TEN - News and Analysis from Seeking Alpha 'TEN' Tag RSS Syndication from SeekingAlpha.com SeekingAlpha.com http://seekingalpha.com/symbol/ten Trash Is King: Beware Being Late to the Party http://seekingalpha.com/article/162092-trash-is-king-beware-being-late-to-the-party?source=feed 162092 Markets are pricing in a dramatic improvement in fundamentals which often happens after steep recessions. If one believes that demand will return to where it was earlier in the decade, we would see a sustained period of dramatic growth justifying the fastest surge in stock prices since the 1930s. A growing middle class in China, India, South East Asia and South America is going to lead to increasing domestic consumption in these countries for decades to come. Most importantly, the massive government stimulus packages in the United States, Japan, China and Europe have begun to work as intended. This is causing factories that produce machinery, steel, aluminum, household appliances, furniture and cars which were idled for much of the first half of this year to restart in the second half leading to a massive surge in GDP growth worldwide. This surge will create a virtuous cycle that will cause consumer spending and corporate profits to increase and unemployment to decline. This is the bull case for stocks.

Anyone who has sat on the sidelines since my last letter has lost opportunity, and the market may indeed go higher in the near future. Like all good stories there are a number of truths to the above scenario where one can make a case that the things are getting better. The future certainly looks more promising for emerging markets than it has in the past. The massive increase in bank lending in the first half of the year in China has increased consumption. Some factories will indeed need to be restarted, for a short time at least, after being idled. We believe there is a growing disconnect between the rational expectations for the future and current market prices. This disconnect is due to the massive amount of liquidity pumped into the financial system which is flowing into the financial markets.

]]> Thu, 17 Sep 2009 16:57:57 -0400 Thomas Ryan Thomas Ryan submits:

Markets are pricing in a dramatic improvement in fundamentals which often happens after steep recessions. If one believes that demand will return to where it was earlier in the decade, we would see a sustained period of dramatic growth justifying the fastest surge in stock prices since the 1930s. A growing middle class in China, India, South East Asia and South America is going to lead to increasing domestic consumption in these countries for decades to come. Most importantly, the massive government stimulus packages in the United States, Japan, China and Europe have begun to work as intended. This is causing factories that produce machinery, steel, aluminum, household appliances, furniture and cars which were idled for much of the first half of this year to restart in the second half leading to a massive surge in GDP growth worldwide. This surge will create a virtuous cycle that will cause consumer spending and corporate profits to increase and unemployment to decline. This is the bull case for stocks.

Anyone who has sat on the sidelines since my last letter has lost opportunity, and the market may indeed go higher in the near future. Like all good stories there are a number of truths to the above scenario where one can make a case that the things are getting better. The future certainly looks more promising for emerging markets than it has in the past. The massive increase in bank lending in the first half of the year in China has increased consumption. Some factories will indeed need to be restarted, for a short time at least, after being idled. We believe there is a growing disconnect between the rational expectations for the future and current market prices. This disconnect is due to the massive amount of liquidity pumped into the financial system which is flowing into the financial markets.


Complete Story »]]> ARM CAR DAN DTG TEN Thomas Ryan Stocks with 10x Gain Since March: Room to Run? http://seekingalpha.com/article/158077-stocks-with-10x-gain-since-march-room-to-run?source=feed 158077

Last week, CNBC featured some members of the thousand percent club, or those stocks that have gained over ten times their value since the March low. I know from surfing thousands of charts per week that many stocks have indeed posted incredible gains, but I was interested in finding out approximately how many companies could claim membership in this exclusive 1000% club.

To that end, I discovered 34 thousand percenters that are trading over a buck and listed on major exchanges. In fact, with the exception of Fredrick’s of Hollywood (FOH) that is listed on the AMEX, the rest all reside on the Nasdaq or the NYSE.

]]> Tue, 25 Aug 2009 04:13:21 -0400 Dr. Kris

Last week, CNBC featured some members of the thousand percent club, or those stocks that have gained over ten times their value since the March low. I know from surfing thousands of charts per week that many stocks have indeed posted incredible gains, but I was interested in finding out approximately how many companies could claim membership in this exclusive 1000% club.

To that end, I discovered 34 thousand percenters that are trading over a buck and listed on major exchanges. In fact, with the exception of Fredrick’s of Hollywood (FOH) that is listed on the AMEX, the rest all reside on the Nasdaq or the NYSE.


Complete Story »]]> ARM ATSG AXL BCRX BZ BZH CAR CENX CHRS CKEC CTIC DAN DDRX DTG FOH HGSI IFON IRE JAZZ KERX LNET LZB MOD OFG PIR PNX RODM SAH SCSS SMRT TEN TRW VCI VNDA Dr. Kris Cramer's Lightning Round - Let's Buy Some Bunge (8/11/09) http://seekingalpha.com/article/155300-cramer-s-lightning-round-let-s-buy-some-bunge-8-11-09?source=feed 155300 Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Tuesday August 11.

Bullish Calls:

Johnson&Johnson (JNJ), Bristol Myers Squibb (BMY): "BMY has got a 6 percent yield, I shouldn't have sold JNJ...I wanted to make a swap for BMY. JNJ is fine, it is really well run....I just like BMY more."

]]> Wed, 12 Aug 2009 07:12:49 -0400 SA Editor Miriam Metzinger Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Tuesday August 11.

Bullish Calls:

Johnson&Johnson (JNJ), Bristol Myers Squibb (BMY): "BMY has got a 6 percent yield, I shouldn't have sold JNJ...I wanted to make a swap for BMY. JNJ is fine, it is really well run....I just like BMY more."


Complete Story »]]> ADM ATI BAC BG BMY HAR JNJ NWS TEN SA Editor Miriam Metzinger Cash for Clunkers a Losing Proposition http://seekingalpha.com/article/153122-cash-for-clunkers-a-losing-proposition?source=feed 153122 I’m not sure how this sector didn’t fall on my radar yesterday, but if you’re looking for momentum, look no further. I really don’t understand what our Government is thinking, devoting 2 billion dollars that they don’t even have to what is essentially free money to people who want to buy a new car. Our country has turned into one big handout after another. Don’t people realize that we’re going to have to fund this through higher taxes in the future? And think of the interest that is going to accumulate on that loan. It’s really a trick to get people to go out and spend which is the exact opposite of what you should be doing.

