Month: November 2011

We downgraded our recommendation on Humana Inc. ( HUM ) to Neutral based on higher expenses and lower operating cash flow in the third quarter, which were offset by strong top-line growth. The company’s third-quarter operating earnings came in at $664.8 million or $2.54 per share, surpassing the Zacks Consensus Estimate of $2.02 per share […]

America’s largest banks will have to endure another round of stress tests in the upcoming weeks to prove their financial strength to confront another recession, Federal Reserve Vice Chair Janet Yellen said on Friday at a banking conference. This will mark the fourth round of bank stress tests since 2009. The prior tests were conducted in early 2011, late 2010 and 2009 […]

VeriFone Systems, Inc. ( PAY ) has signed a definitive agreement with Nordic Capital Fund V to acquire European-based Point for approximately €600 million or $824 million. VeriFone will also retire Point’s debt of approximately €170 million […]

After witnessing a horrific slump over the last five months, the video game industry was supplemented by marginal sales growth in October 2011. According to a recent report from market research firm The NPD Group, U.S. […]

We have reiterated our Neutral recommendation on Genomic Health ( GHDX ) with a target price of $28.00. Genomic Health reported an EPS of 10 cents in the most recent quarter, way above the Zacks Consensus Estimate of 4 cents, but lower than $0.12 in the year-ago period. Total revenue in the quarter climbed 12.5% year over year to $52.1 million, marginally missing the Zacks Consensus Estimate of $53 million […]

SunPower Corporation ( SPWRA ) has entered into an agreement with the US Navy under which the former will sell the electricity generated from the 13.78-megawatt (“DC”) solar photovoltaic (“PV”) power system to the latter. SunPower has begun the designing process at Naval Air Weapons Station China Lake in California and plans to formally announce the commencement of construction in December this year. An affiliate of Metropolitan Life, subsidiary of MetLife, Inc. […]

Industrial manufacturer Eaton Corporation ( ETN ) received a $20 million contract from the U.S. Coast Guard to maintain electrical infrastructure on 12 Coast Guard cutters. These cutters are stationed in Coast Guard bases in San Diego, Seattle, San Francisco and Hawaii […]

General Dynamics Corporation ( GD ) reported mixed third quarter 2011 financial results with EPS exceeding the Zacks Consensus Estimate, but revenue missed the target. Third Quarter Highlights General Dynamics Corporation reported third-quarter 2011 operating earnings of $1.83 per share, which surpassed the Zacks Consensus Estimate of $1.77. […]

Third quarter earnings season is almost over. Total net income growth has been far higher than expected, although the median surprise and the ratio of positive surprises to disappointments is slightly below normal. Thus, I would characterize the season as good, but not great […]

CBRE Group Inc. ( CBG ), the world’s largest commercial real estate services company (on the basis of 2010 revenues), has recently closed its previously announced new incremental senior secured sterling term loan A-1 facility to the tune of approximately $300 million. […]