24/7 Wall St. » CVO

24/7 Wall St. Closing Bell (FSLR, MA, WAG, WEN, SD, DVR, EIX, NKTR, SSW, BID, DRC, JRCC, KR, MSO, ARCT, PEGA, CVO, TUDO, FFN)

Paul Ausick — Thu, 01 Mar 2012 21:08:23 +0000

The three major US equities indexes opened higher this morning after another (small) drop in new unemployment benefits claims and a good, but smaller-than-expected, rise in personal income and spending data (our coverage here). Lower-than-expected ISM manufacturing data was countered by generally good reports from retailers on February same-store sales (our coverage here). By mid-afternoon, the DJIA turned south and has given back more than 50 points though the average still remains in positive territory for the day. Crude oil is up sharply today, with WTI crude closing up 1.7% at $108.84/barrel and Brent crude up more than 4% at $127.70/barrel. Gold settled up 0.6% at $1,722.20/ounce.

The unofficial closing bells put the DJIA up more than 28 points to 12,980.30 (0.22%), the NASDAQ rose more than 22 points (0.74%) to 2,988.97, and the S&P 500 rose 0.62% or more than 8 points to 1,374.09.

There were several analyst upgrades and downgrades today, including First Solar Inc. (NASDAQ: FSLR) maintained ‘buy’ but target price lowered to $50 at Argus (more coverage here); Mastercard Inc. (NYSE: MA) started as ‘neutral’ at UBS; Walgreen Co. (NYSE: WAG) cut to ‘underperform’ at BofA/ML; Wendy’s Co. (NYSE: WEN) cut to ‘neutral’ at Janney; and SandRidge Energy Inc. (NYSE: SD) cut to ‘sell’ at Canaccord Genuity.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Cal Dive International Inc. (NYSE: DVR) is up 8.8% at $3.16; Edison International (NYSE: EIX) is up 1.9% at $42.65 after posting a new 52-week high of $44.40 earlier today; Nektar Therapeutics (NASDAQ: NKTR) is up 2.4% at $7.35; Seaspan Corp. (NYSE: SSW) is up 6.1% at $18.32; Sotheby’s (NYSE: BID) is down -10.2% at $35.32 (more coverage here); Dresser Rand Group Inc. (NYSE: DRC) is down -1.2% at $51.91; James River Coal Co. (NASDAQ: JRCC) is up 10.7% at $6.34; Kroger Co. (NYSE: KR) is up 2.2% at $24.32; and Martha Stewart Living Omnimedia Inc. (NYSE: MSO) is down -3.2% at $4.36.

Other standouts from today include the following stocks:

American Realty Trust Inc. (NASDAQ: ARCT) is up more than 73% at $10.40. The commercial real estate company came public this morning at $6/share, along with a tender auction to purchase up to $220 million worth of shares at a price not higher than $11/share and not less than $10.50/share.

Pegasystems Inc. (NASDAQ: PEGA) is up nearly 34% at $37.50. The business software maker beat earnings estimates last night.

Cenveo Inc. (NYSE: CVO) is up nearly 26% at $4.91. The printing company reported better-than-expected earnings last night, and has kicked off a tender offer to redeem about $460 million in debt.

Tudou Holdings Inc. (NASDAQ: TUDO) is down nearly -17% at $13.30. The Chinese online video company reported better-than-expected revenues last night, but soaring costs led to a net loss.

FriendFinder Networks Inc. (NASDAQ: FFN) is down nearly -14% at $1.76. The adult social networking company’s credit rating was cut this morning by S&P.

Stay tuned for Friday. Chicago Fed president Charles Evans and St. Louis Fed president James Bullard are giving speeches. There are no other events of note scheduled for tomorrow.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ARCT, BID, CVO, DRC, DVR, EIX, FFN, FSLR, JRCC, KR, MA, MSO, NKTR, PEGA, SD, SSW, TUDO, WAG, WEN

Mid-day Movers (ARCT, PEGA, CVO, TUDO, FFN)

Paul Ausick — Thu, 01 Mar 2012 17:13:34 +0000

At about noon today, all three major US stock indexes have managed to post gains, with the DJIA down nearly 43 points at about 12,995, the Nasdaq down more than 19 points at 2,986, and the S&P 500 up more than 7 points to around 1,373. After opening higher this morning, markets dropped on weak US manufacturing data, but retail sales reports for February have buoyed the market a bit (our coverage here). The dollar is weaker today, with the dollar index down -0.11% at 78.735. The stronger dollar is pushing some commodities up, with crude oil and lumber among the leaders.

Among the major movers at around noon today are American Realty Trust Inc. (NASDAQ: ARCT), Pegasystems Inc. (NASDAQ: PEGA), Cenveo Inc. (NYSE: CVO, Tudou Holdings Inc. (NASDAQ: TUDO), and FriendFinder Networks Inc. (NASDAQ: FFN).

American Realty is up 67% at $10.00. Volume is already 2.4 million shares traded. The commercial real estate company came public this morning at $6/share, along with a tender auction to purchase up to $220 million worth of shares at a price not higher than $11/share and not less than $10.50/share.

Pegasystems is up more than 28% at $36.08. Volume is already more than 5x the daily average of 241,000 shares traded. The business software maker beat earnings estimates last night.

Cenveo is up nearly 26% at $4.91. Volume is already more than 4x the daily average of around 420,000 shares traded. The printing company reported better-than-expected earnings last night, and has kicked off a tender offer to redeem about $460 million in debt.

Tudou is down more than -15% at $13.57. Volume is already about 4x the daily average of around 44,000 shares traded. The Chinese online video company reported better-than-expected revenues last night, but soaring costs led to a net loss.

FriendFinder Networks is down nearly -12% at $1.80. Volume is already about 80% of the daily average of around 680,000 shares traded. The adult social networking company’s credit rating was cut this morning by S&P.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ARCT, CVO, FFN, PEGA, TUDO

52-Week Lows, Massive List (ALU, BGP, CELL, BBW, CVO, DENN, GCI, INFY, INTU, KLAC, NT, NWA, NXTM, PDLI, PFE, Q, SVVS, SNE, BID, TWX)

247wallst — Fri, 14 Mar 2008 15:04:56 +0000

This was a massive list of lows today. Not all closed on lows, but the list was chopped down greatly just to accommodate the size of it. If you look at the list, there are no brokerage firms listed nor anymajor banks. The major banks weren’t hitting the list but mostbrokerage firms were. You can thank a firm called Bare Spurns for that. Here goes the eulogy:

Advance America (NYSE: AEA).. down over 10%, no real news released; financial exposure, although they are probably getting more and more pay day loans now. $6.08 at 3:30, old low $6.08.
Alcatel-Lucent (NYSE: ALU)… down almost 5% at $5.29, although late day got back above that $5.27 year low.
Borders Group (NYSE: BGP)… down another 6% ahead of earnings next week. The people that still buy books may be headed to the used book stores in tough times. Maybe even the library.
Brightpoint (NASDSAQ: CELL)… day in and day out this one has been getting hit.
Build-a-Bear Workshop (NYSE: BBW)… now it can be even more opportunistic after ending strategic review and adding a larger buyback plan.
Cenveo (NYSE: CVO)… down 14% after earnings.
Denny’s (NASDAQ: DENN)… under $3.00 now… stock cheaper than the Grand Slam breakfast? Maybe people can’t afford $3.00 breakfasts.
Gannett Co. Inc. (NYSE: GCI)… after earnings people still wary of newspaper operations.
General Motors (NYSE: GM)… flirting with 5-year lows.
Infosys Tech (NASDAQ: INFY)… This didn’t close under the old $33.80 low of the year, but was there intraday. Maybe outsourcing is peaking.
Intuit (NYSE: INTU)… had no news, that pre-tax season trade getting cheaper and cheaper.
KLA-Tencor (NASDAQ: KLAC) hit hard again after downgrade already shaved off almost 10% earlier in wee. Down 4.4% at $36.40 with 15 minutes to close.
Nortel Networks (NYSE: NT) at $6.34 at 3:45… High is $27.71. What more can you say? It’s always on the list.
Northwest Airlines (NYSE: NWA) down over 3.5% at $9.50 with 15 minutes to close. What ever happened to that merger they were supposed to be in?
Nxstage Medical (NASDAQ: NXTM)… are kidney dialysis treatments economically sensitive?
PDL Biopharma (NASDAQ: PDLI).. so much for that buyout hope, that’s already been called off. Almost under a $1 Billion market cap.
Pfizer (NYSE: PFE)… a true surprise to see this one here again. Will it bust $20? Shares down 3% at $20.55 with 10 minutes to close.
Qwest Communications (NYSE: Q)…. now under $5.00.
Savvis Inc. (NASDAQ: SVVS)… down more than 5% to under the old $15.14 low. Doing IT, bandwidth, storage, network infrastructure, not as great when you have huge exposure to financial institutions.
Sony Corp. (NYSE: SNE)… just when it was getting its act back together… $41.81 right before close; old 52-week low was $42.10.
Sothebys (NYSE: BID)… down more than half from highs. Wall Street’s "Even the rich are bitching!" must apply to high-end auctioneers too.
Time Warner (NYSE: TWX)….. now under $14.00.

Jon C. Ogg
March 14, 2008

Pre-Market Stock News (July 17, 2007)

247wallst — Tue, 17 Jul 2007 07:02:25 +0000

(ADTN) Adtran $0.28 EPS versus $0.28 estimate.
(AIZ) Assurant CEO and CFO received SEC WELLS NOTICE.
(ASD) American Standard noted as a positive ahead of split-up by Cramer on MAD MONEY.
(CVO) Cenveo is acquiring Commercial Envelope.
(DJ) Dow Jones has reportedly reached some terms with News Corp. over the merger according to WSJ reports; actual status varies from source to source so consider this still an outstanding issue until formal statements are made from one or both companies.
(ELS) Equity Lifestyle $0.59 EPS vs $0.58 estimate.
(ENCY) Encysive retained Morgan Stanley to assist in strategic review.
(FCFS) First Cash Financial $0.27 EPS vs $0.26 estimate.
(JNJ) J&J $1.05 EPS vs $1.00 estimate.
(KEY) KeyCorp $0.86 EPS vs $0.70e; raised guidance as well, but unsure if comparable.
(KO) Coca-Cola $0.85 EPS vs. $0.82 estimate.
(LYO) Lyondell is being acquired by Basell for $48.00 per share.
(MDT) Medtronic received approval for artificial disc for the neck.
(MER) Merrill Lynch $2.24 EPS vs $2.02 estimate.
(NLS) Nautilus traded down 12% after earnings.
(PHTN) Photon Dynamics sees results under plan for Q3.
(PHG) Philips Electronics noted positively as European play by Cramer on MAD MONEY.
(RF) Regions Financial $0.69 EPS vs $0.69 estimate.
(STT) State Street $1.07 EPS vs $1.01 estimate.
(WFC) Wells Fargo unveiled a money transfer program.
(WGOV) Woodward Governor noted positively by Cramer on MAD MONEY.
(XLNX) Xilinx’s Spartan-3E and MicroBlaze soft processor selected for Samsung Electronics’ latest digital video surveillance system.

Jon C. Ogg
July 17, 2007

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