Archive for June, 2011
(MDT) Medtronic’s Bone Protein in Controversy
Leading medical devices player Medtronic (MDT) has been put under the scanner based on some articles published on recombinant human Bone Morphogenetic Protein-2 (rhBMP-2) in a recent edition of Spine Journal. According to a report issued in The Wall Street Journal (WSJ) on the...
30Jun2011 | vitalstocks | 0 comments | Continued(JNJ) Johnson & Johnson Recalls Tylenol Lot
Johnson & Johnson (JNJ) recently announced that it is recalling one lot of Tylenol Extra Strength Caplets, 225 count bottles, at the retail level. The lot, manufactured in Feb 2009, is being recalled in the US. The recall was initiated due to reports regarding odor including...
30Jun2011 | vitalstocks | 0 comments | Continued(SUN) Sunoco Spreads Retail Network
In an attempt to expand its retail web, Sunoco Inc. (SUN) added 13 sites of its namesake brand in Birmingham, Alabama. The expansion was done under the terms of an agreement entered into with Quality Petroleum of Alabama and Chattahoochee Oil, a distributor of petroleum products. The...
30Jun2011 | vitalstocks | 0 comments | Continued(V) Visa Funds Escrow Account
Visa Inc. (V) has provided the share count details and its pricing regarding the escrow account, which was established on March 31, 2011. During March end, Visa had deposited about $400 million in its escrow account in order to fund its litigation costs. Besides, this was created...
30Jun2011 | vitalstocks | 0 comments | Continued(ECL) Ecolab and Proventix Join Forces
Leading cleaning and sanitation products maker Ecolab Inc (ECL) is collaborating with Birmingham, Alabama-based technology company Proventix Systems Inc in a quest to fight the spread of healthcare acquired infections (“HAIs”). Under the deal, the Minnesota-based company...
30Jun2011 | vitalstocks | 0 comments | Continued(FISV) Fiserv Expands with Credit Unions
Fiserv, Inc. (FISV) recently announced that Randolph-Brooks Federal Credit Union (RBFCU) has chosen to implement the Acumen account processing solution from Fiserv. Fiserv, which competes with Fidelity National Information Services Inc. (FIS), assists financial institutions and...
30Jun2011 | vitalstocks | 0 comments | Continued(CVX) Chevron to Tap Carabobo Oil in 2012
According to a company executive, U.S. energy behemoth Chevron Corp. (CVX) expects the start-up of an oil field in Venezuela’s Orinoco Belt next year. The super major is confident that it can commence production from Orinoco’s Carabobo Project 3 – which has estimated reserves...
30Jun2011 | vitalstocks | 0 comments | Continued(TXT) Army to Receive Textron ASVs
Textron Inc. (TXT) said that a contract option exercised by the U.S. Army requires Textron’s Marine & Land Systems unit to deliver about 65 additional M1117 Armored Security Vehicles (ASVs). The option exercised by the U.S. Army Contracting Command, Warren, Michigan, is...
30Jun2011 | vitalstocks | 0 comments | Continued(GLW) Corning Embarks on Joint Research
Corning Inc. (GLW) announced the opening of a research facility in China, jointly with the Shanghai Institute of Ceramics and Chinese Academy of Sciences (SICCAS). The facility is located in the Research and Development Center of SICCAS in Jiading, Shanghai. SICCAS is China’s...
30Jun2011 | vitalstocks | 0 comments | Continued(SU) Suncor Upgraded to Outperform
We have upgraded Canada’s biggest energy firm and the largest oil sands outfit Suncor Energy Inc. (SU) to Outperform from Neutral, reflecting the company’s impressive portfolio of growth opportunities, unique asset base and high return potential in the long run. Suncor has...
30Jun2011 | vitalstocks | 0 comments | Continued(ABB) ABB Modernizes German Steel Plants
ABB Ltd. (ABB) will work on the ThyssenKrupp Steel’s Duisburg-Bruckhausen steel plant at Germany. The company received three contracts from ThyssenKrupp Steel Europe to upgrade the 7-stand hot strip rolling mill no 1 of the steel plant. The conglomerate value of the contracts...
30Jun2011 | vitalstocks | 0 comments | Continued(C) A Look Back at the Stimulus Debate
With economic stimulus now turning to fiscal contraction, I thought it might be interesting to look back and see what I was thinking when the debate over the stimulus package was going on. This is from a post I made on February 9, 2009. Some of the details of the ARRA changed...
30Jun2011 | vitalstocks | 0 comments | Continued(DRI) Darden Restaurants Opens LongHorn in San Antonio
LongHorn Steakhouse, operated by Darden Restaurants Inc. (DRI), recently opened a 6,200-square foot restaurant, in San Antonio, Texas. The restaurant accommodates 240 guests and is the fifth LongHorn in the region. Industry veteran David Marchlewski will assume the role of managing...
30Jun2011 | vitalstocks | 0 comments | Continued(NWSA) News Corporation Selling MySpace
Recently, Bloomberg reported that News Corp. (NWSA) seeks to reach a strategic decision with Specific Media regarding the sale of MySpace, its social networking site, for about $35 million in cash and stock. News Corp. had acquired the Beverly Hills, California-based MySpace...
30Jun2011 | vitalstocks | 0 comments | Continued(PEP) Pepsi Launches New Ad Campaign
Pepsico Inc. (PEP) is determined to regain its lost position as the #2 US beverage in the world. Pepsi to meet this goal wants to go back to its roots and promote its flagship product Pepsi Cola once again. Keeping this in mind, Pepsi launches its new advertising campaign for...
