Following what seemed to be a relentless upward march in stock prices, we may be witnessing a shift in sentiment and the start of a period in which prices get reacquainted with downward volatility.
U.S. stocks fell 0.8% yesterday, and they opened lower this morning, with the S&P 500 (SNPINDEX: ^GSPC ) and the narrower, price-weighted Dow Jones Industrial Average (DJINDICES: ^DJI ) down 0.84% and 0.62%, respectively, at 10:05 a.m. EDT. Still, that's nothing compared to Japan's Nikkei 225, which fell 7.3% today!
Hewlett-Packard beats the Street
What a difference a quarter makes. Dow component Hewlett-Packard (NYSE: HPQ ) reported its quarterly results after yesterday's close, and investors seem to like what they see, sending the shares up 13% (in a market that is broadly declining, no less).
5 Best High Tech Stocks To Invest In Right Now: FalconStor Software Inc.(FALC)
FalconStor Software, Inc. develops, manufactures, and sells network storage software solutions in the United States and internationally. It also offers related maintenance, implementation, and engineering services. The company?s proprietary technology includes the IPStor software platform that provides disk-based data protection and storage virtualization solutions for small/medium businesses, organizations, and enterprises. Its open data protection solutions include Virtual Tape Library with data deduplication for backup optimization by reducing the data needed to be stored on disk; Continuous Data Protector combines local and remote protection into a disk-based solution that allows organizations to recover data back to the most recent transaction; Network Storage Server for storage virtualization and provisioning; File-interface Deduplication System for capacity optimized storage; and HyperFS, a SAN-based file system to optimize storage performance for data intensive ap plications. The company offers data protection services at various levels from operating systems and application software, to files, databases, and messaging data across the organization. In addition, its storage virtualization and data protection solutions are designed for IT administrators and end users to recover data in the event of hardware failure, data corruption, deletion, or catastrophic site-level disaster; and to facilitate data restoration while minimizing downtime. Further, the company offers Application-Aware Snapshot Agents that automate and minimize quiescence time during data replication, backup, and other snapshot-based operations; and Application Specific Recovery Options, which offer recovery solutions for database and messaging systems. It sells its products through original equipment manufacturers, value-added resellers, solution providers, system integrators, direct market resellers, and distributors. The company was founded in 1989 and is headquartere d in Melville, New York.
5 Best High Tech Stocks To Invest In Right Now: New York Community Bancorp Inc (NYCB.N)
New York Community Bancorp, Inc. is a bank holding company and a producer of multi-family mortgage loans in New York City, with an emphasis on apartment buildings that feature below-market rents. It has two bank subsidiaries: New York Community Bank (the Community Bank),New York Commercial Bank (the Commercial Bank. The Community Bank has 241 branches and operates through seven divisional banks. The Commercial Bank has 34 branches in Manhattan and operates 17 of its branches under the divisional name Atlantic Bank.
During the year ended December 31, 2011, all of the one-to-four family loans the Company originated was sold to government-sponsored enterprises (GSEs). In New York, the Company serves its Community Bank customers through Roslyn Savings Bank, with 55 branches on Long Island; Queens County Savings Bank, with 34 branches in the New York City borough of Queens; Richmond County Savings Bank, with 22 branches in the borough of Staten Island, and Roose velt Savings Bank, with eight branches in the borough of Brooklyn. As of December 31, 2011, in the Bronx and neighboring Westchester County, the Company had four branches that operated directly under the name New York Community Bank.
In New Jersey, the Company serves its Community Bank customers through 51 branches that operate under the name Garden State Community Bank. In Florida and Arizona, where it has 25 and 14 branches, respectively, the Company serves its customers through the AmTrust Bank (AmTrust) division of the Community Bank. In Ohio, the Company serves its Community Bank customers through 28 branches of Ohio Savings Bank. Customers of the Community Bank and the Commercial Bank have access to their accounts through 261 of its 285 automatic teller machines (ATMs) locations in five states. The Company also serves its customers through three Websites, which include www.myNYCB.com, www.NewYorkCommercialBank.com and www.NYCBfamily.com.
