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- Schnitzer Steel Industries: Value Buy Alert
Schnitzer Steel is riding the price surge on ferrous metals to record earnings. The company has surprised on estimates 2 out of the last 4 quarters. Schnitzer has a forward P/E of only 10.80 even as the stock has soared in 2008.
Company Description
Schnitzer Steel Industries, Inc. (SCHN) manufactures and exports recycled ferrous metal products in the United States. Founded in 1906, the company has facilities in 11 … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Fishing For Profits In The Fannie/Freddie Flotsam
The bailout of mortgage giants Fannie Mae (fnm) and Freddie Mac (fre) is extremely confusing to holders of their debt and equity securities, because it's very difficult to figure out what the final outcome of the "rescue” might be, and if so, who benefits.
However, as a service to our readers who are unfortunate enough to have been holding Fannie or Freddie paper, or to the venturesome few who wonder whether there is any among the debris, I thought … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Earnings Season Gets Off To A Mixed Start
While still in the early innings, second-quarter earnings season is in full swing.
We have enough results to form a reasonable picture of what the quarter looked like. So far, 89 firms, or 17.8% of the S&P 500, have reported. It is not a representative sample, as some sectors historically report sooner than others. Nonetheless, this very limited sample is somewhat encouraging.
Positive surprises are leading disappointments by a 2.9:1 ratio, in-line with recent historical norms. The … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - The Non-OPEC Oil Peak
While the International Energy Agency’s oil supply forecast won’t be released until November 2008, there’s growing fear of a sharp downward revision in supplies. That means supply could be much tighter than previously thought, a nightmare scenario if proven true.
Any pessimistic IEA view will shock the market, spawning oil super spikes. We’ve already seen prices rocket to $130, doubling year over year. And it’ll only get worse on a dismal IEA forecast.
For years, the IEA has said that … [visit site to read more]
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Переслать - US Dollar Remains Rangebound In Forex Trading
Today's US Dollar Trading
• Volumes light
• USD remains range bound
• No news to focus onOvernight Preview
• Look for another quiet night
• USD likely to remain range-boundLooking Ahead to Tuesday
All times EASTERN (-5 GMT)
• 8:10am USD Treasury Sec Paulson Speaks
• 8:30am USD FOMC Member Plosser Speaks
• 10:00am USD House Price Index m/m
• 10:00am USD Richmond Manufacturing … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Consumer Spending Threatened By High Prices And Lower Wages
Consumer spending, which accounts for more than 70% of the economy, will be seriously threatened in the months ahead, as prices continue to rise, wages plateau, and government stimulus checks wear thin.
Consumer spending has remained strong in recent months, even jumping 0.8% in the month of May. But that boost was largely inflated by the $50 billion in government rebate checks that were cashed and put to use in the month.
The stimulus will total $107 billion this fiscal year, but that … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - How Investors Can Take Advantage Of Dark Knight's Success
The highly anticipated release of the latest installment of the Batman movie series has not disappointed as "Dark Knight" rode huge momentum into the biggest opening weekend in history. The movie—made by Warner Brothers, a division of Time Warner (twx)—raked in an estimated $155.3 million beating the old box office revenue record held by "SpiderMan 3". The buzz surrounding the movie's release was palpable partially due to the untimely death of Heath Ledger, … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Apple Plays The "Under-Promise And Over-Deliver" Tactic
Amongst the iPhone 3G euphoria surrounding Apple (aapl) these days is the bread and butter Computer and iPod business lines. Today, those lesser hyped money-machines were in the spotlight as the Cupertino Computer underdog posted an impressive and record breaking quarter.
Results coming across the wires placed Apple with $1.19/share in profits from $7.46Billion in revenue. Considering the street was averaged in at $1.07/share and $7.36Billion across the top line, those … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - How Washington Enabled The Fannie and Freddie Mess
Most people — apart from young idealists and other naive souls — have some sense of how things work in Washington: Money talks and everything else walks. Despite all the “rules” that are supposed to keep things fair and honest, a lot goes on and gets done that is clearly not in taxpayers’ interests. In a call-a-spade-a-spade editorial, “Fannie and Freddie’s Enablers,” the Wall Street Journal … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Is It Surprising That Stocks Are Having A Difficult Time Staying In Positive Territory?
