Monday, June 14, 2010

Clean Harbors Cleaning Up in the Gulf? (CLH):

The stock closed today at $67.84 up another 8 cents. I would not chase.
Here's the chart since April 1 (BigCharts):

The story from BloggingStocks:
"The clean up from the BP oil spill will be involved, costly and very long; one company involved is Clean Harbors (CLH), which is the market share leader in hazardous waste services and a leader in overall environmental remediation," says Brendan Coffey, a specialist in "green" investing.

The editor of Cabot Green Investor explains, "Given the scope of the Deepwater Horizon well disaster and the established reputation of Clean Harbors, we suspect the company will benefit for months if not years to come.

"Clean Harbors is a well-run company that was founded by current CEO Alan Kim in 1980 as a four-man outfit dedicated to cleaning out oil tanks. Last month, the company sent a phalanx of employees to begin cleanup efforts in the Gulf.
"Among its responsibilities are recruiting and training local residents to assist in the cleanup, providing containment equipment and boats, equipment and services to remove the oil from the water, and removing and disposing of the waste in its own incinerators and landfills.

"In mid-May, Clean Harbors announced that the effort would boost current quarter revenues by 15% to 20% over previous estimates of $352 million. Those earnings will be announced in August.

"Even before the disaster, BP was cited as one of Clean Harbors' loyal customers and Clean Harbors had worked closely with local governments in recovery efforts after Hurricane Katrina.

"While the company operates nationwide, it has clusters of operations in New Orleans and east Texas that provide a wide base of nearby expertise to draw on.

"It also has clusters of facilities in the northern Atlantic coast from Maryland up through its home base in Massachusetts to Maine, the Chicago area and southern California, along with extensive operations throughout Canada....MORE