If youre waiting for Chipotle Mexican Grill (CMG) to recover from last year’s E. coli and salmonella outbreaks, dont hold your breath.
Chipotle is expected to report second-quarter earnings in mid-to-late July. William Brinson
Thats the warning from Morgan Stanley analyst John Glass. He downgraded the fast-casual chain of Mexican eateries to an equal weight from an overweight and cut the price target to $405 from $500, citing new evidence that a sales recovery could prove to be far more protracted than the Street expects.
Glass cited the results of a consumer survey he and his team ran in June to test attitudes towards Chipotle. Six months have passed since the last reported food safety incident, and according to survey results, approximately 25% of CMGs customershave stopped going or reduced the frequency of their visits.
Top 10 Construction Companies To Watch In Right Now: United States Steel Corporation(X)
United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products. This segment serves customers in the automotive, consumer and the combined industrial, service center, and mining commercial markets. The USSE segment provides slabs, sheets, strip mill plates, tin mill products, and spiral welded pipes, as well as heating radiators and refractory ceramic materials. This segment serves customers in the construction, service center, conversion, container, transportation, appliance and electrical, oil, gas, and petrochemical markets. The Tubular segment offers seamless and electric resistance welded steel casing and tubing; and standard and line pipe and m echanical tubing products primarily to customers in the oil, gas, and petrochemical markets. The company also provides railroad services; and owns, develops, and manages various real estate assets. United States Steel Corporation was founded in 1901 and is headquartered in Pittsburgh, Pennsylvania.
- [By Ben Levisohn]
Jefferies analyst Seth Rosenfeld and team explain why they upgraded U.S. Steel (X) to Hold from Underperform.
While US flat steel prices have peaked and will gradually normalise in the year ahead, steelmaker ASPs will see further upside in coming quarters as longer-term contracts reset. Imports are gradually creeping higher, but domestic supply discipline remains resolute. With annual contract negotiations nearing, our sensitivity analysis shows upside risk to base case expectations offsetting declining spot market trends, and we upgradeU.S. Steel to Hold…
While we remain concerned that U.S. Steel may de-rate on peak earnings as spot steel prices normalise in the coming year, the company deserves credit for recent cost performance, and U.S. Steel’s earnings trajectory may see more sustained upside as longer-term contracts reset into 2017. Reflecting U.S. Steel’s reduced balance sheet risk following debt refinancing and a potential bottoming of loss trajectory in Tubular, we valueU.S. Steel at its mid-cycle 5.0x EV/EBITDA, implying $24.50 fair value
But if you like U.S. Steel, you might really like ArcelorMittal (MT). Rosenfeld explains why:
Play Euro momentum via ArcelorMittal. While US prices have peaked, we see opportunity for an attractive catch-up trade in the Euro market moving into 2017 brought about by emerging protectionist trade policy and consolidation.ArcelorMittal is best leveraged to this momentum.
Shares of U.S. Steel gained 1.9% to $26.49 today, while ArcelorMittal has risen 1.8% to $6.45.
Top 10 Construction Companies To Watch In Right Now: Alliance Fiber Optic Products, Inc.(AFOP)
Alliance Fiber Optic Products, Inc. designs, manufactures, and markets various fiber optic components and integrated modules for communications equipment manufacturers and service providers in the United States, North America, Europe, and Asia. It offers connectivity products, including connectivity modules; optical connectors, adapters, and cable assemblies; fused and planar fiber optical splitters and couplers; optical tap couplers and ultra low polarization dependent loss tap couplers; amplifier wave division multiplexers (WDM) couplers; optical fixed attenuators; fused fiber WDM couplers; and fiber array units. The company also provides optical passive products comprising filter WDMs, dense wave division multiplexers (DWDMs), coarse wavelength division multiplexers, compact coarse wavelength division multiplexers, add/drop DWDM filters, optical isolators, optical bypass switches, and automatic variable optical attenuators. Alliance Fiber Optic Products, Inc. was founded in 1995 and is headquartered in Sunnyvale, California.
- [By Lisa Levin]
Alliance Fiber Optic Products Inc (NASDAQ: AFOP) shares shot up 19 percent to $18.47 after the company agreed to be acquired by Corning Incorporated (NYSE: GLW) for $18.50 per share.
