Archive for 'Stock Offering'

New S&P 500 Index Options Product Begins Trading

CBOE Holdings, Inc. (NASDAQ: CBOE) announced today that it will begin trading SPXpm, its new S&P 500 Index options product, on Tuesday, October 4.  SPXpm options will be traded on the Company’s all-electronic C2 Options Exchange (C2).

C2’s SPXpm product is a cash-settled index option based on the S&P 500 Index, the premier benchmark of the broader U.S. market.  SPXpm is similar in structure to the Chicago Board Options Exchange’s (CBOE) flagship S&P 500 SPX contract, the most-actively-traded U.S. index option product, except it has “p.m.” settlement.

“We are pleased to announce a launch date for what we believe will be another major product for CBOE Holdings,” said CBOE Holdings Chairman and Chief Executive Officer William J. Brodsky.  “In designing an electronic compliment to our flagship SPX option, we worked closely with customers to create the “best in class” among electronically traded S&P 500 products. The result is a product tailored to provide point-and-click access to the S&P 500 Index, with greater efficiency, greater control and lower costs.”

One SPXpm option contract is ten times larger than one SPDR ETF options contract (SPY), significantly lowering the cost of accessing a p.m.-settled S&P 500 contract.  The new contract also features the ease of cash settlement, as opposed to physical settlement in ETF options.  Finally, SPXpm uses European exercise, which eliminates the risk of early assignment.

SPXpm should appeal to a diverse group of customers including active traders, high-net-worth investors, retail online users and high frequency traders.  OTC participants may use SPXpm as an exchange-traded alternative that eliminates counterparty risk.

With SPXpm’s launch on C2, trading alongside SPX on CBOE, customers will have two very deep pools of liquidity in which to trade S&P 500 cash index options – one that favors the convenience of screen trading, and one that provides the flexibility afforded by floor trading to negotiate large, complex orders.

SPXpm Contract Specifications:
Symbol SPXpm
Settlement PM-settled, European style exercise
Multiplier $100
Premium Quote Stated in decimals. One point equals $100. Minimum tick for options trading below 3.00 is 0.05 ($5.00) and for all other series, 0.10 ($10.00).
Strike Price Intervals The minimum interval for SPXpm options shall be no less than five points.
Expiration Months Up to twelve near-term contracts.  LEAPS may also be listed.
Expiration Date Saturday following the third Friday of the expiration month.
Last Trading Day Trading in SPXpm options will ordinarily cease on the business day (usually a Friday) preceding the expiration date.
Trading Hours 8:30 a.m. to 3:15 p.m. (CT)

A complete overview of SPXpm can be found at: http://www.cboe.com/SPXpm.

CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE), C2 Options Exchange and other subsidiaries.  CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX). Other products engineered by CBOE include equity options, security index options, LEAPS options, FLEX options, and benchmark products such as the CBOE S&P 500 BuyWrite Index (BXM). CBOE’s Hybrid Trading System incorporates electronic and open-outcry trading, enabling customers to choose their trading method. CBOE’s Hybrid is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports C2 Options Exchange (C2), the CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named “Best of the Web” for options information and education.

CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.

CBOE-C

CBOE-C2

CBOE®, Chicago Board Options Exchange®, CBSX®, CBOE Stock Exchange®, CFE®, CBOEdirect®, FLEX®, Hybrid®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWrite(SM), BXM(SM), SPX(SM), CBOE Futures Exchange(SM) and The Options Institute are servicemarks of Chicago Board Options Exchange, Incorporated (CBOE).  SPXpm(SM), C2(SM), and C2 Options Exchange(SM) are service marks of C2 Options Exchange, Incorporated (C2).  Standard & Poor’s®, S&P®, S&P 500® and SPDR® are registered trademarks of Standard & Poor’s Financial Services, LLC and have been licensed for use by CBOE and C2.  SPXpm is not sponsored, endorsed, sold or promoted by Standard & Poor’s, and Standard & Poor’s makes no representation regarding the advisability of investing in SPXpm.

