Posts for Ticker ‘ADCT’

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, , , , , , , , , , , ,

ADC Telecom Goes To Confession (ADCT)

Adc_logoADC Telecom (NASDAQ: ADCT) is trimming its fiscal revenue guidance and throwing out almost every other bit of key restructuring and financial data to offer some stability to the situation.  The telecom infrastructure equipment provider now sees sales from continuing operations for its 2008 fiscal year to be $1.47 to $1.495 billion rather than guidance offered on September 4, 2008 in a range of $1.5 to $1.52 billion.  the company said it is also now planning for lower revenues in 2009. 

Read More »

Posted on: October 22, 2008 – 3:29 pm in Earnings Warning, Telecom,

Top Pre-Market Analyst Downgrades (ADCT, ALV, CAT, FORM, GMR, GIII, MIR, SNIC, TGT, TOPS, WM, ZMH)

These are some of the top downgrades or negative analyst calls we are seeing this Wednesday morning in early pre-market hours:

  • ADC Telecom (ADCT) Cut to Neutral at Baird; Cut to Market Perform at FBR.
  • Autoliv (ALV) Cut to Hold at Deutsche Bank.
  • Caterpillar (CAT) Cut to Neutral at JPMorgan.
  • FormFactor (FORM) Cut to Perform  at Oppenheimer.
  • General Maritime (GMR) Cut to Neutral at JPMorgan.
  • G-III Apparel Group (GIII) Cut to Market Weight at Thomas Weisel.
  • Mirant (MIR) Cut to Equal Weight at Lehman.
  • Sonic Solutions (SNIC) Cut to Neutral at JPMorgan.
  • Target Corp. (TGT) Cut to Neutral at Credit Suisse.
  • Top Ships (TOPS) Cut to Underweight at JPMorgan.
  • Washington Mutual (WM) Cut to Sell at Piper Jaffray.
  • Zimmer Holdings (ZMH) Cut to Neutral at Piper Jaffray.

Jon C. Ogg
July 23, 2008

Posted on: July 23, 2008 – 6:29 am in Analyst Calls, , , , , , , , , , , ,

Top Pre-Market Analyst Downgrades (ADCT, ADTN, CBI, CIEN, CSCO, PAC, OESX, SAI, TWTC, USB, VRAZ)

These aren’t all of the downgrades or negative analyst calls we have seen this Wednesday, but these are some of the impact analyst calls we are seeing:

  • ADC Telecommunications (NASDAQ: ADCT) Cut to Neutral from Outperform at Credit Suisse.
  • Adtran (NASDAQ: ADTN) Cut to Underperform from Neutral at Credit Suisse.
  • Chicago Bridge & Iron (NYSE: CBI) Cut to Neutral at JPMorgan.
  • Ciena (NASDAQ: CIEN) Cut to Underperform from Outperform at Credit Suisse.
  • Cisco Systems (NASDAQ: CSCO) Cut to Neutral from Outperform at Credit Suisse.
  • Grupo Aeroportuario (NYSE: PAC) Cut to Sell from Neutral at Goldman Sachs.
  • Orion Energy Systems (NASDAQ: OESX) Cut to Market Weight at Thomas Weisel.
  • SAIC (NYSE: SAI) Cut to Neutral from Outperform at Cowen.
  • TW Telecom (NASDAQ: TWTC) Cut to Underweight from Overweight at JPMorgan.
  • US Bancorp (NYSE: USB) Cut to Sell from Hold at Deutsche Bank.
  • Veraz Networks (NASDAQ: VRAZ) Cut to Underperform from Hold at Jefferies.

