24/7 Wall St. » FDX

24/7 Wall St. Closing Bell (FDX, WY, CMA, GLW, RDS-A, IDTI, MCK, PCL, CYOU, HUM, LAZ, L, SYY, SURW, CHUX, SOHU, GBG, DNDN)

Paul Ausick — Mon, 06 Feb 2012 21:07:48 +0000

US equity markets opened lower this morning and never moved into positive territory all day. Greek debt swap negotiations made no discernible progress today and there was no scheduled data on tap to move the market one way or the other. The dollar picked up strength against the euro today, but faltered against the British pound and the Japanese yen. The dollar index rose 0.1385 to 79.051. Crude oil was mixed with WTI crude down -0.76% at $97.10/barrel and Brent crude up 1.39% at $116.17/barrel. Gold closed down -0.9% at $1,724.90/ounce.

The unofficial closing bells put the DJIA down about 17 points to 12,845.20 (-0.13%), the NASDAQ fell almost 4 points (-0.13%) to 2,901.99, and the S&P 500 fell -0.04% or less than 1 point to 1,344.33.

There were several analyst upgrades and downgrades today, including FedEx Corp. (NYSE: FDX) raised to ‘buy’ at BofA/ML; Weyerhaeuser Co. (NYSE: WY) cut to ‘sell’ at UBS; Comerica Inc. (NYSE: CMA) raised to ‘outperform’ at RBS; Corning Inc. (NYSE: GLW) raised to ‘outperform’ at Piper Jaffray; and Royal Dutch Shell plc (NYSE: RDS-A) cut to ‘neutral’ at Credit Suisse.

Earnings reports since markets closed last week have led to some price changes as of the last half hour of trading today: Integrated Device Technology Inc. (NASDAQ: IDTI) is down -0.98% at $6.60; McKesson Corp. (NYSE: MCK) is up 1.71% at $82.18; Plum Creek Timber Co. Inc. (NYSE: PCL) is up 0.32% at $39.81; Changyou.com Ltd. (NASDAQ: CYOU) is down -12.43% at $25.50; Humana Inc. (NYSE: HUM) is down -5.8% at $84.90; Lazard Ltd. (NYSE: LAZ) is down -4.3% at $27.65; Loews Corp. (NYSE: L) is down -0.85% at $38.28; and Sysco Corp. (NYSE: SYY) is down -4% at $29.66.

Other standouts from today include the following stocks:

SureWest Communications (NASDAQ: SURW) is up more than 44% at $22.50 after posting a new 52-week high of $22.69 earlier. The telecom provider has agreed to be acquired by Consolidated Communications Holdings Inc. (NASDAQ: CNSL) for about $341 million, or $23/share.

O’Charley’s Inc. (NASDAQ: CHUX) is up nearly 42% at $9.81 after posting a new 52-week high of $9.88. The company has agreed to be acquired by Fidelity National Financial Inc. (NYSE: FNF) for $221 million, about $9.85/share.

Sohu.com Inc. (NASDAQ: SOHU) is down nearly -15% at $53.61. The Chinese internet company posted solid earnings, but its Q1 forecast was below expectations.

Great Basin Gold Ltd. (AMEX: GBG) is down -11% at $1.05. The junior gold miner reported preliminary results today that were worse than expected and lowered first quarter production estimates.

Dendreon Corp. (NASDAQ: DNDN) is up about 17.6% at $16.66. The drug maker is getting a boost from a negative report on a prostate cancer drug treatment that would compete with Dendreon’s Provenge.

Stay tuned for Tuesday. Federal Reserve chairman Ben Bernanke testifies before Senate Budget Committee. We have noted the following events on the schedule (all times Eastern):

11:30 a.m. – 4- and 52-week Treasury bill auction
3:00 p.m. – Consumer credit report

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: CHUX, CMA, CYOU, DNDN, FDX, GBG, GLW, HUM, IDTI, L, LAZ, MCK, PCL, RDS-A, SOHU, SURW, SYY, WY

Top Analyst Upgrades & Downgrades (AVAV, AET, ALU, ANN, CAH, CMA, GLW, FDX, JAKK, M, PNC, PPO, RDS-A, SKX, TEVA, UA, WY)

Administrator — Mon, 06 Feb 2012 13:29:51 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Monday morning.

