Archive for July, 2011
(ABB) ABB Acquires Lorentzen & Wettre to Strengthen Business
ABB Ltd. (ABB) has entered into an agreement to acquire Lorentzen & Wettre from ASSA ABLOY AB (publ) for a price of about $119 million (SEK 750 million). The acquisition is directed to solidify the company’s pulp and paper business. Lorentzen & Wettre, based in the...
7Jul2011 | vitalstocks | 0 comments | Continued(VALE) VALE S.A. Strengthens Logistics
Vale S.A. (VALE) recently announced that the company’s new giant bulk carriers will be manufactured in China and South Korea as the domestic market is already working at full capacity. The company has booked 19 Valemaxes and already received delivery of one carrier. The Brazilian...
7Jul2011 | vitalstocks | 0 comments | Continued(STO) Statoil ASA to Pay $2.47 Billion for New Rigs
Oil giant Statoil ASA (STO) has awarded a contract worth $2.47 billion to Norway’s Songa Offshore. Per the deal terms, Songa will build two category D semi-submersible rigs for use on Norwegian Continental Shelf (NCS) with specified terms of 8 years each that could extend to...
7Jul2011 | vitalstocks | 0 comments | Continued(AMZN) Amazon to Acquire UK-Based Book Seller Book Depository
Amazon.com Inc. (AMZN) has announced that it will acquire UK-based online bookseller, The Book Depository International. The acquisition will add over six million titles to Amazon’s already large stock of books. The cost of the transaction was not revealed and the acquisition...
7Jul2011 | vitalstocks | 0 comments | Continued(DDR) Developers Diversified Realty Divests Assets Worth $87 Million
Developers Diversified Realty Corporation (DDR) recently divested 12 non-prime assets and 4 land parcels for $112 million, of which the company’s share was $87 million. Developers Diversified sold non-strategic assets to improve its portfolio demographics and increase liquidity....
7Jul2011 | vitalstocks | 0 comments | Continued(TLAB) Tellabs Incorporated – Bear of the Day
We downgrade our recommendation on Tellabs Inc. (TLAB) to Underperform backed by our assessment that the poor performance of the company will continue in the near future. First-quarter 2011 financial results were well below the Zacks Consensus Estimates and the second-quarter...
7Jul2011 | vitalstocks | 0 comments | Continued(RAVN) Raven Industries – Bull of the Day
Raven Industries (RAVN) reported an EPS of $0.86 in the first quarter of fiscal 2012 versus $0.72 in the year-earlier quarter, outperforming the Zacks Estimate of $0.74. The improvement was largely driven by the double-digit growth in sales in the Applied Technology and Aerostar...
7Jul2011 | vitalstocks | 0 comments | Continued(TLAB) Tellabs Downgraded to Underperform
We downgrade our recommendation on Tellabs Inc. (TLAB) to Underperform backed by our assessment that the poor performance of the company will continue in the near future. First-quarter 2011 financial results were well below the Zacks Consensus Estimates and the second-quarter...
7Jul2011 | vitalstocks | 0 comments | Continued(BEN) Franklin Resources Analyst Downgrades Shares to Neutral
We have downgraded our recommendation on Franklin Resources Inc. (BEN) to Neutral from Outperform apprehending costly regulatory issues in a volatile economic environment. However, Franklin’s second-quarter 2011 earnings of $2.25 per share outpaced the Zacks Consensus Estimate...
7Jul2011 | vitalstocks | 0 comments | Continued(HON) Honeywell International Invests for Global Warming
Honeywell International Inc. (HON) is focused on meeting the rising demand for low global warming material used in insulation and aerosols. Through a planned investment of $33 million in its Baton Rouge, La., manufacturing facility, the company will increase the production capabilities...
7Jul2011 | vitalstocks | 0 comments | Continued(ZUMZ) Zumiez Shines Once Again
Zumiez Inc. (ZUMZ), an action sports retailer in the United States, reported comparable store sales for the five-week period ended July 02, 2011. Total net sales for the period increased by a sharp 16.8% to $43.5 million from $37.2 million reported in the five-week period ended...
7Jul2011 | vitalstocks | 0 comments | Continued(ADP) ADP Jobless Claims Set Table
Before the bell this morning, the ADP (ADP) payroll and jobless claims reports hit the headlines, prior to 2nd quarter earnings season beginning next week and tomorrow’s important Bureau of Labor Statistics (BLS) non-farm payroll report. Both sets of numbers were good news,...
7Jul2011 | vitalstocks | 0 comments | Continued(MS) Merck KGaA Seeks Rebif Extension
Merck KGaA (MKGAF) recently filed a marketing application with the European Medicines Agency (EMA) in its endeavor to expand the label of Rebif, its multiple sclerosis (MS) therapy. The company is seeking approval for Rebif to treat patients who have experienced a single demyelinating...
7Jul2011 | vitalstocks | 0 comments | Continued(FTC) Graco Gets Federal Trade Commission Request
The antitrust regulators, the Federal Trade Commission (FTC) served a request on Graco Inc. (GGG) for additional information on the company’s proposed acquisition of finishing businesses of Illinois Tool Works Inc. (ITW). This acquisition is being investigated under the FTC’s...
7Jul2011 | vitalstocks | 0 comments | Continued(ORCL) Oracle Launches Virtualization App
Oracle Corp.(ORCL) in a bid to strengthen its desktop virtualization portfolio has launched the Oracle Virtual Desktop Client App for Apple Inc.’s (AAPL) iPad. Users can get the application from Apple’s App stores for free. It can also be downloaded from the company’s iTunes...
