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| QAD | (NSDQ: QADI)Add to My Watchlist |
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| Tue, Aug 25, 2009 | ||
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QAD Inc. F2Q10 (Qtr End 31/07/09) Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Your first question comes from Mark Schappel - The Benchmark Co. Mark Schappel - The Benchmark Co. Daniel, with respect to your customers and bankruptcies, is it fair to assume that they’re in the automotive sector? Daniel Lender Actually it’s across a couple of different...
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Trading Radar for 11/24: Heinz (HNZ), Dollar Tree (DLTR), Eaton Vance (EV), Hormel Foods (HRL), J. Crew (JCG) Report
Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=5134314 for the full story.
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StreetInsider
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| Wed, Sep 16, 2009 | ||
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QAD's Ebitda for Latest Quarter Released by EbitdaEXTRA - StockTrendNews.com e... | |
| Tue, Sep 15, 2009 | ||
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Annualized Revenue Comparisons for QAD and its Industry Now Available from T12_NEWS - StockTrendNews.com s... | |
| Mon, Sep 14, 2009 | ||
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StockDiagnostics.com Upgrades QAD's OPS Ranking - StockTrendNews.com o... | |
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Two Quarter Cash Flow from Operations Turns Positive for QAD - StockTrendNews.com c... | |
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| Mon, Oct 19, 2009 | ||
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Lee D. Roberts Appointed New infoGROUP Independent Director - Business Wire | |
| Fri, Oct 16, 2009 | ||
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QAD Inc. Conference Call for Fiscal 2010 Third Quarter, Tuesday, November 24 at 2:00 p.m. PST (5:00 p.m. EST) - Business Wire | |
| Thu, Sep 24, 2009 | ||
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QAD Declares Quarterly Dividend of $0.025 Per Share - Business Wire | |
| Tue, Aug 25, 2009 | ||
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QAD Announces Fiscal 2010 Second Quarter Financial Results - Business Wire | |
| Tue, Aug 18, 2009 | ||
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QAD Completes Equity Exchange Program - Business Wire | |
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| Tue, Aug 25, 2009 | ||
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Fed Chairman Bernanke Gets Encore - Wall Street Greek | |
| Tue, Nov 25, 2008 | ||
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Earnings Review: 25th November
Ann Arbor, Michigan-based Borders Group Inc. (NYSE: BGP) said that its third-quarter net loss widened to $172.2 million, or $2.85 a share, from a loss of $40 million, or 68 cents a share, in the year ago period.[More...]
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home: iStockAnalyst....
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| Tue, May 27, 2008 | ||
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Week Ahead - Critical Oil Price Threshold Reached
Did you feel a little twinge last week? Sure you did. Think about it. It probably felt like a noose tightening around your neck, or a fire burning the wallet in your back pocket. "The Greek" believes we finally crossed the critical oil price threshold last week, and nobody noticed. We are of course talking about the price point where energy really starts to impact economic demand.
