24/7 Wall St. » BWLD

24/7 Wall St. Closing Bell (YUM, DMD, NLY, MS, UBS, AGU, CVS, RL, RAI, TWX, DIS, WYN, BWLD, CSCO, CZR, FFN, TNK, AKAM, NURO)

Paul Ausick — Wed, 08 Feb 2012 21:06:49 +0000

The US equity markets opened slightly higher this morning, but soon turned around and spent the rest of the morning lower before returning to about even by afternoon. Equities could close at or near where they opened today. The lack of a decision on the Greek debt swap deal is leading investors to exercise caution both in Europe and the US. If the new Greek deal is anything like the last dozen or so, it will send markets up as soon as it is announced; and once people have a chance to read the details, markets will turn south again. Crude is higher today, with WTI up 0.51% at $98.91/barrel and Brent up 1.24% at $117.67/barrel. Gold closed down -0.73% at $1,735.60/ounce.

The unofficial closing bells put the DJIA up about 6 points to 12,883.95 (0.04%), the NASDAQ rose nearly 12 points (0.41%) to 2,915.86, and the S&P 500 rose 0.22% or about 3 points to 1,349.97.

There were several analyst upgrades and downgrades today, including Yum! Brands Inc. (NYSE: YUM) cut to ‘neutral’ at Goldman Sachs; Demand Media Inc. (NYSE: DMD) cut to ‘underweight’ at Morgan Stanley; Annaly Capital Management Inc. (NYSE: NLY) cut to ‘market perform’ at FBR; Morgan Stanley (NYSE: MS) cut to ‘hold’ at Collins Stewart; and UBS AG (NYSE: UBS) cut to ‘sell’ 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: Agrium Inc. (NYSE: AGU) is up 2.16% at $82.95; CVS Caremark Corp. (NYSE: CVS) is up 1.18% at $43.59 after posting a new 52-week high of $44.08 earlier in the day; Ralph Lauren Corp. (NYSE: RL) is up 9.8% at $172.50 after posting a new 52-week high of $178.47 earlier today; Reynolds American Inc. (NYSE: RAI) is down -1.35% at $39.57; Time Warner Inc. (NYSE: TWX) is up 0.3% at $38.21 after posting a new 52-week high of $39.23 earlier today; Walt Disney Co. (NYSE: DIS) is up 0.95 at $41.34; Wyndham Worldwide Corp. (NYSE: WYN) is up 5.6% at $43.22 after posting a new 52-week high of $43.36 earlier today; and Buffalo Wild Wings Inc. (NASDAQ: BWLD) is up nearly 17% at $82.04 after posting a new 52-week high of $82.45 earlier today.

Our preview of tomorrow’s earnings releases is here. Also see our coverage of earnings for Cisco Systems Inc. (NASDAQ: CSCO) due after markets close today

Other standouts from today include the following stocks:

Ceasars Entertainment Corp. (NASDAQ: CZR) is up more than 70% at $15.32. The casino owner completed its IPO today, with 1.8 million shares going out at $9/share. We have some issues with this IPO.

FriendFinder Networks Inc. (NASDAQ: FFN) is up nearly 33% at $1.95. The adult dating site had no news today, so this must just be more halo effect from Facebook — or something else.

Teekay Tankers Ltd. (NYSE: TNK) is down more than -12% today at $3.98. The shipping company this morning priced a secondary stock offering of 15 million shares at $4/share.

Akamai Technologies Inc. (NASDAQ: AKAM) is up about 2% at $34.33. The internet company acquired a Canadian company today, and reports earnings after markets close today. We have more coverage here.

NeuroMetrix Inc. (NASDAQ: NURO) is down more than -17% at $0.95 after posting a new 52-week low of $0.94 earlier today. The medical device maker priced a secondary offering of 10.5 million shares at $1/share this morning.

