Daily Archives: November 6, 2007

Cramer’s Alternative Energy & Green Stocks (SGR, FWLT, BWA, OMG, FSLR, FTEK, WFR, TTEK, ZOLT, BP, SPWR, CY, CPST, ITRI)

On tonights MAD MONEY on CNBC, Jim Cramer wanted to pitch in on covering the green-tech stocks.  He says he has no politics on his calls because he is just looking at these as opportunities to make money.  Cramer’s green stocks are up 68% on average since he covered that Massachusetts ruling back in April.  His stocks from back then and here are his reviews now:

  • Shaw (SGR) up from $30 by 146% in nuke power infrastructure he thinks it can still double.
  • Foster Wheeler (FWLT) up 99% and being driven by non-green demand, it’s still a favorite but for another reason.
  • Borg Warner (BWA) is up 38% and still has legs in cleaner engine parts, Cramer thinks it goes higher.
  • OM Group (OMG) is actually down on refining cobalt and he said he’d have given up if last quarter wasn’t good.
  • First Solar (FSLR) was up big today on a $1 Billion contract.  Its up 170% since his recommendation and he thinks it can go higher with analysts racing each other to raise targets.  It reports Wednesday but he says it is expensive and he’s look at it speculatively.
  • Fuel-Tech (FTEK) is one that Cramer would rather sell than OM Group.
  • MEMC (WFR) is an arms merchant for solar makers in making wafers for solar panels; too good to pass it up; it’s cheap and he thinks out of all green stocks that this one is still bargain.  MEMC is his TOP PICK in the alt-en sector.
  • Tetra Tech (TTEK) is his play on the water group and he likes the last buyout with an international footprint.

He doesn’t see a single one where he thinks the run is over.  In a call-in he was also positive on Zoltek (ZOLT).  As far as BP’s (BP) initiatives in a call-in, he thinks it is an after-thought and right now it doesn’t add up right.  SunPower (SPWR) in a last call-in is one that he’s been behind and he thinks Cypress Semi (CY) is the play off it.

Another alternative energy stock an analyst said could double is Capstone Turbine (CPST) today in an unrelated report.  That was Lazard, and its analyst also defended Itron (ITRI) on recent weakness.

Jon C. Ogg
November 6, 2007

Posted on: November 6, 2007 – 6:26 pm in Alternative Energy, Cramer, , , , , , , , , , , , , , , ,

GM (GM) Takes A $39 Billion Write-Down

GM (GM) will take a $39 billion write-down for Q3 earnings.

According to The Wall Street Journal "the move is triggered as the company expects to lose money on an adjusted basis during the three-year period starting in 2005 and ending in 2007, meaning it has to make the adjustment in order to be in compliance with federal accounting rules."

The company’s stock is off 2.2% after hours.

Douglas A. McIntyre

Posted on: November 6, 2007 – 5:53 pm in Earnings Warning,

US Government Expects Oil Price To Stay High

The Energy Information Adminstration branch of the US government released its forecast for the rest of this year and next. The analysis shows that high oil prices are expected to continue.

Among the observations in the report:

Global oil markets will likely remain stretched, as world oil demand has continued to grow much faster than oil supply outside of the Organization of the Petroleum Exporting Countries (OPEC), putting pressure on OPEC and inventories to bridge the gap.  Additional fundamental factors contributing to price volatility include ongoing geopolitical risks, OECD inventory tightness, and worldwide refining bottlenecks.

This situation has resulted in West Texas Intermediate (WTI) crude oil prices staying well over $80 per barrel for most of October and even topping $90 per barrel towards the end of the month.   If oil producers increase output, as we have assumed, crude oil prices should ease somewhat.  Nevertheless, monthly average prices are expected to exceed $80 per barrel over the next several months and remain well above $70 per barrel throughout the forecast period.  Fourth quarter 2007 WTI prices are expected to average $87 per barrel.

Total U.S. petroleum consumption is expected to increase by 0.5 percent in 2007 and 1.0 percent in 2008, despite the higher oil and petroleum product prices.

