Archive for March, 2010
(MCHP) Microchip Technology Incorporated Increases Earnings Guidance
Microchip Technology Incorporated (MCHP) has revised its guidance for the fourth quarter of fiscal 2010. The company now expects sales to be up 8% sequentially compared to the previous guidance of 3% – 7%. The revised guidance implies a revenue guidance of $270.1 million. The...
18Mar2010 | vitalstocks | 0 comments | Continued(BMY) Bristol-Myers Squibb and AstraZeneca Earn FDA Acceptance of Application
Recently, Bristol-Myers Squibb Company (BMY) and AstraZeneca Plc (AZN) announced that the U.S. Food and Drug Administration (FDA) has accepted their application for reviewing the combination of a fixed dose of Onglyza (saxagliptin) and metformin for treating patients suffering...
18Mar2010 | vitalstocks | 0 comments | Continued(KG) King Pharmaceuticals and Acura Pharmaceuticals Learn FDA to Review Acurox
King Pharmaceuticals, Inc. (KG) and Acura Pharmaceuticals, Inc. (ACUR) recently announced that the FDA has established a date for an advisory committee meeting which will discuss the new drug application for Acurox. The committee will also discuss the results of studies evaluating...
18Mar2010 | vitalstocks | 0 comments | Continued(NDAQ) Nasdaq OMX Incorporated Acquires Nord Pool ASA
In an attempt to strengthen its power and carbon derivatives offering, on Wednesday, Nasdaq OMX Inc. (NDAQ) announced the acquisition of Nordic power bourse, Nord Pool ASA. Although the terms and value of the deal remains undisclosed, the transaction awaits regulatory approvals. In...
18Mar2010 | vitalstocks | 0 comments | Continued(COMS) 3Com Corporation Grabs Multi-Million Dollar Deal
Things are going well for the global enterprise networking major 3Com Corporation (COMS). The company recently disclosed that it has grabbed a three-year, multi-million dollar deal with the Department of Education and Training (DET) in Northern Australia. As per the terms of...
18Mar2010 | vitalstocks | 0 comments | Continued(PBR) U.S. Consumer Price Index Remains Tame
We got more evidence today that inflation is not a serious concern. The Consumer Price Index (CPI) was unchanged in February after five straight months when it had increased by only 0.2% per month. Overall consumer prices are just 2.1% higher than a year ago. If food and energy...
18Mar2010 | vitalstocks | 0 comments | Continued(STJ) St. Jude Medical Analyst Maintains Neutral Rating
We maintain our Neutral recommendation for St. Jude Medical, Inc. (STJ) with a target price of $41 based on a P/E of 14.9x our fiscal 2010 EPS estimate of $2.75. The earnings estimate revisions for this Zacks Rank #3 stock have been mixed in the past 30 days. During the past...
18Mar2010 | vitalstocks | 0 comments | Continued(CHL) China Mobile Earnings Report Beats Forecast
The world’s largest wireless carrier by users, China Mobile (CHL), announced full-year 2009 results with earnings per ADS of US$4.16 beating the Zacks Consensus Estimate of US$3.98. Net income increased 2.3% year-over-year to RMB115.2 billion (US$17 billion). The Chinese wireless...
18Mar2010 | vitalstocks | 0 comments | Continued(MDCO) The Medicines Company Wins Favorable Court Order
The Medicines Company (MDCO) received a much needed breather recently in the form of a favorable order issued by the U.S. District Court for the Eastern District of Virginia in the company’s lawsuit against the U.S. Patent and Trademark Office (PTO), the U.S. Food and Drug...
18Mar2010 | vitalstocks | 0 comments | Continued(KFT) Kraft Foods Announces Sodium Reduction by 2012
Kraft Foods Inc. (KFT) announced plans to reduce sodium by an average of 10% across its products primarily in North America over the next two years. Management stated that a number of U.S. consumers are concerned about their sodium intake and this move by Kraft should help them...
