For Immediate Release
Chicago, IL – September 11, 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 HSBC Holdings plc(HBC - Analyst Report), Enstar Group Limited(ESGR - Snapshot Report), First Niagara Financial Group Inc.(FNFG - Snapshot Report), Capital One Financial Corporation(COF - Analyst Report) and Marriott International Inc.((MAR - 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 Monday’s Analyst Blog:
HSBC Offloads Insurance Units
In the latest move to do away with its non-core operations and assets,HSBC Holdings plc(HBC - Analyst Report) announced last week that it is planning to divest two of its U.S. insurance businesses to Bermuda-basedEnstar Group Limited(ESGR - Snapshot Report) for $181 million in cash. Household Insurance Group Holding Company, an affiliate of HSBC, will be divesting Household Life Insurance Company and HSBC Insurance Company.
Both firms, which are to be divested, write life insurance and related products that comprise credit insurance, term life insurance, assumed reinsurance, corporate owned life insurance and annuities for the U.S. and Canadian clients. HSBC had acquired Household International Inc. in 2003 and integrated the latter with its subsidiary Household Finance Corporation.
The deal is still subject to regulatory approvals as well as other customary closing conditions. HSBC stated that the transaction is expected to be closed by early next year.
The deal is a part of HSBC’s long-term strategy to revamp its operations in order to stabilize the capital levels and improve efficiency. In May 2011, the CEO of the company had announced plans to reduce the operating expenses by $3.5 million by the end of 2013, through restructuring and contraction of its global business. Further, in August 2011, HSBC also announced its plans to trim down the workforce by 30,000 in the next two years.
With the main intention of focusing more on the fast-growing and profitable markets, HSBC has made significant progress in shedding its unprofitable and non-core operations by divesting or closing more than 35 of its operations across the globe. The major divestitures include the sale of 195 non-strategic branches in the U.S. toFirst Niagara Financial Group Inc.(FNFG - Snapshot Report) and its U.S. credit card business toCapital One Financial Corporation(COF - Analyst Report).
Moreover, earlier this year, HSBC announced the sale of its general insurance businesses in Asia and Latin America for $914 million. The company will be divesting its general insurance units in Hong Kong, Singapore, Argentina and Mexico to Australia's QBE Insurance Group Ltd. and France-based AXA Group in two separate deals.
Currently, HSBC retains a Zacks #4 Rank, which translates into a short-term Sell rating. However, considering the fundamentals, we maintain a long term Neutral recommendation on the stock.
Brown Palace Under Marriott’s Roof
Autograph Collection, one of the upscale brands ofMarriott International Inc.((MAR - Analyst Report)),recently added Denver-based Brown Palace Hotel and Spa to its growing pool of independently owned and operated high-quality assets.
Founded in 1892, the Brown Palace Hotel will continue to be operated by Quorum Hotels & Resorts, which has been associated with the hotel since 1987. Financial terms of the deal were not disclosed.
The latest Brown Palace deal marks the 35th addition to Autograph Collection's global portfolio. Launched in January 2010, Autograph Collection’s properties sprawl over the United States, Europe, the Caribbean and South America.
Since its opening, the brand has been gaining strong momentum. The fact can be validated by its RevPAR growth of 12% in fiscal 2011. Marriott expects to have more than 50 Autograph hotels opened by the end of 2012.
The concept boasts prestigious properties like Turnberry Isle Miami in Miami, Florida, The Algonquin Hotel in New York, New York, the Cosmopolitan of Las Vegas in Las Vegas, Nevada, and The Saint Hotel in New Orleans, Louisiana. Many owners are willing to renovate or reposition hotels in order to join the Autograph Collection and come under the Marriott brand.
We view the deal as strategically positive for both the parties. The deal paves the way for Brown Palace hotel to reap the benefit from Marriott’s much greater scale, industry leading reservations and marketing system, as well as rewards loyalty program.
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.
