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� DTS - DTS produces explosion-proof lighting and electrical protection equipment for a wide range of industrial markets including drilling, oil and gas, marine, chemical, pharmaceutical and food products.
0
neutral
U.S. volumes declined only 1% YoY despite lapping very strong 6% growth in 1Q04.
1
positive
It appears that NAPA margins remained relatively constant during the period.
0
neutral
This creates a situation where the PNC's book value is understated by approximately $3.0 billion, or roughly $8.63 per share.
0
neutral
2.APC also lowered its production outlook, decreasing the range to 159-164 million BOE, from 160-165 million BOE.
2
negative
Our extensive work on fiber economics suggests FTTP cost savings, on a per-line basis, will about twice as high as those likely to be delivered by AT&T's FTTN network (Exhibit 3).
2
negative
For FQ4:01 (ending May), we estimate that Oracle's top line will shrink roughly 4.5% year-over-year to $3.2 billion and that EPS will decline 19% from FQ4:00 to $0.12.
2
negative
All things equal, we estimate that a $1.00 per mmBTU change in natural gas costs affects ethane costs by approximately $0.065 per gallon and ethylene feedstock costs by $0.028 per pound.
0
neutral
We will be listening to the conference call this morning and update our model and price target to account for this potential acquisition.
0
neutral
estimate of $1.09, a multiple in line with Vitesse's peers.
0
neutral
Some dealers won't even take trade-ins for 2003 models, since they feel it will not be necessary.
0
neutral
Key uncertainties are credit expenses, net interest margins and income, and revenues from volatile sources such as capital markets.
2
negative
The focus of Sara Lee is on repeat purchase, fast turning basic but branded consumer products.
0
neutral
Our five-year earnings growth forecast from cyclical to trough levels is 21%, above the consensus forecast of 17%.
1
positive
The goal of the transdermal application of Emsam over Eldepryl's oral administration is a reduction in severe hypertensive episodes, or the so-called "cheese reaction" resulting from consumption of large amounts of tyramine (e.g., from fermented cheese, red wine, herring, over-the-counter cough/cold medications, etc.) ...
0
neutral
KMB's tax rate in the first quarter and going forward is 31%, down from 32% last year.
1
positive
Our key conclusions from our meeting at 85 Broad Street, which is home to Goldman Sachs, are as follows: As the "great one" once said.
0
neutral
Maintaining Hold rating on DUK and lowering price target to $14.
2
negative
Examples of trends driving the increased electronic content in an automobile include the shift toward advanced driver assistance and safety systems, an increased use of GPS systems, telematics and entertainment systems, along with the replacement of mechanical systems in areas such as brakes, shifting and steering.
0
neutral
The improvement was driven by increased synfuel production of 3 million tons versus 2.1 million in the prior year's quarter and the ability to utilize synfuel credits due to higher taxable income.
1
positive
We raised our F4Q:07 EPS estimate from $0.92 to $1.14 to reflect a significantly lower tax rate and better performance for the Valvoline and Water segments.
1
positive
Assuming this $1 billion of debt reduction in 2H02 and full-year EBITDA of $2.2 billion, FDs adjusted debt/EBITDA should decline to about 2.45x.
0
neutral
In Japan, CDMA subscriber additions were 480k, the same as November, but up significantly compared to 349k in December 2005.
1
positive
the discussion below for additional detail on Panitumumab.
0
neutral
CRESTOR LIKELY TO SURPRISE: Markets look to have also largely written off Crestor (statin anti cholesterol Global sales $1268m; US sales $730m) due to safety concerns and the upcoming patent loss on Merck's statin Zocor this June.
2
negative
Note, 3M's initial 2004 guidance was $3.46-3.52, and the firm came in at $3.75 for the year -- much of the upside came from the weak dollar.
1
positive
We reiterate our Overweight rating on YUM shares and continue to recommend the stock as a core holding for growth-oriented portfolios.
1
positive
During the 12-week third quarter, sales increased 3.9% to $10.2B from $9.8B in the prior-year period.
1
positive
FQ4 revenues should be up slightly, margins and OPEX roughly flat.
1
positive
Lower Interest and Higher Share Repurchase Offset Weak Operating Profit Growth This morning Pepsi Bottling Group reported Q3 EPS of $0.71, at the high end of its $0.67-0.71 EPS guidance range.
