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Based on solid performance at Cingular, we are raising our 2005 EPS estimate to $1.75 from $1.68, our 2006 estimate to $1.95 from $1.93 and our price target to $27 from $26. | 1 | positive |
The cash flow from this line--equal to $2.6 billion--was used to build other lines. | 0 | neutral |
In the second half of the 1990s the radio industry experienced tremendous advertising growth. | 1 | positive |
Moreover, we believe the valuation no longer looks expensive. | 0 | neutral |
Yahoo! can also bolster revenue growth with share gains and price increases in its Yellow Pages business. | 1 | positive |
We expect continued strength at the network, driven by high ratings for the CSI franchise, Survivor, and other programs that likely have several more seasons left. | 1 | positive |
Foundry orders are expected to be up slightly in the first quarter, as are orders from flash and logic customers. | 1 | positive |
FPL Group had invested approximately $2.3 billion in FPL Energy as of December 31, 1999. | 0 | neutral |
MCS is in the process of taking its business model to the next level with Build Logix. | 0 | neutral |
The editorial alleges that subpoenaed documents dated July 5, 2000 show that Merck failed to report three (3) myocardial infarctions that took place in patients taking Vioxx during the study. | 2 | negative |
UPS' management indicated that they are seeing "steady growth in the economy" and are thinking GDP growth will be in a range of 2% to 3% for the next several quarters. | 1 | positive |
Although net interest margin was roughly in line at 3.65% vs. 3.67% in 2Q, linked quarter annualized earning asset growth of only 2.7% caused the contribution from net interest income to fall $0.03 short of forecast. | 2 | negative |
Noninterest expense The company's noninterest expenses increased 12.0% year over year to $309.0 million. | 0 | neutral |
Commissioner Powell went on to question the wisdom of states looking to break-up or restructure the RBOC and indicated that he does not have a "whole lot of sympathy for the idea". | 0 | neutral |
This target enterprise value represents a 12.7x multiple of 2004 estimated pro forma EBITDA of $7.33 billion, or $4,350 per basic subscriber. | 0 | neutral |
Verizon's DSL penetration has also lagged (along with Qwest's) well behind that of AT&T and BellSouth. | 2 | negative |
The offset is that is also improves the financial health of other domestic insurers, and accordingly Aflac may not benefit from the flight to quality which aided its sales in prior years. | 1 | positive |
Adhesives account for 28% of revenues and Graphic Arts represent 15% of sales. | 0 | neutral |
Although the current focus is on the North American market, we believe the longer-term future will be driven by international activity. | 0 | neutral |
US Airways Income Statement Comparisons 1997-99E. | 0 | neutral |
UST's 10K specifically refers to the possibility of a shift to weight-based tax in WA. | 0 | neutral |
This inventory adjustment cost the company an estimated $10 million in revenues. | 0 | neutral |
Company Description: SLM Corporation, also known as Sallie Mae, is the nation's largest private source of funding and servicing support for higher education loans for students and their parents. | 0 | neutral |
Included in ITW's revised outlook is a near consensus second quarter EPS range of $1.30-$1.36. | 0 | neutral |
SBC Offers Compelling Total Return We believe that there are three items that should drive returns for SBC shareholders: First, we believe there is 10% upside for SBC shares based on our estimate of value captured by SBC through the transaction. | 1 | positive |
Miscellaneous expense declined to $5.0mm from $7.3mm. | 1 | positive |
Description of Business Process Control (21% of Consolidated Sales, 18% of Segment Income) Emerson Process Management business (formerly known as the Fisher-Rosemount group and related businesses), is a leading provider of process management solutions, including control systems and automation software, measurement devi... | 0 | neutral |
As the table illustrates, Lucent generated $669 million in net pension/post-retirement income and $615 million in operating losses in 2003. | 0 | neutral |
The tax rate of 25.2% was 20 basis points higher than expected and compares with 24.0% in the year ago quarter. | 0 | neutral |
The company benefited from manufacturing efficiencies related mainly to the ramp-up of volumes at recently expanded operations in Mexico, China and Romania. | 1 | positive |
Given the board's silence on the issue, we believe greater activism from shareholders (existing or new) is the only way a change in the corporate structure would be successful.. | 2 | negative |
News Corporation - Increase in guidance on the back of continued strength in 2Q. | 1 | positive |
Margin Commentary Gross margin expanded 42 basis points year-over-year due to continued reductions in inventory acquisition costs. | 1 | positive |
We are reducing our target price to $141 from $143 due to lost cash. | 2 | negative |
Specifically, churn increased 50bps from Q2 2003, to 2.7%, versus our expectation of 2.6%. | 0 | neutral |
