Average rate on 30-year mortgage at 4.1%

WASHINGTON — Average U.S. rates on fixed mortgages fell for the second straight week and are at their lowest levels in four months.

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan declined to 4.10 percent from 4.13 percent last week. The average on the 15-year fixed loan eased to 3.20 percent from 3.24 percent.

Rates have been falling since September when the Federal Reserve surprised investors by continuing to buy $85 billion a month in bonds. The purchases are intended to keep long-term interest rates low.

Rates had spiked over the summer when the Fed indicated it might reduce those purchases later this year. But hiring has slowed since then. Many now expect the Fed won't taper until next year.

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The average on the 30-year loan has now fallen about half a percentage point since a hitting two-year high over the summer. The lower rates appear to be sparking a surge in activity by prospective homebuyers and homeowners looking to refinance.

Mortgage applications jumped 6.4 percent in the week ended Oct. 25 from the previous week, according to the Mortgage Bankers Association. Applications for purchases rose 2 percent from a week earlier, while refinance applications soared nearly 9 percent.

U.S. home prices rose in August from a year earlier at the fastest pace since February 2006, according to the latest Standard & Poor's/Case-Shiller 20-city home price index. But the price gains slowed in many cities from July, a sign that the spike in prices over the past year may have peaked.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country on Monday through Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mort! gage declined to 0.7 point from 0.8 point. The fee for a 15-year loan rose to 0.7 point from 0.6 point.

The average rate on a one-year adjustable-rate mortgage increased to 2.64 percent from 2.60 percent. The fee eased to 0.4 point from 0.5 point.

The average rate on a five-year adjustable mortgage dipped to 2.96 percent from 3.00 percent. The fee was unchanged at 0.4 point.

Wall Street stock futures eye Fed stimulus call

Stocks were sluggish Wednesday as investors looked ahead to the conclusion of the Federal Reserve's two-day monetary policy meeting where the expectation is that the central bank will keep its economic stimulus fully in place until next year.

In morning trading the Dow Jones industrial average and S&P 500 index were each up less than 0.1%. The Nasdaq composite was up about 0.1%.

JOBS DISAPPOINTMENT: 130,000 added in private sector

INFLATION: Consumer prices up a scant 0.2%

On Tuesday, the Dow gained 0.7% to 15,680.35 and the S&P 500 rose 0.6% to 1,771.95 as both indexes closed at all-time highs. The Nasdaq added 0.3%, to 3,952.34.

TUESDAY: Dow and S&P 500 close at record highs

In energy trading, benchmark crude for December delivery was down 48 cents at $97.72 in electronic trading on the New York Mercantile Exchange. The contract dropped 48 cents to settle Tuesday at $98.20.

Japan's Nikkei 225 ended up 1.2% at 14,502.35.

The major benchmarks in Europe traded higher by 0.2% or more.

iGATE Beats on Both Top and Bottom Lines

iGATE (Nasdaq: IGTE  ) reported earnings on July 17. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), iGATE beat slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share expanded significantly. GAAP earnings per share increased significantly.

Gross margins grew, operating margins contracted, net margins increased.

Revenue details
iGATE booked revenue of $283.3 million. The nine analysts polled by S&P Capital IQ foresaw revenue of $279.0 million on the same basis. GAAP reported sales were 5.7% higher than the prior-year quarter's $268.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.44. The nine earnings estimates compiled by S&P Capital IQ predicted $0.34 per share. Non-GAAP EPS of $0.44 for Q2 were 57% higher than the prior-year quarter's $0.28 per share. GAAP EPS of $0.38 for Q2 were 443% higher than the prior-year quarter's $0.07 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 37.9%, 50 basis points better than the prior-year quarter. Operating margin was 17.5%, 40 basis points worse than the prior-year quarter. Net margin was 10.6%, 590 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $285.2 million. On the bottom line, the average EPS estimate is $0.40.

Next year's average estimate for revenue is $1.13 billion. The average EPS estimate is $1.68.

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Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 202 members out of 210 rating the stock outperform, and eight members rating it underperform. Among 49 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 47 give iGATE a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on iGATE is hold, with an average price target of $20.14.

Is iGATE 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.

Add iGATE to My Watchlist.

Sharp declines in Asia pressure Wall Street

Wall Street was poised to start the last trading day of the week with modest losses as markets in Asia saw sharp declines.

Ahead of the start to regular trading, Dow Jones industrial average index futures fell 0.1%, Standard & Poor's 500 index futures fell 0.3% and Nasdaq 100 index futures dipped 0.1%.

On Thursday, the Dow rose 0.6% to 15,509.21. The S&P 500 added 0.3% to 1,752.07. The Nasdaq composite was up 0.6% to 3,928.96.

THURSDAY: Stocks close higher on positive earnings news

Asian stock markets were dragged down Friday by doubts about the durability of recoveries in the region's two biggest economies.

Japan released inflation figures that gave a mixed signal about the effectiveness of Prime Minister Shinzo Abe's economic revitalization strategy and Chinese central bank's failed to inject funds into money markets this week to curb frothy credit growth.

Japan's Nikkei 225 shed 2.8%, Seoul's Kospi fell 0.6%, Hong Kong's Hang Seng lost 0.6% and China's Shanghai composite index was down 1.4% at 2,139.80.

European shares moved lower, with benchmarks in Italy and Spain falling around 0.8%. There were more modest declines in the United Kingdom and Germany. The FTSE 100 index was down 0.1%. The DAX index lost 0.3%.

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In energy trading, benchmark U.S. crude for December delivery was up 12 cents at $97.23 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 25 cents to $97.11 on Thursday.

Contributing: Associated Press

Magna International's Top Strategist Steps Down

At some point, there comes a time to pursue interests beyond your job. For Herbert Demel, chief strategy officer at auto parts supplier Magna International (NYSE: MGA  ) , who turns 60 this year, that time is now.

The company announced today that Demel stepped down from his position with the company effective July 1 to pursue other interests. He will remain a "special advisor" to the company.

Demel joined Magna in 2002 and held various senior executive management roles within the company. He started his career at Bosch and went on to become chairman of Audi Ingolstadt, president of Volkswagen do Brasil, and CEO of Fiat Spa, Torino. Earlier this year he was appointed to a professorship at the Technical University of Vienna; he is a Vienna native, according to the company.

Of his resignation, Magna said he "requested the change to have more time and freedom to pursue other interests."

Magna International CEO Don Walker said: "We look forward to continuing to benefit from Dr. Demel's deep industry expertise and knowledge in his role as a special advisor on strategic matters to myself and the rest of the global executive management team."

No replacement has been named at this time.

link

Why Great Lakes Dredge & Dock's Earnings May Not Be So Hot

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 Great Lakes Dredge & Dock (Nasdaq: GLDD  ) , 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, Great Lakes Dredge & Dock burned $66.7 million cash while it booked a net loss of $3.3 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).

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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 Great Lakes Dredge & Dock 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 82.1% of operating cash flow coming from questionable sources, Great Lakes Dredge & Dock investors should take a closer look at the underlying numbers. Within the questionable cash flow figure plotted in the TTM period above, stock-based compensation and related tax benefits provided the biggest boost, at 83.8% 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 companies like Great Lakes Dredge & Dock, 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.

Add Great Lakes Dredge & Dock to My Watchlist.

Top 5 Undervalued Companies To Invest In Right Now

The stock market should seem attractive to you, because it's one of the best ways to build wealth and financial security for yourself over the long run. Averaging about 10% annually over long periods, it can turn a single $10,000 investment into almost $175,000 in 30 years. (So imagine what can happen if you invest more over time!) You have to be smart about it, though. Ideally, you'll keep learning how to invest in stocks more profitably for the rest of your investing life.

Learning how to invest in stocks effectively isn't hard, but many people never take the time to do it. Thus, they commit many classic blunders. Below are a few things that can cause you to get poor results when investing. Avoid these pitfalls and you'll likely boost your portfolio's performance.

Emotions
The classic maxim offered to those who want to learn how to invest in stocks is "Buy low, sell high." Yet despite that, many people do the opposite. They buy into stocks without a grasp of whether the stock is undervalued or overvalued. And if it suddenly heads south, they sell in a panic, locking in a loss instead of the hoped-for gain. Succumbing to fear and greed is a big no-no when investing. Choose stocks carefully after studying them, and aim to hang on for the long haul, as long as the underlying companies remain healthy, growing, and with sustainable competitive advantages. Expect ups and downs for your stocks and the overall market, and don't freak out when they occur.

