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AES and CHKP reports
See you all Sunday. Let's buy something (it'll be first time in
months that we can!) -G
Shares Held: 150
Date Purchased: 23-Dec-98 (average unweighted-by-date)
HPD paid: $20.04 (average)
Currently Trading: $ 56.38 @ 10:56am est, 16-Aug-00
Percentage Gain: 181.31%
Annualized Return: 87.22% (using average purchase date)
Strong Buy 7
In the news:
Electricidad de Caracas (EDC), a unit of AES Corp, closed a $299.8
million share repurchase for 14.5 percent of its stock.
Rockin’ 2nd quarter numbers released: AES announced net income was
$111 million for the quarter ended June 30, 2000, a 56% increase over
net income of $71 million for the second quarter of 1999. Diluted
earnings per share were $0.25 for the quarter, compared to $0.18 for
the same quarter in 1999. Revenues for the quarter were $1.5 billion,
an increase of 140% from $640 million in the second quarter of 1999.
For the six months ended June 30, 2000, net income before
extraordinary item was $292 million or $0.66 per diluted share as
compared to $58 million or $0.16 per diluted share for the same
period in 1999. Net income was $285 million for the six months ended
June 30, 2000. Revenues increased 136% for the first half of 2000 to
New Energy scores new contracts: The Massachusetts High Technology
Council; The New Jersey American Water Co. (representing 20 MW); and
Lincoln Technical Institute (LTI)/The Cittone Institute (for three
New Jersey schools) sign on.
AES will acquire the 49% interest held by TransCanada PipeLines
Limited in the Songo Songo Gas-to-Electricity Project in Tanzania, as
well as assume overall project management responsibility. The project
consists of the refurbishment and operation of five natural gas wells
in coastal Tanzania, the construction and operation of a 65 mmscf/day
gas processing plant and related facilities, the construction of a
230 km marine and land pipeline from the gas plant to Dar es Salaam
and the conversion and upgrading of an existing 112 MW power station
in Dar es Salaam to burn natural gas, with an optional additional
unit to be constructed at the plant. Total project cost will be
approximately $325 million. Financial close is anticipated by the end
of 2000 or early in 2001.
AES is among the short list of bidders for plants in South
Austrailia, and Venezuela
AES issued approximately $1 billion of non-recourse project bonds to
refinance outstanding debt at the Drax Power Station in North
The Los Angeles City Council approved a $1.7 billion 10-year plan to
upgrade power plants, including the the sale of LADWP's 20 percent
interest in the Mohave coal-fired power plant in Nevada to AES Corp.
for $190 million cash.
Shares Held: 13
Date Purchased: 25-Apr-00
HPD paid: $164.93
Currently Trading: $ 128.50 @ 10:57am est, 16-Aug-00
Percentage Gain: 55.82%
Annualized Return: 319.01% –not too relevant because of the short
Strong Buy 13
In the news:
An independent study by Dataquest, a subsidiary of Gartner, confirms
that Check Point Software, is the unequivocal VPN market leader with
a market share of 52 percent.
The 2:1 split for CHKP shares was paid.
Check Point announced the availability of Check Point 2000 Service
Pack 2 (SP-2). Enhancements include key capabilities that extend
VPN/firewall security and add important new features. Highlights of
the new version include: VPN Remote Access; improved scalability for
VPNs and high availability (HA) environments now on the Linux
platform; advanced URL filtering and logging; support and performance
for the latest versions of Oracle 8i eBusiness applications, and the
latest features of H.323 Voice over IP (VoIP) protocol; and enhanced
IFInet, a leading Internet Service Provider in Italy, has extended
its eBusiness security services to include Check Point's
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