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Hi lady*b,
Trying to learn here...
--Since there are many SEC filings (10k,8k,10q,10sb, just to name a few) out there on any given company, in your opinion what is the most important filings that an investor should pay attention most?
--Any tips on what to look for when reading these filings?
Thanks! your help is appreciated..
Aw, it's all dusty over here... *sniff*
BOARD: I am keeping this board's links in the ibox for reference and am happy to help anybody with fundamental analysis.
However, many posters here have followed both Serfdom and me
to a new board where we cover pinks to blues.
Please join us there for daily picks and great dissection of these picks: http://www.investorshub.com/boards/board.asp?board_id=3961
Feel free to use this board for strict f/a discussion and
securities that are worthy of such.
We had many great discoveries with these topics and found some great long plays.
Thanks for everybody's contributions and I look forward to learning about more great companies in the new year.
yeah, EZ it was moving nicely premarket! weeeeeeeeeee
brig ~~~ what's up !?!?!?!?!!!!!!
CDC CORPORATION CL-A (NasdaqGM:CHINA) Delayed quote data
Last Trade: $9.40
Trade Time: 9:54AM ET
Change: +0.44 (4.91%)
Prev Close: 8.96
Open: 9.15
Bid: 9.40 x 1500
Ask: 9.41 x 800
1y Target Est: 7.94
Day's Range: 9.13 - 9.58
52wk Range: 3.06 - 9.27
Volume: 2,145,076
Avg Vol (3m): 2,691,640
Market Cap: 998.35M
P/E (ttm): 76.50
EPS (ttm): 0.12
Div & Yield: N/A (N/A)
1d 5d 3m 6m 1y 2y 5y max
love the word "accretive" !!
CDC Buys Vis.align for Undisclosed Terms
Monday December 4, 10:20 am ET
CDC Buys Vis.align for Undisclosed Terms, Expects Deal to Be Accretive to 2007 Earnings
NEW YORK (AP) -- Hong Kong-based CDC Corp., a software company and owner of Chinese Internet portal China.com, said Monday its CDC Software subsidiary bought Vis.align Inc., a provider of information technology services.
The company did not give financial terms of the deal, which closed on Friday. Privately held Vis.align is based in West Chester, Pa.
CDC said the acquisition will help its software segment offer expanded services to its business customers.
Vis.align had 2005 sales of more than $20 million, CDC said. CDC added that it expects the acquisition to be accretive to its earnings in 2007.
The deal includes a two-year earn-out, which if achieved, will be paid in cash and CDC shares, the company said.
CDC's shares rose 17 cents to $9.04 in morning trading on the Nasdaq.
AOB has reacted very well to that, E. Closed today at $10.45
remember me ?? (FINL)
7:02AM Finish Line reports Q3 sales of $281.5 mln vs $280.2 mln consensus; sees EPS of -$0.06 to -$0.08 vs -$0.09 consensus (FINL) 13.03 : The co did not repurchase any shares of Class A Common Stock during Q3 under the current stock repurchase authorization, which expires December 31, 2007.
No team(I wish there was)just me working on it. :o) I've started thinking though maybe eventually, making it so people get a percentage of the ads on the pages they create. What do you think of this?
When I first started learning about trading, I found the information in all the books and articles I was reading to be overwhelming and confusing to keep organized in my head. I figured the best solution would be to start a wiki, to help straigten it out. But its since turned into more of a reference guide. Mainly I was thinking that if I found this useful, most likely others would to.
Once again thanks for your thoughts, I appreciate all and any.
Press Release Source: American Oriental Bioengineering, Inc.
American Oriental Bioengineering Announces Approval for Listing on New York Stock Exchange
Tuesday November 28, 8:30 am ET
Company Expects to Commence NYSE Trading in December 2006
NEW YORK, Nov. 28 /PRNewswire-FirstCall/ -- American Oriental Bioengineering, Inc., (Amex: AOB; NYSE Arca: AOB), a leading manufacturer and distributor of plant-based pharmaceutical and nutraceutical products in China, announced today it has received approval for listing on the New York Stock Exchange (NYSE). The Company anticipates its shares of common stock will begin trading on the NYSE on December 18, 2006. Until that time, the Company's shares will continue to trade on the American Stock Exchange and the NYSE Arca exchange under the symbol "AOB".
"We are proud to be among a very select group of China-based companies to list on the NYSE, as well as the first China-based pharmaceutical and nutraceutical company to list on the NYSE, and we expect this event to raise our visibility in the global financial markets. By transferring to one consolidated trading platform at the NYSE, we believe we can achieve greater price efficiency which will ultimately more accurately reflect shareholder value," said Tony Liu, Chairman and CEO of AOB. "We thank our partners at the American Stock Exchange and the NYSE Arca for the important role they played in our evolution. We are excited to move forward with this new chapter in our Company's history."
AOB's products are distributed throughout all 28 provinces in China. The market for pharmaceutical products in China is expected to be the world's largest by 2020, and is currently estimated at $50 billion. The Company listed on the American Stock Exchange in July 2005 and on the NYSE Arca in November 2005. Today, AOB has a market capitalization of over $600 million and net cash per share of $0.97 as of September 30, 2006. AOB reported third quarter 2006 revenue growth of 102% to $27.0 million and net income growth of 104% to $7.6 million versus the prior year's quarter.
"AOB provides many of the leading pharmaceutical and nutraceutical products in China, and is a known brand in one of the world's largest healthcare markets," said John A. Thain, CEO of NYSE Group, Inc. "On behalf of the NYSE Group, I am very pleased to extend our relationship with AOB as the company enters the next stage of growth and look forward to providing the highest levels of market quality to the company and its shareholders."
About American Oriental Bioengineering Inc.
American Oriental Bioengineering Inc. (AOB) is engaged in the development and production of plant-based pharmaceutical products and plant-based nutraceutical products widely distributed throughout China. For more information, visit http://www.bioaobo.com.
About NYSE Group, Inc.
NYSE Group, Inc. (NYSE: NYX - News) operates two securities exchanges: the New York Stock Exchange (the "NYSE") and NYSE Arca, Inc. (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. In the third quarter of 2006, on an average trading day, 2.2 billion shares, valued at $80.1 billion, were traded on the exchanges of the NYSE Group.
The NYSE is the world's largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies' common stock and other securities. On September 30, 2006, the operating companies listed on the NYSE represented a total global market capitalization of $23.1 trillion.
NYSE Arca operates NYSE Arca, Inc., the first open, all-electronic stock exchange in the United States, and has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca, Inc. is also an exchange for trading equity options. NYSE Arca's trading platforms provide customers with fast electronic execution and open, direct and anonymous market access.
NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
--------------------------------------------------------------------------------
Source: American Oriental Bioengineering, Inc.
China.com Shareholders OK Timeheart Buy
Tuesday November 28, 7:48 am ET
China.com Shareholders Approve $15.7 Million Purchase of Timeheart
NEW YORK (AP) -- CDC Corp., owner of Chinese Internet portal China.com, said Tuesday the unit's shareholders unanimously approved its planned $15.7 million acquisition of Timeheart, which provides mobile services such as short messaging.
CDC, which also provides enterprise software applications and gaming services, said it expects the deal to add to earnings. The transaction is expected to close this week.
China.com said its CDC Mobile unit will operate the newly acquired business.
Timeheart, operating primarily in the northeastern and western provinces of China, logged a 2005 profit of about $3.5 million.
It's a challenging question for me, ehya. It seems you are attempting to cover every aspect of the markets which is commendable - yet a monster of an achievement. I suggest you find your biggest strength, and the markets need to get your niche in.
A great place for tools is http://www.investopedia.com
Feel it out and see what gets the most hits I suppose.
I'll keep checking on it to see if I have other ideas for you.
Do you have a large team working on it?
Ok - Thankyou so much for checking it out and providing me with some feedback. It's the first I've gotten from someone I don't know. :o)
So, yes its a site I started. I want the site to be a quickly accessible refernce guide for day trading information. I'm trying to focus it toward relevant, current information instead of historical information; which is what wikipedia seems more focused on. A good comparison would be the difference in our Apple Computer pages. Your right, there isnt to much on there yet, I have about 240 articles covering varying topics; you can explore them in more depth from the main page.
I added a link to the sec.gov site on my F/A page like you suggested.
If there is anything else you think of that might improve the site, please let me know or if you like make what ever changes you see fit.
