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24/7 Wall St. Closing Bell — April 11, 2013: Markets Mostly Hold Early Gains (MSFT, ADBE, SLB, KRFT, UA, ADTN, BBBY, NG, PIR, LEDS, CRMB, RAD, ACAD, BBRY, HPQ)

Paul Ausick — Thu, 11 Apr 2013 20:05:55 +0000

U.S. equity markets opened flat to lower this morning following yesterday’s record-setting session. Economic data was minimal today. In Asia, machinery orders rose more than expected in Japan, but the Shanghai market closed lower on bird flu worries. In Europe, the eurozone is expected to approve the Cypriot bailout plan tomorrow. Consumer price indexes in France and Germany came in pretty much as expected. In the U.S., the report on jobless benefit claims came in better than expected (more coverage here). U.S. March retail sales for many chain stores were reported today, and the results were perhaps a little better than expected (more coverage here). The Nasdaq trailed today following a report from IDC on lower PC sales in the first quarter of 2013.

The U.S. dollar index is trading down 0.33% today, now at 82.260. The GSCI commodity index is down 0.2% at 636.03. WTI crude oil closed down 1.2% today, at $93.51 a barrel, following a cut to its demand estimate by the IEA (more coverage here). Brent crude trades down 1.6% at $104.26 a barrel. Natural gas is up 1.5% today at about $4.14 per million BTUs, following a report today on natural gas inventories (more coverage here). Gold settled up 0.4% today at $1,564.90 an ounce.

The unofficial closing bells put the DJIA up more than 62 points to 14,864.75 (0.42%), the NASDAQ rose nearly 3 points (0.09%) to 3,300.16, and the S&P 500 rose 0.35% or nearly 6 points to 1,593.36.

There were a several analyst upgrades and downgrades today, including Microsoft Corp. (NASDAQ: MSFT) cut to ‘sell’ at Goldman Sachs and to ‘neutral’ at Nomura; Adobe Systems Inc. (NASDAQ: ADBE) raised to ‘neutral’ at Goldman Sachs; Schlumberger Ltd. (NYSE: SLB) maintained as ‘buy’ with a $90 price target at Argus; Kraft Foods Inc. (NASDAQ: KRFT) started as ‘market perform’ at Wells Fargo; and Under Armour Inc. (NYSE: UA) reiterated as ‘outperform’ and price target raised to $64 at Credit Suisse.

Earnings reports since markets closed last night resulted in some price moves today, including these as of the last half hour of trading: ADTRAN Inc. (NASDAQ: ADTN) is up 2.1% at $22.93; Bed Bath & Beyond Inc. (NASDAQ: BBBY) is down 1.9% at $64.23 (more coverage here); NovaGold Resources Inc. (NYSEMKT: NG) is up 2.3% at $3.03 after posting a new 52-week low of $3.01 earlier today; Pier 1 Imports Inc. (NYSE: PIR) is down 0.2% at $23.29; and SemiLEDS Corp. (NASDAQ: LEDS) is down 18.2% at $1.17.

Before markets open tomorrow morning we are scheduled to hear from Crumbs Bake Shop Inc. (NASDAQ: CRMB).

Some standouts among heavily traded stocks today include:

Rite Aid Corp. (NYSE: RAD) is up 18.7% at $2.13 after posting a new 52-week high of $2.15 earlier today. The drug store chain beat earnings expectations last night. More coverage here.

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) is up 67.4% at $13.34 after posting a new 52-week high of $13.92 earlier today. The clinical stage biopharmaceutical company said today that it will file for accelerated approval of an anti-psychosis drug for patients with Parkinson’s disease.

BlackBerry (NASDAQ: BBRY) is down 7.8% at $13.55. The mobile phone maker is reported to be seeing large numbers of returns for its Z10 touchscreen phone. More coverage here.

Hewlett-Packard Co. (NYSE: HPQ) is down 6.6% at $20.84. The PC and printer maker is getting battered on a report from IDC that PC sales are collapsing. More coverage here.

Stay tuned for Friday. Fed Chairman Ben Bernanke is giving a speech. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – Producer price index
8:30 a.m. – Retail sales
9:55 a.m. – Thomson Reuters/University of Michigan consumer sentiment index
10:00 a.m. – Business inventories

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ACAD, ADBE, ADTN, BBBY, BBRY, CRMB, HPQ, KRFT, LEDS, MSFT, NG, PIR, RAD, SLB, UA

24/7 Wall St. Closing Bell — April 10, 2013: Markets Set New Highs Again (ARO, HLF, IBM, IEP, THC, PSMT, KMX, STZ, FDO, JKS, TITN, ADTN, BBBY, NG, PIR, LEDS, FSLR, ABX, NOK)

Paul Ausick — Wed, 10 Apr 2013 20:04:26 +0000

U.S. equity markets opened higher this morning and both the DJIA and the S&P 500 climbed to new intra-day highs (more coverage here). The Fed mistakenly released FOMC minutes early to some Congressional staffers this morning, so the minutes were released to all before markets opened, helping to stoke today’s buying (more coverage here). In Asia, China posted a surprise trade deficit, entirely due to a 14% increase in imports. In Europe, industrial production increased in France, but dropped in Spain and Italy by more than expected. The “troika” has proposed to extend bailout loans to Ireland and Portugal by seven years. In the U.S., mortgage applications rose (more coverage here) and the Treasury’s auction of $21 billion in 10-year notes saw weaker demand as equities ruled today.

