Today’s Guest editor, Melinda Gates, who with her husband Bill, is one of the world’s leading philanthropists. The sage of Omaha, Warren Buffett, talks to Mrs Gates about philanthropy in the US.
AZUSA, CA–(Marketwire – Sep 28, 2012) – The dream of homeownership is coming true for LA buyers at the popular townhome neighborhoods of Sage Court and Gardenia in Azusa. Located in the resort-inspired community of Rosedale, the fastest-selling community in the San Gabriel Valley, William Lyon Homes presents a fantastic selection of brand new modern townhomes in one great location. With floorplans ready to welcome buyers home in 30 days, now is a great time to buy at Sage Court or Gardenia and move just in time to celebrate a memorable holiday season with family and friends. Don’t wait any longer and get connected to these must-see neighborhoods by visiting www.lyonsagecourt.com and www.lyongardenia.com and Like them on Facebook for the latest updates.
See the original post here: Buy Now at Sage Court & Gardenia and Move Before the Holidays
Category : Business
Top ten risers in the leading index come from mining sector on hopes bank stimulus will boost commodity demand
Mining shares surged and led the market to a six month high, after the US Federal Reserve became the latest bank to attempt to boost the flagging global economy.
Thursday’s announcement of a third round of quantitative easing by Fed chairman Ben Bernanke helped lift the price of commodities, with copper hitting a five month high on the prospect of increased demand for metals. The Fed’s action came a week after the European Central Bank unveiled a bond buying programme to help struggling eurozone countries, with investors hoping China would soon follow suit and cut its interest rates or enact other stimulus measures. UBS said:
The Fed’s announcement of QE3 is clearly bullish for commodities and the miners. Copper is well positioned to benefit after destocking with speculative interest. We expect iron ore prices to recover with seasonal demand towards the end of October; QE3, with China stimulus/steel mill destocking, increases confidence in our 2013 forecasts.
Kazakhmys closed 93p higher at 773p while Russian steel group Evraz, controlled by Chelsea owner Roman Abramovich, ended up 34.3p at 293.7p. Vedanta Resources rose 128.5p to £10.90, despite having to halt iron ore production in Goa this week amid an investigation into the legality of mining operations in the area.
Xstrata added 67.5p to 1060.5p, ahead of a decision by its board about whether to recommend a revised $34bn bid from Glencore, up 25.55p at 378.85p. Xstrata also shook off problems at Rustenburg in South Africa, where striking miners have been protesting against wage restraints. Xstrata, Anglo American, up 175p at £20.84, Aquarius Platinum, 7.7p higher at 48.8p, and Lonmin, 29p better at 614.5p, have all been forced to shut down mines as tensions escalated following the killing last month of 34 miners.
The top ten risers in the FTSE 100 were commodity companies, helping lift the leading index 95.63 points higher to 5915.55, its best level since 19 March. The leading index has added more than 120 points in a week which, apart from the Fed move, saw progress in the eurozone crisis, with a pro-euro vote in the Dutch elections, Germany’s constitutional court backing the eurozone bailout fund and hopes that Spain will receive bailout assistance.
The week also saw a spate of takeover rumours. Software group Sage edged up another 1p to 318.1p – a near 5% rise on the week following talk of a potential 450p a share offer from private equity. Microsoft and SAP have also been named as potential predators for Sage in the past, but some in the City remain sceptical. George O’Connor of Panmure Gordon issued a sell note, saying:
We dispute the take-over chit chat, hence we encourage investors to bank some profit, before trading news gets in the way.
J Sainsbury added 3.5p to 341p on revived chatter that 26% shareholder the Qatari Investment Authority might be considering another bid after its failed attempt with a 600p offer five years ago.
One longstanding takeover tale came good. BAE Systems confirmed it was in merger talks with Airbus maker EADS. BAE closed 9.9p higher at 347p.
Apple’s launch of its new iPhone helped one of its suppliers, chip designer Arm, up 20p at 582p. Imagination Technologies, another Apple supplier which fell back on Thursday after an uninspiring trading update, recovered 24p to 590p.
Elsewhere Reckitt Benckiser fell 62p to £35.72 after analysts at Liberum Capital issued a sell note:
For the buy case to work one would have to assume earnings from [Reckitt Benkiser's pharmaceuticals division] at least doubles; given the threat of generics and potential alternative treatments we think that is not realistic.