World oil consumption in the fourth quarter is projected to be 1.8 million barrels per day (bbl/d) above fourth-quarter 2006 levels.  EIA projects that world oil consumption will increase by 1.5 million bbl/d in 2008,

The Outlook assumes that China, the United States, Russia, and Middle Eastern countries will continue to be the main drivers of increased global oil use.

Now, there’s something for your tax dollars.

Douglas A. McIntyre

Posted on: November 6, 2007 – 5:40 pm in Oil & Gas

NYSE Short Interest For October 31, 2007

Below is the short interest for major companies traded on the NYSE and changes from October 15, 2007 to the most current date, October 31, 2007.

Company                                           Shares Short               

Ford (F)                                             165.7 million shares short

Countrywide (CFC)                             106.9 million

Qwest (Q)                                           82.0 million

Time Warner (TWX)                             69.0 million

AMD (AMD)                                        67.1 million

Increase In Shares Sold Short

Company                                           Increase.

Countrywide                                       Up 27.1 million shares

LSI Logic (LSI)                                   Up 16.5 million

Applied Bio (ABI)                               Up 13.8 million

CItigroup (C)                                      Up 10.2 million

Mirant (MIR)                                      Up  9.9 million

Largest Decreases In Shares Sold Short

Company                                          Decrease In Shares Short

Marsh (MMC)                                    Down 16.4 million shares

Sprint (S)                                          Down 12.3 million shares

AMD                                                Down 8.8 million shares

Medtronic (MDT)                               Down 8.7 million shares

Sources: NYSE and WSJ

Douglas A. McIntyre

Posted on: November 6, 2007 – 5:24 pm in Short Interest, , , , , , , , , , , ,

Website Pros Shows Why Web.com Was Worth The Acquisition (WSPI)

Website Pros (NASDAQ:WSPI) posted quarterly results.  The company posted $17.8 million in revenues, $0.15 EPS non-GAAP, and $0.02 EPS on GAAP basis.  First Call had estimates at $17.77 million revenues and $0.13 non-GAAP EPS.

This was a tough quarter to analyze because of the ongoing integration issues in the recent Web.com (formerly Interland).  We noted this as part of the 24/7 Wall St. "Small Cap Internet Takeover List" with the first of two parts of companies under $1 Billion tied to the web that could be takeover candidates under the proper set of circumstances.

If you want to see how potentially powerful this buyout of Web.com (even if it was two-years too late) can be, look no further: On a stand-alone basis, Website Pros’ total net subscribers were approximately 82,000 at the end of the third quarter, up from approximately 80,700 at the end of the second quarter.  But including the customer adds from Web.com, the combined net subscribers was almost 255,000 at the end of the third quarter. 

Churn was mixed with 5.2% rate, down from 6.2% in Q3 2006 and up from 4.8% in the prior quarter.  With the much larger number of customer since the Web.com, it is the opinion of 24/7 Wall St. that the churn rate will rise.  Even with a higher churn rate the opportunities for the company to grow rapidly just went into overdrive.

Web.com, according to the company, continued revenue and subscriber growth driven by both direct marketing and partnerships.  Interestingly enough, the company said it will continue to identify growth prospects from both inside and outside the combined company.

Jon C. Ogg
November 6, 2007

Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: November 6, 2007 – 4:40 pm in Earnings, Internet, ,

Answers (ANSW) Disappoints

Wall St. expected Answers (ANSW) revenue to be up 21% to $2.25 million. The EPS loss was expected to be ($.13), worse than the ($.07) last year.

The results were a bit off. Revenues were $2,2 million in Q3 2007, an increase of 19% compared to the same period in 2006,

GAAP net loss in Q3 2007 was $1.950 million, an increase of $769 thousand compared to the same period in 2006. GAAP net loss per share in Q3 2007 was $0.25, compared to $0.15 in the same period in 2006.

