Archive for March, 2010
($NKE) Nike’s Earnings Report Beats Consensus Estimates
Nike Inc. (NKE) reported strong fiscal 2010 third quarter results with a net income of $496 million or $1.01 per share compared to $244 million or $0.50 in the year-earlier quarter. The earnings also surpassed the Zacks Consensus Estimate of $0.89. Despite a challenging macroeconomic...
18Mar2010 | vitalstocks | 0 comments | Continued(STO) Statoil ASA Wades Further into US Gulf of Mexico
Norwegian oil major Statoil ASA (STO) yesterday said that the company was the highest bidder on 21 tracts released in Minerals Management Service’s (MMS) US Gulf of Mexico (GoM) central area lease sale. Statoil’s winning bid is, however, subject to review and final...
18Mar2010 | vitalstocks | 0 comments | Continued(BFB) Brown-Forman – ROE of 25.2% Bests Industry Average
Brown-Forman (BFB) has current dividend yield of 2.2% and analysts expect the company to deliver long-term EPS growth of 10.1%. This Zacks Rank #2 stock trades at about 17x fiscal 2011 EPS estimates. Company Description Brown-Forman Corp. is one of the leading producers and distributors...
18Mar2010 | vitalstocks | 0 comments | Continued(ATPG) ATP Oil & Gas Posts Wider Loss
Energy explorer ATP Oil & Gas Corp. (ATPG) reported weak fourth quarter results, pulled down by higher lease operating costs, higher general and administrative expenses, as well as delays related to a well re-completion. Loss per share, excluding one-time items, came in at...
18Mar2010 | vitalstocks | 0 comments | Continued(WMT) U.S. Initial Jobless Claims Down Again
Initial Claims for Unemployment Insurance fell by 5,000 over the last week to 457,000, and are far below the year-ago level of 644,000. Weekly claims can be very volatile, so to get a better sense of the overall trend, the four-week moving average is generally considered a better...
18Mar2010 | vitalstocks | 0 comments | Continued(WLP) WellPoint Provides 2010 Financial Outlook
Recently, WellPoint Inc. (WLP) provided its financial outlook for fiscal 2010. The health insurer expects operating revenue of approximately $59.0 billion in fiscal 2010 as against $60.8 billion reported in 2009, down approximately 3%. The decline is primarily attributable to...
18Mar2010 | vitalstocks | 0 comments | Continued(CMA) Regional Bank Comerica Repays TARP Fund
Regional bank Comerica Inc. (CMA) said on Wednesday that it has repaid the entire $2.25 billion of bailout money it received from the government for its participation in the Troubled Asset Relief Program (TARP) at the height of the credit crisis. In addition to the principal...
18Mar2010 | vitalstocks | 0 comments | Continued(VOD) India’s 3G Wireless Bidding Kicks off
After prolonged drama and nagging delays, India has finally kick-started the 3G spectrum (radio airwave) auction process. The bidding for the long-awaited 3G WCDMA spectrum and WiMax (broadband wireless access) auction has officially commenced and the government has started inviting...
18Mar2010 | vitalstocks | 0 comments | Continued(EMC) EMC Analyst Upgrades Coverage to Neutral
EMC Corp. (EMC) has the potential to benefit from restructuring activities, with financial metrics growing stronger and helping the company to reach its long-term targeted return levels. Therefore, we upgrade the stock to Neutral from our previous Underperform recommendation...
18Mar2010 | vitalstocks | 0 comments | Continued($AIG) American International Group Holds Back $21 Million in Bonuses
American International Group Inc. (AIG) will hold back $21 million in retention bonuses to its former employees, according to a Wall Street Journal report. The company, which will pay out $46 million today in retention bonuses to about 70 employees, both former and current, has...
17Mar2010 | vitalstocks | 0 comments | Continued(PVH) Phillips-Van Heusen – Earnings Estimates Headed Higher
Phillips Van Heusen’s (PVH) estimates were inching higher even before the company announced it was going to acquire Tommy Hilfiger. Company Description Phillips-Van Heusen Corp. is a global designer and marketer of branded dress shirts, sportswear footwear, and other similar...
17Mar2010 | vitalstocks | 0 comments | Continued(PAY) VeriFone Holdings Earnings Scorecard
Following the release of better-than-expected first quarter results and an increase in guidance by VeriFone Holdings Inc. (PAY), we recently upgraded our rating on the stock to Outperform from Neutral. Based in San Jose, California, VeriFone designs, markets and services a transaction...
17Mar2010 | vitalstocks | 0 comments | Continued(PAY) VeriFone Holdings Incorporated – Bull of the Day
Over the past few quarters, VeriFone (PAY) experienced lower-than-expected revenue levels and a softer demand globally due to weak markets and adverse economic conditions. However, results for the fiscal first quarter were ahead of expectations. EPS came in at $0.26, easily beating...
17Mar2010 | vitalstocks | 0 comments | Continued(HPQ) Hewlett-Packard Faces Chinese Lawsuit
Renowned computer maker Hewlett-Packard Co. (HPQ) is currently facing consumer complaints from numerous Chinese consumers. Around 170 Chinese consumers have jointly appealed to the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), a Chinese agency,...
17Mar2010 | vitalstocks | 0 comments | Continued(MYL) Mylan Strengthens Drug Portfolio
Mylan Inc. (MYL) has entered into an agreement with Takeda Pharmaceutical for two type II diabetes drugs – Actoplus Met and Actos, which recorded 2009 sales of $459 million and $3.4 billion, respectively. Following the agreement, Mylan will be able to launch the generic versions...