The U.S. dollar index is trading up 0.24% today, now at 82.513. The GSCI commodity index is up 0.8% at 637.09. WTI crude oil closed up 0.5% today, at $94.64 a barrel, following an inventory report that showed a smaller-than-forecast build in stockpiles (more coverage here). Brent crude trades down 0.5% at $105.87 a barrel. Natural gas is up 1.8% today at about $4.12 per million BTUs. Gold settled down 1.8% today at $1,558.80 an ounce, its largest one day drop since November.

The unofficial closing bells put the DJIA up more than 127 points to 14,800.78 (0.87%), the NASDAQ rose more than 59 points (1.83%) to 3,297.25, and the S&P 500 rose 1.22% or about 20 points to 1,587.71.

There were a several analyst upgrades and downgrades today, including Aeropostale Inc. (NYSE: ARO) cut to ‘sell’ with price target of $10 at Goldman Sachs; Herbalife Ltd. (NYSE: HLF) cut to ‘neutral’ at D.A. Davidson; International Business Machines Corp. (NYSE: IBM) raised to ‘buy’ at UBS; Icahn Enterprises LP (NASDAQ: IEP) started as ‘buy’ with a price target of $66 at Jefferies; and Tenet Healthcare Corp. (NYSE: THC) cut to ‘hold’ at Deutsche Bank.

Earnings reports since markets closed last night resulted in some price moves today, including these as of the last half hour of trading: PriceSmart Inc. (NASDAQ: PSMT) is up 5.7% at $84.77; Carmax Inc. (NYSE: KMX) is up 3.7% at $43.22 after posting a new 52-week high of $43.42 earlier today; Constellation Brands Inc. (NYSE: STZ) is up 0.4% at $48.83; Family Dollar Stores Inc. (NYSE: FDO) is up 1% at $60.40 (more coverage here); Jinkosolar Holding Co. Ltd. (NYSE: JKS) is down 9% at $5.28; and Titan Machinery Inc. (NASDAQ: TITN) is down 13.9% at $22.48.

Before markets open tomorrow morning we are scheduled to hear from ADTRAN Inc. (NASDAQ: ADTN), Bed Bath & Beyond Inc. (NASDAQ: BBBY), NovaGold Resources Inc. (NYSEMKT: NG), Pier 1 Imports Inc. (NYSE: PIR), and SemiLEDS Corp. (NASDAQ: LEDS).

Some standouts among heavily traded stocks today include:

First Solar Inc. (NASDAQ: FSLR) is down 7.3% at $36.49. The solar panel maker is giving back some of its 45%+ gain from yesterday. More coverage here.

Barrick Gold Corp. (NYSE: ABX) is down 8.7% at $24.38 after posting a new 52-week low of $24.30 earlier today. The gold miner is being slammed following a court decision that will suspend operations at its new Chilean mine.

Nokia Corp. (NYSE: NOK) is up 4.5% at $3.52. The mobile phone maker had no news today, but the company said earlier this week that it is launching a new phone with T-Mobile USA in May.

Stay tuned for Thursday. Retailers will be reporting same-store sales for March throughout the day. Philadelphia Fed President Charles Plosser and St. Louis Fed President James Bullard are giving speeches. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – New claims for unemployment benefits
8:30 a.m. – Import and export prices
10:30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – 30-year note auction
4:30 p.m. – Fed balance sheet and money supply

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ABX, ADTN, ARO, BBBY, FDO, FSLR, HLF, IBM, IEP, JKS, KMX, LEDS, NG, NOK, PIR, PSMT, STZ, THC, TITN

24/7 Wall St. Closing Bell — March 22, 2013: Markets Turn Higher Awaiting Cyprus Solution (KSS, LNKD, BEAM, ADTN, FDO, MU, NKE, SLW, VRNG, DRI, TIF, APOL, DG, JASO, MU, NKE, BBRY)

Paul Ausick — Fri, 22 Mar 2013 20:04:31 +0000

U.S. equity markets opened higher this morning and trading stayed positive territory all day. No solution has yet been agreed to the Cyprus banking crisis (more coverage here), but the delay has had little impact on U.S. stocks. There were no data releases in Asia or the U.S. today, and releases in Europe were muted as well. In Germany, the Ifo business climate index came in lower than expected (more coverage here). Fitch announced a ratings watch on U.K. sovereign debt with an eye toward a possible downgrade (more coverage here), but that did not move equity prices either.