This press release may contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are those statements that reflect our expectations, assumptions or projections about the future and involve a number of risks and uncertainties.  These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause actual results to differ materially from that expressed or implied by the forward-looking statements, including: legislative or regulatory changes; changes in law or government policy; increasing competition; loss of our exclusive licenses; decrease in trading volumes; an inability to introduce competitive new products and services; competitive pressures on our existing products, services and trading access fees; changes in price levels and volatility in the derivatives and equity markets; economic, political and market conditions; increases in our fixed costs and expenses; loss of existing customers; difficulty developing strategic relationships and attracting new customers; increased costs related to, or the loss of, intellectual property; rapid technological developments; increases in trading volume and order transaction traffic that we cannot accommodate; our ability to maintain our growth effectively; damage to our reputation and brand name; loss of market data revenue; detrimental changes to our fee structure; failure to effectively monitor and manage our risks; customer consolidation; and changes to the tax treatment for options trading.

More detailed information about factors that may affect our performance may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2010 and other filings made from time to time with the SEC.

http://www.cboe.com

The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine today announced Thoratec Corporation (NDQ: THOR) as its October 2011 “Stock to Study” and Praxair, Inc. (NYSE: PX) as its October 2011 “Undervalued Stock” for investors’ informational and educational use.

“The committee chose Thoratec because of its historical high growth, strong current fundamentals and continued opportunities for its medical devices for circulatory support,” said Adam Ritt, editor of BetterInvesting Magazine. “For the Undervalued selection, the committee cited Praxair’s attractive business model, which relies on long-term contracts with its industrial-gas customers, and opportunities in emerging markets.” Check BetterInvesting Magazine’s October issue for more details about these selections.

Committee members are Robert M. Bilkie, Jr., CFA; Daniel J. Boyle, CFA; Philip S. Dano, CFA; Donald E. Danko, CFA; Maury Elvekrog, CFA; Walter J. Kirchberger, CFA; Marisa Lenhard, CFA; and Paul McVey, CFA.

As stated, the BetterInvesting committee’s Stock to Study and Undervalued Stock choices are for the informational and educational uses of investors and are not intended as investment recommendations. BetterInvesting urges investors to educate themselves about the stock market so they can make informed decisions about stock purchases. For more information about investment education tools available to individual investors and investment clubs visit www.betterinvesting.org.

BetterInvesting Magazine is published monthly by BetterInvesting.
BetterInvesting is the brand identity of the National Association of Investors Corporation, a national, nonprofit association with members consisting of individual investors and investment clubs. Founded in 1951 and with headquarters in Madison Heights, Mich., BetterInvesting is considered the voice of the individual investor, as well as the pioneer of the modern investment club movement. BetterInvesting is dedicated to providing a sound program of investment education and information to help its members become successful long-term, lifetime investors. For more information about BetterInvesting, visit its website at www.betterinvesting.org or call toll free (877) 275-6242. For additional BetterInvesting data and news releases, visit the Media Center at www.betterinvesting.org/mediacenter.

http://www.betterinvesting.org

Zacks Releases Strong Sell List

Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List – Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): Ameron International Corporation (NYSE: AMN) and Watsco, Incorporated (NYSE: WSO). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: Regeneron Pharmaceuticals, Inc. (Nasdaq: REGN) and Amedisys, Inc. (Nasdaq: AMED).

To see the full Zacks #5 Rank List – Stocks to Sell Now visit: http://at.zacks.com/?id=92

Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List of Stocks to Sell Now by 80% annually (+2% vs. +10%). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.

Here is a synopsis of why AMN and WSO have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:

Ameron International Corporation (NYSE: AMN) announced second-quarter profit of 11 cents per share on July 8 that missed analysts’ expectations by 81.7%. The Zacks Consensus Estimate for the current year slipped to $1.40 per share from $1.95 per share in the last 30 days as next year’s estimate dipped 9 cents per share to $3.45 per share in that time span.

Watsco, Incorporated (NYSE: WSO) posted a second-quarter profit of $1.09 per share on July 26, which came in 21 cents wider than the average forecast. The Zacks Consensus Estimate for the full year fell to $2.91 per share from $3.20 per share over the past month. For 2012, analysts expect a profit of $3.59 per share, compared to last month’s projection for a profit of $3.96 per share.

Here is a synopsis of why REGN and AMED have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks;

Regeneron Pharmaceuticals, Inc. (Nasdaq: REGN) second-quarter loss of 69 cents per share, posted on July 28, lagged analysts’ projections by 68.29%. Estimate for current year slid 45 cent per share to a loss of $2.33 per share over the past month as next year’s estimate dipped 35 cents per share to a loss of $1.30 per share in that time span.