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

8:30 a.m. – New unemployment benefits claims
10:00 a.m. – Wholesale trade report
10:30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – Treasury 30-year bond auction
4:30 p.m. – Federal Reserve balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AGU, AKAM, BWLD, CSCO, CVS, CZR, DIS, DMD, FFN, MS, NLY, NURO, RAI, RL, TNK, TWX, UBS, WYN, YUM

Top Earnings Previews For Tuesday (NLY, BP, BWLD, CERN, CHD, KO, EMR, HIG, JIVE, NTGR, OPEN, PNRA, SNCR, TM, DIS)

Administrator — Mon, 06 Feb 2012 18:24:07 +0000

We are getting into the last of the normalized quarterly earnings reports and into the first waves of the companies with off-normal quarter-ends. Tuesday is going to be another busy day with many earnings. The earnings previews are for the following: Annaly Capital Management Inc. (NYSE: NLY); Bp Plc (NYSE: BP); Buffalo Wild Wings Inc. (NASDAQ: BWLD); Cerner Corporation (NASDAQ: CERN); Church & Dwight Co. (NYSE: CHD); Coca-Cola Co. (NYSE: KO); Emerson Electric Co. (NYSE: EMR); Hartford Financial Services Group Inc. (NYSE: HIG); Jive Software Inc. (NASDAQ: JIVE); NETGEAR Inc. (NASDAQ: NTGR); OpenTable Inc. (NASDAQ: OPEN); Panera Bread Co. (NASDAQ: PNRA); Synchronoss Technologies, Inc. (NASDAQ: SNCR); Toyota Motor Corporation (NYSE: TM); and The Walt Disney Co. (NYSE: DIS).

We have compiled previews using Thomson Reuters consensus data and have added color on each if applicable.

Annaly Capital Management Inc. (NYSE: NLY) is going to be closely watched by the dividend investors because of that 13% implied dividend yield. The mortgage REIT is expected to report $0.56 per share.

Bp Plc (NYSE: BP) has recovered handily from the 2010 Deepwater Horizon disaster. This is an ADR so its earnings will be converted from U.K. Pounds… The estimate is $1.57 per share and the stock is up well over 50% from when its shares sold off so much in 2010. Keep in mind that this was a $60 stock before the Gulf of Mexico disaster.

Buffalo Wild Wings Inc. (NASDAQ: BWLD) is not so hot after the Super Bowl and we are six weeks from the next mega-event in sports. Estimates are $0.67 EPS and $210.25 million. This one remains expensive at almost 22-times full 2012 earnings expectations and it is only about $2.00 shy of a 52-week and all-time high.

Cerner Corporation (NASDAQ: CERN) is expected to report $0.53 EPS and $586.86 million in sales. At $63.20, the 52-week trading range for the healthcare information technology and support company is $53.93 to $74.39.

Church & Dwight Co. (NYSE: CHD) is expected to report $0.51 EPS and $694.32 million. At $45.50, the 52-week range is $33.83 to $47.00. This consumer products company remains at a large valuation premium to its larger consumer products rivals and it also has a much lower dividend yield.

Filed under: 24/7 Wall St. Wire, Calendar, Earnings Tagged: BP, BWLD, CERN, CHD, DIS, EMR, HIG, JIVE, KO, NLY, NTGR, OPEN, PNRA, SNCR, TM

The Ten Worst 10-Ks of 2011 (HPQ, GRPN, BWLD)

247wallst — Mon, 19 Dec 2011 11:19:31 +0000

Covering a wide range of industries and behaviors, the 10Q Detective lists some of the more sophomoric — and predictable — regulatory filings made to the Securities and Exchange Commission in 2011:

Hewlett-Packard (NYSE: HPQ) continued its revolving door policy, showing CEO Leo Apotheker the exit in September after the SAP (NYSE: SAP) software veteran fumbled the TouchPad tablet launch. During his 11-month tenure, the common stock fell some 45% in value. Apotheker had hoped to leverage HP’s strengths in global reach and hardware to make the webOS-based device a formidable competitor to Apple’s (NASDAQ: AAPL) ubiquitous iPad. He bungled magnificently — the product was killed a mere six weeks after its launch due to anemic sales. Nonetheless, despite his failure to lead, Apotheker received almost $16 million in compensation: a severance payment of $7.2 million (including the accelerated vesting of shares worth $3.6 million and a performance bonus of $2.4 million) and a cash sign-on bonus totaling $8.6 million. HP believed the severance package, also called the “Apotheker Agreement,” was appropriate — in “recognition of, among other things, the compensation from his former employee being foregone … and the considerable expense he incurred in relocating his family to the United States (from Europe).” The board of directors might want to reconsider its “pay-for-results” ethos.

