Daily Markets - Zumiez Beats, Reverses Loss

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• Zumiez Beats, Reverses Loss
• Caterpillar On A Roll, July Up
• FDA Panel Favors Cymbalta Expansion
• Generic Risk For Gilead’s Hepsera
• Choice Hotels Offers Senior Notes
• Hormel Surpasses Expectations
• Athenahealth Offers Stand-alone HER
• Verizon To Launch IPad Live TV App
• Cardica Misses But Losses Trim
• CNOOC Posts A Robust First Half
• AFC Beats, Raises Outlook
• Earnings Preview: Medtronic
• Boeing Expands Operations
• Merge Upgraded To Neutral
• ETP Prices Public Offering
• Logitech Launches New Keyboard
• Earnings Preview: WPP Group Plc
• FMC Tech Gets $36M Total Project
• GOL Upgraded To Neutral
• Earning Scorecard: Viacom Inc.
• Priority Review For HGSI’s Benlysta
• Dell Misses By A Penny
• Earnings Scorecard: COPEL
• Singapore Stock Market Update For Friday 20 August

Zumiez Beats, Reverses Loss Posted: 20 Aug 2010 11:35 AM PDT Specialty retailer Zumiez Inc. (NASDAQ:ZUMZ) reported second-quarter earnings from operations of 2 cents a share, beating the Zacks Consensus Estimate of a loss of 1 cent. The company also reversed the loss of 7 cents it posted in the second quarter of 2009. Net income from operations was $1.1 million compared with a loss of $1.8 million in the prior-year quarter.   On a reported basis, Zumiez broke even in the quarter under review. The company incurred costs of $1.0 million or 2 cents per … [visit site to read more]

Caterpillar On A Roll, July Up Posted: 20 Aug 2010 11:35 AM PDT Caterpillar Inc. (NYSE:CAT), citing robust growth across all regions, reported a 32% year-over-year jump in global sales for the three-month rolling period ended July 2010, a stark contrast to the 48% drop in sales in the comparable year-ago period. In May 2010, the company had recorded a growth of 11%, reversing a long trend of global decline since September 2008. Compared to May, growth doubled in June and almost tripled in July.   Growth in July was led by the Asia Pacific region with … [visit site to read more]

FDA Panel Favors Cymbalta Expansion Posted: 20 Aug 2010 11:35 AM PDT Eli Lilly (LLY) is a step closer to gaining approval from the US Food and Drug Administration (FDA) for expanded use of one of its key drugs, Cymbalta. The FDA's nesthetic and Life Support Drugs Advisory Committee recently voted 8-6 in favor of approving Cymbalta for expanded use.   Eli Lilly is seeking approval for the use of Cymbalta for the management of chronic low back pain and treatment of chronic pain due to osteoarthritis. The advisory panel was also asked to vote on whether … [visit site to read more]

Generic Risk For Gilead’s Hepsera Posted: 20 Aug 2010 11:05 AM PDT Gilead Sciences Inc. (NASDAQ:GILD) recently announced that Sigmapharm Laboratories, LLC is seeking to manufacture and market a generic version of Gilead’s hepatitis B (HBV) treatment, Hepsera. Sigmapharm Labs submitted an Abbreviated New Drug Application (ANDA) with the US Food and Drug Administration (FDA) for the same. Gilead is currently reviewing the letter. We expect the company to file a patent infringement suit against Sigmapharm Labs within 45 days. This should prevent the regulatory body … [visit site to read more]

Choice Hotels Offers Senior Notes Posted: 20 Aug 2010 11:05 AM PDT Choice Hotels International Inc (NYSE:CHH), a hotel franchisor worldwide, announced its offer of $250 million senior notes, which have an interest rate of 5.7% and will mature in 10 years. The offering is expected to close by August 25, 2010. Silver Spring, Maryland based company plans to use the sale proceeds of bonds to lessen its debt burden under its unsecured revolving credit facility. Choice Hotels International has no intention to make any corresponding reduction in its credit facility in … [visit site to read more]

Hormel Surpasses Expectations Posted: 20 Aug 2010 11:05 AM PDT Hormel Foods Corporation (NYSE:HRL) posted strong results for the third quarter of fiscal 2010 with an EPS of 63 cents, up from 57 cents in the year-ago quarter. Reported EPS also surpassed the Zacks Consensus Estimate of 59 cents. Net income stretched 13.6% year over year to $85.4 million from $77.2 million in the third quarter of 2009. The increase was driven by revenues growth coupled with cost maintenance. During the quarter, net revenues were $1,730.5 million, up 9.9% from $1,574.4 million in … [visit site to read more]

Athenahealth Offers Stand-alone HER Posted: 20 Aug 2010 10:35 AM PDT Leading medical billing and records software provider Athenahealth Inc (NASDAQ:ATHN) has announced that from now on it will offer its web-based “athenaClinicals” electronic health record (EHR) service on a stand-alone basis to hospitals and community physicians.   Previously, the customers were required to buy the company’s flagship service “athenaCollector” (an Internet-based billing and practice management solution) to use athenaClinicals under a bundled service platform.   The … [visit site to read more]

