Archive for October, 2009
(ETR) Entergy Trims Third Quarter Outlook
Entergy Corporation (ETR) earlier today announced that it expects GAAP earnings and operational earnings to be approximately $2.31 per share and $2.39 per share, respectively, in the third quarter of 2009. This is low compared to the year-ago GAAP numbers of $2.41 per share and...
16Oct2009 | vitalstocks | 0 comments | Continued(F) Ford & United Auto Workers Reach Tentative Deal
Ford Motor Co. (F) has finally reached a tentative national agreement with 250 leaders of the United Auto Workers (UAW) on modifications to its 2007 labor contract. The deal, which runs until 2011, will help Ford end its cost disadvantage while securing jobs for the union workers...
16Oct2009 | vitalstocks | 0 comments | Continued(APC) Anadarko Petroleum Corporation’s West African Drilling Update
Anadarko Petroleum Corporation (APC) today drilled another appraisal well – Mahogany-4 well – in the West Cape Three Points Block offshore Ghana, in the eastern part of Jubilee field. The well witnessed more than 140 net feet of predominately oil pay in high-quality,...
16Oct2009 | vitalstocks | 0 comments | Continued(STZ) Constellation Brands Consolidates Distribution
Constellation Brands Inc. (STZ), the world’s leading wine company, has signed a multiyear distribution agreement with Young’s Market Co. and its affiliates (Young’s) as the company’s exclusive distributor in Alaska, Washington and Oregon. Young’s, a recognized market...
16Oct2009 | vitalstocks | 0 comments | Continued(SHLD) Sears Holdings Corporation’s Crusade for Fire Safety
Sears Holdings Corp. (SHLD), the fourth largest broadline retailer in the U.S., has teamed up with Farmers Insurance Group of Companies, the country’s third-largest homeowners’ insurance company, First Alert, the world’s largest manufacturer of smoke alarms, and Firefacts.org,...
16Oct2009 | vitalstocks | 0 comments | Continued(C) Citigroup Reports Earnings in Line – Results Hurt
Citigroup’s (C) third quarter 2009 loss from continuing operations of 23 cents per share was in line with the Zacks Consensus Estimate. This compares favorably with a net loss of 72 cents in the prior-year quarter. Results for the quarter included $8 billion in net credit...
16Oct2009 | vitalstocks | 0 comments | Continued(HAL) Halliburton Company Wins Talisman Energy Deal
Yesterday, oilfield service provider Halliburton Company (HAL) announced the receipt of a two-year, $229 million contract from the Norwegian subsidiary of Talisman Energy Inc (TLM). The deal calls for Halliburton to provide drilling fluids and related services to all Talisman-operated...
16Oct2009 | vitalstocks | 0 comments | Continued(SMTC) Semtech Corporation – Bull of the Day
Semtech Corporation (SMTC) is a fabless supplier of analog and mixed-signal semiconductor devices. Management has been diversifying the product portfolio, introducing new high-margin products and broadening the customer base. July quarter results exceeded the consensus on both...
16Oct2009 | vitalstocks | 0 comments | Continued(MYL) Mylan Settles Dispute with Pfizer
Recently, Mylan (MYL) announced the settlement of its dispute with Pfizer (PFE) related to the patent of antifungal drug Vfend (voriconazole). Now Mylan can launch an authorized generic version of the drug in two dosage forms of 50 mg and 200 mg tablets in early 2011. Mylan’s...
16Oct2009 | vitalstocks | 0 comments | Continued(GE) General Electric Company Beats Consensus Estimates
General Electric Company (GE) reported earnings per share of 22 cents for the third quarter of 2009, beating the Zacks Consensus Estimate of 20 cents. The reported earnings include the effect of 5 cents per share in restructuring and other charges, down 51% from the third quarter...
16Oct2009 | vitalstocks | 0 comments | Continued(TGT) Target Corporation – Value-Oriented Consumer Approach
Target Corp. (TGT) is jumping higher as the company benefits from its value oriented consumer approach and a resurgence in consumer confidence. Company Description Target operates as a general merchandise and food discount store in the united States. The company was founded in...
16Oct2009 | vitalstocks | 0 comments | Continued(WFC) Wells Fargo & Company Cedes $75M Facility to Marlin Business Services
Wells Fargo & Company (WFC) rendered a $75 million 3-year committed funding facility to Marlin Receivables Corp., an affiliate of Marlin Business Services Corp. (MRLN). Marlin Receivables intends to use the facility fund its growth, with an aim to extend increased flexible...
16Oct2009 | vitalstocks | 0 comments | Continued(RPM) RPM International Inc. – Beats Consensus Estimates
RPM Intl. Inc. (RPM) surprised analysts by posting sequential sales growth and estimates are on the rise. Company Description RPM owns subsidiaries that provide industrial and consumer coatings and sealants. The weekend warriors might recognize brand names like Rust-Oleum and...
16Oct2009 | vitalstocks | 0 comments | Continued(APH) Amphenol Corporation Beats Estimates
Amphenol Corporation (APH) yesterday reported sales of $716.6 million in the third quarter of 2009, down 17% from a year ago but up 5% sequentially, which surpassed management’s guidance range of $670 million – $685 million. The sequential growth in revenues was attributed...
16Oct2009 | vitalstocks | 0 comments | Continued(SXL) Sunoco Logistics Partners L.P. Fairly Priced
Philadelphia-based Sunoco Logistics Partners L.P. (SXL) is a master limited partnership [MLP] that acquires, owns, and operates a geographically diverse portfolio of refined product and crude oil pipelines and terminal facilities. Sunoco Logistics reported solid second-quarter...
