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During his campaign for Rhode Island General Treasurer, investment newbie Seth Magaziner (31 year old son of Bill Clinton policy advisor Ira Magaziner) promised greater transparency regarding the state pension’s high-risk, costly opaque alternative investments gamble than his predecessor, Governor Gina Raimondo.

Promises, promises. When was the last time a politician followed through on a promise of greater transparency?

In his first few months in office, Magaziner quickly opted to continue Raimondo’s flawed secrecy policy, refusing to release to local media GoLocalProv uncensored reports on more than a dozen hedge funds in which the state pension fund had invested—despite his campaign pledges. Apparently Wall Street needed protection more than Rhode Island state pension stakeholders.

Shortly thereafter, facing mounting criticism, Magaziner hastily pivoted, rolling out a so-called “Transparent Treasury” initiative in May 2015. “With today’s launch, Rhode Island now has the most transparent state treasury in the country. This commitment to open government will help us produce better financial results for our state,” said Magaziner.

quot stock: J & J Snack Foods Corp.(JJSF)

Advisors’ Opinion:

  • [By Monica Gerson]

    J & J Snack Foods Corp (NASDAQ: JJSF) is estimated to post its quarterly earnings at $0.78 per share on revenue of $231.58 million.

    Nabors Industries Ltd. (NYSE: NBR) is expected to post a quarterly loss at $0.33 per share on revenue of $630.85 million.

quot stock: Scorpio Tankers Inc.(STNG)

Advisors’ Opinion:

  • [By Paul Ausick]

    Scorpio Tankers Inc. (NYSE: STNG) dropped 1 cent Monday to post a new 52-week low of $3.06 after closing at $3.07 on Friday. The stock’s 52-week high is $4.93. Volume of around 4.2 million about 5% above the daily average. The shipping firm priced a secondary offering of 30 million shares at $3.00 a share late last week.

  • [By William Romov]

    Pyxis is a Greece-based liquid fuel transporter operating a fleet of six double-hull tankers in the United States. There was no recent news from the company or analyst revisions that sparked the stocks surge. But some analysts suspect the recent $90 million share offering from Scorpio Tankers Inc. (NYSE: STNG) attracted unusually high speculation in the sector.

  • [By Paul Ausick]

    Scorpio Tankers Inc. (NYSE: STNG) dropped nearly 4% Tuesday to post a new 52-week low of $3.18 after closing at $3.31 on Monday. The stock’s 52-week high is $4.93. Volume of around 5.5 million was about 50% above the daily average. The company had no specific news.

  • [By Paul Ausick]

    Scorpio Tankers Inc. (NYSE: STNG) dropped 4.9% Wednesday to post a new 52-week low of $3.10 after closing at $3.26 on Tuesday. The stock’s 52-week high is $4.93. Volume of around 13 million was nearly four times the daily average. The company announced this morning that it had priced an underwritten offering of 30 million shares at $3.00 a share.

  • [By Paul Ausick]

    Scorpio Tankers Inc. (NYSE: STNG) dropped 4.6% Thursday to post a new 52-week low of $3.09 after closing at $3.24 on Wednesday. The stock’s 52-week high is $4.93. Volume of around 4 million was 10% above the daily average. The company announced yesterday that it had priced an underwritten offering of 30 million shares at $3.00 a share.

quot stock: Kate Spade & Company(KATE)

Advisors’ Opinion:

  • [By Lisa Levin]

    Kate Spade & Co (NASDAQ: KATE) was down, falling around 14 percent to $19.60 after it was reported the company would spend more time to negotiate the Coach Inc (NYSE: COH) offer.

  • [By Ben Levisohn]

    Coach (COH) rose to the top of the S&P 500 today after reports that Kate Spade (KATE) had put itself up for sale caused shares of fashion-accessory retailers to rise.

