The company announced Friday that it had proposed a settlement with the state Public Utilities Commission, which objected to the plan.
In May, Berkshire Hathaway's MidAmerican Energy said it would buy the Nevada electric and natural gas company for $5.6 billion. The deal is expected to close sometime in the first quarter of next year. It will be one of MidAmerican's biggest deals.
The plan was for MidAmerican shareholders to put in $3.6 billion, and utility customers to pick up the remaining $2 billion, called the acquisition premium.
"The $2 billion doesn't represent cost to provide service to the captive customers. It represents a premium paid by MidAmerican and Berkshire Hathaway to NV Energy shareholders," attorney general spokeswoman Jennifer Lopez said. "The premium paid is going to the shareholders and not benefiting the customers and should not be passed on to ratepayers to pay in its electric rates."
Top 5 Healthcare Equipment Stocks To Own Right Now: Washington Federal Inc (WAFD)
Washington Federal, Inc., incorporated on November 15, 1994, is a bank holding company, which conducts its operations through a federally-insured savings association subsidiary, Washington Federal (Bank). The Bank is a federal savings association. The business of the Bank consists of attracting deposits from the general public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family and other income producing properties, home equity loans and business loans. It also invests in United States government and agency obligations and other investments permitted by applicable laws and regulations. As of September 30, 2013, Washington Federal had 182 full service branches located in Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico and Texas. Through its subsidiaries, the Company is also engaged in real estate investment and insurance brokerage activities. The principal sources of funds for the Company's activities are retained earnings, loan repayments (including prepayments), net deposit inflows, repayments and sales of investments and borrowings. Washington Federal's principal sources of revenue are interest on loans and interest and dividends on investments. Its principal expenses are interest paid on deposits, credit costs, general and administrative expenses, interest on borrowings and income taxes. On October 31, 2012, South Valley Bancorp, Inc. merged with and into the Company, followed by the merger of South Valley's wholly owned subsidiary, South Valley Bank & Trust, into the Bank.
Lending Activities
As of September 30, 2013, the Company's net portfolio of loans totaled $7.5 billion representing approximately 58% of its total assets. The Company concentrates its lending activities on the origination of 30-year, fixed-rate mortgage loans, which are neither insured nor guaranteed by agencies of the United States government. Washin! gton Federal's lending activity is concentrated on the origination of loans secured by real estate, including long-term fixed-rate mortgage loans, adjustable-rate construction loans, adjustable-rate land development loans, fixed-rate multi-family loans and business loans.
The Company's lending activity is the origination of real estate mortgage loans to purchase or refinance single-family residences. The Company also originates a range of construction and land development loans, along with multi-family residential and commercial loans. As of September 30, 2013, single-family residential loans totaled $5.4 billion, or 67.2% of the Company's gross loan portfolio; construction- speculative loans totaled$131 million, or 1.6% of the Company's gross loan portfolio; construction - custom loans totaled $303 million, or 3.8% of the Company's gross loan portfolio; land acquisition and development loans totaled $82 million, or 1.0% of the Company's gross loan portfolio; land - consumer lot loans totaled $125 million, or 1.6% of the Company's gross loan portfolio; multi-family loans totaled $836 million, or 10.5% of the Company's gross loan portfolio; commercial real estate loans totaled $625 million, or 7.8% of the Company's gross loan portfolio; commercial and industrial loans totaled $326 million, or 4.1% of the Company's gross loan portfolio; home equity line of credit (HELOC) loans totaled $134 million, or 1.7% of the Company's gross loan portfolio and consumer loans totaled $55 million, or 0.7% of the Company's gross loan portfolio.
The Company originates 30 year fixed-rate loans secured by single-family residences. The Company originates construction loans to finance construction of single-family and multi-family residences, as well as commercial properties. Loans made to individuals for construction of their home generally are 30 year fixed rate loans. Multi-family residential (five or more dwelling units) loans are secured by multi-family rental properties, such as apartment build! ings.
!The Company makes various types of business loans to customers in its market area for working capital, acquiring real estate, equipment or other business purposes, such as acquisitions. The terms of these loans range from less than one year to a maximum of 10 years. Consumer loans are home improvement loans made through third party originators that bear interest at rates of 10% and higher.
