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Management reports that advance bookings are the strongest they have been in years..
1
positive
We have assumed that the U.S. economy expands by 3-3.5% over the next 12 months.
1
positive
Rather, it is all the ancillary products around payroll.
0
neutral
Why did Home Video operating income halve in 1999? Is it structural? We believe that demand issues are the primary problem in the home video business today, which implies that the new $600 million annual operating profit level is closer to normal than the average $1.2 billion achieved 1996-98.
2
negative
Key risks include a prolonged stagnation of the U.S. economy and a further deterioration of economic conditions in South America, specifically Argentina and Brazil..
2
negative
� The letter reiterates management's position that the best use of THC's free cash flow is for stock repurchases.
0
neutral
The staff of the Florida Public Service Commission (FPSC) recommended a $26 million or roughly a 10% reduction to Progress Energy Florida's (PEF) storm recovery request..
0
neutral
We are initiating coverageof Intel Corporationwith a l-1 investment rating becauseof the solid sales and earnings momentum we foresee in the first quarter of 1999 and continuing through 1999.
1
positive
We believe that BBBY benefited from accrual corrections (likely from shrink and vendor support) in the previous two quarters, which has clearly run its course (for more detailed analysis see Bernstein Research Call from July 27, 2005 "Expect Only Moderate EPS Upside Potential in F05; Reasonable Holding, But Maintain Ma...
1
positive
This would translate to U.S. revenues of approximately $263 million (on average), slightly below our estimate for the quarter of $286 million.
2
negative
Assuming that the company's existing OECD production base can be sustained at current levels, we do not expect a material change in upstream unit profitability in what will still account for the bulk of the company's portfolio in 2008.
0
neutral
However, because there is little publicly known about the technology behind Ilypsa's phosphate binder portfolio, we decided to do a little more digging in the two companies' respective patent portfolios..
0
neutral
The Banias processor is very sleek, focused on the light-notebook area, with this processor optimized for WLAN and more extended battery life.
1
positive
Over the past two years VRTS has positioned its software portfolio to take advantage of this trend, and its products have emerged as the de-facto standard for data management in the Microsoft NT and Sun Solar-isoperating system environments.
0
neutral
Controls' operating earnings down 22% as severance costs hurt margins.
2
negative
Excluding the one time expense, the company expects proforma EPS to remain unchanged at $0.10 per share, a 43% improvement over second quarter adjusted EPS of $0.07 per share.
1
positive
Accordingly, we believe the company has averted a ratings downgrade, at least in the near term..
0
neutral
TI, Samsung); 2) big exposure to Intel '06/'07 capex cuts; and 3) pressure on gross margins.
2
negative
And to that point, we only now view RAC as a complete product.
0
neutral
This portion of the business is of higher quality than the bankcard and management views this side of the business as essential and strategic to its electronic retail business.
0
neutral
We believe the cost of a new wireless subscriber, DTH subscriber etc.
0
neutral
Hurricane costs will be deferred & matched w/ insurance proceeds when received -- smoothing results.
0
neutral
Net margin including stock based compensation was 38.9% or 360 basis points lower than Linear's pro forma net margin of 42.5%.
0
neutral
We also that that the company can achieve further recovery in its growth rates, as IT related efforts to source candidates continue to pay off.
1
positive
The quarterly performance represents the tenth consecutive quarter of sequential revenue growth and operating margin improvements.
1
positive
Conclusion Deere's prospects probably are not getting any worse, but the share price has discounted most of a potential recovery.
0
neutral
We would like to highlight some of the most important points discussed by these speakers: Consumer film will likely not continue its double-digit volume growth through 2000 due in part to "pantry loading" and difficult comparisons.
2
negative
We believe these positives support our Outperform rating on its shares..
1
positive
Intel. Intel shares are currently trading at about 16x our 2006 EPS estimate (excluding stock option expense) of USD1.22 and at about 13x our 2007 EPS estimate of USD1.57.
0
neutral
First Union announced today further measures to lower the cost of.
1
positive
Trends actually worsened in 3Q02 and are unlikely to reverse in 4Q02.
2
negative
As such, Humana's 4Q results demonstrated to us that the company is in the early stages of reaping the benefits of its turnaround plan, which appears to be laying the groundwork for a step-up in results in January 2000 and a more dramatic recovery in January 2001.
1
positive
Our 2 to 3 year price target is $48 to $50 per share.
0
neutral
Even without an acquisition, JP is likely to produce 10% and 9% EPS growth in 1999 and 2000, respectively.
