Zacks Analyst Blog Highlights: UBS AG, Hawaiian Electric Industries, Inc., Cabela’s Inc., Banco Santander Central Hispano SA and Marvel Entertainment.

For Immediate Release

Chicago, IL – May 7, 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: UBS AG (UBS - Snapshot Report), Hawaiian Electric Industries, Inc. (HE - Analyst Report), Cabela’s Inc. (CAB - Analyst Report), Banco Santander Central Hispano SA (STD - Snapshot Report) and Marvel Entertainment (MVL - Analyst Report).

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Here are highlights from Wednesday’s Analyst Blog:

UBS Reports Pre-Announced Loss

As pre-announced, UBS AG (UBS - Snapshot Report) reported a net loss from continuing operations attributable to UBS shareholders of CHF1.98 billion, driven by trading losses of CHF630 million at the Investment Bank as it continues to shed risky assets. This compares to a loss of CHF11.69 billion in last year’s first quarter, hurt by exceptionally large trading losses of CHF11.63 billion.

Net fee and commission income also experienced declines due to weaker capital markets: brokerage fees fell 27%, investment fund fees were off 36%, and portfolio management and advisory fees slumped 31%. This performance also reflected net new money outflows of CHF23.4 billion at Wealth Management & Swiss Bank and CHF7.7 billion at Global Asset Management. Positively, Wealth Management Americas had net new money inflows of CHF16.2 billion.

Hawaiian Electric Disappoints

Hawaiian Electric Industries, Inc. (HE - Analyst Report) reported $20.4 million, or $0.22 per diluted share ($0.23 basic), consolidated net income in the 1st quarter of 2009, compared to $34 million, or $0.41 per share (basic and diluted) in the year-ago quarter. Similarly, consolidated revenue of $543.8 million in the reported 1st quarter of 2009 was lower compared with revenue of $729.6 million in the 1st quarter of 2008.

Electric utility net income for the 1st quarter of 2009 was $14.1 million compared with $24.6 million in 2008. Lower net income was primarily due to lower electric sales and higher operations and maintenance expenses. Kilowatt-hour sales were down 7.4% in the reported compared with the year-ago quarter, impacting utility net income by an estimated $9 million. Sales were down mainly due to cooler, less humid weather and one less day of sales due to the leap year day in 2008.

Cabela's Estimates Adjusted

Cabela’s Inc. (CAB - Analyst Report) is a direct marketer and a retailer of hunting, fishing, camping and related outdoor merchandise.

The company reported in-line results for the first quarter. Sales were driven by strong demand for guns and ammunition, which helped it produce 8.2% growth in same-store sales. However, the retailer’s direct business and financial services both declined year-on-year.

Banco Santander Target Price: $7

We are continuing our Sell rating on Banco Santander Central Hispano SA (STD - Snapshot Report) as well as our $7 target price.

Santander reported 2009 first quarter net earnings of 2.1 billion, down 4% year over year but above our estimate, as net revenues were higher than anticipated. Net interest income (NII) rose 22% year over year to 6.2 billion on a higher volume of loans and better lending spreads. In addition, NII benefited from the acquisitions of Sovereign, Alliance & Leicester, and GE.

Marvel: Licensing Upside in 1Q09

Marvel Entertainment’s (MVL - Analyst Report) characters are demonstrating super-human resiliency to the recession. The comic book publisher reported 1Q09 EPS of $0.57, trouncing the Zacks estimate ($0.35) and the consensus ($0.36), driven largely by the timing of film revenue recognition, but also by better-than-expected licensing and film production results.

EPS in the year-ago quarter was $0.58, benefiting from the release of two self-produced films. No films were released in 1Q09.

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