Archive for February, 2010
(AZN) AstraZeneca Signs Rheumatoid Arthritis Drug Licensing Deal
For quite some time, AstraZeneca (AZN) has been entering into licensing deals to strengthen its pipeline, the latest being with Rigel Pharmaceuticals. The two companies recently announced a worldwide license agreement to develop and commercialize fostamatinib disodium (R788),...
24Feb2010 | vitalstocks | 0 comments | Continued(AIG) AIG-MetLife Deal Faces Tax Dispute
According to the Wall Street Journal, the proposed sale of American International Group’s (AIG) unit American Life Insurance Co (Alico) to MetLife Inc. (MET) faces a tax dispute which may call for a special ruling by the Internal Revenue Service (IRS). The dispute pertains...
24Feb2010 | vitalstocks | 0 comments | Continued(BBBY) Bed Bath & Beyond – Earnings Estimates Advance
Bed Bath & Beyond, Inc. (BBBY) recently rebounded from a key trend line to move back within striking distance of the 52-week high on the heels of the company’s better expected Q3 results from early January. Company Description Bed Bath & Beyond, Inc., together with...
24Feb2010 | vitalstocks | 0 comments | Continued(AMGN) Amgen Awaits US Food and Drug Administration Action on Osteoporosis Drug Candidate
The US Food and Drug Administration (FDA) recently accepted Amgen, Inc.’s (AMGN) complete response submission for Prolia, the company’s lead pipeline candidate, and established an action date of Jul 25, 2010. Amgen is seeking approval for the use of Prolia (denosumab) for...
24Feb2010 | vitalstocks | 0 comments | Continued(CATO) Cato Corporation – Value-Conscious Shoppers Driving Growth
The Cato Corp. (CATO) should continue to benefit from frugal consumers. Company Description The Cato Corporation is a specialty retailer that caters to fashion and value conscious shoppers in the southeastern US. Cato operates nearly 1,300 stores in 31 states under the Cato and...
24Feb2010 | vitalstocks | 0 comments | Continued(CECO) Career Education Corporation – Earings Report Beats by 125% in the Fourth Quarter
Career Education Corporation (CECO) continues to make the rotten economy work in its favor as revenue and student population jumped by double digits in 2009. CECO has a price-to-book ratio of 2.53. Company Description Career Education provides higher education in the form of...
24Feb2010 | vitalstocks | 0 comments | Continued($GOOG) Google Still Experiencing Legal Troubles with European Union
Search giant Google Inc. (GOOG) is facing increasing tensions in Europe, as the company’s actions are now being scrutinized by the European Union’s competition council. The EU probe follows three separate complaints by ejustice.fr (a French legal search engine), Foundem (a...
24Feb2010 | vitalstocks | 0 comments | Continued(CBRL) Cracker Barrel Old Country Store Earnings Soar
Cracker Barrel Old Country Store, Inc. (CBRL), a family-dining restaurant chain, recently posted better-than-expected second-quarter 2010 results on the heels of menu price increases, lower food and labor costs, and ‘Seat to Eat’ initiative. The quarterly earnings of $1.09...
24Feb2010 | vitalstocks | 0 comments | Continued(JEC) Jacobs Engineering Group Wins $38.7 Million Contract
Recently, Jacobs Engineering Group Inc. (JEC) was awarded a contract by the Space and Naval Warfare Systems Command (SPAWAR) headquarters in San Diego, CA. SPAWAR designs, develops and deploys advanced communications and information capabilities, and provides much of the tactical...
24Feb2010 | vitalstocks | 0 comments | Continued(EVVV) ev3 Reports Earnings In-Line With Consensus
ev3, Inc. (EVVV) recently reported fourth quarter and full fiscal 2009 results. For the fourth quarter, earnings per share were 12 cents, in line with the Zacks Consensus Estimate and higher than the year-ago loss of 2 cents. For fiscal 2009, earnings per share were 40 cents,...
24Feb2010 | vitalstocks | 0 comments | Continued(HPQ) Hewlett-Packard’s Earnings Report Delivers
Hewlett-Packard (HPQ) reported first quarter EPS of $1.10, exceeding the Zacks Consensus estimate by 4 cents. Revenue Revenue for the quarter came in at $31.2 billion, an increase of 8.0% from the $28.8 billion reported in the year-ago period and up 5.0% on a currency adjusted...
24Feb2010 | vitalstocks | 0 comments | Continued(GSK) GlaxoSmithKline Sees Pipeline Setback
GlaxoSmithKline (GSK) recently received a pipeline setback when the US Food and Drug Administration (FDA) issued a Complete Response letter (CRL) regarding the company’s New Drug Application (NDA) for Horizant (gabapentin enacarbil) for the treatment of moderate-to-severe primary...
24Feb2010 | vitalstocks | 0 comments | Continued($BAC) Bank of America Shareholders OK Common Share Increase
Bank of America Corp. (BAC) shareholders on Tuesday approved the company’s intention to lift its number of common shares to 11.3 billion from 10 billion. The bank felt it necessary to increase its outstanding share-count to issue new stock to raise capital for the purpose of...
24Feb2010 | vitalstocks | 0 comments | Continued(WFSL) Washington Federal Analyst Upgrades to Neutral
We are upgrading our recommendation on Washington Federal Inc. (WFSL) to Neutral from Underperform. The company’s fiscal first quarter (ended Dec 31, 2009) earnings of 7 cents per share were a nickel short of the Zacks Consensus Estimate. This also compares unfavorably with...
24Feb2010 | vitalstocks | 0 comments | Continued(WL) Wilmington Trust Corporation Begins Stock Offering
In order to increase capital and enhance its liquidity, on Feb 22, 2010, Wilmington Trust Corp. (WL) announced the beginning of the public offering of its 18,875,000 shares that have been underwritten on its common stock. At $13.25 per share, the gross total stock offering is...
