LONDON -- The shares of�National Express� (LSE: NEX ) rallied 2% to 208 pence during early London trade this morning after the coach operator reported an 18% boost in revenues at its North American school bus division.
National Express, which operates buses and coaches in the U.K., North America and Europe, revealed broadly flat revenue performance across its divisions.
The company confirmed it had spent 拢40 million so far this year improving its fleet of vehicles, with a further 拢60 million earmarked for investment in 2013. National Express said it plans to reduce its 拢830 million net debt to two-times pre-tax profits by the end of next year.
Chief executive Dean Finch added: "We have made a positive start to the year, continuing to deliver a high level of value and service to our customers and building our new business pipeline through regular contract wins. Our focus on driving up returns on capital, strong cash generation, organic growth and leveraging our international transport skills to deliver new opportunities is proving to be successful."
Top 10 Paper Stocks To Watch For 2015: Clean Diesel Technologies Inc.(CDTI)
Clean Diesel Technologies, Inc. engages in the manufacture and distribution of emissions control systems and products for heavy duty diesel and light duty vehicle markets. The company operates in two divisions, Heavy Duty Diesel Systems and Catalyst. The Heavy Duty Diesel Systems division designs and manufactures verified exhaust emissions control solutions that are used to reduce exhaust emissions created by on-road, off-road, and stationary diesel and alternative fuel engines, including propane and natural gas. Its products include closed crankcase ventilation systems, diesel oxidation catalysts, diesel particulate filters, Platinum Plus fuel-borne catalysts, ARIS selective catalytic reduction reagents, catalyzed wire mesh diesel particulate filters, alternative fuel products, and exhaust accessories. This division offers its products for original equipment manufacturers of heavy duty diesel equipment, such as mining equipment, vehicles, generator sets, and construction equipment, as well as retrofit customers consisting of school districts, municipalities, and other fleet operators. The Catalyst division produces catalyst formulations using its proprietary MPC technology for gasoline, diesel, and natural gas induced emissions. Its products comprise catalysts for gasoline engines, diesel engines, and energy applications. This division supplies its catalysts to automotive manufacturers and large heavy duty diesel engine manufacturers. The company sells its products through a network of distributors and dealers, and its direct sales force worldwide. Clean Diesel Technologies, Inc. is based in Ventura, California.
Advisors' Opinion:- [By Paul Ausick]
One Nasdaq stock posting outsized gains today is Clean Diesel Technologies Inc. (NASDAQ: CDTI) which is getting a share price boost of 68.85%. The company announced that it will begin shipping emissions control systems��catalysts to Honda in the first half of this year. The stock will close at around $4.82 in a 52-week range of $1.10 to $7.39 (the high was set today and was nearly double Monday�� closing price of $2.83). Volume was about 36-times the daily average of around nearly 525,000 shares traded.
- [By Bryan Murphy]
Look out Clean Diesel Technologies, Inc. (NASDAQ:CDTI), and Cummins Inc. (NYSE:CMI), you may want to take notice too. Little HydroPhi Technologies Group, Inc. (OTCMKTS:HPTG) is about to make a big splash in your pool, which could make life very difficult and much easier (respectively) for the two of you. How's that? In simplest terms, all signs point to HydroPhi Technologies' diesel efficiency working quite well, saving those who use it money, while simultaneously saving the environment.
- [By James E. Brumley]
Did you miss today's 123% pop from Clean Diesel Technologies, Inc. (NASDAQ:CDTI)? If you didn't chase it higher after the bullish gap left behind at the open, then good for you - you made the right choice. As tempting as CDTI looked then (and still does), the bulk of any near-term gain here has already been realized, and there's no real point in jumping on the bandwagon now. Fear not if you missed the big move from Clean Diesel Technologies though. There's another, smaller name playing the same game, and you won't have to pay a fortune for it just to take a big risk.
