Archive for December, 2010
(RTN) Raytheon Wins $52 Million Radar Contract
Raytheon Company (RTN) has received a $52 million contract to make APG-79 Active Electronically Scanned Array (AESA) radars for Naval Air Systems Command’s F/A-18 Super Hornet tactical aircraft. This is Raytheon’s third retrofit contract bringing the total orders for the...
31Dec2010 | vitalstocks | 0 comments | Continued(AFCE) AFC Enterprises Refinances Credit Facility
AFC Enterprises Inc. (AFCE), the franchisor and operator of Popeyes, the world’s second-largest quick-service chicken concept based on number of units, announced yesterday, the completion of a $100 million credit agreement. The agreement was signed on December 23, with...
31Dec2010 | vitalstocks | 0 comments | Continued(LMT) Lockheed Martin Corporation Earns Combat Ship Contract
Lockheed Martin Corporation (LMT) announced that its team received a contract from the U.S. Navy to construct up to 10 Littoral Combat Ships within 2015. If all the options of the contact are exercised, its total value of the ship construction portion will be $3.6 billion. The...
31Dec2010 | vitalstocks | 0 comments | ContinuedDec 30: Pending Home Sales – Economic Highlights
Pending Home Sales increased 3.5% to 92.2, against expectationsof a 1.5% increase. The Pending Home Sales Index had increased 10.4% in October to an index value of 89.1, following a 1.8% decrease in September. The index was 5.0% lower than November 2009, when it was at 97.0. Crude...
31Dec2010 | vitalstocks | 0 comments | Continued(MTU) Mitsubishi UFJ Financial Group and Morgan Stanley to Cut Jobs?
Mitsubishi UFJ Morgan Stanley Securities Co., a joint venture between Mitsubishi UFJ Financial Group Inc. (MTU) and Morgan Stanley (MS), is planning to right-size its company by trimming its payroll. The company would offer an early retirement program from February, according...
31Dec2010 | vitalstocks | 0 comments | Continued(EQIX) Equinix Analyst Upgrades Shares to Outperform
We recently upgraded our long-term rating on Equinix Inc. (EQIX), a leading provider of data center solutions, to Outperform from Neutral. The rating was upgrade on the back of third-quarter 2010 earnings results, which were in line with the Zacks Consensus Estimate. The upgrade...
31Dec2010 | vitalstocks | 0 comments | Continued(ORCL) Oracle Second Quarter 2011 Earnings Scorecard
Software giant Oracle Corp. (ORCL) reported better-than-expected second quarter 2011 results with both earnings and revenues easily beating the Zacks Consensus Estimates. The results were driven by strong new software license sales (sales to new customers) and growth in hardware...
31Dec2010 | vitalstocks | 0 comments | Continued(CEO) CNOOC’s to Acquire 50% Interest in China United Coal Bed Methane Company
China National Offshore Oil Corporation (or CNOOC Group), the parent company of CNOOC Ltd. (CEO), is heading toward an agreement to acquire 50% interest in China United Coal Bed Methane Company Limited (“CUCMB”) for 1.2 billion yuan ($181.2 million). The move reflects the...
31Dec2010 | vitalstocks | 0 comments | Continued(ALL) Allstate Sues Bank of America on Mortgage-Backed Securities Purchase
On Monday, Allstate Corp. (ALL) filed a federal complaint against the mortgage giant, Countrywide Financial Corp., and 17 other defendants, alleging that the latter have sold $700 million of toxic investments in lieu of safe investments to Allstate in 2005, which later experienced...
30Dec2010 | vitalstocks | 0 comments | Continued(OMAB) Grupo Aeroportuario del Centro Norte Announces 5-Year Plan
Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V (OMAB) announced a Master Development Program (MDP) investments for the next five years for a total consideration of MXN$2,745.2 million. The five years include the period between fiscal 2011 to fiscal...
