FinanceMTEB/FinSent · Datasets at Hugging Face

text stringlengths 47 679	label int64 0 2	label_text stringclasses 3 values
We believe that the company's core photography business will continue to be impacted by market share losses (to Fuji) and the migration into digital photography.	2	negative
Moreover, we believe that ETN has less benefit to reap from the supply chain improvement given that both inventory and working capital intensity is running lower than its peer group averages.	2	negative
Praxair is benefitting from a suite of unique component businesses that are gaining share and winning new customers.	1	positive
While UNE-P discounts in the Tier 1 territories (metropolitan) average 56.6%, Tier 3 (rural) discounts in Citizens's markets average 22.3%, allowing little room to earn a profit.	2	negative
From a capital structure perspective, we note HP has $2.28/share in net cash ($4.75/share of gross cash) as of October 2003 and offers investors a dividend yield of 1.3%.	0	neutral
We think that J&J remains a solid investment that that is immune to some of the risks facing its pharmaceutical brethren (i.e., key patent expirations, important products in the queue at the FDA).	1	positive
In addition, Gail Berman was recruited from the Fox Broadcast network as its new president.	0	neutral
Net income of $89.1 million was down 3.2% year over year.	2	negative
He will likely stress the price gap that exists in TIF's jewelry offering, between the very high- and lower-end merchandise, encouraging the company to expand its middle range offering.	0	neutral
Management expects total sales growth in the first quarter to be 13% to 14% compared to prior guidance of high single to low double-digit growth.	1	positive
Valuations: based on an average share price that year, (E): based on a share price of US$68.61 on 28 Jul 2004; Source: Company accounts, Thomson Financial, UBS estimates.	0	neutral
Following the recently announced GOM asset sale and the upcoming distribution of retained Tronox shares, KMG's successful transformation to a higher quality, pure-play E&P company will be complete.	1	positive
The stock has rallied from $11 to $17-18 in the last two months, and we believe that the company's prospects are correctly discounted at the stock's current price..	0	neutral
With $32.2 billion in assets, Memphis-based Union Planters is the largest bank holding company headquartered in Tennessee.	0	neutral
Management said it expects fleet mix to normalize somewhat for the rest of the year, to average low-20% for full-year 2004.	0	neutral
HIGHLIGHTS We estimate sellers listed 12.3 million items on eBay's core U.S. site during the most recent week (7/24/04-7/30/04), a 20% increase from the year-ago period.	1	positive
On the payment processing return side of EBPP, TransPoints model conforms with that of a card processor and will be paid on a per-hit basis.	0	neutral
We are projecting 1Q01 EPS of $0.10, compared with the consensus estimate.	0	neutral
We would note that in its press release today, Disney included Toy Story 3 in its animation production pipeline.	0	neutral
Included in this number are one-time gains of $0.06├»┬┐┬╜0.07 that also offset foreign exchange.	0	neutral
By the middle of 2000, Lexmark expects capacity to "catch up" with demand growth.	1	positive
Full-line store implementation of perpetual inventory will be fully anniversaried in 2Q of FY04, at which point apples to apples inventory comparisons will become easier, reducing some of what we continue to see as implementation risks.	1	positive
Furthermore, many enterprise customers effectively already own Office 12 under the terms of their volume licensing agreements, which may encourage them to upgrade to the Longhorn OS to take full advantage of their new Office.	0	neutral
As a reminder, as a result of the Getz acquisition, the carrying value of inventories purchased prior to the merger have been carried at a higher value than St.	0	neutral
Our price target goes up by $1 to $67 to reflect the time value of money.	1	positive
In addition, Moody's placed Enhance on negative credit watch in March 1999.	2	negative
Our net asset value (NAV) analysis supports our $30 price objective having produced an indication of value of $29.81 based on our 2006 estimates.	0	neutral
In addition, the non-General Motors revenues of this company are growing at a faster rate and the outlook for new contract signings is superb.	1	positive
Compounded the expense growth issues is the uncertainty in the capital markets.	2	negative
TMC-125 is a unique NNRTI (nonnucleoside reverse transcriptase inhibitor) compound, as it has shown to be active against HIV strains that show substantial resistance to one or more of the currently available NNRTIs.	0	neutral
This interaction is one of the co-stimulative signals required for the activation of T cells.	0	neutral
Based on a new build estimate of $900 per KW, Jefferies estimates that a developer would need a spark spread of roughly $30 per Mwh in order to earn an 11% return on equity.	0	neutral
Instead, FRE provided FV attributable to common equity return guidance, expected to be in the lowto-mid teens, and will eventually give add'l details on the impact to FV arising from changes in spreads.	0	neutral