Can Groupon (NASDAQ: GRPN), industry leader in the online coupon discounting space, defy the odds? Of the 30 social media or Internet-related IPOs launched since the start of 2010, 60% are trading below their offering price, according to Birinyni Associates analyst Kevin Pleines. In two amended prospectus filings leading up to its November 4 IPO, the company backed away from a controversial accounting metric. In particular, Groupon’s original offering prospectus in July focused on “adjusted income” of $81.6 million. In actuality, the company’s operations had generated losses of $117.8 million in the quarter ending March 31 — if some $200 million in online marketing expenses were recognized. Conveniently, adjusted income does not reflect the significant working capital consumed in acquiring subscribers. Come 2012, whether Groupon can continue to trade above its original IPO of $20 a share ultimately will depend on the company posting real earnings and cash flow growth.

MF Global Holdings became the first U.S. casualty of the European sovereign debt crisis in 2011, filing for bankruptcy on October 31. Though he has yet to acknowledge culpability, the blame rests squarely with chairman and chief executive Jon Corzine, who pushed the financial derivatives broker-dealer to make an ill-timed $11.5 billion bet on European bonds (with borrowed money). Corzine’s judgment that European leaders would resolve the euro crisis, leading to a rebound in the value of MF Global’s holdings, proved dead wrong. As the euro crisis intensified, the value of MF Global’s bonds dropped, leading to margin calls and the subsequent collapse of the company. Bondholders of a $325 million offering last August probably are rethinking their insistence of a “key man event” clause, which stated that “the interest rate applicable to the notes would be subject to an increase of 1.00% upon the departure of Mr. Corzine as full time chief executive officer due to his appointment to a federal position by the President of the United States.” In hindsight, bond buyers probably would have accepted 100 basis points less to have been rid of the erstwhile New Jersey senator and governor.

Buffalo Wild Wings (NASDAQ: BWLD) insists that professional basketball is not a significant driver of restaurant sales (like the NFL). Nonetheless, the share price rose 10% in the days following word that NBA owners and players reached a new labor accord over the Thanksgiving weekend, ending a five-month lockout that led to the loss of 16 games in the regular 82 game season schedule. Notwithstanding a potential labor dispute in the NHL next year (collective bargaining agreement expiry), profitability at the chicken-wing restaurant chain could come undone in 2012 due to rising poultry prices. A report by the USDA suggests that a combination of high feed costs and (anticipated) processing cutbacks could send boneless/skinless breast prices into the $1.50 to $1.60 per pound range by spring, from $1.15 per pound in November 2011. Wings accounted for 39% of third-quarter 2011 sales, according to the Buffalo Wild Wing’s quarterly filing with the SEC.

In straightforward fashion, News Corp. (NYSE: NWS) reported that the company faced criminal investigations regarding the well-publicized phone hacking scandal and “inappropriate payments” (bribes) to British police made by higher-ups at the media company’s erstwhile publication, News of the World. “It is also possible that these proceedings could damage our reputation and impair our ability to conduct our business,” declared the 10-K filing. You think? In July, the media conglomerate withdrew its $12.4 billion takeover bid for British pay-TV satellite broadcaster British Sky Broadcasting (BSkyB), following pressure from the government. Despite mounting legal problems, it was another profitable year for anyone named Murdoch at the family-controlled holding. Chairman and CEO Rupert Murdoch took home total compensation of $33.3 million, up from $22.7 million in 2010; his son James, deputy chief operating officer, pocketed $17.9 million, a 70% increase over the prior year. It looks like the financial messes resulting from the newspaper scandal did not damage the Murdochs’ ability to conduct business.

Read the rest of the “Worst of the Bad” regulatory filings of 2011 in tomorrow’s 24/7 Wall St.

David Phillips

Filed under: Corporate Governance Tagged: AAPL, BWLD, GRPN, HPQ, NWS, SAP

24/7 Closing Bell (BIDU, MON, T, CRUS, PLCM, PM, NOK, SCSS, RVBD, AMLN, CLWR, BWLD)

Paul Ausick — Thu, 20 Oct 2011 20:17:37 +0000

The market sure didn’t feel too great through much of the warning, but the day turned out a lot better than it was looking. Weekly jobless claims remained stubbornly above the 400,000 mark. The big surprise was a better-than-expected Philly Fed manufacturing report today and then also came the news that Greece somehow managed to pass another round of austerity measures. And to top it off, the Grim Reaper caught up with Moammar Gadhafi today and Libya can now work to build into whatever direction the new leadership wants to go in.The unofficial closing bells put the DJIA up nearly more than 37 points to 11,541.78, the NASDAQ fell more than 5 points (-0.21%) to 2598.62, and the S&P 500 rose 0.45% or more than 5 points to1,215.38.

