Month: July 2011

Mergers & Acquisitions

SOKO Fitness & Spa Group Went Private as a Result of a Short-form Merger by a Consortium of its Existing Shareholders

July 27, 2011 0

SOKO Fitness & Spa Group Went Private as a Result of a Short-form Merger by a Consortium of its Existing Shareholders PR Newswire HARBIN, China, July 27, 2011 HARBIN, China , July 27, 2011 /PRNewswire-Asia-FirstCall/ — SOKO Fitness & Spa Group, Inc. (OTC BB: SOKF) (“SOKO”), an operator of fitness centers, beauty salons and spas in Northeast China , Beijing , Zhengzhou and Hangzhou today announced that it was informed by Tong Liu, its Chairman and Chief Executive Officer, Xia Yu , its Chief Financial Officer, Bingrong Wu, its Vice President, Chunying Liu , its Director of Operating, Lei Jiang, its Director of Marketing, Guozhe Li, its Director of Investment and Development, Qinyue Sun , Su Liu , Xiangjin Yin , Guerrilla Partners, L.P., Hua-Mei 21st Century Partners, LP, IDG-ACCEL China Growth Fund II L.P., IDG-ACCEL China Investors II L.P., China Golden Leaf Equity Fund SPC, Golden Year Holdings Limited (“Golden Year”) and Lucky Eagle Limited (collectively, the “Contributing Stockholders”) that, pursuant to a contribution and subscription agreement (the “Contribution Agreement”), dated July 25, 2011 , among the Contributing Stockholders, Queen Beauty and Wellness Group Limited (“Queen Beauty”), SOKO Acquisition Corporation, a Delaware corporation and wholly owned subsidiary of Queen Beauty (“Merger Sub”), China Consumer Capital Fund (“CCC”) and Mousserena, L.P. (“Mousse’), on July 27, 2011 (i) the Contributing Stockholders contributed their 90.79% of the shares of common stock, $0.001 par value per share, of SOKO (the “Common Stock”) to Queen Beauty in exchange for 10,819,999 ordinary shares and 9,488,945 preferred shares of Queen Beauty, (ii) CCC, Golden Year and Mousse contributed an aggregate $9,999,994.50 in cash in exchange for 2,222,221 preferred shares of Queen Beauty and (iii) Queen Beauty contributed all of the shares of Common Stock contributed to it by the Contributing Stockholders to Merger Sub in exchange for one (1) share of common stock of Merger Sub […]

Stock Analysts

Amylin Loss Narrows on Lower Costs (ALKS) (AMLN) (LLY)

July 27, 2011 0

Amylin Pharmaceuticals ( AMLN ) reported a net loss of 21 cents per share in the second quarter of 2011, a penny wider than the Zacks Consensus Estimate but well below the year-ago loss of 28 cents. Despite a decline in revenues, year-over-year loss declined due to lower expenses. Second quarter revenues declined 3.8% to $158.1 million. […]

Stock Analysts

Covidien Tops in 3Q, Profit Balloons (BCR) (BDX) (COV) (JNJ)

July 27, 2011 0

International medical technology giant Covidien plc ( COV ) posted third-quarter fiscal 2011 (ended June 24) adjusted earnings per share (from continuing operation) of $1.01, outstripping the Zacks Consensus Estimate of 95 cents and surpassing the year-ago earnings of 85 cents. Adjusted earnings exclude one-time items such as restructuring charges and tax-related adjustments. Net income (from continuing operation) ballooned 51% year over year to $532 million (or $1.06 a share), powered by a sharp decrease in tax and solid growth at the Ireland-based company’s Medical Devices business […]

Stock Analysts

Ecolab’s 2Q EPS Meets, Ups View (CHD) (CLX) (ECL) (NLC)

July 27, 2011 0

Leading cleaning and sanitation products maker Ecolab Inc ’s ( ECL ) second-quarter fiscal 2011 adjusted (excluding special gains/charges and tax-related adjustments) earnings of 64 cents a share matched the Zacks Consensus Estimate while surpassing the year-ago adjusted earnings of 56 cents. The results met the top end of the Minnesota-based company’s guidance of 62-64 cents. Net income (attributable to Ecolab) for the quarter fell 2.6% year over year to $125.9 million (or 53 cents a share), hurt by roughly $30 million in charges associated with the company’s European restructuring program, which offset a double-digit expansion in the top line. […]

Stock Analysts

Allegheny Misses but Profits Increase (ATI) (CRS)

