Dillards (DDS) fell more than 5% during after-hours trading, joining the list of retailers being done in by disappointing fiscal first quarter financial results.
At $2.17 a share, first quarter earnings fell more than expected, coming in 40 cents below the Capital IQ consensus of $2.57. Net revenue (which includes Dillards construction business) fell 4.5% to $1.5 billion, just missing the $1.55 billion consensus.
Merchandise sales declined 5% to just below $1.45 billion with same-store sales falling a like amount. Dillards operates 272 Dillard’s locations and 24 clearance centers spanning 29 states.
Heres what CEO William T. Dillard, II had to say:
Our disappointing sales pressured our gross margin and net income performance, although inventory was relatively flat at quarter end. While we controlled expenses, sales leverage was difficult to achieve. We continued to return value to shareholders by purchasing $58.4 million of our Class A Common Stock during the quarter.
Top Industrial Disributor Stocks For 2016: United States Cellular Corporation(USM)
United States Cellular Corporation operates as a wireless telecommunications service provider in the United States. The company offers wireless voice and data services to retail consumer and business customers. It provides wireless services in postpaid service plans with voice, messaging, and data services; and prepaid service plans with minutes, messaging, and data services for a monthly fee. The company also offers various additional features, including caller ID blocking, call forwarding, voicemail, call waiting, and three-way calling; and data usage features consisting of Web browsing, email services, instant messaging, text messaging, and picture and video messaging. As of December 31, 2010, it provided wireless voice and data services to 6.1 million customers in 26 states. In addition, the company operates retail stores that sell a range of wireless devices, including handsets, modems, and tablets, as well as accessories, such as carrying cases, hands-free devices, b atteries, battery chargers, memory cards, and other items to consumers and small businesses. Further, it sells wireless devices to agents and other third-party distributors for resale; operates service facilities that provide servicing and repair for wireless devices; and enables customers to activate service and purchase wireless devices online. The company?s business customers include small-to-mid-size businesses in various industries, including construction, retail, professional services, and real estate. It offers its products and services through retail sales and service centers, direct sales, and independent agents. The company was founded in 1983 and is based in Chicago, Illinois. United States Cellular Corporation is a subsidiary of Telephone and Data Systems, Inc.
- [By Monica Gerson]
United States Cellular Corp (NYSE: USM) is projected to report its quarterly earnings at $0.26 per share on revenue of $975.54 million.
Koppers Holdings Inc. (NYSE: KOP) is estimated to report its quarterly earnings at $0.09 per share on revenue of $364.50 million.
Top Industrial Disributor Stocks For 2016: Euro/Yen(EJ)
E-House (China) Holdings Limited, through its subsidiaries, operates as a real estate services company in China. It provides primary real estate agency services, secondary real estate brokerage services, real estate information and consulting services, real estate advertising services, real estate promotional event services, real estate online services, and real estate investment fund management services. The company offers primary real estate agency services to real estate developers. Its secondary real estate brokerage services include offering advisory services on choices of properties; accompanying potential buyers on house viewing trips; drafting purchase contracts; negotiating price and other terms; and providing preliminary proof of title, as well as coordinating with the notary, the bank, and the title transfer agency. The company also provides real estate information services comprising data subscription services and data integration services; and real estate cons ulting services, including land acquisition consulting, development consulting, marketing consulting, and comprehensive solution consulting. In addition, it offers real estate advertising services consisting of advertising design and sales in print and other media; and real estate promotional event services, including securing venues, hiring caters and other various service providers, formulating event themes, and inviting speakers and guests for real estate promotional events. Further, the company provides real estate online services, including real estate news, information, property data, and access to online communities to real estate consumers and participants through local Web sites; and involves in real estate investment fund management activities that consist of investments in China?s real estate sector. E-House (China) Holdings Limited was founded in 2000 and is headquartered in Shanghai, the People?s Republic of China.
- [By Belinda Cao]
E-House China Holdings Ltd. (EJ), a real estate brokerage, gained 9.2 percent to $9.70, extending it advance to a third week. Its American depositary receipts retreated 3.1 percent Sept. 20 from the highest level since May 2011.