The company expects revenue of about $3 million in Q4 and a GAAP loss of about $1 million.

Another big disappointment for Answers.

Douglas A. McIntyre

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Posted on: November 6, 2007 – 4:12 pm in Earnings,

The 52-Week Low Club

Orbitz Worldwide (OWW) No real news here. Maybe high oil prices could hurt travel. So far, the drop is odd. Down to $8.50 from 52-week high of $15.

US Airways (LCC) Bad traffic. High oil. Drops to $22.69 from 52-week high of $63.27.

Omnicare (OCR) Recent forecast was poor. Down to $25.31. But, no big news. The 52-week $44.87.

Momenta Pharmaceuticals (MNTA) Drug trial fails. Drops to $5.50 from 52-week high of $21.98.

Cognizant Technology (CTSH) Q4 forecast misses Wall St. estimates. Down to $31.15 from 52-week high of $47.78.

Douglas A. McIntyre

Posted on: November 6, 2007 – 4:02 pm in HI/LOW, , , , ,

Glaxo Avandia Sales Appear To Be Vanishing (GSK)

GlaxoSmithKline’s (NYSE:GSK) Avandia sales might not just weak after the reports of cardiovascular risks were reported.  If this research is accurate, the sales might be on the path to vanishing.  We have not conducted our own research into this and since we are finance geeks we probably won’t do much more digging.  But this is a near-disaster for a blockbuster drug (more than $1 Billion in annual sales) if the figures are accurate.

New research from TNS Healthcare’s DiabetesDynamics USA™ shows that from July through September of 2007 nearly 70% of changes in Avandia prescribing were the result of withdrawals—physicians switching patients to another therapy. In addition, the rate of withdrawals is accelerating, with as many withdrawals in third quarter ’07 alone as in the first and second quarters combined.

According to the data:  “Avandia prescribing has always been dynamic, with our research showing that, during the first half of 2007, 20% of physician consultations resulted in some kind of therapy change,” says Philip O’Hagan, International Client Services Director for TNS Healthcare. “From January through June, 84% of those prescribing changes were positive—physicians starting new patients on Avandia, adding it to existing regimens or switching patients to Avandia from other therapies. From July forward, however, we see a dramatic turnaround, with the majority of Avandia changes now coming from doctors taking patients off the drug.” 

DiabetesDynamics reveals that one of the main reasons physicians are switching patients from Avandia is reports that the drug is linked with increased cardiovascular risks. During the first half of 2007, there were no cases of switching due to cardiac problems, though there were the first rumblings that publicity about side effects was beginning to have an effect. During the third quarter of the year, however, there was a massive change, with cardiac problems now the reason for 20% of Avandia withdrawals.

If this is even remotely accurate, it sure sounds like Glaxosmithkline is feeling some heat. As per Glaxo’s site it says that the Avandia group of products £1,645 million (or $2.3 Billion in dollar terms using today’s currency exchange rates).

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Glaxo shares in teh U.S. are trading up almost 0.5% at $50.87, although its 52-week trading range is $48.30 to $59.98.

Jon C. Ogg
November 6, 2007

Posted on: November 6, 2007 – 3:46 pm in Drug companies, ,

NASDAQ Buying Philadelphia Stock Exchange? (NDAQ, NYX, ISE)

CNBC was just reporting that The NASDAQ Stock Market, Inc. (NASDAQ:NDAQ) is close to purchasing the Philadelphia Stock Exchange for a sum of $500 million to $600 million.

This might not make sense to some, but this acquisition would give a substantial exposure to options trading.  The deal is said to be closing at some point in the next week.  Before counting your chickens here as a win, there is likely nothing keeping other exchanges Like NYSE (NYSE:NYX) or International Securities Exchange (NYSE:ISE) from making their own attempts to mark a deal for this exchange or others.

NASDAQ shares are up another almost 4% today at $49.60

Join the 24/7 Wall St. open email distribution list for analysis of special situations such as buyouts, reorganizations, spin-offs, recapitalizations, speculation and other special news not posted on the public web site.

