(Source: Business Wire)
Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: AMB Property Corp. (NYSE: AMB), Charlotte Russe Holdings, Inc. (NASDAQ: CHIC), Arch Coal (NYSE: ACI), Burlington Northern Santa Fe Corporation (NYSE: BNI) and Coca-Cola Hellenic Bottling Company S.A. (NYSE: CCH).
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Here are highlights from Monday's Analyst Blog:
AMB Ppy Announces Impairments
AMB Property Corp. (NYSE: AMB) today announced large impairment charges on its in-process development pipeline and land holdings. The company will take a $0.96 per share charge in 4Q08 to write down the value of in process developments and a $0.94 per share impairment on land holdings.
In addition, the company will lay off about 22% of its global workforce. AMB depends on merchant building sales to third parties or funds which have historically made up a large part of the company's earnings. Cap-rate increases have decreased the value of the company's current development pipeline.
Charlotte Russe Ests Lowered
Charlotte Russe Holdings, Inc. (NASDAQ: CHIC) is a mall-based specialty apparel retailer, which carries both branded and private-label merchandise, targeting women in their teens and twenties. The retailer offers a broad assortment of fashionable merchandise.
The company reported weaker-than-expected results for its fiscal first quarter, and CHIC's second quarter EPS guidance was below the market's expectations. We are lowering our estimates for fiscal 2009 and 2010. The company also announced that it was exploring strategic alternatives including selling the company.
Arch Coal Rating Downed to Hold
We are downgrading our recommendation on Arch Coal (NYSE: ACI) to Hold from Buy before the company releases its 4Q and full-year '08 results. Although coal prices have outperformed other commodities like steel, copper and oil, there looks to be no upside catalyst in the next six months for the industry and a result, ACI will likely trade flat during 1H'09.
As the effects of global monetary and fiscal stimulatory efforts work their way into Wall Street and Main Street, it will be more apparent as to the direction of the global economy. However, we do anticipate emerging markets to start recovering late in '09, which would spur new demand for electricity and steel, driving coal stocks higher.