16Oct2009 | vitalstocks | 0 comments | Continued(BHI) Baker Hughes Incorporated-BJ Services Company: More Info Sought
Earlier today, Baker Hughes Incorporated (BHI) and BJ Services Company (BJS) received a request from the Antitrust Division of the Department of Justice for additional information (commonly known as a second request) regarding their proposed merger. Both companies intend to comply...
16Oct2009 | vitalstocks | 0 comments | Continued(CASY) Casey’s General Stores – Bullish Forecasts and Strong Momentum
Casey’s General Stores Inc. (CASY) saw fiscal first-quarter earnings of 87 cents per share, exceeding the Zacks Consensus Estimate by 45% and topping the year-prior total. The company also declared a dividend of $0.085 per share, which translates into a an industry-leading...
16Oct2009 | vitalstocks | 0 comments | Continued(GOOG) Google Earnings Stun the Market
Google Inc. (GOOG) reported third quarter results that blew away all estimates. Earnings beat the Zacks Consensus Estimate by a dollar and 20 cents. Revenue beat the consensus by around 40%. Revenue Gross revenue of $5.94 billion was up 7.6% sequentially and 7.3% year over year....
16Oct2009 | vitalstocks | 0 comments | Continued(GPC) Genuine Parts Company’ Profits Dip 18%
Genuine Parts Company (GPC) reported an 18% drop in profits to $108 million in the third quarter from $131 million in the prior-year quarter. On an earnings per share [EPS] basis, profit of 67 cents was above the Zacks Consensus Estimate of 65 cents. Nevertheless, it was lower...
16Oct2009 | vitalstocks | 0 comments | Continued(CBS) CBS Corporation Re-affirms Operating Guidance
CBS Corporation (CBS), the media conglomerate, recently asserted that it still expects its full year 2009 operating income before depreciation and amortization (OIBDA) in the range of $1.725 billion to $1.925 billion. The uptrend seen in the second-quarter 2009 revenue has made...
16Oct2009 | vitalstocks | 0 comments | Continued(HAL) Halliburton Net Falls but Tops View
Earlier today, Halliburton Company (HAL) – one of the largest oilfield service providers in the world – reported better–than-anticipated third-quarter results, benefiting from its balanced global portfolio and broad spectrum of industry-leading services, especially in key...
16Oct2009 | vitalstocks | 0 comments | Continued(CHINA) CDC Software Corp’s License Revenue to Drop
CDC Software Corp (CDCS), a wholly owned subsidiary of CDC Corp. (CHINA) said that it expects a decline in its license revenue. The company expects software license revenue to fall in the range of $7.4 – $7.6 million in the third quarter of 2009. The mid-point of the range...
16Oct2009 | vitalstocks | 0 comments | Continued(SCHW) Charles Schwab Misses Forecasts by a Penny
Charles Schwab Corporation’s (SCHW) third quarter earnings of 17 cents per share were only a penny short of the Zacks Consensus Estimate. However, this compares unfavorably with earnings of 26 cents per share in the year-ago quarter. The year-over-year decrease in earnings...
16Oct2009 | vitalstocks | 0 comments | Continued(RAVN) Raven’s Aerostar International Wins T-11 Contract
Aerostar International, Inc., a wholly owned subsidiary of Raven Industries, Inc. (RAVN), has been awarded $12.2 million under a five-year, IDIQ (indefinite delivery indefinite quantity) contract for the production of US Army T-11 personnel parachutes. The company expects the...
16Oct2009 | vitalstocks | 0 comments | Continued(PKX) POSCO Earnings Results Disappoint
POSCO (PKX) saw a 22.3% decline in third-quarter revenues to KRW6,851 billion from KRW8,813 billion in the corresponding quarter last year. Operating income declined 48.7% year over year, while net profit was down 6.3%. The decline in the company’s profit was primarily driven...
16Oct2009 | vitalstocks | 0 comments | Continued(PFE) Pfizer Completes Purchase of Wyeth
The deal between Pfizer Inc. (PFE) and Wyeth was completed yesterday after the receipt of final regulatory approvals. Wyeth will cease to trade as an independent entity from today. Under the terms of the deal, Wyeth shareholders will receive $33 cash (without interest) and 0.985...
16Oct2009 | vitalstocks | 0 comments | Continued(AIG) American International Group Bonuses in Question
According to an overseer’s report released on Tuesday, the U.S. Treasury Department is pressing the bailed out insurer American International Group Inc. (AIG) to reduce $198 million in scheduled retention payments after the government missed the opportunity to defend against...
16Oct2009 | vitalstocks | 0 comments | Continued(BLL) Ball Corporation Sheds Extra Assets
Yesterday, metal and plastic packaging manufacturer, Ball Corporation (BLL), announced the sale of its plastic pail assets to BWAY Corporation (BWY) for approximately $32 million. The sale, which is expected to close by the end of October, primarily involves the sale of a pail...
16Oct2009 | vitalstocks | 0 comments | Continued(KR) Cash for Clunkers – The Hangover
In September, total retail sales fell by 1.5% sequentially (seasonally adjusted). This almost totally reverses the 2.2% gain for August. On a year-over-year basis, total retail sales were down 5.7% — a slight improvement from the 5.8% year-over-year decline in August (remember...
16Oct2009 | vitalstocks | 0 comments | Continued(WFT) Weatherford International Ltd Grows Overseas
Ahead of the third quarter results, we are keeping our Neutral rating for Weatherford International Ltd (WFT) shares. This reflects the company’s sound position in the current tentative outlook for the North American market, given its growing presence in the relatively stable...
16Oct2009 | vitalstocks | 0 comments | Continued