Archive for June, 2011
(CAT) Caterpillar Sales Improve in May
Caterpillar Inc. (CAT) recently reported sales statistics for the month of May, indicating a strong month in which sales shot up 52% on a year-over-year basis, across the globe. However, after registering global sales growth of 66% in the month of April, the highest so far in...
21Jun2011 | vitalstocks | 0 comments | Continued(BP) BP Plc Secures $75 Million from Weatherford International
BP Plc (BP “> ) has rea ched an agreement with an affiliate of Weatherford International Ltd. (WFT) that settles all claims between the companies related to last year’s Macondo oil spill in the Gulf of Mexico (GoM). Per the deal, BP will indemnify Weatherford against...
21Jun2011 | vitalstocks | 0 comments | Continued(GM) General Motors Recalls Cadillac on SW Glitch
General Motors Company (GM) announced that it would recall 50,500 units of Cadillac SRX luxury crossover vehicles due to a software glitch that may cause non-deployment of airbags in case of an accident, leading to injuries for ones sitting in the right rear seat. GM officials...
21Jun2011 | vitalstocks | 0 comments | Continued(ECL) Ecolab Wins Carbon-Value Award
Leading cleaning and sanitation products maker Ecolab Inc (ECL) has clinched the prestigious “International Carbon-value Innovative Value Award” at the annual World Economic and Environmental Conference (“WEC”) in Qingdao, China. The WEC and the award selection event...
21Jun2011 | vitalstocks | 0 comments | Continued(RMBS) Two Harbors Investment Corporation – Hefty 2011 Dividends?
According to Bedford Report that provides in-depth analysis and business research on equities, Two Harbors Investment Corp. (TWO) – a real estate investment trust (REIT) that primarily invests in residential mortgage-backed securities (RMBS), is likely to maintain a strong...
21Jun2011 | vitalstocks | 0 comments | Continued(TRV) The Travelers Companies Closes Brazilian Buy
The Travelers Companies, Inc. (TRV) wrapped up the acquisition of J. Malucelli Participações em Seguros e Resseguros S.A., a market leader in the surety insurance business in Brazil. Initially in November 2010, Travelers inked the deal to acquire the 43% stake in the Brazilian...
21Jun2011 | vitalstocks | 0 comments | Continued(OGE) OGE Energy Corporation Hikes Power Rates in Arkansas
Arkansas Public Service Commission has approved an order with a general rate increase of $8.8 million for OGE Energy Corporation’s (OGE) subsidiary OG&E. The rate hikes will be implemented from July 1, 2011. For an Arkansas residential customer using 1,000 kilowatt-hours...
21Jun2011 | vitalstocks | 0 comments | Continued(STO) Statoil Sets Long-Term Goals
Statoil ASA (STO) has set long-term growth goals for itself. The Norwegian company expects production to exceed 2.5 million barrels of oil equivalents per day in 2020 from 1.9 million barrels in 2010. For the past ten years, Statoil’s production grew at a compound annual growth...
21Jun2011 | vitalstocks | 0 comments | Continued(F) Ford Motor Races in Europe with 20 New Cars
Ford Motor Co. (F) announced its plan to roll out as many as 20 new models in Europe over the next three years in order to boost car sales in the continent. The company will also expand capacity at some of the plants in and around Europe in order to support the new model launches. The...
21Jun2011 | vitalstocks | 0 comments | Continued(CELG) Celgene Corporation Wins Label Expansion for Istodax
Recently, the US Food and Drug Administration (FDA) delivered a boost to Celgene Corporation (CELG) by approving its cancer drug Istodax (romidepsin) for an additional indication. The US regulatory body granted accelerated approval to Istodax for treating patients suffering from...
21Jun2011 | vitalstocks | 0 comments | Continued(REGN) Regeneron Pharmaceuticals Wins Unanious FDA Panel Approval
Recently, the Dermatologic and Ophthalmic Advisory Committee of the US Food and Drug Administration (FDA) issued a positive opinion and unanimously recommended the US approval of Regeneron Pharmaceuticals Inc.’s (REGN) eye treatment VEGF (vascular endothelial growth factor)...
21Jun2011 | vitalstocks | 0 comments | Continued(NOK) Nokia Counters UK Patent Ruling
The leading mobile phone maker in the world, Nokia Corp. (NOK) recently got involved in a legal tussle with German-based patent owning company IPCom in a UK High Court. IPCom alleged Nokia of infringing their two patents rights. However, the British High Court said that Nokia...
21Jun2011 | vitalstocks | 0 comments | Continued(WMT) Walmart Stores Shrinks for Big Gain
Retail giant Wal-Mart Stores Inc. (WMT) buys the idea “small is profitable” and gears up for opening mid-sized Walmart Market stores immediately. Management has also announced that the company plans to open 90 to 100 stores in the year ending in January and 300 by fiscal...
21Jun2011 | vitalstocks | 0 comments | Continued(PFE) Pfizer’s Chantix Could Increase Heart Risk
The US Food and Drug Administration (FDA) recently announced that Pfizer’s (PFE) smoking cessation aid Chantix (varenicline) could be linked with a small, increased risk of certain cardiovascular adverse events in patients with cardiovascular disease. The FDA’s announcement...
21Jun2011 | vitalstocks | 0 comments | Continued(STO) Statoil ASA to Use Subsea Compression
Statoil ASA (STO) is on track to boost its gas recovery rate at subsea wells in various fields. Accordingly, the Norwegian company plans to implement subsea compression — an advanced process for production enhancement — at the Gullfaks field, offshore Norway. Since...
