Archive for June, 2011
(ABT) Abbott Labs’ Bardoxolone in Phase III Trials
Abbott Labs (ABT) and partner Reata Pharmaceuticals, Inc. recently commenced a pivotal phase III study with bardoxolone methyl. Bardoxolone methyl’s safety and efficacy will be evaluated in patients with chronic kidney disease and type II diabetes. Study Design The multinational,...
19Jun2011 | vitalstocks | 0 comments | Continued(STO) Statoil ASA Reaches Leismer Milestone
Norwegian operator Statoil ASA (STO) has reached a production milestone of 1 million barrels of oil at its Leismer Demonstration Project (LDP) in northern Alberta, Canada. Although oil sands require long-term investments, Statoil has the capability to carry out development in...
19Jun2011 | vitalstocks | 0 comments | Continued(KGC) Kinross Gold Invests in Edgewater Exploration
The Canadian mining company Kinross Gold Corporation (KGC) announced that it intends to purchase 625,000 units of Edgewater Exploration Ltd. in a private placement, for C$500,000.The private placement is subject to approval by the TSX Venture Exchange. After the private placement...
19Jun2011 | vitalstocks | 0 comments | Continued(LH) Laboratory Corporation of America Holdings Extends Orchid Tender Offer
Laboratory Corporation of America Holdings (LH) has decided to extend the tender offer for Orchid Cellmark (ORCH) till July 15, 2011. Earlier, in May 2011, the company received a request from the Federal Trade Commission (FTC) for some additional information related to the transaction....
19Jun2011 | vitalstocks | 0 comments | Continued(AA) Alcoa Re-aligns for China
Alcoa Inc. (AA) stated that the company’s Asia-Pacific regional headquarters will report to Alcoa’s Business Excellence and Corporate Strategy organization, which is part of an initiative to support the expanding footprint of Alcoa’s three business groups in...
19Jun2011 | vitalstocks | 0 comments | Continued(BA) Boeing Sees $4 Trillion Commercial Aircraft Market
The Boeing Company (BA) estimates a $4 trillion market for new commercial airplanes in the next 20 years, according to its 2011 Current Market Outlook. The company’s annual commercial aviation market analysis foresees a market for 33,500 new passenger airplanes and freighters...
19Jun2011 | vitalstocks | 0 comments | Continued(CPB) Campbell’s Risk-Reward Balances
We are maintaining a long-term ‘Neutral’ recommendation on Campbell Soup Company (CPB) with a target price of $35.00 per share. Moreover, the company has a Zacks #3 Rank, implying a short-term ‘Hold’ rating on the stock. Campbell Soup is one of the world’s...
19Jun2011 | vitalstocks | 0 comments | Continued(EIA) Natural Gas Supplies Rise as Expected
The U.S. Energy Department’s weekly inventory release showed an in-line build-up in natural gas supplies, as a production drop was offset by reduced natural gas cooling demand on the back of moderating weather. The Weekly Natural Gas Storage Report – brought out by the...
18Jun2011 | vitalstocks | 0 comments | Continued(SHLD) Sears Holdings Downgraded on Weak Results
We have downgraded our prior long-term ‘Neutral’ recommendation on Sears Holdings Corporation (SHLD) to ‘Underperform’ with a target price of $62.00 per share. Moreover, the company holds a Zacks #5 Rank, implying a short-term ‘Strong Sell’...
17Jun2011 | vitalstocks | 0 comments | Continued(ATVI) Activision Blizzard to Release Annihilation
Activision Blizzard Inc. (ATVI), a leading developer, publisher and distributor of interactive entertainment and leisure products, announced a new content pack of Call of Duty: Black Ops that will release on June 28, 2011. The content pack, known as Annihilation, will be launched...
17Jun2011 | vitalstocks | 0 comments | Continued(HRS) Harris’ Winning Spree Continues
A leading supplier of communications equipment and services, Harris Corp. (HRS) recently won a $5 million contract from the U.S. Marine Corps. The acquisition of Falcon III AN/PRC-117G Multiband Manpack tactical radios by the U.S. Marine department will help them to provide better...
17Jun2011 | vitalstocks | 0 comments | Continued(KONA) Kona Grill’s CEO Resigns (revised)
Scottsdale-based Kona Grill, Inc. (KONA) recently announced that its Chief Executive Officer (CEO) and President Marc A. Buehler has resigned to pursue other opportunities. Buehler joined the American grill and sushi bar company as the CEO and President in November 2009 and took...
17Jun2011 | vitalstocks | 0 comments | Continued(CFI) Company News for June 17, 2011 – Corporate Summary
• Shares of Virginia-based bank Capital One Financial (NYSE:COF) rose 2.36% after the bank announced plans to purchase ING’s U.S. online bank. The deal will help Capital One become the fifth largest U.S. bank in terms of assets • Share prices of The Kroger...
17Jun2011 | vitalstocks | 0 comments | Continued(XLF) Stock Market News for June 17, 2011 – Market News
Except the Nasdaq, all the benchmarks closed higher on Thursday as investor sentiment was somewhat lifted by economic reports. However, concerns about Greece’s debt situation kept gains in check. The gains made during a volatile trading session were also attributable to the...
17Jun2011 | vitalstocks | 0 comments | Continued(S) Sprint Nextel Ventures Safe Browsing
The third-largest U.S. wireless carrier Sprint Nextel Corp. (S) has inked a deal with Lookout Mobile Security, a software company that specializes in smartphone security. The deal draws attention to Sprint’s attempt to ensure safe browsing on mobile devices. The company is...
