Archive for January, 2010
(RDSA) Royal Dutch Shell Steps in for Petrobras Stake
Royal Dutch Shell (RDSA) is keen to buy a 15% stake in Krishna Godavari (KG) basin block KG-DWN-98/12 from India’s Oil and Natural Gas Corporation (ONGC). This stake was previously owned by Petrobras (PBR), Brazil’s state-controlled oil firm. Petrobras has decided to offload...
5Jan2010 | vitalstocks | 0 comments | Continued(BJRI) Restaurant Industry Update – Jan. 2010 – Industry Outlook
The restaurant industry has been facing extremely tough challenges due to the ongoing economic turmoil. With a weak labor market, lower discretionary spending and continued credit-market access issues, it may be too early to predict any improvement in the restaurant industry,...
5Jan2010 | vitalstocks | 0 comments | Continued(PFE) Pfizer FDA Drug Approval Delayed
Pfizer (PFE) announced that the US Food and Drug Administration (FDA) is yet to complete its review of the Biologics License Application (BLA) for Prevnar 13, its 13-valent pneumococcal conjugate vaccine, thereby pushing its approval beyond the prescription drug user fee (PDUFA)...
4Jan2010 | vitalstocks | 0 comments | Continued(PTR) PetroChina Company Limited Upped to Outperform
We are upgrading PetroChina Company Limited (PTR) ADRs to Outperform from Neutral, reflecting the company’s leverage to the fast growing Chinese market and the turnaround in commodity prices. Being one of the two Chinese integrated oil companies, PetroChina is well-positioned...
4Jan2010 | vitalstocks | 0 comments | Continued(PRU) Prudential Financial Concludes Wachovia Sale
Last week, Prudential Financial (PRU) announced that it has completed the previously announced sale of its minority interest in Wachovia Securities Financial Holdings to Wells Fargo & Co. (WFC) for $4.5 billion in cash. Apart from this the company has also received $418.4...
4Jan2010 | vitalstocks | 0 comments | Continued(SI) Siemens AG Wins Russian Railway Order
Siemens AG (SI) won an order from the Russian Railways to supply 54 regional trains for the 2014 Winter Olympics in Sochi. The deal is valued at up to 580 million euros ($832 million). A firm order worth around 410 million euros has been placed for the first 38 Desiro type trains,...
4Jan2010 | vitalstocks | 0 comments | Continued(AET) Aetna Downgraded to Underperform by Analyst
Although the current economic scenario has improved a lot, it is still posing a major challenge for Aetna (AET). The current state of the global economy and market conditions are quite challenging with high levels of unemployment, diminished business and consumer confidence and...
4Jan2010 | vitalstocks | 0 comments | Continued(LTD) Limited Brands Announces Exchange Offer for Notes
Limited Brands Inc. (LTD), a premier retail company, recently announced an exchange offer for its outstanding 8.5% Senior Notes due 2019, originally issued on Jun 19, 2009, in a private offer aggregating $500 million in principal. In accordance with the sale, Limited Brands entered...
4Jan2010 | vitalstocks | 0 comments | Continued(M) Analysts Are Initiating Macy’s at Neutral
We have recently initiated coverage on Macy’s, Inc. (M), one of the leading department store retailers in the United States , with a Neutral recommendation and a target price of $18, as we anticipate it to perform in line with the industry. Based in Cincinnati, Ohio with another...
4Jan2010 | vitalstocks | 0 comments | Continued(DIS) Walt Disney Completes Marvel Entertainment Buyout
Walt Disney Co. (DIS) recently announced the completion of its acquisition of Marvel Entertainment, Inc. (MVL). Walt Disney acquired Marvel in a cash and stock deal for approximately $4.24 billion. Marvel shareholders received in aggregate $30 per share in cash and approximately...
4Jan2010 | vitalstocks | 0 comments | Continued(MDCO) The Medicines Company is Upgraded to Neutral
We recently upgraded our recommendation on The Medicines Company (MDCO) to Neutral from Underperform. Despite the economic slowdown and cost-cutting by hospitals, The Medicines Company’s lead product Angiomax continues to perform well. We expect Angiomax sales to remain strong...
4Jan2010 | vitalstocks | 0 comments | Continued(TWC) News Corporation’s Fox Strikes Timely Deal with Time Warner Cable
With the expiry of the earlier contract at midnight Dec 31, Time Warner Cable Inc. (TWC) forged a new programming deal with News Corp. (NWSA) to continue broadcasting hit programs from the Fox Broadcast Network, ending a series of public spat that threatened to deny customers...
4Jan2010 | vitalstocks | 0 comments | Continued(BRS) Two Stocks Recently Surged Higher to Hit New 52-Week Highs – Charting Zacks Elite Stocks
Bristow Group, Inc. (BRS) recently surged past a short-term level of resistance just above $35 to hit a new 52-week high at $39.20. Shares of BRS have spent most of the last 9 months trending higher after bottoming out with the market in early March. The long-term trend is still...
4Jan2010 | vitalstocks | 0 comments | Continued(BRS) Bristow Group – Earnings Estimates are Steady
Bristow Group, Inc. (BRS) continues to set new highs after breaking through resistance. Company Description Bristow Group provides helicopter services to the offshore energy industry, worldwide. The company provides transportation, maintenance, search and rescue, and related...
4Jan2010 | vitalstocks | 0 comments | Continued(AAPL) Apple Corporation – Consensus Earnings Estimates Jump
Apple Corporation’s (AAPL) stock continues to be on fire as it hit all-time highs of $213.35 to end 2009. The stock is soaring on optimism over the holiday season and rumors about a possible new product announcement at a conference in late January. The tech blogs have been...
