Zacks Analyst Blog Highlights: Mack-Cali Realty Corp., Somaxon Pharmaceuticals, Inc., Syngenta AG, TOTAL and Phoenix Companies

CHICAGO--(BUSINESS WIRE)--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: Mack-Cali Realty Corp. (NYSE: CLI), Somaxon Pharmaceuticals, Inc. (Nasdaq: SOMX), Syngenta AG (NYSE: SYT), TOTAL S.A. (NYSE: TOT) and The Phoenix Companies, Inc. (NYSE: PNX).

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Here are highlights from Wednesday’s Analyst Blog:

Mack-Cali Realty Remains a Sell

Mack-Cali Realty Corporation (NYSE: CLI) is a fully integrated, self-administered, and self-managed office real estate investment trust (REIT). The company owns, operates leases, manages, and develops Class A office and industrial/flex properties, primarily in suburban markets in the northeastern US.

CLI reported 3Q08 FFO [funds from operations] of $1.02 per share compared to $0.93 in 3Q07. The increase was due to lower expenses and share counts. Operations held up relatively well in the 3rd quarter, although we have cut our 2009 FFO estimates by 6% due to macroeconomic conditions.

Somaxon Likely Headed Below $1

Somaxon Pharmaceuticals, Inc. (Nasdaq: SOMX) filed the new drug application (NDA) for insomnia drug Silenor in late January 2008. The FDA accepted the application in April 2008, but recently extended the PDUFA action date until February 28, 2009 (it was December 1, 2008).

Although our expectations for approval have not changed, the delay of a decision by the FDA puts Somaxon in a tough situation. Somaxon is currently in discussion with several interested parties for commercialization of the drug. Management is looking for a co-promotion agreement in the U.S. However, we do not believe a deal will be reached until after the FDA's decision. And, now with another three months to wait, cash burn is becoming a concern.

Syngenta a Global Agri-Biz Play

Syngenta AG (NYSE: SYT) is a global provider of agribusiness products and solutions. The company's major products include herbicides, insecticides and fungicides, and field crop, vegetable and flower seeds.

We remain buyers of Syngenta after the company's third quarter results. Sales for the third quarter 2008 increased 12% to $2.8 billion at constant exchange rates (CER) were 6% higher reflecting the relative weakness of the US dollar.

TOTAL the Complete Package

France-based TOTAL S.A. (NYSE: TOT), previously known as TOTAL Fina Elf S.A., is among the top five publicly traded global integrated oil and gas companies based on production volumes, proved reserves, and market capitalization. The company's operations can be divided into upstream (exploration and production), downstream (refining and marketing) and chemical businesses.

We maintain our Buy rating on TOTAL ADRs after the company reported first quarter results. We continue to like the company for its positive production-growth profile, attractive returns and an improving outlook for the refining and chemical businesses. We also like the company's active share buyback program and the recent increases in the dividend.

Phoenix Cos Looking to Rise

The Phoenix Companies, Inc. (NYSE: PNX), which de-mutualized and went public in 2001, provides a diverse array of life insurance and wealth management products and services to affluent and high net-worth individuals and corporations across the U.S.

3Q08 operating results substantially missed expectations and came in at loss of $2.78 per share, versus a profit of $0.29 per share in the year-ago quarter. Excluding the $2.91 per share non-cash impairment charge related to goodwill and other intangibles in the Asset Management segment, results still missed expectations to come in at $0.13 per share.

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