Jon C. Ogg
July 16, 2008

Posted on: July 16, 2008 – 6:44 am in Analyst Calls, , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (ADCT, ANN, ASH, ASMI, CLHB, COST, IDTI, JCG, MRVL, NDAQ)

These are ten of the analyst calls we are focusing on this Friday morning:

  • ADC Telecom (NASDAQ: ADCT) raised to Overweight at JPMorgan.
  • AnnTaylor (NYSE: ANN) raised to Outperform at FBR.
  • Ashland (NYSE: ASH) cut to Underweight at JPMorgan.
  • ASM International (NASDAQ: ASMI) started as Underpeform at Jefferies.
  • Clean Harbors (NASDAQ: CLHB) raised to Outperform at Robert W. Baird.
  • Costco (NASDAQ: COST) cut to Neutral at Piper Jaffray.
  • Integrated Device Tech (NASDAQ: IDTI) cut to Neutral at Cowen & Co.
  • J. Crew (NYSE: JCG) cut to Market Perform at Wachovia; cut to Sell at Citigroup.
  • Marvell Tech (NASDAQ: MRVL) raised to Overweight at JPMorgan and raised to Outperform at oppenheimer.
  • NASDAQ (NASDAQ: NDAQ) raised to Overweight at Lehman Brothers.

Jon C. Ogg
May 30, 2008

Posted on: May 30, 2008 – 7:01 am in Analyst Calls, , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (ADCT, ALXN, ANAD, CCJ, ENR, GENZ, IPI, IVZ, SPLS, JAVA)

These are some of the top analyst calls we are looking at this Wednesday morning:

  • ADC Telecom (NASDAQ: ADCT) raised to Buy from Hold at Jefferies.
  • Alexion Pharma (NASDAQ: ALXN) started as Buy at Jefferies.
  • Anadigics (NASDAQ: ANAD) cut to Perform from Outperform at Oppenheimer.
  • Cameco (NYSE: CCJ) cut to Neutral from Buy at UBS.
  • Energizer (NYSE: ENR) started as Outperform at Bernstein.
  • Genzyme (NASDAQ: GENZ) raised to Outperform at Bernstein.
  • Intrepid Potash (NYSE: IPI) started as Sell at Soleil.
  • InVesco (NYSE: IVZ) started as Buy at Jefferies.
  • Staples (NASDAQ: SPLS) raised to Buy from Hold at Jefferies.
  • Sun Microsystems (NASDAQ: JAVA) Raised to Outperform from Market Perform at Wachovia.

Jon C. Ogg
May 14, 2008

Posted on: May 14, 2008 – 6:28 am in Analyst Calls, , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (ADCT, ABC, CAH, MCK, CRUS, LNG, HAIN, ISRG, NFS, PTR, VMED, WLK)

These are the top individual analyst calls we are focusing on this Thursday morning in pre-market trading:

  • ADC Telecom (NASDAQ: ADCT) raised to Buy at Deutsche Bank.
  • AmerisourceBergen (NYSE: ABC), Cardinal Health (NYSE: CAH), and McKesson (NYSE: MCK) were all downgraded to Hold from Buy at Citigroup.
  • Cirrus Logic (NASDAQ: CRUS) Cut to Perform from Outperform at Oppenheimer.
  • Cheniere Energy (NYSE: LNG) cut to Equalweight from Overweight at Lehman.
  • Hain Celestial (NASDAQ: HAIN) Cut to Underweight at JP Morgan.
  • Intuitive Surgical (NASDAQ: ISRG) started as Buy at Lazard; started as Market Outperform at JMP Securities.
  • Nationwide Financial (NYSE: NFS) Raised to Buy from Neutral at UBS.
  • PetroChina (NYSE: PTR) cut to Sell at Citigroup.
  • Virgin Media (NASDAQ: VMED) cut to Neutral at Jefferies,
  • Westlake Chemical (NYSE: WLK) Raised to Overweight at Morgan Stanley.

