Archive for September, 2009
(WDC) Western Digital Hits Better Than Expected Q2 Earnings, Sending Estimates Higher
Western Digital Corp. (WDC) is selling more hard drives than it did last year and holding revenue steady, helping the company produce better than expected Q2 earnings and sending estimates higher. Company Description Western Digital Corp. designs and manufactures hard drives...
2Sep2009 | vitalstocks | 0 comments | Continued(GME) GameStop Corp.- Bear of the Day
The video game industry, which surged ahead for a number of years, is now grappling with the recession. Heavy job losses and reduced access to credit markets have led to lower discretionary spending. This has resulted in lower demand for video game consoles and new software....
2Sep2009 | vitalstocks | 0 comments | Continued(DOX) Amdocs, Ltd.- Bull of the Day
We maintain our Outperform recommendation for Amdocs (DOX) following its strong results for the fiscal third quarter of fiscal 2009. The company has industry-leading technology integration products for large transformational projects and managed services. Long-term fundamentals...
2Sep2009 | vitalstocks | 0 comments | Continued(TM) Cash for Clunkers Pushes Automakers to First Gain in 2 Years
The U.S. auto industry showed a 1% sales gain to produce 1.3 million vehicles in August. It was the first annual sales gain since October 2007. Sales of cars and light trucks surged 30% compared to July. The spike in sales was solely attributed to the Cash for Clunkers program...
2Sep2009 | vitalstocks | 0 comments | Continued(VAL) Valspar Corporation Beats & Raises
Paint and coatings maker Valspar Corporation (VAL) recently reported a 38% y-o-y increase in net earnings to 61 cents per share in the third quarter of fiscal 2009, helped by cost-cutting efforts. Excluding one-time costs for restructuring and other items, Valspar earned 67 cents...
2Sep2009 | vitalstocks | 0 comments | Continued(ADCT) ADC Dips on Weak Outlook
Yesterday, ADC Telecommunications Inc. (ADCT) declared third-quarter results after market close. Total revenue rose 3% sequentially to $283.4 million but was down 25.8% year over year. Quarterly revenue was also 1.2% better than the Zacks Consensus Estimate. The significant drop...
2Sep2009 | vitalstocks | 0 comments | Continued(ADP) Jobs Report Worse than Expected
This morning, ADP (ADP), the nation’s largest payroll processing firm, released its estimate of job losses in August. They came in at a decline of 298,000 jobs for the private sector. This is significantly worse than the consensus expectations of a decline of 250,000. There...
2Sep2009 | vitalstocks | 0 comments | Continued(WFC) Wells Fargo Looks for TARP Exit
On Tuesday, Wells Fargo & Company (WFC) announced its plans to repay government bailout money in the near future without raising fresh capital, in order to protect shareholders’ interest. Wells Fargo remains confident that it will be able to generate the capital internally...
2Sep2009 | vitalstocks | 0 comments | Continued(WFC) Pull Back Continues Through Mixed News
Ouch, I think is one of the best ways to think about the last few days of trading. Since Friday, the S&P 500 (.INX) has lost almost 4%. Concerns over real recovery prospects and actual economic growth have started catching up with the recent rally. We talked about a blow...
2Sep2009 | InvestmentU | 0 comments | Continued(ALU) Alcatel Offers Convertible Bonds
Alcatel-Lucent (ALU) recently offered 750 million Euros ($1.07 billion) convertible bonds maturing in 2015, which may be increased by as much as 15% for an over-allotment option. The principal purpose of the offering is to refinance debt, extend its maturity and enhance the...
2Sep2009 | vitalstocks | 0 comments | Continued(PC) Panasonic Still Awaits Regulatory Approval to Aquire SANYO Electric Co
Panasonic Corp. (PC), one of the leading manufacturers of electronic and electrical products, systems and components, recently said that it is still waiting for regulatory approval for acquiring SANYO Electric Co Ltd. (SANYY). Panasonic entered into a capital and business alliance...
2Sep2009 | vitalstocks | 0 comments | Continued($PAY) VeriFone Report Doubles Consensus Estimates
VeriFone Holdings Inc. (PAY) yesterday reported revenues of $211.2 million for the third quarter. Revenues were down 18.4% year over year but up 4.7% sequentially. Revenues from Asia were strong in particular, posting a 74% sequential growth. However, revenues from Latin America...
2Sep2009 | vitalstocks | 0 comments | Continued(BNHNA) Benihana Misses Earnings Estimates
Benihana Inc. (BNHNA), the operator of Benihana Teppanyaki, Haru and RA Sushi restaurant concepts, recently reported its fiscal first quarter results with a low single-digit rise in the top line but a sharp double-digit fall in the bottom line. Results were adversely affected...
2Sep2009 | vitalstocks | 0 comments | Continued(ARRS) Arris Fortifies Digital Video Foothold
Yesterday, Arris Group Inc. (ARRS) said it acquired patents and video processing technology for digital network from EG Technology Inc. Arris will take over the privately held company’s four encoding products, Encore, Quartet, VIPr Transcoder and HEMi Edge. Although financial...
2Sep2009 | vitalstocks | 0 comments | Continued(F) Getting More Productive
We are starting to see many signs that the overall economy is beginning to climb out of the recession; for example, the 52.9 reading from the ISM yesterday. But the one area that has yet to see any real improvement is in the jobs market. Well, if output is starting to go up but...
2Sep2009 | vitalstocks | 0 comments | Continued(GE) General Electric and Rolls-Royce Keep Pushing for Alternative F-35 Engines
General Electric Co. (GE) and Rolls-Royce Group are gathering support for the second F-35 engine program, which Defense Secretary Robert Gates and President Barack Obama have singled out as unnecessary in the tightening credit environment. Representatives of the two companies...
