Month: September 2011

The Securities and Exchange Commission (SEC) proposed on Monday that financial institutions either underwriting or sponsoring asset-backed securities (ABS) be restricted from making profits out of the losses of investors for one year. The SEC proposal is in the interest of investors who were losing their hard earned money due to the ABS originators’ bets on bundled financial products. Earlier this year, U.S […]

Users of Procter & Gamble Co’s ( PG ) Duracell battery do not need their power chargers anymore for charging their batteries. Powermat Ltd. has partnered with the retail giant’s Duracell unit to make small charging mats and receivers, which would wirelessly power up cell phones and other small electronics. […]

Amgen ( AMGN ) recently received US Food and Drug Administration (FDA) approval for two new indications of Prolia (denosumab). In addition to approving Prolia as a treatment for increasing bone mass in women at high risk for fracture receiving adjuvant aromatase inhibitor therapy for breast cancer, the FDA approved Prolia as a treatment for increasing bone mass in men at high risk for fracture receiving androgen deprivation therapy for non-metastatic prostate cancer. The approvals were based on data from two phase III studies […]

Packaging food products maker Sealed Air Corporation ( SEE ) issued $1.5 billion notes with an intention to utilize the proceeds to fund a portion of the $4.3 billion acquisition of Diversey Holdings announced in June 2011. The $1.5 billion notes issue is made in two tranches of $750 million each. The first series is supposed to yield 8.125% when held to maturity, September 15, 2019, while the second series is estimated to yield 8.375% when held to maturity, September 15, 2021 […]

Juniper Networks Inc. ( JNPR ) announced that online video game provider, OnLive has selected its network infrastructure for an undisclosed amount. […]

Boston Scientific Corporation ( BSX ) strengthened its Peripheral Interventions portfolio with the launch of Coyote Balloon catheter (0.014 inch) to treat patients undergoing peripheral angioplasty procedures below the knee. The company is marketing the product in the US, Europe and other international markets. Prior to this, in June, the company had launched Mustang percutaneous transluminal angioplasty (PTA) balloon catheter (0.035 inch) globally […]

After the bell Tuesday, Oracle Corporation ( ORCL ) reported earnings for its fiscal 1st quarter of 2012, and as per usual the giant tech firm beat estimates, albeit on somewhat modest expectations. Reported EPS of 45 cents per share (Zacks is not taking the entire amortization charge in the company’s headline 48 cents per share number) beat the Zacks Consensus Estimate of 44 cents, and revenues of $8.4 billion topped Zacks expectations of $8.3 billion. New software revenue posted toward the high end of its guidance range, +17%, although hardware performed toward the low end of guidance, -5% […]

Tyson Foods Inc. ( TSN ), the world’s leading producer, distributor, and marketer of chicken, beef, pork, and prepared food products, has decided to give up $32 million in order to settle a wage dispute with workers who claimed that they were being paid less than they actually worked for. The workers of meatpacking and food processing units claimed that they were deprived of thousands of dollars in lost pay for time they spent donning and doffing safety gear. […]

We are currently downgrading our long-term recommendation on Citi Trends Inc. ( CTRN ) to Underperform from Neutral based on the company's disappointing second-quarter 2011 results. Citi Trends' falling comparable store sales, coupled with rising input costs and operating expenses, battered the second-quarter 2011 results […]