24/7 Wall St. » GIS

Media Digest (4/30/2012) Reuters, WSJ, NYT, FT, Bloomberg

247wallst — Mon, 30 Apr 2012 10:34:17 +0000

Philp Falcone receives extensions from creditors owed money by his high-speed wireless company LightSquared. (Reuters)

Social gifting is a growing part of e-commerce. (Reuters)

Barron’s says Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOG) could join the DJIA. (Reuters)

Spain’s gross domestic product drops 0.3% from the last quarter of 2011 to the first of 2012, meaning the economy is in recession. (WSJ)

Slow earnings may hurt the U.S. rally. (WSJ)

The Wall Street Journal highlights ten women who may soon become CEOs of major companies, including Charlene Begley of General Electric (NYSE: GE), Rosalind Brewer of Walmart (NYSE: WMT), Juliana Chugg of General Mills (NYSE: GIS), Virginia “Gina” Drosos of Procter & Gamble (NYSE: PG), Jan Fields of McDonald’s (NYSE: MCD) and Michelle Gass of Starbucks (NASDAQ: SBUX). (WSJ)

Philip Falcone agrees to step down as the most visible person at LightSquared. (WSJ)

China’s new economy starts to help outside consumer companies and hurt manufacturers. (WSJ)

Amazon.com (NASDAQ: AMZN) will begin to pay sales taxes in Texas and will keep workers there as a result. (WSJ)

Boeing (NYSE: BA) completes the first stage at its South Carolina plant after a period of labor disputes. (WSJ)

The EU battle over bank capital levels continues. (WSJ)

China’s huge purchases of cotton have kept its price high. (WSJ)

Scandals at News Corp. (NYSE: NWSA) may hurt its expansion over the years. (NYT)

Walmart’s U.S. expansion will be hurt by the Mexico bribery probe. (NYT)

PepsiCo (NYSE: PEP) to announce an exclusive deal to supply all nonalcoholic beverages in IHOP and Applebee’s. (NYT)

Spain may set up a series of “bad banks” in an attempt to cordon off the industry’s problems. (FT)

Soy prices begin a new round of food inflation. (FT)

More financial firms face shareholder votes on executive pay. (FT)

Efforts among EU officials to move from austerity to stimulus hets up. (Bloomberg)

A number of analysts expect the S&P 500 to reach a record this year. (Bloomberg)

Douglas A. McIntyre

Filed under: Press Digest Tagged: AAPL, AMZN, BA, GE, GIS, GOOG, MCD, NWSA, PEP, PG, SBUX, WMT

24/7 Wall St. Closing Bell (HD, LNKD, MU, RGLD, BX, ORCL, GIS, KKD, SAI, DQ, FRED, BHI, LOOK, SEED, GMCR, YGE)

Paul Ausick — Wed, 21 Mar 2012 20:07:01 +0000

Markets opened slightly higher this morning, expecting good news from today’s report on existing home sales. Alas, the number came in lower than expectations and sent the DJIA to a daily low that it still hasn’t recovered from. The report itself wasn’t bad (our coverage here). The US dollar index rose fractionally today, now up 0.08% at 79.656. With some major exceptions, commodities fell on the dollar strength. The US EIA weekly petroleum report showed a drawdown of 1.2 million barrels in US inventories, sending crude prices higher (our coverage here). WTI crude oil closed up 0.9% at $106.96/barrel, and Brent crude trades up 0.06% at $124.19/barrel. Gold settled up 0.2% today, at $1,650.30/ounce.

The unofficial closing bells put the DJIA down nearly 46 points to 13,124.62 (-0.35%), the NASDAQ rose more than 1 point (XXX%) to 3,075.32, and the S&P 500 fell -0.19% or nearly 3 points to 1,402.90.

There were several analyst upgrades and downgrades today, including Home Depot Inc. (NYSE: HD) reiterated ‘outperform’ and target price raised to $55 at Credit Suisse; LinkedIn Corp. (NYSE: LNKD) raised to ‘buy’ at Goldman Sachs; Micron Technology Inc. (NASDAQ: MU) started as ‘outperform’ at RBC; Royal Gold Inc. (NASDAQ: RGLD) raised to ‘outperform’ at National Bank; and Blackrock Inc. (NYSE: BX) cut to ‘equal weight’ 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: Oracle Corp. (NASDAQ: ORCL) is down -2.2% at $29.45 (more coverage here and here); General Mills Inc. (NYSE: GIS) is down -0.4% at $38.59; Krispy Kreme Doughnuts Inc. (NYSE: KKD) is down -7.2% at $7.88 (more coverage here); SAIC Inc. (NYSE: SAI) is up 3.8% at $13.65; Daquo New Energy Corp. (NYSE: DQ) is down -7.5% at $2.58; and Fred’s Inc. (NASDAQ: FRED) is up 2.4% at $14.38.

