As the overall market takes a breather from its three-day rally, investors appear to be heading into the weekend in the red. So too is Bank of America (NYSE: BAC ) this morning, down 1.1% at 10:30 a.m. EDT. Though it may be following the pack as we close out the quarter, some new legal developments may also be pushing the bank further into negative territory.
Good news first
In a move that will likely help the bank stay away from litigation, a group of state and federal officials have notified the New York Attorney General's office that no enforcement action will be taken against B of A or�Wells Fargo (NYSE: WFC ) for violations of last year's $25 billion mortgage settlement terms. The NYAG had notified the states and the settlement's overseer that it intended to file suit against the banks for the violations, but it had been temporarily stymied by the banks' request for time to cure the alleged missteps.
Now, the stance of the federal and state parties that there will be no enforcement action takes some of the wing out from beneath the AG's wings. The latest from the Attorney General's office had cited numerous violations as reported by these other states as reason to press forward with the intended suit. But the current stance of the states and federal parties is to allow the banks to remedy the violations with homeowners directly, with the belief that reform of the process will come faster if litigation is avoided.
Best Life Sciences Stocks To Own Right Now: Green Mountain Coffee Roasters Inc.(GMCR)
Green Mountain Coffee Roasters, Inc. engages in the specialty coffee and coffee maker business. The company sources, produces, and sells approximately 200 varieties of coffee, cocoa, teas, and other beverages in K-Cup portion packs and coffee in traditional packaging, including whole bean and ground coffee selections in bags and ground coffee in fractional packs for use in at-home (AH) and away-from-home (AFH). It sells its products primarily in North America through supermarkets, club stores, and convenience stores; in restaurants and hospitality; and to office coffee distributors, as well as directly to consumers through its Website. The company also manufactures gourmet single-cup brewing systems and brewing equipment. In addition, it sells AH single-cup brewers; accessories; and coffee, tea, hot cocoa, and other beverages in K-Cup portion packs, as well as offers other licensed roasters to retailers, department stores, and mass merchandisers. Further, the company sells AFH single-cup brewers to distributors for use in offices. It provides its products under the Van Houtte, Br�erie St. Denis, Br�erie Mont-Royal, and Orient Express brands, as well as licensed Bigelow and Wolfgang Puck brands. The company was founded in 1981 and is based in Waterbury, Vermont.
Advisors' Opinion:- [By Jayson Derrick]
The SEC closed an inquiry into Keurig Green Mountain (NASDAQ: GMCR) over a 2010 accounting probe with no enforcement actions levied against the company. Shares lost 0.20 percent, closing at $137.71.
- [By Paul Ausick]
Source: courtesy Green Mountain Coffee Roasters Inc.Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) reported fourth fiscal quarter and full-year 2013 earnings after markets closed Thursday. For the quarter, the maker of the Keurig single-cup brewing system posted adjusted diluted earnings per share (EPS) of $0.89 on revenues of $1 billion. In the same period a year ago, the company reported EPS of $0.64 on revenues of $946.7 million.Fourth-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.75 and $964.56 million in revenues.
Top High Tech Companies To Own For 2014: MutualFirst Financial Inc.(MFSF)
MutualFirst Financial, Inc. operates as a holding company for MutualBank that provides financial products services to individuals and businesses. It accepts various savings deposit accounts, NOW and demand accounts, and certificates of deposit. The company also provides one- to four-family residential mortgage loans, multi-family and commercial real estate loans, construction and development loans, commercial business loans, and consumer loans, including home equity and lines of credit, home improvement, auto, boat, and recreational vehicle loans, as well as loans secured by savings deposits, and credit card and unsecured loans. In addition, it operates as an insurance agent and sells life insurance, and credit-life and health insurance products. Further, the company provides investment money management and trust services. It operates 33 full service financial centers located in Delaware, Elkhart, Grant, Kosciusko, Randolph, St. Joseph, and Wabash counties, Indiana. The co mpany was founded in 1889 and is headquartered in Muncie, Indiana.
Advisors' Opinion:- [By Tim Melvin]
MutualFirst Financial (MFSF) makes the list, trading at 80% of book value and yielding 1.61%. The bank has total assets of about $1.4 billion and is located in Muncie, Ind. Like a lot of small banks today, the story here is one of steady credit improvement and compressed net interest margins. It is one of many smaller institutions that I think will eventually be taken over; the current regulatory climate simply does not favor little banks. Insiders own about 10% of the stock, so they are invested in the idea of a much higher stock price.
