Posts for Ticker ‘CSC’

Today’s Best Market Rumors (10/30/2009) (C)(CSCO)(SAPE)(DOX)(CTSH)

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Updated throughout the day.

Updated 3.23 PM EST:  Analyst Michael Mayo says Citigroup (NYSE:C) will take a $10 billion write down the quarter. Citi denies it (CNBC)

Updated 10.24 AM EST:  Cisco (NSADAQ:CSCO) may drop its bid for Tandberg  (Barron’s)

Venezuela may have gold reserves with a total value over $13 billion.  (CNBC)

JP Morgan (NYSE:JPM) may have had concerns about Galleon as early as 2001 (Financial Times)

Likely near-term tech acquisition targets include Sapient (NASDAQ:SAPE), Computer Sciences (NYSE:CSC), WNS (NYSE:WNS), Amdocs (NYSE:DOX), Cognizant Technology (NASDAQ:CTSH) and ExlService (NASDAQ:EXLS) (Reuters)

Time Warner (NYSE:TWX) may spin-off AOL in December  (TheStreet.com)

CIT (NYSE:CIT) is likely to file for bankruptcy in the next few days.  (Reuters)

Cargill is the largest private company in the US followed closely by Koch Industries  (Forbes)

Douglas A. McIntyre

Posted on: October 30, 2009 – 9:02 am in Rumors, , , , , , , , , , ,

Top Analyst Upgrades (AMR, ANSW, ABX, CSCO, CAL, CSC, EMC, GG, HOG)

These are this Wednesday’s early upgrades and positive research calls which we have seen out of Wall Street firms this morning:

AMR Corp. (AMR) Raised to Overweight at Barclays.
Answers Corp. (ANSW) Raised to Buy at Canaccord.
Barrick Gold (ABX) Raised to Overweight at JP Morgan.
Cisco Systems (CSCO) Started as Outperform at Wells Fargo.
Continental Airlines (CAL) Raised to Equal Weight at Barclays.
Computer Sciences (CSC) Raised to Neutral at Goldman Sachs.
EMC Corp. (EMC) Raised to Overweight at Thomas Weisel.
Goldcorp (GG) Raised to Overweight at JP Morgan.
Harley-Davidson (HOG) Raised to Outperform at Wells Fargo.

You can join our open email distribution list to get updates each morning on analyst upgrades and downgrades, top day trader alerts, IPO’s and secondary offerings, Warren Buffett and other guru activity, M&A and more.

JON C. OGG
October 14, 2009

Posted on: October 14, 2009 – 7:41 am in Analyst Calls, , , , , , , , ,

Top Technology Analyst Calls (BBND, CSC, ELX, GRMN, QCOM, STX, WBSN, WDC)

We have seen several influential analyst upgrades, downgrades, and initiation calls in the technology sector from Wall Street early this Wednesday morning.  These are the key tech calls we have seen with about two hours until the open:

  • BigBand Networks (NASDAQ: BBND) Cut to Underperform at Jefferies.
  • Computer Sciences Corp. (NYSE: CSC) Started as Sell at Citigroup.
  • Emulex (NYSE: ELX) Cut to Underweight at JPMorgan.
  • Garmin Ltd. (NASDAQ: GRMN) Cut to Neutral at Baird.
  • Qualcomm (NASDAQ: QCOM) Started as Outperform at FBR.
  • Seagate Tech (NASDAQ: STX) Cut to Neutral at JPMorgan.
  • Websense (NASDAQ: WBSN) Raised to Outperform at FBR.
  • Western Digital (NYSE: WDC) Raised to Neutral at JPMorgan.

JON C. OGG

Posted on: April 8, 2009 – 6:41 am in Analyst Calls, Technology Companies, , , , , , , ,

Key Analyst Downgrades (CSC, HPC, JBX, RMD, SAPE, HOT, TRIN, WB)

These are some of the preliminary downgrades or negative research calls seen out of Wall Street analysts this Monday morning in early morning hours:

  • Computer Sciences Corp. (NYSE: CSC) Cut to Sell from Neutral at Goldman Sachs.
  • Hercules (NYSE: HPC) Cut to Hold from Buy at Deutsche Bank.
  • Jack In The Box (NYSE: JBX) Cut to Buy from Strong Buy at Wedbush Morgan.
  • Resmed (NYSE: RMD) Cut to Underweight at Morgan Stanley.
  • Sapient (NASDAQ: SAPE) Cut to Sell from Neutral at Goldman Sachs.
  • Starwood Hotels (NYSE: HOT) Cut to Sell at Goldman Sachs.
  • Thomson Reuters (NASDAQ: TRIN) Cut to Sell from Neutral at UBS.
  • Wachovia (NYSE: WB) Cut to Neutral at UBS.

