Facebook IPO filing: What to look for

An earlier version of this story misspelled Sheryl Sandberg�s first name. The story has been corrected.

SAN FRANCISCO (MarketWatch) � Facebook is widely believed to be readying its first initial-public-offering papers this week, with its prospective IPO looming as one of the biggest market debuts in history.

The documents to be filed with the Securities and Exchange Commission will provide investors with their first significant glimpse into the social-networking giant�s business performance, as well as at such other matters as its spending, hiring and executive pay. The Wall Street Journal reported over the weekend that the company was selecting its bankers and could make the filing as early as Wednesday.

Click to Play

Facebook's high valuation

MarketWatch columnist Mark Hulbert discusses the coming Facebook IPO in relation to valuations of other major tech and Internet companies at the time of their own stock market debuts.

Whether the filing occurs this week or later, here are some of the key points to look for in the documents:

� Revenue growth: The size of Facebook�s current business has been the source of great speculation. Documents leaked back in 2009, when the company was putting together an investment deal with Goldman Sachs GS , showed revenue of $1.24 billion for the nine-month period ending in September 2010 � up nearly 180% from the same period of the previous year. Has that ! growth r ate been maintained, or has it slowed or accelerated?


� Facebook or face-plant?
� Facebook set to evolve
� Who's friending Facebook?
� Easy money's already made
� Facebook files for $5 bn IPO
� The year of Facebook
� MW Topics: Facebook

Sales mix: FacebookFB � is thought to generate most of its revenue from online advertising, but the company also gets a cut of transactions executed over the site, such as purchases of games. Social-game maker Zynga ZNGA , whose titles include CityVille and FarmVille, reported revenue of $828.9 million for the nine-month period ended Sept. 30, 2011, and the company keeps 70% of the sales its games generate over Facebook, which implies a maximum revenue cut of about $350 million to Facebook for this period from Zynga alone. What percentage of Facebook�s revenue base is composed of ads, compared to transactions, and are there other significant revenue sources?

The bottom line: The leaked Goldman documents showed net income of $355 million for the nine-month period ended Sept. 30, 2010, compared with $43.6 million in the previous year. But Facebook has also likely had to spend heavily on network infrastructure, new technology and talent between 2009 and now. Have the ! company� s costs outpaced its revenue growth rate, and will this moderate over time?


Float and market cap: The most oft-cited number thrown around of late has Facebook going public at a $100 billion valuation. But like Groupon�s GRPN �debut last year, Facebook may choose to make a relatively small portion of its shares available in the offering. This allows the company to preserve a larger proportion of ownership for future offerings and to safeguard demand for the stock in the event that would-be investors grow skittish ahead of the offering.

Risk factors: This section of an SEC filing is often filled with boilerplate language, but it could in this case provide some insights into how Facebook sees its position in the market vis-a-vis the positions of its competitors � most notably Google GOOG , which has launched its own social network and is gunning to become a major force on the same mobile devices that Facebook needs for future growth. Does Facebook see any other companies as significant threats?

Who gets what: Some early investors take advantage of IPOs to cash out some shares. Early Facebook investors include Peter Thiel and the venture-capital firms Accel Partners, Greylock Partners and Meritech Capital. Software giant Microsoft MSFT �put $240 million into the company back in 2007. Will any executives, such as co-founder and CEO Mark Zuckerberg, Chief Operating Officer Sheryl Sandberg or Chief Financial Officer David Ebersman sell shares in the deal?

Bankers: The Wall Street Journal report indicated that banking titans Morgan Stanley MS �and Goldman Sachs GS �were vying for the coveted lead spot underwriting the deal. Which wins, and what other firms get a piece of the lucrative deal, will be a focus of great interest on Wall Street. Read related Wall Street Journal report (external link).

Counting Up Coinstar's Intangibles

Coinstar (Nasdaq: CSTR  ) carries $274.6 million of goodwill and other intangibles on its balance sheet. Sometimes goodwill, especially when it's excessive, can foreshadow problems down the road. Could this be the case with Coinstar?

Before we answer that, let's look at what could go wrong.

AOL blows up
In early 2002, AOL Time Warner was trading for $66.27 per share.

It had $209 billion of assets on its balance sheet, and $128 billion of that was in the form of goodwill and other intangible assets. Goodwill is simply the difference between the price paid for a company during an acquisition and the net assets of the acquired company. The $128 billion of goodwill in this case was created when AOL and Time Warner merged in 2000.

The problem with inflating your net assets with goodwill is that it can -- being intangible after all -- go away if the acquisition or merger doesn't create the amount of value that was expected. That's what happened in AOL Time Warner's case. It had to write off most of the goodwill over the next few months, and one year later that line item had shrunk to $37 billion. Investors punished the stock along the way, sending it down to $27.04 -- or nearly a 60% loss.

In his fine book It's Earnings That Count, Hewitt Heiserman explains the AOL situation and how two simple metrics can help minimize your risk of owning a company that may blow up like this. Let's see how Coinstar holds up using his two metrics.

Intangible assets ratio
This ratio shows us the percentage of total assets made up by goodwill and other intangibles. Heiserman says he views anything over 20% as worrisome, "because management might be overpaying for the acquisition or acquisitions that gave rise to the goodwill."

Coinstar has an intangible assets ratio of 19%.

This is below Heiserman's threshold, and a sign that most growth you see with the company is probably o! rganic. But we're not through; let's also take a look at tangible book value.

Tangible book value
Tangible book value is simply what remains after subtracting goodwill and other intangibles from shareholders' equity. If this is not a positive value, Heiserman advises you to run away because such companies may "lack the balance sheet muscle to protect themselves in a recession or from better-financed competitors."

Coinstar's tangible book value is $256.4 million, so no yellow flags here.

Foolish bottom line
Coinstar appears to be in good shape in terms of the intangible assets ratio and tangible book value. You can never base an entire investment thesis on one or two metrics, but there are no yellow flags here. If any companies you're researching do fail one of these checks, make sure you understand the business model and management's objectives. I'll help you keep a close eye on these ratios over the next few quarters by updating them soon after each earnings report.

Keep up with Coinstar, including news and analysis as it's published, by adding the company to your free, personalized watchlist.

The Inner Secrets Affiliate Program

There are numerous relatively recent services you can get today, a small handful or these seem to be very worthwhile. Some have experienced superior acceptance by users of their services and also have been growing and developing good reputations. A few these could be seen as quite outstanding, worth more attention and looking into. Amongst the relatively new services to choose from that provide training and support for people who want to make money online, there is a noteworthy newcomer referred to as the inner secrets. The Inner Secrets to making money online. The Inner Secrets that all the top 1% know but maybe only 1% of 1% of people will ever know.

The leader and power behind this growing outfit is Lindsay Osborne. Somebody who spent hundreds and numerous hours and thousands of dollars studying with the very best and after this desires to pass that knowledge and the unique insights onto other people to market and accelerate their success.

What the inner secrets provides to its growing number of clients is introduces the Inner Secrets behind successful online marketing strategies that really do make money online..

Beginning with solutions to create cash fast, a strong inbuilt affiliate system and long-term support training and powerful web marketing systems.

Allow me to explain about each of those features in turn.

When many people try to begin with generating income online the main problem is that the financial resources are slow in the future in. This will really put stress on their self belief. In knowing they can make money online. The Inner Secrets Fast Cash system will really get people in the black asap and give them that boost of confidence needed to begin with and stay the journey.

The Inner Secrets Affiliate Program is extremely well build and supported and quickly shows people a great way to make money online and. Pre prepared content and also clear instructions and support makes it simple convey to get going.

The powerful internet marketing syst! ems insi de Inner Secrets have become powerful indeed and can handle taking a newbie from basic online marketing skills at the start to advanced generating income online skills with great support, mentoring and coaching interactions every step of the way.

Before you spend one dollar on making money online be sure to get The Inner Secrets and know how to make money online right from the get goDiscover The Inner Secrets To Making Money Online

6 Common Medical Procedures You Probably Don’t Need

Anyone who has ever undergone a slew of costly and time-consuming medical procedures has probably wondered the same thing at least once: Is any of this actually worth it?

Sometimes, the answer is simply no.�Appendectomies are heading for the chopping block and it’s no secret doctors have been known to treat patients for�diseases they don’t even have.

In an eye-opening�new initiative from the ABMI Foundation and Consumer Reports,�375,000 physicians from nine leading medical organizations have developed lists of common procedures that could be a huge waste of time and resources � for doctors and patients alike.

