Month: December 2012

PDL BioPharma Inc. ( PDLI ) recently announced that it expects to generate fourth quarter 2012 royalty revenues of $86 million, up 17.8% year over year. PDL BioPharma receives royalties on worldwide net sales of Roche Holdings Ltd […]

General Dynamics Corporation 's ( GD ), subsidiary General Dynamics Bath Iron Works, has received a modification contract from U.S Navy worth $70.5 million to provide ongoing planning yard services to the DDG 51 Arleigh Burke-class guided missile destroyer and the FFG 7 Oliver Hazard Perry-class frigate programs. The contract is an extension of the initial contract received in June 2012. In June 2012, the company had received contract for these two ships worth $66.1 million […]

Social game developer Zynga Inc. ( ZNGA ) is gearing up to enter the U.S. gambling market. […]

Gannett Co., Inc. ( GCI ) is repositioning itself to diversify its business model by adding new revenue streams in an effort to make it less susceptible to economic conditions. The company is also adapting to the changing face of the multiplatform media universe, currently including Internet, mobile, tablet, social media networks and outdoor video advertising in its portfolio, which augurs well for its growth prospects. […]

Investors were left disappointed when Align Technologies ( ALGN ), a major player in the malocclusion market, announced that it will be able to touch just the low ends of its earlier announced top and bottom line guidance for the fourth quarter 2012. On top of this, the news of some expected job cuts caused further concern among stakeholders, leading to a downward rally of the stock price since the announcement. […]

Pep Boys — Manny, Moe & Jack ( PBY ) reported a significant increase in profits to $13.2 million or 25 cents per share (excluding debt refinancing expense of $11.2 million and an asset impairment charge of $8.8 million) in the third quarter of the year ended October 27, 2012 from $7.0 million or 13 cents per share in the comparable quarter of prior year. With this, profits in the quarter surpassed the Zacks Consensus Estimate by 8 cents. […]

Delta Air Lines ( DAL ) entered into a purchase agreement with Canadian firm Bombardier Aerospace, whereby the former will buy 40 new CRJ900 two-class regional jets from the latter. Delta could buy up to 30 more CRJ900 aircraft, if it chooses to exercise the order to full. The purchase value of 70 jets is estimated to touch $3.29 billion. […]

Harris Corporation ( HRS ) has reached a deal to sell its Broadcast Communications business to an investment firm The Gores Group, LLC for $225 million. Offloading the broadcast arm is part of the company’s strategy to concentrate on its core business. […]

The U.S. Energy Department's weekly inventory release showed that crude stockpiles logged another decline, as refiners scaled up their utilization rates. The report further revealed that refined product inventories – gasoline and distillate – increased from their previous week levels, as demand weakened […]

Vornado Realty Trust ( VNO ), a leading real estate investment trust (REIT), has recently completed the acquisition of 666 Fifth Avenue at 53rd Street – one of the prized retail assets in Manhattan, for $707 million. With the deal, the company has increased its street retail portfolio in the region to 2.3 million square feet. The acquired property is strategically placed at the heart of Midtown Manhattan in one of the most recognized corridors in the world […]

Cubist Pharmaceuticals Inc. ( CBST ) received some encouraging news recently when the US Food and Drug Administration (FDA) accepted two of the company’s antibiotic candidates, CXA-201 and CB-315, as qualified infectious disease products (QIDP) under the Generating Antibiotic Incentives Now (GAIN) Act. […]

Aerospace and defense company, Lockheed Martin Corporation ( LMT ) has won a contract from the U.S. Navy for the systems integration of nine MH-60R SEAHAWK helicopters. […]

In an effort to expand its footprints in the U.S., The Toronto-Dominion Bank ( TD ) – also known as TD Bank – signed a definitive agreement to acquire Epoch Investment Partners, Inc. ( EPHC ), a fully owned subsidiary of Epoch Holding Corporation. The transaction is anticipated to close in the first half of 2013. […]

Orthopedic devices major Stryker Corporation ( SYK ) has raised its quarterly cash dividend to 26.5 cents from 21.25 cents, representing a 25% growth. This increases the annual dividend to $1.06 cents per share from the current payout of 85 cents, which equates to a dividend yield of roughly 2%. […]

Kimco Realty Corp . ( KIM ), a real estate investment trust (REIT), recently acquired City Heights Retail Village in San Diego. The purchase price for this transaction was $35.6 million, including the assumption of $20 million of mortgage debt […]