"Seattle-based Plum Creek Timber (NYSE: PCL), the nation's largest private landowner with more than eight million acres, has caught our eye," says Bill Martin.

In his BullMarket.com advisory, he explains, "Earnings have been stunted in recent quarters by the housing slump, but the company sports a strong balance sheet and an asset base that thanks to nature only gets larger and more valuable as time goes by."

"Plum Creek, which operates as a real estate investment trust, reported surprisingly solid Q3 profit. It posted net income of $69 million, or 40 cents per share, for the quarter ended September 30th, compared with a profit of $59 million, or 34 cents per share, for the same period a year ago.

"In the 2007 quarter, fire losses in Montana forced the company to report a $4 million non-cash expense, or two cents per share, related to fire losses experienced in Montana.

"The company's EPS results topped the expectations of Wall Street analysts by a penny a share. Revenue grew to $414 million, up 2% from $407 million last year. The sales results were a bit short of the consensus of $419.8 million.

Continue reading 'Growing' assets: Plum Creek Timber (PCL)

'Growing' assets: Plum Creek Timber (PCL) originally appeared on BloggingStocks on Tue, 18 Nov 2008 13:30:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• It was revealed yesterday that Terra Firma is among the potential bidders for Ford Motor Company's (NYSE: F) Jaguar and Land Rover brands, reported the Financial Times.
• There is a 40% to 45% risk that a recession will be triggered by the housing market downturn in the U.S., the CEO of Freddie Mac (NYSE: FRE) warned, the Financial Times reported.

• From BusinessWeek's "Inside Wall Street" column:
  
• Investors looking for fast growth in the $110 billion business-enterprise telecom market are betting on Time Warner Telecom (NASDAQ: TWTC), which offers broadband connections for data, high-speed Web access, local voice, and long-distance service.
• Plum Creek Timber (NYSE: PCL) is flying high despite the housing slump and market decline driven by the subprime mortgage crisis.
• Universal Electronics Inc (NASDAQ: UEIC), which makes the remote controls for TVs and other appliances, has caught the Street's eye.

• Unstrung.com reported that Cisco Systems Inc (NASDAQ: CSCO) is close to buying a WiMax base station company, according to sources, and one possible target is Alvarion (NASDAQ: ALVR).
• Yahoo! (NASDAQ: YHOO) is reportedly going to reduce the amount of money and effort it spends on premium services related to music, games, TV, and movies, reported TechCrunch.com.

Newspaper wrap-up: Terra Firma interested in Jaguar and Land Rover originally appeared on BloggingStocks on Fri, 28 Sep 2007 09:20:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Medarex Inc (NASDAQ: MEDX) was initiated with a Positive rating at Susquehanna. The firm said Medarex has multiple drivers include a potential buyout by one of its existing partners, as well as clinical progress and the success of its technology platform in monoclonal antibody therapeutics.
• Susquehanna also initiated shares of Dyax Corporation (NASDAQ: DYAX), Millennium Pharmaceuticals Inc (NASDAQ: MLNM), and Idera Pharmaceuticals Inc (AMEX: IDP) with Neutral ratings and Dynavax Technologies Corporation (NASDAQ: DVAX) and Coley Pharmaceutical Group Inc (NASDAQ: COLY) with Positive ratings.
• Rayonier Inc (NYSE: RYN), Plum Creek Timber Company Inc (NYSE: PCL) and Weyerhaeuser Company (NYSE: WY) were initiated with Buy ratings at Merrill Lynch.
• Kona Grill was initiated with an Outperform rating at Cowen. The firm believes Kona can grow its asset base 10-fold at strong store-level cash-on-cash ROICs.

• Jefferies initiated shares of Input/Output Inc (NYSE: IO) with a Buy rating and $19 target.
• Goldman Sachs initiated shares of Minerals Technologies Inc (NYSE: MTX) with a Buy rating and $80 target.
• JP Morgan initiated shares of Orexigen Therapeutics Inc (NASDAQ: OREX) with an Overweight rating and is positive on the company's obesity pipeline.

Analyst initiations 6-07-07: Pharmaceutical companies, timber and KONA originally appeared on BloggingStocks on Thu, 07 Jun 2007 11:18:00 EST. Please see our terms for use of feeds.