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| Daily Digest Stockinvestips |
Upgrades for June 1, 2011 Wednesday:
1) Ashland ( NYSE: ASH ) upgraded from neutral to buy by Longbow.
2) AT&T ( NYSE:T ) upgraded from hold to buy by Hudson Square Research.
3) Concur Tech ( NASDAQ: CNQR ) upgraded from hold to buy by Needham.
4) Ensco ( NYSE: ESV ) upgraded from neutral to buy by UBS.
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Downgrades for June 1, 2011 Wednesday:
1) Ashford Hospitality Trust ( NYSE: AHT ) downgraded from Outperform to Mkt Perform by FBR Capital.
2) China-Biotics ( NASDAQ : CHBT ) downgraded from hold to sell by Maxim Group.
3) E-House China ( NYSE : EJ ) downgraded from hold to sell by Maxim Group.
4) Expedia ( NASDAQ : EXPE ) downgraded from buy to hold by Standpoint Research.
5) Hill International ( NYSE : HIL ) downgraded from buy to hold by Morgan Joseph.
6) Nokia ( NYSE : NOK) downgraded from buy to hold by Canaccord Genuity.
7) Sequans Communications ( NYSE : SQNS ) downgraded from buy to hold by Needham.
8) Verizon ( NYSE : VZ) downgraded from hold to sell by Hudson Square Research .
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Coverage Initiated for June 1, 2011 Wednesday:
1) Aecom Tech ( NYSE : ACM ) coverage initiated with buy by BB&T Capital Mkts.
2) Oclaro ( NASDAQ: OCLR ) coverage initiated with Mkt Outperform by Avondale.
3) OYO Geospace ( NASDAQ: OYOG ) coverage initiated with strong buy by BWS Financial.
4) Sagent Pharma ( NASDAQ: SGNT ) coverage initiated with buy by Needham.
5) Walgreens ( NASDAQ: WAG) coverage initiated with buy by UBS.
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Technology Headlines for June 1 2011 ( Wednesday ) !!
1. Google offers, the business model backbone behind Google Wallet NFC credit cards, kicks off tomorrow. Its launch city is Portland, Ore., which will presumably act as a beta test case for Google's plans before Offers and Wallet gets a broader launch in more cities later in the year. Eric Schmidt demonstrated it at D9, showing how users could get up to 50% discount at retailers like Floyd's coffee--without needing to achieve a threshold like users of Groupon do.
2. The World Health Organization has kicked off a storm with a new report entering the debate on cell phone use and health risks. The WHO now lists cell phones in the same "carcinogenic" list as car exhausts, but simultaneously assures that there's no adverse health risk established as yet. The decision came after WHO scientists reviewed other studies into the health risks, and conclude there's "possible" danger.
3. Demonstrating exactly how much of a sticky spot it's in, Nokia has shuttered its online stores in France, Spain and the Netherlands. While other European stores remain open offering Nokia hardware directly, it's likely that these three markets represented those where Nokia was faring worse at the hands of resellers who subsidize the price of the phone and thus beat Nokia's own prices.
4. Speaking at the D9 conference, Google's ex CEO Eric Schmidt made a number of controversial statements, but the biggest will enrage Microsoft: If you worry about security "you could get a Mac instead of a PC" he suggested, noting Apple's platform suffers far fewer attacks--though he'd advocate using Chrome browser for added protection. Schmidt also belittled MS as a competitor, noting it wasn't a key threat because it wasn't innovating the customer experience enough.
5. Lodsys, the patent lawyer firm suing app developers for violation of its patents tentatively related to in-app purchase, has responded to strong assertions from Apple that its licensing of Lodsys's IP covers its developer community by denying this claim. It's moved forward some actions in case Apple gets legally aggressive, and has added more developers to its target list. Meantime, it's saying it'll compensate firms it wrongly targets with $1,000. Is this all about the money, perhaps?
( Source: Fast Company )
RADA Electronic Industries Announces 2011 First Quarter Results:
Company reported a net profit of $393,000, or $0.04 per share, for the first quarter of 2011 compared to a net loss of $518,000 or $0.06 per share, for the first quarter of 2010. stock soars more than 18 % to $ 3.95.
Below is the News Release:
NETANYA, Israel, May 31, 2011 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (Nasdaq:RADA) announced today its financial results for the quarter ended March 31, 2011.
2011 First quarter highlights include:
Revenues of $7.8 million, a 72% increase compared to the first quarter of 2010.
Operating Profit of $543,000.
Net Profit of $393,000 compared to a net loss of $518,000 for the first quarter of 2010.
2011 First quarter Results
Revenues increased by 72% to $7.8 million from $4.5 million in the first quarter of 2010. The increase is attributed mainly to projects being executed for Latin American customers.
Gross Profit increased by 168% to $2.5 million from $929,000 in the first quarter of 2010.
Operating Profit increased to $543,000 compared with a $247,000 loss in the first quarter of 2010.
Financial Expenses totaled $152,000 compared with financial expenses of $279,000 in the first quarter of 2010.
Westinghouse Solar Inc ( NASDAQ: WEST ) to Introduce AC Solar Power System at Intersolar Europe, Stock jumped more than 18 %. Volumes are quiet strong and up move might sustain.
Our call: Small Buy positions for intraday trade only, not for investment.
Below is the Press release:
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| Westinghouse Solar Inc |
CAMPBELL, Calif., June 1, 2011 (GLOBE NEWSWIRE) -- Westinghouse Solar, Inc. (Nasdaq:WEST), a designer and manufacturer of solar power systems, announced that it will be exhibiting at booth number A3-220 during the upcoming Intersolar 2011 trade show on June 8-10, 2011 in Munich, Germany. Westinghouse Solar will exhibit their latest Plug-and-Play AC module as well as their DC system for commercial systems.
"We are excited to be unveiling the industry's first fully integrated AC solar panel into Europe, the world's largest solar market," said Barry Cinnamon, CEO of Westinghouse Solar. "Panel prices have declined to the point at which direct and indirect labor expenses are now the largest single component of system costs. With integrated racking, wiring and grounding, Westinghouse Solar Power Systems eliminate 80% of the field assembly components and save 50% of the labor compared to ordinary solar power systems, thereby providing greater margin opportunity to rooftop system installers."
Westinghouse Solar's 235 watt AC panel features a second-generation integrated frame, as well as features that enhance the panel's reliability and ease of installation. For commercial rooftops, Westinghouse Solar will be showing its lightweight, non-penetrating flat roof solar power system that is also based on a large-format 235 watt panel. Westinghouse Solar currently sells its integrated solar panels to a 300-strong network of dealers and installers in North America. The company's new 235 watt AC and DC panels are expected to begin shipping to customers this summer at attractive price points.
Parties interested in additional information or to meet with the company at this event should contact Gary Mull at 408.402.9478 or gmull@westinghousesolar.com.
About Westinghouse Solar: (Nasdaq:WEST)
Westinghouse Solar is a designer and manufacturer of solar power systems. In 2007, Westinghouse Solar pioneered the concept of integrating the racking, wiring and grounding directly into the solar panel. This revolutionary solar panel, originally branded "Andalay", quickly won industry acclaim. In 2009, the company again broke new ground with the first integrated AC solar panel, reducing the number of components for a rooftop solar installation by approximately 80 percent and lowering labor costs by approximately 50 percent. This first AC panel, which won the 2009 Popular Mechanics Breakthrough Award, has become the industry's most widely installed AC solar panel. Award-winning Westinghouse Solar Power Systems provide the best combination of safety, performance and reliability, while backed by the proven quality of the Westinghouse name. For more information on Westinghouse Solar, visit www.westinghousesolar.com.
Waccamaw Bankshares Inc ( NASDAQ: WBNK ), stock moving up with out specific news or announcements. Stock jumped more than 40 % to $ 1.26.
Our Call: Cautious trade call, No buy positions
Last news release announced from the company as below:
Waccamaw Bankshares Receives Letter From NASDAQ Relating to Its Late Form 10-Q and 10-K
WHITEVILLE, N.C., May 23, 2011 /PRNewswire/ -- Waccamaw Bankshares, Inc. (NASDAQ: WBNK), the bank holding company for Waccamaw Bank, announced today that it received a second non-compliance notice from the NASDAQ Stock Market stating that the company was not in compliance with NASDAQ Listing Rule 5250( c )(1) because the company has not timely filed its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2011, and because the company has not timely filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2010. The notification has no immediate effect on the listing or trading of the company's common stock on the NASDAQ Global Market. The NASDAQ letter indicated that the company has until June 3, 2011, to submit a plan to regain compliance. If such a plan is timely submitted by the company, the NASDAQ staff can grant the company up to 180 calendar days from the due date of the Form 10-K (or until September 27, 2011) to regain compliance.
As disclosed in the company's Form 12b-25, Notification of Late Filing, filed with the Securities and Exchange Commission on May 16, 2011, the company has not yet completed its financial statements for the quarterly period ended March 31, 2011. As disclosed in a previous Form 12b-25, Notification of Late Filing, filed with the Securities and Exchange Commission on March 31, 2011, the company has not yet completed its audited financial statements for the fiscal year ended December 31, 2010. The company intends to submit a plan to regain compliance to NASDAQ no later than June 3, 2011. No assurance can be given that NASDAQ will accept the company's compliance plan or grant an exception for the full 180-day period contemplated by the NASDAQ Listing Rules. Under the NASDAQ rules, the company's common stock will continue to be listed on NASDAQ until June 3, 2011, and for any exception period that may be granted to the company by NASDAQ. However, until the company regains compliance, quotation information for the company's common stock will continue to include an indicator of the company's non-compliance and the company will continue to be included in a list of non-compliant companies on the NASDAQ website.
About Waccamaw Bankshares, Inc.
Waccamaw Bankshares, Inc., is the holding company for Waccamaw Bank, a North
Carolina-chartered community bank. We are headquartered in Whiteville, North Carolina and conduct our business through seventeen full-service banking offices located in Whiteville, Tabor City, Chadbourn, Elizabethtown, Shallotte (2), Holden Beach, Southport (2), Sunset Beach, Oak Island, and Wilmington, North Carolina and Heath Springs, Conway (2), Socastee, and Little River, South Carolina. Our primary market area includes Columbus, Bladen, Brunswick and New Hanover Counties of North Carolina and Lancaster and Horry Counties of South Carolina. Waccamaw Bank began operations in Whiteville, North Carolina on September 2, 1997 and on June 30, 2001 became our wholly owned subsidiary upon completion of our reorganization into a bank holding company. We conduct all of our business activities through our banking subsidiary, Waccamaw Bank. The bank's deposits are insured up to applicable limits by the FDIC. Our principal executive office is located at 110 North J.K. Powell Boulevard, Whiteville, North Carolina 28472 and our telephone number is (910) 641-0044. Our website is www.waccamawbank.com .
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding future events. These statements are only predictions and are subject to risks and uncertainties that could cause actual events or results to differ materially. These risks and uncertainties include risks of managing our growth, substantial changes in financial markets, regulatory changes, changes in interest rates, loss of deposits and loan demand to other financial institutions, and changes in real estate values and the real estate market. Additional information concerning factors that could cause actual results to be materially different from those in the forward-looking statements is contained in the Company's filings with the Securities and Exchange Commission. Waccamaw Bankshares, Inc. undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Waccamaw Bankshares, Inc.
Teva Pharmaceutical Industries Ltd. said Tuesday it has settled a patent lawsuit brought by Pfizer Inc. over a drug for treating seizures and pain caused by shingles.
Financial terms of the settlement were not disclosed.
Pfizer claimed generic versions of Neurontin sold by Teva and subsidiary Ivax Pharmaceuticals violated its patent.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Economic Headlines for June 1st 2011 ( Wednesday )
Today's economic reports include ,
1) US manufacturing growth tumbled more than expected, to the slowest level since September 2009.
The Institute for Supply Management (ISM) said its index of national factory activity fell to 53.5 in May from 60.4 the month before. The reading missed economists' expectations for 57.7.Today's economic reports include ,
1) US manufacturing growth tumbled more than expected, to the slowest level since September 2009.
If reading dips below 50 indicates contraction in the manufacturing sector, while a number above 50 means expansion.
New orders fell to 51.0 from 61.7 in April, the lowest since June 2009. The index for prices paid fell to 76.5 from 85.5, below expectations of 82.0.
2) U.S. private-sector payroll growth slowed sharply lower in May, falling to the lowest level in eight months and prompting some economists to lower forecasts for job growth in Friday's U.S. government report.
