Month: August 2011

General Motors Company ( GM ) plans to establish its base in Indonesia after quitting the market in mid-2000s, when it closed a small assembly plant near Jakarta. The Detroit-based automaker intends to make up for the sluggish sales in other markets, including the U.S. […]

Magna International Inc. ( MGA ) revealed that its exterior and interior systems unit has expanded in China by forming a joint venture, MCC Wuhu Exteriors, to purchase an existing 300,000-square-foot injection molding and painting facility in Wuhu, located in the Anhui province of southeastern China. The joint venture is controlled by Magna Exteriors and Interiors (51%), Changshu Automotive Trim Co […]

Biogen Idec ( BIIB ) and Abbott Labs ( ABT ) recently presented positive top-line data on their multiple sclerosis candidate, daclizumab. Biogen and Abbott Labs presented data from a phase IIb study – SELECT. The global, randomized, double-blind, placebo-controlled, one-year, dose-ranging study was conducted to evaluate the safety and efficacy of daclizumab in 600 patients with relapsing-remitting multiple sclerosis (RRMS) […]

Broadridge Financial Solutions Inc. ’s ( BR ) fourth-quarter fiscal 2011 adjusted earnings per share of 94 cents beat the Zacks Consensus Estimate of 91 cents and improved from 84 cents earned in the prior-year quarter. Higher recurring revenue prompted the outperformance, partially offset by higher operating expenses and tax rate […]

Citigroup Inc. ( C ) is boosting its Asian Prime Finance division by increasing the headcount 20% to 80, according to a Reuters report. The hiring comes as part of the company’s effort to take advantage of the boom in the hedge fund industry in the region. […]

Video game developer and publisher, Electronic Arts Inc. ( ERTS ), better known as EA, announced that EA Sports’ latest soccer game FIFA Soccer 12 will hit retail stores on September 27, 2011. […]

DTS Inc. ( DTSI ) announced that its audio technology has been selected by Pantech for its Vega range of tablet phones and smartphones. […]

Intuitive Surgical ( ISRG ) reported favorable second-quarter 2011 results. Earnings per share came in at $2.91, beating the Zacks Consensus Estimate of $2.71 and the year-ago figure of $2.19. Second Quarter Review Revenues increased 21% year over year to $426 million, beating the Zacks Consensus Estimate by $411 million […]

Liberty Global Inc. ( LBTYA ), a leading cable operator in Europe, Latin America, and Australia, continues to suffer setback regarding its ongoing business restructuring strategy. […]

We are maintaining our long-term Neutral rating on one of the world's largest energy companies, BP Plc ( BP ). Although the company missed our expectation in the second quarter of 2011, its string of upstream activities keeps us upbeat on its ability to regain its old form. Last quarter, BP reported lower-than-expected second-quarter 2011 earnings mainly due to lower production volumes (including the impact of divestments) and higher costs (including rig standby costs in the Gulf of Mexico/GoM) […]

Medivation Inc. ( MDVN ) reported a loss of 27 cents per share in the second quarter of 2011, a penny wider than the Zacks Consensus loss Estimate of 26 cents and well above the year-ago loss of 21 cents. […]