Amedisys, Inc. (Nasdaq: AMED) reported a second-quarter profit of 67 cents per share on August 2 that fell 2.90% short of the Zacks Consensus Estimate. The full-year average forecast is currently $2.30 per share, compared with last month’s projection of $3 per share. Next year’s forecast dropped to $2.93 per share from $3.09 per share in the same period.

Truly taking advantage of the Zacks Rank requires the understanding of how it works.  The free special report; “Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions” is available to provide this insightful background. Download a free copy now to prosper in the years to come at http://at.zacks.com/?id=93

About the Zacks Rank

Since 1988, the Zacks Rank has proven that “Earnings estimate revisions are the most powerful force impacting stock prices.” Since inception in 1988, #1 Rank Stocks have generated an average annual return of +28%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (2.8% versus +9.7%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Zacks “Profit from the Pros” e-mail newsletter offers continuous coverage of Zacks Rank Buy stocks and highlights those stocks poised to outperform the market. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=94

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Len Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros.  In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=95

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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Disclaimer:  Past performance does not guarantee future results.  Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
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Gold Prices Rise on Russian Gold Purchase


The price of gold is expected to increase $6 to $10 a day until an agreement is reached by the House of Representatives according to Regal Assets. While most investors remain optimistic that there will be a deal reached by the deadline, the topic is causing other areas of the US economy to be exposed such as state debt and bank closures.

According to the FDIC three banks were closed on Friday by the regulators taking the count of U.S. bank closures in 2011 to 58 averaging about 8 per month. The 157 bank closures in 2010 was up from 140 in 2009, and more than six times of the 25 bank failures in 2008. Only three banks failed in 2007.

The stress of US local debt to the national debt has international investors demanding gold bullion over the US dollar. The Central Banks of the Russian Federation keep about 50 percent of its reserves in United States dollars released its official international reserves statement showing a net accumulation of more than 200,000 ounces of gold.

Tyler Gallagher of Regal Assets says “Russia’s gold behavior is grounded in the country’s hard-learned lessons about commodity markets”. Since its financial crisis in 1998, Russia has enacted policies intended to counterbalance the historical cycles of commodity prices to protect the economy during downturns. China, which is facing high inflation, has a 10-year gold buying plan for its central banks.

Regal Assets is encouraging American investors to keep pace with global investment strategies. Regal offers gold in 1 oz gold bars or gold bullion coins that are internationally recognized. Americans can buy gold and silver online and have it shipped direct to their home for physical delivery by calling 1-877-962-1133 or online http://www.RegalGoldCoins.com

 


Zacks Equity Research highlights El Paso Corporation (NYSE: EP) as the Bull of the Day and The Goldman Sachs Group Inc. (NYSE: GS) as the Bear of the Day. In addition, Zacks Equity Research provides analysis Skyworks Solutions, Inc. (Nasdaq: SWKS), Verizon (NYSE: VZ) and AT&T (NYSE: T).

Full analysis of all these stocks is available at http://at.zacks.com/?id=2678.

Here is a synopsis of all five stocks:

Bull of the Day:

El Paso Corporation’s (NYSE: EP) high-grade E&P assets and large inventory of pipeline projects offer significant value in the long run. The company benefits from hedging a substantial portion of its future production, which offers operating clarity and cash-flow visibility even when energy prices remain volatile.

We believe the competence of management and the company’s access to financing will enable successful execution of El Paso’s industry-leading pipeline backlog going forward. We upgrade our recommendation for EP shares to Outperform based on the company’s announcement to split its business into two strong stand-alone entities, as well as its raised 2011 guidance.

We believe the separation will enable further balance sheet improvement and greater operational transparency for the new company. El Paso possesses a Zacks #1 Rank, indicating a Strong Buy.

Bear of the Day:

The Goldman Sachs Group Inc. (NYSE: GS) reported second quarter 2011 earnings per share of $1.85, significantly below the Zacks Consensus Estimate of $2.29 per share. Coupled with global macroeconomic concerns, the results deteriorated driven by a decrease in revenue and poor performance in the Institutional Client Services division.

Further, the Investing and Lending division also recorded lower revenues. After reviewing the results, we are maintaining our Underperform recommendation on the shares.

Our six-month price target of $117.00 equates to about 9.3x our earnings estimate for 2011. Combined with the $0.35 per share dividend, the price target implies an expected negative total return of 8.4% over that period, which is consistent with our Underperform recommendation.

