Archive for July, 2010
(GS) Goldman Sachs Group Agrees to Pay Fine
On Thursday, The Goldman Sachs Group Inc. (GS) announced that it would pay $550 million to the Securities and Exchange Commission (SEC) to settle a civil fraud suit linked to mortgage investments, which was filed in April. The SEC had alleged that Goldman sold mortgage-related...
16Jul2010 | vitalstocks | 0 comments | Continued(PEP) PepsiCo Second Quarter 2010 Earnings Preview
Pepsico Inc. (PEP) is scheduled to release its second-quarter 2010 results on Tuesday, July 20. The Zacks Consensus Estimate for the company is $1.09 a share. First Quarter Performance Pepsico Inc. reported strong first quarter results with earnings of 89 cents per share. This...
16Jul2010 | vitalstocks | 0 comments | Continued(LLL) L-3 Communications Holdings Announces Plan to Buyback Shares
L-3 Communications Holdings Inc. (LLL) authorized a new share repurchase program to buy back up to $1 billion of the company’s common stock through Dec 31, 2012. This new share repurchase authorization is effective immediately. L-3 Communications’ focus on buyback is evident...
16Jul2010 | vitalstocks | 0 comments | Continued(BA) Boeing Provides 20-Year Aerospace and Defense Outlook
Defense and Aerospace manufacturer Boeing Company (BA) released its 2010 Current Market Outlook (CMO) estimating a $3.6 trillion market for new commercial airplanes in the next 20 years. Boeing’s projection of growth is based on the recovery witnessed in world economies and...
16Jul2010 | vitalstocks | 0 comments | Continued(SCHW) Charles Schwab Second Quarter Earnings Slightly Ahead of Estimates
Charles Schwab Corporation‘s (SCHW) second-quarter earnings came in at 17 cents per share, slightly ahead of the Zacks Consensus Estimate of 15 cents. However, the result was a penny below last year’s 18 cents. Net revenue was $1,080 million, an increase of 10% compared...
16Jul2010 | vitalstocks | 0 comments | Continued(BP) BP’s Current Well Cap Tests Successfully
In an initial phase of testing, BP Plc (BP) has successfully checked the leakage at its Deepwater Horizon rig that exploded and sank in April. The sealing of the leakage comes as a much-awaited milestone in controlling one of the nation’s worst environmental disasters. On...
16Jul2010 | vitalstocks | 0 comments | Continued(C) Citigroup Posts Second Quarter Profit Ahead of Estimates
Citigroup Inc. (C) reported second quarter earnings of 9 cents per share, ahead of the Zacks Consensus Estimate of 5 cents. However, the results were below the prior quarter earnings of 14 cents and the year-ago quarter’s earnings of 51 cents. Results reflect an improvement...
16Jul2010 | vitalstocks | 0 comments | Continued(BP) U.S. June Factory Output Falls 0.4%
In June, total industrial production inched up by 0.1% from May and was up 8.2% from a year earlier. However, that is the output not just of the nation’s factories, but of its mines and utilities as well. Hotter-than-normal weather drove a big increase in utility output...
15Jul2010 | vitalstocks | 0 comments | Continued(HPQ) Global PC Computer Shipments Above Expectations
As per the latest findings of the market research firm IDC, global PC shipments in the second quarter 2010 went up 22.4% year over year, while another research firm, Gartner, calculated growth to be 20.7%. IDC pointed out that the surge in sales was primarily due to the large...
15Jul2010 | vitalstocks | 0 comments | Continued(JPM) JPMorgan Chase & Company Powers Ahead
JPMorgan Chase & Company’s (JPM) second quarter earnings came in at $1.09 per share, substantially ahead of the Zacks Consensus Estimate of 71 cents. The results also soared from the earnings of 28 cents in the prior-year quarter. The very impressive results were primarily...
15Jul2010 | vitalstocks | 0 comments | Continued(WMT) U.S. Initial Jobless Claims Plunge
Initial Claims for Unemployment Insurance fell by 29,000, the second large drop in as many weeks, to 429,000. Relative to a year ago, they are down 20.2% and are 34% below peak levels. On a week-to-week basis, initial claims can be very noisy and volatile, so it makes sense to...
15Jul2010 | vitalstocks | 0 comments | Continued(AMMD) American Medical Systems Announces Positive Data for MiniArc
Leading pelvic-health device provider American Medical Systems (AMMD) has announced encouraging clinical trial results for its MiniArc single-incision sling system as a first-line treatment for female stress urinary incontinence (SUI). The company has published the positive data...
15Jul2010 | vitalstocks | 0 comments | Continued(V) Visa to Increase Stake in Monitise
Visa Inc. (V) has announced that it will increase its stake in London-based Monitise plc to 14.4% by investing £6.6 million. British mobile banking and payments service provider Monitise is planning to raise a total of £32.4 million. Out of this, £26.6 million will be collected...
15Jul2010 | vitalstocks | 0 comments | Continued(C) Citigroup Announces Private Equity Unit Sale
As part of its restructuring efforts, Citigroup Inc. (C) has announced that it is divesting its private equity fund of funds, mezzanine and co-investment businesses to StepStone Group LLC and Lexington Partners. Under the terms of the agreement, Lexington is acquiring Citi’s...
15Jul2010 | vitalstocks | 0 comments | Continued(AA) Alcoa Second Quarter 2010 Earnings Scorecard
Shares of aluminum giant Alcoa Inc. (AA) advanced 3% after the company reported results for the second quarter of 2010, reversing the trend of consistent decline in the share price since its first quarter 2010 results. Quarterly Review Alcoa recorded second quarter 2010 net earnings...
