Third Avenue Management Comments on Tanger Factory Outlet Centers

Tanger Factory Outlet Centers Tanger (SKT) is a U.S.-based real estate investment trust that owns andoperates43retailoutletcentersintheU.S. and Canada. Tanger has a leading position in outlet centers alongside Simon Property Group's Chelsea subsidiary (together they control 80% of the outlet malls in the U.S.). The outlet business has been extremely strong over the past few years, as rental rates and occupancy trends have remained strong due to the value orientation offered by the distribution channel. Tanger's centers have averaged97%occupancyover the past five years and rental rates have grown over 15% annually. Tanger has led the retail sector in internal and external growth, due to their low occupancy cost ratios and high demand from tenants. To put it in perspective, most luxury retailers state that the outlet distribution channel is among their most profitable, and have expressed an interest to continue to expand this channel. Tanger has one of the strongest balance sheets in the retail sector (approximately 30% net debt-to-assets). It is run by a conservative and incentivized management team and has strong development growth prospects, as it continues to capitalize on the trend of consumers and retailers shifting to the outlet channel.

From Third Avenue Management's semi-annual 2013 review.


Related links:Third Avenue Management

Like TrueBlue, Labor SMART is Growing (TBI, LTNC, PAYX, MAN)

When looking at small cap stocks, it is useful to compare the company with others that have expanded in both share price and size. For those considering investing in the $100 billion staffing industry, the growth of TrueBlue (NYSE: TBI) shows what could be the potential path for Labor SMART (OTCBB: LTNC), as both operate in the $29 billion demand labor sector. Other firms have done well in the staffing industry include Paychex (NASDAQ: PAYX) and ManPower Group (NYSE: MAN).

The staffing industry has done well, with the share prices for TrueBlue, ManPowerGroup, and Paychex surging in recent market action.

For 2013, TrueBlue has risen more than 43%. Over the same period, ManpowerGroup has soared more than 70%. Year to date, the stock price of Paychex is higher by about one-third.

Quarterly sales growth is up nearly 20% for TrueBlue. On the same basis, earnings-per-share growth is higher by more than 70% for ManpowerGroup. The profit margin at Paychex is now 24.50%, more than double that for the average for a member of the Standard & Poor's 500 Index.

Hot Gold Stocks To Own Right Now

Business is booming at Labor SMART, too.

For August, revenues were 175% more than the month from a year ago. For the month, Labor SMART added more than 100 new clients. The client roster of Labor SMART ranges from small businesses to Fortune 100 companies.

Unlike TrueBlue, Paychex, and ManpowerGroup, the stock price has not soared for Labor SMART. That is a tremendous opportunity for investors to buy a small cap at a low price with growing revenues in a growing industry. Now trading around $25 a share, TrueBlue was at $2.25 in March 1997. The ascension of TrueBlue shows the potential for Labor SMART for long term investors.

The revenues for just August alone for Labor SMART are now almost half its market capitalization.

That points to investors how undervalued the stock is at its current level. On a price-to-sales ratio, Labor SMART is selling at more than a 50% discount. WIth revenues and clients increasing, the share price should be too for Labor Smart.

Are Small Cap Electronic Cigarette Stocks a Healthy Investment? HPNN, SFIO, VPCO & ECIG

While there is a new "study" out claiming that electronic cigarettes, or so-called e-cigarettes or e-cigs, may contain a comparable level of carcinogens to regular cigarettes, speculative investors might still want to take a look at small cap electronic cigarette stocks like Hop-on, Inc (OTCMKTS: HPNN), Smokefree Innotec (OTCMKTS: SFIO), Vapor Corp (OTCMKTS: VPCO) and Victory Electronic Cigarettes Corp (OTCMKTS: ECIG) as these appear to be the major publicly traded small cap stocks left in the sector. I should note that all of the major big tobacco stocks have entered the electronic cigarette market (see Who Are the Big Tobacco Electronic Cigarette Stocks? MO, LO & RAI) through acquisitions or their own R&D initiatives, which might mean that an acquisition by big tobacco is off the table as an exit strategy for investors.  Moreover and as I previously noted, there are concerns about the safety of electronic cigarettes as their popularity grows while the Wall Street Journal recently reported that the FDA has been in discussions with the e-cigarette industry about a possible online-sales ban of the product.

With that in mind, here is a brief look at small cap  electronic cigarette stocks:

Hop-on, Inc. An international leader in the development and manufacture of electronics, distributed software and telecommunications services, small cap Hop-on, Inc is focused on high-volume, low-cost wholesale distribution, technology licensing, white-label solutions, and development of ancillary revenue streams in markets worldwide. Back in March, Hop-on, Inc's USAcig division announced a line of newly designed, "highly effective" electronic cigarettes and cigars had begun shipping to distributors and retailers. However, Hop-on, Inc hasn't traded since August 19th when it closed at $0.0001 and the stock is down 97.5% over the past five years. Smokefree Innotec. In the business of designing, developing, manufacturing and marketing hi-tech, nicotine and non-nicotine cigarette-like delivery devices which are completely smoke and vapor-free and tobacco-free, small cap Smokefree Innotec offers two distinguished flavors for its REAL Smokefree product: 1) VIRGINIA BLEND, a tobacco like flavor with a slight fruity after taste; and 2) COOL MINT, is a strong menthol flavor giving you a fresh mentholated after taste. According to Smokefree Innotec's website, the company plans to add several other flavors to its range of filters in the near future. However, there is no news on the usual financial sites about Smokefree Innotec and trading has been intermittent. On Tuesday, Smokefree Innotec closed at $0.0005 on August 23rd for a market cap of $316,700 plus the stock is down 75% over the past year.

Vapor Corp. Calling itself the only fully reporting, publicly traded electronic cigarette company in the United States, small cap Vapor Corp's is also the first electronic cigarette company to successfully employ a multiple brand business model as its products are available online, on television and at retail locations across all levels/channels of retail throughout the United States. In addition, Vapor Corp has private label electronic cigarette programs for regional and national retail chains and distributors while its own brands include include Fifty-One®, Krave®, VaporX®, EZ Smoker®, Alternacig®, Green Puffer®, Americig®, Fumare™, Hookah Stix™ and Smoke Star®. At the end of July, Vapor Corp reported that net sales fell 24% to approximately $6.2 million with the decrease in sales primarily attributable to decreased sales to a distributor (net of increased sales to new and other existing distributors, wholesale customers and increased direct to consumer sales) plus the company reported a net loss of $54,650 verses $193,735 for the same period last year. At the end of the quarter, Vapor Corp had unfilled orders of approximately $1.5 million from wholesale and distributor customers and its CEO noted: "Consumer demand for our products remains strong and interest in our diverse line of products is growing." On Tuesday, Vapor Corp fell 1.85% to $1.06 (VPCO has a 52 week trading range of $0.17 to $1.50 a share) for a market cap of $63.99 million plus the stock is up 404.8% since the start of the year, up 457.9% over the past year and up 4,140% over the past five years.

