Analysts at RBC Capital Markets have released an update on Genesee & Wyoming, Inc. (NYSE: GWR). The company has reported results for the fourth-quarter.

The company reported EPS of $0.40 for the quarter, which excludes $0.01 gain on sale of assets, and $0.03 tax benefit. The results came in above analysts’ estimate

. According to analysts, the company is an attractive investment. Analysts expect the company to announce a number of deals over the coming quarters.

Analysts at RBC Capital Markets have maintained an Outperform rating for Genesee & Wyoming, Inc., with a price target of $38.

Analysts at RBC Capital Markets have released an update on Corrections Corporation of America (NYSE: CXW). The company will report results for the fourth-quarter tomorrow.

Analysts expect the company to report results in line with expectations. However, analysts do not expect any positive impact on the company’s share from the fourth-quarter results.

According to analysts, several contract losses, and uncertainties in state budget will prompt management to have a relook on its outlook. Analysts have maintained an Outperform rating for Corrections Corporation of America, with a price target of $26.

Analyst Jason Arnold and Andy Ellner at RBC Capital Markets have released an update on American Capital Agency Corp. (NASDAQ: AGNC). The company has reported results for the fourth-quarter.

American Capital Agency Corp. reported GAAP EPS of $1.79, and core EPS of $1. The core EPS came in below analysts’ estimate due to swap expense amortization. According to analysts, the underlying trends at the company remain favorable.

Analysts have lowered core EPS estimate for 2010 from $5.29 to $4.47. Analysts have initiated EPS for 2011 at $4.40.

According to analysts, the valuation of American Capital Agency Corp. remains attractive. Analysts at RBC Capital Markets have maintained an Outperform rating for the company, with a price target of $30.

Commodities are up on the weaker dollar, and CNBC's Fast Money Pete Najarian is looking at the coal names among the commodity stocks.

Peabody Energy Corporation (NYSE: BTU) is a stock that he watches closely. Peabody Energy Corporation (BTU) jumped 4.75% today and closed at $42.37.

Analysts at RBC Capital Markets have released an update on Taleo Corporation (NASDAQ: TLEO). The company will report results for the fourth-quarter tomorrow.

Analysts expect an upside to their estimates for revenue and EPS. Analysts expect the company to report $52 million in revenue, which is above analysts’ estimate of $50.5 million. The EPS is expected to be $0.18, $0.02 above analysts’ estimate.

According to analysts, the company is likely to adopt new accounting standards. Analysts expect this to have appositive impact on revenue, and EPS, and a slightly negative impact on deferred revenue.

Analysts at RBC Capital Markets have maintained an Outperform rating for Taleo Corporation, with a price target of $19.

Analysts at RBC Capital Markets have maintained a Sector Perform rating for Patterson-UTI Energy, Inc. (NASDAQ: PTEN). The price target has been set at $21 for the Patterson-UTI Energy, Inc. stock.

Analysts at RBC Capital Markets have raised the estimates for the company. Analysts have raised the EPS for 2010 to $0.10, and for 2011 to $0.59.

According to analysts, the shares of the company can see a near-term rally driven by an upside in earnings revision, and positive rig count momentum.

Analysts at RBC Capital Markets have released an update on W. R. Berkley Corporation (NYSE: WRB). The company has reported results for the fourth-quarter.

W. R. Berkley Corporation reported operating EPS of $0.71 for the fourth-quarter, which came in ahead of analysts’ estimate of $0.64, and consensus of $0.67. The company reported a decline of 7% in net written premiums. Analysts had expected a 1% decline.

The company also bought back 4.6 million shares in the quarter. The company has also increased its share buyback authorization to 11.5 million shares.

Analysts at RBC Capital Markets have maintained an Outperform rating for W.R. Berkley Corporation.

Analysts at RBC Capital Markets have released an update on Teck Resources Limited (NYSE: TCK). The company has reported weaker-than-expected results for the fourth-quarter.

According to analysts, the weak results for the quarter have been mainly due to shortfalls at Teck Coal, and Trail, and higher costs.

The company is currently negotiating coal prices for 2010. The company has indicated that the talks are at an early stage. However, the company expects a price increase over 2009 levels.

The company had $1.3 billion in cash on hand at the end of the fourth-quarter. Analysts at RBC Capital Markets have maintained a Sector Perform rating for Teck Resources Limited.

Stand back! We’re not sure how big this thing will get!

Apple has been taking iPad indications of interest (notify me*) via their website and a few Apple reseller partners have gone so far as to take pre-orders. The word from Norway is that iPad interest is off the charts and resellers are nervous about meeting demand.

via http://www.electronista.com/articles/10/02/09/apple.resellers.get.thousa... ">Electronista

Apple is facing the rare incident of an advance sellout this week as a number of Norwegian resellers have had to stop their pre-order programs for the iPad. Eplehuset (Apple House) has told its customers that “crazy interest” has led it to stop sales in advance. Read > more

*If you’d like to be notified when iPad is available to order > go here

Becton, Dickinson and Company (BDX) recently started expanding the recall of its catheters as a result of a manufacturing problem that could cause fatal embolisms or blood leakage. Becton is recalling its defective Q-Syte Luer Access Devices and Nexiva Closed IV Catheter Systems. The company started the initial recall of these products on Oct 28, 2009.

