Monday, September 13, 2010

Daily Markets - Stock Picks For Tuesday 14 September: Intel, Motorola, Ciena, THQ

Daily Markets - Stock Picks For Tuesday 14 September: Intel, Motorola, Ciena, THQ

Stock Picks For Tuesday 14 September: Intel, Motorola, Ciena, THQ

Posted: 13 Sep 2010 06:11 PM PDT

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Motorola, Inc. (NYSE:MOT) broke out from the horizontal resistance on expanding volume. This momentum could push this stock much higher from here. Next resistance is now seen at $8.62.

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Ciena Corporation (NASDAQ:CIEN) has a Bullish looking stock chart, price broke out from the horizontal resistance mark around $14.44 share today on good volume. The uptrend continuation scenario is slightly more likely at the moment. Shareholders may … [visit site to read more]

Goldman Sachs Upped To Neutral

Posted: 13 Sep 2010 03:05 PM PDT

We are upgrading our recommendation on Goldman Sachs Group Inc. (GS) to Neutral considering its business model, competitive position in the market, the impact of the recent regulatory reforms and the company's strategic efforts to comply with them.

Goldman's second quarter 2010 earnings per share of $2.75 were significantly ahead of the Zacks Consensus Estimate of $2.10. Earnings surpassed the estimate due to lower operating expenses, partially offset by lower revenues. However, including … [visit site to read more]

American Oriental Bio Neutral

Posted: 13 Sep 2010 02:35 PM PDT

We are maintaining our Neutral recommendation on American Oriental Bioengineering (AOB) with a target price of $2.50.

American Oriental Bioengineering, based in Beijing, China, together with its wholly-owned subsidiaries, is a pharmaceutical company which develops, manufactures and commercializes both plant-based pharmaceutical (PBP) and plant-based nutraceutical (PBN) products.

American Oriental Bioengineering recently delivered second quarter 2010 earnings per share of $0.07, which fell … [visit site to read more]

IBM’s New Poland Center

Posted: 13 Sep 2010 02:05 PM PDT

International Business Machines Corp. (IBM) announced that it has opened a new technology service delivery center in Wroclaw, Poland. This center aims at capitalizing on the opportunities in the services, business process outsourcing capabilities and optimization business. The cost details were not given out.
 
IBM has built global delivery service centers in more than 20 countries worldwide. Through these centers, IBM provides IT and BPO services as well as automation and support to its … [visit site to read more]

ICE Link Launches C=C For Its CDS

Posted: 13 Sep 2010 02:05 PM PDT

For the first time in the industry, IntercontinentalExchange Inc. (ICE) launched the Novation Consent=Confirmation (C=C) initiative through its ICE Link platform on Sept 12, in order to smooth the credit default swap (CDS) processes in the market.

Over the past year, regulators had been seeking such an operation that could make automated OTC derivative transaction more cost-effective and efficient while also providing transparency. Finally, ICE Link's C=C came as the answer for such a … [visit site to read more]

SurModics Stays Neutral

Posted: 13 Sep 2010 01:35 PM PDT

SurModics (SRDX), headquartered in Eden Prairie, Minnesota, is a provider of surface modification and drug delivery technologies to the healthcare industry. Following the changes in operational structure affected in 2008, the company currently operates through the following business units: cardiovascular, ophthalmology, SurModics pharmaceuticals (constituting the “therapeutic” segment) and In Vitro Technologies (diagnostics).
 
Surmodics performed disappointingly in the most recent … [visit site to read more]

TiVo Teams With Samsung

Posted: 13 Sep 2010 01:05 PM PDT

A leading provider of advanced television services and personal video recorders (PVRs), TiVo Inc. (TIVO) announced a partnership with the premier provider of home solution and telecommunication technologies Samsung Electronics Co. Ltd.
 
