Archive for October, 2009
(BP) BP plc Tops Estimates on Better Cost Controls
BP plc (BP) reported its third quarter 2009 results of $1.71 per ADS (American Depositary Share), beating the Zacks Consensus Estimate of $1.14 on the back of stronger cost controls and increased upstream volumes. However, in comparison with the year-earlier results, earnings...
27Oct2009 | vitalstocks | 0 comments | Continued(DRYS) DryShips Beats, Results Hurt
DryShips, Inc.’s (DRYS) third-quarter earnings of 27 cents per share were 6 cents ahead of the Zacks Consensus Estimate. This excludes a loss of $39.3 million or 15 cents per share associated with the valuation of the company’s interest rate swaps. However, earnings were...
27Oct2009 | vitalstocks | 0 comments | Continued(TXT) Textron Beats Estimates, Sales Dip
Textron (TXT) has flown past the Zacks Consensus Estimate of a loss of 2 cents per share to register earning per share [EPS] of 12 cents in the third quarter of fiscal 2009. However, it fell far short of the year-ago figure of 85 cents per diluted share. The company also digested...
27Oct2009 | vitalstocks | 0 comments | Continued(RS) Reliance Steel & Aluminum Steel Posts Profits
Reliance Steel & Aluminum Co. (RS), the largest metals service company in US, reported net income of $41.8 million, or 57 cents per diluted share for the third quarter of 2009. This was considerably better than the Zacks Consensus Estimate of 45 cents and a sequential loss...
27Oct2009 | vitalstocks | 0 comments | Continued(LLL) L-3 Communications Holdings Tops Estimates, Raises Outlook
Before the opening bell, L-3 Communications Holdings Inc. (LLL) released strong third quarter results. In the reported quarter, the company clocked earnings per share [EPS] of $2.12, soundly beating both the Zacks Consensus Estimate of $1.85 and the year-ago quarterly EPS of...
27Oct2009 | vitalstocks | 0 comments | Continued(HMC) Honda Motor Corporation Tries for a Better Fit
A stronger Japanese yen against the dollar may prompt Honda Motor (HMC) to shift production of its Fit model from Japan to the U.S. This is mainly because Fit is one of the Honda’s models that attracted attention in the U.S. but are imported from Japan. However, the strengthening...
27Oct2009 | vitalstocks | 0 comments | Continued(NCR) NCR Corporation Falls Short of Expectations
NCR Corporation’s (NCR) third quarter EPS of 19 cents fell short of the Consensus Estimate of 24 cents. Revenue NCR reported revenue of $1.14 billion in the quarter, a decrease of 18.0% from $1.37 billion in the year-ago quarter. This decrease included approximately 1 percentage...
27Oct2009 | vitalstocks | 0 comments | Continued(F) Ford Faces Labor Troubles
Labor unrest at Ford’s (F) auto supplier plant in India has prompted the company to shut down its Oakville, Ontario, plant for the week, which employs 3,000 workers in two shifts. The closure would cost Ford 5,000 vehicles. The idled employees would get 65% of regular pay from...
27Oct2009 | vitalstocks | 0 comments | Continued(X) Losses Narrow for US Steel
Weak volumes and prices drive losses United States Steel Corporation (X) recorded its third sequential loss — $3.03 billion or $2.11 per share in the third quarter of 2009 in contrast to a net income of $9.19 billion or $7.79 per share in the third quarter of 2008. However,...
27Oct2009 | vitalstocks | 0 comments | Continued(FII) Federated Investors Looks Overseas for Expansion
Federated Investors Inc. (FII) is on a lookout for additional expansion after completion of last year’s acquisition, its main focus being international growth. In 2008, Federated acquired Clover Capital Management Inc. and the assets of the two Prudent Bear Funds and has almost...
27Oct2009 | vitalstocks | 0 comments | Continued(X) Steel Output Mounting
According to the data released by the World Steel Association (WSA), global steel output increased to 107 million tons in the month of Sep 2009, down marginally (0.6%) from the same month of the previous year. Month-on-month, steel output improved slightly from 106.5 million...
27Oct2009 | vitalstocks | 0 comments | Continued(BMS) Bemis Company Posts Higher Profits
Bemis Company, Inc. (BMS) reported third quarter earnings of 48 cents per share, above the Zacks Consensus Estimate of 39 cents and year-ago EPS of 43 cents. Earnings growth in the quarter was primarily driven by strong operating performance in the Flexible Packaging business,...
27Oct2009 | vitalstocks | 0 comments | Continued(WRB) W.R. Berkley Reports Earnings Inches Ahead of Estimates
W.R. Berkley’s (WRB) third quarter earnings of 67 cents per share were only a penny ahead of the Zacks Consensus Estimate. In the year-ago quarter, the company had reported earnings of 63 cents. Net income was $97 million, or 59 cents per share, compared with a loss of $27.9...
27Oct2009 | vitalstocks | 0 comments | Continued(SAH) Sonic Automotive Meets Estimates
Sonic Automotive (SAH) has reported a profit of 21 cents per share (excluding special items) for the third quarter of the year compared to 15 cents per share in the year-ago period. The profit was attributed to increased customer traffic due to the U.S. Government’s “Cash...
27Oct2009 | vitalstocks | 0 comments | Continued(CNMD) Conmed Corporation Surpasses Earnings Estimates
Conmed Corporation (CNMD) reported third quarter 2009 earnings per share of 28 cents, surpassing the Zacks Consensus Estimate of 17 cents. However, earnings per share were lower than the year-ago earnings of 37 cents. Sales Net sales for the reported quarter were $175.5 million,...
