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Mirant's assets in Europe, Asia, and the Caribbean are likely to serve as a hedge against U.S. commodity price cycles.

neutral

In countries such as Japan, this first mover advantage is evident in the company's leading brand position, which is difficult for its competitors to emulate.

positive

Revenues from Flow Control segment (21% of total revenues) increased 23.0% y-o-y to US$1,071 mn in 4Q 07 driven by strong double digit growth in the industrial valves, water and thermal control businesses.

positive

Notably, consolidated OIBIDA margin expanded greater than 400 basis points when adjusted for the stock option investigations.

positive

Overall, ICDs remain key for the stock, and we see sales stabilizing.

positive

There were two unusual items in the quarter, excluding these, the company would have reported $0.73, exactly in-line with our number.

neutral

If our views prove correct, WB may then be viewed as a safe haven and worth the premium multiple.

positive

Dominion Resources (D): With Signed Legislation, D Offers Excellent Value.

positive

Therefore, Medtronic's overall vascular business could suffer beyond the loss of the stent revenues alone..

negative

After having the representatives of the three companies removed from CEMIG's board of directors (via a court order temporarily suspending the shareholders agreement), the governor called for a special general shareholders meeting.

negative

This compares to a TVF and in-segment restenosis rate for the ACHIEVE arm of 11%-12% and 16%-17%, respectively.

neutral

However, looking at the pricing of the market (based on 2/21/01 pricing)which trades at roughly three times its growth rate of 6%-8%we would argue that Costco shares, which trade at 1.8 times their sustainable long-term 15% earnings growth rate, are undervalued.

positive

During 1Q03, MDR recently replaced its existing credit facilities with a $166.5 million credit facility, which is scheduled to expire on April 30, 2004.

neutral

The weak volumes, declining y/y margins and major cost restructurings taken in response at Sara Lee Bakery (the industry leader), especially since its acquisitions of Earthgrains in August 2001, are indicative of a willingness and ability to price more competitively than in the past.

negative

Ford announced the culmination of its long awaited restructuring plans in Europe this morning.

neutral

The company reported on the second-quarter conference call that its PD education program is progressing.

neutral

LUKOIL Venture in Russia (NMNG) In Russia, LUKOIL (70%) and ConocoPhillips (30%) will partner in the development of LUKOIL's reserves in the northern Timan-Pechora area (north of European Russia).

neutral

On a pro forma basis, the loss narrowed to ($0.10) per share from ($0.15) Q/Q and ($0.17) Y/Y (TRG estimate loss of $0.13 per share).

neutral

Williams is seeking to differentiate its services through a number of strategies.

neutral

Comparisons now become easier against the promotional activity surrounding the Summer Olympics in 2000.

neutral

Also, it would have been too burdensome to link each vials to individual patients.

neutral

Reducing transportation costs adds significant value to utilities and Consol.

positive

PNC is currently heavily involved with regulators following its 2001 restatement of earnings and other problems.

negative

UST 4Q results: Better premium growth, cost-cutting.

positive

The Engineering and Construction Group, which includes Kellogg Brown & Root (KBR) and Brown & Root Services (BRS), performed reasonably well considering the challenging market.

positive

Software (-1%) and Enterprise Investments (-10.5%) declined year over-year on a reported basis.

negative

The new plans unify the two networks as customers usually shop for a specific service and not a specific network.

positive

We determined our PT via a DCF-based valuation with 9.7% WACC and 3% TG.

neutral

On the commodity side, the cost of production is the cost of survival.

neutral

XL reaffirmed its 2003 operating EPS guidance of $8.00.

neutral

Gross margins decreased to 33.9% from 37.7% in F3Q.

negative

Among other things, that requires getting institutions to train students and workers on GoLive instead of Dreamweaver or other products.

neutral

Specialized products is one of the company's highest growth segments, as the.

neutral

Intel has begun testing of RAMBUS DRAM samples from Toshiba and LG Semiconductor (2989.KS).

