Posts for Ticker ‘BIG’

Top Analyst Downgrades (BMO, BIG, BMR, CTXS, HMY, MRO, ODP)

These are some of the top pre-market analyst downgrades and negative research calls we have seen from Wall Street firms early this Wednesday morning:

Bank of Montreal (BMO) Cut to Market Perform at CIBC.
Big Lots (BIG) Cut to Neutral at JPMorgan.
BioMed Realty (BMR) Cut to Neutral at UBS.
Citrix Systems(CTXS) Cut to Neutral at JPMorgan.
Harmony Gold (HMY) Cut to Neutral at UBS.
Marathon Oil (MRO) Cut to Equal Weight at Barclays.
Office Depot (ODP) Started as Underperform at Oppenheimer.

JON C. OGG

Posted on: May 27, 2009 – 7:03 am in Analyst Calls, , , , , , ,

Top Analyst Upgrades (BIG, COF, DFS, HPQ, JBLU, MS, MOT, TSN, USB)

These are the top analyst upgrades and positive calls we have seen from Wall Street this Wednesday morning:

  • Big Lots (BIG) Raised to Overweight at JPMorgan.
  • Capital One (COF) Raised to Buy at Stifel Nicolaus.
  • Discover Financial (DFS) Raised to Buy at Stifel Nicolaus.
  • Hewlett-Packard (HPQ) Raised to Buy at UBS.
  • Jetblue (JBLU) Raised to Buy at B of A Merrill.
  • Morgan Stanley (MS) Raised to Buy at Goldman Sachs.
  • Motorola (MOT) Raised to Outperform at Oppenheimer.
  • Tyson Foods (TSN) Raised to Neutral from Underweight at JPMorgan.
  • US Bancorp (USB) Raised to Neutral from Sell at Goldman Sachs.

JON C. OGG

Posted on: March 11, 2009 – 6:47 am in Analyst Calls, , , , , , , , ,

Top Analyst Upgrades (BIG, GLW, DRIV, DUK, KSS, MEOH, PFE, STP, TRV, WYE)

money-stack-image19These are the top pre-market analyst upgrades and positive calls we have seen from analysts this Tuesday morning:

  • Big Lots (BIG) Raised to Buy at Soleil.
  • Corning (GLW) Raised to Buy at Collins Stewart.
  • Digital River (DRIV) Raised to Buy at Deutsche Bank.
  • Duke Energy (DUK) Raised to Outperform at Credit Suisse.
  • Kohl’s (KSS) Raised to Buy at BofA Merrill.
  • Methanex (MEOH) Raised to Outperform at CIBC.
  • Pfizer (PFE) Raised to Buy at UBS.
  • Suntech Power (STP) Raised to Market Weight at Thomas Weisel.
  • Travelers (TRV) Started as Outperform at Oppenheimer.
  • Wyeth (WYE)  Raised to Buy at UBS.

JON C. OGG

Posted on: March 10, 2009 – 6:33 am in Analyst Calls, , , , , , , , , ,

BJ’s vs. Costco vs. Big Lots (BJ, COST, BIG)

money-stack-image9We have two entirely different reports this morning in the big box retail sector, and a wild card underdog winner.  BJ’s Wholesale Club Inc. (NYSE: BJ) reported better-than-expected results, while Costco Wholesale Corp. (NASDAQ: COST) did not.  The good news is some of the bad news was anticipated.  Big Lots Inc. (NYSE: BIG) may be a wild card.
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Posted on: March 4, 2009 – 9:16 am in Earnings, Retail, , ,

Top Pre-Market Analyst Upgrades (ADBE, ALXN, BIG, NSR, PFE, WYE)

These are some of the top pre-market analyst upgrades and positive calls we have seen this Monday morning:
Adobe Systems (ADBE) Raised to Outperform at Oppenheimer.
Alexion Pharmaceuticals (ALXN) Started as Outperform at Leerink Swann.
Big Lots (BIG) Raised to Buy at Soleil.
NeuStar (NSR) Raised to Hold at Jefferies.
Pfizer (PFE) Raised to Buy at UBS.
Wyeth (WYE) Raised to Buy at UBS.

