Top Stocks For 5/3/2012-11

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Wednesday Dec 2, 2009

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HZHI, HCEI, PWRM, CVAT, PGCX, PSFT, TAXS, CSRH, AQNM

PGCX, PanGenex Corporation, PGCX.PK

PanGenex Focuses on Developing Immune-Boosting Spirulina-Based Products

PGCX pursues business opportunities in the $70 billion dollar nutraceutical and dietary supplement industry. With a focus specifically on the cardiovascular health segment, PGCX develops and markets sector leading, patented or patent pending, condition specific nutraceuticals and topical over-the-counter (OTC) drugs and personal care products. Each product is scientifically formulated to address specific health conditions throughout the population.

PGCX is actively identifying new product development opportunities that will initially focus on the immune-boosting properties of Spirulina. The Company recently entered into a licensing agreement to begin producing the highest quality, purest form of Spirulina using a state-of-the-art closed loop growing system.

With a 60% protein content, Spirulina is a fresh water algae that contains more protein than red meat and soy. Spirulina also contains high concentrations of the antioxidant beta carotene, iron, vitamin B-12, and the rare gamma-linolenic acid (GLA), an essential fatty acid for cellular health. Over the past 15 years, extensive research on Spirulina supports a growing world acceptance of the algae for use in dietary supplements. Scientists in the U.S., Japan and China have independently discovered that small amounts of Spirulina, when added to animal feed, greatly helped animals resist infections.

More about PGCX at www.pangenex.com

HCEI, Healthy Coffee International Inc., HCEI.PK

Healthy Coffee Starts Pre-Launch in Australia, New Zealand and Samoa and Now Has a Total of Close to 8,000 Independent Distributors

HCEI is focused on bringing health to the world’s largest and most popular drink, coffee. The company’s proprietary formulas combine the health benefits of Ginseng, Reishi Mushroom, and other top quality ingredients with the world’s finest coffee beans to create a line of deliciously healthy instant gourmet coffee drinks. HCEI is well positioned in the market place at the intersection of three mega-billion dollar industries: coffee, wellness and energy drinks, and has quickly established offices in 9 countries and distributors in 29 other countries through its marketing subsidiary Healthy Coffee USA, Inc.

HCEI ’s marketing subsidiary Healthy Coffee USA, Inc. started its pre-launch in Australia, New Zealand, Samoa and now has a total of close to 8,000 independent distributors, which generated total revenues of almost $1 million.

More about HCEI at www.HCEI.biz

HZHI, Horizon Health International Corp., HZHI.PK

HZHI through its US and Canadian Subsidiaries is servicing all of North America through its E-Commerce System, providing products and services as a �Home, Office and Workplace Medical Equipment Specialist� offering a complete end-to-end shopping experience for aids for daily living, disability products, ergonomic solutions and leading-edge assistive technology through online retail stores across North America.

On Nov. 20, 2009 HZHI has executed a Definitive Agreement with Exmovere Holdings Inc. of McLean, Virginia USA, which it owns and controls the global rights to certain Products, specifically the Telepath Zigbee biosensor wristwatch and the Chariot personal mobility device

The Telepath Zigbee biosensor wristwatch uses infrared sensors to detect heart rate without a chest strap, 3-d accelerometers to model human movement, and a variety of metallic sensors to detect skin temperature and skin conductance. The �Telepath� transmits these data via computer or cell phone to online data centers, care givers and/or emergency services.

The Chariot personal mobility device can be implemented by millions of people suffering from mobility problems. The Chariot has several competitive advantages. It is the only, truly hands free, self-balancing vehicle. It also serves as a unique platform for integrating vital sign, emotion monitoring and environmental sensors for hospitals, military and hazardous materials workers. It is a new wearable device that will help people with physical challenges to get around.

The market for mobility devices is extremely large; in 2008, Canada exported US$4.2 million worth of mechanically propelled wheelchairs and mobility scooters. That number represents a 114.1% gain over the $1.9 billion in powered mobility aids sold 4 years earlier in 2004. Canadians imported $24.1 million worth of power wheelchairs and mobility scooters last year. Canada imported almost $20 million more in battery-assisted mobility imports than it shipped as exported goods.

HZHI and Exmovere Holdings Inc. will be conducting demonstrations of the “Chariot” and the “Telepath” (a BioSensor Wristwatch) to the Investment Community in Canada, commencing in January 2010.

Te Door is Opening to Enter the Multi Million Dollar Mobility Aid and BioSensor Products Industry for HZHI

Furthermore, HZHI confirm that the previously announced e-commerce websites www.horizonhealthandsafety-canada.com (formerly: www.medichair-calgary.com), for the Canadian customers and, www.horizonhealthandsafety- usa.com for the US customers are NOW OPERATIONAL.

More about HZHI at www.horizonhealthandsafety.com.

PSFT, Powersafe Technology Corp., PSFT.PK

Recently, PowerSafe Technology Corporation (PSFT), announced that two Small Business Innovation Research (SBIR) projects submitted by its wholly owned subsidiary Amplification Technologies Inc. (www.ampti.net) (ATI) have been competitively selected by NASA. Phase I of each project has a value of approximately $100,000. With respect to each proposal, upon completion of Phase I, ATI will be eligible to seek up to an additional $600,000 in Phase II funding.

�We are extremely gratified that NASA continues to support our breakthrough near infra-red technology� said Jack Mayer, President of Powersafe. �We are proud of our highly talented team, and look forward with these projects to continue to develop solid state devices for a broad range of applications, including free space optical communication, remote sensing, and night vision.

The first project is titled �Very High Gain and Low Noise Near Infrared Single Photon Counting Detectors and Arrays�. Under this project, new photon-counting photodetectors and photodetector arrays will be developed to advance the state of the art in remote sensing and atmospheric sensing applications. The proposed detectors are to operate at 1550 nm to 1800 nm eye safe wavelengths and have very high internal gain, extremely low excess noise, high detection efficiency and potentially low cross-talk and after pulsing.

The second project is titled �High Performance Negative Feedback Near Infrared Single Photon Counting Detectors & Arrays�. Under this project, new photon-counting photodetectors and arrays are proposed, to advance the state of the art in long range space optical communications. The proposed detectors are to operate at 1000 nm to1600 nm wavelengths and have high detection efficiency, low jitter, high bandwidth, very high internal gain and extremely low excess noise.

About PowerSafe Technology Corp. (PSFT.PK)

Based in New York, PowerSafe Technology, thru its wholly owned subsidiary ATI, (www.amplificationtechnologies.com ) seeks to transform the field of low-level signal detection. The company�s patented platform semiconductor technology has the potential to offer unparalleled and far-reaching benefits to industries such as medical diagnostics, drug development, scientific instrumentation and homeland security. The technology has been successfully used to develop extremely sensitive detectors of low levels of light and the company believes its detectors will be used in many existing applications as well as open up new markets. ATI�s technology is patented to encompass detection of signals other than light, and could in principle be used to create highly sensitive biological, radiological, electrical, and chemical sensors.

To view PSFT Investor Information: www.psftinc.com

Contact
Jack Mayer, Pres.
PowerSafe Technology Corp.
(718) 951-8021
mayer@amplificationtechnologies.com

PWRM, Power 3 Medical Products Inc, PWRM.OB

Power3�s Goldknopf Presents at International Molecular Diagnostic Meeting in Beijing

- President, Chief Scientific Officer Keynotes and Chairs Session on November 20, 2009, Meets with Leading Biotech Company, Explores Development and Launch of Diagnostic Tests in Chinese Market -

Power3 Medical Products, Inc. (OTCBB: PWRM), a leader in neurodegenerative disease and cancer biomarkers and diagnostic tests reports that the company�s President and CSO, Dr. Ira Goldknopf, delivered an invited Keynote address and chaired a session on �Biomarkers and Diagnostics in Personalized Medicine (Track 6-4),� at the BIT Life Sciences 2nd International Congress and Expo of Molecular Diagnostics in Beijing, China, November 19-21, 2009. The Theme of the meeting was �New Leadership of Personalized Medicine.� .

Dr. Goldknopf described the company�s unique ability to employ Power3�s blood protein biomarkers to differentially diagnose mild Alzheimer�s and Parkinson�s diseases, distinguish between them, distinguish from normal controls, distinguish from patients with Alzheimer�s and Parkinson�s like disorders (disease controls) and distinguish drug na�ve and drug treated patients. He also presented results for early diagnosis of invasive breast cancer with and without ductal carcinoma in situ, distinguishing between them, distinguishing them from normal and benign controls. The final topic covered was the discovery of biomarkers in bone marrow cells from chronic myelogenous leukemia patients that predict whether they would respond to the drug imatinib mesylate (Gleevec).

�Power3 has begun confidential discussions with a flagship Chinese Biotechnology Company with an eye to co- develop high throughput blood tests for the Chinese market,� said Dr Goldknopf. �We intend to establish a major worldwide presence.�

�We are extremely proud and excited about the interest generated by Dr. Goldknopf�s presentation of our results at this international meeting,� said Ms. Helen Park, Power3�s CEO, �particularly the new findings in clinical validation of the company�s biomarkers and unique blood tests and the continuing discussions leading to their commercialization in China.�

More about PWRM at www.power3medical.com

CSRH, Consorteum Holdings Inc, CSRH.OB

CSRH will build on its extensive expertise within the Payments and Transaction Industry in North America, Europe and Internationally. By identifying new technologies and trends in the changing global marketplace, Consorteum Holdings Inc. aims to increase revenues in existing markets, enter new markets, and deliver unique products and services more effectively and efficiently.

CSRH has proceeded to launch its consumer stored value rebate card. The consumer rebate card program will offer manufacturers and retailers a new way to process mail-in rebates that ensures increased customer loyalty and decreased overhead costs.

Quent Rickerby, President & COO of CSRH, said, �This new program will significantly reduce the costs of managing mail-in rebates. The process of mailing checks to consumers continues to be very expensive and only provides for a one-time interaction with the recipient. With this new program, the consumer receives a co-branded gift card that can be used at any merchant accepting credit cards.�

CSRH will work directly with manufactures and retailers to reduce the administration costs associated with mail- in rebate programs while providing a new way to increase consumer awareness. Additional revenue and cost-saving opportunities will be available to all parties through unspent funds remaining on the card after expiration.

