Houston-based DXP Enterprises (NASDAQ: DXPE ) has purchased Canada's National Process Equipment, also known as Natpro, the company announced Wednesday. In so doing, DXP expanded its industrial equipment wholesaling business to include Natpro's portfolio of pumps, integrated system packaging, compressors, and related equipment.
Natpro also does equipment repairs and servicing. Fifteen years old, DXP's new subsidiary operates out of eight locations in Canada, serving customers primarily in oil and gas and mining, municipal and fire departments, and general industry.
DXP did not disclose financial specifics of the transaction, saying only that it is taking on some debt and issuing some stock to buy Natpro -- suggesting a cash-and-stock mix. Assuming DXP maintained financial discipline and didn't pay much more than its own stock's price-to-sales ratio for its new prize, the total sticker price should not have been much more than $60 million.
DXP shares sank 2.4% in Wednesday trading, closing at $65.38.
Top 10 Media Companies To Buy For 2015: Seacoast Banking Corporation of Florida(SBCF)
Seacoast Banking Corporation of Florida operates as the holding company for Seacoast National Bank that provides various financial products and services in the United States. It offers an array of deposit accounts and retail banking services; engages in consumer and commercial lending activities; and provides various trust and asset management services, as well as securities and annuity products to its customers. The company also offers marine loans. In addition, it provides Internet banking, and brokerage and annuity services. As of June 17, 2011, the company had 39 offices in South and Central Florida. Seacoast Banking Corporation of Florida was founded in 1926 and is based in Stuart, Florida.
Advisors' Opinion:- [By Sean Williams]
One that recently crossed my radar as an "avoid" is small-cap bank Seacoast Banking Corp. of Florida (NASDAQ: SBCF ) �(henceforth known here as Seacoast to make our lives easier).
10 Best Financial Stocks To Buy Right Now: Susquehanna Bancshares Inc.(SUSQ)
Susquehanna Bancshares, Inc., through its subsidiaries, provides retail and commercial banking, and financial services in the mid-Atlantic region. Its retail banking services include checking, savings, and club accounts, as well as check cards, debit cards, money market accounts, certificates of deposit, individual retirement accounts, home equity lines of credit, residential mortgage loans, home improvement loans, automobile loans, personal loans, and Internet banking services. The company?s commercial banking services comprise business checking accounts, cash management services, money market accounts, land acquisition and development loans, commercial loans, floor plan, equipment and working capital lines of credit, small business loans, and Internet banking services. It also offers commercial, property, and casualty insurance; and risk management programs for medium and large sized companies. In addition, it provides traditional trust and custodial services, as well a s acts as an administrator, executor, guardian, and managing agent for individuals, businesses, and non-profit entities. Further, the company offers investment advisory, asset management, and brokerage services for institutional and high net worth individual clients; and provides retirement planning services. Additionally, it engages in the equity management of assets for institutions, pensions, endowments, and high net worth individuals; and provides consumer vehicle financing services. The company operates 221 branches and 26 free-standing automated teller machines. Susquehanna Bancshares, Inc. was founded in 1982 and is based in Lititz, Pennsylvania.
Advisors' Opinion:- [By Rich Duprey]
Financial services holding company�Susquehanna Bancshares (NASDAQ: SUSQ ) announced yesterday its third-quarter dividend of $0.08 per share, the same rate it paid last quarter after raising the payout 14%, from $0.07 per share.
10 Best Financial Stocks To Buy Right Now: Getty Realty Corp (GTY)
Getty Realty Corp. is a real estate investment trust (REIT) in the United States specializing in the ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals. The Company�� properties are located in 21 states across the United States with concentrations in the Northeast and the Mid-Atlantic regions. Its properties are operated under a variety of brands, including Getty, BP, Exxon, Mobil, Shell, Chevron, Valero, Fina and Aloha. It owns the Getty trade name in connection with its real estate and the petroleum marketing business in the United States. As of December 31, 2011, Getty Petroleum Marketing Inc. was in possession of 797 properties representing approximately 69% of its 1,149 owned and leased properties. As of December 31, 2011, the Company owned 996 properties and leased 153 properties. Nine of the properties it owns is petroleum distribution terminals. In January 2011, it acquired fee or leasehold title to 59 Mobil-branded gasoline station and convenience store properties and also took a security interest in six other Mobil-branded gasoline stations and convenience store properties in a sale/leaseback and loan transaction with CPD NY Energy Corp. (CPD NY), a subsidiary of Chestnut Petroleum Dist. Inc. In may 2013, the Company acquired 36 properties located in the metro New York and Washington, D.C. Beltway. The acquisition includes 16 Mobil branded properties in metro New York, and 13 Exxon and 7 Shell branded properties within the Washington, D.C. Beltway.