Best International Stocks To Watch Right Now: UBS AG (UBSN.VX)
UBS AG, incorporated on February 28, 1978, is a client-focused financial services company that offers a combination of wealth management, asset management and investment banking services on a global and regional basis. UBS AG is the parent company of the UBS Group (Group).The operational structure of the Company consists of the Corporate Center and four business divisions: Wealth Management & Swiss Bank, Wealth Management Americas, Global Asset Management and the Investment Bank. As of December 31, 2011, the Company operated about 877 business and banking locations worldwide, of which about 42% were in Switzerland, 42% in the Americas, 11% in the rest of Europe, Middle East and Africa, and 5% in Asia-Pacific. During the year ended December 31, 2011, it completed acquisitions in Global Asset Management and in the equities business of the Investment Bank. In November 2011, investment management responsibility for a private equity fund of funds was transferred to Global Asset Management from Wealth Management & Swiss Bank. In October 2011, Global Asset Management acquired ING Investment Management Limited business in Australia. In July 2011, the infrastructure and private equity fund of funds businesses were transferred from its alternative and quantitative investment area to its infrastructure investment area. In January 2011, investment management responsibility for a multi-manager alternative fund was transferred to Global Asset Management from Wealth Management & Swiss Bank.
Wealth Management
Wealth Management provides wealthy private clients with financial advice, products and tools to fit their individual needs. As of December 31, 2011, Wealth Management had presence in over 40 countries and approximately 200 wealth management and representative offices, half of which are outside Switzerland, mostly in Europe, Asia Pacific, Latin America and the Middle East. During 2011, the Company had CHF 750 billion of invested assets. The Company offers products and services to private! clients, focusing in particular on the ultra-high-net-worth (clients with investable assets of more than CHF 50 million) and high-net-worth client segments (clients with investable assets between CHF 2 million and CHF 50 million). In addition, it also provides wealth management solutions, products and services to financial intermediaries. Wealth Management has a presence in over 40 countries and approximately 200 wealth management and representative offices, half of which are outside Switzerland, mostly in Europe, Asia Pacific, Latin America and the Middle East.
The Company�� Global Financial Intermediaries (Global FIM) business serves approximately 1,700 asset managers. It provides its clients with the financial advice, products and tools. The Company�� clients can trade a range of financial instruments from single securities, such as equities and bonds, to various investment funds, structured products and alternative investments. Additionally, it offers structured lending, corporate finance and wealth planning advice on client needs, such as funding for education, inheritance and succession. For its ultra high net worth clients, it offers institutional-like servicing that provides access to its Investment Bank and Global Asset Management offerings. Wealth Management also gives clients access to the knowledge, and product and service offerings from Global Asset Management and the Investment Bank, complemented by an open product platform providing access to an array of products from third-party providers.
The Company competes with Credit Suisse, Julius Bar, HSBC, Deutsche Bank, JP Morgan, Citigroup, Barclays and Unicredit.
Retail & Corporate
The Company delivers financial products and services to its retail, corporate and institutional clients. The Retail & Corporate unit is a core element of UBS Switzerland�� universal bank delivery model. As of December 31, 2011, the Company had a network of around 300 branches, 1,250 automated teller machines! , self-se! rvice terminals and customer service centers, alongside e-banking and mobile banking. The Company�� retail clients have access to offering, including cash accounts, payments, savings and retirement solutions, investment fund products, residential mortgages, as well as life insurance and advisory services. It provides financing solutions to its corporate clients, offering access to capital markets (equity and debt capital), syndicated and structured credit, private placements, leasing and traditional financing. The Company�� transaction banking offers solutions for payments and cash management services, trade and export finance, receivable finance, as well as global custody solutions to institutional clients.
The Company competes with Credit Suisse, Raiffeisen and PostFinance.
Wealth Management Americas
Wealth Management Americas provides advice-based relationships through its financial advisors, who deliver a range of wealth management solutions. On December 31, 2011, the business division had CHF 709 billion in invested assets. Wealth Management Americas consisted of branch networks in the United States, Puerto Rico and Canada, with 6,967 financial advisors as of 31 December 2011. Most corporate and operational functions of the business division are located in the home office in Weehawken, New Jersey. In the United States and Puerto Rico, Wealth Management Americas operates through direct and indirect subsidiaries of UBS AG. Securities and operations activities are conducted primarily through two broker-dealers, UBS Financial Services Inc. and UBS Financial Services Incorporated of Puerto Rico. Its banking services in the United States include those conducted through the UBS AG branches and UBS Bank USA, a federally regulated Utah bank, which provides Federal Deposit Insurance Corporation (FDIC) insured deposit accounts. It includes the domestic US business, the domestic Canadian business and international business booked in the United States.