Mr. Rickerby added, �By providing a co-branded gift card, the manufacturer or retailer has the ability to increase and reinforce their marketing brand every time the card is used. The card also provides the consumer with a choice of where they want to spend their rebate.�

More about CSRH at www.consorteum.com

Consorteum Holdings Inc.
+1 866-824-8854
investors@consorteum.com

CVAT, Cavitation Technologies Inc, CVAT.OB

CVAT is a �Green-Tech� company, established in 2006 to become a world leader in the development of new cutting edge technologies for the vegetable oil refining, renewable fuel, petroleum, water treatment, wastewater sanitation, food and beverage, and chemical industries.

CVAT continues to identify new applications for its technology. All of the applications are in industries where there is a need to solve environmental problems, reduce operating costs and improve profitability.

The technologies CVAT is developing will have international impact. For that reason, CVAT needed to file International Patents to protect its Nano Cavitation Technologies & Intellectual Properties worldwide.

CaviGulation - Cavitation Technologies� Solution to the Water Crisis, Refining the Desalination Process

CVAT announced its latest development the CaviGulation system, designed for physico-chemical reactions used in water treatment. With water well on its way to becoming one of the hottest commodities, an obvious solution is to take the salt out of seawater. Desalination technology has been around for thousands of years.

On average there is roughly 130 grams of salt per gallon in sea water. Desalination can reduce salt levels to below 2 grams per gallon, which is the limit for safe human consumption.

CaviGulation is a complex process with a multitude of mechanisms operating synergistically to remove pollutants from the water. The CaviGulation reactor is a multi stage flow-through electro-cavitation process on the nano molecular level. The effectiveness of CG technology is 1000-fold over conventional systems and allows the complete elimination of all micro-organisms (including spores), viruses and protozoa. The first actual practice of desalination involved collecting the freshwater steam from boiling saltwater. The energy required for this type of process today makes it prohibitively expensive on a large scale. In the last decade, seawater reverse-osmosis has matured into a viable alternative to thermal desalination. But even with membranes, large amounts of energy are required to generate the high pressure that forces the water through the filter. Maintenance costs, addition of additives to prevent periodic buildup and replacement of the fouling membranes are the biggest challenge facing desalination. To produce 1,000 gallons of desalinated seawater it can cost around $4. Our goal is to cut this cost in half. CaviGulation is CTI�s proprietary process and is scalable to virtually any size; we feel it could be a solution for the desalination process utilizing membranes. Currently, between 10 and 13 billion gallons of water are desalinated worldwide per day. That�s only about 0.2 percent of global water consumption, but the number is drastically increasing, the demand is rising and the problem needs immediate attention on a large scale while being cost effective at the same time.

More about CVAT at www.cavitationtechnologies.com

For Further Information Contact:

Cavitation Technologies

(818) 718-0905

info@cavitationtechnologies.comI

R@cavitationtechnologies.com

TAXS, TaxMasters, Inc., TAXS.OB

TAXS is the IRS tax relief company.

Federal tax debt is serious and the IRS is a terrifying opponent for anyone with tax problems. TAXS deals with the IRS every day and they are familiar with the laws they must follow when collecting revenue. TAXS offers tax relief services specifically designed to reduce and eliminate federal tax debt.

Recently, TAXS Filed Form 10-Q:

HIGHLIGHTS:

- Revenues for the three months ended September 30, 2009 increased by $236,759, or 3.0%, from $7,975,655 for the three months end September 30, 2008 to $8,212,414 for the same period in 2009.

- Revenues for the nine months ended September 30, 2009 increased by approximately $12,584,782, or 87.5% , from approximately $14,385,985 for the nine months end September 30, 2008 to approximately $26,970,767 for the same period in 2009.

To view TAXS complete Form 10-Q CLICK HERE

Recently, TAXS implemented a proprietary system to increase productivity and improve customer service. The system, known as P3, cataloged and analyzed the TAXS� internal Processes, Procedures, and Policies (P3) in an effort to identify and target opportunities to increase efficiency. The P3 Report was finalized in April and consists of a comprehensive assessment including efficiency recommendations linked to objective standards and measurable criteria. After experimental implementation of the recommended changes in early Q2, TAXS has seen steady improvements in workflow, speed of service, and customer service management throughout Q2 and Q3.

�The results speak for themselves,� said Michael Wallace, General Counsel for TAXS. �P3 revealed our strong points and identified areas where we could improve. I�m proud of the TaxMasters staff for rising to the challenge of completing this exercise. Our gains in customer service alone speak volumes.�

Initially aimed at increasing productivity, P3 provided a formal process flow for every area of the Company, which is the basis of a new proprietary control and workflow management software application currently undergoing operational testing. Both P3 and the new workflow management application are direct results of TAXS� commitment to manage growth and reduce costs. Squeezing out inefficiencies and improving customer service remain at the heart of the company�s efforts to grow gracefully while experiencing what it calls a fourth quarter surge.

More about TAXS at: www.txmstr.com

AQNM, Aquentium, Inc., AQNM.OB

Aquentium (OTCBB: AQNM) is a diversified company with an emphasis on green technologies. The company currently has interests in non-chemical sanitation equipment, alternative energy, waste-to-energy, water treatment, food safety, mining, building materials, affordable housing, re-deployable emergency housing, and recycling.

Aquentium reported that the company is now offering distributorship opportunities in the State of New York for its complete line of ozone sanitation and water treatment equipment.

The uniqueness of the Aquentium equipment is that ozone is over 50% more effective than chemicals and over 3,000 times faster acting than chemicals. Ultimately, Aquentium believes that we have better technology to combat e-coli, salmonella, listeria and other bacteria or viruses than what most companies are currently using.

The Aquentium non-chemical sanitation equipment is designed for both cost savings and improved safety standards for food and beverage processors, hotels, restaurants, hospitals, and schools. The goal at Aquentium is to eliminate chemicals and hot water during the sanitation process.

A further goal is to help prevent contamination of food. With the Aquentium non-chemical process, we can extend the shelf life of food products which means higher profits for processors and less waste for the consumer.

Ozone is also safer for the workers since there are no chemicals to handle. Ozone is generated from Oxygen and is non-toxic. With the Aquentium ozone equipment, a food and beverage processor does not have to stop processing to do plant sanitation. This increases plant production. Furthermore, processors can expect an ROI in under 12 months using the Aquentium equipment.

Ozone was approved by the FDA and USDA as food additive in 2001,� stated Aquentium President Mark Taggatz.

More about AQNM at www.aquentium.com

Contact

Mark Taggatz
Aquentium, Inc.
PO Box 580943
North Palm Springs, CA 92258
USA

email: ir@aquentium.com
Phone: 951-657-8832

Keep a close eye on PGCX, CVAT, PWRM, HZHI, HCEI, PSFT, TAXS, CSRH and AQNM, do your homework, and like always BE READY for the ACTION!

This Tech Stock Has 1 Big Advantage

The following video is from today's MarketFoolery podcast, in which host Chris Hill and analysts Charly Travers and Bill Mann discuss the latest business news. In the wake of Cisco Systems' latest earnings, the guys analyze the companies building the Internet and examine what separates the best from the rest.

Please enable Javascript to view this video.

Juniper Networks and Cisco Systems are two companies poised to take part in an explosion of Internet traffic that is expected to quadruple by 2015! The Motley Fool has compiled a new report called "The Motley Fool's Top Stock for 2011," which highlights a company that's set to profit handsomely from the booming amounts of data flowing across the Internet, no matter which company delivers the video. Thousands have requested access to this special free report, and now you can access it today at no cost. You can get instant access to the name of this company by�clicking here -- it's free.

Top Stocks For 2011-12-9-3

Crown Equity Holdings Inc. (CRWE)

VoIP stands for Voice over Internet Protocol. It’s a system that converts analog signals into digital signals so that a phone call can be made over the internet. Basically, when used in conjunction with the internet, it uses an internet connection for routing phone calls. In order for VoIP to work, broadband is often necessary. Broadband is a telecommunications system where a wide band of frequencies is available to transmit information. This wide bandwidth allows multiple types of information to be transmitted simultaneously and quickly. So, many people can be on the same VoIP network without the system crashing.

Crown Equity Holdings Inc. (CRWE) recently announced that it has entered into a joint venture to deploy VoIP (Voice over Internet Protocol) technology delivering voice, video and data services to residential and commercial customers. The joint venture company is Crown Tele Services Inc. which was a wholly-owned subsidiary of Crown Equity Holdings Inc. Crown Equity Holdings Inc. will own fifty percent (50%) interest in the joint venture.

Commenting on the joint venture, Kenneth Bosket, President of Crown Equity Holdings Inc., said: “We are excited to deliver VoIP communications solutions specifically designed to meet the business and residential market needs in this fast-growing global market.”

Voice over Internet Protocol (VoIP) was developed in order to provide access to voice communication in any place around the world. In most places, voice communication is quite costly. Consider making a phone call to a person living in a country half the globe away. The first thing you think of in this case is your phone bill! VoIP solves this problem and many others.

Crown Equity Holdings Inc., together with its digital network, currently provides electronic media services specializing in online publishing, which brings together targeted audiences and advertisers.

Crown Equity Holdings Inc. offers internet media-driven advertising services, which covers and connects a range of marketing specialties, as well as search engine optimization for clients interested in online media awareness.

For more information, please visit their website: http://www.crownequityholdings.com

Arkansas Best Corporation (Nasdaq:ABFS) has expanded its portfolio of global solutions to include Ocean LTL: a single-contact, expedited less-than-container-load/less-than-truckload (LCL/LTL) supply chain solution for customers who import from manufacturing centers in China, Hong Kong and Taiwan.

Arkansas Best Corporation, through its subsidiaries, engages in motor carrier freight transportation in the United States.

Alliance Resource Partners LP (Nasdaq:ARLP) and Alliance Holdings GP, L.P. (NASDAQ:AHGP) announced that Brian L. Cantrell, Senior Vice President and Chief Financial Officer, will participate in a panel discussion at the RBC Capital Markets’ 2011 MLP Conference in Dallas at approximately 2:30 p.m. Central time on Thursday, November 17, 2011.

Alliance Resource Partners, L.P. engages in the production and marketing of coal for utilities and industrial users in the United States. It operates nine underground mining complexes, which offer low, medium, and high-sulfur coal.

Network Equipment Technologies Inc. (Nasdaq:NWK) will present at the 8th Annual SRA Fall Growth Stock Conference at the Le Meridien Hotel in San Francisco on November 15, 2011, at 11:30 a.m. PT. More information about the conference can be found at: www.sracap.com.

Network Equipment Technologies, Inc. (NET), together with its subsidiaries, engages in the design, development, manufacture, and sale of voice and data telecommunications equipment for multi-service networks and associated services used by government organizations, enterprises, and carriers worldwide.