18Mar2010 | vitalstocks | 0 comments | Continued(C) Citigroup Subsidiary Files For $252 Million IPO
In an effort to shed its non-core operations, Citigroup Inc.’s (C) wholly-owned subsidiary and life-insurance unit, Primerica Inc., has filed for an initial public offering (IPO) of 18 million shares. The offering, which is expected to be priced in the range of $12 to $14 per...
18Mar2010 | vitalstocks | 0 comments | Continued(F) Ford Motor Shares Hit Five-Year High
Shares of Ford Motor Co. (F) surged to $14.15 in afternoon trading yesterday for the first time in 5 years. The stock price rose 4.9% since January 2005 before it closed at $14.10 Wednesday. The 5-year high was primarily driven by Moody’s Investors Service’s (MCO) upward...
18Mar2010 | vitalstocks | 0 comments | Continued(MMC) Marsh & McLennan Companies Unit Acquires Thomas Rutherfoord
In an attempt to grow its insurance business nationally, Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh & McLennan Companies Inc. (MMC) announced the acquisition of Thomas Rutherfoord, Inc., one of the highly-regarded brokerage firms in the...
18Mar2010 | vitalstocks | 0 comments | Continued(CBEH) China Integrated Energy – Bullish about 2010
China Integrated Energy, Inc. (CBEH) recently reported record results for the fourth quarter as oil product demand stayed strong in China. CBEH is cheap, with a forward P/E of just 8.9. Company Description China Integrated Energy distributes gasoline, petro-diesel and other petroleum...
18Mar2010 | vitalstocks | 0 comments | Continued(BAX) Baxter International Posts Flu Vaccine Trial Results
Recently, Baxter International Inc. (BAX) announced data from a late-stage study for its flu vaccine candidate Preflucel. The candidate provided a 71% protection rate against all strains of the flu. Furthermore, the study revealed that the influenza vaccine resulted in a 78%...
18Mar2010 | vitalstocks | 0 comments | Continued(LTD) Limited Brands Manages Free Cash Flow Well
Limited Brands Inc. (LTD), a specialty retailer of women’s intimate and other apparel, beauty and personal care products, is actively managing its capital and returning much of its free cash to shareholders via share repurchases and dividends. The company’s Board recently...
18Mar2010 | vitalstocks | 0 comments | Continued(SMTC) Semtech Beats Fourth Quarter Expectations – Guides Up
Semtech Corp.‘s (SMTC) fourth-quarter earnings beat the Zacks Consensus Estimate by 3 cents. Shares were up in response. The company’s closest competitors, Maxim Integrated Products (MXIM), Linear Technology Corp. (LLTC) and Intersil Corp. (ISIL) also beat the Zacks...
18Mar2010 | vitalstocks | 0 comments | Continued(CIEN) Ciena Analysts Maintain Neutral Ratings After Revisions
Following the release of Ciena Corporation’s (CIEN) first quarter fiscal 2010 results on March 4, 2010, analysts have made both positive and negative revisions to their estimates. Linthicum, Maryland-based CIENA is an original equipment manufacturer (OEM) of optical networking...
18Mar2010 | vitalstocks | 0 comments | Continued(TROW) T. Rowe Price Group to Buy a Stake in China’s Largest Fund Management Firm
Investment firm T. Rowe Price Group Inc. (TROW) is in advanced talks to buy a stake in Asset Management Co. (“China AMC”) from its holding company Citic Securities. Citic Securities, which is aggressively seeking licenses for margin trading and short selling, has orders...
18Mar2010 | vitalstocks | 0 comments | Continued(QCOM) Qualcomm Looks to Bid on Wireless Spectrum in India
Qualcomm Inc. (QCOM), the largest mobile chipset developer of the world for CDMA technology, is planning to bid for upcoming broadband wireless access (BWA) spectrum in India. The auction is likely to take place in 2011. Ministry of Telecommunication of the Indian Government...
