Service Stocks

Sears Canada Inc SRSC Stock News

Sears Canada Inc (NASDAQ: SRSC) is having an overwhelmingly strong day in the market. Since the opening bell, the stock has been headed upward and has experienced volatility halt after volatility halt as a result. At the moment (11:37), SRSC is trading at $1.75 per share after a gain of $1.19 per share or 212.50% thus far today.





Why SRSC Is Climbing

To be honest with you folks, your guess is as good as mine. The truth is that Sears Canada isn’t in the best of places right now. Earlier this week, news broke that the stock would be delisted from the NASDAQ. On top of that, back on June 22nd, the company filed bankruptcy in Canada. At the moment, no new news seems to be surfacing on the stock, but it is trading on massive highs and massive volume.




At this point, it’s only possible to speculate, given the fact that there’s no recent news offered by the company. However, I wouldn’t be surprised if the news happens to be a takeover. At the end of the day, retail takeovers are a hot ticket right now, and with a little care, SRSC could be a great asset for one of the big boys like Walmart or Amazon to have. Nonetheless, that’s just speculation as there’s no news of any takeover out there at the moment.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on SRSC. In particular, we’re interested in learning more about just what is going on here. If you hear it before us, please do share your thoughts in the comments below! Nonetheless, we’ll continue to follow the story and bring the news to you as soon as we can dig it up!

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Parkway, Inc. PKY Stock News

Parkway Inc (NYSE: PKY) is off to a strong day in the market this morning, and for good reason. The company announced that it would be acquired. Of course, this news is leading to excitement among investors who are sending the stock toward the sky. As is nearly always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (8:41), PKY is trading at $21.06 per share after a gain of $0.68 per share or 3.34% thus far today.





PKY Gains On Acquisition News

As mentioned above, Parkway is having an incredibly strong time in the pre-market hours this morning after announcing that the company will be acquired. Early this morning, it was announced that the company entered into a definitive agreement with CPPIB, who will be purchasing 100% of PKY. The sale will close at a price of $1.2 billion, representing a price of $23.05 per share. In a statement, James R. Heistand, President and CEO at PKY, had the following to offer…




CPPIB shares our view of the long-term resiliency of the Houston market, and we believe this transaction demonstrates our commitment to enhancing shareholder value… We believe there are still some near-term headwinds in the office sector for Houston, but the implied asset valuation of this transaction shows CPPIB’s appreciation for the high-quality portfolio we have assembled and the near-term stability it provides during the current downturn in the market.”

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on PKY. In particular, we’re interested in following the news surrounding this acquisition as it is still subject to customary closing conditions. Nonetheless, the deal is supposed to close in the fourth quarter of 2017, and we’re expecting it to go off without a hitch. We’ll continue to follow the story closely and bring the news to you as it breaks!

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Seanergy Maritime Holdings Corp. SHIP Stock News

Seanergy Maritime Common Stock (NASDAQ: SHIP) released some big news yesterday with regard to termination of an equity offering program. This was incredibly positive news. Today, we’ll talk about the news, why it was so positive, and what we’ll be watching for with regard to SHIP ahead.





SHIP Terminates Equity Offering Program

As mentioned above, Seanergy Maritime announced yesterday that it has terminated an equity offering program. The program was known as the “At-The-Market” equity offering program, under which the company had up to $20 million up for grabs. Under an Equity Distribution Agreement with Maxim Group LLC, SHIP not only terminated the ATM Offering program, but also sold 2,782,136 common shares, bringing in approximately $2.9 million in gross proceeds. In a statement, Stamatis Tsantanis, Chairman and CEO at SHIP, had the following to offer:




Since August 2016, we have raised approximately $28.3 million of gross proceeds from public equity offerings, including the ATM Offering. We have utilized these funds in the most constructive way as they enable the Company to pursue highly accretive transactions. In particular, we have used the proceeds of the offerings to partly fund the acquisitions of the M/V Lordship, the M/V Knightship and the M/V Partnership, as well as to finance the prepayments under the early termination of a credit facility. The combined accretion in value we have created for our shareholders from these transactions is more than $27.9 million, which is derived from the market value appreciation of the acquisitions and the expected gain due to the early termination and refinancing of one of our facilities. We will continue to pursue accretive transactions with the aim of further creating value for our shareholders.”