Latest Posts on the Zacks Analyst Blog:

Skyworks Beats Expectations

Skyworks Solutions, Inc. (Nasdaq: SWKS) reported revenues of $356.1 million, which surpassed management’s guidance of $345 million. The reported figure includes $6.5 million of revenue from the acquisition of SiGe semiconductor (which closed on June 10, 2011).

Excluding the SiGe contribution, revenue would’ve been $350 million, up 27% year-over-year organically.

Skyworks posted a net income of $51.5 million or $0.27 per diluted share compared to a net income of $34.7 million or $0.19 per diluted share in the year-ago quarter. Excluding acquisition-related charges but including stock-based compensation expense, Skyworks reported a net income of $0.41 per share, beating the Zacks Consensus Estimate by a penny.

Guidance

Going forward, Skyworks projects revenues of $400 million, with a $20 million – $25 million from the SiGe acquisition. Gross margin is expected around 44.6% – 45.0%.  Excluding stock-based compensation expenses and restructuring charges, EPS is expected at $0.53.

Skyworks continues to benefit from strong underlying demand in the mobile Internet market driven by market share gains and new product ramps. Broadband mobile subscriptions continue to grow in leaps and bounds.

The advent of cloud computing is expected to take the trend further with the ever-growing need for wireless connectivity. The products from Skyworks support all smartphone and tablet operating systems, including Android, Symbian, Windows Mobile and others.

Skyworks continues to gain traction on the network infrastructure side of the mobile Internet connection as operators install new base stations, new routers, and back-haul equipment to expand coverage of data services and prepare for next generation LTE deployments.

As carriers like Verizon (NYSE: VZ) and AT&T (NYSE: T) accelerate their LTE plans, Skyworks expects a solid opportunity for growth in the coming years with its broad product portfolio.

Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.

About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

About the Analyst Blog

Updated throughout every trading day, the Analyst Blog provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous analyst coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks “Profit from the Pros” e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=7158.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment

Research is through our free daily email newsletter; Profit from the Pros. In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=4582.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Follow us on Twitter:  http://twitter.com/zacksresearch

Join us on Facebook:  http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
http://www.zacks.com
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PG&E Corporation (NYSE: PCG) is recommending that shareholders reject an unsolicited “mini-tender offer” by TRC Capital Corporation (TRC) to purchase less than 0.628 percent (up to 2.5 million shares) of the outstanding PG&E Corporation common stock at a below-market price of $40.25 per share. According to an advisory by the U.S. Securities and Exchange Commission (SEC): “‘Mini-tender’ offers – tender offers for less than five percent of a company’s stock – have been increasingly used to catch investors off guard. Many investors who hear about mini-tender offers surrender their securities without investigating the offer, assuming that the price offered includes the premium usually present in larger, traditional tender offers.” The SEC’s advisory is available at www.sec.gov/investor/pubs/minitend.htm.

As stated in TRC’s offer documentation, the offer price is 3.96 percent less than the closing price on the New York Stock Exchange (NYSE) on July 19, 2011, the day before the offer was made.  Mini-tender offers, such as this one by TRC, do not give investors the same level of protection afforded by tender offers for at least 5% of a company’s outstanding shares. For example, in making this offer, TRC is not required to file disclosure and other offer documents with the SEC or adhere to additional procedures mandated by U.S. securities laws.

PG&E Corporation does not endorse TRC’s unsolicited mini-tender offer and recommends that shareholders not tender their shares in response. PG&E Corporation is not associated with TRC, this mini-tender offer or the offer documentation.  PG&E Corporation urges investors to obtain current market quotes for their shares of common stock.

PG&E Corporation encourages stockbrokers and dealers as well as other market participants to review the SEC’s and the NYSE’s recommendations on mini-tender offers. These recommendations are available at www.sec.gov/divisions/marketreg/minitenders/sia072401.htm and in the Information Memo Number 01-27, issued by the NYSE on Sept. 28, 2001, which can be found under the “Regulation — NYSE — Rules & Interpretations — Information Memos” tab at www.nyse.com.

PG&E Corporation shareholders who have already tendered shares in the offer are advised that they may withdraw their shares as described in TRC’s offer documentation before the expiration of the offer, which is currently scheduled for 12:01 a.m., New York City time, on Thursday, August 18, 2011.

