Archive for June, 2011
(ACN) Accenture Launches National Electronic Health Records in Singapore
Backed by the Singapore Ministry of Health, technology services and outsourcing company Accenture plc (ACN) recently launched a National Electronic Health Record (NEHR) system. The contract for developing the NEHR system was awarded to Accenture in August 2010. Financial terms...
22Jun2011 | vitalstocks | 0 comments | Continued(PM) Philip Morris International Sues Fake Marlboro Vendors
Philip Morris International Inc. (PM) has filed a case in U.S. District Court against local retailers in Miami for selling fake Marlboro cigarettes. The New York-based cigarette company has tracked down 17 retailers who have been selling these cigarettes. Philip Morris has been...
22Jun2011 | vitalstocks | 0 comments | Continued(MDT) Medical Devices Stock Outlook – June 2011 – Industry Outlook
A host of macro headwinds (including price and procedure volume pressure) which hit the MedTech industry last year continued to haunt the sector during the March quarter and encumber growth. Although a number of these issues are expected to linger through the remainder of 2011,...
22Jun2011 | vitalstocks | 0 comments | Continued(PAYX) Paychex Fourth Quarter 2011 Earnings Preview
Paychex Inc. (PAYX) is scheduled to announce its fourth quarter fiscal 2011 results on June 23, and we do not see any major variation in analyst estimates at this point. Third Quarter Overview Paychex delivered modest third quarter 2011 results, with earnings of 36 cents per...
22Jun2011 | vitalstocks | 0 comments | Continued(RLI) Rating Action on RLI Corporation
A.M. Best Co. has reiterated its issuer credit ratings (ICR) of “a-” for RLI Corp. (RLI). The rating agency has upgraded the outlook to positive from stable. Also, A.M. Best has reiterated the debt rating of “a-” on the $100 million 5.95% senior unsecured notes, due 2014...
22Jun2011 | vitalstocks | 0 comments | Continued(EOG) Seafox to Jackup EOG Resources Oil Venture
A subsidiary of EOG Resources Inc. (EOG) has inked a contract with Seafox Contractors BV, an operating company of Netherland-based Seafox Group. The deal entitles EOG to use Seafox’ facilities and a multi-support jackup – Seafox 1 – at the Conwy field in the East Irish...
22Jun2011 | vitalstocks | 0 comments | Continued(COL) Rockwell Collins Sells Rollmet to Precision Castparts
Rockwell Collins Inc. (COL) said it has decided upon selling its Rollmet product line to Precision Castparts Corp. (PCP). The company’s decision to sell the Rollmet business stems from its inclination to have a better focus on the core markets, leading to stronger growth. The...
22Jun2011 | vitalstocks | 0 comments | Continued(ECA) EnCana and PetroChina End Joint Venture
Canada’s largest natural gas producer EnCana Corp. (ECA) has confirmed that it has pulled out of talks with Chinese energy giant PetroChina Co. Ltd. (PTR) regarding the sale of half of its prolific Cutbank Ridge shale natural gas assets in British Columbia and Alberta for approximately...
22Jun2011 | vitalstocks | 0 comments | Continued(AMLN) Amylin Pharmaceuticals, Partners Eli Lilly and Alkermes Learn Bydureon Gains EU Approval
Amylin Pharmaceuticals, Inc. (AMLN) and its partners, Eli Lilly and Company (LLY), and Alkermes, Inc. (ALKS), recently received a boost with the European Commission granting marketing authorization to Bydureon (exenatide once-weekly) for the treatment of type II diabetes. Bydureon...
22Jun2011 | vitalstocks | 0 comments | Continued(BDX) Unilife Hosts White House Business Council Meeting
Unilife Corporation (UNIS) recently hosted Kathleen Merrigan, Deputy Secretary of the U.S. Department of Agriculture (“USDA”), for a White House Business Council (“WHBC”) meeting with local business chiefs at its plant in York, Pennsylvania. The White House set up the...
22Jun2011 | vitalstocks | 0 comments | Continued(COH) Coach Analyst Keeps Shares at Neutral
Being a leading American marketer of fine accessories and gifts, Coach Inc. (COH) boasts of a proven strategy of investing in stores to enhance store sales productivity through product innovation, compelling pricing strategy, new merchandise assortments, and a cost-effective...
22Jun2011 | vitalstocks | 0 comments | Continued(RTN) Raytheon Wins Missile Contract
Defense contractor Raytheon Company (RTN) has signed a deal worth $1.7 billion to upgrade the Patriot Air and Missile Defense System for Saudi Arabia. Under the Direct Commercial Sales contract signed, Raytheon will advance the missile defense system to the latest Configuration-3. The...
22Jun2011 | vitalstocks | 0 comments | Continued(TEX) Terex Bid Adequate – Demag Cranes Agrees
Terex Corp. (TEX) is now in the process of acquiring Demag Cranes for $1.4 billion. After agreeing to Terex’s bid of 45.50 euros per share in cash, up from 41.75 euros, last week, Demag has agreed to be taken over by Terex. The offer values Demag at 963 million euros (approximately...
22Jun2011 | vitalstocks | 0 comments | Continued(NVS) Novartis Gets Setback From FDA Panel
Novartis (NVS) received a setback recently when an advisory panel to the US Food and Drug Administration (FDA) recommended against approving its pipeline candidate ACZ885 for the proposed indication. Novartis was seeking approval to expand the use of ACZ885 for the treatment...
22Jun2011 | vitalstocks | 0 comments | Continued(LUV) Southwest Airlines Offers Fall/Winter Sale
Southwest Airlines (LUV), a leading domestic carrier in the U.S. announced discounts on its flight tickets for fall travel. The offer was made on the occasion of the company’s fortieth anniversary on June 21. Together with its subsidiary, AirTran, the carrier has announced...
