Posts for Ticker ‘APD’

Airgas Plays M&A Poker (ARG, APD)

Airgas, Inc. (NYSE: ARG) has announced that its board of directors has voted unanimously against recommending the unsolicited buyout offer from Air Products & Chemicals, Inc. (NYSE: APD).  The deal rejected is the most recent $60.00 per share in cash, via an unsolicited tender offer.  The board is recommending that Airgas shareholders do not tender their shares to Air Products.  The company said that Air Products’ offer significantly undervalues Airgas and the offer does not reflect the value of Airgas’ future prospects.  Also noted was that this is the largest and most valuable packaged gas business in the world that can deliver greater value than this offer.

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Posted on: February 22, 2010 – 8:47 am in Mergers and Buy Outs, ,

Airgas Wants More From Air Products (ARG, APD)

After the Airgas, Inc. (NYSE: ARG) unsolicited offer from Air Products & Chemicals, Inc. (NYSE: APD) was made, we noticed how there was a premium to the deal’s public price.  We even noted that Jefferies had given a potential scenario of $68.00.  Now we know why rather than just suspect why.   Airgas’ Board of Directors announced that the Air Products’ February 5 proposal AND the previously rejected $62 per share offer grossly undervalue Airgas.  Based upon how the release was handled this week and based upon the news reports, it seemed that this first denial of an offer was certain.
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Posted on: February 9, 2010 – 5:41 pm in Mergers and Buy Outs, ,

The Unusual Suspects (AMAG, AAPL, BIDU, DENN, APD, ARG, MU, GILD, XNPT)

This past week was filled with many surprises and earnings are still coming on strong.  We wanted to look at some companies that either have unfinished business or are on deck with pending news this coming week for our review of the Unusual Suspects.  AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) has a rebuttal, Apple Inc. (NASDAQ: AAPL) needs to be watched like a hawk over the chart, Baidu, Inc. (NASDAQ: BIDU) is on deck with earnings, and Denny’s Corp. (NASDAQ: DENN) is another Super Bowl play.  We have two issues in M&A with Airgas Inc. (NYSE: ARG) and then potentially in Micron Technology Inc. (NASDAQ: MU).  And we have FDA events pending in Gilead Sciences Inc. (NASDAQ: GILD) and in XenoPort, Inc. (Nasdaq: XNPT).

We have compiled details on each stock with certain expectations and relevant data on each.
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Posted on: February 6, 2010 – 12:23 pm in Biotech, Calendar, Earnings, Editor's Picks, Mergers and Buy Outs, Rumors, , , , , , , , ,

More Questions Than Answers in Airgas and Air Products & Chemicals (APD, ARG)

Air Products & Chemicals Inc. (NYSE: APD) may have opened up a can of worms with its planned acquisition of Airgas Inc. (NYSE: ARG).  For starters, Air Products has a market cap of $14.5 billion.  Airgas has a market cap of almost $5 billion after the 40% gain since the deal was announced.  This merger brings up many questions that have few answers.

The $5.1 billion deal is actually closer to a $7 billion deal if you tally up the debt.  This is a $60 per share cash deal.  It effectively turns a large profit for every single shareholder.
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Posted on: February 5, 2010 – 11:59 am in Business Services, Mergers and Buy Outs, Regulation, ,

Top 10 Analyst Upgrades, Downgrades, Initiations (APD, AKAM, FSLR, MA, MHP, MCO, NFLX, SVNT, UA, V)

These are this Friday’s top ten analyst upgrades, downgrades, and initiations seen from Wall Street research calls:

Air Products & Chemicals (NYSE: APD) Started as Outperform at William Blair.
Akamai Technologies, Inc. (NASDAQ: AKAM) Raised to Buy at Citigroup.
First Solar Inc. (NASDAQ: FSLR) Raised to Buy at Collins Stewart.
Mastercard Incorporated (NYSE: MA) Started as Outperform at Oppenheimer.
The McGraw-Hill Companies, Inc. (NYSE: MHP) Started as Buy at BofA Merrill Lynch.
Moody’s Corp. (NYSE: MCO) Started as Buy at BofA Merrill Lynch.
Netflix, Inc. (NASDAQ: NFLX) Cut to Hold at Citigroup.
Savient Pharmaceuticals (NASDAQ: SVNT) Started as Overweight at JPMOrgan.
Under Armour (NYSE: UA) Started as Buy at Jefferies.
Visa, Inc. (NYSE: V) Started as Outperform at Oppenheimer.

