Archive for December, 2009
(OVTI) OmniVision Falls on Weak Guidance
OmniVision’s (OVTI) earnings for the second quarter of fiscal 2010 (ending October 2009) beat consensus estimates by 11 cents. However, the stock fell 12.6%, due to the weak guidance for the third quarter. Total Revenue Revenue of $183.3 million was up 73.7% sequentially and...
2Dec2009 | vitalstocks | 0 comments | Continued(COG) Cabot Oil & Gas Corporation Upgraded to Outperform
We are upgrading Cabot Oil & Gas Corp. (COG) shares to Outperform from Neutral, reflecting the company’s impressive exposure to the high-return Marcellus and Haynesville Shale plays, as well as its above-average production growth. Additionally, the current turnaround in...
2Dec2009 | vitalstocks | 0 comments | Continued(NCR) NCR Corporation Moves to Georgia
NCR Corp. (NCR) recently made announcements about its move to Georgia. Earlier this year, the world’s leading manufacturer of ATM machines announced plans of shifting its headquarters to Duluth, Georgia. The company has now transferred a number of important customer service...
2Dec2009 | vitalstocks | 0 comments | Continued(THO) Thor Industries First Quarter Profit Soars
Thor Industries Inc. (THO) posted fiscal first quarter results on Monday. The company’s earnings more than quadrupled to $23.4 million, from last year’s $5.1 million, driven by strong sales and management’s cost reduction initiatives. Earnings per share came in at 42...
2Dec2009 | vitalstocks | 0 comments | Continued(MMP) Magellan Midstream Partners, L.P. Hits 52-Week High
Units of Magellan Midstream Partners, L.P. (MMP) hit a 52-week high of $41.51 yesterday (Tuesday). The master limited partnership (MLP) has seen its unit price climb 36% since April, as investors have been buying shares of the oil and gas transporter for its attractive distribution...
2Dec2009 | vitalstocks | 0 comments | Continued(RLI) RLI Corporation Increases Dividend
RLI Corp. (RLI) recently increased its fourth quarter cash dividend by 4% from the prior quarter level to 28 cents per common share. The dividend is payable on Jan 15, 2010, to shareholders of record on Dec 31, 2009. This is the not the first time that the company has increased...
2Dec2009 | vitalstocks | 0 comments | Continued(MTU) Mitsubishi UFJ Financial Group to Issue Shares
At its Board meeting on Nov 30, Mitsubishi UFJ Financial Group Inc. (MTU) said that it plans to issue new shares and the secondary offering of shares along with a withdrawal of the shelf registration in Japan for future equity issuances. Mitsubishi, Japan’s largest bank,...
2Dec2009 | vitalstocks | 0 comments | Continued(BRCM) Broadcom Corporation Buys Dune Networks
Broadcom Corp. (BRCM) recently signed a definitive agreement to acquire Dune Networks for $178 million. The purchase price will be paid in cash. A portion of the purchase price which is attributable to unvested employee stock options will be paid in stock units. A portion of...
2Dec2009 | vitalstocks | 0 comments | Continued(PGN) Progress Energy Inc to Retire 11 Coal Plants
Progress Energy Carolinas, a wholly owned subsidiary of Progress Energy Inc. (PGN), announced plans to close all of its remaining North Carolina coal-fired power plants which do not have flue-gas desulfurization controls (scrubbers) by the end of 2017. In a report filed with...
2Dec2009 | vitalstocks | 0 comments | Continued(UTI) Universal Technical Institute’s Earnings Rise
Universal Technical Institute Inc. (UTI) recently reported fourth-quarter 2009 results that topped the Zacks Consensus Estimate on the heels of a record enrollment and increased operating margins that boosted the bottom line. Quarterly earnings of 32 cents a share outshone the...
2Dec2009 | vitalstocks | 0 comments | Continued(RDEA) Ardea Biosciences Sees Good News
Recently, Ardea Biosciences, Inc. (RDEA) announced positive results from the first dosing group of a one-week randomized, placebo-controlled drug-combination study in normal healthy volunteers of its candidate for gout treatment, RDEA594 and Uloric (febuxostat) of Takeda. The...
2Dec2009 | vitalstocks | 0 comments | Continued(LLY) New Approval for Eli Lilly’s Cymbalta
Recently, Eli Lilly’s (LLY) Cymbalta received approval from the US Food and Drug Administration (FDA) for the maintenance treatment of generalized anxiety disorder (GAD) in adults. This approval is the sixth one for the drug, which is also approved for the acute and maintenance...
2Dec2009 | vitalstocks | 0 comments | Continued(ADP) Automatic Data Processing Sees 169,000 Jobs Lost
The National Employment Report by Automatic Data Processing (ADP), the largest processor of private sector payrolls, indicates that the economy lost 169,000 jobs in November. While that is an improvement over both the 190,000 jobs lost in October as reported by the Bureau of...
2Dec2009 | vitalstocks | 0 comments | Continued(FST) Forest Oil Corporation to Sell Permian Basin Assets
Forest Oil Corp. (FST) recently entered into a definitive agreement with SandRidge Exploration and Production LLC, a wholly owned subsidiary of SandRidge Energy Inc., (SD) to sell the remainder of its Permian Basin properties in West Texas and New Mexico for approximately $800...
2Dec2009 | vitalstocks | 0 comments | Continued(VIAB) Viacom Initiated as Outperform
We initiate coverage for Viacom Inc. (VIAB) with an Outperform recommendation. Viacom is a leading entertainment content company that operates primarily in the U.S. and Europe. The company’s third quarter 2009 financial results were significantly above the Zacks Consensus Estimate. Effective...
