You are being directed to ZacksTrade, a division of Zacks & Company and licensed broker-dealer. ZacksTrade and Zacks.com are separate but affiliated companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
|No Recent Quote currently available|
My Portfolio Tracker
One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts. Set yours up today.
CHICAGO, Dec. 12, 2012 /PRNewswire via COMTEX/ -- Zacks Equity Research highlights Amgen Inc (Nasdaq:AMGN) as the Bull of the Day and Align Technology (Nasdaq:ALGN) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Texas Instruments (Nasdaq:TXN), Maxim Integrated Products, Inc (Nasdaq:MXIM) and Intel Corp. (Nasdaq:INTC).
Full analysis of all these stocks is available at http://at.zacks.com/?id=2678.
Here is a synopsis of all five stocks:
Bull of the Day:
Amgen Inc's (Nasdaq:AMGN) third quarter EPS of $1.66 per share was 23 cents above the Zacks Consensus Estimate and 19.4% above the year-ago period. Higher revenues, cost discipline and a lower share count contributed to the year-over-year increase in earnings. Revenues increased 9.5% to $4,319 million, well above the Zacks Consensus Estimate of $4,199 million.
Amgen raised its guidance for 2012 again and now expects earnings in the range of $6.50 - $6.60 per share on revenues of $17.2 billion - $17.3 billion. Earlier, the company had guided towards earnings of $6.20 - $6.35 per share on revenues of $16.9 - $17.2 billion.
Based on the company's performance so far this year and the upbeat guidance, which should be easily achievable, we are upgrading Amgen to Outperform. Our $106 price target is based on 15.6x our 2013 earnings estimate.
Bear of the Day:
Align Technology's (Nasdaq:ALGN) third quarter 2012 results were dismal with the company reporting revenues and adjusted EPS of $136.5 million and $0.28, both missing the Zacks Consensus Estimates of $140 million and $0.29, respectively. In addition, given the weakness in dental technology sales and the aftermath of Superstorm Sandy, the company now expects to reach just the low end of its earlier-provided fourth quarter 2012 outlook.
The news of job cuts and higher management churn, accompanied with the termination of the European distribution contract also add to our concern. These factors led to a downward rally in the stock price that reached its 52-week low last week.
We also fail to see any major catalyst that could revive the shares. Accordingly, we downgrade the stock and lower our revenues and EPS estimates for fiscal 2012 and 2013.
Latest Posts on the Zacks Analyst Blog:
Texas Instruments Lowers EPS Guidance
Recently, Texas Instruments (Nasdaq:TXN) or "TI" narrowed its revenue and earnings expectations for the fourth quarter of 2012.
The chipmaker now expects sales of $2.89-$3.01 billion versus its previous guidance of $2.83-$3.07 billion. The earnings outlook has also been trimmed to 5-9 cents from the previous guidance of 23-31 cents.
The current earnings guidance includes 21 cents of charges associated with previously announced restructuring in the company's Wireless segment.
Recently, TI announced its restructuring program wherein the company plans to cut 1,700 jobs worldwide in order to reduce operational costs, shut down its wireless chip operations, and concentrate on embedded solutions like automobiles, industrial and other non-consumer markets, which have a longer life cycle. The company expects to incur total charges of approximately $325 million in the fourth quarter.
It is encouraging that despite the weak macro environment, the company has not lowered the midpoint of the revenue guidance. With game consoles and e-books doing well for TI, the company cited weakness in wireless infrastructure and industrial markets.
In order to retain its position in the world, it is imperative that TI continues to undertake various initiatives and develop new products, keeping in mind the interest of the organization in both the long and short run. We believe the restructuring action will bring in stability and steady earnings growth in the near future.
Texas Instruments is one of the largest suppliers of analog and digital signal processing (DSP) integrated circuits. In the third quarter, TI posted decent numbers, with both revenue and earnings surpassing our expectations. The company's compelling product line-up, increasing differentiation in its business, restructuring activities and lower-cost 300mm capacity should drive earnings in the longer term.
Currently, Texas Instruments has a Zacks #3 Rank (Hold). We note that its rivals, including Maxim Integrated Products, Inc (Nasdaq:MXIM) and Intel Corp. (Nasdaq:INTC) also carry a Zacks #3 Rank (Hold).
Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.
About the Bull and Bear of the Day
Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.
About the Analyst Blog
Updated throughout every trading day, the Analyst Blog provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous analyst coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=7158.
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment
Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=4582.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Media ContactZacks Investment Research800-767-3771 ext. firstname.lastname@example.org http://www.zacks.com
SOURCE Zacks Investment Research, Inc.
Copyright (C) 2012 PR Newswire. All rights reserved
Zacks Research is Reported On:
Zacks Investment Research
is an A+ Rated BBB
Copyright 2015 Zacks Investment Research
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1986 it has nearly tripled the S&P 500 with an average gain of +26% per year. These returns cover a period from 1986-2011 and were examined and attested by Baker Tilly, an independent accounting firm.
Visit performance for information about the performance numbers displayed above.
Visit www.zacksdata.com to get our data and content for your mobile app or website.
Real time prices by BATS. Delayed quotes by Sungard.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.