Following Up on Our Newest Stock
With a new stock in our portfolio,and a number of news items hitting the market this week, let’s get right down to this week’s Market Recap…
On Monday morning, we added AllianceBernstein (NYSE:AB) to the Rhino Stock Report portfolio (read the full analysis here), opening our position in the stock at $25.82. In the days since, shares have traded mostly flat, a fact that’s left the stock well within our buying range.
We’ve had a fairly large influx of new Rhino Stock Report readers in the last month, so the fact that AllianceBernstein’s shares are still right around are entry point are significant – if you haven’t had a chance to pick up shares of this stock yet, now is your chance.
SPX Corp. Pays Out And Picks Up
Shares of SPX Corporation (NYSE:SPW) saw some bullish momentum this week following news that the company would be supplying Toyota with a new vehicle interface module for its diagnostic tools. While the deal isn’t valuation-changing for SPX Corp, it should help pick up this company’s investor profile.
If you own shares, you’ll also have some income coming your way soon – the company’s 25 cent per share dividend is payable on October 5.
NRG Makes Another Acquisition
Our wholesale power generation play, NRG Energy (NYSE:NRG) made yet another purchase this week, spending $350 million in a buyout of Green Mountain Energy. The deal will be immediately accretive to earnings and free cash flow.
Watch for Your Quarterly Letter This Month…
I’m in the process of ramping up a few operational changes here at the Rhino Stock Report – one being the addition of a quarterly letter to subscribers. Much like a hedge fund’s letter to shareholders, our quarterly letter will take a look at our performance, decisions, and strategy for the coming quarter.
It’s just one of the steps we’re taking to increase transparency and operate the Rhino Stock Report more like a money management firm than an investment newsletter…
We’ve had some very strong performance lately – I’ll fill you in on the specifics at the end of the month.
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