Intertek lost 11p to £2718 after HSBC cut its target price on the testing and inspection group from £29.65 to £29.40 and moved from overweight to neutral.
With risk back on the agenda, defensive stocks were unwanted. GlaxoSmithKline fell 22p to 1417.5p, and AstraZeneca dropped 19.5p to £28.93.
A couple of consumer businesses that rarely disappoint investors, managed to do just that during the week. Next fell sharply after it reported a slowdown in sales in August and early September on Thursday but regained 40p to £33.60. Burberry added 44p to £10.94 but failed to regain all of the losses made since Tuesday’s profit warning, which prompted fears the boom in the luxury goods market had finally run out of steam.
But Ocado added 1.2p to 74.05p, despite a downbeat note on the online grocer from analysts at Barclays:
After a disruptive Jubilee weekend in the second quarter, Ocado’s chief executive sensibly erred on the side of caution and commented that the effect of the Olympic Games “was uncertain.” Now that the summer’s sporting events are over, we suspect that the Olympic Games will have been unhelpful on balance for Ocado and expect slower sales growth in the third quarter (around 11%).
Given a lack of market share indicators for Ocado we would not be surprised to see a even more significant slowdown in sales growth. [Note that Ocado reported second quarter growth of 13% and first quarter growth of 10.9%]. It is worth nothing that the third quarter is a one off given the Olympics, so it would not be fair to draw a strong long-term implication from this trading statement, however it is likely to weigh on short term sentiment. Such a performance would imply that Ocado needs to have a very strong fourth quarter to meet second half consensus sales estimates.
BSkyB, beaten by BT to a £152m rugby television rights deal, dropped 24p to 720pp despite news it had bought back another 350,000 shares for cancellation.
Lower down the market Pace slumped nearly 10% to 162.5p following a report that BT had decided not to use the company’s set top boxes for the YouView service. Pace later said the outcome of its discussions with BT would not have a material impact on its earnings, but this did little to calm investors’ nerves.
Perennial bid target boosted as Emerson said to be interested in controls business
Invensys has been a supposed bid target for months if not years, but the speculation has resurfaced to drive its shares up by more than a quarter.
America’s GE, Germany’s Siemens and China’s CSR have been suggested as possible bidders in the past, but the latest speculation indicated interest from US group Emerson Electric. The rumours suggested Emerson was mainly interested in the company’s controls business and not the rail division, but would be willing to buy the whole lot to achieve its aims. That was enough to see Invensys jump 54p to 257p, valuing the company at more than £2bn.
But as Singer Capital Markets pointed out recently following a meeting with the company:
The pension deficit remains a big if not insurmountable obstacle for a bid.
Overall the market moved higher on hopes that central banks would unveil measures to stimulate the sluggish global economy, beginning with the US Federal Reserve after its latest meeting. Despite confusion about whether Europe had agreed on using its bailout funds for a programme to buy up bonds from struggling members of the eurozone, the mood was cautiously optimistic. News that Greece had finally formed a government helped sentiment, although renegotiation of its bailout terms could yet prove a stumbling block to any economic stability.
By the close the FTSE 100 was 35.98 points better at 5622.29.
Aviva added 12.5p to 279.1p on reports the European Union was considering phasing in new capital rules for life insurers over seven years, easing the burden on the sector.
Sage climbed 14p to 267.5p, the biggest riser in the leading index, as the accountancy software group unveiled a move into Brazil with the £125m acquisition of small business specialist Folhamatic. Gareth Evans at Canaccord Genuity said:
This deal is interesting – in some ways it is a return to the “good old days” of Sage’s acquisitive growth. In others, it is quite different – paying a reasonably full price for a business already operating at very strong margins. Traditionally Sage acquired smaller players, operating at relatively poor margins, and benefited in subsequent years by migrating the acquired business towards Sage-group methodologies and margins.
This deal is therefore about acquiring a platform for revenue growth, rather than post-acquisition margin improvement. Sage is buying a smaller lookalike, which should generate revenue growth given the Brazilian economic outlook.
