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The stock has had a handful of two- to three-year consolidation periods.
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Our FY05 EPS estimate increases only $0.01 to $1.20 (vs. $1.16 cons.) due to company reinvestment/pre-spending in real estate, cleanliness and international initiatives..
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The remainder of 2003 will likely be difficult for Transocean due to fact that the shallow water GOM recovery has not occurred as quickly as we expected and has resulted in lower than expected profitability for the company's domestic shallow water fleet.
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UNnitedHealthcare Online, the provider portal, has 345,000 physician registered with an annual projected run rate of 63 million transactions, mostly eligibility verification.
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Oracle has a lead in these selected CRM areas, which are indeed customer-related.
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Based on market conditions as of the end of March, the company believed this would result in further write-downs later in the year of $295 million after-tax, although given the recent rally, we would expect this number to have diminished significantly..
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Prior to joining Sunoco in May 2000, he was Manager, Safety, Health and Environment for Exxon Mobil's global downstream business.
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At Target, 80% of the items appear in at least two of the three stores.
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U.S. sugar prices have been well above world prices since 1982 because the U.S. Government supports domestic sugar prices through loans to sugar processors and, beginning in FY 2003, a marketing allotment program..
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Volume growth for the full year was just over 4%, led by new products and expanded distribution for convenience foods.
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International Industrial sales rose 17.4% (versus our 10.9% projection) to $310.4 million from $264.4 million, with acquisitions accounting for $31 million, or about two-thirds of the increase.
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o Aftermarket Services sales were roughly $155 million, flattish with the prior quarter and represented 5% of total revenues.
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In the interim demand for LCD desktop monitors is reaching 40% global market penetration and is expected to grow over 80% by 2007.
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We have done our best to layout pictorially the interrelationship between the three entities.
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Finally, easily accessible actionable information acts as the agent for identifying and planning to achieve appropriate goals and to track progress toward those goals.
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A sale of assets, for instance, is contingent on finding a buyer at a good price.
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Our Q108 estimate of $0.53 is roughly 20% higher than the current consensus estimate.
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We continue to believe that PGN will under-perform on a relative basis.
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Inventory days dropped to 11 in the most recent quarter, which is second only to Dell, and we expect to see a single-digit number in the September quarter.
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Company Name National City Corp Ticker NCC Price $30.16.
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Our forecast for Febuxostat calls for 2005-2008 revenues of $15M, $100M, $165M, and $230M, respectively..
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Financial Model - Gross margin declined sharply from 25.3% in Q2 to 8.8% in Q3 due to the continuing revenue decline.
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The RLEC sector is fragmented, with a large number of small companies, which we believe could be a catalyst for industry consolidation.
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We would not be surprised to see an upward trade over the next few weeks -- the company could announce any upside to 2Q99 EPS on the July sales call and raise expectations for 3Q99 (although the latter is unlikely).
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However, we are remaining at $5.00 for now on the assumption that option expensing will become a reality.
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He has also held financial management positions at SEI Corporation and Manufacturers Hanover Financial Services, Inc. We believe an equally important driver of performance is management compensation and ownership.
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Adjusting for these items, we calculate operating EPS of $0.69, which missed our estimate by $0.02 but beat consensus by a penny.
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We believe that sales have been driven by flat panel TVs, the gaming cycle, notebook computers, accessories, and firedog services.
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*** Unisys continues to maintain extremely tight cost and expense controls.
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Relatively high valuation of 15.9x'07E (8% premium to peers) & overly agressive MA strategy keep us cautious on HUM shares..
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In the retail business management faces challenges in cold cuts (Kraft, private label) and price pressures in its grocery business (growth of Wal-Mart, channel consolidation).
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Medical synergies from merger will come from the ability to recontract in overlapping markets with 50%-70% overlap of First Health's network on CVH's markets where First Health currently spends $3.1bn.
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Our estimates for 4Q06 and 2006 are $1.09 and $3.99 (previously $3.98), respectively, which are in line with consensus estimates of $1.09 and $3.98.
