For Immediate Release
Chicago, IL – September 07, 2012 – 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 The Goldman Sachs Group Inc. (
GS
- Analyst Report
)
, Citigroup Inc. (
C
- Analyst Report
)
, UBS AG (
UBS
- Analyst Report
)
, Morgan Stanley (
MS
- Analyst Report
)
and General Mills Inc. (
GIS
- Analyst Report
)
.
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Thursday’s Analyst Blog:
Goldman, City, UBS Hauled to Court
IKB Deutsche Industriebank AG (IKB), a German lender, filed a lawsuit against The Goldman Sachs Group Inc. (
GS
- Analyst Report
)
and Citigroup Inc. (
C
- Analyst Report
)
for misrepresentation of documents while selling securities. Moreover, UBS AG (
UBS
- Analyst Report
)
was also sued by Sealink Funding Ltd.
The lodged complaint accuses Goldman, Citi and UBS of presenting misleading documents related to the sale of over $73.2 million, $137.4 million and $158.1 million, respectively, in residential mortgage-backed securities.
Claimants alleged that these companies issued misleading statements with omissions related to the mortgage-backed securities and concealed risks associated with these securities. Both IKB and Sealink claim that the documents used for offering the securities contained fraudulent statements or omissions regarding the risks associated with the investments. Misinterpretation of these risks led to the investments, which incurred losses at current levels.
Both IKB and Sealink have filed the lawsuits in the New York State Supreme Court in Manhattan and demand compensation for the damages. However, Goldman, Citi and UBS have refrained from commenting on the issue.
Moreover, troubles for Goldman seem to be unending, as only recently it was sued by another German lender-Bayerische Landesbank in the Supreme Court over the same issue for $511.9 in securities.
The array of lawsuits has continued for the U.S. banks since the financial meltdown. Last month, another Wall Street Biggie - Morgan Stanley (
MS
- Analyst Report
)
along with Goldman was sued by HSH Nordbank AG, a German lender related for the sale of over $524 million and $110 million, respectively, in residential mortgage-backed securities.
Numerous lawsuits alleging banks of such wrongdoings are expected to tarnish their reputation and financials over time. However, the investors and other financial institutions bearing the brunt of these faulty practices are expected to be fairly compensated.
Shares of both Goldman and Citi currently retain a Zacks #3 Rank, which translates into a short-term Hold rating, while UBS retains a Zacks #4 Rank, which translates into a short-term Sell rating.
General Mills Retains 2013 Guidance
General Mills Inc. (
GIS
- Analyst Report
)
reaffirmed its sales and earnings guidance for fiscal 2013. The company continues to expect adjusted diluted earnings per share of about $2.65 for fiscal 2013, a penny lower than the Zacks Consensus estimate of $2.66.
Earnings are expected to decline year over year in the first quarter of fiscal 2013, and then grow in the remaining nine months. The Zacks Consensus Estimate for the first quarter is 62 cents, down a couple of cents from the 64 cents reported in the year-ago quarter and down 6 cents since the company reported its fiscal fourth quarter results.
General Mills had a good fourth quarter, with earnings of 60 cents per share beating the Zacks Consensus Estimate by 3.4%. Earnings also topped the year-ago results by 15% driven by good top-line growth and cost savings despite significant rise in input cost.
Total revenue of the global consumer food company increased 12% year over year to $4.07 billion benefiting mainly from the addition of Yoplait entities, which were acquired in July last year.
The company expects to post mid-single digit growth in net sales in fiscal 2013 due to the recent acquisitions of Yoplait International, Parampara in India and Food Should Taste Good in the United States.
Gross margins are expected to improve modestly from 2012 levels. Operating profits are expected to grow slightly faster than sales in a mid-single digit range as cost savings and mix management offset commodity cost inflation.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
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 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: http://at.zacks.com/?id=5517
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon 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=5518.
