Archive for November, 2009
(LZ) Lubrizol Corporation Reports Their Profit Doubled
Net earnings of $2.52 in the third quarter of 2009 for Lubrizol Corporation (LZ), an Ohio-based specialty chemical company ? more than doubled from last year’s 98 cents. The upsurge came on the heels of cost reduction measures that lowered manufacturing costs and reduced selling,...
2Nov2009 | vitalstocks | 0 comments | Continued(TGT) Target Corporation to Lower Headcounts
Target Corporation (TGT), the operator of general merchandise and food discount stores in the United States , recently announced that it is lowering its headcount in the marketing department by nearly 8% or about 85 employees, as a part of its re-organizational program. There...
2Nov2009 | vitalstocks | 0 comments | Continued(CHT) Chunghwa Telecom Meets Earnings Estimates
Chunghwa Telecom Co. Ltd. (CHT) declared third quarter 2009 financial results. Quarterly revenue of $1,525 million decreased by 1.7% year-over-year but this was slightly better than the Zacks Consensus Estimate of $1,502 million. Despite facing increased competition and an extremely...
2Nov2009 | vitalstocks | 0 comments | Continued(CCC) Calgon Carbon Corporation Reports Good Quarter
Calgon Carbon Corporation (CCC) earned 25 cents in the third quarter of 2009. Results beat the Zacks Consensus Estimate of 12 cents with an over fivefold increase from 4 cents reported in the same period of the previous year, following favorable pricing and demand for activated...
2Nov2009 | vitalstocks | 0 comments | Continued(VMED) Virgin Media Remains Challenged
Virgin Media Inc. (VMED) declared mixed financial results for the third quarter 2009. Quarterly total revenue of $1,536 million was up 1.3% year-over-year. Third quarter total revenue was also better than the Zacks Consensus Estimate of $1,511 million. The company added 8,100...
2Nov2009 | vitalstocks | 0 comments | Continued(CIT) CIT Group Files for Chapter 11
CIT Group Inc. (CIT) has filed for Chapter 11 protection on Sunday. The company struggled for months to avoid collapse since the recession elicited billions of dollars in loan losses, and the financial crisis made it incapable of funding itself from its main financing source. This...
2Nov2009 | vitalstocks | 0 comments | Continued(HAR) Harman International Industries Reports Stronger Earnings
Harman International Industries Inc.’s (HAR) first-quarter earnings beat the Zacks Consensus Estimate by 20 cents. Revenues Revenues of $757.4 million were up 13.4% sequentially and down 12.9% year over year. The sequential increase was driven by all segments except Professional,...
2Nov2009 | vitalstocks | 0 comments | Continued(IDC) Interactive Data Tops Forecasts – Revenues Were Up
Interactive Data Corp. (IDC) reported third-quarter EPS of 45 cents, exceeding the Zacks Consensus estimate of 35 cents per share. Revenues Revenues for the quarter increased to $192.1 million, up 1.9% from $188.6 million in the year-ago period, primarily as a result of to the...
2Nov2009 | vitalstocks | 0 comments | Continued(GILD) Gilead Sciences Presented Positive Data From Two Phase III Clinical Trials
Gilead Sciences Inc. (GILD) recently presented positive data from a 3 year (144-week) open label two pivotal phase III clinical trials – Studies 102 and 103, evaluating the safety and efficacy of once-daily Viread (tenofovir disoproxil fumarate) among adult patients with chronic...
2Nov2009 | vitalstocks | 0 comments | Continued(REG) Regency Centers Corporation’s Fund From Operations Declines
Regency Centers Corp. (REG), a real estate investment trust (REIT) owning community shopping centers in the U.S., reported FFO (fund from operations) of $46.4 million or 58 cents per share in the third quarter, compared to $83.6 million or $1.19 per share in the year-earlier...
