24/7 Wall St. » DDS

24/7 Wall St. Closing Bell

Paul Ausick — Fri, 11 May 2012 20:05:14 +0000

The major US stock indexes opened significantly lower this morning as investors reacted to the surprise loss of $2 billion by JPMorgan Chase & Co. (NYSE: JPM) disclosed by the bank’s CEO after trading closed last night (more coverage here and on the 24/7 Wall St. Wire). A drop in the producer price index (coverage here) and a rise in consumer sentiment (coverage here) put some air back into equities, particularly in the tech sector. Only the Nasdaq has been able to show a positive gain today, with about an hour left to closing, but the other two major indexes are down only fractionally. The US dollar index rose today, now up 0.20% at 80.272. The GSCI commodity index is down about 0.1% at 647.50, with commodities mostly lower today on the stronger dollar. Soybeans and canola were the big losers. WTI crude oil closed down -1% at $96.13/barrel and Brent crude trades down -0.54% at $112.12/barrel. Gold settled down -0.7% today, at $1,584.00/ounce, down 4% for the week.

The unofficial closing bells put the DJIA down more than 34 points to 12,820.53 (-0.27%), the NASDAQ rose less than 1 point (0.01%) to 2,933.82, and the S&P 500 fell -0.34% or nearly 5 points to 1,353.38.

There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) maintained ‘outperform’ but estimates cut at Credit Suisse (more coverage here); AT&T Inc. (NYSE: T) raised to ‘outperform’ at Credit Suisse; Best Buy Co. Inc. (NYSE: BBY) cut to ‘neutral’ with a target price of $20 at Credit Suisse; Verizon Communications Inc. (NYSE: VZ) raised to ‘outperform’ at Credit Suisse; and Arena Pharmaceuticals Inc. (NASDAQ: ARNA) raised to ‘buy’ at Jefferies and to ‘outperform’ at Leerink Swann.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Dillard’s Inc. (NYSE: DDS) is up 7.3% at $70.99 after posting a new 52-week high of $72.47 earlier today (more coverage here); ReneSola Ltd. (NYSE: SOL) is up 5.6% at $1.89 (more coverage here); Nvidia Corp. (NASDAQ: NVDA) is up 6.9% at $13.28 (more coverage here); and Uranium Resources Inc. (NASDAQ: URRE) is down -2.4% at $0.80.

On Monday we are scheduled to get earnings from Groupon Inc. (NASDAQ: GRPN), InterOil Corp. (NYSE: IOC), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), Kior Corp. (NASDAQ: KIOR), and Silver Wheaton Corp. (NYSE: SLW).

Other standouts from today include the following stocks:

A number of ETFs had reverse splits of 1-for-5 today, and showed gains of 400% as a result. These included the ProShares UltraPro Short S&P500 (AMEX: SPXU) and other ProShares funds.

Arena Pharmaceuticals is up 76.2% at $6.45 after posting a new 52-week high of $7.01 earlier today. The drug maker received FDA approval to sell its lorcaserin diet drug in the US. Orexigen Therapeutics Inc. (NASDAQ: OREX) and Vivus Inc. (NASDAQ: VVUS) also have similar drugs in development and posted nice gains today as well.

Chesapeake Energy Corp. (NYSE: CHK) is down -10.7% at $15.35 after posting a new 52-week low of $15.21 earlier today. The company filed is proxy statement with the SEC today and it’s a doozy. More coverage here.

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

11:30 a.m. – 3- and 6-month bill auction

Have a great weekend!

