Archive for October, 2009
(PRX) Top Performer for Thurs: Par Pharmaceutical Companies
Par Pharmaceutical Companies, Inc. (PRX) received a brokerage firm upgrade today, which is helping it to gain during a rather muted morning session. In addition, PRX has been enjoying rising earnings estimates that have pushed the 2009 and 2010 Zacks Consensus Estimates higher...
15Oct2009 | vitalstocks | 0 comments | Continued(BAC) Initial Unemployment Claims Fall Again
New claims for unemployment insurance fell by 10,000 to 514,000, the lowest level since January. The four-week average of new claims fell by 9,000 to 531,500. The four-week average is now 127,250 below the peak set back in April. Both the size of the decline and the time...
15Oct2009 | vitalstocks | 0 comments | Continued(QCOM) Telecommunications Industry – Industry Outlook
The economic downturn has been weighing on the fortunes of companies in almost every industry Incorporatedluding telecommunications. The industry by definition encompasses a lot of technology-related businesses. Besides the traditional local and long-distance wireline telephone...
15Oct2009 | vitalstocks | 0 comments | Continued(AIG) U.S. Treasury’s Pay Czar Limits Troubled Asset Relief Program Recipients
The chairman of the House Oversight and Government Reform panel said on Wednesday that Congress will soon investigate executive compensation at companies that received significant amount of taxpayer funds. The U.S. Treasury’s pay czar, Kenneth Feinberg is in charge of deciding...
15Oct2009 | vitalstocks | 0 comments | Continued(T) US Department of Justice OKs AT&T-Centennial Communications Corp Merger
AT&T Inc’s (T) much anticipated acquisition of regional wireless and wireline service provider Centennial Communications Corp (CYCL), has progressed a step further as the US wireless giant has reportedly received a conditional approval of the US Department of Justice (“DOJ”). The...
15Oct2009 | vitalstocks | 0 comments | Continued(SLTM) Solta Medical’s Laser Device Approved by The FDA
After the closing bell on Wednesday, Solta Medical Inc. (SLTM) announced that the U.S. Food and Drug Administration (FDA) approved its device to clear pigmentation and other superficial skin conditions. The device, called the Fraxel re:store Dual Laser System, can be used both...
15Oct2009 | vitalstocks | 0 comments | Continued(AAPL) Price Target on Apple Gets Raised
Apple Inc. (AAPL) is set to release its earnings on Oct. 19. We expect the company to report strong results for the fourth quarter of fiscal 2009, and therefore raise our price target to $200. Apple has undergone a total turnaround. The first nine months of 2009 is evidence...
15Oct2009 | vitalstocks | 0 comments | Continued(SGP) Schering-Plough Corporation Inks Deal With Opko Health
Recently, Schering-Plough Corporation (SGP) and Opko Health Inc. (OPK) entered into a deal which would enable Opko to acquire the assets of Schering’s neurokinin-1 (NK-1) receptor antagonist program. The companies did not disclose the terms of the agreement. NK-1 receptors...
15Oct2009 | vitalstocks | 0 comments | Continued(KR) Consumer Price Index Inflation Appears to be Under Control
The Consumer Price Index, or CPI rose 0.2% in September, down from a 0.4% increase in August and down 1.3% from a year ago. If food and energy prices are stripped out to get to core inflation, prices also rose 0.2%, up from 0.1% in August. Core inflation is up 1.5% from a year...
15Oct2009 | vitalstocks | 0 comments | Continued(ASML) ASML Holding N.V. Reports Strong Quarter
ASML Holding N.V. (ASML) was the first of the capital equipment companies to report third quarter results. Judging from the 100.7% increase in revenue to €555.3 million, we feel more optimistic about Applied Materials (AMAT), KLA Tencor (KLAC), Lam Research (LRCX) and Tokyo...
15Oct2009 | vitalstocks | 0 comments | Continued(USB) U.S. Bancorp to Acquire a Part of BB&T
U.S. Bancorp (USB) has signed a deal with BB&T Corp. (BBT) to acquire the latter’s banking operations in Nevada . As per the agreement, U.S. Bank National Association, U.S. Bancorp’s lead bank, will purchase about $800 million in deposits and certain branches of BB&T’s...
15Oct2009 | vitalstocks | 0 comments | Continued($LUV) Southwest Airlines Beats on Lower Comps
Southwest Airlines (LUV) reported an operating income of 3 cents per share, ahead of the Zacks Consensus Estimate of 2 cents per share. This was lower than the profit of 9 cents per share in the prior-year quarter. Passenger revenues decreased 7.8% to $2.6 billion from $2.8 billion...
15Oct2009 | vitalstocks | 0 comments | Continued(SEPR) Dainippon-Sepracor Deal Emerges
Today, Dainippon Sumitomo and Sepracor (SEPR) have announced the successful completion of the initial share offering period, where almost 78.2% of Sepracor’s shares were tendered. The offer period has been extended to Oct 19, 2009, to enable other shareholders to tender their...
15Oct2009 | vitalstocks | 0 comments | Continued($GPS) Mixed Fortunes for Gap
Gap Inc. (GPS), a premier international specialty retailer, has reported a mixed bag of same-store sales in September with strong performance in the Old Navy division and relatively weaker ones in its other segments. Same-store sales measure sales at stores which have been open...
14Oct2009 | vitalstocks | 0 comments | Continued(BDK) Black & Decker Ups Earnings Guidance
Black & Decker Corporation (BDK) updated its third quarter earnings guidance yesterday. The company now expects third quarter EPS of 91 cents per shares, compared to the previous guidance range of 35 cents to 45 cents per share. Black & Decker attributed its guidance...
