Posts for Ticker ‘ETR’

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, , , ,

Top Analyst Upgrades (AZN, BMR, ETR, MMM, NFLX, NVO, SWK)

These are some of the top pre-market analyst upgrades we have seen from Wall Street early this Monday morning:

AstraZeneca (AZN) Raised to Buy at UBS.
BioMed Realty Trust (BMR) Raised to Outperform at Oppenheimer.
Entergy (ETR) Raised to Buy at Jefferies.
3M (MMM) Raised to Equal-Weight at BVarclays.
Netflix (NFLX) Raised to Buy at Citigroup.
Novo Nordisk (NVO) Raised to Buy at Citigroup.
Stanley Works (SWK) Raised to Outperform at Baird.

JON C. OGG

Posted on: April 27, 2009 – 6:54 am in Analyst Calls, , , , , , ,

Entergy Pulls Remarketing Offer (ETR)

burning-money-pic8Entergy Corporation (NYSE:ETR) was unable to find buyers for $500 million worth of Senior Notes that are a component the company’s 7.625% Equity Units (NYSE:ETRPrA) due February 11, 2011. It has canceled the remarketing period for the notes.

The bad news is that Entergy had reported its fourth quarter earnings including the remarketed shares. Because that didn’t happen, the company will need to include the shares in its per share calculations for 2008, “causing the number of shares to increase compared to the amount reflected in the release.”
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Posted on: February 12, 2009 – 10:44 am in Bonds, Oil & Gas, Secondary Offering, , , ,

Top Pre-Market Analyst Downgrades (BPT, BSY, DELL, ETR, HTE, IFX, NVLS, PM, POWI, SBR, TXT, THQI)

Burning_money_picThese are some of the top downgrades and negative calls we are seeing from Wall Street analysts this Thursday morning:

  • BP Prudhoe Bay Royalty (BPT) Cut to Sell at Citigroup.
  • British Sky Broadcast (BSY) Cut to Neutral at UBS.
  • DELL (DELL) Cut to Underweight at JPMorgan.
  • Entergy (ETR) Cut to Neutral at JPMorgan.
  • Harvest Energy Trust (HTE) Cut to Sell at Citigroup.
  • Infineon (IFX) Cut to Underweight at JPMorgan.
  • Novellus Systems (NVLS) Cut to Neutral at Bank of America-Merrill Lynch.
  • Philip Morris International (PM) Cut to Neutral at Credit Suisse.
  • Power Integrations (POWI) Cut to Neutral at Piper Jaffray.
  • Sabine Royalty Trust (SBR) Cut to Sell at Citigroup.
  • Textron (TXT) Cut to Neutral at JPMorgan.
  • THQ Inc. (THQI) Cut to Neutral at Piper Jaffray.

Jon C. Ogg
February 5, 2009

Posted on: February 5, 2009 – 7:47 am in Analyst Calls, , , , , , , , , , , ,

Top Analyst Downgrades (AVP, CAH, ETR, ETFC, F, IP, ITRI, LAB, NDAQ, NYX, SNDK, WYN)

Burning_money_picThese are some of the top pre-market analyst downgrades and negative calls we have seen on Wall Street this morning:

  • Avon Products (AVP) Cut to Neutral at Goldman Sachs.
  • Cardinal Health (CAH) Cut to Neutral at Goldman Sachs.
  • Entergy (ETR) Cut to Hold at Jefferies.
  • E*TRADE (ETFC) Cut to Equal Weight at Barclays.
  • Ford (F) Cut to Underweight at Barclays.
  • International Paper (IP) Cut to Sell at Goldman Sachs.
  • Itron (ITRI) Cut to Neutral at UBS.
  • LaBranche (LAB) Cut to Neutral at Goldman Sachs.
  • NASDAQ: OMX (NDAQ) Cut to Neutral at Goldman Sachs.
  • NYSE (NYX) Cut to Sell at Goldman Sachs; Cut to Market Perform at KBW.
  • SanDisk (SNDK) Cut to Sell at Auriga.
  • Wyndam Worldwide (WYN) Cut to Neutral at Goldman Sachs.

