Ask.com admits it isn't the answer

Its corporate parent will severely downsize the search engine, saying it can't compete against other search engines, especially Google.

Ask.com, the Internet search engine that media mogul Barry Diller acquired for $1.85 billion to compete with Google (GOOG), is cutting 130 engineering jobs and conceding much of its search business to competitors.

Ask.com, a unit of Diller’s IAC/InterActiveCorp (IACI), is firing engineers based in Edison, N.J., and Hangzhou, China. It's ceasing work on its algorithmic search technology, according to Ask.com President Doug Leeds.
 

IAC shares fell 1.3% to $28.30 in regular trading today but rallied 1.6% to $28.75 after hours.

Leeds said Google has become too powerful a competitor to justify Ask.com’s continued pursuit of those search users.

 

Disclosure None

Recent Buys and current news

July News is in so far. On 7/6/10 I purchased EOS, FSC and PFE $8.00 each company. On 7/13/10 I purchased ED, IBM, BPT at $8.00 each. My june statement has arrived. Equities and stock for June $351.11 value at may end was $261.44. Dividends for the month Jumped to $2.25 from .79 cents the period before.


    My top three holdings for June were GE 1.594 Shares $22.99, 2nd IGD 1.9271 shares $20.06, and #3 is AOD 3.7947 shares $18.78. Top 3 dividends in June were AOD .44 cents , FRO .25 cents, DO Special Dividend .13 cents Regular Dividend .01 cent. Total of 12 buys for June. Total 33 dividends collected in June.

Well thatis it for now cheers all.

Wowzers Were did da time go.............

     I stumbled across my password the other day finally can do some updated. The wife had a heart attack I had to sell all that had at folio investing and recover the family. I now have a roth ira through sharebuilder.com Get ya own Account here. I am still using the same investing style as before. I put in 50.00 every payday and invest $5.00 for each day that I work (Kinda like a reward for having to go to work and deal with all the drama everyday that goes with work). With that being said my first deposit was on 4-16-2010. My account today stands at $346.21. I am a subscriber to the plan so I pay a flat $12.00 per month for 12 trades per month. I am long 52 different holdings in what I think is a pretty diversified portfolio. My current Holdings ranked by the amount held in the account 1 being my biggest holding and 52 being my smallest.

    My current holdings include the following, AOD, IGD, MRK, WMT, TNH, FRO, DO, GE, XOM, INTC,  PHK, EOS, PTY, DPD, IID, PHT, GDX, NLY, BMY, CTL, VNQ, CFP, CAH, KMB, O, PEP, SYY, CAT, PG, TPZ, ESD, LQD, EOI, ABT, PGX, JNK, PFF, VWO, GGN, MMM, IGI, BDX, XLF,  BAX, FSC, SPY, PFE, ED, KMP, BPT, IBM, AND BP.Those are all my holdings that i plan to stick with for now and the ones I talk about on my blog. In my challenge to beat the company sponsored 401k.

         I try to invest with a huge focus on dividends and reinvesting of the dividends you can not beat having your money working for you. Most of the time if a holding cuts its dividend I will sell it the next chance I get (however different in the case of bp). As this stock i am not sure what to do with so I will just hold it for the time being.

       Dividends Paid this month include, INTC, PFE, WMT, DO on 6-1-2010, LQD, PFF on 6-7-2010, JNK on 6-9-2010, IBM on 6-9-2010, XOM, MMM on 6-14-2010, ED, IGD, IID, and O on 6-15-2010 and CTL on 6-21-2010. All dividends are automatically reinvested back into the same stock they come from.

       I purchased DO, IGI, FRO, GDX and PHT on the 6-01-2010 value $5.00 each. On 6-8-210 I purchased AOD 2.05 shares for $13.00 and 1.1321 shares of IGD for $12.00. On 6-15-210 I purchased 0.3422 shares of MRK for $12.00 and 0.2525 shares of WMT for $13.00. And next week I plan to purchase on Tuesday $12.00 worth of IBM and $13.00 worth of ED.