Thursday Apple Rumors: 13-Inch Retina MacBook Pro Coming

Here are your Apple rumors and AAPL news items for today:

13-Inch Retina Display MacBook Pro to Arrive in October: Having just launched a 15-inch MacBook Pro with a retina display at its Worldwide Developers Conference (WWDC), Apple (NASADAQ:AAPL) will offer a 13-inch MacBook Pro with a retina screen in October, Apple Insider says. Issues with the smaller Retina MacBook Pro’s assembly prevented its debut at the WWDC. As with the larger Retina MacBook Pro, the 13-inch model will have solid state memory, no optical drive, but will be even thinner, Apple Insider says.

Apple Continues to Shine in The Market

Time Publications Now Sell Digital Subscriptions on�iPad: Apple and Time Warner (NYSE:TWX)�have settled differences relating to subscription sales and the company’s publications are now selling digital subscriptions though the iPad’s Newsstand, AllThingsD. That means that iPad owners can now buy subscriptions to digital editions of Sports Illustrated, Time and People, directly on their devices, instead of purchasing single issues. No one is certain what led to the breakthrough between the companies, or what concessions were offered by either side, AllThingsD noted.

Apple Developing Interchangeable Lenses for Mobile Device Camera: Apple has filed for a patent�for a back panel for mobile devices, like the iPhone, that would let users change camera lenses, Apple Insider notes. In the filing, Apple notes that users if cell phone cameras often want features like zoom lenses to take better pictures. The company appears to be developing a system with a removable back panel, so that users can reconfigure the camera’s optics to meet their needs, Apple Insider says.

For more from the company, check out our previous Apple Rumors stories.

Coherent Beats on Both Top and Bottom Lines

Coherent (Nasdaq: COHR  ) reported earnings on July 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q3), Coherent beat slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped slightly.

Margins dropped across the board.

Revenue details
Coherent reported revenue of $196.4 million. The seven analysts polled by S&P Capital IQ hoped for a top line of $194.1 million on the same basis. GAAP reported sales were 6.9% lower than the prior-year quarter's $210.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.83. The seven earnings estimates compiled by S&P Capital IQ forecast $0.74 per share. GAAP EPS of $0.72 for Q3 were 2.7% lower than the prior-year quarter's $0.74 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 40.9%, 190 basis points worse than the prior-year quarter. Operating margin was 13.4%, 20 basis points worse than the prior-year quarter. Net margin was 8.8%, 20 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $209.4 million. On the bottom line, the average EPS estimate is $0.90.

Next year's average estimate for revenue is $787.4 million. The average EPS estimate is $3.16.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 77 members out of 90 rating the stock outperform, and 13 members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Coherent a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Coherent is buy, with an average price target of $67.40.

Over the decades, small-cap stocks, like Coherent have provided market-beating returns, provided they're value priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: Two Small Caps the Government Won't Let Go Broke." Get instant access to this free report.

• Add Coherent to My Watchlist.

Monday’s Apple Rumors — Teeing Up T-Mobile

Here are your Apple rumors and news items for Monday:

T-Mobile iPhone: There’s been little doubt that, Apple’s (NASDAQ:AAPL) famous smartphone would be available on T-Mobile’s network when it is absorbed by AT&T (NYSE:T) in early 2012. Based recent images appearing on the BGR �site, it may even be sooner. Images of a prototype white iPhone shows Apple’s mobile software running on T-Mobile’s 3G network. The phone’s lock screen has a security message that reads “Confidential and Proprietary” and includes a phone number to call if the device is found by a third party. With rumors that Apple plans on greatly expanding the iPhone line this fall by introducing a lower-priced “iPhone Nano” model as well as a possible 4G iPhone, it wouldn’t be surprising if Apple also tried to use another carrier to extend the 3G iPhone’s lifespan.

White iPhone: Not quite a year later than expected, Apple will finally release a white model of its iPhone. AppleInsider reported on Sunday that both AT&T and Verizon (NYSE:VZ) subscribers will be able to buy the white iPhone “within the next week.” While manufacturing problems reportedly held up the release, it appears that further delays into 2011 are part of Apple’s larger strategy to reorganize its product release schedule. Apple has released just a single iPhone model in past calendar years, typically in the third quarter. With the February release of the Verizon iPhone, an April release of the white iPhone, and a rumored September release for the iPhone 5, it appears that Apple is testing new ways to keep new release hype at a fever pitch through the full year rather than during a single quarter.

Rinse Your iTunes: If you can’t beat them, join them. RealNetworks (NASDAQ:RNWK), one of the original digital music and media businesses, has settled on a novel way to stay relevant. While the company’s Rhapsody music subscription-service is already an alternative to iTunes, the company has released new software called Rinse that acts as an organizational tool for iTunes rather than a competing music player and archive tool. The $39 program will search a user’s iTunes library while eliminating duplicate files, renaming mislabeled files, and acquiring missing artwork. As Peter Kafka noted Monday, Rinse may not have any special utility yet, but as Apple rolls out its Cloud-based iTunes service, a tool that monitors precisely what is saved on your personal hard drive will increase in value.

As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at�@ajohnagnello�and�become a fan of�InvestorPlace on Facebook.

Pfizer Boosts Dividend, Expands Buyback (Update 1)

Pfizer(PFE) is looking to return some cash to shareholders.

See if (PFE) is traded within the Action Alerts PLUS portfolio by Cramer and Link

The Dow component said Monday its board has approved a 10% increase in its quarterly dividend to 22 cents a share from the current payout of 20 cents, along with an additional $10 billion buyback authorization. Pfizer also made some news after the close, naming Ian Read, its current president and chief executive officer, to the added role of chairman. Read succeeds George Lorch. "While the dividend level remains a decision of the board, we continue to target a dividend payout ratio of approximately 40 percent by the end of 2013," Read said in a statement. "In addition, we currently expect to repurchase approximately $5 billion of our common stock in 2012, with the remaining authorized amount available in 2013 and beyond." The higher dividend is to be paid on March 6 to shareholders of record on Feb. 3. The 22-cent quarterly payout equates to an annual dividend of 88 cents, which implies a forward yield of 4.3% at the current share levels. The pharmaceutical company lost exclusivity of its most successful, cholesterol-fighting drug, Lipitor, on Nov. 30.Pfizer's stock closed at $20.39 on Monday, down 17 cents. --. >To submit a news tip, send an email to: tips@thestreet.com.>To follow the writer on Twitter, go to Alexandra Zendrian.

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U.S. trade deficit widens sharply in November

WASHINGTON (MarketWatch) � After declining for four straight months, the U.S. trade deficit widened in November, bringing the trade gap up to its highest level since June.

The nation�s trade deficit widened 10.4% in November to $47.8 billion, the Commerce Department said. This is the largest increase since May.

Exports fell 0.9% to $177.8 billion in November, the second straight drop after hitting a record high in September. Imports rose 1.3% to $189.7 billion in November. Imports have been treading water after hitting $226.2 billion in May.

Analysts surveyed by MarketWatch had expected a deficit of $43.6 billion.

ECONOMY AND POLITICS
Asia losing appetite to shop
Manufacturing slowdown ahead?
There are signs the manufacturing sector, which has led the economic recovery, is about to take a breather, in large part due to a weak global economy cutting back exports.
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� Election 2012 /conga/story/misc/dc.html221707

The sharp increase in the deficit could cut the government�s estimate of fourth-quarter growth.

A higher deficit subtracts from growth because Americans are buying more foreign goods.

Economists now estimate that the economy grew at a 3.2% annual rate in the fourth quarter, up from a 1.8% growth rate in the third quarter. The government will release its first estimate of fourth-quarter growth later this month.

The trade deficit could become an issue in this year�s presidential election.

Some economists argue that the trade gap is the most significant barrier to job creation in the U.S. economy.

�Every dollar that goes abroad to purchase oil or Chinese consumer goods, and does not return to purchase U.S. exports, is lost domestic demand that could be creating American jobs,� said Peter Morici, an economics professor at the University of Maryland, in a recent article.

On Wednesday, Alan Krueger, President Barack Obama�s chief economist, disputed this argument in a speech to the Center for American Progress, a Washington think-tank. Krueger noted that the U.S. experienced strong growth in the late 1990s despite globalization.

The Obama White House has championed free trade. It pushed Congress to approve three long-stalled free trade agreements with South Korea, Colombia and Panama.

Republican presidential candidate Mitt Romney has promised to take a tougher stance on trade than the Obama administration, including slapping tariffs on Chinese imports if the country does not allow its currency to strengthen.

The U.S. trade deficit in goods with China reached $26.9 billion in November compared with $25.1 billion in the same month last year. The trade gap with China is set to hit a new record high in 2011.

Treasury Secretary Timothy Geithner travelled to China earlier this week to urge government officials to do more to open their country to exports.

The U.S. exported $9.9 billion of goods to China in November, the highest level since December 2010. However, imports from China to the U.S. totaled $36.8 billion in the same month.

November details

An increase in foreign oil imports was a big driver in the increase in imports in November.

The value of U.S. crude oil imports rose to $27.3 billion in November from $26.0 billion in October as the average price of a barrel of oil rose to $102.50 from $98.84 in the previous month. This is the first increase in the price of oil in six months.

That�s not likely to be the case for December�s data, however.

The Labor Department separately on Friday reported that imported fuel prices fell by 0.5% in December after a 3.7% jump in November.

Excluding petroleum, the U.S. trade deficit widened 4.7% to $34.8 billion.

The Cheapest Stocks on the Dow: 3M

The following video is part of our "Motley Fool Conversations" series, in which Industrials editor/analyst Isaac Pino discusses topics across the investing world.

In today's edition, Isaac takes a cue from Fool colleague Dan Dzombak, who recently described a time-tested tool for uncovering companies with above average cash flows. Isaac applies this tool to to identify the cheapest Dow components and finds 3M near the top of the list. A diversified manufacturer of everything from Post-it Notes to health care equipment, 3M's approach to beating its competitors is all about innovation.�And the number of business lines keeps on growing. 3M recently acquired Federal Signal for $110 million in cash to venture into hardware and software used in electronic tolling, parking, and law enforcement. At the same time, the company leverages its materials technologies to design a natural gas fuel tank with Chesapeake Energy. For an everyday investor, 3M might be one of the most fail-safe stocks due to its pristine balance sheet and international presence.

