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We have recently seen some press reports from the union suggesting UPS and the Central States Fund have reached an agreement on a potential UPS withdrawal from the plan. | 2 | negative |
We believe the shares could trade at roughly 16x our 2009E EPS of $7.20. | 0 | neutral |
The company's hedging strategy has backfired in light of the current record domestic natural gas prices. | 2 | negative |
Service level agreements (SLAs) and quality of service (QoS) agreements raise the bar for information requirements about network performance. | 0 | neutral |
Although we believe the stock is expensive in the near term, we continue to believe the stock will move higher as we approach the next-generation hardware cycle. | 1 | positive |
Summary of Operations and Financial Position, FY 1995-2002E. | 0 | neutral |
Corn Processing We believe ADM's corn processing margins are improving. | 1 | positive |
In order to drive productivity improvement, CIGNA is implementing a restructuring program and expects to record a charge in the first quarter of 2004. | 1 | positive |
Adding to Kodak's woes, competition from Fuji Film has stepped up dramatically, badly hitting Kodak's core film and photographic paper businesses. | 2 | negative |
Core carbon steel facilities are located in Burns Harbor, IN, Sparrows Point, MD and Steelton, PA. | 0 | neutral |
BK's valuation has improved dramatically since the merger with Mellon was announced last December, and relative to pure-play asset managers, BK has closed the valuation gap: at 17.0x next twelve months earnings, BK's forward P/E is in line with the asset management industry (Baseline data). | 1 | positive |
We downgrade PX shares from Overweight to Neutral. | 2 | negative |
We would highlight the stay of the ITC's partial exclusion order pending appeal and a ruling that tentatively vacates the finding of willful infringement in the in the BRCM/QCOM case in Santa Ana, both of which have reduced the likelihood of an injunction against QUALCOMM's chipset business being enforced near-term. | 1 | positive |
Price target to $81 from $87 -- but reiterating SO rating. | 0 | neutral |
August units in the combined reseller channel (commercial resellers, retailers, eCommerce) declined 7% Y/Y. | 2 | negative |
This business primarily provides lease/loan services for manufacturers but GE is expanding into inventory financing. | 0 | neutral |
Initial markups were flat with last year in July and Gap continued to sell less merchandise at markdown than last year and to make a higher margin on the marked down goods it sold. | 1 | positive |
*** Including a restructuring charge of $56 million of which $48 million was in COGS, $7 million was in SG&A and $1 million was in R&D. | 0 | neutral |
Growth Drivers/ Organic production growth is among the highest for large-cap. | 1 | positive |
We feel the company's strong cash flow and high returns, and potential for sustained double-digit earnings growth warrant such a premium. | 1 | positive |
Oilfield Services / Energy RIG - O - M. Rating and Price Target History for: Transocean, Inc. (RIG) as of 06-09-2008. | 0 | neutral |
CIT is seeing some weakness in the equipment finance segment. | 2 | negative |
Bondholders should not have been surprised, therefore, by Entergy's $1.5 billion share buyback announcement as well as its recent 20% dividend increase, which we expect will have a negative impact on leverage. | 2 | negative |
Residential remains strong with some notable orders for small residential construction equipment such as concrete pumps.. | 1 | positive |
For example, steep declines in equity capital markets (equity-price risk) generally hurt investment management (lower asset values hurt commissions), investment banking (less deal activity), and venture capital (more unrealized losses on investments and fewer exit opportunities). | 2 | negative |
We maintain our Overweight rating and $35 price target on the DIS shares. | 1 | positive |
Risks that may impede the achievement of our price target include: If economic conditions were to deteriorate, thereby slowing consumer spending, our sales growth assumptions might not materialize and merchandise markdowns and SG&A pressure could increase, placing at risk our earnings estimates and our price target. | 2 | negative |
Our 2005 estimate is $2.08 EPS on $486 million net income, which is $0.09 above the FirstCall Mean EPS estimate of $1.99. | 1 | positive |
This may be partially mitigated by an ease in competitive pressures from the fullprice channel over time. | 0 | neutral |
These estimates compare to our previous assumptions of $2.18 billion in revenues, $1.07 billion in EBITDA and $2.10 in EPS for 2002, and $2.31 billion in revenues, $1.13 billion in EBITDA and $2.32 in EPS for 2003. | 0 | neutral |
December 10, 2004 Information Technology Wireless Equipment. | 0 | neutral |
With an increasing percentage of revenue coming from bricks (38% in 4Q02) and an increasing percentage of design wins coming from di/dt products (44% in Q4), we believe new higher margin products will continue to drive revenues. | 1 | positive |
Our valuation does not take into account any greatly expanded presence in active optical components. | 0 | neutral |
On October 18th, the Ecuadorian government, proposed to move to a risk-based fiscal taxation program on IOC's in the nation. | 0 | neutral |
Current price reflects a low 11% EPS growth rate. | 2 | negative |
We continue to believe that the company is currently undervalued. | 1 | positive |
