Month: August 2011

Standard Motor Products, Inc. ( SMP ) announced that its Board of Directors recently authorized the purchase of up to $5 million of its common stock under a stock repurchase program. Stock will be purchased from time to time in the open market or through private transactions and can be suspended or discontinued if required […]

Joy Global Incorporation ( JOYG ) reported adjusted earnings of $1.54 per share in the third quarter of fiscal 2011 ending July 29, compared with $1.11 per share in the year-ago quarter. The results of the company also surpassed the Zacks Consensus Estimate of $1.50 per share. […]

We are maintaining our Neutral recommendation on Harmony Gold Mining Company Ltd ., ( HMY ), which recorded a net loss of $0.01 per share in the fourth quarter of 2011 versus a profit of $0.08 last quarter. However, revenues were up 22.0% sequentially and 25% year over year to $505 million, driven by a rise in gold price received, offset by a decrease in gold sold. […]

The Automatic Data Processing ( ADP ) employment survey was slightly weaker than expected in August. It shows that private sector employment rose by 91,000, below consensus expectations for a 100,000 increase. […]

Ciena Corp. ( CIEN ) is scheduled to release its third quarter 2011 results before the opening bell on September 1, 2011. We do not see any major variation in analysts’ estimates in the run-up to the earnings release. […]

Brown-Forman Corp. ( BF.B ) recorded fiscal 2012 first-quarter earnings of 81 cents a share compared with 76 cents a share in the year-ago quarter. However, earnings missed the Zacks Consensus Estimate of 83 cents a share. […]

U.S. oil giant ConocoPhillips ( COP ), already in the grip of growing public condemnation and law suits for its earlier oil spills off China’s northern coast near Platform C of the 19-3 Oilfield in the Bohai Bay, has admitted to about seven new leaks to State Oceanic Administration (SOA). The case of enormous oil spill in Penglai 19-3 oilfield is not yet over […]

Despite impressive second quarter 2011 results for Patriot Coal Corporation ( PCX ), expectations of higher costs at the company’s mining operations keep us on the sidelines. We maintain our Neutral recommendation on Patriot. Patriot Coal’s second quarter earnings of 13 cents per share beat our estimates of 10 cents per share. […]