Other standouts from today include the following stocks:

Baker Hughes Inc. (NYSE: BHI) is down 5.9% at $45.02. The oil field services firm cut its profit estimates for the current quarter. More coverage here.

LookSmart Inc. (NASDAQ: LOOK) is down -15% at $1.19 after posting a new 52-week low of $1.10 earlier today. The search network posted awful results today. More coverage here.

Origin Agritech Inc. (NASDAQ: SEED) is up more than 26% at $3.18. The modified seed maker jumped on a report that its GMO corn seed would be approved for use in China. More coverage here.

Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) is up nearly 11% at $56.05. The coffee roaster signed a new deal with Starbucks Corp. (NASDAQ: SBUX). More coverage here.

Yingli Green Energy Holding Company Ltd. (NYSE: YGE) is down -10.3% at $3.83. The solar panel maker did not fare well in the anti-dumping suit brought against Chinese solar makers. More coverage here.

Stay tuned for Thursday. Federal Reserve Chairman Ben Bernanke, Fed Governor Daniel Tarullo, and Chicago Fed President Charles Evans are giving speeches. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – New unemployment benefits claims
10:00 a.m. – Federal Housing Finance Agency house price index
10:30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – Treasury Inflation-Protected Securities (TIPs) auction
4:30 p.m. – Federal Reserve balance sheet and money supply

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: BHI, BX, DQ, FRED, GIS, GMCR, HD, KKD, LNKD, LOOK, MU, ORCL, RGLD, SAI, SEED, YGE

Top Analyst Upgrades & Downgrades (ACI, STD, BAC, BBBY, BIIB, BMRN, CPB, CBOE, EP, GPS, GDI, GIS, HNZ, KMI, KMP, KFT, NFLX, PRA, S)

Administrator — Tue, 14 Feb 2012 13:11:57 +0000

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

Arch Coal Inc. (NYSE: ACI) Cut to Hold at Argus.
Banco Santander (NYSE: STD) Raised to Hold at Societe Generale.
Bank of America Corporation (NYSE: BAC) Cut to Neutral at Citigroup.
Bed Bath & Beyond (NASDAQ: BBBY) Cut to Neutral at Citigroup.
Biogen Idec Inc. (NASDAQ: BIIB) Reiterated Buy but raised target to $140 at Argus; Started as Market Perform at Wells Fargo.
BioMarin Pharmaceutical Inc. (NASDAQ: BRMN) Cut to Underperform as Bear of the Day at Zacks. Campbell Soup Co. (NYSE: CPB) Started as Underweight at Morgan Stanley.
CBOE Holdings, Inc. (NASDAQ: CBOE) Cut to Neutral at Credit Suisse.
El Paso Corporation (NYSE: EP) Started as Hold at Deutsche Bank.
Gap Inc. (NYSE: GPS) Raised to Buy at Citigroup.
Gardner Denver, Inc. (NYSE: GDI) named as Value Stock of the Day at Zacks.
General Mills (NYSE: GIS) Started as Overweight at Morgan Stanley.
H.J. Heinz Company (NYSE: HNZ) Started as Underweight at Morgan Stanley.
Kinder Morgan, Inc. (NYSE: KMI) Raised to Buy at Deutsche Bank.
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) Raised to Buy at Deutsche Bank.
Kraft Foods Inc. (NYSE: KFT) Started as Overweight at Morgan Stanley.
Netflix, Inc. (NASDAQ: NFLX) Reiterated Outperform and raised target to $140 at Credit Suisse.
ProAssurance Corporation (NYSE: PRA) Raised to Outperform as Bull of the Day at Zacks.
Sprint Nextel Corporation (NYSE: S) Reiterated Hold but widened out loss estimates by Argus.

If you enjoyed the top analyst upgrades and downgrades, 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: ACI, BAC, BBBY, BIIB, BMRN, CBOE, CPB, EP, GDI, GIS, GPS, HNZ, KFT, KMI, KMP, NFLX, PRA, S, STD

Ten Cheap Products Making American Companies Billions

247wallst — Mon, 30 Jan 2012 11:53:39 +0000

Just because certain products have a low price tag does not mean they cannot sell for billions of dollars. In fact, some of the cheapest products make the most money for their companies. 24/7 Wall St. identified some of the best-selling consumer goods and food products costing under $5 and the companies that make them. The cheapest and most successful products are sold by companies with the strongest and oldest brands that spend the most on advertising.

Read the Ten Cheap Products Making American Companies Billions

All of the companies that make the most money from selling inexpensive items have exceptionally strong brands. They are highly recognizable and held in high regard. Coca-Cola, which makes billions of dollars off its trademark drink Coke, is the most valuable brand in the world, according to brand valuation company Interbrand. According to Brand Z, McDonald’s, producer of the world’s favorite french fries, is the most valuable brand. Other brands, such as Cheerios, Campbell’s, and Starbucks, are also instantly recognizable.

These products have such strong brands partly because their parent companies spend huge sums of money on advertising. In 2011, Procter & Gamble, maker of Gillette razors, spent $9.3 billion on ads for all products — 11.3% of its total sales. This amount increases substantially each year, reflecting the lengths companies must go to preserve market share. Ian Cook, chief executive of Colgate-Palmolive, recently promised “increased advertising support behind many new and existing Colgate products” in 2012 to protect its global standing. The company said it had increased advertising spending in the fourth quarter to $428 million, up 5% from one year ago.

Additionally, these brands benefit from having been around for years and having existed in the public conscious a very long time. Products such as Coke, Colgate toothpaste, and Dole bananas have been around since the 19th century. Campbell’s soup and Cheerios have been household staples since the middle of the 20th century. Consumers have grown to trust the brands and expect a certain level of quality.

24/7 Wall St. reviewed the 500 largest companies by sales to identify the ones that focus on inexpensive consumer goods and low-priced food products. We then looked at the most inexpensive products sold for less than $5 and hold the highest market share. These are the cheapest products making American companies billions.

Filed under: 24/7 Wall St. Wire, Special Report Tagged: CL, CPB, DOLE, GIS, KFT, KO, MCD, PEP, PG, SBUX

Corn Crop Booms, Prices to Fall (ADM, VLO, HML, TSN, GIS, K)

Paul Ausick — Thu, 22 Dec 2011 16:38:28 +0000

Fears for a supply shortage of corn earlier this year led the world’s farmers to plant more of the crop on expectations of higher prices. Now that the crop is in, it turns out to be a sixth consecutive record crop and will surely push prices down next year. That’s good news for makers of ethanol like Archer Daniels Midland Co. (NYSE: ADM) and Valero Energy Corp. (NYSE: VLO) to meat processors like Hormel Foods Corp. (NYSE: HRL) and Tyson Foods Inc. (NYSE: TSN) to cereal makers General Mills Co. (NYSE: GIS) and Kellogg Co. (NYSE: K).

The US Department of Agriculture is forecasting a global corn crop of 867.5 million metric tons and analysts survey by Bloomberg News are forecasting a price of $4.305/bushel next year. Corn is trading today at about $6.20/bushel.

Demand for meat is driving the demand for corn and wheat as feed for cattle, pigs, and chickens, with total demand for feed expected to reach 640.6 million metric tons in the crop season ending next Spring.

The US share of the booming corn crop will decrease to less than 50% for the first time in 40 years.

Filed under: Agriculture, Commodities Tagged: ADM, GIS, HML, K, TSN, VLO

24/7 Wall St. Closing Bell (T, FFIV, URBN, AMGN, BAX, CAG, GIS, NAV, SAFM, JEF, NKE, ORCL, TRGT, CIE, CSIQ, PBH, HOV, CVS)

Paul Ausick — Tue, 20 Dec 2011 21:06:30 +0000

US equity markets opened sharply higher this morning and have been able to sustain and even add to those gains throughout the day. Business and consumer confidence indexes in Europe were higher, giving an early boost to share prices. Then an unexpectedly large jump in new housing starts, especially multi-family dwellings, put an extra charge into investors. Proposed Federal Reserve rules governing big banks have had little impact on financial stocks, which are up about 4% in the late afternoon. Today’s auction of five-year Treasury went out at 0.880%, a record low yield. Crude oil is also sharply higher today, with WTI trading at $97.22/barrel, up more than 3.5%, and Brent is up 3.34% at $106.98. The US dollar has traded weaker all day today. Gold settled on the Comex up about 1.3%, at $1,616.80.

