Wednesday, September 22, 2010

Daily Markets - Stock Picks For Thursday: Apple, THQ, Bed Bath & Beyond, Generex Biotechnology, Cell Therapeutics, Somaxon Pharmaceuticals

Daily Markets - Stock Picks For Thursday: Apple, THQ, Bed Bath & Beyond, Generex Biotechnology, Cell Therapeutics, Somaxon Pharmaceuticals

Stock Picks For Thursday: Apple, THQ, Bed Bath & Beyond, Generex Biotechnology, Cell Therapeutics, Somaxon Pharmaceuticals

Posted: 22 Sep 2010 06:06 PM PDT

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Today’s stock on the spotlight is THQ Inc. (NASDAQ:THQI). The stock today surged nearly 9% or 34 cents to $4.14 per share after the video game maker was more upbeat than analysts expected at a Goldman Sachs (NYSE:GS) investor’s conference. The CEO Brian Farrell touted the company’s up-coming game releases such as “Homefront” and “Red Faction: Armageddon” and said most of the company’s development efforts will be focused on the Xbox 360 and PlayStation 3 for the … [visit site to read more]

‘It’s Just Happening Spontaneously’

Posted: 22 Sep 2010 04:49 PM PDT

PBS NewsHour correspondent recently sat down with colleague and business and economics correspondent Paul Solman and asked him how the series of pieces he’s been doing in recent weeks and months about people who are underemployed, unemployed, and really trying to find work have been different than the range of stories he’s been doing for the sho for so long.

The striking thing — one striking thing — and actually, a somewhat disturbing thing when you’re …doing the interviewing, is how many … [visit site to read more]

Lockheed Wins $10M Navy Contract

Posted: 22 Sep 2010 03:05 PM PDT

The largest US defense contractor, Lockheed Martin Corporation (NYSE:LMT) won a $10 million contract from the U.S. Navy for the development of software for the aircrews of MH-60R and MH-60S multi-mission helicopters designed and manufactured by Sikorsky Aircraft Corporation, to enable them to pre-plan their missions. The software will be known as unique planning component.

The software will be configured with the U.S. military's Joint Mission Planning System (JMPS) with the newest mission … [visit site to read more]

China’s PLAN In The Indian & Pacific Oceans: The Game Is Changing And The US Is Now On The Defensive

Posted: 22 Sep 2010 03:01 PM PDT

Two warships of the People's Republic of China (PRC) People's Liberation Army-Navy (PLAN) docked at a port in Myanmar on August 29, 2010, in the first publicized PLAN ship visit — but not the first actual PLAN visit — to Myanmar.

It was a move designed to help pre-position the PRC in its relations with Myanmar in the lead up to that country's upcoming national elections. The move also ended two decades of discreet PRC approaches to its naval presence in the Indian Ocean.  It also … [visit site to read more]

PVR-PVG Decide To Merge

Posted: 22 Sep 2010 02:35 PM PDT

Master limited partnership Penn Virginia Resource Partners L.P. (NYSE:PVR) has agreed to merge with its general partner, Penn Virginia GP Holdings L.P. (NYSE:PVG), which holds a 37.6% stake in Penn Virginia Resources.

The transaction will involve completion of 100% equity consideration, resulting in the cancellation of PVG's incentive distribution rights and PVR's limited partnership units owned by PVG. Following the merger, Penn Virginia Resources will own Penn Virginia GP, entirely.

Under the … [visit site to read more]

Orphan Status For Catalyst Drug

Posted: 22 Sep 2010 02:35 PM PDT

Recently, Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) announced that its pipeline candidate CPP-115, which is being developed for treating infantile spasms, has been granted orphan drug status by the US Food and Drug Administration (FDA).

The candidate is currently undergoing multiple preclinical studies to evaluate its safety and efficacy in various indications. The company intends to file an Investigational New Drug (IND) application for the candidate in the first half of … [visit site to read more]

Skyworks Ups Guidance

Posted: 22 Sep 2010 02:05 PM PDT

Chipmaker Skyworks Solutions, Inc. (NASDAQ:SWKS) upgraded its guidance for the fourth quarter of fiscal 2010, driven by broad-based improvements in order demand.