0
neutral
In October 1997, BFC issued $250MM of senior notes.
0
neutral
Price Target Calculation ECL shares trade at 25.2x our 2008 EPS estimate, in line with its 10-year average forward P/E of 25x but below its 32x peak in 1999, an attractive 1.7x PEG.
0
neutral
In addition to the 15 rigs that NBR intends to refurbish this year, Patterson-UTI (PTEN - $23.75, Buy) will refurbish an additional 23 rigs in 2005 while Grey Wolf (GW - $5.96, Buy) will likely add an additional 5-8 rigs as well.
0
neutral
Reported sales should grow 3% on flat internal sales.
1
positive
We believe the ongoing industry recovery has more legs.
1
positive
the most attractive franchises among the trust banks, given its sizable exposures to international custody (48% of total custody assets) and the high net worth space..
1
positive
Patients in the placebo arm who previously experienced a prior fracture were at increased risk for new vertebral and nonvertebral fractures, versus the Forteo arm, which demonstrated a reduction in risk.
0
neutral
In terms of extending market share, the company expects to 1) invest heavily in R&D, 2) leverage distribution and 3) leverage its financial breadth.
0
neutral
Fluor Corporation reported third quarter EPS of $0.52, in line with our estimate and within the guidance range.
0
neutral
We expect the company to increase earnings over the next five years at a rate of at least 15-20%.
1
positive
Also, they may involve the exchange of principal amounts at the beginning and end of the transaction.
0
neutral
QUALCOMM has four dual-mode (WCDMA/GSM) chips, two of which were launched in 2003, and the company is already thinking beyond WCDMA to HSDPA.
0
neutral
� All geographic oilifield segments reported strong.
1
positive
Specifically, we note that after stripping out the sale of servers and storage (which are included in Dell's operating margin but not in PSG's), we estimate that the actual delta between HP's PSG profitability and Dell PC business is 730 Bps.
0
neutral
The GE Harris Energy Systems joint venture, announced January 6, 1997, is likely to result in decreased revenues of about $40 million per year.
2
negative
When current, we also present Gartner's Magic Quadrant analysis for various SMS categories.
0
neutral
BCAG margins likely to hold - runway for improvements.
1
positive
The agreements with counterparties were signed on November 25 for an aggregate amount of $53.5 billion.
0
neutral
In addition, from a seasonal perspective, we would expect the month of October to be significantly stronger than the month of August.
1
positive
Management has not yet forecasted the investment, timing, or potential upside of expanding the midsized cities..
0
neutral
The company bought back 3 million shares in the quarter for $36.7 million.
0
neutral
Net finance revenues were $1.1 billion, up $64 million (6% YOY) and up $12 million (5% annl.) from 4Q04, reflecting growth in average worldwide lending balances and an increase in the yield on the portfolio.
1
positive
Capacity utilization in the region should approach 95% in 2000 (versus 75%80% in 1999) as exports increase to about 7.9 million units (from 7.6 million units in 1999) and unit sales within Latin America remain flat (at worst) with 1999 levels.
1
positive
Figure 8: ChevronTexaco looks fair value in today's peaking macro.
0
neutral
The Stock Is Undervalued Based on VBA There are three reasons for this conclusion: First, the market implied competitive advantage period (CAP) is only 5 years.
1
positive
Strong growth continues to benefit from the shift from older conventional antipsychotics to newer second-generation brands, the launch of 0.25mg and 0.5mg tablets in July 1999 for use in the elderly has also been a healthy driver.
1
positive
Paychex also has no debt, $1.23 billion in cash and investments, and pays a quarterly cash dividend of $0.21 (2.1% yield)..
0
neutral
Accordingly, we are removing any synthetic fuel benefit from our numbers and reducing our full year 2006 EPS estimate to $3.09.
2
negative
In Figure 2 below, we present a series of sensitivities to illustrate the robustness of Marcellus play economics under varying assumptions for natural gas pricing, leasehold costs, and royalty rates.
0
neutral
Pricing and benefit design mistakes have caused expected 2008 PDP margin to go from 45% and a $0.60 contribution to EPS to a negative pretax margin of 6% and a $0.75-0.80 drag on EPS.
2
negative
Last year, Analytics revenue increased 44% and produced $25M-$35M in license revenue per quarter, and our belief was that this revenue could offset some of the decline in its core CRM revenue.
1
positive
The strategic rationale for the small plastic tuck-in announced this morning is clear and compelling, in our view.
