If the federal government shuts down next week, the economic impact would be small at first but grow quickly.
A partial shutdown would cut the economy's annual growth rate in the fourth quarter by 0.2 percentage points, to 2.5%, even if it ended in three or four days, Moody's Analytics chief economist Mark Zandi told the Senate Budget Committee Tuesday.
A three-to-four week impasse could reduce growth by 1.4 percentage points ��effectively cutting the economy's expected growth rate by half or more. About half of civilian government workers wouldn't be able to go to work, and their lost pay would represent about half of the short-term economic impact, Zandi estimated.
"Shutting the government down for three or four weeks would do significant economic damage,'' Zandi said. "Any interruption longer than a month would cause GDP to fall for the quarter, and one longer than two months would likely precipitate another recession.''
Best Retail Companies To Own For 2015: Permian Basin Royalty Trust (PBT)
Permian Basin Royalty Trust (the Trust), incorporated in 1980, is an express trust. The Trust's principal assets are net overriding royalties conveyed to the Trust, including a 75% net overriding royalty carved out of Southland Royalty�� fee mineral interests in the Waddell Ranch in Crane County, Texas (the Waddell Ranch properties), and a 95% net overriding royalty carved out of Southland Royalty�� major producing royalty interests in Texas (the Texas Royalty properties). Bank of America, N.A. is the Trustee for the Trust.
Waddell Ranch Properties
The mineral interests in the Waddell Ranch, from which such net royalty interests are carved, vary from 37.5% (Trust net interest) to 50% (Trust net interest) in 78,715 gross (34,205 net) producing acres. A majority of the proved reserves are attributable to six fields: Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell. At December 31, 2012, the Waddell Ranch properties contained 889 gross (400 net) productive oil wells, 64 gross (30 net) productive gas wells and 177 gross (506 net) injection wells.
Burlington Oil & Gas Company LP (BROG) is the operator of the Waddell Ranch properties. As of December 31, 2012, six major fields on the Waddell Ranch properties account for more than 80% of the total production. In the six fields, there are 12 producing zones ranging in depth from 2,800 to 10,600 feet. Most prolific of these zones are the Grayburg and San Andres, which produce from depths between 2,800 and 3,400 feet. Also productive from the San Andres are the Sand Hills (Judkins) gas field and the Sand Hills (McKnight) oil field, the Dune (Grayburg/San Andres) oil field, and the Waddell (Grayburg/San Andres) oil field.
The Dune and Waddell oil fields are productive from both the Grayburg and San Andres formations. The Sand Hills (Tubb) oil fields produce from the Tubb formation at depths averaging 4,300 feet, and the University Waddell (Devo! nian) oil field is productive from the Devonian formation between 8,400 and 9,200 feet. The Waddell Ranch properties are producing properties, and all of the major oil fields are being waterflooded for the purpose of facilitating enhanced recovery. As of December 31, 2012, there were no drill wells and 13 workovers in progress on the Waddell Ranch properties.
Texas Royalty Properties
The Texas Royalty properties consist of royalty interests in mature producing oil fields, such as Yates, Wasson, Sand Hills, East Texas, Kelly-Snyder, Panhandle Regular, N. Cowden, Todd, Keystone, Kermit, McElroy, Howard-Glasscock, Seminole and others located in 33 counties across Texas. The Texas Royalty properties consist of approximately 125 separate royalty interests containing approximately 303,000 gross (approximately 51,000 net) producing acres.
Advisors' Opinion:- [By Rick Munarriz]
Permian Basin Royalty Trust (NYSE: PBT ) is also flowing more freely with its distributions. The trust's new rate of $0.088488 per unit may seem to be a numerical stretch, but it's a healthy 45% pop from its prior monthly payout. Increased oil production and higher oil prices helped the company generate more money that it passes on to its investors.
- [By Lawrence Meyers]
Permian Basin Royalty Trust (PBT) is a royalty trust, meaning it pools together royalty rights for various energy-producing properties. �I prefer trusts that are widely diversified.� In this case, Permian holds a 75% net overriding royalty interest in six properties in Crane County, Texas; and a 95% net overriding royalty interest in fields spread across 33 other counties in Texas.� In total, we��e talking 400 oil wells, 30 gas wells, and 500 injection wells. �That�� plenty diversified.� Yeehaw for its 8.3% yield!
Top Healthcare Equipment Companies To Own For 2014: FXCM Inc. (FXCM)
FXCM Inc., through its subsidiaries, provides online foreign exchange (FX) trading and related services to retail and institutional customers worldwide. It operates in two segments, Retail Trading and Institutional Trading. The company acts as an agent between retail customers and a collection of global banks and financial institutions by making foreign currency markets for customers trading in foreign exchange spot markets. It offers spot FX trading in approximately 58 currency pairs; enables non-U.S. customers to trade contract for differences that include contracts for metals, fixed income, energy and stock indices; and provides spread betting trading to the United Kingdom customers. The company also offers equity and equity option trading for customers outside of the United States to trade equity and options on the United Kingdom, continental Europe, and the United States markets. FXCM Inc. offers its customers access to over-the-counter FX markets through its propriet ary technology platform. The company was incorporated in 2010 and is headquartered in New York, New York.
