Mid-Afternoon Market Update: Markets Show Strength as Prothena Shares Plummet

Related BZSUM Mid-Day Market Update: Coach Slips After Q3 Results; Orbital Shares Spike Higher Mid-Morning Market Update: Markets Rise; Merck Earnings Beat Street View

Toward the end of trading Tuesday, the Dow traded up 0.61 percent to 16,548.94 while the NASDAQ surged 0.79 percent to 4,106.63. The S&P also rose, gaining 0.51 percent to 1,878.02.

Leading and Lagging Sectors
In trading on Tuesday, energy shares were relative leaders, up on the day by about 1.41 percent. Meanwhile, top gainers in the sector included Stone Energy (NYSE: SGY), up 9 percent, and Westmoreland Coal Co (NYSE: WLB), up 7.8 percent. Industrials services shares gained by just 0.02 percent in Tuesday's trading.

Top losers in the sector included Chart Industries (NASDAQ: GTLS), Jacobs Engineering Group (NYSE: JEC), and ABB (NYSE: ABB).

Top Headline
Merck & Co (NYSE: MRK) reported a 7% rise in its first-quarter profit. Merck's quarterly profit surged to $1.71 billion, or $0.57 per share, compared to a year-ago profit of $1.59 billion, or $0.52 per share. Excluding certain items, Merck earned $0.88 per share, up from $0.85 per share Its revenue dropped 4% to $10.26 billion versus $10.67 billion. However, analysts were estimating earnings of $0.79 per share on revenue of $10.43 billion. Merck reiterated its full-year earnings forecast of $2.15 to $2.47 per share.

Equities Trading UP
Zillow (NASDAQ: Z) rose on Tuesday's session, gaining 12.13 percent to $102.15 after the a 13G filing from after the close Monday showed a 9.5 percent stake in the company from Tiger Management.

Shares of Orbital Sciences (NYSE: ORB) got a boost, shooting up 15.38 percent to $30.66 after the company and Allian Techsystems' (NYSE: ATK) Aerospace and Defense Groups agreed to combine to create Orbital ATK.

Hot Construction Companies To Buy Right Now

Banco Santander (Brasil) SA (NYSE: BSBR) shares were also up, gaining 12.46 percent to $6.50 on Q1 results. The company reported Q1 recurring net income of 1.427 billion reais ($637 million).

Equities Trading DOWN
Shares of Gogo (NASDAQ: GOGO) were 28.56 percent to $13.12 following news that AT&T (NYSE: T) intended to launch high-speed 4G in-flight connectivity service.

Prothena Corporation (NASDAQ: PRTA) shares were down as well, falling 28.00 percent to $27.13 after the company released some materials from its coming symposium presentation.

Coach (NYSE: COH) was down, falling 9.78 percent to $45.49 after the company reported downbeat quarterly sales. The company reported Q3 earnings of $0.68 per share on revenue of $1.10 billion.

Commodities
In commodity news, oil traded up 0.27 percent to $101.11, while gold traded down 0.19 percent to $1,296.50.

Silver traded down 0.38 percent Tuesday to $19.52, while copper fell 0.68 percent to $3.07.

Eurozone
European shares were higher today.

The Spanish Ibex Index surged 1.31 percent, while Italy's FTSE MIB Index rose 2.15 percent.

Meanwhile, the German DAX surged 1.48 percent and the French CAC 40 rose 0.83 percent while U.K. shares gained 0.91 percent.

Economics
The Federal Open Market Committee begins its two-day policy meeting today.

The ICSC-Goldman same-store sales index gained 1.6% in the week ended April 26 versus the prior week.

The Johnson Redbook Retail Sales Index dropped 0.3% in the first three weeks of April versus March.

The S&P/Case-Shiller home price index rose 0.76% in February, versus economists' expectations for a 0.80% gain. On a year-over-year basis, the index climbed 12.9% in February.

The Conference Board's consumer confidence index came in at 82.30 in April, versus a revised 83.90 in March. However, economists were expecting a reading of 83.00.

Posted-In: Earnings News Guidance Eurozone Futures Forex Global Econ #s Economics Intraday Update Markets Movers Tech

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

  Most Popular Market Wrap For April 28: Apple Hits New 52-Week Highs In a Volatile Start To the Trading Week Apple Issuing More Bonds to Fund Increased Buyback Amazon's 'Big Spender' Act Not Impressing Investors Financials, Futures Move Lower Following News BofA Has Suspended 2014 Capital Plan Earnings Scheduled For April 29, 2014 UPDATE: Organovo Reports Pre-Release Availability of 3D Liver Contract Services Related Articles (ABB + ATK) Mid-Day Market Update: Coach Slips After Q3 Results; Orbital Shares Spike Higher Mid-Morning Market Update: Markets Rise; Merck Earnings Beat Street View Stocks Hitting 52-Week Highs Zacks Rank #1 Additions for Tuesday - Tale of the Tape Morning Market Movers Orbital Sciences, Alliant Techsystems' Aerospace & Defense Groups to

Treasurys sell off as week of data begins

NEW YORK (MarketWatch) — Treasury prices slid Monday ahead of a slew of data releases that market participants expect to show a revival in springtime growth, after a cold winter that was blamed for temporarily choking off economic improvement.

On deck this week is a report on first-quarter gross-domestic product on Wednesday, which is forecast to show that U.S. growth slowed substantially in the first quarter. But as the winter weather thawed, more recent numbers like an April nonfarm payrolls report on Friday may show a bounce back, with activity that was delayed in the first quarter being pushed to the second quarter.

/quotes/zigman/4868283/delayed 10_YEAR 2.71, +0.05, +1.88% 10-year Treasury yield

"My belief is that we are going to receive a 'data bounce-back' due to weather tainted figures we saw in the last several months," said Thomas di Galoma, head of fixed-income rates at ED&F Man Capital Markets, in a note to clients.

The 10-year Treasury note (10_YEAR)  yield, which rises as prices fall, was up 3.5 basis points on the day at 2.702%. The benchmark yield has largely been trading within a range between 2.60% and 2.80% over the last few months, but a spurt of positive data could prompt the yield to break out of its range higher, according to di Galoma.

The 30-year bond (30_YEAR)  yield rose 4.5 basis points to 3.486% and the 5-year note (5_YEAR)  yield was up 2 basis points at 1.748%.

Treasurys mostly recovered from morning losses as stocks began selling off mid-day, but the fixed-income market once again turned lower, finishing the session near their intraday lows, as equities recovered to finish the day mostly higher .

"It's more of a stocks story," said Michael Pond, head of global inflation-linked research at Barclays.

Treasury losses had accelerated Monday morning after data showed pending home sales rose for the first time in nine months. An index kept by the National Association of Realtors rose by 3.4% in March to 97.4, up from 94.2 in February.

The surge in economic releases this week is thought to inform the market on when the Federal Reserve may begin raising its key lending rate, which could bring Treasury yields higher along with it. The central bank has said it will look at a number of indicators about the labor market's health and the level of inflation as it decides when the pace of economic growth justifies raising rates.

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Since the Fed began shifting the market's focus toward its guidance on the future path of the fed funds rate, investors have tended to price in earlier rate hikes as the economy improves, and push back expectations amid soft numbers.

