Archive for January, 2010
(MS) Morgan Stanley Analysts Initiate Coverage at Neutral
We recently initiated coverage on Morgan Stanley (MS) with a Neutral recommendation. The company’s third-quarter earnings of 38 cents per share was substantially ahead of the Zacks Consensus Estimate of 30 cents per share. Net revenues for the quarter were $8.7 billion, up...
11Jan2010 | vitalstocks | 0 comments | Continued(ABMD) Abiomed Reports Preliminary Results
Abiomed, Inc. (ABMD) reported preliminary results for the third quarter of fiscal 2010. Total revenues were roughly $22.8 million, an increase of 32% year over year and were at a record high. The company will report full results for the third quarter on Feb 4, 2010. Worldwide...
11Jan2010 | vitalstocks | 0 comments | Continued(WM) Waste Management Expands Recycling Services
Waste Management, Inc. (WM) announced the acquisition of City Wide Recycling LLC, which further expands the company’s recycling services provided to construction and demolition contractors. The company said that the transaction was closed on Dec 31, 2009. Waste Management pointed...
11Jan2010 | vitalstocks | 0 comments | Continued(MDRX) Allscripts-Misys Healthcare Solutions Beats Analyst Estimates
Allscripts-Misys Healthcare Solutions, Inc. (MDRX) reported second quarter fiscal 2010 earnings per share of 16 cents, beating the Zacks Consensus Estimate of 13 cents and the year-ago earnings of 14 cents. Sales Total revenues in the second quarter increased 31.6% year over...
11Jan2010 | vitalstocks | 0 comments | Continued(WFSL) U.S. Bank Failures Continue Into 2010
U.S. regulators on Friday shuttered Horizon Bank of Bellingham, Washington, making it the first of the expected high number of small bank failures in 2010. Also, in California, the Bakersfield-based Kern Central Credit Union was seized by the National Credit Union Administration...
11Jan2010 | vitalstocks | 0 comments | Continued(MNKD) MannKind Corporation Gets FDA Setback
Recently, MannKind Corporation (MNKD) received a setback regarding the approval of its much awaited product Afrezza (formerly known as Afresa) ? inhaled insulin for the treatment of type I and type II diabetes. While the original Prescription Drug User Fee Act (PDUFA) date was...
11Jan2010 | vitalstocks | 0 comments | Continued(MRK) Roche Eyes COPD Market
Roche (RHHBY.PK) has entered into an alliance with the Belgian biotech company Galapagos to develop new therapies for the treatment of chronic obstructive pulmonary disease (COPD). While Galapagos will be responsible for the development of COPD targets and drug candidates for...
11Jan2010 | vitalstocks | 0 comments | Continued(HPY) Heartland Payment Systems Settles Data Breach
To resolve the 2008 data breach claims with major card issuers, Heartland Payment Systems (HPY) said on Friday that it will pay about $60 million to issuers of Visa (V) credit and debit cards. The 2008 data breach allowed hackers to gain card information. The payment will help...
11Jan2010 | vitalstocks | 0 comments | Continued(GS) Sumitomo Mitsui Financial Group to Buyback $1.1B Shares From Goldman Sachs Group
Tokyo-based Sumitomo Mitsui Financial Group Inc. (SMFG) recently announced that it will buyback its preferred share capital worth about $1.1 billion from Goldman Sachs Group Inc. (GS) to convert into common stock. SMFG has offered the conversion to Goldman Sachs in the wake of...
11Jan2010 | vitalstocks | 0 comments | Continued(BHI) Weekly U.S. Drilling Rig Count Grows by 31
In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), reflecting ramped-up drilling activity by producers in response to the recent optimism about...
11Jan2010 | vitalstocks | 0 comments | Continued(ABT) Abbott’s XIENCE V Uncovers New Market
Abbott’s (ABT) XIENCE V Everolimus Eluting Coronary Stent System recently received approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) for the treatment of coronary artery disease (CAD). Abbott is looking to launch the product shortly. In our opinion, the...
11Jan2010 | vitalstocks | 0 comments | Continued(JEC) Jacobs Engineering – Bear of the Day
Jacobs Engineering Group Inc. (JEC) is one of the leading providers of professional, technical and construction services to industrial, commercial and governmental clients. The company’s ongoing acquisition strategy will help it to strengthen its position in future. However,...
11Jan2010 | vitalstocks | 0 comments | Continued(ALV) Autoliv Incorporated – Forth Quarter Earnings Guidance Raised
Autoliv, Inc. (ALV) recently hit a new 52-week high after the company raised its Q4 guidance on strong demand out of China and automakers resocking invesntories. Q4 Guidance Raised On Dec 11, Autoliv boosted its Q4 outlook, saying it expects sales to increase 35% from last year,...
11Jan2010 | vitalstocks | 0 comments | Continued(RSH) RadioShack Corporation – Bull of the Day
We upgrade our recommendation for RadioShack Corp. (RSH) to Outperform based on our assessment that the company is likely to improve its earnings in the future reporting quarters as a result of significant boom in the wireless industry. The company is generating healthy revenue...
11Jan2010 | vitalstocks | 0 comments | Continued(THC) Tenet Healthcare Corporation – Income Nearly Doubles
Tenet Healthcare Corp (THC) is surging after analyst upgrades and upward revisions. Company Description Tenet owns and operates hospitals, health care facilities, and invests in other health care companies. The company’s rehab hospitals, specialty hospitals, and long-term...
