Month: August 2011

We have maintained our Neutral recommendation on a major independent oil and gas exploration and production company, EOG Resources Inc. ( EOG ), following the second quarter 2011 results. […]

One of the world's leading premier specialty retailer, Gap Inc. ( GPS ) recently posted second-quarter 2011 results. […]

Anadarko Petroleum Corporation ( APC ) said it has discovered light boil at the Akasa-1 exploration well on the West Cape Three Points Block offs hore Ghana. Drilled to total depths of 12,850 feet (3,920 meters) in water depths of 3,800 feet (1,160 meters), the well encountered 108 net feet (33 meters) of high-quality oil pay from four main Turonian-aged sand packages, similar to those found in the Jubilee and Mahogany East areas. The Akasa-1 discovery builds upon the partnership's successful West Cape Three Points program, enhancing the resource potential of this prolific area […]

Yesterday, NYSE Euronext Inc. ( NYX ) reached another milestone on receiving a green signal for its merger with Deutsche Boerse from the Committee on Foreign Investment (CFI) in the US. The CFI is a prime regulatory body in the US comprising government officials representing the justice, commerce, state, defense and homeland security departments. […]

Kellogg Co. ( K ) is out to enhance its Customer Relationship Management (CRM) and in connection to that has decided to join with Epsilon, a subsidiary of Alliance Data Systems Corporation ( ADS ). […]

Recently, we reiterated our Neutral recommendation on Thermo Fisher Scientific ( TMO ) with a target price of $55.00. Thermo Fisher reported an adjusted EPS of 99 cents in the second quarter of fiscal 2011, a penny above the Zacks Consensus Estimate and 22% higher from the second quarter of 2010. Revenues increased 12% year over year to reach $2.90 billion during the quarter, beating the Zacks Consensus Estimate of $2.81 billion. […]

In a bid to optimize its resources and maximize long-term growth potential SurModics Inc. ( SRDX ) announced that it will trim its work-force by 9%. The move is expected to result in annual savings of approximately $1.7 million to $2.0 million […]

Terreno Realty Corporation ( TRNO ), a real estate investment trust (REIT), has recently acquired an industrial property in Doral, Florida, for approximately $4.4 million. The acquisition is part of the long-term strategy of the company to desist from pursuing ground-up development or land investments, and instead own functional and flexible buildings in infill locations that can be modified to accommodate single and multiple tenants at discounts to replacement cost. […]

A unit of ExxonMobil Corporation ( XOM ), ExxonMobil Pipeline Company, has received approval from the U.S. Department of Transportation's Pipeline and Hazardous Materials Safety Administration to restart a 20-mile (32-kilometer) stretch of the Silvertip pipeline running between Laurel and Billings, Montana. […]

Charles River Laboratories International Inc. ( CRL ) recently announced that it will combine its Research Models and Services (RMS) and Preclinical Services (PCS) businesses into a single unit. The newly aligned business will run operations in North America and Europe/Asia […]

The number of banks on the Federal Deposit Insurance Corporation’s (FDIC) list of problem institutions saw a sharp decline to 865 in the second quarter from 888 in the sequentially preceding period, the agency said in its quarterly report on the health of the nation's banking system on Tuesday. This represents the first quarterly drop since 2006. Things looked so much brighter in the second quarter given the shrink in the problem list accompanied by overall profit earned for the eighth straight quarter by FDIC insured banks. […]