About PG&E Corporation

PG&E Corporation (NYSE: PCG) is a Fortune 200 energy-based holding company, headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, California’s largest investor-owned utility. PG&E serves more than 15 million Californians throughout a 70,000 square-mile service area in northern and central California. For more information, visit the Web site at http://www.pgecorp.com.

http://www.pgecorp.com

Zacks Enters Long Term Partnership With WRDS

The Wharton School of the University of Pennsylvania and Zacks Investment Research, Inc. a leading provider of research, historical market data and workflow solutions announced today that Wharton Research Data Services (WRDS) will now carry the Zacks data on its platform. The select datasets consist of earnings, sales estimates and surprises, pre-announcements, analyst ratings, and target prices for all listed and non-listed issues. WRDS is the leading, comprehensive, internet-based data research service used by academic, government, and corporate firms.  The Zacks database will be hosted on the powerful WRDS Cloud, optimized to effectively meet research needs for the extraction and analysis of financial and economic data.

“Zacks is proud and honored to commence this long-term partnership with WRDS,” said Ausra Di Raimondo, EVP of Academic/Non-Profit data services at Zacks. “This type of data plays a critical role in in-depth academic equity trading research and corporate analytics and back-testing strategies. We are excited to be recognized by WRDS as a valuable data partner in fulfilling its mission to continue to be the leading business intelligence tool for a global research community.”

Robert Zarazowski, WRDS Senior Director, added, “”WRDS is delighted to announce this partnership with Zacks Investment Research. Their data enhances the depth and breadth of analyst databases available through WRDS, and allows us to complement our existing products to meet the needs of academic researchers and commercial clients. The value of Zacks data have been proven over the years, as research work using Zacks’ data have been published in both premier academic journals and widely circulated practitioner oriented publications.”

About WRDS

Wharton Research Data Services (WRDS) is the leading, comprehensive, internet-based data research service used by academic, government, non-profit institutions, and corporate firms. WRDS provides the user with one location to access over 200 terabytes of data across multiple disciplines including Finance, Marketing, and Economics. WRDS provides flexible data delivery options including a powerful web query method that reduces research time.  WRDS provides flexible data delivery options including a simple but powerful web query method, and provides Researchers with the ability to reduce their research time and execute strategy development on the powerful WRDS Cloud.  Developed in 1993 to support faculty research at The Wharton School of the University of Pennsylvania, WRDS has since evolved to become the standard tool for a global research community of 30,000 users at over 300 institutions in 27 countries. http://wrds.wharton.upenn.edu

About The Wharton School

The Wharton School of the University of Pennsylvania — founded in 1881 as the first collegiate business school — is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The School has 5,000 undergraduate, MBA, executive MBA, and doctoral students; more than 9,000 annual participants in executive education programs; and an alumni network of 88,000 graduates.

About Zacks

Zacks Investment Research, based in Chicago, Ill., has been a leading provider of research, market data, and quantitative models to institutional investment management firms in the US and Canada for over 30 years. Recognized for quality, consistency and reliability, Zacks provides institutional and individual investors with the analytical tools and financial information necessary to the success of their investment process. Founded in 1978, Zacks’ early contribution to investment analysis was the discovery that earnings per share estimate revisions are the most powerful force affecting stock prices. This discovery is built into the Zacks Rank proprietary methodology for predicting stock price performance. The Zacks Rank has produced average annual returns in excess of 28% since 1988. The premier source of analysts’ earnings forecasts, today Zacks produces data feeds for estimates, ratings, earnings report data, fundamental data, and institutional holdings for US and Canadian traded equities, as well as investment research reports and research software tools for investors. For more Zacks expertise, look for Dr. Zacks “The Handbook of Equity Market Anomalies: Translating Market Inefficiencies into Effective Investment Strategies” which will be in bookstores on October 4th, 2011. To learn more about performance information, please go to http://www.zacks.com/performance/.

Wharton Research Data Services (WRDS) Contact:
Robin Gold – 877-438-9737, wrds@wharton.upenn.edu

Zacks Contact:
Ausra Di Raimondo – (312) 265-9214, adiraimondo@zacks.com

http://www.zacks.com

Walt Disney Company (NYSE: DIS) Gets Top Stock Pick

Walt Disney Company (NYSE: DIS) Gets Top Stock Pick-Image via CrunchBase

Walt Disney Company (NYSE: DIS) ($39) has been picked by Standard & Poor’s Equity Research as its Focus Stock of the Week.  DIS carries S&P’s highest investment recommendation of 5-STARS, or Strong Buy.

