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Here are highlights from Wednesday's Analyst Blog:
Walgreen's Trading in Fair Range
Deerfield, IL-based Walgreen Company (NYSE: WAG | Quote | Chart | News | PowerRating) is the largest national retail pharmacy chain in terms of revenue and profitability. Management continues Walgreen's traditional new store expansion strategy.
However, pharmacy profits are being pressured due to lower reimbursements on some generic drugs and additional pricing pressure from Wal-Mart (NYSE: WMT), which has entered the retail generic marketplace.
Energy Conv'sion: Speculative Buy
Michigan-based Energy Conversion Devices, Inc. (Nasdaq: ENER | Quote | Chart | News | PowerRating) is a technology, product development, and manufacturing company engaged in the invention, engineering, development and commercialization of new materials, products and production technology in the fields of alternative energy technology and information technology.
In 2009 fiscal first quarter, Energy Conversion Devices' total consolidated revenues for the quarter were $95.8 million, an increase of 16% over the $82.4 million in revenues from the fourth quarter of fiscal 2008, and 104% higher than revenues of $47 million in the first quarter of fiscal 2008.
News Corp. Buy Rec Intact
News Corporation, Inc. (NYSE: NWS | Quote | Chart | News | PowerRating) is a vertically integrated media company, well-diversified geographically and operationally across all major markets and media platforms.
The company reported lower-than-expected 1Q09 net income of $0.515B (down 29.6% year-over-year) or EPS of $0.20, compared with net income and EPS of $732 million and $0.23 in 1Q08. Notwithstanding the 31% increase in cable network programming operating income, the disappointing result overall reflected the current economic and as a result advertising downturn.
Gen'l Dynamics: A Show of Power
General Dynamics Corporation (NYSE: GD | Quote | Chart | News | PowerRating) continues to benefit from strong defense outlays. Revenue growth, margin expansion, growing backlog, an under-leveraged balance sheet, an ongoing share purchase program, and strong cash flow generation are the driving factors.
Also strong demand for its Gulfstream jets, especially G650, will boost the Gulfstream order-book. Increased Navy spending on Virginia class submarines and Zumwalt class destroyers boosted the Marine segment. Management believes that there is ample near-term upside potential for the Combat Systems segment due to Abrams tank modernization and Stryker production. General Dynamics also expects a boost in earnings at the IS&T segment despite a steady ramp-down of the Bowman program due to expansion of customer base through acquisitions.
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