Archive for March, 2010
(BAC) Bank of America Begins to Forgive Home-Loan Principal
According to the agreement with state attorneys general to help homeowners who got high-risk home loans from Countrywide Financial, Bank of America Corp. (BAC) said on Wednesday that it would forgive about $3 billion in principal loan amount to about 45,000 troubled borrowers. The...
25Mar2010 | vitalstocks | 0 comments | Continued(ENR) Energizer Holdings Analysts Upgrade Stock to Neutral
We are upgrading Energizer Holdings, Inc. (ENR) to Neutral from our previous Underperform rating indicating that it will continue to perform in line with the market. The target price of $66.00 is based on a P/E multiple of 12.5X our 2010 EPS estimate. Energizer Holdings’ first...
25Mar2010 | vitalstocks | 0 comments | Continued(HGSI) Human Genome Sciences Releases Encouraging Data on Zalbin
Recently, Human Genome Sciences Inc. (HGSI) announced interim results on hepatitis C candidate Zalbin from a mid-stage study. The study evaluated the safety and efficacy of Zalbin. The results revealed that a monthly dose of Zalbin was as effective as a weekly dose of Roche’s...
25Mar2010 | vitalstocks | 0 comments | Continued(WFC) Wells Fargo to Buy GMAC Unit
On Wednesday, Wells Fargo & Co. (WFC) announced its intention to buy the North American factoring business of a unit of GMAC Inc. (GJM), the U.S. auto finance company, for undisclosed value and terms. However, the deal is expected to be completed by April 30, 2010. GMAC’s...
25Mar2010 | vitalstocks | 0 comments | Continued(C) Citigroup Stake to be Sold by U.S. Treasury
The U.S. Treasury may sell its 27% stake in Citigroup Inc. (C) through a preset trading plan, according to a Bloomberg report. This program may be announced as early as next month. The plan would bind the government into a schedule of selling its shares. Instructions would be...
25Mar2010 | vitalstocks | 0 comments | Continued(BAC) Initial Claims for Unemployment Insurance fell by 14,000
Initial Claims for Unemployment Insurance fell by 14,000 in the last week to 442,000. That brought the four-week moving average (generally a better measure due to the volatility in the weekly numbers) down by 11,000 to 453,750. Initial jobless claims peaked just around a year...
25Mar2010 | vitalstocks | 0 comments | Continued(SNDK) SanDisk Selected to Provide Solid State Drives
Leading flash memory producer and hard disk manufacturing company SanDisk Corporation (SNDK), has declared that a leading Chinese manufacturer of portable computers, e-book readers and other consumer electronics products named Malata; Wanlida Group Co. Ltd, has selected SanDisk’s...
25Mar2010 | vitalstocks | 0 comments | Continued(ACI) Arch Coal Invests $3 Billion in ADA-ES Incorporated
Arch Coal Inc. (ACI) has announced plans to invest $3 billion in ADA-ES Inc. (ADES) to fund near-term growth opportunities. As the first step, Arch purchased 143,885 shares of ADA for $1.0 million. The remaining $2.0 million of Arch’s investment is a consideration for an exclusive...
25Mar2010 | vitalstocks | 0 comments | Continued(NCR) NCR Corporation Appoints New CFO
Leading technology company NCR Corp. (NCR) recently appointed 46 year old Robert Fishman as its Chief Financial Officer, who will be reporting to the Chairman and Chief Executive Officer of NCR, Bill Nuti. The company has selected Mr. Fishman, after an extensive search of internal...
25Mar2010 | vitalstocks | 0 comments | Continued(DE) Deere & Company Earnings Report Scorecard
Earnings Release A month back, Deere & Company (DE) reported results for the first quarter of fiscal 2010. Earnings were $243.2 million or 57 cents per share, up from $203.9 million or 48 cents in the year-ago period. Reported EPS was much above the Zacks Consensus Estimate...
25Mar2010 | vitalstocks | 0 comments | Continued(OSG) Overseas Shipholding Group Offers Senior Notes
Moving ahead with its debt restructuring strategies on Monday, Overseas Shipholding Group Inc. (OSG) announced the issue of $300 million aggregate principal amount of senior notes, due 2018, taking the public offering route. For this, the company has appointed Citigroup Global...
25Mar2010 | vitalstocks | 0 comments | Continued(RDSA) Shell and PetroChina to Acquire Arrow Energy
Australian natural gas producer Arrow Energy Ltd. announced that it has accepted a new, improved joint takeover bid from energy majors Royal Dutch Shell Plc. (RDSA) and PetroChina Co. Ltd. (PTR). The offer now requires approval from Arrow shareholders and the Australian regulators. The...
25Mar2010 | vitalstocks | 0 comments | Continued(SNDK) SanDisk Corporation – Bull of the Day
SanDisk (SNDK) has a strong product portfolio and is a significant player in the U.S. flash memory market. The company posted very encouraging fourth quarter 2009 results, exceeding the management guidance. SanDisk witnessed major gains in the OEM business and higher product...
25Mar2010 | vitalstocks | 0 comments | Continued(SGK) Schawk Incorporated – Earnings Estimates Spike
Schawk Inc. (SGK) just beat expectations and shares are soaring yet, thanks to rapidly rising estimates, remain a great value with plenty of growth. Company Description Schawk, Inc. provides brand management services. The company serves the consumer products, retail, pharmaceutical...
25Mar2010 | vitalstocks | 0 comments | Continued(AXS) AXIS Capital Holdings Prices Senior Notes
AXIS Capital Holdings Ltd. (AXS) has priced a $500 million offering of senior notes last Thursday. The 5.875% senior notes are due 2020. The notes were offered by its indirect, wholly owned subsidiary, AXIS Specialty Finance LLC. The company intends to use the proceeds for general...
