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Zacks Analyst Blog Highlights: Ness Technologies, American Capital Agency Corp, Biogen Idec, Sohu.com Inc and Cornerstone Therapeutics Inc.
For Immediate Release
Chicago, IL – March 31, 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: Ness Technologies (NSTC - Snapshot Report), American Capital Agency Corp (AGNC - Analyst Report), Biogen Idec (BIIB - Analyst Report), Sohu.com Inc (SOHU - Analyst Report) and Cornerstone Therapeutics Inc (CRTX - Analyst Report).
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Here are highlights from Monday’s Analyst Blog:
Ness Tech with More Downside
Ness Technologies (NSTC - Snapshot Report) is a small player in the IT services market. The company posted mixed 4Q08 results, with revenue below expectation but in line EPS.
The company's Application Development and Software Product Engineering segment performed very well in 4Q08. However, Ness has forecasted lower-than-expected 2009 results, hurt by a slowdown at its U.S. financial services and NessPRO software distribution businesses.
Hold American Capital for Now
American Capital Agency Corp (AGNC - Analyst Report) is a REIT that focuses on investments in mortgage pass-through securities and collateralized mortgage obligations (CMOs).
AGNC reported 4Q08 net income of $11.0 million or $0.73 per share on revenues of $17.1 million. The company reported a 16.5% annualized return on equity in 4Q08. Net interest spreads were 1.19% during the quarter, well below last quarter. Higher funding costs and lower mortgage rates are having a negative effect on spreads.
The Best Pipeline In Biotech
Last week, Biogen Idec (BIIB - Analyst Report) held an R&D Day, highlighting the broad depth of the company's pipeline. In total, Biogen Idec boasts 7 programs in phase III registration programs and 20 other programs in phase II "proof-of-concept" programs. Biogen's development programs span oncology, neurology and cardiovascular disease, and include both small molecules and biologics. In our opinion, it's the best pipeline in biotech.
Besides these late-stage candidates, Biogen has several interesting early-stage programs, including: GA101, a 3rd-generation anti-CD20 Mab with preclinical data suggesting superiority to Rituxan, CDP-323 and daclizumab, two Mabs with potential use in multiple sclerosis, and BIIB-014, an A2a antagonist for Parkinson's Disease.
SOHU: Good Value, Great Growth
Sohu.com Inc (SOHU - Analyst Report) is the second-largest Internet portal and one of the most well-known online brands in China. Sohu's pipeline for its new online games remains strong and is expected to drive meaningful growth in late 2009 and 2010. We are encouraged by the company's growing cash balance as well as its debt-free balance sheet.
We believe that the current stock price does not fully reflect the company's intrinsic value. Concerns related to online ad spending and China's macro economy in 2009 still remains. The company is going to spin-off part of its gaming division via an ADS offering.
Merged CRTX Much Improved
Cornerstone Therapeutics Inc (CRTX - Analyst Report) is a specialty pharmaceutical company focused on acquiring, developing and commercializing prescription products for the respiratory market. Cornerstone Therapeutics is a newly created company following the merger of private Cornerstone BioPharma with public Critical Therapeutics completed on October 31, 2008. The merged company gets a new lease on life, finally.
We think the merger makes sense and is positive to both old companies. For Critical Therapeutics, the merger has greatly expanded its product portfolio, provided better resources for operations and sustainable growth. Critical Therapeutics was a tiny biotech company with only one product -- Zyflo/Zyflo CR -- on the market, with a very weak pipeline. Sales of Zyflo/Zyflo CR have been slow and the company had been under great pressure to expand its portfolio.
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