Month: May 2013

GE Capital, Corporate Retail Finance, an operating unit of General Electric Company ( GE ), recently served as administrative agent for a senior secured credit facility worth $550 million for Lord & Taylor. The debt financing will be executed to refinance the existing debt of Lord & Taylor and facilitate its working capital requirements to fuel further growth. Based in New York City, Lord & Taylor is a premier retailer in North America. […]

Oil major, Chevron Corporation ( CVX ) has entered into a deal with Venezuela’s national oil company, Petróleos de Venezuela S.A. (“PVDSA”) to finance the Petroboscan heavy crude joint venture in the western part of the country. Per the deal, Chevron will lend $2 billion to increase production in the Boscan field from 107,000 barrels per day (bpd) to 127,000 bpd by 2019 […]

On May 27, we downgraded medical device company, Covidien plc. ( COV ) to Underperform based on the company’s disappointing outlook for 2013. Why the Downgrade? […]

We are reverting to a Neutral recommendation on Hospira Inc. ( HSP ) from Underperform. Our target price is $37.00. […]

On May 27, 2013, we reiterated our Neutral recommendation on Quality Systems Inc. ( QSII ) based on its fiscal fourth quarter 2013 (ending Mar 31) earnings results. Why the Retention? […]

Medical technology major Boston Scientific Corporation ( BSX ) gained the European CE Mark approval for its GUIDE DBS System. The company’s latest addition to its expansive portfolio is the foremost deep brain stimulation (DBS) visualization system across the globe offering unique patient benefits. This marks the first commercial release of a product from the takeover of Intelect Medical in 2011 […]

On May 27, 2013, we reiterated our long-term recommendation on CBRE Group Inc. ( CBG ) at Neutral. The decision is based on the company’s successful execution of strategic initiatives, though stiff competition from regional as well as international players remains a plausible concern […]

In the modern world, technology plays an indispensable part in each and every phase of human life. Relying on this phenomenon, the agricultural solutions provider, Monsanto Company ( MON ) offers its customers an integrated pest management tool to monitor and control pests in the corn fields. The Insect Forecast Tool, sponsored by the company for the fourth year, helps farmers to gauge the current pest pressure and make plans for future pest control measures […]

Zacks Investment Research downgraded Sandvik AB ( SDVKY ) to a Zacks Rank #5 (Strong sell) on May 23, 2013. Why the Downgrade? Sandvik AB reported quite disappointing results for the first quarter 2013 on Apr 23, 2013. […]

Leading analog semiconductor solutions provider, M/A-Com Technology Solutions Holdings, Inc. ( MTSI ), recently introduced a new family of broadband Shunt PIN Diodes to strengthen its leading position in the diodes industry. The new product line is most suitable for customers looking for high-power diode solutions at low costs and minimum space with ultra-size dimensions of 1.5×1.2 mm […]

PGT, Inc. ( PGTI ) announced that JLL Partners Fund IV, L.P., which is the selling stockholder, has increased the size of the earlier announced underwritten secondary offering of 10 million shares to 11 million shares. The offering has been priced at $7.75 per share. […]

During Logitech International SA’s ( LOGI ) third quarter 2013 earnings release commentary, it’s newly appointed CEO Bracken P. Darrell announced plans to focus on product innovation for the fast-growing markets to improve profitability. Following this announcement, the company has already launched a number of new products in line with its strategic decisions adopted to lay emphasis on priority products that will improve its profitability, going forward […]

Barrick Gold Corporation ( ABX ) received a resolution from Chile's Superintendence of the Environment (SMA) that imposed a fine of about $16 million on the gold miner for not meeting the environmental control measures at its Pascua-Lama project. Barrick did not abide by the environmental standards which eventually led the Chilean government to bring the construction on the Chilean side of the project to a halt. The SMA requires that Barrick should complete Pascua-Lama's water management system in accordance with the project's environmental permit before resuming construction activities in Chile. […]