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What the heck is a JAK inhibitor, and why does it matter? JAK inhibitors are small molecules that transcend the cell membrane and cell communication process to regulate immune response for inflammatory diseases. Given the success of biologics in treating inflammatory diseases and cancers, pharmaceutical companies are racing to develop JAK inhibitors. Could bringing such a drug to market help AbbVie survive Humira's fall over the patent cliff? Get more details in the video below.
In the pharma business, great success comes with a caveat. AbbVie is a perfect example, as investors in the new company are left wondering what the future holds once the company's golden goose, Humira, is cooked. The Fool's brand new premium report on the company answers the high-profile questions that AbbVie investors are asking. Simply click here now to claim your copy today.
Hot Promising Stocks To Watch Right Now: OXiGENE Inc.(OXGN)
OXiGENE, Inc., a clinical-stage biopharmaceutical company, develops novel therapeutics to treat cancer and eye diseases in the United States. It primarily focuses on the development of vascular disrupting agents (VDAs) that disable and destroy abnormal blood vessels, which provide solid tumors a means of growth and survival, as well as associate with visual impairment in various ophthalmological diseases and conditions. The company?s products include ZYBRESTAT, which is in fosbretabulin in anaplastic cancer of the thyroid (FACT) trial?Phase 2/3 study for the treatment of anaplastic thyroid cancer; in fosbretabulin in advanced lung oncology (FALCON) trial?Phase 2 randomized and controlled study to treat non-small cell lung cancer; in Phase 2 Simon two-stage design study for the treatment of platinum-resistant ovarian cancer; and in Phase 2 randomized controlled study to treat platinum-relapsed but platinum sensitive ovarian cancer. Its products also comprise OXi4503 that is in Phase 1 dose-escalation study for the treatment of acute myelogenous leukemia and myelodysplastic syndromes; Phase 1b dose-ranging study to treat solid tumors with hepatic tumor burden; and Phase 1 dose-escalation study for the treatment of refractory solid tumors. In addition, the company?s products consist of ZYBRESTAT, which is in Phase 2 randomized, double-masked, placebo-controlled, single-dose study for proof-of-mechanism study in polypoidal choroidal vasculopathy. OXiGENE has a strategic collaboration agreement with Symphony Capital Partners, L.P. to support the advancement of ZYBRESTAT for oncology and ophthalmology, and OXi4503. The company was founded in 1988 and is headquartered in South San Francisco, California.
Advisors' Opinion:- [By Bryan Murphy]
In the very short run, OXiGENE Inc. (NASDAQ:OXGN) is overbought and probably due for a setback, not unlike the all the other one-day surges and subsequent pullbacks we've seen from the stock since February of this year. Today's pop from OXGN, however, is quite different than all the rest... this time, it's got a legitimate shot at following through on the upside effort. Ergo, this little biopharma name is actually one of the market's best 'trades' right now.
- [By Wallace Witkowski]
Shares of Oxigene Inc. (OXGN) �more than doubled on very heavy volume after the microcap biotech said a mid-stage study of its drug Zybrestat, when used with Roche�� Avastin, showed increased survival in ovarian cancer patients. Oxigene shares rallied 129% to $5.55 , and were one of the most heavily traded issues after hours with more than 4.2 million shares exchanging hands.
Hot Promising Stocks To Watch Right Now: SunPower Corp (SPWR)
SunPower Corporation, incorporated in April 1985, is a vertically integrated solar products and services company that designs, manufactures and delivers solar electric systems worldwide for residential, commercial, and utility-scale power plant customers. The Company operates in two business segments: the Utility and Power Plants (UPP) Segment and the Residential and Commercial (R&C) Segment. The UPP Segment refers to its solar products and systems business, which includes power plant project development and project sales, turn-key engineering, procurement and construction (EPC) services for power plant construction, and power plant operations and maintenance (O&M) services. UPP Segment also sells components, including huge volume of sales of solar panels and mounting systems to third parties, sometimes on a multi-year, firm commitment basis. The R&C Segment focuses on solar equipment sales into the residential and small commercial market through its third-party global dealer network, as well as direct sales and EPC and O&M services in the United States and Europe for rooftop and ground-mounted solar power systems for the new homes, commercial and public sectors. In May 2012, K Road Power Holdings, LLC (K Road) and SunPower Corp announced that K Road acquired the 25-megawatt (AC) McHenry Solar Project, which the Company designed. In January 2013, the Company MidAmerican Solar acquired the 579-megawatt Antelope Valley Solar Projects (AVSP), two co-located projects in Kern and Los Angeles Counties in Calif from SunPower.
