Month: August 2011

Capital One Financial Corporation ( COF ) has finally decided to acquire HSBC Holdings Plc ’s ( HBC ) U.S. credit card business. HSBC was trying to sell the unit since the middle of this year as part of its long-term strategy to reduce costs up to $3.5 billion by 2013and cut back retail banking. […]

Cisco Systems ( CSCO ) has reported its fiscal 4th quarter 2011 earnings results after the bell Wednesday, and issued a positive surprise on both the top and bottom lines. Revenues for the quarter reached $11.2 billion, above the Zacks Consensus Estimate of $10.99 billion. At Zacks, we use the adjusted earnings figures and subtract stock-based compensation […]

Oil refiner and marketer Sunoco Inc. ( SUN ) announced plans to buy back up to $500 million of its common stock, joining many others who are returning cash to shareholders. Sunoco – the general partner and 34% stakeholder in crude oil pipelines/terminals operator Sunoco Logistics Partners L.P […]

SunTrust Banks Inc. ( STI ) announced a hike in quarterly cash dividend on Tuesday. […]

Nokia Corporation ( NOK ), the largest mobile phone manufacturer in the world, declared solid second quarter 2011 financial results, beating both the top-line and bottom-line expectations. However, loss of market share in the global mobile phone market persisted as the company sold lesser number of handsets. […]

Buoyed by strong operating results and robust activity levels throughout North America, we have upgraded oilfield services company National Oilwell Varco ( NOV ) to Outperform from Neutral. National Oilwell Varco, which ranks ahead of Cameron International Corp. ( CAM ) as the biggest U.S. […]

Roche Holdings Ltd. ( RHHBY ) has been having an eventf ul run in recent times, and the latest news of the European Commission approving RoActemra (tocilizumab) adds to the string of recent developments. RoActemra has been approved for use as a treatment for active Systemic Juvenile Idiopathic Arthritis (sJIA) in patients who are two years and older and have responded inadequately to previous therapy with NSAIDs (nonsteroidal anti-inflammatory drugs) and systemic corticosteroids. […]

Masimo Corporation ( MASI ), a leader in non-invasive monitoring know-how for patient care, posted second-quarter fiscal 2011 earnings per share of 28 cents, meeting the Zacks Consensus Estimate. Reported profit increased 19.3% year over year to $17 million. Revenues Revenues for the quarter rose 9% year over year to $109.6 million, missing the Zacks Consensus Estimate of $111 million. […]

The international commercial airplane producer, The Boeing Co. ( BA ) received orders, amounting to $5.6 billion, for 20 airplanes of its 777 model from two airliners. Boeing received an order for 8 777-300 ERs airplanes from Singapore Airlines Ltd. […]

We are reiterating our Underperform recommendation on the shares of Tower Group Inc. ( TWGP ) following second quarter results which reported earnings of 63 cents missing the Zacks Consensus Estimate by a penny. Lower-than-expected results came on the back of huge catastrophe charges, partly mitigated by higher revenues and a lower share count due to share buybacks […]

Defense contractor Lockheed Martin Corporation ( LMT ) has received a contract from the Naval Air Systems Command (NAVAIR) to provide maintenance servic es for the Tactical Tomahawk Weapons Control System (TTWCS), one of the three major components that comprise the Tomahawk Weapons System. Additionally, as part of the latest contract, Lockheed Martin will also provide the software development, systems engineering, software and hardware deployment support needed to upgrade TTWCS. The latest contract awarded to Lockheed Martin is the exercise of a $13 million option by NAVAIR on an existing software development contract to sustain TTWCS. […]

Southern Union Company ( SUG ) reported second quarter 2011 adjusted earnings of 41 cents per share, a penny ahead of the Zacks Consensus Estimate as well as the prior-year figure. Including one time-items of 6 cents, the company reported a GAAP EPS of 47 cents in the quarter compared with 55 cents in second quarter 2010. Operating Statistics Revenue in the quarter totaled $631.6 million, up from the Zacks Consensus Estimate of $554 million as well the prior-year top-line figure of $573.1 million. […]

Sara Lee Corp. ( SLE ), one of the world’s leaders in manufacturing and marketing of a range of branded packaged meat, bakery, and beverage products is shedding off its North American refrigerated dough business to Ralcorp Holdings Inc ( RAH ), for approximately $545 million. The two retail giants are expected to ink the deal by the end of calendar year 2012. […]