Daily Archives: October 29, 2008

First Solar Saves The Solar Power Sector (FSLR, SPWRA, STP, LDK, CSIQ, SOLR, ESLR)

First_solar_logo_2First Solar, Inc. (NASDAQ: FSLR) has finally given its guidance from the conference call, and it looks like this and additional supply contracts will be good news for the entire solar sector and may even spill over into other alternative energy stocks.

The company announced a 525 megawatt long-term module supply pact with Sorgenia Solar for solar power plants in Italy and extended pacts with existing customers allowing for an additional $800 million spread from 2009 to 2013.

First Solar shares were floating around the break-even mark in theafter-hours session before its guidance and before its supply pactannouncement.  But now shares are up 10% at $127.50.Below is the rest of the data:

As you will see below, this is causing a major rally in almost all of the other solar power stocks:

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Posted on: October 29, 2008 – 4:43 pm in Alternative Energy, Earnings, , , , , , ,

Biogen Finds More PML In The Woodpile (BIIB)

Biogen_logoBiogen Idec Inc. (NASDAQ: BIIB has notified regulatory agencies of a confirmed case of progressive multifocal leukoencephalopathy (PML) in a multiple sclerosis patient treated with TYSABRI .

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Posted on: October 29, 2008 – 3:57 pm in Biotech,

First Solar Scores on Earnings, But No Guidance Yet (FSLR)

First_solar_logo_3THIS STORY HAS BEEN UPDATED AFTER THE COMPANY OFFERED GUIDANCE & SUPPLY PACT DATA.  THE FULL STORY CAN BE SEEN HERE: 

First Solar Saves The Solar Power Sector (FSLR, SPWRA, STP, LDK, CSIQ, SOLR, ESLR)

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Posted on: October 29, 2008 – 3:23 pm in Alternative Energy, Earnings,

CME’s Mixed Bag (CME)

CME Group Inc. (NYSE: CME) has reported earnings of $2.81 GAAP EPS on revenue of $681 million, but non-GAAP earnings were $4.13 EPS if you include NYMEX and CME merger operations. 

The numbers today are going to be harder for analysts and traders to interpret because of all the combined businesses.

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Posted on: October 29, 2008 – 3:13 pm in Earnings, Exchange News,

The 52-Week Low Club (VSE)(WSM)(PPC)(MCK)(VPRT)(CLNE)

Sad_clownVerasun Energy (VSE) Rumor that ethanol company may go Chapter 11. Drops to $.40 from 52-week high of $17.75.

Williams-Sonoma (WSM) Who can afford to decorate a home? Earnings fall. Sells off to $7.26 from 52-week high of $31.88.

Pilgrim’s Pride (PPC) Lenders extend debt, but market is still nervous. Down to $1.10 from 52-week high of $30.15.

McKesson (MCK) Weak guidance. Slips to $35.50 from 52-week high of $68.43.

Vistaprint (VPRT) Bad forecast and downgrades. Daily double. Plunges to $16 from 52-week high of $48.60.

Clean Energy Fuels (CLNE) Plan to raise money hurts shares. Falls to $6.62 from 52-week high of $19.95.

Douglas A. McIntyre

Posted on: October 29, 2008 – 2:50 pm in HI/LOW, , , , , ,

Petrobras Gets Analyst Greenlight After 70% Drop (PBR)

Petrobras_logoThe ADR’s of Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, have gotten a boost today.  This is not just in conjunction with the rally seen in other oil and gas stocks from earnings.  Morgan Stanley has initiated coverage of the Brazilian oil giant  with an "overweight" rating and a $38.00 price target. 

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Posted on: October 29, 2008 – 1:44 pm in Analyst Calls, Emerging Markets, Oil & Gas,

Fed’s Comments Don’t Signal Negative GDP

Federal_reserve_logo_2The FOMC decision on interest rates was due at 2:15 PM EST, and we got a rate cut decision a tad late today  A cut was already expected and the only real variable was whether this would be a token 25 basis-point cut or if it would be a much deeper cut of 50 basis-points or more. 

The Fed Funds rate has been cut by 50 basis- points to 1.00% from 1.50%.  The FOMC has also cut the discount rate by 50 basis-points to 1.25% from 1.75%.  The actual comments from the decision posted is where the real meat is.

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Posted on: October 29, 2008 – 1:25 pm in Economy

Toll Files To Raise Cash (TOL)

Toll_bros_logoDid you think you would see a home builder file an open shelf registration statement to raise cash in the current market or in the state of housing and the economy today?   Toll Brothers Inc. (NYSE: TOL) has just filed a shelf statement at the SEC which will allow the luxury home builder to sell any combination of common stock, preferred stock, warrants, or debt in the parent company or in any of its subsidiaries.

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Posted on: October 29, 2008 – 12:53 pm in Housing, Secondary Offering,

Oil Sands Still Producing Cash (SU)

Oil_sands_imageCanadian oil company Suncor (NYSE:SU) today reported quarterly earnings of $815 million ($0.87 EPS), compared with analysts’ estimates for EPS of $0.95. Higher prices for the company’s synfuel production contributed to the increase, which would have been higher if costs could have been contained.

Cost is the story in the oil sands play these days. Operating costs perbarrel for the third quarter reached $34.00, compared with $25.10 forthe same period a year ago. Higher natural gas costs were the mainculprit, and it would be foolish to think that this cost will declineanytime soon.

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Posted on: October 29, 2008 – 12:30 pm in Uncategorized,

Great New Hess Discovery: Its Earnings (HES)

Oil_well_logo_2Now that refining margins are once again improving, integrated oil companies like Hess (NYSE:HES) are starting to get well. Today Hess reported EPS of $2.37 for the third quarter of 2008, a nickel short of analysts’ estimates. Revenues of $11.39 billion topped estimates of $10.16, but were about $350 million lower sequentially.

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Posted on: October 29, 2008 – 12:24 pm in Earnings, Oil & Gas,

Cybex Treadmill Recall, One More Woe (CYBI)

Cybex_treadmillCybex International Inc. (NASDAQ: CYBI) has another issue to worry about besides a stalling economy and weak sales of exercise equipment ahead.  The Consumer Product Safety Commission released today that the company is subject of a product recall for roughly 19,000 treadmills.  The Cybex recall is for treadmill risks due to fall hazards where the machine can unexpectedly speed up without notice due to a malfunction with the lower control board.

The company has received 24 reports of incidents involving thetreadmill unexpectedly increasing speed, including six reports ofconsumers falling. Three of those incidents resulted in minor injuries.  This has also come at a price on its stock, and the company’s shareholders probably don’t want any more financial injury on top of product injury.

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Posted on: October 29, 2008 – 12:04 pm in Product Review, Shareholder Issues,

GM (GM) Up 9% On Merger Rumors

Gm20jpeg20image_2GM (GM) shares are up 9% on rumors that all major issues needed to set up a merger with Chrysler have been worked out with Cerberus which owns a majority of the smaller car company.

Many analysts think the marriage will result in the loss of 35,000 jobs.

The merger cannot be done without support from the federal government. GM does not have the capital to pay severance and other cash costs needed for an integration.

So, the Federal Reserve may lend GM $10 billion to put a huge number of taxpayers out on the streets.

Douglas A. McIntyre

Posted on: October 29, 2008 – 12:03 pm in Autos,

Apple and a Monster Stock Buyback (AAPL)

Applelogo1Apple Inc. (NASDAQ: AAPL) is doing well today on word that the company "may" do a share buyback.  This comes after a Bernstein report from this morning titled "Apple: Time for a Buyback?" from analyst Toni Sacconaghi, Jr.

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Posted on: October 29, 2008 – 11:15 am in Consumer Electronics, PC Companies, Stock Buybacks, Technology Companies,

First Solar Earnings To Set Alt. Energy Stock Trends For Weeks (FSLR, SPWRA, STP, LDK, CSIQ, SOLR)

First_solar_logoToday is going to be a very interesting day for shareholders of First Solar, Inc. (NASDAQ: FSLR) and holders of any other solar energy and alternative energy players.  The solar leader is set to report earnings after the close.  The good news is the same as the bad news.  This may set the pace and opinion of many solar stocks and many alternative energy stocks for the next few weeks.

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Posted on: October 29, 2008 – 10:39 am in Alternative Energy, Earnings, , , , , ,

PetroChina Earnings Rise, Chinese Drivers Pay (PTR, COP, SNP)

Petrochina_logo_3PetroChina (NYSE:PTR) is China’s largest energy company, and it’s getting bigger. The company reported quarterly earnings of $5.83 billion this morning, up 30% from the same period a year ago. Analysts polled by Reuters expected RMB34.9 billion, compared with the actual profit of RMB39.89 billion ($1.00 equals approximately RMB6.85). PetroChina’s revenues totaled about $44.45 billion.

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Posted on: October 29, 2008 – 10:21 am in China, Earnings, Oil & Gas, , ,

CME Owners Bracing For Earnings (CME)

Cme_logoCME Group Inc. (NYSE: CME) is set to report earnings after the close of trading today.  The futures and commodities exchange giant estimates (from First Call) are $3.98 EPS and $644.3 million in revenues.  Exchanges and financial companies do not offer guidance, but next quarter estimates are $4.02 EPS and almost $712 million in revenues.

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Posted on: October 29, 2008 – 9:47 am in Earnings, Exchange News,

Another Flowing Pipeline (BPL)

Oil_gas_pipeline_picMaster limited partnership Buckeye Partners (NYSE:BPL) reported third quarter earnings before the market opened this morning. Total revenues of $496 million surpassed analysts’ estimates of $485.7 million, and earnings of $0.79/common unit beat estimates by $0.04. Buckeye will distribute $0.875/unit for the quarter, bringing its annualized distribution to $3.50/unit.

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Posted on: October 29, 2008 – 9:00 am in Earnings, Oil & Gas,

Gold Miners Adapt To Mixed Environment (GFI, NEM)

Gold_picSouth Africa-based Gold Fields Ltd. (NYSE:GFI) and US-based Newmont Mining (NYSE:NEM) both reported quarterly earnings before the market opened this morning.

Newmont beat EPS estimates by a penny and missed revenue estimates by about $60 million. Gold Fields did a bit worse: it missed EPS estimates of $0.05, reporting just $0.01, and missed revenue estimates of $745.66 million, hitting $740 million.

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Posted on: October 29, 2008 – 8:58 am in Commodities, Earnings, Metals, ,

Even Asia Is Weak For GM (GM)

Gm20jpeg20imageIt has been clear for some time that GM’s (GM) sales in the US and Europe have been poor and are likely to stay that way. The company said that in the third quarter the situation was worse than many analysts expected. North America sales down 18.9% and Europeans sales were down 12.3%

GM had pinned it hopes on Latin America, where it has done well for some time, and Asia where auto sales or most global car companies have been good as ownership levels rise.

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Posted on: October 29, 2008 – 8:05 am in Autos,

Day Trader Alert: Big Pre-Market Drops on Guidance (MOLX, STM, VPRT, WSM)

Down_arrow_redWe have seen earnings disappointments or guidance disappointments from many companies over the recent weeks.   Molex Inc. (NASDAQ: MOLX), STMicroelectronics N.V. (NYSE: STM), VistaPrint (NASDAQ: VPRT), and Williams-Sonoma (NYSE: WSM) are all trading lower this morning after their earnings and guidance.

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Posted on: October 29, 2008 – 8:01 am in Earnings, HI/LOW, Trading Alert, , , ,