We are lowering our 3Q04, 2004, and 2005 EPS estimates to $0.07, $0.36, and $0.44 from $0.08, $0.40, and $0.50, respectively, to reflect lower DART assumptions and lower than anticipated asset mgmt fees (stemming from weaker than estimated market performance)..	2	negative
Investment management represents about 15% of earnings.	0	neutral
The Company said it has provided results of the investigation to the U.S. Attorney's Office for Western Arkansas, as well as to unspecified "federal officials"--indicating these officials are conducting a further review of the situation.	0	neutral
R2 Technology announced a multi-year agreement with GE Healthcare, a division of the General Electric Company.	0	neutral
Renewal rights on $20M book $5.7 Exited personal lines in the UK to focus on commercial lines $3,700.0 Multiline insurer Not disc.	0	neutral
We also assume that all operating expenses--COGS, R&D, and MG&A--will remain unchanged, due to recent restructuring actions.	0	neutral
Primary Enterprise Systems Supplier Sep. 2003 Survey Mar. 2004 Survey Sep. 2004.	0	neutral
With that said, we believe FDC's management team is more optimistic regarding the future opportunities associated with the card business (growth and strategic value).	1	positive
The $3.37 mid-pt represents about +7.5% y/y growth.	0	neutral
In our opinion, its relative size to Apache coupled with the company's impressive exploitation prowess provide a high likelihood that the company will materially increase production and reduce per-unit operating expenses, implying our estimates could be conservative.	1	positive
├»┬┐┬╜ Bristol posted 3Q05 EPS (ex-charges) of $0.31, $0.03 below our estimate and $0.02 below the mean.	2	negative
As the U.S. entered into an expansionary economic period in the late 1990s, Textron's financial performance and valuation soared.	1	positive
Sales growth is being driven by expanding specialty gases markets such as bio-pharma, refineries, universities, and utilities.	1	positive
Acquisition of customers outside TXU's service territory would mitigate this impact, but probably at lower margins as rates would have to be offered at a discount..	1	positive
On the storage array side, we believe LSI's growth is being driven by the increasing adoption of SAS as the interconnect of choice for entry level storage solutions.	1	positive
REY is a direct competitor to ADP's Dealer Services segment and brings a very similar set of offerings to the market, namely --- a dealer management system, installation and maintenance of hardware solutions, software training and professional services.	0	neutral
Revised: Sale of Access Lines Positive; Portends More Industry Restructuring - February 23, 2004.	1	positive
We maintain our Neutral weighting on SouthTrust shares, as we believe the company's premium valuation already largely reflects its consistent, low-risk track record..	0	neutral
Gross margins from the top Tier One Indian IT services firms (including Cognizant) rose 70 basis points sequentially on average.	1	positive
Vaccine composition may change every year and short lead times leave little margin for error.	2	negative
The company does expect, however, to put out a press release in the next month to indicate whether or not they met their primary endpoint of a 40% reduction in Target Vessel Failure (TVF).	0	neutral
Dominant Position in Relational Database Software.	1	positive
Margin momentum in the Controls business, a more stable light vehicle production environment at the Big Three in the back half of the 2005 and gradually declining raw material prices are possible tailwinds as the company heads into its fiscal 2006..	1	positive
Total HAL adjusted revenue increased to $6 billion from $5.8 billion in 3Q2006 primarily due to firm international results from the Energy Services Group (ESG) which was more than offset by sluggish North American activity.	1	positive
Fixed income revenue improved by nearly $2 million during the quarter as some of FHN's depository customers took advantage of the rise in the long end of the yield curve to reposition their respective investment portfolios.	1	positive
Based on our new EPS estimate of $1.60 for 2002, we believe the stock is fairly valued in the low 30's.	0	neutral
Again for the case of 100% variable cost, the cost curve appears as a horizontal line, since per unit costs are not impacted by changing volumes.	0	neutral
markets in which Costco has been able to generate better than average unit volume within a six to eight mile trading area, rather than the previous 10-11 mile radius.	1	positive
During the past couple of years, Moodys has been widening the differential between holding company senior debt ratings and insurance operating company financial strength ratings.	0	neutral
├»┬┐┬╜ After McDonald's investor conference, we feel management is taking the appropriate status quo approach to managing the business as opposed to forcing any substantive or unexpected changes.	1	positive
For much of the $1.46B property fund debt maturing in 2009, PLD has already began talks with U.S. life insurance companies, German mortgage banks, and its Japanese lenders with respect to refinancing requirements.	0	neutral
STJ envisions continued rapid growth in the ICD market with total implants at 460,000 in 2010 (CAGR of just under 20%), with the replacement piece of the market growing from a 2005 trough of 13.2% to 19.3% in 2010.	1	positive
