Vulcan Materials (VMC) reported a 20% fall in net profits to $48 million or 38 cents per share in the third quarter, from $60 million or 53 cents per share in the year-ago period. The decline was on the back of a 19%-29% fall in sales volumes for the company’s key product lines. However, the company did manage to meet the Zacks Consensus Estimate. Revenue declined 23% to $778 million. Gross profit as a percent of net sales -- excluding depreciation, depletion and amortization -- increased to 34% from 31% in the prior-year quarter. This was attributed to Vulcan’s efficient cost management and productivity improvements. Segment Performance Revenue in the Aggregates segment shrank 19% to $533 million due to lower shipments, which more than offset the earnings benefit from improved prices, lower unit costs for diesel fuel and cost control measures. Shipments declined 20% due ...

* Reports suggest Xstrata and Anglo American (NASDAQ:AAUK) are engaged in merger talks in a deal which could total about $68 billion and result in the combined firm becoming the world's number-three miner behind BHP Billiton (NYSE:BHP) and Vale (NASDAQ:VALE)

* Reuters reported 100,000 of Apple (NASDAQ:AAPL) iPhone 3Gs were sold via preorders, explaining away some of the launch's diminished excitement level. Some news reports said Steve Jobs underwent a liver transplant two months ago in Tennessee, and is still due back at month's end

* Walgreen (NYSE:WAG) is expected to report fiscal third-quarter earnings of 56 cents a share

* UBS (NYSE:UBS) upgraded Vulcan Materials (NYSE:VMC) to "buy," based upon housing and infrastructure recovery

* JP Morgan (NYSE:JPM) upgraded Verisign (NASDAQ:VRSN) to "overweight" from "neutral"

* According to a Wall Street Journal report, Amazon.com (NASDAQ:AMZN) may stop conducting businesses with some retailers in states, which would force sales tax payments on online transactions

...

* National Semiconductor (NYSE:NSM) is expected to report a fiscal fourth quarter loss of 42 cents a share

* Palm (NASDAQ:PALM) CEO Colligan is being replaced as CEO of the company

* CR Bard (NYSE:BCR) announced that it increased its quarterly dividend 6% to 17 cents

* Del Monte (NYSE:DLM) is estimated to report fiscal fourth quarter earnings of 26 cents a share

* Vulcan Materials (NYSE:VMC) slashed its dividend to 25 cents a share from 49 cents.  The company also announced an 11.5 million share offering

* Bank of America (NYSE:BAC) received an upgrade from analysts at KBW

Zacks Investment Research

Every time the United States goes through a recession, the pundits all race to be the first to proclaim that “Buy and Hold” is dead.  I can’t watch a financial news channel or read a financial website without some mention of this proclamation.  Well I’m growing tired of it, and if it were up to me, I’d prohibit anyone else from making this point for the rest of 2009.

Buy and Hold is not dead, and I’m on a mission to prove it.  Buy and Hold has worked brilliantly for decades, and it will continue to do so in the future.  The stock you bought in 2007 is worth less now than what you bought it for?  Oh boohoo, go cry me a river…somewhere else.  The economy has peaks and troughs, and we’re in the middle of one of the more serious

...

With its specific goal of stimulating the economy and creating jobs, it’s only natural that the stimulus package would include significant amounts of government cash allocated to creating infrastructure. There was an excellent article on Seeking Alpha pinpointing a few solid picks that ought to pull up in mid-February when the bill is expected to pass.
Vulcan Materials (VMC)

Forward P/E Ratio: 29.8x

2009E EPS: $1.75

Forward Trading Range: 14x – 18x

Implied Earnings: $3.74 – $2.91

Forward EV/EBITDA Ratio: 10.7x

2009E EBITDA: $850

Forward Trading Range: 6x – 9x

Implied EBITDA: $1,535 – $1,023

Martin Marietta Materials (MLM)

Forward P/E Ratio: 20.6x

2009E EPS: $4.00

Forward Trading Range: 14x – 18x

Implied Earnings: $5.89 – $4.58

Forward EV/EBITDA Ratio: 9.2x

2009E EBITDA: $498

Forward Trading Range: 6x – 9x

Implied EBITDA: $763 – $509

We  are in the worst economy since the Great Depression with investment banks and bond insurers disappearing, auto dealers suffering, etc.  At a time when the economy stinks and employment is falling and costs are rising, CEOs and board members are selling stock and getting rich.  It is just plain BS.

Track CEO sales at:

http://trackthepros.com/stocks/category/661

SELLERS:

COMPANY NAME INSIDERS NAME TITLE $ VALUE NO. OF SHARES IN TRANS. RANGE OF VALUES TRANSACTIONS DATES J Crew Group J. Coulter D $66,900,000 2,000,000 33.45 Sept. 19, 2008 Vulcan Materials D. James CEO 12,475,740 150,000 79.90-84.90 Sept. 18-19, 2008 Simon Property Group D. Bloom MC 10,002,000...

Blue Ridge CapitalBlue Ridge Capital | John A. Griffin Holdings AnalysisThis post is being written as part of my Investment Securities Tool which analyzes the holdings of hedge fund managers.Blue Ridge Capital is ran by John A. Griffin. Griffin is similar to Steve Mandel at Lone Pine Capital and Lee Ainslie at Maverick Capital in that they all are 'Tiger Cubs' (a.k.a. pupils of Julian Robertson while at Tiger Management). Griffin though, is more well known because he was Julian Robertson's right hand man. So, needless to say, the dude knows his stuff. Blue Ridge seeks absolute returns by investing in companies who dominate their industries and shorting the companies who have fundamental problems. And, right off the bat that presents us with a bit ...