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It appears that CVS is counting upon this FTC risk issue and urging shareholders to approve its offer based on the facts that regulatory approval has already been obtained and the companies would be able to close the merger during the first quarter of 2007.
0
neutral
Still, management believes that efficiency will improve as deposit spreads expand as rates continue to rise and as the build-out of the New Jersey branch franchise progresses.
1
positive
This is especially true, given that worldwide automotive.
0
neutral
The company lowered the outlook for its Semiconductor segment in Q3, now actually expecting a sequential decline in revenues for this segment.
2
negative
The functional organization allows affiliate banks to transfer its volatile mortgage activities to the centralized mortgage company, thus smoothing out the affiliates' earnings results.
0
neutral
Baxter's Bioscience business remains a margin expansion story driven by higher sales volumes helped by improving manufacturing yields and positive plasma protein pricing.
1
positive
All premium households require some form of a converter to decrypt the signal scrambling used to provide conditional access.
0
neutral
Risks: Our $25 target price for TSO faces regional risk: TSO is very levered to West Coast refining margins and other niche areas which are more difficult to track.
2
negative
We are reiterating our Buy rating on the stock with a $90 price target.
1
positive
Reformulation of Pepsi One to be launched in early 2005.
0
neutral
The quarter was highlighted by margin expansion at Davison and Construction Products, strong catalyst results, and positive news on asbestos.
1
positive
There is also the possibility that the regulatory process drags completion into 2008, which could further lengthen the time before shareholders would receive their funds.
2
negative
WAT's HPLC segment saw double-digit growth chiefly driven by revitalized Pharma endmarkets across geographies, growth that was driven by instruments, consumables and services fairly evenly.
1
positive
Our target also equates 15.1x our midcycle EPS estimate of $2.58 and 10x our peak-cycle EPS estimate of $3.91.
0
neutral
Again, there remains some risk of slight earnings dilution for fiscal 2008.
2
negative
Not surprisingly, it single-handedly has been responsible for the turnaround in MDT's vascular business.
1
positive
Levaquin is currently marketed for seven indications and has been filed for community acquired pneumonia involving penicillin-resistant Streptococcus pneuminiae, which is the most common respiratory pathogen.
0
neutral
A reasonable potential for both a cyclical recovery and secular growth exists.
1
positive
Over the last four decades, there has been little disruption to the steady growth in available-seat-miles/kilometers.
1
positive
ENDEAVOR III is a randomized trial evaluating the safety and efficacy of the Endeavor drug-eluting stent versus Johnson & Johnson's Cypher.
0
neutral
A delay in IP video or rollouts of broadband capacity expansions would delay some of the growth we model.
2
negative
If there was a negative in the number, margins for natural gas declined from $0.063/MMBtu to $0.046/MMBtu.
2
negative
We expect Equity Residential's FAD payout ratio to be 112% in 2004 and 99% in 2005.
0
neutral
Our 12-month price target of $82 assumes no breakup and a P/E discount at the low end of MO's 10year range.
0
neutral
In 2003 and 2004, Carnival's expected capacity gains are 17%, partly reflecting some of the ship delivery delays implemented in 2002.
2
negative
We maintain 2005E cash EPS of $2.24 and our 2006E cash EPS estimate of $2.72, representing a more normalized run rate for the company.
0
neutral
This was a tad lower (about 1%) than expectations due to currency and the recall..
2
negative
Cisco common stock worth approximately $157 million was exchanged for all outstanding shares and options of Clarity not already owned by Cisco. Cisco expected to take a one-time charge against after-tax earnings of between $0.06 to $0.09 per share for purchased in-process research and development expenses.
0
neutral
Revenue grew 3.2% year-over-year in the Americas region, which represented 56.3% of revenue versus 59.0% in the year ago quarter..
1
positive
In developed countries, portable power is used in applications such as standbypower and peak load shaving.
0
neutral
A highly promotional environment held Japan sales back.
2
negative
The two principals are supported by a team of four analysts (Stanford University engineers) based in Menlo Park, CA.
0
neutral
The conference call is available via Webcast at www.mercuryinteractive.com.
0
neutral
We believe Dow Corning's 63% ownership stake in Hemlock is worth roughly $9bn.
0
neutral
Burgstaler highlighted new product innovations in the Healthcare, Consumer and Office and ElectroCommunications businesses.
0
neutral
Exhibit 7. HST Earnings Model Continued ($ in millions, except per share data).
0
neutral
Premium is too High in Front of a Transition Year.
2
negative
Valuation & Recommendation Sun has fallen 16% from our December 1st update and is now valued at 1.4 times sales.
