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Goodyear Posts Third-Straight Annual Loss

admin — Thu, 10 Feb 2011 23:00:00 +0000

Filed under: Earnings Reports , Goodyear Tire and Rubber (GT) Goodyear Tire & Rubber ( GT ), North America’s largest tire maker, posted losses in the forth quarter and for the year. This marks the third-straight annual loss. To stave off further deterioration, the company is closing its Tennessee plant. In 2009, union negotiations left the plant unprotected, meaning that it could be closed at the company’s discretion. Continue reading Goodyear Posts Third-Straight Annual Loss Goodyear Posts Third-Straight Annual Loss originally appeared on BloggingStocks on Thu, 10 Feb 2011 11:00:00 EST. Please see our terms for use of feeds . Permalink �|� Email this �|� Comments

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Goodyear Posts Third-Straight Annual Loss

Ericsson (NASDAQ:ERIC) Earnings Limited Even with Sales Growth

admin — Tue, 25 Jan 2011 02:57:00 +0000

While Ericsson (NASDAQ:ERIC) sales are expected to surge in 2011, the emerging markets that growth will occur in will have limited earnings potential because of lower margins. Canaccord says, “We believe Ericsson is well positioned for solid 2011 sales, as our carrier capex survey indicated solid wireless trends in 2011 driven by new 4G network builds in North America and 3G builds in developing

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Ericsson (NASDAQ:ERIC) Earnings Limited Even with Sales Growth

Converge Global Inc. (CVRG.PK) is “One to Watch”

admin — Mon, 11 Oct 2010 15:16:56 +0000

Converge Global, Inc., a junior mining company, engages in the acquisition, exploration and development of mining properties in North America containing principally gold as well as other precious metals. Their strategy is to maximize shareholder value through aggressive acquisitions of exploration properties in politically stable and secure regions that maintain mining-friendly policies and administrations. The

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Converge Global Inc. (CVRG.PK) is “One to Watch”

Fragging Your Own Money

admin — Fri, 01 Oct 2010 20:00:46 +0000

“Monetary warfare!” says The Financial Times. In North America, the US is pointing its heavy guns at China… The US Congress has proposed a bill naming China as a “currency manipulator.” How, exactly, is China manipulating the renminbi? It is holding steadfast to the dollar! This, says US Speaker of the House, Nancy Pelosi, “translates Fragging Your Own Money originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”

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Fragging Your Own Money

New Dividend Stocks Added to Database (PRI, QEP)

admin — Wed, 11 Aug 2010 22:07:47 +0000

We are adding shares of Primerica, Inc. ( PRI ) and QEP Resources ( QEP ) to our database of nearly 1600 dividend-paying stocks on news the companies have initiated dividend payouts. Primerica, Inc. ( PRI ) – this company is a leading distributor of financial products to middle income households in North America with approximately 100,000 licensed representatives. The company and its representatives offer clients term life insurance, mutual funds, variable annuities and other financial products. Primerica insures 4.3 million lives and more than 2 million clients maintain investment accounts with the company. Primerica’s mission is to serve middle income families by helping them make informed financial decisions and providing them with the strategies and means to gain financial independence. QEP Resources ( QEP ) – this company is a leading independent natural gas and oil exploration and production company with operations focused in the Rocky Mountain and Midcontinent regions of the United States. QEP Resources also gathers, compresses, treats, processes and stores natural gas. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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New Dividend Stocks Added to Database (PRI, QEP)

