of this sector and NEW already went under since. AHM now trading at $1.14 I said short it at $23-$25 levels back in Late Feb. & March. I also said short IMB (Indymac) which had a different symbol back then at $30 area, its now at $22+ but has huge debt and could have the same fate as AHM. [more]
Sell the Dirty Dozen While You Can
By Jim Cramer
If it yields more than 10%, shoot it. That was the message of American Home Mortgage. It is also the message of a host of others: RAIT Financial Trust CapitalSource NovaStar Newcastle Investment Gramercy Capital with that cute reverse split, like that fooled anybody I hate these stocks. Every one of them. I don't even think they have an idea of how bad things are, just like American Home. I am giving Redwoods Trust and Thornburg Mortgage the benefit of the doubt because they did jumbo loans. But if they did jumbo loans -- for the allegedly rich -- in 2006, that benefit goes away because 2006 is all bad. You might get a chance to get these off your sheets today because of the so-called better than expected earnings from IndyMac just now. I'd sell that one too because defaults are rising, which is all that matters right now. The overall tone of the... [more]
IMB said this that some may have missed: We anticipate that the second half of 2007 and 2008 will continue to be challenging for the mortgage and housing markets and for Indymac... We expect competitive pricing pressures on our MBR margins to continue. In addition, we expect that the current, temporary volatility and reduced liquidity in the secondary markets will adversely impact secondary market execution, putting further pressure on MBR margins, although we expect this negative impact to abate once the secondary market stabilizes. While our recent guideline tightening has improved the quality of our loan production, additional deterioration in the housing market could further increase our credit costs. [more]
Why short IMB & NFI? Just look at AHM, these stocks have something in common and that is that the mortgages they sold are being recalled and these companies have to use their cash to re-buy them. The pronlem is that they don't have much cash to spare. [more]
because after the minor correction LZEMX just keeps going right back to its STRONG-UPWARD-TREND, its chart is just fantastic.
SIMO, WWIN, TWIN
SIMO reports after the close its down to $21+ from $29 high on July 16th
WWIN reports July 31, its beaten estimates 4 straight qtrs down 15% from high.
TWIN reports July 31, its down from $80+ to $63+ today.
8:01AM Vivus receives FDA approval of Evamist NDA; eligible to receive milestone payment of $140,000,000 from KV Pharmaceutical (VVUS) 5.49 : Co announces that is has received FDA approval for the marketing of Evamist. VIVUS previously announced the agreement with KV Pharmaceutical Company for the grant of a sublicense of exclusive rights and sale of assets related to Evamist on March 30, 2007. At the closing of the Transaction in May 2007, VIVUS received a cash payment of $10 mln. Under the terms of the Transaction, VIVUS is also eligible to receive an additional $140 mln cash payment upon the approval of the New Drug Application for Evamist. The payment is expected five days after the transfer of the NDA to KV. VIVUS is expected to transfer and assign the NDA to KV by August 3, 2007. In the future, VIVUS may also receive certain one-time milestone payments of up to $30 million based on net annual sales of Evamist. [more]
that soar 50% or more on the day. Thats why I say They should be eliminated from CAPS and all scores of all members should be adjusted to what their scores would have been without .ob and .pk picks included. [more]
The Worst Is Yet to Come
By Rich Greifner July 26, 2007 [more]
KBH up $.90+
LEN up $.63
DHI up $.37
CTX up $.74
Home Builders book values going down big as companies take charges and lower value of assests. [more]
USE Every up pop as a chance to short more on Home Builders.
Two major builders endure hefty losses
Have people forgotten everything from the tech bubble.. Buying a stock that is falling daily because you think is a bargain today compared to 3 months ago is a crazy reason to buy. I am sure many thought the same thing about techs in August 2000 after tech stocks fell for 3 straight months. They thought they found bargains in August 2000 as well and did not want to pass them up. We all know how that ended. When you think its cheap it will only get even cheaper. Whats worse is that Tech stocks did not need PE's to trade at lofty levels while Home builders count on their PE's. So whats a Home Builder worth if it no longer has profits to sport a PE?
Well back in the last housing bubble burst home builders were worth in the single digits. Beware of Home Builders because they are going Under $10 [more]
Thats the funny part because the Dow crash is caused because of home sales.
Other days when the markets are rallying the homebuilders just steadily drop everyday.
(Whats really shocking is that yahoo stats show only $68M cash but they lost $852M for just one qtr. This is CRAZY type losses over a 3 month period in my opinion) [more]
fools have an outperform rating over underperform in Homebuilders while the stocks rating on average is 1-2 stars. That means alot of people are invested in homebuilders thinking they predicted the bottom, when people think its the bottom thats when all hell breaks loose and goes even lower. Bottom is found when people think every homebuilder is going bankrupt and no one wants anything to do with any homebuilders even when data comes out that the sector is recovering. [more]
Based on todays housing numbers that fool holding shares of LEN needs to find an even bigger fool to buy his shares before LEN's earning report: [more]
Which Homebuilder will go bankrupt? Throw a DART at them
TOA is probably the closest to going bk right now. Its on the Heels of a NJ company Kara Builders which was on Forbe's list of the fastest growing companies in North America just a couple of years ago in 2005. [more]
TOA is probably the closest to going bk right now. Its on the Heels of a NJ company Kara Builders which was on Forbe's list of the fastest growing companies in North America just a couple of years ago in 2005. [more]
DHI $5B DEBT only $68M cash Reports greater losses than expected (Per Yahoo stats) [more]
UPDATE 1-TABLE-Double-Take Q2 earnings rise; ups 2007 outlook
Tue Jul 24, 2007 7:07PM EDT
(Adds Q3, 2007 outlook)
July 24 (Reuters) -
DOUBLE-TAKE SOFTWARE INC. (DBTK.O: Quote, Profile, Research)
(in $) Latest Yr-ago qtr
EPS (diluted) 0.33 0.02
Net (million) 7.5 2.2
Net# (thousands) 7,492 111
Total revenue (million) 20.0 14.7
#attributable to common stockholders
Reuters Estimates: EPS $0.15, revenue $19.3 million.
--The maker of data protection and recovery products said
it expects third-quarter earnings of 11 cents to 12 cents a
share, excluding the impact of stock-based compensation
charges. It sees revenue of $20.2 million to $20.7 million for
--For the third quarter, analysts on average were expecting
earnings of 15 cents a share, excluding exceptional items, on
revenue of $20.3 million, according to Reuters Estimates.
--The company said it raised its 2007 outlook on the
strength of its second-quarter results.
