Archive for October, 2009
(VOXX) Audiovox Tops Earnings Consensus
For the second quarter of fiscal 2010, Audiovox Corp. (VOXX) reported net income of $2.8 million or earnings per share of 12 cents, compared to a net loss of $2.3 million or a loss per share of 10 cents in the corresponding prior-year period. This exceeded the Zacks Consensus...
16Oct2009 | vitalstocks | 0 comments | Continued(BVF) Biovail Corporation Continues with Pimavanserin
Biovail Corporation (BVF) recently provided an update on its development plans for pimavanserin for Parkinson’s disease psychosis (PDP). The company is developing the candidate in collaboration with Acadia Pharmaceuticals, Inc. (ACAD) and stated that the partners remain committed...
16Oct2009 | vitalstocks | 0 comments | Continued(MTG) MGIC Investment Corporation’s Earnings Preview
MGIC Investment Corporation (MTG) is expected to release third quarter results on Oct 15. The Zacks Consensus Estimate for the company is a loss of $1.64 per share. The company’s financial results have been adversely impacted by increased delinquencies, which are occurring...
16Oct2009 | vitalstocks | 0 comments | Continued(PGR) Progressive Corporation Surpasses Estimates
Progressive Corp.’s (PGR) third quarter earnings of 40 cents per share were 7 pennies ahead of the Zacks Consensus Estimate of 33 cents. Investment gains coupled with increase in premiums written have contributed to this result. Also, provisions for income taxes were reduced...
16Oct2009 | vitalstocks | 0 comments | Continued(GWW) W.W. Grainger Beats Estimates – Focuses on Growth
W.W. Grainger, Inc. (GWW) reported third-quarter EPS of $1.88 per share. This includes a one-time gain of 37 cents per share from the step-up of its investment in MonotaRO Co. Ltd. after Grainger became a majority owner in September. Excluding the one-time gain, Grainger’s...
16Oct2009 | vitalstocks | 0 comments | Continued(CYCL) Centennial Communications Beats Forecast on Lower Cost
Regional telecom operator Centennial Communications (CYCL) reported results for the first quarter of fiscal year 2010 with earnings per share [EPS] of 17 cents exceeding the Zacks Consensus Estimate of 15 cents and the year-ago EPS of 7 cents. The company reported net income...
16Oct2009 | vitalstocks | 0 comments | Continued(LLTC) Linear Technology Tops Forecasts – Guidance Conservative
Linear Technology’s (LLTC) first quarter earnings beat the Zacks consensus by 2 cents. Revenue beat the consensus by 9.4%. We currently expect the entire peer group Incorporatedluding Maxim Integrated Products (MXIM), Intersil Corporation (ISIL) and Semtech (SMTC) to report...
16Oct2009 | vitalstocks | 0 comments | Continued(DPZ) Domino’s Pizza Beats Consensus Estimates
Domino’s Pizza (DPZ), one of the leading pizza delivery chains, recently reported better-than-expected third quarter results. Despite a high-single digit fall in the top-line, the company was able to achieve high-double digit rise in the bottom-line on the back of effective...
16Oct2009 | vitalstocks | 0 comments | Continued(NOK) Nokia Enters Netbook Market
Nokia Corp. (NOK) yesterday announced its sales and distribution plan for its first netbook called “Booklet 3G”. The U.S. retailer Best Buy Co. Inc. (BBY) will sell this netbook (mini laptop) for $299.99 together with AT&T’s (T) 3G data plan of $60 per month for...
16Oct2009 | vitalstocks | 0 comments | Continued(NVS) Novartis Pharma AG Gains Rights to Fanapt
Yesterday, Novartis Pharma AG (NVS) signed an agreement with Vanda Pharmaceuticals Inc. for the acquisition of exclusive US and Canadian rights to Fanapt (iloperidone), an oral medication that is approved by the US Food and Drug Administration (FDA) for the acute treatment of...
16Oct2009 | vitalstocks | 0 comments | Continued(CY) Cypress Semiconductor Corporation Beats – Guidance Modest
Cypress Semiconductor Corporation’s (CY) third quarter earnings beat the consensus by 7 cents. Revenue Revenue for the quarter was $178.7 million, up 14.7% sequentially and down 19.7% year over year. The Consumer and Computation (CCD) and Memory and Imaging Division (MID)...
16Oct2009 | vitalstocks | 0 comments | Continued(F) Federal Reserve’s Economic Outlook Decoded
The minutes of the Federal Reserve meeting held in late September were released today. Below we present the economic outlook section of the minutes, along with my comments and interpretation of them. In general, they paint a picture of an economy that is starting to recover,...
16Oct2009 | vitalstocks | 0 comments | Continued(T) AT&T Expands Small Business Reach
AT&T Inc. (T), the second largest US wireless carrier, announced the availability of netbooks and laptops from Dell Inc. (DELL) for small businesses. Customers from small businesses across the US now have access to these premium devices that exclusively use AT&T’s...
16Oct2009 | vitalstocks | 0 comments | Continued(BEXP) Top Performer for Fri: Brigham Exploration
Brigham Exploration Company (BEXP) announced results for one of its wells in the Bakken Shale today, prompting a 7% gain in its share price and securing a spot on the Zacks #1 Rank Top Performers List. In addition to this company-specific news, BEXP is also getting a hand...
16Oct2009 | vitalstocks | 0 comments | Continued(JEC) Jacobs Engineering Group Wins Railroad Contract
Jacobs Engineering Group Inc. (JEC) yesterday signed a contract with Amtrak, the National Railroad Passenger Corporation. According to the contract, the company will provide program management and construction management services for more than 100 infrastructure improvement projects...