Top 5 Undervalued Companies To Invest In Right Now: Tupperware Corporation(TUP)

Tupperware Brands Corporation operates as a direct seller of various products across a range of brands and categories through an independent sales force. The company engages in the manufacture and sale of kitchen and home products, and beauty and personal care products. It offers preparation, storage, and serving solutions for the kitchen and home, as well as kitchen cookware and tools, children?s educational toys, microwave products, and gifts under the Tupperware brand name primarily in Europe, Africa, the Middle East, the Asia Pacific, and North America. The company provides beauty and personal care products, which include skin care products, cosmetics, bath and body care, toiletries, fragrances, nutritional products, apparel, and related products principally in Mexico, South Africa, the Philippines, Australia, and Uruguay. It offers beauty and personal care products under the Armand Dupree, Avroy Shlain, BeautiControl, Fuller, NaturCare, Nutrimetics, Nuvo, and Swissgar de brand names. The company sells its Tupperware products directly to distributors, directors, managers, and dealers; and beauty products primarily through consultants and directors. As of December 26, 2009, the Tupperware distribution system had approximately 1,800 distributors, 61,300 managers, and 1.3 million dealers; and the sales force representing the Beauty businesses approximately 1.1 million. The company was formerly known as Tupperware Corporation and changed its name to Tupperware Brands Corporation in December 2005. The company was founded in 1996 and is headquartered in Orlando, Florida.

Advisors' Opinion:

• [By Arie Goren]

  After running this screen on May 21, 2013, before the markets' open, I discovered the following eight stocks: Sunoco Logistics Partners LP (SXL), Leggett & Platt Inc (LEG), Copa Holdings SA (CPA), RPC Inc. (RES), Tupperware Brands Corp. (TUP), Herbalife Ltd. (HLF), John Wiley & Sons Inc. (JW.A) and C.H. Robinson Worldwide Inc. (CHRW).

Top 5 Undervalued Companies To Invest In Right Now: Caterpillar Inc.(CAT)

Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. It operates through three lines of businesses: Machinery, Engines, and Financial Products. The Machinery business offers construction, mining, and forestry machinery, including track and wheel tractors, track and wheel loaders, pipelayers, motor graders, wheel tractor-scrapers, track and wheel excavators, backhoe loaders, log skidders, log loaders, off-highway trucks, articulated trucks, paving products, skid steer loaders, underground mining equipment, tunnel boring equipment, and related parts. It also manufactures diesel-electric locomotives; and manufactures and services rail-related products and logistics services for other companies. The Engines business provides diesel, heavy fuel, and natural gas reciprocating engines for Caterpillar machinery, electric power generation systems, marine, petrol eum, construction, industrial, agricultural, and other applications. It offers industrial turbines and turbine-related services for oil and gas, and power generation applications. This business also remanufactures Caterpillar engines, machines, and engine components; and offers remanufacturing services for other companies. The Financial Products business provides retail and wholesale financing alternatives for Caterpillar machinery and engines, solar gas turbines, and other equipment and marine vessels, as well as offers loans and various forms of insurance to customers and dealers. It also offers financing for vehicles, power generation facilities, and marine vessels. The company markets its products directly, as well as through its distribution centers, dealers, and distributors. It was formerly known as Caterpillar Tractor Co. and changed its name to Caterpillar Inc. in 1986. Caterpillar Inc. was founded in 1925 and is headquartered in Peoria, Illinois.

Advisors' Opinion:

• [By Dan Carroll]

  Finally, Caterpillar (NYSE: CAT  ) shares have fallen 1.9% today, putting it near the bottom of the index as well. This company's earnings also disappointed investors, and the international slowdown in Europe, China, and other leading economies has crippled Caterpillar's outlook. While there are signs of hope for the firm in the U.S. housing rebound, until China's economy picks up steam from its current lackluster growth -- or until some other economic mover and shaker fills the void -- Caterpillar will continue to feel the pressure.

• [By Travis Hoium]

  Another Dow stock sinking is Caterpillar (NYSE: CAT  ) , also down 1.9% after it was put on notice by short-seller James S. Chanos, who said he was shorting the stock because Caterpillar faces a lot of headwinds relating to the commodities market, where miners generate demand. If commodities demand drops in China, it will hit Caterpillar's sales and profit. The stock still pays a considerable 2.8% dividend yield and trades at just 12 times trailing earnings, but demand can swing wildly, and eventually China will have to stop its stimulus-fueled growth, which could have a big impact on demand. A short-seller's call isn't reason to dump the stock, but it may be a reminder to look at the macro picture and re-evaluate Caterpillar's prospects. �

Top Dividend Companies To Buy For 2014: Dollar Tree Inc.(DLTR)

Dollar Tree, Inc. operates discount variety stores in the United States and Canada. Its stores offer merchandise primarily at the fixed price of $1.00. The company operates its stores under the names of Dollar Tree, Deal$, Dollar Tree Deal$, Dollar Giant, and Dollar Bills. Its stores offer consumable merchandise, including candy and food, and health and beauty care, as well as household consumables, such as paper, plastics, household chemicals, in select stores, and frozen and refrigerated food; variety merchandise, which includes toys, durable housewares, gifts, party goods, greeting cards, softlines, and other items; and seasonal goods, such as Easter, Halloween, and Christmas merchandise. As of April 30, 2011, it operated 4,089 stores in 48 states and the District of Columbia, as well as 88 stores in Canada. The company was founded in 1986 and is based in Chesapeake, Virginia.

Advisors' Opinion:

• [By Rich Duprey]

  Deep discounter Dollar Tree (NASDAQ: DLTR  ) announced today that its current chief operating officer, Gary Philbin, will now also carry the title of president, a position previously held by company CEO Bob Sasser.

• [By Rising Dividend Investing]

  Falling Stock Correlation: What It Says About Consumer Spending

  As we mentioned in the Take Aways from the August 26th Investment Policy Committee meeting, the correlation index has been steadily declining. In 2008-09, macroeconomic events drove nearly every stock downwards. Specific sectors and stocks moved in tandem with one another. Today, stocks and sub-industries within each sector are performing very differently – which indicates a return to a more normal stock market environment.
  The Consumer Discretionary (also known as Consumer Cyclicals) sector is an example of an industry that has been rewarded for its fundamental success over the past 12 months. As a whole, the sector grew sales 6.1% and earnings 9.2% in the second quarter - much better than the 1.4% sales and 3.3% earnings growth of the S&P 500. While the overall sector did well in the second quarter, the table below shows how differently the 5 sub-categories of Consumer Discretionary performed:
  
  (click to enlarge)
  As we drill down even further, sub-categories of sub-sectors differ even more dramatically. Below is a snapshot of the Retailing sub-sector and its notable components:
  
  (click to enlarge)
  Specific stocks within each sub-category are varying in performance as well. General Merchandise retailers were significantly differentiated in the second quarter. Target’s (TGT) adjusted EPS were up 6.1% from 2012, while Dollar General (DG) and Dollar Tree’s (DLTR) earnings were up nearly 12% and 9%, respectively.
  The differences in sales and earnings growth amongst these different industries tell a story. The economy is not improving enough that people feel like they can let go and spend money on pure pleasures, but it is improving enough that they can afford to replace their cars and fix the doors on their houses. As these items wear out and need to be replaced, we expect the pent up demand will drive increased economic activity from cons
• [By ANUP SINGH]

  Dollar Tree (NASDAQ: DLTR  ) is among the most successful single-price-point retailers in the U.S. It operates more than 4,842 stores across 48 states in the U.S. and five Provinces in Canada. The chart below shows that the company has been performing consistently well over the past five years.

Top 5 Undervalued Companies To Invest In Right Now: Schlumberger N.V.(SLB)

Schlumberger Limited, together with its subsidiaries, supplies technology, integrated project management, and information solutions to the oil and gas exploration and production industries worldwide. The company?s Oilfield Services segment provides exploration and production services; wireline technology that offers open-hole and cased-hole services; supplies engineering support, directional-drilling, measurement-while-drilling, and logging-while-drilling services; and testing services. This segment also offers well services; supplies well completion services and equipment; artificial lift; data and consulting services; geo services; and information solutions, such as consulting, software, information management system, and IT infrastructure services that support oil and gas industry. Its WesternGeco segment provides reservoir imaging, monitoring, and development services; and operates data processing centers and multiclient seismic library. This segment also offers variou s services include 3D and time-lapse (4D) seismic surveys to multi-component surveys for delineating prospects and reservoir management. The company?s M-I SWACO segment supplies drilling fluid systems to improve drilling performance; fluid systems and specialty tools to optimize wellbore productivity; production technology solutions to maximize production rates; and environmental solutions that manages waste volumes generated in drilling and production operations. Its Smith Oilfield segment designs, manufactures, and markets drill bits and borehole enlargement tools; and supplies drilling tools and services, tubular, completion services, and other related downhole solutions. The company?s Distribution segment markets pipes, valves, and fittings, as well as mill, safety, and other maintenance products. This segment also provides warehouse management, vendor integration, and inventory management services. Schlumberger Limited was founded in 1927 and is based in Houston, Texas.

Advisors' Opinion:

• [By Taylor Muckerman and Joel South]

  Gulf of Mexico delivering boatloads of profit
  Already, several companies have spoken glowingly about activity levels in the Gulf of Mexico. Not just drillers like Noble Corp (NYSE: NE  ) �but also equipment and service companies like Halliburton (NYSE: HAL  ) and Schlumberger (NYSE: SLB  ) . What we are seeing here is a steady increase in both dayrates and utilization rates, which are both�very�positive signs for drillship operators.