Here is a link to a video describing the pros and cons of the program.

]]> Sun, 02 Aug 2009 06:43:30 -0400 Jeff Pierce Jeff Pierce submits:

I’m not sure how this sector didn’t fall on my radar yesterday, but if you’re looking for momentum, look no further. I really don’t understand what our Government is thinking, devoting 2 billion dollars that they don’t even have to what is essentially free money to people who want to buy a new car. Our country has turned into one big handout after another. Don’t people realize that we’re going to have to fund this through higher taxes in the future? And think of the interest that is going to accumulate on that loan. It’s really a trick to get people to go out and spend which is the exact opposite of what you should be doing.

Here is a link to a video describing the pros and cons of the program.


Complete Story »]]> ARM AXL BWA DAN JCI TEN TRW Jeff Pierce Tenneco Automotive Q2 2009 Earnings Transcript http://seekingalpha.com/article/152698-tenneco-automotive-q2-2009-earnings-transcript?source=feed 152698 Tenneco Automotive, Inc. (TEN)

Q2 2009 Earnings Call

July 30, 2009 10:30 AM ET

]]> Thu, 30 Jul 2009 22:54:18 -0400 Tenneco Automotive, Inc. (TEN)

Q2 2009 Earnings Call

July 30, 2009 10:30 AM ET


Complete Story »]]> TEN I Was Wrong About GM Bankruptcy http://seekingalpha.com/article/147296-i-was-wrong-about-gm-bankruptcy?source=feed 147296 By Dirk van Dijk

It now appears that General Motors (GMGMQ.PK) will shortly leave Chapter 11. Like the Chrysler bankruptcy, I was wrong to think that it would be an extremely long and drawn-out affair. While having two of the big three go into bankruptcy was bad news for the economy, their short stay in bankruptcy means that the damage is going to be much less than I feared.

]]> Tue, 07 Jul 2009 04:51:57 -0400 Zacks.com Zacks.com submits:

By Dirk van Dijk

It now appears that General Motors (GMGMQ.PK) will shortly leave Chapter 11. Like the Chrysler bankruptcy, I was wrong to think that it would be an extremely long and drawn-out affair. While having two of the big three go into bankruptcy was bad news for the economy, their short stay in bankruptcy means that the damage is going to be much less than I feared.


Complete Story »]]> F GMGMQ.PK TEN TRW Zacks.com Auto Suppliers: Up on Fundamentals, Bailout Hopes, or Both? http://seekingalpha.com/article/142884-auto-suppliers-up-on-fundamentals-bailout-hopes-or-both?source=feed 142884 Auto supplier stocks have been on a TEAR recently - up about 325% since the March 6th low, versus a 39% gain for the S&P500. Leading the way up has been Tenneco Inc. (TEN), up over 1,000% since trading under $1. Also up huge is Lear Corp (LEA), although the recovery in the two share prices are for different reasons. Tenneco is still off 51% from its twelve month high, while Lear is still down 92%.

In Tenneco's most recent conference call, you'll find that management and employees have fought back hard against the massive decline in auto sales.

]]> Fri, 12 Jun 2009 07:51:43 -0400 Cru Jones Brendan Wagner submits:

Auto supplier stocks have been on a TEAR recently - up about 325% since the March 6th low, versus a 39% gain for the S&P500. Leading the way up has been Tenneco Inc. (TEN), up over 1,000% since trading under $1. Also up huge is Lear Corp (LEA), although the recovery in the two share prices are for different reasons. Tenneco is still off 51% from its twelve month high, while Lear is still down 92%.

In Tenneco's most recent conference call, you'll find that management and employees have fought back hard against the massive decline in auto sales.


Complete Story »]]> LEA TEN Cru Jones Cramer's Lighting Round - Visa Is Not a Play on Credit (6/3/09) http://seekingalpha.com/article/141312-cramer-s-lighting-round-visa-is-not-a-play-on-credit-6-3-09?source=feed 141312 Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Wednesday June 3.

Bullish Calls:

First Solar (FSLR): "I do like First Solar. They do not need government subsidies. it is a $180 stock so... buy 2 shares, buy 3 shares"

]]> Thu, 04 Jun 2009 08:07:25 -0400 SA Editor Miriam Metzinger Stocks discussed on the lightning round session of Jim Cramer's Mad Money TV Program, Wednesday June 3.

Bullish Calls:

First Solar (FSLR): "I do like First Solar. They do not need government subsidies. it is a $180 stock so... buy 2 shares, buy 3 shares"


Complete Story »]]> CCJ FSLR KBR MON SGR STP TEN TLAB V SA Editor Miriam Metzinger Goldman Sachs Busy Editing Conviction Buy and Sell Lists http://seekingalpha.com/article/137346-goldman-sachs-busy-editing-conviction-buy-and-sell-lists?source=feed 137346 With the market ramping up the past few months, Goldman Sachs has been quite busy editing their coveted Conviction Buy List. For those unaware, Goldman's Buy List is simply a list of the names they deem to be 'the best' at present. They also have a Conviction Sell List, which outlines stocks to be avoided at all costs. Just last week, we went through and updated the changes to their Conviction Buy List. And, here we are yet again with another round of some additions and a lot of subtractions.

Before we begin, do note that we don't necessarily place too much weight on individual analyst calls. As evidenced by the massive market decline of 2008, many analysts were behind the ball and were reactive rather than proactive. As such, we take it all with a grain of salt. That said, we also realize that many of these reports can move markets and influence opinion of various stocks, which is why we cover them. As we like to say, you have to "trade the perception, not the reality."

]]> Wed, 13 May 2009 02:56:24 -0400 Market Folly Market Folly submits:

With the market ramping up the past few months, Goldman Sachs has been quite busy editing their coveted Conviction Buy List. For those unaware, Goldman's Buy List is simply a list of the names they deem to be 'the best' at present. They also have a Conviction Sell List, which outlines stocks to be avoided at all costs. Just last week, we went through and updated the changes to their Conviction Buy List. And, here we are yet again with another round of some additions and a lot of subtractions.

Before we begin, do note that we don't necessarily place too much weight on individual analyst calls. As evidenced by the massive market decline of 2008, many analysts were behind the ball and were reactive rather than proactive. As such, we take it all with a grain of salt. That said, we also realize that many of these reports can move markets and influence opinion of various stocks, which is why we cover them. As we like to say, you have to "trade the perception, not the reality."


Complete Story »]]> BIIB BK CHK DLTR DVN EOG FDML GPS GWW IGT LLL LNC NTRS OI PENN PMCS TEN TER Market Folly Tenneco Inc. Q1 2009 Earnings Call Transcript http://seekingalpha.com/article/134735-tenneco-inc-q1-2009-earnings-call-transcript?source=feed 134735 Tenneco Inc. (TEN)

Q1 2009 Earnings Call

April 30, 2009 10:30 am ET

]]> Fri, 01 May 2009 21:17:22 -0400 Tenneco Inc. (TEN)

Q1 2009 Earnings Call

April 30, 2009 10:30 am ET


Complete Story »]]> TEN Tenneco Inc. Q4 2008 Earnings Call Transcript http://seekingalpha.com/article/118869-tenneco-inc-q4-2008-earnings-call-transcript?source=feed 118869 Tenneco Inc. (TEN)

Q4 2008 Earnings Call

February 5, 2009. 10:30 am ET

]]> Thu, 05 Feb 2009 17:17:16 -0500 Tenneco Inc. (TEN)

Q4 2008 Earnings Call

February 5, 2009. 10:30 am ET


Complete Story »]]> TEN U.S. Auto Suppliers Now on Bankruptcy Watch http://seekingalpha.com/article/116575-u-s-auto-suppliers-now-on-bankruptcy-watch?source=feed 116575 U.S. companies that supply the auto industry are on bankruptcy watch, according to a report in the Wall Street Journal Monday morning, which says many in the sector are lining up financial and legal advice for possible bankruptcy filings.

It was fairly obvious to Research Recap back in mid-December that the auto suppliers would be the next shoe to drop in the worsening auto recession, following ratings downgrades in the sector from Moody’s Investor Services.

]]> Mon, 26 Jan 2009 16:21:24 -0500 Research Recap Research Recap submits:

U.S. companies that supply the auto industry are on bankruptcy watch, according to a report in the Wall Street Journal Monday morning, which says many in the sector are lining up financial and legal advice for possible bankruptcy filings.

It was fairly obvious to Research Recap back in mid-December that the auto suppliers would be the next shoe to drop in the worsening auto recession, following ratings downgrades in the sector from Moody’s Investor Services.


Complete Story »]]> ARM AXL BWA DAN FDML GT HAYZ JCI LEA MGA SHLO SRI TEN TRW VC Research Recap Detroit Auto Show Will Be Muted as Global Production Slows http://seekingalpha.com/article/114180-detroit-auto-show-will-be-muted-as-global-production-slows?source=feed 114180

Much of the hype surrounding the Detroit Auto Show will be muted this year. Sales figures are miserable, the industry is coming to grips with the serious challenges it faces, and the Bush administration recently approved $17.4-billion in emergency loans to General Motors Corp. (GM) and Chrysler LLC.

]]> Sun, 11 Jan 2009 07:12:52 -0500 FP Trading Desk FP Trading DeskFP Trading Desk submits:

Much of the hype surrounding the Detroit Auto Show will be muted this year. Sales figures are miserable, the industry is coming to grips with the serious challenges it faces, and the Bush administration recently approved $17.4-billion in emergency loans to General Motors Corp. (GM) and Chrysler LLC.


Complete Story »]]> ALV ARM GMGMQ.PK LEA MMTOF.PK NSANY POAHF.PK RYCEY.PK SZKMF.PK TEN VC FP Trading Desk 3 Top and Bottom Market Sectors for This Week http://seekingalpha.com/article/112573-3-top-and-bottom-market-sectors-for-this-week?source=feed 112573 At the end of each week, our market direction radar scans the Hillbent 3000 universe (minimum average daily volume of 100k and largest 3000 market capitalization stocks) for the top 3 and bottom 3 sectors based upon aggregate performance and analyzes their winners and losers.

Using this weekly sector report on a regular basis allows Hillbent.com’s readers to efficiently monitor sector rotations and investor sentiment biases.

]]> Tue, 30 Dec 2008 04:57:20 -0500 J Clinton Hill J Clinton Hill submits:

At the end of each week, our market direction radar scans the Hillbent 3000 universe (minimum average daily volume of 100k and largest 3000 market capitalization stocks) for the top 3 and bottom 3 sectors based upon aggregate performance and analyzes their winners and losers.

Using this weekly sector report on a regular basis allows Hillbent.com’s readers to efficiently monitor sector rotations and investor sentiment biases.


Complete Story »]]> ALV ANR ANV APWR ARAY ARM ARNA ARTC ASH ATPG AXL BAM BBEP BCE BKI CDE CEG CLC CMED CMZ CODI CPN CR CSL CV CYPB CYTK DHR DNN DYN EBR ENOC EROC F FCEL FDML FE FO FRG FRP FSS FSYS GBG GDP GFF GMGMQ.PK GMXR GNCMA GRA GSS GT HIT HMC HMY HSC HTE IPHS ITMN ITT JAV JRCC KOP KV.A LDL LEA LKQX LNDC LUK LUKOY.PK LVLT LXRX LXU MEDX MFN MIC MSBHY MTE MTL NABI NAV NBIX NSANY NXG OII OPK OPTR OTT PDS PLM QCOR REXX RTIX SA SCG SLT SPAR SPH SPW SRZ SUP TEN TESO THC TKS TM TNE TOMO TSP TTES TTM TU TXT UTX VTG WNC WOR WRES XTEX J Clinton Hill Auto Suppliers Next Shoe to Drop in Detroit Crisis http://seekingalpha.com/article/110774-auto-suppliers-next-shoe-to-drop-in-detroit-crisis?source=feed 110774 Auto suppliers face increasing pressure as the Bush Administration continued to deliberate about a possible auto industry bailout over the weekend and White House officials warned there was little likelihood of an announcement by Monday.

In an article this weekend, Barron’s pointed out that a bailout would not be a panacea but a stop-gap measure for the industry until the Obama administration is in place.

]]> Mon, 15 Dec 2008 11:30:59 -0500 Research Recap Research Recap submits:

Auto suppliers face increasing pressure as the Bush Administration continued to deliberate about a possible auto industry bailout over the weekend and White House officials warned there was little likelihood of an announcement by Monday.

In an article this weekend, Barron’s pointed out that a bailout would not be a panacea but a stop-gap measure for the industry until the Obama administration is in place.


Complete Story »]]> ARM BWA F GMGMQ.PK LEA TEN TRW Research Recap Tenneco Inc. Q3 2008 Earnings Call Transcript http://seekingalpha.com/article/103977-tenneco-inc-q3-2008-earnings-call-transcript?source=feed 103977 Tenneco Inc. (TEN)

Q3 2008 Earnings Call

November 4, 2008, 10:00 am ET

]]> Tue, 04 Nov 2008 16:05:16 -0500 Tenneco Inc. (TEN)

Q3 2008 Earnings Call

November 4, 2008, 10:00 am ET


Complete Story »]]> TEN Wall Street Breakfast: Must-Know News http://seekingalpha.com/article/103871-wall-street-breakfast-must-know-news?source=feed 103871
  • Even more firms may gain access to TARP. Sources say the Treasury may use some of its $700B rescue fund to buy stakes in financing companies such as GE's (GE) GE Capital and CIT Group (CIT). Presently the program only includes publicly-traded banks and insurers, although the Treasury is already mulling opening the door to some privately-held firms. The U.S. government could eventually own even more of the American financial system than first envisioned.
  • Yahoo, Google tone down ad tie-up. Yahoo (YHOO) and Google (GOOG) submitted a revised version of their search-ad pact to the Justice Department in the hope gaining approval. New provisions limit the scope of the deal, including shortening the agreement to two years from ten, and capping Yahoo's revenue from the deal to 25% of its search revenue total; previously there was no cap. The revised plan also gives Google advertisers the ability to opt out of having their ads displayed on Yahoo sites. It's unclear whether the changes will suffice to appease regulators who worry the deal will allow Google (GOOG) to monopolize online advertising. Separately, Yahoo said Monday Microsoft (MSFT) executive Jeff Dossett will take the lead position in its online media properties after veteran Scott Moore left "for other opportunities."
  • UBS posts earnings, warnings. UBS (UBS) confirmed a Q3 profit of 296M Swiss francs ($256.3M) helped by credit and tax gains, with outflows of 49.3B francs from its wealth management unit and 34.4B francs from its asset management unit. The world's largest wealth manager, UBS had already reported much of its Q3 results last month when it announced a capital injection of 6B franc from the Swiss government and said it would unload $60B of risky assets into a central bank fund. UBS noted some positive client money flows in October, but warned 'difficult' market conditions would hurt fee-earning businesses and Q4 results would be weighed down by the accounting effects of transferring risky assets. Shares -2.6% premarket.
  • Outlook sours for RBS. Royal Bank of Scotland (RBS) abandoned its full-year profit forecast after it wrote-down £1B in October against assets connected to Lehman Brothers and Icelandic banks and as bad loans rose. It also posted £1.4B of markdowns in Q3 before new accounting rules allowed it to claim back £1.2B. CEO Stephen Hester said the latest writedowns, coming in addition to £5.9B in H1, show the bank has too much risk and could face a full-year loss. RBS is in line for a U.K. bailout, and the government could own up to 60% of the bank unless investors buy some of the £20B of stock to be issued later this year. Shares -14.9% premarket.
  • Goldman hedge fund down $1B. A flagship Goldman Sachs (GS) hedge fund - Goldman Sachs Investment Partners - has lost almost $1B of its $6B since its launch in January, further evidence of the crisis facing the industry. "We anticipate that these results will lead to net outflows from the hedge fund industry," managers said, although GSIC itself imposed a two-year lock-in at inception. More than half of its 13% Q3 loss was on positions in commodities, basic materials, metals, mining, energy and agriculture.
  • Tough 2009 for JPMorgan. JPMorgan (JPM) CEO Jamie Dimon told employees the firm faces "highly challenging conditions" in 2009, but sees a possible "strong recovery" in 2010. JPM's recent acquisitions of Bear Stearns and WaMu will improve performance in the "longer term," he said. Dimon warned Asia is "going to get worse than you think" as the tidal wave that began with a collapse of the U.S. mortgage market washes over it. Still, longer-term, he sees "very substantial natural growth" in the region.
  • iPod master leaves Apple. Tony Fadell, one of the fathers of the iPod, is leaving Apple (AAPL) for personal reasons, sources say. Former IBM (IBM) executive Mark Papermaster will take his place. During Fadell's tenure, the iPod grew from a curiosity into a major cash cow; Apple sold 54.7M iPods during its most recent fiscal year. But growth has cooled off as saturation becomes a factor in many countries. Still, Apple shows no signs of giving up any of its 70% U.S. market share.
  • Dismal October for automakers. General Motors (GM) said October was likely the auto industry's worst month since WWII after its sales plunged 45%, Ford's (F) fell 30%, Nissan's (NSANY) declined 33%, Honda's (HMC) dropped 25%, while Toyota's (TM) declined by 23%. GM marketing chief Mark LaNeve said he believes there's plenty of pent-up demand, "but until the credit markets open up and consumer confidence improves, the entire U.S. economy, and any industry like autos that relies on financing, will suffer." U.S. auto sales are now down 14.6% YTD. "It's weaker than we were anticipating," J.D. Power's Bob Schnorbus said, warning leaders should take heed: "The auto industry is important to the economy and it should not be taken too lightly."
  • Manufacturing paints bleak picture. The ISM's Manufacturing index fell to 38.9 in October, its lowest level since 1982, and worse than the expected 41.5. The only industries reporting growth were apparel and leather & allied products. Petroleum & coal and nonmetallic mineral products led the laggards. The weaker than expected data increases the risk the current slump will outdo the recessions of 2001 and 1991. Companies are cutting back on investments and hiring as Q3 consumer spending plunged by 3.1% - the biggest decline in 28 years. The survey "indicates a significantly faster rate of decline in manufacturing when comparing October to September," ISM director Norbert Ore said. "It appears that manufacturing is experiencing significant demand destruction as a result of recent events." Prices also rose at a much slower rate: the price index plunged to 37 from 53.5 in September - the lowest level since December 2001. Export orders dropped for the first time in 70 months.
  • September Construction Spending fell 0.3% from August's revised numbers, better than the expected 0.8% drop. Residential private construction -1.3%; non-residential +1.2%.

Earnings: Before Open

  • Ameren (AEE): Q3 EPS of $1.17 misses by $0.08. Revenue of $2.06B (+3.2%) vs. $2.29B. Sees full-year EPS of $2.80-3.00 vs. $3.01. Shares -5.3%. (PR)
  • Archer Daniels Midland (ADM): FQ1 EPS of $1.63 vs. consensus of $0.69. Revenue of $21.16B (+65%) vs. $15.98B. (PR)
  • Autodesk (ADSK): Sees Q3 EPS of $0.53-0.55 vs. $0.55 consensus and revenue of $604-607M vs $624M. "The sharp downturn of the global economy is substantially impacting our business... Demand for our products fell dramatically in October in all geographies as the financial crisis worsened. (PR)
  • Cimarex Energy (XEC): Q3 EPS of $2.19 misses by $0.07. Revenue of $576.5M (+67.7%) vs. $568M. (PR)
  • Dean Foods (DF): Q3 EPS of $0.28 misses by $0.03. Revenue of $3.19B (+2.5%) in-line. (PR)
  • Emerson Electric (EMR): FQ4 EPS of $0.88 beats by $0.02. Revenue of $6.7B (+11.1%) in-line. (PR)
  • GrafTech (GTI): Q3 EPS of $0.55 beats by $0.10. Revenue of $316M (+25.7%) vs. $303M. Shares +6.7%. (PR)
  • HCP Inc. (HCP): Q3 FFO of $0.71/share beats by $0.05. Revenue of $270M vs. $242M. Sees full-year FFO of $2.38-2.42 vs. $2.29. (PR)
  • Holly (HOC): Q3 EPS of $1.00 beats by $0.13. Revenue of $1.72B (+42.3%) in-line. (PR)
  • Louisiana-Pacific (LPX): Q3 EPS of -$0.38 misses by $0.08. Revenue of $390M (-17.5%) in-line. (PR)
  • Magna International (MGA): Q3 EPS of $0.17 vs. consensus of $0.90. Revenue of $5.53B (-9%) in-line. (PR)
  • Marvel Entertainment (MVL): Q3 EPS of $0.64 beats by $0.19. Revenue of $182.5M (+47.7%) vs. $146M. Sees full-year EPS of $2.45-2.65 vs. $1.93 and 2009 EPS of $1.00-1.35 vs. $1.94. (PR)
  • Myriad Genetics (MYGN): FQ1 EPS of $0.30 beats by $0.16. Revenue of $74M (+52.4%) vs. $70M. (PR)
  • NiSource (NI): Q3 EPS of $0.03 in-line. Revenue of $1.42B (+11.8%) vs. $1.36B. (PR)
  • PPL Corp. (PPL): Q3 EPS of $0.45 misses by $0.15. Sees full-year EPS of $2.00-2.05 vs. $2.29, and 2009 EPS of $1.60-1.90 vs. $2.17. "Many of the pressures that affected our results in 2008 also are expected to continue into 2009..." (PR)
  • Rowan (RDC): Q3 EPS of $1.00 beats by $0.13. Revenue of $527M (+5%) vs. $540M. "Continuing weakness in capital markets and commodity prices will, eventually, affect customer demand for our products and services, though we have experienced little impact thus far." (PR)
  • St. Joe (JOE): Q3 EPS of -$0.12 misses by $0.12. Revenue of $32.8M (-57.6%) vs. $47.3M. (PR)
  • Talisman Energy (TLM): Q3 EPS of $0.72 beats by $0.08. Revenue of $2.82B (+50.9%) vs. $2.89B. (PR)
  • Tenneco (TEN): Q3 EPS of $0.01 misses by $0.22. Revenue of $1.5B (-3.8%) in-line. (PR)
  • Tenet Healthcare (THC): Q3 EPS of -$0.06 misses by $0.03. Revenue of $2.14B (+5.2%) vs. $2.21B. Shares +14.1%. (PR)
  • W&T Offshore (WTI): Q3 EPS of $0.79 misses by $0.03. Revenue of $290M (+13.6%) vs. $276M. (PR)

Earnings: Monday After Close

  • Automatic Data Processing (ADP): FQ1 EPS of $0.54 beats by $0.04. Revenue of $2.18B (+9.5%) in-line. Shares -2.5%. (PR)
  • Coldwater Creek (CWTR): Sees Q3 sales of $225M vs. $265M consensus, and EPS of -$0.07 to -$0.09 vs. $0.03 consensus. "The overall macro-economic environment has proven to be substantially more challenging than anticipated." Shares -5.9%. (PR)
  • Comstock Resources (CRK): Q3 EPS of $1.20 beats by $0.20. Revenue of $169M (+103.7%) vs. $158M. (PR)
  • Embraer (ERJ): Q3 EPS of $0.32 misses by $0.07. Revenue of $1.55B (+8.1%) vs. $1.63B. (PR)
  • EOG Resources (EOG): Q3 EPS of $2.34 beats by $0.10. Revenue of $3.22B (+226.5%). Shares +1.9%. (PR)
  • Forest Oil (FST): Q3 EPS of $1.26 misses by $0.12. Revenue of $474M (+51.5%) vs. $465M. (PR)
  • Herbalife (HLF): Q3 EPS of $0.89 beats by $0.03. Revenue of $M in-line. Sees Q4 EPS of $0.65-0.70 vs. $0.91, and 2009 EPS of $3.50-3.55 vs. $3.71. Shares -13.5%. (PR)
  • MasterCard (MA): Q3 EPS of $2.47 beats by $0.22. Revenue of $1.34B (+23.7%) vs. $1.27B. Gross dollar volume rose 12.3%. "As we are not immune from the long-term effects of the current economic environment, we have significantly accelerated the focus on our cost structure..." Shares +8%. (PR)
  • Mohawk Industries (MHK): Q3 EPS of $1.10 misses by $0.02. Revenue of $1.76B (-9%) in-line. (PR)
  • Open Text (OTEX): Q3 EPS of $0.53 beats by $0.03. Revenue of $183M (+11.4%) vs. $179M. Shares -1.1%. (PR)
  • Pepco Holdings (POM): Q3 EPS of $0.59 misses by $0.11. Revenue of $3.06B (+10.4%) vs. $2.73B. (PR)
  • Pitney Bowes (PBI): Q3 EPS of $0.67 misses by $0.03. Revenue of $1.55B (+2.6%) vs. $1.6B. Sees full-year EPS of $2.75-2.82 vs. $2.85. (PR)
  • St. Mary Land (SM): Q3 EPS of $1.20 beats by $0.08. Revenue of $324M (+31.4%) vs. $329M. Shares +1.2%. (PR)
  • Viacom (VIA): Q3 EPS of $0.62 beats by $0.07. Revenue of $3.41B (+4.2%) vs. $3.32B. Shares +1.5%. (PR)

Today's Markets

  • Asia closed mixed Tuesday. Tokyo was the standout, +6.27% to 9,115. Shanghai -0.76% to 1,707. Hang Seng +0.28% to 14,384. BSE Sensex +2.84% to 10,631.
  • European markets posted strong morning gains. London +1.75%. Paris +2.1%. Frankfurt +2%.
  • U.S. futures are markedly higher at 7:00 AM. Dow +1.88% to 9506. S&P +1.96% to 988.50. Nasdaq +2.18%. Crude +1.16% to $64.65. Gold +1.49% to $737.60.

Tuesday's Economic Calendar

Seeking Alpha editor Rachael Granby contributed to this post.


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]]> Tue, 04 Nov 2008 07:19:28 -0500 SA Editor Eli Hoffmann
  • Even more firms may gain access to TARP. Sources say the Treasury may use some of its $700B rescue fund to buy stakes in financing companies such as GE's (GE) GE Capital and CIT Group (CIT). Presently the program only includes publicly-traded banks and insurers, although the Treasury is already mulling opening the door to some privately-held firms. The U.S. government could eventually own even more of the American financial system than first envisioned.
  • Yahoo, Google tone down ad tie-up. Yahoo (YHOO) and Google (GOOG) submitted a revised version of their search-ad pact to the Justice Department in the hope gaining approval. New provisions limit the scope of the deal, including shortening the agreement to two years from ten, and capping Yahoo's revenue from the deal to 25% of its search revenue total; previously there was no cap. The revised plan also gives Google advertisers the ability to opt out of having their ads displayed on Yahoo sites. It's unclear whether the changes will suffice to appease regulators who worry the deal will allow Google (GOOG) to monopolize online advertising. Separately, Yahoo said Monday Microsoft (MSFT) executive Jeff Dossett will take the lead position in its online media properties after veteran Scott Moore left "for other opportunities."
  • UBS posts earnings, warnings. UBS (UBS) confirmed a Q3 profit of 296M Swiss francs ($256.3M) helped by credit and tax gains, with outflows of 49.3B francs from its wealth management unit and 34.4B francs from its asset management unit. The world's largest wealth manager, UBS had already reported much of its Q3 results last month when it announced a capital injection of 6B franc from the Swiss government and said it would unload $60B of risky assets into a central bank fund. UBS noted some positive client money flows in October, but warned 'difficult' market conditions would hurt fee-earning businesses and Q4 results would be weighed down by the accounting effects of transferring risky assets. Shares -2.6% premarket.
  • Outlook sours for RBS. Royal Bank of Scotland (RBS) abandoned its full-year profit forecast after it wrote-down £1B in October against assets connected to Lehman Brothers and Icelandic banks and as bad loans rose. It also posted £1.4B of markdowns in Q3 before new accounting rules allowed it to claim back £1.2B. CEO Stephen Hester said the latest writedowns, coming in addition to £5.9B in H1, show the bank has too much risk and could face a full-year loss. RBS is in line for a U.K. bailout, and the government could own up to 60% of the bank unless investors buy some of the £20B of stock to be issued later this year. Shares -14.9% premarket.
  • Goldman hedge fund down $1B. A flagship Goldman Sachs (GS) hedge fund - Goldman Sachs Investment Partners - has lost almost $1B of its $6B since its launch in January, further evidence of the crisis facing the industry. "We anticipate that these results will lead to net outflows from the hedge fund industry," managers said, although GSIC itself imposed a two-year lock-in at inception. More than half of its 13% Q3 loss was on positions in commodities, basic materials, metals, mining, energy and agriculture.
  • Tough 2009 for JPMorgan. JPMorgan (JPM) CEO Jamie Dimon told employees the firm faces "highly challenging conditions" in 2009, but sees a possible "strong recovery" in 2010. JPM's recent acquisitions of Bear Stearns and WaMu will improve performance in the "longer term," he said. Dimon warned Asia is "going to get worse than you think" as the tidal wave that began with a collapse of the U.S. mortgage market washes over it. Still, longer-term, he sees "very substantial natural growth" in the region.
  • iPod master leaves Apple. Tony Fadell, one of the fathers of the iPod, is leaving Apple (AAPL) for personal reasons, sources say. Former IBM (IBM) executive Mark Papermaster will take his place. During Fadell's tenure, the iPod grew from a curiosity into a major cash cow; Apple sold 54.7M iPods during its most recent fiscal year. But growth has cooled off as saturation becomes a factor in many countries. Still, Apple shows no signs of giving up any of its 70% U.S. market share.
  • Dismal October for automakers. General Motors (GM) said October was likely the auto industry's worst month since WWII after its sales plunged 45%, Ford's (F) fell 30%, Nissan's (NSANY) declined 33%, Honda's (HMC) dropped 25%, while Toyota's (TM) declined by 23%. GM marketing chief Mark LaNeve said he believes there's plenty of pent-up demand, "but until the credit markets open up and consumer confidence improves, the entire U.S. economy, and any industry like autos that relies on financing, will suffer." U.S. auto sales are now down 14.6% YTD. "It's weaker than we were anticipating," J.D. Power's Bob Schnorbus said, warning leaders should take heed: "The auto industry is important to the economy and it should not be taken too lightly."
  • Manufacturing paints bleak picture. The ISM's Manufacturing index fell to 38.9 in October, its lowest level since 1982, and worse than the expected 41.5. The only industries reporting growth were apparel and leather & allied products. Petroleum & coal and nonmetallic mineral products led the laggards. The weaker than expected data increases the risk the current slump will outdo the recessions of 2001 and 1991. Companies are cutting back on investments and hiring as Q3 consumer spending plunged by 3.1% - the biggest decline in 28 years. The survey "indicates a significantly faster rate of decline in manufacturing when comparing October to September," ISM director Norbert Ore said. "It appears that manufacturing is experiencing significant demand destruction as a result of recent events." Prices also rose at a much slower rate: the price index plunged to 37 from 53.5 in September - the lowest level since December 2001. Export orders dropped for the first time in 70 months.
  • September Construction Spending fell 0.3% from August's revised numbers, better than the expected 0.8% drop. Residential private construction -1.3%; non-residential +1.2%.

Earnings: Before Open

  • Ameren (AEE): Q3 EPS of $1.17 misses by $0.08. Revenue of $2.06B (+3.2%) vs. $2.29B. Sees full-year EPS of $2.80-3.00 vs. $3.01. Shares -5.3%. (PR)
  • Archer Daniels Midland (ADM): FQ1 EPS of $1.63 vs. consensus of $0.69. Revenue of $21.16B (+65%) vs. $15.98B. (PR)
  • Autodesk (ADSK): Sees Q3 EPS of $0.53-0.55 vs. $0.55 consensus and revenue of $604-607M vs $624M. "The sharp downturn of the global economy is substantially impacting our business... Demand for our products fell dramatically in October in all geographies as the financial crisis worsened. (PR)
  • Cimarex Energy (XEC): Q3 EPS of $2.19 misses by $0.07. Revenue of $576.5M (+67.7%) vs. $568M. (PR)
  • Dean Foods (DF): Q3 EPS of $0.28 misses by $0.03. Revenue of $3.19B (+2.5%) in-line. (PR)
  • Emerson Electric (EMR): FQ4 EPS of $0.88 beats by $0.02. Revenue of $6.7B (+11.1%) in-line. (PR)
  • GrafTech (GTI): Q3 EPS of $0.55 beats by $0.10. Revenue of $316M (+25.7%) vs. $303M. Shares +6.7%. (PR)
  • HCP Inc. (HCP): Q3 FFO of $0.71/share beats by $0.05. Revenue of $270M vs. $242M. Sees full-year FFO of $2.38-2.42 vs. $2.29. (PR)
  • Holly (HOC): Q3 EPS of $1.00 beats by $0.13. Revenue of $1.72B (+42.3%) in-line. (PR)
  • Louisiana-Pacific (LPX): Q3 EPS of -$0.38 misses by $0.08. Revenue of $390M (-17.5%) in-line. (PR)
  • Magna International (MGA): Q3 EPS of $0.17 vs. consensus of $0.90. Revenue of $5.53B (-9%) in-line. (PR)
  • Marvel Entertainment (MVL): Q3 EPS of $0.64 beats by $0.19. Revenue of $182.5M (+47.7%) vs. $146M. Sees full-year EPS of $2.45-2.65 vs. $1.93 and 2009 EPS of $1.00-1.35 vs. $1.94. (PR)
  • Myriad Genetics (MYGN): FQ1 EPS of $0.30 beats by $0.16. Revenue of $74M (+52.4%) vs. $70M. (PR)
  • NiSource (NI): Q3 EPS of $0.03 in-line. Revenue of $1.42B (+11.8%) vs. $1.36B. (PR)
  • PPL Corp. (PPL): Q3 EPS of $0.45 misses by $0.15. Sees full-year EPS of $2.00-2.05 vs. $2.29, and 2009 EPS of $1.60-1.90 vs. $2.17. "Many of the pressures that affected our results in 2008 also are expected to continue into 2009..." (PR)
  • Rowan (RDC): Q3 EPS of $1.00 beats by $0.13. Revenue of $527M (+5%) vs. $540M. "Continuing weakness in capital markets and commodity prices will, eventually, affect customer demand for our products and services, though we have experienced little impact thus far." (PR)
  • St. Joe (JOE): Q3 EPS of -$0.12 misses by $0.12. Revenue of $32.8M (-57.6%) vs. $47.3M. (PR)
  • Talisman Energy (TLM): Q3 EPS of $0.72 beats by $0.08. Revenue of $2.82B (+50.9%) vs. $2.89B. (PR)
  • Tenneco (TEN): Q3 EPS of $0.01 misses by $0.22. Revenue of $1.5B (-3.8%) in-line. (PR)
  • Tenet Healthcare (THC): Q3 EPS of -$0.06 misses by $0.03. Revenue of $2.14B (+5.2%) vs. $2.21B. Shares +14.1%. (PR)
  • W&T Offshore (WTI): Q3 EPS of $0.79 misses by $0.03. Revenue of $290M (+13.6%) vs. $276M. (PR)

Earnings: Monday After Close

  • Automatic Data Processing (ADP): FQ1 EPS of $0.54 beats by $0.04. Revenue of $2.18B (+9.5%) in-line. Shares -2.5%. (PR)
  • Coldwater Creek (CWTR): Sees Q3 sales of $225M vs. $265M consensus, and EPS of -$0.07 to -$0.09 vs. $0.03 consensus. "The overall macro-economic environment has proven to be substantially more challenging than anticipated." Shares -5.9%. (PR)
  • Comstock Resources (CRK): Q3 EPS of $1.20 beats by $0.20. Revenue of $169M (+103.7%) vs. $158M. (PR)
  • Embraer (ERJ): Q3 EPS of $0.32 misses by $0.07. Revenue of $1.55B (+8.1%) vs. $1.63B. (PR)
  • EOG Resources (EOG): Q3 EPS of $2.34 beats by $0.10. Revenue of $3.22B (+226.5%). Shares +1.9%. (PR)
  • Forest Oil (FST): Q3 EPS of $1.26 misses by $0.12. Revenue of $474M (+51.5%) vs. $465M. (PR)
  • Herbalife (HLF): Q3 EPS of $0.89 beats by $0.03. Revenue of $M in-line. Sees Q4 EPS of $0.65-0.70 vs. $0.91, and 2009 EPS of $3.50-3.55 vs. $3.71. Shares -13.5%. (PR)
  • MasterCard (MA): Q3 EPS of $2.47 beats by $0.22. Revenue of $1.34B (+23.7%) vs. $1.27B. Gross dollar volume rose 12.3%. "As we are not immune from the long-term effects of the current economic environment, we have significantly accelerated the focus on our cost structure..." Shares +8%. (PR)
  • Mohawk Industries (MHK): Q3 EPS of $1.10 misses by $0.02. Revenue of $1.76B (-9%) in-line. (PR)
  • Open Text (OTEX): Q3 EPS of $0.53 beats by $0.03. Revenue of $183M (+11.4%) vs. $179M. Shares -1.1%. (PR)
  • Pepco Holdings (POM): Q3 EPS of $0.59 misses by $0.11. Revenue of $3.06B (+10.4%) vs. $2.73B. (PR)
  • Pitney Bowes (PBI): Q3 EPS of $0.67 misses by $0.03. Revenue of $1.55B (+2.6%) vs. $1.6B. Sees full-year EPS of $2.75-2.82 vs. $2.85. (PR)
  • St. Mary Land (SM): Q3 EPS of $1.20 beats by $0.08. Revenue of $324M (+31.4%) vs. $329M. Shares +1.2%. (PR)
  • Viacom (VIA): Q3 EPS of $0.62 beats by $0.07. Revenue of $3.41B (+4.2%) vs. $3.32B. Shares +1.5%. (PR)

Today's Markets

  • Asia closed mixed Tuesday. Tokyo was the standout, +6.27% to 9,115. Shanghai -0.76% to 1,707. Hang Seng +0.28% to 14,384. BSE Sensex +2.84% to 10,631.
  • European markets posted strong morning gains. London +1.75%. Paris +2.1%. Frankfurt +2%.
  • U.S. futures are markedly higher at 7:00 AM. Dow +1.88% to 9506. S&P +1.96% to 988.50. Nasdaq +2.18%. Crude +1.16% to $64.65. Gold +1.49% to $737.60.

Tuesday's Economic Calendar

Seeking Alpha editor Rachael Granby contributed to this post.


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Complete Story »]]> AAPL ADM ADP ADSK CIT CRK CWTR DF DIA EMR EOG ERJ F FST GE GLD GMGMQ.PK GOOG GS GTI HCP HLF HMC HOC IBM JOE JPM LPX MA MGA MHK MSFT MVL MYGN NI NSANY OTEX PBI POM PPL QQQQ RBS RDC SM SPY TEN THC TLM TM UBS USO VIA WTI XEC YHOO SA Editor Eli Hoffmann Tenneco: The Benefits of Buying When Nobody's Looking http://seekingalpha.com/article/97876-tenneco-the-benefits-of-buying-when-nobody-s-looking?source=feed 97876 As the nation digests Washington’s disgusting partisan failure today, we remain focused solely on the financial industry. With good reason, companies like Wachovia (NYSE:WB), JPMorgan (NYSE:JPM), and Morgan Stanley (NYSE:MS) are getting all the attention.

Meanwhile, thanks to a less controversial multi-billion-dollar government bailout that has already made its way through Congress, another very important arm of the American economy will survive to see another day. It is creating some great profit opportunities, while teaching us about an important investment strategy: Buy when nobody is looking.

]]> Mon, 29 Sep 2008 16:43:36 -0400 Andrew Snyder Andrew Snyder submits:

As the nation digests Washington’s disgusting partisan failure today, we remain focused solely on the financial industry. With good reason, companies like Wachovia (NYSE:WB), JPMorgan (NYSE:JPM), and Morgan Stanley (NYSE:MS) are getting all the attention.

Meanwhile, thanks to a less controversial multi-billion-dollar government bailout that has already made its way through Congress, another very important arm of the American economy will survive to see another day. It is creating some great profit opportunities, while teaching us about an important investment strategy: Buy when nobody is looking.


Complete Story »]]> BWA JCI TEN Andrew Snyder 41 Stocks Returning 10% or More Last Week http://seekingalpha.com/article/91343-41-stocks-returning-10-or-more-last-week?source=feed 91343 This week's list of top performers has high exposure to retail and solar; areas we have been moving into the past few weeks with greater weightings.... but more into solar than retail for the fund. This list continues to show us that "beaten down" merchandise from the past year is the market's favorite right now. At the very bottom of the entry I also posted the top returners in the $1B to $1.75B range of market capitalization since we are increasingly buying some smaller fare.

Criteria

]]> Sun, 17 Aug 2008 17:38:09 -0400 Trader Mark Trader Mark submits:

This week's list of top performers has high exposure to retail and solar; areas we have been moving into the past few weeks with greater weightings.... but more into solar than retail for the fund. This list continues to show us that "beaten down" merchandise from the past year is the market's favorite right now. At the very bottom of the entry I also posted the top returners in the $1B to $1.75B range of market capitalization since we are increasingly buying some smaller fare.

Criteria


Complete Story »]]> AIXG ALK ASCA CLWR CREE CTRP CVC CY DISCA DRYS EL ELN ENER ENS ERJ ESC EXM FOSL GA GEO GMGMQ.PK GNK HANS HTV IHS IOC IRF JCP KSS LDG LDK LII LVS MBI MTL NRG NTES NVDA ONXX OTEX PBEGF.PK PDC PENN PETD SBUX SOL SPWRA STP STX TEN TOL TSL UAUA UB WEN WFR WINN Trader Mark Tenneco Inc. Q2 2008 Earnings Call Transcript http://seekingalpha.com/article/89015-tenneco-inc-q2-2008-earnings-call-transcript?source=feed 89015 Tenneco Inc. (TEN)

Q2 2008 Earnings Call

July 31, 2008 11:00 am ET

]]> Mon, 04 Aug 2008 20:05:24 -0400 Tenneco Inc. (TEN)

Q2 2008 Earnings Call

July 31, 2008 11:00 am ET


Complete Story »]]> TEN