It developed sort of like how a caged dog, one within an invisible electronic fence, feels a shock as he approaches or crosses it. Americans likely felt a similar threshold surpassed last week. It certainly was a hard one to cross, after all, it took months of price rise past the points most economists thought would do it. It seems we finally reached the critical point for oil and gasoline pricing, where individual consumers will begin to seriously consider conservation and alternative energy resources. More on that in a minute... Last Week Stocks moved lower throughout last week, as rising oil prices raised broader economic concern. The Dow Jones Industrials moved 3.9% lower, while the S&P 500 fell 3.5% and the Nasdaq Composite slipped 3.3%. The decline was broad reaching, as seen by the similar moves across the diverse indices. The blame for the tough week clearly fell upon oil. Crude oil futures for July delivery started the week just under $127, and ended it at $130.51, touching a high of $135 on Thursday. Meanwhile, just ahead of the big Memorial Day weekend, one that is well known for motor vehicle traffic, gasoline prices skyrocketed as well. June futures for gasoline started last Monday morning at $3.23 a gallon on the Mercantile Exchange, and closed Friday at $3.32. The good news is that oil and gasoline prices backed off Thursday’s highs to close the week a step lower. However, stocks found no solace in that news, since the slide likely came on profit-taking, not fundamental reasoning. However, the highs probably likewise benefited from trading momentum, so the slip was good news just the same. Wednesday helped to fuel the most recent energy spike, as the Energy Information Administration reported a weekly draw of 5.4 million barrels of oil from storage. Meanwhile, the media had much to feed the frightened with as well. Oil executives were grilled on Capitol Hill last week by a Senate panel. The Senators highlighted the contrast of oil company profits and excessive executive compensation with the inflation burdened American public and an economy that teeters on recession. At the same time, Congress passed an insanely dangerous measure that might lead to legal suit against OPEC. Seems Congress never heard the saying about not biting the hand that feeds you. The Good News However, as the stock market worried about the impact of high gas and other prices, it likely also foreshadowed a price-induced conservation of energy that should decrease demand for it. In other words, a threshold looks to have been passed, where people will actually now seriously consider travel distance and other fuel expenditures in their plans. This seems to indicate that petroleum might trade in a range in the near term. You’ll want to check into the Wall Street Greek website this week, as we are preparing an in-depth petroleum market report. The Week Ahead The abbreviated trading week still holds a powerful concentration of economic data on the schedule. Tuesday Consumer Confidence for the month of May was reported Tuesday morning, falling to 57.2, versus consensus expectations for a reading of 60.0. That compares with a reading of 62.3 in April. Also reported on Tuesday, New Home Sales for April follow Friday’s Existing Home Sales data, which while down, still beat expectations. We expected that seasonal impact and dramatically low recent levels to compare against might offer a positive surprise in this report. Sales ran at an annual pace of 522K in March, missing that month’s consensus expectation by a mile. When reported this morning, April sales ran at a pace of 526K, up slightly. The S&P Case Shiller Index built upon the weak sales data, showing that home prices continued to moderate in March and of course in the first quarter (-14.1% from last year's period). Tuesday kicks off the shortened week's earnings schedule, including reports from Borders Group ( Wednesday Wednesday’s Durable Goods report and Thursday’s Corporate Profits seem poised to stab economic hopes in the back. Most of the preceding data on the subject of corporate profits has indicated that they've been sickly this past quarter. Let's not mince words. Regarding durables, Bloomberg's consensus expects a monthly decrease of 1.1% for April orders. That would compare with a 0.3% decline in March. We like to remind readers that just-in-time production-to-delivery processes, supportive technology and fluid distribution channels have helped companies to manage inventories at an increasingly efficient rate. So, inventory levels might fluctuate in a volatile fashion from month to month as a result. Four consecutive months of decline, however, clearly reflect the softening domestic demand, capacity consolidation and economic weakness we've seen this year. Minneapolis Fed-Man Gary Stern and Dallas Fed President Richard Fisher are both scheduled to address audiences on Wednesday. Barron's correctly reports that Fisher's comments might offer some interesting perspective, as he has dissented against rate cuts three times in recent history. What he has to say about inflation might prove enlightening, if he speaks openly. The weekly same store sales data reported by the International