We had many key analyst upgrades and downgrades today, including calls in shares of Baidu, Inc. (NASDAQ: BIDU) and Monsanto Co. (NYSE: MON). The retail sector did not follow the news, due to some fears that the holiday season is not going to be as strong as many expected. Speaking of analyst calls and projections, there are still some extremely lofty upside price targets out there in the automotive sector.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: (only show late-day percent change and price): AT&T (NYSE: T) down about -0.1% at $28.97, Cirrus Logic, Inc. (NASDAQ: CRUS) down nearly -17% at $14.21; Polycom, Inc. (NASDAQ: PLCM) down -25%, at $16.46; Phillip Morris International, Inc. (NYSE: PM) up more than 4%, at $68.77; Nokia Corporation (NYSE: NOK) up more than 6%, at $6.50; and Select Comfort Corporation (NASDAQ: SCSS) up more than 20%, at $19.38.

Several other standouts from today are as follows…

Riverbed Technology, Inc. (NASDAQ: RVBD jumped more than 9.5%, to $24.69, following a better than expected earnings report after markets closed last night.

Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) rose nearly 13%, to $11.56, after getting approval for wider use of its diabetes drug and posting a smaller than expected third-quarter loss.

Clearwire Corp. (NASDAQ: CLWR) shares are up nearly 13% as well, to $1.57, probably as a result of indications that its spectrum licenses could get some competitive bids.

Buffalo Wild Wings, Inc. (NASDAQ: BWLD) is up nearly 7%, to $62.06, after reporting a 33% rise in income for the third quarter.

After a busy week of economic data, there are no major market moving economic reports due Friday morning. Look for Fed-head speeches on Friday from Kocherlakota, Fisher, and Yellen throughout the day. Most importantly, watch for more news out of Europe on just how much the Europeans are going to throw into their European Financial Stability Fund (Europe’s mini-me version of the TARP).

Paul Ausick

Filed under: General Tagged: AMLN, BIDU, BWLD, CLWR, CRUS, MON, NOK, PLCM, PM, RVBD, SCSS, T

Top After-Hours Earnings Stocks on the Move (AXP, BWLD, CRUS, CBST, EBAY, ETFC, RVBD, WDC, WYNN)

Administrator — Wed, 19 Oct 2011 21:28:00 +0000

24/7 Wall St. is tracking the after-hours earnings reports to see which stocks are on the move and which ones will be the key issues for Thursday morning. The top movers are as follows: American Express Company (NYSE: AXP); Buffalo Wild Wings Inc. (NASDAQ: BWLD); Cirrus Logic Inc. (NASDAQ: CRUS); Cubist Pharmaceuticals, Inc. (NASDAQ: CBST); eBay Inc. (NASDAQ: EBAY); E*TRADE FInancial Corporation (NASDAQ: ETFC); Riverbed Technology, Inc. (NASDAQ: RVBD); Western Digital Corporation (NYSE: WDC); and Wynn Resorts Ltd. (NASDAQ: WYNN).

A brief summary of the news and the after-hours reaction is available on each below.

American Express Company (NYSE: AXP) beat earnings estimates at $1.03 EPS versus $0.95 estimates. Shares were down 1.2% today and shares are currently down another 1.2% at $45.59 in the after-hours session.

Buffalo Wild Wings Inc. (NASDAQ: BWLD) beats earnings at $0.61 EPS versus $0.63 EPS estimate; revenues rose over 30%; it sees meeting a goal of 13% unit growth and 23% net earnings growth for 2011. The dining, beer, and sports destination also sees 2012 with 12% unit growth and net earnings growth of 20% in 2012. Shares fell 0.8% on the day but the stock is up 3.3% at $59.81 in the after-hours session.

Cirrus Logic Inc. (NASDAQ: CRUS) beats earnings but guided next quarter below estimates as it is seeing softness in some areas of business due to global economic issues. Shares were down 5.5% at $17.01 on the regular trading day and shares are down another 12% at $14.73 in after-hours.

Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) beat $200 million in sales for the quarter and shares are up almost 8% at $39.33 after closing down 1.75% today.

eBay Inc. (NASDAQ: EBAY) met its $0.48 EPS target and sees $0.55 to $0.58 EPS versus $0.58 EPS targets in Q4. Shares were down 2% on the day and down another 4.3% at $31.83 in after-hours trading.

E*TRADE FInancial Corporation (NASDAQ: ETFC) is now up after having been down. It appears to have met the $0.16 estimate but revenues were light; shares closed down 2.6% on the day but are back up almost 2% at $9.52 in after-hours. No word on any merger, again.

Riverbed Technology, Inc. (NASDAQ: RVBD) may be getting its mojo back… It beat earnings and guided higher. After falling 2.8% on the day shares are up over 11% at $25.10 in the after-hours and the 52-week range is $12.57 to $44.70.

Western Digital Corporation (NYSE: WDC) was down 9% today on Thai flood concerns and shares are down another 2% at $24.00 in the after-hours session despite $1.01 EPS. The floods could impact they key quarter ahead.

Wynn Resorts Ltd. (NASDAQ: WYNN) was down over 5% on its own today and now the high-end casino operator posted $1.05 EPS versus $1.15 estimates even though revenues were in line and up 29%. Shares are down another 5.2% at $123.48.

JON C. OGG

Filed under: After-Hours Activity, Earnings, Earnings Warning, Trading Alert Tagged: AXP, BWLD, CBST, CRUS, EBAY, ETFC, RVBD, WDC, WYNN

Top Analyst Upgrades & Downgrades (RATE, BWLD, DLLR, DLTR, TV, HA, IGT, JNPR, LVS, LNKD, MPEL, NOV, PCX, PM, SBGI, SBUX)

Administrator — Wed, 27 Jul 2011 12:25:13 +0000

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

Bankrate Inc. (NYSE: RATE) Started as Buy at Citigroup; Started as buy at Stifel Nicolaus; Started as Outperform at RBC.
Buffalo Wild Wings Inc. (NASDAQ: BWLD) Raised to Outperform at Raymond James.
Dollar Financial (NASDAQ: DLLR) Reiterated Buy as Bull of the Day at Zacks.
Dollar Tree, Inc. (NASDAQ: DLTR) Raised to Overweight at Piper Jaffray.
Grupo Televisa S.A. (NYSE: TV) Cut to Underperform as Bear of the Day at Zacks.
Hawaiian Holdings, Inc. (NASDAQ: HA) Raised to Neutral at BofA/ML.
International Game Technology (NYSE: IGT) Reiterated Outperform but raised target to $24 at Credit Suisse.
Juniper Networks, Inc. (NYSE: JNPR) removed from Conviction Buy List at Goldman Sachs; also downgraded at William Blair, Oppenheimer, and Citigroup.
Las Vegas Sands (NYSE: LVS) Reiterated Outperform and raised target to $60 from Credit Suisse.
LinkedIn Corporation (NYSE: LNKD) Started as Market Perform at William Blair.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) Reiterated Buy and raised target to $19.10 at Citigroup.
National Oilwell Varco (NYSE: NOV) Reiterated Buy and raised target to $100 at Canaccord Genuity.
Patriot Coal Corporation (NYSE: PCX) Removed from Conviction Buy List at Goldman Sachs.
Phillip Morris International Inc. (NYSE: PM) Reiterated Buy and raised target to $80 at Argus.
Sinclair Broadcast Group Inc. (NASDAQ: SBGI) Cut to Neutral at JPMorgan.
Starbucks Corporation (NASDAQ: SBUX) Raised to Buy at Janney Capital.

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: BWLD, DLLR, DLTR, HA, IGT, JNPR, LNKD, LVS, MPEL, NOV, PCX, PM, RATE, SBGI, SBUX, TV

NBA & NFL Risks Not Reflected in Several Key Stocks (BWLD, DPZ, PZZA, DRJ, CLCT, UA)

Administrator — Tue, 05 Jul 2011 16:30:42 +0000

No money was injured while filming

Buffalo Wild Wings Inc. (NASDAQ: BWLD) has been a phenomenal stock and it is a very well-run company. It arguably has a brand leadership role, at least for public companies, in its restaurant mix of feel-good food, beer, and a sports bar all rolled into one. That being said, its current share price does not seem to reflect the risks of a fall season without the NFL and without the NBA. It is not alone.

