Reuters: Two Bear Stearns hedge fund managers were acquited.
Reuters: Zucker, NBCU’s current CEO, will head the company when Comcast (NASDAQ:CMCSA) buys a majority of the company from GE (NYSE:GE).
Reuters: Dodd’s super-bank regulator fights a uphil battle in Congress.
Reuters: Fed officials see an uneven recovery. Read More
These are this morning’s top day trader alert stocks on unusual trading volume and price action. We have provided a link through to each stock at VSInvestor.com with more details on price and volume analysis.
American Capital Agency Corp. (NASDAQ: AGNC) is a top loser this morning in percentages after a secondary offering well below the closing price.
Baidu, Inc. (NASDAQ: BIDU) is getting crushed by almost 20%. It beat EPS targets but revenue was light and revenue guidance was light.
Ballard Power Systems Inc. (NASDAQ: BLDP) is down 8% after poor guidance.
Icagen, Inc. (NASDAQ: ICGN) is down 20%, half of its -40% last night, after dropping its asthma aspirations on poor study results.
Wynn Resorts Ltd. (NASDAQ: WYNN) is trading all over the place… +2% then -2.8% after earnings.
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Jon C. Ogg
Baidu (NASDAQ:BIDU), China’s No.1 search engine based on market share, had the same problem Google (NASDAQ:GOOG) does. Its revenue is not growing as fast as it was last year. The critical difference is that Internet use and the size of the Chinese population should be driving rapid improvements in Baidu’s sales, and they are not.
Baidu revenue in the third quarter of 2009 was $187.3 million, a 39.1% increase from the corresponding period in 2008. Net income in the third quarter of 2009 was $72.2 million, a 41.7% increase from the same period a year ago.
Going forward, the picture as not as good. Read More
Reuters: UBS (NYSE:UBS) will put in a new US chief.
Reuters: Goldman Sachs (NYSE:GS) says “dark pools” help investors.
Reuters: The US is welcoming the rise of the yuan.
Retuers: Nelson Peltz’s board seat at Legg Mason (NYSE:LM) may not signal change. Read More
While the markets have started to sell off by what feels almost as ’sharply,’ we have noticed late morning that a huge number 0f major technology stocks have hit 52-week highs on an intra-day basis. Traders used this is a chance to lock in gains. We have some added color on each below to see where these are coming from and where they were in the past. In fact, most of these are back to or above pre-Lehman levels…
Apple Inc. (NASDAQ: AAPL) is still positive and shares hit a new high of $186.79 today. This is the highest level since June-2008 and is still under the highs of January 2008 and December-2007 when Apple was north of $200.00.
Baidu, Inc. (NASDAQ: BIDU) is now down on the day and under $400.00 but the stock hit an intra-day high of $408.00.
Ciena Corp. (NASDAQ: CIEN) hit a new high of $16.63 and is now challenging levels not seen since August and September of last year.
Citrix Systems, Inc. (NASDAQ: CTXS) must be doing well with its Xen virtualization, GoToMeeting and GoToMyPC. Its shares are still up and it hit a new high of $37.95… highs not seen since February-2008.
eBay Inc. (NASDAQ: EBAY) seems to be carefree over the Skype suit. This hit a new high of $24.62 today, but keep in mind that this was a $40.00 stock two years ago.
Google Inc. (NASDAQ: GOOG) almost took out $500… The search leader stock is still in positive territory but it was up almost 2% this morning and hit $497.37… Two years ago this was north of $700.00 and we were all goo-goo eyed over whether $900 or $1,000.00 was a reality.
Juniper Networks, Inc. (NASDAQ: JNPR) hit $27.53 this morning and was up close to 2% at the time. That is up over 100% from year-lows and still well under the $30’s highs of two years ago.
Tellabs Inc. (NASDAQ: TLAB) is back under $7.00 now, but this one hit a high of $7.15 this morning. Two years ago, this was a $10.00-plus stock.
Western Digital Corp. (NYSE: WDC) is magically back up to $37.00, up a whopping 300% from the death-blow lows over the last year. This is now within striking distance of its early-2008 highs of $40.00 for one day in June-2008.
Traders are taking advantage of these highs now based on the notion that the future is still not going to be as robust the past and the expectations of growth in the past. Some of us might even say, they are finally taking advantage of the opportunity to lighten up after monumental gains.
JON C. OGG
comScore, the internet research firm, announced that more than 113 billion searches were made worldwide in July. That number is significant but even more astonishing is the 41% rise that the figure represents over the same month in 2008. Google, as expected, has about two-thirds of the global search market. China is now such a large internet market that its leading search company, Baidu (BIDU), had the fourth largest number of searches worldwide, only slightly less than Yahoo! (YHOO). Read More
Whether you like the earnings report from Google Inc. (NASDAQ: GOOG) or not, there are some key takeaways using the same metrics that Google uses for other Internet and online media stocks. Baidu, Inc. (NASDAQ: BIDU) has the most direct comparison, particularly as everyone calls Baidu “the Chinese equivalent of Google.” We won’t call it a knock-off, but we’ll leave it at that. Yahoo Inc. (NASDAQ: YHOO) is on deck with earnings next week, and the metrics there have many comparisons to Google. Then there isIAC/InterActiveCorp. (NASDAQ: IACI) further down the list with the Ask.com ties. On the standalone ad metrics, we would include ValueClick Inc. (NASDAQ: VCLK), and lastly we want to address the much much smaller Local.com Corp. (NASDAQ: LOCM). There are many other media and online companies, but we are looking for the direct pure-plays in this so we are not comparing apples to oranges or tennis balls.
Read More
These are the top big analyst calls from Wall Street we have seen very early this Friday morning with over two and a half hours until the market opens:
Baidu (BIDU) Started as Underweight with $244 target at HSBC.
