Posts for Ticker ‘GD’

Top 10 Analyst Upgrades, Downgrades, Initiations (AEO, BNI, ENR, GET, GES, GD, STEC, VIA, YUM)

These are this Wednesday’s top ten analyst upgrades, downgrades, and initiations seen from Wall Street research calls:

American Eagle Outfitters (NYSE: AEO) Raised to Top Picks at FBR Capital; but shares were also Cut to Hold at Lazard.
Burlington Northern Santa Fe (NYSE: BNI) Cut to Neutral at JPMorgan; Cut to Neutral at UBS.
Energizer Holdings (NYSE: ENR) Cut to Neutral from Conviction Buy List at Goldman Sachs.
Gaylord Entertainment (NYSE: GET) Raised to Market Perform at both FBR and at Wells Fargo.
Guess? Inc. (NYSE: GES) Cut to Hold at Lazard.
General Dynamics (NYSE: GD) Raised to Outperform at Credit Suisse.
STEC, Inc. (NASDAQ: STEC) Cut to Perform at Oppenheimer; Cut to Source of Funds at ThinkEquity.
Viacom (NYSE: VIA) Raised to Outperform at Oppenheimer.
Yum! Brands (NYSE: YUM) Started as Buy at Janney Montgomery.

You can join our open email distribution list to get updates on top analyst upgrades and downgrades, top day trader alerts, IPO’s, secondary offerings, Warren Buffett and other guru activity, M&A and more.

JON C. OGG

Posted on: November 4, 2009 – 8:09 am in Analyst Calls, , , , , , , , ,

Trading Guns For Jobs

uncle samThe annual Conventional Arms Transfers to Developing Nations report from the Congressional Research Service shows that the US is still by far the world’s leading arms merchant.

A summary of the document in The New York Times reports that weapons agreements with the US in 2008 totaled $37.8 billion, about 68% of the entire worldwide market in arms. It is too bad that America already has such a large share. Arms may be one of the few large businesses that the US could expand in a way that would help the trade balance, GDP, and employment. American sales were only $25.4 billion in 2007, so US arms revenue may be growing at a rate too quick to sustain. Read More »

Posted on: September 8, 2009 – 5:03 am in Defensive Stocks, International Markets, , ,

4th of July Gift: Oshkosh Wins At Expense of Others (OSK, NAV, FRPT, GD)

Uncle Sam PicOshkosh Corp. (NYSE: OSK) shares are rising strongly today while most of its peers are falling, after the company won a massive government contract that market participants are seeing as the sole prize in a billion-dollar sweepstakes.  The ATV vehicle win came at the expense of Navistar International Corp. (NYSE: NAV), which has a joint venture between small-cap Force Protection Inc. (Nasdaq: FRPT) and General Dynamics Corp. (NYSE: GD).  Despite the major share price erosion seen today in the losers, there might still be an outside chance that Oshkosh is not the sole winner.
Read More »

Posted on: July 1, 2009 – 11:23 am in Defense, , , ,

Axsys Buyout Looks On The Cheap (AXYS, GD)

Money Stack ImageBurning Money PicGeneral Dynamics (NYSE: GD) entered into a definitive agreement to acquire Axsys Technologies, Inc. (NASDAQ: AXYS) in a deal that is at a high premium if you consider the recent rally.  But this merger price is a rather low premium to recent trading, and it is a very unexciting premium if you compare the price to yesterday’s $50.00 close.  The $54.00 per share offer comes to roughly $643 million for a ‘whopping’ 8% premium, and the transaction has  been approved by the boards of directors of both companies.  We have several reasons to believe that this merger may need to command a higher price premium despite what the companies have agreed to.
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Posted on: June 4, 2009 – 11:00 am in Defense, Mergers and Buy Outs, Rumors, Trading Alert, ,

Top Analyst Upgrades (AGN, CHU, ENDP, FLR, GD, LMT, MDZ, NETL, NUVA, SGR)

These are the top pre-market analyst upgrades and positive research calls we have seen from Wall Street this Tuesday morning:

Allergan (AGN) Raised to Overweight at Thomas Weisel.
China Unicom (CHU) Raised to Buy at UBS.
Endo Pharmaceuticals (ENDP) Started as Overweight at Thomas Weisel.
Fluor (FLR) Started as Outperform at Baird.
General Dynamics (GD) Started as Outperform at Morgan Keegan.
Lockheed Martin (LMT) Started as Outperform at Morgan Keegan.
MDS Inc. (MDZ) Raised to Buy at Jefferies.
NetLogic (NETL) Raised to Buy at Piper Jaffray.
Nuvasive (NUVA) Raised to Buy at Needham.
Shaw Group (SGR) Started as Outperform at Baird.

