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Oshkosh's Enticing Valuation Also Offers A Potentially Lucrative Merger Kicker
by: Morningstar February 12, 2012
We've concluded that Oshkosh (OSK) could be worth between $43 and $46 per share if activist investor Carl Icahn--who owns nearly 10% of both companies' outstanding shares--succeeds in persuading Navistar (NAV) to acquire the specialty vehicle manufacturer. We think Navistar could offer an acquisition premium of between $8 and $11 per share (or between 35% and 45%) above Oshkosh's current market price for the incremental synergies. We see three major categories where Navistar could extract value: manufacturing synergies, truck chassis synergies, and engine synergies.
Cuts will be coming but the key is where they will be made and which programs will be cut.
I also expect congress to restore some of the cuts to defense.
OSK is heading back up nicely. Makes me happy :)
I wish there was some way to turn hindsight into foresight.
Considering who it is.... Yes
I don't think a miracle on that scale has occurred since the parting of the Red Sea.
lol - Waiting for HRCT to do something makes waiting for grass to grow look like an excitement filled activity.
Good point
Just checking in to see who is still alive after all these years.
Yep. ROK doing well and I received a great pair of bear paw slippers for Christmas.... I am very cool and the neighbors are jealous. :)
Industrial automation products and services provider Rockwell Automation (NYSE: ROK - News) posted a rocking quarter yet again. The company saw double-digit revenue growth for the fifth consecutive quarter, generating strong revenue figures across all geographical regions. Shares of the company reflected this robust performance, gaining 33% in its fourth quarter.
CVR Partners (UAN).
CVR Partners was derived as a partnership from CVR Energy Inc. which spun off the company to operate the fertilizer side of the business. CVR should be a perfect fit into the portfolio as it has many positive catalysts. The company is the only fertilizer producer in North America that uses a special petroleum coke process to make its product. What a coincidence that the coke happens to come from a refinery which is owned and operated by none other than CVR Energy, the parent company. Needless to say, this coke will be readily available from the parent and also tends to be much less expensive and much more stable in price when compared to natural gas, which other competitors have to use. Also CVR is located much closer to customers so it will enjoy a transportation cost advantage when compared to other companies. The company is also in the midst of an expansion project which is expected to be completed in the first quarter of 2013. This expansion should increase production by a substantial amount. Early on, CVR committed to have distributions of $1.92 for the first year and if so that will be a 9.1% yield.
The unique advantage
CVR is located in the U.S. Corn Belt, which increases proximity to Union Pacific's main line. Because of this, CVR enjoys a transportation cost advantage of approximately $25 per ton over competitors located in the U.S. Gulf Coast.
Note the interesting connection here. Corn requires a lot of nutrients, and it touched its highest price levels this year. This naturally encourages farmers to grow more corn, which means higher demand for CVR's products. CVR has a double advantage here, as it also saves a lot on transportation costs to the Corn Belt because of proximity.
Current dividend yield for UAN is 9.7%
They set a price target of $8.... I would be happy with that.
A bird in the hand......
Natural gas prices are expected to rise so it is hard to tell where this might go.
FX Energy Spuds Kutno-2 Well
Updates Plawce-2 and Alberta Bakken Operations
Press Release Source: FX Energy, Inc. On Monday August 29, 2011, 7:00 am EDT
SALT LAKE CITY, Aug. 29, 2011 /PRNewswire/ -- FX Energy, Inc. (NASDAQ:FXEN - News) today announced the start of drilling on the Kutno-2 well in the Company's 700,000 acre Kutno concession. The Kutno-2 well is planned to test a large (approximately 35,000 acres or 140 square kilometers) 2-D defined Rotliegend structure at a depth of approximately 6,500 meters (21,000 feet).
"FX Energy is pleased to be joined in this project by PGNiG, the most experienced explorer in Poland," said David Pierce, the Company's CEO. "Given that Poland currently imports approximately one-third of a Tcf of gas annually, and the Kutno prospect could have an EUR of up to 9.5 Tcf, both companies recognize that this project has the potential to change the energy balance in the entire region."
