This morning, Automatic Data Processing (ADP), the biggest payroll processing firm, estimated that the economy lost 203,000 private sector jobs in October. That was more than the consensus estimate of 190,000 jobs lost. However, the September job loss numbers were revised to a loss of just 227,000 from the original read of 254,000. Thus the losses are coming from a higher base level, and if the revisions are included, this report was in line with consensus or perhaps a bit better. Still, it indicates that while the economy might be expanding, employment isn’t. However, this is the seventh straight month where ADP has seen fewer jobs lost than the month before. This is similar to the pattern that we saw following the last two recessions. While employment has always been considered a lagging indicator, it has been becoming more so with each passing decade. In part ...

China is Investing Billions in Renewable Energy One firm has already built China’s largest wind turbine manufacturing factory. And it’s working with the Chinese Science Academy to develop new wind, solar, and geothermal technologies… for which it will own 70% of the rights. But this company’s business reaches far beyond the Chinese border, with operations in Southeast Asia, the Middle East, Africa and Eastern Europe. It’s first quarter net income increased by 294% over a year ago. Click here for the full report.

The financial services industry in the United States and Europe is still reeling from the financial crisis, shedding tens of thousands of jobs each month – even a year after the crisis hit its apex.

However, recent evidence suggests that the financial services industry in Asia – particularly China, which was largely isolated from the toxic assets that caused the crisis – is starting to rebound.

Indeed, many …

This morning, ADP (ADP), the nation’s largest payroll processing firm, released its estimate of job losses in August. They came in at a decline of 298,000 jobs for the private sector. This is significantly worse than the consensus expectations of a decline of 250,000. There was a little bit of good news in the report in that this is still an improvement over the 360,000 lost in July -- a number that was revised from an original read of 371,000 jobs lost. The losses in August were almost evenly split between the Goods Producing Sector (Construction & Manufacturing), which lost 152,000 jobs, and the Service sector, which dropped 146,000. By size of business, the big firms are holding up best with a decline of 60,000. Medium-sized firms (between 50 and 499 employees) shed 116,000 jobs while small businesses slashed their payrolls by 122,000. Even the Auto industry, ...

We are presenting a list of companies which we believe are currently mispriced, based on our estimate of fair value, by the market. We develop our fair value ranges by projected free cash flow out one year and estimating an appropriate FCF multiple based on our assessment of risk and the strength of the balance sheet.

Cisco Systems [CSCO: 19.57, +0.84 (+4.48%)] Recent Price $17.04 Value Range 21.86 – $38.41 Cisco Systems, Inc. designs, manufactures and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use. The Company provides a line of products for transporting data, voice, and video within buildings, across campuses, and around the world. Its products are designed to transform how people connect, communicate and collaborate. Cisco Systems, Inc.’s products, which include primarily routers, switches, and products that the

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ADP, the largest payroll processing firm in the U.S., has come out with its estimate of job losses in June for the private sector. It is not a pretty picture, with the economy shedding 473,000 more jobs in the month. This was far worse than the 394,000 consensus expectation.On the silver-lining side, the May number was revised to a fall of 485,000 jobs from the initial estimate of 532,000. This moves the May ADP data somewhat closer to the BLS data (June due out tomorrow) of 345,000 jobs lost in May. Also, while the June ADP number is higher than expected, it is the smallest absolute number of job losses since September. I can't say that I am shocked by the ADP number given that initial claims for unemployment insurance have consistently been running about 600,000.The ADP and BLS numbers do not match up exactly, ...

Automatic Data Processing, Inc. [ADP: 38.01, +0.01 (+0.03%)] is the premier HR business process outsourcing (BPO) agent responsible for thousands of payroll transactions world wide. ADP is also active in providing financial information systems to car, motorcycle, marine, and recreational vehicle dealers located across all major continents. The company offers great solutions for businesses that are seeking to realize efficiencies by cutting costs of non-revenue generating units. Heavily tied to the employment rate, ADP obviously makes more fees as it disburses more payroll checks and sells more of its information systems as durable good orders pick up.

ADP is very dependent on a healthy economy, but it has managed to weather the downturn extremely well, as businesses seek operational efficiencies during the current capital crunch. The need for lean operations only helps ADP since its HR outsourcing functions includes more than just payroll, but the crucial human capital

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Equity income is a good choice for conservative investors who need to rely upon their portfolio to provide income to support their lifestyle.

Equity income investing tends to involve a trade-off between capital gains potential and current cash flow to the investor.  In a depressed market such as the one we are in now, equity income in “safe” companies offers more potential for capital gains than usual, making dividend investing all the more attractive to the conservative investor.

What About Bonds?

Bonds are good for income too, but the income does not increase (with the possible exception of inflation protected bonds and perhaps some variable rate bonds).  Bonds have a definite capital preservation and volatility reduction role in portfolios — and a tax reduction role in the case of municipal bonds.  Dividends from successful companies, however, tend to increase over time, helping the portfolio maintain the purchasing power of its cash income stream.

Contribution

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As the global recession deepens, not even the big names have been spared from its wrath. Automatic Data Processing Inc. (ADP) lowered its full-year guidance on Tuesday, blaming the economic slowdown and foreign exchange headwinds.

The world's largest payroll processing company now expects earnings-per-share growth to come in at the low end of its November forecast of 10% to 14%. Last month, Automatic Data Processing had reported modest earnings growth in the second quarter. However as the recession resulted in fewer workers at its clients' businesses, the company sees revenue rising by 1% to 2% down from its prior view of growth of 2% to 3% in fiscal 2009.

Shares of the company fell nearly 2% to $35.27 at midday on the New York Stock Exchange.

"ADP" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research

Wednesday January 7, 2009 Navivest

Stocks are moving to the downside today, on a profit warning from technology bellwether company Intel (INTC), as well as a report from payroll processing company ADP (ADP) that showed that the private sector lost 693,000 jobs in December.

The stock market of late has had a tendency to ignore bad new news, but this was much too much. Intel’s profit warning, in which the company said that it is projecting Q4 2008 revenues of $8.2 billion, a 23% decline year over year, was the second downward guidance from the company in under two months.

On November 12th, just four weeks after the company released its third quarter results in which forecasted Q4 revenues of between $10.1 billion and $10.9 billion, Intel issued guidance that called for Q4 revenues to come in at $9 billion, plus or minus $300 million.

Being that Intel provides

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