0
neutral
As such, U.S. rental fleet utilization fell 20 basis points YoY in the third quarter to 73.0%, after falling 250 basis points YoY in the second quarter of 2007 to 70.6%.
2
negative
enhance UnitedHealth's ability to leverage future SG&A efficiencies to contribute to margin expansion, hence additional earnings power.
1
positive
At current prices the shares are in the mid-to-upper level of his range.
0
neutral
With the steep and sustained increase in oil prices, it now looks as though Kimberly-Clark will lose expected tax benefits in 2006 and 2007 from a synthetic fuel partnership.
2
negative
In addition, as outlined in Exhibit 5, Keebler's retail sales growth and market share in the cookie category has declined modestly during last year, despite the launch of Sesame Street cookies..
2
negative
Indeed, we expect residential access lines to fall by about 4.9% y/y, versus 4Q01's 4.7% rate.
2
negative
A slide in the company's third quarter deck indicates that 3 times the construction loans in Florida as it does in the Midwest. It has 4 times as many in California.
0
neutral
We expect that revenues at the broadcasting segment will increase 3�4%, and operating income will grow 2�3%.
1
positive
The decline in the first quarter 2005 margin reflects pressure from the integration of Putnam's defined contribution business.
2
negative
Ameriton, ASN's taxable REIT subsidiary (TRS), contributed $0.035 per share to ASN's total FFO in the fourth quarter, $0.23 per share in 2006, and $0.25 per share in 2005.
0
neutral
The Company will continue discussions with the FDA.
0
neutral
The '872 patent includes claims directed to magnesium salts of the S-isomer in optical purity of at least 94% enantiomeric excess, as well as higher percentages (e.g., at least 98.4%).
0
neutral
The lack of transparency in financial returns probably works against Eastman in the short term.
2
negative
We derive the number by taking the 2006 sales of $2.8 billion (see Exhibit 2) and removing (1) $500 million in anemia of cancer revenue, (2) $300 million in revenue from hemoglobin initiation of <10 g/dL (20% of $1.4 billion of CIA sales), and (3) $200 million from cutting duration of therapy (15% of the $1.4 billion i...
0
neutral
With the latest releases, ORCL has also improved the process management and audit.
1
positive
Operating Profits of $1.20 billion climbed 11.0% from $1.09 billion a year ago.
1
positive
We are adjusting our FY06 quarterly estimates to reflect CL's guidance regarding the quarterly breakdown of the option expense, which we expect to reduce FY06 estimate by $0.09.
2
negative
Darusentan's safety is so far so good -- only sporadic liver enzyme elevation is seen despite the liver toxicity seen in the drugs in the same class (none of the other drugs in this class are currently used for treatment of systemic hypertension, as their toxicity profile is unsuitable).
1
positive
One may have minor reservations about whether the new 50/50 Motiva joint venture will be able to deliver the targeted cost savings much better than the prior ownership arrangement.
2
negative
Worst Case Our worst case scenario differs from our base case in 3 ways: 1. We reduce our operating cash flow forecasts by 10% in 2002 and 2003; 2. We assume that CPN is only able to execute on 90% of the $886 mil.
2
negative
We expect cost pressures to continue going forward.
2
negative
In total, pretax income was $1,078 million -- a 5.4% increase over the year-ago quarter and $32 million above our expectation.
1
positive
On October 13, HCA announced a $2.5 billion share repurchase.
1
positive
Operating margin performance for the division was pressured by higher paper prices, which are stickier in the contract channel.
2
negative
Phase II results showed that high doses of Zovant reduced mortality by nearly 40%, in a small, U.S.-based, tightly-controlled clinical trial.
0
neutral
FDX is likely to receive approximately one quarter of this sum, however, it is unclear at this point exactly what form the relief will be in and therefore, none of this benefit is in our earnings estimates..
1
positive
The negative volume growth reflects primarily competitive pricing pressures and changes in the product portfolio to reduce lower-margin business..
2
negative
Branding efforts, even when they resonate with consumers, take time.
0
neutral
A fourth indication, treatment of cervical dysplasia (a precursor to cervical cancer -- $500 million-plus market potential) is in Phase II.
0
neutral
During the quarter, daily products available for sale averaged 962 MBPD versus 943 MBPD in Q3 2007.
0
neutral
Total Liabilities & Equity 16,604 24,013 Source: Company reports and Stanford Group estimates..
0
neutral
3 tonnes of compressed gas/cylinder, transported via truck with 240 cylinders/ truck 22 tonnes of liquefied gas per tanker, transported via road or rail NOTE: May also be transported in gaseous form.