“Many experts agree that the current way health care is delivered in the U.S. contains too much waste � with some stating that as much as 30 percent of care delivered is duplicative or unnecessary and may not improve people’s health,” ABMI says. “In fact, such unnecessary care may harm or hinder patients’ health.”

Here’s a sample of the 45 procedures (five from each organization) listed:

Brain imaging scans*

“Probably not. Research has shown that, with no evidence of seizure or other neurologic symptoms during an exam, patient outcomes are not improved with brain imaging studies.” �American College of Physicians

*[Computed tomography (CT) or magnetic resonance imaging (MRI)] performed after fainting.

Stress imaging tests for annual checkups

“Not if you are an otherwise healthy adult without cardiac symptoms. These tests rarely result�in any meaningful change in patient management.” �American College of Cardiology

Chest X-rays given to patients before they go into outpatient surgery

“If the patient has an unremarkable history and physical exam, then no. Most of the time these images will not result in a change in management and�has not been shown to improve patient outcomes.” �American College of Radiology

CT scan�or antibio! tics�for chronic sinusitis

“Most acute rhinosinusitis resolves without treatment in two weeks and when uncomplicated is generally diagnosed clinically and does not require a sinus CT scan or other imaging.” �American Academy of Allergy, Asthma & Immunology

Routine cancer screening tests*

“These�tests�do not improve survival�in dialysis patients with limited life expectancies,�and can cause false positives which might lead to harm, over treatment and unnecessary stress.” �American Society of Nephrology

*For dialysis patients who have limited life expectancies and no signs or symptoms of cancer.

Osteoporosis screenings using dual energy X-ray absorptiometry (DEXA)*

“No, research has shown that in patients with no risk factors DEXA screening is not helpful in this age group.” �American Academy of Family Physician.

*For�women under 65 or men under 70.


DrStockPick.com Stock Report! 9/14/09, BSI, NFRX, TEVE, NIMU, PER

DrStockPick.com Stock Report!

Monday September 14, 2009

Blue Square-Israel Ltd. (NYSE: BSI) announced that it was served with a claim and a request for approval as a class action (the “Claim”), in which Blue Square is being sued regarding the sale of cosmetics and perfume products without marking the expiry date or the allowed use period after its opening, as is allegedly obligatory according to the 15 amendment of the Pharmacists directive [new edition] 1981 which is in effect since July 1st 2009.

InferX Corporation (Pink Sheets: NFRX) today announced that it has signed a Memoradum of Understanding (MOU) with KG Information Systems Limited (KGiSL) part of KG Group of companies to develop solutions powered by InferX products and market to its client base in the Banking, Financial Services and Insurance (BFSI) and Healthcare sectors in the United States, India and globally.

TelVue Corporation (OTCBB:TEVE) announced the release of version 3.6 of their TelVue Princeton(TM) digital broadcast server software. According to TelVue, the version 3.6 software release contains significant improvements and several new integrated workflow features that will assist community and hyperlocal television stations maximize the value of their TelVue Princeton(TM) broadcast server.

Marvin A Sackner, M.D., Chief Executive Officer of Non-Invasive Monitoring Systems, Inc. [NIMS] (OTCBB:NIMU) announced that Drs. Miyamoto, Fujita and others from Osaka and Kyoto, Japan presented a paper entitled “Novel treatment with whole body periodic acceleration with a horizontal motion platf! orm impr oves exercise capacity, myocardial ischemia and left ventricular function” at the European Society of Cardiology (ESC) Congress in Barcelona on September 1, 2009. The Exer-Rest(R) patented technology was utilized to apply non-invasive whole body periodic acceleration [WBPA] for 45 minutes a day, 5 days a week for four weeks, a total of 20 treatments. A small dose of intravenous heparin was administered 10 to 20 minutes prior to each WBPA treatment. Thirteen patients, mean age 69 years, with advanced coronary artery disease, chronic effort angina and reduced cardiac function as measured by an ejection fraction that averaged 35% constituted the treatment group. Another 13 patients with the same characteristics, mean age 66 years, remained sedentary throughout a four week period as a control group.

Perot Systems Corporation (NYSE: PER) today announced that it will conduct a free webinar Wednesday, September 16, from 2:00-3:00 pm (CDT) on Health Information Exchanges (HIEs), providing an industry perspective and highlighting recent activities and trends. The webinar will help healthcare leaders and state officials better understand how to establish and evolve HIEs. The webinar will be hosted by Tim Quigley and Dave Marchand, leaders in the Perot Systems Healthcare group.

Dr. Stockpick Announces Daily Stock Watch - PWRM, Power 3 Medical Products Inc.

PWRM, Power 3 Medical Products Inc, PWRM.OB

Dr Stock Pick HOT News & Alerts!

Dr. Stockpick Announces Daily Stock Watch - PWRM, Power 3 Medical Products Inc.


Thursday September 3, 2009

Dr. Stockpick Announces Daily Stock Watch - PWRM

Las Vegas, NV - (WORLD STOCK WIRE / CRWENEWSWIRE) - September 3, 2009 — DrStockPick.com tracks stocks daily and is pleased to offer its hot stock alerts. Investors can receive FREE Stock Alerts by visiting DrStockPick.com at the following link: http://www.drstockpick.com.

Today�s alerts include: Power3 Medical Products, Inc. (OTCBB: PWRM).

Power3 Medical Products, Inc. (www.power3medical.com ) is a leading bio-medical company engaged in the commercialization of neurodegenerative disease and cancer biomarkers, pathways, and mechanisms of diseases through the development of diagnostic tests and drug targets. Power3 Medical operates a state-of-the-art CLIA certified laboratory in The Woodlands (Houston), Texas.


DrStockPick.com is a stock watch website that provides free daily alerts on stocks. DrStockPick.com’s alerts are daily e-mail on stocks that are hot in the market. These include stocks with huge volume, penny stocks, stocks with technical indicators and much more. DrStockPick.com also tracks small cap stocks that are on the brink of moving up! wards. D rStockPick.com also features companies on its website with research report, analysis, and newsletters.

DrStockPick.com is an independent electronic publication that provides information on selected publicly traded companies. DrStockPick.com is not a registered investment advisor or broker-dealer.

DrStockPick.com and Crown Equity Holdings, Inc., affiliates, officers, directors, contractors and employees, including may buy and sell additional shares in any company mentioned herein and may profit in the event those shares rise in value. Please do your own Due Diligence before investing in any of the stocks mentioned above.

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Release of Liability: Through use of our website, Email Alerts, and stock alerts viewing or using, you agree to hold Crown Equity Holdings, Inc., its operators, shareholders, consultants, associates and employees harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damage (monetary or otherwise), or injury (monetary or otherwise) that you may incur. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available dat! a. DrSto ckPick and Crown Equity Holdings, Inc. affiliates and associates may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. Crown Equity Holdings, Inc. encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and DrStockPick makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management’s strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statements. Therefore, you should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.

Kenneth Bosket
Crown Equity Holdings, Inc.
9663 Saint Claude Avenue
Las Vegas, NV 89148

Phone: 702-448-1543
Fax: 702-258-9007

Keep a close eye on PWRM, do your homework, and like always BE READY for the ACTION!

Investment News Briefs

This would also decrease how much money that you would should pay to moving services for helping you with cross-country moving.

ten. Seek your friends’ guidance who will often have settled inside exact same new location where you’re preparing to relocate. Their tips will end up being invaluable in scaling down your moving expenses.

The fact remains that finding an inexpensive moving company might be tedious work especially for people who do not have any understanding about them previously. It isn’t just a stressful time but it is a time when one ought to invest lot of money for moving. Obviously, people wish to save money thereby 1 ought to invest excellent deal of time on discovering correct cross nation movers. It could be stressful but maintain patience so you are able to decrease supplies or belongings about it’s feasible.

The vital factor to take into consideration is usually to pack things in a suitable and right manner so it is feasible to easily store lot of things perfectly. Always gather as a lot boxes since you can. Thus, pack each and every item and fixture or belongings meticulously and correctly. Usually do not overload the boxes as it may harm what precisely inside. The cross nation movers always charge in accordance with dimensions of consignment and packing belongings inside the special boxes can decrease large price. The moving businesses likewise have their very own boxes and one should purchase those boxes when they are offering at suitable and affordable price.

