Month: May 2011

SanDisk Corporation ( SNDK ) recently inked a deal with ASUSTeK Computer Incorporated. Financial terms of the deal were not disclosed. […]

VeriFone Systems Inc. ( PAY ) is expected to report its second quarter fiscal 2011 earnings after the market closes on Thursday, June 2, 2011. VeriFone Systems had outperformed the Zacks Consensus Estimate over the trailing four quarters. […]

CVS Caremark ( CVS ) recently announced that it has won a three-year contract to provide integrated pharmacy benefit services for the Blue Cross and Blue Shield Government-wide Service Benefit Plan or Federal Employee Program (FEP). Earlier, Medco Health Solutions ( MHS ) served this solution to Blue Cross and Blue Shield. The new contract will be effective from January 2012 […]

Caterpillar Inc. ( CAT ) offered €600 million worth of bonds through its financial wing at a coupon rate of 2.75%, which are priced at €99.935. The settlement date for the offer is June 6, 2011, while the date of maturity is June 6, 2014 […]

In an effort to expand its business and add channel financing capabilities, Wells Fargo & Co. ( WFC ) is set to acquire its strategic partner, Castle Pines Capital. Yesterday, the company announced that in order to carry out the acquisition process, Wells Fargo Bank NA has entered into a definitive agreement to take over the remaining equity interest in CP Equity LLC, the lone owner of Castle Pines Capital LLC and its affiliates […]

OmniVision Technologies ’ ( OVTI ) fourth quarter earnings of 57 cents a share beat the Zacks Consensus Estimate by a penny, or 1.8%. This was significantly lower than the average positive surprise of 27.2% in the three preceding quarters. So it was not surprising that share prices plunged 8.9% the following day. […]

The U.S. Energy Department's weekly inventory release showed a larger-than-expected build-up in natural gas supplies on the back of an increase in domestic production. […]

We are upgrading our recommendation on the shares of SLM Corp. ( SLM ), better known as Sallie Mae, to Outperform. We believe that the stock price has significant upside potential owing to its leading position in the student lending market, expense curtailment initiatives and acquisition of federal student loan assets […]

Leading medical devices player, Boston Scientific Corporation ( BSX ) has announced a voluntary recall of its iCross catheters. The catheters are used for intravascular ultrasound (IVUS) imaging for patients about to undergo transluminal coronary interventional procedures. This recall involves about 29,664 iCross catheters distributed in the US, Puerto Rico, Trinidad, Tobago and the American Virgin Islands […]

National Retail Properties, Inc. ( NNN ), a publicly owned equity real estate investment trust, successfully closed a $450 million unsecured credit facility, with an option of increasing the facility size up to $650 million. […]

House Republicans will vote tonight on a bill to raise the current $14.3 trillion federal debt ceiling by another $2.4 trillion, according to House Majority Leader Eric Cantor. Though the government hit the debt ceiling on May 16, it still has buffer time until August 2 to avoid defaulting on its payment obligations. However, smooth execution of the bill to raise the debt ceiling depends on the outcome of tonight’s vote […]

Hhgregg Inc. ( HGG ) reported its fourth-quarter and full year 2011 operating results. Income from continuing operations for the quarter were $15.9 million or 39 cents per share, which was above the Zacks Consensus Estimate of 29 cents. […]