Archive for October, 2009
(MWV) MeadWestvaco Sells Specialty Papers Business Assets
Packaging solution provider MeadWestvaco Corp. (MWV) recently agreed to sell its Specialty Papers business in South Lee, Massachusetts, to Onyx Specialty Papers Inc. The sale is expected to close in early December. The company said that it will fully exit the Specialty Papers...
16Oct2009 | vitalstocks | 0 comments | Continued(CSIQ) Canadian Solar on Recovery Path
Canadian Solar Inc. (CSIQ) yesterday raised its fiscal 2009 guidance. The company now expects shipments for the third quarter to surpass the high end of its prior guidance. The optimism stems from a high level of interest in Canadian Solar’s products at the Hamburg trade...
16Oct2009 | vitalstocks | 0 comments | Continued(RAS) RAIT Financial Trust Expands Advisory Services
RAIT Financial Trust (RAS), a real estate investment trust (REIT), has recently expanded the operations of RAIT Securities LLC that offers commercial real estate advisory services to a host of clients. The range of services currently offered by RAIT Securities include strategic...
16Oct2009 | vitalstocks | 0 comments | Continued(DDS) Dillard’s Reports Weak Comparables
Dillard’s Inc. (DDS), a large departmental store chain, yesterday reported a 9% year-over-year decline in total sales for the month of September, which amounted to $568 million. Consolidated comparable store sales also declined 6% in contrast to last year. Sales were slightly...
16Oct2009 | vitalstocks | 0 comments | Continued(GR) Goodrich Corporation Boosts Dividend
The Board of Directors of Goodrich Corp. (GR) yesterday announced an 8% dividend increase to 27 cents per share from the current dividend of 25 cents per share on the company’s common stock. The dividend is payable Jan 4, 2010 to shareholders of record as of Dec 1, 2009. The...
16Oct2009 | vitalstocks | 0 comments | Continued(NYT) The New York Times Company Cancels Boston Globe Sale
The New York Times Company (NYT) shed its plan to sell the Boston Globe after effective cost-cutting measures and an increase in price led to an improved financial position. The company’s series of steps included labor contract concessions expected to cut $20 million yearly...
16Oct2009 | vitalstocks | 0 comments | Continued(PPG) PPG Industries Earnings Improve
Global paints and coatings supplier PPG Industries (PPG) reported third quarter earnings of $161 million or 96 cents, better than the Zacks Consensus Estimate of 89 cents. Although earnings were down 29% year on year, results improved considerably sequentially on cost reduction....
16Oct2009 | vitalstocks | 0 comments | Continued(FISV) Fiserv Incorporated Renews Contracts
Fiserv, Inc., (FISV) recently announced that it has renewed contracts with 217 credit union account processing clients in the first eight months of 2009. Fiserv holds 32% market share for account processing among U.S. credit unions. The company had earlier launched a new global...
16Oct2009 | vitalstocks | 0 comments | Continued($CBSH) Commerce Bancshares Beats Earnings Estimates Again
Commerce Bancshares Inc. (CBSH) today reported its third quarter 2009 earnings at $51.6 million or 66 cents per diluted share, compared to $37.0 million or 48 cents per diluted share in the prior quarter and $24.7 million or 32 cents per diluted share in the prior-year quarter. The...
16Oct2009 | vitalstocks | 0 comments | Continued(XLNX) Earnings Preview for Xilinx
Xilinx Inc. (XLNX) is expected to report its second quarter results later today. Last month, the company had upgraded its guidance for the quarter. It expects quarterly sales to be up approximately 10% sequentially due to the broad based strength across all end markets and geographical...
16Oct2009 | vitalstocks | 0 comments | Continued(HPQ) Affordable PCs from Hewlett-Packard Company
A press release from Hewlett-Packard Company (HPQ) reveals that the company is introducing new Compaq PCs at an affordable price, targeted at domestic customers and small businesses. Compaq PCs come cheaper than the HP branded PCs, so they become the ideal choice for small and...
16Oct2009 | vitalstocks | 0 comments | Continued(TSON) TranS1 Trims Third Quarter Outlook
TranS1 Inc. (TSON) has announced that it expects revenues to be approximately $6.8 million to $6.9 million in the third quarter of 2009 compared to $6 million reported in the year-ago quarter. Results for the quarter are expected to be released on Oct 29, 2009. While revenues...
16Oct2009 | vitalstocks | 0 comments | Continued(COV) Covidien Limited – Earnings Surprise Streak Broken
Covidien Limited (COV) has surprised on estimates 3 out of the last 4 quarters. The company also recently raised its dividend. Covidien is trading at 13.6x forward earnings. Company Description Covidien manufactures medical devices, medical supplies and imaging solutions. It...
16Oct2009 | vitalstocks | 0 comments | Continued(BA) Boeing Downgraded by Moody’s Investor Services
Moody’s Investor Services (MCO) has downgraded Boeing Co.’s (BA) rating outlook to “negative” from “stable”. The major reason for the downgrade was the delay in the airplane maker’s new 787 series, besides other setbacks that had hurt its financial...
16Oct2009 | vitalstocks | 0 comments | Continued(SGMO) Sangamo Biosciences – Bull of the Day
Sangamo Biosciences, Inc. (SGMO) uses a proprietary ZFP gene regulation technology to discover and develop a new class of therapeutic candidates for diabetic neuropathy, cardiovascular disease, cancer and immune diseases. We are optimistic about this novel technology. SB-509...