      It seems like it is taken for ever to get this going all over again, but I know Rome wasn't built in a day. So I be using this blog to share my thoughts and current investments. Feel free to follow along with me as I try to once again build a nest egg of money working for me.

DTE Energy (DTE) Declares Dividend of $0.53

The DTE Energy (NYSE: DTE) has declared a $0.53 per share dividend on its common stock payable Oct. 15, 2009, to shareholders of record at the close of business Sept. 21, 2009.

To receive this dividend, you must own the shares before September 17.

Disclosure I am long DTE shares.

CenturyLink (CTL) Declares Quarterly Cash Dividend of $.70

CenturyLink (CenturyTel, Inc.) (NYSE: CTL - News) today announced that its Board of Directors voted to declare a quarterly cash dividend of $.70 per share, payable on September 21, 2009, to shareholders of record on September 8, 2009.

CenturyLink is a leading provider of high-quality voice, broadband and video services over its advanced communications networks to consumers and businesses in 33 states. CenturyLink, headquartered in Monroe, La., is an S&P 500 Company and expects to be listed in the Fortune 500 list of America's largest corporations. For more information on CenturyLink, visit www.centurylink.com.

Disclosure I am long CTL shares

Intel (INTC) declares quarterly dividend of 14 cents, Yielding 3.10%

Chip maker Intel Corp. declared a quarterly dividend of 14 cents per share Thursday.

The dividend, unchanged from the previous quarter, is payable Sept. 1 to shareholders on record as of Aug. 7.

Intel (INTC - News), the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live. Additional information about Intel is available at www.intel.com/pressroom and blogs.intel.com.

Disclosure I am long INTC in my tech folio.

Integrys Energy (TEG)sets 68-cent quarterly dividend

The Board of Directors of Integrys Energy Group, Inc. (TEG - Quote) has declared a quarterly dividend of $0.68 per share on common stock, payable on September 19, 2009, to shareholders of record August 31, 2009.

Company info:

Integrys Energy Group, Inc., through its subsidiaries, operates as a regulated electric and natural gas utility company in the United States and Canada. The company generates electricity through coal, natural gas and fuel oil, hydroelectric, nuclear, and wind resources. It offers electric services to various customers, including municipal utilities, electric cooperatives, energy marketers, other investor-owned utilities, and municipal joint action agencies.

The company also engages in natural gas distribution operations in Michigan and Minnesota. In addition, it offers nonregulated energy supply and services to residential, commercial, industrial, and wholesale customers. As of December 31, 2008, Integrys Energy Group served approximately 487,500 regulated electric utility customers and approximately 1,669,900 regulated natural gas utility customers. The company was formerly known as WPS Resources Corporation and changed its name to Integrys Energy Group, Inc. in February 2007. Integrys Energy Group, Inc. was founded in 1883 and is based in Chicago, Illinois.


Disclosure I am long TEG in my utilities folio.

The Reaves Utility Income Fund Announces Regular Monthly Dividend of $0.115 Per Share

The Reaves Utility Income Fund (UTG - Quote) today announced the next three monthly dividends at a rate of $0.115 per common share per month, unchanged from the per share rate paid for the previous quarter. The dividend represents an annualized yield of 10.26% based on the current market price. As of July 6, 2009, the Fund’s market price was $13.45 per share and its net asset value was $13.74 per share.

A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions in 2009, including the percentage of qualified dividend income, will be made after year end.

Not less than eighty percent of the Fund’s assets will continue to be invested in the securities of utility companies. As a policy, the Fund continues to strive to provide a high level of after-tax income and total return consisting primarily of tax-advantaged dividend income and capital appreciation.

Ronald Sorenson, CEO, Chief Investment Officer of W. H. Reaves and portfolio manager of the Fund, noted recently that the most important determinant of the Fund’s ability to pay its dividend is the dividend-paying ability of the companies in which the Fund invests. “The Fund’s net asset value dropped over the past twelve-months,” Sorenson commented, “but the ability of our companies to pay and grow their dividend has not diminished. Earnings growth at many of the companies in which we invest may be slower than we had anticipated twelve months ago. Nonetheless, the company fundamentals still point to a trend of growing earnings and dividends.”