25Mar2010 | vitalstocks | 0 comments | Continued(CNX) CONSOL Energy Buys CNX Gas Corporation Stakes
Coal and natural gas company, CONSOL Energy Inc. (CNX), has entered into an agreement to buy 9.5 million shares of CNX Gas Corporation (CXG) from stockholders represented by T. Rowe Price Associates (TROW). CONSOL Energy currently owns 83.3% of CNX Gas’ 151 million outstanding...
25Mar2010 | vitalstocks | 0 comments | Continued(ABT) Abbott Labs Completes Starlims Buyout
Abbott Labs (ABT) recently completed the acquisition of Starlims Technologies Ltd. for $123 million. Starlims is a leading provider of laboratory information management systems. It improves the reliability of laboratory sampling processes, supports compliance with domestic and...
25Mar2010 | vitalstocks | 0 comments | Continued(TSS) Total System Services – Bear of the Day
We are initiating coverage on Total System Services (TSS) with an Underperform recommendation. The company’s fourth quarter earnings came in a penny ahead of the Zacks Consensus Estimate. However, results posed weak top-line growth due to sluggish performance in the electronic...
25Mar2010 | vitalstocks | 0 comments | Continued(ALC) Assisted Living Concepts – Current-Year Estimate Up
Assisted Living Concepts, Inc. (ALC) recently hit a new 52-week high as the company continues to strategically shift away from Medicaid to private payers that offer higher margins. Analysts are bullish on the company, projecting 15% earnings growth in the next-year period. Company...
25Mar2010 | vitalstocks | 0 comments | Continued(VLO) Oil & Gas Industry Stock Review – March 2010 – Industry Outlook
OUTLOOK Crude Oil The improving economic scene, both here in the U.S. as well as worldwide, is the main driver of the current oil rally that has seen the commodity breaching the $80 per barrel level. But high levels of product inventories (gasoline and distillate stocks remain...
25Mar2010 | vitalstocks | 0 comments | Continued(SLB) Schlumberger Limited May Lag Street Estimates
Schlumberger Limited (SLB) may face trouble meeting this year’s Wall Street profit forecast, the company’s chief executive officer (CEO) said yesterday. He also said that rising natural gas drilling in North America will not lead to “satisfactory returns” this...
25Mar2010 | vitalstocks | 0 comments | Continued(COGO) Cogo Group Announces PTN Design Win
Cogo Group Inc. (COGO) has bagged embedded solution design wins within the deployment of China Mobile’s new Packet Transmission Network (“PTN”). Cogo already has PTN solution design wins with several leading domestic telecom equipment manufacturers. PTN is China...
25Mar2010 | vitalstocks | 0 comments | Continued(BRE) BRE Properties Incorporated – Bear of the Day
Our long-term recommendation for BRE Properties (BRE) is Underperform as we anticipate it to perform well below the broader market. We expect continued volatility in the multifamily sector with increasing job cuts and decline in the market fundamentals. BRE Properties also has...
25Mar2010 | vitalstocks | 0 comments | Continued(REG) Regency Centers Corporation Buys South Charlotte Asset
Regency Centers Corporation (REG), a leading operator and developer of grocery-anchored and community shopping centers across the U.S., recently purchased Providence Commons Shopping Center, a 191,301 square feet retail center in south Charlotte, for an undisclosed amount. Providence...
25Mar2010 | vitalstocks | 0 comments | Continued(MOT) Motorola Unveils Smart Android-based Walkie-talkie
Motorola Inc. (MOT) has introduced the world’s first walkie-talkie device based on Google Inc’s (GOOG) Android operating system. Named as “Motorola i1″, this handset will also be the world’s first push-to-talk Android-powered smartphone for the Integrated Digital...
25Mar2010 | vitalstocks | 0 comments | Continued(LUV) Southwest Airlines Reports Higher Lobbying Costs
In the fourth quarter of 2009, Southwest Airlines Co. (LUV) spent $180,000 to lobby, higher than the $40,000 spent in the fourth quarter 2008. Its lobbying expenditure for 2009 was $690,000. The airline is lobbying on issues relating to the use of personal wireless devices and...
25Mar2010 | vitalstocks | 0 comments | Continued(GPS) Gap Incorporated – Bull of the Day
We maintain our Outperform recommendation on Gap, Inc. (GPS) as we anticipate it to perform well above the market. Gap is the leading player in the highly fragmented specialty retail sector, and has a market cap which is more than double its nearest competitor. The company has...
25Mar2010 | vitalstocks | 0 comments | Continued(AXS) AXIS Capital Holdings Prices Senior Notes
AXIS Capital Holdings Ltd. (AXS) has priced a $500 million offering of senior notes last Thursday. The 5.875% senior notes are due 2020. The notes were offered by its indirect, wholly owned subsidiary, AXIS Specialty Finance LLC. The company intends to use the proceeds for general...
25Mar2010 | vitalstocks | 0 comments | Continued($C) U.S. Treasury’s Pay Czar Limits Pay at Five TARP Firms
U.S. Treasury’s pay czar Kenneth Feinberg said on Tuesday that the top 25 executives at five firms that received extraordinary government support under the Troubled Asset Relief Program (TARP) will get about 15% lower compensation in 2010 compared to 2009. The cash salaries...
25Mar2010 | vitalstocks | 0 comments | Continued(JPM) Aon to Buy JPMorgan Unit
On Mar 19, Aon Consulting, the global benefits and human capital consulting business of Aon Corp. (AON), announced that it has entered into a definitive agreement with JPMorgan Chase & Co.’s (JPM) JPMorgan Retirement Plan Services, LLC, to acquire one of its division, JPMorgan...
25Mar2010 | vitalstocks | 0 comments | Continued