Aluminum prices have really lagged of other commodities. Inventories continue to be low and declining. Chinese export taxes are beginning to take hold. Trading under 10 X 2006 earnings. Reasonable value here.
Just reported very disappointing earnings, principally because of their fixed income trading operations. You can be vulnerable to trading profits rather than changes in core operations. Prefers Canadian bank stocks which have better relative value.
Remains concerned about this company. Their strength is in their CRJ50 which is not where the demand is. Demand is in the 70 to 90 seat regional planes. Their balance sheet has continued to do vendor financing and have taken it above their stated limit of $1 billion to about $1.5. Continue to hold $2.5 billion in residual value guarantees.
Had a big pop yesterday on rumours that an Australian company was going to make a bid for them. Speculative. It is a takeover target but has been one for 10 years. Wait for a pullback.
One of her 2 favourite banks. Has lagged the other banks in the last 6 months. Will continue to generate good returns. Working hard on its retail division.
(A Top Pick May2/05. Down 3%.) Stock came off with the CEO moving over to Boeing. Temporary. Continues to be well positioned to benefit from global growth. A couple of divisions in the health care sector are under analyzed and will make a major contribution.
Was her latest acquisition to her portfolio. Involved in a wide variety of industry, including defence. Well positioned to benefit from increased spending on defence. A good play on expansion in Asia.
An excellant company. Strong management. Stock has been on a tear recently on rumours that they are going to acquire the UK company that owns Aim/Trimark. This would make it the largest independent company. Price looks parabolic. Wait for it to settle down.