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To: Brasco One who wrote (208398)	10/21/2011 2:40:05 PM
From: Jane4IceCream	1 Recommendation Respond to of 208838

Shady Burt hasnt posted since 9/21 Hope he didnt OD on his herb! Jane

To: Brasco One who wrote (208398)	10/21/2011 3:56:12 PM
From: Oblivious	Respond to of 208838

Mexico Cemex Seen Posting 3Q Net Loss; Higher Sales Expected Last update: 10/21/2011 3:52:15 PM By Anthony Harrup Of DOW JONES NEWSWIRES MEXICO CITY (Dow Jones)--Mexican cement and building materials company Cemex SAB (CX, CEMEX.MX) is expected to report modest sales growth for the third quarter but a decline in operating cash flow and a wider net loss compared with a year earlier, as weakness in the U.S. market and the depreciation of the Mexican peso hurt its performance. Cemex likely had sales of $3.9 billion in the July-September quarter, up from $3.8 billion a year earlier, according to the median estimate of six equities analysts polled by Dow Jones Newswires. The analysts see earnings before interest, taxes, depreciation and amortization, or Ebitda, at $618 million, down from $649 million a year earlier, while effects of a weaker peso against the U.S. dollar are expected to contribute to a loss of $230 million, compared with a year-earlier loss of $86 million. A lack of recovery, particularly in the U.S. housing construction market, has put Cemex's shares under pressure as investors worry about its high debt levels. The company's locally traded shares recently fell to their lowest level in more than 12 years and its ADRs touched all-time lows before making a slight comeback. The Banorte bank, which recently upgraded Cemex shares to hold from sell, said the stock-price collapse incorporated "catastrophic scenarios," to which it assigns a low probability. Banco Santander said a 60% drop in the share price since June shows that expected weak third-quarter results are already priced in, although volatility could continue until the company's year-end financial situation becomes clearer. Cemex shares suffered a selloff even after Chief Executive Lorenzo Zambrano assured investors at an event last month in New York that Cemex will remain in compliance with the leverage covenants in a 2009 financing agreement with banks, under which the company extended maturities on $15 billion in debt. Cemex has paid down 51% of the $15 billion, including a $131 million prepayment this week, and will avoid incremental interest on the debt. The next maturities under the agreement are in December 2013. Cemex also expects to sell non-productive or underperforming assets for $1 billion by the end of 2012, including $180 million this year. The company plans to publish its third-quarter results on Oct. 26 before local markets open. Cemex's CPO shares were recently up 1.2% at 4.88 pesos ($0.36). -By Anthony Harrup, Dow Jones Newswires; (5255) 5980-5176, anthony.harrup@dowjones.com (END) Dow Jones Newswires October 21, 2011 15:52 ET (19:52 GMT)