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It's time to let you in on a dirty little secret: You may not own the stock you own. That's right, if you invest with a brokerage firm, the shares you bought are almost certainly not held in your name. Technically, they're held in the name of the Wall Street firm you do business with, hence the term "street name."
No, you haven't been robbed. Ultimately, the decision to hold shares on the books under a different name doesn't affect the economic ramifications for you. You¿re listed as the "beneficial owner," even though the firm is the official owner of the shares. But, you are giving up some rights, and investors concerned about good corporate governance might want to get that stock back in their own names.
Here's the problem: If your stock is technically owned by, say, Merrill Lynch, then Merrill Lynch gets to do things with it that might work against your wishes. Take short selling. Investors who want to sell shares short need to first borrow those shares. The lenders are often the big Wall Street firms that are handing out Street-name shares. So, if you feel that a company you own is a victim of aggressive short selling, chances are your own shares are being used to fuel the shorting.
Also, your brokerage firm can cast ballots on some corporate matters affecting a company without getting your input. Technically, this can only happen in votes considered ¿routine¿ by securities regulators. But, there's a big catch: some big events, like board elections, are considered "routine" under law.
The good news is that you can easily fix the Street name problem: Just request that your brokerage firm makes you the listed owner of the shares. If they refuse, find a new firm.
Home / Markets / Industries / Technology
Friday, July 18, 2008
Next Inning Technology Updates Outlooks for National Semiconductor, International Rectifier, Zoran, and ARM Holdings
Comtex
PRINCETON, N.J., July 18, 2008 /PRNewswire via COMTEX/ ----Next Inning Technology Research (http://www.nextinning.com), a subscription service focused on semiconductor and technology stocks, announced it has updated outlooks for National Semiconductor (NYSE: NSM), International Rectifier (NYSE: IRF), Zoran (Nasdaq: ZRAN) and ARM Holdings (Nasdaq: ARMH).
In a series of reports released in March, Editor Paul McWilliams advised readers it was time to buy specific tech stocks. His selections went up considerably with one very near doubling. However, in May and early June, he warned readers it was time to take some profits and prepare for the summer swoon he saw coming. Now that tech stocks have taken a significant hit, is it time to start buying again? Click to read his updated thoughts and enjoy a 21-day free trial of Next Inning:
https://www.nextinning.com/subscribe/index.php?refer=prn691
In his State of Tech report, McWilliams wrote: "The biggest medium- to long-term threat I see for National Semi is its substantial exposure to the handset market. While this has worked in National Semi's favor for some time and will likely produce favorable results for the next year, I think there are two trends that will present challenges beyond that..."
McWilliams also looks at these topics:
-- What challenges are facing National in the longer term? Does McWilliams see upside for investors?
-- What are the key elements of International Rectifier's accounting saga? Does the stock still have turnaround potential?
-- Does McWilliams think the fears surrounding Zoran are rational?
-- After advising readers to avoid ARM Holdings last year at $9, McWilliams wrote last month it was a buy at $5. With the stock now up 20%, does he have an exit plan?
Founded in September 2002, Next Inning's model portfolio has returned 232% since its inception versus 79% for the NASDAQ.
About Next Inning:
Next Inning is a subscription financial newsletter focused on technology stocks. Editor Paul McWilliams is a 20+-year industry veteran.
NOTE: This release was published by Indie Research Advisors, LLC, a registered investment advisor with CRD #131926. Interested parties may visit adviserinfo.sec.gov for additional information. Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
CONTACT: Marcie Martin Next Inning Technology Research, +1-888-278-5515
SOURCE Indie Research Advisors, LLC
http://www.nextinning.com
Copyright (C) 2008 PR Newswire. All rights reserved ********************************************************************** As of Monday, 07-14-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 06-20-2008 for IRF @ $22.55. As of Monday, 07-14-2008 23:59, the latest Comtex SmarTrend Alert, an automated pattern recognition system, indicated a DOWNTREND on 06-26-2008 for NSM @ $20.85. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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