Posts Tagged ‘Industrial Stocks’

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Dycom Industries Inc. (DY) shares higher on strong numbers

Wednesday, August 24th, 2011

Dycom Industries Inc. (NYSE: DY) shares gained 10.3% to $15.25, after the specialty contracting company late Tuesday reported a spike in fiscal fourth-quarter income. Volume for the stock surmounted one million shares, whereas its daily average was about 363,000.

A news release dated August 23 reported that the company, based out of Palm Beach Gardens, Florida, had revenues of $303.7 million for the quarter ended July 30, 2011, compared to $281.5 million for the quarter ended July 31, 2010, an increase of 10.8% after adjusting for revenues from acquired businesses and the incremental week in the fourth quarter of fiscal 2010;

Quarterly net income of $13.0 million, or $0.38 per common share diluted, compared to $4.6 million, or $0.12 per common share diluted, for the prior-year quarter. Share repurchases amounted to 580,000 shares of its common stock for $9.1 million in open market transactions during the quarter ended July 30, 2011.

Dycom is a leading provider of specialty contracting services throughout the United States. These services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities including telecommunications providers, and other construction and maintenance services to electric and gas utilities and others.

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A123 Systems Inc. (AONE) benefits from new GM supply deal

Thursday, August 11th, 2011

A123 Systems Inc. (Nasdaq: AONE) shares rallied 46.1% to $4.63 Thursday after General Motors Corp. (NYSE: GM) said it signed a supply contract to the battery maker. Volume for A123 was 12.8 million shares, compared to a daily average of 2.7 million.

A story in the Wall Street Journal on August 11 stated that the agreement builds on existing contracts between GM and A123, which focused on lithium-ion battery technology at both the cell and system level. The new contract includes advanced nanophosphate cells and fully integrated electronic components. The specific vehicles and brands will be announced at a later date, according to GM.

Jason Forcier, Vice President of A123’s automotive solutions group, told Dow Jones Newswires the company would get a “substantial revenue stream” out of the program. Yearly unit volume is expected to start in the thousands and could possibly reach the tens of thousands.

Forcier said the contract would cover a vehicle platform that would be launched in the U.S. and abroad, saying demand for fuel-efficient vehicles would continue to increase due to higher fuel costs and increased government standards.

A123 Systems, Inc. develops and manufactures advanced lithium ion batteries and battery systems for the transportation, electric grid services and commercial markets. Headquartered in Massachusetts and founded in 2001, A123 Systems’ proprietary nanoscale electrode technology is built on initial developments from the Massachusetts Institute of Technology

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CNH Global NV (CNH) stock growing after profit figures released

Monday, July 25th, 2011

CNH Global NV (NYSE: CNH) U.S.-listed shares rose 10.9% to $41.34 after the Dutch farm-equipment manufacturer raised its outlook for 2011 sales growth. Volume for the stock surmounted 1.2 million shares, or three times its normal daily volume.

A news release out July 25 stated that the company saw net sales increase 24% (18% on a constant currency basis) to $4.9 billion as a result of favorable trading conditions for agricultural equipment, as well as higher comparative construction equipment demand in every region. Equipment Operations posted an Operating Profit of $521 million as a result of higher revenues, increased industrial utilization and improved product pricing.

Net equipment sales for the quarter were 79% agricultural equipment and 21% construction equipment. The geographical distribution of revenue for the period was 42% North America, 35% EAME & CIS, 15% Latin America, and 8% APAC markets.

Net income before restructuring and exceptional items for the quarter was $320 million as a result of improved top line and industrial operating performance, improved results from the Group’s unconsolidated subsidiaries, and a lower tax rate. This resulted in the Group generating a significant increase in diluted earnings per share to $1.33 (before restructuring and exceptional items) compared to $0.59 per share in the comparable period of 2010.

Management of CNH did not comment in the release, although it did hold a conference call to take questions about its bottom line figures.
CNH Global N.V. is a world leader in the agricultural and construction equipment businesses.

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Takeover target Nalco Holding Co. (NLC) jumps in price

Wednesday, July 20th, 2011

Nalco Holding Co. (NYSE: NLC) shares jumped 24.2% to $35.86 after pest-control services provider Ecolab Inc. (NYSE: ECL) said it would acquire the water-treatment company for about $5.4 billion. Volume for Nalco amounted to 22.2 million shares, towering over a daily average of just better than one million.

The company out of Napierville, Illinois put out a news release saying that, under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, Nalco’s shareholders may elect to receive either 0.7005 share of Ecolab common stock per share of Nalco common stock or $38.80 in cash, without interest, per share of Nalco common stock.

Nalco CEO J. Erik Fyrwald was quoted in the release as saying, “This is a strategically and financially compelling transaction that brings together two highly complementary businesses — combining Nalco’s leading positions in water and energy services with Ecolab’s strength in the food and beverage, health-care and institutional markets.

“Moreover, this transaction delivers substantial value to our shareholders through an immediate premium to Nalco’s share price as well as the opportunity to participate in the upside potential of the combined company. We are confident that our strong momentum, along with the combined enterprise’s significant financial resources, will enable us to deliver both accelerated growth and improved profitability.”

Nalco Company prides itself as being the world’s largest sustainability services company focused on industrial water, energy and air applications. The company says it helps customers reduce energy, water and other natural resource consumption, minimizing environmental releases while boosting the bottom line.

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Arch Chemicals Inc. (ARJ) benefits from buyout by Swiss firm

Monday, July 11th, 2011

Arch Chemicals Inc. (NYSE: ARJ) shares rose Monday by 11.2% to $46.88. The biocides firm agreed to be acquired by Swiss chemical company Lonza Group AG in a cash transaction valued at $1.4 billion, the companies said. Volume for the stock ballooned to more than 8.5 million shares, over a daily average of less than 198,000.

A release dated July 11 stated that the Norwalk, Conn.-based Arch received an offer from Lonza representing a 36.7% premium to Arch Chemicals’ average closing price over the last 30 trading days. Based on the offer price for all the outstanding shares, Arch Chemicals’ enterprise value would be $1.4 billion (approximately 1.25 billion Swiss francs).

Lonza’s cash offer is subject to customary conditions including the tendering of more than two-thirds of Arch Chemicals’ outstanding shares of common stock and clearance from antitrust regulatory authorities. Lonza expects to commence the tender offer by July 15 and to complete the tender offer later in 2011.

Said Arch CEO Michael Campbell in the same release, “We are pleased to have reached this agreement with Lonza, a company that knows our business well and shares our commitment to continuous improvement in innovation, operational excellence, safety and sustainability.

“We are confident that we have found the right strategic partner to help our business reach the next level of success. This compelling transaction offers Arch Chemicals shareholders a meaningful premium for their shares and will create exciting opportunities for Arch Chemicals employees, while enhancing offerings for customers.”

Arch Chemicals, Inc. is a global Biocides company with annual sales of over $1 billion U.S. Arch and its subsidiaries provide innovative, chemistry-based and related solutions to destroy or to selectively inhibit the growth of harmful microorganisms.

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