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Should Fabrazyme be launched in the U.S. in 2Q03, our Fabrazyme sales estimate for 2003 would be approximately $20 million higher, resulting in an additional $0.03-$0.05 in EPS for the current year.
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High-pressure laminates consist of several layers of paper impregnated with various resins, pressed together under high pressure to form a highly wear-resistant composite material.
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This line could be expanded to 300 Mbpd for an estimated $700 million with the addition of more pumping stations and other facilities.
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Earnings stability combined with global brand recognition and the potential for expansion into world markets are the elements that drive the multiples of strong multinational consumer products companies.
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RJR Tobacco has provided guarantees as part of the B&W transaction.
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As the retail concepts develop, management believes the concepts can begin to achieve operating margins on par with the corporate average at the 60-door level.
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Over the next two years, we believe its stock will be a top performer among pure-play power supply companies.
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Business Disruption Evident w/Uncertain Outlook; Reducing Estimates.
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High inventories and economic conditions are reflected in first half EPS reductions.
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Consumer revenue in the North America grew just 5% y/y.
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Last month, about 500 commercial banking positions were eliminated, and early last week the company announced that it would close proprietary trading operations in London and Hong Kong.
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In 1995, overall demand was strong and, as the industry's operating rate moved up close to 95%, prices were increased sharply and there was a strong rebound in the profitability of this business.
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Importantly, we have assumed the US$/C$ holds steady at 0.87 on a go-forward basis..
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Although spreads have widened about 30 bp since its 1Q02 earnings report, HET has held in much better than most of its peers (and still remains inside of preSeptember 11 levels), some of which have widened considerably over the same time period.
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NBC also benefited from syndication revenue from the comedy Will & Grace.
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The discounters and internet sellers price aggressively and have moved toward offering a broader assortment of toys.
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There are currently two trials under way with this software.
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But it rebounded after Congress passed charter revisions that strengthened our safety and soundness and our affordable housing mission.
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A Significant Profit Increment Revenue per unit in the current year will continue to benefit from steep 1998 price increases, especially through November when last year the industry implemented the bulk of its 1998 price jump.
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Proprietary, high-performance analog/mixed-signal parts generally command relative pricing power, while commodity parts are usually subject to greater competition and cyclicality.
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Sales of home fashions (bed, bath, and kitchen) and footwear increased 40% and 20%, respectively, in 1999.
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In addition, we assumed that the $400mn in commercial paper and the 2008 and 2009 bond maturities were paid down with available cash.
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If we were to use a $0.63/lb aluminium price in 2002 our earnings estimate would fall to about $1.85 per share or about the mid-point of Alcan's guidance of $1.70 to $2.10 per share.
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The business is in cashflow growth mode, as volumes have ramped to record levels quarter-after-quarter just as chemicals margins have entered arguably their first major sustained peak for some 20 years.
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Weak November sales overshadow margin improvement: It appears as if the dollar stores are becoming lese relevant holiday destinations, given weaker comps across the board, during the past months.
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The company believes that it may place more than 50,000 games into the domestic gaming market related to replacement business alone.
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Our Viagra sales forecasts anticipate growth in 2003 of 15% to $2.0 billion, followed by gains of 10% in 2004 to $2.2 billion..
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The company continues to shrink and build capital, though the rate of shrinkage is a bit slower than we forecast.
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While lagging it's peer group through 2003, some of the benefits of the impending restructuring have filtered into the stock price improvement this year, we believe.
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In conjunction with its focus on profitability, the company has departed from both Indonesia and Spain, as neither of these divisions was expected to meet the company's profitability requirements.
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The company has supported a $50/ton container board price increase, effective March 1.
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Conversely, the managed delinquency rate should drop to 4.32%, because more of these overdue loans will have been cleared from the books.
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This was nearly identical to the 19.3% growth we saw in the September quarter (which also included Platinum).
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At this point, our best assessment is that they would likely capitalize at least one triple-A subsidiary to support Financial Services.
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Rowan also owns and operates 14 land rigs in Alaska, Texas, Oklahoma, Pennsylvania, and Louisiana..