--It now expects earnings of 72 cents to 74 cents a share,
excluding stock-based compensation charges, on revenue of $81.1
million to $82.1 million.
--In April, the company had forecast earnings of 56 cents
to 62 cents a share, on revenue of $78.5 million to $80.5
million for the year.
--For 2007, analysts on average were expecting earnings of
61 cents a share, excluding exceptional items, on revenue of
--Shares of the company were down nearly 8 percent in late
electronic trade, after closing at about $18.39 on the Nasdaq.
(Reporting by Aditi Samajpati and Swagata Gupta in Bangalore)
Picking losers is so much easier than picking winners, why? because its just so obvious to be able to spot the losers. Spec bear thinks he is a genius LMAO sure you are, keep thinking that.
underperform certain homebuilders, not all home builders are equal
some homebuilders have enough cash to wait out slowdown, while others barely have enough for a few qtrs of big losses.
Per Yahoo stats:
PHM 116M Cash & 4B debt
HOV 10M Cash & 2.6B debt
DHI 68M Cash & 5B debt
KBH 272M Cash & 2.8B debt
KEMET Reports Results of 1st Quarter Operations
Wednesday July 25, 8:00 am ET
-- Net Sales were $183.1 million for the quarter, up 16.5% over last quarter
-- Gross Margin for the quarter was 21.6%, up from 20.6% in the previous quarter
-- Net Income on a pro-forma basis was $9.7 million or $0.12 per share
GREENVILLE, S.C., July 25 /PRNewswire-FirstCall/ -- KEMET Corporation (NYSE: KEM - News) today reported that net sales for the quarter ended June 30, 2007, were $183.1 million which represents an 8.0% increase over the same quarter last year and a 16.5% increase over the prior quarter. Net income before special charges was $9.7 million, or $0.12 per share (including a $2.5 million tax benefit), compared to $7.0 million, or $0.08 per share, last quarter and $8.1 million, or $0.09 per share, for the same quarter with prior year. On a U.S. GAAP basis, net income was $7.0 million, or $0.08 per share, for the current quarter compared to net income of $0.1 million for the prior quarter and net income of $0.6 million for the same quarter last year. KEMET also reports results before special charges because the results offer an alternative depiction of normal operations. Comparisons to prior periods are as follows:
Quarter Ended Year Ended
Jun 2007 Mar 2007 Jun 2006 Mar 2007 Mar 2006
(In Millions, Except Per Share Data)
Net sales $183.1 $157.1 $169.6 $658.7 $490.1
Before special charges
Net income $9.7 $7.0 $8.1 $35.9 $17.8
Net income per diluted share $0.12 $0.08 $0.09 $0.42 $0.21
After special charges (GAAP)
Net income $7.0 $0.1 $0.6 $6.9 $0.4
Net income per diluted share $0.08 $0.00 $0.01 $0.08 $0.00
included in results $2.4 $1.3 $3.9 $6.9 $-
per diluted share $0.03 $0.02 $0.04 $0.08 $-
"During the June quarter, the Company made progress toward meeting our financial and operational goals," stated Per Loof, Chief Executive Officer. "Revenues from our base Tantalum and Ceramic businesses were up 2% on strength in the OEM markets and recovery in Asia. Gross margin grew from 20.6% in the prior quarter to 21.6% this quarter, reflecting sales growth as well as our ongoing cost reduction efforts. We realized the benefits of our balanced strategy across geographic markets. Net income before special charges was $9.7 million, or $0.12 per share, up 39% over the previous quarter on a comparable basis."
"We are also encouraged by the initial results from our recent acquisition of Evox Rifa, now the Film and Electrolytic Business Group. Net sales were $22.7 million since the acquisition on April 24, 2007, and operating income was over 5.0% of sales, exceeding our expectations and making a positive contribution to our results. Our recent experience with the European tantalum business will be a valuable asset as we integrate this business into KEMET. We remain confident that this acquisition will create new opportunities for KEMET and yield additional benefits for our shareholders."
Beginning October 1, 2007, KEMET will observe a Quiet Period during which the information provided in this news release and the Company's quarterly report on Form 10-Q will no longer constitute the Company's current expectations. During the Quiet Period, this information should be considered to be historical, applying prior to the Quiet Period only and not subject to update by the Company. The Quiet Period will extend until the day when KEMET's next quarterly earnings release is published.
Contact: David E. Gable
Senior Vice President and Chief Financial Officer
Source: KEMET Corporation [more]
Wednesday's winners? Probably solid companies that fell big today. Tonight is the night to search thru the blood bath and pick the winners for Wednesday.http://finance.yahoo.com/losers?e=us
Invest in Mining stocks, you know which one's I already picked.
So when you see underperform guys winning the contest, don't be in shock at how good they are because in truth they are not that good. Its just that CAPS contest is favored to the guys picking underperform to win. In repsonse to TMFeldrehad "Words of Caution" [more]
On July 12 FUL announced $100M buyback. This buyback should easily cause FUL to beat estimates going forward due to less shares outstanding.
•H.B. Fuller announces $100M share repurchase program
at MarketWatch (Thu, Jul 12)
At current price its very cheap compared to peers, AKS, X, STLD, SCHN
with 8k volume, ZEUS down .82/shr ..
This is so funny because I hope they have a clue how fast it could be up by .82/shr
on the heels of strong outlooks and earnings by 4 steel stocks:
First it was SCHN and then today by AKS, X, and STLD.
AK Steel second-quarter profit soars on higher prices
Tue Jul 24, 2007 8:35AM EDT
NEW YORK, July 24 (Reuters) - AK Steel Holding Corp. (AKS.N: Quote, Profile, Research) said on Tuesday that second-quarter profit soared due to higher steel prices and record shipments.
Net earnings were $109.9 million, or 98 cents per share, compared with $29.1 million, or 26 cents per share, a year earlier, the Middletown, Ohio-based company said.