Once again, thanks for checking it out, I really value your opinion on this.
Ok- So I just checked it out. Little start up site with nothing much on it and less than 1500 views so far.
Looks like there is some potential there, fwiw.
Hmmmmmmmm. Is this by chance a site of yours?
In my opinion, any site that can put you on the right path with numbers and links is a start, but ultimately it should all come down to one very important site for the hard core facts and fundies: http://www.sec.gov
Hi lady,
what do you think of wikistock.com for F/A info?
TEAM F/A BOARD TO BE UNDER CONSTRUCTION THIS WEEKEND. Time for a makeover. :) Please visit us at the FAT CATS board in the meantime. Thanks. (Fat Cats) http://www.investorshub.com/boards/board.asp?board_id=3961
Bridget
SHAZAM!!!!!!!!!
BINGO !!
CDC CORPORATION CL-A (NasdaqGM:CHINA) Delayed quote data
After Hours: 7.58 +0.51 +7.21%
CDC swings to quarterly income; revenue gains
By Ruth Mantell
Last Update: 4:39 PM ET Nov 14, 2006
SAN FRANCISCO (MarketWatch) -- CDC Corp. (CHINAcdc corp shs a
CHINA ) after Tuesday's closing bell said it swung to third-quarter net income, as revenue gained, of $3.1 million, or 2 cents a share. For the same period in the prior year, the enterprise software company reported a net loss of $1.24 million, or a penny a share. Before items, quarterly per-share income rose to 9 cents from 3 cents in the prior year. CDC said revenue for the third quarter rose to $78.2 million from $61.9 million in the prior year. For fiscal 2006, the company sees revenue of $303 million to $307 million, and adjusted income of $32 million to $33.3 million. For fiscal 2007, the company sees revenue of $401 million to $411 million, and adjusted income of $55 million to $60 million.
.
EDU-New Oriental Announces Expansion into Professional Certification Preparation
Monday November 13, 8:00 am ET
Leader in Chinese Private Education Enters New Growth Market
BEIJING, Nov. 13 /Xinhua-PRNewswire/ -- New Oriental Education and Technology Group Inc. (NYSE: EDU - News), the largest provider of private educational services in China, today announced the establishment of the Beijing New Oriental North Star Training School. The new school is the first step in New Oriental's expansion into the professional certification preparation field, which includes preparation for the PRC bar, Certified Public Accountant (CPA) and civil service exams.
ADVERTISEMENT
''China's rapid growth in recent years has created large demand for certified professionals by Chinese and multinational companies as well as government agencies,'' said New Oriental's Chairman and Chief Executive Officer, Mr. Michael Yu. ''The result has been a corresponding increase in demand for high quality professional certification preparation courses and materials, which New Oriental is in a unique position to provide.''
http://biz.yahoo.com/prnews/061113/cnm017.html?.v=12
brig ~~ what do you think of CMP ?
Morningstar.com
Consider Salting This Stock Away
Monday November 13, 6:00 am ET
By Paul A. Larson
One of the features of our StockInvestor newsletter is that I routinely publish detailed notes from our visits with companies that are of interest. In mid-September, analyst Parvathy Krishnan, my colleague Josh Peters over at DividendInvestor, and I all traveled to Kansas City to meet with the management of Hare Portfolio holding Compass Minerals. We met with new CEO Angelo Brisimitzakis and longtime CFO Rod Underdown for nearly three hours to talk about the business.
Compass Minerals is a salt miner that gets about half of its revenues from rock salt used primarily for highway deicing, one third of its revenues from general trade salt used for human consumption and other industrial uses, and the balance from sulfate of potash, a salt primarily used in specialty fertilizers.
The Source of Compass' Moat
What got me interested in Compass in the first place was the fact that the company operates the largest salt mine in North America as well as the largest salt mine in the U.K., and these mines are the lowest-cost producers in their respective markets. After meeting with management, I got much greater clarity into the structure of the competitive advantage, and I'm glad to report the advantages are exceptionally sustainable.
Salt is one of the most plentiful commodities on the planet, but it can be economically mined only in a relatively few places. Plus, with a low value/weight ratio, transportation costs are critical. The good news is Compass has very good water transportation infrastructure nearby; its main mine in Goderich, Ontario--responsible for just under half the company's production--is literally under Lake Huron with an on-site deep-water port. Plus, the ore bodies the firm is mining are inherently low-cost. Management explained that the vein it is mining at Goderich is over 100 feet thick. This compares favorably with two competing mines under Lake Erie in Ohio that are of a smaller scale with only about a 30-foot-thick vein.
With only three mines that can realistically supply roadway deicing salt to the wider Great Lakes area, and Compass' mine being greatly cost-advantaged versus the other two, it's clear where the moat is and how the high returns on capital are generated.
Management explained that in the mainland U.K.--where the firm has a mine that is responsible for about 10% of the company's production--there are no imports of rock salt (thanks largely to transport cost) and only three mines in the country. Compass' main competitor in the U.K. is mining a vein that is at an extreme cost disadvantage to Compass. Underdown said this rival has 13 times the number of employees that Compass has at its mine, even though Compass runs the larger mine. Compass' mine is also more than 10 times larger than the other competitor.
In an interesting twist, they also explained how they are indirectly in the real estate business in the U.K. Because real estate is so scarce and valuable there, Compass is starting to use the old parts of the U.K. mine for tangential and high-return businesses like document and waste storage. And because the mine is more than 160 years old, there is plenty of subterranean space.
The rest of the firm's mines operate on what we believe is more or less a level playing field with the competition. But with only two competing companies in North America, even a merely average mine can still generate solid returns.
About Salt
There are a couple things inherently attractive about the salt industry today. First and foremost, it is an oligopoly. Rohm and Hass (NYSE:ROH - News) and private company Cargill provide the only meaningful competition. Quite simply, oligopolistic companies tend to have moats. Second, salt is unlike other commodity natural resource industries where companies are always on the resource-replacement treadmill. All of Compass' mines are projected to have in excess of 100 years worth of reserves at today's production levels. Any oil or metal mining company would kill to have this sort of reserves stability.
While the sale of rock salt is obviously dependent on the weather, sales are not economically sensitive. Especially given our increasingly litigious society, roads and sidewalks will still need to be cleared of snow and ice no matter if the economy is booming or if it is slowing. Plus, Brisimitzakis explained that a large chunk of the company's sales are to government agencies, which are generally not too price-sensitive. Brisimitzakis correctly pointed out that the quickest way for a mayor to get unelected is to not effectively clear the roads.
Finally, I personally like that Compass is a bit of an oddball company to follow. There are only two competitors, with one being private and the other being a large chemicals conglomerate. Wall Street does not have any analysts focused purely on salt, so this stock flies a bit under the radar and has a greater chance of periodically being mispriced.
Porter's Five Forces for Compass
Looking at the economic moat through the lens of the Porter's Five Forces model, Compass looks quite favorably positioned:
* Degree of rivalry: Low (Oligopoly)
* Threat of substitutes: Nearly zero (No economical alternatives to salt)
* Supplier power: Not applicable (Mother Earth is the supplier)
* Buyer power: Low (Many small buyers)
* Barriers to entry: Very high (Huge incumbent cost advantage)
Future Cash-Flow Plans
One of the reasons we flew down to Kansas City was to see what exactly management had planned for the cash flow the company is currently generating. When a new CEO comes in to a small, well-run company, I'm always worried about the possibility that he or she will start "empire building" by reinvesting the cash in low-return, no-moat businesses.
Thankfully, Brisimitzakis appears to have the proper strategy by taking a sort of Hippocratic oath in saying his first principle is to "do no harm." In his eyes, this means focusing his efforts on operating the existing business more efficiently and with lower cost. I hope our pleas for the company to stick to its knitting resonated with management.
This likely means that the first priority of excess cash flow will continue to be reducing the cost of its debt, since Compass does remain highly leveraged financially. The firm refinanced at lower rates a large chunk of debt in late 2005, and it has still more bonds outstanding with a staggering 12% coupon, a remnant from its days of being the subject of a leveraged private equity buyout. These high-coupon bonds are callable in 2007, and Brisimitzakis and Underdown said reducing the rate the firm is paying is highly important. They did, however, say they were comfortable with the absolute level of the debt being carried, given the relative stability of the underlying business and its cash flow.
