(Source: Business Wire)
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: ABB Ltd. (NYSE: ABB), Baxter International, Inc. (NYSE: BAX), Abercrombie & Fitch (NYSE: ANF), Cognizant Technology Solutions Holdings, Inc. (NASDAQ: CTSH) and Satyam (NYSE: SAY).
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Here are highlights from Friday's Analyst Blog:
ABB Reports with Murky Outlook
ABB Ltd. (NYSE: ABB) (known in yesteryears as Asea Brown Bovari) reported Q4-08 and year-end 2008 results, which included the effects of the previously-announced approximate charge of $870 million brought about by reserves for ongoing compliance investigations as well as an adjusted value-added tax (VAT) payment and restructuring measures, mostly taken in Q4-08.
Specifically, for the fourth quarter, Revenues rose by 5.3% to 7.8 billion, while Pre-Tax Income declined by 73.2% to $314 million and EPS from Continuing Operations came in at $0.10, off by 80.8% from the $0.52 reported for Q4-07.
Baxter Int'l Cures What Ails
Baxter International, Inc. (NYSE: BAX) is a global medical products and services company with expertise in medical devices, pharmaceuticals, and biotechnology. The company is comprised of three operating segments: BioScience, Medication Delivery and Renal.
We believe these markets will remain relatively insulated from the current economic turmoil and provide investors with good quality returns on a risk-adjusted basis. Baxter's strong market position is demonstrated in its recent quarterly and annual performance that exceeded their prior estimates.
Abercrombie Surprises to Upside
This morning, Abercrombie & Fitch (NYSE: ANF) was the first big retailer to report 4th quarter results. Sales were in line, declining 18.8% to $998 million with a comp-store sales decrease of 25%. The company earned $1.10 per share (excluding one-time costs), down 54% year-over-year.
Still, its EPS did beat the Zacks consensus estimate by $0.12. The upside surprise was due to savings derived from payroll cost cuts and bonus reductions. Citing difficult economic conditions, management did not provide guidance for 2009.
Cognizant's Good News from India
Cognizant Technology Solutions Holdings, Inc. (NASDAQ: CTSH), an IT services provider, reported Q4 and FY08 results early today.
