Archive for December, 2009
(WAG) Walgreens First Quarter Results Beat Estimates
Walgreens (WAG) began fiscal 2010 with a strong first quarter. Walgreens reported earnings of 52 cents per share, which were slightly above the Zacks Consensus Estimate of 48 cents and 41 cents in the comparable prior-year quarter. Net sales for the quarter increased 9.5% year-over-year...
23Dec2009 | vitalstocks | 0 comments | Continued(MU) Micron Technology Swings to Profit
Micron Technology (MU), one of the largest memory companies, reported first quarter of fiscal year 2010 earnings that beat consensus estimates by 15 cents. Revenue beat the consensus by 8.7%. Revenue Total revenue was $1.74 billion, up 33.6% sequentially and 24.1% year over...
23Dec2009 | vitalstocks | 0 comments | Continued(MGI) MoneyGram International Lowers Total Debt
On Monday, MoneyGram International Inc. (MGI) announced its decision to make an optional repayment of $40 million to its debtors on Dec 22, 2009. The prepayment of $40 million is against its tranche B term loan taken under the senior secured credit facility. This will bring down...
23Dec2009 | vitalstocks | 0 comments | Continued(DVN) Devon Energy Corporation Sells Gulf of Mexico Assets
Devon Energy Corporation (DVN) has agreed to sell three of its Gulf of Mexico assets to Maersk Oil for $1.3 billion. The divestiture would include Devon’s 50% interest in the Cascade project and its 25% interests in the Jack and St. Malo projects. All three projects are located...
23Dec2009 | vitalstocks | 0 comments | Continued(STT) Fitch Ratings Upgrades State Street Corporation on Improving Capital and Liquidity
Acknowledging State Street Corp.’s (STT) improvement in capital and liquidity position, on Tuesday, Fitch upgraded some of the ratings for the company. Fitch Ratings raised the individual and preferred stock ratings of State Street and subsidiary State Street Bank and Trust...
23Dec2009 | vitalstocks | 0 comments | Continued(LMT) Lockheed Martin Corporation Sells 24 F-16s to Morocco
Lockheed Martin Corporation (LMT) was awarded a contract worth $841.9 million for supplying 24 F-16 Fighting Falcon jet fighters and related equipment for the government of Morocco. This will boost the Aeronautics segment which in recent time had witnessed lower volume from the...
23Dec2009 | vitalstocks | 0 comments | Continued($RHT) Red Hat Beats Expectations – Earnings Guidance Is Up
Red Hat, Inc.’s (RHT) third-quarter earnings of 17 cents per share (after adjusting for stock based compensation, amortization of intangibles and litigation expenses) beat the Zacks Consensus expectation of 12 cents on increased revenue, particularly from subscription. EPS...
23Dec2009 | vitalstocks | 0 comments | Continued(ORI) Standard & Poor’s Ratings Services Downgrades 5 Mortgage Insurers
Standard & Poor’s Ratings Services downgraded credit ratings of five U.S. mortgage insurers on Tuesday as losses of these mortgage insurers were bigger than S&P’s expectations. The rating agency also expects that unemployment will continue to rise through the...
23Dec2009 | vitalstocks | 0 comments | Continued(HIW) Highwoods Properties Secures New Credit Facility
Highwoods Properties Inc. (HIW), a leading real estate investment trust (REIT), recently obtained a new $400 million unsecured revolving credit facility from a consortium of 12 banks. The new credit facility is scheduled to mature in Feb 2013, and replaces the existing $450 million...
22Dec2009 | vitalstocks | 0 comments | Continued(ZLC) Zale Corporation Cancels Orders As Sales Fall
Jewelry retailer Zale Corporation (ZLC) said its November comparable-store sales fell 18.6%. As a result, the company, which has been grappling with sliding sales, canceled some of its orders from suppliers and delayed payments in a tough holiday season. According to a report,...