One silver lining of being a company just out of a private equity situation is that management believes it has plenty of high-return internal growth opportunities. When the company was owned by entities that had a two- to three-year investment time horizon, they did not invest in business opportunities that may have had a payoff beyond that time frame. After all, you don't do a custom paint job on a home you plan on selling soon. But now that long-term owners are in place, long-term projects with long-term returns--like expanding production and upgrading large-scale equipment--can begin.
While Brisimitzakis and Underdown obviously could not make any promises on this front, they did appear to respect the continuing importance of paying a regular dividend.
The Bottom Line
While Compass only has a narrow economic moat rating due to the commodity nature of its business, it is clearly on the narrow-wide borderline. I also like that the competitive advantages look to be very long-lived.
One of the cornerstone ideas of being a value investor is that if you would not be happy to buy the entire company, you should not buy a single share of the stock. All three of us who traveled to Kansas City agreed that we'd gladly buy all of this company if we had the means and the price was right. (Anyone care to loan me a couple hundred million?) I think coming out of the meeting with this feeling bodes well for the position owned in the Hare Portfolio.
This article originally appeared in the October issue of StockInvestor.
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EGY: VAALCO Energy's 3rd Quarter Net Income Climbs 14%
Thursday November 9, 9:15 am ET
HOUSTON, Nov. 9 /PRNewswire-FirstCall/ -- VAALCO Energy, Inc. (NYSE: EGY - News), announced that for the third quarter of 2006 its net income was $13.6 million, or $0.22 per diluted share, up 14% from its net income of $11.9 million, or $0.20 per diluted share, for the comparable period in 2005. Revenues were $25.6 million in the third quarter of 2006, compared with $26.2 million in the third quarter of 2005.
ADVERTISEMENT
VAALCO sold 391,000 net barrels of crude oil equivalent at an average price of $65.50 per barrel during the third quarter of 2006, compared to 451,000 net barrels of crude oil equivalent at an average price of $58.71 per barrel in the third quarter of 2005.
For the nine months ended September 30, 2006, the Company earned $35.1 million, or $0.58 per diluted share, an increase of 45% from VAALCO's earnings of $24.2 million, or $0.41 per diluted share, in the nine months ended September 30, 2005. Nine-month revenues increased 25% to $82.5 million from $66.0 million.
Crude oil sales for the nine months ended September 30, 2006 were 1,277,000 net barrels of oil equivalent compared with 1,311,000 net barrels for the nine months ended September 30, 2005. Average crude oil sales prices increased 28% to an average $64.54 per barrel of oil equivalent for the nine months ended September 30, 2006.
Robert L. Gerry, III, Chairman and CEO, stated, "During the third quarter, the Etame field offshore Gabon, West Africa, continued to perform well for the Company. We completed the installation of the drilling platform in the adjacent Avouma field and the pipeline that will tie Avouma to the Etame production facilities. We are currently drilling two development wells in Avouma and hope that this field will become a new source of revenue later this year.
"To expand our exploration portfolio, earlier this month we signed a Production Sharing Agreement with the Government of Angola for a 40% interest in the 1.4 million-acre Block 5 concession offshore Angola. That represents our third exploration concession, along with Etame and the onshore Mutamba Iroru concession in Gabon."
Financial results:
(Unaudited - in thousands of dollars)
Three Months Ended Sept. 30, Nine Months Ended Sept. 30,
2006 2005 2006 2005
Revenues 25,640 26,240 82,452 65,983
Operating costs
and expenses 5,352 4,743 17,009 16,238
Operating Income
(Loss) 20,288 21,497 65,443 49,745
Other Income
(Expense) 649 171 1,243 475
Income tax
expense (6,280) (8,306) (27,077) (23,089)
Income (loss) from
discontinued
operations 488 (25) (241) (16)
Minority Interest
in earnings
of subsidiaries (1,555) (1,434) (4,314) (2,952)
Net Income 13,590 11,903 35,054 24,163
Basic Income per
Common Share $0.23 $0.21 $0.61 $0.48
Diluted Income per
Common Share $0.22 $0.20 $0.58 $0.41
Discretionary cash flow, a non-GAAP financial measure of the amount of cash generated that can be used for working capital, debt service or future investments, was $17.2 million and $45.5 million for the three months and nine months ended Sept. 30, 2006, respectively.
CBZ regarding insider purchases: http://www.fool.com/news/commentary/2006/commentary06110821.htm?source=eptyholnk303100&logvisit=...
I think they will do well. Pull up a 2 year chart. You have permission to post it here.
Lady - RICK question
Today they announced +18% YoY nightclub sales...are they going to do well? Chart is scary. Maybe it's that acquisition?
EGY: VAALCO Energy Announces Signing of PSA With Angola
EGY
$8.13
-0.19 -2.3%
Released : Tuesday, November 07, 2006 2:48 PM
HOUSTON, Nov. 7 /PRNewswire-FirstCall/ -- VAALCO Energy, Inc. (NYSE: EGY), (the "Company) announced today that the official signing of the Production Sharing Agreement (PSA) for Block 05/06 offshore Angola occurred on November 2, 2006 in Luanda, Angola.
VAALCO has a 40% interest in the block, and will be the operator of the concession for its partners Interoil Exploration & Production ASA (40%) and Sonangol (20%).
Block 5 covers an offshore area of approximately 1.4 million acres. During the 1980's and 1990's twelve wells were drilled on the block with at least five successfully discovering hydrocarbons, though none of the discoveries were developed at that time. A 3D survey has been shot and VAALCO and its partners are preparing to reprocess and interpret the data in anticipation of exploratory drilling in the later part of 2007 or early 2008.
In connection with the award of the block, VAALCO will pay a signing bonus of $10.5 million. The block has a term of four years during which two exploration wells must be drilled. A further three-year extension is available for a commitment of additional seismic work and two additional exploration wells.
This press release includes "forward-looking statements" as defined by the U.S. securities laws. Forward-looking statements are those concerning VAALCO's plans, expectations, and objectives for future drilling, completion and other operations and activities. All statements included in this press release that address activities, events or developments that VAALCO expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include future production rates, completion and production timetables and costs to complete well. These statements are based on assumptions made by VAALCO based on its experience perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond VAALCO's control. These risks include, but are not limited to, inflation, lack of availability goods, services and capital, environmental risks, drilling risks, foreign operational risks and regulatory changes. Investors are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. These risks are further described in VAALCO's annual report on form 10K/SB for the year ended December 31, 2003 and other reports filed with the SEC which can be reviewed at http://www.sec.gov , or which can be received by contacting VAALCO at 4600 Post Oak Place, Suite 309, Houston, Texas 77027, (713) 623-0801.
SOURCE VAALCO Energy, Inc.
CONTACT: W. Russell Scheirman of VAALCO Energy, Inc., +1-713-623-0801
Copyright 2006 PR Newswire
Provider:
CHINA: ($6.58) CDC Corporation Boosts Guidance Upwards for 2006
Tuesday November 7, 6:08 am ET
Second Upward Revision in Four Months
BEIJING and ATLANTA, Nov. 7 /Xinhua-PRNewswire-FirstCall/ -- CDC Corporation (Nasdaq: CHINA) focused on enterprise software applications, mobile applications and online games, today announced that based on preliminary financial data, the company expects total revenues for the fiscal year ended December 31, 2006 to be in the range of US$303 million to US$307 million, an increase of over 24 percent over 2005's revenues. The company anticipates *adjusted net income to be in a range of $32.0 million to $33.3 million, an increase of over 100% over 2005's results. This is the second time in four months that the company has upwardly revised its fiscal year outlook.
"Once again, we are pleased to revise our full year estimates," said Peter Yip, CEO of CDC Corporation. "Our confidence in our 2006 numbers stems from both robust organic growth as well as the synergies being realized from acquisitions we have made, which have exceeded our expectations."
The company anticipates reporting third quarter results the week of November 13 2006.
*Adjusted Financial Measures
To supplement the financial measures prepared in accordance with United States generally accepted accounting principles ("GAAP"), the company uses Non-GAAP financial measures for net income and other line items, which are adjusted from results based on GAAP. These Non-GAAP measures are provided to enhance the user's overall understanding of the company's current financial performance and its prospects for the future. The company believes the Non-GAAP results provide useful information to both management and investors. Although the company continues to report GAAP results to investors, it believes the inclusion of Non-GAAP financial measures provides further clarity in its financial reporting. These Non-GAAP financial measures may be different from Non-GAAP financial measures used by other companies, and should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP measures.