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Why This Is Positive News

Ultimately, the termination of the ATM Offering program is relatively good news. The reason for this is that the company is starting to show tremendous balance sheet strength. As a result, it is now able to start looking to traditional forms of financing. Not to mention, only about 12% of the ATM Offering was actually used. So, it was ultimately canceled for a reason.

Another positive that we’ve noticed that we’d like to point out here is that SHIP stock has been trading over $1 per share for the past two consecutive days. This is overwhelmingly positive news, as maintaining a price over $1 per share removes the dark clouds associated with the potential delisting of the stock from the NASDAQ. At the end of the day, Seanergy seems to be putting itself in a prime position to run!

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on SHIP. In particular, we’re interested in following price action on the stock in the coming days and weeks, considering that the overhang of a potential delisting is now fading and that the company’s balance sheet seems to be strengthening. We’re also interested in following potential future acquisitions, as SHIP has a knack for acquiring vessels at steep discounts. We’ll continue to follow the story closely and bring the news to you as it breaks.

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Top Ships TOPS Stock News

Top Ships Inc (NASDAQ: TOPS) is having an incredibly strong start to the trading session this morning, and for good reason. The company released a post-reverse-split financial update, exciting investors who sent the stock toward the sky. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:30), TOPS is trading at $0.90 per share after a gain of $0.23 per share (34.33%) thus far today.





TOPS Issues A Post Reverse Split Financial Update

As mentioned above, Top Ships is having an incredibly strong day in the market today after providing a financial update following the most recent reverse stock split. The key financial data is data from June 23rd, 2017. Here’s what TOPS had to offer:




  • Cash and cash equivalents: approximately $4.2 million ($2.91 per share)
  • Book value of vessels, net: approximately $123.4 million
  • Debt outstanding balance: approximately $113.8 million
  • Number of Shares Outstanding: 1,443,092

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on TOPS. In particular, we’re interested in following the company through the operation of its vessels as well as seeing if the company can push its stock above that almighty dollar bid for long enough to maintain listing on the NASDAQ. We’ll continue to follow the story closely and bring the news to you as it breaks!

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Rite Aid Corporation RAD Stock News

Rite Aid Corporation (NYSE: RAD) is having an incredible day in the market so far today, and for good reason. For some time now, investors have been eyeing the stock, hoping for an acquisition to take place. Quite a while ago, Walgreens Boots (NASDAQ: WBA) made an offer to acquire the company, one which was accepted. However, the merger has been blocked in legal red tape. Nonetheless, news broke today that suggests the deal may go through. As a result, investor excitement ensued, leading to gains in the stock and prompting an alert from our partners at Trade Ideas. At the moment (12:02), RAD is trading at $3.40 per share after a gain of $0.29 per share or 9.32% thus far today.





RAD Gains With WBA Merger On The Horizons

As mentioned above, Rite Aid has been on a bit of a tumultuous ride as of late. It all started when the company accepted an offer by Walgreens. However, the merger didn’t quite go as planned. Ultimately, two of the largest pharmacies in the United States merging has the potential to create a monopoly. One which could ultimately have a negative effect on consumers and the economy alike. As a result, the merger was blocked for review.




At this point, the merger hasn’t been approved or rejected by authorities. However, it seems as though we’re getting closer and closer to the day of the decision. Interestingly enough, there are several reports circulating at the moment that suggest that an approval is going to come down the line relatively soon and that a merger will indeed take place. Considering the quality of sources associated with these reports, chances are good that they are accurate. Nonetheless, it ain’t over until the figurative fat lady sings, and we haven’t heard that loud, high-pitch note as of yet.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on RAD. In particular, we’re interested in following the story of the potential merger between RAD and WBA. While it looks like an approval is on the horizon, it’s important to keep in mind that anything can happen in the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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DryShips Inc. DRYS Stock News

DryShips Inc. (NASDAQ: DRYS) is having an overwhelmingly rough day in the market today, and for good reason. Ultimately, the declines are a side effect of the 1 for 5 reverse stock split that took effect today. Of course, this split is leading to concerns among investors, causing the losses and prompting our partners at Trade Ideas to alert us to the movement. At the moment (9:39), DRYS is trading at $3.33 per share after a loss of $0.92 per share (21.65%) thus far today.