Skyworks now anticipates revenues of $310 million in the fourth quarter, up from the prior expectation of $300 million, representing a 36% year-over-year growth and a 13% sequential growth.

Excluding stock-based compensation expenses and restructuring charges, EPS is now expected at 40 cents per share, up from the previous estimate of 37 … [visit site to read more]

Clorox To Move Auto Care Unit

Posted: 22 Sep 2010 02:05 PM PDT

Clorox Corporation's (NYSE:CLX) concerted efforts since May in 2010 to find a buyer for its auto-care unit has finally reached fruition as Avista Capital Partners enters into an agreement to acquire the Global Auto Care business from Clorox for a pay-out of $780 million, subject to regulatory approval and other closing conditions.

The auto unit's distinguished brands, Armor All and STP, are marketed across the U.S., Australia, Canada and Europe. Armor All products, mostly in the form of … [visit site to read more]

GM Has No Business Using Our Money On Campaign Contributions

Posted: 22 Sep 2010 01:40 PM PDT

General Motors has given $90,500 to candidates in the current election cycle, according to the Federal Election Commission.
Hmmm? Last time I looked, you and I and every other U.S. taxpayer owned a majority of GM. That means some of the money we're earning as GM owners is being used to influence how we vote in the upcoming mid-term election.
To put it another way, we taxpayers are paying some people (GM executives) to tell us how we should vote for another group of people (House and Senate … [visit site to read more]

CarMax Beats On Used Vehicle Sales

Posted: 22 Sep 2010 01:35 PM PDT

CarMax Inc. (NYSE:KMX) showed a profit of $107.9 million or 48 cents per share in the second quarter of its fiscal 2011, beating the Zacks Consensus Estimate of 40 cents per share. The profit was slightly higher than $103 million or 46 cents per share in the prior-year quarter. The improvement in profit was primarily driven by increases in Used vehicle sales and Wholesale vehicle sales.

Net sales and operating revenues in the quarter went up 13% to $2.34 billion, higher than the Zacks Consensus … [visit site to read more]

Deutsche Bank Expects 3Q Loss

Posted: 22 Sep 2010 01:35 PM PDT

Deutsche Bank AG (NYSE:DB) expects a loss in the third quarter of 2010. This is due to a €2.3 billion ($3 billion) charge from the revaluation of the company's stake in Deutsche Postbank, which the company agreed to purchase in 2008. Weak market conditions during the third quarter have added to its woes.

Deutsche Bank's corporate-banking and securities business, which is generally a strong contributor of its revenue, has suffered seasonal reductions, threatening a fall in performance from … [visit site to read more]

Analyst Interviews: Chemical Stock Review And Outlook

Posted: 22 Sep 2010 01:05 PM PDT

OVERVIEW

The chemical industry consists of companies engaged in the processing and refinement of agricultural and industrial chemicals as well as gases. Chemicals are used to make a wide variety of consumer goods, besides being necessary in the agriculture, manufacturing, construction and service industries. The European Union and the US are home to the world’s largest chemical companies.

The US chemical industry is divided into four segments — basic chemicals, life sciences, specialty … [visit site to read more]

Analyst Interviews: Chemical Stock Review And Outlook

Posted: 22 Sep 2010 01:05 PM PDT

OVERVIEW

The chemical industry consists of companies engaged in the processing and refinement of agricultural and industrial chemicals as well as gases. Chemicals are used to make a wide variety of consumer goods, besides being necessary in the agriculture, manufacturing, construction and service industries. The European Union and the US are home to the world’s largest chemical companies.

The US chemical industry is divided into four segments — basic chemicals, life sciences, specialty … [visit site to read more]

Analyst Interviews: Chemical Stock Review And Outlook

Posted: 22 Sep 2010 01:05 PM PDT

OVERVIEW

The chemical industry consists of companies engaged in the processing and refinement of agricultural and industrial chemicals as well as gases. Chemicals are used to make a wide variety of consumer goods, besides being necessary in the agriculture, manufacturing, construction and service industries. The European Union and the US are home to the world’s largest chemical companies.

