Archive for October, 2009
(XOM) ExxonMobil Buys Ghana Oil Field Stake
ExxonMobil (XOM) has agreed to buy Kosmos Energy’s stake in oil blocks of Jubilee oil field offshore the West African country of Ghana for approximately $4 billion. Many of the world’s big oil companies had shown interest in this deal. This includes Royal Dutch Shell (RDSA),...
8Oct2009 | vitalstocks | 0 comments | Continued(GENZ) Genzyme Fails to Receive Clolar Drug Approval
Yesterday, Genzyme Corp. (GENZ) failed to receive U.S. Food and Drug Administration (FDA) approval for Clolar in elderly adults with acute myeloid leukemia (AML). Clolar is currently approved for pediatric acute lymphoblasic leukemia (ALL) patients who have relapsed or refractory...
8Oct2009 | vitalstocks | 0 comments | Continued(BA) The Boeing Company to Digest $1 Billion Charge Related to 747-8 Series Freighter jet
The Boeing Company (BA) yesterday announced that it will record a $1 billion charge in the third quarter of fiscal 2009. The company attributed the charge from a delay in producing a new version of the 747-8 series freighter jet, leading to slow sales and late design changes....
8Oct2009 | vitalstocks | 0 comments | Continued(CRAI) CRA International’s Q3 Results Disappoint
CRA International’s (CRAI) third quarter results were disappointing. The company earned 31 cents per share, significantly down from the Zacks Consensus Estimate of 47 cents. Results were impacted by the ongoing uncertainty of the global recession as clients reduced their spending,...
8Oct2009 | vitalstocks | 0 comments | Continued(ANGO) AngioDynamics Outperforms Estimates
AngioDynamics, Inc. (ANGO) yesterday reported first quarter fiscal 2010 earnings per share of 9 cents, surpassing the Zacks Consensus Estimate of 8 cents. Earnings per share in the year-ago quarter also reached 9 cents. Sales Net sales in the reported quarter were $50.1 million...
8Oct2009 | vitalstocks | 0 comments | Continued(STJ) St. Jude Medical’s Results Disappoint
St. Jude Medical (STJ) warned that third-quarter earnings will be below previous guidance. The company anticipates reporting profits of 57 to 58 cents per share, compared to prior guidance of 61 to 63 cents and the Zacks Consensus Estimate of 62 cents. St. Jude’s share reacted...
8Oct2009 | vitalstocks | 0 comments | Continued(IRM) Iron Mountain Incorporated Remains Solid
Guidance for 2009 Reaffirmed At the Investor Day yesterday, Iron Mountain Incorporated (IRM) reiterated its guidance for fiscal 2009. The company expects revenue in the range of $2.98 – $3.04 billion, representing growth of 3% to 5% from fiscal 2008, excluding the effects...
8Oct2009 | vitalstocks | 0 comments | Continued(BAC) Bank of America Vows Not to Hike Card Rate
Bank of America Corporation (BAC) said on Tuesday that it will not raise rates or change terms on consumer credit card accounts before the new law (CARD Act) intended to reform industry practices takes effect early next year. To manage costs in light of the sweeping new reforms...
8Oct2009 | vitalstocks | 0 comments | Continued(C) Pay Czar Seeks to Limit Salaries – Impact on Company Talent?
In the course of the review of the aptness of the richest pay packages proposed by seven financial firms that received $200 billion in government aid, the U.S. pay czar Kenneth Feinberg is planning to cut the annual cash salaries for many of the top executives whose firms accepted...
8Oct2009 | vitalstocks | 0 comments | Continued(GIII) Top Performer for Thurs: G-III Apparel- Zacks #1 Rank Top Performers
We’re going to stick with the Textile-Apparel industry for a second consecutive day and feature G-III Apparel Group, Ltd. (GIII). With a gain of approximately 6%, this clothing company is a top-performing Zacks #1 Rank company on Thursday. Earnings estimates remain at heightened...