With Europe in shambles, many investors may be nervous about investing in a company that's internationally focused, but they shouldn't be. Emerging markets are giving new life to established American companies with deep pockets. As these industry titans look abroad for more sales, they aren't starting with a blank slate -- they're bringing their operational excellence to new markets and thriving. To uncover these picks today, we invite you to read a copy of our free report:�"3 American Companies Set to Dominate the World."�The report won't be available forever, so we invite you to click here to get your copy today!

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Flood of foreclosures looms

NEW YORK (CNNMoney) -- The golden age for foreclosure squatters may soon be coming to an end now that the $26 billion mortgage settlement has been approved.

The settlement, agreed to by the nation's five largest mortgage lenders, is expected to speed up the foreclosure process by providing stricter guidelines for the banks to follow when repossessing homes.

The banks involved include Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500), Citibank (C, Fortune 500), Wells Fargo (WFC, Fortune 500) and Ally Financial.

Many foreclosures have been in limbo since fall 2010 following the so-called robo-signing scandal, when banks allowed employees to sign off on thousands of foreclosure documents a month with little verification.

Lenders hit the pause button on foreclosures because they "were afraid that anything they did would be under a microscope," said Eric Higgins, a professor of business at Kansas State University.

As a result, borrowers who were seriously delinquent on their loans have been able to stay in their homes for months or even years without making a single payment. Nationwide, the average time it takes to foreclose on a home -- from the first missed payment to the final bank repossession -- stretched to 370 days during the first quarter, almost twice as long as it took five years ago, according to Daren Blomquist, the marketing director at RealtyTrac.

Foreclosure free ride: 3 years, no mortgage payment

In some states, delinquent borrowers have been squatting in their homes much longer. In Florida, the average time was 861 days, and in New York it was 1,056 days -- close to three years.

"Perhaps a million foreclosures could have been pursued last year but weren't," said Rick Sharga, executive vice president for real estate investment company, Carrington Holdings.

But that's all about to change, he said. "We're going to see an increase in the speed of foreclosures and a higher number of foreclosure starts."

In fact, there are indications that the pace of foreclosures are already starting to pick up.

While overall foreclosure activity was down during the first quarter, filings were up 10% in the 26 states where foreclosures must undergo court scrutiny, according to RealtyTrac.

It was in these judicial states that the processing of foreclosures slowed the most following news of the robo-signing scandal, said Blomquist.

Many banks in these states stopped filing foreclosures unless they were extremely confident it would pass muster in the court. (In non-judicial states, foreclosures are reviewed by a trustee, which is a third party such as a title company and less likely to parse every legal document).

But now lenders can move more confidently, said Brandon Moore, RealtyTrac's CEO.

In the judicial state of Indiana, for example, foreclosure filings were up 45% year-over year. And in Florida, they were up by almost 26%, according to RealtyTrac.

The $26 billion crapshoot

"The dam may not burst in the next 30 to 45 days, but it will eventually burst, and everyone downstream should be prepared for that to happen -- both in terms of new foreclosure activity and new short sale activity," Moore said in a statement.

The resulting flood could bring home prices down even further -- yet another impetus for the banks to clear out their foreclosure pipeline as quickly as possible, said Kansas State's Higgins.

Then, industry thinking is, the housing market would be able to get back to normal and home prices could eventually find their true value. Some industry analysts, such as the chief economist for listing site Zillow, Stan Humphries, are predicting that could happen as soon as the end of the year.

Zillow estimates that home values nationwide will fall another 3.7% by the end of 2012, and that price will likely bottom out by early 2013.

Foreclosures: America's hardest hit neighborhoods

Should home prices hit a bottom then stabilize, it would push many potential buyers off the fence, according to Mike Fratantoni, a vice president at the Mortgage Bankers Association. House hunters would no longer be afraid of investing in assets that were losing money.

"The market is already on the verge of turning the corner on prices and this will help," said Fratantoni.

Have you tried to qualify for a principal reduction or a modification under the foreclosure settlement? We want to hear from you. Send your story and contact information to Leslie Christie and you could be featured in an upcoming article on CNNMoney. 

Find homes for sale

3 Deals to Watch: BofA Pizza, Cracker Barrel Poison Pill

Merrill Lynch's appetite for everything pizza looks like it will deliver $800 million to a cash-hungry Bank of America (BAC), three years after its takeover.

Bank of America is in talks to sell its ownership of NPC International, the largest franchisee of Pizza Hut restaurants to The Carlyle Group for $800 million according to reports by Bloomberg. The largest U.S. bank by assets inherited the network of pizza selling stores when it purchased Merrill Lynch for $50 billion at the height of the financial crisis just over three years ago.The Charlotte, N.C.-based lender is looking to raise additional capital as its stock hovers near post crisis lows on worries it will face additional liability for mortgages sold to investors before the housing bust. Divestitures like the potential Pizza Hut restaurant sale are a way for the bank to add precious capital without issuing new stock or debt.On September 12, Bank of America released an initiative called "Project New BAC" where the bank would "become a more focused, leaner, and more efficient company," according to the press statement. To trim down, the bank announced it will cut nearly 30,000 jobs over a span of years. "The company continues to sell non-core business units and assets that don't support its strategy, thereby strengthening the balance sheet, and improving capital and liquidity," the company also said.Chief Executive Brian Moynihan recently sold a big piece of its stake in China Construction Bank for $8.3 billion, at a gain of $3.3 billion, and its Canadian credit card operations for $7.3 billion. In a September Barclays Capital conference Moynihan said, "We've been selling all the non-core assets that we've accumulated over the years." Pizza, while a staple food for many, appears to fit under Moynihan's definition of "non-core." DST Global and Silver Lake are buying a $1.6 billion piece of Alibaba Group previously owned by company insiders. The deal gives the Chinese e-commerce conglomerate, which is the largest online business trading market in the world and is partially owned by Yahoo!(YHOO) a $32 billion valuation. Temasek, the Singapore private wealth fund, Yunfeng, the private equity firm founded by Alibaba Chief Executive Jack Ma, and other shareholders are included in the investment group that is taking close to a 5% stake in the owner of premier Chinese online retail brands alibaba.com, Taobao, Taobao Mall and Alipay, its payment processing division.

Jack Ma, Alibaba's founder and CEO said in the statement announcing the deal that "This liquidity program will allow our people to focus on growing our business and continuing to create value."

The company is selling a stake to new investors so that existing owners and employees can cash out a portion of their holdings. All employees are going to keep a significant portion of their ownership in Alibaba when the sale, which is expected to close in four to six weeks, is completed according to a spokesperson familiar with the deal.The Financial Times reported that the private share sale makes any potential initial public offering for Alibaba unlikely.For Silver Lake, the Alibaba stake represents its third Chinese investment since 2010. Silver Lake managing director Ken Hao said in the deal announcement, "We have developed a strong relationship with Alibaba's management over several years, and this commitment reflects our confidence in the company's leadership position and the growth of the e-commerce market in China."It's also a deal that puts Silver Lake at odds with Yahoo!, a company it has been rumored to be interested in taking over. Yahoo currently over a 40% stake in Alibaba and has fought with CEO Ma over how to manage the Hangzhou, China- based company founded in 1999. Former Yahoo! Chief Executive Carol Bartz butted heads this year with Alibaba CEO Jack Ma for spinning Alipay without key investor approvals. The split put one of Alibaba's most valuable assets out of the reach of some investors like Yahoo!. All parties settled in July by agreeing that if Alipay were to do an IPO, it would transfer at least $2 billion and as much as $6 billion to the parent Alibaba. The deal may be good news for Yahoo! because the new investors are valuing its Alibaba stake at nearly $14 billion, not far below its overall market value of $17.7 billion. Shares rose when news broke on AllThingsD yesterday afternoon. In early trading, Yahoo! shares are up over 1.5% to $14.22.

Cracker Barrel Old Country Store (CBRL) today said it will be using a poison pill to fend off its largest shareholder from increasing its stake. Sadar Bilgari, the activist investor who owns other restaurant chains Steak n Shake and Western Sizzlin applied with regulators to buy as much as 49.9% of the company's stock. The move prompted Cracker Barrel management to adopt a poison pill, which companies use to discourage hostile takeovers by diluting shares held by the acquirer.Currently, Bilgari owns 9.3 percent of the Lebanon, Tennessee old country store themed dining chain and retailer started in 1969.Bilgari is an aggressive player when making bids for companies in distress. In 2007, he clashed with Steak n Shake management and has also failed at previous takeover attempts. After taking the company over, Bilgari in 2010 changed the company name to Bilgari Holdings(BH) and its ticker on the New York Stock Exchange. Previously, Steak n Shake traded under "SNS."In a letter filed to regulators earlier this month, Bilgari wrote about Cracker Barrel management that "it has become increasingly clear to us that top leadership has shaped a culture that lacks, inter alia, accountability, transparency, and stock ownership." Shares of Cracker Barrel are down over 26% this year. Readers Also Like: >> 4 Resilient Tech Stocks for a Tough Economy >To order reprints of this article, click here: Reprints

The Washington Post vs. The Education Department

The Washington Post (WPO) couches it in investor-relation-press-release language, but there it is: The Obama Education Department, at the behest of short-sellers, is getting ready to punish for-profit colleges (including the Washington Post Company's Kaplan University) whose students take advantage of the Obama administration's own debt forbearance programs:

The Company's public comments will include, among other technical concerns, its belief that the currently proposed Gainful Employment NPRM is drafted in such a manner that it disproportionately impacts schools with students from low socio-economic backgrounds. For example, the proposed regulation defines repayment to include only payments of loan principal made by students during the last fiscal year. Borrowers who are meeting their legal obligations but are not currently repaying principal – such as those who are paying interest only, or those whose loans are in deferment or forbearance – would not be considered to be in repayment. Further, students who have consolidated their loans are counted as a negative in this calculation of "repayment." This narrow definition of repayment also penalizes schools whose students are participating in the income-based-repayment plans championed by the Obama administration.

The Company estimates that Kaplan's institutional repayment rates would be roughly 20 to 30 percentage points higher if it were not penalized for student participation in these government-sponsored debt management programs.

In a sense, the Washington Post is just getting what it asked for when it editorialized in favor of the federal takeover of student loans as part of health care "reform." The newspaper said then:

It's no government takeover. Opponents would make it appear as though Democrats want bureaucrats to destroy a functioning private market for federally backed student loans. In fact, the only reason any private company is in the business of originating such loans is because of government support, and propping up that artificial market is expensive. In the end, it's a better deal for taxpayers to have the government lend money directly to students.