In January 2012, the Company completed its acquisition of the wholly owned Total SA subsidiary Tenesol SA, a global solar provider. In September 2011, NRG Energy Inc. acquired 250 megawatt California Valley Solar Ranch (CVSR) project from SunPower. In June 2011, the Company introduced SunPower E20 Series Solar Panel (E20) series. The Company�� customers in its UPP Segment include investors, financial institutions, project developers, electric utilities, and independent po! wer producers in the United States, Europe, and Asia. In its R&C Segment, the Company primarily sells its products to commercial and governmental entities, production home builders, and its third-party global dealer network serving residential owners and small commercial building owners.
Solar Cells
The A-300 solar cell is a silicon solar cell with a specified power value of 3.1 watts and a conversion efficiency averaging between 20.0% and 21.5%. The Company�� A-330 solar cell delivers 3.3 watts with a conversion efficiency of up to 22.7%.
Solar Panels
The Company�� SunPower solar panel series include solutions, such as SunPower E18 Series Solar Panel (E18), SunPower E19 Series Solar Panel (E19), and SunPower E20 Series Solar Panel (E20). Available in a 72-cell configuration, the E18 series panel uses its A300 all back-contact solar cells and delivers a total panel conversion of 18.1% to 18.5%. Available in a 72, 96, and 128-cell configuration, the E19 series panel uses its A300 all back-contact solar cells and delivers total panel conversion of 19.3% to 19.7%. Available in a 96-cell configuration, the E20 series panel uses its A-330 all back-contact solar cells and delivers total panel conversion of up to 20.1%.
Inverters
The Company sells a line of SunPower branded inverters. The inverters are manufactured by third parties.
Roof Mounted Products
The roof mounted products include SunPower T-5 Solar Roof Tile System (T-5), SunPower T-10 Commercial Solar Roof Tiles (T-10), PowerGuard Roof System (PowerGuard) and SunTile Roof Integrated System (SunTile). Tilted at a 5-degree angle, the T-5 roof tile is a non-penetrating photovoltaic rooftop product that combines solar panel, frame, and mounting system. The T-5 solar roof tile systems are primarily sold through its R&C Segment.
Tilted at a 10-degree angle, the T-10 commercial solar roof tiles is a non-penetrating panel interlock system! . Dependi! ng on geographical location and local climate conditions, this can allow for the generation of up to 10% more annual energy output than traditional flat roof-mounted systems. The T-10 commercial solar roof tile is primarily sold through its R&C Segment.
PowerGuard is a non-penetrating roof-mounted solar panel that delivers electricity while insulating and protecting the roof membrane from ultraviolet rays and thermal degradation. The PowerGuard roof system is primarily sold through its R&C Segment. SunTile solar shingles are designed to replace multiple types of roof panels, including the common concrete flat, low and high profile S tile and composition shingles. The SunTile roof system is also sold through its R&C Segment.
Ground Mounted Products
The ground mounted products include SunPower T-0 Tracker (T-0) & SunPower T-20 Tracker (T-20), SunPower Oasis Power Plant (SunPower Oasis), SunPower C-7 Tracker (C-7), and Fixed Tilt and SunPower Tracker Systems for Parking Structures. The T-0 and T-20 trackers are single-axis tracking systems that automatically pivot solar panels to track the sun's movement throughout the day. This tracking feature increases the amount of sunlight that is captured and converted into energy by up to 30% over flat or fixed-tilt systems, depending on geographic location and local climate conditions. A single motor and drive mechanism can control 10 to 20 rows, or more than 200 kilo watts of solar panels. The T-0 and T-20 trackers have been installed in a range of geographical markets principally in the United States, Germany, Italy, Portugal, South Korea, and Spain. The T-0 and T-20 trackers are sold through both its UPP and R&C Segments.
