Archive for November, 2010
(CPB) Company News for November 23, 2010 – Corporate Summary
• Hewlett-Packard (NYSE:HPQ) reported earnings of $1.33 per share, up from estimates of $1.27 per share, on an 8.1% revenue gain to $33.2 billion above estimates of $32.8 billion. The firm’s new-year estimate was set at a 13-15% rise to $5.16-$5.26 • Campbell Soup...
23Nov2010 | vitalstocks | 0 comments | Continued(BHI) U.S. Drilling Rig Count Retreats
In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (BHI) reported a fall in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting decreases in the land and offshore rig counts for natural gas drilling. The...
22Nov2010 | vitalstocks | 0 comments | Continued(PBR) Petroleo Brasileiro Announces A New Discovery of Light Oil
Brazilian state controlled energy company Petroleo Brasileiro (PBR) or Petrobras announced the discovery of light oil in sandstone reservoirs to the south of Santos Basin. However, the company did not disclose the estimated amount of oil found. As per the company spokesperson,...
22Nov2010 | vitalstocks | 0 comments | Continued(GD) General Dynamics Wins Missile Defense Agency Contract
Defense Contractor General Dynamics Corporation (GD), through its unit General Dynamics Information Technology, received the Missile Defense Agency Engineering and Support Services (MiDAESS) contract to provide systems engineering and testing services to the Missile Defense Agency...
22Nov2010 | vitalstocks | 0 comments | Continued(TDS) Telephone and Data Systems Analyst Upgrades Shares to Outperform
We are upgrading our long-term recommendation to Outperform from Neutral for Telephone and Data Systems (TDS). Currently, the stock has a Zacks #3 Rank (Hold), which signifies that for the short term (1-3 months), we are maintaining our Hold rating. Telephone and Data Systems’...
22Nov2010 | vitalstocks | 0 comments | Continued(UNP) Union Pacific Announces Increase to Dividend
Yesterday, the Board of Directors of Union Pacific Corp. (UNP) decided to raise the quarterly dividend by 15% to 38 cents per share from 33 cents. Remarkably, this is the second time in 2010 that the company has decided to increase its dividend rate. In early 2010, Union Pacific...
21Nov2010 | vitalstocks | 0 comments | Continued(NVTL) Novatel Wireless Launches HSPA+ USB Modems
Novatel Wireless Inc. (NVTL) yesterday announced the launch of its compact and light-weight DC-HSPA+ USB modem on Bell Mobility’s Dual-Cell HSPA+ (DC HSPA+) network. The Ovation MC547 USB modem is based on the 3GPP Release 8 standard and will provide the next-generation,...
21Nov2010 | vitalstocks | 0 comments | Continued(CVX) Chevron Sells Fuels Marketing and Aviation Businesses
Premier oil and gas company, Chevron Corporation (CVX) has agreed to sell its fuels marketing and aviation businesses in parts of the Caribbean and Central America to Vitogaz, S.A. The latter is an affiliate of RUBIS, a France-based petroleum company. The deal, whose financial...
19Nov2010 | vitalstocks | 0 comments | Continued(HUM) Humana See Rise in Doctor Visits Causing Earnings Drop in 2011
On the expectation of the rise in doctor visits and medical procedures, Humana Inc. (HUM) lowered its 2011 earnings forecast to $5.35-$5.55 per share, down from the 2010 expectation of $6.40-$6.50. During the third-quarter, Humana increased its 2010 earnings outlook to $6.40...
19Nov2010 | vitalstocks | 0 comments | Continued(ADSK) Autodesk Beats The Street Consensus
Software design maker, Autodesk Inc. (ADSK) reported third quarter 2011 earnings of 27 cents per share, beating the Zacks Consensus Estimate by 2 cents. However, shares were down $2.06 (5.68%) to $34.20 in after hours trading. Earnings Incorporatedluding stock-based compensation...