The current rig will be used to drill the first sections of the well prior to moving Nafta Pila's larger IDM 2000 rig with 500 ton load capacity onto location for the bottom sections of the well. Drilling is expected to take approximately eight to nine months. FX Energy is the operator and will be 50% owner of the Kutno concession; PGNiG will earn 50%.
Plawce-2
The Plawce-2 tight gas well reached total depth of 4,200 meters. Gas shows were encountered as expected throughout the Rotliegend sandstone reservoir. Cores and logs are currently being analyzed. Based upon the results of this analysis, the well is expected to be perforated at the deepest part of the well to determine whether the entire Rotliegend reservoir is water-free. Thereafter, current plans call for perforating and fraccing approximately 50 meters of Rotliegend in the upper portion of the well where porosity is approximately 9-10%. After testing, the well is expected to be completed as a vertical producer.
The Plawce-2 well is located on an uplifted tight Rotliegend block that could contain as much as 500 Bcf of gas in place within the Fences concession. The Company holds a non-operating 49% interest in the Fences concession and the Plawce-2 well; PGNiG operates and holds 51% interest.
U.S. Alberta Bakken
In Montana, FX Energy is in the early stages of appraising the Alberta Bakken oil potential in approximately 75,000 net acres. The Company has drilled and fracced a vertical well in its Cutbank acreage and is currently monitoring the flow back. The Company has drilled a second vertical well in another of its acreage blocks and plans to frac the vertical section. In three to four weeks the Company plans to drill a lateral section of approximately 4,000 feet at this location. Two further wells are planned in the fourth quarter, one vertical and one with a lateral section, assuming results of the Company's first two wells meet technical expectations. FX Energy is operator and holds a one-third working interest in approximately 75,000 net acres; American Eagle Energy, Inc., and Big Sky Operating, LLC, each own a one-third working interest.
Good thing we aren't watching "ER" since everyone knows what a "flat line" is in medical terms....
It means nothing......
Not a lot of fun. I think I will go on vacation and pretend it isn't happening.
Yes..... but as they say..... a buying opportunity - lol
I did the same thing about 2 months ago and Admin slapped my hand and told me not to do it anymore. Apparently Motley Fool is kind of touchy about their copyright protection.
That said, the info you posted is interesting.
Just being the highest yeilding trust doesn't necessarily make it the best investment. Look into all the factors before deciding which one will make the best investment for you.
Motley Fool complains to InvestorsHub admin when you post their articles without permission. You are only allowed to post the link to the article along with any comments you might want to make.
It is showing the grandfather logo next to your name......
Rockwell Automation Expects to Boost Asia Sales 30% on China
By Jasmine Wang - Aug 1, 2011
Rockwell Automation Inc. (ROK), the largest standalone maker of industrial-automation systems in the U.S., expects to boost Asia-Pacific sales 30 percent this fiscal year helped by demand in China and acquisitions.
Regional sales in the quarter ending September will likely rise about 30 percent, matching the pace in the first three quarters of the fiscal year, Robert Ruff, the company’s Asia- Pacific president, said in an interview in Hong Kong yesterday. The region accounted for about 15 percent of the Milwaukee-based company’s sales last fiscal year.
Rockwell plans to continue expanding in China with “high velocity” and it’s considering acquisitions in Asia, Ruff said, as rising wages and economic growth spur demand for automation products. The company competes with the likes of Siemens AG (SIE) and ABB Ltd. (ABB) and supplies clients ranging from automakers to oil producers.
Rockwell has “a funnel of potential acquisitions across Asia,” Ruff said. He didn’t name any possible targets.
The company in 2009 completed the takeover of closely held Xi’An Hengsheng Science & Technology Co. The deal boosted access to Chinese utilities companies and expanded Rockwell’s pool of engineers with local expertise, Ruff said.
Rockwell has about 1,800 employees including engineers and sales representatives in the China, which accounts for about 50 percent of its business in the region, he said.
Yes.... hindsight is always 20/20
Even with the new orders, the long range prospects for OSK seem to be a bit dim. Defense cuts are likely to affect the bottom line for some time to come and the civilian side of things are going to take a while to recover. Cities don't have a lot of cash to be buying fire and garbage trucks in large quanities even though they will have to replace a number of them as they wear out beyond the ability to keep nursing them old ones along.