You can join our open email distribution list to hear more news on key analyst calls, top day trader alerts, mergers and acquisitions, Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Posted on: December 4, 2009 – 7:56 am in Analyst Calls, Pre-Market Activity, Trading Alert, , , , , , , , , ,

Top Analyst Upgrades and Downgrades (AET, APD, ADSK, ENOC, LEN, ERIC, MET, PRGO, PM, VECO)

These are the top Wall Street research calls with analyst upgrades and downgrades early this Tuesday morning:

Aetna (AET) Raised to Sell from Conviction Sell List at Goldman Sachs; no real upgrade.
Air Products (APD) Raised to Overweight at JPMorgan.
Autodesk (ADSK) Raised to Buy at Jefferies.
EnerNOC (ENOC) Raised to Buy at Jefferies.
Lennar (LEN) Cut to Hold at Citigroup.
LM Ericsson (ERIC) Cut to Sell at UBS.
MetLife (MET) Cut to Neutral at BofA Merrill Lynch.
Perrigo (PRGO) Cut to Neutral at Credit Suisse.
Philip Morris (PM) Cut to Neutral from Buy at UBS.
Veeco (VECO) Raised to Buy at Citigroup.

JON C. OGG
JULY 28, 2009

Posted on: July 28, 2009 – 7:37 am in Analyst Calls, , , , , , , , , ,

Top 10 Analyst Upgrades and Downgrades (APD, CHTT, CTXS, FCX, PLAB, QCOM, SAP, PCU, STM, HOT)

These are the top ten pre-market analyst upgrades, downgrades, and initiations we have seen from Wall Street analysts this Wednesday morning with about two and a half hours until the market opens:

  • Air Products (APD) Raised to Buy at KeyBanc.
  • Chattem (CHTT) Cut to Hold at Jefferies.
  • Citrix Systems (CTXS) Cut to Perform at Oppenheimer.
  • Freeport-McMoRan (FCX) Raised to Buy at Citigroup.
  • Photronics (PLAB) Raised to Buy at UBS.
  • Qualcomm (QCOM) Started as Outperform at Morgan Keegan.
  • SAP (SAP) Raised to Buy at Jefferies.
  • Southern Copper (PCU) Raised to Hold at Citigroup.
  • STMicro (STM) Raised to Buy at BofA/Merrill.
  • Starwood Hotels (HOT) Cut to Underperform at Baird.

JON C. OGG
JULY 8, 2009

Posted on: July 8, 2009 – 6:16 am in Analyst Calls, , , , , , , , , ,

Top10 Analyst Upgrades & Downgrades (ABB, APD, BP, BRCD, NAT, OSG, OVTI, TEVA, TRMB, WBS)

These are ten of the top analyst upgrades and downgrades that are independent of earnings news from Wall Street this Thursday morning:

ABB (ABB) Cut to Hold at Societe Generale.
Air Products (APD) Raised to Buy at Citigroup.
BP plc (BP) Raised to Buy at RBS.
Brocade Communications Systems (BRCD) Raised to Buy at Jefferies.
Nordic American Tanker (NAT) Cut to Sell at Cantor Fitzgerald.
Overseas Shipholding (OSG) Cut to Hold at Cantor Fitzgerald.
OmniVision (OVTI) Raised to Overweight at JPMorgan.
Teva (TEVA) Started as Buy at Jefferies.
Trimble Navigation (TRMB) Raised to Outperform at William Blair.
Webster Financial (WBS) Cut to Underperform at FBR.

