Archive for December, 2009
(MET) MetLife Offers Strong 2010 Outlook
MetLife Inc. (MET) has forecast a significant improvement in its operating earnings next year, largely attributable to an increase in premiums, cost cuts and improved investment returns. However, the company doesn’t expect to grow at its historical growth levels before 2011. MetLife...
8Dec2009 | vitalstocks | 0 comments | Continued(VNO) Vornado Realty Trust’s Land Sale Deal Nixed
Vornado Realty Trust (VNO), one of the largest real estate investment trusts (REITs) in the U.S., has recently announced the termination of a deal to sell an 8.6 acre parcel of land in the Pentagon City area of Arlington, Virginia. With the termination of the deal, the purchaser...
8Dec2009 | vitalstocks | 0 comments | Continued(JPM) Bernanke Just Squashed the Gold Rally – Now What?
by Robert Williams, Publisher Tuesday, December 8, 2009 Gold prices are in retreat – their steepest two-day decline since March – on the announcement by Fed Chairman Ben Bernanke that inflation “appears likely to remain subdued for some time.” He also reminded us that...
8Dec2009 | InvestmentU | 0 comments | Continued(PRE) PartnerRe Acquires PARIS RE
Bermuda based reinsurer PartnerRe Ltd. (PRE) announced that it has completed the acquisition of Switzerland-based diversified reinsurer PARIS RE. The process went according to plans and got completed on time. Announced in July 2009, the transaction costing $2 billion took place...
8Dec2009 | vitalstocks | 0 comments | Continued(RZ) Raser Technologies Gains Control of Power Plant
Raser Technologies Inc. (RZ) amended its Thermo No. 1 geothermal power plant project’s financing arrangements with the senior project debt holders and the project tax-equity partner. Having faced financial constraints for the project, the company had roped in Merrill Lynch...
8Dec2009 | vitalstocks | 0 comments | Continued(NYT) New York Times Company Updates Guidance
The New York Times Company (NYT) updated its guidance for the fourth quarter and fiscal 2009. Management expects the print advertising market to remain challenging. The company states that although trends have improved modestly over the quarter, it currently forecasts print advertising...
8Dec2009 | vitalstocks | 0 comments | Continued(F) Ford Gets Swedish Suitor for Volvo
Ford Motor Co. (F) has received a third bid for its Volvo unit from a Swedish consortium, Konsortium Jakob AB. The consortium has been formed on an initiative from the engineers’ trade union at Volvo cars. The consortium has posed a challenge to Chinese carmaker Zhejiang...
8Dec2009 | vitalstocks | 0 comments | Continued(AUY) We Called Gold’s Tumble – Here’s How to Play the Precious Metal’s Next Move
by Karim Rahemtulla, Options Expert Tuesday, December 8, 2009: Issue #1153 Amid all the media hoopla and rampant running of the bulls, not many people saw the shock lurking around the corner. So when it happened last Friday, many people got a nasty surprise. I’m talking about...
8Dec2009 | InvestmentU | 0 comments | Continued(CF) CF Industries Holdings Renews Terra Industries Bid
CF Industries Holdings Inc. (CF) recently increased its offer for rival Terra Industries Inc. (TRA) to about $4.59 billion as it seeks to end an almost 11-month pursuit of the nitrogen-fertilizer maker. The offer represents an 18% premium over Terra’s closing price on Dec 4....
8Dec2009 | vitalstocks | 0 comments | Continued(TLK) P.T. Telekomunikasi Indonesia to Upgrade Networks
P.T. Telekomunikasi Indonesia Tbk. (TLK) has decided to upgrade its wireless networks to counter increasing competition in the Indonesian telecom market. The company has decided to spread out its radio access network infrastructure throughout Indonesia. As of now, Telekomunikasi...
8Dec2009 | vitalstocks | 0 comments | Continued(URS) URS Corporation Joint Venture Bags Tennessee Valley Authority Order
URS Corp. (URS) announced that G.UB.MK Constructors, a joint venture between URS, WorleyParsons and Williams Plant Services, has been selected by the Tennessee Valley Authority Board for award of a contract to perform maintenance and modifications services at TVA electric generation...
8Dec2009 | vitalstocks | 0 comments | Continued(TDG) TransDigm Group Acquires Dukes and GST Industries
TransDigm Group Inc. (TDG) announced acquisition of substantially all the assets of Dukes, Inc. and GST Industries, Inc. (“Dukes”) for approximately $96 million in cash, plus the possibility of future payments up to a total of $60 million over four years based on...
8Dec2009 | vitalstocks | 0 comments | Continued(ICON) Iconix Brand Group Renews Three Licenses
Iconix Brand Group, Inc. (ICON) announced yesterday that it has renewed three separate direct-to-retail license agreements for its Candie’s, Fieldcrest and Waverly brands. The exclusive multi-year license agreement for Candie’s, the junior lifestyle brand, has been...
8Dec2009 | vitalstocks | 0 comments | Continued(F) Obama on Job Creation
President Obama spoke today at the Brookings Institute about new initiatives to spur job creation. Below are key parts of the speech and my reaction to it. The full speech can be read here. “It wasn’t long after that meeting, as we shaped this economic plan, that...
8Dec2009 | vitalstocks | 0 comments | Continued(LTD) Limited Brands’ Comparable Store Sales Rise
Limited Brands Inc. (LTD), a premier retail company, reported a 3% increase in comparable store sales in Nov 2009 compared to the year-earlier period. Overall sales were $781.1 million during the month versus $755.6 million in the previous year. However, on a year-to-date basis,...