According to the ADP report, private sector added only, while the expectations was for 175000, a way short than estimates. It was the lowest level since September 2010.
According to the ADP report, private sector added only, while the expectations was for 175000, a way short than estimates. It was the lowest level since September 2010.
3) According to the report from the Mortgage Bankers Association ( MBA ) its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell nearly 4 percent in the week ended May 27.
The MBA's seasonally adjusted index of refinancing applications lost 5.7 percent, even as interest rates tumbled.The refinance share of mortgage activity fell to 65.7 percent of total applications from 66.8 percent the week before. The gauge of loan requests for home purchases was essentially unchanged.
Fixed 30-year mortgage rates averaged 4.58 percent in the week, down from 4.69 percent the week before.
4) The yield on benchmark 10-year Treasury debt slipped below 3% to its lowest level since early December.
Telvent Git SA ( NASDAQ: TLVT ), stock of the company jumped more than 15 % to $ 39.80 in premarket trade as Abengor SA announced a stake sale in the company. Stock has shown an upmove since last 3 trading session and we might see up move is toping out as stake sell price was close to $ 40 per share.
Our Call: Cautious Trade, Avoid buy positions.
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| Telvent Git SA |
Below is the news:
Reuters reported that Abengoa SA expects to book net capital gains of between EUR 135 million and EUR 145 million from Telvent Git SA stake sale.
Abengoa S.A. announced that it has reached an agreement to sell its 40% stake in Telvent GIT, S.A. to Schneider Electric SA at a price of USD40.00 per share. The transaction is subject to approvals from the European and U.S. competition authorities. The sale will be made as part of a tender offer that Schneider Electric will be launching within ten business days. Abengoa will receive EUR421 million in net cash from this deal, including a EUR51 million repayment of a credit line to Telvent, and will reduce its net debt by EUR 774 million.
Orexigen Therapeutics ( NASDAQ: OREX ) , company will announce it regulatory update on Friday June 3. Traders have started speculation that company will announce positive regulatory news regarding company's research pipeline. Stock jumped 15 % in premarket trade to % 3.27.
Our Call: Cautious buy positions, Neutral trade view, Investment positions might be initiated after reviewing final update on June 3.
Below is the Press Release:
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| Orexigen Therapeutics |
SAN DIEGO, June 1, 2011 /PRNewswire/ -- Orexigen® Therapeutics, Inc. (Nasdaq: OREX), a biopharmaceutical company focused on the treatment of obesity, will announce a regulatory update on Friday, June 3, 2011 before the markets open. The announcement will be followed by a live webcast and conference call at 8:00 a.m. Eastern time.
Orexigen management will host the call and webcast to discuss this update. The live call may be accessed by phone by calling (866) 730-5771 (domestic) or (857) 350-1595 (international), participant code 27244834. The webcast can be accessed live on the investor relations section of the Orexigen web site at www.orexigen.com and will be archived for 14 days following the call.
About Orexigen Therapeutics
Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the treatment of obesity. The Company's lead product, Contrave®, has completed Phase 3 clinical trials and has received a Complete Response Letter from the FDA for its New Drug Application. The Company is in the process of determining the next steps for Contrave. The Company's second product, Empatic™, has completed Phase 2 clinical development. Each product candidate is designed to act on a specific group of neurons in the central nervous system with the goal of achieving appetite suppression and sustained weight loss, through combination therapeutic approaches. Further information about the Company can be found at www.orexigen.com.
SOURCE Orexigen Therapeutics, Inc.
A Massachusetts court official has declined to charge a New York man accused of slapping a male flight attendant on a JetBlue flight from Florida.
State police say 48-year-old Bryan Garnett of Utica was arrested at Boston's Logan International Airport when the flight from West Palm Beach landed Tuesday.
Garnett says he instinctively pushed the flight attendant's hand away when the steward tried to adjust his seat while he slept.
A district court clerk later determined that the encounter occurred while the aircraft was on the ground in Florida. The clerk says Massachusetts has no jurisdiction to charge Garnett with interfering with a flight crew and assault and battery.
Suffolk County prosecutors say JetBlue will have to pursue charges in Florida. A JetBlue spokeswoman says the airline wasn't aware of the decision.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