There are also risks in shares of BJ’s Restaurants, Inc. (NASDAQ: BJRI), Domino’s Pizza, Inc. (NYSE: DPZ), Papa John’s International Inc. (NASDAQ: PZZA), Dreams Inc. (AMEX: DRJ), Collectors Universe Inc. (NASDAQ: CLCT), and in Under Armour, Inc. (NYSE: UA). There are certainly others which would be considered at risk, but these are the most likely to be sports-sensitive out of our current watch-lists.

As of today, the professional football season is still a question mark. As of today, there is a lock-out in the NBA level for professional basketball that looks certain to delay the season. It was believed that Buffalo Wild Wings could mitigate one league being on the sidelines. Now, strikes have the risks being in the August-football and October-basketball being on the sidelines. Sure, there is the Saturday flurry for college football and through September there will be baseball games on just about every single day. There are also other sports matches that will be played.

What Buffalo Wild Wings DOES have working in its favor is several key issues. Gas prices are lower and food prices are falling and expected to fall even more this year. The really good news is that chicken wing prices in particular will be sharply lower if the NBA and NFL go dark for this season. The rise in beer prices has also likely peaked. That means that promotions will vary from wing chain to wing chain, but the idea that Hooters or Buffalo Wild Wings will cut prices deeply (other than the promotions and giveaways) is not something we would expect to see on the full menu day in and day out. Companies know that raising prices on the full menu is hard to do.

The reality is that Buffalo Wild Wings is not alone in its risks of a seasonal lock-out in two professional sports. We already noted Hooters, even if it is private. It is also not just food chains at risk if the NBA and NFL go without a 2011-2012 season. These are some other observed names with real risk if both the NBA and NFL, and we have tried to list the good news about each as well. These are as follows:

BJ’s Restaurants, Inc. (NASDAQ: BJRI) just hit a new 52-week and all-time high of $54.82 today. It has a high forward P/E of almost 50-times earnings with some 107 owned and/or operated casual dining restaurants. The good news here is that BJ’s is not just a sports destination. The bad news is that it feels priced for perfection, even if we ultimately think a private equity group would love to own this chain.

Domino’s Pizza, Inc. (NYSE: DPZ) and Papa John’s International Inc. (NASDAQ: PZZA) are in the same boat being equally tied to pizza and other comfort foods available for delivery or pick-up. Papa John’s stock has actually pulled back more (with a downgrade today from SunTrust) at $32.13 from its 52-week highs of $34.75. Domino’s is getting very close to now being outside of our “value zone” after we picked it out in April when shares were under $19.00. If NBA games and NFL games are not going to be there this year, Domino’s could easily find its multi-pizza orders suffering from fewer house party events around sports.

Dreams Inc. (AMEX: DRJ) was previously lower on the thought that the NFL no-season was mostly priced into the stock. At $2.60, its 52-week trading range is $1.17 to $3.18 but it is currently close to 3-month highs. Sports licensed products and collector case sales are likely to suffer without NBA and NFL seasons combined.

Collectors Universe Inc. (NASDAQ: CLCT) is the owner and operator of PSA grading for cards and other memorabilia grading and authentication. At $15.28, its 52-week range is $11.01 to $17.03 and shares are close to the highest levels of the summer. What PSA’s owner has going for it that others do not is a dividend yield of between 8% and 9% as of today.

Under Armour, Inc. (NYSE: UA) was bashed over the weekend as being overvalued and trading at multiples that are twice that of rivals, according to Barron’s. At $79.29, its 52-week range is $32.11 to $80.00 and this is effectively close to all-time highs. Non-professional athletes are likely to keep buying sportswear even if there is not a pro-season in the NBA and NFL, but this one was singled out in Barron’s this weekend and is one we believe may have more at risk compared to other growth apparel stocks.

Buffalo Wild Wings Inc. (NASDAQ: BWLD) has already gone through a period of some downs. Still, at $67.00 it is near all-time highs and the official 52-week range is $35.01 to $67.30. Analysts have not exactly gone out and rushed to cut earnings estimates for the September quarter as of yet because we do not have the June-quarter results nor do we have formal guidance for both leagues being in the dark.

What needs to be considered is simple. Long-term, sports leagues do not stay on the sidelines endlessly. Even major wars have not ended play for too long. It seems unlikely that the leagues and the players will allow a full season to be interrupted, even if the seasons are much shorter and without pre-seasons.