4Jan2010 | vitalstocks | 0 comments | Continued(UNTD) United Online Incorporated – Analysts Expect Earnings Growth of 29.71%
United Online, Inc. (UNTD) has been riding the social media phenomena over the last year and has strung together 3 consecutive earnings surprises. United Online operates Internet retail and social networking sites including Classmates Media, mypoints.com, and the floral brands...
4Jan2010 | vitalstocks | 0 comments | Continued(TESS) TESSCO Technologies Inc. – Estimates Climbed Over The Past 90 Days
TESSCO Technologies Inc. (TESS) has outpaced the market with a 5% advance since it was last featured as a Growth and Income pick in late November. Analysts polled by Zacks continue to be bullish on earnings. For the fiscal year ending March 2010, the Zacks Consensus Estimate...
4Jan2010 | vitalstocks | 0 comments | Continued(RSH) RadioShack Upgraded to Outperform by Analyst
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 quarters as a result of a significant boom in the wireless industry. RadioShack is one of the most experienced and trusted...
4Jan2010 | vitalstocks | 0 comments | Continued(BAC) Treasury Department Wraps Up Banks Bailout
The Treasury Department said last Thursday that with the injection of $29.3 million into 10 banks it has wrapped up its taxpayer-funded bailout program for banks. The fund comes from the $700 billion Troubled Asset Relief Program (TARP) initiated by the government after enduring...
4Jan2010 | vitalstocks | 0 comments | Continued(AIG) American International Group to Pay Stock Units For Executives
American International Group Inc. (AIG) said last Thursday that for paying stock salary to its top executives for 2009, it will use stock units instead of common stock. The stock units will reflect the value of AIG’s common stock. This arrangement is in compliance with...
4Jan2010 | vitalstocks | 0 comments | Continued(SYK) Stryker Completes Acquisition of Ascent Healthcare Solutions
Stryker Corporation (SYK) recently completed the acquisition of Ascent Healthcare Solutions, the market leader in the reprocessing and remanufacturing of medical devices in the U.S. The acquisition will be neutral to Stryker’s earnings per share in 2010 and accretive thereafter. Post-acquisition,...
4Jan2010 | vitalstocks | 0 comments | Continued(VRX) Valeant Pharmaceuticals International Drug Accepted by FDA
Recently, Valeant Pharmaceuticals International (VRX) announced that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) for marketing approval for its drug candidate retigabine. Retigabine is a neuronal potassium channel opener indicated for...
4Jan2010 | vitalstocks | 0 comments | Continued(BA) Boeing Wins $12.4 Million U.S. Navy Contract
Boeing Co. (BA) won a $12.4 million contract from the U.S. Navy to repair various components of the F/A-18 Super Hornet fighter jet. The work will be performed in Lemoore, California, Cecil Field, Florida and Philadelphia. The company expects to finish the work by Dec 31, 2010. Boeing’s...
4Jan2010 | vitalstocks | 0 comments | Continued(OPNT) OPNET Technologies – Bull of the Day
We are extending our estimates on OPNET Technologies (OPNT) through 2012 fiscal year. OPNET reported exceptional second quarter results due to strong new software license revenue. Gross profit margins were well above expectations. We expect gains in market share to continue....
4Jan2010 | vitalstocks | 0 comments | Continued(CDNS) Cadence Design Systems – Bear of the Day
Cadence (CDNS) reported weak results for the third quarter, and blamed the shortfall on softness in EDA spending. We expect that a turnaround is going to take time due to mounting financial problems leading to lackluster growth. Fourth quarter and 2009 guidance was not encouraging....
4Jan2010 | vitalstocks | 0 comments | Continued(F) Geely Holding Corporation Optimistic About Volvo from Ford Motor
China-based Zhejiang Geely Holding Group is optimistic about its acquisition of Swedish brand Volvo from Ford Motor Co. (F). Geely is close to acquiring Volvo in early 2010, with strong support from the Chinese Government. Geely is eager to tap China’s high-growth auto...
1Jan2010 | vitalstocks | 0 comments | Continued(SCHS) School Specialty Analysts Upgrade to Neutral
We recently upgraded our recommendation on School Specialty Inc. (SCHS) to Neutral from Underperform, buoyed by its initiative to reduce overheads and boost profitability. Operational consolidations, headcount reductions, improved supply chain management and other stringent cost-control...
1Jan2010 | vitalstocks | 0 comments | Continued($MS) Morgan Stanley Indicted for Collateralized-Debt Obligation Fraud
On Tuesday, Morgan Stanley (MS) was reportedly accused by the Employees’ Retirement System of the Virgin Islands of swindling its investors by promoting $1.2 billion of risky low-quality mortgage-related notes in 2007 that it had already perceived to be non-profitable. The...
1Jan2010 | vitalstocks | 0 comments | Continued(ZOLL) ZOLL Medical Corporation Earns FDA Clearance
Recently, ZOLL Medical Corporation (ZOLL) announced that the U.S. Food and Drug Administration (FDA) approved the marketing of its E series defibrillators equipped with carbon monoxide (CO) monitoring. The new model of the ZOLL E series monitor/defibrillator is available for...
1Jan2010 | vitalstocks | 0 comments | Continued(X) Steel Output Rises Again
According to the data released by World Steel Association (Worldsteel), global crude steel production for the 66 countries reporting to Worldsteel improved 24.2% year over year to 107.5 million tons in November 2009. Crude steel production has been showing a positive growth rate...
1Jan2010 | vitalstocks | 0 comments | Continued