Zacks Analyst Blog Highlights: DirecTV Group Inc., Liberty Entertainment, Liberty Media Corp., United Therapeutics Corp. and Shire Plc. – Press Releases
Source: http://www.zacks.com/stock/news/19876/Zacks+Analyst+Blog+Highlights%3A+DirecTV+Group+Inc.%2C+Liberty+Entertainment%2C+Liberty+Media+Corp.%2C+United+Therapeutics+Corp.+and+Shire+Plc.+-+Press+ReleasesPosted on Wednesday, May 6th, 2009 | In Market Commentary, Stocks to Watch
For Immediate Release
Chicago, IL – May 6, 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: DirecTV Group Inc. (DTV), Liberty Entertainment (LMDIA), Liberty Media Corp. (LINTA), United Therapeutics Corp. (UTHR) and Shire Plc (SHPGY).
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Here are highlights from Tuesday’s Analyst Blog:
DTV Gains Content, Independence
DirecTV Group Inc. (DTV) — in a move to gain autonomy and potentially sell itself — will merge with its majority shareholder, Liberty Entertainment (LMDIA) after that entity’s previously-announced spinoff from its parent Liberty Media Corp. (LINTA).
The post-spinoff DirecTV will own 54% of the common stock of DirecTV, and gain content assets — three regional sports networks, the majority of the Game Show Network and Internet game company FUN Technologies.
United Therapeutics Awaits FDA
United Therapeutics Corp. (UTHR) posted financial results for the first quarter 2009 on May 1, 2009. Total revenues for the quarter were $79.7 million, up 29% from the first quarter in 2008. Revenues consisted of $76.9 million in sales of IV/SC Remodulin and $2.9 million in service, distributor and licensing fees.
Net income on a GAAP basis totaled $13.2 million, up 16% from last year. This equated to EPS of $0.49. Net income adjusted for non-cash expenses, including stock-based compensation, amortization or debt expense, depreciation and amortization, and non-cash taxes, totaled $37.0 million, an increase of 43% from the adjusted first quarter in 2008, and equated to $1.36 in adjusted EPS. This was roughly 28% growth over the first quarter in 2008. United Therapeutics exited the first quarter 2009 with $319.4 million in cash and equivalents.
Shire’s New Products to Take Over
While the loss of exclusivity of Adderall XR will result in revenue falling in 2009 relative to 2008 for Shire Plc (SHPGY), we believe Vyvanse will be able to continue to post strong sales growth due to its strong differentiating characteristics. We believe the drug is much more than just an Adderall XR substitute, which should allow continued share gains despite significantly more generic competition. The adult indication should provide an additional catalyst to growth.
The recent launch of Mezavant in Europe and Canada and the continued ramp of Fosrenol in Europe should make significant positive impacts on the top-line going forward. Eleprase should ramp very quickly with the recent approvals in Canada, Europe, Japan, Mexico, Russia and Brazil, and should be a big contributor to sales growth. Lialda uptake has been very impressive and we expect additional market share penetration, despite Takeda no longer co-promoting the product. And while we were mildly disappointed with the ramp of Vyvanse through 2008, first quarter 2009 sales were inline with our forecast and we expect strong sales growth for the remainder of 2009.
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