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Media Digest (1/10/2011) Reuters, WSJ, NYT, FT, Bloomberg

247wallst — Tue, 10 Jan 2012 11:52:23 +0000

Olympus sues its CEO and former board members for $50 million in compensation, and shares rise. (Reuters)

China’s trade growth hits a two-year low in December. (Reuters)

Philips warns of Q4 weakness because of trouble in Europe. (Reuters)

The SEC wants banks to disclose more about eurozone debt on their balance sheets. (Reuters)

Microsoft’s (NASDAQ: MSFT) Xbox sales are strong during the holidays. (Reuters)

Raymond James (NYSE: RJF) may buy Morgan Keegan. (Reuters)

Brocade (NASDAQ: BRCD) receives buyout bids. (Reuters)

The number of corporations with tax-free status rises. (WSJ)

Germany’s debt yield turns negative. (WSJ)

Bank of America (NYSE: BAC) will sharply cut its staff in Asia this quarter. (WSJ)

Sony (NYSE: SNE) will launch a “Crystal LED” TV that has better picture quality. (WSJ)

Intel (NASDAQ: INTC) offers details of its ultrabook plans. (WSJ)

The Fed says consumer borrowing rose in November, perhaps a sign that Americans are willing to take on debt again. (WSJ)

The Centers for Medicare and Medicaid Services say health care spending rose only 3.9% in 2010. (WSJ)

The White House sets up a formal group to monitor China’s trade policies. (WSJ)

Germany and France say that if Greece cannot set terms with private owners of its debt, it will not receive aid. (WSJ)

Hostess Brands to file for Chapter 11. (WSJ)

BMW and Audi will increase the number of models they sell in the U.S. (WSJ)

Volkswagen cancels its buyout of Porsche. (WSJ)

Nordstrom (NYSE: JWN) lowers the price at which people get purchase rewards. (WSJ)

Apple’s (NASDAQ: AAPL) CEO makes $378 million in 2010. (WSJ)

Nokia (NYSE: NOK) will count on the U.S. market for a large part of its potential resurrection. (WSJ)

The number of alternative fuel cars on display at the Detroit Auto Show rises sharply. (NYT)

Unicredit has trouble raising money even at high yields; other European banks may face similar problems. (NYT)

The U.S. increases the tempo of its investigations into MF Global. (NYT)

China’s exports grow, but import data is tepid. (NYT)

More smart TVs will be operated by voice recognition. (FT)

Renault and Nissan to boost U.S. production and make cuts in Europe. (FT)

Deutsche Telekom and Groupon (NASDAQ: GRPN) to set a joint venture for mobile platforms. (FT Germany)

Some Wall St. companies may freeze pay. (Bloomberg)

A slowing of China’s imports underscores concerns about a global slowdown. (Bloomberg)

Douglas A. McIntyre

Filed under: Press Digest Tagged: AAPL, BAC, BRCD, GRPN, INTC, MSFT, NOK, RJF, SNE

Rumor Mill Moves Back To Brocade (BRCD, DELL, HPQ, IBM, CVLT, CSCO)

Administrator — Mon, 09 Jan 2012 18:16:07 +0000

Brocade Communications Systems, Inc. (NASDAQ: BRCD) is running higher on buyout speculation. The move is only about 18 months too late if it is even true. Reuters reported that Brocade has hired Frank Quattrone’s outfit called Qatalyst Partners in November to explore alternatives and that it has several first rounds of interest. The report is of course one of the “people familiar with the situation” and these have a very spotty history between rumor and truth.

If Brocade is in play, investors may want to consider that CommVault Systems, Inc. (NASDAQ: CVLT) might be another candidate. As far as who the buyers would be or could be, Hewlett-Packard Co. (NYSE: HPQ) and Dell Inc. (NASDAQ: DELL) were two such names speculated in the past. Perhaps International Business Machines Corporation (NYSE: IBM) could be another.

The aim and value is that Brocade is often “The Poor Man’s Version” of Cisco Systems, Inc. (NASDAQ: CSCO). With Cisco now going after the data center revenue segment, many of these and other technology outfits could be buyers.

For now, just count this as a rumor. Brocade shares hit the 10% limit halt for a circuit breaker and shares are currently up 8.7% at $5.89. CommVault shares are up 1.2% at $45.97 on the day.

