| Honeywell Beats Estimates in Q3 Zacks.com submits: Honeywell International Inc. (HON) reported third quarter 2009 sales of $7.7 billion versus $9.3 billion in the third quarter last year. Earnings were 80 cents per share compared to 97 cents per share in the third quarter of 2008. This was higher than the Zacks Consensus Estimate of 72 cents. Complete Story » seekingalpha.com |
Mixed Results for Rail Traffic Rail traffic continues to improve in the near-term, but long-term comps show a very meager recovery. Total carloads were down 5.4% compared to the very weak 2008 period and down 13.3% compared to 2007. Intermodal traffic declined 4.2% year over year and was down 13.6% compared to 2007. Although the move higher in traffic is encouraging, the year over year declines compared with 2007 and 2008 highlight just how weak the current recovery is. The economy remains very fragile. The AAR reports:Complete Story » seekingalpha.com |
AerCap and Genesis Finalize Merger; Create Earnings Powerhouse Stone Fox Capital submits:Finally, the merger between AerCap Holdings (AER) and Genesis Lease (GLS) will be finalized today, creating the largest independent airplane leasing company. It also creates an earnings powerhouse. For 2010, they expect to earn well over $2/share with the stock trading below $11 now. A P/E of 5 is absurd now that global growth has returned and most of their customers should see growth even in the US market. Not to mention that 5 years earnings growth is placed at 12.5%, meaning a fair valuation would be around $25. The finalization of this merger should hopefully bring much more focus to how cheap the combined entity remains. Both stocks have rallied big time since the March 2009 lows, but they still remain insanely cheap on a historical basis. The risks of airlines going bankrupt is greatly reduced now that the financial crisis is largely over. Also, the inability of Boeing (BA) to produce its new plane has helped reduce the competition for their existing planes. It will now be years before those new planes reach a critical mass.Complete Story » seekingalpha.com |
Rail Freight Volumes Begin to Level Off Wildebeest submits: The Association of American Railroads [AAR] released data for week 18, 2010 on Thursday. Data from the recent releases indicates a degree of leveling off in volumes. Perhaps this indicates a new normal at levels somewhere between the 2009 levels and pre-recession levels.The following charts show intermodal and carloads freight volumes since 2007, along with a 52 week moving average.Complete Story » seekingalpha.com |
Deja Vu All Over Again: Boeing Delays Dreamliner for Sixth Time Money Morning submits: By Don Miller In what seems like a never ending saga, The Boeing Co. (NYSE:BA) postponed delivery of its 787 Dreamliner for the sixth time, promising now to finally hand over the first plane to customers in the middle of the first quarter of 2011.Complete Story » seekingalpha.com |