The Federal Aviation Administration released a statement Friday outlining a proposal to fine Boeing (NYSE: BA ) $2.75 million for the airplane manufacturer's alleged failure to maintain its quality control systems.
The root of the dispute stems to September 2008, when Boeing revealed that its 777 fastener components didn't conform to the FAA's standards. From October onward, Boeing and the FAA began a back-and-forth investigation correspondence. The FAA alleges that Boeing continually submitted action plans but failed to follow through by agreed-upon deadlines. Only in November 2010 did the company fully address the issue.
"Safety is our top priority, and a robust quality control system is a vital part of maintaining the world's safest air transportation system," said U.S. Transportation Secretary Anthony Foxx in a statement. "Airplane manufacturers must take prompt and thorough steps to correct safety and compliance problems once they become aware of them."
Top Safest Stocks To Invest In 2015: Platform Specialty Products Corp (PAH)
Platform Specialty Products Corporation is a producer of technology specialty chemical products and provider of technical services. The Company�� business involves the manufacture of a range of specialty chemicals, which the Company creates by blending raw materials, and the incorporation of these chemicals into multi-step technological processes. Advisors' Opinion:- [By Luke Jacobi]
13Fs were released after the close Thursday and resulted in some interesting trading activity Friday. Platform Specialty Products (NYSE: PAH), for example, rose almost six percent Ackman announced a large stake in the company. Verizon Communications (NYSE: VZ) rose more than two percent after Dan Loeb and Warren Buffett added positions in the company and David Tepper sold his stake.
Top Safest Stocks To Invest In 2015: World Point Terminals LP (WPT)
World Point Terminals, LP, incorporated on April 19, 2013, is a fee-based Delaware limited partnership formed to own, operate, develop and acquire terminals and other assets relating to the storage of light refined products, heavy refined products and crude oil. WPT GP, LLC is the general partner of the Company. It operates in a single reportable segment consists primarily of the fee-based storage and terminaling services it performs under contracts with its customers. The Company�� storage terminals are located in the East Coast, Gulf Coast and Midwest regions of the United States and, as of May 31, 2013, had a combined available storage capacity of 12.4 million barrels. The Company provides terminaling and storage of light refined products, such as gasoline, distillates and jet fuels; heavy refined products, such as residual fuel oils and liquid asphalt, and crude oil. Most of its terminal facilities are located on waterways, and have truck racks. Several of its terminal facilities also have rail or pipeline access. As of May 31, 2013, approximately 93% of its available storage capacity was under contract.
The Company generates revenue from Storage Services Fees, Ancillary Services Fees and Additive Services Fees. Storage Services Fees are its customers pay base storage services fees, which are fixed monthly fees paid at the beginning of each month to reserve storage capacity in its tanks and to compensate it for receiving up to a base product volume on their behalf. The Company charges ancillary services fees to its customers for providing services, such as heating, mixing and blending its customers��products that are stored in its tanks; transferring its customers��products between its tanks; at its Granite City terminal, adding polymer to liquid asphalt, and rail car loading and dock operations. The Company generates revenue from fees for injecting generic gasoline, gasoline, lubricity, red dye and cold flow additives to its customers��products.
Advisors' Opinion:- [By Robert Rapier]
World Point Terminals (NYSE: WPT) owns and operates terminals and other assets for the storage of light refined products, heavy refined products and crude oil. World Point’s storage terminals are located in the East Coast, Gulf Coast and Midwest regions of the US. The partnership debuted on Aug. 9, and units have gained 2 percent since. The partnership agreement provides for a minimum quarterly distribution of $1.20 per unit on an annualized basis. At the recent closing price of $19.64/unit, this equates to a minimum annualized yield of 6.1 percent.
- [By John Emerson]
Berman pioneered the idea of the World Poker Tour (WPT) and sold the concept to the Travel Channel. Watching poker on television had always been boring since the viewing audience could not see the down cards which the players held. Berman remedied that problem by allowing a camera to expose the down cards to the TV audience. That idea suddenly transformed Texas Holdem into a fascinating spectator�� sport. By the end of 2003 the stock had reached its book value of 15 dollars a share and I decided to take my profits, perhaps a bit prematurely. The stock quickly climbed to about 30 dollars a share on sheer momentum.
- [By Jon C. Ogg]
World Point Terminals L.P. (NYSE: WPT) was initiated as Outperform with a $23 price target at Credit Suisse.
See also more analyst upgrades and downgrades for Tuesday.
