Posts for Ticker ‘BAGL’

Top 10 Pre-Market Analyst Calls (SAM, CLWR, BAGL, JEF, MVSN, NSR, OWW, TS, WB, YRCW)

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

  • Boston Beer Co. (NYSE: SAM) cut to Neutral at HSBC Securities.
  • Clearwire (NASDAQ: CLWR) cut to Sell at Citigroup.
  • Einstein Noah (NASDAQ: BAGL) raised to Buy at Piper Jaffray.
  • Jefferies Group (NYSE: JEF) cut to Neutral at Wachovia.
  • Macrovision (NASDAQ: MVSN) cut to Hold at Deutsche Bank.
  • Neustar (NYSE: NSR) cut to Neutral at Credit Suisse.
  • Orbitz (NYSE: OWW) cut to Neutral at Piper Jaffray.
  • Tenaris (NYSE: TS) cut to Hold at Citigroup.
  • Wachovia (NYSE: WB) raised to Neutral at Credit Suisse.
  • YRC Worldwide (NASDAQ: YRCW) cut to Sell at Stifel Nicolaus.

Jon C. Ogg
May 8, 2008

Posted on: May 8, 2008 – 7:36 am in Analyst Calls, , , , , , , , , ,

Pre-Market Analyst calls (July 18, 2007)

ACI cut to Hold at Citigroup.
AKAM started as Outperform at FBR.
BAGL started as Outperform at Piper Jaffray.
BTU cut to Hold at Citigroup.
CPB raised to Outperform at Bernstein.
DAC started as Outperform at Credit Suisse.
DSX started as Outperform at Credit Suisse.
DVA cut to Hold at Deutsche Bank.
FBCM started as Buy at Jefferies.
FCL cut to Hold at Citigroup.
IMB cut to Equal Weight at Lehman.
INTC cut to Mkt Perform at JMP Securities.
KEYS cut to Hold at BB&T.
KEYS cut to Mkt Perform at Morgan Keegan.
KND cut to Underperform at Wachovia.
LDK started as Outperform at CIBC.
LLNW started as Hold at Jefferies.
LLNW started as Mkt Perform at Piper jaffray.
MBRX cut to Hold at Jefferies.
OSG started as Outperform at Credit Suisse.
PX started as Outperform at CIBC.
QMAR started as Outperform at Credit Suisse.
RE cut to Peer Perform at Bear Stearns.
RSG cut to Mkt Perform at FBR.
SNDK raised to Overweight at JPMorgan.
SNY raised to Overweight at HSBC.
SSW started as neutral at Credit Suisse.
TK started as neutral at Credit Suisse.
TNP started as Outperform at Credit Suisse.
TOT cut to Neutral at JP Morgan.
WLL raised to Buy at KeyBanc/McDonald.

Jon C. Ogg
July 18, 2007

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

Posted on: July 18, 2007 – 6:47 am in Analyst Calls, , , , , , , , , , , , , , , , , ,

TOP 7 ISSUES THIS WEEK (JUNE 8, 2007)

This Week’s Top Seven Issues (June 8, 2007)

1) THE ROLLER-COASTER MARKET
Thanks a lot Bill Gross.  You’re sounding more like Greenspan now that you have him on your advisory board at PIMCO.  Depending on how you look atthe sell-off, Gross either was an exacerbation or just noise.  The market recovered late Friday on rumors that US Steel (X) was in-play.  Technicians had an identity crisis because today should have needed a big gap down before the "Ah-Ha Epiphany."  If you are a bull, a chicken-bull, or a real bear, we came up with a revised list of stocks to look at depending on your flavor.

2) FOUR NEW TECH PICKS, LIKE YOU DIDN’T KNOW THEM
Cramer actually came out with a NEW FOUR HORSEMEN OF TECHNOLOGY, albeit this could have been done much sooner and Amazon.com (AMZN) was the only one that was a bit of a surprise.

3) MERGERS & PRESSURES 
Biomet (BMET) is done, deal accepted. Bye-bye.  TD AMERITRADE (AMTD) needs to tell S.A.C. & JANA Partners to take their shares and put them somewhere else.  The FTC is actually trying to stop Whole Foods (WFMI) from buying Wild Oats (OATS), amazingly enough a deal is under scrutiny.  Amgen (AMGN) tries diversifying via acquisition, but at what cost?

4) TWO BEST CULT STOCKS WITH MAJOR NEWS
CMGI, Inc. (CMGI) took a bit of a hammering this week after earnings.  If you believed it in it before earnings, then nothing has really changed and the glass may be more half-full than half-empty.  Dendreon (DNDN) priced its $75 million offering.  Since their back was against the wall and they really needed money, the terms that could have been much more expensive actually look like they got the cash for close to nothing.

5) KEY OFFERINGS
Limelight Networks (LLNW) came public, priced more share at a higher price, and still went up almost 50% on the debut date. Einstein Noah (BAGL)…it’s back, no more NWRG-PINKSHEET ticker  It wasn’t an IPO, but sort of a Re-PO.  This one will be interesting.  SIRIUS Satellite Radio (SIRI) received a $250 million term loan

6) OPEC CRIES WOLF
OPEC actually threatened that it would stop spending money for new technology and on exploration if we keep pushing for more and more biofuels.  Sounds to me like they are feeling pinched.  Oddly enough, ethanol names were looking horrible yesterday.

