Archive for August, 2010
(RRGB) Red Robin Gourmet Burgers Misses Expectations – Trims Outlook
Casual dining restaurant operator Red Robin Gourmet Burgers Inc. (RRGB) recently reported its second quarter 2010 results. Quarterly earnings of 28 cents per share missed the Zacks Consensus Estimate of 37 cents and were down 32.0% from 41 cents last year. The second quarter...
13Aug2010 | vitalstocks | 0 comments | Continued(MS) Morgan Stanley Charged by Financial Industry Regulatory Authority
On August 10, investment banking giant Morgan Stanley (MS) was accused by the Financial Industry Regulatory Authority (FINRA) for delivering independent research disclosure requirements that were not up to the required standards. As a result, the company was fined approximately...
12Aug2010 | vitalstocks | 0 comments | Continued(MOT) Motorola Second Quarter 2010 Earnings Scorecard
The struggling mobile phone manufacturer Motorola Inc. (MOT) reported strong second quarter 2010 results, beating the Zacks Consensus Estimate by 1 cent. The reported quarter’s earnings benefited from growing market traction for its 3G Android-based smartphones. Overall, the...
12Aug2010 | vitalstocks | 0 comments | Continued(F) Ford Motor Company’s Default Rating Rises to BB-
Fitch Ratings has upgraded ratings on both Ford Motor Co. (F) and its finance arm, Ford Motor Credit Co. LLC (FCZ), due to a strong performance by the company along with its debt reduction measures in the second quarter of 2010. The issuer default ratings on the company and its...
12Aug2010 | vitalstocks | 0 comments | Continued(RTN) Raytheon Wins Air Force Contract
Diversified aerospace and defense operator Raytheon Co. (RTN) announced that it received a missile contract worth $450 million from the U.S Air Force. As per the contract, Raytheon will design, engineer as well as manufacture and develop a new precision strike missile. The new...
12Aug2010 | vitalstocks | 0 comments | Continued(WYNN) Wynn Resorts Limited – Bull of the Day
We have an Outperform rating on Wynn Resorts (WYNN) as the company’s second quarter 2010 earnings were well ahead of the Zacks Consensus Estimate. They were primarily driven by better-than-expected top-line growth and improvements in the bottom line. The company set record...
12Aug2010 | vitalstocks | 0 comments | Continued(SFG) StanCorp Financial Group – Bear of the Day
We are downgrading StanCorp Financial (SFG) to Underperform from Neutral as we suspect organic growth will remain restricted in the near term, given the sluggish economic environment and challenging labor market conditions. Additionally, delinquencies on commercial mortgage loans...
12Aug2010 | vitalstocks | 0 comments | Continued(WFC) Wells Fargo Staggers on Regulations
In a recent second quarter 2010 results filing with the Securities and Exchange Commission, Wells Fargo & Co. (WFC) has reiterated its revenue loss projection based on the implementation of the legislative and regulatory initiatives such as Regulation E amendments and the...
12Aug2010 | vitalstocks | 0 comments | Continued(GS) Goldman Sachs Group Reveals Derivatives Revenue
Goldman Sachs Group Inc. (GS) has revealed that 25% to 35% of its total revenue is gained from derivatives businesses, according to a report in The Wall Street Journal. The disclosure came in response to a request by the Financial Crisis Inquiry Commission (FCIC) related to its...
11Aug2010 | vitalstocks | 0 comments | Continued(NOVL) Novell Lowers Third Quarter 2010 Revenues
A leading technology software company, Novell Inc. (NOVL) lowered its third quarter 2010 revenues and operating margin guidance, previously given out during the second quarter earnings call. Novell shares fell 19 cents, or 3.2% to $5.82 on Tuesday trading based on negative investor...
11Aug2010 | vitalstocks | 0 comments | Continued(ARRS) Arris Group Analyst Downgrades Stock to Underperform
We downgrade our recommendation for Arris Group Inc. (ARRS) to Underperform, following its disappointing second quarter 2010 financial results. Both revenues and EPS fell below the Zacks Consensus Estimates. Arris is solely dependent on cable operators for its revenues. Most...
11Aug2010 | vitalstocks | 0 comments | Continued(TJX) TJX Companies Reports July Same Store Sales Up
The TJX Companies Inc. (TJX) reported same store sales of 2% for the four week period ended July 31, 2010. This affirms the company’s positive comparable store sales growth momentum so far. Sales in the same period upped 6% to $1.5 billion from $1.4 billion in the four-week...
11Aug2010 | vitalstocks | 0 comments | Continued(WEN) Wendy’s/Arby’s Group Announces Expansion in Russia
Wendy’s/Arby’s Group, Inc. (WEN), the third largest quick-service restaurant company in the United States, has set its eyes on the Russian market for growth. The Russian market is one of the fastest growing markets; thereby enabling Wendy’s/Arby’s to benefit considerably...
11Aug2010 | vitalstocks | 0 comments | Continued(TDG) TransDigm Group Incorporated Beats Earnings Expectations
TransDigm Group Incorporated (TDG) reported third quarter earnings per share from continuing operations of 86 cents, beating the Zacks Consensus Estimate of 78 cents. Excluding non-cash compensation costs of 2 cents, adjusted earnings per share was 88 cents compared with 83 cents...
11Aug2010 | vitalstocks | 0 comments | Continued(LXK) Lexmark Guns for Hewlett-Packard’s Top Spot
by Alexander Moschina, Investment U Research Wednesday, August 11, 2010 The second quarter of 2010 brought another big leap for Lexington, KY-based Lexmark International, Inc. (NYSE: LXK). Sales were $1.03 billion, compared to revenue of $905 million a year earlier. The...
