Posts for Ticker ‘ACL’

Top Pre-Market Analyst Upgrades & Downgrades (ACN, ACL, BHP, PGI, ASML, IPAR, ITRN, STM)

It is looking fairly quiet on the analyst research front this Monday morning.  Here are today’s early bird upgrades and downgrades from Wall Street analysts:

  • Accenture (ACN) Raised to Buy at SocGen.
  • Alcon (ACL) Raised to Outperform at Wachovia.
  • BHP Billiton (BHP) reinitiated as Buy at SocGen.
  • Premiere Global Services (PGI) Raised to Outperform at Oppenheimer.
  • ASML Holding N.V. (ASML) Started as Underperform at Jefferies.
  • Inter Parfums, Inc. (IPAR) Cut to Neutral at HSBC.
  • Ituran Location and Control, Ltd. (ITRN) Cut to Neutral at JPMorgan.
  • STMicro (STM) Cut to Sell at SocGen; targets cut at JPMorgan and UBS as well.

Jon C. Ogg
December 1, 2008

Posted on: December 1, 2008 – 7:20 am in Analyst Calls, , , , , , , ,

Early Bird Analyst Downgrades (ADCT, ACL, AMMD, BGH, CNB, CNW, ERTS, FCX, NAT, OSG, PCU, STM)

Down_arrow_redThese are some of the top analyst downgrades we are seeing from Wall Street firms this Thursday morning with more than two hours to the open:

  • ADC Telecommunications (ADCT) Cut to Underweight from Overweight at JPMorgan.
  • Alcon (ACL) Cut to Neutral from Overweight at JPMorgan.
  • American Medical Systems (AMMD) Cut to Market Weight at Thomas Weisel.
  • Buckeye Group Holdings LP (BGH) Cut to Neutral at Goldman Sachs.
  • Colonial Bancgroup Inc. (CNB) Cut to Neutral at JPMorgan.
  • Con-Way,Iinc (CNW) Cut to Neutral at Baird.
  • Electronic Arts (ERTS) Cut to Sell at S&P Equity Research.
  • Freeport-McMoRan (FCX) Cut to Neutral from Buy at Goldman Sachs.
  • Nordic American Tanker (NAT) Cut to Neutral at JPMorgan.
  • Overseas Shipholding (OSG) Cut to Neutral at JPMorgan.
  • Souhern Copper (PCU) Cut to Sell at Goldman Sachs.
  • STMicroelectronics (STM) Cut to Hold at S&P Equity Research.

Jon C. Ogg
October 23, 2008

Posted on: October 23, 2008 – 6:30 am in Analyst Calls, , , , , , , , , , , ,

The Week of Stock Buybacks (DELL, KDE, IBM, ACL, WU, IAAC, HBIO, PMRY, EDGW, KNXA, TRF, MT, CLDN, HGRD, FUL, PNSN)

This was an active week in share repurchases, and many key stocks announced new buyback plans or gave updates to their buyback plans.  Below are the key buybacks 247WallSt.com reviewed:

  • Kenexa (Nasdaq: KNXA) announced on November 8, 2007 that it authorized the repurchase of up to 2 million shares of the company’s common stock, and it has already completed the repurchase of over 1 million shares since the approval of the repurchase program.  It only has about 25.5 million shares outstanding.
  • Edgewater Technology, Inc. (NASDAQ: EDGW) announced that its Board of Directors authorized the purchase of up to $5.0 million of the Company’s common stock; approximate market cap is $87 million.
  • Harvard Bioscience, Inc. (NASDAQ: HBIO) has authorized the repurchase of up to $10 million of its common stock over the next 24 months; shares rose 5% Friday and its market cap is $130 million.
  • Pomeroy IT Solutions, Inc. (NASDAQ:PMRY) authorized a somewhat unusual program to repurchase up to $5 millionof its outstanding common stock.  In addition, the Board adopted awritten trading plan under Rule 10b5-1 of the Act to facilitate therepurchase of its common stock. Rule 10b5-1 allows the Company topurchase its shares at times when the Company would not ordinarily bein the market because of the Company’s trading policies or thepossession of material non-public information. Pomeroy’s market cap is$86 million.
  • Alcon, Inc. (NYSE:ACL) approved a new share repurchase program that allows for the purchase of up to $1.1 billionof shares of outstanding common stock targeted over a twelve monthperiod.  The $1.1 billion share repurchase program provides for a purchase of shares from the company’s majority shareholder,Nestle, S.A. Specifically at a rate of three shares fromNestle for every share acquired by the company in the market. This new program is in addition to thecompany’s existing repurchase program, under which, as of December 5,2007, the company has remaining authorization to repurchase up to 2.8million shares. It is anticipated that the new repurchase program willcommence in the first quarter of 2008.
  • The Western Union Company (NYSE: WU) authorized an additional $1 billionfor purchases of its common stock through 2009, and this is in additionto the approximately $300 million remaining under previous sharerepurchase authorization. With a $1.3 Billion total plan, it has $17Billion market cap.
  • International Assets Holding Corp. (NASDAQ:IAAC) renewed the Company’sshare repurchase authorization for an increased amount of $5,000,000 in shares of common stock.  The renewal will be effective January 1, 2008. IAAC’s market cap is $226 million.
  • 4Kids Entertainment (NYSE:KDE) saw its shares rise on a 1 million share buyback of around $11 million; market cap is $157 million.  FULL REVIEW with value investor synopsis.
  • Dell (NASDAQ:DELL) was the biggy of the week, but you wouldn’t haveknown it if you saw the stock trades.  It is reinstating its sharerepurchase plan and will spend up to $10 Billion in share buyback.  Its market cap is $55.8 Billion.  FULL COVERAGE.

