Archive for April, 2010
(BTU) Peabody Energy Bid to Buy Australia’s Macarthur Coal Limited is Declined
Australia’s Macarthur Coal Limited declined Peabody Energy Corporation’s (BTU) takeover bid of $3.0 billion, saying it undervalues the company and its growth prospects. Macarthur holds 145 million tons of reserves of low-volatile pulverized coal injection (PCI) coal and 1.3...
1Apr2010 | vitalstocks | 0 comments | Continued(KMP) Kinder Morgan Energy Partners L.P. Analyst Downgrades
We have recently downgraded Kinder Morgan Energy Partners L.P. (KMP) to Underperform from Neutral. Although the partnership’s annualized distribution rate is higher than the industry rate ($4.20 vs. $3.47 per unit) and it expects a 4.8% growth for this year, we are concerned...
1Apr2010 | vitalstocks | 0 comments | Continued(CYPB) Cypress Bioscience’s Fourth Quarter Loss Narrows
Cypress Bioscience, Inc. (CYPB) reported a net loss of 13 cents per share in the fourth quarter Incorporatedluding the impact of a $1.1 million goodwill impairment charge associated with the company’s personalized medicine services business. Excluding this charge, net loss...
1Apr2010 | vitalstocks | 0 comments | Continued(SNE) Sony Plans to Sell LCD Plant
According to the Financial Times, in an effort to lower cost, Sony Corp. (SNE) is expected to sell its liquid crystal display (LCD) plant, located in Japan to its competitor Kyocera Corp. (KYO). According to sources, Kyocera will purchase the Yasu plant, which manufactures small...
1Apr2010 | vitalstocks | 0 comments | Continued(FLIR) Flir Systems Earns $13.5 Million Order
FLIR Systems Inc. (FLIR) announced that it has obtained a $13.5 million order from Naval Surface Warfare Center (NSWC), Crane Division for its BRITE Star® II multi-sensor target designation systems. The units delivered under this order will be used by the U.S. Marine Corps and...
1Apr2010 | vitalstocks | 0 comments | Continued(NLR) Breaking the Stigma of Nuclear Power by Investing in Uranium
Want an explosive reaction? Just mention nuclear power and get set for some very passionate opinions. Normally, those opinions center around one of two ideas… People normally either champion it as a practical answer to climate change. Or they cite the disaster at Chernobyl...
1Apr2010 | InvestmentU | 0 comments | Continued(DGX) Why Healthcare Reform Should Help The Diagnostics Industry
America seems to be divided into two camps… Not blue states versus red states. Not Yankees fans versus Red Sox fans (although why you’d be the latter I’ll never understand). Not even people who support the new healthcare reform bill versus those who are opposed to it. Rather,...
1Apr2010 | InvestmentU | 0 comments | Continued(XEL) Xcel Energy Enters Power Purchase Agreement
Xcel Energy Inc. (XEL), through its subsidiary Public Service Company of Colorado (PSCo), entered into a power purchase agreement (PPA) with Renewable Energy Systems Americas Inc. (RES Americas). Under the agreement, PSCo will buy 252.2 megawatts (MW) of power from RES America’s...
1Apr2010 | vitalstocks | 0 comments | Continued(ADP) Institute for Supply Management’s Manufacturing Survey Reaches Six-Year High
The Institute for Supply Management’s (ISM) manufacturing survey rose to a reading of 59.6 from 56.5 in January, an increase of 3.1 points and above the 57.0 reading that was expected. Any reading over 50 indicates that the manufacturing economy is expanding, so this is...
1Apr2010 | vitalstocks | 0 comments | Continued(TWGP) Tower Group Announces First Quarter Catastrophe Loss Estimates
Property and casualty insurer Tower Group Inc (TWGP) today announced its estimation for first quarter 2010 catastrophe loss. The company approximated a total after-tax catastrophe loss from the northeast storm in the range of $7.2 million to $9.1 million according to preliminary...
