Archive for August, 2009
(AZN) Emerging Market for Pharma
Tony Daltorio, The Investment U Research Team The shape of the global market for pharmaceuticals is undergoing a rapid change. As recently as 2006, more than half of the market growth was in the United States. This data comes from IMS Health, a consultancy that is a leading...
25Aug2009 | InvestmentU | 0 comments | Continued(SMP) Standard Motor Products Inc. – Estimates Are Up – 22% growth projection
Standard Motor Products Inc. (SMP) has been gaining on strong demand for its aftermarket car parts as consumers look to upgrade existing cars as opposed to buying new. Company Description Standard Motor Products, Inc. manufactures and sells replacement parts for motor vehicles...
25Aug2009 | vitalstocks | 0 comments | Continued(PTI) Patni Computer Systems Ltd. – Consensus Estimates Jumped 29% – ROE of 15.08%
Patni Computer Systems Ltd. (PTI) hit a new 52-week high yesterday but is still a value stock with a PEG ratio of just 0.93. The IT services company has surprised on estimates 3 out of the last 4 quarters by an average of 38.36%. Company Description Patni Computer Systems provides...
25Aug2009 | vitalstocks | 0 comments | Continued(AGN) Allergan Receives FDA Warning
On Aug. 21, Allergan, Inc. (AGN) received a warning letter from the U.S. Food and Drug Administration’s (FDA) Division of Drug Marketing, Advertising and Communications (DDMAC) regarding a misleading advertisement used by the company for its acne treatment Aczone Gel, 5%. Aczone...
25Aug2009 | vitalstocks | 0 comments | Continued(APA) Apache Corporation Inks Egypt Energy Deals
Last week, Egypt’s Oil Ministry said that the country has signed three oil and gas exploration agreements with U.S. energy company Apache Corporation (APA). The deals, which involve digging a total of 14 wells in three areas of Egypt’s Western Desert, are valued at $30 million....
25Aug2009 | vitalstocks | 0 comments | Continued(SCL) Stepan Company Sees a Record Quarter and Strong Momentum
Stepan Company (SCL) recently turned in record results for the second quarter. Earnings per share of $2.09 surpassed the previous year’s 93 cents and topped the Zacks Consensus Estimate by 130%. The company also declared a quarterly dividend of 22 cents per share, which...
25Aug2009 | vitalstocks | 0 comments | Continued(NVS) Xolair Label Expanded in EU
This morning, Novartis (NVS) announced that it has received approval from the European Commission (EC) for the use of Xolair (omalizumab) as an add-on therapy for severe persistent allergic asthma in children in the age group of 6 to 11 years. The approval is positive news for...
25Aug2009 | vitalstocks | 0 comments | Continued(MDT) Earnings Preview for Medtronic
Medtronic, Inc. (MDT) will report its fiscal first quarter results tomorrow before the market opens. The Zacks Consensus Estimate for the current quarter is pegged at 78 cents per share. Revenues are estimated at $3.82 billion. Stability in the company’s two leading segments...
25Aug2009 | vitalstocks | 0 comments | Continued(AVGN) Avigen to Be Acquired
On Friday, Avigen Inc. (AVGN) announced that it will be purchased by MediciNova, Inc. (MNOV) for $1.24 per share in either cash or secured convertible notes. The deal has been valued at about $37 million. Approximately $1.19 of the consideration is scheduled be paid to Avigen...
25Aug2009 | vitalstocks | 0 comments | Continued(ACAS) Standard and Poor’s Rating Services Cuts American Capital
Standard and Poor’s Rating Services (S&P) recently downgraded American Capital’s (ACAS) long-term counterparty credit rating to “B-” from “BB-”. The outlook is negative. S&P expressed concern about the rapid decline in the company’s realized...
25Aug2009 | vitalstocks | 0 comments | Continued(KOF) AmBev Expands Margins
Earlier this month, Companhia de Bebidas das Americas (AmBev or ABV) reported better-than-expected second quarter figures with excellent results in the key Brazilian market. Top line grew 8.8% driven by volume growth and price increase across regions. Organic volume growth of...
25Aug2009 | vitalstocks | 0 comments | Continued(MDT) Medtronic Meets Earnings Expectations
Medtronic, Inc. (MDT) reported results for the first quarter of fiscal 2010. Earnings per share were 79 cents, higher than the Zacks Consensus Estimate of 78 cents and the year-ago earnings per share of 72 cents. Sales Net sales in the quarter were $3.933 billion Incorporatedreasing...
25Aug2009 | vitalstocks | 0 comments | Continued(EQR) House Prices Actually Appear to be RISING
The Case-Schiller composite index of housing prices in 20 major metropolitan areas rose 0.7% on a seasonally adjusted basis in June, following an essentially unchanged reading in May. The not-seasonally-adjusted numbers were even better (and what most of the press coverage were...
25Aug2009 | vitalstocks | 0 comments | Continued(HWCC) Uncertain Outlook for Houston Wire & Cable Company
Earlier this month, Houston Wire & Cable Company (HWCC) reported second quarter earnings of 10 cents per share, below the Zacks Consensus Estimate of 17 cents and prior year earnings of 44 cents per share. The company’s cost reduction and productivity improvement efforts...
25Aug2009 | vitalstocks | 0 comments | Continued(AZN) Almost 25 Pharmaceutical Companies are Racing to Bring H1N1the Vaccine to Market
Although we are waiting eagerly for the first H1N1 vaccine to hit the market, it seems production of the vaccine will be much less than the original estimates. According to a warning from the World Health Organization (WHO), supply will be much less than anticipated earlier,...