Jon C. Ogg
July 14, 2008

Posted on: July 14, 2008 – 6:31 am in Analyst Calls, , , , , , , ,

H-P Confirms EDS Talks, Who’s Next? (EDS, HPQ, ACN, CSC, ACS, PER, UIS, ACXM, BE)

As traders look to the news covering whether or not Electronic Data Systems Corporation (NYSE: EDS), there was a release from Hewlett-Packard Co. (NYSE: HPQ) that confirmed the two companies were engaged in merger talks but there were no assurances that a deal could be reached. As a result, there are many other tech and IT-sourcing companies to look at that other players may take an interest in.  Keep in mind that many of these large tech companies do not want to be involved in being acquired and some of the companies will have stronger takeover provisions.  Everyone of these companies are different, yet all are in overlapping areas.  Here is a handful of names that could fall under that sort of tie-up if the deal comes to pass:

  • Accenture Ltd. (NYSE: ACN), although maybe too large;
  • CA, Inc. (NYSE: CA);
  • Computer Sciences Corp. (NYSE: CSC);
  • Affiliated Computer Services, (NYSE: ACS);
  • Perot Systems Corp. (NYSE: PER);
  • Unisys Corp. (NYSE: UIS);
  • Acxiom Corp. (NASDAQ: ACXM);
  • Bearingpoint, Inc. (NYSE: BE)…..

If we took the mid-point of the pricing at $12.5 Billion we would have a rough share price of $25.00 per share on EDS.  At that rough price, you would have a company that analysts expect to be priced at 18.2 times DEC-2008 earnings and 0.55-times revenue estimates.

Any such deal for EDS would likely have to come in the form of a friendly buyout.  This company doesn’t protect itself as hard as other companies, but Capital IQ does note the following tools the company has:

  • Removal of directors only for cause;
  • Board can change size of members;
  • Advanced Notice for director nominations;
  • Move by 50% of shareholders to remove directors;
  • Board Indemnification;
  • Blank Check Preferred Stock.

EDS is seemingly involved in more aspects of IT outsourcing and consulting than it isn’t.  Because of the rate that IT-workers come and go inside the Indian IT-outsourcing companies and because of laws restricting total foreign ownership in India, we did not include the public Indian-IT operations in this report 

You can join our open email distribution list to hear about other mergers, IPO’s, spin-offs, secondary offerings, and other special situations.

Jon C. Ogg
May 12, 2008

Posted on: May 12, 2008 – 3:17 pm in Mergers and Buy Outs, Rumors, Technology Companies, , , , , , , , ,

52-Week Low Club (AA, BT, CVC, CECO, CSCO, CLWR, CPWR, CSC, COCO, EBAY, ELOY, ENER, ESI, MOT)

These are not at all the only stocks we saw hitting 52-week lows.  These are the main names we follow that closed lower and that challenged their 52-week lows:

  • ALCOA (AA) opened at new 52-week lows but managed to close above the low; down almost 1% today.
  • BT Group (PLC) down almost 8% after U.K. markets were open yesterday and we weren’t.
  • Boeing (BA) opened at new 52-week lows but managed to close above the low; still -1% today.
  • Cablevision (CVC)… I bet Mr. Gabelli wants that old Dolan buyout offer now.
  • Career Education (CECO) down 14% after Sallie Mae terminated its loan program, ouch.
  • Cisco Systems (CSCO) down 3.6% more… so much for enterprise tech spending?
  • Clearwire (CLWR) down almost 8% to $11.48…post-IPO lows.
  • Compuware (CPWR) down 4% to $6.38, after only announcing its earnings date.
  • Computer Science Corp. (CSC) closed barely under the $38.65 prior low at $38.61.
  • Corinthian Colleges (COCO) fell 30% after Sallie Mae terminated its loan program.
  • eBay (EBAY) on Meg Whitman leaving; earnings tomorrow.
  • eLoyalty (ELOY) down 8% to $9.02; prior low $9.48.
  • Energy Conversion Devices (ENER) down 6% and barely managed to close above 52-week lows on a weak alternative energy sector.

