Archive for June, 2011
(BBY) Best Buy Raises Dividend and Approves Share Buyback
Best Buy Company Inc. (BBY), in its attempt to optimize its shareholders’ return, decided to employ its available free cash in raising its quarterly dividend and also approved a share buyback program. The leading specialty retailer of consumer electronic products, home office...
22Jun2011 | vitalstocks | 0 comments | Continued(XOM) Exxon Mobil’s Singapore Unit Deferred
Exxon Mobil Corp. (XOM) has postponed the start-up of its 1 million tons-per-year (tpy) ethylene cracker in its second petrochemical complex in Jurong Island, Singapore by over a year. The operations, which were expected to start by the end of 2011, have been deferred to the...
22Jun2011 | vitalstocks | 0 comments | Continued(VVUS) Vivus’ Erectile Dysfunction Drug on Track
Vivus Inc. (VVUS) recently reported positive results from a late-stage trial, REVIVE-RP (TA-303), on avanafil. The study evaluated the safety and efficacy of avanafil in the treatment of erectile dysfunction (ED) following bilateral, nerve-sparing, radical prostatectomy. The...
22Jun2011 | vitalstocks | 0 comments | Continued(NOK) Nokia Reverts Back to MeeGo
When the whole world was waiting eagerly for Nokia’s Windows Phone 7-based smartphones, Nokia Corporation (NOK), the world’s largest mobile phone maker again stuns everyone by unveiling a new smartphone, N9. The new device will be powered by the Linux-based MeeGo software,...
22Jun2011 | vitalstocks | 0 comments | Continued(OMCL) Omnicell’s Electronic Health Record Wins Certification
Omnicell, Inc. (OMCL), a leading developer and marketer of end-to-end automation solutions for the medication-use process, recently announced that its newly launched G4 platform received the ONC-ATCB certification as a Modular Electronic Health Record (“EHR”). Omnicell...
22Jun2011 | vitalstocks | 0 comments | Continued(KKD) Krispy Kreme Doughnuts Fortifies Base in South Carolina
Winston-Salem, North Carolina-based Krispy Kreme Doughnuts, Inc (KKD), which currently owns and operates 86 stores and franchises 566, has opened its second neighborhood shop in Columbia, South Carolina. The company opened its first 2,000-square feet store in Columbia in May...
22Jun2011 | vitalstocks | 0 comments | Continued(SGMS) Scientific Games Extends Contract with Georgia Lottery Corporation
Scientific Games Corp. (SGMS) recently signed a five-year contract extension agreement with Georgia Lottery Corporation. Under the terms of the contract, Scientific Games will serve as the primary vendor supplying instant tickets and related services including game design, marketing,...
22Jun2011 | vitalstocks | 0 comments | Continued(FDX) FedEx Tops Earnings Forecast on Strong Volume
Before the opening bell, FedEx Corporation (FDX), the world’s second-largest package delivery company, reported fourth quarter 2011 adjusted earnings of $1.75 per share. The quarter’s earnings outpaced the Zacks Consensus Estimate by 3 cents and increased 32% from $1.33...
22Jun2011 | vitalstocks | 0 comments | Continued(P) Pandora Now Trades On Hope
by Ryan Cole, Investment U Research Tuesday, June 21, 2011 After Pandora’s strong opening IPO, the company quickly came back to earth. As of this writing, the stock has dropped well below its IPO price of $16. Investors are wary of the company’s long-term prospects....
22Jun2011 | InvestmentU | 0 comments | Continued(IMF) Stock Market News for June 22, 2011 – Market News
Markets ended in the green for the fourth consecutive day after Greece’s Prime Minister won a confidence vote which may help the nation avoid a sovereign debt default. While the technology and energy sectors chipped in to bolster the benchmarks, a smaller-than-expected decline...
22Jun2011 | vitalstocks | 0 comments | Continued(ADBE) Company News for June 22, 2011 – Corporate Summary
• Walgreen Co. (NYSE:WAG) reported Q3 EPS of $0.65, above the Zacks Consensus Estimate of $0.62 per share. Revenues for the quarter grew 6.8% year-over-year to $18.37 billion, beating the Zacks Consensus Estimate of $18.277 billion • Adobe (NASDAQ:ADBE) reported...
22Jun2011 | vitalstocks | 0 comments | Continued(FDX) The Federal Reserve in Focus
The positive stock market momentum of the last four days provides a favorable backdrop for Ben Bernanke’s second news conference, which takes place this afternoon. The Greek vote and solid earnings report from FedEx (FDX) should help sustain the optimistic tone in the...
22Jun2011 | vitalstocks | 0 comments | Continued(IVR) Invesco Mortgage Capital Announced Stock Offering
Yesterday, Invesco Mortgage Capital Inc. (IVR) announced its plan to offer 15 million shares of its common stock. Underwriters will be permitted a 30-day option to purchase up to an added 2.25 million shares to cover over-allotments. Credit Suisse Securities (USA) LLC, a subsidiary...
22Jun2011 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services Earnings Preview
Electronic payment processor in the US, Discover Financial Services (DFS) is scheduled to release its second quarter results before the market opens on June 23, 2011. The Zacks Consensus Estimate for the second quarter is 66 cents per share, representing about 100% growth over...
22Jun2011 | vitalstocks | 0 comments | Continued(BBY) Best Buy Company Earnings Scorecard
Best Buy Company, Inc. (BBY), the leading specialty retailer of consumer electronic products, recently posted better-than-expected first-quarter 2012 results. Street analysts had over a week to ponder on the company’s scores. In the paragraphs that follow, we cover the recent...
