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The Company pre-released data on 1Q07 reserves and expected combined ratio on April 12, 2007. | 0 | neutral |
Moreover, the conversion rate increased from 9% to 10%, creating an increase in gross sales of nearly 12% on a year-over-year basis. | 1 | positive |
As a result, our earnings estimates are relatively high compared to other analysts which include these charges in operating earnings. | 1 | positive |
The OEM simply has to attach the module to the vehicle. | 0 | neutral |
As recently as January, the outlook had been for over $7.3 billion, but demand has collapsed among service providers (had been 40% of base, down 40% sequentially) and has weakened considerably in the enterprise base (down 20%) and overseas. | 2 | negative |
Alcoa continues to maintain a disciplined focus on costs and is arguably trying to reposition its downstream businesses, away from the US, to benefit from increasing Asian demand and to capture lower manufacturing costs.. | 1 | positive |
We expect the transaction to be modestly dilutive to Knight-Ridder's 2001 EPS (roughly $0.08) while having little or no impact on Tribune's EPS. | 0 | neutral |
We expect to see a modest sequential decline in margins in the fourth quarter owing to seasonality.. | 2 | negative |
Relatively robust growth in existing home sales continues to support the Indicator. | 1 | positive |
Alprazolam sales were roughly $877 million in 2000, 85% of which was generic. | 0 | neutral |
Phase 1 of the Ulysses pan-European cable connecting London, Amsterdam, Brussels and Paris is now operational. | 0 | neutral |
Using our 2007 EBITDA estimates for the Wendy's stub, this translates to 9.5x EV/EBITDA. | 0 | neutral |
AOL services that would now be free of charge include instant messaging, parental controls, anti-spyware and spam-filtering software, access to AOL's community, and AOL Video. | 0 | neutral |
Return on capital for 2003 fell to 12.8% from 13.4% -- Praxair estimates that the purchase of leased assets and higher tax rate accounted for 50 bp of the decline.. | 2 | negative |
This program should allow the company to boost home improvement revenues, while tracking/promoting potential transactions from lead origination through final installation. | 1 | positive |
Implications: Our analysis suggests that were the company to provide greater insight into the business, this would help rebuild confidence with investors and highlight the unrealized value we identify. | 1 | positive |
As a result, our analysis suggests that the best solution for shareholders appears to be to sell the Canadian and international operations and use the cash to buy back shares and/or grow the US business further. | 0 | neutral |
Fuel and purchased power costs remain high, which PNW expects to be in the $830MM range in FY 2006, $54 million above the cap recently removed by the ACC (Please see our note, "The Marathon of ACC Meetings", dated 1/26/06).. | 2 | negative |
For the first six months of 1999, AXP earned $2.67 per share compared with $2.35 a year earlier. | 0 | neutral |
The segment has already been under pressure due to having been on allocation for at least two years on insulation, which is about 60% of the install business. | 2 | negative |
Thus, the overall earnings growth rate for 2000 is 11%. | 0 | neutral |
A Triathlon powered re-acceleration in knees along with continued strength in MedSurg should enable Stryker to deliver 13-14% revenue growth in 2005-06, leveraging comfortably to 2223% EPS growth on the bottom line. | 1 | positive |
Hardware: Strength in UNIX Offset by Broad Weakness in Other Segments While we had expected weakness in mainframes and PCs to somewhat counter doubledigit UNIX server growth, the shortfall exceeded our expectations. | 1 | positive |
The spinoff of Medco Health Solutions, a pharmaceutical benefit management (PBM) services provider was completed on August 19, 2003.. | 0 | neutral |
Retailers continue to be disciplined but began to replace and upgrade POS terminals and expand deployment of self-checkout systems. | 0 | neutral |
We agree with this assessment as the lack of non-OPEC oil production growth should support strong oil prices, and rising spending for several years. | 1 | positive |
As with Avandia, Actos' label carries a reference to the hepatic issues that have been associated with Rezulin (as a member of the same class of drugs). | 0 | neutral |
NUS said it might take 45-90 days to be issued a license, and that companies would likely have to register in each province. | 0 | neutral |
Near-term, management confirmed that activity levels are solid and market trends across most asset classes have rebounded meaningfully from weak 2Q05. | 1 | positive |
Positive results from the new BGS rates that took effect in August helped put Power's performance within company guidance. | 1 | positive |
The total HIV market molecular Rx's for all three months of 2Q were up 1% over 1Q08 (q/q) and are up 7% y/y. | 1 | positive |
Nonetheless, Art Ryan, Chief Executive Officer, reiterated the view that M&A prices are generally rich and that the company will only engage in "financially attractive deals." 4. CEO succession plan to be determined in the next twelve months. | 0 | neutral |