The Oasis is a solar power block that scales from 1 mega watts distributed installations to central station power plants. Oasis provides a way to deploy utility-scale solar power systems, streaming the development and construction process while optimizing the use of available land. The SunPow! er Oasis ! is sold through its UPP Segment. The C-7 combines a horizontal single-axis tracker with rows of parabolic mirrors, reflecting light onto linear arrays of its solar cells. The C-7 tracker is sold through its UPP Segment. SunPower has developed designs for solar power systems for parking structures in multiple configurations. These dual-use systems typically incorporate solar panels into the roof of a carport or similar structure to deliver onsite solar power while providing shade and protection. They are suited for parking lots adjacent to facilities. Fixed Tilt and SunPower Tracker Systems for parking structures are sold through both its UPP and R&C Segments.
Other System Offerings
SunPower�� metal roof system is designed for sloped-metal roof buildings, which are used in some winery and warehouse applications. This solar power system is designed for rapid installation. It also offers other architectural products, such as day lighting with translucent solar panels.
Balance of System Components
Balance of system components are components of a solar power system other than the solar panels. It includes SunPower branded inverters, mounting structures, charge controllers, grid interconnection equipment, and other devices depending on the specific requirements of a particular system and project.
The Company competes with Canadian Solar Inc., JA Solar Holdings Co., Kyocera Corporation, Mitsubishi Corporation, Q-Cells AG, Sanyo Corporation, Sharp Corporation, SolarCity Corporation, SolarWorld AG, Sungevity, Inc., SunRun, Inc., Suntech Power Holdings Co. Ltd., Trina Solar Ltd., Yingli Green Energy Holding Co. Ltd., Abengoa Solar S.A., Acconia Energia S.A., AES Solar Energy Ltd., Chevron Energy Solutions, EDF Energy plc, First Solar Inc., NextEra Energy, Inc., OPDE Group, NRG Energy, Inc., Recurrent Energy, Sempra Energy, Skyline Solar, Inc., Solargen Energy, Inc., Solaria Corporation, SolFocus, Inc., SunEdison and Tenaska, Inc.
Advisors' Opinion:- [By Travis Hoium and Matt DiLallo]
Long time Foolish followers know that I have been a believer in SunPower (NASDAQ: SPWR ) since long before the stock became one of the hottest on the market. The company's recent swing into an adjusted profit and guidance of a likely GAAP profit this year have only bolstered that opinion, and the market has responded by sending the stock up fivefold in the past six months.
- [By Travis Hoium]
Over the past few weeks I've had the chance to talk with some of the most influential executives in solar, and while there are considerable aspects of the solar industry they agree on, there's disagreement as to the role solar panels themselves will play in the future of the industry. SunPower's (NASDAQ: SPWR ) CEO, Tom Werner, is convinced that efficiency will be key to costs and energy production in the long term, whereas Clean Power Finance's Nat Kreamer and Sunrun's Edward Fenster both say that efficiency doesn't matter much at all and that the panels themselves are a commodity product.
Best Oil Companies For 2015: Berry Plastics Group Inc (BERY)
Berry Plastics Group, Inc. (Berry), incorporated on November 18, 2005, is a provider of plastic consumer packaging and engineered materials. Berry owns 100% interest of Berry Plastics Corporation. Berry sells its solutions predominantly into end markets, such as food and beverage, healthcare and personal care. The Company operates in three segments: Rigid Packaging, Engineered Materials and Flexible Packaging. As of September 19, 2012, the Company supplied its customers through 82 manufacturing facilities throughout the United States (68 locations) and select international locations (14 locations). In June 2012, the Company acquired 100% interest of Frans Nooren Beheer B.V. and its operating companies (Stopaq). In September 2011, the Company acquired 100% interests of Rexam Closures Kentucky Inc., Rexam Delta Inc., Rexam Closures LLC, Rexam Closure Systems LLC, Rexam de Mexico S. de R.L. de C.V., Rexam Singapore PTE Ltd., Rexam Participacoes Ltda. and Rexam Plasticos do Brasil Ltda. (collectively, Rexam SBC). In August 2011, Berry acquired 100% interest of LINPAC Packaging Filmco, Inc.
Rigid Packaging
The Company�� Rigid Packaging business consists of containers, foodservice items, house wares, closures, over caps, bottles, prescription vials, and tubes. The end uses for these products are consumer-oriented end markets, such as food and beverage, retail mass marketers, healthcare, personal care and household chemical. The Company manufactures a collection of container products. The Company produces 32 ounce or thermoformed polypropylene (PP) drink cups and offers a product line with sizes ranging from 12 to 52 ounces. The Company�� products of house wares market is focused on producing semi-disposable plastic home and party and plastic garden products. The Company produces closures and over caps across several of its product lines, including continuous-thread and child-resistant closures, as well as aerosol over caps. The Company also provides a range of custom closure ! solutions including fitments and plugs for medical applications, cups and spouts for liquid laundry detergent, and dropper bulb assemblies for medical and personal care applications.
The Company competes with Airlite, Letica, Polytainers, Silgan, Aptar Group and Reynolds.
Engineered Materials
Berry�� Engineered Materials business primarily consists of pipeline corrosion protection solutions, specialty tapes and adhesives, polyethylene-based film products, and can liners served to a variety of end markets including oil, water and gas infrastructure, industrial and consumer-oriented end markets. The Company produces anti-corrosion products to infrastructure, rehabilitation and pipeline projects throughout the world. Products include heat-shrinkable coatings, single- and multi-layer sleeves, pipeline coating tapes, anode systems for cathodic protection and epoxy coatings. These products are used in oil, gas and water supply and construction applications.
Berry is the manufacturer of cloth and foil tape products. Other tape products include range of splicing and laminating tapes, flame-retardant tapes, vinyl-coated and carton sealing tapes, electrical, double-faced cloth, masking, mounting, original equipment manufacturer (OEM) medical and specialty tapes. These products are sold under the National, Nashua and Polyken brands in the United States. The Company manufactures and sells a portfolio of PE-based film products to end users in the retail markets. These products are sold under brands, such as Ruffies and Film-Gard. Its products include drop cloths and retail trash bags. The Company manufactures customized PP-based, woven and sewn containers for the transportation and storage of raw materials, such as seeds, titanium dioxide, clay and resin pellets.
The Company offers range of polyvinyl chloride (PVC) meat film and agricultural film. Berry�� products are used primarily to wrap fresh meats, poultry and produce for supermarket applic! ations. I! n addition, the Company offers a line of boxed products for food service and retail sales. Berry sells trash-can liners and food bags for offices, restaurants, schools, hospitals, hotels, municipalities and manufacturing facilities. The Company also sells products under the Big City, Hospi-Tuff, Plas-Tuff, Rhino-X and Steel-Flex brands. The Company produces both hand and machine-wrap stretch films, which are used by end users to wrap products and packages for storage and shipping. It sells stretch film products to distributors and retail and industrial end users under the MaxTech and PalleTech brands.
The Company competes with AEP, Sigma and 3M.
Flexible Packaging
The Company�� Flexible Packaging business consists of barrier, multilayer film products, as well as finished flexible packages, such as printed bags and pouches. Berry manufactures and sells a range of film products ranging from mono layer to coextruded films having up to nine layers, lamination films sold primarily to flexible packaging converters and used for peelable lid stock, stand-up pouches, pillow pouches and other flexible packaging formats. The Company also manufactures barrier films used for cereal, cookie, cracker and dry mix packages that are sold directly to food manufacturers like Kraft and Pepsico. It also manufactures films for industrial applications ranging from lamination film for carpet padding to films used in solar panel construction.
The Company supplies component and packaging films used for personal care applications. Berry is a converter of printed bags, pouches and roll stock. Its manufacturing base includes integrated extrusion that combines with printing, laminating, bagmaking, Innolok and laser-score converting processes. The Company is a supplier of printed film products for the fresh bakery, tortilla and frozen vegetable markets with brands, such as SteamQuick Film, Freshview bags and Billboard. The Company manufactures specialty coated and laminated produ! cts for a! range of packaging applications. Its products are sold under the MarvelGuard and MarvelSeal brands and are sold to converters who transform them into finished goods.
The Company competes with Printpak, Tredegar and Bemis.
