Month: May 2013

Shares of State Street Corporation ( STT ) crafted a new 52-week high, touching $67.40 in the first half of the trading session on May 28. The closing price of this global banking major reflected a solid year-to-date return of 39.6%. The trading volume for the session was 5.0 million shares, significantly higher than the average 3.1 million shares over the last 3 months. […]

As part of its efforts to acquire premium assets, Health Care REIT Inc. ( HCN ) has partnered with Revera Inc. to own 47 high-quality seniors housing and care communities with around 5,000 units that are positioned in key metropolitan markets in Canada […]

We have maintained our long-term Neutral recommendation on the world’s leading food processing company, Archer Daniels Midland Company ( ADM ) with a target price of $36.00, following its weaker-than-expected first-quarter 2013 results, offset by positivity surrounding the recent bid to acquire GrainCorp. Moreover, shares of Archer Daniels carry a Zacks Rank #3 (Hold). Why the Reiteration? […]

Leading Belgian international food retailer, Etablissements Delhaize Fr ( DEG ), better known as Delhaize Group, recently entered into a definitive agreement to divest all of its U.S.-based Sweetbay, Harveys and Reid’s supermarket stores to another national supermarket chain, Bi-Lo Holdings, for $265 million in cash. As per the agreement, the U.S.-based Bi-Lo Holdings will buy Delhaize Group’s 72 Sweetbay stores, 72 Harveys stores and 11 Reid’s stores along with the leases for 10 prior Sweetbay locations. In total, the national grocery chain will take control of over 165 stores (which generated around $1.8 billion in revenues in 2012) and approximately 10,000 employees from Delhaize Group […]

United Technologies Corp. ( UTX ) recently received a contract worth $1 billion from the U.S. Department of Defense to manufacture engines for Lockheed Martin Corporation’s ( LMT ) F-35 fighter jets. […]

TECO Energy Inc. ( TE ) has inked a deal to acquire New Mexico Gas Company (NMGC) from Continental Energy Systems LLC and its affiliate New Mexico Gas Intermediate Inc., enabling it to establish its presence in one of the fastest growing regions of the U.S. while strengthening its market penetration. […]

Broadcom Corporation’s ( BRCM ) Global Navigation Satellite System (GNSS) location chip, BCM47521 recently got one of the top recognitions in the industry when it won the COMPUTEX 2013 Best Choice Award from the Taipei Computer Association in Taipei, Taiwan. BCM47521 chip features geofence capabilities, which facilitate it to receive a notification whenever a user crosses a virtual perimeter. A geofence is a virtual perimeter or boundary for a real geographic area. […]

Improving economic conditions in the U.S. proved to be a redeeming factor for the U.S. […]

Ericsson ( ERIC ) has inked a three-year contract with Poland based T-Mobile for application development and maintenance of the latter’s billing system. The financial details of the contract were not disclosed. Following the announcement of the contract with T-Mobile, Ericsson’s share rose 2.2% to close at $11.90 on May 28, 2013 […]

On May 28, we upgraded leading cardiac assist devices maker – Abiomed ( ABMD ) to Outperform based on its record fourth-quarter fiscal 2013 results. Why the Upgrade? Abiomed’s fourth-quarter fiscal 2013 earnings per share (EPS) of 9 cents beat the Zacks Consensus Estimate by 28.6%. […]

Industrial gas giant Air Products ( APD ) declared that its South American joint venture INDURA intends to construct a new plant in Antofagasta, Chile, and expand production capacity at its Graneros plant located south of Santiago. INDURA will be investing over $15 million for these initiatives. Investments in these new endeavors attempt to meet the increasing demand for industrial gases in the northern and central regions of Chile, driven mostly by the mining, metal fabrication and food industries […]

Shares of Constellation Brands Inc. ( STZ ) soared to a new 52-week high of $54.20 on Tuesday, May 28. This alcoholic beverage company eventually closed at $53.47, up 0.89% from the previous day’s session and generated a year-to-date return of approximately 42.4%. […]