Post Company board members, who include Warren Buffett, Melinda Gates, and Columbia University's Lee Bollinger, should ask the author of that editorial whether he or she really thought that the government would take over the student loan business without using the opportunity to impose onerous conditions on the colleges that educate the students financed by the loans.

Talk about bureaucrats destroying a functioning private market, look at what has happened to Washington Post Company stock, which was trading above $500 a share in May, and now, mainly because of the proposed Department of Education regulations, has declined to about $315 a share. Anyone who shorted it made a lot of money, but it's a scary thing when some bureaucrat's proposed regulations, along with short-seller-generated press coverage, can shave nearly 40% off the value of a serious publicly traded company like the Washington Post.

There Could Be More Upside For Cobalt International

Friday, December 16, 2011 was an exciting day for shareholders of Cobalt International Energy (CIE). The stock soared 22%, jumping from $9 to $11 per share on news that Cobalt would continue its drilling program off the coast of Angola, Africa. On Tuesday, the stock was up another 37% on news that it struck oil. By Wednesday afternoon, the stock was sitting at $15.43 per share.

Cobalt is drilling on a complicated pre-salt formation on Angola Block 21that could prove to hold one of the largest discoveries since the recent pre-salt finds off the coast of Brazil. Cobalt has a 40% working interest in each prospect in the block.

Cobalt is drilling with Diamond Offshore Corporation’s (DO) semisubmersible rig, Ocean Confidenceat a cost of $360,000 per day. Today (Wednesday), Cobalt extended its contract with Diamond through mid-March of 2012 in order to drill two more wells. Competition for rigs is on the rise. Ocean Confidence is destined for the Gulf of Mexico for use by Murphy Oil (MUR) later in 2012.

Cobalt also owns a 40% interest in Angola Block 20 that it intends to explore later in 2012 and 2013.

The wildcatters have partnered up with Angola-based Nazaki Oil & Gas, which holds a 30% stake, and state-owned Sonangol Pewquisa & Producao, also with a 30% interest, and Alper Oil which holds the remaining 10%.

Cobalt appears to be well-connected—pardon the pun—with a shareholders roster that reads like a who’s who of international finance and intrigue. Top shareholders include the Carlyle Group/Riverstone Holdings, Goldman Sachs (GS), and First Reserve, each holding 21% of Cobalt’s outstanding shares, the Leland Stanford Foundation with 9%, and George Soros, who holds 1.7%.

The talent pool running Cobalt is top notch.Chairman of the Board and CEO Joseph H. Bryant has been drilling for oil for the past 30 years. He was the former President and COO of Unocal, and served BP (BP) as Chief of Exploration (Angola) Ltd., and president of BP Canada Energy. Mr. Bryant is also a board member of the American Petroleum Institute. James Farnsworth, Cobalt's Chief of Exploration was also a BP man. He ran BP's global exploration operations in America, Africa, South America, Russia, and the Far East. Michael D. Drennon, Excutive VP and General Manager of Cobalt Angola is a former Vice President for Parker Drilling (PKD).

This is a highly-speculative investment no matter how you slice it and dice it. With no proven oil or gas reserves, and quarterly losses stacking up, Cobalt’s third quarter 10Q reads like a “let me discourage you from investing in me” report.

More conservative investors will want to excercise caution with this stock. But for those inclined to high risk and wishing to participate in the Wild West of Angolan wild-catting, Cobalt might prove worthy of the speculation. However, the would-be speculator needs to fully understand the meaning of “dry-hole” and what such an event could do to the price of this stock. It is one thing to find oil, and it is another to successfully bring it to the surface.

I suspect the excitement building up over the potential pay-off will further propel the price of this stock upwards. With Goldman Sachs raising its target price from $14 to $21 and more news coming over the next few months, momentum players may wish to take a look on a pullback, given its four day run-up. Should Cobalt strike oil on its next prospect, this stock could be a real eye-popper. Should it fail, the price of this stock could drop faster than Newton's apple... OK, maybe just as fast.

For Seeking Alpha readers that read my recent article entitled Profiting from the Goldman Sachs A-List, I would like to note that I ran across Cobalt for the first time while perusing Goldman Sachs’ 13F filing and running a few screens against the list looking for high beta stocks that are currently outperforming the market on risk-on days.

Disclosure: I am long CIE.

Whitney Tilson Explains General Growth, Iridium and Berkshire Holdings

Recently, Whitney Tilson and Glenn Tongue's hedge fund T2 Partners gave a presentation at the Boys and Girls Harbor Investment Conference that took place on February 3rd, 2010. Their presentation included a look at the macro situation and three stock picks: Berkshire Hathaway (BRK.A), General Growth Properties (GGWPQ.PK), and Iridium (IRDM). When we covered T2's investor letter, we saw T2 they had large long positions in all three names.

Embedded below is T2's recent presentation on all three stocks:




You can download the .pdf here.


Additionally, last week we posted Whitney Tilson & T2 Partners' analysis of Berkshire Hathaway (BRK.A / BRK.B). Below you will find their revised slide-deck:




You can download the Berkshire presentation via .pdf here.

In a separate post this morning we'll also be covering Bill Ackman & Pershing Square's presentation on Kraft (KFT) from the same investment event, so stay tuned.

Original article

Futures Gain After Rosier Economic Data

Stock futures rose early Thursday after some positive momentum in Europe, another decrease in weekly jobless claims, and a strong earnings report from FedEx (FDX). European stocks rose on Thursday, with the FTSE 100 up 1.2%, and the Euro gained slightly. Swiss authorities said they would keep a minimum exchange rate of 1.2 franc per Euro despite pressure to raise the ratio.

In the U.S., weekly jobless claims fell by 19,000 to 366,000, the lowest level since May 2008. The current account deficit slid to 2.9% of GDP in the third quarter from 3.3% in the second quarter. The December Empire state index of manufacturing in New York state hit its highest level since May. And producer prices rose 0.3% in November, ahead of expectations, although the core rate rose 0.1%, below expectations for 0.2%

Dow futures rose 112 points to 11,873; S&P 500 futures rose 13 points to 1,219.

FedEx rose 4.2% after beating earnings expectations.

Silver Bullion Online – Things You Ought To Know

Larger numbers of people are getting attracted to precious metals like gold, platinum and silver because they are stable form of investments. Among the precious metals, silver is the most affordable. Moreover, they are quite simple to buy and to sell. Though their value may not be as high as platinum or gold, they still have a good appraisal value. Also, there’s a high demand of silver because this metal has several uses to man. It can be used in medicine, dentistry, fashion and the arts and engineering. Furthermore, it is recommended to understand that silver is available in different forms. One may invest in coins, bars, jewelries and bullion. The aim of this article is to talk about how silver bullion is traded online.

Why Transact Over The Internet

Unlike before, silver dealers ought to search far and wide just to sell their silver bullion. During the ancient time, people need to travel by foot or by horse in order to travel to one place to another one. Having that said, it’s very hard to make transactions and also to earn money throughout the olden times. Thanks to the advancement of technology, an individual can simply sign in online and begin buying silver bullion. It’s so simple and very efficient.

Different Types Of Silver Bullion

It is valuable to know that a bullion coin is different from the coins utilized in a regular trade or commerce. Bullion coins are made of precious metal struck and kept as an investment. Often these coins are minted after the year 1800. Generally, they tend to have a purity of not less than 900 thousandths. Another way to tell if the coin is bullion is to check if coin has been a legal tender in their respective country of origin.

Two of the very popular silver bullion are the American Silver Eagle and the Canadian Maple Leaf. The American Eagle are available in gold, silver and platinum. Nevertheless, the Canadian Maple Leaf series are made of gold, silver, platinum and palladium. Australia, Austria and China have their very own versions of silver bullion coins.

Learning The Specs Of The Coins

Bullion coins are featured in various weights and measurements. It is very important when buying online, you understand the various designs of the coins. Several resources can be found online that can help you in your pursuit of getting the right type of silver bullion.

Value Of Silver Bullion

Silver bullion can be described as coins minted by the government. They are minted in a variety of weights and the silver coins value is determined by the weight of a certain coin and the spot price of the silver. When buying silver bullion coins online, make it a point to determine the present premium value of the metal. Also, compare costs offered by various companies. Check if there are actually other charges like transportation fees and insurance cost. Also be aware that whenever you pick out the bullion coins in bulk you are entitled for discounts. Classically, if you will purchase in bulk, expect to pay a premium around ten percent over the spot price. Among the many disadvantages, of investing in silver bullion is the high premium associated with them.

Silver bullion are incredibly in demand these days. They’re good additions to one’s collection and investment portfolio as well. If you like to invest in one of these metal, be sure that you may do your research first and check the different types of bullion available. The chief advantage of this coin is that it is cheaper plus they are also available even online.

Sell gold for the best price at the maximum price? Pay a quick visit to the link to find out more.

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Home Builders Jump on Sentiment Data

Home builders are shooting higher this morning after the National Association of Home Builders said that its gauge of sentiment among builders rose 4 points to 25 in January, the highest level since 2007. It’s still well below “normal” levels (a 50 reading is considered breakeven), but high enough to give a jolt to stocks in the industry. Hovnanian (HOV), for instance, was recently up 9.8%.

�Builder confidence has now risen four months in a row, with the latest uptick being universally represented across every index component and region,� noted Bob Nielsen, chairman of the NAHB and a home builder from Reno, Nevada. �This good news comes on the heels of several months of gains in single-family housing starts and sales, and is yet another indication of the gradual but steady improvement that is beginning to take hold in an increasing number of housing markets nationwide — and that has been shown by our Improving Markets Index. Policymakers must now take every precaution to avoid derailing this nascent recovery.�

Hong Kong ETF Targeting Growth

After taking a beating in its export industries last year, Hong Kong, along with its related exchange traded fund, could be set to produce some solid numbers. However, the numbers may really only reflect the fact that the economy is stabilizing.

The University of Hong Kong estimates growth of 4% to 5% for Hong Kong’s economy in 2010, with a projected growth of 5% in the first quarter, according to China View. Alan Siu, executive director of the university’s Hong Kong Institute of Economics and Business Strategy, says that Hong Kong’s economy will only rebound back to its levels before the crisis struck in 2008.

Siu also cautions that the rebound in the first quarter of this year as compared to the same quarter of last year should not be construed as a sign of robust growth, but rather as evidence of a gradual recovery.

