Archive for the ‘Industrial Stocks’ Category

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PFIN surges, LVLT trades widely, SRDX bruised

Thursday, November 11th, 2010

P & F Industries Inc. (NasdaqGM: PFIN) sprinted ahead in mid-morning trade Thursday by 38.12 percent to $2.79. Volume in this stock was40,315 shares, greater than six times the number it would normally have in a whole day. Wednesday, the Melville, N.Y. company reported revenue of $14,267,000, compared to $13,144,000 for the same period in 2009. For the three-month period ended September 30, 2010, the Company reported income after taxes from continuing operations of $632,000, compared to $56,000 during the three-month period ended September 30, 2009.

Level 3 Communications Inc. (NasdaqGS: LVLT) did brisk trade of 49,621,850 shares as the clock approached noon ET on Thursday, in contrast with full-day average volume of 29,166,400 shares. Shares in LVLT hiked 12.62 percent to $1.16. The activity follows an announcement by LVLT that it has been selected to serve as a primary content delivery network provider for Netflix, Inc. to support the company’s streaming functionality and to support storage for the entire Netflix library of content.

SurModics Inc. (NasdaqGS: SRDX) took a pasting on price Thursday near noon ET, falling 27.23 percent to $9.54. Volume for the stock was 777,146 shares, trampling over its usual daily average volume of 63,936. The Minnesota-based drug delivery company reported a loss of $21.7 million, or $1.25 per share, for the quarter ended Sept. 30, versus a profit of $2.7 million, or 16 cents per share, for the same period in 2009.

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CCCLU clicking, CSCO awaits Q1 results, IDSA slides on earnings info

Wednesday, November 10th, 2010

China Ceramics Company Ltd. (NasdaqCM: CCCLU) took off solidly, gaining 28 percent in mid-afternoon trade Wednesday to $8.00. Volume was only 200 shares, with daily average volume not available at press time. The leading Chinese manufacturer of ceramic tiles reported third-quarter revenues of $43.3 million, up 24.7 percent from the prior-year quarter, and gross profit of $13.8 million, up 24.2 percent from last year’s Q3.

Cisco Systems Inc. (NasdaqGS: CSCO) added 0.45 percent in price in mid-Wednesday trading to $24.46. Volume was 43,238,999 shares, reducing the gap with its daily volume average of 56,281,400 shares. The San Francisco-based tech giant is set to report results for the first quarter after Wednesday’s close.

Industrial Services of America Inc. (NasdaqCM: IDSA) dumped 20.38 percent in price Wednesday afternoon to $12.31. Share volume of 622,023 towered over its average of 171,574 shares. The dismal news follows word that IDSA reported Wednesday that net income for the third quarter fell 13.6 percent to $1.9 million, or 28 cents per share, from $2.2 million, or 37 cents per share in Q3 2009.

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Posted in Consumer Discretionary Stocks, Industrial Stocks, Technology Stocks | 1 Comment »

CIMT jets ahead, C, BAC hold own, SMT down on downgrade

Wednesday, November 10th, 2010

Cimatron Limited (NasdaqCM: CIMT) stood out amid all the initial gloom on Wednesday, gaining 68.54 percent in price to $3.00 in the first trading hour. Volume broke away from its three-month daily restraints of 6,132 and crowded the half-million mark to begin the day. The Israeli-based provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries announced third-quarter revenues were up 26% from the same quarter last year.

Citigroup (NYSE: C) proved the volume leader early Wednesday, trading in 107,771,989 shares in the first hour. The banking group even managed to forge ahead in price by 0.47 percent to $4.32.

Bank of America Corporation (NYSE: BAC) traded in 48,192,182 shares in the first hour Wednesday, compared to a daily three-month average of 193,972,000. BAC shares inched up 0.16 percent to $12.29.

