Replies to post #6752 on The Rising Influence of Rising Affluence

[Timothy Smith]

$BRY - Any thoughts on the acquisition?

Linn Energy (LINE) is an oil and natural gas E&P company. It had approximately 4.8 Tcfe of proved reserves as of Dec. 31, 2012.

It is now in the process of buying Berry Petroleum (BRY) for $4.3B. With that acquisition LINE's proved reserves will go up to approximately 6.4 Tcfe. 62% of these are proved developed.

The combined company's reserves will be approximately 54% oil and NGLs and 46% natural gas. They will have approximately a 16 year reserve life index.

Berry Petroleum also has approximately 3.8 Tcfe of probable and possible reserves. Developing these should help LINE maintain production as older assets move farther down on their production curves.

[DewDiligence]

3M (-3%) lowers 2013 guidance on weak sales of films for flat-panel display screens:

http://www.reuters.com/article/2013/04/25/3m-results-idUSL2N0DC0ZF20130425

Prices for [flat-panel] TVs, as well as the amount of televisions sold, have fallen recently as consumers move toward touch-screen devices. Global demand for TVs is expected to plateau this year as many consumers in developed countries already own a flat-screen TV. TV manufacturers Sony Corp and Samsung Electronics Co Ltd are among 3M's largest customers. Both are paring their TV units.

…The machines 3M uses to make the TV films are complex and expensive, and the trick for the company will be to find…ways to use the machines for touchscreen products…

The electronics segment has been 3M’s worst-performing business for several quarters, but in prior quarters the other segments (including healthcare) were able to pick up the slack. Not so this time.

3M lowered 2013 non-GAAP EPS guidance by $0.10 to a range of $6.60-6.85 (from the prior range of $6.70-$6.95).

No change was made to the long-term (2014-2017) guidance set forth in #msg-86051080; however, the forecast of 9-11% annual growth in non-GAAP EPS would now seem to be hard to attain.