Archive for August, 2009
(HSP) Major Setback for Hospira Incorporated
In a major setback for Hospira Inc., (HSP) the company had to stop the shipment of its generic version of chemotherapy drug Eloxatin (oxaliplatin), within a few days of receiving regulatory approval. Apart from Hospira, Teva Pharmaceuticals (TEVA), the largest generic player...
19Aug2009 | vitalstocks | 0 comments | Continued(GSK) Pharma Majors to Gain from India
All major pharmaceutical companies that have operations in India are likely to benefit from the latest decision made by the Commerce Ministry in that country. The ministry accepted the Mashelkar committee’s report, according to which India will continue to allow patents on...
19Aug2009 | vitalstocks | 0 comments | Continued(DUK) Duke Energy Goes Green
Duke Energy Corp. (DUK) recently signed an agreement with Sun Edison and will buy electricity generated at the privately held company’s solar farm at Davidson County in North Carolina. The 16.1MW facility is touted as the largest photovoltaic solar farm in the U.S. The solar...
19Aug2009 | vitalstocks | 0 comments | Continued(MFB) Maidenform Brands, Inc. – Earnings topped the consensus estimates by 24%
Maidenform Brands, Inc. (MFB) recently announced second-quarter results, which included a sales jump of 5.6% year-over-year thanks to strong demand for the company’s bras and shapewear products. Earnings per share of 31 cents topped the Zacks Consensus Estimate by 24%. Company...
19Aug2009 | vitalstocks | 0 comments | Continued(CSIQ) Canadian Solar, Inc. – Estimates Up Huge
Canadian Solar, Inc. (CSIQ) is up huge since bottoming out in March on surging estimates and cost cutting measures. Company Description Canadian Solar, Inc., together with its subsidiaries, designs, manufactures and sells solar cells and modules that convert sunlight into electricity...
19Aug2009 | vitalstocks | 0 comments | Continued(PCLN) Priceline.com Inc. – booked yet another double-digit earnings surprise
Priceline.com Inc. (PCLN) blew estimates away once again despite recent reports of slower consumer spending. Company Description Priceline.com is a web-based discount travel service. The company allows customers to choose their own prices on air fare, hotels, and other vacation...
19Aug2009 | vitalstocks | 0 comments | Continued($GLW) Corning Inc. – subject of a recent analyst upgrade
Corning Inc. (GLW) recently reported second-quarter earnings of 39 cents per share, eclipsing the Zacks Consensus Estimate by 30%. Sales of $1.4 billion topped the previous quarter’s total by 41% and came in 18% below the year-prior result. Company Description Corning makes...
19Aug2009 | vitalstocks | 0 comments | Continued(LMT) Lockheed Martin Slashes Jobs
Lockheed Martin Space Systems Co., one of the four key operating units of Lockheed Martin Corp. (LMT), will downsize its employee base to boost competitive position and profitability. By the end of this year, the Space Systems division will retrench around 800 personnel, approximately...
19Aug2009 | vitalstocks | 0 comments | Continued(EMC) Initiating Coverage on EMC with Neutral Stance
We are initiating coverage of EMC Corporation (EMC) with a Neutral rating and a $16 price target. Our rating is based on the following thesis: EMC holds a leadership position in the storage hardware and software segment. The information storage business is EMC’s largest segment...
19Aug2009 | vitalstocks | 0 comments | Continued(PLCM) Polycom Keeps Restructuring – plans to cut its workforce by 3% in the third quarter
Polycom Inc. (PLCM) recently announced plans to cut its workforce by 3% in the third quarter. Consequently, the company will record a restructuring charge of $5 million – $6 million in the same quarter. Last January, management had declared plans of reducing total headcount...
19Aug2009 | vitalstocks | 0 comments | Continued(AET) Zacks #5 Rank Additions – Strong Sell ratings added
Here are the stocks added to the Zacks #5 Rank (“strong sell”) List today: Aetna Inc (AET) Belden Inc (BDC) Berkshire Hills Bancorp Inc (BHLB) Developers Diversified Realty Corp (DDR) Equity Lifestyle Properties Inc (ELS) Fastenal Co (FAST) FLIR Systems Inc (FLIR) Harsco...
