24/7 Wall St. » FTE

Top Analyst Upgrades & Downgrades (CCL, CHK, LNG, CQP, CREE, EXPE, FTE, GOOG, JNS, KR, MGM, ODP, OMX, PVH, RL, TEF, TXT)

Administrator — Wed, 18 Jan 2012 13:28:25 +0000

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

Carnival Corp. (NYSE: CCL) Maintained Hold but cut estimates at Argus.
Chesapeake Energy Corporation (NYSE: CHK) Cut to Hold at Brean Murray.
Cheniere Energy Inc. (NYSE: LNG) Started as Outperform with $13.50 target at Credit Suisse
Cheniere Energy Partners, LP (NYSE: CQP) Started as Neutral with $20 target at Credit Suisse.
Cree Inc. (NASDAQ: CREE) maintained Buy with $33 target at Canaccord Genuity; Raised to Buy at ThinkEquity; Cut to Neutral at Ticonderoga.
Expedia, Inc. (NASDAQ: EXPE) Started as Underweight at JPMorgan.
France Telecom S.A. (NYSE: FTE) Cut to Sell at Deutsche Bank.
Google Inc. (NASDAQ: GOOG) Cut to Market Perform from Outperform at Wells Fargo.
Janus Capital Group, Inc. (NYSE: JNS) Cut to Sell at Citigroup.
The Kroger Co. (NYSE: KR) Cut to Market Perform at BMO Capital.
MGM Resorts International (NYSE: MGM) Raised to Neutral at Credit Suisse.
Office Depot, Inc. (NYSE: ODP) Raised to Equal-weight at Barclays.
OfficeMax Inc. (NYSE: OMX) Raised to Equal-weight at Barclays.
PVH Corporation (NYSE: PVH) Started as Neutral with $72 target at Credit Suisse.
Ralph Lauren Corporation (NYSE: RL) Started as Outperform with $168 target at Credit Suisse.
Telefonica SA (NYSE: TEF) Cut to Sell at UBS.
Textron Inc. (NYSE: TXT) Cut to Neutral at JPMorgan.

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: Analyst Calls Tagged: CCL, CHK, CQP, CREE, EXPE, FTE, GOOG, JNS, KR, LNG, MGM, ODP, OMX, PVH, RL, TEF, TXT

Top Analyst Upgrades & Downgrades (AXP, ATML, BLK, CVX, CLR, EPR, EQR, FTE, HBC, JNPR, LEN, LECO, MWE, MSFT, OAS, SVU)

Administrator — Thu, 12 Jan 2012 13:29:11 +0000

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

American Express Co. (NYSE: AXP) Reiterated Buy with $60 target at Argus.
Atmel Corporation (NASDAQ: ATML) Maintained Buy but cut target to $11 at Canaccord Genuity.
BlackRock Inc. (NYSE: BLK) Started as Buy at UBS.
Chevron Corporation (NYSE: CVX) Maintained Outperform but cut earnings estimates at Credit Suisse.
Continental Resources (NYSE: CLR) Cut to Hold with $79 target at Canaccord Genuity.
Entertainment Properties Trust (NYSE: EPR) Cut to Neutral at JPMorgan.
Equity Residential (NYSE: EQR) Cut to Neutral at JPMorgan.
France Telecom SA (NYSE: FTE) Cut to Underweight at JPMorgan.
HSBC Holdings PLC (NYSE: HBC) Cut to Underperform at BofA/ML.
Juniper Networks Inc. (NYSE: JNPR) Cut to Hold at Argus.
Lennar Corporation (NYSE: LEN) Cut to Market Perform at KBW.
Lincoln Electric Holdings, Inc. (NASDAQ: LECO) named as Value stock of the day at Zacks.
MarkWest Energy Partners (NYSE: MWE) named as Bull of the Day at Zacks.
Microsoft Corporation (NASDAQ: MSFT) Maintained Outperform but cut target to $34 from $35 at Credit Suisse; Maintained Hold and lowered estimates at Argus.
Oasis Petroleum (NYSE: OAS) Cut to Hold with $32 target at Canaccord Genuity.
SUPERVALU Inc. (NYSE: SVU) Maintained Neutral but cut target to $7 from $10 at Credit Suisse.

