Archive for February, 2010
(NWSA) News Corporation – Bull of the Day
News Corporation (NWSA) reported better-than-expected second-quarter 2010 results on the heels of an improved advertising environment, and significant cost-cutting initiatives taken by management to combat the downturn. The company’s quarterly earnings topped the Zacks...
23Feb2010 | vitalstocks | 0 comments | Continued(HD) Retail in the Spotlight – Earnings Preview
Earnings Preview 2/19/10 Earnings Season is winding down, but that does not mean it is over. Next week will bring 570 earnings reports Incorporatedluding 57 members of the S&P 500. The focus will mostly be on the retailers, with such heavyweights as Home Depot (HD), Target...
23Feb2010 | vitalstocks | 0 comments | Continued(CSCO) Cisco Systems and Hewlett-Packard in Head-On Battle
Networking giant Cisco Systems (CSCO) has formally announced that it will be breaking off ties with longtime partner, Hewlett-Packard Company (HPQ). In an official blog posted Thursday, Cisco SVP of Worldwide Channels, Keith Goodwin stated that H-P’s system integrator contract,...
23Feb2010 | vitalstocks | 0 comments | Continued(JPM) U.S. Bank Failure Grow to Twenty in 2010
Though the economy is showing signs of a gradual recovery, bank failures continue as U.S. regulators on Friday closed down four more banks in California, Illinois, Texas and Florida. This brings the total number of bank failures to 20 so far in 2010, compared to 140 in 2009,...
23Feb2010 | vitalstocks | 0 comments | Continued(BAC) U.S. Treasury Sells Warrants of Four Banks
The U.S. Treasury Department is planning to auction off its warrant positions in four banks, which it received as part of its investments in banks through the $700 billion Troubled Asset Relief Program (TARP) during the height of the financial crisis. The government is taking...
23Feb2010 | vitalstocks | 0 comments | Continued(AXA) AXA Insurance Increases Profits
Insurance giant AXA (AXA) announced a surge in its 2009 net income to €3.61 billion from €923 million last year, due to lower writedowns on investments. Total revenues were down 3.0% to €90.1 billion, led by a 4.0% decline in life and savings and 25% decline in asset management...
23Feb2010 | vitalstocks | 0 comments | Continued(SLB) Schlumberger Acquires Smith International
The oilfield services giant Schlumberger Ltd. (SLB) has acquired lesser rival Smith International Inc. (SII) for approximately $11 billion in an all-stock deal, which is the biggest acquisition in the United States so far this year. The Wall Street Journal had reported on Friday...
23Feb2010 | vitalstocks | 0 comments | Continued(RRGB) Red Robin Gourmet Burgers Fails to Lure Diners
Red Robin Gourmet Burgers Inc. (RRGB), the casual dining restaurant operator, recently reported dismal fourth-quarter 2009 results. The quarterly earnings of 10 cents a share missed the Zacks Consensus Estimate of 16 cents and fell 76.7% from 43 cents posted in the prior-year...
23Feb2010 | vitalstocks | 0 comments | Continued($TM) Toyota Saves $100 Million on Recall
A document, reported by The Detroit News on Sunday, has revealed that Toyota Motor (TM) has saved $100 million by negotiating with regulators for a limited recall of 2007 Toyota Camry and Lexus ES cars over a problem that could cause unintended acceleration. The recall was related...
23Feb2010 | vitalstocks | 0 comments | Continued(ETP) Energy Transfer Partners L.P. Beats Expectations – Profit Rises
Energy Transfer Partners L.P. (ETP), a master limited partnership (MLP), announced better-than-expected fourth quarter results, helped by improved margins at its ‘Intrastate Transportation & Storage’ segment. The pipeline operator’s results were also boosted by a significant...
23Feb2010 | vitalstocks | 0 comments | Continued(AMMD) American Medical Systems Holdings Reports Strong Earnings
American Medical Systems Holdings, Inc. (AMMD) reported strong fourth quarter and full fiscal 2009 results. For the fourth quarter, earnings per share were 35 cents, surpassing the Zacks Consensus Estimate of 34 cents and the year-ago earnings of 30 cents. For fiscal 2009, earnings...
23Feb2010 | vitalstocks | 0 comments | Continued(GOOG) Federal Communications Commission Broadband Plan
US telecom regulator Federal Communications Commission (FCC) has reportedly unveiled its ambitious plan to catapult domestic broadband speeds over the next ten years. The agency seeks Internet service providers (ISPs) to offer broadband speeds of 100 megabits per second (Mbps)...
23Feb2010 | vitalstocks | 0 comments | Continued(IM) Ingram Micro Earnings Report Exceeds Expectations
Ingram Micro (IM) reported fourth quarter 2009 EPS of 64 cents, exceeding the Zacks Consensus Estimate of 52 cents per share. Revenues The company reported fourth-quarter 2009 revenues of $8.81 billion, up 1.0% from $8.68 billion reported in the year-ago quarter. The year-over-year...
23Feb2010 | vitalstocks | 0 comments | Continued(RRD) R.R. Donnelley & Sons Earnings Preview
R.R. Donnelley & Sons (RRD), a leader in the commercial printing industry, is scheduled to report fourth-quarter 2009 results on February 24, before the market opens. R.R. Donnelley is the largest printing company in the U.S., providing various global printing services to...
23Feb2010 | vitalstocks | 0 comments | Continued(ABX) Barrick Gold’s Earnings Report Slightly Above Expectations
Barrick Gold Corporation (ABX) reported a $604 million or 60 cents per share profit in the fourth quarter of 2009, almost double last year’s earnings of $277 million or 32 cents. Reported earnings were also ahead of the Zacks Consensus Estimate of 57 cents. The Canadian gold...
