NEW YORK (TheStreet) -- Midwest regional Bank stocks on Friday had a very strong showing, as investors cheered stronger-than-expected November employment numbers.
The Dow Jones Industrial Average was up 1.3%, while the S&P 500 added 1.1% and the NASDAQ Composite rose 0.7% after the Department of Labor announced that the U.S. unemployment rate for November improved to 7.0% from 7.3% in October. Economists polled by Reuters on average had estimated the unemployment rate would only improve slightly, to 7.2%.
The Labor Department also said the U.S. economy had added 203,000 nonfarm jobs during November, coming in ahead of the consensus estimate of 182,000.
The November unemployment rate is the lowest in five years. Here's the unemployment picture over the last decade:
The Labor Department also revised revised previous nonfarm job-growth numbers upward, to 174,000 from 153,000 for September and to 204,000 from 200,000 for October.
The KBW Bank Index (I:BKX) rose 1.4% to 67.41, with all 24 index component showing gains. U.S. Bancorp (USB) of Minneapolis was the leader among large-cap banks, with shares rising 2.7% to close at $39.65. Other major Midwest players showing strong gains included Fifth Third Bancorp (FITB) of Cincinnati, which was up 2.6% to $20.34, and Huntington Bancshares (HBAN) of Columbus, Ohio, which rose 2.6% to $9.24.
All eyes this week were on the Friday unemployment figure, however, there's been plenty of other good news this week. The Bureau of Economic Statistics on Thursday made a major upward revision of its estimate for third-quarter U.S. gross domestic product growth to an annual rate of 3.6% from the previous estimate of 2.8%.
10 Best Healthcare Equipment Stocks For 2015: InSite Vision Inc (INSV)
InSite Vision Incorporated (InSite), incorporated in 1986, is an ophthalmic product development company advancing ophthalmic pharmaceutical products to address unmet eye care needs. The Company's current portfolio of products is based on the Company's DuraSite sustained drug delivery technology. Its DuraSite sustained drug delivery technology is a synthetic polymer-based formulation designed to extend the residence time of a drug relative to conventional topical therapies. It enables topical delivery of a drug as a solution, gel or suspension and can be customized for delivering a wide variety of drug candidates. The Company is focused its research and development and commercial support efforts on the topical products formulated with its DuraSite drug delivery technology. It may also utilize its DuraSite technology platform for the formulation of new ocular product candidates using either non drugs or compounds developed by others for non-ophthalmic indications.
AzaSite (azithromycin ophthalmic solution) 1% is a DuraSite formulation of azithromycin developed as a spectrum ocular antibiotic and approved by the United States Food and Drug Administration (FDA) to treat bacterial conjunctivitis (pink eye). Azithromycin has a spectrum of antibiotic activity and is used to treat respiratory and other infections in its oral and parenteral forms.
Besivance (besifloxacin ophthalmic suspension) 0.6% is a DuraSite formulation of besifloxacin, a spectrum ocular antibiotic approved by the FDA to treat bacterial conjunctivitis (pink eye). Besivance is the fluoroquinolone specifically developed for ophthalmic use. AzaSite Plus (ISV-502) is a fixed combination of azithromycin and dexamethasone in DuraSite for the treatment of ocular inflammation and infection (blepharitis and/or blepharoconjunctivitis).
DexaSite (ISV-305) is a DuraSite formulation of dexamethasone in development for the treatment of ocular inflammation. DexaSite is included in the Phase 3 clinical trial SPA for ! AzaSite Plus. The Company developed a topical formulation of the corticosteroid dexamethasone to treat eye inflammation caused by infections, injury, surgery or other conditions.
BromSite (ISV-303) is a DuraSite formulation of bromfenac in development for the treatment of post-operative inflammation and eye pain. ISV-101 is a DuraSite formulation with a low concentration of bromfenac for the treatment of dry eye disease.
The Company competes with Alcon Laboratories, Inc., Allergan, Inc., Bausch & Lomb, Novartis Ophthalmics, Johnson & Johnson, Merck & Co. and Pfizer.