In April, AK Steel had forecast increased operating profit in the second quarter as it expected steel prices to rise 2 percent to 3 percent over the first quarter. (Reporting by Steve James)
Henry Paulson: US Economy Is 'Very Healthy'; Consumer Is StrongLast update: 7/23/2007 5:56:52 PMWASHINGTON (Dow Jones)--The U.S. economy is healthy, supported by consumer demand at home and abroad, U.S. Treasury Secretary Henry Paulson said Monday. "I believe we are making a successful transition from a rate of growth that wasn't sustainable to a rate that is sustainable," Paulson said in an interview with CNBC's Kudlow and Company. Paulson said weakness in the U.S. housing industry had most likely bottomed out, while the fallout from rising defaults on subprime mortgage loans is "quite containable." Stock price gains and growing employment have strengthened finances for most U.S. consumers, Paulson said. Meanwhile, faster economic growth in Europe, Japan, and almost every other region in the world has boosted demand for U.S.-made goods, he added. "Strong growth outside the U.S. helps the U.S. economy," Paulson said. "I believe we have a very healthy U.S. economy." Paulson repeated the long-standing Treasury policy calling for a strong U.S. dollar, the value of which should be set in competitive markets and based on underlying economic fundamentals. "I believe a strong dollar is in our nation's interest," Paulson said. Paulson said the Treasury Department and other agencies responsible for monitoring financial markets are closely watching credit-market developments for "excesses." He said U.S. financial markets have changed since the last period of major financial shocks in 1998, with increased use of derivatives and more activity by private equity. However, Paulson said said he doesn't believe the U.S. economy is headed for a credit crunch. Looking ahead, Paulson said Treasury's drive to make the U.S. tax code less complicated will focus on building awareness of the costs of a complex system that taxes corporations at a relatively high rate. -By Elizabeth Price, Dow Jones Newswires; 202-862-9295; Elizabeth.Price@dowjones.com (END) Dow Jones NewswiresJuly 23, 2007 17:56 ET (21:56 GMT) [more]
Look up : SCHN, ZEUS, AKS, CLF, STLD, RIO [more]
Monday July 23, 9:25 am ET [more]
WHR Forward PE is now 11 after today's $4+/shr drop. It's amazing that it could still post 77% profit increases while its USA sales are down due to the housing slump. What kind of growth will it be able to show with all cylinders running at the same time? [more]
in the market. The market is down on GOOG but GOOG is in no way the sign of how the Market is doing because its numbers were so grossly over-estimated its not even funny.
Stock pickers love days like today.
TGB to close near Day Highs DJ MARKET TALK: Comex Copper Futures Resume Uptrend1418 GMT [Dow Jones] - Comex copper remains technically strong, says Scott Meyers, senior trading analyst with Pioneer Futures. After a recent pullback, the Sep futures have resumed their uptrend and may soon take out the $3.6650 two-month high from July 7, he says. "I think we're going to make an assault on the $3.75 level shortly," says Meyers. "I don't know if it's going to be in the month of July, but I do think it's going to be over the summer." Technical support is around $3.50, he says. "It looks fundamentally strong and technically strong," he says. "They're buying dips. They're selling it a little bit on rallies, but not with any real major momentum." Sep copper is up 6.25 cents to $3.6255 a pound. (ALS) Contact us in Chicago at 312-750-4075; firstname.lastname@example.org (END) Dow Jones Newswires 07-19-07 1019ET Copyright (c) 2007 Dow Jones & Company, Inc. 10:19 071907 [more]
Gold futures tap six-week high as copper ralliesBy Myra P. Saefong & Polya Lesova, MarketWatchLast Update: 10:35 AM ET Jul 19, 2007
SAN FRANCISCO (MarketWatch) -- Gold futures climbed past $676 an ounce Thursday morning, marking their highest level since early June, as copper prices rallied as much as 2% to their highest level in a week. Concerns over high energy prices and overall weakness in the U.S. dollar continued to support gold prices, while strong demand for copper and expectations for growth in consumption lifted copper. Gold for August delivery was last up $20 at $675.70 an ounce on the New York Mercantile Exchange after climbing as high as $676.50, the contract's highest level since June 6. September copper gained 1.7%, or 5.95 cents, to $3.6225 a pound. It touched $3.635, its highest level since July 12. "Copper is partly riding higher on the back of the fund buying driving lead to a record high and tin to a 25-year peak" on the London Metal Exchange, said Martin Hayes, an analyst at BaseMetals.com. Although LME copper stocks rose above 100,000 metric tons, that was due to metal arriving in Asian warehouses, he said in e-mailed comments. "That was expected, and may be coming to an end now." At the same time, he pointed out that "all the labor disputes are still dragging on." Chile's Codelco said output has been reduced at three of its mines, due to a four-week strike by contract workers, according to Hayes, and production at the El Salvador mine in northern Chile was halted for a third day after workers blocked entrances. "The company's Andina and El Teniente divisions, both in central Chile, are producing at about 90 percent of normal levels." Copper found additional support from an International Copper Study Group report showing world refined copper consumption outpacing production by 265,000 tons in the first four months of the year, according Edward Meir, analyst at Man Financial, in a morning note. "This compares with a surplus of 35,000 tons in the year-ago." Also of note was a report that China's economic growth accelerated to 11.9% in the most recent quarter, rapid even by Chinese standards. Economists had expected China's economy to grow 10.8% for the three months ended in June. Read more about China. "This is keeping the Chinese economy on course for a staggering fifth straight year of double-digit expansion and has dispelled any notion that the authorities are having success reigning in the booming economy," Meir said. Gold staminaAs for gold, "prices continued at levels above $670 per ounce amid continued weakness in the U.S. dollar and near 11-month highs in the crude oil price," Kitco Bullion Dealers analyst Jon Nadler said in a morning note. On Wednesday, gold futures closed up $7.80, or 1.2%, at $673.70 an ounce after a high of $675.30. In the currency markets Thursday, the dollar traded mixed against the euro and the yen, stabilizing after falling to fresh lows in the previous session. See Currencies. "Gold remains firm and the dollar remains under pressure staying near record lows versus the euro and sterling with Fed Chairman, Ben Bernanke's Congressional testimony yesterday weighing on the currency," said Mark O'Byrne, director at Gold & Silver Investments Ltd. Bernanke reiterated that "upside risks to inflation remain the Fed's main concern, [though] markets were more interested in his references to other problems," said O'Byrne in a research note. See Fed story. Meanwhile, crude futures prices continued higher, toying with the $76-a-barrel level, feeding worries over high energy prices. See Futures Movers. Also on Nymex, September silver gained 6 cents at $13.35 an ounce, October platinum added 80 cents to $1,338 an ounce, and September palladium rose $1.30 to $373.50 an ounce. Gold warehouse inventories were unchanged at 6.97 million troy ounces as of late Wednesday, according to Nymex data. Silver supplies dropped to 133.3 million troy ounces, down by 521,465 troy ounces, while copper supplies stood at 21,065 short tons, off 295 short tons. Indexes tracking mining and metals stocks climbed again Thursday. The Philadelphia Gold and Silver Index (XAU : phlx gold silver index capital-weightNews , chart , profile , moreLast: 156.73+2.32+1.50%
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Financials Sponsored by:
XAU156.73, +2.32, +1.5%) was last at 155.83, up 0.9%. The CBOE Gold Index (GOX : CBOE Gold IndexNews , chart , profile , moreLast: 161.94+2.26+1.42%
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Financials Sponsored by:
GOX161.94, +2.26, +1.4%) rose 160.94 points and the Amex Gold Bugs Index (HUI : amex gold bugs index equal-$ weightNews , chart , profile , moreLast: 369.09+3.99+1.09%
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Financials Sponsored by:
HUI369.09, +3.99, +1.1%) was at 367.96 points, with both trading 0.8% higher. As for sector exchange-traded funds, the StreetTracks Gold Trust ETF (GLD : streetTRACKS Gold Shares ETFNews , chart , profile , moreLast: 66.88+0.26+0.39%
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Financials Sponsored by:
GLD66.88, +0.26, +0.4%) was up 0.4% at $66.86, while the iShares Silver Trust ETF (SLV : ishares silver trust isharesNews , chart , profile , moreLast: 132.01+0.86+0.66%
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SLV132.01, +0.86, +0.7%) added 0.9% to $132.10. The Market Vectors-Gold Miners ETF (GDX : market vectors etf tr gold miner etfNews , chart , profile , moreLast: 42.85+0.37+0.87%
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GDX42.85, +0.37, +0.9%) rose 0.5% to $42.70. Myra P. Saefong is MarketWatch's assistant markets editor, based in San Francisco.
