Archive for July, 2011
(GNW) Genworth Financial Analyst Upgrades Shares
We are upgrading our recommendation on Genworth Financial Inc (GNW) to Neutral from Underperform to reflect the company’s continued focus on fueling growth and strong rating affirmation from credit rating agencies. To focus more on its Retirement and Protection segment, Genworth...
1Jul2011 | vitalstocks | 0 comments | Continued(MRH) Montpelier Re Holdings Limited Estimates Catastrophe Loss
Montpelier Re Holdings Ltd. (MRH) guided second quarter catastrophe losses from severe flood, hail, tornado and wind events in the United States to $35 million, pre-tax and net of reinsurance recoveries and reinstatement premiums. However, Montpelier dos not anticipate any losses...
1Jul2011 | vitalstocks | 0 comments | Continued(PG) Procter & Gamble and Electronic Arts Team Up
Procter & Gamble Co (PG) is partnering with Electronic Arts Inc. (ERTS) to feature its Bounty products in the social game called Playfish Restaurant City. Financial terms of the deal were not disclosed. Electronic Arts is a global leader in digital interactive entertainment...
1Jul2011 | vitalstocks | 0 comments | Continued(DNDN) Medicare to Cover Dendreon’s Provenge
Dendreon Corporation (DNDN) has of late been announcing significant milestones, related to its potential blockbuster cancer vaccine Provenge. Most recently, the company announced that the Centers for Medicare and Medicaid Services (CMS) has agreed to fully reimburse Provenge,...
1Jul2011 | vitalstocks | 0 comments | Continued(FMS) Fresenius Medical Care Offers Tips for Summer
Fresenius Medical Care (FMS), the largest provider of dialysis products and services in the globe, recently offered advice to renal patients to monitor their fluid intake during the parched summer months. Further, the company offered tips to dialysis patients on how to satisfy...
1Jul2011 | vitalstocks | 0 comments | Continued(C) Citigroup Partners With Vietnam Brokerage Firm Horizon Securities
Citigroup Inc. (C) is expanding its business in the Asian countries. The company acquired a 9.9% stake in Horizon Securities Corp., a Vietnam brokerage company. Financial terms of the deal, which is subject to regulatory approval, were kept confidential. Headquartered in Ho Chi...
1Jul2011 | vitalstocks | 0 comments | Continued(CBSH) Commerce Bancshares Analyst Remains Neutral on Shares
We continue to maintain our long-term “Neutral” recommendation on Commerce Bancshares Inc. (CBSH). Although the company has the scope to expand inorganically with its excellent liquidity position, we remain cautious on the company’s loan volumes and non-performing asset...
1Jul2011 | vitalstocks | 0 comments | Continued(BX) Blackstone Group to Buy Royal Bank of Scotland Group’s Risky Loans
On Thursday, the Financial Times reported that Blackstone Group (BX) has agreed to purchase risky commercial-property loans worth 1.4 billion pounds ($2.3 billion) from U.K.-based Royal Bank of Scotland Group Plc (RBS). Blackstone would buy a 25% stake in the loan portfolio and...
1Jul2011 | vitalstocks | 0 comments | Continued(NOK) Nokia to Divest Messaging Unit
Nokia Corporation(NOK), the world’s largest mobile phone maker, plans to divest its instant messaging service division to British-based firm Synchronica for $25 million. The acquisition will allow Synchronica to enter the U.S. market and gain access to Nokia’s 6 million end...
1Jul2011 | vitalstocks | 0 comments | Continued(WU) Western Union to Launch an Innovative Card
World’s leading money transfer company Western Union Co. (WU) has recently announced that it would launch a Western Union Money Transfer Receive Card, which would set in a new hassle-free way to receive money transfer from across the globe. The cards, which will be available...
1Jul2011 | vitalstocks | 0 comments | Continued(VAL) Valspar Launches Valspar Plus Paint
The Valspar Corporation’s (VAL) Valspar Paint launched the first indoor decorative paint, which has been certified by the Asthma and Allergy Foundation of America (AAFA). The Valspar Plus paint, certified as asthma and allergy friendly, decreases airborne irritants and enhances...
1Jul2011 | vitalstocks | 0 comments | Continued(WMT) Wal-Mart Wants Bigger Brazil Market
In the midst of a takeover fight between rival retail chains, Wal-Mart Stores Inc. (WMT) states its desire to buy Carrefour SA’s (CA) operations in the booming Brazilian market. Carrefour, a giant French retailer, had been experiencing a rough patch for last few years. To overcome...
1Jul2011 | vitalstocks | 0 comments | Continued(DDR) Developers Diversified Realty Corporation Refinances Secured Term Loan
Developers Diversified Realty Corporation (DDR), a real estate investment trust (REIT), has recently refinanced its existing secured term loan facility worth $550 million with a new $500 million senior secured term loan. At the same time, the company amended its two senior unsecured...
1Jul2011 | vitalstocks | 0 comments | Continued(ACN) Accenture’s Run of Wins Continues
Accenture Plc (ACN) has won several deals over the last couple of months. Recently, the U.S. Air Force’s Electronic Systems Center Capabilities Integration Directorate awarded a 24-month contract worth $17.2 million to conduct risk reduction and prototyping for advanced command...
1Jul2011 | vitalstocks | 0 comments | Continued(VAR) Varian Medical TrueBeam Makes China Debut
Leading integrated radiotherapy systems maker Varian Medical (VAR) has achieved another key milestone as its popular TrueBeam therapy system has been successfully deployed at Shantou University Medical College’s affiliated cancer hospital, thereby becoming the first cancer...