Lendi ng Activities
The Company�� principal asset i! s loans. Its loan portfolio consists of three components: covered loans, non-covered loans held for sale and non-covered loans held for investment. As of December 31, 2011, the balance of covered loans was $3.8 billion, of which $3.4 billion were one-to-four family loans. Non-covered loans held for sale consists of the one-to-four family loans that are originated for sale, primarily to GSEs. At December 31, 2011, the held-for-sale loan portfolio totaled $1.0 billion
As of December 31, 2011, loans held for investment consisted of loans that it originates for its own portfolio, and totaled $ 25.5 billion.
In addition to multi-family loans, loans held for investment include commercial real estate loans (CRE); acquisition, development and construction (ADC) loans; commercial and industrial loans (C&I), and one-to-four family loans. As of December 31, 2011, its multi-family loans represented $17.4 billion, or 68.3%, of total loans held for investment, and repr esented $5.8 billion, or 64.1%, of the total loans that it originated for investment. The multi-family loans it originates are typically secured by non-luxury apartment buildings in New York City. It also makes multi-family loans to property owners who are seeking to expand their real estate holdings by purchasing additional properties.
As of December 31, 2011, CRE loans represented $6.9 billion, or 26.9%, of total held for investment; ADC loans represented $445.7 million, or 1.7%, of total loans held for investment. Its ADC loan portfolio consists of loans that were originated for land acquisition, development, and construction of multi-family and residential tract projects in New York City and Long Island.
C&I loans represented $600.0 million, or 2.4%, of total held for investment. It also offers a range of loans to small and mid-size businesses for working capital (including in! ventory a! nd receivables), business expansion, and the purchase of equipment a nd machinery. Non-covered one-to-four family loans totaled $! 127.4 mil! lion at December 31, 2011.
Investment Activities
The Company�� securities portfolio primarily consists of mortgage-related securities, and debt and equity (other) securities. Its investments include GSE certificates, GSE collateralized mortgage obligations (CMOs) and GSE debentures. The Community Bank and the Commercial Bank are members of the Federal Home Loan Bank of New York (FHLB-NY), one of 12 regional Federal Home Loan Banks (FHLBs) consisting of the FHLB system. As of December 31, 2011, the Company�� securities represented $4.5 billion, or 10.8%, of total assets. As of December 31, 2011, 93.7% of its securities portfolio consisted of GSE obligations; held-to-maturity securities represented $3.8 billion, or 84.0%, of total securities, and its investment in bank-owned life insurance (BOLI) was $769.0 million.
Source of Funds
The Company has four primary funding sources. These include the deposits that it added thr ough its acquisitions or gathered through its branch network, and brokered deposits; wholesale borrowings, primarily in the form of FHLB advances and repurchase agreements with the FHLB and various brokerage firms; cash flows produced by the repayment and sale of loans, and cash flows produced by securities repayments and sales. As of December 31, 2011, deposits totaled $ 22.3 billion, which included certificates of deposit (CDs) of $7.4 billion; negotiable order withdrawal (NOW) and money market accounts of $8.8 billion; savings accounts of $ 4.0 billion, and non-interest-bearing accounts of $2.2 billion. As of December 31, 2011, the Company�� borrowed funds totaled $14.0 billion, loan repayments and sales generated cash flows of $15.0 billion, and securities sales and repayments generated cash flows of $4.2 billion.
Subsidiary Activities
As of December 31, 2011, C! ommunity ! Bank had 34 subsidiary corporations. Of these, 22 are direct subsidiaries of the Community Bank and 12 are subsidiaries of Community B! ank-owned! entities. The 22 direct subsidiaries of the Community Bank include DHB Real Estate, LLC, Mt. Sinai Ventures, LLC, NYCB Community Development Corp., NYCB Mortgage Company, LLC, Eagle Rock Investment Corp., Pacific Urban Renewal, Inc., Somerset Manor Holding Corp., Synergy Capital Investments, Inc., 1400 Corp., BSR 1400 Corp., Bellingham Corp., Blizzard Realty Corp., CFS Investments, Inc., Main Omni Realty Corp., NYB Realty Holding Company, LLC, O.B. Ventures, LLC, RCBK Mortgage Corp., RCSB Corporation, RSB Agency, Inc., Richmond Enterprises, Inc. and Roslyn National Mortgage Corporation.