The Company leases or sublets approximately 20 of its properties for such uses as fast food restaurants, automobile sales and other retail purposes. The Company leases or sublets its properties primarily to distributors and retailers engaged in the sale of gasoline and other motor fuel products, convenience store products and automotive repair services who are responsible for managing the operations conducted at these properties and for the payment of taxes, m! aintenance, repair, insurance and other operating expenses related to these properties. The operators of its properties are primarily distributors and retailers engaged in the sale of gasoline and other motor fuel products, convenience store products, and automotive repair services.
Advisors' Opinion:- [By Rich Duprey]
Real estate investment trust Getty Realty (NYSE: GTY ) will pay a second-quarter dividend of $0.20 per share, the same rate it paid last quarter after it increased it 60% from $0.125 per share, the company announced yesterday.
10 Best Financial Stocks To Buy Right Now: Deutsche Bank AG(DB)
Deutsche Bank Aktiengesellschaft provides investment, financial, and related products and services. The company?s Corporate and Investment Bank division engages in the origination, sale, structuring, and trading of bonds, equities and equity-linked products, exchange-traded and over-the-counter derivatives, foreign exchange, money market instruments, securitized instruments, and commodities to sovereign countries and multinational organizations; and medium-sized companies and multinational corporations. It also offers mergers and acquisitions advisory, corporate finance, and transaction banking, as well as trade finance, cash management, and trust and securities services for financial institutions and other companies. The company?s Private Clients and Asset Management division provides mutual funds and alternative investment products; manages real estate and infrastructure investments and private equity funds; offers advisory and portfolio management services to insurance companies; and provides investment solutions to institutional customers, high net worth individuals, and families. This division also offers a range of banking products and services, including current accounts, deposits and loans, and investment management and pension products to private and self-employed individuals, and small to medium-sized businesses. Its Corporate Investments division?s principal investment activities comprise private equity and venture capital investments, corporate real estate investments, a minority stake in Deutsche Postbank AG, credit exposures, and other non-strategic investments. As of December 31, 2010, the company operated 3,083 branches in approximately 74 countries worldwide, including 2,087 in Germany. Deutsche Bank Aktiengesellschaft was founded in 1870 and is headquartered in Frankfurt am Main, Germany.
Advisors' Opinion:- [By William Patalon III]
LNG closed yesterday at $39.70. Deutsche Bank AG (NYSE: DB) recently boosted its near-term target price on the stock from $39 to $47 - a potential gain of 18% from current levels and 59% from where we recommended it.
- [By Jessica Alling]
3. Market share
Citi has cut Deutsche Bank's (NYSE: DB ) lead in currency trading down to 0.28% as it made gains in the emerging markets. Citi currently holds 14.9% of the market for currency trades, with 15.68% in emerging markets. Asia, where Citi is well positioned, accounted for a larger cut of the trading, jumping from 21% to 26%. The currency trading market accounted for $225 trillion in turnover, making it a huge win for Citi to march toward the top spot.
10 Best Financial Stocks To Buy Right Now: Raiffeisen Bank International AG (RBI)
Raiffeisen Bank International AG (RBI) is an Austria-based bank that focuses on corporate and retail banking sector. The Bank offers a range of products and consulting services, as well as market knowledge. The Bank�� products and solutions include financing, leasing, investing, hedging, trade & export finance, investment banking, cash management, payment services, custody & fund services, and cards, among others. RBI is organized into seven segments: the Central Europe segment encompassed the banking markets in the European Union countries in Central and Eastern Europe (CEE) region; the Southeastern Europe segment comprises Albania, Bosnia and Herzegovina, Bulgaria and Croatia, among others; the Commonwealth of Independent States (CIS) other segment comprises Belarus, Kazakhstan and Ukraine; the Group Corporates segment covers business with corporate customers of the Bank; the Group Markets segment covers capital market customers and business; Corporate Center, and Russia. Advisors' Opinion:- [By Rebecca Bundhun]
The Reserve Bank of India (RBI) recently banned banks from issuing loans under the ��0:20 scheme�� which, through a three-way agreement between the lender, the developer, and the homebuyer, allowed the customer to pay 20% upfront, while the remainder of the loan would be issued to the developer, regardless of the stage of construction.
