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Will Conceptus Disappoint Analysts Next Quarter?

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There's no foolproof way to know the future for Conceptus (NAS: CPTS) or any other company. However, certain clues may help you see potential stumbles before they happen -- and before your stock craters as a result.

A cloudy crystal ball
In this series, we use accounts receivable and days sales outstanding to judge a company's current health and future prospects. It's an important step in separating the pretenders from the market's best stocks. Alone, AR -- the amount of money owed the company -- and DSO -- the number of days' worth of sales owed to the company -- don't tell you much. However, by considering the trends in AR and DSO, you can sometimes get a window onto the future.

Sometimes, problems with AR or DSO simply indicate a change in the business (like an acquisition), or lax collections. However, AR that grows more quickly than revenue, or ballooning DSO, can, at times, suggest a desperate company that's trying to boost sales by giving its customers overly generous payment terms. Alternately, it can indicate that the company sprinted to book a load of sales at the end of the quarter, like used-car dealers on the 29th of the month. (Sometimes, companies do both.)


Why might an upstanding firm like Conceptus do this? For the same reason any other company might: to make the numbers. Investors don't like revenue shortfalls, and employees don't like reporting them to their superiors.

Is Conceptus sending any potential warning signs? Take a look at the chart below, which plots revenue growth against AR growth, and DSO:

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. FQ = fiscal quarter.

The standard way to calculate DSO uses average accounts receivable. I prefer to look at end-of-quarter receivables, but I've plotted both above.

Watching the trends
When that red line (AR growth) crosses above the green line (revenue growth), I know I need to consult the filings. Similarly, a spike in the blue bars indicates a trend worth worrying about. Conceptus's latest average DSO stands at 58.5 days, and the end-of-quarter figure is 55.6 days. Differences in business models can generate variations in DSO, and business needs can require occasional fluctuations, but all things being equal, I like to see this figure stay steady. So, let's get back to our original question: Based on DSO and sales, does Conceptus look like it might miss its numbers in the next quarter or two?

The raw numbers suggest potential trouble ahead. For the last fully reported fiscal quarter, Conceptus's year-over-year revenue grew 16.1%, and its AR grew 30.0%. That's a yellow flag. End-of-quarter DSO increased 10.7% over the prior-year quarter. It was up 6.8% versus the prior quarter. Still, I'm no fortuneteller, and these are just numbers. Investors putting their money on the line always need to dig into the filings for the root causes and draw their own conclusions.

Is Conceptus the best health care stock for you? Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks," including one above-average health care logistics company. Click here for instant access to this free report.

The article Will Conceptus Disappoint Analysts Next Quarter? originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Will Schweitzer-Mauduit International Blow It Next Quarter?

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There's no foolproof way to know the future for Schweitzer-Mauduit International (NYS: SWM) or any other company. However, certain clues may help you see potential stumbles before they happen -- and before your stock craters as a result.

A cloudy crystal ball
In this series, we use accounts receivable and days sales outstanding to judge a company's current health and future prospects. It's an important step in separating the pretenders from the market's best stocks. Alone, AR -- the amount of money owed the company -- and DSO -- the number of days' worth of sales owed to the company -- don't tell you much. However, by considering the trends in AR and DSO, you can sometimes get a window onto the future.

Sometimes, problems with AR or DSO simply indicate a change in the business (like an acquisition), or lax collections. However, AR that grows more quickly than revenue, or ballooning DSO, can, at times, suggest a desperate company that's trying to boost sales by giving its customers overly generous payment terms. Alternately, it can indicate that the company sprinted to book a load of sales at the end of the quarter, like used-car dealers on the 29th of the month. (Sometimes, companies do both.)


Why might an upstanding firm like Schweitzer-Mauduit International do this? For the same reason any other company might: to make the numbers. Investors don't like revenue shortfalls, and employees don't like reporting them to their superiors.

Is Schweitzer-Mauduit International sending any potential warning signs? Take a look at the chart below, which plots revenue growth against AR growth, and DSO:

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. FQ = fiscal quarter.

The standard way to calculate DSO uses average accounts receivable. I prefer to look at end-of-quarter receivables, but I've plotted both above.

Watching the trends
When that red line (AR growth) crosses above the green line (revenue growth), I know I need to consult the filings. Similarly, a spike in the blue bars indicates a trend worth worrying about. Schweitzer-Mauduit International's latest average DSO stands at 39.5 days, and the end-of-quarter figure is 46.6 days. Differences in business models can generate variations in DSO, and business needs can require occasional fluctuations, but all things being equal, I like to see this figure stay steady. So, let's get back to our original question: Based on DSO and sales, does Schweitzer-Mauduit International look like it might miss its numbers in the next quarter or two?

The numbers don't paint a clear picture. For the last fully reported fiscal quarter, Schweitzer-Mauduit International's year-over-year revenue shrank 0.3%, and its AR dropped 6.6%. That looks OK. End-of-quarter DSO decreased 7.4% from the prior-year quarter. It was up 42.4% versus the prior quarter. That looks like seasonality. Still, I'm no fortuneteller, and these are just numbers. Investors putting their money on the line always need to dig into the filings for the root causes and draw their own conclusions.

Can your portfolio provide you with enough income to last through retirement? You'll need more than Schweitzer-Mauduit International. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.

The article Will Schweitzer-Mauduit International Blow It Next Quarter? originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Houston Wire & Cable Passes This Key Test

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There's no foolproof way to know the future for Houston Wire & Cable (NAS: HWCC) or any other company. However, certain clues may help you see potential stumbles before they happen -- and before your stock craters as a result.

A cloudy crystal ball
In this series, we use accounts receivable and days sales outstanding to judge a company's current health and future prospects. It's an important step in separating the pretenders from the market's best stocks. Alone, AR -- the amount of money owed the company -- and DSO -- the number of days' worth of sales owed to the company -- don't tell you much. However, by considering the trends in AR and DSO, you can sometimes get a window onto the future.

Sometimes, problems with AR or DSO simply indicate a change in the business (like an acquisition), or lax collections. However, AR that grows more quickly than revenue, or ballooning DSO, can, at times, suggest a desperate company that's trying to boost sales by giving its customers overly generous payment terms. Alternately, it can indicate that the company sprinted to book a load of sales at the end of the quarter, like used-car dealers on the 29th of the month. (Sometimes, companies do both.)


Why might an upstanding firm like Houston Wire & Cable do this? For the same reason any other company might: to make the numbers. Investors don't like revenue shortfalls, and employees don't like reporting them to their superiors.

Is Houston Wire & Cable sending any potential warning signs? Take a look at the chart below, which plots revenue growth against AR growth, and DSO:

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. FQ = fiscal quarter.

The standard way to calculate DSO uses average accounts receivable. I prefer to look at end-of-quarter receivables, but I've plotted both above.

Watching the trends
When that red line (AR growth) crosses above the green line (revenue growth), I know I need to consult the filings. Similarly, a spike in the blue bars indicates a trend worth worrying about. Houston Wire & Cable's latest average DSO stands at 59.7 days, and the end-of-quarter figure is 56.5 days. Differences in business models can generate variations in DSO, and business needs can require occasional fluctuations, but all things being equal, I like to see this figure stay steady. So, let's get back to our original question: Based on DSO and sales, does Houston Wire & Cable look like it might miss its numbers in the next quarter or two?

I don't think so. AR and DSO look healthy. For the last fully reported fiscal quarter, Houston Wire & Cable's year-over-year revenue shrank 0.2%, and its AR dropped 8.8%. That looks OK. End-of-quarter DSO decreased 9.7% from the prior-year quarter. It was down 2.7% versus the prior quarter. Still, I'm no fortuneteller, and these are just numbers. Investors putting their money on the line always need to dig into the filings for the root causes and draw their own conclusions.

Can your portfolio provide you with enough income to last through retirement? You'll need more than Houston Wire & Cable. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.

