Blue-chip stocks are modestly lower today as conflicting economic news and a couple of big earnings announcements weigh on investors' minds. With roughly an hour left in the trading session, the Dow Jones Industrial Average (DJINDICES: ^DJI ) is off by a mere 10 points, or 0.07%.
On the economic front, the Department of Commerce reported this morning (click here for the press release -- link opens PDF) that domestic orders for durable goods -- typically, big-tickets items designed to last at least three years -- dropped by 5.7% last month compared to February. The decline was led by a 48% fall in sales of nondefense aircraft and parts.
In slightly more upbeat news, the Mortgage Bankers Association released data this morning showing that mortgage applications increased 0.2% last week. On the heels of this news, shares of the nation's largest banks are heading higher. Bank of America (NYSE: BAC ) is up by 2.4%, while JPMorgan Chase (NYSE: JPM ) is higher by 1.4%. Both banks reported impressive year-over-year gains in mortgage-origination volumes when they released earnings earlier this month: Bank of America's were up by 50%, and JPMorgan's by 37%.
Top 10 Gold Stocks To Watch Right Now: Barclays PLC (GRN)
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. The Company�� operations include its overseas offices, subsidiaries and associates. The Company operates in eight segments: UK Retail and Business Banking (UK RBB), Europe Retail and Business Banking (Europe RBB), Africa Retail and Business Banking (Africa RBB), Barclaycard, Barclays Investment Bank, Barclays Corporate Banking, Wealth and Investment Management, and Head Office and Other Operations. Advisors' Opinion:- [By Brian Pacampara]
Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, the iPath Global Carbon ETN (NYSEMKT: GRN ) has received the dreaded one-star ranking.
- [By Todd Shriber, ETF Professor]
Big losers (down at least 5%): Direxion Daily Gold Miners Bear 3X Shares (NYSE: DUST), iPath Global Carbon ETN (NYSE: GRN), iShares MSCI Emerging Markets Value ETF (NYSE: EVAL) and the PureFunds ISE Mining Service ETF (NYSE: MSXX).
- [By Todd Shriber, ETF Professor]
Big winners (up at least 5%): VelocityShares 3x Inverse Natural Gas ETN (NYSE: DGAZ), iPath Global Carbon ETN (NYSE: GRN), ProShares UltraShort DJ-UBS Natural Gas (NYSE: KOLD) and the ProShares MSCI UltraShort Mexico (NYSE: SMK).
Best Bank Companies For 2014: UniCredit SpA (UCG)
UniCredit SpA is an Italy-based holding company engaged in the financial sector. The Company�� division model is based on four pillars: Customer Centricity, A Multi-Local Approach, Global Product Lines, and Global Service Lines. The Customer Centricity area focuses on the Retail, Corporate & Investment Banking and Private Banking areas. The Centralized Multi-Local Approach takes responsibility for the distribution networks and customer relationships. The Global Products Lines are responsible for developing the products and services across all geographic areas. The Global Service Lines which supply the network coverage functions and product factories with specialized services, including Banking Back Office, Information and Communication Technology, Credit Collection, Procurement Services, Real Estate and Shared Service Centers. On October 28, 2013, the aggregate sale by UniCredit SpA of Fondiaria Sai SpA equal to 6.7% was complied. Advisors' Opinion:- [By Tom Stoukas]
UniCredit (UCG), Italy�� largest bank, lost 1.3 percent to 4.71 euros. Intesa Sanpaolo, which appointed Carlo Messina as chief executive officer to replace Enrico Tommaso Cucchiani yesterday, fell 3.5 percent to 1.53 euros. Mediaset SpA, the broadcaster controlled by Berlusconi, dropped 4.5 percent to 3 euros, the lowest price since July 3.
- [By Jonathan Morgan]
UniCredit SpA (UCG) added 2.2 percent to 4.26 euros. Italy�� biggest bank said second-quarter net income climbed to 361 million euros from 169 million euros a year earlier. That was in line with the 360 million-euro average estimate of eight analysts surveyed by Bloomberg. The Milan-based bank posted a 254 million-euro return from the buyback of 4.2 billion euros of senior securities in April, according to a statement today.
