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Interim dividends of Euro 0.65 and 5.5p per share were declared for Royal Dutch and Shell respectively, in line with expectations.
0
neutral
and (iii) in the UK, CIBC Oppenheimer International Ltd or CIBC Wood Gundy plc.
0
neutral
Our model has compound annual growth of 46% for 1998 to 2000 after compound annual growth of 54% 1995 &rough 1998.
0
neutral
There are no covenants requiring accelerated prepayment due to credit rating cuts or share price weakness.
0
neutral
Business Description Charter One Financial is a $37 billion banking and financial services holding company headquartered in Cleveland, Ohio.
0
neutral
Investment Opinion Penney is making more progress than we had expected toward a profit turnaround.
1
positive
Transplant patients often take the drug for the rest of their lives following a transplant.
0
neutral
Studies in patients with stage 2 or resistant hypertension concluded that darusentan safely and effectively lowers blood pressure.
1
positive
This is still remarkable, and we doubt there are 4-5 hardware companies of more than $1 billion that can offer that kind of growth.
1
positive
We have assumed that the properties have appreciated materially since 1997, but have not done extensive analysis of the current market values.
0
neutral
Headline numbers looked favorable considering lower Cingular income was a 3 cent drag on 2Q earnings (on a yoy basis).
1
positive
Both worldwide beverage and snack volumes were up 4% and overall revenue grew 6% as a result of solid pricing/mix impact from all of PepsiCo's businesses.
1
positive
For the purposes of our index, we measure free cash flow in terms of a free cash flow yield to enterprise value, defining free cash flow as net income plus D&A less capital spending.
0
neutral
In 1Q00, HSY recorded a $4.5 million aftertax gain on the swap of corporate aircraft..
0
neutral
The 10-year average multiple is 1.8, and the average ROE is 15% over that period.
0
neutral
Should these factors have a greater impact on the company than we are anticipating, our target price might not be achieved..
2
negative
Thus, the new price target on the stock and the recommendation to Buy is based on two core assumptions.
0
neutral
Q4 effective tax rate was 35%, producing net income from operations was $227 million, flat from a year ago.
0
neutral
circuits: photo resists, developers, removers, anti-reflective coatings, chemical mechanical CMP pads & slurries.
0
neutral
The energy price will be tied to the fuel costs of the individual power plants and the capacity price will be based on the fixed costs of the units including their cost of capital.
0
neutral
Products and services include individual and group life, health and disability insurance and administration services to group plans.
0
neutral
Revenues totaling $272.8 million exceeded our $266.7 million estimate, as average day rates and utilization of $65,100 and 94.4%, respectively, were above our $63,400 and 89.0% estimates.
1
positive
Although management's full-year guidance implies flattish earnings during the year, quarterly EPS growth is likely to vary significantly over the next three quarters.
2
negative
Northern Trust reported better than expected 1Q00 results with EPS of $0.49, an impressive 20% above the $0.41 recorded in the prior year period.
1
positive
(IBM will manage AT&T's legacy applications processing, which will provide net savings to AT&T.) AT&T Solutions will act as the single point of contact for the IBM MSA part of the deal while AT&T and BTY, with its pending joint venture outside of the scope of the deal, stands to benefit as subcontractors for certain se...
1
positive
Maxim is also a supplier into the wireless local area network (WLAN) market, selling LNAs, PAs, and IF transceivers.
0
neutral
Outside the U.S., Apple has opened only 20 stores so far, with 4 in Canada, 7 in Japan, and 9 in the U.K. (Exhibit 9).
0
neutral
While changes in job status and dental insurance are important drivers of dental procedures, many other factors influence the demand for dental services at the practice level, including procedure mix.
0
neutral
Sallie Mae releases fourth-quarter earnings in the week of January 12th.
0
neutral
We remind investors that $106.9 million of the overall accrued liabilities represents restructuring related charges.
0
neutral
We believe that the fate of Claritin's patent is not likely to be settled before December 2002, allowing the company to maintain exclusivity through part of 2003.
0
neutral
Kearney (ATK) in 1995, to expand and enhance its consulting service portfolio.
1
positive
It appears that the gain from this sale may have been recorded as MSR hedge gains, as the company stated that the sale was part of its risk management activities.