Neutral on Cognizant – Analyst Blog

admin — Wed, 02 Jun 2010 22:26:58 +0000

We recently reiterated our Neutral rating on Cognizant Technology Solutions ( CTSH ). Earlier this month, Cognizant reported results for the first quarter, beating the Street’s expectations. Growth in the first quarter came from all geographies, but North America in particular was quite strong. Recovery was also strong in the United Kingdom, whereas other countries in Europe have been experiencing slower economic recoveries and a negative impact from weaker currencies. Net income came in at $151.5 million or 49 cents per share, compared to net income of $113.1 million or 38 cents per share in the previous quarter. This beat the Zacks Consensus Estimate by a penny. Management increased its guidance for 2010 on the backdrop of an improving macroeconomic environment. In 2009, the company made significant investments in new areas, including consulting and emerging markets, new solutions such as enterprise analytics, and new technologies such as cloud and mobile computing. For 2010, Cognizant expects revenues of at least $4.1 billion, up from the previous estimate of $3.935 billion, and an increase of 25% from 2009. As the economy begins to recover, many companies start investing more in development projects rather than just maintenance projects. Moreover, many companies are increasingly opting for offshoring services beyond the traditional IT sourcing, namely BPO (Business Process Outsourcing), KPO (Knowledge Process Outsourcing) and IT infrastructure services. Though there is an element of uncertainty about the level of new economic activity in key markets, Cognizant believes “offshoring” will constitute a large proportion of its IT budget compared to 2009. Given the early

Earnings Scorecard: Praxair – Analyst Blog

admin — Fri, 21 May 2010 23:20:10 +0000

The overall sentiment for Praxair ( PX ) shares has been positive following its earnings release late last month, fueled largely by improving global business fundamentals and management’s robust guidance. The company forecasted second-quarter 2010 earnings of $1.10-$1.15 and raised the full year earnings guidance to between $4.42 and $4.57. The adjusted earnings guidance range is $4.50 to $4.65, versus the previous range of $4.43-$4.63 and the Zacks Consensus Estimate of $4.64. Earnings Review As reported by Praxair, adjusted net income in the first quarter of 2010 was $340.0 million, or $1.09 per diluted share, reflecting an increase of 17.0% from $290.0 million, or 93 cents in the year-ago quarter. Improved year-over-year results were due to higher revenues. The quarter’s earnings of $1.09 per diluted share were in line with the Zacks Consensus Estimate. Considering the top line in the first quarter of 2010, total revenue increased 14.0% to $2,428.0 million from $2,123.0 million in the year-ago quarter. Growth stemmed from an improvement in fundamentals globally and higher volumes across all geographic regions and end markets, especially from sales to chemicals, metals and electronics customers. Also, currency appreciation during the quarter contributed 7.0% to the year- over- year growth. Detailed discussion of the earnings release can be found here: Praxair Reports within Expectations. Agreement of Analysts Analysts covering the stock have been overall in agreement in raising their earnings estimates following the earnings release. As the chart below shows, there is a clear majority of analysts who have raised their estimates for the company in the last 30 days. This high level of agreement among covering analysts primarily reflects expectations of volume recovery in all end markets and optimism regarding continued growth improvement in North America and Europe. Also, interest expense is expected to decline as Praxair has reduced international bank borrowings and lower effective interest rate. Negative revisions reflect analysts’ concerns over slower growth in North America and Europe relative to others. Magnitude of Estimate Revisions While the direction of estimate revisions has been positive and favorable, the magnitude of those revisions has been less than impressive. As the chart below shows, the revisions to earnings estimates, both this year as well as next, have been very modest. Neutral Reiterated Praxair remains a well managed company in the industrial gas production market. It remains well positioned for continued demand growth from reviving economic conditions and specific company programs and investments. In the first quarter of 2010, Praxair’s capital expenditure of roughly $288.0 million was primarily used for new production plants under long-term contracts with customers. Praxair currently has 38 projects and roughly $2.0 billion of investment in progress, with two projects in South America and two projects in India; added during the first quarter of 2010. Praxair is experiencing significant business-development opportunity in Brazil, China, India