The 12 subsidiaries of Community Bank-owned entities include Bronx Realty Funding Company, LLC, Columbia Preferred Capital Corporation, Ferry Development Holding Company, Peter B. Cannell & Co., Inc., Roslyn Real Estate Asset Corp., Walnut Realty Funding Company, LLC, Woodhaven Investments Inc, Your New REO, LLC, Ironbound Investment Company, Inc.,The Hamlet at Olde Oyster Bay, LLC, The Hamlet at Willow Creek, LLC and Richmond County Capital Corporation.
The two direct subsidiaries of the Commercial Bank include Beta Investments, Inc., and Gramercy Leasing Services, Inc. The two subsidiaries of Commercial Bank-owned entities include Omega Commercial Mortgage Corp. and Long Island Commercial Capital Corp.
Marks and Spencer Group plc, through its subsidiaries, engages in retailing clothing, food, and home products in the United Kingdom and internationally. Its clothing products include womenswear, lingerie, menswear, school wear, and kids wear; and shoes and slippers, as well as offers accessories, handbags and purses, bags and briefcases, ties, jewellery, and beauty products. The company also provides home and furniture products comprising bath linens and accessories, bedding, cookware, curtains and blinds, cushions and throws, dinnerware, domestic and small appliances, luggage, rugs, storage, lighting products, home accessories, and other furniture products for living and dining rooms, bathrooms, kids bedrooms, office, nursery, kitchen, and conservatory and garden. In addition, it offers various technology products, including sound and vision products, such as audio and iPods, blu-ray, DVD and home theater products, DVDs and blu-ray disks, digital photography personal alar ms, and TVs and accessories; computing and communication products consisting of computing and gaming products, and phones and accessories; beauty electrical products, which comprise shavers and grooming, electric toothbrushes, hair care products, and female beauty products; and home and kitchen appliances. Further, the company provides flowers and gifts that comprise bouquets, books and DVDs, flowers and plants, cards, and stationery products; and food and wine gifts, and personalized and wedding cakes, as well as offers procurement and financial services. It markets its products through operating 705 stores in the United Kingdom and 361 wholly owned, partly owned, and franchised stores internationally in 42 countries, as well as through online. The company was founded in 1884 and is headquartered in London, the United Kingdom.
5 Best High Tech Stocks To Invest In Right Now: Intl Northair Mines Ltd.(INM.V)
International Northair Mines Ltd., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in North America. It primarily explores for gold and silver, as well as zinc, lead, and copper. The company holds interests in the La Cigarra project consisting of 6 privately held concessions covering an area of approximately 335 hectares in State of Chihuahua, north central Mexico; the El Reventon project covering an area of approximately 3,400 hectares located in Durango, Mexico; and the Sierra Rosario project located in Sonora, Mexico. The company was founded in 1966 and is headquartered in Vancouver, Canada.
5 Best High Tech Stocks To Invest In Right Now: Sterling Resources Ltd (SLG.V)
Sterling Resources Ltd., an energy company, engages in the acquisition, exploration, development, and production of crude oil and natural gas. The company holds interests in various offshore and onshore properties located in the United Kingdom, Romania, the Netherlands, and France. Its primary projects include the Breagh project comprising 15 blocks in the greater Breagh area located in the southern North Sea; the Cladhan project consisting of 2 blocks, such as 210/29a and 210/30a in the northern North Sea; and the Ana/Doina project comprising Pelican and Midia blocks in the Black Sea offshore Romania. The company was formerly known as Peoples Oil Limited and changed its name to Sterling Resources Ltd. in February 1997. Sterling Resources Ltd. was incorporated in 1979 and is headquartered in Calgary, Canada.