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AAPL, ARNA, BBY, CHK, DDS, GRPN, IOC, JASO, JPM, KIOR, NVDA, OREX, SLW, SOL, SPXU, T, URRE, VVUS, VZ

Kohl’s, Nordstrom Disappoint, Dillard’s Shines (KSS, JWN, DDS, M, SKS, JCP)

Paul Ausick — Fri, 11 May 2012 15:55:23 +0000

Lost in the last night’s commotion over the $2 billion loss at JPMorgan Chase & Co. (NYSE: JPM) were weak reports from retail Nordstrom Inc. (NYSE: JWN), Kohl’s Corp. (NYSE: KSS), and Dillard’s Inc. (NYSE: DDS). Kohl’s reported EPS of $0.63, better than the consensus estimate of $0.61 on revenue of $4.2 billion. Nordstrom reported EPS of $0.70 versus a consensus estimate of $0.75. Dillard’s beat EPS estimates by $0.18, at $1.85.

Macy’s Inc. (NYSE: M) reported earnings earlier this week and beat estimates on both the top and bottom lines. The company’s stock still got beaten down on a weak forecast, and that is what happened to both Nordstrom and Kohl’s as well. Saks Inc. (NYSE: SKS) reports next Wednesday and the consensus estimates call for EPS of $0.18 on revenues of $764.4 million. J.C. Penney Co. Inc. (NYSE: JCP) also reports next Wednesday and is expected to post an EPS loss of -$0.10 on revenues of $3.48 billion.

A beat, though, doesn’t look like it will mean much. What matters now to investors is guidance. Macy’s guided full-year EPS below the consensus estimate and got whacked. Kohl’s guided second-quarter EPS to $0.96-$1.02, below the consensus estimate of $1.11. Nordstrom reiterated its full-year EPS guidance at $3.30-$3.45, below the consensus estimate of $3.48. That’s just not good enough. Dillard’s did the smart thing and did not offer any information on guidance.

Kohl’s shares are down -0.4% just before noon today, at $48.47 in a 52-week range of $42.14-$57.39. Nordstrom’s shares are down -2.8% at $52.02 in a 52-week range of $37.28-$57.75.

Dillard’s shares are up 8.3% at $71.70, after posting a new 52-week high of $71.97 earlier this morning. The previous range was $38.99-$67.22. Dillard’s same-store sales report for May could reinforce the company’s new growth pattern — or turn it south again. Dillard’s offered no hints, so all’s well today.

Paul Ausick

Filed under: Earnings Warning, Retail Tagged: DDS, JCP, JWN, KSS, M, SKS

24/7 Wall St. Closing Bell (ORCL, NOV, MMM, TEVA, JDSU, AMCX, MT, HNR, KSS, WIN, DDS, JKS, PGR, SOL, URRE, MNST, WFR)

Paul Ausick — Thu, 10 May 2012 20:04:02 +0000

The major US stock indexes opened significantly higher this morning as investors were heartened by yesterday’s nationalization of Spain’s Bankia. The Bank of England also keps rates and asset purchases stable. This morning’s report on new US claims for unemployment benefits was in-line with expectations (our coverage here). US natural gas inventories rose last week, but the increase was also in-line with expectations (our coverage here).The US dollar index rose today, now up 0.01% at 80.077. The GSCI commodity index is down fractionally at 648.28, with commodities mostly higher on the small change in the dollar. WTI crude oil closed up 0.3% at $97.08/barrel and Brent crude trades down -0.37% at $112.78/barrel. Gold settled up 0.1% today, at $1,595.50/ounce.

The unofficial closing bells put the DJIA up nearly XX points to XXX (XX%), the NASDAQ rose more than XX points (XXX%) to XXX, and the S&P 500 rose XX% or nearly X points to XXX.