Hong Kong’s economy relies heavily on its export industry. Exports plummeted 12.1% in 2009, but is expected to make a swift reversal of 10.8% in the first quarter of 2010. Unemployment is projected to drop to 5.0% in the first quarter and CPI inflation is estimated to increase to 0.7% in the first quarter.

Real estate broker CB Richard Ellis Group Inc. (CBG) believes that Hong Kong’s luxury home prices could rise 20% this year as the economy grows and supply of new homes remains low, reports Chia-Peck Wong for Bloomberg. The property market is being supported by a rising employment rate, low mortgage costs, near-zero interest rates and increased demand from mainland China.

However, the Hong Kong Central Bank warns of possible “sharp corrections” in asset prices if fund flows reverse. The government has taken measures to reduce fund flows like raising minimum down payment requirements and suspending mortgage insurance for rental properties in an attempt to stop a property bubble. [Is an asset bubble forming in Hong Kong?]

CBRE Group calculated that luxury home prices in Hong Kong surged 51% last year.

• iShares MSCI Hong Kong Index (EWH)
  

Mixed Results In The B2C Market In China

In my article Online Retail Market Booming In China, I outlined how the total transactions in China's B2C market reached $38.03 billion in 2011, an increase of more than 130% compared with 2010.

Click to enlarge

China's first quarter online shopping transactions were at 228.2 billion yuan, down 0.8% over the previous quarter, but up 40.9% over the same period last year.

Transactions in the B2C market totaled 62.2 billion yuan (27.2%), or around $9.9 billion. Tmall (previously Taobao Mall) leads the B2C-market with a 51.5% market share. As we can see from the above, Amazon (AMZN), Dangdang (DANG) and the others are competing each other for the rest of the pie.

E-Commerce China Dangdang Inc dropped to a 10-week low in New York last Friday, after disappointing forecasts. The stock closed at $5.45. The B2C retailer, posted $172.1 million in revenues and $15.8 million in net losses for Q1 2012. Revenue was up 58%, and the losses were posted against the backdrop of a $3.1 million net profit during the same period a year ago. Increased spending, which was equivalent to 90% of revenue, and compliance spending pushed Dangdang into negative territory.

Dang's CFO Conor Yang stated in an investor conference call on Thursday that Dangdang's revenue in the second-quarter would climb to 1.18 billion yuan or $187 million. That's below the average forecast of 1.27 billion yuan of 8 analysts polled by Bloomberg.

The B2C wars are still ongoing in China and it's still to early to say who is winning. Dangdang could be a high-flyer in the long run, but for now I would bet on Amazon.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

What to Do Before Dividend Taxes Jump

Apple (AAPL)'s dividend announcement this past week is good news for income investors, but bad news might be lurking around the corner.

More From Jack Hough

• An Insider Trading Loophole Congress Didn't Close
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• Think Stocks Have Risen Too Far? Try Utilities

Unless Congress takes action, the top tax rate for the highest earners on most dividends, currently 15%, is set to jump to a whopping 43.4% next year. That is a maximum income-tax rate of 39.6% -- since dividends will once again be taxed as regular income -- plus a 3.8% tax on investment income as part of the health-care overhaul passed in 2009.

Higher dividend taxes could take some luster off dividend-paying stocks -- and because the market is forward-looking, the fear is that their prices will fall sooner rather than later.

Dividend investors could protect themselves in the short term by placing options bets on a broad decline in dividend-paying shares, but that strategy is expensive. A better course for most is to seek a balance of income and growth stocks. In the income-stock portion, investors should favor those that promise to boost their dividend payments over those that merely have the largest "dividend yields," or payments as a percentage of their stock prices.

Apple's new dividend payments of $2.65 each quarter, set to begin July 1, give it a yield of 1.8%, calculated against its current stock price.

Apple is hardly alone in bowing to growing investor demand for yield. Last year brought a record 22 dividend initiations by companies in the Standard & Poor's 500-stock index. There have been five so far in 2012.

There is plenty of room for more and bigger payments. While 397 S&P 500 companies pay dividends, the average since 1980 is 413 companies. And payments as a percentage of profits are only 30% now, versus a historical average of 52%, according to S&P.

All told, dividend spending by S&P 500 companies should increase 15% this year, estimates Howard Silverblatt, senior index analyst at S&P.

Of course, dividends are only as valuable to investors as the portion left after taxes. The current 15% rate cap comes from a 2003 series of temporary rate reductions that were extended through 2012. On Jan. 1, the rate cap expires, unless Congress acts.

No one knows how the politics will unfold. Jeremy Zirin, chief equity strategist at UBS (UBS), guesses -- and it is only a guess -- that politicians will settle for "the path of least resistance" with another short-term extension of the cuts sometime after the election.

For purposes of planning and prudence, investors should assume higher dividend taxes are coming and focus on the likely fallout. History offers some useful clues.

Companies increased their dividend payments substantially after the 2003 tax cut, but lower taxes weren't necessarily the cause. A 2010 study done for the Federal Reserve Board found that higher profits were the likelier driver. A case in point: Real-estate investment trusts, whose generous dividends don't qualify for the current lower rates, also increased their payments.

The findings suggest the dividend floodgates won't necessarily slam shut in response to higher taxes come 2013 or beyond.

Investors also should remember that a dividend-tax rise concentrated on high earners would affect only a small percentage of the population, while a large portion of dividend stocks are held in pensions and other tax-deferred accounts. That should damp the effect of tax increases on the broader market, says Jim Russell, chief equity strategist at U.S. Bank.

An analysis by Savita Subramanian, head of U.S. equity at Bank of America Merrill Lynch, found "no evidence that the change in the dividend-tax rate had any significant impact on the relative performance of dividend-oriented strategies." Ms. Subramanian found that dividend growth matters much more than tax-rate changes in determining future stock prices.

Dividend investors might thus want to sell shares of some high-yielding companies that aren't boosting their payments and add some with moderate yields and steady payment growth.

One easy way is to buy a mutual fund focused on companies with growing dividends, such as T. Rowe Price Dividend Growth or Vanguard Dividend Growth . The T. Rowe Price fund ranks among the top one-quarter of its peers for 10-year performance. The Vanguard fund ranks among the top one-tenth.

UBS's Mr. Zirin says investors who have too much money in the utility and telecom sectors, which investors tend to seek out for high yields, might want to diversify into consumer staples and industrials, which have lower yields but stronger growth characteristics. Exchange-traded funds like iShares Dow Jones U.S. Industrial Sector (IYJ) and Consumer Staples SPDR (XLP) can offer quick sector diversification.

Joel Dickson, head of Vanguard Group's active quantitative equity department, says focusing exclusively on dividend stocks is a mistake, because it can leave investors overexposed to large-company value stocks. That was fine last year when the Dow Jones U.S. Select Dividend Index returned 12.4%, versus a 2.1% return for the S&P 500. But so far this year, the dividend index has underperformed.

With or without the threat of a dividend-tax increase, investors with a dividend-heavy portfolio should consider balancing their approach by adding something as simple as a broad-market index fund, Mr. Dickson says.

Vanguard Total Stock Market, Schwab U.S. Broad Market (SCHB) and iShares S&P 1500 (ISI) are low-fee choices. And unlike next year's tax rates, next year's fees are something investors can control.

Also See:

• An Insider Trading Loophole Congress Didn't Close
• Dividend Investors to Get 15% Raise
• Think Stocks Have Risen Too Far? Try Utilities

1 Reason to Expect Big Things From Astronics

Here at The Motley Fool, I've long cautioned investors to keep a close eye on inventory levels. It's a part of my standard diligence when searching for the market's best stocks. I think a quarterly checkup can help you spot potential problems. For many companies, products that sit on the shelves too long can become big trouble. Stale inventory may be sold for lower prices, hurting profitability. In extreme cases, it may be written off completely and sent to the shredder.

Basic guidelines
In this series, I examine inventory using a simple rule of thumb: Inventory increases ought to roughly parallel revenue increases. If inventory bloats more quickly than sales grow, this might be a sign that expected sales haven't materialized. Is the current inventory situation at Astronics (Nasdaq: ATRO  ) out of line? To figure that out, start by comparing the company's inventory growth to sales growth. How is Astronics doing by this quick checkup? At first glance, pretty well. Trailing-12-month revenue increased 16.6%, and inventory increased 6.2%. Comparing the latest quarter to the prior-year quarter, the story looks decent. Revenue expanded 18.0%, and inventory improved 6.2%. Over the sequential quarterly period, the trend looks healthy. Revenue grew 8.4%, and inventory grew 0.2%.

Advanced inventory
I don't stop my checkup there, because the type of inventory can matter even more than the overall quantity. There's even one type of inventory bulge we sometimes like to see. You can check for it by examining the quarterly filings to evaluate the different kinds of inventory: raw materials, work-in-progress inventory, and finished goods. (Some companies report the first two types as a single category.)

A company ramping up for increased demand may increase raw materials and work-in-progress inventory at a faster rate when it expects robust future growth. As such, we might consider oversized growth in those categories to offer a clue to a brighter future, and a clue that most other investors will miss. We call it "positive inventory divergence."

On the other hand, if we see a big increase in finished goods, that often means product isn't moving as well as expected, and it's time to hunker down with the filings and conference calls to find out why.

What's going on with the inventory at Astronics? I chart the details below for both quarterly and 12-month periods.

Source: S&P Capital IQ. Data is current as of latest fully reported quarter. Dollar amounts in millions. FY = fiscal year. TTM = trailing 12 months.

Source: S&P Capital IQ. Data is current as of latest fully reported quarter. Dollar amounts in millions. FQ = fiscal quarter.

Let's dig into the inventory specifics. On a trailing-12-month basis, work-in-progress inventory was the fastest-growing segment, up 35.1%. On a sequential-quarter basis, raw materials inventory was the fastest-growing segment, up 5.4%. Astronics seems to be handling inventory well enough, but the individual segments don't provide a clear signal. Astronics may display positive inventory divergence, suggesting that management sees increased demand on the horizon.

Foolish bottom line
When you're doing your research, remember that aggregate numbers such as inventory balances often mask situations that are more complex than they appear. Even the detailed numbers don't give us the final word. When in doubt, listen to the conference call, or contact investor relations. What at first looks like a problem may actually signal a stock that will provide the market's best returns. And what might look hunky-dory at first glance could actually be warning you to cut your losses before the rest of the Street wises up.

I run these quick inventory checks every quarter. To stay on top of inventory and other tell-tale metrics at your favorite companies, add them to your free watchlist, and we'll deliver our latest coverage right to your inbox.

• Add Astronics to My Watchlist.

