RSS Updates
Email UpdatesMicron Technology (MU) is very close to a new 52-week low with shares trading at around $11.66 following a downgrade and a disappointing earnings call. Goldman Sachs changed their position to “sell” from “neutral” today.
Micron’s conference call reported lackluster earnings then gave some warm-fuzzy news about how they believe the memory card business is stabilizing. However, Goldman Sachs said Micron’s outlook is far too optimistic. So who do you believe, Micron or the analysts?
MU lost $52M, or 7 cents a share, in the three months ended March 1, compared to a year-ago profit of $193M, or 27 cents a share. Revenue did rise $1.43B which is up 16% from the $1.2B generated a year ago.
So with shares trading near the 52-week low, why not take the chance and assume Micron Executives are not full of it and pick up a few shares?
Citigroup analyst Glen Yeung lifted his target price target on Micron shares to $17 from $15.50. Yeung said that there is evidence that DRAM pricing has gone up slightly in recent weeks, as customers have begun using up their past product inventories, and that prices should remain stable in the second half of the year. 1-2-shabadoo people? Or 1-2-shabadon’t? We vote shabadoo!! 
Daily Archives: April 5, 2007
Market Comments From TheStockMasters 4/5/2007
ROK: Rockwell Shares Well Rocked by CFO Departure
By William Trent, CFA of Stock Market Beat
ITRI: Reading Itron’s Meter
By William Trent, CFA of Stock Market Beat
Historical Sector P/E Ratios
From Ticker Sense
Dividend Lover’s Delight
From Ticker Sense
Tenet Healthcare: Settled With The SEC
From AAO Weblog
Thursday’s Top Biotech & Medical Stocks
by H.S. Ayoub
BioHealth Investor.com
Biotechnology
GENETIC TECH SPON [GENE] +48.22%
DENDREON CORP [DNDN] +19.69%
CORCEPT THERAPEUTICS [CORT] +15.70%
ANTIGENICS INC [AGEN] +14.83%
REXAHN PHARMACEUTICL [RXHN.OB] +14.29%
Diagnostic Substances
BIOSITE INC [BSTE] +10.45%
HEALTHCARE TECH LTD [HCTL] +9.46%
IMMUCOR INC [BLUD] +9.15%
SYNOVICS PHARMACEUTL [SYVC.OB] +8.00%
RG GLBL LIFESTYLS [RGBL.OB] +7.01%
Drug Delivery
COLUMBIA LABS INC [CBRX] +7.19%
PENWEST PHARM CO [PPCO] +3.26%
FLAMEL TECH SA ADR [FLML] +2.57%
EMISPHERE TECH [EMIS] +2.57%
MATRIXX INITIATVS [MTXX] +2.50%
Drug Manufacturers
PHARMACYCLICS INC [PCYC] +14.71%
NITROMED, INC. [NTMD] +12.89%
NEUROCHEM INC [NRMX] +10.04%
ALTAIR NANOTECH INC [ALTI] +6.35%
WARNER CHILCOTT LTD [WCRX] +6.06%
Drug Related Products
XELR8 HOLDINGS, INC [BZI] +6.06%
LABOPHARM INC. [DDSS] +5.24%
AUXILIUM PHARMACEUT [AUXL] +3.48%
NATROL INC [NTOL] +3.00%
USANA HEALTH SCIEN [USNA] +2.03%
Generic Drugs
ISOLAGEN INC [ILE] +8.92%
LOTUS PHARMACEUTICAL [LTUS.OB] +6.45%
WATSON PHARMACEUTCLS [WPI] +0.72%
HI-TECH PHARMACAL [HITK] +0.64%
BARR PHARMA INC [BRL] +0.56%
Medical Appliances & Equipment
SYNERGETICS USA INC [SURG] +11.52%
SPECTRASCIENCE NEW [SCIE.OB] +8.33%
POSSIS MEDICAL INC [POSS] +6.82%
VISION SCIENCES IN [VSCI] +4.55%
CONSORTIUM SVC MGT [CTUM.OB] +3.96%
Medical Instruments & Supplies
IMMUNOCELLULAR THERA [IMUC.OB] +37.25%
OCULUS INNOVATIVE SC [OCLS] +5.57%
ENCISION INC [ECI] +3.96%
CARDICA, INC. [CRDC] +3.71%
VASCULAR SOLUTIONS [VASC] +3.63%
Medical Laboratories & Research
MEDASORB TECHNOLOGS [MSBT.OB] +21.74%
ALLIANCE IMAGING INC [AIQ] +4.30%
ENZO BIOCHEM INC [ENZ] +1.81%
AETERNA ZENTARIS [AEZS] +1.52%
ARRAY BIOPHARMA IN [ARRY] +1.10%
StreetInsider.com After-Hours Movers 04/05
Daktronics, Inc. (Nasdaq: DAKT) 17.8% LOWER; now estimates that net sales for the fourth quarter of fiscal 2007 will be in the range of $101 million to $105 million, with earnings in the range of $0.06 to $0.10 per share. Previously, the Company estimated that its fiscal fourth quarter net sales would be in the range of $106 million to $118 million and that its earnings per share would be in the range of $0.12 to $0.19 per share.