Top Industrial Conglomerate Companies To Invest In Right Now: TheStreet, Inc.(TST)
TheStreet, Inc., a digital financial media company, provides business and financial news, investing ideas, and analysis to personal and institutional investors worldwide. The company engages in the online publishing of business and investment information through TheStreet, a paid subscription financial news and commentary Website. Its collection of digital services provides various content and tools for users, subscribers, and advertisers through a range of online, social media, tablet, and mobile channels. The companys subscription products include RealMoney, RealMoney Pro, Options Profits, Actions Alerts PLUS, TheStreet Quant Ratings, and Stocks Under $10, which are designed to address the needs of investors with various areas of interest, including fledgling investors, consumers interested in personal finance guidance, long-term and short-term active investors, and day and swing traders, as well as fundamental, technical, and options traders. Its RateWatch business publishes bank rate market information on a subscription basis to financial institutions and government agencies; and product line includes banking-related product and fee comparisons, financial strength reporting, educational webinars, mystery shopping, and consumer and financial institution surveys. In addition, the company operates a digital subscription platform that delivers coverage of the mergers and acquisitions environment primarily through The Deal Pipeline, a transactional information service provider. Further, it is involved in the syndication and licensing of data from TheStreet Ratings, which tracks the risk-adjusted performance of mutual funds and exchange-traded funds, as well as stocks; and operation of advertising-supported properties comprising TheStreet, MainStreet, Stockpickr, and Real Money. TheStreet, Inc. was founded in 1996 and is based in New York, New York.
- [By Steven Goldberg]
Launched in August 2001, Action Alerts PLUS Portfolio has been a centerpiece of the financial advice offered by TheStreet.com. The website belongs to TheStreet, Inc. (TST), a publicly traded company that Cramer co-founded in 1996. PLUS Portfolio subscribers, who pay $15 a month, always get the recommendations before Cramer buys them for the portfolio, the Wharton paper reports. Likewise, subscribers get Cramers picks before he airs them on Mad Money.
Top 10 Construction Companies To Watch In Right Now: Endeavour Silver Corporation(EXK)
Endeavour Silver Corp., a mid-tier precious metals mining company, engages in acquisition, exploration, development, extraction, processing, refining, and reclamation of mining properties in Mexico and Chile. The company primarily explores for silver and gold deposits. It holds interest in the Guanacev铆 mine in the Durango state; and the Bola帽itos and El Cubo mines in the Guanajuato state of Mexico. It also owns interests in various exploration properties, including the Guadalupe y Calvo and Parral projects in Chihuahua, Mexico; the Terronera project in Jalisco, Mexico; and the Lourdes locate in Guanajuato state of Mexico. In addition, Endeavour Silver Corp. has options to acquire a 51% interest in the Panuco exploration property in Durango, Mexico; and purchase a 75% interest in the El Inca properties located in Chile. The company was formerly known as Endeavour Gold Corp. and changed its name to Endeavour Silver Corp. in S eptember 2004. Endeavour Silver Corp. was founded in 1981 and is headquartered in Vancouver, Canada.
- [By Lisa Levin]
On Monday, basic materials shares surged by 1.1 percent. Top gainers in the sector included Cliffs Natural Resources Inc (NYSE: CLF) and Endeavour Silver Corp (NYSE: EXK).
Top 10 Construction Companies To Watch In Right Now: Compass Minerals Intl Inc(CMP)
Compass Minerals International, Inc., through its subsidiaries, produces and markets inorganic mineral products primarily in North America and the United Kingdom. The company operates in two segments, Salt and Specialty Fertilizer. The Salt segment produces salt and magnesium chloride for use in road deicing and dust control, food processing, water softeners, pool salt, and agricultural and industrial applications. This segment also purchases potassium chloride and sells as a finished product. The Specialty Fertilizer segment produces and markets sulphate of potash crop nutrients and industrial grade sulfate of potash for use in the production of specialty fertilizers for vegetables, fruits, potatoes, nuts, tobacco, and turf grass. The company also produces and markets consumer deicing and water conditioning products, ingredients used in consumer and commercial food preparation, and other mineral-based products for consumer, agricultural, and industrial applications. In ad dition, Compass Minerals provides records management services to businesses located in the U.K. The company operates rock salt mines in Goderich, Ontario, Canada; and Winsford, Chesire, the United Kingdom. It primarily serves producers of intermediate chemical products used in the production of vinyls and other chemicals, and pulp and paper, as well as water treatment and other industrial uses. The company markets its products through direct sales personnel, contract personnel, and a network of brokers or manufacturers? representatives. Compass Minerals International, Inc., formerly known as Salt Holdings Corporation, was founded in 1993 and is headquartered in Overland Park, Kansas.
