Value investor Richard Snow had a difficult year, similar to a lot of others. But he was buying distressed financials and healthcare stocks. We all know it was still too early. But who can time the bottom? These are his buys and sells during the third quarter.
Richard Snow buys UnitedHealth Group Inc., SunTrust Banks Inc., Wachovia Corp., Humana Inc., SPDR S&P 500, Goldman Sachs Group Inc. The, Evergreen Income Advantage Fund, Fannie Mae, sells Abbott Laboratories, Worthington Industries Inc., WalMart Stores Inc., Verizon Communications Inc., St. Jude Medical Inc., Regions Financial Corp., Merck & Co. Inc., ISHARES RUSSELL 3000 VALUE INDEX FD, IPC Holdings Ltd., Hovnanian Enterprises Inc., Syneron Medical Ltd., Chesapeake Energy Corp., Cambridge Heart Inc., The Bank of New York Mellon Corp., Select Sector SPDRFinancial during the 3-months ended 09/30/2008, according to the most recent filings of his investment company, Snow Capital Management, L.P.. Richard Snow owns 84 stocks with a total value of $3.6 billion. These are the details of the buys and sells.
New Purchases: EAD, FNM, GS, HUM, SPY, STI, UNH, WB,
Added Positions: BAC, CHS, LM, MRO, MS, MTG, NLY, TRV, WFC, XL,
Reduced Positions: AIG, BHE, C, ELON, HMA, MER, NWY, RHB, SDS, TWM,
Sold Out: ABT, BK, CAMH.OB, CHK, ELOS, HOV, IPCR, IWW, MRK, RF, STJ, VZ, WMT, WOR, XLF,
For the details of Richard Snow's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Richard+Snow
Added: Legg Mason Inc. (LM, Financial)
Richard Snow added to his holdings in Legg Mason Inc. by 154.64%. His purchase prices were between $33.27 and $44.6, with an estimated average price of $40.6. The impact to his portfolio due to this purchase was 1.71%. His holdings were 2,677,870 shares as of 09/30/2008.
Legg Mason Inc. is a holding company which through its subsidiaries isprincipally engaged in providing asset management securities brokerageinvestment banking and related financial services to individualsinstitutions corporations and municipalities. Legg Mason Inc. has a market cap of $2.58 billion; its shares were traded at around $19.11 with P/S ratio of 0.63. The dividend yield of Legg Mason Inc. stocks is 6.08%.
Added: Bank of America Corp. (BAC, Financial)
Richard Snow added to his holdings in Bank of America Corp. by 19.56%. His purchase prices were between $21.24 and $37.48, with an estimated average price of $30.3. The impact to his portfolio due to this purchase was 0.71%. His holdings were 4,440,463 shares as of 09/30/2008.
Bank of America Corp. is one of the world's leading financial services companies. Bank of America provides individuals small businesses and commercial corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever wherever and however they choose. Bank of America Corp. has a market cap of $93.48 billion; its shares were traded at around $20.12 with a P/E ratio of 17.82 and P/S ratio of 1.92. The dividend yield of Bank of America Corp. stocks is 12.15%.
Added: Marathon Oil Corp. (MRO, Financial)
Richard Snow added to his holdings in Marathon Oil Corp. by 22.4%. His purchase prices were between $40.83 and $50.97, with an estimated average price of $45. The impact to his portfolio due to this purchase was 0.64%. His holdings were 3,177,059 shares as of 09/30/2008.
Marathon Oil Corporation is an energy company engaged in the worldwide exploration production and transportation of crude oil and natural gas. The company refines markets and transports petroleum products in the United States through Marathon Ashland Petroleum LLC a joint venture company between Marathon and Ashland Inc. Marathon Oil Corp. has a market cap of $20.18 billion; its shares were traded at around $28.02 with a P/E ratio of 4.82 and P/S ratio of 0.26. The dividend yield of Marathon Oil Corp. stocks is 4.07%.
Added: Wells Fargo & Company (WFC, Financial)
Richard Snow added to his holdings in Wells Fargo & Company by 214.2%. His purchase prices were between $22.53 and $39.41, with an estimated average price of $30.1. The impact to his portfolio due to this purchase was 0.14%. His holdings were 188,522 shares as of 09/30/2008.
Wells Fargo & Company is a diversified financial services company providing banking insurance investments mortgage and consumer finance services through stores its Internet site and other distribution channels across North America as well as internationally. (Company Press Release) Wells Fargo & Company has a market cap of $95.5 billion; its shares were traded at around $28.77 with a P/E ratio of 14.17 and P/S ratio of 2.95. The dividend yield of Wells Fargo & Company stocks is 4.4%.
Added: XL Capital Ltd (XL, Financial)
Richard Snow added to his holdings in XL Capital Ltd by 5.07%. His purchase prices were between $16.09 and $20.59, with an estimated average price of $19. The impact to his portfolio due to this purchase was 0.13%. His holdings were 5,613,359 shares as of 09/30/2008.
LX Capital Limited through its subsidiaries provides excess liability insurance coverage to industrial commercial and other enterprises directors and officers of such enterprises professional firms high excess property coverage and the assumption of reinsurance contracts on a worldwide basis. The company's strategy is to be the premier provider of strategic financial risk solutions to specific global markets by applying intellectual and financial capital to assure its customers' economic vitality and enhance their competitive positions. XL Capital Ltd has a market cap of $2.79 billion; its shares were traded at around $7.95 with P/S ratio of 0.33. The dividend yield of XL Capital Ltd stocks is 10.54%.
Added: Annaly Capital Management Inc. (NLY, Financial)
Richard Snow added to his holdings in Annaly Capital Management Inc. by 78.78%. His purchase prices were between $13.52 and $15.61, with an estimated average price of $14.6. The impact to his portfolio due to this purchase was 0.11%. His holdings were 661,500 shares as of 09/30/2008.
Annaly Mortgage Management Inc. specializes in investing in Mortgage-Backed Securities. Its principal business objective is to generate net income for distribution to stockholders from the spread between the interest income on its Mortgage-Backed Securities and the costs of borrowing to finance its acquisition of Mortgage-Backed Securities. The Company has elected to be taxed as a Real Estate Investment Trust and is self-advised and self-managed. Annaly Capital Management Inc. has a market cap of $7.84 billion; its shares were traded at around $13.64 with a P/E ratio of 6.99 and P/S ratio of 6.54. The dividend yield of Annaly Capital Management Inc. stocks is 18.57%.
Added: Chico's FAS Inc. (CHS, Financial)
Richard Snow added to his holdings in Chico's FAS Inc. by 7.43%. His purchase prices were between $4.81 and $7.58, with an estimated average price of $5.7. The impact to his portfolio due to this purchase was 0.1%. His holdings were 9,458,811 shares as of 09/30/2008.
CHICO'S FAS INC. is a specialty retailer of exclusively designed private label casual clothing and related accessories. Each store offers collections of color coordinated tops pants shorts skirts jumpsuits dresses vests jackets outerwear socks and accessories including leather and fabric belts scarves earrings necklaces and bracelets. Chico's FAS Inc. has a market cap of $517.17 million; its shares were traded at around $3.03 with a P/E ratio of 23.07 and P/S ratio of 0.33.
Added: Morgan Stanley (MS, Financial)
Richard Snow added to his holdings in Morgan Stanley by 300%. His purchase prices were between $24.45 and $44.49, with an estimated average price of $36.6. The impact to his portfolio due to this purchase was 0.04%. His holdings were 80,000 shares as of 09/30/2008.
MORGAN STANLEY is a preeminent global financial services firm that maintains leading market positions in each of its three primary businesses: securities; asset management; and credit services. The company combines global strength in investment banking and institutionalsales and trading with strength in providing full-service and on-line brokerage services investment and global asset management services and primarily through its Discover Card brand quality consumer credit products. Morgan Stanley has a market cap of $17.06 billion; its shares were traded at around $15.39 with a P/E ratio of 48.23 and P/S ratio of 0.73. The dividend yield of Morgan Stanley stocks is 6.54%.
Added: The Travelers Companies Inc. (TRV, Financial)
Richard Snow added to his holdings in The Travelers Companies Inc. by 35.49%. His purchase prices were between $42.04 and $50.76, with an estimated average price of $44.3. The impact to his portfolio due to this purchase was 0.04%. His holdings were 118,365 shares as of 09/30/2008.