Victory Electronic Cigarettes Corp. In the business of designing, marketing and distributing electronic cigarettes, small cap Victory Electronic Cigarettes Corp was formerly known as Teckmine Industries and apparently acquired Victory Electronic Cigarettes LLC in April 2013 by doing a reverse merger. Victory Electronic Cigarettes Corp has filed a Form 10-Q for the period ending on June 30th, but that form is probably not going to be much help given the recent reverse merger (the company does have a slick website here). Otherwise, Victory Electronic Cigarettes Corp closed at $1.01 when it last traded on Monday for a market cap of $53.88 million and it hasn't traded much before that.

As you can see, only small cap Vapor Corp comes close to being possibly investment grade material for an investor with an appetite for risk while the other three are definitely more speculative or just to lightly traded at this time - meaning small cap electronic cigarettes may not be the healthiest investment. 

Top 10 China Companies To Buy Right Now

The surge of natural gas production in the U.S. has opened several doors that many didn't think were previously economically feasible: Manufacturers are reconsidering a move back to the U.S. for cheap energy prices, using natural gas as a transportation fuel is not a joke, and we're even debating the merits of exporting natural gas.

One thing is certain: Our ability to extract shale gas has given the U.S. a competitive advantage that could potentially hold for a decade. According to panelists at the 2013 Energy Forward conference at the University of Chicago's Booth School of Business, only China has a shot at effectively producing from shale gas in the next 10 to 15 years. Let's look at how the U.S. will keep that position for that long and one policy that will prevent others from doing the same.

Top 10 China Companies To Buy Right Now: Qihoo 360 Technology Co. Ltd.(QIHU)

Qihoo 360 Technology Co. Ltd. provides Internet and mobile security products in the People's Republic of China. Its principal products include 360 Safe Guard, an Internet security product for Internet security and system optimization; 360 Anti-Virus, an anti-virus application to protect users? computers against trojan horses, viruses, worms, adware, and other forms of malware; and 360 Mobile Safe, a security program for the Google Android, Apple iOS, and Nokia Symbian smartphone operating systems. The company?s platform products comprise 360 Safe Browser, a Web browser; 360 Personal Start-up Page, a default homepage of 360 Safe Browser and a key access point to popular and preferred information and applications; 360 Application Store, a key access point to securely obtain and manage software and applications; and 360 Safebox, a solution that protects users against thefts of personal account information. It also provides online advertising services, including online marketi ng services and search referral services; and Internet value-added services comprising the operation of Web games developed by third-parties, remote technical support, and cloud-based services. The company was formerly known as Qihoo Technology Company Limited and changed its name to Qihoo 360 Technology Co. Ltd. in December 2010. Qihoo 360 Technology Co. was founded in 2005 and is based in Beijing, the People?s Republic of China.

Advisors' Opinion:

• [By Vincent Ho]

  Baidu (BIDU) has made impressive gains in the last 3 months. There are some very insightful articles on SA that argue for a bullish stance based on valuations. There are other articles on SA which cover the recent acquisition of 91 Wireless. This article is different in that it offers an overview of Baidu's business model in relation to its dependence on online advertising. Understanding the direction of the internet is important to predict future revenue growth. Significantly new competition from Qihoo (QIHU) is also something Baidu has never experienced before. There are doubts if Baidu has enough tools to clean up its act and regain market share.

• [By Jon C. Ogg]

  Qihoo 360 Technology Co. (NYSE: QIHU) was raised to Buy from Hold at Jefferies.

  Safe Bulkers Inc. (NYSE: SB) was raised to Buy all the way up from Underperform for a two-notch upgrade, and the price target was raised to $8 from $6, at BofA/Merrill Lynch.

Top 10 China Companies To Buy Right Now: Renesola Ltd.(SOL)

ReneSola Ltd, together with its subsidiaries, engages in the manufacture and sale of solar wafers and solar power products. It offers virgin polysilicons, monocrystalline and multicrystalline solar wafers, and photovoltaic cells and modules. The company also provides cell and module processing services. Its products are used in a range of residential, commercial, industrial, and other solar power generation systems. The company sells its solar wafers primarily to solar cell and module manufacturers. It principally operates in Mainland China, Singapore, Taiwan, Hong Kong, Korea, India, Australia, Germany, Italy, Spain, Belgium, France, the Czech Republic, and the United States. The company was founded in 2003 and is based in Jiashan, the People?s Republic of China.

Advisors' Opinion:

• [By Paul Ausick]

  Provided that the Chinese government either encourages or permits consolidation, any of these three could be an acquirer. The likeliest target, of course, is SunTech Power Holdings Co. Ltd. (NYSE: STP), which is reorganizing and which the government has already seemed to give up on. Other possible targets include ReneSola Ltd. (NYSE: SOL) and JinkoSolar Holding Co. Ltd. (NYSE: JKS).

• [By Paul Ausick]

  Stocks on the move: Nokia Corp. (NYSE: NOK) is up 31.5% at $5.13 on the announcement that Microsoft Corp. (NASDAQ: MSFT) will acquire the Finnish firm�� mobile phone business for $7.2 billion. Chinese solar energy stocks are getting a boost again today, with Hanwha SolarOne Co. (NASDAQ: HSOL) up more than 15.9% and ReneSola Ltd. (NYSE: SOL) up 14.9%.

• [By Paul Ausick]

  Big earnings movers: Salesforce.com Inc. (NYSE: CRM) is up 12.5% at $49.11 and posted a new 52-week high of $49.94 today. Krispy Kreme Doughnuts Inc. (NYSE: KKD) is down $15 at $19.74. Splunk Inc. (NASDAQ: SPLK) is up 12.8% at $55.18 after posting a new 52-week high of $55.83 earlier today. Big Lots Inc. (NYSE: BIG) is up 2.3% at $35.42. ReneSola Ltd. (NYSE: SOL) is up 8% at $4.75.

• [By Paul Ausick]

  Notable earnings reports currently on tap for next week: Qihu 360 Technology Co. Ltd. (NASDAQ: QIHU), Avago Technologies Ltd. (NASDAQ: AVGO), LDK Solar Co. Ltd. (NYSE: LDK), Tiffany & Co. (NYSE: TIF), Joy Global Inc. (NYSE: JOY), Campbell Soup Co. (NYSE: CPB), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), Krispy Kreme Doughnuts Inc. (NYSE: KKD), and ReneSola Ltd. (NYSE: SOL).

Hot Financial Stocks To Watch For 2014: LDK Solar Co. Ltd.(LDK)

LDK Solar Co., Ltd., together with its subsidiaries, engages in the design, development, manufacture, and marketing of photovoltaic (PV) products; and development of power plant projects. It offers solar-grade and semiconductor-grade polysilicon; and multicrystalline and monocrystalline solar wafers to the manufacturers of solar cells and solar modules. The company also provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers; and sells silicon materials, such as ingots and polysilicon scraps. In addition, it engages in the production and sale of solar cells and modules to developers, distributors, and system integrators; and design and development of solar power projects in Europe, the United States, and China, as well as provides engineering, procurement, and construction services. LDK Solar Co., Ltd. operates in Europe, the Asia Pacific, and North America. The company was founded in 2005 and is based in Xinyu City, t he People?s Republic of China.

