Archive for July, 2011
(FO) Fortune Brands Splits in Two
The leading consumer brands company Fortune Brands Inc. (FO) announced that following the spin-off of its Home & Security business, the separated companies will trade under two different symbols as independent entities on the New York Stock Exchange. Post spin-off, the Fortune...
5Jul2011 | vitalstocks | 0 comments | Continued(DFS) Discover Financial Services – Bull of the Day
Discover Financial Services’ (DFS) second quarter earnings came in dramatically ahead of the Zacks Consensus Estimate, driven by lower loan loss provision, higher transaction and credit card sales volumes that also drove the loan loss reserve release growth. Higher consumer...
5Jul2011 | vitalstocks | 0 comments | Continued(MAS) Masco Corporation – Bear of the Day
Masco Corporation (MAS) is highly dependent on the U.S. housing industry. Falling prices have made homes a less lucrative investment to buyers, which reduces demand for Masco products. Rising prices of raw materials are also affecting margins to a large extent. In addition, Masco...
5Jul2011 | vitalstocks | 0 comments | Continued(AIR) AAR Corporation Fourth Quarter 2011 Earnings Preview
AAR Corp (AIR), the provider of aircraft parts and maintenance, announced that it will release its financial results for the fourth quarter and fiscal year 2011, ended May 31, 2011, after the market closes on Wednesday, July 6, 2011. The current Zacks Consensus Estimate for earnings...
5Jul2011 | vitalstocks | 0 comments | Continued(NOK) Nokia to Quit Japan
The struggling mobile phone manufacturer Nokia Corp. (NOK) has decided to close its operations in Japan by August 2011. Nokia will shut down its high-end Vertu handset stores in Shibuya and Ginza districts of Tokyo by the end of 2011. Vertu is one of the premium tier mobile handset...
5Jul2011 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial Completes Danvers Bancorp Acquisition
On Friday, People’s United Financial Inc. (PBCT) completed the acquisition of Massachusetts-based Danvers Bancorp Inc. (DNBK). The company paid 18.5 million shares of common stock and $214.5 million in cash for the acquisition. The acquisition was completed following the...
5Jul2011 | vitalstocks | 0 comments | Continued(AA) Alcoa & Saudi Arabian Mining Company, Ma’aden Secure $1 Billion Loan
Saudi Arabian Mining Company, Ma’aden and Alcoa Inc. (AA) have secured $1 billion loan from Public Investment Funds (PIF) for phase II of aluminum project in Saudi Arabia. The loan amount will finance the Ma’aden Bauxite and Alumina Company, which is owned 74.9% by...
5Jul2011 | vitalstocks | 0 comments | Continued(AA) A Week of Macro Indicators
Fresh from an extended 4th of July weekend, traders and investors must re-engage the markets and their myriad questions — debt ceiling getting raised? Greek bailout? etc. — to hopefully better navigate the turbulence that has claimed the trading market all season...
5Jul2011 | vitalstocks | 0 comments | Continued(NTAP) NetApp: Analyst Day Glimpses
NetApp Inc. (NTAP) held its analyst day on June 30, wherein it discussed multiple growth opportunities to double its earnings. The storage vendor is exploring many under-penetrated geographical regions to expand its international footprint. Moreover, management is also keen on...
5Jul2011 | vitalstocks | 0 comments | Continued(BP) BP Restores Two Texas Units
As per an emissions report filed with state regulators, British energy giant BP Plc (BP) has restarted its gasoline-producing fluidic catalytic cracking (FCC) unit No.1 in its Texas city refinery. The unit of the 437,080-barrels-per-day (bpd) refinery was shut in April following...
4Jul2011 | vitalstocks | 0 comments | Continued(APD) Air Products & Chemicals Lands Contract
The industrial gas company Air Products & Chemicals Inc. (APD) announced that it has been elected to supply its heat exchanger technology to Shell’s floating liquefied natural gas (LNG) project in Australia. According to Air Products, Shell’s project will use its...
4Jul2011 | vitalstocks | 0 comments | Continued(AEP) American Electric Power Investing in Competitive Renewable Energy Zone Projects
Electric Transmission Texas, LLC (‘’ETT’’) – a joint venture between the subsidiaries of American Electric Power Company (AEP) and MidAmerican Energy Holdings Company – has entered into master agreements with three construction firms for transmission and infrastructure...
3Jul2011 | vitalstocks | 0 comments | Continued(SUP) Superior Industries International Analyst Downgrades Shares
We downgrade our recommendation on Superior Industries International, Inc. (SUP) to Neutral from Outperform. Based in Van Nuys, California, Superior Industries is one of the world’s largest designers and manufacturers of cast aluminum road wheels for the automotive industry....
3Jul2011 | vitalstocks | 0 comments | Continued(EXL) Excel Trust Completes Share Offering
Excel Trust, Inc. (EXL) recently completed the public offering of 12.5 million shares of its common stock, which was previously announced. Apart from this, it also completed the sale of 1.875 million additional shares of its common stock thereby fully exercising the over allotment...
3Jul2011 | vitalstocks | 0 comments | Continued(MDT) Medtronic Expands Kyphon Portfolio
Recently, Medtronic (MDT) launched two products to add to the Kyphon Balloon Kyphoplasty procedure (BKP), which is used for treating vertebral compression fractures (VCFs). The products are Kyphon Xpander II Inflatable Bone Tamp (IBT) and the Kyphon Inflation Syringe –...
3Jul2011 | vitalstocks | 0 comments | Continued(LM) Legg Mason Analyst Reiterates Shares at Neutral
We maintain our Neutral recommendation on Legg Mason Inc. (LM) based on strong fourth-quarter results. However, Legg Mason experienced a decline in its assets under management (AUM) in May on a sequential basis. This was preceded by a slight decline in April, but a modest increase...