Hot Telecom Stocks For 2015: Financial Institutions Inc.(FISI)
Financial Institutions, Inc. operates as the holding company for Five Star Bank that provides consumer and commercial banking, and financial services to individuals, municipalities, and businesses in central and western New York. Its deposit accounts consist of noninterest-bearing demand, interest-bearing demand, savings, money market, club, individual retirement, and other qualified plan accounts, as well as certificates of deposit. The company?s loan portfolio comprises commercial loans, commercial real estate loans, one-to-four family residential mortgages, consumer automobile loans, recreational vehicle loans, boat loans, home improvement loans, closed-end home equity loans, home equity lines of credit, collateralized and uncollateralized personal loans, deposit account collateralized loans, commercial and agricultural working capital and revolving lines of credit, commercial and agricultural mortgages, equipment loans, and crop and livestock loans. It operates throug h a network of approximately 51 offices and 70 ATMs in 14 contiguous counties of western and central New York. The company, through its other subsidiary, Five Star Investment Services, Inc., provides brokerage services. Financial Institutions, Inc. was founded in 1931 and is based in Warsaw, New York.
Advisors' Opinion:- [By Jon C. Ogg]
Financial Institutions Inc. (NASDAQ: FISI) was started as Buy with a $24 price target by Sterne Agee.
Ross Stores Inc. (NASDAQ: ROST) was reiterated as Buy and added to the prized Conviction Buy list at Goldman Sachs.
Top Safest Stocks To Invest In 2015: United Natural Foods Inc.(UNFI)
United Natural Foods, Inc., together with its subsidiaries, distributes natural, organic, and specialty foods, as well as non-food products in the United States. It carries approximately 60,000 products, consisting of national brand, regional brand, private label, and master distribution products in 6 product categories: grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements, bulk and food service products, and personal care items. The company serves approximately 17,000 customer locations primarily located across the United States, which include independently owned natural products retailers, supernatural chains, conventional supermarkets, and food service centers. Its other distribution channels include international mass market chains and buying clubs. The company also owns and operates natural products retail stores. As of August 1, 2009, it had 13 natural products retail stores located primarily in Florida. In addition, the com pany engages in the international importing, roasting, packaging, and distribution of nuts, seeds, dried fruits, and snack items. It sells these items in bulk in its own packaged snack lines, EXPRESSnacks, Woodfield Farms, and Woodstock Farms, as well as through private label packaging arrangements. The company was founded in 1978 and is headquartered in Providence, Rhode Island.
Advisors' Opinion:- [By Patricio Kehoe]
In order to maximize volume discount, Whole Foods purchases at regional or national scales. While many of its perishable products are obtained from local producers, almost a third of the company�� purchases are sourced from United Natural Foods Inc. (UNFI). Their distribution agreement, valid through 2020, stipulates that UNFI will be the company�� main provider of frozen foods and groceries. However, the company seeks to diversify its supplier base by sourcing form local farmers who are eager to suit its high-quality food production standards.
- [By abirk]
One great player in this organic food industry is United Natural Foods, Inc. (UNFI). With a market cap of $3.12 billion, the company is a distributor of natural, organic and specialty foods, and non-food products in the United States and Canada. The company serves more than 31,000 customer locations over 65,000 different products. This Providence, Rhode Island- based company serves as the main distributor to Whole Foods Market, Inc. (WFM) which represented 36% of United Natural Foods' revenue last year. The company also has long-term contracts with Costco Wholesale Corporation (COST), and The Kroger Co. (KR).
- [By Laura Brodbeck]
Notable earnings released on Monday included:
United Natural Foods, Inc. (NASDAQ: UNFI) reported second quarter EPS of $0.56 on revenue of $1.65 billion, compared to last year�� EPS of $0.46 on revenue of $1.45 billion. Urban Outfitters, Inc (NASDAQ: URBN) reported fourth quarter EPS of $0.59 on revenue of $905.90 million, compared to last year�� EPS of $0.56 on revenue of $856.83 million. Hill International, Inc.�(NYSE: HIL) reported a fourth quarter loss of $0.03 per share on revenue of $145.00 million, compared to last year�� loss of $0.04 per share on revenue of $110.77 million.Pre-Market Movers
Top Safest Stocks To Invest In 2015: Plains Exploration & Production Company(PXP)
Plains Exploration & Production Company, an independent oil and gas company, primarily engages in acquiring, developing, exploring, and producing oil and gas in California, Texas, and Louisiana. It owns oil and gas properties with principal operations in onshore California; offshore California; the Gulf Coast region, including Haynesville Shale, Eagle Ford Shale, and south and east Texas; the Mid-Continent region; and the Rocky Mountains. As of December 31, 2010, the company had estimated proved reserves of 416.1 million barrels of oil equivalent. Plains Exploration & Production Company was founded in 2002 and is headquartered in Houston, Texas.
