Month: May 2013

Recently, Mack-Cali Realty Corp. ( CLI ) divested 2 of its Pa.-based office buildings – 16 and 18 Sentry Park West – to a fund supported by Keystone Property Group.The deal helped the real estate investment trust (REIT) to reap about $19.3 million which it aims to redeploy for funding its other strategic growth prospects. Located in the Blue Bell submarket, 16 and 18 Sentry Park West are mirror-image, 4-story office buildings that stretch 93,093 square feet and 95,010 square feet, respectively. […]

Copart, Inc. ( CPRT ) reported earnings per share of 41 cents for the fiscal 2013-third quarter ended Apr 30, 2013, down 4.7% from 43 cents in the corresponding quarter last year. The EPS missed the Zacks Consensus Estimate by 9 cents […]

Norwegian oilfield service firm, Seadrill Ltd ( SDRL ) reported better-than-expected first-quarter 2013 earnings. Earnings per share came in at 85 cents, which surpassed the Zacks Consensus Estimate of 59 cents owing to better utilization of rigs. However, the earnings per share figure fell below the year-ago profit of 87 cents, primarily due to a significant increase in operating cost. […]

Steel giant ArcelorMittal ( MT ) announced that it has completed the sale of 15% interest in its fully-owned subsidiary ArcelorMittal Mines, Canada (AMMC) to a consortium led by POSCO ( PKX ) and China Steel Corporation for $1.1 billion. The sale was a part of the previously announced agreement, pursuant to which ArcelorMittal’s unit AMMC and the consortium entered into a joint venture partnership. Under the deal, the partnership will own ArcelorMittal’s Labrador Trough iron ore mining and infrastructure assets […]

Earlier this week Concur Inc. ( CNQR ) announced an offer to sell new senior unsecured notes due 2018. But the prices and other terms of issue were subject to negotiations between Concur and the initial purchasers. […]

On May 28, 2013, we reaffirmed our Outperform recommendation on The Middleby Corporation ( MIDD ) based on a strong first quarter 2013 performance. Why the Retention? […]

N.Y. -based Ralph Lauren Corporation ( RL ) – a designer, marketer and distributor of lifestyle products – remains on our Neutral list with a target price of $187.00. Why Reiterate […]

The International Monetary Fund has reduced its forecasts for China’s growth to 7.75% for this year. Speaking at a press briefing in Beijing on Wednesday, first deputy manager of the IMF David Lipton said the IMF was revising its initial forecast of 8% downwards. This initial forecast was released in April along with predictions for an 8.2% increase for 2014 […]

Recently ABB Ltd. ( ABB ) brought forward a new technology for faster charging of electric buses in just 15 seconds. This will be helpful for the next-generation zero-emission urban mass transportation system. […]

TeleTech Holdings, Inc . ( TTEC ) recently announced that its Board of Directors has approved an authorization to purchase additional shares worth $25 million under the share repurchase program. Earlier in Dec 2012, TeleTech had also extended its share repurchase program by a similar amount to bring its tally to $537.3 million till Mar 31, 2013. […]

Hudson Pacific Properties, Inc. ( HPP ), a real estate investment trust (REIT), inked a lease expansion and extension deal with NFL Media for 2 properties in South Calif. – 10900 and 10950 Washington. […]

On May 30, 2013, we reiterated our long-term recommendation on Plum Creek Timber Company Inc. ( PCL ) at Neutral. […]

American Eagle Outfitters Inc. ( AEO ) recently announced a regular cash dividend of 12.5 cents per share, up from its first-quarter fiscal 2013 dividend of 11 cents that was paid in Dec 2012. epresents ing an increase of 14% from the last dividend, this marks the company’s fifth dividend hike since 2004. […]

We have maintained our Neutral recommendation on Exelon Corporation ( EXC ). The company currently has a Zacks Rank #3 (Hold). Why the Reiteration […]

General Mills Inc. ( GIS ) recently maintained its previously provided outlook for fiscal 2013 and 2014 at the Citibank Global Consumer Conference held in New York. […]

As part of its continued brand revitalization strategy, Starwood Hotels & Resorts Worldwide Inc. ( HOT ) plans to introduce one of its upscale brands, Le Meridien, in New Orleans, North America in fall 2014. […]

Guess?, Inc.’s ( GES ) first-quarter fiscal 2014 earnings of 14 cents per share slumped 53.3% from the year-ago earnings of 30 cents due to lower consumer demand and macroeconomic headwinds, especially in Southern Europe. Earnings, however, beat the Zacks Consensus Estimate of 8 cents by 75% and exceeded the company’s own guidance of 5 cents to 10 cents. […]