Archive for December, 2009
(PMI) PMI Group Sells Entire Investment in RAM Holdings
PMI Mortgage Insurance Co., a division of PMI Group Inc. (PMI), said on Thursday that it has sold its entire investment in RAM Holdings Ltd. (RAMR), the holding company for RAM Reinsurance Ltd. PMI had impaired its investment in RAM Holdings in 2008 and reduced the carrying value...
28Dec2009 | vitalstocks | 0 comments | Continued(MRK) Merck & Co Ends Deal with Arena Pharmaceuticals
Merck & Co (MRK) recently informed its partner Arena Pharmaceuticals (ARNA) that it was pulling out of a collaboration agreement pertaining to the development of an atherosclerosis drug. The decision by Merck to discontinue the development of the candidate, MK-1903, a niacin...
28Dec2009 | vitalstocks | 0 comments | Continued(TEVA) Teva Pharmaceutical Expands Cancer Portfolio
In a move to expand its branded product offering, generic player Teva Pharmaceutical Industries Ltd. (TEVA) recently entered into a global license and collaboration agreement with OncoGenex Pharmaceuticals, Inc. (OGXI). Teva and OncoGenex are collaborating for the development...
28Dec2009 | vitalstocks | 0 comments | Continued(AMZN) Online Retail Sales Shine for the Holidays
As we had seen with the monthly retail sales numbers in the recent past, the retail picture may not be as bad as the dismal labor market would indicate. In a happy development for some if not all retailers, retail sales data released this morning indicates that consumers spent...
28Dec2009 | vitalstocks | 0 comments | Continued(RUTH) Ruth’s Hospitality Group Improves Financial Position
Ruth’s Hospitality Group Inc. (RUTH), the operator of upscale casual-dining chains, in order to improve its financial position and flexibility has taken prudent steps to raise $69.7 million through a stock sale to a private equity firm, a right offering to existing shareholders...
28Dec2009 | vitalstocks | 0 comments | Continued(NFLX) Netflix Inc. Rallies on Takeover Rumors
The DVD and streaming video company – Netflix Inc (NFLX) rose 1.41% and closed at $56.89 amid rumors that it might be taken over by Amazon.com Inc (AMZN). Netflix has surged more than 6% following its buy out rumor. Other potential acquirers for Netflix assets may be Apple...
28Dec2009 | vitalstocks | 0 comments | Continued(BSX) Boston Scientific Settles Department of Justice Investigation
Boston Scientific Corp. (BSX) recently settled the U.S. Department of Justice (DOJ) investigation pertaining to certain post-market surveys conducted by Guidant Corporation before being acquired by Boston Scientific in 2006. Per the terms of the settlement, Boston Scientific...
28Dec2009 | vitalstocks | 0 comments | Continued(BA) Boeing Lands U.S. Air Force B-52 Modernization Contract
Boeing Co. (BA) has won a $750 million U.S. Air Force contract for modernization and maintenance of the B-52 Stratofortress bomber fleet’s weapons system. Boeing’s B-52 Stratofortress is a long-range, subsonic, jet-powered strategic bomber, which first entered combat...
28Dec2009 | vitalstocks | 0 comments | Continued(PRGS) Progress Software Corporation Beats Expectations
Progress Software Corp. (PRGS) posted GAAP earnings of $16.7 million for the fourth quarter of fiscal 2009, compared to GAAP earnings of $6.4 million in the year-ago quarter. Excluding special items, earnings per share came in at 50 cents, which topped the Zacks Consensus Estimate...
28Dec2009 | vitalstocks | 0 comments | Continued(FNM) Mortgage Giants Fannie Mae & Freddie Mac Find Support
The U.S. Treasury announced late last week that it would offer significant new financial support to the stressed mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE), notwithstanding their performances for the next 3 years. This move by the Fed follows the recent repayment...
28Dec2009 | vitalstocks | 0 comments | Continued(RINO) RINO International Corporation – Third Quarter Sales Rise 41%
Rino International Corp. (RINO) has continued to trend higher since last being featured as a momentum stock 2 months ago, remaining within striking distance of the 52-week high at $35 on strong Q3 results from mid November. Third-Quarter Results Sales for the period were up 41%...
28Dec2009 | vitalstocks | 0 comments | Continued(ALL) Allstate Corporation’s Financial and Credit Ratings Affirmed by A.M. Best
On Dec 22, 2009, A.M. Best Co. affirmed the ratings of Allstate Corporation’s (ALL) subsidiary Allstate New Jersey Insurance Group (Allstate New Jersey) and its associates namely, Allstate New Jersey Insurance Co., Allstate New Jersey Property and Casualty Insurance Co., Encompass...
28Dec2009 | vitalstocks | 0 comments | Continued(DV) DeVry, Incorporated – Bull of the Day
DeVry (DV) is a leading provider of post secondary education in North America and commands a strong portfolio of well-established brands. Moreover, DeVry is also taking initiatives to diversify revenue streams and optimize its real estate strategy, which augurs well for future...
28Dec2009 | vitalstocks | 0 comments | Continued(ANDE) The Andersons – Bear of the Day
The Andersons, Inc. (ANDE) reported third-quarter earnings of 7 cents per share, well below the Zacks Consensus Estimate of 39 cents and the prior-year EPS of 70 cents. Apart from the Grain & Ethanol Group, all other segments posted an operating loss for the quarter. Revenue...
28Dec2009 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation Finishes Exchange Offer
In an attempt to enhance its financing position in the capital market, Zions Bancorporation (ZION) on Dec 22, 2009 announced its preliminary results of the stock exchange offer from its Series A Floating-Rate Non-Cumulative Perpetual Preferred Stock (Series A Preferred Stock)...
