Empiric Student Property Share Discussion Threads

[briarberry] 22/7/2009 13:04

PE - I guess looking at the results so far that the SnPee PE ratio must still be at or above 100 ?

so far this week 25% of the results that I've seen have been a loss

today it's over 30% of results are a loss

[briarberry] 22/7/2009 11:46

8 losses / 25 total

Morgan Stanley Q2 loss $1.10 a share (didn't cook their books enough)
Wells Fargo Q2 EPS 57 cents, up 8% from year ago (well cooked)
KeyCorp Q2 loss 68c vs $2.70 loss
U.S. Bancorp Q2 EPS 12c vs 53c
St. Jude Medical Q2 EPS 63c vs 55c
Boeing Q2 EPS $1.41 vs $1.16
Allegheny Tech Q2 loss 14c including charges
Host Hotels Q2 loss 12c vs 34c profit
PepsiCo 2Q profit falls 2 pct on sales drop
Fiat Q2 loss of euro168 million
Altria Q2 EPS 49c vs 45c
Stanley Works Q2 EPS 87c vs 98c
AirTran Q2 EPS 56 cents vs 14-cent loss
Delta Air Lines Q2 loss 31 cents a share, net loss of $257 million
Eli Lilly Q2 earnings $1.06 vs 88c
Bank of New York Q2 earnings 15c vs 27c
SunTrust Q2 loss 41c a share vs $1.52 profit
CNH Q2 loss 28c vs $1.46 profit
Air Products fiscal Q3 earnings 53c vs 32c
Norsk Hydro's Net Drops 73%
Wipro Posts 12% Rise in Net
Drugmaker Pfizer's 2Q profit plunges 19 percent
Whirlpool Q2 profit fell 33 percent
LG Electronics Inc posted a record quarterly profit
Illinois Tool Works Q2 EPS 35c vs $1.01

[briarberry] 22/7/2009 01:42

The headline spin made both Caterpillar & Intel Q3 outlook sound rosey but read what the firms actually said...


During a conference call with investors to discuss its results, Caterpillar warned that its third quarter would be "very tough" on sales and said it was conceivable that it would lose money in that period.
...
Caterpillar said worldwide sales of its machines were down 47 percent in the three months ended June 30, compared with a decline of 43 percent in the three months ended May 31 and a decline of 39 percent in the three months that ended April 30. (getting worse in other words)


Intel executives acknowledged that the enterprise (business) computing market remains weak. In fact, "in terms of enterprise, we are not planning for a big refresh this year," said Paul Otellini, Intel's CEO. (not likely to get better, in his opinion)

[briarberry] 22/7/2009 00:09

semi still contracting but not as bad as before...

SEMI Book-to-Bill Ratio June: 0.77

[briarberry] 21/7/2009 21:04

6 losses / 16 total

Seagate Q4 loss 16c vs 32c EPS year ago
Seagate Q4 revenue $2.35 bln vs $2.9 bln
Stryker Q4 net income 73c vs 73c
Stryker Q2 revenue $1.63 bln vs $1.71 bln
VF Corp. Q2 net income 68c vs 94c
VF Corp. Q2 revenue $1.49 bln vs $1.68 bln
Starbucks Q3 net income 20c vs 1c loss a share
Starbucks Q3 revenue $2.4 bln vs $2.57 bln
Gilead Sciences Q2 net income 61c vs 45c
Nabors Industries Q2 loss 68c vs 60c EPS year ago
Nabors Industries Q2 revenue $878 mln vs $1.3 bln
Amylin Q2 loss 44c vs 49c loss year ago
Yahoo Q2 net income 10c vs 9c
Yahoo Q2 revenue $1.57 bln vs $1.8 bln
Boston Properties Q2 net income 53c vs 62c a share
Advanced Micro Devices Q2 loss 49c a share
Advanced Micro Devices Q2 rev $1.18B vs $1.36B
C.H. Robinson Q2 net income 54c vs 52c a share
QLogic Q1 net income 13c vs 24c
Apple Q3 net income $1.35 vs $1.19 a share
Apple Q3 revenue $8.34 bln vs $7.46 bln
Sallie Mae Q2 net loss 32c vs 50c profit a share
SLM reports quarterly net loss of $123 mln
Linear Technology Q4 net income 25c vs 46c a share
Linear Technology Q4 rev $208 mln vs $307.1 mln

[briarberry] 21/7/2009 16:31

CIT: More than $1.5 billion in losses for Q2

[briarberry] 21/7/2009 16:30

Moody's: CRE Prices Off 7.6% In May

Commercial real-estate prices fell 7.6% in May ... The indexes are down 29% from a year ago and 35% from their October 2007 peak.



