E Correcting Barron's And Loving Lazard

*Mercado Libre fell 1.73% today as it will announce its results tonight. The drop led Parallel Advisors, Wespac Advisors, and Venturi Wealth Mgm to buy MELI shares. However Acorn Fiancial Advisory sold its stake down by 2.2.%. Zacks, rating it hold, estimates MELI will report sales of $1.23 bn, up 82% from last Q3. For the full year the forecast is sales of $3.83-3.96 bn. However, it probably will remain in the red on profits. SAN rates it a buy and JP Morgan rates it overweight with a TP of $1640. MELI rose 136.62% last week to $1918.13. How about a stock split?

*Tomra Systems of Norway maker of reverse vending and sorting machines, rose 3.6% to $48.08 today. TMRAY.

Other sectors

*Veolia was barred by a French court from making a tender offer to all owners of Suez stock after Suez complained. However, VEOEY's CEO Antoine Frerot says the $18/sh (euros21.69) offer is still valid and legal. It is the same as the price paid last year to Engie for 29.9% of Suez. French Finance Minister Bruno Le Maire triggered the ban, saying “Veolia's offer isn't friendly and runs contrary to commitments it made.”

*Weyerhaeuser, a fund invested in forests, made a new high, up 1.34% to $34.87. WY.


*Sumitomo Mitsui Financial Group SMFG gained 3.83%. Mitsubishi rose 3.3% MSBHF.

*Banco Santander rose 2.7%. SAN.

*After fund manager Lazard was tipped in Barron's, the parent company rose, and its closed-end fund Lazard Global Return Income Fund LGI, up 52% in the last 12 months, fell back. I like being able to buy venerable stock-picking prowess at a discount, and prefer the fund to the French Lazard Frères, which actually was founded in New Orleans when Louisiana was French. It does financial advice and asset management and I want to get that on the cheap.

*The Bank of Nova Scotia's dividend is 5.11% in loonies which may rise against the buck. BNS.

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