The unofficial closing bells put the DJIA up nearly 336 points to 12,101.92 (2.85%), the NASDAQ rose more than 80 points (3.19%) to 2,603.73, and the S&P 500 rose 2.98% or nearly 36 points to 1,241.22.

There were several analyst upgrades and downgrades today, including AT&T Inc. (NYSE: T) cut to ‘neutral’ at JPMorgan. Other ratings actions today include F5 Networks Inc. (NASDAQ: FFIV) cut from ‘perform’ to ‘underperform’ at Oppenheimer; Urban Outfitters Inc. (NASDAQ: URBN) raised from ‘outperform’ to ‘Top Pick’ at FBR Capital; Amgen Inc. (NASDAQ: AMGN) added to ‘Strong Buy List’ at Zacks; and Baxter International Inc. (NYSE: BAX) lowered from ‘Top Pick List’ to ‘outperform’ and target price lowered from $61 to $58 at RBC Capital Markets.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: ConAgra Foods Inc. (NYSE: CAG) is up 4% at $26.18; General Mills Inc. is down about -1% at $39.19; Navistar International Corp. (NYSE: NAV) is up nearly 7% at $39.05; Sanderson Farms Inc. (NASDAQ: SAFM) is down -4% at $48.66; and Jefferies Group Inc. (NYSE: JEF) is up more than 22% at $14.46. After markets close today we get earnings from Nike Inc. (NYSE: NKE) and Oracle Corp. (NASDAQ: ORCL). See our 360 coverage on Oracle here and coverage of the ConAgra and General Mills reports here.

Other standouts from today include the following stocks:

Targacept Inc. (NASDAQ: TRGT) is down more than -35% at $5.01, after posting a new 52-week low of $4.92 earlier in the day. The pharmaceutical maker’s anti-depressant drug, developed in conjunction with AstraZeneca plc (NYSE: AZN) has failed a late-stage trial.

Cobalt International Energy Inc. (NYSE: CIE) is up nearly 38% at $13.81. The oil & gas exploration company has signed a production-sharing agreement for a block offshore of Angola. Cobalt owns 40% of the project and is the operator.

Canadian Solar Inc. (NASDAQ: CSIQ) is up nearly 33% at $2.93. The solar panel maker has sold about 86 megawatts of generation to TransCanada Corp. (NYSE: TRP) for approximately $455 million.

Prestige Brand Holdings Inc. (NYSE: PBH) is up nearly 21% at $11.27. The drug and cleaning supplies company paid $660 million for a selection of nonprescription drugs from GlaxoSmithKline PLC (NYSE: GSK).

Hovnanian Enterprises Inc. (NYSE: HOV) is up more than 18% at $1.50. The home builder is riding the wave of good news about new housing starts.

CVS Caremark Corp. (NYSE: CVS) is up about 9% at $39.85, after posting a new 52-week high earlier of $39.86. The healthcare company raised fiscal year guidance and boosted its quarterly dividend by 30%, to $0.1625/share.

Stay tuned for Wednesday. The most widely anticipated report for tomorrow is due at 8:30 a.m. from the National Association of Realtors, which will be revising its new home sales data from 2007 forward. Lower sales of up to -13% are expected. Here are other noteworthy events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 7-year Treasury note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMGN, BAX, CAG, CIE, CSIQ, CVS, FFIV, GIS, HOV, JEF, NAV, NKE, ORCL, PBH, SAFM, T, TRGT, URBN

ConAgra, General Mills Look Ahead to 2012… Quite Differently (CAG, GIS, KFT, HNZ, K)

Paul Ausick — Tue, 20 Dec 2011 18:56:23 +0000

Food producers have been battling rising commodity costs, higher fuel costs, and higher packaging costs by raising their prices. That appears to be working decently for ConAgra Foods Inc. (NYSE: CAG) and not so well for General Mills Inc. (NYSE: GIS), both of which reported second fiscal quarter earnings this morning. Kraft Foods Inc. (NYSE: KFT, H.J. Heinz Co. (NYSE: HNZ), and Kellogg Co. (NYSE: K) have all fought the same battle with mixed success.

ConAgra reported reported adjusted EPS of $0.47, compared with a consensus estimate of $0.43. Revenue came in at $3.4 billion, compared with an estimate of $3.34 billion. In the same period a year ago, ConAgra posted EPS of $0.46 on $3.15 billion in revenue.