Elsewhere ITV continued to gain ground on bid talk. The broadcaster was also boosted by news of a tender offer for up to £250m of its bonds, which would lower its interest payments. Traders said this could also aid a possible takeover of the business by private equity, the rumour that did the rounds on Tuesday.
ITV’s shares closed 2.25p higher at 76.5p, albeit well short of the speculated 150p a share bid. Ian Whittaker at Liberum Capital said the takeover tale had been heard many times before, but pointed out that one of the speculated parties, KKR, is the co-controller of Germany’s ProSieben. He added:
Given ITV is heavily cash positive (around £280m by the year end), this would be attractive to a private equity buyer especially given ITV’s recent £250m bond buyback, which lessens the bond buyback complications inherent in any takeover.
As he said, ITV has been the subject of many takeover tales in recent times, with even Apple mentioned as a potential buyer at one point.
On the bond move Alex DeGroote at Panmure Gordon said:
Very sensible treasury action. ITV has around £1bn cash on its balance sheet. Hopefully this will persuade the (stock) market that ITV is more than just a play on advertising.
The market is plainly obsessed by advertising momentum. This may have deteriorated in the third quarter, following a very strong second quarter. It remains volatile. At the same time, the Premier League auction (sports rights) highlighted the value of content. ITV is major content player, with more than 20% of EBITDA coming from Studios now.
Among the biggest fallers were the water companies, but only because they went ex-dividend. Severn Trent lost 115p to £16.34 after shareholders lost the right to a 42p dividend and a 63p special payment. United Utilities - also ex-div – fell 13.5p to 656p.
Home Retail lost 4.85p to 87p as HSBC moved from overweight to neutral in the wake of the Argos and Homebase owner’s update on Tuesday, and cut its target price from 110p to 100p. The bank said:
[It was a] better-than-expected first quarter outturn but limited visibility is likely to restrict further upside in the short-term.
A negative outlook from US consumer group Procter & Gamble hit rivals, with Unilever down 13p at £20.62 and Reckitt Benckiser 30p lower at £33.67.
Lower down the market Ithaca Energy, the North Sea oil explorer, rose 4.5p to 116p on speculation that Cairn Energy, Dana Petroleum purchaser Korea National Oil Corporation or Soco International could be interested in the North Sea oil producer.
Finally Pinnacle Technology added more than 1% to 0.375p after it was selected to deliver the broadcast technology for the BBC’s forthcoming Big Weekend in Hackney. This will be the largest ever event broadcast via internet technology instead of traditional telecoms. Pinnacle was recently involved in the outside broadcasting of the Queen’s Jubilee and are providing the broadcasting capabilities for international broadcasts at the Olympics.
Category : Stocks
$3.46M – that’s the cost of lunch at the Smith & Wollensky steakhouse in Manhattan with Warren Buffett following the latest annual charity auction for the right to dine with the Sage of Omaha. The price is well above the $2.63M paid last year by fund manager Ted Weschler, who was later recruited to work at Berkshire Hathaway. 2 comments!
View post: $3.46M – that’s the cost of lunch at the Smith & Wollensky steakhouse in Manhattan with Warren Buffett following the latest annual charity auction for the right to dine with the Sage of Omaha. The price is well above the $2.63M paid last year by…
TORONTO, ONTARIO–(Marketwire – April 27, 2012) - Sage Gold Inc. (TSX VENTURE:SGX) announces that, conditional approval has been received from the TSX Venture Exchange for the issue of 2,625,884 common shares of the Company at $0.085 as settlement of debt of $223,200.10 due to various trade creditors. The shares issued have a four (4) month hold period which expires on August 27, 2012.
Originally posted here: Sage Completes Shares for Debt Transaction
TORONTO, ONTARIO–(Marketwire – April 13, 2012) - New Sage Energy Corp. (“New Sage” or the “Company”) (TSX VENTURE:NSG.H) announces that the TSX Venture Exchange (the “Exchange”) has transferred the Company’s listing to the NEX board of the Exchange (“NEX”) effective April 11, 2012. The Company’s common shares now trade under the symbol “NSG.H”.
Original post: New Sage Energy Corp. Notice of Transfer to NEX
SAN JOSE, CA–(Marketwire – Mar 6, 2012) – Harmonic Inc. (