"Volatility is apt to increase when economic data of interest to the Fed and markets point to potential changes in the policy outlook. Nevertheless, volatility will likely remain contained by very powerful short- and long-run forces related to the economic outlook," said Tony Crescenzi, market strategist and portfolio manager at Pimco, in a note to clients. He added that because the policy rate is likely to remain below the long-term normal in this economic cycle, investors shouldn't take a "sky is falling approach" of worrying too much about rate hikes.

Treasurys prices rose for four sessions last week as investors flocked to the safety of U.S. government debt amid fears of escalating violence between Ukraine and Russia. On Sunday, pro-Russia rebels in eastern Ukraine publicly showed western military observers who they had taken hostage. Meanwhile, the U.S. imposed new sanctions on Russia.

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Toyota stocks SpongeBob SUV with giant fish tank

LAS VEGAS -- Toyota found a fun way to make a splash at the SEMA aftermarket auto parts trade show here: fill the back of an SUV with a fully-stocked fish tank.

The 2014 SpongeBob Highlander looks like it is right out of SpongeBob SquarePants' underwater neighborhood, Bikini Bottom, as seen on the long-running Nickelodeon cartoon series. .The entire rear of the crossover SUV is an 800-gallon salt-water tank teaming with tropical finned friends. It was unveiled Tuesday at the SEMA aftermarket car parts trade show here.

The tank is huge, stretching from behind the front seats to the vehicle's rear. To see the 32 species, you just peer through the rear glass. There are 115 fish, including starfish (like the SpongeBob character, Patrick), squirrelfish, Fiji foxface, flame angel, clownfish and pilot fish.

As you might expect, there is also a fancy filtration system to try to keep them alive, at least until the trade show ends. Toyota says there is an overflow system, sterilizer, UV filter, temperature regulator and additional elements. The fish were brought to Las Vegas from Los Angeles and had two days to acclimate to the tank before going on display.

The SpongeBob theme carries throughout the interior details and the exterior wrap of the vehicle.

The tank was designed by Wayde King and Brett Raymer, who own a company called Acrylic Tank Manufacturing. They are co-stars of an Animal Planet show called Tanked and plan to feature the build on the show. They build fancy fish tanks for celebrities, luxury hotels, casinos and others.

"Brett and I love the challenge of designing aquariums in every shape and size and welcomed the opportunity to bring living art like this to SEMA," King said in a statement. "The teams at Toyota and Nickelodeon gave us great platforms in the Highlander and SpongeBob SquarePants to create something fun and inspiring for fans."

3 Internet and Web Service Stocks to Sell Now

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The overall ratings of three internet and web service stocks are down on Portfolio Grader this week. Each of these rates a “D” (“sell”) or “F” overall (“strong sell”).

Reis, Inc. () is on the decline this week, earning a D (“sell”) after receiving a C (“hold”) last week. Reis is engaged in the business of providing commercial real estate market information and analytical tools for its customers. In Portfolio Grader’s specific subcategories of Earnings Momentum and Earnings Surprise, REIS also gets F’s. At $17.33, the stock is under the 50-day moving average of $18.27. .

iPass’ () rating falls this week to an F (“strong sell”), down from last week’s D (“sell”). iPass offers enterprise mobility services on a global basis by providing services that simply, smartly and openly facilitate network access from mobile devices while providing the enterprise with visibility and control over their mobile ecosystem. The stock gets F’s in Earnings Revisions, Equity, Cash Flow and Sales Growth. .

This week, Velti’s () rating worsens to an F from the company’s D rating a week ago. Velti is a global provider of mobile marketing and advertising solutions. The stock gets F’s in Earnings Growth and Earnings Momentum. .

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

Healthcare companies scale up

This was a big week for the global pharmaceutical industry. First, rumors of one deal suggested a possible return to the industry’s old self-destructive ways. But then two other transactions were announced that signaled continuation of a newer trend that’s much healthier for shareholders.

On Monday, it was reported that New York-based Pfizer Inc. (NYSE: PFE) had been in talks to acquire AstraZeneca PLC (NYSE: AZN), headquartered in London, for over $100 billion. The companies apparently broke off the discussions.

If such a transaction were to occur, it would be the latest in a long series of megamergers that characterized the corporate strategies of Pfizer, Swiss drug giant Novartis AG (NYSE: NVS) and others in the 1990s and 2000s. Back then, the aim was to acquire rivals in multibillion-dollar deals that broadened the buyers’ businesses to cover more diseases and new health-care areas.

The catalyst for this buying binge was the so-called patent cliff, in which some of the sector’s biggest drugs faced the loss of patents that protected them from competition, resulting in reduced revenues and earnings.

Since then, however, the patent cliff problem has waned because many of those patent expirations have already occurred. And the bigger, combined companies generally have come up short on development of new blockbuster drugs. Also, excessive diversification has brought weak competitive positions in some niches.

But the current industry trend is for companies to focus more on their core strengths instead of diversifying. Pfizer, Bristol-Myers Squibb (NYSE: BMY), Johnson & Johnson (NYSE: JNJ) and Abbott Laboratories (NYSE: ABT) have made such moves over the last few years in order to focus on what they consider higher-growth prospects.

Tuesday brought more of the same. Novartis and UK-based GlaxoSmithKline (NYSE: GSK) announced more than $20 billion in deals! . Novartis is to sell its animal-drugs business to Eli Lilly (NYSE: LLY), a U.S. company, for $5.4 billion; and most of its vaccine business to Glaxo for $5.2 billion. Novartis also will buy Glaxo’s cancer-drug business for $14.5 billion.

Then on Wednesday came another announcement. Allergan (NYSE: AGN) is the target of an unsolicited takeover offer. The suitor is Valeant Pharmaceuticals International (NYSE: VRX), which has teamed up with activist investor William Ackman. If successful, the $46 billion deal would create a global giant in the eye-care and skin-care drug industries.

Montreal-based Valeant’s core strategy is to buy companies for their products, cut away research spending and then boost revenue by moving the products through Valeant’s sales force. This approach focuses more on cost savings and tax benefits than on seeking growth through scientific advances. Valeant said it sees this deal producing at least $2.7 billion in cost savings. The combined company also would benefit from a much lower tax rate than Allergan currently pays.

Before the announcement, Ackman’s Pershing Square Capital Management built a 9.7 percent stake in Allergan, valued at about $4 billion. Pershing Square is expected to maintain a stake in the combined company for at least a year. Unlike the week’s first deal, California-based Allergan is expected to oppose the offer and try to seek other alternatives. So it’s uncertain whether the transaction will occur and how long it will take.

But Valeant’s proposed deal and those involving Novartis, Glaxo and Lilly share a key theme: Focus on specific sectors where you believe you have the size and expertise to generate significant sales growth, be a market leader and build economies of scale.

Yet another healthcare deal that was announced on Thursday also embraces that approach. Zimmer Holdings, Inc. (NYSE: ZMH) agreed to buy privately held Biomet Inc. for $13.35 billion in cash and stock. Both compan! ies are l! eading providers of  orthopedic, surgical and dental products. The deal strengthens Zimmer’s hold in the global hips and knee market, while placing it second in the overall orthopedic market to Johnson & Johnson. Achieving synergies from this transaction will be aided by the fact that both companies are headquartered in Warsaw, Indiana.