0
neutral
From a valuation perspective, WPI is trading at 22x our 2006 EPS estimate of $1.56, which represents a 15% premium to the generic drug group.
0
neutral
Why Corporate PC Sales Matter For Microsoft Sales of corporate PCs are important to Microsoft not only because they help drive overall volume for Windows OEM units, but also because Windows Professional SKUs carry a meaningful price premium over both the Home Basic and Home Premium editions of Windows Vista.
0
neutral
In the International division (25.8% of 1Q05 revenues), sales declined 2.1% to $954.3MM vs. $974.8MM last year and our estimate for a 6.0% increase.
2
negative
Also, the checkout terminals featured a new POS system (touch screen, on screen ads, web based portal), greater counter space, and a more customer friendly layout which management claims will reduce checkout time by ~17%..
1
positive
Currently, SRE has two settlements outstanding: 1) SDG&E proposed revenue increase of $138 million with a 2008 test year, SoCal Gas revenue increase of $59 million; and 2) Annual fixed dollar revenue increases to counteract attrition: at SDG&E the proposed increase is ~$43 million per year from 2009 to 2012; at SoCal G...
1
positive
That should make it easier to manufacture the parts in Austin (aluminum) and Dresden (copper; Tbird only).
1
positive
+4% - Potential Andrx new product flow to begin in H2:2008 - New generics drive 80%+ of generic sales growth - Collaborations could add to pipeline +4% - Generic and Specialty should both contribute to growth.
1
positive
Educational products are expected to decline by around $110 million or 60% sequentially in Q4.
2
negative
Leading server competitors are Sun, HP, CPQ and Dell.
0
neutral
What is your stance on moving model year to September/October time frame as suggested by Genmar? With the "significant improvements" at the U.S. Marine division, can we think of breakeven in that group as a 2003 event versus a 2004 event?.
1
positive
Over the three year period we assume this free cash flow and 1998 sale proceeds of almost $4 billion will be used this way: 56% to repay outstanding debt, 31% to repurchase shares, 9% toward investments, and the balance going to working capital needs (the comparable figures, assuming the spin-off of Blockbuster, are 62...
0
neutral
This is consistent with the company's message two weeks ago when Cardinal reported its June quarter results and lowered its EPS growth expectation for fiscal 2004 to "mid teens or better" from around 20%.
2
negative
Biomet also offers MIS knee instruments (Microplasty) that allow minimally invasive techniques with its Maxim, Ascent, and Vanguard implants..
0
neutral
Nov launch on TMobile Germany; Dev launch on Rogers; others expected 1H/CY09.
0
neutral
All told, we have lowered our net revenue estimate for 4Q02 to $7,027 million from $7,458 million.
2
negative
We are hearing that National Beef will be the ultimate victor rather than Smithfield.
0
neutral
UPS experienced some traffic diversions in June and July, most of which we believe it will win back by year-end Positive.
1
positive
We reiterate our Buy rating and our $67 target price based on about 11x enterprise value-to-estimated 2003 EBITDAP.
1
positive
Since 1995, remittance volume to developing countries has grown 9% annually.
1
positive
Tyrihans The Ttyrihans South and North fields were discovered in 1982 and 1983, respectively, and lie approximately 20 miles to the southeast of the Asgard field.
0
neutral
While the genericization of brand products impacts overall antidepressant sales, it does create an opportunity for the remaining brand products, which are able to pick up incremental share from the fallen brand products that are not longer promoted..
1
positive
Pinedale production rose, but the big surprise was Rockies Legacy and Midcontinent.
1
positive
Quarterly revenue increased 9.1% year-over-year to $797.3 million vs. $731 million a year ago.
1
positive
We also assumed that JPM pulls back on risk and forecast the VAR declining 10-15% y/y in 2006.
2
negative
The company is leveraging its DSP expertise to boost analog sales by increasing the analog product attach rate to DSPs from 20% last year to 40% in 2000.
1
positive
Again, its not clear whether U.S. and European teen and young adult behaviors track that of the their Japanese counterparts.
0
neutral
We expect the momentum realized in the fourth quarter to be sustainable.
1
positive
On a pro forma basis, the revenue contribution from advertising and e-commerce was approximately 18% of total revenues in 1998, and grew to an estimated 22% of revenues this past quarter.
1
positive
Management emphasized the expected lag in the decline of mortgage-related expenses versus revenues.
2
negative
Nevertheless, private label has been selling better than branded products and we expect the brand to strengthen as the company continues to fine tune the offerings.
1
positive