1 can possibly also method stores to obtain big boxes which have been thought to be advisable to store issues and belongings. Make sure you check out the sturdiness of boxes making certain that it is possible to store issues or belongings accordingly. These big boxes are suitable for storing up electronic gadgets and every thing which needs total care whilst moving. The x-country movers additionally have cushion bags that are ideal to keep up delicate things from it. Packing a! ll issue s in these boxes is usually much better so it assists in saving huge amount of cash.

1 can make use of newspapers to pack up things appropriately and perfectly. There are many cross-country movers that 1 can approach via on-line medium. Associated with to be able to the movers and packers quotes so somebody can purchase the perfect cost. Simply because there’s an superb competition already within the marketplace, do great study and surely one will uncover dependable and inexpensive movers.

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Best Wall St. Stocks Today: UBET

In a 13D filingon Youbet.com Inc. (Nasdaq: UBET), 9.3% holder New World Opportunity Partners disclosed they changed their filing status from 13G (passive) to 13D, saying t
hey have engaged in discussions with the company’s management and Board of Directors on business operations and future plans and the composition of the Board of Directors.

The firm said in the event it seeks representation on the Board of Directors, they may recommend Jay R. Pritzker as a potential director of the Company.


In a 13D filingon Youbet.com Inc. (Nasdaq: UBET), 9.3% holder New World Opportunity Partners disclosed they changed their filing status from 13G (passive) to 13D, saying they have engaged in discussions with the company’s management and Board of Directors on business operations and future plans and the composition of the Board of Directors.

The firm said in the event it seeks representation on the Board of Directors, they may recommend Jay R. Pritzker as a potential director of the Company.


S&P to Apple: Thanks!

Everybody has been cheering the great news that the stock market has performed brilliantly so far this year -- the best quarterly gain that the S&P 500 and Dow have clocked in 14 years, to be precise, and the Nasdaq's best in over 20 years. The market is on a roll, and has shattered even the most cheery analysts' predictions. And what is responsible for all this financial good fortune? Why, Apple (Nasdaq: AAPL  ) , of course.

Well, OK, not entirely. But Barclays contends that Cupertino has contributed 15% to the S&P's rise just by itself, and that's nothing to sneeze at. The company's nearly 50% rise in stock value in the first quarter is pretty astounding, and the 72% increase from a year ago prompted analysts to opine that the stock had carried the S&P for most of the year. Here's the kicker, though: Apple wasn't the No. 1 performer. Sears Holdings (Nasdaq: SHLD  ) holds that honor, followed by Bank of America (NYSE: BAC  ) , then Netflix (Nasdaq: NFLX  ) .

For those following the soap opera that has become Sears' claim to fame, the nearly 110% increase in the company's stock over the past three months probably confounds. Each time bad news breaks, whether it is additional store closings or yet another top executive bugging out, the stock enjoys a rally. Inexplicable, I know; the only thing that seems reasonable is that investors think there will be a big payoff when owner Eddie Lampert takes the company private. Meanwhile, the roller-coaster ride continues.

Bank of America's 72% stock rise over the past three months still has the company's shares trading shy of $10 (and still well under book value), so there wasn't a lot of value accumulated during that time. Between the bank's exposure to the foreclosure market, the robo-signing debacle and losing! custome rs over the $5-per-month debit card fee that never was -- well, let's just say it's been a tough year.

Netflix, of course, suffered a precipitous drop in its share value after the Qwikster incident -- a customer relations gaffe from which it still has not recovered. Even though the change never took place, investors are obviously still wary. Now, there is some evidence that there may be a Qwikster redux on the horizon, so the 66% value increase experienced during the past quarter may vaporize soon.

Percentages don't always tell the whole story
Of course, Apple's rise was steadfast, building on its business savvy and great, desirable products -- and not from sinking so low that even minor gains became magnified in importance. If I had lots of money and wanted a sure bet, I'd probably pick Apple as an investment vehicle -- though I might consider Netflix, as well, but not until this weird Qwikster-redo is sorted out.

While it was very sporting of Sears, B of A and Neflix to help the S&P reach its recent lofty heights, it is always important to remember that sometimes, the numbers don't tell the whole story. Astounding gains over a short period of time may mean a true turnaround for a company, but just as often, they don't. Keep in mind that due diligence in investing is just as important when the market is soaring as when it is snoring. And, yes, I did just make that up.

Investing always involves some risk. However, if you are partial to companies that have a great track record, don't miss this free report about some go-getters that are set to take the world by storm. Time is of the essence, so check it out now

Where Do Investors Look to Buy: NVAX, CREG, JMBA

Trends, Charts and Exclusive Opinion

Three SmallCaps that Provide Opportunity

NVAX: A Focused Pipeline on Influenza and Shingles

CREG: Changes from the OTCBB to the NASDAQ GM

JMBA: Strong Store Management Makes the Juicer Rise

First up this morning is Novavax Inc., (NVAX) http://www.novavax.com/ currently trading in the $2.59 range on 1.5 million shares daily. NVAX was trading in the $1 range a year ago and in late-April began a rally that lasted through the first week of Sept 09 and topping out in the $6 range (with a very short spike into the $8 range). NVAX dropped during Sept towards the $3 level and then found $4 in Oct. NVAX then trailed-off for the next 5-Months to its current level. NVAX has a 52-week high of $7.79 set on 09-01-09.

NVAX is a pharma-development company whose drug candidates target pandemic influenza, including H1N1 and H5N1 strains; seasonal influenza; Respiratory Syncytial Virus; and Varicella Zoster Virus that causes shingles. At this price, NVAX is a long-term (1 Yr) �Buy� consideration for me. Here�s why...

NVAX has a focused pipeline that affects two big problems: influenza and shingles. On March 24, NVAX reported positive results from Phase I of its two-phase clinical study in Mexico for its H1N1 vaccine. NVAX is now officially seeking Mexican regulatory approval to market the vaccine. The trial is being conducted at the Mexican Institute of Social Security and includes 1,000 healthy volunteers aged 18 to 64. Earlier this month, the company completed! enrollm ent of more than 3,500 volunteers for the second phase of the study. NVAX is conducting the Mexican studies in a partnership with Avimex Labs. In addition to the H1N1 vaccine trials in Mexico, NVAX has clinical trials under way in the U.S. for its seasonal flu vaccine.

NVAX 1-Year



Sign-Up for Free to Receive Future Commentary and

Trading Alerts on NVAX, CREG, and JMBA.


Next up this morning is China Recycling Energy Corporation (CREG) http://www.creg-cn.com currently trading in the $5.65 range. CREG was trading in the 50 cent range a year ago and in June of 09 found a floor at $1. CREG then began a long, steady ascent beginning in the summer which carried it to $2 in Sept. As the ascent continued, CREG found $4 at the end of 2009 and in the last 10-weeks has continued to climb into its current range. GREG switched from the OTCBB to the NASDAQ Global Market exchange on March 22. The boost is reflective in the share value.

�We expect the new listing on NASDAQ will provide greater exposure and opportunities for CREG and its shareholders,� said Mr. Guohua Ku, Chairman and CEO of CREG. It did. CREG is a long-term �Buy� cons ideration for me because of its business; recycling industrial by-products for steel mills, cement factories and coke plants in China. In FY 2009, CREG revenues increased 130% to $44.2 million, up from $19.2 Million in 2008 and in 2010 guidance, CREG management expects revenues in the range of $68-72 million.


Finally this morning is Jamba Inc., (JMBA) http://www.jambajuice.com/ currently trading in the $2.35 range on over a half a million shares daily. JMBA was trading at 50 cents a year ago. Like China Recycling, JMBA then staged a long, slow, steady climb. JMBA reached a $1 through the summer of 09, often toying with $1.25 and made a big surge in Sept-Oct above $2. The stock then dipped a little before it found a 4-Month floor at $1.75. This month, JMBA shot-up into the $2.25 to $2.50 range. JMBA has a 52-week high of $2.48 set on 03-24-10 with current trailing twelve month revenues of $301+ million. Buy at the high? JMBA, because of its store management strength, is a Short-term (6 Mo) �Buy� consideration for me.

The best news coming from its recent Q4 ended December 29, is that JMBA opened one new franchise store and one new company-owned store, bringing the store count to 739 stores system-wide, of which 261 are franchise stores and 478 are company-owned stores. JMBA management also provided some guidance; the Company intends to complete refranchising of up to 150 company-owned stores started in 2009. A�notes:�Investors might see JMBA�as a cyclical venture so remember, juices sell a lot in the summer.��

If you'd like to receive further updates and any changes in our opinions of NVAX, CREG, and JMBA,�be sure to Sign-Up for the SCN Newsletter today! It's FREE.