Ca! nadian we! alth management and banking operations are conducted through UBS Bank (Canada). The Company�� include wealth accumulation and preservation, income generation and portfolio diversification. The Company�� advisors work closely with internal consultants in areas, such as wealth planning, portfolio strategy, retirement and annuities, alternative investments, managed structured products, banking and lending, equities, and fixed income accounts, structured products, banking and lending, equities, and fixed income retirement and annuities, alternative investments, managed accounts, structured products, banking and lending, equities, and fixed income. It also offers lending and cash management services, such as securities-backed lending, the resource management account, FDIC-insured deposits, mortgages and credit cards. For corporate and institutional clients, it offers a range of solutions, including equity compensation, administration, investment consulting, defined benefit and contribution programs and cash management services. It offers a range of equity and fixed income instruments.
The Company competes with Bank of America, Morgan Stanley and Wells Fargo.
Global Asset Management
The Company serves third-party institutional and wholesale clients and the clients of UBS�� wealth management businesses. The Company�� fund services unit, a global fund administration business, provides professional services, including legal fund set-up, accounting and reporting. Invested assets totaled CHF 574 billion and assets under administration were CHF 375 billion on December 31, 2011. Global Asset Management serves third-party institutional and wholesale clients, and the clients of UBS�� wealth management businesses. Global Asset Management�� business lines include traditional investments (equities, fixed income and global investment solutions); alternative and quantitative investments; global real estate; infrastructure and private equity, and fund services.
Global ! investment solutions offer asset allocation, currency, multi-manager, structured solutions, risk advisory and strategic investment advisory services. Alternative and quantitative investments has two primary business lines-Alternative Investment Solutions (AIS) and O��onnor. AIS offers a range of hedge fund solutions and advisory services, including multi-manager strategies. O��onnor is a provider of single-manager global hedge funds. Global real estate manages real estate investments globally and regionally within Asia, Europe, Switzerland and the United States. Infrastructure and private equity manages direct infrastructure investment and multi-manager infrastructure and private equity strategies for both institutional and high net worth investors. Infrastructure asset management manages direct investments in core infrastructure assets worldwide. Fund services, the global fund administration business, provides professional services, including legal set-up, reporting and accounting for retail and institutional investment funds, hedge funds and other alternative products.The Company competes with Fidelity Investments, AllianceBernstein Investments, BlackRock, JP Morgan Asset Management and Goldman Sachs Asset Management.
Investment Bank
The Investment Bank provides a range of products and services in equities, fixed income, foreign exchange and commodities to corporate and institutional clients, sovereign and government bodies, financial intermediaries, alternative asset managers and UBS�� wealth management clients. The Investment Bank has three business areas: equities, fixed income, currencies and commodities (FICC), and the investment banking department. The Company operates through branches and subsidiaries of UBS AG. Securities activities in the United States are conducted through UBS Securities LLC, a broker-dealer. Securities research provides investment analysis across a range of asset classes of more than 3,400 companies worldwide.
The ! Company p! articipates in the primary and secondary markets for cash equity and equity-related products, including listed options, structured products, equity-linked securities, swaps, futures and over-the-counter (OTC) derivative contracts. Cash equities provide clients with liquidity, investment advisory, trade execution and related consultancy services. It offers trade execution for single stocks and portfolios, including capital commitment, block trading, small-cap execution and commission management services. In addition, it also provides clients with a range of electronic trading algorithms and analytical tools. Derivatives and equity-linked provides a range of flow, structured, synthetic and equity-linked products with worldwide access to primary and secondary markets.
Prime services offer brokerage business, including clearing and custody, capital consultancy, financing, securities lending and equity swaps execution. The FICC business area delivers products and solutions to corporate, institutional and public-sector clients in all markets, as well as to private clients via targeted intermediaries. Macro consists of the foreign exchange, money market and interest rate sales and trading businesses, as well as cash and collateral trading. It provides a range of foreign exchange, precious metals, treasury, and liquidity management solutions to institutional and private clients via targeted intermediaries. Credit sales and trading consists of the origination, underwriting, trading and distribution of cash and synthetic products across the credit spectrum - bonds, derivatives, notes and loans.