• [By Seth Jayson]

  Schlumberger (NYSE: SLB  ) reported earnings on July 19. Here are the numbers you need to know.

  The 10-second takeaway
  For the quarter ended June 30 (Q2), Schlumberger met expectations on revenues and beat expectations on earnings per share.

• [By David Smith]

  It's now two to one among the big oil-field services companies regarding the North American oil and gas markets. Through Monday, Schlumberger (NYSE: SLB  ) , the largest company in the sector had expressed concern about the market and its short-term prospects, while Halliburton (NYSE: HAL  ) , the second-biggest member of the group, joined Baker Hughes (NYSE: BHI  ) in assessing our continent's activity levels more positively.

Best Gold Stocks To Invest In 2014

The fun continues at JPMorgan Chase (NYSE: JPM  ) for bank executives and bank investors. The New York Times is reporting today that the country's biggest bank is under investigation by the Federal Energy Regulatory Commission for "manipulative schemes" in the California and Michigan electric markets.�

This is less than a week after JPMorgan lost yet another top executive. The markets have responded to this news with a 1.02% drop in the share price.

Manipulative schemes and more
The Times' source for the breaking news is what was intended to be a confidential document sent by the federal government to the bank this past March. According to the document, the above-mentioned manipulative schemes allegedly "transformed 'money-losing power plants into powerful profit centers.'"

The document also said that "one of [JPMorgan's] most senior executives gave 'false and misleading statements'" under oath. That senior executive is reportedly Blythe Masters, the current head of JPMorgan's commodities business. She�is, perhaps, best known as one of the stars of Fool's Gold, the book by Financial Times' columnist Gillian Tett on the creation of the derivatives industry.

Best Gold Stocks To Invest In 2014: NEW GOLD INC.(NGD)

New Gold Inc. engages in the acquisition, exploration, extraction, processing, and reclamation of mineral properties. The company primarily explore for gold, silver, and copper deposits. Its operating properties include the Mesquite gold mine in the United States; the Cerro San Pedro gold-silver mine in Mexico; and the Peak gold-copper mine in Australia. The company also has development projects, including the New Afton gold, silver, and copper project in Canada; and a 30% interest in the El Morro copper-gold project in Chile. The company was formerly known as DRC Resources Corporation and changed its name to New Gold Inc. in June 2005. New Gold Inc. was founded in 1980 and is headquartered in Vancouver, Canada.

Advisors' Opinion:

• [By Ben Levisohn]

  Bridges favorite stocks include Goldcorp, Newmont, Eldorado Gold (EGO) and New Gold (NGD).

  Note, however, that these recommendations are all qualified in one way or another. Investors should keep that in mind before going all in on the gold miners.

• [By Ben Levisohn]

  Even bad news has failed to dent the rise in gold stocks today. NewGold (NGD), for instance, has gained 1.8% to $7.49 despite the fact that the wall of one of its mines collapsed. The Wall Street Journal has the details:

• [By Ben Levisohn]

  One group of stocks not feeling the optimism today: Gold miners. With fewer concerns that a U.S. attack on Syria will be disruptive and more evidence that tapering will begin this month, the price of the precious metal has dropped 1.6% to $1,388.90 an ounce–and gold stocks are falling with it. New Gold (NGD), for one, has dropped 3% to $6.55, while Barrick Gold (ABX) has fallen 1.3% to $19.25.

Best Gold Stocks To Invest In 2014: Golden Star Resources Ltd(GSS)

Golden Star Resources Ltd., a gold mining and exploration company, through its subsidiaries, engages in the acquisition, exploration, development, and production of gold properties. It owns and operates the Bogoso/Prestea gold mining and processing operation that covers approximately 40 kilometers of strike along the southwest-trending Ashanti gold district in western Ghana; and the Wassa open-pit gold mine located to the east of Bogoso/Prestea in southwest Ghana. The company also has an 81% interest in the Prestea underground gold mine located in Ghana. In addition, it holds interests in various gold exploration projects in Ghana, Sierra Leone, Burkina Faso, Niger, and Cote d?Ivoire, as well as holds and manages exploration properties in Brazil in South America. The company was founded in 1984 and is based in Littleton, Colorado.

Advisors' Opinion:

• [By Sean Williams]

  Golden Star Resources (NYSEMKT: GSS  )
  It's simple physics: The bigger they are, the harder they fall. When gold prices nosedived earlier this week, gold miners with historically higher operating costs took the brunt of the hit. For the most part, that meant that development-stage miners, and those operating in Africa, where labor and political costs make cost-effective mining a challenge, took it on the chin. Possibly no stock was hammered more than Golden Star Resources, a gold miner in Ghana, which lost about one-quarter of its value on Monday alone.

• [By Rich Duprey]

  Clash of the titans
  When bears are raging on the gold bullion market, it's not surprising to see gold stocks getting mauled as well. Golden Star Resources (NYSEMKT: GSS  ) was the biggest loser in the sector, losing a quarter of its market cap on no company-specific news, though a report last Friday indicated that a large number of hedge funds had recently dumped their positions in the mid-tier miner. Yet it wasn't all that much better among the majors, either, as Barrick Gold (NYSE: ABX  ) fell almost 13% and Kinross Gold (NYSE: KGC  ) was down 14%.

10 Best Financial Stocks To Watch Right Now: Goldman Sachs Group Inc.(The)

The Goldman Sachs Group, Inc., together with its subsidiaries, provides investment banking, securities, and investment management services to corporations, financial institutions, governments, and high-net-worth individuals worldwide. Its Investment Banking segment offers financial advisory, including advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense, risk management, restructurings, and spin-offs; and underwriting securities, loans and other financial instruments, and derivative transactions. The company?s Institutional Client Services segment provides client execution activities, such as fixed income, currency, and commodities client execution related to making markets in interest rate products, credit products, mortgages, currencies, and commodities; and equities related to making markets in equity products, as well as commissions and fees from executing and clearing institutional client transactions on stock, options, and fu tures exchanges. This segment also engages in the securities services business providing financing, securities lending, and other prime brokerage services to institutional clients, including hedge funds, mutual funds, pension funds, and foundations. Its Investing and Lending segment invests in debt securities, loans, public and private equity securities, real estate, consolidated investment entities, and power generation facilities. This segment also involves in the origination of loans to provide financing to clients. The company?s Investment Management segment provides investment management services and investment products to institutional and individual clients. This segment also offers wealth advisory services, including portfolio management and financial counseling, and brokerage and other transaction services to high-net-worth individuals and families. In addition, it provides global investment research services. The company was founded in 1869 and is headquartered in New York, New York.

Best Gold Stocks To Invest In 2014: Claude Resources Inc.(CGR)

Claude Resources Inc. engages in the acquisition, exploration, and development of precious metal properties, as well as production and marketing of minerals in Canada. It primarily explores for gold in northern Saskatchewan and northwestern Ontario. The company holds interests in the Seabee gold mine located at Laonil Lake, northern Saskatchewan; and the Madsen property that consists of 6 contiguous claim blocks totaling approximately 10,000 acres, located in the Red Lake Mining District of northwestern Ontario. It also holds interest in the Amisk Gold project, which covers an area of 13,800 hectares in the province of Saskatchewan. The company was founded in 1980 and is based in Saskatoon, Canada.

Best Gold Stocks To Invest In 2014: Agnico-Eagle Mines Limited(AEM)

Agnico-Eagle Mines Limited, through its subsidiaries, engages in the exploration, development, and production of mineral properties in Canada, Finland, and Mexico. The company primarily explores for gold, as well as silver, copper, zinc, and lead. Its flagship property includes the LaRonde mine located in the southern portion of the Abitibi volcanic belt, Canada. The company was founded in 1953 and is based in Toronto, Canada.

Advisors' Opinion:

• [By Holly LaFon]

  He increased his holdings in gold companies in the fourth quarter accordingly. Gold stocks he found attractive in the fourth quarter are: Novagold Resources (NG), Randgold Resources (GOLD), Iamgold Corp. (IAG), Barrick Gold Corp. (ABX), Agnico Eagle (AEM) and International Tower Hill (THM).

