For Immediate Release
Chicago, IL – January 29, 2010 – 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: Ford Motor Co. (F), Paccar (PCAR), Boeing (BA), Textron (TXT) and The Procter & Gamble Company (PG).
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Here are highlights from Thursday’s Analyst Blog:
Durable Goods Orders Rise a Bit
Perhaps the most important of the “deep in the seeds” numbers in this report is non-defense capital goods orders, excluding aircraft, also known as core capital goods orders. That is a very good measure of how much companies are investing in equipment and software, which are two of the direct inputs into GDP. These rose by 1.3% following a 3.1% rise in November.
In another optimistic sign, orders for motor vehicles rose by 3.6% — the third increase in a row — and a big acceleration from the 0.7% rise in November. Unfortunately, the report does not break out how much of that is coming from automakers like Ford Motor Co. (F) and how much is coming from heavy trucks makers like Paccar (PCAR).
Year-Over-Year Numbers
The December report also provides the full-year differences in new orders for all of 2009 relative to 2008, and reminds us of just how nasty this downturn has been (and remember that 2008 was not exactly a banner year). Total new orders were down 20.2%, excluding transportation orders were down 17.7%, and excluding Defense orders were down 21.4%.
The non-defense aircraft industry saw a stunning 51.6% full-year decline. That area not only includes jumbo jets from Boeing (BA), but also light aircraft from places like Textron’s (TXT) Cessna division.
Many businesses have decided the impression that buying a new corporate jet gives is not that great when so many people are hurting. Total non-defense capital goods orders were down 24.6% for the year, and even with aircraft excluded they are down 18.4%.
P&G Reports Strong 2nd Quarter
The Procter & Gamble Company (PG) reported results for the second quarter of fiscal 2010 with earnings of $1.10 per share, below the Zacks Consensus Estimate of $1.37 but up 22% year-over-year.
Net sales for the quarter increased 6.4% year-over-year to $21.0 billion, driven by a 5% growth in unit volume, 1% benefit from pricing and positive currency translations of 2% contributing to the top line, partially offset by a 2% negative impact from geographic mix. Successful product launches, supported by marketing initiatives, also contributed to the top line. Organic sales grew 5% during the quarter, driven by volume and pricing.
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