Archive for January, 2010
(HRL) Hormel Foods Corporation Coverage Initiated at Neutral
We have recently initiated coverage on Hormel Foods Corporation (HRL), a leading manufacturer and marketer of various meat and food products, as Neutral. Hormel has strengthened its position through acquisitions, which is expected to be its fundamental growth strategy in the...
21Jan2010 | vitalstocks | 0 comments | Continued(SBUX) Starbucks Reports Strong First Quarter Earnings
Starbucks Corporation (SBUX) reported first quarter results with earnings of 33 cents per share. Earnings were 5 cents above the Zacks Consensus Estimate of 28 cents per share, and were up 120% compared to 15 cents in the prior-year quarter. The strong results were driven by...
21Jan2010 | vitalstocks | 0 comments | Continued(EP) El Paso Corporation Reports Year-end Reserves
El Paso Corporation (EP) reported that its total proved reserves at year-end 2009 increased 8% to 2.75 trillion cubic feet equivalent (Tcfe) Incorporatedluding its 48.8% interest in Four Star Oil & Gas Company. Proved reserves at the end of 2008 totaled 2.55 Tcfe. The company’s...
21Jan2010 | vitalstocks | 0 comments | Continued($GS) Goldman Sachs Reports Huge Earnings Beat
Goldman Sachs Group Inc.’s (GS) fourth quarter 2009 earnings of $8.20 per share were significantly ahead of the Zacks Consensus Estimate of $5.18. Results reflected strong performance in investment banking and increased inflows which offset the weak performance in the trading...
21Jan2010 | vitalstocks | 0 comments | Continued(PXD) Pioneer Natural Resources Company Initiated at Neutral
Ahead of the fourth quarter results scheduled to be released on February 2, we have initiated coverage on Pioneer Natural Resources Company (PXD) with a Neutral recommendation and a $51 target price. Irving, Texas-based Pioneer is an independent oil and gas exploration and production...
21Jan2010 | vitalstocks | 0 comments | Continued(HIG) The Hartford Financial Services Group – Consensus Estimates Jump After New Guidance
The Hartford Financial Services (HIG) recently sharply raised guidance for the fourth quarter. The company trades with a PEG ratio of just 0.64. Company Description The Hartford provides insurance and investment products to customers around the world. Its insurance products include...
21Jan2010 | vitalstocks | 0 comments | Continued(WLT) Walter Energy Incorporated – Fifth Consecutive Earnings Surprise
Walter Energy (WLT) analysts are projecting impressive growth in 2010 as shares continue to climb. Company Description Walter Energy produces coking coal for the steel industry. Additionally, the company provides steam and industrial coal, metallurgical coke and methane gas. Beat...
21Jan2010 | vitalstocks | 0 comments | Continued(BBY) Best Buy Company – Solid Sales Growth in December
Best Buy Co., Inc. (BBY) saw robust sales in December. Revenue of $8.5 billion was up 13% year-over-year. The gain can in part be attributed to a jump of 8.2% in comparable store sales. Company Description Best Buy Co., Inc. is a multinational retailer of technology and entertainment...
21Jan2010 | vitalstocks | 0 comments | Continued(GME) GameStop Corporation – Bear of the Day
The video game industry, of which GameStop Corp. (GME) is a part, had surged ahead for a number of years, but is now grappling with the recession. Heavy job losses and reduced access to credit markets have led to lower discretionary spending. This has resulted in lower demand...
21Jan2010 | vitalstocks | 0 comments | Continued(TEVA) Teva Pharmaceuticals – Bull of the Day
Teva Pharmaceuticals (TEVA) reported earnings of $0.89 in the third quarter of 2009, up 16% from the year-ago period and a cent above the Zacks Consensus Estimate. Net sales increased 25% to $3.55 billion. We are impressed with Teva’s strong performance in the first nine...
21Jan2010 | vitalstocks | 0 comments | Continued(MRK) Merck Sees Setback With One of its Pipeline Drugs
Merck (MRK) received a setback recently with respect to one of its pipeline candidates, vicriviroc. The drug did not meet the primary efficacy endpoint in two late stage studies (phase III) with HIV patients who have already been treated with other medication. Following this,...
21Jan2010 | vitalstocks | 0 comments | Continued(NOC) Northrop Grumman Corporation Wins Saudi Arabia National Guard Contract
Northrop Grumman Corporation (NOC) was awarded a contract to continue the modernization and training of the Saudi Arabia National Guard (SANG). The five-year, cost-plus-award-fee hybrid contract has a potential value of $550 million. Under the terms of the contract, Northrop...
21Jan2010 | vitalstocks | 0 comments | Continued(DUK) Duke Energy Gets Rate Increase Approval
Duke Energy Corporation (DUK) got regulatory approval from the Public Service Commission of South Carolina for a general rate case increase of $74.1 million (or 5.2%), which will be effective from Feb. 1, 2010. The hike will increase Duke Energy’s South Carolina residential...
21Jan2010 | vitalstocks | 0 comments | ContinuedAAII Sentiment Survey: Bearish Sentiment at a 4-Week High
Bearish sentiment jumped by nearly eight percentage points in the latest AAII Sentiment Survey. Nearly 35% of individual investors said they expect the markets to trend lower over the next six months, the highest level in four weeks. The historical average for bearish sentiment...
21Jan2010 | vitalstocks | 0 comments | Continued(FSLR) Profit From the “Solar Shift” With These Five Firms
by David Fessler, Energy and Infrastructure Expert Thursday, January 21, 2010: Issue #1180 “Skill to do comes of doing.” – Ralph Waldo Emerson This simple statement fits the progress of the solar energy sector over the past 50 years. In terms of that filtering down to...