Becton is in constant touch with the U.S. Food and Drug Administration (FDA) and worldwide health agencies to coordinate the recall. The Nexiva products have two Q-Syte devices within the package that could be affected. The Q-Syte devices are used with intravenous systems.

Becton has already recalled roughly 2.8 million Q-Syte and 2.9 million Nexiva units containing 5 million Q-Syte devices. Becton, Dickinson has identified the root cause of the manufacturing problem and has corrected it, according to the company.

We think that the product recall will have a minimal impact on Becton, Dickinson’s bottom-line. The company recently reported strong first quarter fiscal 2010 results. Earnings per share of $1.30 easily beat the Zacks Consensus Estimate of $1.20 and the year-ago earnings of $1.26. Becton also reported an expansion in its top-line with growth across all major business segments.

Becton, Dickinson and Company develops, manufactures and markets medical devices, supplies, laboratory equipment and diagnostic products globally. The company is a world leader in safety needle products. Becton competes with players like Baxter International Inc. (BAX), Johnson & Johnson (JNJ) and Abbott Laboratories (ABT).

Presently, we have a Neutral recommendation on Becton.

Read the full analyst report on "BDX"
Read the full analyst report on "BAX"
Read the full analyst report on "JNJ"
Read the full analyst report on "ABT"
Zacks Investment Research

Analysts at RBC Capital Markets have maintained a Sector Perform rating for Prosperity Bancshares, Inc. (NASDAQ: PRSP).

The company acquired $500 million in deposits, $100 million in loans and 19 branches from First Bank, a state-chartered bank based in Missouri. Analysts expect the transaction to be completed by the second quarter of 2010.

According to analysts, the deal is consistent with the Prosperity management’s goal of opportunistically growing the core Texas franchise. Analysts believe that the management at Prosperity Bancshares, Inc. is capable of finding acquisition targets, executing the transaction, and then making them accretive through reduction in risk and efficient management.

Analyst Mike Salinsky at RBC Capital Markets has released an update on Post Properties, Inc. (NYSE: PPS). The company has reported results for the fourth-quarter.

Post Properties, Inc. reported FFO of $0.17 per share, which is ahead of RBC’s estimate of $0.11 per share. The company reported operating FFO of $0.30, which excludes $0.16 per share of net charges, and $0.03 per share of condo gains. The company reported a year-over-year decline of 11.3% in NOI. The company reported a 6% year-over-year decline in revenue.

The company has also issued guidance for FY10. The company expects FFO to be in the range of $0.18-$0.32. The company expects operating FFO to be in the range of $1.03-$1.17, which excludes a $0.82 per share impairment charge, and $0.01-$0.04 per share of expected condo losses.

RBC Capital Markets has maintained an Underperform rating for Post Properties, Inc.

Analyst Mike Salinsky at RBC Capital Markets has maintained a Sector Perform rating for Camden Property Trust (NYSE: CPT). The company has reported results for the fourth-quarter, and also issued guidance for FY10.

Camden Property Trust reported FFO of ($0.53) per share, which includes impairment charges of $1.24 per share. The FFO was $0.71 per share, excluding the impairment charges. The company saw an erosion of 5.5% in same community NOI. The decline of 5.1% in revenue was partially offset by a decline of 4.4% in expenses.

The company also issued guidance for FY10. The company expects FFO to be in the range of $2.35-$2.65 per share for FY10.

The Walt Disney Co. (NYSE: DIS) reported net income of $844 million, or $0.47 per share, during its first quarter, beating the consensus estimate of $0.38 per share. Revenues rose 1.5% year-over-year to $9.74 billion versus the $9.66 billion consensus.

Media Networks revenues for the quarter increased 7% to $4.2 billion and segment operating income increased 11% to $724 million. Parks are Resorts revenues for the quarter were essentially flat at $2.7 billion.

CEO Bob Iger said the company was "excited" about upcoming movies "Alice in Wonderland" and "Toy Story 3". Disney is viewed as a baromter of consumer health because spending on its theme parks, stores, and movies is directly linked to how freely consumers are spending.

Shares of Disney rose to $30.43 in after hours trading after closing the regular session at $29.84.

Oil and natural gas firm Comstock Resources Inc. (CRK) reported weaker-than-expected fourth quarter results as low natural gas prices more than offset a rise in production volumes. The loss from operations came in at 15 cents per share, much wider than the Zacks Consensus Estimate of 7 cents. In the year-ago period, the company earned 22 cents per share (adjusted for after-tax impairment charges). Oil and gas sales were down 9.9% year-over-year to $90.2 million.