2Sep2009 | vitalstocks | 0 comments | Continued(EBAY) eBay Slumps After Selling Skype
Shares of eBay (EBAY) slid 4.8% yesterday morning and failed to recover momentum after the company sold a majority interest in Internet calling services provider Skype. A group of investors, with the largest being private equity firm Silver Lake, bought the 65% stake for $1.9...
2Sep2009 | vitalstocks | 0 comments | Continued(DHR) Danaher Expands in Life Sciences
Earlier today, Danaher Corp. (DHR) announced its decision to acquire the Analytical Technologies division of MDS Inc. (MDZ). This includes a 50% stake in Applied Biosystems/MDS Sciex joint venture (AB SCIEX), and a 100% ownership in the former Molecular Devices Corp. The company...
2Sep2009 | vitalstocks | 0 comments | Continued(DOW) Dow Chemical Sells Refinery in Netherlands
Dow Chemical Co. (DOW) completed the sale of its Netherlands-based crude oil refinery to Paris-based Total SA (TOT), one of the six major global oil companies, for about $800 million. The refinery is a key supplier of refined products Incorporatedluding diesel, to the European...
2Sep2009 | vitalstocks | 0 comments | Continued(ADP) It’s the Lack of Job Creation, Stupid!
With the release of the Automatic Data Processing (ADP) numbers this morning and the BLS jobs report due out on Friday (and initial claims tomorrow), jobs — or the lack of them — is clearly front and center. Normally when people talk about job losses or gains, they...
2Sep2009 | vitalstocks | 0 comments | Continued(VNO) Vornado Realty Trust Sells Property in Washinton DC
Vornado Realty Trust (VNO), a leading real estate investment trust (REIT), recently announced the sale of an office property in the CBD of Washington DC. However, Vornado will continue to manage the property on behalf of the new owner. The property spanning 25,000 square feet...
2Sep2009 | vitalstocks | 0 comments | Continued(BMY) Bristol-Myers Squibb Completes Acquisition
Bristol-Myers Squibb Co. (BMY) yesterday announced the completion of the $2.4 billion acquisition of Medarex, Inc. Following the completion of the deal, Medarex has become a wholly-owned subsidiary of Bristol-Myers. The deal was funded by Bristol-Myers from available cash. The...
2Sep2009 | vitalstocks | 0 comments | Continued(AAPL) Apple Expected to Debut New iPods
Apple Inc. (AAPL) is expected to unveil a new line up of iPod portable music players for the holiday period when it will hold a special media event in San Francisco on Sept 9. Apple declined to name the products. It is widely believed that Apple will use the event to announce...
2Sep2009 | vitalstocks | 0 comments | Continued(CENX) Century Aluminum Sells Alumina, Bauxite Stake
Century Aluminum Co. (CENX) recently sold its 50% joint venture interest in Gramercy Alumina LLC and St. Ann Bauxite Ltd. to Noranda Aluminum Holding Corp. In 2004, Century and Noranda formed a 50-50 partnership while acquiring Gramercy and St. Ann from Kaiser Aluminum and Chemical...
2Sep2009 | vitalstocks | 0 comments | Continued(DB) Deutsche Bank to Redeem Oil Exchange-Traded Notes
Deutsche Bank AG (DB) yesterday announced that it will redeem all of its most bullish oil exchange-traded notes (ETNs), as the U.S. government plans to set stricter regulations in the commodities markets. Deutsche said it would redeem outstanding PowerShares DB Crude Oil Double...
2Sep2009 | vitalstocks | 0 comments | Continued(TM) Toyota Steps Up U.S. Factory Output
Toyota Motor (TM) has released its plan to raise production in the U.S. for its pickup trucks as well as fuel-efficient cars by the end of 2009. A recovery in the housing sector and an immense demand generated by the Cash for Clunkers program are the key factors behind the increase...
2Sep2009 | vitalstocks | 0 comments | Continued(UFS) We Energies Plans Biomass Plant
We Energies plans to build a 50 megawatts biomass-fueled power plant at Rothschild, Wisconsin paper mill site of Domtar Corp. (UFS). Early next year, the utility will apply to the Public Service Commission of Wisconsin for necessary permits. The project will cost around $250...
2Sep2009 | vitalstocks | 0 comments | Continued(IP) Purchasing Managers Index Shows Expansion
The Institute of Supply Management’s (ISM) Purchasing Managers Index, a closely watched gauge of manufacturing activity, rose to 52.9 in August from 48.9 in June. It was also well above the 50.5 consensus expectations. With this index, 50 is the magic number that separates...
1Sep2009 | vitalstocks | 0 comments | Continued(JNJ) Johnson & Johnson’s Cypress Study Enrollment Begins
Yesterday, Johnson & Johnson (JNJ) announced the initiation of enrollment in the Cypress study (CYPherR for Evaluating Sustained Safety), which is designed to assess clinical outcomes in a wide range of patients suffering from coronary artery disease and taking dual anti-platelet...
1Sep2009 | vitalstocks | 0 comments | Continued(DT) Deutsche Telekom AG’s T-Mobile and Sierra Wireless Form Joint Venture
Deutsche Telekom AG’s (DT) T-Mobile unit and Sierra Wireless (SWIR) recently agreed to form a joint venture to provide machine-to-machine (M2M) wireless communications in several markets. Initially, this business venture will target European markets, with special emphasis...
1Sep2009 | vitalstocks | 0 comments | Continued