Month: August 2011

General Dynamics Land Systems-Canada, a business unit of General Dynamics Corporation ( GD ), received a contract worth $49.2 million from the U.S. Army TACOM Life Cycle Management Command. Per the contract, General Dynamics will provide training and field service support for Light Armored Vehicles (“LAV”) that was previously supplied under a Foreign Military Sale (“FMS”) contract […]

MICROS Systems, Inc. ( MCRS ) reported revenues of $274.1 million in the fourth quarter of fiscal 2011, up 10.4% year over year. […]

(This posting is a continuation of " GDP: Growth Revised Down, Quality Up .") G for Government Government spending subtracted 0.18 (0.23) points to growth in the second quarter, down from a 1.23 (1.20) point drag in the first quarter, and a 0.58 (0.34) point drag in the fourth quarter. I should point out that in the GDP accounts it is only government consumption and investment that is counted as part of G. […]

We maintain our ‘Neutral’ rating on Cousins Properties Inc. ( CUZ ), a Georgia-based real estate investment trust (REIT) engaged in the acquisition, financing, development, management, and leasing of office, retail and industrial properties throughout the U.S. Cousins Properties has a diversified portfolio with a broad array of product types – office, retail, urban residential and single-family communities that mitigates operating risks associated with the economic down cycles. […]

This is essentially the same post as I put up on July 29th when the first cut at the GDP numbers for the second quarter came out. I have put the new, revised figures in italics . The original numbers are shown in regular font and parenthesis immediately after the new numbers. […]

According to insider sources familiar with the situation, the initial public offering (IPO) of Toys ‘R’ Us – a leading global retailer of dedicated toys and baby products, is not likely to take place before the first half of 2012 at the earliest. Toys ‘R’ Us had earlier planned to file for an IPO to the tune of about $800 million in May 2010, but is yet to finalize its timing even after a span of approximately 15 months. The New Jersey-based toy retailer that operates stores under its namesake brand, the Babies 'R' Us and FAO Schwarz labels, has reportedly captured more market share from its rivals in 2010 than it has in the last 20 years of its operations. […]

We are currently maintaining our long-term Neutral recommendation on Telephone and Data Systems Inc. ( TDS ). […]

We continue to have a Neutral recommendation on SurModics Inc. ( SRDX ) with a target price of $11.00. We are encouraged by the efforts made by SurModics to streamline its operations and improve efficiencies […]

W e reiterate our recomme ndation on Aflac Inc. ( AFL ) at Neutral, based on the current sustainability factor. The company’s second quarter operating earnings per share of $1.56 came in a couple higher than the Zacks Consensus Estimate of $1.54 but modestly exceeded $1.35 reported in the year-ago quarter. […]

BHP Billiton Ltd. ( BHP ) announced completion of its acquisition of U.S.-based Petrohawk Energy Corporation ( HK ). The takeover was completed by BHP through a short-form merger of its wholly owned subsidiary with and into Petrohawk, under the Delaware law […]

CIT Group Inc. ( CIT ) announced a new revolving credit facility of $2 billion with a consortium of key relationship banks. The new credit facility with an interest rate of LIBOR +2.00-2.75% (with no floor) would mature in August 2015. […]

Independent power producer, The AES Corporation ( AES ) announced that it is planning to invest R$1.1 billion ($683 million) in Brazil via its Brazilian arm AES Tiete. The new investment will increase its energy-generation capacity in the state of Sao Paulo enabling it to meet the conditions of a court order. A court has ordered AES Corporation to enhance its power-generation capacity in Sao Paulo after it failed to meet the terms of the state-owned utility's purchase agreement in 1999 […]