19Nov2010 | vitalstocks | 0 comments | Continued(CMA) Federal Reserve Devises Dividend Increase Plan
Following the doubling of dividend and share buyback announcement by Comerica Inc. (CMA), the Federal Reserve has devised guidelines that it would follow to grant banks, that undergone stress test in 2009, the permission to increase dividends and buy back shares. The Fed plans...
18Nov2010 | vitalstocks | 0 comments | Continued(BAC) Stock Market News for November 18, 2010 – Market News
Stocks closed mixed on Wednesday amid lingering concerns about debt problems in Europe and a sharp drop in construction of new homes in the U.S. Financials were the weak spot in yesterday’s trading but strength in retailers’ shares helped contain the losses. The blue-chip...
18Nov2010 | vitalstocks | 0 comments | Continued(AMAT) Company News for November 18, 2010 – Corporate Summary
• GM (NYSE:GM) priced its IPO at the upper end of its range at $33 per share, and expanded the number of shares being offered to 478 million • Sears Holdings (NASDAQ:SHLD) reported a wider third quarter loss than expected at $1.98 versus the expected $1.07, on revenues...
18Nov2010 | vitalstocks | 0 comments | Continued(NTAP) Network Appliances Beat The Street Again
Network Appliances Inc. (NTAP) reported second quarter fiscal 2011 adjusted earnings per share (EPS) of 45 cents, exceeding the Zacks Consensus Estimate of 39 cents. Adjusted EPS excludes amortization of intangible assets, acquisition related expenses, non-cash interest expense...
18Nov2010 | vitalstocks | 0 comments | Continued(BJ) BJ’s Wholesale Club Beats Earnings Expectations – Lifts Outlook
BJ’s Wholesale Club, Inc. (BJ), a leading warehouse club operator in the United States, recently posted better-than-expected third-quarter 2010 results on the heels of higher merchandise margins and effective cost management, and lifted its outlook. The quarterly earnings of...
18Nov2010 | vitalstocks | 0 comments | Continued(BAC) U.S. Banks Learn There is Another Round of Stress Tests Ahead
America’s largest banks will have to go through another round of stress tests to prove that they will be able to confront another recession with their financial strength, the Federal Reserve said Wednesday. All of the 19 largest banks regulated by the Federal Reserve including...
18Nov2010 | vitalstocks | 0 comments | Continued(PCG) PG&E Corporation Issues Fixed Interest Notes
On Thursday, Reuters reported that one of the largest combined natural gas and electric utilities in the U.S. PG&E Corporation (PCG) has issued fixed interest notes. This initiative is in line with its debt restructuring strategies. Merrill Lynch, a part of Bank of America...
18Nov2010 | vitalstocks | 0 comments | Continued(WMT) U.S. Initial Jobless Claims Edge Up
Initial Claims for Unemployment Insurance rose by 2,000 last week to 439,000 (last week was also revised up by 2,000, so one could see it as a 4,000 increase). This was slightly better than the expected level of 442,000. While not as good as a further drop, it still keeps alive...
18Nov2010 | vitalstocks | 0 comments | Continued(LMNX) Luminex Earns FDA Approval for New Diagnostic Test
Luminex Corporation (LMNX), a developer of biological testing technologies, has commenced the commercial launch of its first pharmacogenetic test following its recent approval by the U.S. Food and Drug Administration (FDA). Pharmacogenetics is the study of genetic factors that...
18Nov2010 | vitalstocks | 0 comments | ContinuedBullish Sentiment Falls 17.6 Percentage Points – AAII Sentiment Survey – 18 November 2010
Bullish sentiment fell 17.6 percentage points to 40.0% in the latest AAII Sentiment Survey. This is an 11-week low for optimism that stock prices will rise over the next six months. The historical average is 39%. Neutral sentiment, expectations that stock prices will remain...
18Nov2010 | vitalstocks | 0 comments | Continued(SLXP) Salix Pharmaceuticals Posts Narrower Third Quarter 2010 Loss
Salix Pharmaceuticals, Ltd. (SLXP) posted a loss of 5 cents per share in the third quarter of 2010, narrower than the Zacks Consensus Estimate of a loss of 15 cents and the guidance provided by the company (loss of 13 cents). Salix had reported a loss of 15 cents in the year-ago...