“Our investment opinion reflects expectations that the company will be a major beneficiary of a continued macroeconomic rebound, as well as improving business fundamentals across virtually all of its globally diversified core businesses,” said Tuna Amobi, Media & Entertainment Equity Analyst at Standard & Poor’s Equity Research.  “Over the years, we believe Disney has refined an innovative strategy, predicated on a virtuous cycle of content creation that has spawned a veritable stable of franchises such as Mickey Mouse, Disney Princess, Toy Story, Pirates of the Caribbean, Cars and others for repeatable exploitation across multiple platforms.”

Amobi believes that Disney has remained at the forefront of embracing newer digital outlets, while fomenting further shifts in traditional distribution windows through increased content exploitation across emerging platforms, and credits a strong management team led by CEO Robert Iger.  Also reflecting Disney’s strategic priorities, Amobi says concerted efforts are underway to leverage continued advancements in digital technology, and to sustain an expansion into higher-growth international territories across emerging markets such as China, India, Russia, and Latin America.

To view a video of Mr. Amobi discussing DIS, paste the following link into your browser.

http://link.delvenetworks.com/media/?mediaId=d8bf809373f54f58910c9d4e1f141f47&width=480&height=411&playerForm=DelvePlayer&autoplay=true

About Standard & Poor’s Equity Research Services

As one of the world’s largest producers of independent equity research, Standard & Poor’s licenses its research to global institutions for their investors and advisors.  Standard & Poor’s team of experienced U.S., European and Asian equity analysts use a fundamental, bottom-up approach to assess a global universe of equities across industries worldwide.  Follow Standard & Poor’s equity analysts’ U.S. market commentary each day at http://www.equityresearch.standardandpoors.com/.

Standard & Poor’s keeps certain activities of its business units separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain business units of Standard & Poor’s may have information that is not available to other Standard & Poor’s business units. Standard & Poor’s has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process. Standard & Poor’s does not trade for its own account.  The analytical and ethical conduct of Standard & Poor’s equity analysts is governed by the firm’s Research Objectivity Policy, a copy of which may be found at www.standardandpoors.com.

For more information contact:

Marc Eiger, Communications, Tel.: 212-438-1280
marc_eiger@standardandpoors.com

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Capital One (NYSE: COF) Puts Up 40 Million Shares

Capital One (NYSE: COF) Puts Up 40 Million Shares-Image by Robert Scoble via Flickr

Capital One Financial Corporation (NYSE: COF) today announced that it has priced a public offering of 40 million shares of its common stock at a per share price of $50.00, which will be subject to the forward sale agreements described below. Barclays Capital, Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are acting as book-running managers for the offering. Capital One also has granted the underwriters a 30-day option to purchase an additional 6 million shares of common stock from Capital One at the same price to cover any over-allotments. Any shares purchased pursuant to the underwriters’ option to purchase additional shares are not subject to the forward sale agreements. The offering is expected to close on July 19, 2011, subject to customary closing conditions. Capital One intends to use the net proceeds received upon settlement of the forward sale agreements and any exercise of the over-allotment option to fund a portion of its previously announced acquisition of ING Direct.

In connection with the offering of its common stock, Capital One entered into forward sale agreements with Barclays Capital and Morgan Stanley, whom we refer to as the forward purchasers. The forward purchasers or their affiliates have agreed to borrow and sell to the public, through the underwriters, shares of Capital One’s common stock. The settlement of the forward sale agreements is expected to occur no later than approximately seven months following the date of the common stock offering. Capital One expects to settle the forward sale agreements entirely by the physical delivery of shares of its common stock unless, subject to certain conditions, it elects cash or net share settlement for all or a portion of its obligations under the forward sale agreements.

The public offering is being made pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the prospectus supplement and the base prospectus relating to these securities may be obtained from (i) Barclays Capital Inc. by calling 1-888-603-5847, by mail at Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by e-mail, at Barclaysprospectus@broadridge.com, or (ii) Morgan Stanley & Co. LLC, by calling 1-866-718-1649, by mail at Morgan Stanley Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Dept., or by e-mail at prospectus@morganstanley.com, Telephone: (866) 718-1649.

