Archive for December, 2009
(FINL) Finish Line Posts Third Quarter Profit
Mall-based specialty retailer The Finish Line Inc. (FINL) swung to a GAAP net income of $6.6 million during fiscal 2010 third quarter, from a GAAP net loss of $8.8 million in the year-ago period primarily due to a income tax gain. Excluding the gain, the company recorded breakeven...
27Dec2009 | vitalstocks | 0 comments | Continued(CAB) Cabela’s Upgraded to Outperform by Analyst
Boasting a healthy balance sheet, viable strategy, and improving operating efficiencies, Cabela’s Inc. (CAB) offers investors one of the strongest growth profiles. This prompts us to upgrade our recommendation to Outperform from Neutral with a target price of $16.00. Cabela’s...
27Dec2009 | vitalstocks | 0 comments | Continued(NOK) Nokia Corporation Initiated at Neutral Analyst Coverage
We initiate coverage for Nokia Corp. (NOK) with a Neutral recommendation, which means the stock will perform in line with the broader market. Nokia commands the majority market share (35%) for mobile devices throughout the world and is way ahead of its nearest rivals, Samsung...
27Dec2009 | vitalstocks | 0 comments | Continued(F) Ford Motor’s Shares Hit 4-Year High
Shares of Ford Motor (F) exceeded $10 for the first time in more than four years on Dec 23 as the automaker continues to benefit from market share gains and other successes. The shares rose 18 cents to $10.08 on Dec 23 compared to Dec 22. This is a recovery from a historic low...
27Dec2009 | vitalstocks | 0 comments | Continued(MCO) Moody’s Investors Service Downgrades Celanese Corporation
Moody’s Investors Service (MCO) has reportedly affirmed the long-term debt ratings and lowered its outlook for two subsidiaries of Celanese Corporation (CE) ? Crystal U.S. Holdings 3 LLC and Celanese U.S. Holdings LLC. Moody’s has downgraded Celanese’s outlook...
27Dec2009 | vitalstocks | 0 comments | Continued(FPL) FPL Group’s Seabrook Station Plant Outage Weighs on 2009 Earnings
FPL Group Inc. (FPL) announced that an extended outage at the company’s Seabrook Station nuclear power plant and a continuing poor wind resource are expected to reduce 2009 forecasted earnings by $0.17 to $0.21 per share. The company had previously guided 2009 adjusted earnings...
27Dec2009 | vitalstocks | 0 comments | Continued(CNXT) Conexant Systems Completes Debt Redemption
Conexant Systems, Inc. (CNXT) recently announced that it has completed the previously announced planned redemption of the remaining $61.4 million of outstanding aggregate principal amount of its floating rate senior secured notes due in November 2010. The total aggregate redemption...
27Dec2009 | vitalstocks | 0 comments | Continued(JOE) The St. Joe Company Augments Their Credit Facility
The St. Joe Company (JOE), a publicly held operationally diversified real estate company, has recently increased its credit facility from $100 million to $125 million. The credit facility is scheduled to mature in Sep 2012. The increase in the credit facility was made possible...
27Dec2009 | vitalstocks | 0 comments | Continued(GE) General Electric Company Sells India Transport Finance Arm
General Electric Company (GE) has sold its India transport financial services business for 12 billion rupees ($255 million) to Shriram Transport Finance Company (STFC). Shriram Transport’s managing director R Sridhar confirmed the transaction but declined to give more details. The...
27Dec2009 | vitalstocks | 0 comments | Continued(COMS) 3Com Corporation Shows Sequential Improvement
The networking gear maker, 3Com Corporation (COMS) showed sequential improvement on all fronts as revenue, earnings and operating margin were better than the company’s own guidance. The sequential improvements were due to the effects of the global economic recovery, which...
27Dec2009 | vitalstocks | 0 comments | Continued(URS) URS Corporation Integrates Divisions – Takes Accounting Charge
URS Corporation (URS) will rebrand and integrate its EG&G and Washington divisions under the URS Corporation brand. Following the change, which will take effect on Jan 1, 2010, URS will present a single brand to clients and the marketplace. With URS divisions marketing under...
27Dec2009 | vitalstocks | 0 comments | Continued(EEP) Enbridge Energy Partners L.P. Sports A Discounted Valuation
While other players in our MLP (master limited partnership) coverage increase their cash distribution, Enbridge Energy Partners L.P. (EEP) still lags behind. In the third quarter, Enbridge retained its cash distribution, while Enterprise Products Partners L.P. (EPD) and Kinder...
27Dec2009 | vitalstocks | 0 comments | Continued(MI) Marshall & Ilsley Extends Foreclosure Suspension
On Tuesday, Marshall & Ilsley Corp. (MI), commonly known as M&I, announced the extension of its foreclosure moratorium term by an additional 90-day period. The moratorium was initiated on Dec 18, 2008, as a part of the Homeowner Assistance Program. The foreclosure suspension...
27Dec2009 | vitalstocks | 0 comments | Continued(TEF) Telefonica S.A. Acquires Jajah
Telefonica S.A. (TEF) has decided to acquire VoIP services and application specialist Jajah for a consideration of Euro 145 million or approximately $207 million, in an all-cash transaction. Jajah offers Internet calling that enables its customers to bypass long-distance fees...
27Dec2009 | vitalstocks | 0 comments | Continued(RTN) Raytheon Company Bags Billion Dollar Contract
Raytheon Company (RTN) has received a $1.1 billion contract for the production of Patriot Air and Missile Defense System for Taiwan. The award includes ground system hardware under an initial contract valued at $965.6 million and an initial spares contract valued at $134.4 million. The...