JON C. OGG

Filed under: Analyst Calls Tagged: ATML, AXP, BLK, CLR, CVX, EPR, EQR, FTE, HBC, JNPR, LECO, LEN, MSFT, MWE, OAS, SVU

Media Digest (12/26/2011) Reuters, WSJ, FT, Bloomberg

247wallst — Mon, 26 Dec 2011 10:58:39 +0000

Sony (NYSE: SNE) will sell its LCD business to Samsung for $940 million. (Reuters)

The yuan hits a high against the dollar and may gain 4% this year. (Reuters)

Amazon.com’s (NASDAQ: AMZN) program to sell Kindle devices may help it increase its lead in e-commerce just as online shopping surges. (Reuters)

The International Monetary Fund’s Lagarde says the global expansion is still under threat from sovereign debt problems and slow growth in developed nations. (Reuters)

France Telecom (NYSE: FTE) to sell its Swiss operations to Apax for 1.6 billion euros. (Reuters)

Banks begin to install systems to trade individual currencies of euro-area nations. (WSJ)

Japan and China reach agreements to increase economic ties. (WSJ)

Shareholders of NYSE Euronext (NYSE: NYX) lose some of their taste for a merger with Deutsche Boerse. (WSJ)

The release of more supplies of Johnson & Johnson’s (NYSE: JNJ) cancer drug Doxil may be delayed until the middle of next year. (WSJ)

Long-term UK bond yields hit multidecade lows. (FT)

Japan approves a $1.16 trillion budget. (FT)

Toyota (NYSE: TM) to build a new, smaller version of the Prius. (Bloomberg)

China may start its own credit rating agency. (Bloomberg)

Douglas A. McIntyre

Filed under: Press Digest Tagged: AMZN, FTE, JNJ, NYX, SNE, TM

Top Analyst Upgrades & Downgrades (AKS, AU, FTE, GGP, HON, LAZ, PNW, GOLD, TEF, TEVA, TMK, UNFI, URI, MTN, WCG)

Administrator — Mon, 19 Dec 2011 13:23:47 +0000

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

AK Steel Holding Corporation (NYSE: AKS) Raised to Outperform from Market Perform at Wells Fargo.
AngloGold Ashanti Ltd. (NYSE: AU) Cut to Sell from Neutral by Goldman Sachs.

France Telecom S.A. (NYSE: FTE) Cut to Underperform as Bear of the Day at Zacks Investment Research.
General Growth Properties Inc. (NYSE: GGP) Cut to Neutral from Outperform at Credit Suisse.
Honeywell International Inc. (NYSE: HON) Raised to Outperform as Bull of the Day at Zacks Investment Research.

Lazard Ltd. (NYSE: LAZ) Raised to Outperform from Neutral at Credit Suisse.
Pinnacle West Capital Corporation (NYSE: PNW) Cut to Neutral from Outperform at Credit Suisse.
Randgold Resources Limited (NASDAQ: GOLD) Cut to Sell from Neutral at Goldman Sachs.
Telefonica, S.A. (NYSE: TEF) Cut to Neutral from Overweight at HSBC.
Teva Pharmaceutical Industries (NASDAQ: TEVA) Reiterated Buy with $52 target at Canaccord Genuity.
Torchmark Corp. (NYSE: TMK) Raised to Neutral from Underperform at Credit Suisse.
United Natural Foods, Inc. (NASDAQ: UNFI) Raised to Buy from Hold at Canaccord Genuity.
United Rentals, Inc. (NYSE: URI) Raised to Top Pick at RBC.
Vail Resorts Inc. (NYSE: MTN) Started as Outperform at Credit Suisse.
WellCare Health Plans, Inc. (NYSE: WCG) named as value stock of the day at Zacks Investment Research.

