Month: September 2011

We remain Neutral on MGM Resorts International ( MGM ) over the long term. Better-than-expected second quarter 2011 earnings, improving business trends in Las Vegas, the acquisition of a controlling interest in MGM China and the booming Macau operation are partially offset by steep competition, still faltering consumer confidence and the risk of cannibalization by its new property, CityCenter, in Las Vegas. MGM Resorts’ second-quarter 2011 adjusted loss per share was better than the Zacks Consensus Estimate aided by the expansion of the company’s controlling stake from 50% to 51% in MGM China Holdings Limited at the time of going public on the Hong Kong stock exchange in June […]

As part of its long term strategy of accelerating its International operations, health insurer CIGNA Corp. ( CI ) has announced the acquisition of UK based FirstAssist Insurance Services. The financial terms of the deal were not disclosed […]

KB Home ( KBH ) recently announced its plans to boost its energy-efficient homes portfolio by introducing a new line of net-zero energy homes, namely ZeroHouse 2.0. The new initiative taken by KB home seeks to cut down the monthly energy bill s of homeowners, thereby reducing the overall cost of homeownership. The program will also benefit the environment as these designs will run on solar power and other building techniques and boasts features that are far better than the company’s ENERGY STAR qualified standard […]

After bearing a high catastrophe loss in the second quarter 2011, property and casualty insurer Chubb Corp. ( CB ) is again set to incur further pre-tax cat losses of $400 million to $475 million in the upcoming quarter due to Hurricane Irene, which battered the East Coast in August 2011. […]

Atmel Corporation ( ATML ) recently signed a definitive agreement to acquire privately-held Advanced Digital Design, S.A. (ADD Semiconductor). Based in Zaragoza, Spain, Atmel develops power line communication solutions […]

The world’s leading manufacturer of consumer packaged foods , Procter & Gamble Company ( PG ) has announced that it will cut cost by way of reducing its workforce. To achieve this end the retail giant has decided to slice off 10 to 15% of the senior managerial level. The company has also revealed that there is possibility of further retrenchment in the near future. […]

Workers at General Motors Co. ( GM ) have ratified the 4-year United Auto Workers (UAW) deal as majority of the workers voted for the same. […]

In order to continue its focus on growing market share in a challenging economy, Kohl's Corporation ( KSS ) has opened 30 new stores in 20 states, adding approximately 4,000 new jobs. With this, Kohl’s now operates 1,127 stores in 49 states. In addition to adding new stores, Kohl’s has also invested in its current store base by adding innovative features […]

Amazon.com Inc. ( AMZN ) stepped into the intensely competitive tablet market with the launch of its first media tablet: “Kindle Fire”. […]

We have maintained our long-term 'Neutral' recommendation on Hot Topic Inc. ( HOTT ) with a target price of $8.00 per share. Moreover, the company has a Zacks #2 Rank, implying a short-term 'Buy' rating on the stock. […]