Posts for Ticker ‘BID’

52-Week High Club (COMS, AMD, PLA, BID)

3Com Corp (NASDAQ: COMS) rose over 30% to a yearly high of $7.52 after Hewlett-Packard, the PC maker, announced plans to buy 3Com for $2.7 billion.

Advanced Micro Devices Inc. (NYSE: AMD) rose over 20% to a yearly high of $6.73 after the announcement that the company would receive $1.25 billion from Intel Corp. (NASDAQ: INTC) under an agreement that ends a legal dispute between the two companies over patents and antitrust accusations.  

Playboy Enterprises Inc. (NYSE: PLA) rose over 60% to a yearly high of $4.75 because the magazine is in talks to sell itself to Iconix Brand Group (NASDAQ: ICON).

Sotheby’s (NYSE: BID) rose as high as 11% to a yearly high of $19.50 after the action house raised $117 million at a sale yesterday.  

Garrett W. McIntyre

Posted on: November 12, 2009 – 4:31 pm in Earnings, Law, Mergers and Buy Outs, , , , , ,

The 52-Week Low Club (BID)(AVR)(MNKD)(GRMN)(SSCC)

Sotheby’s Holdings (BID) Market is turning against companies with rick customers are they become poor. Fallst to $24.37 from 52-week high of $61.40.

Aventine Renewable Energy (AVR) Crop prices go up, ethanol stocks down. Sells off to $4.55 from 52-week high of $20.85.

Mannkind Corp (MNKD) Inhaled insulin products run into FDA approval trouble. Shares drop 60% and hit low of $2.15 from 52-week high of $15.65.

Garmin (GRMN) Still dropping on earnings concerns. Bottoms at $45.38 down from 52-week high of $125.68.

Smurfit-Stone Container (SSCC) Paper companies hit by commodities costs and rising price of oil. Runs down to $6.65 from 52-week high of $14.08.

Douglas A. McIntyre

Posted on: April 9, 2008 – 2:40 pm in HI/LOW, , , , ,

52-Week Lows, Massive List (ALU, BGP, CELL, BBW, CVO, DENN, GCI, INFY, INTU, KLAC, NT, NWA, NXTM, PDLI, PFE, Q, SVVS, SNE, BID, TWX)

This was a massive list of lows today.  Not all closed on lows, but the list was chopped down greatly just to accommodate the size of it.  If you look at the list, there are no brokerage firms listed nor anymajor banks.  The major banks weren’t hitting the list but mostbrokerage firms were.  You can thank a firm called Bare Spurns for that. Here goes the eulogy:

  • Advance America (NYSE: AEA).. down over 10%, no real news released; financial exposure, although they are probably getting more and more pay day loans now. $6.08 at 3:30, old low $6.08.
  • Alcatel-Lucent (NYSE: ALU)… down almost 5% at $5.29, although late day got back above that $5.27 year low.
  • Borders Group (NYSE: BGP)… down another 6% ahead of earnings next week. The people that still buy books may be headed to the used book stores in tough times.  Maybe even the library.
  • Brightpoint (NASDSAQ: CELL)… day in and day out this one has been getting hit.
  • Build-a-Bear Workshop (NYSE: BBW)… now it can be even more opportunistic after ending strategic review and adding a larger buyback plan.
  • Cenveo (NYSE: CVO)… down 14% after earnings.
  • Denny’s (NASDAQ: DENN)… under $3.00 now… stock cheaper than the Grand Slam breakfast?  Maybe people can’t afford $3.00 breakfasts.
  • Gannett Co. Inc. (NYSE: GCI)… after earnings people still wary of newspaper operations.
  • General Motors (NYSE: GM)… flirting with 5-year lows.
  • Infosys Tech (NASDAQ: INFY)… This didn’t close under the old $33.80 low of the year, but was there intraday.  Maybe outsourcing is peaking.
  • Intuit (NYSE: INTU)… had no news, that pre-tax season trade getting cheaper and cheaper.
  • KLA-Tencor (NASDAQ: KLAC) hit hard again after downgrade already shaved off almost 10% earlier in wee.  Down 4.4% at $36.40 with 15 minutes to close.
  • Nortel Networks (NYSE: NT) at $6.34 at 3:45… High is $27.71.  What more can you say? It’s always on the list.
  • Northwest Airlines (NYSE: NWA) down over 3.5% at $9.50 with 15 minutes to close. What ever happened to that merger they were supposed to be in?
  • Nxstage Medical (NASDAQ: NXTM)… are kidney dialysis treatments economically sensitive?
  • PDL Biopharma (NASDAQ: PDLI).. so much for that buyout hope, that’s already been called off.  Almost under a $1 Billion market cap.
  • Pfizer (NYSE: PFE)… a true surprise to see this one here again.  Will it bust $20? Shares down 3% at $20.55 with 10 minutes to close.
  • Qwest Communications (NYSE: Q)…. now under $5.00.
  • Savvis Inc. (NASDAQ: SVVS)… down more than 5% to under the old $15.14 low. Doing IT, bandwidth, storage, network infrastructure, not as great when you have huge exposure to financial institutions.
  • Sony Corp. (NYSE: SNE)… just when it was getting its act back together… $41.81 right before close; old 52-week low was $42.10.
  • Sothebys (NYSE: BID)… down more than half from highs.  Wall Street’s "Even the rich are bitching!" must apply to high-end auctioneers too.
  • Time Warner (NYSE: TWX)….. now under $14.00.

