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Earnings Roundup For June 8
Wednesday, June 8, 2011 - 9:08am | 467Layne Christensen Co (NASDAQ: LAYN) reported stronger-than-expected first-quarter results on Wednesday. LAYN reported its quarterly net income at $13.1 million, or $0.66 per share, up from $6.6 million, or $0.34 per share, in the year-ago period. Excluding one-time items, LAYN's earnings came in at...
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UPDATE: Cantel Medical Reports 18% Surge In Q3 Net Income
Wednesday, June 8, 2011 - 9:04am | 168Cantel Medical Corp (NYSE: CMN) reported an 18% rise in its net income for the third quarter on Wednesday. Cantel Medical reported its quarterly net income at $5,048,000, or $0.29 per share, compared with a net income of $4,274,000, or $0.25 per share, in the year-ago period. Its sales surged 24%...
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J.P. Morgan Overweight On Covidien
Wednesday, June 8, 2011 - 7:52am | 153J.P. Morgan Chase & Co. has an Overweight rating and a $62 price target on shares of Covidien (NYSE: COV). In a note to investors, J.P. Morgan writes, "Bloomberg reported Tuesday evening that Covidien's Pharma business is for sale, citing sources “with knowledge of the matter.” This idea has...
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A Peek Into The Market Before The Trading Starts
Wednesday, June 8, 2011 - 7:39am | 381Pre-open movers US stock futures are lower this morning after Federal Reserve Chairman Ben Bernanke's speech. Investors are awaiting the Fed's recent summary of regional conditions. Futures on the Dow Jones Industrial Average dropped 53 points to 12,019.00 and futures on the S&P 500 stock index...
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Covidien Files Counterclaims Against Applied Medical Corporation
Wednesday, June 8, 2011 - 7:25am | 92Covidien (NYSE: COV) today announced that a subsidiary of the Company filed an answer and counterclaims against Applied Medical Resources Corporation for patent misuse, non-infringement and invalidity. The action is related to Applied's recent claim against unspecified Versaport Plus trocar...
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Earnings Scheduled For June 8
Wednesday, June 8, 2011 - 1:46am | 288Pall Corporation (NYSE: PLL) is projected to report its FQ3 EPS at $0.71 on revenue of $667.50 million. Cantel Medical Corp (NYSE: CMN) is expected to report its Q3 EPS at $0.31 on revenue of $76.17 million. Men's Wearhouse Inc (NYSE: MW) is estimated to report its Q1 EPS at $0.49 on revenue of...
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Top 4 Small-Cap Stocks In The Medical Instruments & Supplies Industry With The Lowest PEG Ratio
Wednesday, June 8, 2011 - 1:41am | 121Below are the top small-cap medical instruments & supplies stocks on the NYSE and the NASDAQ in terms of PEG ratio China Medical Technologies Inc (NASDAQ: CMED) has a PEG ratio of 0.31. CMED's trailing-twelve-month operating margin is 25.73%. Kensey Nash Corporation (NASDAQ: KNSY) has a PEG...
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Cyberonics Announces Expansion of Share Repurchase Program
Tuesday, June 7, 2011 - 5:01pm | 77Cyberonics, Inc. (NASDAQ: CYBX) today announced that its board of directors has approved a new share repurchase program. The company's board of directors had previously authorized a repurchase of up to 1.0 million shares, of which a total of 767,000 shares were repurchased. In its action earlier...
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Top Percentage Gainers and Losers as of 2pm 06/07/11
Tuesday, June 7, 2011 - 2:27pm | 642Best 1) Temple-Inland (NYSE: TIN): Trading up 41.3% from yesterday's close to $29.67. International Paper put in a bid to acquire Temple-Inland for $30.60 per share. Temple's board rejected the deal, saying that the bid undervalued the company. 2) Westinghouse Solar (NASDAQ: WEST): Trading up 28...
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Top Percentage Gainers and Losers as of 12pm 06/07/11
Tuesday, June 7, 2011 - 12:00pm | 515Best 1) Temple-Inland (NYSE: TIN): Trading up 39.8% from yesterday's close to $29.37. International Paper (NYSE: IP) put in a bid to acquire Temple-Inland for $30.60 per share. Temple's board rejected the deal, saying that the bid undervalued the company. 2) Westinghouse Solar (NASDAQ: WEST):...
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Puts Purchased on China Medical Technologies
Tuesday, June 7, 2011 - 11:37am | 120Shares of China Medical Technologies (NASDAQ: CMED) are lower on the session by 12.30%, currently trading at $8.06. The stock has been moving largely lower over the past four months and is currently trading below the 200-day moving average. Options traders are buying puts on the name today. A...
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Options Brief: Edwards Lifesciences Corporation
Tuesday, June 7, 2011 - 10:05am | 85Shares of Edwards Lifesciences Corporation (NYSE: EW) are higher on the session by 0.02%, trading at $86.03. Overall put volume is now running at 5.55x the daily average, with 37% of all puts traded being purchases on the offer. 1,403 contracts have traded on the session so far. Edwards...
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Oppenheimer Maintains OP Rating, $25 PT on Insulet Corporation
Tuesday, June 7, 2011 - 9:08am | 148Oppenheimer is maintaining its $25 PT on shares of Insulet Corporation (NASDAQ: PODD) while maintaining its Outperform rating on the stock. “We are updating our model and reiterating our Outperform rating following PODD's announcement that it will acquire Neighborhood Diabetes,” Oppenheimer writes...
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UPDATE: Dougherty Lowers PT on Cyberonics to $36
Tuesday, June 7, 2011 - 8:52am | 74Dougherty is out with its report today on Cyberonics (NASDAQ: CYBX), lowering its PT to $36. In a note to clients, Dougherty writes, "Using 26x our fiscal 2013 estimate of $1.40 is how we arrive at our $36.00 price target. We see upside potential to our price target due to CYBX's superior free...
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Smith & Nephew Endoscopy Patent Infringement Case Against Arthrex Proceeds to Oregon Court on June 13
Tuesday, June 7, 2011 - 8:37am | 262Smith & Nephew (NYSE: SNN) announced today that the next phase of its patent infringement case against Arthrex Inc. (Naples, Fla.) -- claiming that use of Arthrex's Bio-SutureTak, PEEK SutureTak and PushLock suture anchors infringe a U.S. patent owned by Dr. John O. Hayhurst and under exclusive...