- [By Corinne Gretler]
Norsk Hydro (NHY) ASA slumped the most in one year after Vale SA sold a stake in the aluminum maker. UniCredit SpA (UCG) and Infineon Technologies AG added at least 1 percent each after posting quarterly profit that beat projections. Henkel AG rose 2.1 percent as third-quarter profit beat analysts��estimates.
- [By Alexis Xydias]
Banks led the rally over the past four months, with Paris-based Societe Generale SA (GLE) and UniCredit SpA (UCG), Italy�� biggest lender, surging more than 45 percent.
Best Bank Companies For 2014: Bar Harbor Bankshares (BHB)
Bar Harbor Bankshares (BHB), incorporated on January 19, 1984, is a bank holding company. The Company has one wholly owned operating subsidiary, Bar Harbor Bank & Trust (the Bank), which offers a range of deposit, loan, and related banking products, as well as brokerage services provided, through a third-party brokerage arrangement. In addition, the Company offers trust and investment management services, through its subsidiary, Bar Harbor Trust Services (Trust Services), a trust company. These products and services are offered to individuals, businesses, not-for-profit organizations and municipalities. In August 2012, the Company announced that its principal subsidiary, Bar Harbor Bank & Trust, acquired Border Trust Company (Border Trust), a subsidiary of Border Bancshares, Inc.
Bar Harbor Bank & Trust
The Bank has 12 branch offices located throughout downeast and midcoast Maine, including its principal office in Bar Harbor. The Bank�� offices are located in Hancock, Washington and Knox Counties, representing the Bank�� principal market areas. The Hancock County offices, in addition to Bar Harbor, are located in Blue Hill, Deer Isle, Ellsworth, Northeast Harbor, Somesville, Southwest Harbor, and Winter Harbor. The Washington County offices are located in Milbridge, Machias, and Lubec. The Knox County office is located in Rockland. The Bank delivers its operations and technology support services from its operations center located in Ellsworth, Maine.
The Bank is a retail bank serving individual and business customers, retail establishments and restaurants, seasonal lodging, biological research laboratories, and a contingent of retirees. As a coastal bank, it serves the tourism, hospitality, lobstering, fishing, boat building and marine services industries. It also serves Maine�� wild blueberry industry through its Hancock and Washington County offices. The Bank operates in a market that includes other community banks, savings institutions, credit unions, a! nd branch offices of statewide and interstate bank holding companies located in the Bank�� market area.
The Bank offers a variety of consumer financial products and services. The Bank�� retail deposit products and services include checking accounts, interest bearing negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts, club accounts, short-term and long-term certificates of deposit, health savings accounts and individual retirement accounts. Credit products and services include home mortgages, residential construction loans, home equity loans and lines of credit, credit cards, installment loans, and overdraft protection services. The Bank provides secured and unsecured installment loans for new or used automobiles, boats, recreational vehicles, mobile homes and other personal needs. The Bank also offers other customary products and services, such as safe deposit box rentals, wire transfers, check collection services, foreign currency exchange, money orders, and United States Savings Bonds redemptions.
The Bank retains Infinex Investments, Inc., (Infinex) as a third-party broker-dealer, conducting business business name Bar Harbor Financial Services. Bar Harbor Financial Services is a branch office of Infinex, an independent registered broker-dealer offering securities and insurance products that is not affiliated with the Company or its subsidiaries. Bar Harbor Financial Services principally serves the brokerage needs of individuals, including first-time purchasers and investors. It also offers a line of life insurance, annuity, and retirement products, as well as financial planning services. The Bank offers Internet banking services, including free check images and electronic bill payment, through its Website at www.BHBT.com. Additionally, the Bank offers TeleDirect, an interactive voice response system, through which customers can check account balances and activity, as well as initiate money transfers between their accounts. Automated te! ller mach! ines (ATMs) are located at each of the Bank�� 12 branch locations, as well as two machines in non-Bank locations. The Bank is also a member of Maine Cash Access, providing customers with surcharge-free access to 217 ATMs throughout the state of Maine. Visa debit cards are also offered, providing customers with free access to their deposit account balances at point of sale locations worldwide.
The Bank serves the small business market throughout downeast and midcoast Maine. It offers business loans to individuals, partnerships, corporations, and other business entities for capital construction, real estate and equipment financing, working capital, real estate development, and a range of other business purposes. Business loans are provided primarily to organizations and sole proprietors in the tourism, hospitality, healthcare, blueberry, boatbuilding, and fishing industries, as well as to other small and mid-size businesses associated with coastal communities.