JON C. OGG

Filed under: Mergers and Buy Outs, Rumors, Technology Companies Tagged: BRCD, CSCO, CVLT, DELL, HPQ, IBM

Top Analyst Upgrades & Downgrades (AEM, AVL, BRCD, CSTR, EV, ERTS, FINL, GILD, GOOG, GDOT, MRH, RIMM, SLXP, WEN, WYNN)

Administrator — Mon, 28 Nov 2011 13:21:05 +0000

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

Agnico-Eagle Mines Ltd. (NYSE: AEM) Cut to Hold at Canaccord Genuity.
Avalon Rare Metals Inc. (AMEX: AVL) Started as Buy at Citigroup.
Brocade Communications Systems Inc. (NASDAQ: BRCD) Reiterated Hold at Argus.
Coinstar, Inc. (NASDAQ: CSTR) Raised to Overweight at JPMorgan.
Eaton Vance Corporation (NYSE: EV) Cut to Underperform at Credit Suisse.
Electronic Arts Inc. (NASDAQ: ERTS) Raised to Buy at Citigroup.
The Finish Line, Inc. (NASDAQ: FINL) named Value stock of the day at Zacks.
Gilead Sciences Inc. (NASDAQ: GILD) Raised to Conviction Buy List at Goldman Sachs.
Google Inc. (NASDAQ: GOOG) Raised to Buy at Citigroup.
Green Dot Corporation (NYSE: GDOT) Started as Outperform at KBW.
Montpelier Re Holdings (NYSE: MRH) named as Bear of the Day at Zacks.
Research in Motion Ltd. (NASDAQ: RIMM) Cut to Neutral at Stern Agee.
Salix Pharmaceuticals (NASDAQ: SLXP) named as Bull of the Day at Zacks.
The Wendy’s Co. (NYSE: WEN) Reiterated Hold at Argus.
Wynn Resorts Ltd. (NASDAQ: WYNN) Raised to Buy at KeyBanc.

JON C. OGG

Filed under: Analyst Calls Tagged: AEM, AVL, BRCD, CSTR, ERTS, EV, FINL, GDOT, GILD, GOOG, MRH, RIMM, SLXP, WEN, WYNN

24/7 Wall St. Closing Bell (MSFT, GILD, NFLX, AMGN, WYNN, CREE, LDK, CPB, HRL, STP, BRCD, FRO, ALU, GRPN, FMCN, ROYL)

Paul Ausick — Tue, 22 Nov 2011 21:06:52 +0000

Stocks opened a bit lower this morning, but almost immediately turned around without being able to break through the opening numbers. Revised third-quarter US GDP numbers were worse than expected, falling to a revised growth rate of 2%, compared with estimates that the growth rate would remain flat at 2.5%. Commodities, gold, and oil all rose in the morning, but by afternoon sentiment had shifted toward the negative. Gold is down slightly to $1,675.40, and crude oil is up slightly to $97.71/barrel. Even references to more easing from the Federal Reserve’s Open Market Committee when it released the minutes of its last meeting didn’t move markets much one way or the other.

The unofficial closing bells put the DJIA down more than 53 points to 11,493.88 (-0.46%), the NASDAQ fell nearly 2 points (-0.07%) to 2,521.28, and the S&P 500 fell about -0.41% or nearly 5 points to 1,188.05.

There were several analyst upgrades and downgrades today, including Microsoft Corp. (NASDAQ: MSFT) started as ‘hold’ at ThinkEquity. Other ratings actions included Gilead Sciences Inc. (NASDAQ: GILD) raised to ‘outperform’ at BMO and raised to buy at Citigroup; Netflix Inc. (NASDAQ: NFLX) re-initiated as ‘sell’ with a $60 price target at Canaccord Genuity; Amgen Inc. (NASDAQ: AMGN) cut to ‘market perform’ at BMO; Wynn Resorts Ltd. (NASDAQ: WYNN) cut to ‘neutral’ at Janney Capital; and Cree Inc. (NASDAQ: CREE) maintained as ‘buy’ with $33 target price at Canaccord Genuity.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: LDK Solar Co. Inc. (NYSE: LDK) is up nearly 7.5%, at $3.04; Campbell Soup Co. (NYSE: CPB) is down about -5.6%, at $31.74; Hormel Foods Corp. (NYSE: HRL) is a fraction at $28.82; Suntech Power Holdings Co., Ltd. (NYSE: STP) is up more than 17%, at $2.62; and Brocade Communications Systems, Inc. (NASDAQ: BRCD) is up more than 13%, at $5.08.