Estimate Surprise Trend

It was the company’s third negative earnings surprise in the past four quarters. Comstock has performed poorly during this period, with its average earnings surprise being -48.4%. This implies that the company has missed the Zacks Consensus Estimate by 48.4% over the last four quarters.

Volume Growth

The company’s operational performance during the quarter continued to reflect the success of its enhanced onshore drilling programs and property acquisitions, resulting in quarterly volume growth of 26.7% year-over-year to 19.1 billion cubic feet equivalent (Bcfe), of which 94% was natural gas. Production in the East Texas/North Louisiana operating region increased 55.8% to 13.0 Bcfe, while production from the South Texas properties came in at 4.6 Bcfe, an approximately 10.2% decrease from the year-earlier level.

Natural Gas Realizations Down

Average price realization per thousand cubic feet equivalent (Mcfe) was $4.73, down 28.9% from the year-ago quarter. Average oil price realization was $64.76 per barrel and average natural gas realization was $4.34 per Mcf, compared to $52.16 per barrel and $6.44 per Mcf, respectively, in the year-earlier quarter.
 
Costs & Expenses

Oil and gas operating costs were down 9.2% from the fourth quarter of 2008 to $18.7 million. However, overall operating expenses increased 9.9% year-over-year to $92.1 million.

Cash Flow & EBITDAX

Comstock generated operating cash flow from continuing operations of $67.5 million, a decrease of 15.0% from the year-earlier period. Quarterly EBITDAX (earnings before interest, taxes, depreciation, depletion, amortization, exploration expense, and other non-cash expenses) decreased 10.0% year-over-year to $64.4 million.

Capital Expenditure

During the fourth quarter of 2009, Comstock spent $90.9 million on its exploration and development activities. For 2010, management guided towards drilling spending budget of $385 million. Of the 2010 spending budget, 96% is dedicated to the company’s East Texas/North Louisiana operating region. The 2010 drilling program consists of approximately 59 wells (42.6 net). Of these, 56 wells (41.1 net) are horizontal Haynesville shale wells.

Balance Sheet

At the end of 2009, Comstock had approximately $90.5 million in cash and cash equivalents and $470.8 million in long-term debt. Debt-to-capitalization at the end of the quarter was 30.6%.

Read the full analyst report on "CRK"
Zacks Investment Research

Molson Coors Brewing Co.’s (TAP) second-quarter earnings came in at $222.1 million, compared to $93.7 million in the year-ago quarter. Excluding certain one-time items, pro forma earnings came in at $1.02 per share, which missed the Zacks Consensus Estimate of $1.10 per share derived from 9 covering analysts. The worse-than-expected results were primarily caused by sluggish volumes and cost inflation in the U.S. and the U.K.

Net sales recorded a growth of 11.0% to $820.8 million from $739.2 million in the year-ago quarter, primarily due to positive pricing and favorable mix. In terms of segments, sales grew 8.9% to $442.8 million in Canada, 13.6% in the U.K. to $358.6 million and 15.5% in the international segment to $19.4 million.

Overall beer volumes slipped 4.0% year-over-year to 12.11 million hectoliters. The company’s Canadian segment volumes remained essentially flat at 2.099 million hectoliters, while the U.K. segment recorded a decrease of 9.3% to 2.462 million hectoliters.

Molson Coors’ gross margin improved by 260 bps year-over-year to 42.1%, mainly due to favorable mix and lower commodity and packaging-related costs in Canada. However, marketing, general and administrative expenses rose by 25.8% to $247.5 million, primarily due to higher compensation and brand investments. Accordingly, operating margin declined by 310 bps to 16.6% from 19.7% in the year-ago quarter.

Molson Coors ended the quarter with cash and cash equivalents of $723.2 million, compared to $390.9 million in the year-ago period. During 2009, the company deployed $170.4 million towards dividend payments, $124.7 million towards capital expenditure and $66.3 million towards investment in the MillerCoors JV.

Looking forward, Molson Coors expects volumes to remain challenging, particularly in the first-half of 2010 amid weak consumer demand. The Zacks Consensus Estimate on the company’s earnings for 2010 is currently pegged at $3.71 per share, which reduced by 3 cents over the past month as 5 of 10 covering analysts lowered expectations.

Read the full analyst report on "TAP"
Zacks Investment Research

UBS AG (UBS) has reported a fourth quarter net profit of CHF 1.21 billion ($1.1 billion) compared to a loss of CHF 564 million in the prior quarter and a loss of CHF 9.56 billion in the year-ago quarter. This is the first positive quarter since the third quarter of 2008.  Results were aided by lower costs and a tax credit. However, the company experienced an increase in client money outflows.

