Barron’s

Features:

• The Intriguing Real-Estate Sale at Capmark May 19, 2012
  The former GMAC unit wiped out the holdings of KKR and Goldman Sachs, but now it looks like a decent liquidation play.
• For Some, Disaster Is Spelled CDS May 19, 2012
  Figuring in the 2008-2009 financial crisis and the recent $2 billion blowup at JPMorgan Chase, this form of risk insurance often has turned out to pose a risk itself.
• Changing Their Stripes May 19, 2012
  With investors willing to pay up for stocks that generate income, more companies—even prison operators—are considering becoming real-estate investment trusts.
• Mining the Gold Miners May 19, 2012
  Gold-mining stocks are trading at record lows, relative to the price of gold. Newmont Mining, the world's No. 2 gold miner—with a 3.1% yield—would be a big beneficiary if the price disparity narrows. Shares could rise 50%.
• Champion of Accounting and Accountability May 19, 2012
  A master accountant favors stringent enforcement of Sarbanes-Oxley to reduce the chances of more debacles like those at JPMorgan Chase and AIG.
• The Einhorn Effect May 19, 2012
  Top hedge-fund managers brought their best ideas to last week's Ira Sohn Investment Conference. Why they like J.C. Penney and Kohl's. Mixed tastes on Apple.
• Facebook Flops: Look Out Below! May 19, 2012
  The most anticipated tech IPO of all time fell flat on Friday, finishing up just 0.6%. If underwriters don't support the stock, Facebook could fall below its offering price.
• Bluer Skies for Brazil's Embraer May 14, 2012
  The Brazilian aircraft maker is No. 3 in the market, and a smart play on rising demand for regional jets. Near-term turbulence, long-term opportunity.
• Mad About Facebook! May 14, 2012
  Investor frenzy continues to grow, with the IPO imminent. But those who climb aboard now may be setting themselves up for disappointment.
• Where Beauty Is Skin Deep May 14, 2012
  Shares of health-products marketers Herbalife and Nu Skin have gotten hammered of late. Our analysis suggests there could be more pain to come.
• New Policies Make Unum Look Like a Buy May 7, 2012
  Focusing on profitability, rather than market share, should pay off in the long run, despite lackluster first-quarter results and worries about the company's checkered history.
• The Right Spin on Phillips May 7, 2012
  Investors are pricing it like a refining company, overlooking the rich returns from its chemical and energy-transportation businesses.
• On the Runway, Ready for Takeoff May 7, 2012
  After years of painful bankruptcies and consolidation, the airline industry is poised to become a comfortable oligopoly. The biggest beneficiary will likely be United Continental.
• Combing the Barron's 500 for Underpriced Shares May 7, 2012
  A ranking of the Barron's 500 by price/earnings ratios that may offer investors insights into what stocks are inexpensive and possibly set to provide gains.
• Connecting the Dots at eBay May 1, 2012
  The company dominates the online-payment business with PayPal and has become an all-around leader in e-tailing. Why Wall Street looks ready to bid up eBay at last.
• Oracle's Brave New World April 30, 2012
  Oracle's move into cloud-based software will enhance current offerings and drive new sales. The shares could rise 10% —and possibly much more—in a year.
• Brainy Stock, Bright Prospects April 28, 2012
  Thermo Fisher Scientific looks ready to surprise the skeptics. The big supplier of lab gear is boosting margins, expanding overseas and carrying out acquisitions with aplomb.
• Devon Energy: Undervalued and Underrated May 8, 2012
  Pessimism is too high and the share price is too low for the big driller, whose sound strategy, strong balance sheet and shrewd joint ventures should pay off nicely.
• No Margin for Error April 23, 2012
  Francesca's Holding has market-leading profit margins among specialty retailers. Is it getting sweet deals from insiders who are also suppliers?
• The Little Chip Maker That Could April 23, 2012
  LSI, a leading maker of semiconductors for hard drives and networks, looks ready for a comeback after a rough few years. Why its stock may surge more than 50%.
• Down -- but Far From Out -- on the Farm April 23, 2012
  After a decade in which farmland prices kept heading steadily north, the market looks ready to cool off. But the result is likely to be a return to normal, not disaster.
• The Top 100 April 17, 2012
  Barron's ranks America's leading financial advisors. What they're recommending.
• The Great Bond Conundrum April 16, 2012
  Investors looking for yield face slim pickings these days—and serious risks. Some top advisors offer recommendations on how to get decent income.