Top 5 Trucking Stocks For 2016: Honeywell International Inc.(HON)
Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment provides turbine propulsion engines, auxiliary power units, environmental control and electric power systems, engine systems and accessories, avionic systems, aircraft lighting, inertial sensors, control products, space products and subsystems, and landing products for aircraft manufacturers, airlines, business and general aviation, military, space, and airport operations, as well as offers management and technical, logistics, aircraft wheels and brakes and repair, and overhaul services. The company?s Automation and Control Solutions segment provides environmental and combustion controls, and sensing controls; security and life safety products and services; scanning and mobility products; process automation products and solutions; and building solutions and services for homes, buildings, and industrial facilities. Its Specialty Materials segment prov ides resins and chemicals; hydrofluoric acid; fluorocarbons; fluorine specialties; nuclear services; performance chemicals; chemical processing sealants; fibers and composites; specialty films and additives; imaging and electronic chemicals; semiconductor materials and services; catalysts, adsorbents, and specialties; and renewable fuels and chemicals. It offers these products for refining, petrochemical, automotive, healthcare, agricultural, packaging, refrigeration, appliance, housing, semiconductor, wax, and adhesives segments. This segment also provides process technology and equipment for the petroleum refining, and petrochemical and gas processing industries. The company?s Transportation Systems segment provides charge-air systems; thermal systems; filters, spark plugs, electronic components, and car care products; and brake hard parts and other friction materials for passenger cars and commercial vehicles. The company was founded in 1920 and is headquartered in Morri s Township, New Jersey.
- [By Ben Levisohn]
Deutsche Bank’s John Inch and Karen Lau argue that Honeywell International (HON) is “achieving Asian critical mass.” They explain:
After over a decade of aggressive and earnest Asian investment including seed planting and cultivation of local Asian talent, we believe Honeywell has emerged from behind other western countries in China and the rest of Asia to leading position across its served markets. Honeywell claims (and we believe it is true) that it has become the Chinese/Asian competitor that local rivals look to emulate. Honeywells profit margins in China are above the corporate averages across the companys businesses. Meanwhile, we learned that Honeywell is sometimes even the local price leader, such as for scanning and mobility products.
Within China, we estimate Honeywells sales to be closing in on $2.8bn (6-7% of company total), roughly flat last year (dragged last year by PMTs down results due to the collapse in oil prices and associated project deferral), up low to mid single-digits this year (ACS is running up double-digits YTD) and up double-digits next year (and beyond). As part of the $2.8bn, the company reportedly has realized ~$750mm in sales that it classifies as East for East (E4E) developed and produced almost entirely in local markets for local customers (i.e., ACS and turbo with some PMT product applications). We believe the $750mm to be a laudable achievement particularly given the rapid pace of change of Chinas economy over the past decade coupled with aggressive local competition. Honeywell retains #1/#2 positions across a swath of the markets it serves.
Honeywells achievement of Chinese critical mass opens lots of new doors for the company, in our opinion, including talent attraction/retention and new partnership opportunities. Many of these doors would appear to lead to accelerating future sales. The other prospective benefit of critical mass specifica
Top Industrial Disributor Stocks For 2016: Ubiquiti Networks, Inc.(UBNT)
Ubiquiti Networks, Inc. provides networking products and solutions for service providers and enterprises worldwide. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms offer wireless LAN infrastructure, video surveillance products, VOIP phones, switches, and machine-to-machine communication components. The companys products and solutions include high performance radios, antennas, software, communications protocols, and management tools designed to deliver carrier and enterprise class wireless broadband access and other services primarily in the unlicensed RF spectrum. It provides technology platforms, such as airMAX platform, which includes proprietary protocols that contain technologies for minimizing signal noise; EdgeMAX, a disruptive price-performance software and systems routing platform ; and airFiber, a point-to-point radio system. The company also offers UniFi Enterprise Wi-Fi System that includes Wi-Fi certified hardware with a software based management controller; UniFi Video H.264 megapixel IP cameras; and UniFi Video management software controller to manage multiple UniFi Video H.264 IP cameras and digital video recorder devices. In addition, it provides UniFi VOIP Phone, an enterprise desktop smartphone designed to integrate into the UniFi Enterprise System; UniFi Switches to deliver performance, switching, and PoE+ support for enterprise networks; and mFi, which includes hardware sensors, power devices, and management software that allows devices to be monitored and controlled remotely through Wi-Fi. Further, the company provides embedded radio products; and mounting brackets, cables, and power over Ethernet adapters. The company was formerly known as Pera Networks, Inc. and changed its name to Ubiquiti Networks, Inc. in 2005. Ubiquiti Networks, Inc . was incorporated in 2003 and is headquartered in San Jose,! California.
