Valero Energy Corporation Completes Spinoff of CST Brands, Inc

SAN ANTONIO, May 1, 2013 — Valero Energy Corporation (NYSE: VLO) today announced that it has completed the spinoff to its stockholders of its retail business as an independent public company, CST Brands, Inc. Valero will continue to supply fuel to CST Brands’ retail sites through long-term supply agreements. “This action demonstrates Valero’s commitment to provide long-term value to our stockholders,” said Valero Chairman and CEO Bill Klesse. “With its strong management team in place, CST Brands is well-positioned to be a successful independent company. Following the separatio...Read More

CombiMatrix Reports 124% Quarterly Increase Y/Y; Why This Isn’t a Big Deal

"CombiMatrix Reports Preliminary Quarterly Growth in Prenatal Testing Volumes of 124% for First Quarter" For most companies this growth would be substantial, however for CombiMatrix this growth is working off a low base and may not be all that significant. It is a measure of just one of their tests, prenatal, not overall company wide revenue growth. Secondly, it is year-over-year(Y/Y), not quarter over quarter(Q/Q). CBMX reported similar growth Y/Y for last quarter and it equated to Revenue of $1.48 Million and a loss of $3.79 Million. With this report Q/Q growth may actually be close to flat...Read More

Intuitive Surgical = Bullet Proof

Late yesterday Bloomberg reported that Intuitive Surgical's (ISRG) primary product, The da Vinci Surgical System, was being probed for safety by US regulators. Pairing this news with the constant negative coverage Citron Research has provided on the company, the stock quickly declined nearly 80 points or approximately 14%.  It turns out that the government is surveying doctors about ISRG's product for safety.  The stock/company is being defended this today by William Blair's Ben Andrew stating it is "routine post-market surveillance" and to buy the stock under $550 per share. Cantor Fitzger...Read More

Citron Research and Intuitive Surgical

Citron Research and Intuitive Surgical Citron Research began coverage of Intuitive Surgical (ISRG) back on December 19th, 2012 with a negative article that was posted on their website and emailed to subscribers.  The stock proceeded to decline approximately 50 points, a move of over 9 percent in less then 2 days. Quite a substantial move indeed. Unfortunately Citron Research followed up the initial article with an additional negative report on January 17th, 2013.  The stock initially declined 9 points within a short period of time (less then 10 minutes). However that was the bottom, it then proceeded to quickly move up app...Read More

CombiMatrix ~ “Double By The End Of The Month”

Well suffice to say this has occurred already, in fact the shares moved up as much 165% yesterday on the back of an article posted on seekingalpha.com entitled: Why CombiMatrix Shares Will Double By The End Of The Month The author of the above post believes that the upcoming scheduled earnings report in late February will prove to be the catalyst to send this stock higher. The author goes on to say that since year over year billable’s have increased 25%, the resulting earnings report will drive the stock higher. When you look at the numbers this company has posted the last four quarter, yo...Read More

Great Story: JPM, Other Banks Ticking Time Bombs?

"U.S. Banks Aren’t Nearly Ready for Coming European Crisis The euro area faces a major economic crisis, most likely a series of rolling, country-specific problems involving some combination of failing banks and sovereigns that can’t pay their debts in full. This will culminate in systemwide stress, emergency liquidity loans from the European Central Bank and politicians from all the countries involved increasingly at one another’s throats. Even the optimists now say openly that Europe will only solve its problems when the alternatives look sufficiently bleak and time has run out. ...Read More

No, This Market Is Not Broken And Perfectly Efficient!

No, This Market Is Not Broken And Perfectly Efficient! Arena Pharmaceuticals (ARNA) is awaiting an FDA decision on their drug Lorcaserin. In the meantime the algos went stop hunting and smashed ARNA nearly 4 points in 1 minute, not too bad for a days work.  That being said, this seems to be typical behavior for mid to low cap stocks prior to a major FDA decision.

Harvest Natural Resources To Sell Interest In Venezuela For $725 Million

HOUSTON, June 21, 2012 /PRNewswire/ -- Harvest Natural Resources, Inc. (NYSE: HNR) (Harvest or the Company) today announced that its wholly-owned subsidiary, HNR Energia B.V., has signed a definitive Share Purchase Agreement (SPA) with PT Pertamina (Persero), the national oil company of Indonesia (the Buyer), to sell all of the Company's interests in Venezuela for $725.0 million in an all-cash transaction.  Net proceeds from the sale are estimated to be approximately $525.0 million after deductions for transaction related costs and taxes. The Buyer will purchase Harvest's 32 percent intere...Read More

Canadian Housing Boom To Bust

TORONTO – Canada’s housing boom will grind to a halt next year, stopped by price declines in the condominium-saturated markets of Toronto and Vancouver, according to a Reuters poll, raising the risk of a broader economic slowdown. On a national basis, Canadian house prices are expected to rise 2.0% this year before stalling next year with a negligible 0.5% gain, according to median results of the poll, which was conducted last week. ‘Home prices are overvalued by slightly under 10% nationwide (and) most of the overvaluation is concentrated in Toronto and Vancouver’ House price...Read More

Size Player: Oracle CEO Ellison to Buy Most of Hawaiian Island Lanai

Oracle Corp. (ORCL) Chief Executive Officer Larry Ellison has agreed to buy 98 percent of the Hawaiian island of Lanai, according to the current landowner and the state’s governor. “It is my understanding that Mr. Ellison has had a long standing interest in Lanai,” Governor Neil Abercrombie said in a statement. “His passion for nature, particularly the ocean is well known specifically in the realm of America’s Cup sailing.” Lanai, Hawaii’s sixth-largest island with an area of 141 square miles (365 square kilometers), is owned and developed by billionaire David Murdock’s C...Read More

InterDigital Agrees to $375 Million Patent Transaction with Intel

Global Technology Leader to Acquire Approximately 1,700 Patents and Applications Related to 3G, LTE, 802.11 from InterDigital KING OF PRUSSIA, Pa. & SANTA CLARA, Calif.--(BUSINESS WIRE)-- InterDigital, Inc. (NASDAQ: IDCC) and Intel Corporation (NASDAQ: INTC) today announced that certain of InterDigital's subsidiaries have signed a definitive agreement to sell to Intel roughly 1,700 patents and patent applications for $375 million in cash. The agreement involves patents primarily related to 3G, LTE and 802.11 technologies. InterDigital is an active developer of advanced wireless techn...Read More