Industrials
| Today's Industrials Stories | |
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Macro/Technicals
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Sector News, M&A, Capital Raises
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Top Events/Earnings Calendar
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Macro/Technicals
XAL: 40.51; -0.66S&P 500 Autos: -0.57
S&P 500 Transportation : -0.91
S&P 500 Materials : -0.63
GLD : -1.7
XLI: -0.7
Sector News, M&A, Capital Raises
Sector news
Industrials
o RMIXQ U.S. Concrete receives commitment letter for $75M
o Manitowoc MTW +2.4%....- nice beat.. reaffirmed its full-year 2010 guidance: 10am ET: 888-215-6881, password: 1235484
o PX reports…Praxair reports Q2 EPS $1.19 vs Reuters $1.14; authorizes new $1.5B for share repurchases..guides mixed…Guides full year EPS to $4.60-$4.70, above prior $4.50-$4.65, vs Reuters $4.62; guides revenues to be in the area of $10B vs Reuters $10.04B.
o SEE Sealed Air reports Q2 adjusted EPS ..SEE reported ..reits guidance…Sealed Air increases quarterly dividend by 8.3%
o Calls for EU to Halt Corrupt Defense Deals link from BusinessWeek -
o Mitsubishi Chemical may report Q1 Op profit of ¥60B (¥32Be) on strong sales of LCD material – TTN
o GVA Granite Construction awarded $29M roadway project in New Mexico
o NLC Nalco Holding reports Q2 EPS
o MTW Manitowoc reports Q2 EPS
o PKOH Park-Ohio reports Q2 EPS
o AP Ampco-Pittsburgh reports Q2 EPS
o LAWS Lawson Products reports Q2 EPS
o NSC Norfolk Southern increases stock repurchase program
o NEWL NewLead Holdings reports 1-for-12 reverse split of common shares, effective upon 3-Aug
o TRMB Trimble Navigation reports Q2 EPS
o CBI Chicago Bridge reports Q2 EPS
o NSC Norfolk Southern reports Q2 EPS
o NATI National Instruments reports Q2 EPS
Materials
o NEM: Newmont 2nd-Quarter Profit Misses Analysts’ Estimates
§ Newmont Boosts Quarterly Dividend by 50%
o SWC Stillwater Mining reports.. Lowers FY guidance
o Australian Opposition Labor Party: Mining tax would be reduced to 28.5% v 30% if elected on August 21st
o Arcelor Mittal (-1.9%). 2Q figures are better than expected, but the outlook was cautious.
§ ArcelorMittal, the world’s biggest steelmaker, forecast third-quarter profit will slump as much as 30 percent from the prior three months as China’s economy slows, costs rise and demand weakens during the European summer.
o London sees surge in steel futures trading from Financial Times
§ Export problems support prices for sugar while tin touches two-year highs after supply disruption in Indonesia
o Miners Likely to Skip Afghan Auction – WSJ link
§ Afghanistan is preparing to auction off a round of iron ore, copper and natural gas deposits over the next year, but the major international miners aren't likely to go in until stability returns
o Nippon Steel posts Q1 profit, forecast below consensus from Business Spectator
§ Steel giant's prices, margins hurt by Chinese growth. 28 Jul 2010 3:15 PM
o PX Consensus segment results for Praxair
o HWKN Hawkins Chemical reports Q1 EPS
o DEL Deltic Timber reports Q2 EPS
o USLM U.S. Lime & Minerals reports Q2 EPS
o CMP Compass Minerals reports Q2 EPS
o Century Aluminum CENX -6% EPS of $0.19, vs. Consensus of $0.25.
o TCK Teck Resources reports Q2 EPS
Autos
o Cramer: Should Ford Investors Expect a Dividend?
§ Alan Mulally, CEO of Ford (F), tells Cramer that the company now makes a whole family of cars in the US profitably. He adds that the company is now profitable all over the world and is seeing some of its best results in ten years. He also notes that the company paid down $7B in debt last quarter and is on its way to becoming investment grade in 2011. Cramer remains positive.
o Regions' Auto Lending Push, Settlement Talks Show New CEO's Hand from American Banker
§ Regions' CEO, O.B. Grayson Hall, said during a 2Q conference call Tuesday that the company will reenter the indirect auto lending business this quarter after quitting
o Visteon suppliers urged to vote down plan to exit bankruptcy from Automotive News
§ Visteon's reorganization proposal has divided creditors owed at least $2.8 billion. Bondholders, who are sponsoring the plan, would own 95 percent of Visteon, with current shareholders getting the rest.
o GM prices Volt at 41G from NY Post
§ General Motors Co., the largest US automaker, will sell its Chevrolet Volt for a starting price of $41,000 and lease terms similar to those on Nissan Motor Co.'s Leaf electric car...
o PSA Peugeot Citroen, Europe’s second-largest carmaker, reported six-month net income that beat estimates and forecast its first full-year operating profit in two years as a global economic recovery spurs demand.
§ Peugeot Citroen returns to profit, revenue up 21% from MarketWatch.com
o Daihatsu Motor Co. soared 8.3 percent after the Japanese carmaker said fiscal first-quarter profit surged almost sixfold
o Mazda Motor started reducing production in US on weaker than expected sales – TTN
o TM Toyota Motor looking to expand overseas production because of strong yen -- Nikkei
Top Events/Earnings Calendar
WAT-Waters reports Q2 EPS $0.93 ex-items vs Reuters $0.90 ($62.74)
Company reports revenues of $391.0M vs Reuters $389.5M.
PX-Praxair reports Q2 EPS $1.19 vs Reuters $1.14; authorizes new $1.5B for share repurchases ($85.83)
Company reports revenues of $2.53B vs Reuters $2.46B. Guides Q3 EPS to $1.15-$1.20 vs Reuters $1.19. Guides full year EPS to $4.60-$4.70, above prior $4.50-$4.65, vs Reuters $4.62; guides revenues to be in the area of $10B vs Reuters $10.04B. PX sees volume growth in H2, perhaps at a more modst pace. Full-year capital expenditures are expected to be about $1.4B, and the effective tax rate is forecasted to remain at about 28%. PX authorizes $1.5B for share repurchases.
NEM-Newmont Mining reports Q2 EPS $0.77 ex-items vs Reuters $0.81; increases dividend ($55.78)
Company reports revenues of $2.15B vs Reuters $2.11B.
- Equity gold and copper production of 1.3M ounces and 80M pounds, respectively;
- Average realized gold and copper price of $1,200 per ounce and $2.33 per pound, respectively;
- Costs applicable to sales for gold and copper of $492 per ounce on a co-product basis ($362 on a by-product basis(2)) and $0.77 per pound, respectively;
- In addition, Newmont announced that its board approved an increase in the company's regular quarterly dividend from $0.10 per share of common stock to $0.15 per share of common stock, payable on 29-Sep; of record at the 8-Sep.
- Reaffirms full year equity gold production of 5.3-5.5M ounces at a slightly narrower range of costs applicable to sales of between $460 and $480 per ounce on a co-product basis.
TWI-Titan International reports Q2 EPS $0.12 vs Reuters $0.11 ($11.41)
Company reports revenues of $229.7M vs Reuters $215.6M. -
ROK-Rockwell Automation reports Q3 EPS $0.83 vs Reuters $0.80 ($55.96)
Company reports revenues of $1.27B vs Reuters $1.22B. The year-over-year impact from currency translation was negligible in the quarter.
- Raises full year EPS to $2.95-3.05 vs prior 2.60-2.90 vs Reuters $2.96;
- Guides full year revenues to ~$4.8B vs prior $4.65-4.8B vs Reuters $4.74B.
- Expects Q4 revenue to grow sequentially
BA-Boeing reports Q2 EPS $1.06 vs Reuters $1.01 (68.62)
Company reports revenues of $15.57B vs Reuters $16.24B. Reaffirms full year EPS to $3.50-$3.80 vs Reuters $3.88; reaffirms revenues to $64.0-$66.0B vs Reuters $64.87B.