Month: November 2011

Macy’s Inc. ( M ) continues with its positive rhythm as it approaches the end of another successful fiscal year. This is quite evident from its upbeat guidance for fiscal 2011 and the relentless endeavors undertaken to keep itself on the growth trajectory even when the economy is looking for ways to shield itself from the ongoing crisis. […]

Recently, we reiterated our Neutral recommendation on Medco Health ( MHS ) with a target price of $56.00. During the third quarter of fiscal 2011, Medco reported adjusted EPS of $1.07, beating the Zacks Consensus Estimate by 2 cents and 12.6% higher than the year-ago quarter level. Revenues increased 4.1% year over year to $17.0 billion in the quarter, in line with the Zacks Consensus Estimate. […]

We maintain an Underperform rating on Hospira, Inc. ( HSP ) with a target of $29.00 following appraisal of third quarter results. […]

BorgWarner Inc. ( BWA ) announced that it expects net new powertrain business of $2.5 billion from 2012 through 2014, reflecting a 9% increase from its previous three-year net new business. The new business is expected to generate from strong demand for the company’s environment-friendly technologies, including gasoline and diesel turbochargers, dual-clutch transmission, engine timing systems and emissions products. […]

The Smithfield Packing Company, Inc., a subsidiary of The Smithfield Foods, Inc. ( SFD ), plans to expand and thus include a new packaged meats product line in Kinston, NC and shift its hot dogs and lunch meat plant to Kinston from Portsmouth, VA. Currently, the existing Kinston facility is operated by Smithfield Packing. […]

We have downgraded our recommendation for El Paso Corp. ( EP ) to Neutral from Outperform, following its third quarter results, which were affected by weaker-than-expected production and higher-than-expected unit costs at the Exploration & Production (E&P) segment. […]

Recently, Conceptus ( CPTS ) received an Approvable Letter from the US Food and Drug Administration (FDA). The letter suggests compatibility between the company’s surgical permanent birth control system, Essure and Hologic ’s ( HOLX ) Novasure, which treats women suffering from excessive menstrual bleeding. In the approval letter, FDA stated that the safety of Essure procedure will remain intact while performing Novasure RF endometrial ablation. […]

The world’s leading coffee retailer Starbucks Corporation ( SBUX ) has decided to give the Americans its signature value-added experience while they sip their fruit juice and has thus taken over Evolution Fresh, a Californian juice maker. Starbucks looks set to strengthen its grip in Health and Wellness sector and will open a new line of outlets focused on nutritious products. Also, the company said that it wants to build a multibillion health and wellness business over time […]

Morgan Stanley ( MS ) became the second largest bank after The Goldman Sachs Group Inc. ( GS ) to adopt new foreclosure procedures in an effort to stop unlawful and troublesome foreclosure practices. Morgan Stanley has reached an agreement with the New York’s Department of Financial Services about the new set of standards […]

Health Care REIT ( HCN ) reported third quarter 2011 FFO (funds from operations) of 85 cents per share compared with 31 cents per share in the year-earlier quarter. Funds from operations, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. We cover below the results of the recent earnings announcement, as well as the subsequent analysts’ estimate revisions and the Zacks ratings for the short and long-term outlook on the stock. […]

Not all the important news is centered on Greece and Italy. The International Energy Agency, or IEA, this week released its World Energy Outlook. […]