CHICAGO, Aug. 23, 2011 /PRNewswire/ -- Zacks.com announces
the list of stocks featured in the Analyst Blog. Every day the
Zacks Equity Research analysts discuss the latest news and events
impacting stocks and the financial markets. Stocks recently
featured in the blog include: Caterpillar Inc. (NYSE: CAT),
Joy Global Inc. (Nasdaq: JOYG) Darden Restaurants
Inc. (NYSE: DRI) Brinker International Inc.
(NYSE: EAT) and P.F. Chang's
China Bistro Inc. (Nasdaq: PFCB).
(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)
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Here are highlights from Monday's Analyst Blog:
Caterpillar Expands, Creates
Jobs
Heavy equipment manufacturer Caterpillar Inc. (NYSE: CAT)
decided to expand its existing work tools business in Wamego, Kansas. The 3,716 square meter (40,000
square feet) extension will take the total manufacturing space of
the plant to a quarter of a million square feet and create 120 new
jobs at the plant.
Caterpillar manufactures buckets, blades and other work tools at
the Wamego plant that are used on
a wide range of Caterpillar machinery. The company's decision to
expand the plant emanated from increased demand for its products in
both the domestic U.S. and international markets.
Keeping in mind the company's long-term vision, for 2015 and
beyond, of spurring production to meet increasing demand for its
products, Caterpillar has systematically planned to construct new
facilities besides the upgrade and expansion of existing plants
spanning North America,
South America, Europe and Asia. Such an expansion curve also
reinvigorates employment, creating more and more jobs.
Beginning August Caterpillar decided to expand its plant in
West Fargo, North Dakota. The
company will add another 20,903 square meters (225,000 square feet)
to the plant by investing $50 million
and additionally creating 250 jobs.
The company's international expansion of operations includes
among other endeavors the beginning of a new facility in Xuzhou, in
the Jiangsu Province of
China. This strategic move would
help meet the increasing demand for its products in the
Asia-Pacific region.
Caterpillar's growth goals are supported by a capital
expenditure budget of $3 billion
earmarked for 2011 alone. The company hopes to equally invest this
sum of money on domestic as well as overseas operations.
Caterpillar currently retains a Zacks #3 Rank, which translates
into a short-term Hold rating. Its peer Joy Global Inc.
(Nasdaq: JOYG) presently has a Zacks # 1 Rank, equal to a
short-term Strong Buy rating.
Peoria, Illinois-based
Caterpillar Inc. is a manufacturer of construction and mining
equipment, diesel and natural gas engines, and industrial gas
turbines. The company is also a leading U.S. exporter with more
than half of its sales being generated outside the United States.
Darden Spreads Wings in Mexico
Florida-based Darden
Restaurants Inc. (NYSE: DRI) recently announced that it has
inked a development agreement with a Mexican casual dining company,
CMR, to enter the Mexican market. CMR will develop and operate all
three Darden brands –– Red Lobster, Olive Garden and LongHorn
Steakhouse –– in Mexico. The terms
of the deal were not disclosed.
Per the deal, CMR will set up 37 restaurants in Mexico over the next ten years. This deal
affirms management's intent to make Mexico one of the prime markets for Darden's
international expansion.
CMR is the one of the largest casual dining companies in
Mexico with more than 100
restaurants in 26 cities throughout the region. The company enjoys
local market knowledge and has a proven track record of owning and
franchising imported as well as in-house brands including Fonda
Mexicana, Destileria, Elago and Chili's of Brinker International
Inc. (NYSE: EAT). Another U.S. restaurant chain,
P.F. Chang's China Bistro
Inc. (Nasdaq: PFCB) has a strong presence in Mexico.
Darden has successfully owned and operated restaurants in the
domestic market while many of its international locations are
operated by franchise partners. We believe that the company is
trying to spread its presence beyond the U.S. more aggressively
following cut-throat competition in the rather saturated domestic
casual dining market.
Apart from this development, the company has a five-year
developmental agreement with Americana Group of Kuwait to cater to the Middle Eastern market.
Last month, Darden saw the opening of Red Lobster in Dubai, its first restaurant in the
Middle East. The company also has
five franchised LongHorn Steakhouse restaurants in Puerto Rico.
Darden currently retains a Zacks #3 Rank, which translates into
a short-term 'Hold' rating. We also maintain our long-term
"Neutral" recommendation on the stock.
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