Marc Faber Sees Major Stock Correction Coming

In an interview on the FuturesNow program, Marc Faber, who is author of the Doom Boom & Gloom report, said investors need to prepare for a huge drop in the market in the near future, which will provide a great buying opportunity for those who are ready for it.

Faber said, "I have a lot of cash at the moment, because on this rally since April I have been lightening up on positions."

Following on the footsteps of an accurate call in the early part of June that it was time to acquire equities, specifically those that had good dividend yields, where the Standard & Poor's 500 has jumped close to 14 percent since that time, Faber now tells investors they need to consider reversing those positions, saying he is now heavily in cash in anticipation of the downturn.

"Unfortunately I have a lot of dollars. I just want to have a lot of cash because I think that within the next six to nine months we can buy just about anything 20 percent lower than it is now," Faber noted.

Recently Faber said the U.S. economy has a 100 percent chance of going into a recession.

Joy Global (JOYG) Pushes Up on Stronger Commodity Performance

Mining equipment manufacturer Joy Global (NASDAQ:JOYG) is enjoying a boost in share price as the commodity sector has been strengthening and demand for its products and services remain strong.

The Board of Directors of Joy Global Inc. declared a quarterly common stock dividend of $0.175 per share payable 6/20/11 to shareholders of record at the close of business on 6/6/11.

Joy Global Inc., which participates in the manufacture and servicing of mining equipment for use in commodity production for coal, copper and iron ore, among others, closed Wednesday at $87.27, gaining $1.31, or 1.52 percent.

The company traded in a fairly wide range of $85.18 to $87.99. Volume was close to the 3-month daily average.

In after hours trading the company gained another $0.39, or 0.45 percent, reaching $87.66 a share.

BP (NYSE:BP) Lowering Capex to Help Fund Gulf Cleanup

BP (NYSE:BP) has made a couple of move recently to cleanup the Gulf and its reputation.

The most recent announcement is they're going to reduce capital expenditures by 10 percent in order to release funds to pay for the Gulf cleanup.

Recently they also said they're going to lower the number of operatorships it holds in the Gulf, raising more capital by selling portions to other operators.

New BP CEO Bob Dudley also said there shouldn't be a problem reinstating the dividend for BP sometime in the near future, although he balanced that by saying it's the board of directors' decision and not his as to when that would happen.

Slowly a sense of normalcy is returning to the company, and that could be a good thing for their market cap, which would help them going forward as the value of the company rises.

BP (NYSE:BP) Dividend Should Resume Soon Says Dudley

New BP (NYSE:BP) chief executive officer Bob Dudley said he believes the dividend for the company should be reinstated soon, probably within several months.

While Dudley said it's a decision of the board of directors, he thinks it'll be very soon.

“It’s obviously for the board to decide but from what I see happening in
the performance of the business, I believe we will get there,” said Dudley.

He bases his assumption on the company doing well at this time.

The dividend of BP was suspended in June in response to political pressure and release capital for liabilities. Most of it was for political reasons.

Corn Products (NYSE:CPO) Board Declares Quarterly Dividend

The board of directors of Corn Products International (NYSE:CPO) have declared a quarterly dividend of $0.14, with a yield of 1.5 percent.

Stockholders of record at the close of business on September 30, 2010 will have the dividend payable to them on October 25, 2010. Date for the ex-dividend is September 28, 2010.

Corn Products closed up Wednesday at $37.41, gaining $0.68, or 1.85 percent.

BP (NYSE:BP) Dividends to Resume?

The question on many BP (NYSE:BP) shareholders and investors minds when the company will reinstate the dividend.

Incoming CEO Robert Dudley stated near the end of July that the company wasn't going to be quick to jump back into the same "dividend philosophy" they held in the past.

He seems to really be saying that until they get a better picture of overall liabilities, there aren't going to reinstate the dividend. That picture is getting clearer, as Citigroup Inc. (NYSE:C) analyst Mark C. Fletcher said in a meeting he attended where Robert Dudley spoke to analysts, he reportedly said overall claims toward the $20 billion fund are probably going to be less than that amount, and he doesn't see overall claims exceeding $32 billion, or at least they'll be close to that number if they do go beyond it.

A growing number of analysts believe BP will either reinstate dividends in the fourth quarter, or at latest, the first quarter of 2011.

Sanford C. Bernstein & Co. analysts said in a note to clients, “BP’s cashflow position should be just strong enough to support restoration of dividends by the first quarter of 2011, under an $80 a barrel oil price scenario based on estimates. This assumes divestments are completed and the spill costs do not climb much above BP’s $32.2 billion estimate.”