JON C. OGG

Posted on: April 23, 2009 – 6:45 am in Analyst Calls, , , , , , , , , ,

Cramer Touting More Dividend Growers (PG, APD, NAT, MMM)

cramer-image2Jim Cramer’s featured list of stocks this week on CNBC’s MAD MONEY is on companies which have grown or will grow their dividends.  Tonight, Cramer touted Proctor & Gamble Co. (NYSE: PG) with a current yield of 3.4%.  Cramer said he normally wouldn’t back a defensive stock if we are close to a recovery, but the new money flow may debase the currency.  Cramer thinks P&G is a weak currency beneficiary and he thinks its pricing power can stick with its branding.  If this stock’s dividend safety sounds familiar, it is because P&G was one of our own big list of companies which we said would not cut its dividend.

On Monday evening, Cramer noted two others in detail: Air Products & Chemicals Inc. (NYSE: APD) and Nordic American Tanker (NYSE: NAT).

Also, we noted that 3M Co. (NYSE: MMM) is another stock which recently hiked its quarterly payout to holders.  3M shares are up over 20% from recent lows, and it is likely that the company would be one of the feature stocks Cramer discusses this week regarding dividend hikes.

Jon C. Ogg
March 24, 2009

Posted on: March 24, 2009 – 5:42 pm in Consumer Goods, Cramer, Dividend, , , ,

Cramer Touts Dividend Growers (APD, NAT, MMM, GE)

cramer-image1It looks like Jim Cramer is doing a new feature list of companies this week that may actually grow their dividends or that have boosted dividends.  On tonight’s MAD MONEY on CNBC, Cramer noted Air Products & Chemicals Inc. (NYSE: APD) as a gasses company that said it has growing conviction.  He noted that the company’s record date or his “must own date” is March 27, and he thinks that the higher dividend would come after that.  He noted that the earnings cover the dividend 2.2-times over.  It does have a currency problem, but it would be a great weak dollar play.

Cramer also brought on CEO Herbjorn Hansson of Nordic American Tanker (NYSE: NAT) to discuss whether the company’s earnings are strong and to speak about the dividend.  He said WE SHALL NOT CUT OUR DIVIDEND, but he did say the dividend will follow the market: “Higher market, higher dividend; lower market; lower dividend.”  Hansson also noted that he’d take advantage of acquisitions when he could, but acquisitions would be made if they increased the ability to pay out the dividend.  The CEO also noted that the recent secondary was not dilutive.  Cramer said this is the only tanker stock that he would endorse right now, although the dividend reasoning may be a bit “tied to the market” for the feature reference here in a classic sense.
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Posted on: March 23, 2009 – 6:08 pm in Cramer, Dividend, , , ,

Top Pre-Market Analyst Downgrades (AFFX, APD, ACAS, AMLN, AMAT, AINV, CTXS, DRYS, XOM, IRBT, LRCX, NFLX, NSR, NHY, NYX, BTU, UPS)

Burning_money_picThese are some of the top pre-market analyst downgrades and cautious calls we are seeing this Thursday morning:

  • Affymetrix (AFFX) Cut to Underweight at JPMorgan.
  • Air Products (APD) Cut to Neutral at JPMorgan.
  • American Capital (ACAS) Cut to Underperform at KBW.
  • Amylin Pharma (AMLN) Cut to Sell at Canaccord.
  • Applied Materials (AMAT) Started as Sell with $8 target at Auriga.
  • Apollo Investment (AINV) Cut to Market Perform at KBW.
  • Citrix Systems (CTXS) Cut to Neutral at Credit Suisse.
  • DryShips (DRYS) Cut to Underperform at Oppenheimer.
  • Exxon Mobil (XOM) Cut to Neutral at Goldman Sachs.
  • iRobot (IRBT) Cut to Neutral at JPMorgan.
  • Lam Research (LRCX) Cut to Underperform at Credit Suisse.
  • Netflix (NFLX) Started as Sell at Maxim Group.
  • Neustar (NSR) Cut to Neutral at JPMorgan.
  • Norsk Hydro (NHY) Cut to Market Perform at Bernstein.
  • NYSE Euronext (NYX) Cut to Neutral at Piper Jaffray.
  • Peabody Energy (BTU) Cut to Market Perform at FBR.
  • United Parcel Service (UPS) Cut to Underweight at Morgan Stanley.