Investment Activities
As a federal association, the Bank is obligated to maintain adequate liquidity and does so by holding cash and cash equivalents and by investing in securities. These investments include, among other things, certain certificates of deposit, repurchase agreements, bankers��acceptances, loans to financial institutions whose deposits are federally-insured, federal funds, United States government and agency obligations and mortgage-backed securities.
Sources of Funds
Deposits are the source of the Company�� funds for use in lending and other general business purposes. In addition to deposits, Washington Federal derives funds from loan repayments, advances from the Federal Home Loan Bank (FHLB) and other borrowings and from investment repayments and sales. The Company�� deposits are obtained from residents of Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico and Texas. The Company obtains advances from the FHLB upon the security of the FHLB capital stock it owns and certain of its loans, provided certain standards related to credit worthiness have been met. The Company also uses reverse repurchase agreements as a form of borrowing. Under reverse repurchase agreements, the Company sells an investment security to a dealer for a period of time and agrees to buy back that security at the end of the period and pay the dealer a stated interest rate for the use of the dealer's funds. The Company also offers two forms of repurchase agreements to its customers. One form has an interest rate, which floats like that of a money market d! eposit ac! count. The other form has a fixed rate and is offered in a minimum denomination of $100,000. Both forms are fully collateralized by securities. As of September 30, 2013, the Company had $46.1 million of such agreements outstanding.
Advisors' Opinion:- [By Eric Volkman]
Washington Federal (NASDAQ: WAFD ) is keeping its dividend level even as it effects a corporate transformation by the end of next month. The company has declared a quarterly distribution of $0.09 per share, to be paid on July 19 to shareholders of record as of July 5. That amount matches the firm's previous distribution, which was paid in April. Prior to that, it handed out a penny less at $0.08 per share.
- [By Brian Pacampara]
What: Shares of financial holding company Washington Federal (NASDAQ: WAFD ) climbed as high as 10% today after its quarterly results topped Wall Street expectations.�
Top 5 Healthcare Equipment Stocks To Own Right Now: Tencent Holdings Ltd (TCTZF)
Tencent Holdings Limited is an investment holding company. The Company and its subsidiaries are principally engaged in the provision of Internet value-added services, mobile and telecommunications value-added services and online advertising services to users in the People�� Republic of China. The Company operates in four segments: Internet value-added services, Mobile and telecommunications value-added services, Online advertising, and Others. As of December 31, 2011, its subsidiaries included Tencent Cyber (Tianjin) Company Limited, Tencent Asset Management Limited, Tencent Technology (Beijing) Company Limited, Tencent Cyber (Shenzhen) Company Limited, Tencent Technology (Shanghai) Company Limited and others. Advisors' Opinion:- [By MARKETWATCH]
LOS ANGELES (MarketWatch) -- Chinese stocks fell early Wednesday, joining a broadly negative day for regional trade in the wake of overnight losses on Wall Street. Hong Kong's Hang Seng Index (HK:HSI) dropped by 0.5% to 23,625.77, with the Hang Seng China Enterprises Index 0.8% lower, while the Shanghai Composite (CN:SHCOMP) fell 0.7%. Top-weighted Hang Seng component HSBC Holdings PLC (HK:5) fell 0.5%, while fellow international lender Standard Chartered PLC (HK:2888) (UK:STAN) lost 1.4%, with some reports linking the losses to the approval of the so-called Volcker rule in the U.S. which prohibits most proprietary trading by banks there. The Financial Times also cited concerns about possible cash-calls as weighing on Standard Chartered. Meanwhile, ratings moves influenced some shares. Jiangxi Copper Co. (HK:358) (JIXAY) retreated 1%, and China Shenhua Energy Co. (HK:1088) (CUAEF) dropped 1.4% after Credit Suisse cut both stocks to neutral, according to Kim Eng Securities. However, Tencent Holdings Ltd. (HK:700) (TCTZF) added 1.5% to its price after Deutsche Bank upped the Internet content provider's rating to buy. Also bucking the downtrend, China Overseas Land & Investment Ltd. (HK:688) (CAOVF) gained
- [By Jim Jubak]
In Asia today, Tencent Holdings ((HK:700) in Hong Kong and (TCTZF) in New York) closed down 5.9% in Hong Kong. The company, know for its WeChat mobile messaging platform (with 355 million average monthly users), made $100 million in revenue in the fourth quarter from games, such as Cross Fire and League of Legends on the WeChat platform. Naver (KS:035420), a Korean company that, like Tencent, combines mobile messaging with games, dropped 3% in Seoul.