Jon C. Ogg
April 10, 2008

Posted on: April 10, 2008 – 6:54 am in Analyst Calls, , , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (ADCT, ARRS, EL, FLML, GERN, HD, LOW, MCD, MEDX, NOVL, NMX, DIS)

These are not the only pre-market analyst calls that are moving stocks, but these are the calls that 247WallSt.com is focusing on:

  • ADC Telecom (NASDAQ: ADCT) and Arris (NASDAQ: ARRS) raised to Buy at UBS.
  • Estee Lauder (NYSE: EL) raised to Buy at UBS.
  • Flamel (NASDAQ: FLML) raised to But at Merriman Curhan Ford.
  • Geron (NASDAQ: GERN) raised to Buy at UBS.
  • Home Depot (NYSE: HD) and Lowe’s (NYSE: LOW) started as Market Perform at Morgan Keegan.
  • McDonald’s (NYSE: MCD) downgraded to Peer Perform at Bear Stearns.
  • Medarex (NASDAQ: MEDX) started as Buy at UBS.
  • Novell (NASDAQ: NOVL) raised to Buy at Jefferies.
  • NYMEX (NYSE: NMX) downgraded to Hold at Citigroup.
  • Walt Disney (NYSE: DIS) downgraded to Sell at Citigroup.

Jon C. Ogg
January 29, 2008

Posted on: January 29, 2008 – 7:54 am in Analyst Calls, , , , , , , , , , , ,

Cramer Revisits An Oversold Tech Value (ADCT)

On tonight’s MAD MONEY on CNBC, Jim Cramer said he was sticking with his stance in finding technology companies that are either oversold or overlooked in the current market malaise where he thinks you can find value and the worst has already been seen.  To avoid the malaise of Intel, which he thinks wasn’t that bad, and to avoid the trick of IBM making you think it was all good, he remind that tech is not a standstill sector.  He noted BEA Systems and following Carl Icahn. 

Cramer’s pick tonight is ADC Telecom (NYSE: ADCT).  He thought it was cheap when he recommended it in December and this one is even cheaper now (meaning it sold off).  He thinks that the franchise has only gotten stronger.  It has an arms provider model that sells to everyone.  He’s going back over the the same data as in December as it is a FiOS winner.  He likes that it blew out numbers last time and he thinks they can deliver.  In his mind this could rise 60% from here.  It has $5 to $7 upside and he thinks maybe $1 downside, and he even thinks that Carl Icahn might like this one.

Last night his pick was Riverbed Tech (NASDAQ: RVBD) and you can see the full pick here.  On Monday, Cramer noted EMC Corp. (NYSE: EMC) as his top pick that he still likes.

ADC Telecom (NASDAQ: ADCT) closed up 3.44% today at $13.52, and this rose 4% to $14.02 in after-hours trading.

Jon C. Ogg
January 16, 2008

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Posted on: January 16, 2008 – 6:26 pm in Cramer, Technology Companies,

Top 10 Pre-Market Analyst Calls (ADCT, ADSK, BSX, EL, FFIV, PCZ, TLAB, GTS, VRTX)

These are not at all the only analyst calls that 247WallSt.com is looking at today in an active negative market, but these are 10 of the more influential calls that may stand out in an otherwise cautious or negative market:

  • ADC Telecom (NASDAQ: ADCT) raised to Outperform at Morgan Keegan.
  • Autodesk (NASDAQ: ADSK) cut to Hold from Buy at Jefferies.
  • Boston Scientific (NYSE: BSX) raised to BUY from Neutral at Banc of America.
  • Estee Lauder (NYSE: EL) raised to Neutral from Sell at UBS.
  • F5 Networks (NASDAQ: FFIV) cut to Hold from Buy at Jefferies.
  • Intel Corp. (NASDAQ: INTC) upgraded to Equal Weight from Underweight at Morgan Stanley; estimates lowered at Goldman Sachs (and likely many more).
  • Petro Canada (NYSE: PCZ) downgraded to Neutral from outperform at Credit Suisse.
  • Tellabs (NASDAQ: TLAB) raised to Buy from Neutral at UBS (large call option buying recently).
  • Triple S management (NYSE: GTS) started after quiet period: Outperform at Credit Suisse, Outperform at Oppenheimer, and Neutral at UBS.
  • Vertex (NASDAQ: VRTX) raised to Buy from Neutral at Banc of America.

