Archive for August, 2009
(CHL) China Mobile’s Lukewarm Results – lower subscriber growth on a year-over-year basis
China Mobile (CHL) announced interim 2009 results today with reported net income of RMB55.3 billion (US$8.1 billion) or RMB2.72 per share, up 1.4% compared to RMB54.5 billion (US$8 billion) or RMB2.68 per share reported in the corresponding period a year-ago. This tepid growth...
20Aug2009 | vitalstocks | 0 comments | Continued(SNP) Mixed Bag for Chinese Oil Majors
Prominent Chinese refiners Sinopec (SNP) and PetroChina Company Ltd. (PTR) are set to release solid quarterly earnings on the back of an increase in fuel prices. China raised gasoline and diesel prices twice in June in order to track international crude prices. The increase in...
20Aug2009 | vitalstocks | 0 comments | Continued(ROST) Ross Stores Offers Upbeat Outlook
Shares of Ross Stores Inc. (ROST) have advanced more than 3% in afternoon trade after the company offered an upbeat outlook. The retailer expects fiscal third-quarter earnings of 57 cents to 63 cents per share, which is higher than the Zacks Consensus Estimate of 56 cents. Moreover,...
20Aug2009 | vitalstocks | 0 comments | Continued(BFRM) BioForm Much Improved – Loss of only 4 cents vs estimate of 11 cent loss
BioForm Medical, Inc. (BFRM) reported strong results for the fourth quarter of fiscal 2009. For the quarter, the loss per share was 4 cents, considerably better than the Zacks Consensus Estimate of 11 cents and the year-ago loss per share of 43 cents. Quarterly results Sales Net...
20Aug2009 | vitalstocks | 0 comments | Continued(C) Citigroup Faces TARP Audit
Neil Barofsky, the U.S. special inspector general for the Troubled Asset Relief Program (TARP) plans to audit a federal guarantee granted last year to protect Citigroup Inc. (C) from potentially massive losses. The U.S. special inspector general is in charge of keeping a check...
20Aug2009 | vitalstocks | 0 comments | Continued(HON) Fitch Cuts Honeywell Debt Outlook
Fitch Ratings recently lowered its outlook on Honeywell International Inc. (HON) as it expects the defense contractor’s weak operating performance that began late last year to continue through 2009. Lower earnings and cash flow have resulted in a leverage which is above normal...
20Aug2009 | vitalstocks | 0 comments | Continued(AZN) Cornerstone Falls Far Short of Expectations
Last week, Cornerstone Therapeutics Inc. (CRTX) reported second quarter earnings of 13 cents per share, which was well below the Zacks Consensus Estimate of 33 cents. Net revenues for the quarter came in at $25 million, which reflected a 78% increase over the prior-year quarter....
20Aug2009 | vitalstocks | 0 comments | Continued(OPLK) Oplink Beats Zacks Consensus
Oplink Communications, Inc. (OPLK) recently reported revenues of $32.4 million for the fourth quarter of 2009, down 13.3% year over year but up 5.2% sequentially. On a GAAP basis, net income was $249,000, or 1 cent per share. On a non-GAAP basis (excluding stock based compensation,...
20Aug2009 | vitalstocks | 0 comments | Continued(DTE) DTE Energy Prepares Green Patch
Yesterday, DTE Energy Co.‘s (DTE) utility subsidiary Detroit Edison made two Requests for Proposal (RFPs) to add 180MW of renewable energy to its kitty. The proposals are inline with the statutory requirement for Michigan electric utilities to generate 10% of their retail...
20Aug2009 | vitalstocks | 0 comments | Continued(MOT) Motorola Gets Blockbuster Movies for the competitive smart-phone market
The struggling mobile phone developer Motorola (MOT) is all set to establish itself as a formidable player in the intensely competitive smart-phone market. The company entered into an agreement with Blockbuster Inc. (BBI) to offer mobile video entertainment to its customers....
20Aug2009 | vitalstocks | 0 comments | Continued(LNC) Lincoln Sells Asset Management Unit
Lincoln National Corporation (LNC) has agreed to sell its asset management unit, Delaware Investments, to Macquarie Group for approximately $428 million in cash. Macquarie Group is a Sydney, Australia-based leading investment bank. The deal is expected to close around the year-end...
20Aug2009 | vitalstocks | 0 comments | Continued(SI) Chunghwa Upgrades to HSPA+
Chunghwa Telecom (CHT), the largest integrated telecom operator in Taiwan, has planned to launch HSPA+ 3G services from 2010. Through HSPA+, Chunghwa will be able to offer 21 Mbps mobile broadband download speed to its customers. The company has selected Nokia-Siemens Network,...
20Aug2009 | vitalstocks | 0 comments | Continued(PFG) Principal’s Winning Website – features for its Retirement Plan participants
Principal Financial Group’s (PFG) defined contribution plan sponsor website has been ranked first for three consecutive quarters by DALBAR. Additionally, Principal’s defined contribution plan participant site was ranked in DALBAR’s top 10. DALBAR is one of the nation’s...
20Aug2009 | vitalstocks | 0 comments | Continued(RAVN) Raven’s Near-Term Outlook Dark
Raven Industries, Inc. (RAVN) posted fiscal second quarter earnings of 34 cents per share, compared to the Zacks Consensus Estimate of 29 cents. Quarterly earnings were 11% lower than last year due to the impact of economic downturn on the company’s two largest divisions. Quarterly...
20Aug2009 | vitalstocks | 0 comments | Continued(RCI) Rogers Speeds Up Internet – 68% of Rogers Cable’s basic subscribers have access
Recently, a wholly owned unit of Rogers Communications (RCI) announced the launch of ‘Rogers Ultimate High-Speed Internet’ with downloading and uploading speeds of up to 50Mbps and up to 2Mbps, respectively. The service will be available for $149.99 per month for the usage...
