Archive for March, 2010
(BSX) Boston Scientific Suspends Sales of Defibrillators – Failed to Notify FDA of Changes
Boston Scientific Corporation (BSX) recently suspended sales of its defibrillators after the company failed to alert the U.S. Food and Drug Administration (FDA) regarding changes in the manufacturing process of these devices. The company will retrieve all the affected devices...
17Mar2010 | vitalstocks | 0 comments | Continued(FCX) Producer Price Index Falls More Than Expected
In February, the Producer Price Index (PPI) fell by 0.6%, a far bigger decline than the 0.2% drop expected by the consensus of forecasts. However, all of the decline came from a bigger-than-expected fall in Energy prices. The core index, which strips out the volatile food and...
17Mar2010 | vitalstocks | 0 comments | Continued(ISIS) Isis Pharmaceuticals and Genzyme’s Phase III Drug Data Published
Isis Pharmaceuticals, Inc. (ISIS) and Genzyme Corp. (GENZ) recently announced the publication of phase III data on mipomersen in The Lancet. The data was published from a study that was conducted in patients with homozygous familial hypercholesterolemia (hoFH). Results, which...
17Mar2010 | vitalstocks | 0 comments | Continued(MASI) Masimo Analysts Maintain Neutral Rating
We continue to maintain our ‘Neutral’ rating on Masimo Corp. (MASI) with a target price of $28 based on a P/E of 28.0x our fiscal 2010 EPS estimate of $1. The company’s fourth quarter fiscal 2009 results reflect a mixed trend. Masimo reported fourth-quarter earnings per...
17Mar2010 | vitalstocks | 0 comments | Continued(JEC) Jacobs Engineering Group Inks New Transport Scotland Deal
Jacobs Engineering Group Inc. (JEC) signed a four-year contract with Transport Scotland, the national transport agency of Scotland, to provide engineering consultancy services. Transport Scotland oversees the operation and improvement of the trunk road and railway networks in...
17Mar2010 | vitalstocks | 0 comments | Continued(HOT) Starwood Hotels & Resorts Worldwide Invests $200 Million in Accenture IT
Starwood Hotels & Resorts Worldwide Inc. (HOT) yesterday announced that it has awarded an approximately $200 million contract to IT vendor Accenture (ACN). Under the contract that will span a number of years, Accenture will provide a range of IT services including application...
17Mar2010 | vitalstocks | 0 comments | Continued(MRH) Montpelier Re Holdings Predicts Initial Chile Earthquake Losses
Yesterday, Montpelier Re Holdings Ltd. (MRH) announced its preliminary loss estimates from the 8.8 magnitude earthquake in Chile, European Windstorm Xynthia and the Australian hailstorms. Montpelier expects to incur pre-tax net losses of $75 million to $100 million from the earthquake...
17Mar2010 | vitalstocks | 0 comments | Continued(LLY) Eli Lilly and Company Expands Men’s Health Range
Eli Lilly and Co. (LLY) recently entered into a deal with Australian company, Acrux, which should help strengthen Lilly’s men’s health portfolio. Lilly acquired exclusive worldwide rights to commercialize Axiron, which is currently being reviewed by the US Food and Drug Administration...
17Mar2010 | vitalstocks | 0 comments | Continued(JOYG) U.S. Industrial Production Edges Up
Industrial Production Despite the snow storms in February, the total industrial production of the country managed to edge up by 0.1% over January. This marked the 8th straight increase in the Industrial Production, but it was also the smallest since it started to increase. Prior...
17Mar2010 | vitalstocks | 0 comments | Continued(DHI) U.S. Housing Starts Slow
In February, Housing Starts fell to a seasonally adjusted annual rate of 575,000, a decline of 5.9% from the revised January level and just 0.2% above a year ago. While on first blush the data looks quite negative, there are many caveats. First, while the data is seasonally adjusted,...
16Mar2010 | vitalstocks | 0 comments | Continued(MDVN) Medivation Reports Wider Fourth Quarter Loss
Medivation Inc. (MDVN) reported dismal results in the fourth quarter of 2009 with net loss coming in at 78 cents per share, wider than the Zacks Consensus Estimate of a net loss of 57 cents and the year-ago net loss of 26 cents. Despite full year revenues increasing to $69.3...
16Mar2010 | vitalstocks | 0 comments | Continued(MDT) Medtronic Wins FDA Approval for Epilepsy Therapy
Medtronic, Inc. (MDT) recently received the U.S. Food and Drug Administration (FDA) Neurological Devices Panel’s approval for its Deep Brain Stimulation (DBS) Therapy for Epilepsy. The DBS therapy can be used for treating epilepsy in patients who have continued seizures. This...
16Mar2010 | vitalstocks | 0 comments | Continued(BMY) Bristol-Myers Squibb’s Plavix Gets Stronger Warning
Recently, the U.S. Food and Drug Administration (FDA) added its strongest warning to the label for blood thinner drug Plavix. Plavix is Bristol-Myers Squibb’s (BMY) lead drug. It is an antiplatelet blood thinner indicated to reduce the risk of heart attack in patients with...
16Mar2010 | vitalstocks | 0 comments | Continued(MNKD) MannKind Suffers Setback From FDA
MannKind Corp. (MNKD) suffered a major setback with respect to its lead product, Afrezza, inhaled insulin for treating type I and type II diabetes. The company received a complete response letter (CRL) from the US Food & Drug Administration (FDA) recently. The FDA has asked...
16Mar2010 | vitalstocks | 0 comments | Continued(NFLX) Netflix Picks Akamai Technologies for Streaming
The DVD and streaming video company Netflix Inc. (NFLX) announced that it has selected Akamai Technologies, Inc. (AKAM) as its primary content delivery network for movies and TV episodes streamed instantly over the Internet. Netflix is the largest online movie rental subscription...
16Mar2010 | vitalstocks | 0 comments | Continued(CSCO) Cisco Systems – Bull of the Day
Cisco Systems (CSCO) is a leading provider of IP-based networking and other products. The company’s second-quarter results beat the Zacks Consensus on both the top and bottom lines. Orders continued to strengthen in the last quarter, indicating continued business momentum. New...
16Mar2010 | vitalstocks | 0 comments | Continued(KR) Kroger Analyst Ups Stock to Neutral
We recently upgraded our recommendation on Kroger Company (KR) to Neutral from Underperform with a target price of $23.00. Kroger’s dominant position among the nation’s largest grocery retailers enables the company to sustain top-line growth, expand store base and boost market...
16Mar2010 | vitalstocks | 0 comments | Continued(GG) Goldcorp Adjusts Fourth Quarter Profits Up
Gold mining company Goldcorp’s (GG) adjusted net profits more than doubled to 25 cents in the fourth quarter of 2009 from 12 cents per share in the year-ago period. Earnings which benefited from high metal prices, were also ahead of the Zacks Consensus Estimate of 24 cents. For...
16Mar2010 | vitalstocks | 0 comments | Continued(PLCE) The Children’s Place Retail Stores – Consensus Estimates Rise
The Children’s Place Retail Stores, Inc. (PLCE) is opening stores at the same time it is controlling its inventories. PLCE is trading at 13.9x forward earnings. Company Description The Children’s Place is a children’s specialty retailer which operates 947 stores...
16Mar2010 | vitalstocks | 0 comments | Continued(COP) ConocoPhillips to Develop Off Norway
ConocoPhillips (COP) has recently submitted its proposals to the Norwegian Oil Ministry for further development of the North Sea Ekofisk South and Eldfisk offshore fields. While the company said that final investment decisions will be taken in 2011, the estimated amount for both...
16Mar2010 | vitalstocks | 0 comments | Continued(BID) Sotheby’s – Revenue Was Up 31%
Sotheby’s (BID) just hit a new 52-week high on the company’s better than expected Q from early March that were driven by a rebound in the global economy. Company Description Sotheby’s, together with its subsidiaries, operates as an auctioneer of fine and decorative...
16Mar2010 | vitalstocks | 0 comments | Continued(DVN) Energy Information Administration Reports Gas Prices Drop on Supply – Weather
The federal government’s Energy Information Administration (EIA) reported an in-line decline in natural gas supplies. Stockpiles held in underground storage in the lower 48 states fell by 111 billion cubic feet (Bcf) for the week ended Mar. 5, 2010. The inventory decline was...
16Mar2010 | vitalstocks | 0 comments | Continued(AXS) AXIS Capital Holdings Predicts Preliminary Losses
Yesterday, AXIS Capital Holdings Ltd. (AXS) provided its preliminary loss estimates from the earthquake in Chile and the European Windstorm Xynthia. AXIS Capital announced that it expects to incur net losses between $60 million and $125 million for the earthquake. The 8.8 magnitude...
16Mar2010 | vitalstocks | 0 comments | Continued(XOM) ExxonMobil Settles Deals for Liquefied Natural Gas
ExxonMobil Corp (XOM) has finalized financing and sales agreements and said that it can now start developing a liquefied natural gas (LNG) project in Papua New Guinea (PNG). Exxon has made a sales agreement with Osaka Gas Company and Tokyo Electrical Power Company of Japan, Taiwan’s...
16Mar2010 | vitalstocks | 0 comments | Continued(VZ) Will Verizon Wireless Launch LTE Phone in Mid-2011?
Verizon Communications Inc. (VZ) has hinted that it may roll out handsets based on the Long-Term Evolution (LTE) wireless broadband standard by mid-2011. This is about six months earlier than previous expectations and roughly three to six months following the carrier’s planned...
16Mar2010 | vitalstocks | 0 comments | Continued(JEC) Jacobs Engineering Group Wins Middle East Contract
Jacobs Engineering Group Inc. (JEC) won a contract from Marafiq to serve as project management contractor (PMC) for Marafiq’s ongoing investment program in Saudi Arabia. The contract value was not disclosed. Jacobs will provide PMC services for a number of projects in the...
16Mar2010 | vitalstocks | 0 comments | Continued(CEO) CNOOC Plans Joint Venture in Argentina
To expand the company’s global footprints, CNOOC Ltd (CEO) expects to form a joint venture with Argentina’s oil and gas producer Bridas Energy Holdings. CNOOC has proposed a 50/50 joint venture with Bridas Energy Holdings Ltd in Bridas Corporation for a consideration of approximately...
16Mar2010 | vitalstocks | 0 comments | Continued(DELL) Dell Files Lawsuits Against Price Fixing
Leading computer manufacturer Dell Inc. (DELL) recently filed lawsuits against five Japanese and Taiwanese technology companies, which have formed a cartel to fix the price of liquid crystal display panels. The five companies named in the lawsuit include Sharp Corporation, Toshiba...
16Mar2010 | vitalstocks | 0 comments | Continued(CA) CA Fortifies Cloud Computing Virtualization Platform
The world’s leading information technology (IT) management software sompany CA Inc. (CA) recently disclosed through a press release that its virtualization management solutions now support Sun’s Solaris Zones virtualization platform. This enhanced service from CA is expected...
16Mar2010 | vitalstocks | 0 comments | Continued(MGM) MGM Mirage’s Contractor Plans CityCenter Project Liens
The primary general contractor of MGM Mirage’s (MGM) $8.5 billion CityCenter project on the Las Vegas Strip is planning to take legal action against its owners. MGM Mirage, which owns CityCenter in a joint venture with Dubai World, has disclosed in a regulatory filing with...
16Mar2010 | vitalstocks | 0 comments | Continued