� Limits On Margin Growth: With demand recovering, the sky appears the limit for unit and sales growth. | 1 | positive |
The components of this total are as follows: Copays as a % of costs. | 0 | neutral |
DRAM and flash memory orders are expected to be strongest in Q3 with foundry orders also expected to be up from Q2. | 1 | positive |
By targeting a different market with a different brand, we believe Avon will not significantly cannibalize its core brand or channel. | 0 | neutral |
Looking ahead to the fiscal third quarter, the company indicated that advertising revenues in the Publishing segment are currently tracking up in the low teens. | 1 | positive |
The first indication to be submitted to the FDA will be for hepatitis C monotherapy since the Phase III trial began in July, 1997. | 0 | neutral |
Thus, using a mid-point between these two methodologies, puts us roughly in line with our $17.50 target price. | 0 | neutral |
Exhibit 7 Air Products and Praxair: Normalized Valuation. | 0 | neutral |
o D&O and E&O business declined by 0-10%, with the greatest pressure on rates in the U.K. and Europe, where rates were down by 10-20%. | 2 | negative |
The current multiple on S&P 500 earnings is roughly 21x estimated 2002 earnings. | 0 | neutral |
AMD is apparently also running a huge marketing campaign in China with OEM wins. | 0 | neutral |
We are not counting on Stonecrest Medical Center being completed. | 0 | neutral |
Additionally, Bristol has yet to begin to study its pediatric use (contingent upon FDA discussion on carcinogenicity), which could ultimately become a meaningful contributor to sales growth potential. | 1 | positive |
Low Invested Capital Base from Direct Selling Channel Generates Strong ROICs With streamlined, regional manufacturing and all sales generated through independent beauty advisors (eliminating the need for capital intensive distribution through retail stores), AVP can maintain both lean working capital levels and low ove... | 1 | positive |
business, some 80% has been returned to shareholders in the form of dividends and share repurchase.. | 0 | neutral |
The tax rate in the quarter was 33.5%, slightly higher than the historical tax rate as a result of the sale of the company's Ireland facility to Arterial Vascular Engineering. | 2 | negative |
Rafael Anchia): This bill supports the imposition of a 7.5% tax on coal (includes lignite) used, or purchased for use, in the state. | 0 | neutral |
Outside the US, comps were up 24% in Asia Pacific, ex Japan, and 30% in Europe. | 1 | positive |
Figure 1 displays the recent trend in year over year revenue growth and order growth, with adjustments for the impact from Scientific Atlanta. | 0 | neutral |
This growth was in large part offset by competitor pricing and promotional activities outside of the U.S. International sales grew 7% to $273 million (3% FX neutral), in-line with our growth estimate. | 0 | neutral |
We continue to believe that Tellabs stock could trade in excess of a 40x multiple on our CY' EPS estimate of $2.35, so we continue to calculate a 1Zmonth 99 price target of $105 and rate the stock Buy. | 1 | positive |
We reduced our F1999 (June) EPS estimate to $2.62 from $2.75, on forecast revenue of $3,873 million, because of limited visibility. | 2 | negative |
In this transaction, GDT gained an advanced surgical cardiac ablation technology for the treatment of atrial fibrillation. | 1 | positive |
It also benefited from a $5 million reversal of an environmental reserve. | 1 | positive |
On September 10th, Macy's (M, $31.78, Neutral) will begin to advertise and promote its exclusive Martha Stewart (MSO, $13.07, Not Covered) line. | 0 | neutral |
Credit Suisse view: With 40% of Colgate's revenues coming from oral care we believe that the company remains well positioned for the current challenging economic environment in the U.S. (even its Hills pet food business should continue to benefit from favorable category dynamics). | 1 | positive |
The oil price assumption is $60/bbl long-term and long-term refining margin assumption is $9/bbl. | 0 | neutral |
Overall, pretax income increased 37.7% in the quarter, to $220.5 million, $17�18 million above our estimate. | 1 | positive |
We estimate pension expense was 60c in '03 vs. tax occurred during the fourth quarter of 2003. | 0 | neutral |
In addition, we expect Halliburton to generate free cash of approximately $1 billion in 2000. | 0 | neutral |
� Directory Business Spin-Off On Course: The previous announced directory spin-off (Idearc) will occur on November 17, 2006. | 0 | neutral |
The 3.3x multiple represents premiums of over 50% and about 15% to the 2.0x trough Price/Sales ratio the stock has traded at over the past three years and the 2.9x the stock is trading at currently based on our 2004 forecasts. | 0 | neutral |
We believe multiple expansion is justified by rising return on capital from already record levels. | 1 | positive |
Both Government and Commercial contributed to sales growth with Commercial up an impressive 18%, driven by robust aftermarket activity and demand for new biz jets; and Government sales 13% higher than 2Q05, driven by military systems upgrades and modernization programs. | 1 | positive |