Be sure to check our story on the dismal showing of the Chinese solar stocks and then try to figure out why LDK and STP shares are up today. Investors have got to believe the stocks have hit bottom. Perhaps, but LDK is pretty shaky, regardless of investors’ hopes.

Several other standouts from today are as follows…

Frontline Ltd. (NYSE: FRO) is down nearly -41%, at $3.07, after posting a new 52-week low of $2.97 earlier today. The company reported awful earnings and said that it would either need to restructure or go out of business.

Alcatel-Lucent (NYSE: ALU) is down nearly -15%, at $1.59, a penny more than a new 52-week low set earlier today. The company is dogged by liquidity and cash flow concerns.

Groupon, Inc. (NASDAQ: GRPN) is down nearly -13.5%, at $20.40, after posting a new post-IPO low of $20.03 earlier today. Apparently investors have figured out that there are other companies competing hard in the same space and that there are few barriers to keep more competitors out.

Focus Media Holding Ltd. (NASDAQ: FMCN) is up more than 15%, at $17.80. The company was torched yesterday by allegations of mis-statements related its reporting. The CEO disputed yesterday’s allegations in a conference call today, and reiterated the company’s intention to continue buying back shares.

Royale Energy Inc. (NASDAQ: ROYL) is up nearly 12%, at $3.27. The company announced a new gas well flowing at 3 million cubic feet/day and said that it would begin selling the gas within 2 weeks.

Stay tuned for Wednesday. Here’s a list of other noteworthy events scheduled for tomorrow(all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
8:30 a.m. – Durable goods orders
8:30 a.m. – Initial unemployment benefits claims
9:55 a.m. – Reuters/University of Michigan consumer sentiment index
10:30 a.m. – EIA weekly natural gas status report (moved up from Thursday)
11:00 a.m – EIA weekly petroleum status report

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ALU, AMGN, BRCD, CPB, CREE, FMCN, FRO, GILD, GRPN, HRL, LDK, MSFT, NFLX, ROYL, STP, WYNN

Top Earnings Previews For The Coming Week (ADI, BRCD, HPQ, TSN, CPB, NUAN, P, DE)

Administrator — Fri, 18 Nov 2011 18:25:06 +0000

This coming week may be a shortened week for Thanksgiving, but there are still going to be some key earnings to watch. We have compiled a brief list of earnings we will be watching as market movers or sector movers.

We have earnings previews for the following: Analog Devices Inc. (NYSE: ADI); Brocade Communication Systems Inc. (NASDAQ: BRCD); Hewlett-Packard Co. (NYSE: HPQ); Tyson Foods Inc. (NYSE: TSN); Campbell Soup Co. (NYSE: CPB); Nuance Communications, Inc. (NASDAQ: NUAN); Pandora Media Inc. (NYSE: P); and Deere & Co. (NYSE: DE). Estimates are from Thomson Reuters and these are broken out by day.

Monday

Analog Devices Inc. (NYSE: ADI) has estimates of $0.64 EPS and $728.17 million in revenue; next quarter estimates are $0.60 EPS and $707.37 million in revenue. With shares around $35.50, the 52-week range is $29.23 to $43.28.

Brocade Communication Systems Inc. (NASDAQ: BRCD) is not a market mover but it is still way off its year high while some of its peers have been calling things better in their business of late. Estimates are $0.10 EPS and $527.38 million in revenue; next quarter estimates are $0.11 EPS and $535.6 million in revenue.

Hewlett-Packard Co. (NYSE: HPQ) is hardly even in the midst of a turnaround. Meg Whitman is still getting her hands around the business and Dell gave a mixed report of late. Estimates are $1.13 EPS and $32.06 billion in revenue; next quarter estimates are $1.11 EPS and $31.44 billion in revenue. We will be looking at the company’s comments around manufacturing problems for drives for its PC around the flooding in Thailand.

Tyson Foods Inc. (NYSE: TSN) has estimates of $0.31 EPS and $8.19 billion in revenue; next quarter estimates are $0.39 EPS and $8.17 billion in revenue. At $19.50, its 52-week trading range is $15.46 to $20.12.

Tuesday

Campbell Soup Co. (NYSE: CPB) has estimates of $0.79 EPS and $2.21 billion in revenue; next quarter estimates are $0.66 EPS and $2.16 billion in revenue. Shares are right at $33.50 and the 52-week range is $29.69 to $35.66. This one in the middle of a strategy change to get back to more flavorful soups and away from being such low-salt.

