Archive for January, 2010
(ACL) Novartis’ Purchase Offer Inadequate for Alcon
Eye care company Alcon, Inc. (ACL) announced that its Independent Director Committee recently responded to Novartis AG’s (NVS) proposal to acquire its minority publicly traded shares. The Committee referred to the proposal as “grossly inadequate” and “fundamentally...
21Jan2010 | vitalstocks | 0 comments | Continued(FITB) Fifth Third Bancorp Reduces Loss – Beats Expectations
Fifth Third Bancorp (FITB) has reported a fourth quarter loss of 20 cents per share. Results are well ahead of the Zacks Consensus Estimate of a loss of 31 cents. The company had incurred a loss of $3.78 per share a year earlier. The results were driven by an improvement in credit...
21Jan2010 | vitalstocks | 0 comments | Continued(APH) Amphenol Corporation’s Earnings Top Estimates
Earlier, Amphenol Corporation (APH) reported sales of $758.3 million in the fourth quarter of 2009, roughly flat on a year-over-year basis but up 6% sequentially. The unfavorable movements in foreign currency exchange rates adversely impacted the top-line by approximately 2%...
21Jan2010 | vitalstocks | 0 comments | Continued(AXP) American Express Company Eclipses Estimates
American Express Company (AXP) significantly surpassed its year-ago performance while also eclipsing the Zacks Consensus Estimate in its fourth quarter. After the bell marked another sharp selloff in the market, at which time AXP announced earnings per share of 59 cents, beating...
21Jan2010 | vitalstocks | 0 comments | Continued(GOOG) Google Beats Expectations But Stock Slides
Google Inc. (GOOG) announced solid growth numbers in its fourth quarter and fiscal 2009 earnings after the bell today. The Internet services giant reported earnings of $6.13 per share for the quarter, soundly beating the Zacks Consensus Estimate of $5.69 per share. In contrast...
21Jan2010 | vitalstocks | 0 comments | Continued(EL) The Estee Lauder Companies Raises Guidance
The Estee Lauder Companies Inc. (EL) raised its forecast for the second quarter of fiscal 2010. The company now expects earnings in the range of $1.23 to $1.30, on sales growth of 10%-11%. The previous guidance was for net sales growth of 0%-3% and earnings of 80-87 cents per...
21Jan2010 | vitalstocks | 0 comments | Continued(WM) Waste Management Focuses on Controlling Costs
Waste Management, Inc. (WM) is the largest provider of comprehensive waste management services in North America. The company continues to drive profits by focusing on its pricing programs and cost reductions. Its leading market position enables it to hold onto its pricing power. The...
21Jan2010 | vitalstocks | 0 comments | Continued(MDP) Meredith Corporation’s Report Tops Consensus
Meredith Corporation (MDP), a leading media and marketing company, recently reported second-quarter 2010 results that exceeded Zacks’ expectations on the heels of improved advertising performance at its National and Local Media groups, lower operating expenses Incorporatedreased...
21Jan2010 | vitalstocks | 0 comments | Continued(LM) Legg Mason’s Earnings Report Underperforms Expectations
Legg Mason’s (LM) third quarter earnings of 28 cents per share missed the Zacks Consensus Estimate of 31 cents per share as well as the 30 cents per share from the second quarter of 2010. However, year-over-year the earnings came in substantially ahead of the loss of $10.59...
21Jan2010 | vitalstocks | 0 comments | Continued(CMA) Comerica’s Report Tops Consensus Estimates
Comerica Inc. (CMA) posted fourth-quarter results before the opening bell today. The company reported a net loss of $62 million, or 41 cents per share, compared to a net income of $3 million, or 2 cents per share in the year-ago period. However, the quarterly results came in...
21Jan2010 | vitalstocks | 0 comments | Continued(FCX) Freeport-McMoRan Copper & Gold Outperforms Expectations
The world’s largest publicly traded copper company, Freeport-McMoRan Copper & Gold Inc. (FCX), reported fourth-quarter 2009 earnings of $2.15 per share, ahead of the Zacks Consensus Estimate of $1.59 per share. Earnings represented a significant turnaround from a $14 billion...
21Jan2010 | vitalstocks | 0 comments | Continued(CLI) Mack-Cali Realty Refinances Loan With Prudential Financial Unit
Mack-Cali Realty Corp. (CLI), a fully integrated real estate investment trust (REIT), has recently refinanced a $150 million secured loan with the Prudential Insurance Company of America, the insurance division of Prudential Financial Inc. (PRU), a premier financial service provider...
21Jan2010 | vitalstocks | 0 comments | Continued(OKE) ONEOK Incorporated Raises Dividend Payouts
The Board of Directors of ONEOK Inc. (OKE) has raised the quarterly dividend by 4.8% to 44 cents per share of common stock from 42 cents per share. The dividend is payable on February 12, 2010, to shareholders of record at the close of business on January 29, 2010. This dividend...
21Jan2010 | vitalstocks | 0 comments | Continued(LUV) Southwest Airlines’ Earnings Report Outperforms
Southwest Airlines Co. (LUV) declared encouraging fourth quarter 2009 financial results. Quarterly operating revenue of $2,712 million was down 0.8% year-over-year, but better than the Zacks Consensus Estimate of $2,644 million. Fourth quarter GAAP net income was $116 million...
21Jan2010 | vitalstocks | 0 comments | Continued(KEY) KeyCorp Beats Expectations – Loss Shrinks
KeyCorp’s (KEY) fourth quarter loss from continuing operations of 30 cents per share was lower than the Zacks Consensus Estimate of a loss of 39 cents. This also compares favorably to a net loss from continuing operations of $1.07 cents in the prior-year quarter. Results were...
