Archive for November, 2011
(BAC) Bank of America Calls Off Debit-Card Fee
Bank of America Corp. (BAC) has called off its plan to charge a $5 monthly fee on debit card purchases on Tuesday, but only after a hostile response from consumers and lawmakers nationwide. The company was under pressure to drop debit card fee as some of its rival companies including...
3Nov2011 | vitalstocks | 0 comments | Continued(RTN) Raytheon Beats Earnings Forecast – Updates Outlook
Raytheon Company (RTN) reported third-quarter 2011 adjusted earnings of $1.39 per share, beating the Zacks Consensus Estimate of $1.33. Results were also higher than the year-ago quarterly earnings of $1.35 per share. Operational Performance Revenue reported by Raytheon in the...
3Nov2011 | vitalstocks | 0 comments | Continued(HBC) HSBC Holdings to Divest Its Losango Unit
On Thursday, Financial Times reported that HSBC Holdings Plc (HBC) is planning to sell its Losango consumer finance unit in Brazil, in yet another attempt to shed its non-core assets and improve efficiency. Presently, HSBC’s Losango unit has nearly 20 million clients and controls...
2Nov2011 | vitalstocks | 0 comments | Continued(IMF) Stock Market News for October 31, 2011 – Market News
Markets chose to take a breather on Friday, closing on a flat note just a day after it posted a huge rally spurred on by the outcome of the European Council meeting. However, some of the encouragement ebbed after analysts questioned the effectiveness of the plan. Nonetheless,...
2Nov2011 | vitalstocks | 0 comments | Continued(AMD) Company News for October 31, 2011 – Corporate Summary
• Advanced Micro Devices, Inc. (NYSE:AMD) posted third quarter earnings of $0.13 per share, ahead of the Zacks Consensus Estimate of $0.10 per share • Goodyear Tire & Rubber Co. (NYSE:GT) reported a profit of $161 million or $0.60 per share in the third quarter...
2Nov2011 | vitalstocks | 0 comments | Continued(PRGO) Perrigo Beats Earnings Forecast – Sales Miss
Perrigo Company (PRGO) reported earnings per share of $1.10 for the first quarter of fiscal 2012, beating the Zacks Consensus Estimate of $1.03 and the year-earlier earnings of 87 cents per share. Light sales performance was offset by a lower tax rate to drive earnings growth. First...
2Nov2011 | vitalstocks | 0 comments | Continued(IM) Ingram Micro Earnings Report In Line with Estimates
Ingram Micro Inc. (IM) has reported third-quarter 2011 earnings per share of 35 cents, just matching the Zacks Consensus Estimate. Revenues Ingram Micro’s third quarter revenue of $8.90 billion increased 5.3% from $8.45 billion in the year-ago quarter. The improvement may be...
2Nov2011 | vitalstocks | 0 comments | Continued(FIS) Fidelity National Information Services Ropes in 80 New Clients
Fidelity National Information Services Inc. (FIS), the provider of banking and payments technology, will be providing prepaid processing solutions to 80 new clients across the globe. Fidelity’s prepaid processing activities range from account set up to card production, inventory...
2Nov2011 | vitalstocks | 0 comments | Continued(AEP) American Electric Power Company Earnings Scorecard
On October 26, 2011, American Electric Power Company Inc. (AEP), a public utility holding company, posted mixed third-quarter 2011 results. In the paragraphs that follow, we cover the recent earnings announcement, subsequent analysts’ estimate revisions as well as the Zacks...
2Nov2011 | vitalstocks | 0 comments | Continued(GB) Greatbatch Third Quarter 2011 Earnings Helped By Medical Business
Greatbatch’s (GB) third-quarter fiscal 2011 adjusted (excluding one-time items) earnings per share of 41 cents outpaced both the Zacks Consensus Estimate and the year-ago adjusted earnings of 34 cents. Profit (as reported) soared 17% year over year to roughly $7 million (or...
