| Fourth Quarter Revenues Roll at Cendant
February 06, 2004
KCS up 318%
January 16, 2004
The
India Fund Hits US$26.89 – up 52%
January
09, 2004
PD Still Running Wild
December 19, 2003
Hold Them All
December 12, 2003
Still Holding JBLU
December 05, 2003
Sell the Losers and Let the Winners Run
November 18, 2003
Average 72.6% Gain Since January 2003
November 14, 2003
ICGE Remains a Hold
November 07, 2003
Profiting in the Face of Downgrades
October 31, 2003
Sit Tight with JBLU
October
24, 2003
Fixation on Green
October
17, 2003
NETE up 274%! LEXR up 215%!
October
08, 2003
LEXR up 202%
October
03, 2003
The EK Plunge
September
26, 2003
Netegrity
up 260%
September
12, 2003
Still
Holding LEXR with 162% Gains
September
05, 2003
Free
Second-Half Ride on NETE
August
29, 2003
136%
Gains on LEXR - Hold winner
August
22, 2003
Lexar
hits US$14.29 - that’s a 114% winner
August
20, 2003
LEXR
up 93%
August
15, 2003
No
LEXR Worries
August
06, 2003
Altria
Gains as Market Slumps
August
01, 2003
LEXR
up 93% -
July
18, 2003
LEXR
up 93% - earnings tonight, hold
July
17, 2003
Movin’ on
up with LEXR
July
11, 2003
LEXR
up 50%
June
27, 2003
An
Upgrade, Another Contract, and an Up Trend
to Boot
June
20, 2003
The
Dogs of Profits
June
13, 2003
10.8%
five-month average gain – Good Dogs
June
06, 2003
Tax
Cut Approved
May
23, 2003
Say
Goodbye to Dividend Taxes…
May
16, 2003
Bulls
on Parade
May
09, 2003
Check
out ABMD
May
02, 2003
Hold
ABMD
April
25, 2003
Mixed
Market Madness
April
11, 2003
Hold
the Dogs
April
04, 2003
ABMD
on Hold
March
28, 2003
The
Dogs of War
March
21, 2003
BFLY
Looking Good Again
March
14, 2003
Hold
Back the Dogs
March
07, 2003
Hold
the Dogs
February
21, 2003
Back
from the Dead
February
14, 2003
A
Dividend for HON
February
07, 2003
Maybe
that US$1.5 billion is under the couch?
January
31, 2003
Bad
Dog
January
24, 2003
Dogs
Earnings Alert
January
17, 2003
Day
of the Dogs
January
10, 2003
Dogs
of the Dow Round 2
January
03, 2003
What
a Year!
December
27, 2002
AKAM
up 223%
November
22, 2002
DG
Still a Bargain
November
15, 2002
Time
to Take More Profits
November
08, 2002
82%
in Just 10 Days
November
01, 2002
One
Week ñ 25.6% Average Gains
October
25, 2002
TLK up 13%
October
18, 2002
DG
on Hold
October
11, 2002
Insiders
Flocking
October
04, 2002
MWY
up 10%…
September
20, 2002
Insiders
are Flocking…
September
20, 2002
Hold
GNK
September
13, 2002
DG
SSS up 6.3%
September
6, 2002
In
this DG Earnings
August
30, 2002
Hold HPON
August
23, 2002
Dollar
Store Run
August
16, 2002
DG
SSS up 6.6%
August 9, 2002
Sell
EWJ
August 2, 2002
DG
- the place to be
July 26, 2002
Good
News Remains
July 19, 2002
ITRU
Up 61%
July 12, 2002
More
Gains
July
5, 2002
ITRU
Up 53% in 11 Days
June
28, 2002
ITRU Up 36% in Nine Days
June
26, 2002
IBN
Remains a Hold
June
14, 2002
Gold in the Markets
June 7, 2002
WINKóSell
it for 52% Profits
May 31, 2002
South
African Breweries Update
May 24, 2002
Holds
and Sells
May 17, 2002
IC
now IBN
May 10, 2002
59%
Gains, 10 Days
May 3, 2002
WINK
up 8%
April 26, 2002
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Fourth Quarter Revenues Roll at Cendant
By Martin Denholm
It took a while to get going, but Cendant Corp (CD:NYSE) now seems to be gathering pace since we recommended it back in the July 2003 issue of Taipan . And yesterday's impressive fourth-quarter earnings report helps considerably.
To bring you up to speed, Cendant is the giant parent company of several prominent players in the travel, hotel, and real-estate sectors. It owns Avis and Budget car rental companies, hotel chains Ramada, Howard Johnson and Days Inn (among others), travel website CheapTickets.com, and the Century 21 and Coldwell Banker real-estate businesses. And with tax filing time looming, Cendant should benefit from its ownership of major tax preparer Jackson Hewitt.
With so many major companies under Cendant's umbrella, it's almost inconceivable that one part of the company won't be making money at any given point in time. And fourth-quarter revenues rose to US$288 million, or 28 cents per share, up from US$247 million (24 cents per share) for Q4 2002.
Vehicle services revenues rose 20%, thanks largely to the inclusion of Budget's car and truck rental activity, and it's a division the company says will form a sizeable chunk of growth for the next two years. Meanwhile, Cendant's real-estate division rose 6% on continuing strength in home sales. The robust revenues sent Q4 net profit up 17%.
Looking forward, Cendant expects EPS to come in between US$1.55 and US$1.65 in 2004 as revenues push comfortably past US$19 billion. The company's core aim is to grow both its travel and real-estate divisions. You can bet that when travel and transport activity returns with a vengeance, Cendant will be well positioned to cash in.
Starting this quarter, Cendant will also pay its first ever cash dividend. And with the company's savvy strategy of paying down debt with cash, it says it should be in a position to offer a higher dividend in years to come.
Cendant shares finished Thursday down US$1 at US$21.74, but that is still a 23% gain from our original entry price. Keep holding as another strong summer season approaches.
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