Archive for January, 2010
(HRS) Harris Corporation Analyst Downgrades to Neutral
We downgrade our recommendation for Harris Corp. (HRS) to Neutral, which means the stock will perform in line with the broader market. The stock price has moved up nearly 84% in the last one year and is currently trading at the high-end of its 52-week price range. Harris depends...
19Jan2010 | vitalstocks | 0 comments | Continued(FHN) First Horizon National Corporation Misses Consensus Estimates
First Horizon National Corporation (FHN) reported fourth quarter net loss of 32 cents, worse than the Zacks Consensus Estimate of a loss of 22 cents. Net loss deteriorated to $70.6 million in the fourth quarter of 2009 from a loss of $52.9 million in the prior quarter and a loss...
19Jan2010 | vitalstocks | 0 comments | Continued(CLB) Core Labs N.V. Raises Dividend by 20%
Oilfield service provider Core Laboratories N.V. (CLB) announced a 20% hike in its quarterly dividend to 12 cents per share, up from 10 cents. On an annualized basis, the quarterly cash dividend would be equal to a payout of 48 cents per share of common stock. The revised dividend...
19Jan2010 | vitalstocks | 0 comments | Continued(FAST) Fastenal Barely Misses Earnings Expectations
Fastenal Co. (FAST) of Winona, Minnesota has revealed earnings of $45 million or 30 cents per share in the fourth quarter ended December 31, 2009. This was a tad lower than the Zacks Consensus Estimate of 31 cents per share. However, net income declined 29% from $63 million or...
19Jan2010 | vitalstocks | 0 comments | Continued(CEG) Constellation Energy Group Tenders $400Million in Notes
Constellation Energy Group Inc. (CEG) announced the commencement of a cash tender offer for up to $400 million in notes. The tender offer includes the company’s outstanding 7.00% Notes due April 1, 2012, and its outstanding 4.55% Notes due June 15, 2015. The tender offer will...
19Jan2010 | vitalstocks | 0 comments | Continued(PETS) PetMed Express Beats Consensus Estimates
PetMed Express, Inc. (PETS), America’s largest Pet Pharmacy, recently reported third-quarter fiscal 2010 results. The quarterly earnings of 25 cents a share were above the Zacks Consensus Estimate by 2 cents, and rose 19% year over year from 21 cents posted in the prior-year...
19Jan2010 | vitalstocks | 0 comments | Continued(MT) ArcelorMittal and BHP Billiton to Combine Iron Ore Mining
ArcelorMittal (MT) entered into initial discussions with BHP Billiton (BHP) to potentially combine their respective iron ore mining and infrastructure interests in Liberia and Guinea in a joint venture. The iron ore interests of the two companies in Liberia and in Guinea are...
19Jan2010 | vitalstocks | 0 comments | Continued($F) Built Ford Tough – Why This Resilient Automaker Is a Good Long-Term Buy
by Jeannette Di Louie, Investment U Research Tuesday, January 19, 2010 In a year that saw two of America’s biggest companies – and the heart and soul of Detroit’s auto industry – tumble into bankruptcy, one firm stood out. While General Motors and Chrysler unashamedly...
19Jan2010 | InvestmentU | 0 comments | Continued(PFE) Pfizer Strengthens Oncology Arm
Recently, Pfizer (PFE) entered into a co-development agreement with Switzerland-based Debiopharm Group regarding pipeline candidate tremelimumab for the treatment of patients with melanoma. A biomarker will be used to identify those patients who are more likely to respond to...
19Jan2010 | vitalstocks | 0 comments | Continued(BA) Boeing’s to Establish Bio-Fuel Initiative
Boeing Company (BA) along with the Masdar Institute of Science and Technology, Etihad Airways and Honeywell International Inc.’s (HON) subsidiary UOP LLC will establish a research institute and demonstration project in Abu Dhabi dedicated to sustainable energy solutions. The...