Advisors' Opinion:- [By Bryan Murphy]
It's certainly not as big as Berry Plastics Group Inc. (NYSE:BERY). It's not even as big as Tredegar Corporation (NYSE:TG). There's one big way AEP Industries (NASDAQ:AEPI) can certainly compete head-on with BERY and TG right now, however... as an investment opportunity. Thanks to the bullish bump AEPI gave us last week, a long-standing selloff has been revered, and there's a whole lot of ground to make up.
Hot Promising Stocks To Watch Right Now: Federated Investors Inc. (FII)
Federated Investors, Inc. is a publicly owned investment manager. The firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors. Through its subsidiaries, it manages separate client-focused equity, fixed income, and money market mutual funds and separate client-focused equity, fixed income, and balanced portfolios. The firm invests in the public equity and fixed income markets across the globe. It invests in growth and value stocks of small-cap, mid-cap, and large-cap companies. The firm makes its fixed income investments in ultra-short, short-term, and intermediate-term mortgage-backed, U.S. Government, U.S. Corporate, high yield, and municipal securities. It employs a fundamental and a quantitative analysis to make its equity investmen ts. The firm also makes sector-focused equity investments. Federated Investors was founded in 1955 and is based in Pittsburgh, Pennsylvania with an additional office in New York, New York.
Advisors' Opinion:- [By Ben Levisohn]
But there are winners–and they’re any stock that’s helped by higher rates. There are mutual fund companies with big money-market fund businesses, who wouldn’t be forced to run these funds for what is essentially free. Federated Investors (FII), for instance, has jumped 2.1% to $27.99. Life insurance companies, too, are rising because they should be able to earn more on their investments. MetLife (MET), for instance, has risen 1.3% to $53.03.
Hot Promising Stocks To Watch Right Now: Harbinger Group Inc (HRG)
Harbinger Group Inc. (HGI), incorporated on November 3, 2009, is a holding company. The Company's operations are conducted through Spectrum Brands, the Company's subsidiary, which provides branded consumer products, such as batteries, personal care products, small household appliances, pet supplies, and home and garden pest control products, and Fidelity & Guaranty Life Holdings, Inc. (FGL), its wholly owned indirect subsidiary, which provides life insurance and annuity products. In addition, Salus Capital Partners, LLC (Salus), the Company's wholly owned indirect subsidiary, is engaged in the business of providing secured asset-based loans across a range of industries, and Front Street Re Ltd (Front Street), its wholly owned indirect subsidiary provide reinsurance to the specialty insurance sector of fixed, deferred and payout annuities. The Company also own 97.9% of Zap.Com Corporation (Zap.Com), a public shell company, which may seek assets or businesses to acquire or may sell assets and/or liquidate. On November 8, 2012, Spectrum Brands completed acquisition of 56% interest in Shaser Biosciences, Inc.
Spectrum Brands
Spectrum Brands Holdings, Inc. is a global branded consumer products company. As of September 30, 2012, HGI owns approximately 57.4% of Spectrum Brands. Spectrum Brands manufactures and markets alkaline, zinc carbon and hearing aid batteries, herbicides, insecticides and repellents and specialty pet supplies. Spectrum Brands also designs and markets rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care household appliances. In addition, Spectrum Brands designs, markets and distributes a broad range of branded small appliances and personal care products. Spectrum Brands' manufacturing and product development facilities are located in the United States, Europe, Latin America and Asia. Spectrum Brands' rechargeable batteries and chargers, shaving and grooming products, small household applian! ces, personal care products and portable lighting products are manufactured by third-party suppliers, located in Asia.
Spectrum Brands sells products in approximately 140 countries through a range of trade channels, including retailers, wholesalers and distributors, hearing aid professionals, industrial distributors and original equipment manufacturers (OEMs). Spectrum Brands' branded consumer products have positions in six product categories: consumer batteries; small appliances; pet supplies; home and garden control products; electric shaving and grooming products, and electric personal care products. Spectrum Brands competes in six product categories: consumer batteries, small appliances, pet supplies, home and garden control products, electric shaving and grooming, and electric personal care products. Spectrum Brands' range of products include consumer batteries, including alkaline and zinc carbon batteries, rechargeable batteries and chargers and hearing aid batteries, other specialty batteries and portable lighting products; small appliances, including small kitchen appliances and home product appliances; pet supplies, including aquatic equipment and supplies, dog and cat treats, small animal foods, clean up and training aids, health and grooming products and bedding; home and garden control products, including household insect controls, insect repellents and herbicides; electric shaving and grooming devices, and electric and wet personal care and styling devices.
