Archive for June, 2011
(MON) Monsanto 2011 Third Quarter Earnings Preview
Agricultural product major Monsanto Company (MON) will unveil its third- quarter earnings on Wednesday, June 29, 2011. The company will be an attractive stock to watch, as it has been in turnaround mode. The third quarter 2011 Zacks Consensus Estimate for earnings per share (EPS)...
29Jun2011 | vitalstocks | 0 comments | Continued(BSDM) BSD Medical Makes Classic Pact
Cancer treatment systems maker BSD Medical Corp (BSDM) has forged an exclusive distribution pact with Classic Medical Inc. (Classic Medical) for its MicroThermX Microwave Ablation system for soft tissue ablation (destruction). Classic Medical is a leading distributor of minimally-invasive...
29Jun2011 | vitalstocks | 0 comments | Continued(RTN) Raytheon Builds Alabama Unit
The Missile System unit of Raytheon Company (RTN) yesterday started construction of an all-up-round Standard Missile production facility in Huntsville, Alabama. The construction will come up on the U.S. Army’s Redstone Arsenal site. Raytheon said it will construct the 70,000...
29Jun2011 | vitalstocks | 0 comments | Continued(MET) Metlife to Add Turkish Unit
According to media reports, Dexia SA will vend Deniz Emeklilik & Hayat AS, the insurance unit of Denizbank AS, Dexia’s bank in Turkey to Metlife Inc. (MET) for €161.9 million. Concurrently, France’s AXA is negotiating the distribution of property and casualty insurance...
29Jun2011 | vitalstocks | 0 comments | Continued(IEX) IDEX Closes Credit Facility
IDEX Corporation (IEX) announced the completion of its $700 million new five-year senior revolving credit facility with a consortium of 12 financial institutions. The credit facility was co-led by Bank of America (BAC), JP Morgan Chase (JPM), and Wells Fargo (WFC). The co-documentation...
29Jun2011 | vitalstocks | 0 comments | Continued(NTRS) Northern Trust Analyst Stays Neutral on Shares
We are maintaining our Neutral recommendation on Northern Trust Corporation (NTRS) based on favorable acquisition spree and global expansions of the company. In May 2011, Northern Trust agreed to acquire Omnium LLC, a leading hedge fund administrator, from Citadel. The acquisition...
29Jun2011 | vitalstocks | 0 comments | Continued(GS) Goldman Sachs Group Increases Brazil Workforce
Goldman Sachs Group Inc. (GS) plans to augment its workforce in Brazil by approximately 20% in 2011. The company aims to increase its hiring following growth in the Brazilian economy compared to its home market. Goldman’s Brazilian unit has headcount of about 300 so far this...
29Jun2011 | vitalstocks | 0 comments | Continued(AMGN) Amgen Seeks Label Expansion
Amgen (AMGN) is looking to gain approval for additional indications of Xgeva. The company recently submitted a supplemental Biologics License Application (sBLA) seeking US Food and Drug Administration (FDA) approval for Xgeva (denosumab) for the reduction of the risk of developing...
29Jun2011 | vitalstocks | 0 comments | Continued(ABT) Abbott Labs and Reata Pharmaceuticals Present New Phase II Data
Abbott Labs (ABT) and partner Reata Pharmaceuticals, Inc. recently announced the presentation of new phase II data on bardoxolone methyl. In addition to being posted online in The New England Journal of Medicine, the data were also presented at the European Renal Association-European...
29Jun2011 | vitalstocks | 0 comments | Continued(NVO) Novo Nordisk Presents Diabetes Study Data
Recently, Novo Nordisk (NVO) presented data from two extension studies of its lead diabetes drug Victoza at the American Diabetes Association. Victoza is currently marketed as a once-daily human Glucagon-Like Peptide- 1 (GLP-1) analogue for the treatment of type II diabetes. The...
29Jun2011 | vitalstocks | 0 comments | Continued(ARW) Arrow Electronics Expands in China with Seed
New York-based electronics parts distributor Arrow Electronics, Inc. (ARW) recently signed a definitive agreement to acquire all of the assets and operations of the distribution business of Seed International Ltd. in a move to strengthen its presence in China. Headquartered in...
29Jun2011 | vitalstocks | 0 comments | Continued(PKI) PerkinElmer Analyst Upgrades Shares to Outperform
We upgrade our rating on PerkinElmer (PKI) to Outperform based on solid results and benefits accruing from extensive reorganization. First-quarter 2011 earnings per share of 34 cents surpassed the Zacks Consensus Estimate of 30 cents. Revenues from continuing operations came...
29Jun2011 | vitalstocks | 0 comments | Continued(BPO) Brookfield Office Properties Eyes Australian Assets
Brookfield Office Properties Inc. (BPO) is all set to acquire two office towers in Melbourne and Perth, respectively, named Southern Cross West and Bank West Tower for a total consideration of approximately $263 million. The acquisition will be managed by Brookfield Prime Property...
29Jun2011 | vitalstocks | 0 comments | Continued(S) Sprint Nextel Offers 4G WAN to Enterprises
The third-largest U.S. wireless carrier, Sprint Nextel Corp. (S) has announced that it will offer Fourth Generation (4G) Enterprise Wide Area Network (WAN) to its corporate customers. The 4G Enterprise WAN is a fixed wireless access that promises faster, better and secure service...
29Jun2011 | vitalstocks | 0 comments | Continued(DGX) Quest Diagnostics Seeks Regular Colon Test
Leading diagnostics player Quest Diagnostics (DGX) is dissatisfied with the outcome of a nationwide study that it had carried out along with the Colon Cancer Alliance. The data demonstrated that one in three of men and women aged 60-70 have been screened for colon cancer only...