July 27, 2011 0

Allegheny Technologies Incorporated ( ATI ) reported an increase in profit to $76.7 million or 70 cents per share (excluding acquisition related expenses of $12.7 million, net of tax) in the second quarter of 2011 from $36.4 million or 36 cents per share in the same quarter of 2010. However, the profit was lower than the Zacks Consensus Estimate of 73 cents per share. Sales in the quarter increased 28.5% to $1.35 billion, driven by higher shipments for most high-value products, higher raw material surcharges and increases in average base selling prices for many products. […]

Stock Analysts

Exelon Beats EPS, Lags Sales (AEE) (CEG) (EXC) (PPL)

July 27, 2011 0

Exelon Corporation ( EXC ) announced second-quarter 2011 operating earnings of $1.05 per share, up from 99 cents per share in the year-ago quarter and ahead of the Zacks Consensus Estimate of 97 cents. The year-over-year growth in earnings was attributable to new electric and gas distribution rates at PECO effective January 2011, higher realized energy prices in the Mid-Atlantic region due to the expiration of the power purchase agreement and due to special tax deduction related to nuclear decommissioning trust funds. GAAP earnings during the quarter were 93 cents, compared with 67 cents in the year-ago period […]

Stock Analysts

Acxiom Reports In-Line Results (ACXM)

July 27, 2011 0

Acxiom Corporation ( ACXM ) reported revenues of $288.9 million in the first quarter of fiscal 2012, up 6.9% year over year and surpassed the Zacks Consensus Estimate of $277 million. On a segment basis, Information services generated revenues of $225.6 million, up 7.1% year over year. […]

Stock Analysts

Omnicare Tops, View Intact (OCR) (PMC)

July 27, 2011 0

Omnicare Inc. ( OCR ), which sells drugs to long-term care facilities and nursing homes, reported second-quarter fiscal 2011 adjusted (excluding one-time expenses) earnings per share of 50 cents, beating the Zacks Consensus Estimate by a penny. […]

Mergers & Acquisitions

Braskem Acquires the Polypropylene (PP) Business of Dow Becoming the Leader in the US PP Market

July 27, 2011 0

Braskem Acquires the Polypropylene (PP) Business of Dow Becoming the Leader in the US PP Market PR Newswire SAO PAULO, July 27, 2011 SAO PAULO , July 27, 2011 /PRNewswire/ — BRASKEM S.A. (BM&FBovespa: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), the leading resin producer in the Americas announced the acquisition of the Polypropylene Business (“Business”) from The Dow Chemical Company (“Dow”) for US$323 million . This transaction represents an important step in Braskem’s growth strategy in the Americas and also consolidates its PP leadership in the US. […]

Stock Analysts

Initiating Coverage of InVivo Therapeutics (JNJ) (MDT) (NVIV)

July 27, 2011 0

Jason Napodano, CFA Initiating Coverage of InVivo Therapeutics We are initiating coverage of InVivo Therapeutics ( NVIV ) with an Outperform rating and $4.50 price target. We are excited about the opportunity that InVivo presents to investors. There are currently no significant treatment options for patients with SCI […]

Stock Analysts

Zimmer Beats, Revises Outlook (JNJ) (SNN) (ZMH)

July 27, 2011 0

Zimmer Holdings ( ZMH ) reported an adjusted EPS of $1.21 during the second quarter of fiscal 2011, surpassing the Zacks Consensus Estimate of $1.19 and $1.09 in the corresponding quarter of fiscal 2010. Zimmer reported revenues of $1,137 million during the quarter, 7.5% higher than the year-ago period (2.1% at constant exchange rates, CER) and beating the Zacks Consensus Estimate of $1,129 million. While revenues recorded from Americas remained unchanged at $608 million, revenues from Europe and Asia-Pacific increased 17% to $325 million and 19% to $204 million, respectively […]

Stock Analysts

RNR Stumbles Due to CAT Losses (PRE) (RNR) (XL)

July 27, 2011 0

Yesterday, RenaissanceRe Holdings Ltd. ( RNR ) reported second quarter operating loss of 21 cents per share, as opposed to the Zacks Consensus Estimate of operating earnings of $1.64, showing a sharp decline from operating earnings of $2.40 per share reported in the year-ago quarter. […]

Stock Analysts

Fiserv Beats Estimates (FIS) (FISV)

July 27, 2011 0

Fiserv Inc. ( FISV ) reported adjusted income from continuing operations of $163 million (excluding items) or $1.13 per share in the second quarter of 2011, which was up 13% from the year-earlier quarter. The reported figure surpassed the Zacks Consensus Estimate of $1.08 […]