11Jan2010 | vitalstocks | 0 comments | Continued(COCO) Corinthian Colleges Inc. – Analysts Looking for Continued Growth
Corinthian Colleges, Inc. (COCO) continues to see growth as more people go back to school for further education and retraining due to the recession. The stock is even cheaper than when I last reviewed it on Oct 15, 2009 as it now trades with a forward P/E of just 8.89 compared...
11Jan2010 | vitalstocks | 0 comments | Continued(TM) Toyota Motor’s Prius is Top Selling Vehicle in Japan
Toyota Motor’s (TM) gas-electric hybrid Prius has been judged the top-selling car in Japan. The automaker sold as many as 208,876 units of the car in 2009, which is nearly three times that model’s sales volume in 2008. The third generation 4-door compact hybrid, Toyota...
10Jan2010 | vitalstocks | 0 comments | Continued(LWSN) Lawson Software Beats Earnings Estimates
Lawson Software, Inc. (LWSN) reported revenues of $184.4 million in the second quarter of fiscal 2010, down 10.6% year over year. Excluding foreign currency fluctuations, revenues declined 12%. Software revenues (comprising of license and maintenance revenues) declined by 6%....
10Jan2010 | vitalstocks | 0 comments | Continued(NETC) NET Servicos de Comunicacao S.A. Downgraded to Neutral
We downgrade our recommendation for NET Servicos de Comunicacao S.A. (NETC) to Neutral, which means the stock will perform mostly in line with the broader market. The stock price has moved up more than 150% in the last year and is currently trading at the high end of its 52-week...
10Jan2010 | vitalstocks | 0 comments | Continued(MAR) Marriott International Lifts Revenue per Room Outlook
Marriott International Inc. (MAR) has provided a better outlook for its North American hotels for the fourth quarter of 2009. The company now expects comparable systemwide revenue per available room (RevPAR) inside North America to decline 13% – 14%. This is slightly better...
10Jan2010 | vitalstocks | 0 comments | Continued(CTAS) Unemployment Weighs Down Cintas Corporation
After posting a positive earnings surprise in the first quarter of fiscal 2010, Cintas Corp. (CTAS) recently reported lower-than-expected earnings for the second quarter. The company posted second-quarter earnings of 37 cents per share compared to the Zacks Consensus Estimate...
10Jan2010 | vitalstocks | 0 comments | Continued(LTD) Limited Brands Raises Fourth Quarter Outlook
Limited Brands, Inc. (LTD), a specialty retailer of women’s intimate and other apparel, beauty and personal care products, recently raised its fourth-quarter 2009 guidance on the heels of better-than-expected sales and merchandise margin rates in the quarter. Limited Brands...
10Jan2010 | vitalstocks | 0 comments | Continued(BAC) Bank of America to Pay 2007 Level Bonuses
With an attempt to retain key employees following its takeover of Merrill Lynch & Co., Bank of America Corp. (BAC) is likely to pay bonuses to its investment bankers close to what they received in 2007. BofA is expected to pay about 25% of 2009 bonuses in cash and the rest...
10Jan2010 | vitalstocks | 0 comments | Continued(GG) Goldcorp to Acquire 70% of EI Morro Copper-Gold Mining Project
Goldcorp Inc. (GG), the world’s second-largest gold producer, has announced its plans of acquiring a 70% stake in the EI Morro copper-gold mining project in north-central Chile. Goldcorp plans to advance a loan of $463 million to New Gold Inc. (NGD), which owns 30% of the mine...
10Jan2010 | vitalstocks | 0 comments | Continued(CVX) Chevron and Nippon Oil in Liquefied Natural Gas Deal
Chevron Corp. (CVX), the second-biggest U.S. energy company, has entered into a deal to sell 300,000 tons of liquefied natural gas (LNG) per annum from its Gorgon venture in Australia. The company said its Australian subsidiary has signed a long-term agreement with Japanese refiner...
10Jan2010 | vitalstocks | 0 comments | Continued($BP) Natural Gas Stocks Dip to Match Forecasts
The federal government’s Energy Information Administration (EIA) reported an in line decline in natural gas supplies. Stockpiles held in underground storage in the lower 48 states fell by 153 billion cubic feet (Bcf) for the week ended Jan 1. The inventory decline was the fifth...
10Jan2010 | vitalstocks | 0 comments | Continued(AXP) Unemployment Duration Still Increasing
What really sets this recession apart from all previous post-war recessions is the difficulty people have in going back to work after they have been laid off. In any economic environment, there are always jobs that are being lost, and new jobs created. It is the net number that...
10Jan2010 | vitalstocks | 0 comments | Continued(WPI) Watson Pharmaceuticals Coverage Initiated at Neutral
We recently initiated coverage on Watson Pharmaceuticals, Inc. (WPI) with a “Neutral” recommendation and a target price of $42. The company enjoys a strong position in the generics market. We believe the company’s strategy of developing generics that are difficult to...
10Jan2010 | vitalstocks | 0 comments | Continued(ZGEN) ZymoGenetics Announced Plans to Offer 12 Million Common Shares
ZymoGenetics Inc. (ZGEN) recently announced that it will sell 12 million shares of its common stock in a public offering. The underwriters will have a 30-day option to purchase up to a further 1.8 million shares of common stock to cover any over-allotments. The sole manager for...
8Jan2010 | vitalstocks | 0 comments | Continued(PVSW) Pervasive Software Narrows Earnings Guidance
Pervasive Software Inc. (PVSW) recently narrowed its guidance for the second quarter. The company now expects revenues to come between $11.5 million and $11.7 million compared to the previous guidance of revenues between $11.0 million and $12.0 million. Earnings per share (EPS)...
8Jan2010 | vitalstocks | 0 comments | Continued