22Jun2011 | vitalstocks | 0 comments | Continued(C) China to Allow Foreign Mutual Funds
Foreign banks can distribute mutual funds in China from October 1, 2011, following a new rule from the China Securities Regulatory Commission. The move is expected to open up opportunities for companies such as Citigroup Inc. (C) and HSBC Holdings Plc. (HBC) in the Chinese market,...
22Jun2011 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell Fortifies UK Retail Sites
The British unit of Royal Dutch Shell plc (RDSA) entered into an agreement with Rontec Investments LLP –– led by Snax 24 Consortium –– to acquire 254 petrol retail sites in the U.K. The purchase price of the deal was settled at $400 million or £240 million. Management...
22Jun2011 | vitalstocks | 0 comments | Continued(DUK) Duke Energy Raises Dividend
Duke Energy Corporation (DUK) raised the quarterly cash dividend on its common stock by 5 cents to 25 cents per share. This action increases the annualized dividend from 98 cents to $1.00. The dividend is payable on September 16, 2011 to shareholders of record at the close of...
22Jun2011 | vitalstocks | 0 comments | Continued(LMNX) Luminex Gets EraGen for $34M
Luminex Corporation (LMNX), a developer of biological testing technologies, has forged a definitive agreement to buy Madison, Wisconsin-based privately-held diagnostic testing company EraGen Biosciences, Inc. for $34 million in cash. The transaction, which is subject to the clearance...
22Jun2011 | vitalstocks | 0 comments | Continued(SO) Southern Company at Fair Valuation
We have maintained our Neutral recommendation on electric utility firm Southern Company (SO) with a price target of $41. Headquartered in Atlanta, Georgia, Southern Company is the second largest generator of electricity in the nation behind Exelon Corp. (EXC), serving both regulated...
22Jun2011 | vitalstocks | 0 comments | Continued(LOGI) Logitech International Signs Agreement With GN Netcom
Logitech International (LOGI) has signed an agreement with GN Netcom to firm its base in the Unified Communications (UC) market. As per the agreement, beginning July 2011, Logitech will offer select products from the award-winning line of Jabra headsets and speakerphones through...
22Jun2011 | vitalstocks | 0 comments | Continued(IM) Ingram Micro in Twin Distribution Deals
Ingram Micro Inc. (IM) sealed two distributor deals in two days. The leading distributor of information technology (IT) entered into agreements with Revolabs Inc., a provider of wireless audio products, and Kaspersky Lab, an ace provider of Internet security. The deal with Revolabs...
22Jun2011 | vitalstocks | 0 comments | Continued(LEN) Lennar Second Quarter 2011 Earnings Preview
Lennar Corp. (LEN) announced that it will release its second quarter 2011 results before the market opens on June 23, 2011. Miami, Florida-based Lennar Corp. earned a profit of 14 cents per share in the first quarter, comprehensively beating the Zacks Consensus Estimate of a...
22Jun2011 | vitalstocks | 0 comments | Continued(APOG) Apogee Enterprises Beats Estimates
The leader in technologies for the design and development of value-added glass products Apogee Enterprises Inc. (APOG) recently announced fiscal 2012 first quarter results, minimizing its per share loss to 8 cents from 13 cents in the year-earlier quarter, ahead of the Zacks...
22Jun2011 | vitalstocks | 0 comments | Continued(AVT) New Contracts for Avnet EM
Avnet Electronics Marketing (EM) Americas, a division of Avnet Inc. (AVT) recently collaborated with NXP and introduced Speedway Design Workshop, USB Made Easy. Based on NXP’s Cortex-M USB portfolio, USB Made Easy will assist designers in developing USB applications. These...
22Jun2011 | vitalstocks | 0 comments | Continued(MI) Marshall & Ilsley Corporation and Bank of Montreal Merger Gets Regulatory Nod
Marshall & Ilsley Corporation (MI) and Bank of Montreal (BMO) merger deal is right on track for completion, following the final regulatory approval on Tuesday. With this regulatory nod, the parties have finally garnered all necessary approvals required to complete the merger. With...
22Jun2011 | vitalstocks | 0 comments | Continued(BAC) Bank of America Plans to Double Financial Solution Advisors
On Tuesday, Bank of America Corporation (BAC) announced its plan to hire more than 500 Financial Solution Advisors (FSAs) by the end of this year, bringing the total number of FSAs to about 1,000. This move fits well with BofA’s overall strategy to improve solutions and guidance...
22Jun2011 | vitalstocks | 0 comments | Continued(CCL) Carnival Beats Second Quarter Estimates
Carnival Corporation (CCL) reported second quarter 2011 earnings of 26 cents per share, surpassing the Zacks Consensus Estimate of 22 cents but deteriorating from 32 cents earned in the year-ago quarter. While the earnings were aided by better-than-expected net revenue yields...
22Jun2011 | vitalstocks | 0 comments | Continued(ISR) IsoRay Begins Prostate Cancer Trial
Medical isotope maker IsoRay Inc (ISR) has initiated a new combination therapy study using its Cesium-131 (an isotope) internal radiation therapy (“brachytherapy”) and external beam radiation. The study has been designed to evaluate the effectiveness of combining Cesium-131...
22Jun2011 | vitalstocks | 0 comments | Continued(JCI) Johnson Controls European Buyout Enhances
Johnson Controls Inc. (JCI) announced that it has completed the acquisition of two European business entities, Keiper recliner systems and Recaro seating business in Germany, after getting approval from the European Commission in Brussels, Belgium on June 17, 2011. Keiper is...
22Jun2011 | vitalstocks | 0 comments | Continued