Archive for March, 2010
(NVAX) Novavax Reports Encouraging Phase II Trial Results
Recently, Novavax (NVAX) announced final results from a phase II trial of its trivalent seasonal influenza Virus-like particle (VLP) vaccine in adults 18-49 years of age. Initial results from the trial were reported in 2009. The initial analysis carried out on 190 people (aged...
31Mar2010 | vitalstocks | 0 comments | Continued(NEOG) Neogen’s Earnings Inches Past Estimates
Neogen Corp. (NEOG) posted fiscal 2010 third-quarter results on Monday. The company’s net income recorded a strong growth of 37.5% to $3.9 million, or 17 cents per share from $2.8 million, or 12 cents per share in the year-ago period. The result also squeezed past the Zacks...
31Mar2010 | vitalstocks | 0 comments | Continued(CPO) Corn Products International Incorporated – Consensus Earnings Estimates Rise
Corn Products International, Inc. (CPO) is seeing volumes rebound, especially in the South America and Asia/Africa segments. CPO is trading with a forward P/E of 14.6. Company Description Corn Products is the largest producer of dextrose in the world and manufactures starches,...
31Mar2010 | vitalstocks | 0 comments | Continued(ACH) Aluminum Corporation of China Swings to Losses
The world’s biggest aluminum company, Aluminum Corporation of China Ltd. (ACH) (Chalco), recorded net losses of $1.11 per ADR (RMB0.3433 per share) for the full year 2009 in contrast to net earnings of $0.004 per ADR (RMB0.0014 per share) in 2008. Lower selling prices and...
31Mar2010 | vitalstocks | 0 comments | Continued(NNI) Nelnet – Earnings Estimates Are Climbing
Nelnet (NNI) has a Zacks #1 Rank and trades at 7.3x 2011 consensus EPS estimates. Company Description Nelnet is a transaction processing and finance company. It provides education-related products and services including student loan servicing, claim processing, and post-default...
31Mar2010 | vitalstocks | 0 comments | Continued(SWK) Stanley Acquires Black & Decker
A few months back, The Stanley Works announced the acquisition of Black & Decker Corporation (BDK), and has recently completed the merger. According to the agreement, each outstanding share of BDK will be converted into 1.275 shares of Stanley Works. Stanley’s shareholders...
31Mar2010 | vitalstocks | 0 comments | Continued(ITW) Illinois Tool Works Reduces Earnings Guidance
Illinois Tool Works Inc. (ITW) receives Medicare prescription drug subsidies for retiree prescription drug coverage. However, based on the Patient Protection and Affordable Health Care program, those subsidies will now be taxable. Thus, Illinois Tool expects a tax adjustment...
31Mar2010 | vitalstocks | 0 comments | Continued(JBL) Jabil Circuit’s Report Beats The Street Consensus
Jabil Circuit, Inc. (JBL) recently reported its preliminary results for the second quarter 2010, beating the Zacks Consensus Estimate. Jabil’s second quarter is normally a sequentially down quarter due to the seasonal slowdown in consumer spending. Despite the unfavorable seasonality,...
31Mar2010 | vitalstocks | 0 comments | Continued(WTSLA) The Wet Seal Earnings Report Beats Estimates
The Wet Seal, Inc. (WTSLA) reported fourth-quarter fiscal 2009 (ended January 30, 2010) earnings of 10 cents per share (excluding special items) which surpassed the Zacks Consensus Estimate by 2 cents. The company earned 9 cents in the year-ago quarter. Net sales in the reported...
31Mar2010 | vitalstocks | 0 comments | Continued(ADP) Automatic Data Processing Jobs Report Disappoints
Automatic Data Processing (ADP) reported that in March the economy lost 23,000 private sector jobs. ADP is generally in a good position to know since it is by far the largest payroll processing firm in the country. This report is the most important precursor to the big jobs report...
