Anglo-Dutch oil supermajor Royal Dutch Shell PLC (NYSE: RDS-A) announced Monday that it will sell its assets in the Eagle Ford shale play in south Texas. The sale follows an announcement in August that Shell would write down $2.1 billion in the value of its North American assets.
Shell holds leases on 106,000 acres in the Eagle Ford play and currently operates 192 wells in the region. But the company did not acquire the leases until 2010, by which time the price of natural gas had begun falling. Shell said its Eagle Ford assets did not meet the company’s targets for scale and profitability.
When the company took the write-down on its North American assets, it laid the blame squarely on the low price of natural gas. At the same time, the company dropped its production targets for oil production from the shale formations. The writing was on wall at that point.
Some natural gas producers, like Exxon Mobil Corp. (NYSE: XOM) and Chesapeake Energy Corp. (NYSE: CHK), have successfully ridden recent high oil prices from the liquids-rich plays in the Eagle Ford play. Shell has been unable to do so.
Top 10 Asian Companies To Own In Right Now: Horizon Pharma Inc (HZNP)
Horizon Pharma, Inc. (Horizon), incorporated on March 23, 2010, is a biopharmaceutical company that develops and commercializes medicines to target unmet therapeutic needs in arthritis, pain and inflammatory diseases. On April 23, 2011, the United States Food and Drug Administration, approved DUEXIS (formerly HZT-501), a tablet formulation containing a fixed-dose combination of ibuprofen and famotidine in a single pill. The Company�� other product, LODOTRA (NP-01), is a programmed release formulation of low-dose prednisone that is marketed in Europe by the Company�� distribution partner, Mundipharma International Corporation Limited (Mundipharma). As of December 31, 2010, Horizon completed multiple Phase III clinical trials of LODOTRA. In addition to these product candidates, the Company has a pipeline of earlier-stage product candidates to treat pain-related diseases and chronic inflammation. On April 1, 2010, Horizon effected a recapitalization and acquisition pursuant to which Horizon Pharma, Inc. became a holding company, that operates through its wholly owned subsidiaries, Horizon Pharma USA, Inc. (formerly Horizon Therapeutics, Inc.) and Horizon Pharma AG (formerly Nitec Pharma AG (Nitec)).
DUEXIS
DUEXIS is a combination of 800 milligram ibuprofen and 26.6 milligram famotidine in a single pill and is indicated for the relief of signs and symptoms of rheumatoid arthritis (RA), and osteoarthritis (OA), and to decrease the risk of developing upper gastrointestinal (GI), ulcers in patients who are taking ibuprofen for those indications. The Company has completed two Phase III clinical trials in a total of over 1,500 patients with mild to moderate pain or arthritis that demonstrated a significant reduction in the incidence of non-steroidal anti-inflammatory drugs (NSAID)-induced upper GI ulcers when treated with DUEXIS versus ibuprofen alone.
LODOTRA
LODOTRA is a programmed release formulation of low-dose prednisone, a well-established drug use! d to inhibit the production of various pro-inflammatory cytokines, which are proteins associated with joint inflammation in RA. LODOTRA has received regulatory approval in Europe for the treatment of moderate to severe, active RA in adults when accompanied by morning stiffness. As of December 31, 2010, the Company had completed two pivotal Phase III clinical trials of LODOTRA in a total of over 600 patients with RA. The first pivotal Phase III trial supported the approval of LODOTRA in Europe in March 2009, where it is approved for marketing in 14 European countries. LODOTRA achieved significant results and met the primary endpoint in each of the two pivotal Phase III clinical trials. Its LODOTRA product was developed and is owned by Horizon Pharma AG. As of December 31, 2010, the Company markets LODOTRA in Europe through three separate agreements. Pursuant to two separate agreements, it granted Merck Serono GmbH and Merck GesmbH, an affiliate of Merck Serono, the rights to distribute and market LODOTRA in each of Germany and Austria, respectively, and pursuant to the third agreement, it granted Mundipharma rights to distribute and market LODOTRA in the rest of Europe. The Company also has a manufacturing and supply agreement with Jagotec AG under which Jagotec or its affiliates manufacture and supply LODOTRA to the Company as bulk tablets.
The Company competes with Pfizer Inc., Pozen Inc., Abbott Laboratories and Amgen Inc.