1
positive
Major negatives in the quarter: Weak new orders of aluminum mill products: The index of net new orders of aluminum mill products declined 9% in November, reversing a positive trend that we have seen in September and October.
2
negative
Cisco over the years has been one of Solectron's stalwart customers.
0
neutral
(NYSE:RDC) Monitor - Describes stocks whose company fundamentals and financials are being monitored, and for which no financial projections or opinions on the investment merits of the company are provided..
0
neutral
We project EBT to increase about 30% in the F4Q, led by favorable mix, and growth in Fine Fragrance and Eastern Europe (hair care).
1
positive
Meanwhile, domestic public finance volume was down 15% and structured finance writings were down 27%.
2
negative
Reducing EPS Estimates; Does It Still Pay to Invest in Defense Stocks?.
2
negative
eBooks: So far, mass market books and novels have not seen high user adoption, and we note that Barnes & Noble stopped selling eBooks in 2003 after realizing they were not doing well.
2
negative
Share price at Yesterday, MDT presented surprisingly positive results March 7, 2005 from the Care-HF study demonstrating a survival benefit failure receiving versus optimal $54.00 in heart therapy.
1
positive
higher international sales (Japan) offsetting weaker U.S. sales and slightly lower participation game placements.
0
neutral
designing a Phase II program to determine the safety and efficacy of the compound in treatment naive patients and in highly treatment experienced patients with multiple resistance mutations associated with the thymidine analog drug AZT and D4T..
0
neutral
CTSH believes that the global landscape for IT Services delivery is quickly consolidating into a market dominated by 5 to 10 global players who will all be pursuing variations of the global delivery model (consistent with our view � see our Industry Initiation Report).
0
neutral
The Information Technology Association of America estimates that there are roughly 350,000 open positions in the information technology industries.
0
neutral
� On July 2, Mirant announced the pricing of a $370 mil.
0
neutral
For 2006, we expect this division to earn approximately $280 million.
0
neutral
Morton's table salt is distributed through grocery stores, food wholesalers, and food distributors, and owns roughly half of the market.
0
neutral
In addition to ASO membership similarities, we also acknowledge that the operating income of AET's and CI's other significant business segments stack up pretty closely.
0
neutral
Before Promus, Keltner held various positions SVP, CFO Mr.
0
neutral
Disney's Studio Entertainment division is looking to build franchises to drive stable longterm growth.
1
positive
At the close of FY'08, LLL's largest contract was the U.S. Air Force CFT, comprising ~3% of total company sales.
0
neutral
We think YUM shares are worth $36 based on our sum of the parts model.
0
neutral
Food and beverage costs fell 88 basis points to 30.6% of sales in the first quarter.
1
positive
Exhibit 3: Changes in operating targets & contract positions.
0
neutral
SG&A delevered 40 bps as a percentage of sales due to the weak comp.
2
negative
We expect 3QFY03 numbers to be fairly perfunctory.
0
neutral
Moreover, an anticipated dividend payout in the low 60% range is expected to continue to provide Citizens with good financial flexibility.
1
positive
Revenues and income have been affected by political or economic instability, terrorist activities, changes in national policy, competitive pressures on certain air carriers, fuel shortages, labor stoppages, recessions and competition from other leasing.
2
negative
In order to return to profitability, management is making changes.
0
neutral
ASO repurchased 5M shares at roughly $27 in the third quarter, compared to 2M in 2Q:05, accelerated by funds raised in the mutual fund sale.
1
positive
That said, we continue to believe that the full impact of the pricing increase will not be felt until F2007.
0
neutral
The baked goods, dairy, and bottling industries are exhibiting some similarities: Smaller family operations are selling to large, corporate consolidators in order to escape the changing retail environment, the consolidation of competitors, or the next generation of family members not wanting to take over the business.
0
neutral
Significant expansion potential is present longer-term, with a plan to boost output by 70 MBPD likely to move forward upon receipt of necessary construction and environmental permits..
1
positive
BUD and CCU already have a working relationship through a joint venture in Argentina (BUD owns 11%)..
0
neutral
No change to EPS estimates on near-term business or acquisition.
0
neutral
Schering's treatment for Crohn's disease was recommended for approval by the European Union's CPMP in May and approval should follow in the next several months.
1
positive
Employers may pay all or a portion of the monthly premiums, and employees, through payroll deductions, pay the remainder, if any..
