Top Heal Care Companies To Buy Right Now

Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, biotechnology company Progenics Pharmaceuticals (NASDAQ: PGNX  ) has received a distressing two-star ranking.

With that in mind, let's take a closer look at Progenics and see what CAPS investors are saying about the stock right now.

Progenics facts

Headquarters (founded)

Tarrytown, N.Y. (1986)

Market Cap

$224.3 million

Industry

Biotechnology

Trailing-12-Month Revenue

$14.1 million

Top Heal Care Companies To Buy Right Now: North American Oil & Gas Corp (NAMG)

Calendar Dragon Inc., incorporated on April 7, 2010, is a development-stage company. The Company was formed to create a new calendaring tool that incorporates a range of features not offered by other providers, all in one lean online package. Its Website www.calendardragon.com was formed to bridge the gap between current social networking, e-mail and calendaring / scheduling activities for the individual, with applications to business, government, law enforcement, and medical.

The calendardragon.com Website focuses on having each of the various windows within the interface: Contacts like an email app, traditional left location; Events & to do lists along with ability to hide / show events and to do lists with others; Calendar customizable view; Message text (thread), along with list of participants in a separate pane, and Options. During the fiscal year ended November 30, 2010, the Company did not generate any revenue.

Advisors' Opinion:

• [By Peter Graham]

  What�� the Catch With New Western Energy Corp? According to various disclosures, transactions of $3k and $4k have or will occur to mention New Western Energy Corp in various investment newsletters. Last Tuesday, New Western Energy Corp announced it had drilled the Anna #1 well to 1,793 ft. and the presence of coal gas was confirmed. If the quantity of gas is sufficient, the New Western Energy Corp will construct a gas gathering pipeline for no more than $200k to connect the field to the nearest sales point. Investors should be aware that the New Western Energy Corp has reported revenues of $19k (most recent reported quarter), $31k, $24k and $15k for the past four quarters along with net losses of $181k (most recent reported quarter), $1,025k, $106k and $110k.�Nevertheless and at the end of March, New Western Energy Corp had $793k in cash to cover $521k in current liabilities. That could be enough cash to sustain the company until it gets more revenue pumping in.

  North American Oil & Gas Corp (OTCBB: NAMG) Has Announced a Completed Strategic Review

  Small cap North American Oil & Gas Corp is focused on the prolific San Joaquin Basin in onshore California with existing foundation assets targeting exploration and exploitation of high impact oil and gas projects located near infrastructure and existing discoveries. On Friday, North American Oil & Gas Corp fell 1.05% to $0.940 for a market cap of $56.52 million plus NAMG is up 276% since November 2012 according to Google Finance.

Top Heal Care Companies To Buy Right Now: Easyjet(EZJ.L)

easyJet plc, together with its subsidiaries, operates as a passenger airline carrier primarily in Europe. It operates approximately 509 routes serving 125 airports in 29 countries. The company also involves in the trading and leasing of aircrafts. As of September 30, 2010, it operated a fleet of 196 aircrafts serving business and leisure customers. The company was founded in 1995 and headquartered in Luton, the United Kingdom.

Best Safest Companies For 2014: Franchise Services Of North Ame (FSN.V)

Franchise Services of North America Inc., through its subsidiaries, operates as a car rental franchisor in North America. It licenses franchises to operate car, van, and light truck rental business. The company also provides insurance products, including liability and physical damage coverage on rental fleet to franchisees and independent car rental operators. It operates under the U-Save Car & Truck Rental, U-Save Car Sales, Xpress Rent-A-Car, and Peakstone Financial Services brands. In addition, the company operates an association, Auto Rental Resource Center, which provides insurance discounts, and products and services to its members who operate independent vehicle rental businesses. Further, it owns and operates the Rent-A-Wreck and Practicar car rental and sales franchise system in Canada. Franchise Services of North America Inc. is based in Calgary, Canada.

Top Heal Care Companies To Buy Right Now: Dreamworks Animation SKG Inc. (DWA)

DreamWorks Animation SKG, Inc. engages in the development, production, and exploitation of animated feature films and characters worldwide. It provides animated feature films and characters for the theatrical, home entertainment, television, and merchandising and licensing markets. The company also offers television specials and series, live entertainment properties, online virtual worlds, and related consumer products. It has approximately 21 animated feature films, including Shrek the Third, Shrek 2, and Madagascar. The company has strategic alliances with McDonald?s, Hewlett-Packard, Intel, and Samsung. DreamWorks Animation SKG, Inc. was founded in 1985 and is headquartered in Glendale, California.

Advisors' Opinion:

• [By Geoff Gannon] ock, you will either be right or wrong because you are right or wrong about the company. Whether it trades at 0.8 times book value or 1.2 times book value does matter. But it�� not something you need to work out perfectly. You can miss an opportunity because the stock never quite gets below book value. And you can pay too much because you are willing to pay too high a premium for book value. We can�� know intrinsic value precisely. And we can�� value our every investment option against every other investment option with robotic regularity.

  So, if someone says simply, ��t less than its book value, I�� comfortable buying DreamWorks. At more than book value, I�� just not sure.��I wouldn�� fault them for that. Nobody believes the way the company accounts for its movies can precisely quantify book value in the way you can count cash in a till. So drawing an arbitrary line in the general vicinity of reasonableness is okay. It�� practical. And it keeps you focused on picking the right company. Not trying to elegantly balance price against risk for all stocks at once.

  If you believe most decent businesses are worth at least 12 times earnings, you don�� have to drive yourself crazy trying to figure out whether Company A which is superior to Company B is a better buy at 11 times earnings than Company B is at 7 times earnings. If you love Company A, buy it. You will do fine over time if you can buy your favorite businesses at 11 times earnings. This is not an approach that will backfire. And it is an approach you can apply year after year after year.

  Now, let�� look at net-nets. Are prices below net current asset value almost always less than the price a private buyer would pay for a company?

  Yes. Now, sometimes nobody would be willing to buy 100% of a company. But sellers will not usually be willing to sell a perfectly decent company for less than its net current assets.

  That leaves us with a pretty simple arbitrary rule. I

• [By Dan Caplinger]

  Netflix isn't without challenges, though. The biggest is coming up with content that viewers will pay to watch, and the content-deal tide has gone both ways for the company lately. A June deal with DreamWorks Animation (NASDAQ: DWA  ) will give Netflix access to 300 hours of new programming, boosting its relationship, which already includes a series for kids based on the DreamWorks movie release Turbo, earlier this week. Yet, Netflix missed out on renewing a deal with Viacom, as Amazon.com scooped up exclusive rights to popular kids' shows like Dora the Explorer.

Top Heal Care Companies To Buy Right Now: Eagle Plains Resources Ltd. (EPL.V)

Eagle Plains Resources Ltd., a junior resource company, engages in the acquisition, exploration, and development of mineral resource properties in western Canada. It primarily controls approximately 40 gold, silver, uranium, copper, molybdenum, lead, zinc, gypsum, and rare earth mineral projects in British Columbia, Yukon, the Northwest Territories, and Saskatchewan. The company was founded in 1994 and is headquartered in Cranbrook, Canada.

Top Heal Care Companies To Buy Right Now: Anfield Nickel Corp (ANF.V)

Anfield Nickel Corp. engages in the acquisition, exploration, and evaluation of mineral assets in Guatemala and Canada. It primarily holds 100% interest in the Mayaniquel project that consists of mineral exploration licenses covering an area of approximately 12,100 hectares located in the nickel laterite belt in the eastern part of Guatemala. The company was formerly known as Anfield Ventures Inc. and changed its name to Anfield Nickel Corp. in August 2009. Anfield Nickel Corp. was incorporated in 2005 and is headquartered in Vancouver, Canada.

Top Heal Care Companies To Buy Right Now: Mustang Minerals Corp. (MUM.V)

Mustang Minerals Corp., a mineral exploration company, engages in the exploration and development of base and precious metal mineral properties. The company primarily explores for nickel, copper, and platinum group metals. It focuses on exploration and development of the Makwa Nickel Project and the Mayville Ni-Cu-PGM Project located in southeastern Manitoba. The company�s projects also include the Bannockburn Nickel, the East Bull Lake PGM, and the River Valley PGM situated in Ontario. Mustang Minerals Corp. was incorporated in 1997 and is headquartered in Toronto, Canada.

Top Heal Care Companies To Buy Right Now: Sats Ltd. (S58.SI)

SATS Ltd., an investment holding company, provides gateway services and food solutions in Singapore and internationally. The company�s Gateway Services segment offers a range of airport terminal services, which include airfreight and ground handling services consisting of apron, passenger, and baggage handling services; aviation security services comprising passenger profile screening, fraudulent passenger and visa detection, aircraft protection security, and cargo screening; aircraft cleaning; technical ramp handling; and third-party logistic services. Its Food Solutions segment primarily provides in-flight and commercial catering, food processing and distribution, and airline laundry services. This segment produces and markets sauces, soups, and gravies; meat and seafood products under the Tenderfresh, Farmpride, I&J, and Perdix brand names; carbohydrates, such as pizza snacks, light snacks, and sandwiches; dairy products, including butter, milk, margarine, and cheeses; packaged fruits and vegetables; desserts, artisan chocolates, and sweets; and frozen food products. It also procures, packages, and distributes dried, chilled, and frozen food products to retail, ship chandelling, wholesale, and wet markets; offers events and institutional catering services, as well as pre-cooked, chilled, or ready-to-serve meals for people on the move; and provides in-flight catering services to airlines and low cost carriers. In addition, the company engages in the auction of pigs; provision of technical and management services for agri-food business; real estate management activities; and dispatch of workers to in-flight catering operators. It serves customers in aviation, hospitality, food, healthcare, freight, logistics, and government sectors. The company was formerly known as Singapore Airport Terminal Services Limited and changed its name to SATS Ltd. in August 2010. SATS Ltd. was founded in 1972 and is based in Singapore.

