TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| Time to Sell Avis Avis Budget Group (CAR) is up 16.5 times since the beginning of the year, and more if your starting point is the March 9 low. Of course the stock first collapsed before partially recovering. On August 7, 2007 Goldman Sachs rated CAR a buy at $23.26 a share. Back then CAR was enjoying robust pricing and volume growth. The stock had fallen 30% from early July to early August. That fall in the stock price was due to concerns about competition and fear that CAR would have to cut prices. But the second quarter of 2007 showed the pricing concerns were unfounded and CAR’s cost control plans were impressive. That triggered Goldman’s buy rating. Unfortunately CAR’s stock price did not recover. It continued falling, finishing 2007 down 50% from Goldman’s buy point. But analysts did not give up. In early 2008 management announced a $50 million share buy back program.On March 7, 2008 Value Line wrote, “This unranked stock’s appreciation potential to 2011-2013 is well above Value Line’s median, assuming, as we do, a partial rebound in the P/E ratio by that period.” In 2007 CAR generated $16.58 a share in cash flow. That was impressive and more than needed to service CAR’s substantial debts. As we now know the economic fundamentals changed suddenly and dashed all hopes for CAR’s profits and stock price.Complete Story » seekingalpha.com |
What's Next for the Auto Industry? Wall Street Strategies submits:So here we are in the last week of 2009, and what a year it has been for the automakers. Two of Detroit's "Big Three" filed for bankruptcy and are now shells of their former selves. General Motors (MTLQQ.PK) after filing for bankruptcy on June 1 is in the midst of trying to get rid of four of its brands (Pontiac, Saturn, Saab, and Hummer). It had an agreement to offload Opel and Vauxhall but that deal fell through and the board has decided to turn its attention to turning around GM Europe operations next (more on this later in the article). The other of Detroit's Big Three to file for bankruptcy was Chrysler, which after filing for bankruptcy in April has since been basically sold to Fiat (FIATY.PK) (and the U.S. and Canadian governments). Chrysler is still a long way from rebounding, but there are signs that General Motors is on the verge of a resurgence.Complete Story » seekingalpha.com |
Rail Data Improves The Pragmatic Capitalist submits: Rail traffic was mixed this week as the Chinese New Year skewed some of the data according to the AAR. Carloads fell 1.6% year over year and were down 15.3% versus 2008. Intermodal traffic jumped 19% , but was down 11.1% versus 2008. The year over year data was skewed by a sharp jump in container volume due to the week of the Chinese New Year. As a result container volume rose 25% year over year. The breadth of the data was slightly improved over last week. The AAR reports:Complete Story » seekingalpha.com |
Modine Manufacturing Company F4Q10 (Qtr End 03/31/10) Earnings Call Transcript Modine Manufacturing Company (MOD)F4Q10 (Qtr End 03/31/10) Earnings CallJune 3, 2010 11:00 am ETComplete Story » seekingalpha.com |
Alexander & Baldwin, Inc., Q2 2010 Earnings Call Transcript Alexander & Baldwin, Inc., (ALEX)Q2 2010 Earnings CallJuly 29, 2010 5:00 p.m. ETComplete Story » seekingalpha.com |