30Dec2010 | vitalstocks | 0 comments | ContinuedBullish Sentiment Dips, But Still at High Levels – 30 December 2010 – AAII Sentiment Survey
Bullish sentiment fell in the latest AAII Sentiment Survey, but still remains at high levels. The percentage of individual investors expecting stocks to rise over the next six months fell 11.7 percentage points to 51.6%. This is the 17th consecutive week that bullish sentiment...
30Dec2010 | vitalstocks | 0 comments | Continued(NDAQ) Nasdaq OMXGroup Announces Possible Expansion in Japan
In order to expand its footprint globally, Nasdaq OMXGroup Inc. (NDAQ) may partner with the No.2 operator of Japan – Osaka Securities Exchange Co. (OSE) to re-enter the Japanese market as early as January 2012. Earlier in 2000, Nasdaq and OSE had opened the Nasdaq Japan...
30Dec2010 | vitalstocks | 0 comments | Continued(MCO) U.S. Home Foreclosures Jumped in 2010 Third Quarter! Warning for 2011?
Just a couple of days before entering the New Year, a report from bank regulators revels that the U.S. home foreclosures jumped in the third quarter as lesser number of distressed borrowers received assistance related to loan modifications from mortgage servicers. This seems...
30Dec2010 | vitalstocks | 0 comments | Continued(GG) Goldcorp Acquires Andean Resources
Goldcorp Inc. (GG) announced that it has completed the previously announced acquisition of Sydney, Australia-based Andean Resources Limited (AND.AX) for approximately C$3.6 billion ($3.4 billion). The acquisition brings to Goldcorp the Cerro Negro Gold project, an advanced-stage,...
30Dec2010 | vitalstocks | 0 comments | Continued(WIN) Windstream Communications Analyst Upgrades Shares to Neutral
We are upgrading our long-term recommendation on Windstream Communication (WIN), the fifth largest local telephone carrier in the U.S., to Neutral from Underperform. We believe the company’s liquidity concerns will be reined in by the growth opportunities ahead. Currently,...
30Dec2010 | vitalstocks | 0 comments | Continued(GNVC) Stock Market News for December 30, 2010 – Market News
Even though the markets trimmed the intra-day rally during closing hours on Wednesday, the benchmarks still moved modestly upward to achieve new highs. After-effects of the snowstorm in the Northeast continued to keep investors away from the Street. In addition, the ongoing holiday...
30Dec2010 | vitalstocks | 0 comments | Continued(APC) Company News for December 30, 2010 – Corporate Summary
• BHP Billiton (NYSE:BHP) plans to offer a price of $90 per share for Anadarko (NYSE:APC) • Lockheed Martin (NYSE:LMT) was awarded a Navy contract yesterday to build 10 warships known as Littoral Combat Ships, between now and 2015 worth up to $3.6 billion • Susquehanna...
30Dec2010 | vitalstocks | 0 comments | Continued(T) AT&T Announces Plan to Expand Wi-Fi Zones
AT&T Inc. (T), the second largest mobile service provider in the U.S., plans to expand Wi-Fi hotzones for its wireless network, including iPhones, to major markets. The company will expand its Wi-Fi access around Times Square in New York and introduce its first hotspot in...
29Dec2010 | vitalstocks | 0 comments | Continued(AMZN) Why Amazon Should Be on Investor’s Wishlists in 2011
by Alexander Moschina, Investment U Research Editor’s Note: This article comes from Alex Moschina, who’s filling in for Martin Denholm for a few weeks. At such a vital time of year for retailers, he takes a look at the upcoming earnings prospects for mammoth online giant,...
29Dec2010 | InvestmentU | 0 comments | Continued(C) Company News for December 29, 2010 – Corporate Summary
• Citigroup (NYSE:C) CEO Pandit remarked that his firm is ready for any sort of regulatory changes • FBR reiterated an “outperform” rating on Fairchild Semiconductor (NYSE:FCS), raising the price target from $20 to $22 • Kaufmann reiterated a “buy”...