Verizon To Launch IPad Live TV App Posted: 20 Aug 2010 10:35 AM PDT Verizon Communications (NYSE:VZ) plans to launch a software application for mobile devices that will enable the FiOS TV customers to watch live television shows and movies on Apple Inc.’s (AAPL) iPad.   FiOS TV customers can watch one program through Verizon’s set-top box on a traditional TV and another program on the iPad with an in-home Wi-Fi connection. Verizon expects the launch of iPad Live TV App in 2011.   This new launch will minimize competition from cable rivals such as … [visit site to read more]

Cardica Misses But Losses Trim Posted: 20 Aug 2010 10:05 AM PDT Surgical devices maker Cardica Inc (NASDAQ:CRDC) announced fourth quarter fiscal 2010 (ended June 30, 2010) net loss per share of 13 cents, a penny higher than the Zacks Consensus Estimate. However, net loss clipped roughly 11% year over year to $3.1 million on account of lower operating costs, helped by downsizing. For fiscal 2010, net loss trimmed 37% year over year to $10.9 million (or 50 cents a share). Net revenues for the fourth quarter halved year over year to $1 million as the company … [visit site to read more]

CNOOC Posts A Robust First Half Posted: 20 Aug 2010 10:05 AM PDT CNOOC Ltd. (NYSE:CEO) reported its first-half 2010 results. Net profit in the period increased 109.6% year over year to 25.99 billion yuan ($3.8 billion).Earnings per share were 58 yuan per ADR ($8.5).   Total revenue in the period was 83.16 billion yuan ($12.2 billion), up 104.6% from the year-earlier level. Oil and gas sales were 67.64 billionyuan ($9.9 billion), up 108%. The robust results were driven by solidproduction growth and strong oil price realizations. The realized crude oilprice … [visit site to read more]

AFC Beats, Raises Outlook Posted: 20 Aug 2010 10:05 AM PDT AFC Enterprises Inc. (NASDAQ:AFCE) posted its second quarter 2010 adjusted earnings of approximately 21 cents per share, which surpassed the Zacks Consensus Estimate of 19 cents and soared 16.7% year over year from 18 cents in the prior-year quarter. Including $1.4 million tax benefit in the quarter, AFC Enterprises reported a net income of $6.8 million or 26 cents, well below $6.4 million or 25 cents recorded in the year-earlier quarter.  The better-than-expected results were driven by … [visit site to read more]

Earnings Preview: Medtronic Posted: 20 Aug 2010 09:35 AM PDT Leading medical devices company, Medtronic (NYSE:MDT), is expected to report its first-quarter fiscal 2011 results before the market opens on Tuesday, August 24, 2010. Medtronic has provided guidance for the first quarter of 2011. Revenues and EPS are expected in the range of $3.86-$3.96 billion and 79-81 cents, respectively. If revenues and EPS meet expectations, it will represent a growth of 5-8% at constant exchange rates (CER) and 10-13%, respectively. The current Zacks Consensus Estimate for … [visit site to read more]

Boeing Expands Operations Posted: 20 Aug 2010 09:35 AM PDT The Boeing Company (NYSE:BA) has announced plans to open a new manufacturing facility at the MidAmerica St. Louis Airport in Mascoutah. The company said that this facility, Boeing's first manufacturing venture in Illinois, will use the existing building at the MidAmerica airport to manufacture components for the company's St. Louis-based defense business. This facility located close to the Boeing Defense, Space & Security (BDS) headquarters (based in St. Louis), has an established, … [visit site to read more]

Merge Upgraded To Neutral Posted: 20 Aug 2010 09:35 AM PDT We have upgraded Merge Healthcare (NASDAQ:MRGE) to Neutral with a target price of $2.75. Merge reported adjusted net loss per share of 3 cents compared with the Zacks Consensus Estimate of loss per share of 2 cents. Revenues were $29 million, up 89% from the year-ago quarter. This is not comparable since the reported quarter included revenues from AMICAS ($13.9 million), subsequent to its acquisition on April 28, 2010. However, revenues were lower than the Zacks Consensus Estimate of $34 … [visit site to read more]

ETP Prices Public Offering Posted: 20 Aug 2010 09:05 AM PDT Energy Transfer Partners L.P. (NYSE:ETP) - a natural gas and propane gas master limited partnership (MLP) - priced a public offering of 9.5 million common units at $46.22 per unit, with a 30-day over-allotment option for an additional 1.425 million units. Energy Transfer plans to use the net proceeds from this offering to pay back the outstanding debt under its revolving credit facility, to finance capital expenditures associated with pipeline construction projects and for general partnership … [visit site to read more]