Jon C. Ogg
January 29, 2009

Posted on: January 29, 2009 – 7:57 am in Analyst Calls, , , , , , , , , , , , , , , , ,

Top Pre-Market Analyst Downgrades (APD, AA, CENX, CERN, BOOM, ECLP, EE, FCX, K, LOGI, WYE)

Burning_money_picThese are some of the top pre-market analyst downgrades we have seen this Thursday morning with more than two hours until the market opens:

  • Air Products (APD) Cut to Hold at KeyBanc.
  • Alcoa (AA) Cut to Equal Weight at Morgan Stanley.
  • Century Aluminum (CENX) Cut to Equal Weight at Morgan Stanley.
  • Cerner (CERN) Cut to Hold at Jefferies; Cut to Perform at Oppenheimer.
  • Dynamic Materials (BOOM) Cut to Hold at KeyBanc.
  • Eclipsys (ECLP) Cut to Underperform at Jefferies.
  • El Paso Electric (EE) Cut to Hold at Jefferies.
  • Freeport-McMoRan Copper & Gold Inc. (FCX) Cut to Equal Weight at Morgan Stanley; Cut to Underperform at FBR.
  • Kellogg (K) Cut to Hold at Citigroup.
  • Logitech (LOGI) Cut to Sell at Citigroup.
  • Wyeth (WYE) Cut to Neutral at UBS.

Jon C. Ogg
January 22, 2009

Posted on: January 22, 2009 – 7:34 am in Analyst Calls, , , , , , , , , , ,

The 52-Week Low Club 9/25/2008 (PPC)(TDC)(ORCL)(APD)(SPSN)

Sad_clownPilgrim’s Pride (PPC) Company says it has liquidity issues. Sometimes that means Chapter 11.  The stock drops to $3.26 from 52-week high of $35.98.

Teradata Corp (TDC) is facing competition from Oracle (ORCL). It drops to $19.50 from 52-week high of $30.08.

Air Products and Chemicals (APD) lowers forecasts and is downgraded by Citi. Shares fall to $70.17 from 52-week high of $106.06.

Spansion (SPSN) gets a broker downgrade. It sells down to $1.65 from 52-week high of $8.68.

Douglas A. McIntyre

Posted on: September 25, 2008 – 2:51 pm in HI/LOW, , , , ,

Air Products Stumbles On The Way To Home (APD)

Airproducts_logoAir Products & Chemicals Inc. (NYSE: APD) has lowered its guidance for the quarter.  The company now sees its earnings in a range of $1.24 to $1.26 per share, below the $1.40 First Call consensus estimates. Its previous guidance was $1.37 to $1.42.  That range is also below the lower-end of the analyst range of $1.35.  Much of the issue here seems easy to justify, but as you go on this begins to sound more symptomatic more than unique cause and effect.

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Posted on: September 23, 2008 – 8:09 am in Earnings Warning,

Top Pre-Market Analyst Upgrades (APD, C, HBAN, MEOH, WFR, PPDI, SANM, SPG, WBS)

These are some of the top pre-market analyst Upgrades and positive calls we are seeing this Thursday Morning:

  • Air Products (APD) Raised to Overweight at JPMorgan.
  • Citigroup (C’) raised to Equal Weight at Morgan Stanley.
  • Huntington Bancshares (HBAN) Raised to Equal-Weight at Morgan Stanley.
  • Methanex (MEOH) Raised to Buy at UBS.
  • MEMC Electronic Materials (WFR) Raised to Overweight at JPMorgan; Raised to Buy at Citigroup.
  • Pharmaceutical Product Development (PPDI) Raised to Outperform at Baird.
  • Sanmina-SCI (SANM) Raised to Outperform at Credit Suisse.
  • Simon Property Group (SPG) Started as Overweight at Lehman.
  • Webster Financial (WBS) Raised to Overweight at Morgan Stanley.

Jon C. Ogg
July 24, 2008

Posted on: July 24, 2008 – 6:38 am in Analyst Calls, , , , , , , , ,

Chemicals on Fire After Rohm & Haas Merger With Dow (ROH, DOW, BRK.A, APD, CE, EMN, ASD, HUN)

Rohm & Haas (NYSE: ROH) has agreed to be acquired by Dow Chemical (NYSE: DOW) in an $18.8 Billion dollar merger ($15.3 Billion in equity value).  The terms to shareholders value the company at more than $78.00 per share in a cash buyout. 

