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Becton, Dickinson and Company Message Board

algo41 53 posts  |  Last Activity: Jul 24, 2014 6:16 PM Member since: Jun 12, 2000
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  • Reply to

    Warren taking a bigger position in ATNY?

    by steve_382n May 8, 2014 4:05 PM
    algo41 algo41 May 13, 2014 6:12 PM Flag

    I am not disagreeing with you, Steve, but what is the advantage? some possibilities

    1) taking actions which benefit you but not the company you are controlling.

    2) buying out some other stockholders based on your superior insight into the future of the company - possibly this happened with SLI, but it is not as if management knew about some big, undisclosed event.

    3) greasing the way for consolidation as you suggest. I can't recall the details, but there was a Warren instigated consolidation in SXCL history in which he was combing 2 companies in which he owed a different percentage, so I and others were suspicious that the terms favored the company he had a larger stake in.

  • Reply to

    Projected cost savings

    by algo41 May 1, 2014 9:58 AM
    algo41 algo41 May 12, 2014 5:06 PM Flag

    That makes sense. I would have hoped local mgr. had the authority to implement that by themselves.

  • Reply to

    Earnings

    by sage533 May 6, 2014 11:38 AM
    algo41 algo41 May 12, 2014 4:26 PM Flag

    eps was reduced by about .01 by close of Illinois facility. Also, no R&D credit. If military sales had not declined, rev growth would have been an extra 1% higher. Can we expect auto component sales to keep increasing? Auto production is high, and as they say, last year 1st qtr sales were "abnormally weak".

  • Reply to

    Another Regional Mgr gone

    by beauregardrex May 1, 2014 1:15 PM
    algo41 algo41 May 6, 2014 4:57 PM Flag

    What makes JT a bad boss? Is "used car salesman" to be taken literally as relating to last hire?

  • Reply to

    Earnings out

    by stillwater9999 May 5, 2014 4:37 PM
    algo41 algo41 May 6, 2014 8:37 AM Flag

    "fluid delivery products accounted for 39 percent, 41 percent and 38 percent of net revenues for 2013, 2012 and 2011, respectively. ". Fluid delivery did have a big bump this quarter

  • If I understand things correctly, there were a number of signficiant impacts on the eps REPORTED:
    168k: Recoveries of provisions for losses on accounts receivable
    106k: Gain on sale of available-for-sale securities
    (363k) : loss on fx contracts
    (463k): restructuring

    It seems that an adjusted eps would have been higher than the GAAP eps. Also, last year there was a retroactive gain from R&D tax credit, worth about .02eps.

    On the other hand, the volatility within the different divisions is a bit scary. Maybe this is just because they report in detail, and the company is large enough, with enough moving parts, that aggregate volatility is manageable.

  • Reply to

    10Q out for Q1

    by steve_382n May 2, 2014 4:22 PM
    algo41 algo41 May 3, 2014 5:08 PM Flag

    Steve, thanks. I use Chrome right now, but I tried to set up an RSS feed. Will see if it works this week. I never noticed the date before.

  • Reply to

    10Q out for Q1

    by steve_382n May 2, 2014 4:22 PM
    algo41 algo41 May 2, 2014 6:09 PM Flag

    I was wondering whether the price action had anything to do with the 10-q. Steve, how can you know exactly when an SEC report is filed?

  • Reply to

    cc

    by algo41 May 2, 2014 12:00 PM
    algo41 algo41 May 2, 2014 4:36 PM Flag

    "Most of the variance in sugar & bioenergy was related to mark-to-market losses on industrial hedges."

    "And then separate from that is you got the mark-to-market on the derivative that can move around in any quarter and it does come back.........It's just that the accounting rules don't fit our ocean freight business that well and could simplify why that's the case is your mark-to-mark derivatives to market, but mark-to-market your lease contracts to market. So you're marking half of the transaction in effect."

    Transcription of CC not always great, so 2nd quote is a bit garbled, but I believe the point is that they use freight charters to protect against variability in freight costs, and derivatives as an offset, but the 2 don't line up so that economic consequences of charters is distorted in any given quarter.

  • algo41 by algo41 May 2, 2014 12:04 PM Flag

    At first they claimed wings sales were going according to internal projections. They were never called to account for that remark to explain how that could have been, given what actually materialized. Casts doubt on any claims made not supported with statistics. Why hasn't chief exec been replaced yet? It is a difficult environment, but they tried to ignore that too long, flailing around and doing counter productive things. Same thing happened at Wendy's at one point. This is what happens when you start to believe your own slogans.

  • algo41 by algo41 May 2, 2014 12:00 PM Flag

    They provide non-GAAP results, so why can't they handle the distortions of mark to market better in adjusted eps? My impression is that the CFO is sharp, while the Chief Exec is not, and he is political rather than forthright.

  • Gets me nervous in so far as it relates to labor savings. They have already cited improved labor scheduling as being implemented. My experience is that service is good, and morale also seems good (one employee was frazzled), but they already skimp on monitoring men's bathroom as far as bin with discarded towels.

    I hope they don't sacrifice brand equity for short term cost savings.

  • Reply to

    notes from CC

    by cragi Apr 29, 2014 5:22 PM
    algo41 algo41 Apr 30, 2014 9:47 AM Flag

    They are predicting .20eps for 4th qtr (midpoint) and sequential growth each quarter from that in 2015, that is what got me most excited. They are expanding their capacities now in several areas.

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