Advisors' Opinion:

• [By Roberto Pedone]

  One under-$10 name that's starting to move within range of triggering a near-term breakout trade is LDK Solar (LDK), a vertically integrated manufacturer of PV products for polysilicon, wafers, cells, modules, systems, power projects and solutions. This stock is off to a decent start in 2013, with shares up 13.1%.

  If you take a look at the chart for LDK Solar, you'll notice that this stock has been trending range bound and consolidating for the last month and change, with shares moving between $1.42 on the downside and $2 a share on the upside. Shares of LDK have just started to trend back above its 50-day moving average at $1.55 a share with decent upside volume flows. That move is quickly pushing shares of LDK within range of triggering a near-term breakout trade above a key downtrend line that has acted as resistance for a few months.

  Traders should now look for long-biased trades in LDK if it manages to break out above some near-term overhead resistance levels at $1.78 to $1.83 a share and then once it clears more resistance at $2 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 1.97 million shares. If that breakout triggers soon, then LDK will set up to re-test or possibly take out its next major overhead resistance levels at $2.17 to its 52-week high at $2.32 a share. Any high-volume move above $2.32 to $2.36 will then give LDK a chance to tag $3 to $3.50 a share.

  Traders can look to buy LDK off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at its 200-day moving average of $1.46 or at $1.42 a share. One can also buy LDK off strength once it clears those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

• [By Paul Ausick]

  Notable earnings reports currently on tap for next week: Qihu 360 Technology Co. Ltd. (NASDAQ: QIHU), Avago Technologies Ltd. (NASDAQ: AVGO), LDK Solar Co. Ltd. (NYSE: LDK), Tiffany & Co. (NYSE: TIF), Joy Global Inc. (NYSE: JOY), Campbell Soup Co. (NYSE: CPB), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), Krispy Kreme Doughnuts Inc. (NYSE: KKD), and ReneSola Ltd. (NYSE: SOL).

Top 10 China Companies To Buy Right Now: Clean Diesel Technologies Inc.(CDTI)

Clean Diesel Technologies, Inc. engages in the manufacture and distribution of emissions control systems and products for heavy duty diesel and light duty vehicle markets. The company operates in two divisions, Heavy Duty Diesel Systems and Catalyst. The Heavy Duty Diesel Systems division designs and manufactures verified exhaust emissions control solutions that are used to reduce exhaust emissions created by on-road, off-road, and stationary diesel and alternative fuel engines, including propane and natural gas. Its products include closed crankcase ventilation systems, diesel oxidation catalysts, diesel particulate filters, Platinum Plus fuel-borne catalysts, ARIS selective catalytic reduction reagents, catalyzed wire mesh diesel particulate filters, alternative fuel products, and exhaust accessories. This division offers its products for original equipment manufacturers of heavy duty diesel equipment, such as mining equipment, vehicles, generator sets, and construction equipment, as well as retrofit customers consisting of school districts, municipalities, and other fleet operators. The Catalyst division produces catalyst formulations using its proprietary MPC technology for gasoline, diesel, and natural gas induced emissions. Its products comprise catalysts for gasoline engines, diesel engines, and energy applications. This division supplies its catalysts to automotive manufacturers and large heavy duty diesel engine manufacturers. The company sells its products through a network of distributors and dealers, and its direct sales force worldwide. Clean Diesel Technologies, Inc. is based in Ventura, California.

Top 10 China Companies To Buy Right Now: Bitauto Holdings Limited (BITA)

Bitauto Holdings Limited provides Internet content and marketing services for the automotive industry primarily in the People?s Republic of China. The company offers subscription services to new automobile dealers that enable them to list pricing and promotional information on its bitauto.com Website and partner Websites, and to interact with consumers through its virtual call center, as well as provides advertising service to dealers and automakers on its bitauto.com Website. It also offers listing services to used automobile dealers, which enable them to display used automobile inventory information through its ucar.cn Website and partner Websites; and advertising services to used automobile dealers and automakers with certified pre-owned automobile programs on its ucar.cn Website. In addition, the company provides digital marketing solutions, including Website creation and maintenance, online public relationship, online marketing campaigns, and advertising agent service s. Bitauto Holdings Limited was founded in 2000 and is headquartered in Beijing, the People?s Republic of China.

Top 10 China Companies To Buy Right Now: 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.

Top 10 China Companies To Buy Right Now: 51job Inc.(JOBS)

51job, Inc. provides integrated human resource services primarily in the People?s Republic of China. . The company provides recruitment related advertising services, including print advertising services through 51job Weekly, which is a city-specific recruitment advertising publication that is published once a week and is distributed as an insert in local newspapers and/or on a stand-alone basis; and online recruitment services through its Website, www.51job.com. It also offers other human resource related services, such as business process outsourcing, which consist of social insurance and welfare payment processing, regulatory compliance, and payroll processing; and executive search services, as well as conducts training seminars in the areas of business management, leadership, sales and marketing, human resource, negotiation skills, financial planning and analysis, public administration, manufacturing, secretarial, and other skills for the general public and corporate cl ients. In addition, the company provides campus recruitment services; conducts salary, employee retention, and other human resource related surveys; organize and host annual human resource conferences and events, which include lectures, seminars, workshops, and networking opportunities for human resource professionals; and provides assessment tools to assist human resource departments in evaluating capabilities and dispositions of job candidates and existing employees, aiding employee placement, and allocating employee resources, as well as hiring and support services to employers on select recruitment projects. It provides recruitment and other human resource related services to employers through its sales offices, as well as through its sales and customer service call center. The company was founded in 1998 and is based in Shanghai, the People?s Republic of China.

Top 10 China Companies To Buy Right Now: Universal Travel Group(UTA)

Universal Travel Group, together with its subsidiaries, operates as a travel service provider offering air ticketing and hotel booking services, as well as domestic and international packaged tourism services via the Internet, customer representatives, and kiosks in the People?s Republic of China. It also provides technological solutions to travel reservations, and tour planning and tour guide services. In addition, the company operates TRIPEASY Kiosks, which are placed in hotels, office buildings, banks, shopping malls, and MTR stations for travel booking with credit cards or bank debit cards. Universal Travel Group is headquartered in Shenzhen, the People?s Republic of China.

Top 10 China Companies To Buy Right Now: 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.

