Texas Instruments (TXN) reported third quarter results that beat the Zacks Consensus Estimate by 3 cents. Revenue beat the consensus by 2.1%. Revenue Revenue of $2.88 billion was up 17.2% sequentially, the second straight quarter of 17%+ growth. However, revenue declined 15.0% on a year-over-year basis, the fourth consecutive quarter of double digit decline. Then again, the rate of decline slowed somewhat, indicating that the company is coming out of the recession. The sequential increase was driven by normalization in the market, as customers stopped reducing inventory and started increasing production.   Segment Revenue   All four segments contributed to the revenue surprise. The Analog business increased 20.4%, Embedded Processing was up 12.3%, Wireless 12.3% and Other 20.1%. The three major businesses within Analog, high volume analog and logic (HVAL), power management and high-performance analog all contributed to the increase. ...

Earlier today, Ingersoll-Rand plc (IR), a diversified manufacturer of industrial equipment and components, reported its second quarter results. The company reported EPS of $0.50 for the quarter, which is at the high-end of its guidance range of $0.30–$0.50. However, earnings were down 51% compared to the second quarter of 2008 due to weaker volumes. Net sales in the quarter declined 19% year-over-year to $3,474.2 million. This was within the company’s guidance range of $3.4–$3.5 billion. The second quarter sales included $1,776 million of revenues from Trane, which was acquired in June 2008. Excluding the acquisition, the company sales were down 23% compared to the last year. The Climate Control segment reported a revenue decline of 31%, reflecting a sharp decline in total worldwide refrigerated trailer and truck revenue and seagoing container revenue. Industrial Technologies segment revenue declined 33% due to lower volumes all ...

Watsco, Inc. (WSO) said that it completed its previously announced joint-venture, named Carrier Enterprises LLC, with Carrier Corporation. Watsco is the largest distributor of air conditioning, heating, and refrigeration equipment as well as related parts and supplies (HVAC/R) in the United States. Carrier, a unit of United Technologies Corp., provides heating, air-conditioning and refrigeration solutions with operations in more than 170 countries. Watsco owns 60% of the joint venture with options to purchase an additional 20% from Carrier in future years. Carrier Enterprises will operate 110 locations in 20 states and Puerto Rico, the Caribbean and Latin America and serve over 19,000 air conditioning and heating contractors. Carrier is contributing 95 locations in the U.S. Sunbelt and Puerto Rico and the export division located in Miami, Florida, while Watsco is contributing 15 locations in 8 states. The operations will sell Carrier, Bryant and Payne-branded residential and light-commercial

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The EPA recently ruled that too much carbon dioxide is threatening the planet. What this does is make it a lot easier to regulate and tax emitters of this gas.

So here we are in a shaky economy tottering on a ledge and along comes the EPA ready to shove it right off. As The Wall Street Journal reported: “The landmark decision lays the groundwork for federal efforts to cap carbon emissions - at a potential cost of billions of dollars to businesses and government.”

In other words, the war on the so-called greenhouse gases is officially under way - and it is going to be expensive. Each passing month brings us closer to capping, taxing or cutting the gases thought to cause global warming.

I don’t think investors appreciate how far-reaching such efforts could be. And there will be definite winners and losers as a result. Some of these are far from

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China America Holdings, Inc. (CAAH.OB) reported a major upswing in revenue as it announced 2008 financial results. CAH is a holding company that holds 56% of its subsidiary, Shanghai Aohong Chemical Co., Ltd., and the increase was primarily due to the first full year of operating results from this subsidiary. Shanghai Aohong is a distributor of assorted liquid coolants, used primarily as refrigerants in air conditioning systems for automobiles, as well as residential and commercial air conditioning systems. Shanghai Aohong also manufactures steel non-refillable cylinders.

Revenues for 2008 increased to $34.97 million, compared to $16.20 million in 2007. In 2007, China America Holdings recognized only 6 months of revenue from Shanghai Aohong, as opposed to a full year of revenue in 2008. However, although income from operations in 2008 increased to $860,000, compared to a loss of ($406,000) in 2007, the company recorded a net loss for 2008 of ($561,000)

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