Quick & Powerful Marketing: Twitter Advertising

Due to the Web you may now get the possibility to promote numerous products and solutions. Through the use of Twitter advertising you may help market place your web web pages and blogs. You’ll find numerous tools you could get entry to that should generate site visitors, Twitter is among them.

The rather initially issue you require to complete is actually create a tweets account which can be free of charge. Twitter offers their service to many hundreds throughout the planet, that makes it much easier to seek out targeted prospects to both sign up for your business possibility or perhaps invest in a item. You’ll want the variety relationships which will generate site visitors and enhance affiliate commissions.

By making use of Twitter advertising you happen to be capable to create relationships making mates much easier since it is a social network. A great start will be to expose by yourself which will make it easy for you to create totally new mates. Once you gained their trust you may commence to provide services and products.

You should interact along with your followers, by replying to all feedback that people make. Having conversations can be a terrific solution to it is an ideal time. By socializing and making them definitely sense necessary you can get a significantly better response for your very own tweets. It’s also critical which you send tweets often and make all of them intriguing and educational. You could also contain your websites in your profile, so when men and women head over to your person profile page they will head over to your web pages.

Twitter marketing should not be completed too typically. It really is extra necessary for connecting along with your followers initially and speak to them extra. The higher the mates which you aid to create by way of Twitter the higher you may market place your possibility.Assure which you choose an Identity that relates for your organization or web-site, this can attract individuals with comparable inter! ests.

By comprehension how to use Tweets marketing adequately you can get astounding final results.Stick to individuals with comparable interests and determine how they use tweets successfully which will aid advertise your business too.

Self-Support Advertising: Self-support platforms do the job on a mutually advantageous partnership amongst entrepreneurs and Twitter buyers. Advertisers pay for an advertisement, which then will get tweeted by users who get compensated for marketing brands they want to assist. These “Content content Creators” or perhaps “Writers”are matched in an effort to acceptable advertisers, and tweet their preferred message to their followers.

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Every day 24/7 will look at widely traded stocks that hit 52-week lows

Transmeta (TMTA) Down from a one-year high of $2.37 to $.72. Company licenses intellectual property for chips. Quarterly sales went from $13.3 million last year to $2.4 million in the latest quarter. Net loss moved from $2 million to almost $15 million. Surprising the stock isn’t lower.

AVANIR Pharma (AVNR) Company is having revenue recognition issues. Not much cash on the balance sheet. The company’s major drug continues to be delayed. The stock has a 52-week high of $18.14 and closed at $1.86.

PRA Intl. (PRAI) Down from a 52-week high of $32.22 to close at $20.06. Clinical development company had a fall of in earnings from $7.5 million last year to $5.7 million in the most recent quarter.

Corus Bancshares (CORS). Condo and redevelopment loan operation has been taking higher than usual write-offs. Had an annual high of $33.74. Now sits at $18.56.

Fremont General (FMT). Was $24.13 within the last 12 months. Now $8.18. Sub-prime mortgage lender is delaying filing of latest quarter and annual results.

Office Depot (ODP) Down from a year high of $46.52 to $36.62. Slow revenue sales and a fourth quarter miss on EPS.

Micron Technology (MU) High for the last year of $18.65, now at $11.86. Memory chip company is seeing huge drop in prices for it NAND flash products. Market obviously doesn’t see recovery soon.

McClatchy Newspapers (MNI). Down from $56.12 high for last 12 months to $37.37. Wall St. thinks newspapers are dying business and MNI made the mistake of buying more when it purchased most of Knight-Ridder.

Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.

Dell Reserves $100 Million to Settle SEC Case (DELL, INTC, AMD)

After the markets closed yesterday, Dell Computer Inc. (NASDAQ: DELL) announced that the company had recorded a $100 million liability in its first fiscal quarter of 2011, ended April 30, 2010, “to establish a reserve for the potential settlement by the company of the previously reported SEC investigation.” The investigation began in 2005 and is believed to be tied to an investigation into anti-competitive practices by Intel Corp. (NASDAQ: INTC). The SEC action against Intel alleges that the chip maker broke anti-trust laws by offering large cash rebates to computer makers that used its processors. The alleged rebates were supposedly paid to stem computer maker purchases of chips from Intel rival Advanced Micro Devices, Inc. (NYSE: AMD).

The attorney general of New York filed suit against Intel in November 2009, alleging that the chip maker paid Dell Computer $6 billion in rebates between February 2002 and January 2007. Intel has denied the charges, countering that any rebates were merely a way for the company to meet competitor pricing.

The announcement reveals clearly that Dell’s chairman/CEO Michael Dell is the central figure of the SEC investigation and is alleged to have run afoul of “negligence-based fraud provisions” of US law in the company’s relationship with Intel. In its announcement yesterday, the company said the $100 million also includes a potential settlement of the charges against Dell himself.

The presiding direct of Dell Computer’s board noted that Michael Dell “will continue to lead the company as its Chairman and CEO, and he continues to have our complete confidence and support.”

Dell Computer has revealed little about the investigation in the five years since it started. In fact, the company did not reveal the fact of the SEC inquiry until 2006, a year after it commenced. The company conducted its ! own inte rnal investigation which it completed in 2007. According to The Wall Street Journal, that internal inquiry showed that “senior executives and other employees manipulated company accounts to hit quarterly performance goals.”

While publicly available details are scarce, the broad outlines are here and it’s a pretty sure thing that the SEC had the details. Given that, the SEC probably forced Dell either to settle or face the charges in public. If that was the choice, $100 million probably seemed cheap.

Gold Soars 13% in November

The precious metal is living up to its name and then some.

After hitting an all-time high of almost $1,188 an ounce last week, December gold futures closed Monday at $1,181.10, ending a month in which it gained 13%. The monthly performance was the best since November 2008.

The gains weren’t due to a few big days of buying. Instead, gold prices rose in all but three sessions this month, reports Marketwatch.com, which notes that gold futures, up 33% this year, have risen in 17 of the past 20 weeks.

Ongoing weakness in the dollar, central bank purchases and investor sentiment all are playing a role in rising gold prices.

The SPDR Gold Trust ETF (GLD) was recently up 0.5% to $115.63.

Best Wall St. Stocks Today: INTC,NVDA

How will today�s big architecture news from Intel (INTC) affect shares of NVIDIA (NVDA)?  While the AMD-copying angle is certainly headline-worthy, also of importance to NVDA shareholders is the fact that have a sense for Intel�s plan now. 

NVDA shares have recently traded down over fears about what Intel might be planning, and getting some real news out there might actually help the stock.  Clarity is always useful, and at least now we know � Intel is hoping to layer its own graphics processors (Nvidia�s bread & butter) right onto their multi-core CPU�s, effectively doing an end-run around NVDA. 

Again, everyone knew that Intel was going to beef up its discrete graphics chip business, which has historically lagged well behind both Nvidia and ATI (ATI was acquired by AMD last year).  It was just a matter of how much muscle Intel would put behind it, and what kind of timetable investors could expect.

So far the muscle variable seems big, and the timetable could have production starting in the second half of 2008, putting any major product launches into the early 2009 area.  So far NVDA has isolated itself as the winner in the high-end markets, but the question remains of whether they can compete with a motivated Intel. 

This fact, along with poor releases for both of NVIDIA�s near-term growth drivers (the PS3 and Microsoft Vista), has pushed the stock down to $29.21, and is now down about 20% so far in 2007.  The stock may have been due for a breather after hitting fresh all-time highs late last year, but lingering concerns have kept the attractive valuation (16x forward earnings, .9 PEG) from propping up the share price. 

Today�s news could signal the end of the hidden con! cerns fo r NVDA shares and allow valuation to be a central theme going forward.  We proposed a break-up value for the company that would suggest upside from today�s levels. 

Of course, if Intel fails in this most recent attempt to invade NVDA�s core market, it could always become a potential suitor for the company again. 

Ryan Barnes

March 29, 2007

Medicaid Proposal in California Could Boost Managed Care

A proposal to move Medicaid recipients in California into managed care programs could be a big opportunity for some public managed care companies, Barclays analyst Joshua Raskin wrote in a note.

“The total managed care opportunity in California is significantly larger than our previous estimates. We now see a total of $32.1 billion of incremental managed care revenues by 2015, which is much higher than our previous estimate $14 billion (which centered solely on the Dual-eligibles [Medicare and Medicaid]).”

Migration of membership could be completed by 2015, if the proposal is approved.