Oshkosh Defense to Deliver Nearly 7,000 Additional FMTV Trucks and Trailers to the U.S. Army
U.S. Army and Oshkosh collaborate to accelerate production and reach new levels of quality
Oshkosh has delivery orders for nearly 26,000 FMTV trucks and trailers (Photo: Business Wire) View Multimedia Gallery
Press Release Source: Oshkosh Corporation On Monday August 1, 2011, 8:00 am EDT
OSHKOSH, Wis.--(BUSINESS WIRE)-- Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK - News), will deliver nearly 7,000 additional Family of Medium Tactical Vehicles (FMTV) trucks and trailers to the U.S. Army following an order from the U.S. Army TACOM Life Cycle Management Command (LCMC). Oshkosh has now received orders for nearly 26,000 FMTV trucks and trailers, and is delivering vehicles to meet the Army’s delivery schedule.
“We continue to support the Army on this successful program with the on-time delivery of very high-quality, Oshkosh-built FMTV trucks and trailers,” said Mike Ivy, vice president and general manager of Army Programs for Oshkosh Defense. “Our robust manufacturing capabilities, combined with the exceptional value Oshkosh brings to this program as a specialty vehicle manufacturer, prompted the Army to order more vehicles at an earlier point in the program than they had anticipated before the award to Oshkosh.”
The FMTV supports Army and National Guard units at home and abroad in combat operations, relief efforts, unit-resupply missions and other functions. The FMTV is a series of 17 models ranging from 2.5-ton to 10-ton payloads. Vehicles have a parts commonality of more than 80 percent, resulting in streamlined maintenance, training, sustainment and overall cost efficiency.
Oshkosh has more than 90 years of experience mobilizing the U.S. military, and the company is the only supplier of the Army’s medium and heavy tactical wheeled vehicle fleets. Oshkosh incorporated its rigorous quality checks and production standards into its work on the FMTV program to ensure delivery of high-quality trucks and trailers.
This is the latest order under the five-year FMTV contract awarded to Oshkosh Defense for the production of trucks and trailers, as well as support services and training, through calendar year 2015. The order is valued at more than $904 million and deliveries are scheduled to be completed in June 2013.
Rockwell Automation churns out strong 3Q results
Rockwell Automation's 3Q earnings rise 50 pct, boosted by weaker dollar, stronger economy
On Thursday July 28, 2011, 6:04 pm EDT
MILWAUKEE (AP) -- Rockwell Automation Inc.'s quarterly earnings climbed 50 percent as a stronger economy and weaker dollar propelled the supplier of industrial machinery and software.
The company said Thursday that it earned $179.5 million, or $1.23 per share, in its fiscal third quarter ended in June. That compared with net income of $119.4 million, or 83 cents per share, at the same time last year.
Revenue rose to $1.52 billion, a 20 percent increase from $1.27 billion at the same time last year.
Analysts, on average, had projected the company would earn $1.19 per share on revenue of $1.48 billion, according to FactSet.
Rockwell received a $72 million lift from favorable currency exchanges created by the weaker dollar. The company, which is based in Milwaukee, sells its products in more than 80 countries. More than half of its revenue comes from outside the U.S.
If currency rates had been unchanged from a year ago, Rockwell's revenue would have risen by 14 percent in the latest quarter.
The company is also benefiting from a gradually recovering economy that is unleashing pent-up demand among its customers. "We are on track for an excellent year," said Rockwell CEO Keith Nosbusch.
In a show of its confidence, Rockwell raised its guidance for its full fiscal-year results to earnings per share of $4.55 to $4.65 on revenue of $5.9 billion. The average analyst estimate had called for earnings of $4.59 per share on revenue of $5.8 billion.
Don't forget houseboater. I wish I had bailed when he did. It had to drop a couple more dollars before I cashed out.
So who got my $2?
Worm poop does it every time.
That was a sidebar from this month's Discover magazine.
This spring the Chili Factory in Australia announced a hot new product sauce made from the spiciest chili in the world. The Trinidad Scorpion Butch T registers 1,463,700 Scoville heat units, nearly 300 times as hot as the hottest jalapeno.
