24/7 Wall St. » A

Agilent Joins The Great Dividend Chase (A)

Administrator — Wed, 18 Jan 2012 17:04:31 +0000

Agilent Technologies Inc. (NYSE: A) is often forgotten about by investors now, but the company operates in more than 100 nations and employs more than 18,000 workers. The company is into chemical analysis, life sciences, electronics and communications. Now it wants to stand out to investors by joining the ranks of established companies which pay shareholders a dividend.

The company has now declared a $0.10 per quarter dividend, which is its first regular dividend paid to shareholders. The payment will be paid on April 25 to holders of record as of the close on April 3.

After a 0.8% gain to $40.30, the goal here was simple: a 1% dividend yield for investors. It is not much at $0.40 on an annualized basis but that implies much room for growth in that payout ahead. The market value is $14 billion today and the $40.30 price compares to a 52-week range of $28.67 to $55.33.

There is a massive coverage ratio here on income versus payouts as well if the company comes anywhere close to its Thomson Reuters estimates. The $0.40 per year compares to earnings estimates of $3.18 EPS for fiscal October-2012 and $3.51 EPS for fiscal October-2013. While those are non-GAAP earnings and companies generally have to base dividends on Cash earnings or GAAP earnings, that comes to only 12.5% of the projected income to be paid out in dividends.

As of October 31, 2011, Agilent had some $3.527 billion in cash and cash equivalents, with total equity at $4.3 billion and net tangible assets of $2.3 billion.

JON C. OGG

Filed under: Corporate Governance, Dividend Tagged: A

24/7 Wall St. Closing Bell (A, CRM, AAP, LOW, ALIM, WMT, BZH, COV, DKS, TJX, SKS, MGI, PEIX, NLST, FFN, MTOR)

Paul Ausick — Tue, 15 Nov 2011 21:04:55 +0000

Stocks opened lower this morning and stayed lower for nearly the entire first half of the day, with buyers most likely waiting to see what would happen with Italian bond rates. The bonds ended the day at a yield slightly above 7%, which was probably not as bad as expected. A solid, if modest, gain took hold in the early afternoon as the October retail sales report turned in a better-than-expected rise. Producer prices were lower, though core inflation was flat, and the Empire State manufacturing index was higher. Crude oil is up nearly 1.5%, at $99.50/barrel, and the euro has given up an early gain against the dollar.

The unofficial closing bells put the DJIA up more than 17 points to 12,096.39 (0.14%), the NASDAQ rose nearly 29 points (1.09%) to 2,686.20, and the S&P 500 rose 0.48% or more than 6 points to 1,257.80.

There were several analyst upgrades and downgrades today, including Agilent Technologies, Inc. (NYSE: A) raised to ‘buy’ at BofA/ML. Other action included Salesforce.com (NYSE: CRM) reiterated at ‘neutral’ by Argus; Advance Auto Parts, Inc. (NYSE: AAP) cut to ‘hold’ at Argus; Lowe’s Companies Inc. (NYSE: LOW) target raised from $25 to $28 at Argus; Alimera Sciences Inc. (NASDAQ: ALIM) cut to ‘neutral’ with a $2 target at Credit Suisse.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Wal-Mart Stores, Inc. (NYSE: WMT) is down about -2.25%, at $57.57; Beazer USA Homes Inc. (NYSE: BZH) is down about -0.5%, at $2.21; Covidien plc (NYSE: COV) is up nearly 2.5%, at $48.44; Dick’s Sporting Goods, Inc. (NYSE: DKS) is up nearly 5.5%, at $41.73; TJX Companies, Inc. (NYSE: TJX) is up about 1% at $61.16; and Saks, Inc. (NYSE: SKS) is up 2.5%, at $10.46. For a more detailed look at today’s retail earnings, see our earlier story.

Several other standouts from today are as follows…

Moneygram International, Inc. (NYSE: MGI) is up about 616%, at $18.68. The company announced a 1-for-8 reverse stock split this morning, shrinking the number of outstanding shares from 1.3 billion to 162.5 million. The stock closed yesterday at $2.61, and posted a new 52-week high this morning of $19.61.