Jon C. Ogg
February 9, 2009

Posted on: February 9, 2009 – 7:57 am in Analyst Calls, , , , , , , ,

Top 10 Pre-Market Analyst Calls (BIG, CSH, CS, ERIC, GT, MRVL, MMR, MNTA, NTRS, PCZ)

These are ten of the top analyst calls we see affecting shares in pre-market indications this Monday morning:

  • Big Lots (NYSE: BIG) Raised to Overweight from Neutral at JPMorgan.
  • Cash America (NYSE: CSH) Cut to Hold from Buy at Jefferies.
  • Credit Suisse (NYSE: CS) Raised to Peer Perform at Bear Stearns.
  • Ericsson (NASDAQ: ERIC) raised to Neutral from to Sell at Goldman Sachs; downgraded to Neutral from Buy at Banc of America.
  • Goodyear Tire & Rubber (NYSE: GT) cut to Neutral at JP Morgan.
  • Marvell Tech (NASDAQ: MRVL) raised to Outperform at FBR (stock indicated +2%).
  • McMoRan Exploration (NYSE: MMR) Cut to Hold from Buy at Jefferies.
  • Momenta Pharmaceuticals (NASDAQ: MNTA) Raised to Overweight at Morgan Stanley.
  • Northern Trust (NASDAQ: NTRS) Cut to Hold from Buy at Deutsche Bank.
  • Petro-Canada (NYSE: PCZ) raised to Outperform at CINC World Markets.

Jon C. Ogg
April 28, 2008

Posted on: April 28, 2008 – 6:33 am in Analyst Calls, , , , , , , , , ,

Big Lots Short Sellers Run for the Hills (BIG)

Big Lots Inc. (NYSE: BIG) has managed to beat lower and lower estimates this morning and its guidance for fiscal 2009 has sent the short sellers scrambling.  The discount retailer posted $0.93 EPS for ite quarter-end in January, above the First Call estimates of $0.84. Revenues came in at $1.41 Billion, in-line with expectations.  These numbers are lower than last year’s results on both sales and net earnings, but this one was essentially spring loaded to pop up on any news that wasn’t bad.

Big Lots issued first quarter upside guidance as well with an EPS range of $0.30-0.35, above the consensus estimate of $0.26 EPS.  The guidance targets set for its fiscal year Jan-2009 came in at 1.70 to $1.80 EPS before non-recurring items, which is well above First Call estimates of $1.53 EPS.  Last quarter those same targets were $1.59, so this is still better than the expected numbers from even then.

We noted in our earnings preview over the weekend that literally any good news would send that huge short interest running to cover shares.  The company had been plagued by less good news from last year that began turning into bad news gone worse.  If you think about it, maybe a slowing economy is driving more clients to its stores.  For 2008 it is even forecasting a 1% to 2% gain in its comparable store sales, so it looks like the company’s strategy might finally be paying off.  It’s even calling for slightly higher margins.

The company completed its prior $600 million share buyback and has completed $113 million of its new $150 million plan.  It disclosed that it has since completed the remaining balance there.

Right at the open shares are up 15% at $19.80, and the stock has traded in a range of $12.40 to $36.15 over the last 52-weeks.  It appears nothing lasts forever, not even the bad side of a slowing economy for a company that has been plagued by bad news.

Jon C. Ogg
March 5, 2008

Posted on: March 5, 2008 – 9:36 am in Earnings, Retail,

Short Sellers In Big Lots Ahead of Earnings (BIG)

On Wednesday morning we’ll get to see earnings out of Big Lots Inc. (NYSE: BIG). The estimates for the closeout retailer from First Call are $0.84 EPS on $1.41 billion in revenues.  Next quarter estimates are $0.26 EPS on $1.11 billion in revenues. Estimates for fiscal Jan-2009 are $1.53 EPS on $4.64 billion in revenues.