Best Gold Stocks To Invest In 2014: CME Group Inc.(CME)

CME Group Inc. operates the CME, CBOT, NYMEX, and COMEX regulatory exchanges worldwide. The company provides a range of products available across various asset classes, including futures and options on interest rates, equity indexes, energy, agricultural commodities, metals, foreign exchange, weather, and real estate. It offers various products that provide a means of hedging, speculation, and asset allocation relating to the risks associated with interest rate sensitive instruments, equity ownership, changes in the value of foreign currency, credit risk, and changes in the prices of commodities. CME Group owns and operates clearing house, CME Clearing, which provides clearing and settlement services for exchange-traded contracts and counter derivatives transactions; and also engages in real estate operations. Its primary trade execution facilities consist of its CME Globex electronic trading platform and open outcry trading floors, as well as privately negotiated transact ions that are cleared and settled through its clearing house. In addition, the company offers market data services comprising live quotes, delayed quotes, market reports, and historical data services, as well as involves in index services business. CME Group?s customer base includes professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, producers, and governments. It has strategic partnerships with BM&FBOVESPA S.A., Bursa Malaysia Derivatives, Singapore Exchange Limited, Green Exchange, Dubai Mercantile Exchange, Johannesburg Stock Exchange, and Bolsa Mexicana de Valores, S.A.B. de C.V., as well as joint venture agreement with Dow Jones & Company. The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. CME Group was founded in 1898 and is headquartered in Chicago, Illinois.

Advisors' Opinion:

• [By Eric Volkman]

  CME Group (NASDAQ: CME  ) is staying consistent for the moment in terms of shareholder payouts. The company has declared a dividend for its Q2 of $0.45 per share, to be paid on June 25 to shareholders of record as of June 10.�That amount matches CME Group's previous distribution, which was paid at the end of March.

• [By Ben Levisohn]

  But even with markets trading in a range since July, there was plenty of action in individual stocks, even as earnings season nears an end. CME Group (CME), for instance, gained 4% to $74.44, its biggest move two months, after the exchange operator said trading volume in its Brent crude oil futures contracts climbed above 100,000 for the first time on Aug. 8. CME is trying to woo traders away from IntercontinentalExchange’s (ICE) dominant futures contract. Xerox (XRX), meanwhile, finished up 3.4% at $10.49 after Citigroup upgraded its stock to Buy from Neutral and the company announced that it would acquire a Canadian company.

• [By Russ Krull]

  CME Group (NASDAQ: CME  ) made a market for its own debt, selling $750 million of 5.3% 30-year paper. The money will be used to redeem $750 million of 5.75% paper maturing next February. The refi will save CME a little more than $3 million per year in debt service.

• [By Holly LaFon]

  Within equities, we believe that most companies will be negatively impacted by rising interest rates, but we did identify some exceptions. For example, the CME Group is a Chicago-based operator of numerous trading exchanges including a large volume of 铿�ed income futures contracts. Higher interest rates and greater interest rate volatility tends to be a catalyst for greater trading volumes, and hence, greater revenue for CME (CME). The company was our top-performing U.S. investment in the last three months with gains of nearly 30%. The insurance industry is another area that we believe can offer resilience in the face of rising rates. This quarter we added to our positions in Manulife Financial in Canada, AmTrust Financial in the U.S., and introduced U.K.-based Aon to our international portfolio. Many of our insurance companies enjoyed strong performance this quarter and helped offset the declines suffered within the 铿�ed income portfolio.

Best Gold Stocks To Invest In 2014: Iamgold Corporation(IAG)

IAMGOLD Corporation, together with its subsidiaries, engages in the exploration, development, and production of mineral resource properties worldwide. It primarily explores for gold, silver, zinc, copper, niobium, diamonds, and other metals. The company holds interests in eight operating gold mines, a niobium producer, a diamond royalty, and exploration and development projects located in Africa and the Americas. Its advanced exploration and development projects include the Westwood project in Canada; and the Quimsacocha project, which consists of 3 mining concessions covering an aggregate area of approximately 8,030 hectares in Ecuador. The company was formerly known as IAMGOLD International African Mining Gold Corporation and changed its name to IAMGOLD Corporation in June 1997. IAMGOLD Corporation was founded in 1990 and is based in Toronto, Canada.

Advisors' Opinion:

• [By Rich Duprey]

  IAMGOLD (NYSE: IAG  ) still has an interest in the�Quimsacocha gold mine it sold to INV Metals last year, which has an indicated mineral resource estimated at 3.3 million ounces gold. China's�Ecuacorriente is also pursing a major copper project at Panantza-San Carlos, and International Minerals will seek out gold and silver at Rio Blanco.

• [By Eric Volkman]

  IAMGOLD (NYSE: IAG  ) might specialize in a precious metal, but it's continuing to pay its dividend in hard currency. The company has declared its latest semi-annual distribution at $0.125 per share of its common stock.

• [By Namitha Jagadeesh]

  HSBC Holdings Plc (HSBA), Europe�� largest bank, slid 2.1 percent. International Consolidated Airlines Group SA (IAG) declined 2 percent as it canceled some of its flights following a disruption caused by one of its planes at Heathrow airport. Next Plc (NXT) retreated 2.4 percent as Morgan Stanley cut its recommendation on the shares.

• [By Matt DiLallo]

  IAMGOLD (NYSE: IAG  )
  Canadian gold miner IAMGOLD pays a semiannual dividend of $0.125 per share, which equates to a current yield of about 4.45%. As the company's name would imply, its revenues are generated by its gold-mining operations. Currently, the company has six gold mines across three continents as well as several potential projects in the works. The company's current priorities given the slumping gold market include cash preservation, cost reduction, and disciplined capital allocation. While the dividend looks safe for now, given the company's stated policy of not jeopardizing is strong balance sheet, it could be reduced if gold prices fall further. �

Best Gold Stocks To Invest In 2014: First Majestic Silver Corp.(AG)

First Majestic Silver Corp. engages in the production, development, exploration, and acquisition of mineral properties with a focus on silver in Mexico. The company owns interests in La Encantada Silver Mine comprising 4,076 hectares of mining rights and 1,343 hectares of surface land located in Coahuila; La Parrilla Silver Mine consisting of mining concessions covering an area of 69,867 hectares; and San Martin Silver Mine comprising approximately 7,841 hectares of mineral rights and approximately 1,300 hectares of surface land rights located in Jalisco. It also holds interests in Del Toro Silver Mine consisting of 393 contiguous hectares of mining claims and an additional 129 hectares of surface rights located in Zacatecas; Real de Catorce Silver Project comprising 22 mining concessions covering 6,327 hectares located in San Luis Potosi state; and Jalisco Group of Properties consisting of mining claims totalling 5,240 hectares located in Jalisco. The company was founded in 1979 and is headquartered in Vancouver, Canada.

Advisors' Opinion:

• [By Doug Ehrman]

  In terms of individual companies, there are several good choices, but these can behave very differently. Pan American Silver (NASDAQ: PAAS  ) , for example, missed revenue expectations and beat earnings expectations in its last earnings release. But despite the beat, EPS shrank considerably from a year earlier on a GAAP basis. The stock has been fairly flat ever since. Conversely, First Majestic (NYSE: AG  ) reported strong revenue growth and a small bump in profits, sending the stock higher since the announcement. First Majestic reported increased cash costs and tightening margins, largely driven by lower silver prices. Each of these companies faces pressure from increasing production costs and environmental concerns.

• [By Doug Ehrman]

  Despite the weakness seen in precious metals a few weeks ago, silver has been relatively stable ever since mid-April, with the iShares Silver Trust (NYSEMKT: SLV  ) trading in a dollar-wide range ever since. With the presidents of the Chicago and Philadelphia Federal Reserve banks��releasing conflicting statements, turmoil may be just around the corner. Miners like Pan American (NASDAQ: PAAS  ) and First Majestic (NYSE: AG  ) are still facing operating challenges, while silver streaming darling Silver Wheaton (NYSE: SLW  ) struggles as well.

• [By Doug Ehrman]

  While many precious-metals companies have been in a slump of late, there is one that belongs perpetually in your portfolio: Silver Wheaton (NYSE: SLW  ) . The company is not like other miners -- including Pan American Silver (NASDAQ: PAAS  ) and First Majestic (NYSE: AG  ) -- in that it has a unique business plan that insulates it against many of the vagaries of the mining business. Moreover, because silver will always have a significant industrial demand component, even with the heightened volatility you see in the silver market, maintaining exposure to silver is appropriate.

• [By Doug Ehrman]

  It is no secret that precious metals companies have been taking a pounding for some time now. The SPDR Gold Trust (NYSEMKT: GLD  ) and iShares Silver Trust (NYSEMKT: SLV  ) , the gold and silver ETFs, have been hard hit and operating companies like First Majestic (NYSE: AG  ) and Barrick Gold (NYSE: ABX  ) have been hit even harder. Through all of these struggles, and in some cases because of them, one precious metals company continues to look attractive for the long term: Silver Wheaton (NYSE: SLW  ) .

General Electric (GE) Mulls Further Restructuring

NEW YORK (TheStreet) -- General Electric (GE) executives, after reporting third-quarter earnings, revealed they would continue restructuring initiatives to boost efficiency.

"We continue to have good opportunities for restructuring throughout the company and I would expect us to do some in the fourth quarter," said CEO Jeffrey Immelt during a conference call. "If we have gains, we expect those to be offset with restructuring."

CFO Jeffrey Bornstein added that the more simplified GE becomes, the more cost-efficient and customer-centric it will be.

