For Immediate Release
Chicago, IL – October 28, 2009 – 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: Johnson Controls (JCI), CF Industries Holdings Inc. (CF), Agrium Inc. (AGU), Terra Industries Inc. (TRA) and Hospira (HSP).
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Here are highlights from Tuesday’s AnalystBlog:
Johnson Controls Maintains Profits
Johnson Controls (JCI) posted a profit of $402 million or 52 cents per share, excluding non-recurring items, for the fourth quarter of its fiscal year ended Sept. 30, 2009. This was above the Zacks Consensus Estimate of 48 cents per share. The company reported positive numbers despite weakened North American automotive and residential heating, ventilating and air conditioning (HVAC) markets.
In the last quarter, the Wisconsin-based supplier of automotive interiors, batteries and other control equipment returned to profitability after posting losses since the first quarter of fiscal 2008. However, the profits were down from $511 million or 73 cents per share in the fourth quarter of last fiscal year.
Consolidated net sales tumbled 15% to $7.9 billion. Segment income decreased to $409 million from $605 million in the prior-year quarter.
CF’s Profits Plunge in 3Q
CF Industries Holdings Inc. (CF) is prepared for a reasonably good fall application season (weather permitting) and solid spring demand due to attractive corn farming economics and restocking needed in the downstream fertilizer channels.
The industry has been under strong consolidation pressure with prices declining sharply. CF Industries is involved in a three-way merger battle with Agrium Inc. (AGU) and Terra Industries Inc. (TRA). Since the beginning of 2009, Terra has repeatedly rebuffed CF’s takeover offer, while itself being the takeover target of Agrium. Last month, CF acquired a 7% stake in Terra. We maintain our Neutral recommendation on the stock.
Hospira Surges Ahead
Hospira (HSP) reported third quarter earnings of 90 cents per share, well above both the Zacks Consensus Estimate of 68 cents and 63 cents per share in the year-ago period. Revenues increased 8.9% to $1 billion, primarily driven by growth in Specialty Injectable Pharmaceuticals (SIP).
SIP revenues increased 25.6% from the year-ago period (at constant exchange rates, CER) to $575.7 million while revenues from the Other Pharma segment came down 8.4% to $157.4 million. The strong growth in the SIP segment was driven by the launch of the generic oncolytic oxaliplatin in the quarter.
Unlike the previous quarter, revenues from Medication Management Systems (MMS) increased 1.7% year over year at CER to $162.6 million. However, Other Devices continued to fall in the reported quarter and recorded revenues of $111.8 million, down 6.4% from the year ago period.
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