Continucare Corp. yesterday reported its first quarter fiscal year 2010 financial results. The company reported a 113% increase in net income and continued strength in the business with higher quarter-ending cash and working capital balances.

Richard C. Pfenniger, Jr., Continucare’s Chairman and Chief Executive Officer commented, “We are extremely pleased with our first quarter results,” “Record revenues, improved utilization outcomes and operating efficiencies resulted in a 113% increase in net income. Also, during the quarter we added an important new dimension to our business with the launch of Seredor Corporation and the acquisition of our first sleep diagnostic centers.”

First Quarter Highlights Include:

Revenues increased 17% compared to $65.1 million for the same period last year, with total revenue of $76.0 million Income from operations increased 116% to $8.6 million, compared to $4.0 million for the same period last year Launch of Seredor Corporation, a new sleep diagnostic center subsidiary to

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FirstEnergy Corp. (FE) posted third-quarter adjusted of $1.11 per share, topping the Zacks Consensus Estimate by 9 cents. The better-than-expected results were driven by reduced costs, improved efficiencies and increased share in the generation business. However, earnings in the quarter were below $1.59 reported a year ago, primarily due to a weak economy and mild weather.  Net revenue in the quarter decreased 13% year over year to $3.4 billion, hurt by reduced demand for electricity during the recession.  Total electric distribution deliveries decreased 10%, compared to last year, with residential and commercial deliveries declining 8% and 6%, respectively, mainly due to mild weather. Industrial deliveries slipped 16% on weak economy. Total electric generation sales in the quarter were down 11% year-over-year, with retail sales down 11% and wholesale sales down 10%.  Despite declining consumption, FirstEnergy benefited from its cost reduction efforts during the quarter. Total ...

A stronger Japanese yen against the dollar may prompt Honda Motor (HMC) to shift production of its Fit model from Japan to the U.S. This is mainly because Fit is one of the Honda’s models that attracted attention in the U.S. but are imported from Japan. However, the strengthening of yen against dollar to around 90 is narrowing down the company’s revenues in Japan upon translation.  So far, Honda has focused on regional manufacturing strategy for its vehicles. The company produces about 80% of all the vehicles sold in the U.S. However, the 5-door hatchback Fit – introduced in Japan in 2001 and launched in the U.S. market in 2006 – is manufactured at a facility outside Tokyo.  The model gained huge importance in the U.S. due to its fuel-efficiency (30 mpg). For the first nine months of the year, Fit sales in the U.S. were ...

Wayne Savings Bancshares, Inc. reported earnings for its second fiscal quarter of 2009 totaling $652,000, or $0.23 per share. This was up slightly from the $601,000, or $0.21 per share, it reported in the same quarter last year.

Wayne Savings Bancshares, Inc. achieved year over year growth in net income despite a quadrupling of loan loss reserves from $100,000 to $380,000. The bank reported 1.37%, or $5.5 million, of its total assets as nonperforming as of 9/30/2009.

The bank saw its net interest income increase $284,000 on a year over year basis as interest expenses fell by a greater amount than interest income. Wayne Savings Bancshares, Inc. was also able to grow its book value per share from $11.46 reported six months earlier to $12.16 per share.

Wayne Savings Bancshares, Inc. is the holding company for Wayne Savings Community Bank, which has 11 branches in Ohio. The bank has

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Goodyear Tire & Rubber Co. (GT) will release its sales and earnings results for the third quarter before the markets open on Wednesday, Oct 28. The Akron, Ohio-based tire manufacturing company – one of the largest worldwide – reported a net loss of $221 million or 92 cents per share in the second quarter of 2009, worse than the Zacks Consensus Estimate loss of 72 cents per share. The company reported earnings of $75 million or 31 cents per share in the same quarter a year back.   Total segment operating income plummeted 93% to $24 million in the second quarter from $330 million in the prior-year quarter. This can be attributed to continued weak demand that resulted in a negative volume impact of $129 million and under-absorbed fixed costs of approximately $250 million prior to a restructuring actions benefit.   However, Goodyear witnessed a sequential improvement in ...

Dr Stock Pick HOT News & Alerts!

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FREE Daily Stock Alerts From DrStockPick.com

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Monday October 19, 2009

DrStockPick.com Stock Report!