14Oct2009 | vitalstocks | 0 comments | Continued(AUXL) Auxilium Pharma Awaiting FDA Decision
Auxilium Pharma (AUXL) is currently awaiting a decision from the U.S. Food and Drug Administration (FDA) on its key pipeline candidate, Xiaflex, which is under FDA review for the treatment of Dupuytren’s Contracture. In September, Auxilium received a major boost in the form...
14Oct2009 | vitalstocks | 0 comments | Continued(CX) CEMEX, S.A. de C.V. is Developing Technology for Protecting the Environment
Earlier last week, cement maker CEMEX, S.A. de C.V. (CX), was selected by the U.S. Department of Energy (DOE) to develop technology for capturing and storing carbon dioxide emissions at one of Cemex’s U.S. cement plants. CEMEX will work with RTI International and others to...
14Oct2009 | vitalstocks | 0 comments | Continued(SO) Southern Company Plans Texas Biomass Plant
Last week, Southern Power – a subsidiary of electric utility company Southern Co. (SO) – announced its decision to build one of the country’s largest biomass power plants in eastern Sacul, Texas. Construction of the 100-megawatt plant is slated to commence this fall, with...
14Oct2009 | vitalstocks | 0 comments | Continued(CGNX) Cognex Buys Web Monitoring Product Line of Monitoring Technology Corporation
Cognex Corp. (CGNX) recently announced that it will acquire the web monitoring product line of Monitoring Technology Corp. (MTC) in a cash transaction. With this acquisition, Cognex plans to enter the web monitoring business. Machine Technology manufactures products for monitoring...
14Oct2009 | vitalstocks | 0 comments | Continued(AIG) American International Group to Sell Taiwan Life Unit
American International Group (AIG) said on Monday that it has decided to sell its stake of almost 98% in Taiwan life insurance unit Nan Shan Life Insurance Co. for about $2.2 billion to a group led by Hong Kong-based investment company Primus Financial Holdings. The Primus consortium,...
14Oct2009 | vitalstocks | 0 comments | Continued(MBT) Mobile TeleSystems Acquires Stake In Comstar-UTS
Mobile TeleSystems (MBT), Russia and Eastern Europe’s largest cellular operator, has reportedly acquired a 50.91% stake in Comstar-United TeleSystems (Comstar-UTS), a leading integrated telecommunication solution provider in Russia and the CIS. The incumbent Russian telecom...
14Oct2009 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell Inks New Contract for Nigerian Offshore Project
Royal Dutch Shell (RDSA) today said that it entered into an agreement with Italy-based Saipem S.p.A for the provision of few production facilities at one of its offshore projects in Nigeria. The agreement includes the provision of subsea crude oil flowlines and the installation...
14Oct2009 | vitalstocks | 0 comments | Continued(PLD) ProLogis Goes Strong in France
In a marked development signifying the probable redemption of investor confidence, ProLogis (PLD), one of the leading global providers of distribution facilities, has recently signed three leasing agreements in France, totaling 341,000 square feet. ProLogis leased 139,000 square...
14Oct2009 | vitalstocks | 0 comments | Continued(RF) Regions Financial Corporation Faces Class Action Lawsuit
Investors have filed a class action lawsuit against Regions Financial Corporation (RF) on charges that the bank had obtained shareholders’ approval for the 2006 acquisition of AmSouth Bancorp by misleading investors about its own financial condition. In November 2006, when...
14Oct2009 | vitalstocks | 0 comments | Continued(MWE) MarkWest Energy Partners Earns Neutral Rating
Denver, Colorado-based partnership MarkWest Energy Partners LP (MWE) has come back strongly from a rocky second half of 2008, when there were doubts regarding its ability to sustain distribution levels in the face of weak commodity prices and reduced access to credit. These...
14Oct2009 | vitalstocks | 0 comments | Continued(PAY) VeriFone Holdings Forms Global Security Solutions Business Unit
VeriFone Holdings Inc. (PAY) recently announced the formation of its Global Security Solutions Business Unit. This unit will focus on delivering innovative security solutions including VeriShield Protect end-to-end encryption, which protects cardholder data throughout merchant...
14Oct2009 | vitalstocks | 0 comments | Continued(JPM) JPMorgan & Chase Unit, One Equity Partners, Buys Constantia Packaging
One Equity Partners, a division of JPMorgan & Chase Co. (JPM) said on Monday that it has purchased 66% of Austria’s Constantia Packaging AG. Dutch holding company Constantia B.V. would retain a stake of up to 25% of Constantia Packaging. One Equity plans to offer €38.67...
14Oct2009 | vitalstocks | 0 comments | Continued(SKM) SK Telecom to Merge Broadband Unit
South Korea’s incumbent wireless operator SK Telecom (SKM) is considering absorbing the company’s Internet service unit SK Broadband Co through a merger, likely in April 2010. SK Broadband (formerly, Hanaro Telecom) is South Korea’s second largest provider of high-speed...
14Oct2009 | vitalstocks | 0 comments | Continued(AAP) Advance Auto Parts Targets E-Commerce
Advance Auto Parts (AAP) has launched its own e-commerce website, AdvanceAutoParts.com, to sell its products online for the first time since its dissolution with Phoenix-based auto retailer CSK Auto during the first quarter of 2009. The website will allow customers to purchase...
14Oct2009 | vitalstocks | 0 comments | Continued(PTR) PetroChina on Track to Meet its Annual Production Target
PetroChina (PTR) is right on track to meet its annual production target from Changqing field in northwestern China. During the first nine months, total production from this field increased 22% to 22.6 million metric tons of oil equivalent. This includes 11.4 million tons of crude...
14Oct2009 | vitalstocks | 0 comments | Continued