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Friday March 12, 2010 — Zacks.com: Analyst Blog
We recently maintained our Neutral rating on CONMED Corporation (CNMD) with a target price of $24 based on a P/E of roughly 19.4x our fiscal 2010 EPS estimate of $1.24.
CONMED Corporation reported fourth quarter fiscal 2009 earnings per share of 37 cents, surpassing the Zacks Consensus E...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Taiwan's financial regulator has set five conditions for the American International Group Inc.'s (AIG) Nan Shan deal, according to Reuters. The Financial Supervisory Commission (FSC) is expected to give a report to Taiwan's parliament this Thursday.
Last October, AIG agreed to sell its...
Friday March 12, 2010 — Zacks.com: Analyst Blog
In a regulatory filing with the Securities and Exchange Commission yesterday, Huntington Bancshares Inc. (HBAN) reaffirmed its 2010 guidance. As announced concurrent with the fourth-quarter earnings release on Jan 22, 2010, Huntington expects to return to a profitable quarterly performa...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Last month, DaVita Inc. (DVA), a leading provider of dialysis services in the United States to patients suffering from chronic kidney failure (also known as end stage renal disease (ESRD)), announced its financial results for the fourth quarter and fiscal year ended Dec 31, 2009. Earnin...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Anadarko Petroleum Corporation (APC) initiated a cash tender offer to buyback $1 billion of its outstanding debt. The tender offer consists of two separate offers: an Any and All Offer and a Maximum Tender Offer.
The first offer seeks to purchase any and all of the 6.750% Senior Notes ...
Friday March 12, 2010 — Zacks.com: Analyst Blog
The Board of Directorsfor United Technologies Corp. (UTX) authorized a share buy-back program for up to 60 million shares of the company, worth approximately $4.3 billion at current prices.
The new authorization supersedes a previous program, approved in Jun 2008, which is nearing comple...
Friday March 12, 2010 — Wang's Happy Trading Daily Posts
Financials stayed strong today and helped to push SP 500 to a new 17-month closing high! In my Market Forecast this weekend, I said, … the market has gone quite far, so it may need a breather through the mid-week. If the market can hold its altitude while letting off some steam, we could see...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Mining company Cliffs Natural Resources Inc. (CLF) yesterday announced that it has priced its public offering of $400 million worth of 5.9% senior notes due March 2020. The company plans to use the net proceeds for general corporate purposes, which could include funding capital expenditur...
Friday March 12, 2010 — Zacks.com: Analyst Blog
As reported by the Reuters on Wednesday, Nasdaq OMX Group Inc.s (NDAQ) majority-owned International Derivatives Clearing Group (IDCG) has added Newedge USA, LLC, the worlds largest multi-asset brokerage and clearing firm, for offering a central counterparty clearing of Interest Rate Swap ...
Friday March 12, 2010 — Zacks.com: Analyst Blog
As part of its initiative to expand its global market share, Bank of New York Mellon Corp. (BK) is acquiring Germany's BHF Asset Servicing GmbH for $343 million.
The deal, which is expected to close in the third quarter of 2010, will make BNY Mellon the second largest organization in f...
Friday March 12, 2010 — Zacks.com: Analyst Blog
We are initiating coverage on Symantec Corporation (SYMC) with a Neutral rating and a price target of $18.00, representing a P/E multiple of 12.9x our 2010 EPS estimate. We believe Symantec Corp. is fairly valued at its current P/E multiple of 12.6x our 2010 EPS estimate of $1.39, which...
Friday March 12, 2010 — Zacks.com: Analyst Blog
On Tuesday, we raised the target price of Wells Fargo Company (WFC) to $30.00 from $29.00 after the company posted strong fourth-quarter results, paving theway for an optimistic 2010 ahead. The company's fourth-quarter earnings came in significantly ahead of the Zacks Consensus Estimat...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Nabi Biopharmaceuticals (NABI) reported fourth quarter fiscal 2009 (ended Dec 26, 2009) earnings of 2 cents per share (from continuing operations). This was well above the Zacks Consensus Estimate of a loss of 11 cents.