28Dec2009 | vitalstocks | 0 comments | Continued(OPNT) OPNET Technologies – Earnings Estimates are Steady
OPNET Technologies, Inc. (OPNT) Company Description OPNET provides network management software to optimize performance and availability of communications networks. In contrast to most reactive services, the company offers proactive problem resolution and avoidance. Estimates...
28Dec2009 | vitalstocks | 0 comments | Continued(NAV) Navistar International Exceeds Earnings Expectations
Navistar International Corporation (NAV) showed a profit of $128 million or $1.77 per share, before special items, for the fourth quarter of fiscal 2009 ended Oct 31, 2009. With this, the truck maker exceeded the Zacks Consensus Estimate of $1.53 per share. The company has also...
28Dec2009 | vitalstocks | 0 comments | Continued(HOGS) Zhongpin Incorporated – Government Subsidies to Aide Expansion
Zhongpin Inc. (HOGS) has been expanding its operations in China by building a new pork plant in Tianjin and a new food oil plant in Changge in the Henan province. The pork producer has received cash subsidies from the Chinese government to aid in the expansion Incorporatedluding...
28Dec2009 | vitalstocks | 0 comments | Continued(LEAP) Leap Wireless Analysts Initiate Coverage at Neutral
We initiate our coverage on Leap Wireless (LEAP) with a Neutral recommendation. The company is one of the prominent players in the low-cost unlimited prepaid wireless market serving roughly 4.7 million customers based on the latest quarterly statistics. However, the company...
28Dec2009 | vitalstocks | 0 comments | Continued(APL) Transport Your Money Into This Natural Gas Industry
by Sheena Martin, Contributing Editor Wednesday, December 23, 2009 Most commodity investors know by now that natural gas prices took a major hit over the past two years. And with production stalled around the world, very few people expect it to rise much more than the $2 per...
27Dec2009 | InvestmentU | 0 comments | Continued(OSIP) OSI Pharmaceuticals Narrows 2010 Guidance
OSI Pharmaceuticals Inc. (OSIP) recently announced that it has narrowed its 2010 revenue guidance. However, the company still expects earnings to grow at 10% or more. OSI Pharma currently expects 2010 revenue growth rate to be in the mid-teens. On Dec. 3 2009, the company presented...
27Dec2009 | vitalstocks | 0 comments | Continued(TIF) Tiffany & Company Contracts with Gem Diamonds
Tiffany & Company (TIF), a high-end jewelry designer, manufacturer and retailer, recently signed a deal with Kimberley Diamond Co., a unit of Gem Diamonds Ltd, whereby the latter will supply fancy yellow diamonds to the former for five years. However, the terms of the agreement...
27Dec2009 | vitalstocks | 0 comments | Continued(F) Ford Motor May Sell Volvo to Geely Holding Group
Today, Ford Motor (F) will reveal its progress on the sale of Swedish brand, Volvo. The automaker is most likely to sell the unit to China-based Zhejiang Geely Holding Group. Ford aims to conclude the sale in early 2010. Ford had discussions with many automakers to sell Volvo...
27Dec2009 | vitalstocks | 0 comments | Continued(VAR) Varian Medical Systems Bags New Customer
Varian Medical Systems, Inc. (VAR) recently reported having bagged a new customer for its RapidArc radiotherapy technology. The new customer is Hope International Centro de Radioterapia of Guatemala, an important cancer treatment facility in Latin America. Doctors at Hope International...
27Dec2009 | vitalstocks | 0 comments | Continued(NEM) Newmont Mining Corporation Signs Loan Deal
Newmont Mining Corporation (NEM) announced yesterday that its subsidiaries, Newmont Indonesia Limited and NVL USA Limited have entered into a loan transaction with P.T. Pukuafu Indah, an unrelated Indonesian company and 20% owner of PT Newmont Nusa Tenggara. P.T. Pukuafu Indah...
27Dec2009 | vitalstocks | 0 comments | Continued(PLD) ProLogis Closes Japanese Financing
ProLogis (PLD), one of the leading global providers of distribution facilities, recently completed a $113 million (10 billion yen) financing to repay its debt. The financing was obtained through a “tokutei mokuteki kaisha” (TMK), a tax-favored, special-purpose vehicle...
27Dec2009 | vitalstocks | 0 comments | Continued(MPG) Maguire Properties Sells Lantana Media
Maguire Properties Inc. (MPG), a leading real estate investment trust (REIT), recently sold Lantana Media Entertainment Campus, a 463,000 square feet studio production and creative office property in Santa Monica, California, to reduce debt. The property was sold to an affiliate...
27Dec2009 | vitalstocks | 0 comments | Continued(ATML) Atmel Licenses Immersion Corporation’s TouchSense
Atmel Corp. (ATML) recently announced that it has licensed Immersion Corp.’s (IMMR) TouchSense technology for its products. Atmel will integrate this functionality into its touch product families to offer users a better experience in consumer products including mobile phones,...
27Dec2009 | vitalstocks | 0 comments | Continued(TM) Toyota Motor Asks for Supplier Discount
Toyota Motor (TM) has urged its suppliers to allow a 30% discount on their prices for many components by the time it rolls out new models for 2013. The company also reorganized its procurement functions, merging three purchasing divisions into two in order to save costs. The...
27Dec2009 | vitalstocks | 0 comments | Continued(NFX) Newfield Exploration Company Switching Focus to Oil
Newfield Exploration Company (NFX) shifts future resources toward oil. Capital is being reinvested for its oil plays, shifting the production mix towards oil over the next several quarters. We believe the gravitation of investors over the past year has been its ever improving...
27Dec2009 | vitalstocks | 0 comments | Continued