Polya Lesova is a MarketWatch reporter based in New York. [more]
and further increases in production is planned for by the end of 2008. Due to current prices of copper and molybdenum this will make TGB's already low PE go much lower at current price of TGB. [more]
During a bull run u must take advantage of down days like today to buy stocks that have come down. [more]
American Electric Technologies Issues Letter to Shareholders
Wednesday July 18, 9:30 am ET
HOUSTON--(BUSINESS WIRE)--American Electric Technologies, Inc. (NASDAQ:AETI - News), a premium supplier of custom-engineered power delivery solutions to the traditional and alternative energy industries, today released the following letter to shareholders from the company's chairman, president and CEO, Arthur Dauber.
Dear Fellow American Electric Technologies Shareholders,
It is my pleasure to thank you for your support of the merger between American Access Technologies and M&I Electric.
I'd like to introduce myself and our company, and share my thoughts with you as I assume my responsibilities as Chairman, President and Chief Executive Officer of American Electric Technologies, Inc. (AETI).
As you may have read in the American Access Technologies-M&I Electric proxy statement, I've been President of M&I Electric Industries since 1984, when my partners and I acquired the company from its previous owners. Previously, I had spent 18 years with General Electric in a variety of management, manufacturing and strategic planning roles.
Over the past 23 years, M&I has grown from a regional provider of electrical products and services focusing on the Gulf Coast marine, industrial and energy markets, to a global provider of power delivery systems for the largest energy companies in the world.
For more than 60 years, we have delivered high quality electric equipment and services to the Gulf Coast oil and gas industries, including land and offshore drilling companies and production operators.
With facilities located in Texas (Houston and Beaumont), Florida, Mississippi, Singapore and China, AETI is uniquely qualified to serve global power distribution and control needs. Combining custom-engineered product and service businesses, the company provides complete, single-source turnkey systems and installations for the traditional and alternative energy industries.
Our custom-engineered power delivery systems include low-voltage and medium-voltage switchgear and motor control centers, AC and DC variable frequency drives, automation and control products, high voltage services, and Electrical and Instrumentation (E&I) construction services. Our equipment has been certified to comply with the highest domestic and international regulatory certification standards.
Our customers include oil and gas exploration, drilling, production, pipeline, shipbuilding, oil refining, petrochemical, and power generation companies. The company has delivered more than 10,000 power delivery systems to companies in these industries, including Diamond Offshore, Transocean, GlobalSantaFe, Williams, El Paso Corporation, and Noble Drilling to name a few.
As a global provider, we offer sales, service and support around the world. In addition, the company has developed strategic relationships in key energy markets such as China, South East Asia, the Middle East and South America.
We have partnered with the largest Chinese provider of oilfield equipment, Baoji Oilfield Equipment Company (BOMCO) to create a joint venture in Xian called BOMAY, to supply the growing Chinese drilling and industrial markets. There are more than 200 employees in this joint venture who are building products out of an existing building while construction is completed on a new 60,000 sq. ft facility.
In 1994, M&I formed M&I Electric Far East (MIEFE), a joint venture with Oakwell Industries in Singapore to focus on the South East Asia market. The company also has strategic affiliations in the Middle East (with World Wide Power Systems), throughout Latin America and in Canada.
The merger between M&I Electric and American Access Technologies should provide significant operational synergy. M&I's products utilize custom metal fabricated enclosures -- the bread and butter of American Access Technologies.
For the remainder of 2007, we will focus on several key business objectives:
* Integrate American Access Technologies and M&I Electric's businesses
* Complement our existing traditional oil and land-based drilling business by penetrating the oil and gas pipeline and production markets, as well as the offshore marine vessel market
* Increase revenue from E&I (Electrical & Instrumentation) construction for industrial and commercial segments
* Add upgraded production equipment to American Access for capacity and productivity improvements
* Pursue alternative energy markets by leveraging our expertise in power distribution and control, high voltage services and construction capabilities
* Complete implementation of new enterprise financial system software.
I encourage you to read the financial information and footnotes that were publicly filed on April 6, 2007 with the SEC and disseminated to existing shareholders. The highlights reveal that M&I's net sales (prior to adding any contribution from our merger partner American Access) in 2006 were $45.4 million versus $34.9 million in 2005. Income before income tax expense was $3.8 million in 2006 and $2.1 million in 2005 and net income was $2.4 million in 2006 versus $1.3 million in 2005. As of the merger, AETI currently has approximately 7.7 million shares outstanding with approximately 1.5 million shares in the public float.
Finally, the company is committed to the highest standards of corporate governance. We have always been dedicated to very ethical business conduct and over the past 60 years, we've built a reputation in the industry for integrity. We are more dedicated than ever to protecting our reputation, assets, customer loyalty and investor trust. Please view the company website www.aeti.com for more complete information about our business and operations and to keep up-to-date on current news and activities.
As we head into our 7th decade of business, I want to thank our employees for their dedication and hard work; our customers for their investments in and partnership with us -- and finally, our shareholders for their support as we enter into what we believe to be an exciting, new era for American Electric Technologies, Inc.
