For Immediate Release

Chicago, IL – April 23, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Amgen (AMGN), Pfizer (PFE), GlaxoSmithKline (GSK), The New York Times Company (NYT) and Gannett Co. Inc. (GCI).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Thursday’s Analyst Blog:

Amgen Beats but Tones Down Outlook

Amgen (AMGN) reported first quarter earnings per share of $1.28, 5 cents above the Zacks Consensus Estimate of $1.23 and well above the year-ago earnings of $1.07. Total revenues increased 9% to $3,592 million with US and international sales increasing 7% and 16%, respectively.

US sales were adversely impacted by $33 million due to the implementation of health care reform provisions. Meanwhile, international sales were boosted by $39 million due to the favorable impact of foreign exchange (Fx) fluctuation.

Both R&D and SG&A expenses at Amgen increased during the quarter. The 2% increase in R&D spend was mainly due to higher staff-related costs and lower expense recoveries from ongoing collaborations. This was partially offset by lower clinical trial costs primarily for denosumab.

SG&A expenses increased 13% during the quarter primarily due to increased spending for activities in preparation and anticipation of approval and launch of Prolia, higher expenses associated with the Pfizer (PFE) profit sharing arrangement for Enbrel, higher staff-related costs and litigation expenses. These were partially offset by expense recoveries related to the GlaxoSmithKline (GSK) collaboration for Prolia.

New York Times Earnings Jump

The New York Times Company (NYT) has posted better-than-expected first-quarter 2010 results that topped Zacks expectations on the heels of significant cost-cutting measures, newspaper price increase and improving trends in the advertising environment.

The quarterly earnings of 11 cents a share surpassed the Zacks Consensus Estimate of 4 cents, and rose substantially from a loss of 34 cents delivered in the prior-year quarter.

On a reported basis, including one-time items, quarterly earnings came in at 8 cents a share compared to a loss of 52 cents posted in the year-ago quarter.

The publisher of The New York Times and The Boston Globe indicated that both digital and print advertising revenue trends were improving as the economy eases. Another media conglomerate, Gannett Co. Inc. (GCI) also hinted at an improvement in the advertising environment helped by strengthening economies of the U.S. and U.K.

The rate of fall in the top-line decelerated during the quarter. After plunging 11.5% in fourth-quarter 2009, the rate of decline in total revenue shrunk to 3.2% year-over-year to $587.9 million.

Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks “Profit from the Pros” e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Follow us on Twitter: http://twitter.com/zacksresearch

Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com

 

 

Zacks Investment Research