Advisors' Opinion:- [By Rich Duprey]
Gold and copper miner�Freeport-McMoRan� (NYSE: FCX ) has completed its acquisition of Plains Exploration & Production (NYSE: PXP ) and, as previously planned, the board of directors says it will pay investors a supplemental dividend of $1.00 per share that is in addition to the regular quarterly payout of $0.3125 per share.
- [By Matt DiLallo]
While it has diversity among metals, the company is also in the final stages of adding even more diversity among commodities. It has pending deals to acquire both McMoRan Exploration (NYSE: MMR ) and Plains Exploration and Production (NYSE: PXP ) . When the deals close, Freeport will shift its revenue mix from 100% mining related to around 75% mining and 25% oil and gas. That makes the company a truly diversified economic indicator as copper, oil, and natural gas are much more important to our economy than aluminum.
- [By David Smith]
The pending purchases
Aside from its current core metals operations, Freeport is in the process of acquiring a pair of independent oil and gas producers, Plains Exploration & Production (NYSE: PXP ) and McMoRan Exploration (NYSE: MMR ) . In December, Freeport announced that it would pay 0.6531 shares of its common stock and $25 in cash for each outstanding share of Plains. In addition, for McMoRan it stated that it would pay $14.75 in cash and 1.15 units of a royalty trust that will hold a 5% overriding royalty interest in McMoRan's shallow water and ultra-deepwater prospects. - [By Dan Caplinger]
1 (tie). Louisiana, March 29
Louisiana climbs to the top spot by keeping property taxes below $750 and collecting just a 4% sales tax, although local options add nearly 5 percentage points to that figure and make the state one of the highest-collecting sales-tax states. Although extensive activity from energy producers Chesapeake Energy (NYSE: CHK ) , Encana (NYSE: ECA ) , and Plains Exploration (NYSE: PXP ) in the Haynesville-Bossier shale play could boost incomes and lead to higher taxes, much of Louisiana's sales tax revenue comes from out-of-state tourists visiting the state, leaving the actual amount borne by residents even lower. A 6% income tax isn't enough to push Louisiana out of the top spot.
Top Safest Stocks To Invest In 2015: Sonova Holding AG (SOON)
Sonova Holding AG is a Switzerland-based company operating in the healthcare sector. The Company, along with its subsidiaries, specializes in the design, development, manufacture, worldwide distribution and service of technologically advanced hearing systems for adults and children with hearing impairment. The Company is active in two operating segments: the Hearing instruments segment includes the companies that are active in the design, development, manufacture, distribution and service of hearing instruments and related products, and the Cochlear implants segment includes the companies that are active in the design, development, manufacture, distribution and service of hearing implants and related products. The Company operates worldwide and distributes its products in over 90 countries through its own distribution network and through independent distributors. Sonova Holding AG is the holding company of the Sonova Group. Advisors' Opinion:- [By Corinne Gretler]
Sonova (SOON) advanced 6.9 percent to 126.50 Swiss francs after predicting that annual earnings before interest, taxes and amortization would grow as much as 14 percent, compared with a previous forecast of 9 percent to 13 percent. Sales will increase 8 percent to 10 percent, up from an earlier projection of 6 percent to 8 percent.
- [By Sofia Horta e Costa]
ThyssenKrupp AG slid to a 10-week low after raising 882.3 million euros ($1.2 billion) through a share sale. Antofagasta Plc led a measure of mining companies to a seven-week low. Sonova Holding AG (SOON) declined 1.5 percent as Morgan Stanley cut its rating on the Swiss hearing-aid maker. Orange SA slipped 3.4 percent amid concern a price war in the French mobile market will extend to fourth-generation data services.
Top Safest Stocks To Invest In 2015: AsiaInfo-Linkage Inc.(ASIA)
AsiaInfo-Linkage, Inc. provides telecommunications software solutions and information technology (IT) products and services to telecommunications carriers and other enterprises in the People?s Republic of China. The company offers business and operation support systems product suites, including OpenBilling, a billing solution for telecommunications operators; OpenCRM, a CRM solution suite for telecommunications operators; OpenBOSS, a carrier-class business operation support system solution; OpenBI, a carrier-class operating analysis and decision support system platform; OpenPRM, a system that calculates, manages, and reconciles payment for intercarrier network access. It also provides network management solutions comprising NetXpert, a data and Internet protocol network management solution; and OpenXpert, an integrated telecommunications network management system. In addition, the company offers service applications products, such as Mail Center, an online messaging softwa re; Spam Patrol software for real time anti-spam control; and Net Disk, a network hard disk product, which facilitates Internet-based file transfer, sharing, and management, as well as supports other functions, such as data processing of short message folders and synchronization of mobile devices. Its service applications products also include Internet Short Messaging Gateway, a business support platform for value-added short messaging services; and Device Management Platform that enables mobile operators to manage various mobile devices and perform remote mobile device management, such as remote diagnosis and parameter setup. In addition, it offers software enhancement and maintenance, system integration, and other value-added IT consulting and planning services. The company was formerly known as AsiaInfo Holdings, Inc. and changed its name to AsiaInfo-Linkage, Inc. in July 2010. AsiaInfo-Linkage, Inc. was founded in 1993 and is headquartered in Beijing, the People?s Republ ic of China.
