Bank of New York Mellon (NYSE: BK ) reported first-quarter earnings on Wednesday, and while tidings are grim, they're aren't quite as grim as they first appear. Here are three key takeaways for investors.
1. Net-income loss of $266 million
Savvy investors saw this one coming, but it's a shock to see it in black-and-white nonetheless. The bank had previously announced it was going to take a $854 million hit for disallowed foreign-tax credits, courtesy of U.S. Tax Court, but first-quarter 2013 is where the rubber met the road.�
The nearly billion-dollar charge came right off BNY Mellon's bottom line, changing what would have been a $588 million profit into the aforementioned $266 million loss, translating into earnings per common share of -$0.23. The bank plans to appeal the tax court's ruling. �
Best Heal Care Stocks To Buy Right Now: Local.com Corporation(LOCM)
Local.com Corporation operates as an Internet search advertising company that enables businesses and consumers to find each other and connect locally. Its Owned and Operated business unit manages its flagship online property Local.com and a proprietary network of approximately 20,000 local Websites that reach approximately 15 million monthly unique visitors. The company places various display, performance, and subscription advertisement products on its Local.com and proprietary network. Its Network business unit operates a private label local syndication network of approximately 1,000 U.S. regional media Websites; 80,000 third-party local Websites; and its own organic feed of local businesses plus third-party advertising feeds that focus primarily on local consumers to a distribution network of hundreds of Websites. The company?s Sales and Ad Services business unit provides approximately 45,000 direct monthly subscribers with Web hosting or Web listing products. The compan y was formerly known as Interchange Corporation and changed its name to Local.com Corporation in November 2006. Local.com Corporation was founded in 1999 and is headquarters in Irvine, California.
Best Heal Care Stocks To Buy Right Now: Hitachi Ltd. (HIT)
Hitachi, Ltd. manufactures and sells electronic and electrical products primarily in Asia, North America, and Europe. Its Information & Telecommunication Systems segment provides systems integration, outsourcing services, software, disk array subsystems, servers, mainframes, telecommunications equipment, and ATMs. The company?s Power Systems segment offers thermal, nuclear, hydroelectric, and wind power generation systems. Its Social Infrastructure & Industrial Systems segment provides industrial machinery and plants, elevators, escalators, and railway vehicles and systems. The company?s Electronic Systems & Equipment segment offers semiconductor and LCD manufacturing equipment, test and measurement equipment, medical electronics equipment, power tools, and electronic parts manufacturing systems. Its Construction Machinery segment provides hydraulic excavators, wheel loaders, and mining dump trucks. The company?s High Functional Materials & Components segment offers wires and cables, copper products, semiconductor and display-related materials, circuit boards and materials, specialty steels, magnetic materials and components, and casting components and materials. Its Automotive Systems segment provides engine management systems, electric power train systems, drive control systems, and car information systems. Hitachi?s Components & Devices segment offers HDDs, LCDs, information storage media, and batteries. Its Digital Media & Consumer Products segment provides optical disk drives, flat-panel TVs, LCD projectors, mobile phones, room air conditioners, refrigerators, washing machines, and air-conditioning equipment. The company?s Financial Services segment offers leasing services and loan guarantees. Its Others segment provides logistics and property management services. The company serves industrial companies, financial institutions, utilities, governments, and individual customers. Hitachi was founded in 1910 and is headquartered in Tokyo, Ja pan.
Best Medical Companies To Invest In 2014: Emergeo Solutions Worldwide Inc(EMG.V)
Emergeo Solutions Worldwide Inc. develops, integrates, sells, and supports emergency management, environment health and safety, and security software solutions and services in Canada, the United States, the Middle East, and Australia. The company?s product line includes EmerGeo FusionPoint, a Web-based crisis information management system; EmerGeo Mapping software, an open emergency mapping tool that integrates with customer's existing GIS systems, EmerGeo FusionPoint, and Google earth; and Portable EOC. It also offers training, implementation, and integration services. The company was formerly known as EmerGeo Solutions Inc. and changed its name to EmerGeo Solutions Worldwide Inc. in August 2008. EmerGeo Solutions Worldwide Inc. was founded in 2002 and is headquartered in Vancouver, Canada.
Best Heal Care Stocks To Buy Right Now: Mesa Uranium Corp (MSA.V)
Mesa Exploration Corp., an exploration stage company, engages in the identification, acquisition, and exploration of mineral properties in the United States. It primarily explores for uranium, lithium, and potash mineral properties. The company holds interests in various mineral properties located in Utah and Arizona. It primarily holds interests in the Bounty potash project that consist of 104 square miles of potash leases and exploration permits located in the Great Salt Lake Desert of western Utah. The company was formerly known as Mesa Uranium Corp. and changed its name to Mesa Exploration Corp. in March 2011. Mesa Exploration Corp. is headquartered in Vancouver, Canada.