Archive for June, 2011
(AEM) Agnico-Eagle Mines Mine Output Unscathed by Fire
Toronto based Agnico-Eagle Mines (AEM) announced that gold production at its Meadowbank operation in Canada’s Nunavut territory will be around 50% higher in the second half of 2011 compared with the first six months of the year. As per the company, total group production...
28Jun2011 | vitalstocks | 0 comments | Continued(SFD) Smithfield to Explore Packaged Meat
Following the pull out from the acquisition deal of Spain’s Campofrio Food Group SA in June, Smithfield Foods Inc. (SFD) is now looking for potential opportunities in packaged-meats such as in smoked ham, bacon and frozen meatballs in an effort to enhance its brand value in...
28Jun2011 | vitalstocks | 0 comments | Continued(HON) Honeywell International Tenders for EMS Tech
Honeywell International Inc.’s (HON) wholly owned subsidiary, Egret Acquisition Corp., initiated the cash tender offer to acquire all outstanding shares of EMS Technologies Inc. for $33 per share, without interest and net of applicable withholding taxes. Moreover, the company...
28Jun2011 | vitalstocks | 0 comments | Continued(DRYS) DryShips Upgraded to Neutral
We upgrade our recommendation on DryShips Inc. (DRYS) to Neutral following our view that the upcoming initial public offering of Ocean Rig deepwater drilling unit will unlock the value of its huge potential. We believe ultra deepwater drilling business will drive the stock price...
28Jun2011 | vitalstocks | 0 comments | Continued(NFLX) Can Apple’s iCloud Save Hollywood?
by Tony D’Altorio, Investment U Research Tuesday, June 28, 2011 In recent years, the bright lights of Hollywood dimmed as its revenue declined, thanks in large part to the advent of new technologies. Income streams from sales of CDs and DVDs slowed to a trickle thanks to...
28Jun2011 | InvestmentU | 0 comments | Continued(WMT) Sleepers in the E-Commerce Boom
by Justin Dove, Investment U Research Tuesday, June 28, 2011 E-commerce is one of the few areas of constant growth in the United States these days. It’s the reason Wal-Mart (Nasdaq: WMT) wants to unseat Amazon (Nasdaq: AMZN) as the leader in online retail sales. Check out...
28Jun2011 | InvestmentU | 0 comments | Continued(SHPGY) Shire to Produce More Replagal
UK-based Shire (SHPGY) recently announced that the European Medicines Agency (EMA) has increased the company’s manufacturing flexibility for Replagal (agalsidase alfa), an enzyme replacement therapy approved for treating Fabry disease. The EMA declared that Replagal can be...
28Jun2011 | vitalstocks | 0 comments | Continued(BRKA) Berkshire Hathaway’s Buffett Closes Wesco Deal
Last Friday, Berkshire Hathaway Inc. (BRKA)(BRKB) chairman and chief executive officer Warren Buffett announced that the company had successfully acquired the remaining 20% of Wesco Financial Corp., a company run and controlled by Berkshire’s vice-chairman Charles T. Munger. Wesco...
27Jun2011 | vitalstocks | 0 comments | Continued(JPM) U.S Reports Another Bank Failure – 2011 Tally Hits 48
Last Friday, U.S. regulators shuttered Clayton, Georgia-based Mountain Heritage Bank, taking the number of failed banks thus far in 2011 to 48. This follows 157 bank failures in 2010, 140 in 2009 and 25 in 2008. While the financials of bigger banks have been stabilizing on the...
27Jun2011 | vitalstocks | 0 comments | Continued(NRG) NRG Energy and ProLogis Join for New Solar Venture
NRG Energy Inc. (NRG) and ProLogis Inc. (PLD) recently joined hands for a $2.6 billion project to place solar panels on rooftops of industrial buildings in 28 states over a span of four years. The companies said that this is one of the most ambitious clean-energy projects in...
27Jun2011 | vitalstocks | 0 comments | Continued(DRI) Darden Restaurants 2011 Fourth Quarter Earnings Preview
Darden Restaurants Inc. (DRI) is slated to release its fourth quarter 2011 earnings on June 30, after market closes. The current Zacks Consensus Estimate is 99 cents for the fourth quarter (reflecting a year-over-year growth of 15.65%). Darden has outperformed the Zacks Consensus...
27Jun2011 | vitalstocks | 0 comments | Continued(UBS) Basel Wants Big Banks to Store More
On Saturday, the oversight body of the Basel Committee on Banking Supervision proposed new rules that would force the world’s biggest banks to hold extra capital on their balance sheets as protection and prevention against global financial crisis, the Associated Press reported....
27Jun2011 | vitalstocks | 0 comments | Continued(ELP) Companhia Paranaense de Energia Downgraded to Neutral
We recently downgraded our recommendation on Companhia Paranaense de Energia (ELP), also known as COPEL, from Outperform to Neutral. Copel is one of the leading Brazilian electric utility companies, which accounts for approximately 7% of total electricity production in the country. With...
27Jun2011 | vitalstocks | 0 comments | Continued(UFPI) Universal Forest Products Outlook Gloomy
Universal Forest Products Inc. (UFPI) recently announced to undertake stringent economic measures including job cuts citing weaker sales in the first five months of year 2011. The cost-reduction measures are expected to save roughly $10 million annually for the company. Sales...
27Jun2011 | vitalstocks | 0 comments | Continued(RDSA) Royal Dutch Shell plc Gets Carbon Capture Aid
Royal Dutch Shell plc (RDSA) has entered into an agreement with the governments of Alberta and Canada for the funding of its Quest Carbon Capture and Storage (CCS) project in Canada. The Alberta government will fund C$745 million for the project, while the Canadian government...