27Dec2009 | vitalstocks | 0 comments | Continued(KGC) Kinross Gold Corporation’s Kupol Mine Certified
Canadian mining company, Kinross Gold Corporation (KGC) announced recently that its Kupol mine in the Far East Region of the Russian Federation has been fully certified under the International Cyanide Management Code. Kupol is the first mine in Russia to obtain this certification. In...
27Dec2009 | vitalstocks | 0 comments | Continued(CGA) International Agriculture Co. Pulled Back From 52-week High to Rebound From Key Trend Line
China Green Agriculture Inc. (CGA) recently pulled back from its 52-week high at $18.70 after surging higher in mid November on another strong quarterly performance. The up trend that has been supporting prices since summer is still in play but a ways away at $12. As it stands...
27Dec2009 | vitalstocks | 0 comments | Continued(BAC) Initial Jobless Claims Fall
The economy got a Christmas present today in the form of a decline in initial claims for unemployment insurance of 28,000. We are now down to 452,000, almost 200,000 below the peak set back in April. The decline also reverses increases in the last two weeks. The four-week average...
27Dec2009 | vitalstocks | 0 comments | Continued(CVX) Chevron Sells More Liquefied Natural Gas From Gorgon Venture
Chevron Corp. (CVX) – the second-biggest U.S. energy company – entered into a deal to sell 1.44 million tons of liquefied natural gas (LNG) per annum from its Gorgon venture in Australia. The company said that its Australian subsidiary has signed a long-term agreement in...
27Dec2009 | vitalstocks | 0 comments | Continued(NOC) Northrop Grumman Corporation Awarded Contract
National Security Technologies, LLC (NSTec), a joint venture led by Northrop Grumman Corporation (NOC), was awarded a contract extension by the United States National Nuclear Security Administration (NNSA). NNSA awarded NSTec a one-year, cost-reimbursement and operating contract...
24Dec2009 | vitalstocks | 0 comments | Continued($C) Citigroup Repays $20Billion in Bailout Money to Treasury
Yesterday, Citigroup Inc. (C) announced that it repaid $20 billion in bailout money. The company is now free of pay restrictions on its key executives. The pay rule restrictions were a major hindrance for Citi in keeping back its skilled workforce. Citi had received $45 billion...
24Dec2009 | vitalstocks | 0 comments | Continued(WFC) Wells Fargo Repay $25 to Treasury to Exit TARP
On Wednesday, Wells Fargo & Co. (WFC) finally exited the Troubled Asset Relief Program (TARP) by repaying the entire $25 billion that it had taken as aid in October 2008. Accordingly, the company bought back the $25 billion of series D preferred stock issued to the US Treasury...
24Dec2009 | vitalstocks | 0 comments | Continued(MDT) Medtronic Has New Product To Treat Degenerative Lumbar Spine
Medtronic, Inc. (MDT) recently reported the launch of its new product, the SOVEREIGN Spinal System, in the United States. The SOVEREIGN Spinal System is used to treat patients suffering from a degenerative condition affecting the lumbar spine. The new product is an intervertebral...
23Dec2009 | vitalstocks | 0 comments | Continued(IGT) International Game Technology Upped to Neutral
We have a Neutral rating on International Game Technology (IGT), indicating that it would perform in line with the market. Our target price of $21.00 is based on a P/E multiple of 23.6X our 2010 EPS estimate, a discount to the peer group. While spending appears to be rebounding,...
23Dec2009 | vitalstocks | 0 comments | Continued(GE) General Electric to Power Chinese Planes
One of the most advanced jet engines soon to enter service has been selected as the sole western power plant for China’s new C919 single-aisle, 150-seat passenger jet. Manufactured by CFM International, which is a 50/50 joint venture between General Electric Co. (GE) and SAFRAN...
23Dec2009 | vitalstocks | 0 comments | Continued(KMP) Kinder Morgan Energy Partners and Energy Transfer Partners’ Joint Venture Gets Green Light
The Fayetteville Express Pipeline LLC – a 50/50 joint venture between Kinder Morgan Energy Partners, L.P. (KMP) and Energy Transfer Partners, L.P. (ETP) – said that the Federal Energy Regulatory Commission (FERC) permitted it to build and operate a 185-mile pipeline to carry...
23Dec2009 | vitalstocks | 0 comments | Continued(PFE) Pfizer’s Prevnar Gains Acceptance
Pfizer’s (PFE) vaccine segment should strengthen further with the recent approvals in Europe and Canada of Prevnar 13, its 13-valent pneumococcal conjugate vaccine. The vaccine is meant for the prevention of invasive pneumococcal disease (sepsis, meningitis, bacteremia, bacteremic...
23Dec2009 | vitalstocks | 0 comments | Continued(TWC) Time Warner Cable Eyes Cable Vision
Time Warner Cable Inc. (TWC), the second largest cable MSO in the U.S., said it may try to acquire rival cable TV operators in order to consolidate its position in the industry as well as to put pressure on its major rival Comcast Corp. (CMCSA). The company has decided to remain...
23Dec2009 | vitalstocks | 0 comments | Continued(AIG) American International Group Shelves Chartis Spin-off
As part of its intention to focus on expanding the property and casualty unit, American International Group Inc. (AIG) has shelved its effort to spin off its property-casualty business Chartis. AIG had planned earlier to sell a stake of up to 20% in Chartis through either an...
23Dec2009 | vitalstocks | 0 comments | Continued(CTAS) Cintas Corporation’s Earnings Falls Short of Consensus Estimates
Cintas Corporation (CTAS) reported second quarter 2010 earnings per share of 37 cents compared to the Zacks Consensus Estimate of 43 cents. Rental revenues were $643.6 million for the quarter, a 9.5% decrease in revenues compared to the second quarter of last year but flat compared...
23Dec2009 | vitalstocks | 0 comments | Continued