Zacks Bull and Bear of the Day Highlights: Whirlpool Corporation, SIRIUS XM Radio, Biogen Idec Inc., Elan Corp. and Acorda Therapeutics - Press Releases
For Immediate Release
Chicago, IL – January 14, 2010 – Zacks Equity Research highlights Whirlpool Corporation (WHR) as the Bull of the Day and SIRIUS XM Radio (SIRI) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Biogen Idec Inc.(BIIB), Elan Corp. (ELN) and Acorda Therapeutics (ACOR).
Full analysis of all these stocks is available at http://at.zacks.com/?id=5506
Here is a synopsis of all five stocks:
Whirlpool Corporation (WHR) is set to benefit from greater geographic flexibility in the face of deteriorated conditions in the U.S. and European markets. It enjoys a brand image developed through continued investment in innovating new products.
The company has a diversified product portfolio, which helps it to serve distinct markets across the world. It aims to mitigate the slackening demand by undertaking significant cost reduction actions. These actions, in turn, have helped the company to improve liquidity.
The company's earnings for the third quarter were much better than the Zacks Consensus Estimate. The results prompt us to upgrade the recommendation on Whirlpool from Neutral to Outperform with a target price of $92.
We downgrade our recommendation for SIRIUS XM Radio (SIRI) to Underperform following the emergence of alternative technology of commercial-free Internet radio and the extremely poor financial condition of the company.
According to our view, SIRIUS XM's business model is going to face serious competition from the upcoming subscription-free Internet radio programming that will automatically customized to one's personal tastes. In addition, a continuation of the global economic downturn, particularly the slowdown in the auto industry, remains cause of concern.
We did not find any growth catalyst that may result in upward movement of the stock price in the near-term. Our price target notches down a penny to 64 cents per share.
Latest Posts on the Zacks Analyst Blog:
Biogen’s Tysabri a Blockbuster
Biogen Idec Inc.(BIIB) recently announced that its multiple sclerosis (MS) drug Tysabri achieved blockbuster status in 2009. Sales of the drug, which is approved for relapsing forms of MS in the US and for relapsing-remitting MS in the EU, achieved $1 billion in sales in 2009. Tysabri is marketed by Biogen in collaboration with Elan Corp. (ELN).
In addition to reporting Tysabri sales, Biogen provided an update on other products and pipeline candidates. The company stated that it intends to grow Avonex and Rituxan sales through lifecycle management.
Meanwhile, Biogen recently submitted a marketing authorization application seeking approval from the European Medicines Agency for Fampridine prolonged release tablets. The company is seeking approval for the use of the candidate to improve the walking ability of adult patients with MS. Biogen is also seeking approval in Canada. Partner, Acorda Therapeutics (ACOR) has filed for approval in the US.
Biogen also has plans to commence a registrational trial with its recombinant Factor IX Fc fusion protein in hemophilia B patients and a phase I study with anti-LINGO-1 for MS in the first half of 2010.
While we are pleased to hear that Tysabri is now a blockbuster drug, we are concerned about the slowdown in the number of new patients adopting Tysabri. As of the end of December 2009, Biogen estimates that about 48,800 patients have been on commercial and clinical Tysabri therapy worldwide, up from 46,200 patients at the end of September 2009.
Get the full analysis of all these stocks by going to http://at.zacks.com/?id=5507.
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