Gulab Ram Parab
Pawn shop operators are a less obvious way to play gold. For these companies, a significant share of revenues comes from the merchandise and scrap sales of gold and other jewelry, so they tend to do better when the price of gold rises. There are three publicly-traded players in this industry: First Cash, EZCORP, and Cash America.
Segment After-Tax Operating Income (ATOI) Alumina ($9 million) Primary Metals ($14 million) Global Rolled Products $98 million Engineered Products & Solutions $160 million
Lower LME-based pricing hurt both upstream segments. Year-on-year, Alumina ATOI dropped $163 million, while Primary Metals ATOI fell $124 more »
According to classic Dow Theory, any rally among industrials must be confirmed by a rally in transports. Over the decades, the U.S. economy has shifted away from manufacturing toward services, but purists maintain that the Dow Jones Transports Index, which is flat on the year, is currently signaling a warning to investors.
In May, General Electric (NYSE: GE) unit GE Mining announced its first two acquisitions, Fairchild International and Industrea Ltd., as part of a development program to expand to support roughly 35% of the underground mining value chain.
Virginia-based Fairchild primarily makes scoops, haulers, continuous miners, and maintenance vehicles; whereas Australian equipment maker Industrea makes various explosion-proof vehicles and towables such as carriers, dozers, and shearers.
Newly appointed GE Mining CEO more »