The Company defines adjusted net income as net income adjusted for certain purchase accounting related charges and restructuring expenses. The purchase accounting related charges are primarily related to the non-cash amortization of acquisition related intangibles and non-cash tax charges related to our utilization of acquired tax net operating loss carry forwards. Restructuring charges typically result as we consolidate acquired companies to achieve operational synergies. The Company cannot at this point in time, without unreasonable efforts, quantify such purchase accounting related charges and restructuring expenses.
A reconciliation of 2005 adjusted net income to GAAP can be found in the Company's earnings release for the full year 2005 dated April 12, 2006.
EBITDA excludes interest income and expenses, taxes, depreciation, amortization of acquired intangible assets, restructuring charges and stock based compensation expenses.
The estimates presented in this press release are preliminary and are based on management's belief and best estimate and assume the completion of certain acquisitions in Q4, 2006.
About CDC Corporation
The CDC family of companies includes CDC Software focused on enterprise software applications and services, CDC Mobile focused on mobile applications, CDC Games focused on online games, and China.com focused on portals for the greater China markets. For more information about CDC Corporation (Nasdaq: CHINA), please visit www.cdccorporation.net .
About CDC Software
CDC Software, The Customer-Driven Company(TM), is a provider of comprehensive enterprise software applications and services designed to help businesses thrive and become customer-driven market leaders. The company's industry-specific solutions are used by more than 5,000 customers worldwide within the manufacturing, financial services, health care, home building, real estate, and wholesale and retail distribution industries. CDC Software's product suite includes Pivotal CRM (customer relationship management), c360 CRM add-on products, industry solutions and development tools for the Microsoft Dynamics CRM platform, Ross ERP (enterprise resource planning) and SCM (supply chain management), MVI real-time performance management, IMI warehouse management and order management, Platinum China HR (human resource) and business analytics solutions. CDC Software is ranked number 18 on the Manufacturing Business Technology 2006 Global 100 List of Enterprise and Supply Chain Management Application vendors. For more information, please visit: www.cdcsoftware.com .
About China.com Inc.
China.com Inc. (stock code: 8006; website: www.inc.china.com), a leading MVAS and Internet services company operating principally in China was listed on the GEM of the Stock Exchange of Hong Kong Limited on March 9, 2000. In December 2000, China.com Inc. was admitted as a constituent stock of the Hang Seng IT and IT Portfolio Indices.
About CDC Games
CDC Games Limited is focused on building a diversified mix of online game assets and strategic alliances and is a business unit of CDC Corporation. CDC Games is one of the market leaders of online and mobile games in China with over 37 million registered users.
About CDC Mobile
CDC Mobile is focused on providing MVAS products to subscribers in China and is a business unit of CDC Corporation.
Cautionary Note Regarding Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding future revenues and other statements that are not historical fact, the achievement of which involve risks, uncertainties and assumptions. These statements are based on management's current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward- looking statements, including the following: (a) the ability to realize strategic objectives by taking advantage of market opportunities in targeted geographic markets; (b) the ability to make changes in business strategy, development plans and product offerings to respond to the needs of current, new and potential customers, suppliers and strategic partners; (c) the effects of restructurings and rationalization of operations; (d) the ability to address technological changes and developments including the development and enhancement of products; (e) the ability to develop and market successful Advanced Mobile Products; (f) the entry of new competitors and their technological advances; (g) the need to develop, integrate and deploy enterprise software applications to meet customer's requirements; (h) the possibility of development or deployment difficulties or delays; (i) the dependence on customer satisfaction with the company's software products and services; (j) continued commitment to the deployment of the enterprise software solutions; (k) risks involved in developing software solutions and integrating them with third-party software and services; (l) the continued ability of the company's enterprise software solutions to address client- specific requirements; (m) demand for and market acceptance of new and existing enterprise software and services and the positioning of the company's solutions; and (n) the ability of staff to operate the enterprise software and extract and utilize information from the company's enterprise software solutions. If any such risks or uncertainties materialize or if any of the assumptions proves incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. Further information on risks or other factors that could cause results to differ is detailed in filings or submissions with the United States Securities and Exchange Commission made by CDC Corporation in its Annual Report for the year ended December 31, 2005 on Form 20-F filed on June 21, 2006. All forward- looking statements included in this press release are based upon information available to management as of the date of the press release, and you are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this press release. The company assumes no obligation to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
For More Information:
Investor Relations
Monish Bahl
CDC Corporation
Tel: +1-678-259-8510
Email: monishbahl@cdcsoftware.com
Media Relations
Scot McLeod
CDC Corporation
Tel: +1-770-351-9600
Email: ScotMcLeod@cdcsoftware.com
http://biz.yahoo.com/prnews/061107/hktu006.html?.v=24
Monday's biggest stock gainers and decliners
Monday November 6, 2:17 pm ET
By Michael Baron
Advancers
Shares of Accredited Home Lenders Holding Co. (NASDAQ:LEND - News) gained after the mortgage company specializing in non-prime residential mortgage loans said quarterly profit fell to $18.4 million, or 83 cents a share, from $41.3 million, or $1.87 a share a year earlier. Revenue fell to $114.3 million from $151.8 million.
AES Corp. (NYSE:AES - News) reported a third-quarter loss as massive restructuring in its Brazilian utility operations took a big bite out of the bottom line, but underlying results from ongoing operations turned in a strong performance.
Barr Pharmaceuticals Inc. (NYSE:BRL - News) said its Duramed Pharmaceuticals unit has begun shipments of dual-label Plan B emergency contraceptive. The Woodcliff Lake, N.J., company said the over-the-counter/prescriptiuon product will be available in pharmacies across the U.S. by mid-November. Barr also said the Food and Drug Administration has granted Duramed three-year exclusivity for Plan B, valid until August 2009. Plan B will be sold over the counter to customers age 18 or older, and prescription-only for women 17 and younger. It replaces prescription-only Plan B, which has been sold in the U.S. since 1999.
Bema Gold (NYSE:BGO - News) agreed to be acquired by Kinross Gold Corp. (NYSE:KGC - News) in a $3.1 billion deal. Under the terms of the deal, each Bema common share will be exchanged for 0.441 of a Kinross common share. After the deal closes, 61% of the combined company will be owned by existing Kinross shareholders and 39% by existing Bema shareholders. The new company would be lead by Kinross' management team. The combined company would have mineral reserves and resources of 50 million ounces of gold; 80 million ounces of silver and 2.9 billion pounds of copper. Bema shareholders will vote on the deal in mid January. Bema would be required to pay a breakup fee of C$79 million under certain circumstances.
Boston Scientific Corp. (NYSE:BSX - News) shares surged Monday after the medical device maker issued a 2007 sales range forecast above Wall Street's average expectations.
Chattem (NASDAQ:CHTT - News) was upgraded to buy from neutral at SunTrust Robinson Humphrey.
Cisco Systems (NASDAQ:CSCO - News) shares got a nice boost in midday trades. The networking giant is expected to report its fiscal first-quarter results on Wednesday.
Columbia Equity Trust (NYSE:COE - News) agreed to be acquired by a fund owned by J.P. Morgan Chase & Co for $502 million in cash. The deal, which includes the assumption of $213 million in debt, represents a 12.4% premium over Columbia's closing share price on Friday. Columbia Equity's real-estate portfolio includes over 3 million square feet of office space mostly in Northern Virginia, Maryland and Washington, D.C.
CombinatoRx Inc. (NASDAQ:CRXX - News) shares jumped after the Cambridge, Mass.-based company announced positive preliminary results of its Phase II clinical trial of CRx-102 in rheumatoid arthritis. CRx-102 demonstrated statistically significant improvements on primary and secondary endpoints, the company said. "We are extremely pleased with the results of CRx-102 in this third proof-of-concept clinical study," said Alexis Borisy, president and chief executive, in a statement.
Corrections Corp. of America (NYSE:CXW - News) said third-quarter earnings rose to $26.1 million, or 42 cents a share, from $20.8 million, or 34 cents a share, a year earlier. Revenue increased to $339.3 million from last year's $304.4 million, with total compensated man-days rising to 6.3 million from 5.9 million, and revenue per compensated man-day growing to $52.81 from $50.82. Analysts surveyed by Thomson First Call had been expecting earnings of 40 cents a share and $333.8 million, on average. For the fourth quarter, the Nashville prison facility operator expects earnings of 42 to 45 cents a share vs. analyst forecasts of 42 cents a share.