The U.S. dollar index fell 0.42% today, now at 82.392. The GSCI commodity index is down 0.6% at 644.55, with commodities prices mixed today. WTI crude oil closed up 1.4% today, at $93.71 a barrel, to finish the week down just 0.1%. Brent crude trades up 0.2% at $107.66 a barrel. Natural gas is down 1% today at about $3.94 per million BTUs after rising above $4.00 briefly. Gold settled down 0.5% today at $1,606.10 an ounce, but finished the week up 0.9%, the third straight week the yellow metal has closed higher (more gold coverage here).

The unofficial closing bells put the DJIA up nearly 91 points to 14,512.26 (0.63%), the NASDAQ rose more than 22 points (0.70%) to 3,245.00, and the S&P 500 rose 0.72% or about 11 points to 1,556.89.

There were a several analyst upgrades and downgrades today, including Kohl’s Corp. (NYSE: KSS) cut to ‘sell’ at Deutsche Bank; LinkedIn Corp. (NYSE: LNKD) started as ‘sector perform’ at RBC Capital; Beam Inc. (NYSE: BEAM) started as ‘hold’ at Stifel Nicolaus; ADTRAN Inc. (NASDAQ: ADTN) raised to ‘market perform’ at Raymond James; and Family Dollar Stores Inc. (NYSE: FDO) raised to ‘buy’ at Deutsche Bank, but cut to ‘neutral’ at Citigroup.

Earnings reports since markets closed last night resulted in several price moves today, including these: Silver Wheaton Corp. (NYSE: SLW) is up 0.9% at $31.26; Vringo Inc. (NYSEMKT: VRNG) is up 0.4% at $2.85; Darden Restaurants Inc. (NYSE: DRI) is up 1.2% at $49.55; and Tiffany & Co. (NYSE: TIF) is up 2% at $69.24 (more coverage here).

Before markets open Monday morning we are scheduled to hear from Apollo Group Inc. (NASDAQ: APOL), Dollar General Corp. (NYSE: DG), and JA Solar Holdings Co. Ltd. (NASDAQ: JASO).

Some standouts among heavily traded stocks today include:

Micron Technology Inc. (NASDAQ: MU) is up 11.4% at $10.10 after posting a new 52-week high of $10.27 earlier today. The semiconductor maker reported results that were better than expected and snagged a few upgrades from analysts as well.

Nike Inc. (NYSE: NKE) is up 11% at $59.48 after posting a new 52-week high of $60.25 earlier today. The sports apparel company reported better-than-expected earnings, but missed revenues on lower sales in China. More coverage here.

BlackBerry (NASDAQ: BBRY) is down 8% at $14.85. The smartphone maker’s newest phone was launched in the U.S. today, but analysts expect a fizzle. More coverage here.

Stay tuned for Monday. New York Fed President William Dudley and Fed Chairman Ben Bernanke are giving speeches. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – Chicago Fed national activity index
10:30 a.m. – Dallas Fed manufacturing survey
11:30 a.m. – 3- and 6-month bill auctions

Have a great weekend!

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ADTN, APOL, BBRY, BEAM, DG, DRI, FDO, JASO, KSS, LNKD, MU, NKE, SLW, TIF, VRNG

Top Analyst Upgrades and Downgrades (ADTN, BEAM, BBRY, DEO, DSW, FDO, JBL, KSS, LNKD, LULU, MU, SLM, YELP)

Jon C. Ogg — Fri, 22 Mar 2013 12:30:25 +0000

From active traders to passive investors, it seems that everyone is interested in new ideas on how to make a profit. 24/7 Wall St. looks over research calls from all over the planet to find great ideas. Many research-driven ideas for stocks to buy and for stocks to sell come from independent research firms and some come from the large sell-side investment banking firms on Wall St. These are some of this Friday’s top analyst upgrades, downgrades and initiations seen from select Wall St. research calls.

ADTRAN Inc. (NASDAQ: ADTN) raised to Market Perform at Raymond James.

Beam Inc. (NYSE: BEAM) started as Hold at Stifel Nicolaus.

BlackBerry (NASDAQ: BBRY) maintained Underperform as the services outlook remains a concern according to Credit Suisse.

Diageo PLC (NYSE: DEO) started as Buy at Stifel Nicolaus.

DSW Inc. (NYSE: DSW) raised to Outperform with $73 price target at Credit Suisse.

Family Dollar Stores Inc. (NYSE: FDO) is in a tug of war as the dollar store was raised to Buy at Deutsche Bank but was downgraded to Neutral at Citigroup.