27Oct2009 | vitalstocks | 0 comments | Continued(BDX) Becton-Dickinson and Company Set for Acquisition of HandyLab
Becton-Dickinson and Company (BDX) is set to acquire HandyLab Inc., an Ann Arbor, Michigan-based company that develops and manufactures automation platforms and molecular diagnostic assays. The acquisition is expected to close by the year end. Financial terms of the deal have...
27Oct2009 | vitalstocks | 0 comments | Continued(SUPX) Margins Shrink at Supertex
Supertex Inc. (SUPX) recently reported revenues of $15.9 million in its fiscal second quarter, down 32% year over year but up 17% sequentially. The sequential increase in revenues was driven by growth in LED driver products for lighting and backlighting, medical electronics products,...
27Oct2009 | vitalstocks | 0 comments | Continued(IBM) IBM Agrees to Sell Client Support Operations to Dassault Systèmes
International Business Machines (IBM) has agreed to sell off its sales and client support operations to Dassault Systèmes, a leading provider of 3D software and Product Lifecycle Management [PLM] solutions. The acquisition will fetch approximately $600 million. Under the agreement,...
27Oct2009 | vitalstocks | 0 comments | Continued(FDO) Consumer Confidence Crumbles
The Conference Boards Index of Consumer Confidence dropped to 47.7 from 53.4 in September. While this is much higher than the readings in the low 20’s earlier this year, it is a very disappointing reading. Both the current situations index, and the expectations for conditions...
27Oct2009 | vitalstocks | 0 comments | Continued(PALM) Palm Pixi Smartphone Coming Next Month
Palm Inc.’s (PALM) new smartphone called Pixi, a lighter and cheaper version of the Palm Pre will be available via Sprint Nextel Corp. (S) beginning Nov 15 for just $99.99. The phone will come with a two-year contract after a $50 instant rebate and a $100 mail-in rebate. The...
27Oct2009 | vitalstocks | 0 comments | Continued(LIFE) Life Technologies Corporation Beats
Life Technologies Corporation (LIFE) reported third quarter earnings of 73 cents per share, well above the Zacks Consensus Estimate of 61 cents. The company reported earnings of 63 cents in the year-ago period. Strong growth in Europe, Asia-Pacific and Japan helped revenues increase...
27Oct2009 | vitalstocks | 0 comments | Continued(VRTX) Vertex Pharmaceuticals Posts Wider Loss
Vertex Pharmaceuticals (VRTX) posted a loss of 83 cents per share in the third quarter, 3 cents wider than the Zacks Consensus Estimate of a loss of 80 cents. The company posted a loss of 92 cents per share in the year ago period. The wider than expected loss was mainly due...
27Oct2009 | vitalstocks | 0 comments | Continued(BMRN) BioMarin Pharmaceutical Purchases Huxley Pharmaceuticals
Recently, BioMarin Pharmaceutical Inc. (BMRN) announced that it has acquired the privately held Huxley Pharmaceuticals Inc., which possessed rights to a proprietary form of 3,4-diaminopyridine amifampridine phosphate ( 3,4-DAP), for the treatment of Lambert Eaton Myasthenic Syndrome...
27Oct2009 | vitalstocks | 0 comments | Continued(RRC) Drilling for Natural Gas: The One Thing That New York Fears More Than Terrorists
by David Fessler, Energy and Infrastructure Expert Tuesday, October 27, 2009: Issue #1124 New York City has a problem. In addition to other hazards, the threat of another terrorist attack is an obvious, ongoing danger to one of the most populated cities in the world. But that’s...
27Oct2009 | InvestmentU | 0 comments | Continued(CF) CF Industries Holdings’ Profits Plunge in 3rd Quarter
CF Industries Holdings Inc. (CF) posted earnings of 78 cents in the third quarter of 2009, down from the Zacks Consensus Estimate of $1.01. Reported earnings were down 18% from 82 cents reported in the same quarter of the previous year on lower fertilizer sales. Sales of $430.1...
27Oct2009 | vitalstocks | 0 comments | Continued(TPP) TEPPCO Partners L.P. Unitholders Approve Merger
Recently, the unitholders of TEPPCO Partners L.P. (TPP) approved the proposed merger with Enterprise Products Partners L.P. (EPD). This merger will create the nation’s largest publicly traded energy partnership with an enterprise value of approximately $30 billion. Of the votes...
27Oct2009 | vitalstocks | 0 comments | Continued(C) Capmark Financial Group Files for Bankruptcy
Capmark Financial Group Inc., one of the key commercial real-estate lenders in the U.S., along with some of its subsidiaries has filed Chapter 11 protection. The filing adds to the lingering concern that the commercial real-estate market is still struggling. The company seeks...
27Oct2009 | vitalstocks | 0 comments | Continued(TQNT) TriQuint Semiconductor Issues Guidance Disappointment
TriQuint Semiconductor (TQNT) recently reported revenues of $173.0 million in the third quarter of 2009, down 7% year over year but up 2% sequentially. The sequential revenue growth was broad-based and came from all end markets. In particular, network markets grew 13% sequentially,...
27Oct2009 | vitalstocks | 0 comments | Continued(HGR) Hanger Orthopedic Group Beats Earnings Consensus
Hanger Orthopedic Group, Inc. (HGR) yesterday reported financial results for the third quarter of fiscal 2009 after market close. Earnings per share were 30 cents, beating the Zacks Consensus Estimate of 27 cents and the year-ago earnings of 23 cents. Sales Net sales for the...
27Oct2009 | vitalstocks | 0 comments | Continued(TROW) T. Rowe Price Benefits from Higher Assets Under Management
T. Rowe Price (TROW) reported third quarter 2009 net income, applicable to common shareholders, of $132.4 million or 50 cents per share compared to a net income of $152.4 million or 56 cents per share in the prior-year quarter. Results were ahead of the Zacks Consensus Estimate...
27Oct2009 | vitalstocks | 0 comments | Continued