For Immediate Release
Chicago, IL – August 20, 2010 – Zacks.com Analyst Blog features: Mindray Medical International Limited (MR), Endo Pharmaceuticals Holdings Inc. (ENDP), Penwest Pharmaceuticals Co. (PPCO), Apache Corporation (APA) and Chico's FAS, Inc. (CHS ).
Here are highlights from Thursday’s Analyst Blog:
Mindray Launches Ultrasound in U.S.
Mindray Medical International Limited (MR), a global Chinese medical device company, recently launched its latest M7 ultrasound system in the U.S. market. Mindray's new system utilizes its high-performance "System On Chip" (SOC) technology, thereby imparting a higher level of imaging capability to a portable system.
Mindray believes that the new M7 system provides good value to the customer by combining an economical price with differentiating attributes. This higher-end segment of the ultrasound business has recently experienced tremendous growth as more and more healthcare providers acquire sophisticated capability but in compact and portable form. Mindray hopes to capitalize on this shift in hospital purchasing behavior with its M7 offering, which will combine value and quality features, not always found in portable machines.
Endo Pharma to Buy Penwest
In a bid to sustain and drive growth in the area of pain management, Endo Pharmaceuticals Holdings Inc. (ENDP) recently agreed to acquire drug developer Penwest Pharmaceuticals Co. (PPCO). Through this deal, Endo Pharma will gain full access to a painkiller that was being co-developed by the companies. The deal, worth approximately $144 million or $5.00 per share in cash, has been approved by the Boards of both companies.
The companies have been co-developing an extended-release version of Opana (Opana ER) for treating moderate to severe pain in patients in need of continuous opioid treatment.
Apache's Egyptian Wells Go Online
Independent energy company Apache Corporation (APA) announced the discovery of oil in two locations of the Phiops Field through the Pepi-1X and Buchis South-1X exploration wells.
The company also released a report on the appraisal of the Faghur Basin in the oil and gas province of the Western Desert, southwest Egypt.
Chico's FAS Results in Line
Chico's FAS, Inc. (CHS ) reported second-quarter 2010 earnings of 17 cents per share, in line with the Zacks Consensus Estimate. The result also compares favorably with 10 cents earned in the second quarter of 2009. Net income was $30.5 million, compared with $18.0 million in the prior-year quarter.
Net sales in the second quarter 2010 were $465.4 million, up 10% year-over-year from $419.9 million in the prior year period. The advance reflects a 9% year-over-year increase in Chico's/Soma Intimates sales coupled with a 16% year-over-year increase in White House Black Market (WHBM) sales. Net sales were, however, lower than the Zacks Consensus Estimate of $470.0 million. Direct-to-consumer sales were $27.6 million, up 36% year-over-year.
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APACHE CORP (APA): Free Stock Analysis Report
CHICOS FAS INC (CHS): Free Stock Analysis Report
ENDO PHARMACEUT (ENDP): Free Stock Analysis Report
MINDRAY MEDICAL (MR): Free Stock Analysis Report
PENWEST PHARM (PPCO): Free Stock Analysis Report
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