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Zacks Analyst Blog Highlights: ArthroCare Corp., Zoran Corp., ATS Medical, Inc., CarMax Group, and FedEx Corporation.
For Immediate Release
Chicago, IL – March 20, 2009 - 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: ArthroCare Corp. (ARTC - Snapshot Report), Zoran Corp. (ZRAN - Analyst Report), ATS Medical, Inc. (ATSI - Analyst Report), CarMax Group (KMX - Analyst Report) and FedEx Corporation (FDX - Analyst Report).
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Here are highlights from Thursday’s Analyst Blog:
ArthroCare Facing Tough Times
ArthroCare Corp. (ARTC - Snapshot Report) develops, manufactures, and markets products based on their patented Coblation technology. Coblation combines bipolar radiofrequency energy with a saline solution to gently and precisely remove soft tissue at low temperatures, which operate at lower temperatures than electrosurgical or laser surgery tools.
The near-term should be difficult for ARTC investors as the company navigates the delayed filing of financial statements, FBI probe, and class action suits. The company's clear strategy to leverage Coblation technology and other innovative, clinically superior surgical devices for the surgical treatment of soft-tissue conditions should help pull them through this difficult time.
Zoran Corp. a Small-Cap Buy
Zoran Corp.’s (ZRAN - Analyst Report) revenues in the last few quarters were disappointing with several sectors being influenced by the poor economic environment. The company currently expects Q1 2009 revenue to be down significantly, blaming the economic downturn and weak consumer spending. Zoran is facing significant pricing pressure in all its verticals and is recording lower booking levels.
On a positive note, cash flow excluding acquisitions has been positive, and total cash should provide a buffer to further declines in stock prices.
ATS Medical Upgraded to Buy
ATS Medical, Inc. (ATSI - Analyst Report) has the goal of becoming the #1 mechanical valve company in the world and has about 20% worldwide market share on a procedure basis. While mechanical heart valves are still growing in international markets, this product is declining in U.S. markets in favor of the tissue valve.
We believe overseas markets will eventually adopt this trend. Expanding the offering of complementary products has fueled ATSI's growth. Plus, the acquisition of 3F Therapeutics may bring ATSI into the tissue valve market, leveraging its current infrastructure, and turning profitable by the end of fiscal 2009.
CarMax Outlook Still Bleak
CarMax Group (KMX - Analyst Report) continues to face a difficult used-vehicle environment, largely due to aggressive incentives being offered by new vehicle manufacturers. Declining used-car value due to the ongoing weakness in the overall economy and higher funding cost at the CarMax Auto Finance are eroding the margins of the company.
The current economic slowdown and reduced consumer spending had a negative impact on the company's retail business. It is aggressively cutting prices on trucks and SUVs to reduce inventory.
FedEx Misses Estimates
Today, FedEx Corporation (FDX - Analyst Report) posted fiscal 3rd quarter (February 28) results of $0.31 per diluted share. This was well below consensus of $ 0.46 per share and our estimate of $0.44 per share, as revenues were much weaker than expected.
Revenues declined 14% year over year to $8.14 billion from $9.44 billion, and compare to consensus of $8.65 billion and our estimate of $$8.87 billion. This shortfall largely reflected lower shipment volumes, a tougher pricing environment, and lower fuel surcharges at FedEx Express and FedEx Freight, where revenues dropped 18% and 21%, respectively.
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