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manufacture posts

Option update: Steel stocks (MT, NUE) volatilities elevated

Posted Aug 24th 2007 10:25AM by Paul Foster (RSS feed)
Filed under: India, China, Russia, Nucor Corp (NUE), Japan, Options, Politics, Eastern Europe

Arcelor Mittal (NYSE: MT) implied volatility of 39 above 26-week average of 34.

MT, a global steel producer, with a market cap of $82 billion, closed at $59.60. Bank of America said on 8/23 that the company is "well positioned for Long Term value creation; initiate with a Buy." MT overall option implied volatility of 39 is above its 26-week average of 34 according to Track Data, suggesting larger risk.

Nucor Corp. (NYSE: NUE) implied volatility of 39 above 26-week average of 34.

NUE is engaged in the manufacture and sale of steel and steel products. NUE closed at $51.53. Merrill Lynch upgraded NUE to Buy from Neutral reports DJ. NUE over all option implied volatility of 39 is above its 26-week average of 34 according to Track Data, suggesting larger price risks.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Parents Magazine warns of toy cell phone recall

Posted May 6th 2007 10:40AM by Gary Sattler (RSS feed)
Filed under: Bad News, Press Releases, Products and Services, Consumer Experience

The Consumer Products Safety Commission, in conjunction with Parents Magazine, has announced the recall of some 300,000 Record-A-Voice toy cell phones. It has been reported to the manufacturer that at least 54 of the toy units have become unhinged, then releasing a metal hinge pin which poses a choking hazard to children.

The toy cell phones were sold through Target stores September 2006 through January 2007, and the recall applies only to certain manufacturing date codes. The date codes of 090106 through 101206 are specified in the CPSC news release. Worthy of note is the fact that the potentially dangerous toy cell phones were manufactured in China by Battat Inc. of Plattsburgh, NY.

Please take these toy cell phones away from young children immediately and contact Battat to receive a replacement product or refund. See the Consumer Product Safety Commission news release.

Oh, and remind the kids not to eat pet food with Chinese wheat gluten in it. We hear that stuff is dangerous also.

Looking into Goodyear's future

Posted Dec 27th 2006 4:32PM by Gary Sattler (RSS feed)
Filed under: Other Issues, Good news, Management, Industry, Employees

Based on a pending labor agreement with members of the United Steelworkers Union, The Goodyear Tire & Rubber Co. (NYSE: GT) shares have posted a new 52- week high, rising 40 cents to close at $20.12 on Tuesday, Dec. 26. At market close today, shares were still up.

As outlined in its press release, Goodyear's goals in the negotiations were to "reduce excess high-cost manufacturing capacity, reduce legacy costs, improve productivity and reduce labor costs." Goodyear states that the pending contract will, at least in part, service those goals.

On its face, the three-year contract now pending appears to serve both labor and corporate interests in reasonable fashion. Goodyear will agree to withhold from closing its Tyler, Texas manufacturing facility for one calendar year and will provide $1 billion in retiree health care provisions. The union will concede to a newly-created pay structure for new hires.

Based on a news release from the United Steel Workers website, "The tentative agreement is endorsed by the USW's Goodyear Policy Committee" which is comprised of local union leaders. Members will be voting on the new contract at ratification meetings on December 28, 2006. The union still colors Goodyear as a nasty corporate entity that previously tried to get away with something, but as we all know unions will rarely paint corporations with a favorable brush. I think the USW would do well to admit that in today's economic climate, this pending agreement should assure that the workers are being very well treated.

Was the upward spike in Goodyear shares premature? I don't think so. It seems to me that both sides on the pending agreement are pretty well satisfied. Now if Goodyear exercises their obligations diligently and honestly and the labor force continues to push ahead as in the past, Goodyear should be on very solid ground for the next three years...until contract time again.