For Immediate Release
Chicago, IL – February 10, 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: Becton, Dickinson and Company (BDX), Baxter International Inc. (BAX), Johnson & Johnson (JNJ), Abbott Laboratories (ABT) and Nissan Motor Co. (NSANY).
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Here are highlights from Tuesday’s Analyst Blog:
Becton Recalls Catheters
Becton, Dickinson and Company (BDX) recently started expanding the recall of its catheters as a result of a manufacturing problem that could cause fatal embolisms or blood leakage. Becton is recalling its defective Q-Syte Luer Access Devices and Nexiva Closed IV Catheter Systems. The company started the initial recall of these products on Oct 28, 2009.
Becton is in constant touch with the U.S. Food and Drug Administration (FDA) and worldwide health agencies to coordinate the recall. The Nexiva products have two Q-Syte devices within the package that could be affected. The Q-Syte devices are used with intravenous systems.
Becton has already recalled roughly 2.8 million Q-Syte and 2.9 million Nexiva units containing 5 million Q-Syte devices. Becton, Dickinson has identified the root cause of the manufacturing problem and has corrected it, according to the company.
We think that the product recall will have a minimal impact on Becton, Dickinson’s bottom-line. The company recently reported strong first quarter fiscal 2010 results. Earnings per share of $1.30 easily beat the Zacks Consensus Estimate of $1.20 and the year-ago earnings of $1.26. Becton also reported an expansion in its top-line with growth across all major business segments.
Becton, Dickinson and Company develops, manufactures and markets medical devices, supplies, laboratory equipment and diagnostic products globally. The company is a world leader in safety needle products. Becton competes with players like Baxter International Inc. (BAX), Johnson & Johnson (JNJ) and Abbott Laboratories (ABT).
Presently, we have a Neutral recommendation on Becton.
Nissan Results Improve
Nissan Motor Co. (NSANY) has revealed a net income of ¥45 billion ($480 million) for the third quarter of its fiscal ended December 31, 2009, in sharp contrast to a loss of ¥83.2 billion ($810 million) in the same period a year ago. The improvement was attributable to additional sales driven by scrapping incentives in major markets, sales growth in China and measures adopted to combat the global financial and economic crisis.
Revenue in the quarter rose 10% to ¥1.9962 trillion ($21.33 billion). Operating profit was ¥134.1 billion ($1.43 billion) compared to an operating loss of ¥99.2 billion ($960 million). The operating profit margin stood at 6.7%.
Globally, Nissan sold 882,000 vehicles in the quarter, a 20.6% increase over the same period in fiscal year 2008. In January, Nissan was the only automaker among its Japanese peers to post a sales gain of 16.1% to 62,572 vehicles. This was attributable to the automaker’s boost to incentive spending by 14% to $2,455 in January. Sales at Nissan Division rose 19.4% to 55,861 units, while sales of Infiniti vehicles declined 5.7% to 6,711 units during the month.
Nissan has upgraded its outlook for fiscal 2009 ended March 31, 2010, based on improved market conditions. The automaker expects to generate revenues of ¥7.4 trillion ($80.43 billion) compared to ¥7 trillion ($77.78 billion) in its previous forecast. Operating profit is expected to be ¥290 billion ($3.15 billion), an improvement from ¥120 billion ($1.33 billion) in the previous forecast.
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