Jabil Circuit Inc. (NYSE: JBL) maintained Buy with $28 target at Argus.

Kohl’s Corp. (NYSE: KSS) cut to sell at Deutsche Bank.

LinkedIn Corp. (NYSE: LNKD) started as Sector Perform at RBC Capital Markets.

Lululemon Athletica Inc. (NASDAQ: LULU) maintained Hold but cut estimates at Argus, and lowered price target to $75 from $79 at Credit Suisse.

Micron Technology Inc. (NASDAQ: MU) reiterated Outperform and target price raised all the way up to $14 from $8 at Credit Suisse.

SLM Corp. (NASDAQ: SLM) reiterated Outperform and raised price target to $24 from $22 at Credit Suisse.

Yelp Inc. (NYSE: YELP) started as Sector Perform at RBC Capital Markets.

BofA/Merrill Lynch identified many top leveraged buyout candidates.

Jefferies has made a serious contrarian call by being bullish on select coal players.

Filed under: Active Trader, Analyst Calls, Value Investing Tagged: ADTN, BBRY, BEAM, DEO, DSW, FDO, JBL, KSS, LNKD, LULU, MU, SLM, Yelp

24/7 Wall St. Closing Bell — January 17, 2013: Markets Open Higher and Continue Climbing (VVUS, YUM, ADTN, GLW, MDT, EBAY, KMP, BAC, BLK, C, PNC, UNH, AXP, COF, GE, JCI, MS, COL, SLB, STI, CBS, KSWS, LEAP)

Paul Ausick — Thu, 17 Jan 2013 21:03:03 +0000

U.S. equity markets opened higher this morning following the report that new claims for unemployment benefits had fallen by 37,000 to a level not seen since 2008 (more coverage here). The government report on new housing starts also rose sharply in December, adding more fuel to a good start to the trading day (more coverage here). There was little data from both Europe and Asia, although Japan’s economy minister walked back his comments from yesterday regarding the yen’s value, causing the yen to fall again versus the U.S. dollar.

The U.S. dollar index fell 0.2% today, now at 79.651. The GSCI commodity index is up 0.2% at 653.31, with commodities prices mostly lower today. WTI crude oil closed up 1.3% today, at $95.49 a barrel on the strong U.S. economic data, among other things (more coverage here). Brent crude trades up 1.1% at $110.89 a barrel. Natural gas is up 1.5% today at about $3.49 per million BTUs after a sharper than expected drop in U.S. inventories (more coverage here). Gold settled up 0.5% today at $1,690.80 an ounce.

The unofficial closing bells put the DJIA up about 85 points to 13,596.09 (0.63%), the NASDAQ rose more than 18 points (0.59%) to 3,136.00, and the S&P 500 rose 0.56% or more than 8 points to 1,480.93.

There were a several analyst upgrades and downgrades today, including Vivus Inc. (NASDAQ: VVUS) cut to ‘sell’ at Brean; Yum! Brands Inc. (NYSE: YUM) cut to ‘hold’ at Argus; ADTRAN Inc. (NASDAQ: ADTN) cut to ‘sell’ at UBS and raised to ‘neutral’ at Citigroup; Corning Inc. (NYSE: GLW) cut to ‘sector perform’ at RBC; and Medtronic Inc. (NYSE: MDT) raised to ‘outperform’ with a $50 price target at Credit Suisse.

Earnings reports since markets closed last night resulted in several price moves today, including these: eBay Inc. (NASDAQ: EBAY) is up 2.6% at $54.28 after posting a new 52-week high of $54.88 earlier today (more coverage here); Kinder Morgan Energy Partners LP (NYSE: KMP) is up 0.3% at $88.18 (more coverage here); Bank of America Corp. (NYSE: BAC) is down 4.5% at $11.25 (more coverage here); BlackRock Inc. (NYSE: BLK) is up 4.5% at $232.29 after posting a new 52-week high of $234.46 earlier today; Citigroup Inc. (NYSE: C) is down 3.1% at $41.15 (more coverage here); PNC Financial Services Group Inc. (NYSE: PNC) is up 4.3% at $62.33; and UnitedHealth Group Inc. (NYSE: UNH) is up 1.3% at $54.38 (more coverage here).

Before markets open tomorrow morning we are scheduled to hear from American Express Co. (NYSE: AXP), Capital One Financial Corp. (NYSE: COF), General Electric Co. (NYSE: GE), Johnson Controls Inc. (NYSE: JCI), Morgan Stanley (NYSE: MS), Rockwell Collins Inc. (NYSE: COL), Schlumberger Ltd. (NYSE: SLB), and SunTrust Banks inc. (NYSE: STI).

Some standouts from today include the following stocks:

CBS Corp. (NYSE: CBS) is up 8.5% today at $41.18 after posting a new 52-week high of $42.55 earlier. The entertainment company will convert its outdoor advertising business to a REIT. Move coverage here.