• Time to Start Trading April 16, 2012
  As global markets gyrate, a growing number of advisors are telling investors to set aside as much as 25% of their portfolio for shorter-term bets. Sizing up the risks and returns.
• Plucking Kohl's From the Bargain Bin April 16, 2012
  Shares of the off-price department-store chain have fallen out of favor with investors. But there is much to like about this aggressive merchandiser, including its shareholder-friendly ways.
• The Gift of Giving April 16, 2012
  Now is the time for making big gifts to your kids and grandchildren. Some good advice on how to make your moves before favorable tax exemptions expire.
• A No-Confidence Vote for France April 16, 2012
  Socialist leader Francois Hollande is likely to be the next president of France, beating incumbent Nicolas Sarkozy. That's bad for business, and worse for the French economy.
• Clever Is as Clever Does April 16, 2012
  For-profit colleges are contributing mightily to the country's $1 trillion in student-loan debt. When it comes to defaults, ITT Educational Services is doing much more than its share.
• One of the Best Tech Plays Outside Apple April 16, 2012
  Seagate Technology has a rock-bottom valuation and bright prospects. Here's how the world's largest disk-drive maker may offer investors a byte of the action.
• Surprise! The 1% Are Paying Their Fair Share April 9, 2012
  President Obama says, "If you make more than $1 million a year, you should not pay less than 30% in taxes." Data on the top 1% show that the "fairness" rule already applies.
• Still a Master of the Game April 9, 2012
  Publicly traded Icahn Enterprises is beating the S&P again this year. But its lack of liquidity has led few investors to accept the chance to invest alongside Carl Icahn.
• Going With The Flow April 2, 2012
  New pipelines will carry landlocked crude from heartland producers to refineries on the Gulf Coast. The end of inland refiners' cost advantage will hurt the shares of HollyFrontier, Western Refining and Delek US.
• Franklin Is Right on the Money April 2, 2012
  Mutual-fund juggernaut Franklin Resources has recovered smartly from the dark days of 2008. Why the good times could continue for the company and its shares.
• Waiting and Hoping April 2, 2012
  Results of a crucial trial of a drug for one form of muscular dystrophy soon will be released. Victims of the disease—and AVI BioPharma—have a lot riding on them.
• IGT Doubles Down March 26, 2012
  After a long losing streak, slot-machine-maker International Game Technology could begin to pay off for shareholders, as states legalize gambling and Asian casinos heat up.
• Flying High in the Latin Sky March 26, 2012
  Latin America's airlines are benefiting from rising demand as economic and political stability reshape the region. Why shares of Copa, LAN and other carriers will keep gaining altitude.
• Big Green Finds Fertile Fields Abroad March 26, 2012
  Deere, maker of heavy equipment for agriculture, forestry and construction, has put up seven straight quarters of record earnings. Underwhelmed investors need to rethink.
• Profiles of the World's Best CEO's March 26, 2012
  How talented titans such as Alan Mulally of Ford, Jeff Bezos of Amazon.com and Jamie Dimon of JPMorgan Chase earned their place in the spotlight.

Up & Down Wall Street Daily:

• Reality Divides Facebook From Rest of Investment World May 18, 2012
  Global equities slump amid clamor for biggest Internet IPO ever. Who's right?
• Facebook Frenzy -- Ya Gotta Be In It to Win It! May 18, 2012
  But will clamor for the hot IPO change attitudes of disaffected individual investors?
• The Bear Is Back, Say Chartists May 16, 2012
  Actually, it's just reawakening after having been lulled to sleep by central bankers.
• What JPMorgan Isn't Saying -- Returns Are Lousy May 15, 2012
  The need for income in a low-yield world may have produced a $2 billion loss for the bank.
• Fed's Repression Meets Investors' Revulsion May 11, 2012
  Despite bond yields lower than inflation and cheap equities, once-bitten individuals remain wary of the market.
• Where's Bill Simon When We Need Him? May 10, 2012
  The bond trader turned Treasury Secretary knew how to fund deficits. What he and corporations could teach borrowers and investors.
• When Will Main Street Return to Wall Street? Don't Hold Your Breath May 9, 2012
  Contrarians note: average investors are shunning stocks. But it may not be enough to restart a bull market.
• The Borrowing Surge Isn't to Splurge May 8, 2012
  The jump in consumer credit represents student loans. But will they pay off?
• Don't Blame the Calendar for Punk Store Sales May 5, 2012
  Retailers believe in the Easter Bunny rather than the sad fact consumers have to dig into savings to keep spending.