"Every day we identify more opportunities to do what we do smarter -- more shared services, a smaller manufacturing footprint, rationalizing capacity, executing our functions in a more consolidated way," he said. Third-quarter revenue was $35.73 billion, lower than an estimated $35.96 billion and down 1.5% from $36.25 billion a year ago. Restructuring in GE Capital, the company's financial arm, and negative currency exchanges contributed to the decline. The Fairfield, Connecticut-based company recorded operating earnings 3% lower than the year-ago quarter to $3.7 billion, or 36 cents a share. Excluding restructuring expenses and other one-time charges, operating earnings was 40 cents a share. GE also reported a record $229 billion of backlog in equipment and services which puts the company in good stead for the fourth quarter and into 2014. Shares were up 3.5% to $25.55 by market close Friday, leading the S&P 500 which gained 0.65%.  TheStreet Ratings team rates General Electric Co as a Buy with a ratings score of B. The team this to say about its recommendation: "We rate General Electric Co (GE) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins, increase in stock price during the past year, notable return on equity and increase in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated." You can view the full analysis from the report here: GE Ratings Report Written by Keris Alison Lahiff.

The Deal: Wet Seal Sale Awaits as Turnaround Continues

NEW YORK (The Deal) -- Wet Seal (WTSL), the teen apparel retailer, will continue its turnaround efforts for the next six months and then eye a sale of the company, said a source familiar with the situation. 

Those recent turnaround efforts include increasing square footage through new store openings, particularly in outlet stores, and launching a plus-size apparel offering. 

Though some of those efforts have paid off, success is not guaranteed. After reporting that consolidated comparable stores sales increased 3.7% for the fiscal second quarter ended Aug. 3, with net income at $1 million compared to a loss of $12 million year-over-year, Wet Seal also on Oct 15 lowered its third-quarter guidance, saying it expected a net loss of between 10 cents and 12 cents per share, as compared to previously announced 2 cents and 3 cents per share. 

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But that should be taken against a backdrop of a year when most youth clothing retailers came off of poorer than expected back-to-school results.  Wet Seal did not immediately respond to a request for comment.  Activist hedge fund Clinton Group Inc. holds the keys to a possible sale of the company with four board seats that it snagged last year after the company settled a bitterly contested consent solicitation.  With the hedge fund firmly ensconced on the board, the company chose its new chief executive John Goodman, who led The Gap's (GPS) outlet business at one point in his 20-plus-year apparel retail career. He was brought on board in January to resuscitate the purveyor of teen clothing, replacing Susan McGalla, who was sacked the previous July because of falling sales.  And Goodman may be, once again, trying to dress up a retailer for sale.  The chief executive oversaw the recent sale process of Charlotte Russe Holding Inc. as its CEO. The retailer announced a strategic review at the beginning of 2009, shortly after Goodman joined to run it in November of 2008, ending with a buyout deal with private equity firm Advent International Corp. for $380 million in Aug. 2009.  Wet Seal's uneven financial performance in recent years is due not only to the vicissitudes of an industry susceptible to consumer spending trends, but also because of the highly competitive nature of the teen apparel sector, which has heated up with fast fashion entrants such as Forever 21 Inc., H&M and Zara.  Wet Seal had revenues of $580 million and negative EBITDA of nearly $26 million for its fiscal year ended Feb. 2, 2013, compared to the previous year's results of $620 million in revenues and EBITDA of nearly $49 million. For next year, analysts estimate that revenues will be about $574 million and nearly $13 million in EBITDA, according to Bloomberg. 

Despite the company's struggles, another person familiar with the situation said its turnaround is working as it opens new stores, including outlets, has a strong management team in place and a healthy balance sheet. 

And as of Aug. 3, the company said it had nearly $80 million in cash, cash equivalents and short-term investments and no debt. 

At one point, Clinton Group had advocated for a sale of the company. 

"From a strategic-buyer perspective, the company has a fantastic footprint - it's in the best malls and has the best locations inside the malls," Greg Taxin, Clinton Group's managing director, told The Deal last August.  Taxin said at the time that the company could be a bargain for a PE buyer. "We also believe there is and will continue to be private equity interest - the business used to do $60 million of EBITDA, but it's underperformed lately."  And, in July 2012, Clinton Group senior portfolio manager Joseph De Perio suggested in a report that Wet Seal could fetch $5 to $8 per share.  Sources told The Deal last fall that investment bank Peter J. Solomon Co. LP was fielding offers for the company.  By the fall of 2012 the hedge fund was more interested in stabilizing the company, hiring an executive who could return the teen fixation to a position of strength.  KarpReilly Capital Partners LP, which not only was a bidder for Charlotte Russe, but hired former Wet Seal CEO Ed Thomas, who is a partner at the firm, has looked at the company in the past, sources said.  Another potential bidder could include Advent - especially given the Goodman relationship. Other private equity firms that are known for investing in troubled retailers include Sun Capital Partners Inc., Golden Gate Capital and Sycamore Partners.

Wet Seal's 60-day moving average share price was $3.60 as of Thursday; its market capitalization was about $304.4 million.

Written by By Richard Collings.

Vanguard consolidates five funds

Bloomberg

The Vanguard Group Inc. announced Wednesday that it plans to consolidate five of its mutual funds and has increased individual-investor access to its lower-cost Admiral Shares by eliminating Signal Shares.

The $16.3 billion Vanguard Developed Markets Index Fund will be merged with the $18.4 billion Vanguard Tax-Managed International Fund. The company explained that the funds share similar holdings and seek to track the same benchmark, the FTSE Developed ex-North America Index.

The combined fund is keeping the name of Vanguard Developed Markets Index Fund.

Two funds tracking the S&P 500 Index will also be merged. The $3 billion Vanguard Tax-Managed Growth and Income Fund will be merged with the $143 billion Vanguard 500 Index Fund. Shareholders of the Tax-Managed fund will benefit from the lower expense ratio of 0.05% of the Admiral Shares of the 500 Index fund.

The $738 million Vanguard Growth Equity Fund will also be merged with the $4.4 billion Vanguard U.S. Growth Fund. Both funds are actively-managed large-cap growth funds, and shareholders of the Growth Equity fund will experience a reduction in annual cost following the merger from 0.54% down to 0.45% for Investor Shares and 0.31% for Admiral Shares.

The $804 million Vanguard Managed Payout Distribution Focus Fund and the $110 million Vanguard Managed Payout Growth Focus Fund are being consolidated into the $531 million Vanguard Managed Payout Growth and Distribution Fund, which will be renamed Vanguard Managed Payout Fund.

Regarding the increased access to Admiral Shares, Vanguard announced it is “gradually phasing out Signal Shares.”

Along those lines Vanguard has changed the name of eight of its index funds from Signal Shares to Admiral Shares, a move that enables individual investors with a $10,000 minimum investments to qualify for the lower-cost shares.

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Also beginning Wednesday, Vanguard is eliminating the $10,000 minimum investment required for financial advisers and institutions to qualify for Admiral Shares of 14 index funds, and the $100,000 minimum required for Admiral Shares 10 sector index funds.

Vanguard is also eliminating the $10,000 minimum for financial advisers and institutions to qualify for Admiral Shares 17 index funds that currently offer Signal Shares. Vanguard will convert these Signal Shares to Admiral Shares in October 2014.

Energy stocks follow debt talk; Tesoro falls

SAN FRANCISCO (MarketWatch) — Energy stocks ended a see-sawing day in the red, with investors eying developments in Washington but not holding much hope for a solution.

Negotiations to avert a potential default and reopen the government were halted late Tuesday. The government is facing a Thursday deadline to raise its debt limit.

Some of the proposals on the table included some temporary fixes: extending the borrowing limit till February and opening the government through December.

The day's negative tone was also set by weak earnings for Citigroup Inc.

Click to Play Cyclone slams India

Though Cyclone Phailin caused only a few deaths when it smashed into India's eastern coast over the weekend, farmers and fishermen were hit hard as homes, boats, crops and infrastructure were washed away across the subcontinent.

Citigroup (C)  missed analyst expectations, reporting adjusted earnings of $1.02 a share for the third quarter.

Among energy stocks on the S&P 500 Index, refiner Phillips 66  (PSX)  was the worst hit, with shares off 1.6%.

Other top decliners included coal producer Peabody Energy Corp. (BTU) , with shares down 1.3%, and Cabot Oil & Gas Corp. (COG)  , off 1.1%

Tesoro Corp. (TSO)  shares declined 0.5%.

A unit of Tesoro said Monday it is developing a plan to reroute a pipeline that ruptured in North Dakota, leading to the spill of about 20,000 barrels of oil onto a wheat field. Tesoro Logistics declined to give any details of the plan, which will be shared with federal authorities.

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Among advancers, WPX Energy Inc. (WPX) rose 3.2%.

Major oil and gas companies were lower, with shares of Exxon Mobil Corp. (XOM)  down 0.9%. Chevron Corp. (CVX)  shares retreated 0.4%, while shares of ConocoPhillips (COP)  were off 0.1%.

