One things says it all, "sales growth in our global composites business continued to be solid."Back in February I said that one ought to expect a storm or two this year and that the $240 million EBIT the company predicted at the time was too conservative. (Call Transcript) Owens Corning (OC) said it now estimates that 2008 adjusted EBIT will be at least $265 million, a 10-percent increase from its prior estimate of at least $240 million.
More good news was that Owens Corning repurchased approximately 1 million shares at an average price of $23.55 during the second quarter of 2008. This repre
Looks like the St. Gobain deal will be paying off in spades for Owens Corning (OC). Owens acquired the Gous-Khrustalny, Russia, production facility as part of its 2007 acquisition of Saint-Gobain's composites businesses. OC announced that it will more than double the production capacity of its glass fiber composites facility in Gous-Khrustalny, Russia, to meet growing global demand.
This investment will serve existing customer growth in Russia and throughout Europe and the Middle East," said Mike Thaman, chairman and chief executive officer. "The expansion leverages our 2007 acquisition o
Recap of Jim Cramer’s comments on Stop Trading! Tuesday June 10.
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Owens Corning (OC): While many might think of insulation an blades for windmills as boring, Cramer says OC’s technology could cut energy costs by 40%. Owens-Corning has not gotten the press it deserves because it is considered to be a housing and construction stock, but Cramer notes that on more careful investigation, it is actually a great alternative energy play.
Discovery Holding Company (DISCA): While Cramer is not a fan of radio, he is bullish on cable and in particular, on DISCA because “it has a lot of thin
TheStreet.com's Jim Cramer says as crude goes higher, it makes more and more sense to go for other energy options.
Every day that oil goes up, there is a new set of technologies that had formerly been priced out of the market that comes back to life. Let's take wind. Wind, in itself, just seems so stupid. It needs, well, wind. Much of our country doesn't have enough wind to make this economic. There are only certain regions that can really benefit.
I have been a holder of Owens Corning (NYSE: OC) for a little over a year now. I was first attracted to the company after Warren Buffett began to build a position in USG Corp. (NYSE: USG). USG and Owens Corning are very similar, as both are tied a great deal to the U.S. economy and the housing market in particular. Yet in comparing the two it is clear that Owens Corning is the better investment. The most recent quarterly report by Owens Corning reinforces this view of the company. I won’t go into the quarterly numbers in detail as a great write up, written by Todd Sullivan, can be foun
Owens Corning (OC) reported results yesterday and they were better than
expected, primarily because of the company's intentional move to a
more international model.<!--more--> (See Transcript) Owens
posted a net loss of $15 million, or 12 cents a share, compared with a
profit of $1 million, or 1 cent a share, a year earlier. Sales rose 20
percent to $1.35 billion, ahead of estimates for $1.22 billion.
Adjusted earnings from continuing operations were 7 cents per share,
which was 4 cents ahead of forecasts.
In the first quarter of2008, Composite Solutions, Insulating Systems, Roofing and Asph
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About Owens Corning
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In the first quarter of2008, Composite Solutions, Insulating Systems, Roofing and Asph