Advisors' Opinion:- [By Jake L'Ecuyer]
Leading and Lagging Sectors
Wednesday morning, the healthcare sector proved to be a source of strength for the market. Leading the sector was strength from Horizon Pharma (NASDAQ: HZNP) and Pernix Therapeutics Holdings (NASDAQ: PTX). In trading on Wednesday, telecommunications services shares were relative laggards, down on the day by about 0.39 percent. Top decliners in the sector included Shenandoah Telecommunications Co (NASDAQ: SHEN), off 3.3 percent, and CalAmp (NASDAQ: CAMP), down around 2.4 percent. - [By Lisa Levin]
Horizon Pharma (NASDAQ: HZNP) shares gained 24.15% to $18.23 after the company announced its plans to acquire privately held Vidara Therapeutics International for around $660 million.
Best Low Price Stocks To Buy Right Now: Karoon Gas Australia Ltd (KRNGF)
Karoon Gas Australia Ltd (Karoon Gas) is an Australia-based exploration company. The Company is principally engaged in the hydrocarbon exploration and evaluation in Australia, Brazil and Peru. The Company operates in three segments: Australia, Brazil and Peru exploration. The Company�� Australia segment is involved in the exploration and evaluation of hydrocarbons in four offshore permit areas: WA-314-P, WA-315-P, WA-398-P and WA-482-P; The Company in its Brazil segment is involved in the exploration and evaluation of hydrocarbons in five offshore blocks including Block S-M-1037, Block S-M-1101, Block S-M-1102, Block S-M-1165 and Block S-M-1166. The Company under its Peru exploration segment is involved in the exploration and evaluation of hydrocarbons in two blocks in Peru, including Block 144 (onshore) and Block Z-38 (offshore). Advisors' Opinion:- [By MARKETWATCH]
LOS ANGELES (MarketWatch) -- Australian stocks seesawed in early Monday trade, with gains for miners and energy names helping support the market, as the S&P/ASX 200 (AU:XJO) sat 0.1% higher at 5,325.90 after changing direction several times. Official Chinese data showing manufacturing holding its growth rate in October appeared to help some miners, as did gains for some commodity prices. Shares of Rio Tinto Ltd. (AU:RIO) (RIO) rose 0.5%, Fortescue Metals Group Ltd. (AU:FMG) (FSUMF) added 0.7%, Oz Minerals Ltd. (AU:OZL) (OZMLF) advanced 1%, and Whitehaven Coal Ltd. (AU:WHC) improved by 1.9%. Likewise, an advance for gold futures sent Newcrest Mining Ltd. (AU:NCM) (NCMGF) rallying 3.4%, and Kingsgate Consolidated Ltd. (AU:KCN) (KSKGF) up 2.9%. Energy shares also traded higher, with Oil Search Ltd. (AU:OSH) (OISHF) up 1.3%, and Karoon Gas Australia Ltd. (AU:KAR) (KRNGF) adding 1.7%. On the downside, retailers were mostly lower, with David Jones Ltd. (AU:DJS) (DVDJF)
- [By MARKETWATCH]
LOS ANGELES (MarketWatch) -- Australian stocks gave ground in early Friday trading, with banks broadly lower after overnight losses in the U.S., where investors worried that better-than-expected data would prompt the Federal Reserve to roll back stimulus soon. The S&P/ASX 200 (AU:XJO) lost 0.4% to 5,178.30, as National Australia Bank Ltd. (AU:NAB) (NAUBF) fell 1.8%, Australia & New Zealand Banking Group (AU:ANZ) (ANEWF) lost 0.8%, and Macquarie Group Ltd. (AU:MQG) (MCQEF) retreated 1.3%. Among the resource shares, losses for gold both in New York and in early Asian electronic trade helped send Evolution Mining Ltd. (AU:EVN) (CAHPF) down 1.9% and Kingsgate Consolidated Ltd. (AU:KCN) (KSKGF) off 4.5%, though Newcrest Mining Ltd. (AU:NCM) (NCMGF) held the drop to 0.4%. Oil prices managed a modest gain, however, resulting in a 0.2% rise for Oil Search Ltd. (AU:OSH) (OISHF) and Karoon Gas Australia Ltd. (AU:KAR) (KRNGF) , while Woodside Petroleum Ltd. (AU:WPL)
Best Low Price Stocks To Buy Right Now: First Financial Bancorp.(FFBC)
First Financial Bancorp. operates as the holding company for First Financial Bank, National Association that provides commercial banking, and other banking and banking-related services. The company accepts various deposit products that include interest-bearing and noninterest-bearing deposit accounts, time deposits, and cash management services for commercial customers. It also offers various lending products, including residential real estate loans; commercial real estate loans; commercial loans for various business purposes; home equity lines of credit; and consumer loans, such as vehicle loans, second mortgages on residential real estate, and unsecured loans. In addition, the company provides trust services, brokerage, investment, and other related services. As of June 3, 2011, it operated 102 banking centers in Ohio, Indiana, and Kentucky. The company was founded in 1982 and is headquartered in Cincinnati, Ohio.
