Recent Earnings Reports: EMR, PWE and EWBC

This post is intended to force me to catch up on some recent earnings reports for stocks that I own. 

Emerson Electric (EMR) did declare its regular dividend, now considered a plus.  The company announced earnings for the 1st quarter of 49 cents per share down from 69 cents in the year ago quarter, on a 16% fall in revenues.  Based on the market's reaction, this was expected and is now viewed as old news in the current ebullient market mood.  Analyst were, however, expecting earnings of 53 cents.  Emerson did maintain its guidance for 2009 at $2.4 to $2.6.  Yahoo! Finance

I do not intend to add to my position at current levels until I have a better feel about the timing of the economic recovery.  I do have a high opinion of this company and even believe that it should replace GM in the DJIA.  But, it is an industrial company sensitive to the worldwide economic slump.  Emerson is a long term hold for me.

East West Bancorp (EWBC), a recent lottery ticket purchase that has doubled as of last Friday's closeBuy of 50 EWBC as Lottery Ticket/RF/Goldman Sachs Synthetic Floaters and Floating Rate Non-Cumulative Preferred/, reported a first quarter loss of 22.5 million due largely to a 78 million dollar provision for loan losses.  Nonperforming assets are 2.42% of total assets as of 3/31/2009.   Tier 1 capital ratio is 13.67% and Tangible Common Equity Ratio is 5.76%, as of 3/31.   Yahoo! Finance  I may do a coin flip on this one.   

PennWest (PWE) announced that production for the 1st quarter was approximately 180,000 barrels of oil equivalent per day. - Yahoo! Finance  Funds flow was given at 348 million U.S. with a net loss from operations of 25 cents per share.   Debt was reduced by 259 million.  This is barely okay in my opinion. Like a lot of producers, this Canadian Energy Trust suffered due to the fall in oil and natural gas prices.  I think that I am a little under water on this one.  Whatever, I do not intend to sell anyway.