N🟁N

Goldman Sachs Group Inc., Credit Suisse Group, Morgan Stanley, Teva Pharmaceutical Industries and Mylan

  //business-finance.news-articles.net/content/201 .. ey-teva-pharmaceutical-industries-and-mylan.html
  Published in Business and Finance on Thursday, May 13th 2010 at 14:10 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

CHICAGO--([ BUSINESS WIRE ])--Zacks.com Analyst Blog features: Goldman Sachs Group Inc. (NYSE: [ GS ]), Credit Suisse Group (NYSE: [ CS ]), Morgan Stanley (NYSE: [ MS ]), Teva Pharmaceutical Industries (Nasdaq: [ TEVA ]) and Mylan (Nasdaq: [ MYL ]).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: [ http://at.zacks.com/?id=4579 ]

Here are highlights from Wednesdaya™s Analyst Blog:

Goldman Sachs: Earnings Scorecard

Goldman Sachs Group Inc. (NYSE: [ GS ]) reported first quarter earnings of 2010 on Apr 20th that were significantly ahead of the Zacks Consensus Estimate, led by strong top-line growth though partially offset by higher-than-expected operating expenses. However, investorsa™ reactions on the better-than-expected results were quite tepid on the Wall Street due to the ongoing litigation issues that drained out the excitement.

Consequently, the stock has continued to fall since its earnings release. Below we will cover the results of the recent earnings announcement, subsequent analyst estimate revisions and Zacks ratings for the short term and long term outlook for the stock.

Earnings Report Review

Ita™s always encouraging to outperform estimates, particularly when the difference is substantial enough to gain optimism for a promising future. A quick look on the top-line reveals that while trading operations remained persistently strong, investment banking operations improved year-over-year. However, asset management services remained weak on the backdrop of a sluggish macro economic environment that resulted in significant money market outflows.

Goldman tops the industry by acquiring the leading position in the world-wide announced and completed M&A and public common stock offering year-to-date, putting behind it top rivals such as Credit Suisse Group (NYSE: [ CS ]) (#2) and Morgan Stanley (NYSE: [ MS ]) (#3). The company advised on a number of sizeable transactions during the first quarter of 2010.

Earnings Estimate Revisions - Overview

Estimates have witnessed modest movement for Goldman since the earnings release. This is not bad news at all. In fact, it gives quite a valid reason to own a stock that benefits from good news and provides a scope for rising in the future.

Teva Beats, Maintains Outlook

Teva Pharmaceutical Industriesa™ (Nasdaq: [ TEVA ]) first quarter earnings of 91 cents per American Depository Share (ADS) was well above the Zacks Consensus Estimate of 89 cents and the year-ago earnings of 71 cents. Tevaa™s top-line performance remained strong with revenues increasing 16% to $3.7 billion. Strong sales of Copaxone and generics helped drive revenues.

Revenue performance across key business segments was mixed. While the Pharmaceuticals segment performed well thanks to strong performances in the North American, European and international segments, the Active Pharmaceutical Ingredients (API) segment reported a 13.7% decline in growth with sales coming in at $139 million.

Pharmaceutical segment revenues were driven by strong performances in the North American, European and international segments. The launch of a generic version of Mirapex and continued strong sales from existing products like generic versions of Pulmicort Respules, Adderall XR, Accutane, and Eloxatin helped North American revenues grow 20% to $2,309 million.

Meanwhile, key branded product, Copaxone, continued to impress with global in-market sales increasing 28% to $796 million. While US in-market sales increased 19% to $513 million, ex-US in-market sales totaled $283 million, up 48%. Unfortunately, Mylan (Nasdaq: [ MYL ]) is looking to launch a generic version of Copaxone.

Teva is currently seeking approval for a new formulation of Copaxone which could hit the market early next year.

Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: [ http://at.zacks.com/?id=5514 ].

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: [ http://at.zacks.com/?id=5516 ]

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at [ http://at.zacks.com/?id=4580 ].

Visit [ http://www.zacks.com/performance ] for information about the performance numbers displayed in this press release.

Follow us on Twitter: [ http://twitter.com/zacksresearch ]

Join us on Facebook: [ http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts ]

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.