For Immediate Release
Chicago, IL – April 27, 2012 – 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 Watson Pharmaceuticals
Inc. ( WPI), Honeywell International
Inc. ( HON), BorgWarner Inc. ( BWA),
United Technologies Corp. ( UTX) and
Johnson Controls Inc. ( JCI).
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Here are highlights from Thursday’s Analyst
Blog:
Watson Nears Heavyweight Status
Watson Pharmaceuticals Inc. ( WPI) recently
announced its plans to acquire Iceland-based Actavis Group for an
upfront payment of €4.25 billion.
As part of the acquisition agreement, Actavis shareholders can
receive up to 5.5 million shares of Watson Pharma in 2013, on the
achievement of certain pre-negotiated performance targets in 2012.
The companies expect the transaction to close in the fourth quarter
of 2012.
We note that this acquisition will make Watson Pharma the third
largest global generics company. Additionally, the takeover will
more than double the company’s commercial position in key European
markets as well as emerging markets, including Central and Eastern
Europe and Russia.
Actavis currently markets 1,000 products in more than 40
countries worldwide. Moreover, the company has about 300 projects
in its pipeline and recorded revenues of $2.5 billion in 2011.
Watson Pharma anticipates to record pro-forma revenue of about
$8 billion in 2012. Additionally, the company expects the
transaction to be immediately accretive to non-GAAP earnings before
synergies. More than $300 million of annual synergies is expected
to be achieved within three years after the closure of the deal.
The synergies will be mostly cost synergies consisting of selling,
general and administrative (SG&A) and research and development
(R&D) expenses and corporate costs.
This acquisition will help increase Watson Pharma’s
international markets generic revenues to 40% from 16% recorded at
the end of 2011. Further, the combined company will have 45
first-to-files and 30 marketing exclusivities in the US.
Just four months into 2012, Watson Pharma has already announced
two acquisitions. In January, the company announced the acquisition
of Australia-based Ascent Pharmahealth Ltd. for AU$375 million
(about US$393 million) in cash. Ascent Pharmahealth is the
Australian and Southeast Asian generic pharmaceutical wing of
Strides Arcolab Ltd. The transaction, which was signed and closed
immediately, is expected to be accretive to 2012 non-GAAP
earnings.
Honeywell’s Chinese Contract
Honeywell International Inc.’s ( HON) group
company, UOPLLC, will help China's Shandong Chambroad
Petrochemicals Co. to produce key petrochemicals through its UOP C3
and C4 Oleflex™ processes. This is the first plant in China which
combines the two processes to produce propylene, and second in the
world to produce isobutylene.
In 2014, the new unit is expected to start production. The units
will produce 133,000 metric tons of propylene and 87,000 metric
tons of isobutylene annually. The production facility is located in
Binzhou City, Shandong Province, China.
Propylene is the main ingredient for producing films and
packaging and isobutylene is for fuels and synthetic rubber.
Engineering design, technology licensing, catalysts, adsorbents,
equipment, staff training and technical service will be provided by
Honeywell's UOP.
More than 15% of worldwide demand for propylene is from China
and the company expects it to rise by 5% to 6% in 2012.
For further expansion, the company is focused on growth factors
such as investments in new products, technology demarcation,
expansion in the emerging markets and initiatives in key processes.
Honeywell’s short-cycle businesses, as well as its commercial
aerospace spares and residential and commercial retrofit
businesses, are performing impressively well and are expected to
support the company’s future growth outlook.
However, a change in the U.S. government’s defense and aerospace
funding could adversely impact sales of Aerospace’s defense and
space-related products and services.
Based in Morris Township, N.J., Honeywell International Inc. is
a Fortune 100 company providing technical and manufacturing support
to customers worldwide with aerospace products and services;
control technologies for buildings, homes and industry; automotive
products; turbochargers; and specialty materials. The major
competitors of Honeywell are BorgWarner Inc. (
BWA), United Technologies Corp. ( UTX) and
Johnson Controls Inc. ( JCI).
We currently maintain our Outperform rating on Honeywell,
corresponding with a Zacks #1 Rank (Strong Buy recommendation) over
the next one-to-three months.
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BORG WARNER INC (BWA): Free Stock Analysis Report
HONEYWELL INTL (HON): Free Stock Analysis Report
JOHNSON CONTROL (JCI): Free Stock Analysis Report
UTD TECHS CORP (UTX): Free Stock Analysis Report
WATSON PHARMA (WPI): Free Stock Analysis Report
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