7Jul2011 | vitalstocks | 0 comments | Continued(CNW) Company News for July 7, 2011 – Corporate Summary
• Share prices of disk-drive components suppliers Hutchinson Technology Inc. (NASDAQ:HTCH) shot up by 21.15% after the company said it is optimistic about posting higher-than-expected third quarter earnings results • Shares of drug developer ImmunoGen, Inc....
7Jul2011 | vitalstocks | 0 comments | Continued(NMI) Stock Market News for July 7, 2011 – Market News
Markets moved up modestly, boosted by transportation shares on Wednesday, but concerns emanating from economic data and Portugal’s downgrade kept gains in check. Additionally, investors refrained from betting big bucks as they await significant reports this week. The Dow Jones...
7Jul2011 | vitalstocks | 0 comments | Continued(NVS) Novartis AG’s Afinitor Impresses Again
It seems Novartis AG’s (NVS) breast cancer drug, Afinitor (everolimus), is getting into a habit of delivering positive news. Right after the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) recommended approval of Afinitor last week...
7Jul2011 | vitalstocks | 0 comments | Continued(NOK) Nokia Lowers Phone Prices
The world’s largest mobile phone maker, Nokia Corporation (NOK) recently reduced the price of its three very popular smartphones N8, C7 and E6 by 15%. The recent price cut will enable Nokia to retain its market share as well as to target the middle class segment. Earlier, the...
7Jul2011 | vitalstocks | 0 comments | Continued(AAPL) Apple’s Injunction Bid Rejected
Apple Inc. (AAPL) received an adverse ruling from a federal judge in Oakland, California. Apple had sought to prevent Amazon.com Inc. (AMZN) from using the “App Store” name, according to a report from news agency Reuters. The judge rejected Apple’s preliminary injunction...
7Jul2011 | vitalstocks | 0 comments | Continued(RGS) Regis Corporation Upgrades Shares to Neutral
We are upgrading our rating on Regis Corporation (RGS), the largest hair salon chain in the world, from Underperform to Neutral. The rating upgrade is based on a host of initiatives taken by the company to drive traffic and enhance same-store sales growth. To attract new customers...
7Jul2011 | vitalstocks | 0 comments | Continued(RIMM) Motorola Mobility Holdings Cuts Tablet Price
Motorola Mobility Holdings Inc.(MMI) recently reduced its XOOM tablet prices from $599 to $499, thus taking the competition to other tablet makers. Samsung’s Galaxy Tab, Research In Motion Ltd. (RIMM) PlayBook and Apple Inc’s (AAPL) iPad are all priced at $499. Thus the price...
7Jul2011 | vitalstocks | 0 comments | Continued(RMD) ResMed Acquires BiancaMed
Developer and marketer of medical equipments for treating sleep disordered breathing and other respiratory disorders, ResMed Inc. (RMD) recently acquired an Irish medical technology company BiancaMed Ltd. As per the terms of the deal, ResMed purchased all outstanding shares of...
7Jul2011 | vitalstocks | 0 comments | Continued(SHPGY) Shire Entangled in Legal Dispute
The legal tussle between Shire (SHPGY), Sandoz, Inc. — the generic arm of Novartis (NVS) and Amneal Pharmaceuticals — intensified with Shire filing a patent infringement case against the two companies relating to Vyvanse. Vyvanse is indicated for treating patients...
7Jul2011 | vitalstocks | 0 comments | Continued(HMA) Health Management Associates to Acquire Mercy Health Partners
Health Management Associates (HMA), a leading operator of hospitals, recently revealed that its subsidiary had reached a definitive agreement to purchase the assets of Mercy Health Partners, a unit of Catholic Health Partners. As a consequence, Health Management will take over,...
6Jul2011 | vitalstocks | 0 comments | Continued(AKS) AK Steel Electric Furnace Damaged
West Chester, Ohio-based flat-rolled steelmaker, AK Steel Corporation (AKS) announced that its #5 electric arc furnace (EAF) at its Butler, Pennsylvania Works was damaged on July 1, 2011, when molten steel inside the furnace breached the furnace shell harming certain components. Steel...
6Jul2011 | vitalstocks | 0 comments | Continued(ICE) Intercontinental Exchange Analyst Maintains Neutral on Shares
Intercontinental Exchange Inc. (ICE) develops and offers a diverse array of products and a broad range of risk management services. Also, the company demonstrated immense growth potential in its futures and OTC markets, thereby gaining competitive leverage. Its intermittent restructuring...
6Jul2011 | vitalstocks | 0 comments | Continued(HPQ) Hewlett-Packard Unveils New Printer for Small & Medium Businesses
Hewlett-Packard Co. (HPQ) has always remained pro-active on the SMB (small & medium businesses) front. Recently, the tech monster enriched its much coveted printer portfolio with the launch of LaserJet Pro 100 color MFP M175nw, which is targeted at the business needs of SMBs. The...
6Jul2011 | vitalstocks | 0 comments | Continued(JCI) Johnson Controls Announces Aquisition of EnergyConnect
Johnson Controls Inc. (JCI) announced that it has completed the previously announced acquisition of California-based EnergyConnect Group Inc. on July 1. The company purchased the company for $32.3 million. EnergyConnect Group Inc. provides demand-response services to the electricity...
6Jul2011 | vitalstocks | 0 comments | Continued(DECK) Deckers Outdoor Acquires Sanuk
Deckers Outdoor Corporation (DECK), the manufacturer of sheepskin boots and slippers, recently announced that it has completed the buyout of the Sanuk brand on July 1, 2011. In an earlier release, Deckers stated that it has entered into asset purchase conformity to acquire the...
6Jul2011 | vitalstocks | 0 comments | Continued