Balance Sheet Adjustments: Add cash and marketable Add cash proceeds securities 102 520 90 132 68 107 300 (413) $2,528 79.4 $32 of corporate expenses.	0	neutral
Meteorological and research satellite systems perform a wide variety of tasks and provide an objective view of planet Earth.	0	neutral
LTD management attributed Lerner' s poor performance to fashion misses and assortments that were too young (a recurring theme in the industry).	2	negative
As a result of our lower comp expectation, we have lowered our 4Q EPS estimate from $0.44 to $0.42 (in line with consensus).	2	negative
Significant catalysts for 2006 include: 1) the launch of liquid IVIG, 2) increased production capacity for Aralast, 3) the higher margins on 300├»┬┐┬╜350 million units of recombinant Factor VIII to be manufactured in-house, 4) expiration of FX hedging contracts, and 5) the completion of the company's restructuring initiatives..	1	positive
2. Insider Trading: All insider stock trades (will be posted on their websites).	0	neutral
Moreover, the January Class 8 truck net order rate suggests a continuation of recent trends, with monthly orders of 33,000 units amid seasonally weak sales levels.	2	negative
Current Price (5/17/04) $49.68 Projected 12-Month Target Price: $69.00 52-Week Range Dividend/Yield Book Value (04/04) Suitability Shares Out.	0	neutral
Why track the data? The implications of digital camera sales are of broad-ranging significance to Kodak.	0	neutral
As a rule, Lowe's has a higher expense ratio than Home Depot because of lower total sales and lower sales per foot, resulting in higher fixed costs as a percentage of sales.	2	negative
Share repurchase The company repurchased $74 million of its common stock in Q2 2006, which is less than we had anticipated.	2	negative
In the long-run, these activities should streamline IPG's disparate operations, help address the "material control weakness" and get IPG back to peer-like EBITDA margins.	1	positive
Management indicated it still expects to refile its 271 applications in Louisiana and Georgia in the next couple of weeks.	0	neutral
INTU effectively pre-announced the tax segment late in April when the company said it expected full year TurboTax revenue to be up 14-15% for the year.	1	positive
The non-cash impact on the 3Q would amount to a pre-tax charge of $63 million, or an estimated $0.24 per share, based on NEM's hedge position of 2.85 million oz.	0	neutral
Bristol launched Reyataz into the crowed HIV protease inhibitor market in mid 2003 and has positioned Reyataz as a best-in-class compound given its once daily dosing and favorable lipid profile.	0	neutral
On the last point, management looks to continue the expansion of structured finance, liquidation plays, and retailer services.	0	neutral
In both 1957 and 1968, there was a reassortant event that happened where an avian virus contributed genes to a human influenza.	0	neutral
announced that third quarter earnings would fall $0.03 below consensus expectations because of a shortfall at recently acquired AVE.	2	negative
Additionally, Tysabri is launching into a fiercely competitive MS marketplace, there are many execution risks.	2	negative
The stock is currently trading at an implied cap rate of 6.6%..	0	neutral
Given our limited checks, we would characterize these numbers as very significant and believe VERITAS continues to work with a solid pipeline of large and strategic deals, especially given the improving spending environment.	1	positive
The company noted on its 4Q and 1Q conference calls that flood claims processing was a notable source of incremental growth due to higher volumes..	1	positive
In Canada, for example, its properties are not scattered: the vast majority of its oil and gas assets are located in 9 fields.	0	neutral
The effective tax rate for the quarter was 35.9%, benefiting from the Deutsch acquisition treated under S-Corp status (vs. our estimate of 41.0%) versus 41.3% in the yearago quarter.	1	positive
Our DCF valuation supports a fair valuation in the $35-37 range..	0	neutral
** Since we expect FLC to report a loss in 2000, its target P/E multiple is not currently meaningful (NM).	2	negative
In our opinion, these secondary effects remain largely ignored.	0	neutral
Overall, nothing remarkably new came out during the meeting on the data front.	0	neutral
In return, the customer agrees to pay a finance charge disclosed in the credit agreement which must comply with state usury laws and the disclosure requirements of TILA.	0	neutral
Yahoo! has made significant investments to expand in Europe and Asia.	0	neutral
We believe the spread between 10 and 13 SEER product has historically been 20-30% but will shrink given the inevitable commoditization of the 13 SEER product, similar to 10 SEER today.	2	negative
The company expects Dealer to achieve approximately 12% revenue growth in FY05 (including acquisitions).	1	positive
Free cash flow is critical because it can be used to pay for acquisitions, pay down debt, or, later, to repurchase shares and pay dividends..	0	neutral
Our net asset value (NAV) for Inco, based on a DCF assessment is $20.46/share, slightly below the existing share price.	0	neutral

