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[ December 18, 2014 | Author: admin | Views: 77005 | Weather: | Mood: normal]

Wells Fargo Advisors (WFC) said Wednesday that it tapped two managers for new client-focused positions. Anne Larson is now director of client acquisitions, and Erin Rich has become director of client experience for the group. “This is a time when the need for more and better advice has never been greater,” said Wells Fargo Advisors President and CEO Danny Ludeman, in a press release. “Our firm is making a significant investment in bringing in new clients and making sure their experience is exceptional. We believe our firm offers clients the best experience in helping them succeed financially. Anne and Erin’s perspective and experience will help us to continue to grow and remain successful.”  With $1.3 trillion in client assets as of June 30, Wells Fargo Advisors includes close to 15,300 full-service financial advisors and 3,340 licensed bankers. Larson (left) will focus on developing practical growth strategies, training and other programs. … Continue reading

[ December 18, 2014 | Author: admin | Views: 98231 | Weather: | Mood: normal]

Having repurchased 23 million shares, or $1 billion worth of company stock, in the second quarter, oil services giant Halliburton (NYSE: HAL  ) announced today it had approved an increase to $5 billion in its buyback program. The board of directors said that with just$0.7 billion of repurchasing capacity remaining on the existing authorization that was initiated in 2006, it would increase by another $4.3 billion its ability to buy back shares. It also declared its third-quarter dividend of $0.125 per share, the same rate it’s paid for the last two quarters after having increased the payout 39% from $0.09 per share. Noting the first-quarter dividend hike reflected management’s increased confidence in the strength of the company’s outlook, Halliburton Chairman, President, and CEODave Lesar said, “We believe that our relentless focus on generating best-in-class returns and our commitment to shareholder distributions will deliver increased value to our shareholders going forward.” 5 … Continue reading

[ December 18, 2014 | Author: admin | Views: 97958 | Weather: | Mood: normal]

I just got back from the Hennessy Fund’s grand reveal of the new portfolio for its Hennessy Cornerstone Mid Cap 30 Fund (HFMDX), which gets rebalanced once a year. The fund uses a quantitative screen to select 30 stocks with low valuation and high momentum, and last year it loaded up on companies that would be using their cash balance sheets for buybacks, dividends and acquisitions. That portfolio has done well. The Hennessy Cornerstone Mid Cap 30 Fund has returned 12.3% so far this year, easily topping the 7.8% return in the S&P MidCap 400 and nearly equal to the S&P 500′s 12.4% return. This year, portfolio managers Neil Hennessy and Brian Peery think companies will be doing their spending on capital improvements and hiring, rather than buybacks, dividends and acquisitions, as the United States economy continues to grow at a slow and steady pace. There’s nothing that can hurt … Continue reading

[ December 18, 2014 | Author: admin | Views: 56192 | Weather: | Mood: normal]

Osisko Mining’s (OSKFF) board formally rejected Goldcorp’s (GG) bid for the company the company yesterday. Reuters Bloomberg has the details: Osisko Mining Corp. rejected Goldcorp Inc.s C$2.6 billion ($2.4 billion) unsolicited bid because its too low and said the Canadian company is reviewing other options. The meager premium offered by Goldcorps shares-and-cash offer is significantly below comparable transactions, Montreal-based Osisko said today in a statement. It said the offer undervalues its Canadian Malartic mine inQuebec, which started producing in 2011. The Goldcorp offer has been opportunistically timed to occur before Canadian Malartic enters what Osisko expects will be its most productive years, Osisko said. The true strategic value of the companys assets will be demonstrated as the review of value-maximizing alternatives progresses. 10 Best Canadian Stocks To Buy For 2015: Goldcorp Incorporated(GG) Goldcorp Inc. engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United … Continue reading

[ December 18, 2014 | Author: admin | Views: 76246 | Weather: | Mood: normal]

On Thursday, Union Pacific (NYSE: UNP  ) will release its latest quarterly results. The key to making smart investment decisions on stocks reporting earnings is to anticipate how they’ll do before they announce results, leaving you fully prepared to respond quickly to whatever inevitable surprises arise. That way, you’ll be less likely to make an uninformed knee-jerk reaction to news that turns out to be exactly the wrong move. Union Pacific has benefited from the cost advantage that railroads have during periods of high energy prices, but the devastation in the commodities markets recently has had a negative impact on shipping volume. Nevertheless, the railroad giant has managed to turn to alternative revenue sources. Let’s take an early look at what’s been happening with Union Pacific over the past quarter and what we’re likely to see in its quarterly report. Stats on Union Pacific Analyst EPS Estimate Top 5 Railroad Stocks … Continue reading