Posts for Ticker ‘D’

Top 10 Analyst Upgrades, Downgrades, Initiations (AFL, BRCM, DDS, D, INTC, MRVL, BTU, RTP, STP, TXN)

These are Friday morning’s top 10 analyst upgrades, downgrades, and initiations we have seen early this morning in Wall Street research calls:

AFLAC (NYSE: AFL) Raised to Overweight at Morgan Stanley.
Broadcom Corp. (NASDAQ: BRCM) Started as Outperform at BMO Capital Markets.
Dillard’s (NYSE: DDS) Raised to Buy at Deutsche Bank.
Dominion (NYSE: D) Cut to Sell at Citigroup.
Intel Corp. (NASDAQ: INTC) Started as Outperform at BMO Capital Markets.
Marvell Technology (NASDAQ: MRVL) Started as Outperform at BMO Capital Markets.
Peabody Energy (NYSE: BTU) Removed from Conviction Buy List (still Buy rated) at Goldman Sachs.
RioTinto (NYSE: RTP) Cut to Underperform at Credit Suisse.
Suntech Power (NYSE: STP) Raised to Hold at Soleil.
Texas Instruments (NYSE: TXN) Started as Outperform at BMO Capital Markets.

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JON C. OGG
NOVEMBER 20, 2009

Posted on: November 20, 2009 – 8:05 am in Analyst Calls, Technology Companies, , , , , , , , , ,

Another Utility Misses Estimates (ETR, D, AEP, CHK)

power-lines-imageEntergy Corporation (NYSE:ETR) joined the ranks of electricity generators that haven’t been able to reach consensus estimates for the first quarter of 2009.The company’s results resemble the earlier reports from Dominion Resources, Inc. (NYSE:D) and American Electric Power Co. Inc. (NYSE:AEP), where lower demand, especially from industrial customers, really hurt sales.

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Posted on: May 4, 2009 – 8:11 am in Earnings, Utilities, , , ,

Dominion Rises on Earnings (D)

Dominion Resources Inc. (NYSE:D) reported fourth quarter and full year results this morning, and the news was mixed. For the quarter, EPS hit $0.60 on $348 million in income, compared with EPS of $0.52 last year on income of $299 million. Revenue was $4.17 billion. Analysts expected EPS of $0.68 on revenue of $3.51 billion.

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Posted on: January 29, 2009 – 11:01 am in Earnings, Utilities,

Top Analyst Upgrades & Downgrades (CEG, DENN, ODSY, ARO, D, EXEL, JNJ, VOCS, ZGEN)

These are some of the other non-tech analyst upgrades and downgrades from Wall Street firms this Wednesday morning:

  • Constellation Energy (CEG) Raised to Buy at Jefferies.
  • Denny’s (DENN) Raised to Buy at Merriman Curhan Ford.
  • Odyssey Healthcare (ODSY) Raised to Neutral at JPMorgan.
  • Aeropostale (ARO) Cut to Market Perform at FBR.
  • Dominion Resources (D) Cut to Underperform at Jefferies.
  • Exelixis (EXEL) Cut to Neutral at Piper Jaffray.
  • Johnson & Johnson (JNJ) Cut to Neutral at JPMorgan.
  • Vocus (VOCS) Cut to Neutral at Piper Jaffray.
  • Zymogenetics (ZGEN) Cut to Neutral at Piper Jaffray.

Here are the technology upgrades and downgrades.

Jon C. Ogg
October 29, 2008

Posted on: October 29, 2008 – 7:08 am in Analyst Calls, , , , , , , , ,

Going Nuclear Into Elections (EXC, NRG, D, DUK, PGN, AEE)

Nuclear_power_picElectric utility Exelon (NYSE:EXC) this morning revised guidance for 2008 to a range of $4.15 – $4.30 per share from $4.00 – $4.40 per share. That’s measured on non-GAAP operating earnings; on GAAP earnings, the company adjusted its guidance from $3.70-$4.10/share to $3.90-$4.30/share. The press release cited mark-to-market adjustments in hedging, asset impairments, and costs associated with rate and litigation settlements. Analysts had been predicting GAAP earnings of $4.36/share. The company also announced a share buyback program that will total $1.5 billion over the next six months.  This might just be only the tip of the iceberg in nuclear power during an election year.

Exelon is joining nine other companies that have filed applications with the NRC to build 29 new reactors in the US. NRG Energy (NYSE:NRG), Dominion (NYSE:D), Duke Energy (NYSE:DUK), Progress Energy (NYSE:PGN), and Ameren Energy (NYSE:AEE) among others have also filed construction and operating license applications with the NRC.