The investment banking department provides advice and a range of capital markets execution services to corporate clients, financial institutions, financial sponsors, sovereign clients and hedge funds. The Company also provides liquidity in local markets across foreign exchange, credit, rates and structured products. The advisory group assists in acquisitions and sale processes, and also advises on! reviews ! and corporate restructuring solutions. Global capital markets is a joint venture with the securities business. It offers financing and advisory services that cover all forms of capital raising, as well as risk management solutions. Global leveraged finance provides event-driven (acquisition, leveraged buyout) loans, and bond and mezzanine leveraged finance to corporate clients and financial sponsors.
The Company competes with Bank of America/Merrill Lynch, Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan Chase and Morgan Stanley.
Advisors' Opinion:- [By Paul Vigna]
After rising as high as 1897 intraday, the S&P 500 took a straight dive down, and is now bouncing and churning around this key support level. The index tested it briefly at the open, falling to 1841.95, bounced off it again, then came back to it again. The day’s low, so far, is 1839.92. UBS's(UBSN.VX) Art Cashin puts the critical range between 1837-1840. John O’Hara at FBN thinks the market is going to churn in the 1820-1840 area this week, and test that lower boundary. “That would be a good set-up for a rally into week’s end,” he wrote.
- [By Telis Demos]
UBS AG(UBSN.VX) has named a new head of its U.S. group that works on complex stock financings and investments for companies and wealthy individuals.
Best International Stocks To Watch Right Now: Fortress Investment Group LLC (FIG)
Fortress Investment Group LLC (Fortress) is a global investment management firm. Its offering of alternative investment products includes private equity funds, liquid hedge funds and credit funds. In addition, it offers traditional investment products. As of December 31, 2011, it managed alternative assets in three businesses: Private Equity, Liquid Hedge Funds and Credit Funds. Private Equity is a business, which manages assets under management (AUM) consisted of two business segments: private equity funds, which make investments in debt and equity securities of public or privately held entities in North America and Western Europe, and publicly traded alternative investment vehicles, which it refer to as Castles, which invest in real estate and real estate related debt investments. Liquid Hedge Funds invest globally in fixed income, currency, equity and commodity markets and related derivatives. Credit Funds is a business, which manages AUM consisted of two business segments: credit hedge funds which make investments in assets, opportunistic lending situations and securities, on a global basis and throughout the capital structure, as well as non-Fortress originated funds, for which Fortress has been retained as manager as part of an advisory business, and credit private equity (PE) funds, which are consisted of a family of credit opportunities funds focused on investing in distressed and undervalued assets, a range of long dated value funds focused on investing in undervalued assets with cash flows and long investment horizons, a range of real assets funds focused on investing in tangible and intangible assets in four principal categories (real estate, capital assets and natural resources), a family of Asia funds, including Japan real estate funds and an Asian investor based global opportunities fund, and a range of real estate opportunities funds.
Private Equity Funds
The Company�� private equity business is made up of a series of funds named the Fortress Investment Funds! and organized to make control-oriented investments in cash flow generating, asset-based businesses in North America and Western Europe. Investors in its private equity funds contractually commit capital at the outset of a fund, which is then drawn down as investment opportunities become available, generally over a one to three year investment period. Management fees of 1% to 1.5% are generally charged on committed capital during the investment period of a new fund, and then on invested capital (or net asset value (NAV), if lower). It also earns a 10% to 25% share of the profits on each realized investment in a fund.
The Company manages two companies: Newcastle Investment Corp. and Eurocastle Investment Limited, which it calls its Castles. It earns management fees from each Castle equal to 1.5% of the company�� equity. In addition, it earns incentive income equal to 25% of the company�� funds from operations (FFO) in excess of specified returns to the Company�� shareholders. In addition to these fees, it also receives from the Castles, for services provided, options to purchase shares of their common stock in connection with each of their common stock offerings.
