24/7 Wall St. » APOL

Capella Leads For-Profit Colleges’ Downturn (CPLA, APOL, DV, CECO, COCO, STRA, WPO)

Paul Ausick — Tue, 24 Apr 2012 16:02:32 +0000

The crackdown on financial aid to students at for-profit colleges has taken a toll on the revenues of these institutions over the past couple of years. But the restrictions on the way these schools recruit and admit new students may be the biggest problem the colleges face. Today’s earnings from Capella Education Co. (NASDAQ: CPLA) highlight the problem.

A quick check of seven of these for-profit schools shows that over the past five years only one is showing a profit: DeVry Inc. (NYSE: DV) is up 6.6% since April of 2007. For the same period, Apollo Group Inc. (NASDAQ: APOL) is down -29%, Career Education Corp. (NASDAQ: CECO) is down -77%, Corinthian Colleges Inc. (NASDAQ: COCO) is down -74%, Strayer Education Inc. (NASDAQ: STRA) is down -33%, and the Washington Post Co. (NYSE: WPO), owner of the Kaplan franchise, is down -50%.

Capella reported this morning that first quarter EPS came in at $0.82 on revenue of $109.4 million. The consensus estimates called for EPS of $0.78 on revenue of $110 million. In the same period last year Capella posted EPS of $0.90 on revenue of $111.35 million.

What hurt the company today is its enrollment forecast. Capella’s new student enrollments have fallen for six straight quarters, including a loss of -5% in the first quarter of 2012. The company’s CFO said in a conference call that Capella is “less optimistic” about enrollment growth throughout 2012, and that the company expects to see enrollment declines in “the high single-digit” range for the current quarter.

Contributing to the enrollment troubles at Capella and the others is recent legislation introduced into the US House of Representatives that would severely curtail the use of any federal money by the schools to advertise and market to potential students. The legislation would also apply to non-profit schools, but the impact would be greatest on the for-profits.

The legislation faces stiff opposition in both the House and the Senate and may well be defeated. That is not likely to not constrain future efforts to rein in the flow of federal dollars to for-profit schools.

Capella’s shares are down -9.6% at about noon today, at $31.12 in a 52-week range of $26.12-$54.86.

Paul Ausick

Filed under: Earnings Tagged: APOL, CECO, COCO, CPLA, DV, STRA, WPO

24/7 Wall St. Closing Bell (AMZN, APOL, HFC, LVS, VZ, MOS, RHT, SN, SHAW, BBY, MY, RIMM, FINL, PHM, CHTP, MM)

Paul Ausick — Thu, 29 Mar 2012 20:05:55 +0000

Markets opened lower this morning but fought back on the day. This morning’s report new unemployment benefits claims tamped down enthusiasm among investors (our coverage here). US natural gas inventories rose much more than expected (our coverage here) and a promise from the IEA to be ready with another release from national strategic oil reserves hit energy stocks hard (more coverage here). The US dollar index rose today, now up 0.08% at 79.186. Commodities were virtually all lower on the stronger dollar. WTI crude oil closed down about -2.5% at $102.78/barrel, and Brent crude trades down -1.51% at $122.28/barrel. Gold settled down -0.3% today, at $1,652.20/ounce.

The unofficial closing bells put the DJIA up nearly 20 points to 13,145.51, the NASDAQ fell by 9.6 points to 3,095.36, and the S&P 500 fell 2.29 to 1,403.26.

There were several analyst upgrades and downgrades today, including Amazon.com Inc. (NASDAQ: AMZN) started as ‘buy’ at ThinkEquity; Apollo Group Inc. (NASDAQ: APOL) cut to ‘hold’ at Argus; HollyFrontier Corp. (NYSE: HFC) cut to ‘neutral’ at Credit Suisse; Las Vegas Sands (NYSE: LVS) reiterated as ‘buy’ and price target raised to $65-$67 at BofA/ML; and Verizon Communications (NYSE: VZ) cut to ‘neutral’ at Baird.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Mosaic Co. (NYSE: MOS) is down -4.7% at $55.49; Red Hat Inc. (NYSE: RHT) is up 18.7% at $61.02 after posting a new 52-week high of $61.37 earlier today (more coverage here); Sanchez Energy Corp. (NYSE: SN) is down -2.5% at $22.01; Shaw Group Inc. (NYSE: SHAW) is up 3.9% at 32.05; and Best Buy Co. Inc. (NYSE: BBY) is down -6.6% at $24.86 (more coverage here). After markets close today China Ming Yang Power Group Ltd. (NYSE: MY), Research in Motion (NASDAQ: RIMM) (our coverage here), and Finish Line Inc. (NASDAQ: FINL) will report earnings.

