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Time to Buckle Up, and Buckle Down

Stocks in this article: ES ALEX MATX

Alexander and Baldwin (ALEX - Get Report), which represents the real estate business of the old Alexander and Baldwin, that separated into two companies (the other being shipping company Matson Navigation (MATX - Get Report)) in June also put up some solid numbers, after the market closed yesterday. Revenue rose 50% to $92.9 million for the quarter, and net income more than tripled to $13.4 million. Earnings of 31 cents per share beat the 14 cents a share consensus estimate.

ALEX's report came on the heels of a solid report from Matson Navigation on Wednesday. Matson beat the consensus earnings estimate of 40 cents per share by five cents, and shares were rewarded with a 7% advance. I was also pleased to see a $44 million reduction in debt, which now stands at about $329 million.

So, there was some good news, amongst all the angst, but it's time to buckle up, and buckle down. The elections, for the most part, took our eyes off of the ball in terms of what's on the near term horizon. Now it's crunch time, and time to stock up on the Pepto Bismol.

Have a great weekend.

At the time of publication the author was long ES, ALES, MATX.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

At the time of publication, Heller was long XXXX.

Jonathan Heller, CFA, is president of KEJ Financial Advisors, his fee-only financial planning company. Jon spent 17 years at Bloomberg Financial Markets in various roles, from 1989 until 2005. He ran Bloomberg's Equity Fundamental Research Department from 1994 until 1998, when he assumed responsibility for Bloomberg's Equity Data Research Department. In 2001, he joined Bloomberg's Publishing group as senior markets editor and writer for Bloomberg Personal Finance Magazine, and an associate editor and contributor for Bloomberg Markets Magazine. In 2005, he joined SEI Investments as director of investment communications within SEI's Investment Management Unit.

Jon is also the founder of the Cheap Stocks Web site, a site dedicated to deep-value investing. He has an undergraduate degree from Grove City College and an MBA from Rider University, where he has also served on the adjunct faculty; he is also a CFA charter holder.

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