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This report, from the Institute for Supply Management, is among the most-watched economic surveys by stock and bond traders because a) it is one of the first to come out each month, b) it is a great gauge of the U.S. economic health, c) it has been a consistent measure for decades, and d) is from the private sector, so the government can't manipulate the numbers.
The ISM Report on Business grew from a small-scale survey in 1931 to a snapshot that encompasses more than 300 companies in a wide range of industries. The ISM polls business managers, asking them to evaluate changes in factors like production, new orders, inventories and prices and contrasts them with their answers from the previous month. Then, the answers are crunched and spit out as an index. If the number comes in north of 50, it suggests the economy is expanding (a good sign). Under that level, and it's shrinking (not so good).
Traders love this report because it usually sets the tone for all the other data that is released each month. (Only the monthly federal Employment Situation report tends to have as much impact on the markets.) Sometimes, its components are more important than the whole. If stock and bond traders are worried about inflation, they'll look at what the survey said about the prices companies are paying for goods and the wages they're paying their workers to see signs that prices might be rising.
The ISM figures originally tracked just manufacturing data, but the group started polling service industries in the 1990s. That report, though, doesn't have the same market punch as the manufacturing numbers, but could as the service economy continues to grow in the U.S.
We end on a historical note: For years, the ISM numbers were actually known as "napalm," because the ISM used to be the National Association of Purchasing Managers. But many in the market (and in the organization itself) weren't keen on being associated with a Vietnam-era weapon.
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Friday, May 09, 2008
Dutton Associates Announces Investment Opinion: Linkwell Strong Speculative Buy In Initiating Coverage By Dutton Associates
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ROSEVILLE, Calif., May 09, 2008 (BUSINESS WIRE) ----Dutton Associates initiates coverage of Linkwell Corporation (OTCBB:LWLL) with a Strong Speculative Buy rating and a price target of $.38. The 13-page report by Dutton senior analyst Stanley Ng is available at www.jmdutton.com as well as from First Call, Bloomberg Professional, Zacks, Reuters, Knobias, JCF Group and other leading financial portals.
Linkwell is principally engaged in the development, manufacture, sale and distribution of disinfectant healthcare products, primarily to the medical industry in China. The Company has a nationwide marketing and sales presence throughout all 22 provinces, as well as four autonomous regions and five municipalities in China. This provides Linkwell a major competitive edge over the much larger foreign competitors like 3M and Johnson & Johnson, due to their limited product line and inability to attain critical mass in the China disinfectant market. Cooperation agreements with Ecolab signed in mid-February indicate that even the global leader in the healthcare and disinfectant industry wishes to leverage on Linkwell's established marketing channels to grow its business in the huge China disinfectant market. In our view, Linkwell is an attractive vehicle to participate in China's large and growing disinfectant market, which is driven by increasing health consciousness in China, ongoing government reforms in hospital sanitation, medical standards and disinfectant regulations and the government's educational program to increase awareness about public health and hygienic standards. One of Linkwell's major products, An'erdian Skin Disinfectant, has been chosen for use in all hospitals supporting the 2008 Beijing Olympic Games. Also, Linkwell has been selected to train and license all disinfectant and pest control professionals in China for the Beijing Olympics.
About Dutton Associates
Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.
The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. The Firm does not accept any equity compensation. We received $20,000 from the Company for 2 Research Reports commencing on 05/09/2008. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
SOURCE: Linkwell Corporation
Dutton Associates John M. Dutton, 916/960-0623
Copyright Business Wire 2008
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