23Feb2010 | vitalstocks | 0 comments | Continued(SAH) Sonic Automotive Beats Estimates
Sonic Automotive (SAH) has revealed a profit of $7.2 million or 18 cents per share (excluding special items) for the fourth quarter of 2009, in stark contrast to a loss of $10.2 million or 21 cents per share (excluding special items) in the year-ago period. With this, the company...
23Feb2010 | vitalstocks | 0 comments | Continued(MDT) Medtronic Earnings Beat Consensus Estimates
Medtronic, Inc. (MDT) recently reported third quarter fiscal 2010 earnings per share of 77 cents, beating the Zacks Consensus Estimate of 76 cents and the year-ago earnings of 71 cents. Sales Total revenues in the third quarter increased 10% year over year to $3.851 billion....
23Feb2010 | vitalstocks | 0 comments | Continued($FNM) Housing Prices Show Small Rise
The Case-Schiller housing price indexes were released this morning, and both the Composite 10 (C-10) and the Composite 20 (C-20) showed monthly increases of 0.3% on a seasonally adjusted basis. Since there is a fair amount of seasonality in housing prices, the seasonally adjusted...
23Feb2010 | vitalstocks | 0 comments | Continued(DVAX) Dynavax Technologies Corporation Reports Progress
Dynavax Technologies Corporation (DVAX) announced recently it has selected the molecule DV1179 for clinical development in its endosomal Toll-like Receptor (TLR) inhibitor collaboration with GlaxoSmithKline (GSK). Currently, IND (Investigational New Drug)-Enabling Studies are...
23Feb2010 | vitalstocks | 0 comments | Continued($BP) Natural Gas Down on Weather Worries
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 190 billion cubic feet (Bcf) for the week ended Feb. 12, 2010. The inventory decline was...
23Feb2010 | vitalstocks | 0 comments | Continued(JWN) Nordstrom Plans New Rack Store
Nordstrom Inc. (JWN), a leading fashion specialty retailer, recently announced plans to open a new 43,000 square feet Nordstrom Rack in the Carolina Pavilion shopping center in south Charlotte. Carolina Pavilion spans across 732,000 square feet of space and hosts stores of leading...
23Feb2010 | vitalstocks | 0 comments | Continued(LVS) Las Vegas Sands’ Earnings Report Meets Forecast
Las Vegas Sands Corp. (LVS) reported fourth quarter earnings of 3 cents per share, a penny over the Zacks Consensus Estimate. The company had incurred a loss of 4 cents in the year-ago period. Results reflected the strong performance of its Macau business and the benefits of...
23Feb2010 | vitalstocks | 0 comments | Continued(HMC) Home Depot’s Earnings Report Misses – Raise Dividend
The Home Depot (HMC) reported fourth quarter 2009 results with earnings of 24 cents per share. However, earnings were below the Zacks Consensus Estimate of 36 cents, though they were up 26.3% year-over-year. Total sales for the quarter were almost flat year-over-year, declining...
23Feb2010 | vitalstocks | 0 comments | Continued(SHLD) Sears Holdings Beats Earnings Estimates
Sears Holdings Corp.’s (SHLD) fiscal 2009 fourth-quarter GAAP earnings more than doubled to $430 million from $190 million in the year-ago period. Excluding special items, adjusted earnings per share came in at $3.69 per share, which topped the Zacks Consensus Estimate of $3.54...
23Feb2010 | vitalstocks | 0 comments | Continued(CBI) Chicago Bridge & Iron Beats
Chicago Bridge & Iron (CBI), a.k.a. CB&I, has reported fourth quarter 2009 results. Net income was $41.2 million, or 41 cents per share, topping the Zacks Consensus Estimate of 39 cents per share. Quarterly revenue was $1.0 billion. New awards totaled $3.4 billion in...
23Feb2010 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorp Analysts Upgrade to Neutral
Given the current market recovery factor and valued growth indicators, we are upgrading our recommendation on the shares of Zions Bancorp. (ZION) to Neutral from Underperform. Although the current economic turmoil has weakened both the revenue growth and the operating leverage...
23Feb2010 | vitalstocks | 0 comments | Continued(ODP) Office Depot Earnings Report Details Loss
Office Depot Inc. (ODP) reported discouraging results for fourth quarter and full year 2009. During the quarter, total revenue declined 6% year over year to $3.1 billion. Full year 2009 revenues were $12.1 billion, down 16% from 2008, principally driven by adverse economic conditions...
23Feb2010 | vitalstocks | 0 comments | Continued(WU) Western Union Company – Bear of the Day
We are initiating coverage on Western Union Co. (WU) with an Underperform rating. The company’s fourth quarter earnings narrowed compared to the prior-year quarter as a result of lower transaction volumes due to ongoing market challenges and the dilutive effects of recent...
23Feb2010 | vitalstocks | 0 comments | Continued(DAI) Daimler AG Reports it Loses Nearly $4 Billion
Daimler AG (DAI) lost €2.6 billion ($3.7 billion) or €2.63 ($3.67) per share in 2009, in sharp contrast to a profit of €1.4 billion ($2 billion) or €1.41 ($1.97) per share in the previous year. The loss was attributable to a 24% decline in unit sales to 1.6 million vehicles...
23Feb2010 | vitalstocks | 0 comments | Continued(TGT) Target Beats Analyst Consensus
Target Corporation (TGT) reported fourth quarter results with earnings of $1.24 per share. Earnings were well above the Zacks Consensus Estimate of 77 cents and were up a robust 53.3% year-over-year. Profits were driven by better-than-expected holiday sales. Total revenue for...
23Feb2010 | vitalstocks | 0 comments | Continued