Elkcorp (NYSE:ELK - News) said its management and board are engaged in a review of the company's strategic options, including a possible sale or merger. The Dallas-based maker of roofing and building products has hired UBS Investment Bank to assist with the process.
El Paso Corp. (NYSE:EP - News) said it swung to a third-quarter profit as it exited the domestic power business and restructured its bank facilities.
Four Seasons Hotels Inc. (NYSE:FS - News) said it's received a $3.7 billion takeover offer from a group of private investors including its current CEO, Saudi prince Alwaleed Bin Talal and Microsoft's Bill Gates.
Gilat Satellite Networks Ltd. [s; gishares rose 5% to $9.25 in Monday morning trade after the Israel-based company reported third-quarter net earnings of $2.71 million, or 11 cents a share. Excluding certain items, Gilat's per-share profit came in at 1 4 cents. In the same quarter last year, the company posted a net loss of $1.73 million, or 8 cents a share. Revenues rose to $63.8 million from $49 million.
Genlyte Group (NASDAQ:GLYT - News) reported third-quarter earnings of $38 million, or $1.32 a share, up from a year-ago profit of $21.9 million, or 77 cents a share. Sales jumped 26% in the three months ended Sept. 30 to $410.4 million from $325.6 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was looking for a profit of $1.11 per share from the Louisville, Ky., maker of lighting fixture in the September period.
Houston Wire & Cable Co. (NASDAQ:HWCC - News) shares rose after the company said its third-quarter earnings doubled to $9.47 million, or 45 cents a share, from $3.9 million, or 23 cents a share, in the year-ago period. Revenue rose to $90 million from $58.3 million. Analysts polled by Thomson First Call had forecast a per-share profit of 32 cents. The company expects 2006 earnings of $1.47 to $1.54 a share on organic revenue growth of 48% to 52%. Houston Wire also said it is still looking to achieve its long-term earnings target of 15% to 20% growth.
Kos Pharmaceuticals (NASDAQ:KOSP - News) agreed to be acquired by Abbott Laboratories (NYSE:ABT - News) for $3.7 billion.
L-1 Identity Solutions (NYSE:ID - News) was upgraded to buy from hold at Needham & Co. The firm kept intact its $17 price target.
Macrovision (NASDAQ:MVSN - News) was initiated with an outperform rating at Cowen & Co.
Marvel Entertainment (NYSE:MVL - News) said third-quarter net income fell 44% to $13.2 million, or 16 cents a share, from $23.4 million, or 23 cents a share in the year-ago period. Sales rose to $92.1 million from $81.1 million. The latest quarter includes a charge of $700,000 for stock compensation expenses. Analysts surveyed by Thomson First Call forecast earnings of 12 cents a share and revenue of $85.5 million, on average. The company now expects 2006 net income of 61 to 64 cents a share, up from the earlier estimate of 50 cents to 60 cents a share. The company also said it expects 2007 earnings of $1.35 to $1.55 a share. Wall Street analysts are expecting 2006 earnings of 59 cents a share and 2007 earnings of $1.22 a share.
Medarex (NASDAQ:MEDX - News) said Donald Drakeman has resigned from its board and left the president and chief executive officer positions, effective immediately. The Princeton, N.J., biopharmaceutical firm named Irwin Lerner, its chairman, to serve as interim CEO and president as it looks for a permanent replacement. In addition, Medarex said an internal investigation of its historical stock options practices has found the option grants were dated in many instances on dates when the stock price was relatively low but it did not find evidence of fraud or willful misconduct on the part of the company. However, the board has determined that members who received misdated grants, which includes all current directors appointed before 2001, and specified special officers involved in the granting process must repay any gains realized from the grants if the options were exercised and re-price their outstanding stock options as prescribed.
Mercury General (NYSE:MCY - News) reported third-quarter earnings of $68.2 million, or $1.25 a share, down from a year-ago profit of $73 million, or $1.33 a share. Net premiums for the Los Angeles-based insurance firm rose 1.7% to $776.2 million for the quarter. The average estimate of analysts polled by Thomson First Call was for a profit of $1.13 a share in the September period.
Metretek Technologies (AMEX:MEK - News) said its third-quarter net profit rose to $2.9 million, or 17 cents a share, from $0.2 million, or 1 cent a share, a year ago, after all business segments performed well. Sales rose to $33.4 million, from $10.2 million last year. The supplier to the natural gas and electricity industry was expected to post earnings of 8 cents a share, according to consensus estimates supplied by Thomson First Call. The company said that its on track to meet its 2006 financial goals and also said that it expects to report earnings per share of 89 cents in 2007.
Minrad International (AMEX:BUF - News) was initiated with a buy rating at WR Hambrecht.
Nova Measuring Instruments Ltd. (NASDAQ:NVMI - News) reported a third-quarter net loss of $778,000, or 5 cents a share, narrower than its year-earlier loss of $1 million, or 6 cents a share. The Israel-based producer of integrated process-control systems used in the semiconductor manufacturing had nearly 5% more shares outstanding in the latest quarter. Quarterly revenue jumped 40%, reaching $12.5 million from $8.9 million. Nova's gross margin for the latest quarter stood at 41%, compared with 39% a year earlier and 43% for the 2006 second quarter.
Nvidia Corp. (NASDAQ:NVDA - News) said it will buy PortalPlayer Inc. (NASDAQ:PLAY - News) for $357 million in stock to accelerate its offering for chips used in portable music players and other hand-held electronic devices.
OSI Restaurant Partners (NYSE:OSI - News), the operator of the Outback Steakhouse, Carrabba's Italian Grill and Bonefish Grill -- said it has agreed to be taken private by an investor group in a deal valued at $3.2 billion, including debt.
Per-Se Technologies (NASDAQ:PSTI - News) agreed to be acquired by McKesson Corp. (NYSE:MCK - News) for $1.8 billion. The deal values shares of Per-Se at $28 each.
Phazar Corp. (NASDAQ:ANTP - News) said its Antenna Products unit has received a contract worth about $798,617 from the General Services Administration of Fort Worth, Texas. The deal calls for the delivery and installation of remote transmitter/receiver towers and antennas at four sites in the U.S. The deal puts Phazar's backlog at $2.8 million as of Sept. 30.
Pinnacle Entertainment Inc. (NYSE:PNK - News) said third-quarter profit more than quadrupled from the year earlier. The Las Vegas-based casino operator said net income rose to $22.4 million, or 45 cents a share, in the third quarter from $5 million, of 12 cents a share, the year earlier. The results included a gain from an asset sale in the latest quarter and income tax benefits the year earlier. Income from continuing operations rose to 25 cents a share compared with a loss of 9 cents. Revenue rose to $236.7 million from $174.4 million. Analysts polled by Thomson First Call on average expected earnings of 32 cents a share, on revenue of $234.4 million.
Regeneron Pharmaceuticals (NASDAQ:REGN - News) posted a loss of $27.4 million, or 48 cents a share, for the third quarter, narrower than its year-ago loss of $34.7 million, or 62 cents a share. The company was also initiated with an outperform rating and a $32 price target at Credit Suisse.
Ryanair (NASDAQ:RYAAY - News) conceded that its 1.48 billion euro takeover offer for Irish rival Aer Lingus Group was unlikely to succeed while it reported a 24% improvement in quarterly profit and lifted its outlook for the year.
Swift Transportation (NASDAQ:SWFT - News) shares surged after Jerry Moyes, its largest shareholder and former top executive, offered to buy the company in a deal that values the trucker at $2.17 billion.
Traffic.com (NASDAQ:TRFC - News) agreed to be acquired by Navteq (NYSE:NVT - News) for an equity value of about $179 million. The Chicago provider of digital maps said it's aiming to acquire traffic content along with the technology to deliver it to clients across a range of industries. Navteq said the deal will dilute earnings in 2007 to a range of 11 to 17 cents a share but will boost earnings from 2009. The company is expecting the deal to close in the first quarter.
UAL Corp. (NASDAQ:UAUA - News) said its October traffic rose 2.3% to 9.67 billion revenue passenger miles from 9.45 billion in the same month in 2005. The company's United Airlines unit said capacity, or available seat miles, rose by the same percentage to 11.99 billion from 11.72 billion. That made its load factor for the month unchanged at 80.6%.
Unilever (NYSE:UN - News) was upgraded to neutral at Merrill Lynch.