Its strategy change to add some slightly more upscale items couldn’t have come at a worse time when you consider that the discretionary income of its customers flew out the window of the 1978 station wagon. 

Analysts have an average price target of $18.00.  We’d also note that the short interest has grown to more than 24 million shares, which is almost 8-days worth of trading volume.             

Big Lots’ 52-week trading range is $12.40 to $36.15.  This is one we have been critical of for a while, although it appears that at least most of the damage to the stock may have been seen.  Either way, we think it will take a long time, a lot patience, and maybe even a miracle for this to not stay in the bottom third of ist 52-week trading range since it has already recovered sharply.

Despite our negativity, we’ll still be the first to admit that any "non-atrocious news" will probably create a minimum of a short covering rally.

Jon C. Ogg
March 1, 2008

Posted on: March 1, 2008 – 7:36 am in Earnings, Retail,

52-Week Low Club (December 28, 2007)

Some of these stocks hit 52-week lows and recovered off of lows so they won’t have a low close.  But these did all touch or breach the 52-week lows.  At the end we also broke out retail stocks, financial stocks, airlines & transports, and hotels.  A separate report could have been compiled for REIT’s as well, but many of those were left off because of room or volume. There were enough 52-week lows today that you might even wonder if there had been a mini-crash in the markets.  Here are the 52-week lows for December 28, 2007:

  • Advanced Micro Devices (NYSE: AMD)… imagine if the company got Hector Ruiz to leave.
  • American Greetings (NYSE: AM)…again.
  • AstraZeneca (NYSE:AZN)… new entrant.
  • Carmike Cinemas (NASDAQ:CKEC)
  • ChipMOS (NASDAQ:IMOS)
  • Corp. Office Property (NYSE: OFC)
  • Cryptologic (NASDAQ: CRYP)
  • Diebold (NYSE:DBD)
  • Fortune Brands (NYSE:FO)
  • Group 1 Auto (NYSE: GPI)
  • Infinera Corp. (NASDAQ: INFN)
  • Introgen (NASDAQ:INGN)
  • Japan Smaller Cap Fund (NYSE: JOF)
  • Lamar Advertising (NASDAQ: LAMR)
  • Legget & Platt (NYSE: LEG)
  • Martha Stewart (NYSE: MSO)
  • Marvell Tech (NASDAQ:MRVL)
  • Mattel (NYSE:MAT)
  • McClatchy (NYSE:MNI)
  • Micron Tech (NYSE:MU)
  • NGAS Resources (NASDAQ:NGAS)
  • Nortel Networks (NYSE:NT)
  • Owens Corning (NYSE:OC)
  • Omnicare (NYSE:OCR)
  • Prestige Brand (NYSE: PBH)
  • PC-Tel (NASDAQ:PCTI)
  • Ruth’s Chris (NASDAQ:RUTH)
  • SanDisk (NASDAQ: SNDK)
  • Theravance (NASDAQ:THRX)
  • Tractor Supply (NASDAQ:TSCO)
  • Wendy’s (NYSE: WEN)
  • World Fuel Services (NYSE:INT)
  • U-Store-It (NYSE:YSI)

Retail Stocks on 52-week lows: Ann Taylor (NYSE:ANN), Big Lots (NYSE:BIG), Borders Group (NYSE:BGP), Bon Ton Stores (NASDAQ:BONT), Chico’s FAS (NYSE:CHS), Finish Line (NASDAQ:FINL), Liz Claiborne (NYSE: LIZ), Macy’s (NYSE: M), Office Max (NYSE:OMX), Petsmart (NASDAQ:PETM), Stage Stores (NYSE:SSI)

Financial stocks on 52-week lows: Bear Stearns (NYSE: BSC), Citigroup (NYSE:C), Canseco (NYSE: CNO), Discover Financial (NYSE: DFS), Fifth Third Bancorp (NASDAQ:FITB), Fortress Investment (NYSE: FIG), MBIA Inc. (NYSE: MBI), Washington Mutual (NYSE:WM)… urgh!  When does it stop?

