For Immediate Release
Chicago, IL – November 12, 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: Macy’s Inc. (M), Nissan (NSANY), Priceline.com (PCLN), General Electric Co. (GE) and United Technologies Corp. (UTX).
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 Wednesday’s Analyst Blog:
Macy’s Raises Earnings Guidance
Macy’s Inc. (M) recently reported third-quarter 2009 results. The company posted a loss of 3 cents a share that outshined the Zacks Consensus Estimate loss of 9 cents, and improved substantially from a loss of 8 cents delivered in the prior-year quarter.
Effective inventory management and division consolidation to lower costs helped the company to post a narrower quarterly loss.
The better-than-expected results prompted management to raise its earnings guidance. Macy’s now expects full year 2009 earnings in the range of $1.01 to $1.06 per share, up from the previously anticipated 70 cents to 80 cents a share. For the fourth-quarter 2009, earnings are expected between $1.00 and $1.05 per share.
On a reported basis, including one-time items, Macy’s reported a quarterly loss of 8 cents a share, an improvement over a loss of 10 cents delivered in the year-ago quarter.
Nissan to Build World’s Cheapest Car
Carlos Ghosn, the Chief Executive of the alliance Renault and Nissan (NSANY), has revealed that the company will roll out a small car with its Indian partner, Bajaj Auto, that will be cheaper than any other car in India — and in the world. The car, which is scheduled for launch in India in 2012, would beat India’s largest automaker Tata Motors’ Nano both in terms of pricing and fuel-efficiency, and become the world’s cheapest car.
Presently, Tata Nano is the world’s cheapest car. The car has a starting price of about Rs100,000 ($2,150). When Renault and Bajaj started discussing on their “ultra low-cost” car 2 years ago, it has been revealed that the car would have been priced between $2,500 and $3,000. However, at the World Economic Forum meeting in New Delhi, India, Mr.Ghosn announced that the ultra low-cost car would be cheaper than the Nano.
So far, India’s bottom-end motor vehicles market has been well known for motorcycles. After the hearty response to the Tata Nano, automakers around the world realized the huge market potential for small cars in India. Hence the initiative for the world’s cheapest car.
Priceline Beats, Guidance Strong
Priceline.com (PCLN) reported very strong third quarter results, with earnings beating the consensus by 57 cents and revenue beating by 5.3%.
Revenue of $730.7 million was up 21.0% sequentially and 30.1% year over year. The significant increase from the year-ago quarter was helped by easier comps as the third quarter of 2008 was impacted by the recession, while the third quarter of 2009 benefited from strengthening demand.
Revenue growth was driven by significantly higher room night volumes, which offset the decline in average daily rates (ADRs). Room nights increased 14.1% sequentially and 56.3% year over year. Both airline ticket units and rental car days declined sequentially, although they were up 30.2% and11.6%, respectively from the year-ago quarter.
GE to Sell Security Systems
General Electric Co. (GE) is in talks to sell its security systems unit, most likely to United Technologies Corp. (UTX), for more than $1.5 billion in an effort to reshuffle its extensive portfolio and raise capital for strategic acquisitions.
United Technologies Corp. is a diversified company whose products include Carrier heating and air conditioning, Hamilton Sundstrand aerospace systems and industrial products, Otis elevators and escalators, Pratt & Whitney aircraft engines, Sikorsky helicopters, UTC Fire & Security systems and UTC Power fuel cells. The company has been lately looking to expand its security business.
GE’s move to sell its fire alarms and security division comes as it is finalizing a bigger deal to hive off its NBC Universal television and movie unit into a joint venture controlled by the cable operator Comcast. Strategically, GE wants to raise funds to expand its core businesses – which include infrastructure, oil and gas equipment, and energy – partly by hiving off peripheral divisions.
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