JON C. OGG

Posted on: June 2, 2009 – 6:36 am in Analyst Calls, , , , , , , , , ,

Top Pre-Market Analyst Downgrades (ASTE, ECLP, GD, MMC, RSH, TKC)

burning-money-pic20These are the top pre-market analyst downgrades and cautious analyst research calls we have seen from Wall Street this Wednesday morning with more than two hours until the market opens:

  • Astec Industries (ASTE) Cut to Sell at Piper Jaffray.
  • Eclipsys (ECLP) Cut to Hold at Deutsche Bank.
  • General Dynamics (GD) Started as Hold at Collins Stewart.
  • Marsh & McdLennan (MMC) Cut to Underperform at FBR.
  • Radioshack (RSH) Cut to Underweight at Keybanc.
  • Turkcell (TKC) Cut to Neutral at Goldman Sachs.

Jon C. Ogg
February 25, 2009

Posted on: February 25, 2009 – 7:44 am in Analyst Calls, , , , , ,

Top Pre-Market Analyst Downgrades (ALU, BRLI, GPS, GD, PCK, PSO, PAS, PTR, PKX, RTP, COL, WXS)

Burning_money_picThe rate of downgrades versus upgrades is still coming out with a much more negative bias from Wall Street.  These are some of the downgrades and negative research calls we have seen from Wall Street analysts this Friday morning:

  • Alcatel-Lucent (NYSE: ALU) Cut to Equal Weight at Morgan Stanley.
  • Bio-Reference Labs (NASDAQ: BRLI) Cut to Perform at Oppenheimer.
  • Gap Inc. (NYSE: GPS) Cut to Hold at Citigroup.
  • General Dynamics (NYSE: GD) Cut to Neutral at Goldman Sachs.
  • Patriot Coal (NYSE: PCX) Started as Sell at Citigroup.
  • Pearson (NYSE: PSO) Cut to Sell at Goldman Sachs.
  • PepsiAmericas (PAS) Cut to Sell at Goldman Sachs.
  • PetroChina (NYSE: PTR) Cut to Neutral at JPMorgan.
  • Posco (NYSE: PKX) Cut to Neutral at Goldman Sachs.
  • Rio Tinto (NYSE: RTP) Cut to Hold at Deutsche Bank.
  • Rockwell Collins (NYSE: COL) Cut to Sell at Goldman Sachs.
  • Wright Express Corp. (NYSE: WXS) Cut to Neutral at JPMorgan.

Jon C. Ogg
January 9, 2009

Posted on: January 9, 2009 – 7:17 am in Analyst Calls, , , , , , , , , , , ,

Ten Things To Do To Save Yourself In a Market Meltdown (AAPL)(GOOG)(SIRI)(MCD)(INTC)

AngrybearJim Cramer wants people to sell all of their stocks. Even though the market may keep falling, that might not be a practical solution for everyone. There are several things investors can do to at least partially save themselves from a falling market and get in position if stocks move up again.

1. Sell your dogs. No matter how much an investor loves a stock, firms in the second or third tier of their industries are going to get hurt more. They will get hit by both a falling market and a recession. Some good examples are AMD (AMD), which runs a distant second to Intel (INTC). Yahoo! (YHOO), which is well behind Google (GOOG) in search is another company which will find the going especially tough. Palm (PALM) runs behind Apple (AAPL) and RIM (RIMM) in the smart phone industry. In an awful market, being in second place means being in last place.

Read More »

Posted on: October 8, 2008 – 10:14 am in Defensive Stocks, , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Brokerage Firms Again Downgrading Each Other (C, GD, GS, JEF, KBW, LEH, MS, NCC, SGR)

These are some of the top analyst downgrades or negative calls we are seeing this morning, and you’ll notice that brokerage firm stocks are again the targets of many downgrades:

  • Citigroup (C) Cut To Underperform From Neutral at Merrill Lynch.
  • General Dynamics (GD) Cut to Neutral at JPMorgan.
  • Goldman Sachs (GS) Cut to Underperform from Buy at Merrill Lynch.
  • Jefferies (JEF) Cut to Sell at B of A.
  • Keefe Bruyette & Woods (KBW) Cut to Sell at B of A.
  • Lehman (LEH) Cut to Underperform from Hold at Merrill Lynch.
  • LSI Industries (LYTS) Cut to Underperform at Baird.
  • McDermott (MDR) Cut to Hold at Citigroup.
  • Morgan Stanley (MS) Cut to Neutral from Buy at Merrill Lynch.
  • National City (NCC) Cut to Neutral from Buy at Ladenburg Thalmann.
  • Shaw Group (SGR) Cut to Sell at Citigroup.