Jon C. Ogg
November 6, 2007

Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: November 6, 2007 – 3:15 pm in Exchange News, Mergers and Buy Outs, , ,

Cramer Takes Some Jabs (UA, CAT, XOM, CLB, DE)

On Jim Cramer’s STOP TRADING segment on CNBC, Jim wanted to talk which oil companies were better than others with oil nearing $100/barrel. The ExxonMobil (NYSE:XOM) quarter wasn’t all that bad and shares are actually back up now.  CoreLabs (NYSE:CLB) is great domn $8 from highs. 

On Caterpillar (NYSE:CAT), Cramer said they executed poorly while others executed on target.  He thinks the company is not performing as it should.  Deere (NYSE:DE) is more agricultural but is doing well.

On Under Armour (NYSE:UA), Cramer addressed the insider sales and said the insider sales were too aggressive and he’s sick of seeing the insiders do it.  He agrees with the Morgan Stanley "underweight rating" now.  He said that the insiders explained the situation and then sold stock.  He said he feels like he got hosed, and now he has no confidence in it. Under Armour shares are down over 3.5% today at $49.50.

Join the 24/7 Wall St. open email distribution list for analysis of special situations such as split-ups, buyouts, reorganizations, and special news not posted on the public web site.

Jon C. Ogg
November 6, 2007

Posted on: November 6, 2007 – 2:52 pm in Cramer, , , , ,

$100 Oil Doesn’t Do Much For Oil Companies

Christophe de Margerie, Chief Executive of France’s Total, warned that if crude does continue to rise, upward trends on taxes and production costs could worsen. "Coupled with an increasing reliance on lower-margin natural gas to meet production goals, and on new oilfield contracts that limit the upside from high oil prices, $100/bbl oil could prove a disappointment," according to Reuters.

"Equity markets increasingly run the risk of misinterpreting the value impact of high oil prices," said Citigroup in a research note.

Reuters make that additional point that "profit growth will lag oil prices anyway because natural gas accounts for a large and growing part of output — around 30-40 percent for the companies named above — and gas prices have not risen as much as oil."

In other words, buying Exxon (XOM) on $100 crude may not be a bonaza.

Douglas A. McIntyre

Posted on: November 6, 2007 – 1:24 pm in Oil & Gas,

Blue Nile Earnings Set To Tell All (NILE)

Blue Nile, Inc. (NASDAQ:NILE) is set to report earnings after the close today.  The online jewelry retailer is expected to post earnings of $0.16 EPS on $68 million revenues.  The estimates for calendar and fiscal Q4 are $0.44 EPS and just over $114 million in revenues.  If the company offers any fiscal guidance for 2008 the estimates are $1.29 EPS and $389.6 million in revenues; which represents roughly a 26% gain in EPS and a 21% revenue gain compared to consensus estimates.

Blue Nile has recovered a bit from recent lows, but shares are well off the $100+ highs of early to mid-October.  Options traders appear braced for a move of over $6.00 based upoin current pricing.  As shares are still up more than 100% from the end of 2006 and since Blue Nile is no longer in that massive uptrend, it looks like some traders have been stepping out of the way ahead of the earnings.  The mid-October short interest listed 3.364 million shares as the short interest, which is about 5.2-times average daily volume.

Analysts are all over the map on price targets here, and we recently noted how Citigroup made one of the recent upgrades from a Sell to a Hold ahead of the event.

Here was the August 6 preview for that round of earnings if you wish to compare.

Jon C. Ogg
November 6, 2007

Posted on: November 6, 2007 – 1:23 pm in Earnings, Internet, Retail,

Lazard Calls For Capstone Turbine To Double (CPST)

Shares of Capstone Turbine Corp. (NASDAQ:CPST) are up in early trading after the open, although not as much as one might suspect, on a key analyst call.  Sanjay Shrestha, Managing Director and Senior Analyst, Alternative Energy & Industrials at Lazard Capital Markets, has initiated coverage of CPST with a Buy rating and a $2.50 target.  Normally we might not even cover a stock with a $1.28 price, but this analyst has been quite insightful in alternative energy stocks and the price target of $2.50 is roughly a call for the stock to double.