Moody's: Inadequate Loan Loss Provisions for Banks

Banks have failed to make adequate provision for the losses on loans and securities they face before the end of next year ... U.S. banks may incur about $470 billion of losses and writedowns by the end of 2010, which may cause the banks to be unprofitable in the period ...

"Large loan losses have yet to be recognized in the banking system," Moody's said. "We expect to see rising provisioning needs well into 2010."

[briarberry] 21/7/2009 15:07

LOL :)

BJ Services swings to a loss as revenue drops

[briarberry] 21/7/2009 12:40

earnings, Coca Cola did well...

DuPont reported a 61% drop in second-quarter net income on declining demand
Continental Airlines Inc. reported a $213 million second-quarter net loss
United Technologies quarterly profit falls 23%
Comerica profit falls 68% on weak demand
Freeport-McMoRan net income down 38%
Lockheed Martin net down 17% on pension expenses
Pentair net fell 77% on 23% lower revenue

AK Steel Q2 loss 43 cents a share
BlackRock Q2 EPS $1.59 vs $2.00
Southwest Airlines Q2 EPS 7 cents vs 44 cents
Lexmark Q2 EPS 22 cents vs 89 cents
Regions Q2 loss 28 cents a share
Western Union Q2 earnings 31C vs 31C
Quest Diagnostics Q2 net $1 vs. 83c
TD Ameritrade Q3 net 30c vs. 23c
Hudson City Bancorp Q2 EPS 26 cents vs 22 cents
Precision Castparts Q1 EPS $1.70 vs $1.96
Forest Laboratories Q1 EPS 87c vs 79c

Caterpillar said profit in the latest quarter dropped to $371 million, or 60 cents a share, from $1.11 billion, or $1.74 a share, a year earlier
Caterpillar Q2 net 60c vs. $1.14 - Caterpillar net drops 66%

Merck & Co. Inc. said it earned $1.56 billion, or 74 cents a share in the latest quarter, compared to $1.77 billion, or 82 cents a share, in the same period a year ago.

Coca-Cola Co. said its second-quarter profit rose 43% to $2.04 billion, or 88 cents a share, from $1.42 billion, or 61 cents, a year earlier. Revenue fell 9% to $8.27 billion from $9.05 billion.

UnitedHealth Group's second-quarter profit rose 9% to $859 million, or 73 cents a share, helped in part by rising premium revenues

[briarberry] 20/7/2009 21:44

Zions Bancorp Q2 net loss 35c vs 65c a share profit, a quarterly loss of $40.7 million
Legg Mason Q1 net income 35c vs 26c a share loss
Texas Instruments Q2 net income 20c vs 44c a share

[briarberry] 20/7/2009 20:41

July 20 (Bloomberg) -- Advanta Corp., the credit-card company that cut off almost 1 million small-business accounts after posting three quarterly losses, said the default rate more than doubled in June from May to 57 percent

[briarberry] 20/7/2009 14:32

Paulson reveals US concerns of breakdown in law and order

"The Bush administration and Congress discussed the possibility of a breakdown in law and order and the logistics of feeding US citizens if commerce and banking collapsed as a result of last autumn's financial panic, it was disclosed yesterday."

"In the days that followed, a run on some of the safest investment vehicles in the financial markets threatened to make it impossible for people to access their savings." (read: the banks don't have your money)

[briarberry] 20/7/2009 13:22

CIT should survive 2009

Directors of the CIT Group, one of the nation's leading lenders to small and midsize businesses, approved a deal Sunday evening with some of the bank's major bondholders to help it avert a bankruptcy filing through a $3 billion emergency loan

[briarberry] 19/7/2009 23:05

Japan and the USA could monetize $trillions over the coming years if they continue to spend like they are...