K-Swiss Inc. (NASDAQ: KSWS) is up 47.7% at $4.71 after posting a new 52-week high of $4.73 earlier today. The athletic shoe maker is being acquired by a Korean firm for $170 million ($4.75 a share).

Leap Wireless International Inc. (NASDAQ: LEAP) is down 7.5% at $5.85. The wireless communications company was cut to ‘sell’ at Jefferies.

Stay tuned for Friday. We have noted the following event on the schedule (all times Eastern):

9:55 a.m. – University of Michigan/Thomson Reuters consumer sentiment index

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ADTN, AXP, BAC, BLK, C, CBS, COF, COL, EBAY, GE, GLW, JCI, KMP, KSWS, LEAP, MDT, MS, PNC, SLB, STI, UNH, VVUS, YUM

Top Analyst Upgrades and Downgrades (ADTN, ALKS, CBS, CSCO, GLW, DCI, ERJ, INCY, JNPR, MJN, MDT, REGN, SAP, LUV, VVUS, YUM, ZLTQ)

Jon C. Ogg — Thu, 17 Jan 2013 13:42:59 +0000

These are some of the top analyst upgrades, downgrades and initiations seen so far from Wall St. research calls this Thursday:

ADTRAN Inc. (NASDAQ: ADTN) cut to Sell at UBS but raised to Neutral at Citigroup.

Alkermes PLC (NASDAQ: ALKS) started as Neutral at Credit Suisse.

CBS Corp. (NYSE: CBS) raised to Outperform at Wedbush.

Cisco Systems Inc. (NASDAQ: CSCO) cut to Underweight at J.P. Morgan.

Corning Inc. (NYSE: GLW) cut to Sector Perform at RBC.

Donaldson Co. (NYSE: DCI) raised to Buy with $41 target at Bank of America/Merrill Lynch.

Embraer S.A. (NYSE: ERJ) cut to Underperform and named Bear of the Day at Zacks.

Incyte Corp. (NASDAQ: INCY) maintained Buy with $25 target but raised earnings estimates to breakeven in 2013 at Argus.

Juniper Networks Inc. (NYSE: JNPR) raised to Overweight at J.P. Morgan.

Mead Johnson Nutrition Co. (NYSE: MJN) cut to Neutral at J.P. Morgan.

Medtronic Inc. (NYSE: MDT) raised to Outperform with $50 target at Credit Suisse.

Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) cut to Hold at Brean.

SAP A.G. (NYSE: SAP) cut to Neutral at Citigroup.

Southwest Airlines Co. (NYSE: LUV) raised to Outperform and named as Bear of the Day at Zacks.

VIVUS Inc. (NASDAQ: VVUS) cut to Sell at Brean.

Yum! Brands Inc. (NYSE: YUM) cut to Hold at Argus.

Zeltiq Aesthetics (NASDAQ: ZLTQ) maintained Buy but cut target to $7.50 at Canaccord Genuity.

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: ADTN, ALKS, CBS, CSCO, DCI, ERJ, GLW, INCY, JNPR, LUV, MDT, MJN, REGN, SAP, VVUS, YUM, ZLTQ

Top Analyst Upgrades and Downgrades (ADTN, AIG, AAPL, CPB, CTRN, DNDN, DPS, EA, GIS, JCP, MMM, NOK, PM, RIMM, THC, VIAB, WYNN)

Jon C. Ogg — Fri, 11 Jan 2013 13:40:11 +0000

These are some of the top analyst upgrades, downgrades and initiations seen from Wall St. research firms this Friday.

ADTRAN Inc. (NASDAQ: ADTN) maintained Underperform but named Bear of the Day at Zacks.

American international Group Inc. (NYSE: AIG) started as Outperform at FBR.

Apple Inc. (NASDAQ: AAPL) saw its numbers modestly lowered on iPhone units, sales prices, margin and earnings, but maintained at Buy and a $750 target at Canaccord Genuity. Apple also made one of the top spots on the Morgan Stanley Best Ideas List.

Campbell Soup Co. (NYSE: CPB) maintained Buy but removed from Conviction Buy List at Goldman Sachs.

Citi Trends Inc. (NASDAQ: CTRN) raised to Outperform and named Bull of the Day at Zacks.

Dendreon Corp. (NASDAQ: DNDN) raised to Outperform at Bernstein.

Dr Pepper Snapple Group Inc.(NYSE: DPS) cut to Market Perform at Bernstein.

Electronic Arts Inc. (NASDAQ: EA) cut to Neutral at Piper Jaffray.

General Mills Inc. (NYSE: GIS) cut to Sell at Goldman Sachs.

J.C. Penney Co. Inc. (NYSE: JCP) cut to Sell at UBS.

3M Co. (NYSE: MMM) cut to Underweight at J.P. Morgan.

