For Immediate Release
Chicago, IL – October 13, 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: Royal Philips Electronics (PHG), Sony Corporation (SNE), General Electric Company (GE), Panasonic Corporation (PC) and Nucor Corporation (NUE).
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Here are highlights from Monday’s Analyst Blog:
Philips Misses Zacks Consensus
Royal Philips Electronics (PHG) reported earnings of 27 cents per share for the third quarter of 2009, below the Zacks Consensus Estimate of 38 cents.
Sales amounted to $8.04 billion, a decline of 11% on both nominal and comparable bases.
Healthcare sales declined by 4% on a comparable basis due to declines at Clinical Care Systems, Imaging Systems and Healthcare Informatics.
Consumer Lifestyle sales fell by 15% on a comparable basis, due to declines in all businesses except Health & Wellness.
Lighting sales declined by 13% on a comparable basis, led by double-digit declines at Professional Luminaires, Lighting Electronics and Automotive Lighting.
In mature markets, double-digit declines at Lighting and Consumer Lifestyle were offset by a mid-single digit decline at Healthcare.
Sales in emerging markets showed sequential improvement although it remained 11% below the level achieved in the corresponding prior-year quarter.
The Group cash balance increased by €145 million to €3.7 billion, driven by free cash inflow of €353 million, partly offset by €172 million in payments for acquisitions. Operating activities generated cash inflow of €470 million compared to €210 million in the corresponding quarter of prior year.
Inventories as a percentage of sales rose by 70 basis points to 14% at the end of the quarter. Net debt at the end of the quarter amounted to €0.6 billion compared to €1.5 billion at the end of the prior-year quarter. Group equity remained stable at €13.4 billion.
Royal Philips Electronics, headquartered in the Netherlands, integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Major competitors include Sony Corporation (SNE), General Electric Company (GE) and Panasonic Corporation (PC).
High-Cost Inventory Hurts Nucor
U.S.’s largest recycler of steel scrap, Nucor Corporation (NUE), has announced its guidance for its third quarter ending Oct. 3, 2009. Nucor expects losses of 15 cents to 20 cents per share in the quarter. The Zacks Consensus Estimate expects a loss of 15 cents.
Helped by increased sales volumes, Nucor posted a second quarter loss narrower than the Zacks Consensus Estimate. Net loss in the quarter was $133.3 million or 43 cents per diluted share. This was against a net loss of $189.6 million or 60 cents per diluted share in the prior quarter of 2009, an improvement of 30%.
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