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Caterpillar Inc CAT profits soars to 60 percent

Thursday, January 26th, 2012

Caterpillar Inc CAT Caterpillar Inc. (NYSE: CAT) reported a 60 percent rise in quarterly earnings that exceeded Wall Street expectations on record sales of construction and mining equipment, and projected growth for 2011. Fourth-quarter sales and revenues in 2011 were an all-time quarterly record at $17.243 billion, an increase of 35 percent compared with $12.807 billion in the fourth quarter of 2010. Fourth-quarter profit was $1.547 billion compared with $968 million in the fourth quarter of 2010. Profit of $2.32 per share was 58 percent higher than the $1.47 per share in the fourth quarter of 2010.

The growth of Caterpiller is a positive indicator in the strength of the global economy and in construction spending in the United States. Caterpillar credits the incredible growth to many of its customers replacing aging equipment and rapid growth in developing parts of the world.

“Our strategy is squarely focused on customers, and in 2011 our employees, suppliers and dealers delivered. We improved product quality, invested significantly in manufacturing capacity and product  development, and improved our market position.” said Caterpillar Chairman and Chief Executive Officer Doug Oberhelman.

About Caterpillar Inc. (NYSE: CAT)

Caterpillar Inc. is a corporation which designs, manufactures, markets and sells machinery and engines and sells financial products and insurance to customers via a worldwide dealer network. Caterpillar is the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.  With more than US$70 billion in assets, Caterpillar was ranked number one in its industry and number 44 overall in the 2009 Fortune 500. Caterpillar stock is a component of the Dow Jones Industrial Average.

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Buyout target Caliper Life Sciences Inc. (CALP) leaps

Thursday, September 8th, 2011

Caliper Life Sciences Inc. (Nasdaq: CALP) surged 40.2% to $10.36 a share after PerkinElmer Inc. (NYSE: PKI) said it would buy the maker of genomic-detection technologies for about $600 million, or $10.50 a share, in cash. Volume for the stock topped 26 million shares, where it normally would trade in 403,000 in an average day.

A news release dated September 8 stated that the Hopkinton, MA-based Caliper was being bought by PerkinElmer, Inc., a global leader focused on improving the health and safety of people and the environment.

The combined technology platforms will expand PerkinElmer’s deep portfolio of solutions and services for global customers including:

  • Broader offerings for molecular, cellular, animal and tissue imaging to enable translational medicine research;
  • Addition of a world-leading microfluidics platform for genomics and proteomics applications, for improved detection and screening through low sample use and efficiency;
  • High-value sample preparation technologies for key scientific workflow areas such as Next Generation DNA Sequencing

Caliper CEO Kevin Hrusovsky, noted in the same release, “We are delighted to become part of PerkinElmer. For 10 years, Caliper has partnered with strategic customers to develop a compelling suite of discovery technologies for broad life science applications.”

Hrusovsky added, “I am excited by both PerkinElmer’s ability to leverage its global reach for the delivery of solutions and the opportunity to accelerate the development of important advances that make a difference in improving human and environmental health. I am confident this is the correct strategic direction at this time for Caliper customers, shareholders and employees, and we are looking forward to becoming part of one of the leading companies in our industry.”

Hrusovsky is anticipated to join the PerkinElmer senior leadership team following the close of the transaction.

The total purchase price represents a premium of 42% for Caliper Life Sciences shareholders, relative to the closing price of $7.39 on Wednesday, September 7, 2011, the last trading day prior to today’s announcement.
Caliper Life Sciences is a premier provider of cutting-edge technologies enabling researchers in the life sciences industry to create life-saving and enhancing medicines and diagnostic tests more quickly and efficiently.

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Temple Inland Inc. (TIN) jumps on International buyout

Tuesday, September 6th, 2011

Temple Inland Inc. (NYSE: TIN) shares rallied 25.5% to $30.91 a piece Tuesday after International Paper Co. (NYSE: IP) raised its raised its offer for the shipping-box maker. Volume for Temple topped 27.6 million shares, nearly eight times its daily average.

A news release out September 6 noted that the Memphis-based Temple and International announced that they have entered into a definitive merger agreement under which International Paper will acquire all of the outstanding common stock of Temple-Inland for $32.00 per share in cash, plus the assumption of $600 million in Temple-Inland’s year-end debt. The total transaction value is approximately $4.3 billion.

The combination, which has been approved by the Boards of both companies, offers numerous benefits for the shareholders and customers of both companies, and is consistent with International Paper’s focus on achieving and sustaining cost of capital returns throughout the cycle. The transaction is expected to be accretive to International Paper’s shareholders in year one after closing. It is expected to close in the first quarter of 2012.

Temple-Inland Chairman and Chief Executive Officer Doyle R. Simons was quoted in the release as saying, “this transaction creates value for both Temple-Inland and International Paper shareholders. The combined company will be positioned to be a leader in providing high quality products for its customers.”

Temple-Inland Inc. is a manufacturing company focused on corrugated packaging and building products. The fully integrated corrugated packaging operation consists of seven mills and 59 converting facilities.

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Posted in Consumer Discretionary Stocks, Consumer Staples Stocks | No Comments »

Movado Group Inc. (MOV) moves on profit picture

Thursday, September 1st, 2011

Movado Group Inc. (NYSE: MOV) shares gained 8.5% to $14.93 after the watch manufacturer reported second-quarter profit that topped Wall Street’s expectations. Share volume for the company totaled more than 142,000, nosing out its all-day average of 121,000 shares before noon ET Thursday.

A news release dated Sept. 1, noted that the company, based out of Paramus, N.J., announced net sales in the second quarter of fiscal 2012 increased 32.6% to $113.2 million, compared to $85.4 million in the second quarter of fiscal 2011, driven by growth in every brand category. On a constant dollar basis, net sales increased 25.5% compared to the prior year period.

Gross profit in the second quarter of fiscal 2012 was $60.9 million, or 53.8% of sales, compared to $44.4 million, or 52.0% of sales, in the second quarter last year. The increase in gross margin percentage is primarily the result of leverage gained on certain fixed costs as well as a favorable shift in channel and product mix.

The same release quoted Movado CEO Efraim Grinberg as saying, “We are very pleased with our second quarter and year-to-date performance. Our strategic initiatives coupled with solid execution have continued to benefit our results as we recorded another period of double-digit sales growth while also increasing our profitability.

Grinberg  continued, “While we experienced broad-based sales growth across all of our brand categories, our results continue to be driven by particularly strong performances in Movado and licensed brands both domestically and internationally.”

Movado Group, Inc. designs, sources, and distributes MOVADO®, EBEL®, CONCORD®, ESQ® by Movado, COACH®, TOMMY HILFIGER®, HUGO BOSS®, JUICY COUTURE® and LACOSTE® watches worldwide, and operates Movado company stores in the United States.

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Venoco Inc. (VQ) exploring going private, stock zooms

Monday, August 29th, 2011

Venoco Inc. (NYSE: VQ) shares surged 30.3% to $11.70 after the oil and natural-gas company’s chief executive proposed taking the company private at a price of $12.50 a share. The stock volume Monday of 2.5 million shares proved more than five times its daily average.

A news release issued August 29 reported that the Denver-based Venoco, Inc. announced that its board of directors had received a non-binding proposal from CEO Timothy M. Marquez, the holder of approximately 50.3% of Venoco’s outstanding common stock, to acquire all of the outstanding shares of Venoco common stock for $12.50 per share in cash.

In response, Venoco’s board is in the process of forming a special committee of independent directors to consider the proposal, which will be comprised of all of the directors of the company other than Mr. Marquez. The committee will retain independent financial advisors and legal counsel to assist it in its work.

The release quotes the board of directors as cautioning Venoco shareholders and others considering trading in its securities that it has only received the proposal and that no decision has been made with respect to the company’s response to the proposal.

Venoco is an independent energy company primarily engaged in the acquisition, exploration, exploitation and development of oil and natural gas properties primarily in California.

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