(Source: Business Wire)
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 (NYSE: UBS), BlackRock Inc. (NYSE: BLK), Ev3 Inc. (Nasdaq: EVVV), Merck & Co. (NYSE: MRK) and Chunghwa Telecom Co. Ltd. (NYSE: CHT).
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Here are highlights from Thursday's Analyst Blog:
UBS Further Writedowns Likely
We are maintaining our Hold on UBS AG (NYSE: UBS). In line with earnings guidance issued on July 4, UBS posted a net loss from continuing operations of CHF415 million for the second quarter.
Positively, UBS continues to reduce its credit market risk positions, including the recent $15 billion sale of mortgage securities to BlackRock (NYSE: BLK). Further writedowns and losses are likely given continued turmoil in the credit markets.
Ev3 Sales Environment Challenges
Ev3 Inc. (Nasdaq: EVVV) reported second-quarter revenue ahead of our estimate, and loss per share below our estimates. However, a challenging sales environment persists, related to disruptions in U.S. sales force integration belonging to the FoxHollow acquisition and inventory-build at customers. Merck (NYSE: MRK) cancelled its research collaboration contract, offset by higher product sales.
The company maintained its 2008 revenue and adjusted EPS outlook. We believe Ev3 will be able to slowly build momentum in the second half of 2008. We remain in-line with the management's annual guidance, expecting the company to earn $0.04 adjusted EPS per share on $426 million in revenue. Our 2009 EPS expectation moves to $0.55 on $500 million in revenue.
Chunghwa Telecom a Solid Buy
We maintain our Buy recommendation and the same valuation target for Chunghwa Telecom Co. Ltd. (NYSE: CHT), the largest integrated telecom operator in Taiwan, ahead of its second quarter fiscal 2008 earnings results.
Robust growth of Internet & Data and Wireless value-added services boosted the sustainable long-term business prospects for the company. We believe the gradual migration to 3G mobile technology is likely to benefit the company's financials moving forward.
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