neutral

Vendors will be key to making it through holiday season in 2009.

neutral

Progress has been slow for Lucent in developing the competitive ATM WAN switching products that have been missing from its data networking portfolio.

negative

We believe fair value for the shares reside in $6.50 to $7.50 range based on our sum of the parts valuation.

neutral

Spinal construct growth is already slowing and biologics will likely not be able to compensate after OP-1 is launched.

negative

2f CIBC World Markets Corp. expects to receive or intends to seek compensation for investment banking services from Coventry Health Care, Inc. in the next 3 months..

neutral

One of the things that makes managed care work is that health care spending is remarkably concentrated, with 10% of patients accounting for about threequarters of all medical costs.

positive

All of these moves are consistent with CA's increased focus on better internal controls and corporate governance..

positive

Outlook continues to be cautious, as the company is guiding for a 3% sequential decline in the March quarter, implying only 1% y/y organic growth.

negative

impressive operating earnings growth, excluding the volatile businesses that have been exited (including the pending sale of Lincoln Re).

positive

Bank consolidation will likely have a bigger impact on the Card Issuing Services segment than the Merchant Acquiring business.

neutral

In fact, in fiscal 1998, Tenet sold or closed 10 to 12 hospitals (and purchased a few others).

neutral

In our view, generic drug companies are favorably positioned as the pipeline has increased on a Y/Y basis, the sector continues to consolidate, and cost conscious consumers, insurance companies, and governments are fueling growth of the industry.

positive

These multiples are reasonable, in our view, and may be exceeded by a strategic buyer.

positive

We believe that this trend is now reflected in the price of the stock.

neutral

In addition, debt origination grew 79% YoY (> industry's 18%) and equity origination improved 77% YoY (> industry's 44%).

positive

Lastly, the Government & Public Safety business has shown exceptional strength to date and is benefiting not only from heightened priority in the U.S. but strong demand globally as well.

positive

International Flavors & Fragrances: Quarterly Income Statement, 2000A-2001E.

neutral

In exchange, ABI will provide two separate payouts to CRA.

neutral

However, the lower risk strategy for the company of sticking to its core strength of wireless and parts/batteries/accessories while generating strong FCF should support estimates and limit downside to the stock.

positive

The y/y decline was driven by the decline in sales and gross margins and, to a lesser degree, an increase in SG&A expense.

negative

EBITDA $1,721 Tax Rate 32% Source: Company data, Wachovia Capital Markets, LLC estimates.

neutral

We believe the company's decision to split LTR shares 3-to-1 on May 8, 2006, will be an incremental positive that could shrink LTR's discount.

positive

For these reasons, we believe a P/E multiple to 19x is warranted, which implies a price target of $53 given our '08 est. The historical P/E (5-yr.

neutral

Headcount was roughly unchanged in F1Q06 and management stated that full-year headcount should grow in the mid- to high-single digit range with the highest growth in Asia followed by Europe and then the U.S. 6. Capital.

positive

We recognize that there is an inherent inconsistency in this logic (incorporating the dilutive effect into the 1998 estimates but not the expected accretive effects into the 1999 estimates).

negative

Consent order calls for a penalty for $300MM theoretical maximum.

neutral

This aggressive plan was later scaled back to involve the replacement of only four board members (including Chairman Charles Wang), after most investors and analysts found the value of this proposition hard to fathom.

negative

� An acquirer could decide to undertake a network transformation project designed to increase MCI's EBITDA margins to AT&T's levels.

positive

The Mount Charlotte underground mine is scheduled to close within two years.

neutral

Higher operating margin should lead to better pretax ROIC and a sustainable premium P/E for the stock.

positive

International sales of dental reconstructive products were up 24% while domestic sales increased 11%.

positive

FRE: Solid Portfolio Growth, Increased Commitments.

positive

Mulcahy to assume the spot in the not too distant future.