Read More »

Posted on: December 7, 2007 – 1:54 pm in Stock Buybacks, The Week, , , , , , , , , , , , , , , ,

Pre-Market Analyst Calls (June 28, 2007)

ACL raised to Buy at Goldman Sachs.
ANDW cut to Neutral at Baird.
CRWN started as Buy at Oppenheimer.
CSCO raised to Buy at Merrill Lynch.
DNA reiterated Buy at Goldman Sachs with $102 target.
ENOC started as Hold at Canaccord Adams.
INTC raised to Overweight at Lehman.
IPG target cut to $13.50 at Deutsche Bank.
LSI estimates cut at Goldman Sachs.
PNM raised to Hold at Jefferies.
PNRA reiterated outperform at Baird.
PRAA raised to Buy at Jefferies.
RHT reiterated Outperform at Baird.
SYK cut to Neutral at Goldman Sachs.
TDG started as Neutral at B of A.

Jon C. Ogg
June 28, 2007

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

Posted on: June 28, 2007 – 6:47 am in Analyst Calls, , , , , , , , ,

Earlybird Analyst Calls (June 14, 2007)

ACL started as Buy at Jefferies.
AMGN started as Mkt Perform at Rodman & Renshaw.
B started as Outperform at CIBC.
CBB started as Buy at UBS.
CHE started as Buy at Jefferies.
CTL raised to Neutral at UBS.
CYTX started as Mkt Perform at Piper Jaffray.
DJ cut to Reduce at UBS.
EQ raised to Buy at UBS.
ESI cut to Equal Weight at Lehman.
EYE started as Underperform at Jefferies.
GNLB started as Buy at Oppenheimer.
ILMN raised to Outperform at Bear Stearns.
ISIL raised to Buy at B of A.
MFA started as Outperform at JMP Securities.
MNKD started as Buy at B of A.
OPTT started as Outperform at Bear Stearns.
PT raised to Outperform at Credit Suisse.
RACK started as Buy at Merriman Curhan Ford.
RBC started as Sector Perform at CIBC.
SLM cut to Peer Perform at Bear Stearns.
SNY cut to Neutral at HSBC; cut to Neutral at JPMorgan.
THI raised to Outperform at CIBC.
VDSI cut to Hold at Jefferies.
VTIV raised to Strong Buy at First Albany.
WIN started as Neutral at UBS.
ZGEN started as Neutral at Oppenheimer.

Jon C. Ogg
June 14, 2007

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

Posted on: June 14, 2007 – 6:29 am in Analyst Calls, , , , , , , , , , , , , , , , , , , , , , , , , , ,

Pre-Market Stock News (May 14, 2007)

(ACL) Alcan’s buyout bid by Alcoa is reportedly getting big interest from larger names such as Rio Tinto and others.
(BRLC) Syntax-Brillian filed to sell 25.6M shares, although the shelf was telegraphed with earnings last week.
(DCX) DaimlerChrysler is selling a majority stake in Chrysler to Cerberus Capital for $7.7 Billion; Chrysler will maintain 19.9% stake.
(FACT) First Albany is recapitalizing and will receive a $50M investment from Matlin Patterson.
(GE) GE’s NBC unit could or should merge with Yahoo! (YHOO) according to WSJ.
(GILT) Gilat Satellite $0.13 EPS vs $0.11e.
(INFT) Inforte gets a $4.25 cash buyout from Business & Decision.
(MMC) Marsh & McClennan announced $500M accelerated share buyback program.
(MRK) Merck received and FDA Approvable letter of its NDA for EMEND.
(MWA) Mueller Water names new CFO.
(MYL) Mylan Labs is acquiring Merck KGaA’s generic operations for about $6.7 Billion.
(NAT) Nordic American Tanker $0.85 EPS vs $0.83e.
(NAVR) Navarre is selling its independent music distribution business.
(PLXS) Plexus CFO retiring.
(QTWW) Quantum Fuel signed an agreement to acquire a 24.9% stake in a German solar company.
(SORC) Source Interlink to acquire PRIMEDIA’s Enthusiast Media unit for about $1.2 Billion.
(SYNF) Synergy Financial being acquired by New York Community Bancorp (NYB).
(TRMK) Trimark is paying $85M to acquire DATA RETURN from Saratoga Partners.
(ULBI) Ultralife Battery accepts modified order from last week lowered from $6.9M to $2.4M.
(USBE) US Bioenergy $0.08 EPS vs $0.21e.
(VAS) VIASYS being acquired by Cardinal Health (CAH) for $42.75.
(WMT) Wal-Mart is expanding electronics offerings and will include Skype equipment.

Jon C. Ogg
May 14, 2007

Posted on: May 14, 2007 – 6:35 am in Pre-Market Activity, , , , , , , , , , , , , ,