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| David Abella of Rochdale Investment Management |
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| DON'T BUY | Bank of America | BAC-N | 7.670 | On a 5-year hold, if the global economy was better, this could turn out to be better also. Probably true, but not for sure because of the possibility that it is so badly damaged they may under perform the market. Would wait to see if things got a little brighter. | 2009-03-18 | ||
| DON'T BUY | CitiGroup | C-N | 3.080 | On a 5-year hold, if the global economy was better, this could turn out to be better also. Probably true, but not for sure because of the possibility that it is so badly damaged they may under perform the market. Would wait to see if things got a little brighter. | 2009-03-18 | ||
| DON'T BUY | Freddie Mac | FMCC-Q2 | 0.820 | He prefers much steadier companies. This is effectively nationalized so it is no longer run in the best interest of the shareholders. With government not aggressively foreclosing and rewriting mortgages, it will be less profitable and could be permanently impaired. | 2009-03-18 | ||
| WATCH | General Electric | GE-N | 10.320 | Big dividend cut along with a ratings downgrade hit them hard. Their trouble stems out of their financial services unit. Meeting tomorrow with analysts on their real estate holdings and could go a long way in how they are going to survive the credit crisis. If they survived, it is certainly undervalued on what their business would be in a more stable economy, which would be a good 3 to 5 years. Wait and see. | 2009-03-18 | ||
| TOP PICK | Hershy Foods Corp | HSY-N | 35.200 | Stock has been beaten up and company has been mismanaged with a horrible chart. But it has food defensive characteristics with not a lot of private label company competition. Expectations are low for unit volumes so all they have to do is beat a little bit. | 2009-03-18 | ||
| BUY | Johnson & Johnson | JNJ-N | 50.660 | Have a very strong consumer product business and thinks they could weather pharmacy pipeline issues. 11 PE. | 2009-03-18 | ||
| PAST TOP PICK | McDonalds | MCD-N | 55.420 | (A Top Pick Oct 22/08. Up 3.5%.) | 2009-03-18 | ||
| DON'T BUY | Pfizer Inc | PFE-N | 14.250 | A former glory growth stock. A lot of healthcare products and there is the issue of aging in America but that is offset by many of their expensive premier drugs going generic. Just cut their dividends. Would prefer other pharmaceutical stocks. | 2009-03-18 | ||
| TOP PICK | A T & T US | T-N | 20.350 | 6.38% dividend. Stock has been really beaten up and is down 40%. Blue-chip stock (fair amount of debt) on a distressed sale. Some people are cancelling landlines or not getting as much cell phone or add-ons as they used to but it is still a major company. | 2009-03-18 | ||
| PAST TOP PICK | Wal-Mart Stores Inc. | WMT-N | 50.440 | (A Top Pick Oct 22/08. Down 1.6%.) | 2009-03-18 | ||
| TOP PICK | Exxon Mobil | XOM-N | 69.170 | Very defensive. Doesn't particularly like energy right now but if you are going to be in energy this is the way to go. Outstanding balance sheet. AAA rating. 3.2% dividend. | 2009-03-18 | ||
| BUY on WEAKNESS | Visa Inc. | V-N | 56.310 | Solid name. There is definitely a driver that more and more people are using. Has been held back because of lower retail sales. Long-term steady story and a way to play the transactional volume without worrying about any particular retailer or taking credit risks. | 2009-03-18 | ||
| Comment | Philip Morris International | PM-N | 38.280 | Thinks the dividend is safe. Has growth in the international cigarette market without the same litigation issues as the US. | 2009-03-18 | ||
| PAST TOP PICK | Amerigas Partners | APU-N | 28.690 | (A Top Pick Oct 22/08. Up 1.8%.) | 2009-03-18 | ||
| TOP PICK | Bristol Myers Squibb | BMY-N | 22.470 | In a trading range of about $22-$28. At $23 or lower it’s a Buy. 5.5% yield. Has a better pipeline of pharmaceutical products than a lot of other competitors. If you got it at these prices and that one up to $25-$26, he would pare it back. | 2009-01-21 | ||
| Comment | Carnival Corp. | CCL-N | 19.880 | When the economy improves it should be helpful to this company. In the meantime it has problems the same as any other retail. He is watching this one. | 2009-01-21 | ||
| HOLD | General Electric | GE-N | 13.030 | A lot of great assets as well as some distressed assets. Great assets are somewhat recession prone but if economy improves they should do better. However GE capital side may have further problems. Risky stock at this point. Yield of 9.25%. | 2009-01-21 | ||