24Feb2010 | vitalstocks | 0 comments | Continued(DHI) New Home Sales Report Shows Plunge
We got some very bad news today on the Housing front. New Home Sales fell to a seasonally adjusted annual rate of 309,000 from 348,000 in December. That is a drop of 11.2%. The only real silver lining is that the December number was revised upwards from 342,000. The rate was...
24Feb2010 | vitalstocks | 0 comments | Continued(MDRX) Allscripts-Misys Healthcare Solutions Remains Rated Neutral
We recently reiterated our Neutral rating on Allscripts-Misys Healthcare Solutions, Inc. (MDRX) with a target price of $18.50 based on a P/E multiple of roughly 32.5x our fiscal 2010 EPS estimate of 57 cents. Allscripts reported second quarter fiscal 2010 earnings per share of...
24Feb2010 | vitalstocks | 0 comments | Continued(GAS) Nicor Beats Consensus Estimate – Earnings Surge
Gas distributor Nicor Inc. (GAS) reported better-than-expected fourth quarter results, reflecting improved operating income in the company’s gas distribution and other energy-related businesses on the back of higher rates and cost control. This was partially offset by lower...
24Feb2010 | vitalstocks | 0 comments | Continued(F) Chicago Auto Show: The Future Is Now?
Chicago Auto Show: The Future Is Now? At the currently running Chicago Auto Show, all types have turned out to get a glimpse of what will grace our boulevards and freeways in the next few years. Clearly one does not need to be a hardcore gear-head to take a strong interest these...
23Feb2010 | vitalstocks | 0 comments | Continued(PCG) PG&E Beats Earnings Consensus Estimates
PG&E Corporation (PCG) with earning per share (EPS) of 80 cents in the fourth quarter of fiscal 2009 comfortably beat the Zacks Consensus EPS estimate of 74 cents. It also scurried past the year-ago EPS of 70 cents. The uptrend was reflected in fiscal 2009 results, also where...
23Feb2010 | vitalstocks | 0 comments | Continued(SIRI) Broadcasting is the strongest sector
Back when I was a student I used to spend hours in the library reading Trendlines and Value Line. I learned two important lessons: always know what industries are presently enjoying the best price momentum and then find the best companies in those industries. According to Barchart...
23Feb2010 | Shawn | 0 comments | Continued(FSLR) First Solar Tops Expectations – Reaffirms View
First Solar Inc. (FSLR) surpassed the Zacks Consensus earnings per share (EPS) estimate of $1.49 by 16 cents to reach $1.65 in the fourth quarter of fiscal 2009. It also beat the year-ago quarterly EPS figure of $1.61 by 4 cents. The upbeat trend was reflected in fiscal 2009...
23Feb2010 | vitalstocks | 0 comments | Continued(WFC) Wells Fargo Doubles Home Affordable Modification Program
In an attempt to reduce the number of foreclosed homes across the US, on Wednesday Wells Fargo & Company (WFC) announced that it continues to proceed swiftly with its extensive and incessant use of the federal Home Affordable Modification Program (HAMP) along with its other...
23Feb2010 | vitalstocks | 0 comments | Continued(ORCL) Oracle Analyst Bullish on Long-Term
We remain positive on Oracle Corp.’s (ORCL) long-term growth and expect 2011 results to be strongly aided by the Sun Microsystems acquisition, which provides an impetus for growth in fiscal 2011 and beyond. We expect increased accretive synergies strengthening its competitive...
23Feb2010 | vitalstocks | 0 comments | Continued(FE) FirstEnergy’s Earnings Report Tops Expectations
FirstEnergy Corp. (FE) posted fourth-quarter adjusted earnings of 77 cents per share, topping the Zacks Consensus Estimate of 74 cents. The better-than-expected results were driven by lower operation and maintenance expenses, higher investment income, the impact of delivery service...
23Feb2010 | vitalstocks | 0 comments | Continued(LOW) Lowe’s Earnings Report Beats Consensus Estimates
Lowe’s Companies, Inc. (LOW), the world’s second largest home improvement retailer, recently reported better-than-expected fourth-quarter 2009 results, showing signs of improvement with consumers now willing to spend on remodeling projects. The shares of Lowe’s rose in...
23Feb2010 | vitalstocks | 0 comments | Continued(QCOM) Qualcomm Analyst Upgrades to Neutral
We upgrade our recommendation for Qualcomm Inc. (QCOM) to Neutral, which means the stock will perform in line with the broader market. The company’s first quarter of fiscal 2010 financial results was broadly in line with the Zacks Consensus Estimates. According to our assessment,...
23Feb2010 | vitalstocks | 0 comments | Continued(BTU) Peabody Energy Corporation to Cut CO2 Emissions
Peabody Energy Corp. (BTU) signed an agreement with GreatPoint to pursue development of coal-to-gas and coal-to-hydrogen projects in the U.S. and around the world with carbon capture and storage (CCS) that would achieve near-zero carbon emissions while liberating vast quantities...
23Feb2010 | vitalstocks | 0 comments | Continued(SLE) Sara Lee Corporation – Bull of the Day
We still hold an Outperform rating on Sara Lee (SLE) shares to reflect our favorable view of management’s various initiatives to achieve growth and streamline operations. The company’s Transformation Plan is expected to generate sales growth in the range of 4% to...
23Feb2010 | vitalstocks | 0 comments | Continued(PTIE) Eleven stocks to watch: February 22, 2010
Each weekend I use Barchart to screen for a list of stocks that I think may be of interest to my readers in the coming week. I am not recommending these stocks, I just want to share with you a screening process and it’s up to you to do further research and see if there...
23Feb2010 | Shawn | 0 comments | Continued