Archive for October, 2009
(C) Citigroup Frames New Investment Advisory Model
Citigroup Inc. (C) is planning a strategic shift in its investment advisory business by bringing qualified advisors from Citibank branches to provide fee-only investment advisory services instead of commission-based transactions. The new strategy will give clients who want wealth...
7Oct2009 | vitalstocks | 0 comments | Continued(SGP) Schering-Plough and Johnson & Johnson Score European Union Drug Approval
Yesterday, Schering-Plough Corp. (SGP) and Johnson & Johnson (JNJ) announced the approval of their drug Simponi (golimumab) in the European Union for the treatment of rheumatoid arthritis and other immune system disorders. The drug was approved by the U.S. Food and Drug Administration...
7Oct2009 | vitalstocks | 0 comments | Continued($AAI) AirTran Holdings to Raise Funds in Public Offering
On Tuesday, AirTran Holdings Incorporated (AAI) announced its intention to offer 9 million shares in an underwritten registered public offering. Along with this, it also intends to offer $75,000,000 aggregate principal amount of notes. The closing of the notes offering is expected...
7Oct2009 | vitalstocks | 0 comments | Continued(EMR) Emerson Electric Company to Acquire Avocent Corporation
Earlier today, Emerson Electric Co. (EMR) announced that it has reached an agreement to acquire network equipment technology provider Avocent Corp. (AVCT) for $1.2 billion in cash. Emerson will pay $25 per share for Avocent, which is a 22% premium to Monday’s closing price. Emerson...
7Oct2009 | vitalstocks | 0 comments | Continued(JEC) Jacobs Engineering Group Wins New Construction Contract
Yesterday, Jacobs Engineering Group Inc. (JEC) received a contract from the Stanford University Medical Center in Palo Alto, Calif. According to the contract Jacobs will provide program and construction management services for the New Stanford Hospital and Lucile Packard Children’s...
7Oct2009 | vitalstocks | 0 comments | Continued(ADBE) Adobe Systems Gets Federal Trade Commission OK For Omniture Acquisition
Adobe Systems (ADBE) yesterday announced the termination of the legal waiting period mandatory under the amended Hart-Scott-Rodino Antitrust Improvements Act of 1976. The expiry of the waiting period was announced by the FTC in one of its customary listings of approved deals. The...
7Oct2009 | vitalstocks | 0 comments | Continued(VZ) Verizon Wireless and Google Complete Android Pact
Verizon (VZ) reportedly partnered with search engine giant Google Inc. (GOOG) to develop and market mobile devices and applications based on the Android wireless software platform. Android-based mobile handsets developed through this collaboration will be available on Verizon’s...
7Oct2009 | vitalstocks | 0 comments | Continued(TEF) Telefonica to Unveil Palm Pre
Spanish Telecom giant Telefonica (TEF) announced today it will launch the much anticipated Palm Inc’s (PALM) Pre touch-screen smartphone in Spain on Oct 14. The device will be available on the company’s HSDPA wireless network and will be sold at a price of up to €219 (US$321)....
7Oct2009 | vitalstocks | 0 comments | Continued(GOOG) Google’s PowerMeter Software Much Smarter
Google’s (GOOG) PowerMeter has started a new chapter. When the company first introduced the free electricity monitoring software back in February, usage was limited to those consumers that already had a smart meter. Management has since been in talks with various device makers...
7Oct2009 | vitalstocks | 0 comments | Continued(PCP) Precision Castparts Corporation Closes Deals
Recently, Precision Castparts Corp. (PCP), a diversified manufacturer of complex metal components and products, has completed its acquisition of Carlton Forge Works in Paramount, California. Carlton is a leading manufacturer of seamless rolled rings of nickel, titanium and steel...
7Oct2009 | vitalstocks | 0 comments | Continued(BP) America and Europe Join Forces on Natural Gas – Here Are The Companies Set To Profit
by Tony Daltorio, Investment U Research Is the natural gas market ever going to emerge from the doldrums? With the global recession still marking its territory across the world, demand has dropped, sending natural gas prices plummeting from last year’s record high of $13.69...
7Oct2009 | InvestmentU | 0 comments | Continued(GT) Goodyear Tire & Rubber Company to Save $215 Million With United Steel Workers Deal
The Goodyear Tire & Rubber Company (GT) has revealed details about its master labor contract, ratified by members of the United Steel Workers (USW) union on Sep 18. The master contract covered about 10,300 employees at seven tire plants in the U.S. The plants are in Akron...
6Oct2009 | vitalstocks | 0 comments | Continued(CME) CME Group Unveils September Volumes
On Oct. 2, CME Group Inc. (CME) announced that Sept. 2009 volume averaged 10.5 million contracts per day, assuming combined CME Group and NYMEX volumes. That’s down 32% from Sept. 2008, but up 3% compared to Aug. 2009. Total monthly volume was 222 million contracts, 82%...
6Oct2009 | vitalstocks | 0 comments | Continued(F) A Look at the Hard-Hit Sectors
In the wake of the awful unemployment report this morning I decided to look at the employment picture a bit more closely for some of the hardest hit sectors of the economy, namely the Construction, Manufacturing and Financial sectors. The Manufacturing numbers are broken down...
6Oct2009 | vitalstocks | 0 comments | Continued(GPN) Global Payments Inc Tops Estimates
Global Payments Inc. (GPN) recently reported fiscal first-quarter earnings of $57.8 million, compared to $57.5 million in the year-ago quarter. Earnings per share came in at 71 cents, beating the Zacks Consensus Estimate by 9.2%, or 6 cents. Global Payments offers electronic...