Bernstein added this is based on the assumption BP will be able to successfully sell up to $30 billion in assets over the next 18 months, as they've said their goal is.

Suburban Propane Partners (NYSE:SPH) a Good Dividend Play

There isn't a lot out there in stocks to generate must interest these days, at least without a huge risk factor included with it, but the relatively boring Suburban Propane Partners (NYSE:SPH) could be a good company to take a closer look at.

Don't think this is going to be a stock that will ever be a high flyer; at least with its current products and focus on propane and fuel oil.

Other than a short period of time during the worst part of the recession, Suburban Propane has held pretty strongly, and because of the sector it supplies, will always have a steady, built-in market.

The management has done some good things, including expanding and cutting costs, but it's the dividend which is the most attractive for times like these, and that stands at 7 percent.

And even with the ongoing recession, they are now at a five-year high, so they've done a lot of things right and are resilient.

This is a solid company that won't grow particularly fast, but will give investors a good return with dividends that few companies can offer, and they're continuing to increase their share price in extremely tough economic times.

Suburban finished Tuesday and August at $49.42, gaining $0.35, or 0.71 percent.

Transocean's (NYSE:RIG) Earnings Fall 12 Percent on Lower Revenue, Utilization Rates

Transocean Ltd. (NYSE:RIG), which leased the Deepwater Horizon oil rig to BP (NYSE:BP) that exploded and resulted in the Gulf of Mexico oil spill, ended with lower utilization rates for the quarter, and their revenue dropped as a result, falling 12 percent.

Earnings dropped from $808 million, or $2.49 a share last year in the same quarter, to $720 million, or $2.22 a share this year.

Losses related to increases expenses of the oil disaster were part of the results for the quarter, although there was also an after-tax insurance gain in connection to the loss of the Deepwater Horizon rig itself.

Revenue dropped to $2.51 billion, 13 percent lower than last year, and below the $2.56 billion analysts estimated.

Utilization rates dropped from 84 percent to 64 percent year-over-year.

Uncertainty as to the fallout from the oil accident continues to weigh on the company, specifically in relationship to lawsuits. It isn't considered at fault in the accident itself.

Consequently, the dividend could be suspended indefinitely, although that has yet to be determined.

Murphy Oil (NYSE:MUR) Earnings Up 71 Percent on Higher Oil, Gas Prices and Wider Margins

Murphy Oil Corp.'s (NYSE:MUR) earnings in the second quarter soared 71 percent, driven by higher gas and oil prices, along with margins from motor fuel.

Earnings reached $272.3 million for the quarter, or $1.41 a share, against the $158.8 million, or 83 cents a share, in the same quarter last year.
Analysts had estimated earnings of $1.21 a share.

Revenue increased to $5.59 billion, up from the $4.56 billion in last year's second quarter. That was below analysts' expectations, who were looking for $6.36 billion.

Average oil production on a daily basis globally was 189,951 barrels of oil equivalent, an improvement of 33 percent over last year.

Guidance for the third quarter was for earning of $1.10 to $1.15 a share.

Murphy also announced their Board of Directors has declared a quarterly dividend increase of 10 percent, to 27.5 cents a share, equal to $1.10 annually.

Monsanto (NYSE:MON) Bumps Up Quarterly Dividend

Monsanto (NYSE:MON) announced today that its Board of Directors has increased the quarterly dividend of the company from $0.265 a share to $0.28 a common share. That's an annualized rate of $1.12.

The increase is 5.7 percent, while the dividend yields 1.9 percent.

Shareholders of record as of October 8, 2010, will receive the dividend, payable on October 29, 2010.

Monsanto has recently been served with a class action lawsuit from shareholders. Specifically it targets the herbicide products, where shareholders say they failed to disclose material adverse facts related to that segment of the company.

The suit alleges the positive statements made in relationship to the earnings of Monsanto were "misleading" and "lacking in a reasonable basis."

Peabody Energy (NYSE:BTU) Declares Quarterly Dividend on Common Stock

The Board of Directors for Peabody Energy (NYSE:BTU) declared a quarterly dividend on common stock of the company of $0.07 a share, or $0.28 on an annual basis.

It will be offered to shareholders of record as of August 6, 2010, and will be payable on August 27, 2010. The yield on the dividend is 0.6 percent.

Peabody, which is the largest private-sector coal company in the world, also had analysts at FBR Capital reiterate an "Outperform/Top Pick" rating on their shares recently, and retain a price target of $55.00 a share.