18Mar2010 | vitalstocks | 0 comments | Continued(TRW) TRW Automotive Holdings Auto Gets Rating Upgrades
Standard & Poor’s Ratings Services has upgraded its corporate credit rating on TRW Automotive Holdings Corp. (TRW) to “B+” from “B,” still four notches below investment grade. The upgrade was based on the company’s stronger performance in 2009. Last...
18Mar2010 | vitalstocks | 0 comments | Continued(RNR) RenaissanceRe Holdings Gets Positive Ratings Comments From A.M. Best
On Tuesday, rating action taken by rating agency A.M. Best Co. on RenRe North America Holdings Inc.’s recently issued $250 million fixed rate 5.75% senior unsecured notes due 2020 looks positive for the issuer. The notes are fully and unconditionally guaranteed by RenaissanceRe...
18Mar2010 | vitalstocks | 0 comments | Continued(ADY) American Dairy Posts Sluggish Fourth Quarter Earnings
American Dairy Inc. (ADY) swung to a fourth-quarter net loss of $27.0 million, or $1.34 per share, from a net profit of $25.1 million, or $1.42 per share in the year-ago quarter. Excluding special items, adjusted loss per share came in at $1.29, which was way behind the Zacks...
18Mar2010 | vitalstocks | 0 comments | Continued(VSH) Vishay Intertechnology – Earnings Beat by Over 41%
Vishay Intertechnology, Inc. (VSH) analysts are expecting exponential growth this year, yet shares remain a great value. Company Description Vishay Intertechnology makes discrete semiconductors and other electronic components. The company’s products are used in many industries...
18Mar2010 | vitalstocks | 0 comments | Continued(MDR) McDermott International Unit Wins Vietnam Subsea Infrastructure Contract
J. Ray McDermott S.A. – a subsidiary of energy-focused engineering and construction firm McDermott International Inc. (MDR) – announced the receipt of a subsea infrastructure contract from Vietnam-based PetroVietnam Technical Services Corp. The financial terms of the transaction...
18Mar2010 | vitalstocks | 0 comments | Continued(NS) NuStar Energy L.P. Analyst Downgrades to Underperform
We are downgrading NuStar Energy L.P. (NS) units to Underperform from Neutral, reflecting the challenging business environment for pipeline operators. The current economic downturn and the resulting commodity-price weakness, coupled with reduced access to the credit markets,...
18Mar2010 | vitalstocks | 0 comments | Continued(AOB) American Oriental Bioengineering Marginally Beats Earnings Expectations
American Oriental Bioengineering’s (AOB) fourth-quarter earnings per share (EPS) came in at 14 cents surpassing the Zacks Consensus Estimate of 12 cents and 10 cents reported in the year-ago period. For 2009, the company reported EPS of 53 cents, compared to last year’s 61...
18Mar2010 | vitalstocks | 0 comments | Continued(DPL) DPL Energy Resources Building Solar Facility
DPL Inc.’s (DPL) unregulated subsidiary, DPL Energy Resources, will build a 60 kilowatt (kW) solar array at the Mound Advanced Technology Center in Miamisburg, a former Department of Energy Weapons site. Along with the company’s other solar installation on Yankee road, this...
18Mar2010 | vitalstocks | 0 comments | Continued(OGE) OGE Energy Corporation Focuses on Smart Meters
OGE Energy Corporation (OGE) filed an application with the Oklahoma Corporation Commission seeking approval to install smart meters across its Oklahoma service area. If approved, the proposal would increase the average customer’s electric bill by about $2 per month for...
18Mar2010 | vitalstocks | 0 comments | Continued(FNM) Federal Reserve Stays On Hold With Interest Rates – In-Depth
As expected, the Federal Reserve left the federal funds rate unchanged at its meeting today. Below, we present statements from the current meeting along with statements from the late January meeting, with my commentary and interpretation (translation?) interspersed on a paragraph...
18Mar2010 | vitalstocks | 0 comments | Continued