Shrestha believes this is a turnaround story and represents an attractive way to invest in the expected growth of the distributed generation (DG) market.  Shrestha adds, "We expect significant growth in distributed generation driven by increasing electric demand, coupled with an aging transmission and distribution network and an increasing need for power quality and reliability….. The company appears to be gaining sales traction in a number of key markets and has successfully rebuilt its OEM and distributor network, which we believe will help propel further sales."

"Our $2.50 price target reflects a 25x multiple on our 2012 EPS estimate of $0.20 discounted back at 25% for three years. We believe it is important to look at a 2012 earnings scenario given the company’s growth trajectory and market penetration."

Right after the open, shares of Capstone are trading up almost 2% at $1.26, but shares were at $1.28 earlier.  It only trades about 2 million shares per average daily volume and its 52-week trading range is $0.75 to $1.65.  Even if it is a $1.00+ stock, a call for shares to double is at least one to watch.

Jon C. Ogg
November 6, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: November 6, 2007 – 9:51 am in Alternative Energy, Analyst Calls,

Nortel (NT): Poor Quarter, But Stock Up

Nortel (NT) turned in less that stellar numbers, but relief that it is not the next Alcatel-Lucent (ALU) sent shares up 7%. The stock still trades fairly near its 52-week low.

Nortel had revenue of $2.70 billion, down 8 percent year over year and 4 percent on a year-to-date basis. The company’s large carrier network division revenue fell 19%.

The Company reported net earnings in the third quarter of 2007 of $27 million, or $0.05 per common share on a diluted basis, compared to net loss of $63 million, or $0.14 per common share on a diluted basis, in the third quarter of 2006.

A bit of a mess, but not as bad as it might have been.

Douglas A. McIntyre

Posted on: November 6, 2007 – 9:41 am in Telecom,

Cisco Systems Stock & Options Active Before Earnings (CSCO)

Shares of Cisco Systems (NASDAQ:CSCO) have been trading up at the higher-end of a trading range ahead of the earnings on Wednesday afternoon.  First Call consensus was $0.36 EPS on $9.54 Billion in revenues on last look, although it won’t be a huge shock if those change slightly on the revenue side before the report.

Here was Chambers’ last guidance: The company increased expectations for next year but not focusing on short-term.  Chambers raised longer-term guidance to 12-17% from 10-15% range previously given.  Sees 2008 now 13-16% and revenue guidance for next quarter is 9.45 to $9.55 Billion (versus prior $9.38 Billion estimates).

First Call has next quarter estimates at $0.38 EPS and revenues at $9.81 Billion for the quarter.  The average analyst target is roughly $36.00.  If any last minute changes come in, we’ll do one last update with options pricing expectations etc.

Interestingly enough, yesterday it was a very skewed day on call option buying with over 81,000 contracts in the closest strike prices.  There were over 160,000 contracts in the open interest at the closest strike prices in November call options, which is roughly 16 million shares on a fully leveraged basis.  the last short interest from mid-October was 43.89 million shares, about 1.2 days-to-cover.

Traders will want to obviously stay tuned to Cisco, because this may end up being the "relative value" stock used for the entire web and data communications related stocks from the tech sector as a whole for the rest of the year.  We sent some advanced data on this last week to our free email group where we cover key upcoming events, buyouts, spin-offs, IPO’s, and more.

Jon C. Ogg
November 6, 2007

Posted on: November 6, 2007 – 9:38 am in Earnings, Technology Companies,

Momenta Pharma (MNTA) Down 46%

Shares of Momenta Pharma (MNTA) are off 46% to $7.27, a 52-week low. The company said said Tuesday the Food and Drug Administration denied approval for its blood clot drug enoxaparin sodium, being developed with partner Novartis.

