Monday, August 2, 2010

Daily Markets - Disney To Offload Miramax

Daily Markets - Disney To Offload Miramax


Disney To Offload Miramax

Posted: 02 Aug 2010 07:45 AM PDT

Walt Disney Company (NYSE:DIS), the diversified media conglomerate, recently entered into a deal to sell Miramax Films for $660 million to Filmyard Holdings, a group of investors that include businessmen Ron Tutor, an investment firm, Colony Capital, and other individuals. The group has already paid a non-refundable deposit of $40 million.
 
The deal, which is expected to close somewhere between September 10 and December 31, 2010, includes rights to over 700 Miramax film titles, including … [visit site to read more]


Earnings Preview: Coach

Posted: 02 Aug 2010 07:45 AM PDT

Coach Inc. (COH), the designer and marketer of fine accessories and gifts, is scheduled to report its fourth quarter 2010 financial results on Tuesday, August 3, 2010. The current Zacks Consensus Estimate for the quarter is 56 cents a share.
 
Third-Quarter 2010, a Synopsis
 Coach posted better-than-expected third-quarter 2010 results on April 20, 2010 on the heels of strong top-line growth and competitive pricing. The quarterly earnings of 50 cents a share beats the Zacks Consensus … [visit site to read more]


ICICI Bank’s Earnings Climb

Posted: 02 Aug 2010 07:35 AM PDT

ICICI Bank Limited (NYSE:IBN) reported 2011 fiscal first quarter (ended June 30) profit of INR10.26 billion (US$221 million), an increase of 16.9% year over year from INR8.78 billion (US$189 million).
 
Results in the reported quarter were primarily driven by an increase in fee income, lease and other income, a drop in loss provisions and reduced operating expenses. Asset quality showed signs of improvement while capital levels remained fixed.
 
Performance in Detail
 
ICICI … [visit site to read more]


BioScrip Misses Estimates

Posted: 02 Aug 2010 07:20 AM PDT

BioScrip Inc. (NASDAQ:BIOS) reported an EPS of 6 cents in the second quarter of 2010, underperforming both the Zacks Consensus Estimate of 9 cents and the year-ago quarter's 11 cents. Excluding special items, EPS was 7 cents. Revenues were $412 million, up 25% from the year-ago quarter.
 
Beginning this quarter, BioScrip will report under two segments – Pharmacy Services and Infusion/Home Health Services with revenues of $305.4 million (up 4.5% year over year) and $106.7 million (up 193%), … [visit site to read more]


Forex Trading: USDCAD Tests Our Target Support At The 1.0205 Level.

Posted: 02 Aug 2010 07:12 AM PDT

TC PipeLines Reports Solid Results

Posted: 02 Aug 2010 07:05 AM PDT

TC PipeLines L.P. (NASDAQ:TCLP), a master limited partnership (MLP), announced better-than-expected second-quarter 2010 results, reflecting strong contributions from the Northern Border and North Baja pipeline systems.
 
The partnership reported earnings per unit (EPU) of 59 cents, comfortably ahead of the Zacks Consensus Estimate of 41 cents and the year-ago profit of 31 cents.
 
Distribution Maintained
 
TC PipeLines maintained its quarterly distribution of 73 cents per unit ($2.92 … [visit site to read more]


Where Is The Market Headed?

Posted: 02 Aug 2010 06:59 AM PDT

In commentary written specifically for Sense on Cents, our friends from Forextraders.com share some fabulous insights and perspectives on the ups and downs of the equity markets.

The Stock Market Is In Limbo—Which Way Will It Go?
An incredibly positive corporate earnings season in July has helped the market to discount immediate fears of a possible double dip recession. The strong corporate earnings reports, however, had to battle Ben Bernanke's very dovish remarks, as he emphasized the … [visit site to read more]


Q2 Revenues Rise At Bayer

Posted: 02 Aug 2010 06:50 AM PDT

Bayer's (BAYRY) core earnings per share (EPS) during the second quarter of fiscal 2010 came in at €1.15 (approx $1.52) compared with €1.05 (approx. $1.46) in the year-ago period. The Zacks Consensus Estimate for the reported quarter was $1.32.
 
The company recorded a 14.6% year-over-year growth in revenues to €9,179 million. Research and development expenses in the reported quarter climbed 12.7% to €747 million.
 