22Dec2009 | vitalstocks | 0 comments | Continued(NEOG) Neogen Beats Earnings Expectations by a Penny
Neogen Corp. (NEOG) recently posted fiscal second quarter results. The company’s GAAP net income grew 18% to $4.6 million, compared to $3.9 million in the year-ago period. Adjusting for a 3-for-2 stock split effective Dec 15, earnings per share came in at 20 cents per share,...
22Dec2009 | vitalstocks | 0 comments | Continued(UBS) Credit Suisse Group and UBS AG May Raise Liquidity
Swiss banks UBS AG (UBS) and Credit Suisse Group (CS) may need to raise their liquidity levels. The two Swiss banks may need to retain 45% of their customers’ deposits as the Swiss regulator intends to increase their liquidity requirements. The banks may need to hold 45% of...
22Dec2009 | vitalstocks | 0 comments | Continued($SNY) Sanofi-Aventis Expands Presence in U.S. by Aquiring Chattem
Sanofi-Aventis (SNY) has decided to acquire U.S.-based Chattem Inc. (CHTT) for $93.50 per share, or approximately $1.9 billion, to create the world’s fifth-largest consumer healthcare company. The offered price represents a 34% premium over Chattem’s Dec. 18th closing price....
22Dec2009 | vitalstocks | 0 comments | Continued(RTN) Raytheon and Lockheed Martin’s Javelin Joint Venture Wins $176M Contract
Recently, the United Kingdom’s Defense Ministry awarded a $176 million contract to Raytheon Co. (RTN) and Lockheed Martin Corp.’s (LMT) Javelin Joint Venture. The joint venture’s Missiles & Fire Control division in Orlando received an order to produce more than 1,300...
22Dec2009 | vitalstocks | 0 comments | Continued(RAS) RAIT Financial Trust Bolsters RAIT Securities
RAIT Financial Trust (RAS), a real estate investment trust (REIT), has augmented the operations of RAIT Securities LLC by hiring seasoned professionals and bringing on board invaluable experience. RAIT Securities offers commercial real estate advisory services to a host of clients. In...
22Dec2009 | vitalstocks | 0 comments | Continued(ZGEN) ZymoGenetics Amends Recothrom Deal
ZymoGenetics Inc. (ZGEN) announced recently that it has restructured the agreements with Bayer Schering Pharma AG and Bayer HealthCare relating to its bleeding control product Recothrom. The revised agreement, effective from Jan 1, 2010, will see Bayer stop promoting Recothrom...
22Dec2009 | vitalstocks | 0 comments | Continued(SMA) Symmetry Medical Plans for Restructuring
Symmetry Medical, Inc. (SMA) recently announced a restructuring plan that includes facility consolidation and related headcount reduction. The restructuring aims at increasing Symmetry’s operational efficiency through cost savings. This will help the company to maintain its...
22Dec2009 | vitalstocks | 0 comments | Continued(IBM) International Business Machines Signs Indian Outsourcing Deal
International Business Machines (IBM) announced the signing of a 10-year outsourcing deal with Digicable, a leading cable and broadband distribution player in India. The deal is worth $83 million. Under the outsourcing agreement, IBM will support the integration of Digicable’s...
22Dec2009 | vitalstocks | 0 comments | Continued(MCO) Moody’s Investor Service May Downgrade Alcoa
Reportedly, credit rating agency, Moody’s Investor Service (MCO) has placed Alcoa’s (AA) senior unsecured debt under review for a possible downgrade, after the U.S. aluminum giant announced it would be spending $900 million in a joint venture with Saudi Arabian Mining Co....
22Dec2009 | vitalstocks | 0 comments | Continued(F) Ford Tops in Vehicle Residual Value
After 36 months in service, the projected resale value of 2010 Ford (F) vehicles (Ford, Lincoln and Mercury) has gone up by an average of $1,310 per vehicle compared to the 2009 model year. This is the largest increase compared to other automakers based in the U.S. Ford accredited...