First Solar Is Finally Ready For A Bounce

Whether you love the company or hate it, thin-film photovoltaic module manufacturer First Solar (FSLR) is primed for a light rebound in the short-term. The company has fallen 85% since last year as of April 21 to the date, and now priced at $20.65 the stock has seen a bit of support as it nears the $20 range. The company has been in sharp decline as polysilicon prices have plummeted in recent years and failures of First Solar to keep their head in the game when it comes to being competitive have resulted in a losing battle in the war to lower costs.

Yet while fears of a lack of long-term sustainability continue to persist, and with much merit as First Solar is falling short on many fronts, the underlying fact remains that the company is far from dead. After all, this is the industry leader that has experienced multiple years of subsidized growth. While late to adapt to the changing times, the company has since shown its willingness to take drastic measures to place itself back on the road towards a profitable business model.

This was shown to be the case in the company's recent decision to shut down many of its lines including its European manufacturing facility and downsizing of 30% of its workforce. In light of this dramatic move, the company has stopped the current bleeding it would have faced in the midst of deteriorating and foreseeable conditions in Europe. Additionally, now preemptively cutting their losses in light of recognizing their falling position in the race for efficiency, First Solar is essentially strategically withdrawing from the residential and commercial market to regroup into the utility market where they can still effectively carve out a meaningful piece of the pie. As quoted from the First Solar restructuring conference call, the company's evaluation of itself cut through the fear:

Even prior to these actions, we believe that we are the best positioned company in the solar industry. We have the lowest cost structure of any module manufacturing company and our cost will continue to fall. Our kit of capabilities to design, engineer, construct, operate, and maintain large solar electric generation plants and integrate them with the grid will enable us to reduce solar electricity prices to grid parity levels to sustainable markets, and to do so profitably. Our demonstrated success in selling generation plants to leading US utilities will provide customers and new markets validation of our capabilities. Finally, our multi-year pipeline provides us with secured highly-reliable demand while we develop sustainable markets over the medium-term.

Mark Widmar, CFO of First Solar

Undoubtedly, First Solar will likely still face stiff competition in this industry from a limited pool of competitors including growing public entities such as Yingli Solar (YGE), Trina Solar (TSL), SunPower (SPWR), Canadian Solar (CSIQ), Suntech Power (STP), and JA Solar (JASO). But let us not forget the noteworthy struggle it is to compete running uphill that these companies will have to do when compared to waking up and starting to run at a more elevated position that First Solar is now doing. A quick look at the companies current market positions paints a much different picture to proclaimed impending collapse of First Solar that some are predicting:

Name	Market Cap.	Sh. Equity	Total Liabilities	Fwd. Earnings	Last Price
First Solar	$1.8 B	$3.6 B	$2.1 B	$4.26	$20.65
Yingli Solar	$546 M	$1.3 B	$2.4 B	$0.09	$3.53
Trina Solar	$551 M	$1.1 B	$1.7 B	$0.61	$6.77
SunPower	$647 M	$1.1 B	$2.2 B	$0.61	$5.51
Canadian Solar	$148 M	$534 M	$889 M	$0.07	$3.43
Suntech Power	$471 M	$1.8 B	$3.3 B	($0.59)	$2.61
JA Solar	$246 M	$1.0 B	$749 M	($0.02)	$1.40

Clearly, there are larger holes that First Solar's competitors need to first climb out of first before the company shows signs of wanting to throw in the towel (if indeed we to ever reach that point). Those predicting a freefall of share prices at these levels, which are already well discounted in relation to what they represent, are simply ignoring the fact that First Solar's project pipeline will continue to support them in the short-term while they strive to improve their competitiveness.

As for the mid- to long-term outlook for the company, let us not discount the nearing of (if not already arrival to) solar's grid parity which is bound to increase utility-sized demand as the alternatives become less compelling. One of the more interesting events to note was California's Renewable Auction Mechanism's latest results which suggest that grid parity may be even closer than many have imagined. As a result, as First Solar moves heavy-handed into an industry where fewer are able to compete, they may be greeted with increasing demand as the world takes greater confidence in solar's viability.

Last of all, while falling polysilicon prices notably served as the catalyst that brought about the large change now facing the solar industry, it's clear that the freefall has reasonably come to an end. While current prices may linger in the mid-$20's for some time, eventually they will rise to a more appropriate level thereby leveling off an already waning momentum. Ironically, China claims that falling polysilicon prices from the US and South Korea have contributed to the closing of 35 of the country's 43 domestic producers and the remaining 8 were operating at a loss. Expectations of an increase to $40/kg to $50/kg sometime in 2012 may help to add stability to the industry according to one advising analyst who's trade group advises to the Chinese government.

(click to enlarge)

In the end, it appears as if First Solar may finally be reaching that point of capitulation in light of all the cards now appearing on the table. The drastic market movements required drastic action, and while late to respond, First Solar finally came through by conceding markets & personnel in order to redefine itself into a sector it can still effectively compete in. Will the road be more difficult from here? Yes. Will First Solar's leadership be challenged? Likely. Will the company ultimately fail in the long term? Unknown. However, is the company still overpriced? Barring project failures, far from it.

The years of First Solar's $100+ share price tag are likely long gone for some time, and investors may do well to bypass this sector altogether in light of its uncertainty. Yet there is value found here in First Solar and its peers. While some companies may have the current momentum over others, that in itself isn't necessarily reason to presume the destruction of the other. As a whole, and as the industry crosses the line of grid parity, the rising waters of demand may actually end up floating the boats of all the companies that have reached such a level to be thought of as an integrated manufacturer. This is especially so as falling prices secure the viability of solar's future in the eyes of utility companies and the world as a whole.

Disclosure: I am long FSLR, CSIQ.

Did Zebra Technologies Squander Its Latest Sales Increase?

Margins matter. The more Zebra Technologies (Nasdaq: ZBRA  ) keeps of each buck it earns in revenue, the more money it has to invest in growth, fund new strategic plans, or (gasp!) distribute to shareholders. Healthy margins often separate pretenders from the best stocks in the market. That's why we check up on margins at least once a quarter in this series. I'm looking for the absolute numbers, so I can compare them to current and potential competitors, and any trend that may tell me how strong Zebra Technologies's competitive position could be.

Here's the current margin snapshot for Zebra Technologies over the trailing 12 months: Gross margin is 48.9%, while operating margin is 17.6% and net margin is 14.2%.

Unfortunately, a look at the most recent numbers doesn't tell us much about where Zebra Technologies has been, or where it's going. A company with rising gross and operating margins often fuels its growth by increasing demand for its products. If it sells more units while keeping costs in check, its profitability increases. Conversely, a company with gross margins that inch downward over time is often losing out to competition, and possibly engaging in a race to the bottom on prices. If it can't make up for this problem by cutting costs -- and most companies can't -- then both the business and its shares face a decidedly bleak outlook.

Of course, over the short term, the kind of economic shocks we recently experienced can drastically affect a company's profitability. That's why I like to look at five fiscal years' worth of margins, along with the results for the trailing 12 months, the last fiscal year, and last fiscal quarter (LFQ). You can't always reach a hard conclusion about your company's health, but you can better understand what to expect, and what to watch.

Here's the margin picture for Zebra Technologies over the past few years.

Source: S&P Capital IQ. Dollar amounts in millions. FY = fiscal year. TTM = trailing 12 months.

Because of seasonality in some businesses, the numbers for the last period on the right -- the TTM figures -- aren't always comparable to the FY results preceding them. To compare quarterly margins to their prior-year levels, consult this chart.

Source: S&P Capital IQ. Dollar amounts in millions. FQ = fiscal quarter.

Here's how the stats break down:

• Over the past five years, gross margin peaked at 49.5% and averaged 47.3%. Operating margin peaked at 18.7% and averaged 15.8%. Net margin peaked at 17.8% and averaged 8.9%.
• TTM gross margin is 48.9%, 160 basis points better than the five-year average. TTM operating margin is 17.6%, 180 basis points better than the five-year average. TTM net margin is 14.2%, 530 basis points better than the five-year average.

With recent TTM operating margins exceeding historical averages, Zebra Technologies looks like it is doing fine.

• Add Zebra Technologies to My Watchlist.

Alcoa: Ready For A Big Bounce

Alcoa (AA) is a prominent player in the aluminum business. Established in 1888, the New York-headquartered company specializes in the production of aluminum, alumina and related products. These products are used to produce final-end products, such as aircrafts, automobiles, construction services, as well as, other industrial outputs. Alcoa is a global company with operations worldwide. While, the company was able to boost its earnings significantly, the stock has been a big loser in the last year. Even after returning 21% in 2012, Alcoa is still trading 43% below its 52-week high.

As of the time of writing, Alcoa stock was trading at $10.43 with a 52-week range of $8.45 - $18.47. It has a market cap of $11.1 billion. Trailing twelve month [ttm] P/E ratio is 19, and forward P/E ratio is 10.8. P/B, P/S, and P/CF ratios stand at 0.8, 0.5, and 5.5, respectively. Operating margin is 6% and net profit margin is 2.5%. The company has some debt issues. Debt/equity ratio is 0.6. Alcoa pays a yield of 1.15%.

Alcoa has a 5-star rating from Morningstar. Out of 7 analysts covering the company, 2 have buy, 1 has outperform, 3 have hold, and 1 has sell ratings. Wall Street has diverse opinions on Alcoa's future. Average five-year annualized growth forecast estimate is 16.4%. This is a pretty bullish estimate, given Alcoa's negative growth in the last few years. However, it is attainable, as we experience a strong global recovery which is likely to boost the demand for aluminum products.

What is the fair value of Alcoa given the forecast estimates? We can estimate Alcoa's fair value using discounted earnings plus equity model as follows.

Discounted Earnings Plus Equity Model

This model is primarily used for estimating the returns from long-term projects. It is also frequently used to price fair-valued IPOs. The methodology is based on discounting the present value of the future earnings to the current period:

V = E0 + E1 /(1+r) + E2 /(1+r)2 + E3/(1+r)3 + E4/(1+r)4 + E5/(1+r)5 + Disposal Value

V = E0 + E0 (1+g)/(1+r) + E0(1+g)2/(1+r)2 + … + E0(1+g)5/(1+r)5 + E0(1+g)5/[r(1+r)5]

The earnings after the last period act as a perpetuity that creates regular earnings:

Disposal Value = D = E0(1+g)5/[r(1+r)5] = E5 / r

While this formula might look scary for many of us, it easily calculates the fair value of a stock. All we need is the current-period earnings, earnings growth estimate, and the discount rate. To be as objective as possible, I use Morningstar data for my growth estimates. You can set these parameters as you wish, according to your own diligence.

