Titanium Metals Corporation (NYSE:TIE) -- Up 16% on "Spanking Good Earnings"
Titanium Metals Corporation (NYSE:TIE), the Dallas-based titanium producer with operations in Europe and the US, just released substantially higher than expected earnings. Chris Mayer, editor of Agora Financial’s Capital & Crisis newsletter, describes the gap:
“Titanium Metals’ (NYSE:TIE) shares are up 16% on spanking good earnings.
“Earnings were much better than Wall Street expected. The Street had TIE earning 3 cents per share this quarter and 14 cents per share for the whole year. I knew they would be wrong. TIE earned 9 cents this quarter.
“TIE is one of several stocks for which sentiment is lukewarm at best. But that is changing. Following a strong earnings report today, Longbow Research initiated TIE with a “neutral” rating. Heh.
“Bobby O’Brien, TIE’s CEO, said in the under-stated earnings release: ‘Our operating results for the first quarter of 2010 reflect stronger demand than we have seen in the last several quarters as customer inventory levels within the commercial aerospace sector are beginning to stabilize and the global economy continues to show early signs of recovery.'”
According to Mayer, Titanium Metals expects 2010 volumes to top 2009, a notable turning point in the titanium business. Mayer’s been able to see the earnings potential of TIE despite the fog of a market that vastly underrated its performance.
To get more details from Chris Mayer on Titanium Metals Corporation, as well as other specific investment recommendations, you can visit the Agora Financial research page to sign up for Capital & Crisis.
You can also join us in Vancouver to see Chris Mayer speak live at the Agora Financial Investment Symposium. You can find more information about registering for the July event here.
Best,
Rocky Vega,
The Daily Reckoning
[Nothing in this post should be considered personalized investment advice. Agora Financial employees do not receive any type of compensation from companies covered. Investment decisions should be made in consultation with a financial advisor and only after reviewing relevant financial statements.]
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