For Immediate Release
Chicago, IL – October 15, 2009 – Zacks Equity Research highlights Sangamo Biosciences, Inc. (SGMO) as the Bull of the Day and Conmed (CNMD) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Intel Corp. (INTC), JPMorgan Chase & Company (JPM) and CSX Corp. (CSX).
Full analysis of all these stocks is available at http://at.zacks.com/?id=2676
Here is a synopsis of all five stocks:
Sangamo Biosciences, Inc. (SGMO) uses a proprietary ZFP gene regulation technology to discover and develop a new class of therapeutic candidates for diabetic neuropathy, cardiovascular disease, cancer and immune diseases.
We are optimistic about this novel technology. SB-509 has shown some positive results for the treatment of moderate to severe DN. We are also optimistic about other clinical programs. Further, we are impressed by the company’s strategy to monetize this ZFP technology.
We maintain our Outperform rating on shares of Sangamo based on the platform technology and the progress the company has made for both its clinical and preclinical programs. Our target price is $10.00.
Conmed (CNMD) operates in highly competitive markets against competitors that are much larger, technically competent and possess substantially more assets.
Additionally, many of these competitors offer a range of products not matched by Conmed, which may make Conmed’s offerings less attractive to surgeons, hospitals and group purchasing organizations that are trying to reduce the number of vendors they do business with. In the second quarter, earnings per share were 17 cents, compared to the Zacks Consensus Estimate of 16 cents and the year-ago earnings of 43 cents.
We have an Underperform rating on Conmed with a target price of $18.
Latest Posts on the Zacks Analyst Blog:
Intel Looking Stronger than Ever
Intel Corp. (INTC) reported very strong earnings in the third quarter, beating the Zacks Consensus Estimate by 6 cents. Revenue beat the consensus by 3.9%.
Revenue of $9.4 billion was up 17.0% sequentially and down 8.1% year over year. This was higher than management’s expectation of around $8.5 billion, or up 5.9% sequentially. Management stated that this was the strongest third quarter sequential growth the company has seen in 30 years.
JPMorgan Beats, Profit Surges
JPMorgan Chase & Company’s (JPM) third quarter earnings came in at 82 cents per share, substantially ahead of the Zacks Consensus Estimate of 49 cents. This compares favorably with 9 cents in the prior-year quarter.
Better-than-expected results were primarily aided by continued strong performance by the Investment Bank group. All the other segments except Consumer Lending and Card Services also delivered solid results during the quarter. However, a continuation of high levels of credit costs in Consumer Lending and Card Services loan portfolios and an increased provision for credit losses were the primary factors that negatively impacted the results.
CSX Ahead of Expectations
CSX Corp. (CSX) reported earnings from continuing operations of $293 million or 74 cents per share, ahead of the Zacks Consensus Estimate of 71 cents per share.
Earnings were down $380 million or 93 cents per share in the prior year period. The decline was brought about by lower revenues, partially offset by reduced expenses.
Revenue for the period fell 23% to $2.3 billion due to significant declines in both volume and fuel recovery. However, management said that core pricing momentum has remained intact. CSX Corp. witnessed a 15% decline in volume during the quarter, led by a decline in shipments of coal, cars, construction and consumer goods.
Get the full analysis of all these stocks by going to http://at.zacks.com/?id=5507.
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