Four years ago, Dendreon (DNDN) was the darling of the biotech sector with a promising cancer vaccine awaiting FDA approval and a stock price sitting above $50 a share.
Today, Dendreon sits just above $2 and CEO John Johnson is out the door after resigning for what the company calls ��ersonal reasons.��Cantor Fitzgerald analyst Maria Goldstein asks if this is �� step down or a step forward��for the financially troubled biotech firm.
She writes:
On the one hand, Johnson’s departure was unexpected. Yet on the other hand, the company is at a critical juncture with modest cash left, a large debt overhang and struggling commercial operations that has yet to fully gain buy-in from the clinical community that it serves. With major layoffs already occurring, and losses of the CFO and the head of commercial operations in the past year, perhaps Johnson’s departure is not so unexpected. Nonetheless, we think the only question really to be answered is whether Mr. Johnson’s exit will force a meaningful change in the sales trend for Provenge.
Hot Net Payout Yield Stocks To Invest In Right Now: Newfield Exploration Co (NFX)
Newfield Exploration Company (Newfield), incorporated on December 5, 1988, is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. The Company�� domestic areas of operation include the Mid-Continent, the Rocky Mountains and onshore Texas. Internationally, it focuses on offshore oil developments in Malaysia and China. As of December 31, 2011, it was in the process of drilling 16 gross (9.6 net) exploitation wells and 24 gross (19.7 net) development wells domestically. As of December 31, 2011, internationally, it was drilling one gross (0.6 net) exploratory well in Malaysia. In May 2011, the Company acquired assets in the Uinta Basin of Utah.
Resource Plays
As of December 31, 2011, the Company owned an interest in approximately 825,000 net acres in the Rocky Mountains area. Its assets are oil. It is an operator in the state of Utah, consisting approximately 30% of the state�� total oil production. It has approximately 230,000 net acres in the Uinta Basin and its operations in the Basin can be divided into two areas: its legacy Monument Butte and its position in the Central Basin, located immediately north and adjacent to Monument Butte. It has approximately 1,800 oil wells in the Green River formation in its Monument Butte field. Its acquisition of acreage north of Monument Butte added approximately 65,000 net acres, including the Uteland Butte and Wasatch formations. During the year ended December 31, 2011, it had drilled approximately 20 wells in these new plays with encouraging results. As of December 31, 2011, its net production from the Uinta Basin was approximately 22,000 barrels of oil equivalent per day.
The Company has approximately 65,000 net acres under development on the Nesson Anticline of North Dakota and west of the Nesson. In addition, it has about 40,000 net acres in the mature Elm Coulee field, located in Richland County, Montana. As of December 31, 2011, it had! drilled 67 wells in North Dakota with production from the Bakken formation. Its acreage is also prospective for the Sanish/Three Forks formation. As of December 21, 2011, its net production was approximately 7,500 barrels of oil equivalent per day. It has approximately 340,000 net acres in the Southern Alberta Basin of northern Montana. Its activities in the Mid-Continent have been focused on two natural gas plays - the Arkoma Woodford and the Granite Wash. As of December 31, 2011, it had approximately 480,000 net acres in the Mid-Continent and its production was approximately 330 millions of cubic feet equivalent per day.
The Company has more than 300,000 net acres in Oklahoma�� Woodford play. Approximately 170,000 net acres are in the Arkoma Woodford Basin. As of December 31, 2011, its net daily production in the Arkoma Woodford was approximately 180 millions of cubic feet equivalent per day. As of December 31, 2011, it had more than 125,000 net acres in the Cana Woodford play, located in the Anadarko Basin. The Company has approximately 50,000 net acres in the Granite Wash, located in Oklahoma and the Texas Panhandle. As of December 31, 2011, its net production from the region was approximately 101 millions of cubic feet equivalent per day. Its producing field in the Granite Wash includes Stiles/Britt Ranch, where it operates and owns 17,000 net acres. During 2011, it ran three to four operated rigs in the Granite Wash. It has approximately 317,000 net acres in the Eagle Ford and Pearsall shales in the Maverick Basin, located in Maverick, Dimmit and Zavala counties, Texas. As of December 31, 2011, it completed a total of 54 wells in the basin and its production was approximately 3,800 barrels of oil equivalent per day. The acreage includes multiple geologic horizons, including the Georgetown, Glen Rose, Pearsall, Austin Chalk and the Eagle Ford.
