Archive for November, 2009
(LOW) Lowe’s Companies’ Earnings Report Tumbles
Amidst a bleak economic outlook, Lowe’s Companies Inc. (LOW) recently reported its third quarter results. Quarterly earnings of 24 cents a share fell 27.3% from 33 cents posted in the prior-year quarter due to sluggish consumer demand for big renovations. However, the earnings...
16Nov2009 | vitalstocks | 0 comments | Continued(CAEI) China Architectural Engineering Posts Q3 Loss
China Architectural Engineering Inc. (CAEI) posted a net loss of 16 cents per share for the third quarter, compared to a net profit of 18 cents in the prior-year period. The net loss in the quarter can be attributed to lower contract revenue, adjustment to estimated gross revenue...
16Nov2009 | vitalstocks | 0 comments | Continued(MSCC) Microsemi Beats Estimates – Sees Growth in Q1
Microsemi Corporation’s (MSCC) fiscal fourth quarter earnings beat the consensus by a penny. The company reported revenue of $109.7 million, which was up 2.5% sequentially and down 18.6% year over year. Microsemi’s Analog/Mixed Signal products cater to three end markets—mobile/connectivity,...
16Nov2009 | vitalstocks | 0 comments | Continued(AIR) Aar Corporation Signs with Mesa Air Group
Earlier this month, Aar Corp. (AIR) entered into a series of related transactions with Mesa Air Group, Inc. (MESA). AAR and Mesa amended their parts supply and maintenance agreements for Mesa’s CRJ-200 and ERJ-145 aircraft fleet to provide Mesa with increased flexibility...
16Nov2009 | vitalstocks | 0 comments | Continued(MBT) Mobile TeleSystems Tops Expectations, Economy & Currency Exchange Hurt Sales
Mobile TeleSystems (MBT), Eastern Europe’s largest cellular operator, announced results for third-quarter 2009 with earnings per ADS of $1.31 exceeding the Zacks Consensus Estimate of $1.17. Net income, however, dipped 4.1% year over year to $494.4 million on lower revenue...
16Nov2009 | vitalstocks | 0 comments | Continued(MRK) Merck Cholesterol Drug Data Sees Setback
The effectiveness of Merck’s (MRK) cholesterol lowering drug Zetia has been put to question following the release of data from a clinical trial comparing Abbott’s (ABT) Niaspan (niacin extended-release tablets) plus a statin with Merck’s Zetia. Although data are not encouraging...
16Nov2009 | vitalstocks | 0 comments | Continued(NS) NuStar Energy Closes Public Offering
NuStar Energy L.P. (NS) announced the closing of its 5,750,000 common units of public offering, representing $52.45 per unit limited partner interest. Of this, 750,000 units were sold to underwriters. Total net proceeds from the public offering were $289 million Incorporatedluding...
16Nov2009 | vitalstocks | 0 comments | Continued(TWGP) Tower Group Completes Acquisition of Specialty Underwriters’ Alliance
New York-based Tower Group Inc. (TWGP) has completed the acquisition of Illinois-based specialty insurer, Specialty Underwriters’ Alliance Inc. (SUAI). The deal, which was previously announced during Jun 2009, cost $107 million for Tower. All the conditions contingent to...
16Nov2009 | vitalstocks | 0 comments | Continued(TWX) Metro-Goldwyn-Mayer Studio Up For Sale
Metro-Goldwyn-Mayer Inc. (MGM), a privately-held media company, is exploring strategic options Incorporatedluding a potential sale of the company, to repay its huge debt as its home video market has gone adrift. The company owns the world’s largest library of contemporary...
16Nov2009 | vitalstocks | 0 comments | Continued(JPM) U.S. Bank Failures Rise to 123 in 2009
Regulators shut down 2 banks in Florida and 1 in California; U.S. bank failures reach 123 this year. U.S. regulators on Friday shuttered two more banks in Florida and one in California. Though there are some early signs of economic recovery, bank failures continue unabated. This...