General Mills reported adjusted EPS of $0.76, below estimates of $0.79. Revenue beat expectations of $4.6 billion, coming in at $4.62 billion. A year ago, General Mills posted adjusted EPS of $0.92 on revenue of $4.1 billion.

ConAgra expects EPS growth in the low- to mid-single digit range for the 2012 fiscal year. The current consensus EPS estimate is $1.80 for the full year ending in May, compared with EPS of $1.75 last year. ConAgra, which failed in a hostile takeover attempt on Ralcorp Holdings Inc. (NYSE: RAH), has been making small acquisitions to boost its revenues.

General Mills forecasts full-year EPS of $2.59-$2.61, while the consensus estimate is $2.61, up from $2.48 last year. The company is looking to its recently acquired controlling stake in yogurt maker Yoplait to help boost earnings.

In the early afternoon today, ConAgra shares are up more than 3.5% at $26.10, after posting a new 52-week high this earlier of $26.38. Trading volume is heavy, with 4.8 million already having trading hands today, compared with a daily average of 4 million.

General Mills shares are down about -1.5% at $39.00 in a 52-week range of $34.54-$40.72. Volume is also heavy in the shares, with more than 5 million traded so far today compared with a daily average of about 4.6 million.

Paul Ausick

Filed under: Earnings, Food, HI/LOW Tagged: CAG, GIS, HNZ, K, KFT

Food Processing Stocks With Most Upside (ADM, BG, TSN, SFD, CPO, CAG, KFT, SLE, GIS, K)

Paul Ausick — Thu, 03 Nov 2011 19:01:24 +0000

The companies we’re looking at today run the gamut from large farm and food products producers to the packaged goods makers that make the products on store shelves. It’s a wide range, for sure, but all are exposed to both commodity prices on one end and on consumer purchasing on the other.

Large farm products companies like Archer Daniels Midland Co. (NYSE: ADM) and Bunge Ltd. (NYSE: BG) have watch corn and wheat prices decline by about -20% and -29% since peaks earlier this year. Fertilizer prices have risen and so have fuel prices. All have an impact on revenues and earnings.

Processing companies like Tyson Foods Inc. (NYSE: TSN), Smithfield Foods, Inc. (NYSE: SFD), Corn Products International Inc. (NYSE: CPO), and ConAgra Foods, Inc. (NYSE: CAG) package private label foods, provide commercial food, and even offer some branded products. The diversity of their customers gives them a bit of a barrier against a collapse in one or another of their markets.

Packaged food giants like Kraft Inc. (NYSE: KFT), Sara Lee Corp. (NYSE: SLE), General Mills, Inc. (NYSE: GIS), and Kellogg Company (NYSE: K) are all household names and depend on strong brands to carry them through slow economic times.

Data from Yahoo! Finance, and current share prices gathered about noon today.

Archer Daniels Midland Co. (NYSE: ADM) has a median target price of $35.00 from 13 brokers. Shares are trading today at $28.88, for an implied gain of $6.12, or 21%. ADM’s forward P/E is 8.52 and the company pays a dividend yield of 2.3%. The stock’s 52-week trading range is $23.69-$38.02, and at today’s price that’s about 22% above its 52-week low and 24% below the 52-week high. This year’s wheat harvest looks to be on a near-record pace, and wheat prices are expected to fall to below $6/bushel by the end of the year from a current price of around $6.36.

Rising corn prices hit ADM hard in its most recent quarter, lowering profit in its biofuel (ethanol) division by -23% and in its sweetener and starches division by -81%. Corn prices are currently expected to remain about the same into next year, which won’t help ADM’s processing revenue. Fortunately for the company its trading profits will get a boost from the higher corn prices.

Bunge Ltd. (NYSE: BG) has a median target price of $74.00 from 11 brokers. Shares are trading today at $61.38, for an implied gain of $12.62, or 21%. Bunge’s forward P/E is 9.32 and the company pays a dividend yield of 1.6%. The stock’s 52-week trading range is $54.03-$76.13, and at today’s price that’s about 14% above its 52-week low and 19% below the 52-week high.

Bunge missed EPS estimates badly in its third quarter as the company ran afoul of volatility in the grain markets. The company painted a brighter picture for its fourth quarter, basing its view on the tightness of supply and the rising demand for food.

Tyson Foods Inc. (NYSE: TSN) has a median target price of $23.00 from 15 brokers. Shares are trading today at $19.27, for an implied gain of $3.73, or 19%. