"Consolidated backlog on October 31, 2013 was $733.2 million, up 41.9% from $516.7 million at the end of the first quarter last year. Towable RV backlog increased 13.5% to $419.8 million, compared to $369.9 million at the end of the first quarter of fiscal 2013. Motorized RV backlog increased 113.6% to $313.4 million from $146.8 million a year earlier. "
1. Diversified products. Minimal dependency on potash is one attribute.
2. Diversified geographic footprint takes it all over the world.
3. Excellent management, including diversification keeps its growth steady with greater certainty,
Cooper accomplished one major milestone in this fiasco: It looks like it learned THE China lesson in getting out of that JV with hoodlums (it may be that the Chinese and Indians were in that lockout jointly).
It is now an absolute bargain in its own right.
Vomit on the India deal and move ahead.
Sentiment: Strong Buy
Piece of #$%$. It appears to me that Yahoo is trying to self destruct.
The most wealthy people use this site.
To Yahoo: Fix the accuracy of and completeness of data and STOP changing things without notice.
YOU ARE GOING TO DESTROY YOURSELF.
CTB should be trading for $38 by now.
End this foolishness and go with another buyer.
A hundred equity funds, as well as other tire companies would be willing to pay $35 in a heartbeat.
5. Institutional activity.
Net Institutional Purchases - Prior Quarter to Latest Quarter:
Shares: Net Shares Purchased = 3,610,960
1. Short % of Float (as of Oct 15, 2013)3: 22.40%
2. Consecutively and easily beats estimates = consistency.
3. Mobile security is THE major focus of ALL mobile device manufacturers, telecoms, consumers & business
4. Virtually all security companies are taken over so long as they have a customer base and a robust security product line (which AVG Technologies has)
Sentiment: Strong Buy
Value is in the eyes of the beholder.
Profit margins are too complicated.
You have a need to boost your truck tire market worldwide.
Offer $38 just to make it happen instantly.
Likely worth more than that to China for these reasons:
1. CTB has a major plant in China.
2. China is close to a major new market for CTB: Russia.
3. CTB major trade route to / from USA makes efficiency greater efficiencies.
4. USA gaining on Asia in carbon based products (oil & gas surplus) makes sense for China for hedge on input costs for tire production (and other carbon based products).
5. India has minimal export knowledge other than human resources whereas China does.
Mumbai, Oct 1:
Shares of Apollo Tyres today slumped nearly 9 per cent on concerns over debt burden after Cooper Tire and Rubber Co shareholders approved the company’s $2.5-billion sale to the Indian company.
After making a weak opening, the scrip further tanked 8.33 per cent to Rs 61 on the BSE. On the NSE, the stock plummeted by 8.92 per cent to Rs 60.70.
The scrip, however, later pared some of the losses and was trading at Rs 64.95, down 2.4 per cent, on the BSE.
“The huge debt burden could strain the balance-sheet of the combined entity,” said Kishor Ostwal, CMD, CNI Research.
“A positive response from the shareholders clears the path for Apollo Tyres to complete the merger process and expects to close the transaction by year-end.
“However, hurdles still remain for Apollo Tyres due to opposition from workers at Cooper Tire and Rubber Company joint venture in China and US labour issues which could hamper the deal,” Angel Broking said in a report.
“We are pleased stockholders endorsed this compelling transaction (Cooper’s sale to Apollo Tyres), which will create a $6.6-billion leader in the tyre industry with a strong global footprint.
“This will include a presence in the world’s largest tyre market of North America as well as in the fastest growing geographies of India and China,” Cooper Chairman, CEO and President, Roy Armes, had said yesterday.
Approximately, 78 per cent of Cooper’s outstanding common shares were voted, with more than 48 million shares voted in favour of the merger, representing approximately 96 per cent of Cooper’s voted shares, the company had said.
The combined company will be the seventh-largest tyre company in the world and will have a strong presence in high growth-end markets across four continents.
On June 12 this year, Apollo Tyres had announced that it would acquire Cooper Tire & Rubber Company in an all-cash transaction valued approximately at Rs 14,500 crore ($2.5 billion).
The deal, however, wasn’t taken positively by