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Top Analyst Upgrades & Downgrades (ARMH, ADCT, BIDU, BHP, C, PRGO, PLD, RIMM, SSYS, TIN, YHOO)

Administrator — Mon, 19 Jul 2010 12:42:46 +0000

These are some of this Monday’s top analyst research summaries of upgrades and downgrades from Wall Street firms:

ARM Holdings plc (NASDAQ: ARMH) Cut to Sell at Benchmark.
ADC Telecommunications (NASDAQ: ADCT) Cut to Hold at Auriga.
Baidu, Inc. (NASDAQ: BIDU) Maintained Hold but raised targets by Auriga.
BHP Billiton plc (NYSE: BHP) Cut to Neutral at Credit Suisse; Raised to Overweight at HSBC.
Citigroup Inc. (NYSE: C) Maintained Market Perform at KBW; Maintained Outperform at Oppenheimer.
Perrigo Company (NASDAQ: PRGO) Cut to Sell at Goldman Sachs.
ProLogis (NYSE: PLD) Raised to Outperform at Wells Fargo.
Research In Motion Ltd. (NASDAQ: RIMM) Started as Buy at Dundee
Stratasys (MASDAQ: SSYS) Raised to Buy at Needham.
Temple-Inland (NYSE: TIN) Cut to Neutral at Goldman Sachs.
Yahoo! Inc. (NASDAQ: YHOO) Raised to Buy at ThinkEquity.

Filed under: Analyst Calls Tagged: ADCT, ARMH, BHP, BIDU, C, PLD, PRGO, RIMM, SSYS, TIN, YHOO

Market Recovery: The Return of M&A in Tech and Telecom (ADCT, TEL, HPQ, ORCL, CIEN, Q, CTL, BRCD, CBB, CVLT, DELL, JDSU, LEAP, PCS, WFR, NOVL, PGI, RSH, TLAB, TDC, OVTI, SYNA)

Administrator — Wed, 14 Jul 2010 19:10:13 +0000

The latest and M&A deal in the world of technology and communications came to ADC Telecommunications Inc. (NASDAQ: ADCT) this week, where Tyco Electronics, Ltd. (NYSE: TEL) is paying $12.75 per share in cash for a net price of roughly $1.25 billion. After you have seen small and mid-sized deals come from Hewlett-Packard Co. (NYSE: HPQ) for 3Com and Palm, Oracle Corp. (NASDAQ: ORCL) for Sun and for Phase Forward, deals from Ciena Corp. (NASDAQ: CIEN) for Nortel’s metro ethernet operations, and even the proposed Qwest Communications International Inc. (NYSE: Q) merger with CenturyTel Inc. (NYSE: CTL), you have to wonder if more and more mergers are coming down the pipe now that the market has stabilized. We wanted to consider some of the routine go-to stocks that keep coming up through time as technology, communications, and telecom merger candidates.

Some names under consideration that have either been rumored to be in deals or which could potentially be in future M&A deals are Brocade Communications Systems, Inc. (NASDAQ: BRCD), Cincinnati Bell Inc. (NYSE: CBB), CommVault Systems, Inc. (NASDAQ: CVLT), Dell Inc. (NASDAQ: DELL), JDS Uniphase Corporation (NASDAQ: JDSU), Leap Wireless International Inc. (NASDAQ: LEAP), MetroPCS Communications Inc. (NYSE: PCS), MEMC Electronic Materials Inc. (NYSE: WFR), Novell Inc. (NASDAQ: NOVL), Premiere Global Services, Inc. (NYSE: PGI), RadioShack Corp. (NYSE: RSH), Tellabs Inc. (NASDAQ: TLAB), Teradata Corporation (NYSE: TDC), OmniVision Technologies Inc. (NASDAQ: OVTI), and Synaptics Inc. (NASDAQ: SYNA).