AMGN, PWRM, JNJ, CSRH, GE, CVAT, TEVA, AQNM

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AMGN, Amgen Inc.

AMGN, a biotechnology company, engages in the discovery, development, manufacture, and marketing of human therapeutics based on advances in cellular and molecular biology.

The Food and Drug Administration wants more information about AMGN’s osteoporosis treatment Prolia before granting marketing approval. It delays a drug seen as a potential blockbuster for the company.

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PWRM, Power 3 Medical Products Inc, PWRM.OB

Power3 Medical Products, Inc. is a leading bio-medical company engaged in the commercialization of neurodegenerative disease and cancer biomarkers, pathways, and mechanisms of diseases through the development of

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Westway Group, Inc., a provider of bulk liquid storage services and a leading manufacturer/distributor of liquid animal feed supplements, recently announced that the company’s wholly owned subsidiary, Westway Terminal Cincinnati, LLC, has acquired the storage assets, contractual relationships and property of Southside River-Rail Terminal, Inc. located in Cincinnati, Ohio for approximately $20 million in cash.

As one of the largest independent, full-service bulk liquid handling facilities in the Midwestern United States, Southside River-Rail handles barges, rail and truck operations, and has over 35 million gallons of bulk liquid storage capacity. The terminal facility that was acquired by Westway is located immediately adjacent to an existing Westway-owned liquid animal feed supplement operation, which will provide synergies for both the terminal and feed operations.

“We are excited about the addition of Southside River-Rail to our portfolio, which brings Westway’s total storage capacity to over 350 million gallons,” stated Wayne Driggers, chief operating

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General Dynamics Corporation (GD) recently received a $647 million contract from the U.S. Army TACOM Lifecycle Management Command for production of 352 Stryker vehicles. The contract was awarded to General Dynamics’ subsidiary General Dynamics Land Systems. The company expects to begin vehicle deliveries in July 2010. Work on the contract will be performed in Anniston, AL; Sterling Heights, MI; Lima, OH; and Ontario, Canada. The Stryker contract was originally awarded to General Dynamics in 2000. To date, the company has delivered 2,988 vehicles and trained 18,438 soldiers in their operations. The U.S. Army has seven Stryker Brigade Combat Teams, three of which are deployed in combat zones - two in Iraq and one in Afghanistan. Earlier, General Dynamics had maintained its brisk pace in order booking, taking the total backlog at the end of the second quarter of fiscal 2009 to $67.6 billion. This was ...

Anpath Group, Inc., a producer of cleaning and disinfecting products that help prevent the spread of infectious microorganisms while minimizing the harmful effects on people, equipment and the environment, recently announced that the company has expanded its distribution capabilities with the signing of an agreement with ZayMat Distributors of Cleveland, Ohio.

ZayMat Distributors is owned and operated by Terrell Dillard, president and master franchise owner of Jan-Pro Cleaning Systems. Under the terms of the agreement, ZayMat will distribute Anpath’s products, including EnviroTru®, through its Jan-Pro network. Registered with the Environmental Protection Agency (EPA) for meeting the requirements for Toxicity Category IV, EnviroTru® is a multi-purpose disinfectant, sanitizer and deodorizing cleaner effective against various organisms.

Commenting on the distribution agreement, Mr. Dillard stated, “We currently provide full-service cleaning solutions, products and chemicals to several hundred clients, daily.” He concluded, “The addition of EnviroTru® to our offering provides us with a distinct advantage.

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NCR Corporation (NCR) has declared that its Chief Financial Officer (CFO) Anthony Massetti will resign on October 23, the day after the company’s third-quarter earnings release. Massetti will take up a new assignment with telecommunications major Avaya Inc. Robert Fishman, corporate controller, will take the responsibility as interim CFO until NCR finds a replacement for the CFO position. During May 2007 to January 2008, Fishman had been interim CFO at NCR and joined the company way back in 1993. He looked after the finance function of the company at various positions. This recent news had a negative impact on the share price of the company, which took a hit on Thursday, a day after NCR announced the news. NCR’s last closing price on Oct. 8th was $11.82, down around 12.5% from the previous day's close. NCR is moving its corporate headquarters to Georgia from Ohio, cutting ...