8Oct2009 | vitalstocks | 0 comments | Continued(AMZN) Amazon’s Kindle Goes International
Amazon.com (AMZN) has introduced a new version of its Kindle reader, which will be sold in the U.S. as well as a 100 other countries. The reader has been priced at $279. The company’s Whispernet technology enables Kindle users to download books available at its store without...
8Oct2009 | vitalstocks | 0 comments | Continued(FDO) 50 Little Hoovers
Unlike the Federal government, states and municipalities are not allowed to run deficits to finance their ongoing operations (they can, of course, float bond issues for capital projects). In a recession, tax revenues fall. The primary source of tax revenues for the states are...
8Oct2009 | vitalstocks | 0 comments | Continued(BSX) Boston Scientific Readies for Clinical Trial
Boston Scientific Corporation (BSX) announced its first patient enrollment for the MADIT-RIT clinical trial. The company is also the exclusive sponsorship for the program. The new trial follows three previous landmark trials- MADIT, MADIT II and MADIT-CRT. The MADIT-RIT trial...
8Oct2009 | vitalstocks | 0 comments | Continued(TEF) Telefonica SA Bids to Expand in Brazil
Spain’s incumbent telecom carrier Telefonica SA (TEF) has reportedly made an all-cash bid to acquire Brazilian telecom operator GVT Holding SA in an effort to expand its presence in the lucrative Brazilian telecom market. The Spanish operator’s Brazilian fixed-line subsidiary...
8Oct2009 | vitalstocks | 0 comments | Continued(LUV) Southwest Airlines’ September Traffic Spikes
Yesterday, Southwest Airlines (LUV) announced its preliminary mainline traffic results for September. The company reported an 8.8% surge in traffic to 5.8 billion revenue passenger miles from 5.3 billion revenue passenger miles a year ago. Load factor, or the percentage of available...
8Oct2009 | vitalstocks | 0 comments | Continued(CVX) Oil Down as Petroleum Supplies Rise
Yesterday, the federal government’s Energy Information Administration [EIA] reported an unexpected decline in crude stockpiles. However, the report also showed a larger-than-anticipated buildup in gasoline and distillate inventories, thereby offsetting the positive impact. In...
8Oct2009 | vitalstocks | 0 comments | Continued($GSK) GlaxoSmithKline Announces Swine Flu Vaccine Orders Increase
Yesterday, GlaxoSmithKline (GSK) announced that orders for its pandemic (H1N1) adjuvanted vaccine have increased significantly in the past two months. On Aug 4, the company reported that it had contracts for the supply of 291 million doses of the swine flu vaccine. The company...
8Oct2009 | vitalstocks | 0 comments | Continued(ENZN) Enzon Pharma Announces European Approval for Cimzia
Yesterday, Enzon Pharma (ENZN) announced the European Commission approval of UCB’s Cimzia (certolizumab pegol) for the treatment of adult patients with moderate-to-severe active rheumatoid arthritis (RA). Cimzia utilizes Enzon’s PEGylation technology. Earlier in May 2009,...
8Oct2009 | vitalstocks | 0 comments | Continued($AN) Earnings Preview for AutoNation
AutoNation (AN) will release its sales and earnings results for the third quarter ended Sep 30, 2009, on Thursday, Oct 29, 2009, before the market opens. The Florida-based automotive retailer reported earnings of $55 million or 31 cents per share in the second quarter of 2009....
8Oct2009 | vitalstocks | 0 comments | Continued(POOL) Pool Corporation to Acquire General Pool & Spa Supply
Pool Corp. (POOL) announced on Monday that it will acquire privately held General Pool & Spa Supply Inc., a regional swimming pool and spa products distributor, to strengthen its market positions and leverage the latter’s technology platform and spa parts expertise. The...