The US chemical industry is divided into four segments — basic chemicals, life sciences, specialty … [visit site to read more]

Celera And Abbott Sign Deal

Posted: 22 Sep 2010 01:05 PM PDT

Recently, Celera Corporation (NASDAQ:CRA) has signed a four-year distribution agreement with Abbott Laboratories (NYSE:ABT) to market Celera's KIF6 diagnostic test in Abbott's m2000 instrument. The KIF6 test is aimed at identifying an individual's risk of coronary heart disease (CHD) and response to statin therapy. Earlier, in June 2010, Celera received CE Mark approval for its real-time PCR (polymerase chain reaction) test to detect a variant in the KIF6 gene.
 
While Celera will … [visit site to read more]

Weatherford Stays Neutral

Posted: 22 Sep 2010 01:05 PM PDT

We maintain our Neutral recommendation on Weatherford International (NYSE:WFT) shares. Strong performance in North America and Europe/West Africa/CIS segments offset the Latin American weakness. We prefer the stock for its growing international prospects, particularly in Russia and Iraq. Though the drilling moratorium has minimal impact on the company's bottom line, we are concerned about the weakness in Latin America and near-term growth pace in international margins.
 
Switzerland-based … [visit site to read more]

Textron To Fly Low

Posted: 22 Sep 2010 12:35 PM PDT

The Providence, Rhode Island-based diversified conglomerate, Textron Inc. (TXT) expects further headwinds in demand for its Cessna business jets. Exposure to continued weakness in new aircraft orders have resulted in the company  adjusting aircraft production schedules and reducing headcount at its Cessna business unit.
 
Textron is a global multi-industry company that manufactures aircraft, automotive engine components and industrial tools. It is also a provider of solutions and … [visit site to read more]

FactSet Tops Expectations

Posted: 22 Sep 2010 12:35 PM PDT

FactSet Research (NYSE:FDS) reported third quarter 2010 EPS of 83 cents, exceeding the Zacks Consensus Estimate of 80 cents.

Revenue

The company reported revenue for the fourth quarter of $168.2 million, up 8.2% from $155.5 million reported in the year-ago quarter. Factset witnessed some benefits from investments made during the downturn, which helped results across all its key segments.

Revenues from the U.S. were $114.7 million, up 8.0% compared to the year-ago quarter. Non-U.S. revenues also … [visit site to read more]

Good News For Boston Scientific

Posted: 22 Sep 2010 12:35 PM PDT

In a positive development for Boston Scientific's (NYSE:BSX) cardiovascular portfolio, its Promus Element everolimus-eluting stent received CE Mark approval for use in diabetic patients and those experiencing heart attack. While the company received CE Mark approval for the Promus Element stent in October 2009, its Taxus Element paclitaxel-eluting stent received approval in May 2010, which included a specific indication for the treatment of diabetic patients. Approval for additional indication … [visit site to read more]

Positive Data For AMMD’s Elevate

Posted: 22 Sep 2010 12:05 PM PDT

Leading pelvic-health devices provider American Medical Systems (AMMD) has announced encouraging clinical study results for its Elevate Apical and Posterior vaginal prolapse (or pelvic organ prolapse) repairing system. The company has published the results at the 2010 annual meeting of the International Urogynecological Association (IUGA) and International Continence Society (ICS).
 
The 12-month study, which was conducted at sixteen centers across the U.S., Canada, Belgium and UK … [visit site to read more]

BofA Leads The Industry In HAMP

Posted: 22 Sep 2010 12:05 PM PDT

On Tuesday, Bank of America Corporation (BAC) announced that since January 2008 it has provided mortgage modifications to more than 680,000 homeowners, making it the leader in the sector. This included 79,859 modifications under the U.S. government’s Home Affordable Modification Program (HAMP) till August 2010. Besides, more than 6,00,000 customers who did not qualify for the government-sponsored program received modifications from the company.
 
However, even for BofA, the number of … [visit site to read more]

China Is One Big Greenfield Project

Posted: 22 Sep 2010 11:54 AM PDT

For those of you unfamiliar with him, I recommend you read Thomas Friedman of the NY Times. In an OpEd piece today entitled “Too Many Hamburgers?” The passage that really caught my eye was:
“With enough cheap currency, labor and capital — and authoritarianism — you can build anything in nine months……But have no illusions. I am not praising China because I want to emulate their system. I am praising it because I am worried about my system. In deliberately spotlighting China's … [visit site to read more]

Gold’s Flashing A Technical Buy Signal

Posted: 22 Sep 2010 11:50 AM PDT

When the dot com bubble burst and stocks entered a secular bear market, gold did just the opposite and began a secular bull.