The article Houston Wire & Cable Passes This Key Test originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Why Kongzhong's Earnings Are Outstanding

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Although business headlines still tout earnings numbers, many investors have moved past net earnings as a measure of a company's economic output. That's because earnings are very often less trustworthy than cash flow, since earnings are more open to manipulation based on dubious judgment calls.

Earnings' unreliability is one of the reasons Foolish investors often flip straight past the income statement to check the cash flow statement. In general, by taking a close look at the cash moving in and out of the business, you can better understand whether the last batch of earnings brought money into the company, or merely disguised a cash gusher with a pretty headline.

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 Kongzhong (NAS: KONG) , whose recent revenue and earnings are plotted below.


Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. FCF = free cash flow. FY = fiscal year. TTM = trailing 12 months.

Over the past 12 months, Kongzhong generated $44.9 million cash while it booked net income of $25.7 million. That means it turned 24.4% of its revenue into FCF. That sounds pretty impressive.

All cash is not equal
Unfortunately, the cash flow statement isn't immune from nonsense, either. That's why it pays to take a close look at the components of cash flow from operations, to make sure that the cash flows are of high quality. What does that mean? To me, it means they need to be real and replicable in the upcoming quarters, rather than being offset by continual cash outflows that don't appear on the income statement (such as major capital expenditures).

For instance, cash flow based on cash net income and adjustments for non-cash income-statement expenses (like depreciation) is generally favorable. An increase in cash flow based on stiffing your suppliers (by increasing accounts payable for the short term) or shortchanging Uncle Sam on taxes will come back to bite investors later. The same goes for decreasing accounts receivable; this is good to see, but it's ordinary in recessionary times, and you can only increase collections so much. Finally, adding stock-based compensation expense back to cash flows is questionable when a company hands out a lot of equity to employees and uses cash in later periods to buy back those shares.

So how does the cash flow at Kongzhong look? Take a peek at the chart below, which flags questionable cash flow sources with a red bar.

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. TTM = trailing 12 months.

When I say "questionable cash flow sources," I mean items such as changes in taxes payable, tax benefits from stock options, and asset sales, among others. That's not to say that companies booking these as sources of cash flow are weak, or are engaging in any sort of wrongdoing, or that everything that comes up questionable in my graph is automatically bad news. But whenever a company is getting more than, say, 10% of its cash from operations from these dubious sources, investors ought to make sure to refer to the filings and dig in.

With questionable cash flows amounting to only 8.2% of operating cash flow, Kongzhong's cash flows look clean. Within the questionable cash flow figure plotted in the TTM period above, stock-based compensation and related tax benefits provided the biggest boost, at 8.2% of cash flow from operations. Overall, the biggest drag on FCF came from changes in accounts receivable, which represented 8.0% of cash from operations.

A Foolish final thought
Most investors don't keep tabs on their companies' cash flow. I think that's a mistake. If you take the time to read past the headlines and crack a filing now and then, you're in a much better position to spot potential trouble early. Better yet, you'll improve your odds of finding the underappreciated home-run stocks that provide the market's best returns.

Software and computerized services are being consumed in radically different ways, on new and increasingly mobile devices. Many old leaders will be left behind. Whether or not Kongzhong makes the coming cut, you should check out the company that Motley Fool analysts expect to lead the pack in "The Next Trillion-dollar Revolution." Click here for instant access to this free report.

We can help you keep tabs on your companies with My Watchlist, our free, personalized stock tracking service.

The article Why Kongzhong's Earnings Are Outstanding originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Don't Get Too Worked Up Over Genesee & Wyoming's Earnings

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Although business headlines still tout earnings numbers, many investors have moved past net earnings as a measure of a company's economic output. That's because earnings are very often less trustworthy than cash flow, since earnings are more open to manipulation based on dubious judgment calls.

Earnings' unreliability is one of the reasons Foolish investors often flip straight past the income statement to check the cash flow statement. In general, by taking a close look at the cash moving in and out of the business, you can better understand whether the last batch of earnings brought money into the company, or merely disguised a cash gusher with a pretty headline.

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 Genesee & Wyoming (NYS: GWR) , whose recent revenue and earnings are plotted below.


Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. FCF = free cash flow. FY = fiscal year. TTM = trailing 12 months.

Over the past 12 months, Genesee & Wyoming burned $12.9 million cash while it booked net income of $112.8 million. That means it burned through all its revenue and more. That doesn't sound so great. FCF is less than net income. Ideally, we'd like to see the opposite.

All cash is not equal
Unfortunately, the cash flow statement isn't immune from nonsense, either. That's why it pays to take a close look at the components of cash flow from operations, to make sure that the cash flows are of high quality. What does that mean? To me, it means they need to be real and replicable in the upcoming quarters, rather than being offset by continual cash outflows that don't appear on the income statement (such as major capital expenditures).

For instance, cash flow based on cash net income and adjustments for non-cash income-statement expenses (like depreciation) is generally favorable. An increase in cash flow based on stiffing your suppliers (by increasing accounts payable for the short term) or shortchanging Uncle Sam on taxes will come back to bite investors later. The same goes for decreasing accounts receivable; this is good to see, but it's ordinary in recessionary times, and you can only increase collections so much. Finally, adding stock-based compensation expense back to cash flows is questionable when a company hands out a lot of equity to employees and uses cash in later periods to buy back those shares.

So how does the cash flow at Genesee & Wyoming look? Take a peek at the chart below, which flags questionable cash flow sources with a red bar.

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. TTM = trailing 12 months.

When I say "questionable cash flow sources," I mean items such as changes in taxes payable, tax benefits from stock options, and asset sales, among others. That's not to say that companies booking these as sources of cash flow are weak, or are engaging in any sort of wrongdoing, or that everything that comes up questionable in my graph is automatically bad news. But whenever a company is getting more than, say, 10% of its cash from operations from these dubious sources, investors ought to make sure to refer to the filings and dig in.

With 15.1% of operating cash flow coming from questionable sources, Genesee & Wyoming investors should take a closer look at the underlying numbers. Within the questionable cash flow figure plotted in the TTM period above, other operating activities (which can include deferred income taxes, pension charges, and other one-off items) provided the biggest boost, at 23.7% of cash flow from operations. Overall, the biggest drag on FCF came from capital expenditures.

A Foolish final thought
Most investors don't keep tabs on their companies' cash flow. I think that's a mistake. If you take the time to read past the headlines and crack a filing now and then, you're in a much better position to spot potential trouble early. Better yet, you'll improve your odds of finding the underappreciated home-run stocks that provide the market's best returns.

If you're interested in transportation companies like Genesee & Wyoming, then you should check out our special report that features 3 companies who depend on, and invest in, that industry. Learn the basic financial habits of millionaires next door and get these 3 focused stock ideas in our free report, "3 Stocks That Will Help You Retire Rich." Click here for instant access to this free report.

We can help you keep tabs on your companies with My Watchlist, our free, personalized stock tracking service.

The article Don't Get Too Worked Up Over Genesee & Wyoming's Earnings originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool recommends Genesee & Wyoming. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Is Standard Motor Products a Cash Machine?

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Filed under:

Although business headlines still tout earnings numbers, many investors have moved past net earnings as a measure of a company's economic output. That's because earnings are very often less trustworthy than cash flow, since earnings are more open to manipulation based on dubious judgment calls.

Earnings' unreliability is one of the reasons Foolish investors often flip straight past the income statement to check the cash flow statement. In general, by taking a close look at the cash moving in and out of the business, you can better understand whether the last batch of earnings brought money into the company, or merely disguised a cash gusher with a pretty headline.

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 Standard Motor Products (NYS: SMP) , whose recent revenue and earnings are plotted below.


Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. FCF = free cash flow. FY = fiscal year. TTM = trailing 12 months.

Over the past 12 months, Standard Motor Products generated $63.8 million cash while it booked net income of $45.3 million. That means it turned 6.6% of its revenue into FCF. That sounds OK.