U.S. Steel (NYSE:X - News) was among a number of metals stocks in rally mode following a bullish call on the steel industry from Banc of America Securities. Other stocks on the move included Nucor (NYSE:NUE - News), Allegheny Technologies (NYSE:ATI - News), Reliance Steel (NYSE:RS - News), and Olympic Steel (NASDAQ:ZEUS - News).
VeriSign (NASDAQ:VRSN - News) was upgraded to overweight from equal-weight at Lehman Bros.
XM Satellite Radio Holdings (NASDAQ:XMSR - News) said its third-quarter loss fell by 36% to $84 million, or 32 cents a share, compared to a loss of $132 million, or 60 cents a share in the year-ago period. Revenue rose 57% to $240.4 million from $153 million. XM ended the third quarter with 7.185 million subscribers, an increase of 43%. Analysts surveyed by Thomson First Call forecast a loss of 46 cents a share and revenue of $235.3 million, on average. XM expects to end the year with total subscribers of 7.7 million to 7.9 million, within its previously announced range.
Decliners
3D Systems Corp. (NASDAQ:TDSC - News) said it plans to restate its unaudited quarterly financial statements for the first and second quarters of fiscal 2006 to reflect errors in recording customer credits and deposits. The company expects the restatement to lead to an increased net loss available to common shareholders for both periods. The Rock Hill, S.C., provider of three dimensional printing and manufacturing products also now expects to report a loss for the third quarter.
Adolor Corp. (NASDAQ:ADLR - News) shares plummeted after the company and partner GlaxoSmithKline (NYSE:GSK - News) received an approvable letter for their new drug application for Entereg, a proposed treatment for post-operative ileus, from the Food and Drug Administration that requests 12-month safety data from an ongoing study. The companies expect to be able to provide the data by the second quarter.
Alesco Financial Inc. (NYSE:AFN - News) launched a public offering of 22 million common shares under the specialty finance real-estate investment trust's existing shelf registration. Philadelphia-based also Alesco expects to grant underwriters an option to purchase up to another 3.3 million shares to cover over-allotments.
American Science and Engineering (NASDAQ:ASEI - News) reported fiscal-second-quarter net earnings of $4.75 million, or 49 cents a share, down from $8.4 million, or 93 cents a share, in the year-ago period. The results for the Billerica, Mass.-based supplier of X-ray inspection and screening systems included 20 cents a share in stock-based compensation expenses. Revenue fell to $29.6 million from $49.1 million. Analysts polled by Thomson First Call had forecast a per-share profit of 63 cents on revenue of $37.2 million.
Arris Group (NASDAQ:ARRS - News) shares fell after the Suwanee, Ga.-based provider of broadband local access networks said it plans to offer $225 million of convertible senior notes due 2026 through a public offering. In addition, Arris said it will grant the underwriters a 30-day option to purchase up to an additional $33.75 million of the notes. The company expects to use the net proceeds from the offering for general corporate purposes.
Cell Therapeutics (NASDAQ:CTIC - News) shares slumped after the company said it's temporarily suspended enrollment in its Pioneer lung cancer clinical trial. The company said it's awaiting follow-up data for recently enrolled patients, and that it agreed to suspend the trial following a recommendation from the Data Safety Monitoring Board to allow maturity of the data and to assess differences in early cycle deaths observed between arms of the study.
Corautus Genetics Inc. (NASDAQ:VEGF - News) said President and Chief Executive Richard Otto and Chief Financial Officer Robert Atwood will no longer work for the company, effective Dec. 31. Both executives will remain on the company's board and serve as part-time consultants.
Home Depot (NYSE:HD - News) was downgraded to reduce from neutral at UBS. The firm made the same call on rival Lowe's (NYSE:LOW - News).
Moldflow Corp. (NASDAQ:MFLO - News) reported fiscal first-quarter net income jumped on flat revenue. For the quarter ended Sept. 30, Moldflow earned $1.7 million, or 14 cents a share, against $30,000, or break-even, in the year-earlier period. Revenue was $15.32 million against $15.28 million. Adjusted profit more than tripled to $2.1 million, or 18 cents a share. The company estimates fiscal 2007 profit of 53 cents to 60 cents a share, or an adjusted 68 cents to 75 cents, as revenue grows 5% to 7%.
Multi-Fineline Electronix (NASDAQ:MFLX - News) reported fiscal fourth-quarter net earnings of $2.19 million, or 9 cents a share, down from $11 million, or 44 cents a share, in the year-ago period. Revenue dipped to $110.3 million from $110.9 million. Analysts polled by Thomson First Call had forecast a per-share profit of 28 cents on revenue of $128.7 million. The company also said that its technology development and manufacturing agreements with Mobility Electronics Inc. will end this month.
Myers Industries (NYSE:MYE - News) reported third-quarter earnings from continuing operations of $4.2 million, or 12 cents a share, edging higher from a year-ago equivalent total of $4.1 million, or 12 cents a share. The Akron, Ohio-based maker of polymer products said it doesn't plan to hold a conference call to discuss the results.
NAPCO Security Systems (NASDAQ:NSSC - News) reported fiscal first-quarter earnings of $952,000, or 5 cents a share, up from a year-ago profit of $815,000, or 4 cents a share.
Overstock.com Inc. (NASDAQ:OSTK - News) reported a third-quarter loss of $24.5 million, or $1.19 per share, wider than a year-ago loss of $12.4 million, or 66 cents a share. Revenue fell 6% in the latest three months to $158.7 million from $169.3 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a loss of 82 cents a share on revenue of $185 million in the September period. Looking ahead, the Salt Lake City online closeout retailer said it expects to end the year with an inventory balance under $50 million and that, depending on how the next few quarters play out, "we may or may not have a need to raise cash in 2007."
Palm Inc. (NASDAQ:PALM - News) shares fell after NTP Inc. said its has filed a patent infringement lawsuit against the company. Richmond, Va.-based NTP said its complaint relates to Palm products that are primarily used in "electronic mail systems with radio frequency communications to mobile processors and related services, and methods." The complaint also seeks the recovery of monetary damages.
TXU Corp. (NYSE:TXU - News) backed its outlook for operational earnings of $5.50 to $5.75 per share for 2006 and said it expects operational earnings of $5.25 to $5.55 per share for 2007. The current average estimates of analysts polled by Thomson First Call are for earnings of $5.62 a share in 2006 and $5.49 a share in 2007. The Dallas-based energy provider also said its board has extended authorization for the remaining 3.4 million common shares left under its 2006 buyback program and that it's approved plans to repurchase up to an additional 20 million common shares in 2007. The board also approved a 5% boost in the company's quarterly dividend to 43.25 cents a share.
Wild Oats Markets (NASDAQ:OATS - News) tumbled after Citigroup cut its rating on the natural foods grocer to hold from buy, citing valuation and possible disruption from management
http://biz.yahoo.com/cbsm/061106/0d62ef765122453893e6a162733daa38.html
7:02AM Rural/Metro announces new 911 contract to provide Ambulance Service in Spring Hill, Tennessee (RURL) 8.82 : Co announces it has entered into a new contract with TriStar Health System to provide 911 ambulance services in Spring Hill, Tennessee. The three-year agreement began November 1, 2006 and was negotiated as part of an arrangement between the City of Spring Hill and TriStar to provide emergency ambulances within the city. The agreement includes a one-year optional renewal term, for a total possible length of four years.
Sarbanes-Oxley Act Of 2002 - SOX
An act passed by U.S. Congress to protect investors from the possibility of fraudulent accounting activities by corporations.
The rules and enforcement policies outlined by the SOX Act amend or supplement existing legislation dealing with security regulations. The basic outline is as follows:
1. Establishment of a Public Company Accounting Oversight Board, where public companies must now be registered.
2. Strict auditor regulation and control by means of auditing committees and inspecting accounting firms.
3. Heightened corporate responsibility for any fraudulent actions taken.
4. Stricter disclosure within company financial statements, and ethical guidelines to which senior financial officers must adhere.
5. Guidelines for analyst conflicts of interest.
6. Authorities available to the Commission and the Federal Court, as well as required broker and dealer qualifications.
7. Enforcement methods available for punishment of activities deemed criminal by the Act.
Pro Forma defined:
A Latin term meaning "for the sake of form". In the investing world, it describes a method of calculating financial results in order to emphasize either current or projected figures.
Pro forma financial statements could be designed to reflect a proposed change, such as a merger or acquisition, or to emphasize certain figures when a company issues an earnings announcement to the public.
