For Immediate Release
Chicago, IL – September 21, 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: Lennar Corporation (LEN), VeriChip (CHIP), Sanofi-Aventis SA (SFY), AstraZeneca (AZN) and Novartis AG (NOV).
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Here are highlights from Monday’s Analyst Blog:
Lennar Predicts Profit in 2010
Lennar Corporation (LEN) one of the nation’s largest home builders, predicts a return to profitability in 2010 as it targets the hot market of first time homebuyers and those looking for more bang for their buck.
The company reported third-quarter results today which surprised on the Zacks Consensus Estimate by 27 cents even as new orders fell 8% year over year.
Earnings per share were a loss of 21 cents compared to the Zacks Consensus Estimate of a loss of 48 cents.
The company saw improvement during each month of the quarter as well as sequentially.
Despite the forward-looking optimism, the declines continued across most metrics compared to the third quarter of 2008. Revenues continued to fall, sliding 35% compared to the year ago period. Deliveries sank 29% to 2,691 while new orders fell to 3,104.
VeriChip Blasts Off on H1N1 Win
An announcement today regarding the exclusive license granted to controversial chip-implant maker VeriChip (CHIP) for H1N1 detection sent CHIP shares hurtling nearly out of orbit — up 178%, or over $2 per share — to around $3.20 by Monday afternoon. Other news reports have cited that this is the biggest intra-day gain since the company went public in February 2007.
VeriChip’s development partner, RECEPTORS LLC, has granted exclusive rights to VeriChip to develop one of its patents based on the “virus triage detection system” used to treat H1N1 virus, commonly known as “swine flu”. The H1N1 virus sent shockwaves of worry about a dangerous pandemic developing world-wide, and just last week came FDA approval of the first treatments of the virus from Sanofi-Aventis SA (SFY), CSL Ltd, MedImmune (now a subsidiary of AstraZeneca (AZN) and Novartis AG (NOV).
VeriChip is best known for its human-implantible RFID (radio frequency identification) chip, which has sparked controversy from civil rights groups and religious organizations alike. Some opponents of the technology have derided VeriChip products as “spy chips.”
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