Archive for December, 2009
(JOYG) Joy Global’s Earnings Surpass Consensus Estimates
Joy Global Inc. (JOYG) posted an EPS of $1.20 for the fourth quarter of 2009, surpassing the Zacks Consensus Estimate of $1.01 and $1.11 recorded in the year-ago quarter, primarily driven by better pricing, improved supply chain management and cost control measures. For fiscal...
17Dec2009 | vitalstocks | 0 comments | Continued(TWX) Time Warner to Buy NDTV Imagine
Time Warner Inc. (TWX), a global leader in media and entertainment businesses, recently declared that its Board of Directors has consented to the acquisition of NDTV Imagine Limited, which owns one of the leading Hindi-language entertainment channels and other entertainment subsidiaries...
17Dec2009 | vitalstocks | 0 comments | Continued(JPM) JPMorgan Chase & Company Adds More Mortgage Centers
JPMorgan Chase & Company (JPM) said on Wednesday that it will substantially increase its nationwide network by adding 24 more Chase Homeownership Centers to help homeowners who are at risk of mortgage payments. The company intends to open the mortgage assistance centers in...
17Dec2009 | vitalstocks | 0 comments | Continued(SIRI) SIRIUS XM Radio Initiated as Neutral
We initiate coverage for SIRIUS XM Radio Inc. (SIRI) with a Neutral recommendation, which means the stock will perform mostly in line with the broader market. Severe global economic downturn has significantly affected the company. Slowdown in the auto industry, the major revenue...
17Dec2009 | vitalstocks | 0 comments | Continued(MYGN) Myriad Genetics Upgraded to Neutral
We have upgraded Myriad Genetics (MYGN) to Neutral from Underperform based on the impressive performance of its molecular diagnostics business. Effective July 1, 2009, the company spun off its therapeutics business to focus on molecular diagnostics. We believe that the de-risking...
17Dec2009 | vitalstocks | 0 comments | Continued(ENER) Energy Conversion Devices – Bear of the Day
Although we expect significant declines in both revenues and earnings in fiscal 2010 for Energy Conversion Devices (ENER), revenue should improve in 2011, assuming an improvement in overall economic conditions. The company has announced a significant reduction in headcount. However,...
17Dec2009 | vitalstocks | 0 comments | Continued(CALD) Callidus Software Partners with Seven Seas Technologies
Callidus Software (CALD) recently announced a partnership with Seven Seas Technologies, a leading provider of integrated business and technology solutions. Under the agreement, Seven Seas Technologies will resell, implement and support Callidus Software’s sales performance...
17Dec2009 | vitalstocks | 0 comments | Continued(LGF) Viacom Speeds Up Epix Distribution
Viacom Inc. (VIAB) has accelerated the distribution of Epix, its next-generation multiplatform premium entertainment channel. Epix is a three-way venture among Paramount Pictures of Viacom, Metro-Goldwyn-Mayer Studios Inc., and Lions Gate Entertainment Corp. (LGF). Launched in...
17Dec2009 | vitalstocks | 0 comments | Continued(WLT) Walter Energy Starts Longwall Coal Production
Coal Producer and exporter Walter Energy Inc. (WLT) announced the start-up of production at its Mine No.7 in East Longwall. The company started the Longwall expansion program in 2005. The $175 million expansion is expected to generate an additional production of about 2.0 million...
17Dec2009 | vitalstocks | 0 comments | Continued(SGY) Stone Energy Corporation – Bull of the Day
We recommend an Outperform rating for Stone Energy (SGY) shares following strong third-quarter 2009 results. Stone has moved away from liquidity management in the first half of 2009 to a disciplined organic growth mode. The Gulf of Mexico (GoM) shelf helped the company deliver...
17Dec2009 | vitalstocks | 0 comments | Continued(WMT) Initial Jobless Claims Rise Again
Initial Jobless Claims Back Up Initial jobless claims for unemployment insurance rose by 7,000 last week to a seasonally adjusted rate of 480,000. This was the second week in a row that they have risen. However, they had been on a steep downward slope before that, and the four-week...
17Dec2009 | vitalstocks | 0 comments | Continued(MDT) Medtronic Analysts Downgrade to Neutral
We have recently downgraded Medtronic (MDT) to Neutral as a result of limited upside potential to the stock at the current level. At present, Medtronic’s stock is trading at roughly 12.5x our fiscal 2011 EPS estimate of $3.50, higher than the peers’ mean of 11.5. This provides...
17Dec2009 | vitalstocks | 0 comments | Continued(BA) Boeing Wins Contract For 35 Total Chinook Helicopters
Boeing Co. (BA) booked a $704.4 million U.S. Army contract to build 21 new and 14 remanufactured CH-47F Chinook helicopters. Earlier, the British Ministry of Defense said it will buy 22 new Chinook helicopters to supplement its operations in Afghanistan. These apart, two more...
17Dec2009 | vitalstocks | 0 comments | Continued(BAC) Bank of America Corporation Finally Appoints Next CEO
After a month’s extensive search, Bank of America Corporation (BAC), the largest bank in the nation, said on late Wednesday that its consumer banking head Brian Moynihan will succeed retiring Ken Lewis as CEO effective Jan 1, 2010. The complications following the takeover of...
17Dec2009 | vitalstocks | 0 comments | Continued($C) Consumer Credit Lenders Face More Charge-offs
The November data for most credit card issuing companies point to an increase in net charge-offs. Consumer credit quality remains under significant strain as a result of a persistent weakness in labor markets. Citigroup Inc. (C) announced that net charge-offs for the month of...
