For Immediate Release
Chicago, IL – February 5, 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: Deutsche Bank AG (DB), Health Net (HNT), UnitedHealth (UNH), Monster Worldwide, Inc. (MWW) and Yahoo! (YHOO).
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Here are highlights from Thursday’s Analyst Blog:
Deutsche Bank Turns a Profit
Deutsche Bank AG (DB) reported a fourth quarter net income of €1.3 billion ($1.9 billion) or €2.00 a share, compared to a net loss of €4.8 billion or €8.71 per share a year earlier. Results were primarily driven by a tax benefit. Additionally, the company experienced an increase in sales and trading revenue in the quarter.
The company experienced a €554 million gain from tax benefits in the reported quarter as a result of the recognition of deferred tax assets in the U.S. of €790 million.
For the full year, the bank earned €5.0 billion ($6.95 billion) or €7.59 per share. This compares with a loss of €3.9 billion or €7.61 in 2008. The results in the prior-year period were significantly impacted by the global economic crisis.
Deutsche Bank’s net revenue for the fourth quarter was €5.5 billion ($8.12 billion) compared to a negative €853 million in the prior-year quarter.
Health Net Tops Marginally
Health Net (HNT) reported fourth quarter earnings per share (EPS) of 69 cents, surpassing the Zacks Consensus Estimate of 67 cents and the year-ago quarter’s 61 cents.
For the full year 2009, EPS came in at $2.25 compared to $1.85 of 2008. This is excluding $137.3 million in charges associated with the sale of its Northeast business operations to UnitedHealth (UNH) in Dec 2009. Taking into account these charges, the company reported a fourth quarter net loss of 43 cents per share compared with EPS of 34 cents reported in the year-ago period.
Health Net reported $3.8 billion (1.8% down year-over-year) and $15.7 billion (2.2% decline) in revenues for the fourth quarter and full year, respectively. The primary reason for the decline was reduced membership due to a rise in unemployment.
The company earns revenues in the form of health plan service premiums, government contracts, net investment income and administrative services, fees and other income. Quarterly health plan services premium, accounting for approximately 79% of total revenues, declined 3% year-over-year to $2.9 billion. Revenues from government contracts increased marginally to $754 million during the reported quarter.
Monster Reports In-Line Numbers
Monster Worldwide, Inc. (MWW) reported revenues of $213 million in the fourth quarter, down 27% year over year. Total revenues were positively impacted by approximately $8 million due to movement in foreign exchange rates. The company generated 42% of its revenues outside the United States.
The company operates in three business segments: Monster Careers-North America, Monster Careers-International, and Advertising & Communications.
In the fourth quarter, Careers-North America generated revenues of $91 million, down 33% year over year. Careers-International revenue decreased 28% to $88 million Internet Advertising & Fees generated revenue of $34 million, a slight increase over the $33 million reported in the year-ago quarter.
Monster reported a loss from continuing operations of 1 million or 1 cent per share, compared to an income of $28 million, or 24 cents per share in the year-ago quarter. This was in line with the Zacks Consensus Estimate.
During the quarter, Monster generated $33 million of cash from operating activities and used $10 million in capital expenditures.
As of Dec 31, 2009, the company had a deferred revenue balance of $306 million, compared to $414 million in the year-ago quarter and $266 million in the third quarter.
Monster ended the quarter with cash and equivalents of $275.4 million, up from $222.2 million at the end of 2008.
For full 2009, Monster reported revenues of $905 million, down 33% year over year. The company reported an income from continuing operations of $19 million or 16 cents per share, compared to income from continuing operations of $114 million or 94 cents per share in the year-ago quarter.
Monster also announced that it entered into a definitive agreement with Yahoo! (YHOO) under which it will acquire the assets of Yahoo! HotJobs, a leading online recruitment website. Additionally, Monster and Yahoo! have entered into a multi-year commercial traffic agreement, wherein in Monster will become Yahoo!’s provider of career and job content on the Yahoo! Homepage in the United States and Canada.
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