20Aug2009 | vitalstocks | 0 comments | Continued(SPX) Markets Keep Churning
by The Investment U Research Team Falling knives, blenders and analogies to seasickness are easy to conjure up with regard to the markets movements as of late. One day we’re up the next we’re severely down. Unfortunately, this will only get worse in the upcoming days and...
20Aug2009 | InvestmentU | 0 comments | Continued(FXP) Get out of China – The entire economy is about to implode
Ryan Cole, The Investment U Research Team Get out of China, now. The entire economy is about to implode. Let me explain. The accepted story is that China is going to lead the world out of this recession. It’s successfully decoupled from the U.S., and GDP is going to grow...
20Aug2009 | InvestmentU | 0 comments | Continued(FRX) Forest’s COPD Drug Disappoints
Yesterday, Forest Laboratories (FRX) announced disappointing results from the mid-stage clinical trials of oglemilast, meant for chronic obstructive pulmonary disease (COPD) that usually affects smokers. The drug was being developed with Glenmark Pharmaceuticals S.A. (Switzerland),...
20Aug2009 | vitalstocks | 0 comments | Continued(NXY) Nexen Oil Field Comes Online – debt-heavy balance sheet and substantial capital needs
Nexen Inc. (NXY) has commenced its first oil production from the Ettrick field in Blocks 20/2a and 20/3a in the U.K. North Sea. In July 2006, U.K. authorities approved the Ettrick field development. Subsequently, six wells were drilled in this field. The field is being produced...
20Aug2009 | vitalstocks | 0 comments | Continued(EAT) Brinker Expanding to Russia
Brinker International, Inc. (EAT), leading operator of full service restaurants entered into a development agreement with developer Trio’s Group Ltd., to establish Chili’s® Grill & Bar in Russia. EAT plans to open 25 restaurants in the Russian Federation by...
20Aug2009 | vitalstocks | 0 comments | Continued(BMY) Bristol-Myers Squibb’s Plavix Patent Getting Review
Bristol-Myers Squibb (BMY) announced that its lead drug, Plavix, will be reviewed by the U.S. Patent and Trademark Office (PTO). Plavix is indicated for the reduction of the risk of heart attacks or strokes in patients with atherosclerosis (the build-up of plaque and hardening...
20Aug2009 | vitalstocks | 0 comments | Continued(OCN) Ocwen Completes Equity Offering
Ocwen Financial Corp. (OCN) announced the completion of its public offering of 32.2 million shares of common stock, which includes 4.2 million shares purchased by the underwriters to cover the over-allotment option. Ocwen received approximately $275.3 million in net proceeds...
20Aug2009 | vitalstocks | 0 comments | ContinuedGDP – 2Q 2009 signals turn in the making
By Cees Bruggemans, Chief Economist FNB First the bad news. GDP declined 2% year-on-year in 1H2009, and will probably average -1.5% for the full year. The good news is that the 1Q2009 was by far the worst statistical quarter (-6.4% quarterly annualised), while the real output...
20Aug2009 | prieur | 0 comments | Continued“Precious Metals” equity mutual funds
Today we are featuring top-performing “Precious Metals” equity mutual funds, which primarily invest in equity securities companies that are involved in mining of gold and other precious metals. Investors can find such funds by checking out the entire list of the Zacks...
20Aug2009 | vitalstocks | 0 comments | Continued(CASY) Casey’s General Stores Inc. – net profit margin of 2% ahead of industry average 1%
Casey’s General Stores Inc. (CASY) is seeing higher Zacks Consensus Estimates ahead of reporting fiscal first-quarter results in early September. During the past 3 months, forecasts climbed 9% for the year ending April 2010. Company Description Casey’s General Stores,...
20Aug2009 | vitalstocks | 0 comments | Continued(EMS) Emergency Medical Services, Corp. – analysts raised full-year estimates
Emergency Medical Services Corp. (EMS) continues to set new highs after a solid quarterly report and analyst estimate revisions. Company Description Emergency Medical Services Corp. provides emergency medical services. The company offers transportation services directly and through...
20Aug2009 | vitalstocks | 0 comments | Continued(NWL) Newell Rubbermaid Inc. – earnings per share beat the consensus estimate by 34%
Newell Rubbermaid Inc. (NWL) recently declared a quarterly dividend of 5 cents per share, which translates into an industry-leading yield of 1.5%. The company also recently reported second-quarter earnings per share of 47 cents, beating the Zacks Consensus Estimate by 34%. Company...
20Aug2009 | vitalstocks | 0 comments | Continued(KG) King Pharmaceuticals – Bear of the Day
King Pharmaceuticals (KG) reported second quarter results of -32 cents per share, beating the Zacks Consensus Estimate of -38 cents per share. Although revenues increased 12% from the year-ago period, we remain concerned about the declining prescription trends of most of the...
20Aug2009 | vitalstocks | 0 comments | Continued(BBBY) Bed Bath & Beyond, Inc. – focus on cost control and strong inventory management
Bed Bath & Beyond, Inc. (BBBY) posted strong first-quarter results in June that easily beat expectations, sending estimates higher as analysts revise their earnings projections. Company Description Bed Bath & Beyond Inc. operates a chain of retail stores specializing...
20Aug2009 | vitalstocks | 0 comments | Continued($F) GM to Bring Back Workers – Analyst Blog
General Motors has released a plan to increase output for the rest of 2009 to meet the demand generated by the recently introduced “Cash for Clunkers” program. “Cash for Clunkers” or the Car Allowance Rebate System (CARS) introduced by the U.S. Government last...
20Aug2009 | vitalstocks | 0 comments | Continued