2Nov2009 | vitalstocks | 0 comments | Continued(RCRC) RC2 Corporation – Bear of the Day
We are downgrading our recommendation on RC2 Corporation (RCRC) from Neutral to Underperform. While third quarter results were ahead of the Zacks Consensus Estimate, primarily due to the benefits of the cost containment initiatives, we note that the company has reported a drop...
2Nov2009 | vitalstocks | 0 comments | ContinuedWhat If Jeremy Grantham is Right?
by Alexander Green, Chief Investment Strategist Jeremy Grantham, president of investment management firm GMO LLC, has been getting a lot of press lately. At the market’s top, he warned of an impending bear market. At the bottom in March, he forecast a historic rally. Today,...
2Nov2009 | InvestmentU | 0 comments | Continued(DOW) Dow Chemical Company – Bull of the Day
We have upgraded Dow Chemical Company (DOW) from Neutral to Outperform. Earnings of 24 cents in the third quarter of 2009 (significantly better than the Zacks Consensus Estimate of 9 cents, and the 5 cents reported in the previous quarter) were driven by cost reduction and asset...
2Nov2009 | vitalstocks | 0 comments | Continued(WDC) Western Digital Corp. – Beat Forecasts in Four of the Last Four Quarters by 113%
Western Digital Corp. (WDC) reported better than expected third-quarter results on Oct 21 on a 12% jump in shipments from a year ago. Third-Quarter Results Revenue was up 5% from last year to $2.1 billion. Earnings also came in strong at $1.25 per share, easily outpacing the...
2Nov2009 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell PLC’s Profit Tumbles – Volumes Flat
Energy major Royal Dutch Shell PLC’s (RDSA) third-quarter earnings per ADR, excluding non-recurring items, came in at 86 cents, which fell way short of the year-ago result at $2.62 and also missed the Zacks Consensus Estimate of 94 cents. The year-over-year negative comparisons...
2Nov2009 | vitalstocks | 0 comments | Continued($AAPL) Apple Upgraded to Outperform
We are upgrading Apple Inc. (AAPL) to Outperform from Neutral, as we believe Apple shares have further room for expansion. Apple has experienced tremendous growth, driven by the success of its iPhones and increased Mac shipments. We expect the iPhone-driven momentum to continue,...
2Nov2009 | vitalstocks | 0 comments | Continued(STRA) Strayer Education – Fall Enrollments Jumped 22%
Strayer Education, Inc. (STRA) delivered a record third quarter. Earnings per share of $1.21 topped the year-prior 83 cents and outpaced the Zacks Consensus Estimate by 4%. Revenues totaled $114.4 million, a 31% increase year-over-year. Fall enrollments jumped 22%. “We...
2Nov2009 | vitalstocks | 0 comments | Continued(MDCO) Medicines Co. Misses Forecasts & Cuts Projections
Medicines Co.’s (MDCO) third-quarter loss per share of 6 cents missed the Zacks Consensus Estimate of a loss of 5 cents. Revenues increased 12% to $98.8 million from $88.13 million in the year ago period driven by strong sales of Angiomax (bivalirudin). Angiomax, the lead product...
2Nov2009 | vitalstocks | 0 comments | Continued(MTZ) MasTec Inc. – Fourth Consecutive Earnings Surprise in a Row
MasTec Inc. (MTZ) reported third quarter results on Oct 28 that surprised on the Zacks Consensus Estimate by 1 cent. It was the fourth consecutive surprise in a row. MasTec designs and builds infrastructure for communication companies, utilities and governments through the United...
2Nov2009 | vitalstocks | 0 comments | Continued(URBN) Urban Outfitters – Earnings Estimates Continue to Climb
Urban Outfitters Inc. (URBN) Estimates Continue to Climb Since being featured on Sep 30, Urban Outfitters has received 9 upward estimate revisions for both this year and the next. The Zacks Consensus Estimate for this year is now $1.17, which would be unchanged year-over-year....
