Delayed Alerts for December 29th

Monday, December 29, 2008

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12:42 pm

Market trading within boundaries not expecting much.

Not to many alerts today, because of the light volume and slow action, markets need to show some type of direction. HW which is on the watchlist for this week just got some news in the form.

Headwaters: Coal prices drop and housing/building activities deteriorate; tgt cut to $8 - Wedbush (6.79 -0.25)
Wedbush cuts their tgt to $8 from $11 and lowers their FY09 EPS and rev ests to $0.73 from $0.78 (consensus $0.75), and to $867.3 mln from $936 mln, respectively. Firm says with residential buyers dealing with Wall Street financial carnage and lack of confidence in government bailout program, firm now expects BP segment to be down 10.1%, increased from their previous estimate of down 7.8%. With spot coal prices dropping significantly since April '08 and economic activities collapsing under the global economic slowdown, firm believes there is increased pricing risk as the co looks to negotiate off-take agreements with delivery beginning April 1, 2009. Firm is looking for wide EPS guidance range of $0.70-0.95 to be tightened as we progress further into FY09 with a bias to the lower end.

This is acting as a positive catalyst as the stock grings up off the lows when this news hit, rmembers the overall price target is still above the price here and the reason i like this is for news of the stimulus package


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