Pacific Ethanol Inc. (NASDAQ: PEIX) is up nearly 30%, at $1.31. There is no direct news from the company, but the price jump is very likely related to an announcement yesterday from Archer Daniels Midland Co. (NYSE: ADM) that it was building a new plant in Canada that would double its annual production of ethanol.

Netlist, Inc. (NASDAQ: NLST) is up more than 24%, at $2.92. The company has signed deals with both IBM Corp. (NYSE: IBM) and Hewlett-Packard Co. (NYSE: HPQ) under which Netlist’s cloud memory product undergo qualification testing for use with the two companies’ servers.

FriendFinder Networks, Inc. (NASDAQ: FFN) is down more than -20%, at $1.50, after posting a new 52-week low of $1.42. The company has been notified of a class-action lawsuit charging that it made false statements related the number of shares of stock subject to the 180-day lock-up period following the company’s IPO last May.

Meritor, Inc. (NYSE: MTOR) is down more than -17%, at $6.58. The company reported solid earnings today, but cut next year’s revenue guidance by about 10%.

Stay tuned for Wednesday. Richmond Federal Reserve Bank president Jeffrey Lacker and Boston Fed president Eric Rosengren are giving speeches tomorrow. Here’s a list of other noteworthy events (all times Eastern):

7:00 a.m. – Mortgage purchase applications
8:30 a.m. – Consumer price index
9:15 a.m. – Federal Reserve industrial production index
10:00 a.m. – Housing market index
10:30 a.m. – EIA weekly petroleum status report

Paul Ausick

Filed under: Analyst Calls, HI/LOW, Market Close Tagged: A, AAP, ALIM, BZH, COV, CRM, DKS, FFN, LOW, MGI, MTOR, NLST, PEIX, SKS, TJX, WMT

Top Analyst Upgrades & Downgrades (AAP, A, ALIM, CNP, CIM, CWTR, GT, K, LOW, M, NU, NST, CRM, FIRE)

Administrator — Tue, 15 Nov 2011 13:39:41 +0000

These are some of Tuesday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.

Advance Auto Parts Inc. (NYSE: AAP) Cut to Hold at Argus.
Agilent Technologies Inc. (NYSE: A) Raised to Buy at BofA/ML.
Alimera Sciences, Inc. (NASDAQ: ALIM) Cut to Neutral with $2 target at Credit Suisse.
CenterPoint Energy, Inc. (NYSE: CNP) Cut to Neutral at BofA/ML.
Chimera Investment Corporation (NYSE: CIM) Reiterated Outperform at Credit Suisse.
Coldwater Creek Inc. (NASDAQ: CWTR) Added to Strong Sell List at Zacks.
Goodyear Tire & Rubber Co. (NYSE: GT) named Bull of the Day at Zacks.
Kellogg Company (NYSE: K) Cut to Sell as Bear of the Day at Zacks.
Lowe’s Companies Inc. (NYSE: LOW) Raised target to $28 from $25 at Argus.
Macy’s Inc. (NYSE: M) named value stock of the day at Zacks.
Northeast Utilities (NYSE: NU) Raised to Buy at BofA/ML.
NSTAR (NYSE: NST) Raised to Buy at BofA/ML.
Salesforce.com Inc. (NYSE: CRM) Reiterated Neutral at Credit Suisse.
Sourcefire, Inc. (NASDAQ: FIRE) Initiated as Buy at BofA/ML.

JON C. OGG

Filed under: Analyst Calls Tagged: A, AAP, ALIM, CIM, CNP, CRM, CWTR, FIRE, GT, K, LOW, M, NST, NU

Top Analyst Upgrades & Downgrades (AET, A, DECK, GPN, TV, HMIN, ITC, IVN, ERIC, MMC, MCD, PAL, RGLD, TEVA, TLAB, TCBI)

Administrator — Mon, 24 Oct 2011 12:25:13 +0000

These are some of this Monday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this morning.

Aetna Inc. (NYSE: AET) added to Strong Buy List at Zacks.
Agilent Technologies Inc. (NYSE: A) Started as Buy at UBS.
Deckers Outdoor Corporation (NASDAQ: DECK) Started as Buy at Canaccord Genuity.
Global Payments Inc. (NYSE: GPN) named as Value Stock of the Day at Zacks.
Grupo Televisa S.A. (NYSE: TV) named as Bear of the Day at Zacks.
Home Inns & Hotels Management Inc. (NASDAQ: HMIN) Started as Buy at Goldman Sachs.
ITC Holdings Corp. (NYSE: ITC) Cut to Hold at Argus.
Ivanhoe Mines Ltd. (NYSE: IVN) Started as Outperform at Credit Suisse.
LM Ericsson Telephone Co. (NASDAQ: ERIC) maintained Neutral but cut target and estimates by Goldman Sachs.
Marsh & McLennan Companies, Inc. (NYSE: MMC) Raised to Overweight at Barclays.
McDonald’s Corporation (NYSE: MCD) Maintained Outperform on Focus List and target raised to $104 at Credit Suisse.
North American Palladium Ltd. (NYSE: PAL) Started as Outperform at Credit Suisse.
Royal Gold, Inc. (NASDAQ: RGLD) Raised to Outperform at National Bank.
Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) Cut to Neutral at Piper Jaffray.
Tellabs Inc. (NASDAQ: TLAB) Cut to Underperform at Zacks.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) named Bull of the Day at Zacks.

JON C. OGG

Filed under: Analyst Calls Tagged: A, AET, DECK, ERIC, GPN, HMIN, ITC, IVN, MCD, MMC, PAL, RGLD, TCBI, TEVA, TLAB, TV

Top Analyst Upgrades & Downgrades (A, AMSG, BUD, AAPL, BBBY, GLW, CMRE, DAC, FTE, NU, PENN, CRM, SSW)

Administrator — Thu, 07 Apr 2011 12:17:43 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Thursday morning.

Agilent Technologies Inc. (NYSE: A) raised targets as Bull of the Day at Zacks.
AmSurg Corp. (NASDAQ: AMSG) Cut price/estimates as Bear of the Day at Zacks.
Anheuser-Busch InBev (NYSE: BUD) Reiterated Buy and $67 target at BofA/ML.
Apple Inc. (NASDAQ: AAPL) Reiterated Strong Buy and $430 target at S&P Equity Research (late yesterday call).
Bed Bath & Beyond Inc. (NASDAQ: BBBY) Reiterated Buy and raised target to $60 at Argus.
Corning Inc. (NYSE: GLW) Maintained Buy and $28 target at BofA/ML.
Costamare Inc. (NASDAQ: CMRE) Reiterated Buy and raised target to $21 at BofA/ML.
Danaos Corporation (NYSE: DAC) Maintained Underperform and $6.50 target at BofA/ML.
France Telecom (NYSE: FTE) Cut to Sell at RBS.
Northeast Utilities (NYSE: NU) Reiterated Buy and raised target to $41 at Argus.
Penn National Gaming Inc. (NASDAQ: PENN) Reiterated Outperform at Credit Suisse.
Salesforce.com (NYSE: CRM) Raised to Outperform at FBR.
Seaspan Corp. (NYSE: SSW) Cut to Underperform at BofA/ML.

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: A, AAPL, AMSG, BBBY, BUD, CMRE, CRM, DAC, FTE, GLW, NU, PENN, SSW

Introducing the Smartphone ETF (FONE, A, ALU, ALTR, AAPL, ARMH, T, ATML, BRCM, CIEN, FLEX, GOOG, MRVL, MU, NOK, QCOM, RIMM, TLAB, VOD, XLNX)

Administrator — Fri, 18 Feb 2011 14:40:38 +0000

They say there is an ETF for everything. Now comes the launch by First Trust Advisors L.P. for a Smartphone ETF. The First Trust NASDAQ CEA Smartphone Index Fund (NASDAQ: FONE) offers investors a way to gain exposure to the various hardware manufacturers, operating system providers, chip makers, software manufacturers and service providers.

The Fund is meant to track an equity index called the NASDAQ OMX CEA Smartphone Index. Here are some of the components:

Agilent Technologies Inc. (NYSE: A);
Alcatel-Lucent SA (NYSE: ALU);
Altera Corporation (NASDAQ: ALTR);
Amdocs Ltd (NYSE: DOX);
American Tower Corp. (NYSE: AMT);
Analog Devices Inc. (NYSE: ADI);
Apple Inc. (NASDAQ: AAPL);
Arm Holdings plc (NASDAQ: ARMH);
AT&T Inc. (NYSE: T);
Atmel Corp. (NASDAQ: ATML);
AVAGO TECHNOLOGIES (NASDAQ: AVGO);
Benchmark Electronics Inc. (NYSE: BHE);
Broadcom Corporation (NASDAQ: BRCM);
BYD Co. Ltd.;
Celestica Inc. (NYSE: CLS);
China Mobile Ltd.;
China Unicom (Hong Kong) Ltd.;
CIENA Corporation (NASDAQ: CIEN);
Compal Communications Inc.;
Crown Castle Intl Corporation (NYSE: CCI);
CTS Corp. (NYSE: CTS);
Deutsche Telekom;
Elpida Memory;
L.N. Ericsson (NASDAQ: ERIC);
Flextronics International Ltd. (NASDAQ: FLEX);
Foxconn International Holdings Ltd.;
France Telecom SA;
Gemalto NV;
Google Inc. (NASDAQ: GOOG);
HTC Corporation;
Infineon Technologies AG;
Inventec Corp.;
KDDI Corp.;
KT Corp.;
Kyocera Corp.;
LG Electronics Inc.;
LSI Corporation (NYSE: LSI);
Marvell Technology Group Ltd. (NASDAQ: MRVL);
MAXIM INTEGRATED (NASDAQ: MXIM);
Micron Technology Inc. (NASDAQ: MU);
Mobile TeleSystems OJSC (NYSE: MBT);
Motorola Solutions, Inc. (NYSE: MSI);
National Semiconductor (NYSE: NSM);
Nokia OYJ (NYSE: NOK);
NTT DOCOMO;
OmniVision Technologies Inc. (NASDAQ: OVTI);
On Semiconductor Corp. (NASDAQ: ONNN);
QUALCOMM Inc. (NASDAQ: QCOM);
Research in Motion Ltd. (NASDAQ: RIMM);
RF Micro Devices Inc. (NASDAQ: RFMD);
Samsung Electronics Co.;
Sanmina-SCI Corporation (NASDAQ: SANM);
SBA Communications Corp. (NASDAQ: SBAC);
Skyworks Solutions Inc. (NASDAQ: SWKS);
Softbank Corporation;
Sony Corp.;
Sprint Nextel Corporation (NYSE: S);
STMicroelectronics NV (NYSE: STM);
Synaptics Inc. (NASDAQ: SYNA);
Tekelec Inc. (NASDAQ: TKLC);
Telecom Italia SpA;
Telefonica SA;
Tellabs Inc. (NASDAQ: TLAB);
Texas Instruments Inc. (NYSE: TXN);
Toshiba Corporation;
Triquint Semiconductor TQNT;
Verizon Communications Inc. (NYSE: VZ);
Vishay Intertechnology Inc. (NYSE: VSH);
Vivendi SA;
Vodafone Group plc (NYSE: VOD);
Wistron Corp.;
Xilinx Inc. (NASDAQ: XLNX);
ZTE Corp.;

The index value here only started this month and there is a small chart here to show its performance.

JON C. OGG

Filed under: ADR, Consumer Electronics, ETF, IPOs, Semiconductor, Software, Technology Companies, Telecom, WiMAX, Wireless Tagged: A, AAPL, ALTR, ALU, ARMH, ATML, BRCM, CIEN, FLEX, FONE, GOOG, MRVL, MU, NOK, QCOM, RIMM, T, TLAB, VOD, XLNX

Top Analyst Upgrades and Downgrades (AAPL, BBY, A, BBT, BRCM, COH, FSLR, GPS, HBAN, JBHT, JCI, KR, LULU, SWY, STI, TIF, TROW, WFMI)

Administrator — Wed, 15 Dec 2010 13:22:03 +0000

These are some of this Wednesday’s key analyst upgrades, downgrades, and initiations seen in Wall Street research calls. This morning we have two key updates from late yesterday afternoon, followed by our normal morning calls.

Apple Inc. (NASDAQ: AAPL) Maintained Outperform but removed from “Best Idea List” at Morgan Stanley (late-Tuesday call).

