Month: November 2011

Stan dard Motor Products Inc. ( SMP ) recently announced that it has acquired the full capital stock of Florida-based Forecast Trading Corporation for an approximate price of $44 million. Forecast is a well-known supplier and distributor of value-priced engine management products including ignition coils, ignition modules, switches and sensors, and filters […]

BP Plc ( BP ) announced that it has found traces of gas at its Itaipu-2 pre-salt appraisal well in Brazil’s deepwater Campos basin. The company has reported to the Brazilian National Petroleum Agency about the potential discovery. The Itaipu-2 well, located in block BM-C-32 about 130 kilometers off Brazil, was drilled to a total depth of 4877 meters in 1420 meters of water […]

Beleaguered tech giant Cisco Systems ( CSCO ) continues its turnaround story after the bell Wednesday, posting its fifth consecutive positive earnings surprise in its first quarter 2012 (October) quarter. Cisco reported an adjusted (for amortization, impairment and restructuring) EPS of 38 cents, which topped the Zacks Consensus Estimate of 34 cents per share. The company also provided a revenue beat for the quarter: $11.3 billion in sales (GAAP), up from the $11 billion expected in the Zacks Consensus Estimate. […]

Plains All American Pipeline, L.P. ( PAA ) announced that it has commenced the process of an underwritten public offering of 7.5 million of its common units representing limited partner interests. […]

In a move to enhance long-term financing flexibility, Cabela’s Inc . ( CAB ), one of the leading specialty retailers of hunting, fishing, camping and related outdoor merchandise, recently entered into a new credit agreement with a group of financial institutions led by U.S. Bank. […]

Global data center solution and service provider Equinix Inc. ( EQIX ) recently announced that it has been selected by Rackspace Cloud to provide data center solutions. Equinix would be mainly responsible for customer-building and deploying private and hybrid clouds […]

Technology outsourcing and consulting major Accenture plc ( ACN ) recently completed the acquisition of Zenta, a provider of residential and commercial mortgage processing services. Financial terms of the buyout, which was announced back in August, remained undisclosed. Founded in 2000, Zenta is a top-notch knowledge and business processes outsourcing company, offering a full range of residential mortgage fulfillment and loan servicing support, commercial real estate, capital market analytics, commercial loan underwriting and servicing support, finance and accounting, asset management, collections and contact center services. […]

Prudential Financial Inc. ( PRU ) has announced a 26% hike in its annual dividend to $1.45 per share from $1.15. […]

Acorda Therapeutics Inc. ( ACOR ) reported adjusted earnings of 40 cents per share for the third quarter of fiscal 2011, down from 43 cents in the year-ago period. […]

Canada’s biggest energy firm and the largest oil sands outfit Suncor Energy Inc. ( SU ) unveiled its 2012 guidance. In particular, the company outlined plans to increase oil sands production 12% by next year, while boosting capital expenditures by about C$800 million. […]

URS Corp. ( URS ) reported third-quarter fiscal 2011 loss per share of $8.05 compared with earnings per share of 87 cents in third-quarter 2010. The Zacks Digest Consensus Estimate for earnings per share were 99 cents. […]

The Travelers Companies Inc. ( TRV ) continues to benefit from its strong market position and economies of scale. […]