Advisors' Opinion:- [By CRWE]
Today, INSV has shed (-2.74%) down -0.009 at $.320 with 15,483 shares in play thus far (ref. google finance Delayed: 10:59AM EDT June 28, 2013), but don�� let this get you down.
InSite Vision Incorporated previously reported the company has regained North American development rights to azithromycin ophthalmic solution 2%, trademarked as AzaSite Xtra�� from Inspire Pharmaceuticals Inc., a subsidiary of Merck & Co., Inc., known as MSD outside the United States and Canada. AzaSite Xtra, formulated in InSite�� DuraSite庐 topical drug delivery system, is a product candidate intended for the topical treatment of ocular infections.
- [By CRWE]
Today, INSV surged (+2.77%) up +0.009 at $.334 with 24,100 shares in play thus far (ref. google finance Delayed: 11:27AM EDT July 8, 2013).
InSite Vision Incorporated previously reported it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) on its DuraSite庐 2 next-generation enhanced drug delivery system. DuraSite 2 provides a broad platform for developing topically delivered ocular drugs with enhanced tissue penetration in order to improve efficacy and dosing convenience. The patent is expected to provide protection to 2029 for both the delivery system and the drugs that are formulated with DuraSite 2.
Top 5 Regional Bank Stocks To Buy For 2014: First Horizon National Corp (FHN)
First Horizon National Corporation (FHN), incorporated in 1968, is a bank holding company. The Company provides financial services through its subsidiary, First Tennessee Bank National Association (the Bank), and its subsidiaries. The Company�� two brands First Tennessee and FTN Financial provide customers with a range of products and services. First Tennessee provides retail and commercial banking services throughout Tennessee. FTN Financial (FTNF) is engaged in fixed income sales, trading, and strategies for institutional clients in the United States and abroad. FHN has four operating business segments: regional banking, capital markets, corporate, and non-strategic. As of December 31, 2011, the Bank had $16.4 billion in total deposits and $16 billion in total net loans. As of December 31, 2011, the Company�� subsidiaries had over 200 business locations in 17 the United States states, Hong Kong, and Tokyo, excluding off-premises automated teller machines (ATMs). As of December 31, 2011, the Bank had 183 branch locations in four states, which include 172 branches in metropolitan areas of Tennessee; two branches in northwestern Georgia; seven branches in northwestern Mississippi, and two branches in North Carolina. As of December 31, 2011, FTN Financial products and services were offered through 18 offices in total, including 16 offices in 14 states plus an office in each of Hong Kong and Tokyo.
The regional banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and surrounding markets. Regional banking provides investments, financial planning, trust services and asset management, credit card, cash management, and first lien mortgage originations within the Tennessee footprint. In addition, the regional banking segment includes correspondent banking, which provides credit, depository, and other banking related services to other financial institutions.
The capital markets se! gment consists of fixed income sales, trading, and strategies for institutional clients in the United States and abroad, as well as loan sales, portfolio advisory, and derivative sales. The corporate segment consists of gains on the extinguishment of debt, unallocated corporate expenses, expense on subordinated debt issuances and preferred stock, bank-owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, low income housing investment activities, and charges related to restructuring, repositioning, and efficiency. The non-strategic segment consists of the wind-down national consumer lending activities, legacy mortgage banking elements, including servicing fees, and the associated ancillary revenues and expenses related to these businesses. Non-strategic also includes the wind-down trust preferred loan portfolio and exited businesses along with the associated restructuring, repositioning, and efficiency charges.
As of December 31, 2011, the Company provided services through its subsidiaries, which include general banking services for consumers, businesses, financial institutions, and governments; through FTN Financial fixed income sales and trading, underwriting of bank, loan sales, advisory services and derivative sales; discount brokerage and full-service brokerage; correspondent banking; transaction processing, such as nationwide check clearing services and remittance processing; trust, fiduciary, and agency services; credit card products; equipment finance; investment and financial advisory services; mutual fund sales as agent; retail insurance sales as agent, and mortgage banking services.