Investors should heed caution when reading a company's pro-forma financial statements, as the figures may not comply with generally accepted accounting principles (GAAP). In some cases, the pro-forma figures may differ greatly from the those derived from GAAP.
http://www.investopedia.com/terms/p/proforma.asp
Generally Accepted Accounting Principles - GAAP
The common set of accounting principles, standards and procedures that companies use to compile their financial statements. GAAP are a combination of authoritative standards (set by policy boards) and simply the commonly accepted ways of recording and reporting accounting information.
GAAP are imposed on companies so that investors have a minimum level of consistency in the financial statements they use when analyzing companies for investment purposes. GAAP cover such things as revenue recognition, balance sheet item classification and outstanding share measurements. Companies are expected to follow GAAP rules when reporting their financial data via financial statements. If a financial statement is not prepared using GAAP principles, be very wary!
That said, keep in mind that GAAP is only a set of standards. There is plenty of room within GAAP for unscrupulous accountants to distort figures. So, even when a company uses GAAP, you still need to scrutinize its financial statements.
http://www.investopedia.com/terms/g/gaap.asp
Negative Goodwill defined:
gain occurring when the price paid for an acquisition is less than the fair value of its net assets.
Depending on the circumstances, this is listed as a separate line item and usually recognized as income. Negative goodwill can sometimes occur after a distressed sale. Because this type of sale almost always happens under unfavorable conditions, the seller generally receives a worse price. When the price received is less than the actual value of its net assets you have negative goodwill.
http://www.investopedia.com/terms/n/negativegoodwill.asp
Goodwill defined:
An account that can be found in the assets portion of a company's balance sheet. Goodwill can often arise when one company is purchased by another company. In an acquisition, the amount paid for the company over book value usually accounts for the target firm's intangible assets.
Goodwill is seen as an intangible asset on the balance sheet because it is not a physical asset such as buildings and equipment. Goodwill typically reflects the value of intangible assets such as a strong brand name, good customer relations, good employee relations and any patents or proprietary technology.
http://www.investopedia.com/terms/g/goodwill.asp
New stock to watch: GEHL
GEHL
Gehl Company
Alert Price: $27.61
November 4, 2006
InfinitiStocks.com issues an Insider Accumulation Alert for Gehl Company (NASDAQ GSM: GEHL), a worldwide distributor and manufacturer of compact construction equipment. On November 2, 10% owner Manitou BF S.A. purchased $1,215,446 (44,445 shares) of GEHL on the open market at $27.35 per share.
Gehl third-quarter financials released October 30 show net income climbed 65% to $8.3 million ($0.67/share), from $5.1 million ($0.47/share) a year ago, beating analyst views by $0.12. Despite a slowdown in the U.S. housing market that caused a drop in earnings for heavy equipment makers ASVI and BLT, Gehl reiterated its full year 2006 outlook, citing solid fundamentals in its global markets. Gehl expects 2006 EPS from continuing operations of $2.20 - 2.30, versus FY 2005 EPS of $1.97.
BMO Capital Markets analyst Charles Brady, who has an outperform rating on the stock, told Reuters, "The slowdown in the U.S. housing market is not having a material impact on Gehl's top line, as less than 25% of revenues are derived from the housing market." Brady also said the robust activity in commercial construction further offsets the housing slowdown.
Gehl fundamentals show reductions in manufacturing costs improved gross margin to 21.8% up from 20.6% a year ago. Current ROE is 13.0%. Compared to a forward P/E of 10.58 (versus trailing P/E of 16.68), we believe Gehl is attractively undervalued at this time. Fidelity Star Analysts estimate an annual EPS growth rate of 13.0%. InfinitiStocks further notes a recent 7% drop in short interest, to 9.15%. We feel that signs of recent covering against the large short position increase the potential to move share prices higher in coming weeks.
Sources: Fidelity, Thomson, Reuters
CHINA: China.com Launches US$20 Million Web 2.0 Developer Program in China
Friday November 3, 7:54 am ET
BEIJING, Nov. 3 /Xinhua-PRNewswire-FirstCall/ -- China.com, a leading internet services provider in China and a Hong Kong listed subsidiary of CDC Corporation (Nasdaq: CHINA), today announced its Web 2.0 Developer Program, which includes US$20 million allocated for investment in selected web development partners. China.com will seek to establish strategic relationships with leading local Web 2.0 companies to accelerate the development of innovative products and services targeted specifically for the China market.
China.com will select small to medium size developers with the technological skill, innovative vision and deep understanding of what drives the Chinese Internet community to develop the next generation of products and services in online video, social networking, blogs, 3G and broadband content and mobile search.
Through direct cash investments, equity investments, lines of credit or a combination of these, China.com will invest up to US$20 million in selected Web 2.0 development partners. China.com will also leverage its deep relationships with advertisers and broad knowledge of the market as one of the first Internet companies in China to provide marketing, advertising and sales support to its partners for their products and services. As part of the strategic partnership, China.com's development partners will also be able to leverage the extensive market coverage of the CDC family of companies including millions of growing subscribers of CDC Mobile and China.com and 37 million registered users of CDC Games.
"We are very excited at the potential for Web 2.0 in China and our goal is to be one of the leaders of this vast emerging market," said Dr. Xiaowei Chen, Chief Financial Officer of China.com. "We believe that with our strong financial resources, deep partnership with technology leaders like Google and Microsoft and broad understanding of Chinese Netizens, we are well placed to help our Web 2.0 development partners fully monetize their products and services. We feel that this program will bring as much benefit to China's Web 2.0 development community as the CDC Games' online game developer program and CDC Software's franchise partner program have brought to the online gaming and enterprise software communities. We have been in negotiations with a number of top Web 2.0 developers in China and hope to finalize investments in several companies in the next few quarters."
About China.com Inc.
China.com Inc. (stock code: 8006; website: www.inc.china.com), a leading Mobile Value Added Services (MVAS), and Internet services company operating principally in China, and a subsidiary of CDC Corporation (Nasdaq: CHINA; website: www.cdccorporation.net), was listed on the GEM of the Stock Exchange of Hong Kong Limited on March 9, 2000. In December 2000, China.com Inc. was admitted as a constituent stock of the Hang Seng IT and IT Portfolio Indices.
About CDC Corporation
The CDC family of companies includes CDC Software focused on enterprise software applications and services, CDC Mobile focused on mobile applications, CDC Games focused on online games, and China.com focused on portals for the greater China markets. For more information about CDC Corporation (Nasdaq: CHINA), please visit www.cdccorporation.net.
About CDC Software
CDC Software, The Customer-Driven Company(TM), is a provider of comprehensive enterprise software applications and services designed to help businesses thrive and become customer-driven market leaders. The company's industry-specific solutions are used by more than 5,000 customers worldwide within the manufacturing, financial services, health care, home building, real estate, and wholesale and retail distribution industries. CDC Software's product suite includes Pivotal CRM (customer relationship management), c360 CRM add-on products, industry solutions and development tools for the Microsoft Dynamics CRM platform, Ross ERP (enterprise resource planning) and SCM (supply chain management), IMI warehouse management and order management, Platinum China HR (human resource) and business analytics solutions. CDC Software is ranked number 18 on the Manufacturing Business Technology 2006 Global 100 List of Enterprise and Supply Chain Management Application vendors. For more information, please visit www.cdcsoftware.com.
About CDC Games
CDC Games Limited is focused on building a diversified mix of online game assets and strategic alliances and is a business unit of CDC Corporation. CDC Games is one of the market leaders of online games in China with over 37 million registered users.
About CDC Mobile
CDC Mobile is focused on providing MVAS products to subscribers in China and is a business unit of CDC Corporation.
Cautionary Note Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements to the development of China.com Web 2.0 Developer Program, future opportunities with development partners, ability to help development partners build new Web 2.0 products and services through investment, future acquisitions, future development of Web 2.0 market in China and the ability of the development partners to build successful Web 2.0 products and services l. These statements are based on management's current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, including the following: the ability to make investments in development partners, the ability of development partners to utilize any investment to build Web 2.0 products and services for the China market, the ability to make changes in business strategy, development plans and product offerings; the development of the Web 2.0 market in China and regulatory developments in China. Further information on risks or other factors that could cause results to differ is detailed in filings or submissions with the United States Securities and Exchange Commission made by CDC Corporation in its Annual Report for the year ended December 31, 2005 on Form 20-F filed on June 21, 2006. All forward-looking statements included in this press release are based upon information available to management as of the date of the press release, and you are cautioned not to place undue reliance on any forward looking statements which speak only as of the date of this press release. The company assumes no obligation to update or alter the forward looking statements whether as a result of new information, future events or otherwise.