Under the collaboration, the companies will jointly build an advanced, TiVo-ready, high definition PVR set-top box for digital video broadcasting (DVB) operators. The new PVR set top box will hit the market in 2011. Financial details on the deal were not … [visit site to read more]

TECO Strives To Cut CO2 Emission

Posted: 13 Sep 2010 01:05 PM PDT

In a quest to lower emission levels, electric utility TECO Energy Inc. (TE) said that its subsidiary Tampa Electric company will construct a pilot project, which will remove sulfur and capture and sequester carbon dioxide (CO2) from the Tampa Electric Polk Power Station’s 250-megawatt integrated gasification combined cycle unit.
 
TECO Energy will partner with RTI International for the development and completion of the pilot project. The design, construction and operation of the pilot … [visit site to read more]

SAT Math Test 2010: Huge Gender Gap Persists With A 34 Point Advantage For High School Boys

Posted: 13 Sep 2010 12:40 PM PDT

The College Board released data today on SAT scores for college-bound seniors in 2010, here are some highlights of the results relating to the 2010 SAT Mathematics test:

1. Continuing a trend that has persisted for many decades, high school boys continued to score significantly higher on the 2010 SAT Math test that their female counterparts, by 34 points this year: the average male score this year was 534 vs. the average female score of 500, see chart above.  The male … [visit site to read more]

Ball Corp Ups Stake In Brazilian JV

Posted: 13 Sep 2010 12:35 PM PDT

Ball Corporation (NYSE:BLL) has raised its stake in the Brazilian beverage packaging joint venture, Latapack-Ball Embalagens Ltda, by 10.1%. With this additional hike in stake, the company now has an ownership of approximately 60% in the joint venture.
 
Latapack-Ball operates metal beverage packaging manufacturing plants in Tres Rios, Jacarei and Salvador, Brazil. Sales of Latapack-Ball for full-year 2010 are expected to approximate $360 million.
 
On its part, Ball Corporation has … [visit site to read more]

Covidien Backs FDA Safety Warning

Posted: 13 Sep 2010 12:35 PM PDT

Ireland-based health care product maker Covidien plc (NYSE:COV) has backed the U.S. Food and Drug Administration’s (FDA) recent labeling changes for Gadolinium-based contrast agents (GBCAs) for patients with renal diseases. GBCAs, which contain the chemical element gadolinium, are injectable drugs that are frequently used in magnetic resonance imaging (MRI) scans.
 
The FDA released a mandate on September 9, 2010, which requires warnings to be issued on the use of specific GBCAs. This … [visit site to read more]

Cyberonics Stays Neutral

Posted: 13 Sep 2010 12:35 PM PDT

We recently reiterated our Neutral recommendation on Cyberonics (NASDAQ:CYBX), a medical technology company with core expertise in neuromodulation.
 
Cyberonics reported an EPS of 25 cents in the first quarter of fiscal 2011, surpassing both the Zacks Consensus Estimate of 21 cents and 23 cents in the year-ago period. However, excluding the benefit associated with debt refinancing, EPS in the first quarter of fiscal 2011 was 15 cents.
 
Revenues were $44.8 million, marginally beating the … [visit site to read more]

Enbridge’s Line 6A Shut Post Leak

Posted: 13 Sep 2010 12:05 PM PDT

Enbridge Energy Partners L.P. (NYSE:EEP) has completed collecting oil on Line 6A of the Lakehead System in Romeoville, Illinois. The partnership's crude oil pipeline was shut down immediately after Line 6A ruptured on September 9.
 
While the partnership failed to identify the cause, it succeeded in spotting the source of leakage on the 34-inch pipeline, which is a part of its Lakehead System. The line transports light synthetics, heavy and medium crude oil from Superior, Wisconsin, to … [visit site to read more]

LabCorp To Acquire Genzyme Genetics

Posted: 13 Sep 2010 12:05 PM PDT

Leading diagnostic company Laboratory Corporation of America Holdings (NYSE:LH) has decided to acquire Genzyme Genetics, a unit of Genzyme Corporation (NASDAQ:GENZ) for $925 million. This asset was put up for sale in May 2010 to increase shareholder value. Genzyme's plan to divest the other two units – Diagnostic Products and Pharmaceutical Intermediates – is still on track.
 
Genzyme Genetics, which provides complex reproductive and oncology testing services, performs more than 1.5 million … [visit site to read more]
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