neutral

Compelling valuation Initiating coverage of Northrop Grumman with an Outperform rating and US$87 target price : With a collection of products and services that are firmly in the core defense budget camp, we see Northrop Grumman continuing to delivery steady, visible growth in coming years.

positive

We are not changing our published 2005 EPS estimate of $8.60 at this time, but our analysis indicates that our estimate is very conservative and likely to prove too low.

positive

At the company's analyst meeting last year it indicated that it planned to be near free cash flow positive in 2003.

positive

Recently released ENHANCE clinical trial results comparing high-dose Vytorin to high-dose Zocor continue to weigh on the performance of SGP.

negative

Norwest has both scale in its customer base and product specialties, making its franchise particularly attractive.

positive

CED is expected to become profitable by year-end 2001 and could generate $50 million of earnings by 2004..

positive

Technology margin was -3.0% compared to our estimate of 2.5%.

neutral

This fall-off underscores our prior concern that TROW earnings had become too heavily dependent on investment income rather than fee income.

negative

In most cases, the price of the various cabins is the largest determinant.

neutral

Price Target Impediment: Significant depreciation in the equity capital markets and narrower interest rate spreads could lead to slower than expected growth, which may make the stock underperform our price target..

negative

With the non-vascular businesses performing well and easy U.S. comparisons for the Express2, we expect 2003 EPS to rise 22%, to $1.22.

positive

We estimate that transmission test products accounted for 10-20% of TEK's optical test group or $1-$2M quarterly rev.

neutral

While average sales per store jumped 7% in the quarter, SG&A expenses per store were up a much slower 5.4%.

positive

New products include frozen Toaster Swirls and Toaster Sticks.

neutral

We expect international to contribute approximately 22% of incremental EPS growth over the next five years (see Exhibit 2).

positive

Yesterday morning, CSX reported what we believe was about $0.85 continuing and what was reported as $0.91/share continuing, compared with our estimate of $0.82/share and the Street Consensus of $0.81.

neutral

($ millions, except per share data) 1997A Operating Activities Net Income ($100) Depreciation 354 Deferred taxes and tax credits 26 Def'd nucl plants return, net (21) Aftertax interest expense 169 Amort.

neutral

We expect procedure growth rates to be flat through the end of 2007.

neutral

HCA also said that same store revenues were expected to increase 4.6% to approximately $6 billion.

positive

But the XPlay software does provide a satisfactory user experience, according to our tests.

positive

Capital IQ ended the quarter with 1,900 customers vs.1,500 at the end of 2Q and mgt.

neutral

CCU is approaching the takeout price of $37.60 on hopes that the offer is raised.

neutral

At the end of the 2001 first quarter, Veritas had cash and cash equivalents of $1.24 billion and long-term investments of $119.8 million.

neutral

provided financial guidance that was below our estimates..

negative

UCL: Reports Q1 EPS--Lowers Production Guidance--Lowering Ests.

negative

No rating history data found for Cognizant Technology Solutions Corporations.

neutral

Other Entertainment Companies Could Become Larger Competitive Threats While the industry is peppered with innovative pure-play publishers, the diversified entertainment companies could also increase their presence in video games.

negative

Bank sales were �1.0 billion, which is an improvement of 5.2% from the fourth quarter and comprised 3.7% of total sales.

positive

F4Q new business sales were up a healthy 5% against a tough compare.

positive

Further, EDS' project business (primarily the E.Solutions unit focused on systems integration work), though small, has been quickly gaining share by cross-selling to EDS' vast existing outsourcing client base.

positive

However, given the inherent uncertainty in the non-operating line and the resultant stock volatility, we would like to see more upside before buying the stock..

negative

To that end, Mexico has successfully stabilized financial markets since the Tequila Crisis in 19941995 and put in place a series of structural and legal changes that have made consumer lending more attractive for banks.

positive

Under the new plan, each Market Area organization will have profit responsibility for the entire area.

neutral