St. Paul Travelers is a leading provider of commercial property-liability insurance and asset management services. Under the Travelers brand the company is also a leading underwriter of homeowners and auto insurance through independent agents. The Travelers Companies Inc. has a market cap of $23.21 billion; its shares were traded at around $37.7 with a P/E ratio of 7.73 and P/S ratio of 0.87. The dividend yield of The Travelers Companies Inc. stocks is 2.87%.
Added: MGIC Investment Corp. (MTG, Financial)
Richard Snow added to his holdings in MGIC Investment Corp. by 56.4%. His purchase prices were between $4.14 and $10.21, with an estimated average price of $7.3. The impact to his portfolio due to this purchase was 0.02%. His holdings were 234,600 shares as of 09/30/2008.
MGIC Investment Corporation is a holding company which through its wholly owned subsidiary Mortgage Guaranty Insurance Corporation is the leading provider of private mortgage insurance coverage in the United States to the home mortgage lending industry. Private mortgage insurance covers residential first mortgage loans and expands home ownership opportunitiesby enabling people to purchase homes with less than 20% down payments. If the home owner defaults private mortgage insurance reduces and in some instances eliminates the loss to the insured institution. MGIC Investment Corp. has a market cap of $460.25 million; its shares were traded at around $3.99 with P/S ratio of 0.29. The dividend yield of MGIC Investment Corp. stocks is 3.58%.
New Purchase: UnitedHealth Group Inc. (UNH, Financial)
Richard Snow initiated holdings in UnitedHealth Group Inc.. His purchase prices were between $22.16 and $33.01, with an estimated average price of $27.7. The impact to his portfolio due to this purchase was 2.63%. His holdings were 3,744,378 shares as of 09/30/2008.
UnitedHealth Group Inc. offers health care coverage and related services to help people achieve improved health and well-being through all stages of life. The company's products and services reflect a number of core capabilities including medical information management health benefit administration care coordination risk assessment and pricing health benefit design and provider contracting. With these capabilities it is able to provide comprehensive health care management services through organized health systems and insurance products. UnitedHealth Group Inc. has a market cap of $27.52 billion; its shares were traded at around $22.16 with a P/E ratio of 8.20 and P/S ratio of 0.34. The dividend yield of UnitedHealth Group Inc. stocks is 0.13%.
New Purchase: SunTrust Banks Inc. (STI, Financial)
Richard Snow initiated holdings in SunTrust Banks Inc.. His purchase prices were between $30.34 and $59.2, with an estimated average price of $42.2. The impact to his portfolio due to this purchase was 0.52%. His holdings were 417,110 shares as of 09/30/2008.
SunTrust Banks Inc. is a commercial banking organization. The company provides a wide range of services to meet the financial needs of its growing customer base in Alabama Florida Georgia Maryland Tennessee Virginia and the District of Columbia. Its primary businesses include traditional deposit and credit services as well as trust and investment services. (Company Press Release) SunTrust Banks Inc. has a market cap of $13.67 billion; its shares were traded at around $36.98 with a P/E ratio of 11.94 and P/S ratio of 1.89. The dividend yield of SunTrust Banks Inc. stocks is 8.77%.
New Purchase: Wachovia Corp. (WB, Financial)
Richard Snow initiated holdings in Wachovia Corp.. His purchase prices were between $10 and $18.91, with an estimated average price of $15.1. The impact to his portfolio due to this purchase was 0.47%. His holdings were 4,843,266 shares as of 09/30/2008.
Wachovia Corporation is a leading provider of financial services to retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices in East Coast states and Washington D.C. and offers full-service brokerage with offices in 47 states and global services through more than 30 international offices. Wachovia Corp. has a market cap of $11.9 billion; its shares were traded at around $5.38 with P/S ratio of 1.10. The dividend yield of Wachovia Corp. stocks is 3.45%.
New Purchase: Humana Inc. (HUM)
Richard Snow initiated holdings in Humana Inc.. His purchase prices were between $37.27 and $50, with an estimated average price of $44. The impact to his portfolio due to this purchase was 0.16%. His holdings were 140,400 shares as of 09/30/2008.
Humana Inc. is a health services company that facilitates the delivery of health care services through networks of providers to its medical members. The company's products are marketed primarily through health maintenance organizations and preferred provider organizations that encourage or require the use of contracted providers. The company also offers various specialty products to employers including dental group life and workers' compensation and administrative services to those who self-insure their employee health plans. Humana Inc. has a market cap of $6 billion; its shares were traded at around $34.93 with a P/E ratio of 8.43 and P/S ratio of 0.21.
New Purchase: SPDR S&P 500 (SPY)
Richard Snow initiated holdings in SPDR S&P 500. His purchase prices were between $120.85 and $129.42, with an estimated average price of $125.6. The impact to his portfolio due to this purchase was 0.14%. His holdings were 44,530 shares as of 09/30/2008.
Standard and Poor's Depository Reciepts trust is involved in the financial services industry. Their holdings are comprised of the 500 stocks in the S&P 500 Index which is designed to capture the price performance of a large cross-section of the U.S. publicly traded stock market. SPDR S&P 500 has a market cap of $ million; its shares were traded at around $90.81 . The dividend yield of SPDR S&P 500 stocks is 3.18%.
New Purchase: Goldman Sachs Group Inc. The (GS)
Richard Snow initiated holdings in Goldman Sachs Group Inc. The. His purchase prices were between $129.41 and $181.93, with an estimated average price of $163.5. The impact to his portfolio due to this purchase was 0.13%. His holdings were 35,492 shares as of 09/30/2008.
Goldman Sachs is a global investment banking and securities firm providing a full range of investing advisory and financing services worldwide to a substantial and diversified client base which includes corporations financial institutions governments and high net worth individuals. (Company Press Release) Goldman Sachs Group Inc. The has a market cap of $30.76 billion; its shares were traded at around $80.72 with a P/E ratio of 4.67 and P/S ratio of 0.92. The dividend yield of Goldman Sachs Group Inc. The stocks is 1.39%.
New Purchase: Evergreen Income Advantage Fund (EAD)
Richard Snow initiated holdings in Evergreen Income Advantage Fund. His purchase prices were between $8.33 and $9.82, with an estimated average price of $9.5. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 16,480 shares as of 09/30/2008.
Evergreen Income Advantage Fund has a market cap of $437.04 million; its shares were traded at around $6.35 with P/S ratio of 3.53. The dividend yield of Evergreen Income Advantage Fund stocks is 13.6%.
New Purchase: Fannie Mae (FNM)
Richard Snow initiated holdings in Fannie Mae. His purchase prices were between $0.69 and $18.66, with an estimated average price of $8. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 115,500 shares as of 09/30/2008.
Fannie Mae is the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is one of the nation's largest sources of financing for home mortgages. Fannie Mae is working to shrink the nation's homeownership gaps through an American Dream Commitment to increase homeownership rates and serve targeted American families by the end of the decade. (Company Press Release) Fannie Mae has a market cap of $791.66 million; its shares were traded at around $0.71 . The dividend yield of Fannie Mae stocks is 30.18%.
Reduced: American International Group Inc. (AIG)
Richard Snow reduced to his holdings in American International Group Inc. by 99.63%. His sale prices were between $3.15 and $26.97, with an estimated average price of $19.8. The impact to his portfolio due to this sale was less than 0.01%. Richard Snow still held 10,210 shares as of 09/30/2008.
American International Group Inc. world leaders in insurance and financial services is the leading international insurance organization with operations in more than one hundred thirty countries and jurisdictions. AIG companies serve commercial institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition AIG companies are leading providers of retirement services financial services and asset management around the world. American International Group Inc. has a market cap of $5.65 billion; its shares were traded at around $1.87 with P/S ratio of 0.06.
Reduced: Echelon Corp. (ELON)
Richard Snow reduced to his holdings in Echelon Corp. by 36.86%. His sale prices were between $10.2 and $15.31, with an estimated average price of $12.5. The impact to his portfolio due to this sale was -0.03%. Richard Snow still held 300,400 shares as of 09/30/2008.