Carrier Access Corporation (Nasdaq: CACS) 13.4% LOWER; said Q1 revenue is expected to range from $8.3 million to $8.7 million. Basic and diluted GAAP loss per share for the quarter is expected to range from $(0.32) to $(0.27). Basic and diluted non-GAAP loss per share for the quarter is expected to range from $(0.29) to $(0.24). The consensus is revenue of $14.1 million and loss of $0.21.
ARIAD Pharmaceuticals, Inc. (Nasdaq: ARIA) 12% LOWER; received feedback from the FDA regarding its Special Protocol Assessment on the design and endpoints for its Phase 3 pivotal trial of oral AP23573, its novel mTOR inhibitor, in metastatic sarcoma. Based on the FDA’s response, the Company intends to pursue its Phase 3 trial in the same treatment setting as originally proposed (patients with metastatic sarcoma following a favorable response to chemotherapy), with overall survival as the primary endpoint and progression-free survival as a key secondary endpoint. As a result, the Company anticipates that initiation of patient enrollment may be delayed from the second to the third quarter of 2007.
WD-40 Co. (Nasdaq: WDFC) 7.6% HIGHER; reports Q2 EPS of $0.52, 6 cents better than estimate. Revenues came in at $79.3 million versus the consensus of $78.32 million. Reaffirms 2007 forecast. Sees 2007 sales of $307-$324 million, versus the consensus of $313.14 million. Sees 2007 EPS of $1.70-$1.85 versus the consensus of $1.75. The company also announced a $35 share buyback.
Spartan Motors Inc. (Nasdaq: SPAR) 3% HIGHER; Cramer highlights on Mad Money
Oliver Press Partners Gets Its webMethods (WEBM) Wish Granted… Quickly
From 13D Tracker
In an 13D filing after the close on webMethods Inc. (Nasdaq: WEBM), 6% shareholder Oliver Press Partners, LLC said it may seek to have the Company "pursue an extraordinary transaction such as a sale or a merger." Oliver’s wish was answered quickly as webMethods announced this morning that Software AG will acquire the company for $9.15 per share or approximately $546 million — a healthy premium to yesterday’s $7.28 close.
The firm paid on average about $7 per share for its stake.
WCI Recommends Holders Reject Icahn’s Offer
From 13D Tracker
WCI Communities’ (NYSE: WCI) announced that its Board of Directors has unanimously concluded that the unsolicited tender offer by entities controlled by Carl Icahn to purchase any and all outstanding shares of WCI’s common stock is highly conditional, opportunistic and inadequate from a financial point of view to the Company’s shareholders. The Board unanimously recommends that shareholders not tender their shares pursuant to the tender offer.
Carl Icahn’s offer for WCI Communities was $22 per share.
This Week on StockHouse April 2 to 5
Markets on both sides of the border moved sharply higher in the holiday-shortened week.
NEM – Newmont Mining Corp: Linked to the Price of Gold and Milk
By CrossProfit
04/05/2007
Gold seems to go up with the price of oil. Some say that as paper currencies inherently devalue over time, the only true currency that maintains value over time is gold. Gold is not really a currency in the true sense of the word. Gold is a commodity or asset like oil and real estate.
52-Week Low Club (APR 5, 2007)
Rackable Systems (RACK) $14.22 (-15.6%); prior low had been $15.96; here’s what happens to high-flying flameouts.
Opnext (OPXT) $12.35 (-5.7%); prior low was $12.83; recent IPO that some shareholders wish they hadn’t bought.
SAIC Inc. (SAI) $16.92 (-4%); Morgan Stanley downgrade can be attributed today.
Wireless Facilities (WFII) $1.16 (-3.3%); $1.20 was prior low and $4.53 was high; maybe not all engineering firms do well in teh sector.
Proliance (PLI) $3.60 (-1.4%); prior low was $3.63.
Building Materials (BLG) $17.42 (-1.6%); prior low was $17.55 and high was $38.67; residential construction services and building products, need we say more…
M I Homes (MHO) $25.81 (-0.55%); $25.90 was prior low; homebuilding, yummy.
Jon C. Ogg
April 5, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
Entrenched Corporate Leader: Eddie Lampert (SHLD)
Could You imagine Sears (SHLD-NASDAQ) without Eddie Lampert? Last week we noted that one of Jim Cramer’s "CEO’s Who Get the Benefit of the Doubt" was also one of our most entrenched CEO’s. Eddie Lampert is that person, although he is technically the Chairman of the Board. He is the one credited with getting this back to where it is. Sure, it’s by team effort; but go ask anyone who they think is really responsible bringing back Sears & K-Mart. It’s Lampert.