Nokia Corp. (NYSE: NOK) raised to Buy at Societe Generale and maintained Hold but raised target to $4 at Canaccord Genuity..

Phillip Morris International Inc. (NYSE: PM) raised to Conviction Buy List at Goldman Sachs.

Research In Motion Ltd. (NASDAQ: RIMM) cut to Underperform at BMO.

Tenet Healthcare Corp. (NYSE: THC) raised to Buy at BofA/Merrill Lynch.

Viacom Inc. (NASDAQ: VIAB) raised to Buy at Janney.

Wynn Resorts Ltd. (NASDAQ: WYNN) cut to Outperform at CLSA.

Here are six stock picks with the most upside from the 2013 Cantor Fitzgerald Conviction Buy List.

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AAPL, ADTN, AIG, CPB, CTRN, DNDN, DPS, EA, GIS, JCP, MMM, NOK, PM, RIMM, THC, VIA-B, WYNN

24/7 Wall St. Closing Bell — December 5, 2012: Markets Close Mixed on Tech Weakness (ADTN, KMP, CLF, INTC, RAX, MFRM, P, FRAN, MW, SAIC, VRA, LULU, SFD, TITN, FCX, MMR, PXP, NOK, CHL, TIBX)

Paul Ausick — Wed, 05 Dec 2012 21:02:49 +0000

U.S. equity markets opened essentially flat again this morning as investors waited to see what would happen with the many data releases due out today. In Europe, the non-manufacturing PMI numbers were mixed, with Germany and Spain better than expected while France and Italy were worse (more coverage here). Retail sales in the eurozone also came in significantly worse than expected. In Asia, the new leaders of China have said that they plan to invest more in infrastructure and to ease some investment rules (more coverage here). Some investors read this to mean more stimulus is coming. In the U.S., mortgage applications were up (more coverage here), and factory orders and non-manufacturing PMI also rose more than expected (more coverage here).

The U.S. dollar index rose today, now up 0.16% at 79.773. The GSCI commodity index is down 0.9% at 644.95, with commodities prices mostly higher today. WTI crude oil closed down 0.7% today, at $87.88 a barrel, following this week’s petroleum status report (more coverage here). Brent crude trades down 1% at $108.77 a barrel. Natural gas is up 4.4% today at about $3.69 per thousand cubic feet. Gold settled down 0.1% today at $1,693.80 an ounce.

The unofficial closing bells put the DJIA nearly 83 points to 13,034.45 (0.64%), the NASDAQ fell more than 23 points (-0.78%) to 2,973.31, and the S&P 500 rose 0.16% or more than 2 points to 1,409.27.

There were several analyst upgrades and downgrades today, including ADTRAN Inc. (NASDAQ: ADTN) cut to ‘sell’ at Citigroup; Kinder Morgan Energy Partners LP (NYSE: KMP) maintained as ‘outperform’ but estimates cut and target price lowered to $92 at Credit Suisse; Cliffs Natural Resources Inc. (NYSE: CLF) cut to ‘sector perform’ at RBC; Intel Corp. (NASDAQ: INTC) cut to ‘underperform’ at Raymond James; and Rackspace Hosting Inc. (NYSE: RAX) started as ‘overweight’ at J.P. Morgan.

Earnings reports since markets closed last night have resulted in several price changes for reporting companies as of the last half hour of trading today: Mattress Firm Holding Corp. (NASDAQ: MFRM) is down 20.8% at $24.00 (more coverage here); Pandora Media Inc. (NYSE: P) is down 18.2% at $7.73 (more coverage here); and Francesca’s Holdings Corp. (NASDAQ: FRAN) is up 0.7% at $26.99 (more coverage here).

Before markets open tomorrow morning we are scheduled to hear from Men’s Wearhouse Inc. (NYSE: MW), SAIC Inc. (NYSE: SAI), Vera Bradley Inc. (NASDAQ: VRA), Lululemon Athletica Inc. (NASDAQ: LULU), Smithfield Foods Inc. (NYSE: SFD) and Titan Machinery Inc. (NASDAQ: TITN).

Some standouts from today include the following stocks:

Freeport McMoRan Copper & Gold Inc. (NYSE: FCX) is down 16% at $32.17. The mining company has agreed to acquire both McMoRan Exploration and Production Co. (NYSE: MMR) and Plains Exploration & Production Co. (NYSE: PXP) for about $9 billion. Shares of McMoRan are up 87.7% at $XX and shares of Plains are up 23.8% at $44.65. More coverage here.

Nokia Corp. (NYSE: NOK) is up 11.8% at $3.85. The mobile phone maker continues to shine on its agreement with China Mobile Ltd. (NYSE: CHL).

TIBCO Software Inc. (NASDAQ: TIBX) is down 19% at $20.01 after posting a new 52-week low of $18.95 earlier today. The software infrastructure company warned on fourth-quarter earnings last night.

