Wed. LULU was up to a high of $70 given an overweight and a target price of $84 at JP Morgan. Thur. LULU was down more than the gain the previous day from downgrade at Sterne Agee. Concensus from analysts?
An article from Reuters on Thurs titled 'Lululemon shares slide on downgrade as gaffes, CEO search weigh' commented that 'Lululemon, which reports third quarter results on December 12, has a price-to-earnings ratio of 28.3 versus the 18.3 median of its peers, according to Thomson Reuters data. Thirteen out of 29 analysts have a "strong buy" or "buy" rating on Lulu, while 12 have a "hold" rating and four have a "sell" or a "strong sell."'
Thanks to CollectorBob on Stockhouse Bullboard. He alerted us to this article on FT website dated October 18, 2013 12:06 pm.
"The first shipments of copper concentrate from Rio Tinto’s giant Oyu Tolgoi mine in Mongolia can now move into China after a three-month bureaucratic hold-up at a remote border crossing in the Gobi desert.
The release solves a snag in Rio’s operations at Oyu Tolgoi, which began production in July, but the miner still faces more hurdles ahead.
Rio has put the second $6bn phase of the mine on hold as it negotiates financing and other terms with the government of Mongolia."
NOTE: FT does not like cut and paste of its content. MB here does not allow URL in posting. Rules, rules....
Googling David Einhorn and LULU, short rumor hammering LULU is a recurring theme. Jun 28 and Sep 28, 2012. Recent event in 2013?
Mosaic lowered the outlook for potash and phosphate.
Oct 7 (Reuters) - ...Mosaic #$%$ Monday lowered its outlook for 2013 global potash shipments, citing weaker demand in India and a delay in settling a second-half contract between its export agency Canpotex Ltd & China's Sinofert Holdings Ltd.
Mosaic CFO Larry Stranghoener... speaking to analysts in New York, said the company sees global potash shipments of 54 million to 55 million tonnes, down from its previous estimate of 55 million to 57 million tonnes but higher than 2012's 51 million.
Potash prices have slipped since mid-summer when Russian producer Uralkali OAO quit its export partnership with Belarus and said it would seek to maximize sales volumes.
"I think one year from now, we are going to see the issues that came up in eastern Europe, that's going to be ancient history, life's going to go on," said CEO Jim Prokopanko...
For 2014, Mosaic, the second largest N.A. potash producer after Potash Corp of Saskatchewan, sees global potash shipments rebounding to 57 million-59 million tonnes.
Potash Corp, Mosaic and Agrium Inc sell potash to offshore markets through the export consortium Canpotex...
Mosaic also lowered its 2013 outlook for global phosphate shipments by about 2 million tonnes to 63 million-64 million tonnes, versus 63 million tonnes in 2012, mainly due to a decline in shipments to India. For 2014, Mosaic, the world's largest producer of finished phosphate products, expects global shipments to rise to 64 million-66 million tonnes.
Shipments of crop nutrients to India have taken a hit because of the decline of the rupee, which has made imported products more expensive there.
Mosaic and Potash Corp disbanded their joint exporter of North American phosphate, PhosChem, last week... the decision was made because Mosaic was now providing more than 90 percent of the association's volume.
Last month, Mosaic cut its Q3 sales and price outlooks for potash and phosphate, citing the effects of the BPC breakup.
We have a good Sep. so far. Now people are speculating Oct. may be time for pullback considering the debt ceiling head wind. The debt ceiling debate may be a non-event like the sequestration fight last year. Crytal ball wanted!!!
Couldn't believe it. LULU is the only retailer up $4 and more, +6%. There is no news. I assume it is short squeeze.
The launch of BB10 was mishandled and momentum was lost at the start. Hope of recovery is lost. Now the 'quick' auction of the company is going nowhere with the lack of buyers stepping up. May be the real deal making is hush and hush. They have managed to keep the whole thing in tight lid.
FBR Capital Markets downgraded to market perform from outperform. Valuation call, as the stock has rebounded 51% over the past two months. Isn't that obvious to someone not an analyst? SP promptly drops. Interesting.
South China Morning Post
Only in Hong Kong would anyone consider building a 'boutique hotel' on Victoria Peak
Thursday, 05 September, 2013
Investment bank Nomura is beginning to see a favourable turn in its fortunes. It was the only investment bank to post a double-digit rise in its fixed income revenues in the first half of the year. They were up 12 per cent, against the industry average growth of -9 per cent, according to a report in Financial News.
Over the 12 months to the end of June, its FICC (fixed income currency, commodities) business grew one-third, and it has doubled its market share of FICC revenues since 2010. The bank has been profitable for the past four quarters.
That may not sound remarkable but as the newspaper observes, for a bank that has been struggling since it bought the rump of Lehman's business five years ago for the deceptively low price of US$2, that's not bad going.
Seeking Alpha is not sold on the rebound in coal just yet, and think most of the recent buying has been speculators playing the China story.
Seeking Alpha: Commodities Today: Oil, Rare Earths And Coal Moving Sep 10 2013, 10:31
Three month highs for both ANR and CLF, however investors have really flocked to Cliffs with its exposure to both iron-ore and coal.
With the uptick in the Chinese economy we have seen commodities rally, with coal being a big beneficiary of the change in sentiment. Names such as Cliffs Natural Resources (CLF), which also benefits from its iron-ore exposure, and Alpha Natural Resources (ANR) have seen some of the biggest gains but one also has to understand that these two also have pretty volatile histories. We are not sold on the rebound in coal just yet, and think most of the recent buying has been speculators playing the China story. We would continue to wait until true long-term buyers are moving in due to solid fundamentals because each time we have seen a speculative rally that capital has been quick to exit at the first sign of trouble...hardly the type of fellow investors we would like.