Month: September 2011

KB Home ( KBH ) reported a net loss of $9.6 million or 13 cents per share in the third quarter of fiscal 2011, compared with a net loss of $1.4 million or 2 cents per share in the year-ago quarter. However, excluding inventory impairments and land option contract abandonment charges of $1.2 million (non-cash), the adjusted net loss was $8.4 million or 11 cents per share, which was much lower than the Zacks Consensus Estimate of a loss of 17 cents per share. Total revenue fell 27% to $367.3 million, mainly due to a 27% decline in housing revenues to $364.5 million […]

CarMax Inc. ( KMX ) suffered a profit of $111.9 million or 49 million per share in the second quarter of its fiscal year ended August 31, 2011, which was flat compared with $107.9 million or 48 cents per share earned in the second quarter of prior fiscal year. With this, the used-car retailer missed the Zacks Consensus Estimate by 2 cents per share […]

Kona Grill Inc. ( KONA ) recently shut down one of its underperforming restaurants in Sugar Land, Texas. Since the recent past, the company has embarked upon a strategy to padlock its unprofitable locations […]

Netflix Inc. ’s ( NFLX ) users can now do a lot more than other Facebook members, as Netflix announced the integration of its video streaming services with the social networking site. […]

We currently maintain a long-term Outperform recommendation on Brown-Forman Corporation ( BF.B ) with a target price of $77.00 per share. Brown-Forman is one of the leading producers and distributors of premium alcoholic beverages in the world. […]

Chevron Phillips Chemical Company LLC –– a chemical firm owned by Chevron Corporation ( CVX ) and ConocoPhillips ( COP ) –– entered into an agreement with Neste Oil Corporation to acquire a manufacturing plant in Belgium. The financial terms of the deal were not disclosed. […]

Qualcomm Inc. ( QCOM ), the leading chipset maker for mobile handsets worldwide, is currently facing the risk of losing its venture in India. […]

Ferrellgas Partners L.P. ( FGP ) has added another propane retailer, Economy Propane Inc., consistent with its strategy of acquiring new assets that complement its portfolio. The acquisition of this Lakeport, California-based retailer marks the partnership’s first acquisition this fiscal year, which began on August 1, 2011, and the fourth in this calendar year […]

We initiate our coverage on Cerner Corporation ( CERN ), a leading vendor of Electronic Health Record (“EHR”) and other healthcare IT services (“HCIT”), with a Neutral rating. Cerner is not simply a play on the U.S. stimulus […]

Statoil ASA ( STO ) has encountered only a minor discovery at the Aldous Major North prospect in the production license (PL) 265 in the Norwegian North Sea, leaving the company disappointed. Well 16/2-9S –– the sixth in the license –– was drilled to evaluate the potential content of the Aldous Major North prospect by the semi-submersible rig Transocean Leader that hit a thin 26 feet (8 meter) oil column in formations dating back to the Upper Jurassic period. The well was drilled some 7 miles (12 kilometers) north of the Aldous Major South oil discovery […]