The company suffered a loss of 10 cents (from continuing operations)...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Leading information technology (IT) management software company CA Inc. (CA) recently disclosed that it has entered into an agreement to acquire privately-held software company Nimsoft, Inc. in an all-cash deal valued at $350 million.
The company provides IT performance and availabilit...
Friday March 12, 2010 — Zacks.com: Analyst Blog
DexCom, Inc. (DXCM) reported a net loss of 25 cents per share in the fourth quarter of 2009, a couple cents narrower than the Zacks Consensus Estimate for a net loss of 27 cents and significantly narrower than the year-ago net loss of 49 cents. The significant improvement in financial r...
Friday March 12, 2010 — Zacks.com: Analyst Blog
The Treasury announced Wednesday that it has received net proceeds of $15.4 million from the sale of warrants it obtained as part of its investment in Washington Federal Inc. (WFSL) through the Troubled Asset Relief Program (TARP) during the height of the financial crisis. In May 2009, ...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Earnings estimates for Merck Co. (MRK) are on the lower side following the release of fourth quarter and full-year 2009 results. The companys earnings per share (EPS) came in at 79 cents (excluding non-recurring items), marginally beating the Zacks Consensus Estimate of 78 cents but lowe...
Friday March 12, 2010 — Zacks.com: Analyst Blog
McKesson Corp. (MCK) reported in-line results for the third quarter of fiscal 2010. Earnings came in at $1.19 per share, in line with the Zacks Consensus Estimate, and 13% above the year-ago profit of $1.05. Meanwhile, revenues increased 4% to $28.3 billion, driven by the strong performan...
Friday March 12, 2010 — Zacks.com: Analyst Blog
The nation's trade deficit fell in January to $37.3 billion from a downwardly revised $39.9 billion in December. It did so, however, for the wrong reason.
We saw a bigger decline in imports, which dropped by $3.1 billion or 1.69% to $180.0 billion, than we did in exports, which fell by $...
Friday March 12, 2010 — Zacks.com: Analyst Blog
We are upgrading TiVo Inc. (TIVO) to Neutral from our previous Underperform rating on its better-than-expected fourth-quarter 2010 results driven by higher revenues.
TiVo recently reported a net loss of 9 cents per share for the fourth quarter of fiscal 2010, 3 cents above the Zacks ...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Initial Claims for Unemployment Insurance fell by 6,000 this week to 462,000. However, the 4-week moving average, which is generally considered a better measure given the high degree of volatility in the weekly numbers, rose by 5,000 to 475,500.
Starting about a year ago, when the weekly...
Friday March 12, 2010 — Zacks.com: Analyst Blog
UK oil super major, BP plc. (BP) is buying a bunch of assets of US independent oil and gas producer Devon Energy Inc (DVN) for $7.0 billion in cash. These include properties in offshore Brazil, Azerbaijan and the US deepwater Gulf of Mexico (GoM).
Offshore Brazil assets include inter...
Friday March 12, 2010 — Zacks.com: Analyst Blog
We maintain our Neutral recommendation on Genomic Health Inc. (GHDX) with a target price of $20.00.
Genomic Health, founded in 2000 and headquartered in Redwood City, California, is an oncology-based biotech company focused on the development and commercialization of genome-based clini...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Liberty Global Inc. (LBTYA) is rapidly deploying Wideband network based on EuroDOCSIS 3.0 technology in several European markets. Liberty Global, the largest cable MSO in Europe is facing intensified competition in several European markets from growing fiber-to-the home network deployme...
Friday March 12, 2010 — Zacks.com: Analyst Blog
Motorola Inc. (MOT) has taken a strategic decision to enable the smooth sailing of its newly launched 3G smartphones in China. The company has entered into a global agreement with Microsoft Corp. (MSFT) to deploy the latters Bing services on its 3G smartphones. Users will enjoy a pre-lo...