Wells Fargo & BRAKKE market news - January 2012
Economics Group - Weekly Economic & Financial Commentary
U.S. Review
Good From Far, but Far From Good
- A run of better-than-expected U.S. economic data in recent weeks raises hopes that the domestic economy might somehow defy gravity and expand quickly, even as the rest of the world seems to be coming to terms with an environment of slower growth. At the risk of ruining the party, in this week's U.S. Review, we point out what we consider to be a few chinks in the armor.
- The ISM Non-Manufacturing Index shows continued expansion, albeit at a slower pace.
- The trade deficit narrowed in October to its lowest level of the year, supporting fourth-quarter GDP growth.
Global Review
Moment of Truth for Europe
- The headlines were fast and furious this past week. Italy proposed austerity measures, while Greece passed its 2012 budget. Meanwhile, following a volatile week filled with rumors and half-truths, European leaders met in an attempt to solve the debt crisis. However, markets were disappointed when Angela Merkel said it would be a step-by-step process. It appears that it all comes down to countries agreeing on tighter fiscal unity, which would make ECB bond purchases more palatable to Germany.
- The ECB cut interest rates, while other central banks took action in response to Europe's ongoing woes.
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Brakke Newsletter
BRAKKE
CONSULTING, INC.
Animal Health News & Notes for February 17, 2012
Copyright ©
Brakke Consulting, Inc.
BRAKKE CONSULTING, INC.
INDUSTRY OVERVIEW AT WVC
Brakke Consulting will present the 2012 US Animal Health Industry Overview at the Western Veterinary Conference in Las Vegas, Nevada. The date is:
Tuesday, February 21st from 2:00 – 4:00 pm at the Four Seasons.
Online registration for the Industry Overview at the WVC closes today. To attend, please register on-site.
www.BrakkeConsulting.com
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COMPANY EARNINGS RELEASES
Nestle SA reported financial results for the year 2011. PetCare sales were CHF 9,764 million ($10,387 million), representing organic growth of 4%. (company website)
Henry Schein, Inc. reported financial results for the fourth quarter ended December 31, 2011. North American animal health (Butler Schein Animal Health) sales of $256 million increased 15%, including internal growth of 7% and growth of 8% due to an extra selling week in 2011 compared to 2010. (company website)
VCA Antech, Inc. reported financial results for twelve months ended December 31, 2011. Revenue increased 7.5% to a twelve-month record of $1.49 billion. Net income was $100 million, a decline of 13%. Animal hospital revenue increased 9% to $1.15 billion; laboratory revenue increased 2% to $317 million. (company press release)
Ridley Inc. reported its financial results for the second fiscal quarter ended December 31, 2011. Ridley's revenues grew by 11% to $177 million in the second quarter this year, primarily a result of an elevated level of raw material prices relative to the same period last year and a continuing shift in product mix towards higher value added products. Net profit after income taxes was $4.0 million compared to $4.9 million last year. (company website)
Please contact Dr. Lynn Fondon at (972) 243-4033 or to pre-order the E-MAIL report, or for more information visit our website at
www.BrakkeConsulting.com.