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While mgmt commentary seems uncommitted to investing in '08, we think 2/3 of core revs will be impacted in '08.
2
negative
TIF is currently trading at a lower P/E than other luxury brands/retailers which are not apparel based such as COH, LVMH and Gucci.
0
neutral
Based on a 15-year CAP, our value-based DCF analysis yields a value of $42.
0
neutral
Challenges with billing and other service related issues at Xerox, as well as all the adverse publicity about that vendor's long term viability, have contributed to the change of heart.
2
negative
High-end diamond sales still dominated, but silver sales rose slightly overall for the year.
1
positive
Bearish #2: Further deceleration in apparel sales.
2
negative
As far as the restructuring goes, we still see upside to the $120 million of Project Acceleration savings as the company accelerates facility closures, outsourcing and employee reductions.
1
positive
Product revenue increased 23.3% to $254.5m, above our estimate, due to a greater number of units sold.
1
positive
Finally, the company's capital ratios continue to build rapidly.
0
neutral
The is some possible upside to the classified arena.
1
positive
The pre-specified interim results relate to the study period when chemotherapy and Aranesp were administered, and specifically address the tumor response to chemotherapy at the time of surgery.
0
neutral
Delays or lack of efficacy data of products in clinical development.
2
negative
Strong 2Q results are widely anticipated an unlikely to represent a material catalyst, and scrutiny on metrics such as registrations, inventories, finance receivables, loss and delinquency ratios, and margins will continue to be intense.
2
negative
Furthermore, DHR has once again reiterated its comfort with 2000 and 2001 consensus EPS estimates of $2.22.
0
neutral
$100 million is expected from integrating staff in asset management and corporate administration.
0
neutral
The opportunity in PBMS is to accelerate the move from tactical outsourced copy centers/mail/fax/copy management to strategic sourcing and document/info management.
0
neutral
Aircraft Integration Systems (AIS) saw sales increase by 2.1% to $297 million, excluding a $20 million contract adjustment on the Boeing Business Jet (BBJ).
1
positive
Domino's ran promotions offering a large pizza and a free order of Cinnastix, Cheesybread, or Breadsticks for $9.99.
0
neutral
Japan is at last recovering after yrs of decline (a positive for margin too) and the US is still solid with easy compares ahead.
1
positive
Nearly 20% of this upside potential is from capital redeployment (+$0.07) with the balance from SG&A leverage (+$0.33).
1
positive
Key near term catalysts include continued positive news-flow and upcoming 3Q performance in Aircraft Engines, Power Generation, and Commercial Finance.
1
positive
KLA reported 4Q00(Dec) EPS of $0.57, ahead of the Street consensus estimate of $0.55, and well ahead of our estimate of $0.51.
1
positive
However, we remain concerned that with some displacement in the sales ranks, reps will draw down pipelines in order to ensure they get credit for that business in the March quarter.
2
negative
Business line reporting, as described in Tables 2 and 3, will increase to six business lines from four beginning in August with the second quarter 10Q filing.
0
neutral
In about six months the stock will be trading based on F2000 estimates, which we still expect will return to roughly the normal level of growth seen over the past 35 years.
0
neutral
However, we found a highly significant correlation between the stock price performance and the unadjusted forward EVA, which is calculated from balance sheet capital plus accumulated amortization, but does not add back the write-offs or unrecognized goodwill.
0
neutral
EPS guidance of $0.24-$0.26 was in-line with our previewed 3c upside to our $0.22 est, and above cons at $0.23.
1
positive
In addition, although Chiron is still reluctant to comment on the extent of operating synergies, we believe they will likely be significant and could drive further EPS gains.
1
positive
These premium refrigerators will offer consumers the benefits of built-in water filtration systems.
1
positive
We estimate other/corporate revenue of $703 million in the first quarter, up 35% year over year compared with 33.9% growth posted in the fourth quarter of 1998 and 15.8% year-over-year growth posted in the first quarter of 1998.
1
positive
regulatory front could improve SBC's cost structure and competitive positioning.
1
positive
On a sequential basis, North American revenue fell 12%, Western Hemisphere revenues declined 13%, and Eastern Hemisphere revenues declined 4%.
2
negative
Reported cash flow was $603 million, up 32% YoY, with a margin of 32%, compared to our $605 million estimate.