19Aug2009 | vitalstocks | 0 comments | Continued(BWY) Zacks #1 Rank Additions for Wednesday – Strong Buy changes
Here are the stocks added to the Zacks #1 Rank (“strong buy”) List today: Bway Holding Co (BWY) China-Biotics Inc (CHBT) DreamWorks Animation SKG Inc (DWA) Evercore Partners Inc (EVR) Gafisa SA (GFA) KMG Chemicals Inc (KMGB) Navarre Corp (NAVR) Platinum Underwriters...
19Aug2009 | vitalstocks | 0 comments | Continued(DE) Deere earnings of 99 cents, well above the estimate of 57 cents
Early today, Deere & Company (DE) reported fiscal third quarter earnings of 99 cents per share, well above the Zacks Consensus Estimate of 57 cents per share. However, quarterly earnings were down 27% year over year, primarily due to a double-digit decline in sales. Quarterly...
19Aug2009 | vitalstocks | 0 comments | Continued(HPQ) Hewlett-Packard Propped by EDS – Outlook Better than Expected
Hewlett-Packard (HPQ) third quarter revenue and adjusted EPS were slightly above the Zacks Consensus Estimate of $27.3 billion and 90 cents, respectively. Revenue came in at $27.5 billion, a decrease of 2.1% over the $28.0 billion reported in the year-ago period but up 4.0% when...
19Aug2009 | vitalstocks | 0 comments | Continued(TM) Sanyo Supplies lithium-ion batteries to Toyota
The world’s biggest automaker Toyota Motor Corp. (TM) is planning to source lithium-ion batteries for its hybrid vehicles from Sanyo Electric Co. to keep pace with the growing demand for electric cars. Sanyo, the world’s largest maker of rechargeable batteries, will supply...
19Aug2009 | vitalstocks | 0 comments | Continued(JEC) Strong Orders Buoy Jacobs – $1.1 million 3-year task order from Marine Corps Systems
Yesterday, Jacobs Engineering Group Inc. (JEC) received a $215 million contract for delivering technical consultancy services to Highways Agency, which manages, maintains and improves England’s motorways and major roads. The contract is for 18 months and has an option for extension...
19Aug2009 | vitalstocks | 0 comments | Continued(ANAD) ANADIGICS Shows 3G Strength – reported results beat management’s expectations
ANADIGICS, Inc. (ANAD) recently reported net sales of $31.5 million, up 3% sequentially but down 61% year over year in the second quarter of 2009. ANADIGICS designs and manufactures radio frequency integrated circuits (ICs) for the wireless and broadband markets. The company...
19Aug2009 | vitalstocks | 0 comments | Continued(PBR) Petrobras Fights Back – continuous increase in demand in Brazil
Last Week, Petroleo Brasileiro SA or Petrobras (PBR) posted negative second-quarter results, which were in line with expectations due to the huge slump in oil prices in 2009 from the last year. Fall in oil price from $109 per barrel in the first half of 2008 to $52 per barrel...
19Aug2009 | vitalstocks | 0 comments | Continued(Q) Qwest – announced the discountinuation of its wireless operation
Qwest Communications (Q) announced yesterday the discountinuation of its wireless operation (Qwest Wireless) effective October 31, 2009. The Denver-based telecom operator has reportedly started to circulate a 60-day notice to its susbsribers to migrate to alternative service...
19Aug2009 | vitalstocks | 0 comments | Continued(MOVE) Move, Inc. – 2 cents easily beat the estimate of break-even earnings
Move, Inc. (MOVE) recently reported sales of $54.6 million in the second quarter of 2009, down 11.1% year over year and about flat on a sequential basis. Move provides a variety of real estate services through a family of websites. These services, which include online media and...