25Aug2009 | vitalstocks | 0 comments | Continued(FRE) Taylor Bean & Whitaker Mortgage Files for Bankruptcy
Yesterday, Taylor, Bean & Whitaker Mortgage Corporation filed for Chapter 11 bankruptcy protection after it was forced to shutter its mortgage lending operations earlier this month. The Ocala, Florida-based company had captured 1.7% market share nationwide by creating $17...
25Aug2009 | vitalstocks | 0 comments | Continued($S) FTC OKs Sprint-Virgin Mobile Merger
Sprint Nextel (S) reportedly received approval from the Federal Trade Commission for its acquisition of Virgin Mobile USA (VM). With this antitrust clearance, the company has successfully crossed the first major hurdle in taking over the prepaid wireless reseller. The deal,...
25Aug2009 | vitalstocks | 0 comments | Continued(ACI) Arch Coal Gets Jacobs Ranch
The Federal Trade Commission recently granted antitrust clearance to Arch Coal (ACI) for its pending acquisition of Rio Tinto’s (RTP) Jacobs Ranch mine in the Powder River Basin of Wyoming. Arch expects to close the deal within six weeks. Earlier in March, Arch announced...
25Aug2009 | vitalstocks | 0 comments | Continued(BAC) Are American Homes Affordable?
In order to address the key problems of the current financial crisis and restore the economy, the Obama Administration introduced the Home Affordable Modification Program (HAMP) earlier this year. The program has pledged $75 billion to retain the homes of 3 to 4 million Americans...
25Aug2009 | vitalstocks | 0 comments | Continued(NWS) Dow Jones & Company Seeking Buyers
Dow Jones & Co., owned by News Corp. (NWS), has started seeking potential buyers for its stock market index business Incorporatedluding the renowned benchmark Dow Jones Industrial Average. Goldman Sachs has been appointed to explore strategic options for the business. News...
25Aug2009 | vitalstocks | 0 comments | Continued(ZOLL) ZOLL’s New Wearable Defibrillator Approved
ZOLL Medical (ZOLL) obtained clearance from the U.S. Food and Drug Administration (FDA) for its new model of the LifeVest wearable defibrillator. The physicians advise LifeVest for their patients, who run the risk of sudden cardiac arrest. LifeVest enables physicians to assess...
25Aug2009 | vitalstocks | 0 comments | Continued(COCO) Corinthian Jumps 8%+ on Q2, Outlook
Corinthian Colleges Inc. (COCO) reported fiscal fourth-quarter earnings of 31 cents per share, beating the Zacks Consensus Estimate by more than 29%. Shares have jumped more than 8% today. Quarterly sales expanded 29% to $353.5 million, driven by a 24.4% growth in total student...
25Aug2009 | vitalstocks | 0 comments | Continued($F) Economy Gaining Confidence?
The Conference Board’s Consumer Confidence index soared to 54.1 in August, up from 47.4 (upwardly revised from 46.6) and blowing away expectations of just a slight increase to 47.5. However, while improving, it still remains very low; 90 is about normal. On the other hand,...
25Aug2009 | vitalstocks | 0 comments | Continued(ARM) ArvinMeritor Sells its Wheels Business
Earlier this month, auto parts supplier ArvinMeritor Inc. (ARM) agreed to sell its Wheels business to focus on its core business. Lochpe-Maxion, a Sao Paulo, Brazil-based producer of wheels and frames for commercial vehicles, railway freight cars and castings, will buy the segment...
25Aug2009 | vitalstocks | 0 comments | Continued(ABT) Abbott’s Stent Cleared for Immediate Launch in Canada
Yesterday, Abbott Laboratories (ABT) received approval from Health Canada for its XIENCE V Everolimus Eluting Coronary Stent System for the treatment of coronary artery disease (CAD). The product will be launched in Canada immediately. Coronary artery disease is a common type...
25Aug2009 | vitalstocks | 0 comments | Continued(PCAR) Moody’s Gives Downgrade to Paccar
Moody’s Investors Service has downgraded its outlook on Paccar Inc. (PCAR) and its main financing arm to Negative from Stable, expecting the heavy truck maker to continue to face difficulties due to a slump in truck demand. The credit ratings agency has also affirmed its...
25Aug2009 | vitalstocks | 0 comments | Continued(BA) Boeing Gets Order for 14 More 737-700 Jets
Boeing Company (BA) yesterday bagged an order for fourteen 737-700 series aircrafts from Canadian airliner WestJet. This took WestJet’s pending deliveries for 737-700 series aircraft from Boeing to 54. With this order, Boeing has been able to maintain its position as the sole...
25Aug2009 | vitalstocks | 0 comments | Continued(DVN) Devon Energy Recommendation Stays Neutral
Oklahoma-based Devon Energy (DVN) is a leading independent oil and gas company in the U.S. Its deep and diversified portfolio, primarily comprising unconventional resources, reflects significant long-term growth potential. The company dedicates a substantial part of its capex...
25Aug2009 | vitalstocks | 0 comments | Continued(CAH) Cardinal’s Spin-off to be Added to S&P 500 Index
Cardinal Health Inc. (CAH) announced that its spin-off subsidiary, CareFusion Corp., will be included in the S&P 500 after the close of trading on Aug 31. CareFusion replaces The Manitowoc Co. Inc. (MTW) in the index and will be added to the S&P 500 GICS (Global Industry...
25Aug2009 | vitalstocks | 0 comments | Continued(RIMM) RIMM Bolsters Web Browser
Research In Motion (RIMM) yesterday announced that it acquired Torch Mobile, a web-based software and application developer. Torch Mobile uses the open-source web browser layout engine WebKit to develop web applications for mobile phones. The company’s flagship Iris Browser...
25Aug2009 | vitalstocks | 0 comments | Continued