Archive for September, 2010
(DO) U.S. Deepwater Drilling Ban May Lift Sooner
While it is well known to the oil industry that the ongoing drilling moratorium will continue through the end of this November, the Obama administration may lift it a little earlier. The Interior Department is set to release new regulations/guidelines for deepwater drilling anytime...
30Sep2010 | vitalstocks | 0 comments | Continued(GS) Company News for September 30, 2010 – Corporate Summary
• Goldman Sachs (NYSE:GS) cut price targets on Colgate-Palmolive (NYSE:CL) from $86 to $81, while maintaining a “neutral” rating on the shares. • US Lawmakers will take Johnson & Johnson’s (NYSE:JNJ) CEO to task today over their recall of faulty medicines. • Yahoo...
30Sep2010 | vitalstocks | 0 comments | Continued(PCE) Second Quarter Gross Domestic Product Revised Slightly Higher
GDP growth in the second quarter was revised up to 1.7% from a second read of 1.6% but still down from the preliminary reading of 2.4%. This post is essentially a re-post of my analysis of the second reading. The current estimates are in bold, and the previous two estimates are...
30Sep2010 | vitalstocks | 0 comments | Continued(JPM) JPMorgan Chase & Co. Halts Foreclosure Process – Industry-Wide Implications?
On Wednesday, JPMorgan Chase & Co. (JPM) announced that it is stopping nearly 56,000 foreclosures. The company said that it will verify many of the loan documents that some of its employees may have singed without properly verifying the authenticity of the information in...
30Sep2010 | vitalstocks | 0 comments | Continued(C) Citigroup Treasury Securities Announcement Plan
As part of its effort to unwind its holdings in Citigroup Inc. (C), the U.S. Treasury has announced its plan to commence selling $2.2 billion in trust preferred securities (TRUPS) it received from Citi in relation to the Asset Guarantee Program (AGP). The Treasury has made it...
30Sep2010 | vitalstocks | 0 comments | Continued(PCLN) Priceline.com Incorporated – Revenue for the Period Was Up 27%
Priceline.com, Inc. (PCLN) has been on an amazing rally for the last three months, more than doubling in price after jumping from $175 to over $350. With estimates on the rise and a bullish growth projection, PCLN looks like a serious momentum contender. Company Description Priceline.com,...
30Sep2010 | vitalstocks | 0 comments | Continued(WL) Wilmington Trust – Bear of the Day
We have downgrading our long-term recommendation on Wilmington Trust (WL) to Underperform based on deteriorating credit quality and its exposure to risky construction loans. Wilmington’s second quarter 2010 loss was substantially higher than the Zacks Consensus Estimate. Results...
30Sep2010 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services – Bull of the Day
We are upgrading our recommendation on Discover Financial Services (DFS) to Outperform based on the forthcoming Student Loan Corp. acquisition that should enhance its already strong student loan portfolio. Moreover, third quarter earnings were substantially ahead of the Zacks...
30Sep2010 | vitalstocks | 0 comments | Continued(BAC) Bank of America to Follow Volcker Rule
In order to comply with the Volcker Rule related to banks’ restrictions on proprietary trading, Bank of America Corp. (BAC) is laying off one third of its employees from the proprietary-trading desk, the New York Times reported on Wednesday. About 20 to 30 proprietary traders...
30Sep2010 | vitalstocks | 0 comments | Continued(MS) Morgan Stanley Freezes Investment Banking Hiring
Morgan Stanley (MS) has frozen its hiring processes in its investment banking unit for reminder of fiscal 2010, according to a report by Fox Business Network. Hence, the company’s plan to expand its institutional sales and trading businesses will be on hold for the time being....
29Sep2010 | vitalstocks | 0 comments | Continued(LUV) Southwest Airlines-AirTran Merger Details
In one of its smartest moves to revive stalled growth, Southwest Airlines Co. (LUV) the largest U.S. low-cost airline, agreed to buy AirTran Holdings Inc. (AAI) for $1.4 billion. The acquisition is expected to close in the first half of next year and will be fully operational...
29Sep2010 | vitalstocks | 0 comments | Continued(BA) Boeing Earns $5.3 Billion U.S. Navy Fighter Contract
The Boeing Company (BA) has been awarded a $5.3 billion, multi-year procurement (MYP) contract for 124 fighter aircrafts from the U.S. Navy. Under the terms of the agreement, Boeing will deliver 66 F/A-18E/F Super Hornet and 58 EA-18G Growlers to the Navy from 2012 through 2015. The...
29Sep2010 | vitalstocks | 0 comments | Continued(ADTN) ADTRAN Analyst Initiates Coverage at Neutral
We are initiating coverage on ADTRAN Inc. (ADTN) with a Neutral rating. Currently, the stock has a Zacks #2 Rank (Buy). We believe ADTRAN is benefiting from several new product cycles in broadband access, fiber to the node, Ethernet over copper, optical and enterprise VoIP. The...
29Sep2010 | vitalstocks | 0 comments | Continued(GS) Goldman Sachs Group Funds Buy 80% of Endesa Natural Gas Assets
Two infrastructure funds managed by Goldman Sachs Group Inc. (GS) have agreed to buy 80% of the Madrid-based Endesa’s natural gas distribution assets for €800 million ($1.1 billion). The assets include a distribution network covering a stretch of 3,800 kilometers, a transport...
29Sep2010 | vitalstocks | 0 comments | Continued(JBL) Jabil Circuit’s Fourth Quarter Earnings In Line With Expectations – Revenues Slip
Shares of electronic parts manufacturer Jabil Circuit Inc. (JBL) have declined nearly 1% in Tuesday trading as fourth quarter 2010 revenue missed Street expectations. However, Jabil’s reported earnings (including stock-based compensation expense and one-time expenses) increased...