This press release is neither an offer to sell nor a solicitation of an offer to buy any of the common stock or any other security of Capital One, nor shall there be any sale of the common stock in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Forward-looking statements

The company cautions that its current expectations in this release dated July 13, 2011, and the company’s plans, objectives, expectations, and intentions, are forward-looking statements which speak only as of the date hereof. The company does not undertake any obligation to update or revise any of the information contained herein whether as a result of new information, future events or otherwise. Actual results could differ materially from current expectations due to a number of factors, including, but not limited to: general economic conditions in the U.S., the U.K., Canada or the company’s local markets, including conditions affecting consumer income, confidence, spending, and savings which may affect consumer bankruptcies, defaults, charge-offs, deposit activity, and interest rates; financial, legal, regulatory, tax or accounting changes or actions, including the impact of the Dodd-Frank Act and the regulations promulgated thereunder; developments, changes or actions relating to any litigation matter involving the company; increases or decreases in interest rates; the success of the company’s marketing efforts in attracting or retaining customers; changes in the credit environment; increases or decreases in the company’s aggregate loan balances or the number of customers and the growth rate and composition thereof; the level of future repurchase or indemnification requests the company may receive, the actual future performance of mortgage loans relating to such requests, the success rates of claimants against the company, any developments in litigation and the actual recoveries the company may make on any collateral relating to claims against it; changes in the reputation of or expectations regarding the financial services industry or the company with respect to practices, products, or financial condition; any significant disruption in the company’s operations or technology platform; the company’s ability to execute on its strategic and operational plans; changes in the labor and employment market; competition from providers of products and services that compete with the company’s businesses; the possibility that regulatory and other approvals and conditions to the ING Direct acquisition are not received or satisfied on a timely basis or at all; the possibility that modifications to the terms of the ING Direct acquisition may be required in order to obtain or satisfy such approvals or conditions; changes in the anticipated timing for closing the ING Direct acquisition; difficulties and delays in integrating the company’s and ING Direct’s businesses or fully realizing projected cost savings and other projected benefits of the ING Direct acquisition; business disruption during the pendency of or following the ING Direct acquisition; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; diversion of management time on issues related to the ING Direct acquisition; and changes in asset quality and credit risk as a result of the ING Direct acquisition. A discussion of these and other factors can be found in the company’s annual report and other reports filed with the Securities and Exchange Commission, including, but not limited to, the company’s report on Form 10-K for the fiscal year ended December 31, 2010.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A. and Capital One Bank (USA), N.A., had $126.1 billion in deposits and      $199.8 billion in total assets outstanding as of June 30, 2011. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.

http://www.capitalone.com

Azteca Acquisition Corporation (the “Company”)(OTCBB: AZTAU) announced today that it has closed its initial public offering for gross proceeds of $100,000,000. The Company sold 10,000,000 units at a price of $10.00 per unit. Each unit issued in the initial public offering consisted of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $12.00 per share. In addition the Company has granted the underwriter a 45 day over-allotment option to purchase up to an additional 1,500,000 units.

The Company is a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business.

Initially, the units will be the only security trading. The Company’s units began trading on the Over-the-Counter Bulletin Board quotation system under the ticker symbol “AZTAU” on June 30, 2011. The common stock and warrants comprising the units will begin separate trading on August 22, 2011 (or such earlier date as the underwriter may permit), subject to the Company’s filing a Current Report on Form 8-K with the Securities and Exchange Commission containing an audited balance sheet reflecting its receipt of the gross proceeds of the offering and issuing a press release announcing when such separate trading will begin.

The Company has deposited $100,500,000 (including $3,500,000 from a private placement of 4,666,667 warrants to the Company’s sponsor), or approximately $10.05 per share, into a trust account maintained by Continental Stock Transfer & Trust Company acting as the trustee. The funds will not be released from the trust account except under certain limited circumstances as described in the prospectus relating to the offering.

Deutsche Bank Securities Inc. acted as sole book-running manager of the offering.

A registration statement relating to these units and the underlying securities was declared effective by the Securities and Exchange Commission on June 29, 2011. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.  Copies of the final prospectus relating to the offering can be obtained from the U.S. Securities and Exchange Commission website at http://www.sec.gov. Alternatively, a copy of the prospectus related to this offering may be obtained from Deutsche Bank Securities Inc., 100 Plaza One, Jersey City, NJ 07311 (Attn: Prospectus Department), (800) 503-4611, or email:  prospectus.cpdg@db.com.

Company Contact:

Gabriel Brener
Chief Executive Officer
(310) 553-7009

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