• Do You Believe the Dow or the 99%? May 3, 2012
  The broad swath of stocks lags the major averages. What does that mean?
• Lack of Treasury Floaters: The Dog That Didn't Bark? May 2, 2012
  If Treasury floating-rate notes could complicate "sterilized QE" by the Fed, the new instruments can wait some more.
• Art for Art's Sake? Or To Protect Wealth? May 1, 2012
  The uber-rich send prices of top-end art and properties soaring. The attraction may be more a hedge against inflation or confiscation.
• What Do You Know? It May Not Be True April 27, 2012
  The U.K. economy has little impact on big British multinationals while state and local fiscal duress hasn't hampered munis.
• Divided Fed Stands Pat, Has Little New to Say April 26, 2012
  FOMC will react to data and events with the rest of us. "Get used to it."
• This May Be as Good as It Gets for Stocks in 2012 April 25, 2012
  Apple's extraordinary earnings growth is unique. Other corporate profits seem fully discounted.
• United States of Europe? More Like the Confederacy April 24, 2012
  The South lost the Civil War in part because of its fractious fiscal arrangements. But what is the price of freedom?
• A New Round of Monetary Easing Ahead? April 20, 2012
  The bulls assume central bankers have their back. But the impact of stimulus may be waning.
• Housing Is Bouncing Along the Bottom of an Abyss April 18, 2012
  The Beatles were prescient about today's U.S. housing market: It's getting better because it can't get no worse.
• An Apple This Day Is Costly April 17, 2012
  The world's most valuable stock sheds $23 billion Monday. Can the market continue to advance without its leader?
• If We Had Only Listened to Henry Kaufman Then April 13, 2012
  Bailouts of too-big-to-fail institutions mean less economic freedom now, according to the original Dr. Doom.
• Is There a Bernanke Put -- or a Collar? April 11, 2012
  While the Fed chief emphasizes the need for policy to aim for stability, will it also dampen gains as it cushion risks?
• Markets Lose Their Liquid Courage April 4, 2012
  With QE3 not likely, for now, risk assets sell off.
• A Stock Eye for the Bond Guy April 3, 2012
  Some corporate bonds are too cheap relative to their shares, Barclays says. The Fed's visible hand has an effect.
• Canada's Ditching of the Penny Makes No Cents March 30, 2012
  Penny pricing benefitted Wall Street's customers. Eliminating the penny would hurt Main Street.
• Cassandra Confronts the Treasury Market March 29, 2012
  Why aren't T-bond yields falling more? Stephanie Pomboy suggests that sometimes demand isn't equal to supply.
• Treasury Bonds Diss Bernanke as Yields Surge March 27, 2012
  Sharp rise in long-term yields come against backdrop of continued central-bank accommodation.
• Can the U.S. Avoid the Latest Downturns Abroad? March 23, 2012
  Signs of weakness overseas have greater implications for the U.S. Also, signs of wackiness in the stock market.
• Are We About to Eclipse Mideast Oil Output? March 22, 2012
  So says Citi by 2020. Good news for U.S. GDP, jobs and the dollar as well as geopolitics.
• Can the U.S. Road Runner Avoid the Fiscal Cliff? March 21, 2012
  The present path leads to renewed recession. But there's hope in Fed policy and possible compromise.
• Apple Drives Stocks Now; Later, the Fed March 20, 2012
  Apple lifts the entire market, for now, but it faces a monetary Catch-22.
• Goldman's Greed: This is News? March 19, 2012
  Trading against customers used to be taboo, but Wall Street's been doing it for decades.
• Fed Stands Pat as Bank Are Less Stressed March 14, 2012
  Easy monetary policy has helped heal the financial sector but has hurt consumers.
• Greece Faces Pain With Little Gain March 13, 2012
  Deep discounts on new bonds imply this won't be the last bailout while the Greek people suffer austerity.
• Fed Move Likely by June, Ex-Insider Says March 7, 2012
  Morgan Stanley's Vincent Reinhart says central bank is apt to ease before election season hits high gear.
• The Worst of Times to Buy Stocks? March 10, 2012
  A leading fund manager sees conditions that presaged past plunges. A "perfect storm" lies ahead, adds a technical guru.
• China's Sale of U.S. Debt -- Beginning of the End? March 2, 2012
  When all else fails, central-bank monetization of debts is the usual answer -- but not a good one.
• Pimco's Gross Says It's Time to Play Defense February 29, 2012
  The game plan for ultra-low yields: junk bonds, mortgages and high-coupon munis.