UBS reported a 21% year-over-year decline in expenses to CHF 5.18 billion, primarily reflecting the cost cut initiatives and the headcount reduction. The reported quarter’s results include a CHF 480 million tax credit is mainly attributable to the revaluation of deferred tax assets, principally in the U.S.

However, outflows of client money continued in the quarter. The company reported outflows of CHF 56.2 billion during the quarter, which picked up from CHF 36.7 billion incurred in the prior quarter but decreased from CHF 85.8 billion in the year-ago quarter.

Invested assets of CHF 2,233 billion on Dec 31, 2009, were down 1% sequentially but up 3% year-over-year. In the reported quarter, net new money outflows were CHF 33.2 billion for Wealth Management & Swiss Bank, CHF 12.0 billion for Wealth Management Americas and CHF 11.0 billion for Global Asset Management.

UBS AG’s tier-1 capital ratio increased to 15.4% from 15.0% at the end of the prior quarter and 11.0% at the end of 2008. Total risk-weighted assets were down 32% year-on-year to CHF 207 billion on Dec 31, 2009.

The global economic turmoil severely hurt the Swiss banking major’s balance sheet when the subprime crisis led to record losses. Additionally, the issues emanating from the dilution of Swiss banking secrecy significantly challenges the company’s sustainable recovery.

Read the full analyst report on "UBS"
Zacks Investment Research

Last night, the ETF Professor brought you news of China Investment Corp.'s positions in the U.S. Oil Fund (NYSE: USO) and the SPDR Gold Shares (NYSE: GLD), two of the most heavily traded ETFs listed on U.S. exchanges.

China Investment, the country's $300 billion sovereign wealth fund, is now the fourth-largest shareholder in USO, but USO and GLD aren't the only ETFs China Investment owns sizeable chunks of.

According to filings with the SEC, China Investment also holds 2.51 million shares of the Market Vectors Gold Miners ETF (NYSE: GDX), nearly 4.1 million shares of the iShares S&P Global Materials ETF (NYSE: MXI) and 2.95 million shares of the iShares S&P Global Energy ETF.

All of these ETFs have had rocky starts to 2010, but it is worth noting that China probably knows it is the driving force behind global commodities demand and it would not hold these ETFs if they weren't going to increase in value. Make of that what you will.

Chicago, IL – February 9, 2010- Kevin Matras goes over a Relative Price Change screen to help you find top performers no matter what the market is doing. Stocks in this week’s article include AmeriCredit Corp. (NYSE: ACF), Cabot Corp. (NYSE: CBT), MKS Instruments, Inc. (NASDAQ: MKSI), Seagate Technology (NASDAQ: STX) and Universal Technical Institute, Inc. (NYSE: UTI).

Screen of the Week written by Kevin Matras of Zacks Investment Research:

Over the last few weeks, I've found myself screening for stocks with the best Relative Price Changes in an effort to determine whether a stock is good or not.

Of course earnings growth and valuations are important. But if a stock is simply not responding, or even going down (worse than the market), something's wrong. Or at the very least, it's simply not ready to move higher.

This doesn't mean you should only look at its price change. But by including those kinds of things in your screening, some very interesting stocks will come up.

Once again, you'll also notice that I said relative price strength. There are, of course, periods where virtually everything is going down. So screening for absolute positive price changes will often times come up with zero results in these periods, just when you need them the most.

But also, when the market is doing nothing but going up, you want to get into the pacesetters and outperformers, not the laggards that are going up only because the rising tide is raising all the ships.

So using the relative price strength will always put the outperformers on your list in both good times and bad.

In this week's screen, I'm looking for relative price change winners that also have the fundamentals to potentially make these gains lasting.

For the rest of this Screen of the Week article, please visit Zacks.com at: http://www.zacks.com/commentary/13592/

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TheStreet.com (Nasdaq: TSCM) Gains Nasdaq Listing Compliance

Cognizant Technology Solutions Corporation (CTSH) reported revenues of $902.7 million in the fourth quarter, up 20% year over year and up 6% sequentially. Earnings per share (EPS) came in at 50 cents compared to 41 cents in the year-ago quarter and beat the Zacks Consensus Estimate of 46 cents.

Operating margin came in at 19.9%, in line with the management’s targeted range of 19% – 20%, but slightly down from 20.5% generated a year ago. During the quarter, the company expanded its headcount by 10,300 and ended the year with a headcount of 78,400.

Despite the global slowdown, Cognizant continues to deliver strong results. For 2009, the company reported revenues of $3.279 billion, up 16% from a year ago. Earnings per share came in at $1.90. Operating margin came in at 20.3%, almost flat with 2008. Cognizant ended the quarter with cash and equivalents of $1.1 billion, up from $735.1 million at year-end 2008.

Cognizant remains well diversified among verticals such as financial services, health care and life sciences, retail, manufacturing and logistics. This diversification has helped the company maintain its top line even in this tough economic climate.