- [By Monica Gerson]
Compass Minerals International, Inc. (NYSE: CMP) is projected to post its quarterly earnings at $1.33 per share on revenue of $347.03 million.
MKS Instruments, Inc. (NASDAQ: MKSI) is estimated to post its quarterly earnings at $0.33 per share on revenue of $177.19 million.
Top 10 Construction Companies To Watch In Right Now: Bank Of Montreal(BMO)
Bank of Montreal provides diversified financial services primarily in North America. The companys personal banking products and services include chequing and savings accounts, credit cards, mortgages, creditor insurance, and financial and investment advice; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers. It also offers wealth management products and services, such as investment and wealth advisory services; online investing services; financial services and solutions to high net worth and ultra-high net worth clients; and investment management, and trust and custody services to institutional, retail, and high net worth investors. In addition, the company provides life insurance, accident and sickness insurance, and annuity products to brokers and individuals, as well as reinsurance solutions. Further, it offers investment and corporate banking services, including clients debt and equity capital-raising services, as well as loan origination and syndication, balance sheet management solutions, and treasury management services; strategic advice on mergers and acquisitions, restructurings, and recapitalizations, as well as valuation and fairness opinions; and trade finance, risk mitigation, and other operating services. Additionally, the company provides trading products comprising research and access to global markets for institutional, corporate, and retail clients; new product development and origination services, as well as risk management advice and services to hedge against fluctuations; and funding and liquidity management services to its clients. It operates approximately 1,500 bank branches. Bank of Montreal was founded in 1817 and is headquartered in Montreal, C anada.
- [By Monica Gerson]
Bank of Montreal (USA) (NYSE: BMO) is expected to report its quarterly earnings at $1.76 per share on revenue of $5.02 billion.
EVINE Live Inc (NASDAQ: EVLV) is projected to report a quarterly loss at $0.10 per share on revenue of $162.13 million.
Top 10 Construction Companies To Watch In Right Now: Semtech Corporation(SMTC)
Semtech Corporation, together with its subsidiaries, designs, produces, and markets analog and mixed-signal semiconductor products. The company?s product lines include protection products comprising filter and termination devices that provide protection for electronic systems from voltage spikes; power management products consisting of switching voltage regulators, combination switching and linear regulators, smart regulators, and charge pumps; and discrete semiconductor products, such as rectifiers, assemblies, and other products. It also offers wired communication, ultra-high speed Serializer/Deserializer, and modulator driver products that perform timing, synchronization, and amplification functions in high-speed networks; chips and transceivers for short reach, metro, and long haul applications; and high performance transceivers for datacenter applications. In addition, the company provides wireless and sensing products that perform radio frequency functions in indust rial, medical, and networking applications; and sensing functions in industrial and consumer applications. It serves original equipment manufacturers and their subcontractors in the computing, communications, consumer, and industrial end-markets directly, and through independent distributors and sales representative firms in North America, the Asia Pacific, and Europe. Semtech Corporation was founded in 1960 and is headquartered in Camarillo, California.
- [By Monica Gerson]
Semtech Corporation (NASDAQ: SMTC) is projected to post its quarterly earnings at $0.27 per share on revenue of $128.38 million.
Ollie’s Bargain Outlet Holdings Inc (NASDAQ: OLLI) is estimated to post its quarterly earnings at $0.17 per share on revenue of $190.44 million.
Top 10 Construction Companies To Watch In Right Now: China Automotive Systems, Inc.(CAAS)
China Automotive Systems, Inc., (China Automotive), incorporated on June 23, 1999, is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry. Genesis also owns interests in a Brazil-based trading company, which engages mainly in the import and sales of automotive parts in Brazil. Henglong USA Corporation (HLUSA), which is a subsidiary of the Company, engages in marketing of automotive parts in North America, and provides after sales service and research and development support. The Company’s geographical segments include the United States, China and other foreign countries.