8Dec2009 | vitalstocks | 0 comments | Continued(ALTH) Positive Data from Allos Therapeutics’ Folotyn
Allos Therapeutics (ALTH) recently released data on Folotyn (pralatrexate injection) from the PROPEL trial, which was conducted with patients suffering from relapsed or refractory peripheral T-cell lymphoma (PTCL). In addition, the company announced preliminary results from its...
8Dec2009 | vitalstocks | 0 comments | Continued(BJ) BJ’s Wholesale Club’s November Sales Inch Up
BJ’s Wholesale Club Inc. (BJ), a leading warehouse club operator in the United States, recently reported sales for the four-week period ended Nov 28, 2009. Sales for the month spiked 6.4% to $833.6 million from $783.2 million reported in the same month last year. Comparable...
8Dec2009 | vitalstocks | 0 comments | Continued(AEP) American Electric Power Company Gets Federal Funds
American Electric Power Company Inc. (AEP) is set to receive $334 million from the U.S. Energy Department to develop a commercial scale project that will capture carbon from its Mountaineer coal fired plant in West Virginia and then inject the gases underground. The grant is...
8Dec2009 | vitalstocks | 0 comments | Continued(PGR) The Progressive Corporation’s Credit Ratings Affirmed
The Progressive Corporation (PGR) and its subsidiaries’ ratings have recently been affirmed by A.M. Best Company. The rating agency has affirmed Progressive’s issuer credit ratings of “a-” as well as all of its debt ratings. Additionally, the agency has affirmed...
8Dec2009 | vitalstocks | 0 comments | Continued(RTP) Rio Tinto and BHP Billiton Joint Venture Moving Forward
Rio Tinto (RTP) and BHP Billiton (BHP) signed binding agreements on their proposed partnership that cover all aspects of how the joint venture will operate and be governed. In June 2009, both the companies had signed an agreement of core principles to establish a production joint...
8Dec2009 | vitalstocks | 0 comments | Continued(ENER) Energy Conversion Devices – Bear of the Day
We expect significant declines for Energy Conversion Devices (ENER) in both revenues and earnings in fiscal 2010. Revenue should improve in 2011, assuming an improvement in overall economic conditions. The company has announced a significant reduction in headcount. However, it...
8Dec2009 | vitalstocks | 0 comments | Continued(BA) Boeing Wins Korean Air Order
Boeing Company (BA) bagged an order for five 747-8 series Intercontinental jetliners from Korean Air. The $1.5 billion deal is the first Asian airline order for the passenger version of the new, fuel-efficient 747-8 planes. Korean Air already has arrangements to operate seven...
8Dec2009 | vitalstocks | 0 comments | Continued(ZGEN) ZymoGenetics Inc Inks Licensing Deal with Novo Nordisk A/S
ZymoGenetics Inc. (ZGEN) announced recently that it has signed a deal with Novo Nordisk A/S (NVO) whereby the latter gets global rights to an antibody drug developed by ZymoGenetics to block Interleukin-21 (IL-21), a protein that’s found in excess in patients with autoimmune...
8Dec2009 | vitalstocks | 0 comments | Continued(DUK) Duke Energy Corporation Wins Rate Hike Settlement
Duke Energy Corporation’s (DUK) utility subsidiary Duke Energy Kentucky reached a settlement agreement with the Kentucky Attorney General in its natural gas rate case. Under the settlement agreement, Duke Energy has asked the Kentucky Public Service Commission to approve the...
8Dec2009 | vitalstocks | 0 comments | Continued(CELG) Celgene Corporation to Expand
Celgene Corporation (CELG) recently announced that it will purchase the privately held Gloucester Pharmaceuticals for $340 million in cash coupled with $300 million in future milestone payments. The deal is aimed at bolstering Celgene’s portfolio of cancer drugs. The transaction,...
8Dec2009 | vitalstocks | 0 comments | Continued(CASY) Casey’s General Stores Beats Earnings Expectations in Second Quarter
Casey’s General Stores Inc. (CASY) posted fiscal second quarter results after the closing bell on Monday. The convenience stores operator recorded a net income of $33.6 million, a growth of nearly 23% over $27.3 million posted in the year-ago period primarily due to strong...
8Dec2009 | vitalstocks | 0 comments | Continued(EQIX) Equinix Integrates ACTIV’s Solution
Equinix, Inc. (EQIX) declared that it will expand ACTIV Financial’s (ACTIV) operations to Equinix’s Singapore International Business Exchange (IBX) data center as part of its global expansion to provide customers with the most direct and low latency access to its high-volume...
8Dec2009 | vitalstocks | 0 comments | Continued(BMY) Bristol-Myers Squibb Amends & Extends Offer
Bristol-Myers Squibb (BMY), which intends to split-off its 83.1% holding in the Nutritional segment to concentrate on its core biopharmaceutical business, amended and extended the exchange offer regarding the Mead Johnson Shares. The Nutritional segment operates under its subsidiary...
8Dec2009 | vitalstocks | 0 comments | Continued(MDR) McDermott International to Spin off Nuclear Unit
Energy-focused engineering and construction firm, McDermott International Inc. (MDR) announced plans to separate its power generation business from its offshore oil and gas services business, thereby creating two independent, publicly traded companies. McDermott will spin-off...
8Dec2009 | vitalstocks | 0 comments | Continued(STM) STMicroelectronics NV to Consolidate Regions in Asia
STMicroelectronics NV (STM) announced changes in its global sales and marketing organization. The move, which will be effective January 1, 2010, will consolidate ST’s regions in Asia to two: Greater China & South Asia, Japan & Korea. The Greater China and South...
8Dec2009 | vitalstocks | 0 comments | Continued