The three major segments: Healthcare, Material Science … [visit site to read more]


Humana Beats, Ups Outlook

Posted: 02 Aug 2010 06:50 AM PDT

On August 2, 2010, Humana Inc. (NYSE:HUM) reported its second-quarter earnings (excluding special items) of $2.11 per share, well ahead of the Zacks Consensus Estimate of $1.63. This also compares favorably with the earnings of $1.67 in the year-ago quarter.

Further, the adjusted earnings surpassed management's guidance of $1.65-$1.70. The better-than-expected showing was attributable to strong performance at Humana's Government segments along with Commercial segment's improvement, helped … [visit site to read more]


Siemens Beats On Higher Revenues

Posted: 02 Aug 2010 06:50 AM PDT

Siemens AG (NYSE:SI) reported earnings per share from continuing operations of €1.63 ($2.07) for the third quarter of 2010 on revenues of €19.17 billion ($24.35 billion). The corresponding Zacks Consensus Estimates for the quarter were $1.56 and $23.14 billion, respectively.
 
Orders received in the quarter were €20.8 billion ($26.51 billion) and were up 22% from the prior-year quarter. The cumulative backlog for the quarter stood at €89 billion ($113 billion). The combined … [visit site to read more]


Mood Is Shifting On Wall Street Toward Profit-Making

Posted: 02 Aug 2010 06:30 AM PDT

A mood of mild optimism has begun to spread down Wall Street not long after there was nothing but long faces. Fancy that.

More good news out of Europe, better-than-expected new home sales, and the latest of a solid second-quarter earnings season has helped resuscitate the animal spirits that were missing in action since the spring.

Stocks rose past some key milestones in their historic July over the past week, pushing the Dow Jones Industrial Average just barely into positive … [visit site to read more]


Fujifilm Beats On Market Recovery

Posted: 02 Aug 2010 06:30 AM PDT

Fujifilm Holdings Corporation (FUJIY) announced financial results for the first quarter of fiscal year 2011. During the quarter, the company reported an income of ¥17.8 billion (US$193.1 million) compared with a loss of ¥0.7 billion (US$7.2 million) during the same period of 2010. On a per share basis, Fujifilm reported a net income of ¥36.35 or 39 cents per ADR compared with a net loss of ¥1.42 per share or 1 cent per ADR.
 
Revenue topped 9.0% year over year to reach ¥547.4 … [visit site to read more]


Stock Market News Briefs: American International Group, Bank Of America, Coca-Cola Company, Ford Motor Credit Company, Goldman Sachs Group, Humana, J P Morgan Chase & Co, Loews, MetLife, NRG Energy, Oshkosh Truck Corporation

Posted: 02 Aug 2010 06:30 AM PDT

 Humana (NYSE:HUM) posted second quarter earnings of $2.00, versus Zacks estimates of $1.63, on revenues of $8.65 billion, versus Zacks estimates of $8.58 billion. The company provided full-year guidance of $5.65-$5.75

 NRG Energy (NYSE:NRG) topped estimates with second quarter earnings of 81 cents up from Zacks projections of 41 cents, as revenues fell 4.6% to $2.13 billion, but were above Zacks estimates of $2.00 billion

 Loews (NYSE:L) topped projections with second quarter … [visit site to read more]


Zacks Bull And Bear Of The Day Highlights: Jabil Circuit, Quest Diagnostics, Ford, Toyota And Chesapeake Energy

Posted: 02 Aug 2010 06:20 AM PDT

For Immediate Release
Chicago, IL –August 02, 2010 – Zacks Equity Research highlights: Jabil Circuit (NYSE:JBL) as the Bull of the Day and Quest Diagnostics (NYSE:DGX) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Ford (NYSE:F), Toyota (NYSE:TM) and Chesapeake Energy (NYSE:CHK).
Here is a synopsis of all five stocks:
Bull of the Day:
Jabil Circuit’s (NYSE:JBL) results continued to improve in each of the last four quarters. Estimates for the fourth quarter and full-year 2010 … [visit site to read more]


Statoil Slips, Net Increases

Posted: 02 Aug 2010 06:20 AM PDT

Statoil ASA (NYSE:STO) reported weaker-than-expected second-quarter earnings of 18 cents per ADR, compared with the Zacks Consensus Estimate of 51 cents. However, earnings were significantly better than the year-earlier quarter's break-even level. Total revenue in the quarter was NOK 129.2 billion ($20.8 billion).
Adjusted earnings after tax were NOK 10.6 billion ($1.7 billion), up 21% from the year-earlier quarter driven by increased prices for liquids and higher volumes of gas sold, partly … [visit site to read more]


Logitech Beats Estimates

Posted: 02 Aug 2010 06:20 AM PDT

Logitech International SA (NASDAQ:LOGI) announced first-quarter 2011 revenues of $479 million, up 47% from the year-ago quarter. Earnings per share were 11 cents, exceeding the Zacks Consensus Estimate of 3 cents.
 
