By Ellis MnyanduNEW YORK (Reuters) - U.S. stocks fell for a third straight day on Friday as investors took weaker-than-expected results from computer maker Dell DELL and homebuilder D.R. Horton DHI as a further sign that the recovery would be anemic.Following the S&P 500's gain of more than 60 percent...
Dow Chemical (NYSE: DOW) closed yesterday at $28.08. So far the stock has hit a 52-week low of $5.89 and 52-week high of $29.50. Dow Chemical stock has been showing support around 26.98 and resistance in the 29.28 range. Technical indicators for the stock are Bullish and S&P gives DOW a neutral 3 STAR (out of...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
DailyFinance: Stocks fell sharply Thursday after a sector downgrade and an overseas sell-off caused skittish investors to grow concerned that the rally has outpaced the potential for future earnings growth.
The blue-chip Dow Jones Industrial Average ($INDU) ... Read more
Dow Chemical (NYSE: DOW) closed yesterday at $28.86. So far the stock has hit a 52-week low of $5.89 and 52-week high of $29.50. Dow Chemical stock has been showing support around 28.22 and resistance in the 29.82 range. Technical indicators for the stock are Bullish and S&P gives DOW a neutral 3 STAR (out of ...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
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Chicago, IL – November 19, 2009 – Zacks Equity Research highlights CPFL Energia (CPL) as the Bull of the Day and The Medicines Company (MDCO) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Eastman Chemical Co.(EMN), Dow Chemical Company (DOW) and Dupont (DD).
We are maintaining our Outperform rating on CPFL Energia (CPL). The company posted in-line results for the third quarter of 2009, despite non-recurring items.
The company's outlook for the medium-term remains positive, mainly considering the more relaxed monetary policy in Brazil and the growing demand for electricity, even though there is the still-difficult business environment around the world.
Finally, CPL has a solid dividend payout and its valuation appears to be highly attractive, mainly considering the noncyclical nature of the company.
The Medicines Company’s (MDCO) third-quarter loss per share of 6 cents missed the Zacks Consensus Estimate of a loss of 5 cents. Although Angiomax continues to contribute significantly to revenues, we are concerned about the product losing exclusivity in the U.S. in September 2010.
The entry of generics would be devastating for the company. Therefore, the onus is on management to acquire and develop the next generation of products to drive the top-line. One of those products was expected to be Cangrelor. However, the failure of the phase III CHAMPION program was a significant setback.
Meanwhile, the Cleviprex sales ramp has also been slow. We recommend avoiding the name until we gain more visibility on the Angiomax patent situation, the Cleviprex ramp and the future of Cangrelor and Oritavancin.
Eastman Chemical Co. (EMN) has raised its full year 2009 earnings guidance to $3.50 per share from the initial guidance of $2 to $3 per share, driven by an expected strong growth in its core business. The company is hoping to deliver about 20% or over $6 per share growth in annual earnings by 2012, as the economy recovers completely.
The Zacks Consensus Estimate is pegged at $3.22 for 2009 and at 93 cents for the fourth quarter. Recently, Eastman’s close peers, Dow Chemical Company (DOW) and Dupont (DD) have also predicted strong growth in earnings.
Eastman stands to benefit from its business restructuring and cost-cutting measures, which are expected to result in cost savings of more than $200 million for the full year 2009. Eastman’s earnings of $1.38 per share in the third quarter of 2009 had bettered the Zacks Consensus Estimate of $1.13 per share helped by lower costs.
The company managed margins by reducing its operating costs. However, lower selling prices and volumes across all major segments resulted in a 21% year-over-year fall in Eastman’s top line of $1.3 billion for the quarter. Eastman’s core businesses, including Coatings, Adhesives, Specialty Polymers and Inks, Fibers, Performance Chemicals and Intermediates as well as Specialty Plastics suffered on weak demand from the automotive, building and construction, and packaging markets.
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Eastman Chemical Co. (EMN) has raised its full year 2009 earnings guidance to $3.50 per share from the initial guidance of $2 to $3 per share, driven by an expected strong growth in its core business. The company is hoping to deliver about 20% or over $6 per share growth in annual earnings by 2012, [...]
Eastman Chemical Co. (EMN) has raised its full year 2009 earnings guidance to $3.50 per share from the initial guidance of $2 to $3 per share, driven by an expected strong growth in its core business. The company is hoping to deliver about 20% or over $6 per share growth in annual earnings by 2012, as the economy recovers completely.
The Zacks Consensus Estimate is pegged at $3.22 for 2009 and at 93 cents for the fourth quarter. Recently, Eastman’s close peers, Dow Chemical Company (DOW) and Dupont (DD) have also predicted strong growth in earnings.
Eastman stands to benefit from its business restructuring and cost-cutting measures, which are expected to result in cost savings of more than $200 million for the full year 2009. Eastman’s earnings of $1.38 per share in the third quarter of 2009 had bettered the Zacks Consensus Estimate of $1.13 per share helped by lower costs.
The company managed margins by reducing its operating costs. However, lower selling prices and volumes across all major segments resulted in a 21% year-over-year fall in Eastman’s top line of $1.3 billion for the quarter. Eastman’s core businesses, including Coatings, Adhesives, Specialty Polymers and Inks, Fibers, Performance Chemicals and Intermediates as well as Specialty Plastics suffered on weak demand from the automotive, building and construction, and packaging markets.
Tennessee-based Eastman, which makes chemicals, plastics and fibers used in everything from paints to furniture, expects to benefit from a better product mix and cost reduction measures in the fourth quarter of 2009. However, the company expects volatility in raw material and energy costs and a decline in sales volume due to normal seasonality having a negative affect on the upcoming quarter.
Eastman expects the growth in earnings investments in sustainable products and emerging markets. The company is eyeing the cigarettes market, which is witnessing high growth on the back of strong demand from Russia and China. Strong demand for cigarettes will help earnings in the company's fibers unit, which also produces base materials for clothing. Eastman produces acetate tow, used to make filters for cigarettes. In the Performance Polymer segment, Eastman is expecting operating earnings of $25 to $50 million by monetizing IntegRex technology investment through licensing.
In a signal of confidence for the future of mergers-and-acquisitions (M&A), Lazard Ltd. (NYSE: LAZ) appointed Kenneth Jacobs as its chairman and chief executive officer following the unexpected death of famed dealmaker Bruce Wasserstein.[More...]
Companies featured in this segment: Pfizer Incorporated (NYSE:PFE), Monsanto Company (NYSE:MON), Alstom SA (EPA:ALO), Schlumberger Limited (NYSE:SLB), American Electric Power Company Incorporated (NYSE:AEP), The Dow Chemical Company (NYSE:DOW), StatoilHydro ASA (NYSE:STO), E.ON AG (OTC:EONGY), Total SA (NYSE:TOT), Royal Dutch Shell plc (NYSE:RDS.A), National Grid plc (NYSE:NGG), ArcelorMittal (NYSE:MT), RWE AG (OTC:RWEOY), E.ON AG (OTC:EONGY), Nestle S.A. (OTC:NSRGY)
Companies featured in this segment: Korea Electric Power Corporation (NYSE:KEP), Dow Chemical Company (NYSE:DOW), Electricite de France (EPA:EDF), E.ON AG (OTC:EONGY), RWE AG (OTC:RWEOY), International Power plc (LSE:IPR), GDF Suez (EPA:GSZ), Mitsubishi Corporation (TYO:8058), The Tokyo Electric Power Company (TYO:9501), Sumitomo Corporation (TYO:8053), Tenaga Nasional Berhad (MYX:5347), Kansai Electric Power Company (TYO:9503), Marubeni Corporation (TYO:8002), Areva SA (EPA:CEI), Alstom SA (EPA:ALO), NTPC Limited (BSE:532555), Jindal Steel and Power Limited (BSE:532286), Tata Power Company Limited (BOM:500400), Vedanta Resources plc (LSE:VED)
Companies featured in this segment: Exxon Mobil Corp.'s (NYSE:XOM), Royal Dutch Shell plc (NYSE:RDS-A), The Dow Chemical Company (NYSE:DOW), Royal Dutch Shell plc (NYSE:RDS.A), Chevron Corporation (NYSE:CVX), Marathon Oil (NYSE:MRO), BASF SE’s (OTC:BASFY), TransAlta Corportation (TSX:TA), Capital Power (TSX:CPX), Alstom SA (EPA:ALO)
Companies featured in this segment: ABB Limited (NYSE:ABB), Dow Chemical Company (NYSE:DOW), Eastman Chemical Company (NYSE:EMN), Siemens AG (NYSE:SI), TransCanada Corporation (NYSE:TRP), National Grid plc (NYSE:NGG), Royal Shell (NYSE:RDS.A), E.I. du Pont de Nemours & Company (NYSE:DD), BASF SE (OTC:BASFY), E.ON AG (OTC:EONGY), GDF Suez (OTC:GDFZY)
Companies featured in this segment: NRG Energy Incorporated (NYSE:NRG), Fluor Corporation (NYSE:FLR), Dresser-Rand Group Incorporated (NYSE:DRC), Southern Company (NYSE:SO), BP plc (NYSE:BP), American Electric Power Company Incorporated (NYSE:AEP), General Electric Company (NYSE:GE), Hitachi Limited (NYSE:HIT), Arch Coal Incorporated (NYSE:ACI); Peabody Energy Corporation (NYSE:BTU), China Petroleum & Chemical Corporation (NYSE:SNP), Total SA (NYSE:TOT), China National Offshore Oil Corporation (NYSE:CEO), The Dow Chemical Company (NYSE:DOW), Foster Wheeler AG (NASDAQ:FWLT), ABB Limited (NYSE:ABB), Boubyan Petrochemical Company KSC (KUW:BPCC), Qurain Petrochemical Industries Company KSC (KUW:ALQURAIN), Technip (OTC:TKPPY), National Bank of Kuwait (KUW:NBK), Kuwait Finance House KSC (KUW:KFIN), Larsen & Toubro Limited (BSE:500510), Oil and Natural Gas Corporation (BSE:500312), Indian Oil Corporation Limited (BSE:530965), E.ON (OTC:EONGY), OAO Gazprom (OTC:OGZPY)
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