19Aug2009 | vitalstocks | 0 comments | Continued(BBT) Colonial Will Not Hurt BB&T
Yesterday, BB&T Corp. (BBT) said expected losses in the loan portfolio acquired from Colonial BancGroup (CBCG) of $5 billion will not have a negative impact on its earnings because of its loss-sharing agreement with the Federal Deposit Insurance Corporation (FDIC). Last Friday,...
19Aug2009 | vitalstocks | 0 comments | Continued(TEF) Telefonica Speeds Up – expanding the broadband offering to wholesale customers across Germany
Spanish telecom giant Telefonica (TEF) is reportedly expanding the broadband offering to wholesale customers across Germany. The company’s subsidiary Telefonica O2 Germany is providing faster Internet access starting from October 2009 through the launch of SHDSL.bis standard...
19Aug2009 | vitalstocks | 0 comments | Continued(VAL) Valspar Profit Improves – raised its earnings estimate for fiscal 2009
Valspar Corp. (VAL) revealed a 38% improvement in profit to $65 million or 61 cents per share for the fiscal third quarter. The world’s sixth largest paint and coatings manufacturer also topped the Zacks Consensus Estimate of 53 cents per share. Net income in the corresponding...
19Aug2009 | vitalstocks | 0 comments | Continued(COP) Conoco, Australia’s Origin Energy Select LNG Site
Recently, oil major ConocoPhillips (COP) and Australia’s Origin Energy Ltd., joint developers of a multi-billion dollar liquefied natural gas (LNG) project, chose a 230-hectare site for the venture’s processing plants. The 50-50 partnership, Australia Pacific LNG, zeroed...
19Aug2009 | vitalstocks | 0 comments | Continued(EIX) Edison & First Solar Join Forces
Southern California Edison, a subsidiary of Edison International (EIX), and First Solar (FSLR) have joined forces in developing two solar power facilities in Southern California, having a combined generating capacity of 550 megawatts (MW) of clean energy. Requisite approvals...
19Aug2009 | vitalstocks | 0 comments | Continued(LLY) Lilly Discontinues Arzoxifene Trials
Yesterday, Eli Lilly and Company (LLY) announced that it will not seek approval from the U.S. Food and Drug Administration (FDA) for its phase III pipeline candidate, arzoxifene, which is being developed for the prevention and treatment of osteoporosis in postmenopausal women...
19Aug2009 | vitalstocks | 0 comments | Continued(MYL) Mylan Drug Gets Tentative OK
Yesterday, Mylan Inc. (MYL) announced that its Indian subsidiary, Matrix Laboratories, received tentative approval from the US Food and Drug Administration (FDA) under the President’s Emergency Plan for AIDS Relief (PEPFAR) for its generic version of a fixed-dose combination...
19Aug2009 | vitalstocks | 0 comments | Continued(F) Ford Cars Will Talk with the nation’s electric grid for recharging the battery
Ford Motor (F) recently introduced an intelligent vehicle-to-grid communications technology that will enable its plug-in hybrid electric vehicles (PHEVs) to simply “talk” with the nation’s electric grid for recharging the battery. The new technology that works...
19Aug2009 | vitalstocks | 0 comments | Continued(JNJ) Panel Decision to Benefit J&J – 5-0 in favor of the Pinnacle Complete implant system
We are pleased with the favorable decision taken by the Food and Drug Administration (FDA) panel regarding Johnson & Johnson’s (JNJ) hip replacement system. The panel, consisting of orthopedic experts, voted 5-0 in favor of the system named Pinnacle Complete implant system....
19Aug2009 | vitalstocks | 0 comments | Continued(NSC) Norfolk to Serve Mid-Atlantic
Norfolk Southern Corp. (NSC) announced that it has selected a site in Greencastle, Pa for a $95 million intermodal rail facility that will serve the Mid-Atlantic region as part of the Cresent Corridor initiative. Norfolk Southern’s Crescent Corridor initiative is a multistate...
19Aug2009 | vitalstocks | 0 comments | Continued