American Woodmark, Taseko Mines, Yahoo!, Facebook and Microsoft highlighted as
Zacks Bull and Bear of the Day
CHICAGO, July 17, 2013
CHICAGO, July 17, 2013 /PRNewswire/ -- Zacks Equity Research highlights
American Woodmark Corporation (Nasdaq:AMWD-Free Report) as the Bull of the Day
and Taseko Mines Limited (AMEX:TGB-Free Report) as the Bear of the Day. In
addition, Zacks Equity Research provides analysis onthe Yahoo! Inc.
(Nasdaq:YHOO-Free Report), Facebook (Nasdaq:FB-Free Report) and Microsoft
Here is a synopsis of all five stocks:
Bull of the Day:
Continued recovery in the housing markets and resilient consumer demand have
resulted in rising estimates, sending this cabinet maker to Zacks Rank #1
American Woodmark Corporation (Nasdaq:AMWD-Free Report) is a leading
manufacturer and distributor of kitchen and bath cabinets for the remodeling
and new home construction markets.
The company manufactures cabinets under four major brands:American Woodmark,
Timberlake Cabinetry, Shenandoah Cabinetry and Waypoint Living Spaces and
sells more than 435 cabinet lines in a wide variety of design materials and
Its products are sold through a network of independent dealers and
distributors, and directly to major builders and Lowe's and The Home Depot.
The company operates 11 manufacturing facilities and 9 builder service centers
across the country.
The company reported its fourth quarter ended April 30, 2013 on June 4, 2013.
Net sales rose by 26% compared with the fourth quarter of the prior fiscal
year to$171.1 million. Net income reported in the fourth quarter of fiscal
year 2013 was$5.2 million, or34 centsper diluted share, compared with a net
loss in the fourth quarter of fiscal year 2012 of ($6.0 million),
or($0.42)per diluted share.
The results were substantially ahead of the Zacks consensus estimate of $0.17
The Company experienced double digit sales gains in each of its sales channels
during the fourth quarter of fiscal year 2013, led by new construction sales
growth of more than 40%. Remodeling market also recorded a decent
mid-single-digit improvement, resulting in a double-digit surge in sales.
Bear of the Day:
This year has been quite challenging for copper miners as declining demand and
rising inventories. Disappointing results have in turn led to sharp downward
estimates revisions, sending Taseko Mines to a Zacks Rank #5 (Strong Sell).
Headquartered in Vancouver, Canada, Taseko Mines Limited (AMEX:TGB-Free
Report) owns and operates mining properties in Canada. The company currently
produces copper and molybdenum.
On May 2, 2013, Taseko reported it first quarter 2013 results. The quarter
resulted in an adjusted loss of $2.9 million, down from net earnings of $3.1
million for the first quarter of 2013. On a per-share basis, the loss was
$0.01 per share, below consensus.
Due to disappointing results, quarterly and annual estimates have been revised
sharply downwards in the past few weeks by analysts.
Zacks consensus estimate for the current quarter now stands at a negative
$0.01 per share versus $0.04 per share, 60 days ago, while the full-year
consensus estimate is $0.11 per share now, down from $0.21 per share.
While the company is trying to grow production and lower costs, lower copper
prices resulting from high inventories and global slow-down continue to act as
Yahoo Light in Revs, Beats on EPS Again
Four quarters into Marissa Mayer's tenure as CEO at Yahoo! Inc.
(Nasdaq:YHOO-Free Report), and we have yet to see anything but positive
earnings surprises. Yahoo brought in EPS of 30 cents (Zacks subtracts
stock-based compensation from our earnings numbers) on $1070 million (minus
traffic acquisition costs, or TAC) in revenues for the second quarter.
What this amounts to is a miss on the top line (we had expected revenues of
$1087 million in the quarter) and a 4-cent beat on the bottom line. So it's a
15% positive earnings surprise, even though revenues were down a bit.
Obviously, Yahoo's done a lot of heavy lifting in the past year, both buying
-- companies like Tumblr, Bignoggins and other mobile apps and gaming
companies -- and selling -- $6+ million in shares of its Chinese Internet
partner Alibaba. The windfall from the Alibaba sale (Yahoo still owns a 20%
stake in the company) was given back to shareholders, but even with these
major acquisition plays Yahoo still sits on $4.8 billion in cash.
Investors and analysts alike have been very high on the company, with YHOO
shares having shot up 70% since Mayer took the helm. Yahoo currently has a
Zacks Rank #1 (Strong Buy), and obviously Mayer herself is receiving plenty of
support, especially considering the... shall we say "rather low bar" set by
the previous 3 CEOs at the company.
Yahoo certainly has had a colorful past few years. Who remembers Scott
Thompson's falsified bio? Carol Bartz's "f-bombs"? The media did not treat
Yahoo kindly over this time period, when companies like Facebook (Nasdaq: FB -
Free Report) were able to take market share. But with the ship apparently
righted -- mobile app exposure is obviously a big part of the web industry,
and Yahoo appears to hold a nice hand right now -- YHOO shares have climbed
back up from the nether-regions of $12 and change, and are now at levels not
seen since Jerry Yang screwed up that Microsoft (Nasdaq: MSFT - Free Report)
The question remains whether execution of creating synergies with all its new
properties will go smoothly, but Yahoo is clearly in a better place than it
was a year ago. Missing estimates on the revenue side is not terrific news,
but it's likely not anything an Alibaba IPO can't fix. As for now, Marissa
Mayer's honeymoon with her company and the media continues.
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