Logitech Launches New Keyboard Posted: 20 Aug 2010 09:05 AM PDT Logitech International (NASDAQ:LOGI) has launched a rechargeable, illuminated keyboard titled K800. It features light and motion sensors aimed to conserve battery life and provide adequate backlight when needed. It incorporates a USB cable to enable recharging the battery while typing. The keyboard is ergonomically designed to make every keystroke comfortable and quiet. It boasts of 2.4 GHz wireless connectivity, eliminating delays and link failures. The K800 is expected to be available from the … [visit site to read more]

Earnings Preview: WPP Group Plc Posted: 20 Aug 2010 09:05 AM PDT Ireland-based advertising titan WPP Group Plc. (NASDAQ:WPPGY) is slated to release its second-quarter 2010 results on August 24, 2010. First-Quarter Performance    On April 30, WPP Group Plc reported revenue of ₤2.078 billion ($3.234 billion), down 1.8% year over year (up 6.6% in US$) and up 0.5% on a constant currency basis due to the strength in pound sterling versus the US dollar and Euro. Excluding the impact of acquisitions and currency fluctuations, revenue was flat relative … [visit site to read more]

FMC Tech Gets $36M Total Project Posted: 20 Aug 2010 09:05 AM PDT Oil drilling equipment maker FMC Technologies Inc. (NYSE:FTI) announced the receipt of a $36 million call-off contract from French oil major Total SA (NYSE:TOT). The deal calls for FMC Technologies to manufacture and supply additional subsea production systems to Total-operated Block 17 development, located offshore Angola. FMC Technologies said that the call-off (for one option included in an existing contract) includes the manufacture of four subsea trees, controls and associated equipment. The … [visit site to read more]

GOL Upgraded To Neutral Posted: 20 Aug 2010 09:05 AM PDT We are upgrading our recommendation on GOL Linhas Aereas (NYSE:GOL), the first Brazilian low-fare airline, from Underperform to Neutral stemming from our optimism about the continuous increase in passenger traffic and the fleet renewal program.  GOL has been continuously recording an increase in passenger traffic with a 12.2% year-over-year increase in July 2010. During the second quarter of fiscal 2010, domestic traffic grew 17.0% year over year and international traffic shot up by … [visit site to read more]

Earning Scorecard: Viacom Inc. Posted: 20 Aug 2010 09:05 AM PDT Viacom Inc. (VIA.B) reported mixed financial results for the third quarter of fiscal 2010. Net earnings soared in the reported quarter while revenues remained lackluster. In tune with the results, the recent Zacks Consensus Estimate revision trend also remains flat. We believe positive and negative factors are equally responsible for this mixed opinion among analysts. Growth in affiliate fees, theatrical and advertising revenues were offset by lower home entertainment revenues. Second Quarter … [visit site to read more]

Priority Review For HGSI’s Benlysta Posted: 20 Aug 2010 09:05 AM PDT Human Genome Sciences, Inc. (NASDAQ:HGSI) received a huge boost when its potential blockbuster drug candidate Benlysta was granted priority review status by the US Food and Drug Administration (FDA). Benlysta, co-developed by Human Genome and GlaxoSmithKline plc (NYSE:GSK), has been developed for the treatment of patients suffering from systemic lupus erythematosus (SLE). The US regulatory authority generally reviews those drugs on a priority basis, which offer major advances in treating diseases … [visit site to read more]

Dell Misses By A Penny Posted: 20 Aug 2010 09:05 AM PDT Dell Inc. (NASDAQ:DELL) reported second quarter fiscal 2011 earnings per share (EPS) of 29 cents, below the Zacks Consensus Estimate of 30 cents. Revenues Revenues for the second quarter of fiscal 2011 were $15.5 billion, up 21.7% from $12.8 billion reported in the year-ago quarter and up 4.4% from $14.9 billion reported in the previous quarter. The company's second quarter revenue growth may be attributed to strength across all business segments (other than consumer) and to the integration of … [visit site to read more]

Earnings Scorecard: COPEL Posted: 20 Aug 2010 09:05 AM PDT Companhia Paranaense de Energia (NYSE:ELP), also known as COPEL reported quite disappointing results for the second quarter of 2010. Higher costs eroded the modest increase in revenue leading to a 53.2% dip in the company's net income. Weaker results also dimmed the growth prospects for the quarters ahead, despite the company being well-positioned to benefit from the growing electricity demand in Brazil. Earnings Review On August 11, Companhia Paranaense de Energia reported a 53.2% … [visit site to read more]

Singapore Stock Market Update For Friday 20 August Posted: 20 Aug 2010 06:48 AM PDT Hi Everyone, We have a piece of good news to share. Our friend, Benjamin, is conducting a talk on "Pitfalls & Perspectives of Investing" on next Saturday, 28th August 2010. He's a very experienced and knowledgeable trader whom we can learn from to benefit our investment journey. (Read on for Speaker's Bio Data) All of you are welcome to attend the talk. Simply fill up the Contact Us Form and we will inform him for seats reservation. Please include your (a) name (b) email address and … [visit site to read more]

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