Month: May 2013

A major contract driller Diamond Offshore Drilling Inc. ( DO ) has engaged Korea-based Hyundai Heavy Industries Co. […]

PepsiCo Inc. ( PEP ) recently reaffirmed its long-term targets and discussed its growth strategies at the Sanford Bernstein Strategic Decisions Conference. Long-term Outlook The company expects mid-single digit growth in revenues on the back of its strong product portfolio and solid business in developing and emerging markets. […]

Royal Caribbean Cruises Ltd. ’s ( RCL ) ship ‘Grandeur of the Seas’ met with an accident recently, following the footsteps of another cruise operator, Carnival Corp. ( CCL ) […]

Joy Global Inc. ( JOY ) reported adjusted earnings of $1.73 per share in the second quarter of fiscal 2013, compared with $2.23 per share in the year-ago quarter. Earnings were however 11.6% higher than the Zacks Consensus Estimate of $1.55 […]

Costco Wholesale Corporation ( COST ) came out with third-quarter fiscal 2013 results today. The quarterly earnings of $1.04 per share beat the Zacks Consensus Estimate by a couple of cents, and surged 18.2% from 88 cents earned in the prior-year period. […]

Reportedly, a group working for gender equality, Women, Action and the Media, has started a campaign last week demanding Facebook ( FB ) to remove content that has hate speech and violence against women on its website. The group urged advertisers to pull their ads in support of the cause. […]

In order to gain traction in the hardware market, Google Inc.’s ( GOOG ) Motorola Mobility handset unit plans to unveil a new smartphone, Moto X, by October. The details of the smartphone are not yet known but the new phone will be built at a manufacturing site near Texas that will employ approximately 2,000 people. Google had bought Motorola for $12.5 billion in 2012 and stated that Motorola would continue to run as a separate unit, with its phones based on the Android OS. […]

On May 29, 2013, we upgraded StanCorp Financial Group Inc . ( SFG ) to Outperform from Neutral based on its strong first-quarter results and efforts to reduce operating costs. This life insurer currently carries a Zacks Rank #1 (Strong Buy) […]

We maintain our Neutral recommendation on BorgWarner Inc. ( BWA ) based on its improved first quarter 2013 performance. However, we are concerned about the pricing pressure from OEMs and strong competition […]

The Canadian Loyalty business of Alliance Data Systems Corporation ( ADS ) inked a multi-year agreement with Irving Oil, whereby the latter will issue AIR MILES reward miles. Saint John, New Brunswick-based Irving Oil operates Canada's largest refinery, 8 distribution terminals, a fleet of delivery trucks and over 900 retail locations across Eastern Canada and the United States. It provides services to wholesale, home heating, commercial as well as retail customers […]

In order to reduce the debt level and boost liquidity position, Alexandria Real Estate Equities, Inc. ( ARE ) priced a public offering of $500 million worth of 3.900% Senior Notes at 99.712% of the principal amount. The transaction will likely be completed by Jun 7, subject to customary closing conditions. […]

Northrop Grumman Corporation ( NOC ) has been awarded an indefinite-delivery/indefinite-quantity task order by the U.S. General Services Administration for a combat simulator. […]

Recently, American Realty Capital Properties Inc. ( ARCP ) inked an agreement to acquire CapLease Inc. […]

Setting an improved standard for high-quality reliable data transfer, Anadigics, Inc. ( ANAD ) recently introduced a new product family of 802.11ac power amplifiers that optimizes performance for diverse WiFi infrastructure and multimedia applications such as access points, routers, media gateways, set-top boxes, and smart TVs. With continuous launch of such new products, Anadigics expects to offset the decline in its legacy business and thereby stem the tide of losses experienced over the past few quarters. […]

Plains All American Pipeline, L.P. ( PAA ) has provided its second-quarter 2013 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) guidance. […]

Ford Motor Co. ( F ) has decided to shut down its manufacturing operations in Australia in Oct 2016 due to ebbing sales and continued appreciation of the domestic currency. The automaker will close two plants in Victoria – an engine plant in Geelong and a vehicle assembly plant in Broadmeadows […]

Major independent oil and gas exploration and production company, EOG Resources Inc. ’s ( EOG ) focus on the Texas Eagle Ford shale formation is now paying off. Per the preliminary data released by the Texas Railroad Commission, daily output in Mar 2013 from the nine geographic fields that make up the majority of Eagle Ford yielded 529,874 barrels of crude. […]