Advisors' Opinion:- [By John Udovich]
Small cap stocks FXCM Inc (NYSE: FXCM), Gain Capital Holdings Inc (NYSE: GCAP) and up and coming�Indo Global Exchanges PteLtd (OTCMKTS: IGEX) all offer online trading platforms to retail or institutional traders and investors. Certainly if you have found yourself trading more lately or if markets become more volatile, trading platforms are going to be the big winners.�With that in mind, here is a close look at these three small cap trading platform stocks:�
Top Healthcare Equipment Companies To Own For 2014: Centene Corporation (CNC)
Centene Corporation provides multi-line healthcare programs and services in the United States. It operates in two segments, Medicaid Managed Care and Specialty Services. The Medicaid Managed Care segment provides Medicaid and Medicaid-related health plan coverage to individuals through government subsidized programs, including Medicaid, the State children�s health insurance program, long-term care, foster care, and Medicare special needs plans, as well as aged, blind, or disabled programs. Its health plans provide primary and specialty physician care, inpatient and outpatient hospital care, transportation assistance, emergency and urgent care, vision care, prenatal care, dental care, laboratory and x-ray services, immunizations, prescriptions and over-the-counter drugs, home health and durable medical equipment, behavioral health and substance abuse services, therapies, social work services, care coordination, and 24-hour nurse advice line. The Specialty Services segment manages behavioral healthcare for members; provides health insurance to individual customers and their families; implements life and health management programs; offers long-term care services to the elderly and people with disabilities; and administers routine and medical surgical eye care benefits through its network of eye care providers. It also offers telehealth services; and claims processing, pharmacy network management, benefit design consultation, drug utilization review, formulary and rebate management, specialty and mail order pharmacy services, and patient and physician intervention services, as well as provides care management solutions that automate the clinical, administrative, and technical components of care management programs. The company offers its services through primary and specialty care physicians, hospitals, and ancillary providers. Centene Corporation was founded in 1984 and is headquartered in St. Louis, Missouri.
Advisors' Opinion:- [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 Centene (NYSE: CNC ) , whose recent revenue and earnings are plotted below. - [By Lauren Pollock]
Centene Corp.(CNC) agreed to acquire a roughly 68% interest in U.S. Medical Management LLC, a provider of in-home health services, for $200 million in cash and stock as the Medicaid insurer continues to expand its stable of services. Centene also said it is forming a new health-care enterprise holding company that will connect it and other health solution providers.
- [By Holly LaFon]
Importantly, we like the industry in which Centene (CNC) competes. Some of our investors might recall that one of our prior investments, Amerigroup, was acquired in 2012 by Wellpoint at a val uation that allowed us to achieve a return on investment of greater than 100% over the roughly one - year time period that we owned the shares. Medicaid managed care companies not only save states money but also offer better service; therefore, more states a re letting managed care companies run their Medicaid programs. To that end, states are expanding both the geographies carved out to managed care companies and the types of programs. The next phase of growth will come from the dual - eligible population. D uals (or dual - eligible population) are 8.3mm 3 people in the U.S. that are eligible to receive both Medicare and Medicaid benefits (mainly low - income seniors). According to the Kaiser Foundation, Duals accounted for almost 40% of Medicaid spending although they made up only 15% of the Medicaid population. We believe there are ample growth opportunities for CNC and other companies to meet the challenges of managing these disparate Medicaid members for the foreseeable future.
- [By Monica Gerson]
Centene (NYSE: CNC) is estimated to report its Q3 earnings at $0.84 per share on revenue of $2.68 billion.
FMC Technologies (NYSE: FTI) is projected to post its Q3 earnings at $0.59 per share on revenue of $1.75 billion.
Top Healthcare Equipment Companies To Own For 2014: Gotesco Land Inc (GO)
Gotesco Land, Inc. (GLI) is the holding company of Ever-Gotesco Group of Companies for its property development projects. The Company is primarily engaged in acquiring, developing, administering, selling, managing or otherwise dealing in real estate transactions. The Company, together with its subsidiaries, operates in two business segments. The real estate segment is engaged in the development and sale of real properties. The leasing segment is egnaged in the leasing of clubhouse and resort facilities. As of December 31, 2011, the Company's wholly owned subsidiaires included Chateau Royale Sports & Country Club, Inc. (CRSCCI), Evercrest Cebu Golf Club & Resort, Inc. (ECGCRI), Gulod Resort, Inc. (GRI), Multiresources Holding Company, Inc. (MHCI) and Nasugbu Resort, Inc. (NRI). Advisors' Opinion:- [By Mark Salzinger, Editor and Publisher, No-Load Fund Investor]
The former are called General Obligation (GO) bonds, while the latter are generally called revenue bonds. In the old days, GOs were considered safer, because they were backed by the full taxing authority of the issuer. Now, revenue bonds are more in vogue.
- [By Emerging Opportunities]
Gross output (GO) measures the total output of an economy, including investments made by businesses in order to produce their goods, such as capital outlays on new equipment, raw materials, or other business-to-business transactions. In Structure, Skousen makes the case that modern economists downplay the importance of the business sector in the economy and overstate the importance of consumer spending. He believes that the GDP should not be used as the sole measure of economic activity.