Fed Minutes Takeaways: On Track to End QE, but Stick to Low Rates

Federal Reserve officials had a wide-ranging discussion about the outlook for monetary policy at their Oct. 29-30 policy meeting. The bottom line was that they stuck to the view that they might begin winding down their $85 billion-per-month bond-buying program in the "coming months" but are looking for ways to reinforce their plans to keep short-term interest rates low for a long-time after the program ends.

Associated Press The Federal Reserve building in Washington.

They struggled to build a consensus on how they would respond to a variety of different scenarios. One example: What to do if the economy didn't improve as expected and the costs of continuing bond-buying outweighed the benefits? Another example: How to convince the public that even after bond buying ends, short-term interest rates will remain low.

Here is a first look at key passages (in italics) and what they suggest about Fed policy:

ECONOMIC OUTLOOK: It looked a little softer in the near-term, but officials weren't veering from their view on how the recovery would play out:

Although the incoming data suggested that growth in the second half of 2013 might prove somewhat weaker than many of them had previously anticipated, participants broadly continued to project the pace of economic activity to pick up. The acceleration over the medium term was expected to be bolstered by the gradual abatement of headwinds that have been slowing the pace of economic recovery—such as household-sector deleveraging, tight credit conditions for some households and businesses, and fiscal restraint—as well as improved prospects for global growth. While downside risks to the outlook for the economy and the labor market were generally viewed as having diminished, on balance, since last fall, several significant risks remained, including the uncertain effects of ongoing fiscal drag and of the continuing fiscal debate.

OUTLOOK FOR BOND BUYING: Given their expectations for the economy, they still expect to end the program in the months ahead:

Participants reviewed issues specific to the Committee's asset purchase program. They generally expected that the data would prove consistent with the Committee's outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months.

WHAT IF THE BOND-BUYING PROGRAM STOPS WORKING BEFORE THE LABOR MARKET IMPROVES: The Fed might end bond buying and find another way to stimulate the economy.

Some participants noted that, if the Committee were going to contemplate cutting purchases in the future based on criteria other than improvement in the labor market outlook, such as concerns about the efficacy or costs of further asset purchases, it would need to communicate effectively about those other criteria. In those circumstances, it might well be appropriate to offset the effects of reduced purchases by undertaking alternative actions to provide accommodation at the same time

KEEP IT SIMPLE, STUPID: Fed officials are trying harder to keep a consistent message after the confusion in markets earlier this year.

Participants broadly endorsed making the Committee's communications as simple, clear, and consistent as possible, and discussed ways of doing so. With regard to the asset purchase program, one suggestion was to repeat a set of principles in public communications; for example, participants could emphasize that the program was data dependent, that any reduction in the pace of purchases would depend on both the cumulative progress in labor markets since the start of the program as well as the outlook for future gains, and that a continuing assessment of the efficacy and costs of asset purchases might lead the Committee to decide at some point to change the mix of its policy tools while maintaining a high degree of accommodation

MODEST SUPPORT FOR THRESHOLD CHANGE: The Fed has been saying it will keep short-term rates low until after the jobless rate falls below 6.5%. Some economists think the Fed should lower that threshold to provide more support to the job market. There wasn't a great deal of support for such a move.

A couple of participants favored simply reducing the 6½ percent unemployment rate threshold, but others noted that such a change might raise concerns about the durability of the Committee's commitment to the thresholds.

INFLATION BOUNDS: The Fed is also considering offering a lower bound on inflation. That got some support, though not rousing.

In general, the benefits of adding this kind of quantitative floor for inflation were viewed as uncertain and likely to be rather modest, and communicating it could present challenges, but a few participants remained favorably inclined toward it.

LOW RATES FOR LONG: Fed officials appear to be gravitating toward an "inertial" policy approach. In other words, toward assuring the public that the Fed won't be in a hurry to raise short-term rates even after its 6.5% threshold is crossed.

Several participants concluded that providing additional qualitative information on the Committee's intentions regarding the federal funds rate after the unemployment threshold was reached could be more helpful. Such guidance could indicate the range of information that the Committee would consider in evaluating when it would be appropriate to raise the federal funds rate. Alternatively, the policy statement could indicate that even after the first increase in the federal funds rate target, the Committee anticipated keeping the rate below its longer-run equilibrium value for some time, as economic headwinds were likely to diminish only slowly. Other factors besides those headwinds were also mentioned as possibly providing a rationale for maintaining a low trajectory for the federal funds rate, including following through on a commitment to support the economy by maintaining more-accommodative policy for longer. These or other modifications to the forward guidance for the federal funds rate could be implemented in the future, either to improve clarity or to add to policy accommodation, perhaps in conjunction with a reduction in the pace of asset purchases as part of a rebalancing of the Committee's tools

DON'T FORGET IOER: The Fed pays 0.25% to banks that keep reserves on deposit with the central bank. Some economists think it should reduce that rate to encourage lending. The idea hasn't had much traction in the past, but it is back in play.

Most participants thought that a reduction by the Board of Governors in the interest rate paid on excess reserves could be worth considering at some stage, although the benefits of such a step were generally seen as likely to be small except possibly as a signal of policy intentions.

Parts suppliers fined, imprisoned for price-fixing

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Foreign auto-parts suppliers have been overcharging for years, and the U.S. government said Thursday that the many have begun to plead guilty and be hit with big fines and prison terms.

The latest, announced Thursday by Attorney General Eric Holder: Nine Japan-based companies and two executives have agreed to plead guilty. The companies will pay more than $740 million in criminal fines. The executives will go to prison.

The components are those supplied to new-car factories, so the auto-parts crooks cheated car companies as well as car buyers.

The government did not set a figure on how many billions of dollars were unlawfully filched from U.S. buyers and automakers by the extensive scam.

What Holden announced was the latest and largest action in a multi-year, international investigation involving unfairly priced new-vehicles components bought by Chrysler Group, Ford Motor, General Motors, Toyota and others.

The European Union and Japan also are investigating, Earlier this week, Europeanofficials raided offices of six parts suppliers three.

In the U.S. about 20 suppliers have settled and agree to pay fines, and 21 executives have been charged.

The Justice Department listed these as involved: Hitachi Automotive Systems, Mitsubishi Electric, Mitsubishi Heavy Industries, Mitsuba, Jtek, NSK, T.RAD, Valeo Japan, Yamashita Rubber.

Individuals involved are two former executives of U.S. subsidiaries of Japan-based automobile products suppliers – Tetsuya Kunida, a Japanese citizen, and Gary Walker, a U.S. citizen. Both have agreed to serve time in a U.S. prison.

They were involved in separate conspiracies, Holden said, to fix prices of more than 30 different products sold to U.S. car manufacturers and used in vehicles sold here and elsewhere.

Overall, the main culprits so far are Japan-based auto parts suppliers.

Holden said the international price-fixing conspiracies affected more than $5 billion in automobile parts sold to U.S. car manufacturers, and more than 25 million vehicles bought by Americans.

He called it "the largest criminal investigation the Antitrust Division has ever pursued, both in terms of its scope and the commerce affected by the alleged illegal conduct. Never before has the Department of Justice simultaneously announced the breakup of so many separate antitrust conspiracies. And today's charges were filed in three different U.S. District Courts – in Detroit; in Cincinnati; and in Toledo, Ohio."

Parts involved in the price-fixing include safety belts, radiators, windshield wipers, air conditioning systems, power window motors, power steering parts and other products.

Holden described the workings of the conspiracy in spy-like terms:

"Company executives met face to face in the United States and Japan – and talked on the phone – to reach collusive agreements to rig bids, fix prices and allocate the supply of auto parts sold to U.S. car companies. In order to keep their illegal conduct secret, they used code names and met in remote locations. Then they followed up with each other regularly to make sure the collusive agreements were being adhered to."

In addition to the U.S. Justice Department and FBI, foreign agencies involved include he Japan Fair Trade Commission, the European Commission, the Canadian Competition Bureau, the Korean Fair Trade Commission, the Mexican Federal Economic Competition Commission and the Australian Competition and Consumer Commission.

Five Stocks Trading Below Cash That Hedge Funds Love

At BillionairesPortfolio.com, I am always looking for deep value stocks that are owned by some of the world's top hedge funds and billionaire investors.

Nothing represents a great value play more than a stock that is trading below the cash it holds on its books.

A stock that is trading "below cash" means the company has more cash on its balance sheet than its entire market capitalization. As billionaire hedge fund David Tepper put it "buying cash for less than cash" is one of the easiest ways to make money in the stock market.

Here are five stocks that top hedge funds own that are also trading below cash:

1)      STR Holdings, Inc. has $1.74 per share in cash and has zero debt.  The stocks sells for only $1.72.  Top hedge fund Red Mountain Capital Partners owns nearly 15% of this stock.