This trend in the healthcare industry of “scaling up” is expected to continue as companies deal with expected price pressures from the Affordable Care Act and other factors. This may well prove a plus for shareholders. But with fewer players and less competition, drug development and other medical innovation could suffer.

David Einhorn Comments on Resona

We established a position in Resona (TSE:8308), the largest Japanese regional bank, at a price of ¥547,representing 0.8x book value and 8x earnings. Resona was formed through the 2002-2003merger and recapitalization of three local banks in the Tokyo and Osaka regions. As part of thatrecapitalization, the Japanese government bought a majority equity stake. Under newmanagement, the bank cleaned up its balance sheet, began paying back the government stake,and has been profitable every year since, reaching a 13% ROE last year. In 2013, managementannounced a five-year plan to buy out the remaining government shareholding. Due to strongerthan expected earnings, that plan is well ahead of schedule, and the company is buying backstock from the government at very attractive valuations. The accretion from the buyback doesnot appear to be reflected in analyst models. With the more volatile international Japanese bankstrading at 9x EPS, and its peer regionals at 13x EPS, Resona is cheap on both an absolute andrelative basis. Resona shares ended the quarter at ¥499.From Greenlight Capital's first quarter 2014 investor letter by David Einhorn (Trades, Portfolio).Also check out: David Einhorn Undervalued Stocks David Einhorn Top Growth Companies David Einhorn High Yield stocks, and Stocks that David Einhorn keeps buying

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Presentation by Tweedy Browne's William Browne

Top Oil Service Companies To Buy Right Now

William Browne of legendary value investing firm Tweedy Browne (Trades, Porttfolio) presents below on his firm's approach as well as myths surrounding value investing.

Browne starts off the presentation explaining how he sold shares of Berkshire Hathaway (BRK.A)(BRK.B) in 1970 to fund his honeymoon. While it likely cost him a lot of money he thinks it was a good move since he is still married to the same woman today.

About the author:Canadian Valuehttp://valueinvestorcanada.blogspot.com/

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1 Mammoth ETF Provider Just Got Bigger (and Why That's Good for You)

The exchange-traded fund market has swelled to a multitrillion-dollar industry. One gigantic provider not only stands out among the rest but also recently gobbled up several billion dollars' worth of additional ETF assets. Let's take a closer look at the recent deal and what it means for investors.

Goliath flexing his muscles
Earlier this month, BlackRock (NYSE: BLK  ) closed an ETF acquisition deal with Credit Suisse (NYSE: CS  ) . The world's largest asset manager agreed to take nearly $18 billion worth of the Swiss bank's ETF fund assets. As a result, BlackRock gained all 58 of Credit Suisse's ETFs, which have been absorbed and rebranded under BlackRock's popular iShares platform.

The acquisition not only grants BlackRock clients access to a large and diverse European ETF offering, but also bolsters the asset manager's position as the market leader in Europe's ETF industry. Meanwhile, the deal dovetails with Credit Suisse's goal of streamlining its business operations in light of more rigorous regulatory requirements.

This acquisition comes after a deal was secured in March that effectively extended a three-year-old contract between BlackRock and Fidelity. The partnership grants Fidelity's millions of individual and institutional customers broader access to iShares ETFs.

Good news for ETF investors too
Even excluding the multibillion-dollar tally of Swiss-based funds, BlackRock's empire is colossal. Its iShares ETFs overwhelmingly dominate the market, holding about 40% market share. With roughly 23% share of the ETF market, State Street's (NYSE: STT  ) SPDR ETF business comes in second place. Vanguard rounds out the top three. These top ETF managers account for roughly 84% of the industry assets.

Top Oil Service Companies To Own In Right Now

Exchange-traded products such as these have grown globally by about 30% each year during the past decade. As more money pours into ETFs, economies of scale kick in, which knocks down expense ratios. And as competition heats up, providers scramble for your dollars and open up more commission-free ETF platforms. For example, Charles Schwab  (NYSE: SCHW  )  launched commission-free ETF trading in November 2009, and back in February, it expanded its commission-free offerings under its new OneSource program to offer more than 100 commission-free ETFs. Even though the ETFs available on the OneSource platform don't make up a huge portion of the overall ETF market -- the assets managed by those 105 ETFs make up about 3.5% of total ETF assets under management across the industry, according to Marketwatch -- the platform has been successful in attracting roughly $17 billion in assets under management since its launch date.

Foolish bottom line
It remains to be seen if BlackRock and Credit Suisse shareholders will win or lose from the deal. But an increased number of choices give ETF investors more opportunities and latitude when crafting their portfolios. And as competition heats up and access to even more ETFs becomes available, it drives the costs of ownership down, making ETF investors the big winners.

It's now possible to invest in some first-rate ETFs for practically nothing. Luckily for you, we've combed through the vast ETF universe and hand-selected three great ones. To learn more about a few ETFs that have great promise for delivering profits to shareholders, check out The Motley Fool's special free report "3 ETFs Set to Soar." Just click here to access it now.

Editor's note: A previous version of this article incorrectly identified the initial commission-free ETF platform Schwab introduced in November 2009 as OneSource, which was actually a later-introduced program in February 2013, and used an out-of-date figure for OneSource assets under management. The Fool and the author regret the error.

1 Winner From the Rise of Internet TVs

The Internet is invading our living rooms. Research firm NPD forecasts that, whether through consoles, streaming boxes, or the TVs themselves, the number of wired devices bringing broadband into homes should jump by 50% in two years -- to 120 million.

Plenty of big tech companies are vying for a piece of that surging market. Apple (NASDAQ: AAPL  ) , for example, has sold millions of its Apple TV streaming devices. And CEO Tim Cook said in May that the company has a "grand vision" around TV but hasn't clued investors in to its plans yet. Microsoft (NASDAQ: MSFT  ) , meanwhile, has made it clear that it wants its new Xbox console to be an all-in-one entertainment hub instead of just a gaming platform. And even Intel (NASDAQ: INTC  )   will be joining the fight with its own set-top box delivering a paid Internet video service this year.

In the following video, Fool contributor Demitrios Kalogeropoulos argues that Netflix (NASDAQ: NFLX  ) may actually be the best positioned to benefit from these battles. As an application, the company's software can be layered onto any popular device, just as it is today with consoles and streaming boxes. And Netflix's membership growth was the strongest over the holiday quarter last year, when consumers were snapping up tablets and smart TVs by the handful. If this holiday season turns into a tech war over Internet-connected living rooms, he argues, then Netflix could end 2013 with a similar bang.

Hot Insurance Companies To Invest In Right Now

The television landscape is changing quickly, with new entrants such as Netflix and Amazon.com disrupting traditional networks. The Motley Fool's new free report "Who Will Own the Future of Television?" details the risks and opportunities in TV. Click here to read the full report!

Hot Energy Companies To Buy For 2015

As 2014 opens, the North American energy revolution continues to help our economy and provide compelling investment opportunities across the energy value chain.