Spectrum Brands markets and sells a range of alkaline batteries to both retail and industrial customers. Spectrum Brands' alkaline batteries are marketed and sold under the Rayovac and VARTA brands. Spectrum Brands also manufactures alkaline batteries for third parties who sell the batteries under their own private labels. Spectrum Brands' zinc carbon batteries are also marketed and sold under the Rayovac and VARTA brands. Spectrum Brands sells its hearing aid batteries through retail trade channels and directl! y to prof! essional audiologists under brand names and private labels, including Beltone, Miracle Ear and Starkey. Spectrum Brands also sells Nickel Metal Hydride (NiMH) rechargeable batteries and a range of battery chargers under the Rayovac and VARTA brands. Spectrum Brands' other specialty battery products include camera batteries, lithium batteries, silver oxide batteries, keyless entry batteries and coin cells for use in watches, cameras, calculators, communications equipment and medical instruments. Spectrum Brands offers a range of battery-powered, portable lighting products, including flashlights and lanterns for both retail and industrial markets. Spectrum Brands sells its portable lighting products under the Rayovac and VARTA brand names, under other brand names and pursuant to licensing arrangements with third parties.
Spectrum Brands markets and sells a range of products in the branded small household appliances category under the George Foreman, Black & Decker, Russell Hobbs, Farberware, Juiceman, Breadman and Toastmaster brands, including grills, bread makers, sandwich makers, kettles, toaster ovens, toasters, blenders, juicers, can openers, coffee grinders, coffeemakers, electric knives, deep fryers, food choppers, food processors, hand mixers, rice cookers and steamers. Spectrum Brands also markets small home product appliances, including hand-held irons, vacuum cleaners, air purifiers, clothes shavers and heaters, primarily under the Black & Decker and Russell Hobbs brands.
In the pet supplies product category Spectrum Brands markets and sells a range of branded pet supplies for fish, dogs, cats, birds and other small domestic animals. Spectrum Brands has a range of consumer and commercial aquatics products, including integrated aquarium kits, standalone tanks and stands, filtration systems, heaters, pumps, and other equipment, fish food and water treatment products. Spectrum Brands' aquatics brands are Tetra, Marineland, Whisper, Jungle and Instant Ocean. Spectrum Brand! s also se! lls a range of specialty pet products, including dog and cat treats, small animal food and treats, clean up and training aid products, health and grooming aids, bedding products and consumable accessories including privacy tents, litter carpets, crystal litter cartridges, charcoal filters, corn-based litter and replaceable waste receptacles. Spectrum Brands' specialty pet brands include FURminator, 8-in-1, Dingo, Firstrax, Nature's Miracle, Wild Harvest and Littermaid.
In the home and garden control products category Spectrum Brands markets and sells home and garden care products, including household insecticides, insect repellent, herbicides, garden and indoor plant foods and plant care treatments. Spectrum Brands offers a range of household insecticides, such as spider, roach and ant killer, flying insect killer, insect foggers, wasp and hornet killer, flea and tick control products and roach and ant baits. Spectrum Brands also manufactures and markets a range of insect repellent products, which provide protection from insects, especially mosquitoes. These products include both personal repellents, such as aerosols, pump sprays and wipes, as well as area repellents, such as yard sprays, citronella candles and torches. Spectrum Brands' brands in the insect control category include Hot Shot, Cutter, Repel, Black Flag and TAT. Spectrum Brands' herbicides brands include Spectracide, Real-Kill and Garden Safe. Spectrum Brands markets and sells a range of electric shaving and grooming products under the Remington brand name, including men's rotary and foil shavers, beard and mustache trimmers, body trimmers and nose and ear trimmers, women's shavers and haircut kits. Spectrum Brands' electric personal care products, marketed and sold under the Remington, Russell Hobbs, Carmen and Andrew Collinge brand names, include hand-held dryers, curling irons, straightening irons, brush irons, hair setters, facial brushes, skin appliances and electric toothbrushes.