Ventas FFO Soars – Analyst Blog

admin — Wed, 28 Apr 2010 17:06:18 +0000

Ventas Inc. ( VTR ), a leading healthcare real estate investment trust (REIT), reported first quarter 2010 recurring funds from operations (FFO) of $105.2 million or 67 cents per share, compared to $95.7 million or 67 cents per share in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and other non-cash expenses to net income. The increase in year-over-year FFO was primarily due to rental increases from its triple-net lease portfolio, higher Net Operating Income (NOI) from its senior living and medical office building (MOB) operating portfolios, and lower interest expense, partially offset by higher weighted average diluted shares outstanding during the quarter. Ventas currently has an operating portfolio of 79 senior housing communities in North America that are managed by Sunrise Senior Living Inc. ( SRZ ). In about 19 of these, Ventas has 100% ownership stake, while in the remaining 60 communities Ventas has a partnership share of 75% to 85% with the balance being owned by Sunrise. During the quarter, NOI from all 79 properties was $33.8 million compared to $30.5 million in the year-ago period.   During the quarter, Ventas invested $27.7 million, and decided to sell 5 senior housing properties for $25 million. Since the beginning of the year, the company has received $235 million of commitments for additional credit capacity under its revolving credit facilities. Consequently, Ventas has increased its revolving credit facility to $1 billion. At quarter end, Ventas had $961.8 million available under its revolving credit facility, and $132.7 million of cash and short-term cash investments. The company’s debt to total capitalization at quarter end was approximately 27% with net debt to adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) being 4.1x.   For full year 2010, Ventas has reiterated its earlier recurring FFO guidance in the range of $2.69 to $2.75 per share. Read the full analyst report on “VTR” Read the full analyst report on “SRZ” Zacks Investment Research

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The Hottest Domestic Oil Play in Decades

admin — Wed, 28 Apr 2010 16:42:41 +0000

April 2010 will go down in energy history as the month Peak Oil reemerged on the periphery of the mainstream media. Within a week of each other, two sobering reports were released about the tenuous state of the global oil market. On April 11, the U.S. Joint Forces Command released a report stating “by 2012, surplus oil production capacity could entirely disappear, and as early as 2015, the shortfall in output could reach nearly 10 million barrels per day.” To give you an idea of how devastating that would be to oil prices and for the world economy, 10 million barrels is what Saudi Arabia produces each day . Advertisement Make 171% as New Gov’t Agency Seizes Power Grid Stronger and more feared than the IRS, FBI — even the U.S. Department of Homeland Security… This radical jack-booted agency has one single mission: to enforce new energy policies. With a budget of $30 billion, this powerful shadow-branch is systematically eradicating old energy technologies and awarding lucrative contracts to companies of their choice. Luckily, we know the companies about to get the dough… making their shareholders a fortune. It’s all in this new report. So if the military’s report is correct, that would mean that daily oil production equivalent to that of Saudi Arabia would disappear off the market. Now let me ask you this: What do you think would happen to oil prices if Saudi Arabia’s crude stopped flowing tomorrow? You got that right! Prices would skyrocket�— $300 a barrel at minimum, maybe even $500 a barrel. There would be riots in the streets. Citizens and governments alike would hoard the black gold like there was no tomorrow. In the end, oil would go to the highest bidder: China and the U.S. Based on this report, the U.S. military predicts that the price of oil would shoot to $100 a barrel. But we already saw oil at $147 a barrel in the summer of 2008, and there wasn’t a supply shortfall during that spike. So $100 a barrel on a 10-million-barrel-per-day shortfall is wildly optimistic. In fact, I would call it fantasy . But there’s more to this story… You see, as soon as I read the report from the U.S. military, I immediately doubled all of my positions in junior oil stocks and in oil and gas trusts. It’s my biggest sector position. In fact the last time I put that much cash to work in oil stocks was in December 2008. But there’s a huge difference between December 08 and now… As you may recall, the world was enduring a gut-wrenching financial crisis in December 2008. The market was getting crushed. Investors were dumping everything, and oil got as low as $33 a barrel. So I stepped in and purchased oil stocks that were selling at fire sale prices. I’ll be the first to admit that I got lucky. My brain was telling me to be brave and buy… but my stomach was is knots. I was a nervous wreck. Fortunately it worked out. But my point is that I was following the aged-old market rule to buy when others are fearful. I almost didn’t care about fundamentals. I was buying oil stocks that other investors were selling for any price they could get. Today, however, I’m buying based on a potential supply-demand imbalance that could be of epic proportions. You see, in addition to the U.S. military’s warning of a coming supply shortfall, the International Energy Agency (IEA) released a report revising oil demand upwards for 2010. In its April 13 report, the…

Whirlpool Profits More than Triple – Analyst Blog

admin — Mon, 26 Apr 2010 18:28:00 +0000

Whirlpool Corporation ( WHR ) revealed a more than threefold increase in profit to $2.51 per share (before special items) in the first quarter, compared to 73 cents (before special items) a year ago. The manufacturer of home appliances also outperformed the Zacks Consensus Estimate of $1.30 per share. Sales in the quarter rose 20% to $4.3 billion. Excluding the impact of foreign exchange translation, the increase was 11%. Unit shipments increased 18% globally. The adjusted operating profit went up to $287 million from $126 million in the previous year. The improvement in results was due to an increase in unit shipments, cost reduction actions and initiatives to enhance productivity. These favorable factors were partially offset by a lower product price/mix. Whirlpool raised its earnings per share guidance to $8.00–$8.50 for full year 2010, compared to its prior guidance of $6.50–$7.00. Regional Performance Sales in North America rose 7% to $2.3 billion. Excluding the impact of foreign exchange translation, sales increased 5%. Unit shipments rose 11% in the region. The adjusted operating profit increased to $140 million from $100 million in the prior year. The company expects industry unit shipments for full year 2010 to increase 3%–5%, compared to the previous guidance of 2%–4%. Sales in Europe inched higher by 6% to $739 million. However, sales decreased 2% excluding the currency effects. Unit shipments were flat compared to the previous year. The adjusted operating profit was $27 million, compared to the breakeven results in the year-ago period. The company anticipates industry European unit shipments for full year 2010 to be flat compared to year-ago levels. Sales in Latin America shot up 65% to $1.1 billion. Excluding the currency impacts, sales increased 40%. Adjusted operating profit increased to $167 million from $83 million in the prior year quarter. The company expects industry shipments of Brazilian appliance in the region to increase 10% for full year 2010, compared to the previous outlook

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DSM announces management changes in North America

admin — Mon, 19 Apr 2010 14:36:01 +0000

AMSTERDAM, April 19 – Koninklijke DSM NV says: * Hugh C. Welsh, 43, will be appointed as President of DSM North America effective October 1 * Alexander Wessels, 46, has been appointed as President and CEO of DSM Pharmaceutical Products dsm no DSM announces management changes in North America

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DSM announces management changes in North America

Smith Int’l Wins Chevron Contract – Analyst Blog

admin — Fri, 16 Apr 2010 20:40:05 +0000

Smith International Inc. ( SII ) has been awarded a significant multi-service contract by Cabinda Gulf Oil Company Limited, a subsidiary of Chevron Corporation ( CVX ). The contract is entrusted to one of the three reportable segments of Smith − M-I SWACO. The M-I SWACO segment is a 60/40 joint venture with Schlumberger ( SLB ), providing drilling and completion fluid system, engineering and technical services to the oil and gas industry. In addition, these operations provide oilfield production chemicals, besides manufacturing and marketing equipment and services required for solids control, particle separation, pressure control, rig instrumentation and waste management. The contract has a term of six years and is expected to start operating in June this year, with an anticipated revenue of $800 million. The contract provides an option for the extension of two more years and includes drilling and completion fluids, drilling waste management, filtration, wellbore clean up tools and vessel cleaning and related services. While this contract is one of the largest individual multi-service contracts throughout West Africa, it also affirms the excellent customer service and product performance that M-I SWACO continues to provide to customers. M-I SWACO is still in a solid position in Smith’s revenue mix. In 2009, it alone generated more than 50% of the company’s total revenue. Although a significant portion of the company’s consolidated revenue (48% in 2009) was generated in North America, Smith’s profitability was driven in a large part by the business levels in international markets and offshore activity levels. This latest contract is a case in point. Read the full analyst report on “SII” Read the full analyst report on “CVX” Read the full analyst report on “SLB” Zacks Investment Research

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Smith Int’l Wins Chevron Contract – Analyst Blog