Archive for April, 2010
(BBBY) Bed Bath & Beyond Report Beats Earnings Expectations
Bed Bath & Beyond Inc. (BBBY) recently reported better-than-expected fourth quarter fiscal 2009 results with net income of $226 million or 86 cents per share, compared to $141.4 million or 55 cents per share in the year-earlier quarter. For fiscal 2009, Bed Bath reported...
8Apr2010 | vitalstocks | 0 comments | Continued(MYL) Mylan Earns FDA Approval For Laxative Candidate
Mylan Inc. (MYL) received approval from the US Food and Drug Administration (FDA) for the generic version of Braintree Laboratories’ NuLytely, a laxative. The company is eligible to ship the product immediately, which recorded US sales of about $31 million in 2009. Following...
8Apr2010 | vitalstocks | 0 comments | Continued(VOD) Vodafone Introduces 2G Browser For Low-End Phones
Vodafone (VOD) has teamed up with Norway-based browser developer Opera Software ASA to bring mobile Internet experience to millions of people across the emerging economies. The carrier plans to introduce a tailor-made version of the popular Opera Mini 5 mobile browser that will...
8Apr2010 | vitalstocks | 0 comments | Continued(ACN) Accenture Awarded Five-Year Banking Contract
Accenture Plc (ACN) has won a five-year application outsourcing contract from Nordea, which is a leading banking and financial services group. The company did not disclose the financial details of the deal, but this service from Accenture is expected to help Nordea attain cost...
8Apr2010 | vitalstocks | 0 comments | Continued(NOK) Nokia Corporation Offers Free Music Service
In order to remain competitive in the high-end smartphone market, Nokia Corp. (NOK), the largest mobile phone manufacturer of the world, has decided to offer free music downloading services in several emerging markets. The company has decided to offer its “Comes with Music”...
8Apr2010 | vitalstocks | 0 comments | Continued(SYK) Stryker Analyst Maintains Stock at Neutral
We recently assigned a ‘Neutral’ rating to Stryker Corporation (SYK) with a target price of $60 based on a P/E of 18.4x our fiscal 2010 EPS estimate of $3.26. Stryker reported fourth quarter earnings per share of 82 cents, in line with the Zacks Consensus Estimate and higher...
8Apr2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Expands Board of Directors
Yesterday, American International Group Inc. (AIG) announced that its Board of Directors has elected Henry S. Miller as a Director. Mr. Miller is the Chairman, Managing Director and co-founder of Miller Buckfire & Co. LLC, an investment bank that specializes in corporate...
8Apr2010 | vitalstocks | 0 comments | Continued(JEC) Jacobs Engineering Group Wins $5.4 Million Contract
Jacobs Engineering Group Inc. (JEC) has recently won a two-year contract of $5.4 million from the Force Protection Products Division (ZI) of the Air Force Cryptologic Systems Group (CPSG) at Lackland Air Force Base, Texas. According to the agreement, Jacobs is supposed to provide...
8Apr2010 | vitalstocks | 0 comments | Continued(TTM) Tata Motors – Analyst Earnings Estimates Increasing
Tata Motors (TTM) has a Zacks #1 Rank and trades at 16x fiscal 2011 consensus EPS estimates. Growth and Income Analysts estimate that Tata Motors will grow its EPS at 35% annually for the next 3 to 5 years. The stock also offers investors a dividend yield of 0.5%. Company Description Tata...
8Apr2010 | vitalstocks | 0 comments | Continued(JOSB) JoS. A. Bank Clothiers – Consensus Earnings Estimates Jump
JoS. A. Bank Clothiers, Inc. (JOSB) built momentum during the dark retail days of 2009 and posted record sales for the year. JOSB is trading with a forward P/E of 14.2. Company Description JoS. A. Bank sells men’s suits, tuxedos, casual clothing, footwear and accessories...
8Apr2010 | vitalstocks | 0 comments | Continued(DTG) Dollar Thrifty Automotive Group – Earnings Estimates Jump On Strong Quarter
Dollar Thrifty Automotive Group Inc. (DTG) recently hit a new 52-week high on the company’s strong Q4 results from mid February and a bullish next-year estimate projecting 49% earnings growth. Company Description Dollar Thrifty Automotive Group, Inc., through its subsidiaries,...
8Apr2010 | vitalstocks | 0 comments | Continued(CMG) Chipotle Mexican Grill – Another Big Earnings Beat
Chipotle Mexican Grill, Inc. (CMG) is soaring as estimates climb and investors pour in ahead of the upcoming earnings release. Company Description Chipotle is a fast food restaurant offering burritos, tacos, and other variations of standard Mexican dishes. The company focuses...
8Apr2010 | vitalstocks | 0 comments | Continued(RT) Ruby Tuesday’s Earnings Report Beats Estimates
Ruby Tuesday, Inc. (RT), the casual dining restaurant operator, recently reported better-than-expected third-quarter 2010 results. Despite a low single-digit decline in the top-line, the company was able to post mid-teens growth in the bottom-line on the heels of effective cost...
8Apr2010 | vitalstocks | 0 comments | Continued(EOG) EOG Resources Announces Major Oil Discoveries
EOG Resources Inc. (EOG) is stepping forward to become a large onshore U.S. oil producer on the back of new discoveries and deployment of more money towards oil through asset sales. In its annual analyst conference, the company announced major oil discoveries in South Texas,...
8Apr2010 | vitalstocks | 0 comments | Continued(OVTI) OmniVision Technologies 2011 Estimates Improve
While 2009 was a very bad year for OmniVision Technologies Inc. (OVTI), there now appears to be reason for cheer. Sell-side research is turning in favor of OmniVision, with JPMorgan (JPM) citing stability/increase in prices this year and Robert Baird reporting major design wins...
8Apr2010 | vitalstocks | 0 comments | Continued(CKR) CKE Restaurants Draws a New Takeover Bid
CKE Restaurants Inc. (CKR), the quick-service restaurant operator, recently hinted that it has received an alternative takeover offer from another bidder without revealing its identity. The company informed that it will continue to hold talks with the new bidder until April 27,...
8Apr2010 | vitalstocks | 0 comments | Continued(TM) Nissan Motors Recalls Cars for Gas Pedal Defect
Nissan Motor Co. has revealed that it will recall 25,024 cars sold in Japan due to a problem with their gas pedals. The Japanese automaker has realized that when released, the faulty gas pedals are returning slowly from their depressed position due to oil sticking to a component...
8Apr2010 | vitalstocks | 0 comments | Continued(CLF) Cliffs Natural Resources – Bull of the Day
Cliffs Natural Resources Inc. (CLF) is the largest producer of iron ore pellets in the U.S. Cliffs’ increasing international iron ore exposure, recovery in its coal business and longer-term diversification into the chromium business are huge positives for the stock. The...
8Apr2010 | vitalstocks | 0 comments | Continued($MS) Morgan Stanley – Bear of the Day
We are downgrading 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...
8Apr2010 | vitalstocks | 0 comments | Continued(MDRX) Allscripts-Misys Healthcare Solutions Beats Consensus Estimate
Allscripts-Misys Healthcare Solutions, Inc. (MDRX) reported third quarter fiscal 2010 earnings per share of 17 cents, beating both the Zacks Consensus Estimate and the year-ago earnings of 14 cents. Sales Total revenues in the third quarter increased 11.9% year over year to...
8Apr2010 | vitalstocks | 0 comments | Continued(BK) Bank of New York Mellon Corporation Appoints Head of Derivatives
In order to leverage its strengths and efficiently grow its global derivatives business, on Wednesday, Bank of New York Mellon Corporation (BK) announced the appointment of Mr. Roderic Prat to its newly-created position – Global Head of Derivatives. As Global Head of Derivatives,...
8Apr2010 | vitalstocks | 0 comments | Continued(SUN) Sunoco Completes Chemical Subsidiary Sale
Oil refiner and marketer Sunoco Inc. (SUN) closed the previously announced sale of its polypropylene subsidiary Sunoco Chemicals Inc. to Brazil-based petrochemical and resin producer Braskem S.A. (BAK) for approximately $350 million in cash. As part of the deal, Sunoco sold polypropylene...
7Apr2010 | vitalstocks | 0 comments | Continued(VMI) Valmont Industries Guides Earnings Lower
Valmont Industries Inc. (VMI), a U.S. manufacturer of lighting poles and support structures, is expecting a 20% year-over-year decline in revenues in the first quarter of 2010. The company is expecting revenues of about $365.0 million in the quarter compared with last year’s...
7Apr2010 | vitalstocks | 0 comments | Continued($JPM) JPMorgan Chase Allies with IBM
In an effort to provide solutions to organizations for rationalizing corporate travel expenses, JPMorgan Chase & Co. (JPM) said on Tuesday that it has entered into a partnership with IBM (IBM) by integrating its expense management tools and services with its Corporate Card...
7Apr2010 | vitalstocks | 0 comments | Continued(FDO) Family Dollar Stores Report Earnings Surge
Family Dollar Stores, Inc. (FDO) has posted better-than-expected second-quarter 2010 results due to robust sales witnessed in the Seasonal and Electronics, Home Products and Consumable categories. The quarterly earnings of 81 cents a share surpassed the Zacks Consensus Estimate...
7Apr2010 | vitalstocks | 0 comments | Continued(EP) El Paso Corporation Project Earns FERC Approval
The Federal Energy Regulatory Commission (FERC) has approved El Paso Corporation’s (EP) $3 billion Ruby Pipeline project. The pipeline will benefit both natural gas producers and consumers in the western United States. El Paso’s 675-mile, 42-inch interstate natural gas pipeline...
7Apr2010 | vitalstocks | 0 comments | Continued(PTV) Pactiv Corporation Completes PWP Industries Acquisition
Pactiv Corporation (PTV) has closed the acquisition of PWP Industries for $200 million. PWP is a leading manufacturer of APET (amorphous polyethylene terephthalate) disposable products. PWP primarily manufactures a range of APET foodservice containers for several channels Incorporatedluding...
7Apr2010 | vitalstocks | 0 comments | Continued(CFN) CareFusion Decides to Acquire Medegen for $225 Million
CareFusion Corporation (CFN) has decided to acquire Medegen for $225 million in cash. CareFusion expects the acquisition to be neutral to the adjusted earnings per share in the first year of operations and increasingly accretive thereafter. The acquisition is expected to be completed...
7Apr2010 | vitalstocks | 0 comments | Continued(DNR) Denbury Resources to Sell Non-Core Assets
Denbury Resources Inc. (DNR) is stepping forward to sell non-core oil and gas properties of previously acquired Encore Acquisition Company to Houston-based Quantum Resources Management LLC for $900 million. The assets to be sold are located in the Permian Basin, southeastern...
7Apr2010 | vitalstocks | 0 comments | Continued(GD) General Dynamics Sells Satellite Business to Orbital Sciences Corporation
General Dynamics (GD) sold its Satellite Development and Manufacturing Business to Orbital Sciences Corporation (ORB). General Dynamics’ subsidiary Advanced Information Systems used to oversee the business. The purchase consideration was $55 million. Orbital augmented its workforce...
7Apr2010 | vitalstocks | 0 comments | Continued