19Jan2010 | vitalstocks | 0 comments | Continued(GES) Guess? Incorporated – Earnings Estimates Continue to Rise on Strong Momentum
Guess?, Inc. (GES) continues to see bullish earnings forecasts. The current full-year Zacks Consensus Estimate of $2.50 per share is up from $2.18 over the past 3 months. For the following year, analysts polled by Zacks are calling for earnings of $2.85 per share, versus the...
19Jan2010 | vitalstocks | 0 comments | Continued(GT) Goodyear Tire Hurt by Venezuela’s Currency Devaluation
Goodyear Tire’s (GT) operation in Venezuela, which contributes a significant portion of the company’s Latin American Tire sales and operating income, has been significantly affected by the Venezuelan government’s decision to introduce a two-tiered exchange rate that devalues...
19Jan2010 | vitalstocks | 0 comments | Continued(XL) XL Capital’s Financial Strength Rating Affirmed by A.M. Best
Rating agency A.M. Best affirmed the rating of XL Capital’s (XL) subsidiaries with a stable outlook. It includes the affirmation of a financial strength rating (FSR) of “A-“ and an issuer credit rating (ICR) of “a-” for XL Life Ltd., FSR of “A-“ and ICR of “a-”...
19Jan2010 | vitalstocks | 0 comments | Continued(LZB) La-Z-Boy Incorporated – Earnings Forecasts Move Higher
La Z Boy Inc. (LZB) recently rebounded from a dip lower to move back within striking distance of the 52-week high at $11.07. Shares have been rallying since mid November when the company reported better than expected Q3 results. Company Description La-Z-Boy Inc. designs, manufactures...
19Jan2010 | vitalstocks | 0 comments | Continued(BAC) Small Business Lending Shrinks $1Billion
According to a report released by the Treasury late last Friday, major banks have cut small business lending by $1 billion in November. This marks the seventh straight month of decline in small business lending. The banks’ total lending dropped 4.6% in that seven-month...
19Jan2010 | vitalstocks | 0 comments | Continued(CHL) China Telecom Carriers Invest Billions on 3G Technology
China’s big three telecom carriers China Mobile (CHL), China Unicom (CHU) and China Telecom (CHA) have invested RMB160.9 billion (US$23.8 billion) on 3G networks in 2009, according to the Ministry of Industry and Information Technology (“MIIT”) of China. MIIT also reported...
19Jan2010 | vitalstocks | 0 comments | Continued(RTN) Raytheon Subsidiary Earns U.S. Air Force Contract to Fight Cyberattacks
Raytheon Co.’s (RTN) wholly owned subsidiary Raytheon BBN Technologies has been awarded a $2.9 million contract by the U.S. Air Force Research Laboratory to develop new approaches to protect the Department of Defense Service-Oriented Architectures (SOA) against cyberattacks. Military...
19Jan2010 | vitalstocks | 0 comments | Continued(VOD) Vodafone UK Cuts The Price of its Femtocell
Vodafone UK (VOD) reportedly rebranded and drastically cut the price of its femtocell (mini base station) product in an effort to boost customer adoption. The telecom giant has renamed its femtocell offering to Sure Signal from the earlier moniker Access Gateway to make it more...
19Jan2010 | vitalstocks | 0 comments | Continued(FRX) Forest Laboratories Beats Earnings Expectations
This morning, Forest Laboratories, Inc. (FRX), reported earnings per share of 97 cents for the third quarter of fiscal 2010, well above the Zacks Consensus Estimate of 86 cents. Total revenues increased 6.7% to $1.06 billion with product revenues increasing 8.4% to $997 million. Although...
19Jan2010 | vitalstocks | 0 comments | Continued(STJ) St. Jude Medical Gets Product Approval
St. Jude Medical, Inc. (STJ) recently received approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) for marketing its Genesis spinal cord stimulation system in Japan. The Genesis spinal cord stimulation system is used for the management of chronic pain. Spinal...
19Jan2010 | vitalstocks | 0 comments | Continued(SNP) Sinopec and BP plc Are In Talks For Shale Gas
Sinopec (SNP), the Chinese oil giant, is in talks over a possible collaboration with BP plc (BP) in shale gas development. This discussion follows the finalization of a deal between Royal Dutch Shell (RDSA) and PetroChina (PTR) during last November to jointly develop shale gas...
19Jan2010 | vitalstocks | 0 comments | Continued(PH) Parker Hannifin Corporation Tops Consensus Expectations
Parker Hannifin Corporation (PH) reported second quarter 2010 earnings per share of 64 cents, beating the Zacks Consensus Estimate of 34 cents. Its fiscal second-quarter profit fell to $104.5 million, or 64 cents a share, from $155.4 million, or 96 cents a share, in the year-ago...
19Jan2010 | vitalstocks | 0 comments | Continued($GS) Goldman Sachs Group Postpones UK Bonuses
Mulling over the new UK tax issues laid on executive bonus payments, according to a report in this morning’s The Daily Telegraph, Goldman Sachs Group Inc. (GS) has reportedly deferred the announcement. According to the paper, Goldman Sachs was supposed to announce the structure...
19Jan2010 | vitalstocks | 0 comments | Continued(CRM) Salesforce.com Unveils Spring 10
Cloud computing major Salesforce.com (CRM) is grabbing headlines on regular basis. The company recently introduced Spring 10. This is the company’s 31st-generation release with advanced features designed for its Sales Cloud 2 platform and Force.com site. This advanced cloud...
19Jan2010 | vitalstocks | 0 comments | Continued(OSIP) OSI Pharmaceuticals Gets Tarceva Review Extension from FDA
OSI Pharmaceuticals (OSIP) received a setback recently with the US Food and Drug Administration (FDA) extending the review date of Tarceva (erlotinib), for its use as a first-line maintenance therapy in advanced non-small cell lung cancer (NSCLC) patients. Tarceva, OSIP’s lead...
18Jan2010 | vitalstocks | 0 comments | Continued(BAC) Bank of America to Cut 50 Jobs in Bellevue
As part of its nationwide job cuts initiative announced at the end of 2008, Bank of America Corporation (BAC) will retrench 50 employees in Bellevue. According to a notice sent out by the Washington Employment Security Department on Friday, BofA will start the retrenchment effective...
18Jan2010 | vitalstocks | 0 comments | Continued(LOW) Lowe’s Companies Analyst Coverage Initiated at Neutral
We have recently initiated coverage on Lowe’s Companies, Inc. (LOW), the world’s second largest home improvement retailer operating in the United States and Canada, with a Neutral recommendation and a target price of $24.00. We expect it to perform in line with the industry. Based...
18Jan2010 | vitalstocks | 0 comments | Continued(MDP) Meredith Corporation to Trim Headcount
Meredith Corp. (MDP), a media and marketing company, recently declared that it will lower its headcount by about 45 employees to revamp its Special Interest Media (SIM) business, which concentrates on home improvement publications and do-it-yourself projects in the fields of...
18Jan2010 | vitalstocks | 0 comments | Continued(PAA) Plains All American Pipeline L.P. Plans IPO
Plains All American Pipeline L.P. (PAA), recently, announced plans for an initial public offering of PAA Natural Gas Storage L.P., a master limited partnership subsidiary, which the company plans to create for its natural-gas storage business. Plains said it will register for...
18Jan2010 | vitalstocks | 0 comments | Continued(BG) Bunge Limited to Sell Brazil Fertilizer
Bunge Ltd. (BG), a leading integrated global agribusiness and food company in the U.S., is currently engaged in discussions with Vale S.A. (VALE), a diversified metals and mining company, to sell its fertilizer business in Brazil Incorporatedluding its 42.3% stake in fertilizer...
18Jan2010 | vitalstocks | 0 comments | Continued