17Jun2011 | vitalstocks | 0 comments | Continued(AKS) Heavy Metal Earnings Surge
No less than five steel stocks currently carry the esteemed Zacks #1 Rank (strong buy) this week. And four of the five have been there for over a month. In the list below, the first three are classified as standard producers and occupy a Zacks Industry Rank of 163, near the bottom...
17Jun2011 | vitalstocks | 0 comments | Continued(PC) Hewlett-Packard Wins Contract from LeaseWeb
The world’s largest personal computer (PC) maker, Hewlett-Packard Company (HPQ) has recently won a business deal from one of Europe’s largest Internet hosting providers, LeaseWeb. As per the terms of the agreement, the largest PC maker is expected to implement HP ProLiant...
17Jun2011 | vitalstocks | 0 comments | Continued(EXM) Excel Maritime Carriers Improves TC Contract
Excel Maritime Carriers Ltd. (EXM), a leading worldwide seaborne transporter for dry bulk cargoes, recently improved and consolidated the time charter contracts for its fleets. The company announced that it has entered into 2-year time charter agreement with first class European...
17Jun2011 | vitalstocks | 0 comments | Continued(CTIC) Cell Therapeutics Set to Resubmit Pixantrone NDA
Cell Therapeutics (CTIC) recently met with the Division of Oncology Drug Products (the DODP) of the US Food and Drug Administration (FDA) and received guidance for resubmission of the new drug application (NDA) for its lead pipeline candidate pixantrone. Pixantrone has been developed...
17Jun2011 | vitalstocks | 0 comments | Continued(LLY) Eli Lilly Launches Type II Diabetes Treatment Tradjenta
Eli Lilly and Company (LLY) and partner Boehringer Ingelheim Pharmaceuticals, Inc. recently announced that their type II diabetes treatment, Tradjenta (linagliptin) is now available in pharmacies across the US. Tradjenta, which has been priced at $6.77 per tablet, is available...
17Jun2011 | vitalstocks | 0 comments | Continued(BA) Boeing Lifts 737 and 777 Production Rate
The Boeing Company (BA) has decided to increase its production rate for the Next-Generation 737 to 42 airplanes per month from its current production rate of 31.5 airplanes. The company also raised production of 777 to 7 per month from 5, and plans to accelerate to 8.3 per month...
17Jun2011 | vitalstocks | 0 comments | Continued(C) Citigroup Has 360,000 Customer Cards Hacked
Citigroup Inc. (C) has revealed the extent of the recent security breach it faced after hackers got access to hundreds of thousands of its credit card customers’ information in North America. Management affirmed that around 360,083 North America Citi-branded credit cards were...
17Jun2011 | vitalstocks | 0 comments | Continued(HAL) Basic Energy Services and Key Energy Service Key to Oilfield Profits
It’s easy to think of energy companies in broad strokes. Either there are the big integrated firms, or there are hundreds of independent E&P firms, drillers, and refiners. But, of course, in between are lots of companies that specialize in providing services to all...
17Jun2011 | vitalstocks | 0 comments | Continued(TAM) TAM S.A. Analyst Downgrades Shares to Underperform
We recently downgraded our recommendation on TAM S.A (TAM) to Underperform from Neutral. We believe that the formation of LATAM due to the proposed merger of Lan Airlines and TAM S.A may abruptly push the company into a platform of sturdy competition against tougher rivals. This...
17Jun2011 | vitalstocks | 0 comments | Continued(CVX) Chevron Wins Bulgarian Approval for Shale Gas Exploration
Chevron Corp. (CVX) has secured a five-year permit from the Bulgarian government for the exploration of shale gas deposits in northeastern Bulgaria. The company will make a 30 million euro payment to the Bulgarian government to commence shale gas exploration in the field, which...
17Jun2011 | vitalstocks | 0 comments | Continued(LOW) Lowe’s Cuts Back on New Stores
As per The Street, Lowe’s Companies Inc. (LOW) has struck a policy of rewarding shareholder value via dividend payouts and share repurchases at the cost of curtailing new store openings and saving on capital expenses. The company has declared a five-year share buyback program...
17Jun2011 | vitalstocks | 0 comments | Continued(HST) Host Hotels & Resorts Hikes Dividend
Host Hotels & Resorts, Inc. (HST) a real estate investment trust (REIT) recently hiked its quarterly cash dividend by 1 cent to 3 cents per share. This translates into a massive 50% increase over the earlier dividend. The increased dividend will be paid on July 15, 2011,...
17Jun2011 | vitalstocks | 0 comments | Continued(ACI) Arch Coal Finalizes International Coal Group Deal
Arch Coal Inc. (ACI) announced the successful closing of the merger deal with International Coal Group Inc. (ICO). Following the completion of the acquisition International Coal will operate as a wholly owned subsidiary of Arch. As part of the merger, Arch completed a previously...
17Jun2011 | vitalstocks | 0 comments | Continued(RLH) Red Lion Sells Seattle Property
Red Lion Hotels Corporation (RLH) has closed the sale of its hotel in Seattle. An affiliate of Lowe Enterprises Investors has acquired the property for $71 million. The public sale process was handled by Chris Burdett of CB Richard Ellis Hotels. While the hived off property will...
17Jun2011 | vitalstocks | 0 comments | Continued(KMP) Kinder-Copano Join Williams Partners L.P.
Eagle Ford Gathering LLC, a joint venture (JV) between Kinder Morgan Energy Partners, L.P. (KMP) and Copano Energy, L.L.C. (CPNO), entered into a long-term agreement to provide midstream services to Williams Partners L.P. (WPZ) at the Markham processing plant. The deal entitles...
17Jun2011 | vitalstocks | 0 comments | Continued