Zacks Analyst Blog Highlights: Sprint Nextel, Verizon, AT&T, King Pharmaceuticals, Inc. and Acura Pharmaceuticals, Inc. - Press Releases
For Immediate Release
Chicago, IL – April 27, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Sprint Nextel (S), Verizon (VZ), AT&T (T), King Pharmaceuticals, Inc. (KG) and Acura Pharmaceuticals, Inc. (ACUR).
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 Monday’s Analyst Blog:
Earnings Preview: Sprint
Sprint Nextel (S) is slated to report first-quarter 2010 results on Wednesday, April 28, 2010, ahead of the opening bell. The third-largest U.S. wireless carrier has not released any financial forecasts for the quarter. The current first quarter Zacks Consensus Estimate is a loss per share of 17 cents.
In its fourth-quarter conference call, Sprint stated that it expects improvement in both postpaid and total subscriber losses in 2010 compared to the last year. Moreover, the carrier expects to continue generating positive free cash flow in 2010, driven by the ongoing cost-cutting measures. Sprint generated $2.8 million in free cash flow in 2009, the highest ever in the company’s history.
Sprint is well positioned to leverage the growing wireless smartphone market in the U.S., leveraging a rich portfolio of popular smartphones. Moreover, to improve subscriber retention, its Boost Mobile subsidiary is offering a popular $50 unlimited prepaid plan across all wireless network platforms.
Sprint continues to lead the 4G hoopla in the U.S. as it is aggressively deploying its 4G WiMax mobile broadband service having already launched the service in 27 U.S. markets. The WiMax footprint currently addresses more than 30 million people and targets serving 120 million people in 2010. The 4G WiMax service is expected to play a critical role for Sprint’s survival in the domestic wireless market.
At the CTIA wireless conference in Las Vegas in March 2010, Sprint introduced the world’s first 4G handset, dubbed “HTC EVO 4G." The feature-rich phone (expected launch in June 2010) will enable Sprint to boost its WiMax network as the device will foster the effective use of 4G bandwidth for data-rich applications.
However, Sprint is losing market share to its larger peers Verizon (VZ) and AT&T (T) as they continue expanding their respective customer bases at a brisk rate. The carrier is struggling to integrate Nextel’s iDEN wireless network with its own CDMA platform, resulting in subscriber defection to other carriers.
FDA Panel Votes Against Acurox
The US Food and Drug Administration’s (FDA) advisory panel recently withheld the approval for opioid candidate, Acurox, used in treating moderate to severe pain.
Acurox is an orally administered tablet containing oxycodone HCl as an active analgesic ingredient, niacin as an active ingredient in subtherapeutic amounts, and a unique combination of other ingredients.
The candidate has been developed as per King Pharmaceuticals, Inc.’s (KG) agreement with Acura Pharmaceuticals, Inc. (ACUR) for the licensing, development, and commercialization of immediate release (IR) pain medicines utilizing Acura's Aversion (abuse-deterrent) technology.
The advisory panel’s opposition to the approval does not come as a surprise. Earlier in June 2009, King and Acura had received a complete response letter from the FDA regarding the New Drug Application (NDA) for Acurox. At that time, the FDA had raised issues regarding the potential abuse deterrent benefits of Acurox.
Although the agency did not ask for additional clinical studies, King and Acura were asked to submit the NDA to an FDA advisory committee which would review the evidence supporting the potential abuse deterrent effects of Acurox compared to other currently marketed short-acting oxycodone opioid products.
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
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