Nuance Communications, Inc. (NASDAQ: NUAN) is also set for Tuesday and the speech-to-text software leader’s estimates are $0.41 EPS and $393.33 million in revenue; next quarter estimates are $0.38 EPS and $378.78 million in revenue. At $24.00, the 52-week trading range is $15.56 to $26.97.

Pandora Media Inc. (NYSE: P) is still kicking around after its IPO. The online music playing company has estimates of -$0.01 EPS and $71.44 million in revenue; next quarter estimates are -$0.03 EPS and $82.25 million in revenue. Its stock is around $12.55 and the post-IPO range has been $9.33 to $26.00.

Wednesday

Deere & Co. (NYSE: DE) has estimates of $1.43 EPS and $7.87 billion in revenue; next quarter estimates are $1.26 EPS and $6.17 billion in revenue. At 74.50, Deere has a 52-week range of $59.92 to $99.80.
JON C. OGG

Filed under: Calendar, Earnings Tagged: ADI, BRCD, CPB, DE, HPQ, NUAN, P, TSN

360-Degree Cisco Earnings Preview: Peers Await (CSCO, JNPR, ALU, RVBD, BRCD)

Administrator — Wed, 09 Nov 2011 17:58:51 +0000

Cisco Systems Inc. (NASDAQ: CSCO) is set to report earnings after the close of trading and Wall Street is expecting a better report than what it had heard from the company earlier this year. This will bring an update on the company’s layoffs and reorganization as well.

First and foremost, here is a quick hit on its competitors and peers with overlaps. Juniper Networks, Inc. (NYSE: JNPR) is likely to move in the same direction as Cisco after earnings, but its shares remain battered from highs as well. Alcatel-Lucent SA (NYSE: ALU) has been battered endlessly with downgrade after downgrade and its magic turnaround failed yet again to come to meaningful fruition. Riverbed Technology, Inc. (NASDAQ: RVBD) recently recovered handily and some are hoping that this means good things for Cisco and Riverbed both. Brocade Communications Systems, Inc. (NASDAQ: BRCD) remains as “the poor man’s Cisco” and was often a buyout target, but that time seems to have come and gone.

As far as what analysts are calling for out of Cisco, Thomson Reuters has a consensus of $0.39 EPS and $11.02 billion in revenues. Next quarter estimates are $0.42 EPS and $11.13 billion in sales. If Cisco reaches way out and offers 2012 guidance (July fiscal year-end) those consensus estimates are $1.70 EPS and $45.26 billion in sales.

Cisco shares are down over 2% today with the weak stock market, but at $17.89 its 52-week range is $13.30 to $24.60. Our take is that Cisco was beaten down too much for its leadership position and because of its low valuation and high cash balances. At the same time, shares have rallied close to 45% from the extreme lows seen in August during the market sell-off.

We would note that the chart is in a very interesting place that should offer some significant support even if the news is bogged down by woes in Europe. The 50-day moving average is $16.74 and the 200-day moving average is now $16.78. Those just crossed this week and the $17.89 price has been above that for most of the last month. See the stockcharts.com chart below.

Options traders appear to be braced for a move of $0.75 or so in either direction. Analysts have been far more positive on the way up compared to the pre-summer levels and the consensus price target is $19.37 from Thomson Reuters.

We know that the telecom and communications providers have been selectively telling suppliers and services providers that they have had order pushouts. Still, we have seen some win and some lose. Cisco is just too large to be immune to the current woes of Europe, slower spending in Asia and other slowing fears. At the same time, Cisco was just punished far too harshly throughout 2011 before its shares recovered.

JON C. OGG

Filed under: Earnings, Technology Companies Tagged: ALU, BRCD, CSCO, JNPR, RVBD

Media Digest (10/28/2011) Reuters, WSJ, NYTimes, FT, Bloomberg

247wallst — Fri, 28 Oct 2011 10:16:31 +0000

Spain’s unemployment rate rose to 21.5% last quarter. (MarketWatch)

EU officials not expecting China to invest in the region’s bailout, despite reports to the contrary. (Reuters)

Hewlett-Packard (NYSE: HPQ) to keep its PC unit. (Reuters)

MF Global (NYSE: MF) loses clients because of reports of its poor performance. (Reuters)

Samsung smartphone sales move ahead of Apple’s (NASDAQ: AAPL) and the Korean company says it expects a strong Q4. Samsung had 23.8% of the global smartphone market in the third quarter, 9 points higher than Apple. (Reuters)

Water use is growing faster than the world’s population, according to the World Resources Institute. (Reuters)