Echelon Corporation develops markets and supports products and services that allow everyday devices such as light switches washing machines assembly line robots thermostats gas pumps motion sensors air conditioners pumps and valves to be made `smart` and to communicate with one another and across the Internet. Their products and services are based on our LonWorks technology. Their products and services may be used across many industries to network together everyday devices in homes buildings factories and transportation systems. Echelon Corp. has a market cap of $280.04 million; its shares were traded at around $6.99 with P/S ratio of 2.04.
Reduced: Merrill Lynch & Co. Inc. (MER)
Richard Snow reduced to his holdings in Merrill Lynch & Co. Inc. by 97.99%. His sale prices were between $17.05 and $30.71, with an estimated average price of $26.9. The impact to his portfolio due to this sale was -0.04%. Richard Snow still held 50,000 shares as of 09/30/2008.
Merrill Lynch & Co. Inc. is one of the world's leading financial management and advisory companies with offices in numerous countries. The firm is a global underwriter and market maker of debt and equity securities and a strategic advisor to corporations governments institutions and individuals worldwide. (Company Press Release) Merrill Lynch & Co. Inc. has a market cap of $26.8 billion; its shares were traded at around $16.23 . The dividend yield of Merrill Lynch & Co. Inc. stocks is 8.83%.
Reduced: ULTRASHORT RUSSELL2000 PROSHARES (TWM)
Richard Snow reduced to his holdings in ULTRASHORT RUSSELL2000 PROSHARES by 50%. His sale prices were between $60.92 and $84.51, with an estimated average price of $70.7. The impact to his portfolio due to this sale was -0.05%. Richard Snow still held 50,000 shares as of 09/30/2008.
ULTRASHORT RUSSELL2000 PROSHARES has a market cap of $ million; its shares were traded at around $109.6 . The dividend yield of ULTRASHORT RUSSELL2000 PROSHARES stocks is 1%.
Reduced: RehabCare Group Inc. (RHB)
Richard Snow reduced to his holdings in RehabCare Group Inc. by 40.52%. His sale prices were between $15.46 and $20.23, with an estimated average price of $18.6. The impact to his portfolio due to this sale was -0.06%. Richard Snow still held 297,300 shares as of 09/30/2008.
REHABCARE GROUP INC. develops markets and manages comprehensive medicial rehabilitation programs and therapy services in acute-care hospitals skilled nursing units and outpatient facilities. RehabCare Group Inc. has a market cap of $276.06 million; its shares were traded at around $15.55 with a P/E ratio of 14.98 and P/S ratio of 0.39.
Reduced: New York & Company Inc. (NWY)
Richard Snow reduced to his holdings in New York & Company Inc. by 30.61%. His sale prices were between $8.69 and $11.8, with an estimated average price of $10.2. The impact to his portfolio due to this sale was -0.07%. Richard Snow still held 878,848 shares as of 09/30/2008.
New York & Company Inc. is a leading specialty retailer of fashion-oriented moderately-priced women's apparel. The Company's proprietary branded New York & Company merchandise is sold exclusively through its national network of retail stores. New York & Company Inc. has a market cap of $149.16 million; its shares were traded at around $2.64 with a P/E ratio of 23.94 and P/S ratio of 0.13.
Reduced: Citigroup Inc. (C)
Richard Snow reduced to his holdings in Citigroup Inc. by 93.09%. His sale prices were between $15.72 and $20.39, with an estimated average price of $18.4. The impact to his portfolio due to this sale was -0.14%. Richard Snow still held 255,970 shares as of 09/30/2008.
Citigroup Inc. the leading global financial services company has some two hundred million customer accounts and does business in more than hundred countries providing consumers corporations governments and institutions with a broad range of financial products and services including consumer banking and credit corporate and investment banking securities brokerage and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank CitiFinancial Primerica Smith Barney and Banamex. Citigroup Inc. has a market cap of $64.96 billion; its shares were traded at around $11.52 with P/S ratio of 2.29. The dividend yield of Citigroup Inc. stocks is 10.54%.
Reduced: ULTRASHORT S&P500 PROSHARES (SDS)
Richard Snow reduced to his holdings in ULTRASHORT S&P500 PROSHARES by 34.29%. His sale prices were between $60.29 and $67.39, with an estimated average price of $63.9. The impact to his portfolio due to this sale was -0.15%. Richard Snow still held 230,000 shares as of 09/30/2008.
ULTRASHORT S&P500 PROSHARES has a market cap of $ million; its shares were traded at around $94.6 . The dividend yield of ULTRASHORT S&P500 PROSHARES stocks is 0.9%.
Reduced: Benchmark Electronics Inc. (BHE)
Richard Snow reduced to his holdings in Benchmark Electronics Inc. by 28.07%. His sale prices were between $14.31 and $17.59, with an estimated average price of $16.1. The impact to his portfolio due to this sale was -0.38%. Richard Snow still held 3,456,698 shares as of 09/30/2008.
Benchmark Electronics Inc. provides contract electronics manufacturing and design services to original equipment manufacturers in select industries including medical devices communications equipment industrial and business computers testing instrumentation and industrialcontrols. They specializes in manufacturing high quality technologically complex printed circuit board assemblies with computer-automated equipment using surface mount and pin-through-hole interconnection technologies for customers requiring low to medium volume production runs. Benchmark Electronics Inc. has a market cap of $784.60 million; its shares were traded at around $11.7 with a P/E ratio of 9.09 and P/S ratio of 0.28.
Reduced: Health Management Associates Inc. (HMA)
Richard Snow reduced to his holdings in Health Management Associates Inc. by 55.96%. His sale prices were between $4.4 and $6.29, with an estimated average price of $5.7. The impact to his portfolio due to this sale was -0.49%. Richard Snow still held 7,615,813 shares as of 09/30/2008.
Health Management Associates Inc. provides a broad range of general acute care health services in non-urban communities. The Company pursues a business strategy of efficiently and profitably operating its existing base of facilities and selectively acquiring additional 100 to 300 bed acute care hospitals located in non-urban communities in market areas of 40000 to 300000 people in the southeastern and southwestern UnitedStates. Health Management Associates Inc. has a market cap of $518.20 million; its shares were traded at around $2.28 with a P/E ratio of 3.16 and P/S ratio of 0.12.
Sold Out: Verizon Communications Inc. (VZ)
Richard Snow sold out his holdings in Verizon Communications Inc.. His sale prices were between $31.67 and $34.89, with an estimated average price of $33.9. The impact to his portfolio due to this sale was less than 0.01%.
Verizon Communications formed by the merger of Bell Atlantic and GTE is one of the world's leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the world's largest provider of print and on-line directory information. Verizon Communications Inc. has a market cap of $85.36 billion; its shares were traded at around $29.25 with a P/E ratio of 13.73 and P/S ratio of 0.86. The dividend yield of Verizon Communications Inc. stocks is 7.34%.
Sold Out: St. Jude Medical Inc. (STJ)
Richard Snow sold out his holdings in St. Jude Medical Inc.. His sale prices were between $41.24 and $47.97, with an estimated average price of $45. The impact to his portfolio due to this sale was less than 0.01%.
St. Jude Medical Inc. is dedicated to making life better for cardiac neurological and chronic pain patients worldwide through excellence in medical device technology and services. The Company has five major focus areas that include cardiac rhythm management atrial fibrillation cardiac surgery cardiology and neuromodulation. St. Jude Medical Inc. has a market cap of $12.33 billion; its shares were traded at around $34.83 with a P/E ratio of 17.99 and P/S ratio of 2.82.
Sold Out: WalMart Stores Inc. (WMT)
Richard Snow sold out his holdings in WalMart Stores Inc.. His sale prices were between $56.06 and $62.41, with an estimated average price of $58.7. The impact to his portfolio due to this sale was less than 0.01%.
Wal-Mart Stores Inc. is the world's largest retailer. They are engaged in the operation of mass merchandising stores which serve their customers primarily through the operation of three segments which are the Wal-Mart Stores segment the SAM'S Club segment and the International segment. WalMart Stores Inc. has a market cap of $214.2 billion; its shares were traded at around $53.49 with a P/E ratio of 16.20 and P/S ratio of 0.53. The dividend yield of WalMart Stores Inc. stocks is 1.85%.
Sold Out: Worthington Industries Inc. (WOR)
Richard Snow sold out his holdings in Worthington Industries Inc.. His sale prices were between $16.29 and $19.52, with an estimated average price of $17.6. The impact to his portfolio due to this sale was less than 0.01%.
