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BigCap Lowe's (LOW) reaffirmed its fiscal 2009 profit and sales outlook today with CEO Robert A. Niblock noting that more consumers are tackling home improvement projects on their own, while SmallCap stocks announced further 'recovery news' with KSW Inc., (KSW) signing a $46 million World Trade Center deal (the massive project is 'on' once again), FreightCar America (RAIL) reporting higher Q2 profits and Ascent Solar (ASTI) selling 30,700 units in an agreement running through 2010. Lowe's expects full-year earnings of $1.13 to $1.21 per share (in 2010, Lowe's plans to open between 35 and 45 stores).
New stores, new sales, new service deals, more freight cars; what a long haul since March.
Gaining 17.06% ($0.58) this morning is KSW Inc., (KSW) http://www.kswmechanical.com/ currently trading on the Nasdaq in the $3.89 range. KSW has a new market cap of $24 million. I think there is something patriotic in today's buying spree of KSW. It isn't analytical investors and speculators that have raised KSW's average daily trading volume of 9,970 shares 14 times this morning surpassing 143,573 shares traded in the first two hours of today's session. It is shear support by American traders to get the World Trade Center project up and running again. This is a start.
KSW today announced a joint venture with Five Star Electrical and received a formal Notice of Award for the new World Trade Center heating and cooling plant from the Port Authority of New York and New Jersey. The total amount of the contract is $46,190,000.
KSW will be responsible for the mechanical portion of the contract and Five Star will be responsible for the electrical work. The companies will split the balance of the contract.
And just to sweeten the news for KSW, yesterday, it announced the luxury residential/hotel project to be built on 42nd Street and 10th Avenue in New York City is proceeding. The project had previously been awarded to KSW but was placed on hold in December 2008 as a result of economic conditions. The project is valued between $25.75 and $27.25 million. The project, whose foundations are already in place, will start immediately and is anticipated to be completed by the end of 2011.
KSW furnishes and installs heating, ventilating, and air conditioning (HVAC) systems; and process piping systems for the institutional, industrial, commercial, high-rise residential, and public works projects primarily in the State of New York. KSW also acts as trade manager on larger construction projects, such as New York Presbyterian Cardiovascular Center.
At $3.89, KWS is below its 52-week high of $5.30 set on 11-04-08 and is above its 52-week low of $1.79 set on 12-19-08. At $3.89, KSW is ahead of both its 50-day and 200-day moving averages. KSW has trailing twelve month revenues of $86 million and a trailing twelve month diluted EPS of $0.43. Its shares out versus float ratio is near-parity.
Gaining 18.10% ($3.69) this morning is FreightCar America Inc., (RAIL) http://www.freightcaramerica.com/ currently trading on the Nasdaq in the $23.84 range. RAIL has a new market cap of $284 million. RAIL has a 3-Month average daily trading volume of 107,831 shares and it topped 456,844 shares two hours into today's session.
RAIL reported Q2 09 earnings and profits this morning. RAIL reported net income of $7.0 million, or $0.59 per diluted share, for the three months ended June 30, 2009 on revenues of $104.3 million. For a Q2 08 comparison; RAIL posted sales of $141.3 million and a net loss of $0.4 million, or $0.03 per diluted share.
RAIL management noted the higher profit and sales of Q2 09 were helped by increased orders for new railcars and lower expenses. RAIL management said the Company had 694 orders for new railcars in Q2 09, up from 538 orders in Q2 08. The RAIL gross margin rate for Q2 09 was 15.3% compared to 5.2% for Q2 08. According to management, the increase in the rate was driven by the favorable mix of new car sales and an increase in parts sales and leasing revenues.
As of June 30, 2009, RAIL's net investment in railcars under operating leases was $71.1 million, compared to $46.1 million at the end of Q2 08. Year to date, RAIL has generated cash proceeds from the sale of leased railcars of $59.0 million.
RAIL makes, rebuilds, repairs, sells and leases freight cars used for hauling coal, other bulk commodities, steel and other metals, forest products, and automobiles in North America. It primarily designs and manufactures aluminum-bodied and steel-bodied railcars. RAIL was founded 108 years ago in 1901 and is headquartered in Chicago, Illinois.
At $23.84, RAIL is below its 52-week high of $35.89 set on 09-22-08 and is above its 52-week low of $14.05 set on 03-06-09. At $23.84, RAIL is ahead of both its 50-day and 200-day moving averages. RAIL has trailing twelve month revenues of $690 million and a trailing twelve month diluted EPS of $1.47. RAIL is widely held by institutions. It shares out versus float ratio is at parity. Very stable.
Gaining 11.29% ($0.72) this morning is Ascent Solar Technologies Inc., (ASTI) http://www.ascentsolartech.com/ currently trading on the Nasdaq in the $7.12 range. ASTI has a new market cap of $150 million. ASTI has a 3-Month average daily trading volume of 179,905 shares and it had easily topped that three hours into the session.
Solar stocks have floundered and have been hard hit by the recession, so new, very large orders are a clear sign of the infrastructure of the U.S. turning 'green' once again and ASTI proved that today it has signed a direct supply agreement with Goal Zero LLC, a subsidiary of Provo Craft and Novelty, Inc., a consumer products company located in Utah. Under the terms of the agreement, ASTI will supply up to 30,700 units of its "Premier" module through 2010.
The ASTI modules have been designed for incorporation into a custom electronic portable power application scheduled to arrive on the market at the beginning of next year.
ASTI develops thin-film photovoltaic modules with substrate materials. Its solar modules can be directly integrated into electronics, military and consumer portable power products, transportation systems, building elements, and space/near-space applications. ASTI CEO Farhad Moghadam said today, "We expect this to be the first of many ways that Ascent Solar can further differentiate itself from other traditional solar manufacturers."
At $7.12, ASTI is below its 52-week high of $8.83 set on 06-26-09 and is above its 52-week low of $2.19 set on 03-06-09. At $7.12, ASTI is ahead of both its 50-day and 200-day moving averages. ASTI is widely held by insiders. Its shares out versus float ratio is a little lopsided, but isn't anything to raise a red flag although I would like to see more shares in the public float for stability.
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