Archive for March, 2010
(PTI) Patni Computer Systems Handily Beats Earnings Estimates
Patni Computer Systems Ltd. (PTI) reported earnings from continuing operations of 46 cents per ADS for the fourth quarter of 2009, compared to the Zacks Consensus Estimate of 38 cents. Revenue during the quarter rose 1.8% sequentially to $170.2 million (INR 7,896.1 million),...
3Mar2010 | vitalstocks | 0 comments | Continued(NUE) Nucor Buys Ocala Recycling
Steel producer Nucor Corp.’s (NUE) subsidiary, the David J. Joseph Company, has bought Ocala Recycling LLC in line with its strategy to grow its scrap-processing industry and its expansion plans in Florida. Ocala Recycling, a subsidiary of Blaze Metals LLC, operates four Ocala,...
3Mar2010 | vitalstocks | 0 comments | Continued(NETC) NET Servicos de Comunicacao SA Downgraded
We downgrade our recommendation for NET Servicos de Comunicacao SA (NETC) to Neutral, which means the stock will perform mostly in line with the broader market. The stock price has moved up nearly 117% in the last one year and is currently trading at the high-end of its 52-week...
3Mar2010 | vitalstocks | 0 comments | Continued(APC) Anadarko Petroleum Lifts Capital Spending Outlook
Anadarko Petroleum Corp. (APC) announced its capital spending plans for 2010 in the $5.3 to $5.6 billion range, up from $4.6 billion in 2009. This represents an increase of about 15% to 22% over 2009. For 2010, the company has allocated approximately $2 billion (36%) of its capex...
3Mar2010 | vitalstocks | 0 comments | Continued(BIG) Big Lots Reports Stronger-Than-Expected Earnings
Big Lots Inc. (BIG) recently posted stronger-than-expected fourth-quarter 2009 results on the heels of better sales, improved inventory control and effective cost management. The quarterly earnings of $1.31 per share outdid the Zacks Consensus Estimate of $1.28, and soared 31%...
3Mar2010 | vitalstocks | 0 comments | Continued(SID) Companhia Siderúrgica Nacional Beats Consensus Earnings Estimates
Recently, Companhia Siderúrgica Nacional (SID) reported results for the fourth quarter and full year 2009. During the quarter, net revenue totaled R$3.06 billion, down 9.8% year over year. However, it was up 2.4% sequentially primarily due to the increase in sales volume in...
3Mar2010 | vitalstocks | 0 comments | Continued(DO) Diamond Offshore Drilling Wins Major Contracts
Diamond Offshore Drilling Inc. (DO), a major contract driller, has received notifications of award for three term drilling contracts from Petrobras (PBR) in Brazil. Excluding bonus and extensions, these contracts have a combined capacity to generate total revenue of approximately...
3Mar2010 | vitalstocks | 0 comments | Continued(GERN) Geron’s Earnings Report Misses Expectations
Geron Corporation (GERN) posted a net loss of $18.4 million, or 20 cents per share in the fourth quarter of 2009, higher than the Zacks Consensus Estimate of a loss of 17 cents. However, the result was better than the year-ago loss of 22 cents. For 2009, the company reported...
3Mar2010 | vitalstocks | 0 comments | Continued(JOYG) Joy Global’s Quarterly Report Surpasses Estimates
Joy Global Inc. (JOYG) posted an EPS of 73 cents for the first quarter of 2010, surpassing the Zacks Consensus Estimate of 64 cents but below the year-ago earnings of 83 cents. The better-than-expected earnings were primarily driven by improved commodities market and better orders...
3Mar2010 | vitalstocks | 0 comments | Continued(EQT) EQT Corporation Buys Marcellus Assets
EQT Corp. (EQT) has decided to purchase approximately 58,000 net acres in the Marcellus Shale from a group of private operators and landowners in a stock and cash deal. The acreage is located primarily in Cameron, Clearfield, Elk and Jefferson counties in Pennsylvania. The total...
