Archive for October, 2009
(SKM) SK Telecom & Bell Labs in Post-4G Pact
South Korea’s largest wireless carrier SK Telecom (SKM) has reportedly inked an agreement with Bell Laboratories, Inc. to jointly pursue research and development in next-generation telecommunication technologies including the development of post-4G wireless technologies. Bell...
20Oct2009 | vitalstocks | 0 comments | Continued(MDT) Medtronic Starts Erectile Dysfunction Drug-Eluting Device Study
Medtronic, Inc. (MDT) recently started a feasibility study of an interventional treatment for erectile dysfunction (ED) using a specially designed drug-eluting stent system. The study is known as ZEN (Zotarolimus-Eluting Peripheral Stent System for the Treatment of Erectile Dysfunction...
20Oct2009 | vitalstocks | 0 comments | Continued(NVS) FDA Delays Novartis AG Treatment
Recently, Novartis AG (NVS) announced that it has received a Complete Response Letter (CRL) for QAB149 (indacaterol) ? a bronchodilator for the treatment of adults suffering from chronic obstructive pulmonary disease (COPD) ? from the US Food and Drug Administration (FDA). The...
20Oct2009 | vitalstocks | 0 comments | Continued(GCI) Gannett Company Beats Consensus Estimates
Gannett Co. Inc. (GCI), the largest newspaper publisher in the U.S., recently reported third-quarter 2009 results. Despite a faltering economy and decline in print advertising revenue, the company’s earnings topped expectations, buoyed by effective cost-cutting measures, lower...
20Oct2009 | vitalstocks | 0 comments | Continued(BAX) Baxter International Eyes Swine Flu Market
Baxter International Inc. (BAX) announced that it sees multiyear opportunity in H1N1 vaccines, commonly known as Swine Flu vaccines. The company expects to recognize $30 million to $40 million in revenues from swine flu vaccines in the fourth quarter. Baxter has not speculated...
20Oct2009 | vitalstocks | 0 comments | Continued(CNXT) Conexant Systems Completes Stock Offering
Conexant Systems Inc. (CNXT) recently announced that Oppenheimer & Co. Inc, the underwriter for its recently concluded public offering of 7,000,000 shares, exercised its option to purchase an additional 1,050,000 shares. As a result of this exercise, Conexant was able to...
20Oct2009 | vitalstocks | 0 comments | Continued(AVT) Avnet Expands in China
Avnet, Inc. (AVT) recently announced that it has acquired a controlling interest in Vanda Group from Hutchinson Whampoa Limited in a strategic move to expand its presence and customer base across China. Vanda Group will operate as an Avnet company while maintaining its current...
20Oct2009 | vitalstocks | 0 comments | Continued(AAPL) Apple Reports 2nd Highest Growth Ever
Fourth-Quarter Results Beat Apple Inc. (AAPL) fourth-quarter beat the Zacks Consensus Estimate of $1.43 in earnings per share and $9.19 billion in revenue. Earnings in the quarter were $1.82 per share, which also surpassed the company’s own guidance. This increased 44% from...
20Oct2009 | vitalstocks | 0 comments | Continued(BIIB) Biogen Extends Hostile Bid For Facet Biotech Corporation
Biogen Idec Inc. (BIIB) extended its tender offer for the acquisition of all of the outstanding shares of Facet Biotech Corporation (FACT) to December 16, 2009. The offer was previously set to expire on October 19, 2009. As of October 15, 2009, about 28,336 shares of Facet Biotech...
20Oct2009 | vitalstocks | 0 comments | Continued(C) Citigroup May Need to Sell Off Mexican Subsidiary Banamex
Citigroup Inc. (C) could be compelled to sell its profitable and highly rated Mexican subsidiary Banamex due to a probe expected this week by Mexico’s Supreme Court. A group of senators has objected that Citigroup’s Mexican subsidiary is in breach of national law since the...