Other standouts from today include the following stocks:

PulteGroup Inc. (NYSE: PHM) is down -2.5% at $9.24. The homebuilder was downgraded to ‘strong sell’ at S&P Capital IQ. More coverage here.

Chelsea Therapeutics International Ltd. (NASDAQ: CHTP) is down more than -28% at $2.63. The FDA rejected the company’s low blood pressure drug. More coverage here.

Millennial Media Inc. (NYSE: MM) concluded its IPO today at $24.74, up from the initial price of $13/share. Shares traded as high as $27.90 earlier in the day. More coverage of the recent IPO market here.

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

8:30 a.m. – Personal income and spending report
9:45 a.m. – Chicago purchasing managers’ index
9:55 a.m. – Reuters/University of Michigan consumer sentiment index

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMZN, APOL, BBY, CHTP, FINL, HFC, LVS, MM, MOS, MY, PHM, RHT, RIMM, SHAW, SN, VZ

Top Analyst Upgrades & Downgrades (ALU, AMZN, APOL, MT, T, CY, DK, EBAY, ESRX, GOOG, HFC, JNS, LVS, LOGI, JWN, POT, VZ, WPO, WFM, YHOO)

Administrator — Thu, 29 Mar 2012 12:23:23 +0000

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

Alcatel-Lucent S.A. (NYSE: ALU) Maintained Sell with $2.00 target at S&P.

Amazon.com, Inc. (NASDAQ: AMZN) Started as Buy at ThinkEquity.

Apollo Group Inc. (NASDAQ: APOL) Cut to Hold at Argus.

ArcelorMittal (NYSE: MT) Raised to Neutral at BNP Paribas.

AT&T Inc. (NYSE: T) Cut to Neutral at Baird.

Cypress Semiconductor Corporation (NASDAQ: CY) Raised to Buy at Lazard (late Wednesday call).

Delek US Holdings Inc. (NYSE: DK) Raised to Outperform at Credit Suisse; named as value stock of the day at Zacks.

eBay Inc. (NASDAQ: EBAY) Started as Buy at ThinkEquity.

Express Scripts Inc. (NASDAQ: ESRX) Reiterated Buy and raised target from $65 to $67 at BofA/ML.

Google Inc. (NASDAQ: GOOG) Started as Buy at ThinkEquity.

HollyFrontier Corporation (NYSE: HFC) Cut to Neutral at Credit Suisse.

Janus Capital Group, Inc. (NYSE: JNS) Cut to Hold at Jefferies.

Las Vegas Sands (NYSE: LVS) Reiterated Buy and raised target from $60 to $65 at BofA/ML.

Logitech International (NASDAQ: LOGI) named Bear of the Day at Zacks.

Nordstrom Inc. (NYSE: JWN) Raised to Buy at Goldman Sachs.

Potash Corp. of Saskatchewan (NYSE: POT) Started as Buy at Stifel Nicolaus.

Verizon Communications Inc. (NYSE: VZ) Cut to Neutral at Baird.

The Washington Post Co. (NYSE: WPO) named Bull of the Day at Zacks.

Whole Foods Market, Inc. (NASDAQ: WFM) Cut to Neutral at Goldman Sachs.

Yahoo! Inc. (NASDAQ: YHOO) Started as Hold at ThinkEquity.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: ALU, AMZN, APOL, CY, DK, EBAY, ESRX, GOOG, HFC, JNS, JWN, LOGI, LVS, MT, POT, T, VZ, WFM, WPO, YHOO

24/7 Wall St. Closing Bell (MU, ATVI, BAC, SCCO, APOL, GOL, WAG, LEN, CBK, SNX, FDO, MOS, ISTA, OPXT, OCLR, HOGS)

Paul Ausick — Tue, 27 Mar 2012 20:05:41 +0000

Markets opened slightly higher this morning but have been wobbling around the neutral line for the whole day. This morning’s report on the decline of housing prices (our coverage here) and the drop in US consumer confidence has kept buyers in check (our coverage here). There was little other news sufficient to move the markets today. The US dollar index rose today, now up 0.14% at 79.091. Commodities were mixed on the dollar strength, with wheat taking the biggest decline. WTI crude oil closed up 0.3% at $107.33/barrel, and Brent crude trades down -0.34% at $125.22/barrel. Gold settled down less than -0.1% today, at $1,684.90/ounce.