The good news is for price-sensitive consumers looking for deals. You will likely have less wait times for seating and deliveries, and you can probably expect better promotions by the companies.

JON C. OGG

Filed under: Apparel, Consumer Goods, Entertainment, Food, Product Review, Retail Tagged: BWLD, CLCT, DPZ, DRJ, PZZA, UA

Top Analyst Upgrades & Downgrades (AIR, AA, AMAT, BWLD, CAT, OFC, DNDN, EMC, MRH, NFLX, SANM, SGEN, S, UNH, VFC, WFMI, YMI, ZBRA)

Administrator — Mon, 02 May 2011 12:19:44 +0000

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

AAR Corporation (NYSE: AIR) Maintained Outperform as Bull of the Day at Zacks.
Alcoa Inc. (NYSE: AA) Raised to Buy at Goldman Sachs.
Applied Materials Inc. (NASDAQ: AMAT) Cut to Neutral at JPMorgan.
Buffalo Wild Wings, Inc. (NASDAQ: BWLD) Maintained Strong Buy at Zacks.
Caterpillar Inc. (NYSE: CAT) Reiterated Outperform and target raised to $148 at Credit Suisse.
Corporate Office Properties (NYSE: OFC) Cut to Underweight at JPMorgan.
Dendreon Corporation (NASDAQ: DNDN) Started as Underperform at Credit Suisse.
EMC Corp. (NYSE: EMC) Raised to Buy with $35 target at BofA/ML.
Montpelier Re Holdings (NYSE: MRH) named as Bear of the Day at Zacks.
Netflix, Inc. (NASDAQ: NFLX) Raised to Buy at Citigroup.
Sanmina-SCI Corporation (NASDAQ: SANM) Raised to Buy at Argus.
Seattle Genetics Inc. (NASDAQ: SGEN) Started as Buy
Sprint-NexTel Corporation (NYSE: S) Reiterated Buy with $7 target at Argus.
UnitedHealth Group (NYSE: UNH) Kept at Strong Buy and noted as Value at Zacks.
V.F. Corporation (NYSE: VFC) Cut to Hold at Citigroup.
Whole Foods Market, Inc. (NASDAQ: WFMI) Cut to Hold at Jefferies.
Y M Biosciences Inc. (AMEX: YMI) Started as Neutral with $4 target at BofA/ML.
Zebra Technologies Corp. (NASDAQ: ZBRA) Raised to Overweight at JPMorgan.

JON C. OGG

Filed under: Analyst Calls Tagged: AA, AIR, AMAT, BWLD, CAT, DNDN, EMC, MRH, NFLX, OFC, S, SANM, SGEN, UNH, VFC, WFMI, YMI, ZBRA

After-Hours Top Earnings & Event Stock Movers (BRCM, BWLD, KEYN, LDK, MIPS, REGN, RFMD, SFSF)

Administrator — Tue, 26 Apr 2011 22:40:55 +0000

We have many after-hours movers after earnings and other reported events. We are tracking moves in Broadcom Corporation (NASDAQ: BRCM), Buffalo Wild Wings, Inc. (NASDAQ: BWLD), Keynote Systems, Inc. (NASDAQ: KEYN), LDK Solar Co., Ltd. (NYSE: LDK), MIPS Technologies, Inc. (NASDAQ: MIPS), Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN), RF Micro Devices, Inc. (NASDAQ: RFMD), and SuccessFactors, Inc. (NASDAQ: SFSF).

Broadcom Corporation (NASDAQ: BRCM) was one we were having mixed emotions in ahead of earnings. In the current quarter, sales were put in a range of $1.75 to $1.85 billion and that was a disappointment. Shares are down over $3.00 or more than 8% at $37.13 on more than 2.2 million shares in the after-hours.

Buffalo Wild Wings, Inc. (NASDAQ: BWLD) beat earnings substantially at $0.81 EPS versus a Thomson Reuters figure of $0.73 EPS. Same-store sales were up and it is opening 100 new locations. For some reason the company did not introduce “The Ring Stinger” as the hottest wing sauce available. Shares are up 4.7% at $63.30 on more than 50,000 after-hours shares.

Keynote Systems, Inc. (NASDAQ: KEYN) blew out earnings at $0.29 EPS versus $0.21 estimates; shares are up 9.9% at $23.35 on more than 32,000 after-hours shares.

LDK Solar Co., Ltd. (NYSE: LDK) lowered guidance after having closed up on the day by more than 3%… The company lowered revenue guidance by about $100 million in the first quarter but reaffirmed its 2011 range. Shares are down 4.55% at $10.90 on more than 2 million shares traded in the after-hours session.

MIPS Technologies, Inc. (NASDAQ: MIPS) is getting drilled after turning in $0.09 EPS versus $0.10 EPS estimates, but lower guidance is the real killer. Shares are down 12% at $9.40 on more than 365,000 after-hours shares.

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) is not an earnings play but it feels like one… The company turned in positive results with Sonfi-Aventis (NYSE: SNY) showing that the Phase III VELOUR trial evaluating ZALTRA in combination with the FOLFIRI chemotherapy regimen versus a regimen of FOLFIRI plus placebo met its primary endpoints of improving overall survival in the second-line treatment of metastatic colorectal cancer. Its shares are up 7.9% at $56.25 on more than 250,000 after-hours shares.

RF Micro Devices, Inc. (NASDAQ: RFMD) had a 23% drop in revenue and now the company sees a “flat to down 5%” revenue figure this quarter. RF chips and components aren’t universal winners, apparently. This one is down about 3.5% at $6.10 on nearly 300,000 after-hours shares.

SuccessFactors, Inc. (NASDAQ: SFSF) won but lost in its cloud-based business execution software solutions… The company SuccessFactors beat earnings estimates, guided Q2 revenues above consensus and it raised 2011 guidance. The company also announced that it was spending $290 million to acquire Plateau Systems for its leading learning management system, a Next Generation Portal technology, and CaaS- Content as a Service. SuccessFactors had a $3.15 billion market cap. The stock is down 8% at $37.05 on more than 230,000 after-hours shares.

Stay tuned, tomorrow has many earnings and we have a wild earnings reaction group already. You can 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: After-Hours Activity, Trading Alert Tagged: BRCM, BWLD, KEYN, LDK, MIPS, REGN, RFMD, SFSF

Top Analyst Upgrades and Downgrades (ANF, APD, AMZN, ACGL, BWLD, CSCO, GLW, ELN, ERJ, HES, JEC, LEAP, MOT, OGE, RY, SD, WBD)

Administrator — Mon, 06 Dec 2010 13:02:40 +0000

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

Abercrombie & Fitch Co. (NYSE: ANF) Added to Goldman Sachs Conviction Buy List.
Air Products & Chemicals Inc. (NYSE: APD) Reiterated Buy and raised target to $105 at Jefferies.
Amazon.com Inc. (NASDAQ: AMZN) Reiterated Neutral but Raised Target to $165 at Credit Suisse.
Arch Capital Group (NASDAQ: ACGL) Cut to Underweight at JPMorgan.
Buffalo Wild Wings Inc. (NASDAQ: BWLD) Raised to Strong Buy at Raymond James.
Cisco Systems Inc. (NASDAQ: CSCO) Raised to Outperform at Oppenheimer.
Corning Inc. (NYSE: GLW) Reiterated Buy with $24 target at BofA/ML.
Elan Corp. plc (NYSE: ELN) Raised to Buy at UBS.
EMBRAER (NYSE: ERJ) Started as Buy at Goldman Sachs.
Hess Corporation (NYSE: HES) Raised to Market Weight and $80 target at Credit Suisse.
Jacobs Engineering Group Inc. (NYSE: JEC) Raised to Buy at Canaccord.
Leap Wireless International Inc. (NASDAQ: LEAP) Cut to Hold at Auriga.
Motorola Inc. (NYSE: MOT) Reiterated Buy at BofA/ML.
OGE Energy Corporation (NYSE: OGE) Started as Outperform at Wells Fargo.
Royal Bank of Canada (NYSE: RY) Cut to Market Perform at KBW.
Sandridge Energy, Inc. (NYSE: SD) Raised to Buy at Stifel Nicolaus.
Wimm-Bill-Dan (NYSE: WBD) Raised to Neutral at Goldman Sachs.

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

JON C. OGG

Filed under: Analyst Calls Tagged: ACGL, AMZN, ANF, APD, BWLD, CSCO, ELN, ERJ, GLW, HES, JEC, LEAP, MOT, OGE, RY, SD, WBD