Council of Shopping Centers - UBS, gets pushed back a day this week due to the holiday. So, you can look for that very important and under followed metric on Wednesday morning this week. In case you missed it, last week's report showed a sales spike of 1.6% year-over-year. The Mortgage Bankers' Association reports on mortgage activity Wednesday morning as usual, however, we find little insight from the report still. Later, it will be interesting to follow how mortgage rates might rise with inflation, thus curtailing housing market recovery. The EIA usually reports Petroleum Status on Wednesday, but this report is often pushed back a day during shortened weeks, and this week will be no exception. Look for oil market news on Thursday. Wednesday's earnings schedule includes American Eagle Outfitters ( Thursday The top story on CNBC Thursday morning should be the first revision of Q1 GDP. We could see the number reported in contraction territory or close to it, from its first reporting at +0.6%. This report looks to be highly influential to market direction and even medium term market movement, as it addresses one of two key market concerns very directly. Those two key concerns are of course economic growth and inflation. Economists well-informed by other since revised and late reported economic data are actually forecasting an upward revision for GDP, to 1.0% growth for Q1. As indicated earlier, Corporate Profits will also be reported on Thursday morning, and most data have offered indication of a dramatic decline in corporate earnings. Profits are finding pressure from both directions. The soft economic environment is impacting the top line and rising costs are squeezing margins at the same time. For this reason, economic recovery seems limited in opportunity, and stocks upward potential likewise capped. Weekly jobless claims are due on schedule, and Bloomberg's consensus expects 370K or so new benefits filers. Last week's report showed 365K. The Help-Wanted Index is also due, but its significance has been reduced by the advent of online job search tools. We suspect there will be a second wave of job market decline in the months ahead as pressure mounts on corporate executives to preserve shareholder value. The Energy Information Administration will report on Petroleum Status on Thursday this week. The data will of course prove an important news bit, and especially so after a draw from inventory of 5.4 million barrels last week. Natural gas will be reported upon on its regular schedule, meaning the two reports reach market simultaneously this week, offering a powerful concentration of energy data all at once. At the start of the week, energy prices were already backing off recent highs, as it becomes plainly apparent that the demand sensitive threshold has been reached. Ben Bernanke will perhaps yodel his speech on liquidity in Switzerland on Thursday, while Tim Geithner addresses a group in New York. With food shortage and inflation in focus, the OECD and the United Nation's Food and Agriculture Organization will issue their 2008 outlook on agriculture. Thursday's earnings schedule includes Costco ( Friday Get ready to get busy on Friday, with a grand slam of reports due, including Personal Income & Outlays, the Chicago area manufacturing report, University of Michigan Consumer Sentiment and Farm Prices to close it out. The closely followed and very important Personal Income & Outlays Report will be released at 8:30 a.m. Bloomberg's consensus forecasts personal income growth of 0.2% for April. Income growth is unfortunately indirectly pressured by international competition for goods and services that leads American firms to seek cost consolidation. American Axle, which settled with the UAW last week, suffered through a long strike for the sake of cost reduction, achieving a significant savings in wage rates and in pension benefit liability. The length that American Axle was willing to go is a testament to the significance of market force pressures. The big headline on Friday will of course be personal consumption expenditures, as the market seeks to understand just how much the American consumer is actually tightening his belt. Bloomberg's surveyed economists see an increase of 0.2% for April. Lehman Brothers ( The University of Michigan/Reuters weighs in on Consumer Sentiment on Friday, and the consensus sees the May measure reaching 59.5 (same as the earlier check), compared to 62.6 in April. Chicago area manufacturing gets a check up on Friday as well, and economists see the regional index at 48.5 in May, versus 48.3 in April. Farm prices are also on tap, marking the second chew on food inflation this week. Treasury Secretary Paulson is scheduled to visit the Middle East to appease foreign investor concern, as Congress discusses the issue of sovereign investment. It's likely the issue came up during President Bush's visit, and so he's now sending Paulson to further quell concern. Friday's short list of earnings reports includes China Finance Online ( Please join us all week long as we comment on the stock market, commodity, currency and economic environment. See our disclosure at the Wall Street Greek website.  