For starters, most of the companies listed as targets here are possible bolt-on mergers rather than super-mergers. Closing a mega-deal by the end of the year that has not been announced is going to be tough, and that likely means that the capital gains and the effects of the old Bush tax rates on capital gains will be either gone or muted in 2011. Businesses today are willing to spend cash for companies that can be easily integrated or that open up new and untapped markets for them. As far as a giant taking on another giant and then having to make divestitures and many layoffs, those deals are far less attractive for companies right now. Then there is the notion of a tougher regulatory approval environment for large mergers that has to be considered.

The list of companies we have provided falls into at least two of three distinct categories. The first category is that the company has been either a target or acquirer and a deal fell through. The second category is that the company has either been rumored to be in a merger or it is a company that is one we have viewed as a shoe-in target for the right acquirer. Lastly, there is the bolt-on deal or at a minimum a tool-box deal to make these easy for a buyer to gobble up.

We have compiled a list of predators and prey here for your review in the technology, telecom, and communications sectors. This list is displayed alphabetically to avoid any ranking issues or any more pointed issues over size and the real chances of a deal coming into play.

One name which used to come up routinely is Brocade Communications Systems, Inc. (NASDAQ: BRCD). This was one of our picks for stocks which could still double, and the buyout thesis for a low-cost provider in networking and storage was a part of why we thought the stock could double. The short-term moves are not working in favor of holders, so it would seem no deal is imminent even if shares are at $5.15.

Cincinnati Bell Inc. (NYSE: CBB) is one of the last of the “anything remotely tied to the Bells” stocks, although it has always been its own boss. It is the main telecom player for Cincinnati and its nearby areas located in Ohio, Indiana and Kentucky, making this a potential bolt-on acquisition for a larger telecom player. It has almost the same exact operational area as its license back to the end of the 1800′s with a 25 mile radius around Cincinnati. The small $615 million market cap would make this a line-item for a buyer, but it is worth noting that both AT&T and Verizon are going to have a harder and harder time under regulatory review in making acquisitions. With shares at $3.06, the 52-week trading range is $2.50 to $3.74.

CommVault Systems, Inc. (NASDAQ: CVLT) is on sale due to its disappointing guidance this week. The 21% drop to $18.50 would not likely make any lower-premium buyout more likely to be approved as the 52-week range is $15.60 to $24.51. That recent high is an all-time high though and a Goldman Sachs strategist had this as a potential buyout candidate earlier this year. Its Simpana platform aims to help enterprises manage data growth while cutting costs and adding security via cloud integration, deduplication, recovery, efficiency, virtualization, remote and branch office integration, and more. Valuations are an issue, although the 21% drop leaves a market cap at just about $800 million.

Filed under: Analyst Calls, Cult Stock, Editor's Picks, Industry, Internet, Mergers and Buy Outs, Private Equity, Rumors, Semiconductor, Semiconductors, Software, Technology, Technology Companies, Telecom, Wireless Tagged: ADCT, BRCD, CBB, CIEN, CTL, CVLT, DELL, HPQ, JDSU, LEAP, NOVL, ORCL, OVTI, PCS, PGI, Q, RSH, SYNA, TDC, TEL, TLAB, WFR

Top Analyst Upgrades & Downgrades (ADCT, ALL, AMSC, BSX, CSIQ, ENOC, ITRI, JASO, KBH, LIFE, MDT, PLD, RYL, SHW, TSL, VVUS, YGE)

Administrator — Wed, 14 Jul 2010 12:06:26 +0000

These are some of this Wednesday’s top analyst calls with upgrades, downgrades, and initiations seen from Wall Street firms:

ADC Telecommunications Inc. (NASDAQ: ADCT) Cut to Hold at Jefferies.
Allstate Corp. (NYSE: ALL) Started as Perform at Oppenheimer.
American Superconductor Corp. (NASDAQ: AMSC) Started as Buy at Jefferies
Boston Scientific Corp. (NYSE: BSX) Started as Perform at Oppenheimer.
Canadian Solar Inc. (NASDAQ: CSIQ) Started as Hold at Jefferies.
EnerNOC, Inc. (NASDAQ: ENOC) Started as Buy at Jefferies.
Itron Inc. (NASDAQ: ITRI) Started as Buy at Jefferies.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) Started as Buy at Jefferies.
KB Home (NYSE: KBH) Raised to Buy at Stifel Nicolaus; Goldman Sachs maintains Neutral at cut target to $13.
Life Technologies Corporation (NASDAQ: LIFE) Started as Outperform at Oppenheimer.
Medtronic, Inc. (NYSE: MDT) Started as Outperform at Oppenheimer.
ProLogis (NYSE: PLD) Started as Outperform at FBR.
Ryland Group Inc. (NYSE: RYL) Raised to Buy at Stifel Nicolaus; Goldman Sachs at Neutral but cut target to $18.
Sherwin-Williams Co. (NYSE: SHW) Cut to Sell at Goldman Sachs.
Trina Solar Ltd. (NYSE: TSL) STarted as Buy at Jefferies.
VIVUS, Inc. (NASDAQQ: VVUS) Raised to Outperform at Leerink Swann.
Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) Started as Buy at Jefferies.

JON C. OGG

Filed under: Analyst Calls Tagged: ADCT, ALL, AMSC, BSX, CSIQ, ENOC, ITRI, JASO, KBH, LIFE, MDT, PLD, RYL, SHW, TSL, VVUS, YGE

Top Day Trader Alerts (ADCT, ALU, FRE, FNM, JDSU, MED, MPEL, NBG, QCOR, TGT)

Administrator — Thu, 06 May 2010 12:21:51 +0000

There are many movers today, but a lack of the double-digit gainers and losers we have seen. The movers on news this Thursday for day traders and active traders are ADC Telecommunications Inc. (NASDAQ: ADCT), Alcatel-Lucent (NYSE: ALU), Freddie Mac (NYSE: FRE), Fannie Mae (NYSE: FNM), JDS Uniphase Corp. (NASDAQ: JDSU), Medifast Inc. (NYSE: MED), Melco Crown Entertainment Ltd. (NASDAQ: MPEL), National Bank of Greece SA (NYSE: NBG), Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR), and Target Corporation (NYSE: TGT). We have compiled a review of each and added color on each where applicable.

ADC Telecommunications Inc. (NASDAQ: ADCT) is showing some telecom equipment makers can win as it beat earnings and raised guidance. Shares are indicated up over 12% at $8.70 vs. a $5.18 to $9.78 trading range of the last 52-weeks.

Alcatel-Lucent (NYSE: ALU) is down again on earnings, well on losses at least. Shares are down about 10% on last look. Shares are indicated down 10% at $2.71 in active trading. Maybe Bell Labs will get to be bought back by a US company for $1.00….

Freddie Mac (NYSE: FRE) lost roughly another $8 billion in the latest quarter earnings report, well no earnings at all. It reportedly needs another $10.6 billion from the government to continue its operations. Shares closed at $1.43 and are indicated down around $1.33 or so in early trading. Go ahead and lump in Freddie’s slutty step-sister Fannie Mae (NYSE: FNM) here too… Fannie closed at $1.11 on Wednesday, and she appears to be peddling her stuff down around $1.07 this morning.

JDS Uniphase Corp. (NASDAQ: JDSU) is lower after its third quarter revenues missed expectations and as some unexpected weakness was seen in testing revenues. Shares are down around $12.70 after a $13.70 close.

Medifast Inc. (NYSE: MED) is still somewhat vague to see real indications, but this stock posted record earnings yesterday and shares were up almost 10% above $33 in the after-hours trading. This was a top IBD 100 stock recently and the 52-week range is $6.36 to $36.58.

Melco Crown Entertainment Ltd. (NASDAQ: MPEL) had a rough day yesterday on the Goldman downgrade. Shares closed at $4.27 vs. $4.60 the day before. Volume is very thin, but shares are indicated down 0.5% in the early pre-market hours.