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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 Contact
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support@zacks.com
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For Immediate Release
Chicago, IL – September 07, 2012 – 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 The Goldman Sachs Group Inc. ( GS - Analyst Report ) , Citigroup Inc. ( C - Analyst Report ) , UBS AG ( UBS - Analyst Report ) , Morgan Stanley ( MS - Analyst Report ) and General Mills Inc. ( GIS - Analyst Report ) .
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Thursday’s Analyst Blog:
Goldman, City, UBS Hauled to Court
IKB Deutsche Industriebank AG (IKB), a German lender, filed a lawsuit against The Goldman Sachs Group Inc. ( GS - Analyst Report ) and Citigroup Inc. ( C - Analyst Report ) for misrepresentation of documents while selling securities. Moreover, UBS AG ( UBS - Analyst Report ) was also sued by Sealink Funding Ltd.
The lodged complaint accuses Goldman, Citi and UBS of presenting misleading documents related to the sale of over $73.2 million, $137.4 million and $158.1 million, respectively, in residential mortgage-backed securities.
Claimants alleged that these companies issued misleading statements with omissions related to the mortgage-backed securities and concealed risks associated with these securities. Both IKB and Sealink claim that the documents used for offering the securities contained fraudulent statements or omissions regarding the risks associated with the investments. Misinterpretation of these risks led to the investments, which incurred losses at current levels.
Both IKB and Sealink have filed the lawsuits in the New York State Supreme Court in Manhattan and demand compensation for the damages. However, Goldman, Citi and UBS have refrained from commenting on the issue.
Moreover, troubles for Goldman seem to be unending, as only recently it was sued by another German lender-Bayerische Landesbank in the Supreme Court over the same issue for $511.9 in securities.
The array of lawsuits has continued for the U.S. banks since the financial meltdown. Last month, another Wall Street Biggie - Morgan Stanley ( MS - Analyst Report ) along with Goldman was sued by HSH Nordbank AG, a German lender related for the sale of over $524 million and $110 million, respectively, in residential mortgage-backed securities.
Numerous lawsuits alleging banks of such wrongdoings are expected to tarnish their reputation and financials over time. However, the investors and other financial institutions bearing the brunt of these faulty practices are expected to be fairly compensated.
Shares of both Goldman and Citi currently retain a Zacks #3 Rank, which translates into a short-term Hold rating, while UBS retains a Zacks #4 Rank, which translates into a short-term Sell rating.
General Mills Retains 2013 Guidance
General Mills Inc. ( GIS - Analyst Report ) reaffirmed its sales and earnings guidance for fiscal 2013. The company continues to expect adjusted diluted earnings per share of about $2.65 for fiscal 2013, a penny lower than the Zacks Consensus estimate of $2.66.
Earnings are expected to decline year over year in the first quarter of fiscal 2013, and then grow in the remaining nine months. The Zacks Consensus Estimate for the first quarter is 62 cents, down a couple of cents from the 64 cents reported in the year-ago quarter and down 6 cents since the company reported its fiscal fourth quarter results.
General Mills had a good fourth quarter, with earnings of 60 cents per share beating the Zacks Consensus Estimate by 3.4%. Earnings also topped the year-ago results by 15% driven by good top-line growth and cost savings despite significant rise in input cost.
Total revenue of the global consumer food company increased 12% year over year to $4.07 billion benefiting mainly from the addition of Yoplait entities, which were acquired in July last year.
The company expects to post mid-single digit growth in net sales in fiscal 2013 due to the recent acquisitions of Yoplait International, Parampara in India and Food Should Taste Good in the United States.
Gross margins are expected to improve modestly from 2012 levels. Operating profits are expected to grow slightly faster than sales in a mid-single digit range as cost savings and mix management offset commodity cost inflation.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
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 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: http://at.zacks.com/?id=5517
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon 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=5518.
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 Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
http://www.zacks.com
Read the full reports :
Analyst Report on GS
Analyst Report on C
Analyst Report on UBS
Analyst Report on MS
Analyst Report on GIS