The Bank offers a variety of commercial deposit accounts, including business checking and tiered money market accounts. These accounts are typically used as operating accounts or short-term savings vehicles. The Bank�� cash management services provide business customers with short-term investment opportunities through a cash management sweep program, whereby excess operating funds over established thresholds are swept into overnight securities sold under agreements to repurchase. The Bank also offers Business On Line Direct (BOLD), an Internet banking service for businesses. This service allows business clients to view their account histories, print statements, view check images, order stop payments, transfer funds between accounts, transmit automated clearing house (ACH) files, and order both domestic and foreign wire transfers. The Bank also offers remote deposit capture, enabling its business customers to deposit checks remotely. Other commercial banking services include merchant credit card processing provided throu! gh a thir! d party vendor, night depository, and coin and currency handling.
Bar Harbor Trust Services
Trust Services provides a range of trust and investment management services to individuals, businesses, not-for-profit organizations, and municipalities. Trust Services serves as trustee of both living trusts and trusts under wills, including revocable and irrevocable, charitable remainder and testamentary trusts, and in this capacity holds, accounts for and manages financial assets, real estate and special assets. Trust Services offers custody, estate settlement, and fiduciary tax services. Additionally, Trust Services offers employee benefit trust services, for which it acts as trustee, custodian, administrator and/or investment advisor, for employee benefit plans and for corporate, self employed, municipal and not-for-profit employers located throughout the Company�� market areas. As of December 31, 2011, Trust Services served 758 client accounts.
Advisors' Opinion:- [By Marc Bastow]
Bar Harbor, Maine based bank holding company Bar Harbor Bankshares (BHB) raised its quarterly dividend 1.6% to 32 cents per share, payable on Dec. 13 to shareholders of record as of Nov. 15. The increase marks the 10th consecutive quarter of dividend increases.
BHB Dividend Yield:�3.39% - [By Marc Bastow]
Bar Harbor, Maine-based bank holding company Bar Harbor Bankshares (BHB) raised its quarterly dividend 1.6% to 32.5 cents per share, payable on Mar. 14 to shareholders of record as of Feb. 15.
BHB Dividend Yield: 3.37%
Best Bank Companies For 2014: Umpqua Holdings Corp (UMPQ)
Umpqua Holdings Corporation (Umpqua) is a financial holding company. Umpqua has two principal operating subsidiaries, Umpqua Bank (the Bank) and Umpqua Investments, Inc. (Umpqua Investments). The Bank is primarily engaged in the business of commercial and retail banking and the delivery of retail brokerage services. The Bank provides a range of banking, wealth management, mortgage banking and other financial services to corporate, institutional and individual customers. Umpqua Investments is a broker-dealer and investment advisor with offices in Portland, Lake Oswego, Medford, Oregon, and in many Umpqua Bank stores. Umpqua Investments offers a range of investment products and services, including stocks, fixed income securities (municipal, corporate, and government bonds, Certificate of Deposits (CDs), and money market instruments), mutual funds, annuities, options, retirement planning, money management services and life insurance. In December 2011, the Bank launched a commercial real estate division. In November 2012, the Company acquired Circle Bancorp, parent company of Circle Bank. In July 2013, Umpqua Holdings Corp completed its acquisition of Financial Pacific Holding Corp.
The Company offers a Switch Kit, which allows a customer to open a primary checking account with Umpqua Bank in less than 10 minutes. Other avenues, through which customers can access its products, include its Website equipped with an e-switchkit, which includes Internet banking through umpqua.online, mobile banking, and its 24-hour telephone voice response system. Umpqua Private Bank serves high net worth individuals with liquid investable assets by providing customized financial solutions and offerings. Umpqua private bank works collaboratively with the Bank�� affiliate retail brokerage Umpqua Investments and with the independent capital management firm Ferguson Wellman Capital Management. Umpqua Investments provides a range of brokerage services, including equity and fixed income products, mutual funds, annui! ties, options, retirement planning and money management services. Additionally, Umpqua Investments offers life insurance policies. At December 31, 2011, Umpqua Investments had 41Series seven-licensed financial advisors serving clients at three stand-alone retail brokerage offices and Investment Opportunity Centers located in many Bank stores.
