Archive for January, 2013

Optimism’s Re-Emergence Could Shake Up 2013’s Performance

Thursday, January 31st, 2013
Optimism’s Re-Emergence Could Shake Up 2013’s Performance

On Friday, March 9, we will “celebrate” the 4-year anniversary of the Great Recession’s 2009 stock market bottom. Back then, the Dow Jones Industrial Average (DJIA) was below 7,000, a level first reached in 1997. Now its back to its all-time high of about 14,000, up 100% (and that excludes dividends). What makes optimism... »

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Cyberonics – Short-Selling Creates Buying Opportunity

Monday, January 28th, 2013
Cyberonics – Short-Selling Creates Buying Opportunity

Cyberonics (CYBX) just tanked, dropping 25% in eleven days, from its all-time high of $57+ to under $43. The apparent cause? Blowing The Whistle On Cyberonics – a short-seller report that criticizes the company on many levels, including fraud. While the company countered that the report was incorrect, that rebuttal fell on deaf ears,... »

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PPG Executives’ Actions Wave Red Flag – Time To Sell

Tuesday, January 22nd, 2013
PPG Executives’ Actions Wave Red Flag – Time To Sell

Previously, in “PPG Shareholders: Beware Of Georgia Gulf Exchange Offer,” I suggested that the confusing, uncertain exchange offer carried risks that warranted saying “No.” That conclusion may seem questionable when reading PPG’s expectations. The original 7/19/12 press release, in addition to CEO Charles Bunch’s positive observations, stated that, “The transaction is highly complementary to... »

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PPG Shareholders: Beware Of Georgia Gulf Exchange Offer

Monday, January 21st, 2013
PPG Shareholders: Beware Of Georgia Gulf Exchange Offer

In my 49 years of investing, including a 30-year institutional investment career, I cannot recall seeing such a convoluted, contrived, shareholder-unfriendly corporate action. What started last year as a simple sale by PPG (PPG) of its commodity chemicals business to Georgia Gulf (GGC) for $2.1 billion has become a complicated, uncertain exchange offer –... »

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