Worthington Industries is one of the leading diversified metal processing companies. The company is one of North America's premier value-added steel processors and one of the leaders in manufactured metal products such as automotive aftermarket stampings pressure cylinders metal framing metal ceiling grid systems and laser welded blanks. (Company Press Release) Worthington Industries Inc. has a market cap of $901.72 million; its shares were traded at around $11.47 with a P/E ratio of 5.92 and P/S ratio of 0.28. The dividend yield of Worthington Industries Inc. stocks is 6.24%.
Sold Out: Abbott Laboratories (ABT)
Richard Snow sold out his holdings in Abbott Laboratories. His sale prices were between $54.02 and $59.19, with an estimated average price of $57.3. The impact to his portfolio due to this sale was less than 0.01%.
Abbott Laboratories is a global broad-based health care company devoted to discovering new medicines new technologies and new ways to manage health. Abbott products span the continuum of care from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Abbott comprehensive line of products encircles life itself addressing important health needs from infancy to the golden years. Abbott Laboratories has a market cap of $85.8 billion; its shares were traded at around $53.74 with a P/E ratio of 18.98 and P/S ratio of 2.90. The dividend yield of Abbott Laboratories stocks is 2.65%.
Sold Out: The Bank of New York Mellon Corp. (BK)
Richard Snow sold out his holdings in The Bank of New York Mellon Corp.. His sale prices were between $34.13 and $39.65, with an estimated average price of $35.9. The impact to his portfolio due to this sale was less than 0.01%.
Bank of New York is a bank holding company and one of the world's larger financial institutions. They provide comprehensive financial services to individuals small and mid-sized businesses multinational corporations financial institutions governments and public agencies worldwide. Their products and services are organized into five business lines: Securities Servicing and Global Payment Services Private Client Services and Asset Management Corporate Banking Global Markets and Retail Banking. The Bank of New York Mellon Corp. has a market cap of $34.54 billion; its shares were traded at around $29.91 with a P/E ratio of 18.45 and P/S ratio of 2.37. The dividend yield of The Bank of New York Mellon Corp. stocks is 3.45%.
Sold Out: Cambridge Heart Inc. (CAMH.OB)
Richard Snow sold out his holdings in Cambridge Heart Inc.. His sale prices were between $0.12 and $0.49, with an estimated average price of $0.3. The impact to his portfolio due to this sale was less than 0.01%.
Cambridge Heart Inc. has a market cap of $14.24 million; its shares were traded at around $0 with P/S ratio of 1.67.
Sold Out: Chesapeake Energy Corp. (CHK)
Richard Snow sold out his holdings in Chesapeake Energy Corp.. His sale prices were between $37.86 and $66.65, with an estimated average price of $48.6. The impact to his portfolio due to this sale was less than 0.01%.
Chesapeake Energy Corp. is an independent oil and gas company engaged in the development exploration acquisition and production of onshore natural gas and oil reserves. Chesapeake owns interests in producing oil and gas wells concentrated in three primary operating areas: the Mid-Continent region of Oklahoma western Arkansas southwestern Kansas and the Texas Panhandle; the Gulf Coast region consisting primarily of the Austin Chalk Trend in Texas and Louisiana and the Tuscaloosa Trend in Louisiana; and the Helmet area of northeastern British Columbia. Chesapeake Energy Corp. has a market cap of $13.59 billion; its shares were traded at around $22.53 with a P/E ratio of 7.14 and P/S ratio of 1.22. The dividend yield of Chesapeake Energy Corp. stocks is 1.47%.
Sold Out: Syneron Medical Ltd. (ELOS)
Richard Snow sold out his holdings in Syneron Medical Ltd.. His sale prices were between $13.63 and $16.51, with an estimated average price of $15.1. The impact to his portfolio due to this sale was less than 0.01%.
Syneron Medical Ltd. manufactures and distributes medical aesthetic devices that are powered by the proprietary patented ELOS combined-energy technology of Bi-Polar Radio Frequency and Light. The Company's innovative ELOS technology provides the foundation for highly effective safe and cost-effective systems that enable physicians to provide advanced solutions for a broad range of medical-aesthetic applications. Syneron Medical Ltd. has a market cap of $245.82 million; its shares were traded at around $8.9 with a P/E ratio of 7.85 and P/S ratio of 1.70.
Sold Out: Hovnanian Enterprises Inc. (HOV)
Richard Snow sold out his holdings in Hovnanian Enterprises Inc.. His sale prices were between $4.81 and $9.05, with an estimated average price of $7. The impact to his portfolio due to this sale was less than 0.01%.
HOVNANIAN ENT. primarily designs constructs and markets multi-family attached condominium apartments and townhouses and single family detached homes in planned residential developments in its Northeast Region (comprised primarily of ersey and eastern Pennsylvania) in southeastern Florida in North Carolina in Metro Washington D. C. (northern Virginia) and in southwestern California. The Company recently began housing operations in Poland. The Company markets its homes to first time buyers and to first and second time move-up buyers and concentrates on the moderately priced segment of th Hovnanian Enterprises Inc. has a market cap of $306.98 million; its shares were traded at around $3.99 with P/S ratio of 0.08.
Sold Out: Regions Financial Corp. (RF)
Richard Snow sold out his holdings in Regions Financial Corp.. His sale prices were between $8.41 and $19.8, with an estimated average price of $10.7. The impact to his portfolio due to this sale was less than 0.01%.
Regions Financial Corporation is a regional bank holding company and hasbanking-related subsidiaries engaged in mortgage banking credit life insurance leasing and securities brokerage activities with offices in various Southeastern states. Through its subsidiaries Regions offers a broad range of banking and banking-related services. Regions Financial Corp. has a market cap of $7.58 billion; its shares were traded at around $10.63 with a P/E ratio of 11.00 and P/S ratio of 1.28. The dividend yield of Regions Financial Corp. stocks is 4.47%.
Sold Out: Merck & Co. Inc. (MRK)
Richard Snow sold out his holdings in Merck & Co. Inc.. His sale prices were between $31.84 and $38.03, with an estimated average price of $34.7. The impact to his portfolio due to this sale was less than 0.01%.
Merck & Co. Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891 Merck discovers develops manufactures and markets vaccines and medicines to address unmet medical needs. The company devotes extensive efforts to increase access to medicines through far-reaching programs that not only donate Merck medicines but help deliver them to the people who need them. Merck also publishes unbiased health information as a not-for-profit service. Merck & Co. Inc. has a market cap of $61.16 billion; its shares were traded at around $27.86 with a P/E ratio of 13.85 and P/S ratio of 2.45. The dividend yield of Merck & Co. Inc. stocks is 5.56%.
Sold Out: IPC Holdings Ltd. (IPCR)
Richard Snow sold out his holdings in IPC Holdings Ltd.. His sale prices were between $26.81 and $32.77, with an estimated average price of $30.6. The impact to his portfolio due to this sale was less than 0.01%.
IPC HLDGS LTD through its wholly-owned subsidiary IPCRe Limited provides property catastrophe reinsurance and to a limited extent marine aviation property-per-risk excess and other short-tail property reinsurance on a worldwide basis. IPC has a strong capital position and well established market presence within the property catastrophe reinsurance market. IPC Holdings Ltd. has a market cap of $1.2 billion; its shares were traded at around $24.6 with a P/E ratio of 7.06 and P/S ratio of 3.44. The dividend yield of IPC Holdings Ltd. stocks is 3.72%.
Sold Out: ISHARES RUSSELL 3000 VALUE INDEX FD (IWW)
Richard Snow sold out his holdings in ISHARES RUSSELL 3000 VALUE INDEX FD. His sale prices were between $85.37 and $90.92, with an estimated average price of $88.7. The impact to his portfolio due to this sale was less than 0.01%.
ISHARES RUSSELL 3000 VALUE INDEX FD has a market cap of $ million; its shares were traded at around $64.56 . The dividend yield of ISHARES RUSSELL 3000 VALUE INDEX FD stocks is 2.7%.
Sold Out: Select Sector SPDRFinancial (XLF)
Richard Snow sold out his holdings in Select Sector SPDRFinancial. His sale prices were between $18.5 and $22.38, with an estimated average price of $20.9. The impact to his portfolio due to this sale was less than 0.01%.
Select Sector SPDRFinancial has a market cap of $ million; its shares were traded at around $14.03 . The dividend yield of Select Sector SPDRFinancial stocks is 3.8%.
