24/7 Wall St. » CAMP

24/7 Wall St. Closing Bell (AEO, RAM, TSRX, WAG, SCG, BASI, CAMP, RAM, NOA, FAC, PHH, MJN, SFLY)

Paul Ausick — Fri, 23 Dec 2011 21:04:41 +0000

Today’s opening on equity markets lifted stocks slightly on mixed economic news. New home and durable goods sales rose more than expected, but personal income and spending didn’t meet expectations, with income growth at just 0.1% in November compared growth of 0.4% in October. The Santa Claus rally continued all day on very light volume. WTI crude oil is up about 0.3% at $99.83/barrel and Brent crude is up just 0.06% at $107.96. Gold continues to fall, down to $1,607.10, a drop of -0.22%.

The unofficial closing bells put the DJIA up about 125 points to 12,294.68 (1.03%), the NASDAQ rose more than 19 points (0.74%) to 2,618.64, and the S&P 500 rose 0.9% or more than 11 points to 1,265.31.

There were several analyst upgrades and downgrades today, including American Eagle Outfitters Inc. (NYSE: AEO) cut from ‘buy’ to ‘hold’ at Standpoint Research; RAM Energy Resources Inc. (NYSE: RAM) raised from ‘market perform’ to ‘outperform’ at Rodman; Trius Therapeutics Inc. (NASDAQ: TSRX) started as ‘outperform’ at Robert W. Baird; Walgreen Co. (NYSE: WAG) maintained as ‘hold’ with a lowered price target of $36 at Jefferies; and Scana Corp. (NYSE: SCG) maintained as ‘buy’ with raised price target of $43 at Wunderlich.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Bioanalytical Systems Inc. (NASDAQ: BASI) is up more than 15% at $1.60 and CalAmp Corp. (NASDAQ: CAMP) is down more than -19% at $4.13. All told a light day for earnings reports.

Other standouts from today include the following stocks:

RAM Energy Resources Inc. (NASDAQ: RAM) is up nearly 21% at $2.43. The independent oil & gas company continues its run from yesterday, when if finished up more than 70% on news of re-listing on Nasdaq and a $550 million private equity investment.

North American Energy Partners Inc. (NYSE: NOA) is up more than 33% at $6.98. The oil field services company will resume its contract with Canadian Natural Resources Ltd. (NYSE: CNQ) pending a final contract signing.

First Acceptance Corp. (NYSE: FAC) is up nearly 33% at $1.36. A director of the insurance company bought 200,000 shares on Wednesday.

PHH Corp. (NYSE: PHH) is down more than -5% at $10.53. The mortgage servicer’s credit ratings were cut yesterday at S&P and the fallout continues.

Mead Johnson Nutrition Co. (NYSE: MJN) is down about -5.5% at $64.97. The food processing company had its Enfamil infant formula recalled at Wal-Mart Stores Inc. (NYSE: WMT) yesterday, and Walgreen’s, Safeway, Kroger, and Supervalu stores followed today.

Shutterfly Inc. (NASDAQ: SFLY) is down nearly -5% at $23.89. The Internet photo site cut its fourth-quarter guidance this morning.

Markets are closed Monday, December 26. Stay tuned for Tuesday. Here are the noteworthy events on the schedule (all times Eastern):

9:00 a.m. – S&P Case-Shiller housing price index
10:00 a.m. – Conference Board consumer sentiment index
10:00 a.m. – State Street investor confidence index

Have a Merry Christmas Day and great weekend.

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AEO, BASI, CAMP, FAC, MJN, NOA, PHH, RAM, SCG, SFLY, TSRX, WAG

Morning Movers (SPWR, BASI, RMBS, SKY, CAMP)

Paul Ausick — Fri, 23 Dec 2011 15:22:25 +0000

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include SunPower Corp. (NASDAQ: SPWR), Bioanalytical Systems Inc. (NASDAQ: BASI), Rambus Inc. (NASDAQ: RMBS), Skyline Corp. (NYSE: SKY), and CalAmp Corp. (NASDAQ: CAMP).

After the first half hour of trading this morning, SunPower is up nearly 8% at $6.31. Volume has already passed the company’s daily average. The solar panel maker agreed to buy solar company Tenesol from Total SA (NYSE: TOT) for $165 million. SunPower will pay for the acquisition with 18.5 million new shares issued to Total, at a per share price of $8.80, about 50% higher than yesterday’s closing price.

Bioanalytical Systems is up nearly 8% at $1.50. Volume has already doubled the daily average. The biopharmaceutical company reported good earnings earlier this week.

Rambus is up more than 15% at $8.42. Volume is already equal to the daily average. The semiconductor memory chip maker has reached a patent licensing agreement with Broadcom Corp.

Skyline is down more than -8% at $4.30, after posting a new 52-week low of $4.14. Volume already surpasses the daily average. The manufactured home builder has been dropped from the S&P 600 index.

CalAmp is down more than -13% at $4.44. Volume is double the daily average. The wireless technology company reported lower-than-expected earnings this morning.

Paul Ausick

Filed under: HI/LOW, Market Open Tagged: BASI, CAMP, RMBS, SKY, SPWR

The 52-Week Low Club (May 18, 2007)

247wallst — Fri, 18 May 2007 15:34:25 +0000

Despite day after day of the "New DJIA High" headlines some companies keep going the opposite direction and put in new 52-week lows. This little piggy went to market…..

Atherogenics (AGIX)…. Keeps drifting lower. $140 million implied cash on the books, but negative liquidity with the debt. Maybe it’s easier to be in the parachute business.

CalAmp (CAMP).. Customer issues hurting earnings results, and shareholders.

Gaming Partners (GPIC)… Not all casino suppliers are doing well, even if the company customers are.

Healthcare Realty (HR)… This is and was surprising. Now you have to wonder if that 8% divdend is going to be real.

JDS Uniphase (JDSU)… Dark fiber, is it 2000 all over again?

JAPAN SMALLER CAP FUND (JOF)… this was surprising, even though we usually leave funds off the list.

Shoe Pavilion (SHOE)… must have Digger selling the shoes or it must be smelly feet.

Sonic Solutions (SNIC).. lower revenues, a Roth downgrade, and breaking the sound barrier the way the test pilots did before Chuck Yeager made it.

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.