Stay tuned for Thursday. We have noted the following events on the schedule (all times Eastern):

7:30 a.m. – Challenger job-cut report
8:30 a.m. – New claims for unemployment benefits
10:30 a.m. – EIA weekly natural gas storage report
3:00 p.m. – Treasury STRIPS
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ADTN, CHL, CLF, FCX, FRAN, INTC, KMP, LULU, MFRM, MMR, MW, NOK, P, PXP, RAX, SAIC, SFD, TIBX, TITN, VRA

Top Analyst Upgrades and Downgrades (ADTN, ATI, AIG, BYD, CLF, G, HON, INTC, IBM, KMP, ONXX, P, RAX, RSG, SN, TIBX, TUP, UTX, PAY, WM, WWAV)

Jon C. Ogg — Wed, 05 Dec 2012 13:45:47 +0000

These are some of the top analyst upgrades, downgrades and initiations seen in Wall St. research calls this Wednesday.

ADTRAN Inc. (NASDAQ: ADTN) cut to Sell at Citigroup.

Allegheny Technologies Inc. (NYSE: ATI) named Bear of the Day at Zacks.

American International Group Inc. (NYSE: AIG) raised to Buy with $40 target at Argus.

Boyd Gaming Corp. (NYSE: BYD) started as Outperform with $7 target at Credit Suisse.

Cliffs Natural Resources Inc. (NYSE: CLF) cut to Sector Perform at RBC.

Genpact Ltd. (NYSE: G) started as Neutral at Goldman Sachs.

Honeywell International Inc. (NYSE: HON) started as Buy at Stifel Nicolaus.

Intel Corp. (NASDAQ: INTC) cut to Underperform at Raymond James.

International Business Machines Corp. (NYSE: IBM) reiterated Buy with $235 target at Argus.

Kinder Morgan Energy Partners L.P. (NYSE: KMP) maintained Outperform but cut estimates and target to $92 at Credit Suisse.

Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) named as Bull of the Day at Zacks.

Pandora Media Inc. (NYSE: P) maintained Neutral but cut target to $10 from $13 at Credit Suisse.

Rackspace Hosting Inc. (NYSE: RAX) started as Overweight at J.P. Morgan.

Republic Services Inc. (NYSE: RSG) raised to Conviction Buy List at Goldman Sachs.

Sanchez Energy Corp. (NYSE: SN) started as Sector Perform at RBC.

TIBCO Software Inc. (NASDAQ: TIBX) cut to Neutral at BofA/ML.

Tupperware Brands Corp. (NYSE: TUP) raised to Buy with $72 target at Argus.

United Technologies Corp. (NYSE: UTX) started as Neutral at Goldman Sachs.

VeriFone Systems Inc. (NYSE: PAY) raised to Buy at UBS.

Waste Management Inc. (NYSE: WM) raised to Buy at Goldman Sachs.

WhiteWave Foods Co. (NYSE: WWAV) started as Buy at SunTrust Robinson Humphrey, started as Overweight at J.P. Morgan and started as Outperform at CLSA.

Want to see 2013 S&P 500 targets? Here are the price targets for up to more than 20% total market upside with projections from everyone.

Here is a gold pairing trade from Jefferies for 2013.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: ADTN, AIG, ATI, BYD, CLF, G, HON, IBM, INTC, KMP, ONXX, P, PAY, RAX, RSG, SN, TIBX, TUP, UTX, WM, WWAV

24/7 Wall St. Closing Bell — October 17, 2012: Markets Don’t Move Much Today (C, CSCO, TWX, RYL, ADTN, BAC, CSX, IBM, INTC, URI, ABT, BK, BLK, CHKP, CMA, HAL, KCG, PEP, USB, AXP, EBAY, NE, STLD, BSX, DO, MS, NVR, PM, LUV, SVU, UNP, VZ, CYMI, APOL, FTNT)

Paul Ausick — Wed, 17 Oct 2012 20:05:59 +0000

The three major U.S. stock indexes opened lower this morning, and never really got untracked all day. Spanish 10-year bond yields fell 28 basis points to around 5.51%, while Spain again demurred on its need for a bailout (more coverage here). In Asia, markets followed Wall Street higher again today, and is waiting to see China’s GDP number due out tomorrow. In the U.S., housing starts rose sharply in September (more coverage here), while mortgage applications fell last week (more coverage here). Only the S&P 500, driven by financial stocks, was able to remain in positive territory throughout the day, although all three indexes ended up in positive territory at today’s close.

The U.S. dollar index fell today, now down 0.47% at 79.033. The GSCI commodity index is up fractionally at 664.24, with commodities prices mostly higher again today on the weaker dollar. WTI crude oil closed flat today, at $92.12 a barrel, following a larger-than-expected addition to the country’s commercial crude oil stocks (more coverage here). Brent crude trades down 0.77% at $113.12 a barrel. Natural gas is up 1% today at about $3.47 per thousand cubic feet. Gold closed at $1,753.00 an ounce, up 0.4% for the day.

