|Bid||3.6000 x 38500|
|Ask||3.6100 x 21500|
|Day's Range||3.5750 - 3.6250|
|52 Week Range||2.8200 - 5.6300|
|Beta (3Y Monthly)||1.05|
|PE Ratio (TTM)||16.43|
|Forward Dividend & Yield||0.05 (1.39%)|
|1y Target Est||5.50|
CEMEX, S.A.B. de C.V. (“CEMEX”) (CX) announced today that its U.S. affiliate, Kosmos Cement Company (“Kosmos”), a partnership with a subsidiary of BUZZI UNICEM S.p.A. in which CEMEX holds a 75% interest, has signed a definitive agreement for the sale of certain assets to Eagle Materials Inc. for approximately US$665 million. The proceeds to CEMEX from this transaction will be approximately US$499 million.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. It was a historic moment for Mexico: the first time workers were given the right to vote on a labor contract negotiated by their union under a new law.The vote, held one early September afternoon at a factory owned by cement giant Cemex, was also meant to signal to Democratic Party officials in the U.S. -- and to the labor leaders who support them -- that Mexico was making good on promises to strengthen union representation rules under the proposed new North American free trade agreement. Without tougher labor standards, House Democrats have threatened to reject the U.S.-Mexico-Canada Agreement, known as USMCA, jeopardizing efforts to modernize the 25-year-old pact.The final vote that day was overwhelmingly in favor -- 165 to 2 -- but there was a catch: Some Cemex workers didn’t fully understand what they were voting on. And some said their union made false claims that they could lose their benefits if they rejected the contract. The union denies it ever made such claims.To some American unions, the vote was further evidence that the trade deal doesn’t contain enough enforcement measures to win their support -- which is pivotal to passage. They say, ironically enough, that Mexico’s unions represent the biggest stumbling block. Long criticized for not representing worker needs, the local unions are pushing through votes on labor contracts quickly before stronger competitors emerge.“I certainly don’t think it’s going to satisfy the unions in the U.S.,” said Ben Davis, director of international affairs at the United Steelworkers, an AFL-CIO affiliate. “There’s a real risk that effectively it’ll be the workers called together, handed a contract, and told to vote in favor of this or you’ll lose your benefits.”Deal StatusThe trade deal remains in limbo in Washington. Democrats have been meeting Trump administration officials to try to reach a deal to ratify it, which Mexico’s congress has already done.House Speaker Nancy Pelosi has praised Mexico’s recent labor reforms while raising concern about their implementation. If AFL-CIO leader Richard Trumka approves, the USMCA vote could be done by Christmas, Democrats said Tuesday, a sign of how important U.S. labor forces are in the appraisal of the accord. But Trumka said earlier in the day that more work needs to be done.Read more: That’s $15 an Hour? Nah, Per Day. And U.S. Congress Is Fed UpThe U.S. wants the new agreement to eventually boost Mexican wages -- they are on average one-fifth of those in the U.S. -- so fewer American companies move across the border for cost savings. To accomplish that, USMCA proposes to beef up worker rights by stamping out what’s known in Mexico as “protection contracts.”That’s a practice in which Mexican union leaders close to management negotiate contracts with no requirement that they gain approval from workers. In many cases, in fact, workers don’t even know they are unionized. The system was written into law after Mexico’s 1910 revolution in order to give unions more power and ostensibly to help workers. Companies have supported it as a way to prevent work stoppages that can be ordered up by any union.In May, Mexico enacted a labor-reform measure requiring that workers “validate” in secret votes each contract that was put in place under the old regime – as many as 550,000. It also requires a secret vote for workers to choose their unions and for future contracts. President Andres Manuel Lopez Obrador pledged $900 million to enforce the reforms.Court InjunctionsBut local unions are vigorously fighting the changes on several fronts. The CTM, Mexico’s largest union confederation, along with other unions that have benefited from the old system, have filed more than 400 requests for court injunctions to block the law, most claiming it infringes on their right to self-govern. Few have succeeded.And, citing the Cemex vote as an example, international unions say the locals aren’t adhering to the spirit of the law that requires the validation votes. They are, instead, forcing through a vote before truly independent labor groups can provide competition, critics contend.