2)      Career Education Corporation has $3.44 in cash per share and zero debt.  The stocks sells for $2.66.  Blum Capital Partners, a top hedge fund/private equity firm, owns almost 14% of this stock.

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3)      AVEO Pharmaceuticals AVEO Pharmaceuticals, Inc. has $3.04 per share in cash and has zero debt.  The stock sells for only $2.09.  Billionaire and legendary hedge fund manager, Seth Klarman of the Baupost Group owns more than 7% of this stock.

4)      The First Marblehead First Marblehead Corporation has $1.23 per share in cash and has zero debt.  The stock sells for just $0.85. Value-based hedge fund Mangrove Partners owns almost of 10% of this stock.

5)      Savient Pharmaceuticals, Inc. has $0.71 per share in cash and has zero debt.  The stock sells for only $0.62 cents. Top biotech hedge fund Palo Alto Investors owns more than 13% of this stock.

Disclosure:  Clients of Billionaire's Portfolio, own shares of STR Holdings.  Bryan Rich is co-founder of BillionairesPortfolio.com and CEO of Logic Fund Management, Inc.

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Senators Take ‘Blank Slate’ Approach to Tax Reform

After working on bipartisan tax reform for the past three years, the Senate Finance Committee's leaders have said they want to start with a blank slate.

Chairman Max Baucus and the committee’s ranking member, Sen. Orrin Hatch, sent a letter to their fellow lawmakers Thursday asking for their input by July 26 on how to reform the tax code, as they’re “now entering the home stretch.”

Baucus, D-Mont., and Hatch, R-Utah, told their colleagues “now it is your turn” to give your ideas and “partnership to get tax reform over the finish line.” Both said they want to complete reforming the tax code in this Congress.

To ensure “that we end up with a simpler, more efficient and fairer tax code, we believe it is important to start with a ‘blank slate’—that is, a tax code without all of the special provisions in the form of exclusions, deductions and credits and other preferences that some refer to as ‘tax expenditures,’” the two write. “This blank slate is not, of course, the end product, nor the end of the discussion.”

The senators went on to say that “some of the special provisions serve important objectives.” Indeed, they said, “some existing tax expenditures should be preserved in some form. But the tax code is also littered with preferences for special interests.”

To clear out all the unproductive provisions and simplify in tax reform, Baucus and Hatch said they “plan to operate from an assumption that all special provisions are out unless there is clear evidence that they: help grow the economy, make the tax code fairer, or effectively promote other important policy objectives.”

Hatch and Baucus asked that lawmakers submit legislative language or detailed proposals for what tax expenditures meet the above mentioned tests and should be included in a reformed tax code, “as well as other provisions that should be added, repealed or reformed as part of tax reform” by July 26. “We will give special attention to proposals that are bipartisan,” they said.

The two senators explained in their letter that the "blank slate approach would allow significant deficit reduction or rate reduction, while maintaining the current level of progressivity." The amount of rate reduction “would of course depend on how much revenue was reserved for deficit reduction, if any, and from which income groups,” they said.

The specter of a tax code stripped of "special provisions" is stoking worries in much of the financial sector. Cities and other localities have been nervous for some time about the effects of a possible end to the muni bond tax exemption.

Brian Graff, CEO of the American Society of Pension Professionals and Actuaries, says the senators’ blank-slate approach means that to begin the tax reform process, “the tax deferral incentive for retirement savings is to be thrown out along with every other tax incentive in the Internal Revenue Code that represents permanent lost revenue.”

But Graff said that while ASPPA “appreciates the senators’ acknowledgement that some tax incentives should be preserved — and we believe the incentive for retirement savings is clearly one of them … we are disappointed that there is no recognition that the tax incentive for retirement savings is a deferral, not a true ‘tax expenditure,’” he said in a statement.

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Tens of millions of workers, Graff continued, “count on their employer-based retirement plans, and it is the tax incentive that powers these programs. In fact, the primary factor in determining whether or not a worker is saving for retirement is whether or not they have a retirement plan at work.”

The benefits of this deferral incentive “are very real,” Graff said, “and the revenue that would be gained by eliminating it is not. Every dollar of retirement savings excluded from income today will be included as income when it is paid out in retirement. Treating the retirement savings income deferral like a permanent exclusion is terribly misleading, and could lead to bad policy decisions.”

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Check out Repeal of Muni Tax-Exempt Status Would Devastate Counties: Report on AdvisorOne.

Is Cliffs Natural Resources Undervalued?

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With shares of Cliffs Natural Resources (NYSE:CLF) trading around $21, is CLF an OUTPERFORM, WAIT AND SEE or STAY AWAY? Let's analyze the stock with the relevant sections of our CHEAT SHEET investing framework:

T = Trends for a Stock’s Movement

Cliffs Natural Resources is a mining and natural resources company that engages in the production of iron ore pellets, fines and lump ore, and metallurgical coal. It operates several iron ore mines, five metallurgical coal mines, and a couple of thermal coal mines across various countries around the world. Basic materials have not seen significant strength this year, although economies around the world are growing at explosive rates. Infrastructure development and constructions worldwide should fuel a surge in basic materials and in turn, a rise in Cliffs Natural Resources stock. As countries continue to grow and improve, look for companies like Cliffs Natural Resources to see rising demand.

T = Technicals on the Stock Chart are Weak

Cliffs Natural Resources stock has seen a significant decline over the last several years and is now trading at prices not seen since early 2009. A recent positive earnings reaction has propelled the stock higher so rising stock prices may be ahead. Analyzing the price trend and its strength can be done using key simple moving averages. What are the key moving averages? The 50-day (pink), 100-day (blue), and 200-day (yellow) simple moving averages. As seen in the daily price chart below, Cliffs Natural Resources is trading below its declining key averages which signal neutral to bearish price action in the near-term.

(Source: Thinkorswim)

Taking a look at the implied volatility (red) and implied volatility skew levels of Cliffs Natural Resources options may help determine if investors are bullish, neutral, or bearish.

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	Implied Volatility (IV)	30-Day IV Percentile	90-Day IV Percentile
Cliffs Natural Resources Options	59.03%	6%	5%

What does this mean? This means that investors or traders are buying a very minimal amount of call and put options contracts, as compared to the last 30 and 90 trading days.

	Put IV Skew	Call IV Skew
June Options	Steep	Average
July Options	Steep	Average

As of today, there is an average demand from call buyers or sellers and high demand by put buyers or low demand by put sellers, all neutral to bearish over the next two months. To summarize, investors are buying a very minimal amount of call and put option contracts and are leaning neutral to bearish over the next two months.

On the next page, let’s take a look at the earnings and revenue growth rates and the conclusion.

E = Earnings Are Decreasing Quarter-Over-Quarter

Rising stock prices are often strongly correlated with rising earnings and revenue growth rates. Also, the last four quarterly earnings announcement reactions help gauge investor sentiment on Cliffs Natural Resources’s stock. What do the last four quarterly earnings and revenue growth (Y-O-Y) figures for Cliffs Natural Resources look like and more importantly, how did the markets like these numbers?

	2013 Q1	2012 Q4	2012 Q3	2012 Q2
Earnings Growth (Y-O-Y)	-74.90%	-976.54%	-85.78%	-38.01%
Revenue Growth (Y-O-Y)	-5.93%	-4.23%	-26.05%	-9.96%
Earnings Reaction	14.98%	-19.99%	-10.51%	-6.26%

Cliffs Natural Resources has seen decreasing earnings and revenue figures over the last four quarters. From these figures, the markets have been mostly dissatisfied with Cliffs Natural Resources’s recent earnings announcements.

P = Poor Relative Performance Versus Peers and Sector

How has Cliffs Natural Resources stock done relative to its peers, Alpha Natural Resources (NYSE:ANR), Consol Energy (NYSE:CNX), Peabody Energy (NYSE:BTU), and sector?

	Cliffs Natural Resources	Alpha Natural Resources	Consol Energy	Peabody Energy	Sector
Year-to-Date Return	-44.72%	-33.26%	8.61%	-23.07%	-8.56%

Cliffs Natural Resources has trailed in performance year-to-date.

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Conclusion

Cliffs Natural Resources provides essential materials to companies participating in a multitude of industries worldwide. The stock has been on a steady decline over the last several years but a recent positive earnings report may possibly fuel a move higher. Earnings and revenue figures have decreased over most of the last four quarters which has not made investors too happy. Relative to its peers and sector, Cliffs Natural Resources has been a year-to-date underperformer. WAIT AND SEE what Cliffs Natural Resources does this coming quarter.

2 Plunging Stocks Couldn't Stop the Dow's Record Climb

Earnings season has gone just about exactly the way bullish investors would have expected so far. Many companies managed to overcome lowered expectations for earnings growth and posted positive surprises that, in turn, lifted their share prices. As a result, the stock market climbed to more all-time record highs, with the Dow Jones Industrials (DJINDICES: ^DJI  ) rising 78 points, and the S&P 500 (SNPINDEX: ^GSPC  ) matching the Dow's half-percent gain.

