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Wal-Mart (WMT) Stock Buy Back Best For Company?

06/07/13 by  
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Stocks were heading substantially higher and the DOW was up a full 1% after the jobs report was released on Friday morning. The Labor Department announced that there was an addition of 175,000 jobs in May, which surpassed analysts expectations of an increase of 163,000. However the unemployment rate still ticked up slightly to 7.6%. Analysts were expecting the rate to stay the same as it was in April sitting at 7.5%. When averaged out, the economy has added nearly 176,000 new jobs every month over the past 12 months. When averaged out between November through February there is a much higher reading of 237,000. The report also showed that there were fewer jobs added in April than originally announced. Jobs in April were downwardly revised from the original 165,000 to 149,000. March was upwardly revised from the original 138,000 to 142,000. Rick Meckler, president of hedge fund LibertyView Capital Management LLC, said “This kind of Goldilocks recovery is what people are looking for.”


Alexander & Baldwin Inc. announced that they will be purchasing Grace Pacific Corp. for $235 million. A&B is a highly popular Hawaiian based landowner and real estate investor while Grace Pacific is a construction company. The total purchase will be 85% of A&B stock and 15% cash and the company will assume nearly $42 million of Grace Pacific’s debt. Stanley Kuriyama, A&B Chairman, said that this venture will allow them to act quickly on new real estate opportunities in Hawaii. A&B is one of Hawaii’s most active real estate investors and the fourth largest private landowner in Hawaii.


Wal-Mart  Inc (WMT) announced that their board approved a new $15 billion stock buyback program at their annual meeting on Friday. This will be the first in over two years. The announcement was made by Chief Financial Officer for WMT, Charles Holley], at the company’s annual meeting. The company had nearly $712 million left over from the previous $15 billion buyback program which was announced at the 2011 annual meeting.


Cellular Dynamics International has filed papers to become public. The company is based out of Wisconsin and is one of the top operators for stem-cell production. James Thomson, one of the company’s co-founders, is a leading name in the stem-cell field. He currently is the Director of Regenerative Biology at the Morgridge Institute for Research. He has published over 150 scientific papers and hold 30 patents. One of CDI’s top systems is the iCell Operating System. It is protected by over 700 patents and allows for the reproductive system of stem cells for in vitro drug development, in vivo cellular therapeutics and stem-cell banking. The company currently has 128 customers which range from nonprofits and universities to government research organizations.


That’s all for the day.

All the best,
Jack Aubrey

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