Industrials
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Macro/Technicals
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Sector News, M&A, Capital Raises
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Research Away
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Macro/Technicals
XAL: 40.24; -.25S&P 500 Auto : -0.08
S&P 500 Transportation : +0.37
S&P 500 Materials : -0.52
GLD : +0.2
XLI : -0.3
Sector News, M&A, Capital Raises
Industrials
o BG Bunge Ltd reports mixed to worse..gudies dn
o TYC Tyco reports mixed…revs less than street
o BLL Ball Corp reports mixed
o IRM Iron Mountain reports mixed
o POT up pre mkt…1%....: Potash reports a beat..guides up..but may be mixed vs street
o U.K. defense technology company QinetiQ Group PLC (QQ.LN) Thursday said it expects to meet its forecasts this year, despite continued delays in orders from the U.K., and to a lesser extent from some sector in the U.S. – DJ
o TGI Triumph Group reports Q1 EPS
o SWK Barron's Weekday Trader is positive on Stanley Black & Decker
o ISSC Innovative Solutions reports Q3 EPS
o GLF Gulfmark Offshore reports Q2 EPS
o KEX Kirby Corp reports Q2 EPS
o HCCI Heritage-Crystal Clean reports Q2 EPS
o FLS Flowserve reports Q2 EPS
o TKR Timken wins $26M wind energy contract supplying Goldwind
o CBAK China BAK Battery reports Q3 EPS
o RGR Sturm Ruger reports Q2 EPS
o TTEK Tetra Tech reports Q3 EPS
o WGOV Woodward authorizes $200M stock repurchase program
o ISIG Insignia Systems reports Q2 EPS
o ISH International Shipholding reports Q2 EPS
o TAL TAL International reports Q2 EPS
o KAI Kadant reports Q2 EPS
o RA RailAmerica reports Q2 EPS
o QLTY Quality Distribution reports Q2 EPS
o GMR General Maritime reports Q2 EPS
o TRN Trinity Industries reports Q2 EPS
o ITRI Itron reports Q2 non-GAAP EPS
o OI Owens-Illinois reports Q2 EPS
o WGOV Woodward Governor reports Q3 EPS
o SRCL Stericycle reports Q2 EPS
o WIRE Encore Wire reports Q2 EPS
o DRCO Dynamics Research reports
o GTLS Chart Industries reports.. Reaffirms full year EPS guidance
Transports
o ARII American Railcar reports Q2 EPS
o DRYS DryShips reports Q2 EPS
o Lufthansa Trades Down 3.6% After Open, 2Q Results…Lufthansa Cuts '10 Fuel Cost Estimate To EUR5.2B On Stronger Euro
o Transports, Demand positive: The Japanese market managed to pare some losses when major shippers reported earnings during the lunchtime break. Nippon Yusen, Mitsui O.S.K. Lines, and Kawasaki Kisen all reported solid results, and subsequently revised up their full-year forecasts on solid demand for container ships and a stable recovery in shipping fares
§ "Expectations for upward revisions were already strong, but the degree of the changes was far bigger than expected," DJ
§ Mitsui O.S.K. Lines is the operator of the world’s largest merchant fleet
o UAL-Continental Merger Moves Ahead – WSJ link
Materials
o CLF reported…misses, guidance may not be good enough: hurt by to weaker than expected pellet pricing
§ Cliffs Natural Resources., North America’s largest iron-ore producer, said second-quarter profit increased more than fivefold because of higher raw-material prices and increased demand
§ call on July 29 at 10 AM EST, dial-in: 877-485-3104, ID#00353968.
o Mining giants eyeing coal firm Aston- Sydney Morning Herald
§ US-based Peabody Energy Corporation and Swiss mining giant Xstrata are understood to be eyeing emerging Australian coal miner Aston Resources Ltd for a takeover
§ According to sources close to the company, Aston is expected mid-next week to unveil an initial public offer seeking to raise $400 million, which has already attracted Singapore's Noble Group and Japan's Itochu as cornerstone investors.
o CBT Cabot Corp reports Q3 EPS
o KWR Quaker Chemical reports Q2 EPS
o EGO Eldorado Gold reports an EPS beat
o GG Goldcorp reports Q2 EPS
o TIS Orchids Paper Products Company reports Q2 EPS
o CTHR Charles & Colvard reports Q2 EPS
o FMC FMC Corp reports Q2 EPS
o AEM Agnico-Eagle Mines reports Q2 EPS $0.64 including items
o Deal between Chinalco, Rio Tinto (RIO.LN) coming at 03:30 ET - FT
o Rio Tinto (RIO.LN) confirms signs deal with Chinalco for Simandou iron ore project joint venture.
o Miner: Kazakhyms (+1.1%) Copper output ahead of estimates.
o kazakhmys PLC (KAZ.LN) has enough capacity to process all of its copper concentrate when the planned Bozshakol mine starts production in 2014, the company's head of investor relations John Smelt said Thursday.
o ABX Barrick Gold reports Q2 EPS $0.77 vs Reuters $0.71 ($40.03)
§ revenues of $2.64B vs Reuters $2.64B.
§ Barrick remains on track with its original full year production guidance of 7.6-8.0M ounces at total cash costs of $425-$455 per ounce or net cash costs of $345-$375 per ounce
§ Barrick Gold increases quarterly dividend by 20.0%
Autos
o ORLY O'Reilly Auto reports Q2 adjusted EPS
o F Ford plans to complete sale of Volvo to Zhejiang Geely Holding Co next week - Detroit News
o DTG, CAR Avis Budget Group submits bid in cash and stock valued at $46.50 for Dollar Thrifty Automotive
o HTZ Hertz Global completes company's 2010 fleet refinancing
o VW up 3% on good numbers today
o Nissan Exec: Pace Of US Sales In Apr-Jun Tad Stronger Than Targeted For This FY – DJ
o Hyundai Motor., South Korea’s largest automaker, said it expects to beat its annual revenue forecast after posting record profit on brisk overseas sales that offset sluggish domestic demand.
§ The automaker will probably sell more than its initial plan of 3.46 million vehicles as new models including revamped Sonata lure buyers, Chief Financial Officer Lee Won Hee told reporters today, without disclosing a new sales goal. BBG
o Truck maker and engineering firm MAN.. MAN bullish on orders in commercial vehicles business
§ "MAN's key performance indicators have improved significantly compared with the difficult year 2009," MAN said in a statement, noting however that "many areas still have a long way to go to return to the high levels of capacity utilization in previous record years."
Research Away
OI-Owens-Illinois reports Q2 EPS $0.90 vs Reuters $0.93 ($29.81)
Company reports revenues of $1.71B vs Reuters $1.81B. Earnings for the quarter reflect an $0.08 impact from unfavorable currency translation.
LZ-Lubrizol reports Q2 EPS $2.88 vs Reuters $2.38 ($90.96)
Company reports revenues of $1.40B vs Reuters $1.33B. Results include after-tax restructuring charges of $0.3M, or less than $0.01 per diluted share.
- Guides full year EPS to $9.60-10.00 ex-items vs prior $8.40-$8.80 vs Reuters $8.75.
- Share repurchases in the quarter totaled $65.3M. Guidance assumes $200M of share repurchases for the remainder of the year.
RTN-Raytheon reports Q2 EPS $1.36 ex-items vs Reuters $1.19 ($48.27)
- Reports Q2:
- Revenues $5.97B vs Reuters $6.43B
- Bookings $5.90B vs $6.5B in Q1, $7.65B year-ago
- Backlog $35.98B vs $36.98B in Q1, $36.88B year-ago
- Funded backlog $22.46B vs $23.46B in Q1, $23.48B year-ago
- Full Year Guidance:
- Reaffirms adjusted EPS $5.13-5.28 vs Reuters $5.01
- Revenues $25.9-26.4B vs prior guidance $25.6-26.1B and vs Reuters $26.26B
CE-Celanese reports Q2 EPS $1.12 ex-items vs Reuters $1.05 ($28.44)
- Company reports revenues of $1.52B vs Reuters $1.46B.
- Company now expects full year 2010 adjusted EPS to be at least $1.40 higher than its full year 2009 performance vs. prior +$1.25 and its 2010 operating EBITDA to be at least $260M higher than the previous year vs. prior +$250M.
POT- Potash reports Q2 EPS $1.55 vs Reuters $1.20 (97.71)
Company reports revenues of $1.44B vs Reuters $1.40B.
· Guides Q3 EPS to $0.80-1.20 vs Reuters $1.14.
Guides full year EPS to $5.00-5.50 vs prior $4.50-5.25 and Reuters $5.21.
MBLX-MBLX Metabolix reports Q2 EPS ($0.36) vs Reuters ($0.32) (16.49)
Company reports revenues of $0.1M vs Reuters $0.7M.
· Metabolix used $7.4M of cash in operating activities for Q2 2010, which represents an increase in cash usage from $4.0M used during the comparable period of 2009.