Month: August 2011

San Francisco, California-based premier international specialty retailer, Gap Inc. ( GPS ), intends to further expand its global footprint by opening its first ever Banana Republic store in Paris. […]

Varian Medical Systems ( VAR ) recently revealed that it has entered into an agreement with Bank of America Corporation ( BAC ) to repurchase common stock, amounting to $250 million, under its accelerated share repurchase program. Simultaneously, Varian enhanced the borrowing capacity of its revolving credit facility with Bank of America from $225 million to $300 million. As per the agreement, Varian will pay Bank of America $250 million and, in turn, receive some 3.8 million shares, which constitute 85% of the shares covered by the transaction based on the closing price, as of August 24, 2011 […]

We reiterate our recommendation on Philip Morris International Inc. ( PM ) based on the weak economic cues that give way to operating and financial leverage risk, high taxes coupled with regulations imposed by governments of several countries. The company reported second-quarter income from continuing operations of $1.34 per share, surpassing the Zacks Consensus Estimate of $1.21 per share […]

Teva Pharmaceutical Industries Ltd. ( TEVA ) recently received a boost with the US District Court for the Southern District of New York issuing a favorable ruling related to the company’s patent infringement lawsuit against Novartis AG ( NVS )/ Momenta Pharmaceuticals, Inc. ( MNTA ) and Mylan Inc. […]

Life Technologies Corporation ( LIFE ) will be presenting at the UBS 2011 Global Life Science Conference on Tuesday, September 20, 2011. The last reported quarter has been quite disappointing due to tighter budgets for academic and government-funded research in both the US and Europe, delays in the launch of the 5500 Genetic Analyzer in Japan due to the earthquake and temporary slack in business in China. We expect the company to share its plans of portfolio expansion and other initiatives for the long term […]

We are reiterating our Neutral recommendation on the shares of UnitedHealth Group Inc. ( UNH ) following the second quarter 2011 results. UnitedHealth Group reported second quarter 2011 operating earnings of $1.16 per share, beating the Zacks Consensus Estimate of 93 cents […]

Mid-America Apartment Communities Inc. ( MAA ), an apartment-only real estate investment trust (REIT), has recently completed the acquisition of Birchall at Ross Bridge – a 240-unit upscale apartment community in Alabama, for an undisclosed amount. The transaction was funded with the proceeds from its at-the-market stock issuance program and availability in the credit facility of the company. […]

This is Mark Vickery covering for Sheraz Mian, who is off today. ADP’s ( ADP ) numbers missed slightly this morning. The biggest private-sector check-cutter reported a gain of 91,000 jobs in August, down from an expected level of 100,000 jobs gained. […]

We are maintaining our Neutral recommendation on Washington Federal Inc. ( WFSL ) based on the company’s fiscal third quarter results that were slightly better than the Zacks Consensus Estimate, benefitting mainly from increased net interest income (NII) and an almost stable provision for loan losses. […]