17Dec2009 | vitalstocks | 0 comments | Continued(CHU) China Unicom Joins Femtocell (Mini Home Base Station) Party
China got its first femtocell (mini home base station) product as the country’s second largest wireless carrier, China Unicom (CHU) launched a femtocell solution (called “3G Inn”) in the capital Beijing. The device has been supplied by the leading Chinese vendor...
17Dec2009 | vitalstocks | 0 comments | Continued($AIG) American International Group Asia IPO to Raise $20 Billion
American International Group Inc. (AIG) has moved to advanced levels to list its Asian life insurance unit American International Assurance (AIA) in Hong Kong in an initial public offering (IPO) that could raise money up to $20 billion. Moving a step further today, the company...
17Dec2009 | vitalstocks | 0 comments | Continued(C) U.S. Treasury Department Delays Citigroup Stock Sale
Treasury Puts Brakes on Citigroup Sale The U.S. Treasury has postponed its plan to sell $5 billion of its 34% stake in Citigroup Inc. (C) after a lackluster response from investors following Citi’s stock offering. Citigroup stock has been under pressure this morning, in...
17Dec2009 | vitalstocks | 0 comments | Continued(ETF) Gold and Oil: Why These Two Commodities Are Set to Blast Higher in 2010
by Lee Lowell, Stock and Commodity Option Specialist Thursday, December 17, 2009: Issue #1160 If you’re looking for some calm during the market’s ongoing storm, don’t expect to find much in the commodities sector. Not that this is a bad thing. If you know what you’re...
17Dec2009 | InvestmentU | 0 comments | Continued(WFC) Wells Fargo Offer 489.9 Million Shares to Raise $12.25 Billion
Proceeding swiftly with the completion of its repayment program, on Tuesday, Wells Fargo & Co. (WFC) projected the raising of $12.25 billion through an offering of 489.9 million shares at a price of $25 per share. The company expects to close the sale of stock on Dec. 18,...
16Dec2009 | vitalstocks | 0 comments | Continued(AMB) AMB Property Corp Leases Strong in China
AMB Property Corp. (AMB), a leading real estate investment trust (REIT), has recently leased approximately 207,200 square feet of its development portfolio in China, amid signs of market stabilization. About 100,100 square feet were leased to a premier automotive distributor...
16Dec2009 | vitalstocks | 0 comments | Continued(ABC) AmerisourceBergen Corp Ups Earnings View
AmerisourceBergen Corp. (ABC) increased its earnings expectations for the first quarter of fiscal 2010 and stated that it expects earnings to exceed consensus estimates of 43 cents, mainly due to higher sales of generic drugs. Revenues are expected to grow more than 10% during...
16Dec2009 | vitalstocks | 0 comments | Continued(AMLN) Amylin Pharmaceuticals Impresses in Head-to-Head
Amylin Pharmaceuticals, Inc. (AMLN) recently announced positive results on its once weekly formulation of Byetta (referred to as exenatide once weekly), which is being developed in collaboration with Eli Lilly and Company (LLY) and Alkermes, Inc. (ALKS). Amylin presented results...
16Dec2009 | vitalstocks | 0 comments | Continued(BAC) Bank of America Will Increase Small Business Loans
Following its top executives’ meeting with President Obama, Bank of America Corporation (BAC) said that it will increase loans to small and mid-sized businesses by at least $5 billion in 2010. Small-business owners have been hit hard by the market turmoil. As a result, providing...
16Dec2009 | vitalstocks | 0 comments | Continued(HSP) Hospira Aquires Pharmaceuticals Business
Hospira (HSP) has been making certain strategic moves in the recent past; the latest deal will establish its presence in one of the most sought after emerging market ? India. Hospira decided to acquire India-based Orchid Chemicals’ generic injectable finished-dosage form pharmaceuticals...
16Dec2009 | vitalstocks | 0 comments | Continued(WY) Weyerhaeuser Company to Convert to REIT
Weyerhaeuser Co. (WY), a leading forest products company, has announced its plans to convert to a real estate investment trust (REIT). The company said that its board of directors determined that converting to REIT status would best support Weyerhaeuser’s strategic direction. Management...
16Dec2009 | vitalstocks | 0 comments | Continued(BRCM) Broadcom Upgrades Earnings Guidance
Broadcom Corp.(BRCM) yesterday raised its guidance for the fourth quarter of fiscal 2009. The company now expects revenues to increase 5% on a sequential basis to $1.32 billion, up from the prior guidance of $1.25 billion. We had earlier observed that Broadcom was being conservative...
16Dec2009 | vitalstocks | 0 comments | Continued(FNM) No Rate Change at the Federal Reserve
The Fed just wrapped up its last FOMC meeting of the year, and as expected it did not change the fed funds rate. The policy statement was substantially the same as the one they released after the last meeting in early November. While the Fed Funds rate is not going up anytime...
16Dec2009 | vitalstocks | 0 comments | Continued(MDR) McDermott International Unit Wins Nuclear Deal
The Babcock & Wilcox Co. – a subsidiary of energy-focused engineering and construction firm McDermott International Inc. (MDR) – announced the receipt of a nuclear contract from leading power supplier Energy Northwest. As per the deal, Babcock & Wilcox will support...
16Dec2009 | vitalstocks | 0 comments | Continued(DE) Deere to Invest in Israel-based BHC Manufacturing
Deere & Co. (DE) announced that it made a conditional offer to buy certain assets and customer relationships of Israel-based BHC Manufacturing. BHC manufactures cotton picker repair parts for all makes of equipment and supplies cotton picker row units for other equipment...
16Dec2009 | vitalstocks | 0 comments | Continued