Wednesday, September 15, 2010

Daily Markets - Garmin To Shutter Smartphone Biz?

Daily Markets - Garmin To Shutter Smartphone Biz?

Garmin To Shutter Smartphone Biz?

Posted: 15 Sep 2010 12:05 PM PDT

Many people may not know that Garmin (GRMN), the maker of personal navigational devices, has also tried its luck with smartphones — and has struggled to make a mark. Now, the company admits that sales of Nuvifone, the navigation-enabled smartphone, have been dismal, and it is examining options that may include shuttering the business altogether.

Garmin had once hoped Nuvifone would vault it into the league of iPhone and Android, but cut-throat competition and Google's (GOOG) announcement in … [visit site to read more]

Lions Gate And Televisa Team Up

Posted: 15 Sep 2010 12:05 PM PDT

The studio, Lions Gate Entertainment Corp. (LGF) and the Mexican media conglomerate, Grupo Televisa SA (TV) formed a joint venture to produce movies for the fast-growing Hispanic population in the U.S., who account for one fourth of the country’s frequent moviegoers.
 
The companies also declared their plan to create Pantelion Films in the next five years, which will release eight to ten movies annually targeted to Latino audiences, starting off in January 2011 with a comedy movie "From … [visit site to read more]

Oracle’s Earnings Tomorrow

Posted: 15 Sep 2010 11:35 AM PDT

Oracle Corp. (ORCL) is expected to report its first quarter fiscal 2011 earnings tomorrow on September 16, 2010, after market close.
 
The stock has been trending upward, following the release of the strong quarterly results in June. Moreover, the share price soared over the last two weeks on the news that the former CEO of Hewlett Packard Company (HPQ), Mr. Mark Hurd joined Oracle as the co-president after being forced to resign as a result of a sexual harassment allegation brought … [visit site to read more]

Arrow Upgraded To Outperform

Posted: 15 Sep 2010 11:35 AM PDT

We recently upgraded our recommendation to OUTPERFORM from NEUTRAL on Arrow Electronics Inc. (NYSE:ARW) in anticipation of strong performance in the upcoming quarters.
 
Arrow reported solid results for the second quarter driven by strong growth across all geographies and products. Arrow offers its products in two segments – Global Components and Global Enterprise Computing Solutions.
 
Global components sales in the second quarter grew 44% year over year and 4.1% sequentially, driven … [visit site to read more]

Skin In The Game

Posted: 15 Sep 2010 11:16 AM PDT

I will never forget the mental and emotional sensation of purchasing my first real asset. That holding, a co-operative apartment in Brooklyn, New York was where I began my married life and started my family. I am not writing this to reminisce about life back in the mid-'80s but rather because those memories came back to me as I read an article in this morning's Wall Street Journal entitled, Obstacle to Deficit Cutting: A Nation on Entitlements, … [visit site to read more]

Joel Greenblatt On CNBC Discusses His New Book

Posted: 15 Sep 2010 11:10 AM PDT

joel greenblatt

Joel Greenblatt appeared on CNBC yesterday and discussed his brand new book The Little Book that Still Beats the Market (Little Books. Big Profits). The book is an updated version of The Little Book That Beats the Market (Little Books. Big Profits). Although the title might be cheesy, the information in the book is quite valuable. Greenblatt describes the magic formula he invested for finding a great business (high Return on capital) at cheap price ( as determined … [visit site to read more]

Sinopec Remains Neutral

Posted: 15 Sep 2010 11:05 AM PDT

China Petroleum and Chemical Corporation (NYSE:SNP), aka Sinopec, has been experiencing an upturn following the company's strong first half results. The price of its ADS increased more than 8% from the last month's low. The upside coincides with our view that 2010 will be a high-profit year for the company based on increasing trends in production and sales volumes.
 
Management is now focusing on developing a bigger line of natural gas business including conventional, non-conventional … [visit site to read more]

Pactiv Invests To Up Volume

Posted: 15 Sep 2010 11:05 AM PDT

Pactiv Corporation (NYSE:PTV) invested $12 million in a two-year program to upgrade equipment to increase the production of polystyrene food processor trays that would help meet the rise in consumer demand. The upgrade is scheduled for completion in early 2011.
 
This two-year program featured an improvement in technology of selected extrusion, thermoforming, padding, and packaging equipment and was carried out in four of Pactiv's manufacturing units. Polystyrene food processor trays are … [visit site to read more]

Fiserv Offers Notes

Posted: 15 Sep 2010 11:05 AM PDT

Fiserv Inc. (NASDAQ:FISV) has priced its public offering of senior notes totaling $750 million. The notes consist of 3.125% senior notes totaling $300 million that mature in 2015 and 4.625% senior notes aggregating $450 million that mature in 2020.
 
