Archive for March, 2010
(RLI) Fitch Upgrades RLI Corporation’s Ratings
Yesterday, RLI Corp.’s (RLI) ratings were upgraded by Fitch Ratings. The rating agency raised the holding company’s ratings including the senior debt rating to ‘BBB+’ from ‘BBB’ and the Insurer Financial Strength (IFS) ratings of its operating...
27Mar2010 | vitalstocks | 0 comments | Continued(SRDX) SurModics Analysts Upgrades the Stock to Neutral
We have recently upgraded our recommendation on SurModics (SRDX) to Neutral. During the first quarter of 2010, the company’s earnings per share (EPS) came in at 24 cents, surpassing the Zacks Consensus Estimate by 5 cents. Although revenues of $21 million were down 26% from...
27Mar2010 | vitalstocks | 0 comments | Continued(FNM) U.S. Existing Home Sales Slip Slightly
Existing home sales fell by 0.6% (seasonally adjusted annual rate) to 5.02 million from a 5.05 million rate in January. This was just 7.0% above the extremely depressed rate of a year ago. However, it was slightly better than the consensus expectations of a 5.00 million rate. Existing...
27Mar2010 | vitalstocks | 0 comments | Continued(REG) Regency Centers Corporation Buys South Charlotte Asset
Regency Centers Corporation (REG), a leading operator and developer of grocery-anchored and community shopping centers across the U.S., recently purchased Providence Commons Shopping Center, a 191,301 square feet retail center in south Charlotte, for an undisclosed amount. Providence...
27Mar2010 | vitalstocks | 0 comments | Continued(FTI) FMC Technologies Analysts Maintain Neutral Rating
We are maintaining our Neutral recommendation on FMC Technologies Inc. (FTI) with a target price of $64. We like FMC Technologies’ diversified product portfolio, specialty service capabilities and proprietary technological expertise. A strong presence in the subsea systems...
27Mar2010 | vitalstocks | 0 comments | Continued(DT) Deutsche Telekom Subsidiary T-Mobile US Touts 3G Wireless Plan
T-Mobile USA, the US subsidiary of German telecom giant Deutsche Telekom (DT), announced a major upgrade to its nationwide 3G mobile broadband network. At the CTIA wireless conference in Las Vegas, the fourth-largest national carrier revealed its plans to expand its HSPA+ standard...
27Mar2010 | vitalstocks | 0 comments | Continued(ALNY) Alnylam Pharmaceuticals Earns Gets $20 Million Payment
Recently, Alnylam Pharmaceuticals, Inc. (ALNY) earned $20 million as technology transfer payment from Takeda Pharmaceutical. The amount was paid by Takeda as part of the strategic alliance formed by the companies in 2008. The deal is potentially valued at $1 billion. In May 2008,...
27Mar2010 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell in China Gas Deal
Energy major Royal Dutch Shell Plc. (RDSA) has agreed to jointly develop a natural gas project in China with the country’s state-owned entity China National Petroleum Corporation, also known as CNPC. The financial terms of the transaction were not disclosed. As per the 30-year...
27Mar2010 | vitalstocks | 0 comments | Continued(VNO) Vornado Realty Trust Offers Unsecured Notes
Vornado Realty Trust (VNO), one of the largest real estate investment trusts (REITs) in the U.S., has recently announced an offering of $500 million aggregate principal amount of 4.25% senior unsecured notes due April 1, 2015. The debt offering is expected to raise net proceeds...
27Mar2010 | vitalstocks | 0 comments | Continued(DHI) Report on New U.S. Home Sales is Just Plain Ugly
New Home Sales dropped to an all time record low in February, down 2.2% on the month to a seasonally adjusted annual rate of 308,000. The one saving grace to the report was that the January numbers, which previously were the all-time record low, were revised to a 315,000 rate...
27Mar2010 | vitalstocks | 0 comments | Continued(ETR) Entergy Hits Regulatory Roadblock
Entergy Corporation’s (ETR) proposed spin-off of its non-utility Nuclear power business hit a regulatory road-block. The New York Public Service Commission (NYPSC) played spoilsport and rejected the spin-off request. NYPSC is apprehensive of the financial health of the resultant...
27Mar2010 | vitalstocks | 0 comments | Continued(ZION) Zions Bancorporation Sets Exchange Ratio for Notes
On Thursday, Zions Bancorporation (ZION) announced the exchange ratios for swapping its common stock to its outstanding non-convertible subordinated notes. Deutsche Bank Securities Inc., a wing of Deutsche Bank AG (DB) and Goldman, Sachs & Co., a wing of Goldman Sachs Group...
27Mar2010 | vitalstocks | 0 comments | Continued(ABX) Barrick Gold Corporation Raises $834 From Spinoff
Barrick Gold Corporation (ABX) has raised about $834 million from spinning off African Barrick Gold plc through an initial public offering. Barrick has offered about 101 million shares priced at $8.8 (575 pence), at the lower end of the expected price range of $8.6 to $10.1(550...
27Mar2010 | vitalstocks | 0 comments | Continued($Q) Qwest Seeks Federal Stimulus Funds
Qwest Communications (Q) has reportedly applied for federal stimulus funding to beef up broadband network access in the rural regions across 14 US states. The fourth-largest US phone company is seeking $350 million in grants from the “Broadband Initiatives Program (BIP)”...
27Mar2010 | vitalstocks | 0 comments | Continued(AMMD) American Medical Systems Holdings Analysts Maintain Neutral Rating
We recently reiterated our ‘Neutral’ recommendation on American Medical Systems Holdings, Inc. (AMMD) with a target price of $20 based on a P/E of approximately 16.4x our fiscal 2010 EPS estimate of $1.22. American Medical reported fourth-quarter earnings per share of 35...
27Mar2010 | vitalstocks | 0 comments | Continued(WIN) Windstream Corporation’s Acquisition of Iowa Telecom Approved by Shareholders
Windstream Corporation’s (WIN) acquisition of Iowa Telecom (IWA) has been reportedly approved by Iowa’s shareholders. The transaction, which is now subject to approvals of federal and state regulators, is expected to close in mid-2010. Windstream announced its acquisition...
27Mar2010 | vitalstocks | 0 comments | Continued(CEO) CNOOC Limited Signs Agreement For Liquefied Natural Gas in Australia
CNOOC Ltd. (CEO) has signed an agreement with BG Group of Australia for the purchase of liquefied natural gas (LNG) from Queensland Curtis LNG (“QCLNG”) facility on Curtis Island, Australia. As per the agreement, CNOOC will purchase 3.6 million tons of LNG annually...
27Mar2010 | vitalstocks | 0 comments | Continued(GENZ) Genzyme Corporation Sees FDA Consent Decree Likely
Just when Genzyme Corp. (GENZ) was slowly making some progress in addressing its manufacturing issues, the company announced that the US Food and Drug Administration (FDA) intends to take enforcement action related to the company’s manufacturing facility at Allston Landing. The...
27Mar2010 | vitalstocks | 0 comments | Continued(HIG) Hartford Financial Services Group’s Ratings Affirmed by A.M. Best
Following Hartford Financial Services Group Inc.’s (HIG) recent decision to repay the entire $3.4 billion of bailout money it received from the government under the Troubled Asset Relief Program (TARP), rating agency A.M. Best Co. has affirmed the issuer credit rating (ICR)...
27Mar2010 | vitalstocks | 0 comments | Continued(TWC) Time Warner Cable Road Runner Subscribers Get Wi-Fi
Time Warner Cable Inc. (TWC) has started offering Wi-Fi services to its Road Runner cable modem subscribers, which will give them unlimited access to a fast and free wireless Internet connection at several locations in the New York City region. In last December, Time Warner Cable...
27Mar2010 | vitalstocks | 0 comments | Continued(WTS) The “Oil of the 21st Century” – How “Blue Gold” Can Make You Rich
As I write to you, I’m sipping on the world’s most essential commodity. It is, of course, water. I say “of course,” but despite its critical importance to every single human being, the water industry is shamefully neglected. On Monday, March 22, for example, World...
27Mar2010 | InvestmentU | 0 comments | Continued(STJ) St. Jude Medical Gets Australian Approval
St. Jude Medical, Inc. (STJ) recently received regulatory and reimbursement approval from the Australian Therapeutic Goods Administration (TGA) for its Brio deep brain stimulation (DBS) system for treating the symptoms of Parkinson’s disease. The Brio deep brain stimulation...
27Mar2010 | vitalstocks | 0 comments | Continued(LMT) Final Fourth Quarter GDP Revised Down to 5.6%
Where the Growth Came From This is essentially the same report as was posted when the first and second cuts at the 4th Quarter GDP numbers came out, but with the revised contributions to growth shown, the numbers from the first two releases are in parentheses, with the second...
27Mar2010 | vitalstocks | 0 comments | Continued(EPB) El Paso Pipeline Partners Buys Assets – Issues $425 Million Debt Offering
El Paso Pipeline Partners L.P. (EPB) has agreed to buy interests in two energy companies for $810 million. Separately, the company announced the commencement of a $425 million debt offering, which is due in 2020. Acquisition The Partnership will acquire 51% interest in both...
27Mar2010 | vitalstocks | 0 comments | Continued(C) Citigroup Commits to Home Affordable Mortgage Program for Second Liens
Yesterday, Citigroup Inc. (C) announced its commitment to participate in the second-lien program of the U.S. government’s Home Affordable Mortgage Program (HAMP). Besides Citi, Bank of America Corp. (BAC), Wells Fargo & Co. (WFC) and JPMorgan Chase & Co. (JPM) are also...
27Mar2010 | vitalstocks | 0 comments | Continued(BIIB) Biogen Idec’s Tysabri Against Teva’s Copaxone and Merck Serono/Pfizer’s Rebif
Biogen Idec (BIIB) and Elan Corporation, plc (ELN) recently announced that they have started enrolling patients for a phase IIIb head-to-head study between Tysabri and Teva Pharmaceuticals’ (TEVA) Copaxone and Merck Serono/Pfizer’s (PFE) Rebif. The randomized, rater-blinded,...
27Mar2010 | vitalstocks | 0 comments | Continued(USO) Embracing Volatility – How to Use the Put-Sell Strategy to Grab Stock Discounts and Cash
When I was a floor trader on the NYMEX in the 1990s, a “big” day occurred when oil futures moved by $0.50 intraday. And it would take all day for that to happen. Today’s fluctuations make those days look like bingo night at the church hall. It’s not uncommon to see...
27Mar2010 | InvestmentU | 0 comments | Continued(HOG) Harley-Davidson Earnings Preview
Harley-Davidson Inc. (HOG) announced that it will release its first quarter results for 2010 before the market opens on April 20, 2010. The motorcycle maker had disappointed in the fourth quarter of 2009 by reporting a loss of $147.2 million or 63 cents per share compared to...
25Mar2010 | vitalstocks | 0 comments | Continued(HST) Two Great Hotels to Choose From
For my Financial Tides portfolios I was using Barchart to screen for some new stocks and on the top of my screens came 2 hotels: Host Hotels & Resorts (HST) and Starwoods Hotels & Resorts (HOT). If I’m on Bing and trying to make a travel reservation I have to...
25Mar2010 | Shawn | 0 comments | Continued(WMGI) Wright Medical Group Remains Neutral
We recently reiterated our ‘Neutral’ recommendation on Wright Medical Group, Inc. (WMGI) with a target price of $17.50 based on a P/E of 25.4 our fiscal 2010 EPS estimate of 69 cents. The company’s fourth quarter and fiscal 2009 results were mixed. Wright Medical reported...
25Mar2010 | vitalstocks | 0 comments | Continued