Archive for August, 2009
(CMS) Consumers Upgraded Gas Facilities
Consumers Energy, the principal subsidiary of CMS Energy (CMS), upgraded its natural gas facilities near Dewitt, Michigan. It has spent around $15 million to install a new 2.1 mile 20-inch natural gas line. The company has also set up a new system station near Dewitt and renovated...
21Aug2009 | vitalstocks | 0 comments | Continued(HPOL) Harris Interactive Faces Tough Times
Harris Interactive (HPOL), a leading global custom market research firm, yesterday reported fourth-quarter revenue of $43.5 million, down 31.5% from a year ago primarily due to the weak economy. Management said that the global recession had significantly hurt the market research...
21Aug2009 | vitalstocks | 0 comments | Continued(TDS) Fitch Revises Telephone and Data Systems’ Outlook
Fitch Ratings has revised the rating outlook for Telephone and Data Systems (TDS) and its wireless subsidiary US Cellular (USM) to Negative from Stable. The international rating agency has affirmed its BBB+ rating for both the entities with respect to issuer default, senior secured...
21Aug2009 | vitalstocks | 0 comments | Continued(ITT) ITT Corp. Wins Enhanced Night Vision Goggle contract
ITT Corporation (ITT) has been awarded $43 million follow-on orders by the U.S. Army’s Research, Development and Engineering Command Acquisition Center for the Enhanced Night Vision Goggle and associated spare parts. Enhanced Night Vision Goggle optically combines an image...
21Aug2009 | vitalstocks | 0 comments | Continued(MAA) The Medicines Company Withdraws MAA
Yesterday, The Medicines Company (MDCO) announced that it has withdrawn its European marketing authorization application (MAA) for the 200mg 3-7 day daily dose therapy of oritavancin. The company is developing oritavancin, a novel, semi-synthetic lipoglycopeptide antibiotic candidate...
21Aug2009 | vitalstocks | 0 comments | Continued(AIG) Federal Reserve Chief Bernanke Speaks at Jackson Hole
In a long speech to the annual Kansas City Fed gathering at Jackson Hole, Wyoming, Fed Chief Ben Bernanke gave a history lesson about the recent financial crisis. It is worth reading in its entirety since it reminds us of just how close we came to absolute catastrophe. He recounts...
21Aug2009 | vitalstocks | 0 comments | Continued(EMS) Masimo Corporation signed agreement with German company
Masimo Corporation (MASI) announced that it has signed a new worldwide technology licensing agreement with GS Elektromedizinische Gerate G. Stemple GmbH that will enable the latter to integrate Masimo’s Rainbow SET Pulse CO-Oximetry into its corpuls patient monitoring modules. GS...
21Aug2009 | vitalstocks | 0 comments | Continued(JCI) Johnson Does Debt-Equity Swap
Auto-parts maker Johnson Controls Inc. (JCI) is exchanging its 6.5% convertible senior notes due 2012 and its equity units in the form of corporate units to reduce the amount of its outstanding debt and related ongoing interest expense. As of Jun 30, 2009, Johnson Control had...
21Aug2009 | vitalstocks | 0 comments | Continued(MS) Morgan Stanley in Hiring Mood
Morgan Stanley (MS) plans to hire as many as 400 traders and salespeople. The hiring spree aims at ramping up profit in the company’s emerging markets, foreign exchange, equity derivatives and prime brokerage businesses and thereby taking the company out of three straight...
21Aug2009 | vitalstocks | 0 comments | Continued(MGA) Opel to Choose Suitor
General Motors will choose a preferred bidder for a controlling stake in its European Opel/Vauxhall business today. The deal has become a race between two suitors, Canada-based auto parts supplier Magna International (MGA) and Brussels-based industrial investment group RHJ International. GM...
21Aug2009 | vitalstocks | 0 comments | Continued(UTX) Hamilton Sundstrand’s Big Order for Russian MC-21 commercial aircraft
Aviation electronics manufacturer Hamilton Sundstrand Corp., a division of United Technologies Corporation (UTX), announced receipt of a contract from Irkut Corp. to supply systems for the Russian company’s MC-21 commercial aircraft. The company will develop the plane’s...
21Aug2009 | vitalstocks | 0 comments | Continued(NVAX) Positive Results for NVAX Drug – Analyst Blog
Earlier this week, Novavax, Inc. (NVAX) disclosed that its vaccine, which has been developed using its recombinant virus-like particles technology, protected ferrets against the 2009 novel H1N1 virus in pre-clinical studies. (Ferrets are the closest animal to humans when it comes...
21Aug2009 | vitalstocks | 0 comments | Continued(BNI) Burlington Northern Extends Service
Year to date, The Burlington Northern and Santa Fe Railway Company, a subsidiary of Burlington Northern Santa Fe Corporation (BNI), has created 23 new intermodal services and established improved performance transit times on 45 different lanes. Burlington Northern is expanding...
21Aug2009 | vitalstocks | 0 comments | Continued(STP) Suntech Q2 Profit Falls
Suntech Power Holdings Co. Ltd. (STP) failed to live up to market expectations of a revival in its fiscal second quarter. Although EPADS of 6 cents during the quarter surpassed the Zacks Consensus EPADS estimate of a penny, this was a far cry from the year-ago EPADS of 31 cents....
21Aug2009 | vitalstocks | 0 comments | Continued(SJM) JM Smucker 92 cents earnings beats consensus of 81 cents – Reaffirms Guidance
J.M. Smucker Co. (SJM) recently reported a 12% rise in first-quarter earnings to 92 cents beating the Zacks Consensus Estimate of 81 cents. Quarterly net sales grew 58.4% year over year, primarily due to the addition of Folgers coffee business. Excluding the Folgers business,...