Advisors' Opinion:- [By Bloomberg News]
��he prospects of Chinese equities are positive for the long-term, but near-term there are some execution risks with regard to implementing reforms,��said Teresa Chow, a Hong Kong-based money manager who helps oversee about $1.5 billion at RBC Investment (Asia) Ltd. ��ainland investors seem to have more reasonable expectations.��
- [By Jonathan Burgos]
��arkets are entering a period of uncertainty,��said Yoji Takeda, Hong Kong-based head of Asian equities at RBC Investment (Asia) Ltd., which oversees $1.5 billion. ��here�� a policy vacuum in Japan and the government isn�� going to come up with new policies until parliament resumes sessions in September. While the possible tapering of U.S. stimulus has been more or less priced in, people tend to be a little bit cautious until it happens.��
- [By Rajhkumar K Shaaw]
BNP Paribas Securities (Asia) Ltd., Macquarie Capital Securities (India) Pvt. and Ambit Capital Pvt. cut their Sensex targets as the Reserve Bank of India unexpectedly increased its benchmark interest rate to stem a record decline in the rupee and curb consumer prices in the world�� second-most populous nation. Strategists reduced their average profit estimate by 4.5 percent as higher borrowing costs threaten to worsen the slowest economic expansion since 2009.
- [By Kana Nishizawa]
��he market is still optimistic about the detailed reform plan�� said Teresa Chow, a fund manager at RBC Investment (Asia) Ltd., which oversees $1.5 billion. ��ince Hong Kong and China markets are underweighted by many fund managers, some of them might want to increase their weighting.��
Top Safest Stocks To Invest In 2015: Retractable Technologies Inc. (RVP)
Retractable Technologies, Inc. designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare industry in the United States and internationally. Its products include VanishPoint 0.5mL insulin syringes; 1mL tuberculin, insulin, and allergy antigen syringes; 0.5mL, 2mL, 3mL, 5mL, and 10mL syringes; small diameter tube adapters; blood collection tube holder; allergy trays; IV safety catheters; Patient Safe syringes; Patient Safe Luer Caps; and VanishPoint blood collection set, as well as autodisable syringes. The company sells its products to healthcare providers, such as acute care hospitals, alternate care facilities, doctors� offices, clinics, emergency centers, surgical centers, convalescent hospitals, veterans administration facilities, military organizations, public health facilities, and prisons. Retractable Technologies, Inc. distributes its products through a direct marketing network; and general line and specialty distributors, as well as through international distributors. The company was founded in 1994 and is headquartered in Little Elm, Texas.
Advisors' Opinion:- [By Holly LaFon]
Chip Skinner is a portfolio manager and principal of Royce & Associates, LLC, investment advisor to The Royce Funds. He serves as portfolio manager for Royce Value Plus Fund (RVP) and serves as an assistant portfolio manager for Royce Low-Priced Stock Fund (RLP). The thoughts expressed in this piece are solely those of the person speaking and may differ from those of other Royce investment professionals, or the firm as a whole. There can be no assurance with regard to future market movements.
- [By Holly LaFon]
Chip Skinner is a portfolio manager and principal of Royce & Associates, LLC, investment adviser to The Royce Funds. He is the portfolio manager of Royce Value Plus Fund (RVP) and an assistant portfolio manager of Royce Low-Priced Stock Fund (RLP). The thoughts and opinions expressed in the interview are solely his own and may differ from those of other Royce investment professionals, or the firm as a whole. There can be no assurance with regard to future market movements.