FGL
FGL is an i! ndirectly! wholly owned subsidiary of HGI, is a provider of annuity and life insurance products in the United States. Based in Baltimore, Maryland, FGL operates its annuity and life insurance operations in the United States through its subsidiaries FGL Insurance and FGL NY Insurance. FGL's products are annuities, deferred annuities and life insurance products (including fixed indexed universal life), which it sells, as of September 30, 2012, through a network of approximately 200 insurance marketing organizations (IMOs) representing approximately 19,000 independent agents and managing general agents. As of September 30, 2012, FGL had over 713,000 policyholders nationwide and distributes its products throughout the United States.
FGL's deferred annuities include fixed index annuities and fixed rate annuities. Fixed rate annuities include annual reset and multi-year rate guaranteed policies. FGL, through its insurance subsidiaries, issues a range of deferred annuities (fixed indexed and fixed rate annuities) and immediate annuities. Fidelity & Guaranty Life Insurance Company's (FGL Insurance's) fixed indexed annuities allow contract owners the possibility of earning credits based on the performance of a specified market index without risk to principal. The contracts include a provision for a minimum guaranteed surrender value calculated in accordance with applicable law. During the year ended September 30, 2012 (fiscal 2012), approximately 96% of the fixed indexed annuity sales involved premium bonuses. Fixed rate annuities include annual reset and multi-year rate guaranteed policies. Fixed rate annual reset annuities issued by FGL Insurance and Fidelity & Guaranty Life Insurance Company of New York (FGL NY Insurance) have an annual interest rate. FGL Insurance and FGL NY Insurance also sell single premium immediate annuities (SPIAs), which provide a series of periodic payments for a fixed period of time or for the life of the policyholder. FGL Insurance and FGL NY Insurance offer indexed universal lif! e insuran! ce policies. Holders of universal life insurance policies earn returns on their policies which are credited to the policyholder's cash value account.
In addition to services provided by third-party asset managers, FGL outsources the following functions to third-party service providers, including investment accounting and custody, and underwriting administration of life insurance applications. FGL manages its outsourcing partners and integrates their services into its operations. FGL outsources its new business and existing policy administration for fixed indexed annuity and life products to Transaction Applications Group, Inc., a subsidiary at Dell Inc. (Transaction Group). Under this arrangement, Transaction Group manages all of FGL's call center and processing requirements. FGL has partnered with Hooper Holmes, Inc. (Hooper Holmes) to outsource its life insurance underwriting function. FGL, through its subsidiary FGL Insurance, both cedes reinsurance to other insurance companies and assumes reinsurance from other insurance companies. FGL Insurance provides reinsurance as the reinsurer to four non-affiliate insurance companies.
Salus
Salus, an indirectly wholly owned subsidiary of HGI, is a provider of secured asset-based loans to the middle market across a range of industries with financing throughout the capital structure. The Salus platform also serves as an asset manager to certain institutional investors, such as community and regional banks, insurance companies, family offices, private equity funds and hedge funds who may lack the infrastructure and dedicated competency within senior secured lending. Salus provides secured asset-based loans to the middle market. Salus focuses its credit analysis on the value of accounts receivable and inventory (or other assets) and estimates how much liquidity it can provide against those assets. Salus' loans are used across a range of industries for general working capital or seasonal needs, acquisitions or opportunisti! c situati! ons, trade finance, turnarounds, dividend recaps, refinancing and debtor-in-possession financing.
The Company competes with Energizer Holdings, Inc. (Energizer), The Procter & Gamble Company, Matsushita , Energizer and Mag Instrument, Inc., Mars Corporation, The Hartz Mountain Corporation, Central Garden & Pet Company, The Scotts Miracle-Gro Company, Bayer A.G., S.C. Johnson & Son, Inc., Scotts Company, Henkel KGaA, Koninklijke Philips Electronics NV, Jarden Corporation, DeLonghi America, Euro-Pro Operating LLC, Metro Thebe, Inc., d/b/a HWI Breville, NACCO Industries, Inc., SEB S.A., Conair Corporation, Wahl Clipper Corporation and Helen of Troy Limited.
Advisors' Opinion:- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Harbinger Group (NYSE: HRG ) , whose recent revenue and earnings are plotted below.
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