AeroVironment, Inc. (NASDAQ: AVAV) Raised to Buy at Goldman Sachs.
Aetna, Inc. (NYSE: AET) named Bull of the Day at Zacks.
Alcatel-Lucent S.A. (NYSE: ALU) Cut to Sell at S&P Equity Research.
Ann Inc. (NYSE: ANN) Cut to Underperform at Barclays.
Cardinal Health Inc. (NYSE: CAH) Reiterated Buy with $52 price target at Argus.
Comerica Inc. (NYSE: CMA) Raised to Outperform at RBC.
Corning Inc. (NYSE: GLW) Raised to Overweight at Piper Jaffray.
FedEx Corporation (NYSE: FDX) Raised to Buy at BofA/ML.
JAKKS Pacific, Inc. (NASDAQ: JAKK) named Bear of the Day at Zacks.
Macy’s Inc. (NYSE: M) named as value stock of the day at Zacks.
PNC Financial Services Group, Inc. (NYSE: PNC) Cut to Market Perform at BMO.
Polypore International Inc. (NYSE: PPO) Raised to Outperform at Baird.
Royal Dutch Shell (NYSE: RDS-A) Cut to Neutral at Credit Suisse.
Skechers U.S.A., Inc. (NYSE: SKX) Raised to Neutral at Stern Agee.
Teva Pharmaceutical Industries (NASDAQ: TEVA) Cut to Equal-weight at Morgan Stanley.
Under Armour Inc. (NYSE: UA) Reiterated Buy with $90 target at Argus.
Weyerhaeuser Company (NYSE: WY) Cut to Sell at UBS.

If you enjoyed the top analyst calls, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We include major analyst upgrades and downgrades, IPO and M&A news, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AET, ALU, ANN, AVAV, CAH, CMA, FDX, GLW, JAKK, M, PNC, PPO, RDS-A, SKX, TEVA, UA, WY

24/7 Wall St. Closing Bell (FDX, BHP, INTC, TSLA, PNRA, MMR, AMTD, WFC, C, CHKP, KUTV, CNVO, VQ, RRD, CCL)

Paul Ausick — Tue, 17 Jan 2012 21:09:27 +0000

The markets opened higher this morning and all three major indexes have managed to hold onto most of their gains of the early morning. The S&P 500 index topped 1,300 for the first time since last summer, but hasn’t been able to remain at that level. The US dollar is trading weaker against the euro, but stronger against both the British pound and the Japanese yen. The dollar index is down a bit more than -0.5% at 81.071. Energy companies have done well today, even though natural gas prices have fallen below $2.50/thousand cubic feet. WTI crude oil is up nearly 2% at $100.62/barrel, while Brent crude is up only fractionally at $111.38/barrel. Gold is up more than 1% at $1,650.70.

The unofficial closing bells put the DJIA up about 60 points to 12,482.22 (0.48%), the NASDAQ rose more than 17 points (0.64%) to 2,728.08, and the S&P 500 rose 0.35% or nearly 5 points to 1,293.66.

There were several analyst upgrades and downgrades today, including FedEx Corp. (NYSE: FDX) cut to ‘hold’ at Jefferies; BHP Billiton Ltd. (NYSE: BHP) started as ‘buy’ at Goldman Sachs; Intel Corp. (NASDAQ: INTC) cut to ‘neutral’ at JPMorgan; Tesla Motors Inc. (NASDAQ: TSLA) raised to ‘buy’ at Wunderlich; and Panera Bread Co. (NASDAQ: PNRA) raised to ‘overweight’ at Morgan Stanley.

Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: McMoRan Exploration Co. (NYSE: MMR) is up 4.55% at $13.32; TD Ameritrade Holding Corp. (NASDAQ: AMTD) is down -1.72% at $16.02; Wells Fargo & Co. (NYSE: WFC) is up 0.67% at $29.81; Citigroup Inc. (NYSE: C) is down nearly -8% at $28.29; and Check Point Software Technologies Ltd. (NASDAQ: CHKP) is up nearly 8% at $54.93.

Other standouts from today include the following stocks:

Ku6 Media Co., Ltd. (NASDAQ: KUTV) is up nearly 154% at $3.50. The Chinese online video company has signed an agreement with Google Inc. (NASDAQ: GOOG) to offer international viewers a Chinese video channel on YouTube.

Convio Inc. (NASDAQ: CNVO) is up nearly 48% at $15.89, after setting a new 52-week high earlier. The provider of software to non-profit organizations has agreed to be acquired by Blackbaud Inc. (NASDAQ: BLKB) for $16/share, or about $312 million.

Venoco Inc. (NYSE: VQ) is up nearly 31% at $10.05. The independent oil and gas company is being taken private by its CEO. We have more coverage here.

R.R. Donnelly & Sons Co. (NYSE: RRD) is down nearly -16% at $12.12 after posting a new 52-week low of $12.08 earlier. The business services company said revenues for 2011 are going to be lower than expected.

Carnival Corp. (NYSE: CCL) is down nearly -14% at $29.57. The cruise ship operator is sinking following the disaster off the Italian coast that has left 11 dead and 29 missing. We have more coverage here.

Stay tuned for Wednesday. Federal Reserve Bank governor Daniel Tarullo is giving a speech. We have the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association mortgage applications
8:30 a.m. – Producer price index
9:15 a.m. – Federal Reserve report on industrial production
10:00 a.m. – Housing market index

Paul Ausick

Filed under: HI/LOW, Market Close, The Day Tagged: AMTD, BHP, C, CCL, CHKP, CNVO, FDX, INTC, KUTV, MMR, PNRA, RRD, TSLA, VQ, WFC

Top Analyst Upgrades & Downgrades (BZH, BHP, CCL, FDX, GGP, INTC, LLTC, LOGI, MTH, PNRA, POT, RYL, STLD, SF, TSLA, USB, WYNN)

Administrator — Tue, 17 Jan 2012 13:24:06 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Tuesday morning.

Beazer Homes USA, Inc. (NYSE: BZH) Cut to Underperform at Credit Suisse.
BHP Billiton Limited (NYSE: BHP) Started as Buy at Goldman Sachs.
Carnival Corporation (NYSE: CCL) Cut to Neutral at JPMorgan.
FedEx Corporation (NYSE: FDX) Cut to Hold at Jefferies.
General Growth Properties (NYSE: GGP) Raised to Buy at Stifel Nicolaus.
Intel Corporation (NASDAQ: INTC) Cut to Neutral at JPMorgan.
Linear Technology Corporation (NASDAQ: LLTC) Cut to Underweight at JPMorgan.
Logitech International SA (NASDAQ: LOGI) Cut to Underweight at JPMorgan.
Meritage Homes Corporation (NYSE: MTH) Cut to Underperform at Credit Suisse.
Panera Bread Co. (NASDAQ: PNRA) Raised to Overweight at Morgan Stanley.
Potash Corp. of Saskatchewan (NYSE: POT) Raised to Sector Outperform at CIBC.
Ryland Group Inc. (NYSE: RYL) Cut to Underperform at Credit Suisse.
Steel Dynamics Inc. (NASDAQ: STLD) Started as Buy at Deutsche Bank.
Stifel Financial Corporation (NYSE: SF) Raised to Buy with $37 target at Goldman Sachs.
Tesla Motors, Inc. (NASDAQ: TSLA) Raised to Buy at Wunderlich.
U.S. Bancorp (NYSE: USB) Cut to Neutral at Citigroup.
Wynn Resorts Ltd. (NASDAQ: WYNN) Raised to Positive at Susquehanna.