Obviously there are a few calls thrown in here that aren’t brokerage firms or investment banking firms, but the brokers are back to killing each other again for the third day this week.

Jon C. Ogg
August 14, 2008

Posted on: August 14, 2008 – 6:31 am in Analyst Calls, Brokerage Firms, , , , , , , , ,

War & Defense Earnings Galore (LMT, BA, GD, LLL, RTN, COL, CRDN)

This week is going to be the key earnings reporting week for companies tied to aerospace and defense sector stocks.  If there is one area that everyone is expecting to hold up, it is this one.  The recessionary climate has only just started and this one is supposed to be immune in the current environment.  Keep in mind that some of these companies have diversified away from being a pure war and defense sector, but these are still defense companies. 

On Tuesday we’ll get to see earnings out of Lockheed Martin Corporation (NYSE: LMT), and on Wednesday we’ll see results from Boeing Co. (NYSE: BA) and General Dynamics Corp. (NYSE: GD). Then on Thursday, we’ll see results from L-3 Communications Holdings Inc. (NYSE: LLL), Raytheon Co. (NYSE: RTN), and also from Rockwell Collins Inc. (NYSE: COL).  Ceradyne Inc. (NASDAQ: CRDN) is on the docket for Friday. 

The full previews can be seen as follows:

Read More »

Posted on: April 21, 2008 – 12:56 pm in Defense, Earnings, , , , , , ,

Pre-Market Stock News (January 23, 2008)

We are full fledged into earnings season now, so most news coverage will point to the current earnings environment and guidance.  There are of course drug developments and other contracts awards.  Below is a snapshot of some of the key data we saw affecting shares in pre-market trading:

  • Abbott Laboratories (ABT) $0.93 EPS versus $0.92 estimate; sees Q1 EPS $0.61 to $0.63 versus $0.65 estimates and sees 2008 EPS $3.20 to $3.25 versus $3.22 estimate.
  • Advanced Energy Industries Inc. (NASDAQ: AEIS) traded down over 10% after after it lowered guidance.
  • Air Products (APD) $1.16 EPS vs $1.13 estimates. 
  • Apple Inc. (AAPL) trading down 10% after it posted $1.76 EPS on $9.6 Billion revenues; Estimates were $1.62 EPS on revenues of $9.47 Billion; Guidance for next quarter is $0.94 EPS and revenues $6.8 Billion versus estimates of $1.09 EPS on $6.98 Billion in revenues.
  • Baidu.com (BIDU) announces the formal launch of its Japanese language search engine run by its Japanese subsidiary.
  • CheckPoint Software (CHKP) trading up almost 5% after $0.46 EPS versus $0.45 est.; Revenues $206.7M vs. $202.3M est.;
  • CNH Global (CNH) $0.50 EPS versus $0.60 estimate.
  • Coach (COH) $0.69 EPS vs $0.68 estimate; noted weak mall traffic and decline in average transaction size.
  • EntreMed (ENMD) is starting its Phase II study with its MKC-1 cell cycle inhibitor in ovarian cancer and advanced endometrial cancer.
  • Ethan Allen (ETH) posted $0.70 EPS versus $0.68 estimate.
  • Foster Wheeler (FWLT) trades ex-split to reflect a 2 for 1 stock split.
  • General Dynamics (GD) $1.42 EPS vs. $1.41 estimate; sees 2008 EPS $5.55 to $5.65 versus $5.73 estimate.
  • HOKU Scientific Inc. (HOKU) traded down 10% after earnings beat but guidance was deemed light.
  • INX (INXI) awarded Department of Defense contract to provide up to $21 million in support  of a Cisco Systems network pact.
  • Martek Biosciences (MATK) noted a December publication showed its DHA may help in late-onset Alzheimer’s, although NIH study results will be in 2010.
  • Parametric (PMTC) $0.26 EPS vs. $0.23 estimate; sees next quarter $0.24 to $0.28 vs. $0.26 estimate; sees 2008 EPS $1.17 to $1.27 vs. $1.16 estimate (revenue in-line).
  • Praxair (PX) $0.98 EPS vs $0.97 estimate.
  • Qualcomm (QCOM) expanded relationship with Motorola for chipsets into certain UMTS 3G handsets in 2008 and 2009.
  • RLI Corp. (RLI) $1.22 EPS versus $1.05 estimate.
  • Rockwell Automation (ROK) $1.04 EPS vs. $1.01 estimates; guides 200 EPS $4.25 to $4.45 versus $4.38 estimate.
  • Southwest Airlines (LUV) $0.12 EPS vs. $0.10 estimate ; reigned in 2008 growth plans to 4%-5% capacity.
  • Texas Instruments Inc. (TXN) has posted earnings of $0.54 EPS and revenues of $3.56 Billion; analysts pegged at $0.52 EPS on $3.58 Billion in revenues; sees Next quarter $0.43 to $0.49 EPS on revenues of $3.27 to $3.55 Billion versus estimates of $0.45 EPS on $3.41 Billion in revenues.
  • TJX Companies (TJX) was Jim Cramer’s retail pick on CNBC’s MAD MONEY last night.
  • United Tech (UTX) $1.08 EPS vs. $1.06 estimate; sees 2008 $4.65 to $4.85 versus $4.85 estimate.
  • Vertex Pharmaceuticals (VRTX) will begin Phase III evaluation of telaprevir for its lead investigational hepatitis C protease inhibitor.
  • WellPoint (WLP) $1.51 EPS versus $1.51 estimate.
  • Werner Enterprises (WERN) $0.28 EPS vs. $0.28 estimate.

Jon C. Ogg
January 23, 2008

Posted on: January 23, 2008 – 7:58 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , , , , , , , ,

Cramer’s War & Defense Stock Pick (LMT, GD, LLL, NOC, LMT)

On tonight’s MAD MONEY on CNBC, Jim Cramer was visiting the USC Campus in Los Angeles and he said Northrup Grumman (NYSE:NOC) is a defense stock that is a growth stock that was sold off without the right reasons.  The analysts are almost all HOLD rated on this even though they like the sector.  13% growth and a 14 P/E ratio is better than good for Cramer.  Cramer likes all the other defense stocks, but he thinks Northrup is so darn cheap that it has to go higher.  This also traded higher today, along with Raytheon (NYSE:RTN).  He thinks it has been trading like a homebuilder or a lender.  He thinks it is very undervalued with the potential for accelerated growth.

Cramer did say he likes L-3 (NYSE:LLL), General Dynamics (NYSE:GD), Lockheed Martin (NYSE:LMT) and other defense sectors.  But "NOC" is his pick and he said "it’s so cheap, it has to go higher."

Jon C. Ogg
September 7, 2007

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

Posted on: September 7, 2007 – 5:15 pm in Defense, , , , ,

IPO Filing: Gulfstream International Group

This morning there was a bit of excitement, followed by a let-down, when looking through SEC Filings. Gulfstream International Group, Inc. has filed to come public via an IPO and will trade under the American Stock Exchange ticker "GIA".  It has listed Taglich Brothers as the sole underwriter, and has only listed 1.15 million shares at a maximum indicated price of $13.00 per unit ($11.00 to $13.00 range).

Before you get too excited thinking that this is "Gulfstream Jet," unfortunately it is not.  That is owned by General Dynamics (GD-NYSE), and that is NOT THIS Gulfstream.  Pitty, because that would have been a great spin-off or at least generated a lot of coverage.  This Gulfstream operates two subsidiaries: Gulfstream International Airlines, Inc. and Gulfstream Training Academy, Inc.

Gulfstream is a Fort Lauderdale, Florida-based commercial airline operating more than 200 flights per day with eleven destinations in Florida, ten destinations in the Bahamas, charter flights within its destination zone, and offers some charter flights to Cuba.  Its fleet consists of 27 Beechcraft 19-seat, turbo-prop aircraft and eight Embraer 30-seat, turbo-prop aircraft.  It has a principal code share and alliance agreement with Continental Airlines and is also party to code share agreements with United Airlines, Northwest Airlines and Copa Airlines of Panama.

Jon C. Ogg
July 6, 2007

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

Posted on: July 6, 2007 – 7:44 am in Airlines, IPOs, ,

Pre-Market Analyst Calls (June 7, 2007)

ASML raised to Outperform at Bernstein.
CENT cut to Neutral at B of A.
COBZ raised to Outperform at KBW.
DCP raised to Outperform at CIBC.
DGX raised to Buy at UBS.
ECL raised to Buy at Jefferies.
FNM raised to Outperform at FBR.
GD raised to Overweight at Lehman.
HC raised to Overweight at JPMorgan.
IFX raised to Mkt Perform at Bernstein.
IO started as Buy at Jefferies.
KBR started as Outperform at Credit Suisse.
MHS raised to Buy at UBS.
MKC raised to Outperform at Bear Stearns.
OPTM started as Sector Perform at CIBC.
OREX started as Overweight at JPMorgan.
PDLI cut to Mkt Perform at Wachovia.
PG cut to Equal Weight at Lehman.
RDWR raised to Outperform at CIBC.
VOLV cut to Underweight at JPMorgan.
VRUS started as Outperform at JMP Securities.

Jon C. Ogg
June 7, 2007

Posted on: June 7, 2007 – 6:41 am in Analyst Calls, , , , , , , , , , , , , , , , , , , , ,