Headline News
Merck (MRK)
Australia Court Dismisses Claims Against Merck
Today, the Federal Court in Australia dismissed all claims against Merck & Co., Inc. specifically finding that Merck was not negligent in its development, scientific study and sale of Vioxx.
The Court dismissed all claims against Merck & Co., Inc. specifically finding that Merck was not negligent in its development, scientific study and sale of Vioxx. Merck and MSD Australia disagree with the limited portions of the Court’s findings that were against MSD Australia and intend to appeal them.
Mar 5 · 9:59:00 AM
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by Rich Pike
Johnson & Johnson (JNJ)
J&J Reaffirms Fiscal 2010 Guidance
Reuters.com is reporting that Johnson & Johnson announced that for fiscal 2010, it continues to expect earnings of $4.85 to $4.95 per share. According to Reuters Estimates, analysts on an average are expecting the Company to report earnings per share (EPS) of $4.92 for fiscal 2010.
At today's stock price of about $63.80, with a 2010 EPS of $4.92 that results in a forward PE of about 13. That seems like a flat out steal of a valuation for J&J.
Mar 5 · 9:55:00 AM · Source: Reuters.com
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by Rich Pike
Anheuser-Busch InBev (BUD)
Anheuser-Busch InBev 4Q and Full 2009 Results
Anheuser-Busch InBev reported that its profit in 4Q 2009 rose to $1.28 billion from $28 million in the fourth quarter of 2008, which is when the company's $52 billion acquisition of Anheuser-Busch closed.
Its adjusted earnings per share rose to 55 cents from 44 cents -- 8 cents below estimates -- with revenue when combining what was Anheuser-Busch with InBev rising 5% to $9.3 billion.
Mar 4 · 11:30:00 AM · Source: Company Press Release
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by Rich Pike
BJ's (BJ)
BJ's 4Q and FYE 2010 Results
BJ's today reported net income of $55.1 million, or $1.01 per diluted share, for the fourth quarter ended January 30, 2010. For the full year 2009, the Company reported net income of $132.1 million, or $2.42 per diluted share, compared to $2.28 per diluted share for 2008.
For the fourth quarter ended January 30, 2010, total sales increased by 9.4% to $2.74 billion, and comparable club sales increased by 4.6%, including a contribution from sales of gasoline of 2.3%. For the year ended January 30, 2010, total sales rose by 1.6% to $9.95 billion and comparable club sales decreased by 1.9%, including a negative impact from sales of gasoline of 5.9%. Excluding the impact of gasoline sales, merchandise comparable club sales increased by 4.0% for the full year.
Mar 4 · 11:08:00 AM · Source: Company Press Release
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by Rich Pike
Walgreen (WAG)
Walgreens Feb Same Store Sales Up 0.4 Percent
Walgreens is reporting February sales of $5.31 billion, an increase of 3.2 percent from $5.14 billion for the same month in 2009. Sales in comparable stores (those open at least a year) increased 0.4 percent.
February pharmacy sales increased 3.7 percent, while comparable pharmacy sales increased 0.9 percent. Comparable pharmacy sales were negatively affected by 2.4 percentage points due to generic drug introductions in the last 12 months and a lower incidence of flu compared with February 2009. Pharmacy sales accounted for 64.5 percent of total sales for the month.
Mar 4 · 11:01:00 AM · Source: Company Press Release
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by Rich Pike
Walmart (WMT)
Walmart Buys Digital Home Video Service Vudu
Paidcontent.org is reporting that Walmart is buying online/embedded movie service Vudu. The retailer describes Vudu as a “leading provider of digital technologies and services that enable the delivery of entertainment content directly to broadband high-definition TVs and Blu-ray players” and calls it “revolutionary.” The deal, expected to close in a few weeks, marks Walmart’s latest effort to make online video pay, this time without a connected computer.
Eduardo Castro-Wright, vice chairman for Walmart, explained the move in the announcement: “Combining Vudu’s unique digital technology and service with Walmart’s retail expertise and scale will provide customers with unprecedented access to home entertainment options as they migrate to a digital environment.” Wal-Mart Stores, Inc. (NYSE: WMT) gains access to titles from nearly every major studio and to some 16,000 titles, including, the companies claim, the largest available 1080p VOD library.
Mar 4 · 10:57:00 AM · Source: Paidcontent.org
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by Rich Pike
Best Buy (BBY)
Best Buy Nears Launch Of Revamped On-Demand Video
NASDAQ.com is reporting that barely a week after Wal-Mart Stores Inc. (WMT) signaled its latest push to sell and rent movies over the Internet, Best Buy Co. (BBY) is preparing to roll out its own, revamped digital-download service.
In an Internet posting, Best Buy said its best customers are allowed one free movie rental download each month from Blue Sky Video by Best Buy, which the retailer said is "coming out soon."
Best Buy in November announced it would develop an on-demand movie and entertainment service as part of a multiyear partnership with streaming service Sonic Solutions' (SNIC) Roxio CinemaNow. The deal, which included Best Buy acquiring warrants to purchase shares of Sonic Solutions' stock, also allowed Best Buy to embed the service on various electronic devices.
Mar 4 · 10:53:00 AM · Source: NASDAQ.com
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by Rich Pike
Abbott Labs (ABT)
Abbott and GSK Team on Skin Cancer Test
Abbott announced today that it has entered into an agreement with GlaxoSmithKline
(GSK) to develop a molecular diagnostic test intended for use as an aid in
selecting patients who may benefit from a skin cancer treatment in development
by GSK.
"This is an exciting continuation of our important collaboration with GSK, a
leading company in cancer immunotherapy research," said Stafford O'Kelly, head
of Abbott's molecular diagnostics business. "The agreement is indicative of
our commitment to personalized medicine and our focus on developing innovative
companion diagnostic tests that can be used to identify patients most likely
to benefit from specific cancer therapies."
Mar 4 · 10:44:00 AM · Source: Reuters.com
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by Rich Pike
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