Tue, Oct. 14, 3:31 PM
- Global growth, foreign-exchange, oil, and small caps are the subject of every client inquiry, says David Kostin. His team's recommendation: Buy "American exceptionalism."
- In Kostin's view, U.S. economy and corporate fundamentals are still strong, with economic growth expected by Goldman economists to be 3.2% next year, the fastest expansion since 2005. Europe is expected to grow just 1%.
- What his team likes are those stocks of companies which have a high proportion of domestic sales, plus sectors like Consumer Staples (XLP -0.1%) and Discretionary (XLY +0.7%) which stand to benefit from lower oil prices (plunging again today).
- As for small caps (IWM +0.9%), Kostin is wary, noting downward earnings revisions have boosted small cap P/E ratios even as prices have declined.
- The list of S&P 500 names capturing two or more of Kostin's themes: GT, GM, PCLN, AMZN, CMCSA, LOW, DG, TSN, ADM, CVS, AVP, WAG, PXD, HAL, JPM, BAC, SCHW, PNC, MS, C, GNW, LNC, MET, THC, AET, UNH, ESRX, HUM, WLP, BIIB, GILD, DAL, CMI, FLR, CRM, JBL, MA, FB, MU, FSLR, VMC, MON, T.
Fri, Oct. 10, 12:54 PM
Tue, Sep. 30, 9:21 AM
- Vulcan Materials (NYSE:VMC) reports that it has completed six acquisitions during Q3 totaling approximately $320M of investment, including five aggregates facilities and associated downstream assets in Arizona and New Mexico, as well as an aggregates operation in Delaware.
- The structure of these transactions along with an earlier investment in reserves at a key quarry serving San Diego has enabled the company to defer income taxes on approximately $145M in capital gains.
Mon, Aug. 18, 8:55 AM
- Martin Marietta (NYSE:MLM) has completed the divestitures required by the DOJ to clear its acquisition of Texas Industries (NYSE:TXI).
- The company sold one quarry in Oklahoma and two rail yards in Texas to Vulcan Materials (NYSE:VMC).
- Vulcan Materials notes that its acquisitions will enhance its ability to serve customers in the greater Dallas market.
Tue, Aug. 5, 9:32 AM
Tue, Aug. 5, 8:06 AM| Comment!
Mon, Jul. 14, 8:35 AM
Fri, Jul. 11, 12:14 PM
Wed, Jul. 2, 12:39 PM
- Shares of companies that rely on federal infrastructure investment are lower after the Obama administration warns that federal funding for bridge and highway repair would be curtailed beginning Aug. 1 without congressional action.
- The current two-year law authorizing federal road spending expires in September, a deadline that can be extended.
- Martin Marietta (MLM), which announced earlier that it had completed its acquisition of Texas Industries, -2.9%; also, EXP -1.6%, VMC -1.3%, GVA -0.9%.
Fri, May. 9, 2:57 PM
Tue, May. 6, 8:05 AM| Comment!
Mon, Apr. 21, 11:59 AM
- Once Holcim (HCMLF, HCMLY) and Lafarge (LFGEF, LFRGY) start shedding assets across the world to complete their $40B merger and satisfy antitrust regulators, cement producers from Europe to the U.S. are likely to start lining up with offers.
- Bloomberg says likely bidders for North American cement plants may include Europe’s HeidelbergCement (HDELY) and Titan Cement (TITCF), as well as Mexico’s Cemex (CX) and Ireland's CRH; for businesses in cement aggregates - crushed rock, gravel and sand - potential buyers are Vulcan Materials (VMC) and Martin Marietta Materials (MLM), as well as P-E firms.
- These are prime assets that don’t come up for sale often, so almost everyone in the industry will take a look, a Cantor Fitzgerald analyst says.
Mon, Apr. 21, 10:28 AM
- Citi analysts post their list of 50 top Buy-rated stocks with a market cap of at least $3B, at least a top-three market share in a third of their businesses, and a global reach as measured by significant revenue outside of their home market; Business Insider highlights 20 according to estimated total return.
- Gilead Sciences (GILD) tops the list with a 45.4% ETR, and Citi believes GILD will generate a significant amount of cash and will buy back stock, engage in product and company acquisitions to grow its pipeline, and potentially start providing a dividend in 2-3 years.
- Rounding out the top 20: FB, BX, V, CERN, FLT, BA, MA, LVS, SBUX, MJN, GOOG, EBAY, BIIB, AXP, HOG, VFC, PII, VMC, FTI.
Fri, Apr. 4, 10:40 AM
- Holcim (HCMLF +2.4%) and Lafarge (LFRGY +6.7%), the world’s two largest cement makers, are exploring a potential merger of equals that would create a company with a combined market value of more than $50B, Bloomberg reports.
- Holcim and Lafarge combining would allow the companies to cut production costs by melding production capabilities and cutting excess capacity, but a merger could face heavy antitrust issues from multiple governments.
- Peers are rising on the news: CX +4.2%, VMC +2.1%, MLM +3.4%, CRH +2.8%, GVA +0.3%.
Fri, Feb. 14, 1:27 PM
Thu, Feb. 6, 8:08 AM
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