The SPDR Energy Select Sector (XLE) , an exchange-traded fund focused on energy names, ended the day 0.4% lower.

Poll: Half of older workers plan to retire later

CHICAGO (AP) — Older Americans, stung by a recession that sapped investments and home values, but expressing widespread job satisfaction, appear to have accepted the reality of a retirement that comes later in life and no longer represents a complete exit from the workforce.

Some 82% of working Americans over 50 say it is at least somewhat likely they will work for pay in retirement, according to a poll released Monday by the Associated Press-NORC Center for Public Affairs Research.

The survey found 47% of working survey respondents now expect to retire later than they previously thought and, on average, plan to call it quits at about 66, or nearly three years later than their estimate when they were 40. Men, racial minorities, parents of minor children, those earning less than $50,000 a year and those without health insurance were more likely to put off their plans.

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About three-quarters of working respondents said they have given their retirement years some or a great deal of thought. When considering factors that are very or extremely important in their retirement decisions:

78% cited financial needs75% said health68% their ability to do their job 67% said their need for employer benefits such as health insurance

Graphic designer Tom Sadowski, 65, of Virginia, had expected to retire this year, but the recession caused his business to fail and his savings to take a hit. With four teenage daughters, he knew he had to put retirement off.

"At this age, my dad had already been retired 10 years and moved to Florida," he said. "Times are different now for most people."

The shift in retirement expectations coincides with a growing trend of later-life work. Labor force participation of seniors fell for a half-century after the advent of federal Social Securit! y pensions, but began picking up in the late 1990s. Older adults are now the fastest-growing segment of the American workforce; people 55 and up are forecast to make up one-fourth of the civilian labor force in 2020.

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That growth has paralleled a rising interest in retirements that are far more active than the old stereotype of moving to Florida, never to work again. Among those who retired, 4% are looking for a job and 11% are already working again. Those still on the job showed far greater interest in continuing to work: Some 47% of employed survey respondents said they are very or extremely likely to do some work for pay in retirement, and 35% said they are somewhat likely.

"The definition of retirement has changed," said Brad Glickman, a certified financial planner with a large number of baby-boomer clients in Maryland. "Now the question we ask our clients is, 'What's your job after retirement?'"

Increased lifespans and a renewed idea of when old age begins are also fueling more work among older adults. Six in 10 people said they feel younger than their age; only 6% said they feel older. Respondents said the average person is old at about 72. One in 5 said it depends on the person.

The AP-NORC Center survey was conducted Aug. 8 through Sept. 10 by NORC at the University of Chicago, with funding from the Alfred P. Sloan Foundation, which makes grants to support original research and whose Working Longer program seeks to expand understanding of aging Americans' work patterns.

It involved landline and mobile phone interviews in English and Spanish with 1,024 people aged 50 and older nationwide. Results from the full survey have a margin of sampling error of plus or minus 4.1 percentage points.

Though a roughly equal share of survey participants reported feeling secure about their retirement savings as feeling anxious, a si! gnificant! minority gave signs of financial stress: One in 6 reported having less than $1,000 in retirement savings and 1 in 4 working respondents aren't saving for retirement outside of Social Security. Some 12% of unretired people reported borrowing from a 401(k) or other retirement plan in the past year. Though 29% reported at least $100,000 in savings, some find even that's not enough.

AP Director of Polling Jennifer Agiesta and News Survey Specialist Dennis Junius contributed to this report.

The Most Tax-Friendly States For Business

Taxes are necessary for a functioning government, but according to one group, many states are crippling regional business growth with tax structures that are too expensive or complex.

The Tax Foundation's 2014 State Business Tax Climate Index graded all 50 states based on more than 100 measures that reflect how competitive a state's tax policies are to both large and small businesses. The report considered state income, corporate, property, sales, and unemployment insurance tax policies. As was the case last year, Wyoming had the best business tax climate in the country, while New York had the worst. Based on the Tax Foundation's report, these are the most tax-friendly states for business.

Click here to see the most tax-friendly states

As might be expected, several of the states rated best for business have among the lowest corporate tax rates in the country. However, several states with much higher corporate tax rates are also among the most tax-friendly for business, according to Tax Foundation data. Alaska and New Hampshire, for example, had the first- and second-highest corporate tax collections per capita in fiscal 2011, respectively, but they still made the list.

States with high corporate tax rates ranked higher overall because they scored much better in other forms of taxes. Alaska levies no personal income tax, while New Hampshire has no sales tax.

The Tax Foundation considered other taxes in addition to corporate taxes because it believes all taxes affect a state's business environment. Tax Foundation economist Scott Drenkard explained that the report included income taxes, for example, because 94% of all business filings are through this tax, and not corporate taxes.

Drenkard also added that personal income tax and the other taxes considered affect businesses’ ability to attract employees. "Individual income taxes matter because businesses are trying to attract labor to their state. If the choice is between New York City, which has as high as a 12% income tax, and, say, Charlotte, North Carolina, where you have much more moderate income tax burdens, all else equal, people might go with the lower-tax option."

Another important factor in the rankings is the simplicity of states' tax codes. One way of ensuring this, Drenkard explained, is by eliminating certain taxes altogether. Of the 10 top-ranked states, eight eschew at least one of the major taxes. Wyoming has no individual income tax or corporate income tax. "Going without one of the individual taxes means that all of that overhead cost, all of that economic waste associated with tax compliance, goes away."

A review of the states with the best taxes for business does appear to show a healthier economy and lower unemployment. As of August, unemployment was lower than the U.S. rate of 7.3% in eight of the 10 states. Seven of the 10 states with the worst tax policy for business, on the other hand, had higher rates.

However, that the states with best tax climates have stronger economies may have less to do with their tax structure and more to do with abundant natural resources. Wyoming, Alaska, Utah, and Montana all benefit from substantial oil, natural gas, coal, or other mineral reserves. Drenkard noted that this natural advantage is the reason they are able to levy less harsh taxes in the first place.

Not all groups agree with the Tax Foundation's assessment that higher and more taxes hurt state businesses. Carl Davis, senior analyst at the Institute on Taxation and Economic Policy, said, "The problem is that when you look at taxes in isolation — counting the number of dollars that come in — you miss the reason states are collecting taxes in the first place: to fund government services."

As an example, Davis gave Maryland, which recently raised the gas tax rate to improve its roads and bridges. "This will likely hurt the state on the Tax Foundation's business climate rankings, but one of the reasons the state raised the tax was that businesses were clamoring for it,” said Davis. “Businesses recognized that a well-funded infrastructure that's not falling apart and can get employees to jobs on time and move products around the state efficiently is tremendously important to their bottom line."

Based on the Tax Foundation's 2014 State Business Tax Climate Index, 24/7 Wall St. reviewed the 10 states with the best and worst business tax environments. Unemployment rates are from the Bureau of Labor Statistics for August 2013. State debt and revenue figures are from the Tax Foundation for fiscal 2011, the most recent available year. Income, poverty, employment composition, and state expenditure data are from the U.S. Census Bureau's 2012 American Community Survey.

These are the most tax-friendly states for business.

Zalicus Gives us Another Trade-Worthy Reversal (ZLCS)

The hot and cold cycle for Zalicus Inc. (NASDAQ:ZLCS) continues to repeat itself. The fourth such turn of that wheel looks like it's getting ready to begin, and if this is one anything like the last three, ZLCS is due for a rally of anywhere between 25% to 50%. Traders who hop on that wave shouldn't tarry, however, because if the budding rally is anything like the last three, it's still only going to lead to a pullback about half the size of the gain. Still, a sizeable double-digit gain isn't bad for a few days' worth of work.

If the name or ticker rings a bell, it might be because yours truly has been following all the twists and turns of the ZLCS saga since August 30th. That's the day it was deemed a buy, though that call was reversed - and rightfully so - on September 4th, after a 31% runup but before an 11% dip. As was also noted on the 4th of September, however, Zalicus Inc. would be a buy again once a pullback was and key support lines were proven to be floors again. That happened all throughout September, and sure enough, shares were catapulted from $4.58 on the 26th to a high of $8.28 on October 2nd. Though the warning from October 1st may have been a day early, it wasn't an ill-advised recommendation. ZLCS only traded briefly higher that next day, and began the 28% pullback that looked inevitable (to me) the day before.

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I don't reprise the ongoing saga of Zalicus to pat myself on the back, however. Believe me, every time I bring it up and have to post something bearish or pessimistic on the stock, I catch an inordinate amount of flack for doing so ... even if the call is just a short-term one. I'm reprising the story now just to say, the pullback I was worried about back on the 1st has run its course, and ZLCS looks like a buy again.

The chart tells the story. Friday's dip was something of a blowout - a mini capitulation characterized by high volume and a big move lower. That in itself implies something of a flushoout of all the weak owners and would-be profit takers. More encouraging was how even before Friday's session was over, Zalicus Inc. started to recover, closing around the middle of that day's trading range.