Douglas A. McIntyre

Read More »

Posted on: November 6, 2007 – 9:35 am in FDA,

GTX Soaring On Merck Collaboration (GTXI, MRK)

GTx, Inc. (NASDAQ: GTXI) is seeing shares trade sharply higher on a collaboration pact with Merck (NYSE: MRK).  The biotech and drug giant pact is for research and development and a strategic collaboration for selective androgen receptor modulators (SARMs).  This is a new class of drugs with the potential to treat age-related muscle loss (sarcopenia) as well as other musculoskeletal conditions.

This collaboration includes GTx’s lead SARM candidate, Ostarine™, which is currently being evaluated in a Phase II clinical trial for the treatment of muscle loss in patients with cancer, and establishes a broad SARM collaboration under which GTx and Merck will pool their programs and partner to discover, develop, and commercialize current as well as future SARM molecules.  Merck will be responsible for all future costs associated with ongoing development and, if approved, commercialization of Ostarine and other investigational SARMs resulting from the collaboration.

GTx and Merck will combine their respective SARM research programs and GTx will receive an upfront payment of $40 million plus $15 million in research reimbursements to be paid over the initial three years of the collaboration. In addition, Merck will make an equity investment of $30 million in GTx common stock at a 40 percent premium to the 30 day average closing price.  But the longer-term function of the contract is the real kicker.  GTx will also be eligible to receive up to $422 million in future milestone payments associated with the development and approval of a drug candidate if multiple indications receive regulatory approval. Additional milestones may be received for the development and approval of other collaboration drug candidates. GTx will receive royalties on any resulting worldwide product revenue.

Shares of GTX Inc. are indicated up almost 20% at $17.27 pre-marklet, although it is on thin volume.  The 52-week trading range is $10.53 to $23.64, and before this pop its market cap was $504 million.  The last available short interest showed 2.77 million shares listed in the short interest, which is a whopping 23 days-to-cover ratio.

Jon C. Ogg
November 6, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: November 6, 2007 – 8:37 am in Biotech, ,

Pre-Market Stock News (November 6, 2007)

  • Archer-Daniels Midland (ADM) $0.71 vs. $0.59 est.
  • Asset Acceptance Corp. (AACC) -$0.05 EPS vs -$0.05 est.
  • Beazer (BZH) cutting 1/4 workers and suspends dividend; sees new order down 50%.
  • Church & Dwight (CHD) $0.69 EPS vs. $0.589 est.; sees 2007 EPS $2.42-2.44 vs. $2.36 consensus.
  • Cooper Tire (CTB) $0.28 EPS vs $0.30 est.
  • El Paso (EP) $0.22 EPS vs $0.23 est.
  • Emerson (EMR) $0.78 EPS vs $0.75 est.
  • Environmental Tectonics’ (ETC) Aeromedical division won two new contract awards in Middle-East worth a total of $20 million.
  • Fuel-Tech (FTEK) $0.04 EPS vs. $0.06 est.; sees 2007 revenues $76-79 million vs. $79.7 million est.
  • Gerdau AmeriSteel (GNA) $0.40 EPS vs $0.42 est.
  • Google (GOOG) up $25 on analyst Sanford Bernstein raised target to $850.
  • International Securities Exchange (ISE) $0.62 EPS vs $0.53 est.
  • Kellwood (KWD) sets 2008 targets of $1.55 billion revenue from operations and sees $1.50 EPS.
  • K-Swiss (KSWS) $0.36 EPS vs $0.34 est.
  • Momenta Pharma (MNTA) announced FDA letter received says its M-Enoxaparin ANDA is NOT Approvable in current form.
  • Nortel Networks (NT) $0.05 EPS after charges vs. $0.11 est.; Revenues $2.71 Billion vs. $2.77 Billion est.
  • PetroQuest (PQ) $0.16 EPS vs. $0.14 est.
  • PowerSecure $0.15 EPS vs. $0.17 est.
  • QLogic (QLGC) announced a $200 million share buyback plan.
  • Sun Micro (JAVA) up 1.5% after earnings, despite lackluster report.
  • TheStreet.com (TSCM) $0.13 EPS vs $0.12 est.; Revenues $16.1 million vs. $16.3M est.
  • Urban Outfitters (URBN) sees revenues for Q3 at $379.3 million versus $374.5 million est.; s-s-s +8% for the quarter.
  • Valero (VLO) $1.40 EPS vs $1.35 est., but had lowered preliminary numbers.
  • Watson Pharma (WPI) $0.33 EPs vs $0.30 est.

