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Today's Calendar
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Monday, August 16,
2010
Economic
08:30 US Aug Empire Manufacturing
09:00 US June Long-Term TIC Flows
10:00 US Aug NAHB Housing Index
Events
Ex-dividend: AFL $0.28, ED
$0.595, MRO $0.25, SUN $0.15.
Earnings
Before the Open: AEZ, JKS, LOW,
SYY, VAL. After the Close: AXAS, A, CPIX, ICXT, IOC, PWRD, RICK,
RINO, URBN, VITC.
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Barron's
Summary: Positive on Adidas, Coinstar, Johnson Controls
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- Barron's cover is a positive
article on Johnson Controls whose stock is trading at a modest
valuation but which Barron's expects to outperform significantly in
the coming years. Barron's mentions that the company expects core
markets to grow at a compound annual rate of 5% in the next 5 yrs
and its business units to grow at twice the growth rate of their
underlying market. Barron's also notes long-term encouraging trends
and a healthy financial flexibility and reminds that board will
revisit its dividend policy in November which at a yield of 1.9% is
not very attractive. Given the company's earning coverage, there is
room for increases.
- Redbox has grown rapidly as
more people are renting DVDs at the company's self-service kiosks
in supermarkets, drugstores and restaurant outlets. The owner of
the Redbox, Coinstar is poised to benefit from this growth story
and Barron's notes that its shares currently trading at $46 could
raise to $60. Citing a money manager, Barron's argues that redbox's
advantage is its $1-a-night price which people favor given the weak
economy. It currently operates 27K kiosks and plans to add 8K this
year. Shares of Coinstar are inexpensive and strengthened by
Redbook, which owns 25% of DVD rental market, its earnings are
rising significantly.
- Positive feature on Adidas
which currently trades at €43 but could raise up to €50
next year as its Reebok brand is improving revenues and profits in
the US, which in return boosted Adidas' second quarter sales by
16%. Average selling price for Rebook increased 20% in H1 as Reebok
embraced the toning-shoe trend
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Sincerely,
Juggernaut Trading, LLC
info@juggernauttrading.com
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