JON C. OGG

Filed under: Analyst Calls Tagged: BHP, BZH, CCL, FDX, GGP, INTC, LLTC, LOGI, MTH, PNRA, POT, RYL, SF, STLD, TSLA, USB, WYNN

24/7 Wall St. Closing Bell (GS, APOL, KSS, SNDK, FDX, CMC, IPSU, PSMT, GBX, TXI, ACHC, KKD, RFMD, SABA, HOV)

Paul Ausick — Fri, 06 Jan 2012 21:08:02 +0000

Markets opened lower today and of the three major indexes, only the S&P 500 was able to break through to positive territory and stay there for most of the day. The DJIA stayed negative all day and the NASDAQ composite only briefly broke through to a gain. This morning’s encouraging report on non-farm payrolls and a drop in the unemployment rate didn’t have much positive effect, but things would like have been worse without the job gains. Two speeches by Federal Reserve Bank presidents stressed that policymakers need to do more about raising employment, and the comments were couched in terms that might indicate that the Fed is looking at raising the inflation target. Crude oil prices are mixed, with WTI crude at down -0.25% at $101.56 and Brent crude up 0.34% at $113.12. Gold was up only slightly, closing at $1,617.70.

The unofficial closing bells put the DJIA down nearly 56 points to 12,359.92 (-0.45%), the NASDAQ rose more than 4 points (0.16%) to 2,674.22, and the S&P 500 fell -0.25% or more than 3 points to 1,277.81.

There were several analyst upgrades and downgrades today, including Goldman Sachs Group Inc. (NYSE: GS) cut to ‘market perform’ at Wells Fargo; Apollo Group Inc. (NASDAQ: APOL) reiterated as ‘outperform’ and target price raised to $60 at Credit Suisse; Kohl’s Corp. (NYSE: KSS) cut to ‘hold’ at Argus; SanDisk Corp. (NASDAQ: SNDK) raised to ‘buy’ at Sterne Agee; and FedEx Corp. (NYSE: FDX) started as ‘outperform’ at Wells Fargo.

Earnings reports of note since markets closed yesterday include: Commercial Metals Co. (NYSE: CMC) is up more than 4% at $15.01; Apollo Group is up about 5.5% at $56.68, after posting a new 52-week high of $57.09 earlier today; Imperial Sugar Co. (NASDAQ: IPSU) is down nearly -6% at $3.32; PriceSmart Inc. (NASDAQ: PSMT) is down nearly -15% at $60.13; Greenbrier Cos. (NYSE: GBX) is up nearly 9% at $25.97; and Texas Industries Inc. (NYSE: TXI) is down more than -3% at $28.15.

Other standouts from today include the following stocks:

Acadia Healthcare Co. Inc. (NASDAQ: ACHC) is up nearly 19% at $11.60 after posting a new 52-week high of $11.81 earlier today. The healthcare services company agreed to pay $91 million to acquire three additional facilities in Arizona, Oklahoma, and Texas.

Krispy Kreme Doughnuts Inc. (NYSE: KKD) is up nearly 12% at $7.16. The doughnut maker recently opened its 10,000th store and the stock was upgraded to ‘overweight’ at Stephens with a target price of $8.50.

RF Micro Devices Inc. (NASDAQ: RFMD) is down more than -19% at $4.55 after posting a new 52-week low of $4.45 earlier today. The technology company warned that sales in the third fiscal quarter would be 10% lower than previously forecast.

EnerNOC Inc. (NASDAQ: ENOC) is down nearly -9% at $9.43. The energy services company’s revenues are threatened by a recent regulatory ruling.

Saba Software Inc. (NASDAQ: SABA) is up more than 15% at $8.54. The cloud software company lost less than expected in its most recent quarter and said that it would return to profitability in the second of the year.

Hovnanian Enterprises Inc. (NYSE: HOV) is up more than 10% at $1.73. The homebuilder’s stock is probably reacting to the remarks by two Fed presidents supporting additional lending and homebuilding.