2
negative
Quarterto-date, we estimate that sellers listed 60.5 million items on eBay Germany, up 7% Y/Y but down 8% Q/Q.
0
neutral
Ciena recently announced its intention to acquire ONI Systems.
0
neutral
Our neutral stance is predicated on our belief that the benefit from these improving fundamentals is already reflected in RBD's current stock price.
1
positive
Production decreased 5%--Total equivalent production decreased 5% in the second quarter of 2002 over the prior year quarter.
2
negative
While a material portion of this generation is contracted, earnings will continue to be impacted by the effect of wholesale power prices on the non-contracted portion of the generation portfolio, especially in Texas and the Northeast.
0
neutral
Q4 and FY05 results were presented on a reported and pro forma basis, both adjusted and non-adjusted for non-recurring items.
0
neutral
Cintas seems likely to continue to lead the consolidation of this business as well, and we think that the physical integration of the Omni acquisition remains on track.
1
positive
Provides the tackiness that makes adhesives work and coats fibers to provide strength.
0
neutral
He is currently responsible for nationwide commercial operations and has been in executive vice president positions with the company since 1981.
0
neutral
This corresponds to group EBIT margins of 5.6% in 2007, and 6.3% in 2008.
0
neutral
Other potential launches include Allegra D, OrthoTricyclen Lo and Yasmin - all of which remain distinct possibilities - and which we already include contributions in 2008.
0
neutral
We have made an upward adjustment to our profit forecast for Ashland's 38% interest in MAP, and now expect pretax operating earnings of roughly $80 million compared to our earlier outlook of $68 million.
1
positive
Furthermore, prices should continue to recover through at least 2001..
1
positive
This marks the first quarter in a while where most of the metrics more closely tracked our model.
0
neutral
No indication was given as to the size of the alliance.
0
neutral
We reiterate our $55 fair value estimate for Lilly shares..
0
neutral
Summary x Conseco Inc. will report fourth quarter and full year 2004 EPS on Monday, March 14th, 2005, with a conference call scheduled for 10:00AM the same day.
0
neutral
Setting logical department-todepartment adjacencies, generally keeping fixture heights to five feet or less (so as not to obstruct sight lines) and illuminating stores with bright lighting, Kohl's provides shopping carts and central check-out simply because shoppers say "yes" to them.
1
positive
Internationally, we forecast procedure growth in the low to mid-single digits, also associated with steady annual price declines.
1
positive
As we mentioned, Nora has 1,450 producing wells, and RRC sees 2,500+ additional gross locations on current spacing (60 acres), with up to 6,000 locations with 30acre downspacing.
0
neutral
This target is 29x our September 2006 earnings estimate of $1.94.
0
neutral
Month-to-month, Kodak saw a further 80 basis point loss overall, though recouping 40 basis points in share for the SUC category.
2
negative
Same store net patient revenue increased 7.9%, at the upper end of the expected range of 58%.
1
positive
We believe amortization of this asset should be added to operating earnings, as it is both a noncash charge and tax deductible.
0
neutral
In addition, conversations with industry executives have given confirmation to our belief.
0
neutral
Comcast's management team takes pride in being superb operators and no doubt looks for the opportunity to improve the operational performance of AT&T Broadband as a major driver of value creation for both Comcast shareholders and those AT&T shareholders who remain shareholders of the combined companies.
1
positive
VTSS has averaged 67% incremental operating margin since December 1998 (excluding negative incremental operating margin quarters).
0
neutral
We see investors downside risk as being somewhat protected as Yum!'s earnings are fairly predictable and the stock appears to have discounted the current risks from the bird flu.
1
positive
If AT&T did opt for DIRECTV, it could be a major issue for EchoStar as that provider would be left with a major RBOC partner and vulnerable in the former SBC/EchoStar exclusive areas.
2
negative
� UNM reported $0.55 for 3Q01, including $0.06 in claims from Sept.
0
neutral
Following the 3Q00 EPS release, we inched up our 2000 and 2001 estimates to account for the $0.01 upside seen in the quarter..
1
positive
The affiliate business accounted for roughly 39% of marketing services revenues in 1Q08.
0
neutral
Considine has served as Senior Executive Vice President and Chief Financial Officer at Becton since 2000.
0
neutral
We also believe that Tesco's performance strengthened over the summer from +4.5% in Q1..
1
positive
Our forecast assumes sales 1QFY05 (June-end) of $55 million and $300 million for the full year (assuming ends the year with ~34% New RX Alzheimer's market share).