1Apr2010 | vitalstocks | 0 comments | Continued(ANGO) AngioDynamics Beats Consensus Estimates
AngioDynamics, Inc. (ANGO) recently reported third quarter fiscal 2010 earnings per share of 13 cents that beat the Zacks Consensus Estimate of 12 cents and the year-ago earnings of 8 cents. Sales Total revenues in the third quarter increased 6% year over year to $52.2 million....
1Apr2010 | vitalstocks | 0 comments | Continued(IGT) International Game Technology Maintains Neutral Rating
International Game Technology (IGT) holds a leadership position in slot machines. In January, the company reported adjusted earnings of 23 cents per share in the first quarter of 2010, beating the Zacks Consensus Estimate of 20 cents a share. This was due to increased cost cutting...
1Apr2010 | vitalstocks | 0 comments | Continued(T) AT&T Expands Footprint of U-verse Internet
AT&T (T) has reportedly expanded the footprint of its U-verse high-speed Internet access services to cover all its U-verse markets. The carrier’s “Max Turbo” high-speed Internet services are now available in 120 markets across 22 states. AT&T broadened its U-verse...
1Apr2010 | vitalstocks | 0 comments | Continued(FSIN) Fushi Copperweld Incorporated – Earnings Surprised By 25.9% for the Fourth Quarter
Fushi Copperweld, Inc. (FSIN) saw sales rebound in the fourth quarter on China’s continuing growth. The stock is cheap, trading at just 9.3x forward earnings. Company Description Fushi Copperweld is a Chinese-based manufacturer of copper-cladded bi-metallic engineered conductor...
1Apr2010 | vitalstocks | 0 comments | Continued(TII) Telmex Internacional – Earnings Estimates Climbing Higher
Telmex Internacional (TII) shares are trading about 24x consensus estimates for 2010 and 18x consensus EPS estimates for 2011. At first blush, those P/E multiples look pricey. However, this Zacks Rank #1 stock has an expected long-term EPS growth rate of 21.8%, which makes its...
1Apr2010 | vitalstocks | 0 comments | Continued(KGC) Kinross Gold and Barrick Gold Strike Deal
Canadian gold mining company Kinross Gold Corporation (KGC) has sold its 25% interest in the Cerro Casale project in Chile to larger rival Barrick Gold Corporation (ABX) as announced on February 17, 2010. With a 75% interest, Barrick now has control over one of the world’s...
1Apr2010 | vitalstocks | 0 comments | Continued(BLUD) Immucor Third Quarter Earnings Meets Consensus Estimates
Immucor Inc. (BLUD) announced third quarter 2010 (ending in Feb 2010) earnings per share (EPS) of 28 cents, in line with the Zacks Consensus Estimate and a penny higher than the year ago quarter. Net income for the quarter was $20.1 million, compared with $19.5 million for the...
1Apr2010 | vitalstocks | 0 comments | Continued(LRY) Liberty Property Trust Signs Lease with Inmark
Liberty Property Trust (LRY), a leading real estate investment trust (REIT), has recently signed a long-term lease agreement for 24,000 square feet of space at Eagle Hill Business Park, a multi-tenant warehouse park in North Carolina. The deal was signed with Inmark Inc., a leading...
1Apr2010 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell Starts Up Perdido Project
Energy major Royal Dutch Shell Plc. (RDSA) announced first production from its massive Perdido platform in the Gulf of Mexico following more than a decade of work. The $3 billion development, which boasts of several industry firsts, lies in about 8,000 feet of water about 200...
1Apr2010 | vitalstocks | 0 comments | Continued(PEG) Public Service Enterprise Group Refunding Debt
Public Service Enterprise Group Inc. (PEG) has announced refunding $250 million of its outstanding $800 million senior notes at a lower coupon rate while deferring the maturity date. PSEG Power LLC, a wholly-owned subsidiary of Public Service Enterprise commenced an offer to...
1Apr2010 | vitalstocks | 0 comments | Continued(MU) Micron Technology Beats Expectations – Estimates Up
Micron Technology (MU), one of the largest memory companies, reported second quarter of fiscal year 2010 earnings that beat the Zacks Consensus Estimate by 14 cents. Revenue beat the Consensus by 7.7%. Shares advanced 2.89% in response to the positive news, beating the S&P...
1Apr2010 | vitalstocks | 0 comments | Continued(M) Macy’s Enters Agreement with American Express Credit Cards
Macy’s Inc. (M), one of the leading department store retailers in the United States, recently entered into an agreement to co-brand its Macy’s and Bloomingdale’s credit cards with American Express (AXP), thereby announcing an end to the branding deal with Visa Inc. (V). The...
1Apr2010 | vitalstocks | 0 comments | Continued(OMN) OMNOVA Solutions Incorporated – Beat Estimates by 80%
OMNOVA Solutions Inc. (OMN) just topped earnings projections, sending shares to a new 52-week high. Company Description OMNOVA Solutions makes emulsion polymers and other specialty chemicals that have decorative and functional uses. The company serves commercial, industrial and...
1Apr2010 | vitalstocks | 0 comments | Continued(RIMM) Research In Motion Misses Expectations – Outlook Strong
Yesterday after market close, Research In Motion Ltd. (RIMM) declared its fourth quarter fiscal 2010 financial results, which were below the Zacks Consensus Estimate. Consequently, its stock price was down $3.42 (4.62%) to $70.55 in after-market trade on Nasdaq. Nevertheless,...
1Apr2010 | vitalstocks | 0 comments | Continued(CHT) Chunghwa Telecom Beats Consensus Estimates
Chunghwa Telecom Co. Ltd. (CHT) has declared fourth quarter 2009 financial results. Quarterly total revenue was $1,584 million, up 2.6% year-over-year. This was also better than the Zacks Consensus Estimate of $1,540 million. Despite facing increased competition and an extremely...
1Apr2010 | vitalstocks | 0 comments | Continued(HOT) Starwood Hotels – Bull of the Day
We are upgrading our recommendation on Starwood Hotels & Resorts Worldwide (HOT) to Outperform. The company’s fourth quarter operating earnings were well ahead of the Zacks Consensus Estimate, primarily driven by better-than-expected revenue. Though the company continued...
1Apr2010 | vitalstocks | 0 comments | Continued(DE) Deere & Company – Analysts Have Been Raising Estimates
Deere & Co. (DE) continues to pressure its 52-week high at $62.08 on rising estimates and a bullish next-year growth projection. Company Description Deere & Co. provides products and services for agriculture and forestry worldwide. The company was founded in 1837 and...
1Apr2010 | vitalstocks | 0 comments | Continued(ADP) U.S. Initial Jobless Claims Still Falling
Initial claims for unemployment insurance fell by 6,000 last week to 439,000. Since last week’s numbers were revised slightly higher from 442,000 to 445,000, one could also argue that the decline was really 3,000. In either case it is a moderate decline, and one that is...
1Apr2010 | vitalstocks | 0 comments | Continued(CBST) Cubist Pharmaceuticals Ends Drug Trial
Cubist Pharmaceuticals Inc. (CBST) has stopped a mid-stage trial of one of its pipeline candidates, CB-500,929 (ecallantide). The drug was being studied for lowering blood loss in patients undergoing cardiac surgery using cardiopulmonary bypass (CPB). The decision to stop the...
1Apr2010 | vitalstocks | 0 comments | Continued(CKR) CKE Restaurants’ Sales Decline
CKE Restaurants Inc. (CKR), the quick-service restaurant operator, recently posted dismal sales results at its company-owned locations for the four-week period ended March 22, 2010. The sluggish economic environment, heavy job losses and raging discount wars among fast-food chains...
1Apr2010 | vitalstocks | 0 comments | Continued