Archive for November, 2009
(S) Sprint Nextel Acquires Virgin Mobile USA
Sprint Nextel (S) has officially wrapped up its acquisition of prepaid wireless reseller Virgin Mobile USA (VM). This follows the approval of the transaction by the shareholders of Virgin Mobile USA, which is a joint-venture between UK’s Virgin Group and Sprint. Virgin Mobile...
25Nov2009 | vitalstocks | 0 comments | Continued(GPS) Retail Industry – Industry Outlook
Upcoming Holiday Shopping Season With a probable end in sight to a prolonged recession, American consumers are somewhat upbeat about the upcoming holiday shopping season. However, customers remain skeptical at the same time and intend to spend less, compared to previous years...
25Nov2009 | vitalstocks | 0 comments | Continued(SNE) Long Term Evolution (LTE): How to Join the Race for the Next Dominant Broadband Technology
by Sheena Martin, Contributing Editor Wednesday, November 25, 2009 Over the past five years, an incredible new technology has gained momentum and is set to make its debut imminently. And as always, early investors are likely to enjoy the greatest returns. The technology is...
25Nov2009 | InvestmentU | 0 comments | Continued(JWN) Nordstrom’s Opens Store in North Carolina
Nordstrom Inc. (JWN), a leading fashion specialty retailer, has recently announced plans to open a 33,000 square feet Nordstrom Rack in North Carolina, making its debut in the city. Nordstrom Rack is the off-price division of Nordstrom Inc. The first Nordstrom Rack was opened...
25Nov2009 | vitalstocks | 0 comments | Continued(MIL) Millipore Corporation Buys Remaining Stake in India
Millipore Corp. (MIL) yesterday announced the acquisition of the remaining 60% ownership of its joint-venture in India, Millipore India Pvt. Ltd. The new subsidiary will enable Millipore to invest in initiatives that will drive growth and expand its leadership in India’s thriving...
25Nov2009 | vitalstocks | 0 comments | Continued(JPM) JPMorgan Chase & Company Fortifies China Management
JPMorgan Chase & Company (JPM) said on Monday that it has appointed Zili Shao as chairman and chief executive of its China operation. It has also appointed Fang Fang as vice-chairman of its Asia Investment Banking operations. The company has initiated management changes to...
25Nov2009 | vitalstocks | 0 comments | Continued(C) Citigroup Expects Strong Economic Growth
Citigroup Inc. (C) forecasts strong economic growth in many countries in 2010. But although the company expects several countries to experience economic growth, it predicts that the growth will be somewhat uneven. According to the annual report of Citi’s Investment Research...
25Nov2009 | vitalstocks | 0 comments | Continued(FL) Foot Locker Misses Earnings Expectations
Foot Locker Inc. (FL) swung to a GAAP net loss of $6 million during its fiscal 2009 third quarter, from a GAAP net income of $24 million in the year-ago period. The quarterly result included a $22 million impairment charge associated with the company’s long-lived assets in...
25Nov2009 | vitalstocks | 0 comments | Continued(MFC) Manulife Financial Corporation Buys Stake, Raises Equity
Manulife Financial Corporation (MFC) has agreed to purchase a 49% stake in ABN AMRO TEDA Fund Management Co. for US$156 million in cash. The joint venture will be named Manulife TEDA Fund Management Co. Ltd. It will offer traditional retail and institutional asset management...
25Nov2009 | vitalstocks | 0 comments | Continued(REP) REPSOL YPF S.A. Remains Neutral
REPSOL YPF S.A. (REP) reported third-quarter earnings of 30 euro-cents per share (45 cents per ADR), compared to the Zacks Consensus Estimate of 43 cents and year-earlier earnings of 58 euro-cents (82 cents per ADR). While earnings was down year over year due to the steep decline...
25Nov2009 | vitalstocks | 0 comments | Continued(DHI) D.R. Horton’s Loss Widens
D.R. Horton (DHI) has revealed a net loss of $231.9 million or 73 cents per share for the fourth quarter of its fiscal 2009 ended Sep 30, 2009, as the homebuilding industry faced several challenges such as rising foreclosures, high inventory levels of available homes Incorporatedreasing...
25Nov2009 | vitalstocks | 0 comments | Continued(VLO) Valero Energy to Shut Delaware Refinery
Valero Energy Corp. (VLO) announced plans to close its Delaware City refinery due to poor economic conditions, significant capital spending requirements and high operating costs. The shutdown will affect approximately 550 employees at the plant. The company plans to commence...
25Nov2009 | vitalstocks | 0 comments | Continued(AZO) AutoZone Earnings Preview
AutoZone (AZO) is expected to release its sales and earnings results for the fiscal first quarter before the opening bell on Dec 8. The Memphis, Tennessee-based retailer of automotive replacement parts reported a 3.1% year-over-year fall in its profit to $236.1 million or $4.43...
25Nov2009 | vitalstocks | 0 comments | Continued(ETP) Energy Transfer Partners – Bear of the Day
Our Underperform recommendation on Energy Transfer Partners (ETP) units takes into account the bearish outlook for pipeline operators. While the partnership’s liquidity position is sound, we continue to believe that the near- to medium-term outlook for its natural gas gathering...
25Nov2009 | vitalstocks | 0 comments | Continued(MRK) Merck Vioxx Relief in Texas
Although Merck (MRK) is aiming to close the Vioxx chapter, it is far from over. The company’s long list of cases is still pending. Recently, Merck received a favorable ruling in a district court of Texas. The judge dismissed all claims in a lawsuit related to Vioxx filed on...