Lending Activities
Umpqua offers loans for business and commercial customers, including accounts receivable and inventory financing, equipment loans, international trade, real estate construction loans and permanent financing and SBA program financing, as well as capital markets and treasury management. Additionally, it offers designed loan products for small businesses through its Small Business Lending Center. It also has a business banking division to increase lending to small and mid-sized businesses. The Company is also engaged in initiatives that continue to diversify the loan portfolio, including a focus on commercial and industrial loans in addition to financing owner-occupied properties.
Real estate loans are available for construction, purchase and refinancing of residential owner-occupied and rental properties. Borrowers can choose from a variety of fixed and adjustable rate options and terms. It sells residential real estate loans that originate into the secondary market. It also supports the Home Affordable Refinance Program and Home Affordable Modification Program. The Bank also provide loans to individual borrowers for a variety of purposes, including secured and unsecured personal loans, home equity and personal lines of credit and motor vehicle loans. The Bank makes both secured and unsecured loans to individuals and businesses. During 2011, its commercial real estate, commercial, residential, and consumer and other represented approximately 64%, 25%, 10%, and 1%, respectively, of the total non-covered loan and lease portfolio.
Source of Funds
The Company offers an array of deposit p! roducts, ! including non-interest-bearing checking accounts, interest-bearing checking and savings accounts, money market accounts and certificates of deposit. These accounts earn interest at rates established by management based on market factors. It also offers a seniors program to customers over fifty years old, which includes an array of banking services and other amenities, such as purchase discounts, vacation trips and seminars.
Investment Activities
As of December 31, 2011, Umpqua's portfolio of investments securities included securities issued by United States Treasury and agencies, and residential mortgage-backed securities and collateralized mortgage obligations. It also includes obligations of states and political subdivisions, other debt securities, and investments in mutual funds and other equity securities.
Advisors' Opinion:- [By Roberto Pedone]
Umpqua (UMPQ) is engaged in the business of commercial and retail banking and the delivery of retail brokerage services. This stock closed up 5% at $17.11 in Monday's trading session.
Monday's Volume: 2.16 million
Three-Month Average Volume: 686,781
Volume % Change: 235%From a technical perspective, UMPQ ripped sharply higher here right off its 50-day moving average of $16.51 with strong upside volume. This move is quickly pushing shares of UMPQ within range of triggering a big breakout trade. That trade will hit if UMPQ manages to take out Monday's intraday high of $17.46 and then once it clears its 52-week high at $17.48 with high volume.
Traders should now look for long-biased trades in UMPQ as long as it's trending above its 50-day at $16.51 or above more near-term support at $16 and then once it sustains a move or close above those breakout levels with volume that's near or above 686,781 shares. If that breakout hits soon, then UMPQ will set up to enter new 52-week-high territory above, which is bullish technical price action. Some possible upside targets off that breakout are $20 to $23.
Best Bank Companies For 2014: Raymond James Financial Inc (RJF)
Raymond James Financial, Inc. (RJF) is a financial services holding company whose subsidiaries are engaged in various financial services businesses predominantly in the United States of America and Canada. At September 30, 2011, its principal subsidiaries include Raymond James & Associates, Inc. (RJ&A), Raymond James Financial Services, Inc. (RJFS), Raymond James Financial Services Advisors, Inc. (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc. (Eagle), and Raymond James Bank, FSB (RJ Bank). All of these subsidiaries are wholly owned by RJF. In April 1, 2011, the Company acquired Howe Barnes Hoefer & Arnett (Howe Barnes). The Company operates through eight business segments: Private Client Group, Capital Markets, Asset Management, RJ Bank, Emerging Markets, Securities Lending, Proprietary Capital and various corporate activities combined in the Other segment. In April 2012, Regions Financial Corporation sold Morgan Keegan & Company, Inc. and related affiliates to RJF.
