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Is Unemployment Understated?

Tags: mcd, yum
3 Jul 5:45am
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While the numbers that come out of the BLS on employment and unemployment are the gold standard -- they're the ones that everyone uses -- there are some serious problems with the numbers. The most significant of these, to my mind, is what is known as the Birth/Death adjustment.This is an attempt by the BLS to correct for new companies being formed that provide jobs but which are not picked up in the official statistics, and also the firms that go out of business that are hidden from t...
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Initial Unemployment Claims Fall

Tags: jwn, sks, kr, wag
3 Jul 5:40am
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Almost lost in the news of the employment report for June was the initial claims data. There, the news was slightly more positive -- new claims for unemployment insurance dropped to 614,000 from last week’s revised reading of 630,000 (was 627,000). The four-week average of new claims dipped to 615,000 from last week’s 618,000. While the four-week average is well off its high set back in April, progress has been very slow. Historically, the four-week average of new cla...
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IRF & Vishay Reach an Agreement

Tags: irf, vsh
3 Jul 5:30am
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International Rectifier (IRF) and Vishay Intertechnology (VSH) have finally settled their long-standing dispute. International Rectifier refunded $30 million in lieu of money paid by Vishay for the acquisition of its Power Control Systems (PCS) business.It was also made to license some additional technology to Vishay that was developed subsequent to the closure of the deal. IRF was able to eke out one small advantage. The 'not-to-compete' clause in the agreement was amended in its fav...
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Hitachi Expanding Hybrid Cap

Tags: hit, gmgmq, tm, etn
3 Jul 5:12am
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HIT's Lithium-Ion Capacity ExpandsHitachi Ltd. (HIT), a Tokyo-based global conglomerate, is expected to supply advanced lithium-ion batteries to General Motors (GMGMQ) in 2010 for use in its gasoline hybrid-electric vehicles (HEV). The deal with GM will increase Hitachi's production capacity for lithium-ion and expand its business in the automotive-related field. It will also meet rising demand for gas-electric cars.Hitachi expects the global market for HEVs to expand from 690,000 uni...
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Flagstone Outbids for IPC

Tags: fsr, ipcr, vr, mxgl
3 Jul 5:00am
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On July 1, Wednesday, Flagstone Reinsurance Holdings Limited (FSR) offered to buy IPC Holdings Ltd. (IPCR), which Flagstone said is superior to the Validus (VR) offer.Flagstone has offered 2.638 of its common shares for each IPC common share plus $5.50 per share in cash, valuing IPCR at $33.62 per share. This results in a premium of 21.1% over IPCR's Wednesday closing price of $27.77. The Validus bid was 1.1234 of its shares plus $3.75 in cash, valuing IPCR at $28.86 a share. Followin...
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Zacks Investment Research is one of the most highly regarded firms in the investment industry. Our firm has long believed that that quantitative models (like the Zacks Rank) can predict stock prices more accurately than individual analysts. However we also recognize that models are most effective when they are employed by analysts who have deep fundamental knowledge of the company and its industry. Consequently Zacks Equity Research combines Zacks quantitative models with the insight provided by an experienced team of 50 analysts to create superior long term stock recommendations. Discover all their timely insight and recommendations daily on Zacks.com.

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