0
neutral
We estimate that a $1.00/bbl change in the refining margin changes its 2005 earnings per share by $3.85..
0
neutral
But we think there is a volume trade off that will overwhelm the lower price and thinner margin, producing robust profit growth over the next few years.
1
positive
For the fiscal third quarter, we are raising our earnings estimate to $0.42 per share, from $0.41 per share.
1
positive
Broadcom lowered its third quarter revenue guidance on Sunday.
2
negative
Asset retention has also been good, resulting in continued growth in pension assets.
1
positive
While the company's top line was basically in line with our projection, the company's three core businesses performed solidly in our view, with each posting double-digit revenue gains and 20% bookings growth.
1
positive
Only about 20% of hypertension patients remain on their medicine, largely because of side effects.
0
neutral
We continue to believe the cycle can last longer than most investors currently think and thus remain bullish that EPS estimates are likely to move upward, however not in a straight line, longer term.
1
positive
In the hip, articular cartilage covers the end of the femur and the socket portion of the acetabulum in the pelvis.
0
neutral
For the most part, though, growth is being driven by Angio-Seal vascular sealing devices.
0
neutral
We remain with our Neutral 2 rating on Ingersoll-Rand..
2
negative
Existing home sales; new residential construction; weather-related damage; commercial repair and remodeling; redecorating.
0
neutral
Reported GAAP Q207 bad debt expense includes a $39 million additional reserve charge to reflect a decline in collectibility of accounts receivable from uninsured patients.
2
negative
The distribution of Hospira shares to Abbott shareholders will take place in 1H'04.
0
neutral
On a YTD basis, Samsung's sales were up 57%, compared to 13% for Nokia, 36% for Motorola, and 31% for the industry as a whole.
1
positive
We believe there is limited upside potential, near-term, pending the direction of the market.
2
negative
The SERCA acquisition should close in March 2002, having been pushed back from the beginning of F3Q02.
0
neutral
Single-serve is an incremental growth area for Arnotts and Pepperidge that can be leveraged further.
1
positive
Strong gains in pharmaceutical revenue offset by continued high investment spending - Worldwide pharmaceutical revenue growth (up 33%) was exceptionally strong, led by the 35% growth in the U.S. pharmaceutical business.
1
positive
Importantly, although Corn Products' North American sweetener margins have made steady improvements over the past few years, we believe that there is still plenty of room for upside given the unit's historical peak margins of 17%, in addition to sweetener margins in Corn Products Rest-of-World segment which currently r...
1
positive
There Is Precedence For Hearing A Case Prior To Infringement.
0
neutral
However, the new customer wins was clearly not material, or if it was it was offset by weakness in some other portion of the business, leaving underlying growth just at market levels.
2
negative
Intuitively, before we do the math, we can clearly see that the overall growth rate of the combined company is now less than 5%: the non-growing acquisition has diluted the overall growth rate of the company.
2
negative
The company's cash balance also tends to be bolstered by net increases in client funds.
1
positive
Bristol has high generic risk with approximately 36% of its 2003 sales potentially exposed to generic competition in the 2003-2007 timeframe.
2
negative
We are now expecting FQ3-04 revenues of $137.6 million, up from previous $136.3 million, and representing 4% sequential growth.
1
positive
This includes: 1) insight into a unique healthcare problem (like safety or infections), 2) the application of technology to those problems, 3) low cost manufacturing and 4) superior customer service.
1
positive
If MySpace is able to achieve specified traffic goals in its contract with Google the revenue-share payments are expected to ramp as follows: $50mm in 2007, $250mm in 2008, $300mm in 2009, and $300mm in 2010.
1
positive
Product cycle+attractive valuation = opportunity.
1
positive
Although disappointing, we note that both these factors will likely impact ADCT's results negatively only in the short-term.
2
negative
Compared to other wholesale-oriented utilities currently trading at an 11.2x PE earnings multiple (and our peer group target multiple of 11.5x), our Entergy multiple is higher, based on Entergy's nuclear expertise as well as its relatively strong credit and liquidity position.
1
positive
Nextel's corporate accounts group has sold phones to about 50% of the Fortune 500 companies.