- [By Craig Stephen]
Still, this pilot scheme offers something new to mainland investors. They can now invest in sectors of the economy which were previously off limits, giving more choice outside the old state-owned industries. This will include areas such as Macau gaming and Internet stocks. One of the largest, traded stocks in Hong Kong is Tencent (HK:0700) � (TCTZF) , which is likely to be added to mainland portfolios.
Top 10 Airline Companies To Invest In Right Now: WidePoint Corp (WYY)
WidePoint Corporation (WidePoint), incorporated on May 30, 1997, is a provider of customized technology-based products and solutions to both the government sector and commercial markets. The Company operates in three segments: Communications Management, Cybersecurity Solutions, and Consulting Services and Products. WidePoint, through its wholly owned subsidiaries iSYS LLC (iSYS) and WidePoint Solutions Corp. (WSC), utilizes its experience working with government and commercial enterprises to develop solutions that take the pain out of managing wireless and wireline telecommunications (telecom) expenses and devices. Through its wholly owned subsidiaries Operational Research Consultants (ORC), Protexx Technology Corporation (PROTEXX), and Advanced Response Concepts Corporation (ARCC), delivers compliant identity management solutions. The Company offers a range of information technology (IT) consulting services and products to support its clients��IT needs.
Communications Management
The Company offers a Bands of Minutes approach that takes advantage of bulk savings for its clients by utilizing all available voice, data and message plans offered by the carriers. It provides a variety of reports that provide data for ongoing periodic reviews and strategic decision-making. It also provides secured solutions for its clients��telecom assets.
Cybersecurity Solutions
WidePoint�� wholly owned subsidiary, ORC, is certified by the federal government to facilitate public access to the services offered by government agencies, including on-line access to computers for purposes of reviewing, retrieving, providing, and exchanging information. Its digital certificate credentials are authorized to provide trusted individual or business identity information for use by the Department of Defense (DoD), FirstGov, General Services Administration (GSA) and participating federal government agencies. Its digital certificate credential services include the DoD External Cer! tificate Authority, Access Certificates for Electronic Services, and the General Services Administration Shared Service Provider. It also provide an analysis of an organization�� business and technical policies across application and data resources for the implementation of various devices, such as smart cards, security tokens, cell phones and personal computers, and implementing these capabilities by incorporating higher levels of automated infrastructure.
Consulting Services and Products
The Company offers IT architecture and planning services to ensure that it clients get the most from their IT investments. Its system integration services team provides its clients with the creative and technical expertise needed to execute projects of any size. The Company specializes in the areas of Infrastructure management, Applications management and IT strategic planning. iSYS provides a range of IA support services to help its customers to protect and defend information and information systems by ensuring confidentiality, integrity, authentication, availability, and non-repudiation. In addition, its IA services include strategic risk analysis and management support that includes physical security, reliability, continuity of operations planning, and support for other enterprise governance issues, such as privacy, compliance, audits and disaster recovery. Its IA services include Certification and Accreditation; Security Architecture Design; System Security Planning; Security Risk Assessment and Mitigation Planning; Vulnerability Testing and Remediation; Customizable IA plans and processes to correspond to customer needs, and Continuity of Operations Planning. Its support services address on-going enhancements to existing IT systems along with developing new IT systems that incorporate the evolution of long-term advanced hardware and software technologies.
The Company competes with Avalon Global Solutions, Inc., Profitline, Rivermine, Lockheed Martin Corporation, Northrop G! rumman Co! rporation, EDS, Unisys, Computer Services Corporation, Science Applications International Corporation and Manpower.
Advisors' Opinion:- [By Bryan Murphy]
If you're a fan of, or investor in, WidePoint Corporation (NYSEMKT:WYY), then be warned now that what you're about to read regarding WYY is likely to irritate you. Nothing personal; it's just a reality check. Here goes - WidePoint shares are very likely to be at the onset of a sizeable pullback. [Insert boos and hisses here.]
