| Horizon Lines, Inc. Q3 2009 Earnings Call Transcript Horizon Lines, Inc. (HRZ)Q3 2009 Earnings Call TranscriptOctober 23, 2009 11:00 am ETComplete Story » seekingalpha.com |
United Airlines Orders $10 Billion Worth of Planes Zacks.com submits: United Airlines, a subsidiary of UAL Corporation (UAUA), has ordered for 25 Boeing 787-8 aircraft from Boeing Company (BA) and 25 Airbus A350-900 XWB aircraft. The orders are worth $4 billion and $6 billion, respectively, at list prices. Following the purchase, UAL Corp. will be the second US carrier to operate the Airbus A350. The company is expected to take delivery of the aircraft between 2016 and 2019. United Airlines intends to reduce fuel burn on typical flights by up to a third, saving 175 million gallons of fuel per year. The company also aims to simplify maintenance by reducing the number of classes of aircraft used on United's network. The 787 will replace the 767 (aging approximately 14 years), while the larger variant of the A350 will replace the 747 (aging approximately 13 years). Complete Story » seekingalpha.com |
StealthGas Softens Blow With $15 Million Share Buyback LNG (liquefied petroleum gas) shipping company, StealthGas (GASS) delivered disappointing results for the three month and twelve month periods ended December 31, 2009, this morning, but softened the blow with confirmation that is would use some of its cash pile to commence a share buyback.The Greek shipping company had warned several times in 2009 that it was expecting a difficult year, but nonetheless shares in the company fell 5% this morning after the company reported fourth quarter and full year results, and gave a fairly gloomy outlook for 2010.Complete Story » seekingalpha.com |
Berkshire's Burlington Northern: Will Plans for Accelerating Capex Go Forward? Ravi Nagarajan submits:Over the past several months, many Berkshire Hathaway (BRK.A) shareholders have been thinking about the company’s strategy for Burlington Northern Santa Fe which was acquired on February 12. Is it a “crazy deal” as Columbia University Professor Bruce Greenwald has claimed? Or is it a “heck of an investment” as Fairholme Fund’s Bruce Berkowitz claims? The answer ultimately comes down to deployment of free cash flow. In January, we suggested that Warren Buffett’s investment rationale for Burlington Northern must include some level of expansion capex in order to justify the price paid for the company. In that article, we provided an exhibit that shows that cumulative free cash flow for the five years ending December 31, 2009 was approximately $6.6 billion. A significant portion of operating cash flow was dedicated toward capex, and 80 percent of that capex was identified by management as “maintenance” capex. Of the $6.6 billion in free cash flow (after capital expenditures), over $5.9 billion was returned to shareholders either in the form of dividends or share repurchases. The exhibits from the January article are repeated below.Complete Story » seekingalpha.com |
Boeing Pushes Back Delivery of First 787s - Again Zacks.com submits: Aerospace giant Boeing Company (BA) announced that the consumers have to wait a little longer for the 787 passenger jetliner, as the first delivery is now expected mid-way through first-quarter 2011.Boeing had earlier expected to deliver the first 787 to Japan's All Nippon Airways later this year. In July, the company rescheduled the delivery date and said the first 787 will be delivered within the first few weeks of 2011, citing supplier workmanship issues related to the horizontal stabilizer and instrumentation delays.Complete Story » seekingalpha.com |