They said in a note to clients Thursday, “Yesterday, BTU reported solid 2Q10 estimates, raised its midpoint of 2010 guidance, and reiterated its view on the coal super-cycle (we call it “COALbalization”). We were positioned near the top end of guidance and are trimming estimates slightly to account for 4Q10 met coal price risk and modest U.S. steam volumes. Specifically, we are lowering our 2010–12 EBITDA estimates for BTU by an average 2% and reducing our EPS estimates by an average 8%, reflecting lower U.S. steam volumes and slight, below-expectations contracting…We are lowering our 2010 EPS/ EBITDA estimates to $3.00/$1,844M from $3.12/$1,847M…We are also lowering our 2011 EPS/ EBITDA estimates to $3.85/$2,138M from $4.29.$2,218M to reflect about 5 MT lower U.S. volumes and slightly lower pricing for Colorado coal, which got contracted during the current quarter.”

Alcoa (NYSE:AA) Declares Quarterly Dividend Again

Alcoa has paid a quarterly dividend to shareholders for over 60 years, and that tradition continued today, as the Board of Directors again declared a dividend for the aluminum producer.

This quarter a dividend of 3 cents a common share was declared for shareholders of record at the close of business on August 6, 2010, which will be payable on August 25, 2010.

A quarterly dividend will also be paid on Alcoa's $3.75 cumulative preferred stock, in that case 93.75 cents a share for shareholders of record at the close of business on September 10, 2010, and payable on October 1, 2010.

Alcoa continues to struggle as aluminum demand remains depressed, although they are projecting about a 10 percent increase in demand going forward.

Cliffs Natural Resources (NYSE:CLF) Declares Quarterly Dividend

The Board of Directors of Cliffs Natural Resources Inc. (NYSE:CLF) declared a quarterly dividend today of $0.14 a share, or $0.56 on an annual basis.

Shareholders of record on the close of business on August 13, 2010 will qualify for the dividend, which will be payable on September 13, 2010.

The cash dividend will be on the common shares of the company, and will have a yield of 1.1 percent.

Northwest Natural Gas (NYSE:NWN) Declares Quarterly Dividend

The Board of Directors of Northwest Natural Gas Company (NYSE:NWN) announced they've declared a quarterly dividend of $0.415 a common share.

On an annual basis it's $1.66, and the yield on the dividend 3.9 percent.

Shareholders of record as of July 30 will qualify for the dividend, which will be paid on August 13, 2010.

BP (NYSE:BP) Agrees to $20 Billion Escrow Fund

BP (NYSE:BP) has agreed to set aside $20 billion in order to pay for legitimate claims for those who have been affected by the Gulf oil spill.

In order to protect the company from financial strain which could do them harm and possibly keep them from fulfilling their obligations, BP will pay out $5 billion a year over four year period for claims.

Overseeing the fund will be Kenneth Feinberg, which will include a panel of three people who will mediate any disputes that arise.

BP also agreed to suspend their dividend through the third quarter, which basically gives investors and shareholders a better overall picture of the liabilities the company will face over the next several years, although that is sure to rise beyond the money already on the table.

Why BP (NYSE:BP) Must Reject Escrow Account

The escrow account being pressed by Obama and his Democrats is a horrible idea, and BP (NYSE:BP) needs to completely reject it, as it'll put them in position to be charged just whatever they want by the U.S. government, and then they'll still have endless bills pressed on them after that happens.

Democrats are pushing for $20 billion to launch the fund, which, while being said will be run by a third party, will obviously be a tool for Democrats to distribute what they want, how they want to who they want; the obvious reason for creating the fund in the first place.

They've already done this with bailout funds in the U.S in the auto industry, where they punished political opponents who had car dealerships, while keeping their Democrat constituents in business. That is a proven fact, and the way the thuggish Democrats operate.

The idea of BP taking over the responsibility for four of the states in the region, which this is largely coming to, is criminal in its implications, and a cynical attempt by the Democrats to crush this company, contrary to what Obama asserted to the British prime minister, whom he told he wasn't trying to do.

BP has stated from the beginning that they're more than willing to pay for any legitimate claims they owe those harmed from the accident. This escrow fund would throw that completely out as Democrats would assuredly re-distribute the money to their constituents in the name of BP paying for the oil spill; whether or not it was connected to the oil spill or not.

All they have to do is attempt to find some type of tenuous link they can then blow up into a wrong that needs to be paid for, and there you have this $20 billion waiting there for them to take to pay for the alleged wrong.

