Month: September 2011

South Africa-based petrochemicals group Sasol Ltd. ( SSL ) announced plans to set up a gas-to-liquids (GTL) plant in the southwestern region of the State of Louisiana. This will be the first facility in the U.S. […]

Lockheed Martin Corp. ( LMT ) said it has received a $28.6 million contract to upgrade tank systems for the U.S. […]

Alliant Techsystems Inc. ( ATK ) has received a contract worth $30 million from the U.S. Army to supply non-standard (non-NATO) ammunition ("NSA") to the security forces of Afghanistan […]

Pepsico Inc. ( PEP ), the world leading retailer of soft drinks and snacks has decided to offer help to the nation's premier center of Mexican-American culture, LA Plaza de Cultura y Artes in Los Angeles. The company wants to boost their praiseworthy work of educating people about the history and contributions of Mexican Americans to the nation. […]

We reiterated our Underperform recommendation on Amerisafe Inc. ( AMSF ) based on its persistent weak performance that questions its current sustainability factor. The company’s second-quarter operating earnings per share of 23 cents substantially lagged the Zacks Consensus Estimate of 38 cents and 53 cents reported in the prior-year quarter […]

We have downgraded our recommendation on E*Trade Financial Corporation ( ETFC ) to Neutral from Outperform due to volatile trading business and the turbulence in the global markets. In July, E*TRADE reported second-quarter 2011 earnings of 16 cents per share, in line with the Zacks Consensus Estimate as well as the prior quarter. However, the company’s net income compared favorably with 12 cents per share earned in the prior-year quarter owing to higher net operating interest income and decrease in provision for loan losses, partially offset by increase in operating expenses and lower non-interest income. […]

Global integrated energy company, Chevron Corporation ( CVX ) has signed an initial agreement with the mid- and down-stream unit of Trafigura Beheer BV – Puma Energy – for the sale of its fuel marketing business in Namibia. The financial terms were not disclosed. […]

Boston Scientific ( BSX ) has named Michael Mahoney as the President of the company effective October 17, 2011. Mahoney, the Worldwide Chairman of the Medical Devices and Diagnostics Group of Johnson & Johnson ( JNJ ) is expected to occupy the post of CEO of Boston Scientific from November 1, 2012. Earlier, in May 2011, Ray Elliott had announced his intention to step down as the President and CEO and confirms he will do so on October 17, 2011. […]

We reiterated our Neutral recommendation on Hilltop Holdings Inc. ( HTH ) based on the critical sustainability factor. The company’s second quarter loss increased to $13.2 million or 23 cents per share from a loss of $5.2 million or 9 cents per share in the year-ago period […]

We currently maintain our long-term Neutral rating on ManpowerGroup ( MAN ), the global leader in the employment services industry. Moreover, the company also holds a Zacks #3 Rank, which translates into a short-term Hold rating and correlates with our long-term outlook. Manpower’s comprehensive range of services makes it a truly global s taffing firm. […]