Archive for April, 2010
(MS) Morgan Stanley – Bear of the Day
We have downgraded our recommendation on Morgan Stanley (MS) to Underperform from Neutral. The company’s fourth quarter earnings were substantially behind the Zacks Consensus Estimate. Robust topline growth and a dip in interest and operating expenses were partially offset...
18Apr2010 | vitalstocks | 0 comments | Continued(C) Citigroup Selling Hedge Fund Business SkyBridge Capital
As part of its restructuring efforts, Citigroup Inc. (C) is selling a hedge fund business to SkyBridge Capital, an alternative-investment firm. Though the terms of the deal were not disclosed, the hedge fund business has $4.2 billion of assets under management. SkyBridge is purchasing...
18Apr2010 | vitalstocks | 0 comments | Continued(MASI) Masimo Wins New Customer Nassau University Medical Center
Masimo Corp. (MASI) recently reported that its new customer, Nassau University Medical Center (NUMC), has completed its system-wide conversion to Masimo SET pulse oximetry technology. The conversion allows clinicians to monitor NUMC patients non-invasively using the latest pulse...
18Apr2010 | vitalstocks | 0 comments | Continued(PETM) Petsmart Incorporated – Management is Cautiously Optimistic
Petsmart Inc. (PETM) recently hit a new 52-week high at $33.05 on solid full-year and fourth-quarter performances and an optimistic view from management. Company Description Petsmart, Inc., together with its subsidiaries, operates as a specialty provider of pet supplies, lodging...
18Apr2010 | vitalstocks | 0 comments | Continued(RGA) Reinsurance Group of America Earnings Preview
Reinsurance Group of America (RGA) is slated to release first quarter 2010 earnings on April 27, 2010, before the opening bell. We expect the company’s earnings for 2010 to benefit from the acquisition of ReliaStar, which will further increase the company’s market share in...
18Apr2010 | vitalstocks | 0 comments | Continued(F) Ford Motor Captures Top Sales Spot in Europe
Ford Motor Co. (F) achieved the No.1 spot in the main 19 European markets by posting a sales gain of 16.1% to reach 192,500 vehicles in March. The automaker’s market share also hit a 12-year high in the continent at 10.4%. The 19 European markets (Euro 19) include Austria,...
18Apr2010 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial’s Earnings Report Meets Expectations
People’s United Financial Inc.’s (PBCT) first quarter 2010 operating earnings per share of 8 cents was flat with the Zacks Consensus Estimate as well as last quarter’s figure. Earnings was a cent higher from 7 cents in the prior-year quarter due to improvement in the net...
18Apr2010 | vitalstocks | 0 comments | Continued(VZ) Verizon Wireless to Launch Long-Term Evolution Technology in Fourth Quarter
Verizon (VZ) is reportedly planning to roll out commercial 4G services based on the Long-Term Evolution (LTE) wireless broadband technology during the fourth quarter this year. This brings forward the launch timeline, which was originally expected in late 2010. Based on the information...
18Apr2010 | vitalstocks | 0 comments | Continued(CTIC) Cell Therapeutics Announces Workforce Reduction
Cell Therapeutics (CTIC) recently reduced its workforce by 36 employees. The reduction in staff strength along with the elimination of other planned expenses is likely to result in savings of about $16 million in 2010. The company now expects operating expenses in 2010 to be...
18Apr2010 | vitalstocks | 0 comments | Continued(ISRG) Intuitive Surgical Beats Consensus Earnings Estimate
Intuitive Surgical, Inc. (ISRG) reported first quarter fiscal 2010 earnings per share of $2.12, beating the Zacks Consensus Estimate of $1.66 and the year-ago earnings of 72 cents. Sales Total sales in the first quarter increased 74.4% year-over-year to $328.6 million. Growth was...
18Apr2010 | vitalstocks | 0 comments | Continued(SIRO) Trying to Advance Above a Key Level – Charting Zacks Elite Stocks
Sirona Dental Systems, Inc. (SIRO) recently jumped above a key level of resistance that had kept shares contained in a narrow range between $36.50 and $38 for the last two months. The push higher places shares just four cents away from the 52-week high at $39.35. If shares do...
18Apr2010 | vitalstocks | 0 comments | Continued(ANDS) Anadys Pharmaceuticals Reports Positive Study Data
Anadys Pharmaceuticals Inc. (ANDS) announced that its lead candidate, ANA598, which is being developed for treating patients with hepatitis C virus (HCV) infections, has met its key goals in a mid-stage study. The study saw HCV patients being treated with ANA598 in combination...
18Apr2010 | vitalstocks | 0 comments | Continued(GOOG) Google Slides Post Earnings on China Concerns
Google Inc.’s (GOOG) first quarter earnings beat the Zacks Consensus by 24 cents on revenues that beat by 36.8%. Although shares advanced 1.07% during the day in anticipation of a stronger quarter and further light on the situation in China, investors were obviously disappointed...
18Apr2010 | vitalstocks | 0 comments | Continued(GENZ) Genzyme Reports Encouraging Data on Multiple Sclerosis Drug Candidate
Genzyme Corp. (GENZ) recently reported encouraging follow-up phase II results on its multiple sclerosis candidate alemtuzumab at the annual meeting of the American Academy of Neurology. Alemtuzumab is currently available for the treatment of B-cell chronic lymphocytic leukemia...
18Apr2010 | vitalstocks | 0 comments | Continued(LPX) U.S. Housing Starts and Building Permits Rise
We got some good news and some bad news today. The good news is that both Housing Starts and Building Permits rose in March. The bad news is that both housing starts and building permits rose in March. It is good news, since residential investment is historically one of the...
18Apr2010 | vitalstocks | 0 comments | Continued($BAC) Bank of America Beats Expectations – Swings to Profit
Bank of America Corporation’s (BAC) first quarter 2010 earnings came in at 28 cents per share, substantially ahead of the Zacks Consensus Estimate of 9 cents. However, this compares unfavorably with the earnings of 44 cents in the prior-year quarter. Strong capital markets...
18Apr2010 | vitalstocks | 0 comments | Continued(GCI) Gannett Company Earnings Report Exceeds Expectations
Gannett Company, Inc. (GCI), the publisher of the nation’s largest-selling daily newspaper USA Today, recently posted better-than-expected first-quarter 2010 results buoyed by effective cost-cutting measures, lower newsprint expense and improved advertising demand. Operating...
18Apr2010 | vitalstocks | 0 comments | Continued(SII) Smith International Wins Contract With Chevron Subsidiary
Smith International Inc. (SII) has been awarded a significant multi-service contract by Cabinda Gulf Oil Company Limited, a subsidiary of Chevron Corporation (CVX). The contract is entrusted to one of the three reportable segments of Smith ? M-I SWACO. The M-I SWACO segment is...
18Apr2010 | vitalstocks | 0 comments | Continued(LLL) L-3 Communications Holdings Acquires Insight Technology
L-3 Communications Holdings Inc. (LLL) has completed the acquisition of Insight Technology Incorporated. Insight develops and manufactures mission critical night vision and electro-optical equipment including laser aiming and illumination devices, laser rangefinders, laser markers...
18Apr2010 | vitalstocks | 0 comments | ContinuedHow Does the U.S. Solve an Economic Problem Like China?
The more things change… the more they stay the same. During the eight years of his presidency, George Bush and his administration had Chinese premier Hu Jintao on speed dial. More often than not, item No. 1 was the yuan. Namely, appealing to China to let its currency float...
18Apr2010 | InvestmentU | 0 comments | ContinuedFinancial Tides Weekly Market Report – Friday, 16 April
Each week end on Financial Tides we take time to forget all the TV and newsprint headlines and see what really happened in the market this week. Any of you old enough to remember Dragnet ? Sargent Friday would always say “Just the facts Ma’am” when anyone would...
18Apr2010 | Shawn | 0 comments | Continued(JEC) Jacobs Engineering Group Analyst Upgrades Stock to Neutral
We upgrade our recommendation on Jacobs Engineering Group Inc. (JEC) from “Underperform” to “Neutral” based on the belief that a number of new contracts and strict cost control measures will help it perform well in future. Jacobs’ continual emphasis on cost...
18Apr2010 | vitalstocks | 0 comments | Continued(CSC) Computer Sciences Corporation is Taking Off with Airbus
Things are going in favor of the information technology (IT) major Computer Sciences Corporation (CSC). The company recently announced that it has been chosen by Airbus as a principal consultant for further enhancement of the Value Chain Visibility (VCV) and Auto-ID program of...
18Apr2010 | vitalstocks | 0 comments | Continued(BRKA) L.B. Foster Company – Reparing America’s Infrastructure
In our opinion, had Mr. Obama spent the past year repairing America’s holes by getting Americans back to work instead of using all of his political capital to get the health care bill passed, we think the American economy would be much further along the road to recovery...
18Apr2010 | Wax | 0 comments | Continued(LUV) US Airways & United Airlines Talking Airline Consolidation
For the airline sector, consolidation is in the air. And with good reason too. Last year, the industry lost $9.4 billion. This year, the International Air Transport Association expects it to lose another $2.8 billion. On the positive side, that makes buying up rivals very...
18Apr2010 | InvestmentU | 0 comments | Continued(LSTR) Landstar System Tops Earnings Expectations
Landstar System Inc. (LSTR) posted 2010 first-quarter results after the closing bell yesterday. The company’s net income recorded growth of 23.7% to $17.2 million, from $13.9 million in the year-ago quarter. Earnings per share of 34 cents was above the year-ago result of 27...
15Apr2010 | vitalstocks | 0 comments | Continued(CB) Chubb Corporation Earnings Preview
Property and casualty insurer Chubb Corp. (CB) is scheduled to release its first quarter 2010 earnings on April 22, 2010, after the close of the market. Management has not provided any financial guidance for the first quarter. The insurer is likely to face a dent in its first...
15Apr2010 | vitalstocks | 0 comments | Continued(PFWD) Phase Forward Signs Agreement With Integrium
Phase Forward (PFWD) recently announced an agreement with Integrium LLC. Under the agreement, Integrium will use Phase Forward’s Interactive Response Technology (IRT) solutions. Phase Forward provides software products, services and hosted solutions for use in global clinical...
15Apr2010 | vitalstocks | 0 comments | Continued(PPG) PPG Industries Reports Strong Quarter
Global paints and coatings supplier PPG Industries Inc. (PPG) reported sales for the first quarter of 2010 of $3.1 billion, up 12% versus the prior year’s first quarter. Taking a one-time charge of $85 million or 52 cents per share, the Pittsburgh-based company reported a first...
15Apr2010 | vitalstocks | 0 comments | Continued(ITMN) InterMune Presents Positive Pipeline Data
Recently, InterMune (ITMN) announced results from a mid-stage study of one of its pipeline candidates, danoprevir. The drug is being studied in a phase IIb trial to treat hepatitis C. The study was conducted by Roche (RHHBY) as part of its collaboration with InterMune for the...
15Apr2010 | vitalstocks | 0 comments | Continued