“They gave us almost no warning the vote was coming,” said Alejandro Badillo, who works at the quarry of the Cemex plant in the central state of Hidalgo.He said he was told by his labor representatives that another union more aligned with the company’s interests was trying to make inroads to organize, which scared him into voting in favor of his contract. “The union told us if we voted for another union, we’d lose everything we’d earned.” Cemex declined to comment on this story.In fact, a no vote against the contract would not eliminate any benefits, said Mexico’s Labor Ministry, which sent a copy of the ballot to Bloomberg that states that for all workers to see. The ministry is designing information and training campaigns to prepare workers for the votes, and says for now it’s been sending inspectors to oversee them.Informed VotingJuan Carlos Reyes said he was given ample time to review the contract. But he, too, was warned by the Cement Industry Workers’ Union that voting no would be “throwing 25 years of union fighting out the window.”Workers need to be informed that voting against their contracts is a one-time chance to renegotiate them, and to easily switch unions if they so choose, said Gladys Cisneros, director of the Solidarity Center, the AFL-CIO’s labor advocacy group in Mexico.The overriding problem, she added, is that the same unions that have kept workers out of the organizing process for decades shouldn’t be the only ones deciding how and when to hold the vote. That risks turning the process into another form of rubber-stamping.Alfonso Cruz, representative of the Cement Industry Workers’ Union, said the union chose to hold the vote so quickly at the Cemex plant because it had been properly representing workers all along. While rival syndicates have been vying to organize at other Cemex plants, he said none has approached the factory in central Mexico where Badillo works.“We have nothing to hide,” he said, pointing to the overwhelming yes vote. “Labor contracts are always posted in places where everyone can see them.”(Updates with comment from cement union in third paragraph, Cemex no comment.)To contact the reporter on this story: Nacha Cattan in Mexico City at email@example.comTo contact the editors responsible for this story: Daniel Cancel at firstname.lastname@example.org, ;Juan Pablo Spinetto at email@example.com, Larry Reibstein, Robert JamesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CEMEX, S.A.B. de C.V. announced today the pricing of U.S.$1.0 billion of its 5.450% Senior Secured Notes due 2029 denominated in U.S. Dollars .
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Mexican cement maker Cemex SAB de CV on Thursday posted a 4% decline in net sales for the third quarter as it grappled with a slowdown in Mexico's construction market, and the company's shares tumbled even though net profit jumped 11%. Lower financial costs helped boost profits, but those gains were overshadowed by the drop in sales, led by a 16% decrease in Mexico, the sharpest drop by far of the markets where Cemex operates. Mexico's construction sector, which represents 7.5% of gross domestic product, has seen output contract for 14 straight months, according to official figures available through August.
CEMEX, S.A.B. de C.V. ("CEMEX") (CX), announced today that, on a like-to-like basis for the ongoing operations and adjusting for foreign exchange fluctuations, consolidated net sales decreased by 1%, reaching US$3.5 billion during the third quarter of 2019 versus the comparable period in 2018. Operating EBITDA decreased by 7% on a like-to-like basis during the third quarter of 2019 to US$681 million on a year-over-year basis. The decrease in quarterly consolidated net sales was due to lower volumes mainly in Mexico and our Asia, Middle East and Africa region, partially offset by improved prices for our products, in local-currency terms in most of our regions.
