Harmony Gold (HMY)

Formed in 1950, South Africa&#39;s Harmony Gold Mining Company Limited (<a href=http://www.zacks.com/stock/quote/hmY>HMY</a>) conducts underground and surface gold mining. It is also engaged in related activities such as exploration, processing, smelting and refining. Presently, Harmony is the 3rd largest producer of gold in South Africa, producing about 20% of the country&#39;s annual gold output and the 5th largest gold producer in the world. <p> Harmony Gold is benefiting from higher gold prices in terms of the South African rand. Going forward however, Harmony is focused on lowering its cost structure, primarily by closure of loss-making shafts and reducing its debt level aggressively. <p> As a result, we rate the shares a Buy with a target of $16.00. The company is also focused on reducing its operating costs through restructuring efforts. As a result, we rate the shares a Buy with a target of $16.00. This is 39.0x our 2009 earnings estimate.
March 31, 2009 | Filed Under Stock Picks | Leave a Comment 

Celanese Corp. (CE)

Celanese Corp. (<a href=http://www.zacks.com/stock/quote/ce>CE</a>) is a global hybrid chemical company based in Dallas. The company produces chemical substances and materials. <p> Weak market conditions drove a dramatic decline in overall global demand for many industries which affected Celanese operations. Recessionary trends, coupled with inventory destocking, resulted in sharp volume declines in the Advanced Engineered Materials and the Acetyl Intermediates businesses. <p> The company expects volumes to remain under pressure in 2009, even with the easing of inventory destocking. Thus, we rate the shares a Sell with a target of $9.00.
March 31, 2009 | Filed Under Stocks to Sell | Leave a Comment 

Omnicity Acquires Forepoint Networks

RUSHVILLE, IN--(Marketwire - March 31, 2009) - Omnicity Corp (OTCBB: OMCY) -- the Midwest's largest fixed Wireless Internet Service Provider (WISP) -- announces the acquisition of Indiana's fastest WISP, Forepoint Networks ("Forepoint"). This acquisition represents the third of several acquisitions that Omnicity plans to complete by the end of May 2009 and adds another approximately 1,000 subscribers and 23 towers with 20 towers located in Omnicity's Tipmont REMC partner region. Greg Jarman, COO of Omnicity, said, "We have been partnering with Tipmont REMC providing services to their customers for a couple of years. We see this as an excellent opportunity for Omnicity to increase network coverage, speeds and services to customers throughout the region. There are many folks desperately looking for service today and the Forepoint acquisition pushes that agenda forward in a big way."

March 31, 2009 | Filed Under Mergers and Acquisitions | Leave a Comment 

Phoenix Interests, Inc. Announces Name Change to NuMobile, Inc. in Conjunction With Roll-Up Strategy to Build Mobile Computing Solution

First Acquisition in Roll-Up Scheduled this Week

March 31, 2009 | Filed Under Mergers and Acquisitions | Leave a Comment 

AutoZone, Inc. (AZO)

AutoZone, Inc. (<a href=http://www.zacks.com/stock/quote/azo>AZO</a>) is a leading retailer of automotive parts and accessories. The company has significant cash flow and plans to expand its square footage growth. <p> AutoZone has maintained a mid-single-digit square footage growth rate by opening new stores every year. Falling gas prices are helping the company to improve same-store sales. <p> We rate the shares a Buy, with a six-month target price of $185.00. This target price amounts to 15.9x our 2009 EPS estimate.
March 30, 2009 | Filed Under Stock Picks | Leave a Comment 

Johnson Controls, Inc. (JCI)

Johnson Controls, Inc. (<a href=http://www.zacks.com/stock/quote/jci>JCI</a>) is suffering from weakening product mix and raw material/ price squeeze. It has recently withdrawn its financial guidance due to lower North American and European vehicle production. <p> Rapid deterioration in automotive production coupled with worsening residential market raise concern. As foreseen, Johnson reported losses in the first quarter of fiscal 2009 and expects to incur similar losses in the second quarter of the year. <p> The company expects profits only after the third quarter of fiscal 2009. These lead us to rate the stock a Sell with a target of $7.00.
March 30, 2009 | Filed Under Stocks to Sell | Leave a Comment 

American Blue Ribbon Holdings, LLC Acquires VICORP Restaurants, Inc.

Successful Restructuring of Company Achieved in Less Than 12 Months

March 30, 2009 | Filed Under Mergers and Acquisitions | Leave a Comment 

Ci&T Continues Growth in the Business Intelligence Market

Company Acquires BI-One to Bolster BI and SAP Services

March 30, 2009 | Filed Under Mergers and Acquisitions | Leave a Comment 

NewMarket Technology, Inc. Presents Greenfield Strategy in Shanghai to Support M&A Campaign

Greenfield M&A Campaign to Expand Company's $40 Million in Annual Revenue From Chinese Operations

March 30, 2009 | Filed Under Mergers and Acquisitions | Leave a Comment 

Palm Inc. (PALM)

Palm Inc. (<a href=http://www.zacks.com/stock/quote/palm>PALM</a>) 3Q09 revenue declined by 71.0% y-o-y due to pricing concessions and lower volume for its maturing legacy smartphone, weak consumer spending, and delay in shipments of the Treo Pro in the U.S. <p> Though Palm expects to launch its Palm Pre next gen phone in the first half of calendar year 2009, we doubt the success of it given the current economic uncertainty that has dampened demand for consumer products. We are again lowering our estimates for 2009 and 2010. We continue to believe that Palm badly trails RIM in the smartphone market and will not be able to effectively compete as an independent company. <p> We have a low confidence in its ability to survive with a weak market share, so we reiterate our Sell rating on Palm shares with our six-month price target of $5.00.
March 29, 2009 | Filed Under Stocks to Sell | Leave a Comment 

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