22Jun2011 | vitalstocks | 0 comments | Continued(BAC) Bank of America Eyes Divesting CCB Stake
On Monday, Bloomberg reported that Bank of America Corporation (BAC) would sell a part of its holdings in China Construction Bank (CCB) later this year, in order to strengthen its capital. However, the company will continue to be a strategic investor in CCB, the world’s second...
22Jun2011 | vitalstocks | 0 comments | Continued(USM) U.S. Cellular in Neutral Lane
U.S. Cellular Corporation (USM), the sixth largest wireless telecom operator in the U.S., continues to expand its advanced data services by incorporating fast, high-quality 4G Long-Term Evolution (LTE) technology. Additionally, the booming smartphone market has encouraged the...
22Jun2011 | vitalstocks | 0 comments | Continued(CVS) CVS Caremark to Manage CalPERS PPO
Recently, the California Public Employees’ Retirement System (CalPERS) selected CVS Caremark (CVS) to manage pharmacy benefits for its preferred provider organization (PPO) health plans, catering to more than 346,000 members. The three-year contract, to be effective from January...
22Jun2011 | vitalstocks | 0 comments | Continued(MYL) Trial Date for Teva Pharmaceuticals / Mylan Dispute
Mylan Inc. (MYL) received some good news recently when a US District court denied Teva Pharmaceuticals Industries’ (TEVA) motion for a summary judgment, finding no inequitable conduct in the Copaxone infringement lawsuit. The court has ordered that the trial for inequitable...
22Jun2011 | vitalstocks | 0 comments | Continued(BA) Boeing Richer with New Orders
The Boeing Company (BA) received two orders for its 747-8 Intercontinental aircraft from undisclosed customers worth $5.4 billion. The transactions involve a total of 17 aircraft, taking the order backlog for the aircraft series to 50. The 747-8 Intercontinental has a capacity...
22Jun2011 | vitalstocks | 0 comments | Continued(ATI) Allegheny Technologies Incorporated Teams with Rolls Royce
One of the world’s largest specialty metals producers Allegheny Technologies Incorporated (ATI) signed a long-term contract with Rolls-Royce for the supply of ATI 718Plus Alloy for the period stretching from 2011 till 2024. The ATI 718Plus is a nickel based super-alloy that...
22Jun2011 | vitalstocks | 0 comments | Continued(ENDP) Endo Pharmaceuticals Holdings Buys American Medical
Recently, Endo Pharmaceuticals Holdings Inc. (ENDP) completed the purchase of American Medical Systems, a leading pelvic-health device provider, in an all cash deal worth approximately $2.9 billion. By acquiring American Medical, Endo Pharma, a US-based specialty healthcare solutions...
22Jun2011 | vitalstocks | 0 comments | Continued(FDX) FedEx 2011 Fourth Quarter Earnings Preview
FedEx Corporation (FDX), the world’s second-largest package delivery company, is slated to release its fourth quarter 2011 earnings on June 22, before market opens. The current Zacks Consensus Estimate for the fourth quarter is $1.72, representing a substantial 29.35% annual...
22Jun2011 | vitalstocks | 0 comments | Continued(COG) Cabot Oil & Gas – Bull of the Day
We are upgrading Cabot Oil & Gas Corp. (COG) shares to Outperform from Neutral, reflecting the company’s impressive exposure to the high-return Marcellus and Haynesville Shale plays, as well as its above-average production growth. Furthermore, the capital infusion of...
22Jun2011 | vitalstocks | 0 comments | Continued(JDSU) JDS Uniphase – Bear of the Day
We have downgraded our recommendation on JDS Uniphase (JDSU) to Underperform. Recent trends in the optical component industry indicate a glut of inventory on the part of the telecom carriers. The North American and European markets have yet to completely recover from the recession. In...
22Jun2011 | vitalstocks | 0 comments | Continued(INTC) McAfee Offering Mobile Security
McAfee, a wholly owned subsidiary of Intel Corporation (INTC), has announced a couple of products targeted at the smartphone and tablet markets. While the smartphone product, dubbed McAfee Mobile Security, is for all smartphones, the WaveSecure tablet edition is specially designed...
21Jun2011 | vitalstocks | 0 comments | Continued(CHU) More Users Join China Unicom in May
China’s second largest mobile operator China Unicom (CHU) added 2.33 million subscribers in May, up 1.32% from the prior month. This takes the company’s total customer base to 179.34 million. The company’s GSM subscriber base expanded to 157.25 million with the net...
21Jun2011 | vitalstocks | 0 comments | Continued(SHW) U.S. Used Home Sales – Prices Fall
In May, Existing Home Sales ran at a seasonally adjusted annual rate of 4.81 million. That pace is 3.1% lower than in April, and 15.3% below the year-ago rate. The year-ago numbers were somewhat inflated due to the end of the homebuyer tax credit. The April sales rate was slightly...
21Jun2011 | vitalstocks | 0 comments | Continued(JPM) JPMorgan Chase and Royal Bank of Scotland PLC Accused of Deceit
The U.S. credit union regulator, the National Credit Union Administration (NCUA), sued JPMorgan Chase & Co. (JPM) and Royal Bank of Scotland PLC (RBS) on Monday alleging that these banks had deceived five large credit unions by selling more than $3 billion high-risk mortgage-backed...
21Jun2011 | vitalstocks | 0 comments | Continued(ABM) ABM Industries Upgraded to Neutral
ABM Industries Inc. (ABM) reported fiscal second-quarter EPS of 28 cents, up 22% year over year and net sales of $1.06 billion that grew 24% over the prior year. This marked the reversal of eight straight quarters of negative organic growth. The encouraging results buttressed...
21Jun2011 | vitalstocks | 0 comments | Continued