The company experienced continued improvement in sell-through across Europe, the Middle East and Africa (EMEA), the Americas and Asia-Pacific, with the strongest growth in EMEA and sell-through of products improving in the Americas and Asia-Pacific. Remotes were the fastest growing … [visit site to read more]


Swiss Franc: Under Pressure

Posted: 02 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Japanese Yen: Caution

Posted: 02 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


British Pound: Under Pressure

Posted: 02 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Euro: The Downside Prevails

Posted: 02 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Alcatel-Lucent Slips

Posted: 02 Aug 2010 06:05 AM PDT

Alcatel-Lucent (NYSE:ALU) reported net loss from continuing operations of €0.08 per share or 10 cents per share in the second quarter of 2010, above the Zacks Consensus Estimate of a loss of 6 cents per share. The company had reported net income per share of €0.01 or 1 cent in the second quarter of 2009.
 
The company continues to maintain a check on its cost and expenses, which it believes will deliver substantial benefits in the coming quarters.
 
Total Revenue 
Improving … [visit site to read more]


Is There Something Sinister In Play With Markets Reaction To GDP?

Posted: 02 Aug 2010 06:01 AM PDT

The market’s reaction to last week’s US GDP figures is somewhat baffling to us. The 2.4% annualized pace of growth certainly missed the ambitious 2.6% that consensus had been predicting, but in absolute terms this was still an extremely robust figure for a fully developed economy. Furthermore, the massive upward revision to last quarter’s reading (from 2.7% annualized quarterly growth to 3.7%) would superficially seem to be a more than adequate spoonful of sugar to make up for that … [visit site to read more]


Forex Trading: EURUSD Moves Toward 38.2% Fibo Resisance At 1.3124

Posted: 02 Aug 2010 05:54 AM PDT

Zacks Analyst Blog Highlights: Chevron, ExxonMobil, ConocoPhillips And Royal Dutch Shell PLC

Posted: 02 Aug 2010 05:50 AM PDT

For Immediate Release
Chicago, IL – August 02, 2010 – Zacks.com Analyst Blog features: Chevron Corporation (NYSE:CVX), ExxonMobil (NYSE:XOM), ConocoPhillips (NYSE:COP), and Royal Dutch Shell PLC (RDSA).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Friday's Analyst Blog:
Chevron Profits Shoot Up
Chevron Corporation (NYSE:CVX) — the second largest U.S. oil company — reported a jump in its … [visit site to read more]


Zacks Earnings Preview: American Tower, Expeditors International, Tenent Health, Dean Foods And Electronic Arts

Posted: 02 Aug 2010 05:50 AM PDT

For Immediate Release
Chicago, IL – August 02, 2010 – Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes American Tower (NYSE:AMT), Expeditors International (NASDAQ:EXPD), Tenent Health (TCH), Dean Foods (NYSE:DF) and Electronic Arts (NASDAQ:ERTS)

To see more earnings analysis, visit http://at.zacks.com/?id=3207.
Every day, Zacks.com makes 4 stock picks available, free of charge. To see them, go to http://at.zacks.com/?id=5612.
Employment, … [visit site to read more]


Earnings Scorecard: Reynolds

Posted: 02 Aug 2010 05:50 AM PDT

Reynolds American Inc. (NYSE:RAI) reported second-quarter 2010 earnings on July 22, 2010 that surpassed the Zacks Consensus Estimate on the back of higher cigarette volumes and lower taxes, offset by lower-than-expected snuff profits.

Analysts have now had more than a week to digest the news. Below, we cover the recent earnings announcement, including the subsequent estimate revisions by analysts and the Zacks ratings for both the short and the long term.

Earnings Review

Reynolds delivered … [visit site to read more]


U.S Bank Failures Hit 108

Posted: 02 Aug 2010 05:50 AM PDT

The ongoing economic volatility took its toll on a few more banks last week. On Friday, five more were shuttered by U.S. regulators. These five banks were based in Florida, Georgia, Oregon and Washington. This brings the total number of bank failures to 108 so far in 2010, compared to 140 in 2009, 25 in 2008 and 3 in 2007.
 