29Sep2010 | vitalstocks | 0 comments | Continued(SJR) Shaw Communications Analyst Maintains Shares at Neutral
We maintain our long-term Neutral recommendation for Shaw Communications Inc. (SJR), which means the stock will perform mostly in line with the broader market. Shaw Communications is a leading cable and satellite MSO of Canada operating mainly in the western part of the country. Shaw...
28Sep2010 | vitalstocks | 0 comments | Continued(LEN) July Begins Second Downleg in Housing Prices
In July, home prices started to slip again, but unevenly across the country. The Case-Schiller Composite 10 City index (C-10) rose 0.03% on a seasonally adjusted basis, and is up 4.01% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10)...
28Sep2010 | vitalstocks | 0 comments | Continued(DAL) Airline Industry Outlook – Sept. 2010 – Industry Outlook
Overall Outlook is Positive The economic downturn and the oil price spike before it had negatively affected the airline industry over the past two years. Now, with the economy on the mend, albeit at a slower-than-expected pace, demand for air travel is increasing from last year’s...
28Sep2010 | vitalstocks | 0 comments | Continued(LLL) L-3 Communications Holdings Earns Air Force Contract
The U.S. Air Force has awarded a $29.4 million contract to L-3 Communications Holdings Inc. (LLL) for effecting modifications to four MC-130W aircrafts. Under the contract, L-3 Communications’ subsidiary TCS Inc. will install a precision strike package on the aircrafts. The...
28Sep2010 | vitalstocks | 0 comments | Continued(LUV) Southwest Airlines and AirTran Holdings Combine
Southwest Airlines (LUV), the largest U.S. low-cost airline, has agreed to buy AirTran Holdings Inc. (AAI) for a combination of cash and Southwest shares. The agreement conforms with the consolidation trend in the airline industry. This pending merger would be the third in the...
28Sep2010 | vitalstocks | 0 comments | Continued(AAPL) Company News for September 28, 2010 – Corporate Summary
• Walgreen (NYSE:WAG) reported better-than-expected fiscal fourth quarter earnings of 49 cents a share, five cents higher than estimates, on revenues of $16.87 billion, up 7.4% versus last year • Jabil Circuit (NYSE:JBL) posted fiscal fourth quarter earnings of 52 cents...
28Sep2010 | vitalstocks | 0 comments | Continued(ACV) Stock Market News for September 28, 2010 – Market News
Activity on the deal-making front failed to send stocks higher on the first day of a new week as investors booked gains after Friday’s solid advance. With no economic data in sight, the selling intensified in the final hour of trading, sending the Dow industrials off 48 points...
28Sep2010 | vitalstocks | 0 comments | Continued(EK) Eastman Kodak Company Renews Walmart Contract
Eastman Kodak Company (EK) recently renewed its contract with Canadian subsidiary of Wal-Mart Stores Inc. (WMT), Walmart Canada Corp. The subsidiary is a leading photo retailer in Canada. The contract was renewed so as to that Walmart Canada remains Eastman Kodak’sprimary operator...
28Sep2010 | vitalstocks | 0 comments | Continued(GDX) Gold Mining Stocks Inch Higher – Voice of the People
Zacks’ Voice of the People Highlights user inthemoneystocks: “Gold Mining Stocks Inch Higher” from the People & Picks community. For more Voice of the People, visit http://at.zacks.com/?id=5851 Featured Post Gold Mining Stocks Inch Higher This morning the...
28Sep2010 | vitalstocks | 0 comments | Continued(BEC) Beckman Coulter Incorporated – Bear of the Day
Currently, the most important issue facing Beckman Coulter (BEC) is the warning letter related to its troponin test kits. This overhang has cut revenues in addition to impacting client additions based on which the outlook has been lowered. Although Beckman is working with the...
28Sep2010 | vitalstocks | 0 comments | Continued(ATML) Atmel Corporation – Bull of the Day
Atmel Corporation’s (ATML) top-line growth continues to accelerate, driven by solid growth in 8-bit and 32-bit micron rollers and touch-sensing products. There are a number of positives associated with Atmel’s ongoing restructuring. The program includes selling four...
28Sep2010 | vitalstocks | 0 comments | Continued(AZN) AstraZeneca Receives Positive European Union Opinion for Drug
AstraZeneca (AZN) recently received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) for Brilique (ticagrelor). The company is seeking approval in the EU for the use of Brilique in the prevention of atherothrombotic events in adult patients with...
28Sep2010 | vitalstocks | 0 comments | Continued(CMCSA) Comcast Closing in on NBC Universal Deal?
Is Comcast Corp. (CMCSA) on the verge of getting regulatory approval to acquire a controlling stake in NBC Universal (NBCU)? A recent change at the helm of NBCU indicates this. Yesterday, Comcast and General Electric Co. (GE), the current owner of NBCU said in a joint statement...
27Sep2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Estimates $2 Billion Profit for Asian Unit in 2010
Over the weekend, American International Group Inc. (AIG) estimated pre-tax earnings of about $2 billion for its Asian life-insurance unit, American International Assurance Group Ltd. (AIA), in fiscal 2010. This is notably higher than the $1.84 billion pre-tax operating profit...
27Sep2010 | vitalstocks | 0 comments | Continued(PETM) PetSmart Incorporated – People Still Spending on Their Pets
PetSmart Inc. (PETM) has weathered the retail storm quite well. The company – a retailer specializing in all things pets – recently beat the Zacks Consensus Estimate by 14%, prompting analysts to raise estimates going forward. It was PetSmart’s 10th consecutive...
27Sep2010 | vitalstocks | 0 comments | Continued