With the U.S.-China trade war again showing no sign of resolution, and combined with other geopolitical flashpoints, plowing into growth stocks is probably the last thing on many investors' agendas. And while the U.S. markets have certainly printed some red ink recently, a growth-based strategy surprisingly isn't completely insane. We just may be looking at the wrong place.Stereotypically, Americans tend not to think much beyond their zip code, let alone their country. That's perhaps the privilege of living in the greatest nation on earth. In this case, though, being self-absorbed has some tangible consequences. Looking beyond our borders, international growth stocks offer interesting plays for the risk-tolerant investor.In full disclosure, I've been negative on both the domestic and global economies. Obviously, I'm not the arbiter of what happens next. And certain indicators, such as the economic surprise indices, suggest that global markets are stronger than advertised. This includes countries like Japan, Canada, China, and the Eurozone. If true, that bodes very well for international growth stocks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAnother factor potentially bolstering international growth stocks is that the U.S. markets are stretched. Shrewd investors want to see more bang for their buck. Likely, they're not going to get much stateside. However, global markets offer upside, if you're willing to stomach the risk. * Do These 7 Retail Stocks Make the Grade? If that's you, here are seven international growth stocks to consider: Barrick Gold (GOLD)Source: Shutterstock Headquartered in Canada, Barrick Gold (NYSE:GOLD) is easily one of the best international growth stocks to put on your short list. With fears rising about geopolitical flashpoints, as well as our own economic stability, GOLD stock is a perfect choice for those who want exposure to safe-haven assets, but don't want the hassle of owning physical bullion.Plus, if you're pessimistic about the broader narrative, GOLD stock offers a hybrid play: you can indirect exposure to safe-haven assets while still participating in the financial system. Better yet, analysts project serious growth for the mining company. Next year, they anticipate growth of 46%, and nearly 34% per annum over the next five years.While this sounds rather robust, it's not at all unreasonable. Gold prices have been deflated for several years, so they're due for a pick-me-up. Additionally, the catalysts - primarily fear and uncertainty - are evident in the markets. Thus, keep GOLD stock close to your chest. Something tells me you'll be glad you did. Sibanye Gold (SBGL)Source: Shutterstock I don't intend to turn this list of international growth stocks into a mining-centric write-up. Nevertheless, the bullish narrative for Sibanye Gold (NYSE:SBGL) is, in my opinion, extremely powerful.For starters, SBGL stock offers the same hybrid opportunity as Barrick Gold: you get the indirect protection that precious metals provide if we suffer economic hardship, as well as the convenience of plugging into the financial system. More importantly, though, the South African-headquartered mining firm specializes in platinum and palladium production.Both metals are critical for the development of catalytic converters. Due to stricter emissions standards in the automotive industry, palladium demand has already skyrocketed. While electric vehicles aim to overturn traditional fossil-fueled cars, this complete transition won't happen so quickly. This situation augurs very well for SBGL stock. * Are These 10 High-Yielding S&P Dividend Stocks Traps or Treasures? Moreover, we have to think about the political situation. Increasingly, climate change and its associated issues have taken center stage. For now, the best way to address earth's climate is through more rigorous emissions standards. This will only spike up palladium and platinum demand, further bolstering SBGL stock. Sony (SNE)Long playing second fiddle to consumer electronics king Apple (NASDAQ:AAPL), my alma mater Sony (NYSE:SNE) offers an interesting play among international growth stocks. For one thing, I tend to believe in market cycles. As one organization dominates, they must provide increasingly compelling storylines to keep investors interested. Because SNE stock is on the outside looking in, they don't have to worry about that pressure.Fundamentally, SNE stock may be fortuitously well positioned. I say this because with peak smartphone, it's become exponentially harder to excite customers. According to some sources, for instance, Apple's new iPhone 11 isn't all that great.In contrast, I'm very excited about Sony's upcoming product pipeline. Sure, I'm biased. But with something as powerful as the upcoming PlayStation 5, it doesn't matter: it's almost a guarantee that Sony's flagship product will receive massive fanfare. Obviously, this is a net positive for SNE stock.Plus, Sony isn't just riding the PlayStation horse. They've got other viable platforms, such as artificial intelligence-based video-content creators, as well as next-generation "pro-sumer" digital cameras. It all makes for a strong contrarian candidate among international growth stocks. Cemex (CX)Source: Wikimedia CommonsPresident Donald Trump may not always show his appreciation, but Mexico is a vital partner to the U.S. Of course, because of the current