Investor Relations Media Relations
Monish Bahl Jenny Hui
CDC Corporation China.com Inc
678-259 8510 8610-85184499 ext. 662
monishbahl@cdcsoftware.com huying@np.china.com
http://biz.yahoo.com/prnews/061103/lnf002.html?.v=43
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Source: China.com Inc.
10 Top-Rated Stocks With Low P-E Ratios
http://biz.yahoo.com/special/pe103006_article1.html
The price-to-earnings ratio is perhaps the most common valuation tool used by investors, but it can be misused. For example, some investors think they’re getting a great value simply because a stock has a low P-E ratio. Often times, however, a low P-E is due to deteriorating fundamentals. The stocks on this week’s list have a potent combination of low valuations and healthy fundamentals. More...
1. Morgan Stanley (MS) - View IBD Stock Checkup
Composite Rating 99*. One of four investment bankers on this week’s list, the company has delivered revenue growth between 50% and 60% in the last four quarters. Trailing P-E: 12, Forward P-E: 11.
2. American Capital Strategies (ACAS) - View IBD Stock Checkup
Composite Rating 99. The $6 billion market-cap firm, tracked in the Finance-Investment Mgmt group, has a three-year EPS growth rate of 66%. It’s scheduled to report Q3 results on Oct. 31. Trailing P-E: 8, Forward P-E: 13.
3. Goldman Sachs (GS) - View IBD Stock Checkup
Composite Rating 99. Annual earnings at the $80 billion market-cap firm are expected to jump 57% in 2006 to $17.65 a share. Trailing P-E: 11, Forward P-E: 11.
4. Copa Holdings (CPA) - View IBD Stock Checkup
Composite Rating 99. The Panama-based airline is up 37% year-to-date compared to a 10% gain for the Transportation-Airline group. Trailing P-E: 15, Forward P-E: 13.
5. First Marblehead (FMD) - View IBD Stock Checkup
Composite Rating 99. Last week, the education finance company reversed a year-ago loss with profit of $2.23 a share. Revenue surged 761% to $301.8 million. Trailing P-E: 12, Forward P-E: 15.
6. Merrill Lynch (MER) - View IBD Stock Checkup
Composite Rating 98. Earlier this month, the New York-based investment bank handily beat estimates with a 43% rise in Q3 profit. Sales jumped 40% to $17.38 billion. Trailing P-E: 13, Forward P-E: 12.
7. Lehman Bros. (LEH) - View IBD Stock Checkup
Composite Rating 98. The company’s Fundamental Rating of 98 (A+) from Stock Checkup is fueled by a three-year EPS growth rate of 28% and a three-year sales growth rate of 38%. Trailing P-E: 12, Forward P-E: 11.
8. Cummins (CMI) - View IBD Stock Checkup
Composite Rating 98. Earlier this month, the maker of diesel engines signed an accord with China-based Foton Motor to make engines in China. Trailing P-E: 11, Forward P-E: 9.
9. Qiao Xing Universal Telephone (XING) - View IBD Stock Checkup
Composite Rating 98. Annual return on equity at the China-based maker of wireless handsets and accessories hit a multi-year high of 25% in 2005. Trailing P-E: 11, Forward P-E: 10.
10. Steel Dynamics (STLD) - View IBD Stock Checkup
Composite Rating 98. Earlier this month, the company reported a 131% surge in Q3 profit. Sales jumped 83% to $911.9 million. Trailing P-E: 9, Forward P-E: 8.
i think i told you about noyes. would that help you?
who will be the existing company?
you are right about that...
we could do great stuff here and there.
well, they are supposed to be merging with a private company. I think its a good fit, and should bring the pps to around 1.70ish by my calculations, FWIW.
I've tried to buy more, but Scottrade has resricted the stock to call in only, and being about 8000 miles away, with limiited commercial phones, makes that kinda tough for me, lol.
me again, hmmmm.have to check'em out.
AATK
Hello Mick- ready for the fall blitz in the market <bg>. Once the elections are over, I think real money will start playing again.
AATK had their meeting last Friday- so will see what turned out
Mick, this board has a ton of treasures in it. Thanks.
hi tim, good morning to ya. back doing some after long summer of health stuff. doing better now.
hi lady i had to give ya a tooter here. i'll mark ya.
Don't Over-Invest in Company Stock
Sunday October 29, 7:29 pm ET
By Jilian Mincer, Dow Jones Newswires
NEW YORK (AP) -- The testimony of former Enron employees at the sentencing of ex-CEO Jeffrey Skilling this week is a stark reminder not to invest too much in your company's stock.
Thousands of workers believed in Enron, acquired the energy company's stock and lost everything. Even if a business doesn't go through bankruptcy like Enron, workers with too much company stock expose themselves to unnecessary risk.
"It's a very significant problem," said Pamela Hess, director of retirement research at Hewitt Associates, a human resources consulting firm. "The upside benefit isn't worth the downside risk."
The number of plan sponsors offering company stock as an investment option in a 401(k) plan dropped to 8 percent in 2005 from 24 percent in 1999, according to a 2006 report by Hewitt. However, three quarters of the larger plans offer company stock, and when available, company stock accounts for more than 37 percent of employees' 401(k) assets.
Hewitt also found that the longer the employee's tenure, the higher the concentration of company stock. A quarter of participants with 30 or more years of tenure had invested half or more of their 401(k) balances in company stock, according to Hewitt.
That's risky. Not only can companies go into bankruptcy, but the stock could also deteriorate slowly, or simply stagnate while other investments continue to gain.
"The company has risks on two counts," said Stephen P. Utkus, principal at the Vanguard Center for Retirement Research. "It could go bankrupt, but it also could massively underperform for years."
Employees often resist diversifying out of company stock from a sense of loyalty.
Many Ford Motor Co. employees invested heavily in the 1990s when the company stock was performing well. At the end of 2005, the Ford 401(k) plan had $11.79 billion in assets, of which 22.5 percent was in company stock, said David Kudla, chief executive at Mainstay Capital Management LLC of Grand Blanc, Mich., which provides investment advice to hundreds of workers in the plan.
But the return on Ford stock including dividends was a negative 11.02 percent, annualized, over the five years ending Sept. 30, according to Morningstar. Most mutual funds did far better. Consider that Ford recently announced it would pull the Fidelity Magellan Fund from its 401(k) plan. The fund had an average annualized rate of return over the last five years of 4.34 percent, and 8.98 percent for the last three years -- underperforming the Standard & Poor's 500 Index, but outperforming Ford stock.
Diversification is a key financial principle. Stuart Ritter, a financial adviser with mutual-fund manager T. Rowe Price Group Inc., said, "We tell people to have no more than 5 percent to 10 percent in any single security. And if you have stock in your company, that should be at the lower end of the range."
He said investors forget that by "buying that much in one stock, you're taking on a lot more risk without getting more reward for it."
While employees frequently amass large amounts of company stock by choice, they also may get it when the company matches 401(k) contributions with company stock. Workers incorrectly assume that company stock is less risky.
"They feel that if there's one stock they know, it's their company stock," said Kudla of Mainstay. "Employees think they have a feel for where the company is going."
But as the Enron collapse shows, many don't. In 2001, almost 60 percent of Enron's 401(k) plan assets were in company stock. At its peak, the stock traded at $90 a share. The bust wiped out thousands of jobs, billions of dollars in pension plans and all Enron's common stock, which is no longer traded.
Litigation over falling company stock is becoming more widespread, said Robyn Credico, national director of defined contribution consulting for Watson Wyatt. As a result, some businesses are eager to educate workers about diversification.
Many companies, Credico said, are even limiting the amount employees could invest in company stock. They're also offering managed account options, which though more expensive than company stock, which doesn't incur management fees, automatically reallocate 401(k) investments.
http://biz.yahoo.com/ap/061029/managing_money_company_stock.html?.v=1
RICK up to $8.22 afterhours Friday. Took only 6 months to double your money on this Nasdaq pick. It will continue thru next year,
with great numbers, a solid plan, imho.
TEAM FA PICK - #11 /02-2006/ $4.61 / RICK Rick
CHINA. Three words. Solid. Solid. Solid. IMHO
eggscellent !!!!!!!!!
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