Jon C. Ogg
January 16, 2008

Posted on: January 16, 2008 – 8:07 am in Analyst Calls, , , , , , , , ,

Pre-Market Stock News (DECEMBER 19, 2007) (ATU, ADCT, CEM, CSUN, DGIT, ETFC, AMTD, FITB, FRPT, GIS, GOOG, HOV, JOYG, LMC, MS, PALM, PHG, S, VIA, MSFT)

Below is a summary of many of the top headlines and news bits from individual stocks affecting share prices in pre-market trading this Wednesday:

  • Actuant (ATU) $0.52 EPS vs $0.48 estimate.
  • ADC Telecom (ADCT) traded down 4% after-hours. It filed a $400 million convertible note offering, and Cramer said it was a safe stock to play for Verizon and AT&T network build-outs.
  • Chemtura (CEM) said it will review Strategic Alternatives, including a possible sale of the company.
  • China Sunergy (CSUN) named Kenneth Luk as its Chief Financial Officer.
  • DG FastChannel (DGIT) shares are up 5% after it raised its 2007 and 2008 guidance.
  • E*Trade (ETFC) rose almost 4% in conjunction with
  • Fifth Third (FITB) warned of more credit losses but increased its dividend.
  • Force Protection (FRPT) traded down over 20% again after lower portion of Mine Resistant Ambush Protected vehicles for U.S. Marines.
  • General Mills (GIS) $1.14 EPS vs $1.13 estimates.
  • Google (GOOG) said its application to bid for spectrum was accepted by the FCC.
  • Hovnanian (HOV) losses reached $7.42 on lower sales and added charges and write-downs.
  • Joy Global (JOYG) $0.80 EPS vs $0.75 estimates.
  • Lundin Mining (LMC) stock indicated up almost 2% after it said it will repurchase up to 19.6 million shares of common stock.
  • Morgan Stanley (MS) posted -$3.61 net but had $5.7 Billion in mortgage write-downs totaling roughly $9 Billion in charges now; it is also in pact with China Investment for $5 billion investment.
  • Nike (NKE) reports earnings after the close today.
  • Oracle (ORCL) posts earnings after the close today.
  • Palm (PALM) lost 9% after wider losses than expected and even lower guidance ahead.
  • Philips (PHG) plans a $7.2 Billion share buyback.
  • Sprint (S) named Hesse from Embarq as its new CEO.
  • TD Ameritrade (AMTD) rose 4% after it raised guidance.
  • Viacom (VIA) in long-term digital content and advertising pact with Microsoft.

Jon C. Ogg
December 19, 2007

Posted on: December 19, 2007 – 8:15 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , ,

Cramer’s Telecom Build-Out Play, With After-Hours Weakness (ADCT)

On tonight’s MAD MONEY on CNBC, Jim Cramer already hosted Verizon’s CEO Seidenberg and discussed the bandwidth build-outs and the great things going on in wireless and their FiOS digital TV offering.  Cramer wanted to use his pin action trade analysis and he went back to one of the old tech stocks from the 1990’s:

  • ADC Telecom (NASDAQ:ADCT) is a stock that is winning from the fiber and wireless build-out of Verizon.  This is also part of AT&T’s long-distance build-out that is going.  It also bought a frame connectivity company in China and made another wireless acquisition.  ADCT also trades 14.6-times next year’s earnings.  Cramer thinks this one is back in the sweet spot and he said it can be held for a multi-year period.

What is a pure coincidence is that shortly before Cramer started MAD MONEY tonight, ADCT came out and announced a proposed subordinated convertible note offering to the tune of $400 million split evenly between 2015 and 2017 maturity dates.  Its market cap before the dilution was listed as almost $2.1 Billion.