North American crude oil production topped 8 million barrels per day (bbl/d) in 2013 and production is on pace to reach 9.3 bbl/d by 2015, the highest level in 43 years. At the same time, the U.S. is now producing enough natural gas to meet its needs independent of imports. This results in improving business fundamentals for companies spanning the energy value chain — from the exploration and productions companies producing these valuable resources to the pipeline and related infrastructure companies that transport oil and gas to the end users.

Increased production drives investment opportunity

Hot Energy Companies To Buy For 2015: LRR Energy LP (LRE)

LRR Energy, L.P (LRR Energy) is a limited partnership formed by affiliates of Lime Rock Resources to operate, acquire, exploit and develop producing oil and natural gas properties in North America. The Company�� properties are located in the Permian Basin region in West Texas and southeast New Mexico, the Mid-Continent region in Oklahoma and East Texas and the Gulf Coast region in Texas. As of March 31, 2011, the Company�� total estimated proved reserves were approximately 30.3 million barrels of oil equivalent (MMBoe), of which approximately 84% were proved developed reserves. During the year ended December 31, 2010, approximately 55% of its pro forma revenues were from oil and natural gas liquids (NGLs) and approximately 37% of its total estimated proved reserves were oil and NGLs. As of March 31, 2011, the Company operated 93% of its proved reserves. Based on its pro forma average net production of 6,503 barrels of oil equivalent per day (Boe/d) for December 31, 2010, the Company�� total estimated proved reserves as of March 31, 2011 had a reserve-to-production ratio of approximately 12.8 years. In January 2013, the Company acquired oil and natural gas properties in the Mid-Continent region in Oklahoma from its sponsor, Lime Rock Resources. In April 2013, it announced that it closed its acquisition of oil and natural gas properties in the Mid-Continent region in Oklahoma.

The Company�� general partner, LRE GP, LLC, is controlled by Lime Rock Management LP. The Company�� general partner has sole responsibility for conducting its business and for managing its operations. The Company�� properties consist of mature, low-risk onshore oil and natural gas reservoirs with long-lived, predictable production profiles located across three diverse producing regions: the permian basin region in west texas and southeast new mexico, the mid-continent region in oklahoma and east texas, and the gulf coast region in texas. As of March 31, 2011, the Company�� estimated proved developed non-! producing reserves included 192 gross (158 net) recompletion, refracture stimulation and workover projects. In addition, as of March 31, 2011, the Company�� proved undeveloped reserves included 213 gross (140 net) identified drilling locations.

As of March 31, 2011, approximately 55% of the Company�� estimated proved reserves and approximately 44% of its pro forma average daily net production for the three months ended December 31, 2010, were located in the Permian Basin region. Approximately 60% of the Company�� estimated net proved reserves in the Permian Basin region are oil and NGLs. The Permian Basin is one of the oil and natural gas producing basins in the United States, extending over 100,000 square miles in West Texas and southeast New Mexico, and has produced over 24 billion barrels of oil. The Company owns an 83% average working interest across 665 gross (552 net) wells and operates approximately 92% of its properties in the Permian Basin. The Company�� estimated proved reserves for its Permian Basin properties as of March 31, 2011 totaled 16.6 MMBoe and had a standardized measure of $237.7 million, which represented 69% of the total standardized measure for all of its estimated proved reserves.

The Company�� properties in the Red Lake area is an oil-weighted field located in Eddy County, New Mexico. The Red Lake properties have produced approximately 4.9 MMBoe. The primary producing formations are the San Andres and Yeso at a depth of approximately 2,000 to 5,000 feet. The Company operates approximately 99% of its proved reserves in the Red Lake area, including 157 gross (144 net) producing wells in the field with an average working interest of 92%, and own a non-operated working interest in 10 gross (3 net) additional wells in the area with an average working interest of 31%. The Company�� properties in the field contained 9.6 MMBoe of estimated net proved reserves as of March 31, 2011, approximately 86% of which are oil and NGLs, and generated average n! et produc! tion of 1,410 Boe/d for December 31, 2010. These properties represented 32% of its total estimated proved reserves as of March 31, 2011 and 22% of the Company�� pro forma average net production for December 31, 2010. In addition, these properties had a standardized measure of $163.3 million as of March 31, 2011, which represented 48% of the total standardized measure for all of the Company�� estimated proved reserves.

The Company�� properties in the Pecos Slope area is a gas-weighted field located in Eddy, Chaves, Lea and Roosevelt Counties, New Mexico. The Company operates approximately 100% of its proved reserves in the Pecos Slope area, including 434 gross (382 net) producing wells in the field with an average working interest of 88%. The Company�� Willow Lake field is an oil-weighted field located in Eddy County, New Mexico. There are 41 gross (8 net) producing wells in this area with an average non-operated working interest of 19%. The Cowden Ranch area is an oil-weighted field located in Crane County, Texas. The Company operate s100% of its proved reserves in the Cowden Ranch area, including 8 gross (approximately 5 net) producing wells in the field with an average working interest of 71%. The Company�� properties in the Corbin and Vacuum have produced approximately 3.0 MMBoe. The Company operates 100% of its proved reserves in the Corbin and Vacuum areas, including 8 gross (8 net) producing wells with an average working interest of 100%.

As of December 31, 2010, approximately 33% of the Company�� estimated proved reserves and approximately 38% of its pro forma average daily net production for December 31, 2010 were located in the Mid-Continent region. The Company�� Potato Hills Area is an Arkoma Basin natural gas property located in Latimer and Pushmataha Counties in Southeast Oklahoma. The Company�� Reklaw properties have produced approximately 5.6 MMBoe. The Company operates 100% of its proved reserves in the Reklaw area, including 63 gross (61 net) pro! ducing we! lls in the field with an average working interest of 97%. Its properties in the Black Bayou-Doyle Creek area is a natural gas-weighted field located in Angelina, Cherokee and Nacogdoches Counties, Texas, in close proximity to the Reklaw area. The Company�� non-operated interest in 43 gross (approximately 12 net) producing wells in the field with an average non-operated working interest of 26%.

As of March 31, 2011, approximately 12% of the Company�� estimated proved reserves and approximately 18% of its pro forma average daily net production for December 31, 2010 were located in the Gulf Coast region. Approximately 31% of the Company�� estimated net proved reserves in the Gulf Coast region are oil and NGLs. The Company owns an 82% average working interest across 42 gross (35 net) wells and operates 100% of its properties in the Gulf Coast region. The Company�� property New Years Ridge area is a natural gas-weighted field located in DeWitt County, Texas. The Company�� George West-Stratton areas consist of natural gas-weighted fields located in Live Oak and Hidalgo Counties, Texas. The Company�� operates 100% of its proved reserves in the George West-Stratton areas, including 23 gross (17 net) producing wells in the George West-Stratton areas with an average working interest of 73%.

Advisors' Opinion:

• [By Robert Rapier]

  LRR Energy (NYSE: LRE) was another name I covered in the article Upstream Turbulence Yields Bargains. LRE is an upstream MLP focused on acquiring and developing oil and natural gas properties in the Permian Basin, the Mid-Continent region, and the Gulf Coast region in Texas. Total proved reserves at the end of 2012 were 31.7 million barrels of oil equivalent (BOE), of which 50 percent were liquids. The partnership is ~85 percent hedged through 2017 at average prices of $92.73/barrel for oil, $37.04/bbl for NGLs, and $5.06 per MMBtu for natural gas.

Hot Energy Companies To Buy For 2015: Oleo e Gas Participacoes SA (OGXP3)

Oleo e Gas Participacoes SA, formerly Centennial Asset Participacao Corumba SA, is a Brazil-based company involved in the oil and natural gas industry. The Company and its subsidiaries are primarily engaged in the research, mining, refining, processing, trade and transportation of oil and natural gas. The Company�� subsidiaries participated in a number of concessions in the Brazil and Colombia. On November 21, 2013, processing of judicial recovery was approved for the Company and OGX Petroleo e Gas SA, following decision of the Corporate Court of Capital of the State of Rio de Janeiro. Advisors' Opinion:

• [By Rajhkumar K Shaaw]

  The MSCI Emerging Markets Index retreated 0.3 percent to 1,027.27, extending its weekly slump to 1.4 percent. The Shanghai Composite Index (SHCOMP) slid to the lowest level in seven weeks as Great Wall Motor Co. (601633) tumbled 10 percent after earnings missed analysts��estimates. Oil company OGX Petroleo e Gas Participacoes SA (OGXP3) sank 19 percent, pacing losses in Brazil�� Ibovespa. The rupiah strengthened the most since Sept. 19.

Hot Services Stocks To Buy Right Now: Southern Pacific Resource Corp (STPJF.PK)

Southern Pacific Resource Corp. (Southern Pacific) is engaged in the acquisition and development of heavy oil and bitumen producing properties, with a focus on thermal extraction in-situ oil sands projects in the Western Canadian sedimentary basin. Southern Pacific has two principal assets STP-McKay and STP-Senlac. The Company also holds additional oil sands leases in the McMurray and Peace River sub-basins in northeastern Alberta. The Company has 100% working interest in approximately 37,760 acres, of oil sands leases in McKay Block. Southern Pacific has its 100% working interest SAGD thermal heavy oil asset near Unity, Saskatchewan, STP-Senlac. In September 2013, the Company announced the closing of a disposition of non-core assets related to its Leismer property. Advisors' Opinion:

• [By Stephan Dube]

  Cold Lake's most notable producers:

  Husky Energy (HUSK.PK), see article here.Pengrowth Energy Corporation (PGH), see article here.Southern Pacific Resource (STPJF.PK), see article here.Canadian Natural Resources (CNQ), see article here.Devon Energy (DVN), see article here.Imperial Oil (IMO), see article here.Baytex, see article here.Bonavista Energy (BNPUF.PK), see article here.

  Athabasca's most notable producers:

Hot Energy Companies To Buy For 2015: CST Brands Inc (CST)

CST Brands, Inc., incorporated on November 7, 2012 , is a retailer of transportation fuels and convenience goods in North America. As of April 30, 2013, the Company operated 1,032 Corner Stores throughout the United States, including Texas, Louisiana, Arkansas, Oklahoma, New Mexico, Colorado, Wyoming, Arizona and California. Its stores also provide prepared foods. In May 2013, the Company announced that the Company which includes Corner Store and Depanneur du Coin, spun off from Valero Energy Corporation.

The Company offers a range of products, such as snack foods, tobacco products, beverages and fresh foods, including its own brands: Fresh Choices sandwiches, salads and packaged goods; U Force energy drinks; Cibolo Mountain coffees (the United States); Transit Cafe coffee and bakery (Canada); FC bottled sodas, and Flavors 2 Go fountain sodas. Its Corner Store locations also provide in-store Subway sandwich shops.

Advisors' Opinion:

• [By John Kell]

  Valero Energy Corp.(VLO) said its fourth-quarter profit rose 28% as the oil refiner got a boost from the spinoff of gas-station retailer CST Brands Inc.(CST) Results easily topped estimates.

• [By Holly LaFon]

  Another area that is intriguing to us is the North American energy sector which looks to have a number of interesting catalysts currently. While the energy sector is at present only a modest overweight in the portfolios, we have been encouraged by several trends taking place for a number of years. These positive developments are also having an impact that goes far beyond the energy sector itself. Many believe that the U.S. will become energy independent and possibly a net exporter of natural gas and oil (currently restricted by law) in the next decade. This opinion is based primarily on the development of new drilling techniques (i.e. horizontal drilling, and high pressure fracking) that have enabled companies to access oil and natural gas reserves in shale formations that were previously not economically viable. The ability to tap into this acreage is a game-changer in our view and is already having a tremendous impact on the economy. Employment rates in these mostly rural areas surrounding the shale basins are very high and companies thus find hiring extremely competitive. Strong labor markets tend to create strong local economies. Oil States International (OIS) has been able to capitalize on this trend by providing housing and other services to oil service workers that are in demand in the area. CST Brands (CST) operates gas stations in Texas, but it is increasingly looking to broaden its product offering beyond fuel. Rail companies like Union Pacific (UNP), Canadian Pacific (CP), Kansas City Southern (KSU) and Genesee and Wyoming (GWR) have also benefited substantially. Given that shale areas are rural and often lacking infrastructure, substantial investment must be made to support drilling and production activities. Without pipelines in place, railroads have been the primary takeaway mechanism for moving production to the various clusters of refining capacity around the United States. In order to serve this demand, massive investment in railcars has been nee

• [By Roberto Pedone]

  Another potential earnings short-squeeze trade is CST Brands (CST), a retailer of transportation fuels and convenience goods in North America, which is set to release its numbers Tuesday before the market open. Wall Street analysts, on average, expect CST Brands to report revenue of $3.19 billion.

  The current short interest as a percentage of the float for CST Brands is very high at 19.4%. That means that out of the 55.66 million shares in the tradable float, 11.75 million shares are sold short by the bears. If the bulls get the earnings news they're looking for, then this stock could easily rip substantially higher post-earnings as the bears rush to cover some of their bets.

  From a technical perspective, CST is currently trending above its 50-day moving average, which is bullish. This stock has been trending sideways for the last three months, with shares moving between $30.31 on the downside and $33.96 on the upside. A high-volume move above the upper-end of its recent range could trigger a major breakout trade for shares of CST post-earnings.

  If you're in the bull camp on CST, then I would wait until after its report and look for long-biased trades if this stock manages to break out above some near-term overhead resistance levels at $32.99 to its all-time high at $33.96 a share with high volume. Look for volume on that move that hits near or above its three-month average action of 1.29 million shares. If that breakout hits, then CST will set up to enter new all-time high territory, which is bullish technical price action. Some possible upside targets off that breakout are $40 to $45 a share.

  I would simply avoid CST or look for short-biased trades if after earnings it fails to trigger that breakout and then drops back below its 50-day moving average of $32.12 a share with high volume. If we get that move, then CST will set up to re-test or possibly take out its next major support levels at $31.06 to $30.31 a share. Any high-vol

Hot Energy Companies To Buy For 2015: HyperSolar Inc (HYSR)

Hypersolar, Inc., incorporated on February 18, 2009, is developing renewable hydrogen using sunlight and any source of water, including seawater and wastewater. Unlike hydrocarbon fuels, such as oil, coal and natural gas, where carbon dioxide and other contaminants are released into the atmosphere when used, hydrogen fuel usage produces pure water as the only byproduct. The Company�� technology includes HyperSolar H2Generator. Its nano-size particle is designed to mimic photosynthesis and contains a solar absorber that generates electrons from sunlight, as well as integrated cathode and anode areas to readily split water and transfer those electrons to the molecular bonds of hydrogen.

The HyperSolar H2Generator consists of the following primary stages: Reactor Vessels, Hydrogen Compressor and Hydrogen Storage. The reactor vessels resemble transparent rectangular boxes containing water and billions of nanoparticles suspended in solution. When exposed to sunlight, hydrogen gas will bubble up into an air gap on top for separation and collection. Produced hydrogen gas will be compressed for space efficient storage. Hydrogen can be stored in compressed gas tanks or chemical canisters depending on the application. The HyperSolar H2Generator will be a self-contained renewable hydrogen production system that requires only sunlight and any source of water.

The Company competes with Air Products and Chemicals Inc. and Air Liquide.

Advisors' Opinion:

• [By John Udovich]

  Small cap hydrogen fuel stocks Hydrogenics Corporation (NASDAQ: HYGS), FuelCell Energy Inc (NASDAQ: FCEL), HyperSolar Inc (OTCMKTS: HYSR) and HydroPhi Technologies Group, Inc (OTCMKTS: HPTG) are some of the lesser known small caps that are�working with hydrogen fuel or hydrogen fuel cell related technology. I should say that small cap hydrogen stocks are not for risk adverse investors as there are considerable unanswered questions about hydrogen fuel related technology and whether it can be a viable green technology given the fueling infrastructure needed along with the�energy and expense involved in creating hydrogen�(Note: None of these small cap�stocks are profitable at ). But any new technology will pose the same types of risks for early stage investors���especially if its so-called green technology.�

Hot Energy Companies To Buy For 2015: Green Technology Solutions Inc (GTSO)

Green Technology Solutions Inc (GTSO), incorporated on February 22, 1991, is in the business of identifying and acquiring rights in early stage, green technologies, with the plan to develop these technologies into marketable products. The Company has identified several technology endeavors.

As of December 31, 2011, the Company has identified the advancement of mining technologies, with an emphasis on rare earth and precious metals mining applications, the development of additional markets for existing paint products that are being marketed in the United States, and smart grid technology. GTSO has also identified additional joint venture in China and South America.

Advisors' Opinion:

• [By CRWE]

  Today, GTSO has shed (-5.66%) down -0.0018 at $.0300 with�22,150 shares in play thus far (ref. google finance Delayed: 11:34AM EDT July 3, 2013), but don�� let this get you down.

  Previously after forging a new joint venture, Green Technology Solutions, Inc. and Chilerecicla are already hard at work identifying new Latin American companies and locales ideally suited to the partnership�� ambitious expansion plans.

  The partnership has targeted Latin America for expansion because it�� a key emerging market in the booming global e-waste recycling and reuse services industry, which Transparency Market Research predicts accounted for more than $9 billion in 2012. The firm expects the worldwide e-waste market to reach $18 billion in 2017, growing at a compound annual growth rate of 13.2 percent from 2012 to 2017.

Dole CEO Bids to Take Company Private

Shares of fresh-fruit producer Dole Foods (NYSE: DOLE  ) soared more than 20% in morning trading after the board of directors announced its chairman and CEO had offered to acquire all of the outstanding shares of company stock he and his family don't already own for $12.00 per share in cash, which values the company at $1.07 billion.

The board said it will be meeting over the next several days to establish a committee of independent directors to consider the proposal by David H. Murdock, who owns 40% of the company, and whether it's in the best interests of the company and its stockholders. Dole cautions the proposal was unsolicited and it's only in its beginning phase, so no decision has been made.

Dole had revenues of $4.2 billion in 2012. The offer values the equity of the company at $1.07 billion and assigns an enterprise value to it of $1.5 billion. 

Hot Gas Companies To Invest In Right Now

The $12.00-per-share bid represents an 18% premium to yesterday's closing price and the fact that it's trading above that value now suggests investors are contemplating a higher, competing bid will be made. As of this writing, Dole shares are trading at $12.39.

In a letter on file with the SEC, Murdock said his proposal "presents an excellent opportunity for Dole's shareholders to realize an attractive, all-cash premium for their shares at a favorable valuation in a challenging operating environment." He wrote that as a private company, Dole would be better able to undertake necessary efforts that might not pay off in the short term. "This will give the Company greater flexibility to make investment and operating decisions based on long-term strategic goals without the concern that a public company must have for the investing public's short-term expectations," wrote Murdock. "It can also provide opportunities for cost and tax savings."

He wrote that he plans to withdraw the offer if a definitive merger agreement has not been executed by July 31.

Last month Dole said it would indefinitely suspend its $200 million share repurchase program and use its cash instead to update its shipping fleet to enhance its growth prospects. The company said that another factor in the suspension of the repurchase plan was the drag on earnings due to recent losses in its strawberry business.

Dole has gone through a lot of major changes recently. It sold its packaged foods and Asia fresh business for $1.69 billion in a deal that closed in April.

-- Material from The Associated Press was used in this report.

link

These CEOs Will Make You Rich

We're sharing this edition of Private Briefing with you because it contains some of Bill's best insight into what turns good companies into great ones - and how you can profit from them. Bill's readers profit from analysis like this all the time...

During the 30 years I've spent as a business journalist and financial columnist, I've developed a long list of personal axioms that have helped me identify "Best of Breed" investments.

These axioms touch on such topic areas as finance, marketing, intellectual property, and even competitive threats. But some of the most important of my personal investment aphorisms have to do with leadership and a company's management team.

And leadership starts with the CEO.

As one of my precepts holds, "A good CEO can create a very strong company. But a great CEO can create an empire."

Just like these...

Build an Empire of Profits

The example I usually use to illustrate this axiom is John F. "Jack" Welch Jr., who ran General Electric Co. (NYSE: GE) from 1981 to 2001.

Welch had already been with GE for two decades prior to becoming the head honcho and had a well-earned reputation as a maverick.

When he took over as chairman and CEO in 1981, he inherited a moribund industrial company with a stultifying bureaucracy, an oversized workforce, and many laggard businesses. One of his edicts stated that every GE business had to be either No. 1 or No. 2 in its respective market; those that couldn't meet this requirement would be sold, broken up, or shut down.

In the years to come, Welch restructured GE's business holdings, bought some businesses and sold others, and carved out unneeded layers of management. He also slashed business-unit work forces while leaving the underlying business alone - a corporate version of the "Neutron Bomb" invention of the time. The parallels earned Welch his "Neutron Jack" sobriquet, a nickname he was said to despise.

Welch's results ultimately silenced any critics: During his tenure at GE, the company's value rose 4,000%. His retirement came with a severance of $417 million - the largest in history. And GE hasn't been the same company since.

As I've mentioned in past Private Briefing columns, I had the opportunity to interview Welch. And I followed his career - and results - with a deep interest. And when I related this story to a colleague a week or so ago, it served as a bit of inspiration... giving me an idea of something we could do here - for you.

It's something I believe will put some real money in your pocket.

So let's take a look ...

An Intriguing Conversation...

A week or so ago, I related this story about Welch to Radical Technology Profits Editor Michael Robinson. Like me, he had an earlier career as a journalist, so we were quickly in synch in analyzing the importance of leadership.

Wanting to capitalize on Michael's tech-sector expertise, I ended up issuing a bit of a challenge.

"We see the long-term gains that Welch was able to generate for his shareholders," I told Michael. "So, what if we turn our attention to the tech sector - your bailiwick - and 'handicap' the five CEOs that we'd want to take the same kind of long-term trip with? A lot of these companies have probably enjoyed some pretty dramatic gains already. But those are the 'trees'... and we can't lose sight of the reality that the kind of long-term returns that Welch generated for GE shareholders are actually the 'forest.' I'm betting that if we use your insights into the global tech sector, we could identify the 'Neutron Jacks' of the digital world - folks with vision and the ability to create a venture that can evolve, adapt, and grow with the changes technology brings."

I could tell that Michael was locked in on what I was saying, because he immediately added: "And the great thing, Bill, is that - with GE, as great as it was at the time - you're still talking about an industrial company. Here we'll be talking about tech firms. And, for that reason alone, you'd have to think that, over the same long-haul period, the returns that we'll be talking about will be much, much more than were realized by Welch."

Three final thoughts: First, we decided to handicap five CEOs instead of just one in the interest of diversification... not every one of these will play all the way out. And, second, we chose established CEOs - those with a track record already. A startup might generate stratospheric returns, but that wasn't the point of this exercise. Finally, we wanted to do this now, reasoning that any kind of an extended sell-off might give you the chance to establish positions in these stocks at even lower prices than they're trading at today.

The breakdown I present now is the result of a lot of legwork by Michael - with a few contributions from me...

Top Tech CEO No. 1

Elon Musk, of Tesla Motors

Best known as a co-founder of electric-vehicle (EV) firm Tesla Motors Inc. (Nasdaq: TSLA), Musk showed a burning desire to turn his technical talents into money very early in life.

Raised in his native South Africa and later in Canada, Musk learned computer programming at age 12. Working by himself, he programmed a video game that he then sold for $500.

Peanuts, to be sure, but the experience was an inspiration to Musk - an epiphany, in fact, that high-tech was the pathway to success - and wealth.

After earning his physics degree from the University of Pennsylvania and business degree from Wharton, Musk turned his passion for business into a string of successes.

He helped launch Zip2, a software company later sold for $305 million, netting Musk $22 million for his shares. He then developed PayPal, which later sold to eBay Inc. (Nasdaq: EBAY) for $1.5 billion. At the time, Musk owned 11.7% of the company, making his stake worth roughly $175 million.

In 2002, he founded SpaceX with $100 million of his own money. Less than six years later, the company received a $1.6 billion NASA contract. In 2012, the firm made history as the first commercial company to launch and dock a vehicle at the International Space Station (ISS).

Besides serving as Tesla's CEO, Musk is chairman of the board at SolarCity Corp. (Nasdaq: SCTY). Over his career, he's received countless awards.

In 2007, Inc. magazine named him "Entrepreneur of the Year" for his involvement with Tesla and SpaceX. And in 2011, Forbes named him one of "America's 20 Most Powerful CEOs 40 and Under."

Along the way, Tesla's shareholders have done extremely well. Since Tesla's initial public offering (IPO) back in 2010, the stock has returned nearly 1,100%.

Tesla's shares have sold off sharply of late. But the lower they go, the more interested we get. Musk is a proven builder. And he's still standing at the starting line of what we believe will be a very profitable career for those willing to go along for the ride.

Top Tech CEO No. 2

Reed Hastings, of Netflix

A natural whiz at math, Hastings didn't start out in business. Instead, he joined the Peace Corps, serving in places like Switzerland and Africa.

With public service under his belt, Hastings went back to school, eventually receiving a Master's Degree in computer science from Stanford. In 1991, he founded Pure Software, which provided debugging and troubleshooting services.

Then came Netflix...

Hastings founded the company in 1998, as a through-the-mail movie-rental business. The company began with a subscription format focused on physical media like videotapes and DVDs.

It was here that Hastings showed he was a visionary exec, and not a caretaker.

The "experts" up on Wall Street thought the company would have a tough time moving to a web-based platform.

Hastings proved them wrong.

He recast Netflix Inc. (Nasdaq: NFLX) as a dominant player in the burgeoning market for online movies. And the company has won awards for its original TV shows.

Hastings also is pushing the boundaries of the format by moving Netflix into ultra-high-definition TV (UHDTV), a Next-Big-Thing technology that could ignite the next spending boom in broadcasting. (Indeed, one of our favorite recommendations - which allowed Private Briefing subscribers to double their money in just a few months last year - is a play on this "4K" technology.)

Today, Netflix has 44 million subscribers in more than 40 countries around the world. The stunner: The company says its subscribers watch more than a billion hours of its streaming service each month.

Hastings has done incredibly well by his shareholders. With a $22 billion market cap, the stock trades at $378 a share. Over the past five years, it's gained 920%.

Top Tech CEO No. 3

Jeff Bezos, of Amazon.com

You'd think the King of E-Commerce would have started his career in high tech.

But after getting degrees in electrical engineering and computer science, Bezos beat a path to Wall Street, becoming a vice president for Bankers Trust. He later became a senior veep at D.E. Shaw & Co., a firm known for its computer-driven trading know-how.

In 1994, Bezos chucked that life... for a different one.

He and his wife packed up and moved from New York to Seattle. On the cross-country drive, Bezos banged out Amazon.com Inc.'s (Nasdaq: AMZN) initial business plan.

In turning Amazon from bookseller into the world's largest online retailer, he became a master marketer - with a gift for cross-selling, up-selling... while leaving his customers feeling thrilled with their purchases. He pioneered the use of one-click ordering and encouraged customers to review products, a comforting feature that attracts new buyers and builds loyalty.

In 2009, he orchestrated the purchase of online shoe-seller Zappos Inc. for $850 million. Zappos still ranks as one of the more respected e-commerce brands.

As a classic growth entrepreneur, Bezos also has paid attention to product handling that drives down overhead. In 2012, Amazon bought robotics player Kiva Systems Inc. for $775 million.

And he turned a company "surplus" into a whole new business when he parlayed the extra space on Amazon's servers into a commanding lead in Cloud Computing. In fact, The Wall Street Journal estimates that Amazon Web Services has annual sales of at least $3 billion.

At its recent stock price of $350 a share, Amazon has a market value of $170 billion. Over the past five years, the stock has gained 410%. I got to interview Bezos back in the early 2000s. And he's even more impressive today than he was back then.

Top Tech CEO No. 4

Larry Page, of Google

It's no surprise that Page ended up in computer science: Because he grew up in a high-tech household, Page was a true product of his environment. Page's father, Carl, earned a doctorate in the subject in 1965 and is considered a trailblazer in artificial intelligence (AI).

This may explain why Page has steadily moved Google Inc. (Nasdaq: GOOG) beyond search - first with the "Mobile Wave" and Cloud Computing, and now into such areas as "wearables," Google Glass, robotics, and autonomous vehicles.

In fact, he makes the cut for this list of remarkable tech CEOs as much for his vision as for the cash he's put into shareholders' pockets.

Page followed the path that his father had blazed. He received a Bachelor's Degree in computer engineering and later a Master's in computer science.

