Eastman Chemical Co. (EMN) has raised its full year 2009 earnings guidance to $3.50 per share from the initial guidance of $2 to $3 per share, driven by an expected strong growth in its core business. The company is hoping to deliver about 20% or over $6 per share growth in annual earnings by 2012, as the economy recovers completely. The Zacks Consensus Estimate is pegged at $3.22 for 2009 and at 93 cents for the fourth quarter. Recently, Eastman’s close peers, Dow Chemical Company (DOW) and Dupont (DD) have also predicted strong growth in earnings. Eastman stands to benefit from its business restructuring and cost-cutting measures, which are expected to result in cost savings of more than $200 million for the full year 2009. Eastman’s earnings of $1.38 per share in the third quarter of 2009 had bettered the Zacks Consensus Estimate of ...

Cereplast, Inc., a pioneer in the manufacture of plastics which derive largely from resins based on plant starches, released news announcing projections for its market sector.

Expecting a ten-fold sales increase in the U.S. bio-plastics market by 2020, the Company cited the $1B sales figures from 2007 and estimates which show that, within ten years, bio-plastics could represent up to an astonishing 30% of the total plastics market.

With the Obama administration leaning heavily toward a green economy and increasing demand from consumers for biodegradable products, Cereplast is poised to cash in on the “green” economy and return substantial value to its investors. Through its proprietary technology and manufacturing know how, Cereplast is ready to capture the explosive growth of this sector, with offerings like Cereplast Compostables® and Cereplast Hybrids®, which are certified compostable in the U.S. and Europe.

CEO and founder of Cereplast, Frederic Scheer, spoke of their breakthrough

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Thursday October 15, 2009

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Power3 Medical Products, Inc. (OTCBB: PWRM), a leader in neurodegenerative disease and cancer biomarkers and diagnostic tests, announces further international recognition of validity as the company’s President and CSO, Dr. Ira Goldknopf, will deliver an invited Keynote address and chair a session on “Biomarkers and Diagnostics in Personalized Medicine (Track 6-4),” at the BIT Life Sciences 2nd International Congress and Expo of Molecular Diagnostics in Beijing, China, November 19-21, 2009. The Theme of the meeting is “New Leadership of

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The Lubrizol Corporation (LZ) has seen its stock hitting 52-week highs in recent sessions, but it's still an attractive value stock as earnings have been rising. LZ has a forward P/E of just 11.33.

Company Description

Lubrizol manufactures specialty chemcials including lubricant additives for engine oils and fuel additives for gaoline and diesel fuel. It also makes ingredients and additives for personal care products and pharmaceuticals, plastics technology and performance coatings.

Raised 2009 Guidance on Sep 14

Lubrizol raised full-year guidance well-ahead of its Oct 29 third-quarter earnings report to the range of $6.10 to $6.40 from a prior range of $5.70 to $6.00 per share it issued on July 30.

Analysts are bullish and have been raising estimates as the earnings date approaches.

All 7 covering analysts raised 2009 estimates to $6.35 from $5.96 in the last 30 days. For the third quarter, the Zacks Consensus

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Yesterday, oil refiner and marketer Sunoco Inc. (SUN) announced certain strategic actions to improve the company’s performance and competitiveness in a cost-effective manner, as it struggles to cope with the bearish refining margin environment. Sunoco said that it would indefinitely idle a New Jersey refinery, furlough 400 workers and cut its dividend in half. The company hopes that these measures will save $320 million annually, though this would also lead to $475–$550 million in largely non-cash financial charges over the next few quarters. Sunoco has decided to shut down its 145,000 barrels-per-day Eagle Point refinery in Westville, NJ, until market conditions improve. In the meantime, the company will shift production from Eagle Point to its refineries in Philadelphia and Marcus Hook, PA, and may use the idled refinery to produce alternative fuels. The Philadelphia and Marcus Hook facilities will up their utilization rates to make up ...

Developers Diversified Realty Corporation (DDR), a leading real estate investment trust (REIT), has recently appointed a new Director on its board following the resignation of Dean S. Adler.  Adler has resigned from the board of the company citing personal reasons. In his place, Developers Diversified has appointed James C. Boland. With his appointment, the company has brought on board key management experience from diverse sectors to bring a fresh perspective and dynamism to the company.  Boland has extensive knowledge in accounting and was associated with Ernst & Young – a leading global professional services firm – for 34 years. He also served as a member of the firm’s management committee from 1988 to 1997. Subsequently, he served as the President, CEO, and Vice Chairman of Cavaliers Operating Company, which owns and operates the Cleveland Cavaliers professional basketball team and its home court, Quicken Loans Arena. ...

It’s a difficult question to ponder as the state of the world economy is so fragile. Right now, GDP growth stems exclusively from the government’s stimulus package. But once Obama and his cronies are finished fixing the economy, what will the fuel the next leg of the recovery?

In the near term, we think the prospects for job growth look incredibly bleak. Banks aren’t lending. Companies aren’t hiring or investing heavily in R&D, and corporate profits are up only because of cost cutting measures, like layoffs, rather than bottom line revenue growth.

In the long term, however, certain industries look primed to blossom like plastics did in the 70s and semiconductors, personal PCs, and telecom did in the 80s and 90s. Barry Ritholtz at The Big Picture points out ten niche industries he thinks will fill in the gaps and push the world economy forward. Here are his top ten (listed in order

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Methanex Corp. (MEOH) recently finalized a new $200 million revolving credit facility with a syndicate of banks. The new facility, which expires in May 2012, replaces the company's existing revolving facility of $250 million, set to expire in mid-2010. While Methanex stated that the new credit facility is more flexible, it did not disclose the financial terms.

The Vancouver-based company had $278 million of cash in hand at the end of the second quarter. With the new credit agreement and no near-term refinancing requirements, Methanex has positioned itself well to meet its financial commitments and continue investing in projects that stimulate growth.

Methanex is the world's largest supplier of methanol to major international markets in North America, Asia-Pacific, Europe and Latin America, with about a 15% market share.

The chemical Methanol is a blend of 68% natural gas and 32% coal. Natural gas costs have been rising resulting

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China’s largest petroleum company, Shanghai Petrochemical Company Limited (SHI), posted net earnings of RMB 1 billion ($129 million) in the first six-months of 2009 helped by a lower cost of sales. Basic earnings were RMB 0.139 ($1.79) per share in contrast to a basic loss of RMB 0.050 ($0.65) in the first half of 2008. Crude oil is the company's major raw material and accounted for 59.32% of cost of sales in the first half. With the significant drop in average price and volumes of crude oil, total cost of crude oil processed decreased 59.33% to RMB 10.4 billion ($1.34 billion). Year-on-year, the average unit cost of processing crude oil almost halved to RMB 2,543.77 ($328) per ton. Energy and power costs decreased 15.7% to RMB 774.8 million ($99.95 million). Consequently, cost of sales decreased 48.55% to RMB 17.60 billion ($2.27 billion), accounting for 92.25% of ...

Big Lots Inc. (BIG) recently reported better-than-expected second quarter results surpassing the bottom-line expectation. Effective cost management drove the growth in bottom-line with increased efficiencies in distribution and transportation costs, reduced advertising expenses, and decline in payroll costs.   Earnings per share (excluding one-time items) of 35 cents was well above the company’s guidance range of 26 cents to 32 cents, and surpassed the Zacks Consensus Estimate of 31 cents. Earnings per share increased 9.4% year over year, compared to 32 cents in the prior-year quarter.   On a reported basis, Big Lots delivered EPS of 34 cents, up 6.3%.   Management now expects EPS for the third and fourth quarter to be in the range of 14 cents to 19 cents, and 99 cents to $1.04, respectively. Management also raised its full year earnings guidance on account of better-than-expected results. It now expects EPS to be in ...