Jon C. Ogg
February 2, 2009

Posted on: February 2, 2009 – 7:45 am in Analyst Calls, , , , , , , , , , , ,

Top Pre-Market Analyst Upgrades (AVR, BLL, CE, ETR, HCP, HR, MRK, PTNR, PTEN, UAUA, VSE)

These are not all of the upgrades or positive analyst calls seen this morning but these are some of the top calls seen this Friday morning:

  • Aventine Renewable (NYSE: AVR) Raised to Buy from Neutral at UBS.
  • Ball Corp (NYSE: BLL) Raised to Buy from Neutral at Goldman Sachs.
  • Celanese (NYSE: CE) Started as Outperform at Credit Suisse.
  • Entergy (NYSE: ETR) Raised to Buy from Hold at Jefferies.
  • HCP (NYSE: HCP) Raised To Buy From Neutral By Goldman Sachs.
  • Healthcare Realty Trust (NYSE: HR) Started as Outperform at Wachovia.
  • Merck (NYSE: MRK) Started as Buy at Citigroup.
  • Partner Communications (NASDAQ: PTNR) Started as Outperform at RBC Capital.
  • Patterson-UTI Energy (NASDAQ: PTEN) Raised to Outperform at Credit Suisse.
  • UAL (NASDAQ: UAUA) Raised to Overweight from Underweight at JPMorgan.
  • Yum! Brands (NYSE: YUM) Raised to Outperform from Market Perform at Wachovia.
  • VeraSun Energy (NYSE: VSE) Raised to Buy from Neutral at UBS.

Jon C. Ogg
July 18, 2008

Posted on: July 18, 2008 – 6:48 am in Analyst Calls, , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (CPST, CHKP, RIO, COCO, ETR, GM, IDTI, MGM, PCG, TEN)

These are ten of the individual analyst calls we are looking at from Wall Street this Thursday morning:

  • Capstone Turbine Corp. (NASDAQ: CPST) started as Buy at Broadpoint Capital.
  • Check Point Software (NASDAQ: CHKP) raised to Overweight at Lehman Brothers.
  • Comp Vale Do Rio (NYSE: RIO) started as Overweight at Lehman Brothers.
  • Corinthian Colleges (NASDAQ: COCO) Raised to Overweight from Equalweight at Lehman Brothers.
  • Entergy (NYSE: ETR) Cut to Neutral from Buy at Banc Of America.
  • General Motors (NYSE: GM) downgraded to Sell from Neutral at Goldman Sachs.
  • Integrated Device Tech (NASDAQ: IDTI) Raised to Neutral from Underperform at Merrill Lynch.
  • MGM Mirage (NYSE: MGM) Cut to Neutral from Overweight at JPMorgan.
  • PG&E (NYSE: PCG) Cut to Hold from Buy at Jefferies.
  • Tenneco (NYSE: TEN) and Lear Corp. (NYSE: LEA) were both downgraded at Goldman Sachs.

Jon C. Ogg
June 26, 2008

Posted on: June 26, 2008 – 6:57 am in Analyst Calls, , , , , , , , , ,

Energy Spin-Offs Still Outstanding (ETR, CVI)

Last week, we noted in "Trouble Brewing in Oil & Gas MLP Land" that many MLP spin-offs had either not been coming public since their IPO filing dates, but there are more deals that are still either gone or still pending that would seem to be easy IPO’s in the current climate.  Entergy (NYSE:ETR) and CVR Energy Inc. (NYSE:CVI) are two more that have pending deals, and others are canceled or pending.

Proposed MLP IPO’s are not the only ones that have either been withdrawn or are still pending. Forum Oilfield Technologies filed for an IPO in October 2007, but withdrew the filing on the same day that Plains pulled its proposed IPO. Forum cited "market conditions" as its reason from withdrawing.

Entergy (NYSE:ETR) announced a plan to spin-off its nuclear generating facilities in November 2007. Entergy has announced names and logos for the new company, Enexus Energy Corp, and for the nuclear operating company that Entergy and Enexus will create, EquaGen L.L.C. This one is still likely to happen, despite the silly names.

CVR Energy Inc. (NYSE:CVI) announced plans in February to spin off an MLP to own and operate its nitrogen fertilizer plant and other projects. CVR Energy reports first quarter earnings after market close today.   We also covered this one much more in-depth in our Special Situation newsletter.  The company told us in a telephone call that the spin-off IPO is still pending, but that was also before the company warned on results.

The failure, or slow pace, of IPOs even affected the hot renewable market. Renewable Energy Group filed for an IPO in July 2007, and withdrew its offering in March.

Oil is north of $120.00 per barrel.  Energy IPOs, whether for MLPs or not, are having a tough time.  A logic class would surmise that investors don’t want to catch the top-tick in what may be an unproven entity after a monumental run.

You can join our open email distribution list to hear about other IPO’s, secondaries, financings, spin-offs, and mergers.

Paul Ausick
May 19, 2008

Posted on: May 19, 2008 – 9:31 am in IPOs, Oil & Gas, ,

Top 10 Pre-Market Analyst Calls (AU, APOL, CLF, DRI, ETR, EXC, EXPD, F, MELI, OSIP, STX, WDC)

These are not all of the analyst calls out there affecting shares, but these are the top 10 analyst we are focusing on this Monday morning:

  • Anglogold (NYSE: AU) Raised to Buy at UBS.
  • Apollo Group (NASDAQ: APOL) cut to Sell at Banc of America.
  • Cleveland-Cliffs (NYSE: CLF) started as Buy at Deutsche Bank.
  • Darden Restaurants (NYSE: DRI) raised to Outperform at Bear Stearns.
  • Entergy (NYSE: ETR) & Excelon (NYSE: EXC) raised to Buy at Jefferies.
  • Expeditors International (NASDAQ: EXPD) Raised to Buy at UBS.
  • Ford Motors (NYSE: F) cut to Sell at Citigroup.
  • MercadoLibre (NASDAQ: MELI) raised to Outperform at RBC Capital.
  • OSI Pharmaceuticals (NASDAQ: OSIP) raised to Outperform at Wachovia.
  • Seagate Tech (NYSE: STX) raised to Overweight at JP Morgan; Western Digital (NYSE: WDC) downgraded to Underweight at JP Morgan.

Jon C. Ogg
March 3, 2008

Posted on: March 3, 2008 – 7:55 am in Analyst Calls, , , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (AIG, TRAK, DECK, ETR, ITLN, MF, PFE, QSFT, REP, RHD)

These are not the only analyst calls affecting shares of stock this morning, but these are the initial calls that 247WallSt.com is focusing on:

  • AIG (NYSE: AIG) cut to Market Perform at KBW.
  • DealerTrack (NASDAQ: TRAK) raised to Outperform at JP Morgan.
  • Deckers Outdoor (NASDAQ: DECK) raised to Outperform at RBC Capital Markets.
  • Entergy (NYSE: ETR) raised to Buy at UBS.
  • Intellon (NASDAQ: ITLN) started as Outperform at Oppenheimer.
  • MF Global (NYSE: MF) downgraded to Equal-Weight at Lehman; downgraded to Neutral at Credit Suisse.
  • Pfizer (NYSE: PFE) raised to Equal-Weight at Lehman.
  • Quest Software (NASDAQ:    QSFT) raised to Outperform at Credit Suisse.
  • Repsol S.A. (NYSE: REP) raised to Buy at UBS.
  • R.H. Donnelley (NYSE:RHD) downgraded to Peer Perform at Bear Stearns, downgraded to Sell at Deutsche Bank.

Jon C. Ogg
February 29, 2008

Posted on: February 29, 2008 – 7:23 am in Analyst Calls, , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (ABH, ALKS, AMAT, DEO, EBAY, KNXA, MMM, PWAV, TKC, NRG, EIX, ETR)

Credit Suisse downgraded key power stocks: NRG Energy (NRG), Edison(EIX), and Entergy (ETR) all downgraded to Neutral on valuation afterlarge runs.

The top 10 individual analysts calls 24/7 Wall St. is looking at today:

  • AbitibiBowater (ABH) started as Sell at Banc of America.
  • Alkermes (ALKS) started as Overweight at J.P.Morgan.
  • Applied Materials (AMAT) raised to Overweight at J.P.Morgan; raised to Buy at Citigroup; positive notes from Banc of America; stock up 3.5% pre-market.
  • Diageo plc (DEO) started as Underweight at J.P.Morgan.
  • eBay (EBAY) raised to Outperform at Piper Jaffray.
  • Kanexa (KNXA) raised to Buy at Cantor Fitzgerald after major downgrades yesterday; stock indicated up 2% after yesterday’s mammoth drop.
  • 3M (MMM) cut to Sell from Neutral at Goldman Sachs; stock indicated down 4%.
  • Powerwave (PWAV) raised to Outperform at Piper Jaffray.
  • Turkcell (TKC) cut to Neutral from Buy at UBS; stock indicated down 0.75% pre-market.

Jon C. Ogg
November 9, 2007

Posted on: November 9, 2007 – 8:00 am in Analyst Calls, , , , , , , , , , , ,

Pre-Market Analyst Calls (November 6, 2007)

Stock Tickers: ANF, ARO, AEO, ANN, ADSK, BMRN, CA, CHS, C, COGN, CWTR, ETR, GPS, GOOG, JCG, LF, MA, MSFT, ORH, ORCL, PAS, PNWIF, PT, RIMM, JAVA, SYMC, UA, URBN

Abercrombie & Fitch (ANF) started as Buy at UBS.
Aeropostale (ARO) started as Neutral at UBS.
American Eagle Outfitters (AEO) raised to Hold at Citigroup.
Ann Taylor (ANN) started as Buy at UBS.
Autodesk (ADSK) raised to Overweight at Lehman.
Biomarin (BMRN) Started as Buy at Jefferies.
CA INC. (CA) raised to Equal-Weight at Lehman.
Chico’s FAS (CHS) started as Neutral at UBS.
Citigroup (C) cut to Neutral at B of A.
Cognos (COGN) cut to Sector Perform at CIBC.
Coldwater Creek (CWTR) started as Neutral at UBS.
Entergy (ETR) cut to Hold at Jefferies.
Gap Inc. (GPS) started as Buy at UBS.
Googe (GOOG) target raised to $850 at Sanford Bernstein.
J.Crew (JCG) started as Neutral at UBS.
Leapfrog (LF) started as Strong Buy at Needham.
MasterCard (MA) raised to Buy at Deutsche Bank.
Microsoft (MSFT) removed from Conviction Buy List at Goldman Sachs.
OdysseyRe (ORH) raised to Hold at Citigroup.
Oracle (ORCL) replaced Microsoft on Goldman Sachs Conviction Buy List.
PepsiAmericas (PAS) cut to Underweight at JPMorgan.
PhotoChannel (PNWIF) started as Buy at Merriman Curhan Ford.
Portugal Telecom (PT) raised to Buy at UBS.
Research In Motion (RIMM) raised to Outperform at Credit Suisse.
Sun Micro (JAVA) raised to Buy at Citigroup.
Symantec (SYMC) cut to Equal-Weight at Lehman.
Under Armour (UA) started as Underweight at Morgan Stanley.
Urban Outfitters (URBN) started as Buy at UBS.

Jon C. Ogg
November 6, 2007

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

Posted on: November 6, 2007 – 7:57 am in Analyst Calls, , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Entergy Spinning Off Nuclear Operations (ETR)

Entergy Corp. (NYSE:ETR) is trading up over 2% right after the open.  The power utility reported earnings, but perhaps even bigger than earnings is the news that the $24 Billion market cap power company is spinning off its nuclear operations.

On Nov. 3, 2007, Entergy’s Board of Directors approved a plan to pursue a separation of the non-utility nuclear business from Entergy’s regulated utility business through a tax-free spin-off of the non-utility nuclear business. SpinCo, the term used to identify the new company yet to be named, will be a new independent publicly-traded company. In addition, SpinCo and Entergy Corporation intend to enter into a nuclear services joint venture, with equal ownership.

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Posted on: November 5, 2007 – 9:48 am in IPOs, Management Change, Mergers and Buy Outs, Nuclear, Shareholder Issues,