There were several analyst upgrades and downgrades today, including Oracle Corp. (NASDAQ: ORCL) cut to ‘hold’ at ThinkEquity; National Oilwell Varco Inc. (NYSE: NOV) maintained ‘buy’ with a lowered target price of $90 at Argus; 3M Co. (NYSE: MMM) cut to ‘market perform’ at Bernstein; Teva Pharmaceuticals Industries Ltd. (NASDAQ: TEVA) cut to ‘hold’ at Needham; and JDS Uniphase Corp. (NASDAQ: JDSU) raised to ‘buy’ at UBS.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: AMC Networks Inc. (NASDAQ: AMCX) is up 2.4% at $40.58; ArcelorMittal (NYSE: MT) is up 1.9% at $16.42; Harvest Natural Resources Inc. (NYSE: HNR) is down -1.6% at $5.71 after posting a new 52-week low of $5.44 earlier today; Kohl’s Corp. (NYSE: KSS) is down -4.6% at $48.52; and Windstream Corp. (NASDAQ: WIN) is down -10.3% at $10.10 after posting a new 52-week low of $9.42 earlier today.

On Friday we are scheduled to get earnings from Dillard’s Inc. (NYSE: DDS), Jinkosolar Holding Co. Ltd. (NYSE: JKS), Nvidia Corp. (NASDAQ: NVDA), Progressive Corp. (NYSE: PGR), ReneSola Ltd. (NYSE: SOL), and Uranium Resources Inc. (NASDAQ: URRE).

Other standouts from today include the following stocks:

Monster Beverage Corp. (NASDAQ: MNST) is up 9.2% at $71.34 in a 52-week range of $32.35-$83.96. The energy drinks company posted strong results, but buyout rumors continue to lead the charge. More coverage here.

MEMC Electronic Materials Inc. (NYSE: WFR) is down -24.3% at $2.46 after posting a new 52-week low of $2.41 earlier today. The solar component supplier posted bad results and a weak outlook. More coverage here.

We also took a detailed look today at short interest in a number of stocks — big names, volume leaders, and cult stocks.

Stay tuned for Friday. Dallas Fed President Richard Fisher is giving a speech. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Producer price index
9:55 a.m. – Reuters/University of Michigan consumer sentiment

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMCX, DDS, HNR, JDSU, JKS, KSS, MMM, MNST, MT, NOV, ORCL, PGR, SOL, TEVA, URRE, WFR, WIN

Cautious Consumers Cancel Macy’s Results (M, JWN, SKS, JCP, KSS, DDS)

Paul Ausick — Wed, 09 May 2012 13:11:25 +0000

Macy’s Inc. (NYSE: M) reported first quarter results this morning that beat estimates on both EPS and revenues. The soft spot was the company’s guidance, and that is taking the stock down sharply in pre-market trading.

The company leads off earnings seasons for a number of big department stores, all of which will be announcing results in the next couple of weeks. Nordstrom Inc. (NYSE: JWN) reports earnings tomorrow and is expected to post EPS of $0.75 on revenue of $2.52 billion. Kohl’s Corp. (NYSE: KSS) also reports tomorrow, and the consensus estimate for EPS is $0.61 and for revenue the estimate is $4.25 billion. Saks Inc. (NYSE: SKS) reports next Wednesday and the consensus estimates call for EPS of $0.18 on revenues of $764.4 million. J.C. Penney Co. Inc. (NYSE: JCP) also reports next Wednesday and is expected to post an EPS loss of -$0.10 on revenues of $3.48 billion. Dillard’s Inc. (NYSE: DDS) has not yet scheduled its announcement, but the estimates call for EPS of $1.67 on revenue of $1.53 billion.

Macy’s grew EPS by 43%, from $0.30 a year ago to $0.43 in the first quarter of 2012. Sales rose 4.4% year-over-year, from $5.89 billion to $6.15 billion. The consensus estimates called for EPS of $0.40 on revenue of $6.13 billion.

Where Macy’s failed to impress was its outlook for full-year EPS. The company reiterated guidance of $3.25-$3.30. The consensus estimate had been $3.41. Same-store sales in April were also a weight, rising just 1.2%, well below the consensus estimate for 1.9% growth.

Macy’s cost of sales rose slightly and margins fell slightly, from 39.1% to 38.8%. Strong sales in March due to an early Easter and warm weather did not flow into April as consumers grew more cautious about purchases.