In reality, Eddie Lampert is a true mystery to many "retail analysts" on Wall Street because they are having to evaluate a retail company that is now worth $28 Billion since the combination of Sears and K-Mart that is not merely a large retailer. In fact, the retail efforts have recently been mixed instead of the turnarounds seen in prior quarters. The wildcard for just analyzing this as a retailer is that this is still a large real estate holder that is deemed as undervalued on the books versus what the remaining dirt might really fetch in a true sale lease-back, and when you culminate the real estate with the point that this is really a hidden hedge fund it is mystifying.
As long as Eddie Lampert doesn’t start to AND then continue to consistently make costly errors quarter after quarter, no one is going to say anything. Even if they did, they don’t have the votes or shares to influence a change. Shareholders have been so rewarded that any major hit to the stock might just make investors think there is a shot to go back in. As long as investors feel like he is potentially the next Warren Buffett, he is virtually immune from any criticism or efforts against him.
With the potentiality that he has been mentioned (via rumors and occasional holdings) as potentially rolling up numerous other retail related efforts, and seeing those stocks rise, he is well-heeled there AND wherever else he wants to go. Much more money has been made investing with Eddie Lampert than against him.
Jon C. Ogg
April 5, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
Cramer on Chrysler, Plus Crocs Vs. Under Armour
On today’s STOP TRADING segment on CNBC, Cramer noted how funny the letter from Tracinda to DaimlerChrysler was but he thinks the offer is actually serious. Despite the fact that the Chrysler unit would be stolen, Cramer thinks DCX is going to $90.00. As far as Ford’s (F) Mulally getting $28 million, he is worth it despite the pay criticism. On Crocs (CROX), Cramer thinks the short selling is out of control on it and he thinks it is a trend rather than a fad. He also likes Under Armour (UA).
Jon C. Ogg
April 5, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
Toyota Chases GM In China
China is GM’s (GM) crown jewel. Sales there increased 25% in Q1 to almost 292,000. The big car company and its joint venture partners are the No.1 seller of vehicles in the market.
But, Toyota (TM) hates to be out-done. During the sames quarter, its sales rose 66% to 103,000. The Chinese seem to like the Camry.
Because the Camry is doing so well in China, GM has some cause to worry. At its current growth rate, Toyota could be at 50% of GM’s unit sales in two years.
Looks a lot like the US market.
Douglas A. McIntyre
50 Most Active ETFs Overbought/Oversold
From Ticker Sense
Below we have run the 50 most active ETFs through our overbought/oversold program (a key to reading the charts is included). The trading range for each ETF is one standard deviation above or below its 50-day moving average. An ETF (or stock, index, bond, etc.) becomes overbought when it trades more than one standard deviation above its 50-day moving average and vice versa for oversold.
CMGI Bolster’s Management
CMGI (CMGI-NASDAQ) has named a new CFO after the position has been essentially vacant. What is important about this addition is that it isn’t just "filling the position." It looks like a great hire for the company.
CMGI hired away the Interactive Data Corp’s (IDC-NYSE) Steven Crane, president of the Pricing & Reference Data business. He is also the former CFO of Interactive Data. If you have followed Interactive Data, you will know that Mr. Crane got to oversee and help on the financial integration of acquisitions and transitions. He will be responsible for the ModusLink financial management oversight as well.
The stock of CMGI has been in an ongoing turnaround and is one of the more talked about names out there, even if it is more than 10% off of its recent highs. What is very smart about this hire of Crane is that he is actually a known commodity on Wall Street because IDC supplies financial market data (quotes, news, research, analytics) to investment firms and market professionals. What is the best way to continue getting Wall Street support? Bring in someone that is friendly to Wall Street, of course.
CMGI is down about 1% at $2.17 after today’s open, but this addition is a win for the company.
Jon C. Ogg
April 5, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
Goldman Sachs Research Summary (APR 5, 2007)
Stock Tickers: MU, RIMM, YHOO, MCHP, MRVL, CLMS, BEN, BOW, JNS, LM, HBAN, GILD, OSIP, BIIB, MEDI, JNC, CNS, FII, GBL, AB, BLK
This is one of the last research summaries that Goldman Sachs will be issuing before the earnings deluge comes.
The first and foremost call was a Downgrade on Micron (MU) to a Sell from a neutral. MU is still up pre-market after wider losses, but it was up much more last night. It sees 17% downside to the stock.
Nintendo Guidance Shows More Muscle
Nintendo raised its guidance again for the year ended March 31. It won’t post the actual results until the end of April, but its Wii and DS systems have been hits for the company. It mostly attributed the DS handheld system for the success. The sales are being estimated now at 966 Billion Yen (US$8.1 Billion) compared to previous forecasts of 900 Billion Yen and estimates of 930 Billion Yen. Back in January it already forecast that profits would be a record.
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Today’s top tickerspy Indexes Home Furnishing R... +14.1% Ethanol and Biofu... +5.1% Electronics Retai... +2.1% Diabetes Stocks +2.0% Memory Chip Stock... +2.0% 
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