Thank you for your confidence. We will all continue to work hard to earn it.
Arthur G. Dauber
CEO and Chairman, Board of Directors
American Electric Technologies, Inc.
American Electric Technologies, Inc. (NASDAQ:AETI - News) is a leading provider of custom-engineered power delivery solutions for the generation, transmission and utilization of energy. AETI will offer M&I Electric power distribution and control solutions, field service and testing services, and E&I construction services, as well as American Access zone enclosures, and Omega Metals custom fabrication services. AETI is headquartered in Houston and has global sales, support and manufacturing operations in Keystone Heights, Fla., Beaumont, Texas, Mississippi, Singapore and China. For more information about AETI, visit www.aeti.com.
Forward Looking Statements
Except for the historical and present factual information contained herein, the matters set forth in this document, including statements regarding our expected business objectives for the balance of 2007 and other statements identified by words such as "expects", "should", "offers", "believes", and similar expressions are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.
There are many risks, uncertainties and other factors that can prevent the achievement of our goals or cause results to differ from those expressed or implied by these forward-looking statements including, without limitation, anticipated synergies from the merger not being achieved; inherent risks of integrating two companies; changes in demand for products and services from external factors including general economic conditions or changes in the oil and gas and other industries in which the Company operates; delays in the award of new projects; the termination or reduction of existing projects due to changes in the financial condition or business strategies of the Company's customers; dependence on key personnel and hiring and retaining professional staff and key personnel; fluctuations in quarterly results from a variety of internal and external factors including changes in the estimates with respect to the completion of fixed-price contracts; and, competition in the marketplace especially from competitors with greater financial resources and financing capabilities. These and other risks which may impact management's expectations are described in greater detail in the proxy statement previously filed by American Access Technologies, Inc. with the Securities and Exchange Commission in connection with the merger and other reports as may be filed by Company. The Company undertakes no obligation to publicly release the result of any revisions to such forward-looking statement that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
American Electric Technologies, Inc.
John Untereker, 713-644-8182 (Investors)
Joe McGuire, 904-228-2603 (Investors)
Lena Clark, 713-869-0707 (Media)
Shelley Eastland, 713-869-0707 (Media)
Source: American Electric Technologies, Inc.
Oilsands Quest Inc.: Undervalued Canadian Oilsands Play
Oliver Schwindler (Investing Themes) (Relative Market View) submits: Oilsands Quest Inc. (BQI) (formerly CanWest Petroleum Corporation) is engaged in a variety of projects with an emphasis on oil sands and oil shale exploration in Western Canada. Its lead project is its Axe Lake Discovery, an oil sands deposit the company has identified through exploration drilling success on its permit lands in northwest Saskatchewan. This is the first major oil sands discovery in the province’s history. Thursday management increased its estimated resource potential of the Axe Lake Discovery (area A in figure below) from 1.5 billion barrels (released early April) up to 2.5 billion barrels.
Management also released its estimate of resource potential for selected areas outside the Axe Lake Discovery area (areas B and C in figure below) and for the adjacent permits in Alberta (area D in figure below) which is 3.0 billion barrels and 4.5 billion barrels respectively.
On a fully-diluted basis the company has currently 250 million shares, of which management owns 19%. If we take the acquisition price of the former privately held North American Oil Sands Company paid by Statoil on April 27th this year at $0.91 per barrel recoverable reserves and apply it to BQI's 10 billion of estimated reserves (assuming 50% is recoverable), we get an estimated market value of $4.55 billion for Oilsands Quest, or $18 per fully-diluted share. Beside the favorable valuation the company has top notch management with a track record of building an oilsands company (CEO, Chris Hopkins founded Synenco [TSX: SYN]).
The sharp price jump yesterday indicates that BQI could have reached its bottom at the $2.50 level (see chart below) because the move was accompanied by an extremely high turnover.
Disclosure: the author has currently no position in BQI, but intends to buy shares of BQI in the coming weeks. [more]
for this so far explosive sector in 2007.
TRA earnings estimates have been on the rise, in the last 90 days its estimates have more than doubled upwards. The fertilizer sector has been on a tear because of the increased plantings of Corn to be used as ethanol ,which increases the demand for Fertilizer.
China Fire & Security Group, Inc. Approved for Listing on Nasdaq Capital Market
Thursday July 12, 8:30 am ET [more]
China Fire & Security Group, Inc. Announces First Quarter 2007 Results
Monday May 14, 9:01 am ET First Quarter and Recent Highlights: -- Revenue Increased 43% year over year to $9.5 million -- Income from Operations increased 55% to $3.3 million with Operating Margins improving 2.7% versus Last Year to 35% -- Proforma EPS Improves 33% to $0.12 -- Company signs Amendment with Series A and Series B warrant holders leading to the Elimination of the Change in Fair Value of Derivates from Income Statement beginning in the Third Quarter 2007 -- Four New Board Members added to Complete Independent Board, Company Applies for Nasdaq Capital Market Listing [more]
AMREP Reports Best Year in Its History, With Record Revenues, Net Income and Earnings Per Share, Despite Lower Fourth Quarter Results Versus Prior Year
Monday July 16, 9:09 am ET Company Also Announces a Special Cash Dividend of $1.00 Per Share and Authorization to Repurchase up to 500,000 Shares of Its Common Stock [more]
In the last couple of months shorts have flooded BRLC in hopes that BRLC will be unable to collect invoices on certain customers including South China House of Technology. Today BRLC proves shorts are wrong. BRLC claims it has no invoices above 120 days and has collected $129.6M from South China House of Technology. In addition BRLC has raised Guidance today. [more]
Amtech to Present at the 2007 C.E. Unterberg, Towbin Emerging Growth Investor Conference [more]
and I agree with him wholly. Funds are rotating into growth stocks and away from value. What do I see as growth? Personally my favorite is the Solar Sector as you can tell by my picks. But the analyst said growth is coming back strong in fav. just like it did in 2003.
Shorts have been piling on Solar Power stocks but that will only make them go much higher not down. Especially if Congress acts as oil approaches all time highs again. [more]
only problem is I can't add it to my caps outperform rating yet because its under $100M cap. But added it in my real life portfolio. This one should be one of the top gainers of the year going forward 1 year .
Yesterday FSLR contract was only 50% bigger (First Solar will make 685 megawatts' worth of power modules ) but its stock went up $20/shr on the day while YGE today is actually down .85/shr LMAO at the shorts that are trapping themselves on YGE on this down market day. I will laugh even harder when they will fight with new longs trying to get in YGE while the shorts try to cover on the next green day for Yingli Green energy.