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| Mon, Aug 20, 2007 | ||
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The Greek's Week Ahead - Fed Half Devils
"It's all because of doing things by halves," he would often say to me, and "saying things by halves, that the world is in the mess is in today. Do things properly by God! One good knock for each nail and you'll win through! God hates a halfdevil ten times more than an archdevil!" Nikos Kazantzakis' Alexis Zorbas Wall Street Greek proudly borrows these words from Kazantzakis, and we thank his family and Simon and Schuster, who published the book, "Zorba the Greek", in 1953. We also hope the film producers of the 1964 masterpiece, Michael Cacoyannis and the late Anthony Quinn approve. We recently discovered that Mr. Quinn, one of our personal favorite actors, was our neighbor as well here in New York. We know surely that Zorbas would enjoy our reference. In fact, he would very likely declare, "My words are like a gift to the world. From the second they leave my lips, they are free to go and wander, to find and inspire ears that need a good tug and minds that need inspiration." We have always found Zorbas' words inspiring. Over the weekend, as we contemplated the significance of the Federal Reserve action of last week, and the many interpretations of it from the scores of talking heads who are paid to respond as quickly and conclusively as possible, we grasped desperately for some conclusion of our own. Is the Federal Reserve body genius or fool we pondered... In the end, we decided that it was likely somewhere in between, in the gray area almost always overlooked in today's society. We believe that our own confusion is representative of how the market will feel and act during the weeks that follow. Also, we are sure that any doubt that exists is the fault of the Fed, and it's half action. But, let's take a scientific approach, and try to weigh both sides of the argument, one of which we buy into more than the other. The weaker argument, in the Greek's view, is that the Fed action will have no impact. We think it's weaker, but its basis has merit. A fifty basis point cut to the discount rate will help move capital within the commercial paper market, and at least unclog one pipe. However, if the CP market were one clog, then there's an entire plumbing system here that is in need of repair. The Fed is taking a targeted approach to things, when we believe a major overhaul is necessary. When Bear Stearns ( The Fed is plugging up leaks in a dam with its fingers. Eventually, it's going to have to fix the damned dam, or it's going to run out of fingers. The real problem here is that mortgage borrowers are defaulting on their loans, and it doesn't really matter whose fault it is. You can blame borrowers for signing contracts they couldn't fulfill, or the mortgage brokers for pushing bad loans in bad ways; or you can blame the middlemen for packaging them up into securities; or you can blame the institutional investors who bought them and allowed the market for fool's gold to grow. When it's all said and done, with economic recession threatening, the pending default of too many homeowners is the root of both the problem before us and its cure. We must address that issue to secure the dam. Those who argue that a drastic Fed target rate cut is the wrong choice in a moral dilemma are missing the point entirely. The moral dilemma has already been broken, and it happened when all those parties made all those decisions unchecked by federal regulators. It's not up to the Fed now to play regulator OR judge. It's up to the Fed to help seven million mortgage borrowers renegotiate out of their loans into something more manageable. Because, if we do not, we will allow a process to continue that will drive softer consumer spending, retail and other consumer service consolidation, rising unemployment and broader economic distress. The other side of the argument is that the Fed has somehow signaled that it will give up its crusade against inflation if necessary to preserve economic growth. We believe that's always been the case, despite the stubborn, if not ignorant commentary from William Poole. The problem is that it will likely take "financial calamity" to spur that action. Still, in the near term, the market will likely interpret this latest move as an indication that the Fed has our backs. From this, the market should strengthen, but only until it becomes clear that the Fed has not solved the problem yet. Then, once again, the market will question whether the Fed is willing to fix the real problem and drop the target rate sharply and decisively. We expect William Poole and his friends to help drive market participants to raise the query we refer to. Still, the market will likely be more confident of Fed action on that day than it was before the market opened last Friday, when futures were indicating imminent crash. Now, let's take a look at the week ahead... During an especially light week for economic data, July Leading Indicators will be reported by The Conference Board on Monday morning at 10:00 EDT. Ironically, the report will be greatly influenced by stale data. It's expected to show a rise of 0.4%, thanks to July's stock market gains and improved consumer confidence, both of which are expected to have waned