Archive for September, 2009
(GENZ) Genzyme Struggles to Restore Order
On Wednesday, Genzyme Corp. (GENZ) provided a mixed update on its supply schedule for Cerezyme and Fabrazyme. The two key contributors to the company’s top line are produced at its Allston plant. Last June, Genzyme had to temporarily shut down this unit due to contamination...
26Sep2009 | vitalstocks | 0 comments | Continued($UBS) Swiss Banks Choose Safety Over Secrecy
On Wednesday, the US and the Swiss governments officially signed the new dual tax treaty which represents an important development for the Obama administration’s endeavor to fight international tax evasion. The Swiss government has agreed to the international standard on exchange...
25Sep2009 | vitalstocks | 0 comments | Continued(IBM) IBM Cut to Neutral from Outperform
We downgrade International Business Machines (IBM) to Neutral from Outperform to reflect near-term risks to the company’s top-line growth and valuation. We believe that IBM’s long-term revenue growth potential is limited and remain cautious on currency fluctuation, which...
25Sep2009 | vitalstocks | 0 comments | Continued(FNM) Fed: Growth, No Near-Term Inflation
The Federal Reserve decided to keep the Fed Funds rate at its historically low level, and noted that growth was starting to pick up and there was very little threat of near-term inflation. The current statement and the one from the previous meeting (8/12) are presented below,...
24Sep2009 | vitalstocks | 0 comments | Continued(PAYX) Paychex Results Report In Line With Estimates
Paychex Inc. (PAYX), provider of payroll and human resource services, announced fiscal first-quarter results after Wednesday’s closing bell. Earnings totaled 34 cents per share, versus the year-prior 41 cents. The result was in line with the Zacks Consensus Estimate. Sales...
24Sep2009 | vitalstocks | 0 comments | Continued(F) Ford Expands Asian Operations
Ford Motor (F) has released plans suggesting an intense focus on its operations in China and India. The company looks forward to adding 250,000 units to its annual production capacity, taking both the countries into account. Ford Motor has announced the launch of production of...
24Sep2009 | vitalstocks | 0 comments | Continued(ALTH) Allos TherapeuticsAwaits FDA Report on Folotyn
We are awaiting the US Food and Drug Administration’s (FDA) decision regarding Allos Therapeutics’ (ALTH) lymphoma drug Folotyn. The company, which is seeking approval of Folotyn for the treatment of relapsed or refractory peripheral T-Cell lymphoma (PTCL), was assigned a...
24Sep2009 | vitalstocks | 0 comments | Continued(GPS) The Gap Upgraded to Outperform
Gap Inc. (GPS) is a premier international specialty retailer offering a diverse range of clothing, accessories and personal care products for men, women, children and babies. Its flagship brands include Gap, Banana Republic, Old Navy, Piperlime and Athleta. Approximately...
24Sep2009 | vitalstocks | 0 comments | Continued(KWK) Quicksilver’s Horn River Basin Tests Positive
Quicksilver Resources (KWK) recently tested its first completed well in the Horn River Basin in Northeast British Columbia. The well had an initial production rate of 13 million cubic feet per day and averaged 10 million cubic feet per day during the first month of production. The...
24Sep2009 | vitalstocks | 0 comments | Continued(HAIN) Hain Celestial – Bear of the Day
The natural and organic food industry including Hain Celestial (HAIN) is facing the brunt of the economic slowdown and escalating costs. The ongoing turmoil and the battered financial market are exerting pressure on consumer disposable incomes, triggering a shift in focus from...
24Sep2009 | vitalstocks | 0 comments | Continued(JJSF) J & J Snack Foods Corp. – Bullish Forecasts and Solid Momentum
J & J Snack Foods Corp. (JJSF) continues to see bullish Zacks Consensus Estimates on strong fundamentals. Analysts are calling for 2009 earnings of $2.13 per share and 2010 earnings of $2.34, which translates into 10% growth. Company Description J & J Snack Foods Corp....
24Sep2009 | vitalstocks | 0 comments | Continued($CFSG) China Fire & Security – Bull of the Day
China Fire & Security Group (CFSG) is a leading provider of industrial fire protection systems in China. The company’s strong position in the industry has enabled it to win a high percentage of its bids, which is around 60-70% of bids in the iron and steel industry. Though...
24Sep2009 | vitalstocks | 0 comments | Continued(SYNT) Syntel, Inc. – Earnings Estimates Spike
Syntel, Inc. (SYNT) continues its streak of earnings surprises as estimates and share price spikes. Company Description Syntel provides tech services to companies and public entities. Services are divided into the e-Business, Application Outsourcing, and Teamsourcing. Tops Forecasts On...
24Sep2009 | vitalstocks | 0 comments | Continued(CTAS) Cintas Corporation Beats Zacks Estimate
Yesterday, Cintas Corp. (CTAS) declared first quarter fiscal 2010 financial results. Quarterly revenue of $891.6 million declined 11% year-over-year but was up 1.5% sequentially. The yearly decline in revenue was primarily due to an extremely challenging economic environment...
24Sep2009 | vitalstocks | 0 comments | Continued(BUCY) Bucyrus International Inc. – Surprised by 30.12% in the Second Quarter
Bucyrus International (BUCY) surprised on estimates for the second quarter in a row in July. Analysts forecast 10.6% year over year earnings growth in 2009 despite the global recession. BUCY isn’t very expensive, trading at just 10.8x forward earnings. Company Description Bucyrus...