27Jun2011 | vitalstocks | 0 comments | Continued(UAL) United Continental Holdings Sees Slow Revenue Growth in Second Quarter
The largest U.S. airline United Continental Holdings Inc. (UAL) announced that it expects lower-than-expected revenue growth in the second quarter of 2011 due to tough year-over-year comparisons. Following the announcement, the shares of United Continental tumbled 11.1% and closed...
27Jun2011 | vitalstocks | 0 comments | Continued(FR) Fitch Upgrades First Industrial Realty Trust Credit Rating
Fitch Ratings, the global credit rating firm, has recently upgraded the credit rating of First Industrial Realty Trust, Inc. (FR), a real estate investment trust (REIT), based on its improved long-term credit profile and strong liquidity. The company is currently rated as “BB”,...
27Jun2011 | vitalstocks | 0 comments | Continued(MDT) Medtronic Actively Checks Diabetes
In a positive development, research findings presented at a recent conference mirrors the effectiveness of Medtronic’s (MDT) insulin pump therapy for improved glucose control in type 1 diabetic patients. The company offers sensor-augmented insulin pump therapy that integrates...
27Jun2011 | vitalstocks | 0 comments | Continued(VNO) Vornado Realty Trust Shares in Toys ‘R’ Us Loss
Vornado Realty Trust (VNO), a leading real estate investment trust (REIT), has recently announced its share of first quarter 2011 financial results of Toys ‘R’ Us – a leading global retailer of dedicated toys and baby products. Vornado Realty, which currently owns about...
27Jun2011 | vitalstocks | 0 comments | Continued(MWW) Monster Worldwide Launches BeKnown
Monster Worldwide (MWW) recently launched BeKnown, a professional networking application which is designed to allow Facebook users to establish a professional network on one of the world’s most popular social platform. This new technology, available in 19 different languages,...
27Jun2011 | vitalstocks | 0 comments | Continued(YHOO) Yahoo-Alipay Settlement in Progress
Yahoo Inc. (YHOO), Chinese e-commerce firm Alibaba Group Holding Ltd. and Japanese Internet company Softbank Corp. are on track to reach a settlement regarding the ownership of online-payments business Alipay. The trio seems pleased with the progress on the transfer of Alipay,...
27Jun2011 | vitalstocks | 0 comments | Continued(BA) Stock Market News for June 27, 2011 – Market News
Markets were rattled for the third consecutive day after concerns emerged over the stability of Italy’s banking sector. Just after the markets managed a finish in the green last week after six-consecutive weeks of losses, benchmarks once again ended in negative territory for...
27Jun2011 | vitalstocks | 0 comments | Continued(LIFE) Life Technologies Ties Up with Pharma Majors
Life Technologies Corporation (LIFE) recently strengthened its newly created Technology Strategy Board grant consortium with the inclusion of the R&D divisions of AstraZeneca (AZN) and Johnson & Johnson (JNJ). The group expects this grant to fund the development of a...
27Jun2011 | vitalstocks | 0 comments | Continued(PFE) Pfizer and Pain Therapeutics Get Bad News for Remoxy
The US Food and Drug Administration recently dealt a blow to Pfizer (PFE) and Pain Therapeutics, Inc. (PTIE) by issuing a second complete response letter (CRL) for their opioid candidate, Remoxy. Remoxy became a part of Pfizer’s pipeline following its acquisition of King Pharmaceuticals...
27Jun2011 | vitalstocks | 0 comments | Continued(NEM) Newmont Mining Analyst Downgrades Shares to Neutral
Despite the excellent first-quarter 2011 results provided by Newmont Mining Corporation (NEM), we are downgrading our recommendation from Outperform to Neutral based on a number of challenges that the company faces at the Boddington mine. Newmont reported adjusted net income...
27Jun2011 | vitalstocks | 0 comments | Continued(MCO) Prudential Financial Upgraded by Moody’s
Last week, credit rating agency Moody’s Investors’ Service, a subsidiary of Moody’s Corp. (MCO), affirmed the debt rating of Prudential Financial Inc. (PRU) at “Baa2” and upgraded its outlook to positive from stable. Prudential has one of the best collections of businesses...
27Jun2011 | vitalstocks | 0 comments | Continued(ENDP) Endo Pharmaceuticals Announces FDA Action Date
Endo Pharmaceuticals (ENDP) recently announced that the US Food and Drug Administration (FDA) has issued a new action date for the new formulation of painkiller Opana ER. The FDA stated that it will review Endo Pharma’s response to the agency’s complete response letter (CRL)...
27Jun2011 | vitalstocks | 0 comments | Continued(EIA) U.S. Energy Department Reports Hefty Natural Gas Build
The U.S. Energy Department’s weekly inventory release showed a larger-than-expected build-up in natural gas supplies on the back of robust production levels and moderate weather across much of the country. The Weekly Natural Gas Storage Report – brought out by the Energy...
27Jun2011 | vitalstocks | 0 comments | Continued(BSX) Company News for June 27, 2011 – Corporate Summary
• Google Inc. (NASDAQ:GOOG) confirmed that it has received a formal notification from the U.S. Federal Trade Commission, which is investigating if Google’s search engine poses any threat for its peers • Williams Companies, Inc. (NYSE:WMB) presented an all-cash...
27Jun2011 | vitalstocks | 0 comments | Continued(SHLD) Sears Holding Corporation – Bear of the Day
Sears Holdings Corp. (SHLD) disappointed with its overall first-quarter 2011 results. The company posted a quarterly loss of $1.39 per share that plunged drastically from the prior-year quarter earnings of $0.16 primarily due to sluggish top-line performance. Management’s...
27Jun2011 | vitalstocks | 0 comments | Continued