29Dec2010 | vitalstocks | 0 comments | Continued(AKS) Stock Market News for December 29, 2010 – Market News
After-effects from the blizzard which had hit the northeast continued as trading volumes remained thin for the second consecutive day and markets closed mixed on Tuesday. Oil prices and energy stocks, nonetheless, moved up primarily due to the blizzard. The Dow Jones Industrial...
29Dec2010 | vitalstocks | 0 comments | Continued(AIG) American International Group Settles $146 Million Lawsuit
Recently, American International Group Inc. (AIG) negotiated with the insurance regulators and settled a multi-state workers compensation probe for $146.5 million. This comprises about $100 million in fines and other penalties to resolve claims and about $46.5 million in additional...
29Dec2010 | vitalstocks | 0 comments | Continued(PTR) PetroChina Company Limited Announces Sale of Pipeline Stake
PetroChina Company Limited (PTR) is planning to sell its stake in a gas pipeline operator to its subsidiary Kunlun Energy Co. for approximately $2.9 billion. The decision has been taken by PetroChina to make fuel distribution the main business of Kunlun Energy. PetroChina acquired...
28Dec2010 | vitalstocks | 0 comments | Continued(DHI) Economic Update – October 2010 – U.S. Home Prices Still Falling
In October, home prices continued to slip, and the declines were very widespread. The Case-Schiller Composite 10 City index (C-10) fell 0.93% on a seasonally adjusted basis and is up just 0.20% from a year ago. The broader Composite 20 City index (which includes the cities in...
28Dec2010 | vitalstocks | 0 comments | Continued(JAS) Jo-Ann Stores to be Acquired for $1.6 Billion
Jo-Ann Stores Inc. (JAS), the fabric and craft retailer announced that it will be purchased by an affiliate of private-equity firm, Leonard Green & Partners LP for $61 per share, or $1.6 billion, in cash. The offer price was at a 34% premium to Wednesday’s closing price...
28Dec2010 | vitalstocks | 0 comments | Continued(EIX) Edison International Announces New Wind Project
Energy utility Edison International (EIX) announced that its unit Edison Mission Group has started commercial operation of its 150 megawatt (MW) Cedro Hill wind project in southern Texas. This project utilizes 100 General Electric Co. (GE) turbines with a generating capacity...
28Dec2010 | vitalstocks | 0 comments | Continued(DUK) Duke Energy and Alinda Capital Partners Form Joint Venture
Duke Energy Corporation (DUK) and Alinda Capital Partners LLC have formed a joint venture, as previously agreed upon, to grow DukeNet Communications LLC. Also, DukeNet announced the closure of a $150 million senior-secured credit facility. Duke Energy and Alinda had agreed on...
27Dec2010 | vitalstocks | 0 comments | Continued(VVUS) Vivus Seeks EU Nod for Qnexa
Vivus, Inc. (VVUS) recently announced that it has filed a Marketing Authorization Application (MAA) with the European Medicines Agency (EMA) seeking approval for Qnexa. The company is looking to get Qnexa approved in the EU for the treatment of obesity (in conjunction with a...
27Dec2010 | vitalstocks | 0 comments | Continued(JPM) U.S. Bank Failures Now Up to 157 in 2010
The ongoing economic volatility took its toll on a few more banks last week. On Friday, six more banks were shuttered by U.S. regulators. Out of the six failed banks, three were based in Georgia and one each in Florida, Arkansas and Minnesota. This brings the total number of...
27Dec2010 | vitalstocks | 0 comments | Continued(JPM) Federal Deposit Insurance Corporation’s Problem Bank List Increases
The number of banks on the Federal Deposit Insurance Corporation’s (FDIC) list of problem institutions in the third quarter grew to 860 from 829 in the previous quarter and 552 in the year-ago quarter, the organization said on Tuesday. This is the highest since the savings...
27Dec2010 | vitalstocks | 0 comments | Continued