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However, lercanidipine has reported ankle edema at 1% and 6% for comparative daily dosing of 10mg and 20mg, respectively..
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Based on our April 2002 proprietary survey of 28 U.S. IT operating managers at brokerage and asset management firms, we believe demand in investment support systems (ISS, 52% of 2003E revenue) will remain muted, and that SDS's long-term internal growth will slow ("Downgrade to Equal-weight from Overweight", April 18, 2002).
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We are already seeing Continental start serving new transatlantic routes, including New York-Berlin, a previously unserved market.
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Applied is unique from all its nonJapanese competitors by having developed leadership positions in several product areas.
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Internationally, the company is expanding its sales force in China by ~50%, as well as the Middle East and Africa to better capture the growing opportunities that it sees.
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Importantly, management indicated progress on its balance sheet enhancement program designed to reduce the debt-to-total capital ratio by 50 percent or below by year end.
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We believe, however, that the technology dynamics in the market will make it increasingly appealing to systems providers to do so, including the rapidly falling price and improving quality of color TFT-LCD displays, rapidly falling price and improving quality of storage technology, and rapidly improving economics and power consumption of 90-nanometer 300mm process technology.
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PBI's restructuring program seems to be on track as PBI took its first charge ($75 million) of about $105 million total to lower costs and position the company for faster EPS growth in 2002.
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We also think that some of the reduction of pricing (on only certain parts of contracts) is actually intentional on the part of all the PBMs.
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The iMac should enable Apple to dramatically reverse the downdraft in sales that has persisted since the end of 1995.
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Nortel' acquisition of Bay Networks gave it a presence in the enterprise data networking s market.
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� Accounts receivables decreased 5.6% versus last year, and reserves stood at 39.2% of gross accounts receivable versus 29.5% of gross accounts receivables last year.
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At This Time, We Do Not Expect This To Negatively Impact 2004 And We Maintain Our 2004 & 2005 Estimates Of $3.35/Share And $4.20/Share, Respectively.
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We consider Actonel to be a better bisphosphonate therapy than Fosamax due to its reduced gastrointestinal irritation and similar (perhaps slightly superior) efficacy.
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discussion of worldwide PC weakness, especially in the consumer segment..
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A secondary risk for the company (and all gas distributors) is the potential fallout from high winter heating bills.
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In May 2000, ADC Telecom announced that it was looking for a new CEO The reason for our long-term Buy rating is the belief that ADC's strategy.
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Parametric Technology Corp Other Software Comparisons.
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We note that KLA-Tencor has the dominant market share in inspection while Applied entered into competition against KLA with its joint purchase of Orbot and Opal about three years ago.
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On an absolute basis, the shares trade at 62.2X our fiscal 2001 earnings estimate versus its average historical range of 31X to 58X.
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We continue to believe that Tellabs stock could to trade to of a 40x multiple on our CY'99 EPS estimate of $2.23, so we calculate a 12-month price target of $90.
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Recall that Avery faced a tough comparison, as 4Q04 volumes rose 10.5% due to extra days and prebuying ahead of price increases.
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at such a utilization level, cable plants would be unprofitable owing to intrinsically higher costs (lower gross margin) of cable business..
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BRI operates a chain of beer retail stores in Ontario and is jointly owned by Molson, Labatt and Sleeman.
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We also believe investors should continue to aggregate Raytheon Aircraft and Raytheon's recently segregated "Other" line, which aggregates the losses of Flight Options, RAC's commuter business and its external training services.
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As previously discussed, Wells Fargo has one of the stickiest core deposit franchises in the nation, with core deposits comprising 85% of total deposits in 1Q05.
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Management expects the expense ratio to improve in 4Q/06, partially due to lower advertising outlays and leverage from a 14th week in the quarter.
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This beat the consensus forecast by $0.03 per share We are taking our 2002 EPS forecast up to $2.07 from $2.00, but leaving 2003E EPS at $2.27 for now.
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The enhanced labeling allows TriPath to market its cytology system as superior to the conventional Pap smear, which it had not been allowed to do in the past.
