Tuesday, May 9

Pre-Market – Pattern Energy Group (PEGI) posted Q1 results today with an earnings beat. While they missed revenue by 1% they are up almost 5% in morning extended hours trading.

Post-Market – Pattern Energy Group gave back some of their early gains, but still ended the day up 2%. Dividends for next quarter have been raised by 1%.

Markets were mixed again today, with crude’s continued fall offset by gains in the technology sector. The NASDAQ closed at another record high, up another 0.3% from yesterday’s close.

Our portfolio saw moderate losses as FTR/PR took another dip on limited trading volume throughout the day. We are continuing to monitor that position, but conditions still seem good for long term profitability from the preferred shares. We also doubled our optioned position in PBR today as news filtered into US markets after a judge cleared Petrobras of any wrongdoing in a bribery case. We still may close the position before taking the risk of waiting for the earnings report, but we expect moderate appreciation before that release.

Treasury Yields rose today, and the dollar gained slightly despite strong earnings reports out of Germany and a strong European trade session.

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