0
neutral
Nonetheless, we expect to see continued leverage of that expense line item going forward as the ads will help Lowe's replace less efficient print ads and perhaps even coax more vendors into national co-op support.
1
positive
The conference focused on weak air travel revenue, as well as key drivers for growth, including: 1) merchant hotel; 2) packaged travel; 3) corporate market; and 4) international expansion.
2
negative
Accessory and software attach increases as consumers expand uses of digital media.
1
positive
We expect that GPS shares will remain in the penalty box until earnings visibility improves and Old Navy moves past its current growing pains.
2
negative
Fosamax is the only bone drug with an FDA approved indication for hip fracture reduction.
1
positive
Down from a 52-week high of $53.50 (reached on August 21, 2002), H&R Block's shares at $37.20 are trading at 11x our fiscal 2003 estimates.
0
neutral
Corporate credit was the one minor disappointment -- we now estimate that USB will hit normalized credit costs by end-2004 as compared to our previous estimate of mid2004, as the last of the unwanted leveraged lending portfolio is worked out..
2
negative
Mirage is working with the county and others to enhance access to the site.
0
neutral
end markets was reduced in the wake of major asset sale activity in the 1994-96 period..
2
negative
CA is currently trading at 13x our 2005 and 13x our 2006 EV/FCF projections, compared to the corresponding large cap software averages of 14x and 12x (See Figure 12).
0
neutral
Not only has HAL generated improved earnings over the past five quarters, oilfield service operating results have established record levels and previously lackluster results at KBR have stayed solidly in the plus column.
1
positive
This is based on our view that CRM and supply chain (more so than ERP) software needs inherently will require increasing levels of industry- and company-specific functionality, which should create more demand for custom development work -- as opposed to the use of software packages..
1
positive
Photoshop represented an estimated 34% of sales in 2000.
0
neutral
We believe that today's announcement of the planned acquisition of Advanced Fibre (AFCI: Hold) by Tellabs (TLAB: not rated) introduces a new broad-based, formidable player into CIENA's already crowded marketplace.
2
negative
Key to our ROE assumptions are the following: Strong Institutional Trading.
1
positive
Management noted that demand for cost accountants was picking up sharply, as a positive indicator on the economy.
1
positive
We also like MRO's relatively conservative planning assumptions:.
1
positive
However, the competitive pressure from the drug-eluting stents could be daunting.
2
negative
We have forecast NOV revenues to increase 27.8% to $9.0 billion and operating profit margins to improve 370 basis points from 15.8% to 19.5% from FY06 to FY07.
1
positive
We view APAC, TeleTech and West as Convergys's key competitors.
0
neutral
In a takeover, we would model a price of at least $28 per share, and getting a few dollars more is within reach, depending on conditions.
0
neutral
To more accurately reflect intersegment transactions as if they were third party transaction, the firm implemented a new business segment allocation methodology.
0
neutral
SWK views the distant market share gap between itself and SnapOn as a significant disadvantage when dealing with customers in addition to securing distributors.
2
negative
Our secondary valuation method on EMR is based on total enterprise value (TEV) to sales.
0
neutral
performance while overall market fundamentals are expected to remain subdued in the calendar third quarter.
2
negative
In each instance, the market overreacted to various external issues.
0
neutral
Real Estate Department Investment Expected To Prevent Significant Slippage.
0
neutral
Including these 2 planes GECAS only has 12 planes on the ground, an impressively low number given the state of the aviation industry..
1
positive
We believe these data provide a more accurate picture of housing market trends than OFHEO's home price change index which reflects sales initiated perhaps six or seven months ago when prices were still rising.
0
neutral
It was number two in lending to low and moderate income households.
0
neutral
Long term, we expect Ecolab's earnings growing 12-14% on 6-8% sales growth.
1
positive
In addition, its dividend yield of 2.4% is well above that of the market, and the stock has favorable low-beta, noncyclical characteristics.
1
positive
However, we have reduced our revenue estimate for the quarter to $624 million from $629 million.
2
negative
HP expects that margins will approach the high-end of its guided 13-15% range in 4Q.
1
positive
We are introducing a 2002 revenue and EPS number of $2.6 billion and $0.45, respectively..
0
neutral