dividends paid
ATLANTIC TELE-NETWORK $58.24 (Nasdaq symbol ATNI; TSINetwork Rating: Speculative) (340-777-8000; www.atni.com; Shares outstanding: 15.9 million; Market cap: $929.5 million; Yield: 1.8%) closed the sale of its Alltel wireless business to AT&T (symbol T on New York) late last year. As a result, it now holds cash of $407.6 million, or $24.64 a share, and has paid off its $271.1 million of debt. The company bought Alltel from Verizon Wireless for just $223 million in April 2010. Atlantic now has wireless and wireline telecom operations in the U.S. Southwest, New England, New York State, Guyana, Bermuda and parts of the Caribbean islands....
AGRIUM INC. $99 (Toronto symbol AGU; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 143.7 million; Market cap: $14.2 billion; Price-to-sales ratio: 0.9; Dividend yield 3.3%; TSINetwork Rating: Average; www.agrium.com) has suspended operations at its Vanscoy, Saskatchewan, potash mine because the main hoist system failed. Agrium will use the shutdown to speed up its plan to increase the mine’s capacity. The company expects the outage to cost $40 million (all amounts except share price and market cap in U.S. dollars). To put that in context, Agrium earned $625 million, or $4.34 a share, in the second quarter of 2014. That’s down 16.0% from $744 million, or $5.00 a share, a year earlier. Record earnings from Agrium’s retail stores, which sell fertilizers and seeds to farmers in North America, South America and Australia, offset lower bulk fertilizer prices....
TEMPUR SEALY $58.64 (New York symbol TPX; TSINetwork Rating: Speculative) (800-878-8889; www.tempursealy.com; Shares outstanding: 60.8 million; Market cap: $3.6 billion; No dividends paid) completed its $1.3-billion purchase of rival Sealy in March 2013. This was a major acquisition for Tempur Sealy (formerly Tempur-Pedic), but it has let the company diversify into traditional spring-coil beds.
The purchase is also helping Tempur Sealy offset rising competition in its current business; the company makes and distributes mattresses and neck pillows made of its Tempur material, which conforms to the body to provide support and alleviate pressure points.
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The purchase is also helping Tempur Sealy offset rising competition in its current business; the company makes and distributes mattresses and neck pillows made of its Tempur material, which conforms to the body to provide support and alleviate pressure points.
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IMPERIAL METALS $9.07 (Toronto symbol III; TSINetwork Rating: Speculative) (604-669-8959; www.imperialmetals.com; Shares outstanding: 74.9 million; Market cap: $715.9 million; No dividends paid) is down almost 42% since a dam broke at a tailings pond at its Mount Polley mine in B.C. The breach spilled wastewater and fine sand into nearby waterways.
The extent of the damage to local lakes and rivers is unknown at this point, but estimates of the total liability for the cleanup are in the range of $225 million. Imperial has just issued $100 million in convertible debentures to help pay these costs.
Meanwhile, Mount Polley will likely be shut down for at least one to two years, perhaps indefinitely. The mine is the company’s biggest producing asset and the main contributor to its cash flow. Imperial will now likely report cash flow of $0.40 a share in 2014, down from an estimated $1.05.
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The extent of the damage to local lakes and rivers is unknown at this point, but estimates of the total liability for the cleanup are in the range of $225 million. Imperial has just issued $100 million in convertible debentures to help pay these costs.
Meanwhile, Mount Polley will likely be shut down for at least one to two years, perhaps indefinitely. The mine is the company’s biggest producing asset and the main contributor to its cash flow. Imperial will now likely report cash flow of $0.40 a share in 2014, down from an estimated $1.05.
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AMAZON.COM $335.78 (Nasdaq symbol AMZN; TSINetwork Rating: Extra Risk) (206-266-1000; www.amazon.com; Shares outstanding: 462.0 million; Market cap: $154.6 billion; No dividends paid) has launched its Kindle Unlimited service for a flat $9.99 monthly fee.
Kindle Unlimited offers access to over 600,000 books that can be read at no additional cost on Kindle e-book readers, as well as over 2,000 audiobooks. Amazon is offering a free 30-day trial to entice users to try the service, which is also available using the Kindle app on a smartphone or tablet.
The new Kindle Unlimited also lets users alternate between reading and listening to their books (if those books are available as audiobooks) without losing their place.
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Kindle Unlimited offers access to over 600,000 books that can be read at no additional cost on Kindle e-book readers, as well as over 2,000 audiobooks. Amazon is offering a free 30-day trial to entice users to try the service, which is also available using the Kindle app on a smartphone or tablet.
The new Kindle Unlimited also lets users alternate between reading and listening to their books (if those books are available as audiobooks) without losing their place.
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p>ACI WORLDWIDE $19.07 (Nasdaq symbol ACIW; TSINetwork Rating: Speculative) (402-334-5101; www.tsainc.com; Shares outstanding: 113.8 million; Market cap: $2.2 billion; No dividends paid) has agreed to buy Retail Decisions (ReD) for $205 million in cash. ReD, based in Brockwood, England, is an e-commerce and fraud-prevention firm that serves the payments industry. ReD’s software, which includes ReD Shield, ReD Fraud Xchange, ReD PRISM, ReD Alerts, ReDi, ReD1 Gateway and LiveProcessor, helps customers better manage and cut losses from fraud.
