Archive for September, 2009
(MRK) Merck Updates Migraine Drug Status
Yesterday, Merck (MRK) updated the status of two of its pipeline candidates, both used to treat migraine. While the company abandoned MK-3207, it will continue to develop telcagepant (MK-0974). Although MK-3207 was found to be effective, it caused liver abnormalities in some...
11Sep2009 | vitalstocks | 0 comments | Continued(TAM) TAM Ropes In Wal-Mart, Ipiranga
Earlier this week, TAM S.A. (TAM) formed a partnership with Ipiranga and Wal-Mart Store Inc. (WMT) for its loyalty program network Multiplus Fidelidade. Ipiranga and Wal-Mart have customer loyalty and affiliation programs called Km de Vantagens and Bomclube, respectively. Other...
11Sep2009 | vitalstocks | 0 comments | Continued(NRP) Natural Resource Partners Secures Coal Reserves
Of late, Natural Resource Partners (NRP) has contracted with Colt LLC, a Cline Group affiliate, to acquire around 200 million tons of coal reserves located at the Deer Run mine in Illinois Basin. The deal is valued at $255 million and will be executed through 8 separate transactions...
11Sep2009 | vitalstocks | 0 comments | Continued(BP) BP Plc Breezes Out of India
Oil major BP Plc (BP) plans to scale back its wind power business in India. The company is in the process of divesting its entire portfolio of wind-power assets in the country. India’s largest infrastructure-focused private equity fund – IDFC Private Equity – is buying...
11Sep2009 | vitalstocks | 0 comments | Continued(SWKS) Skyworks Also Raises Guidance
Skyworks Solutions Inc. (SWKS) yesterday raised its guidance for the fourth quarter of fiscal 2009, driven by broad-based improvements in order demand. Massachusetts-based Skyworks designs, manufactures and markets a broad range of high-performance analog and mixed signal semiconductors...
11Sep2009 | vitalstocks | 0 comments | Continued(SEH) Spartech Corporation Posts Lackluster Q3
Spartech Corp. (SEH) recently posted lackluster third-quarter results as recessionary conditions affected demand for its products. The company stated that GAAP net income plunged 66% year over year to $1.5 million. Excluding restructuring charges, earnings per share came in...
11Sep2009 | vitalstocks | 0 comments | Continued(RTN) Raytheon Missiles Head East
Raytheon Co. (RTN) bagged a $77 million contract from the US Air Force for building missiles for Korea and Taiwan. According to terms of the contract, the company will produce AGM-65D and AGM-65G2 infrared-guided Maverick air-to-surface missiles for the two Asian nations. Raytheon...
11Sep2009 | vitalstocks | 0 comments | Continued(KG) ZymoGenetic’s Arthritis Drug Disappoints
Yesterday, ZymoGenetics Inc (ZGEN) announced that its rheumatoid arthritis drug Atacicept, failed to reach its goal of controlling the disease in mid-stage studies. The data did not support a direct move to late-stage trials. However, the study confirmed the biological effect...
11Sep2009 | vitalstocks | 0 comments | Continued(SNE) Weak Numbers for Gaming Industry
August 2009 data on video game sales reveal disappointing results. Market research company NPD Group recently came out with data on the gaming industry which indicates that sales of gaming software declined by 15% in August 2009 compared to the same period last year. This was...
11Sep2009 | vitalstocks | 0 comments | Continued(JNJ) FDA Delays Johnson & Johnson’s Cancer Drug
We are disappointed with the delay in the approval of Johnson & Johnson’s (JNJ) injectable drug Yondelis (trabectedin). The company is seeking the US Food and Drug Administration (FDA) approval to use Yondelis in combination with its cancer drug Doxil (doxorubicin HCl liposome...
11Sep2009 | vitalstocks | 0 comments | Continued(FTR) Frontier Communications Appeals for Federal Funding
Rural telecom operator Frontier Communications Corp. (FTR) reportedly submitted two applications for federal funding to expand its broadband network in West Virginia. The company has asked for a total of $55 million through Broadband Initiatives Program and Broadband Technology...
11Sep2009 | vitalstocks | 0 comments | Continued(WRB) WR Berkley Corporation Sells Notes
WR Berkley Corporation (WRB) sold $300 million of senior notes on Wednesday. This was an increase from the $250 million planned originally. Interest will be payable on the notes on Mar 15 and Sep 15 every year. The first interest payment will be made on Mar 15, 2010. The notes...
11Sep2009 | vitalstocks | 0 comments | Continued(CNMD) Conmed Corporation Recalls Products
Conmed Corporation (CNMD) has recently started the process of recalling certain products due to manufacturing defects. Products affected are PRO5 and PRO6 series battery handpieces manufactured before May 31, 2008. Also affected are certain lots of the MC5057 Universal Cable...
11Sep2009 | vitalstocks | 0 comments | Continued(AMB) AMB Property Corporation Leases Property in Mexico
AMB Property Corporation (AMB), a leading real estate investment trust (REIT), has recently signed a leasing agreement for approximately 178,000 square feet in Mexico. The deal was signed with Summa Company, a premier food distribution and sales company. The leased facility at...
11Sep2009 | vitalstocks | 0 comments | Continued(SON) Sonoco Products Company Closes Another Plant
Sonoco Products Company (SON) plans to close its rigid paper packaging plant in Orrville, Ohio by March 2010. The plant, which was acquired in 2007, manufactures fiber cartridges for adhesives and sealants, and currently employs 84 employees. The first phase of the plant’s...