3Mar2010 | vitalstocks | 0 comments | Continued(ATSI) ATS Medical Fourth Quarter Reports Weak Results
ATS Medical Inc. (ATSI) recently reported fourth quarter and fiscal 2009 results. For the fourth quarter, loss per share was 3 cents, higher than the Zacks Consensus Estimate of 1 cent and the year-ago figure of 2 cents. For fiscal 2009, loss per share was 7 cents, compared to...
3Mar2010 | vitalstocks | 0 comments | Continued(COST) Costco Wholesale Corporation’s Earnings Rise
Costco Wholesale Corporation (COST), one of the leading U.S. warehouse club operators, recently posted second-quarter 2010 results. The quarterly earnings of 70 cents a share missed the Zacks Consensus Estimate by a penny but rose 27.3% from 55 cents delivered in the prior-year...
3Mar2010 | vitalstocks | 0 comments | Continued(ALLT) Allot Communications’ Loss Narrows in FY2009
Allot Communications Ltd (ALLT) reported fourth quarter of 2009 revenue of $11.5 million, a 21% increase from $9.6 million of revenues reported in the fourth quarter of 2008, and a 6% increase from $10.8 million of revenues reported for the third quarter of 2009. On a GAAP basis,...
3Mar2010 | vitalstocks | 0 comments | Continued($SIRI) SIRIUS XM Radio Analyst Upgrades Coverage to Neutral
We upgrade our recommendation for SIRIUS XM Radio Inc. (SIRI) to Neutral, which means the stock will perform mostly in line with the broader market. The company’s fourth-quarter 2009 financial results came in ahead of the Zacks Consensus Estimates. Significant amount of subscriber...
3Mar2010 | vitalstocks | 0 comments | ContinuedBayer Reports Lower Revenue
Revenues of Bayer (BAYRY) during the fourth quarter declined marginally by 0.6% to €7.87 billion from €7.92 billion in the corresponding period last year. For 2009, revenues came in at €31.16 billion, down 5.3% from €32.91 billion in 2008. Bayer’s core earnings per...
3Mar2010 | vitalstocks | 0 comments | Continued(CSC) Computer Science Corporation Analysts Initiate Coverage at Neutral
We are initiating coverage of Computer Science Corporation (CSC) with a Neutral rating and a price target of $54.50. We believe that the company is fairly valued and is constantly growing through acquisitions which enhance its services portfolio and expand its operations in new...
3Mar2010 | vitalstocks | 0 comments | Continued(TEF) Telefonica SA’s Earnings Report Tops Expectations – Profit Leaps
Telefonica SA (TEF) reported fourth-quarter 2009 results with earnings per ADS of US$2.37, comfortably beating the Zacks Consensus Estimate of US$1.63. The Spanish telecom behemoth reported a net income of €2.44 billion (US$3.60 billion), up 22% year-over-year, supported by...
3Mar2010 | vitalstocks | 0 comments | ContinuedInstitute for Supply Management’s Services Number Better Than Expected
The Institute for Supply Management’s (ISM) non-manufacturing, or Services, index came in at 53.0 for February, up from 50.5% in January. This was well ahead of the consensus expectation that it would increase to 51.0. Any reading over 50 indicates that the service side of...
3Mar2010 | vitalstocks | 0 comments | Continued(TIVO) TiVO Analysts Initiate Coverage at Underperform
TiVo Inc. (TIVO), a leading provider of technology and services for DVRs, offers a subscription-based service that enables consumers to record, watch and control live television. The inconsistency in results, lack of profitability, falling revenue and margins and conservative...
3Mar2010 | vitalstocks | 0 comments | Continued(AMP) Ameriprise Financial Incorporated – Earnings Estimates Climbing
Ameriprise Financial, Inc. (AMP) recently rebounded from a key trend line to jump back within striking distance of the 52-week high at $42.98. Shares of AMP have been trending higher for most of the last month on the heels of the company’s better than expected Q4 results...
3Mar2010 | vitalstocks | 0 comments | Continued(ACL) Alcon – Solid Growth Across All Segments – Novartis Wants to Acquire Alcon
Alcon (ACL) is delivering solid growth across all business segments and pays a dividend yield of 2.3%. Company Description Alcon is one of the world’s leading suppliers of eye care products. The company has three operating segments: Pharmaceutical, which develops glaucoma...
3Mar2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Sells Asian Life-Insurance Unit
In order to attain funds for repaying the government’s bailout, on Monday, American International Group Inc. (AIG) announced the sale of its Asian life-insurance unit, American International Assurance (AIA) to the U.K.’s Prudential Plc (PUK) for about $35.5 billion. This...
3Mar2010 | vitalstocks | 0 comments | Continued(GD) General Dynamics Subsidiary NASSCO Wins U.S. Navy Contract
General Dynamics’ (GD) wholly-owned subsidiary – General Dynamics NASSCO, has been awarded an $824.6 million contract by the U.S. Navy for the construction of two T-AKE dry cargo-ammunition ships. Construction of the two ships is scheduled to begin in the second and fourth...
3Mar2010 | vitalstocks | 0 comments | Continued(BP) EIA Report Shows Steady Cold Has Trimmed Gas Supplies
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 172 billion cubic feet (Bcf) for the week ended Feb. 19, 2010. The inventory decline was...
3Mar2010 | vitalstocks | 0 comments | Continued(ISIS) Isis Pharmaceuticals’ Loss Widens
Isis Pharmaceuticals Inc. (ISIS) reported a net loss of 16 cents per share in the fourth quarter, which was wider than the Zacks Consensus Estimate of a net loss of 11 cents. The company had reported a net loss of 8 cents in the year ago period. The wider-than-expected loss was...
3Mar2010 | vitalstocks | 0 comments | Continued(PDLI) PDL BioPharma’s Fourth Quarter Falls Short
PDL BioPharma, Inc. (PDLI) reported fourth-quarter fiscal 2009 earnings of 17 cents per share, 2 cents below the Zacks Consensus Estimate. The company earned 34 cents (from continuing operations) in the year-ago quarter. Results in the quarter were hurt by lower revenues. Quarterly...
3Mar2010 | vitalstocks | 0 comments | Continued(S) Sprint-Nextel to Jettison “Helio” Brand Soon
Sprint Nextel (S), the third-largest US carrier, announced that it will discontinue the postpaid wireless service (marketed under the “Helio” brand) of its wholly-owned subsidiary Virgin Mobile USA effective May 25, 2010. However, the prepaid service, which is being offered...
3Mar2010 | vitalstocks | 0 comments | Continued(WMT) Automatic Data Processing Sees 20,000 Job Losses
Automatic Data Processing, the largest payroll processing firm in the nation, reported this morning that the nation lost 20,000 private sector jobs in February, which is the smallest number by its count since the recession began all the way back in December of 2007. This is a...
3Mar2010 | vitalstocks | 0 comments | Continued($TM) February U.S. Auto Sales Exceed 10 Million
Sales in the U.S. auto industry grew 13% to 10.4 million vehicles in February, driven by strong fleet sales (sales to rental companies as well as corporate and government houses). Comparable month sales recorded high figures, since February 2009 was the weakest month last year....
3Mar2010 | vitalstocks | 0 comments | Continued(HGSI) Human Genome Sciences Reports Lower Fourth Quarter Loss
Human Genome Sciences, Inc. (HGSI) reported fourth quarter 2009 net loss of $9.7 million or 6 cents per share, narrower than the Zacks Consensus Estimate of 9 cents and the year-ago loss of $61.9 million or 46 cents. The reduced net loss for the quarter was primarily attributable...
3Mar2010 | vitalstocks | 0 comments | Continued