The unofficial closing bells put the DJIA down nearly 44 points to 13,197.96 (-0.33%), the NASDAQ fell more than 2 points (-0.07%) to 3,120.35, and the S&P 500 fell -0.28% or nearly 4 points to 1,412.52.

There were several analyst upgrades and downgrades today, including Micron Technology Inc. (NASDAQ: MU) started as ‘buy’ at Jefferies; Activision Blizzard Inc. (NASDAQ: ATVI) started as ‘buy’ at Stifel Nicolaus; Bank of America Corp. (NYSE: BAC) cut to ‘neutral’ at Baird; Southern Copper Corp. (NYSE: SCCO) raised to ‘overweight’ at Morgan Stanley; and Apollo Group Inc. (NASDAQ: APOL) cut to ‘neutral’ at Credit Suisse.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Apollo Group Inc. is down -8.6% at $39.48; Gol Linhas Aereas Inteligentes SA (NYSE: GOL) is up 2.7% at $7.32; Walgreen Co. (NYSE: WAG) is up 1.3% at $34.80; and Lennar Corp. (NYSE: LEN) is up 4.7% at $27.65 after posting a new 52-week high earlier today of $28.28 (more coverage here and here). After markets close today Christopher & Banks Corp. (NYSE: CBK) and Synnex Corp. (NYSE: SNX) will report earnings. Before the markets open in the morning, we’ll get earnings from Family Dollar Stores Inc. (NYSE: FDO) and the Mosaic Co. (NYSE: MOS).

Other standouts from today include the following stocks:

ISTA Pharmaceuticals Inc. (NASDAQ: ISTA) is up 7.9% at $9.04. The drug company is being acquired. More coverage here.

Opnext Inc. (NASDAQ: OPXT) is up more than 53% at $1.73. The optical equipment maker is merging with Oclaro Inc. (NASDAQ: OCLR). More coverage here.

Zhongpin Inc. (NASDAQ: HOGS) is up nearly 25% at $11.51. The Chinese food processing company has received a preliminary offer to be taken private. More coverage here.

Stay tuned for Wednesday. St. Louis Fed President James Bullard is giving a speech. We have also noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers’ Association purchase applications
8:30 a.m. – Durable goods orders
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 5-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: APOL, ATVI, BAC, CBK, FDO, GOL, HOGS, ISTA, LEN, MOS, MU, OCLR, OPXT, SCCO, SNX, WAG

Top Analyst Upgrades & Downgrades (ATVI, APOL, BAC, BWLD, DRQ, EA, KR, MU, SAIA, SNDK, SCCO, VALE)

Administrator — Tue, 27 Mar 2012 12:24:53 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Tuesday.

Activision Blizzard, Inc. (NASDAQ: ATVI) Started as Buy at Stifel Nicolaus.

Apollo Group Inc. (NASDAQ: APOL) Cut to Neutral at Credit Suisse.

Bank of America Corporation (NYSE: BAC) Cut to Neutral at Baird.

Buffalo Wild Wings Inc. (NASDAQ: BWLD) Cut to Hold at Deutsche Bank.

Dril-Quip, Inc. (NYSE: DRQ) named as Bear of the Day at Zacks.

Electronic Arts Inc. (NASDAQ: EA) Started as Buy at Stifel Nicolaus.

The Kroger Company (NYSE: KR) named Bull of the Day at Zacks.

Micron Technology Inc. (NYSE: MU) Started as Buy at Jefferies.

Saia Inc. (NASDAQ: SAIA) named as value stock of the day at Zacks.

SanDisk Corporation (NASDAQ: SNDK) started as Hold at Jefferies.

Southern Copper Corporation (NYSE: SCCO) Raised to Overweight at Morgan Stanley.

