Archive for April, 2010
(BSX) Boston Scientific Faces Potential Class Action Lawsuit
Boston Scientific Corporation (BSX) recently faced legal action when law firm Izard Nobel LLP filed a case against BSX in the United States District Court of Massachusetts on behalf of purchasers of Boston Scientific’s common stock between April 20, 2009 and March 12, 2010,...
13Apr2010 | vitalstocks | 0 comments | Continued(MAR) Marriott International to Expand in Indian Hotel Market
Marriott International Inc. (MAR) is set to further explore the Indian hotel market. Last Friday, the company announced the signing of four additional hotels for its portfolio in India. This would bring the total to 29 properties which are now under construction or development...
13Apr2010 | vitalstocks | 0 comments | Continued(PTR) PetroChina Analyst Cuts Rating to Neutral
We are downgrading PetroChina Co. Ltd. (PTR) ADRs to Neutral from Outperform, particularly concerned by the high-priced gas imports in the face of low domestic gas sale prices. As more high-priced gas import is being brought in, there is an urgent need for PetroChina to press...
13Apr2010 | vitalstocks | 0 comments | Continued(ABK) Ambac Financial Group Reverses Loss
After the closing bell on Thursday, Ambac Financial Group (ABK) reported fourth quarter earnings of $1.93 per share. Last year, the company reported a loss of $8.14 per share. Earnings were aided by tax benefit of $472 million and $133.2 million gain on credit derivatives. Net...
13Apr2010 | vitalstocks | 0 comments | Continued(TLM) Talisman Energy Sells C$1.9 Billion in Non-Core Assets
Talisman Energy Inc. (TLM) has agreed to sell a number of its non-core Canadian assets for total proceeds of C$1.9 billion. The sale is expected to take place in five transactions. These transactions include the sale of roughly one million net acres of land in the greater Peace...
13Apr2010 | vitalstocks | 0 comments | Continued(INFY) Infosys Technologies Limited Beats Earnings Estimates
Infosys Technologies Limited (INFY) reported fourth quarter 2010 earnings per share of 59 cents, ahead of the Zacks Consensus Estimate of 57 cents. This excludes the extra $11 million income arising out of the divestment of OnMobile Systems Inc. Revenue for the quarter was $1,296...
13Apr2010 | vitalstocks | 0 comments | Continued(SLB) Schlumberger Buys French Company, IGEOSS
The oilfield services giant Schlumberger Ltd. (SLB) has acquired IGEOSS, a France-based provider of geomechanical solutions for subsurface modeling, 2D and 3D structural restoration and fracture characterization of complex geologic structures. Though the company has not provided...
13Apr2010 | vitalstocks | 0 comments | Continued(SHLD) Sears Holding’s Canadian Unit Locks Employees Out
Sears Canada Inc., a unit of Sears Holding Corporation (SHLD), recently locked out approximately 500 employees at its warehouse facility in Ontario, north of Toronto, after a series of negotiations relating to compensation and working conditions failed to yield any amicable result. According...
13Apr2010 | vitalstocks | 0 comments | Continued(COP) ConocoPhillips Sells Syncrude Stake to Sinopec
ConocoPhillips (COP) has entered into a definitive agreement with Sinopec (SNP) to sell its 9.03% interest in the Canadian Syncrude operations for $4.65 billion. The deal is subject to both Canadian and Chinese government approvals and is expected to be closed in the third quarter. The...
13Apr2010 | vitalstocks | 0 comments | Continued(F) Ford Motor Company Continues Focus on Brazil
Ford Motor Co. (F) has announced its plan to invest $200 million in Brazil over the next 5 years on top of an investment of $2.2 billion announced last year. The new investment is aimed at developing a new Ford EcoSport small sport utility vehicle (SUV) for the global market. In...
13Apr2010 | vitalstocks | 0 comments | Continued(HON) Honeywell International Scores USAF Contract
Honeywell International (HON) announced that it has been mandated to supply newly designed Inertial Measurement Units, used to accurately position satellites in orbit, for the United States Air Force (USAF) Global Positioning Satellite III Program, in a contract worth $45 million. The...
13Apr2010 | vitalstocks | 0 comments | Continued(ERJ) Empresa Brasileira de Aeronáutica S.A. Quarterly Deliveries Increase Slightly
Recently, Empresa Brasileira de Aeronáutica S.A. – Embraer (ERJ) reported the jet deliveries made during the first quarter of fiscal 2010. During the quarter, total jet deliveries were 41 compared to 40 in the year-ago quarter. However, firm order backlog slipped 3.6%...
13Apr2010 | vitalstocks | 0 comments | Continued(RRC) Range Resources Corporation Marcellus Shale Update
The long-term upstream prospect of Range Resources Corporation (RRC) is gaining momentum with superb drilling results in the Marcellus Shale play. Range’s large acreage holdings will support several years of oil and gas drilling in this fast-growing field. In its recent Marcellus...
13Apr2010 | vitalstocks | 0 comments | Continued(FAST) Fastenal Earnings Report Exceeds Estimates
Fastenal Co. (FAST) of Winona, Minnesota has earned $56 million or 38 cents per share in the first quarter ended March 31, 2009, compared with $49 million or 33 cents per share in the year-ago period. With this, the company has beaten the Zacks Consensus Estimate of 33 cents...
13Apr2010 | vitalstocks | 0 comments | Continued($AAPL) How to Control Apple Shares for $11.50
It’s no secret that Apple (Nasdaq: AAPL) shares are on fire. Since the stock hit its 52-week low of $115 back in April 2009, the price has surged by 110%, with the recent launch of the iPad providing a further boost. But at $242 per share, most investors haven’t bothered...
