Gov. Neil Abercrombie signed the minimum wage bill into law in a ceremony Friday, marking the first time Hawaii's minimum wage will be raised from $7.25 since 2007.
The increase will be phased in gradually over four years. Abercrombie said he wished the hike was coming quicker, but "we're swimming in the water that we're in."
"I always thought it's not a minimum wage, it's a survival wage," Abercrombie said. "And in today's world, that minimum wage is not a survival wage, certainly in Hawaii."
Hawaii is the third state this year to increase its minimum wage to $10.10 per hour, following Connecticut and Maryland, said Jack Temple, policy analyst for the National Employment Law Project.
Top 5 Cheap Companies To Invest In Right Now: Archer-Daniels-Midland Company(ADM)
Archer Daniels Midland Company procures, transports, stores, processes, and merchandises agricultural commodities and products in the United States and internationally. It operates in three segments: Oilseeds Processing, Corn Processing, and Agricultural Services. The Oilseeds Processing segment engages in originating, merchandising, crushing, and processing oilseeds, such as soybeans, cottonseed, sunflower seeds, canola, rapeseed, peanuts, flaxseed, and palm into vegetable oils and protein meals. This segment also produces edible soy protein products, including soy flour, soy grits, soy protein concentrates, soy isoflavones, and soy isolates that are used in processed meats, baked foods, nutritional products, snacks, and dairy and meat analogs. The Corn Processing segment involves in corn wet milling and dry milling activities; and produces alcohol, amino acids, and other specialty food and animal feed ingredients, as well as ethyl alcohol. This segment also produces citr ic and lactic acids, lactates, sorbitol, xanthan gum, and glycols that are used in various food and industrial products, as well as astaxanthin, a product used in aquaculture to enhance flesh coloration. The Agricultural Services segment buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities as food and feed ingredients for the agricultural processing industry. This segment also processes and distributes edible beans, formula feeds, and animal health and nutrition products. In addition, the company engages in milling wheat, corn, and milo into flour, as well as produces bakery products and mixes, wheat starch, gluten, and cocoa products that are sold to the baking industry; and involves in financial activities related to private equity fund investments, and futures commission merchant activities. Archer Daniels Midland Company was founded in 1898 and is based in Decatur, Illinois.
Advisors' Opinion:- [By Maxx Chatsko]
That missing production is a slight blow in the short term. SRN was only going to contribute 2,500 MT of oils by the end of 2014 and, if expanded further, only 25,000 MT. By contrast, Solazyme will capture much larger production volumes with its partner Archer Daniels Midland (NYSE: ADM ) and in its joint venture with Bunge (NYSE: BG )
- [By Ben Levisohn]
Hear that sound? That’s the sound of Archer-Daniels-Midland’s (ADM) shares running out of gas.
Associated PressArcher’s stock has dropped 3.1% to $40.70 after reports that the EPA would cut the amount of ethanol required to be added to gasoline. The Wall Street Journal has the details:
The Environmental Protection Agency on Friday proposed for the first time to ease an annual requirement for ethanol in gasoline, acknowledging that mandated levels specified in a 2007 law are difficult, if not impossible, to meet.
The EPA is asking refiners in 2014 to blend 15.2 billion gallons of renewable fuel��ost of it ethanol��nto U.S. gasoline supplies. That is about 16% less than what Congress specified in a 2007 renewable fuels law. The law gives EPA the ability to lower the requirement.
Archer isn’t the only stock being hit today. Bunge (BG) has dropped 0.3% to $81.91, while Andersons (ANDE) has fallen 2.2% to $81.55.
Archer was already weak after reports that Australia would block its takeover of GrainCorp.
10 Best Prefered Stocks To Buy Right Now: Givaudan SA (GIVN)
Givaudan SA is a Switzerland-based holding company engaged in the fragrance and flavor industry. The Company has two business divisions: Fragrances and Flavors. The Fragrances business segment comprises the manufacture and sale of fragrances into three global business units: Fine Fragrances, comprising signature fragrances and line extensions, Consumer Products, comprising fabric and personal care, hair and skin care, household and air care, as well as oral care, and Fragrance Ingredients. The Flavors business division comprises the manufacture and sale of flavors into four business units: Beverages, comprising flavors for soft drinks, fruit juices and instant beverages; Dairy, comprising ice cream, yoghurt, desserts and yellow fats; Savory, covering soups and sauces, among others; and Confectionery. The Company is also engaged in research and development activities, which comprises the development of a palette of perfumery raw materials, both synthetic and natural. Advisors' Opinion:- [By Celeste Perri]
Nestle SA (NESN) is selling Givaudan (GIVN) SA shares worth $1.27 billion at yesterday�� closing price to institutional investors, winding down its stake in the world�� largest flavorings maker.
- [By Inyoung Hwang]
Berkeley Group Holdings Plc (BKG) surged 8.3 percent after saying first-half profit rose 22 percent. London Stock Exchange Group Plc (LSE) climbed 2.4 percent after Bank of America Corp.�� Merrill Lynch unit recommended buying the stock. Givaudan SA (GIVN) lost 1.3 percent after Nestle SA said it will sell $1.27 billion of shares in the world�� largest flavorings maker.