0
neutral
Keith Dixon--President and CEO of CIGNA Behavioral Health No biographical information was available on CIGNA's website.
0
neutral
For instance, within our models we are forecasting a revenue growth for 4Q 2002 of 15% at $3.99 billion.
1
positive
Classified was in-line with our 4Q expectations at up 4.9%.
0
neutral
The $100 million deal to provide commercialization services to Scios for its Natrecor launch is a sizable win in the CSO market..
1
positive
Recall Summit was a collection of detailed programs designed to foster coordination among Staples' merchandise, marketing, distribution and store operation organizations, in addition to its vendors.
0
neutral
We also note that this compares to the current peer group average of 1.0 times (or 0.8 excluding NVR).
0
neutral
Our $66 price target is based largely on our residual income analysis.
0
neutral
It represents a modest discount to most peers and a premium to few which reflects what we see as the risks in FirstEnergy's fundamentals.
2
negative
Canadian natural gas production is expected to increase in the third quarter and again in the fourth quarter when the new wells are put on sales.
1
positive
Orders were lower than expectation at $273M with cancellations of $44M..
1
positive
Sprint should provide details on its planned $1 billion in cost savings at the December analyst day.
0
neutral
The Consumer segment is vertically integrated from paint manufacture to the retail shelf.
0
neutral
As a point of comparison, competitor CA has publicly commented that it sees this market as a (1%)-1% grower for the foreseeable future.
0
neutral
Medicare+Choice is a federal program for those over 65 years old, or disabled, that provides Medicare Part A and B coverage.
0
neutral
We estimate if the tax rate remained at 38% in 2Q05 EPS would have been $1.18 compared to the $1.16 that was reported.
0
neutral
We attribute the better than expected margin improvement to continued cost rationalization and modest y/y increases in termination fees.
1
positive
Included with these descriptions we presented known data and what we believe are reasonable outcome assumptions and asked our survey consultants to estimate future treatment utilization of Avastin, Erbitux and Panitumumab.
0
neutral
Although the company believes that volatility should continue, volatility could be reduced somewhat in future periods as certain derivatives may be "re-designated" as qualifying hedge relationships (marked-to-market through OCI) and the effect of trading securities ($64 billion at YE 2002) should be less in future periods.
1
positive
Citigroup is also taking another $3.3 billion after tax charge (for a total of $4.95 billion after tax) in the second quarter to build up its legal reserves for ongoing litigation related to Enron and other outstanding legal issues.
2
negative
VMware Momentum Continues - $232M; up 101% y/y (vs. +94% y/y estimate; vs. +86% y/y in the prior quarter).
1
positive
company will rollout a loyalty card program to one additional market late this year with more markets to follow in 2002.
0
neutral
Analysis: We note that in both Mexico and Japan, KO bottlers have recently announced merger plans.
0
neutral
IFF repurchased 240,000 shares in 2Q01, a significant reduction over the 1.6 million repurchased in 1Q01.
2
negative
The possible outcomes in this scenario include: 1) Baker may exercise its option to increase the share ratio to value Western shares at $91.80; 2) Baker may attempt to back out of the merger agreement; and 3) in that scenario, Halliburton would appear to.
0
neutral
This was relatively steady compared with 1Q02's $4.2 million, and compares with $3.3 million a year ago.
0
neutral
As expected, the company said it would restate its financial statements for stock options expenses for the periods from 2002 through 2005.
0
neutral
Approximately half of the decline is due to discontinued operations (wholesale long distance and coin) from last year.
0
neutral
Operating income increased 6.0% in the quarter, or 3.7% excluding currency.
1
positive
This segment also includes wire and cable purchased by TEL from other vendors for packaging with its own connectors etc., and hence represents a pass-through cost.
0
neutral
Instead, 3M's senior management are working very hard to make sure they are able to manage through the changing factors that are likely to favorably impact 3M's sales, even if on a tentative basis.
1
positive
Over the long-term, we remain confident in Abbott's ability to increase earnings at an above-average rate (compared with other pharma companies).
1
positive
The company offers personal and enterprise products and services included in seven business units: Client, Server and Tools, Information Worker, Microsoft Business Solutions (MBS), Microsoft Network (MSN), Home and Entertainment, and Mobile and Embedded Devices.
0
neutral