The clincher came today, however, with the simple fact that ZLCS followed through on Friday's upside move. Things started weakly, but the bulls quickly dug back in again to hammer out a gain. Though volume is light so far, the reversal and follow-through speaks volumes.

Assuming this turnaround is like the last few, Zalicus could make its way all the way to just under $9.00 before hitting a headwind. And yes, I'll be suggesting selling it again there. Nothing personal - just (trading) business. Just keep in mind the last three calls I made were all on target.

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Alamy Do you get smarter as you get older, or does time slowly erode your cognitive abilities? A recent study from the University of California at Riverside and Columbia University, with the mind-bending title "Complementary Cognitive Capabilities, Economic Decision Making and Aging," has the answer. Researchers tested a group of 20-somethings and people in their 60s and 70s in various financial subjects such as basic financial literacy, knowledge about debt, tolerance for risk and how much the participants thought about their financial futures. Despite a general loss of mental acuity, the older group did better than the younger test-takers in virtually every category. How is that? The researchers explained the results by teasing apart two different kinds of intelligence. Fluid intelligence involves short-term memory, problem solving and the ability to manipulate information and process it quickly. Crystallized intelligence consists of a "stable repository of knowledge acquired through experiences, culture and education." As we age, we lose fluid intelligence, but gain crystallized intelligence. "For decisions that rely heavily on processing new information, it is likely that the negative effects of aging will outweigh its positive effects relatively early in middle age," the study concludes. "On the other hand, if the decision relies on recognizing previously learned patterns in a stable environment, age may be an advantage."

10 Best Low Price Stocks To Invest In 2014

Everything was looking great with my new investment. 

The stock had been steadily climbing higher since my purchase in early January. This company was among the original members of the S&P 500 and once ranked among the Dividend Aristocrats. Members of this exclusive list have raised their dividends annually for 25 consecutive years. Talk about a vote of confidence! 

However, the company was dropped from that list recently. Not because of an issue with its dividends -- but because it no longer had the minimum $3 billion market capitalization to remain a member. 

In addition, sales had been slipping over the past several years. Counterbalancing the bad news, the company was still creating decent cash flow, producing solid returns on invested capital and trading at relatively low price. 

10 Best Low Price Stocks To Invest In 2014: Top Image Systems Ltd.(TISA)

Top Image Systems Ltd. provides enterprise solutions for managing and validating content entering organizations from various sources. It develops and markets automated data capture solutions for managing and validating content gathered from customers, trading partners, and employees. The company?s solutions deliver digital content to the applications that drive an enterprise by using technologies, such as wireless communications, servers, form processing, and information recognition systems. It offers eFLOW Unified Content Platform that provides the common architectural infrastructure for its solutions. The company also provides Smart, an automated classification solution, which is the eFLOW plug-in for unstructured content providing single point of entry for information entering the organization; and Freedom, the eFLOW plug-in for semi-structured content that enables customers to identify and capture critical data from semi-structured documents, such as invoices, purchase orders, shipping notes, and checks. In addition, it offers Integra, the eFLOW plug-in for structured content, which provides a solution for data capture, validation, and delivery from structured predefined forms; eFLOW Ability, an integrated module interfacing with SAP systems for automated parking, approval, and posting of invoices and other document within SAP systems; and eFLOW Invoice Reader, an invoice capture and approval solution, which could be deployed and integrated in enterprise accounting environment, such as SAP, Oracle, and other financial systems. Top Image Systems Ltd. sells its products through a network of value-added distributors, systems integrators, original equipment manufacturers, and partners in approximately 40 countries worldwide. It has strategic partnership with SQN Banking Systems (SQN) to incorporate SQN's fraud detection solutions with its eFLOW Banking Platform in the Asia Pacific market. The company was founded in 1991 and is headquartered i n Ramat Gan, Israel.

10 Best Low Price Stocks To Invest In 2014: Caribou Coffee Company Inc.(CBOU)

Caribou Coffee Company, Inc. owns and operates coffeehouses. The company offers premium coffee and espresso-based beverages, as well as specialty teas, handcrafted beverages, foods, coffee lifestyle items, branded merchandise, and related products. It also sells whole bean and ground coffee to grocery stores, mass merchandisers, office coffee providers, airlines, hotels, sports and entertainment venues, college campuses, and online customers. In addition, the company sells blended coffees and licenses its Caribou Coffee brand to Keurig, Inc. for sale and use in its K-Cup single serve line of business. Further, Caribou Coffee Company franchises its brand to partners to operate Caribou Coffee branded kiosks and coffeehouses, as well as sells Caribou Coffee branded products to partners for resale in these franchised locations. As of July 3, 2011, it operated 407 company-owned coffeehouses located in 16 states and the District of Columbia; and 147 franchised coffeehouses in th e United States and international markets. The company was founded in 1992 and is based in Brooklyn Center, Minnesota.

Advisors' Opinion:

• [By Holly LaFon] ou Coffee is a gourmet coffee company that owns the second-largest number of coffeehouses in the U.S. After rising significantly in the second quarter of 2011, its stock price dropped in the fourth quarter, when Joel Greenblatt purchased it. He bought 52,794 shares at an average price of $13.27.

  The company has increased revenue and EBITDA almost every year since 2005, reaching $284 million and $22.4 million, respectively, in 2010. Its return on equity and return on assets also turned positive in 2009 and increased in 2010; return on assets increased from 10.1 percent in 2009 to 15 percent in 2010, and return on assets increased 6 percent to 9.2 percent in 2010. Free cash flow, which Greenblatt typically considers highly important, has been positive only two years since 2005, in 2008 and 2009.

  Cofeehouse sales have increased for the last eight quarters, including 4.1 percent in the quarter ended Oct. 2, 2011. Much of the company�� sales growth has come because it has begun selling food.

  The outlook for Caribou�� growth is also positive. Daily coffee consumption increased to 40 percent of 18-24 year olds in 2011 from 31 percent of the age group in 2010, returning to its 2009 level, according to the National Coffee Drinking Study from the National Coffee Association. Caribou recently began growing as well. In the third quarter of 2011, it opened three company-owned stores, its first in over three years, and in the fourth quarter, it opened five more. For 2012, it plans to open 55 to 70 new locations and issued fiscal year 2012 net sales growth guidance of 10 percent.

  Caribou�� P/E, P/S and P/B ratios:

  CBOU pe,ps,pb Interactive Chart

  See Joel Greenblatt�� portfolio here and also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of Joel Greenblatt.

Top 5 Safest Stocks For 2014: Fisher(j)

James Fisher and Sons plc, together with its subsidiaries, provides marine services and specialist engineering services in the United Kingdom, Ireland, Norway, and internationally. The company operates through four segments: Specialist Technical Services, Offshore Oil Services, Defence, and Marine Oil. The Specialist Technical Services engages in the hire and sale of large scale pneumatic fenders; provision of ship to ship transfer services; and design and supply of systems for monitoring strains and stress in structures and equipment. This segment also offers non-destructive testing services; and design, engineering, and manufacturing services for the nuclear decommissioning industries. The Offshore Oil Services segment manufactures and rents equipment for the offshore oil and gas industry; and designs and manufactures specialist down hole tools and equipment for extracting oil. This segment also offers related specialist labor, such as cranes, winches and pumps to the of fshore sector, wind farms, and for subsea operations. The Defence segment designs, constructs, and operates submarine rescue vehicles and remotely operated vehicles; and operates surface ships. It offers marine services to the Ministry of Defence (MoD) and other navies, including the United Kingdom; maintenance, asset management, and consultancy services; military strategic sealift capability through its operation of six roll on ? roll off vessels for the MoD; and submarine rescue services to the government of Singapore. The Marine Oil segment is involved in the sea transportation of clean petroleum products in north west Europe; and wharf operations. The company was founded in 1847 and is headquartered in Barrow-in-Furness, the United Kingdom.

10 Best Low Price Stocks To Invest In 2014: Kelly Services Inc. (KELYB)

Kelly Services, Inc., together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates in seven segments: Americas Commercial, Americas Professional and Technical, EMEA Commercial, EMEA Professional and Technical, APAC Commercial, APAC Professional and Technical, and Outsourcing and Consulting Group. It offers trained employees who work in word processing, data entry, and clerical and administrative support roles; staff for contact centers, technical support hotlines, and telemarketing units; instructional and non-instructional employees for schools; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers; and temporary and full-time placement services, as well as direct-hire placement and vendor on-site management services. The company also provides scientific and clinical research workforce s olutions; engineering professionals and information technology specialists across various disciplines; creative services, finance and accounting, healthcare, and legal professionals; and talent management solutions to the U.S. federal government. In addition, it offers staffing services for catering and hospitality, industrial, human resources, sales and marketing, procurement, and general management areas. Further, the company provides integrated talent management solutions, including contingent workforce outsourcing, business process outsourcing, recruitment process outsourcing, independent contractor solutions, payroll process outsourcing, career transition and organizational effectiveness, and executive search. Kelly Services, Inc. was founded in 1946 and is headquartered in Troy, Michigan.

