Month: March 2012

Semiconductor major Micron Technology ( MU ) has recently confirmed that it has settled a lawsuit with software giant Oracle Corporation ( ORCL ). As per the lawsuit, Oracle accused Micron of artificially increasing the DRAM prices and violating the state’s antitrust and unfair competition laws based on the conduct of the company, extending from August 1, 1998, til June 15, 2002. The IT major claimed several damages and has also agreed upon the restitution of attorneys' fees, costs and injunctive relief […]

Sempra Energy ( SRE ) has re affirmed its earnings guidance for FY12 and provided its outlook for FY13 and FY16, prior to its analyst meeting in San Diego. The company expects earnings per share to be in the range of $4.00 to $4.30 in fiscal 2012 and in the range of $4.10 to $4.40 in FY13. […]

Reportedly, Netflix Inc. ( NFLX ) has decided against adding sci-fi series “ Terra Nova ” to its streaming portfolio as negotiations with the show’s producer 20 th Century Fox fell apart. Initially, Fox had spent approximately $10 million-$20 million on the first series’ two-hour premiere, which got delayed twice before it was finally aired. […]

With a view to improving its product lines, PACCAR Inc. ( PCAR ) has launched high technology aerodynamic trucks at the Mid-America Trucking Show in Louisville, Kentucky. It took nearly 4 years and $400 million to launch these trucks under the Kenworth T680 and Peterbilt 579 brand names. […]

The leading grocery chain and heavyweight pharmacy retailer Supervalu Inc. ( SVU ) is now an addition to the list of many pharmacy companies for whom the takeover of Medco Health Solutions ( MHS ) by Express Scripts Inc. ( ESRX ) did not go down well. […]

Compuware Corporation ( CPWR ) recently announced a strategic partnership with Rosetta, which is an independent brand within the Publicis Groupe of global agencies and a member of the Compuware Partner Network. The partnership is designed to enable customers to ensure that their e-commerce sites are production-ready and perform well in production. Rosetta will now incorporate Compuware Application Performance Management (APM) solutions into its product offering will complement Rosetta’s existing technology in e-commerce, mobile platforms and systems integration […]

Forest Laboratories, Inc. ( FRX ) will be facing a delay where the approvability status of one of its pipeline candidates is concerned. The company recently announced that the US Food and Drug Administration (FDA) has extended its action date for aclidinium bromide by three months. […]

Zynga Inc. ( ZNGA ) is setting up a new home for Martha Stewart in its popular Facebook game Castleville . […]

Chinese energy giant PetroChina Co. Ltd. ( PTR ) announced 2011 earnings of RMB 133.0 billion or RMB 0.73 per diluted share, compared with RMB 140.0 billion or RMB 0.76 per diluted share a year earlier. […]

We are downgrading our long-term recommendation on CF Industries Holdings Inc. ( CF ) to Neutral from Outperform based on the cautious outlook of the company about the demand levels for phosphate in the first half of 2012, rising raw material costs and unfavorable weather conditions affecting the yield of the products. CF is exposed to cyclical and seasonal changes. […]

We are reiterating our Neutral recommendation on the shares of the life and health insurer, Torchmark Corp. ( TMK ). Though we are optimistic about the company’s life insurance business, its underperforming health insurance business keeps us on the sidelines […]

Xcel Energy Inc. ( XEL ) got a nod from The Minnesota Public Utilities Commission to hike its electricity prices by 2.7%, according to media reports. […]

We are upgrading our recommendation on Plexus Corp. ( PLXS ) from Underperform to Neutral. In the recently concluded first quarter, Plexus reported mixed results, where the company’s bottom line beat the Zacks Consensus Estimate by 3 cents though the top line lagged the revenue estimate of $532.0 million […]

Otis Elevator Company Saudi Arabia Ltd., part of Otis Elevator Company, (a unit of United Technologies Corp – UTX ), announced that it has won six contracts to supply and install 263 elevators, which include 10 double-deck elevators and 90 escalators to different buildings in the King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia. Otis is expected to install 25 elevators and eight escalators in the KAFD World Trade Centre and 30 elevators and four escalators in the GCC Bank Headquarters. Otis double-deck elevators at both the KAFD World Trade Centre and GCC Bank Headquarters will help save space, thereby freeing up space for renting. […]

We are reaffirming our Neutral recommendation on 3M Company ( MMM ). The company achieved top-line and bottom-line growth during the quarter, outperforming the Zacks Consensus Estimate by $0.04. […]

Fortunes of home improvement companies are correlated to the health of the economy. Thus, there remains no surprise that the companies operating in this sector are striving to add diverse revenue streams to hedge against economic cycles. […]

In a move to enhance liquidity and improve operating performance, Sears Holdings Corporation ( SHLD ), a cash strapped company, is likely to sell its Lands’ End brand, The Wall Street Journal reported. The Journal stated that Sears Holdings, who is already in talks with various private-equity firms, is looking to raise about $2 billion in cash from this sale. Goldman Sachs is likely to assist the company on the sale […]

We are reiterating our Neutral recommendation on People's United Financial Inc. ( PBCT ). […]