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Finally, we contend that Xerox is an unlikely takeover candidate (too big, hard to fix, no strategic buyer, and huge debt); nor, in our opinion, is there a breakup scenario that works.
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On October 24, we look for Kodak to report Q3 EPS of $0.55 on revenue declines of 8%.
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Further, ACAS's ability to meet and grow its dividend payments without returning capital could be more constrained over time if ACAS does not maintain the 2007 pace of realized gains from the private equity portfolio..
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Collection (which includes the Ellen Tracy, Inc. and Linda Allard Ellen Tracy lines) accounted for approximately 80% of 2001 sales and casual sportswear (Company Ellen Tracy line) represented 20%.
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PG will pay $4.95 billion for the business, $1.0 billion in cash and the remainder funded with debt.
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We expect the transaction to be accretive to HSBC due to: 1) lower funding costs, and 2) the P/E multiple difference between the two stocks.
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However, we expect that the combined company is unlikely to have any strong platform brands established in the market for approximately twelve to eighteen months.
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Higher operating and maintenance costs ($108 million including Davis Besse-related costs) resulted in a 61% decline in operating income to $13 million during the quarter.
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Risks: We believe risks to our current Hold rating would include a significant deterioration of ROK`s automation end-markets beyond what our model and index are currently assuming..
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Seabourn Carnival took a 25% stake in Seaboum in 1992, giving Carnival a share of the luxury cruise market.
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Having said that, they remain confident that PC OEMs are very supportive of AMD, and that they will give more clarity on their MPU roadmap at the June 1 Analyst Day..
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Given the different adjustment factors (partly due to day sales) being used by the BEA, we estimate this would translate into SAAR of roughly 15.9 million.
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Taking this into account, we forecast total EPS growth for MetLife will be more in the area of 10%.
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Lowering Net Adds Forecast to 800,000; Revising Fourth Quarter and Full-Year Net Add Estimates to 1.2 Million and 3.8 Million.
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We believe that this is warranted given the company's outstanding fundamentals pertaining to sales, earnings, and cash flow..
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Customers in the US have to spend more US dollars to send the same amount of Euros.
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From a volume share perspective, Kodak's volume share edged upward 60 basis points year over year, while Fuji's volume share surged 4.5 points year over year.
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Our published estimate of $0.63 included $0.02 from the discontinued operations, so the quarter was in line with our expectations.
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diversification + cost controls = positives - BUY.
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In a document filed with the SEC yesterday, WYE outlined the terms of its settlement agreement with Teva on Effexor XR.
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Operations take place in the Americas; Europe, Middle East and Africa; and Asia..
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About 6.9 million microprocessors were shipped in the third quarter, with an average selling price around $91, compared to 6.3 million units last quarter when average prices were around $92.50, reflecting increased Duron shipments.
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By our count these totaled 15 globally (excluding Germany and the Netherlands).
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We also believe the Superior acquisition is proceeding well, and the actual deposit run-off has been only one-third of the originally projected 50% attrition (note that Charter One re-priced all of Superior's above market-priced CD's shortly after the date of closing).
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Our model also assumes a 9.5% cap rate on affordable properties, which again, includes those conventional properties with rents below $600/month.
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Despite this fortuitous timing for XRX, we continue to believe that it will fall short of its goals for TEK's contribution to EPS and revenues.
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Carnival witnessed strong revenue growth driven by enhanced capacity and strong demand in Europe.
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For its direct stores, management said that its same store sales were up more than 20% year-over-year.
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For Card Issuing Services, in 1Q/05, revenue rose 8% to $603 million, trailing our $614 million forecast.
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But until new products arrive and new applications are developed for this market, it is still an article of faith that the chasm can be crossed within the foreseeable future..
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The combination of mix and market demand offers little opportunity for a significant margin recovery in 2010, in our view..
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This is positive from a pricing standpoint, as professionals receive discount cards of about 10-20% off the retail price.
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Much of the work here is classified, so visibility into this sector is probably the lowest of any of Northrop's sectors.
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In addition, we believe Renagel sales will benefit incrementally when the new Medicare drug benefit takes effect in 2006.
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� $0.03 due to the resilience of the U.S. dollar.
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By comparison, in 2000, monthly announced M&A volumes averaged $272 billion amid a period of large, transformational deals that favored equity versus cash as the preferred form of payment..
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The mean increase in hemoglobin over the initial four weeks of Aranesp treatment was 1.10 g/dL.
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The company announced that 1999 earnings would fall short of expectations as a result, and its stock suffered.
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Power-One is a leading pure play manufacturer of power electronics serving the communications, industrial, and transportation markets.
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We believe the traditional post-approval risk adjustment is now fully reflected in the stock's price and risk has shifted from development success to commercial execution.
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Earnings include $0.02 accretion from its $1 million tender offer.
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We believe that other competitive product introductions may dampen the benefit.
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We now expect there to be additional compacts in California signed, which could allow for an even greater expansion.
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We measure reserves in a method used by banking regulators, by looking at the number of months that reserves cover losses.
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CY also plans to offer a USB OnThe-Go solution in the summer timeframe which will enable peripherals to support limited hosting functionality as well..
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Conference Call Highlights Expect to see increased semi-submersible orders in 2H05.
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As of December 31, Merck is aware that it has been served or named as a defendant in approximately 27,400 lawsuits.
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Importantly, the memory content per system in each of the above types of consumer devices is growing rapidly, at a much faster rate compared to the computer market.
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The tax rate was 24.0%, down 70 basis points and we would expect this rate to be maintained going forward thanks to SGP's solid tax planning.
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To this end, the companys proprietary vendor communication interface, Retail Link, was introduced in the early 1990s.
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Volume growth was driven by strong performance of Science Diet and Prescription Diet products.
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We believe a final decision on a broader rollout will be made by 2Q05.
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Currently, the shares are trading at 20x times our CY06 earnings and the consensus CY07 earnings.
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In addition, the Parent provides funds to its subsidiaries.
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Net Interest Income: Net interest income for the quarter ended September 2007 increased 28% to $4.6 billion from $3.6 billion in the year earlier period and 2.2% from $4.5 billion in the prior quarter.
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Anecdotal evidence and the forward pacings in the major markets suggest it is still strong, though against very easy comps.
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With that review due by the end of the first quarter, the announcement of a major new cost savings initiative is imminent (we expect a formal announcement in the next 30-60 days).
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Our 9.5% long-term profit growth forecasts results in our price target of $83..
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Global inventories were up 15%, higher than we expected due to some pockets of weakness overseas, higher in-transit inventory, and expansion of company-owned retail stores.
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Nicor also has supply diversity and bargaining leverage since it has eight interstate pipelines from which to source its gas supplies.
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Dilution from share issuance and full consolidation of op losses roughly a penny and likely offset by operating efficiencies gained..
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A 65% initial year decline, followed by a 30% year 2 decline and a 15% year 3 decline.
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Interpore has an attractive portfolio consisting of spinal hardware, orthobiologics and minimally invasive surgical (MIS) products..
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In addition to the unavoidable cost pressures in the last quarter and going forward, the companys marketing strategy calls for higher marketing investment and trade spending support relative to a year ago.
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Factoring this in, we nonetheless modestly increase our price target from $14 to $15, reflecting our higher estimates and a sum of the parts valuation methodology (see "Valuation" section).
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Although the purchase is expected to close following Chase's acquisition of Fleming, we note that this deal is not contingent upon the Chase-Fleming deal.
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The Wealth and Institutional Management segment offers products and services that include personal trust, private lending, institutional trust, retirement services, investment management and advisory services, and discount securities brokerage services.
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Litigation results could impact AEFA, driving higher associated costs, while structural changes could force restructuring charges.
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Over the balance of the year, we forecast SG&A rate should benefit from improving sales trends, a moderation in growth rate of American Express card penetration, and annualizing utility cost increases (in May/June).
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The unusually low level of chargeoff rates experienced so far this year are a result of the "pull forward effect" caused by the surge in bankruptcy claims in the fourth quarter of 2005.
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With the SAP Integration now behind them, the systems are once again working properly and the company is adjusting prices to recover the cost of higher input costs.
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