Jon C. Ogg
March 14, 2008

Posted on: March 14, 2008 – 3:04 pm in HI/LOW, , , , , , , , , , , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (A, BBBY, BBY, DTV, ECL, EP, IBM, NTAP, LRCX, MOT, CRM)

These are not all of the calls affecting stocks, but these are the top analyst calls that 247WallSt.com is looking at this Thursday morning:

  • Blockbuster (NYSE: BBI) raised to Overweight at JPMorgan.
  • Borg Warner (NYSE: BWA) cut to Neutral at JPMorgan.
  • Boyd Gaming (NYSE: BYD) cut to Underweight at KeyBanc.
  • CDC Corp. (NASDAAQ: CHINA) started as Buy at Cantor Fitzgerald.
  • Chimera (NYSE: CIM) started as Neutral at JPMorgan.
  • Lear (NYSE: LEA) cut to Neutral at JPMorgan.
  • RF Micro Devices (NASDAQ: RFMD) downgraded to Hold at Jefferies.
  • Sotheby’s (NYSE: BID) raised to Outperform at JMP Securities.
  • Western Digital (NYSE: WDC) and Seagate (NYSE: STX) were both cut to Hold from Buy at Citigroup.
  • Varian (NASDAQ: VARI) raised to Buy at UBS.

Jon C. Ogg
February 28, 2008

Posted on: February 28, 2008 – 8:08 am in Analyst Calls, , , , , , , , , ,

Sotheby’s: No Auction Flippers Please (BID)

Just when you think the rich are immune and just when you think the super-wealthy Chinese and Russians will pay anything for any super-luxury good, the reminder is coming home that immunity is a stretch.  Take a look at the stock price collapse today at Sotheby’s (NYSE:BID).

Apparently there are fears that the art auctions are going to see their own recession, even though the company has not made any indications of that as a trend.  A Vincent Van Gogh landscape titled "Wheat Fields" that was painted shortly before his death went unsold.  Also coming up light were works of Picasso and Gaugin.  This last auction fetched $270 million, far short of a pre-sale estimate of $355 million.  It is a reminder of the movie ‘Wall Street’:  "Even the rich  are bitching!"

Banc of America cut the shares to ‘Neutral’ from ‘Buy,’ and boutique JMP Securities cut the rating to ‘Market Perform’ from an ‘Outperform’ rating.  Shares are already up over $4.00 from intraday lows at $35.70, but shares reached $31.20 in early trading.  The 52-week trading range is $29.81 to $61.40. 

24/7 Wall St. has had Sotheby’s as a potential "private equity wish list stock," although because of a prior dual class and prior voting control under the Taubman’s, we never did much work other than have it on a watch list.  After a quick glance this morning it appears the only change in control procedures now would basically require enhanced management payouts (simplification), but that is only giving it a quick look and we wouldn’t want to make any bold takeover or anti-takeover notes with an in-depth look.  We may revisit this for our Special Situation Investing Newsletter now that this has come off so much.

Jon C. Ogg
November 8, 2007

Jon Ogg produces the Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: November 8, 2007 – 10:37 am in Luxury,

Cramer’s Stealthy Uranium & Inflation Plays

On tonight’s MAD MONEY on CNBC, Jim Cramer had a stock that is leveraged to inflation: you buy Gold, Art, Collectibles.  He says you can buy Sotheby’s (BID-NYSE) because it is in a duopoly in the world now.  Cramer did say that this is actually in a secular trend of permanency where the rich are getting richer and richer.  He says this will help as more and more super-high-end items will sell.  He says their margins are huge and any extra business they get from prices rising goes straight to the bottom line.  He said he’s been behind this one for a long time and it is up 100% since then.

On a call-in Cramer said he also liked Ralph Lauren (RL-NYSE) since it is reacquiring all of their global licenses outstanding.

Cramer also came out discussing that Uranium has gone throught the roof.  He already gave a pick on Energy Metals (EMU-NYSE) back in February, and here’s what he said then.  He has two stocks that you can speculate on in the sector.  He says that you can extract Uranium from Phosphate.  It costs $50.00 per pound to do it (very expensive historically) but with Uranium at $113 per pound then you can look at Mosaic (MOS-NYSE) and CF Industries (CF-NYSE).  There are unintended consequences though because it can drop the price drastically.  Cramer noted that these companies have both done this in the past, and he said he likes them even if Uranium prices come back down.  With the number of nuclear power plants coming online, Cramer thinks that will be a big win.

Posted on: April 13, 2007 – 5:25 pm in Cramer, , , , ,