13Apr2010 | InvestmentU | 0 comments | Continued(TEF) Germany Auctions 4G Broadband Wireless Spectrum
Europe’s first 4G mobile broadband spectrum (radio airwave) auction officially kicked off in Mainz, Germany, on April 12, 2010. The country’s telecom regulator Bundesnetzagentur has reportedly commenced auctioning the 4G radio spectrum, which will be used by the incumbent...
13Apr2010 | vitalstocks | 0 comments | Continued(FII) Federated Investors Borrows $425 Million
On Monday, Federated Investors Inc. (FII) announced that it has got into a new term-loan agreement worth $425 million for five years, thereby revising its existing $140 million term-loan agreement. The principal amount of the new term loan will be paid on a quarterly basis, with...
13Apr2010 | vitalstocks | 0 comments | Continued(NDAQ) Nasdaq OMX Introduces Smartphone Index
On Monday, Nasdaq OMX Inc. (NDAQ) announced that it has partnered with the Consumer Electronics Association (“CEA”) to introduce the Nasdaq OMX CEA Smartphone IndexSM (“QFON”). The Smartphone Index is set to mark new and high standards for the telecommunications...
13Apr2010 | vitalstocks | 0 comments | Continued(F) U.S. Trade Deficit Rises in February
The Trade Deficit rose to $39.70 billion in February, up from $36.95 billion in January and $26.50 billion a year ago. A higher trade deficit directly lowers economic growth. The silver lining in the report is that it is increasing for the “right reason,” with imports...
13Apr2010 | vitalstocks | 0 comments | Continued(DUK) Duke Energy Secures $200 Million in Credit
Duke Energy Corporation (DUK) and its wholly owned subsidiary, Duke Energy Carolinas, have entered into a new four-year senior unsecured revolving credit facility with regional, community and minority-owned banks operating throughout the Duke Energy Carolinas service territory. Duke...
13Apr2010 | vitalstocks | 0 comments | Continued(RTN) Raytheon Gets $88 Million Passenger Security Equipment Contract
Raytheon Company (RTN) was awarded an $88 million task order to install passenger checkpoint screening equipment at airports in the U.S. The task order was issued under the Transportation Security Administration’s Security Equipment Integration Services contract. Raytheon...
13Apr2010 | vitalstocks | 0 comments | Continued(MOT) WiMAX Speeds Getting Super-Fast
The next-generation (4G) WiMAX network architecture still enjoys commendable growth potential and generates enthusiasm among several global telecom service providers. Recently, WiMAX Forum and the Institute Electronics and Electrical Engineers (IEEE), have taken initiatives to...
13Apr2010 | vitalstocks | 0 comments | Continued(IT) Gartner IT Spending Forecast for 2010
Renowned technology research firm Gartner Inc. (IT) recently revealed its IT spending forecast for 2010. The firm is bullish on the revival in sentiment across the globe, and expects that spending on technology products and services will reach $3.4 trillion, registering a growth...
13Apr2010 | vitalstocks | 0 comments | Continued(AA) Tuesday April 13, 2010 – Market Commentary by Gregory Spear
S&P Throws Kiss to 1200 On Monday the Dow reached 11,029 but could not make much headway after that. The S&P blew a kiss at the 1200 level, but could not consummate the osculatory embrace. Earnings season is starting. First quarter earnings growth is expected to be around...
13Apr2010 | vitalstocks | 0 comments | Continued(AA) Dennis Slothower with your Stealth Stocks Weekly Update on Monday, April 12, 2010
Summary of Recommendations Stay neutral as sentiment, fundamentals and technicals signal major top is developing. Market Commentary Stocks edged up slightly going into the earnings season on hopes the economy is recovering. Just stay out of this. Don’t buy, don’t...
13Apr2010 | vitalstocks | 0 comments | Continued(KMP) Kinder Morgan Energy Partners – Bear of the Day
We are downgrading Kinder Morgan Energy Partners (KMP) to Underperform from Neutral. While the partnership’s growth prospects are closely linked to a successful completion of organic growth projects, we believe it may face challenges. These challenges include executing...
13Apr2010 | vitalstocks | 0 comments | Continued(LFL) LAN Airlines S.A. Traffic Decreases After Earthquake
Chile based LAN Airlines S.A. (LFL) recently reported passenger traffic for March 2010. Total passenger traffic decreased 8.2% year over year with domestic traffic declining 2.9% and international traffic falling 10.2%. International passenger traffic accounted for approximately...
13Apr2010 | vitalstocks | 0 comments | Continued($TGT) Target Corporation Reports Better-Than-Expected Sales Rise
Target Corporation (TGT), the operator of general merchandise and food discount stores in the United States, recently posted better-than-expected sales results for the five-week period ended April 3, 2010. The healthy sales performance was witnessed across its apparel business...
13Apr2010 | vitalstocks | 0 comments | Continued(TSCO) Tractor Supply Analyst Upgrades Rating to Outperform
We have upgraded our recommendation for Tractor Supply Co. (TSCO) to Outperform based on the company’s healthy operating results in the last quarter and management’s upbeat guidance. During fourth quarter 2009, net income of the company increased 54.8% to $38.3 million from...
13Apr2010 | vitalstocks | 0 comments | Continued(STI) SunTrust Banks May RidgeWorth Investments Unit
In order to find strategic options for its institutional investment-management business, SunTrust Banks Inc. (STI) said on Monday that it is in discussion to partly sell its asset management subsidiary, RidgeWorth Investments. However, the company did not disclose anything about...
13Apr2010 | vitalstocks | 0 comments | Continued