Including FAS123R recognition, non-GAAP EPS stood at $0.19 during the Oct 06 quarter. | 0 | neutral |
Google provides a suite of products through which users can create, share and communicate information with other users. | 0 | neutral |
Following closing of the Cinergy deal, we expect DUK to be active consolidators over the next several years. | 0 | neutral |
Our review of Mellon's new business line disclosure confirmed what we already knew: Mellon's second quarter earnings were very strong. | 1 | positive |
Revised guidance now calls for $15-17bn in divs. and buybacks over 2007-2009, representing nearly 30% of the market cap, at the high end (Fig 25).. | 1 | positive |
Genzyme recently launched Renagel in Germany, the U.K. and Italy. | 0 | neutral |
The company also indicated that it was not instituting any price reductions on its high-end NIC cards which are sold in to the high-end enterprise market. | 0 | neutral |
Nevertheless, we believe that the Street had sought a higher number in recent days, perhaps closer to 5.0 million. | 0 | neutral |
For investors, all this activity is likely to reinforce a couple of broader themes: 1. The 787 program is essentially on track. | 1 | positive |
Reflective of the decrease to our earnings estimates we are reducing our price target on U.S. Steel to $118 from $120. | 2 | negative |
Spread revenues were down slightly (-1%) due to lower trading-related NII and a slightly lower margin (down 4 bps). | 2 | negative |
� We believe the entire backstop will not be drawn upon, therefore, on a reported basis, 2008 EPS should be negatively impacted by an estimated $150 million (in the first half of the year) due to the aforementioned backstop. | 2 | negative |
We believe Fisher wanted to repair the accounting and PBR issues that occurred under his watch before retiring. | 0 | neutral |
This compares to the QuickBooks Contractor Edition, which carries an ASP of $500, or QuickBooks Employee Organizer with an ASP of $300. | 0 | neutral |
Given Vornado's strong capital position, we think the company is able to pursue mispriced assets and has a competitive advantage over many of its peers. | 1 | positive |
Management also indicated that 19 abstracts related to Humira have been accepted for presentation at this year's American College of Rheumatology. | 0 | neutral |
16 report, "'Early Expensers' of Stock Options Could Underperform in 2H05.") � ADP raised FY06 EPS guidance from growth of 15-20% Y/Y to growth of 22-25%. | 1 | positive |
Our price target of $30 is based on a 10x P/E multiple based on our 2009 EPS estimate, which is currently at par with the 10x S&P500 market multiple (though we expect the market multiple to be closer to 13x-14x when consensus estimates are lowered to reflect the economic slow-down). | 0 | neutral |
Insurance/Non-Life / Rated: Market Underweight November 25, 2005. | 2 | negative |
The interest level in Oracle products seems to be blossoming with the Oracle developer program (Oracle Technology Network) now up to 430,121 and growing by 33,000 per month. | 1 | positive |
Sprint PCS simply has six rate plans and the only key decision the customer has to make is whether they want Vision or not. | 0 | neutral |
The new sections will offer targeted editorial environments, which will feature graphically bolder and more open looks than the regular sections. | 0 | neutral |
For example, accelerated Fed rate cuts and a recent steeper yield curve should help improve net interest income given that PNC is liability sensitive. | 1 | positive |
Expenses remained in check with the efficiency ratio improving to 52% from 52.8% in the prior quarter. | 1 | positive |
Today, Calpine has 14,000 MW of generating capacity in operation or under development, all of which is in the United States.. | 0 | neutral |
We are raising our estimates for the May and subsequent quarters, given improved DRAM pricing over the last several weeks. | 1 | positive |
At a slightly higher allowance price ($15/ton), we estimate the earnings impact to be equivalent to 40% of 2007 consensus EPS. | 0 | neutral |
Pulp prices and volumes showed strong sequential improvement. | 1 | positive |
Biotechnology (22% of continuing operations) sales rose 13.5% against the year's easiest comparison. | 1 | positive |
Management's guidance is significantly below our previous $2.10 estimate and consensus of about $1.90. | 2 | negative |
(We plan to publish a revised model for the EPO market shortly). | 0 | neutral |
We have lowered 2002 revenue from $1,008 million to $929 million and EPS from $0.93 to $0.74. | 2 | negative |
We think effective promotional activity capitalizing on the favorable impact of the Easter holiday shift may have played a role in driving some shorter-term CSD share gains in the US. | 1 | positive |
Last night, Lexmark announced that 2000 results would fall well below expectations due to currency, channel inventory reductions of inkjet cartridges, higher air freight costs and continued laser printer slowness. | 2 | negative |
According to our market sources, bid requests have doubled in recent weeks and leading-edge dayrates for high-end land rigs will likely increase by more than $1,000 per day during the latter half of the second quarter. | 1 | positive |