But two prominent Dow stocks didn't deliver on the earnings front to investors' satisfaction. Intel (NASDAQ: INTC  ) was the leading loser in the Dow, falling 3.75% after only matching earnings estimates, and falling short on top-line revenue figures. The company forecast lower sales for the current quarter, giving further evidence of the major challenges Intel faces with its PC business, as falling demand for desktops and laptops in favor of mobile devices like smartphones and tablets pose a continuing threat to the company's growth. Even if it's successful in entering the mobile market, Intel will face immense competition there that will likely keep margins relatively low compared to its legacy PC chips, where it had a commanding market share and, consequently, greater pricing power.

The other substantial loser in the Dow was American Express (NYSE: AXP  ) , which fell 3.6%. AmEx suffered a one-two punch today, as it missed revenue estimates despite posting a record profit for its second quarter last night. The greater concern among some investors came from the European Commission, though, which is looking to follow in the wake of U.S. regulators by imposing caps on credit card and debit card transaction-based "swipe fees." AmEx argued that any move wouldn't affect much of its business, but analysts remain worried that any regulations that encourage movement toward lower-cost payment options could hurt AmEx's international business.

Finally, outside the Dow, eBay (NASDAQ: EBAY  ) dropped almost 7% after its own quarterly report, despite seeing continued growth in both its PayPal electronic payments business and its namesake auction and marketplace site. The company guided analysts toward the lower part of previously announced ranges for earnings and sales, though, as problems in key markets like Europe and Korea could hurt the company's overall results for the remainder of the year. Given the wrangling between PayPal, card companies like AmEx, and tech companies to try to come up with payment solutions for mobile platforms, you can expect plenty of jockeying for position among these companies well into the future.

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Apple's Plan to Disrupt Cable Is Also Netflix's Nightmare

For Apple (NASDAQ: AAPL  ) , cable companies are more "frenemy" than enemy. New deals bring HBO GO and WatchESPN to all Apple TV users who have cable plans that include access to those channels.

Viewers also gain access to SkyNews for coverage of breaking news in the U.K. and Ireland, Crunchyroll for Japanese Anime, and Qello for on-demand streaming for concerts and music documentaries.

Promotional video for HBO GO on Apple TV. Sources: HBO, YouTube.

"HBO GO and WatchESPN are some of the most popular iOS apps and are sure to be huge hits on Apple TV," said Eddy Cue, Apple's senior vice president of Internet software and services, in a press release.  

Viewers benefit by getting access to a better interface for live sports programming and HBO's full library of content, while cable companies preserve their connections to subscribers. Everyone wins, right? For now, yes. Just don't mistake Apple for anything other than a disruptor.

Apple says customers are downloading 800,000 TV episodes and 350,000 movies per day from an iTunes Store library that includes 60,000 movies and 230,000 TV episodes. All told, more than 1 billion TV episodes and 380 million movies have been downloaded so far.

Mix in iCloud syncing and precisely the sort of HBO integration I suggested in April, and you've the makings of a compelling "TV Everywhere" platform that could make both Apple TV and the iPad hot commodities among cord cutters.

Meanwhile, the lines between Netflix (NASDAQ: NFLX  ) and HBO, its primary rival, are blurring. Adding HBO GO to Apple TV suggests parent Time Warner is interested in expanding the service beyond a handful of other devices. Doing so would blunt Netflix's distribution advantage.

Could Netflix win a battle waged just over great content? Founder Reed Hastings expressed some concerns in a recently posted manifesto covering the company's long-term strategy:

While we are passing HBO in domestic members in 2013, it will be several years before we are peers with them in terms of Original programming, Emmy awards, and international members. It wouldn't be surprising to us if HBO does their best work and achieves their highest growth over the next decade, spurred on by the Netflix competition and the Internet TV opportunity.

Translation: It's early. But not so early that Netflix can sit idle as Apple revs its iTunes engine. Investors need to see Hastings and team not only funding originals but also exploring cheaper expansion options, such as rescuing cult hits that may have been canceled too early.

Do you agree? Are you more likely to buy an Apple TV as a result of HBO GO? Let us know what you think of Apple, HBO, and Netflix in the comments box below.

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3 Reasons Today's Stock Market Scares Me

U.S. stock markets are up big in 2013. The Dow Jones Industrial Average (DJINDICES: ^DJI  ) has returned 26.9% to investors this year and the broader S&P 500 index has returned a whopping 30.2%.

^DJITR data by YCharts.

But what's driven stocks higher this year? As fellow Fool Dan Dzombak recently pointed out, it's actually rising P/E ratios, not growing earnings, that have driven stocks higher. That's problematic for investors who want to buy today, especially if you're looking at high P/E stocks. Companies will have to perform flawlessly just to live up to expectations, which is one reason today's market scares me.

Profits don't matter
Some of the market's best stocks this year have gone up primarily because of speculation from investors, not rising profits. Look at the gains for Tesla Motors (NASDAQ: TSLA  ) , Amazon, Netflix, and 3D Systems this year.

TSLA Total Return Price data by YCharts.

Now consider that Tesla and Amazon have lost money over the past year while Netflix and 3D Systems are barely making a profit. These stocks are trading at price/sales multiples of 10.1, 2.6, 5.4, and 18.6, respectively.

These stocks are up because expectations jumped in 2013, which poses problems if results don't eventually live up to those lofty expectations.

Good isn't good enough
One major worry I have going into 2014 is that investors and traders no longer just expect companies to meet expectations, they expect companies to crush them.

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Take Nike (NYSE: NKE  ) as the example this week. The company increased 8% revenues in the fiscal second quarter and beat expectations by a penny, but the stock dropped 1.2% after earnings.

That's not a big drop but when you combine just a small beat with a stock that has lofty expectations, the results can be dramatic. Tesla's stock is down 26% from its 52-week high with most of the drop coming after only beating earnings estimates by a penny.

This will play out over and over next year because stocks have gone so high that even meeting or beating Wall Street's expectations won't be enough. Investors are expecting blowouts.

Interest rates are only going up
I'm not a big believer that the Fed's easy money has been the biggest driver of the stock market over the past few years, but I do believe that rising interest rates are problematic for the market. It's not because companies don't have enough cash to expand without easy money; it's the demand side that I'm concerned about.

The housing market has been boosted by low interest rates and it will suffer as rates rise. Look at the graph below to see how fast housing slowed down when rates rose, a trend we've seen continue in recent weeks.

US 30-Year Mortgage Rate data by YCharts.

The same factors impacting the housing market apply to the auto industry. Cheap loans and leases have been an incentive for people to upgrade vehicles this year and if rates rise in 2014, the pace of sales will slow.

Corporate America has gotten used to easy money, but the bigger concern I have going into 2014 is how much consumers have gotten used to paying almost no interest on big-ticket items. Sticker shock could ensue.

Foolish bottom line
I don't know if stocks will go up or down in 2014, but these are factors that I worry about when looking at buying stocks right now. There are a lot of downside risks, especially after the market's long rise. Keep that in mind when you're investing money next year.

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Rite Aid Corporation (NYSE:RAD) Q3 Earnings Preview: December Runs Green

This one is for JG - Rite Aid Corporation (NYSE:RAD) will release financial results for its Fiscal 2014 Third Quarter, which ended Nov. 30, 2013, on Thursday, Dec. 19, 2013. The company will hold an analyst call at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) with remarks by Rite Aid's management team.

Wall Street anticipates that the drug store maker will earn $0.04 per share for the quarter. iStock expects RAD to beat Wall Street's consensus number. The iEstimate is $0.08 - ooh, that's big.

Rite Aid operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other everyday and convenience products.

[Related -Walgreen Company (NYSE:WAG) Q1 Earnings Preview: What To Watch?]

A hundred percent surprise seems like a lot because it is, but Rite Aid has a history of smoking Wall Street's consensus estimate in a big way. Ten of the last 16 quarters RAD topped analysts' view by an average of 98.18% with a range of 30.77% to 300% - ooh, those are big numbers.

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Meanwhile, the four bearish surprises were large percentages, too, but not to the same degree as the bullish variety. The quartet of misses averaged -23.70%, ranging from -12.5% to -41.67%.

The drug store's stock price has been volatile, as you might expect, during the three-days surrounding the last 16 quarterly checkups. Unlike the favorable tilt to bullish EPS surprises, RAD's earning's driven price-performance splits down the middle with eight gains and eight losses. However, price-sensitivity favors bulls as the average gain of 16.64% more than doubles the average loss of -7.38%.

[Related -Rite Aid: Turnaround Prescription?]

As! you can see, being on the right side of the trade is extremely profitable. You could flip a coin or dig a little deeper into quarterly performance, which is what iStock did. The last four December announcements heavily favored taking the bull side of RAD's earnings.

The three-days booking ending the December profit scorecard release managed returns of -1.60% (not too painful), 1.1%, 19.40% and 24.8%. Last year produced the big winner!

We also see that almost all of the major plus moves were accompanied by quarter-over-quarter (QoQ) earnings growth. Last quarter, RAD earned $0.07. That iEstimate better be right. Let's dig into Rite Aid's same-store-sales announcements to see if more than $0.07 is possible.

The consensus sales estimate stands at $6.32 billion for Thursday's announcement. We have little doubt that Rite Aid will do slightly better as company press releases add up to $6.33 billion for the quarter.

EPS would come in right on Wall Street's target of $0.04 if net margins remained the same QoQ, not including tax benefits/losses. If management can continue to reduce costs and expenses as they did in Q2, it would add a penny.