Top 10 China Companies To Buy Right Now: China Life Insurance Company Limited(LFC)

China Life Insurance Company Limited provides life, annuities, accident, and health insurance products in China. Its individual life insurance and annuity products consist of whole life and term life insurance, endowment insurance, and annuities. The company also engages in the writing of life insurance business. In addition, it offers group life insurance products, including group annuity products, and group whole life and term life insurance products to enterprises and institutions, as well as universal life products. Further, the company provides short-term insurance products comprising short-term accident insurance and short-term health insurance products; accident insurance products, such as individual accident insurance and group accident insurance; and health insurance products, including defined health benefit plans, medical expense reimbursement plans, and disease specific plans. It distributes its products through its direct sales representatives and exclusive ag ents, as well as through intermediaries comprising insurance agencies and insurance brokerage companies, non-dedicated agencies, bancassurance arrangements, travel agencies, and hotels and airline sales counters. The company was founded in 1949 and is based in Beijing, China. China Life Insurance Company Limited is a subsidiary of China Life Insurance (Group) Company.

China's factories gain steam

China's factories are picking up steam, adding to signs of an economic recovery.

HONG KONG (CNNMoney) China's factory activity accelerated more than expected in September, the latest sign of a rebound in the world's second-largest economy.

HSBC said on Monday that its "flash" measure of sentiment among manufacturing purchasing managers advanced to 51.2, the highest level in six months.

The index is an early gauge of the health of the sector, which is seen as a bellwether for China's export-heavy economy.

It had fallen below 50 for months, but finally perked up again in August with a final reading of 50.1. Any number over 50 indicates a faster pace of manufacturing activity.

China's factories saw "firmer footing" on the back of higher demand, which is expected to remain strong as government stimulus measures continue to boost the economy, said HSBC's China economist Hongbin Qu.

Related story: China's new richest man worth $22 billion

Factory activity gaining steam adds "further evidence to China's ongoing growth rebound," Qu said. "This will create more favorable conditions to push forward reforms, which should in turn boost mid- and long-term growth outlooks."

The mainland's benchmark Shanghai Composite Index spiked 1% on the news. Markets in Hong Kong, which were closed for the morning after a severe typhoon swept through the city, closed 0.6% weaker.

China showed slower growth in the first half of this year, initially sparking worries that it may not meet its 7.5% growth target for the year.

Those fears have begun to ease, with the HSBC report adding to a round of positive economic data, including strong industrial output earlier this month.

Related story: Chinese yuan now among most traded currencies

However, some economists are cautioning that the economic re! covery may lose momentum after November, when the Chinese government holds a party meeting.

Nomura economist Zhiwei Zhang said monetary policy may tighten as the government moves "to shift its focus away from the speed of growth, towards efforts to rebalance the economy and improve the quality of growth."

Jim Cramer's 6 Stocks in 60 Seconds: DPS MAS GILD GRPN TRV PIR (Update 1)

Top Companies To Buy For 2014

Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus". (Updates from 10:42 a.m. ET with closing information.)

NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Thursday.

Goldman Sachs downgraded Dr Pepper Snapple Group (DPS) to sell from neutral. Cramer thought the stock would have done better thanks to its new product lines. DPS fell nearly 1% to $45.79.

Cramer said Masco (MAS) was red-hot going into yesterday's FOMC announcement, and the stock's price action predicted a no-tapering outcome. MAS fell nearly 1% to $22.23. Gilead Sciences (GILD) "has been one of the remarkable ones," and will continue to go higher because of its hepatitis C treatment, Cramer said. GILD was flat at $64.32. Cramer thinks it's "still not too late to buy" Groupon (GRPN). He likes its new management and better business model. GRPN jumped 9% to $12.59. Travelers Company (TRV) was upgraded by FBR Capital Markets. Cramer added that Jay Fishman, the CEO, has been doing a terrific job. TRV rose 1.2% to $86.90. Cramer didn't understand why Pier 1 Imports (PIR) missed on its recent earnings report. He added that this could be a buying opportunity for a fabulous company. PIR dropped 13.9% to $20.33. To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell

RBC Capital Raises Earnings Estimates in SanDisk (SNDK)

Early on Friday, analysts at RBC Capital boosted the near-term estimates on SanDisk Corporation (SNDK), a manufacturer of data storage products, because a fire at SK Hynix’s factory should lead to favorable pricing over the next two quarters.

“We see a favorable pricing environment as a result of SK Hynix’s fire, which threatens to curtail NAND output as the company likely re-purposes production back toward DRAM, resulting in lower than expected incremental NAND wafers vs. company’s plan of 170K/WPM,” RBC Capital analyst Freedman said. “Consequently, we see stronger pricing through EoY before SK Hynix ramps NAND toward normalized prod’t levels as DRAM resources are restored/replaced.”

Best Stocks To Own Right Now

The analysts maintain an “Outperform” rating on SDNK and still see shares reaching $76. This price target suggests a 26% upside to the stock’s Thursday closing price of $60.08. Furthermore, they boosted SanDisk’s 2013 EPS estimates from $4.82 to $4.95.

SanDisk shares were up a fraction during pre-market trading on Friday. The stock is up 38.11% year-to-date.

Monday Closing Bell: Markets Mixed on Apple, Summers

September 16, 2013: U.S. markets opened higher Monday morning after an announcement on Sunday by Larry Summers that he was withdrawing his name from consideration as the next chairman of the Federal Reserve. Summers was seen as more likely to end the Fed's asset purchase program quickly than is Janet Yellen, who is now the betting favorite to be the new Fed chair. U.S. markets closed mixed as Apple Inc. (NASDAQ: AAPL) dragged the tech sector and the Nasdaq Composite down. Longer term, though, Apple might not look so bad.

Asian and European markets closed mostly higer today, while Latin American markets closed mixed.

Tuesday's calendar includes the beginning of the two-day FOMC meeting and the following data releases and events (all times Eastern):

8:30 a.m. – Consumer price index 9:00 a.m. – Treasury international capital (TIC) data 10:00 a.m. – Housing market index 11:30 a.m. – 4- and 52-week bill auctions

Here are the closing bell levels for Monday:

S&P500 1,697.60 (+9.60; +0.257%) DJIA 15,494.78 (+118.72; +0.77%) NASDAQ 3,717.85 (-4.34; -0.12%) 10YR TNOTE 2.880% (+0.0625) Gold $1,317.80 (+9.20; +0.7%) WTI Crude oil $106.59 (-1.62; -1.5%) Euro/Dollar: 1.3335 (-0.0021; -0.15%)

There were no earnings of note today. Adobe Systems Inc. (NASDAQ: ADBE) reports third quarter earnings after markets close tomorrow and Oracle Corp. (NYSE: ORCL) reports third quarter results on Wednesday.

Stocks on the move: Boise Inc. (NYSE: BZ) is up 26% at $12.55 following the company's acquisition by Packaging Corporation of America Inc. (NYSE: PKG) for $12.55 a share ($1.28 billion). Omeros Corp. (NASDAQ: OMER) is up 68.2% at $8.56 following an analyst upgrade. Northern Dynasty Minerals Ltd. (NYSEArca: NAK) is down 33.3% at $1.48 following an announcement from Anglo American plc that it was withdrawing from a massive copper mining project in Alaska.

Top Clean Energy Companies To Buy Right Now

In all, 233 stocks put up new 52-week highs today, while just 17 stocks posted new lows.

Does Pitney Bowes Have a Fighting Chance?