Over the last ten years, the Japanese government has seen the level of debt-to-GDP rise from 99% to over 170%, not including local governments.
...
Japan's population is shrinking, and the number of workers per retiree is rising. Japan has the highest ratio of debt to GDP in the developed world. And that debt is growing by 7-8% a year, and does not include local debt. Interest rates cannot go lower. Savings are falling rapidly and will not be able to cover the need for new debt issuance, by a long shot. Within a few years, because of the aging of the population, savings will go negative. Social security payments are rising. GDP is shrinking, and export trade is off about 30-40%, depending on the industry. Machine tools are down 80%! If rates were to go up by 1%, let alone 2%, over time Japan's percentage of tax revenue dedicated to interest payments would double
...
Japan is going to have to start to compete with the rest of the world to sell its bonds. Who but the Japanese would buy a Japanese bond at 1.3%? From a country that is rapidly going to 200% of debt-to-GDP? Doesn't really seem like a smart trade to me. And as the data shows, the ability of the Japanese consumer to buy more debt is rapidly waning.
...
The Japanese government is coming to a crossroads with no good exits. Cut the budget drastically in the face of a deflationary recession? Monetize the debt and let the yen go the way of all fiat currencies?

...
I have been writing for months that I don't think the US can find $2 trillion dollars this year and then come back to the well for another $1.5 trillion next year without serious disruption in the markets. Where do you find that much money when all the rest of the world also wants to borrow massive amounts?

[briarberry] 19/7/2009 22:20

European banks have the potential to create significant risk for the entire worldwide system. Europe's banking system is in far worse shape than the US system. The losses may be bigger, and their capital to meet those losses is certainly less.
...
Regulators in the UK allowed 20:1 leverage on a regular basis. It is now almost 40: and with TCE is around 55. The assets of UK banks are about five times as large as UK GDP. By comparison, for the US the ratio is barely 2:1. Think about that for a second. The UK has banking assets which are five times as large as the annual domestic output of the country. They also had a housing bubble. They have their own bailouts to deal with, which are massive and will potentially get much larger.
...
US bank assets are only twice US GDP. Switzerland and Ireland are over 7 times, the UK is over 5, and the Eurozone is at 4 times.

[briarberry] 18/7/2009 16:52

China - Failed Debt Sales

The central bank is using bill sales to drain cash from the financial system and push up money-market rates, countering record growth in money supply that threatens to create bubbles in stocks and property.

The finance ministry didn't meet its target in a debt sale today, the third failure in two weeks. Demand for debt is cooling after new share sales resumed this month and as investors favor assets that benefit most from the recovery.

[briarberry] 18/7/2009 15:56

Intel's projected third quarter sales figure-even at the $8.9 billion high end of its estimate-would represent a drop of at least 13 percent from the comparable figure of $10.2 billion in the third quarter of 2008.

[briarberry] 18/7/2009 15:23

I guess Joe Biden means that the US should inflate their debt away...


Vice President Joe Biden: 'We Have to Go Spend Money to Keep From Going Bankrupt'

You're telling me we have to go spend money to keep from going bankrupt?'" Biden said. "The answer is yes, that's what I'm telling you."

[briarberry] 18/7/2009 02:31

FDIC seizes South Dakota's BankFirst, the 55th US bank to fail this year.

[briarberry] 18/7/2009 01:23

State Tax Decline in Early 2009 Was the Sharpest on Record

State tax collections for the first quarter of 2009 showed a drop of 11.7 percent, the sharpest decline in the 46 years for which quarterly data are available. Combining the Census Bureau's quarterly data with its annual statistical series, which extends back to 1952, the most recent decline in state tax revenues was the worst on record.

Early figures for April and May of 2009 show an overall decline of nearly 20 percent for total taxes, a further dramatic worsening of fiscal conditions nationwide.

[briarberry] 17/7/2009 22:38

continuing claims will fall, Wall St will say it's more green shoots...


More than 650,000 Americans will have used up all of their unemployment benefits by September.