16Oct2009 | vitalstocks | 0 comments | Continued(MHP) Bloomberg Wins BusinessWeek Magazine
After several rounds of bids by various private equity firms and publishers, Bloomberg ultimately emerged as the winner in the race to acquire struggling BusinessWeek magazine. The terms of the transaction, which is expected to close by the end of this year, were not disclosed....
16Oct2009 | vitalstocks | 0 comments | Continued(E) Eni SpA Wins Contract in Iraqi Oil Field
A consortium, led by Eni SpA (E) was awarded the license to develop the giant Zubair oil field in Iraq. Eni, which is the operator, will have a participation of 40% in the consortium, subject to adjustments. The other members include Occidental Petroleum Corp. (OXY) and Korea...
16Oct2009 | vitalstocks | 0 comments | Continued($MRK) Merck Extends Galapagos Alliance
The existing alliance between Merck (MRK) and Belgian biotech company Galapagos over metabolic diseases was recently expanded to develop new therapies for atherosclerosis, or hardening of arteries due to cholesterol build-up. Following the deal, Galapagos will be eligible to...
16Oct2009 | vitalstocks | 0 comments | Continued(WYNN) Positive Outlook for Wynn Resorts Ltd.
On Monday, Fitch Ratings raised its outlook for Wynn Resorts Ltd. (WYNN) to positive from stable subsequent to the completion of the company’s Hong Kong initial public offering (IPO) for its Macau unit. The ratings also include an improved operating outlook following the relaxation...
16Oct2009 | vitalstocks | 0 comments | Continued(MAT) Mattel Incorporated Reports Earnings Almost in Line
Mattel Incorporated’s (MAT) third quarter earnings of 63 cents per share were just a penny short of the Zacks Consensus Estimate of 64 cents. The company had earned 65 cents in the year-ago period. Quarterly results continued to reflect the economic weakness and lack of any...
16Oct2009 | vitalstocks | 0 comments | Continued(HAS) Hasbro Incorporated Earnings Preview
Hasbro Inc. (HAS) is expected to release its third quarter results on Oct 19. The Zacks Consensus Estimate is pegged at 91 cents per share. The company had reported earnings of 89 cents per share in the year-ago period. Hasbro’s second quarter results of 26 cents per share...
16Oct2009 | vitalstocks | 0 comments | Continued(RRC) Range Resources Corporation Ahead on Shale Plays
Range Resources Corporation (RRC) on Wednesday provided its third quarter production results. Total volumes were 437 MMcfe (millions of cubic feet equivalent) per day, up 13% year over year. Despite selling its Fuhrman Mascho Field (production of 15 MMcfe per day) in West Texas...
16Oct2009 | vitalstocks | 0 comments | Continued($F) Ford China Posts Staggering Sales
Ford Motor (F) has revealed that its sales in China have shot up 79% to 119,338 vehicles in the third quarter of the year. The growth has vaulted an overall sales increase of 78% to 1.33 million vehicles across China . This was driven by China ’s economic policies to spur auto...
16Oct2009 | vitalstocks | 0 comments | Continued(FHN) First Horizon National Corporation Outdoes Estimates
First Horizon National Corporation (FHN) reported third quarter net loss of 24 cents, better than the Zacks Consensus Estimate of a loss of 34 cents. Net loss improved to $52.9 million in the quarter, compared to $125.1 million last year, primarily due to a decrease in provision...
16Oct2009 | vitalstocks | 0 comments | Continued(SEPR) Top Small-Cap Equity Funds – Mutual Fund Commentary
Today we are featuring top-performing “Small-Cap” equity mutual funds, which primarily invest in equity securities of companies that have market capitalizations of less than $2 billion. Investors can find such funds by checking out the entire list of the Zacks #1 Rank...
16Oct2009 | vitalstocks | 0 comments | Continued(SNPS) Synopsys Increases Portfolio
Leading software and semiconductor IP design company Synopsys Inc. (SNPS) recently introduced the Synphony HLS (High Level Synthesis) solution that combines M-language and model-based synthesis, enabling the delivery of around ten times higher design and verification productivity...
16Oct2009 | vitalstocks | 0 comments | Continued($PVH) Phillips-Van Heusen Corporation – Bullish Forecasts and Strong Momentum
Phillips-Van Heusen Corp. (PVH) is seeing bullish forecasts. Analysts polled by Zacks are calling for earnings of $2.46 per share. Last month, the Zacks Consensus Estimate stood at $2.43 and was pegged at $2.31 two months ago. Company Description Phillips-Van Heusen Corp is a...
16Oct2009 | vitalstocks | 0 comments | Continued(CBST) Cubist Pharmaceuticals Beats Earnings Estimates
Cubist Pharmaceuticals, Inc. (CBST) reported a third-quarter net income of 65 cents per share, which was much higher than the Zacks Consensus Estimate of 33 cents. The company’s net income was 48 cents per share in the year-ago quarter. The higher profit in the quarter was...
16Oct2009 | vitalstocks | 0 comments | Continued(HOG) Harley-Davidson Fails to Meet Estimates
Harley-Davidson (HOG) disappointed in its third quarter results, posting a net income of $26.5 million or 11 cents per share compared to the Zacks Consensus Estimate of 22 cents per share. Compared to the year-ago quarter, net income tumbled 84% from $166.5 million and earnings...
16Oct2009 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services – Profits Blow Past Estimates
Discover Financial Services (DFS) continues to surge and is now up almost 100% over the past 6 months, about 5 times the return of its peers. Company Description Discover Financial Services is best known for operating the Discover Card. The company also runs the pulse ATM/debit...
16Oct2009 | vitalstocks | 0 comments | Continued