Since I overloaded on stocks in these sectors is the time my portfolio went from Under 500 to 2200+ points within 3 months time.
BUY YGE on every down day, worked like a charm on JASO, TSL, SPWR, FSLR
YGE has also recently Won Big Contracts like those of TSL or FSLR
Yingli Green Energy Wins Significant Sales Contract In Spain
Monday July 2, 6:00 am ET [more]
recently listed as one of the top 10 tech stocks.
Commtouch Software, Ltd. provides email defense products to enterprise customers and original equipment manufacturer distribution partners. Its products include anti-spam, virus outbreak detection, and IP reputation solutions. The company offers a software development kit (SDK), which comprises multiple components, and each component of the SDK enables third-party vendors to integrate one of the company's licensing offerings. Its SDK solution can be integrated with various products, including anti-virus applications, content filtering solutions, firewall systems, security servers, and other network appliances. The company also offers an enterprise anti-spam solution, consisting of both a software element, the �Enterprise Gateway' and a service component, a Commtouch Detection Center. The Enterprise Gateway filters messages at the customer organization's entry point, before being distributed to recipients, with added user-level controls and secure spam detection services. The Detection Center collects information from multiple sources about new spam attacks; analyzes the input using Commtouch patented technology; identifies and detects spam; classifies the data and matches its stored information against queries for spam detection from Enterprise Gateways; and replies to the Enterprise Gateways with a prioritized resolution. Commtouch sells its products through third party distribution channels, and resellers primarily in the United States, Israel, Europe, and Asia. The company was founded in 1991 and is based in Netanya, Israel. [more]
Commercially Available to Patients in Switzerland
Monday July 9, 2:00 am ET
Swiss 'Authorization for Use' Approved for DCVax(R)-Brain
~ Patient survival is more than doubled in both newly diagnosed and recurrent brain cancers ~ [more]
MEA continues to soar but looks over-extended at $8.85.
Shorts scrambling to cover before the results are out.
Thats with GOLD at $650/oz. But every increase of Gold higher than $650 will be pure profit going straight to the bottom line. VGZ market cap is below $200M right now mostly due to shorts bashing the stock and driving it from the $10+ level to below $5 in a very short time period , which now makes VGZ extremely undervalued and a great buying point for us new investors.
I saw a gigantic 60k bid at $4.80/shr
Refinery contract worth $9.5M for Graham
Monday July 9, 10:36 am ET [more]
Just take a look at what Mining & Metal stocks have been doing the last 2 days? They are reversing the downtrend and moving up strongly. This bodes extremely well for GROW's nearterm prospects. [more]
This is one stock you don't want to be left out when its going up because it goes up very quickly. [more]
My Motley FOOL Portfolio has grown from under 500 points
on May 1st, 2007 to over 2000 points today. Looks like my stock picking strategy is working on all cylinders right now.
Dueling Fools: NYSE Euronext Bear Rebuttal
By Chuck Saletta June 28, 2007
My dueling partner Anders Bylund thinks that higher arbitrage spreads -- and therefore greater trading -- will result from the integrated global market that NYSE Euronext (NYSE: NYX) is building. Frankly, I believe the opposite is far more likely to occur.
The fewer hoops an arbitrageur needs to jump though, and the more transparent the comparisons between alternatives become, the more quickly those opportunities disappear. As a result, a seamless global market should cut down on exploitable arbitrage opportunities. While that's wonderful news for investors, I'm not quite sure I see how the exchange will benefit from the resulting reduced trading volume.
Furthermore, access to foreign and global markets and stocks is not new. Interactive Brokers (Nasdaq: IBKR) has been offering multinational market access for years. They even offer a "universal" account that takes care of currency conversions and the other necessities of direct international investing. While a global NYSE Euronext may be a strong competitor, competition tends to lower prices and margins. That's great for consumers -- but not necessarily for shareholders.
In addition, I think the consolidation angle is an oversold red herring. The big exchanges may be newly public companies, but they're not new companies. When the consolidation winds down, will the overall market have expanded enough to justify the insane valuations and takeover premiums these buyouts have fetched? The merger binge will stop someday, and when it does, what will be left to justify the outrageous multiples of the remaining, mature global titans?
All told, the euphoria surrounding NYSE Euronext and the other exchanges smells to me a lot like the late-1990s tech-stock bubble. As a value hunter, I plan to be there to pick up the pieces once the valuations return to sane levels. Until that happens, my money is staying on the sidelines.
Wait! You're not done! Go back and read the other arguments, and then vote for the winner.
NYSE Euronext is a Motley Fool Rule Breakers recommendation.
At the time of publication, Fool contributor Chuck Saletta did not own shares of any company mentioned in this article. The Fool has a disclosure policy. [more]
after a 3 month long downtrend from mid $30's to mid $20's, I believe todays news seals the downtrend and a new upward trend will now form.
CHINA's FOOD vs. FUEL
Plastics and other Oil bi-products should rise sharply and could become too expensive for its current use as OIL prices keep going Higher. Alternative films and bi-products will have to be developed in the the near future. [more]
Manufacturing report bodes well for FFHL, ICOC, DOW, DD, AA, CLF, CHAP, CF, AKS [more]
Congrats on AAPL almost $10/shr gain since last week.
it has come down from $8.48 intra-day high to $7.78.
any day now. This Well Oversold Chinese Plastic company is sporting a PE of under 2?? Thats right under 2..
Here is a partial of an article in June:
Xiaoan He, CEO and Chairman of Fuwei Films noted, "We are pleased with the progress of the new production facility. We are also pleased to note that the Company plans to report its results of the second fiscal quarter in the coming month. Notification on reporting and conference call schedule is planned to be released during the first week of July.''
New Production Line
Mr. He noted "With completion of the buildings exterior, we will now focus on construction of the power supply and other requirements necessary for the equipment that will produce 23,000 metric tons per year of thick film products mainly for use in thin film transistor-liquid crystal display (TFT-LCD) electronic screens. The specialized manufacturing equipment for the third production line is being ordered from the manufacturer in Germany and is expected to arrive by the end of December 2007. Installation of equipment and the debugging process will take place in the first quarter of 2008 and production is expected to begin in April 2008.''
Currently, China's demand for thick film (38 to 250 ) for use in electronic screens is approximately US$150 million annually. Industries manufacturing TFT-LCD screens currently rely on expensive imports, as PRC manufacturers do not at present possess such production capabilities. Upon production and commercial sales of these products, Fuwei desires to become the sole domestic supplier of such specialty film products for the electrical and electronics industries.
