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Analyst Comments: D.R. Horton, Lockheed Martin, NuStar Energy, National Beverage, Tower Group, U.S. Bancorp, Goodyear Tire, RAIT Financial, PepsiCo, Amkor

Mon, 15 Sep 2008 20:25:00 GMT

D.R. Horton, Inc. (DHI) reported third quarter loss of $1.26 per diluted share. This is due to weaker gross margins, higher-than-anticipated overhead costs, and larger-than-expected charges for inventory impairments and write-offs of deposits related to land option contracts. Year-to-date, the company has been successful in generating cash flow, lowering land lots owned and optioned and bringing down the number of homes in inventory. We applaud the management?s decision to generate additional cash flow by reducing its FY09 land and land development expenses to $250 million from the $750 million expected in FY08 and the $2.5 billion spent in FY07. The company is also focused on driving down its inventory level. At the end of the third quarter of FY08, the total number of homes in inventory was approximately 15,400, consistent with the[More...]

Analyst Comments: U.S. Steel, Ciena, MTG Investment, CVS Caremark, I-Flow, CastlePoint, Banco Itau, Cameron, Ericsson, National Semi, Affirmative Insurance

Tue, 09 Sep 2008 13:10:00 GMT

United States Steel Corp.?s (X) near-term profitability is expected to be strong due to higher flat-rolled contract prices and relatively low costs due to backward integration. The company also has strong cash flow, enabling increased dividend payments, s[More...]

Don’t Overpay for Insurance M&A

Thu, 14 Aug 2008 16:25:00 GMT

I’ve been mulling over whether I should write about insurance M&A. Ugh, yes, I should say something. What pushed me over the edge was a piecein the WSJ on the purchase of Philadelphia Consolidated. When I first heard about the deal, I blinked, and said, “Foreign acquirer overpays to enter the US.” Is Philly a good company? It’s a great company, but it may not be so under foreign ownership. And, the price was well in excess of what it would have taken to create/attract the talent for a new venture. Paying 2.7x book is not a winner.But, the have been other missteps as well recently. Liberty Mutual buys Safeco and Ohio Casualty for 1.8x and 1.6x book. High prices for the assets obtained, and Liberty Mutual can’t lever that much as a mutual[More...]

Analyst Comments: Harris Interactive, Moody, MWI Veterinary, CastlePoint, Energy Conversion, National Australia Bank, Plains Exploration, Amylin Pharmaceuticals

Wed, 11 Jun 2008 17:48:14 GMT

We maintain our Hold rating on Harris Interactive, Inc. (HPOL) on the basis of weaker near-term growth prospects. Since Harris is the leader in Internet-based market research, the company appears well-positioned in this market. The company is also growing through acquisitions. It is pursuing strategic relationships with large multinationals. But going forward, management...[More...]

Analyst Comments: Cell Therapeutics, CastlePoint Holdings, Churchill Downs, Acusphere, Goldman Sachs, Lehman Brothers

Tue, 18 Mar 2008 14:44:06 GMT

Cell Therapeutics, Inc. (LMT) develops, acquires, and commercializes novel treatments for cancer. The recent acquisition of Zevalin will generate revenue for the company and prepare the company for the future launch of other cancer products. Two pipeline[More...]

Tower Group, Inc. Completes Acquisition of CastlePoint Holdings, Ltd.

Thu, 05 Feb 2009 13:08:00 GMT

Tower Group, Inc. (NASDAQ: TWGP) today announced that it has completed its acquisition of CastlePoint Holdings, Ltd. (NASDAQ: CPHL) in a transaction valued at $531 million based on Tower’s current market price. Tower announced a definitive agreement to acquire CastlePoint on August 5, 2008. All closing conditions have been met.[More...]

Tower Announces the Closing Date for Acquisition of CastlePoint

Wed, 28 Jan 2009 20:04:00 GMT

Tower Group, Inc. (NASDAQ: TWGP) today announced that its acquisition of CastlePoint Holdings, Ltd. (NASDAQ: CPHL) will close on February 5, 2009.[More...]

Tower Stockholders Approve Acquisition of CastlePoint

Wed, 28 Jan 2009 14:48:00 GMT

Tower Group, Inc. (NASDAQ: TWGP) today announced that its stockholders authorized during a special meeting the issuance of shares of Tower common stock to shareholders of CastlePoint Holdings, Ltd. (NASDAQ: CPHL) in connection with the merger of CastlePoint into a wholly-owned subsidiary of Tower.[More...]

CastlePoint Shareholders Approve Merger with Tower

Tue, 27 Jan 2009 14:19:00 GMT

CastlePoint Holdings, Ltd. (NASDAQ:CPHL) announced today that its shareholders approved the merger with a wholly-owned subsidiary of Tower Group, Inc. (NASDAQ:TWGP).[More...]

Tower Group, Inc. Announces Special Meeting of Stockholders and CastlePoint Holdings, Ltd. Announces Special General Meeting of Shareholders

Fri, 19 Dec 2008 16:36:00 GMT

Tower Group, Inc. (“Tower”; NASDAQ: TWGP) announced today that it has fixed a record date and special meeting date for its stockholders to consider and vote on the authorization and issuance of shares of Tower common stock in connection with the merger of CastlePoint with and into a wholly-owned subsidiary of Tower, as previously announced on August 4, 2008. In addition, CastlePoint Holdings, Ltd. (“CastlePoint”; NASDAQ: CPHL) announced today that it has fixed a record date and special general meeting date for its shareholders to consider and vote on the merger.[More...]

Tower Group, Inc. Announces Special Meeting of Stockholders

Fri, 19 Dec 2008 16:36:00 GMT

Tower Group, Inc. (“Tower”) (NASDAQ:TWGP) announced today that it has fixed a record date and special meeting date for its stockholders to consider and vote on the authorization and issuance of shares of Tower common stock in connection with the merger of CastlePoint with and into a wholly-owned subsidiary of Tower, as previously announced on August 4, 2008. In addition, CastlePoint Holdings, Ltd. (“CastlePoint”) (NASDAQ:CPHL) announced today that it has fixed a record date and special general meeting date for its shareholders to consider and vote on the merger.[More...]

Zacks Analyst Blog Highlights: Benchmark Electronics, Inc., Tower Group Inc., AutoZone, Inc., China Southern Airlines Company Limited and CEMEX S.A. De C.V.

Fri, 12 Dec 2008 04:06:00 GMT

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: Benchmark Electronics, Inc. (NYSE: BHE), Tower Group Inc. (NASDAQ: TWGP), AutoZone, Inc. (NYSE: AZO), China Southern Airlines Company Limited (NYSE: ZNH) and CEMEX S.A. de C.V. (NYSE: CX).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=4579

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Zacks Analyst Blog Highlights: The Hershey Company, MEMC Electronic Materials, Inc., Smith International, Inc., CastlePoint Holdings Ltd. And Tower Group

Wed, 03 Dec 2008 11:13:00 GMT

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: The Hershey Company (NYSE: HSY), MEMC Electronic Materials, Inc. (NYSE: WFR), Smith International, Inc. (NYSE: SII), CastlePoint Holdings Ltd. (NASDAQ: CPHL) and Tower Group (NASDAQ: TWGP).
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CastlePoint Reports Third Quarter 2008 Results

Thu, 06 Nov 2008 11:02:00 GMT

CastlePoint Holdings, Ltd. (NASDAQ: CPHL) today reported a net loss of $13.2 million and basic and diluted loss per share of $0.34 for the third quarter of 2008 as compared to third quarter 2007 net income of $10.5 million and diluted earnings per share of $0.27.[More...]

Zacks Analyst Blog Highlights: Tower Group, Inc., NuStar Energy L.P., Lockheed Martin Corp., D.R. Horton, Inc. And National Beverage Corp. - Sep 22 2008 3:17PM

Tue, 16 Sep 2008 19:12:00 GMT

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: Tower Group, Inc. (Nasdaq: TWGP), NuStar Energy L.P. (NYSE: NS), Lockheed Martin Corp. (NYSE: LMT), D.R. Horton, Inc. (NYSE: DHI) and National Beverage Corp. (Nasdaq: FIZZ).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=4579

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