Month: August 2011

We recently downgraded our recommendation on Onyx Pharmaceuticals, Inc. ( ONXX ) to Underperform from Neutral. […]

We reiterate our Neutral recommendation on NET Servicos de Comunicacao S.A. ( NETC ), which implies the stock will perform in line with the broader market. The company reported strong financial results for the second quarter of 2011 surpassing the Zacks Consensus Estimates. […]

A leading player in the diagnostic testing space, Laboratory Corporation of America Holdings ( LH ) intends to purchase all or a portion of its Zero Coupon Convertible Subordinated Notes due 2021. The purchase price for the notes is $819.54 per $1,000 principal amount at maturity. On the liquidity front, LabCorp is quite well capitalized […]

Heath care services provider MedCath Corporation ’s ( MDTH ) third-quarter fiscal 2011 adjusted (excluding one-time items other than stock-based compensation expenses) loss per share from continued operation of 4 cents missed the Zacks Consensus Est imate of earning s of 9 cents per share. However, the North Carolina-based company turned to profit (on a reported basis) in the quarter riding on gains associated with asset sales. MedCath posted a net income of $12.3 million (or 61 cents a share) in the third quarter compared with a loss of $12.8 million (or 64 cents a share) a year-ago […]

Currently, the U.S. has a very high level of corporate tax rates. However, the tax code is so riddled with loopholes, preferences and exclusions, that most companies actually pay very low effective tax rates. […]

The Bank of New York Mellon Corporation ( BK ) has been accused by the states of Virginia and Florida of failing to provide them with the best possible prices while making foreign currency trades for their respective state pension funds. The two states are acting on 2009 whistleblower lawsuits filed by FX Analytics against the company. The two states have filed a lawsuit against BNY Mellon for overcharging the pension funds – Florida Retirement System Trust Fund and Virginia Retirement System – on foreign currency transactions. […]

DTS Inc. ( DTSI ) will be partnering with Changhong, a Chinese television manufacturer, to provide the latter with high-performance audio technology for plasma and high-definition LCD televisions. This would enable consumers to enjoy an enhanced audio experience with refined sound quality in the Changhong television sets […]

Canadian Solar Inc. ( CSIQ ) will supply 8 MW of solar modules to EOSOL Energies Nouvelles' new ground-mounted solar power plant. EOSOL Energies Nouvelles is a major player in the development, investment and production of energy from natural resources and has specialization in solar, wind energy, biomass and solar thermal energy […]

Surgical devices maker Cardica ’s ( CRDC ) fourth-quarter fiscal 2011 (ended June 30) net loss per share of 11 cents was lower than both the Zacks Consensus Estimate of a loss and the year-ago quarter’s loss of 13 cen ts. Net loss for the quarter trimmed 7.4% year over year to $2.8 million due to the combined effect of higher sales and lower costs. […]

We upgrade our recommendation to Outperform from Neutral on PulteGroup, Inc. ( PHM ), the largest builder of active communities in the U.S. Based in Bloomfield Hills, Michigan, Pulte is engaged in the homebuilding and financial services businesses primarily in the U.S. […]