Vale S.A. (NYSE: VALE) Raised to Overweight at Morgan Stanley.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: APOL, ATVI, BAC, BWLD, DRQ, EA, KR, MU, SAIA, SCCO, SNDK, VALE

24/7 Wall St. Closing Bell (BHI, MU, SWY, TSLA, MTG, CALM, SARA, APOL, GOL, WAG, LEN, VRNM, SLB, AONE, AUDC, ARNA)

Paul Ausick — Mon, 26 Mar 2012 20:06:48 +0000

Markets opened about higher this morning following a flat close in Asia and a bit of enthusiasm in Europe following a manufacturing survey from Germany (our coverage here). Then Fed Chairman Ben Bernanke hinted that more stimulus might be on its way to help boost employment(our coverage here). By the last hour of trading the indexes were at or near their highest level of the day. The US dollar index fell today, now down -0.46% at 78.978. Commodities were generally higher on the dollar weakness, with the notable exception of corn. WTI crude oil closed up 0.2% at $107.03/barrel, and Brent crude trades up 0.44% at $125.68/barrel. Gold settled up 1.6% today, at $1,689.00/ounce.

The unofficial closing bells put the DJIA up more than 161 points to 13,241.93(1.23%), the NASDAQ rose nearly 55 points (1.78%) to 3,122.57, and the S&P 500 rose 1.39% or more than 19 points to 1,416.50.

There were several analyst upgrades and downgrades today, including Baker Hughes Inc. (NYSE: BHI) cut to ‘market perform’ at Wells Fargo; Micron Technology Inc. (NASDAQ: MU) cut to ‘perform’ at Oppenheimer; Safeway Inc. (NYSE: SWY) cut to ‘neutral’ at Credit Suisse; Tesla Motors Inc. (NASDAQ: TSLA) raised to ‘buy’ at Wunderlich; and Magic Investment Corp. (NYSE: MTG) started as ‘market perform’ at Keefe Bruyette Woods.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Cal-Maine Foods Inc. (NASDAQ: CALM) is down -5.7% at $39.58; and Saratoga Resources Inc. (AMEX: SARA) is up 6.9% at $7.43. After markets close today Apollo Group Inc. (NASDAQ: APOL) and Gol Linhas Aereas Inteligentes SA (NYSE: GOL) report earnings. Before the markets open in the morning, we’ll get earnings from Walgreen Co. (NYSE: WAG) and homebuilder Lennar Corp. (NYSE: LEN).

Other standouts from today include the following stocks:

Verenium Corp. (NASDAQ: VRNM) is up nearly 20% at $3.69 after posting a new 52-week high of $4.15 earlier today. The enzyme maker is selling some assets. More coverage here.

Schulumberger Ltd. (NYSE: SLB) is down -1.1% at $72.36. The oil field services giant warned on earnings. More coverage here.

A123 Systems Inc. (NASDAQ: AONE) is down about -13.4% at $1.47 after posting a new 52-week low of $1.45 earlier. The company will recall certain batteries for replacement. More coverage here.

AudioCodes Ltd. (NASDAQ: AUDC) is down -16.2% at $2.95. The network gear maker lowered its outlook. More coverage here.

Arena Pharmaceuticals Inc. (NASDAQ: ARNA) is up more than 24% at $2.99 after posting a new 52-week high of $3.19. The drug-maker has begun the process of getting a new drug to market in Europe. More coverage here.

Stay tuned for Tuesday. Federal Reserve Chairman Ben Bernanke and Boston Fed President Eric Rosengren are giving speeches. We have also noted the following events on the schedule (all times Eastern):

9:00 a.m. – S&P Case-Shiller housing price index
10:00 a.m. – Conference Board consumer confidence index
10:00 a.m. – Richmond Fed manufacturing index
11:30 a.m. – 4-week Treasury bill auction
2:00 p.m. – 2-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AONE, APOL, ARNA, AUDC, BHI, CALM, GOL, LEN, MTG, MU, SARA, SLB, SWY, TSLA, VRNM, WAG

Top Earnings Previews for the Week Ahead (APOL, GOL, LEN, PVH, WAG, CMC, FDO, MOS, PAYX, RHT, SN, TEA, BBY, PBY, RIMM)

Administrator — Fri, 23 Mar 2012 15:15:02 +0000

Earnings season is all but over and only the tail end of the quarterly and off-calendar reporting outfits are still reporting earnings. Still, the coming week does have several key earnings reports coming down the pipe.

