Replies to post #328807 on $Stock*Shop*Charts*News*Option$

[Stock Lobster]

WSJ: Whirlpool Net More Than Doubles on Higher Sales

JULY 20, 2010, 7:47 A.M. ET

By MATT JARZEMSKY

Whirlpool Corp.'s earnings more than doubled, handily topping analysts' estimates, as higher volume boosted sales and margins on an improved economy.

The appliance maker has seen results rebound of late as demand has been rebounding off the recession's woeful levels. It restructured during the downturn, shuttering plants and freezing salaries as consumers delayed appliance purchases and housing construction slumped.

Whirlpool posted second-quarter earnings of $205 million, or $2.64 a share, up from $78 million, or $1.04 a share, a year earlier. Excluding items such as a Brazilian legal dispute and refundable energy surcharge credits, earnings soared to $2.82 from 94 cents. Sales increased 8.8% to $4.53 billion and were up 6% excluding currency fluctuations.

Analysts polled by Thomson Reuters had predicted earnings of $2.13 on $4.48 billion in sales.

Gross margin widened to 16.8% from 13.3%.

Sales in North America, the company's largest selling region, were up 6%, or 4% excluding currency impacts, as shipments increased 7% and earnings jumped two-thirds. Europe sales fell 6%, but the region swung to the black on lower costs. Latin America and Asia sales jumped 24% and 43%, respectively.

Write to Matt Jarzemsky at [e-mail]

http://online.wsj.com/article/SB10001424052748703724104575378732389761268.html?mod=loomia&loomia_si=t0:a16:g12:r1:c0.301166:b35821988

[hang ten]

ZH>Game Over, Radioshack LBO Rumors, Game Over
Submitted by Tyler Durden on 07/20/2010 06:49 -0500

BainBloomberg NewsGoldman SachsLBOReutersUnemployment


The day every sane investor has been waiting for is here - today marks the end of the Radioschack LBO rumors. After 3 years, 4 months, 50 days. 8 hours and 44 seconds (give or take) of hourly rumormongering that the increasingly irrelevant electronics retailer was supposed to be bought "any given day now" at a 10x+ EBITDA multiple by each and every PE firm in the universe, and with allegedly intelligent investors falling for it each and every time, it appears the end is here. Incidentally, according to preliminary calculations, a dedicated investor that would have done nothing but short RSH on every rumor spike would have returned about an 80% CAGR over the past 3 years. Couple this with selling RSH CDS and the ROI would have been the highest recorded in human history. From Reuters: "Blackstone Group and TPG Capital are unlikely to continue to pursue a possible bid for RadioShack Corp (RSH.N), two sources familiar with the situation said on Monday. Bain Capital had been interested earlier but is no longer in the auction, sources previously told Reuters." And with this, an entire section of rumor disseminators at the NY Post will suddenly find themselves praying Congress passes the unemployment extension bill later today.


More facts from Reuters:

RadioShack has been exploring strategic options and hired Goldman Sachs Group Inc (GS.N) earlier this year to advise it.

RadioShack, which is trying to rebrand itself as "The Shack," has been focusing on its wireless business to offset weak sales of products like TV converter boxes, video game systems and batteries.

Bloomberg News first reported that TPG and Blackstone would likely withdraw from the auction. Blackstone and TPG declined to comment.

Other buyout firms have also expressed interest in RadioShack such as Advent International, sources previously told Reuters.