16Oct2009 | vitalstocks | 0 comments | Continued(EPD) Enterprise Products Partners Raises Cash Dividend Distribution
Enterprise Products Partners L.P. (EPD) yesterday declared an increase in the quarterly cash distribution rate paid to partners to 55.25 cents per common unit, or $2.21 per unit on an annualized basis. Previously, the quarterly dividend totaled 52.25 cents, representing an increase...
16Oct2009 | vitalstocks | 0 comments | Continued($IBM) IBM Exceeds Estimates & Raises Outlook
International Business Machine’s (IBM) third-quarter 2009 earnings exceeded the Zacks Consensus Estimate by one cent. As a result of expense management, net profit improved by 14% to $3.2 billion, while earnings per share rose 18% to $2.40 per share. This compares to a profit...
16Oct2009 | vitalstocks | 0 comments | Continued(LCC) US Airways Accused by the Federal Aviation Administration of Violating Safety Checks
The Federal Aviation Administration [FAA] on Wednesday accused US Airways (LCC) for operating eight airplanes last year without conducting the mandatory safety checks. The FAA has proposed a penalty of $5.4 million against US Airways. FAA documents allege that US Airways sanctioned...
16Oct2009 | vitalstocks | 0 comments | Continued(SUN) Energy Information Administration Reports Big Drop in Fuel Stocks
Yesterday, the U.S. Energy Department’s weekly inventory release showed a less-than-expected build in crude stockpiles. However, the headline news was centered on a sharp drop in gasoline stocks and refinery utilization that pushed oil prices to a fresh 2009 peak and lifted...
16Oct2009 | vitalstocks | 0 comments | Continued(AMD) Advanced Micro Devices Results Approach Breakeven
Advanced Micro Devices (AMD) announced stronger third quarter earnings that nevertheless missed the Zacks Consensus Estimate by 10 cents. This excludes 28 cents per share for one-time licensing revenue, 10 cents for a gain on the repurchase of debt and 2 cents for stock based...
16Oct2009 | vitalstocks | 0 comments | Continued(MDRX) Medical Devices – Industry Outlook
The global medical devices industry is fairly large and is valued at roughly $223 billion, with the U.S. accounting for approximately 41%. The industry is divided into different categories such as Cardiology, Oncology, Neuro, Orthopedic, Aesthetic Devices and Healthcare IT. In...
16Oct2009 | vitalstocks | 0 comments | Continued(FCX) Industrial Production Capacity Utilization Improves
In September, total Industrial Production rose by 0.7% from August — its third straight monthly increase after a string where it was down 17 of 18 months. Total Capacity Utilization also climbed to 70.5%, up from an upwardly revised 69.9% (originally 69.6%) in August. While...
16Oct2009 | vitalstocks | 0 comments | Continued(USM) US Cellular to Rollout BlackBerry Tour?
US Cellular (USM), the wireless subsidiary of Telephone and Data Systems (TDS), is poised to market Research In Motion’s (RIMM) latest CDMA smartphone BlackBerry Tour 9630. The company has already revealed detailed specification of the device on its product page and has...
16Oct2009 | vitalstocks | 0 comments | Continued(TWC) Time Warner Cable Launches WiMAX
Time Warner Cable Inc (TWC) will launch the 4G WiMAX mobile broadband services in three North Carolina markets from Dec 1. The WiMAX connection will offer wireless data transmission at speeds five times faster than the 3G connections currently provided by the company. Under the...
16Oct2009 | vitalstocks | 0 comments | Continued(GE) General Electric Company Acquires Stake in Start-up
Tendril, the developer of the first integrated software/hardware platform to enable real-time, two-way communications between utilities/retailers and their customers on energy supply and consumption, is broadening its smart grid relationship with General Electric Company (GE)...
16Oct2009 | vitalstocks | 0 comments | Continued(LUB) Luby’s In-Line with Consensus Estimates
Luby’s, Inc. (LUB), the casual dining restaurant operator, recently reported fourth-quarter 2009 results. The company reported quarterly loss of 20 cents a share compared to a loss of 13 cents reported in the prior-year quarter. The loss per share was in-line with the Zacks...
16Oct2009 | vitalstocks | 0 comments | Continued(MNI) McClatchy Company Beats on Cost Cutting
Amid the secular and cyclical slowdown in print advertising, McClatchy Company (MNI), the third largest newspaper company in the U.S. and the publisher of 30 daily newspapers including the Miami Herald and Sacramento Bee, reported third-quarter 2009 results. McClatchy is facing...
16Oct2009 | vitalstocks | 0 comments | Continued(ABT) Two Pharmas Are Better Than One – Here Are the Ones to Buy in This Merger-Mad Industry
Tony Daltorio, Investment U Research Pharmaceutical companies have launched themselves into the fall season with a vengeance, gobbling up acquisitions like dots on a Pac-Man board. The most notable recent buyout was a deal that sees Abbott Laboratories (NYSE: ABT) expand...
16Oct2009 | InvestmentU | 0 comments | Continued(ACS) Affiliated Computer Services to Hire Personnel
In order to boost growth in business process outsourcing [BPO] services, Affiliated Computer Services Inc. (ACS) plans to hire 120 employees at its Houston call center. The company also plans to hire approximately 150 people at its Raleigh call center in addition to the 465 additional...
15Oct2009 | vitalstocks | 0 comments | Continued(BAX) Baxter International Beats Earnings, Raises Outlook
Baxter International Inc. (BAX) today reported third quarter fiscal 2009 earnings per share of 98 cents, surpassing the Zacks Consensus Estimate of 97 cents and the year-ago earnings of 88 cents. The company also raised its outlook for full fiscal 2009. Sales Net sales in the...
15Oct2009 | vitalstocks | 0 comments | Continued