• Markets Look to ECB to Refill Rx February 28, 2012
  Whether placebo or palliative, LTRO eased symptoms of financial distress. How big a second dose?
• Curb Your Enthusiasm February 27, 2012
  As the European Union Economics Commission forecast late last week, the euro region seems headed for an outright economic contraction this year.

Hot Research:

• Riverbed Technology May Hit Dry Spell May 18, 2012
  The networking-technology firm will likely cut guidance again this year.
• Lorillard Burning at Both Ends May 17, 2012
  The tobacco firm is seeing its mix shift to lower-priced brands.
• Electronic Arts Is Game for Upside May 16, 2012
  The videogame publisher's profile has changed significantly recently.
• Discovery Communications' Full Valuation May 15, 2012
  The media company's shares recently reached Barrington's target.
• Nvidia Breakup Would Give 50% Upside May 14, 2012
  The maker of graphics chips could be worth $12.5 billion at market value.
• CBS Is More Than a Survivor May 11, 2012
  The media and entertainment giant will build on a strong first quarter.
• Patriot Coal Shares Seen Range-Bound May 10, 2012
  The coal producer is facing market challenges but is executing well.
• Electronic Arts Zapped by Star Wars Slump May 9, 2012
  MKM Partners cut the fair-value price on the videogame publisher.
• Small-Scale Wipeout at Clorox May 8, 2012
  The maker of household products took a hit in gross margins.
• Visa Shares Have More to Give May 4, 2012
  The high-flying credit-card processor can climb even higher, writes SunTrust Robinson Humphrey.
• Why Jacobs Engineering Looks Underpriced May 3, 2012
  The engineering-and-construction firm will grow after a soft quarter.
• Cooling Off on First Solar May 2, 2012
  The maker of solar panels isn't expected to formulate a better strategy.
• Why Ford Shares Lack Upside May 1, 2012
  The auto giant hasn't communicated its solid results to the Street.
• An Oil-Services Stock to Buy on the Pullback April 30, 2012
  BMO Capital has ugraded Oceaneering International, arguing that the stock can gain 20%
• Upgrading a Texas Bank April 27, 2012
  In assigning Texas Capital Bancshares a Buy rating, Sterne Agee writes that the shares can climb about 18%.
• Panera Can Make Plenty of Dough April 26, 2012
  Miller Tabak upgraded the restaurant chain to a Buy, citing improved top-line strength and margin expansion.
• Can Synaptics Get a Lift From Kindle Fire? April 25, 2012
  Sterne Agee has upgraded the mobile-computing interface developer to a Buy.
• Jakks Pacific Gets Shareholder-Friendly April 24, 2012
  The toymaker has taken several steps that could increase its share price by at least 15%, writes Needham.
• AMD Improves but Remains Behind Intel April 23, 2012
  AMD will be hampered by Intel's superior products, says J.P. Morgan.
• How Bank of New York Bounced Back April 20, 2012
  The bank's valuation has become more compelling since earlier this month.
• First Solar Eclipsed by Overcapacity April 19, 2012
  The solar-systems provider is restructuring in the face of headwinds.
• Crocs Could Pick Up Its Gait April 18, 2012
  The footwear maker could see material upside to its share price.
• PHH Boosted by JPMorgan, Wells Fargo April 17, 2012
  The servicer for mortgage and fleet industries will see earnings grow.
• Wells Fargo's Compelling Valuation April 16, 2012
  The banking giant can pick off assets from weaker players.
• Is Progressive Regressing? April 13, 2012
  Sandler O'Neill has downgraded shares of the p&c insurer, citing a pattern of disappointing earnings performance.
• Is KB Home About to Hit Bottom? April 12, 2012
  The home builder's first-quarter earnings are likely to be the weakest of 2012, writes MKM Partners.
• Outlook for Chip-Stock AMD April 10, 2012
  Sterne Agee writes that the semiconductor company should be helped by an improved production of hard-disk drives.
• Discovery Communications Shares Can Fly Higher April 11, 2012
  Caris & Co. writes that the rising shares of the television-network company can increase by another 16%.
• Planar Systems Loses Some Altitude April 9, 2012
  The specialty-display maker will see continued cash burn this year.
• Smith & Nephew Gets Kneecapped April 6, 2012
  Caris & Co. is lowering the share-price target for the British medical-device maker, citing lower earnings.
• AIG's Incremental Progress April 5, 2012
  Sandler O'Neill has slightly increased its share-price target on the global insurer but maintained its Hold rating.