Going forward, management expects revenues of at least $935 million in the first quarter of fiscal 2010. EPS is projected at 52 cents. For 2010, Cognizant expects revenues of at least $3.935 billion, an increase of 20% from 2009. EPS is estimated to be $2.19.

Given the early signs of economic recovery, we expect growth to accelerate in the coming quarters.
Headquartered in Teaneck, New Jersey, Cognizant is a leading provider of custom information technology to Fortune 1000 customers. The company competes with Infosys Technologies Ltd (INFY) and Wipro Limited (WIT) in this space.

Read the full analyst report on "CTSH"
Read the full analyst report on "INFY"
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Zacks Investment Research

Brazilian mining conglomerate Vale (NYSE: VALE) is climbing higher today on above average volume. The trend in commodity stocks has been down over the last month, but these names have seen an influx of buyers today. Vale (VALE) has moved 4.29% higher to $26.27. Over 25 million shares have traded hands versus a daily average of 23 million.

Vale is expected to report its quarterly earnings tomorrow. Analysts consensus estimates are that the company will report earnings per share of $0.32 on $6.44 billion.

Pulte Homes (PHM) has shown a loss of $835 million or $2.21 per share (before special items) for the fourth quarter of 2009, driven by weak demand for new homes. This is much broader than the loss of $480 million or $1.89 per share (before special items) in the same quarter a year ago and the Zacks Consensus Estimate of 17 cents per share.

Consolidated revenue for the quarter went up 6% to $1.7 billion, including the operations of the recently completed merger with Centex Corporation. Revenue from Homebuilding rose 7% to $1.6 billion. The increase in revenue reflected a 13% increase in closings to 6,200 homes, partially offset by a 7% decrease in average selling price to $258,000.

The net new home orders in the quarter, inclusive of Centex operations for the entire period, increased 113% to 3,748 homes. The quarter-end backlog as of December 31, 2009, was 5,931 homes, valued at $1.6 billion compared to a backlog of 2,174 homes, valued at $631 million for the fourth quarter of 2008.

Pulte’s Financial Services operations reported a pre-tax loss of $36.3 million for the quarter compared to $7.9 million in the prior-year quarter. The increase in pre-tax loss was attributable to mortgage repurchase reserve charges recorded in the quarter. The mortgage capture rate for the quarter was 81% compared to 92% for the same period last year.

Annual Results

In 2009, Pulte Homes reported a loss of $1.13 billion or $3.54 per share, compared to $1.5 billion or $5.81 per share for the prior-year period. The loss is wider than the Zacks Consensus Estimate of $1.05 per share.

Consolidated revenue in the year fell 35% to $4.1 billion, including the operations of the recently completed Centex merger. Revenue from Homebuilding decreased 35% to $3.9 billion. The decline in revenue reflected closings of 15,013 homes, a 29% decrease from the prior year, combined with a 9% reduction in average selling price to $258,000.

Pulte's Financial Services operations, inclusive of Centex's mortgage and title operations effective August 19, 2009, generated a pre-tax loss of $55.0 million compared to a pre-tax income of $28 million in the prior year. This was driven by increased loss from loan reserves, the 29% decline in mortgage loans originated compared with the prior year and merger-related costs.

Pulte had cash and cash equivalents of $1.86 billion as of December 31, 2009. The company remains on track to achieve targeted synergies and savings of $440 million from the Centex merger on an annualized basis by the end of 2010.

Based on the depressed results, Pulte’s stock price went down about 2.25% in Tuesday trading.

Read the full analyst report on "PHM"
Zacks Investment Research

Simon Cowell has already announced that this will be hist last season as an American Idol judge; however, many people have been wondering who will take his place.

Viewers are shocked about a possible replacement: Howard Stern.

That's right, the very blunt but a bit vulgar radio talk show star may be making his way to the American Idol scene.

Although Stern is very opinionated, he does not have the proper musical background to act as a judge. Furthermore, American Idol is a very family-friendly show and Stern does not exactly fall into that category. If Stern becomes the new judge on the incredibly popular show, many people may be turned off unless his humor is toned down for the current audience.

Although the decision is far from official, Stern did say that "a ton of dough" would have to be offered before he would fill Simon's shoes. Fans continue to play the waiting game until a final decision is announced.

When the Bureau of Labor Statistics puts out its monthly employment report like it did last Friday, the number of jobs gained or lost is the net number between jobs lost and jobs gained. Today, they put out a more detailed picture -- but for December, not January -- in what is known as the Job openings and Labor Turnover Survey (JOLTS).

This is a very interesting survey, but unfortunately it only goes back to 2000, so it is of limited usefulness in comparing this recession to other historical downturns. As the graph below (from http://www.calculatedriskblog.com/) shows, the biggest problem with the labor market is the lack of new jobs, not a particularly high rate of job losses.

People leave their jobs for a couple of reasons. They can quit, but they usually only do that when they already have another job lined up. Or they can be laid off or retire. The former are shown in the light blue bars, the latter in the red bars. Together they make up the number of jobs lost in the economy.