24Sep2009 | vitalstocks | 0 comments | Continued(AIR) AAR Corporation Produces Weak Results
Yesterday, after market closed, AAR Corporation (AIR) posted discouraging results for the first quarter of FY2010 results. Revenue was $341.5 million, down from $359.9 million in the year ago quarter. Net income of $10.2 million was also down from $15.0 million in the second...
24Sep2009 | vitalstocks | 0 comments | Continued(CAEI) China Architectural Engineering Inc – Infrastructure Project Updates
China Architectural Engineering Inc. (CAEI) provided updates on its Nine Dragon and Dubai Metro System projects. The company said that the Nine Dragon Project successfully passed evaluation and assessment by China’s national experts, paving the way for new, large projects...
24Sep2009 | vitalstocks | 0 comments | Continued(XLNX) Xilinx Raises Guidance for September Quarter
Xilinx, Inc. (XLNX) recently upgraded its guidance for the September quarter. The company now expects sales to be up approximately 10% sequentially, from the previous guidance of sales being up approximately by 2% – 6%. The increase in guidance was primarily due to the broad-based...
24Sep2009 | vitalstocks | 0 comments | Continued(DHI) Surprise Fall in Used Home Sales
In August, the seasonally adjusted annual rate (SAAR) of existing home sales was 5.10 million, a decline of 2.7% from the 5.24 million pace in July, and well below the 5.35 million pace expected by the consensus of economists. However, it was a 3.4% improvement from the 4.93...
24Sep2009 | vitalstocks | 0 comments | Continued(BAC) Bank of America Sued by US Securities and Exchange Commission for Merrill Bonuses
The US Securities and Exchange Commission (SEC) will aggressively pursue a trial against Bank of America Corp. (BAC) for allegedly misleading investors during the acquisition of Merrill Lynch & Co. late last year. The SEC accused BofA of failing to disclose to shareholders...
24Sep2009 | vitalstocks | 0 comments | Continued(UDR) UDR Gets Fannie Mae Credit Facility Through Red Mortgage Capital
Real Estate Investment Trust UDR Inc. (UDR) recently obtained a $200 million secured credit facility originated by Red Mortgage Capital Inc., a premier Fannie Mae (FNM) lender. The credit facility is collateralized by five geographically diverse properties, permits collateral...
24Sep2009 | vitalstocks | 0 comments | Continued(NYT) New York Times Company Stake Sold by Harbinger Capital Partners
Recently, Harbinger Capital Partners, one of the largest investors in The New York Times Company (NYT), offloaded a chunk of its stake in the company. The investment firm sold about 5 million shares at $8.25 per share, fetching $41.3 million in total. This reduces its ownership...
24Sep2009 | vitalstocks | 0 comments | Continued(REGN) Regeneron Pharmaceuticals Enrolls for Studies
Last week, Regeneron Pharmaceuticals, Inc. (REGN) announced the completion of enrollment in two late stage studies of its VEGF (vascular endothelial growth factor) trap-eye treatment for age-related macular degeneration (wet AMD), a leading cause of blindness in adults. Each...
24Sep2009 | vitalstocks | 0 comments | Continued(AMGN) Amgen’s Vectibix Offers Mixed Data From Trial
Yesterday, Amgen (AMGN) presented data from a phase III trial of its Vectibix in combination with Folfiri (an irinotecan based chemotherapy) as a second-line treatment for metastatic colorectal cancer at the 2009 ECCO 15 – ESMO 34 European Multidisciplinary Congress in...
24Sep2009 | vitalstocks | 0 comments | Continued(DTV) DIRECTV Group Raises Debt Financing
On Sep 22, 2009, DIRECTV Holdings and DIRECTV Financing Company, the subsidiaries of the DIRECTV Group, Inc. (DTV) announced the completion of the $2 billion debt financing, previously announced on Sep 14, 2009. The debt financing consists of 4.75% senior notes of $1 billion...
24Sep2009 | vitalstocks | 0 comments | Continued(VALE) Rio Tinto Sells Iron Mines to Vale
Early this week, Vale (VALE) acquired Corumbá iron ore mining operations from Rio Tinto Plc (RTP) for $750 million in cash. It was the part of a larger transaction that included the sale of a potash project and certain exploration assets in Canada . The potash deal closed in...
24Sep2009 | vitalstocks | 0 comments | Continued(OVTI) OmniVision Technology Grows in Autos
Taiwanese firm Altek Corp. recently selected OmniVision Technology’s (OVTI) AutoVision image sensors for its Eagle View 360-degree surround viewer and lane departure warning system. The automotive-qualified Eagle View protection system will include a number of AutoVision sensors...
24Sep2009 | vitalstocks | 0 comments | Continued(T) Top Income Equity Funds – Mutual Fund Commentary
Today we are featuring top-performing “Income” equity mutual funds, which primarily invest in equity securities of companies in search of income. Investors can find such funds by checking out the entire list of the Zacks #1 Rank Income Equity Funds. 3 Solid Samples Parnassus...
24Sep2009 | vitalstocks | 0 comments | Continued(SON) Sonoco Products Co Goes Green with “Blue”
This week, Sonoco Products Co. (SON ) announced the official launch of True Blue, a new umbrella brand for solutions and recycling services that have met stringent sustainability requirements. To qualify for the Sonoco True Blue program, the company says that a package must offer...
24Sep2009 | vitalstocks | 0 comments | ContinuedMoney Won’t Solve This Problem – Money IS The Problem
As the G20 summit in Pittsburgh gets underway, a new report has highlighted the extent of the problems that global leaders face. What’s more, this problem can’t be solved by simply tossing money at it. In fact, money is the problem. A group called Transparency International...
24Sep2009 | InvestmentU | 0 comments | Continued