Jon C. Ogg
November 6, 2007

Posted on: November 6, 2007 – 8:25 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , , , , ,

Newspapers Will Try To Compete With Internet Portals

Big city newspapers want what they lost to portals like Yahoo! (YHOO) and MSN. They want their advertising back. According to The Chicago Tribune "sources close to the situation said Gannett Co (GCI)., Tribune Co (TRB)., Hearst Corp., Media News Group and Cox Newspapers may band together to form a common ad sales force that could offer national advertisers "one-stop shopping" for ad space on big-market Web sites across the nation.

Yahoo! and Google (GOOG) are also setting up newspaper networks, but if the large chains can get the papers in the ten largest markets to join their alliance, it may deal a blow to the attempts of online companies to sell advertising on behalf of the chains.

Why pay Yahoo! a piece of the action if the online advertisers will deal with papers directly?

Douglas A. McIntyre

Posted on: November 6, 2007 – 8:10 am in Internet, , , ,

Pre-Market Analyst Calls (November 6, 2007)

Stock Tickers: ANF, ARO, AEO, ANN, ADSK, BMRN, CA, CHS, C, COGN, CWTR, ETR, GPS, GOOG, JCG, LF, MA, MSFT, ORH, ORCL, PAS, PNWIF, PT, RIMM, JAVA, SYMC, UA, URBN

Abercrombie & Fitch (ANF) started as Buy at UBS.
Aeropostale (ARO) started as Neutral at UBS.
American Eagle Outfitters (AEO) raised to Hold at Citigroup.
Ann Taylor (ANN) started as Buy at UBS.
Autodesk (ADSK) raised to Overweight at Lehman.
Biomarin (BMRN) Started as Buy at Jefferies.
CA INC. (CA) raised to Equal-Weight at Lehman.
Chico’s FAS (CHS) started as Neutral at UBS.
Citigroup (C) cut to Neutral at B of A.
Cognos (COGN) cut to Sector Perform at CIBC.
Coldwater Creek (CWTR) started as Neutral at UBS.
Entergy (ETR) cut to Hold at Jefferies.
Gap Inc. (GPS) started as Buy at UBS.
Googe (GOOG) target raised to $850 at Sanford Bernstein.
J.Crew (JCG) started as Neutral at UBS.
Leapfrog (LF) started as Strong Buy at Needham.
MasterCard (MA) raised to Buy at Deutsche Bank.
Microsoft (MSFT) removed from Conviction Buy List at Goldman Sachs.
OdysseyRe (ORH) raised to Hold at Citigroup.
Oracle (ORCL) replaced Microsoft on Goldman Sachs Conviction Buy List.
PepsiAmericas (PAS) cut to Underweight at JPMorgan.
PhotoChannel (PNWIF) started as Buy at Merriman Curhan Ford.
Portugal Telecom (PT) raised to Buy at UBS.
Research In Motion (RIMM) raised to Outperform at Credit Suisse.
Sun Micro (JAVA) raised to Buy at Citigroup.
Symantec (SYMC) cut to Equal-Weight at Lehman.
Under Armour (UA) started as Underweight at Morgan Stanley.
Urban Outfitters (URBN) started as Buy at UBS.

Jon C. Ogg
November 6, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: November 6, 2007 – 7:57 am in Analyst Calls, , , , , , , , , , , , , , , , , , , , , , , , , , , ,