All cash is not equal
Unfortunately, the cash flow statement isn't immune from nonsense, either. That's why it pays to take a close look at the components of cash flow from operations, to make sure that the cash flows are of high quality. What does that mean? To me, it means they need to be real and replicable in the upcoming quarters, rather than being offset by continual cash outflows that don't appear on the income statement (such as major capital expenditures).

For instance, cash flow based on cash net income and adjustments for non-cash income-statement expenses (like depreciation) is generally favorable. An increase in cash flow based on stiffing your suppliers (by increasing accounts payable for the short term) or shortchanging Uncle Sam on taxes will come back to bite investors later. The same goes for decreasing accounts receivable; this is good to see, but it's ordinary in recessionary times, and you can only increase collections so much. Finally, adding stock-based compensation expense back to cash flows is questionable when a company hands out a lot of equity to employees and uses cash in later periods to buy back those shares.

So how does the cash flow at Standard Motor Products look? Take a peek at the chart below, which flags questionable cash flow sources with a red bar.

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. TTM = trailing 12 months.

When I say "questionable cash flow sources," I mean items such as changes in taxes payable, tax benefits from stock options, and asset sales, among others. That's not to say that companies booking these as sources of cash flow are weak, or are engaging in any sort of wrongdoing, or that everything that comes up questionable in my graph is automatically bad news. But whenever a company is getting more than, say, 10% of its cash from operations from these dubious sources, investors ought to make sure to refer to the filings and dig in.

With 20.1% of operating cash flow coming from questionable sources, Standard Motor Products investors should take a closer look at the underlying numbers. Within the questionable cash flow figure plotted in the TTM period above, other operating activities (which can include deferred income taxes, pension charges, and other one-off items) provided the biggest boost, at 11.1% of cash flow from operations. Overall, the biggest drag on FCF came from capital expenditures, which consumed 15.8% of cash from operations.

A Foolish final thought
Most investors don't keep tabs on their companies' cash flow. I think that's a mistake. If you take the time to read past the headlines and crack a filing now and then, you're in a much better position to spot potential trouble early. Better yet, you'll improve your odds of finding the underappreciated home-run stocks that provide the market's best returns.

If you're interested in companies like Standard Motor Products, you might want to check out the jaw-dropping technology that's about to put 100 million Chinese factory workers out on the street - and the 3 companies that control it. We'll tell you all about them in "The Future is Made in America." Click here for instant access to this free report.

We can help you keep tabs on your companies with My Watchlist, our free, personalized stock tracking service.

The article Is Standard Motor Products a Cash Machine? originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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1 Thing to Watch at Omnicom Group

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Filed under:

Although business headlines still tout earnings numbers, many investors have moved past net earnings as a measure of a company's economic output. That's because earnings are very often less trustworthy than cash flow, since earnings are more open to manipulation based on dubious judgment calls.

Earnings' unreliability is one of the reasons Foolish investors often flip straight past the income statement to check the cash flow statement. In general, by taking a close look at the cash moving in and out of the business, you can better understand whether the last batch of earnings brought money into the company, or merely disguised a cash gusher with a pretty headline.

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 Omnicom Group (NYS: OMC) , whose recent revenue and earnings are plotted below.


Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. FCF = free cash flow. FY = fiscal year. TTM = trailing 12 months.

Over the past 12 months, Omnicom Group generated $1,023.2 million cash while it booked net income of $998.8 million. That means it turned 7.1% of its revenue into FCF. That sounds OK.

All cash is not equal
Unfortunately, the cash flow statement isn't immune from nonsense, either. That's why it pays to take a close look at the components of cash flow from operations, to make sure that the cash flows are of high quality. What does that mean? To me, it means they need to be real and replicable in the upcoming quarters, rather than being offset by continual cash outflows that don't appear on the income statement (such as major capital expenditures).

For instance, cash flow based on cash net income and adjustments for non-cash income-statement expenses (like depreciation) is generally favorable. An increase in cash flow based on stiffing your suppliers (by increasing accounts payable for the short term) or shortchanging Uncle Sam on taxes will come back to bite investors later. The same goes for decreasing accounts receivable; this is good to see, but it's ordinary in recessionary times, and you can only increase collections so much. Finally, adding stock-based compensation expense back to cash flows is questionable when a company hands out a lot of equity to employees and uses cash in later periods to buy back those shares.

So how does the cash flow at Omnicom Group look? Take a peek at the chart below, which flags questionable cash flow sources with a red bar.

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. TTM = trailing 12 months.

When I say "questionable cash flow sources," I mean items such as changes in taxes payable, tax benefits from stock options, and asset sales, among others. That's not to say that companies booking these as sources of cash flow are weak, or are engaging in any sort of wrongdoing, or that everything that comes up questionable in my graph is automatically bad news. But whenever a company is getting more than, say, 10% of its cash from operations from these dubious sources, investors ought to make sure to refer to the filings and dig in.

With 10.8% of operating cash flow coming from questionable sources, Omnicom Group investors should take a closer look at the underlying numbers. Within the questionable cash flow figure plotted in the TTM period above, other operating activities (which can include deferred income taxes, pension charges, and other one-off items) provided the biggest boost, at 9.5% of cash flow from operations. Overall, the biggest drag on FCF came from changes in accounts receivable, which represented 37.9% of cash from operations.

A Foolish final thought
Most investors don't keep tabs on their companies' cash flow. I think that's a mistake. If you take the time to read past the headlines and crack a filing now and then, you're in a much better position to spot potential trouble early. Better yet, you'll improve your odds of finding the underappreciated home-run stocks that provide the market's best returns.

Can your retirement portfolio provide you with enough income to last? You'll need more than Omnicom Group. Learn about crafting a smarter retirement plan in "The Shocking Can't-Miss Truth About Your Retirement." Click here for instant access to this free report.

We can help you keep tabs on your companies with My Watchlist, our free, personalized stock tracking service.

The article 1 Thing to Watch at Omnicom Group originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Here's How Acxiom Is Making You So Much Cash

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Filed under:

Although business headlines still tout earnings numbers, many investors have moved past net earnings as a measure of a company's economic output. That's because earnings are very often less trustworthy than cash flow, since earnings are more open to manipulation based on dubious judgment calls.

Earnings' unreliability is one of the reasons Foolish investors often flip straight past the income statement to check the cash flow statement. In general, by taking a close look at the cash moving in and out of the business, you can better understand whether the last batch of earnings brought money into the company, or merely disguised a cash gusher with a pretty headline.

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 Acxiom (NAS: ACXM) , whose recent revenue and earnings are plotted below.


Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. FCF = free cash flow. FY = fiscal year. TTM = trailing 12 months.

Over the past 12 months, Acxiom generated $111.6 million cash while it booked net income of $57.6 million. That means it turned 10.2% of its revenue into FCF. That sounds pretty impressive.

All cash is not equal
Unfortunately, the cash flow statement isn't immune from nonsense, either. That's why it pays to take a close look at the components of cash flow from operations, to make sure that the cash flows are of high quality. What does that mean? To me, it means they need to be real and replicable in the upcoming quarters, rather than being offset by continual cash outflows that don't appear on the income statement (such as major capital expenditures).

For instance, cash flow based on cash net income and adjustments for non-cash income-statement expenses (like depreciation) is generally favorable. An increase in cash flow based on stiffing your suppliers (by increasing accounts payable for the short term) or shortchanging Uncle Sam on taxes will come back to bite investors later. The same goes for decreasing accounts receivable; this is good to see, but it's ordinary in recessionary times, and you can only increase collections so much. Finally, adding stock-based compensation expense back to cash flows is questionable when a company hands out a lot of equity to employees and uses cash in later periods to buy back those shares.

So how does the cash flow at Acxiom look? Take a peek at the chart below, which flags questionable cash flow sources with a red bar.

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. TTM = trailing 12 months.

