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Two Winners in Today's Wreckage



May 06, 2014 – Comments (2) | RELATED TICKERS: NNBR , MMP

Most of my portfolio followed the market into the red today, but two highlights snuck in.

First up, NN, Inc. (NNBR), a little bearing and precision machinery manufacturer.  The company had a nice earnings report today and the market bid it up 9% to a new 52-week high.  That also made the second time I'm aware of that NNBR delivered a spiffy-pop for me.  "Spiffy-pop" is a term created by TMF for when a stock gains more in one day than you paid for it.  I only have a very small position left in the stock - bought it near the 2009 lows, sold some a few months later to lock in profits and hung on to the rest as trophy shares.

Next up, Magellan Midstream (MMP) also had a nice gain on earnings today and clocked a new 52-week high.   The pipeline partnership crushed estimates and raised guidance for distributable cash flow.  Tyler Crowe recently published a nice rundown of MMP; it's good reading for anyone considering investing in MMP or master limited partnerships in general.

IMHO, both NNBR and MMP are a little on the pricey side right now.  I'm not selling, but not adding to the postions either.  Then again, most stocks seem a little on the pricey side right now - probably because bonds are even more expensive. 

Sorry, no haiku for the new highs this time.

Fool on!  Russ

2 Comments – Post Your Own

#1) On May 06, 2014 at 11:29 PM, HarryCaraysGhost (68.06) wrote:

What! no haiku,

thats outrageous, salacious.... preposterous.

Grats man. 

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#2) On May 07, 2014 at 2:44 PM, awallejr (28.16) wrote:

I still am a big fan of the mlp space. The ones I hold (WPZ, BBEP, RGP and MMLP) are at or near 52 week highs with the exception of MMLP which I have owned since 2009. They are doing a secondary today so there is a good entry position for people.

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