11Aug2010 | InvestmentU | 0 comments | Continued(SCHW) Charles Schwab Keeps ETFs Commission-Free
Charles Schwab Corp. (SCHW), a big player in the fast-growing exchange traded fund (ETF) market, does not intend to change its commission-free trading policy on its ETFs, Reuters reported on Tuesday. This commission-free trading along with low expense ratio-based core assets...
11Aug2010 | vitalstocks | 0 comments | Continued(GE) U.S. May 2010 Trade Deficit Jumps to $49.9 Billion
In June, the nation’s Trade Deficit jumped to $49.90 billion from $41.98 billion in May, and from just $27.14 billion a year ago. That is an 18.9% rise for the month and a 83.9% increase from a year ago. It is far worse than the expectations which were for the trade deficit...
11Aug2010 | vitalstocks | 0 comments | Continued(MOH) Molina Healthcare Prices Stock Offering
Molina Healthcare Inc. (MOH) has priced its underwritten public offering of 4 million shares at $27.00 per share. The stock offering was announced on August 4. According to the offering by Molina and the selling stockholders, the underwriters are given a month’s option to purchase...
11Aug2010 | vitalstocks | 0 comments | Continued(CAH) Cardinal Health Earnings Scorecard
Cardinal Health (CAH), one of the largest distributors of pharmaceuticals and medical supplies, recently reported earnings for fourth-quarter of fiscal year 2010, which beat the Zacks Consensus Estimate by a penny. Revenues grew by a mere 0.5% year over year to $22.3 billion....
11Aug2010 | vitalstocks | 0 comments | Continued(TDC) Teradata Earnings Scorecard
A leading provider of Enterprise Data Warehousing (EDW) solutions, Teradata Corp. (TDC) reported strong results for the second quarter 2010, beating the Zacks Consensus Estimate by 3 cents. Although Teradata’s second quarter results exceeded the Zacks Consensus Estimate, the...
11Aug2010 | vitalstocks | 0 comments | Continued(MRVL) Marvell Technology Group Joins Harman
Marvell Technology Group (MRVL), a leading provider of semiconductor appliances, recently announced that it would be teaming up with Harman International Industries Inc. (HAR) to provide the automobile industry with in-built Internet technology. This foray into the automobile...
11Aug2010 | vitalstocks | 0 comments | Continued(GS) Goldman Sachs Group Analyst Downgrades Stock to Underperform
We have downgraded our recommendation on Goldman Sachs Group Inc. (GS) to Underperform from Neutral following the company’s second quarter earnings release. Our decision is based on the negative impact of the new financial regulatory reform on the company’s business model,...
11Aug2010 | vitalstocks | 0 comments | Continued(AN) AutoNation Reports Sales Rose 5% Year-Over-Year in July
AutoNation Inc. (AN) sold 19,688 retail new vehicles last month, up 5% from July 2009. Sales rose marginally due to unfavorable comparison with the last year’s Cash for Clunkers program that generated significant demand for retail vehicles. Sales of the Domestic brands, which...
11Aug2010 | vitalstocks | 0 comments | Continued(CRA) Fannie Mae, Freddie Mac and the Federal Housing Authority Problems
The ultimate indication of a mortgage that has gone bad is when the lender forecloses and ends up owning the property. The graph below (from http://www.calculatedriskblog.com/) shows the number of properties that are in “Real Estate Owned” status (REO) by Fannie...
11Aug2010 | vitalstocks | 0 comments | Continued(UNP) Union Pacific Second Quarter 2010 Earnings Scorecard
Railroad giant Union Pacific Corp. (UNP) reported excellent results for the second quarter 2010, beating the Zacks Consensus Estimate by 19 cents. Overall, the analysts are bullish on the stock, given the company’s impressive results. The impressive performance was driven by...
11Aug2010 | vitalstocks | 0 comments | Continued(RLI) RLI Corporation – Bull of the Day
We are upgrading RLI Corp. (RLI) to Outperform as we believe the company will benefit from business expansion drive diversification into crop and other assumed property reinsurance. Also its extensive product offerings, strong local branch network and focus on specialty insurance...
11Aug2010 | vitalstocks | 0 comments | Continued(MDVN) Medivation 2010 Second Quarter Earnings Narrow Loss
Medivation Inc. (MDVN) reported a loss of 21 cents per share in the second quarter of 2010, narrower than the Zacks Consensus Estimate of a loss of 36 cents and the year-ago loss of 29 cents. Lower expenses led to the narrower loss. Revenues for the quarter were $15.8 million,...
11Aug2010 | vitalstocks | 0 comments | Continued(DTSI) DTS Second Quarter 2010 Earnings Beat Marginally
DTS Inc. (DTSI) reported second quarter 2010 results, with earnings decreasing 57.1% to 9 cents from 21 cents reported in the prior-year quarter. However, earnings per share beat the Zacks Consensus Estimate by a penny. The weak year-over-year results were primarily due to lackluster...
11Aug2010 | vitalstocks | 0 comments | Continued(IGT) International Game Technology Partners with Scientific Games Corporation Subsidiary Global Draw
A wholly owned subsidiary of International Game Technology (IGT), Barcrest Group recently signed an agreement with United Kingdom based Global Draw, a wholly owned subsidiary of Scientific Games Corporation (SGMS). The agreement forms a strategic partnership between the two companies. Under...
11Aug2010 | vitalstocks | 0 comments | Continued(PXP) Plains Exploration & Production Plans a Cut in Gulf of Mexico Assets
Oil and gas company Plains Exploration & Production Co. (PXP) has decided to reduce its operation in the Gulf of Mexico (GOM) area. The company has plans to sell $2 billion worth of assets in the GOM with a view to align capital spending with operating cash flow. Plains has...
11Aug2010 | vitalstocks | 0 comments | Continued