Research & Development Trial Production Line
It is planned that by the end of August, the new factory will satisfy the requirements for equipment installation for a trial production line. Installation of the equipment is expected to start in September. Debugging process is expected to commence from November and operation is expected to start by the end of December 2007.
Mr. He commented, ''The trial production line will primarily be used by the R&D Center for developing new products and can be used to produce small quantities of the high value-added specialty film products. This line will also be used to test and debug new products similar to those of the existing two product lines. Once proven successful, production can be moved to the commercial lines. It is expected that this will allow Fuwei to minimize the time and cost of starting a new film on the high volume production lines without test.''
The Mitsubishi Company of Japan made the equipment for this line. While it has been in usage since 1985, Fuwei has imported new components such as dies and thickness gauges and made further improvements and upgrades.
About Fuwei Films
Fuwei Films conducts its business through its wholly owned subsidiary Shandong Fuwei Films Co., Ltd. (''Shandong Fuwei''). Shandong Fuwei develops, manufactures and distributes high quality plastic films using the biaxial oriented stretch technique, otherwise known as BOPET film (biaxially oriented polyethylene terephthalate). Fuwei's BOPET film is widely used to package food, medicine, cosmetics, tobacco and alcohol, as well as in the imaging, electronics, and magnetic products industries. Fuwei has a diverse domestic and international customer base including DareGlobal, Jiangsu Qionghua Group, Klaser, Alcan, 3M, Tesa, Cips Itochi Plastics, Kurz, and P&G. [more]
SNCR looks like a short-term short at $33.35
Thats a pretty hefty buying to selling ratio.
Add in some retail buyers as well and you have the makings of a longterm big rally in the making similiar to GTI.
This is my last post for ICOC till earnings come out, when I expect them to do very well. [more]
Assurant, Baldor Electric Company, American Ecology Corp. and ICO Inc.
Jun 11, 2007 09:33:08 (ET)
CHICAGO, Jun 11, 2007 (BUSINESS WIRE) -- Earnings estimate revisions are the most powerful force impacting stock prices. Couple that with the proven benefits of upgrades in ratings from brokerage firms and you have a strategy that delivered a +23.3 return in 2006. Four stocks meeting this screen's exclusive criteria are: Assurant Inc. (AIZ, Trade ), Baldor Electric Company (BEZ, Trade ), American Ecology Corp. (ECOL, Trade ) and ICO Inc. (ICOC, Trade ). View the entire list of stocks for the Upgrades and Revisions Profit Track at http://at.zacks.com/?id=1844
Here are details on four companies currently identified by the Upgrades and Revisions Profit Track:
Assurant Inc. (AIZ, Trade ) recently announced that it raised its dividend by 20%. The new dividend amount, of 12 cents per share, was declared on May 18, 2007. In early May, the company reported first-quarter earnings of $1.42 per share, beating the consensus estimate by 20% and exceeding the previous year's total of $1.24. AIZ stated that its annualized operating return on equity for the first quarter 2007 was 18.6% and it continues to make excellent progress in its targeted growth areas. Assurant produced earnings per share growth of 54% over the past five years.
Baldor Electric Company (BEZ, Trade ), a Zacks #1 Rank (Strong Buy) company, experienced earnings per share growth of 23% over the past five years. The company announced first-quarter earnings of 52 cents per share in early May. The result topped analysts' expectations by 44% and surpassed the year-prior 34 cents per share. Sales of $396 million were up 106% year-over-year.
American Ecology Corp. (ECOL, Trade ) posted first-quarter results in late April. Earnings per share of 27 cents outperformed the year-ago result of 23 cents and eclipsed the consensus estimate by 23%. Revenue increased 81% on a year-over-year basis. The company noted that waste shipments from multiple ongoing clean-up projects, combined with increased base business allowed by ECOL's recent capital investments, positioned the company to set a quarterly record for waste volume throughput. ECOL has seen earnings per share growth of 30% over the past five years.
ICO Inc. (ICOC, Trade ) recently established a new 52-week high after reporting a record fiscal second quarter and currently trades just slightly below that level. Record quarterly revenues of $94.7 million increased by 19% on a year-over-year basis. The company noted that almost half of the revenue increase, or $7.4 million, was a result of an increase in sales and service volumes of 3%. Second-quarter earnings per share also grew on a year-over-year basis and topped the consensus estimate 14%. For the full year, ICOC satisfies the criteria of this Profit Track with a five-year growth track record of 100%.
Discover all the current stocks currently on the Upgrades and Revisions Profit Track at: http://at.zacks.com/?id=1869
About Profit Tracks
What is a "Profit Track"? Each Profit Track is a successful stock picking strategy with proven results through the Bear Market of 2001-2002 and the Bull run started in 2003. On Zacks.com we have created these nine unique screens to offer investors great strategies to potentially outperform the market in the years ahead. In 2006, the Low Price Stocks strategy was the top performing Profit Track with a return of +56.5% followed by the Discounted Fundamental screen with a +34% return. To see all nine strategies along with philosophy, past performance and current stocks, go to http://at.zacks.com/?id=1838
All the Profit Track strategies were created and backtested using the Research Wizard software from Zacks Investment Research. If you like this screening strategy, but want to narrow down the list of stocks and even improve the performance, then you should start a free trial to this powerful stock picking tool. Learn more about the Research Wizard free trial offer and our new special report "Top 10 Stock Screening Strategies" at http://at.zacks.com/?id=2156
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=1841
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Zacks Rank performance is the total return (price changes + dividends) of equal weighted portfolios, consisting of those stocks with the indicated Zacks Rank, assuming zero transaction costs. These returns are not the result of a backtest; these are actual returns since 1988. The stocks in the Zacks Rank portfolios were available to Zacks clients before the beginning of each month (monthly rebalancing). Performance results from 1988 through September 2006 are based on a subset of all Zacks Rank stocks that excludes stocks covered by only one analyst and ADR's.
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Contact: Alex Kolb
ICO in positive mood as second-quarter income at .26 eps compared to .09 year ago. Company guided that momentum will continue into the 3rd qtr.
Thursday May 3, 1:44 pm ET
ICO Inc., a global producer of custom polymer powders and plastic film concentrates, on Thursday reported net income for the second quarter, ended March 31, of $7 million, or 26 cents per diluted share, on revenue of $94.7 million.
