Month: November 2011

International medical technology major Covidien plc ( COV ) exited fiscal 2011 (ended Sep 30) on a strong note, buoyed by stren gth of its core Medical Devices business. The Ireland-based company posted fourth-quarter fiscal 2011 adjusted earnings per share (from continuing operation) of $1.08, topping the Zacks Consensus Estimate by three cents and exceeding the year-ago earnings of 84 cents. Adjusted earnings exclude one-time items such as restructuring and legal charges and tax-related adjustments […]

China Petroleum and Chemical Corporation ( SNP ), aka Sinopec , announced plans to acquire a 30% stake in the Brazilian unit of Portuguese oil company Galp Energia SGPS SA. The purchase price has been settled at $3.54 billion. However, considering the future capital expenditure, Sinopec’s total cash payout is estimated at around $5.18 billion. […]

SL Green Realty Corp. ( SLG ) recently announced that the company and its joint venture partner have entered into an agreement to sell One Court Square to a consortium of private investors for approximately $340 per square foot. The company expects to accumulate $42.8 million in net proceeds from the transaction. […]

Cosi Inc. ( COSI ) reported a loss of 3 cents per share in the third quarter of 2011, missing the Zacks Consensus Estimate of break-even. […]

Once again, Bank of America Corp. ( BAC ) has announced that it will reduce its stake in China Construction Bank (“CCB”). […]

Tellabs Inc. ( TLAB ) reported disappointing third quarter 2011 financial results, falling short of the Zacks Consensus Estimate. […]

W.W. Grainger Inc. ( GWW ) reported October sales growth of 16% year over year, the highest so far in 2011, continuing with its double-digit growth stint […]

TransDigm Group Incorporated ( TDG ) is slated to release its fourth-quarter 2011 results on Thursday, November 17, 2011. The current Zacks Consensus Estimate for fourth quarter earnings per share (EPS) is $1.16, representing an annualized growth of 15.78%. For fiscal 2011, the Zacks Consensus Estimate is $3.02, representing an annualized growth of 16.76%. […]

Netflix Inc. ( NFLX ) has entered into an exclusive multi-year licensing agreement with Lionsgate UK, a subsidiary of Lions Gate Entertainment Corp. […]

Internet security major Symantec Corporation ( SYMC ) recently offloaded 50.0% of its stake in the Hong Kong-based joint venture, Huawei Symantec. Symantec expects to generate transaction proceeds worth $530.0 million, which is below the market expectation. The joint venture dates back to 2007, when after several rounds of negotiations, Huawei and Symantec announced the establishment of the joint venture company Huawei Symantec on May 15th, 2007. […]