The Canadian segment margin would have been 8.5%, after adjusting for this gain. | 0 | neutral |
The current political concern revolves around the government's consideration of privatizing Ginnie Mae and the potential that the organization run by the private sector could emerge as a competitor. | 2 | negative |
At these levels TGT shares appear to be discounting a lot of negatives. | 2 | negative |
PRODUCTS AND MARKETS While most of Oracle' software revenue is derived from sales of database software, this is "not your father's" database. | 0 | neutral |
However, we note that in addition to reaching agreement with the Commissioner on valuation, the transaction still has numerous hurdles. | 2 | negative |
With the new power of distribution from its co-brand relationships with Citigroup and MBNA, American Express is poised potentially to double its U.S. card market share over the next three to four years. | 1 | positive |
STI reported very weak 4Q EPS loss of $1.08 and operating EPS of $1.10 loss driven by higher credit costs in the forms of higher net chargeoffs, large loan loss reserve build, and credit related expenses such as mortgage fraud and mortgage reinsurance reserve builds. | 2 | negative |
Good (meaning cheap) IPO pricing is important because negative institutional investor sentiment can quickly make institutional purchasers risk-averse, effectively cooling an equity underwriting cycle. | 2 | negative |
Year to date, TriCor has fallen short of our expectations. | 2 | negative |
3) Executing in the Equipment business and providing investors with a balanced assessment of progress will help investors judge through the cycle earnings power 4) The balance sheet is very inefficient. | 2 | negative |
2. Database Business Has Stabilized and Appears Poised for a Turn. | 1 | positive |
This decline reflects price reductions, adverse currency changes, a shift in mix from higher-margin products such as copper closures to lower-margin products such as transmission electronic products, and lower manufacturing volumes. | 2 | negative |
Silvelestat Looks Encouraging For Acute Respiratory Disorders. | 1 | positive |
Our key highlights of the presentation are summarized below. | 0 | neutral |
We continue to expect strong growth for this product line -- especially with the launch of Omnipak, a five-day, low-price treatment regimen that is intended to compete against Pfizer's (PFE, $38.47, rated Equal-weight by Jami Rubin, target $48, Industry view: Attractive) Zithromax. | 1 | positive |
range), reflecting increased higher-yielding earning assets from the MBNA acquisition. | 1 | positive |
We are reducing our estimates for 1999 and 2000 due to currency effects and a lower than expected economic rebound in Brazil. | 2 | negative |
Aerospace orders increased 8% on easy comparisons (down 23% last year) and strong military spending. | 1 | positive |
Lexapro (escitalopram) TRxs increased 11% sequentially to 1,353,000 in July. | 1 | positive |
The carrier still lost a net 137k lines (much better than our 236k estimate), with the bulk going to wireless substitution and some Voice over Internet Protocol (VoIP) losses. | 2 | negative |
Our previous price target was 21x our CY06 EPS estimate. | 0 | neutral |
This solution is aimed at alleviating bottlenecks in the last mile between the local loop and the Internet backbone. | 0 | neutral |
While it appears unlikely that a large number of additional rigs will be released in this market, the level of uncertainty has increased. | 2 | negative |
Our model still assumes 375 deliveries in 2002 (management guidance 380) and 285 deliveries in 2003 (vs. management's range of 275-300). | 0 | neutral |
2003 Cost Trends By Component Hospital Inpatient Outpatient Physician Pharmacy Utilization nearly flat -1% 3% less than 1% Price/Mix 8% 9% 3% 7% Total 8% 8% 6% 8%. | 0 | neutral |
Corporate & Investment Banking Corporate and Investment Banking includes a complete array of services in the areas of large corporate lending, commercial leasing, international operations, capital markets, loan syndication, merger and acquisition advisory services, and real estate capital markets, among others. | 0 | neutral |
Ultimately, there wasn't much new information for those who know the story well. | 0 | neutral |
additional recovery strategies if performance has deteriorated as we believe it to have. | 2 | negative |
The complaint alleged anti-competitive effects from the settlement of patent lawsuits between. | 0 | neutral |
Exhibit 3: Market Expectations Embedded in Current Share Price. | 0 | neutral |
Importantly, seismic indicates that the K2 and K2 North fields (which are expected to be tied into Marco Polo production facilities at mid-year) are less compartmentalized, and not expected to have the same issues as Marco Polo. | 0 | neutral |
Subsets and Splits
Balanced Sentiment Sampled Data
Collects a balanced sample of positive, negative, and neutral labeled samples for potential training or analysis, but provides limited insight beyond the selection process itself.