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Risks: The major risks to PRU are a lack of acquisitions or beneficial uses for their excess capital that can expand ROE, continued low interest rates, and currency risk if the dollar continues to gain ground against the Japense Yen..
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The quality of earnings exceeds many other finance companies.
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One important change that recently (implemented on October 1, 2008) affected the urinary catheter market is the decision by CMS to stop paying for expenses caused by hospitalacquired UTIs.
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At the same time, spending on Scaleable Infrastructure (headend equipment to support HSD and phone for example) and CPE has risen.
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Corning's flat panel glass business achieved record shipments.
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A 240 basis point decrease in gross margin to 29.4% more than offset a 110 basis point improvement in SG&A as a percent of sales to 13.9% (excluding corporate).
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We continue to be cautious given the prevailing macro-economic uncertainty and the resultant impact on IT spending.
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Retail sales boomed and Deere is forecasting a 6-9% gain in fiscal 2005, which is only slightly conservative.
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We would argue that, once the ship appears to have its bearings, it's time to re-think the question of filling out the rest of the country where Sara Lee Bakery Group does not currently compete.
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Maintaining Estimates; Reiterate Outperform Rating We continue to view T. Rowe Price as a core, growth financial services holding.
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03 May 2007 Americas/United States Equity Research Integrated Telecommunication Services (Telecommunication Services) / OVERWEIGHT.
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According to Mercury Research, NVIDIA's unit shipments in the PC segment (including non-graphics core logic chipsets) declined 6.6% QoQ in C1Q05.
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Operating margin is expected to be about 31.0% to 31.5% vs. 35.3% Y/Y.
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He noted however that it would take some time for the new revenue streams to replace the old - for example The New York Times was getting around $20m in on line revenues but had lost an estimated $100m in print advertising.
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The CTS segment's operations include three main business lines: 1) Pyxis medication cabinets, designed to make medications accessible to nurses and physicians on patient floors in a secure manner 2) Alaris IV infusion pumps and related consumables 3) Consulting and other services, such as pharmacy management, MedMined (which collects and analyzes patient data), and CareFusion (which provides point-of-care medication management and patient identification solutions).
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Aetna reported a commercial HMO premium yield increase of 11.0% in the third quarter of 2001, inclusive of benefit design changes.
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KO benefited from lower operating expenses, driven in part by $0.005 of lower stock option compensation expense.
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Balance Sheet Shift Should Result in "Energized" Returns, Margins, and Valuation Over Time Charter One's revenue growth strategy is primarily driven by the company's focus on generating higher-margin loans ("energized") while moving away from lower margin residential mortgage loan products.
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Each Bell company is generating substantial growth of long-distance subscribers and, therefore, inter-lata long-distance revenue.
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However, a major trend in the semiconductor industry right now is the transition to 300mm (12-inch) wafers.
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EMN has invested 1-1 1/2% of its sales in recent years in these opportunities.
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We encourage IBM to help IBM better understand the short-term impact, if any, of pension for FY 02.
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Based on recent data from IMS Health, Truvada weekly prescriptions appeared to grow at the same rate throughout the fourth quarter.
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VERITAS QUARTERLY OUTLOOK We believe VERITAS' sales growth continues to be driven by the explosion in data, and the need to make it available across the organization.
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A Level 2 input is basically a quoted price for similar assets or liabilities in active markets..
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Regardless, Emerson experienced solid growth in the distributed power generation market and continues to believe this area provides a key growth opportunity.
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That being said, we believe the company's margin should stabilize and should remain in the 3.25% - 3.30% range in the fourth quarter 2006.
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The company's commitment to increasing growth through acquisition is evident in its new corporate goals -- namely a higher sales growth target, increased operating leverage, and a reduced dividend payout level.
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Engelhard should see some benefit from the Euro 4 regulations in the last months of 2005 with the rest of the benefit in 2006.
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s New CRM products for heart failure and atrial fibrillation are discussed.
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Airbus could be floating this idea in order to give airlines pause before considering a large investment in the 7E7.
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Now that can all be coordinated by the section general manager.
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