BILLINGS, MT and TORONTO--(Marketwire - November 30, 2010) - Stillwater Mining Company (
AUSTIN, TX--(Marketwire - November 30, 2010) - ProAssurance Corporation (
FAIRFIELD, NJ--(Marketwire - November 30, 2010) - Kearny Financial Corp. (
SIN Holdings Inc. Completes Acquisition, Effects Forward Stock Split and Changes Name to Legend Oil and Gas, Ltd.
SEATTLE, WA--(Marketwire - November 30, 2010) - Legend Oil and Gas, Ltd. (
John Murphy: RETAILERS CONTINUE TO ACT WELL IN FACE OF EUROPEAN WORRIES — MACYS HITS TWO-YEAR HIGH — ABERCROMBIE COMES CLOSE — GAP EXCEEDS 200-DAY AVERAGE — GOLD AND SILVER PRODUCERS RALLY AS WELL — BARRICK NEARS 52-WEEK HIGH — JUNIOR GOLD MINERS ETF IS RISING EVEN FASTERIt looks like a tug of war is going on in the U.S. stock market between worries over European debt problems and signs of improvement in the U.S. economy. I normally take my cues on the economy...
Daewoo International signed a contract with the Indonesian Defense Ministry to supply $700 million worth of 6x6 light-armored vehicles to the Indonesian Army. The production will commence at Doosan DST.
The contract is likely to increase opportunities for POSCO (PKX) to export light-armored vehicles in the international arena, especially in the Asian and Latin American countries.
In a separate contract, Daewoo International also agreed to supply $800 million worth of Type-209 submarines to the Indonesian Navy and $400 million worth of basic training aircraft to the Indonesian Air Force.
Daewoo International was acquired by POSCO in September 2010, for a value of KRW 3.37 trillion. The purchase price was 2.5% lower than POSCO’s original offer of KRW 3.46 trillion. POSCO, by means of the acquisition, aimed at growing its business in unexplored areas, securing a stable procurement of raw materials, and further strengthening its foothold in the overseas markets.
We find POSCO well positioned to leverage from its expansion into the fast-growing markets in the long run. Its recent joint ventures (Krakatau Steel), acquistions (Daewoo International), and increasing independency in raw material procurement (stake acquisition in Australia’s iron ore and coal mines) are very likely to be the company’s prime growth drivers.
With the gradual global economic resurgence, demand for steel is most likely to escalate and grow 13.1% in 2010 and 5.3% in 2011, according to the World Steel Association. Despite these positive factors, growth in the quarters ahead will be restricted as the company would probably face headwinds emanating from its rival steel manufacturers worldwide, including Arcelor Mittal (MT), Nippon Steel Corp. and privately held Hyundai Steel Company.
We currently maintain a Neutral recommendation on POSCO, also supported by Zacks #3 (Hold) Rank.
ARCELOR MITTAL (MT): Free Stock Analysis Report
POSCO-ADR (PKX): Free Stock Analysis Report
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Sikorsky Aircraft Corp has made an equity investment in Adaptive Flight, Inc., a manufacturer of avionics systems for small and medium-sized unmanned aerial vehicles. The investment is aimed at developing technologies that will allow piloted and unpiloted aircraft to work in unison. Sikorsky is a subsidiary of United Technologies Corp (UTX).
This signals an advancement in the development of technology for optionally piloted aircrafts enabling flying with or without pilots.
United Technologies has strong market positions in aerospace/defense and global infrastructure with a portfolio that includes: Carrier, Otis, Hamilton Sundstrand, Pratt & Whitney, Sikorsky and Fire & Security. The company invests in game-changing technology across the business, with its Aerospace companies continuing to make progress on their key development programs.
For example, the Pratt GTF core has accumulated more than 260 hours, validating the performance expectations, and Sikorsky's Canadian Maritime helicopter continues its successful flight testing with first deliveries scheduled for the end of the year.
The company is expected to deliver double-digit earnings growth in FY10, given restructuring savings and an improving end-market environment. Emerging markets continued to do well, with particular strength in India and Brazil, where combined orders for the commercial business units grew by over 25% during the second quarter of 2010.
In addition to restructuring savings, the company is also seeing the benefits of other cost reduction actions in areas such as travel, furloughs and E&D employee attrition. The company's cost reduction initiatives have led to a year-over-year increase in its consolidated and segment margins and have also expanded earnings.
The company's most significant actions were at Carrier, related to ongoing portfolio transformation initiatives in overhead cost reduction projects, and at Hamilton Sundstrand, which continued to advance the low-cost sourcing strategy.
The financial performance of the company depends on conditions in the construction and aerospace industries. The company is also highly dependent on the U.S. government's budgetary allocation for defense. A reduction in capital spending in the commercial aviation or defense industries could have a significant effect on demand for UTX's products, which could have an adverse effect on its financial performance or its results of operations. Its business may also be affected by government contracting risks.
The Sikorsky segment manufactures military and commercial helicopters, and aftermarket helicopter and aircraft parts and services.
United Technologies Corporation provides high technology products and services to the building systems and aerospace industries worldwide. Growth is attributable to acquisitions and the internal development of existing businesses. Otis, Carrier and UTC Fire & Security (collectively referred to as the commercial businesses) serve customers in the commercial and residential property industries worldwide; Carrier also serves commercial, industrial, transport refrigeration and food service equipment customers.
Pratt & Whitney, Hamilton Sundstrand and Sikorsky (collectively referred to as the aerospace businesses) primarily serve commercial and government customers in both the original equipment and aftermarket parts and services markets of the aerospace industry; Hamilton Sundstrand and Pratt & Whitney also serve customers in certain industrial markets. Honeywell International Inc (HON) is a major competitor.
We currently have a Neutral recommendation on United Technologies Corporation.
HONEYWELL INTL (HON): Free Stock Analysis Report
UTD TECHS CORP (UTX): Free Stock Analysis Report
Zacks Investment Research
At the 96th annual meeting of the Radiological Society of North America (RSNA) in Chicago, GE Healthcare, a unit of General Electric (GE), showcased its next generation wireless, digital X-ray detector. The new device, called FlashPad, received the 510k clearance from the US Food and Drug administration. This sophisticated, next-gen detector is compatible across a wide range of GE X-ray products.
It is the sole wireless digital detector, which can aid advanced applications like VolumeRAD and Dual Energy Subtraction. The former is a digital tomosynthesis procedure for radiography that removes overlaying and underlying structures while the latter produces chest or abdominal images without obstructions from overlying bones. The design of the FlashPad device further facilitates efficient handling particularly in specialized areas like pediatric work, intensive care and trauma.
General Electric has one of the best infrastructure franchises worldwide with solid organic growth rates, exposure to favorable secular trends and a large installed base supporting a growing annuity-like service business. Infrastructure businesses of the company are helping to build energy, health, transportation and technology infrastructure of the new century.
GE Healthcare has expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery and biopharmaceutical manufacturing technologies.
General Electric however operates in a highly competitive climate, characterized by changing technology that requires continuing research and development. The company remains focused on product leadership, expanding its core technologies, and creating a lower cost position. During the third quarter of 2010, General Electric invested above 5% of its industrial revenue back into R&D, surging 21% year over year.
However, the company’s global expansion is subject to economic and political risks pertaining to diverse operating geographies.
Operating in more than 100 countries globally and employing about 300,000 people worldwide, General Electric Co. is a diversified infrastructure, finance and media company. Major competitors of GE Healthcare are Siemens Healthcare, the medical products division of Siemens AG (SI), and Philips Healthcare, a group company of Royal Philips Electronics (PHG).
We currently maintain our Neutral rating on General Electric, with a Zacks #3 Rank (short-term Hold recommendation) over the next one-to-three months.
GENL ELECTRIC (GE): Free Stock Analysis Report
KONINKLIJKE PHL (PHG): Free Stock Analysis Report
SIEMENS AG-ADR (SI): Free Stock Analysis Report
Zacks Investment Research
The St. Joe Company (JOE), a publicly-held operationally diversified real estate company, has recently signed a ‘Master Airport Access’ agreement to provide through-the-fence access at the new Northwest Florida Beaches International Airport.
The airport, built on 4,000 acres of land donated by St. Joe, is the first new international airport to be opened in the U.S. since the 2001 terrorist attack. St. Joe is also developing approximately 1,000 acres adjacent to the new airport for industries, offices, retailers and hotels.
These include approximately 100 acres designated for retail, office and hotel uses, approximately 300 acres for light industrial uses, and approximately 600 acres for manufacturing, distribution and logistics companies. The commercial development, titled VentureCrossings Enterprise Centre, has become a major growth driver for Northwest Florida, creating jobs and revenue-generating opportunities for the entire region.
The through-the-fence agreement would facilitate direct access to airport taxiways and runways to the various companies within VentureCrossings Enterprise Centre. St. Joe has initially identified three through-the-fence access points and is currently mulling construction improvements at the sites to meet the operational needs of the end-users.
The agreement, however, provides for flexibility relating to the number and location of the access points and could be increased to meet the rising demands of the customers.
Based in Jacksonville, St. Joe is one of Florida’s largest real estate developers engaged in town, resort, commercial, and industrial development, land sales, and commercial real estate operations. The company also has significant interests in the timber industry.
Currently, St. Joe carries a Zacks #3 Rank, which translates into a short-term Hold recommendation and indicates that the stock is expected to perform in line with the overall U.S. equity market for the next 1–3 months. We also have a long-term Neutral recommendation and a Zacks #3 Rank for Rayonier Inc. (RYN), a competitor of St. Joe.
ST JOE CO (JOE): Free Stock Analysis Report
RAYONIER INC (RYN): Free Stock Analysis Report
Zacks Investment Research
LONDON--(Marketwire - November 30, 2010) - Global Technologies Ltd. (