Archive for May, 2010
(MYGN) Myriad Genetics – Bear of the Day
Myriad Genetics Inc.’s (MYGN) third quarter fiscal 2010 earnings of $0.33 per share fell short of the Zacks Consensus Estimate by $0.05. The company had earned $0.38 per share in the year-ago period. Myriad Genetics spun off its therapeutics business in July 2009 to focus...
23May2010 | vitalstocks | 0 comments | Continued(AIG) Prudential PLC Declares Rights Issue to Purchase Unit From American International Group
In order to partly finance its $35.5 billion deal to purchase the Asian life-insurance business AIA Group from American International Group Inc. (AIG), Prudential PLC (PUK) finally announced the details of its previously announced rights issue to raise $20.9 billion (£14.5 billion). At...
23May2010 | vitalstocks | 0 comments | Continued(HGSI) Human Genome Sciences’ Earnings Scorecard
Human Genome Sciences, Inc.’s (HGSI) first quarter 2010 net loss of 26 cents per share was wider than the Zacks Consensus Estimate of a loss of 20 cents. The company earned 56 cents in the year-ago quarter. We believe that the earnings report at Human Genome is a non-event....
23May2010 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell to Sell Syrian Unit Stake
Energy major Royal Dutch Shell Plc. (RDSA) has agreed to sell 35% interest in its Syrian oil and gas unit to China National Petroleum Corporation (also known as CNPC), a state-owned entity. As per the 20-year deal, estimated to be worth around $1.5 billion, CNPC will buy stake...
23May2010 | vitalstocks | 0 comments | Continued(DOW) Dow Chemical Company Invests in China
The Dow Chemical Co. (DOW) through its global business unit, Dow Coating Material, is investing in a new emulsion plant in China. Dow is expanding operations in China by constructing a new $17 million emulsion plant at the company’s Zhangjiagang site in the eastern Chinese...
23May2010 | vitalstocks | 0 comments | Continued(ZOLL) ZOLL Medical Corporation Analyst Upgrades to Outperform
Recently, we upgraded ZOLL Medical Corporation (ZOLL) to Outperform from Neutral with a price target of $38 primarily driven by the better-than-expected second quarter fiscal 2010 results as released on April 29, 2010. ZOLL Medical Corporation surpassed the Zacks Consensus Estimate...
23May2010 | vitalstocks | 0 comments | Continued(ORLY) O’Reilly Automotive – Same-Store Sales Up 6.9%
O’Reilly Automotive, Inc. (ORLY) just hit a new all-time high at $50.09 after jumping higher in late April on a 20% Q1 earnings surprise. Estimates are on rising for this Zacks #1 rank stock, with the next year projecting 15% earnings growth. Company Description O’Reilly...
23May2010 | vitalstocks | 0 comments | Continued(PETM) PetSmart First Quarter 2010 Earnings Beat Estimates
First-quarter 2010 earnings per share (EPS) of PetSmart, Inc. (PETM) jumped 24% year over year to $0.46, exceeding the Zacks Consensus Estimate of $0.43 per share, driven by a blend of better-than-expected comparable store sales (comps) and gross margin. Net income was $55.6...
23May2010 | vitalstocks | 0 comments | Continued(NXY) Nexen to Sell Oil Assets in Western Canada to Northern Blizzard Resources
Nexen Inc. (NXY) intends to sell non-core heavy oil properties in Western Canada to Northern Blizzard Resources Inc. The consideration for this transaction is approximately $975 million, before some adjustments. The properties in the question had proved reserves of 39 million...
23May2010 | vitalstocks | 0 comments | Continued(COP) ConocoPhillips and Australian Partner Karoon Gas Drills Well in Australia
ConocoPhillips (COP) and its Australian partner Karoon Gas have been jointly conducting a drilling program on the Kronos-1 exploration well in the Browse Basin off the coast of Australia. Kronos-1 is located in the Poseidon gas field. ConocoPhillips serves as the operator in...
23May2010 | vitalstocks | 0 comments | Continued(LH) LabCorp First Quarter 2010 Earnings Scorecard
First Quarter Highlights On April 21, LabCorp (LH) reported first quarter fiscal 2010 earnings per share (EPS) of $1.25 compared with earnings of $1.22 in the year-ago period. However, after considering restructuring and other special charges, the company’s EPS came in at $1.30,...
23May2010 | vitalstocks | 0 comments | Continued(ZOLL) ZOLL Medical Earnings Scorecard
Following the release of second quarter fiscal 2010 (ended April 4, 2010) results on April 29, 2010, majority of the analysts covering ZOLL Medical Corporation (ZOLL) have made upward revisions to their 2010 and 2011 annual estimates. The company performed impressively in the...
23May2010 | vitalstocks | 0 comments | Continued(SE) Spectra Energy Reports Earnings Above Expectations
Despite better-than-expected first quarter results, shares of Spectra Energy Corporation (SE) have tumbled more than 15% since its announcement of the quarterly results. While the current unfavorable sentiment on commodity prices are the main reasons behind this fall, the company...
23May2010 | vitalstocks | 0 comments | Continued(SPG) Simon Property Group First Quarter 2010 Earnings Scorecard
Simon Property Group Inc. (SPG), a leading real estate investment trust (REIT), reported fiscal 2010 first quarter recurring FFO (funds from operations) of $1.41 per share that well exceeded the Zacks Consensus Estimate of $0.83. Funds from operations, a widely used metric to...
23May2010 | vitalstocks | 0 comments | Continued(RAVN) Raven Industries’ Earnings Report Soars Past Consensus
Raven Industries Inc. (RAVN) delivered a net income of $12.9 million, or 72 cents per share in its first quarter, ended April 30, 2010, up from $9.2 million or 51 cents per share in the year-ago period. The company exceeded the Zacks Consensus estimate of 52 cents. The earnings...
