. (NYSE: C), leaving each bank with more than $66 million in fees.

But the money doesn't necessarily stop there for the underwriters...

When underwriters think an IPO might be oversubscribed (higher demand for shares than there is supply), they are allowed to purchase up to an additional 15% of the stock at the initial offer price. From there, they can sell the shares at a higher price following the IPO in what is known as a "Greenshoe" clause.

The underwriters who would like to purchase additional stock before the IPO takes place will be able to, so they'll see a nice payday after the Alibaba stock price climbs following the IPO.

For those six banks, the $66 million they receive in fees may be just the tip of the iceberg.

But the underwriters aren't the only ones who will make money off the Alibaba IPO...

Alibaba Prepares Employees for Payout

According to Reuters, Alibaba officials have been preparing employees for the influx of cash they will receive when the company hits the market.

Alibaba employees currently hold 26.7% of the company's shares, a value that could be worth as much as $41 billion. A recent Reuters survey of 25 analysts concluded that Alibaba could be valued at $152 billion at the time of its IPO.

Following the IPO, shareholding employees will be free to sell their Alibaba stock whenever they choose.

Alibaba has been preparing employees for years for the eventual IPO windfall and advising them not to spend excessive amounts of money on material goods. However, that hasn't stopped some employees from inquiring if luxury cars, like BMWs, can be ordered in Alibaba's signature orange hue.

While the size of the Alibaba IPO could be unprecedented, this won't be the first time Alibaba employees will have had the opportunity to sell shares. The company has previously allowed workers to sell parts of their stakes through structured "liquidity programs."

But the biggest profits don't have to go solely to Alibaba employees and big banks. In fact, your gains could exceed those of the IPO's original investors...

That's because we've uncovered a way for you to make a fortune on the Alibaba deal right now... long before the shares go public. It could be your one and only chance to make the kind of gains normally reserved for the high-net-worth investors and bankers. You can learn more about this Alibaba profit play here.

Do you plan on investing in Alibaba stock after it hits the market? Join the conversation on Twitter @moneymorning using #Alibaba.

AT&T Inc. to Be Exclusive Carrier of Amazon’s First Smartphone (T, AMZN)

On Tuesday morning, reports were released that AT&T Inc. (T) will be the exclusive carrier of Amazon’s new smartphone.

Amazon will reveal its new smart on Wednesday, June 18. According to reports, AT&T will the exclusive carrier for Amazon’s first smartphone. The deal is expected to attract more customers to AT&T’s service.

Apple (AAPL) and Samsung currently hold the majority share of the smartphone market, but Amazon plans to distinguish its new product. In 2007, AT&T exclusively sold the Apple iPhone giving it an advantage over Verizon (VZ).

AT&T shares were mostly flat during pre-market trading Tuesday. The stock is down 0.51% YTD.

5 Stocks With Great Operating Margin Growth — AMAT RP PHM OSTK INOC

Popular Posts: 10 Best “Strong Buy” Stocks — GMK GAME DAL and moreHottest Healthcare Stocks Now – IDIX MNKD ALNY CLDXHottest Technology Stocks Now – SYNA INFY GTAT GME Recent Posts: Hottest Energy Stocks Now – HK FGP LGCY KEG Hottest Healthcare Stocks Now – SHPG NKTR MWIV THC Biggest Movers in Financial Stocks Now – AEL FFG OZRK GHL View All Posts 5 Stocks With Great Operating Margin Growth — AMAT RP PHM OSTK INOC

This week, these five stocks have the best ratings in Operating Margin Growth, one of the eight Fundamental Categories on Portfolio Grader.

Applied Materials, Inc. () manufactures and produces equipment, software, and other products for the flat-panel display, solar, and related industries. AMAT also gets A’s in Earnings Growth, Earnings Momentum and Sales Growth. .

RealPage, Inc. () provides a platform of on demand software solutions that integrate and streamline rental property management business functions. RP also gets an A in Earnings Growth. .

PulteGroup, Inc. () sells and constructs homes, and purchases, develops, and sells residential land and develops active adult communities. PHM gets A’s in Earnings Growth, Earnings Momentum, Analyst Earnings Revisions, Earnings Surprises and Cash Flow as well. The stock has a trailing PE Ratio of 2.90. .

Overstock.com, Inc. () offers discounted brand-name merchandise for sale over the Internet. OSTK also gets A’s in Earnings Momentum, Analyst Earnings Revisions, Earnings Surprises, Equity and Cash Flow. The stock’s current trailing PE Ratio is 4.40. .

Innotrac Corporation () provides order processing, order fulfillment and call center services to large corporations. INOC gets A’s in Earnings Growth, Earnings Momentum, Equity and Cash Flow as well. The stock currently has a trailing PE Ratio of 4.90. .

Louis Navellier’s proprietary Portfolio Grader stock ranking system assesses roughly 5,000 companies every week based on a number of fundamental and quantitative measures. Stocks are given a letter grade based on their results — with A being “strong buy,” and F being “strong sell.” Explore the tool here.

Whitney Tilson's Kase Fund 2013 Annual Letter

Kase Fund Annual Letter-2013

Also check out: Whitney Tilson Undervalued Stocks Whitney Tilson Top Growth Companies Whitney Tilson High Yield stocks, and Stocks that Whitney Tilson keeps buying
About the author:Canadian Valuehttp://valueinvestorcanada.blogspot.com/

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