In 1998, while pursuing his doctorate from Stanford University, Page co-founded Google with partner Sergey Brin, serving as the company's president of products.

And he has a reputation as a very big thinker. In recent months, Google has acquired at least seven robotics companies and a handful of others directly involved with artificial intelligence.

Of course, neither Page nor Google will disclose exactly what these moves mean for the company's future. But this is the company that hired Ray Kurzweil, the futurist who's famous for predicting the blend of man and machine that's referred to as the "Singularity."

In that context, Google Glass, driverless cars, and Google's new AndroidWear operating system for wearable tech points to a vision of a hyper-connected world - with Google as the axis.

Page ranked 24th on the Forbes list of billionaires in 2011. The next year, he placed 27th on the Bloomberg Billionaires Index, with an estimated net worth of $21.1 billion.

Like the other execs on this list, Page's shareholders have done well. Since he took over the CEO spot back on April 4, 2011, Google's stock price has roughly doubled to its current $1,150. Over the past five years, GOOG shares have soared 240%. The company is worth $390 billion.

Top Tech CEO No. 5

Dave Cote, of Honeywell International

Honeywell International Inc. (NYSE: HON) CEO Dave Cote is proof positive that CEOs can come from humble beginnings, too.

His parents were a homemaker and a gas-station owner. As a teen in New Hampshire, he worked at his dad's garage and also washed cars. He dropped out of college for a year and became a commercial fisherman.

After returning to school so he could one day support his family, Cote quickly earned a reputation as a strong leader. Known for being extremely decisive, he began his steady climb to the top management spot at a company that's a world leader in aerospace.

The trade journal Institutional Investor recently name Cote the "Best CEO" in Honeywell's industry segment. Last year, Chief Executive magazine named Cote "CEO of the Year." And Barron's has recognized him as one of the world's best CEOs.

This spring, Cote will be inducted to the Horatio Alger Association of Distinguished Americans. The group recognizes leaders who have demonstrated courage and character in overcoming obstacles on the road to success.

The timing of all this is intriguing: Cote recently announced a new strategic plan for Honeywell.

The first part of Cote's new vision calls for Honeywell to boost its current 1.9% dividend and buy back $5 billion in stock. But the plan also seeks growth: It calls for the company to make acquisitions of as much as $10 billion.

Cote is clearly a strategic thinker. But he's also got the hard-charging drive needed to make that plan come to life.

And he's already rewarded shareholders.

After a five-year surge that's taken the shares up 214%, Honeywell's $90 stock price gives the company a market value of $73 billion. And the dividend payouts have also boosted shareholder returns.

Investing fads come and go, and Wall Street turns itself inside out worrying about quarter-to-quarter numbers and whether guidance is a penny above, or a penny below, some artificial projections.

And when sell-offs start, most investors feel most comfortable when running to the sidelines - which locks in their losses and guarantees that they'll miss the eventual rebound.

But we're different. We're sharpening our pencils and are clicking our ballpoint pens: If this sell-off deepens, we now have a partial "shopping list" of stocks we want to own.

That shopping list carries the heading "Strong CEO Companies."

Now we just have to decide at what price we wish to buy.

We're going to help you with that, too.

Dividend Discount Model Indicates a Buy for Potash Corporation

Potash Corporation of Saskatchewan Inc. (POT) is the world's largest integrated fertilizer and related industrial and feed products company by capacity. The company aims to be the lead supplier of potash, nitrogen and phosphate products.

Its P/E ratio indicates that the stock is relatively overvalued (17.1 vs 16.4 of industry mean). So now let's take a look at the intrinsic value of this company and try to explain to investors the reasons why it is a good buy or not.

In this article, we present a model that is by no means the be-all and end-all for valuation. The purpose is to force investors to evaluate different assumptions about growth and future prospects.

Valuation

In stock valuation models, dividend discount models (DDM) define cash flow as the dividends to be received by the shareholders. Extending the period indefinitely, the fundamental value of the stock is the present value of an infinite stream of dividends according to John Burr Williams.

Although this is theoretically correct, it requires forecasting dividends for many periods, so we can use some growth models like: Gordon (constant) growth model, the Two or Three stage growth model or the H-Model (which is a special case of a two-stage model).

To start with, the Gordon Growth Model (GGM) assumes that dividends increase at a constant rate indefinitely.

Let´s estimate the inputs for modeling:

Required Rate of Return (r)

The capital asset pricing model (CAPM) estimates the required return on equity using the following formula: required return on stockj = risk-free rate + beta of j x equity risk premium

Assumptions:

Risk-Free Rate: Rate of return on LT Government Debt: RF = 2.67%

Beta: β =0.99

GGM equity risk premium = (1-year forecasted dividend yield on market index) +(consensus long-term earnings growth rate) – (long-term government bond yield) = 2.13% + 11.97% - 2.67% = 11.43%[1]

rPOT = RF + βPOT [GGM ERP]

= 2.67% + 0.99 [11.43%]

= 13.99%

Dividend growth rate (g)

The sustainable growth rate is the rate at which earnings and dividends can grow indefinitely assuming that the firm´s debt-to-equity ratio is unchanged and it doesn´t issue new equity.

g = b x ROE

b = retention rate

ROE can be estimated using Dupont formula:

Because for most companies, the GGM is unrealistic, let´s consider the H-Model which assumes a growth rate that starts high and then declines linearly over the high growth stage, until it reverts to the long-run rate, a smoother transition to the mature phase growth rate that is more realistic.

Dividend growth rate (g) implied by Gordon growth model (long-run rate)

With the GGM formula and simple math:

The growth rates are:

Year	Value	g(t)
1	g(1)	19.21%
2	g(2)	16.78%
3	g(3)	14.34%
4	g(4)	11.90%
5	g(5)	9.46%

G(2), g(3) and g(4) are calculated using linear interpolation between g(1) and g(5).

Calculation of Intrinsic Value

Year	Concept	Amount	Present value
0	Div 0	1.40
1	Div 1	1.67	1.46
2	Div 2	1.95	1.50
3	Div 3	2.23	1.50
4	Div 4	2.49	1.48
5	Div 5	2.73	1.42
5	Terminal Value	66.08	34.34
Intrinsic value			41.70
Current share price			33.89

Final Comment

When the stock price is lower than the intrinsic value, the stock is said to be undervalued and it makes sense to buy the stock. We have covered just one valuation method and investors should not be relied on alone in order to determine a fair (over/under) value for a potential investment.

Hedge fund gurus have also been active in the company. Gurus like Murray Stahl (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), David Dreman (Trades, Portfolio) and Arnold Van Den Berg (Trades, Portfolio) have bought the stock in fourth quarter of 2013.

Disclosure: Victor Selva holds no position in any stocks mentioned.

[1] This values where obtained from Blommberg´s CRP function.

Also check out: Arnold Van Den Berg Undervalued Stocks Arnold Van Den Berg Top Growth Companies Arnold Van Den Berg High Yield stocks, and Stocks that Arnold Van Den Berg keeps buying David Dreman Undervalued Stocks David Dreman Top Growth Companies David Dreman High Yield stocks, and Stocks that David Dreman keeps buying

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The All-In-One Screener	Portfolio Tracking Tool

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