UA Independent: In our view, sales at United American Independent (which generates roughly 20% of health production) will continue to suffer from low demand for Medicare Supplemental policies (the primary product sold through the channel). | 2 | negative |
For the Financial segment, we have moderated Y/Y revenue growth expectations on decelerating license revenue sales. | 2 | negative |
We believe it is necessary to back out PepsiCo Foods' stock option expense as the comparable food companies we used in our analysis do not yet expense stock options and, therefore, our calculated implied multiples do not reflect option expensing. | 0 | neutral |
Our target price values the company at 5.2x our 2009 EBITDA estimate or 8.1x, excluding the $350 million in hidden assets.. | 0 | neutral |
Note that our expectation for price declines through the year (decline from beginning to end of year) of 55% is a lower decline compared to our prior estimate of 60%. | 2 | negative |
Eaton is a $9.8 billion global industrial manufacturer of fluid power systems, electrical power distribution and control equipment, automotive engine air management, and truck transmissions and clutches. | 0 | neutral |
Finally, the product received approval for a ninth indication that includes complicated skin and soft tissue infections.. | 2 | negative |
Last night after the close, McDonald's reported 4.9% December SSS growth, outpacing our 4% expectation. | 1 | positive |
CONCLUSION We believe that given current valuations and company fundamentals, Halliburton offers a compelling investment. | 1 | positive |
Fab utilization rates are currently at about 50%, and the company believes it has the capacity to increase its shipping rates by about three times current levels. | 1 | positive |
Our ratings for KEY continue to reflect its conservative approach to credit risk management, its strong geographic and business line diversity, and our belief that KEY has a competitive advantage in the form of a well developed customer data base marketing approach. | 1 | positive |
In light of the recent share price depreciation and our continued positive outlook for the nickel market we are raising our ranking on Inco to Sector Perform-Average Risk from Underperform- Average Risk. | 1 | positive |
On the positive side, deposit fees were well above expectations and loan growth was stronger than expected (although the largest driver was the 40% y/y increase in first mortgages). | 1 | positive |
While still early on, this product should become very big as wireless data transport standards sort themselves out in the next year or so. | 0 | neutral |
Other opportunities lie within the annuity line, by expanding the current structured settlement and immediate annuity products. | 1 | positive |
Tim Hortons breakfast food units from Canada are expanding in the U.S. At the end of 1999, there were 982 company-owned domestic Wendy' units and 3,886 domestic franchised restaurants. | 0 | neutral |
Selling, general and administrative expenses as a percentage of sales were 28.4% versus 26.3% reflecting higher levels of advertising and promotions. | 2 | negative |
This means that we have left $638mm (see Exhibit 2), or 39% of the $1.6bb free cash total, unused in our current model, which would add about another 36-cents to EPS over and above our $8.22 2005 estimate if it were all used for repurchase.. | 1 | positive |
Domestic sales grew 8.5% to $330 million, $2 million higher than our expectations. | 1 | positive |
Regarding management's previous comments, Allergan stated it anticipates this division will decline to approximately 10-12% of Allergan's total revenues over the next three to five years from 21% today. | 2 | negative |
Brokerage Services (21% of 2000E revenue) should post a 6% top-line gain, with internal. | 1 | positive |
This is an upward trend from the previous two quarters in which C.R. | 1 | positive |
We are anticipating gross margins to be down 100 basis points in the fourth quarter to 44.2% (in line with guidance), and believe gross margin pressures will be a primary focus of the call. | 2 | negative |
This relatively modest impact is based on: (1) raw material sourcing issues which could stifle generics; (2) the fact that only a limited number of generic manufacturers can make an injectable chemotherapeutic; and (3) Bristol's tight and long-standing relationship with the oncology community. | 0 | neutral |
growth and profitability are likely to push the relative P/E valuation ahead of historical levels.. | 1 | positive |
Munder reclassified as discontinued operations - model not restated Loss on Mexican bank charter ~ $0.03, so core ~ $1.23. | 0 | neutral |
o Production for 1999 is expected to exceed 3 million ounces at a cash cost of less than $165 per ounce and total costs of $235 per ounce. | 1 | positive |
Valuation is attractive at 13x our new '06 estimate - in-line with peers despite strong fundamentals and superior growth. | 1 | positive |
Biogen's worldwide sales and marketing infrastructure was an important piece of our investment thesis and a major contributor to our bullish outlook for Amevive. | 1 | positive |
� Operating profit grew 65% to $89 million from manufacturing cost savings, lower overhead expense and lower promotional spending; the margin expanded by 700 bps to 19.5%. | 1 | positive |
According to the Motorcycle Industry Council, year-to-date June 2003 U.S. retail registrations for the overall motorcycle market are up 3.7%, with the On-Highway segment up 0.9%. | 1 | positive |
In fact, only two of the company's nine business units--the phosphates and fertilizers unit and the coal unit--posted revenue declines, of 2.2% and 3.5%, respectively. | 2 | negative |