The purple line is the number of people hired each month. When the purple line is below the light blue bar (stacked on top of the red bar) it means that the economy is, on-balance, losing jobs (roughly corresponding to the establishment survey numbers from the monthly employment reports). The yellow line is the number of job openings. The numbers are snapshots at the end of each month.

In a dynamic economy, there will always be some jobs being lost, even in the most exuberant of economic booms, and there will always be people finding new jobs, even in the most brutal of economic downturns. It is the difference between them that matters.

Our Recent Job-Loss Environment

Without a question, 2009 was one of the more brutal years in the labor market in a very long time. However, in calendar 2009, hires totaled 49.4 million. That’s right -- there were 49.4 million people who started a new job in 2009. The problem was that separation totaled 53.6 million, yielding a net employment loss of 4.2 million.

The 49.4 million figure was way below normal. What is particularly noteworthy in the graph is that the total number of jobs being lost is just about at its lowest level on record, although the record is frustratingly short. Even in the worst days of the downturn a year ago, when the economy was hemorrhaging net jobs at the staggering pace of three quarters of a million per month, the total number of jobs actually being lost was below where it was for most of 2005, 2006 and 2007.

There was, however, a huge change in the make-up of jobs lost. With the overall economy imploding, the number of people willing to tell their boss to “take this job and shove it" fell dramatically, while the number of involuntary separations soared.

The number of layoffs has since receded. It is still somewhat elevated relative to the overall short history of the survey, but it is well off the peak. The big drop in the layoff rate came in the spring, shortly after the ARRA came into effect. Thus it looks like the Act has been relatively more successful at saving jobs than at creating them.

Declines Began Pre-Recession

The core of the problem was the number of new hires fell even faster. The decline in the number of new jobs being created started in the middle of 2006, well before the recession formally started in December of 2007. The number of layoffs bounced around, but the number of people quitting their jobs fell, allowing for net job creation to continue even with fewer people getting hired.

The number of people willing to quit their jobs plunged in the first half of 2009. The new hire rate actually bottomed out in May. Both it and the number of job openings seem to be in a broad U-shaped valley, no longer declining but not showing any signs of rising.

Relative to December of 2008, there were 9.6% fewer hires in December 2009, with a seasonally adjusted rate of 4.073 million, down from 4.508 million. Private hires were down 9.4% year over year.

Total separations were down 14.5%. However, they were running at a 4.238 million rate, which is still substantially above the new hire rate. Private job losses were down even more sharply, falling 15.6% year over year. Not surprisingly, the number of people voluntarily quitting their jobs is also down, off, 16.6%.

The report does not directly give the number of layoffs, but it does give the number of quits, so subtracting quits from total separations gives us a rough idea of the total number of layoffs (but also includes retirements). The number of apparent layoffs is down to 2.474 million in December 2009, from 2.844 million a year ago, a decline of 13.0%. The number of job openings, though, is down even more, off 22.5% to 2.497 million from 3.224 million a year ago.

Unemployment Ratio Way Up

According to the household survey in the employment report, the number of unemployed was 15.267 million in December. Thus there are now 6.1 unemployed people for each job opening. That is up from 3.7 job seekers per job a year ago.

Regionally, the Northeast seems to have fared the best. The number of new hires in the Northeast was actually 3.0% higher in December than a year ago. It, however, is the smallest of the four census regions. The West has seen the biggest decline in the number of new hires, off 14.2% from a year ago, followed by the Midwest with a 10.8% decline. The South, the biggest of the four regions, saw a 8.6% decline.

However the Northeast also showed the smallest decline in the total number of separations, down just 4.5%. The South, on the other hand, saw a 17.7% decline, while the West was down 16.7% and the Midwest was down 13.6%.

Job Growth Budding - But Where?

The table below shows the number of job openings, hires are total separations broken down by industry. While not a huge industry to start with, the Arts and Entertainment field has seen a particularly steep drop in the number of job openings relative to a year ago, falling 45.0%. Meanwhile the number of separations has barely fallen at all, down just 1.9%.

In retail (these are seasonally adjusted numbers so it is not just Christmas), the number of job openings rose sharply in December from November, up 24.9%, but they remain 27.0% below a year ago. While retail jobs tend to be at the low end of the pay spectrum, firms like Wal-Mart (WMT) and Target (TGT) are among the biggest employers in the country (Wal-Mart is the biggest).

The pick-up in December could be just because of bad seasonal adjustments, but if it is real, it is a good sign about the total number of jobs in the economy. However, it is not that great an omen about the quality of the jobs being created.

In other words, what we are seeing is a big drop in the mobility of the job market. One potential reason for this could be the housing market. If people cannot sell their house because they are underwater on their mortgage, they are less likely to move to take a new job.

However, the short length of the time series makes any conclusions of that sort very tentative. That said, it does seem clear that the real problem is the lack of new job creation, not the rate of job losses.

The government line is both Federal as well as state and local, so to get the Federal Government numbers subtract the state and local line from the total government line.

Dirk van Dijk, CFA is the Chief Equity Strategist for Zacks.com. With
more than 25 years investment experience he has become a popular commentator
appearing in the Wall Street Journal and on CNBC. Dirk is also the Editor in
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Coca Cola Company (KO) reported fourth quarter 2009 results with earnings of 66 cents per share, which was in line with the Zacks Consensus Estimate. Earnings were up 3.0% year-over-year.

Net revenues increased 5.4% year-over-year during the quarter, due to a 5% positive impact from currency translation and 1% increase in concentrate sales which were partially offset by a 1% impact from pricing and mix.

Worldwide unit case volume increased 5% in the quarter, aided by a 6% improvement in international unit case volume and a 4% growth in Coca Cola, its trademark brand. The emerging markets of China and India grew an impressive 29% and 20%, respectively.

France also reported a strong growth of 12% during the fourth quarter. In addition, strong unit case volume growth was observed in other key markets including Brazil, Mexico and Germany. Europe posted a 1% volume growth, while North American volume declined 1%.

Carbonated soft drink (CSD) case volume grew 3% during the quarter, after a continued decline for more than a year. Non carbonated beverage (NCB) volume increased 9% led by sound growth across the portfolio, including juices and juice drinks, sports drinks, teas and water brands. In North America, NCB’s were flat year-over-year.

Gross profit margin expanded 74 basis points (bps) to 64.7% in the quarter versus 64.0% in the comparable prior-year period. The increase was primarily attributable to positive foreign currency fluctuations and lower commodity costs.

Cash from operations for the year was $8.2 billion, reflecting an increase of 8%. The company has a debt-to-capitalization ratio of 16%.

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Valentine's Day is a great opportunity for you to show your significant other how much you care about them. However, it is easy to be very cliche and settle for a nice dinner and a movie. Go against the grain this year and plan a romantic date at an affordable price.

1.) Cook Together

Be sure to decorate the house, turn on low music, and light the candles as you enjoy a bottle of wine while you cook together. This is a highly romantic setting for serious couples that should not be overlooked.

2.) Visit a Winery or Bakery

Valentines Day is known for sweet treats. You and your significant other may enjoy wine tasting or eating something sweet together at a local bakery. Make sure the atmosphere is comfortable and intimate.

3.) Rent a Cabin

Depending on your taste, renting a cabin may be a great alternative for this Valentine's weekend. Be sure to bring a bottle of wine, prepare for cold weather, and book a place with a hot tub.

Make sure to avoid the crowd and make your significant other feel important on this day designed to celebrate love and happiness.

TORONTO (SHfn) – Junex (TSX:V.JNX) shares jumped 13% to $1.95 on Tuesday after the energy junior announced that Netherland, Sewell & Associates, Inc., an independent reservoir engineering firm based in Texas, has provided their "Best Estimate" of the Prospective Original Gas in Place Resources (OGIP) volumes for the Utica Shale on the Junex's Nicolet Permit in the St. Lawrence Lowlands at 8.67 Trillion Cubic Feet (TCF). Junex's 50% interest of this Prospective Resources OGIP volume is 4.33 TCF.

As well, shares of Drake Energy (TSX: V.DPE) moved up 33% to 14 cents as the micro cap energy explorer reported the re-entry of a horizontal well (01-24) at Sousa in Alberta. The well is currently producing over 120 BBLD of light sweet crude oil. The well has been producing since the beginning of the month and has seen steadily increasing levels of production. The 01-24 well is expected to qualify for both the 5% royalty program and the transitional royalty rates.

Western Coal (TSX:T.WTN), meanwhile, announced third-quarter sales of $118.7 million and earnings of $24.0 million, or 10 cents a share. The company lowered its Canadian operations cash costs (cost of product sold plus transportation costs) to $96 per tonne, which was 4% less than the previous quarter, while U.S. operations cash costs fell to US$66 per short ton, or 7% lower than the previous quarter. Cash in the bank as at December 31, 2009 was $150.1 million, or $55.5 million more than September 30, 2009. Western Coal stock popped 11% to $3.50.

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Unisys Corporation (UIS) reported revenues of $1.21 billion in the fourth quarter of 2009, down 5% year over year. Foreign exchange rates had an approximately 5 percentage-point positive impact on revenue in the quarter.

Revenue in the United States declined 14% to $495 million. Revenue in international markets increased 1% to $715 million.

On a segment basis, revenue from the services segment declined 9% year over year. Customer orders in this segment showed mid-single-digit declines from year-ago levels as growth in outsourcing orders was offset by declines in systems integration and consulting orders.

Revenues from the technology segment increased 19% year over year. And Unisys' technology business grew revenue 19% in the fourth quarter, driven by strong sales and ClearPath systems (a family of enterprise-class servers).

Gross margin improved to 28% from 18.6% in the year-ago quarter, driven by cost efficiencies in services delivery and strong sales of ClearPath servers. Operating margin improved to 10.8% compared to an operating loss of 3.7% in the year-ago quarter. Net income came in at $114.5 million, or $2.64 per share, in the fourth quarter compared with a loss of $58 million, or $1.59 per share, in the year-ago quarter.

Unisys generated $215 million of cash from operations in the quarter, compared with $138 million in the year-ago quarter. Capital expenditures in the fourth quarter of 2009 were $52 million, compared with $80 million in the year-ago quarter.

As of December 31, 2009, Unisys had $648 million of cash on hand, up from $544 million at the end of 2008. The company had a long-term debt of $845.9 million, down from $1059.1 million at the end of 2008.
For 2009, revenues declined 12% to $4.60 billion. Foreign currency fluctuations had an approximately 4 percentage-point negative impact on revenue for the full year.

Going forward, management expects 2010 to be tough, particularly the first half of the year, as Unisys works through an uncertain spending environment. Management continues to focus on improving profitability and generating cash flow. Management will also focus on strengthening the balance sheet and reducing debt.

Meanwhile, Unisys recently sold its Payment hardware, Payment supplies, US-based Payment maintenance, and the associated Payment research and development and Payment sales organization to Marlin Equity Partners.

Although management is making progress in expanding margins, we remain cautiously optimistic of the pace of IT spending recovery and the maturing of higher-margin legacy product sales and services.

We are reissuing this article to correct a mistake. The original article, issued earlier today, should no longer be relied upon.

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Principal Financial Group’s (PFG) fourth quarter earnings of $200.9 million or 62 cents a share missed the Zacks Consensus Estimate of 65 cents. The company had earned $179.0 million or 69 cents in the year-ago quarter.

The miss was driven by lower-than-expected revenue. Also, the reported quarter had more shares outstanding due to the company’s common stock offering in May 2009.

Including the realized capital losses, Principal reported net income of $141.9 million or 44 cents a share in the quarter, compared to a loss of $7.5 million or 3 cents a share a year ago. Net realized capital losses fell to $59.1 million from $188.9 million reported in the prior-year period.

For full-year 2009, Principal earned $589.7 million or $1.97 per share, up from $425.1 million or $1.63 per share in 2008. Excluding realized capital losses, the company reported operating earnings of $804.1 million or $2.69 per share, compared to $942.7 million or $3.61 per share in 2008. The results were also below the Zacks Consensus Estimate of $2.72 per share.

The stressed economic environment has impacted the company’s results. While consumer confidence remains weak, business and institutional investors continue to proceed with caution. This has impacted sales and net cash flows. However, the improvement in the stock market has provided some relief.

For the reported quarter, Principal reported a decline in premiums to $930.1 million, from $950.3 million in the prior-year quarter. However, the company continued to benefit from its cost containment initiatives. Operating expenses were down $375.6 million or 12% compared to 2008.

Assets under management (AUM) increased 1.5% sequentially and 15.3% year-over-year, driven by improved results at the company’s three asset management and asset accumulation segments.

Book value came in at $23.05 per share, up from $21.85 as of Sep 30, 2009, and $7.45 as of Dec 31, 2008. Operating book value was $26.31 per share as of Dec 31, 2009, flat compared to $26.34 at Sep 30, 2009, and $26.39 at Dec 31, 2008. Results reflected capital infusion from the stock offering combined with improvements in the credit market.

Segment Performance

Operating earnings of the U.S. Asset Accumulation segment were $125.3 million, up 21.9% year-over-year. The segment’s AUM was $159.8 billion, up 0.6% sequentially and 14.9% year-over-year.

Operating earnings of the Global Asset Management segment were $12.7 million, significantly down from $27.0 million in the year-ago quarter. Results in the prior-year period included earnings of $15.6 million (after-tax) from a performance fee (under the terms of the contract, this performance fee is determined every five years). The segment’s AUM was $73.8 billion, up 0.8% sequentially and 5.0% year-over-year.

International Asset Management and Accumulation segment's operating earnings was $39.5 million, up from $18.4 million in the year-ago quarter, primarily driven by higher fee revenues on higher AUM and improving macroeconomic conditions. The segment’s AUM was $34.6 billion, up 10.2% sequentially and 49.8% year-over-year.

Operating earnings of the Life and Health Insurance segment were $44.6 million, compared to $50.6 million in the year-ago quarter, reflecting higher claim costs. The company also reported a decline in group medical covered members.

Though Principal’s strong franchise within the pension sector positions it well to benefit from improvements in the credit market and economy as a whole, we believe such a recovery will be prolonged as a result of the continuation of the weak economic environment.

Read the full analyst report on "PFG"
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