With demand still soft, operating rates for these products remain near 65% on average. | 2 | negative |
Windows Multiplatform By channel: VAR & end user 2-tier distribution OEM Inter'l (non-OEM): Deal #s: End user $100K+ End user $1M+ Median deal >$100K | 0 | neutral |
Further amendments/deletions of proposed changes are possible during this process. | 0 | neutral |
Going forward, we would expect the stock to steadily move back toward its historical forward valuation of 20 times as the cost and revenue story unfolds over the course of the year. | 0 | neutral |
A 1 MM unit variance for US auto demand would impact cash by approximately $2-$3 bn, including managed working capital. | 0 | neutral |
AMP is much more levered to asset management, while GNW has made its next biggest bet on mortgage insurance.. | 0 | neutral |
� Significantly, the call indicated that growth from price in US hips declined from 5% to 4% sequentially, the first decline in pricing outside of Stryker's price cut on ceramic hips. | 2 | negative |
target (how much invested was not specified), but noted that the investments did yield enough to offset the costs. | 0 | neutral |
We highlight that Convergys completed its previous 15 million share repurchase program during the fourth quarter 2002 bringing the company's total treasury share count to 17.8 million with an implied average price of approximately $20 per share based on recent filings.. | 0 | neutral |
The Hartford has completed building its $1 billion capital cushion. | 0 | neutral |
The company's IRP concluded that acquisition of gas-fired combined cycle generating capacity would be the best alternative to meet the capacity requirements mandated by the state. | 1 | positive |
MeadWestvaco's "other" businesses delivered relatively typical seasonal performance. | 0 | neutral |
As noted above, DG's distribution network is well situated to facilitate westward expansion; with 50%+ of its distribution capacity is in the Midwest, which is where we see the best opportunity for penetrating new markets. | 1 | positive |
years have been challenging some within his control and much without. | 2 | negative |
We believe these new salads could increase traffic, incremental sales and margins if implemented next year. | 1 | positive |
Under this assumption, current destocking could be sufficient, resulting in just a short-lived inventory correction; but we are not fully convinced, given the momentum of secular change in the industry. | 2 | negative |
This output was dedicated to serve Eastalco, an industrial customer, under a below market price contract. | 2 | negative |
T reduced guidance for 2Q01 with EPS outlook of $0.01-$0.04 due to expected Concert losses and broadband changes which should have positive effects in 2H01, and maintained its full year segment targets. | 2 | negative |
Delays F4Q06 results again CA delayed its F4Q06 and FY2006 results again this morning. | 2 | negative |
SOLID RESULTS, BUT SHORT OF A BLOWOUT In the month leading up to Safeway's Q1 earnings report, the stock ran 42% amid the Nasdaq swoon, and in. | 1 | positive |
Risks which may negatively affect our rating for the company include: interest rate risk, downturn/upturn in the overall housing market, changes in credit risk profile, changes in capital structure/adequacy, actions by ratings agencies, regulatory risk, performance of the equity and fixed income markets, and changes in the political landscape.. | 2 | negative |
Scott Davis and team, who cover Trane (TT, $45), have a $45 target on the company, not far below the announced deal value. | 0 | neutral |
The stock is also 60% below its high and down 20% year to date. | 0 | neutral |
This substantially generic sale contribution is our basis for valuation comparisons to other generic-oriented stocks. | 0 | neutral |
In the fourth quarter, tonnage continued to improve, approaching an all-time record. | 1 | positive |
It could mean that Sprint is looking to diversify its supplier base and influence pricing with Convergys, which has been an issue in the past with major accounts, and which we have factored into our EPS projections.. | 0 | neutral |
Earnings before goodwill (EBG) of $0.26 beat the Street consensus by $0.01 and our estimate of $0.24. | 1 | positive |
Europe, Africa, Middle East (EAME) Latin America. | 0 | neutral |
We calculate approximately 23% annual growth in free cash flow, which is defined as OCF less utility capital expenditures and dividend payments, between 2002 and 2003 to a level of $1.8 billion. | 0 | neutral |
On the plus side, overall F12-month printer/MFP spending intentions in US and Europe have improved in the last three months from 0.5% in June to 0.1% in September. | 1 | positive |
Ingersoll Rand--2008 Quarterly Sales and Earnings Model. | 0 | neutral |
trading), venture capital (up $24 mil.)--as well as higher deposit service charges (up $6 mil.) and consumer services fees (up $1 mil.), mitigated by slightly lower brokerage fees (down $1 mil.,) and PFPC results (down $1 mil.). | 0 | neutral |
We continue to look for 3.5% sales growth and 6�7% profit growth for Big G in F2000. | 1 | positive |