17Nov2010 | vitalstocks | 0 comments | Continued(ENZN) Enzon Pharmaceuticals Analyst Cuts Shares to Underperform
We are downgrading Enzon Pharmaceuticals (ENZN) to Underperform from Neutral because of concerns regarding the disappointing third quarter results, declining royalty revenues, the principal source of revenues at Enzon and the early stage pipeline. Based in Bridgewater, New Jersey,...
17Nov2010 | vitalstocks | 0 comments | Continued(PRA) ProAssurance Announces Repurchase of Shares
In order to return value to its shareholders, the board of directors of ProAssurance Corporation (PRA) authorized a new program of $200 million to repurchase ProAssurance’s shares or retire outstanding debt, effective immediately. However, ProAssurance stated that the timing...
17Nov2010 | vitalstocks | 0 comments | Continued(URBN) Urban Outfitters Earnings Report a Penny Ahead of Expectations
Urban Outfitters Inc. (URBN), the retailer of apparel, footwear, and accessories, recently posted third-quarter 2010 earnings of 43 cents a share, a penny ahead of the Zacks Consensus Estimate, and rose 19.4% from 36 cents delivered in the prior-year quarter on the heels of a...
17Nov2010 | vitalstocks | 0 comments | Continued(TDG) TransDigm Group Fourth Quarter 2010 Exceeds Estimates
TransDigm Group Incorporated (TDG) reported fourth quarter 2010 EPS from continuing operations of 96 cents, beating the Zacks Consensus Estimate of 85 cents. Revenue Total revenues were $223.1 million, an increase of 13.1% year over year. Revenues reported by the company were...
17Nov2010 | vitalstocks | 0 comments | Continued(NTAP) NetApp 2011 Second Quarter Earnings Preview
NetApp Inc. (NTAP) is scheduled to announce its second quarter 2011 results on November 17. The upward revisions in estimates reflect positive sentiments on the stock. First Quarter Overview NetApp reported solid first quarter 2011 numbers, with adjusted earnings per share of...
17Nov2010 | vitalstocks | 0 comments | Continued(MMP) Magellan Midstream Partners L.P. Earnings Scorecard
Earlier this month, Magellan Midstream Partners L.P. (MMP) – a master limited partnership (“MLP”) – announced its financial results for the third quarter ended September 30, 2010. Now that the analysts have had some time to ponder upon the quarterly performance of Magellan,...
17Nov2010 | vitalstocks | 0 comments | Continued(S) Sprint Nextel Vulnerable to Clearwire Risk?
The latest wireless industry buzz is on Sprint Nextel’s (S) imminent danger, with Clearwire Corp. (CLWR) running a risk of defaulting its loan agreements. Sprint Nextel owns a hefty 54% stake in Clearwire and offers speedy data services to customers via 4G WiMax (a wireless...
17Nov2010 | vitalstocks | 0 comments | Continued(ANF) Company News for November 16, 2010 – Corporate Summary
• Wal-Mart (NYSE:WMT) posted third quarter earnings of $0.95 that included a $0.05 tax credit, compared to estimates of $0.90, as revenues rose 2.6% YoY to $101.2 billion, off estimates of $102.3 billion. The firm said it sees FY11 EPS of $4.08 to $4.12 • Home Depot (NYSE:HD)...
17Nov2010 | vitalstocks | 0 comments | Continued(PDLI) PDL BioPharma Meets Earnings Forecast – Beats Revenue Forecast
PDL BioPharma Inc. (PDLI) posted third quarter earnings of 25 cents per share, in line with the Zacks Consensus Estimate, but below the year-ago figure of 29 cents. Earnings declined in the quarter, despite the increase in revenue, due to higher selling and general expenses. Quarterly...
17Nov2010 | vitalstocks | 0 comments | Continued