Edison International (NYSE: EIX) closed yesterday at $34.19. So far the stock has hit a 52-week low of $23.09 and 52-week high of $35.64. Edison International stock has been showing support around 33.60 and resista...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
Chicago, IL – November 19, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: PG&E Corporation (PCG), Edison International (EIX), Autodesk Inc. (ADSK), Adobe Systems Inc. (ADBE) and Apple Inc. (AAPL).
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Here are highlights from Wednesday’s Analyst Blog:
California May Ban High-Watt TVs
In California, an average residential customer’s 10% electrical consumption goes to television sets. However the regulatory apprehension is that with upgrade to larger television sets the consumption pattern for television sets will spike by as much as 8% annually. This is a worrisome trend for the power hungry state which has to import around 15% of its requirements from outside the state to meet its huge requirement.
The regulators are dreading a return to the gory days of the California electricity crisis at the beginning of the century. The crisis was aggravated as the then government kept the price of electricity artificially low, encouraging wastage.
An energy-efficient TV would save a household roughly $30 a year per set in lowered electricity costs. If all 35 million television sets in the state were replaced with more efficient sets, Californians would save $8.1 billion over 10 years, according to the Energy Commission report. The standard also could help California meet the goals of its 2006 global warming law, which calls for the state to cut greenhouse gases 25% by 2020.
To reduce greenhouse gas emissions, utilities operating in California are spending big money. California’s renewable portfolio standard requires utilities to generate 33% of power from renewable sources by fiscal 2020. PG&E Corporation (PCG) plans to invest around $13 billion in the period 2009 - 2011. Another utility, Edison International’s (EIX) subsidiary Southern California Edison, is projecting capital expenditures for the period 2009 - 2013 in the range of $16.8 billion - $19.8 billion.
Autodesk Beats, Guidance Mixed
Autodesk Inc. (ADSK) revenues of $416.9 million were down 31.3% year over year, mainly due to a decrease of 43.9% year over year in Licenses revenues and partially due to a 2.8% decrease in Maintenance revenues. However, revenues were flat sequentially.
By geography, revenue from the Americas increased 2% sequentially but decreased 25% from the year-ago period. EMEA revenues declined 3% sequentially and 35% year over year on a constant currency basis. Revenue from the Asia Pacific decreased 7% sequentially and 33% year over year on a constant currency basis. Revenues from emerging economies represented 15% of total revenue and decreased 3% sequentially and 45% year over year on a constant currency basis.
Moreover, revenues from 3D design solutions were down 25% from the year-ago period but were flat sequentially. Revenues from 2D horizontal and vertical products declined 37% year over year and decreased marginally from the last quarter. We are positive on Autodesk’s migration from 2D products to 3D products, which have a higher margin.
Combined revenue from AutoCAD and AutoCAD LT declined 39% year over year. Although the company has a strong market position in the "mainstream" CAD market, it faces competition from Dassault Systemes. Moreover, the company competes against Adobe Systems Inc. (ADBE) and Apple Inc. (AAPL), among others.
Autodesk has a strong balance sheet with cash, investments and securities totaling $1.05 billion at the end of quarter and no long-term debt.
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About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com
The California Public Utilities Commission (CPUC) is evaluating a proposal to ban energy-inefficient television sets in the state. The proposal intends to lower electricity demand, and if implemented would be a first in the country. This would stipulate televisions sold in California to be more energy efficient from the inception of fiscal 2011.
The standards would [...]
The California Public Utilities Commission (CPUC) is evaluating a proposal to ban energy-inefficient television sets in the state. The proposal intends to lower electricity demand, and if implemented would be a first in the country. This would stipulate televisions sold in California to be more energy efficient from the inception of fiscal 2011.
The standards would apply to all television sets up to 58 inches. For example, all new 42-inch television sets have to use less than 183 watts by fiscal 2011 and less than 116 watts by fiscal 2013. That's considerably more efficient than current models in the market. A 42-inch Hitachi plasma TV sold in 2007 uses 313 watts while a 42-inch Sharp Liquid-crystal display, or LCD, TV draws 232 watts, according to Energy Commission research.
However, as of now only one-quarter of the television sets on the market meet the required standard. Television sets larger than 58 inches would not be covered by the rule, as those sets account for no more than 3% of the overall market.
In California, an average residential customer’s 10% electrical consumption goes to television sets. However the regulatory apprehension is that with upgrade to larger television sets the consumption pattern for television sets will spike by as much as 8% annually. This is a worrisome trend for the power hungry state which has to import around 15% of its requirements from outside the state to meet its huge requirement.
The regulators are dreading a return to the gory days of the California electricity crisis at the beginning of the century. The crisis was aggravated as the then government kept the price of electricity artificially low, encouraging wastage.
An energy-efficient TV would save a household roughly $30 a year per set in lowered electricity costs. If all 35 million television sets in the state were replaced with more efficient sets, Californians would save $8.1 billion over 10 years, according to the Energy Commission report. The standard also could help California meet the goals of its 2006 global warming law, which calls for the state to cut greenhouse gases 25% by 2020.
To reduce greenhouse gas emissions, utilities operating in California are spending big money. California’s renewable portfolio standard requires utilities to generate 33% of power from renewable sources by fiscal 2020. PG&E Corporation (PCG) plans to invest around $13 billion in the period 2009 - 2011. Another utility, Edison International’s (EIX) subsidiary Southern California Edison, is projecting capital expenditures for the period 2009 - 2013 in the range of $16.8 billion - $19.8 billion. Read the full analyst report on "PCG" Read the full analyst report on "EIX" Zacks Investment Research
Chicago, IL – November 9, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: EOG Resources Inc. (EOG), Grupo Televisa S.A. (TV), OGE Energy Corp. (OGE), Edison International (EIX) and Dynegy Inc. (DYN).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Friday’s Analyst Blog:
EOG Resources Remains Neutral
EOG Resources Inc. (EOG) reported third-quarter earnings of 81 cents per share, compared with the Zacks Consensus Estimate of 65 cents and a year-ago profit of $2.34. Before adjusting one-time items, earnings were 2 cents per share. Despite an increase in production volumes, earnings were down from the year-earlier level due primarily to significantly lower commodity price realizations.
Total volumes during the quarter increased approximately 4% year-over-year to 195.9 billion cubic feet equivalent (Bcfe), or 2,129 million cubic feet equivalent per day (MMcfe/d), 76% of which was natural gas and 24% liquids. Natural gas volumes decreased 3% year-over-year, led by an approximately 6% decrease in the U.S. volumes to 1,128 MMcf/d, and more than 2% decrease in Canadian volumes to 219 MMcf/d.
Grupo Televisa Reports Mixed Results
Grupo Televisa S.A. (TV), the largest media company in Mexico, reported mixed financial results for the third quarter 2009. Quarterly consolidated net revenue of $970 million was an improvement of 5.5% over the prior-year quarter. However, this was below the Zacks Consensus Estimate of $983 million.
The year-over-year increase in the top-line was mainly attributable to healthy revenue growth in Sky, Cable & Telecom, Programming Exports, Pay television Networks, and Other Business segments, partially offset by a fall in revenue in Publishing and Television Broadcasting segments.
OGE Energy Tops Expectations
OGE Energy Corp. (OGE) reported third quarter earnings per share (EPS) of $1.40, topping the Zacks Consensus EPS estimate of $1.34. However, EPS in the reported quarter came a dime short, compared to the year-ago EPS of $1.50.
Earnings were boosted in the reported quarter by strong results at Oklahoma Gas and Electric Company (OG&E), offset by cooler weather in the OG&E service territory, lower commodity prices in the Enogex midstream pipeline business and an increase in the number of shares outstanding.
Edison Pushes Past Estimate
Edison International’s (EIX) adjusted EPS of $1.09 in the third quarter of fiscal 2009 pushed past the Zacks Consensus Estimate of $1.05 by 4 cents. However, adjusted EPS for the quarter fell short of the year-ago $1.46 EPS.
On a GAAP basis, the company reported quarterly EPS of $1.23, compared to $1.33 in the year-ago quarter. The discrepancy between GAAP and adjusted EPS were due to non-cash accounting benefit from the final regulatory approval to transfer its Mountainview power plant to utility rate base.
Dynegy Sunk on Charges
Dynegy Inc. (DYN) has reported a net loss of $212 million, or 25 cents per share in the third quarter 2009, compared to a net income of $605 million, or 72 cents per share in the year-ago quarter. The net loss in the reported quarter was primarily driven by asset impairment charges and mark-to-market losses. The company recorded mark-to-market losses of $128 million ($78 million after tax), compared to mark-to-market gains of $889 million ($542 million after tax) in the year-ago quarter.
In the reported quarter, however, adjusted earnings rose to $388 million, compared to $269 million in the year-ago quarter. The growth was primarily driven by the sale and assignment of a multi-year power sales contract, higher capacity and tolling revenues and higher realized energy prices in the Midwest.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com
Edison International’s (EIX) adjusted EPS of $1.09 in the third quarter of fiscal 2009 pushed past the Zacks Consensus Estimate of $1.05 by 4 cents. However, adjusted EPS for the quarter fell short of the year-ago $1.46 EPS.
On a GAAP basis, the company reported quarterly EPS of $1.23, compared to $1.33 in the year-ago quarter. [...]
Companies featured in this segment: Duke Energy Incorporated (NYSE:DUK), Dominion Resources Incorporated (NYSE:D), Southern Company (NYSE:SO), E.ON AG OTC:EONGY), Electricite de France SA (EPA:EDF), Australasian Resources Limited (ASX:ARH), Citic Pacific Limited (HKG:0267), NRG Energy Incorporated (NYSE:NRG), Edison International (NYSE:EIX), PepsiCo Corporation (NYSE:PEP)
Companies featured in this segment: First Solar Incorporated (NASDAQ:FSLR), Edison International (NYSE:EIX), OAO Gazprom (OTC:OGZPY), Iberdrola SA (MCE:IBE), CEZ AS (PRG:BAACEZ), Enel SpA (BIT:ENEL), Fortum Oyj (HEL:FUM1V)
Companies featured in this segment: Edison International (NYSE:EIX), Duke Energy (NYSE:DUK), BP plc (NYSE:BP), General Electric Company (NYSE:GE), Acciona SA (MCE:ANA), Xstrata plc (LSE:XTA), Itochu Corporation (TYO:8001)
Companies featured in this segment: United Technologies Corporation (NYSE:UTX), Duke Energy Brasil, Duke Energy Corporation (NYSE:DUK), Brown-Forman Corporation (NYSE:BF.B), ESolar, Google (NASDAQ:GOOG), NRG Energy Incorporated (NYSE:NRG), and Edison International (NYSE:EIX).
Companies featured in this segment: Canadian Natural Resources Limited (NYSE:CNQ), The Yemen Liquefied Natural Gas Company, Starlims Technologies Limited, Total SA (NYSE:TOT), Hyundai Corporation (SEO:011760), Air Products & Chemicals (NYSE:APD), GAIL India Limited (BSE:532155), Kalpataru Power Transmission Limited (BSE:522287), Petronet LNG Limited (BSE:532522), Marubeni Corporation (TYO:8002), Engineers India Limited (BSE:532178), Reliance Industries Limited (BSE:500325), CNOOC Limited (NYSE:CEO), Edison International (NYSE:EIX), and Emerson Electric Company (NYSE:EMR).
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