We believe that the company's core photography business will continue to be impacted by market share losses (to Fuji) and the migration into digital photography.

2

negative

Moreover, we believe that ETN has less benefit to reap from the supply chain improvement given that both inventory and working capital intensity is running lower than its peer group averages.

2

negative

Praxair is benefitting from a suite of unique component businesses that are gaining share and winning new customers.

1

positive

While UNE-P discounts in the Tier 1 territories (metropolitan) average 56.6%, Tier 3 (rural) discounts in Citizens's markets average 22.3%, allowing little room to earn a profit.

2

negative

From a capital structure perspective, we note HP has $2.28/share in net cash ($4.75/share of gross cash) as of October 2003 and offers investors a dividend yield of 1.3%.

0

neutral

We think that J&J remains a solid investment that that is immune to some of the risks facing its pharmaceutical brethren (i.e., key patent expirations, important products in the queue at the FDA).

1

positive

In addition, Gail Berman was recruited from the Fox Broadcast network as its new president.

0

neutral

Net income of $89.1 million was down 3.2% year over year.

2

negative

He will likely stress the price gap that exists in TIF's jewelry offering, between the very high- and lower-end merchandise, encouraging the company to expand its middle range offering.

0

neutral

Management expects total sales growth in the first quarter to be 13% to 14% compared to prior guidance of high single to low double-digit growth.

1

positive

Valuations: based on an average share price that year, (E): based on a share price of US$68.61 on 28 Jul 2004; Source: Company accounts, Thomson Financial, UBS estimates.

0

neutral

Following the recently announced GOM asset sale and the upcoming distribution of retained Tronox shares, KMG's successful transformation to a higher quality, pure-play E&P company will be complete.

1

positive

The stock has rallied from $11 to $17-18 in the last two months, and we believe that the company's prospects are correctly discounted at the stock's current price..

0

neutral

With $32.2 billion in assets, Memphis-based Union Planters is the largest bank holding company headquartered in Tennessee.