Liquid Hedge Funds
The Fortress Macro Funds, and Fortress�� legacy macro-strategy funds, the Drawbridge Global Macro Funds, apply an investment process based on macroeconomic fundamental, market momentum and technical analyses. The funds have the flexibility to allocate capital dynamically across a range of global strategies, markets and instruments as opportunities change, and are designed to take advantage of a range of sources of market, economic and pricing data to generate trading ideas. The fund invests in developed markets; they also invest in emerging markets if market conditions present opportunities for attractive returns. The funds pursue global macro directional and relative value strategies. Management fees are charged based on the AUM of the Fortress Macro Funds at a rate between 1.5%! and 2% a! nnually, depending on the investment and liquidity terms elected by investors. It earns incentive income of between 15% and 25% of the fund�� profits, generally payable annually, depending on the investment and liquidity terms elected by investors. In other words, an incentive income payment establishes a high water mark, such that the fund must earn a cumulative positive return from that point forward in order for Fortress to earn incentive income. Investors in the Fortress Macro Funds may invest with the right to redeem without paying any redemption fee either monthly, quarterly, or annually after three years. Investors with three-year liquidity may redeem annually before three years, subject to an early redemption fee payable to the funds.
The Fortress Asia Macro Funds invest in global fixed income, commodities, currency and equity markets, and their related derivatives, thematically related to the Asia-Pacific region through a fundamental macroeconomic strategy, which focuses on liquid investments. The funds��investment program focuses on global trading and capital flows. Management fee rates for these funds range from 1.5% to 2% and it earns incentive income equal to 20% of their profits. Commodities Funds invests across multiple sectors within the commodity asset class ranging from energy to metals to agriculture and within the cyclical, industrial, and commodity equity universe. Management fee rates for these funds range from 1.5% to 2% and it earns incentive income equal to 20% of their profits. The Fortress Partners Fund�� investments are made both in Fortress Funds and in funds managed by other managers, and in direct investments that are sourced either by Fortress personnel or by third parties with whom it has relationships. Management fee rates for these funds range from 1% to 1.5% and it earns incentive income generally equal to 20% of the profits from direct investments only.
Credit Funds
The Company�� credit hedge funds are designed to exploi! t pricing! anomalies, which exist between the public and private finance markets. It has developed a network consisted of internal and external resources to source transactions for the funds. The funds are able to invest in a range of financial instruments, ranging from assets, opportunistic lending situations and securities throughout the capital structure with a value orientation.
The Drawbridge Special Opportunities Funds form the core of the Company�� credit hedge fund investing strategy. The funds acquire a portfolio of investments throughout the United States, Western Europe and the Pacific region. Management fees are charged based on the AUM of the Drawbridge Special Opportunities Funds at a rate generally equal to 2% annually. It earns incentive income of 20% of the fund�� profits, payable annually, and subject to achieving cumulative positive returns since the prior incentive income payment. Investors in the Drawbridge Special Opportunities Funds may redeem annually on December 31. The Worden Funds invest in a portfolio of undervalued and distressed investments in North America and Western Europe, but also in Australia, Asia and elsewhere on an opportunistic basis. Management fees are charged based on the AUM of the Worden Funds at a rate generally equal to 2% annually. It earns incentive income of 20% of the funds��profits.
The Company�� credit PE funds are of families of funds. They have management fee rates between 1% and 1.5% and generate incentive income of between 10% and 20% of a fund�� profits subject to the fund achieving a minimum return as a whole. Fortress through Fortress Credit Opportunities Funds make opportunistic credit-related investments. In addition to its Fortress Investment Fund family of funds, it has a private equity fund product, the Long Dated Value family of funds, which focuses on making investments with long dated cash flows. Its Real Assets Funds invest in tangible and intangible assets. The investment program of these funds focuses on di! rect inve! stments in four principal investment categories: real estate, capital assets and natural resources, but also may include indirect investments in the form of interests in real estate investment trusts (REITs), master limited partnerships, corporate securities, debt securities and debt obligations, including those that provide equity upside, as well as options, royalties, residuals and other call rights. The investments are located in North America and Western Europe. Fortress Japan Opportunity Funds focus to invest in Japanese real estate-related performing, sub-performing and non-performing loans, securities and similar instruments. Real Estate Opportunities Funds make opportunistic commercial real estate investments.