17Mar2010 | vitalstocks | 0 comments | Continued(COST) Costco Wholesale Corporation Earnings Scorecard
Costco Wholesale Corporation (COST), one of the leading U.S. warehouse club operators, reported fiscal second-quarter 2010 earnings that missed the Zacks Consensus Estimate by a penny, though they were up significantly from the prior-year quarter. Total revenue climbed 11.3%...
17Mar2010 | vitalstocks | 0 comments | Continued(BBY) Best Buy Analysts Downgrade the Stock
We recently downgraded our rating on Best Buy Company Inc. (BBY) to Neutral from Outperform with a target price of $41.00. Consumers, grappling with the recent downturn and lower disposable income, are now prioritizing their purchases. Best Buy sells products that are more discretionary...
17Mar2010 | vitalstocks | 0 comments | Continued(E) Eni SpA Analysts Downgrade The Stock
We are downgrading Eni SpA (E) ADRs to Underperform from Neutral. Our primary concerns for the company are the lack of a clear dividend policy, a declining dividend yield trend, cyclical low returns, threat of rising competition to its core gas business and the quality of its...
17Mar2010 | vitalstocks | 0 comments | Continued(SU) Suncor Energy Incorporated – Bear of the Day
We are downgrading Suncor Energy (SU) shares to Underperform from Neutral, reflecting its weak near- to medium-term production outlook and the Petro-Canada acquisition-related risks. Recently, the company cut its 2010 targeted oil sands output following an upgrader fire in February. After...
17Mar2010 | vitalstocks | 0 comments | Continued(SLE) Sara Lee Corporation – Earnings Estimates Are Up
Sara Lee Corp. (SLE) is pressuring its 52-week high on an improving consumer environment and a compelling valuation, trading with a forward P/E of just 13.5X. Company Description Sara Lee Corp. manufactures and sells a range of branded food products worldwide. The Company was...
17Mar2010 | vitalstocks | 0 comments | Continued(MDT) Medtronic Runs into FDA Trouble in Pacemaker Study
Medtronic Inc. (MDT) has received several complaints from the U.S. Food and Drug Administration (FDA) regarding the company’s study of a new pacemaker that can be used in a Magnetic Resonance Imaging (MRI) machine. The FDA has raised concerns over the small population size...
17Mar2010 | vitalstocks | 0 comments | Continued($GOOG) Verizon Wireless Awaits “Nexus One”
Taiwanese handset giant HTC has reportedly begun shipping Google’s (GOOG) Nexus One (a.k.a “Google phone”) Android phone to US wireless kingpin Verizon (VZ). According to the Chinese newspaper Economic Daily, the carrier is likely to begin offering the device in late...
17Mar2010 | vitalstocks | 0 comments | Continued(TWC) Time Warner Cable Expanding Wideband via DOCSIS 3.0
Time Warner Cable Inc. (TWC), the second largest cable MSO of the U.S. is quickly expanding its wideband coverage using high-speed DOCSIS 3.0 technology leveraging its fiber-optic network. The company recently launched its residential tier wideband Internet in North Texas. Time...
17Mar2010 | vitalstocks | 0 comments | Continued(CMCSA) Masters Golf Tournament to be Major Boost for 3D TV
The latest technology of 3D-capable television sets and 3D-capable computer monitors received a shot in the arm yesterday. The Augusta National Golf Club and Masters Tournament Committee announced that the 2010 Masters tournament will be telecast live on 3D-capable sets. This...
17Mar2010 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell PLC Gears Up to Raise Volumes
At its annual strategy update, energy major Royal Dutch Shell PLC (RDSA) unveiled its business policy. In particular, the company outlined plans to increase production by 11% by 2012 and at the same time cut costs by selling some of its refining and retail assets and reducing...
17Mar2010 | vitalstocks | 0 comments | Continued(PH) Rolls Royce Trent Aircraft Engines Get Parker Hannifin Heat Management Valves
Rolls-Royce Group has opted to add Parker Aerospace’s heat management valves to the pneumatics package it already supplies on the Trent XWB engine program. The Rolls-Royce Trent XWB is the only engine currently available to power the new Airbus A350 family of aircraft. Parker...
17Mar2010 | vitalstocks | 0 comments | Continued(CMI) Cummins Future Projections are Optimistic
At a meeting at the New York Stock Exchange, Cummins Inc. (CMI) has revealed that it expects to top its 2008 sales record of $14 billion during 2012. For 2014, the Indiana-based manufacturer and distributor of diesel and natural gas engines, electric power generation systems...
17Mar2010 | vitalstocks | 0 comments | Continued(STO) Statoil ASA Invests for More Oil
Statoil ASA (STO), a Norwegian state-owned integrated oil and gas company, said that it will invest 20 billion kroner ($3.41 billion) for further development of Norway’s largest gas field, Troll. The development includes more wells and pipelines. The company also said that...
17Mar2010 | vitalstocks | 0 comments | Continued(HIG) Hartford Financial Services Group to Repay TARP Money
In order to repay the entire $3.4 billion of bailout money it received from the government for its participation in the Troubled Asset Relief Program (TARP) at the height of the credit crisis, Hartford Financial Services Group Inc. (HIG) said on Tuesday that it will raise $3.05...
17Mar2010 | vitalstocks | 0 comments | Continued($TM) Toyota Motors Reaches Deal With United Auto Workers
The United Auto Workers union (UAW) has reached a tentative agreement with Toyota Motors (TM) to shut down the New United Motor Manufacturing Inc. (NUMMI) plant in Fremont, California. The agreement, which includes payouts for workers, is subject to a ratification vote by the...
17Mar2010 | vitalstocks | 0 comments | Continued