Airlines/Transports on 52-week lows:  Airtran Holdings (NYSE: AAI)…again.  Did they launch a Friends Die Free rewards plan?  Continental Airlines (NYSE:CAL), Fedex (NYSE:FDX), Mesa Air (NASDAQ:MESA), Northwest Airlines (NYSE: NWA)… near $100 oil is a real pain.

Hotels Hitting 52-week lows: Host Hotels (NYSE: HST), Lasalle Hotel (NYSE: LHO), Starwood Hotels (NYSE:HOT), Sunstone Hotel (NYSE: SHO), Wydham Worldwide (NYSE:WYN).  Maybe these all wish they could get the private equity buyers back in the sector.  If only they could still borrow.

These CEO’s new year’s resolutions are all the same: "In 2008 I want to keep my stock off the 52-week low lists."

Jon C. Ogg
December 28, 2007

Posted on: December 28, 2007 – 3:01 pm in HI/LOW, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

52-Week Low Club (AAI, ANN, AM, BIG, BJRI, CHS, CC, LIZ, M, OMX, MSO, RL, HOT, WM, WEN, ZLC)

Today’s list of 52-week lows was still dominated by retail and consumer spending stocks, although a surprise surge from several key semiconductor names made today’s list.  Some of these did end up recovering back above their respective 52-week lows.  Here’s your list for today:

  • Airtran (AAI)…down from a $13.09 high.  $95+ Oil is a pain. Stock broke significant support at $8.00 two weeks ago so it’s in no-man’s land.
  • Ann Taylor (ANN)… Is the growth story gone? If so and IF it can hit its earnings estimates then it is a hidden value stock.  But with women spending less on clothes over the holidays it may just be a value trap.
  • American Greeting (AM)… I started complaining about the cost of greeting cards LONG BEFORE the economy softened, and I’m not alone.
  • Big Lots (BIG)…again…should say "habitual offender" on it.
  • BJ’s Restaurants (BJRI)…cool brewpub, although still expensive on earnings measurement.
  • Chico’s FAS (CHS)…again.
  • Circuit City (CC)…needs to fire that CEO immediately.
  • Liz Claiborne (LIZ)…again.
  • Macy’s (M)….again.
  • Marvell Tech (MRVL).. see chip stocks on 52-week lows.
  • Martha Stewart Living (MSO)… Is it changing its name to "DYING"? Maybe a weak ad environment and magazine environment is even worse than we thought?
  • Micron Tech (MU) turnaround still can’t turn around… see chip stocks on 52-week lows.
  • Office Max (OMX)…again.
  • Ralph Lauren Polo (RL)…recovered above that 52-week low but this was a surprise to see even in a weak consumer. Stock is now over $40.00 under highs.
  • Sandisk (SNDK).. see chip stocks in 52-week lows.
  • Starwood Hotels (HOT)… givin’ all the inheritance away may not keep young Paris happy.
  • STMicro (STM)…see chip stocks on 52-week lows.
  • Washington Mutual (WM)… when WA-MU changes its name to UH-OH!
  • Wendy’s International (WEN)… just an expensive burger chain with a "hoped for buyout" allowing a premium, otherwise would be even lower.
  • Zale Corp. (ZLC)….. I didn’t get my wife diamonds for Christmas either.

All these CEO’s have a fairly easy new year’s resolution for 2008: "I want to keep my stock from hitting 52-week lows"…….

Jon C. Ogg
December 27, 2007

Posted on: December 27, 2007 – 4:01 pm in HI/LOW, , , , , , , , , , , , , , , ,

52-Week Low Club (BIG, BONT, CHS, M, OMX, SSI, HOT, ZLC, RT, F, WM, BSC)

We didn’t include only retail names on the 52-week lows today, but it could have been easy to do.  The retail scene just didn’t do too hot over Christmas and these are pying the price.  The good news is that many of these names bounced back above their 52-week lows.