in August. Leading Indicators fell 0.3% in June. President Bush is expected to meet with the leaders of Mexico and Canada to discuss regional issues. Topics of discussion are likely to include Arctic territorial disputes, where Russia recently started a land claim race. The believed to be resource rich region has since drawn counter claims from the United States, Canada and Denmark. For those of you unaware, Greenland is a territory of Denmark, thus providing the otherwise tiny nation with good cause to pursue the case. The earnings week will be kicked off with reports from Lowe's ( On Tuesday, the International Council of Shopping Centers-UBS report their weekly same-store sales data. Last week's report showed a 0.9% decrease week-to-week and 2.3% increase over the prior year result. The consumer is clearly softening in our view, as evidenced by the slower growth of retail spending. This should be concerning to the Federal Reserve, as consumer spending is the key underpinning of the American economy. At 10:00 a.m., the State Street Investor Confidence Index will be reported for August. The index is based on the levels of risk in investment portfolios through the previous Wednesday. In light of the period under consideration and the fact that retail investors withdrew some $2 billion from stock funds last week, we expect the index to fall below last month's reading of 87.0. Though William Poole may be locked in a sound proof room, Richmond Fed President Jeffrey Lacker is scheduled to address the Risk Management Association in Charlotte, N.C. He'll be discussing the economic outlook. Recall, Lacker has been very hawkish in months past, so this could make for a few interesting quotes. Shareholders of Tribune ( At 7:00 a.m. on Wednesday, the Mortgage Bankers Association reports its weekly Purchase Applications. While the general trend is influenced by housing demand, weekly data often reflects short-term changes in interest rates. At 10:30 a.m., the Energy Information Administration will offer its weekly Petroleum Status Report. Uncertainty surrounding the path of Hurricane Dean deterred weakness in oil commodity pricing last week. Now that it appears very likely Dean will keep on a southerly route, oil prices would be expected to soften. Only, the Fed's recent action, and a growing view that the Fed will act to cut the Fed Funds Target Rate on or before their September meeting, could help to build a new floor under oil now. Wednesday's earnings schedule includes Abercrombie & Fitch ( Thursday's Weekly Initial Jobless Claims Report is expected to show a measure 320,000, compared to the prior week level of 322,000. Last week's measure exceeded expectations and may already reflect the beginnings of consolidation in retail that we've been expecting, as well as job losses in housing and mortgage finance. Housing has been somewhat deceiving, we believe due to high levels of illegals within the workforce. The same goes for the restaurant sector. The EIA will report Natural Gas Inventory at its usual 10:30 slot. 21 Bcf was added to storage last week, and if not for the hurricane, we expect natural gas related shares would not have recovered to end the week. However, the tide of renewed economic enthusiasm also lifted all ships on Friday. In international news, the Bank of Japan is scheduled to conclude a two-day meeting on Thursday, and in light of recent market turmoil, the BOJ is expected to hold rates steady. In company specific news that the market might find greater implication in, Home Depot ( Thursday's earnings schedule includes Aeropostale ( Friday brings two important economic news bits. At 8:30 a.m., Bloomberg's consensus of economists expects July Durable Goods Orders to post a rise of 1.0%. June orders rose 1.4%, falling short of expectations for an increase of 2.0%. We anticipate durable goods orders for July and August will trend lower, and we continue to anticipate slowing domestic economic growth to dictate a relatively weak order flow through the second half of the year. At 10:00 a.m., July New Home Sales are expected to show an annual pace of 820,000, down 1.7% from June's 834k. We continue to anticipate that consolidation within the home building industry will impact new home construction, and with the aid of price reduction, finally allow inventory to dissipate slowly. Friday's earnings report slate includes AnnTaylor Stores ( Receive Wall Street Greek via email by subscribing here . If you change your mind, it's easy to unsubscribe. We respect your privacy and will not share your information with any third party. ( disclosure )
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| More Blogs | ||
| Conference Calls for QADI |
| 11/24/09 |
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Q3 2010 Earnings
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| 08/25/09 |
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Q2 2009 Earnings
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| 05/28/09 |
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Q1 2010 Earnings
Archive for QADI |
| 03/12/09 |
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Q4 2009 Earnings
Archive for QADI |
| 11/25/08 |
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Q3 2009 Earnings
Archive for QADI |
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