Month: August 2011

Brian Marckx, CFA Positive Developments at Zynex Zynex Inc. ( ZYXI ) has announced several positive developments over the last week which should work towards addressing certain issues that the company has faced. Last Thursday Zynex announced that they signed a letter of intent to acquire NeuroDyne Medical Corp, a privately-held Cambridge, MA based manufacturer of medical devices for electromyography (sEMD) and autonomic nervous system monitoring […]

On account of the recent phone hacking scandal, New York State's comptroller discarded a $27 million contract involving the New York State Education Department and News Corporation 's ( NWSA ) education arm, Wireless Generation, The Wall Street Journal reported. News Corporation is going through a rough patch with allegations of hacking and breach of privacy, including illegal access to the bank account details of the former Prime Minister Gordon Brown and pilfering the medical records of his son. Moreover, the reporters of the media house were also accused of bribing royal bodyguards to divulge information. […]

We have maintained a Neutral rating on Dendreon Corporation ( DNDN ) with a target price of $13 per share after appraisal of the second quarter 2011 results. Dendreon Corporation reported weaker-than-expected second quarter 2011 sales of $49.6 million of its potential blockbuster prostate cancer vaccine Provenge, though up from prior quarters. Revenues also disappointed the Zacks Consensus Estimate of $59 million in the second quarter […]

We recently maintained a Neutral recommendation on Zug Switzerland-based Foster Wheeler AG ( FWLT ). Operating through two segments, the Global Engineering and Construction Group (Global E&C Group), the company serves the following industries: Oil and Gas; Oil Refining; Chemical & Petrochemical; Pharmaceutical; Environmental; Power Generation; and Power Plant Operation and Maintenance. We believe that world demand for energy will continue to grow over the long term and clients will continue to invest in new and upgraded capacity to meet that demand. […]

The leading operator of practice-based ambulatory surgery centers (ASCs), AmSurg Corporation ( AMSG ) recently revised its bid offer for acquiring Dallas-based ASC operator, National Surgical Care (NSC). As per the updated terms of the deal, Amsurg lowered the offer price to $135 million in cash from the original offer price of $173.5 million, as announced in April 2011. AmSurg also agreed to pay an additional $7.5 million if NSC’s earnings exceed the specified targets for fiscal 2012. […]

CACI International Inc. ( CACI ) recently entered into an agreement to repurchase 4 million shares from Bank of America N.A. ( BAC ) for $209.7 million. […]

ACE Limited ( ACE ) is well poised on the strength of its international presence, diversified product offering, risk management, conservative underwriting practice and strong reserves. The company also returns value to its shareholders through dividend increases and scores strongly with the rating agencies. However, given the exposure shrinkage due to the stressed economy that is also impacting the clients’ insurance budgets; we do not expect a robust improvement in the top line any time soon […]

We maintain our cautious stance on Integrys Energy Group Inc. ( TEG ) as the performance of the company during the first half of the year failed to meet our expectation. […]