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H&R Block Inc. (HRB)
F1Q2011 Earnings Call Transcript
September 2, 2010 4:30 pm ETComplete Story »

Quiksilver, Inc. (ZQK)
F3Q2010 Earnings Call Transcript
September 2, 2010 4:30 pm ETComplete Story »

Hickey and Walters (Bespoke) submit:
The Russell 3,000 makes up about 98% of the US equity market, and below we highlight the stocks in the index that are up the most so far in 2010. These names are all up 100% or more year to date. With a third of the year left, Wabash National (WNC) holds onto the top spot with a gain of 265.08%. Somaxon Pharmaceutical (SOMX) ranks second at 253.70%, while Applied Energetics (AERG), IDT Corp (IDT), Acme Packet (APKT) and Isilon Systems (ISLN) are the rest of the names with YTD gains of more than 200%. The most recognizable name on this list is probably NetFlix (NFLX), which is currently up 150.32% in 2010. A few other noteworthy stocks on the list of big winners include Crocs (CROX), 3PAR (PAR), MBIA (MBI), OpenTable (OPEN), and Las Vegas Sands (LVS). It will be interesting to see how much this list changes by the end of the year.click to enlargeComplete Story »

Jason Farkas submits:As the U.S. dollar approaches an important bottom and U.S. stocks appear to be near a pivotal top, we here at EWI are prepared for trend changes. But most investors will be caught off guard, as there doesn’t appear to be any fundamental rationale for markets to turn now. So we’ve highlighted a few items that are likely to become front-page news after the next wave of decline has begun. Most prognosticators and Monday-morning quarterbacks will blame the decline on events like these, but, in reality, markets make the news (not the other way around). Future Headline: Euro Weakens on Belgians’ Waffling Current clues: The three regions of Belgium are seeing increasing tension that may lead to a break-up. What would happen to its sovereign debt obligations, which stand at 100% of GDP, should the language-divided country splinter? Keep in mind that this country is larger than Greece in terms of its share of global GDP (.8% versus .6%).Complete Story »

Bondsquawk submits: By Rom BadillaStocks continued to rise for a second day and Treasuries fell after pending sales of used homes and retail data came in better than expected. Investors bid up equities and sold Treasuries as they await Friday’s job data, which if disappointing can cause the markets to shed its gains since yesterday. The euro ended slightly stronger while government bonds in European countries were mixed after ECB’s press conference earlier today.Complete Story »

Frederic Ruffy submits: SentimentMajor averages are holding modest gains ahead of employment numbers Friday morning. Economic data drove the morning action after the Labor Department said that filings for jobless benefits fell by 6,000 last week and a bit more than economists had expected. Separate data, on second quarter productivity and July factory orders, was in-line with expectations. However, the latest pending home sales showed a surprise increase of 5.3 percent in July. Economists were looking for no change. After a 255-point rally Wednesday, the data was enough to keep the bullish momentum alive and now the Dow Jones Industrial Average is up 20 points heading into the final hour. Trading is slow, with about 4.7 million calls and 3.9 million puts traded. Volume will pick up early Friday in reaction to the jobs data, and then slow to a crawl tomorrow afternoon heading into the three-day Labor Day weekend.Bullish FlowBullish flow detected in Anadarko Petroleum (APC), with 23,850 calls trading, or 2x the recent average daily call volume in the name. Shares are up $1.81 to $50.50 after The Australian published a story saying that APC is on BHP’s (BHP) radar screen as a possible acquisition target: "A senior figure in the global energy industry is convinced that the 'second target' for BHP is Anadarko Petroleum Corporation, telling The Australian he believed the US oil and gas independent was firmly on BHP’s radar. BHP declined to comment for this article." In options action, the focus is on APC Sep 50, 52.5 and 55 calls. Nov 55 calls are among the most actives as well.Complete Story »

Marc Chandler submits:Many had expected the BOJ to have intervened already and its absence raises the question of why haven't they. The simplest explanation is they don't think it would be effective. This is the meaning of the official comments that say that the real issue is dollar weakness not yen strength. But some do not find the straight forward explanation very satisfying.A news wire now cited three "unnamed sources" suggesting that US opposition to intervention is preventing unilateral BOJ intervention. Really ? This seems to exaggerated the US influence over Japan. The US did not seem to look at the massive BOJ intervention in late 2003 and early 2004 favorably, yet it took place. That is to say if the political will was stronger, US distaste/objections to intervention would be overcome. The yen's rise is not simply against the dollar, as the performance of euro-yen clearly illustrates. The yen has appreciated by about 10.5% against the dollar this year and about 21% against euro. Since the end of Q1, the yen has appreciated by around 14% on a trade-weighted basis and 40% in the past two years.Ozawa, who is challenging Kan in the DPJ leadership contest toward the middle of the month has been arguing in favor of intervention. But when he was cabinet secretary (until recently) he reportedly was not pressing this. In any event, polls show Kan clearly ahead.Complete Story »

Frank Holmes submits:Wednesday kicked off what has historically been the strongest period (September through December) of the year for mining stocks and gold. We discussed this back in August (Ready, Set, Gold!) but if you were out enjoying a family vacation, don’t worry you probably haven’t missed the opportunity.Research from Barry Cooper at CIBC shows that while gold has historically performed well in September—prices have risen 81% of the time over the past 20 years—those investors who held their investment through the end of the year reaped the most benefits.Complete Story »

Layne Christensen Company (LAYN)
F2Q2011 Earnings Call Transcript
September 2, 2010 11:00 am ETComplete Story »

Hovnanian Enterprises, Inc. (HOV)
F3Q2010 Earnings Call Transcript
September 2, 2010 11:00 am ETComplete Story »

Zacks.com submits:
International Business Machines Corp. (IBM) announced the availability of world’s fastest microprocessor that will begin shipping to customers from Sep 10, 2010. The z196 processor is a four-core chip that contains 1.4 billion transistors on a 512-square milimeter (mm) surface. The chip was manufactured by using 45 nanometer (nm) silicon on insulator (SOI) processor technologies. Complete Story »

Wall Street Strategies submits:By David SilverGoing into August's auto sales results, we knew there would be a decline from last year as August 2009 was benefited from the cash for clunkers program. With that in mind, it wasn't as bad as some articles were predicting. One of the headlines include "the worst month for auto sales in 28 years." First thing is it was a stat for the month of August, not any month of the year. That fine print took many by surprise. If you remember back to May, June, and July of last year, the industry seasonally adjusted annual rate of sales (SAAR) was below 10.0 million units, the lowest was 9.2 million. The figure for August 2010 didn't really approach that Armageddon level, but it was one of the worst August's (adjusting for population growth) since World War II. I honestly had hoped we had passed the post WWII comparisons, but apparently not. There were 997,468 sales which equates to approximately an industry SAAR of 11.7 million units.Complete Story »

Zacks.com submits:
G-III Apparel Group Ltd. (GIII) swung to a net income of $3.0 million or 15 cents per share in the second quarter of fiscal 2011 from a net loss of $2.8 million or 17 cents per share in the year-ago period. Quarterly result also surged past the Zacks Consensus Estimate for a loss of 2 cents per share. Bolstered by the strong quarterly performance, G-III Apparel also lifted its fiscal 2011 earnings forecast. The company now expects earnings of $2.60 to $2.70 per share in the fiscal, compared to the earlier guidance of $2.20 and $2.30 per share. The Zacks Consensus Estimate for fiscal 2011 is currently pegged at $2.65 per share. Complete Story »

Zacks.com submits:
Martek Biosciences Corporation’s (MATK) third-quarter fiscal 2010 earnings (excluding special items) of 38 cents per share surpassed the Zacks Consensus Estimate by 2 cents and the year-ago earnings by 11 cents. On a reported basis (including special items), the company earned 35 cents per share in the reported quarter as against 27 cents in the year-ago quarter. The higher earnings in the reported quarter were driven by a surge in sales. Sales in the quarter benefited from the purchase of Amerifit Brands in February this year coupled with a rise in nutritional ingredient sales. Complete Story »

Zacks.com submits:
Ireland-based advertising titan WPP Group plc. (WPPGY) reported encouraging results for the first half of 2010. Its results were driven by strength across all geographies except for a modest decline in the European region. Expectations of revenue outperformance for the rest of 2010 are to some extent offset by worries over the Eurozone crisis and sustainability of US growth. Earnings Review The company’s diluted pro forma earnings per share in the reported period soared 48.1% to ₤0.191 ($1.46 per ADR) compared with ₤0.129 ($0.96 per ADR) in the year-ago period. Net income (pro forma) attributable to equity holders in the first half were ₤239.7 million ($366.7 million) compared with a net loss of ₤743.0 million ($1,107.1 million) in the comparable period of 2009. The company’s reported revenue of ₤4,440.9 million ($6,794.6 million) was up 3.5% compared with the year-ago period and up 2.7% on a constant currency basis due to the strength in pound sterling versus the US dollar and euro. Excluding the impact of acquisitions and currency fluctuations, revenue was up 2.5% in the reported period. Exiting the first half of 2010, WPP Group had cash and short-term deposits of ₤1,103.6 million ($1,666.4 million) and bonds and bank loans of ₤3,980.8 million ($6,011.0 million). Detailed discussion on the earnings release can be found here: WPPGY’s Interim Results Agreement of Analysts As can be observed from the table below, sentiments for WPP Group, subsequent to the release of its first half 2010 financial results, were positive. Out of the 8 analysts, there were 2 positive revisions of EPS estimate for 2010 and 2011 in the last 7 days. The estimate revisions are primarily driven by strong performance in the reported period and management’s outlook for the second half of 2010. Analysts have increased their organic growth forecasts for the second half compared with their previous expectations. However, fears over the US growth sustainability and impact from the Eurozone crisis restricted the positive momentum as is evident from the magnitude of these revisions. Magnitude of Estimate Revisions In the last 7 days, EPS estimate for 2010 soared from $3.87 to $3.92 and for 2011, from $4.30 to $4.37. The current Zacks estimate for 2010 and 2011 represents year-over-year growth of 42.41% and 11.68%, respectively. Neutral Recommendation The company together with its subsidiaries provides advertising and communications services worldwide. It operates in a highly competitive industry having business worldwide with significant exposure in US markets. Skepticism over the sustainability of US growth and the possible impact of the Eurozone debt crisis on the European results remain prime causes of concern. However, WPP’s encouraging results in the first half 2010 with net results rising 48% year over year, and management’s optimistic outlook for the second half are encouraging. Moreover, the company remains focused on new markets, new media and consumer insights. It enjoys a dominant market share in many areas and has the pricing power to improve margins and sustain future profit growth. We currently rate the stock with a Neutral recommendation. Complete Story »

Wall Street Strategies submits:By Brian SozziThe market held valid concerns about Guess' (GES) fundamentals prior to the issuance of 2Q10 results. Not only has the company's sales and margin outperformance relative to consensus forecasts slowed, but back on the 1Q10 earnings call in May it was obvious management was tempering the potential outcomes for FY10. Toss in retail sector trends that have lacked bravado (slowing sales, slowing mall traffic, increased discounting, elevated inventories) and it's but little wonder that Guess shares have been on the chopping block since late April. Now trading on a forward year P/E multiple of 9.9x, the lowest dating back to the January 2009 ended quarter, and near the bottom end of our specialty retail sector average (stock also yields 2%), Guess shares are a sexy investment for a long-term minded investor.Complete Story »

Jim Van Meerten submits: This morning I added PowerShares DB Gold Fund (DGP) to the Barchart Van Meerten New High portfolio purely for technical reasons. The ETF is based on the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return and managed by DB Commodity Services LLC. The Index is a rules-based index composed of futures contracts on gold and is intended to reflect the performance of gold. Again this is purely for technical reasons.The points I considered are:Complete Story »

Methode Electronics, Inc. (MEI)
F1Q2011 Earnings Call Transcript
September 2, 2010 11:00 am ETComplete Story »

Wealth Daily submits:By Christian DeHaemerIt's time to stop the whining on housing, jobs, and banks. If you don't like the current state of affairs in Washington and the politicians' cozy relationship with Wall Street — then vote the bums out. If you don't like the way the fiscal picture has shaped up — then stop believing the banksters and find a better place to invest.Complete Story »

Hickey and Walters (Bespoke) submit:
Ahead of tomorrow's employment report we wanted to highlight some interesting trends ahead of the release.The first chart below highlights the average magnitude of the surprise in non farm payrolls (NFP) relative to expectations for each month of the year. For this chart, we took the absolute average of the difference between the actual and estimated change in NFP for each month since 1998. As shown in the chart, reports in September (for month of August) are actually where economists have been closest to estimating the actual change in NFP. On average, economists either under or overestimate the actual number by 46K. The next closest month is November (for month of October) where the average margin of error is 58K. October has historically been the worst month for economists in predicting the change in NFP for the prior month. The consensus forecast for reports released in the month of October are typically 80K above or below the actual reported number. (Click to enlarge)Complete Story »