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For Immediate Release
Chicago, IL – September 11, 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 HSBC Holdings plc(HBC - Analyst Report), Enstar Group Limited(ESGR - Snapshot Report), First Niagara Financial Group Inc.(FNFG - Snapshot Report), Capital One Financial Corporation(COF - Analyst Report) and Marriott International Inc.((MAR - 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 Monday’s Analyst Blog:
HSBC Offloads Insurance Units
In the latest move to do away with its non-core operations and assets,HSBC Holdings plc(HBC - Analyst Report) announced last week that it is planning to divest two of its U.S. insurance businesses to Bermuda-basedEnstar Group Limited(ESGR - Snapshot Report) for $181 million in cash. Household Insurance Group Holding Company, an affiliate of HSBC, will be divesting Household Life Insurance Company and HSBC Insurance Company.
Both firms, which are to be divested, write life insurance and related products that comprise credit insurance, term life insurance, assumed reinsurance, corporate owned life insurance and annuities for the U.S. and Canadian clients. HSBC had acquired Household International Inc. in 2003 and integrated the latter with its subsidiary Household Finance Corporation.
The deal is still subject to regulatory approvals as well as other customary closing conditions. HSBC stated that the transaction is expected to be closed by early next year.
The deal is a part of HSBC’s long-term strategy to revamp its operations in order to stabilize the capital levels and improve efficiency. In May 2011, the CEO of the company had announced plans to reduce the operating expenses by $3.5 million by the end of 2013, through restructuring and contraction of its global business. Further, in August 2011, HSBC also announced its plans to trim down the workforce by 30,000 in the next two years.
With the main intention of focusing more on the fast-growing and profitable markets, HSBC has made significant progress in shedding its unprofitable and non-core operations by divesting or closing more than 35 of its operations across the globe. The major divestitures include the sale of 195 non-strategic branches in the U.S. toFirst Niagara Financial Group Inc.(FNFG - Snapshot Report) and its U.S. credit card business toCapital One Financial Corporation(COF - Analyst Report).
Moreover, earlier this year, HSBC announced the sale of its general insurance businesses in Asia and Latin America for $914 million. The company will be divesting its general insurance units in Hong Kong, Singapore, Argentina and Mexico to Australia's QBE Insurance Group Ltd. and France-based AXA Group in two separate deals.
Currently, HSBC retains a Zacks #4 Rank, which translates into a short-term Sell rating. However, considering the fundamentals, we maintain a long term Neutral recommendation on the stock.
Brown Palace Under Marriott’s Roof
Autograph Collection, one of the upscale brands ofMarriott International Inc.((MAR - Analyst Report)),recently added Denver-based Brown Palace Hotel and Spa to its growing pool of independently owned and operated high-quality assets.
Founded in 1892, the Brown Palace Hotel will continue to be operated by Quorum Hotels & Resorts, which has been associated with the hotel since 1987. Financial terms of the deal were not disclosed.
The latest Brown Palace deal marks the 35th addition to Autograph Collection's global portfolio. Launched in January 2010, Autograph Collection’s properties sprawl over the United States, Europe, the Caribbean and South America.
Since its opening, the brand has been gaining strong momentum. The fact can be validated by its RevPAR growth of 12% in fiscal 2011. Marriott expects to have more than 50 Autograph hotels opened by the end of 2012.
The concept boasts prestigious properties like Turnberry Isle Miami in Miami, Florida, The Algonquin Hotel in New York, New York, the Cosmopolitan of Las Vegas in Las Vegas, Nevada, and The Saint Hotel in New Orleans, Louisiana. Many owners are willing to renovate or reposition hotels in order to join the Autograph Collection and come under the Marriott brand.
We view the deal as strategically positive for both the parties. The deal paves the way for Brown Palace hotel to reap the benefit from Marriott’s much greater scale, industry leading reservations and marketing system, as well as rewards loyalty program.
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
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