- [By Tim Melvin]
PL Capital has not filed any 13Ds in a couple of months, but earlier this year it disclosed a 5.99% position in shares of First Advantage Bancorp (FABK). The Clarksville, Tenn.-based bank has seven branches and trades at about 75% of book value. PL Capital also filed a 13D announcing 8% ownership of Mutual First Financial (MFSF) over the summer. The bank has 31 branches and is based in Muncie, Ind. — an area that has seen substantial consolidation in the past few years.
Top High Tech Companies To Own For 2014: Ardonblue Ventures Inc (ARB)
Ardonblue Ventures Inc., formerly August Metal Corporation, is a Canada-based company engaged in the business of acquiring, exploring and evaluating mineral resource properties. Las Lajas Project consists of approximately seven contiguous mining concessions and is located in Southern Sonora State, Mexico. The concessions are owned by Minera Goldzone SA de CV a wholly owned subsidiary of Goldzone Exploration Inc. Las Lajas has access and infrastructure as it is located approximately 15 kilometers north of the city of Navojoa. The Thurlow Property occupies the central part of the Doratha Morton gold trend, located on British Columbia�� southwestern coast near Phillips Arm. The Property consists of approximately nine crown granted mineral claims covering a total of approximately 142.61hectares. Advisors' Opinion:- [By Rich Duprey]
International media and marketing shop Arbitron� (NYSE: ARB ) �announced yesterday�its second-quarter dividend of $0.10 per share, the same rate it's always paid since 2005
Top High Tech Companies To Own For 2014: NVIDIA Corporation(NVDA)
NVIDIA Corporation provides visual computing, high performance computing, and mobile computing solutions that generate interactive graphics on various devices ranging from tablets and smart phones to notebooks and workstations. It operates in three segments: Graphic Processing Unit (GPU), Professional Solutions Business (PSB), and Consumer Products Business (CPB). The GPU segment offers GeForce discrete and chipset products, which support desktop and notebook personal computers plus memory products. The PSB segment provides its Quadro professional workstation products and other professional graphics products, including its NVIDIA Tesla high-performance computing products used in the manufacturing, entertainment, medical, science, and aerospace industries. The CPB segment offers Tegra mobile products, which support tablets, smartphones, personal media players, Internet television, automotive navigation, and other similar devices. This segment also licenses video game consol es and other digital consumer electronics devices. The company sells its products to original equipment manufacturers, original design manufacturers, add-in-card manufacturers, consumer electronics companies, and system builders worldwide that utilize its processors as a core component of their entertainment, business, and professional solutions. NVIDIA Corporation was founded in 1993 and is headquartered in Santa Clara, California.
Advisors' Opinion:- [By Jonas Elmerraji]
Nvidia Corp. (NVDA) is having a good run in 2014 – since the calendar flipped to January, shares of the graphics card maker have rallied 18%, quadrupling the gains investors have gotten from the S&P 500 over the same stretch. And Nvidia could be primed for more of the same thanks to a new product pipeline and a massive cash position.
Following AMD's (AMD acquisition of ATI Technologies in 2006, Nvidia became the sole pure-play graphics chipmaker on the market. And as PCs largely become commoditized, Nvidia remains one of a few component makers that's able to still earn deep margins for its efforts; last quarter net profit margins clocked in at 12.4%. But Nvidia is branching out beyond graphics cards too – it's investing heavily in supercomputing R&D, as well as server and mobile graphics offerings. And new consumer products like the SHIELD portable gaming device are putting new markets on Nvidia's radar.
From a financial standpoint, NVDA is in stellar shape, with $3 billion in net cash. That's enough cash to cover 29% of the firm's current market cap – that also drops NVDA's ex-cash P/E ratio down to 15.4. That's 40% lower than the earnings multiple on the average technology sector stock today...
- [By Evan Niu, CFA]
The first half of 2013 has been relatively slow for�NVIDIA� (NASDAQ: NVDA ) , with shares mostly keeping pace with the broader market. This is expected, as the company made the conscious decision to delay the Tegra 4 time frame in order to focus on Tegra 4i. The graphics business continues to hold up admirably in the face of a slow PC market, as NVIDIA's target gamer market remains resilient.
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