political situation, this relationship is unfortunately strained, to put it mildly. But that shouldn't dissuade you from considering Cemex (NYSE:CX) among your list of international growth stocks.Since July of 2017, CX stock has unfortunately suffered substantial volatility. Some of the harsh rhetoric from the White House has spilled over into our trade agreements with Mexico. As such, many investors have chosen to dump Cemex.But with shares down so much since then, I think it's time to put CX stock on your radar. First, the U.S. isn't Mexico's only trading partner. Thanks to modernization initiatives and various efficiencies, Mexico represents an attractive place for business. Unsurprisingly, foreign direct investment dollars have flowed in from Japan and the European Union. * 8 Dividend Stocks to Buy for a Recession Finally, keep in mind that Mexico features very favorable demographics. Currently, almost half of the country's population is what we would term working age. Also, because of their robust population growth, Mexicans aged zero to 14 years represent almost 27% of the country's tally. Thus, you're looking at a very important global labor market, which is net positive for CX stock. Tencent (TCEHY)Source: Shutterstock With Chinese growth stocks at the forefront of the U.S.-China trade war, this sector seems inevitably doomed. Again, in the interest of full transparency, I've recently adopted a less-than-positive stance on China. As the word of words continue to heat up, it's hard to imagine that companies like Tencent (OTCMKTS:TCEHY) can emerge from the muck without a trade deal.That said, TCEHY stock is a name you shouldn't ignore. Although many investors like to put tags on Tencent, such as China's Facebook (NASDAQ:FB), it's much more than that. For example, Tencent owns the WeChat app, which has more than a billion monthly users. That's second only to Facebook's WhatsApp and Messenger platforms.But a more critical point boosting the bullish thesis for TCEHY stock is WeChat's comprehensive nature. Like any messaging app, it's any easy way to connect with family, friends and colleagues. However, WeChat also arranges payments and books flights and hotel rooms.As China continues its push toward full modernization, WeChat will play a pivotal role. Therefore, you've got to keep TCEHY stock on your short list, irrespective of how you feel about the trade war. Ericsson (ERIC)Ericsson (NASDAQ:ERIC) and especially rival Nokia (NYSE:NOK) once dominated the "old school" cellphone market. But once Apple's iPhone launched, it has largely been dead man walking for ERIC stock.And there's really no question that Ericsson is a speculative name. For context, back during the tech bubble, ERIC stock once had a triple-digit price. Today, with shares firmly priced under $10, those glory days are long gone.Ordinarily, most conservative investors wouldn't give a second thought to Ericsson. However, with the telecom industry's 5G rollout, the long-embattled company suddenly has a lifeline. Through key global partnerships, Ericsson has provided the equipment necessary to implement this next-generation technology. As this rollout continues, ERIC stock may attract more investor dollars. * Do These 7 Retail Stocks Make the Grade? Analysts project growth of 35.1% next year, and nearly 64% per annum over the next five years. It's an interesting opportunity. However, just be careful that ERIC has a history of wild volatility. Credicorp (BAP)Admittedly, the idea of incorporating Credicorp (NYSE:BAP) into this list of international growth stocks is fraught with risk. As Peru's largest financial holding, BAP stock immediately loses credibility. If you haven't heard, the country is chest-deep in a political crisis. To very briefly summarize, Peru's president and vice president each claim to be the nation's rightful leader.So, why even think about BAP stock? For one thing, Peru has endured massive structural changes over the last few decades. While this present crisis is indeed worrisome, the Peruvian people have a long history of dealing with these high-level shenanigans. While I'm not trying to make light of the situation, it's not unreasonable to believe that the nation will eventually resume business as usual.When it does, Peru has interesting characteristics that could help lift BAP stock. Primarily, the country's GDP is mostly tied to the services sector. Because of that, Peru needs a robust workforce, which they have. Their population pyramid is very favorable, featuring a very large allocation of young people.As of this writing, Josh Enomoto is long gold bullion and SNE stock. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Do These 7 Retail Stocks Make the Grade? * The 10 Best CEOs of the Third Quarter * 5 Big IPOs That Are Getting Smashed The post 7 International Growth Stocks for Your Shortlist appeared first on InvestorPlace.
The $1.8 billion luxury condo project, developed by the Trump Group (no relation to the president) and built by general contractor Coastal Construction, will include two 50-story towers with a total of 247 units. The south tower will have 154 units, and the north tower will have 93 units. "A project like this where no expense has been spared to deliver an unrivaled luxury experience can obviously have their choice of suppliers," said Jeff Bobolts, CEMEX USA Regional President—Florida Region.