By comparison, the funds attracted net inflows of $818 million in the prior quarter and inflows of $50 million a year earlier. | 0 | neutral |
We continue to recommend ExxonMobil Corporation (XOM) as a Sector Performer, and are maintaining our US$37.50 per share target price. | 1 | positive |
Consumer loan growth was weak because the company is exiting the auto leasing business. | 2 | negative |
On the call, management indicated it believes Ground can continue to show double -digit operating margins in the foreseeable future, and pegged the operating margin target of Express at 10% longer term. | 1 | positive |
Though YRI includes operations in 60 countries from the four corners of the globe, four countries make up 65% of the profits: the U.K. (34% of YRI profits), Australia, Korea (Pizza Hut) and Mexico. The two biggest--the U.K. and Australia--are also the most mature markets. | 0 | neutral |
The graphic below helps to define the size of the available market and the drivers. | 0 | neutral |
Valuation: We are maintaining our DCF-based 12-month price target of $40.00, which assumes 3-5 year operating profit growth of 15%.. | 0 | neutral |
We have been pleased to see Burlington hit the seller's market not only to reduce debt but also shed high cost operations with marginal returns-like the Gulf of Mexico-to improve costs and magnify leverage to vastly improved natural gas markets. | 1 | positive |
Guidance--PX guided up for both 3Q and the full year. | 1 | positive |
Symbol: Exchange: Recent Price: MERQ Nasdaq $38.42 Dividend: Yield: Price Objective: $0.00 0.0%. | 0 | neutral |
We expect investors to take a somewhat cautious approach until more visibility can be added to the informatics opportunity (which should occur when management hosts an investor conference after the Envoy and Pharmaceutical Marketing Services deals are closed in late March or early April). | 2 | negative |
Given our revised estimates for Funds Available for Distribution (FAD) of $2.87 per share, we believe the company is likely to cut its dividend by 15%-20% at some point during 2003. | 2 | negative |
Freeport-McMoRan claims that its reduction of output was completely voluntary, and will last only as long as the investigation surrounding the Wanagon Lake landslide. | 0 | neutral |
Brands and key licenses include Furby, Playskool, Star Wars, Teletubbies, Transformers, Monopoly, Scrabble and Nerf. | 0 | neutral |
Motion Control, in particular, has received a good bit of publicity recently for its role in the design of the Segway Human Transporter, previously known as "Ginger." The company is currently funding 18 new breakthrough products across all of its business segments.. | 1 | positive |
Inventories ended the quarter up 27% to $1.034 billion, driven mainly by higher raw material and work-in-process inventories as a result of internal manufacturing and rough-diamond sourcing, and to a lesser extent, due to higher finished good levels for new stores, new products, and the translation effect from a weaker... | 2 | negative |
This makes us wonder a number of things: Why are Coke bottlers, beyond FEMSA, looking to possibly purchase brewing assets? Why is SABMiller insisting on the merits of integrating beer and soft drinks in Central America, and passing up Coke as a potential buyer of SABMiller's juice businesses in Colombia, in favor of a ... | 2 | negative |
The Timing of FluMist Revenue Recognition As was the case in the third quarter, MedImmune may not be able to recognize the majority of FluMist related revenue in the current quarter. | 2 | negative |
Corning's semiconductor optics products are manufactured in New York. | 0 | neutral |
We encourage accounts to supplement positions at or below $25. | 0 | neutral |
We want to see TEK use its cash in an accretive way to further penetrate Comms Test.. | 0 | neutral |
These data points are running well ahead of management's guidance of modest improvement in credit quality in 2004, especially given the expectation that the bulk of receivables seasoning in the year is expected to be centered in superprime accounts, which should have a substantially lower impact on charge-offs.. | 1 | positive |
Gemzar was up a robust 49% in the quarter versus 2Q00, to $160.9 million in worldwide sales, and currently 25% of its use is as first line therapy (vs. 17% in 2Q00). | 1 | positive |
The implicit values of just the blade and razor and batteries businesses, in our opinion, are alone worth $30-$35, roughly equal to the current stock price. | 0 | neutral |
The purchasing pattern in the digital world is much different. | 0 | neutral |
The results of Sprint's Global Markets Group bear the scars of this competitive onslaught. | 2 | negative |
Adjusted to exclude both catastrophe losses and additions to reserves for earlier losses, the combined ratio declined from 87.8% to 86.7%.. | 0 | neutral |
The company also operates the 10th largest insurance agency in the country. | 0 | neutral |
Franklin has a strong long-term performance track record, improving near term performance and significant expense and balance sheet flexibility. | 1 | positive |
If on the block, it's possible that the brand and the brewery could be sold to separate buyers. | 0 | neutral |
Compelling Price -- 70% of ASLAC Book Value The transaction price appears attractive at roughly 70% of ASLAC's $1.76 billion pro forma book value and Prudential's fair value assumption of $1.73 billion, both as of December 31, 2002 (details are available upon request). | 1 | positive |
By combining with Chase Manhattan, the new firm will be able to offer a full array of products throughout a company's entire life cycle. | 1 | positive |
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.