Archive for April, 2010
(ARRY) Array BioPharma and Novartis AG Sign Deal for Treating Cancer
Recently, Array BioPharma Inc. (ARRY) struck a deal with Novartis AG (NVS) to develop its small-molecule methyl ethyl ketone (MEK) inhibitors for treating cancer. The transaction is worth up to $467 million. Array is entitled to receive $45 million in upfront and milestone payments...
22Apr2010 | vitalstocks | 0 comments | Continued(PCL) U.S. Existing Home Sales Rise in March
Existing Home Sales rose 6.8% in March to a seasonally adjusted annual rate of 5.35 million. That rate is 16.1% higher than the 4.61 million rate of a year ago. The number was slightly better than the consensus expectations of a 5.29 million annual rate. Existing homes sales...
22Apr2010 | vitalstocks | 0 comments | Continued(AN) AutoNation’s Earnings Report Matches Expectations
AutoNation (AN) showed a 55% increase in profits to $58 million or 34 cents per share in the first quarter of 2010 from $40 million or 22 cents per share in the prior-year quarter. With this, the automotive retailer has met the Zacks Consensus Estimate exactly. Revenues in the...
22Apr2010 | vitalstocks | 0 comments | Continued(PALM) AAII Investor Update: Don’t Buy What You Can’t Value
April 15, 2010 The financial markets always seem to do something that causes me to shake my head and chuckle. This week it involved smart phone maker Palm (PALM). Shares of the stock jumped on reports that the company has put itself up for sale and is working with investment...
22Apr2010 | Shawn | 0 comments | Continued(ZMH) Zimmer Holdings’ Earnings Outperform by a Penny
Zimmer Holdings, Inc. (ZMH) reported first quarter fiscal 2010 earnings per share of $1.02, beating the Zacks Consensus Estimate of $1.01 and the year-ago earnings of 95 cents. Sales Total revenues in the first quarter increased 7.1% year over year to $1,062.8 million. Excluding...
22Apr2010 | vitalstocks | 0 comments | Continued(FCX) Freeport-McMoRan Copper & Gold Net Income Shoots Up
Freeport-McMoRan Copper & Gold Inc. (FCX) reported net income of $897 million or $2.00 per share in the first quarter of 2010, beating the Zacks Consensus Estimate of $1.92 per share. Earnings improved significantly from a modest net income of $43 million, $0.11 per share...
22Apr2010 | vitalstocks | 0 comments | Continued(KEY) KeyCorp’s First Quarter Loss Shrinks
KeyCorp’s (KEY) first quarter loss from continuing operations of 11 cents per share was substantially better than the Zacks Consensus Estimate of a loss of 29 cents. This also compares favorably with a net loss from continuing operations of $1.03 in the prior-year quarter. Results...
22Apr2010 | vitalstocks | 0 comments | Continued(DEO) Diageo Plc – ADR- Bear of the Day
We are downgrading our recommendation on Diageo Plc. (DEO) to Underperform from Neutral as we anticipate it to perform well below the broader market. The global economic downturn has negatively impacted demand for Diageo’s premium offerings, thereby affecting both top-...
22Apr2010 | vitalstocks | 0 comments | Continued(MCHP) Microchip Technologies – Bull of the Day
Microchip Technologies (MCHP) recently increased its guidance for Q4:FY10 driven by increased demand from customers in Asia and Europe. In particular, China continues to be strong after the New Year while Europe is expected to exceed seasonally strong March quarter results. The...
22Apr2010 | vitalstocks | 0 comments | Continued(ANDE) The Andersons Incorporated – Big Earnings Beat in the Fourth Quarter
The Andersons, Inc. (ANDE) has been riding the ups and downs of the grain and fertilizer markets over the past 2 years but with the global economy poised for recovery, so are the Andersons’ business segments. The Andersons is a value stock, with a price-to-book ratio of...
22Apr2010 | vitalstocks | 0 comments | Continued(ARW) Arrow Electronics – Upward Earnings Revisions and New Deals
Arrow Electronics (ARW) analysts continue to raise estimates as the company signs new deals and grows through acquisition. The Zacks Rank #1 is expected to see earnings rise more that 50% this year alone. Company Description Arrow Electronics makes and services industrial and...
22Apr2010 | vitalstocks | 0 comments | Continued(MCHP) Microchip Technology – Earnings Estimates Holding Steady
Microchip Technology (MCHP) has a Zacks #2 Rank. Its stock trades at 27.3x fiscal 2010 consensus EPS estimates and 18.8x fiscal 2011 consensus EPS estimates. Income and Growth The stock offers investors a dividend yield of 4.6%. That’s right a technology stock that not...
22Apr2010 | vitalstocks | 0 comments | Continued(CMG) Chipotle Mexican Grill Report Outpaces Consensus Estimate
Chipotle Mexican Grill, Inc. (CMG) recently posted robust first-quarter 2010 results that topped the Zacks Consensus expectation on the heels of strong top-line growth buoyed by higher traffic count and new restaurant openings, sending the stock up $5.80 or 4.6% to $132.55 in...
22Apr2010 | vitalstocks | 0 comments | Continued(QCOM) Qualcomm Second Quarter 2010 Report Beats – Outlook Remains Weak
Qualcomm Inc. (QCOM) has reported financial results for its second quarter of fiscal 2010. Although the second quarter results have outperformed, the ongoing third quarter fiscal 2010 estimates barely meet the Zacks consensus estimates. Management has cited increasing competition...
22Apr2010 | vitalstocks | 0 comments | Continued(NOK) Nokia Misses Earnings Consensus in First Quarter
Nokia Corp. (NOK), the largest mobile phone manufacturer of the world, declared first quarter 2010 financial results. Quarterly net revenue was approximately $12,817 million, up 3% year-over-year but significantly below the Zacks Consensus Estimate of $13,511 million. This was...
22Apr2010 | vitalstocks | 0 comments | Continued(R) Ryder System’s First Quarter Earnings Cruise Forward
Ryder System Inc’s (R) first quarter earnings of 24 cents per share were ahead of the Zacks Consensus Estimate of 20 cents. The company reported earnings of 30 cents per share in the year-ago quarter. Earnings exceeded the top range of management’s earnings expectations of...
22Apr2010 | vitalstocks | 0 comments | Continued(TSS) Total Systems Services Beats Expectations – Raises Outlook
On April 20, Total System Services Inc. (TSS) reported first quarter operating net income of $51.8 million or 26 cents per share as opposed to $50.3 million or 26 cents per share in the year-ago quarter. The earnings were well ahead of the Zacks Consensus Estimate of 23 cents...
22Apr2010 | vitalstocks | 0 comments | Continued(PLCM) Polycom GAAP Delivers in First Quarter
Yesterday, after market closed, Polycom Inc. (PLCM) declared its first quarter 2010 financial results. GAAP net income for the first quarter was $5.4 million or 6 cents per share compared with a net income of $8 million or 10 cents per share in the prior-year quarter. However,...
22Apr2010 | vitalstocks | 0 comments | Continued(CTXS) Citrix Systems’ Earnings Report Outperforms
Citrix Systems Inc. (CTXS) has declared its financial results for the first quarter of 2010. GAAP net income in the reported quarter was $47 million or 25 cents per share compared to a net income of $7 million or 4 cents per share in the prior-year quarter. However, adjusted...
22Apr2010 | vitalstocks | 0 comments | Continued(GSK) GlaxoSmithKline Earns Conditional Approval for Leukemia Drug
Recently, GlaxoSmithKline (GSK) and Denmark-based Genmab AS received a conditional marketing authorization for Arzerra (ofatumumab) from the European Commission. The drug, a monoclonal antibody, is indicated for patients with chronic lymphocytic leukemia (CLL), a cancer of the...
22Apr2010 | vitalstocks | 0 comments | Continued(MO) Altria Group Narrowly Misses Projections
Altria Group Inc. (MO) has reported strong first quarter 2010 results with earnings of $0.39 per share, up 39.3% compared to the year-earlier quarter. Adjusted earnings, however, marginally missed the Zacks Consensus Estimate by a penny. Profits were primarily driven by the company’s...
22Apr2010 | vitalstocks | 0 comments | Continued(DAI) Daimler AG Raises Outlook
Daimler AG (DAI) has upgraded its 2010 outlook for earnings before interest and taxes (EBIT) in its Mercedes-Benz Cars and Daimler Trucks divisions. The company now anticipates an EBIT of €2.5 billion to €3 billion ($3.5 billion to $4.2 billion) in its Mercedes-Benz Cars...
22Apr2010 | vitalstocks | 0 comments | Continued(EMC) EMC Corporation Beats The Street
EMC Corporation’s (EMC) first-quarter 2010 earnings of 26 cents exceeded the Zacks Consensus Estimates of 24 cents. Revenues for the first quarter of 2010 were $3.9 billion, up 23.0% from $3.2 billion reported in the year-ago quarter. This revenue increase may be attributed...
22Apr2010 | vitalstocks | 0 comments | Continued(JNPR) Juniper Networks’ Earnings Exceed Expectations
Juniper Networks Inc. (JNPR) posted strong first quarter 2010 results, with earnings per share of 27 cents, soundly beating the Zacks Consensus EPS Estimate of 21 cents. Revenue Juniper Networks’ revenue for the first quarter rose 19.0% year-over-year to $912.6 million. The...
22Apr2010 | vitalstocks | 0 comments | Continued(HBAN) Huntington Bancshares Incorporated Beats – Posts Profit
Huntington Bancshares Incorporated (HBAN) reported a first quarter profit of $39.7 million or 1 cent a share, helped by a tax benefit of $38.2 million. Excluding the benefit, the company reported a loss of 4 cents per share, well ahead of the Zacks Consensus Estimate of a loss...
22Apr2010 | vitalstocks | 0 comments | Continued(LH) Laboratory Corporation of America Holdings Misses by a Penny
Laboratory Corporation of America Holdings (LH) reported first quarter fiscal 2010 earnings per share (EPS) of $1.25 compared to earnings of $1.22 reported in the year-ago period. However, after considering restructuring and other special charges, the company’s EPS came in...
22Apr2010 | vitalstocks | 0 comments | Continued(CREE) Cree Incorporated – Record Third-Quarter Results
Cree Inc. (CREE) recently reported better than expected Q3 results that included 78% sales growth from last year and a 10% earnings surprise. Although shares did trade lower off the news, the long-term trend is still very bullish for this Zacks #1 rank stock. Company Description Cree,...
22Apr2010 | vitalstocks | 0 comments | Continued(GS) Don’t Take Your Eyes Off The Red-Hot Chemical Sector
The financial sector may have set the current bull market rally in motion. But chemical companies have benefited more prominently, outperforming stock markets everywhere. The sector has made more than $11 billion in deals so far this year. And if Cognis is any indication,...
22Apr2010 | InvestmentU | 0 comments | Continued(JEC) Jacobs Engineering Group Wins Dutch Contracts
Recently, Jacobs Engineering Group Inc. (JEC) has won a contract from Corus Staal BV (Corus), subsidiary of Tata Steel, for providing engineering services. The service is supposed to support Corus’ new TRUST investment in a 525 MW cogeneration plant in IJmuiden, The Netherlands. Management...
22Apr2010 | vitalstocks | 0 comments | Continued(BMRN) BioMarin Pharma Announces Good News
BioMarin Pharma Inc. (BMRN) announced recently that its product Firdapse (Amifampridine phosphate) for treating Lambert Eaton Myasthenic Syndrome (LEMS) is commercially available in the European Union. While the company has launched the product in Germany and the UK subsequent...
22Apr2010 | vitalstocks | 0 comments | Continued