Zacks Analyst Blog Highlights: Baker Hughes, Terex, Caterpillar, Marathon Oil Corporation and Citi Trends - Press Releases

For Immediate Release

Chicago, IL – August 19, 2010 – Zacks.com Analyst Blog features: Baker Hughes Inc. (BHI), Terex Corp. (TEX), Caterpillar Inc. (CAT), Marathon Oil Corporation (MRO) and Citi Trends Inc. (CTRN ).

Here are highlights from Wednesday’s Analyst Blog:

Baker Hughes Acquires Tanroc

Baker Hughes Inc. (BHI) acquired oilfield equipment and service supplier Tanroc, which served as the Canadian distributor for the company's LIFTEQ systems prior to its acquisition.

Primarily based in Lloydminster, Alberta, Canada, Tanroc facilitated in the supply of progressing cavity pumping (PCP) systems, surface production equipment, as well as variable frequency drives for downhole pumping systems and wellhead drives.

Terex Expands in China

Terex Corp. (TEX) is expanding its presence in China as is evident from these two announcements — its move to acquire a 65% control of privately held, Jinan-based crane maker Shandong Topower Heavy Machinery Company and a joint venture agreement with Fujian South Highway Machinery Company to establish a mobile materials processing equipment manufacturing in Quanzhou, China.

Shandong Topower Heavy Machinery Company manufactures lattice boom crawler cranes in the 70 to 360 ton class. The acquisition of Topower will strengthen Terex's position in the crawler crane market in China.

Terex will be a 60% owner in the materials-processing joint venture with Fujian South Highway Machinery Company, which will manufacture jaw crushers, cone crushers, impact crushers and screens for aggregates, mining and material recycling applications. Both the acquisition and joint venture are expected to close by the end of 2010.

Terex's competitor, Caterpillar Inc. (CAT), also announced plans to expand its excavator facility in Xuzhou, China. Caterpillar is eyeing emerging markets, particularly China, India and Brazil in order to accomplish its long-term goals. Likewise, the Topower acquisition by Terex might resuscitate the latter's underperforming Crane segment.

Marathon Continues To Be Neutral

We have retained our Neutral recommendation for Marathon Oil Corporation (MRO) following its second-quarter earnings release. Our decision reflects the leading integrated oil and gas company's strong operational performance and array of development projects, partially offset by the volatile oil and gas prices along with macro-economic factors.

The company's earnings per share in the quarter, excluding special items, came in at $1.11, surpassing the Zacks Consensus Estimate of 82 cents and the year-ago period adjusted profit of 35 cents. Total revenue of $18.6 billion increased 39.5% year over year and was 3.6% above the Zacks Consensus Estimate.

Citi Trends Disappoints, Shares Plunge

Citi Trends Inc. (CTRN ) reported sluggish fiscal 2010 second-quarter results before the opening bell on Wednesday. The company’s net loss widened to $567,000 from a loss of $69,000 in the year-ago quarter. Loss per share came in at 4 cents, behind the Zacks Consensus Estimate for a profit of 7 cents per share.

Citi Trends further disappointed investors by slashing its guidance for fiscal 2011 by a significant margin. The company now expects earnings of $1.60 to $1.70 per share on same-store sales growth of flat to 2% in the second half of 2010. Citi Trends earlier predicted earnings of $1.75 to $1.80 per share.

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BAKER-HUGHES (BHI): Free Stock Analysis Report
 
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CITI TRENDS INC (CTRN): Free Stock Analysis Report
 
MARATHON OIL CP (MRO): Free Stock Analysis Report
 
TEREX CORP (TEX): Free Stock Analysis Report
 
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