16Nov2009 | vitalstocks | 0 comments | Continued(COGO) Cogo Group Matches Consensus Estimates
Cogo Group Inc. (COGO) reported third quarter 2009 earnings per share of 12 cents, matching the Zacks Consensus Estimate. The company posted quarterly revenue of $82.0 million, a year-over-year increase of 9.7%. Industrial applications business generated revenues of $11.1 million,...
16Nov2009 | vitalstocks | 0 comments | Continued(WNR) Western Refining Suffers Quarterly Loss
Oil refiner and marketer Western Refining Inc. (WNR) reported weaker-than-expected third quarter results, pulled down by lower margins and throughput on the back of weak fuel demand and high inventories caused by the prolonged economic slowdown. This was partially offset by lower...
16Nov2009 | vitalstocks | 0 comments | Continued($BMY) Bristol-Myers Squibb Divests its Nutritional Segment
Bristol-Myers Squibb Co. (BMY) intends to split its 83.1% holding in the Nutritional segment which operates under its subsidiary Mead Johnson and develops infant formulas such as Enfamil and other nutritional products. The move is aimed to enable the company to concentrate on...
16Nov2009 | vitalstocks | 0 comments | Continued(DAI) Daimler to Recoup Smart Sales
Daimler (DAI) has started offering discounts for its micro-hybrid car, smart fortwo, in the U.S. in order to recoup its depressed sales. In the third quarter, Penske Automotive Group (PAG), which owns distribution entity for the smart for two in the U.S. through its 75 smart...
16Nov2009 | vitalstocks | 0 comments | Continued(SOL) ReneSola Tops Consensus Earnings Estimates
ReneSola Ltd. (SOL) reported a third-quarter loss of 7 cents per share, worse than the Zacks Consensus Estimate of a loss of 4 cents per share. However, the company was able to increase its revenues 70.6% to $140.9 million in the reported quarter from $82.6 million in the previous...
16Nov2009 | vitalstocks | 0 comments | Continued($DOW) Dow Chemical Gearing Up to Divest
Dow Chemical Company (DOW) is planning to sell more non-core assets in 2010 to pay off debt from its $16.5 billion acquisition of rival Rohm and Haas in April of this year. It is planning further debt reductions of about $12 billion. Dow stated that it plans to lighten its debt...
16Nov2009 | vitalstocks | 0 comments | Continued(WM) Waste Management Raises $600 Million in Capital
Waste Management, Inc. (WM) announced that it has priced an underwritten public offering of $600 million aggregate principal amount of 6.125% senior notes due November 30, 2039. The company expects the notes to be assigned ratings of BBB by both Standard & Poor’s and Fitch...
16Nov2009 | vitalstocks | 0 comments | Continued(DELL) Dell’s Smartphone to Use Google’s Android
Dell Inc. (DELL), one of the world’s leading computer manufacturer, has decided to start manufacturing its smartphone device. The company has zeroed in on Brazil as the first manufacturing destination and chosen Claro as its carrier partner in the region. Dell will also be...
16Nov2009 | vitalstocks | 0 comments | Continued(GENZ) Genzyme Corp Haunted by Contamination Issues
Biotech company Genzyme Corp. (GENZ), faced yet another setback recently when the U.S. Food and Drug Administration (FDA) announced that vials of five drugs marketed by the company were found to be contaminated. The affected drugs include Cerezyme, Myozyme, Fabrazyme, Aldurazyme...
16Nov2009 | vitalstocks | 0 comments | Continued(LBTYA) Liberty Global to Acquire Unitymedia GmbH
Liberty Global Inc. (LBTYA) announced it will acquire all of the issued and outstanding capital stock of Unitymedia GmbH, the second largest cable TV operator in Germany. The total consideration will be approximately $5.2 billion. Liberty Global will acquire 100% of the shares...