0

neutral

Management said it expects fleet mix to normalize somewhat for the rest of the year, to average low-20% for full-year 2004.

0

neutral

HIGHLIGHTS We estimate sellers listed 12.3 million items on eBay's core U.S. site during the most recent week (7/24/04-7/30/04), a 20% increase from the year-ago period.

1

positive

On the payment processing return side of EBPP, TransPoints model conforms with that of a card processor and will be paid on a per-hit basis.

0

neutral

We are projecting 1Q01 EPS of $0.10, compared with the consensus estimate.

0

neutral

We would note that in its press release today, Disney included Toy Story 3 in its animation production pipeline.

0

neutral

Included in this number are one-time gains of $0.06├»┬┐┬╜0.07 that also offset foreign exchange.

0

neutral

By the middle of 2000, Lexmark expects capacity to "catch up" with demand growth.

1

positive

Full-line store implementation of perpetual inventory will be fully anniversaried in 2Q of FY04, at which point apples to apples inventory comparisons will become easier, reducing some of what we continue to see as implementation risks.

1

positive

Furthermore, many enterprise customers effectively already own Office 12 under the terms of their volume licensing agreements, which may encourage them to upgrade to the Longhorn OS to take full advantage of their new Office.

0

neutral

As a reminder, as a result of the Getz acquisition, the carrying value of inventories purchased prior to the merger have been carried at a higher value than St.

0

neutral

Our price target goes up by $1 to $67 to reflect the time value of money.

1

positive

In addition, Moody's placed Enhance on negative credit watch in March 1999.

2

negative

Our net asset value (NAV) analysis supports our $30 price objective having produced an indication of value of $29.81 based on our 2006 estimates.

0

neutral

In addition, the non-General Motors revenues of this company are growing at a faster rate and the outlook for new contract signings is superb.

1

positive

Compounded the expense growth issues is the uncertainty in the capital markets.

2

negative

TMC-125 is a unique NNRTI (nonnucleoside reverse transcriptase inhibitor) compound, as it has shown to be active against HIV strains that show substantial resistance to one or more of the currently available NNRTIs.

0

neutral

This interaction is one of the co-stimulative signals required for the activation of T cells.

0

neutral

Based on a new build estimate of $900 per KW, Jefferies estimates that a developer would need a spark spread of roughly $30 per Mwh in order to earn an 11% return on equity.

0

neutral

Instead, FRE provided FV attributable to common equity return guidance, expected to be in the lowto-mid teens, and will eventually give add'l details on the impact to FV arising from changes in spreads.

0

neutral

We are lowering our 3Q04, 2004, and 2005 EPS estimates to $0.07, $0.36, and $0.44 from $0.08, $0.40, and $0.50, respectively, to reflect lower DART assumptions and lower than anticipated asset mgmt fees (stemming from weaker than estimated market performance)..

2

negative

Investment management represents about 15% of earnings.

0

neutral

The Company said it has provided results of the investigation to the U.S. Attorney's Office for Western Arkansas, as well as to unspecified "federal officials"--indicating these officials are conducting a further review of the situation.

0

neutral

R2 Technology announced a multi-year agreement with GE Healthcare, a division of the General Electric Company.

0

neutral

Renewal rights on $20M book $5.7 Exited personal lines in the UK to focus on commercial lines $3,700.0 Multiline insurer Not disc.

0

neutral

We also assume that all operating expenses--COGS, R&D, and MG&A--will remain unchanged, due to recent restructuring actions.

0

neutral

Primary Enterprise Systems Supplier Sep. 2003 Survey Mar. 2004 Survey Sep. 2004.

0

neutral

With that said, we believe FDC's management team is more optimistic regarding the future opportunities associated with the card business (growth and strategic value).

1

positive

The $3.37 mid-pt represents about +7.5% y/y growth.

0

neutral

In our opinion, its relative size to Apache coupled with the company's impressive exploitation prowess provide a high likelihood that the company will materially increase production and reduce per-unit operating expenses, implying our estimates could be conservative.