Overall: Rite Aid Corporation's (NYSE:RAD) December history of four consecutive bullish surprises, the iEstimate and to a lesser degree, our revenue/EPS work suggest another better than expected result on Thursday morning. 

After Market: Stocks Circle in a Holding Pattern, Airlines Glide Lower

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Investors took a wait-and-see attitude Tuesday, but airline stocks lost altitude. The market is in a holding pattern until 2 p.m. Wednesday, when the Fed reveals details of this week's FOMC policy meetings, and whether it's ready to begin cutting back on its main economic stimulus program. If it does begin to taper, the next debate will begin immediately: Is that good or bad for investors? On Wall Street today, the Dow Jones industrial average (^DJI) edged down 9 points, the Nasdaq composite (^IXIC) fell nearly 6, and the Standard & Poor's 500 index (^GPSC) lost 5 points. The Dow's gainers were led by a pair of companies hiking their dividends. 3M (MMM), which makes everything from Post-It notes to medical equipment, rose 3 percent after increasing its payout by 35 percent. And Boeing (BA) rose 1 percent. It boosted the dividend by 50 percent and announced a big stock buyback. The other big blue chip winner was Visa (V), which gained another 2.5 percent. Its stock is now up 43 percent from a year ago. On the downside, Verizon (VZ), IBM (IBM), McDonald's (MCD) and Microsoft (MSFT) all lost about one percent. Microsoft says it will not name a new CEO until next year. And airline stocks were broadly lower. United (UAL) and Delta (DAL) both fell 3 percent. American Airlines (AAL), which completed its merger with U.S. Airways last week, fell 2 percent. And Southwest (V) also lost 2 percent. Brokerage recommendations gave a boost to several issues. Data storage companies Seagate (STX), up 3 percent, and Western Digital (WDC), up 2.5 percent, following JP Morgan upgrades. And iRobot (IRBT) surged 17 percent after Raymond James gave it a 'strong buy.' Shares of Facebook (FB) rose 2 percent, hitting an all-time high. The social media giant is rolling out new video ads this week. That's expected to boost revenue. The question is, will it alienate users? On the downside, Targacept (TRGT) lost more than a third of its value. A clinical trial of its schizophrenia drug did not meet expectations, and the company is dropping development. And chicken producer Sanderson Farms (SFAM) lost 3.5 percent as earnings fell far short of expectations. What to Watch Wednesday: The Commerce Department releases housing starts for November at 8:30 a.m. Eastern time. Federal Reserve policymakers release a statement on interest rates at 2 p.m. The Senate Finance subcommittee holds a hearing on retirement security. These major companies are due to report quarterly financial results: FedEx (FDX) General Mills (GIS) Lennar (LEN) Neiman Marcus Paychex (PAYX) Oracle (ORCL) -

5 Things to Watch on Wall Street This Week

Bloomberg via Getty ImagesSteelcase, a leading maker of office furniture, reports this week; its earnings are a bellwether of how corporate America is faring. You can never know in advance all the news that will move the market in a given week, but some things you can see coming. From a pair of leading office furniture companies reporting on the same day to a popular used-car seller showing off its showroom, here are some of the things that will help shape the week that lies ahead on Wall Street. Monday -- New Energy for the New Week: The new trading week kicks off with FuelCell Energy (FCEL) reporting. The builder of fuel cell power plants reports its latest quarterly results after the market closes on Monday. It's been 10 years since FuelCell completed its first commercial fuel cell plant installation. Business is starting to pick up, as it has as many orders over the past two years combined as it did during the eight previous years combined. Revenue should continue to grow as FuelCell grows closer to profitability. Tuesday -- Lone Wolf: Disney's (DIS) "The Lone Ranger" was a flop earlier this year. It failed to break $90 million in domestic box office receipts, and the $260 million it amassed in gross ticket sales worldwide wasn't enough to offset its massive production budget and cinematic distribution. Disney had fared well with Johnny Depp and director Gore Verbinski before. The two teamed up for the blockbuster success of Disney's "The Pirates of the Caribbean" movie series. It convinced a jaded audience to return to the local multiplex for a movie about swashbucklers. But it couldn't revive the Western genre this time around. Despite being a box office bomb, "The Lone Ranger" will get a chance at new life in the home market. It comes out on Blu-ray and DVD on Tuesday. Wednesday -- Office Space: When it comes to stocks, it's safe to say that Steelcase (SCS) and Herman Miller (MLHR) aren't exactly the busy bees of the exchanges. On a typical day you will see roughly 250,000 to 400,000 shares traded. However, when both companies step up to report quarterly results on Tuesday, you can bet that a lot more than just their investors will be tuning in. As leading makers of office furniture -- Herman Miller is actually credited with inventing the cubicle, for better or worse -- checking out how the two companies are doing is a smart way for investors to take the pulse of corporate America. Spoiler alert: Wall Street sees both companies posting improving sales and earnings on Tuesday. Thursday -- Olive Garden and Red Lobster Have a Lot to Prove: Darden Restaurants (DRI) has been struggling as the hungry avoid its flagship casual-dining concepts. Olive Garden and Red Lobster experienced a dip in comparable-restaurant sales in Darden's most recent quarter, and now it's up again. Darden reports on Wednesday. Darden's tried to offset the sting with its meaty dividend and expanding its smaller concepts, but until it fixes the fading popularity of Olive Garden and Red Lobster, it's going to be hard for investors to get excited about the restaurateur. Friday -- I Want to Sell You a Used Car: Being called a used-car salesman used to be an insult along the lines of selling snake oil, but CarMax (KMX) has cleaned things up. CarMax has been growing its huge showrooms selling spruced-up secondhand cars in a clean and haggle-free environment. CarMax will also buy your car, even if you're not there to buy another one. CarMax reports on Friday, and investors aren't likely to suffer sticker shock. Analysts see healthy double-digit percentage growth on both ends of the income statement for the quarter. Both new and used car sales in this country have been strong lately, and that's good news for investors revving up in CarMax stock.

What to Expect from Harmonic

Harmonic (Nasdaq: HLIT  ) is expected to report Q1 earnings on April 23. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Harmonic's revenues will decrease -10.8% and EPS will decrease -66.7%.

The average estimate for revenue is $113.9 million. On the bottom line, the average EPS estimate is $0.01.

Revenue details
Last quarter, Harmonic booked revenue of $133.4 million. GAAP reported sales were 7.1% lower than the prior-year quarter's $143.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.09. GAAP EPS of $0.04 were the same as the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 49.0%, 240 basis points better than the prior-year quarter. Operating margin was 2.1%, 250 basis points worse than the prior-year quarter. Net margin was 3.6%, 60 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $507.4 million. The average EPS estimate is $0.29.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 293 members out of 312 rating the stock outperform, and 19 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 55 give Harmonic a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Harmonic is hold, with an average price target of $5.19.

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Is the iPhone 5 About to Disappear?

Since the introduction of the iPhone in 2007, Apple (NASDAQ: AAPL  ) has reliably updated the device once a year. For the past several iterations, beginning with the release of the iPhone 3GS in 2009, Apple has dropped the price of the previous model by $100 to provide a lower-cost option for price-sensitive customers. Thus, the typical price structure for the current iPhone options in the U.S. -- assuming a two-year contract and a carrier subsidy -- is the following:

Standard U.S. iPhone Pricing

Model

Price

iPhone 5	$199
iPhone 4S	$99
iPhone 4	Free

Last week, The Wall Street Journal reported that the next-generation iPhone, thought to be called the "iPhone 5S," will enter production this quarter. Analysts believe that time frame puts Apple on track to release the iPhone 5S in June or July. But I don't think Apple will follow its previous custom by dropping the iPhone 5 subsidized price to $99 this summer.

The iPhone 5. Source: Apple.

Instead, the company may choose to discontinue the iPhone 5 when its replacement arrives. That would line up with the strategy Apple followed for the most recent iPad update: The fourth-generation iPad replaced the third-generation iPad as the high-end model, with the iPad 2 remaining in production as a cheaper alternative.

New iPhone coming
The main rationale for a new high-end iPhone is to keep the pressure up on Apple's competitors. BlackBerry (NASDAQ: BBRY  ) finally released its new Z10 all-touch smartphone in the U.S. last month, and CEO Thorsten Heins has publicly called the iPhone "outdated." Meanwhile, major Google (NASDAQ: GOOG  ) Android vendors such as Samsung and HTC are releasing new flagship phones this spring. Last year, Samsung used the gap between its spring release of the Galaxy SIII and the iPhone 5's fall debut to pick up significant market share.

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Apple needs to update the iPhone sooner rather than later to keep its products in the spotlight and bolster its position vis-a-vis Android phone vendors. However, it needs to do so without putting further pressure on its profitability, which has become a concern recently.

Gross margin is the key
The introduction of the iPhone 5 dented Apple's gross margin, which dropped 610 basis points year over year, from 44.7% to 38.6%, in the fall quarter. Some of these increased costs relative to the 4S were temporary, as the iPhone 5 required a new manufacturing process, new equipment, and other upfront costs. However, while those initial cost headwinds may be subsiding, the iPhone 5 still includes more expensive components than the iPhone 4S -- better screen, LTE modem, and the like.

