Month: August 2011

Nokia Corporation ( NOK ), the world’s largest mobile phone maker, recently announced the launch of two new handsets, namely Nokia 100 and 101 priced at $30 and $35, respectively, targeting the low-end market. Nokia 101 is a dual-sim phone with 16GB expandable memory and is slated to be launched in the upcoming quarter of 2011 while Nokia 100 is scheduled to hit the market later this year. Nokia 101 is expected to cash in on the growing popularity of Nokia’s dual sim handsets in the low-end market and will mark the company’s fifth dual sim phone in the last three month period […]

Avnet Inc. ( AVT ) will host its virtual Power Forum for a full 24 hrs, through its business region Avnet Electronics Marketing Americas. […]

Whirlpool Corporation ( WHR ) recently announced the retirement plans of Roy Templin, executive vice president and chief financial officer of the company. According to the plan, he will handle his current responsibilities till April 2012 to complete the company’s year-end reporting and other transitional items. He will be succeeded by Larry Venturelli, the current senior vice president, corporate controller, chief accounting officer and chief financial officer for Whirlpool International […]

Krispy Kreme Doughnuts Inc. ( KKD ) posted second quarter 2012 adjusted earnings of 6 cents per share, in line with the Zacks Consensus Estimate. […]

Shoe Carnival Inc. ( SCVL ) recently posted second quarter 2011 earnings of 20 cents per share, well below the Zacks Consensus Estimate of 30 cents and the year-earlier quarter earnings of 32 cents per share. The company delivered poor quarterly earnings mainly due to a decline in traffic at stores. […]

We reiterate our recommendation on Visa Inc. ( V ) at Neutral based on the its comprehensive portfolio diversification efforts amid the regulatory sting on debit card segment. […]

NCR Corporation ( NCR ) finally wrapped up the acquisition of Radiant Systems Inc., a provider of cash registers and other point-of-sale devices for the retail and hospitality industries, for $1.2 billion in cash. Alpharetta, Georgia-based Radian develops touch-screen terminals, servers, handheld devices and software to manage operations such as day-to-day transactions, costs and employee management. Its customers include Exxon Mobil ( XOM ), Kroger ( KR ) and Nordstrom ( JWN ). […]

As part of its effort to overhaul the U.S. Consumer Banking arm, Citibank, the banking unit of Citigroup Inc. […]

Scientific Games Corp. ( SGMS ) signed a new contract with New York Lottery, after winning a competitive procurement process in May 2011. […]

Tiffany & Company ( TIF ) posted better-than-expected second-quarter 2011 results buoyed by improved demand for luxury items worldwide and consequently raised its full year outlook. The quarterly earnings of 86 cents a share surpassed the Zacks Consensus Estimate of 70 cents, and rose substantially from 55 cents earned in the prior-year quarter. The Zacks Consensus Estimate rose by a penny over the last 30 days with only 2 out of 17 analysts covering the stock revising the estimates upward, and none lowering the projections […]

Reuters reported that CME Group Inc. ( CME ) has cut its margin requirements for crude oil futures in the US by about 4% given the consistent price decline and the gradually diminishing volatility in the market. […]

We recently maintained a Neutral recommendation on New York-based International Flavors & Fragrances Inc. ( IFF ). The company, a creator and manufacturer of fragrance and flavor products, has operations in the United States and internationally […]

According to Bloomberg report and other sources, The Goldman Sachs Group Inc. ( GS ) plans to slash salaries of some London-based investment bankers. This move would put an end to the two-year pay rise deal agreed upon in 2009. […]

Canadian natural gas company EnCana Corporation ( ECA ) announced that one of its subsidiary, EnCana Oil & Gas, intends to divest its North Texas natural gas producing assets in the Fort Worth Basin located in the Barnett Shale play by late 2011 or early 2012. However, the sale is subject to receiving an acceptable bid, approval of the companies’ boards of directors and other customary conditions and regulations. The asset, which is well poised for future development, was acquired in 2004 under the company’s corporate acquisition initiative targeted to build a major land and production position in the U.S […]