Month: May 2012

POSCO-CFPC, a processing entity of Korean steel maker POSCO ( PKX ), recently declared a positive end to its efforts to provide various high quality services to its clients through its self-sufficient platform. The center, located in Huanan, China, started its operation in 2004 with a capital base of $22.3 million, and it has several functional units such as Production, Carbon Steel Sales, Stainless Steel Sales, QSS Innovation and Management. POSCO-CFPC’s sole purpose is to enhance the company’s presence in China by establishing a supply chain for POSCO’s manufactured steel products, along with lending support to its clients through several types of financial and operational assistance […]

We recently reiterated our Neutral recommendation on Amphenol Corporation ( APH ). Earnings estimates for 2012 have moved up after the company reported better-than-expected results for the first quarter of 2012 and upgraded guidance for full-year 2012. Amphenol posted a net income of 77 cents per share in the first quarter of 2012, up from 69 cents in the fourth quarter of 2011 and 72 cents in the year-ago quarter […]

Recently, Honeywell International Inc. 's ( HON ) group company, UOP LLC, opened a manufacturing and operations center in Penang, Malaysia for production of natural gas membrane elements. This is part of the company’s initiative to support the flourishing natural gas market […]

Italy’s energy group, Eni SpA ( E ) has agreed to divest 30% less one share in Snam SpA to state-controlled lender Cassa Depositi e Prestiti (“CDP”). This move will enable Eni to fund its major exploration and production expansion ventures. […]

Caterpillar Inc. ( CAT ) is selling the equipment, distribution and support business, formerly operated by Bucyrus International in South Africa and Botswana, to Barloworld for $115 million. Caterpillar has also assigned to Barloworld its agreements with Eqstra NH Equipment (Pty) Limited and Eqstra Botswana (Pty) Limited for the purchase of Eqstra’s South Africa and Botswana Bucyrus distributorship and mining services businesses […]

We maintain our long-term Neutral recommendation on Polo Ralph Lauren Corporation ( RL ) with a target price of $160.00 per share. However, the company has a Zacks #4 Rank, implying a short-term Sell rating. Polo Ralph Lauren is one of the leading specialty retailers of premium lifestyle merchandise in the U.S […]