As you can see on the chart below, this bull market is doing quite well. In fact, on Monday gold broke out to a new all–time closing high of $1,278.35, thus once more confirming its uptrend.

And it's no wonder! The fundamental background for a rising gold price is extremely supportive …

Ever-higher government debts in most … [visit site to read more]

Wyndham & Planet Hollywood Team Up

Posted: 22 Sep 2010 11:35 AM PDT

Wyndham Worldwide Corporation (WYN) subsidiary Wyndham Hotel Group announced recently that it has entered into a license agreement with Planet Hollywood Resorts International LLC.
 
As per the agreement, Wyndham will franchise the Planet Hollywood Hotels brand and provide management services globally. However, Wyndham will have no right on brand's trademarks and intellectual property; the rights will be retained to Planet Hollywood only.  The Planet Hollywood brand was founded in … [visit site to read more]

ZOLL Propaq M Gets FDA Green Signal

Posted: 22 Sep 2010 11:35 AM PDT

Resuscitation devices maker ZOLL Medical (ZOLL) has secured 510 (k) approval from the U.S. Food and Drug Administration (FDA) for its Propaq M monitor, a transport monitor designed to address needs of military customers and air medical operations globally.
 
The Propaq M is a monitor-only version of the company's Propaq MD defibrillator (developed in collaboration with the Department of Defense and leading medical diagnostic devices maker Welch Allyn) which was approved in July 2010. It … [visit site to read more]

Does Larry Summers Need A Break?

Posted: 22 Sep 2010 11:07 AM PDT

In light of the recently released news that Larry Summers will be leaving the White House National Economic Council later this year, I am compelled to ask whether Larry needs a break. What's that you say? Break? What type of experience does Larry have with breaks? Great question. Glad you asked. Can we ever forget Larry's performance in early 2009? Let's rewind the tape as I highlighted, Not Again, Larry!!,

I wish I were joking, but Larry Summers, Director of the National Economic … [visit site to read more]

J.B. Hunt Initiated At Neutral

Posted: 22 Sep 2010 11:05 AM PDT

We are initiating coverage on J.B. Hunt (NASDAQ:JBHT) with a Neutral rating. Currently, the stock has a Zacks #3 Rank (Hold).
 
Our positive outlook on J.B. Hunt is based on continued strength in freight demand, strong balance sheet, improved rail service and network capabilities, continuous dividend disbursement as well as improving truckload fundamentals. J.B. Hunt will try to recover pricing that was lost over the last two years and its profitability is expected to increase in the near … [visit site to read more]

NextGen And VHA Team Up

Posted: 22 Sep 2010 11:05 AM PDT

NextGen Healthcare Information Systems Inc., a 100% subsidiary of electronic health record provider Quality Systems Inc. (NASDAQ:QSII), recently entered into an agreement with VHA Inc., a nation-wide health care facility network serving 1,400 non-profit hospitals and 30,000 non-acute care providers.
 
As per agreement terms, VHA will promote NextGen's financial and clinical solutions to its ambulatory and hospital subscribers. NextGen will, in turn, offer preferential pricing for its … [visit site to read more]

Schlumberger Launches New System

Posted: 22 Sep 2010 10:35 AM PDT

Yesterday, Schlumberger Limited (NYSE:SLB) launched a new downhole reservoir testing system – Quartet. The company said that the user of Quartet will be provided with a high-performance downhole reservoir testing system, which helps to isolate, control, measure and sample in a single run.
 
The company claims that with the introduction of Quartet, reservoir testing will become easier for its customers as it is a combination of four technologies engineered specifically for reservoir … [visit site to read more]

IBM Partners Jet Airways

Posted: 22 Sep 2010 10:35 AM PDT

International Business Machines Corp. (NYSE:IBM) has entered into a ten-year agreement, worth $62 million, with India's leading international airline, Jet Airways.
 
Under the terms of the agreement, IBM will provide IT infrastructure and application support services including employee transition, data center operations, central helpdesk support, server and storage operations, Internet security services by deploying its Tivoli suite, network management, support for SAP AG (NYSE:SAP) … [visit site to read more]
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