Hot Buzz: LDK Solar Co., Ltd (ADR) (NYSE:LDK), J.C. Penney Company, Inc.(NYSE:JCP), First Midwest Bancorp Inc(NASDAQ:FMBI)
Lakeway, NY — (MARKET NEWS CALL) — 11/21/2013 — Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market about the small and penny stocks, issues news alert on LDK Solar Co., Ltd (ADR) (NYSE:LDK), J.C. Penney Company, Inc.(NYSE:JCP), First Midwest Bancorp Inc(NASDAQ:FMBI).
LDK Solar Co., Ltd (ADR)(NYSE:LDK) has secured an RMB1.56B ($256M) credit facility (good through Nov. 2016) from a syndicate of 11 Chinese commercial banks. (PR)The funds can only be used finance LDK’s operations in China’s Jiangxi Province, and can’t be “used to service any existing indebtedness, whether onshore or offshore.” LDK states each drawdown will be made “in the absolute discretion of the syndicate and will be subject to additional conditions,” such as early repayment.LDK, whose debt/cash flow woes have led it to miss out on this year’s huge solar stock rally, ended Q2 holding just $85.1M in cash, and over $2.6B in debt. Q3 results are due on Nov. 26.
If I was a long/short guy, I’d be worried, Tepper tells Bloomberg TV. Growth is good, inflation is low, rates are low … “We’re going to get 20% (in the markets) next year … I”m worried by long/short friends are going to lose their jobs.” Can markets correct 5-10% amid the taper? Of course.Of his J.C. Penney Company, Inc.(NYSE:JCP) stake, he’s pleased with the big move higher over the past month, but it’s strictly a trade on a stock that had gone down too far too fast. He remains long Citigroup (C) and calls it a $70 stock.Talking a bit more about his Treasury call, he says he’s short even though he considers it an impossibility for the 10-year Treasury to get over 3.5%-3.75%. “I’d bet anything on that.”The 10-year/2-year Treasury spread is at 251 basis points, within shouting distance of the record 292 basis points. To believe the 10-year Treasury yield can rise another 100 bps (while the Fed holds the short end down) is to believe an existing record will be smashed.
First Midwest Bancorp Inc(NASDAQ:FMBI) declares $0.07/share quarterly dividend, 75.0% increase from prior dividend of $0.04.Forward yield 1.60%Payable Jan 14; for shareholders of record Dec. 20; ex-div Dec. 18.
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