The proposal is still at the legislative stage, but looks promising for HealthNet (HNT), Molina Healthare (MOH) and WellPoint (WLP) in particular, Raskin wrote.

Great Cheap Stocks To Invest In 2014

One of the hallmarks of improved investor sentiment is when folks are willing to pay ever greater premiums for equities in expectation of future profit growth. And since the market started rallying from its early March lows, it's clear that sentiment seems to be improving, at least in certain corners of the market.

One indicator of improved sentiment is the rise in forward price-to-earnings multiples. Forward P/E is derived by dividing a company's share price by analysts' average estimate for future earnings per share; for the 500 stocks in the Standard & Poor's 500 Index ($INX), this ratio has risen to 16 from 13 in March, according to The Wall Street Journal Market Data Group.

Such growth is a clear indication that investors are starting to shake off the shock of last year's meltdown and have regained some appetite for risk, says Hank Smith, the chief investment officer of equity at Haverford Investments in Haverford, Pa.


As risk appetite grows, Smith says, many bigger, "safer" shares have been left in the dust; that's keeping a lid on the Dow Jones Industrial Average ($INDU). The forward P/E on this bastion of the bluest of blue-chip stocks is less than 14, down from nearly 18 in March, according to Dow Jones Indexes. In other words, as the broader market has gotten more expensive, the Dow has become cheaper.

Such low valuations could lead one to believe that the Dow is just chock-full of blue-chip bargains. In some cases, that's true. But sometimes cheap stocks are a steal, and sometimes they're cheap for a reason.

Here is a look at the Dow's cheapest stocks, as measured by forward P/E, including an assessment as to whether these inexpensive bets are likely to become investor darlings or dogs in the next 12 to 18 months.

Great Cheap Stocks To Invest In 2014:ClickSoftware Technologies Ltd. (CKSW)

 ClickSoftware Technologies Ltd. provides workforce and service management software products and solutions. It offers service optimization suite of solutions, including ClickSchedule that enables companies to optimize service scheduling and routing; ClickAnalyze, which provides reporting, monitoring, and service business analytics; ClickMobile that offers wireless workforce management for monitoring field workforce activities and reducing the labor of dispatching personnel; and ClickLocate that captures the location information of a field service engineer and vehicle, and integrates it with ClickSchedule for use in optimized scheduling. The company?s service optimization suite also includes ClickContact that enables self-service appointment booking, order updating, automatic customer notifications, and customer satisfaction surveying; ClickRoster, which provides interactive and automated workforce shift planning; ClickPlan that offers workforce planning for staffing and deployment of the field workforce; and ClickForecast, which provides field service workload forecasting to companies. In addition, it offers installation, maintenance, repair, and consulting and support services that encompass order management, optimized scheduling, and operational reports for small and mid-sized companies; and Service Tycoon, a Web-based software-as-a-service application for small and medium sized service businesses. ClickSoftware Technologies serves organizations in the utilities and energy, telecommunications, retail, insurance, high-technology, computer and office equipment, industrial equipment, medical equipment, building automation, public security, and home services sectors. The company sells its products through direct sales force located in North America, Europe, and the Asia Pacific region, as well as through reseller agreements with partners. ClickSoftware Technologies was founded in 1979 and is based in Petach Tikva, Israel.

Great Cheap Stocks To Invest In 2014:Helios Advantage Income Fund Inc. (HAV)

 Helios Advantage Income Fund, Inc. is a close ended fixed income mutual fund launched and managed by Brookfield Investment Management Inc. The fund invests in the fixed income markets of the United States. It invests a majority of its assets in below investment grade debt securities, which are bonds rated Ba1 or lower by Moody's Investors Service, Inc., BB+ or lower by Standard & Poor's Ratings Group. The fund benchmarks the performance of its portfolio against the Barclays Capital U.S. Corporate High Yield Index and the Barclays Capital Ba U.S. High Yield Index. It was formerly known as RMK Advantage Income Fund, Inc. Helios Advantage Income Fund, Inc. was formed on November 8, 2004 and is domiciled in the United States.

Great Cheap Stocks To Invest In 2014:China Valves Technology Inc. (CVVT)

 China Valves Technology, Inc., through its subsidiaries, engages in developing, manufacturing, and selling low, medium, and high-pressure metal valves for customers in the electricity, petroleum, chemical, water, gas, nuclear power station, and metal industries in China. The company?s product categories include high pressure and high temperature valves for power station units; valves for long distance petroleum and gas pipelines, and sewage; special valves for chemical lines; and large valves for water supply pipe networks. Its products comprise gate, globe, check, throttle, butterfly, ball, safety, water pressure test, vacuum, and extraction check valves. The company markets its products through regional agents and distributors. China Valves Technology, Inc. has a strategic cooperation frame agreement with Dongfang Electric Corporation for the development of high-end valves. The company was founded in 2007 and is headquartered in Kaifeng, the People's Republic of China.

Advisors' Opinion:

  • By Robert Hsu At 2011-9-13

    China Valves Technology (NASDAQ: CVVT) recently announced that its subsidiary, Able Delight Valve,  has been certified as a qualified supplier of China Nuclear Power Engineering. This is CVVT’s second subsidiary to receive this certification.

    This is a nice milestone for the company as CVVT continues to gain market share in the nuclear power industry. The demand for nuclear power applications is growing but the inspection of prospective suppliers is strict — and the company believes that the addition of Able Delight as a qualified supplier will become another catalyst for rapid growth in the near future. CVVT is a buy under $10.50.

Great Cheap Stocks To Invest In 2014:China North East Petroleum Holdings Limited (NEP)

 China North East Petroleum Holdings Limited engages in the exploration and production of crude oil in northern China. As of December 31, 2010, it operated 295 producing wells with proven reserves of 5,476,200 barrels of crude oil at Qian?an 112, Hetingbao 301, Daan 34, and Gudian 31 oilfields. The company, through its subsidiary, Song Yuan Tiancheng Drilling Engineering Co., Ltd., provides contract land drilling and other oilfield services for state-owned and non-state-owned oil companies. China North East Petroleum Holdings Limited is headquartered in Song Yuan City, the People?s Republic of China.

Great Cheap Stocks To Invest In 2014:Investors Real Estate Trust (IRET)

 Investors Real Estate Trust, a real estate investment trust (REIT), engages in the ownership and operation of income-producing real estate properties in the United States. It owns multi-family residential properties and commercial office, medical, industrial, and retail properties located primarily in the upper midwest states of Minnesota and North Dakota. As of April 30, 2008, the company operated a real estate portfolio of 72 multi-family residential; 65 office; 48 medical; 17 industrial; and 33 retail properties. Investors Real Estate Trust has elected to be taxed as a REIT under the Internal Revenue Code of 1986. As a REIT, the trust is not subject to federal corporate income taxes, if it distributes at least 90% of its taxable income to its shareholders. The company was founded in 1970 and is headquartered in Minot, North Dakota with additional offices in Minneapolis, Minnesota, and Omaha, Nebraska; and Kansas City, Kansas, and St. Louis, Missouri.

Great Cheap Stocks To Invest In 2014:BGC Partners Inc. (BGCP)

 BGC Partners, Inc. operates as a financial intermediary to the financial markets specializing in the brokering of various financial products. It provides electronic marketplaces, including government bond markets, spot foreign exchange, foreign exchange options, corporate bonds, and credit default swaps in various financial markets through its eSpeed- and BGC Trader- branded trading platform which can be accessed through its high speed data network, over the Internet, or third party communication networks. The company?s brokerage services include trade execution, broker-dealer services, clearing, processing, information, and other back office services, as well as cover various products, including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures, and structured products. It also provides financial technology solutions, market data, and analytics related to financial instruments and markets. In addition, the company offers customized screen-based market solutions, which enables its clients to develop a marketplace, trade with their customers, issue debt, trade odd lots, access program trading interfaces, and access its network and intellectual property. Further, it licenses intellectual property portfolio and software solutions to various financial markets participants; and provides software development, software maintenance, customer support, infrastructure, and internal technology services to support electronic trading platforms. The company serves banks, broker-dealers, investment banks, trading firms, hedge funds, governments, investment firms, professional trading firms, futures commission merchants, and other professional market participants and financial institutions in the United States, the United Kingdom, France, Asia, Europe, Africa, the Middle East, and other Americas. The company was founded in 1999 and is based in New York, New York.