2Nov2009 | vitalstocks | 0 comments | Continued($USB) U.S. Bank Failures Zoom to 115 in 2009
Regulators shut down 9 more banks Incorporatedluding California National Bank; total failed banks in ’09 reach 115 Bank failures continue unabated as U.S. regulators on Friday closed down nine more banks Incorporatedluding California National Bank of Los Angeles. The failed...
2Nov2009 | vitalstocks | 0 comments | Continued(DNR) Denbury Resources to Acquire Encore Acquisition Company
Denbury Resources Inc. (DNR) has entered into a definitive agreement with Encore Acquisition Company (EAC) to acquire the company for $4.5 billion. This includes an assumption of debt and the value of the minority interest in Encore Energy Partners L.P. (ENP). Denbury intends...
2Nov2009 | vitalstocks | 0 comments | Continued(RUTH) Ruth’s Hospitality Group’s Loss Widens
Ruth’s Hospitality Group, Inc. (RUTH), one of the leading upscale dining operators, recently reported third-quarter 2009 results. The company reported a loss of 4 cents a share compared to a loss of 1 cent delivered in the prior-year quarter due to a sharp fall registered in...
2Nov2009 | vitalstocks | 0 comments | Continued($SOHU) Sohu.com Downgraded to Underperform
We are downgrading Sohu.com Inc. (SOHU) to Underperform from our pervious Neutral rating and reducing our six-month price target to $45, approximately 10.3x 2010 earnings, a discount to the industry average. We expect the stock to continue trading at a discount. While the company’s...
2Nov2009 | vitalstocks | 0 comments | Continued(ARNA) Amylin Pharmaceuticals Strikes First on Obesity
Almost all of the news in the obesity race has been made recently by three small biotech companies — Arena Pharmaceuticals (ARNA), Vivus Inc. (VVUS) and Orexigen Therapeutics (OREX), but yesterday it was mid-cap Amylin Pharmaceuticals (AMLN) that signed the first partnership...
2Nov2009 | vitalstocks | 0 comments | Continued(BIOS) BioScrip Earnings Report Beats Forecasts in Q3
BioScrip, Inc. (BIOS) reported third-quarter earnings of 14 cents per share, beating the Zacks Consensus Estimate of 10 cents. The company reported earnings of 6 cents in the year-ago period. Although earnings were better than expected, revenues declined 7.2% to $333.5 million....
2Nov2009 | vitalstocks | 0 comments | Continued(STR) Questar Reports Ahead of the Mark
Questar Corp. (STR) reported better-than-expected third quarter results despite facing steep decline in natural gas prices over the past year. Earnings per share, before mark-to-market gains and losses on natural gas basis-only swaps, came in at 56 cents, easily beating the Zacks...
1Nov2009 | vitalstocks | 0 comments | Continued(CL) Colgate Palmolive Company Reports Modest Earnings
Colgate Palmolive Company (CL) reported results for the third quarter of 2009 with earnings of $1.12 per share, which was a penny above the Zacks Consensus Estimate of $1.11. Earnings were up 13.1% year-over-year, driven by effective price implementation and ongoing aggressive...
1Nov2009 | vitalstocks | 0 comments | Continued(IPG) Interpublic Group of Companies Reported Discouraging Results
Interpublic Group of Cos. (IPG) has reported discouraging results for the third quarter 2009. Revenue fell to $1.43 billion from $1.74 billion in the third quarter of 2008, with an organic revenue decrease of 14.2% compared to the prior period. Net income available to IPG common...
1Nov2009 | vitalstocks | 0 comments | Continued(EQR) Equity Residential Broadens Earnings Guidance
Equity Residential (EQR) yesterday reported revenues of $492.7 million, down 3.6% year over year. On a same store basis (third quarter 2009 vs. third quarter 2008 comparison which includes 119,121 apartment units), revenues decreased 3.9% due to a 3.2% decrease in average rental...
1Nov2009 | vitalstocks | 0 comments | Continued