When I say "questionable cash flow sources," I mean items such as changes in taxes payable, tax benefits from stock options, and asset sales, among others. That's not to say that companies booking these as sources of cash flow are weak, or are engaging in any sort of wrongdoing, or that everything that comes up questionable in my graph is automatically bad news. But whenever a company is getting more than, say, 10% of its cash from operations from these dubious sources, investors ought to make sure to refer to the filings and dig in.

With questionable cash flows amounting to only 5.3% of operating cash flow, Acxiom's cash flows look clean. Within the questionable cash flow figure plotted in the TTM period above, stock-based compensation and related tax benefits provided the biggest boost, at 8.0% of cash flow from operations. Overall, the biggest drag on FCF came from capital expenditures, which consumed 25.6% of cash from operations.

A Foolish final thought
Most investors don't keep tabs on their companies' cash flow. I think that's a mistake. If you take the time to read past the headlines and crack a filing now and then, you're in a much better position to spot potential trouble early. Better yet, you'll improve your odds of finding the underappreciated home-run stocks that provide the market's best returns.

Is Acxiom playing the right part in the new technology revolution? Computers, mobile devices, and related services are creating huge amounts of valuable data, but only for companies that can crunch the numbers and make sense of it. Meet the leader in this field in "The Only Stock You Need To Profit From the NEW Technology Revolution." Click here for instant access to this free report.

We can help you keep tabs on your companies with My Watchlist, our free, personalized stock tracking service.

The article Here's How Acxiom Is Making You So Much Cash originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Are Ultrapar Holdings's Earnings Better Than They Look?

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Although business headlines still tout earnings numbers, many investors have moved past net earnings as a measure of a company's economic output. That's because earnings are very often less trustworthy than cash flow, since earnings are more open to manipulation based on dubious judgment calls.

Earnings' unreliability is one of the reasons Foolish investors often flip straight past the income statement to check the cash flow statement. In general, by taking a close look at the cash moving in and out of the business, you can better understand whether the last batch of earnings brought money into the company, or merely disguised a cash gusher with a pretty headline.

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 Ultrapar Holdings (NYS: UGP) , whose recent revenue and earnings are plotted below.


Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. FCF = free cash flow. FY = fiscal year. TTM = trailing 12 months.

Over the past 12 months, Ultrapar Holdings generated $709.6 million cash while it booked net income of $526.5 million. That means it turned 2.6% of its revenue into FCF. That doesn't sound so great.

All cash is not equal
Unfortunately, the cash flow statement isn't immune from nonsense, either. That's why it pays to take a close look at the components of cash flow from operations, to make sure that the cash flows are of high quality. What does that mean? To me, it means they need to be real and replicable in the upcoming quarters, rather than being offset by continual cash outflows that don't appear on the income statement (such as major capital expenditures).

For instance, cash flow based on cash net income and adjustments for non-cash income-statement expenses (like depreciation) is generally favorable. An increase in cash flow based on stiffing your suppliers (by increasing accounts payable for the short term) or shortchanging Uncle Sam on taxes will come back to bite investors later. The same goes for decreasing accounts receivable; this is good to see, but it's ordinary in recessionary times, and you can only increase collections so much. Finally, adding stock-based compensation expense back to cash flows is questionable when a company hands out a lot of equity to employees and uses cash in later periods to buy back those shares.

So how does the cash flow at Ultrapar Holdings look? Take a peek at the chart below, which flags questionable cash flow sources with a red bar.

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. TTM = trailing 12 months.

When I say "questionable cash flow sources," I mean items such as changes in taxes payable, tax benefits from stock options, and asset sales, among others. That's not to say that companies booking these as sources of cash flow are weak, or are engaging in any sort of wrongdoing, or that everything that comes up questionable in my graph is automatically bad news. But whenever a company is getting more than, say, 10% of its cash from operations from these dubious sources, investors ought to make sure to refer to the filings and dig in.

With 33.9% of operating cash flow coming from questionable sources, Ultrapar Holdings investors should take a closer look at the underlying numbers. Within the questionable cash flow figure plotted in the TTM period above, other operating activities (which can include deferred income taxes, pension charges, and other one-off items) provided the biggest boost, at 30.7% of cash flow from operations. Overall, the biggest drag on FCF came from capital expenditures, which consumed 33.0% of cash from operations. Ultrapar Holdings investors may also want to keep an eye on accounts receivable, because the TTM change is 2.1 times greater than the average swing over the past 5 fiscal years.

A Foolish final thought
Most investors don't keep tabs on their companies' cash flow. I think that's a mistake. If you take the time to read past the headlines and crack a filing now and then, you're in a much better position to spot potential trouble early. Better yet, you'll improve your odds of finding the underappreciated home-run stocks that provide the market's best returns.

Looking for an alternative to Ultrapar Holdings? By investing in this multibillion-dollar energy company, you can get in before its stock rebounds, when natural gas prices eventually do turn upward. And until natural gas prices do rebound (which a top Motley Fool analyst expects will happen by 2014), you can cash in on its stable 5.7% dividend. Click here for instant access to this free report.

We can help you keep tabs on your companies with My Watchlist, our free, personalized stock tracking service.

The article Are Ultrapar Holdings's Earnings Better Than They Look? originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Don't Get Too Worked Up Over Arabian American Development's Earnings

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0

Filed under:

Although business headlines still tout earnings numbers, many investors have moved past net earnings as a measure of a company's economic output. That's because earnings are very often less trustworthy than cash flow, since earnings are more open to manipulation based on dubious judgment calls.

Earnings' unreliability is one of the reasons Foolish investors often flip straight past the income statement to check the cash flow statement. In general, by taking a close look at the cash moving in and out of the business, you can better understand whether the last batch of earnings brought money into the company, or merely disguised a cash gusher with a pretty headline.

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 Arabian American Development (NYS: ARSD) , whose recent revenue and earnings are plotted below.


Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. FCF = free cash flow. FY = fiscal year. TTM = trailing 12 months.

Over the past 12 months, Arabian American Development generated $8.0 million cash while it booked net income of $11.5 million. That means it turned 3.7% of its revenue into FCF. That sounds OK. However, FCF is less than net income. Ideally, we'd like to see the opposite.

All cash is not equal
Unfortunately, the cash flow statement isn't immune from nonsense, either. That's why it pays to take a close look at the components of cash flow from operations, to make sure that the cash flows are of high quality. What does that mean? To me, it means they need to be real and replicable in the upcoming quarters, rather than being offset by continual cash outflows that don't appear on the income statement (such as major capital expenditures).

For instance, cash flow based on cash net income and adjustments for non-cash income-statement expenses (like depreciation) is generally favorable. An increase in cash flow based on stiffing your suppliers (by increasing accounts payable for the short term) or shortchanging Uncle Sam on taxes will come back to bite investors later. The same goes for decreasing accounts receivable; this is good to see, but it's ordinary in recessionary times, and you can only increase collections so much. Finally, adding stock-based compensation expense back to cash flows is questionable when a company hands out a lot of equity to employees and uses cash in later periods to buy back those shares.

So how does the cash flow at Arabian American Development look? Take a peek at the chart below, which flags questionable cash flow sources with a red bar.

Source: S&P Capital IQ. Data is current as of last fully reported fiscal quarter. Dollar values in millions. TTM = trailing 12 months.

When I say "questionable cash flow sources," I mean items such as changes in taxes payable, tax benefits from stock options, and asset sales, among others. That's not to say that companies booking these as sources of cash flow are weak, or are engaging in any sort of wrongdoing, or that everything that comes up questionable in my graph is automatically bad news. But whenever a company is getting more than, say, 10% of its cash from operations from these dubious sources, investors ought to make sure to refer to the filings and dig in.

With questionable cash flows amounting to only 3.4% of operating cash flow, Arabian American Development's cash flows look clean. Within the questionable cash flow figure plotted in the TTM period above, other operating activities (which can include deferred income taxes, pension charges, and other one-off items) provided the biggest boost, at 8.5% of cash flow from operations. Overall, the biggest drag on FCF came from capital expenditures, which consumed 49.4% of cash from operations.

A Foolish final thought
Most investors don't keep tabs on their companies' cash flow. I think that's a mistake. If you take the time to read past the headlines and crack a filing now and then, you're in a much better position to spot potential trouble early. Better yet, you'll improve your odds of finding the underappreciated home-run stocks that provide the market's best returns.

Looking for alternatives to Arabian American Development? It takes more than great companies to build a fortune for the future. Learn the basic financial habits of millionaires next door and get focused stock ideas in our free report, "3 Stocks That Will Help You Retire Rich." Click here for instant access to this free report.

We can help you keep tabs on your companies with My Watchlist, our free, personalized stock tracking service.

The article Don't Get Too Worked Up Over Arabian American Development's Earnings originally appeared on Fool.com.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Air Lease Corporation Announces Pricing of Secondary Public Offering of Class A Common Stock

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Air Lease Corporation Announces Pricing of Secondary Public Offering of Class A Common Stock

LOS ANGELES--(BUSINESS WIRE)-- Air Lease Corporation (NYS: AL) (the "Company") today announced the pricing of the underwritten public offering of 8,000,000 shares of its Class A Common Stock by affiliates of Ares Management LLC, Leonard Green & Partners, L.P. and WL Ross & Co. LLC. The shares of Class A Common Stock were offered to the public at $26.75 per share. The underwriter has a 30-day option from the date of the offering to purchase up to an additional 800,000 shares of Class A Common Stock from certain selling stockholders. The offering is expected to close on June 5, 2013, subject to satisfaction of customary closing conditions. The Company is not selling any shares of Class A Common Stock in the offering and will not receive any proceeds from the sale. The total number of shares of the Company's Class A Common Stock outstanding will not change as a result of this offering.

Credit Suisse Securities (USA) LLC is acting as the book-running manager for the offering. The Class A Common Stock is being offered pursuant to a registration statement that the Company previously filed with the U.S. Securities and Exchange Commission (the "SEC"). The offering of the Class A Common Stock will be made only by means of a prospectus supplement and accompanying prospectus, which may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, telephone 1-800-221-1037, email: newyork.prospectus@credit-suisse.com.


This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.



Air Lease Corporation
Investors:
Ryan McKenna, 310-553-0555
Assistant Vice President, Strategic Planning and Investor Relations
rmckenna@airleasecorp.com
or
Media:
Laura St. John, 310-553-0555
Media and Investor Relations Coordinator
lstjohn@airleasecorp.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article Air Lease Corporation Announces Pricing of Secondary Public Offering of Class A Common Stock originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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GigOptix Showcasing RF MMICs and E-Band Products at IMS 2013

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GigOptix Showcasing RF MMICs and E-Band Products at IMS 2013

SAN JOSE, Calif.--(BUSINESS WIRE)-- GigOptix, Inc. (NYSE MKT: GIG), a leading supplier of advanced semiconductor and optical communications components, will showcase several leading RF MMICs and E-Band products.

At IMS booth #2507, GigOptix will showcase the following leading RM MMICs and E-band products:

  • iT2008: a high-performance DC to 26.5GHz power amplifier in test fixture
  • iT3011E: a high-sensitivity limiting amplifier with operation from DC to 12.5GHz and high-gain
  • iT3018E: a leading DC to 12.5GHz, high-gain receiver limiter amplifier with differential output
  • iT4036F: a wideband analog phase delay in an evaluation board
  • EXP7603: a 71-76GHz low E-band power amplifier
  • EXP8602: a 81-86GHz high E-band power amplifier

GigOptix E-Band Products

GigOptix has two low E-band power amplifiers (71-76GHz), the EXP7602 and EXP7603, and two high E-band power amplifiers (81-86GHz), the EXP8602 and EXP8603. GigOptix provides additional E-band solutions including: the EXO8602ZZ Lange Coupler, and the EXE8602 power detector.

GigOptix has also developed highly-integrated silicon-germanium (SiGe) transmitter and receiver chipsets:

  • EXU7610: low E-band transmitter
  • EXD7610: low E-band receiver
  • EXU8610: high E-band transmitter
  • EXD8610: high E-band receiver

These SiGe transmitter and receiver chips are expected to be available for sampling at the end of June 2013.

When the EXP7602/3 and EXU7610 are combined, they provide a competitive 2-chip low E-band solution. When the EXP8602/3 is combined with the EXU8610 a compelling 2-chip solution for the high E-band is achieved.

For more information, please visit GigOptix booth #2507 at IMS 2013 or contact your local sales manager via sales@gigoptix.com.

About GigOptix, Inc.

GigOptix is a leading fabless supplier of semiconductor and optical components that enable high speed information streaming that address emerging high growth opportunities in the communications, industrial, defense and avionics industries. The Company offers a broad portfolio of high performance MMIC solutions that enable next generation wireless microwave systems up to 90GHz and drivers, TIAs and TFPSTM optical modulators for 40 Gbps and 100 Gbps fiber-optic telecommunications and data-communications networks. GigOptix also offers a wide range of digital and mixed-signal ASIC solutions and enables product lifetime extension through its GigOptix Sunset Rescue Program.



Media:
GigOptix, Inc.
Josh Nakaska, 408-522-3172
Marketing Director
jnakaska@gigoptix.com
or
Investor Relations:
Summit IR Group
Jim Fanucchi, 408-404-5400
ir@gigoptix.com

KEYWORDS:   United States  North America  California  Washington

INDUSTRY KEYWORDS:

The article GigOptix Showcasing RF MMICs and E-Band Products at IMS 2013 originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

 

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Even the Obamas Could Be Smarter With Their Family Finances

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8 April 2012 - Washington, D.C. - President Barack Obama, First Lady Michelle Obama and daughters Sasha and Malia Obama walk across Lafayette Park to St. John's Episcopal Church to attend easter services. Photo Credit: Kristoffer Tripplaar/ Sipa Press
Getty Images
Unlike many of us, Barack and Michelle Obama are multimillionaires. But, like us, they could make some improvements to their finances.

Recently released financial disclosures shed light on how much money the POTUS and FLOTUS are worth and how they have their assets invested. Without a doubt, legal and ethical considerations restrict Barack and Michelle in their First Family capacity. But if the Obamas were my clients, I would make these three recommendations to improve their finances.

1. Make Your Money Work Harder.

The Obamas hold the majority of their net worth in cash and Treasury notes. As a general rule of thumb, an individual shouldn't hold more than 10 percent of his or her net worth in cash. Of course, that's assuming someone isn't swirling away a pile of dough to pay off a mortgage, endow a new business venture, or fund an upcoming major purchase.

Excess cash isn't making your money work very hard for you. With relatively few stock investments, the Obamas could stand to invest more aggressively by upping their overall stock market exposure.

2. Refinance the Mortgage.

After they leave 1600 Pennsylvania Avenue, the Obamas will likely return to their Chicago residence. If that's their plan, they'd be wise to refinance.

They obtained a 30-year, 5.625 percent mortgage in 2005. But with borrowing rates at rock-bottom lows, Barack and Michelle could refinance into a rate potentially south of 4 percent. That would save them oodles of cash each month.

3. Revisit the Girls' 529 Plans.

Mom and Dad Obama deserve kudos for getting a head start on funding Malia's and Sasha's college education. The Obamas have saved at least $100,000 for each daughter, with the money invested in tax-free 529 college savings plans. But even that won't be enough to cover the costs of college by the time the girls are ready to go off to school.

According to the College Board, a private university education currently runs close to $42,000 per year. Public schools are slightly more affordable; the current average cost of a four-year, out-of-state public university education is $34,000 annually.

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College costs are expected to increase 6 percent annually. So even though the Obamas have stashed away substantial sums of money for Malia's and Sasha's educations, they will still have to fork over even more cash, especially if the girls attend Ivy League schools. (Of course, that's assuming they don't qualify for financial aid or take on student loans.)

In addition to upping the 529 contribution amounts, the Obamas should revisit how the assets are invested.