21Jan2010 | vitalstocks | 0 comments | Continued(FTI) FMC Technologies in Subsea Deal With Petroleo Brasileiro S.A.
Oil drilling equipment maker FMC Technologies Inc. (FTI) announced the receipt of an $80 million contract from Brazilian energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A. The deal calls for FMC Technologies to provide subsea service systems to Petrobras. The company...
21Jan2010 | vitalstocks | 0 comments | Continued(LOGI) Logitech International Beats Estimates
Logitech International (LOGI) reported third quarter 2010 earnings per share of 32 cents per share, beating the Zacks Consensus Estimate of 27 cents. Sales for the quarter were $617 million, a decrease of 2% compared to $627 million in the same quarter last year. Excluding the...
21Jan2010 | vitalstocks | 0 comments | Continued(BAC) U. S. Initial Jobless Claims Rise
The data on the Initial Claims for Unemployment Insurance this morning was disappointing. Initial jobless claims rose by 36,000 to 482,000. This caused the 4-week average to rise by 7,000 to 448,250. It was the first increase in the 4-week average since August 15th, when it stood...
21Jan2010 | vitalstocks | 0 comments | Continued(XRX) Xerox’s Earnings Report Outdoes Estimates
Xerox Corporation (XRX) has posted net income of $221 million or 25 cents per share (before special items) for the fourth quarter of the year. This was higher than the Zacks Consensus Estimate of 22 cents per share. However, net income decreased from $265 million or 30 cents...
21Jan2010 | vitalstocks | 0 comments | Continued(EMC) EMC Corporation Downgraded Pre-Earnings
We have downgraded EMC Corp. (EMC) to Underperform from our previous Neutral rating, due to underlying near-term risks. The increasing downside risk to growth and low profit visibility in the near-term is expected to be the negative catalyst for the upcoming earnings. We lower...
21Jan2010 | vitalstocks | 0 comments | Continued(IGT) International Game Technology First Quarter Earnings Preview
International Game Technology (IGT) will release its first-quarter (December quarter) of fiscal 2010 earnings today after market close. IGT is a leading manufacturer, designer, producer and marketer of computerized casino gaming equipment, systems and devices worldwide. The key...
21Jan2010 | vitalstocks | 0 comments | Continued(EAT) Brinker International Outdoes Consensus Estimates
Brinker International, Inc. (EAT), the operator of Chili’s Grill & Bar, On The Border and Maggiano’s restaurants, recently reported second-quarter 2010 results that topped Zacks’ expectations, sending shares up 12.7% or $1.95 to close at $17.26 on Wednesday,...
21Jan2010 | vitalstocks | 0 comments | Continued(GOOG) FCC Updates Status of US Broadband Plan
The US telecom regulator Federal Communications Commission (FCC) presented a status report on the National Broadband Plan on January 20, 2010. The National Broadband Plan represents a part of the US government’s 2009 stimulus package. The FCC is expected to brief about the...
21Jan2010 | vitalstocks | 0 comments | Continued(DOX) Amdocs Limited Outperforms The Forecast
Yesterday, after market close, Amdocs Limited (DOX) declared better than expected financial results for the first quarter of fiscal 2010. Total revenue of $724.8 million was down 3.9% year-over-year but up sequentially by 2.5%. First quarter revenue was also above the Zacks Consensus...
21Jan2010 | vitalstocks | 0 comments | Continued(XLNX) Xilinx Reports a Solid Quarter
Xilinx Inc (XLNX) reported sales of $513.3 million in the third quarter of fiscal 2010, up 24% sequentially driven by growth in all end-markets and geographies. In particular, sales of Virtex-5 (one of its new products) recorded outstanding growth and exceeded $100 million. Coming...
21Jan2010 | vitalstocks | 0 comments | Continued($COP) ConocoPhillips Flies High with Oil Sands
As an area of significant future oil production growth, ConocoPhillips (COP) has been increasingly favoring its oil sands projects. The company will start the initial construction of the second phase of the Surmont project this year, reports oilvoice.com. It is a Canadian oil...
21Jan2010 | vitalstocks | 0 comments | Continued(EBAY) eBay Shares Soar on Skype Sale
eBay Inc. (EBAY) reported third quarter pro forma earnings that beat consensus estimates by a penny. However, shares were up 8.1% after hours, as the company recorded a $1.1 profit per share on the sale of Skype. Revenue Gross revenue of $2.37 billion was up 5.9% sequentially...
21Jan2010 | vitalstocks | 0 comments | Continued(SLM) Sallie Mae Reports Profits But Misses Consensus Expectations
SLM Corporation (SLM), commonly known as Sallie Mae, reported fourth quarter core earnings of $249 million or 41 cents per share and just missed the Zacks Consensus Estimate of 44 cents. However, the results were significantly up from the prior-year quarter when the company had...
21Jan2010 | vitalstocks | 0 comments | Continued(JOBS) 51job Incorporated – $3.3 Million of Shares Repurchased During Quarter
51job, Inc. (JOBS) more than tripled in 2009, rising on the strong Chinese economy and strong Q3 results from late Novemeber that saw a big jump in revenues from the company’s online recruitment services division. Company Description 51job, Inc. provides integrated human...
21Jan2010 | vitalstocks | 0 comments | Continued(RDY) Dr Reddy’s Laboratories Reports Earnings and Slashes Guidance
Recently, Dr Reddy’s Laboratories (RDY) announced third quarter loss per ADS of 70 cents after a write-down of $174 million associated with its betapharm business in Germany and other intangibles. Excluding these, the company reported adjusted earnings per share of 29 cents,...
21Jan2010 | vitalstocks | 0 comments | Continued