15Jul2010 | vitalstocks | 0 comments | Continued(C) Citigroup Second Quarter 2010 Earnings Preview
Citigroup Inc. (C) is scheduled to report its second quarter 2010 results before the market opens on Friday, July 16. The Zacks Consensus Estimate for the second quarter is 5 cents per share. Ahead of the earnings release, analysts have made downward estimate revisions. Though...
15Jul2010 | vitalstocks | 0 comments | Continued(HOG) Harley-Davidson Second Quarter 2010 Earnings Preview
Harley-Davidson Inc. (HOG) announced that it would release its results for the second quarter of 2010 before the market opens on July 20, 2010. The Milwaukee-based motorcycle maker posted a profit of 29 cents per share in the first quarter of 2010, overriding the Zacks Consensus...
15Jul2010 | vitalstocks | 0 comments | Continued(UIS) Unisys Analyst Downgrades the Stock to Underperform
Last year was challenging for information technology (IT) company Unisys Corp. (UIS) amidst the acute recessionary environment. The economic downturn has adversely impacted technology spending. Global IT spending declined significantly in 2009. The credit crunch greatly impacted...
15Jul2010 | vitalstocks | 0 comments | Continued(BP) BP to Sell Cushing Oil Storage
BP Plc (BP) plans to sell some storage and pipeline assets to Magellan Midstream Partners LP (MMP) for $339 million Incorporatedluding $50 million of BP’s existing inventory. The agreement allows BP to lease back the storage space of 7.8 million barrels of crude oil at Cushing,...
15Jul2010 | vitalstocks | 0 comments | Continued15 Jul 2010: AAII Sentiment Survey: Bullish Sentiment Rebounds
Bullish sentiment, expectations that stocks will rise over the next six months, rebounded to a four-week high in the latest AAII Sentiment Survey. Optimism rose 18.4 percentage points to 39.4%. The historical average is 39%. Neutral sentiment, expectations that stock...
15Jul2010 | vitalstocks | 0 comments | Continued(CYTX) Cytori Therapeutics – Bull of the Day
We continue to be very positive on Cytori Therapeutics (CYTX) and believe the company’s Celution System, a better mousetrap for quickly and efficiently harvesting adult stem cells, will see sales ramp significantly over the next few years. Sales of the system have been...
15Jul2010 | vitalstocks | 0 comments | Continued(ERJ) Empresa Brasileira de Aeronautica S.A. – ADR – Bear of the Day
The international economic environment remains an issue for aircraft manufacturer Empresa Brasileira de Aeronautica S.A., or Embraer (ERJ), considering the company’s exposure to the U.S. and European markets. Moreover, the company’s high dependence on some models,...
15Jul2010 | vitalstocks | 0 comments | Continued(BAX) Baxter International to Recall Infusion Pumps
Medical product giant Baxter International Inc. (BAX) has decided to recall all of its Colleague infusion pumps in the U.S. over the next two years. The decision is based on the final order of the U.S. Food and Drug Administration (FDA). Baxter will either offer the Colleague...
15Jul2010 | vitalstocks | 0 comments | Continued(MAR) Marriott International’s Earnings Beat – Outlook Positive
Marriott International Inc. (MAR) reported second quarter 2010 earnings of 31 cents per share, ahead of the Zacks Consensus Estimate of 28 cents. Earnings were also well above the company’s guidance of 25 cents to 29 cents per share and recorded a substantial increase of 35%...
15Jul2010 | vitalstocks | 0 comments | Continued(VVUS) FDA to Review Vivus Drug
The US Food and Drug Administration (FDA) recently posted briefing documents on its website ahead of the review of Vivus’ (VVUS) obesity drug Qnexa by the FDA’s Endocrinologic & Metabolic Drugs Advisory Committee. While the FDA said that all three doses of Qnexa were...
14Jul2010 | vitalstocks | 0 comments | Continued(ERTS) Electronic Arts Unveils Limited Medal of Honor
Video game manufacturer and publisher Electronic Arts Inc. (ERTS) announced to launch the Medal of Honor limited version. Medal of Honor limited version allows players to access MP7 pistol that can be operated as a rifle in the battle field. The limited version also provides...
14Jul2010 | vitalstocks | 0 comments | Continued(DELL) Dell to Partner with Microsoft
The third-largest PC maker in the world Dell Inc. (DELL) recently announced that it will partner with another tech giant Microsoft Corp. (MSFT). The strategic partnership, which was announced at Microsoft’s Worldwide Partner Conference, will allow Dell to use Windows Azure...
14Jul2010 | vitalstocks | 0 comments | Continued(LMT) Lockheed Martin Gets $5 Billion Contract
Lockheed Martin Corp. (LMT) won a contract from the U.S. Special Operations Command to provide full-scope logistics support to warfighters around the globe. The company will provide a wide range of mission-critical services, from aircraft and vehicle maintenance to IT and electronics...
14Jul2010 | vitalstocks | 0 comments | Continued(HPQ) Hewlett-Packard Announces Aquisition of Motionbox
The world’s largest personal computer and server manufacturer Hewlett-Packard Company (HPQ) purchased the video sharing site Motionbox, through its HP Snapfish arm. HP Snapfish is currently involved in the provision of online photo storage services. The unit is trying to make...
14Jul2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Plans to Sell Japanese Units
The troubled insurer, American International Group (AIG), is planning to sell its two Japanese life insurance units – AIG Star Life Insurance Co. and AIG Edison Life Insurance Co. – The Wall Street Journal reported on Thursday. The combined sale could fetch proceeds of about...
14Jul2010 | vitalstocks | 0 comments | Continued