Stocks Under $10: Yamana Gold
Frank Curzio is the portfolio manager of Stocks Under $10, and he shows you how to profit off of fear and forced selling.
Watch his video on whether or not to buy
Yamana Gold
(AUY) - Get Free Report
.
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Big News of the Week
Two stocks under $10 merged,
Plute Homes
(PHA)
and
Centex
(CTX)
. Pulte will buy Centex for $1.3 billion and create the country' biggest homebuilder.
Life insurance companies under $10 received a boost mid-week. The Treasury Department will make TARP funds available to qualifying life insurers. On the news, shares of
Hartford Financial Services
(HIF)
and
Lincoln National
(LNC) - Get Free Report
jumped.
Bank stocks received mixed reviews last week. Mike Mayo, a
Calyon
analyst, said that bank loan losses could exceed the Great Depression. He also initiated ratings on financials under $10 like
Bank of America
(BAC) - Get Free Report
and
Citigroup
(C) - Get Free Report
with underperform ratings. Billionaire investor George Soros also weighed in and predicted that the U.S. economy won't recover until 2010.
Dick Bove, Rochdale Securities analyst, made headlines by saying BofA's stock would return to all-time highs. Meanwhile, an Oppenheimer analyst lowered quarterly and full-year estimates for the bank.
General Motors
(GM) - Get Free Report
announced a partnership with
Segway
and unveiled a two-wheeled electric car. Competitor,
Ford
(F) - Get Free Report
completed a tender offer and reduced its debt by $9.9 billion.
IBM
(IBM) - Get Free Report
dropped its bid for
Sun Microsystems
(JAVA)
which drove down Sun's shares.
Finally, first-quarter earnings season unofficially kicked off with numbers from
Alcoa
(AA) - Get Free Report
. The aluminum company reported a loss of 59 cents a share and a 36% decline in revenue based on weak demand and the sluggish economy.
Tune in to the Real Story podcast where Frank takes you beyond the headlines to tell you what's really going on in the market.
Click on this link
to subscribe to the podcast today!
Alix joined TheStreet.com TV in February 2007. Previously, she held positions in film and theater production, management, and legal administration. Alix has a degree in communications and theater from Northwestern University.