The Company’s subsidiary, Shenyang Jinbei Henglong Automotive Steering System Co., Ltd., focuses on power steering parts for light duty vehicles; Jingzhou Henglong Automotive Parts Co., Ltd. engages in the production of rack and pinion power steering gears for cars and light-duty vehicles; Shashi Jiulong Power Steering Gears Co., Ltd. mainly engages in the production of integral power steering gears for heavy-duty vehicles; Universal Sensor Application Inc. engages in the production and sales of sensor modules; Hubei Henglong Automotive System Group Co., Ltd engages in the production and sales of automotive steering systems; Chongqing Henglong Hongyan Automotive System Co., Ltd designs, develops and manufactures both hydraulic and electric power steering systems and parts; CAAS Brazil’s Imports And Trade In Automotive Parts Ltd. engages in the design, development and manufacture of both hydraulic and electric power steering systems and parts, and Fujian Qiaolong Special Purpose Vehicle Co., Ltd. manufactures and distributes drainage and rescue vehicles with mass flow, drainage vehicles with v ertical downhole operation, crawler-type mobile pump station! s, high-altitude water supply and discharge drainage vehicles, long-range control crawler-type mobile pump stations and other vehicles. Its Wuhan Chuguanjie Automotive Science and Technology Ltd. engages in research and development, manufacture and sales of automobile electronic systems and parts.
The Company competes with SAIC, ZF Germany, First Auto Group, Koyo Company and Nexteer.
- [By Monica Gerson]
China Automotive Systems, Inc. (NASDAQ: CAAS) is projected to post its quarterly earnings at $0.20 per share on revenue of $108.22 million.
Affimed NV (NASDAQ: AFMD) is projected to post a quarterly loss at $0.18 per share on revenue of $1.71 million.
Top 10 Construction Companies To Watch In Right Now: Capstead Mortgage Corporation(CMO)
Capstead Mortgage Corporation operates as real estate investment trust (REIT) in the United States. It invests in a portfolio of residential mortgage pass-through securities primarily consisting of short-duration adjustable-rate mortgage securities issued and guaranteed by government-sponsored enterprises, or by an agency of the federal government. The company qualifies as a REIT for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1985 and is headquartered in Dallas, Texas.
- [By Amanda Alix]
As the spread between short-term and long-terminterest rates began to contract, strangling profits, competition for MBSes also caused prices to rise. Other agency mREITs were nervous, too. CYS Investments (NYSE: CYS ) noted at the time that QE3 turned the Federal Reserve into the sector’s biggest rival for mortgage bonds, and as spreads began to shrink, so did dividends. By December of last year, Annaly, Armour, and Capstead Mortgage (NYSE: CMO ) had all trimmed their payouts.
Top 10 Construction Companies To Watch In Right Now: CGG(CGG)
CGG SA (CGG), incorporated on March 30, 1984, is a manufacturer of geophysical equipment. The Company is a provider of marine, land and airborne data acquisition services. The Company is a provider of a range of other geoscience services, including data imaging, seismic data characterization, geoscience and petroleum engineering consulting services, and collecting, developing and licensing geological data. The Company’s clients include independent, international and national oil companies. The Company’s business lines include Equipment, Marine Acquisition, Land Acquisition, Multi-Physics, Multi-Client and New Ventures, Subsurface Imaging, GeoSoftware and GeoConsulting. The Company operates through four segments: Contractual Data Acquisition; Geology, Geophysics & Reservoir (GGR); Equipment, and Non-Operated Resources. The Contractual Data Acquisition includes marine, and land and multi-physics. The GGR segment includes the Multi-client business line (development and manage ment of seismic surveys that it undertakes and licenses to a range of clients on a non-exclusive basis) and the Subsurface Imaging and Reservoir business lines (processing and imaging of geophysical data, reservoir characterization, geophysical consulting and software services, geological data library and data management solutions). The Equipment segment consists of its manufacturing and sales activities for seismic equipment used for data acquisition, both on land and marine. The Non-Operated Resources segment consists of the costs of the non-operated marine resources, as well as all the costs of its Transformation Plan.
The Company’s Contractual Data Acquisition activity includes its geophysical acquisition services offering, including land, marine, airborne and seabed. The Company provides a range of marine seismic two dimension (2D) and three dimension (3D) services, focusing on the Gulf of Mexico, the North Sea, West Africa and Brazil, as well as the Asia P acific region. The Company also delivers marine seismic cont! ract data acquisition in frontier areas. The Company operates a fleet of over eight 3D high capacity vessels, a source vessels and a 3D/2D vessel of lower capacity. Its Oceanic Sirius, Oceanic Vega, Geo Caspian, Oceanic Endeavour, CGG Alize, Oceanic Champion, Viking Vision and Geo Celtic, can deploy approximately 10 streamers simultaneously. Its 3D high capacity vessels include Sentinel solid streamers, which provide acquiring surveys in tougher sea conditions, managing the frequency content and signal-to-noise ratio of the recorded data. The Company’s vessels deploy BroadSeis, which is its broadband marine solution.
The Company’s Land Data Acquisition business line is principally focused on the acquisition and onsite processing of seismic data acquired on land areas. The Multi-Physics business line acquisition is principally focused on the acquisition, processing and interpretation of airborne geophysical data on land or offshore, across the world, and on provi ding marine gravity and magnetic acquisition services onboard seismic vessels or independently, as well as the processing and interpretation of such data. Its activities are conducted out of operational centers located in Canada, Brazil, South Africa and Australia. Airborne activity includes the collection, processing and interpretation of data related to the earth’s surface and the soils and rocks beneath, and provides advice based on the results to clients in the mineral, oil and gas, governmental, engineering and environmental management sectors. It acquires electromagnetic, magnetic, radiometric and gravity data using fixed-wing airplanes and helicopter platforms. The Company also provides in-house acquisition and data processing of marine gravity and bathymetry in conjunction with seismic surveys or on a stand-alone basis. It also offers advanced geophysical data processing, interpretation and consulting services in order to provide integrated services for its natural r esource sector clients.
The Company’s GGR segme! nt engage! s in the activities assisting its clients in identifying their exploration targets and characterizing their reservoirs. The Company is engaged in developing and licensing multi-client seismic surveys; processing seismic data; selling seismic data processing and reservoir characterization software (under the geovation, Hampson-Russell, Jason, Insight Earth and Velpro brands); providing geoscience and petroleum engineering consulting services; collecting, developing and licensing geological data, and providing data management services and software to its clients. The Data Management Services (DMS) is a global business providing individual and integrated services in all areas of data asset management and data transformation to clients in or associated with the petroleum business, such as agencies maintaining government petroleum data repositories. The Multi-Client and New Ventures (MCNV) business line utilizes the resources of its other business lines, as well as those of sub-c ontractors to acquire and process seismic data for itself and license that data to its clients. Subsurface Imaging and Reservoir (SIR) conducts its seismic imaging operations out of over seven international centers located in Houston (the United States), Crawley (England), Massy (France), Singapore, Rio (Brazil), Oslo (Norway) and Calgary (Canada) and from over 20 regional and local centers. SIR also sells seismic data processing software, under the geovation brand and sells software for reservoir characterization, interpretation and modeling under the Hampson-Russell, Jason, Insight Earth and Velpro brands.
The Company conducts its equipment development and production operations through Sercel S.A. (Sercel) and its subsidiaries. Sercel is engaged in the development and production of seismic equipment in the land and marine seismic markets. Sercel sells its equipment and offers customer support services, including training across the world. It relates to a range of geophysical equipment for seismic data acquisition, incl! uding sei! smic recording equipment, software and seismic sources either for land (vibrators) or for marine (air guns). Sercel also supplies its clients with integrated solutions. The Company’s product, 428XL, is approximately 400 product series. Its products also include 508XT. Sercel also offers vibroseismic vehicles used as seismic source in land and for vibrator electronic systems VE 464.
The Company competes with PGS, WesternGeco, Polarcus, BGP, Sinopec, Geokinetics, WesternGeco, Global Geophysical Services, Fairfield, TGS, Geospace Technologies Corporation and Ion Geophysical Inc.
- [By Jonas Elmerraji]
First up is French oil service firm CGG Veritas (CGG)
. The Eurozone-based energy stock hasn’t exactly posted blockbuster performance in 2013, but investors who ignore CGG for the final stretch of the year could be making a big mistake. That’s because of a bullish technical pattern that’s emerging in shares right now.
CGG spent most of the last eight months looking anything but bullish. But an ascending triangle pattern is changing that. The pattern is formed by horizontal resistance to the upside at $26, and uptrending support to the below shares. Basically, as CGG bounces in between those two technical levels, it’s getting squeezed closer and closer to a breakout above $26. When that happens, traders have a buy signal.
The ascending triangle pattern in CGG Veritas isn’t exactly textbook. That’s because the setup is forming at the bottom of a downtrend, rather than in the middle of an uptrend but it’s a mistake to get caught up on the textbook pictures of what trading patterns are supposed to look like. On a move through $26, the trading implications are just as actionable.