Advisors' Opinion:- [By , DividendChannel.com]
Looking at the universe of stocks we cover at Dividend Channel, on May 28, First Financial Bancorp�(FFBC), Goldman Sachs�(GS) and M & T Bank Corp.�(MTB) will all trade ex-dividend for their respective upcoming dividends. First Financial Bancorp will pay its quarterly dividend of $0.15 on July 1, Goldman Sachs will pay its quarterly dividend of $0.55 on June 27 and M & T Bank�will pay its quarterly dividend of $0.70 on June 30.
Best Low Price Stocks To Buy Right Now: SWK Holdings Corp (SWKH)
SWK Holdings Corporation (SWK), incorporated on July 1996, is engaged in identifying and reviewing candidates for acquisition or other investment. The Company was previously engaged in the development, marketing and support of customer communications software products. It sold its products primarily in North America, Europe and Asia, through its direct sales force and third party integrators.
The Company's applications were designed to integrate with other enterprise software and legacy systems, and provide customers with capabilities for personalization, customer profile management, inquiry management, universal business rules, knowledge management and work flow. KANA also offered customer support and professional services, such as consulting and education.
Advisors' Opinion:- [By Tess Stynes]
Verint Systems Inc.(VRNT) agreed to buy customer-service software firm Kana Software Inc.(SWKH) from private equity firm Accel-KKR for about $514 million in cash, as the data-analysis company seeks to expand its offerings.
Best Low Price Stocks To Buy Right Now: Douglas Dynamics Inc.(PLOW)
Douglas Dynamics, Inc. designs, manufactures, and sells snow and ice control equipment for light trucks in North America. It principally offers snowplows, sand and salt spreaders, and related parts and accessories. The company sells its products under the WESTERN, FISHER, and BLIZZARD brands. Douglas Dynamics sells its products through a distributor network primarily to professional snowplowers. The company was founded in 2004 and is headquartered in Milwaukee, Wisconsin.
Advisors' Opinion:- [By Jon C. Ogg]
Douglas Dynamics Inc. (NYSE: PLOW) was downgraded to Underperform from an already cautious Neutral rating at Credit Suisse, and the target price is $14, versus a current $14.72 share price.
Best Low Price Stocks To Buy Right Now: Patterson Companies Inc.(PDCO)
Patterson Companies, Inc. operates as a distributor serving the dental, companion-pet veterinarian, and rehabilitation supply markets in North America. Its Dental Supply segment provides consumable dental supplies, such as x-ray film and solutions; impression and restorative materials; hand instruments; sterilization products; anesthetics; infection control products, including protective clothing, gloves, and facemasks; paper, cotton, and disposable products; toothbrushes; dental accessories; printed office products, office filing supplies, and practice management systems; x-ray machines, handpieces, dental chairs and handpiece control units, diagnostic equipment, dental lights, compressors, chair-side restoration systems, and inter-oral cameras; practice management and clinical software; hardware and networking solutions; and patient education solutions. The company?s Veterinary Supply segment offers consumable supplies, such as lab supplies, paper goods, needles and syr inges, gauze and wound dressings, sutures, latex gloves, and orthopedic and casting products; pharmaceuticals comprising anesthetics, antibiotics, ointments, and nutraceuticals; diagnostics; biologicals, including vaccines and injectibles; and equipment and software. Its Rehabilitation Supply segment provides dressing and grooming devices, and toileting, dining, and bathing aids; braces, splints, and orthotics; exercise bands, putty, weight balls, and mats; walkers, canes, and wheelchair accessories; rolls, wedges, seating and standers, and mobility assistance products; motor stimulation products; products for heating and cooling therapies, electrical stimulation, laser, ultrasound, paraffin, iontophoresis, and therapeutic creams and lotions; and rehabilitation equipment and software. The company was formerly known as Patterson Dental Company and changed its name to Patterson Companies, Inc. in June 2004. Patterson Companies, Inc. was founded in 1877 and is based in St. Paul , Minnesota.
Advisors' Opinion:- [By Eric Volkman]
Patterson (NASDAQ: PDCO ) has elected not to raise its quarterly shareholder payout. The company today declared a regular stock dividend of $0.16 per share, to be paid on July 26 to shareholders of record as of July 11. That amount matches the company's previous distribution, which was paid at the end of April. Before that, Patterson handed out $0.14 per share.
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