We are offering previews and adding color if applicable on the following companies: Apollo Group Inc. (NASDAQ: APOL); GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL); Lennar Corporation (NYSE: LEN); PVH Corporation (NYSE: PVH); Walgreen Co. (NYSE: WAG); Commercial Metals Co. (NYSE: CMC); Family Dollar Stores Inc. (NYSE: FDO); The Mosaic Co. (NYSE: MOS); Paychex Inc. (NASDAQ: PAYX); Red Hat Inc. (NYSE: RHT); Sanchez Energy Corporation (NYSE: SN); Teavana Holdings Inc. (NYSE: TEA); Best Buy Co. Inc. (NYSE: BBY); Pep Boys-Manny Moe & Jack (NYSE: PBY); and Research In Motion Ltd. (NASDAQ: RIMM).

Monday , March 26

Apollo Group Inc. (NASDAQ: APOL): Thomson Reuters has estimates of $0.37 EPS and $932.8 million in revenues. Shares of the online university at around $42.50 and the 52-week range is $37.08 to $58.29.

GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL) is expected to report earnings of $0.07 EPS on a translated basis from Brazilian Reals for the Latin American airline outfit. A slowing Brazil story has not helped GOL out and at $7.50 the 52-week trading range is $5.03 to $14.35.

Tuesday, March 27

Lennar Corporation (NYSE: LEN) was soft after weaker than expected new home sales data for February, but the homebuilder is up over 100% from the lows of 2011. At $25.75, the 52-week range is $12.14 to $27.07. Thomson Reuters has estimates of $0.04 EPS and $699.4 million in revenues.

PVH Corporation (NYSE: PVH): Thomson Reuters has estimates of $1.09 EPS and $1.5 billion in revenues. Ay $88.40, shares are very close to the highs with its 52-week range of $51.15 to $90.64.

Walgreen Co. (NYSE: WAG) has not been a big performer of late and the $33.50 handle today compares to a 52-week range of $30.34 to $45.34. Thomson Reuters has estimates of $0.77 EPS and $18.56 billion in revenues.

Filed under: 24/7 Wall St. Wire, Calendar, Earnings, Economy, The Week Tagged: APOL, BBY, CMC, FDO, GOL, LEN, MOS, PAYX, PBY, PVH, RHT, RIMM, SN, TEA, WAG

24/7 Wall St. Closing Bell (CVX, WMB, YRCW, CVC, APOL, FSLR, VVUS, KOG, CZR, CEP, DRH, END, SPLS, JOY, SEMG, FORD, GEVO, QUAD, VOCS, SODA)

Paul Ausick — Wed, 29 Feb 2012 21:06:49 +0000

The three major US stock indexes opened higher this morning on the better-than-expected news on US GDP growth (our coverage here). The buying mood turning sour as the Nasdaq neared the 3,000 mark, a place it hasn’t visited in nearly 11 years. Fed Chairman Ben Bernanke’s comments did not include anything unexpected, except perhaps the lack of an affirmation that the Fed would continue its accommodative monetary policy (our coverage here). Crude oil was higher today, with WTI crude up 0.5% at $107.07/barrel and Brent crude up 1.22% at $123.03/barrel. Gold settled down -4.3% at $1,711.30, it’s lowest point in more than a month.

The unofficial closing bells put the DJIA down more than 53 points to 12,951.84(-0.41%), the NASDAQ fell nearly 20 points (-0.67%) to 2,966.89, and the S&P 500 fell -0.47% or about 6.5 points to 1,365.66.

There were several analyst upgrades and downgrades today, including Chevron Corp. (NYSE: CVX) raised to ‘buy’ at Deutsche Bank; Williams Companies Inc. (NYSE: WMB) raised to ‘Conviction Buy List’ at Goldman Sachs (more coverage here); YRC Worldwide Inc. (NASDAQ: YRCW) maintained as ‘underperform’ but target price cut from $15 to $6; Cablevision Systems Corp. (NYSE: CVC) cut to ‘neutral’ at Collins Stewart; and Apollo Group Inc. (NASDAQ: APOL) cut to ‘hold’ at Deutsche Bank.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: First Solar Inc. (NASDAQ: FSLR) is down -12% at $32 after posting a new 52-week low of $31.86 earlier today (more coverage here and here); Vivus Inc. (NASDAQ: VVUS) is up 6.5% at $22.65 (more coverage here); Kodiak Oil & Gas Corp. (NYSE: KOG) is down -6.2% at $9.70; Ceasar’s Entertainment Corp. (NASDAQ: CZR) is up 3.9% at $11.28; Constellation Energy Partners LLC (NYSE: CEP) is up up 6.6% at $2.73; DiamondRock Hospitality Co. (NYSE: DRH) is down -3.5% at $9.94; Endeavor International Corp. (NYSE: END) is down -9.7% at $11.54; Staples Inc. (NASDAQ: SPLS) is down -8.6% at $14.63 (more coverage here); Joy Global Inc. (NYSE: JOY) is down -5.6% at $86.65 (more coverage here); and SemGroup Corp. (NYSE: SEMG) is up 1.53% at $28.55.

