dividends paid
NISSAN MOTOR CO. (ADR) $20.32 (Nasdaq symbol NSANY; TSINetwork Rating: Above Average) (310-771-3111; www.nissan-global.com; Shares outstanding: 2.3 billion; Market cap: $46.6 billion; No dividends paid) is reviving its dormant Datsun brand with the launch of an under-$6,700 hatchback in India. Other Datsun models will follow over the next three years.
The company will use the Datsun name to compete for sales of lower-cost cars in emerging markets, partly to avoid tarnishing its Nissan brand’s reputation for higher-quality vehicles.
The reintroduction also puts Nissan in a good position to profit from rising car demand in other emerging markets, such as Russia, Southeast Asia, Latin America, the Middle East and Africa.
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The company will use the Datsun name to compete for sales of lower-cost cars in emerging markets, partly to avoid tarnishing its Nissan brand’s reputation for higher-quality vehicles.
The reintroduction also puts Nissan in a good position to profit from rising car demand in other emerging markets, such as Russia, Southeast Asia, Latin America, the Middle East and Africa.
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DELPHI ENERGY $1.39 (Toronto symbol DEE; TSINetwork Rating: Speculative) (403-265-6171; www.delphienergy.ca; Shares outstanding: 153.1 million; Market cap: $211.3 million; No dividends paid) explores for oil and natural gas in Alberta and B.C. Gas makes up 72% of Delphi’s daily output; the remaining 28% is oil.
In the three months ended June 30, 2013, Delphi’s average daily output fell 11.6%, to 7,635 barrels of oil equivalent (including gas) from 8,636 barrels a year earlier. Disruptions at third-party processing facilities, which cut the company’s output by 1,495 barrels a day, were the main reason for the decline. Those issues are now resolved.
Higher oil and prices offset the lower output, and that kept cash flow unchanged at $0.05 a share.
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In the three months ended June 30, 2013, Delphi’s average daily output fell 11.6%, to 7,635 barrels of oil equivalent (including gas) from 8,636 barrels a year earlier. Disruptions at third-party processing facilities, which cut the company’s output by 1,495 barrels a day, were the main reason for the decline. Those issues are now resolved.
Higher oil and prices offset the lower output, and that kept cash flow unchanged at $0.05 a share.
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BELLATRIX EXPLORATION $6.97 (Toronto symbol BXE; TSINetwork Rating: Speculative) (403-266- 8670; www.bellatrixexploration.com; Shares outstanding: 107.9 million; Market cap: $756.5 million; No dividends paid) produces natural gas (70% of output) and oil (30%) in Alberta, B.C. and Saskatchewan.
Bellatrix continues to enter into joint ventures to speed up the development of its Cardium shale oil deposits in west-central Alberta.
It has agreed to sell a 50% interest in its producing wells in the Ferrier and Willesden Green area to Daewoo International Corp. and Devonian Natural Resources Private Equity Fund for $52.5 million.
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Bellatrix continues to enter into joint ventures to speed up the development of its Cardium shale oil deposits in west-central Alberta.
It has agreed to sell a 50% interest in its producing wells in the Ferrier and Willesden Green area to Daewoo International Corp. and Devonian Natural Resources Private Equity Fund for $52.5 million.
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CHIPOTLE MEXICAN GRILL $403.00 (New York symbol CMG; TSINetwork Rating: Speculative) (303-595-4000; www.chipotle.com; Shares outstanding: 30.9 million; Market cap: $12.6 billion; No dividends paid) is a Denver- based Mexican restaurant chain. It charges slightly higher prices than fast food companies, but it offers better quality food, including naturally raised meat, and superior decor and service.
In the three months ended June 30, 2013, Chipotle’s sales rose 18.2%, to $816.8 million from $690.9 million a year earlier. The company’s restaurants attracted more customers during the quarter, which pushed up same-restaurant sales by 5.5%. Moreover, Chipotle opened 44 new outlets and now has 1,502 locations. For all of 2013, it plans to open 165 to 180 restaurants. Earnings rose 7.6%, to $87.9 million, or $2.84 a share, from $81.7 million, or $2.68.
The company’s earnings would have been even higher, but it spent 33.1% of its sales on food and ingredients in the latest quarter, up from 32.1% a year ago. Prices rose particularly sharply for chicken, dairy products and salsa ingredients.
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In the three months ended June 30, 2013, Chipotle’s sales rose 18.2%, to $816.8 million from $690.9 million a year earlier. The company’s restaurants attracted more customers during the quarter, which pushed up same-restaurant sales by 5.5%. Moreover, Chipotle opened 44 new outlets and now has 1,502 locations. For all of 2013, it plans to open 165 to 180 restaurants. Earnings rose 7.6%, to $87.9 million, or $2.84 a share, from $81.7 million, or $2.68.
The company’s earnings would have been even higher, but it spent 33.1% of its sales on food and ingredients in the latest quarter, up from 32.1% a year ago. Prices rose particularly sharply for chicken, dairy products and salsa ingredients.
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CGI GROUP INC. $31 (Toronto symbol GIB.A; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 309.3 million; Market cap: $9.6 billion; Price-to-sales ratio: 1.5; No dividends paid; TSINetwork Rating: Extra Risk; www.cgi.com) is Canada’s largest provider of computer outsourcing services. CGI helps its clients automate routine functions, like accounting and buying supplies. That makes them more efficient and lets them focus on their main businesses.
CGI continues to profit from its August 2012 acquisition of Logica plc, a U.K.-based firm that provides computer-outsourcing services in 36 countries.
Thanks to this $2.7-billion purchase, CGI’s earnings rose 66.3% in its 2013 second quarter, which ended March 31, 2013, to $175.9 million from $105.7 million a year earlier. Due to more shares outstanding, earnings per share rose at a slower rate of 40.0%, to $0.56 from $0.40. These figures exclude unusual items, such as costs to integrate Logica.
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CGI continues to profit from its August 2012 acquisition of Logica plc, a U.K.-based firm that provides computer-outsourcing services in 36 countries.
Thanks to this $2.7-billion purchase, CGI’s earnings rose 66.3% in its 2013 second quarter, which ended March 31, 2013, to $175.9 million from $105.7 million a year earlier. Due to more shares outstanding, earnings per share rose at a slower rate of 40.0%, to $0.56 from $0.40. These figures exclude unusual items, such as costs to integrate Logica.
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Like Cisco (see page 71), sales and earnings growth at these four technology giants have waned, as they turn into traditional cyclical growth stocks that are more sensitive to swings in the overall economy.
However, they are still leaders in their fields....
However, they are still leaders in their fields....
BELLATRIX EXPLORATION $6.74 (Toronto symbol BXE; TSINetwork Rating: Speculative) (403-266-8670; www.bellatrixexploration.com; Shares outstanding: 107.9 million; Market cap: $715.5 million; No dividends paid) has entered into a joint venture agreement with Grafton Energy that should speed up the development of its Cardium shale oil deposits in Alberta.
Under the agreement, Grafton will pay Bellatrix $100 million....
Under the agreement, Grafton will pay Bellatrix $100 million....
INTUITIVE SURGICAL $415.54 (Nasdaq symbol ISRG; TSINetwork Rating: Average) (515-507-5000; www.intuitivesurgical.com; Shares outstanding: 40.2 million; Market cap: $17.0 billion; No dividends paid) is down over 16% since it released a preliminary revenue forecast for the latest quarter that was below the consensus estimate.
In the second quarter of 2013, the company expects to report revenue of about $575 million, up 7% from $537 million a year earlier....
In the second quarter of 2013, the company expects to report revenue of about $575 million, up 7% from $537 million a year earlier....
AEROPOSTALE $14.15 (New York symbol ARO; TSINetwork Rating: Extra Risk) (646-485-5410; www.aeropostale.com; Shares outstanding: 78.5 million; Market cap: $1.1 billion; No dividends paid) now plans to launch the Aeropostale brand in Mexico through a licensing agreement with Distribuidora Liverpool, S.A....
APPLE INC. $441 (Nasdaq symbol AAPL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 940.1 million; Market cap: $414.6 billion; Price-to-sales ratio: 2.4; Dividend yield: 2.8%; TSINetwork Rating: Average; www.apple.com) gets 69% of its sales from its hugely popular mobile devices: the iPhone smartphone and the iPad tablet computer. The remaining 31% comes from its Mac computers and iPod music players.
In its 2013 third quarter, which ended June 29, 2013, Apple’s sales rose 0.9%, to $35.3 billion from $35.0 billion a year earlier. Thanks to strong demand for older, cheaper models, the company sold 31.2 million iPhones, up 20.0% from a year earlier. However, iPad sales fell 14.2%, to 14.6 million units. Apple also sold 6.6% fewer Mac computers, and 32.3% fewer iPods as many iPod users upgrade to iPhones.
Even with the higher sales, earnings in the quarter fell 21.8%, to $6.9 billion from $8.8 billion. Earnings per share fell 19.8%, to $7.47 from $9.32, on fewer shares outstanding.
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In its 2013 third quarter, which ended June 29, 2013, Apple’s sales rose 0.9%, to $35.3 billion from $35.0 billion a year earlier. Thanks to strong demand for older, cheaper models, the company sold 31.2 million iPhones, up 20.0% from a year earlier. However, iPad sales fell 14.2%, to 14.6 million units. Apple also sold 6.6% fewer Mac computers, and 32.3% fewer iPods as many iPod users upgrade to iPhones.
Even with the higher sales, earnings in the quarter fell 21.8%, to $6.9 billion from $8.8 billion. Earnings per share fell 19.8%, to $7.47 from $9.32, on fewer shares outstanding.
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