As Malia and Sasha (who'll turn 15 and 12 years old, respectively, this summer) approach college age, the 529 plan dollars should be shifted into more conservative investments. They currently have roughly 50 percent in stocks and 50 percent in bonds. But during the next couple of years, a greater percentage should be allocated into bonds and cash. That way, gains are locked in and the money won't lose value due to market fluctuation and volatility.

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Motley Fool contributor Nicole Seghetti is a financial planner and writes about personal finance, retirement, and investing. Follow her on Twitter @NicoleSeghetti.

 

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Ex-CIA Deputy Director Frank Carlucci Fell for This Scam. Would You?

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Jan. 5, 2006 - Washington, District of Columbia, U.S. - I10363CB.Former Secretary of Defense Frank Carlucci talks to reporters outside the White House. 01-05-2006.  - -   2006.(Credit Image: © Christy Bowe/Globe Photos/ZUMAPRESS.com)
Christy Bowe/Globe Photos/ZUMAPRESS.com

Intelligence: To most of us it means smarts, wisdom, cleverness -- but when the word sits at the heart of the name "Central Intelligence Agency," it stands for vital information, and the special methods used to gather those key facts.

Surprisingly, it turns out that even someone who once was the No. 2 man at the CIA can forget to pay attention to both of those versions of intelligence when it comes to investing.

In Florida this week, former Deputy CIA Director (and former Secretary of Defense under President Reagan) Frank Carlucci walked into court and demanded that a Florida judge enforce judgment against a huckster who Carlucci says defrauded him out of $32 million.

The huckster in question, Michael Han, and his company, West Palm Beach-based Envion, had offered the prospect of taking scraps of plastic waste, originally manufactured from oil, and converting the stuff back into oil for use as a fuel source. Basically, it was promising a form of 21st-century alchemy -- except the base material in this case was plastic instead of lead, and the product it would supposedly would be turned into wasn't real gold but "black gold."

According to Carlucci's complaint, originally filed in April 2012, Han had assured Carlucci that Envion had a patent on this plastic-to-oil technology, a stable of "highly regarded directors" running the shop, a bevy of orders in backlog for sale of the "oil generator" machines that would do the conversions, and plenty of heavy-hitter investors lined up to finance the project.

Unfortunately, none of that was true.

More unfortunately still, Carlucci was unaware that it was not true. He got duped.

In for a Penny, In for a Pound

First approached by Han in 2004, Carlucci happily anted up $500,000 as his first investment in Envion -- apparently doing no due diligence, instead accepting Han's statements at face value.

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Further happy-talk from Han about the great strides the company was making, and Carlucci's own prospects of earning a return 50 times greater than his investment, enticed the former CIA Deputy Director to hand over millions of dollars more in subsequent years.

It was not until eight years later - 2012 -- that Carlucci began to suspect that something was up. This was after Han closed down the Washington, D.C., office of his supposedly hyper-growing company and moved the firm's headquarters to Florida. It also apparently took Carlucci those eight years to begin asking around, and investigating Han's assertions that he had such luminaries as Bill Gates, Warren Buffett, Bill Clinton, and George W. Bush investing alongside him -- with corporations Morgan Stanley (MS), Petrobras (PBR), and Russia's Gazprom beating down the door to invest as well.

(Hint: He didn't, and they weren't.)

Of course, by that point Carlucci was $32 million in the hole, with much of his wealth having gone to pay Han a $5 million salary, and to buy Han a $3.5 million home -- in Florida's soon-to-implode real estate market, no less.

Last month, Carlucci won a judgment for $37 million in Virginia to try to collect what he could out of whatever money Han has left -- nine years too late.

What's the Lesson Here for You?

Now, for small investors there are a couple of possible takeaways to this story. One possible interpretation: If the former second-in-command of the CIA, and a former honest-to-goodness spy (in the early 1960s, Carlucci held an undercover CIA posting in the Congo) couldn't figure out that the company he was investing in was a fraud, what hope can we little guys, we small-fry investors, ever have?

If you ask me, though, the real moral of this story is much more simple: Use your common sense.
First and most obviously, if some guy walks up to you and offers you an easy way to turn your money into a 5,000 percent profit, ask yourself: If this idea is so great, then why is this guy giving it to me, instead of keeping it to himself?

Second, do some due diligence. Before committing $32 million, or $32,000, or $320 to a project, do a bit of research. You don't need the resources of the Department of Defense or CIA for this. The SEC will suffice. If some guy named "Han" tells you he's got investors from Petrobras and Morgan Stanley investing in a plastic-to-oil scheme, look up Petrobras or Morgan Stanley on the SEC's website, and see if their filings say anything about their involvement in it.

Third, if your suspicions are already up, you may be able to get by on even more basic research. For example, a Google search for "plastic + into oil + machine + hoax" might have turned up a link to this 2010 post on the snopes.com website -- two years before Carlucci finally caught on to his goof, and filed his lawsuit.

Motley Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Petroleo Brasileiro S.A.

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Off-Grid Remote Sensing Power Systems Revenue Will Reach $1.5 Billion Annually by 2020, Forecasts Na

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Off-Grid Remote Sensing Power Systems Revenue Will Reach $1.5 Billion Annually by 2020, Forecasts Navigant Research

BOULDER, Colo.--(BUSINESS WIRE)-- Remote sensing systems, often powered by fuel cells, represent a sleeper market for small and low-wattage renewable and alternative energy systems. Such systems are used in many applications, including wind power stations, earthquake and tsunami monitoring sites, and weather stations, but their primary end-use is in the oil and gas industry. According to a recent report from Navigant Research, annual worldwide revenue from remote sensing power systems will grow from $923 million in 2013 to more than $1.5 billion in 2020.

"The market for gathering data for the proactive measurement of facilities such as dams, flood warning systems, oil wells, wind and large-scale solar farms is rapidly increasing," said Kerry-Ann Adamson, research director with Navigant Research. "Driven by the oil and gas industry, this market is growing at a particularly strong pace in Africa and the Middle East. However, due to the support of government agencies in the United States and their growing number of weatherization programs, North America will continue to lead in terms of the regional deployment of remote sensing systems."


The technologies underlying these remote sensing systems include light detection and ranging (LIDAR) for wind power stations and supervisory control and data acquisition (SCADA) systems for the oil and gas industry, as well as remote monitoring using telemetry for environmental applications. Primarily used in very remote locations, these systems are increasingly required to be self-contained, in terms of power and performance, for many months at a time. The goal, according to the report, is to allow site autonomy of one year or more.

The report, "Off-Grid Power for Remote Sensing Applications", examines the market for remote sensing systems using renewable or alternative energy, focusing on remote sensing, LIDAR, and SCADA systems. Market drivers and barriers for the use of renewable or alternative energy systems are detailed, along with specific factors at work in the oil and gas industry. Market forecasts for unit shipments and for revenues, segmented by application, are provided through 2020. The report also includes profiles of key industry players. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.

* The information contained in this press release concerning the report, "Off-Grid Power for Remote Sensing Applications," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.



Navigant Research
Richard Martin, +1-303-493-5483
richard.martin@navigant.com
or
Laverne Murach, +1-202-481-7336
laverne.murach@navigant.com

KEYWORDS:   United States  North America  Colorado

INDUSTRY KEYWORDS:

The article Off-Grid Remote Sensing Power Systems Revenue Will Reach $1.5 Billion Annually by 2020, Forecasts Navigant Research originally appeared on Fool.com.

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Acacia Subsidiary Enters into Settlement Agreement with Sam's West, Inc.

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Acacia Subsidiary Enters into Settlement Agreement with Sam's West, Inc.

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Acacia Research Corporation (NAS: ACTG) announced today that its Express Card Systems LLC subsidiary has entered into a settlement agreement with Sam's West, Inc. The agreement resolves litigation that was pending in the United States District Court for the Eastern District of Texas.


