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Haemonetics Stays Neutral

Tags: HAE, BAX, ABT, MDT
13 Mar 1:05am
Posted by ZacksResearch
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We continue to maintain our “Neutral rating on Haemonetics Corporation (HAE) with a target price of $58 based on a P/E of 18.1x our fiscal 2011 EPS estimate of $3.20. Haemonetics’ third quarter fiscal 2010 results were mixed.   Earnings per share of 71 cents narrowly missed the Zacks Consensus Estimate of 72 cents. However, earnings were better than 63 cents in the year-ago quarter.  Total sales in the third quarter increased 6.3% year over year to $165.2 ...
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Earnings Scorecard: Hormel

Tags: hrl
17 Mar 6:37am
Posted by ZacksResearch
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Last month, Hormel Foods Corporation (HRL) reported encouraging results for the first quarter of fiscal 2010. During the quarter, net earnings were $111.2 million, up 37% from $81.4 million in the same quarter of fiscal 2009. EPS for the quarter was 82 cents, compared to 60 cents in the year-ago quarter. It exceeded the market expectation of 68 cents per share. Thus, the company raised its full year EPS guidance range from $2.63 to $2.73 per share to $2.68 to $2.78. Agreement Based...
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Pay Czar Caps GMAC Executives

Tags: gjm, c, aig
17 Mar 6:19am
Posted by ZacksResearch
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Pay czar Kenneth Feinberg has put a cap on the compensation for top executives at auto finance company GMAC Inc. (GJM), which continues to post losses without any likelihood of repaying the $16.3 billion of funds that it had received under the Troubled Asset Repurchase Program (TARP).   Michael Carpenter, a 62-year-old ex-Citigroup Inc. (C) executive was appointed as the CEO of GMAC in November 2009. He had been on the board since May 2009. Carpenter will only receive compensat...
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Fiserv to Repurchase Shares

Tags: fisv
17 Mar 6:01am
Posted by ZacksResearch
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Fiserv, Inc. (FISV) announced that its Board has authorized it to repurchase up to five million additional shares of its common stock -- approximately 3% percent of its outstanding shares. As of March 1, 2010, the company had approximately one million shares remaining in its previous repurchase authorization. Fiserv repurchased 1.1 million shares of its common stock in the last quarter and 4.1 million shares in 2009. Under the new authorization, Fiserv may repurchase shares in the o...
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Earnings Scorecard: Costco

Tags: cost
17 Mar 5:49am
Posted by ZacksResearch
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Costco Wholesale Corporation (COST), one of the leading U.S. warehouse club operators, reported fiscal second-quarter 2010 earnings that missed the Zacks Consensus Estimate by a penny, though they were up significantly from the prior-year quarter. Total revenue climbed 11.3% year-over-year, with comparable-store sales up 9%, reflecting a comparable sales growth of 5% at U.S. locations and 26% gain at the international divisions. Rising gasoline prices and a weaker U.S. dollar were he...
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