ADC said it intends to use approximately $200 million of the net proceeds of this offering to repurchase prior to maturity or repay at maturity in June 2008 the outstanding $200 million aggregate principal amount of its 1% Convertible Subordinated Notes due 2008.  The remainder is set aside for general corporate purposes and strategic opportunities.  ADCT will use Credit Suisse and Morgan Stanley as joint book-running managers for the offering and co-managers are listed as J.P. Morgan and Bear Stearns & Co.

Shares would have likely been higher after the Cramer tout, but because of the stock offering the stock is trading down almost 5% in after-hours trading at $16.89 on what appears to be more than 400,000 shares in after-hours activity.  The 52-week trading range is $14.04 to $21.06. 

This stock conducted a 1 for 7 reverse stock split back in May 2005 after its shares had been perpetually stuck around $1.00 to $2.00 on an "old stock price" on an unadjusted split price.  Shares were then between $18.00 to $21.00 and are currently under that.  If you go back to the bubble days in 2000 on an adjusted basis this traded back over $200.00 during the fiber optics craze.

Jon C. Ogg
December 18, 2007

Posted on: December 18, 2007 – 6:37 pm in Cramer, Technology Companies, Telecom, ,

Pre-Market Stock News (June 7, 2007)

(A) Agilent reiterated guidance after completing Stratagene buyout.
(ADCT) ADC Telecom trading up 3% after posting $0.35 EPS vs $0.24 estimates.
(ANN) Ann Taylor May s-s-s -4.6% versus -3.1% estimate.
(ATVI) Activision will take $66.7 million non-cash and pre-tax charge for options back-dating.
(BEBE) Bebe Stroes May s-s-s -3% versus -2.8% estimate.
(BHI) Baker Hughes rig count rose 23 to 1,007 versus April and up from 920 in May 2006.
(BMET) Biomet’s private equity buyout raised to $46.00.
(CALL) CallWave announced the ‘industry’s first’ Visual Voicemail gadget for Google Personalized Homepage.
(CHINA) CDC Corp. appointed two new directors.
(COST) CostCo s-s-s were +7% in May, above 5.5% estimates.
(DJ) Dow Jones may have some interest from owner of Philadelphia Inquirer.
(DSCO) Discovery Laboratories initiated a Phase II clinical trial evaluating the use of Surfaxin in children up to two years of age suffering from Acute Respiratory Failure.
(ESLT) Elbit Systems awarded $110 million order by Thales UK to provide ISTAR capability for UK armed forces.
(FINL) Finish Line guided Q1 earnings below estimates and now sees a loss.
(HGSI) Human Genome Sciences shows positive final results Of Phase 2b trial of Albuferon
(IDEV) Indevus Pharmaceuticals reports positive data from Phase III NEBIDO trial for development for the treatment of male hypogonadism.
(INFN) Infinera Corp. IPO priced 14M shares at $13.00, above the 410.00 to $12.00 range.
(IMMC) Immunicon has released highlights from podium presentations made at ASCO meeting.
(JOSB) Jos. A. Banks may s-s-s +13.5% versus +4% estimate.
(JCP) JC Penney May s-s-s -2% vs +0.3% estimates.
(JWN) JW Nordstrom’s May s-s-s +6.3% versus +2.6% estimate.
(LTD) Limited Brands May s-s-s _2% vs -1% estimate.
(MSFT) Microsoft has entered a cross license pact with LG Electronics for further development of current and future product lines.
(OPTT) Ocean Power Tech awarded a $1.7 million Navy order for its PowerBuoys.
(SFD) Smithfield Foods $0.34 EPS vs $0.34e; named new CFO.
(SHRP) Sharper Image May s-s-s -8% vs -13% estimate.
(UTIW) UTI Worldwide $0.18 EPS vs $0.16e.
(WMT) Wal-Mart s-s-s +1.1% vs 1.2% estimate; sales were +1.3% after fuel.
(YANB) Yardville National gets $35.00 buyout from PNC.

Jon C. Ogg
June 7, 2007

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

Posted on: June 7, 2007 – 7:20 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , , , , , , , , , , ,