Archive for December, 2009
($F) Ford Uses Stock to Pay Retiree Health Care Fund
The Labor Department has exempted Ford Motor (F) from making a cash payment to a retiree health care fund known as a Voluntary Employee Beneficiary Association (VEBA). The fund, created by Ford in contract with the United Automobile Workers (UAW) in 2007, is expected to help...
19Dec2009 | vitalstocks | 0 comments | ContinuedGeneral Motors Shuts Down Saab
GM Shuts Down Saab General Motors has decided to discontinue its Swedish brand, Saab Automobile, after talks failed with a Dutch automaker, Spyker Cars, to sell the unit. The Detroit automaker was struggling hard to conclude the sale by the end of this month. A few days back,...
19Dec2009 | vitalstocks | 0 comments | Continued($CCE) Coca-Cola Enterprises Updates 2009 and Provides 2010 Projections
Coca-Cola Enterprises (CCE) updated its fiscal 2009 guidance and also provided an outlook for fiscal 2010. For full fiscal 2009, the company now expects earnings in the range of $1.56 to $1.59. The guidance includes negative foreign currency impact of 14 cents to 15 cents. Excluding...
19Dec2009 | vitalstocks | 0 comments | Continued(AYE) Allegheny Energy Inc Issues Bonds
Allegheny Energy Inc. (AYE) issued $85.9 million of environmental control bonds through two of its affiliates. The affiliates, MP Environmental Funding LLC and PE Environmental Funding LLC, will issue $64.4 million and $21.5 million of the bonds, respectively. The bonds will...
18Dec2009 | vitalstocks | 0 comments | Continued(CEO) CNOOC Signs Contract for China Sea
China’s largest offshore oil explorer CNOOC Ltd. (CEO) has signed a production sharing contract (PSC) with BG International Limited (BG Group) for Block 63/16, located in the Qiong Dong Nan basin in Western South China Sea. This PSC with BG Group is not a one-off event as two...
18Dec2009 | vitalstocks | 0 comments | Continued(UDR) REIT UDR Incorporated Pays Uninterrupted Dividend
UDR Inc. (UDR), a leading multifamily real estate investment trust (REIT), recently announced a quarterly dividend of 18 cents for the fourth quarter of 2009, payable in cash on Feb 1, 2010 to shareholders of record on Jan 15, 2010. The recent dividend payout will be the 148th...
18Dec2009 | vitalstocks | 0 comments | Continued(BAC) Bank of America Merrill Lynch Plan Retirement Planning Launch
Bank of America Merrill Lynch, the investment banking and wealth management division of the Bank of America (BAC), has recently announced the launch of a program which involves a group of 500 advisers for its institutional retirement planning aimed at luring more bank clients...
18Dec2009 | vitalstocks | 0 comments | Continued(D) Dominion Resources Expands and Reaffirms Dividend
Recently, Dominion Resources Inc. (D) announced plans to expand its natural gas gathering, processing and liquids facilities in West Virginia. Dominion plans to spend $253 million for its expansion project, which is called the Gathering Enhancement Project. More recently, Dominion...
18Dec2009 | vitalstocks | 0 comments | Continued(APOL) Apollo Group Resolves Lawsuit
Apollo Group Inc. (APOL), a leading private education company in the world, has agreed to pay $67.5 million to the U.S. government and an additional $11.0 million as attorney fees to resolve a lawsuit involving its subsidiary, the University of Phoenix. In the lawsuit filed in...
18Dec2009 | vitalstocks | 0 comments | Continued(SM) St. Mary Land & Exploration Hikes 2010 Capital Spending
St. Mary Land & Exploration Co. (SM) released its initial capital expenditure (capex) budget and production guidance for 2010. The Board of Directors has approved a total capex of $725 million. Of this, approximately 77% or $561 million is earmarked for exploration and drilling...
18Dec2009 | vitalstocks | 0 comments | Continued(OSIP) OSI Pharmaceuticals Tarceva Sees Setback
Recently, OSI Pharmaceuticals, Inc. (OSIP) announced that the advisory panel of the U.S. Food and Drug Administration (FDA) did not recommend the additional usage of its lung cancer drug Tarceva in patients already responding to chemotherapy. The panel voted 12-1 against using...
18Dec2009 | vitalstocks | 0 comments | Continued(FRE) Freddie Mac Suspends Evictions
Freddie Mac (FRE) said on Thursday that it has ordered the suspension of all evictions involving occupied single family and 2-4 unit properties that have been foreclosed and had Freddie Mac-owned mortgages for about two weeks during the holiday season. The period of suspension...
18Dec2009 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services Falls Short by a Nickel
Discover Financial Services (DFS) yesterday announced fourth-quarter earnings of 15 cents per share, which missed the Zacks Consensus Estimate of 20 cents. However, this came in better than the loss of 19 cents, reported in fourth quarter 2008. The sluggish result was primarily...
18Dec2009 | vitalstocks | 0 comments | Continued(MDCO) The Medicines Co Recalls Cleviprex Lots
The Medicines Co. (MDCO) recently announced the voluntary recall of eleven lots of Cleviprex (clevidipine butyrate) injectable emulsion. During a routine annual inspection, the presence of visible particulate matter was observed in some vials. However, The Medicines Co. stated...
18Dec2009 | vitalstocks | 0 comments | Continued(OCLR) Oclaro Acquires Xtellus
Oclaro, Inc. (OCLR) recently announced that it acquired Xtellus, Inc. Under the terms of the acquisition agreement, stockholders of Xtellus will receive Oclaro shares worth $33 million. The agreement also provides for a value guarantee under which stockholders could receive additional...
18Dec2009 | vitalstocks | 0 comments | Continued(ENR) Energizer Holdings – Bear of the Day
Energizer Holdings‘ (ENR) fourth-quarter results missed the Zacks Consensus Estimates due to lower sales in Household Products and an adverse currency impact. The company expects growth in earnings for fiscal 2010 driven by continued reduction in overhead costs. The company...
18Dec2009 | vitalstocks | 0 comments | Continued(EC) Ecopetrol S.A. – Exploratory Oil and Gas Production Up 14%
Ecopetrol S.A. (EC) estimates are climbing and the company recently laid out its 2010 investment plan, that includes an 11% increase. Company Description Ecopetrol is a Colombian petroleum company. The company extracts, collects, treats, stores and pumps oil and gas. $7 Billion...
18Dec2009 | vitalstocks | 0 comments | Continued(ALVR) Alvarion Limited – Bull of the Day
We maintain our rating of Outperform for Alvarion Ltd (ALVR), a pure-play wireless solutions provider. This follows a series of impressive contract awards to deploy several large-scale wireless systems. Alvarion has more than 250 WiMAX deployments in diversified geographic regions. According...
18Dec2009 | vitalstocks | 0 comments | Continued(DPL) DPL Incorporated to Build Solar Power Facility
DPL Inc.’s (DPL) utility subsidiary – Dayton Power and Light Co. (DP&L) announced plans to construct a 1.1 MW solar power facility near its Yankee substation in Washington Township, Montgomery County, Ohio. Construction of the project will begin this month and is expected...
18Dec2009 | vitalstocks | 0 comments | Continued($NKE) Nike Second Quarter Earnings Down
Nike Inc. (NKE) reported fiscal second quarter net income of $375.4 million or 77 cents per share, compared to $391 million or 81 cents per share in the year-earlier quarter. Although earnings per share decreased 5% year over year, it exceeded the Zacks Consensus Estimate by...
18Dec2009 | vitalstocks | 0 comments | Continued(AMT) American Tower to Purchase Towers in India
Industry sources predicted that American Tower Corp. (AMT) is likely to purchase 4,000 mobile phone towers from Essar Telecom Infrastructure for $350 million – $400 million. Essar Telecom Infrastructure is a small-sized wireless tower operator of India. The deal is expected...
18Dec2009 | vitalstocks | 0 comments | Continued($RIMM) Research In Motion Limited Surges on BlackBerry Sales
Research In Motion Limited (RIMM) recently reported better-than-expected third-quarter 2010 results. The quarterly earnings of $1.10 per share beat the Zacks Consensus Estimate of $1.04, and soared 59.4% from 69 cents delivered in the prior-year quarter, resulting in more than...
18Dec2009 | vitalstocks | 0 comments | Continued(HPY) Heartland Payment Systems Pays American Express for Cyber Raid
Payments processors Heartland Payment Systems (HPY) said on Thursday that it has arrived at a settlement with American Express Company (AXP) related to a criminal breach of Heartland’s payment system environment by cyber thieves in 2008. According to the deal, Heartland...
18Dec2009 | vitalstocks | 0 comments | Continued(DVN) Devon Energy-Anadarko Petroleum Announce New Oil Discovery
Devon Energy Corp. (DVN) and Anadarko Petroleum Corp. (APC) announced a new pre-salt oil discovery on Block BM-C-32 in the Campos Basin, offshore Brazil. The well drilled at the Itaipu discovery reached a total depth of 16,300 feet in 4,400 feet of water. It encountered approximately...
18Dec2009 | vitalstocks | 0 comments | Continued(MGLN) Magellan Health Services Inc – Beat Expectations by 33.33% in the Third Quarter
Magellan Health Services Inc. (MGLN) recently raised guidance for 2009 as business improved. MGLN also sees growth in 2010. Company Description Magellan Health Services is a specialty health care management company. Its customers include health plans, corporations and government...
18Dec2009 | vitalstocks | 0 comments | Continued(ORCL) Oracle Impresses the Market With Second Quarter Earnings
Oracle Corp. (ORCL) rose 4.02% after market yesterday following the company’s second-quarter of fiscal 2010 earnings announcement. The market reacted positively to the company’s better-than-expected earnings and growing market share. The company said that for the fourth consecutive...
18Dec2009 | vitalstocks | 0 comments | Continued(BIO) Bio Rad Laboratories – Third-Quarter Results Beat by 38%
Bio Rad Laboratories, Inc. (BIO) jumped higher on better than expected Q3 results from late November. Company Description Bio-Rad Laboratories Inc., together with its subsidiaries, manufactures products and systems for the life sciences and healthcare industry worldwide. The...
18Dec2009 | vitalstocks | 0 comments | Continued(DCM) 4G Cellular Technology LTE Thriving in Asia
Long-Term Evolution (LTE), the most sought after next-generation (4G) super-fast wireless communications technology is quickly gaining momentum in the Asia regions. The 4G wireless networks are aiming to cope with substantial demand for high-speed wireless data services and mobile...
18Dec2009 | vitalstocks | 0 comments | Continued(PALM) Palm Disappoints but Reaffirms Projections
We do not see a turnaround at Palm Inc. (PALM) in the near future. The shares fell 8.7% after market closed yesterday, following the company’s second-quarter of fiscal 2010 earnings announcement. Although its loss narrowed, driven by improved sales of the new line of webOS...
18Dec2009 | vitalstocks | 0 comments | Continued(MCO) Washington Mutual Looks to Probe JPMorgan
On Monday, failed bank Washington Mutual Inc. filed a motion in federal court to seek permission for questioning third parties Incorporatedluding some regulators and banks connected with the Washington Mutual seizure. These third parties include regulators such as the Federal...
18Dec2009 | vitalstocks | 0 comments | Continued