- [By Holly LaFon]
Whitney George is Director of Investments, Managing Director, and a Portfolio Manager of Royce & Associates, LLC, investment advisor to The Royce Funds. He serves as portfolio manager for Royce Premier Fund (RPR), Royce Low-Priced Stock Fund (RLP), Royce Global Value Fund (RGV), Royce SMid-Cap Value Fund (RSV), and Royce Focus Trust (FUND). He also serves as assistant portfolio manager for Royce Micro-Cap Fund (RMC), Royce Value Fund (RVV), Royce Value Plus Fund (RVP), Royce Focus Value Fund (RFV), and Royce Capital Fund ��Micro-Cap Portfolio (RCM). Mr. George's thoughts in this interview concerning the stock market are solely his own and, of course, there can be no assurance with regard to future market movements.
Top Safest Stocks To Invest In 2015: Fresh Del Monte Produce Inc.(FDP)
Fresh Del Monte Produce Inc., through its subsidiaries, produces, transports, sources, markets, and distributes fresh and fresh-cut fruit and vegetables worldwide. It also offers prepared fruit and vegetables, juices, beverages, snacks, and poultry and meat products. The company provides various fresh-cut fruit products, such as bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, kiwi, strawberries, plantains, mangos, and fruit cocktail; and fresh-cut vegetable products primarily consisting of potatoes, onions, bell peppers, and cucumbers, as well as prepared salads, such as coleslaw and potato salad. In addition, Fresh Del Monte Produce engages in ocean freight; and manufacture of plastics and box products comprising bins, trays, bags, and boxes. It offers fresh produce under the DEL MONTE, UTC, and Rosy brands; and prepared fruits and vegetables, juices, beverages, and snacks under the DEL MON TE, Fruit Express, Just Juice, and Fruitini brands. The company markets and distributes its products to retail stores, food clubs, wholesalers, distributors, and foodservice operators. Fresh Del Monte Produce Inc. was founded in 1886 and is based in George Town, Cayman Islands.
Advisors' Opinion:- [By Lauren Pollock]
Fresh Del Monte Produce Inc.(FDP) said sales rose in the fourth quarter, driven by a surge in its banana business. The company, however, posted a wider net loss due to higher impairment charges and costs.
- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Fresh Del Monte Produce (NYSE: FDP ) , whose recent revenue and earnings are plotted below. - [By Rich Duprey]
Slipped on a banana peel
Maybe they were just envious of rival Fresh Del Monte Produce (NYSE: FDP ) , which had served up a buyback plan the week before they did and wanted to show they had the financial wherewithal, too.� - [By Jake L'Ecuyer]
Top decliners in the sector included Fresh Del Monte Produce (NYSE: FDP), off 8.8%, and Coca-Cola Company (NYSE: KO), down 3.5%. Shares of Fresh Del Monte tumbled after the company reported weak quarterly earnings.
Top Safest Stocks To Invest In 2015: Paychex Inc.(PAYX)
Paychex Inc., together with its subsidiaries, provides payroll, human resource, and benefits outsourcing solutions for small-to medium-sized businesses in the United States and Germany. It offers payroll processing services, including calculation, preparation, and delivery of employee payroll checks; production of internal accounting records and management reports; preparation of federal, state, and local payroll tax returns; and collection and remittance of clients? payroll obligations. The company also provides payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. Its human resource outsourcing services include payroll, employer compliance, human resource and employee benefits administration, risk management outsourcing, and the on-site availability of a professionally trained human resource representative, as well as provides employee handbooks, management manuals, and r equired regulatory forms. In addition, the company offers retirement services administration; workers? compensation; business-owner policies; commercial auto; and health and benefits coverage, including health, dental, vision, and life. Further, it provides online human resource administration software products for employee benefits management and administration, and time and attendance solutions. As of May 31, 2010, the company served approximately 536,000 clients in the United States; and 1,700 clients in Germany. Paychex, Inc. was founded in 1971 and is headquartered in Rochester, New York.
Advisors' Opinion:- [By Sue Chang]
Paychex (PAYX) �is projected to report first-quarter earnings of 43 cents a share, according to a consensus survey by Thomson Reuters. ��e expect the core payroll business to show continued weakness in fiscal 1Q at 3.0% growth,��Jason Kupferberg, an analyst at Jefferies, said in a note.
- [By Rich Smith]
ADP stock is worse than average
ADP shares have been on a bit of a tear these past 12 months, outperforming not just the S&P 500 in general, but also rivals Paychex (NASDAQ: PAYX ) and Intuit (NASDAQ: INTU ) in particular. It's a bit of a mystery, however, understanding why investors like ADP stock so much. - [By Sue Chang and Saumya Vaishampayan]
Paychex Inc. (PAYX) �shares fell 2.2%. The payroll and human resources services company late Monday said its first-quarter profit rose to $162.8 million, or 44 cents a share, from $153.1 million, or 42 cents a share, a year earlier. However, it also said expenses increased 3.7%, mostly due to compensation-related costs.
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