10 Best Prefered Stocks To Buy Right Now: Progress Energy Inc.(PGN)
Progress Energy, Inc., a utility holding company, engages in the generation, transmission, distribution, and sale of electricity in North Carolina, South Carolina, and Florida. It uses coal, oil, hydroelectric, natural gas, and nuclear power to generate electricity. The company also engages in various alternative energy projects to generate electricity from swine waste and other plant or animal sources, biomass, solar, hydrogen, and landfill-gas technologies. Progress Energy serves various industries, including chemicals, textiles, paper, food, metals, wood products, rubber and plastics, and stone products, as well as phosphate rock mining and processing, electronics design and manufacturing, and citrus and other food processing. It has approximately 22,000 megawatts of regulated electric generation capacity and serves approximately 3.1 million retail electric customers, as well as other load-serving entities. The company was formerly known as CP&L Energy, Inc. Progress En ergy, Inc. was founded in 1925 and is headquartered in Raleigh, North Carolina.
Advisors' Opinion:- [By Ben Levisohn]
We expect Caledonia to generate close to $600M in EBITDA. While RIGs mid-water OPEX has averaged about $125k/d we expect it to be lower at Caledonia. 2015 Consensus EBITDA for RIG is ~$3B which means 20% of RIGs 2015 EBITDA comes from the rigs that will become Caledonia. The problem (in a bear market) is that companies with lower end rigs trade at a discount ��just ask Awilco (AWLCF), Fred Olsen Energy, and Paragon Offshore (PGN) which trade at an average multiple of 3.3x on 2015 EBITDA versus RIG which trades at 6.3x.
- [By Holly LaFon] ess Energy shares climbed over 2011 as the company announced in January it would merge with Duke Energy. Together, they will form the nation�� largest utility with a combined enterprise value of $65 billion and $37 billion in market cap. The new company will have 57 gigawatts of domestic generating capacity through a mix of coal, nuclear, natural gas, oil and renewable resources. Progress energy shareholders will receive an approximately 3 percent dividend increase.
Incidentally, development of a comprehensive energy policy was one of what Grantham called ��he most important and most dangerous issues��facing the world.
Progress is at the forefront of the push for nuclear energy in the U.S., which has been deemed the ��uclear renaissance.��Thirty-five percent of the electricity used by Progress Energy customers comes from one of their four nuclear sites, two in North Carolina, and one each in South Carolina and Florida. It plans to build another reactor in Levy County, Florida.
Revenue at Progress Energy has declined at a 2.6% annual rate over the past five years, and it achieved cash flow of $95 million in 2010, after three years of losses. Earnings have remained positive, reaching a record for the decade of $856 million in 2010.
RSC Holdings (RRR)
RSC is a machinery rental service for construction, industrial, petrochemical, governmental and manufacturing businesses in the U.S. and Canada. RSC tends to benefit in economic downturns, as more businesses turn to renting rather than buying equipment to cut costs. Rented equipment rose 20.7% percent (the sixth consecutive quarter of double-digit growth) and rental revenue increased 27% in the fourth quarter of 2011, compared to last year.
United Rentals (URI), one of RSC�� largest competitors, had a rental revenue increase of 18.5% in the fourth quarter compared to last year, which included a 6.7% increase in rental rates.
The company�� fleet utilization also
10 Best Prefered Stocks To Buy Right Now: New Residential Investment Corp (NRZ)
New Residential Investment Corp., incorporated on September 26, 2013, is a real estate investment trust. The Company focuses on investing in, and actively managing, investments related to residential real estate. On May 15, 2013, Newcastle Investment Corp. announced that the spin-off of New Residential Investment Corp.
The Company is managed by an affiliate of Fortress Investment Group LLC, a global investment management. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments.
Advisors' Opinion:- [By Lauren Pollock]
New Residential Investment Corp.(NRZ) and other investors agreed to buy about $3.2 billion of servicing advances from Nationstar Mortgage Holdings Inc.(NSM), part of Nationstar’s plan to reconfigure its acquisition structure. The advances relate to nonagency residential mortgage loans with an unpaid principal balance of about $58 billion. Nationstar shares rose 4.1% to $42.50 in light premarket trading.
10 Best Prefered Stocks To Buy Right Now: Zhongpin Inc.(HOGS)
Zhongpin Inc. engages in the processing and distribution of meat and food products primarily in the People?s Republic of China. The company provides pork and pork products, such as chilled pork, frozen pork, hog by-products and variety meats, and prepared meats; and vegetable and fruit products, including asparagus, sweet corn, broccoli, mushrooms, lima beans, strawberries, and capsicums. It sells its products fast food companies, processing factories, school cafeterias, factory canteens, hotels, army bases, and government departments, as well as directly to retail outlets, including supermarkets. The company also exports its products to Europe, Hong Kong, and other countries in Asia. As of December 31, 2010, it operated 157 showcase stores, 1,072 branded stores, and 2,097 supermarket counter locations. The company is headquartered in Changge City, the People?s Republic of China.
