Archive for December, 2009
(CTSH) Cognizant Signs R&D Agreement With Invensys Rail
Cognizant (CTSH) recently announced a global product research and development agreement with Invensys Rail. As a part of this agreement, Cognizant signed a five year multi-million dollar contract with Invensys Rail to serve the global product R&D needs of its group companies...
14Dec2009 | vitalstocks | 0 comments | Continued(HMC) United Natural Foods Reports In-Line Earnings
United Natural Foods, Inc. (HMC) reported results for the first of fiscal 2010 with earnings of 36 cents per share. Earnings were in-line with the Zacks Consensus Estimate and were up 16.1% year-over-year. Net sales for the quarter increased 2.4% year-over-year to $885 million,...
14Dec2009 | vitalstocks | 0 comments | ContinuedChina Automaker Buys General Motors’ Saab
Beijing Automotive Industry Holding Group (BAIC) – China’s fifth largest automaker – has finally agreed to buy technology from General Motors’ Swedish brand, Saab Automobile. The cost and timing of the acquisition is not yet disclosed. Last week, General Motors...
14Dec2009 | vitalstocks | 0 comments | Continued(UNH) UnitedHealth Completes Acquisition of Health Net
On Friday, UnitedHealthcare, a subsidiary of UnitedHealth Group (UNH), announced that it has completed the previously announced acquisition of northeast U.S. operations of Health Net Inc. (HNT) HMO (health maintenance organization) entities in Connecticut, New York and New Jersey...
14Dec2009 | vitalstocks | 0 comments | Continued(MASI) Masimo Completes Conversion of New Customer
Masimo Corp. (MASI) reported that its new customer, Brookdale University Hospital and Medical Center in Brooklyn, New York, has completed its system-wide conversion to Masimo SET pulse oximetry technology. Brookdale has also installed Masimo’s first-ever continuous and noninvasive...
14Dec2009 | vitalstocks | 0 comments | Continued(BIIB) Biogen’s Rheumatoid Arthritis Candidate Effective
Biogen Idec (BIIB) and Genentech Inc., a wholly owned member of the Roche Group (RHHBY), recently reported positive phase III results on their rheumatoid arthritis (RA) candidate, ocrelizumab. Results from the study (STAGE) showed that the humanized anti-CD20 monoclonal antibody,...
14Dec2009 | vitalstocks | 0 comments | Continued(WFC) Wells Fargo Insurance Services Expands
Expanding its insurance services business in the U.S., on Dec 8, Wells Fargo Insurance Services Inc., a part of Wells Fargo & Co. (WFC) announced its strategic acquisition of two single office insurance companies. While the insurance brokerage firm iLeader Risk Management...
14Dec2009 | vitalstocks | 0 comments | Continued(ARRY) Array BioPharma Sees Positive Results for ARRY-380
Recently, Array BioPharma Inc. (ARRY) announced positive interim results on its inhibitor, ARRY-380, from an early-stage, open-label, multiple dose trial in patients with advanced cancer. The company presented the results at the 2009 San Antonio Breast Cancer Symposium. The study...
14Dec2009 | vitalstocks | 0 comments | Continued(MDT) Medtronic Inc Sees Positive Results from Investigational Study
Medtronic Inc. (MDT) has reported positive results from an investigational study of Deep Brain Stimulation (DBS) therapy for epilepsy. Results suggested a median reduction in seizure frequency of 41% for one year, 56% for two years and 68% for three years with DBS therapy, compared...
14Dec2009 | vitalstocks | 0 comments | Continued(MRO) Marathon Oil to Offload Angola Offshore Stake
Integrated energy major Marathon Oil Corp. (MRO) announced the sale of its 20% interest in a block offshore Angola for $1.3 billion. In this regard, Marathon has reached an agreement with a unit of Angola’s state-owned oil company, Sociedad Nacional De Combustiveis De Angola...
14Dec2009 | vitalstocks | 0 comments | Continued(CBI) Chicago Bridge & Iron Co Wins EPC Contract
Chicago Bridge & Iron Co. (CBI) announced the approval by Esso Highlands Limited of a contract with CB&I in its joint venture with Clough, for the engineering, procurement and construction of the PNG LNG Project’s gas conditioning plant, pending final project authorizations....
14Dec2009 | vitalstocks | 0 comments | Continued(JPM) JPMorgan Chase Warrents Sold by U.S. Treasury $936.1 Million
JPMorgan Chase (JPM) warrants held by U.S. government’s bank bailout program were sold for $936.1 million on Dec. 11, 2009. The Treasury Department’s second auction of warrants held by the Troubled Asset Relief Program (TARP) drew $10.75 each for 88.4 million of the securities. These...
14Dec2009 | vitalstocks | 0 comments | Continued(C) Citigroup Nears Deal to Repay TARP
Citigroup Inc. (C) is almost close to finalizing a deal with the U.S. government to start repaying the bailout money it has received from the government for its participation in the Troubled Asset Relief Program (TARP) at the height of the credit crisis last year. Citigroup is...
14Dec2009 | vitalstocks | 0 comments | Continued(BHI) U.S. Oil Rig Count Grows by 20
In its weekly release on Friday, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported another rise in the number of rigs searching for oil and gas in the U.S., reflecting ramped-up drilling activity by the producers amid recent optimism about an economic recovery...
14Dec2009 | vitalstocks | 0 comments | Continued(CTRP) Ctrip.com International – Sales Were Up 47% From Last Year
Ctrip.com International (CTRP) recently pulled from its 52-week high above $78, but the long-term trend is still bullish, helped by rising estimates and better than expected Q3 results, reported on Nov 11. Third-Quarter Results Sales were up 47% from last year to $80 million....