Interestingly enough, Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) and the Kuwaiti Investment Authority are investing in the deal.  Rohm & Haas is more diversified than mere chemicals but a 74% premium deal has interest likely falling into other key chemical players and ones to watch would be Air Products (NYSE: APD), Celanese (NYSE: CE), Eastman Chemicals (NYSE: EMN), Ashland (NYSE: ASH) and in particular Huntsman Corp. (NYSE: HUN).

The deal is subject to shareholder approval, but this is likely a done deal so long as no anti-trust issues crop up.  The 52-week trading range is $44.13 to $62.68 and shares have never traded that high, so it seems no  one will fight this.   

There are more than 30% of the shares owned or controlled by Haas family trusts and they have indicated their support of the merger.  Rounding up the other votes should be easy at this point.

Jon C. Ogg
July 10, 2008

Posted on: July 10, 2008 – 6:38 am in Conglomerates, Mergers and Buy Outs, , , , , , , ,

Top 10 Pre-Market Analyst Calls (APD, PX, AMX, GOL, MA, MMM, UTX, MEDX, NEM, UBS, VIP, WWY)

These are not at all the only analyst calls being covered or making an impact in stocks this morning, but these are the ones 247WallSt.com is focusing on initially this morning:

  • Air Products (APD) & Praxair (PX) were both downgraded to Neutral at JPMorgan.
  • Amecia Movil SA (AMX) started as Overweight at HSBC.
  • Gol Intelligent Airlines (GOL) downgraded from Neutral at Sell at UBS.
  • MasterCard (MA) raised to Outperform at Keefe Bruyette Woods.
  • 3M (MMM) & United Technology (UTX) both started as Neutral at Banc of America.
  • Medarex (MEDX) downgraded from Outperform to Peer Perform at Bear Stearns.
  • Newmont Mining (NEM) downgraded from neutral to Underweight at HSBC.
  • UBS (UBS) raised to Outperform at Bear Stearns.
  • Vimpel Communications (VIP) downgraded from Peer Perform to Underperform at Bear Stearns.
  • Wrigley (WWY) downgraded to Equal Weight from Overweight at Lehman Brothers.

See full notes on Starbucks downgrade at Goldman Sachs.

Jon C. Ogg
December 11, 2007

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

Posted on: December 11, 2007 – 7:43 am in Analyst Calls, , , , , , , , , , , ,

Pre-Market Analyst Calls (October 2, 2007)

ACAD started as Hold at Citigroup.
ALB raised to Neutral at Goldman Sachs.
AMB raised to Buy at B of A.
APD cut to Neutral at Goldman Sachs.
BAC started as Buy at Goldman Sachs.
BDN cut to Neutral at B of A.
BIIB cut to Underperform at Credit Suisse.
BRLC cut to Neutral at R.W.Baird.
CBS cut to Hold at Deutsche Bank.
CNH cut to Neutral at Goldman Sachs.
CYPB started as Outperform at FBR.
ELN started as Underperform at FBR.
FRX raised to Hold at Citigroup.
MDCO raised to Buy at UBS.
MON removed from Goldman Sachs Conviction Buy List.
MPG cut to Sell at B of A.
NOK cut to Mkt Perform at JMP Securities.
NVT raised to Hold at Deutsche Bank (ooops); cut to Neutral at UBS.
ONXX cut to Peer Perform at at Bear Stearns.
PDLI raised to Outperform at Wachovia.
PLD raised to Buy at B of A.
RATE cut to Neutral at Merriman Curhan Ford.
SLG cut to Neutral at B of A.
STEI started as Buy at B of A.
UBS raised to Neutral at JPMorgan.
VAL cut to Sell at Goldman Sachs.
WAG cut to Neutral at Goldman Sachs (late Monday call); cut to Neutral at Merrill Lynch.

Jon C. Ogg
October 2, 2007

Posted on: October 2, 2007 – 6:42 am in Analyst Calls, , , , , , , , , , , , , , , , ,