21Jan2010 | InvestmentU | 0 comments | Continued(EFX) Equifax Partners With 1010data
Information solution major Equifax Inc. (EFX) recently announced that the company is expanding its partnership with data provider and analytics company 1010data. This collaboration will help Equifax to provide its individual and household marketing data to retailers via the 1010data...
20Jan2010 | vitalstocks | 0 comments | Continued(NFX) Newfield Exploration’s Oklahoma Acreage Booming
Newfield Exploration (NFX) announced a record production at the company’s Woodford Shale play in the Arkoma Basin of southeastern Oklahoma. The gross operated production from this play reached 323 million cubic feet equivalent per day (MMcfe/d) or a net level of 184 MMcfe/d. Newfield...
20Jan2010 | vitalstocks | 0 comments | Continued(MS) Morgan Stanley Misses Consensus Estimates
Morgan Stanley (MS) reported fourth-quarter 2009 net income of $413 million or 14 cents per share, compared to net income of $498 million or 48 cents per share in the prior quarter and net loss of $10.5 million or $10.92 per share a year ago. The results missed the Zacks Consensus...
20Jan2010 | vitalstocks | 0 comments | Continued(ALV) Autoliv Acquires Remaining Shares of Japanese Joint Venture
Autoliv Inc. (ALV) has decided to acquire the remaining 40% of shares in its joint venture (JV) Autoliv Nichiyu Co. Ltd, located in Aichi Prefecture, Japan. The JV, formed in 1988, manufactures airbag inflators for the domestic market and is one of Autoliv’s five manufacturing...
20Jan2010 | vitalstocks | 0 comments | Continued(COH) Coach Tops Consensus Earnings Estimates
Amid a weak retail environment, Coach, Inc. (COH), the designer and marketer of fine accessories and gifts, recently reported second-quarter 2010 results that topped Zacks’ expectations. Coach’s quarterly earnings of 75 cents a share outdid the Zacks Consensus Estimate...
20Jan2010 | vitalstocks | 0 comments | Continued(BK) The Bank of New York Mellon Beats Expectations
The Bank of New York Mellon Corp.’s (BK) fourth-quarter earnings of 59 cents per share came in above the Zacks Consensus Estimate of 52 cents. The company saw an increase in assets under custody and administration during the quarter. On Non-GAAP basis, total revenues for the...
20Jan2010 | vitalstocks | 0 comments | Continued(MTB) M&T Bank Corporation’s Earnings Misses Estimates
Earlier today, M&T Bank Corporation (MTB) reported earnings of $1.04 per share in the fourth quarter of 2009. Excluding a series of special items in the quarter, the company earned 83 cents per share. The results were well short of the Zacks Consensus estimate of 89 cents. Taxable-equivalent...
20Jan2010 | vitalstocks | 0 comments | Continued(XOM) Producer Price Increases Slow
The Producer Price Index (PPI) rose in December by 0.2% on a headline basis, and was unchanged after you strip out volatile food and energy prices to get the core index. This is down sharply from November when they rose 1.8% on headline and 0.5% on a core basis. However, the...
20Jan2010 | vitalstocks | 0 comments | Continued(NAV) Navistar International Corporation Downgrades 2010 Outlook
Navistar International Corp. (NAV) projected earnings per share of $1.75 to $2.25 for fiscal 2010 ended Oct 31, 2009, in a filing with the U.S. Securities and Exchange Commission. This was narrower than the Zacks Consensus Estimate of $3.45 per share for the fiscal. Navistar...
20Jan2010 | vitalstocks | 0 comments | Continued(MI) Marshall & Ilsley Corporation’s Report Falls Short
Marshall & Ilsley Corporation (MI) reported a 2009 fourth quarter net loss of $259.5 million, or 54 cents per share, as compared to a net loss of $1,891.7 million, or $7.25 per share, in the fourth quarter of 2008. M&I’s average loans and leases totaled $45.3 billion...
20Jan2010 | vitalstocks | 0 comments | Continued(HCBK) Hudson City Bancorp Meets Earnings Estimates
Hudson City Bancorp’s (HCBK) fourth quarter 2009 operating earnings came in at 28 cents per share, in line with the Zacks Consensus Estimate. This was an increase over the 25 cents reported last year. The company continued to experience strong lending revenues, even though...
20Jan2010 | vitalstocks | 0 comments | Continued(MDP) Meredith Corporation Enters Licensing Deal in Indonesia
Meredith Corporation (MDP), a media and marketing company, recently declared that it has entered into a licensing deal with Kompas Gramedia Magazine Group to publish and distribute More magazines in Indonesia. This marks the twentieth licensing agreement of the company for its...
20Jan2010 | vitalstocks | 0 comments | Continued(COP) ConocoPhillips Foresees Refining and Marketing Loss
ConocoPhillips (COP) yesterday released its fourth quarter 2009 interim update. The company sees a loss for Refining and Marketing (R&M) segment due to weak secondary product margins, narrow light-heavy crude differentials and a low utilization due to turnaround activity...
20Jan2010 | vitalstocks | 0 comments | Continued(RMBS) Rambus Wins $900Million from Samsung
Chip interface technology and architecture company Rambus Inc. (RMBS) has received an assurance from the largest semiconductor manufacturing company Samsung Electronics that the latter will resolve all claims of Rambus relating to the patent on its chip technology used by Samsung...
20Jan2010 | vitalstocks | 0 comments | Continued(PGR) Progressive’s Earnings Report Exceeds Expectations
Progressive Corp.’s (PGR) fourth quarter earnings of 46 cents per share were ahead of the Zacks Consensus Estimate of 37 cents and almost double the prior-year quarter’s earnings of 24 cents. Investment gains coupled with increased premium writings have contributed to this...
20Jan2010 | vitalstocks | 0 comments | Continued