Conventional Plays
The Company has operations in conventional plays onshore Texas, offshore Malaysia and China and! in the G! ulf of Mexico. As of December 31, 2011, it owned an interest in approximately 147,000 net acres in conventional onshore Texas plays with net production of approximately 88 millions of cubic feet equivalent per day. Its international activities are focused on offshore oil developments in Southeast Asia and China. It has production and active developments offshore Malaysia and the People�� Republic of China. As of February 21, 2012, its net production from Malaysia was at 29,000 barrels of oil equivalent per day. It has an interest in approximately 925,000 net acres offshore Malaysia and approximately 290,000 net acres offshore the People�� Republic of China.
As of December 31, 2011, the Company owned interests in 91 deepwater leases and approximately 275,000 net acres. As of December 31, 2011, its net production from the Gulf of Mexico was approximately 75 millions of cubic feet equivalent per day. In February 2012, production commenced from its deepwater Pyrenees development, with net daily production of approximately 3,300 barrels of oil equivalent per day.
Advisors' Opinion:- [By Matt DiLallo]
Oil and gas producers face many risks, with weather being one that could really impact a company's results if it's focused on just one play. This is where a producer like�Newfield Exploration� (NYSE: NFX ) , for example, can have a leg up on more focused producers. Newfield, which operates in four major U.S. basins, including the Bakken, can move its capital around if it runs into issues with the weather or prices. The plan this year is to spend about 16% of its capex budget on the Bakken, which will produce 25% oil production growth year over year. The flexibility of working in multiple basins has enabled Newfield to work around weather and infrastructure challenges in the Bakken to grow its overall oil and natural gas liquids production by 39% this year.
- [By Ben Eisen]
Oil company Pioneer Natural Resources Co. (PXD) �fell 3%. Drilling company Noble Corp. PLC (NE) �fell 4.1%. Oil firm Newfield Exploration Co. (NFX) �slipped 3.5% and Halliburton Co. (HAL) �fell 3.3%.
- [By Dimitra DeFotis]
Newfield Exploration (NFX) shares are down more than 4% today. Newfield reported earnings that missed analyst expectations�yesterday. In addition, Newfield said it would sell Granite Wash assets worth $588 million, which didn’t fit the “high-return, scalable resource plays” where Newfield has better margins for drilling and well completions. �Newfield produces�oil, natural gas and natural gas liquids in the central U.S. — the so-called “mid-continent,” as well as in the Rocky Mountains and in Texas.
- [By Ben Levisohn]
The S&P 500 got a lift from Sysco (SYY), which gained 10% to $37.62 after purchasing a competitor,� Davita HealthCare Partners (DVA), which rose 6.7% to $62.17, and Cabot Oil & Gas (COG), which reported stronger than expected production in the Marcellus region. Big losers include Newfield Exploration (NFX), which dropped 8% to $24.33 after offering disappointing production guidance, and Edwards Lifesciences (EW), which fell 5.4% to $62.73 after releasing disappointing earnings guidance.
