Biotech Values

[oldberkeley]

>[OT] Cemex Paves a Global Road to Solid Growth<

When the entire housing sector bottoms-out for real this will be a good one, but it's still too early IMO.

BusinessWeek.com
Tues., March. 18, 2008

http://www.msnbc.msn.com/id/23690635/

CREDIT SUISSE DOWNGRADES CEMEX TO NEUTRAL FROM OUTPERFORMOn Friday, Cemex, S.A.B. [] forecast first quarter operating income down 25% from year ago. Credit Suisse analyst Marcelo Telles says his downgrade follows the company's weaker-than-expected guidance. Telles sees significant deterioration across Cemex's markets, i.e., U.S. and Spain; and Mexico, which was supposed to counterbalance the U.S. slowdown, has shown significant sign of weakness, which in his view may not be explained just by lower investment in infrastructure. He believes the decline in volumes expected to be seen in the first quarter is leading Cemex to rely considerably on strong recovery in the second half of 2008, but the likelihood of this materializing remains highly uncertain at this point. He notes that rising energy costs should continue to put pressure on margins.