0
neutral
Cigna's technology suite is also designed to identify member health risks at an early stage, and then intervene with appropriate preventative medical care.
0
neutral
We are about 1% and 3% ahead of consensus for this year and next.
1
positive
SBC has a "preferred provider" relationship with WCG which guarantees that SBC must offer all traffic for transport to WCG, including internal traffic.
0
neutral
Beef segment sales decreased slightly to $2.99 billion from $3.0 billion last year, and were slightly below our estimate of $3.0 billion.
2
negative
We believe many observers missed a significant new commitment made by CEO John Chambers during his closing comments on Cisco's FY4Q04 conference call.
0
neutral
Sales in Canada, up 42%, have been outpacing domestic sales and are another driver of top-line growth.
1
positive
We think the geographic diversification and the focus on midtier cities have helped GCI's newspapers grow revenue faster than the industry average for the last two quarters.
1
positive
With that said, management has declined to give many details before the deal is completed, which it believes will occur in July 2006.
0
neutral
Company Description Biogen Idec develops, manufactures, and commercializes therapeutics for autoimmune diseases and cancer.
0
neutral
We also assume that the market would be indifferent to a deal with a 15x 2004F PER based on EPS adjusted for cost savings.
0
neutral
Wireline capital spending grew 13.0% year-over-year to $1,185M.
1
positive
The dividend payout ratio was close to 45% in 1Q05, in line with the 40%-45% range we expect Compass to maintain over time.
0
neutral
After this, he noted that Siebel won several "extremely large" deals with Key Bank and a handful of other firms.
1
positive
In computing a price target, given the relative uncertainty in the earnings outlook, we assume that the shares will trade at a market multiple (was a 10% premium) on 2001 earnings.
0
neutral
Indeed, since we have been following TAP's predecessor, Adolph Coors, the meeting keeps on getting longer as the company brings more and more executives in from around the world.
0
neutral
FPL has seen a 9% share price decline since the deal was announced.
2
negative
Our forecast contemplates slower growth in the proprietary transactions than the bankcard issuers and American Express over the forecast period.
2
negative
Lincoln's hugely popular variable annuity living benefit has helped propel its VA market share up to #6 in 1H05 from #12 in 2002.
1
positive
BellSouth will repurchase shares after announcing a $3 billion buyback program in November 1998.
1
positive
World's Largest Employee Benefit Consultants - 2002.
0
neutral
As of last quarter, approximately 40% of Tellabs' North American revenue came from wireless carriers.
0
neutral
Passenger and light truck OE sales are expected to be flat and to grow by 4%, respectively.
1
positive
The higher rated collateral benefits in at least two ways: (1) the cumulative losses on the collateral need to rise to a much higher level for the deals to experience stress and (2) the higher rated tranches of collateral are likely to experience principal payments faster should the deals come under pressure.
1
positive
The other was Lehman's aggressive product and geographic expansion, which has resulted in increased market share in multiple businesses.
1
positive
Management currently estimates its tax rate to be in the 33-34% range in FY2005, higher on a year over year basis.
2
negative
January 2007 quarter guidance benefits from an extra week on top of the typical thirteen week quarter.
1
positive
*Peer group defined as Campbell Soup, Colgate, Gillette, Kellogg, PepsiCo, Procter & Gamble, and Wrigley.
0
neutral
Business Development Initiatives Blockbuster's business model includes plans to unlock new value from all existing assets.
0
neutral
The financial impact of this strategy was seen in the results of 3Q06, when MOT revenue for the quarter significantly missed the consensus estimate, largely due to the mobile devices business performing below expectations..
2
negative
Intel management does not expect any unfulfilled orders in the 2H.
1
positive
Earnings Impact: We have raised our expense ratio assumption slightly for 1999 to assume that approximately half of the savings are now reflected in the combined ratio.
0
neutral
Medical Systems operating profits also grew 15% in Q1.
1
positive
Finally, we expect a sizable inventory fill as distributors will likely hold a month's worth of inventory of Advate before switching patients.
0
neutral
This is surprising to us as the company will likely be rolling out the combination pill in mid-2004 and the accompanying promotional and phase IV R&D expense would push out profitability.
2
negative
As such, we think that this division is likely to emerge as a long-term strategic asset for the company.
1
positive