1

positive

├»┬┐┬╜ Bristol posted 3Q05 EPS (ex-charges) of $0.31, $0.03 below our estimate and $0.02 below the mean.

2

negative

As the U.S. entered into an expansionary economic period in the late 1990s, Textron's financial performance and valuation soared.

1

positive

Sales growth is being driven by expanding specialty gases markets such as bio-pharma, refineries, universities, and utilities.

1

positive

Acquisition of customers outside TXU's service territory would mitigate this impact, but probably at lower margins as rates would have to be offered at a discount..

1

positive

On the storage array side, we believe LSI's growth is being driven by the increasing adoption of SAS as the interconnect of choice for entry level storage solutions.

1

positive

REY is a direct competitor to ADP's Dealer Services segment and brings a very similar set of offerings to the market, namely --- a dealer management system, installation and maintenance of hardware solutions, software training and professional services.

0

neutral

Revised: Sale of Access Lines Positive; Portends More Industry Restructuring - February 23, 2004.

1

positive

We maintain our Neutral weighting on SouthTrust shares, as we believe the company's premium valuation already largely reflects its consistent, low-risk track record..

0

neutral

Gross margins from the top Tier One Indian IT services firms (including Cognizant) rose 70 basis points sequentially on average.

1

positive

Vaccine composition may change every year and short lead times leave little margin for error.

2

negative

The company does expect, however, to put out a press release in the next month to indicate whether or not they met their primary endpoint of a 40% reduction in Target Vessel Failure (TVF).

0

neutral

Dominant Position in Relational Database Software.

1

positive

Margin momentum in the Controls business, a more stable light vehicle production environment at the Big Three in the back half of the 2005 and gradually declining raw material prices are possible tailwinds as the company heads into its fiscal 2006..

1

positive

Total HAL adjusted revenue increased to $6 billion from $5.8 billion in 3Q2006 primarily due to firm international results from the Energy Services Group (ESG) which was more than offset by sluggish North American activity.

1

positive

Fixed income revenue improved by nearly $2 million during the quarter as some of FHN's depository customers took advantage of the rise in the long end of the yield curve to reposition their respective investment portfolios.

1

positive

Based on our new EPS estimate of $1.60 for 2002, we believe the stock is fairly valued in the low 30's.

0

neutral

Again for the case of 100% variable cost, the cost curve appears as a horizontal line, since per unit costs are not impacted by changing volumes.

0

neutral

markets in which Costco has been able to generate better than average unit volume within a six to eight mile trading area, rather than the previous 10-11 mile radius.

1

positive

During the past couple of years, Moodys has been widening the differential between holding company senior debt ratings and insurance operating company financial strength ratings.

0

neutral

├»┬┐┬╜ After McDonald's investor conference, we feel management is taking the appropriate status quo approach to managing the business as opposed to forcing any substantive or unexpected changes.

1

positive

For much of the $1.46B property fund debt maturing in 2009, PLD has already began talks with U.S. life insurance companies, German mortgage banks, and its Japanese lenders with respect to refinancing requirements.

0

neutral

STJ envisions continued rapid growth in the ICD market with total implants at 460,000 in 2010 (CAGR of just under 20%), with the replacement piece of the market growing from a 2005 trough of 13.2% to 19.3% in 2010.

1

positive

Balance Sheet Adjustments: Add cash and marketable Add cash proceeds securities 102 520 90 132 68 107 300 (413) $2,528 79.4 $32 of corporate expenses.

0

neutral

Meteorological and research satellite systems perform a wide variety of tasks and provide an objective view of planet Earth.

0

neutral

LTD management attributed Lerner' s poor performance to fashion misses and assortments that were too young (a recurring theme in the industry).

2

negative

As a result of our lower comp expectation, we have lowered our 4Q EPS estimate from $0.44 to $0.42 (in line with consensus).

2

negative

Significant catalysts for 2006 include: 1) the launch of liquid IVIG, 2) increased production capacity for Aralast, 3) the higher margins on 300├»┬┐┬╜350 million units of recombinant Factor VIII to be manufactured in-house, 4) expiration of FX hedging contracts, and 5) the completion of the company's restructuring initiatives..

