Archive for September, 2009
(STJ) St. Jude Medical Receives FDA Approval
St. Jude Medical, Inc. (STJ) received U.S. Food and Drug Administration (FDA) clearance for the launch of its EnSite Velocity Cardiac Mapping System. The system helps physicians more efficiently diagnose and guide therapy to treat abnormal heart rhythms. The EnSite Velocity Cardiac...
16Sep2009 | vitalstocks | 0 comments | Continued(MDT) Integra LifeSciences Holdings Buys Bankrupt Rival
Yesterday, Integra LifeSciences Holdings Corp. (IART) announced that it purchased almost all the assets of implant maker Innovative Spinal Technologies Inc. through a court approved auction for $9.25 million in cash. The acquired company, which dealt with spinal implant products...
16Sep2009 | vitalstocks | 0 comments | Continued(C) Citigroup Raises $5 Billion from Bonds
On Tuesday, two units of Citigroup Inc. (C) — Citibank NA and Citigroup Funding Inc. — jointly sold $5.0 billion of debt in three parts. The notes are guaranteed by the Federal Deposit Insurance Corporation (FDIC) under the Temporary Liquidity Guarantee Program (TLGP). Citibank...
16Sep2009 | vitalstocks | 0 comments | Continued(AXP) American Express Diversifies Funding
On Monday, American Express Co. (AXP) launched a new line of certificates of deposit (CD) in order to diversify its funding sources as the financial crisis has tightened overall lending. The saving lines are available in a range of maturities from three months to five years....
16Sep2009 | vitalstocks | 0 comments | Continued(BAX) Baxter International Fails to Deliver Swine Flu Vaccine
Baxter International Inc. (BAX) has failed to deliver on its pledge to the U.K. government to supply required quantities of swine flu vaccine, Celvapan. The company has supplied only half of the 400,000 doses of Celvapan it had agreed to supply by the end of Aug 2009. Britain’s...
16Sep2009 | vitalstocks | 0 comments | Continued(CUZ) Cousins Properties Inc to Record Charge in Q3
Real estate investment trust Cousins Properties Inc. (CUZ) recently said it would record an impairment charge of $39 million, or 74 cents per share, in the third quarter relating to its joint venture interest in Terminus 200. This 565,000 square feet office building in Atlanta,...
16Sep2009 | vitalstocks | 0 comments | Continued(DLM) Del Monte Foods Company Upped to Outperform
Del Monte Foods Company (DLM) engages in the production, distribution and marketing of branded food and pet products for the retail market in the United States. The company has benefited from many of its strategies and initiatives taken during fiscal 2009. Del Monte implemented...
16Sep2009 | vitalstocks | 0 comments | Continued(GENZ) Genzyme’s Multiple Sclerosis Drug Shows Promise
On Friday, Genzyme Corp. (GENZ) presented encouraging four-year follow-up phase II data on alemtuzumab, which is being developed for the treatment of multiple sclerosis (MS). Results showed durable reductions in relapse rate and sustained accumulation of disability even three...
16Sep2009 | vitalstocks | 0 comments | Continued(SNY) FDA Approves First H1N1 Vaccine
In a major achievement towards vaccinating people against the H1N1 virus, yesterday the US Food and Drug Administration (FDA) approved the long anticipated new “swine flu” vaccine. The approval is for four pharmaceutical companies — Sanofi Pasteur, the vaccine...
16Sep2009 | vitalstocks | 0 comments | Continued(THRX) Theravance Earns FDA Approval for Skin Infection Drug
In a quantum achievement, Theravance (THRX) received approval from the US Food and Drug Administration (FDA) to market its Vibativ (telavancin) for complicated skin and skin structure infections (cSSSI) caused by Gram-positive bacteria. Vibativ, jointly developed with Japan’s...
16Sep2009 | vitalstocks | 0 comments | Continued(BAC) Bank of America to De-TARP in Installments
The Chief Financial Officer (CFO) of Bank of America Corporation (BAC) said Tuesday that the bank is expected to repay the bailout money it has received from the government in relation to its participation in the Troubled Asset Relief Program (TARP) in installments. The government...
16Sep2009 | vitalstocks | 0 comments | Continued(CME) CME Group Launches Petroleum-Gas Contracts
On Friday, CME Group Inc. (CME) launched trading and clearing services for eight new petroleum products and nine natural gas liquids (NGL) futures contracts. While trading will be available on the New York trading floor, the clearing services will be available through CME ClearPort. ClearPort...
15Sep2009 | vitalstocks | 0 comments | Continued(GWW) No Improvement in W.W. Grainger Inc’s Top-line
W.W. Grainger Inc.’s (GWW) sales for the month of August were down 13% compared to last year. This was slightly narrower compared to the 14% decline in July. The company continues to witness weak demand in all its end-markets and geographies. The economic slowdown is driving...
15Sep2009 | vitalstocks | 0 comments | Continued(VLO) Valero Energy – Bear of the Day
We reiterate our Underperform rating for Valero (VLO) shares as a combination of weak demand, excess production capacity and narrowing crude quality spreads are expected to weigh on near-term margins. In addition to the near-term margin issues, commissioning of new refineries...
15Sep2009 | vitalstocks | 0 comments | Continued(SNP) Sinopec’s New Pipeline Operational
China’s largest refiner and marketer of refined petroleum products – China Petroleum and Chemical Corp. (SNP), also known as Sinopec – recently announced that it has started the operation of a pipeline in southwestern China. It is a 323-kilometer oil products pipeline,...
