Archive for August, 2009
(TECD) Tech Data Outperforms – value-added resellers accounted for 50% of second quarter revenue
Tech Data Corp. (TECD) has declared encouraging financial results for the second quarter of fiscal 2010. Total revenue was $5.2 billion compared to $6.2 billion in the prior-year quarter. However, this was above the Zacks Consensus Estimate of $5.04 billion. The year-over-year...
21Aug2009 | vitalstocks | 0 comments | Continued(HSP) Hospira – FDA reinstated approval for Hospira’s generic version of Eloxatin
The US Food and Drug Administration (FDA) reinstated the previously suspended approval for Hospira’s (HSP) generic version of Eloxatin (chemotherapy agent), giving the company some relief for the time being. The Eloxatin issue has been in the news for the past few days ever...
21Aug2009 | vitalstocks | 0 comments | Continued(PBR) Petrobras found light crude in reserves
Petroleo Brasilerio, also known as Petrobras (PBR), found light crude in reserves situated in the Campos Basin off the coast of the state of Rio de Janeiro. The discovery was made by drilling well 1-BRSA-713-RJS (1-RJS-661) in Exploratory Concession BM-C-36 (block C-M-401). This...
21Aug2009 | vitalstocks | 0 comments | Continued(T) Federal Communications Commission To Probe Wireless Practices
The Federal Communications Commission (FCC) will hold a meeting on Aug 27 to assess business practices in the U.S. wireless market. The telecom regulator will review various key aspects of the wireless industry including the competitive scenario, factors that stimulate innovation...
21Aug2009 | vitalstocks | 0 comments | Continued(GS) Goldman Sachs Group Becomes Holding Company
Goldman Sachs Group Inc. (GS) announced that it has received Federal Reserve’s approval on August 14, 2009 to become a financial holding company. Goldman had intended to seek FHC status when it first converted to a Bank Holding Company last year. The designation allows Goldman...
21Aug2009 | vitalstocks | 0 comments | Continued(AIG) American International Group – Politicians Monitor Health Insurers
Democrats in Congress have asked the nation’s biggest health insurers to provide data on executive compensation and bonus, profit margins, corporate retreats and spending and premium charges as part of its investigation of the private health insurance industry. The inquiry...
21Aug2009 | vitalstocks | 0 comments | Continued(SHW) Used Home Sales Jump
Existing home sales rose 7.2% from last month to a seasonally adjusted annual rate of 5.24 million from June’s rate of 4.89 million. This was also 5.0% above the year-ago level of 4.99 million, and the consensus expectations of 5.0 million. This is very good news. The only...
21Aug2009 | vitalstocks | 0 comments | Continued(GOOG) What’s Wrong with Google Books? – already scanned nearly seven million books
The opposition against Google’s (GOOG) book digitization program is strengthening. The New York Times has come out with a story stating that Microsoft (MSFT), Yahoo! (YHOO) and Amazon (AMZN) have entered the fray. While Amazon management avoided comment, Microsoft and Yahoo...
21Aug2009 | vitalstocks | 0 comments | Continued(ORCL) Oracle Gets Approval to Buy Sun
The largest software company, Oracle Corp. (ORCL) announced that the U.S. Department of Justice (DOJ) has approved its proposed acquisition of Sun Microsystems, Inc. (JAVA). The approval from the DOJ was much anticipated. In June, the DOJ had extended its investigation on the...
21Aug2009 | vitalstocks | 0 comments | Continued(ARO) Aeropostale Momentum Continues – gross profit grew 31.6% year over year
Aeropostale Inc.’s (ARO) fiscal second-quarter net income surged 83.3% year over year to $38.6 million. Earnings per share came in at 57 cents, beating the Zacks Consensus Estimate by a penny. The performance was also higher than the company’s upgraded guidance of 54 cents...
21Aug2009 | vitalstocks | 0 comments | Continued(PSUN) Pacific Sunwear misses the boat even with cost-cutting measures
Pacific Sunwear of California (PSUN) recently reported dismal second-quarter results despite cost-cutting measures adopted by management amidst a challenging global retail environment. Both top and bottom lines continue to struggle. The company’s quarterly net loss of $14.2...
21Aug2009 | vitalstocks | 0 comments | Continued(XTO) Natural Gas Continues to Build
Yesterday, in its weekly report, the Energy Information Administration (EIA) said that natural gas inventories for the latest week came towards the lower end of expectations. Stockpiles held in underground storage in the lower 48 states rose by 52 billion cubic feet (Bcf) to...
21Aug2009 | vitalstocks | 0 comments | ContinuedIs US hyperinflation a clear and present danger?
This post is a guest contribution by Paul Kasriel* of The Northern Trust Company. We hear a lot of concern that the Fed’s mushroomed balance sheet over the past two years is setting the stage for a 1970s style inflation here. So long as we have a fiat (a.k.a. Chrysler?) monetary...
21Aug2009 | prieur | 0 comments | Continued(WSM) Recommended Investment Books: Nine Invaluable Resources For Every Investor
by Marc Lichtenfeld, Advisory Panelist Heaven help me… Mrs. L is on a mission. My house has been turned upside-down, as she prepares to redecorate several rooms. Fortunately for the household, my input is neither required, nor requested. Undeterred by the recession, the...
20Aug2009 | InvestmentU | 0 comments | Continued(FSLR) A Partly Sunny Outlook for the Solar Industry
Tony Daltorio, The Investment U Research Team The forecast for the solar power industry is rather cloudy. On the one hand, we have governments globally trying to give the industry the impetus it needs, through subsidies and incentives, to fulfill its potential and become a...