Although the economy is showing signs of a gradual recovery with the stabilization of large financial institutions, tumbling home prices, soaring loan defaults and a … [visit site to read more]


Forex Trading: GBPUSD Rallies But Running Into Resistance At 1.5845-65

Posted: 02 Aug 2010 05:41 AM PDT

Zacks Analyst Blog Highlights: Expedia, Fortune Brands, Wynn Resorts, DryShips And Monster Worldwide

Posted: 02 Aug 2010 05:35 AM PDT

For Immediate Release
Chicago, IL – August 02, 2010 – Zacks.com Analyst Blog features: Expedia Inc. (NASDAQ:EXPE), Fortune Brands Inc. (NYSE:FO), Wynn Resorts Ltd. (NASDAQ:WYNN), DryShips Inc. (NASDAQ:DRYS) and Monster Worldwide, Inc. (MWW).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Friday's Analyst Blog:
Expedia Beats, Shares Jump
Expedia Inc. (NASDAQ:EXPE) first quarter earnings beat the Zacks … [visit site to read more]


Canadians Forgo Customer Service For Low Prices [STUDY]

Posted: 02 Aug 2010 05:26 AM PDT

As we tepidly recover from the financial crisis of 2007-2009, we're seeing the residual effects of the economic downturn that stalled commerce around the world—including, of course, consumer activity in North America. In no small way did the downturn affect consumer spending and transaction levels. According to a new study focusing of retail loyalty among consumers it was found that customer service has been replaced by low prices as the leading factor driving shopper loyalty. In short, … [visit site to read more]


Bull Of The Day: Jabil Circuit (JBL)

Posted: 02 Aug 2010 05:05 AM PDT

Jabil Circuit’s (NYSE:JBL) results continued to improve in each of the last four quarters. Estimates for the fourth quarter and full-year 2010 have soared following the company’s strong third quarter 2010 results that beat the Zacks Consensus Estimate.
Third quarter 2010 revenues and earnings both jumped on a year-over-year and sequential basis, attributable to a significant operating margin expansion and growth across end markets. Despite substantial European exposure, Jabil provided upbeat … [visit site to read more]


Stock Buy: Fastenal

Posted: 02 Aug 2010 05:05 AM PDT

Fastenal (NASDAQ:FAST) shares look expensive, trading at 28x 2010 consensus EPS estimates. However, given the company’s stellar growth prospects over the next few years, Fastenal’s P/E mulitple is reasonable.
Business
Fastenal operates as a wholesaler and retailer of industrial and construction supplies. It sells fastener products under two categories: threaded fasteners (nuts, bolts, nuts, screws, and washers) and miscellaneous supplies (paints, various pins and machinery keys, and concrete … [visit site to read more]


Stock Buy: Chipotle Mexican Grill, Inc.

Posted: 02 Aug 2010 05:05 AM PDT

Chipotle Mexican Grill, Inc. (NYSE:CMG) recently rebounded from a small dip lower to move back within striking distance of the all-time high after reporting better than expected Q2 results in late July. Estimates have since been on the move, with the next-year estimate now projecting 19% growth for this Zacks #2 rank stock.
Second-Quarter Results
Chipotle gave the bulls something to cheer about on July 22 with better than expected Q2 results that were driven by higher volumes and continued … [visit site to read more]


Bear Of The Day: Quest Diagnostics (DGX)

Posted: 02 Aug 2010 05:05 AM PDT

Quest Diagnostics (NYSE:DGX) second-quarter EPS of $0.89 beats the Zacks Consensus Estimate by a penny and the year-ago quarter s by 7 cents. However, revenues declined 1.4% to $1.9 billion, driven by a decline in both volume and pricing.
Meanwhile, the company proactively negotiated contracts with some MCOs at reduced prices. Although this gives more visibility, revenue per requisition was affected in the near term. Quest is adopting strategies such as suitable acquisitions, increased sales force … [visit site to read more]


Stock Buy: Tractor Supply Co

Posted: 02 Aug 2010 05:05 AM PDT

Tractor Supply Co (NASDAQ:TSCO) analysts had a very bullish reaction to the company’s recent earnings surprise.
Company Description
Tractor Supply Co. operates over 900 farm and ranch stores across 44 states. The company caters to rural lifestyles and needs with everything from home decor and clothing to truck and equine products.
Another Earnings Beat
On Jul 21 Tractor Supply Co. reported a 12.6% increase in second-quarter sales to $1.07 billion. Same-store sales were up just over 6%. Net income … [visit site to read more]