DRYS Moves Forward With A Reverse Stock Split

As mentioned above, DryShips has been forced to move with yet another reverse stock split. The split was a 1 for 5, which means that for every 5 shares, investors now have 1 share that, at the time of the split, was worth 5 old shares. As we know, that value didn’t stick around for long.




The truth of the matter is that when we look at why DRYS needed to move forward with the split, it’s clear as to why investors are reacting negatively to it. At the end of the day, the NASDAQ has a rule that all stocks must maintain a price of $1 per share or more. Trading below that $1 puts listed companies at risk of being delisted. With the price under $1, the management team at DRYS couldn’t come up with a way to push the value up and they surely weren’t going to invest their own money. So, once again the company did what they have been known to do, push the value up at the expense of investors.

The truth of the matter is that this isn’t the first reverse split out of DryShips recently. In fact, reverse splits seem to be a common occurrence surrounding the stock. That’s because the stock has taken a dive over the past year, in fact, it has lost a dramatic amount of money year to date. If we take away all of the reverse stock splits, it’s easy to see that DRYS has lost approximately 99.9% of its value year to date. To put that into perspective, if you had $100 invested in the company on January 1st, you now have about a dollar left!

Ditch This Warm Pile Of Manure!

The bottom line is that DRYS simply doesn’t have a leg to stand on. George Economou, the CEO of the company has poisoned the stock with toxic financing while he continues to take an exorbitant salary at the expense of investors. Through the process of loaning the company money at exorbitant rates, and laying the risk of these loans on DryShips, Economou has set a plan in place by which he is able to take the money you invest and liquidate it into cash that’s destined for his own pocket.

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The Bottom Line

I’ve been saying this for some time now. DRYS will eventually make it to zero and those holding shares of the stock will be left holding an empty bag of Economou branded manure that’s too toxic to fertilize your roses with! Don’t trust me, do your own DD. Perform a couple of searches, learn about previous stock splits, dig into the finances, and take a look at Kalani investments. When you do, make sure you’re sitting down; the surprising picture would be enough to knock even the SEC off of their feet. That is, if they took the time to investigate!

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Seanergy Maritime Holdings Corp. SHIP Stock News

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is off to an incredible start to the trading session this morning, and for good reason. The company released new slides providing corporate updates. Of course, this led to excitement among investors and gains in the value of the stock. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:06), SHIP is trading at $0.83 per share after a gain of $0.13 per share (17.89%) thus far today.




SHIP Gains Big On Updated Slides

As mentioned above, Seanergy Maritime Holdings is having an incredibly strong day in the market today after releasing new slides that provide an update with regard to the corporation. Here are the key points offered in the presentation:



  • Modern, high quality fleet concentrating on Capesize vessels
  • Experienced management team and committed company sponsor
  • Strong relationships with leading dry bulk charters
  • Low Capesize acquisition costs and competitive cost structure
  • Solid corporate governance – no related party transactions in ship management or ship operations
  • Access to public capital markets through NASDAQ listing
  • Drybulk market fundamentals favor Capesize vessels over the next 5 years.

To view the entire presentation, click here.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on SHIP. In particular, we’re interested in following the company’s ongoing work to take a large share of the Capesize vessel market. We’ll continue to follow the story closely and bring the news to you as it breaks!

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Netflix, Inc. NFLX Stock News

Netflix, Inc. (NASDAQ: NFLX) is off to an incredibly strong run in the market at the moment, and for good reason. There’s a rumor that a billionaire investor has a stake in the stock. Of course, this led to excitement among investors, causing gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (10:16), NFLX is trading at $154.47 per share after a gain of $2.42 per share (1.59%) thus far today.





NFLX Gains On Buffet Stake Rumor

As mentioned above, Netflix is making a run for the top at the moment as the result of a rumor that’s surfacing on social media. The rumor is that Warren Buffet has taken a stake in the company. However, the rumor doesn’t suggest what type of stake it is (activist or passive), nor does the rumor suggest the size of the stake that Buffet supposedly has in NFLX.




It’s important to remember that rumors are abundantly common in the market. In most cases, these rumors prove to be invalid. While it’s understandable that Buffet may be interested in NFLX at the moment, there is no confirmation, no SEC filing, and nothing else that suggests that this rumor is true. So, if you’re going to trade on this one, please be sure to do so with caution.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on NFLX. In particular, we’re interested in following the news surrounding Warren Buffet’s potential stake in the company. We’ll continue to follow the story closely and bring the news to you as it breaks!