In the fall quarter, Apple was able to make up for the lower-margin profile of the iPhone 5 and other products by boosting revenue. In contrast, the company is expected to post a significant year-over-year decline in profit this quarter. To restart earnings growth, Apple needs to halt or (preferably) reverse its gross-margin decline.

Most Apple followers don't expect the iPhone 5S to boast any life-changing upgrades: It will be faster than previous models and may have a built-in fingerprint reader, but otherwise it's likely to resemble the iPhone 5. If Apple were to drop the iPhone 5 price by $100, many customers would take the discount rather than buy a similar, if slightly more powerful, iPhone 5S. That would reduce the iPhone's average selling price and pressure gross margin even more.

No need to keep the iPhone 5
By contrast, a lineup consisting of the iPhone 5S, 4S, and 4 would make more sense for Apple. There would be clear differentiation between the products. The iPhone 4 provides the base iPhone experience, the iPhone 4S is faster and adds Siri voice-recognition software, and the iPhone 5S would be even faster and include LTE support, a larger screen, and -- potentially -- a fingerprint reader.

The continuing popularity of the older models proves that there's no need to upgrade the lower end of Apple's iPhone lineup. In fact, Apple CEO Tim Cook noted that demand for the iPhone 4 outstripped supply in the fall quarter. This makes sense, insofar as customers who are willing to take an older model to save money are by nature more concerned with price than with having the most powerful device.

Foolish conclusion
There's a good chance that Apple will simply replace the iPhone 5 with the 5S at the top of its smartphone lineup this summer, rather than dropping the iPhone 5's price and keeping it in production. This move would be positive for Apple's gross margin and would probably help Apple return to solid profit growth beginning this summer.

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Airline cell service can be pricey but popular

U.S. airlines will face a decision about whether to provide cellular service on their flights and how to price it, if the Federal Communications Commission decides to allow calls from flights.

But the cost for the service already available on international airlines falls under roaming contracts that typically involve a monthly fee and a change for calls and data used, according to companies involved.

MORE: Foreign-based airlines already have cell service

Two major providers of cellular service aboard foreign airlines – OnAir and AeroMobile – say the costs for using your phone during a flight don't show up separately on the bill. If a passenger has a roaming agreement with their phone service, the phone will work on the plane without even using a password.

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"It's no different than on the ground – it's exactly the same," said Ian Dawkins, CEO of OnAir, which offers mobile service on 16,000 foreign flights a month. "As a user, you have a package whether it's monthly or hourly or whatever it is for data and voice, and we are part of that."

If the Federal Communications Commission agrees to lift its ban on cellular calls on planes, airlines would still have to decide whether to offer the service.

But if airlines do, the keys will be which phone companies have agreements with which cellular providers aboard which planes. OnAir, for example, provides cellular service aboard 14 airlines and has agreements with 350 phone companies worldwide.

Gogo, which offers wi-fi service aboard U.S. airlines when planes are at least 10,000 feet in the air, plans to offer calls and texting if airlines want it. Steve Nolan, a Gogo spokesman, said pricing would match the customer's own phone billing for roaming costs.

"Under Gogo Text & Talk, they will charge according to your plan in the U.S.," Nolan said. "In other words, if yo! u pay for unlimited text messages, you wouldn't incur any additional fees from your carrier."

Billing is under the passenger's agreement with the phone company for international roaming, without even mentioning OnAir or AeroMobile providing the service on a specific flight.

The billing varies by customer, company and country. Two passengers sitting next to each other on the same flight could pay different amounts to make a call or check their e-mail.

AMC IPO Offers Piece of the Action With Your Movie Ticket

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Alamy Barely a year has passed since Chinese conglomerate Dalian Wanda Group completed its $2.6 billion purchase of U.S.-based movie theater chain AMC Entertainment. In one fell swoop, that deal made it the world's biggest cinema operator -- with 432 theaters. Now, 15 months later, Wanda is ready to turn around and IPO AMC on the U.S. stock market -- and great news! They want to let you in on the deal. From Stubs-Member to Stockholder AMC operates a customer loyalty program that it calls "Stubs." Participants in this program pay a $12 annual membership fee. In return, they get benefits such as: $10 in movie theater credit for every $100 they spend at the theaters free upgrades on concessions in the lobby and a waiver of fees for buying tickets online. The prospect of "making your money back" after seeing just two films a year probably makes the program worthwhile all on its own. But this week, AMC added another bonus to the fringe benefits of its Stubs program: Loyal customers now get a chance to buy shares of AMC's stock on the cheap. Technically, AMC says the stock program is for its "employees," but as CEO Gerry Lopez explained : "We're offering this exclusive employee benefit to our AMC Stubs members to express our sincere gratitude for your loyalty." The Details According to the pitch, anyone who's a member of Stubs will be allowed to buy as little as $100 to as much as $2,500 worth of AMC shares at the IPO price, commission-free, by using the free online broker Loyal3. AMC currently plans to price the shares between $18 and $20. This could prove to be a very valuable fringe benefit, as it will give Stubs members a rare opportunity to "get in" on an IPO at the offer price, and to profit from any immediate jump in AMC's share price in the first minutes and hours after the stock begins trading. But there are caveats. First and foremost, there's absolutely no guarantee that AMC shares will go up in price at all, much less skyrocket. Indeed, a 2011 study conducted by BusinessWeek revealed that after initially "popping" from their IPO price, 20 of the 25 hottest IPOs held in 2010 and 2011 "tanked." While it's certainly conceivable that an investor might buy shares at the IPO, time his or her exit just right, and sell before the stock price drops, knowing when to sell is always an exercise in guesswork. Not to put too fine a point on it: If a stock jumps right out of the gate, and never looks back -- see: Tesla (TSLA), Twitter (TWTR) -- but you decide to make a quick couple bucks by selling after the first "pop," you'll kicking yourself for years. On the other hand, The New York Times cites multiple studies showing the downside -- severe -- of holding on too long. One study showed that nearly half of all IPOs ultimately lose money, and the median IPO loses as much as 30 percent of its value over the three years post-IPO. Another study suggests that nearly a third of companies that IPO go bankrupt within 10 years. So ... Should You Buy the IPO or Not? Which kind of IPO AMC will turn out to be is anybody's guess. But there are at a few numbers floating around that suggest that AMC's business isn't doing very well. For example, so far this year, AMC Entertainment posted $2.03 billion in sales. Yes, that was up 4 percent from the $1.96 billion in revenues the company had collected by this time, last year. But meanwhile, rival theater operator Regal Entertainment Group (RGC) was growing more than twice as fast, its revenues up 9.4 percent. Regal's also a more profitable operation than AMC, boasting 12.7 percent operating profit margins on its superior revenues over the past year, versus the mere 7.7 percent margin that AMC pulled down. Now, it's entirely possible that with new management from China, and a fresh infusion of cash from Stubs members, and other IPO investors, AMC will be able to turn itself around an catch up to the competition. But if AMC continues the way it's been going, this "free" fringe benefit of getting a piece of the AMC IPO could turn into an expensive mistake for Stubs members.

China seeking to export apples to USA

SPOKANE, Wash. (AP) — China has its sights set on exporting its fruit to the United States. And that's OK with growers in Washington, who harvest the bulk of America's apple crop.

TRADE: WTO summit yields deal to boost global trade

Having the world's No. 1 apple producer as a competitor may seem counterintuitive, but growers say opening U.S. borders to Chinese apples means American farmers should in turn be able to get a foothold in the country's lucrative and growing market.

"We need to export apples," said Mark Powers, vice president of the Northwest Horticultural Council, a Yakima-based group that handles trade disputes for apple growers in Washington, Oregon and Idaho.

The Chinese consume most of their nation's apple harvest and the expanding market there is particularly attractive to growers in the Northwest who depend on foreign sales because the U.S. already produces more apples than Americans can eat.

Washington grew a record crop of 129 million bushels last year, about 30% of which was exported to countries such as Canada, Mexico and Taiwan. The state's $2.2 billion apple industry accounted for about 65% of America's apple harvest.

Northwest farmers once exported about 11,000 tons of Red Delicious and Golden Delicious apples to China annually. That deal ended a year ago, when China said it was worried that apple diseases from Washington that could damage its own orchards.

But Washington growers suspect the real reason the market closed was to put pressure on the U.S. to allow Chinese apples into this country. And they're hoping trade officials agree to a reciprocity deal soon.

For its part, China, which grows half of the world's apple crop, has been eyeing to the U.S. market for 15 years. Observers think ongoing trade talks may mean U.S. apples could return to the Chinese market by early next year. Chinese apples, meanwhile, could enter the U.S. market by next fall.

"Reopening the Chinese market to the Washington growers is a huge benefit,! " said Scott Marboe, director of marketing for Oneonta Starr Ranch Growers, a Wenatchee apple company. "It is a high-end user of the quality fruit we produce every year."

Still, not everyone is welcoming the possibility.

The U.S. Apple Association, a Virginia-based trade group for the nation's apple growers, worries Chinese imports could come with invasive pests that might damage American orchards.

"Under no circumstances should these pest and disease threats be allowed to enter this country and jeopardize U.S. apple production," the association said in a statement.

Diane Kurrle, the group's vice president of public affairs, said the association has been closely following this issue.

"We strongly support a strong science-based system to ensure that pest and disease issues are treated appropriately," Kurrle said, rather than a political solution that simply opens the door to Chinese apples.