With shares of Pitney Bowes (NYSE:PBI) trading at around $14.56, is PBI an OUTPERFORM, WAIT AND SEE or STAY AWAY? Let's analyze the stock with the relevant sections of our CHEAT SHEET investing framework:

C = Catalyst for the Stock's Movement

To put it simply, Pitney Bowes is a mess. It's difficult to find a company where revenue has consistently declined and the stock price has significantly depreciated since 2009. Pitney Bowes has remained profitable, but that has been mostly due to layoffs. The problem is that Pitney Bowes is mostly laying off its knowledgeable workers opposed to managers. As you might have figured, the company culture is poor.

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According to Glassdoor.com, employees have rated their employer a paltry 2.7 of 5, and only 32 percent of employees would recommend the company to a friend. On the surface, it looks as though leadership is good because 80 percent of employees approve of CEO Marc Lautenbach. However, if you look closer, the CEO rating is only based on 15 ratings whereas the company culture numbers are based on 260 employee ratings. This isn't to say CEO Marc Lautenbach is doing a poor job. Actually, he's most likely doing everything he can to meet analyst expectations. But at what cost?

Two employee quotes sum up the Pitney Bowes situation well. Both of these employees have been working at the company for more than 10 years. These quotes are:

"Organization in flux. Unfortunate downturn for great company."

"A long ways from their glory days."

In addition to layoffs, Pitney Bowes also cut its dividend by 50 percent earlier this year and divested non-core assets. Pitney Bowes still yields 5.20 percent, the profit margin is a respectable 7.30 percent, and operating cash flow is good at $720.97 million. Therefore, Pitney Bowes has a fighting chance. However, an industry decline stacks the odds against the company. Pitney Bowes didn't react and innovate quickly enough to prevent a downward spiral.

Let's take a look at some important numbers prior to forming an opinion on this stock.
T = Technicals Are Mixed

Pitney Bowes has performed well year-to-date, but momentum has slowed.

	1 Month	Year-To-Date	1 Year	3 Year
PBI	-3.13%	42.18%	14.33%	-17.98%
CAJ	-8.33%	-16.35%	-16.83%	-11.64%
RRD	5.80%	53.51%	34.85%	-8.32%

At $14.56, Pitney Bowes is trading below its 50-day SMA, but still above its 200-day SMA.

50-Day SMA	14.94
200-Day SMA	13.46

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E = Earnings Have Been Mixed

Earnings have been inconsistent, but at least the company has remained profitable. On the revenue side, the future doesn’t look bright.

Fiscal Year	2008	2009	2010	2011	2012
Revenue ($) in millions	6,262	5,569	5,425	5,278	4,904
Diluted EPS ($)	2.00	2.04	1.41	3.05	2.21

Looking at the last quarter on a year-over-year basis, revenue declined 4.04 percent, and earnings declined 57.50 percent.

Quarter	Mar. 31, 2012	Jun. 30, 2012	Sep. 30, 2012	Dec. 31, 2012	Mar. 31, 2013
Revenue ($) in millions	1,255.66	1,245.82	1,215.68	1,287.31	1,166.96
Diluted EPS ($)	0.79	0.50	0.38	0.55	0.33

Now let's take a look at the next page for the Conclusion. Is this stock an OUTPERFORM, a WAIT AND SEE, or a STAY AWAY?

Conclusion

Apparently, the majority of analysts like the stock. That's surprising. The best chance investors have is that Pitney Bowes continues to cut costs so the stock can stay afloat while large dividends are paid out. However, over the long haul, there is no business without growth.

World Gaining Faith in Japan as Topix Index Gets Cheaper

Japanese shares are getting cheaper faster than any developed market as global investors regain faith in the world's third-largest economy, with valuations declining even as the benchmark Topix index rallies.

The price-earnings ratio for the nation's companies dropped to 14.3 times estimated profits from 17.1 at the start of 2013 because the Topix's 34 percent surge, the biggest among 24 developed countries tracked by Bloomberg, has failed to keep up with analyst forecasts for 60 percent income growth. Nowhere have valuations contracted faster than in Japan. Multiples have increased in the U.S., France and the U.K.

Bears say best of the rally that began in November is already over because earnings have failed to translate into stock gains for much of the past decade. Bulls say profit estimates are returning to pre-financial crisis levels as the yen weakens amid confidence in Prime Minister Shinzo Abe's policies to end 15 years of deflation and the central bank's promise to double the amount of currency in circulation. Earnings estimates by analysts and companies are based on an even stronger yen.

"This time is for real," Sergi Martin Amoros, who helps oversee $4 billion as chief executive officer of Credit Andorra Asset Management in Andorra, said in a Sept. 6 phone interview. "Their previous efforts were never accompanied by such a decisive monetary policy and the government's willingness to commit to structural reforms is also something we haven't seen before. This is the real one."

Credit Andorra made its first Japanese investments in "many years" this quarter, he said.

Topix Diverges

Earnings growth did little to lift equities after the financial crisis. The Topix ended last year at 859.80, less than a point above its 2008 close. During the four years in between, earnings doubled, while the index never rose more than 16 percent above its starting level, data compiled by Bloomberg show. The yen soared to a post-World War II record in 2011.

Stocks rallied last week, with the Topix climbing 3.8 percent to 1,147.82 for the biggest advance in two months. Sony Corp. and Honda Motor Co. (7267), companies that get more than 65 percent of sales outside Japan, surged more than 5 percent. The benchmark gauge for Japanese shares has gained 34 percent in 2013 and the 59 percent rise since November is the biggest advance in a quarter century.

Record Holdings

"We're positive on Japanese equities," Stephen Corry, Hong Kong-based chief investment strategist at LGT Group, a private banking and asset-management firm that oversees about $115 billion, said in a phone interview Sept. 6. "We'll continue to see more positive earnings revisions. Abe wants to leave a legacy in Japanese politics as the man who altered the economy and that's encouraging."

Foreigners speculating that Abe will succeed in stimulating economic growth and halting deflation have been pouring money into the Tokyo stock market. They added $93 billion to holdings this year, Finance Ministry data show.

Topix companies will earn a combined 80.48 yen a share this year, up from 50.29 yen in 2012 and 38.05 yen in 2011, when Japan had its biggest earthquake and nuclear disaster, according to more than 6,000 analyst estimates compiled by Bloomberg. Fifteen of 18 strategists surveyed by Bloomberg expect the gauge to rise by year-end, with the median forecast for a 11 percent increase to 1,270. Nomura Holdings Inc. is the most bullish, projecting a 31 percent jump to 1,500.

"Japanese stocks still have big upside," said Miyuki Kashima, head of Japanese equity investment at BNY Mellon Asset Management Japan Ltd., which oversees about $13 billion. "The correlation with the currency will weaken and the market will become more linked to earnings, like it was in the past."

The index's ratio of 14.3 times estimated earnings compares with the average valuation of 28.7 over the last decade, based on historical earnings, data compiled by Bloomberg show.