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Whole Foods Market, Inc. WFM Stock News

Whole Foods Market, Inc. (NASDAQ: WFM) is halted early on this morning, and for good reason. An announcement recently came out that Amazon (AMZN) would be taking the company over. Of course, our partners at Trade Ideas were the first to alert us to the halt. At the moment, WFM is halted at $33.06 per share after no gain.





AMZN To Buy WFM

As mentioned above, Whole Foods Market is halted early on this morning after news broke that the company would be acquired. Various publications are reporting that AMZN and WFM have signed a definitive merger agreement. Under this agreement Amazon will be paying $42 per share in an all-cash transaction that comes to a total of $13.7 billion. This figure includes debt owed by WFM. In a statement, Jeff Bezos, founder and CEO at AMZN, had the following to offer…




Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy… Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue.”

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on AMZN and WFM. In particular, we’re interested in watching this acquisition as it is still subject to customary closing conditions. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!

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IEG Holdings IEGH Stock News

For OneMain shareholders, the tender offer made by IEG Holdings is nearing its term, with IEGH announcing that the final day for OMF shareholders to accept the offer will be June 15, 2017. For OneMain shareholders, the deal could help to replace what IEGH refers to as an antiquated model of doing business, and IEGH believes that shareholders should accept the tender offer or face long term uncertainty. As of yesterday’s close, the IEGH offer presented a premium in excess of 130% to the OMF share price.IEGH Could Change The Face Of OneMain




The IEGH tender seeks to purchase up to 4.99% of OneMain holdings by offering 20 shares of IEGH for each share of OMF. The deal which is set to expire on Thursday is offering a premium to OMF shares in excess of 130% as of yesterday’s IEGH closing price. To date, OMF shareholders have tendered over $2.7 million worth of shares to the deal.




IEGH management has shown that the offering is not as inequitable as OMF has tried to claim. First, IEGH offers a far more efficient and current sales platform, utilizing on-line and social media presence to drive loan origination. OMF relies on mostly brick and mortar operations to conduct business, which IEGH points out is far more expensive and less likely puts OMF in a position to adapt quickly to market change and demand.

IEGH can bring a new identity to the current OMF model, which uses lengthy application processes. IEGH offers same day acceptance and funding to worthy applicants. The IEGH model uses strict underwriting standards and has demonstrated industry low loss levels with less than 13% of current loans in arrears in its loan book. IEGH, through its Mr. Amazing Loans product boast of the ability to facilitate application, loan documentation and funding completed 100% online and in most cases within minutes of submitting the application.

IEGH is debt free and cash flow positive. Additionally, IEGH has recorded strong revenue growth with 2016 revenue increasing 16.3% to $2.135 million. Insider ownership is extremely high with 71% of the outstanding shares owned by insiders, an amount that clearly aligns shareholder interest with that of company management.

The IEGH Take

While OMF shareholders may have been advised that the IEGH offer is undervaluing its company, the truth of the matter may be that OMF is, in fact, a wilting flower. The shift in the industry has been toward on-line application, approval and funding. OMF revenue growth has been idle and the balance sheet has weakened to do amortization and loan losses.

The terms of this deal are not unique to mergers and acquisitions. Recently, Bendon completed a merger with Naked Brands (NAKD) in a deal that has some similarities. For Bendon, the merger allows the company to expand aggressively in certain U.S. markets by utilizing the current listing of NAKD shares in the public markets. While Bendon market value dwarfed the market cap of NAKD, the deal offered accretive opportunities for Bendon to capitalize upon. The same may be true for OMF shareholders if they accept the deal.

Of immediate value would be for OMF to quickly assimilate its platform with IEGH’s and offer a business model that can come to terms with lending in the 21st century. Shareholders may want to look past the simple numbers associated to the deal, even though it offers a substantial premium to OMF share price, and acknowledge the strengths that a combined company can offer.

For shareholders that already tendered shares, the best outcome may be for others to join the deal and position OMF to be a leader in the industry, rather than relying on a business model that is losing market attention. For OMF shareholders that are looking for a renewed level of revenue growth and long-term opportunity, the IEGH offer may provide the solution needed.

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Thought Leader Discussions

Gevo, Inc. GEVO Stock News

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Gevo, Inc. (NASDAQ: GEVO) Before we get into this interview, I'd like to extend a special thanks to my friend Joey who both set up the...