21Jun2011 | vitalstocks | 0 comments | Continued(PGR) Progressive Approves Share Buyback
To return value to its shareholders, the board of directors of The Progressive Corporation (PGR) has authorized the company to buy back upto 75 million shares. The company is still left with 12.5 million shares as of May 31 to be bought back under the board’s June 2009...
21Jun2011 | vitalstocks | 0 comments | Continued(RAD) Rite Aid Corporation Earnings Preview
Rite Aid Corporation (RAD), the third largest retail drugstore in the U.S. based on revenues and number of stores, is scheduled to report its first-quarter financial results to be ended on May 28, 2011 before the opening bell on June 23, 2011. The current Zacks Consensus Estimate...
21Jun2011 | vitalstocks | 0 comments | Continued(PETM) PetSmart Increases Dividend
PetSmart Inc. (PETM), in its attempt to optimize its shareholders’ return, decided to employ its available free cash in raising its quarterly dividend while also approving a share buyback program. The specialty retailer of products, services, and solutions for pets raised its...
21Jun2011 | vitalstocks | 0 comments | Continued(AA) Alcoa in Joint Venture
Alcoa Inc.(AA) the largest U.S. aluminum producer, signed a memorandum with JSC Holding Inter-regional Distribution Grid Companies (JSC Holding IDGC), OJSC RUSNANO to set up a joint venture to develop and produce nano-coatings. The new JV project will manufacture anti-icing nano-coatings...
21Jun2011 | vitalstocks | 0 comments | Continued(JNJ$) Johnson & Johnson Recalls Risperdal Lot
Johnson & Johnson (JNJ) recently announced that it is voluntarily recalling one lot of Risperdal (risperidone) and one lot of a 2mg generic version of the product. The recalls were based on reports regarding an uncharacteristic odor, which could have been caused by trace...
21Jun2011 | vitalstocks | 0 comments | Continued(KCI) Kinetic Concepts Launches Wound Registry Program
Kinetic Concepts Inc. (KCI) recently collaborated with the Academy of Wound Technology to develop the Transcontinental Wound Registry (TWR), which is touted as the first worldwide registry on wound healing and wound care technologies. The company intends to present the pilot...
21Jun2011 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services Sanctions $1 Billion Buyback
Yesterday, the board of Discover Financial Services (DFS) approved and authorized a two-year share repurchase program worth $1 billion with an expected expiry on June 14, 2013. Although the approval is effective immediately, the buyback of its shares will be held from time to...
21Jun2011 | vitalstocks | 0 comments | Continued(TCO) Taubman Centers Prices Equity Offer
Taubman Centers Inc. (TCO), a real estate investment trust (REIT), has priced its equity offer of 1.75 million common shares announced recently at $56.50 each. The secondary offering is part of its strategic initiative to raise cash and repay debt. Taubman has also decided to...
21Jun2011 | vitalstocks | 0 comments | Continued(WAG) Walgreen Third Quarter 2011 Earnings Preview
Walgreen Co. (WAG) is scheduled to release its third quarter 2011 earnings on Tuesday, June 22, 2011, before the market opens. The Zacks Consensus Estimate for the third quarter is pegged at 62 cents per share. The company has already reported total sales of $18.38 billion in...
21Jun2011 | vitalstocks | 0 comments | Continued(CMCSA) Comcast Emphasizing Small Business Segment
Comcast Corp. (CMCSA) is aggressively exploiting small and mid-sized (SMB) business opportunities. The largest cable MSO in the U.S. is currently offering metro Ethernet services in 20 major U.S. markets and is expected to offer the services in most of its point-of-presences...
21Jun2011 | vitalstocks | 0 comments | Continued(ERJ) Embraer S.A. Touches Milestone – Eyes Beyond
Embraer S.A.(ERJ) has reached its 1000 order milestone for its E-Jets family of aircrafts. This remarkable achievement, which was announced at the 49th Paris Air Show conference in France, took a mere seven years after their first delivery in the E-Jet aircraft segment. The company...
21Jun2011 | vitalstocks | 0 comments | Continued(WPI) Watson Pharmaceuticals Wins Favorable Ruling Against Teva Pharmaceutical Industries
Watson Pharmaceuticals Inc. (WPI) recently announced that the United States District Court for the District of Nevada denied Teva Pharmaceutical Industries Ltd.’s (TEVA) request for a preliminary injunction and a temporary restraining order to prevent Watson Pharma from launching...
21Jun2011 | vitalstocks | 0 comments | Continued(SHLD) Sears Holdings Pleads To Move Out of Chicago
Going by the Washington Business Journal, the fourth largest broadline retailer in the United States, Sears Holdings Corporation (SHLD) has proposed the local jurisdiction of several areas in the U.S. for more than 1 million square feet area for shifting its corporate headquarter...
21Jun2011 | vitalstocks | 0 comments | Continued(IBM) IBM Unveils New SmartCloud Service
International Business Machines Corp.(IBM) has launched two new cloud based services for its clients that enable data protection and help in the faster recovery of archived data and essential applications. IBM SmartCloud Virtualized Server Recovery and IBM SmartCloud Archive,...
21Jun2011 | vitalstocks | 0 comments | Continued(LVS) Las Vegas Sands Unit Sands China to Obtain New Credit
Sands China Ltd., a majority owned subsidiary of Las Vegas Sands Corp. (LVS) announced that it will receive $3.5 billion in loan under a new credit facility. The unit will also have the option to raise an additional $1.0 billion of senior secured credit facilities. The transaction...
21Jun2011 | vitalstocks | 0 comments | Continued