National Bank of Greece SA (NYSE: NBG) is one you are probably equally as sick of hearing about. NBG is trading up marginally this morning despite continued and added concerns about Greece’s future with or without a bailout. Shares closed at $2.90 and we have seen a trading range of $2.89 to $2.95 for indications so far early this morning.

Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) is HALTED PENDING NEWS for its FDA review. While not trading now, this will be very active when it is freed up to trade. With a $9.16 close, its 52-week trading range is $3.10 to $9.98.

Target Corporation (NYSE: TGT) was way off target for monthly April sales: net retail sales were down 3.5% to $4.288 billion; same store sales were down a much worse 5.9%. Shares are down 4% at $53.81 on the disappointment.

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JON C. OGG

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Filed under: Pre-Market Activity, Trading Alert Tagged: ADCT, ALU, FNM, FRE, JDSU, MED, MPEL, NBG, QCOR, TGT

Top 10 Analyst Upgrades and Downgrades (ADCT, CSCO, CCI, FITB, M, PALM, POT, RIMM, X, YHOO)

247wallst — Mon, 08 Mar 2010 13:15:36 +0000

These are this Monday morning’s top analyst upgrades, downgrades, and initiations seen in early Wall Street research notes:

ADC Telecommunications Inc. (NASDAQ: ADCT) Raised to Neutral at JPMorgan.
Cisco Systems, Inc. (NASDAQ: CSCO) Raised to Overweight at JPMorgan.
Crown Castle International Corp. (NYSE: CCI) Cut to Market Perform at Wells Fargo.
Fifth Third Bancorp (NASDAQ: FITB) Cut to Market Perform at FBR.
Macy’s Inc. (NYSE: M) Raised to Buy at Soleil.
Palm, Inc. (NASDAQ: PALM) Cut to Underperform at Macquarie.
Potash Corp. (NYSE: POT) Raised to Buy at Morgan Joseph.
Research-in-Motion Ltd. (NASDAQ: RIMM) Raised to Outperform at BMO Capital.
US Steel (NYSE: X) Raised to Buy at Goldman Sachs
Yahoo! Inc. (NASDAQ: YHOO) Raised to Outperform at JMP Securities.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: ADCT, CCI, CSCO, FITB, M, PALM, POT, RIMM, X, YHOO

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

247wallst — Thu, 23 Oct 2008 06:30:01 +0000

These 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 in Analyst Calls Tagged: ACL, ADCT, AMMD, BGH, CNB, CNW, ERTS, FCX, NAT, OSG, PCU, STM

ADC Telecom Goes To Confession (ADCT)

247wallst — Wed, 22 Oct 2008 15:29:49 +0000

ADC 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.

As far as earnings, it sees a GAAP loss in a range of -$0.24 EPS to-$0.04 EPS after restructuring charges of $0.11 to $0.21 off of the EPStargets.

The company had $694 million of total cash and cash equivalents as ofSept. 26, 2008 and plans to be cash flow positive in both 2008 and 2009.

ADC plans to divest the its EMEA Professional Services business and todiscontinue certain outdoor wireless product families in its NetworkSolutions business unit. It also sees job cuts in North America aspart of its restructuring.

In September 2008, ADC completed the first $50 million of sharerepurchases at an average price of $9.81 per share as part of thepreviously announced $150 million program. The company plans torepurchase the remaining $100 million under a 10b5-1 trading plan.

Shares closed down over 7% at $5.19 today in regular session tradingand shares are down another 3.5% at $5.01 in after-hours trading. The52-week trading range is $4.81 to $19.28.

Jon C. Ogg
October 22, 2008

Posted in Earnings Warning, Telecom Tagged: ADCT

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

247wallst — Wed, 23 Jul 2008 06:29:25 +0000

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

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

247wallst — Wed, 16 Jul 2008 06:44:42 +0000

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

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

247wallst — Fri, 30 May 2008 07:01:02 +0000

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