11Sep2009 | vitalstocks | 0 comments | Continued(PLL) Russian Helicopters Chooses Pall Corporation
Pall Corp. (PLL) recently agreed with Russian Helicopters JSC to provide Centrisep air cleaner filters for Mil Mi-8 and Mi-17 civil transport helicopters. Russian Helicopters is one of the largest helicopter producers in the world. The company’s Mil Mi-8 is the aerospace industry’s...
11Sep2009 | vitalstocks | 0 comments | ContinuedThe Paradox of Thrift: How a Better Savings Rate is Fueling the Recession
by David Fessler, Advisory Panelist We’ve all heard this from our parents: “Spend what’s left after saving, instead of saving what’s left after spending.” Or perhaps this was drummed into your head: “Always save for a rainy day.” The idea of saving didn’t just...
11Sep2009 | InvestmentU | 0 comments | Continued(UBS) Moody’s Under SEC Axe
Swiss banking giant UBS AG (UBS) was recently ordered to pledge its assets or provide bonds worth $35 million by Judge John Blawie at Connecticut Superior Court. The unfavorable order came as a blow after reports claimed that top credit ratings agencies had committed a securities...
11Sep2009 | vitalstocks | 0 comments | Continued(MET) MetLife Issues Fixed Rate Notes
On Sep 10, 2009, Metropolitan Life Global Funding I, a unit of MetLife Inc (MET) announced the sale of fixed-rate funding agreement-backed notes in the 144a private placement market worth $1 billion. The size of the deal represents a 100% increase from the originally planned...
11Sep2009 | vitalstocks | 0 comments | Continued(S) Sprint Nextel Goes Unlimited on Mobile
Third-largest US carrier Sprint Nextel (S) yesterday unveiled a ground-breaking unlimited calling plan for its mobile customers, which enables cell phones users to make or receive unlimited calls from the company’s network to any other US carrier network any time using any...
11Sep2009 | vitalstocks | 0 comments | Continued(FDX) FedEx Preannouncement Beats Consensus
Shares of FedEx Corp. (FDX) have jumped more than 5% so far today after the company preannounced fiscal first-quarter earnings, which topped Wall Street expectations. The package-delivery major said that it expects to post earnings of 58 cents per share, which is well above...
11Sep2009 | vitalstocks | 0 comments | Continued(SOHU) Sohu.com Cut to From Outperform to Neutral
We have downgraded Sohu.com Inc. (SOHU) from Outperform to Neutral as the stock faces near-term risks due to delay in game launches, intense competition and concerns related to online ad spending. Sohu is the third-largest internet portal and one of the most well-known online...
11Sep2009 | vitalstocks | 0 comments | Continued(SCHW) Top Aggressive Growth Equity Funds – Mutual Fund Commentary
Today we are featuring top-performing “Aggressive Growth” equity mutual funds, which primarily invest in higher-risk equity securities of companies in search of maximum growth. Investors can find such funds by checking out the entire list of the Zacks #1 Rank Aggressive...
11Sep2009 | vitalstocks | 0 comments | Continued(DDR) Developers Diversified Realty Corporation Appoints New Director
Developers Diversified Realty Corporation (DDR), a leading real estate investment trust (REIT), has recently appointed a new Director on its board following the resignation of Dean S. Adler. Adler has resigned from the board of the company citing personal reasons. In his place,...
11Sep2009 | vitalstocks | 0 comments | Continued(DE) Deere & Company Announces More Layoffs
Deere & Company (DE) announced its plans to lay off 367 employees at the John Deere Harvester Works in Illinois. The layoff is effective September 21. Also, most of the plant’s remaining employees will face a four-week inventory adjustment shutdown and a two-week vacation...
11Sep2009 | vitalstocks | 0 comments | Continued(DELL) Dell to Enter Electronic Medical Records Space
Dell Inc. (DELL) recently said it would venture into the electronic medical records system business, which is used by doctors and hospitals. The device helps in storing medical records in a way that makes it easy to track the clinical history of patients from anywhere in the...
11Sep2009 | vitalstocks | 0 comments | Continued(AN) AutoNation Boosts Vehicle Orders
AutoNation (AN) has increased vehicle orders in the fourth quarter of the year in an effort to restock showrooms that had been emptied out during the “Cash for Clunkers” program. The Florida-based largest automotive retailer in the U.S. has revealed that it has hiked...
11Sep2009 | vitalstocks | 0 comments | Continued(JPM) Economy Out of the Woods?
After almost a year of initiating the $700 billion Troubled Asset Relief Program (TARP), a lot has improved with respect to the economic crisis. Though the economy is in far better shape now than a year ago, there are persistent problems which need to be addressed by the government...
11Sep2009 | vitalstocks | 0 comments | Continued(MOT) Motorola Moves Into High-End Mobile Device Market
Struggling mobile phone developer Motorola Inc (MOT) unveiled yesterday its first high-end 3G smart-phone named “Motorola CLIQ.” Outside the U.S. this handset will be known as “Motorola DEXT.” The company will start shipment of these devices in the coming month. Motorola...
11Sep2009 | vitalstocks | 0 comments | Continued(CVX) U.S. Crude Supplies Dip Sharply
Yesterday, we got a bullish report from the federal government’s Energy Information Administration (EIA), showing a surprise decline in crude stockpiles. However, the data also showed a buildup in gasoline and distillate inventories, thereby somewhat neutralizing the positive...
11Sep2009 | vitalstocks | 0 comments | Continued