Valuation

Historically, the average return of the DJI has been around 11% (including dividends). Therefore, I will use 11% as my discount rate. In order to smooth the results, I will also take the average of ttm EPS along with the mean EPS estimate for the next year.

E0 = EPS = ($0.53 + $0.96) / 2 = $0.75

Wall Street holds diversified opinions on the company's future. While analysts tend to impose subjective opinions on their estimates, the average analyst estimate is a good starting point. Average five-year growth forecast is 16.4%. Book value per share is $12.96. The rest is as follows:

Fair Value Estimator
V (t=0)	E0	$0.75
V (t=1)	E0 (1+g)/(1+r)	$0.78
V (t=2)	E0((1+g)/(1+r))2	$0.82
V (t=3)	E0((1+g)/(1+r))3	$0.86
V (t=4)	E0((1+g)/(1+r))4	$0.90
V (t=5)	E0((1+g)/(1+r))5	$0.94
Disposal Value	E0(1+g)5/[r(1+r)5]	$8.59
Book Value	BV	$12.96
Fair Value Range	Lower Boundary	$13.64
	Upper Boundary	$26.60
	Minimum Potential	31%
	Maximum Potential	155%

I decided to add the book value per share so that we can distinguish between a low-debt and debt-loaded company. The lower boundary does not include the book value. According to my 5-year discounted-earnings-plus-book-value model, the fair-value range for Alcoa is between $13.64 and $26.6 per share. At a price of $10.43, Alcoa is undervalued by at least 30%. The stock has up to 155% upside potential.

click to enlarge

Peer Performance

Alcoa is not only the only stock that suffered from the drastic reduction in aluminum prices. Competitors' stock prices also followed a similar pattern. Aluminum Corporation of China (ACH), Alumina (AWC), Century Aluminum (CENX), and Noranda Aluminum (NOR) also disappointed their shareholders with significantly negative returns in the last year. Kaiser Aluminum (KALU) is the only exception among its peers with a slightly positive return in the same period. However, there are strong signs of recovery in the aluminum prices, which created a strong momentum for aluminum related stocks. The following table shows the performance breakdown of these companies:

Top Biotech Picks by Hedge Fund and Mutual Fund Gurus Concentrated in the Sector

What do the top Hedge Fund and Mutual Fund Gurus like in the Biotech Industry? This article, the ninth in a series, identifies through research of the latest available institutional 13-F filings, the Gurus that are most invested in the Biotech Industry, and the specific Biotech companies they prefer to hold in their hedge fund portfolios. The first eight articles in the series identified Gurus that are over-weight in the Solar sector, Utilities sector, China stocks, Airline sector, Optical Networking sector, Chemicals industry, Oil and Gas Exploration Industry, and the Automobile Industry, and the stocks within those sectors that they hold in their portfolios (For those familiar with the series, skip over to the fifth paragraph).

Top Stocks For 3/28/2012-3

National Health Partners, Inc. (NHPR)

National Health Partners, Inc. is a national healthcare savings organization that provides discount healthcare membership programs to uninsured and underinsured people through a national healthcare savings network called “CARExpress.” CARExpress is one of the largest networks of hospitals, doctors, dentists, pharmacists and other healthcare providers in the country and is comprised of over 1,000,000 medical professionals that belong to such PPOs as CareMark and Aetna. The company’s primary target customer group is the 47 million Americans who have no health insurance of any kind. The company’s secondary target customer group includes the millions of Americans who lack complete health insurance coverage.

Concern about high and rising health care costs in the United States has increased sharply in recent years. With the increase in costs and the lack of affordability of health insurance for many Americans, Health insurance is becoming increasingly difficult for workers and their employers to afford. Premiums increased 114 percent between 1999 and 2007, while workers’ earnings increased only 27 percent. U.S. spending on health care as a percentage of Gross Domestic Product is more than six percentage points higher than the average for other developed countries. Other important drivers of health care spending include health status (particularly obesity) and low productivity gains in the health care sector.
National Health Partners, Inc. recently announced the launch of a new network marketing program by one of its strategic partners, Xpress Healthcare, LLC. Xpress Healthcare has teamed up with CARExpress in an effort to revolutionize the discount healthcare industry while at the same time bringing financial freedom to families across the nation. By the end of the second quarter of 2011, Xpress Healthcare anticipates adding over 100 new brokers both participating in and promoting National Health Partners’ CARExpress program and should enroll over 2,500 new members.

Xpress also expects its growth to accelerate in the 3rd quarter as it anticipates recruiting an additional 200 new brokers which should generate over 10,000 new CARExpress sales. According to National Health Partners, Inc offering tremendous growth potential, Xpress Healthcare is well positioned to become the leading marketing arm for its CARExpress and now Strong Sales are projected for 2nd Quarter from this new strategic partnership.

For more information about National Health Partners, Inc. Visit its website: www.nationalhealthpartners.com

Orofino Gold Corp. (ORFG)

Consumers’ seemingly unfailing appetite for ever lighter, faster and technically enhanced electronic consumer goods has been fuelling a steadily-rising demand for gold from manufacturers.

One challenge with the use of gold in very small quantities in very small devices is loss of the metal from society. Nearly one billion cell phones are produced each year and most of them contain about fifty cents worth of gold. Their average lifetime is under two years and very few are currently recycled. Although the amount of gold is small in each device, their enormous numbers translate into a lot of unrecycled gold.

Most of the ways that gold is used today have been developed only during the last two or three decades. This trend will likely continue. As our society requires more sophisticated and reliable materials our uses for gold will increase. This combination of growing demand, few substitutes and limited supply will cause the value and importance of gold to increase steadily over time. It is truly a metal of the future.

Orofino Gold Corp. recently announced that it has requested Sepro Systems Corp. to assist in the design criteria to improve environmental sensitivity and maximize yield production and recoveries as it begins development at its Culo Alzado mine site in Sur de Bolivar, Colombia.

Canadian-based Sepro Systems Corp. is a leading supplier of state-of-the-art, environmentally sensitive mineral processing equipment for projects worldwide.

Recent permitting issues for Colombian based Gold projects due to environmental concerns from the Colombian government have made sustainable and environmentally conscious mining programs a top priority for many of the region’s mining companies. Orofino’s directors and management feel taking steps to ensure sustainability from the beginning of its exploration process is part of the company’s responsibility to the local population and government. These steps will also better position the company for long-term development of its concessions thanks to a decreased environmental impact.

In addition to positioning Orofino for environmentally sustainable growth, installing Sepro equipment at its Culo Alzado mine site will also dramatically improve recoveries of minerals from current workings. Orofino intends to install new, state-of-the-art crushing, milling, and recovery systems in order to begin a regular sampling program as laid-out by the company’s Qualified Person as described in the National Instrument 43-101. This equipment will enable Orofino to generate regular, up-to-date metallurgical and geological reports, improving knowledge of the composition of the producing concessions and increasing investor confidence.

Orofino Gold Corp. corporate objective is to continue to build shareholder value through the exploration and development of Senderos de Oro and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years.

Orofino Gold Corp. is a Colombia based gold producer founded as a private company in 2009 by former executives with over 50 cumulative years in mining exploration, finance, and development expertise.

For more information about Orofino Gold Corp., please visit their website: http://www.orofinogold.com

Chemed Corp. (NYSE:CHE) elected a slate of 10 directors at the Company’s 2011 annual shareholders’ meeting. Each of the directors continues from the prior term. Shareholders ratified the continuation of PricewaterhouseCoopers LLP as the Company’s independent accountants for 2011. In addition, shareholders approved Chemed’s executive compensation and recommended an advisory vote be conducted on an annual basis. Following the shareholders’ meeting, Chemed’s Board of Directors declared a quarterly cash dividend of 14 cents per share on the Company’s capital stock, payable on June 15, 2011, to shareholders of record May 26, 2011. This represents the 160th consecutive quarterly dividend paid to shareholders in Chemed’s 40 years as a public company.

Chemed Corporation, through its subsidiaries, provides hospice care, and repair and maintenance services in the United States. The company operates in two segments, Vitas and Roto-Rooter. Chemed Corporation was founded in 1970 and is based in Cincinnati, Ohio.

Nacco Industries Inc. (NYSE:NC) announced that the Board of Directors increased its regular cash dividend from 52.25 cents to 53.25 cents per share. The dividend is payable on both the Class A and Class B Common Stock, and will be paid June 15, 2011 to stockholders of record at the close of business on June 1, 2011. The new dividend is equal to an annual rate of $2.13 per share.

NACCO Industries, Inc., through its subsidiaries, engages in lift trucks, small appliances, specialty retail, and mining businesses primarily in the Americas, Europe, and the Asia-Pacific The company was founded in 1913 and is based in Cleveland, Ohio.

InterOil Corporation (NYSE:IOC) announced financial and operating results for the first quarter ended March 31, 2011.On February 2, 2011, we signed a Project Funding and Construction Agreement and Shareholder Agreement with Energy World Corporation Limited setting the framework parameters in respect of the development, construction, financing and operation of a planned 3 million tonne per annum (mtpa) land based modular LNG plant in the Gulf Province of Papua New Guinea. On March 22, 2011, InterOil announced the details of the independent engineering evaluation prepared by GLJ Petroleum Consultants Ltd., which evaluated the contingent resources at Elk and Antelope fields in Papua New Guinea effective as at December 31, 2010. The 2010 GLJ Petroleum Consultants report provides for a best case estimate of gross contingent resources of 8.59 trillion cubic feet of natural gas and 128.9 million barrels of condensate. On March 23, 2011 we signed a non-binding memorandum with EWC to negotiate taking an ownership interest and establish an associated downstream gas sale, purchase, transmission and distribution services company. EWC has a permit to construct a LNG hub terminal and a 300 Megawatt combined cycle gas turbine power plant located in the Philippines. InterOil recorded a consolidated net profit for the quarter ended March 31, 2011 of $0.7 million. The operating segments of Corporate, Midstream Refining and Downstream collectively derived a net profit for the quarter of $21.2 million, while the development segments of Upstream and Midstream Liquefaction had a net loss of $20.5 million.

InterOil Corporation primarily engages in the exploration, appraisal, and development of crude oil and natural gas properties in Papua New Guinea. It also involves in the refining and liquefaction of jet fuel, diesel, and gasoline, as well as naphtha and low sulfur waxy residue.