The company’s shares are down -4.3% at $37.70 in pre-market trading this morning, within a 52-week range of $22.66-$42.17.

Paul Ausick

Filed under: Earnings, Retail Tagged: DDS, JCP, JWN, KSS, M, SKS

24/7 Wall St. Closing Bell (CHK, LVLT, TJX, HPQ, JNPR, ANGI, SAM, CBOU, DRYS, FLS, FLR, GDP, KBR, AMT, BBG, CTHR, DDS, DISH, FWLT, OMX, TGT, VVUS, ONVI, SHLD, PVA, GTI)

Paul Ausick — Thu, 23 Feb 2012 21:06:35 +0000

After a flat opening this morning, markets turned down before reversing course in mid-morning to return to positive territory, where they spent the rest of the day. A good report on new US jobless claims and a report on housing prices showed a gain of 0.7% in the last quarter of 2011. Doubts about whether or not Greece would be able (or willing) to meet its commitments held European markets down and hampered what might have been larger gains today. The US oil inventory report showed a build of 1.6 million barrels, but the larger-than-expected gain didn’t slow oil price gains. WTI crude is up 1.51% at $107.89/barrel and Brent crude is up 0.64% at $123.69/barrel. Gold settled up 0.9% at $1,786.30, its highest finish in three months.

The unofficial closing bells put the DJIA up more than 46 points to 12,984.91 (0.36%), the NASDAQ rose nearly 24 points (0.81%) to 2,956.98, and the S&P 500 rose 0.43% or nearly 6 points to 1,363.46.

There were several analyst upgrades and downgrades today, including Chesapeake Energy Corp. (NYSE: CHK) reiterated as ‘neutral’ at Credit Suisse; Level 3 Communications Inc. (NASDAQ: LVLT) raised to ‘overweight’ at Morgan Stanley; TJX Companies Inc. (NYSE: TJX) reiterated as ‘hold’ at Argus; Hewlett-Packard Co. (NYSE: HPQ) reiterated as ‘neutral’ at Credit Suisse; and Juniper Networks Inc. (NASDAQ: JNPR) cut to ‘market perform’ at FBR.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Angie’s List Inc. (NASDAQ: ANGI) is up 10.10% at $15.92; Boston Beer Company Inc. (NYSE: SAM) is down -4.5% at $99.88; Caribou Coffee Co. Inc. (NASDAQ: CBOU) is down -1.8% at $17.28; DryShips Inc. (NASDAQ: DRYS) is up 6.7% at $3.67; Flowserve Corp. (NYSE: FLS) is up 2.8% at $121.08; Fluor Corp. (NYSE: FLR) is up 6.2% at $64.11; Goodrich Petroleum Corp. (NYSE: GDP) is down -4.4% at $16.07; Hewlett Packard is down -6.4% at $27.08; KBR Inc. (NYSE: KBR) is up 9.1% at $36.01; American Tower Corp. (NYSE: AMT) is up 0.68% at $63.69; Bill Barrett Corp. (NYSE: BBG) is down -0.5% at $27.77; Charles & Colvard Ltd (NASDAQ: CTHR) is up 22.3% at $3.73 after posting a new 52-week high of $3.99 earlier today; Dillard’s Inc. (NYSE: DDS) is up 10.6% at $57.73; Dish Network Inc. (NASDAQ: DISH) is up 1.5% at $29.60 (more coverage here); Foster Wheeler AG (NASDAQ: FWLT) is up 7.5% at $25.58; Officemax Inc. (NYSE: OMX) is up 7.25% at $5.92; and Target Corp. (NYSE: TGT) is up 3.5% at $54.80 (more coverage here).

Other standouts from today include the following stocks:

Vivus Inc. (NASDAQ: VVUS) is up nearly 80% at $18.93 after posting a new 52-week high of $21.44 earlier. The drug maker yesterday received an FDA panel approval for its obesity drug. More coverage here, here, and here.