Stock Buy: Hanger Orthopedic Group

Posted: 02 Aug 2010 05:05 AM PDT

Hanger Orthopedic Group (NYSE:HGR) continues to growth at a consistent rate and recently reported a 19% increase in earnings.
Company Description
Hanger Orthopedic develops, acquires and operates orthotic and prosthetic patient-care centers. The centers make, fit and supervise the use of external musculoskeletal support devices and artificial limbs.
The company also manufactures devices and is the country’s largest distributor of orthotics and prosthetics components.
Income Up 19%
Hanger reported … [visit site to read more]


ZOLL Medical Beats, Net Soars

Posted: 02 Aug 2010 05:05 AM PDT

Resuscitation devices and software company ZOLL Medical (NASDAQ:ZOLL) reported third-quarter fiscal 2010 earnings of 26 cents per share, topping the Zacks Consensus Estimate of 22 cents and the year-ago result of 7 cents. Net income surged more than four-fold year over year to $5.7 million. The better-than-expected results were driven by the strong performance of the company’s LifeVest and Temperature Management businesses.
Revenues climbed roughly 17% year over year to $111.3 million, edging past … [visit site to read more]


Coventry Health Care Raises Outlook

Posted: 02 Aug 2010 05:05 AM PDT

On July 30, 2010, Coventry Health Care Inc. (NYSE:CVH) reported second-quarter income from continuing operations of $149.2 million or $1.01 per share, exceeding the Zacks Consensus Estimate of 57 cents. This also compares favorably with income of $67.7 million or 46 cents in the year-ago quarter. The improved showing was due to a continued emphasis on cost containment throughout the organization.
Coventry’s income from continuing operations excludes the 18 cents per share impact of the Medicare … [visit site to read more]


U.K. Manufacturing Slows In July

Posted: 02 Aug 2010 04:46 AM PDT

Fundamental Headlines
• China Industrial Growth Slows – Wall Street Journal
• Bank Shares Rally in Europe – Wall Street Journal
•Investors See Bright Side of China Slowdown - Financial Times
• Time to Buy Dollars Again as Euro Economies Hit Limits of Fiscal Austerity - Bloomberg
• Fed Finding No Good Deed Goes Unpunished With Mortgage Bond Trades Failing - Bloomberg
GBP/USD: Manufacturing in Great Britain slowed in July from a revised 57.6 to 57.3 to mark the lowest level since … [visit site to read more]


Hot Stock News For Monday 2 August: BP, Exxon, Lloyds, Barclays, HSBC, Prudential, RBS, British Airways, Intel, AIG, Research In Motion, Ford, SAP, Nokia

Posted: 02 Aug 2010 04:45 AM PDT

UK Banks - The Chancellor has urged banks to use revenues that would traditionally be paid in bonuses and dividends to help to fund lending to small and medium enterprises instead. Mr Osborne said that the Government “will not tolerate” banks “piling the pressure” on SMEs, and said that banks have an “economic obligation” to help the sector. (Telegraph)

UK

BP (NYSE:BP) - US Justice staff said to urge subpoenas for co.’s managers. Elsewhere, Imperial, Exxon and co. (NYSE:XOM) form a … [visit site to read more]


Major Moves July: More Interest In Active ETFs, But Asset Growth Tepid

Posted: 02 Aug 2010 04:00 AM PDT

The S&P500 rose by 6.87% in July, as markets digested a slew of earnings reports from corporate in the US and also internationally. Uncertainty though continued to remain in the market, with concerns continuing to hover around in Europe. The results of the European bank stress tests did little to alleviate those concerns because of how "un-stressful" market participants saw those tests being.
In Active ETF land though, the action continued as more players from the mutual fund space, … [visit site to read more]


Stock Market Valuation 08/01/2010

Posted: 02 Aug 2010 03:52 AM PDT

I update market valuations on a monthly basis. I use six metrics to conclude whether the market is overvalued or undervalued.
I collaborate with my colleague Doug Short for some of the data in the article. Doug is an expert on market valuations, and I encourage readers to visit his site dshort.com
As always, I must mention that just because the market is over or undervalued does not mean that future returns will be high or low. From the mid to late 1990s the market was extremely overvalued and … [visit site to read more]


No comments:

Post a Comment