Month: August 2011

We maintain our long-term Neutral recommendation on Zumiez Inc. ( ZUMZ ). Zumiez is a mall-based specialty retailer of action-sports related apparel, footwear, equipment, and accessories […]

Cousins Properties Inc. ( CUZ ), a real estate investment trust (REIT), reported second quarter 2011 FFO (fund from operations) of $10.9 million or 11 cents per share, compared with $7.9 million or 8 cents in the year-earlier quarter. Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation, amortization and other non-cash expenses to net income. […]

Buoyed by a robust operating performance and favorable growth prospects, we are upgrading crude oil pipelines and terminals operator Sunoco Logistics Partners L.P. ( SXL ) to Outperform from Neutral. […]

In recent quarters, U.S. banks are struggling with legal issues related to mortgage-backed securities issued during the financial crisis. Consequently, the Securities and Exchange Commission (SEC) and other U.S […]

ANADIGICS ( ANAD ) reported net sales of $35.6 million in the second quarter of 2011, down 18.1% sequentially and down 31.1% from a year ago. The results were in-line with management’s guidance and the Zacks Consensus Estimate of $36 million. The sequential decline in the second quarter was primarily due to a decrease in shipments to one of the largest North American customers – Research In Motion ( RIMM ) […]

Macy’s Inc. ’s ( M ) constant focus on price optimization, inventory management, merchandise planning and private label offering positions it to drive traffic, meet customer-oriented demand and improve in-store shopping experience. We remain optimistic about the company’s customer-centric localization initiative called ‘My Macy’s.’ The program aims at improving comparable-store sales and reducing operating expenses, with stores and merchandise assortments focusing on local customer needs and preferences […]

Grant Zeng, CFA CytRx Reports Second Quarter 2011 Financial Results On August 9, CytRx ( CYTR ) reported second quarter 2011 financial results. Licensing revenue was $150,000 for the second quarter of 2011 and the Company did not report revenue for the second quarter of 2010. Research and development (R&D) expenses were $1.9 million for the second quarter of 2011 and included development expenses for the Company’s programs of $0.9 million for INNO-206, $0.1 million for bafetinib and $0.3 million for tamibarotene […]

Sao Paulo, Brazil-based Companhia de Saneamento Basico do Estado de Sao Paulo , or SABESP’s ( SBS ) net income for the second quarter 2011 improved 50.1% year over year and more than doubled sequentially to R$479.6 million (US$301.6 million), or R$2.11 per share (US$2.65 per ADR). Earnings per ADR also surpassed the Zacks Consensus Estimate of US$1.91 per ADR by a wide margin. SABESP’s impressive earnings performance was due primarily to lower operating and financial expenses in the quarter. […]

Microchip Technology Incorporated ( MCHP ) reported earnings of 49 cents in the first quarter of fiscal 2012, missing the Zacks Consensus Estimate by a penny. The company noted that the results were disappointing due to weak global economic conditions, resulting in soft demand and bookings across market segments and customers. First Quarter Earnings Highlights Revenues for the quarter came in at $374.5 million, up 4.9% year over year but down 1.4% sequentially. […]

Macy’s Inc. ’s ( M ) constant focus on price optimization, inventory management, merchandise planning and private label offering positions it to drive traffic, meet customer-oriented demand and improve in-store shopping experience. We remain optimistic about the company’s customer-centric localization initiative called ‘My Macy’s.’ The program aims at improving comparable-store sales and reducing operating expenses, with stores and merchandise assortments focusing on local customer needs and preferences […]

Forest Laboratories, Inc. ( FRX ) and partner Ironwood Pharmaceuticals, Inc. […]

Veolia Environnement ( VE ) announced financial results for the first half of 2011. The company reported an operating loss per share of €1.05 in the first half of 2011 versus operating earnings of €0.67 in the first half of 2010. […]

We downgraded our recommendation on ProAssurance Corp. ( PRA ) to Neutral based on the ongoing weak macro cues that have been reducing investment portfolio and cash flow. […]

We are upgrading our recommendation on Charles Schwab Corp. ( SCHW ) to Neutral from Underperform based on better results compared to the prior-year quarter and an improvement in client assets. […]

Global power technologies company, American Superconductor Corporation ( AMSC ) announced steps to put its house in order. The moves were precipitated after its revenues were impacted due to business and contractual issues with its largest customer in China — Sinovel Wind Group Co. Ltd. […]

We downgraded our recommendation on American International Group Inc. ( AIG ) to Underperform from Neutral based on the critical sustainability factor given the weak global cues, sluggish insurance dynamics and consistent cash outflow. Despite raising funds in the past few quarters and repaying a chunk of its debt, AIG is yet to attain capital flexibility […]