6Oct2009 | vitalstocks | 0 comments | Continued(BMY) Bristol-Myers Squibb Scores with Diabetes Drug
On Friday, Bristol-Myers Squibb Co. (BMY) announced that its diabetes drug dapagliflozin, in combination with metformin (commonly prescribed oral anti-diabetic medication), significantly reduced levels of glycosylated haemoglobin which is an indication of glucose concentration...
6Oct2009 | vitalstocks | 0 comments | Continued(TXN) Texas Instruments Raises Thier Dividend
Last week, Texas Instruments (TXN) announced the opening of its 300mm (12-inch) analog fab at Richardson, Texas, which is the first of its kind. The fab was completed in 2006, but the demand situation caused management to defer production. Management expects to start equipping...
6Oct2009 | vitalstocks | 0 comments | Continued(MT) ArcelorMittal Raises $1 Billion of Capital Through Bond Offering
Last week, ArcelorMittal (MT) completed the pricing of its 30-year, $1 billion aggregate principal amount of 7% bonds due in 2039. The yield of the bonds is 7.4%. Net proceeds from the transaction will be $943.3 million (before expense), which will be used for general corporate...
6Oct2009 | vitalstocks | 0 comments | Continued(COP) ConocoPhillips Sees Poor Third Quarter
ConocoPhillips (COP) has warned of weak third quarter results on the back of poor North American natural gas prices. The company also said that total volumes may fall approximately 5% sequentially to 1.78 million barrels of oil equivalent per day (MMboe/d) due to seasonal planned...
6Oct2009 | vitalstocks | 0 comments | Continued(AGN) Allergan Files Federal Lawsuit
Allergan Inc. (AGN) recently filed a lawsuit seeking a ruling that the company should be allowed to share truthful and relevant information on Botox with physicians so as to help them evaluate the risks and benefits associated with certain off-label therapeutic uses of the treatment....
6Oct2009 | vitalstocks | 0 comments | Continued(RJET) Republic Airways Holdings Buys Frontier Airlines
Republic Airways Holdings (RJET) has announced completion of acquisition of Frontier Airlines Holdings Inc. This was pursuant to the latter’s bankruptcy reorganization plan. According to the investment agreement, Republic has purchased 100% of the stock of Frontier Holdings...
6Oct2009 | vitalstocks | 0 comments | Continued(HIW) Highwoods Properties Signs New Office Lease
Highwoods Properties, Inc. (HIW), a real estate investment trust (REIT), has recently signed a leasing agreement for its 24,000 square feet LakePointe One office building in Tampa. The deal was signed with the International Society for Pharmaceutical Engineering Inc., a leading...
6Oct2009 | vitalstocks | 0 comments | Continued(GCI) Gannett Co. Completes Senior Notes Offering
Gannett Co. Inc. (GCI), the largest newspaper publisher in the U.S. , recently notified that it has completed its previously announced private placement offering of $500 million senior notes. The company plans to utilize the net proceeds to repay outstanding debt under its revolving...
6Oct2009 | vitalstocks | 0 comments | Continued(CX) Cemex, S.A.B. de C.V. Further Reduces Debt
Recently, CEMEX, S.A.B. de C.V. (CX) completed the sale of its Australian operations to Switzerland’s Holcim Ltd (HOLN.VX). The proceeds of A$2.02 billion (approximately US$1.7 billion) will be used to reduce debt and to strengthen CEMEX’s liquidity position. This asset...
6Oct2009 | vitalstocks | 0 comments | Continued(AGCO) AGCO Corporation to Pay $20 Million to Settle Charges
AGCO Corp. (AGCO) recently won a tractor contract from the Heilongjiang provincial government in China. Under this contract, AGCO will deliver over 300 units of Valtra tractors to the province by the year end. The company did not disclose the financial terms of the deal. Over...
6Oct2009 | vitalstocks | 0 comments | Continued(SPG) Simon Property Group Beats the Gloom
Amidst early signs of market recovery, Simon Property Group Inc. (SPG), the largest publicly traded retail real estate company in North America, has recently signed leasing agreements with nine new retail and restaurant companies in its Central Texas shopping centers. With the...
6Oct2009 | vitalstocks | 0 comments | Continued(IBM) IBM Completes Acquisition of SPSS Incorporated
International Business Machines Corp. (IBM) has closed the deal to purchase SPSS Inc. (SPSS), a maker of data-analysis and statistical software. SPSS will be integrated into IBM’s Information Management software portfolio. On July 28, IBM had announced that it would be...
6Oct2009 | vitalstocks | 0 comments | Continued(TGT) Target Corporation Fined for Lead Paint in Toys
Target Corp. (TGT) agreed to pay a $600,000 penalty for allegedly importing and selling a variety of toys with lead paint on the surface. Lead is toxic if ingested by young children. It is believed that the lead content on some of the toys’ surface coatings were higher...
6Oct2009 | vitalstocks | 0 comments | Continued(SNY) Sanofi-Aventis Boosts Pipeline
French pharmaceutical giant Sanofi-Aventis (SNY) continues to boost its pipeline through in-licensing deals and acquisitions. The company recently entered into an agreement with Merrimack Pharmaceuticals, Inc. to acquire exclusive worldwide licensing rights for the development...
6Oct2009 | vitalstocks | 0 comments | Continued(EXPE) Cheaper Travel From Expedia Inc.
Expedia Inc. (EXPE), one of the largest online travel companies in the world, has released the fall issue of the Expedia Travel Trendwatch. Other than the usual bargains and offers for the holiday season, this issue is a testament to the continued weakness in travel sales. It...
6Oct2009 | vitalstocks | 0 comments | Continued