As of December 31, 2011, the commercial, financial, and industrial (C&I) portfolio was eight billion dollars, and is consisted of loans used for general business purposes, and consisted of relationship customers in Tennessee and certain n! eighborin! g states, which are managed within the regional bank. Products include working capital lines of credit, term loan financing of owner-occupied real estate and fixed assets, and trade credit enhancement through letters of credit. As of December 31, 2011, the unpaid principal balance (UPB) of trust preferred loans totaled $447.2 million with the UPB of other bank-related loans totaling approximately $161.8 million. The commercial real estate portfolio includes both financings for commercial construction and non-construction loans. This portfolio is segregated between income commercial real estate (CRE) loans which contain loans, lines, and letters of credit to commercial real estate developers for the construction and mini- permanent financing of income-producing real estate, and residential CRE loans. The residential CRE portfolio includes loans to residential builders and developers for the purpose of constructing single-family detached homes, condominiums, and town homes. As of December 31, 2011, the residential CRE portfolio was $.1 billion. As of December 31, 2011, the consumer real estate portfolio was $5.3 billion, and is composed of home equity lines and installment loans. As of December 31, 2011, the credit card and other portfolios were $.3 billion, and primarily include credit card receivables, automobile loans, and over-the-counter (OTC) construction loans and other consumer related credits.
FHN�� investment portfolio consists of debt securities, including government agency issued mortgage-backed securities (MBS) and government agency issued collateralized mortgage obligations (CMO). During the year ended December 31, 2011, Government agency issued MBS and CMO, and other agencies averaged $2.9 billion. During 2011, the United States treasury securities and municipal bonds averaged $79.5 million. During 2011, investments in equity securities averaged $222.3 million.
During 2011, short-term funds (certificates of deposit greater than $100,000, federal funds purchased (! FFP), sec! urities sold under agreements to repurchase, trading liabilities, and other short-term borrowings) averaged $3.6 billion. During 2011, other borrowings increased to $.3 billion. Term borrowings include senior and subordinated borrowings and advances with original maturities greater than one year. During 2011, average term borrowings averaged $2.6 billion.
The Company competes with Regions Bank, SunTrust Bank, Wells Fargo Bank N.A., Bank of America N.A., and Pinnacle National Bank.
Advisors' Opinion:- [By Monica Gerson]
First Horizon National (NYSE: FHN) is estimated to report its Q3 earnings at $0.18 per share on revenue of $307.14 million.
Laboratory Corp. of America Holdings (NYSE: LH) is expected to report its Q3 earnings at $1.80 per share on revenue of $1.45 billion.
Top 5 Regional Bank Stocks To Buy For 2014: Extra Space Storage Inc (EXR)
Extra Space Storage, Inc. operates as a real estate investment trust (REIT) in the United States. It engages in property management and development activities that include acquiring, managing, developing, and selling, as well as the rental of self-storage facilities. As of December 31, 2006, Extra Space Storage owned interests in 567 properties located in 32 states and Washington, D.C., as well as managed 74 properties owned by franchisees or third parties. As a REIT, the company would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1977 and is based in Salt Lake City, Utah.