Best Buy Co. (NYSE: BBY) Raised to Buy at Standpoint Research on weakness; Cut to Hold at S&P Equity Research (BOTH calls are from late-Tuesday). This morning Best Buy Co. (NYSE: BBY) was Cut to Perform at Oppenheimer.

Agilent Technologies Inc. (NYSE: A) Raised to Overweight at JPMorgan.
BB&T Corporation (NYSE: BBT) Cut to Neutral at Janney.
Broadcom Corporation (NASDAQ: BRCM) Reiterated Buy and $55 target.
Coach Inc. (NYSE: COH) Started as Outperform at Credit Suisse.
First Solar, Inc. (NASDAQ: FSLR) Raised to Hold at Needham; Reiterated Buy with $167 target at Auriga.
Gap Inc. (NYSE: GPS) Started as Outperform at Credit Suisse.
Huntington Bancshares Inc. (NASDAQ: HBAN) Started as Neutral at BofA/ML.
JB Hunt Transport Services Inc. (NASDAQ: JBHT) Cut to Hold at Stifel Nicolaus.
Johnson Controls Inc. (NYSE: JCI) Started as Buy at Stifel Nicolaus.
The Kroger Company (NYSE: KR) Started as Buy at Goldman Sachs.
Lululemon Athletica Inc. (NASDAQ: LULU) Started as Outperform at Credit Suisse.
Safeway Inc. (NYSE: SWY) Started as Buy at Goldman Sachs.
SunTrust Banks, Inc. (NYSE: STI) Cut to Sell at Janney.
Tiffany & Co. (NYSE: TIF) Started as Outperform at Credit Suisse.
T. Rowe Price Group, Inc. (NASDAQ: TROW) Added to Conviction Buy List at Goldman Sachs.
Whole Foods Market, Inc. (NASDAQ: WFMI) Started as Buy with $55 target at BofA/ML; Started as Neutral at Goldman Sachs.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: A, AAPL, BBT, BBY, BRCM, COH, FSLR, GPS, HBAN, JBHT, JCI, KR, LULU, STI, SWY, TIF, TROW, WFMI

Top Analyst Upgrades and Downgrades (A, MT, AUO, CMCSA, COP, K, KFT, LDK, NVO, PLD, RIMM, STX, STRA)

Administrator — Thu, 28 Oct 2010 12:17:25 +0000

These are some of this Thursday’s key analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

Agilent Technologies, Inc. (NYSE: A) Raised to Buy at Stifel Nicolaus.
ArcelorMittal (NYSE: MT) Cut to Neutral at Goldman Sachs.
AU Optronics (NYSE: AUO) Cut to Neutral at Credit Suisse.
Comcast Corporation (NASDAQ: CMCSA) Raised to Buy at Kaufman Bros.
ConocoPhillips (NYSE: COP) Cut to Neutral at Macquarie.
Kellogg Inc. (NYSE: K) Started as Market Perform at Wells Fargo.
Kraft Foods Inc. (NYSE: KFT) Started as Outperform at Wells Fargo.
LDK Solar Co., Ltd. (NYSE: LDK) Raised to Buy at Needham.
Novo Nordisk (NYSE: NVO) Raised to Overweight at JPMorgan.
ProLogis (NYSE: PLD) Cut to Market Perform at Wells Fargo.
Research in Motion Ltd. (NASDAQ: RIMM) Cut to Perform at Oppenheimer.
Seagate Technology PLC (NASDAQ: STX) Cut to Hold at Stifel Nicolaus.
Strayer Education, Inc. (NASDAQ: STRA) Cut to Neutral at Baird.

JON C. OGG

Filed under: Analyst Calls Tagged: A, AUO, CMCSA, COP, K, KFT, LDK, MT, NVO, PLD, RIMM, STRA, STX

Is the Avago IPO For You? (AVGO, HPQ, A)

247wallst — Thu, 06 Aug 2009 14:28:25 +0000

Avago Technologies Ltd. (NASDAQ: AVGO) is today’s IPO. The deal priced 43.2 million shares at $15.00 per share to raise approximately $621 million. This was at the high end of the indicated price range, and this was also increased in shares from the 41.4 million shares filed in yesterday’s amendment from the 36 million shares originally indicated for sale. Avago is a KKR and Silver Lake backed leveraged buyout of the former Hewlett Packard (NYSE: HPQ) analog semiconductor business that became part of Agilent Technologies Inc. (NYSE: A). Is it for you?