Other standouts from today include the following stocks:

Forward Industries Inc. (NASDAQ: FORD) is up about 22% at $2.88. The protective case maker has signed a partnership deal for a waterproof iPad case, and is certainly rising on the prospect of a new iPad 3 announcement next week from Apple Inc. (NASDAQ: AAPL).

Gevo Inc. (NASDAQ: GEVO) is up more than 15% at $10.30. The biofuel maker reports earnings after markets close today. The run-up could have the same effect on the market following a weak report from Pacific Ethanol Inc. (NASDAQ: PEIX).

Quad Graphics Inc. (NYSE: QUAD) is up nearly 15% at $15.01. The printing company reported better-than-expected earnings this morning.

Vocus Inc. (NASDAQ: VOCS) is down about -40% at $13.50 after posting a new 52-week low of $13.10 earlier. The marketing and public relations software maker has acquired privately held iContact for $169 million in cash and stock.

SodaStream International Ltd. (NASDAQ: SODA) is down nearly -14% at $40.29. The beverage equipment maker reported what appear to be good earnings today. More coverage here.

Stay tuned for Thursday. Auto makers will be reporting February sales figures throughout the day. Federal Reserve chairman Ben Bernanke, Cleveland Fed president Sandra Pianalto, Fed governor Sarah Bloom Raskin, Atlanta Fed president Dennis Lockhart, and San Francisco Fed president John Williams are giving speeches. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – New US unemployment benefits claims

8:30 a.m. – US personal income and outlays report

10:00 a.m. – Institute for Supply Management manufacturing index

10:00 a.m. – Construction spending

10:30 a.m. – EIA weekly natural gas storage report

4:30 p.m. – Federal Reserve balance sheet and money supply

Your email address

terms and conditions

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: APOL, CEP, CVC, CVX, CZR, DRH, END, Ford, FSLR, GEVO, JOY, KOG, QUAD, SEMG, SODA, SPLS, VOCS, VVUS, WMB, YRCW

Top Analyst Upgrades & Downgrades (AMZN, APOL, CVC, CVX, CSTR, DFS, DPZ, PCS, VMI, WMB, YRCW)

Administrator — Wed, 29 Feb 2012 13:03:35 +0000

These are some of this Wednesday’s top analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

Amazon.com Inc. (NASDAQ: AMZN) cut to Underperform and named the Bear of the Day at Zacks.
Apollo Group Inc. (NASDAQ: APOL) Cut to Hold at Deutsche Bank.
Cablevision Systems Corporation (NYSE: CVC) Cut to Neutral at Collins Stewart.
Chevron Corporation (NYSE: CVX) Raised to Buy at Deutsche Bank.
Coinstar, Inc. (NASDAQ: CSTR) Cut to Neutral at JPMorgan.
Discover Financial Services (NYSE: DFS) Raised to Outperform as Bull of the Day at Zacks.
Domino’s Pizza Inc. (NYSE: DPZ) Cut to Neutral at JPMorgan.
MetroPCS Communications, Inc. (NYSE: PCS) Cut to Neutral at UBS; Started as Neutral at Nomura.
Valmont Industries, Inc. (NYSE: VMI) named as Value stock of the day at Zacks.
Williams Companies, Inc. (NYSE: WMB) Raised to Conviction Buy List at Goldman Sachs; Started as Overweight at Barclays.
YRC Worldwide. Inc. (NASDAQ: YRCW) maintained Underperform but cut target to $6 from $15 at Credit Suisse.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

Your email address

terms and conditions

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AMZN, APOL, CSTR, CVC, CVX, DFS, DPZ, PCS, VMI, WMB, YRCW

24/7 Wall St. Closing Bell (AAPL, NEM, DNDN, CHTR, APOL, COST, PCLN, HFC, AZO, CRZO, DPZ, ODP, SAFM, RDC, TECD, YRCW, ALIM, TBET, SUMR, PEIX, CECO)