Credit Suisse, Wells Fargo Securities and SunTrust Robinson Humphrey are the joint book-running managers for the offering. The offering is expected to close September 21, 2010, subject to customary closing conditions.
 
Fiserv intends to use … [visit site to read more]

MeadWestvaco’s Eco-Friendly Project (revised)

Posted: 15 Sep 2010 10:35 AM PDT

In an effort to convert organic waste streams into biogas and other value-added products, paper and plastics maker MeadWestvaco Corp. (MWV) has teamed up with VOW Resources and Zera Energy.
A demonstration plant adjacent to MeadWestvaco's Evadale, Texas, mill will soon be constructed with completion expected in November 2010. The facility will create 30 construction jobs and provide 12 full-time positions.
Zera Energy will construct and operate the plant while VOW Resources will design, … [visit site to read more]

Triumph Joins Up With Boeing

Posted: 15 Sep 2010 10:35 AM PDT

Triumph Aerostructures-Vought Aircraft Division, subsidiary of Triumph Group Inc. (NYSE:TGI), has been chosen to be a part of The Boeing Company's (NYSE:BA) NewGen Tanker Team for the U.S. Air Force KC-X program. Triumph will provide horizontal stabilizer and aft body sections, wing center section, doors, skin panel fabrication, assemblies, keelbeams, seal depressor and acoustic panels for the NewGen Tanker.
 
Triumph will also supply landing gear and wing structures, push-pull cables, … [visit site to read more]

Industrial Production Up Again

Posted: 15 Sep 2010 10:35 AM PDT

Total Industrial Production rose by 0.2% in August, which was a tick less than the 0.3% rise that was expected. It was also slower than the 0.6% rise in July. The July number was revised down from a 1.0% increase, but June was revised to an increase of 0.1% from a decline of 0.1%.

Relative to a year ago, total Industrial Production is up 6.2%. These numbers are slightly disappointing, but far from a disaster, as much of the weakness can be traced to some seasonal adjustment problems.

Total … [visit site to read more]

FTI Offers Senior Notes

Posted: 15 Sep 2010 10:35 AM PDT

FTI Consulting Inc. (NYSE:FCN) announced its intention to offer of $350 million senior notes in a private placement. The senior notes bear an interest rate of 4.45% and will mature in ten years.
 
The company plans to use the sale proceeds from the offering to finance a simultaneously announced cash tender offer to repurchase any and all of its outstanding 7 5/8% senior notes due 2013.
 
The long-term debt and capital lease obligations, excluding the current portion, of the company as of … [visit site to read more]

Expansionary Monetary Policy To Support Gold Prices And ETFs

Posted: 15 Sep 2010 10:17 AM PDT

Gold recently surged to a record high, driven primarily by strong fundamentals and is likely to continue to witness positive price support due to global expansionary monetary policy enabling the SPDR Gold Shares ETF (GLD), the PowerShares DB Gold Fund (DGL) and the Market Vectors Gold Miners ETF (GDX) to reap the benefits. 
Randall Forsyth for Barrons states that nearly every central bank around the world is aimed at avoiding a too-strong currency and is opting at incorporating an … [visit site to read more]

Williams’ TXP4 Comes Online

Posted: 15 Sep 2010 10:05 AM PDT

Oklahoma-based Williams Partners L.P. (NYSE:WPZ) announced the initiation of its operations on the fourth cryogenic processing train, TXP4, at the Echo Springs natural gas processing plant in Carbon County, Wyoming.
 
The TXP4 facility contributed approximately 350 million cubic feet per day (MMcf/d) of natural gas processing and 30,000 barrels of natural gas liquid (NGL) production per day. This almost doubled the plant's production.
 
The partnership has commendably brought the … [visit site to read more]

The Real Conundrum: Why The Hell Do We Care If China Manipulates Its Currency In Our Favor?

Posted: 15 Sep 2010 09:18 AM PDT

Here’s a little editing fun of Harold Meyerson’s article in today’s Washington Post:

“This week, committees on both sides of Capitol Hill will plumb the conundrum of Chinese currency manipulation. The conundrum isn’t that — or why — China is manipulating its currency: By undervaluing it, China is systematically able to underprice its exports, putting American (and other nations’) manufacturing consumers and businesses that purchase China' cheap imports at a significant disadvantage. The … [visit site to read more]
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