No Growth Meltdown at Uranium Miner Cameco

PR problems from the Japanese disaster, nuclear plant phase-out programs in several European countries, and failure of global economic accords to qualify nuclear power for greenhouse gas emission credits — notwithstanding these challenges, long-term fundamentals remain positive for Canadian uranium producer Cameco (CCJ-$30.00).

Investor fears that the more than 100 new nuclear-power stations (net) — planned or now being built worldwide (out to 2020) — would be dumped (killing future demand for uranium fuel) is highly unlikely. With emerging economies running energy deficits, nuclear remains part of any growth equation that looks to diversify away from carbon-based options.

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Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

InterMune's Esbriet: Hype or Miracle Drug?

InterMune’s (ITMN -$44.00) internal forecasts for its new pulmonary fibrosis drug appear even more bullish than Wall Street, with management pegging the market opportunity for Esbriet in the top 10 EU countries as high as $3 billion.

Both internal and Wall Street sales projections could prove too optimistic, however, considering the global idiopathic pulmonary fibrosis market was valued at $88 million in 2009 (nominal sales don’t recognize off-label RX use, but do underscore a market underserved due to a lack of approved products). Nonetheless, even with new growth drivers, such as Esbriet and other novel treatments in development, from LPA1 receptor antagonists to protein inhibitors, the combined U.S. and EU market for IPF is expected to climb no higher than about $462 million by 2017, according to industry analyst BioPortfolio.

As in Greek mythology, where Icarus ignored the warning of his father Daedalus, this unbridled optimism surrounding Esbriet runs significant risk of flying too close to the sun. Is hype outdistancing hope?

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Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

Is GE Tokyo's new Godzilla?

Fear-mongering is spreading like the bubonic plague through the financial markets — quicker than the tsunami that hit Japan last Friday. Breathe slowly: General Electric ($18.95) hasn’t been bitten by any radioactive fleas!

Most of the financial exposure at Fukushima rests with GE’s joint-venture partner, Hitachi (HIT). The Japanese electronics giant owns 80 percent of the joint venture in Japan, while GE has a majority stake only in the U.S. nuclear market (60%) and certain other overseas markets, according to regulatory filings.

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Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

Can Eni SpA Grow Production Without Libya?

Libya is Eni SpA’s (E-$49.22) largest source of oil and gas, accounting for approximately 244,000 barrels of oil equivalent a day. With Qaddafi loyalists battling anti-government forces town-to-town, most of Libya’s aggregate production of 1.6 million barrels a day has been shut-in, according to Bloomberg and other news sources. Estimates are that about 50 percent of Eni’s Libyan production has been curtailed, too.

From Ecuador and Ghana, to China and Indonesia — the Italian energy conglomerate has its fingerprints on a balanced mix of potentially lucrative discoveries across the globe. By leveraging organic growth in the Americas, Western Africa and Central Asia, Eni expects to deliver more than 2.5 percent compounded average growth in production through 2014 — under a Brent scenario at $70 per barrel.

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Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.