23May2010 | vitalstocks | 0 comments | Continued(PX) Praxair Second Quarter 2010 Earnings Scorecard
The overall sentiment for Praxair (PX) shares has been positive following its earnings release late last month, fueled largely by improving global business fundamentals and management’s robust guidance. The company forecasted second-quarter 2010 earnings of $1.10-$1.15 and...
23May2010 | vitalstocks | 0 comments | Continued(GPS) Gap’s Fiscal 2010 First-Quarter Earnings Beat – Lifts Outlook
Gap Inc. (GPS) reported fiscal 2010 first-quarter earnings of 45 cents per share after the closing bell on Thursday. The result topped both the Zacks Consensus Estimate of 43 cents and the year-ago earnings of 31 cents per share. The strong performance was primarily driven higher...
23May2010 | vitalstocks | 0 comments | Continued(INTU) Intuit’s Third Quarter 2010 Results Beat – Raises Outlook
Excluding one-time items, but including stock-based compensation expenses, Intuit Inc. (INTU) reported earnings for the third quarter of fiscal year 2010, which were up 13.7% from the year-ago quarter. The results were encouraging, as earnings surpassed the Zacks Consensus Estimate...
23May2010 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell Has Target Price of $55
We are maintaining our Neutral recommendation on Royal Dutch Shell Plc. (RDSA) with a target price of $55. In terms of assets, Royal Dutch Shell owns a strong and diversified portfolio of global energy businesses that offers attractive long-term growth opportunities. The group’s...
23May2010 | vitalstocks | 0 comments | Continued(TM) Toyota Motors Invests to Reopen New United Motor Manufacturing Plant
Toyota Motors Corp. (TM) will invest $50 million in a partnership with California-based electric vehicles maker Tesla Motors Inc. that will reopen the New United Motor Manufacturing Inc. (NUMMI) plant in Fremont, California. The NUMMI plant was closed down by Toyota on April...
23May2010 | vitalstocks | 0 comments | Continued(EXEL) Exelixis Presents Positive Drug Trial Data
Recently, Exelixis Pharma (EXEL) presented positive data from a mid-stage trial of its lead candidate, XL184. The drug, which is being co-developed with Bristol-Myers Squibb (BMY), is currently undergoing multiple clinical studies for several indications. XL184 is being studied...
23May2010 | vitalstocks | 0 comments | Continued(PGR) Progressive’s Earnings Report Disappoints
Progressive Corporation’s (PGR) net income for April 2010 came in at $111.1 million, down 4% from $116.2 million recorded in the comparable year-ago period. Income for the reported month was also down by 12% from $126.3 million reported in March 2010. However, earnings per...
23May2010 | vitalstocks | 0 comments | Continued(HAL) Halliburton First Quarter 2010 Earnings Scorecard
Last month, Halliburton Co. (HAL) – one of the largest oilfield service providers in the world – announced its financial results for the first quarter ended March 31, 2010. Now that the Wall Street analysts have had some time to digest the quarterly performance of Halliburton,...
23May2010 | vitalstocks | 0 comments | Continued(AES) AES Corporation Reduces Debt
AES Corp. (AES) completed the redemption of $400 million of its outstanding Senior Secured Notes. The notes which have a coupon rate of 8.75% were originally due in 2013. The Notes were redeemed at a premium on a pro rata basis at a price equal to 101.46% of the principal amount....
23May2010 | vitalstocks | 0 comments | Continued(IPG) Interpublic Group Analyst Remains Neutral
Interpublic Group of Companies, Inc. (IPG), the third-largest advertising company in the world continues to look for strategic investments that will help it to capitalize on emerging markets. In 2007, the company made investments in India and Brazil, further strengthening its...
23May2010 | vitalstocks | 0 comments | Continued(COP) Why Now Is The Time To Buy Oil Stocks
This name seems cheap on a production and reserves basis In late March, I pointed to the extreme reading in the oil-to-natural gas ratio and told you natural gas was ridiculously cheap. Back then, oil was trading for around $80 a barrel… and natural gas was under $4 per million...
23May2010 | InvestmentU | 0 comments | Continued(MA) MasterCard Settles Lawsuit with Heartland Payment Systems
On May 19, MasterCard Inc. (MA) announced that it has reached a settlement with Heartland Payment System, whereby all disputes regarding breach of data security has been settled between both the parties along with the MasterCard’s card issuers. Consequently, the settlement...
23May2010 | vitalstocks | 0 comments | Continued(VRSN) VeriSign Sells Business Unit to Symantec Corporation
VeriSign Inc. (VRSN) recently announced that it would sell its Authentication Services business to Symantec Corp. (SYMC) for approximately $1.28 billion in cash. The Authentication Services business includes Secure Sockets Layer (SSL) encryption certification services, the managed...
23May2010 | vitalstocks | 0 comments | Continued(AA) Kaiser Aluminum – Semi-Fabricated Specialty Aluminum Products
There are 349 companies on our watch list from the Basic Industries Segment of the U.S. economy. Admittedly we have no clue what the vast majority of any of the 2600 companies on our watch list actually do. What we do know is that every Saturday morning, we click a button and...
23May2010 | Wax | 0 comments | ContinuedConference Board’s Leading Economic Index Contributes to Investor Confidence Crumble
” Investor Confidence Crumbles” was the headline on my morning read in the Financial Times this morning. My first thought was: Is just confidence down? What about the economy? My yardstick for measuring the economy is the monthly report for the Conference Board’s...
23May2010 | Shawn | 0 comments | Continued