Top Healthcare Equipment Companies To Own For 2014: Nuveen Municipal High Income Opportunity Fund (NMZ)
Nuveen Municipal High Income Opportunity Fund (the Fund) is a closed-ended fund. The fund's primary investment objective is to provide high current income exempt from regular federal income tax. Its secondary investment objective is to seek attractive total return consistent with its primary objective. The fund invests in municipal securities that are exempt from federal income taxes. The fund invests at least 50% of its managed assets in municipal securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Moody's, and Fitch) or, if they are unrated, are judged by the manager to be of comparable quality. The fund may invest up to 50% of its managed assets in municipal securities that, at the time of investment, are rated below investment grade quality or that are unrated but judged by the manager to be of comparable quality. The Fund�� investment advisor is Nuveen Fund Advisors, Inc. Advisors' Opinion:- [By Jon C. Ogg]
8. Municipal bonds outperform taxable bond counterparts – The move is predicted to be led by high-yield after serious outflows from municipal bond funds. Doll’s take: the pricing of municipal securities relative to taxable fixed income securities more than take that into account.
First Recommendation: Nuveen Municipal High Income Opportunity Fund (NYSEMKT: NMZ) as a high-yield closed-end fund municipal bond fund. The fund may invest up to 50% of its managed assets in municipal securities rated below investment grade quality, but no more than 5% of the managed assets may be invested in munis rated at or below B3/B-. Second recommendation: Market Vectors High-Yield Muni ETF (NYSEArca: HYD)9. Active managers outperform index funds – This stance is one which has been an ongoing issue for years and years with most managers underperforming benchmarks. Doll believes that active managers have a better chance to outperform when markets and sectors have less correlation.
Top Healthcare Equipment Companies To Own For 2014: Culp Inc (CFI)
Culp, Inc., incorporated on March 16, 1972, manufactures, sources, and markets mattress fabrics used for covering mattresses, box springs, and foundations and upholstery fabrics primarily for use in production of upholstered furniture. The Company operates in two segments: mattress fabrics and upholstery fabrics. The mattress fabric business markets woven and knitted fabrics, and sewn covers made from those fabrics, which are used primarily in the production of bedding products, including mattresses, box springs, and foundations. The upholstery fabric business markets a variety of fabric products that are used in the production of upholstered furniture, such as, sofas, recliners, chairs, loveseats, sectionals, and sofa-beds. The Company markets a variety of fabrics in different categories to its global customer base, including fabrics produced at the Company's manufacturing facilities and fabrics produced by other suppliers.
The Company markets products primarily to manufacturers that operate in two principal markets. The mattress fabrics segment supplies the bedding industry, which produces mattress sets (mattresses, box springs, and foundations). The upholstery fabrics segment supplies the residential furniture industry. As of April 28, 2013, the Company had fourteen active manufacturing plants and distribution facilities, which are located in North and South Carolina; Quebec, Canada; Shanghai, China; and Poznan, Poland. The Company also sources fabrics from other manufacturers, located mostly in China and Turkey, with those fabrics being produced specifically for the Company and created by its designers. The Company operates distribution centers in North Carolina and Shanghai, China to facilitate distribution of its products, and a distribution facility in Poznan, Poland.
Mattress Fabrics
The Company�� mattress fabrics segment, also known as Culp Home Fashions, manufactures and markets mattress fabric to bedding manufacturers. These fabrics encompass woven! jacquard fabrics, knitted fabrics, and some converted fabrics. Culp Home Fashions has manufacturing facilities located in Stokesdale and High Point, North Carolina, and St. Jerome, Quebec, Canada. One Stokesdale plant and the St. Jerome plant both manufacture and finish jacquard (damask) fabric. Its products include woven jacquards, which include various patterns and intricate designs, Converted, which includes suedes, pile and embroidered fabrics, and Knitted Fabric, which includes various patterns and intricate designs produced on special-width circular knit machines utilizing a variety of synthetic and natural yarns.
Upholstery Fabrics
The Company�� upholstery fabrics segment markets fabrics for residential furniture, including synthetic leathers, velvets, woven jacquards, woven dobbies, and suedes. This segment operates fabric manufacturing facilities in Anderson, South Carolina, and Shanghai, China. The Company markets fabrics produced in these two locations, as well as a variety of upholstery fabrics sourced from third party producers, mostly in China. Its products include Synthetic Leathers, which includes composite products which are face finished with polyurethane, either by printing or coating, velvets, woven jacquards, and suedes.
The Company competes with Bekaert Textiles B.V., Global Textile Alliance, Richloom Fabrics, Merrimack Fabrics, Morgan Fabrics, and Specialty Textile, Inc.
Advisors' Opinion:- [By Monica Gerson]
Culp (NYSE: CFI) is estimated to post its Q1 earnings at $0.35 per share on revenue of $74.39 million.
Esterline Technologies (NYSE: ESL) is expected to post its Q3 earnings at $1.40 per share on revenue of $516.57 million.
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