Richard Snow buys UnitedHealth Group Inc., SunTrust Banks Inc., Wachovia Corp., Humana Inc., SPDR S&P 500, Goldman Sachs Group Inc. The, Evergreen Income Advantage Fund, Fannie Mae, sells Abbott Laboratories, Worthington Industries Inc., WalMart Stores Inc., Verizon Communications Inc., St. Jude Medical Inc., Regions Financial Corp., Merck & Co. Inc., ISHARES RUSSELL 3000 VALUE INDEX FD, IPC Holdings Ltd., Hovnanian Enterprises Inc., Syneron Medical Ltd., Chesapeake Energy Corp., Cambridge Heart Inc., The Bank of New York Mellon Corp., Select Sector SPDRFinancial during the 3-months ended 09/30/2008, according to the most recent filings of his investment company, Snow Capital Management, L.P.. Richard Snow owns 84 stocks with a total value of $3.6 billion. These are the details of the buys and sells.
New Purchases: EAD, FNM, GS, HUM, SPY, STI, UNH, WB,
Added Positions: BAC, CHS, LM, MRO, MS, MTG, NLY, TRV, WFC, XL,
Reduced Positions: AIG, BHE, C, ELON, HMA, MER, NWY, RHB, SDS, TWM,
Sold Out: ABT, BK, CAMH.OB, CHK, ELOS, HOV, IPCR, IWW, MRK, RF, STJ, VZ, WMT, WOR, XLF,
For the details of Richard Snow's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Richard+Snow
Added: Legg Mason Inc. (LM, Financial)
Richard Snow added to his holdings in Legg Mason Inc. by 154.64%. His purchase prices were between $33.27 and $44.6, with an estimated average price of $40.6. The impact to his portfolio due to this purchase was 1.71%. His holdings were 2,677,870 shares as of 09/30/2008.
Legg Mason Inc. is a holding company which through its subsidiaries isprincipally engaged in providing asset management securities brokerageinvestment banking and related financial services to individualsinstitutions corporations and municipalities. Legg Mason Inc. has a market cap of $2.58 billion; its shares were traded at around $19.11 with P/S ratio of 0.63. The dividend yield of Legg Mason Inc. stocks is 6.08%.
Added: Bank of America Corp. (BAC, Financial)
Richard Snow added to his holdings in Bank of America Corp. by 19.56%. His purchase prices were between $21.24 and $37.48, with an estimated average price of $30.3. The impact to his portfolio due to this purchase was 0.71%. His holdings were 4,440,463 shares as of 09/30/2008.
Bank of America Corp. is one of the world's leading financial services companies. Bank of America provides individuals small businesses and commercial corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever wherever and however they choose. Bank of America Corp. has a market cap of $93.48 billion; its shares were traded at around $20.12 with a P/E ratio of 17.82 and P/S ratio of 1.92. The dividend yield of Bank of America Corp. stocks is 12.15%.
Added: Marathon Oil Corp. (MRO, Financial)
Richard Snow added to his holdings in Marathon Oil Corp. by 22.4%. His purchase prices were between $40.83 and $50.97, with an estimated average price of $45. The impact to his portfolio due to this purchase was 0.64%. His holdings were 3,177,059 shares as of 09/30/2008.
Marathon Oil Corporation is an energy company engaged in the worldwide exploration production and transportation of crude oil and natural gas. The company refines markets and transports petroleum products in the United States through Marathon Ashland Petroleum LLC a joint venture company between Marathon and Ashland Inc. Marathon Oil Corp. has a market cap of $20.18 billion; its shares were traded at around $28.02 with a P/E ratio of 4.82 and P/S ratio of 0.26. The dividend yield of Marathon Oil Corp. stocks is 4.07%.
Added: Wells Fargo & Company (WFC, Financial)
Richard Snow added to his holdings in Wells Fargo & Company by 214.2%. His purchase prices were between $22.53 and $39.41, with an estimated average price of $30.1. The impact to his portfolio due to this purchase was 0.14%. His holdings were 188,522 shares as of 09/30/2008.
Wells Fargo & Company is a diversified financial services company providing banking insurance investments mortgage and consumer finance services through stores its Internet site and other distribution channels across North America as well as internationally. (Company Press Release) Wells Fargo & Company has a market cap of $95.5 billion; its shares were traded at around $28.77 with a P/E ratio of 14.17 and P/S ratio of 2.95. The dividend yield of Wells Fargo & Company stocks is 4.4%.
Added: XL Capital Ltd (XL, Financial)
Richard Snow added to his holdings in XL Capital Ltd by 5.07%. His purchase prices were between $16.09 and $20.59, with an estimated average price of $19. The impact to his portfolio due to this purchase was 0.13%. His holdings were 5,613,359 shares as of 09/30/2008.
LX Capital Limited through its subsidiaries provides excess liability insurance coverage to industrial commercial and other enterprises directors and officers of such enterprises professional firms high excess property coverage and the assumption of reinsurance contracts on a worldwide basis. The company's strategy is to be the premier provider of strategic financial risk solutions to specific global markets by applying intellectual and financial capital to assure its customers' economic vitality and enhance their competitive positions. XL Capital Ltd has a market cap of $2.79 billion; its shares were traded at around $7.95 with P/S ratio of 0.33. The dividend yield of XL Capital Ltd stocks is 10.54%.
Added: Annaly Capital Management Inc. (NLY, Financial)
Richard Snow added to his holdings in Annaly Capital Management Inc. by 78.78%. His purchase prices were between $13.52 and $15.61, with an estimated average price of $14.6. The impact to his portfolio due to this purchase was 0.11%. His holdings were 661,500 shares as of 09/30/2008.
Annaly Mortgage Management Inc. specializes in investing in Mortgage-Backed Securities. Its principal business objective is to generate net income for distribution to stockholders from the spread between the interest income on its Mortgage-Backed Securities and the costs of borrowing to finance its acquisition of Mortgage-Backed Securities. The Company has elected to be taxed as a Real Estate Investment Trust and is self-advised and self-managed. Annaly Capital Management Inc. has a market cap of $7.84 billion; its shares were traded at around $13.64 with a P/E ratio of 6.99 and P/S ratio of 6.54. The dividend yield of Annaly Capital Management Inc. stocks is 18.57%.
Added: Chico's FAS Inc. (CHS, Financial)
Richard Snow added to his holdings in Chico's FAS Inc. by 7.43%. His purchase prices were between $4.81 and $7.58, with an estimated average price of $5.7. The impact to his portfolio due to this purchase was 0.1%. His holdings were 9,458,811 shares as of 09/30/2008.
CHICO'S FAS INC. is a specialty retailer of exclusively designed private label casual clothing and related accessories. Each store offers collections of color coordinated tops pants shorts skirts jumpsuits dresses vests jackets outerwear socks and accessories including leather and fabric belts scarves earrings necklaces and bracelets. Chico's FAS Inc. has a market cap of $517.17 million; its shares were traded at around $3.03 with a P/E ratio of 23.07 and P/S ratio of 0.33.
Added: Morgan Stanley (MS, Financial)
Richard Snow added to his holdings in Morgan Stanley by 300%. His purchase prices were between $24.45 and $44.49, with an estimated average price of $36.6. The impact to his portfolio due to this purchase was 0.04%. His holdings were 80,000 shares as of 09/30/2008.
MORGAN STANLEY is a preeminent global financial services firm that maintains leading market positions in each of its three primary businesses: securities; asset management; and credit services. The company combines global strength in investment banking and institutionalsales and trading with strength in providing full-service and on-line brokerage services investment and global asset management services and primarily through its Discover Card brand quality consumer credit products. Morgan Stanley has a market cap of $17.06 billion; its shares were traded at around $15.39 with a P/E ratio of 48.23 and P/S ratio of 0.73. The dividend yield of Morgan Stanley stocks is 6.54%.
Added: The Travelers Companies Inc. (TRV, Financial)
Richard Snow added to his holdings in The Travelers Companies Inc. by 35.49%. His purchase prices were between $42.04 and $50.76, with an estimated average price of $44.3. The impact to his portfolio due to this purchase was 0.04%. His holdings were 118,365 shares as of 09/30/2008.
