TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| BDI Signals Slack Demand for Raw Materials Individual Global Investor submits:Last Friday, the Baltic Dry Index ended the week on an up note at 2,183, finally. It was the first up day in 10 sessions. In fact, the 7.3% decline for the week was the ninth weekly drop in ten weeks. In the last three months, while global equity markets have rallied on increasing expectations of global recovery, the Baltic Dry Index (BDI) has quietly, steadily declined. Since its peak this year on June 3, 2009 at 4,291, it has declined 49%. The S&P 500 Index in the United States, for example, has increased 13% in the same time frame. This is important because unlike asset markets, this Baltic Dry Index measures economic activity that is supposed to be at the heart of the economic recovery. The index reflects the demand for, among other things, transporting iron ore and coal from Australia to China that is a direct input to Chinese industrial production topics I have discussed in past articles. Much of justification for a recovery, particularly in commodities prices, is linked to Asia-related trade and consumption. Yet if this trade and consumption was so robust the BDI should be headed up (or at least holding flat) rather than in retreat.Complete Story » seekingalpha.com |
TARP Thoughts: I Told You So Bob Mcteer submits: A couple of people have mentioned to me that the TARP repayments are all over the news and suggested that I write about it. My response has been that I didn’t know how to avoid saying I told you so. I’ve written and said often that TARP would produce a profit for taxpayers, or only a small loss. However, I could always feel eyes rolling. While I never bought the idea that TARP purchases of preferred stock was only from banks ALREADY in good condition, I do think it was limited to banks that WOULD BE expected to be in good condition AFTER the purchase. In many cases the government investment was conditional on the raising of private capital as well.Complete Story » seekingalpha.com |
Appaloosa Management Buys Airlines Market Folly submits: (This post is part of our series on tracking hedge fund portfolios. If you're unfamiliar with tracking investments they disclose via SEC filings, check out our series preface on hedge fund 13F filings.) This is the first time we've looked at David Tepper's hedge fund Appaloosa Management in-depth as they're now in our tracking mix. Before founding his fund, Tepper was a high yield bond trader for Goldman Sachs (GS). He likes to dig up companies that everyone else has called quits on and Appaloosa focuses on concentrated positions in both equities and distressed debt.Complete Story » seekingalpha.com |
General Dynamics Selected as Part of $6.6 Billion Contract Zacks.com submits: General Dynamics Information Technology, a business unit of General Dynamics Corp. (GD), has been selected by the Defense Intelligence Agency as one of 11 companies for the Solutions for the Information Technology Enterprise contract. The five-year, indefinite delivery/indefinite quantity contract has a total potential value of $6.6 billion. General Dynamics will provide solutions to satisfy current and future information technology requirements for the Defense Intelligence Agency, Army, Navy, Air Force, Marine Corps, Coast Guard, Combatant Commands, other Defense agencies and Civilian agencies. Work will consist of a multitude of services, such as systems engineering, operations support, network operation and administration, web services and content management, information assurance, security management and training.Complete Story » seekingalpha.com |
Earnings Preview: Lockheed Martin theflyonthewall.com submits: Lockheed Martin Corp. (LMT) is expected to report Q2 earnings on Tuesday, July 27 before the market open with a conference call scheduled for 11:00 am ET. GuidanceAnalysts are looking for EPS of $1.78 on revenue of $11.48B. The consensus range is $1.72-$1.84 for EPS, and $11.35B-$11.69B for revenue, according to First Call. Lockheed beat Q1 EPS and revenue estimates. However, it lowered its FY10 EPS guidance to $7.00-$7.20 from the prior view of $7.15-$7.35. FY10 consensus is $7.29. Since then, the shares have fallen approximately 15%, despite mixed sentiment. There have been several recent articles in major publications such as the Wall Street Journal and the Washington Post documenting the government’s intention to severely cut its defense spending in the near future. This combined with the company’s lowered guidance has weighed on the stock price. Complete Story » seekingalpha.com |