21Aug2009 | vitalstocks | 0 comments | Continued(KO) Coca-Cola on Investment Spree – more than $5 billion in Mexico
Coca-Cola Co. (KO) and its bottlers are planning to invest more than $5 billion in Mexico over the next five years. The investment is primarily targeted at developing infrastructure, technology, social and environmental programs, marketing, training and products with special...
21Aug2009 | vitalstocks | 0 comments | Continued(ORCL) Encouraging IT numbers for software developing companies
A recent survey indicates that corporates may increase their software purchase, although the recovery is not expected to be very fast. The survey particularly showed improvement in software segments like, Virtualization, Data Storage and Business Intelligence. Out of the total...
21Aug2009 | vitalstocks | 0 comments | Continued(ALGN) Align Technology Faces Class Action Lawsuit
Align Technology, Inc. (ALGN) faces another lawsuit after settling a long-pending litigation with Ormco Corporation, a subsidiary of Danaher Corporation (DHR). The new litigation is concerned with the company’s operations way back in the third quarter of 2007. The class...
21Aug2009 | vitalstocks | 0 comments | Continued(TSL) Sun Shines on Trina Solar Limited
Trina Solar Ltd. (TSL) flew past both the Zacks Consensus EPADS of 31 cents and year-ago EPADS of 68 cents to reach 71 cents in the second quarter of fiscal 2009. The growth in EPADS was driven by lower polysilicon prices, which is its key raw material. The company was able...
21Aug2009 | vitalstocks | 0 comments | Continued(NCI) S&P Downgrades NCI Building Systems’ Rating
Standard & Poor’s Ratings Services (S&P) downgraded its rating on NCI Building Systems Inc. (NCI) to non-investment grade of “CC” from “CCC+.” Last week, NCI announced that it has entered into a definitive agreement with Clayton, Dubilier...
21Aug2009 | vitalstocks | 0 comments | Continued(TM) Toyota Motor Corp’s Sales Rebound
According to media reports, Toyota Motor Corp. (TM) sold 21,300 vehicles as of Aug 18, an increase of 8% from the year-ago period. Benefiting from the rising sales of its Prius hybrid, revenues for the entire month is likely to exceed from the year ago level. Toyota had reported...
21Aug2009 | vitalstocks | 0 comments | Continued($AIG) AIG jumped 21.25% – Market News for August 21, 2009
US stock advanced for the third consecutive session on Thursday, helped by a rebound in overseas markets even as continuing weakness in the job market kept investors on a wait-and-watch mode. Financials showed strength after American International Group said it expects to repay...
21Aug2009 | vitalstocks | 0 comments | Continued(GPS) Gap Reports Encouraging Quarter in Tough Retail Environment
Gap Inc. (GPS) has reported relatively strong second-quarter results despite challenging market conditions. The company reported net income of $228 million or 33 cents per share during the quarter, compared to $229 million or 32 cents per share in the year-earlier quarter. The...
21Aug2009 | vitalstocks | 0 comments | Continued(FPL) Florida Power & Light expects to pass lower costs on to customers
Florida Power & Light, a FPL Group (FPL) company, recently submitted its mid-year fuel report to the Florida Public Service Commission (FPSC), which contains the detail of the fuel expenses incurred during the first half of 2009. It has also presented the fuel cost estimates...
21Aug2009 | vitalstocks | 0 comments | Continued(JMBA) Jamba transitioning to a more franchise-centric model to get the right blend
Amid a turbulent economic environment which has been negatively impacting the restaurant industry, Jamba Inc. (JMBA) reported improved second quarter 2009 financial results on account of cost-cutting initiatives. Consolidated EBITDA, which came in at $10.3 million Incorporatedreased...
21Aug2009 | vitalstocks | 0 comments | ContinuedCintas Settles Lawsuit
Yesterday, Cintas Corp. (CTAS) settled a class-action lawsuit, pending since 2003, by agreeing to pay $22.8 million as overtime to its workers. The settlement was reached with an arbitrator and awaits court approval. The lawsuit was filed in US District Court for the Northern...
21Aug2009 | vitalstocks | 0 comments | Continued(XLV) Healthcare Debate – Some Potential Stock Winners
The ongoing debate about health care has become more focused on ideological lines than on what realistically can and should be done. Though not surprising, it is unfortunate. It would be wonderful if the conversation shifted to what changes can realistically be made and what...
21Aug2009 | vitalstocks | 0 comments | Continued(BMY) Bristol-Myers Working on Medarex
Yesterday, Bristol-Myers Squibb Co. (BMY) extended its cash tender offer to purchase all outstanding shares of Medarex Inc. (MEDX) by two days to Aug. 26. Bristol-Myers offered to buy Medarex for $16 per share, or $2.1 billion in July. However, less than 9% of Medarex’s...
21Aug2009 | vitalstocks | 0 comments | Continued(CRM) Salesforce Delivers, Earnings Guidance Up
Salesforce.com (CRM) reported second quarter EPS of 17 cents and revenue of $316.1 million, which exceeded the Zacks Consensus Estimate EPS of 15 cents and revenue of $313.0 million. Revenue for the quarter was $316.1 million, an increase of 20.0% from $263.0 million reported...
21Aug2009 | vitalstocks | 0 comments | Continued(GHC) Global Consumer Acquisition Corp Eyes BB&T Corp’s Branches
Global Consumer Acquisition Corp. (GHC) announced yesterday that it intends to buy some or all of BB&T Corp.’s (BBT) 21 branches in Nevada. Those branches were acquired by BB&T as part of its takeover of Colonial BancGroup last Friday. Global is in discussion with...
21Aug2009 | vitalstocks | 0 comments | Continued