8Oct2009 | vitalstocks | 0 comments | Continued(CRK) Comstock Resources Provides Positive Update
Yesterday, oil and natural gas firm Comstock Resources Inc. (CRK) provided an operational update about its recently completed third quarter. Average production was up 9% sequentially to about 184 million cubic feet equivalent per day (MMcfe/d), reflecting the success of Comstock’s...
7Oct2009 | vitalstocks | 0 comments | Continued($SU) Suncor Energy to Expand Ethanol Plant
Suncor Energy (SU) recently resumed the expansion of its St. Clair ethanol plant near Sarnia, Ontario, with completion expected in late 2010 or early 2011. The $120 million construction project is expected to double the plant’s ethanol production capacity from 200 to 400...
7Oct2009 | vitalstocks | 0 comments | Continued(TAM) Star Alliance Inducts TAM
TAM S.A. (TAM) signed partnership agreements with two members of Star Alliance yesterday. It signed agreements with airline bmi (British Midland Airways Ltd.) and Austrian Airlines to allow members of the TAM Fidelidade program to accumulate and redeem points on flights operated...
7Oct2009 | vitalstocks | 0 comments | Continued(MON) Monsanto Beats Estimates and Reaffirms
Today before the market opened, Monsanto Co. (MON), the largest chemicals and biotech seed maker reported results for the fourth quarter of fiscal year 2009, ended August 31, 2009. Excluding one-time items (on an ongoing basis), the company reported earnings of 2 cents per share,...
7Oct2009 | vitalstocks | 0 comments | Continued(MEE) Massey Energy Company Acquires Bankrupt Rival Appalachian Fuels
Massey Energy Company (MEE), the fourth largest coal company in the US and the largest in Central Appalachia, has completed the acquisition of mining assets from its bankrupt rival, Appalachian Fuels LLC. At more than $5.1 million, the assets include 23 million tons of coal reserves,...
7Oct2009 | vitalstocks | 0 comments | Continued(TOT) Total, GdF-Suez Partner with KazMunaiGas
Total (TOT) and GdF-Suez recently signed a Heads of Agreement (HOA) partnering with KazMunaiGas (KMG), Kazakhstan’s state oil company, for the development of the Khvalynskoye field. Following the agreement, Total and GdF-Suez are holders of 25% interest (Total 17%, GdF-Suez...
7Oct2009 | vitalstocks | 0 comments | Continued(HUBB) Hubbell Incorporated Closes Burndy Acquisition
Hubbell Inc.(HUBB) announced the closure of the FCI Americas (Burndy business) acquisition yesterday. The company purchased Burndy for $360 million, funded through a combination of the cash on its balance sheet and the liquidation of some of its investments. Burndy is a manufacturer...
7Oct2009 | vitalstocks | 0 comments | Continued(KMB) Kimberly-Clark Aquires New Pain Management Business
Kimberly-Clark Corp. (KMB) announced that it acquired Baylis Medical Co.’s pain management business. The acquisition also includes a number of innovative, minimally-invasive radio-frequency pain management products. Baylis was founded by Gloria Baylis (a registered nurse)...
7Oct2009 | vitalstocks | 0 comments | Continued($GS) Goldman Sachs Group May Amend $3 Billion CIT Group Loan
Goldman Sachs Group Inc. (GS) is contemplating to amend the terms of a $3 billion loan which it had given to struggling lender CIT Group Inc. (CIT) to enable it to continue using the facility. The investment bank extended a 20-year funding to CIT in Jun 2008. According to the...
7Oct2009 | vitalstocks | 0 comments | Continued(ENB) Enbridge Signs Gulf of Mexico Pipeline Deal
Calgary-based Enbridge Inc. (ENB) recently announced that it reached an agreement with subsidiaries of U.S. oil major Chevron Corp. (CVX), Norway’s StatoilHydro ASA (STO) and Japan’s Marubeni Corp. to construct and operate a 40-mile, 20-inch oil pipeline from the proposed...
7Oct2009 | vitalstocks | 0 comments | Continued