The unofficial closing bells put the DJIA up about 5 points to 13,556.77 (0.04%), the NASDAQ rose about 3 points (0.10%) to 3,104.12, and the S&P 500 rose 0.41% or about 6 points to 1,460.90.

There were several analyst upgrades and downgrades today, including Citigroup Inc. (NYSE: C) raised to ‘outperform’ at CLSA and reiterated as ‘sell’ at Argus; Cisco Systems Inc. (NASDAQ: CSCO) cut to ‘hold’ at Cantor Fitzgerald; Time Warner Inc. (NYSE: TWX) started as ‘outperform’ with a target price of $50 at Credit Suisse; Ryland Group Inc. (NYSE: RYL) cut to ‘market perform’ at Raymond James; and ADTRAN Inc. (NASDAQ: ADTN) raised to ‘neutral’ at Goldman Sachs.

Earnings reports since markets closed last night resulted in some price moves today, including these as of the last half hour of trading: Bank of America Corp. (NYSE: BAC) is down 0.05% at $9.46 (more coverage here); CSX Corp. (NYSE: CSX) is down 1.5% at $21.30 (more coverage here); International Business Machines Corp. (NYSE: IBM) is down 5.1% at $200.33 (more coverage here); Intel Corp. (NASDAQ: INTC) is down 2.6% at $21.78 after posting a new 52-week low of $21.26 earlier today (more coverage here); United Rentals Inc. (NYSE: URI) is up 15.3% at $39.14; Abbott Laboratories (NYSE: ABT) is down 4.2% at $69.08 (more coverage here); Bank of New York Mellon Corp. (NYSE: BK) is up 5.7% at $24.90 after posting a new 52-week high of $24.97 earlier today; BlackRock Inc. (NYSE: BLK) is down 0.4% at $189.17; Check Point Software Technologies Inc. (NASDAQ: CHKP) is down 12.7% at $41.39 after posting a 52-week low of $40.92 earlier today; Comerica Inc. (NYSE: CMA) is down 2.6% at $30.25; Halliburton Co. (NYSE: HAL) is up 1.9% at $35.20 (more coverage here); Knight Capital Group Inc. (NYSE: KCG) is up 1.2% at $2.61; PepsiCo Inc. (NYSE: PEP) is down 0.4% at $70.00 (more coverage here); and U.S. Bancorp (NYSE: USB) is up 1.7% at $34.19 (more coverage here).

Before markets open tomorrow we are scheduled to hear from American Express Co. (NYSE: AXP), eBay Inc. (NASDAQ: EBAY), Noble Corp. (NYSE: NE), Select Comfort Corp. (NASDAQ: SCSS), Steel Dynamics Inc. (NASDAQ: STLD), Boston Scientific Corp. (NYSE: BSX), Diamond Offshore Drilling Inc. (NYSE: DO), KeyCorp (NYSE: KEY), Morgan Stanley (NYSE: MS), NVR Inc. (NYSE: NVR), Philip Morris International Inc. (NYSE: PM), Southwest Airlines Co. (NYSE: LUV), SUPERVALU Inc. (NYSE: SVU), Union Pacific Corp. (NYSE: UNP), and Verizon Communications Inc. (NYSE: VZ).

Some standouts from today include the following stocks:

Cymer Inc. (NASDAQ: CYMI) is up 49.9% at $71.70 after posting a new 52-week high of $77.07 earlier today. The semiconductor equipment maker is being acquired by Holland’s ASML for $2.5 billion, or $20 a share in cash and 1.15 shares of ASML stock for each Cymer share held.

Apollo Group Inc. (NASDAQ: APOL) is down 20.7% at $21.80 after posting a new 52-week low of $21.72 earlier today. The for-profit education provider reported weak results and more of the same to come. More coverage here.

Fortinet Inc. (NASDAQ: FTNT) is down 19.6% at $19.95. The Internet security company reported weak results and lowered its outlook. Other stocks in the sector are feeling the pain as well today. More coverage here.

Stay tuned for Thursday. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – New claims for unemployment benefits
10:00 a.m. – Philadelphia Fed survey
10:00 a.m. – Leading economic indicators
10:30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – 30-year Treasury Inflation-Protected Securities (TIPS) auction
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ABT, ADTN, APOL, AXP, BAC, BK, BLK, BSX, C, CHKP, CMA, CSCO, CSX, CYMI, DO, EBAY, FTNT, HAL, IBM, INTC, KCG, LUV, MS, NE, NVR, PEP, PM, RYL, STLD, SVU, TWX, UNP, URI, USB, VZ