Stay tuned for Monday. Atlanta Fed President Dennis Lockhart is giving a speech. Here are the noteworthy events on the schedule (all times Eastern):

11:30 a.m. – 3- and 6-month Treasury bill auctions
3:00 p.m. – Federal Reserve consumer credit report

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ACHC, APOL, CMC, FDX, GBX, GS, HOV, IPSU, KKD, KSS, PSMT, RFMD, SABA, SNDK, TXI

Top Analyst Upgrades & Downgrades (AGCO, APOL, BSX, CECO, DNDN, FDX, GS, HUN, ITW, INTC, KSS, SNDK, AMTD, TRV, UPS, URBN, VOD, HOGS)

Administrator — Fri, 06 Jan 2012 13:19:44 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Friday morning.

AGCO Corporation (NYSE: AGCO) Maintained Outperform as Bull of the Day at Zacks.
Apollo Group Inc. (NASDAQ: APOL) Reiterated Outperform and Raised Target to $60 at Credit Suisse.
Boston Scientific Corporation (NYSE: BSX) Maintained Hold but lowered estimates at Argus.
Career Education Corporation (NASDAQ: CECO) Cut to Hold at Argus.
Dendreon Corporation (NASDAQ: DNDN) Reiterated Neutral with $10 target at Baird.
FedEx Corporation (NYSE: FDX) Started as Outperform at Wells Fargo.
Goldman Sachs Group Inc. (NYSE: GS) Cut to Market Perform by Wells Fargo.
Huntsman Corporation (NYSE: HUN) named as Value Stock of the Day at Zacks.
Illinois Tool Works. Inc. (NYSE: ITW) Cut to Neutral at Credit Suisse.
Intel Corporation (NASDAQ: INTC) Cut to Neutral at Stern Agee.
Kohl’s Corporation (NYSE: KSS) Cut to Hold at Argus.
SanDisk Corporation (NASDAQ: SNDK) Raised to Buy at Stern Agee.
TD AMERITRADE Holding Corporation (NASDAQ: AMTD) Raised to Buy at Deutsche Bank.
The Travelers Companies, Inc. (NYSE: TRV) Raised to Outperform at Wells Fargo.
United Parcel Service, Inc. (NYSE: UPS) Started as Market Perform at Wells Fargo.
Urban Outfitters Inc. (NASDAQ: URBN) Started as Underperform and named as Bear of the Day at Zacks.
Vodafone Group PLC (NYSE: VOD) Raised to Buy at Goldman Sachs.
Zhongpin, Inc. (NASDAQ: HOGS) Started as outperform at Oppenheimer.

If you enjoyed this morning’s Wall Street research notes, you can sign up to receive these directly in your inbox each morning by joining our free email list in the box below. We also include major movers, key stock calls, news on Warren Buffett and other gurus, as well as special exclusive feature stories.

JON C. OGG

Filed under: Analyst Calls Tagged: AGCO, AMTD, APOL, BSX, CECO, DNDN, FDX, GS, HOGS, HUN, INTC, ITW, KSS, SNDK, TRV, UPS, URBN, VOD

24/7 Wall St. Closing Bell (CSCO, FSLR, SI, BRCM, AFFY, DFS, FDX, PIR, SCHL, WGO, SONO, NVLS, GEVO, ZOLL, BPAX, PEIX)

Paul Ausick — Thu, 15 Dec 2011 21:05:03 +0000

US markets opened fast this morning, up nearly 1% in the first hour of trading before giving most of the gain back by mid-morning and then wandering around a gain of less than 0.5% for the rest of the day. Better manufacturing data from Europe, and solid manufacturing gains in the US helped the market in the early going. The US dollar was down against the euro, the yen, and the British pound. Crude oil prices fell today, with WTI down more than -1.5% at $93.44/barrel and Brent down about -0.9% at $103.33. Gold continued its slide as well today, down more than -1% at $1,568.80/ounce.

The unofficial closing bells put the DJIA up nearly 47 points to 11,869.95 (0.39%), the NASDAQ rose nearly 2 points (0.07%) to 2,541.01, and the S&P 500 rose 0.33% or about 4 points to 1,215.83.

There were several analyst upgrades and downgrades today, including Cisco Systems Inc. (NASDAQ: CSCO) started as ‘buy’ at Nomura. Other ratings actions today include First Solar Inc. (NASDAQ: FSLR) cut from ‘buy’ to ‘neutral’ at R.W. Baird; Siemens AG (NYSE: SI) cut from ‘buy’ to ‘neutral’ at Goldman Sachs; Broadcom Corp. (NASDAQ: BRCM) raised to ‘outperform’ at Wells Fargo; and Affymetrix Inc. (NASDAQ: AFFY) raised from ‘neutral’ to ‘buy’ at Goldman Sachs.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Discover Financial Services (NYSE: DFS) is down -3.2% at $23.06; FedEx Corp. (NYSE: FDX) is up almost 8% at $83.45; Pier 1 Imports, Inc. (NYSE: PIR) is up 0.23% at $13.17; Scholastic Corp. (NASDAQ: SCHL) is up more than 4% at $26.73; and Winnebago Industries, Inc. (NYSE: WGO) is down -0.15% at $6.80.

Other standouts from today include the following stocks:

SonoSite Inc. (NASDAQ: SONO) is up more than 27% at $53.68, a new 52-week high. The ultrasound device maker has been acquired by Japan’s Fujifilm Holdings Inc. for $54/share, or about $995 million. Our coverage is here.

Novellus Systems, Inc. (NASDAQ: NVLS) is up more than 17% at $40.68, after posting a new 52-week high of $42.50 earlier today. The semiconductor equipment maker is being acquired by Lam Research Corp. (NASDAQ: LRCX) for $3.3 billion in an all-stock deal. More coverage here.

Gevo Inc. (NASDAQ: GEVO) is up more than 13.5% at $6.41. The biofuel and chemical company signed an agreement with The Coca-Cola Co. (NYSE: KO) to develop a new bio-derived plastic bottle.

Zoll Medical Corp. (NASDAQ: ZOLL) is up more than 29% at $60.47, after posting a new 52-week high earlier today of $63.86. The medical device maker’s wearable defibrillator has been re-affirmed for Medicare coverage.

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) is down more than -77% at $0.48, after posting a new 52-week low of $0.46 earlier today. The biopharmaceutical company reported that its experimental drug to enhance libido in post-menopausal women failed a late-stage trial.

Pacific Ethanol Inc. (NASDAQ: PEIX) is down nearly -18% at $0.87. The ethanol maker announced the completion of a sale of about 12.6 million shares and warrants to 11 private investors for just over $8 million in cash.

Stay tuned for Friday. Chicago Federal Reserve Bank President Charles Evans and Dallas Federal Reserve Bank President Richard Fisher are speaking tomorrow. Here is another other noteworthy event on the schedule (all times Eastern):

8:30 a.m. – Consumer price index for November released

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AFFY, BPAX, BRCM, CSCO, DFS, FDX, FSLR, GEVO, NVLS, PEIX, PIR, SCHL, SI, SONO, WGO, ZOLL

24/7 Wall St. Closing Bell (GE, YHOO, YUM, MO, AVP, GRPN, JOY, SYNO, ADBE, DFS, FDX, FSLR, AVP, EONC, SGI, SPWR, RVSN)

Paul Ausick — Wed, 14 Dec 2011 21:09:02 +0000

Equity markets started the day down and stayed there all day. Traders were mirroring the action on European and Asian markets, which all settled down before the US markets opened this morning. Falling crude oil prices led most commodities down, but had a favorable impact on airlines stocks that may not have to pay so much for fuel next month. A record low yield on 30-year Treasury bonds pushed stock prices up slightly in the afternoon, but the effect was short lived. WTI crude oil is down more than -5% at $94.93/barrel, and Brent crude oil is also down nearly -4.7% at 104.81/barrel. Gold is down more than -5% at $1,576.40, and looks to settle at its lowest point since mid-July.

The unofficial closing bells put the DJIA down nearly 132 points to 11,823.48 (-1.1%), the NASDAQ fell nearly 40 points (-1.55%) to 2,539.31, and the S&P 500 fell -1.13% or nearly 14 points to 1,211.82. So far this week, the indexes have closed lower every day.

There were several analyst upgrades and downgrades today, including General Electric (NYSE: GE) reiterated as ‘outperform’ with the target price raised to $22 at Credit Suisse. Other ratings actions today include Yahoo Inc. (NASDAQ: YHOO) restarted as ‘sell’ at Goldman Sachs; Yum! Brands Inc. (NYSE: YUM) reiterated as ‘buy’ and target price raised to $60 at Argus; Altria Group Inc. (NYSE: MO) cut to ‘hold’ at Stifel Nicolaus; and Avon Products Inc. (NYSE: AVP) raised to ‘outperform’ at BMO Capital. Groupon Inc. (NASDAQ: GRPN) received ratings from a slew of analysts this morning, and the results are in our full ratings coverage.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Joy Global Inc. (NYSE: JOY) is down nearly -11% at $75.54 and Synovis Life Technologies Inc. (NASDAQ: SYNO) is up 0.2% at $27.83. Synovis received a buyout offer yesterday at $28/share from Baxter International Inc. (NYSE: BAX). Tomorrow’s big earnings releases come from Adobe Systems Inc. (NASDAQ: ADBE), Discover Financial Services (NYSE: DFS), and Fedex Corp. (NYSE: FDX).

Other standouts from today include the following stocks:

First Solar Inc. (NASDAQ: FSLR) is down more than -21% at $33.46, after posting a new 52-week low of $33.08 earlier today. The solar PV maker lowered guidance this morning. See our coverage here.

Avon Products Inc. (NYSE: AVP) is up almost 5.5% at $17.02. The cosmetics company is replacing CEO Andrea Jung. We have more on the story here.

eOn Communications Corp. (NASDAQ: EONC) is up about 108% at $2.12. The online marketing company reported good earnings yesterday, but not that good. Investors must be anticipating a buyout offer.

Silicon Graphics International Corp. (NASDAQ: SGI) is down nearly -17.5% at . The computer maker’s president/CEO has resigned, effective January 1st, to take a position as president and CEO at another company.

SunPower Corp. (NASDAQ: SPWR) is down more than -15% at $5.35, after posting a new 52-week low of $5.34. The solar maker is caught in the general sell-off of solar stocks following the lowered guidance from First Solar.

RADVision Ltd. (NASDAQ: RVSN) is down nearly -12% at $8.57. The communications equipment maker’s shares jumped more than 14% yesterday on talk of a buyout by Avaya. The falling share price is very likely discounting yesterday’s rumor.

Stay tuned for a busy Thursday. Here are some other noteworthy events on the schedule (all times Eastern):

8:30 a.m. – New unemployment claims report
8:30 a.m. – Producer price index report
8:30 a.m. – Empire State Manufacturing survey
9:15 a.m. – Industrial production report
9:45 a.m. – Bloomberg consumer comfort index
10:00 a.m. – Philadelphia Federal Reserve survey
10:30 a.m. – EIA weekly natural gas report
1:00 p.m. – 5-year TIPS auction
4:30 p.m. – Federal Reserve balance sheet and money supply report

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ADBE, AVP, DFS, EONC, FDX, FSLR, GE, GRPN, JOY, MO, RVSN, SGI, SPWR, SYNO, YHOO, YUM

The Busiest Shopping Day in History

247wallst — Mon, 12 Dec 2011 11:31:10 +0000

FedEx (NYSE: FDX) expects December 12 to be the busiest day in its history, as far as shipments through its system are concerned. That is one more sign that the consumer has attained a level of optimism not seen for three holiday seasons. And it is a sign that GDP may explode upward in Q4.

According to FedEx, predicting December 12 volume:

Company forecasters expect FedEx will move approximately 17 million shipments — almost double its daily average volume — through its global networks on that day.

As e-commerce becomes a larger portion of retail spending, and more retailers offer free shipping as a way to draw customers, shipping volumes should continue to increase year after year. FedEx may make hundreds of millions of dollars based on the trend. But retailers could lose money as the costs of free shipping erode their margins — or may turn them negative. But the consumer is out in force, and he does not care whether or not stores, online or bricks-and-mortar, make money.

Only two months ago, economists expected GDP growth in the fourth quarter would be little better than 2%. High employment, a lack of increase in real wages and a possible end to unemployment insurance at year-end for 1.7 million people should have kept shoppers away from stores. Shoppers, however, have rushed into retail establishments. Experts do not know why these people have had such a rapid change of heart. The improvement, however, could lift GDP to 3% growth, or higher, for the final three months of the year.

One reason people may have increased retail activity is that they have paid down a large part of their consumer debt from three years ago, when they were highly leveraged. They now have more access to money from their savings accounts or from credit cards. This will push them back into a leveraged position next year, but many do not seem to care.

The momentum could roll into next year. Unemployment could improve, although not rapidly. The value of homes could improve, even though they will not recover to the 2005/2006 peak for years. Somehow, the consumer economy has returned to a fairly healthy state. That optimism may continue into 2012 — for some reason.

Douglas A. McIntyre

Filed under: Retail Tagged: FDX

What’s Important in the Financial World (12/12/2011) Berkshire’s New Chairman, Unemployment Benefits for 2012

247wallst — Mon, 12 Dec 2011 11:30:20 +0000

It may be that holiday spending actually is accelerating into mid-December. Some economists argued that the surge of Black Friday activity would burn out consumer activity. The contrary is true, based on recent data. FedEx (NYSE: FDX) stuck to its forecast that it would ship 17 million packages today, about double its normal daily average. Comscore reported that e-commerce activity was up by 15% in the first week in December. Online retail revenue has reached $24.6 billion, the research firm reports, since the start of November — a record by a big margin.

Uncertainty in Europe

The sovereign debt crisis in Europe, which appeared to be largely solved last week, apparently is not. Moody’s reported today that it may still downgrade the debts of some major nations in the region. The grand plan set by EU leaders is still short on details. The money added to a new fund will be inadequate to cover a default of Italy’s national obligations. Yields on Italian and Spanish paper are still near historic highs. Stock markets across the globe likely will tick down this week unless there is more evidence that the EU has its financial house in order.

The New Warren Buffett

A new mystery surrounds who will take Warren Buffett’s job as head of Berkshire Hathaway (NYSE: BRK-A, BRK-B) if he dies or retires. It has been widely believed that the company would add a CEO to run operations and one or more investment professionals to oversee the huge investment portfolio. A profile of Buffett on “60 Minutes” showed that the “Oracle of Omaha” plans to replace himself as chairman with his son Howard Buffett, who is a farmer on a nearly full-time basis. Buffett commented, “You worry that somebody will be in charge of Berkshire that uses it as their own sandbox in some way; that changes the way that decisions are made in reference to the shareholders. The odds of that happening are very, very low. Having Howie there adds just one extra layer of protection.” Investors who do not want a farmer to play a key role in the conglomerate may not take the news well.

No Jobless Benefits Extension

Congress may not pass a bill to extend jobless benefits into 2012. The first effect will be that 1.7 million Americans completely lose their financial safety nets. The figure would rise to 6 million by the end of 2012. The debate about the extension revolves around several issues. The first is whether, in a time of austerity, the federal government can afford the tens of billions of dollars it would have to pay to extend payments. The second is whether people who receive benefits are less likely to seek jobs because they have little economic incentive to do so. And another is how much the effect would be on the consumer economy, and thus GDP, if 6 million consumers drop out the number of Americans who currently can afford to buy goods and services.

Douglas A. McIntyre

Filed under: Market Open Tagged: BRK-A, BRK-B, FDX