7) RETAIL IS SOFT, BUT SOME WINNERS
There were actually some winners in retail.  If Bed Bath & eyond (BBBY) had to stupe down to an earnings warning, you knew it was going to be a messy retail report since its buyers are supposed to be insulated from soft economics.

Have a great weekend!

Jon C. Ogg
June 8, 2007

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

Posted on: June 8, 2007 – 4:16 pm in Uncategorized, , , , , , , , , , , , , , ,

Einstein Noah Returns to NASDAQ With Shares Offering Effective (BAGL, NWRG)

last night, Einstein Noah Restaurant Group, Inc. today announced the pricing of a public offering of 5,000,000 shares of its common stock at $18.00 per share.  This is the old New World Restaurant Group that traded under the Pink Sheet ticker "NWRG" and the new ticker is "BAGL" on NASDAQ.

The proceeds arefor restructuring and for debt repayment.  Morgan Stanley and Cowen & Co. are acting as joint book-runners on the deal, with Piper Jaffray listed as co-manager.  This one has been in the works for some time, so it will be interesting to see the full outcome.

The $90 million sold was about $10 million short of original expectations per its filing.

The original terms were for 5 million shares at a $19.00 to $21.00 range.  Here is a full summary ahead of the offering.   Earlier this week the company showed an SEC filing where its May 2007 comparable store sales "for company-owned restaurants" increased 5.8% compared to May 2006.

Jon C. Ogg
June 8, 2007

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

Posted on: June 8, 2007 – 7:03 am in Food, IPOs, Secondary Offering, ,

Einstein Noah Coming Back As a Stock Next Week?

Stock Tickers: NWRG, BAGL, PNRA

New World Restaurant Group, Inc. (NWRG-PINKSHEET) is back to the old Einstein Noah Restaurant Group, Inc. name and will trade under the ticker "BAGL" on NASDAQ after this awaited securities sale next week.  As a reminder, all of these security sales are subject to change.  The company has had an active filing and as of today looks like the sale date is for a late-week offering assuming no changes are made.

Einstein as of now is selling 5 million shares at an estimated $19.00 to $21.00 range in what should amount a roughly $100 million stock offering.  This will get it back into NASDAQ compliance and off the deathly Pink Sheets where most investors fear to tread.  Shares closed today at $19.25, if you count a total of 1,870 shares as a real trade.

This is not a simple deal, so be sure to read what we are noting on this and be sure to read through the prospectus link on your own if you are interested in this offering.  Anyone with an "investor’s memory" may recall that the company never went under as far as an operation, but it was definitely an investor flame-out the first time around. We look for special situation investments such as back-door plays into IPO’s or recapitalizations, and this is truly a unique offering in that this one is a bit of both. 

The company also will have what should be some instant brokerage firm coverage after the offering as well because the joint book-runners are Morgan Stanley and Cowen & Co, and the co-manager is Piper Jaffray.  Based on the diluted share percentages and a mid-point price range, this one should have an implied market cap of roughly $313 million. 

Read More »

Posted on: June 1, 2007 – 3:59 pm in Food, IPOs, Restatements, Retail, Secondary Offering, Shareholder Issues, , ,

Einstein Bros. Back From the Pink Sheets (NWRG, BAGL, PNRA, SBUX)

Is it an IPO, a Recapitalization, a Secondary, or a PIPE? Truthfully, it is all of them and none of them.  It’s a Re-PO.

Maybe the restaurant chain didn’t die, but the stock might as well have until now.  New World Restaurant Group, Inc. (NWRG-PINKSHEET) is back to the old Einstein Noah Restaurant Group, Inc. name and will trade under the ticker "BAGL" on NASDAQ after this upcoming securities sale.  This has been in the works for some time via SEC filings (April 10 original filing date), but today the company set some terms for an offering.  Einstein is selling 5 million shares at an estimated $19.00 to $21.00 range in what should amount a roughly $100 million stock offering.  This will get it back into NASDAQ compliance and off the deathly Pink Sheets where most investors fear to tread.

This is not a simple deal, so be sure to read what we are noting on this and be sure to read through the prospectus link on your own if you are interested in this offering.  Anyone with an “investor’s memory” may recall that the company never went under as far as an operation, but it was definitely an investor flame-out the first time around. We look for special situation investments such as back-door plays into IPO’s or recapitalizations, and this is truly a unique offering in that this one is a bit of both. 

We will be posting more on this offering on Monday, so stay tuned.  This entire full note with more detail and analysis went out to our free email subscriber list.  If you wish to sign up for that list you can do so on the website yourself or you can send an email to jonogg@247wallst.com with your name and email and label it "Subscribe" in the title.

Further on in this we have identified the financials, the brokers who will cover it, the risks, the outlook, the financials, the growth plans, the ownership, control stakes, the debt and financial covenants, and more.  We will also be conducting some spot location reviews similar to what we did on Stabucks (SBUX-NASDAQ) in different geographic locations and noted a brief similarity to Panera Bread (PNRA-NASDAQ).  NWRG/BAGL is a far different entity than the others and will definitely not be the sort of stock for every single investor out there.

Have a great weekend.

Jon C. Ogg
May 18, 2007

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

Posted on: May 18, 2007 – 3:06 pm in Cult Stock, Food, IPOs, Secondary Offering, Shareholder Issues, , , ,