30Jun2011 | vitalstocks | 0 comments | Continued(FLR) Fluor Corporation Provides Australian EPCM Contract
Fluor Corporation (FLR) is all set to provide its engineering, procurement and construction management (EPCM) services for Woodside Energy Limited’s operating gas assets in Australia. In the final agreement, the initial contract term for Fluor is three years and has an option...
30Jun2011 | vitalstocks | 0 comments | Continued(LLL) L-3 Communications Holdings Manages Navy Fleet
L-3 Communications Holdings Inc. (LLL) has received a $104 million contract to perform aircraft sustainment for the U.S. Navy’s fleet consisting of P-3, EP-3 and NP-3 aircraft. The contract awarded to L-3 Communications’ Platform Integration division was an add-on to a previous...
30Jun2011 | vitalstocks | 0 comments | Continued(FINL) The Finish Line Matches Wall Street Estimates
The Finish Line Inc. (FINL) posted adjusted earnings per share of 30 cents in the first quarter of fiscal 2012, in line with the Zacks Consensus Estimate. However, the quarterly earnings exceeded the year-ago earnings by 5 cents. Indianapolis-based Finish Line reported year-over-year...
30Jun2011 | vitalstocks | 0 comments | Continued(STO) Statoil Strikes Oil Near Oseberg
Norway’s Statoil ASA (STO) has discovered oil and condensate in the North Sea’s Krafla West prospect. Situated around 26 kilometers south-west of the producing Oseberg South find, the discovery well encountered hydrocarbons in two columns with a total thickness of 300 meters. Initial...
30Jun2011 | vitalstocks | 0 comments | Continued(PKI) PerkinElmer Incorporated – Bull of the Day
We upgrade our rating for PerkinElmer, Inc. (PKI) to Outperform based on solid results and benefits from reorganization. First-quarter 2011 earnings per share of $0.34 surpassed the Zacks Consensus Estimate of $0.30. PerkinElmer is a leader in several life science segments. It...
30Jun2011 | vitalstocks | 0 comments | Continued(HCBK) Hudson City Bancorp – Bear of the Day
We are downgrading our recommendation on Hudson City Bancorp (HCBK) to Underperform. It reported a loss on a GAAP basis in the first quarter of 2011 for the completion of the balance sheet restructuring during the quarter. Lower interest and dividend income, and increased non-interest...
30Jun2011 | vitalstocks | 0 comments | Continued(BJ) BJ’s Wholesale Club Approves Buyout Offer
After keeping the market guessing about the future prospects of the company, BJ’s Wholesale Club Inc. (BJ) recently announced that its board of directors has approved the $2.8 billion buyout offer of Leonard Green & Partners and CVC Capital Partners. Going with the approval,...
30Jun2011 | vitalstocks | 0 comments | Continued(TTWO) Court Ruling Boosts Gaming Industry
The gaming industry heaved a sigh of relief after the U.S Supreme Court turned down a California law that prevented minors (below 18 years of age) from buying violent videogames, referring to the ban as an unconstitutional infringement on speech rights. Publishers were relieved...
30Jun2011 | vitalstocks | 0 comments | Continued(STZ) U.S. Jobless Claims Remain High
The positive momentum in the stock market over the last few days reflected growing expectations of a positive outcome for the Greek story. Wednesday’s successful parliamentary vote, to be followed by another vote today, paves the way for the beleaguered nation to get the...
30Jun2011 | vitalstocks | 0 comments | Continued(EC) Roche Holdings Gets FDA Panel View on Avastin
Roche Holdings Ltd. (RHHBY) recently announced that the US Food and Drug Administration’s (FDA) Oncologic Drugs Advisory Committee (ODAC) has recommended that the agency should withdraw its approval for the use of Avastin (bevacizumab) in combination with paclitaxel in previously...
30Jun2011 | vitalstocks | 0 comments | Continued(MHP) McGraw-Hill Announces Share Buyback Program
The McGraw-Hill Companies Inc. (MHP) in its attempt to optimize its shareholders’ return, announced a new share repurchase program, following the previous $45 million program that commenced in January 2007. The newly announced program authorizes the company to buy back up to...
30Jun2011 | vitalstocks | 0 comments | Continued(WAG) Walgreen Expands in Chicago
Leading retail pharmacy chain Walgreen Co. (WAG) has recently launched a project called ‘Chicago Hometown Investment Initiative’, which is expected to offer approximately 600 new job opportunities in the city over the next couple of years and increase fourfold the number...
30Jun2011 | vitalstocks | 0 comments | Continued(RRGB) Red Robin Gourmet Burgers CFO & CMO Resign
Colorado-based Red Robin Gourmet Burgers Inc (RRGB) recently announced that Katie Scherping will step down as its Chief Financial Officer (CFO) effective July 15, 2011. On the same day, Susan Lintonsmith will also resign from her post of Chief Marketing Officer (CMO). The company...
30Jun2011 | vitalstocks | 0 comments | Continued(CPB) Campbell Soup Company Calls for Efficiency
The global manufacturer and marketer of high-quality foods and simple meals, Campbell Soup Company (CPB), have underlined a series of initiatives to enhance its supply chain efficiency and reduce overhead costs. Under its new restructuring plan, the company will make new investments,...
30Jun2011 | vitalstocks | 0 comments | Continued(SBS) Companhia de Saneamento Basico do Estado de São Paulo Downgraded to Underperform
We recently downgraded our recommendation on Companhia de Saneamento Basico do Estado de São Paulo, or SABESP (SBS) from Neutral to Underperform. SABESP is a public water and sewage services provider in the State of Sao Paulo, Brazil. The company is one of the largest players...
30Jun2011 | vitalstocks | 0 comments | Continued