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Posted on: September 4, 2008 – 9:29 am in Infrastructure, Nuclear, Utilities, , , , , ,

Pre-Market Stock News (June 28, 2007)

(AAPL) Apple’s iPhone launches tomorrow.
(ABPI) Accentia Biopharma announced favorable interim blinded data on SinuNase in its fast-tracked pivotal Phase III clinical trial.
(ALVR) Alvarion in pact with Australian government over a WiMAX contract for rural and regional broadband.
(AMSC) American Superconductor won two new Dept of Energy superconductor power grid projects totaling $21.7 million.
(ATML) Atmel $0.06 EPS vs $0.05e.
(BBBY) Bed Bath & Beyond $0.38 EPS vs $0.37e.
(BZH) Beazer Homes fired chief accounting officer.
(CAMD) California Micro lowered guidance.
(CRMT) America’s Car-Mart $0.12 EPS vs $0.10e.
(D) Dominion will initiate a modified Dutch Auction for roughly 55 million shares of its own common stock.
(DRIV) Digital River traded down more than 10% after an earnings warning.
(F) Ford announced zero percent financing incentives for 3-years.
(GIS) General Mills $0.62 EPS vs $0.63e.
(GRB) Gerber Scientific $0.24 EPS vs $0.23e.
(IMA) Inverness Medical announces FDA clearance of the BinaxNOW malaria antigen detection rapid test.
(KBH) KB Homes -$1.93 EPS vs $0.07e; unsure if charges are in numbers.
(NVLS) Novellus guides orders and bookings toward lower-end of prior range.
(PALM) Palm announces earnings after the close.
(PAYX) Paychex $0.36 EPS vs $0.36e.
(PLA) Playboy is opening a Playboy Mansion in Macau in 2009 according to USA Today.
(RAD) Rite-Aid $0.04 EPS vs -$0.01 estimate; unsure if comparable.
(RHT) Red Hat $0.16 EPS & $118.9M revenues (estimates were $0.15/$117.15M).
(RIMM) R-I-M announces earnings after the close.
(STZ) Constellation Brands names Rob Sands CEO effective July 26.
(TASR) Taser formed an alliance with iRobot.
(VOD) Vodafone is in talks to get Apple’s iPhone exclusive in Europe.

Jon C. Ogg
June 28, 2007

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

Posted on: June 28, 2007 – 7:17 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , , , ,

Cramer’s New Oil & Gas Play (XTO)

Jim Cramer on tonight’s MAD MONEY has an oil stock pick since the energy companies are not reinvesting in exploration and wildcatting.  One oil company that exploits higher oil prices is XTO Energy (XTO-NYSE).  He says he went ahead and bought some for his charitable trust yesterday so he’d own the best wildcatter in the US.

It has ensured growth for years now with the purchase of assets from Dominion Resources, Inc. (D-NYSE).  It held many oil and gas properties that were sold to XTO and to Loew’s (LTR-NYSE).  XTO bought the natural gas reserves for $2.00 per gas unit that can ultimately sell it for $9.00 down the road.  XTO sold off shares to help finance this and shares are now at a discount to the pricing because of the weak market.  Cramer also thinks it has the best management team in the business.

Jon C. Ogg
June 7, 2007

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

Posted on: June 7, 2007 – 5:13 pm in Cramer, Mergers and Buy Outs, Oil & Gas, Secondary Offering, ,

Dominion’s $6.5 Billion Asset Sale

Dominion Resources Inc. (D-NYSE) has been trying to trim down its focus on more core assets via assets sales and select combinations. This morning the company has enetered into two seperate asset sales in a combined deal worth more than $6.5 Billion.

Loews Corporation (LTR-NYSE) is buying Dominion’s operations in the Permian Basin, Michigan and Alabama for $4.025 billion, including reserves of approximately 2.5 TCFE on Dec. 31, 2006.

XTO Energy Inc. (XTO-NYSE) is buying Dominion’s operations in the Rocky Mountains, Gulf Coast, San Juan Basin and South Louisiana for $2.5 billion; including proved reserves of approximately 1 TCFE on Dec. 31, 2006.

The company says it now has enough data on a post-sale basis for forward investment models.  Domonion is internally projecting 2008 fiscal operating earnings per share to come in at $6.00 per share, with 4% to 6% growth thereafter.  Here is a site link for its newer 2008 model on a post-sale basis. http://www.dom.com/investors/ir.jsp

XTO is an obvious play, but Loews Corp was a bit of a surprise from an outsider’s viewpoint.  Loews does already own LNG storage and pipeline operations, but many were not expecting the company to spend this much to add on to LNG operations.

Jon C. Ogg
June 4, 2007

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

Posted on: June 4, 2007 – 8:30 am in Mergers and Buy Outs, Oil & Gas, Shareholder Issues, , ,