Here are the retail names alone:

  • Big Lots (NYSE: BIG) still slurping.
  • Bon Ton Stores (NASDAQ:BONT)
  • Chico’s FAS (NYSE: CHS)
  • Macy’s (NYSE: M)
  • Office Max (NYSE: OMX)
  • Stage Stores (NYSE:SSI)
  • Starwood Hotels (NYSE: HOT)
  • Zale’s (NYSE: ZLC)

Ford (NYSE: F) merely touched on its 52-week lows but didn’t put in any new 52-week lows.  Maybe this one isn’t quite retail, but it sure reflects a weak consumer. 

Ruby Tuesday (NYSE:RT) is in the same boat as it isn’t a retail store but is consumer discretionary (and the food is nothing special).

A couple surprise financial names are on today’s list, although maybe it isn’t that large of a surprise.  Bear Stearns (NYSE: BSC) didn’t stay that low, but it was looking dismal this morning.  Washington Mutual (NYSE:WM) also didn’t stay that low but this morning was looking a bit harsh for WA-MU.

Jon C. Ogg
December 26, 2007

Posted on: December 26, 2007 – 2:18 pm in HI/LOW, Retail, , , , , , , , , , , ,

Cost Plus, Pier 1, & Tuesday Morning Different Paths (CPWM, PIR, TUES, BIG, SHLD)

When we see a blow-up at Tuesday Morning (NASDAQ:TUES) to the tune of this much, we look at other stores.  The truth is that Tuesday Morning is still a clearance center stock like a Big Lots (NYSE:BIG), although we have noted when we said Big Lots Chart Uglier Than Its Stores that Big Lots is on the lower-end of that quality spectrum.  Big Lots shares are down almost 3% at $16.30 at a new 52-week low in sympathy, although the drop in Tuesday Morning (NASDAQ:TUES) is now over 25% to $4.76 and well under its 52-week trading range of $6.44 to $18.50.
But there are two retail stores that are trading better today. Pier 1 Imports (NYSE: PIR) is seeing shares up some 16% at $3.82 today after competitor Cost Plus (NASDAQ: CPWM) made two consecutive runs.  Shares of Cost Plus Inc. (NASDAQ: CPWM) were just covered by us pre-market Monday in our "10 Stocks Under $10" that we noted favorably.  It isn’t just that we trust the guidance and management saying they are still trying to turn this around and it isn’t that we feel the company will have no exposure to its credit card portfolio.  It is that this trades at enough of a discount to its tangible book value that we feel this stock could continue its recovery.  We were going to list this as one of our turnaround stocks that hasn’t turned around, but it has run more than 20% since Friday’s close.  Maybe this will keep running and maybe it won’t from our $4.39 closing price Friday (although the lowest it traded during market hours on Monday was really $4.41 at the open and it closed at $5.10). This is not without risk and it has traded this far under $10 for a deserving reason.  We’d wait after the big pop of the last two days, but the worst part of the business may be behind it.

Jon C. Ogg
December 18, 2007

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

Posted on: December 18, 2007 – 3:31 pm in Earnings, Retail, , , , ,

52-Week Low Club I (AMD, BIG, DRIV, FRPT, HOTT, SOLD)

Below is the first batch of 52-week lows today:

  • Advanced Micro Devices (NYSE:AMD) hits the 52-week lows.  I guess Dell being weak and them losing their position there isn’t pleasing anyone.  Maybe they get another stake taken from the Middle East.  Maybe not.  This one is now eligible for coverage in our "10 Stocks Under $10" Newsletter, although unless the company has a split personality it’s hard to be positive here. $9.72 close…under the $9.80 new low.
  • Big Lots (NYSE:BIG)…down 8% to $18.67, under the $19.17 prior 52-week low.  It beat earnings but a lowered guidance makes this the story of "The Good, The Bad, & The Fugly"… remember our own "Big Lots Stock Uglier Than Its Stores" call? We took some heat for being insulting, but it wasn’t as insulting as the stores themselves.  They don’t sell iPods, but i-Nots are over the place.
  • Digital River (NASDAQ:DRIV) fell 3.3% to $38.67, under the $39.01 lows and down from $60.99 highs. A BenQ contract win didn’t help. 
  • Force Protection (NASDAQ:FRPT) down big today by 27% to 410.81. Apparently the Marines are slowing spending on mine-resistant trucks, and that kills this stock.
  • Hot Topic (NASDAQ:HOTT) down 3% to $6.31 versus $6.37 prior 52-week lows.  Nothing hot here.
  • Housevalues (NASDAQ:SOLD)…. apparently the housing woes aren’t ending there, even if housing and lending is seeing severe short covering.

Jon C. Ogg
November 30, 2007

Posted on: November 30, 2007 – 4:32 pm in HI/LOW, , , , , ,

Top NYSE Short Interest Increases (CVS, AMD, HD, MU, WMT, MIR, BIG)

It is always interesting seeing which groups and which stocks saw the biggest changes in short interest.  This list doesn’t show financials because we’ve already shown that individually.  Here are some of the largest key short interest INCREASES from October 31 to November 15:

Stock (Ticker)                    NOV 15            OCT 31           Change
CVS Caremark(CVS)     67,661,461     37,871,140     29,790,321
Advanced Micro (AMD)   68,231,116     67,071,442     1,159,674
Home Depot (HD)          62,955,046     57,367,957     5,587,089
Micron Technol (MU)      58,664,775     51,730,612     6,934,163
Wal-Mart Stores (WMT)  51,603,102     44,236,637     7,366,465
Mirant Corp (MIR)            50,241,294     23,796,710     26,444,584
Big Lots Inc (BIG)            34,616,813     28,812,272     5,804,541   

Jon C. Ogg
November 23, 2007

Posted on: November 23, 2007 – 8:36 am in Short Interest, , , , , , ,

Big Lots Stock Uglier Than Its Stores (BIG, TUES, WMT)

Shares of discount retailer Big Lots (NYSE:BIG) are seeing shares get hit pretty hard in a crummy discretionary spending environment.  The 2.1% drop to $19.98 is under the $20.21 52-week low, and that is actually getting close to a "cut in half" from that $36.15 high just back in May.

When this appeared on this list, it was almost sort of a snicker with "gee, no wonder" response.  Big Lots finds itself in a strange retail spot.  It isn’t Wal-Mart, but it competes for the same dollars from much of the same customers.  It isn’t a dollar-store, although it competes for those same dollars.  It’s really a hodge podge store that buys clearance or maybe close-outs in bulk, but there store merchandise changes and isn’t really static.  It’s basically like a Tuesday Morning, but messier and less organized and full of the stuff Tuesday Morning wouldn’t want to stock. 

I researched this one before for a Wal-Mart comparison before a planned CNBC visit.  It isn’t even in that league, and frankly it’s need to exist is something to consider.  The good news is that it does have customers who still go there looking for deals, even if they don’t always know what they are going to look for.  It’s also quite profitable and is expected by all to remain that way.  It’s even expected to see some growth in 2008 and a low P/E ratio of under 15 won’t scare anyone away.  So my personal opinion about the place is immaterial, although if a company could use some store re-habs it is Big Lots.

Stocks hitting 52-week lows do so for a reason.  It noted last week that its same store sales were down 0.5% for October, but total sales were down 1.6% year over year.  The company posts its earnings on Friday, November 20, 2007, so it is hard to imagine any miraculous recovery here before then.  At least not on its own.

Jon C. Ogg
November 16, 2007

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

Posted on: November 16, 2007 – 1:33 pm in HI/LOW, Retail, , ,