Paul Ausick — Tue, 28 Feb 2012 21:14:49 +0000

Stocks started the day nearly flat before turning down on a poor report on US durable goods orders (more coverage here) and a slide in the Case-Shiller home price index (more coverage here). The Conference Board’s consumer confidence index came in much stronger than expected, however, and all the indexes had turned positive by mid-morning (more coverage here). The tech sector, led by Apple Inc. (NASDAQ: AAPL), which posted a new 52-week high over $543/share, carried the rest of the market higher. Crude oil was lower today, with WTI crude lower by -1.9% at $106.55/barrel and Brent crude down -1.92% at $121.79/barrel. Gold settled up 0.8% at $1,788.40/ounce, the yellow metal’s highest close since more than three months.

The unofficial closing bells put the DJIA up nearly 24 points to 13,005.12 (0.18%), the NASDAQ rose more than 20 points (0.69%) to 2,986.76, and the S&P 500 rose 0.34% or nearly 5 points to 1,372.18.

There were several analyst upgrades and downgrades today, including Newmont Mining Corp. (NYSE: NEM) cut to ‘hold’ at TD; Dendreon Corp. (NASDAQ: DNDN) maintained as ‘neutral’ but target price cut to $13 at Credit Suisse; Charter Communications (NASDAQ: CHTR) maintained as ‘outperform’ and target price raised from $60 to $74 at Credit Suisse; Apollo Group Inc. (NASDAQ: APOL) raised to ‘overweight’ at Barclays; and Costco Wholesale Corp. (NASDAQ: COST) started as ‘perform’ at Oppenheimer.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Priceline.com Inc. (NASDAQ: PCLN) is up nearly 7% at $632.78 after posting a new 52-week high of $637.88 earlier today (more coverage here); HollyFrontier Corp. (NYSE: HFC) is down -3.7% at $31.91 (more coverage here); Autozone Inc. (NYSE: AZO) is up 2.7% at $375.94 after posting a new 52-week high of $377.78; Carrizo Oil & Gas Inc. (NASDAQ: CRZO) is down -0.5% at $27.47; Domino’s Pizza Inc. (NYSE: DPZ) is up nearly 16% at $38.88 after posting a new 52-week high of $38.90 earlier today (more coverage here); Office Depot Inc. (NYSE: ODP) is up nearly 19% at $3.58; Sanderson Farms Inc. (NASDAQ: SAFM) is down -1.5% at $48.72; Rowan Companies Inc. (NYSE: RDC) is down -6% at $36.20; TechData Corp. (NASDAQ: TECD) is down -6.7% at $53.62; and YRC Worldwide Inc. (NASDAQ: YRCW) is down -13% at $10.31.

Other standouts from today include the following stocks:

Alimera Sciences Inc. (NASDAQ: ALIM) is up about 76% at $4.06. The eyecare drug maker received a positive outcome from a European regulatory body for its ILUVIEN treatment.

Tibet Pharmaceuticals Inc. (NASDAQ: TBET) is up 14% at $1.71. The drug maker is being taken private by its CEO and chairman for $3/share.

Summer Infant Inc. (NASDAQ: SUMR) is up nearly 25% at $5.98. The maker of branded juvenile products announced better than expected earnings this morning.

Pacific Ethanol Inc. (NASDAQ: PEIX) is down more than -26% at $1.19. The ethanol maker’s reported earnings fell short of expectations. More coverage here.

Career Education Corp. (NASDAQ: CECO) is down more than -18% at $9.17. The for-profit education company posted a weak earnings report this morning.

Stay tuned for Wednesday. Federal Reserve chairman Ben Bernanke, Dallas Fed president Richard Fisher, and Philadelphia Fed president Charles Plosser are giving speeches. We have noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications

8:30 a.m. – US GDP

9:45 a.m. – Chicago PMI

10:30 a.m. – EIA weekly petroleum status report

2:00 p.m. – Federal Reserve Beige Book

3:00 p.m. – Farm prices

Your email address

terms and conditions

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AAPL, ALIM, APOL, AZO, CECO, CHTR, COST, CRZO, DNDN, DPZ, HFC, NEM, ODP, PCLN, PEIX, RDC, SAFM, SUMR, TBET, TECD, YRCW