The pepper is so brutal that owners Marcel and Alex de Wit wear protective suits to guard against fumes while cooking their brew, called Scorpion Strike.
Butch T is genetically primed to produce extraordinary levels of the heat inducing chemical capsaicin, but only under perfect conditions. Horticultural expert Mark Peacock's technique calls for a fertilizer blend of worm excrement to boost protective bacteria around the plant's roots and crushed insects to stimulate natural defense mechanisms.
On sampling the fruits of his labor, Peacock says, "Its the worst pain I have ever felt."
What astounds me is that it isn't $.0001
Rockwell Automation raises dividend by 21 percent
Rockwell Automation sets quarterly dividend at 42.5 cents per share, up 21 percent
On Thursday June 2, 2011, 6:33 pm EDT
MILWAUKEE (AP) -- Rockwell Automation Inc., which makes industrial power and motion control products for the food and beverage, transportation and energy industries, said Thursday that it has raised its quarterly dividend by 21 percent to 42.5 cents per share, for an annual payout of $1.70.
The company cited its solid financial position and confidence in its prospects for continued strong cash flow. The next quarterly dividend will be paid Sept. 12 to shareholders as of Aug. 15.
Leucadia National (LUK) is an investment company that has among its holdings 28% ownership in the investment bank Jefferies Group, 18% of Inmet Mining, 50% of Berkadia (a commercial mortgage servicer and loan originator owned 50/50 with Berkshire Hathaway), Conwed Plastics, Idaho Timber and other companies. Leucadia's [price/earnings/growth] is an extremely low 0.09, based on the average of the three-, four- and five-year historical EPS growth rates. This is a result of the company's low P/E and high growth rate. In addition, [the company's debt level] is perfectly fine.
Does HRCT actually exist (other than as a ticker symbol) anymore. Any offices? Employees? Web Site? Officers?
10 cents a post will make you more money than is possible with the penny scams but I wouldn't try to live on it....
Rockwell Slides After Operating Profit Trails Estimates
By Natalie Doss - Apr 27, 2011
Rockwell Automation Inc. (ROK), the Milwaukee-based maker of factory-automation software, fell the most since February 2009 after quarterly operating profit trailed analysts’ estimates.
The company posted operating income of about $220 million in the three months through March, trailing the average estimate of $223 million from six analysts in a Bloomberg survey. Deutsche Bank AG had estimated operating income of $224 million, Nigel Coe, a New York-based analyst, said today in a note to clients.
The company’s “essentially unchanged guidance of $4.40 to $4.60, tightened by 10 cents at the low end, will likely be perceived as a major negative,” Coe said. “We don’t think that management is being that conservative since the company has earned $2.17 in the first half, meaning that we have yet to cover 50 percent of fiscal-year guidance at the low end.”
Rockwell dropped $8.56, or 8.8 percent, to $89.28 at 1:12 p.m. in New York Stock Exchange composite trading. The shares earlier fell as much as 12 percent, the largest intraday decline since February 2009.
Net income in the company’s fiscal second quarter climbed 21 percent to $166.4 million, or $1.14 a share, from $137 million, or 95 cents, a year earlier, Rockwell said today in a statement. Sales gained 26 percent to $1.46 billion.
Revenue growth “was very strong,” Chief Executive Officer Keith Nosbusch said in a telephone interview. “We saw strong growth in Latin America, strong growth in Europe, Middle East and Africa and strong growth” at original equipment manufacturers.
Asia Growth
Rockwell said Asia-Pacific sales advanced 22 percent, excluding currency effects. That was slower than 26 percent growth, on a comparable basis, in the previous quarter.
Asia is “a disappointment in the context of a bull case that relies on China growth as a driver,” C. Stephen Tusa, a New York-based analyst with JPMorgan & Co. said in a note to clients. He has a “neutral” rating on the stock.
The growth rates in Asia in the past two quarters, and in China in the second quarter, “are all growth rates above the market growth rate, the underlying growth rate, so I’m not sure what everyone else was expecting, but it certainly met our expectations,” Nosbusch said.
Rockwell shares climbed 36 percent this year before today, a climb that Julian Mitchell, a Credit Suisse analyst in New York, said was helped partly by strong earnings reports from the company’s peers.