15Sep2009 | vitalstocks | 0 comments | Continued(GSS) How To Turn Ordinary Profits Into “Xcelerated” Profits
by Karim Rahemtulla, Advisory Panelist Most of the time, we’re no fans of Wall Street analysts. They’re often behind-the curve, biased, and flat out wrong. But sometimes, we make exceptions – especially when their over-zealous attitude causes a stock to blast higher...
15Sep2009 | InvestmentU | 0 comments | Continued(DRI) Darden Restaurants Finds Secure Footing
Fitch recently revised its outlook on Darden Restaurants Inc. (DRI) to “Stable” from “Negative”. The rating agency believes that the company is well positioned in the casual dining segment, which is still recuperating from the economic turmoil, plagued...
15Sep2009 | vitalstocks | 0 comments | Continued(REP) Repsol YPF S.A. Strikes Gold in Venezuela
Repsol YPF S.A. (REP) recently found a huge gas resource in shallow waters of the Gulf of Venezuela. The largest integrated oil and gas company in Spain said that the offshore field had an estimated area of 33 square kilometers and was 60 meters deep. Along with its exploration...
15Sep2009 | vitalstocks | 0 comments | Continued(ALL) Allstate Resolves Discrimination Lawsuit
Last week, the Equal Employment Opportunity Commission (EEOC) in St. Louis said that Allstate Corp. (ALL) had agreed to pay $4.5 million to certain former employees to settle an age-discrimination lawsuit. A reorganization of the company in 1999 had turned thousands of Allstate...
15Sep2009 | vitalstocks | 0 comments | Continued(HWD) Harry Winston Diamond Corp Q2 Loss Much Wider Than Forecasted
Harry Winston Diamond Corp. (HWD) recently reported a second-quarter net loss of $24.5 million, or 32 cents per share, on sluggish sales and foreign exchange loss. This compares with a net profit of $49.9 million, or 81 cents, in the year-ago period. Quarterly performance was...
15Sep2009 | vitalstocks | 0 comments | Continued(LANC) Lancaster Colony – Beat Estimates by 33%
Lancaster Colony Corp. (LANC) recently announced great year-end results and shares are surging on the news. Company Description Lancaster makes a variety of products in 3 general areas: home goods, specialty foods, and automotive. However the company has been transitioning out...
15Sep2009 | vitalstocks | 0 comments | Continued(CASY) Casey’s General Stores Inc. – Record Fiscal First Quarter
Casey’s General Stores Inc. (CASY) saw same store sales rise 6.4% in the fiscal first quarter thanks to better gasoline margins. The company has surprised on estimates 2 out of the last 4 quarters by an average of 17.50%. CASY is trading with a forward P/E of 14.42. Company...
15Sep2009 | vitalstocks | 0 comments | Continued(FMX) Fomento SAB – Bull of the Day
We are reiterating our recommendation on Fomento (FMX) shares given its relative immunity from the global economic downturn. Being a producer of a low-cost, daily use product, and focused on domestic markets, FMX is less exposed to the global economic downturn. We are also optimistic...
15Sep2009 | vitalstocks | 0 comments | Continued(PVH) Phillips-Van Heusen Corporation – Analysts Very Bullish
Phillips-Van Heusen Corp. (PVH) posted second-quarter results in mid-August. Earnings per share of 60 cents came in slightly below last year’s 66 cents but topped the Zack Consensus Estimate by 36%. Revenue of $529.3 million slipped by 1% year-over-year. Company Description Phillips-Van...
15Sep2009 | vitalstocks | 0 comments | Continued(GIB) CGI Group, Inc. – Considerable Progress in Paying Down Most of its Debt
CGI Group, Inc. (GIB) reported better than expected third-quarter results in late July, adding that it had paid down its debt to just $15 million from almost $300 million earlier in the year. Company Description CGI Group, Inc., through its subsidiaries, provides information...
15Sep2009 | vitalstocks | 0 comments | Continued(PBR) Oil & Gas Industry – Zacks Analyst Interviews
The emerging positive narrative of a favorable outlook for the U.S. economy has done wonders for the markets, particularly equities and commodities. The broad equity markets as well as most commodity groups are up smartly from their early-March lows. Crude oil’s gains have...
15Sep2009 | vitalstocks | 0 comments | Continued(PBR) Top Non-US Equity Funds – Mutual Fund Commentary
Today we are featuring top-performing “Non-US” equity mutual funds, which primarily invest in equity securities of companies located outside the United States. Investors can find such funds by checking out the entire list of the Zacks #1 Rank Non-US Equity Funds. 3 Great...
15Sep2009 | vitalstocks | 0 comments | Continued($C) Citigroup Mulls Lowered Government Stake
Top-level management at Citigroup Inc. (C) is conceiving plans to downsize the U.S. government’s 34% stake in the company through a multibillion-dollar stock offering. Under the plan, Citigroup would issue new shares to the public and the Treasury Department would sell...
15Sep2009 | vitalstocks | 0 comments | Continued(EK) Eastman Kodak Company Runs Faster
Yesterday, The Eastman Kodak Company (EK) introduced two new members of its family of innovative retail photo center solutions that provide consumers with a superior and more environmental conscious experience in retail photo centers: the KODAK Picture Kiosk G4XE Order Station...
15Sep2009 | vitalstocks | 0 comments | Continued(ITC) Cognex Corporation Settles Patent Dispute
Cognex Corporation (CGNX) recently announced that it has settled its dispute with Multitest Elektronische Systeme GmbH and its U.S. subsidiary. The dispute was regarding Multitest’s importation and sale of equipment containing HALCON machine vision software. Headquartered in...
15Sep2009 | vitalstocks | 0 comments | Continued