Great Cheap Stocks To Invest In 2014:EarthLink Inc. (ELNK)

 EarthLink, Inc. provides communications services to individual and business customers in the United States. It operates in two segments, Consumer Services and Business Services. The Consumer Services segment offers Internet access and related value-added services. It provides dial-up Internet and narrowband access, broadband access, and voice-over-Internet-protocol services, as well as value-added services that include products for protection, communication, and performance, such as security products, premium email only, home networking, email storage, and Internet call waiting. This segment offer its products and services primarily through its call centers, search engine marketing, affinity marketing partners, resellers, and marketing alliances. The Business Services segment offers integrated communications services, such as secure IP-based networks, virtual private networks, Internet access, local telephone and long distance services, enhanced services, access trunks, private line services, asynchronous transfer mode/frame relay services, and mobile data and voice services, as well as installation, managed network, remote access, and disaster recovery services. It also provides wholesale services comprising broadband transport services, including private line, Ethernet private line, and wavelength services; local communications and local dial tone communications services; live and automated operator, and directory assistance services; and dedicated Internet access services and direct connectivity. In addition, this segment leases server space and provides Web hosting services that enable customers to build and maintain an online presence, including domain names, storage, mailboxes, software tools to build Web sites, e-commerce applications, and 24/7 customer support. This segment offers its services through direct sales, and independent dealers and sales agents. The company was founded in 1994 and is headquartered in Atlanta, Georgia.

Advisors' Opinion:

  • By Vatalyst At 2! 011-10-2 2

    Shares are trading at $6.50 at the time of writing, as against their 52-week trading range of $6.04 to $9.29. Earnings per share for the last year were $0.45, and it paid a dividend of $0.20, yielding 3.10%.

    Earthlink has shown tremendous growth in its internet and telephonic connectivity markets lately. But is this growth soon to blow out? In a market that is dominated by the larger companies, At&T (T), Verizon (VZ), and even AOL (AOL), it is hard to see that these three will allow too much trampling on their markets by the far smaller Earthlink. Gross margins at At&T, Verizon, and Earthlink are similar at around 58%, and there is not much difference in the resultant operating margins, either (15.5%, 17.5%, and 18.5%, respectively). Dividends are twice covered by earnings at AT& T and Earthlink, and marginally covered by earnings at Verizon. If the sector develops into a price war, AT&T’s dividend of yield of 6%, and undemanding price to earnings ratio of 8.39 will be more attractive to investors, and easier to achieve. Switch from Earthlink into AT&T.

Rosenberg: Buy Stocks Post-Correction

Gluskin Sheff’s David Rosenberg writes this morning in a note to clients that equity investors will have “significant buying opportunities ahead” as stocks are starting to correct for prices that had risen way ahead of fundamentals. Stocks were pricing in 5% U.S. GDP growth in 2010, which couldn’t last, writes Rosenberg.

“It’s not just about the economic backdrop, it’s about what’s being priced in — that’s the lesson,” writes Rosenberg, referring to the 17 times forward P/E lately on projected S&P earnings.”

As for gold, Rosenberg says it’s become a crowded trade, but that it can still rise to $3,000 before the secular bull market in the precious metal ends.

Gold ended down $15.22 at $1171.78 per ounce.

Abercrombie: The “Worst Appears Over,” Says Analyst

Abercrombie & Fitch (ANF) has struggled so far in 2012, rising about 1.6% before today, versus a 19% jump for the S&P Retailing Index. The company’s fourth quarter results were disappointing and the company appeared to be carrying too much inventory.

But Brean Murray Carret analyst Eric Beder thinks Abercrombie has turned a corner, leaving its problems in the past.

“We believe strong February and March results have allowed Abercrombie to materially improve their inventory positions. One of our major fears was that the company would continue to underperform under the weight of an over 40% increase in inventory per square at the end of 4QFY12. With record warm weather in March, we are seeing the return of out of stocks on key seasonal items such as denim, and material progress on clearing out left over winter goods.”

A turnaround in sales could have an outsize ? on the stock, because it has been so beaten-down. It is “by far” the cheapest among its peers, trading at 9.6 times.

“Frankly, this situation makes no sense to us and reflects what we view as exaggerated belief in an unproven turnaround (and new management) at American Eagle (AEO) and the Street ?penalty? on Abercrombie & Fitch for missing 4QFY12 and being too aggressive in their FY13 initial guidance.”

Beder raised his rating to Buy and upped his price target to $65.

Abercrombie shares rose 5% to $52.10 in afternoon trading.

Best Wall St. Stocks Today: DNDN

All eyes are on Dendreon Corporation (DNDN) today and their shares have been halted ahead of their meeting with the FDA. Their shares were trading at $5.22, so what’s the big deal about anyway?
After spending 10 years and $400 million to develop and test its prostate cancer drug, Seattle-based Dendreon today faces the next-to-last hurdle.
An advisory panel for the U.S. Food and Drug Administration will decide whether to recommend approval of the drug, Provenge, evaluating whether the drug is both safe and
effective. So what’s to gain? Money baby, lots of money.

The Good:
- Dendreon is the only Seattle biotech company with a potential blockbuster drug, meaning that analysts project annual sales could reach $1 Billion.
- It’s the first treatment of its kind against cancer and one of the only drugs targeting late-stage prostate cancer patients .
- Provenge’s side effects, including fever and chills, are generally fewer than chemotherapy drugs

The Bad:
- There is conflicting data from Dendreon’s clinical trials. One study of 127 patients with advanced, metastatic prostate cancer did not meet its goal, which was to delay the time toward progression of the disease.
- Two clinical trials didn’t achieve their stated goal of delaying the disease’s progress, but a long-term statistical analysis suggests that patients receiving the treatment lived longer than others.
- The company is enrolling patients for a final study that won’t produce results until 2010. The FDA might request to see that data before approving the drug.

Dendreon shares have climbed 41% in the last 5 days and experts are saying their drug has a 50/50 chance of getting the green light from the FDA. Gentlemen, place your bets.


More Marriages Cross Race, Ethnicity Lines

Marriage across racial and ethnic lines has reached a new high in the U.S. amid fading social taboos in an ever more diverse society.

About 15% of new marriages in the U.S. in 2010 were between individuals of a different race or ethnicity, more than double the share in 1980, according to a report released Thursday by the Pew Research Center. Among those married in 2010, 9% of whites, 17% of blacks, 26% of Hispanics and 28% of Asians married outside their ethnic or racial group.

"Intermarriage in this country has evolved from being illegal to being a taboo to being merely unusual," said Paul Taylor, the Pew official who edited "The Rise of Intermarriage" report. "With each passing year, it becomes less unusual."

Shifts in behavior, attitudes and demographics—including immigration—have contributed to the intermarriage trend, which the report analyzes based on historical data and Census Bureau figures from the annual American Community Survey from 2008 to 2010.

Enlarge Image

Michal Czerwonka for The Wall Street Journal

Alex and Kristine Smith with their 8-month-old daughter Holly at their California home this week.

In particular, attitudes have changed markedly since the Supreme Court declared antimiscegenation laws unconstitutional in 1967. U! ntil the n, whites were still banned from marrying nonwhites in 16 states.

When Kathy Christie Hernandez, who is Caucasian, married her Mexican-American husband, Don, in 1987, "we didn't feel like groundbreakers," recalled Ms. Hernandez, 48 years old. "We were two Stanford students who met and fell in love."

But when she stops to think, Ms. Hernandez can't immediately name another mixed couple among their peers. Indeed, intermarriages represented only 4% of all existing marriages 25 years ago.

By the time Kristine Smith, a Filipino-American, married Alex, a Caucasian, in 2008, mixed marriages had doubled to 8% of the total. By 2010, they accounted for 8.4% of all existing marriages, says the report.

Enlarge Image


Mrs. Smith's parents, Benjamin and Conchita Feleo, met and married in California after emigrating from the Philippines in the 1970s. The Feleos have maintained strong ties to the Philippines and their social life revolves around Filipino associations.

But their 32-year-old daughter says, "I never thought of limiting myself to marrying another Filipino or Filipino-American. I have friends who are everything."

The University of California graduate met her husband, an engineer from Texas, in 2004, through personal ads on the Internet. They are now settled in La Habra, Calif., with two young children. Ms. Smith said her only sibling, a sister named Kayreen, is dating a white man.

"R ising interracial-marriage rates suggest men and women of different races are more likely than in the past to come into contact with each other as coequals in the same neighborhoods, schools and work settings," said Daniel Lichter, a Cornell University sociologist who studies intermarriage.


  • A Storyteller Is Seen With New Eyes

The ascendancy of interracial marriage is partly fueled by the wave of immigration in recent decades, with U.S.-born offspring of Hispanics and Asians entering adulthood, said Mr. Lichter.