Of the offering, 21.5 million ordinary shares are being sold by the company to raise cash for its internal operations and 21.7 million ordinary shares are being sold by holders. Technically, this is the second largest IPO of 2009, and its implied market cap is north of $3.5 billion. It is also based in Singapore and claims to be the world’s largest private semiconductor company and is the seventh largest fabless semiconductor company.

The deal was underwritten by lead managers Deutsche Bank, Barclays Capital, Morgan Stanley, and Citi. Co-managers are listed as Credit Suisse, Goldman Sachs, J.P. Morgan, UBS, KKR, and ABN AMRO.

Its Q2 results are public data, and showed quarterly revenue fell by 20.9% to $325 million. Its adjusted EBITDA of $40 million was down from $85 million in the same period a year ago; its net loss was $31 million, compared with net income of $6 million last quarter. On a non-GAAP basis the company posted a $2 million loss, down from a gain of $37 million a year ago.Cash and cash equivalents was $241 million, again from $195 million at end of prior quarter.

Avago announced further job cuts of up to 200 employees back in May and noted that it has cut approximately 475 workers (13%) through attrition and restructuring. The company claims roughly 6,500 products in four primary target markets: wireless communications, wired infrastructure, industrial and automotive electronics, and consumer and computing peripherals.

JON C. OGG
August 6, 2009

Posted in IPOs, Private Equity, Semiconductor Tagged: A, AVGO, HPQ

Agilent-Varian, Partly Transformational Move (A, VARI)

247wallst — Mon, 27 Jul 2009 13:32:15 +0000

Agilent Technologies Inc. (NYSE: A) is making what seem an unusual acquisition. It is acquiring Varian, Inc. (NASDAQ: VARI) after signing a definitive agreement for the acquisition. Agilent will pay roughly a 35% premium of $52.00 per share in cash for Varian’s outstanding stock, which comes to a price tag of roughly $1.5 billion. Both Agilent’s and Varian’s Board of Directors have unanimously approved the acquisition.

This may seem a strange acquisition on the surface when you consider Agilent’s history. Agilent provides bio-analytical and electronic measurement solutions to the communications, electronics, life sciences, and chemical analysis industries. But in its history most have thought of it in the communications and electronics sectors. Varian is supplier of scientific instrumentation and associated consumables for life science and applied market applications. This acquisition will broaden Agilent’s offerings in life sciences, environmental, and energy and materials. Specifically, this merger will expand Agilent’s product portfolio into atomic and molecular spectroscopy, establishes a leading position in NMR, imaging and vacuum technologies, and strengthens its consumables portfolio.

But this is also, according to CEO Bill Sullivan, “…a major step in Agilent’s transformation into a leading bio-analytical measurement company… While we continue to be a world leader in electronic measurement, our biggest opportunities for future growth are in bio-analytical measurement.” The company also believes this merger will make Agilent into a market leader in analytical solutions. The transaction is expected to generate $75 million in annual cost synergies and achieve Agilent’s 20% return on invested capital target within four to five years.

The transaction is subject to approval by the shareholders of Varian and will be completed after achieving customary closing conditions and regulatory approvals, which Agilent expects before calendar year-end. The transaction is not subject to any financing conditions.

It is not hard to see how Agilent and Varian came up with a price that is certain to receive shareholder approval. Varian’s $52.00 price tag compares to a $39.20 close, and its 52-week trading range was $19.83 to $51.98.

Varian generated $1.01 billion in its fiscal 2008 sales and we have analysts looking for more than $850 million in sales this year. Without the consideration of this merger, we have analysts looking for $4.36 billion in sales this year. Agilent had 2008 sales of $5.774 billion. So while the revenue diversification is coming, this will add less than one-fifth in new revenues on a trailing basis and on an expected basis.

Agilent shares are down nearly 3% at $21.64 in early trading on the announcement. Its 52-week range is $12.02 to $37.25 and its market cap as of Friday’s close was $7.65 billion. Varian shares are up 29% at $50.70.

Jon C. Ogg
July 27, 2009

Posted in Mergers and Buy Outs Tagged: A, VARI