20Oct2009 | vitalstocks | 0 comments | Continued(BSX) Boston Scientific Corporation Surpasses Estimates
Boston Scientific Corporation (BSX) yesterday reported financial results for the third quarter of fiscal 2009 after the market close. Earnings per share were 19 cents, beating the Zacks Consensus Estimate by 5 cents and the year-ago earnings by 3 cents. Sales Net sales in the...
20Oct2009 | vitalstocks | 0 comments | Continued(BJRI) Restaurant Industry – Industry Outlook
The Restaurant Industry has been facing extremely tough challenges due to the ongoing economic turmoil. With rising unemployment and lower discretionary spending, we believe it will be too early to predict improvement in the industry, which is grappling with sluggish consumer...
20Oct2009 | vitalstocks | 0 comments | Continued(HAS) Hasbro Surpasses Consensus Earnings Estimates
Hasbro Inc.’s (HAS) third quarter earnings of 99 cents per share were well ahead of the Zacks Consensus Estimate of 91 cents, reflecting a drop in costs and demand for its movie-based toys. The company had earned 89 cents per share in the year-ago period. Net revenues for the...
19Oct2009 | vitalstocks | 0 comments | Continued(CAG) ConAgra Foods Reduces Sodium in its Food Products
Last week, ConAgra Foods Inc. (CAG) announced that it would reduce salt by 20% across its portfolio of food products by 2015. Since 2006, the company has already removed more than 2 million pounds of salt from it products. The company’s commitment builds on ConAgra Foods’...
19Oct2009 | vitalstocks | 0 comments | Continued(ITT) ITT Corporation Gets U.S. Army’s Research Development & Engineering Command Orders
ITT Corporation (ITT) has been awarded a $19.3 million order from the U.S. Army’s Research Development & Engineering Command Acquisition Center under the OMNI VII contract for AN/PVS-14 night vision monocular devices. Eighty percent of these goggles are required by...
19Oct2009 | vitalstocks | 0 comments | Continued(AFAM) Almost Family Inc. – Low PEG Ratio of 0.56
Almost Family, Inc. (AFAM) continues to quietly beat estimates and grow revenues. Third quarter estimates have risen in the last 30 days. Almost Family provides home health nursing, rehabilitation and personal care services. It has surprised on estimates 7 quarters in a row and...
19Oct2009 | vitalstocks | 0 comments | Continued(ALLI) Allion Healthcare to be Acquired by H.I.G. Capital
Recently, Allion Healthcare Inc. (ALLI) inked a deal with an affiliate of H.I.G. Capital, LLC, a leading global private investment firm, whereby it agreed to be acquired by the private company. The deal is worth approximately $278 million. The amount is inclusive of the assumption...
19Oct2009 | vitalstocks | 0 comments | Continued(GS) The Goldman Sachs Group Inc. – Trades at a Valuation Below Overall Market
The Goldman Sachs Group Inc. (GS) posted better than expected 3rd-quarter results on Oct 15 that were driven by strength in fixed-income trading, helping to offset weakness in investment banking. 3rd-Quarter Results Revenue was up 10% from last quarter and more than double last...
19Oct2009 | vitalstocks | 0 comments | Continued(CYTX) Cytori Therapeutics – Bull of the Day
We continue to be very positive on Cytori Therapeutics (CYTX) and believe the company’s Celution System, a better mousetrap for quickly and efficiently harvesting adult stem cells, will see sales ramp significantly over the next few years. Sales of the system have been...
19Oct2009 | vitalstocks | 0 comments | Continued(RRGB) Red Robin Gourmet Burgers – Bear of the Day
Red Robin Gourmet Burgers Inc. (RRGB) is vulnerable to economic headwinds, and we believe that the stock will continue to underperform the restaurant industry. Impeding the growth is its sagging same-store sales and declining traffic counts. The company’s second-quarter...