The figures compared with net income of $2.4 million, or 9 cents per share, on revenue of $79.5 million for the second quarter of 2006, and net income of $8.2 million, or 9 cents per share, on revenue of $86.3 million in the first quarter of 2007, ended Dec. 31, 2006.
Houston-based ICO (NASDAQ: ICOC) said almost half of the increase in revenue during second-quarter 2007 stemmed from increased sales and service volumes, primarily in Europe and Australasia, while exchange rate factors contributed revenue of $4.5 million. Settlement of an insurance dispute also contributed a pre-tax gain of $2.3 million.
"Our operating results strengthened over the course of our fiscal second quarter, and we expect this momentum to carry into our third quarter," said company President and Chief Executive Officer A. John Knapp Jr.
Published May 3, 2007 by the Houston Business Journal
Not a farfetched target because in the past ADI which has 10x bigger market cap than that of SWKS has gone up 19% since the start of sales of Nintendo's WII in Nov. 2006. ADI supplied chips for the WII. But now we have the iPhone , with alot more gotta have it talk then the WII has ever had. Skyworks SWKS is the provider of the iPhone's front-end power amplifier, says RBC
Techies Rush to Dissect Apple's iPhone
Tuesday July 3, 1:11 am ET
By Jordan Robertson, AP Technology Writer
Techies Who Rushed to Dissect the iPhone Discover Companies That Supplied Chips and Components
SAN JOSE, Calif. (AP) -- While most iPhone owners couldn't wait to try out their pricey new gadgets, a few raced to break them apart.
The dismantled -- and in some cases, permanently busted -- iPhones revealed one of Apple Inc.'s closely guarded secrets: The names of the companies that supplied the chips and other electronic components for the highly anticipated device.
The findings sent all but a few of the component makers' stocks higher Monday, the first day of trading since the iPhone -- a combination cell phone, music player and wireless Web browsing device -- went on sale in the U.S. Friday evening for as much as $600 a pop.
The parts makers stand to profit handsomely if the iPhone proves popular over time. Apple itself has set a target of selling 10 million units worldwide by 2008, gaining roughly a 1 percent share of the cell phone market.
The phone was sold out in most Apple and AT&T stores by Monday afternoon, said AT&T spokesman Michael Coe. He declined to release specific sales figures.
Coe added that most of the activation problems that surfaced over the weekend had been resolved. Some iPhone buyers had trouble switching over to AT&T from their previous wireless carrier, delays that AT&T blamed on overloaded servers, a problem with the company's credit authorization system, and problems transferring customers' business accounts to consumer accounts.
"The issue is essentially behind us now," he said.
But as that problem passed, another glitch emerged. Some iPhone users in Western and Midwestern states were unable to get onto the Internet for several hours Monday because of outages on AT&T's EDGE network that were eventually fixed, Coe said. AT&T said it had not determined what caused the outages but was certain it wasn't due to an influx of iPhone users.
Despite the problems, investors flocked to the iPhone's newly unmasked parts makers.
Among the beneficiaries of Apple's business and the tear-down buzz were semiconductor heavyweights Intel Corp., Broadcom Corp., Texas Instruments Inc. and Infineon Technologies AG as well as lesser-known companies such as Skyworks Solutions Inc. and Linear Technology Corp.
Some researchers said Apple's secrecy surrounding the iPhone's component suppliers is yet another example of the Cupertino-based company's vaunted ability to keep their partners tightlipped even when facing a media frenzy and rampant speculation.
"They're very good at it -- and I think they make a point of holding their suppliers to a standard of secrecy, or you could lose the next round if you slip up," said Howard Curtis, vice president of global services for Portelligent, a research company.
The secrecy continued Monday. Most of the component makers either didn't return phone calls or declined to comment.
Much like the examinations of other much-hyped gadgets, the deconstruction of the iPhone was a mad dash to be the first to post online, with minute-by-minute updates on Web sites and the occasional howls of researchers who wound up destroying their iPhones.
Those that released detailed descriptions of the iPhone's innards included sites such as ThinkSecret.com and iFixit.com as well as research companies Portelligent and Semiconductor Insights. Several analysts also published the results of their own tear-downs.
Based on the results, one of the biggest winners is South Korean chip maker Samsung Electronics Co., which is making the main microprocessor used to run the phone's operating system and various applications. Samsung, the world's largest memory chip manufacturer, is also making a type of memory called NAND flash for the iPhone.
Santa Clara-based Intel, the world's largest semiconductor company, is supplying another form of memory, called NOR flash, according to various research firms.
Intel is in the process of unloading its troubled unit that makes the memory, which is primarily used in cell phones, amid fears about its long-term viability with the rise of NAND flash, a cheaper alternative that's commonly found in digital cameras and music players.
Intel's stock rose 53 cents, or more than 2 percent, to $24.27 in Monday trading.
Other chip makers whose stock rose on their involvement with the iPhone included Irvine-based Broadcom Corp., which is making a controller chip believed to be used for managing the touch-screen display. Broadcom's stock price rose 52 cents, or 1.8 percent, to $29.77.
Texas Instruments is supplying a power-management chip. Shares of TI gained 43 cents, or 1.1 percent, to $38.06.
German chip maker Infineon Technologies, which makes parts that handle cellular communications for the iPhone, saw its American Depositary Shares rise 50 cents, or 3 percent, to $17.03.
But it wasn't just the heavyweights who benefited.
Woburn, Mass.-based Skyworks Solutions Inc. was revealed as the supplier of a power amplifier used in the iPhone. Skyworks' shares jumped 26 cents, or 3.5 percent, to $7.61.
Shares of Milpitas-based Linear Technology Corp. rose 50 cents, or 1.4 percent, to $36.68 after the company was identified as the maker of the iPhone's battery charger chip.
Another company profiting from the iPhone is Cambridge Silicon Radio Ltd. out of England. Researchers said the company is responsible for making chips that allow Bluetooth wireless connectivity for the iPhone.
But the iPhone halo didn't touch everyone Monday.
Apple, for one, fell 78 cents, or less than a percentage point, to $121.26.
Shaw Wu, an analyst with American Technology Research, attributed the slight drop to profit-taking after a prosperous run over the past year, during which Apple's stock price has more than doubled. On Monday his firm raised its price target for Apple to $165 per share.
Marvell Technology Group Ltd., the Santa Clara-based provider of chips that allow the iPhone to connect over Wi-Fi networks, dropped 13 cents, or less than a percentage point, to $18.08. And Santa Clara-based National Semiconductor Corp., which is apparently making a display chip for the iPhone, fell a penny to $28.26. [more]