JON C. OGG

Filed under: Analyst Calls Tagged: AKS, AU, FTE, GGP, gold, HON, LAZ, MTN, PNW, TEF, TEVA, TMK, UNFI, URI, WCG

Top Analyst Upgrades & Downgrades (CELL, CSCO, DECK, DO, FTE, HTS, HWAY, HERO, LVS, LULU, MPEL, NRG, PM, SLB, SAH, STFC, VE, VRSN, WFT, YUM)

Administrator — Thu, 08 Dec 2011 13:21:30 +0000

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

Brightpoint Inc. (NASDAQ: CELL) Reiterate as Buy with a $14 price target objective at Canaccord Genuity.
Cisco Systems Inc. (NASDAQ: CSCO) Reiterated as Buy with $24 price target objective at Argus.
Deckers Outdoor Corporation (NASDAQ: DECK) Reiterated as Buy with a $122 price target objective at Canaccord Genuity.
Diamond Offshore Drilling Inc. (NYSE: DO) Started as Sell with a $70 target price objective at Goldman Sachs.
France Telecom (NYSE: FTE) Cut to Underperform and named as Bear of the Day by Zacks Investment Research.
Hatteras Financial Corporation (NYSE: HTS) Cut to Neutral at Stern Agee.
Healthways Inc. (NASDAQ: HWAY) Raised to Buy at Stifel Nicolaus.
Hercules Offshore, Inc. (NASDAQ: HERO) Started as Neutral at Goldman Sachs.
Las Vegas Sands Corp. (NYSE: LVS) Cut to Neutral at Janney Capital Markets.
Lululemon Athletica Inc. (NASDAQ: LULU) Reinitiated as Buy at Stern Agee.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) Raised to Outperform from Neutral at Credit Suisse.
NRG Energy, Inc. (NYSE: NRG) Cut to Neutral from Buy at UBS.
Philip Morris International, Inc. (NYSE: PM) Cut to Neutral from Buy at Nomura.
Schlumberger Limited (NYSE: SLB) Started as Neutral at Goldman Sachs.
Sonic Automotive, Inc. (NYSE: SAH) named as value stock of the day by Zacks Investment Research.
State Auto Financial (NASDAQ: STFC) Raised to Buy from Neutral at Janney Capital Markets.
Veolia Environnement S.A. (NYSE: VE) Cut to Hold from Buy at Deutsche Bank.
VeriSign, Inc. (NASDAQ: VRSN) Raised to Outperform and featured as the Bull of the Day by Zacks Investment Research.
Weatherford International Ltd. (NYSE: WFT) Started as Buy with a $22 price target objective at Goldman Sachs.
Yum! Brands, Inc. (NYSE: YUM) Reiterated Buy with $65 fair value target at Janney Capital Markets.

JON C. OGG

Filed under: Analyst Calls Tagged: CELL, CSCO, DECK, DO, FTE, HERO, HTS, HWAY, LULU, LVS, MPEL, NRG, PM, SAH, SLB, STFC, VE, VRSN, WFT, YUM

European ADRs Surging on Global Central Bank Action (ALU, MT, BHP, STD, IRE, CS, UBS, DB, FTE, PHG, ERIC, NOK, NBG, SI, TI)

Administrator — Wed, 30 Nov 2011 14:03:50 +0000

The action out of China’s virtual easing by lowering reserve requirements was already a boost to global markets, but the coordinated central bank efforts of the U.S., Canada, Europe, Switzerland, and the U.K. to preserve global liquidity is creating a boom for stocks today at the expense of the U.S. dollar.

Alcatel-Lucent (NYSE: ALU) is up only 1.25% at $1.60 and shares are flat in local trading in Paris. Arcelor Mittal (NYSE: MT) is up 10% at $18.26 and BHP Billiton Ltd. (NYSE: BHP) is up 6.5% at $74.21.

Banco Santander, S.A. (NYSE: STD) is up 5.6% at $7.56 and the stock is up 4% in local trading in Madrid. The Bank of Ireland (NYSE: IRE) is now up 8.6% at $4.92 and shares are up 7% in local trading in Dublin. National Bank of Greece SA (NYSE: NBG) is up 4.9% at $2.55 in New York but shares are up almost 3% in local trading in Athens.

Credit Suisse Group (NYSE: CS) is up 7% at $24.03 and UBS AG (NYSE: UBS) is up 6.1% at $12.18. Deutsche Bank AG (NYSE: DB) is up 7.9% at $38.36 and shares are up 6.6% in local trading in Frankfurt.