ABOUT ACACIA RESEARCH CORPORATION

Acacia Research Corporation's subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue. Acacia Research Corporation's subsidiaries control 250 patent portfolios, covering technologies used in a wide variety of industries.

Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearchgroup.com and www.acaciaresearch.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.



Acacia Research Corporation
Rob Stewart, Investor Relations
Tel 949-480-8300
Fax 949-480-8301
or
Media Contact:
SpecOps Communications
Adam Handelsman, President & Founder
212-518-7721
adam@specopscomm.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article Acacia Subsidiary Enters into Settlement Agreement with Sam's West, Inc. originally appeared on Fool.com.

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Acacia Subsidiary Enters into License Agreement with Costco Wholesale Corporation

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Acacia Subsidiary Enters into License Agreement with Costco Wholesale Corporation

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Acacia Research Corporation (NAS: ACTG) announced today that its Express Card Systems LLC subsidiary has entered into a settlement and license agreement with Costco Wholesale Corporation. The agreement resolves litigation that was pending in the United States District Court for the Eastern District of Texas.


ABOUT ACACIA RESEARCH CORPORATION

Acacia Research Corporation's subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue. Acacia Research Corporation's subsidiaries control 250 patent portfolios, covering technologies used in a wide variety of industries.

Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearchgroup.com and www.acaciaresearch.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.



Acacia Research Corporation
Rob Stewart
Investor Relations
Tel (949) 480-8300
Fax (949) 480-8301
or
Media Contact:
SpecOps Communications
Adam Handelsman
President & Founder
(212) 518-7721
adam@specopscomm.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article Acacia Subsidiary Enters into License Agreement with Costco Wholesale Corporation originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Exelixis Initiates Phase 3 Pivotal Trial of Cabozantinib in Patients With Metastatic Renal Cell Carc

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Exelixis Initiates Phase 3 Pivotal Trial of Cabozantinib in Patients With Metastatic Renal Cell Carcinoma

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Exelixis, Inc. (NAS: EXEL) today announced it has initiated METEOR, a phase 3 pivotal trial comparing cabozantinib to everolimus in patients with metastatic renal cell carcinoma (mRCC) who have experienced disease progression following treatment with at least one prior VEGFR tyrosine kinase inhibitor (TKI). The primary endpoint for the trial is progression-free survival.

"RCC patients who progressed after or who are refractory to initial treatment with VEGFR-TKI therapy have limited treatment options," said METEOR Principal Investigator Toni K. Choueiri, M.D., Director of the Kidney Cancer Center at the Dana-Farber Cancer Institute and an Associate Professor of Medicine at Harvard Medical School. "The cabozantinib data to date in RCC patients previously treated with VEGFR-TKIs showed encouraging anti-tumor activity, and provide a sound rationale for the design of the METEOR phase 3 study comparing cabozantinib to everolimus in this indication."


METEOR is an open-label trial of cabozantinib in patients with mRCC that is being conducted at up to 200 sites in up to 26 countries. The trial is expected to enroll 650 patients with clear cell RCC who have received and progressed on at least one VEGFR-TKI. Patient enrollment will be weighted toward Western Europe, North America, and Australia, and patients will be stratified based on the number of prior VEGFR-TKI therapies received and commonly applied RCC risk criteria developed by Motzer et al. Patients will be randomized 1:1 to receive 60 mg of cabozantinib daily or 10 mg of everolimus daily. No cross-over is allowed between the study arms.

The primary endpoint is progression-free survival (PFS) and the secondary endpoint is overall survival (OS). Exploratory endpoints include patient-reported outcomes, biomarkers, safety, and pharmacokinetics. PFS is an established acceptable endpoint for RCC clinical trials and has been used to support approval of sorafenib, sunitinib, everolimus, axitinib, and pazopanib in this indication.

Based on available clinical trial data, the primary endpoint assumes a median PFS of 5 months for the everolimus arm and 7.5 months for cabozantinib arm. This provides for a hazard ratio (HR) of 0.67 and 90% power and requires 259 PFS events among the first 375 patients randomized. The secondary endpoint assumes a median OS of 15 months for the everolimus arm and 20 months for the cabozantinib arm. This provides for a HR of 0.75 and 80% power and requires 413 events.

"Initiation of this phase 3 pivotal trial in mRCC is an important component of our development strategy to expand the cabozantinib franchise by exploring additional indications with the goal of providing patients with new treatment options," said Michael M. Morrissey, Ph.D., president and chief executive officer of Exelixis. "Our pre-phase 3 meetings with regulatory authorities in the U.S. and Europe, as well as feedback gathered from expert oncologists around the globe, have helped us design a trial that is intended to provide for a robust examination of cabozantinib's clinical potential as a treatment for mRCC. We also remain on track to begin a phase 3 pivotal trial of cabozantinib in patients with metastatic hepatocellular carcinoma in the third quarter of this year."

About Cabozantinib

Cabozantinib inhibits the activity of tyrosine kinases including RET, MET and VEGFR2. These receptor tyrosine kinases are involved in both normal cellular function and in pathologic processes such as oncogenesis, metastasis, tumor angiogenesis, and maintenance of the tumor microenvironment. COMETRIQ™ (cabozantinib) is currently approved by the U.S. Food and Drug Administration for the treatment of progressive, metastatic medullary thyroid cancer.

COMETRIQ™ Important Safety Information, including Boxed Warning

WARNING: PERFORATIONS AND FISTULAS, and HEMORRHAGE

  • Serious and sometimes fatal gastrointestinal perforations and fistulas occur in COMETRIQ-treated patients.
  • Severe and sometimes fatal hemorrhage occurs in COMETRIQ-treated patients.
  • COMETRIQ treatment results in an increase in thrombotic events, such as heart attacks.
  • Wound complications have been reported with COMETRIQ.
  • COMETRIQ treatment results in an increase in hypertension.
  • Osteonecrosis of the jaw has been observed in COMETRIQ-treated patients.
  • Palmar-Plantar Erythrodysesthesia (PPE) Syndrome occurs in patients treated with COMETRIQ.
  • The kidneys can be adversely affected by COMETRIQ. Proteinuria and nephrotic syndrome have been reported in patients receiving COMETRIQ.
  • Reversible Posterior Leukoencephalopathy Syndrome has been observed with COMETRIQ.
  • COMETRIQ can cause fetal harm when administered to a pregnant woman.

Adverse Reactions - The most commonly reported adverse drug reactions (≥25%) are diarrhea, stomatitis, palmar-plantar erythrodysesthesia syndrome (PPES), decreased weight, decreased appetite, nausea, fatigue, oral pain, hair color changes, dysgeusia, hypertension, abdominal pain, and constipation. The most common laboratory abnormalities (≥25%) are increased AST, increased ALT, lymphopenia, increased alkaline phosphatase, hypocalcemia, neutropenia, thrombocytopenia, hypophosphatemia, and hyperbilirubinemia.

Drug Interactions - COMETRIQ is a CYP3A4 substrate. Co-administration of strong CYP3A4 inhibitors can increase cabozantinib exposure. Chronic co-administration of strong CYP3A4 inducers can reduce cabozantinib exposure.

For full prescribing information, including Boxed Warning, please visit www.COMETRIQ.com.

About Exelixis

Exelixis is a biotechnology company committed to developing small molecule therapies for the treatment of cancer. Exelixis is focusing its proprietary resources and development efforts exclusively on COMETRIQ™ (cabozantinib). Exelixis has also established a portfolio of other novel compounds that it believes have the potential to address serious unmet medical needs, many of which are being advanced by partners as part of collaborations. For more information, please visit the company's web site at www.exelixis.com.