ACI Worldwide is still a hold.
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ACI Worldwide is still a hold.
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ADOBE SYSTEMS INC. $71.02 (Nasdaq symbol ADBE; TSINetwork Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 497.4 million; Market cap: $35.8 billion; No dividends paid) makes a range of software that lets computer users create, edit and share documents in the popular PDF format. As well, graphic designers use its software to create print publications and web pages.
In its fiscal 2014 second quarter, which ended May 30, 2014, Adobe earned $186.3 million, up 1.9% from $182.9 million a year earlier. Earnings per share rose 2.8%, to $0.37 from $0.36, on fewer shares outstanding. Revenue gained 5.7%, to $1.07 billion from $1.01 billion.
The improved results are mainly because Adobe is signing up more subscribers to its Creative Cloud package of photo editing and desktop publishing programs. The company added 464,000 Creative Cloud customers in the quarter and currently has a total of 2.3 million. It now expects to end fiscal 2014 with 3.3 million users, up from its earlier target of 3.0 million.
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In its fiscal 2014 second quarter, which ended May 30, 2014, Adobe earned $186.3 million, up 1.9% from $182.9 million a year earlier. Earnings per share rose 2.8%, to $0.37 from $0.36, on fewer shares outstanding. Revenue gained 5.7%, to $1.07 billion from $1.01 billion.
The improved results are mainly because Adobe is signing up more subscribers to its Creative Cloud package of photo editing and desktop publishing programs. The company added 464,000 Creative Cloud customers in the quarter and currently has a total of 2.3 million. It now expects to end fiscal 2014 with 3.3 million users, up from its earlier target of 3.0 million.
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NISSAN MOTOR (ADR) $19.56 (Nasdaq symbol NSANY; TSINetwork Rating: Above Average) (310-771-3111; www.nissan-global.com; Shares outstanding: 2.3 billion; Market cap: $44.2 billion; No dividends paid) is Japan’s second-largest automaker, after Toyota.
In its fiscal 2015 first quarter, which ended June 30, 2014, the company earned 112.1 billion yen ($1.1 billion U.S., or $0.49 per ADR), up 36.7% from 82.0 billion yen ($804.4 million U.S., or $0.36) a year earlier.
Revenue rose 10.8%, to 2.47 trillion yen ($24.1 billion U.S.) from 2.23 trillion yen ($21.8 billion). That’s because Nissan sold 1.24 million vehicles in the latest quarter, up 6.0% from a year earlier.
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DELPHI ENERGY $4.27 (Toronto symbol DEE; TSINetwork Rating: Speculative) (403-265-6171; www.delphienergy.ca; Shares outstanding: 155.2 million; Market cap: $670.6 million; No dividends paid) develops, produces and explores for oil and natural gas. About 67% of its output is gas. The remaining 33% is oil.
In the three months ended June 30, 2014, the company’s production rose 36.2%, to 10,397 barrels of oil equivalent a day from 7,635 barrels a year earlier.
Cash flow per share jumped to $0.09 from $0.05. The production increase was the main reason for the gain. The company also realized higher prices for its oil and gas in the latest quarter.
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In the three months ended June 30, 2014, the company’s production rose 36.2%, to 10,397 barrels of oil equivalent a day from 7,635 barrels a year earlier.
Cash flow per share jumped to $0.09 from $0.05. The production increase was the main reason for the gain. The company also realized higher prices for its oil and gas in the latest quarter.
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BIRCHCLIFF ENERGY $11.92 (Toronto symbol BIR; TSINetwork Rating: Speculative) (403-261-6401; www.birchcliffenergy.com; Shares outstanding: 145.9 million; Market cap: $1.7 billion; No dividends paid) develops, produces and explores for oil and gas, mainly in the Peace River Arch area near the Alberta/B.C. border. About 83% of its output is gas. The remaining 17% is oil.
In the three months ended June 30, 2014, Birchcliff’s production rose 29.1%, to 31,178 barrels of oil equivalent per day from 24,141 barrels a year earlier. Cash flow per share jumped 79.3%, to $0.52 from $0.29, on the increased output and higher oil and gas prices.
In 2012, Birchcliff completed Phase III of its gas plant expansion in Pouce Coupe, Alberta. This project doubled the facility’s capacity and is letting the company bring the additional gas it is now producing to market.
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In the three months ended June 30, 2014, Birchcliff’s production rose 29.1%, to 31,178 barrels of oil equivalent per day from 24,141 barrels a year earlier. Cash flow per share jumped 79.3%, to $0.52 from $0.29, on the increased output and higher oil and gas prices.
In 2012, Birchcliff completed Phase III of its gas plant expansion in Pouce Coupe, Alberta. This project doubled the facility’s capacity and is letting the company bring the additional gas it is now producing to market.
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