Monday, August 9, 2010

Daily Markets - Earnings Scorecard: Newmont Mining

Daily Markets

Daily Markets - Earnings Scorecard: Newmont Mining

Earnings Scorecard: Newmont Mining

Posted: 09 Aug 2010 03:35 PM PDT

Newmont Mining Corporation (NYSE:NEM) reported its earnings for the second quarter of 2010 on July 28, 2010, missing the Zacks Consensus Estimate by 10 cents per share. Analysts have a mixed opinion on the stock given the company's impressive year over year results, yet missing estimates.
 
Second Quarter Review
 
Mining giant Newmont Mining Corporation's second quarter earnings (excluding extraordinary charges) of $377 million or 77 cents per share fell short of the Zacks Consensus … [visit site to read more]

Supply Shock May Caffeinate Coffee ETFs

Posted: 09 Aug 2010 03:17 PM PDT

As the demand for coffee continues to remain insatiable, an imbalance in supply and demand is likely to bolster the price of the soft commodity.
Over the past two decades, the cumulative net deficit for coffee have been satisfied by Brazil's buffer supply, however, as this supply depletes, there just may not be enough coffee around the world to satisfy demand.  Additionally, reserves held by private roasters are starting to dwindle down as well, as that they are near record lows in terms … [visit site to read more]

Earnings Scorecard: Talisman Energy

Posted: 09 Aug 2010 03:05 PM PDT

Late last month, Canadian energy explorer Talisman Energy Inc. (NYSE:TLM) announced its financial results for the second quarter ended June 30, 2010.
 
Now that the Wall Street analysts have had some time to digest the quarterly performance of Talisman, they are weighing in with their estimate revisions. Below we cover the results of the recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for the outlook for the stock.
 
Earnings Review
 
On July … [visit site to read more]

TransDigm To Acquire Semco

Posted: 09 Aug 2010 03:05 PM PDT

TransDigm Group Inc. (NYSE:TDG) has announced an all-cash deal to purchase the outstanding equity shares of Semco Instruments Inc. for $73.5 million. The transaction is expected to close in the fourth quarter of 2010 after meeting customary closing conditions.
 
Semco, which has manufacturing bases in California and Mexico, designs and builds precision components for turbo-prop, turbo-fan, and turbo-shaft aircraft engine providers. It makes sensors, thermocouples and other products for ERJ … [visit site to read more]

Earnings Scorecard: Ventas

Posted: 09 Aug 2010 03:05 PM PDT

Ventas Inc. (NYSE:VTR), a leading health care real estate investment trust (REIT), reported fiscal 2010 second quarter recurring fund from operations (FFO) of 71 cents per share, which exceeded the Zacks Consensus Estimate by 2 cents. Fund from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. We cover below the results of the recent earnings announcement, subsequent analyst … [visit site to read more]

Earnings Scorecard: Qualcomm Inc.

Posted: 09 Aug 2010 02:35 PM PDT

Qualcomm Inc. (NASDAQ:QCOM) reported solid earnings results for the third quarter of 2010, beating the Zacks Consensus Estimate by 3 cents per share. Overall, analysts are bullish on the stock, given the company's impressive results.

Qualcomm benefited from a significant surge in demand for high-end 3G smartphones, premier technology, solid MSM chipset shipments, an extremely healthy balance sheet and strong execution. Management is now more confident about the rest of fiscal 2010 and as a … [visit site to read more]

BofA Projects $1.4B Legal Charges

Posted: 09 Aug 2010 02:35 PM PDT

Bank of America Corp. (NYSE:BAC) estimated pending litigation losses to soar up to $1.4 billion, according to its recent filing of second quarter 2010 results with the Securities and Exchange Commission (SEC).
 
Since the beginning of the financial crisis in 2008, BofA has been dragged into a number of lawsuits. The company approximates outstanding litigation charges to range from $250 million to $1.4 billion.
 
Predicting the outcome of litigation and regulatory matters is mostly … [visit site to read more]

Total System Upgraded To Neutral

Posted: 09 Aug 2010 02:35 PM PDT

Given the current sustainability factor, we have upgraded our recommendation for Total System Services Inc. (NYSE:TSS) from Underperform to Neutral. This was also based on overall stability that improved client activity and lower-than-expected margin decline due to the First National Merchant Solutions LLC (FNMS) deal.