1
positive
Dec Q guidance better than anticipated, with guidance for rev/EPS of $2.672.69B/$0.16-0.17 compared to consensus of $2.68B/$0.16; Although we are adjusting revenues down slightly (1%), our EPS estimate goes from $0.16 to $0.17.
1
positive
It should be noted as well, that with continuous improvement and new flexible manufacturing, P&G could probably build 10% more diaper share without having to increase capacity..
1
positive
At its September 20, 2006 Investor Day, Intuit did not discuss FY07 pricing (for competitive reasons).
0
neutral
AEE is a well regarded company given its low-cost asset mix and interconnections into multiple grid regions.
1
positive
Capex is expected to be $4.5 billion for the full-year, which includes $500 million from the acquired systems..
0
neutral
This is the first quarter Scientific-Atlanta recognized revenues from Cablevision.
0
neutral
Rather, we focus our analysis of SFA to be a reflection of consumer and cable TV operator behavior.
0
neutral
September to December should hold the easiest comparables.
0
neutral
If we hold these metrics constant to year-end 2006, we get a fair value calculation of $47 per share; if there is only a modest 80 basis point reduction in the cost of equity (to 11.5% from the current estimated 12.3%), we get a $54 price target.
0
neutral
The company' recent acquisition of Morgan Stanley' global custody s s business should add meaningfully ro this scale business.
1
positive
The company is also geographically diverse with roughly half its sales and employees outside the U.S..
0
neutral
A longer-term issue is the ability to achieve internal portfolio growth within the branch network..
2
negative
Promotions are unchanged yr/yr: HDFS sponsored (retail) - $99 per month for 24 months on purchases of a new 2006, 2007, or 2008 Sportster 883 or 1200.
0
neutral
Historically LSI's price-tobook multiple has traded in a range of 0.6-5.0x.
0
neutral
We believe that it is highly likely that GENZ has the only Fabry drug on the US market in 2003.
0
neutral
Favorable prior year development rose in the first quarter, which could be a favorable indicator, although the company is significantly larger than it was a year ago, and we expect favorable development to grow along with the increased premium revenue.
1
positive
The more important data from this release are the trends and between better sales, consistent gross margin and very good expense leverage, those looked promising Domestic comparable store sales were a very strong 15.1%, beating our expectations of 10%ish.
1
positive
It should allow Aetna to gain membership by selectively pricing below some peers that are realizing a higher cost trend.
1
positive
Progress in April Reinforces Our View for H2 Recovery; Maintaining Estimates.
0
neutral
31 October 2007 Americas/United States Equity Research Life Insurance (Life and Health Insurance) / MARKET WEIGHT.
0
neutral
Gillette and Newell Rubbermaid entered into exclusive negotiations regarding the sale of Gillette's stationery products.
0
neutral
Unfortunately, thus far restructuring savings have been more than offset by end market weakness and by internal operating issues.
2
negative
The company expects to report its FQ4' financial results on July 6. Our estimates include 99 $204.6M in revenue associated with EPS of $0.35.
0
neutral
We recently spent a day with INTU CEO Steve Bennett.
0
neutral
Further, the premium natural and organic consumer, as defined by the FTC, isn't the traditional mass market customer trying to feed her family on a budget, but the educated and affluent population that doesn't need the FTC managing for the lower common denominator.
0
neutral
We believe the lower denominator that resulted from this reduction in equity also increased return ratios.
1
positive
Key equipment will be relocated from BHP's Project M demonstration plant in Port Kembla, Australia.
0
neutral
New Farm Bill has been enacted and sign-up now done.
0
neutral
Note: Historical numbers have been adjusted to account for the divestiture of ITS Avg.
0
neutral
In 2001, the group won 65% of its bids and hopes to maintain that success going forward..
1
positive
Figure 6: Dow Chemical Quarterly Segment Income Statement, 2006-2007E ($ in millions).
0
neutral
The 12400, with 16 slots and up to 15 line cards, brings Cisco in line with Juniper''s M160 in port density from a seven-foot rack.
0
neutral
#2 (5% share) Traditional janitorial products: detergents, cleaners, carpet care, furniture #1 JWP/DL (10-12% share) polishes, disinfectants, floorcare products, hand soaps and odor control.
0
neutral
Because of GILD's above-average growth, we are applying an above-average P/E multiple of 23x to our 2008 EPS estimate of $1.97 to derive our target price of $45.
1
positive