Month: December 2012

Rig contractor Noble Corporation ( NE ) announced that it is working on fixing problems with the drillship Noble Discoverer, identified by the US Coast Guard in an inspection, as well as other potential issues the company found in an internal appraisal. The U.S. Coast Guard alleged that several components and systems aboard the company's drillship require attention […]

China Petroleum and Chemical Corporation ( SNP aka Sinopec) has inked an agreement with the U.S. energy company ConocoPhillips ( COP ) to conduct a joint unconventional oil and gas development study. […]

Chinese energy giant CNOOC Limited ’s ( CEO ) oilfield projects — the Panyu 4-2/5-1 oilfield adjustment project and the Panyu 4-2/5-1 oilfield project — have commenced production. The oilfields are located in the Pearl River Mouth Basin of South China Sea. Situated in an average water depth of about 100 meters, the Panyu 4-2/5-1 adjustment project was planned to help the existing facilities in expanding the oil field […]

We maintain our long-term Neutral recommendation on Lexmark International Inc. ( LXK ) based on the company’s weak third quarter 2012 results and deterring fourth quarter guidance. […]

Canadian National Railway Company ( CNI ) entered into a labor contract with the International Brotherhood of Electrical Workers (IBEW) System Council 11. Per the tentative agreement, the council will renew the contracts of about 700 signals and communications workers of the company in Canada. […]

Ford Motor Co. ( F ) anticipates nearly a 7% rise in its main brand sales to 2.20 million units this year from 2.06 million units in 2011. The company expects to achieve the sales growth with the help of its popular Ford Focus compact car sales […]

We recently reiterated a Neutral recommendation on Medivation, Inc. ( MDVN ). Medivation received a major boost in late August when the FDA approved its prostate cancer treatment, Xtandi, several months ahead of the target date […]

Hydro Marine Services, Inc. – a subsidiary of energy-focused engineering and construction firm McDermott International Inc. ( MDR ) has inked a contract with Keppel Singmarine Pte Ltd […]

Costco Wholesale Corporation ( COST ) continues to be a dominant retail wholesaler based on the breadth and quality of merchandises it offers. The company’s strategy to sell products at heavily discounted prices has helped it maintain positive growth amid the beleaguered economic conditions as budget-conscious customers continue to see it as a viable option for low-cost necessities. Having delivered comparable-store sales growth consistently, Costco is well positioned in the warehouse club industry […]

We have downgraded our recommendation on Hartford Financial Services Group Inc. ( HIG ) to ‘Underperform’ from ‘Neutral’ based on the expected losses in the fourth-quarter 2012 from Hurricane Sandy. The low home and auto renewal rates, high fluctuations in investment income and a challenging regulatory environment are the other negatives. […]

Last week, DZ Bank AG, a German lender, filed a lawsuit against Citigroup Inc. ( C ) and The Royal Bank of Scotland Group plc ( RBS ), for misrepresentation of documents while selling mortgage-backed securities (MBS). Moreover, RBS along with UBS AG ( UBS ), faced another lawsuit filed by German lender, HSH Nordbank AG over the same issue. […]

We have reiterated our Neutral recommendation on Franklin Resources Inc. ( BEN ) based on its impressive earnings performance and improved assets under management levels. […]

The McGraw-Hill Companies Inc . ( MHP ) is focusing on restructuring its portfolio of businesses and concentrating more on high growth operations, thereby enhancing shareholder value through proper capital allocation. […]

According to a Reuters news report, News Corporation 's ( NWSA ) Fox Sports Media Group acquired SportsTime Ohio, a Cleveland based regional sports network. The acquisition is expected to enhance its portfolio of regional sports channels and strengthen the company’s Fox Sports Media Group’s position in the lucrative sports entertainment business, where it competes with Walt Disney Company ’s ( DIS ) sports coverage network, ESPN. Moreover, with the buyout, News Corp […]