The following dates apply to the upcoming dividends that have been declared:

Ex-Distribution Date: July 20, 2009
Record Date: July 22, 2009
Payable Date: July 31, 2009

Ex-Distribution Date: August 17, 2009
Record Date: August 19, 2009
Payable Date: August 31, 2009

Ex-Distribution Date: September 16, 2009
Record Date: September 18, 2009
Payable Date: September 30, 2009

The Reaves Utility Income Fund

The investment objective of the Fund is to provide a high level of income and total return consisting primarily of tax-advantaged dividend income and capital appreciation. There were approximately $562 million of total assets under management and 22.7 million common shares outstanding as of July 6, 2009.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus which contains this and other information visit www.utilityincomefund.com or call 1-800-644-5571. Read the prospectus carefully before investing or sending money.

Disclosure I am long UTG in my utilities folio.

Brazil Telecom Participacoes S/A (BRP) EPS Reported Estimated $8.05 per shared Healthy Dividend is in Order

Brasil Telecom in a recently deregulated industry, also involved in a recent merger with another top Brazilian telecom provider, in an emerging market where people are in increasing need of phone/mobile services. A growth pick.

BRP is moving increasingly into mobile communications and this is where its "growth edge" should come from. It appears to be undervalued relative to its growth prospects and has an excellent balance sheet. Some financials: PEG is less than 0.5, PE ratio about 1/2 of that for industry, yet 5 yr. est. growth at 30%+ !. Gross profit margin 37% and lots of free cash. Brazil headed for upgrade to investment status in next year. Given low growth rates at home, I think this overseas investment will be a winner. Big run up but hitting new highs and should go higher.

Currently has more cash $21.82 on the books than microsoft, current book value $40.57 trading at 0.96 times book. Carrying a P/E of 6.19 and a forward P/E of 4.85. Not a lot of debt for a telecommunication company.


Disclosure I am long BRP in my utilities folio.

Progress Energry Company (PGN) Declares Dividend for 250th Consecutive Quarter

PGN shares a closed Friday at $37.76 up +0.01.Trading at 1.14 times book value. P/E is 12.38 with a forward P/E of 11.56% We are adding mores shares to holding for at least 24 months. Traded 1.230,000 on Friday last I looked on blackberry(was at work aka the coal mines). Currently pays a $2.48 annual dividend per share, yielding 6.57% !

Back on May 13, the board just declared its 250th consecutive quarter.

Quoting Chairman, President and CEO Bill Johnson.

"Our company has a strong foundation and a bright future," Johnson said. "We have a clear strategic focus on the electric utility industry and we have two strong utilities."

"We have a relentless daily focus on excelling in the fundamentals of our business," Johnson said. "Our employees are collaborating well to control costs and find efficiency improvements. We've had very good success in delivering on our financial commitments, and we're making smart investments in our future."

"Sustainable dividend growth is a financial hallmark of our company, and a reputation we intend to build on,"

"These are challenging times for our economy," Johnson said. "Our nation and industry face some big decisions on energy. But our company has a balanced, flexible plan to prepare us and our customers for a new energy future. I am confident we are on the right track."

The company's two utilities - Progress Energy Carolinas and Progress Energy Florida - provide retail electric service to 3.1 million customers in North Carolina, South Carolina and Florida.

Disclosure I am long PGN shares in my Utlities Folio

Progress Energy Florida Names Vincent Dolan new President and CEO

Progress Energy (NYSE: PGN - Chart) has named Vincent M. Dolan to succeed Jeffrey J. Lyash as president and chief executive officer for Progress Energy Florida, which serves more than 1.6 million Florida households and businesses.

Dolan, 54, has 32 years of experience in the energy industry and has been with Progress Energy and predecessor Florida Power Corp. since 1986 in positions of increasing responsibility. His career includes extensive operations, strategy development, customer service, regulatory affairs and business management experience. He has served most recently as vice president of External Relations for Progress Energy Florida.