St. Paul Travelers is a leading provider of commercial property-liability insurance and asset management services. Under the Travelers brand the company is also a leading underwriter of homeowners and auto insurance through independent agents. The Travelers Companies Inc. has a market cap of $23.21 billion; its shares were traded at around $37.7 with a P/E ratio of 7.73 and P/S ratio of 0.87. The dividend yield of The Travelers Companies Inc. stocks is 2.87%.
Added: MGIC Investment Corp. (MTG, Financial)
Richard Snow added to his holdings in MGIC Investment Corp. by 56.4%. His purchase prices were between $4.14 and $10.21, with an estimated average price of $7.3. The impact to his portfolio due to this purchase was 0.02%. His holdings were 234,600 shares as of 09/30/2008.
MGIC Investment Corporation is a holding company which through its wholly owned subsidiary Mortgage Guaranty Insurance Corporation is the leading provider of private mortgage insurance coverage in the United States to the home mortgage lending industry. Private mortgage insurance covers residential first mortgage loans and expands home ownership opportunitiesby enabling people to purchase homes with less than 20% down payments. If the home owner defaults private mortgage insurance reduces and in some instances eliminates the loss to the insured institution. MGIC Investment Corp. has a market cap of $460.25 million; its shares were traded at around $3.99 with P/S ratio of 0.29. The dividend yield of MGIC Investment Corp. stocks is 3.58%.
New Purchase: UnitedHealth Group Inc. (UNH, Financial)
Richard Snow initiated holdings in UnitedHealth Group Inc.. His purchase prices were between $22.16 and $33.01, with an estimated average price of $27.7. The impact to his portfolio due to this purchase was 2.63%. His holdings were 3,744,378 shares as of 09/30/2008.
UnitedHealth Group Inc. offers health care coverage and related services to help people achieve improved health and well-being through all stages of life. The company's products and services reflect a number of core capabilities including medical information management health benefit administration care coordination risk assessment and pricing health benefit design and provider contracting. With these capabilities it is able to provide comprehensive health care management services through organized health systems and insurance products. UnitedHealth Group Inc. has a market cap of $27.52 billion; its shares were traded at around $22.16 with a P/E ratio of 8.20 and P/S ratio of 0.34. The dividend yield of UnitedHealth Group Inc. stocks is 0.13%.
New Purchase: SunTrust Banks Inc. (STI, Financial)
Richard Snow initiated holdings in SunTrust Banks Inc.. His purchase prices were between $30.34 and $59.2, with an estimated average price of $42.2. The impact to his portfolio due to this purchase was 0.52%. His holdings were 417,110 shares as of 09/30/2008.
SunTrust Banks Inc. is a commercial banking organization. The company provides a wide range of services to meet the financial needs of its growing customer base in Alabama Florida Georgia Maryland Tennessee Virginia and the District of Columbia. Its primary businesses include traditional deposit and credit services as well as trust and investment services. (Company Press Release) SunTrust Banks Inc. has a market cap of $13.67 billion; its shares were traded at around $36.98 with a P/E ratio of 11.94 and P/S ratio of 1.89. The dividend yield of SunTrust Banks Inc. stocks is 8.77%.
New Purchase: Wachovia Corp. (WB, Financial)
Richard Snow initiated holdings in Wachovia Corp.. His purchase prices were between $10 and $18.91, with an estimated average price of $15.1. The impact to his portfolio due to this purchase was 0.47%. His holdings were 4,843,266 shares as of 09/30/2008.
Wachovia Corporation is a leading provider of financial services to retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices in East Coast states and Washington D.C. and offers full-service brokerage with offices in 47 states and global services through more than 30 international offices. Wachovia Corp. has a market cap of $11.9 billion; its shares were traded at around $5.38 with P/S ratio of 1.10. The dividend yield of Wachovia Corp. stocks is 3.45%.
New Purchase: Humana Inc. (HUM)
Richard Snow initiated holdings in Humana Inc.. His purchase prices were between $37.27 and $50, with an estimated average price of $44. The impact to his portfolio due to this purchase was 0.16%. His holdings were 140,400 shares as of 09/30/2008.
Humana Inc. is a health services company that facilitates the delivery of health care services through networks of providers to its medical members. The company's products are marketed primarily through health maintenance organizations and preferred provider organizations that encourage or require the use of contracted providers. The company also offers various specialty products to employers including dental group life and workers' compensation and administrative services to those who self-insure their employee health plans. Humana Inc. has a market cap of $6 billion; its shares were traded at around $34.93 with a P/E ratio of 8.43 and P/S ratio of 0.21.
New Purchase: SPDR S&P 500 (SPY)
Richard Snow initiated holdings in SPDR S&P 500. His purchase prices were between $120.85 and $129.42, with an estimated average price of $125.6. The impact to his portfolio due to this purchase was 0.14%. His holdings were 44,530 shares as of 09/30/2008.
Standard and Poor's Depository Reciepts trust is involved in the financial services industry. Their holdings are comprised of the 500 stocks in the S&P 500 Index which is designed to capture the price performance of a large cross-section of the U.S. publicly traded stock market. SPDR S&P 500 has a market cap of $ million; its shares were traded at around $90.81 . The dividend yield of SPDR S&P 500 stocks is 3.18%.
New Purchase: Goldman Sachs Group Inc. The (GS)
Richard Snow initiated holdings in Goldman Sachs Group Inc. The. His purchase prices were between $129.41 and $181.93, with an estimated average price of $163.5. The impact to his portfolio due to this purchase was 0.13%. His holdings were 35,492 shares as of 09/30/2008.
Goldman Sachs is a global investment banking and securities firm providing a full range of investing advisory and financing services worldwide to a substantial and diversified client base which includes corporations financial institutions governments and high net worth individuals. (Company Press Release) Goldman Sachs Group Inc. The has a market cap of $30.76 billion; its shares were traded at around $80.72 with a P/E ratio of 4.67 and P/S ratio of 0.92. The dividend yield of Goldman Sachs Group Inc. The stocks is 1.39%.
New Purchase: Evergreen Income Advantage Fund (EAD)
Richard Snow initiated holdings in Evergreen Income Advantage Fund. His purchase prices were between $8.33 and $9.82, with an estimated average price of $9.5. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 16,480 shares as of 09/30/2008.
Evergreen Income Advantage Fund has a market cap of $437.04 million; its shares were traded at around $6.35 with P/S ratio of 3.53. The dividend yield of Evergreen Income Advantage Fund stocks is 13.6%.
New Purchase: Fannie Mae (FNM)
Richard Snow initiated holdings in Fannie Mae. His purchase prices were between $0.69 and $18.66, with an estimated average price of $8. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 115,500 shares as of 09/30/2008.
Fannie Mae is the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is one of the nation's largest sources of financing for home mortgages. Fannie Mae is working to shrink the nation's homeownership gaps through an American Dream Commitment to increase homeownership rates and serve targeted American families by the end of the decade. (Company Press Release) Fannie Mae has a market cap of $791.66 million; its shares were traded at around $0.71 . The dividend yield of Fannie Mae stocks is 30.18%.
Reduced: American International Group Inc. (AIG)
Richard Snow reduced to his holdings in American International Group Inc. by 99.63%. His sale prices were between $3.15 and $26.97, with an estimated average price of $19.8. The impact to his portfolio due to this sale was less than 0.01%. Richard Snow still held 10,210 shares as of 09/30/2008.
American International Group Inc. world leaders in insurance and financial services is the leading international insurance organization with operations in more than one hundred thirty countries and jurisdictions. AIG companies serve commercial institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition AIG companies are leading providers of retirement services financial services and asset management around the world. American International Group Inc. has a market cap of $5.65 billion; its shares were traded at around $1.87 with P/S ratio of 0.06.
Reduced: Echelon Corp. (ELON)
Richard Snow reduced to his holdings in Echelon Corp. by 36.86%. His sale prices were between $10.2 and $15.31, with an estimated average price of $12.5. The impact to his portfolio due to this sale was -0.03%. Richard Snow still held 300,400 shares as of 09/30/2008.
Echelon Corporation develops markets and supports products and services that allow everyday devices such as light switches washing machines assembly line robots thermostats gas pumps motion sensors air conditioners pumps and valves to be made `smart` and to communicate with one another and across the Internet. Their products and services are based on our LonWorks technology. Their products and services may be used across many industries to network together everyday devices in homes buildings factories and transportation systems. Echelon Corp. has a market cap of $280.04 million; its shares were traded at around $6.99 with P/S ratio of 2.04.