American Express (axp) says they are scaling back efforts to get new customers in the US, but plan expansion in international and business cards. The CFO expects the US economy to weaken throughout the year. Why are they expanding into a weakening international market? And business….? Have they even been watching the news, let alone the declining global economy? Maybe they were just trying to sound optimistic, I don't know.
Wachovia (WB) … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Consolidation In Stock Indices: Is It Bullish?
THE FINAL NUMBERS - BULLISH CONSOLIDATION
NEWS: All red for the three major indices on Monday, but all things considered the action was not bad. The Dow closed with a loss of 29 points or 0.25% on the day, breaking a three-session losing streak. The S&P 500 was virtually unchanged after trading in a range of only 12 points the entire day. The NASDAQ was also little changed, falling 3 points on the day. The small and mid-cap stocks had a solid day, gained … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Bank Seized By The FDIC Continued To Make Bad Loans
A couple of months back I joked that having the Fed (and other inept regulatory agencies) design a new set of rules to govern the banking system was like having the Fox design the hen house; well in a case of reality imitating my snarkiness (or something along those lines) come this story of a bank continued to originated ill-conceived subprime mortgages after it was seized by the FDIC.
(From the WSJ): “Federal officials heap much of the blame for the subprime mortgage mess on … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Animal Care ETF Seems To Be A Drool-and-Pant-Worthy Idea
An animal care exchange traded fund (ETF) could be an idea whose time has come.
Anyone who has a pet is all-too-familiar with the vet and the worry that comes with each visit: What's wrong with my animal? How much is this going to cost? And many people will spend whatever it takes to get their furry friend back to his old spunky self. Why shouldn't pet lovers be allowed to capitalize on that desire, too?
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Africa's Tough Decisions About Food Or Water Help Certain ETFs
In Africa, the population is struggling with a life-or-life dilemma that could help infrastructure, agriculture and water-related exchange traded funds (ETFs).
For years, the countries in North Africa have drained aquifers, sucked the salt from seawater and diverted the Nile River in order to make deserts bloom, says Andrew Martin for the New York Times. The projects to do so were so expensive that importing food was more practical, and today, some countries import at least 90% of … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Economic Downturn Prompts A Paradigm Shift
President Harry S. Truman’s once said, “It’s a recession when your neighbor loses his job; it’s a depression when you lose yours.” Of course, he was being cynical. In general, a depression is an economic downturn that is deeper and lasts longer than a recession.
But there’s more to it. Because recessions tend to be relatively short-lived, many view them as minor stumbling blocks on the way to better times. In other words, the associated travails are to be endured, like a sudden bout of bad … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Stimulus Checks Most Likely Do Not Lead To Increase In Consumer Spending
Some thoughts on the consumer spending reports of recent months, inflation and the stimulus checks.
Back in May the story was that the stimulus checks were a resounding success and responsible for an alleged surge in retail spending. If you recall, I disagreed with this sentiment because … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - AuthenTec: Continued Execution Or Trouble Ahead?
It's a juicy time of the year right now for Wall Street with thousands of companies releasing earnings in the next few weeks that will either disappoint investors or help to allay their fears of the companies they cover. It's no different for us, as 4 of the companies that I cover either have reported, or are set to report earnings within a couple of weeks of each other.
Today we're going to preview our portfolio recommendation AuthenTec Inc. (auth), which will be … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Wal-Mart Supplier ETF Getting Boost From Slow Economy?
One of the areas that has demonstrated strength during this economic downturn is consumer spending on necessities, which might be benefiting the Wal-Mart supplier exchange traded fund (ETF).
Any strength shown among consumer spending in recent months has mostly been attributed to spending and discount retailers, such as Wal-Mart (wmt), Costco (cost) and Target (tgt). In fact, the most recent figures that showed a 4.3% jump in retail … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Company Uncovered: Commtouch (Nasdaq: CTCH)
Here is an interview with Commtouch (ctch):
Can you tell us a bit about Commtouch?
Gideon Mantel, CEO: Your timing is fantastic, by the way. Small-cap Israeli stocks have been hammered over the past 9 months. With the shekel appreciation, funds in the states lost money just on the currency divergence. … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Monday: Market Overview
The summer rally that started last week will continue today as shown by this morning's headlines and the boom in overseas market prices and early equity futures.
First up, we have the Bank of America (BAC) report that shows better than expected earnings plus the incredulous statement that the Countrywide Financial acquisition will be accretive to earnings this year and that integration costs will be less than expected.
Then we discover that the Yahoo … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
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