World Valuations

The 2.8-percentage-point narrowing in the ratio comes as multiples expand in developed countries. In the U.S., where a four-year bull market lifted the Standard & Poor's 500 Index (SPX) more than 145 percent to a record high, stocks trade for 15 times forecast 2013 earnings, up from 13.1 in January. Valuations have risen 17 percent to 12.9 for France's CAC-40 Index and 13 percent to 12.8 in the U.K's FTSE 100, according to data compiled by Bloomberg.

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Optimism about Abe's policies has prompted analysts to push profit projections up 16 percent in 2013, leaving them within 6 percent of their level in February 2007, the year before the collapse of Lehman Brothers Holdings Inc., when the Topix reached a 16-year high of 1,816.97. Even though more than $650 billion has been restored to Japanese share values since December, the gauge remains 37 percent below the 2007 level.

Earnings Influence

The yen's 19 percent decline against the dollar since elections were announced in November has been behind much of the profit gain.

The currency still isn't weak compared with its level of 108 per dollar before the collapse of Lehman Brothers Holdings Inc. in 2008, Finance Minister Taro Aso said at a Sept. 6 press briefing in St. Petersburg, Russia, after a Group of 20 nations summit. The yen traded at 99.57 at 5 p.m. in Tokyo on Sept. 6.

Nissan Motor Co., which gets more than 80 percent of its revenue outside of its home market, said in May that a one-yen drop against the dollar boosts operating income by 15 billion yen ($151 million).

The currency has distorted typical relationships between share prices and earnings growth, according to Takashi Miyazaki, general manager of strategic research and investment at Mitsubishi UFJ Asset Management Co., a unit of the nation's biggest bank.

Catching Up

"Share prices should depend on company profits, but stocks in Japan haven't followed the recovery in earnings after the Lehman shock primarily because of the strong yen," Miyazaki said in an Aug. 28 phone interview from Tokyo. "That said, the BOJ's unprecedented easing caused a change in the currency level and because of this we expect shares to catch up."

Analysts boosted annual profit estimates for Japanese companies about 9 percent during the last five months, according to data compiled by Bloomberg. The yen weakened 0.1 percent over that period, falling to its lowest point of 103.74 per dollar on May 22 and trading as high as 93.79 on June 13.

That's a shift from the same period in the last two years, when analysts cut earnings projections as the yen strengthened. A 4.2 percent appreciation against the dollar from April 9, 2012 to Sept. 9 of that year coincided with an 7.8 percent decline in forecasts. Profit estimates fell 14 percent in that part of 2011, when the yen strengthened 9.2 percent.

'Still Attractive'

"Earnings momentum is strong and valuations are still attractive," said Toshiyuki Miwa, head of money management for Japanese equity at the local unit of Invesco Ltd., which oversees $729 billion of assets. "Cyclically, Japan is recovering. That's why the market should be higher."

One reason for caution is heightened volatility. Investors in Japanese shares have endured the biggest swings since the financial crisis. The Topix has risen or fallen by an average of 1.32 percent a day this year, compared with the 10-year average of 1 percent and 1.95 percent in 2008, according to data compiled by Bloomberg.

The index tumbled more than 18 percent from May 22 to June 13, about four times the drop in the MSCI All-Country World Index, on speculation that reduced stimulus for the U.S. economy would slow the rate of global growth.

Overvalued Japan

Japan remains overvalued and will suffer steeper losses should Abe decide to allow a national sales tax to increase, according to Shinkin Asset Management Co., the biggest bear among 18 Japanese strategists surveyed by Bloomberg. It predicts a 30 percent drop for the measure to 800.

"Earnings are already near their peak and likely to start falling soon," said Hiroshi Fujimoto, a fund manager for Shinkin, which manages the equivalent of about $6.4 billion, in a phone interview from Tokyo on Sept. 4. "Expectations for Abenomics, which have been driving the market forward, will fall off, and if the government decides to raise the sales tax, a negative impact on the economy will be unavoidable."

A law enacted last year allows Abe to permit the sales tax to rise to 8 percent in April and 10 percent in 2015 from 5 percent today, or to hold off if he concludes Japan's economy isn't strong enough. Raising the levy would reduce gross domestic product 1.42 percentage points in the fiscal year to March 2015, according to a Sept. 3 report by Daiwa Institute of Research Ltd.

Profit Outlook

Sony, the country's No. 1 consumer-electronics exporter, lifted its revenue outlook by 5.3 percent after first-quarter profit topped estimates. The Tokyo-based manufacturer said in May it's assuming an exchange rate of 90 yen to the dollar for the fiscal year. Its price-earnings ratio has fallen 45 percent to 29.7 since May.

Honda and Fuji Heavy Industries Ltd.'s Subaru led U.S. sales gains in August as auto demand beat projections and Asia-based carmakers, buoyed by Toyota Motor Corp., combined for their best month ever. Honda's deliveries jumped 27 percent, topping analysts' estimates, and Toyota outsold Ford Motor Co. for a second month in a row.

Net income at Toyota will climb to a six-year high for the year through March 2014, Japan's largest company by market value said in August, when it raised its forecast by 8 percent. The automaker's shares trade for 15.9 times reported profit, compared with about 22 just over three months ago.

Auto Companies

The nation's six biggest carmakers reported total net income of about 848 billion yen for the three months ended June, beating analyst estimates by 14 percent.

Exporters in the Topix generally use a yen value of 93.5 per dollar for forecast earnings, according to Okasan Securities Co. The currency hasn't been stronger than that level since April, giving companies a boost for beating estimates, data compiled by Bloomberg show.

Earnings at financial companies, which account for about 19 percent of the Topix index, are also surging. Net income at Japan's three biggest banks climbed 63 percent in the first fiscal quarter from a year earlier on higher fee income and equity investments, according to their earnings statements.

First-quarter profit at Nomura, the country's largest securities firm, soared to 65.9 billion yen from 1.9 billion yen, as the stock rally spurred brokerage commissions and fees from managing share sales.

Abe's Arrows

The yen slumped as Abe's Liberal Democratic Party reclaimed power, promising "three arrows" of monetary easing, fiscal stimulus and reforms to boost the economy. The government will spend 10.3 trillion yen to spur growth and encourage private investment, officials said in January, before the Bank of Japan on April 4 pledged to double the monetary base in two years to reach a 2 percent inflation goal.

Profit at Topix companies this reporting season jumped 93 percent from the previous quarter, compared to a 3.3 percent gain for companies in the S&P 500. Japanese output rose an annualized 2.6 percent in the three months ended June, after gaining 3.8 percent the prior quarter.

"Monetary easing has driven stocks upward and reversed the yen trend, but its impact has only been factored in to a small extent," said BNY Mellon's Kashima. "The other two arrows of Abe's policy program, fiscal stimulus and growth strategy, can also be expected to have a positive effect in the medium to long term. Earnings per share are likely to return to pre-Lehman levels and the Topix will probably do the same."