Top Promising Companies To Watch For 2014: Wolseley PLC (WOS)
Wolseley plc is a specialist trade distributor of plumbing and heating products to professional contractors and a supplier of building materials in North America, the United Kingdom and Continental Europe. The Company operates in seven segments: USA, UK, Canada, Nordic, France, Central and Eastern Europe, and Group. On September 1 2009, the Company acquired Decorative Product Source, Inc, a company engaged in the distribution and supply of construction materials and services. On January 8, 2010, the Company disposed of 100% of Wolseley Ireland Holdings Limited, which comprised all the Company's businesses in the Republic of Ireland and the Brooks business in Northern Ireland. In November 2011, the Company announced that it had completed the sale of its remaining interest in Stock Building Supply to The Gores Group. In April 2012, the Company sold its Brossette, the French Plumbing and Heating business to Saint Gobain. In October 2012, the Company acquired Davis & Warshow, Inc. Advisors' Opinion:- [By Inyoung Hwang]
Wolseley Plc (WOS) added 3.1 percent to 3,296 pence, its largest gain in more than five weeks. The world�� biggest distributor of plumbing and heating products said so-called trading profit in the 12 months through July climbed to 725 million pounds ($1.2 billion) from 665 million pounds a year earlier. Analysts had predicted earnings of 704 million pounds, according to the average of 20 estimates compiled by the company. Wolseley proposed a special dividend payout of 300 million pounds.
Top Promising Companies To Watch For 2014: DTE Energy Company(DTE)
DTE Energy Company, together with its subsidiaries, operates as an electric and natural gas utility company in Michigan. It also involves in non-utility operations. The company?s Energy Utility segment engages in the generation, purchase, distribution, and sale of electricity in southeastern Michigan. It generates electricity from various fuels, including coal, as well as from nuclear and hydro facilitates. As of December 31, 2010, this segment owned and operated approximately 674 distribution substations and approximately 412,100 line transformers; and supplied electricity to 2.1 million residential, commercial, and industrial customers in southeastern Michigan. The company?s Gas Utility segment engages in the purchase, storage, transmission, distribution, and sale of natural gas in Michigan. As of December 31, 2010, this segment?s distribution system included approximately 19,000 miles of distribution mains, 1,036,000 service lines, and 1,319,000 active meters. It also o wned approximately 2,000 miles of transmission lines that deliver natural gas; and supplied natural gas to approximately 1.2 million residential, commercial, and industrial customers throughout Michigan, as well as to approximately 17,000 customers in Adrian, Michigan. The company?s non-utility operations include natural gas pipelines and storage; unconventional gas exploration, development, and production; power and industrial projects, and coal transportation and marketing; and energy marketing and trading operations. Its customers include electric utilities, merchant power producers, integrated steel mills, and industrial companies. DTE Energy Company was founded in 1995 and is based in Detroit, Michigan.
Advisors' Opinion:- [By Seth Jayson]
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 DTE Energy (NYSE: DTE ) , whose recent revenue and earnings are plotted below.
Top Promising Companies To Watch For 2014: BKI Investment Company Ltd (BKI)
BKI Investment Company Limited, operates in the securities industry in Australia. The Company invests in a diversified portfolio of Australian shares, trusts and interest bearing securities. The Company�� investment objective is to generate an increasing income stream for distribution to its shareholders in the form of fully franked dividends, to the extent of its available imputation tax credits, through long-term investment in a portfolio of assets that are also able to deliver long term capital growth to shareholders. During the fiscal year ended June 30, 2012, the Company invested $26.5 million into the market with major purchases including Westpac Banking Corporation, National Australia Bank, Wesfarmers Limited and Fleetwood Corporation. The Company also divested a number of holdings including BlueScope Steel, Echo Entertainment, Transfield Services, Suncorp Metway Preference Shares, Westpac Preference Shares (WBCPA) and half of the position in Westpac Preference Shares (WBCPB). Advisors' Opinion:- [By Chris Hill]
In this installment of Motley Fool Money, our analysts explain why they're watching Buckeye Technologies (NYSE: BKI ) , Bristow Group (NYSE: BRS ) , and Western Union (NYSE: WU ) .
- [By Rich Smith]
Privately held (by the Koch Bros.) paper and pulp company Georgia-Pacific has agreed to acquire Buckeye Technologies (NYSE: BKI ) for the princely sum of $1.5 billion, Buckeye announced this morning.
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