France Telecom (NYSE: FTE) is up 4.3% at $17.01 and shares are up 3.4% in local trading in Paris. Koninklijke Philips Electronics NV (NYSE: PHG) is up 4.6% at $20.00 in New York trading. LM Ericsson Telephone Co. (NASDAQ: ERIC) is up 5.5% at $10.37; Nokia Corporation (NYSE: NOK) is up 4.2% at $5.73. Funny, Nokia’s problems are not really tied to “liquidity” issues or other uncertainties. Siemens AG (NYSE: SI) is up 5.9% at $101.54 in New York and shares are up 4.1% in local trading in Frankfurt.

Telecom Italia SpA (NYSE: TI) is up 5.6% at $11.32 in New York and shares are up 4% in local trading in Milan.

JON C. OGG

Filed under: ADR, International Markets, Pre-Market Activity, Trading Alert Tagged: ALU, BHP, CS, DB, ERIC, FTE, IRE, MT, NBG, NOK, PHG, SI, STD, TI, UBS

European ADRs Dragging Down U.S. Trading (ALU, MT, BHP, STD, IRE, CS, UBS, DB, FTE, PHG, ERIC, NOK, NBG, SI, TI)

Administrator — Tue, 15 Nov 2011 12:44:11 +0000

The Eurozone growth rate of 0.2% in the third quarter may have met expectations but this is just one more example that growth is so low already that getting out of the debt hole is going to be no easy task. As a result, we have another day of Euro-led selling and almost every major European name that has a New York ADR tied to its is trading lower.

Alcatel-Lucent (NYSE: ALU) is down another 2.5% at $1.92 and shares are down 2.6% in local trading in Paris.

Arcelor Mittal (NYSE: MT) is down 3.3% at $18.36 and BHP Billiton Ltd. (NYSE: BHP) is down 1.5% at $74.85.

Banco Santander, S.A. (NYSE: STD) is down almost 2% at $7.47 and the stock is down 2% in local trading in Madrid.

The Bank of Ireland (NYSE: IRE) is down 2.1% at $4.70 and shares are down 2.3% in local trading in Dublin.

Credit Suisse Group (NYSE: CS) is down 3.6% at $23.32 and UBS AG (NYSE: UBS) is down over 2.5% at $11.60.

Deutsche Bank AG (NYSE: DB) is down 2.2% at $37.68 and shares are down 2.6% in Frankfurt.

France Telecom (NYSE: FTE) has not traded in New York but shares are indicated under $17.00 after a $17.10 close on Monday; shares are down 1% in Paris.

Koninklijke Philips Electronics NV (NYSE: PHG) is down 3.1% at $18.86 in New York trading.

LM Ericsson Telephone Co. (NASDAQ: ERIC) is down 1.8% at $9.99; Nokia Corporation (NYSE: NOK) is indicated down almost 2% at $6.42.

National Bank of Greece SA (NYSE: NBG) is down 5.5% at $0.52 in New York but shares are down 8.5% in local trading in Athens.

Siemens AG (NYSE: SI) is down 1.2% in New York and shares are down 1.7% in local trading in Frankfurt.

Telecom Italia SpA (NYSE: TI) is down almost 3% at $11.55 in New York and shares are down almost 3.1% in local trading in Milan.

JON C. OGG

Filed under: ADR, International Markets, Pre-Market Activity, Trading Alert Tagged: ALU, BHP, CS, DB, ERIC, FTE, IRE, MT, NBG, NOK, PHG, SI, STD, TI, UBS

European ADRs Follow Italy Much Lower, Wrecking U.S. Market Gains (E, LUX, TI, ALU, MT, BHP, STD, IRE, CS, UBS, DB, FTE, PHG, ERIC, NOK, NBG, SI, EWI)

Administrator — Wed, 09 Nov 2011 12:32:30 +0000

Well, it used to be Greece taking us down daily, but now it is the much larger concern of Italy. The markets were supposed to be cheering that Silvio Berlusconi was going to step down but then suddenly the fears of who would or could replace him and the uncertainty have set in. Now Italy’s ten-year yield is not just above 5% and 6%, but above 7%. Unlike Greece just being a flea on a dog, Italy is even larger than a dog’s tail and it is frankly too big to just get a bailout.

Eni SpA (NYSE: E) is down over 4% around $42.30 and shares are down 3% in Milan. Luxottica Group SpA (NYSE: LUX) has not traded and we do not yet have Ney Work indications, but shares were down 3.1% in Milan. Telecom Italia SpA (NYSE: TI) is indicated down around 7% in New York at $11.30 but shares are down 4.5% in local trading in Milan.

Elsewhere in Europe….

Alcatel-Lucent (NYSE: ALU) is down around $1.98 (ouch, 52-week low) after a $2.16 close in New York, and shares are down almost 4% in local trading in Paris.

Arcelor Mittal (NYSE: MT) is down over 8% at $19.03 and BHP Billiton Ltd. (NYSE: BHP) is down 4.5% at $76.47 in New York trading in the early pre-markets.

Banco Santander, S.A. (NYSE: STD) is down 7% at $7.50 in active early New York trading but the stock is down more than 3% in local trading in Madrid.

The Bank of Ireland (NYSE: IRE) is down 1.4% at $5.17 in New York and shares are down 2.2% in local trading in Dublin.

Credit Suisse Group (NYSE: CS) is down 7.1% at $24.77 and UBS AG (NYSE: UBS) is down 6.1% at $11.97 in early New York pre-market trading.

Deutsche Bank AG (NYSE: DB) is down over 9% at $36.80 in New York and shares are down about 5% in Frankfurt.

France Telecom (NYSE: FTE) has not traded in New York yet but its shares are down 2% in local trading in Paris.

Koninklijke Philips Electronics NV (NYSE: PHG) is indicated down around $19.65 after a $20.86 close in New York for a loss of close to 6%.

LM Ericsson Telephone Co. (NASDAQ: ERIC) is indicated down 5% around $10.15; Nokia Corporation (NYSE: NOK) is down 4.7% at $6.50.

National Bank of Greece SA (NYSE: NBG) is indicated flat to down a couple cents after a $0.59 close in New York but shares are down 4.1% in local trading in Athens.

Siemens AG (NYSE: SI) is down 4.5% at $98.56 in New York trading and shares are down 1.6% in local trading in Frankfurt.

iShares MSCI Italy Index (NYSE: EWI) is trading down 5.2% at $12.87.

Another rough day is being brought on by the woes of the nanny and endless welfare nations in Europe. S&P futures are down over 2% with well over two hours until the market opens.

JON C. OGG

Filed under: ADR, Economy, International Markets, Pre-Market Activity, Trading Alert Tagged: ALU, BHP, CS, DB, E, ERIC, EWI, FTE, IRE, LUX, MT, NBG, NOK, PHG, SI, STD, TI, UBS

European ADRs Leading The Charge Higher (ALU, MT, BHP, STD, IRE, CS, UBS, DB, FTE, PHG, ERIC, NOK, NBG, SI, TI, EWI, EWQ, EWG)

Administrator — Thu, 27 Oct 2011 12:01:02 +0000

Greece and the rest of the PIIGS were hurting us for so long that it seems hard to believe that the Europeans are setting a 50% haircut for the Greek sovereign debt and that they have agreed to a $1.4 trillion (1 trillion Euro) Euro-zone rescue package. The news is causing a major rally in the stock markets with the German DAX up over 4% and the French CAC up 5%. The FTSE in England is up 2.6% and the Greek stock market (there actually is one) is up over 6.5%. European ADRs are leading the markets higher this Thursday… Much higher.

Alcatel-Lucent (NYSE: ALU) is up over 2.5% at $2.80 and shares are up 5.1% in local trading in Paris.

Arcelor Mittal (NYSE: MT) is up almost 7% at $20.95 and BHP Billiton Ltd. (NYSE: BHP) is up 5.1% at $82.07.

Banco Santander, S.A. (NYSE: STD) is up 5.6% at $8.87 and the stock was up 6.1% in local trading in Madrid.

The Bank of Ireland (NYSE: IRE) is up 6.2% at $6.17 and shares are up 7% in local trading in Dublin.

Credit Suisse Group (NYSE: CS) is flying with shares up 9.6% at $30.67 and UBS AG (NYSE: UBS) is up 7.8% at $13.65.

Deutsche Bank AG (NYSE: DB) is up a whopping 14% at $46.00 and shares are up 15% in Frankfurt.

France Telecom (NYSE: FTE) is up 1.5% at $18.58 in New York and shares are up 1.5% in Paris as well.

Koninklijke Philips Electronics NV (NYSE: PHG) is up about 6% at $22.23.

LM Ericsson Telephone Co. (NASDAQ: ERIC) is up 5.6% at $10.83; Nokia Corporation (NYSE: NOK) is up 5.3% at $7.13.

National Bank of Greece SA (NYSE: NBG) is up 15.6% at $0.545 in New York but shares are up 12.2% in local trading in Athens.

Siemens AG (NYSE: SI) is up 3.1% at $108.58 in New York and shares are up 3% in local trading in Frankfurt.

Telecom Italia SpA (NYSE: TI) has not yet traded in New York but shares have a pre-trade indication of $13.20 versus a $12.73 close in New York; shares are up 4% in local trading in Milan.

iShares MSCI Italy Index (NYSE: EWI) is up 1.8% at $14.05. iShares MSCI France Index (NYSE: EWQ) is up 4.4% at $22.45 and iShares MSCI Germany Index (NYSE: EWG) is up 4.4% at $22.12.

JON C. OGG

Filed under: ADR, International Markets, Pre-Market Activity, Trading Alert Tagged: ALU, BHP, CS, DB, ERIC, EWG, EWI, EWQ, FTE, IRE, MT, NBG, NOK, PHG, SI, STD, TI, UBS

European ADRs Leading U.S. Stocks Lower (ALU, MT, BHP, STD, CS, DB, FTE, PHG, NOK, SI, TI, UBS)

Administrator — Tue, 04 Oct 2011 12:02:54 +0000

It feels like Groundhog day in Europe. Greece fears are escalating and European markets are sharply lower. The Europeans are just unwilling or are unable to deal with their woes in a timely manner. DJIA futures are down about 100 points again. These are the ADRs of mostly European companies which have traded this morning and leading the markets lower with the FTSE down 3.1%, the DAX down 3.7% and the CAC down 3.2% are as follows:

Alcatel-Lucent (NYSE: ALU) is indicated down 4% at $2.32 but shares are down about 7% in local trading in Paris.

Arcelor Mittal (NYSE: MT) is down “only” 1.1% at $15.33 and BHP Billiton Ltd. (NYSE: BHP) is down 2% at $63.10 this morning.

Banco Santander, S.A. (NYSE: STD) is down almost 1% at $7.61, but shares are down 3% in local trading in Madrid.

Credit Suisse Group (NYSE: CS) is down 2% at $23.73.

Deutsche Bank AG (NYSE: DB) is down 3.4% at $31.70; shares are down about 6% in Frankfurt.

France Telecom (NYSE: FTE) is down only $0.02 at $15.78 in New York; shares are down almost 1.3% in local trading in Paris.

Koninklijke Philips Electronics NV (NYSE: PHG) has not yet traded, but shares are indicated down around $16.70 versus a $17.26 close.

Nokia Corporation (NYSE: NOK) is down 3.3% at $5.26.

Siemens AG (NYSE: SI) is down 1.5% at $85.60, but shares are down 2.9% in local trading in Frankfurt.

Telecom Italia SpA (NYSE: TI) is actually indicated higher this morning but there has been no New York pre-market trading with about two hours until the open. Shares are up 0.9% in local trading in Milan.

UBS AG (NYSE: UBS) is up almost 2.5% at $10.83, but shares are down 0.8% in local markets.

It is going to be another bad day for emerging markets and all we can say there is that we noted the details of the chart deaths taking place in BRIC and emerging markets.

JON C. OGG

Filed under: ADR, International Markets, Trading Alert Tagged: ALU, BHP, CS, DB, FTE, MT, NOK, PHG, SI, STD, TI, UBS