Federal prosecutors are pursuing a potential settlement of their record-settingforeign corruption lawsuit that seeks$1 billion in assets, including future proceeds from the 2013 Hollywood hit movieThe Wolf of Wall Street.
Characterized by federal officials as the largest attempted seizure under anti-kleptocracy laws in U.S.history, the case targets officials who allegedly misappropriated profits from financial dealings of the Malaysian sovereign wealth fund called1MDB. Malaysia Prime Minister Najib Razak, who foundedthe fund, has denied wrongdoing.
According to the Department of Justice, conspirators allegedly misappropriated more than $3.5 billionfrom 1MDBin a money laundering scheme from 2009 through 2013.
Officially, 1MDB was intendedto help Malaysia and its people by issuing debt securities that would fund economic development projects. But federal prosecutors allege that suspected conspirators instead used a network of shell companies to siphon fundsfor purchases of U.S. mansions and luxury condominiums,gambling costsat Las Vegas casinos, purchase of artworkby Vincent Van Gogh and Claude Monetand other personal expenses.
Best Casino Stocks To Own For 2018: Westinghouse Air Brake Technologies Corporation(WAB)
- [By WWW.MONEYSHOW.COM]
Westinghouse Air Brake Technologies Corporation (WAB) scores highly based on my Warren Buffett-based model, which is based on the book Buffettology, and also the Peter Lynch-inspired approach that uses the method outlined by Lynch in One Up on Wall Street.
Best Casino Stocks To Own For 2018: Ubiquiti Networks, Inc.(UBNT)
- [By Steve Symington]
Shares of Ubiquiti Networks Inc.(NASDAQ:UBNT) were down 13.4% as of 1:30 p.m. EST Friday after the networking hardware company released mixed fiscal second-quarter 2017 results.
- [By Lisa Levin]
In trading on Friday, technology shares rose by just 0.2 percent. Meanwhile, top losers in the sector included Ubiquiti Networks Inc (NASDAQ: UBNT), down 14 percent, and Magnachip Semiconductor Corp (NYSE: MX), down 12 percent.
- [By Jim Robertson]
On Monday, small cap Ubiquiti Networks (NASDAQ: UBNT) fell 7.89%after notorious short seller Andrew Left/Citron Research issued a report calling the stock a fraud, but shares were regainingsome of what was lost in early Tuesdaytrading. Ubiquiti Networkseliminates barriers to connectivity for under-networked enterprises, communities and consumers with its leading-edge platforms that connect hundreds of millions of people throughout the world. With over 60 million devices sold worldwide, through a network of over 100 distributors, to customers in more than 180 countries and territories,the Companyhas maintained an industry-leading financial profile by leveraging a unique business model to develop products that combine innovative technology with disruptive price-to-performance characteristics.Growth is supported by the Ubiquiti Community, a global grass-roots community of 4 million entrepreneurial operators and systems integrators who engage in thousands of forums.
- [By Peter Graham]
The Q2 2017 earnings report formid cap network communication platform makerUbiquiti Networks Inc (NASDAQ: UBNT) is scheduled for after the market closes on Thursday (February 9). Ubiquiti Networkshas been in our SmallCap Network Elite Opportunity (SCN EO) portfolio as a M2M growth play with plenty of cash and very little debt. When we added the stock in November 2014, our SCN EO newsletternoted:
- [By Peter Graham]
Mid cap network communication platform makerUbiquiti Networks Inc (NASDAQ: UBNT) reportedfiscal Q4 2017 earnings before the market opened with shares surging 16.56% when the market closed. Revenues increased 23% year-over-year and 4.7% sequentially to $228.6 million, primarily driven by continued strong demand for new product offerings across the Company’s product lines. Enterprise Technology revenues increased 49% year-over-year, primarily driven by continued adoption of the Company’s UniFi product family of access points, switches, gateways and IP cameras.Service Provider Technology revenues increased 5% year-over-year and 10% sequentially, primarily driven by the Company’s airMAX AC and airMAX AC Gen 2 product lines. GAAP Net Income was $60.7 million versus $57.7 million. Total cash and cash equivalents as of June 30, 2017 were $604.2 million versus $533.9 million as of March 31, 2017, representing an increase of over 13%.
Best Casino Stocks To Own For 2018: ResMed Inc.(RMD)
- [By STOCKPICKR]
Medical equipment maker ResMed (RMD) is another name that’s starting to look “toppy” after a bullish start to the year. RMD has more or less kept pace with the S&P 500 in 2014, climbing just over 11% from January to today — but shares started forming a long-term triple-top over the summer, and that setup is getting close to completion this fall.
It’s worth noting that long-term price setups come with equally long term trading implications when they trigger.
The triple-top that RMD is showing is a fairly rare pattern, but the trigger is pretty perfunctory: if shares break down below support at $48, then sellers are in control, and it’s time to unload them. Downside isn’t a foregone conclusion in ResMed, but this setup only gets invalidated if shares can close above their prior highs at $54.