CoreLogic: Home Prices Climb as Homebuilder Shares Slide

Since hitting a five-year peak in mid-May of this year, shares of homebuilders' stocks have dropped between 15% to 33%. That is about the time that mortgage interest rates began climbing and home prices regained their 2003 to 2004 levels. As both prices and interest rates continue to rise, homebuilders could be looking at further share price declines.

Home prices rose 12.4% in July, compared with the same month a year ago, for a 17th consecutive monthly year-over-year gain, according to research firm CoreLogic Inc. (NYSE: CLGX). Home prices rose 1.8% from June to July. The data include sales of distressed properties, and the index is a non-seasonally adjusted three-month weighted average.

Excluding distressed sales, July prices rose 1.7% compared with June, and the year-over-year price rose by 11.4%. Home prices remain 17.6% below their April 2006 peak when distressed sales are counted, and 12.9% below the peak when distressed sales are excluded.

When Toll Brothers Inc. (NYSE: TOL) reported earnings two weeks ago, earnings per share met estimates, but revenues did not. Still the company forecast full fiscal year revenues up nearly 31%, as its average sales price rose $75,000. Toll Brothers sits at the high-end of the new home market and until mortgage rates rise well above 5% the company could perform well. Shares are down about 16% since mid-May.

PulteGroup Inc. (NYSE: PHM) also expects the housing market to improve. When it reported results in July, the company's CEO said that the U.S. home market is "solidly on track towards a sustained, long-term recovery" and that the rise in interest rates had "little effect" on buyers. Shares are down about 32.5% since mid-May.

The fiscal year for D.R. Horton Inc. (NYSE: DHI) ends this month, and the consensus estimate for the company's earnings per share is $1.29, compared with earnings of $2.77 a share last year. Horton's shares are down about 33% since mid-May.

Rising home prices also affect the home improvement stores, Home Depot Inc. (NYSE: HD) and Lowe's Companies Inc. (NYSE: LOW). Since mid-May, Home Depot stock is down about 2% while Lowe's stock is up nearly 10%. And for the past 12 months, Home Depot is up about 33% and Lowe's is up about 62%. Of the housing stocks, only PulteGroup shows a gain over the past year.

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As home values increase it makes sense for homeowners to update and remodel their homes, whether to sell or to add value for potential sale sometime down the line. Add in the number of existing homes being sold, which new owners often choose to "fix up," and the rise in Home Depot's and Lowe's stocks has a much better chance of continuing than do stock price rises in homebuilders.

CoreLogic expects August housing prices to rise another 12.3% year-over-year and to rise by 0.4% month-over-month. Excluding distressed sales, CoreLogic's year-over-year increase for June is forecast at 12.2% and the month-over-month estimate is forecast to rise by 1.2%.

The company's chief economist noted:

Looking ahead to the second half of the year, price growth is expected to slow as seasonal demand wanes and higher mortgage rates have a marginal impact on home purchase demand.

Including distressed sales, July year-over-year home prices rose the most in Nevada (prices up 27%), California (23.2%), Arizona (17%), Wyoming 16.4%) and Oregon (15%). Only Delaware (-1.3%) posted a year-over-year home price decline, while the other states with the smallest gains include New Mexico (0.03%), Vermont (1.4%), Alabama (2%) and Mississippi (2.2%).

Will 2013 Be a Blockbuster Year for Time Warner?

Time Warner Inc.’s (NYSE:TWX) stock has surged around 23 percent since the beginning of the year. The media giant, which owns Warner Bros, HBO, and CNN, has predicted double-digit growth for the coming year. With its current media holdings and the recent divestiture of its namesake magazine division, can its stock price climb higher? Let’s use our CHEAT SHEET investing framework to decide whether Time Warner is an OUTPERFORM, WAIT AND SEE, or STAY AWAY.

C = Catalysts for the Stock's Movement

Time Warner's first quarter results were met with mixed reviews from analysts and investors. While the company beat earnings estimates, quarterly revenues decreased by 0.6 percent from the previous year's quarter. The compressed revenue figures were mostly due to lackluster performance at the box office from its film entertainment division and lower ad revenue from some NCAA basketball tournament games airing in the fourth quarter of 2012, compared to the previous quarter.

Time Warner enjoyed continued success with its TV entertainment and networks division. HBO shows like Game of Thrones remain fan favorites and are benefitting from growing international viewership as well as new monetization opportunities via streaming video services. Revenues from Warner Brothers should grow this quarter as Time Warner picks up profits from recently released box office hits including The Great Gatsby and Man of Steel. Additionally, the recent spinoff of long struggling Time Inc. will allow Time Warner to focus on growing its TV and film divisions.

E = Earnings Are Increasing Year-over-Year

Time Warner's earnings per share have increased over the last three quarters. The most recent quarterly number of $0.75 showed a significant increase from the previous year's quarterly earnings of $0.59. While the earnings growth paints a pretty picture for investors, revenue growth has been sluggish. Time Warner attributes the 0.6 percent year-over-year decline in quarterly revenues of $6.94 billion to lagging growth in its film and TV entertainment division, despite a 4 percent revenue increase in its TV networks division. CEO Jeff Bewkes believes that the divestiture of its namesake unit, Time magazine, will free up more resources to focus on growing its film and TV entertainment division.

	2013 Q1	2012 Q4	2012 Q3	2012 Q2	2012 Q1
Qtrly. EPS	$0.75	$1.21	$0.86	$0.44	$0.59
EPS Growth YoY	27.12%	57.94%	10.26%	-25.42%	0.00%
Revenue Growth YoY	-0.57%	-0.35%	-3.20%	-4.07%	-4.43%

E = Excellent Relative Performance to Peers

While chief competitors, Discovery Communications (NASDAQ:DISCA) and CBS (NYSE:CBS), shouldn't be underestimated, Time Warner offers the most value, especially to the dividend investor. Time Warner has increased its dividend steadily throughout the last several years, even increasing its dividend during the financial crisis. It now yields a best-in-class 1.90 percent and—with a payout ratio of 33 percent—the company has room for future increases. If you want high growth you should be looking at Discovery—with a projected growth estimate of 33.50 percent in the next year and the healthiest operating margin at 40.81 percent—but you will have to pay for it at a price to equity multiple of 32.55 versus Time Warner's multiple of 18.74.

	TWX	DISC	CBS
Trailing P/E	18.74	32.55	20.13
Growth Est. (2013)	12.20%	33.50%	19.20%
Dividend Yield	1.90%	N/A	1.00%
Operating Margin	22.77%	40.81%	21.80%

T = Technicals on the Stock Chart are Strong

Time Warner is currently trading at around $60.97, well above its 200-day moving average of $55.89 and its 50-day moving average of $58.50. The stock has experienced a strong uptrend in the past year—up 60 percent in the past 12 months. Time Warner is trading around its 52-week high of $61.73 that it achieved back in May.