1

positive

2. Insider Trading: All insider stock trades (will be posted on their websites).

0

neutral

Moreover, the January Class 8 truck net order rate suggests a continuation of recent trends, with monthly orders of 33,000 units amid seasonally weak sales levels.

2

negative

Current Price (5/17/04) $49.68 Projected 12-Month Target Price: $69.00 52-Week Range Dividend/Yield Book Value (04/04) Suitability Shares Out.

0

neutral

Why track the data? The implications of digital camera sales are of broad-ranging significance to Kodak.

0

neutral

As a rule, Lowe's has a higher expense ratio than Home Depot because of lower total sales and lower sales per foot, resulting in higher fixed costs as a percentage of sales.

2

negative

Share repurchase The company repurchased $74 million of its common stock in Q2 2006, which is less than we had anticipated.

2

negative

In the long-run, these activities should streamline IPG's disparate operations, help address the "material control weakness" and get IPG back to peer-like EBITDA margins.

1

positive

Management indicated it still expects to refile its 271 applications in Louisiana and Georgia in the next couple of weeks.

0

neutral

INTU effectively pre-announced the tax segment late in April when the company said it expected full year TurboTax revenue to be up 14-15% for the year.

1

positive

The non-cash impact on the 3Q would amount to a pre-tax charge of $63 million, or an estimated $0.24 per share, based on NEM's hedge position of 2.85 million oz.

0

neutral

Bristol launched Reyataz into the crowed HIV protease inhibitor market in mid 2003 and has positioned Reyataz as a best-in-class compound given its once daily dosing and favorable lipid profile.

0

neutral

On the last point, management looks to continue the expansion of structured finance, liquidation plays, and retailer services.

0

neutral

In both 1957 and 1968, there was a reassortant event that happened where an avian virus contributed genes to a human influenza.

0

neutral

announced that third quarter earnings would fall $0.03 below consensus expectations because of a shortfall at recently acquired AVE.

2

negative

Additionally, Tysabri is launching into a fiercely competitive MS marketplace, there are many execution risks.

2

negative

The stock is currently trading at an implied cap rate of 6.6%..

0

neutral

Given our limited checks, we would characterize these numbers as very significant and believe VERITAS continues to work with a solid pipeline of large and strategic deals, especially given the improving spending environment.

1

positive

The company noted on its 4Q and 1Q conference calls that flood claims processing was a notable source of incremental growth due to higher volumes..

1

positive

In Canada, for example, its properties are not scattered: the vast majority of its oil and gas assets are located in 9 fields.

0

neutral

The effective tax rate for the quarter was 35.9%, benefiting from the Deutsch acquisition treated under S-Corp status (vs. our estimate of 41.0%) versus 41.3% in the yearago quarter.

1

positive

Our DCF valuation supports a fair valuation in the $35-37 range..

0

neutral

** Since we expect FLC to report a loss in 2000, its target P/E multiple is not currently meaningful (NM).

2

negative

In our opinion, these secondary effects remain largely ignored.

0

neutral

Overall, nothing remarkably new came out during the meeting on the data front.

0

neutral

In return, the customer agrees to pay a finance charge disclosed in the credit agreement which must comply with state usury laws and the disclosure requirements of TILA.

0

neutral

Yahoo! has made significant investments to expand in Europe and Asia.

0

neutral

We believe the spread between 10 and 13 SEER product has historically been 20-30% but will shrink given the inevitable commoditization of the 13 SEER product, similar to 10 SEER today.

2

negative

The company expects Dealer to achieve approximately 12% revenue growth in FY05 (including acquisitions).

1

positive

Free cash flow is critical because it can be used to pay for acquisitions, pay down debt, or, later, to repurchase shares and pay dividends..

0

neutral

Our net asset value (NAV) for Inco, based on a DCF assessment is $20.46/share, slightly below the existing share price.

0

neutral