Naperville, Ill.-based Tellabs (NASDAQ: TLAB ) needs a new CFO.
In a vain attempt to avoid tanking its stock price, Tellabs announced Monday that company Executive Vice President and Chief Financial Officer Andrew B. Szafran has just resigned "for personal reasons" -- and most definitely for reasons "unrelated to Tellabs operations, financial reporting, or business outlook."
Investors don't appear to be buying that story, though, and were also not appeased by Tellabs' move to temporarily replace Szafran with company Chief Accounting Officer Tom Minichiello. In the wake of the CFO's departure announcement, Tellabs shares dropped 6.5% to close at $2.02 per share.
Counting today's losses, the money-losing company has seen its stock decline 39% in the past year. Analysts polled expect it will be at least another year before the company turns solidly profitable on an annual basis -- a goal that management turmoil could push even farther off.
Top Diversified Bank Stocks To Invest In 2014: Buxton Resources Ltd(BUX.AX)
Buxton Resources Limited engages in the acquisition and exploration of mining tenements in Australia. It explores for gold, copper, zinc, lead, and sulphide mineralization in the Archaean and Proterozoic rocks of Western Australia. The company owns interests in the Dempster Project that consists of 3 exploration license applications covering 411.6 square kilometers located in the west of the sealed Kalgoorlie-Esperance highway and rail line. It also holds interests in the Eelya Hill Project located within the Murchison granite-greenstone Province of the Archaean Yilgarn Craton. The company was incorporated in 2007 and is based in Subiaco, Australia.
Top Diversified Bank Stocks To Invest In 2014: Engineering.com(EGN.V)
Engineering.com Incorporated engages in the development and ownership of engineering.com Website and Internet based business. The company develops and publishes content and services, including engineering videos, job postings, engineering games, message boards, and calculators. It offers hosted and deployed engineering software and services to technology inventors, manufacturers, educational institutions, and consulting engineers. In addition, the company distributes CATIA, a CAD modeling system to the education market, as well as sells advertising on its Website. Further, it owns and maintains Collaboration Suite, a proprietary collaborative engineering application, which provides on a hosted basis. The company is based in Mississauga, Canada.
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Citigroup Funding Inc. offers debt instruments that include commercial papers, medium-term notes and structured equity-linked and credit-linked notes. Citigroup Funding, Inc. is based in United States. Citigroup Funding Inc. operates as a subsidiary of Citigroup, Inc.
Top Diversified Bank Stocks To Invest In 2014: Myers Industries Inc.(MYE)
Myers Industries, Inc. manufactures and distributes polymer products for the industrial, agricultural, automotive, commercial, and consumer markets primarily in the North, Central, and South America. It operates in four segments: Material Handling, Lawn and Garden, Engineered Products, and Distribution. The Material Handling segment offers plastic reusable material handling containers, and pallets and bins, as well as metal shelving, cabinets, and racking systems primarily under the Buckhorn and Akro-Mils brand names for automotive, appliance, general industrial/manufacturing, distribution, agriculture, retail, and food processing markets. The Lawn and Garden segment provides injection-molded and thermoformed pots, hanging baskets, flats and carry trays, plug trays, nursery containers, propagation sheets, and specialty pots under the Dillen, ITML, Pro Cal, Listo, Planters? Pride, and Akro-Mils Lawn & Garden brand names for the horticultural container needs of the floricult ure/horticulture market. Its customers include professional growers, greenhouses, nurseries, retail garden centers, mass merchandisers, and consumers. The Engineered Products segment offers engineered plastic and rubber original equipment and replacement parts, tire repair materials, and custom rubber and plastic components and materials under the Ameri-Kart, Patch Rubber, and WEK brand names. This segment serves the automotive, recreational vehicle and marine, construction and agriculture equipment, healthcare, and transportation markets. The Distribution segment distributes tools, equipment, and supplies used for tire, wheel, and undervehicle service on passenger, heavy truck, and off-road vehicles. It offers products under the Myers Tire Supply and Myers Tire Supply International brands to independent tire dealers, mass merchandisers, commercial auto and truck fleets, tire retreaders, and general repair facilities. Myers Industries, Inc. was founded in 1933 and is headqua rtered in Akron, Ohio.
Advisors' Opinion:- [By Fabian]
Myers Industries, Inc. manufactures a diverse range of polymer products for industrial, agricultural, automotive, commercial and consumer markets. Myers Industries manufactures plastic reusable material handling containers and pallets and produces plastic horticultural pots, trays and flower planters. Its EPS forecast for the current year is 0.56 and next year is 0.88. According to consensus estimates, its topline is expected to decline 0.02% current year and grow 1.42% next year. It is trading at a forward P/E of 12.19. Out of three analysts covering the company, two are positive and have buy recommendations and one has a hold rating.
Top Diversified Bank Stocks To Invest In 2014: Century Bancorp Inc.(CNBKA)
Century Bancorp, Inc. operates as the holding company for Century Bank and Trust Company, which provides banking services to commercial enterprises, state and local governments and agencies, nonprofit organizations, and individuals in Massachusetts. The company accepts savings accounts, NOW accounts, demand deposits, time deposits, and money market accounts. Its loan portfolio comprises single and multi-family residential loans, commercial and industrial loans, commercial real estate loans, construction loans, home equity loans, and consumer loans. The company also offers automated lockbox collection, cash management, and account reconciliation services to its corporate and institutional customers, as well as promotes the marketing of these services to the municipal market. In addition, it provides securities brokerage services; and financial services, including transaction processing and short-term financing to municipalities. As of December 31, 2009, Century Bancorp oper ated 22 banking offices in 17 cities and towns in Massachusetts. The company was founded in 1969 and is headquartered in Medford, Massachusetts.
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