"An important component to the success of our utilities will involve the continued development of customer and key leader relationships that support a constructive business climate," said William Johnson, chairman, president and CEO for Progress Energy. "In addition to his outstanding and recognized leadership within the company, Vincent brings a unique mix of experience to his new role. I am confident in his ability to lead Progress Energy Florida during this era of potentially transformational change in the energy industry."

"I'm excited about this opportunity to lead our dedicated employees as we continue to meet the needs and expectations of our customers and communities," Dolan said. "There are many changes under way in the energy industry, but two constants are the expectations our customers and regulators have for us - and the high standards we have for ourselves. We know more than 1.6 million families and businesses depend on us to keep electric service safe, reliable, affordable and environmentally sound. And we're committed to meeting and exceeding their expectations every day."

Lyash, Progress Energy Florida's president and CEO since 2006, has been named executive vice president for Corporate Development for Progress Energy. In his new role, Lyash, 47, will be responsible for numerous elements of the company's balanced solution strategy, including its efforts to expand energy efficiency, renewable energy resources and state-of-the-art power plants. He will relocate from St. Petersburg to North Carolina, but will oversee the company's strategic resource efforts - developing technology, programs and infrastructure to advance the balanced solution strategy - in the Carolinas and Florida.

"I am extremely proud of what our employees accomplish 24 hours a day, seven days a week - dependably, efficiently and without fanfare - in ensuring that when our customers flip the switch, the lights come on," Lyash said. "As we look to the future of our state and region, we know that ensuring a high level of reliability and service for the future means pursuing innovative and cost-effective energy technologies, expanding our industry-leading efficiency programs and ensuring a state-of-the-art electric system that our customers can continue to depend on. We are actively pursuing all three elements while maintaining a daily focus on operational excellence."

The new assignments are effective July 6.

Progress Energy (NYSE: PGN - News), headquartered in Raleigh, N.C., is a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues. Progress Energy includes two major electric utilities that serve approximately 3.1 million customers in the Carolinas and Florida. The company has earned the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence, and was the first utility to receive the prestigious J.D. Power and Associates Founder's Award for customer service. The company is pursuing a balanced strategy for a secure energy future, which includes aggressive energy-efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. Progress Energy celebrated a century of service in 2008. Visit the company's Web site at www.progress-energy.com.

Disclosure I am long PGN shares in my Utlities Folio

CenturyTel-Embarq Merger Approved by FCC

CenturyTel Inc. (CT-Chart- News)says it expects to close its acquisition of Embarq Corp. (EQ- Chart - News)on July 1 following approval of the deal by the Federal Communications Commission creating a phone company with about 8 million lines spanning 33 states, mainly in rural areas.

The FCC action announced Thursday was the last needed regulatory approval.

CenturyTel, the Monroe-based telecommunications provider, said earlier that the company's new name will be CenturyLink. The company's stock will continue to trade under the symbol CTL.

CenturyTel announced last year it was buying Overland Park, Kan.-based Embarq, the nation's fourth-largest traditional telephone company. Analysts said it was a harbinger of further deals for rural phone companies, which are suffering from line losses as consumers choose phone service from wireless or cable companies.

The deal earlier was approved by all 33 states in which the two companies operate.

Apart from providing service in rural areas and smaller cities in 18 states from coast to coast, Embarq is also the main phone company in Las Vegas. CenturyTel's service areas are mainly in the South and Midwest, in a swath from Louisiana to Minnesota. It also provides service in Colorado and the Northwest. Combined, the companies will have 8 million telephone lines, 2 million broadband customers and about 400,000 video subscribers.

While the company will be based at CenturyTel's headquarters, Embarq shareholders will own two-thirds of the business. They are set to receive 1.37 CenturyTel shares for each share of Embarq stock they own.

Based on CenturyTel's Wednesday close of $31.51, that's equivalent to $43.17 worth of CenturyTel stock for each Embarq share owned.

CenturyTel shares closed up 65 cents at $32.16 in trading Thursday while Embarq shares finished up $1.06 to $44.08.

CenturyTel Chief Executive Glen Post will hold the same position in the new company, with Tom Gerke, Embarq's CEO, as executive vice chairman.

Disclosure I am long Both CTL and EQ shares.

Time to Buy Water ETFs?

Water scarcity is rising up the agenda as a major social and economic issue affecting the worlds' poor. Risks to grain harvests are rising due to the fact that 2.8-billion people live in areas of high water stress. The opportunity for greater water efficiencies is enormous in the developed world too and so is the investment opportunity.

The potential for efficiency gains in water transmission and use are enormous given that about half of water used for irrigation is lost to evaporation and waste, according to a report by the World Economic Water Initiative.

The reality is that water usage is rising all over the world. Changing diet patterns toward meat consumption doubles the need for water for production relative to a vegetarian diet. In the developed world, energy production accounts for nearly 40% of all water withdrawals and that need will grow by 50% by 2025 according to the World Economic Forum.

I have added CGW Claymore water ETF.

Claymore S&P Global Water Index ETF (the Fund) seeks investment results that correspond generally to the performance of an equity index called the S&P Global Water Index (the Index). The Index consists of approximately 50 stocks selected based on the relative importance of the global water industry within the company's business model from a universe of companies listed on global developed market exchanges. The Index is designed to have a balanced representation from different segments of the water industry consisting of two clusters: 25 water utilities and infrastructure companies and 25 water equipment and materials companies based upon Standard & Poor's Capital IQ (CIQ) industry classification. The Fund’s index provider is Standard & Poor's. The Fund will normally invest at least 90% of its total assets in common stock and American depositary receipts (ADRs) that comprise the Index. The Fund’s investment advisor is Claymore Advisors, LLC.

Disclosure I am long CGW shares

American Software's (AMSWA) Board Approves the Quarterly 9 cent Cash Dividend

American Software, Inc. (Nasdaq: AMSWA) today announced that its Board of Directors has approved the Company's quarterly dividend of $0.09 per share. The Company's regular
quarterly cash dividend of $0.09 per share of American Software common stock is payable on September 25, 2009 to shareholders of record at the close of business on August 21, 2009.

In other News :

ATLANTA (Mau 15, 2009) American Software, Inc. (NASDAQ: AMSWA) announced today that it has agreed to increase the price of its offer to acquire all of the outstanding common stock of Logility, Inc. (NASDAQ: LGTY) not currently owned by American Software to $7.02 per share net to the seller in cash, without interest. The $7.02 offer price represents a premium of 40.4% when compared to the closing price on March 18, 2009 (the last trading day prior to the initial announcement of the tender offer) and a 37.6% premium over American Software’s original proposal of $5.10, which was also the closing price on May 14, 2009. The tender offer is expected to commence as soon as reasonably practicable. American Software currently owns approximately 88% of the outstanding common stock of Logility.

Disclosure I am long AMSWA Shares in my technology folio

Dividend Stock analysis of China Mobile(CHL) adr emerging stock

Ok my analysis of China Mobile Limited (CHL), This is a emerging market place on wireless mobile phones. Based in Hong Kong, more than 160 million phones were sold in China in 2008! China mobile has a 75% market share in China. Currently has 470 million subscribers, 50 larger than the entire US population. Where is the buy button, ha ha ha.

Currently traded at just a tad over 11 times earnings. Has $7.86 cash on hand per share., pays a twice a year dividend of 3.93%, and growing at a alarming pace with the dividends per year. Expected to increase sales by 5% even in these times. Carry's next to nothing in debt. Insiders own 75.25% of current 4.01 billion shares. Leaving less than 1 billion share to purchase on open market, that in itself could be considered a premium.

I have set a fair target price with earnings of $4.06 per share with a fair 15 P/E comes to a target price of $60.90 per share. Closed Friday night at %46.06. Now if you add the cash that drops the P/E way down to 4 to 5 range which makes this stock a steal. This is a technology play with a emerging market twist.

Disclosure I will be going long on Chl shares Monday order is in.

Thanks Dividend Basket

FactSet Research (FDS) boosts quarterly dividend 11 pct

FactSet Research Systems Inc. (FDS) said on Tuesday that it is raising its quarterly dividend 11%, to 20 cents a share from 18 cents a share. The cash dividend will be paid on June 16, 2009 to holders of record of FactSet's common stock on May 29, 2009.

FactSet offers instant access to financial data and analytics to thousands of analysts, portfolio managers, and investment bankers at the world’s financial institutions.

FactSet’s business is built on the creative use of technology and an unwavering dedication to client service. We remain on the cutting edge by continually developing and refining our software. Our tools enable clients to perform investment research at the most sophisticated level. We offer individual consultant contacts, 24-hour personal support, and dedication to our users for client service that is unsurpassed in the industry.

FactSet has been listed as one of Forbes’ “200 Best Small Companies” for 12 consecutive years.

Disclosure None

Energy company Avista(AVA) declares increased quarterly dividend of 21 cents per share

The energy company Avista Corp. said Thursday its board has declared a quarterly dividend of 21 cents per share on its common stock, an increase of 3 cents per share, or about 17 percent. The dividend will be paid June 15 to shareholders of record on May 21.

Current Yield 5.31% Been raising dividends since 2004 here is dividend history.

Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses.

Avista affiliate companies include:

Avista Utilities: Efficient, reliable electricity and natural gas Advantage IQ: E-Business facility intelligence Our strategy is on track. Our solid, stable and reliable energy business provides a strong foundation, and we are building an equally solid energy-related affiliate. We are seeing the results of our efforts. At the core of our strategies is a focus on reliably building value for our customers, investors, communities and employees. We are Avista. We improve life’s quality… with energy.

Disclosure I am long AVA Shares

IBM (IBM) boosts qtr dividend 10%. Yield 2.11%

International Business Machines (IBM), which develops and manufactures information technology products and services worldwide, announced a 10% boost to its quarterly dividend to $0.55 per share. IBM is a dividend achiever, which has rewarded its shareholders with an uninterrupted streak of increased dividends for 14 consecutive years. The stock currently yields only 2.00%.

Disclosure None

Aqua America Declares June 2009 Dividend

The Board of Directors of Aqua America, Inc. (NYSE: WTR - News) today declared a quarterly cash dividend payment of $0.135 per share payable on June 1, 2009, to all shareholders of record on May 18, 2009.

The June dividend payment of $0.135 per share is eight percent higher than the dividend the company paid in June 2008 of $0.125 per share. Aqua has paid a consecutive quarterly dividend for more than 60 years.

Aqua America is a publicly traded water and waste water utility holding company with operating subsidiaries serving approximately three million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, New York, Florida, Indiana, Virginia, Maine, Missouri and South Carolina. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR.

Disclosure None

Profit Declined 9.7% in Quarter for AT&T

AT&T, the telecommunications giant, reported on Wednesday that its first-quarter profit dropped 9.7 percent from a year ago, but the results far exceeded Wall Street’s expectation of a bigger drop.

Fueled largely by new subscribers using Apple’s iPhone handset, AT&T net income for the quarter was $3.1 billion, or 53 cents a share, compared with $3.5 billion or 57 cents a share in the period a year earlier.

Revenue was $30.6 billion, slightly down from $30.7 billion in the quarter a year earlier. Analysts had expected revenue of $31.1 billion.

Earnings were reduced by 5 cents a share because of increases in pension and retiree expenses. Excluding that item, earnings were 58 cents a share, exceeding analysts’ expectations that it would earn 48 cents a share.

The company reported growth from its wireless business, largely fueled by sales of Apple’s iPhone, for which the company is the sole carrier in the United States. The company reported a net gain of 1.2 million wireless subscribers and 875,000 consumers under contract, up 24.1 percent from the period a year earlier. AT&T also reported 1.6 million iPhone activations in quarter, more than 40 percent of which were for customers new to the company. The company faced declines in its wireline business.

An industry analyst with Sanford Bernstein, Craig Moffett, said the shift comes from a shrinking base of customers to sign up for cellphone services.

“For better or for worse, the industry depends on newcomers to sustain growth,” Mr. Moffett said. “They aren’t there any more.”

In terms of subscribers in North America who already have cellphones, he said “we are very close to saturation in the U.S.”

Disclosure I do not own T shares.