Market Updates

Charles Duncan: 2014 Is for Careful Stock Pickers, Not Dart Throwers

Expert Interviews The Life Sciences Report: Charles, you are a veteran biotech sellside analyst. What differentiates your work from that of other analysts in the field? Charles Duncan: I am firmly committed to being a biotech generalist, but I am a neuropharmacologist by training, and have a fair amount of experience in that area—that's where I can differentiate my work from other analysts. Analysts generally gravitate toward oncology and therapy areas with a well-bedded set of success factors in the clinic. By contrast, I deal with relatively complicated sets of endpoints, at least in terms of clinical development in neurology. I have more comfort and experience in this area than most on the Street. One example is Acadia Pharmaceuticals Inc. (ACAD:NASDAQ), a company that I assisted in taking public while at a previous firm.

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Personal Finance

This Is the Way Out of Today’s Mad

Personal Finance Investors have had to endure much more volatility in the past few weeks. We may know why — the Federal Reserve put an expiration date on its $3 trillion-plus bond-buying program. But some investors don’t know how to proceed. The Fed’s easy-money policy — mainly known as quantitative easing, or QE — probably will end next year.


Andrew Coleman Wants to Know if You Are

Energy The Energy Report: We are at the end of Q1/14; how is the oil and gas space faring? Andrew Coleman: Overall, the space was helped by stronger domestic gas prices as we came out of the cold winter. The Q1/14 numbers have not been fully reported yet, but gas prices were up to $5 per thousand cubic feet ($5/Mcf) at bid week.

Stock News

Market Update: Visa Inc (NYSE:V) – Visa Inc. Reports Fiscal Second Quarter 2014 Net Income of $1.6 Billion or $2.52 per Diluted Share

Financial [Business Wire] - Visa Inc. today announced financial results for the Company’s fiscal second quarter 2014. Net income for the quarter was $1.6 billion, an increase of 26% over the prior year, or $2.52 per share, an increase of 31% over the prior year. Read more on this. Visa Inc. (V), with a current value of $132.68B, began trading this morning at $209.80.   Looking at the equity, the company's one day range is $207.59 to $210.50 and has traded between $163.60 and $235.50 over the past year.   V shares are currently priced at 23.52x this year's forecasted earnings, which makes them relatively expensive compared to the industry's 17.13x earnings multiple for the same period.   And for passive income investors, the company pays shareholders $1.60 per share annually in dividends, yielding 0.80%.

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Fund & ETF

MLP ETF Expenses Hit The Fan

ETFs Since the inception of the Investment Company Act of 1940, investors have grown to expect every mutual fund, closed-end fund (“CEF”), and exchange traded fund (“ETF”) to be treated as a “pass-through vehicle” for tax purposes. The entity itself would not pay any taxes, and all tax liabilities would be passed-through to the shareholders. That was the status quo for decades, until master limited partnership (“MLP”) funds came along.

Fixed Income

DVHI: New ETRACS Diversified High Income ETN an

High-Yield & Dividend UBS (UBS) rolled out the ETRACS Diversified High Income ETN (DVHI) on Thursday (9/19/13).  The new exchange traded note (“ETN”) is targeted at investors desiring significant monthly income from a diversified multi-asset mix.  It will track the new NYSE Diversified High Income Index minus the 0.84% annual tracking fee.  The underlying index has a current yield of 7.7%, and the ETN will make monthly cash distributions.