Reduced: Merrill Lynch & Co. Inc. (MER)
Richard Snow reduced to his holdings in Merrill Lynch & Co. Inc. by 97.99%. His sale prices were between $17.05 and $30.71, with an estimated average price of $26.9. The impact to his portfolio due to this sale was -0.04%. Richard Snow still held 50,000 shares as of 09/30/2008.
Merrill Lynch & Co. Inc. is one of the world's leading financial management and advisory companies with offices in numerous countries. The firm is a global underwriter and market maker of debt and equity securities and a strategic advisor to corporations governments institutions and individuals worldwide. (Company Press Release) Merrill Lynch & Co. Inc. has a market cap of $26.8 billion; its shares were traded at around $16.23 . The dividend yield of Merrill Lynch & Co. Inc. stocks is 8.83%.
Reduced: ULTRASHORT RUSSELL2000 PROSHARES (TWM)
Richard Snow reduced to his holdings in ULTRASHORT RUSSELL2000 PROSHARES by 50%. His sale prices were between $60.92 and $84.51, with an estimated average price of $70.7. The impact to his portfolio due to this sale was -0.05%. Richard Snow still held 50,000 shares as of 09/30/2008.
ULTRASHORT RUSSELL2000 PROSHARES has a market cap of $ million; its shares were traded at around $109.6 . The dividend yield of ULTRASHORT RUSSELL2000 PROSHARES stocks is 1%.
Reduced: RehabCare Group Inc. (RHB)
Richard Snow reduced to his holdings in RehabCare Group Inc. by 40.52%. His sale prices were between $15.46 and $20.23, with an estimated average price of $18.6. The impact to his portfolio due to this sale was -0.06%. Richard Snow still held 297,300 shares as of 09/30/2008.
REHABCARE GROUP INC. develops markets and manages comprehensive medicial rehabilitation programs and therapy services in acute-care hospitals skilled nursing units and outpatient facilities. RehabCare Group Inc. has a market cap of $276.06 million; its shares were traded at around $15.55 with a P/E ratio of 14.98 and P/S ratio of 0.39.
Reduced: New York & Company Inc. (NWY)
Richard Snow reduced to his holdings in New York & Company Inc. by 30.61%. His sale prices were between $8.69 and $11.8, with an estimated average price of $10.2. The impact to his portfolio due to this sale was -0.07%. Richard Snow still held 878,848 shares as of 09/30/2008.
New York & Company Inc. is a leading specialty retailer of fashion-oriented moderately-priced women's apparel. The Company's proprietary branded New York & Company merchandise is sold exclusively through its national network of retail stores. New York & Company Inc. has a market cap of $149.16 million; its shares were traded at around $2.64 with a P/E ratio of 23.94 and P/S ratio of 0.13.
Reduced: Citigroup Inc. (C)
Richard Snow reduced to his holdings in Citigroup Inc. by 93.09%. His sale prices were between $15.72 and $20.39, with an estimated average price of $18.4. The impact to his portfolio due to this sale was -0.14%. Richard Snow still held 255,970 shares as of 09/30/2008.
Citigroup Inc. the leading global financial services company has some two hundred million customer accounts and does business in more than hundred countries providing consumers corporations governments and institutions with a broad range of financial products and services including consumer banking and credit corporate and investment banking securities brokerage and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank CitiFinancial Primerica Smith Barney and Banamex. Citigroup Inc. has a market cap of $64.96 billion; its shares were traded at around $11.52 with P/S ratio of 2.29. The dividend yield of Citigroup Inc. stocks is 10.54%.
Reduced: ULTRASHORT S&P500 PROSHARES (SDS)
Richard Snow reduced to his holdings in ULTRASHORT S&P500 PROSHARES by 34.29%. His sale prices were between $60.29 and $67.39, with an estimated average price of $63.9. The impact to his portfolio due to this sale was -0.15%. Richard Snow still held 230,000 shares as of 09/30/2008.
ULTRASHORT S&P500 PROSHARES has a market cap of $ million; its shares were traded at around $94.6 . The dividend yield of ULTRASHORT S&P500 PROSHARES stocks is 0.9%.
Reduced: Benchmark Electronics Inc. (BHE)
Richard Snow reduced to his holdings in Benchmark Electronics Inc. by 28.07%. His sale prices were between $14.31 and $17.59, with an estimated average price of $16.1. The impact to his portfolio due to this sale was -0.38%. Richard Snow still held 3,456,698 shares as of 09/30/2008.
Benchmark Electronics Inc. provides contract electronics manufacturing and design services to original equipment manufacturers in select industries including medical devices communications equipment industrial and business computers testing instrumentation and industrialcontrols. They specializes in manufacturing high quality technologically complex printed circuit board assemblies with computer-automated equipment using surface mount and pin-through-hole interconnection technologies for customers requiring low to medium volume production runs. Benchmark Electronics Inc. has a market cap of $784.60 million; its shares were traded at around $11.7 with a P/E ratio of 9.09 and P/S ratio of 0.28.
Reduced: Health Management Associates Inc. (HMA)
Richard Snow reduced to his holdings in Health Management Associates Inc. by 55.96%. His sale prices were between $4.4 and $6.29, with an estimated average price of $5.7. The impact to his portfolio due to this sale was -0.49%. Richard Snow still held 7,615,813 shares as of 09/30/2008.
Health Management Associates Inc. provides a broad range of general acute care health services in non-urban communities. The Company pursues a business strategy of efficiently and profitably operating its existing base of facilities and selectively acquiring additional 100 to 300 bed acute care hospitals located in non-urban communities in market areas of 40000 to 300000 people in the southeastern and southwestern UnitedStates. Health Management Associates Inc. has a market cap of $518.20 million; its shares were traded at around $2.28 with a P/E ratio of 3.16 and P/S ratio of 0.12.
Sold Out: Verizon Communications Inc. (VZ)
Richard Snow sold out his holdings in Verizon Communications Inc.. His sale prices were between $31.67 and $34.89, with an estimated average price of $33.9. The impact to his portfolio due to this sale was less than 0.01%.
Verizon Communications formed by the merger of Bell Atlantic and GTE is one of the world's leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the world's largest provider of print and on-line directory information. Verizon Communications Inc. has a market cap of $85.36 billion; its shares were traded at around $29.25 with a P/E ratio of 13.73 and P/S ratio of 0.86. The dividend yield of Verizon Communications Inc. stocks is 7.34%.
Sold Out: St. Jude Medical Inc. (STJ)
Richard Snow sold out his holdings in St. Jude Medical Inc.. His sale prices were between $41.24 and $47.97, with an estimated average price of $45. The impact to his portfolio due to this sale was less than 0.01%.
St. Jude Medical Inc. is dedicated to making life better for cardiac neurological and chronic pain patients worldwide through excellence in medical device technology and services. The Company has five major focus areas that include cardiac rhythm management atrial fibrillation cardiac surgery cardiology and neuromodulation. St. Jude Medical Inc. has a market cap of $12.33 billion; its shares were traded at around $34.83 with a P/E ratio of 17.99 and P/S ratio of 2.82.
Sold Out: WalMart Stores Inc. (WMT)
Richard Snow sold out his holdings in WalMart Stores Inc.. His sale prices were between $56.06 and $62.41, with an estimated average price of $58.7. The impact to his portfolio due to this sale was less than 0.01%.
Wal-Mart Stores Inc. is the world's largest retailer. They are engaged in the operation of mass merchandising stores which serve their customers primarily through the operation of three segments which are the Wal-Mart Stores segment the SAM'S Club segment and the International segment. WalMart Stores Inc. has a market cap of $214.2 billion; its shares were traded at around $53.49 with a P/E ratio of 16.20 and P/S ratio of 0.53. The dividend yield of WalMart Stores Inc. stocks is 1.85%.
Sold Out: Worthington Industries Inc. (WOR)
Richard Snow sold out his holdings in Worthington Industries Inc.. His sale prices were between $16.29 and $19.52, with an estimated average price of $17.6. The impact to his portfolio due to this sale was less than 0.01%.
