Mobile payment systems wanted…
Comments »U.S Equity Preview: SFLY, SATC, SLE, MOTR, FLOW, ESL, ASNA, & ALSK
Alaska Communications Systems Group Inc. (ALSK) : The Anchorage, Alaska-based telephone company reported fourth- quarter earnings of 5 cents a share, beating the average analyst estimate of 4 cents.
Ascena Retail Group Inc. (ASNA) (ASNA US): The women’s apparel retailer forecast profit this year of at least $2.75 a share, above the average analyst estimate of $2.67.
Esterline Technologies Corp. (ESL) : The aerospace and defense parts supplier raised its forecast for 2012 earnings to between $5.10 and $5.40 a share, from $5 to $5.30 previously.
Flow International Corp. (FLOW) : The maker of industrial water jets used for cutting and cleaning reported third-quarter earnings of 7 cents a share, beating the 5-cent average of two analyst estimates.
Motricity Inc. (MOTR) tumbled 17 percent to $1.09. The provider of mobile-data services reported a loss of 14 cents a share in the fourth quarter, wider than the average analyst estimate of a loss of 10 cents.
Sara Lee Corp. (SLE) rose 6.4 percent to $21.70. The maker of Douwe Egberts and Senseo coffee said its international coffee company filed for a spinoff under the name DE International Holdings NV.
Satcon Technology Corp. (SATC) dropped 6 percent to 47 cents. The maker of inverters, which converts electricity from solar cells for use on electric grids, forecast first-quarter revenue of no more than $28 million, below the average analyst estimate of $38.1 million.
Shutterfly Inc. (SFLY) rallied 15 percent to $31. The company agreed to buy Kodak Gallery, an online photo service with more than 75 million users, for $23.8 million.
Comments »Gapping Up and Down This Morning
Gapping up
BIOF +22.2%, SFLY +17.1%, ASNA +10.4%, FLOW +7.3%, ALSK +5.5%, BGCP +3.4%, IDSY +1.6, GCO +1.9%, CBRX +12%, ARNA +3.3%,
RENN +1.3% , VE +4.2%, CIE +2.3%, FIO +1%, MSI +0.8%,
Gapping down
NTWK -26.1%, CCSC -17.4%, PRTS -14%, MOTR -13.6%, MALL -7.5%, DPM -4.5%, FOLD -2.7%, FL -2.1%, AUTH -1.4%, NWSA -1.7%, ITT -1.1%,
AONE -10%, HMY -2.3%, MT -2.1%, AU -1.6%, SLV -1.2%, BHP -1%, GDX -0.5%, STO -1.1%, BP -1%, SDRL -0.9%, E -0.9%, TOT -1.7%, DPM -4.2%,
BUD -1.5% , GNC -1.4% , NOK -1.3% , IPGP -0.5% , RCL -1%
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In Play and On the Wires
Yelp Prices IPO @ $15 Sticks; Above Expected Range
U.S. Auto Sales Hit a Four Year High; Can They Keep Up the Pace ?
“U.S. auto sales accelerated to the fastest pace in four years, led by Chrysler Group LLC and a surprise gain from General Motors Co. (GM), as demand strengthened throughout automakers’ lineups.
GM deliveries rose 1.1 percent to 209,306 cars and light trucks, beating analysts’ estimates for a 4.8 percent decrease. Chrysler sales increased 40 percent to 133,521 and Ford Motor Co. (F)’s climbed 14 percent to 178,644. Toyota Motor Corp. and Honda Motor Co. deliveries each gained 12 percent, while Nissan Motor Co. sales rose 16 percent…”
Comments »Iron Ore Futures Defy Gravity as Demand Falls Sharply
“Iron ore, the world’s second-biggest commodity cargo after crude oil, is extending a bull marketafter rallying 22 percent from a 22-month low in October as the slowest expansion in exports in 11 years restricts supplies.
Seaborne supply will advance 3.8 percent to 1.09 billion metric tons this year, the smallest gain since 2001, according to Clarkson Plc, the largest shipbroker. Prices in China, the biggest importer, may rise 10 percent to an average of $157.50 a ton in the fourth quarter, the median of 11 analyst estimates compiled by Bloomberg shows. Shares of Vale SA (VALE), which ships more ore than any other company, will rise 19 percent to $30.42 in the next 12 months, the average of 16 estimates shows.
New mines and expansions of existing ones are being postponed by rising costs and licensing delays. Morgan Stanley cut its forecast for export supply by 9.6 percent since October and expects a 99 million-ton deficit in the seaborne market this year, at least the ninth consecutive annual shortage. Vale will report its second-biggest profit ever this year, the mean of 11 analyst estimates compiled by Bloomberg shows.
“The wall of additional iron-ore supply that investors have been fearing is going to be late,” said Neil Gregson, who helps manage about $7.4 billion of commodity assets at JPMorgan Asset Management in London. “Iron ore remains a tight market.”
Steel Index…”
Comments »Baidu Expands Their Search Capabilities With Tweet Search
“Baidu Inc. (BIDU), owner of China’s most- popular search engine, started displaying links to tweets on microblogs run by Sina Corp. (SINA) and Tencent Holdings Ltd. (700), broadening its services for social-networking users.
Users will also be able to search for posts on the microblogs of NetEase.com Inc. (NTES) andSohu.com Inc. (SOHU), Kaiser Kuo, a spokesman at Baidu, said in an e-mail today. He declined to disclose the commercial arrangements between the companies.
Baidu, which handles more than 80 percent of search-engine queries in China, is boosting spending to offer services targeted at social-networking, online travel and e-commerce users in the world’s biggest Internet market. Sina, based in Shanghai, is the local industry leader for microblogging services, according to BOCOM International. Such services are known as Weibo in Chinese,
“Weibo is popular among mobile-phone users, so this will help Baidu’s mobile business,” said Kelvin Ho, who rates Baidu “buy” at Yuanta Securities in Hong Kong. “Social networking is an area where Baidu is working on.”
Comments »Flash: AT&T Decided to Completely Screw Over Their Customers $T
Citizens for Tax Justice: Corporate Tax Rate Already @ 11.3% on Average; Not the 35% Claimed
“Indicative that something is amiss with the corporate income tax system, General Electric over the last 10 years paid only 2.3% tax on more than $81 billion in profits, according to the advocacy group Citizens for Tax Justice.
It was revealed last year that GE paid no federal income taxes in 2010. In fact, it received $3 billion in net tax benefits for that year. GE officials insisted the company didn’t owe anything for 2010, but added that for 2011, things would return to “normal” come tax time.
But what’s normal for GE is different from what’s normal for most Americans. Citizens for Tax Justice claims the corporation’s “effective federal income tax rate” was only 11.3%, less than a third of the official 35% corporate tax rate.
“I don’t think most Americans would consider 11.3%, not to mention GE’s long-term effective rate of 2.3%, to be ‘normal,’” said Bob McIntyre, director of Citizens for Tax Justice. “But for GE, taxes are something to be avoided rather than paid.”
Citizens for Tax Justice studied 280 major corporations and discovered that, for the years 2008-2010, the average effective tax rate was 18.5% rather than the 35% that big businesses and their Congressional supporters have been complaining about. Twenty-nine of the companies actually had a negative tax rate over the three-year period. This was most often the case with companies in the energy industry, such as Pepco, PG&E, NiSource, CenterPoint Energy, Atmos Energy, Integrys Energy and American Electric Power. Wells Fargo, Verizon, Boeing and DuPont also had negative tax bills.”
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LISTEN: HSFT, Q4, 2011 CONFERENCE CALL
Will Casino Stocks Be Able to Handle Their Debt Load ?
The Top 50 Most Admired Companies
WPP Expects Strong Ad Sales This Year
U.S. Equity Preview: ZUMZ, WPRT, BID, SDRL, PEGA, FNSR, CCO, BKE, & BSFT,
BroadSoft Inc. (BSFT) : The maker of telecommunications software forecast first-quarter earnings of as little as 17 cents a share, excluding some items, compared with the average analyst estimate of 21 cents.
Buckle Inc. (BKE) rallied 2.4 percent to $46. The teen retailer said February same-store sales rose 15 percent, beating the average analyst estimate of 6.3 percent.
Clear Channel Outdoor Holdings Inc. (CCO) rose 15 percent to $15.20. The billboard company controlled by Bain Capital Partners LLC and Thomas H. Lee Partners LP plans to pay a $2.2 billion dividend, mostly to repay debt.
Finisar Corp. (FNSR) fell 9.7 percent to $18.32. The maker of fiber-optic transmission gear said it sees revenue in the fourth quarter of no more than $250 million, missing the average analyst estimate of $255 million.
Pegasystems Inc. (PEGA) rose 7.3 percent to $30.14. The developer of customer relationship management software reported fourth-quarter earnings of 16 cents a share, excluding some items, beating the average analyst estimate of 5 cents a share.
Seadrill Ltd. (SDRL) fell 3.7 percent to $40.51. The oil-rig operator whose largest owner is John Fredriksen said the billionaire’s Hemen Holding Ltd. plans to sell as many as 24 million shares to diversify its investment portfolio.
Sotheby’s (BID) : The publicly traded auctioneer of fine arts and collectibles said fourth quarter profit fell 26 percent as sales slid.
Westport Innovations Inc. (WPRT) added 3.8 percent to $42. The developer of natural-gas engine technologies reported a third-quarter loss of 30 cents a share, narrower than the average analyst estimate for a loss of 31 cents.
Zumiez Inc. (ZUMZ) : The retailer said comparable store sales rose 14.2 percent in February, beating the average analyst estimate of 5.3 percent.
Comments »Gapping Up and Down This Morning
Gapping up
MEMS +14.8%, PEGA +10.9%, VE +9.6%, HSFT +7.8%, FXCM +5.7%, BWC +4.9%, RST +4.3%, VVUS +3.9%, WPRT +2.5%, BCS +1.9%, DB +1.4%, BAC +1%,
DXPE +1%, ARMH +0.4%, UN +1.2%, PATH +4%, CCO +7.6% , FSLR +2.6%, YGE +1.8%, TSL +1.2%, DEXO +17.7%, VE +10.9%, HSFT +10.7%,
HL +1.4%, GLD +1.4%, BBL +0.8%, SLV +0.7%, AUY +0.6%, NBG +4.9%, BCS +2.8%, DB +1.4%, BAC +1%, HBC +0.9%, RBS +0.7% ,
Gapping down
FNSR -10.7%, STV -9.3%, BID -4.7%, KRA -3.6%, GPRE -3.5%, MBI -2.6%, DAR -2.4%, PETM -2%, RIMM -3%, SD -1.8%, WAG -1.1%, CME -0.5% , SHS -9.4%,
SPPI -2.3%, BSFT-1.7%,
Comments »In Play and On the Wires
BofA Would Like to Impose a $9 Checking Account Fee If You Do Not Bank Online
“(Reuters) – Bank of America Corp is planning to introduce a monthly fee for its customers holding checking accounts unless they agree to bank online, buy more products or maintain certain balances, the Wall Street Journal said.
The report on the new fee initiative at the nation’s second-largest bank comes after it had faced a major consumer backlash last year when it disclosed plans for a $5-per-month debit card fee, forcing the bank to drop the plan.
Bank of America pilot programs in Arizona, Georgia and Massachusetts now are experimenting with charging $6 to $9 a month for an “Essentials” account, the paper said.
The options being tested include monthly charges of $9, $12, $15 and $25 but give customers opportunities to avoid the payments by maintaining minimum balances, using a credit card or taking a mortgage with the bank, the Journal said, citing a memo distributed to employees….”
Comments »Ford CFO: Company May Lose $600 Million in Asia for 2012
“DETROIT (Reuters) – Ford Motor Co may lose up to $600 million in Europe this year as the ongoing debt crisis hurts overall auto sales in the region, Chief Financial Officer Lewis Booth said on Wednesday.
Industry-wide sales in Europe appear to be heading toward 14 million vehicles this year, Booth said. This represents the low end of Ford’s annual sales forecast for the region.
“We’ve seen Europe get off to a tough start,” Booth told reporters at Ford’s global headquarters inDearborn, Michigan. “We think Europe is much more likely now to be at the bottom end of the scale.”
If that happens, Ford is likely to lose between $500 million and $600 million in the region. A loss of that magnitude would dwarf the $27 million Ford lost in Europe last year.
But Booth said Ford was confident in its overall profit outlook for the year because it expects strong results in North America, where auto sales are on the rise.
“We feel OK about the guidance we’ve given for the total company,” Booth said. ”
Comments »Japan Sees a Huge Capex Boost in Q4
“Japanese companies’ capital spending jumped by the most in almost five years in the fourth quarter, adding to signs that the world’s third-biggest economy is set to return to growth.
Capital spending excluding software rose 4.9 percent from a year earlier, after declining 11 percent in the previous quarter, the Finance Ministry said today in Tokyo. The first gain in three quarters compared with a median estimate of a 7.4 percent decline in a Bloomberg News survey of six economists….”
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