Do headlines of a slowing global economy or raised trade war threats have your attention? It may be time to look at the price charts of infrastructure stocks U.S. Steel (NYSE:X), Alcoa (NYSE:AA) and Cemex (NYSE:CX) to build long-term profits shorting and buying X stock, AA and shares of CX in your portfolio. Let me explain.Are you mulling why the Federal Reserve cut rates for the first time in over a decade? Or does the latest news of an additional 10% tariff on $300 billion in Chinese goods by the U.S. government have you worried? Well, you're not alone.These macroeconomic and geopolitical environment have Wall Street's undivided attention, while earnings season has quickly been shown the exit. But in order to profit from today's headlines, you have to look at the big picture. And that's where X stock, AA and CX come in.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 of the Most Shorted Stocks in the Markets Right Now Along with large-cap tech stocks such as Apple (NASDAQ:AAPL) or an industrial play like Caterpillar (NYSE:CAT), infrastructure stocks are obviously a group worth watching. And within this market area X, AA stock and shares of CX are companies to put on the radar for selling and buying based on what their price charts and not today's headlines are telling us. Infrastructure Stocks: U.S. Steel (X)U.S. Steel is the first of our three infrastructure stocks. The provided weekly chart shows X stock has formed a bearish flag beneath lateral resistance dating back to the financial crisis. Even U.S. Steel's better-than-expected earnings report hasn't been able to put a bid in this one!That's not the only bearish evidence in X stock either. Today's pattern is the second time where shares have fallen below support. Coupled with a failed uptrend attempt in 2018, this second attempt at breaking through this critical area looks all the more ominous. The X Stock Trade Short this infrastructure stock now and look for an eventual move towards the 2016 low. To keep losses contained and prevent fighting a bearish trend, I'd recommend a stop-loss slightly above the pattern high. Alcoa (AA)Alcoa is the next of our infrastructure stocks to put on your radar. However, I'm watching AA stock for a purchase. The monthly chart in AA stock does a good job of displaying a large broadening pattern that has developed over the past decade. Shares of Alcoa are near support and that's bullish.The formation isn't perfect, but life rarely is either. More importantly, I see the spirit of this corrective base as being intact. And with a bullishly diverging stochastics setup, a bottom should be closer, rather than farther away. The AA Stock TradeShould a confirmed candlestick low in this infrastructure stock form in the coming weeks, AA stock offers plenty of upside and bang for the buck. * 7 A-Rated Stocks Under $10 Based on the most recent pattern highs and angular resistance, a long in Alcoa could see $65 to $70 over the next 12 to 18 months. Cemex (CX)You'll have to be the judge of whether I left the best infrastructure stock for last. Mexico-based Cemex never quite recovered from last decade's financial crisis. And conditions could get a great deal worse for CX stock.Now, as a victim of slowing global growth and trade wars, CX stock has broken neckline support on its monthly chart. And with shares trading at $3.25 it's hard not to see this bearish pattern as possibly being the final straw for shares of CEMEX. The CX Stock TradeMy recommendation on CX stock is to gain short exposure today. I'd personally suggest a longer-term option such as the January 2021 $3 put. Priced for 55 cents, this bearish contract greatly reduces and limits risk in the event of an adverse pattern failure. And optimistically, if we're right this could be a near five-bagger.Investment accounts under Christopher Tyler's management do not currently own positions in securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 of the Most Shorted Stocks in the Markets Right Now * 7 Charts That Should Concern Marijuana Stock Investors * 8 Monthly Dividend Stocks to Buy for Consistent Income The post 3 Infrastructure Stocks to Ground Your Trading appeared first on InvestorPlace.
Mexican cement maker Cemex SAB de CV reported a 3% fall in quarterly sales amid a drop in volumes in all its markets except the United States, sending the company's shares lower on Thursday. The global economic climate took a toll on Cemex's results, Chief Executive Fernando Gonzalez said in a statement. The lower volumes were partly offset by higher prices across the board, Cemex said.
Mexican cement producer Cemex SAB de CV on Thursday posted a 3% fall in quarterly sales, hurt by lower volumes in key markets such as Mexico. Chief Executive Officer Jaime Muguiro said cement demand trends remained positive in Colombia, but it was not enough to offset increases in coal, electricity and distribution costs in Colombia, and weaker markets across Central America.