22Dec2009 | vitalstocks | 0 comments | Continued(CRK) Comstock Resources Inc to Hike Capital Spending
Oil and natural gas firm Comstock Resources Inc. (CRK) has announced its 2010 capital spending plans. The company has pegged its development and exploration budget at $385 million, up more than 8% from the $355 million it expects to invest by the end of 2009. Comstock will be...
22Dec2009 | vitalstocks | 0 comments | Continued(JPM) JPMorgan Chase & Company Sells $4Billion in Securities
Yesterday, JPMorgan Chase & Company (JPM) sold $4 billion of extendable securities in a self-led deal. The final maturity date of the securities is Dec. 1, 2015. However, the extendable securities contain an option to extend the maturity period at the same or a higher interest...
22Dec2009 | vitalstocks | 0 comments | Continued(FNM) Rethinking Foreclosure: Is There a More Sensible Way?
by Robert Williams, Publisher Tuesday, December 22, 2009 Fannie Mae (FNM), which facilitates the lending of almost one in four U.S. residential mortgages, says the recent 11% jump in home sales is proof-positive that the three-year housing slump may end in 2010. The reality...
22Dec2009 | InvestmentU | 0 comments | Continued(NOK) Fitch Ratings Downgrades Nokia Corporation
Yesterday Fitch Ratings downgraded credit rating of Nokia Corp. (NOK), the largest mobile handset maker in the world. Nokia’s long-term senior unsecured debt is now assigned A- rating by Fitch, lower than its previous rating of A. At the same time, Fitch also downgraded Nokia’s...
22Dec2009 | vitalstocks | 0 comments | Continued(TRV) The Travelers Companies Raises $500 Million With Catastrophe Bonds
The Travelers Companies Inc. (TRV) has raised $500 million selling catastrophe bonds, or “cat bonds.” Travelers entered into two reinsurance agreements with Longpoint Re II Ltd., whereby Longpoint Re II completed two cat bonds offering of $250 million each. Each...
22Dec2009 | vitalstocks | 0 comments | Continued(WPO) The Washington Post’s Newsweek to Offload Budget Travel
Newsweek, a division of The Washington Post Company (WPO), a diversified media and education company, recently announced that it has agreed to sell Arthur Frommer’s Budget Travel magazine to Fletcher Asset Management Inc., a New York investment firm. The terms of the transaction,...
22Dec2009 | vitalstocks | 0 comments | Continued(HUM) Humana Inks Long-term Agreement
Humana Inc. (HUM) recently entered into a long-term agreement with New West Physicians, a primary-care group practice in the Denver area with approximately 250,000 patients. The deal will see New West Physicians provide health care services to individuals and families enrolled...
22Dec2009 | vitalstocks | 0 comments | Continued($ERIC) Don’t Buy Into Ericsson Before You Read This
Tony Daltorio, Investment U Research Tuesday, December 22, 2009 Once upon a time, the real mobile phone industry consisted of only two companies: Swedish-based Ericsson ADR (NASDAQ: ERIC) and the Finnish Nokia ADR (NYSE: NOK). These days though, while Ericsson might still lead...
22Dec2009 | InvestmentU | 0 comments | Continued(HPQ) Status of the Printing Industry
The printing industry has not been doing too well in the recent past, due to the ongoing cost-reduction drive of customers and enterprises as well as environmental concerns. As a result, many of the largest players in the space Incorporatedluding Hewlett-Packard Company (HPQ),...
22Dec2009 | vitalstocks | 0 comments | Continued(INCY) Incyte Enters Deal With Eli Lilly
It’s raining good news for Incyte (INCY), which entered into a deal with Eli Lilly (LLY) regarding one of its pipeline candidates. The two companies have entered into a worldwide license and collaboration agreement related to the development and commercialization of Incyte’s...
22Dec2009 | vitalstocks | 0 comments | Continued