Wednesday, July 20, 2011
Yahoo! Reports In-Line, Misses on Revenue
Yahoo! (Nasdaq: YHOO) reported second quarter EPS of 18 cents, in-line with the Zacks Consensus Estimate. This snaps the company's streak of five consecutive positive earnings surprises.
It was an 18% increase over the same quarter in 2010, however.
Source: Zacks.Com
It was an 18% increase over the same quarter in 2010, however.
Source: Zacks.Com
Clorox Rejects Icahn Offer
Clorox Corporation (NYSE: CLX) rejected the recent offer of a conditional acquisition from activist investor Icahn Enterprises L.P. Icahn offered $76.50 per share for Clorox, the offer being subject to due diligence, financing and other conditions. After evaluating and discussing the proposal, Clorox's financial and legal advisers came to the conclusion that the offer undervalues the company.
The advisers pointed out that the company to its credit continues to create shareholder value in the form of dividends and share repurchases. From fiscal 2006 to date, the company has distributed $2.6 billion in cash to stockholders in the form of dividend payouts and share repurchases. The company has consistently increased its dividends, doubling it from $1.20 to $2.40 per diluted share over the past five years
Clorox is one of the world's leading manufacturers of consumer products. Its strong portfolio of brands, including Clorox, Glad, Brita, Armor All, Burt's Bees, STP and Kingsford, offers a competitive edge to the company and bolsters its well-established position in the market.
Moreover, Clorox has established definite financial goals to measure its progress. These goals include 3% to 5% annual sales growth before acquisitions, and 75 to 100 basis points of annual improvement in the operating margin. It speaks for the company that it has competed effectively with peers of the likes of Colgate-Palmolive Co. (NYSE: CL) and Procter & Gamble Co. (NYSE: PG).
We maintain a long-term Neutral recommendation on Clorox Corporation. Moreover, the company has a Zacks #3 Rank, implying a short-term Hold rating on the stock.
Source Zacks.Com
The advisers pointed out that the company to its credit continues to create shareholder value in the form of dividends and share repurchases. From fiscal 2006 to date, the company has distributed $2.6 billion in cash to stockholders in the form of dividend payouts and share repurchases. The company has consistently increased its dividends, doubling it from $1.20 to $2.40 per diluted share over the past five years
Clorox is one of the world's leading manufacturers of consumer products. Its strong portfolio of brands, including Clorox, Glad, Brita, Armor All, Burt's Bees, STP and Kingsford, offers a competitive edge to the company and bolsters its well-established position in the market.
Moreover, Clorox has established definite financial goals to measure its progress. These goals include 3% to 5% annual sales growth before acquisitions, and 75 to 100 basis points of annual improvement in the operating margin. It speaks for the company that it has competed effectively with peers of the likes of Colgate-Palmolive Co. (NYSE: CL) and Procter & Gamble Co. (NYSE: PG).
We maintain a long-term Neutral recommendation on Clorox Corporation. Moreover, the company has a Zacks #3 Rank, implying a short-term Hold rating on the stock.
Source Zacks.Com
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