Zacks Analyst Blog Highlights: American International Group Inc., MetLife Inc., Prudential Plc., Microchip Technology Incorporated and Novatel Wireless Inc. - Press Releases

For Immediate Release

Chicago, IL – May 10, 2010 – Zacks.com Analyst Blog features: American International Group Inc. (AIG), MetLife Inc. (MET), Prudential Plc. (PUK), Microchip Technology Incorporated (MCHP) and Novatel Wireless Inc. (NVTL).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Friday’s Analyst Blog:

AIG Profits on Investment Results

American International Group Inc. (AIG) reported first-quarter earnings of $809 million or $1.21 per share, significantly ahead of the Zacks Consensus Estimate of 48 cents. The company incurred a loss of $2.1 billion or $22.90 per share in the year-ago period.

AIG, which received federal support worth $182.5 billion that helped prevent its collapse in September 2008, has been trying for the past several quarters to sell assets and streamline its operations in an effort to repay the bailout money.

AIG also struck two deals earlier in March. It will sell its American Life Insurance Co. (ALICO) unit for about $15.5 billion to MetLife Inc. (MET) and its Asian life-insurance unit, American International Assurance (AIA), to the U.K.’s Prudential Plc. (PUK) for about $35.5 billion. Both the transactions are expected to close by the end of 2010.

Microchip Saw Growth Across the Board

Microchip Technology Incorporated (MCHP) reported net sales of $278.0 million in the fourth quarter 2010, up 12% sequentially and 60.5% year over year.

Growth was seen across the board in the quarter, across all geographies as well as the three product lines – Microcontrollers, Analog and Serial EEPROMs.

Geographically, revenue in the Americas was up 12.5%, Europe was up 22% and Asia was up 5.6%. In particular, growth was strongest in Asia (accounting for 49.6% of total sales) due to the Chinese Lunar Year.

Novatel Beats, Outlook Disappoints

Recently, Novatel Wireless Inc. (NVTL) declared first quarter 2010 financial results that beat the Zacks Consensus Estimates. However, the company’s second quarter 2010 outlook was below expectations.

First quarter total revenue of $72.24 million was up 2.6% year over year and was also above the Zacks Consensus Estimate of $71 million. This reflects higher sales of Novatel’s MiFi line of Intelligent Mobile Hotspots products, currently constituting 47% of the total revenue.

Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Follow us on Twitter: http://twitter.com/zacksresearch

Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Contact:
Mark Vickery
Web Content Editor
312-265-9380
Visit: www.zacks.com