Onvia Inc. (NASDAQ: ONVI) is up about 34% at $4.21. The government contractor service provider has rejected a buyout bid at $4.25/share, boosting hopes of a bidding war.

Sears Holdings Corp. (NASDAQ: SHLD) is up nearly 19% at $61.93. The retailer reported an enormous loss, but also announced plans to pare down the company. More coverage here.

Penn Virginia Corp. (NYSE: PVA) is down nearly -15% at $4.92. The independent oil & gas company missed EPS estimates badly, and lowered its production forecast for 2012.

GrafTech International Ltd. (NYSE: GTI) is down more than -15% at $13.07. Volume is more than 10x the daily average of 1 million shares traded. The industrial products company reported a big revenue miss this morning.

Stay tuned for Friday. St. Louis Fed president James Bullard and New York Fed president William Dudley are giving speeches. We have noted the following events on the schedule (all times Eastern):

9:55 a.m. – Reuters/University of Michigan consumer sentiment index
10:00 a.m. – New home sales

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AMT, ANGI, BBG, CBOU, CHK, CTHR, DDS, DISH, DRYS, FLR, FLS, FWLT, GDP, GTI, HPQ, JNPR, KBR, LVLT, OMX, ONVI, PVA, SAM, SHLD, TGT, TJX, VVUS

Retail Sales Roundup (COST, TGT, JCP, KSS, DDS, JWN, SKS, SSI, M, GPS, TJX, LTD, ROST, SMRT, WTSLA, BKE, ZUMZ, WAG)

Paul Ausick — Thu, 05 Jan 2012 17:24:53 +0000

US retailers are reporting December same-store sales today, and here’s a wrap-up of the results as of about 10 a.m. this morning. Reports were in from Costco Wholesale Corp. (NASDAQ: COST), Target Corp. (NYSE: TGT), J.C. Penney Co. Inc. (NYSE: JCP), Kohl’s Corp. (NYSE: KSS), Dillard’s Inc. (NYSE: DDS), Nordstrom Inc. (NYSE: JWN), Saks Inc. (NYSE: SKS), Stage Stores Inc. (NYSE: SSI), Macy’s Inc. (NYSE: M), Gap Inc. (NYSE: GPS), The TJX Cos. Inc. (NYSE: TJX), Limited Brands Inc. (NYSE: LTD), Ross Stores Inc. (NASDAQ: ROST), Stein Mart Inc. (NASDAQ: SMRT), Wet Seal Inc. (NASDAQ: WTSLA), Buckle Inc. (NYSE: BKE), Zumiez Inc. (NASDAQ: ZUMZ), and Walgreen Co. (NYSE: WAG).

Teen stores Buckle and Zumiez battered expectations, while Gap and Wet Seal both missed expectations badly.

Data from CNBC.

Store	Consensus Est.	Actual
Costco	7.6%	7.0%
Target	3.1%	1.6%
J.C. Penney	-0.1%	0.3%
Kohl’s	2.2%	-0.1%
Dillard’s	3.0%	4.0%
Nordstrom	5.1%	8.7%
Saks	5.8%	5.8%
Stage Stores	1.0%	1.2%
Macy’s	5.0%	6.2%
Gap	-1.3%	-4%
TJX	2.6%	8%
Limited	5.7%	7%
Ross	4.2%	9%
Stein Mart	-1%	Flat
Wet Seal	-1%	-3.7%
Buckle	5.0%	8.9%
Zumiez	5.1%	10%
Walgreen	-0.1%	0.4%

Buckle shares are up more than 2% at $41.33 in a 52-week range of $33.97-$47.97. Zumiez shares are up more than 14% at $30.13 in a 52-week range of $15.85-$30.90. Gap shares are down nearly -4% at $18.18 in a 52-week range of $15.08-$23.73. Wet Seal shares are down more than -2.5% at $3.21 in a 52-week range of $3.03-$5.23.

Paul Ausick

Filed under: Apparel, Consumer Goods, General, Retail Tagged: BKE, COST, DDS, GPS, JCP, JWN, KSS, LTD, M, ROST, SKS, SMRT, SSI, TGT, TJX, WAG, WTSLA, ZUMZ

November Same-Store Sales Mixed, Winners and Losers (LTD, TLB, COST, TGT, M, DDS, JWN, KSS, GPS, ROST, JCP, TJX, LULU, SSI, PIR)

Paul Ausick — Thu, 01 Dec 2011 15:17:59 +0000

Retailers are reporting November sales this morning and the results are decidely mixed. The best report we’ve seen so far this morning is from Limited Brands, Inc. (NYSE: LTD) and the worst is from The Talbot’s Inc. (NYSE: TLB). In between are reports from Costco Wholesale Corp. (NASDAQ: COST), Target Corp. (NYSE: TGT), Macy’s Inc. (NYSE: M), Dillard’s Inc. (NYSE: DDS), Nordstrom Inc. (NYSE: JWN), Kohl’s Corp. (NYSE: KSS), Gap Inc. (NYSE: GPS), Ross Stores Inc. (NASDAQ: ROST), J.C. Penney Co. (NYSE: JCP), TJX Companies (NYSE: TJX), Lululemon Athletica Inc. (NASDAQ: LULU), Stage Stores Inc. (NYSE: SSI), and Pier One Imports Inc. (NYSE: PIR)

Limited Brands’ same-store sales rose 7%, compared with a consensus estimate of 4.4%. Net sales fell by -2.3%, however, from $893 million a year ago to $872.6 million. The company also announced a $2/share special dividend to be paid on December 23rd to shareholders of record on December 12th.

The Talbot’s Inc. (NYSE: TLB) reported third-quarter earnings this morning and posted an adjusted EPS loss of -$0.22, compared with a consensus estimate of an EPS loss of -$0.16. Same-store sales fell by -4% in November. Talbot’s has closed 35 store locations so far this year and plans to close a total of 110 locations by the end of its 2013 fiscal year.

Costco’s same-store sales rose 7%, excluding gasoline and currency effects. Including gasoline, sales were up 9%. Analysts were expecting a rise of 6.5%.

Target posted a same-store sales gain of 1.8% in November, but analysts were looking for a gain of 2.8%. The company’s CEO said that he expects December to offer a “competitive and promotional environment as consumers continue to focus on value.”

Macy’s same-store sales rose 4.8% last month, and total sales were up 5.3%. The consensus estimate for same-store sales was an increase of 4.1%.

Dillard’s posted a same-store sales jump of 3%, in-line with the average estimate.

Nordstrom reported November same-store sales rose 5.6%, compared with an average analyst estimate of 5%. Total sales rose nearly 12% in November.

Kohl’s reported that November same-store sales fell -6.2%, while analysts were expecting a 2% increase. The CEO called the results “disappointing,” and said that the company expects to benefit from customers seeking value during the remainder of the holiday shopping season.

Gap same-store sales fell by -5%, more than the analysts’ expectation of a -4.3% decline. The company’s CEO expects December to “to remain fiercely competitive and highly promotional.”

Ross posted a same-store sales increase of 5% in November, better than the 3.7% that analysts were expecting. The company said it expects a 3%-4% increase in December as well.

Penney’s same-store sales fell -2% in November, compared with a -1.6% decline expected by the analysts. Total sales also fell by nearly -6% in the month.

TJX reported same-store sales growth of 4%, in-line with the average estimate. The company’s CEO said that the store would have performed better but for the warmer weather which put off winter clothes buying.

Lululemon reported third-quarter earnings today, noting that same-store sales jumped 16% in the quarter. Shares are down more than -11% in the first half-hour of trading this morning. Here’s our coverage of the company’s earnings report.

Stage Stores reported same-store sales rose 2.3%, compared with an estimate for a flat month. Total sales rose 4.3%, and the company’s CEO said that the final week of the month was “very strong.”

Pier One released third quarter sales figures today, and same-store sales for the quarter ending November 27th rose 7%. The company said quarterly EPS would be $0.20-$0.21, compared with the consensus EPS estimate of $0.18. Same-store sales for the holiday weekend were up 10% over last year.

Paul Ausick

Filed under: Apparel, Consumer Goods, Economy, Retail Tagged: COST, DDS, GPS, JCP, JWN, KSS, LTD, LULU, M, PIR, ROST, SSI, TGT, TJX, TLB

Top Analyst Upgrades & Downgrades (AAPL, CI, DV, DDS, IFF, LNKD, MS, QCOM, RIMM, TGT, WAG, WMT, WDC, ZOLL)

Administrator — Mon, 21 Nov 2011 13:13:09 +0000

These are some of Monday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls.

Apple Inc. (NASDAQ: AAPL) Reiterated Outperform and $500 target at Credit Suisse.
CIGNA Corp. (NYSE: CI) Raised to Buy at BofA/ML.
DeVry, Inc. (NYSE: DV) Cut to Underperform as Bear of the Day at Zacks.
Dillard’s Inc. (NYSE: DDS) named as Value stock of the day at Zacks.
International Flavors & Fragrances Inc. (NYSE: IFF) Raised to Overweight at JPMorgan.
LinkedIn Corp. (NYSE: LNKD) maintained Hold at Argus.
Morgan Stanley (NYSE: MS) Raised to Buy at Collins Stewart.
Qualcomm Inc. (NASDAQ: QCOM) Reiterated Buy and $72 target at Argus.
Research in Motion Ltd. (NASDAQ: RIMM) Cut target to $20 at Credit Suisse.
Target Corporation (NYSE: TGT) Cut to Neutral at JPMorgan.
Walgreen Co. (NYSE: WAG) Cut to Underweight at Morgan Stanley.
Wal-Mart Stores, Inc. (NYSE: WMT) Raised to Overweight at JPMorgan.
Western Digital Corporation (NYSE: WDC) Raised to Overweight at Barclays.
ZOLL Medical Corp. (NASDAQ: ZOLL) Raised to Outperform as Bull of the Day at Zacks.

JON C. OGG

Filed under: Analyst Calls Tagged: AAPL, CI, DDS, DV, IFF, LNKD, MS, QCOM, RIMM, TGT, WAG, WDC, WMT, ZOLL

24/7 Wall St. Closing Bell (AMZN, CAM, MPEL, NVDA, SVU, RF, DDS, DHI, BONE, CDTI, HHC, PNS, ALIM, PSDV, MCP, HOVNP, TRX)

Paul Ausick — Fri, 11 Nov 2011 21:08:57 +0000

The markets got off to a strong start this morning, and stayed that way throughout the day. The dollar weakened against the euro and yen as currency traders seem to believe that a solution to the mess in Europe is getting nearer. Trading volume has been moderate today, perhaps due to the bond market holiday. Gold closed at $1,788.10/ounce, up 1.6% and silver closed near $34.69/ounce, up 1.7%. Crude oil settled within just below $99/barrel, its highest point in about three months.

The unofficial closing bells put the DJIA up more than 259 points to 12,153.46 (2.18%), the NASDAQ rose more than 53 points (2.04%) to 2,678.75, and the S&P 500 rose 1.95% or more than 24 points to 1,263.85.

There were several analyst upgrades and downgrades today, including Amazon.com Inc. (NASDAQ: AMZN) started as ‘neutral’ at Nomura. Other changes included Cameron International (NYSE: CAM) reiterated ‘buy’ with $73 target at BofA/ML; Melco Crown Entertainment Ltd. (NASDAQ: MPEL) maintained ‘neutral’ but cut target to $14 at JPMorgan; NVIDIA Corporation (NASDAQ: NVDA) reiterated ‘buy’ with $18 target at BofA/ML; SUPERVALU Inc. (NYSE: SVU) reinstated as ‘neutral’ at BofA/ML; and Regions Financial Corporation (NYSE: RF) started as ‘outperform’ at BMO Capital.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Dillard’s Inc. (NYSE: DDS) is down more than -13%, at $47.91; D.R. Horton, Inc. (NYSE: DHI) is down more than -2%, at $11.42; Bacterin International Holdings, Inc. (NASDAQ: BONE) is up more than 6%, at $2.90; Clean Diesel Technologies, Inc. (NASDAQ: CDTI) is down more than -3.5%, at $3.45; and The Howard Hughes Corp. (NYSE: HHC) is up more than 2.5%, at $47.25.

Several other standouts from today are as follows…

Pinnacle Data Systems Inc. (AMEX: PNS) is up more than 105%, at $2.36. The company has accepted a takeover offer from Avnet, Inc. (NYSE: AVT) worth $2.40/share.

Alimera Sciences, Inc. (NASDAQ: ALIM) is down nearly -74%, at $1.94. The company failed to get FDA approval for its eye pain drug.

pSivida Corp. (NASDAQ: PSDV) is down more than -46%, at $2.11. The company had licensed to Alimera an element of the drug that failed the FDA test.

Molycorp, Inc. (NYSE: MCP) is down more than -13%, at $33.43. The company missed earnings and revenue estimates.

Hovnanian Enterprises Inc. (NASDAQ: HOVNP) is down more than -9%, at $1.40. The company did not have any news today, but likely suffered from the earnings report from D.R. Horton.

Tanzanian Royalty Exploration Corp. (AMEX: TRX) is up more than 20%, at $2.75. The company’s shares were halted earlier, and the company issued a statement that there was no particular event responsible for the heavy trading in the stock.

Except for short-term Treasury Bill auctions, there are no events scheduled for Monday.

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ALIM, AMZN, BONE, CAM, CDTI, DDS, DHI, HHC, HOVNP, MCP, MPEL, NVDA, PNS, PSDV, RF, SVU, TRX

Top Active Trader Alerts (ETFC, DDS, DRYS, GMCR, TSLA)

Mike Sauter — Fri, 11 Nov 2011 14:01:01 +0000

Crude oil is at $98.03, up 0.26%

Gold is at $1,763, up 0.21%.

Hong Kong’s Hang Seng closed up 0.91% to 19,137.

Japan’s Nikkei closed higher by 0.16% to 8,514.

The U.S. 10-year is at 2.05%, down 0.o1%.

The FTSE is up .95% to $5,497.

The DAX is up 1.96% to $5,984.

E Trade Financial Corporation (NASDAQ: ETFC) is down 5% before market open to $9.00, relative to a 52-week range of $7.74 – $18.13. The company announced the conclusion of its inquiry into strategic alternatives.

Dillard’s Inc. (NYSE: DDS) is down 4.8% to $52.50, relative to a 52-week range of $28.03 – $61.08. The company’s third quarter profit jumped 85% from the same time last year.

Dryships, Inc. (NASDAQ: DRYS) is up 1.7% to $2.88, relative to a 52-week range of $1.75 – $6.44.

Green Mountain Coffee Roasters (NASDAQ: GMCR) is up 1% premarket to $41.30, relative to a 52-week range of $29.55 – $115.98. This small jump comes after shares of GMCR fell nearly 40% yesterday during regular trading hours.

Tesla Motors, Inc. (NASDAQ: TSLA) is up 2.4% before market open to $32.09, relative to a 52-week range of $21.11 – 36.42.

Filed under: Pre-Market Activity, Trading Alert Tagged: DDS, DRYS, ETFC, GMCR, TSLA