This is why the Democrats, again, are sifting through every e-mail or communication BP had in order to dredge up any type of element that makes BP look bad in the oil spill, as they're preparing to pressure them to cave to their every whim and demand to extract as much money from them as they can.

BP must understand that the Democrats will do whatever they want, whether or not they successfully shake down the company or not.

In this case BP would be right to resist them, and nothing the executives do will placate the power-mad Democrats who are so drunk with power and bailing everyone out, they can't get delivered from their addiction, and BP is just a handy scapegoat to pressure to steal billions more from.

BP needs to stick to its guns and only pay out provable claims. This is the usual Obama and Democrat trick to make it look like everyone is running out of time and something must be done immediately.

For BP to succumb to that pressure will be a mistake, as Obama and the Democrats will continue on their shake down no matter if they agree or not.

Stop it now and the clowns will be forced to shut up or reveal more of their agenda from their over-response to BP not giving into it.

There's a point where BP must say enough is enough, and that point is now. If they don't, it's highly unlikely there will be a BP in the future, as once they cave on something as important as this, it'll only be a short time until more demands are presented by Obama and the Democrats to take from the oil company.

This is why Obama and his stooges don't want BP to keep their dividend. It's not because they care one way or the other in general, it's that they have their greedy eyes on the capital of the company, which they already have plans in place to use. You can count on that. And if BP caves on the dividend as well, you'll start to see all sorts of creative and destructive assertion from Obama and the Democrats as to new things that BP will have to pay for.

BP (NYSE:BP) Bankruptcy Fears Continue

Even though tensions were slightly eased between Britain and the U.S. over the BP (NYSE:BP) oil spill, which was taking on a more personal tone and attack from Obama and the Democrats, that doesn't deal with the underlying reason for bankruptcy concerns in the first place, which was the proposals that had been accompanying the Obama rhetoric.

The Democrats and Obama want to shut down the dividend of BP, and the latest, to have them create a $20 billion special account the Democrats can get their hands on, and who knows from there who they will decide to spend in the money on.

As far as the concerns over a possible bankruptcy, that is being primarily measured by, as it relates to the markets, to the number of puts being acquired, and they are skyrocketing as the share price of BP continues to plunge.

BP shares were at $31.50, as of 12:21 PM EDT, falling $2.47, a 7.27 percent decline.

BP (NYSE:BP) Shares Drop on Dividend Uncertainty

Shares of BP (NYSE:BP) dropped again as the board of directors of the oil giant discuss today what, if anything, they're going to do about the pressure to suspend the quarterly dividend.

In what could be an attempt to pile on even more economic charges to the company, Democrats have been pushing for BP to drop their dividend until the company pays for the cleanup of the oil spill in the Gulf of Mexico.

Consensus at this time is the dividend won't be ended, but it could be deferred to a later date, put into an account for later dispersal after costs are paid, or offered in shares of the company.

BP isn't expected to make a decision any time soon.

BP’s (NYSE:BP) Debt Insurance Better

BP (NYSE:BP) caught a break on its debt on Friday, as cost for insuring their debt dropped to about 390 basis points early in the day, a big difference from surpassing 500 on Thursday.

Share price of BP rose for the second day in a row, finishing the week at $33.97 in New York, after plummeting on Wednesday.

That didn't stop traders from making heavy bets in the options market though, which was still on fire on Friday.

Trading volume was far beyond the 3-month average of 34,354.200, surging to 132,861,873 shares.

Many think BP is going to cave, possibly as early as Monday, in announcing they're going to either temporarily eliminate or cut their dividend.

Will BP (NYSE:BP) Cave on Dividend?

I hope BP (NYSE:BP) doesn't cave on the dividend issue, as the Chicago thug gang now inhabiting the White House have nothing to say about that, and to imply BP can't pay their obligations implies they're going to continue to push obligation on BP which they have no right to.

The most obvious one is the moratorium by Obama in the Gulf which is wreaking havoc on the region, and now instead of owning up to it being a huge mistake, is trying to make it look like it's because of BP, rather than his response to the oil spill.

Now Obama and his cronies are trying to push for BP to have to pay for the lost wages of workers in the area who Obama through out into the street.

While most people couldn't care less about the dividend, Obama and the Democrats, for whatever misguided reason, think they have some type of winning issue here, seemingly using similar tactics they used in the banking crisis.

Many people will be hurt by cutting the dividend, especially those regular workers whose pensions count on it.