2Dec2009 | vitalstocks | 0 comments | Continued(MHP) McGraw-Hill Companies Completes Sale of BusinessWeek
McGraw-Hill Companies (MHP) recently declared that it has completed the sale of BusinessWeek to Bloomberg, the leading financial data, news and analytics provider. Bloomberg has paid $5 million in cash and has agreed to undertake BusinessWeek’s liabilities Incorporatedluding...
2Dec2009 | vitalstocks | 0 comments | Continued(IDC) Interactive Data Corporation Releases New Product
A leading provider of financial market data, analytics and related solutions, Interactive Data Corporation (IDC) announced that its Fixed Income Analytics business has released BondEdge Asset Manager. The BondEdge Asset Manager is designed to assist portfolio managers manage...
2Dec2009 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Acquires Mourant International Finance Administration
State Street Corporation (STT) said on Tuesday that it will acquire European investment servicing firm Mourant International Finance Administration in an effort to expand its global fund administration and alternative servicing capabilities. According to the company, the deal...
2Dec2009 | vitalstocks | 0 comments | Continued(S) Sprint Nextel’s 4G Reaches Hawaii & Seattle
Sprint Nextel (S) has further expanded its fourth-generation (4G) wireless broadband network. The third largest US carrier has officially launched commercial services in Honolulu and Maui in Hawaii and in Seattle, Washington. Sprint offers its 4G service under the “Sprint...
2Dec2009 | vitalstocks | 0 comments | Continued(T) AT&T Introduce 1 GHz Smartphone
US telecom giant AT&T (T) has teamed up with LG Electronics MobileComm U.S.A. to launch the nation’s first 1 gigahertz (GHz) smartphone. The companies will commercially launch the novel device (called “LG eXpo”) on Dec 7, 2009. This demonstrates AT&T’s continued...
2Dec2009 | vitalstocks | 0 comments | Continued(HGSI) Human Genome Sciences to Sell 12.5 Million Shares
Human Genome Sciences Inc. (HGSI) announced that it intends to sell up to 12.5 million shares to raise money for the development of its potential blockbuster lupus drug Benlysta and other business activities. The net proceeds from the public offering will be used for general...
2Dec2009 | vitalstocks | 0 comments | Continued($RSH) RadioShack Corporation Initiated as Neutral
We initiate coverage for RadioShack Corp. (RSH) with a Neutral recommendation. The company is one of the leading consumer electronics specialty retailers in the U.S., offering innovative products and services from leading brands. RadioShack has operations in Mexico also. The...
2Dec2009 | vitalstocks | 0 comments | Continued(COF) U.S. Treasury Department Sells Capital One Financial Warrants
The U.S. Treasury Department said on Tuesday that it will auction 12.7 million warrants to buy common stock of Capital One Financial (COF) on Thursday. This is the latest government effort under the Troubled Asset Relief Program (TARP) set up during the height of the financial...
2Dec2009 | vitalstocks | 0 comments | Continued($IBM) Interactive Data Corporation Reports Server Sales Declining
As per recent data published by Interactive Data Corp. (IDC), third quarter server sales show a steep decline. The company also stated that the market has stabilized and is in a revival phase. For the 2009 July-September quarter, factory revenue of the worldwide server market...
2Dec2009 | vitalstocks | 0 comments | Continued(WMGI) Wright Medical Group Earns Favorable Judgement in Patent Case
Wright Medical Group, Inc. (WMGI) recently received a favorable summary judgment in its patent infringement case against Howmedica Osteonics Corp., a subsidiary of Stryker Corp. (SYK). The lawsuit was filed in 2000, which alleged Wright Medical’s Advance knee implant product...
2Dec2009 | vitalstocks | 0 comments | Continued(F) Have U.S. Auto Sales Reached Bottom?
The U.S. auto industry posted a flat November sales at 742,925 vehicles compared to the year-ago level, suggesting the market has bottomed. The seasonally adjusted rate was 10.9 million vehicles compared 10.4 million vehicles in November last year. Sales of cars and light trucks...
2Dec2009 | vitalstocks | 0 comments | Continued(GLD) Why It’s Time to Invest in Silver: This Precious Metal’s Rally is Just Getting Started
by David Fessler, Energy and Infrastructure Expert Wednesday, December 2, 2009: Issue #1149 You don’t have to look too far these days without hearing someone talk about how high gold prices could go. The topic is fiercely debated in the mainstream financial media at the...
2Dec2009 | InvestmentU | 0 comments | Continued(VOD) Indian 3G Spectrum Auction Deferred Again
Still more bad news for telecom operators and 3G hopefuls hits India as the country’s long-awaited 3G spectrum (radio bandwidth) auction has been delayed again. The auction process for 3G WCDMA spectrum, which was scheduled for Jan 14, 2010, has now been postponed until mid-Feb...
2Dec2009 | vitalstocks | 0 comments | Continued(ETN) Give Your Portfolio a Sugar High
Tony Daltorio, Investment U Research Wednesday, December 2, 2009 Name the commodity that recently hit a 28-year high. No, it’s not gold. It’s one that you probably use every day and don’t think twice about it. Sugar. In a recent column, I delved into the little-discussed...
2Dec2009 | InvestmentU | 0 comments | Continued(BMRN) BioMarin Pharmaceutical Earns Orphan Status From FDA
Recently, BioMarin Pharmaceutical Inc. (BMRN) announced that the U.S. Food and Drug Administration (FDA) granted orphan drug status to its candidate 3,4-diaminopyridine amifampridine phosphate (3,4-DAP), for the treatment of Lambert Eaton Myasthenic Syndrome (LEMS). As a reminder,...
2Dec2009 | vitalstocks | 0 comments | Continued