10 Best Low Price Stocks To Invest In 2014: Office Depot Inc.(ODP)

Office Depot, Inc., together with its subsidiaries, supplies office products and services. Its North American Retail division sells an assortment of merchandise, such as general office supplies, computer supplies, business machines and related supplies, and office furniture under various labels, including Office Depot, Viking Office Products, Foray, Ativa, Break Escapes, Niceday, and Worklife through its chain of office supply stores. It also provides printing, reproduction, mailing, shipping, and other services, as well as personal computer support and network installation service. As of December 25, 2010, this division operated 1,147 office supply stores in the United States and Canada. The company?s North American Business Solutions division sells nationally branded and private brand office supplies, technology products, furniture, and services to small- to medium-sized customers through a dedicated sales force, catalogs, and Internet. Its International division sells o ffice products and services through direct mail catalogs, contract sales forces, Internet sites, and retail stores using a mix of company-owned operations, joint ventures, licensing and franchise agreements, alliances, and other arrangements. As of December 25, 2010, it sold its office products to customers in 53 countries in North America, Europe, Asia, and Latin America. This division operated, through wholly-owned or majority-owned entities, 97 retail stores in France, Hungary, South Korea, and Sweden; and participates under licensing and merchandise arrangements in South Korea, Thailand, India, Israel, Japan, and the Middle East. The company was founded in 1986 and is headquartered in Boca Raton, Florida.

Advisors' Opinion:

• [By Amanda Alix]

  Last Friday saw Target and a slew of others,�such as JCPenney (NYSE: JCP  ) and Office Depot (NYSE: ODP  ) , file their own lawsuits, citing the same complaints as the Walmart crew. In response, Visa and MasterCard have sued right back, requesting a judge to rule in favor of the card issuers' fee structure and implementation practices.

• [By Michael Lewis]

  Foolish bottom line
  Though I was not a fan of brick-and-mortar Staples, I am inclined to take a deeper look at its slimmer self. The company seems to be shifting to a more asset-light, high-ROIC, low-capex model that resembles that of growth companies -- tech in particular. The company is planning to pay down nearly $870 million in debt this year, and still has $1.4 billion in cash and equivalents. A year-end enterprise value of roughly $10 billion (an approximation) implies an EV/FCF ratio of 11.1 times. For comparison, Office Depot (NYSE: ODP  ) expects $10�million to $20 million in free cash flow for the year, implying an EV/EBITDA of 64 times to 128 times. On an EV/EBITDA basis, however, the two look nearly identical.

10 Best Low Price Stocks To Invest In 2014: Splunk Inc (SPLK)

Splunk Inc. (Splunk) provides a software platform. Splunk�� software collects and indexes data regardless of format or source, and enables users to search, correlate, analyze, monitor and report on this data, all in real time. Its software is designed to help users in various roles, including information technology (IT) and business professionals, analyze machine data and realize real-time visibility into and about their organization's operations. The core of its software is a machine data engine, comprised of collection, indexing, search and data management capabilities. Its software can collect and index terabytes of information daily, irrespective of format or source. As of January 31, 2012, the Company had approximately 3,700 customers.

The Company�� software enables users to identify problems, get answers and gain new business insights and intelligence from machine data across their globally distributed enterprise all through one platform. Its software contains features and functionality, such as Universally collect, index, store and archive any machine data, from any source, search and investigate, user-friendly interface, knowledge store, monitor and alert, report and analyze, custom dashboards and views, platform extensibility, role-based access and controls.

The Company competes with BMC Software, Inc., CA, Compuware, HP, IBM, Intel, Microsoft Corporation, Quest Software, Adobe Systems, Google, Webtrends, EMC, Oracle and SAP.

Advisors' Opinion:

• [By Paul Ausick]

  Big earnings movers: Salesforce.com Inc. (NYSE: CRM) is up 12.5% at $49.11 and posted a new 52-week high of $49.94 today. Krispy Kreme Doughnuts Inc. (NYSE: KKD) is down $15 at $19.74. Splunk Inc. (NASDAQ: SPLK) is up 12.8% at $55.18 after posting a new 52-week high of $55.83 earlier today. Big Lots Inc. (NYSE: BIG) is up 2.3% at $35.42. ReneSola Ltd. (NYSE: SOL) is up 8% at $4.75.

• [By Seth Jayson]

  Splunk (Nasdaq: SPLK  ) reported earnings on May 30. Here are the numbers you need to know.

  The 10-second takeaway
  For the quarter ended April 30 (Q1), Splunk beat expectations on revenues and met expectations on earnings per share.

• [By Anders Bylund]

  Data analysis specialist Splunk's (NASDAQ: SPLK  ) first-quarter report was a bit of a head-scratcher.

  Splunk shares took a 4% nosedive when the report was published, because its revenues came in strong but earnings were merely adequate. Revenue jumped 54% year over year to $57.2 million, easily topping Wall Street's $54 million target. The adjusted $0.06 loss per share was right in line with analyst expectations. That's just not good enough when your last three reports absolutely crushed Street targets on the bottom line, at least in percentage terms. The backlash was strong enough to suck data analysis rival TIBCO Software (NASDAQ: TIBX  ) down into a 1.5% drop in early Friday trading. There must be something wrong with this supposedly robust market, right?

10 Best Low Price Stocks To Invest In 2014: Marifil Mines Limited (MFM.V)

Marifil Mines Ltd. engages in the acquisition, exploration, and evaluation of mineral resource properties in Argentina. It explores for silver, gold, copper, nickel, limestone, potash, sulfur, zinc, lithium, lead, indium, platinum, cobalt, uranium, and base metals, as well as for oil and gas in Rio Negro, San Luis, Chubut, Neuquen, Mendoza, Salta, Santa Cruz, and Catamarca provinces. The company was incorporated in 2003 and is based in Vancouver, Canada.

10 Best Low Price Stocks To Invest In 2014: Ross River Minerals Inc (RRM.V)

Ross River Minerals Inc., a junior resource company, engages in the acquisition, exploration, and development of gold and copper-gold properties in Canada and Mexico. Its projects include the Tay-LP property that consists of 413 contiguous mineral claims covering 8,600 hectares and is located in the Yukon Territory, Canada; and the El Pulpo property, which covers approximately 20,000 hectares and is located in Sinaloa State, Mexico. The company is headquartered in Vancouver, Canada.

10 Best Low Price Stocks To Invest In 2014: Outback Metals Ltd (OUM)

Outback Metals Limited is a company engaged in the exploration for gold and other economic mineral deposits. The Company holds 100% interest in the Wingates Gold Project, which is located approximately 250 kilometers (km) south of Darwin and 120 km east of the Wadeye township. Its Mt Wells poly-metallic project (tin/copper/tungsten/gold) is located approximately 200 km south of Darwin and has both granted mining tenements (MLN 164, 165, 196 to 200, 463, 465 to 467, 658, 672, 679 and MCN 723 and 2631) and, apart from a joint venture with Australasia Gold Limited on exploration license EL22301, ELA 28549 is 100% owned by the Company. The Company also holds 100% interest in the Maranboy and Yeuralba tin field projects, which are located approximately 64 km south east of Katherine. As of June 30, 2011, the Company's wholly owned subsidiaries included Corporate Developments Pty Ltd, Softwood Plantations Pty Ltd and Victory Polymetallic Pty Ltd, among others.

10 Best Low Price Stocks To Invest In 2014: Diamondcore Ltd (BCD.TO)

Delrand Resources Limited engages in the acquisition, exploration, and development of diamond properties in the Democratic Republic of the Congo (DRC). The company has interests in the Tshikapa project comprising 9 exploration permits in the Tshikapa area in the Province of Kasai in southern DRC; and the DRC North project consisting of 46 exploration permits, of which the company holds 2 permits directly, and the balance permits through an option agreement with the holder of the permits. Its DRC North project is located in Province Orientale in northern DRC. Delrand Resources Limited also has a 25% interest in an iron ore project in the DRC. The company was formerly known as BRC DiamondCore Ltd. and changed its name to Delrand Resources Limited in June 2011. Delrand Resources Limited was incorporated in 1990 and is headquartered in Toronto, Canada.

Top Insider Trades: NSH KAR XLRN IMH

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By Jonathan Moreland, founder of Insider Insights and author of Profit From Legal Insider Trading.

NEW YORK (TheStreet) -- It is a victory for common sense. Tracking the trading behavior of company executives, directors and large shareholders in the stocks of firms they're registered in as "insiders" has proven to be profitable, according to both academic studies and (more importantly) the experience of professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Thursday, Sept. 26, 2013, as ranked by dollar value. Please note, however, that these are only factual lists, not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant. At InsiderInsights.com, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing. So use these regular Top Insider Trades columns as the initial research tools they are meant to be, and click the links in the tables to analyze a company's or insider's full insider history. Also feel free to contact us with any questions on our proprietary insider data, and how it is best analyzed.

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