Archive for March, 2010
(AIR) AAR Earnings Report Shows Profit Down by Half
AAR Corp. (AIR) reported discouraging results for the third quarter of fiscal 2010. During the quarter, sales were $309.6 million, down from $338.8 million in the third quarter of fiscal 2009. Net income was $9.9 million or 26 cents, down to almost half of $17.2 million or 43...
18Mar2010 | vitalstocks | 0 comments | Continued(MDR) McDermott International Subsidiary to Buy General Electric Unit
Babcock & Wilcox Power Generation Group – a subsidiary of energy-focused engineering and construction firm McDermott International Inc. (MDR) – announced the purchase of an air and emissions unit from GE Energy, a division of General Electric Co. (GE). No details were...
18Mar2010 | vitalstocks | 0 comments | Continued(FTR) Frontier Communications Hails FCC Broadband Plan
Leading rural telecom carrier Frontier Communications (FTR) has applauded the Federal Communications Commission’s (FCC) National Broadband Plan (NBP), which the agency submitted to the Congress on March 16, 2010. In its statement, the carrier appreciated FCC’s initiatives...
18Mar2010 | vitalstocks | 0 comments | Continued(DAI) Daimler AG to Join France’s Renault-Nissan
Germany’s Daimler AG (DAI) has entered into discussions with France’s Renault SA to acquire mutual equity stakes that would add the former to the alliance, which already includes Japan’s Nissan Motor Co. The stakes to be acquired are likely to amount to less than 10%. In...
18Mar2010 | vitalstocks | 0 comments | Continued(TQNT) TriQuint Semiconductor Earnings Scorecard
TriQuint Semiconductor Inc. (TQNT) recently reported fourth quarter 2009 net income per share of 14 cents, beating the Zacks Consensus Estimate of 11 cents and management’s revised expectation of 12 – 13 cents. TriQuint is an original equipment manufacturer of semiconductor...
18Mar2010 | vitalstocks | 0 comments | Continued(WU) Western Union Refinances Debt
Money transfer company Western Union Inc. (WU) yesterday announced that it has started exchanging its outstanding 5.4% notes aggregating $500 million in principal due 2011 with a new issue of notes. The new notes will carry an interest rate of 135 basis points over and above...
18Mar2010 | vitalstocks | 0 comments | Continued(SU) Suncor Analyst Downgrades to Underperform
We are downgrading Suncor Energy (SU) shares to Underperform from Neutral, reflecting its weak near- to medium-term production outlook and the Petro-Canada acquisition-related risks. Recently, the company informed that a fire at its largest oil sands project in Alberta would...
18Mar2010 | vitalstocks | 0 comments | Continued(CIT) CIT Group Posts Earnings Loss on Higher Costs
On Tuesday, CIT Group Inc. (CIT) reported a net income of $3.2 billion Incorporatedluding the reorganization benefit under the post-bankruptcy accounting known as Fresh Start Accounting (FSA). Excluding special accounting procedures and other items related to its reorganization,...
18Mar2010 | vitalstocks | 0 comments | Continued(RF) Regions Financial Has Debt Rating Lowered by Standard and Poor’s
In yet another sign of dwindling confidence about the company’s performance, Standard and Poor’s (S&P) on Friday lowered the ratings of Regions Financial Corp. (RF) to “BBB-” from “BBB.” Regions, a regional bank, has a high percentage of commercial mortgage...
18Mar2010 | vitalstocks | 0 comments | Continued(FDS) Factset Research’s Revenue Grows – Earnings Beat Expectations
FactSet Research (FDS) reported EPS for the quarter of 75 cents, exceeding the Zacks Consensus Estimate of 74 cents. The company reported revenue for the second quarter of $157.3 million, up 0.5% from $156.5 million reported in the year-ago quarter. The company is witnessing...
18Mar2010 | vitalstocks | 0 comments | Continued(PEP) PepsiCo Board of Directors Raises Dividend
The Board of Directors of PepsiCo (PEP) raised the annual dividend by 7% to $1.92 per share from $1.82 earlier. This is the 38th consecutive annual increase in dividend. The dividend is expected to be payable on June 30, 2010 to shareholders on record as of June 4, 2010. The...
18Mar2010 | vitalstocks | 0 comments | Continued(FISV) Fiserv Reports In-Line Fourth Quarter Earnings – Announces Share Repurchase
Fiserv, Inc. (FISV) announced that its Board has authorized it to repurchase up to five million additional shares of its common stock — approximately 3% percent of its outstanding shares. As of March 1, 2010, the company had approximately one million shares remaining in...
18Mar2010 | vitalstocks | 0 comments | Continued(IM) Ingram Micro Incorporated – Another Earnings Surprise
Ingram Micro Inc (IM) just reported another earnings surprise and analysts are raising their forecasts. Company Description Ingram Micro provides marketing, logistic, technical and other services for its customers. The company serves technology vendors and resellers across the...
18Mar2010 | vitalstocks | 0 comments | Continued(FLS) Flowserve Corporation Wins $15 Million Order
Flowserve Corp. (FLS) received an order worth more than $15 million from State Nuclear Power Engineering Company Ltd. (SNPEC) in China for ASME Section III safety-related globe and gate valves and Flowserve Limitorque actuators. Flowserve said it will book the order in the first...
18Mar2010 | vitalstocks | 0 comments | Continued(DLM) Del Monte Foods Company – Earnings Surprise Streak Continued
Del Monte Foods Company (DLM) extended its tremendous earnings surprise track record recently, when it beat for the 9th consecutive time. Company Description Del Monte Foods distributes food and pet products in the United States and South America. It owns many well-known brands...
18Mar2010 | vitalstocks | 0 comments | Continued(UBS) UBS AG Pays Executives $51.8 Million
Bailed out Swiss bank UBS AG (UBS), which suffered a loss for a third consecutive year, has paid out $51.8 million in compensation to executive board members for 2009. After repaying the $5.6 billion funds it received in 2008, the bank is now free to set its own compensation...
18Mar2010 | vitalstocks | 0 comments | Continued($V) Visa Analyst Initiates Stock Coverage at Neutral
Recently, we have initiated coverage on Visa Inc. (V) with a Neutral recommendation. The company’s fiscal first quarter 2010 earnings of 99 cents per share were substantially ahead of the Zacks Consensus Estimate of 91 cents due to better pricing, an increased number of processed...
18Mar2010 | vitalstocks | 0 comments | Continued(DHI) National Association Of Homebuilder’s Index Drops
The National Association Of Homebuilders sentiment index fell to 15 in March from 17 in February. While the index is well off its record low of 8 set back in January 2009, it remains very depressed. The index is set up so any reading below 50 indicates contraction, and the current...
18Mar2010 | vitalstocks | 0 comments | Continued(X) United States Steel Corporation Issues Debt – Maintains BB+ Rating
Ratings agency Fitch Ratings has assigned a “BB+” rating to United States Steel Corporation’s (X) $500 million debt issued recently, reports AP. According to Fitch, “BB+” rated debt is non-investment grade or junk bond and is more vulnerable to changes in...
18Mar2010 | vitalstocks | 0 comments | Continued(IART) Integra LifeSciences Holdings Launches New Product
Integra LifeSciences Holdings Corp. (IART) recently launched a new product in the U.S., Integra Total Wrist Fusion System, a solution for wrist arthrodesis that is designed to provide fixation of the wrist while decreasing soft tissue irritation. The product uses the Surfix locking...
18Mar2010 | vitalstocks | 0 comments | Continued(NUE) Nucor Provides Guidance – Analyst Raises Estimates
Nucor Corporation (NUE) provided its first quarter 2010 earnings update, indicating it expected earnings per share to be in the range of a loss of 5 cents to earnings of 5 cents per share. The Zacks Consensus Estimate is pegged at net earnings of 2 cents in the first quarter....
18Mar2010 | vitalstocks | 0 comments | Continued(HAL) Halliburton Analyst Retains Neutral Rating
Halliburton (HAL) enjoys a strong competitive position in the global oilfield services market. We like the company’s broad and technologically complex product and service offerings, along with its robust financial profile. Halliburton is among the top three players in each...
18Mar2010 | vitalstocks | 0 comments | Continued(VOD) Telecom Stock Review – March 2010 – Industry Outlook
The global economic downturn continues to weigh on companies in almost every industry Incorporatedluding telecommunications. Nevertheless, we see a silver lining for the telecommunication industry in this challenging environment as the valuation level now reflects remedial conditions...
18Mar2010 | vitalstocks | 0 comments | Continued(CSC) Computer Science Corporation Wins Mega Deal
Leading information technology (IT) company Computer Science Corporation (CSC) has won another major contract. The IT major recently disclosed that it is one among the two chosen companies to be awarded the Visa Services indefinite-delivery/indefinite-quantity (IDIQ) contract...
18Mar2010 | vitalstocks | 0 comments | Continued(ERTS) Electronic Arts Analyst Upgrades Stock to Neutral
We are upgrading Electronic Arts Inc. (ERTS) to Neutral from our previous Underperform rating, as we believe the stock has bottomed out. We do not expect further fall in share price and believe that the new Sony Corp’s (SNE) ‘Playstation Move’, if released in 2010 may drive...
18Mar2010 | vitalstocks | 0 comments | Continued(VIAB) Viacom’s MTV Signs Deal with Rentrak
MTV Networks, a division of Viacom Inc. (VIAB) signed a deal with Rentrak Corp. (RENT) to subscribe to the latter’s TV Essential services. Rentrak is a multi-screen media measurement and research company. TV Essential services are used by media companies for audience targeting,...
18Mar2010 | vitalstocks | 0 comments | Continued(SPLS) Staples Offers Buyout of Remaining Stake in Australian Company
Staples, Inc. (SPLS), the world’s leading retailer of office products and services, recently offered to buy out the remaining stake in Corporate Express Australia Limited. Staples already holds a majority stake of 58.6% in Corporate Express Australia by virtue of its acquisition...
18Mar2010 | vitalstocks | 0 comments | Continued(LINC) Lincoln Educational Services Corporation – Revenue For The Quarter Was Up 47% From Last Year
Lincoln Educational Services Corp. (LINC) recently surged higher to hit a new 52-week high on the company’s better than expected Q4 results from early March. Company Description Lincoln Educational Services Corp. provides career oriented, post-secondary education services...
18Mar2010 | vitalstocks | 0 comments | Continued(ISRG) Intuitive Surgical Analyst Upgrades to Outperform
We recently upgraded Intuitive Surgical, Inc. (ISRG) to ‘Outperform’ as a result of its strong fourth quarter and fiscal 2009 results. The stock was assigned a target price of $400 based on a P/E of 52.0x our fiscal 2010 EPS estimate of $7.69. Intuitive reported fourth quarter...
18Mar2010 | vitalstocks | 0 comments | Continued($COP) ConocoPhillips May Reduce Lukoil Stake
ConocoPhillips (COP) may reduce its Lukoil stake by 50% within three years. Conoco has a 20% interest in Lukoil, a privately owned Russian oil and gas company, and intends to sell 10% of it, according to a reuters.com report. The report also said that Conoco may announce this...
18Mar2010 | vitalstocks | 0 comments | Continued