- [By Mani]
Ubiquiti Networks, Inc. (NASDAQ:UBNT) shares have been in rally mode, particularly since reporting strong quarterly results in August, gaining 57 percent. Over the past three months, shares have climbed nearly 100 percent versus a 9 percent gain in the NASDAQ.
- [By Jon C. Ogg]
Ubiquiti Networks Inc. (NASDAQ: UBNT) was given a cautious Neutral rating as well, and it had the least negative bias in Garcha’s call. He said:
Top Industrial Disributor Stocks For 2016: Phillips 66(PSX)
Phillips 66, incorporated on November 10, 2011, is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S).
The Company gathers, processes, transports and markets natural gas, and transports, fractionates and markets natural gas liquids (NGLs) in the United States. In addition, this segment also transports crude oil and other feedstocks to its refineries and other locations, and delivers refined and specialty products to market, and provides storage services for crude oil and petroleum products. The Midstream segment includes, among other businesses, the Company’s equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP. The Midstream segment consists of three business lines: Transportation, DCP Midstr eam and NGL.
The transportation business line transports crude oil and other feedstocks to its refineries and other locations, and delivers refined and specialty products to market, and provides storage services for crude oil and petroleum products. The operations of its master limited partnership, Phillips 66 Partners LP, are included in the transportation business line. The DCP Midstream business line gathers, processes, transports and markets natural gas, and transports, fractionates and markets NGL.
The Company owns or leases assets to provide delivery and storage of crude oil, refined products, natural gas and NGL. These assets include pipeline systems; petroleum product, crude oil and liquefied petroleum gas (LPG) terminals; a petroleum coke handling facility; marine vessels, and railcars and trucks. Its transportation business manages over 18,000 miles of crude oil, natural gas, NGL and petroleum products pipeline systems in the United States , including those partially owned or operated by affiliates.! The Company owns or operates over 40 finished product terminals, 40 storage locations, five LPG terminals, 20 crude oil terminals and one petroleum coke exporting facility. It has interest in Rockies Express Pipeline LLC (REX). The REX natural gas pipeline runs over 1,710 miles from Meeker, Colorado, to Clarington, Ohio, and has a natural gas transmission capacity of over 1.8 billion cubic feet per day (BCFD), with most of its system having a pipeline diameter of over 40 inches. The REX pipeline is designed to enable natural gas producers in the Rocky Mountain region to deliver natural gas supplies to the Midwest and eastern regions of the United States.
The Company owns a limited partner interest in Phillips 66 Partners, which is a master limited partnership formed to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum product and NGL pipelines and terminals, as well as other transportation and midstream assets. Phillips 66 Partn ers’ assets consist of crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States. Its vessels are used primarily to transport feedstocks or provide product transportation for certain of its refineries, including delivery of domestic crude oil to its Gulf Coast and East Coast refineries. Truck and rail operations support the Company’s feedstock and distribution operations. Rail movements are provided via a fleet of over 12,300 owned and leased railcars. Truck movements are provided through approximately 170 third-party truck companies, as well as through Sentinel Transportation LLC, in which the Company holds an equity interest.
