Month: August 2011

Microsemi Corporation ’s ( MSCC ) third quarter earnings for fiscal 2011 beat the Zacks Consensus Estimate by a penny. Revenue Microsemi reported revenue of $216.7 million, up 4.4% sequentially, 59.3% year over year and within management’s expectations of a 3-5% sequential increase. Revenue by End Market Following the announcement of the Actel acquisition, end markets generating Microsemi’s revenue have now been classified as Defense & Security, Aerospace, Enterprise & Commercial (formerly mobile/connectivity and notebooks/LCD TVs/display segments) and Industrial & Alternative Energy (formerly Industrial/Semicap and Medical segments). […]

Technology outsourcing and consulting major Accenture plc ( ACN ) recently won a 10-year technology service contract from the Internal Revenue Service (IRS) department. These contracts are the primary procurement vehicles for technology-related services within the Internal Revenue Service (IRS) and other Treasury bureaus. The IRS department short listed 33 companies including Accenture Federal Services as prime contractors for this multiple-award contract. […]

Independent oil and gas explorer Canadian Natural Resources Ltd. ( CNQ ) reported better-than-expected second-quarter results, buoyed by higher liquids prices. Earnings per share, excluding one-time and non-cash items, came in at 56 Canadian cents (57 cents), above the Zacks Consensus Estimate of 49 cents […]

Fossil Inc . ( FOSL ), one of the world’s leading designer, marketer and distributor of fashion accessories worldwide, is scheduled to report its second-quarter 2011 financial results on Tuesday, August 9, 2011. The current Zacks Consensus Estimate for the quarter is pegged at 75 cents a share. […]

Don’t panic. This is not the time to be scared by heated talks on the possibility of a so-called double-dip recession. The global stock market has come crashing down close on the heels of the debt ceiling raise and the dramatic downgrade of the U.S. […]

Recently, we upgraded Boston Scientific Corporation ( BSX ) to Outperform with a target price of $7.75. Boston Scientific reported an EPS of 10 cents during the second quarter of fiscal 2011 compared to 6 cents in the year-ago period. However, after considering certain adjustments (other than amortization expense), the adjusted EPS came in at 12 cents, beating the Zacks Consensus Estimate of 8 cents and the year-ago quarter’s 6 cents. […]

SurModics Inc. ’s ( SRDX ) third quarter fiscal 2011 earnings (excluding special items) of $0.13 per share beat the Zacks Consensus Estimate by $0.09 and the year-ago adjusted earnings by $0.02. The impressive year over year performance was primarily attributable to lower operating expenses. […]

Micromet Inc .’s ( MITI ) second quarter 2011 loss per share came in at 19 cents (after adjusting for the change in fair value of warrants), wider than the year-ago loss of 15 cents per share (also adjusting for the change in fair value of warrants). The loss was, however, narrower than the Zacks Consensus Estimate of a loss of 21 cents due to higher-than-expected revenues. […]

Leading cardiac assist devices maker Abiomed ’s ( ABMD ) first-quarter fiscal 2012 adjusted (excluding one-time items other than stock-based compensation expenses) net loss per share of 11 cents was higher than the Zacks Consensus Estimate of a loss of 5 cents. However, on a reported basis, net loss trimmed 23% year over year to $4.6 million (or 12 cents a share) riding on solid revenues from the company’s popular Impella cardiac pumps. Revenues & Margins Revenues cruised 25% year over year to $27.4 million, but modestly missed the Zacks Consensus Estimate of $28 million. […]

Warner Chilcott ’s ( WCRX ) second quarter 2011 earnings (excluding special items) of $0.94 per share surpassed the Zacks Consensus Estimate by $0.05 but fell short of the prior-year earnings by $0.01. On a reported basis, the company earned $0.28 per share, down 39% year over year. The reported results included the costs due to the restructuring of the Western European operations by Warner Chilcott and costs incurred towards using its Manati, Puerto Rico manufacturing facility as a warehouse and distribution service center […]

The second largest Canadian telecommunications company, Telus Corporation ( TU ) has reported second quarter adjusted earnings per ADS of $0.99 (C$0.96 per share), missing the Zacks Consensus Estimate by a penny. Adjusted earnings increased 5.5% from C$0.91 in the year-ago quarter. Adjusted earnings exclude an income tax benefit of 3 Canadian cents […]