29Jun2011 | vitalstocks | 0 comments | Continued(UAL) United-Air Canada Joint Venture Suspended
The Canadian regulator has blocked the extended alliance between the largest U.S. airline United Continental Holdings Inc. (UAL) and Canada’s No. 1 air carrier Air Canada on antitrust grounds. Currently, the carriers are jointly managing their fares and schedules as well as...
29Jun2011 | vitalstocks | 0 comments | Continued(APEI) American Public Education Retains Neutral Recommendation
American Public Education (APEI) has carved a unique niche for itself in the online post secondary education industry by focusing on recruits serving the U.S. military as well as federal, national, and local law enforcement personnel. Moreover, the company’s part-time programs...
29Jun2011 | vitalstocks | 0 comments | Continued(FTI) FMC Technologies and Royal Dutch Shell in Supply Deal
Offshore oilfield equipment manufacturer FMC Technologies Inc. (FTI) entered into an agreement with the Australian unit of Royal Dutch Shell plc (RDSA) for the supply of subsea production and associated topside systems. These equipments will be utilized for the development of...
29Jun2011 | vitalstocks | 0 comments | Continued(DEO) Diageo Gets Permit to Enter China
The world’s largest spirits group, Diageo Plc. (DEO), got approval of the Chinese authorities to increase its stake in the Quanxing Group, a Chinese white spirits group based in Sichuan Province, taking its share to 53 per cent. On being the majority shareholder of Quanxing...
29Jun2011 | vitalstocks | 0 comments | Continued(TOL) Toll Brothers Faces Rating Cut
Toll Brothers Inc. (TOL) has been recently downgraded by Standard & Poor’s Rating Services to a “BB-plus” status from a prior “BBB-minus.” The cut in corporate credit rating implies the company’s weak prospects in the near term. The housing market...
29Jun2011 | vitalstocks | 0 comments | Continued(BMY) Bristol-Myers Squibb Company Presents Data on Two Studies
Recently, Bristol-Myers Squibb Company (BMY) and partner AstraZeneca (AZN) presented encouraging data from two late-stage studies which evaluated their type II diabetes candidate dapagliflozin in conjunction with the extended-release version of metformin (XR). Data from the two...
29Jun2011 | vitalstocks | 0 comments | Continued(LMNX) Luminex Wraps Up EraGen Buy
Luminex Corporation (LMNX), a developer of biological testing technologies, has completed its previously-announced acquisition of privately-held diagnostic testing company EraGen Biosciences, Inc. for $34 million in cash. The companies struck a definitive agreement on June 21. Madison,...
29Jun2011 | vitalstocks | 0 comments | Continued(GD) General Dynamics Takes Off with Rocket Order
General Dynamics Corp. (GD) said it has won a $286 million contract from the U.S. Army to manufacture air-to-ground rockets. The contract was awarded by the U.S. Army Contracting Command in Redstone Arsenal, Alabama, exercising option for fiscal year 2011 on an existing contract. Under...
29Jun2011 | vitalstocks | 0 comments | Continued(HBC) HSBC Holdings Saudi Arm to Join SABB Securities
HSBC Holdings Plc (HBC) announced that its Saudi Arabian wholesale and investment banking unit, HSBC Saudi Arabia, would merge with SABB Securities Ltd., a wholly-owned brokerage and custody business unit of The Saudi British Bank. However, the company did not disclose the terms...
29Jun2011 | vitalstocks | 0 comments | Continued(JCI) Johnson Controls Thrives on Advanced Battery
Johnson Controls Inc. (JCI) plans to invest $138.5 million to convert its battery plant near Toledo, Ohio into an Absorbent Glass Mat (AGM) battery facility. The AGM battery facility, the first in the U.S., will help the company manufacture Start-Stop and other batteries for...
29Jun2011 | vitalstocks | 0 comments | Continued(HCBK) Hudson City Bancorp Analyst Cuts to Underperform
We are downgrading our recommendation on Hudson City Bancorp Inc. (HCBK) to Underperform from Neutral considering its fundamentals, dividend cut, restructuring initiatives and the current low interest rate environment. Hudson City reported a loss of $555.7 million or $1.13 per...
29Jun2011 | vitalstocks | 0 comments | Continued(NSANY) Nissan Pins Hopes on Mexico
Nissan Motor Co. (NSANY) revealed that it anticipates production level to go up by 20% at its Mexican operations in 2011 compared with 2010. In 2010, it produced 506,494 vehicles. The company has considered Mexico as one of its fast-growing markets like Brazil in Latin America....
29Jun2011 | vitalstocks | 0 comments | Continued(SYK) Stryker Completes Orthovita Tender
Orthopedic devices major Stryker Corp (SYK) reported the successful completion of its $3.85 per share tender offer for its previously-announced acquisition of Pennsylvania-based orthobiologic and biosurgery products maker Orthovita Inc (VITA). The offer, which was launched in...
29Jun2011 | vitalstocks | 0 comments | Continued(STO) Statoil ASA Focuses on Offshore Wind
Norway-based Statoil ASA (STO), through its subsidiary, has signed two contracts for the sale of a major part of its key onshore wind power assets. This forms a part of Statoil’s endeavors to concentrate on the offshore market. The first contract consists of the sale of 50%...
29Jun2011 | vitalstocks | 0 comments | Continued(ABX) Barrick Gold to Win $3.3 Billion Mining Rights
Barrick Gold Corporation (ABX) and its Chilean-based partner Antofagasta are likely to succeed mining rights for a $3.3 billion copper and gold project in Pakistan. Tethyan Copper Co. (TCC), a joint venture between Barrick Gold and Antofagasta, one of the world’s largest...
29Jun2011 | vitalstocks | 0 comments | Continued