August 18, 2016

Hampton Creek, last discussed here on August 4 may have bought itself a world of trouble:

The U.S. Securities and Exchange Commission is looking into whether a San Francisco-based food technology startup broke the law by not disclosing that it was buying its own vegan mayonnaise from stores, which made the product appear to be more successful than it was, according to people familiar with the matter.

The agency is trying to determine whether Josh Tetrick’s Hampton Creek Inc. improperly recognized revenue from purchases made with company money, said the people, who asked not to be named because the matter isn’t public. The opening of an SEC inquiry into the buybacks is a preliminary step and doesn’t mean the company will face an enforcement action.

In drone news, Intel touts a drone platform:

Intel Corporation today announced its involvement in the development of multiple best-in-class unmanned aerial vehicles (UAVs), commonly called drones, showcasing how they interact with their environment, solve problems and thrill users by helping them explore and interact with their worlds unlike ever before.

Intel® Aero Platform for UAVs

Intel’s® Aero Platform is available today for developers to build their own drones. This purpose-built, UAV developer kit powered by an Intel® Atom™ quad-core processor combines compute, storage, communications and flexible I/O all in a form factor the size of a standard playing card. When matched with the optional Vision Accessory Kit, developers will have tremendous opportunities to launch sophisticated drone applications into the sky. Aero supports several “plug and play” options, including a flight controller with Dronecode PX4 software, Intel® RealSense™ technology for vision, AirMap SDK for airspace services, and will support LTE for communications. The Intel Aero Platform is available for pre-order now on click.intel.com – the Intel Aero compute board is $399, the Intel Aero Vision Accessory Kit is $149, and the Intel Aero Enclosure Kit is $69. A separate Intel Aero Platform Ready-to-Fly Drone will be available in Q4.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.1235 % 1,707.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1235 % 3,118.6
Floater 4.81 % 4.51 % 80,217 16.24 4 0.1235 % 1,797.3
OpRet 4.85 % -10.66 % 60,446 0.08 1 -0.0395 % 2,880.4
SplitShare 5.07 % 4.36 % 111,611 2.27 5 0.5235 % 3,429.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.5235 % 2,675.7
Perpetual-Premium 5.44 % -9.55 % 75,450 0.09 12 -0.0612 % 2,704.4
Perpetual-Discount 5.10 % 4.96 % 109,581 15.00 26 -0.2936 % 2,914.0
FixedReset 4.89 % 4.07 % 148,535 7.13 89 -0.0800 % 2,088.6
Deemed-Retractible 4.97 % 1.95 % 120,007 0.27 32 -0.0252 % 2,808.9
FloatingReset 2.88 % 4.07 % 33,798 5.09 11 -0.0287 % 2,204.1
Performance Highlights
Issue Index Change Notes
BAM.PR.S FloatingReset -2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 4.87 %
PWF.PR.P FixedReset -2.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 13.76
Evaluated at bid price : 13.76
Bid-YTW : 4.04 %
TRP.PR.E FixedReset -1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 18.92
Evaluated at bid price : 18.92
Bid-YTW : 4.19 %
PWF.PR.S Perpetual-Discount -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 23.26
Evaluated at bid price : 23.65
Bid-YTW : 5.10 %
IAG.PR.G FixedReset -1.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.53
Bid-YTW : 6.41 %
HSE.PR.A FixedReset -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 12.57
Evaluated at bid price : 12.57
Bid-YTW : 4.71 %
PVS.PR.D SplitShare 1.14 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 24.76
Bid-YTW : 4.69 %
TRP.PR.F FloatingReset 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 13.97
Evaluated at bid price : 13.97
Bid-YTW : 4.40 %
Volume Highlights
Issue Index Shares
Traded
Notes
BIP.PR.C FixedReset 182,860 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-09-30
Maturity Price : 25.00
Evaluated at bid price : 25.37
Bid-YTW : 5.11 %
VNR.PR.A FixedReset 149,255 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 4.69 %
BNS.PR.E FixedReset 131,342 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-25
Maturity Price : 25.00
Evaluated at bid price : 26.87
Bid-YTW : 3.84 %
TD.PF.C FixedReset 67,650 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 3.96 %
RY.PR.H FixedReset 57,055 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 19.27
Evaluated at bid price : 19.27
Bid-YTW : 3.91 %
BNS.PR.Q FixedReset 49,300 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.32
Bid-YTW : 3.44 %
There were 29 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
FTS.PR.F Perpetual-Discount Quote: 24.78 – 25.23
Spot Rate : 0.4500
Average : 0.2942

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 24.53
Evaluated at bid price : 24.78
Bid-YTW : 4.95 %

PWF.PR.S Perpetual-Discount Quote: 23.65 – 24.00
Spot Rate : 0.3500
Average : 0.2359

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-08-18
Maturity Price : 23.26
Evaluated at bid price : 23.65
Bid-YTW : 5.10 %

W.PR.K FixedReset Quote: 25.95 – 26.25
Spot Rate : 0.3000
Average : 0.1864

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-01-15
Maturity Price : 25.00
Evaluated at bid price : 25.95
Bid-YTW : 4.44 %

TD.PR.S FixedReset Quote: 23.83 – 24.19
Spot Rate : 0.3600
Average : 0.2638

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.83
Bid-YTW : 3.62 %

BMO.PR.M FixedReset Quote: 24.00 – 24.35
Spot Rate : 0.3500
Average : 0.2739

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.00
Bid-YTW : 3.48 %

BNS.PR.Z FixedReset Quote: 20.39 – 20.60
Spot Rate : 0.2100
Average : 0.1415

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.39
Bid-YTW : 6.11 %

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