Forward-Looking Statements

This press release contains forward-looking statements, including, without limitation, statements related to: the continued development and clinical, therapeutic and commercial potential of, and opportunities for, cabozantinib; the belief that the cabozantinib data to date in RCC patients previously treated with VEGFR-TKIs provide a sound rationale for the design of the METEOR trial; the design, plans and goals for the METEOR trial, and the potential success thereof; Exelixis' development strategy to expand the cabozantinib franchise; Exelixis' plans to explore cabozantinib in additional indications; Exelixis' goal of providing patients with new treatment options; and Exelixis' plan to begin a phase 3 pivotal trial of cabozantinib in metastatic hepatocellular carcinoma and the expected timing thereof. Words such as "endpoint," "encouraging," "provide," "rationale," "design," "conducted," "expected," "will," "assumes," "strategy," "expand," "exploring," "goal," "new," "options," "intended," "potential," "on track," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Exelixis' current plans, assumptions, beliefs and expectations. Forward-looking statements involve risks and uncertainties. Exelixis' actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation: the availability of data at the expected times; risks related to the potential failure of cabozantinib to demonstrate safety and efficacy in clinical testing; the uncertain timing and level of expenses associated with the development of cabozantinib; Exelixis' ability to conduct clinical trials of cabozantinib sufficient to achieve a positive completion; the sufficiency of Exelixis' capital and other resources; market competition; and changes in economic and business conditions. These and other risk factors are discussed under "Risk Factors" and elsewhere in Exelixis' quarterly report on Form 10-Q for the three months ended March 29, 2013, filed with the Securities and Exchange Commission (SEC) on May 7, 2013, and Exelixis' other filings with the SEC. Exelixis expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Exelixis' expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.



Exelixis, Inc.
Charles Butler, 650-837-7277
Vice President, Investor Relations and Corporate Communications
cbutler@exelixis.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article Exelixis Initiates Phase 3 Pivotal Trial of Cabozantinib in Patients With Metastatic Renal Cell Carcinoma originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Celebrate Creativity, Reading, and Fun This Summer with American Girl

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Celebrate Creativity, Reading, and Fun This Summer with American Girl

—American Girl Stores are the Summer Destination for Girls and Their Families—

MIDDLETON, Wis.--(BUSINESS WIRE)-- American Girl—one of the top experiential retail and tourist destinations in the country—is the place to celebrate all the things girls love to do during the summer months. From June 1 through August 31, all 15 American Girl locations nationwide will host a variety of limited-time, family-friendly events and experiences to inspire creativity and create unforgettable summer memories for girls and their families and friends.

Celebrate Creativity, Reading, and Fun This Summer with American Girl (Photo: Business Wire)

Celebrate Creativity, Reading, and Fun This Summer with American Girl (Photo: Business Wire)


American Girl Retail Stores: The Summer Destination!

  • Saige in the Spotlight Movie-Viewing Event―On Friday, June 28, American Girl stores will present an exclusive premiere of An American Girl: Saige Paints the Sky, starring newcomer Sidney Fullmer as Saige and Jane Seymour as Saige's grandmother. Girls in attendance will be among the first to see the new movie based on Saige's stories before its DVD release on July 2. They'll also participate in free craft activities and bring home a special goody bag as a memento of their experience.
  • Saige's Art Event with Crayola ® Model Magic ® American Girl has teamed up with Crayola, maker of innovative art tools, crafting activities, and creative toys for children, for Saige's Art Event with Crayola® Model Magic®. Starting June 6 and running on Thursdays at American Girl stores throughout the summer, girls ages 8 and up can use the Crayola®Model Magic® modeling compound to create a colorful hot-air balloon inspired by Saige's stories.
  • Beyond Events & Activities―Summer visitors to American Girl stores can also enter to win the American Girl & Crayola Experience Sweepstakes, enjoy a "Summer Fun" smoothie in the American Girl Cafe, and visit the Doll Hair Salon for a summer-exclusive hairdo to keep girls' favorite dolls looking their best.

In addition, American Girl is encouraging girls to keep their reading skills sharp while school is out this summer with its Read-a-palooza summer reading program. At American Girl's retail stores nationwide, girls can find inspiration and explore the world of books with Read-a-palooza events all summer long. In-store activities include author appearances by American Girl's beloved authors, a free bookmark craft, and activities inspired by American Girl's popular historical and Girl of the Year characters.At home, girls can visit americangirl.com/reading, where they can download free reading-related content, such as American Girl book excerpts, word searches, and crossword puzzles, plus test their historical-character knowledge with a trivia challenge.

To further emphasize the importance of reading and to help a great cause during the Read-a-palooza campaign, American Girl is partnering with Save the Children's U.S. literacy program. From May 1 through August 26, 2013, $1 of every book purchased through American Girl channels (up to a maximum of $100,000) will support Save the Children's efforts to raise literacy rates in impoverished communities by providing basic education and equipping schools and teachers with reading materials.

To learn more about American Girl's summer events and experiences, to make reservations, or to plan a visit to an American Girl retail store, visit americangirl.com or call 877-247-5223.

About American Girl

American Girl Brands is a wholly owned subsidiary of Mattel, (NASDAQ:MAT, www.mattel.com), the world's leading toy company. Since American Girl's inception in 1986, the company has devoted its entire business to celebrating the potential of girls ages 3 to 12. American Girl encourages girls to dream, to grow, to aspire, to create, and to imagine through a wide range of engaging and insightful books, age-appropriate and educational products, and unforgettable experiences. In meeting its mission with a vigilant eye toward quality and service, American Girl has earned the loyal following of millions of girls and the praise and trust of parents and educators. To learn more about American Girl or to request a free catalogue, call 1-800-845-0005, or visit www.americangirl.com.

About Crayola

Crayola LLC, based in Easton, Pa. and a subsidiary of Hallmark Inc., is the worldwide leader in children's creative expression products. Known for the iconic Crayola crayon first introduced in 1903, the Crayola brand has grown into a portfolio of innovative art tools, crafting activities and creativity toys that offer children innovative new ways to use color to create everything imaginable. Consumers can find the wide array of Crayola products in the "Crayola Aisle" at all major retailers. For more information visit www.crayola.com or join the conversation at Facebook.com/Crayola.

About Save the Children

Save the Children's U.S. Programs work to break the cycle of poverty and improve the lives of children by ensuring they have the resources they need—access to a quality education, healthy foods, and opportunities to grow and develop in a nurturing environment. When disasters like hurricanes and wildfires strike, Save the Children is among the first on the ground ensuring the needs of children are being met.

Save the Children's early childhood education, literacy, physical activity and nutrition, and emergency response programs reached more than 147,000 children and families in the United States last year alone. For more information, visit www.savethechildren.org/usa.

MAT-AG



American Girl
Susan Jevens
608.830.4214
susan.jevens@americangirl.com
or
Crayola, LLC
Julie Lando
610-253-6272 ext. 4238
jlando@crayola.com

KEYWORDS:   United States  North America  Wisconsin

INDUSTRY KEYWORDS:

The article Celebrate Creativity, Reading, and Fun This Summer with American Girl originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Range Declares Quarterly Dividend

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Range Declares Quarterly Dividend

FORT WORTH, Texas--(BUSINESS WIRE)-- RANGE RESOURCES CORPORATION (NYSE:RRC) today announced that its Board of Directors declared a quarterly cash dividend on its common stock for the second quarter. A dividend of $0.04 per common share is payable on June 28, 2013 to stockholders of record at the close of business on June 14, 2013.

Range Resources Corporationis a leading independent oil and natural gas producer with operations focused in Appalachia and the southwest region of the United States. The Company pursues an organic growth strategy targeting high return, low-cost projects within its large inventory of low risk, development drilling opportunities. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com and www.myrangeresources.com.




Range Resources Corporation
Investor Contacts:
Rodney Waller, 817-869-4258
Senior Vice President
or
David Amend, 817-869-4266
Investor Relations Manager
or
Laith Sando, 817-869-4267
Research Manager
or
Michael Freeman, 817-869-4264
Financial Analyst
or
Media Contact:
Matt Pitzarella, 724-873-3224
Director of Corporate Communications
www.rangeresources.com

KEYWORDS:   United States  North America  Texas

INDUSTRY KEYWORDS:

The article Range Declares Quarterly Dividend originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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