14Dec2009 | vitalstocks | 0 comments | Continued($JOE) The St. Joe Company – Bear of the Day
The St. Joe Company (JOE) is one of the largest real estate developers in Florida, which has been hit hard by the downturn in the U.S. housing industry. Large price declines have led to significantly high levels of inventory and operations have deteriorated rapidly. St. Joe has...
14Dec2009 | vitalstocks | 0 comments | Continued($GSK) GlaxoSmithKline Invests in Patch Vaccines
GlaxoSmithKline (GSK) recently entered into a strategic alliance with Intercell (INRLF.PK) for the development and commercialization of innovative needle-free patch-based vaccines. The deal includes a vaccine which is being developed by Intercell for travelers’ diarrhea (TD)...
14Dec2009 | vitalstocks | 0 comments | Continued(TECD) Tech Data Corporation – Bull of the Day
Tech Data (TECD) reported better-than-expected results for the third quarter, beating the Zacks Consensus Estimates. Moreover, the company gave encouraging revenue guidance for the upcoming quarter. We expect revenue to rebound modestly in fiscal 2011. The company’s balance...
14Dec2009 | vitalstocks | 0 comments | Continued(T) AT&T & Verizon Update Centennial Communications Asset Swap
US telecom giant AT&T (T) announced that it will complete the impending sale of specific wireless assets of recently acquired Centennial Communications to its archrival Verizon (VZ) in first-quarter 2010. Moreover, AT&T reported that it expects to conclude the acquisition...
14Dec2009 | vitalstocks | 0 comments | Continued(WEN) Wendy’s/Arby’s Group Will Exit Japanese Market
Wendy’s/Arby’s Group Inc. (WEN), one of the leading quick-service restaurant companies, recently declared that it will not renew its agreement with its Japanese franchisee, Zensho Co Ltd, after both of them failed to reach an amicable solution on the development of Wendy’s...
14Dec2009 | vitalstocks | 0 comments | Continued(C) U.S. Treasury Pay Czar Imposes New Restrictions
The U.S. Treasury’s pay czar, Kenneth Feinberg, announced a new set of pay restrictions on top executives at four firms that have received substantial support from the Troubled Asset Relief Program (TARP). The primary intention of the Pay Czar is to enable the bailed out...
14Dec2009 | vitalstocks | 0 comments | Continued(MCD) McDonald’s Prepares to Launch its Breakfast Dollar Menu
McDonald’s Corporation (MCD), the world’s largest hamburger chain, will kick start its breakfast Dollar Menu across the United States early next month to revamp its breakfast sales, which have slowed considerably. Heavy job losses, economic downturn, and the discount...
14Dec2009 | vitalstocks | 0 comments | Continued($BAC) Bank of America to be Hit With Further SEC Charges
The woes of Bank of America Corp. (BAC) since the Merrill Lynch acquisition does not appear to fading anytime soon. On Dec 12, 2009, the Securities and Exchange Commission (SEC) announced its plans to cite Bank of America and some of its executives with additional charges for...
14Dec2009 | vitalstocks | 0 comments | ContinuedThe Next Technology Boom: Why Innovation Will Blast Us Out of the Recession
This analysis is by Sheena Martin, Contributing Editor, Investment U Friday, December 11, 2009 As I mentioned briefly in this column a couple of days ago, the next technology boom is upon us. It’s one borne out of the shift to 4G broadband – and it’s a catalyst that...
14Dec2009 | InvestmentU | 0 comments | Continued(JPM) U.S. Treasury Sells JPMorgan Chase Warrants
JPMorgan Chase (JPM) warrants held by U.S. government’s bank bailout program were sold for $936.1 million on Dec11. The Treasury Department’s second auction of warrants held by the Troubled Asset Relief Program (TARP) drew $10.75 each for 88.4 million of the securities. These...
14Dec2009 | vitalstocks | 0 comments | Continued(XOM) ExxonMobil Acquiring XTO Energy
With a bullish view on natural gas prospects, the world’s largest publicly traded oil company ExxonMobil Corporation (XOM) will buy XTO Energy (XTO) in an all-stock deal worth $31 billion, excluding debt. The transaction is valued at $41 billion Incorporatedluding about $10...
14Dec2009 | vitalstocks | 0 comments | Continued(TJX) The TJX Companies – Industry-leading Income
The TJX Companies, Inc. (TJX) recently posted November sales of $1.8 billion, up 15% from last year’s $1.6 billion. Consolidated comparable store sales jumped 8% year-over-year. Management said business throughout the Thanksgiving week and weekend was strong and our fourth...
14Dec2009 | vitalstocks | 0 comments | Continued(PCLN) Priceline.com Inc. – Earnings Momentum Continues
Priceline.com (PCLN) analysts continue to raise estimates following the most recent earnings report, which has sent the stock on a nice upward run. Earnings Momentum Continues Since being featured as a Zacks Rank Buy, just after an earnings report, estimates continue to climb....
14Dec2009 | vitalstocks | 0 comments | Continued(ESL) Esterline Technologies Corporation – Second Quarterly Beat in a Row
Esterline Technologies Corporation (ESL), the specialized defense parts manufacturer, reported fourth quarter 2009 results on Dec 10 that beat on the Zacks Consensus Estimate by 27 cents. It was the second quarterly beat in a row. Earnings per share were $1.26 compared to the...
14Dec2009 | vitalstocks | 0 comments | Continued(JPM) U.S. Bank Failures Reach 133 in 2009
Regulators have shut down 3 more banks in Florida, Arizona and Kansas, pushing up U.S. bank failures to 133 so far this year. The struggling economy continues to weigh heavily on banks. This takes the total number of bank failures to 133, compared to 25 in 2008 and 3 in 2007. While...
14Dec2009 | vitalstocks | 0 comments | Continued