19Oct2009 | vitalstocks | 0 comments | Continued(SMLC) 012 Smile.Communications, Ltd. – Nearly Doubled the Returns of the S&P 500
012 Smile.Communications (SMLC) is up sharply over the past 3 months on solid earnings and estimate revisions. Revenue Up On Aug 12 the company reported a 10% increase in revenues to $74 million. Net income more than tripled to $6.6 million, or 26 cents per share. A 14% growth...
19Oct2009 | vitalstocks | 0 comments | Continued(NEU) NewMarket Corporation – Upward Estimate Revisions by Analysts
NewMarket Corporation (NEU) continues to see upward revisions of the Zacks Consensus Estimate. The current full-year earnings forecast of $8.64 per share is an increase from the $8.14 projection analysts were calling for in late September, when NEU was previously featured as...
19Oct2009 | vitalstocks | 0 comments | Continued($BHI) Marginal Slip in Active U.S. Oil and Gas Drilling Rig Count
In its weekly release on Friday, Baker Hughes Inc. (BHI) reported a slight dip in the number of rigs searching for oil and gas in the U.S., as producers restricted their drilling activities in response to the current supply overhang in the natural gas market. The number of units...
19Oct2009 | vitalstocks | 0 comments | Continued(XTO) Natural Gas Storage at New All-Time High
Last Thursday, we received a mildly bearish report from the federal government’s Energy Information Administration [EIA], showing a higher-than-expected rise in natural gas supplies. Stockpiles held in underground storage in the lower 48 states rose by 58 billion cubic feet...
19Oct2009 | vitalstocks | 0 comments | Continued(CVBF) FDIC Makes it 99 U.S. Bank Failures Reach in 2009
U.S. bank failures continue unabated as U.S. regulators on Friday closed down San Joaquin Bank of Bakersfield, CA. This takes the total number of failed federally insured banks to 99 in 2009, compared to 25 in 2008 and 3 in 2007. As of September 29, San Joaquin Bank, a subsidiary...
19Oct2009 | vitalstocks | 0 comments | Continued(BBT) BB&T Corporation Reports in Line – Down Significantly Year-Over-Year
BB&T Corporation’s (BBT) third quarter earnings of 23 cents per share were in line with the Zacks Consensus Estimate. However, this compares unfavorably with earnings of 65 cents in the year-ago quarter. The year-over-year decrease in earnings was due primarily to a 94.8%...
19Oct2009 | vitalstocks | 0 comments | Continued(LFL) LAN Airlines S.A. Sees Traffic Grow 11.9% Year-Over-Year
Earlier this month, LAN Airlines S.A. (LFL) and its subsidiaries released its preliminary monthly traffic statistics and punctuality indicators for September. Passenger traffic rose 11.9% year over year while capacity jumped 9.3%. Its load factor increased 1.8 points to 78.8%. International...
17Oct2009 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial Reports Earnings In-Line
People’s United Financial Inc.’s (PBCT) third quarter earnings of 8 cents per share were in line with the Zacks Consensus Estimate. While quarterly results benefited from growth in core loan portfolios and deposits, the company’s credit quality continued to deteriorate....
17Oct2009 | vitalstocks | 0 comments | Continued(UFPI) Universal Forest Products’ Earnings Do Well Despite Construction Downturn
Universal Forest Products, Inc. (UFPI) yesterday announced its third quarter results. Net earnings were $10.1 million, compared to a loss of $2.0 million in the prior-year quarter. Earnings per share stood at 51 cents versus a loss of 10 cents in the same period a year ago. The...
17Oct2009 | vitalstocks | 0 comments | Continued(REP) Repsol YPF S.A. Confirms Gas in Venezuela
Following the test on recently found gas resource in the shallow waters of the Gulf of Venezuela, Repsol YPF S.A. (REP) confirmed reserves of between 5.6 trillion and 7.8 trillion cubic feet of gas. With an estimated area of 33 square kilometers, it is the country’s largest...
17Oct2009 | vitalstocks | 0 comments | Continued