10 Best Financial Stocks To Buy Right Now: Guggenheim CurrencyShares Euro Trust (FXE)
Guggenheim CurrencyShares Euro Trust, formerly CurrencyShares Euro Trust, is a grantor trust. The Trust issues shares (the Shares) in blocks of 50,000 (a Basket) in exchange for deposits of euro and distributes euro in connection with the redemption of Baskets. The investment objective of the Trust is for the Shares to reflect the price of euro plus accrued interest. The Shares are intended to offer investors an opportunity to participate in the market for the euro through an investment in securities. The Shares are bought and sold on NYSE Arca. The Shares are backed by the assets of the Trust, which does not hold or use derivative products. The Trust holds euro and, from time to time, issues Baskets in exchange for deposits of euro and distributes euro in connection with redemptions of Baskets.
The Sponsor is Rydex Specialized Products LLC. The Bank of New York Mellon serves as the Trustee. JPMorgan Chase Bank, N.A., London Branch is the Depository. The Depository maintains two deposit accounts for the Trust, a primary deposit account which may earn interest and a secondary deposit account which does not earn interest (Deposit Accounts). The secondary deposit account is used to account for interest received and paid out on creations and redemptions of Baskets. The secondary account is also used to account for interest, if any, earned on the primary deposit account, pay Trust expenses and distribute any excess interest to Shareholders on a monthly basis.
Advisors' Opinion:- [By Ben Levisohn]
The euro has dropped about 0.8% against the dollar, while the CurrencyShares Euro Trust ETF (FXE) has dropped 0.7% to $136.71 and the Currency Shares Japanese Yen Trust ETF (FXY) has fallen 1%. The ProShares UltrasShort Euro ETF (EUO) has gained 1.3% to $16.77, while the ProShares UltraShort Yen (YCS) has gained 1.9% to $66.58.
- [By Richard Cox]
Elsewhere, similar market reactions could were seen after last week's monetary policy meeting at the European Central Bank [ECB]. The ECB also did little to signal changes to its own stimulus programs, which was not a total surprise, given the fact that the bank reduced interest rates by 25 basis points to new all-time lows at 0.75% at last month's meeting. The main potential for surprise, however, came from the possibility that the central bank would announce the implementation of negative interest rates (the rate paid to commercial banks when holding money). Since this would have been a bearish outcome for the EUR/USD, markets have since bought the Euro, pushing the CurrencyShares Euro Trust ETF (FXE) higher.
10 Best Financial Stocks To Buy Right Now: Gleacher & Company Inc.(GLCH)
Gleacher & Company, Inc., an independent investment bank, provides corporate and institutional clients with advice and execution in the areas of advisory services, capital raising and research, sales, and trading. It operates through five segments: Mortgage Backed/Asset Backed & Rates (MBS/ABS & Rates), Corporate Credit, Investment Banking, Equities, and Other. The MBS/ABS & Rates segment provides sales, trading, banking, research, and advisory services on a range of mortgage and asset-backed securities; the United States Treasury and government agency securities; and structured products, such as collateralized loan obligations and collateralized debt obligations, whole loans, and other securities. The Corporate Credit segment offers analysis, sales, and trading on various debt securities comprising bank debt and loans, investment grade debt, high-yield debt, treasuries, convertibles, distressed debt, preferred debt, emerging markets debt, and reorganization equities to co rporate and institutional investor clients. The Investment Banking segment provides financial advisory services in regards to mergers and acquisitions, restructurings, recapitalizations, and capital markets-related matters. It engages in capital raising through underwritings and private placements of equity and debt securities. The Equities segment offers research on customer trades in equity securities in aerospace, defense, industrials, technology, healthcare, and REIT sectors. The Other segment provides early stage growth capital to companies in the information and energy technology sectors. The company was formerly known as Broadpoint Gleacher Securities Group, Inc. Gleacher & Company, Inc. was founded in 1952 and is headquartered in New York, New York.
Advisors' Opinion:- [By Eric Volkman]
The upper ranks of Gleacher (NASDAQ: GLCH ) management have seen a major shake-up. The financial services company has relieved both CEO Thomas Hughes, and COO John Griff, of their jobs. In a tersely worded filing with the Securities and Exchange Commission, it said that the twin terminations were effective immediately. It provided no reason for its actions.
- [By Eric Volkman]
Investment bank Gleacher (NASDAQ: GLCH ) has announced that it will exit its mortgage-backed securities and rates business, as well as its credit-products operations. This move, the repercussions of which could potentially affect up to roughly 160 employees, is effective immediately.
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