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(S) Sprint-Nextel Second Quarter 2010 Earnings Beat – Grows Subscribers

July 25th, 2010

Sprint Nextel (S), the third-largest U.S. wireless carrier, reported second-quarter 2010 adjusted net loss per share of 15 cents, which surpassed the Zacks Consensus Estimate of a net loss of 19 cents. Adjusted earnings excluded a one-time tax related to non-cash charge of $302 million (10 cents per share). Sprint reported its second-quarter results before the market open on July 28.

On a GAAP basis, Sprint posted a net loss of $760 million (25 cents per share), 98% beyond the net loss of $384 million (13 cents) in the year-ago quarter.

Consolidated operating revenue dipped 1% year over year to $8.025 billion due to lower contributions from its wireline and post-paid wireless businesses, which were partially offset by higher revenues from prepaid service and equipment. However, the revenues were modestly higher than the Zacks Consensus Estimate of $8.018 billion.

Adjusted OIBDA (operating income/loss before depreciation, amortization, asset impairments and abandonments) fell 15% year over year to $1.5 billion.

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Tags: 2010, Quarter 2010

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Market Broke Upward

July 23rd, 2010

Market broke upward on the daily charts, which is really leading the weeklies to a turn. Many indicators are also turning, however, these big up moves that turn indicators in-conjunction this late to the party, often spells whipsaw. I went to cash today, this morning in the index funds. Lost some money today due to today’s morning action trumping yesterday’s gain.

Its just a difficult time right here and I was positioned a little too heavy for the situation. I’ll limit it to 30% from here on out until the trend starts acting like the trend.

Although this is the spot that can be precarious it also the spot if you are short to stop out. At least it is for me.

Tags: Broke, Market Broke

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Bell California Emails Gone Viral; Citizens Protest $800K Salaries; City Manager Resigns; Can Anything be done about $600,000 Public Pensions?

July 23rd, 2010

I have received over a hundred Emails in the last few days regarding the city of Bell, California. I usually stay away from these kind of stories because most have seen them.

However, in the interest of stopping a further chain of emails, and more importantly discussing what if anything can be done, let’s do a quick recap of events.

July 20, 2010 – Citizens Protest City Administrator, Council Member Salaries

Californians Protest City Manager’s $800,000 Salary

Hundreds of residents of one of the poorest municipalities in Los Angeles County shouted in protest last night as tensions rose over a report that the city’s manager earns an annual salary of almost $800,000.

An overflow crowd packed a City Council meeting in Bell, a mostly Hispanic city of 38,000 about 10 miles (16 kilometers) southeast of Los Angeles, to call for the resignation of Mayor Oscar Hernandez and other city officials. Residents left standing outside the chamber banged on the doors and shouted “fuera,” or “get out” in Spanish.

It was the first council meeting since the Los Angeles Times reported July 15 that Chief Administrative Officer Robert Rizzo earns $787,637 — with annual 12 percent raises — and that Bell pays its police chief $457,000, more than Los Angeles Police Chief Charlie Beck makes in a city of 3.8 million people. Bell counci

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Tags: City, City Manager

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The Number One Reason You Should Learn How to Short

July 22nd, 2010

There are many good reasons to learn how to go short. One of the best ones is maintaining objectivity.

The vast majority of investors will never short a stock (or an index, a commodity or a currency for that matter). A modest contingent will experiment with options and inverse ETFs. But very few will ever take the time and effort to truly explore the “dark side” of financial markets.

That’s a shame, because the dark side has much to recommend it. Not from a perma-bear standpoint, mind you, but an opportunistic one.

From your humble editor’s point of view, the best stance is a flexible stance. Or perhaps think of it like tennis. The ability to go long is like having a good forehand; the ability to go short is like having a good backhand. Can you imagine a tennis player with no backhand? He would be vulnerable in half the positions on the court.

Having the ability to go long or short expands your horizons greatly. It increases the number of opportunities you can take advantage of, which in turn increases your odds of long-run success.

How the Little Town on Your Daily Commute Could Make You a Millionaire…

Did you know there’s a town you drive through every day that could make you rich? It doesn’t

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Tags: Short

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(FLIR) FLIR Systems’ Second Quarter 2010 Earnings Beat – Raises Revenue Outlook

July 21st, 2010

FLIR Systems Inc. (FLIR) reported a 5.7% increase in its earnings of 37 cents per share for the second quarter of 2010, beating the Zacks Consensus Estimate of 35 cents per share.

Revenue

Total revenue for the quarter increased 19% year over year to $331.1 million. About $27 million of revenue was derived from Raymarine acquisition, excluding which total revenue increased 9%.

FLIR Systems experienced revenue growth in all its segments. The company’s Commercial Systems division recorded highest year-over-year revenue growth of 16% to $136.0 million followed by a growth of 7% at the Thermography division to $71.4 million. Government Systems division revenues increased 5% to $167.9 million during the quarter.

Backlog

At the end of the quarter, total backlog of the company, which will expire in next twelve months, decreased sequentially by $25 million to $518 million, with $17 million added through Raymarine acquisition. S

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Tags: Revenue, Second Quarter

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Top-Down Storms Imperil Bottom-Up Optimism

July 20th, 2010

“Bottom up” investors have grown excited in recent days by strong corporate reports like Intel’s. But “top down” considerations, with an especial focus on consumers, banks and the U.S. housing market, still look ominous.

In a book called The Research Driven Investor – now out of print – Timothy Hayes describes the market as a giant mountain. The purpose of this metaphor is to help distinguish between “top down” and “bottom up” investing and trading disciplines.

In the market-as-mountain metaphor, bottom-up investors are like hikers and climbers starting at the base of the mountain. Their main focus – individual companies – is akin to examining the rock formations and terrain directly in front of them.

The top-down approach is different. Rather than starting with on-the-ground conditions at the base, top-down analysis begins well above the mountain’s peak. As opposed to individual companies, the top-down analyst is more focused on “general conditions”… the ebb and flow of credit, risk appetite, economic weather patterns, and so on. One could picture this as a 10,00

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