….And that is just through the majors starting with "E".

  • ITT Education Serivces (ESI) down 15% after Sallie Mae terminated loan programs.
  • Motorola (MOT) still losing ground despite Icahn’s efforts…. guess who is a huge Sprint Nextel wireless phone supplier?

Jon C. Ogg
January 22, 2008

Posted on: January 22, 2008 – 4:16 pm in HI/LOW, , , , , , , , , , , , , ,

Many Major Tech, Media, Telecom Hitting New 52-Week Lows

With about 20 minutes to go into the close and on one ugly day, we have the DJIA down nearly 300 points, the NASDAQ down almost 40 points, and even the S&P 500 down over 35 points.  We have been commenting about the recession for some time now and this is going from the good to the bad to the fugly.  Of course financials, REIT’s, retail, and other classic sectors had more than their fair share of 52-week lows.  But Telecom, Media, and Tech reached these critical 52-week lows and these are looking horrible. 

The markets are hostage to the ratings agencies now.  Here is what happens when you look at "VALUE INVESTING" in technology:

Alliance Data (ADS), Answers (ANSW), ATMI Inc. (ATMI), BigBand Networks (BBND), British Sky ADR’s (BSY), CA inc. (CA), CBS Corp. (CBS), Century Tel (CTL), Cincinatti Bell (CBB)…

Cisco Systems (CSCO) is a new entrant, this was surprising but those teen prices were in 2006.

Cogent (COGT), Cohu Inc. (COHU), Computer Science (CSC), Compuware (CPWR), DireTV (DTV),
Echostar (DISH).. unsure because of reorg…, Emulex (ELX), Epicor Software (EPIC), General Electric (GE), Getty Images (GYI), Gluu Mobile (GLUU), Hungarian Telecom (HTC), Internet Capital Group (ICGE), Interactive Intelligence (ININ), J2 Global (JCOM), ML Internet HOLDRs (HHH), ML Telecom HOLDRs (TTH), PlanetOut (LGBT), Liberty Media (LINTA), Loral Space (LORL), Live Nation (LYV), Sourcefire (FIRE), Flextronics (FLEX), Monster Worldwide (MNST)….

Motorola (MOT), Martha Stewart (MSO), Mattson Tech (MTSN), Network Appliance (NTAP), Orbitz Worldwide (OWW), Plantronics (PLT), Powershares Dynamic Media (PBS), Qwest Communications (Q), RCN Corp. (RCNI), RF Micro Devices (RFMD), Riverbed Tech (RVBD), Savvis (SVVS), Sprint Nextel (S), SiRF Tech (SIRF), Stamps.com (STMP), Time Warner (TWX), Trimble Navigation (TRMB), Veeco Inst. (VECO), Vishay (VSH), Voltera Semiconductor (VLTR), Xinhua Finance Media (XFML) ,

Yahoo! (YHOO) ouch.

This is almost enough to make many people cry.  The VIX is trading at 27.34 and is up 2.96 points but we aren’t even at 30 yet meaning that massive critical oversold and true panic levels haven’t yet been reached.

Jon C. Ogg
January 17, 2008

Posted on: January 17, 2008 – 3:51 pm in HI/LOW, Media, Technology Companies, Telecom, , , , , , , , , , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (ACS, DOX, BBBY, ESRX, HD, LOW, NWA, RFMD, SHLD, UA, ADP, BE, CSC, PAYX, SAPE, HEW)

These are not the only key analyst calls that may impact stocks this Monday, but these are the ones that 24/7 Wall St. is focusing on:

  • Affiliated Computer (ACS) raised to Buy from Neutral at UBS.
  • Amdocs (DOX) raised to Buy from Neutral at UBS.
  • Bed Bath & Beyond (BBBY) raised to Outperform from Neutral at Credit Suisse.
  • Express Scripts (ESRX) downgraded to Neutral from Overweight at JP Morgan.
  • Home Depot (HD) & Lowe’s (LOW) both raised to Outperform from Neutral at Credit Suisse.
  • Northwest Airlines (NWA) raised to Outperform from Neutral at Credit Suisse.
  • RF Micro Device (RFMD)raised to Buy from Hold at Deutsche Bank.
  • Sears Holdings (SHLD) downgraded to Underperform from Outperform at Credit Suisse.
  • Under Armour (UA) raised to Buy from Hold at Citigroup.

UBS Downgrades IT and Outsourcing/Business Process sector:

  • Automatic Data (ADP), BearingPoint (BE), Computer Sciences Corp. (CSC), Paychex (PAYX), and Sapient (SAPE) were all downgraded from BUY to NEUTRAL;
  • Hewitt Associates (HEW) downgraded from Neutral to Sell.

Jon C. Ogg
January 14, 2008

Posted on: January 14, 2008 – 7:36 am in Analyst Calls, , , , , , , , , , , , , , , ,

Pre-Market Stock News (August 15, 2007)

(AMAT) Applied Materials trading down 3% after yesterday’s earnings.
(CSC) CSC said it is part of a large government pact that will result in close to $900 million to CSC.
(DE) Deere $2.37 EPS vs $1.99 est.; sees 2007 inline with estimates.
(ERJ) Embraer SA $0.36 EPS vs $0.45 est.; unsure if comparable because of ADR.
(ETFC) E*TRADE said July averagge trades grew 20.8% sequentially, but said total retail assets decresed 1.9% and margin debt rose 5.5%; has been increasing share buyback activities.
(GNW) Genworth is meeting with investors to discuss its investment portfolio, including subprime and alt-A mortgage loans.
(HW) Headwaters CFo is leaving to becoming CFo of a private company.
(IAG) IAMGOLD $0.04 EPS vs $0.07 est.
(M) MAcy’s $0.29 EPS vs $0.26 est.
(SIRI) SIRIUS Satellite Radio Introduces the Stiletto 2.
(SLE) Sara Lee $0.17 EPS vs $0.13 est.; 2008 earnings guidance may be light.
(TSEM) Tower Semi -0.28 EPS vs -$0.31 est.
(WBSN) Websense names new CFO.
(ZOLT) Zoltek priced a 4M share secondary at $38.76.

Jon C. Ogg
August 15, 2007

Posted on: August 15, 2007 – 7:32 am in Pre-Market Activity, , , , , , , , , , , , , ,

Pre-Market Stock News (June 6, 2007)

(AAUK) Anglo American’s CEO will become a non-executive member of the board of directors at BP (BP).
(ACAD) Acadia Pharmaceuticals traded up over 10% after Jim Cramer touted the stock as a speculative play for trading the upcoming data on its schizophrenia and Parkinson’s treatment.
(ACOR) Acorda Therapeutics Starts Second Phase 3 Trial of Fampridine-SR in MS
(AMTD) TD AMERITRADE was notified that JANA and S.A.C. funds have secured an interest of roughly 8.6% stake to pressure the companies to enter a merger.
(AZN) AstraZeneca CFO leaves to join Goldman Sachs.
(CROX) Crocs is launching a fashionable line of high heel and flats for women to appeal to fashion conscious women.
(CSC) Computer Sciences Corp. may look to acquire iSoft Group plc in the UK.
(ETFC) E*Trade trading up 3% on AMERITRADE news.
(FCS) Fairchild Semiconductor reaffirmed Q2 growth targets.
(GSK) GlaxoSmithkline defends Avandia saying it does not increase heart risks.
(KFY) Korn Ferry $0.37 adjusted EPS versus $0.34 estimates.
(MAIR) MAIR Holdings -$0.06 EPS vs -$0.05e.
(PNRA) Panera trading down $7.00 on an earnings warning of $0.38-0.40 vs $0.47-0.51e.
(PLUG) Plug Power named new CFO.
(PRU) Prudential lays off 420 in a research phase out, will cease covering all equities immediately.
(RUS) Russ Berrie rejected an $18.00 buyout as an undervalued deal.
(SCHW) Charles Schwab traded up 1% after the AMERITRADE news.
(SIRI) Sirius Satellite Radio announced a $250 million term-loan from Morgan Stanley.
(STAR) Starent priced a 10.5 million share IPO at$12.00, above the $9.00 to $11.00 range.
(WFMI) Whole Foods is facing a deal blockage by the FTC over a ‘natural foods market disruption’ according to FTC.

Jon C. Ogg
June 6, 2007

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

Posted on: June 6, 2007 – 7:13 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , ,