Archive for April, 2010
(XOM) Rising Oil Prices to Kill the Economic Recovery?
“Oil Could Give Kiss of Death to Recovery.” So blares a recent headline in the Financial Times, which highlights the fear that higher oil prices will trigger a double-dip recession. But what a difference 12 months makes. Barely a year ago, economic savants were busy claiming...
22Apr2010 | InvestmentU | 0 comments | Continued(CMA) Comerica Incorporated Posts Loss
Comerica Incorporated (CMA) reported a net loss attributable to common shareholders of $71 million or 46 cents per share. The company was expected to report a loss of 28 cents according to the Zacks Consensus Estimate. The company had incurred a loss of $62 million or 42 cents...
22Apr2010 | vitalstocks | 0 comments | Continued(STI) SunTrust Earnings Report Beats – Loss Narrows
SunTrust Bank Inc.’s (STI) first quarter operating loss of 46 cents per share beat the Zacks Consensus Estimate of a loss of 58 cents. The company had reported an identical operating loss in the year-ago quarter. The operating loss for the year-ago quarter excluded a non-cash...
22Apr2010 | vitalstocks | 0 comments | Continued(GENZ) Genzyme First Quarter Earnings Beat by a Penny
Genzyme Corporation (GENZ) reported first quarter earnings of 24 cents per share, above the Zacks Consensus Estimate of 19 cents but well below the year-ago earnings of 70 cents. With the company facing manufacturing problems from mid-2009, we were not surprised to see first...
22Apr2010 | vitalstocks | 0 comments | Continued(BAC) U.S. Initial Jobless Claims Drop
The Initial Claims for Unemployment Insurance yo-yo headed back down this week with a decline of 24,000 to 456,000. Actually, one might consider it a drop of 28,000 since last week’s numbers were revised down to 480,000 from 484,000. However, the increases in the prior...
22Apr2010 | vitalstocks | 0 comments | Continued(VZ) Verizon’s Net Earnings Decline on Hefty Charges
Verizon (VZ) has announced first-quarter 2010 results with adjusted earnings per share (EPS) of 56 cents, matching the Zacks Consensus Estimate while declining from 58 cents reported a year-ago. Adjusted EPS excludes a $962 million one-time charge associated with the recent federal...
22Apr2010 | vitalstocks | 0 comments | Continued(CTL) CenturyTel Inks Deal to Aquire Qwest Communications in $22B Merger
Rural telecom carrier CenturyTel (CTL), which now operates under the CenturyLink moniker, announced that it has forged a definitive agreement to acquire third-largest U.S. local-phone service operator Qwest Communications (Q) in an all-stock deal worth $10.6 billion. This represents...
22Apr2010 | vitalstocks | 0 comments | Continued(NVLS) Novellus Systems’ Earnings Report Tops Expectations
Novellus Systems’ (NVLS) first quarter earnings beat the Zacks consensus by $0.03. Revenue beat by 3.8%. Revenue Revenue of $276.2 million was up 13.1% sequentially, 179.3% year over year and over the high-end of the revised guidance range. This reflects continued demand from...
22Apr2010 | vitalstocks | 0 comments | Continued(AMGN) Amgen Beats Expectations – Guidance Revised to Reflect Health Care Reform Impact
Amgen (AMGN) reported first quarter earnings per share of $1.28, 5 cents above the Zacks Consensus Estimate of $1.23 and well above the year-ago earnings of $1.07. Total revenues increased 9% to $3,592 million with US and international sales increasing 7% and 16%, respectively. US...
22Apr2010 | vitalstocks | 0 comments | Continued(PCS) MetroPCS Partners With FiberTower for 4G LTE Wireless
Leading unlimited wireless carrier MetroPCS (PCS) has reportedly forged an agreement with backhaul and access services provider FiberTower Corp (FTWR). Under the pact, FiberTower will offer Ethernet-based backhaul services in select MetroPCS markets, which will provide the much-needed...
22Apr2010 | vitalstocks | 0 comments | Continued(THRX) Theravance Reports Wider Loss Than Forecast
Theravance (THRX) reported first quarter fiscal 2010 loss per share of 35 cents, 7 cents more than the Zacks Consensus Estimate and worse than the loss of 29 cents in the year-ago period. Theravance earns revenues in the form of milestone payments from its partners including...
22Apr2010 | vitalstocks | 0 comments | Continued(UNH) UnitedHealth Reports Above Consensus – 2010 Outlook Raised
UnitedHealth Group’s (UNH) first quarter 2010 earnings of $1.03 per share far exceeded the Zacks Consensus Estimate of 68 cents. This was also ahead of last year’s earnings of 81 cents. The strong showing was driven by better-than-expected membership and services growth. Total...
21Apr2010 | vitalstocks | 0 comments | Continued(MKC) McCormick & Company Analyst Coverage Initiated at Neutral
We are initiating coverage on McCormick & Co. Inc. (MKC) with a Neutral recommendation and a target price of $41.00. McCormick, founded in 1889 and based in Sparks, Maryland, is a leading manufacturer, marketer and distributor of spices, seasonings, specialty foods and flavors...
21Apr2010 | vitalstocks | 0 comments | Continued(OMC) Omnicom Group Reports Earnings Come in Flat
Omnicom Group Inc. (OMC) announced results for the first quarter of fiscal 2010. During the quarter, net income remained relatively flat at $163.4 million compared to $164.5 million in the year-ago quarter. EPS dipped by only 1 cent from 53 cents to 52 cents. Reported EPS surpassed...
21Apr2010 | vitalstocks | 0 comments | Continued(FRX) Forest Laboratories’ Earnings Report Meets – Forward Guidance Drops
Forest Laboratories, Inc. (FRX) reported earnings per share of 83 cents for the fourth quarter of fiscal 2010, in-line with the Zacks Consensus Estimate, and above the year-ago earnings of 76 cents. Full-year earnings came in at $3.51, up from fiscal 2009 earnings of $3.45. While...
21Apr2010 | vitalstocks | 0 comments | Continued(FINL) The Finish Line – Earnings Beat the Street
Finish Line (FINL) estimates saw a nice boost on the latest quarterly results. Share price is rising and the stock is also showing some solid valuations. Company Description The Finish Line, Inc. is a mall-based footwear retailer for athletic footwear, apparel and accessories....
21Apr2010 | vitalstocks | 0 comments | Continued(GILD) Gilead Sciences Beats The Street but Lowers Outlook
Gilead Sciences (GILD) reported strong first quarter fiscal 2010 results with revenues increasing 36% year-over-year to $2.09 billion. The company’s earnings per share (EPS) came in at 92 cents. However, excluding non- recurring items and treating stock-based compensation as...
21Apr2010 | vitalstocks | 0 comments | Continued(NBR) Nabors Industries’ Earnings Edge Past Estimate
Nabors Industries Ltd. (NBR) – North America’s largest onshore oil and natural gas driller – reported marginally better-than-expected first quarter results on the back of recovery in its North American business. Earnings per share, excluding one-time items, came in at 21...
21Apr2010 | vitalstocks | 0 comments | Continued(RF) Regions Financial’s Earnings Report Tops Expectations
Regions Financial Corp.’s (RF) first quarter loss came in at 21 cents per share, better than the Zacks Consensus Estimate of a loss of 27 cents. Results for the quarter improved due primarily to lower-than-expected provisions for loan losses. Last year, the company reported...
21Apr2010 | vitalstocks | 0 comments | Continued(ITW) Illinois Tool Works Turns to Profit – Beats Expectations
Illinois Tool Works Inc. (ITW) reported encouraging results for the first quarter of fiscal 2010. EPS was 58 cents, compared to a loss of 2 cents during the first quarter of fiscal 2009. EPS was slightly above the Zacks Consensus Estimate of 56 cents per share. Net income was...
21Apr2010 | vitalstocks | 0 comments | Continued(MAA) Mid-America Apartment Communities Updates Earnings Guidance
Mid-America Apartment Communities Inc. (MAA), an apartment-only real estate investment trust (REIT), has recently provided an updated first quarter 2010 earnings guidance based on strong occupancy and better-than-expected fee income. The company currently expects first quarter...
21Apr2010 | vitalstocks | 0 comments | Continued(WFT) Weatherford International Misses Expectations
Weatherford International Ltd. (WFT), a leading oilfield services company, reported weaker-than-expected first quarter 2010 recurring earnings of 6 cents per share, compared to the Zacks Consensus Estimate of 9 cents and year-ago profit of 27 cents. Unlike Weatherford, sector...
21Apr2010 | vitalstocks | 0 comments | Continued(ALTR) Altera First Quarter 2010 Tops Expectations
Altera Corp. (ALTR) reported sales of $402.3 million in the first quarter of 2010, an increase of 52% year over year and 10% sequentially. Results were at the high end of management’s guidance of $390.5 – $401.5 million for the quarter. The growth in sales was driven by new...
21Apr2010 | vitalstocks | 0 comments | Continued(CR) Crane First Quarter Earnings Posted Ahead of Expectations
Crane Co. (CR) posted first-quarter 2010 results after the closing bell on Monday. The company recorded a 43% growth in net income to $33.2 million from $23.3 million in the year-ago period. Earnings per share came in at 56 cents, which surpassed the Zacks Consensus Estimate...
21Apr2010 | vitalstocks | 0 comments | Continued(HRL) Hormel Foods Announces Plant Closure
Hormel Foods Corporation (HRL) has announced the closure of its Turlock, California plant by October 29, 2010. The plant produces VALLEY FRESH canned meats. The closure is expected to costs 5 cents per share, which will be included in the second quarter of fiscal 2010 EPS. The...
21Apr2010 | vitalstocks | 0 comments | Continued(COH) Coach Third Quarter Earnings Better Than Expected
Coach, Inc. (COH), the designer and marketer of fine accessories and gifts, recently posted better-than-expected third-quarter 2010 results, sending the stock up 57 cents or 1.4% to $42.45 in pre-market trading. Quarterly earnings of 50 cents a share outpaced the Zacks Consensus...
21Apr2010 | vitalstocks | 0 comments | Continued(ECA) EnCana Earnings Report Blows Past Estimates
EnCana Corporation (ECA) — Canada’s largest natural gas producer — reported strong first quarter results, helped by higher-than-expected volumes. Operating earnings per share, stripping out one-time items, came in at 56 cents, way ahead of the Zacks Consensus Estimate...
21Apr2010 | vitalstocks | 0 comments | Continued(UTX) United Technologies Earnings Top Expectations
United Technologies Corp. (UTX) reported first quarter 2010 earnings per share from continuing operations of 98 cents, exceeding the Zacks Consensus Estimate of 90 cents. Revenues of $12.1 billion dipped 1% year over year, reflecting organic decline (4%), mostly offset by favorable...
21Apr2010 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Reports Earnings In Line
State Street Corporation (STT) reported first quarter operating earnings of 75 cents, in line with the Zacks Consensus Estimate. However, the results were down from the prior-year quarter’s earnings of $1.04 per share. Operating results, however, basically exclude the net interest...
21Apr2010 | vitalstocks | 0 comments | Continued(BHP) China’s Hunger for Iron Ore Has Hidden Companies Set to Profit
If you read my article on April 5, you know that the iron ore market is changing… a lot. In the past, iron ore producers and steelmakers negotiated fixed, yearly prices. Now though, prices will be set in quarterly contracts linked to the spot market. That means major iron...
21Apr2010 | InvestmentU | 0 comments | Continued