Younger adults, especially those under the age of 30, tend to have a more positive view of intermarriage than older adults, according to a Pew survey that is part of the report. College graduates are much more likely to regard intermarriage positively than those with only a high-school diploma.

Of the 275,500 intermarriages in 2010, 43% were white-Hispanic, 14.4% were white-Asian, 11.9% were white-black and the rest were other combinations. Mixed couples are most likely to reside in the Western states, where 22% of all newlyweds between 2008 and 2010 found a partner outside their group.

More than four out of 10 marriages in Hawaii were mixed, the highest intermarriage rate of any state. Vermont had the lowest rate of intermarriage, 4%.

New Mexico boasted the biggest prevalence of white-Hispanic marriages, or 20%. Rates of white-Asian marriages are highest in Hawaii, Washington, D.C. and Nevada. The top three states for white-black unions are Virginia, North Carolina and Kansas, which have rates of about 3%.

Mixed couples are as likely as those in non-mixed marriages to be college educated and their ages at marriage are also similar. Both Hispanic and black men and women who marry whi! tes are more likely to be in a union where both partners are college-educated than those who marry in their group.

As intermarriage has climbed, the rate of outmarriage among Asians has declined, most likely because the pool of people who are members of the same group and of marrying age has swelled. The share of Asian newlyweds who married outside of their group dropped to 28% in 2010 from 31% in 2008.

Jen Kim and Jason Ma, U.S.-born children of Korean immigrants who married last year, weren't looking for a fellow Korean-American to wed when they met in New York five years ago.

In fact, "Jason was the first Korean I ever dated," recalled Ms. Kim, 33, who is an art conservator. Mr. Ma, who is a reporter, says he had dated both Asian and white women.

Being from the same group means "it's convenient when our parents meet and when it comes to eating [Korean] food," said Mr. Ma.

Write to Miriam Jordan at miriam.jordan@wsj.com

Theta key to at-the-money premium values

The clich� says none of us can avoid death and taxes. For option traders there are two things that are certain: Death and theta. The smart option trader must use theta wisely to be a success.

Time Decay

Theta is a measure of the rate of decline in the value of an option due to the passage of time, according to Investopedia. As the amount of time until expiration decreases, so does the value of the option, assuming all other pricing factors are held constant. This is intuitive when one considers that options with less time until expiration have less practical use to a trader. Therefore, as each day passes, the option has less use, and consequently less value.

While this is a detriment to option buyers, it is a bona fide benefit to option sellers. Though the short option player retains the risk of volatility (in terms of gamma and vega) time always helps.

Theta Optimization

All thetas were not created equal. First, shorter-term at-the-money (ATM) options have higher option thetas than their longer-term counterparts. Traders looking to squeeze the most juice out of their options find it in these shorter-term plays.

Next, ATM options have a higher theta than in-the-money (ITM) options or out-of-the-money (OTM) options. At-the-moneys are meatier in terms of time value, but that also means they must lose value at a faster rate.

Word to the Wise

While it seems obvious to sell the shortest-term ATM option to eke out the most theta, the risks can increase with these options as well. Short-term ATMs also have the highest gamma. That means stock volatility has more of an adverse effect on these options than their alternatives. Plus, selling ATMs provides less of a buffer than out-of-the-money options.

This article originally appeared on Traders Reserve.

For more information contact dan@markettaker.com or visit http://markettaker.com.

Aut hor and options educator Dan Passarelli is the founder of Market Taker Mentoring LLC. Dan has more than 17 years’ experience in the options industry and has worked as both a floor trader and an options instructor.

Best Chinese Stocks To Hold In 2012

China has been a hot bed for investors for a few years now, and most of the easy money seems to have been made. In fact, investors who bought into the China 25 Index (FXI) in Oct 2004 are up over 100% in 30 months.

Since my last analysisof the China opportunity last December, FXI is up 20% in 6 months - a stellar performance. But investors that are finally opening up to China or those that have taken profits along the way might wonder which companies to invest in. After all, it seems like there are new China stocks and ADR's sprouting up every time you look. Here are some stocks that I believe are sound Chinese investments that I believe will outperform the overall market over the next 12 months.

Best Chinese Stocks To Hold In 2012:Suntech Power Holdings Co. LTD. (STP)

 Suntech Power Holdings Co., Ltd., a solar energy company, engages in the design, development, manufacture, and marketing of photovoltaic (PV) products. The company also provides engineering, procurement, and construction services to building solar power systems for certain related party and third party customers. Its products include monocrystalline and multicrystalline silicon PV cells; PV modules; and building-integrated photovoltaics products. In addition, the company provides PV system integration services, including designing, installing, and testing PV systems used in lighting for outdoor urban public facilities, as well as in farms, villages, and commercial buildings; and project development services. Its products are used to provide electric power for residential, commercial, industrial, and public utility applications. The company sells its products through value-added resellers, such as distributors and system integrators; and to end users, such as project developers primarily in Germany, Italy, Spain, France, Benelux, Greece, the United States, Canada, China, the Middle East, Australia, and Japan. Suntech Power Holdings Co., Ltd. is headquartered in Wuxi, the People?s Republic of China.

Advisors' Opinion:

  • By Curtis At 2012-2-22

    Suntech Power Holdings Co., Ltd.(NYSE: STP) closing price in the stock market Tuesday, Jan. 3, was $2.35. STP is trading -3.28% below its 50 day moving average and -46.49% below its 200 day moving average. STP is -78.30% below its 52-week high of $10.83 and 38.24% above its 52-week low of $1.70. STP‘s PE ratio is 30.52 and its market cap is $424.30M.


    Suntech Power Holdings Co., Ltd. is a solar energy company, engages in the design, development, manufacture, and marketing of photovoltaic (PV) products. STP also provides engineering, procurement, and construction services to building solar power systems for certain related party and third party customers.

Best Chinese Stocks To Hold In 2012:Home Inns & Hotels Management Inc. (HMIN)

 Home Inns & Hotels Management Inc. develops, leases, operates, franchises, and manages a chain of economy hotels in the People?s Republic of China. The company operates its hotels under the Home Inn brand name. As of April 28, 2011, it had approximately 800 Home Inns in operation and 1,000 Home Inns sealed in franchise agreements. The company was incorporated in 2001 and is headquartered in Shanghai, the People?s Republic of China.

Advisors' Opinion:

  • By Conrad At 2012-1-29

    Home Inns & Hotels Management (HMIN) is the largest hotel chain in China. Growth is as easy as opening new hotels … the cookie-cutter growth model. The company has no debt, unlike most hotel chains, and profit margins were 19.6% in the latest quarter.

Best Chinese Stocks To Hold In 2012:Sohu.com Inc. (SOHU)

 Sohu.com Inc., through its subsidiaries, engages in the brand advertising, online gaming, sponsored search, and wireless businesses in China. Its brand advertising business provides advertisements on its portal Websites to companies to enhance brand awareness online; and online gaming business involves in the development, operation, and licensing of multi-player online role-playing games. The company?s sponsored search business provides placements in its search directory, as well as pay-for-click services for primarily small and medium-sized enterprise customers; and wireless businesses offers value-added services, such as news, weather forecast, chatting, entertainment information, ring tones, and logo downloads to mobile phone users. Sohu.com Inc. aggregates content for various channels, which cover news, sports, entertainment, business and finance, women, automobile, and information technology; online video content; and communication and community tools, such as alumni clubs, blogs, email, message boards, Web messenger, and social networking services. Its Web properties include sohu.com, a mass portal and online media destination; 17173.com, a games information portal; focus.cn, a real estate Website; chinaren.com, an online alumni club; and sogou.com, an interactive proprietary search engine. The company was formerly known as Internet Technologies China Incorporated and changed its name to Sohu.com Inc. in September 1999. Sohu.com Inc. was founded in 1996 and is headquartered in Beijing, the People?s Republic of China.

Best Chinese Stocks To Hold In 2012:Yanzhou Coal Mining Company Limited (YZC)

 Yanzhou Coal Mining Company Limited engages in the underground mining, preparation, and sale of coal. It involves in manufacturing, washing, processing, and selling steam coal used in the electricity power sector; and metallurgical coal used with coking coal in the process of pulverized coal injection, as well as operates six coal mines. The company also engages in the provision of railway transportation services; production and sale of coal chemicals, primarily methanol; and generation of electricity and heat. In addition, it involves in the manufacture and sale of mining machinery and engine products; and development of integrated coal technology. Further, the company engages in the transportation via rivers and lakes; sale of construction materials; and trading and processing of mining machinery. It has operations primarily in China, Japan, South Korea, and Australia. The company was founded in 1973 and is based in Zoucheng, the People's Republic of China. Yanzhou Coal Mining Company Limited is a subsidiary of Yankuang Group Corporation Limited.