Chinese agricultural officials dismiss that concern. The country already exports apple juice concentrate to the U.S. and sends apples to Asian countries and Canada.

"Chinese apples have been exported to more than 80 countries and regions, which proves that China has the ability to manage pest problems," said Geng Shuang, a trade expert with the Chinese embassy in Washington.

The process for allowing Chinese apples just entered the "pest risk assessment" phase where U.S. scientists consider the chances of pests entering the country in the produce and what damage that could cause, Powers said. More than 20 potential pest risks were recently identified by the USDA.

"The last thing our growers want is a new species of bug that attacks orchards coming in on Chinese fruit," Powers said.

In Washington, state agriculture officials are also awaiting a visit from a Chinese delegation, hoping that would be a final step in opening the Chinese market again to its apples. No trip has been scheduled yet.

"If it's done in the next two or three weeks, we could be shippi! ng produc! t in there as early as January," said Todd Fryhover, president of the Washington Apple Commission, which promotes the state's apples worldwide.

The U.S. is the world's third-largest apple grower behind the European Union. It also imports apples from Chile, Argentina and South Africa. The addition of Chinese apples could mean more competition for American farmers.

"More competition is never a good thing," Fryhover said. "But there is always going to be competition. We can compete with anybody."

ON THE MARKET - Danger lurks - Bullish sentiment perking to multi year highs*

Pre-market – Monday 12-2-2013

"The most important single central fact about a free market is that no exchange takes place unless both parties benefit."

~ Milton Friedman ~

Dr. John L. Faessel

ON THE MARKET

Commentary and Insights

Quotes of the day

Lawless

"The law is applied according to whim, which means there is no law."

~ Mark Steyn ~

&

"U.S. power is growing weaker every year"

~ Brigadier General Hossein Salami ~

Lieutenant Commander of Iran's elite Islamic Revolutionary Guard Corps

***

ALERT

Consensus Index of BULLISH sentiment was up tonewcycle and multi-year highs of 77% from last week's posting of 75%. These new cycle highs in Bullishness of 77% matched the post of 7-months ago and that matched the top tick of 77% Bullish posted on 10/11/2007. *

Last weeks sentiment alert >

The Citigroup "Panic / Euphoria" Model moved well into the Euphoria Zone at a plus 0.52. Last week's post was in high Neutral at plus 0.42. These weeks post is the highest since January 2001. *

MARKET

A quiet but positive week for the major stock markets on declining and well below average volume in the holiday shortened week. "Price" remains extended and is very close to the maximum distance above the 50-day moving average where pull-backs occur - yet the McClellan Oscillator is in neutral at a plus 40 - so the market is not overbought and more upside could be 'absorbed.' Bullish / bearish sentiment overview* is showing a building froth - well above a simmer - so beware - we are now in the land of the lightheaded and giddy market sentiment. There is "no fear" in the market.

Be aware

The debt ceiling is 5-weeks away and that 'it' won't flow thru congress / administration well. The Market will twitch at every "to-and-fro" of the political play out… Be prepared for a market retrench soon.

Hello? Ck this 1929 analog chart from McClellan -

Nobel Prize economist Robert Shiller warns of U.S. stock market bubble

An American who won this year's Nobel Prize for economics believes sharp rises in equity and property prices could lead to a dangerous financial bubble and may end badly, "I am most worried about the boom in the U.S. stock market. Also because our economy is still weak and vulnerable," Shiller said, describing the financial and technology sectors as "overvalued." Link Reuter's story here.

Some Sanity in the Middle East?

The Egyptian authorities have begun revoking the citizenship of Hamas leaders, according to reports in Palestinian and Egyptian media outlets. Link Jerusalem Post article here

Must read!

Free fall: How government policies brought down the housing market

"In less than twenty-five years, affordable housing" and other housing policies have turned a healthy (housing) market into a financial ruin. In 1989, for example, only 1 in 230 homebuyers made a down payment of 3% or less; by 2007, it was 1 in 3. Meanwhile, average home equity plunged from 45% to 7%. The policies that caused the financial crisis are still in force. Until they and the government's role in housing are eliminated, the US housing market will not return to health."

Peter J. Wallison, Edward J. Pinto | American Enterprise Institute

Link the American Enterprise Institute report here

S&P 500

The S&P 500 (SPX) closed Friday at 1805.81 The prior Friday it was 1804.76

The 50-day moving average support is 1742

Short term 'Price' support is at 1801 / 1802 /1799/

The a bit further out 1762 / 1746 / 1740 / 1716 / 1646 and 1627

The 200-day moving average support is at 1650

The top trend line of the channel that goes back 2009 to at (SPX) 1762 is now support ('that' previous resistance was breached on October 22nd.)

Channel and trend line support of (November 2012) is at 1713

Then deep channel and trend line support of (October 2011) is at 1602

Then the deepest channel and trend line support of (March 2009) is at 1420

* This Week's Investor Sentiment

The Bullishness / Bearishness complex overview mixed, but alarmingly high.

(High BULLISH readings in the Investor Sentiment Readings usually are signs of Market tops; low ones, market bottoms.)

Consensus Index of BULLISH sentiment was up to cycle and multi-year highs of 77% from last week's posting of 75%. These new cycle highs in Bullishness of 77% were posted 7-months ago and that matched the top tick of 77% Bullish posted on 10/11/2007.

The Citigroup "Panic / Euphoria" Model registered a plus 0.49 in the Euphoria Zone. Last week's post was a plus 0.52, the highest since January 2001. In early 2000 it ticked its all-time high at plus 0.72. At the end of June, 2011 it ticked cycle lows of minus0.31 in the Panic mode.

The American Association of Individual Investors [AAII]Investor Sentiment Survey of BULLISHNESS jumped to 47.3% from 34.4% the prior week.

The "Bullish" survey posted recent highs of 52.3% 9-months ago. It posted cycle lows of 22.2% on 7/23/2012 the lowest percentile since August 2010. Long-Term Average: Bullish: 39.0%

The American Association of Individual Investors [AAII] Investor Survey of BEARISHNESS lost a few percentile to 28.3 from last week's 29.5% - three weeks before that it was 21.8 -- 8- weeks ago it registered the lowest read since 1/12/2012 at 17.6%. Cycle highs of Bearishness of 54.5% were posted 16 weeks ago. Long-Term Average: Bearish: 30.5%

The Market Vane (Market Letter Survey) up a percentile to 67% from last week's 66%. In October 2007 it topped at 70% bullish.

More bogus Obamacare lies – a new compilation

Ck this link to IBD' detail here

Again - the Truth According to the Congressional Budget Office [CBO] re the number of uninsured

Of the "46 million uninsured" 71% were without insurance for a year or less. Only about 16% were uninsured for two or more years. More than 9 million of those counted among the uninsured were not citizens. Another 6 million who said they were without insurance actually were signed up with Medicaid, and 4 million more were eligible for Medicaid but had failed to enroll. The true number of uninsured individuals was closer to 15 million (5 million of whom were young, single adults). The CBO estimates that even ifObamaCare were fully implemented and worked smoothly, the number of uninsured Americans in 2023 would be, drumroll please, 30 million. Link here

Isolated bits of relevance

Friday's key indicators and metrics:

Cycle highs or lows are in red

·McClellan Oscillator is in Neutral at plus 40

·3-month $ LIBOR was 0.23910%. The prior Friday new lows of 0.23660% were posted.

·CBOE Put / Call Volume Ratio – 0.81

·VIX – 14.70

·Swiss Franc – 1.1028

·US Dollar Index – 80.66

·Euro – 1.3587

Hot Casino Companies To Watch In Right Now

·Japanese Yen – 0.9761 (new 7-months lows) and close to lowest lows of 0.955 posted in May.

·Canadian Dollar – 0.9407 collapsing to at multi-year lows

·Aussie Dollar –0.9092

·Crude oil (NYMEX) 92.72

·Brent crude 109.60

·Copper – 3.2050

·Gold (COMEX) – 1250.6

·Natural Gas (Globex) – 3.954

·The Treasury 5-year yield – 1.36%

·The Treasury 10-year yield – 2.74% - cycle high was on 9/10/2013 at 2.98%

·The 30-year Treasury – 3.81% - cycle high was on August 22nd at 3.93%

·Silver (COMEX) – 19.981

·Platinum 1368.8

·Palladium 719.65

·Lumber (CME) – 364.80

.

Top 10 Casino Companies To Buy Right Now

When a celebrity messes up there's usually a hefty price to pay.

Paula Deen's racial slur cost her dearly in corporate sponsorships.

Paula Deen has seen her future earnings prospects dim after her admission of using a racial slur. She lost her show. Several retailers have stopped stocking the celebrity chef's products. However, Deen has also lost lucrative endorsements with casino operator Caesars Entertainment (NASDAQ: CZR  ) and packaged pork products producer Smithfield Foods (NYSE: SFD  ) .

She's not alone.

Several notable celebrities have found themselves booted from endorsement deals after running afoul of public opinion.

Let's go over five athletes, athletes, singers, and models that have paid the price for messing up.

Tiger Woods
Loyalty is a big thing in sports, so it wasn't a surprise to see the public sour on Tiger Woods after he was caught having affairs with several different women.