The company's second quarter earnings of 25 cents came in a couple of cents ahead of the Zacks Consensus Estimate. Growth from merchant services and transaction volume was … [visit site to read more]

Dover Hikes Dividend Again

Posted: 09 Aug 2010 02:05 PM PDT

Dover Corp. (NYSE:DOV) upped its quarterly dividend by 1.5 cents to 27.5 cents. This marks the fifty-fifth consecutive year of the company's dividend hike and translates to a 6% increase from the prior dividend of 26 cents. The increased dividend will be paid on September 15, 2010, to stockholders of record as on August 31, 2010.

The company's dividend hikes for fifty five years in a row is the fourth longest record of consecutive annual dividend increases amongst all listed companies. The … [visit site to read more]

Caterpillar Expands In N. Carolina

Posted: 09 Aug 2010 02:05 PM PDT

In order to meet increased global demand for its skid steer, compact track and multi-terrain loaders, Caterpillar Inc. (NYSE:CAT) announced plans to expand its Compact Construction Equipment operations in Sanford, North Carolina.
 
Caterpillar plans to begin construction on the facility in September 2010 and expects to commission in July 2011. The total workforce will reach 750, when the plant adds 325 workers over a five-year time span.
 
The company's expansion plans include the … [visit site to read more]

Monsanto Upgraded To Neutral

Posted: 09 Aug 2010 02:05 PM PDT

We upgrade our recommendation on Monsanto Company (NYSE:MON) from Underperform to Neutral based on our optimism on the higher production of SmartStax corn seeds.

SmartStax, which is planted on 3 million acres out of a total of 32 million acres, is expected to cover 15 million acres in fiscal 2011 and additional 9 million acres in fiscal 2012. This increased production will significantly improve top-line results as corn seeds and traits contributed 45% of the total revenue in the nine months ended … [visit site to read more]

Citi Lifts Long-Term Debt Estimates

Posted: 09 Aug 2010 02:05 PM PDT

Citigroup Inc. (NYSE:C) has raised its estimates of long-term debts for full year 2010, according to a recent second quarter 2010 results filing with the Securities and Exchange Commission. This comes as part of Citi's efforts to strengthen its structural liquidity and extend the duration of liabilities that support its businesses.

For full year 2010, Citi currently expects to issue approximately $18 billion to $21 billion in long-term debt. This is $3 billion to $6 billion above the prior … [visit site to read more]

Despite 9.5% Jobless Rate, Firms Struggle To Hire; Help Wanted Ads Increased By 1m Since Apr. 2009

Posted: 09 Aug 2010 01:50 PM PDT

Wall Street Journal — “With a 9.5% jobless rate and some 15 million Americans looking for work, many employers are inundated with applicants. But a surprising number say they are getting an underwhelming response, and many are having trouble filling open positions.

“This is as bad now as at the height of business back in the 1990s,” says Dan Cunningham, chief executive of the Long-Stanton Manufacturing Co., a maker of stamped-metal parts in West Chester, Ohio, that has been struggling to … [visit site to read more]

Ford Gets $250M Loan Guarantee

Posted: 09 Aug 2010 01:35 PM PDT

Ford Motor Company (NYSE:F) has recently won approval for $250 million of working capital loan guarantee from the Export-Import Bank of the United States. The loan facility will finance about $3.1 billion of export sales for over 200,000 vehicles to Mexico and Canada.

Using this loan guarantee, Ford will export several models including Explorer, Escape, Expedition, E-Series Van, Focus, Ford F-150, Lincoln MKS, Navigator and Taurus.

The actual finance will be provided by the Private Export … [visit site to read more]

Scientific Games Barely Beats

Posted: 09 Aug 2010 01:35 PM PDT

Scientific Games Corp. (NASDAQ:SGMS) reported a profit on a non GAAP basis for the second quarter of 2010, beating the Zacks Consensus Estimate by a penny.

Earnings, excluding one-time items, came in at 14 cents per share, edging past the Zacks Consensus Estimate of earnings of 13 cents per share. This compares with a profit of 21 cents per share reported in the year-ago quarter.

Although results were down year over year, the quarter benefitted from an increase in U.S. lottery retail revenues, … [visit site to read more]

Berkshire Gains On Higher Revenues

Posted: 09 Aug 2010 01:35 PM PDT

Berkshire Hathaway Inc.'s (BRK.A, BRK.B) second quarter earnings of $1.24 per share were ahead of the Zacks Consensus Estimate of $1.01 per share. Earnings also compared favorably to 76 cents per share reported in the prior-year quarter.