| HOLD | Home Depot | HD-N | 22.280 | US housing bubble has completely reversed and housing is getting weaker and weaker. Not only does retail have to improve, but housing has to improve. Will be dead money for a while. | 2009-01-21 | ||
| HOLD | Johnson & Johnson | JNJ-N | 56.360 | More defensive than not. Has a great set of products. Longer-term it could regain its status as a defensive stock. | 2009-01-21 | ||
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| BUY | Kraft Foods Inc | KFT-N | 28.330 | Valuation is a little expensive but earnings are stronger. A defensive stock. Food prices have increased over the last 6 months but input prices have gone down, which has helped margins. Good dividend and growing. | 2009-01-21 | ||
| TOP PICK | McDonalds | MCD-N | 58.700 | A very defensive way to play the market right now. People that eat there are continuing to do so and people that are eating at nicer restaurants are trading down. 3.5% yield is safe and growing. A 15X earnings makes sense. | 2009-01-21 | ||
| Comment | Wells Fargo | WFC-N | 16.650 | Investing in corporate senior debt in a company like this would probably be okay. No banking company is immune from what is going on but this company is not considered to have the same extent of problems. | 2009-01-21 | ||
| HOLD | Coach Inc | COH-N | 14.720 | One of the hottest stocks 5 years ago. Has been hit hard by the downturn in retail. You don't know when luxury shopping will resume. A play on the economy getting stronger. | 2009-01-21 | ||
| DON'T BUY | Dryships | DRYS-Q | 14.500 | Has never really liked this stock. Very speculative. Rates for dry bulk shipping based on the bulk dry index are still at a low. Not optimistic on this stock. 5.5% yield is not necessarily safe. | 2009-01-21 | ||
| HOLD | Visa Inc. | V-N | 44.180 | A strong brand name. Think they will increase both credit and debit transactions over time. Long-term it's a pretty good play. Will be subject to retail sales, which will be weak for a little while. | 2009-01-21 | ||
| TOP PICK | Suburban Propane Partners LP | SPH-N | 39.250 | Safe utilities like propane, which provides heating for people without a gas alternative, is a very safe way to play this market. Just increased their dividend to 6% year-over-year and gives a 8.5%-9% yield. | 2009-01-21 | ||
| Comment | General Electric | GE-N | 18.960 | Businesses are pretty economically sensitive. The uncertainty in their GE Financials has affected the stock price. Until the uncertainty is gone, he expects it to be more volatile. For a longer-term holder, it has some very solid businesses and should be a good name over a 5-year period. | 2008-10-22 | ||
| HOLD | Lockheed Martin | LMT-N | 79.770 | Concerns about defence cuts but defence cuts are never as much as anyone worries about. It makes sense to Hold or Buy before an election. | 2008-10-22 | ||
| TOP PICK | McDonalds | MCD-N | 54.180 | Extremely defensive. 2.5% dividend, which is growing. Just reported good earnings. | 2008-10-22 | ||
| HOLD | Pfizer Inc | PFE-N | 16.740 | Losing Lipitor in a couple of years but thinks this is priced into the stock. They are doing cost cutting. Pipeline is a little weak. From a historic PE level and dividend it is a very attractive value. However, if the US is to regulate more and put price fixing on drugs, that would definitely be a negative. | 2008-10-22 | ||
| Comment | Proctor & Gamble | PG-N | 58.760 | Very solid company. Spinning off Folgers coffee and are offering shareholders an option. To your advantage to accept. | 2008-10-22 | ||
| TOP PICK | Wal-Mart Stores Inc. | WMT-N | 52.270 | Very defensive. As consumers look for better pricing the company will have market share gain. | 2008-10-22 | ||
| BUY | Spectra Energy | SE-N | 17.140 | Natural gas transportation company. Likes this sector a lot. Good dividend. | 2008-10-22 | ||
| DON'T BUY | Dryships | DRYS-Q | 19.950 | Moves with the Baltic index which is very volatile. Has been pulling back. Could go lower with a decline in places like China. Risky. | 2008-10-22 | ||
| BUY | Family Dollar Stores Inc. | FDO-N | 24.590 | Generally speaking retail is a weak environment to be in. However, this is probably in the best sector in retail, which is in discounting. Have been able to carve out a niche even in the shadow of Wal-Mart (WMT-N). Pretty good results in the last quarter. Should do well with consumers in a recession over the next couple of years. | 2008-10-22 | ||
| TOP PICK | Amerigas Partners | APU-N | 29.420 | #1 propane company in the US. People use propane to heat the house and don't have the alternative of natural gas or oil. Stable and has utility type characteristics. 8.7% yield and sustainable. | 2008-10-22 |