• Is Avon Worth More Than Coty's Takeover Bid? April 4, 2012
  Caris & Co. argues that Avon shares have a value that's 20% more than a private competitor is currently offering for them.
• Carmike Cinemas Feeding Off of Hunger Games April 3, 2012
  The operator of movie theaters will also gain from The Avengers.
• Texas Industries Has a Floor at $32 April 2, 2012
  The maker of heavy-construction materials will still underperform peers.
• Making a Play for Monster Gains March 30, 2012
  Technical analysis shows bullish signs for the career-placement firm.
• A Gold Miner With 38% Upside March 29, 2012
  Though a growth stock, Agnico-Eagle offers significant value.
• Family Dollar Shares Are Good Value March 28, 2012
  MKM Partners has upgraded the discount retailer's shares to a Buy, citing industry momentum and a cheap valuation.
• Why Dell's a Good Deal March 27, 2012
  The stock is attractively priced, trading at a trough valuation to the S&P 500.
• Declining Market Volatility is Threat to Interactive Brokers March 26, 2012
  The online brokerage and market maker's earnings should be hurt as trading volatility has fallen to multi-year lows, writes Sandler O'Neill.
• Pumped for Cimarex Energy March 23, 2012
  The energy explorer's Permian and Mid-Continent regions are key.
• Hewlett-Packard's Printer Jam March 22, 2012
  Combining the PC and printer operations may not be efficient.
• Amazon and Kiva Will Click Well Together March 21, 2012
  The online retailing giant made a savvy buy that will raise efficiency.
• UPS Can Fly Higher With TNT Express in Cargo Hold March 20, 2012
  Morgan Keegan has set a higher share-price target for UPS should its proposed acquisition of a European competitor be consummated.
• NYSE Euronext Cooling Off March 19, 2012
  Sandler O'Neill is lowering its earnings estimate for the securities-exchange operator, citing weaker trading volume this quarter.
• Take Profits in Lockheed Martin Now March 16, 2012
  The aerospace contractor's shares are up 11% year-to-date.
• Delta Air Lines to Lose a Little Altitude March 14, 2012
  Maxim Group is decreasing the carrier's earnings estimates for the next two years in the wake of cost increases.
• Factors Subtracting From Adtran March 13, 2012
  The provider of communications equipment will see drivers slow.
• Aeropostale Ready to Take Flight March 12, 2012
  Caris & Co. has sharply raised the price target of the clothing retailer's shares.
• Marriott International Packs Upside March 9, 2012
  MKM Partners upgraded the lodging chain to Buy from Sell.
• Dick's Sporting Goods Surprises a Skeptic March 8, 2012
  Sterne Agee upgrades the stock, arguing that same-store sales weren't as weak as anticipated.
• McDonald's Beefing Up March 7, 2012
  Sterne Agee raised the price target on an upbeat February view.
• An Upgrade for CMS Energy March 6, 2012
  Caris & Co. argues that the utility stock can generate a total return of 14% based on a new, higher price target.
• Chip-Maker Cavium Can Climb Higher March 5, 2012
  Roth Capital argues that the semiconductor stock can gain 12% in the next year. .
• More Pain for Great Plains? March 1, 2012
  The parent of Kansas City Power & Light faces a dimmer outlook.
• Visa Fee Changes Won't Hurt Heartland Payment March 2, 2012
  Janney Capital is increasing its price target on Heartland and reiterating its Buy rating.
• Greif Tries to Break Out of the Box February 29, 2012
  The industrial-packaging firm will be hemmed in by a weak Western Europe.
• A Buy-on-Weakness Utility Stock February 28, 2012
  Caris & Co. upgraded shares of Westar Energy after the stock took a fall. The 4.6% dividend yield also doesn't hurt.
• Likelihood of Apple Dividend "Higher Than Ever" February 27, 2012
  A 2% to 3% dividend yield would benefit investors and employees, says Sterne, Agee &Leach.
• SM Energy Set to Underperform Peers February 24, 2012
  The energy explorer ended 2011 with disappointing proved reserves.
• Dollar Thrifty Has Plenty Left in the Tank February 23, 2012
  The auto-rental firm provided strong fiscal 2012 guidance.
• Hit the Reset Switch on Con Ed February 22, 2012
  Shares have fallen to a point where a less-bearish stance is warranted.
• Applauding Nordstrom's Multi-Channel Moves February 21, 2012
  Caris & Co. raises its price target on the retailer, citing increased investments in e-commerce and technology to drive top-line growth.
• Slick Returns From Murphy Oil? April 17, 2012
  Brean Murray Carret sees 16% upside for the stock.