31Mar2010 | vitalstocks | 0 comments | Continued(SNI) Scripps Networks Interactive Explores Global Initiatives
Scripps Networks Interactive Inc. (SNI) has undertaken several initiatives to explore international opportunities. The company’s flagship lifestyle TV channel “Fine Living Network” (FLN) will be available in South Africa from May 1, 2010. This is part of management...
31Mar2010 | vitalstocks | 0 comments | Continued(AVT) Avnet Set to Acquire Bell Microproducts
Avnet, Inc. (AVT) has entered a definitive agreement to acquire Bell Microproducts Inc. (BELM) for $7.00 per share, amounting to $252 million. The total transaction value was $594 million after assuming a net debt position for Bell of $342 million as of December 31, 2009. The...
31Mar2010 | vitalstocks | 0 comments | Continued(FXE) The PIIGS Are Getting Sloppier – Here’s How to Clean Up
Imagine this for a second… Riddled with debt, the state of Kansas defaults on its debt obligations. But instead of the U.S. federal government stepping in with financial help and guarantees, the International Monetary Fund jumps in with an aid package. It wouldn’t happen....
31Mar2010 | InvestmentU | 0 comments | Continued(ABT) Abbott Labs and Partner AstraZeneca See Regulatory Setback
Abbott Labs (ABT) and partner AstraZeneca (AZN) faced a regulatory setback recently when the US Food and Drug Administration (FDA) issued a complete response letter for their experimental drug, Certriad. Certriad is a fixed-dose, single pill formulation of Abbott’s next-generation...
31Mar2010 | vitalstocks | 0 comments | Continued(C) Citigroup Stock Held by U.S. Treasury to be Sold
Yesterday, the U.S. Treasury said that it plans to begin selling its stake in Citigroup Inc. (C). The sale of 7.7 billion shares or 27% of Citi’s common stock that the Treasury holds, would take place throughout 2010 and would be based on a pre-arranged trading plan. The Treasury...
31Mar2010 | vitalstocks | 0 comments | Continued(SJR) Shaw Communications to Test Fiber-to-the-Home
Canadian cable giant Shaw Communications Inc. (SJR) decided to test its super fast network that will support Internet access speed of 1 Gbps. For this, the company is all set to give trial run of its own Fiber-to-the-home (FTTH) network in Vancouver and Calgary. Shaw Communications...
31Mar2010 | vitalstocks | 0 comments | Continued(SU) Suncor Energy Divests More Assets
Canada’s Suncor Energy Inc. (SU) has entered into an agreement to sell certain natural gas-heavy assets in west-central Alberta for C$235 million ($230 million) in cash. The name of the buyer was not disclosed. Located at Rosevear and Pine Creek in the Edson/Whitecourt area,...
31Mar2010 | vitalstocks | 0 comments | Continued(AA) Alcoa Ramps Up Recycling Capacity
The US aluminum giant Alcoa Inc. (AA) has recently announced that it has expanded its aluminum can recycling capacity at its Tennessee operations by investing $24 million. This expansion would ramp up Alcoa’s recycling capacity by about 50% from the current capacity of 54%....
31Mar2010 | vitalstocks | 0 comments | Continued(SBS) Companhia de Saneamento Basico do Estado de Sao Paulo Posts Solid 2009 Results
Companhia de Saneamento Basico do Estado de Sao Paulo, or SABESP (SBS), reported encouraging results for the fourth quarter and full-year 2009. During the quarter, net income increased to R$457.3 million (US$104.1 million) from R$113.3 million in the same quarter of 2008. EPS...
31Mar2010 | vitalstocks | 0 comments | Continued(ARO) Aeropostale Incorporated – Reports Record-Setting Quarter
Aeropostale, Inc (ARO) shares are pressuring 52-week highs on the recent quarter’s results. Increasing sales lead to record earnings. Company Description Aeropostale is a mall-based, retailer of casual apparel and accessories, principally targeting teenagers. The Company...
31Mar2010 | vitalstocks | 0 comments | Continued(JWN) Nordstrom Opens New Rack Store in Florida
Nordstrom Inc. (JWN), a leading fashion specialty retailer, recently announced plans to open a new 35,375 square feet Nordstrom Rack store at the Promenade Shops center, an open-air shopping mall in Aventura, Florida. Promenade Shops center spans across 300,000 square feet of...
31Mar2010 | vitalstocks | 0 comments | Continued(RIG) Transocean Analyst Remains at Neutral
We are maintaining our Neutral recommendation on Transocean, Inc. (RIG) with a target price of $85. We like Transocean’s sizeable fleet of deep and ultra deepwater offshore drilling rigs, large contract revenue backlog that provides an unmatched level of cash flow visibility,...
31Mar2010 | vitalstocks | 0 comments | Continued(JPM) FDIC Complicates JPMorgan Chase’s Tax Refund
Federal Deposit Insurance Corp. (FDIC) is trying to oppose a proposed $1.4 billion tax refund for the second largest U.S. bank JPMorgan Chase & Co. (JPM) in relation to its takeover of banking operations of Washington Mutual in 2008, according to a Wall Street Journal report. Bankrupt...
31Mar2010 | vitalstocks | 0 comments | Continued(MGI) MoneyGram International Expands in Turkey
Expanding its presence in Turkey, on Tuesday, MoneyGram International Inc. (MGI) has announced its partnership with Bank Asya in Turkey, to enhance its money transfer service business by extending its service to the bank’s 160 domestic branches across the country, over a period...
31Mar2010 | vitalstocks | 0 comments | Continued(CRM) Salesforce.com Witnesses Customer Growth
Growing enterprise cloud computing company Salesforce.com (CRM) recently declared through a press release that it had substantially increased its customer base in the Asia-Pacific region. During the fiscal year ended January 31, 2010 the company added 1800 new customers in the...
31Mar2010 | vitalstocks | 0 comments | Continued(DELL) Dell Wins U.S. Department of Transportation Contract
The world’s third largest computer maker Dell Inc. (DELL) announced that it has won a contract from U.S. Department of Transportation, spanning over a period of 10 years, and bearing a deal value of $65.0 million. The company has won the contract, through the Dell Perot Systems...
31Mar2010 | vitalstocks | 0 comments | Continued(TQNT) TriQuint Earnings Estimate Scorecard
Estimates for TriQuint (TQNT) have been on the rise following the upgrade in outlook for the first quarter of 2010 by the company. TriQuint now expects revenue of $175 million in the quarter, up 47% year over year and up from the previous guidance of $170 million – $175 million. Earnings...
31Mar2010 | vitalstocks | 0 comments | Continued(ACL) Alcon Completes Product Deals
Alcon, Inc. (ACL) recently announced that it has acquired rights to two topical eye care products, Durezol and Zyclorin, from Sirion Therapeutics, Inc. Alcon also said that it is evaluating options to acquire another product, Zirgan, which is approved for the treatment of acute...
31Mar2010 | vitalstocks | 0 comments | Continued(CEPH) Cephalon Experiences Regulatory Setback
Cephalon, Inc. (CEPH) suffered a regulatory setback recently with its failure to receive outright approval from the US Food and Drug Administration (FDA) for its supplemental new drug application (sNDA) for Nuvigil. Cephalon was seeking to get Nuvigil approved for the treatment...
31Mar2010 | vitalstocks | 0 comments | Continued(MCO) Alcoa Earns Negative Outlook From Moody’s Investors Service
Rating agency Moody’s Investors Service (MCO) has reaffirmed its “Baa3″ rating on Alcoa Inc.’s (AA) Australian affiliate and assigned a “Negative” outlook, reports AP. Moody’s judges obligations rated “Baa” to have moderate credit risk. The...
31Mar2010 | vitalstocks | 0 comments | Continued