Month: January 2015

Universal Corporation ( UVV ), the leading global leaf tobacco supplier, has been working diligently to maintain a strong balance sheet. Over the last two fiscal years, Universal has reduced long-term debt by more than $50 million and paid more than $60 million in annual dividend payments to common and preferred shareholders. Last week, Universal Corp. […]

M cCormick & Co., Inc ( MKC ) recently announced that it has appointed Lawrence Kurzius as its new chief operating officer (‘COO’) and president, effective from Jan 5, 2015. Kurzius will report directly to McCormick’s chairman and chief executive officer (‘CEO’), Alan D. Wilson, and will assume responsibilities for McCormick's businesses worldwide […]

Norwegian oil giant Statoil ASA ( STO ) aims to extend the life of the Norne field to 2030. Per initial development plans the field was slated to be shut down during 2014. However, Norne remains in good technical condition owing to its systematic maintenance for 17 years. […]

Vertex Pharmaceuticals Incorporated ( VRTX ) provided a comprehensive overview of its initiatives geared towards the development, approval and launch of new medications for the treatment of patients suffering from cystic fibrosis (CF). The company also provided its financial guidance for 2015. Kalydeco Label Expansion to Continue in 2015 Vertex Pharma’s lead product, Kalydeco, is currently approved for the treatment of patients (six years and above) with CF who have specific genetic mutations in their cystic fibrosis transmembrane conductance regulator (CFTR) gene. […]

The first full week of the New Year began with analysts once again anticipating a decline in Macau gross gaming revenues for 2015. In one other development, Rolling Chip Turnover at Iao Kun Group Holding Company Ltd. ( IKGH ) declined for the third consecutive month in December and also missed its own annual expectation […]

Oil giant BP plc ’s ( BP ) ongoing court case tied to its 2010 Gulf of Mexico (GoM) oil spill suffered a setback on Friday. The 5th U.S. Circuit Court of Appeals voted 7-6 against a rehearing of its 2014 ruling that the company cannot avoid related federal penalties by passing the buck to another company's failed equipment […]

In its monthly release, Houston-based oilfield services provider, Baker Hughes Inc.'s ( BHI ) worldwide Rotary Rig Count for Dec 2014 fell to 3,570, down 100 from 3,670 in Nov 2014 and up 92 from 3,478 in Dec 2013. The Baker Hughes Rotary Rig Counts give the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets. […]

Units of Hamilton, Bermuda-based limited partnership Golar LNG Partners LP ( GMLP ) tumbled almost 11% after Golar LNG Ltd. ( GLNG ) decided to sell a part of its interest in the partnership. Notably, Golar LNG Partners was formed by midstream energy player Golar LNG Ltd […]

The year 2015 started on a positive note for JPMorgan Chase & Co. ( JPM ) as far as the resolution of litigation issues is concerned. After settling a lawsuit for foreign exchange market price manipulation last week, the bank is on the verge of resolving another legal headwind. […]

The introduction of generics more than 30 years ago changed the pharmaceuticals business forever. These new drugs paved the way for cheaper alternatives to expensive patented drugs. Not only did customers benefit from lower prices, but protections were provided to those innovators who had discovered the drugs in the first place […]

MGIC Investment Corp. ( MTG ) continued its streak of strong operating statistics, seen over several months, in the month of Dec 2014. The trend reflects a decline in the delinquency level and an improvement in new business written. […]

XL Group plc ( XL ) aims a premier position in global specialty insurance and reinsurance markets. In this regard, the property and casualty insurer inked a deal to buy Catlin Group Limited ( CLNGF ) for about $4.1 billion. The transaction is expected to see light in mid 2015 pending approval from Catlin shareholders, the Supreme Court of Bermuda, customary regulatory approvals, anti-trust clearances, and other customary closing conditions. […]

General Motors Company ’s ( GM ) Chevrolet brand has introduced the new 2016 Volt electric car at the Detroit auto show. This vehicle can travel 50 miles on a single charge and offers a sleeker and sportier design along with higher efficiency and better acceleration. General Motors has stated that the 2016 Volt can travel 400 miles on gas after the charge of the battery is fully exhausted […]

On Jan 12, 2014, we issued an updated research report on Anthem Inc. ( ANTM ), earlier known as WellPoint Inc. […]