Hot News: Greenlight Capital Re, Spirit Airlines, Allot, Clear Channel Outdoor Holdings

Lakeway, TX -- (SBWIRE) -- 02/20/2013 -- Bestdamnpennystocks, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Greenlight Capital Re (GLRE -0.9%) slides after a Q4 loss of $1.65/share - losses came from both underwriting and the investment portfolio. Book value of $22.01/share, -6.6% Q/Q, +1.9% Y/Y. "The reinsurance market remained challenging during 2012. In general, the market remains overcapitalized and there is a high degree of competition."

Greenlight Re (GLRE) earnings call: Einhorn takes advantage of solid January gains in the investment portfolio, lowering net long exposure to 29% from 39%. "Earnings growth has come to a halt. As the markets continue to advance even as the economy doesn't, we tend to become less enthusiastic."

How Should Investors Trade GLRE After The Recent Movement? Find Out Here

Spirit Airlines (SAVE +1%) CEO says the mega-merger between American Airlines (AAMRQ.PK) and US Airways LCC will stabilize the industry and provide an opportunity for smaller carriers such as Spirit to grow as its fares look more competitive. What he didn't say: In the long run, the wave of airline consolidation could also create a market gap which brings in new low-fare players.

PetroChina (PTR) will buy stakes in two Western Australia exploration assets from ConocoPhillips (COP) for an undisclosed amount, and the two companies plan to jointly study shale gas development in China. The deal comes after PTR agreed in December to buy BHP Billiton's holding in Woodside Petroleum’s proposed Browse liquefied natural gas project in Western Australia.

Is SAVE Strong Buy After The Recent Strong Gains? Get Free Trend Analysis Here

Allot (ALLT +5.8%) rallies after announcing major Indian carrier Tata Communications plans to use its Service Gateway platform to provide hosted policy enforcement services for its mobile carrier clients. Allot shares haven't fared well in recent months.

Is ALLT a Buying Opportunity After The Recent Plunge? Don’t Miss Out Our Latest Report Here

Clear Channel Outdoor Holdings (CCO +0.4%) CFO Tom Casey might be the latest exec to catch REIT fever, according to dealReporter. During last night's earnings conference call (transcript), Casey called the REIT idea an "interesting development" which will be looked at by the company.

How Should Investors Trade CCO After The Latest Earnings Report? Find Out Here

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