PRIVATE CLIENT GROUP
The Company provides securities transaction and financial planning services to approximately two million client accounts through the branch office systems of RJ&A, RJFS, RJFSA, RJ Ltd. and Raymond James Investment Services Limited (RJIS), a joint venture in the United Kingdom. Its financial advisors offer a range of investments and services, including both third-party and products, and a variety of financial planning services. The Company charges sales commissions or asset-based fees for investment services it provides to its Private Client Group clients based on established schedules. Varying discounts may be given, generally based upon the client's level of business, the trade size, service level provided, and other relevant factors. During the fiscal year ended September 30, 2011 (fiscal 2011), the portion of revenues from this segment that the Company considers recurring include sources, such as asset-based fees, including mutual fund and annuity trailing commissions, ! and interest income and represented approximately 61% of the Private Client Group's total revenues. Its financial advisors offer a number of professionally managed load mutual funds, as well as a selection of no-load funds. RJ&A and RJFS maintain dealer sales agreements with distributors of mutual fund shares sold through broker-dealers.
The Company�� principal subsidiary, RJ&A, is the full service brokerage and investment firm headquartered in the state of Florida and with over 220 locations throughout the United States, is a retail brokerage firms in the country. RJ&A is a self-clearing broker-dealer engaged in most aspects of securities distribution, trading, investment banking and asset management. RJ&A also offers financial planning services for individuals and provides clearing services for RJFS, RJFSA, other affiliated entities and several unaffiliated broker-dealers. RJFS is an independent contractor brokerage firms in the United States., is a member of Financial Industry Regulatory Authority (FINRA) and Securities Investors Protection Corporation (SIPC), but is not a member of any exchanges. Financial advisors affiliated with RJFS may offer their clients all products and services offered through RJ&A, including investment advisory products and services which are offered through its affiliated registered investment advisor, RJFSA. RJ Ltd. is its Canadian broker-dealer subsidiary, which is engaged in both retail and institutional distribution and investment banking. RJ Ltd. is a member of the Toronto Stock Exchange (TSX) and the Investment Industry Regulatory Organization of Canada (IIROC). Its United States broker-dealer subsidiary is a member of FINRA and SIPC.
CAPITAL MARKETS
Capital Markets activities consist primarily of equity and fixed income products and services. Its institutional clients are serviced by institutional equity departments of RJ&A and RJ Ltd.; the RJ&A fixed income department; RJ&A�� European offices; Raymond James Financial Intern! ational, ! Ltd, an institutional UK broker-dealer, and Raymond James European Securities, Inc., a joint venture, in which the Company hold a controlling interest. The Company charges commissions on equity transactions based on trade size and the amount of business conducted annually with each institution. Fixed income commissions are based on trade size and the characteristics of the specific security. Some European and United States offices also provide services to high net worth clients. RJ Ltd. has approximately 40 institutional equity sales and trading professionals servicing predominantly Canadian, United States and European institutional investors from offices in Canada and Europe.
Trading equity securities involves the purchase and sale of securities from and to its clients or other dealers. RJ&A makes markets in over 900 common stocks. The RJ Ltd. trading desks not only support client activity, but also take positions that are closely monitored within well defined limits. RJ Ltd. also provides specialist services in approximately 150 TSX listed common stocks. RJ&A trades both taxable and tax-exempt fixed income securities. The taxable and tax-exempt RJ&A fixed income traders purchase and sell corporate, municipal, government, government agency, and mortgage-backed bonds, asset-backed securities, preferred stock and certificates of deposit from and to its clients or other dealers.
Fixed income investment banking includes debt underwriting and public finance activities. The syndicate department consists of professionals who coordinate the marketing, distribution, pricing and stabilization of lead and co-managed equity underwritings. In addition to lead and co-managed offerings, this department coordinates the firm's syndicate and selling group activities in transactions managed by other investment banking firms. Raymond James Tax Credit Funds, Inc. (RJTCF) is the general partner or managing member in a number of limited partnerships and limited liability companies. These partnershi! ps and li! mited liability companies invest in real estate project entities that qualify for tax credits under Section 42 of the Internal Revenue Code.
ASSET MANAGEMENT
The Company�� Asset Management segment includes the operations of Eagle, the Eagle Family of Funds (Eagle Funds), the asset management operations of RJ&A (AMS), Raymond James Trust, and other fee-based programs. The majority of the revenue for this segment is generated by the investment advisory fees related to asset management services for individual investment portfolios and mutual funds. Investment advisory fees are also earned on assets held in managed and non-managed programs. Eagle Fund Distributors, Inc. (EFD), a wholly owned subsidiary of Eagle, is a registered broker-dealer engaged in the distribution of the Eagle Funds. The Eagle Funds utilize unaffiliated sub-advisors for the Capital Appreciation Fund and International Equity Fund. The Small Cap Growth Fund, Mid Cap Growth Fund, Growth and Income Fund, Large Cap Core Fund, Mid Cap Stock Fund, Investment Grade Bond Fund, and Small Cap Core Value Fund are managed by Eagle.
AMS
AMS manages several investment advisory programs which maintain an approved list of investment managers, provide asset allocation model portfolios, establish custodial facilities, monitor performance of client accounts, provide clients with accounting and other administrative services, and assist investment managers with certain trading management activities. In addition, AMS offers additional managed accounts managed within fee based asset allocation platforms under its Freedom accounts and other managed programs. Freedom�� investment committee manages portfolios of mutual funds, exchange traded funds and separately managed account models on a discretionary basis. AMS also provides certain services for their non-managed fee-based programs (Passport, Ambassador and other non-managed programs). They provide performance reporting, research, sales, accounting, trad! ing and o! ther administrative services. Client fees are based on the individual account or relationship size and may also be dependent on the type of securities in the accounts.
Raymond James Trust, National Association, (RJT) provides personal trust services primarily to existing clients of its broker-dealer subsidiaries. Portfolio management of trust assets can be subcontracted to its asset management operations. This subsidiary had a total of approximately $2 billion in client assets at September 30, 2011, including nearly $120 million in the donor-advised charitable foundation known as the Raymond James Charitable Endowment Fund.
RJ BANK
RJ Bank is a federally chartered savings bank, regulated by the Office of the Comptroller of the Currency (OCC), which provides corporate, residential and consumer loans, as well as Federal Deposit Insurance Corporation (FDIC) insured deposit accounts, to clients of our broker-dealer subsidiaries and to the general public. RJ Bank is active in corporate loan syndications and bank participations as well as purchases residential whole loan packages to hold for investment. RJ Bank generates revenue principally through the interest income earned on loans and investments, which is offset by the interest expense it pays on client deposits and on its borrowings.
RJ Bank�� assets include C&I loans, commercial and residential real estate loans, as well as consumer loans that were purchased or originated by RJ Bank. Corporate loans represent approximately 75% of RJ Bank�� loan portfolio of which 90% are Shared National Credits (SNC) or other large syndicated loans. RJ Bank purchases and originates corporate loans secured by corporate assets, commercial and industrial (C&I) loans, commercial and residential real estate loans, as well as consumer loans, all of which are funded primarily by cash balances swept from the investment accounts of our broker-dealer subsidiaries��clients.
EMERGING MARKETS
Raymond! James In! ternational Holdings, Inc. (RJIH), through its subsidiaries, has interests in operations in Latin American countries including Argentina, Uruguay and Brazil. Through these entities it operates securities brokerage, investment banking, asset management and equity research businesses. In fiscal 2011, approximately 75% of this segments��investment banking revenues arose from one client.
SECURITIES LENDING
This segment conducts its business through the borrowing and lending of securities from and to other broker-dealers, financial institutions and other counterparties. The Company conducts these activities as an intermediary. Securities Lending will also loan customer marginable securities held in a margin account containing a debit to counterparties. The borrower of the securities puts up a cash deposit on which interest is earned. The lender in turn receives cash and pays interest. These cash deposits are adjusted daily to reflect changes in the current market value of the underlying securities. Additionally, securities are borrowed from other broker-dealers to facilitate RJ&A�� clearance and settlement obligations. The net revenues of this securities lending business are the interest spreads generated.
PROPRIETARY CAPITAL
This segment consists of its principal capital and private equity activities, including various direct and third-party private equity and merchant banking investments; Raymond James Employee Investment Funds I and II (the EIF Funds), and a private equity fund which we sponsor-Raymond James Capital Partners, L.P. As of September 30, 2011, certain of its merchant banking investments include an investment in a manufacturer of crime investigation and forensic supplies, an event photography business, and an indirect investment in an allergy immunotherapy testing and treatment supply company.
Advisors' Opinion:- [By Eric Volkman]
The joint book-running managers of the issue are Raymond James Financial (NYSE: RJF ) unit Raymond James & Associates, Royal Bank of Canada's (NYSE: RY ) RBC Capital Markets, and the Securities divisions of Credit Suisse and Deutsche Bank (NYSE: DB ) . The sale is expected to close on May 28.
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