3Jul2011 | vitalstocks | 0 comments | Continued(PAY) VeriFone Systems Aquires South African-based Destiny Electronic Commerce
VeriFone Systems, Inc. (PAY) recently completed the acquisition of South African based Destiny Electronic Commerce Ltd. Headquartered in Johannesburg with offices in Cape Town and Durban, Destiny Electronic Commerce provides secure payment technologies, services and solutions...
3Jul2011 | vitalstocks | 0 comments | Continued(SKM) SK Telecom to Roll Out LTE
The South Korean telecom giant SK Telecom Corp Ltd (SKM) has joined hands with telecom carriers for the commercial deployment of Long Term Evolution (LTE) services, also known as 4G networks. Given the surge in data traffic demand, the company will launch its LTE services in...
3Jul2011 | vitalstocks | 0 comments | Continued(KMP) Kinder-Copano Grows in Eagle Ford
Eagle Ford Gathering LLC continues to expand its reach for producers in the prolific South Texas region. In this regard, Kinder Morgan Energy Partners, L.P. (KMP) and Copano Energy, L.L.C. (CPNO) – the owners of Eagle Ford Gathering LLC – have entered into long-term joint...
2Jul2011 | vitalstocks | 0 comments | Continued(DELL) Dell Offers IT Services to Hyatt Hotels
Round Rock Texas-based PC maker Dell Inc. (DELL) recently confirmed an information technology (IT) support deal with Hyatt Corp., an affiliate of Hyatt Hotels Corp. (H). The contract has a tenure of five years, but no financial details of it were disclosed. Under the deal, Dell’s...
2Jul2011 | vitalstocks | 0 comments | Continued(CHK) U.S. Rise In Natural Gas Supplies Decelerates
The U.S. Energy Department’s weekly inventory release showed a smaller-than-expected build-up in natural gas supplies on the back of increased domestic gas consumption, partially offset by a light weather load. The Weekly Natural Gas Storage Report – brought out by the...
2Jul2011 | vitalstocks | 0 comments | Continued(BAC) Stock Market News for July 1, 2011 – Market News
The Street ended one of its most volatile quarters, with positive economic reports and a temporary solution to the Greece debt crisis lifting the benchmarks to post their biggest four-day rally since September. The technology sector and energy sector lifted the mood further and...
1Jul2011 | vitalstocks | 0 comments | Continued(ORCL) Oracle Buys Pillar Data Systems
Oracle Corp. (ORCL) recently entered into an agreement to acquire privately held data storage company Pillar Data Systems. Oracle CEO Larry Ellison holds a majority stake in Pillar Data Systems. Under the terms of the agreement, Oracle will not pay anything up-front. Oracle will...
1Jul2011 | vitalstocks | 0 comments | Continued(MU) Micron Technology to Offer Chips to Alcatel
Memory chip manufacturer Micron Technology Inc. (MU) will offer its advanced Reduced Latency DRAM (RLDRAM) 3 memory chips to networking solutions provider Alcatel-Lucent (ALU). Financial details of the deal were not disclosed. Alcatel-Lucent is a leading provider of mobile, fixed,...
1Jul2011 | vitalstocks | 0 comments | Continued(BAC) Wells Fargo and Bank of America Eliminate 60 Workers
According to Bloomberg, Bank of America Corp. (BAC) will retrench 60 employees in its equity sales and trading unit. The decision was taken to boost revenue in the unit by lowering expenses. The division, comprising approximately 2,500 people, plans to fire least-productive employees...
1Jul2011 | vitalstocks | 0 comments | Continued(JBLU) JetBlue Airways Partners with Qatar Airways
The discounted U.S. airline JetBlue Airways Corporation (JBLU) has entered into a partnership with Qatar Airways. This is the eleventh partnership made by the company since its inception. The alliance lets travelers avail of both carriers from New York’s John F. Kennedy...
1Jul2011 | vitalstocks | 0 comments | Continued(CPO) Company News for July 01, 2011 – Corporate Summary
• Shares of Cell Therapeutics, Inc. (NASDAQ:CTIC) declined by 19.64% after the cancer drug developer said it was selling Series 13 preferred stock worth $30 million • Vitamin maker USANA Health Sciences Inc.’s (NYSE:USNA) shares rose 7.90% after the company’s...
1Jul2011 | vitalstocks | 0 comments | Continued(HOT) Starwood Hotels & Resorts Worldwide Beefs Up Saudi Portfolio
Starwood Hotels & Resorts Worldwide Inc. (HOT) is set to further expand in the Kingdom of Saudi Arabia with two new hotels. The company has entered into a deal with Saudi Brothers Commercial Co. to open a Sheraton and a Four Points by Sheraton in Medina. The project is a...
1Jul2011 | vitalstocks | 0 comments | Continued(DRI) Darden Restaurants Meets Earnings Estimates – Hikes Dividend
Darden Restaurants Inc (DRI) posted fourth quarter 2011 earnings of $1.00 per share, in line with the Zacks Consensus Estimate, but up 23% from the year-ago quarter’s earnings of 81 cents per share. Total revenue jumped 6.8% from the prior-year quarter to $1,990.4 million...
1Jul2011 | vitalstocks | 0 comments | Continued(KCI) Kinetic Concept’s V.A.C. Reaches UK
Recently, Kinetic Concept’s (KCI) latest Negative Pressure Wound Therapy (NPWT) product V.A.C. Via secured reimbursement status in UK and will be listed in the UK Drug Tariff, effective August 1, 2011. The company believes this reimbursement decision of the UK health authorities...
1Jul2011 | vitalstocks | 0 comments | Continued