Baxter (BAX) Started as Buy at BofA/Merrill Lynch.
Carnival (CCL) Raised to Outperform at Wachovia.
Hershey (HSY) was named as a Top Pick at Citigroup.
IBM (IBM) Started as Outperform at Cowen.
LDK Solar (LDK) Cut to Neutral at UBS.
Microsoft (MSFT) Added to Goldman Sachs Conviction Buy List.
SunPower Corp. (SPWRA) Raised to Buy at UBS.
Jon C. Ogg
June 19, 2009
These are the top analyst upgrades and positive research calls from Wall Street we have seen early this Wednesday morning with more than two hours until the market opens:
Apache (APA) Raised to Strong Buy at S&P.
Baidu (BIDU) Target Raised to $350 at Goldman Sachs.
BHP Billiton (BHP) Raised to Outperform at Macquarie.
Banco Santander (STD) Raised to Buy at BofA/Merrill.
Bank of New York Mellon (BK) Started as Buy at SunTrust Robinson Humphrey.
Central Garden (CENT) Raised to Buy at SunTrust Robinson Humphrey.
Invesco (IVZ) Raised to Strong Buy at S&P.
QUALCOMM (QCOM) Raised to Buy at Goldman Sachs.
Savient Pharmaceuticals (SVNT) Raised to Perform at Oppenheimer.
State Street (STT) Started as Buy at SunTrust Robinson Humphrey.
Texas Instruments (TXN) Raised to Buy at BofA/Merrill.
JON C. OGG
Reuters: Small businesses are having trouble finding financing.
Reuters: VW has stopped tie-up talks with Porsche.
Reuters: The US budget chief says there are signs the economic free fall is over.
Reuters: Central banks may need more power to maintain stability. Read More
Chinese online search leader Baidu, Inc. (NASDAQ: BIDU) has reported its quarterly earnings. Its earnings came in at $0.76 net EPS and posted $0.86 non-GAAP EPS on $118.6 million in revenue versus estimates from Thomson Reuters of $0.76 in non-GAAP EPS and $115.95 million in revenue.
Read More
This afternoon’s earnings report from Google Inc. (NASDAQ: GOOG) is perhaps one of the most anticipated earnings releases so far this earnings season for Q1-2009. Google could steer almost every tech and media company after the report as it is still one of Wall Street’s darlings. But the most correlated are likely to be Yahoo! Inc. (NASDAQ: YHOO), Baidu, Inc. (NASDAQ: BIDU) and more.
Read More
These are the top pre-market analyst upgrades and downgrades we have seen early this Tuesday morning with about two hours until the market opens
Baidu.com (NASDAQ: BIDU) Started as Buy at Deutsche Bank.
Cerner (NASDAQ: CERN) Cut to Hold at Auriga.
Cliffs Natural Resources (NYSE: CLF) Raised to Outperform at FBR.
Deere (NYSE: DE) Started as Buy at Jefferies.
eDiets (NASDAQ: DIET) Cut to Hold at Canaccord.
LDK Solar (NYSE: LDK) Cut to EqualWeight at Morgan Stanley.
Marvell Tech (NASDAQ: MRVL) Started as BUy at Deutsche Bank.
Microchip Tech (NASDAQ: MCHP) Raised to Overweight at Thomas Weisel.
Novo Nodisk (NYSE: NVO) Raised to Hold at Citigroup.
U-Sture-It Trust (NYSE: YSI) Raised to Outperform at Baird.
Jon C. Ogg
March 24, 2009
These are some of the top pre-market analyst upgrades and positive research calls we are seeing from Wall Street this Wednesday morning:
Jon C. Ogg
January 28, 2009
Baidu.com Inc. (NASDAQ: BIDU) may finally be catching another break after so much trouble. The Chinese internet search leader has been raised to the Conviction Buy List at Goldman Sachs this morning with a 6-month price target of $145.00. Its prior rating was a "neutral" rating, but the data may be more interesting than the call itself.
Pali Research slapped a dreaded Sell rating on Baidu.com (BIDU), saying short-to-mid-term uncertainties are much bigger than opportunities. The firm set a $90 price target on Baidu.com, which is 21% below Friday’s close of $114.
Analysts at Pali said Baidu.com’s business model has become very controversial and been challenged by advertisers, internet users and lawyers. They think the controversial situation is highly likely to lead to the birth of new regulations defining rules and standards for the search market in China. The analysts said new regulations would be negative to Baidu.
Baidu.com, Inc. (NASDAQ: BIDU) looks like a stock in trouble. Again. The Chinese search leader was hitting new 52-week lows before the market recovered late in the day. The exacerbated move is on the heels of last month’s reporting in China showing that many search results had been manipulated to favor advertisers.
According to Reuters, US car sales are expected to be down sharply for November.
Reuters reports that the global recession is hurting Asian factories.
Reuters reports that the GM (GM) board is reviewing the firm’s turnaround plan.
Reuters writes that credit card companies will cut available lines of credit by $2 trillion over the next 18 months.
Baidu.com, Inc. (NASDAQ: BIDU) looks like an analyst convention started on the steps to its corporate headquarters. The Chinese search giant did manage to score an upgrade, but it also took a downgrade and saw a price target slashed.
Baidu (BIDU) Looks like a little run-in with the Chinese government. Down to $130.51 from 52-week high of $418.22.
Avis Budget (CAR) Downgraded by Barclays on debt concerns. Off to $.88 from 52-week high of $18.
MetLife (MET) Concerns about capital crisis spreading to insurance companies. Hits $22.48 down from 52-week high of $67.21.
United Therapeutics (UTHR) Disappointing drug trial. Falls to $56.29 from 52-week high of $117.82.
Douglas A. McIntyre
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