What is interesting is that there is a very mixed bag out there in the parts sector. Overweight ratings were seen in the following stocks: Autoliv Inc. (NYSE: ALV); BorgWarner Inc. (NYSE: BWA); Delphi Automotive PLC (NYSE: DLPH); Gentex Corp. (NASDAQ: GNTX); Harman International Industries (NYSE: HAR); Tenneco Inc. (NYSE: TEN); and TRW Automotive Holdings Corp. (NYSE: TRW).

We saw at least three “Underweight” ratings that are acting as an overhang: American Axle & Manufacturing Holdings Inc. (NYSE: AXL); Magna International, Inc. (NYSE: MGA); and Tower International, Inc. (NYSE: TOWR). All three are in the red this morning.

Neutral ratings are effectively a nonstarter, as they are neither helping nor hurting shares in general: Dana Holding Corp. (NYSE: DAN); Johnson Controls Inc. (NYSE: JCI); Lear Corp. (NYSE: LEA); and Visteon Corp. (NYSE: VC). We are seeing mixed trading up and down in the Neutral ratings.

JON C. OGG

Cummins lowered its full-year revenue outlook and now sees 2012 revenues to be in line with 2011.  Cummins had previously been targeting 10% growth in 2012 over 2011.  Second quarter revenues are expected to be approximately $4.45 billion (versus $5.07 billion expected by Thomson Reuters) and the flattish sales would come to about $18.05 billion versus $19.8 billion expected by Thomson Reuters.

Ford Motor Co. (NYSE: F) confessed in the last couple of weeks that its sales were running soft in key growth markets outside of the United States and shares fell on that news.  This is also down by 1.6% at $9.30 today versus a 52-week low of $9.05.

A more comparable company would be truck-maker Navistar International Corporation (NYSE: NAV), and its shares are down another 8% at $21.75 on the day.  Another truck-maker in the soup is PACCAR Inc. (NASDAQ: PCAR) as its shares are down 3.9% at $35.96. Vehicle-maker Oshkosh Corporation (NYSE: OSK) is down only 2.6% at $20.17.

It is somewhat surprising that the more speculative player of Westport Innovations Inc. (NASDAQ: WPRT) is down less than 5% at $33.36.

We are seeing hardly any reaction to the companies supplying parts for consumer vehicles and many commercial parts suppliers.  Auto safety systems-maker Autoliv, Inc. (NYSE: ALV) is down only 1.2% at $53.42. Delphi Automotive PLC (NYSE: DLPH) is down only 0.75% at $26.46 on the day.

JON C. OGG

Last Friday, President Obama pointed to the improving labor market as a sign the economy is recovering. According to the jobs report released last week, companies hired more than 200,000 workers for the third consecutive month in February. The president, speaking to workers at a Rolls-Royce aircraft parts plant in Virginia, touted the 31,000 new manufacturing jobs, and suggested that manufacturing was fueling the recovery.

Read: American Cities Where Manufacturing is Booming

Indeed, manufacturing and exports appear to have been driving growth for some time, albeit slowly. According to a new Brookings report, U.S. exports, which represent 10.7% of gross domestic product, grew 11% in 2010, the fastest growth since 1997. The bulk of this growth, 75%, came from manufacturing.

In order to illustrate how export and manufacturing are fueling the economy, Brookings looked at exports in the 100 largest metropolitan areas in 2009 and 2010. Based on the Brookings report, 24/7 Wall St. identified the 10 cities where manufacturing fueled export growth the most.

Most of the cities where manufacturing is booming were once major industrial centers. Cities like Cleveland and Milwaukee were manufacturing hubs as early as the mid 1800s. In the late 1970s, however, manufacturing began declining and today represents only a fraction of GDP in these areas. Other industries have since taken larger shares of GDP and employment. For example, in Toledo, which was once a leader in auto manufacturing, the health care industry is now the city’s biggest employer. Today, manufacturing only accounts for 13% of the labor force in the metropolitan region.

For this reason, the impact manufacturing has had on these cities can be hard to detect. According to the Bureau of Economic Analysis, while exports have grown substantially in these regions, total GDP has not. Between 2009 and 2010, GDP grew at or below the national rate of 2.5% in six of the 10 cities.

Even though GDP growth was unimpressive in several of these cities, manufacturing and export growth may have been the difference between growing at a modest rate and not growing at all. Export growth was responsible for at least 61% of GDP growth in these cities. In Milwaukee, exports offset losses in other sectors, growing by $1.1 billion between 2009 and 2010, while GDP only grew by $944 million. Among the cities where manufacturing was fueling export growth most, manufacturing accounted for at least 88% of this growth.

It is clear these cities have some ways go before manufacturing’s impact is readily seen. Median income in these areas remains among the lowest in the country. Six of the 10 metropolitan areas are in the bottom third among major cities for income. Toledo, for example, has a median household income of just $43,260, the 11th lowest in the country. In many of these cities, median income fell even as manufacturing jobs increased. In fact, only one city of the 10 showed an increase in income. Meanwhile, the declines in income in the other cities were among the worst in the country.

24/7 Wall St. reviewed data on the 100 largest metropolitan areas from Brookings’ report “Export Nation: 2012, How Metropolitan Areas Are Driving National Growth.” Median household income data are from the U.S. Census Bureau. Also included from the Brookings report are GDP and GDP growth by region, exports and export growth by region, and export production jobs and export production growth by region.

These are the 10 cities where manufacturing is booming.

Microsoft (NASDAQ: MSFT) and Intel (NASDAQ: INTC) damaged by drop in PC sales worldwide.

The Flame Index started as a research tool in 2008 at the NY Innovation Design Lab (nyidlab). It was used as a general metric to evaluate companies and their risk in the media. Publicly traded Fortune 500 companies are used as a measure to calculate an overall market of negative news and the companies are ranked within that market

Data and ranking provided by the Flame Index.

The Washington Post’s Kaplan division will cut staff as revenue falls. The Citigroup dta breach received bad press worldwide.

The Flame Index started as a research tool in 2008 at the NY Innovation Design Lab (nyidlab). It was used as a general metric to evaluate companies and their risk in the media. Publicly traded Fortune 500 companies are used as a measure to calculate an overall market of negative news and the companies are ranked within that market.

Data and ranking provided by the Flame Index.

Women, who  make up about 40% of the students at elite business schools,  have an especially difficult time moving into the ranks of senior management at America’s largest public companies. New data from the research from the nonprofit Catalyst shows that 60 of the Fortune 500 corporations have no female directors. Out of the same group, 136 companies have no women among their top five executives.  Moreover, there are 26 Fortune 500 firms which have neither a female board member nor a woman in executive management. The data came from proxy statements filed as of June 30, 2010.  24/7 Wall St. research found that four companies have added a female director since then: Philip Morris, Blockbuster, Virgin Media, and Synnex.

After we reviewed the Catalyst data, the companies were categorized by industry, and 24/7 Wall St. examined their corporate websites to see whether they had any women in top management at all. When we did find someone, they were usually in human resources, public relations, investor relations, or accounting.

The figures are outrageous and point to lingering misogyny in the board rooms and executive suites of a number of America’s largest companies. It is incomprehensible how public companies in the 21st Century can manage to exclude women from such critical roles.

1) Autoliv (ALV)
Autoliv makes and distributes automotive safety products, such as airbags and seat belts.
-Company lists no women on management team.

2) Cameron International (CAM)
Cameron International is a global provider of flow equipment products, systems, and services to oil, gas, and process industries.
-Rozlin Larkey – Vice President of Human Resources
-Grace B. Holmes – Corporate Secretary

3.) CC Media Holdings (CCMO.PK)
CC Media Holdings, the parent company of Clear Channel Communications, is a media company that works in radio and advertising.
-Company lists no women on management team.

4.) CHS (CHSCP)
CHS, which occupies the 91st position on the Fortune 500, is a diversified energy, grains, and food company.
-Company lists no women on management team.

5.) Emcor Group (EME)
Emcor group designs and constructs electrical and mechanical systems, including transformers, generators, and power cables.
-Mava K. Heffler – Vice President of Marketing and Communications

6.) Energy Transfer Equity (ETE)
Energy Transfer Equity, which owns the general partner of Energy Transfer Partners, transports natural gas throughout the United States.
-Company lists no women on management team.

7.) EOG Resources (EOG)
EOG Resources is one of the largest independent natural gas and oil companies in the United States.  As of the end of 2009, it employed approximately 2,100 people.
-Maire Baldwin – Vice President of Investor Relations
-Patricia Edwards – Vice President of Human Resources
-Ann Janssen – Vice President of Accounting

FULL ARTICLE FROM MORNINGSTAR

ASM International N.V. (NASDAQ:ASMI) rose over 5% to a yearly high of $24.69 after the semiconductor equipment maker was upgraded by Fortis Bank Nederland NV.

Autoliv Inc. (NYSE: ALV) rose over 3% to a yearly high of $41.84 after the airbag manufacturer said that production is holding up well in the fourth quarter.

Chico’s FAS Inc. (NYSE: CHS) rose over 14% to a yearly high of $15.43 after the women’s clothes retailer announced 3Q earnings of $0.13 per share, nearly doubling analysts expectations.  

General Growth Properties Inc. (OTC: GGWPQ) rose over 35% to a yearly high of $6.19 after Simon Property Group Inc. (NYSE: SPG) announced that it had hired Lazard Ltd to lookk into buying assets from General Growth.  

Longtop Financial Technologies Limited (NYSE: LFT) rose nearly 10% to a yearly high of $35.30 after the Chinese software developer said that it had added 3.7 million additional American depositary receipts priced at $31.25.

Deer & Company (NYSE: DE) rose over 6% to a yearly high of $52.28 after Jim Cramer recommended buying shares in the tractor maker, arguing that the company would benefit from increased agricultural activity.  

Garrett W. McIntyre

• Ball Corporation (NYSE: BLL) Raised to Buy at Citigroup.
• Onyx Pharmaceuticals (NASDAQ: ONXX) Raised to Overweight at JPMorgan.
• Rio Tinto (NYSE: RTP) Raised to Buy at Deutsche Bank.
• Telefonica (NYSE: TEF) Raised to Outperform at Credit Suisse.
• Autoliv (NYSE: ALV) Raised to Overweight at Morgan Stanley.
• eTelecare Global Solutions (NASDAQ: ETEL) Cut to Neutral at Baird.

Jon C. Ogg
December 11, 2008

• ADC Telecom (ADCT) Cut to Neutral at Baird; Cut to Market Perform at FBR.
• Autoliv (ALV) Cut to Hold at Deutsche Bank.
• Caterpillar (CAT) Cut to Neutral at JPMorgan.
• FormFactor (FORM) Cut to Perform  at Oppenheimer.
• General Maritime (GMR) Cut to Neutral at JPMorgan.
• G-III Apparel Group (GIII) Cut to Market Weight at Thomas Weisel.
• Mirant (MIR) Cut to Equal Weight at Lehman.
• Sonic Solutions (SNIC) Cut to Neutral at JPMorgan.
• Target Corp. (TGT) Cut to Neutral at Credit Suisse.
• Top Ships (TOPS) Cut to Underweight at JPMorgan.
• Washington Mutual (WM) Cut to Sell at Piper Jaffray.
• Zimmer Holdings (ZMH) Cut to Neutral at Piper Jaffray.

Jon C. Ogg
July 23, 2008