Worthington Industries is one of the leading diversified metal processing companies. The company is one of North America's premier value-added steel processors and one of the leaders in manufactured metal products such as automotive aftermarket stampings pressure cylinders metal framing metal ceiling grid systems and laser welded blanks. (Company Press Release) Worthington Industries Inc. has a market cap of $901.72 million; its shares were traded at around $11.47 with a P/E ratio of 5.92 and P/S ratio of 0.28. The dividend yield of Worthington Industries Inc. stocks is 6.24%.
Sold Out: Abbott Laboratories (ABT)
Richard Snow sold out his holdings in Abbott Laboratories. His sale prices were between $54.02 and $59.19, with an estimated average price of $57.3. The impact to his portfolio due to this sale was less than 0.01%.
Abbott Laboratories is a global broad-based health care company devoted to discovering new medicines new technologies and new ways to manage health. Abbott products span the continuum of care from nutritional products and laboratory diagnostics through medical devices and pharmaceutical therapies. Abbott comprehensive line of products encircles life itself addressing important health needs from infancy to the golden years. Abbott Laboratories has a market cap of $85.8 billion; its shares were traded at around $53.74 with a P/E ratio of 18.98 and P/S ratio of 2.90. The dividend yield of Abbott Laboratories stocks is 2.65%.
Sold Out: The Bank of New York Mellon Corp. (BK)
Richard Snow sold out his holdings in The Bank of New York Mellon Corp.. His sale prices were between $34.13 and $39.65, with an estimated average price of $35.9. The impact to his portfolio due to this sale was less than 0.01%.
Bank of New York is a bank holding company and one of the world's larger financial institutions. They provide comprehensive financial services to individuals small and mid-sized businesses multinational corporations financial institutions governments and public agencies worldwide. Their products and services are organized into five business lines: Securities Servicing and Global Payment Services Private Client Services and Asset Management Corporate Banking Global Markets and Retail Banking. The Bank of New York Mellon Corp. has a market cap of $34.54 billion; its shares were traded at around $29.91 with a P/E ratio of 18.45 and P/S ratio of 2.37. The dividend yield of The Bank of New York Mellon Corp. stocks is 3.45%.
Sold Out: Cambridge Heart Inc. (CAMH.OB)
Richard Snow sold out his holdings in Cambridge Heart Inc.. His sale prices were between $0.12 and $0.49, with an estimated average price of $0.3. The impact to his portfolio due to this sale was less than 0.01%.
Cambridge Heart Inc. has a market cap of $14.24 million; its shares were traded at around $0 with P/S ratio of 1.67.
Sold Out: Chesapeake Energy Corp. (CHK)
Richard Snow sold out his holdings in Chesapeake Energy Corp.. His sale prices were between $37.86 and $66.65, with an estimated average price of $48.6. The impact to his portfolio due to this sale was less than 0.01%.
Chesapeake Energy Corp. is an independent oil and gas company engaged in the development exploration acquisition and production of onshore natural gas and oil reserves. Chesapeake owns interests in producing oil and gas wells concentrated in three primary operating areas: the Mid-Continent region of Oklahoma western Arkansas southwestern Kansas and the Texas Panhandle; the Gulf Coast region consisting primarily of the Austin Chalk Trend in Texas and Louisiana and the Tuscaloosa Trend in Louisiana; and the Helmet area of northeastern British Columbia. Chesapeake Energy Corp. has a market cap of $13.59 billion; its shares were traded at around $22.53 with a P/E ratio of 7.14 and P/S ratio of 1.22. The dividend yield of Chesapeake Energy Corp. stocks is 1.47%.
Sold Out: Syneron Medical Ltd. (ELOS)
Richard Snow sold out his holdings in Syneron Medical Ltd.. His sale prices were between $13.63 and $16.51, with an estimated average price of $15.1. The impact to his portfolio due to this sale was less than 0.01%.
Syneron Medical Ltd. manufactures and distributes medical aesthetic devices that are powered by the proprietary patented ELOS combined-energy technology of Bi-Polar Radio Frequency and Light. The Company's innovative ELOS technology provides the foundation for highly effective safe and cost-effective systems that enable physicians to provide advanced solutions for a broad range of medical-aesthetic applications. Syneron Medical Ltd. has a market cap of $245.82 million; its shares were traded at around $8.9 with a P/E ratio of 7.85 and P/S ratio of 1.70.
Sold Out: Hovnanian Enterprises Inc. (HOV)
Richard Snow sold out his holdings in Hovnanian Enterprises Inc.. His sale prices were between $4.81 and $9.05, with an estimated average price of $7. The impact to his portfolio due to this sale was less than 0.01%.
HOVNANIAN ENT. primarily designs constructs and markets multi-family attached condominium apartments and townhouses and single family detached homes in planned residential developments in its Northeast Region (comprised primarily of ersey and eastern Pennsylvania) in southeastern Florida in North Carolina in Metro Washington D. C. (northern Virginia) and in southwestern California. The Company recently began housing operations in Poland. The Company markets its homes to first time buyers and to first and second time move-up buyers and concentrates on the moderately priced segment of th Hovnanian Enterprises Inc. has a market cap of $306.98 million; its shares were traded at around $3.99 with P/S ratio of 0.08.
Sold Out: Regions Financial Corp. (RF)
Richard Snow sold out his holdings in Regions Financial Corp.. His sale prices were between $8.41 and $19.8, with an estimated average price of $10.7. The impact to his portfolio due to this sale was less than 0.01%.
Regions Financial Corporation is a regional bank holding company and hasbanking-related subsidiaries engaged in mortgage banking credit life insurance leasing and securities brokerage activities with offices in various Southeastern states. Through its subsidiaries Regions offers a broad range of banking and banking-related services. Regions Financial Corp. has a market cap of $7.58 billion; its shares were traded at around $10.63 with a P/E ratio of 11.00 and P/S ratio of 1.28. The dividend yield of Regions Financial Corp. stocks is 4.47%.
Sold Out: Merck & Co. Inc. (MRK)
Richard Snow sold out his holdings in Merck & Co. Inc.. His sale prices were between $31.84 and $38.03, with an estimated average price of $34.7. The impact to his portfolio due to this sale was less than 0.01%.
Merck & Co. Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891 Merck discovers develops manufactures and markets vaccines and medicines to address unmet medical needs. The company devotes extensive efforts to increase access to medicines through far-reaching programs that not only donate Merck medicines but help deliver them to the people who need them. Merck also publishes unbiased health information as a not-for-profit service. Merck & Co. Inc. has a market cap of $61.16 billion; its shares were traded at around $27.86 with a P/E ratio of 13.85 and P/S ratio of 2.45. The dividend yield of Merck & Co. Inc. stocks is 5.56%.
Sold Out: IPC Holdings Ltd. (IPCR)
Richard Snow sold out his holdings in IPC Holdings Ltd.. His sale prices were between $26.81 and $32.77, with an estimated average price of $30.6. The impact to his portfolio due to this sale was less than 0.01%.
IPC HLDGS LTD through its wholly-owned subsidiary IPCRe Limited provides property catastrophe reinsurance and to a limited extent marine aviation property-per-risk excess and other short-tail property reinsurance on a worldwide basis. IPC has a strong capital position and well established market presence within the property catastrophe reinsurance market. IPC Holdings Ltd. has a market cap of $1.2 billion; its shares were traded at around $24.6 with a P/E ratio of 7.06 and P/S ratio of 3.44. The dividend yield of IPC Holdings Ltd. stocks is 3.72%.
Sold Out: ISHARES RUSSELL 3000 VALUE INDEX FD (IWW)
Richard Snow sold out his holdings in ISHARES RUSSELL 3000 VALUE INDEX FD. His sale prices were between $85.37 and $90.92, with an estimated average price of $88.7. The impact to his portfolio due to this sale was less than 0.01%.
ISHARES RUSSELL 3000 VALUE INDEX FD has a market cap of $ million; its shares were traded at around $64.56 . The dividend yield of ISHARES RUSSELL 3000 VALUE INDEX FD stocks is 2.7%.
Sold Out: Select Sector SPDRFinancial (XLF)
Richard Snow sold out his holdings in Select Sector SPDRFinancial. His sale prices were between $18.5 and $22.38, with an estimated average price of $20.9. The impact to his portfolio due to this sale was less than 0.01%.
Select Sector SPDRFinancial has a market cap of $ million; its shares were traded at around $14.03 . The dividend yield of Select Sector SPDRFinancial stocks is 3.8%.