16Nov2009 | vitalstocks | 0 comments | Continued(RHT) Red Hat’s Credit Rating Raised by Standard & Poors
Strong financial performance in the most recent quarter and continued growth in results despite a challenging economy have led Standard & Poor’s (S&P) Rating Services to raise Red Hat Inc.’s (RHT) corporate credit rating from BB to BB+. Red Hat is a leader in...
16Nov2009 | vitalstocks | 0 comments | Continued(PBR) Brazil is Set for An End-of-Year Economic Samba – Join The Dance
This analysis is from Martin Denholm, Senior Editor, Investment U Monday, November 16, 2009 A GDP growth rate of 9% would be an impressive performance over the course of a year. But it’s nothing short of outstanding over just one quarter. Yet that’s the projected fourth...
16Nov2009 | InvestmentU | 0 comments | ContinuedTrailing Stops Made Simple
by Alexander Green, Chief Investment Strategist Monday, November 16, 2009: Issue #1138 Everyone likes to talk about stock market winners. No one likes to talk about losers. Perhaps especially those of us who pick stocks for a living. But buy enough stocks and you’re bound...
16Nov2009 | InvestmentU | 0 comments | Continued(CAAS) China Automotive Systems, Inc. – Earnings Beat Consensus by 75%
China Automotive Systems, Inc. (CAAS) just reported strong third-quarter results that easily beat expectations and raised its 2009 full-year guidance. Third-Quarter Results Sales were up 75% from last year to $64.7 million. Earnings also came in strong at 28 cents per share,...
16Nov2009 | vitalstocks | 0 comments | Continued(URBN) Urban Outfitters Inc – Consensus Estimates Continue to Rise
Urban Outfitters, Inc. (URBN) has added 25 new stores in 2009 and intends to open 32 to 34 new stores for the full year as its growth plans remain intact despite the difficult economic environment. If retail has been struggling, you couldn’t tell from Urban Outfitters third...
16Nov2009 | vitalstocks | 0 comments | Continued(MYGN) Myriad Genetics – Bear of the Day
Myriad Genetics Inc. (MYGN) reported first quarter fiscal 2010 earnings of 31 cents per share, which was below the Zacks Consensus Estimate by a penny. The company had earned 25 cents per share in the year-ago period. Myriad Genetics spun off its therapeutics business in July...
16Nov2009 | vitalstocks | 0 comments | Continued(BMO) Bank of Montreal – After Posting 3 Earnings Surprises in a Row, Fourth Quarter Estimates are Trending Higher
Bank of Montreal (BMO) is scheduled to report fourth quarter results on Nov 24. After posting 3 earnings surprises in a row, fourth quarter estimates are trending higher by a penny in the last week, rising to 90 cents. Bank of Montreal, which provides personal, commercial and...
16Nov2009 | vitalstocks | 0 comments | Continued(INFY) Infosys Technologies – Bull of the Day
We are upgrading Infosys (INFY) to an Outperform rating with a target price of $57. Through the ongoing economic downturn, the company has invested in Research & Development as well as intellectual property-based solutions. It continues to focus on large deals targeted at...
16Nov2009 | vitalstocks | 0 comments | Continued(ICE) Intercontinental Exchange Launches New Energy Contracts
On Monday, Intercontinental Exchange, Inc. (ICE) launched 40 new over-the-counter (OTC) energy contracts for North American natural gas, power, natural gas liquids and global oil products. Trading of the above contracts is scheduled to begin on Dec 7, 2009. The new cleared oil...
14Nov2009 | vitalstocks | 0 comments | Continued(CTIC) Cell Therapeutics Reports Earnings – Awaiting FDA Decision
Cell Therapeutics’ (CTIC) third quarter loss per share came in at 8 cents compared to a loss of $1.14 reported in the year ago period. The company does not have any marketed product at present; it derives revenues primarily in the form of license and contract revenues. Cell...
14Nov2009 | vitalstocks | 0 comments | Continued