Business & Finance
Business and Finance
Business and Finance 
Tue, May 11, 2010
Mon, May 10, 2010
Hilltop Holdings Inc., JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and American Medical Systems Holdings, In
CHICAGO--([ BUSINESS WIRE ])--Zacks.com Analyst Blog features: Hilltop Holdings Inc. (NYSE: [ HTH ]), JPMorgan Chase & Co. (NYSE: [ JPM ]), Bank of America Corp. (NYSE: [ BAC ]), Wells Fargo & Co. (NYSE: [ WFC ]) and American Medical Systems Holdings, Inc. (Nasdaq: [ AMMD ]).
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Here are highlights from Fridaya™s Analyst Blog:
Hilltop Beats Zacks Estimate
Recently, Hilltop Holdings Inc. (NYSE: [ HTH ]) filed its 10-Q to report the first quarter results of 2010. Net loss attributable to common stockholders increased 71.3% to $2.09 million or 4 cents per share from a net loss of $1.22 million or 2 cents per share in the year-ago period. However, this came in line with the Zacks Consensus Estimate of a loss of 4 cents per share.
Results benefited from marginal growth in direct and net premiums written due to the development of additional insurance products and new agency relationships along with net realized gain and other income. However, this growth was offset by higher operating expenses and decline in premiums earned that led to a deteriorating bottom-line and a negative operating cash flow.
As of Mar 31, 2010, Hilltop had investments of approximately $733 million in overnight deposits at JPMorgan Chase & Co. (NYSE: [ JPM ]), Bank of America Corp. (NYSE: [ BAC ]) and Wells Fargo & Co. (NYSE: [ WFC ]). These investments are in excess of the Federal Deposit Insurance Corporation (FDIC) insurance limit.
American Medical Outperforms
American Medical Systems Holdings, Inc. (Nasdaq: [ AMMD ]) reported fiscal first-quarter earnings per share of 29 cents, outperforming both the Zacks Consensus Estimate and the year-ago earnings of 25 cents.EPS results came inhigher than the companya™s own expectations of 23 to 26 cents.
Total revenues in the first quarter increased 9.1% year over year to $134.9 million. Excluding a favorable foreign currency translation, net sales increased 7.1% year over year.
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