25Nov2009 | vitalstocks | 0 comments | Continued(MGA) Magna International Bags General Motors Contract
Magna International (MGA) has reported that it has won a contract to make the new generation of frames for General Motors’ full-size light-duty pickups and sport utility vehicles despite their disputed relationship over the Opel deal. According to Magna, the new third generation...
25Nov2009 | vitalstocks | 0 comments | Continued(SM) St. Mary Land & Exploration Grows With Shale Plays
St. Mary Land & Exploration Co. (SM) reported third-quarter earnings of 23 cents per share, beating the Zacks Consensus Estimate of 19 cents but down from the year-earlier earnings of $1.20. Non-cash charges and impairments result in a reported net loss of 7 cents per diluted...
25Nov2009 | vitalstocks | 0 comments | Continued(CELL) Brightpoint Wins WiMAX Contract
Brightpoint Inc. (CELL) received a shot on its arm as the company received a major contract to provide an integrated supply chain management system for the next-generation (4G) WiMAX network. Yesterday, the company announced that it has entered into an agreement with Time Warner...
25Nov2009 | vitalstocks | 0 comments | Continued(TLK) P.T. Telekomunikasi Indonesia Tbk. Downgraded
We downgrade our recommendation for P.T. Telekomunikasi Indonesia Tbk. (TLK) to Neutral following the company’s current valuation and increasing competition in the Indonesian telecom market. Deregulation of telecom segment by the Indonesian Government has enabled several competitors...
25Nov2009 | vitalstocks | 0 comments | Continued(CX) CEMEX, S.A.B. de C.V. Completes EURUS Construction
CEMEX, S.A.B. de C.V. (CX) announced the installation of the 167 wind turbines in the EURUS wind farm, which was completed on Nov 15, 2009 in Juchitan, Oaxaca, Mexico. EURUS has a capacity of 1.5 megawatts (MW) each built with ACCIONA Windpower technology. The wind farm represents...
25Nov2009 | vitalstocks | 0 comments | Continued(JST) Jinpan International Limited – Beats Consensus Estimate by 125.49%
Jinpan International Limited (JST) is taking advantage of worldwide interest in wind energy as international sales rose 40% in the third quarter. The company is trading with a forward P/E of 11.67. Company Description Jinpan International manufactures cast resin transformers...
25Nov2009 | vitalstocks | 0 comments | Continued(E) ENI Buys Uganda Blocks From Heritage Oil
ENI S.p.A (E) entered into a definitive agreement with Heritage Oil to buy the latter’s 50% interest in blocks 1 and 3A in Uganda . Total consideration for the contract is $1.35 billion. The contract also provides an additional consideration of $150 million, either in cash...
25Nov2009 | vitalstocks | 0 comments | Continued(NOC) Northrop Grumman Corp Wins Military Contract
Northrop Grumman Corp. (NOC) was awarded a $302.9 million fixed price incentive fee contract for five RQ-4 Global Hawk high-altitude, long-endurance (HALE) unmanned aircraft systems (UAS), by the U.S. Air Force. Earlier, the U.S. Air Force granted RQ-4 Global HALE with a military...
25Nov2009 | vitalstocks | 0 comments | Continued(WFR) MEMC Electronic Materials – Bull of the Day
MEMC Electronic Materials, Inc. (WFR) produces the raw material wafers used by semiconductor manufacturers in the production of integrated circuits (ICs). The decision to supply wafers to the solar industry paid huge rewards in 2007 and 2008, as demand for polysilicon raced ahead...
25Nov2009 | vitalstocks | 0 comments | Continued(TUP) Tupperware Brands – Bullish Forecasts and Strong Momentum
Tupperware Brands Corporation (TUP) stacks up well against the market, outpacing the S&P 500 by more than 150% over the past year. The company also continues to see a bullish Zacks Consensus Estimate. Company Description Tupperware Brands Corporation is a global direct seller...
25Nov2009 | vitalstocks | 0 comments | Continued(F) Consumer Confidence Increasing
The Conference Board’s index of Consumer Confidence increased to 49.5% from a significantly upwardly revised level of 48.7 in October. Originally, the October level was at 47.5%. Consensus expectations were for the consumer confidence level to actually fall to 47.5%. The index...
25Nov2009 | vitalstocks | 0 comments | Continued(WMT) Initial Jobless Claims Plunge
Initial Jobless Claims Plunge This week initial jobless claims for unemployment insurance plunged by 35,000 to 466,000. Actually, considering that last week’s number of initial jobless claims was revised down to 501,000 from 505,000, one could argue that the decline in initial...
25Nov2009 | vitalstocks | 0 comments | Continued(TKC) Turkcell Iletisim Hizmetleri AS Misses Estimates
Turkcell Iletisim Hizmetleri AS (TKC) reported third quarter 2009 earnings per share of 15 cents per share, sharply down from the Zacks Consensus Estimate of 49 cents per share. In the quarter, revenue contracted by 3.7% year on year to TRY2,368.0 million as a result of the declining...
25Nov2009 | vitalstocks | 0 comments | Continued($DV) DeVry Inc. – Net Income Up 57%
DeVry Inc. (DV) continues to top estimates and the Zacks Consensus Estimate is on the rise. Company Description DeVry is the parent company for several schools and other educational services including DeVry University, Apollo College, Becker Professional Education, and others. Net...
25Nov2009 | vitalstocks | 0 comments | Continued(INTU) Intuit Issues Disappointing Forecast
Intuit Inc. (INTU) recently reported results for the first quarter. Revenues increased 2% to $493 million, driven by growth in core businesses. Revenues from Financial Institutions segment increased 7% while Employee Management Solutions Payroll service increased 9%. Loss per...
25Nov2009 | vitalstocks | 0 comments | Continued