Advisors' Opinion:- [By Inyoung Hwang]
He currently has buy recommendations on private-equity firm Fortress Investment Group LLC (FIG) and Zions Bancorporation. (ZION)
Analysts SurveyedTo compile the ranking, Stamford, Connecticut-based Greenwich Associates surveyed 945 buy-side analysts at 190 investment management firms, mutual funds, hedge funds, pension funds and insurers from December to March. The analysts were asked to name the Wall Street research teams they considered their most important sources of advice on investments.
- [By Amanda Alix]
This turn of events worked in favor of Fortress Investment Group's (NYSE: FIG ) portfolio, which held the former Centex Corp, the subprime mortgage lending unit of a Texas homebuilder. That company is now Nationstar, which is definitely doing its fair share to add to its parent's bottom line. Also owned by Fortress is Newcastle Investment (NYSE: NCT ) , the diversified REIT with an involvement in almost anything to do with real estate, whether residential or commercial.
Best International Stocks To Watch Right Now: CTS Corporation (CTS)
CTS Corporation engages in the design, manufacture, assembly, and sale of electronic components and sensors, as well as the provision of electronics manufacturing services. It offers automotive sensors and actuators used in commercial or consumer vehicles; electronic components used in communications infrastructure and computer markets; components used in computer and other high-speed applications, switches, resistor networks, and potentiometers; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, defense and aerospace, and computer markets. The company markets and sells its products through its sales engineers, independent manufacturers� representatives, and distributors. It has operations in China, Japan, Scotland, Singapore, India, Taiwan, and the United States. CTS Corporation was founded in 1896 and is based in Elkhart, Indiana.
Advisors' Opinion:- [By Seth Jayson]
CTS (NYSE: CTS ) reported earnings on July 22. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), CTS missed estimates on revenues and beat expectations on earnings per share.
Best International Stocks To Watch Right Now: Chemical Financial Corporation(CHFC)
Chemical Financial Corporation operates as the financial holding company for Chemical Bank that offers banking and fiduciary products and services in Michigan. Its products and services include business and personal checking accounts, savings and individual retirement accounts, time deposit instruments, electronically accessed banking products, residential and commercial real estate financing, commercial lending, consumer financing, debit cards, safe deposit box services, money transfer services, automated teller machines, access to insurance and investment products, corporate and personal wealth management services, and other banking services. The company also provides mutual funds, annuity products, and market securities to customers, as well as issues title insurance to buyers and sellers of residential and commercial mortgage properties, including properties subject to loan refinancing. As of January 26, 2012, Chemical Financial Corporation operated 142 banking offices in approximately 32 counties in the lower peninsula of Michigan. The company was founded in 1973 and is headquartered in Midland, Michigan.
Advisors' Opinion:- [By Marc Bastow]
Financial services holding company Chemical Financial (CHFC) raised its quarterly dividend 4.5% to 23 cents per share, payable on Dec. 20 to shareholders of record as of Dec. 6.
CHFC Dividend Yield: 2.98%
Best International Stocks To Watch Right Now: Rowan Companies Inc.(RDC)
Rowan Companies, Inc. provides onshore and offshore oil and gas contract drilling services in the United States and internationally. The company offers its contract drilling services through its fleet of 28 self-elevating mobile offshore drilling platforms and 30 deep-well land drilling rigs. The company was founded in 1923 and is headquartered in Houston, Texas.
Advisors' Opinion:- [By Dimitra DeFotis]
Among energy stocks rising today: Producers of gas and gas liquids were higherm, including Devon (DVN) and�Consol Energy (CNX) rose about 2% each, while drillers�Nabors Industries (NBR) and�Rowan Companies (RDC) jumped more than 3% apiece. Oilfield services names Halliburton (HAL) and Baker Hughes (BHI) each rose nearly 2%.
- [By Ben Levisohn]
This year started so badly for Seadrill (SDRL), Transocean (RIG) and Rowan (RDC) and other offshore drillers that it shouldn’t come as a surprise that some investors are seeing value in their beaten down shares. The folks at Raymond James, however, see conditions at offshore drillers getting worse before they get better.
- [By Ben Levisohn]
In fact, it’s a good day for offshore drillers all around, as Atwood Oceanics (ATW) has jumped 2.3% to $40.80, Rowan (RDC) has climbed 2.1% to $22.923 and Transocean (RIG) has advanced 0.7% to $28.98 and Noble (NE) is up 1.1% at $19.72.
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