Top 10 Casino Companies To Buy Right Now: Penn National Gaming Inc.(PENN)

Penn National Gaming, Inc. and its subsidiaries own and manage gaming and pari-mutuel properties in the United States. It operates approximately 27,000 gaming machines; 500 table games; and 2,000 hotel rooms in 23 facilities in 16 jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maine, Maryland, Mississippi, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, West Virginia, and Ontario. The company was formerly known as PNRC Corp. and changed its name to Penn National Gaming, Inc. in 1994. Penn National Gaming, Inc. was founded in 1982 and is based in Wyomissing, Pennsylvania.

Advisors' Opinion:

• [By Paul Ausick]

  Stocks on the Move: BlackBerry Ltd. (NASDAQ: BBRY) is down 16.4% at $6.50 after announcing that no buyout bid will be forthcoming. Penn National Gaming Inc. (NASDAQ: PENN) is down 76.7% at $13.75 after spinning-off its real-estate holdings into a REIT. Suntech Power Holdings Co. Ltd. (NYSE: STP) is up 15.5% at $1.53 following the acquisition of its major operations in Wuxi.

Top 10 Casino Companies To Buy Right Now: Umax Group Corp (UMAX)

Umax Group Corp., incorporated on March 21, 2011, is a development-stage company. The Company focuses to develop and distribute its product to the arcade and entertainment industry. The Company�� products include Rocket Launch, is Strength testing game which allows players to test their pushing/ throwing strength; Space Hockey, is a two player hockey game - each player must score as many as possible goals and Boxer, is a Simple punch testing game: insert coin/token/bill, press start button, hit the punch bag, wait for result, and try to beat opponent�� score or high score.

As of April 30, 2013, the Company had no revenues. The Company has developed its business plan, and executed exclusive distribution contract GEO a private enterprise, where it engages GEO as an independent contractor for the specific purpose of developing, manufacturing and supplying games for the Company.

5 Best Casino Stocks To Buy Right Now: (XTRN)

Las Vegas Railway Express Inc. focuses to re-establish a conventional passenger train service between the Las Vegas and Los Angeles metropolitan areas. It plans to establish a ?Vegas-style? passenger train service. The company is based in Las Vegas, Nevada.

Top 10 Casino Companies To Buy Right Now: Pinnacle Entertainment Inc.(PNK)

Pinnacle Entertainment, Inc. owns, develops, and operates casinos, and related hospitality and entertainment facilities in the United States. It operates casinos, such as L'Auberge du Lac in Lake Charles, Louisiana; River City Casino and Lumiere Place in St. Louis, Missouri; Boomtown New Orleans in New Orleans, Louisiana; Belterra Casino Resort in Vevay, Indiana; Boomtown Bossier City in Bossier City, Louisiana; and Boomtown Reno in Reno, Nevada. The company also operates River Downs racetrack in southeast Cincinnati, Ohio. As of May 26, 2011, it operated seven casinos and one racetrack. The company was formerly known as Hollywood Park, Inc. and changed its name to Pinnacle Entertainment, Inc. in February 2000. Pinnacle Entertainment, Inc. was founded in 1935 and is based in Las Vegas, Nevada.

Advisors' Opinion:

• [By Ben Levisohn]

  Pinnacle Entertainment (PNK) has gained 56% this year; Las Vegas Sands (LVS) has climbed 38%. And Deutsche Bank has nice things to say about both today.

  Bloomberg

  First Pinnacle. Deutsche Bank’s Carlo Santarelli ponders the stock’s big move and comes away still seeing value in its shares. He writes:

  When we upgraded PNK in April, our thesis centered on the FCF strength of the combined entities [Pinnacle completed its acquisition of Ameristar Casinos on Aug. 14], a handful of favorable catalysts, easing regional gaming comps, & an inexpensive relative valuation. Given the shares’ sizeable move since then, we believe it is worth revisiting the investment case. Post the announcement of several asset sales and the closing of the transaction, we are adjusting our estimates, raising our PT to $30 from $24, and maintaining our bullish view at current levels given what we still believe to be an attractive free cash flow valuation, meaningful potential synergy realization beyond the $40 mm of announced benefits, and a free option on a lagging regional recovery.

  Santarelli also revisited Las Vegas Sands and there too, he likes what he sees. He writes:

  With…LVS at [a share price level] that have been challenging to break from over the last year plus, we believe this time is different and hence we see continued upward momentum…In the case of LVS, we see; 1) meaningful mass market strength continuing through year end, setting the stage for upward company and market estimate revisions for 2014, 2) continued cash flow appreciation and capital returns serving as downside protection and positive catalysts, and 3) continued shared gains, largely driven by table optimization and mass market strength, driving both estimates and sentiment.

  He also likes Wynn Resorts (WYNN), despite its 34% gain.�Santarelli writes:

  As for WYNN, we believe near-term estimates continue to take a back seat to capital return

• [By Travis Hoium]

  What: Shares of Ameristar Casinos (NASDAQ: ASCA  ) and Pinnacle Entertainment (NYSE: PNK  ) fell as much as 11% today after the government brought into question the merger of the two companies.

Top 10 Casino Companies To Buy Right Now: MGM Resorts International(MGM)

MGM Resorts International, through its subsidiaries, primarily owns and operates casino resorts in the United States. The company?s resorts offer gaming, hotel, dining, entertainment, retail, and other resort amenities. It also owns and operates golf courses and a golf club. As of December 31, 2010, the company owned and operated 15 properties located in Nevada, Mississippi, and Michigan; and has 50% investments in 4 other casino resorts in Nevada, Illinois, and Macau. In addition, MGM Resorts International has an agreement with the Mashantucket Pequot Tribal Nation, which owns and operates a casino resort in Connecticut, to carry the ?MGM Grand? brand name. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was founded in 1986 and is based in Las Vegas, Nevada.

Advisors' Opinion:

• [By Travis Hoium]

  Cotai continues to be the growth engine of Macau. The Macau Peninsula, where Wynn Resorts (NASDAQ: WYNN  ) and MGM Resorts (NYSE: MGM  ) are located, have been holding steady but the growth is on Cotai, and that's why investors are willing to pay a premium for Melco Crown and Las Vegas Sands.

Top 10 Casino Companies To Buy Right Now: Boyd Gaming Corporation(BYD)

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in the United States. As of December 31, 2011, the company owned and operated 1,042,787 square feet of casino space, containing approximately 25,973 slot machines, 655 table games, and 11,418 hotel rooms. It also owned and operated 16 gaming entertainment properties located in Nevada, Illinois, Louisiana, Mississippi, Indiana, and New Jersey. In addition, the company owns and operates a pari-mutuel jai-alai facility located in Dania Beach, Florida, as well as a travel agency in Hawaii. Further, it holds a 50% controlling interest in the limited liability company that operates Borgata Hotel Casino and Spa in Atlantic City, New Jersey. Boyd Gaming Corporation was founded in 1988 and is headquartered in Las Vegas, Nevada.

Advisors' Opinion:

• [By Travis Hoium]

  Earnings from Boyd Gaming (NYSE: BYD  ) surprised investors last week, but there's still a lot of fundamental weakness for the company. Revenue is declining across the country as more supply is added to the market, and the only way to grow is through acquisitions. The Fool's Erin Miller sat down with Travis Hoium to see how to play the gaming market now.�

Top 10 Casino Companies To Buy Right Now: Wynn Resorts Limited(WYNN)

Wynn Resorts, Limited, together with its subsidiaries, engages in the development, ownership, and operation of destination casino resorts. The company owns and operates Wynn Las Vegas casino resort in Las Vegas, which includes approximately 22 food and beverage outlets comprising 5 dining restaurants; 2 nightclubs; 1 spa and salon; 1 Ferrari and Maserati automobile dealership; wedding chapels; an 18-hole golf course; meeting space; and foot retail promenade featuring boutiques. Wynn Las Vegas casino resort also features approximately 147 table games, 1 baccarat salon, private VIP gaming rooms, 1 poker room, 1,842 slot machines, and 1 race and sports book. It also owns and operates an Encore at Wynn Las Vegas resort, a destination casino resort located adjacent to Wynn Las Vegas that features a 2,034 all-suite hotel, as well as a casino with 95 table games, 1 sky casino, 1 baccarat salon, private VIP gaming rooms, and 778 slot machines. In addition, the company operates Wyn n Macau casino resort located in the Macau Special Administrative Region of the People?s Republic of China. Wynn Macau casino resort features approximately 595 hotel rooms and suites, 410 table games, 935 slot machines, 1 poker room, 1 sky casino, 6 restaurants, 1 spa and salon, lounges, meeting facilities, and retail space featuring boutiques. Further, it operates Encore at Wynn Macau resort located adjacent to Wynn Macau. Encore at Wynn Macau resort features approximately 410 luxury suites and 4 villas, as well as casino gaming space, including a sky casino consisting of 60 table games and 80 slot machines, 2 restaurants, 1 luxury spa, and retail space. The company was founded in 2002 and is based in Las Vegas, Nevada.

Advisors' Opinion:

• [By Paul Ausick]

  U.S.-based casino operators Las Vegas Sands Inc. (NYSE: LVS), Wynn Resorts Ltd. (NASDAQ: WYNN), and MGM Resorts International (NYSE: MGM) already operate resorts and casinos in Macau and these companies would be much smaller without them.