  • [By Ben Levisohn]

    Ever since peaking in late April, Kate Spade’s (KATE) shares have been in a downward spiral so pronounced that even an amateur technical analyst like myself could draw its trend line lower. Today, however, its shares are soaring after the Wall Street Journal reported that Kate Spade was actively seeking a buyer.

    Getty Images

    Mizuho’s Betty Chen and Alex Pham run the math on a possible acquisition price:

    When we examined historical transactions in the specialty retail sector, we noticed a wide range of valuations. Select relevant transactions to consider would be ~2x EV/Sales Coach (COH) paid for Stuart Weitzman, Samsonites acquisition of Tumi at 14x EV/EBITDA, 13x EV/EBITDA for Joseph A. Banks by Mens Wearhouse (TLRD) and Kerings acquisition of Volcom for 18x EV/EBITDA. We believe potential valuation could be as high as ~2x EV/ Sales and ~14x EV/EBITDA given Kate Spade’s unique growth profile to expand to ~$4bn in revenue (from $1.4bn in FY16) and improving profitability from 12% EBIT margin TY to at least HTeens-LDD, in our view (Coach is 18.7% and Michael Kors (KORS) is 21.3%). On these two metrics, Kate Spade would be valued at $21-23…

    We believe the growth profile coupled with the brands unique appeal to Millennials and broad-based success across categories ranging from handbags to apparel and jewelry could be attractive to many buyers, including Coach, which was rumored to be evaluating the company in recent weeks.

    The news has sent shares of Kate Spade soaring: They’re up 24% at $18.03 at 2:11 p.m., a gain that has turned this year’s 18% loss as of last night into a 2% gain during afternoon trading.

    The move has also put a dent in Kate Spade’s downtrend (and now you’ll see my amateur technical analysis abilities at work):


    That’s one way to break a downtrend.

quot stock: Anadarko Petroleum Corporation(APC)

Advisors’ Opinion:

  • [By Jayson Derrick]

    Honorable Mention: Buy-rated Anadarko Petroleum Corporation (NYSE: APC) with an $80 price target.

    Financials: JPMorgan

    JPMorgan Chase & Co. (NYSE: JPM) is a top pick in the financial sector as the analysts expect a net interest growth of 9.2 percent for the full year 2017 and 6.9 percent next year. Both of these estimates are among the highest within the research firm’s coverage universe.

  • [By Dan Caplinger]

    Sanchez Energy soared 29% after the energy company reported that it had entered into a strategic partnership with private equity giant Blackstone Energy Partners. The 50/50 venture was formed to purchase a working interest in about 318,000 acres in the lucrative Eagle Ford area of Texas from peer Anadarko Petroleum (NYSE:APC), with the partnership paying $2.3 billion for the assets. The Anadarko property is next to assets that Sanchez already works on in the Eagle Ford, and current production will provide immediate cash flow while extensive proved reserves and resource potential show plenty of future promise.

  • [By Brett Hershman]

    Anadarko Petroleum Corporation (NYSE: APC) said the company is sticking to its plan and will increase spending to stem regional declines, with its pace of growth acceleration still to be determined. The company also said it is still evaluating asset sales but is not currently looking to sell anything for the sake of selling.

quot stock: Credicorp Ltd.(BAP)

Advisors’ Opinion:

  • [By Zacks]

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quot stock: Brooks Automation Inc.(BRKS)

Advisors’ Opinion:

  • [By Lisa Levin]

    Technology sector was the top gainer in the US market on Monday. Top gainers in the sector included Aviat Networks Inc (NASDAQ: AVNW), Cohu, Inc. (NASDAQ: COHU), and Brooks Automation, Inc (NASDAQ: BRKS).

  • [By Lisa Levin]

    In trading on Friday, technology shares fell 3.59 percent. Meanwhile, top losers in the sector included Ultra Clean Holdings Inc (NASDAQ: UCTT), down 5 percent, and Brooks Automation, Inc (NASDAQ: BRKS), down 10 percent.

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