Yahoo! (NASDAQ: YHOO) and potential bidders are at odds over a complex nondisclosure agreement. (Reuters)

Baidu’s (NASDAQ: BIDU) earnings rise sharply as search revenue in China climbs. The local search engine now has 80% of the market. (Reuters)

Research In Motion (NASDAQ: RIMM) sets up a surveillance system in India to help the government track BlackBerry use. (WSJ)

JPMorgan Chase (NYSE: JPM) will not charge customers who use their debit cards for purchases. (WSJ)

Ahead of IPOs, the heads of Groupon and Zynga set up share systems that will give them more voting rights. (WSJ)

Brocade (NASDAQ: BRCD) may try to find a buyer. (WSJ)

Poor results put Avon’s (NYSE: AVP) CEO Andrea Jung under pressure. (WSJ)

The NYSE and Nasdaq increase their competition for IPO listings. (WSJ)

Warner Music Group (NYSE: WMG) is close to a deal to buy EMI. (WSJ)

Chrysler posts a $212 million quarterly profit. (WSJ)

A study by the Carsey Institute at the University of New Hampshire shows relocations in the U.S. have slowed. (NYT)

Time Warner Cable (NYSE: TWC) loses both voice and cable subscribers. (FT)

France may have to make more budget cuts to keep its AAA rating. (Bloomberg)

Douglas A. McIntyre

Filed under: Press Digest Tagged: AAPL, AVP, BIDU, BRCD, HPQ, JPM, MF, RIMM, TWC, WMG, YHOO

Top Analyst Upgrades & Downgrades (ALGN, BIDU, BRCD, DMD, FSLR, HL, HGG, ITMN, LTD, MFN, NOK, PCX, STX, VPRT)

Administrator — Wed, 12 Oct 2011 12:48:24 +0000

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

Align Technology, Inc (NASDAQ: ALGN) Started as Neutral with $19 target at Credit Suisse.
Baidu, Inc. (NASDAQ: BIDU) Cut to Buy from Strong Buy at S&P Equity Research (late-Tuesday).
Brocade Communications Systems, Inc. (NASDAQ: BRCD) Cut to Underweight at JPMorgan.
Demand Media, Inc. (NYSE: DMD) Cut to Neutral at Goldman Sachs.
First Solar Inc. (NASDAQ: FSLR) Cut to Sell at Ticonderoga.
Hecla Mining Company (NYSE: HL) named Value stock of the day at Zacks.
hhgregg, Inc. (NYSE: HGG) cut to Underperform as Bear of the Day at Zacks.
InterMune, Inc. (NASDAQ: ITMN) Reiterated Buy with $44 target at Canaccord Genuity.
Limited Brands, Inc. (NYSE: LTD) named Bull of the Day at Zacks.
Minefinders Corp. (NYSE: MFN) named growth stock of the day at Zacks.
Nokia Corporation (NYSE: NOK) Raised to Neutral at Nomura.
Patriot Coal Corporation (NYSE: PCX) Cut to Sell at Goldman Sachs.
Seagate Technology PLC (NASDAQ: STX) Cut to Neutral at JPMorgan.
Vistaprint N.V. (NASDAQ: VPRT) Cut to Sell at Goldman Sachs.

JON C. OGG

Filed under: Analyst Calls Tagged: ALGN, BIDU, BRCD, DMD, FSLR, HGG, HL, ITMN, LTD, MFN, NOK, PCX, STX, VPRT

Top Earnings Previews For The Week Ahead (DDS, LDK, LOW, ADI, DELL, HD, TJX, WMT, DE, DRYS, JDSU, NTAP, SPLS, TGT, BRCD, GME, GPS, HPQ, CRM, SHLD)

Administrator — Fri, 12 Aug 2011 18:26:51 +0000

The coming week has many key earnings reports, some tech and some retail. We have tracked the major reports by day, shown Thomson Reuters estimates, as well as given price action, and then we have added on color if there was something more to add.

Investors will be watching earnings reports from the following: Dillard’s Inc. (NYSE: DDS); LDK Solar Co. Ltd. (NYSE: LDK); Lowe’s Companies Inc. (NYSE: LOW); Analog Devices Inc. (NYSE: ADI); Dell Inc. (NASDAQ: DELL); Home Depot Inc. (NYSE: HD); TJX Companies Inc. (NYSE: TJX); Wal-Mart Stores Inc. (NYSE: WMT); Deere & Co. (NYSE: DE); DryShips Inc. (NASDAQ: DRYS); JDS Uniphase Corporation (NASDAQ: JDSU); NetApp Inc. (NASDAQ: NTAP); Staples Inc. (NASDAQ: SPLS); Target Corporation (NYSE: TGT); Brocade Communications Systems Inc. (NASDAQ: BRCD); GameStop Corporation (NYSE: GME); Gap Inc. (NYSE: GPS); Hewlett Packard Co. (NYSE: HPQ); Salesforce.com Inc. (NYSE: CRM); and Sears Holdings Corporation (NASDAQ: SHLD).

We did not include the consensus analyst price target this week because the data looks very skewed since it has not been fully updated to reflect the new estimates.

Monday, August 15

Dillard’s Inc. (NYSE: DDS) has Thomson Reuters estimates of $0.25 EPS and $1.42 billion in revenues; next quarter estimates are $0.31 EPS and $1.36 billion in revenues. Keep in mind that the consensus group is too small for us to have much faith in estimates. Shares are trading around $42.50 and the 52-week trading range is $19.26 to $61.08.

LDK Solar Co. Ltd. (NYSE: LDK) has Thomson Reuters estimates of $0.44 EPS and $716.37 million in revenues; next quarter estimates are $0.33 EPS and $740.77 million in revenues. Shares are trading around $6.36 and the 52-week trading range is $4.97 to $15.10. With the woes of solar and with the woes of Chinese accounting, LDK could be up huge or down huge.

Lowe’s Companies Inc. (NYSE: LOW) has Thomson Reuters estimates of $0.67 EPS and $14.78 billion in revenues; next quarter estimates are $0.35 EPS and $11.97 billion in revenues. Shares are trading around $19.26 and the 52-week trading range is $18.97 to $27.45. That 52-week low was hit on Friday.

Filed under: Calendar, Earnings, The Week Tagged: ADI, BRCD, CRM, DDS, DE, DELL, DRYS, GME, GPS, HD, HPQ, JDSU, LDK, LOW, NTAP, SHLD, SPLS, TGT, TJX, WMT

Top Analyst Upgrades & Downgrades (ADBE, ALU, ARMH, BBBY, BP, BRCM, BRCD, LFC, DISCA, EIX, FFIV, LPS, ERIC, M, NKA, ORCL, SLM, HOT)

Administrator — Fri, 12 Aug 2011 12:23:18 +0000

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

Adobe Systems Inc. (NASDAQ: ADBE) Cut to Underperform at RBC.
Alcatel-Lucent (NYSE: ALU) Reiterated Hold at Argus.
ARM Holdings plc (NASDAQ: ARMH) Cut to Underperform at BofA/ML.
Bed Bath & Beyond, Inc. (NASDAQ: BBBY) Raised to Outperform at Oppenheimer.
BP plc (NYSE: BP) Cut to Neutral at Goldman Sachs.
Broadcom Corp. (NASDAQ: BRCM) Started as Market Perform at William Blair.
Brocade Communications Systems, Inc. (NASDAQ: BRCD) Reiterated Hold and Cut estimates at Argus.
China Life Insurance Co. Ltd. (NYSE: LFC) Raised to Outperform at Credit Suisse.
Discovery Communications, Inc. (NASDAQ: DISCA) Raised to Buy at Citigroup.
Edison International (NYSE: EIX) Raised to Outperform at Credit Suisse.
F5 Networks, Inc. (NASDAQ: FFIV) Raised to Outperform at William Blair.
Lender Processing Services (NYSE: LPS) named Bear of the Day at Zacks.
LM Ericsson Telephone Co. (NASDAQ: ERIC) Raised to Buy at BofA/ML.
Macy’s, Inc. (NYSE: M) Reiterated Buy as Value at Zacks.
Niska Gas Storage Partners LLC (NYSE: NKA) Cut to Sector Perform at RBC.
Oracle Corporation (NASDAQ: ORCL) Cut to Sector Perform at RBC.
SLM Corporation (NYSE: SLM) Raised to Outperform as Bull of the Day at Zacks.
Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) Cut to Hold at Jefferies.

Thursday’s top analyst upgrades, downgrades and initiations were in AAP, ADM, COF, CVX, CSCO, CREE, IDTI, ISRG, KGC, NOV, NYX, TEVA, TDW, WYN.

You are invited to join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: ADBE, ALU, ARMH, BBBY, BP, BRCD, BRCM, DISCA, EIX, ERIC, FFIV, HOT, LFC, LPS, M, NKA, ORCL, SLM