Results were positively affected by an increase in revenues from Berkshire's economy sensitive business — Utilities & Energy and Manufacturing, Service & Retailing. Besides, the recently completed acquisition of the rail road company Burlington … [visit site to read more]

Earnings Scorecard: Becton, Dickinson

Posted: 09 Aug 2010 01:35 PM PDT

Becton, Dickinson (NYSE:BDX) announced third-quarter (ending June 30) fiscal 2010 adjusted earnings per share of $1.29, beating the Zacks Consensus Estimate of $1.25 while falling slightly short of the year-ago figure of $1.30.

Becton, Dickinson had revenues of $1.88 billion, up 3.2% year over year (or 3.9% in constant currency). Revenues were negatively impacted by a slowdown in European markets.

Sales of the BD Medical segment were adversely impacted by lower placement of Pharmaceutical … [visit site to read more]

Three Reasons Canadian ETFs Have Appeal

Posted: 09 Aug 2010 01:17 PM PDT

With its array of natural resources, supply of commodities and enviable banking system, Canada remains relatively appealing and poses an opportunity for investors.
The democratically governed nation is one of the world's largest trading nations and is a net exporter of energy.  In fact, Canada boasts the world's second largest oil reserves, behind Saudi Arabia, as well as ample supplies of natural gas and nuclear energy.  Due to its abundance of energy-related resources, the … [visit site to read more]

Is The Lance Inc. Merger With Snyder’s Of Hanover A Treat For Investors?

Posted: 09 Aug 2010 01:15 PM PDT

Sweet and salty – it's a match made in heaven…
And that heaven exists in Charlotte, North Carolina – home of Lance, Inc. (NASDAQ:LNCE), the original maker of the sandwich cracker.

Founded in 1915 by food broker Phillip Lance, Lance Inc. was initially born out of a mix-up involving 500 pounds of raw peanuts. Rather than renege on a bargain made with a local peanut farmer, Lance roasted and sold the nuts in Charlotte.
After some relative success, he moved on to making his own peanut butter. … [visit site to read more]

Tyson Tops, Optimistic Outlook

Posted: 09 Aug 2010 01:05 PM PDT

Tyson Foods Inc. (NYSE:TSN) delivered third-quarter 2010 earnings of 65 cents a share, exceeding the Zacks Consensus Estimate of 59 cents by 10.2% and the year-ago earnings of 35 cents by 85.7%.

Revenue and Margins

Net sales recorded a growth of 11.6% to $7,438 million from $6,662 million in the year-ago quarter, but slightly missed the Zacks Consensus Estimate of $7,306 million. The upswing came as an outcome of sales growth across all its segments.

Tyson's operating income shot up 83.7% to … [visit site to read more]

TDS Earnings Disappoint

Posted: 09 Aug 2010 01:05 PM PDT

Telephone and Data Systems (NYSE:TDS) announced second-quarter 2010 earnings per share (EPS) of 38 cents, which was well below the Zacks Consensus Estimate of 48 cents and earnings of 60 cents in the year-ago quarter. Earnings were affected by stiff competition from wireless and wireline businesses as well as the uncertainty in consumer and business activities.

Net income plunged 39% year-over-year to $40.3 million, due to lower revenues. Revenues dropped 1% year-over-year to $1,232.2 million … [visit site to read more]

Commtouch Acquisition Fuels Growth

Posted: 09 Aug 2010 01:05 PM PDT

Concurrent with its second quarter press release, Commtouch Software (NASDAQ:CTCH) announced that it has signed a definitive asset purchase agreement to acquire the assets, products, licenses and operations of the Command antivirus division of Authentium, Inc., which is based in Florida. Command Antivirus which also includes technology to protect against spyware, Trojan downloaders and other threats should be synergetic with the rest of Commtouch's product portfolio.

The acquisition price will … [visit site to read more]

Mixed Q2 From Buckeye

Posted: 09 Aug 2010 01:05 PM PDT

Buckeye Partners LP (NYSE:BPL) announced its second-quarter 2010 operating earnings of 78 cents per limited partner unit, which was lower than the Zacks Consensus Estimate of 88 cents per limited partner unit. The results of the partnership were in line with the year-ago earnings of 78 cents.

Total Revenue

Total revenue of the partnership at the end of the second quarter was $667.3 million versus $351.2 million in the year-ago quarter, reflecting a growth of 90.0%. Reported results came in … [visit site to read more]

What Was Mark Hurd Thinking?

Posted: 09 Aug 2010 12:39 PM PDT

High school kids do stupid things all the time. With little appreciation of the risks involved, stupid pranks or immature behavior can often have serious consequences.  Hopefully by the time the high schooler heads off to college, the days of immaturity are in the rear view mirror. What is the lesson many hgih schoolers learn? Actions have consequences.
This lesson is certainly not restricted to those in high school. That said, how is it that a CEO of a Fortune 500 … [visit site to read more]

BCE Tops, Lifts Guidance

Posted: 09 Aug 2010 12:35 PM PDT

BCE Inc. (NYSE:BCE), Canada's largest telephone operator, announced second-quarter 2010 adjusted earnings per share of 77 Canadian cents (75 cents per ADS), beating the Zacks Consensus Estimate of 72 cents per ADS. Earnings shot up 32.8% from 58 Canadian cents in the year-ago quarter. Adjusted earnings exclude restructuring charges and other gains or losses on investments.

Net income jumped 70.5% year-over-year to C$590 million ($574.3 million) or 78 Canadian cents per share (76 cents per ADS) … [visit site to read more]

Scripps Networks Beats

Posted: 09 Aug 2010 12:35 PM PDT

Scripps Networks Interactive Inc. (NYSE:SNI) today reported strong second quarter 2010 financial results. Quarterly GAAP net income was $106.2 million or 63 cents per share compared to a net income of $79.5 million or 48 cents per share in the prior-year quarter. However, excluding one-time special items, Scripps Networks' second quarter 2010 EPS was 59 cents, above the Zacks Consensus Estimate of 58 cents.

Quarterly consolidated revenue of $516 million was an improvement of 31.9% … [visit site to read more]

FOMC Meeting: Pre-Meeting Thoughts

Posted: 09 Aug 2010 12:06 PM PDT

Back in the day, as they say now, I would go into some FOMC meetings with firm views and a relatively closed mind and into some with tentative views and a greater willingness to be persuaded.  I would go into tomorrow's meeting with a mixture of firm and tentative views.
Firm Views
Contrary to popular opinion, the Fed has not been all that easy lately, short-term interest rates notwithstanding. The reserves created by past open market purchases are being held by banks as excess reserves … [visit site to read more]

DISH Network Beats The Street

Posted: 09 Aug 2010 12:05 PM PDT

DISH Network Inc. (NASDAQ:DISH) declared better-than-expected second quarter 2010 financial results. Second quarter earnings of $257 million or 57 cents per share were higher than $63 million, or 14 cents reported in the year-ago quarter. Quarterly earnings also came in well ahead of the Zacks Consensus Estimate of 53 cents.

Revenue

Total revenue increased 9.1% to $3.17 billion compared with $2.90 billion in the year-ago quarter. This was mainly attributable to a huge increase in subscriber … [visit site to read more]

Hyatt Surpasses Zacks Consensus

Posted: 09 Aug 2010 12:05 PM PDT

Hyatt Hotels Corp. (H) reported its second-quarter 2010 adjusted earnings of 18 cents per share, higher than the Zacks Consensus Estimate of 8 cents per share. On a GAAP basis, net income per share was 14 cents versus a loss of 34 cents recorded in the comparable quarter last year. The last year's loss widened due to a hefty one-time charge of 43 cents per share mostly as debt settlement cost. However, in the reported quarter, the one-time charge is 4 cents per share. 


Inside the … [visit site to read more]

Completely Automatic Underground Car Parking

Posted: 09 Aug 2010 11:33 AM PDT

HT: Bob … [visit site to read more]

Waiting, Vacations Or Just Plain Boring?

Posted: 09 Aug 2010 11:20 AM PDT

Art Cashin, head of floor operations for UBS, said this afternoon that coming to work today almost wasn’t worth the price of a subway token because trading had been so slow and boring. While some Talking Heads on CNBC said the reason was just that it was a lazy, August trading day when many are on vacation. Others said it was slow because many traders were sitting on the sidelines waiting to hear what sort of new stimulus the Fed might come up with in tomorrow’s meeting (and if they don’t, … [visit site to read more]
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