| RailAmerica IPO: The Numbers Just Don't Add Up Brendan Wagner submits:RailAmerica's (RA) IPO was yesterday, and it didn't go over very well. This is a railroad owned by private equity shop Fortress (FIG), which promptly dropped 4.5% today (Fortess that is), probably because the IPO was poorly received.How poorly? It had to cut in half the proposed number of shares sold to the public, and had to reduce the price. Even then, the stock closed down (click to enlarge):Complete Story » seekingalpha.com |
Repairs May Add to J.F.K.’s Delays In March, the runway that handles half of the airport’s departures will close for four months. nytimes.com |
Solid Auto Sales Boost Physical Platinum and Palladium ETFs Michael Johnston submits:After weathering a severe and prolonged downturn that saw multiple bankruptcies, unprecedented government intervention, and the near demise of the entire industry, American automakers finally have some good news to report. Ford (F) sold more cars than rival General Motors for the first time in 50 years in February (excluding two months in 1998 when GM was crippled by strikes), as car and light truck sales jumped more than 40% from the same period in 2009. Despite losing the monthly sales crown, GM reported a still impressive 11.5% bump over the previous year, while Toyota’s (TM) sales slumped following concerns over quality. Car-shopping Web site Edmunds.com recently reported that per-vehicle sales incentives in the U.S. fell 14% in February from a year earlier, indicating that the recent bounce in sales came without the aid of deep discounts that eat into profit margins. Ford is forecasting a pretax operating profit in 2010 after years of steep losses that saw market share and work force shrink. Ford’s stock price has gained more than 25% this year, including an 8% climb this week, rewarding investors who stuck with the beleaguered automaker. There is still no ETF focusing on the automotive industry (a glaring absence we can’t quite figure out), but several funds have received a nice boost from the auto industry’s improved outlook. Most notably, the Physical Palladium Shares (PALL) and Physical Platinum Shares (PPLT) from ETF Securities have been on the move this week.Complete Story » seekingalpha.com |
Why I'm Pessimistic About Tesla Motors Tate Dwinnell submits: The CBOE IPO is the hot IPO on everyone’s radar today, but in a couple weeks all eyes will be on the Tesla Motors IPO. The much hyped electric car maker with big name investors such as the Google (GOOG) founders, the Abu Dhabi government, Daimler (DDAIF.PK) and even the US government behind it, hopes to raise another $178 million through the IPO. Toyota Motors (TM) will inject another $50 million in the stock upon a successful Tesla IPO. The company is raising cash to help produce its second electric car, the Model S, which is a 4 door sedan initially priced at $50K.While the company bleeds red ink selling its novelty Roadster, the company hopes that the Model S will achieve volume production and get the company moving towards profitability around the 2013 time frame, but that may be too optimistic. I personally am not all that excited by this IPO. Companies that haven’t turned a profit and trade on potential haven’t fared well. If you look at US based lithium battery play A123 Systems (AONE), the initial hype wore off quickly and the stock continues to plummet to new lows. That could very well play out with the Tesla IPO as well.Complete Story » seekingalpha.com |
TBS International plc Q2 2010 Earnings Call Transcript TBS International plc. (TBSI)Q2 2010 Earnings CallAugust 06, 2010 8:30 a.m. ETComplete Story » seekingalpha.com |