Manufacturing bright spot: Pierce Manufacturing Inc. originally appeared on BloggingStocks on Wed, 26 Nov 2008 13:35:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• According to people familiar with the matter, The Bear Stearns Companies Inc (NYSE: BSC) CEO James Cayne is expected to step down, but is expected to remain as chairman, the Wall Street Journal reported.
• Northrop Grumman Corporation (NYSE: NOC), in a bid to diversify as a aerospace and naval contractor, is teaming with Oshkosh Truck Corporation (NYSE: OSK) to bid on a contract to build Humvees for the Army and Marine Corps, reported the Wall Street Journal.

• The New York Times reported that court records have shown that troubled mortgage lender Countrywide Financial Corporation (NYSE: CFC) fabricated documents related to a Pennsylvania homeowner bankruptcy case.
• Alleging that its lending practices discriminated against minorities, leading to foreclosures, the Baltimore City Council is suing Wells Fargo Bank and Company (NYSE: WFC), the New York Times reported.

Newspaper wrap-up: Bear Stearns CEO expected to step down originally appeared on BloggingStocks on Tue, 08 Jan 2008 08:00:00 EST. Please see our terms for use of feeds.

Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.

Oshkosh Truck (NYSE: OSK) is the favorite conservative idea for 2007 from Jon Markman, editor of Strategic Advantage. "I do not expect a recession within a six-month horizon, which increases my confidence in picking a cyclical company such as Oshkosh -- especially since there is so much fear that the economy is headed straight for a recession.

"OSK -- which designs and manufactures a wide range of commercial, fire, emergency, and military trucks and truck bodies under several trademarks, including Oshkosh, Pierce, McNeilus, Medtec, Jerr-Dan, BAI, London, and Geesink -- is now cheap on every valuation measure that I consider important.

"The stock has fallen about 35% from its May highs in recent weeks. Investors were worried about its future growth rate, and there has been some skepticism about a large acquisition that was announced a month ago.

"Moreover, next year it will likely qualify as one of my Core Select List stocks, as it has provided positive earnings, revenue, cash flow, and capital appreciation for the past nine years straight. The company earns a high return on capital, and is one that I believe you can own for years. You should start buying OSK for a late 2007 target of $67 and a $95 target for 2009."

To see Jon's favorite speculative idea for 2007, click here.

Top Picks 2007: Markman steers investors to Oshkosh originally appeared on BloggingStocks on Fri, 29 Dec 2006 14:30:00 EST. Please see our terms for use of feeds.

Oshkosh Truck Corporation (NYSE:OSK) makes heavy-payload tactical trucks for the U.S. Department of Defense (DoD) and has recently acquired Jerr-Dan, the towing equipment manufacturer, from Littlejohn & Co. for a reported $80 million.

Oshkosh truck is currently trading at about $44 and has a recorded 52-week range of $42.10 to $65.69. We'll need to watch carefully how the changes in the way our government does business will affect this company. The company has a very strong history, but as the Bush administration's military industrial machine has taken such a severe hit in this midterm election, we must also consider the effects on "defense contractors."

Continue reading Oshkosh Truck -- one for the long haul

Oshkosh Truck -- one for the long haul originally appeared on BloggingStocks on Thu, 09 Nov 2006 14:39:00 EST. Please see our terms for use of feeds.