Advisors' Opinion:- [By Dan Caplinger]
Obviously, the big news for Smithfield during the quarter came from Shuanghui International's offer to buy out the company for $34 per share. The $4.7 billion offer has raised some nationalistic concerns, as the Committee on Foreign Investment in the U.S. will have to approve the merger, but Smithfield CEO Larry Pope said last month when the deal was announced that it believes the deal won't have an effect on the company's operations. In fact, the combination of China's largest meat processor and the world's biggest pork producer could produce a formidable opponent to industry rivals. In particular, Chinese pork producer Zhongpin (NASDAQ: HOGS ) will inevitably find itself under pressure if the deal goes through, as Shuanghui puts itself in a stronger competitive position in the industry.
10 Best Prefered Stocks To Buy Right Now: (ARM)
ARM Holdings plc, together with its subsidiaries, engages in the design of microprocessors, physical IP, and related technology and software; and sale of development tools to enhance the performance of high-volume embedded applications. Its products include microprocessors cores, such as specific functions comprising video and graphics IP, fabric IP, embedded software, and configurable digital signal processing IP; physical IP components for the design and manufacture of integrated circuits, which comprise embedded memory, standard cell, and input/output components; software development tools that help software design engineers in the design and deployment of code, from applications running on open operating systems to low-level firmware. The company also offers support, maintenance, and training services, as well as design consulting services. ARM Holdings plc licenses and sells its technology and products to electronics companies, which in turn manufacture, market, and s ell microprocessors, application-specific integrated circuits, and application-specific standard processors to systems companies for incorporation into various end products, as well as licenses and sells development tools directly to systems companies and provides support services to licensees, systems companies, and other systems designers. It operates in Europe, the United States, and the Asia Pacific. The company was formerly known as Advanced RISC Machines Holdings Limited and changed its name to ARM Holdings plc in March 1998. ARM Holdings plc was founded in 1990 and is based in Cambridge, the United Kingdom.
Advisors' Opinion:- [By Tom Stoukas]
ARM Holdings Plc (ARM), whose chip designs power Apple Inc.�� iPhone and iPad, plunged 5.2 percent to 995 pence. Exane BNP Paribas downgraded the shares to neutral from outperform, saying that Intel Corp.�� new platform may enable it to outperform ARM�� designs.
- [By Sofia Horta e Costa]
ARM Holdings Plc (ARM) lost 2.6 percent, leading European technology companies lower before it publishes half-year results next week. IMI Plc (IMI) gained 2 percent as Citigroup Inc. listed the engineering company among its most preferred stocks.
- [By Sarah Jones]
European stocks jumped the most in eight months as ARM (ARM) Holdings Plc and Cie. Financiere Richemont SA reported results that topped estimates and speculation grew that the region�� central bank will cut interest rates.
- [By Namitha Jagadeesh]
ARM Holdings Plc (ARM) surged 12 percent after the designer of chips for Apple Inc.�� iPhone said April 23 that first-quarter revenue rose 29 percent to 170.3 million pounds. That beat the 160 million-pound average estimate of analysts surveyed by Bloomberg.
10 Best Prefered Stocks To Buy Right Now: WPCS International Incorporated(WPCS)
WPCS International Incorporated provides design-build engineering services for communications infrastructure. The company operates in three segments: Electrical Power, Wireless Communication, and Specialty Construction. The Electrical Power segment provides electrical contracting services to help commercial and industrial facilities for upgrading power systems; and creates integrated building systems, including the installation of structured cabling systems and electrical networks, as well as supports the integration of telecommunications, fire protection, security, and HVAC. The Wireless Communication segment designs and deploys wireless network solutions comprising Wi-Fi networks, point-to-point systems, mesh networks, microwave systems, cellular networks, in-building systems, and two-way communication systems. The Specialty Construction segment offers specialty construction services for building design, such as the design and integration of mechanical, electrical, hydra ulic, and life safety systems. The company provides its services to public services, healthcare, energy, and corporate enterprise markets worldwide. WPCS International Incorporated was founded in 1997 and is headquartered in Exton, Pennsylvania.
Advisors' Opinion:- [By Wallace Witkowski]
Shares of WPCS International Inc. (WPCS) �continued trading heavily after the bell Friday, a day when shares shot up nearly 68% to close at $2.53 after the launch of a trading platform for bitcoins. The day�� trading volume topped more than 1.5 million shares, more than triple its average regular session trading volume. Shares were down 3.2% at $2.45 after-hours at last check.
- [By Ben Eisen]
WPCS (WPCS) launched a beta version of BTX Trader, which is set to be used to gather data and execute trades on five exchanges for bitcoin, a virtual currency that has been highly volatile in recent weeks. Shares in WPCS were up 54% premarket.
- [By Steven Russolillo]
WPCS International(WPCS) surged 21% in the extended session late Thursday after the firm said its BTX Trader unit had launched a platform for bitcoin traders.
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