Smart Technologies Inc. (NasdaqGS: SMT) saw its price tumble 27.47 percent in Wednesday’s first hour to $9.48. Volume in SMT hit 6,537,933 shares in the opening hours, more than 10 times its three-month average. The slip comes after a downgrade by RBC Capital Markets to “sector perform” from “outperform”.

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Posted in Financial Stocks, Industrial Stocks, Technology Stocks | 1 Comment »

Alcoa, Inc. (AA) – Buzz Stock of the Day

Thursday, October 7th, 2010

Alcoa, Inc. (NYSE: AA), the largest U.S. aluminum increased its outlook for global aluminum demand as markets appear to be strengthening, sending its shares up more than 3 percent in after-hours trading on Thursday.

Alcoa increased its 2010 global aluminum consumption forecast to 13 percent from 12 percent, and noted growing demand for the metal in the BRIC nations (Brazil, Russia, India, and China), among others.

Alcoa boasted third quarter profit of $61 million, or 6 cents per share, compared with $77 million or 8 cents per share in the same quarter last year, citing a drop in the price of aluminum and a weaker dollar. Revenue in the quarter rose 15 percent to $5.3 billion on higher volumes in aerospace and increased market share in the building and construction market.
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Analysts on average were expecting earnings of 5 cents per share, according to Thomson Reuters I/B/E/S.

Analyst Charles Bradford of Affiliated Research Group in New York, told Reuters that the results were better than expected because of cost reductions. “But the metal’s price was pretty obvious. The fourth-quarter metals price ought to be a fair bit better,” he told the news agency.

“One thing that’s important to note, even though the aluminum price has gone up in the last weeks, you typically have lag time until it hits our bottom line, which is typically two weeks,” Alcoa CEO, Klaus Kleinfeld said in an interview with Maria Bartiromo. “We didn’t get much — actually almost nothing of that increase into the third quarter. You would see that coming through in the fourth quarter.”

Watch the full interview below:

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SinoCoking and Coke Chemical Industries, Inc. (SCOK) – Buzz Stock of the Day

Monday, August 23rd, 2010

Shares of coal products maker SinoCoking and Coke Chemical Industries, Inc. (Nasdaq: SCOK) were up nearly 30 percent from Friday’s closing price in morning trading on Monday.

Last week, the company announced that its wholly controlled affiliate, Pingdingshan Hongli Coal & Coke Co., Ltd. entered into a definitive agreement to acquire a 60 percent equity interest in Baofeng Shuangrui Coal Co., Ltd. for approximately $12.4 million. Baofeng operates the Xingsheng Coal Mine. The coalmines are similar in size, each with 2 million metric tons of estimated coal reserves.
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“This is a significant milestone and denotes the first step in our consolidation strategy,” said Jianhua Lv, Chairman and CEO of SinoCoking in a statement. “As the Chinese government continues its efforts to consolidate small coal mines to improve both production efficiencies and safety protocols, we are well positioned with the appropriate approvals to capitalize on this opportunity.”

Pursuant to the Agreements, Hongli will the pay the owners of each mining company an aggregate purchase price of $6.2 million in cash, of which approximately $1.5 million was provided as a refundable deposit to examine the financials, licenses, and reserve data. The purchase will be made under the following schedule for each mining company: $1.7 million within 30 business days from the September 10, 2010; $0.7 million within 20 business days from the completion of the transfer of equity interests to Hongli; $0.7 million within six months from the completion of the transfer of equity interests to Hongli; the balance within one year from the completion of the transfer of equity interests to Hongli. If total annual output is less than 150,000 metric tons, Hongli is entitled to an additional 10 percent of equity interests; and if coal reserves are less than 2 million metric tons, Hongli is entitled to an additional 10 percent of equity interests.

Shares of SinoCoking and Coke Chemical Industries, Inc. are trading about 70 percent lower than their 52-week high of $53.70 per share.

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Posted in Energy Stocks, Industrial Stocks, Materials Stocks | No Comments »

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