- [By Bryan Murphy]
If you're reading this, then odds are you already know that small caps WidePoint Corporation (NYSEMKT:WYY), CytRx Corporation (NASDAQ:CYTR), and Elephant Talk Communications Corp. (NYSEMKT:ETAK) are among the recent big winners from the small cap stock realm. ETAK is up 100% since the end of October, largely spurred by encouraging numbers in its third-quarter results. CYTR shares have rallied more than 150% in just the past three days on the heels of an announcement that a cancer drug the biotech company is developing has shown wonderful Phase 2 results. And, WYY has advanced 93% over the past month or so, thanks to Q3's earnings announcement, though the trading public - and then the media - certainly took the ball and ran with it.
Top 5 Healthcare Equipment Stocks To Own Right Now: Solitario Exploration & Royalty Corp (XPL)
Solitario Exploration & Royalty Corp. is an exploration company. The Company is a gold producer with its development-stage Mt.Hamilton gold project in Nevada. The Company has a portfolio of royalty structured joint ventures on advanced mineral projects with partners, such as Votorantim Metais, Anglo Platinum and Newmont Mining. The Company�� advanced projects include Mt. Hamilton: gold project, the United States, Bongara: zinc-lead-silver, Peru, and Pedra Branca: platinum-palladium, Brazil. Its gold-silver exploration projects include Pachuca Real: silver-gold, Mexico and Cerro Azul: Gold-Silver, Peru. The Company�� base metal and polymetallic exploration projects include Chambara: zinc-lead-silver, Peru and La Promesa: silver-zinc-lead-indium, Peru. In December 2013, Solitario Exploration & Royalty Corp raised its interest to 23.537% from 3.233%, by acquiring a 20.304% stake in Ely Gold & Minerals Inc. Advisors' Opinion:- [By Monica Wolfe]
Solitario Exploration & Royalty (XPL)
Several insiders made significant buys this week as the company�� share price continues to dwindle beneath its all-time lows. Most notably, President and CEO Christopher Herald bought 400,000 shares. He purchased these shares at $0.84 per share for a total transaction amount of $336,000. Since this buy, the share price has increased approximately 11.9%.
Top 5 Healthcare Equipment Stocks To Own Right Now: Marine Products Corp (MPX)
Marine Products Corporation (Marine Products), incorporated on August 31, 2000, designs, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, sport yacht and sport fishing markets. The Company sells its products to a network of 135 domestic and 69 international independent authorized dealers. The Company focuses to remain a manufacturer of recreational powerboats for sale to a range of consumers globally. The Company manufactures Chaparral sterndrive and inboard-powered pleasure boats including H2O Sport and Fish & Ski boats, SSi and SSX Sportboats, Sunesta Sportdecks and Xtreme Tow boats, Signature Cruisers, Premiere Sport Yachts and Robalo outboard sport fishing boats. The Company offers a range of products to the family recreational, cruiser and sport yacht markets through its Chaparral brand, and to the sport fishing market through its Robalo brand.
The Company's products include Chaparral - H2O Sport Series, which is a fiberglass multipurpose runabouts; Chaparral - SSi Wide tech, which is a fiberglass closed deck runabouts; Chaparral - SSX Sportdecks, which is a fiberglass bowrider crossover sportboats; Chaparral - Sunesta Xtreme Tow Boats, which is a fiberglass pleasure boats; Chaparral - Signature Cruisers, which is a fiberglass, accommodation-focused cruisers; Chaparral - Premiere Sport Yacht, which is a fiberglass sport yacht, and Robalo - Sport Fishing Boats, which is a sport fishing boats for freshwater lakes or saltwater use. Domestic sales are made through approximately 74 Chaparral dealers, 16 Robalo dealers and 45 dealers that sell both brands located in markets throughout the United States. Marine Products also has 69 international dealers.
The Company competes with Sea Hunt, Sea Fox, Grady-White, Boston Whaler, Everglades and Parker.
Advisors' Opinion:- [By Sean Williams]
Sink or swim
Sometimes the best short-sale opportunities are small, under-the-radar companies. One that I feel fits the bill perfectly is fiberglass boat maker Marine Products (NYSE: MPX ) . - [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Marine Products (NYSE: MPX ) , whose recent revenue and earnings are plotted below.
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