Conclusion

While Time Warner is expensive relative to its historical price to earnings multiple, it is still relatively cheap compared to competitors like Discovery and CBS. There is talk of a possible merger between Time Warner and Liberty Media, which would boost the share price, but that’s just speculation at this point. Many analysts predict Time Warner will move toward the mid- to high-sixties in the near-term. Revenues should benefit from an impressive lineup of summer films. Additionally, Time Warner's competitive advantage is relatively safe as there are high barriers-to-entry in creating profitable media content. With a healthy and growing dividend to boot, Time Warner is an OUTPERFORM.

Profiting In Bear And Bull Markets

Both bear markets and bull markets represent tremendous opportunities to make money, and the key to success is to use strategies and ideas that can generate profits under a variety of conditions. This requires consistency, discipline, focus and the ability to take advantage of fear and greed. This article will help familiarize you with investments that can prosper in up or down markets.

Ways to Profit in Bear Markets
A bear market is defined as a drop of 20% or more in a market average over a one-year period, measured from the closing low to the closing high. Generally, these market types occur during economic recessions or depressions, when pessimism prevails. But amidst the rubble lie opportunities to make money for those who know how to use the right tools. Following are some ways to profit in bear markets:
Short Positions: Taking a short position, also called short selling, occurs when you sell shares that you don't own in anticipation that the stock will fall in the future. If it works as planned and the share price drops, you must buy those shares at the lower price to cover the short position. For example, if you short ABC stock at $35 per share and the stock falls to $20, you can buy the shares back at $20 to close out the short position. Your overall profit would be $15 per share.
Put Options: A put option is the right to sell a stock at a particular strike price until a certain date in the future, called the expiration date. The money you pay for the option is called a premium. As the stock price falls, you can either exercise the right to sell the stock at the higher strike price or sell the put option, which increases in value as the stock falls, for a profit (provided the stock moves below the strike price).
Short ETFs: A short exchange traded fund (ETF), also called an inverse ETF, produces returns that are the inverse of a particular index. For example, an ETF that performs inversely to the Nasdaq 100 will drop about 25% if that index rises by 25%. But if the index falls 25%, the ETF will rise proportionally. This inverse relationship makes short/inverse ETFs appropriate for investors who want to profit from a downturn in the markets, or who wish to hedge long positions against such a downturn. Ways to Profit in Bull Markets
A bull market occurs when security prices rise faster than the overall average rate. These market types are accompanied by economic growth periods and optimism among investors. Following are some appropriate tools for rising stock markets:
Long Positions: A long position is buying a stock or any other security in anticipation that its price will rise. The overall objective is to buy the stock at a low price and sell it for more than you paid. The difference represents your profit.
Calls: A call option is the right to buy a stock at a particular price until a specified date. A call option buyer, who pays a premium, anticipates that the stock's price will rise, while the call option seller anticipates it will fall. If the stock price rises, the option buyer can exercise the right to buy the stock at the lower strike price and then sell it for a higher price on the open market. The option buyer can also sell the call option in the open market for a profit, assuming the stock is above the strike price.
Exchange-Traded Funds (ETFs): Most ETFs follow a particular market average, such as the Dow Jones Industrial Average (DJIA) or the Standard & Poor's 500 Index (S&P 500) and trade like stocks. Generally, the transaction costs and operating expenses are low, and they require no investment minimum. ETFs seek to replicate the movement of the indexes they follow, less expenses. For example, if the S&P 500 rises 10%, an ETF based on the index will rise by approximately the same amount. How to Spot Bear and Bull Markets
Markets trade in cycles, which means that most investors will experience both in a lifetime. The key to profiting in both market types is to spot when the markets are starting to top out or when they are bottoming. Following are two key indicators to look for:
Advance/Decline Line: The advance/decline line represents the number of advancing issues divided by the number of declining issues over a given period. A number greater than 1 is considered bullish, while a number less than 1 is considered bearish. A rising line confirms that the markets are moving higher. However, a declining line during a period when markets continue to rise could signal a correction. When the line has been declining for several months while the averages continue to move higher, this could be considered a negative correlation, and a major correction or a bear market is likely. An advance/decline line that continues to move down signals that the averages will remain weak. However, if the line rises for several months and the averages have moved down, this positive divergence could mean the start of a bull market.
Price Dividend Ratio: This ratio compares the stock's share price with the dividend paid out over the past year. It is calculated by dividing the current stock price by the dividend. A decline in the ratio of 14-17 could indicate an attractive bargain, while a reading above 26 may signal overvaluation. This ratio and its interpretation will vary by industry, as some industries traditionally pay high dividends, while growth sectors often pay little or no dividends. Conclusion
There are many ways to profit in both bear and bull markets. The key to success is using the tools for each market to their full advantage. In addition, it is important to use the indicators in conjunction with one another to spot when both bull and bear markets are beginning or ending.

Short selling, put options, and short or inverse ETFs are just a few bear market tools that allow investors to take advantage of the market weakness, while long positions in stocks and ETFs and a call option are suitable for bull markets. The advanced decline line and price dividend ratio will allow you to spot market tops and bottoms.

Great American Group Kicked Off Liquidation Sales at Eight Orchard Supply Hardware Stores in California (OTCBB:GAMR, OTCMKTS:CRWE)

Great American Group, Inc. (GAMR)

Today, GAMR has shed (-9.46%) down -0.035 at $.335 with 160 shares in play thus far (ref. google finance Delayed: 9:31AM EDT July 8, 2013), but don't let this get you down.

Great American Group, Inc. has been selected to handle store closing sales at eight Orchard Supply Hardware locations, offering significant product discounts in the Citrus Heights, Fairfield, Huntington Beach, Lone Tree, Long Beach, Midtown, Newark and Vacaville stores

Orchard previously reported on June 17, 2013, that it had reached an agreement through which Lowe's Companies, Inc. will acquire the majority of its assets but will allow Orchard to continue day-to-day operations as a separate, standalone business with its brand, strategy and management team intact. To facilitate the acquisition agreement and restructure its balance sheet, Orchard filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. The agreement with Lowe's comprises the initial stalking horse bid in the Court-supervised auction process under Section 363 of the Bankruptcy Code.

Great American Group, Inc. (GAMR) 5 day chart:

Crown Equity Holdings Inc. (CRWE)

Together with their digital network of Websites, Crown Equity Holdings Inc. (OTCMKTS:CRWE) (www.crownequityholdings.com ) offers advertising branding and marketing services as a worldwide online multi-media publisher. The company focuses on the distribution of information for the purpose of bringing together a targeted audience and the advertisers that want to reach them.

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Today, (July 8) The Company remains (0.00%) +0.000 at $.02 with 395,500 shares in play thus far (ref. google finance Delayed: 2:36PM EDT July 8, 2013).

CRWE's daily range thus far is at ($.03 – $.015) currently at $.02 would be considered a (+1233.33%) gain above the 52 wk low of $.0015. The stock is up +566.67% since the concerning dates of January 15, 2013 – July 8, 2013. +566.67% is the 6 month high and rightly so.

Recently (June 26), CRWE Files 10-Q. To view click URL http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9371051

Recently (June 26), CRWE Files 10-K. To view click URL http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9371048

Crown Equity Holdings Inc. 5 day chart: