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Insider Buys And Sells: Weekly Wrap-up

Mon, 02 Nov 2009 19:39:37 GMT

For all the analysts and pundits in the financial media, there is still no better judge of a company's health and future prospects than the owners and executives of those companies themselves, along with major institutional shareholders.[More...]

Insider Buys And Sells: Weekly Wrap-up (10/5/2009)

Mon, 05 Oct 2009 16:12:58 GMT

Automotive Replacement & Accessories Continues To Be A Winning Theme

Wed, 01 Apr 2009 18:11:00 GMT

As the American consumer weakens, and in my estimation - shall remain weak for an extended duration - we put the spotlight on the Automotive Replacement & Accessories sector a few months back (Jan 15, 2009: Thesis - Automotive Replacement and Accessories) Since then, all four names we mentioned in the piece, even the major laggard of the group have surged despite a very bad January and February for the market. Autozone (AZO) [More...]

Signs of the Apocalyspe?

Wed, 04 Feb 2009 23:37:00 GMT

Macro Man is back in the saddle this morning and somewhat bemused to see that the world has gone China-recovery mad. Both the comment section of yesterday's post and his email inbox this morning are crammed full of observations about the bottoming of Chinese equities and the manufacturing PMI. While it factually true that both have bounced, Macro Man is withholding judgement. After all, the Shanghai composite is closer to its recent lows than the US homebuilders index, and he doesn't see anyone falling overthemselves to call a recovery in that industry. More importantly, we should all remember that things don't move in a straight line forever, and China has cranked up a large inrastructure stimulus. Indeed, there will be a period of improved growth in the US this year...just as there was last year. Looking[More...]

Thesis: Automotive Replacement and Accessories

Thu, 15 Jan 2009 14:02:00 GMT

I've been looking at this automotive replacement (and accessories) business for a while as a "Pooring of America" theme. This could be both a cyclical (recession) and indeed potentially secular (if American's start increasing their savings rates and not flip cars every 3 years) play. I have yet to pull the trigger but here are the charts of the main candidates on this thesis. I am quite familiar with these companies as I worked in a supplier who sold into these businesses early this decade. The top two have the better charts of the foursome... Market leader, "best in breed", run by Eddie Lampert - Autozone (AZO) - middle of pack valuation similar to growth rate [More...]

O'Reilly Auto Driving Through - Analyst Blog

Thu, 30 Oct 2008 18:59:00 GMT

O'Reilly Auto (ORLY) has an excellent growth strategy with an exposure to both do-it-yourself (DIY) and do-it-for-me (DIFM) segments of aftermarket industry. On October 29, 2008, O'Reilly Automotive Inc. reported third quarter results for 2008. Sales for the three months ended September 30, 2008, totaled $1.11 billion, up 68% from $0.66 billion for the same period a year ago. Net income for the third quarter ended September 30, 2008, totaled $41.4 million, down 22% from $53.1 million for the same period in 2007. Diluted earnings per common share for the third quarter of 2008 decreased 33% to $0.31 on 133.1 million shares compared to $0.46 for the third quarter of 2007 on 116.3 million shares. The company is continuously benefiting from its dual market strategy: strong distribution network and an unparalleled[More...]

Carbon Prices Withstand Commodity Downturn

Fri, 12 Sep 2008 04:43:00 GMT

During recent market turmoil and a meltdown in commodities, the Global Carbon ETN (GRN) has held up better than oil (USO) and natural gas (UNG), but fared slightly worse than the overall market as illustrated in the accompanying three-month chart. Key factors in the demand for carbon credits include overall power demand and the relationship between natural gas and coal prices since burning gas results in the release of less than half of the greenhouse emissions versus coal. Currently, the simplest way for power utilities to reduce greenhouse emissions is to convert from[More...]

Carbon Allowance Futures Commence Exchange-Based Trading in the US

Fri, 22 Aug 2008 04:33:00 GMT

The exchange-based trading of carbon allowances in the US is also underway over four months ahead of the official start of the Regional Greenhouse Gas Initiative (RGGI), which covers 10 states in the Northeast and Mid-Atlantic that have pledged to reduce 2010 greenhouse gas emissions to 10% below their 1990 levels. The RGGI states have put in place a regional cap-and-trade system to regulate CO2 emissions from power plants and the program is slated to officially begin on January 1, 2009. The Chicago Climate[More...]

A Global Carbon Trading Index

Mon, 18 Aug 2008 14:35:00 GMT

My Global Carbon Trading Index is designed to track public companies involved in the nascent industry of carbon credit generation and trading activities. Because this is an evolving industry, I expect to add new stocks to the index in the future to accurately track the performance of pure-play carbon credit companies -- just as the iPath Global Carbon ETN (GRN) specifies on its website that it will incorporate new financial derivatives for carbon prices as they become established as industry standards.The accompanying table[More...]

Carbon Trading Stock Index

Sun, 17 Aug 2008 17:47:00 GMT

The accompanying table presents the MikeHav Global Carbon Trading Stock Index along with tracking of related commodities and benchmark funds, including coal prices, iPath Global Carbon ETN (GRN), US Natural Gas Fund (UNG), US Oil Fund (USO), and Market Vectors Global Alternative Energy ETF (GEX). Key factors in the demand for carbon credits include overall power demand and the relationship between natural gas and coal prices since burning gas results in the release of less than half of the greenhouse gas emissions as compared to[More...]

Foes of Bank Closing Plan Strategy

Wed, 02 Sep 2009 11:47:00 GMT

Sep. 2--Opponents of a plan to close the Glenwood-Fillmore branch of HSBC Bank have decided on a two-pronged response.
The other includes sitting down with HSBC officials to explain the current and potential viability of Fillmore Avenue.
Among the group were many elderly residents, some business owners and elected officials, including County Legislator Betty Jean Grant, Masten Council Member Demone Smith and representatives from the offices of Rep. Louise Slaughter and State Sen. Antoine M. Thompson.

[More...]

City Aide Gets Port Authority Role As Well

Fri, 10 Jul 2009 09:48:00 GMT

Jul. 10--BRIDGEPORT -- The city's chief administrative officer is now serving double duty as director of the Bridgeport Port Authority.
Finch said Nunn for the foreseeable future will serve as both CAO and port director.
He said the BPA cannot afford to hire a new director, adding that the existing staff is sufficient to handle day-to-day responsibilities as Nunn juggles his two jobs.

[More...]

Supes Boot Area Cable Company

Tue, 07 Apr 2009 16:49:00 GMT

Apr. 7--The decision is in. Home Cable Company is out as a cable provider in Jones County.
In addition, the Jones County Tax Assessor Ramona Blackledge recently informed the supervisors that the company is not licensed to operate in Jones County and owes thousands in taxes.
"Because of their lack of buying a license and the fact that they haven't paid any taxes to the county since 1989, I make a motion that we pull the franchise of Home Cable Company in Jones County, Mississippi," said Beat One Supervisor Johnny Burnett.

[More...]

Banks Among Local Stocks Delivering Profitable 2008 Returns

Fri, 02 Jan 2009 17:12:00 GMT

Jan. 2--Amid the worst financial crisis since the Great Depression, local banks provided some of the best local returns available to investors.
UMB Financial Corp. delivered a 28 percent gain for its stockholders.
That's phenomenal performance, given the damage taken by industry goliaths such as JPMorgan Chase & Co., down 28 percent; Bank of America Corp., down 66 percent; and Citigroup Inc., off 77 percent.

[More...]

$1.1 Million for SGLP Top Execs: The Year-End Payments to the CEO and Four Others Come As the Company's Parent Fights for Life.

Thu, 25 Dec 2008 10:48:00 GMT

Dec. 25--Five SemGroup Energy Partners executives will share more than $1.1 million in year-end cash bonuses, even as the publicly traded firm deals with its parent SemGroup LP's bankruptcy, struggles over its own credit default and works to file its first quarterly earnings report in seven months.
A compensation committee approved the additional pay Dec. 18.
The committee apparently took into account the executives' new roles after SemGroup LP's bankruptcy and past compensation partially to justify the bonuses, the report says.

[More...]

Billings Gazette, Mont., Jan Falstad Column - Nov 5 2008 1:05PM

Sun, 02 Nov 2008 17:00:00 GMT

Nov. 2--HAVE YOU HEARD: Consolidation of auto parts stores in Billings has continued with a flourish during the past few weeks.
Then, in July, O'Reilly bought the 1,342 stores in the Checkers chain.
In the past few weeks, the Billings Checkers stores were among the first in the nation to get new O'Reilly signs.

[More...]

Investment Industry Regulatory Organization of Canada - Trade Resumption - Cadiscor Resources Inc. - CAO - Feb 19 2009 1:30PM

Thu, 19 Feb 2009 16:33:00 GMT

VANCOUVER, Feb. 19 /CNW/ - Trading resumes in: Issuer Name: Cadiscor Resources Inc. TSX-V Ticker Symbol: CAO[More...]

Investment Industry Regulatory Organization of Canada - Trade Resumption - Cadiscor Resources Inc. - CAO - Sep 23 2008 10:17AM

Tue, 23 Sep 2008 14:02:00 GMT

VANCOUVER, Sept. 23 /CNW/ - Trading resumes in: Issuer Name: Cadiscor Resources Inc. TSX-V Ticker Symbol: CAO[More...]

O'Reilly Successfully Completes Exchange Offer For CSK With Over 90% Tendered

Fri, 11 Jul 2008 13:16:00 GMT

O'Reilly Automotive, Inc. ("O'Reilly") (Nasdaq: ORLY) today announced that its indirect, wholly-owned subsidiary has accepted, for payment and exchange, all shares validly tendered pursuant to its offer for all outstanding shares of common stock of CSK Auto Corporation ("CSK") (NYSE: CAO). Each share of CSK common stock validly tendered and not withdrawn was exchanged for 0.4285 of a share of O'Reilly common stock plus $1.00 in cash.[More...]

CSK Auto Calendar Sales Generate Major Charitable Donation

Mon, 30 Jun 2008 12:14:00 GMT

CSK Auto Corporation (NYSE:CAO), parent company of CSK Auto, Inc., presented the Boys & Girls Clubs of America last week with a check in the amount of $815,538, representing the net proceeds from the 2007 sales of the Company’s classic car calendar. CSK sells its calendars throughout its chain of more than 1,300 retail auto parts stores in 22 states. According to the Boys & Girls Clubs’ Vice President of the Pacific Region, Linda Rahn, Boys & Girls Clubs of America will use the money to support the organization’s national initiatives, as well as to provide ten transportation vehicles to Boys & Girls Clubs located in markets served by CSK stores.[More...]

CSK Auto Corporation Announces First Quarter 2008 Financial Results

Fri, 13 Jun 2008 20:31:00 GMT

CSK Auto Corporation (the “Company”) (NYSE:CAO), the parent company of CSK Auto, Inc., today reported net sales of $461.1 million for its first quarter of fiscal 2008 ended May 4, 2008, a decrease of 2.5%, or $11.9 million compared to the first quarter of fiscal 2007. The decrease in net sales was primarily due to decreased same store sales, which were partially offset by sales from nine net new stores added from May 7, 2007 through May 4, 2008. Total same store sales declined by 3.1% for the quarter, comprised of a decrease of 5.1% in retail same store sales and an increase of 6.1% in commercial same store sales.[More...]

O'Reilly Commences Exchange Offer for CSK Shares

Wed, 11 Jun 2008 12:42:00 GMT

O’Reilly Automotive, Inc. (“O’Reilly”) (Nasdaq: ORLY) and CSK Auto Corporation (NYSE:CAO) (“CSK”) announced today that O’Reilly has commenced an exchange offer for all of the outstanding shares of CSK common stock pursuant to their previously announced definitive merger agreement dated April 1, 2008. Subject to the terms and conditions of the offer, CSK stockholders will receive between 0.3673 and 0.4285 shares of O’Reilly common stock plus $1.00 in cash (subject to possible reduction as described in the offer documents) for each share of CSK common stock that they tender in the exchange offer.[More...]

CSK Auto Corporation Announces Fourth Quarter and Fiscal 2007 Financial Results

Fri, 18 Apr 2008 20:23:00 GMT

CSK Auto Corporation (the “Company”) (NYSE:CAO), the parent company of CSK Auto, Inc., today reported net sales of $427.0 million for its fourth quarter of fiscal 2007 ended February 3, 2008, a decrease of 9.6%, or $45.2 million compared to the fourth quarter of fiscal 2006. The decrease in net sales was primarily due to one additional week of sales in the fourth quarter of fiscal 2006, which resulted in additional sales of approximately $34.3 million. Same store sales decreased 3.5% for the quarter, comprised of a decrease of 4.9% in retail same store sales and an increase of 3.1% in commercial same store sales.[More...]

O'Reilly and CSK Auto Announce Early Termination of HSR Waiting Period

Fri, 18 Apr 2008 16:43:00 GMT

O’Reilly Automotive, Inc. (“O’Reilly”) (Nasdaq: ORLY) and CSK Auto Corporation (NYSE:CAO) (“CSK”) today announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976 for O’Reilly’s proposed acquisition of CSK. Termination of the waiting period satisfies a condition to the closing of the proposed acquisition.[More...]

BellwetherReport.com Free Financial Sector Review for CAO, AXP, FNM and COF

Tue, 01 Apr 2008 14:39:00 GMT

BellwetherReport.com is the leading online financial newsletter for investors seeking top independent and unbiased research. Investors seeking free and unbiased research on the companies mentioned in this release are encouraged to sign up to www.bellwetherreport.com for a free subscription to access these reports. Today, we have scheduled interviews with a number of the top analysts in North America to speak with them in regards to the current market activity and position of CSK Auto Corp. , American Express Co. , Fannie Mae and Capital One Financial .[More...]

O'Reilly to Acquire CSK Auto for $1.0 Billion

Tue, 01 Apr 2008 13:04:00 GMT

O’Reilly Automotive, Inc. (“O’Reilly”) (Nasdaq: ORLY) and CSK Auto Corporation (NYSE:CAO) (“CSK”) today announced that the two companies have signed a definitive merger agreement under which O’Reilly will acquire all of the outstanding shares of CSK common stock pursuant to an exchange offer, in a transaction valued at approximately $1.0 billion, including approximately $500 million of debt. The boards of directors of both companies have approved the transaction.[More...]