2Nov2011 | vitalstocks | 0 comments | Continued(BMS) Bemis Corporation – Bear of the Day
Bemis Company (BMS) reported third-quarter EPS of $0.56, a penny below the year-ago quarter and missing the Zacks Consensus Estimate by 2 cents. Rising raw materials prices have significantly impacted the company, putting downward pressure on its margins. Nearly 35% of its total...
2Nov2011 | vitalstocks | 0 comments | Continued(STR) Questar Corporation – Bull of the Day
Buoyed by robust operating results and an enhanced guidance by management, we are upgrading Questar Corp. (STR) to Outperform from Neutral. We believe the company will be able to generate meaningful earnings and dividend growth in the coming years through strong operational performances...
2Nov2011 | vitalstocks | 0 comments | Continued(THRX) Theravance Third Quarter Loss Deteriorates
Theravance Inc.’s (THRX) third quarter 2011 loss per share of 37 cents was wider than the Zacks Consensus loss Estimate of 33 cents as well as the year-ago loss of 29 cents per share. The wider loss was attributable to a lukewarm top-line performance as well as increased research...
2Nov2011 | vitalstocks | 0 comments | Continued(CHSI) Catalyst Health Solutions Beats Estimates
Catalyst Health Solutions Inc. (CHSI) reported third-quarter operating earnings of 63 cents per share, beating the Zacks Consensus Estimate of 61 cents. The results also compare favorably with earnings of 51 cents in the prior-year quarter. Operating earnings in the reported...
2Nov2011 | vitalstocks | 0 comments | Continued(JBLU) JetBlue Airways Posts In Line Earnings Report
Discount U.S. airline JetBlue Airways Corporation (JBLU) third quarter adjusted earnings per share of 12 cents matched the Zacks Consensus Estimate but was below the year-ago earnings of 18 cents. Total revenue climbed 16% year over year to $1.195 billion but missed the Zacks...
2Nov2011 | vitalstocks | 0 comments | Continued(ADP) Automatic Data Processing Sees 110K Jobs Gained
The Automatic Data Processing (ADP) employment survey was stronger than expected in October. It shows that private sector employment rose by 110,000, above consensus expectations for a 100,000 increase. The September numbers were revised up to a gain of 116,000 jobs from the...
2Nov2011 | vitalstocks | 0 comments | Continued(MMP) Magellan Midstream Partners, L.P. Beats – Profit Grows
Pipeline operator Magellan Midstream Partners, L.P. (MMP) announced strong third quarter 2011 results, aided by contributions from recently-completed acquisitions and expansion projects. The Tulsa, Oklahoma-based oil distributor reported earnings per unit (EPU) of 79 cents (excluding...
2Nov2011 | vitalstocks | 0 comments | Continued(VRTX) Vertex Pharmaceuticals Riding High on Incivek Sales
Vertex Pharmaceuticals Inc. (VRTX) posted robust third quarter 2011 earnings (including stock-based compensation expense) of 56 cents per share, substantially above the Zacks Consensus Estimate of 19 cents and the year-ago loss of 99 cents. Increased revenues from the sale of...
2Nov2011 | vitalstocks | 0 comments | Continued(HGSI) Human Genome Sciences – Bear of the Day
We are downgrading Human Genome Sciences Inc. (HGSI) to Underperform from Neutral following the disappointing third quarter 2011 results reported by the company. The company suffered a wider-than-expected loss due to lower revenues. The most alarming factor was the below-par...
1Nov2011 | vitalstocks | 0 comments | Continued(STR) Questar Corporation – Bull of the Day
Buoyed by robust operating results and an enhanced guidance by management, we are upgrading Questar Corp. (STR) to Outperform from Neutral. We believe the company will be able to generate meaningful earnings and dividend growth in the coming years through strong operational performances...
1Nov2011 | vitalstocks | 0 comments | Continued(EU) Non-U.S. Banks Stock Update – November 2011 – Industry Outlook
The global banking industry is still a sorry sight, and its near term looks even worse with several negatives like asset-quality troubles, weak revenue growth, steeper costs and weak loan demand. But thanks to the worldwide regulatory reform, the sector has at least entered a...
1Nov2011 | vitalstocks | 0 comments | Continued