1Jul2011 | vitalstocks | 0 comments | Continued(D) Dominion Resources Installs New Scrubber
Dominion Resources Inc. (D) said its unit Dominion Virginia Power has installed a new pollution control equipment in its Chesterfield Power Station in Richmond with a view to reduce emission from this power generation plant. The new pollution control equipment popularly called...
1Jul2011 | vitalstocks | 0 comments | Continued(ALKS) Alkermes Presents Encouraging Data
Recently, Alkermes Inc. (ALKS) presented encouraging top line data from an early stage study of its schizophrenia candidate ALKS 9070 (n=32). ALKS 9070 is a once-monthly injectable extended release version of Bristol-Myer Squibb’s (BMY) schizophrenia drug Abilify (aripiprazole). ...
1Jul2011 | vitalstocks | 0 comments | Continued(FRX) Forest Laboratories Seeks FDA Nod for COPD Drug
Forest Laboratories, Inc. (FRX) and partner Almirall, S.A. recently announced the submission of a new drug application (NDA) to the US Food and Drug Administration (FDA) for their chronic obstructive pulmonary disease (COPD) candidate, aclidinium bromide. Aclidinium bromide is...
1Jul2011 | vitalstocks | 0 comments | Continued(GS) The Goldman Sachs Group to Lay Off 230 Workers
According to a state filing on Wednesday, The Goldman Sachs Group Inc. (GS) intends to lay off 230 workers in New York State due to economic reasons. The layoffs will be executed during the fourth quarter of 2011 and the first quarter of 2012. The State Department of Labor made...
1Jul2011 | vitalstocks | 0 comments | Continued(GIS) General Mills’ Earnings Meet Expectations
General Mills Inc. (GIS) has reported results for the fourth quarter of fiscal 2011. For the quarter, adjusted earnings shot up by 26.8% to 52 cents a share compared with 41 cents in the year-ago period. The quarterly EPS was in line with the Zacks Consensus estimate. The fiscal...
1Jul2011 | vitalstocks | 0 comments | Continued(MTL) Mechel OAO 2011 First Quarter Earnings Soar
Russian mining company Mechel OAO (MTL) recorded a net income of $309.1 million in first quarter 2011 comprehensively beating last year’s consolidated net income of $82.6 million, a jump of 274.3% year over year. Revenues in the first quarter 2011 soared 54.4% year over year...
1Jul2011 | vitalstocks | 0 comments | Continued(FISV) Fiserv Strengthens Digital Payments
In an attempt to expand digital payments and channel strategies, Fiserv Inc. (FISV) entered into an agreement to acquire CashEdge Inc. for $465 million. Headquartered in New York City and with offices in Silicon Valley and India, CashEdge provides innovative payments and aggregation solutions...
1Jul2011 | vitalstocks | 0 comments | Continued(MKC) McCormick & Company 2011 Second Quarter Beats by a Penny
McCormick & Co. Inc. (MKC) posted results for the second quarter of 2011 with operating earnings of 55 cents a share, surpassing the Zacks Consensus Estimate by one cent. The quarterly earnings benefited from higher operating income, as well as cost saving actions. Quarterly...
1Jul2011 | vitalstocks | 0 comments | Continued(PPL) PPL Corporation Ensures Nuclear Safety
PPL Corporation (PPL) said that Unit 2 of the Susquehanna nuclear plant near Berwick, Pennsylvania resumed generation after routine maintenance outages. The outage period was extended as the company had to change some damaged turbine blades discovered during an inspection. In...
1Jul2011 | vitalstocks | 0 comments | Continued(MDRX) Allscripts Healthcare Solutions Inks Reselling Pact
Electronic health record (“EHR”) services provider Allscripts Healthcare Solutions (MDRX) has forged a reselling deal with Georgia-based cloud-based messaging services and e-commerce solutions provider EasyLink Services International Corporation (ESIC). Under the deal, Allscripts...
1Jul2011 | vitalstocks | 0 comments | Continued(MKC) McCormick & Company Inks Deal with Kamis
In order to broaden its presence in the emerging markets of Western, Central, and Eastern Europe, spice-maker McCormick & Company, Inc. (MKC) agreed to acquire Poland-based privately-held Kamis S.A. for approximately 830 million Polish zloty ($291 million). On the same day,...
1Jul2011 | vitalstocks | 0 comments | Continued(HRS) Harris Wins FAA Contract
A leading supplier of communications equipment and services, Harris Corp. (HRS) recently won a contract worth $56.7 million for a period of three years and six months from the FAA (Federal Aviation Administration). The company will provide support and information to the FAA relating...
1Jul2011 | vitalstocks | 0 comments | Continued(PBR) Petroleo Brasileiro S.A. Start Extended Well Test at Aruana
Brazilian state-run Petroleo Brasileiro S.A. or Petrobras (PBR) has commenced production of oil at the Aruana area, following the start-up of extended well test (EWT). The Aruana area is in the post-salt layer of the southern area of the Campos Basin offshore Brazil. Petrobras...
1Jul2011 | vitalstocks | 0 comments | Continued(RAD) Rite Aid First Quarter 2012 Earnings Scorecard
Rite Aid Corporation (RAD), the third largest retail drugstore in the U.S. based on revenues and number of stores, posted its first-quarter 2012 results. Street analysts had nearly a week to ponder on the news. In the subsequent paragraphs, we cover the recent earnings announcement,...
1Jul2011 | vitalstocks | 0 comments | Continued(SM) SM Energy Trims Eagle Ford Acres
U.S. oil and gas development company, SM Energy Company (SM) will sell a 12.5% working interest in its non-operated Eagle Ford Shale acreage in Texas to a subsidiary of Mitsui & Co. Ltd. Mitsui will pay $680 million for the prolific Eagle Ford acreage. Mitsui will carry 90%...
1Jul2011 | vitalstocks | 0 comments | Continued