Best Chinese Stocks To Hold In 2012:China Telecom Corp Ltd (CHA)

 China Telecom Corporation Limited, together with its subsidiaries, provides wireline and mobile telecommunications services in the People's Republic of China. The company?s services include wireline voice, mobile voice, Internet, managed data and leased line, value-added services, integrated information application services, and other related services, as well as prepaid calling cards. Its wireline voice services include local wireline services, domestic long distance wireline services, and international long distance wireline services. The company's mobile voice services comprise local calls, domestic long distance calls, international long distance calls, intra-provincial roaming, inter-provincial roaming, and international roaming. Its Internet access services consist of wireline Internet access services, including dial-up and broadband services, and wireless Internet access services. The company's integrated information application services include Best Tone services, which provide customers with phone number storage, enquiry, and call transfer services; and information technology-based integrated solutions, such as system integration, outsourcing, special advisory, information application, knowledge services, and software development. Its managed data and leased line services consist of services relating to optic fiber and circuits, such as optic fiber and circuit leasing, virtual private network, and bandwidth leasing. The company also offers other services, such as sales, rental, repairs, and maintenance of equipment; and provides consulting services, and e-commerce and booking services, as well as in the sale of telecommunications terminals. It serves government, enterprise, and residential customers. The company was founded in 2002 and is based in Beijing, the People's Republic of China. China Telecom Corporation Limited is a subsidiary of China Telecommunications Corporation.

Best Chinese Stocks To Hold In 2012:HSBC Holdings plc (HBC)

 HSBC Holdings plc provides various banking and financial products and services. Its Personal Financial Services group offers current and savings accounts, mortgages and personal loans, credit and debit cards, and payment services; wealth management services comprising insurance and investment products, and financial planning services; and consumer finance. The company?s Commercial Banking group provides overdrafts, receivables finance, term and syndicated loans, acquisition and project finance, and asset finance; payments and cash management services, including payments and collections, liquidity management, and account services; international trade products and services, such as export finance, guarantees, documentary collections, and forfeiting; and treasury services comprising foreign exchange, derivatives, and structured products. This group also offers capital markets and advisory services; commercial cards; insurance products; and online and telephone banking services. The company?s Global Banking and Markets group provides treasury and capital markets services comprising foreign exchange; currency, interest rate, bond, credit, equity, and other derivatives; government and non-government fixed income and money market instruments; precious metals and exchange-traded futures; equity services; capital markets instruments; and securities services, including custody and clearing services, and funds administration. This group also provides financing, advisory, and transaction services; and asset management services to government, corporate and institutional clients, and private investors. Its Global Private Banking group provides private banking, wealth management, and wealth solutions to high net worth individuals. HSBC operates through a network of approximately 7,500 offices in 87 countries and territories worldwide. The company was founded in 1865 and is headquartered in London, the United Kingdom.

FOREX-Euro rallies on Greek vote but lacks conviction – Reuters

Trading Point
FOREX-Euro rallies on Greek vote but lacks conviction
* Euro advances on Greek parliament vote relief * Hurdles remain ahead of euro zone finance ministers' meet * Voluntary private sector involvement a worry By Anirban Nag LONDON, Feb 13 (Reuters) – The euro rose on Monday on relief that Greece's
WORLD FOREX: Euro Holds On To Gains But Market Watchers CautiousWall Street Journal
Forex Flash: EUR/USD could see 1.15 year-end � UBSNASDAQ
Morning Forex FundamentalAction Forex
Trading Point -Economic Times
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{forex} – Forex News

How to Make Your Mega Millions Last

Thanks to the millions of starry-eyed dreamers, the Mega Millions Lottery was finally worth $656 million before the winning tickets were sold.

As I discussed yesterday, that's a fair chunk of money-- far too much to spend at once.

But it is fun to think about.

It also makes for a great discussion about how you would begin to invest such an enormous sum.

But here's the thing. Whether you have $656,000 or the entire $656,000,000 jackpot, your thinking is basically the same.

In this case, it is just a matter of scale. It may sound odd but it's true. Let me explain.

If you were lucky enough to hit the big one, here's how you might want to handle the winning ticket.

Mega Millions Decision Number One

Before you did anything, your first decision is whether to take the jackpot in a lump-sum or in annual payments.

Admittedly, after tax and discounting, Saturday's jackpot comes to only $355 million as a lump-sum, or 26 annual payments of $19 million.

The discount rate between the two is only about 2.6%, so if you think you can make more than that on your money, you should probably take it as a lump sum.

Maybe if you wanted to be very conservative on your investments, or thought the stock market was hopelessly overvalued, an annuity would be preferable.

For example, if you had won that amount in early 2000 you might have invested some of the lump sum in the dotcoms before the crash. In that case, you'd have been better off with the annuity!

But market crashes aside, generally, the lump sum looks a better deal.

Then there's the amount you are going to need for your spending spree. I discussed this yesterday suggesting that a spending spree of more than $30-40 million, spread over a year or so, would probably not make you happy and might incur costs for the future.

In particular, ! you need to be careful not to buy large items that incur running costs.

By all means buy a really nice sailboat, but a $100 million yacht or a house that requires a full staff of servants are likely to drain your resources in years to come, and could lead you eventually to ruin.

To avoid that it probably makes sense to devise a budget for how much you can spend.

If you're fairly young, ideally you would want the money after your spending spree - about $300 million-- to last you the rest of your life.

With interest rates so low and inflation a risk, that means you shouldn't plan on spending more than about $10 million a year in today's money, with spending perhaps increasing along with inflation.

That should be ample for all the toys and lifestyle you want, again provided you haven't bought Downton Abbey or equivalent in a yacht.

How to Invest Your Mega Millions Jackpot

The next thing to be clear about is that you shouldn't invest all the money in the stock market at once.

Here's why.

You don't know whether the stock market is close to a high, in which case your precious winnings will be sadly diminished by a downturn.

Instead, you should invest only 20% of the money in the stock market, split between U.S. stocks and international stocks. An additional 5% should be invested in gold or an equivalent.

And beware of the people that suddenly show up in your life.

As a lottery winner, you will besieged by offers from hedge funds, private equity funds and other mysterious investments, suggesting that you can increase your returns by investing in their funds.

Don't be tempted. At the best, you will only get returns similar to the stock market, but will pay much higher fees to get them, giving away 20% of the profits to get them.

At the worst, you will be investing in the next Bernard Madoff or Allen S! tanford. As a lottery winner who is not used to being rich, you are the absolute favorite target for such people.

If you are confident, select the stocks yourself, for at least part of the money.

If not, invest in mutual funds offered by major mutual fund management companies with low fees attached. There are several of these, but as a first pick you can't go far wrong with Vanguard funds.

Diversify between funds and investment types though - you've got the money to do so.

In any case, at least a substantial part of the stocks or funds you buy should pay substantial dividends.

The remaining 75% of your money should be invested in short-term bonds, ideally in a spread of currencies including Canadian dollars, Australian dollars, yen and euros.

Of course, in euros you should only buy the bonds of prime credits, which today means Germany, the Netherlands and Sweden.

Then each year you should invest a further 25% of your portfolio in stocks and gold, in the same way as you did initially, selling bonds to do so.

By doing this, you will have invested your money over a period of three years, which should lessen the risk of having all your money invested at the top of the market.

Three years later, you will end up with a portfolio of 40% domestic stocks, 40% international stocks and 20% gold, with your stocks overall paying dividends of at least 2-3% of their value.
(At present, dividends pay only 15% tax, so are more attractive than bond interest.)

In the long term, you may want to own some bonds, and to sell some of the gold. But you should only do so when top quality bonds yield substantially more than the inflation rate.

At present, even long-term Treasury bonds yield less than inflation, while short-term bonds yield less still.

So the bond markets should be avoided except as a place to park your money for the short-term.

But with the str! ategy ou tlined above, you'll minimize the risk of buying at the top of the market - and avoid crooks and high fees - the two biggest risks for the newly rich.

The same thing is true if you have $656,000 to invest. The only difficult factor is that you get the money all at once when you hit the jackpot.

Of course, there are a lot worse problems to have.

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