Midstream segment includes the Company’s equity investment in DCP Midstream. DCP Midstream owns or operates over 64 natural gas processing facilities, with a net processing capacity of approximately 8.0 BCFD. DCP Midstream’s owned or operated natural gas pipeline systems include gath! ering ser! vices for these facilities, as well as natural gas transmission, and totaled approximately 68,000 miles of pipeline. DCP Midstream also owns or operates over 10 NGL fractionation plants, along with natural gas and NGL storage facilities, a propane wholesale marketing business and NGL pipeline assets. The residual natural gas, primarily methane, which results from processing raw natural gas, is sold by DCP Midstream at market-based prices to marketers and end users, including industrial companies, natural gas distribution companies and electric utilities.
The Company’s NGL business includes its equity interest in Gulf Coast Fractionators, which owns an NGL fractionation plant in Mont Belvieu, Texas. The Company has equity interest in a fractionation plant in Mont Belvieu, Texas, and its net share of capacity is over 30,250 barrels per day. The Company has equity interest in a fractionation plant in Conway, Kansas, and the Company’s net share of capacity is approx imately 43,200 barrels per day. It also has one-third interest in both the DCP Sand Hills and DCP Southern Hills pipeline entities, connecting Eagle Ford, Permian and Midcontinent production to the Mont Belvieu, Texas market.
The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its equity investment in Chevron Phillips Chemical Company LLC (CPChem). CPChem’s business is structured around two primary operating segments: Olefins and Polyolefins (O&P) and Specialties, Aromatics and Styrenics (SA&S). The O&P segment produces and markets ethylene and other olefin products; the ethylene produced is primarily consumed within CPChem for the production of polyethylene, normal alpha olefins and polyethylene pipe. The SA&S segment manufactures and markets aromatics products, such as benzene, styrene, paraxylene and cyclohexane, as well as polystyrene and styrene-butadiene copolymers. SA&S also m anufactures and/or markets a range of specialty chemical pro! ducts, in! cluding organosulfur chemicals, solvents, catalysts, drilling chemicals and mining chemicals. CPChem, including through its subsidiaries and equity affiliates, has manufacturing facilities located in Belgium, China, Colombia, Qatar, Saudi Arabia, Singapore, South Korea and the United States.
The refining segment buys, sells and refines crude oil and other feedstocks into petroleum products (such as gasolines, distillates and aviation fuels) at over 15 refineries, mainly in the United States and Europe. The Bayway Refinery is located on the New York Harbor in Linden, New Jersey. Bayway refining units include a fluid catalytic cracking unit, over two hydrodesulfurization units, a naphtha reformer, an alkylation unit and other processing equipment. The refinery produces a high percentage of transportation fuels, such as gasoline, diesel and jet fuel, as well as petrochemical feedstocks, residual fuel oil and home heating oil. The complex also includes an approximately 775-million-pound-per-year polypropylene plant.
The Humber Refinery is located on the east coast of England in North Lincolnshire, the United Kingdom. It produces a high percentage of transportation fuels, such as gasoline, diesel and jet fuels. Humber’s facilities encompass fluid catalytic cracking, thermal cracking and coking. This refinery has over two coking units with associated calcining plants, which upgrade the heaviest part of the crude barrel and imported feedstocks into light oil products and graphite and anode petroleum cokes. Approximately 60% of the light oils produced in this refinery are marketed in the United Kingdom, while the other products are exported to the rest of Europe, West Africa and the United States.
The Whitegate Refinery is located in Cork, Ireland. This refinery produces transportation fuels, such as gasoline, diesel and fuel oil, which are distributed to the inland market, as well as being e xported to international markets. The Mineraloelraffinerie O! berrhein ! GmbH (MiRO) refinery, located on the Rhine River in Karlsruhe in southwest Germany, is a joint venture in which the Company owns interest. Facilities include over three crude unit trains, fluid catalytic cracking, petroleum coking and calcining, hydrodesulfurization, naphtha reformer, isomerization, ethyl tert-butyl ether and alkylation units. MiRO also produces a high percentage of transportation fuels, such as gasoline and diesel fuels. Other products include petrochemical feedstocks, home heating oil, bitumen and anode- and fuel-grade petroleum coke. Refined products are delivered to customers in southwest Germany, northern Switzerland and western Austria by truck, railcar and barge.
The Alliance Refinery is located on the Mississippi River in Belle Chasse, Louisiana. The single-train facility includes fluid catalytic cracking units, alkylation, delayed coking, hydrodesulfurization units, a naphtha reformer and aromatics unit. Alliance produces a high percent age of transportation fuels, such as gasoline, diesel and jet fuels. Other products include petrochemical feedstocks, home heating oil and anode-grade petroleum coke.
The Lake Charles Refinery is located in Westlake, Louisiana. Its facilities include fluid catalytic cracking, hydrocracking, delayed coking and hydrodesulfurization units. The refinery produces a high percentage of transportation fuels, such as low-sulfur gasoline and off-road diesel, along with home heating oil. The majority of its refined products are distributed by truck, railcar, barge or major common carrier pipelines to customers in the southeastern and eastern United States. Refined products can also be sold into export markets through the refinery’s marine terminal. Refinery facilities also include a specialty coker and calciner, which produce graphite petroleum coke for the steel industry.
The Sweeny Refinery is located in Old Ocean, Texas, approximately 65 miles southwest of Houston. Refinery facilities include fluid catalytic crackin! g, delaye! d coking, alkylation, a naphtha reformer and hydrodesulfurization units. The refinery receives crude oil primarily via tankers, through wholly and jointly owned terminals on the Gulf Coast, including a deepwater terminal at Freeport, Texas. It produces a high percentage of transportation fuels, such as gasoline, diesel and jet fuels. Other products include petrochemical feedstocks, home heating oil and fuel-grade petroleum coke.
Merey Sweeny, L.P. (MSLP) owns a delayed coker and related facilities at the Sweeny Refinery. MSLP processes long residue, which is produced from heavy sour crude oil, for a processing fee. Fuel-grade petroleum coke is produced as a by-product and becomes the property of MSLP. The Company is the operator and managing partner of WRB Refining LP (WRB), which consists of the Wood River and Borger refineries. WRB’s gross processing capability of heavy Canadian or similar crudes ranges between 235,000 and 255,000 barrels per day. The Company’ s other refineries include Ponca City Refinery, Billings Refinery, Ferndale Refinery, Los Angeles Refinery and San Francisco Refinery.
Marketing and Specialties
The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines, distillates and aviation fuels), mainly in the United States and Europe. In addition, this segment includes the manufacturing and marketing of specialty products (such as base oils and lubricants), as well as power generation operations. The Company markets gasoline, diesel and aviation fuel through approximately 8,350 marketer-owned or -supplied outlets in over 50 states of the United States. Its wholesale operations utilize a network of marketers operating approximately 6,700 outlets. In addition, the Company holds brand-licensing agreements with approximately 800 sites. In addition to automotive gasoline and diesel, the Company produces and markets jet fuel and aviation ga soline, which is used by smaller piston-engine aircraft. Avi! ation gas! oline and jet fuel were sold through dealers and independent marketers at approximately 850 Phillips 66-branded locations in the United States.
The Company has marketing operations in over five European countries. The Company uses the JET brand name to market retail and wholesale products in Austria, Germany and the United Kingdom. In addition, a joint venture in which the Company has an equity interest markets products in Switzerland under the Coop brand name. The Company also markets aviation fuels, LPG, heating oils, transportation fuels, marine bunker fuels, bitumen and fuel coke specialty products to commercial customers and into the bulk or spot markets in Austria, Germany, the United Kingdom, Switzerland and Ireland. In addition, through its joint venture operations in Switzerland, the Company has interests in over 295 additional sites.
The Company manufactures and sells a range of specialty products, including petroleum coke products, waxes, solvents and polypropylene. It markets graphite and anode-grade petroleum cokes in the United States and Europe for use in the global steel and aluminum industries. It also markets polypropylene in North America under the COPYLENE brand name. The Company own an interest in Excel Paralubes, a joint venture, which owns a hydrocracked lubricant base oil manufacturing plant located adjacent to the Lake Charles Refinery. This facility produces approximately 22,000 barrels per day of hydrocracked base oils.
The Company manufactures and sells automotive, commercial and industrial lubricants, which are marketed under the Phillips 66, Conoco, 76 and Kendall brands, as well as other private label brands. It also markets Group II Pure Performance base oils globally, as well as import and market Group III Ultra-S base oils through an agreement with Korea’s S-Oil corporation. It has interests in Sweeny Cogeneration, L.P., which owns a cogeneration power plant located adjace nt to the Sweeny Refinery. The plant generates electricity a! nd provid! es process steam to the refinery, as well as merchant power into the Texas market. The plant has a net electrical output of approximately 440 megawatts and is capable of generating over 3.6 million pounds per hour of process steam.
- [By Ben Levisohn]
Berkshire’s QTD returns primarily reflected outperformance in technology and financials (International Business Machines (IBM), Moody’s (MCO), U.S. Bancorp (USB), and American Express (AXP)), partly offset by underperformance within energy, healthcare, and consumer-nondurables (Phillips 66 (PSX), Coca-Cola (KO), and DaVita HealthCare Partners (DVA)).
- [By Todd Shriber, ETF Professor]
Phillips 66 (NYSE: PSX) and Valero Energy Corporation (NYSE: VLO) combine for over 15 percent of CRAK's weight and are the ETF's top two holdings. The former is up more than 7 percent this year, while Valero is off 10.7 percent.
- [By Manikandan Raman]
Barclays has downgraded Phillips 66 (NYSE: PSX) to Equal Weight from Overweight and cut the price target to $86 from $93, citing limited upside in shares.
- [By Todd Shriber, ETF Professor]
Alright, so elevated short interest in a stock not a major factor in CRAK is not a big deal. Applying that logic, it is notable that short interest in Phillips 66 (NYSE: PSX), CRAK's largest holding at a weight of nearly 7.7 percent, remains elevated.
Top Industrial Disributor Stocks For 2016: Ctrip.com International, Ltd.(CTRP)
Ctrip.com International, Ltd., together with its subsidiaries, provides travel services for hotel accommodations, transportation ticketing services, packaged tours, and corporate travel management in the Peoples Republic of China. It also offers independent leisure travelers bundled packaged-tour products, including group tours, semi-group tours, and private tours or packaged tours with various transportation arrangements, such as cruise, bus, or self-driving. In addition, the company provides integrated transportation and accommodation services; various value-added services, including transportation at destinations and tickets, insurance, visa services, and tour guides; supplier management and customer relationship management services; and car rental services. Further, it offers Internet-related advertising, aviation and train insurance selling, air-ticket delivery, online check-in, and online seat selection and flight dyna mics services; and sells Property Management System, a hotel information software, as well as provides related maintenance services. Ctrip.com International, Ltd. was founded in 1999 and is headquartered in Shanghai, the Peoples Republic of China.
- [By Monica Gerson]
Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Friday's regular session.
Caterpillar Inc. (NYSE: CAT) Jan17 77.5 Calls Sweep: 1022 @ ASK $4.45: 1066 traded vs 2466 OI: Earnings 7/28 $75.88 Ref Anacor Pharmaceuticals Inc (NASDAQ: ANAC) Jan17 110 Calls: 500 @ Above Ask! $0.40: 509 traded vs 1860 OI: $99.22 Ref Ctrip.com International, Ltd. (ADR) (NASDAQ: CTRP) Jun16 41.25 Calls Sweep: 577 @ ASK $1.75: 649 traded vs 1927 OI: Earnings 6/15 After Close $40.54 Ref Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) Jun16 65.0 Calls Sweep: 749 @ ASK $1.85: 813 traded vs 370 OI: $63.08 Ref WhiteWave Foods Co (NYSE: WWAV) Oct16 50.0 Calls: 600 @ ASK $1.60: 601 traded vs 430 OI: $45.16 Ref
Posted-In: Unusual Put OptionsNews Options Markets
- [By Monica Gerson]
Ctrip.com International, Ltd. (ADR) (NASDAQ: CTRP) is estimated to post a quarterly loss at $0.09 per share on revenue of $2.81 billion.
Cheetah Mobile Inc (ADR) (NYSE: CMCM) is expected to report its quarterly earnings at $0.87 per share on revenue of $1.14 billion.