20Aug2009 | InvestmentU | 0 comments | Continued(HRL) Hormel Reports Modest Results – 57 Cents which beat consensus of 50 cents
Hormel Foods Corp. (HRL) reported modest earnings for the third quarter with earnings of 57 cents per share, which was above the Zacks Consensus Estimate of 50 cents. Quarterly earnings were up considerably from the 38 cents reported in the prior-year quarter. Net sales for the...
20Aug2009 | vitalstocks | 0 comments | Continued(BA) Boeing Makes Progress in Panama
Yesterday, Boeing (BA) said it had completed its critical design review of Required Navigation Performance (RNP) procedures for Panama’s Tocumen International Airport and Howard Airport. The critical design review, which took place at the Copa Airlines training center in Panama...
20Aug2009 | vitalstocks | 0 comments | Continued(EV) Eaton Vance Matches Expectations – sluggish fee income amid weak fund inflows
Asset manager Eaton Vance Corp. (EV) reported fiscal third-quarter net income of $31.2 million, a decline of 37% year-over-year as performance was affected by sluggish fee income amid weak fund inflows. Excluding a charge associated with an IPO, earnings per share came in at...
20Aug2009 | vitalstocks | 0 comments | Continued(HES) Hess: Positive Production Outlook – optimistic about the company’s forward drilling program
New York-based Hess Corporation (HES) is an integrated oil company engaged in oil and gas exploration and production (E&P) and refining as well as marketing. The company’s E&P activities are concentrated in the U.S., Europe, Africa and Asia. Hess’ exposure...
20Aug2009 | vitalstocks | 0 comments | Continued(HAR) Harman’s Profit Plummets – net sales decreased 30% year-over-year
Harman International Industries, Inc. (HAR), a leading global manufacturer of audio and infotainment products, has reported dismal fourth quarter and fiscal 2009 results, with a decrease in year-over-year sales and net income. Harman has reported net sales of $668 million during...
20Aug2009 | vitalstocks | 0 comments | Continued(MBA) Prime Mortgages Going Sour
At the end of the second quarter, 4.3% of all residential mortgages were in some part of the foreclosure process, up from 3.85% at the end of the first quarter and 2.75% a year ago. In addition, on a seasonally adjusted basis, 9.24% of all mortgages were delinquent (behind by...
20Aug2009 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell PLC Starts Jordanian Project
Jordan’s top energy resources regulatory agency – the Natural Resources Authority (NRA) – said that the government’s multi-billion dollar oil shale agreement with energy major Royal Dutch Shell PLC (RDSA) has come into force this week. Shell’s subsidiary, the Jordan...
20Aug2009 | vitalstocks | 0 comments | Continued(LLL) L-3 Communications Snags Air Force Contract
L-3 Communications Holdings Inc. (LLL) yesterday bagged a $680 million contract from the US Air Force to serve as prime contractor on the T-1A Contractor Logistics Support (CLS) program. This will boost the dwindling order backlog of the company, which fell 20% year-over-year...
20Aug2009 | vitalstocks | 0 comments | Continued(ACAS) American Capital Offering $1.5 billion in Stock
In a filing with the Securities Exchange Commission (SEC), American Capital (ACAS) has said that it may offer up to $1.5 billion aggregate of common stock, preferred stock and debt in one or more offerings from time to time. The filing was done on Wednesday. Like other entities,...
20Aug2009 | vitalstocks | 0 comments | Continued(HAL) Oilfield Majors Eye Pemex Contract – 200 oil wells
Yesterday, Mexico’s state oil company, Petroleos Mexicanos – also known as Pemex, said it is looking for contractors to drill 200 oil wells in the country’s southern district as part of its efforts to offset declining output at existing wells. According to information...
20Aug2009 | vitalstocks | 0 comments | Continued(WRB) W.R. Berkley Expands in Northwest
W.R. Berkley Corporation (WRB) recently announced the formation of a new operating unit, Berkley North Pacific Group, LLC. The new unit will be based in Seattle, Washington and will be a part of its regional segment. It will underwrite products on behalf of W.R. Berkley’s...
20Aug2009 | vitalstocks | 0 comments | Continued(CIEN) Ciena Rises as Telecom Index Recovers – Analyst Blog
We have a neutral rating on Ciena Corp. (CIEN), as the company’s FlexSelect platform has been gaining momentum. It allows carriers to transition networks to carrier grade Ethernet. We believe the acquisition of World Wide Packets will further strengthen its base. The provider...
20Aug2009 | vitalstocks | 0 comments | Continued(IBM) IBM’s Footprint Strong in India
IBM‘s (IBM) broad product and services portfolio delivers value to clients through a combination of services, hardware and software. The key verticals for IBM in the Indian market are infrastructure, such as construction and steel; telecom; industrial; energy and utilities....
20Aug2009 | vitalstocks | 0 comments | Continued(GSK) Glaxo’s Vaccine Portfolio Expanded
Yesterday, the U.S. Food and Drug Administration (FDA) approved GlaxoSmithKline’s (GSK) Hiberix, a Haemophilus influenzae Type b (Hib) vaccine. The vaccine has been approved as a booster dose for children in the age group of 15 months to 4 years. FDA approval was based on safety...
20Aug2009 | vitalstocks | 0 comments | Continued(SNE) LCD Prices to Hurt Sony
As per a recent report, the prices of 32-inch LCD TV panels are witnessing an increase. A 32-inch LCD panel is now priced at around $215, compared to $180 in the middle of June. The rise in price can be attributed to the shortage of a specific type of glass required for the panels,...
20Aug2009 | vitalstocks | 0 comments | Continued