Advisors' Opinion:- [By Dividends4Life]
Below are several companies confident and secure enough in their business to increase their cash dividends:Deere & Company (DE) manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. May 28, the company increased its quarterly dividend 17.6% to $0.60 per share. The dividend is payable Aug. 1, 2014 to stockholders of record on June 30, 2014. The yield based on the new payout is 2.6%.Questar Corporation (STR) operates as an integrated natural gas company in the United States. May 23, the company increased its quarterly dividend 5.6% to $0.19 per share. The dividend is payable June 23, 2014 to stockholders of record on June 6, 2014. The yield based on the new payout is 3.2%.Extra Space Storage Inc. (EXR) operates as a real estate investment trust (REIT) in the United States. May 23, the company increased its quarterly dividend 17.5% to $0.47 per share. The dividend is payable June 30, 2014 to stockholders of record on June 13, 2014. The yield based on the new payout is 3.6%.The Williams Companies Inc. (WMB) operates as an energy infrastructure company. May 22, the company increased its quarterly dividend 6.7% to $0.xx per share. The dividend is payable June 30, 2014 to stockholders of record on June 13, 2014. The yield based on the new payout is 3.6%. Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.Full Disclosure: No position in the aforementioned securities. See a list of all my dividend growth holdings here.Related Posts - 6 Healthcare Stocks With Growing Dividends Yielding In Excess of 2% - Why We Are Dividend Growth Investors - 6 Dividend Growth Stocks With Very Little Debt - What Determines A Divid
Top 5 Regional Bank Stocks To Buy For 2014: Genuine Parts Company (GPC)
Genuine Parts Company distributes automotive replacement parts, industrial replacement parts, office products, and electrical/electronic materials in the United States, Puerto Rico, Canada, and Mexico. The company operates in four segments: Automotive Parts Group, Industrial Parts Group, Office Products Group, and Electrical/Electronic Materials Group. The Automotive Parts Group segment distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment. This segment also distributes accessory items used in the automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals. It owns and operates automotive parts distribution centers and automotive parts stores under the NAPA name. The Industrial Parts G roup segment distributes industrial replacement parts and related supplies, such as bearings, mechanical power transmission, industrial automation, hose, hydraulic and pneumatic components, industrial supplies, and material handling products. This segment serves various industries, including the food, forest products, primary metal, paper, mining, automotive, petrochemical, and pharmaceutical industries. The Office Products Group segment involves in the wholesale distribution of a line of office and other business related products that are used in the daily operation of businesses, schools, offices, and institutions. The Electrical/Electronic Materials Group segment distributes insulating and conductive materials, assembly tools, test equipment, and custom fabricated parts. This segment provides distribution services to original equipment manufacturers, motor repair shops, and assembly markets. The company was founded in 1928 and is headquartered in Atlanta, Georgia.
Advisors' Opinion:- [By Dividends4Life]
Fair Value: In calculating fair value, I consider the NPV MMA Differential Fair Value along with these four calculations of fair value, see page 2 of the linked PDF for a detailed description: 1. Avg. High Yield Price 2. 20-Year DCF Price 3. Avg. P/E Price 4. Graham Number MSFT is trading at a premium to all four valuations above. The stock is trading at a 41.4% discount to its calculated fair value of $68.12. MSFT earned a Star in this section since it is trading at a fair value.Dividend Analytical Data: In this section there are three possible Stars and three key metrics, see page 2 of the linked PDF for a detailed description: 1. Free Cash Flow Payout 2. Debt To Total Capital 3. Key Metrics 4. Dividend Growth Rate 5. Years of Div. Growth 6. Rolling 4-yr Div. > 15% MSFT earned three Stars in this section for 1.), 2.) and 3.) above. A Star was earned since the Free Cash Flow payout ratio was less than 60% and there were no negative Free Cash Flows over the last 10 years. The stock earned a Star as a result of its most recent Debt to Total Capital being less than 45%. MSFT earned a Star for having an acceptable score in at least two of the four Key Metrics measured. The company has paid a cash dividend to shareholders every year since 2003 and has increased its dividend payments for 12 consecutive years.Dividend Income vs. MMA: Why would you assume the equity risk and invest in a dividend stock if you could earn a better return in a much less risky money market account (MMA) or Treasury bond? This section compares the earning ability of this stock with a high yield MMA. Two items are considered in this section, see page 2 of the linked PDF for a detailed description: 1. NPV MMA Diff. 2. Years to > MMA MSFT earned a Star in this section for its NPV MMA Diff. of the $14,663. This amount is in excess of the $2,300 target I look for in a stock that has increased dividends as long as MSFT has. If MSFT grows its dividend at 17.5% per year, it will take 2 years to
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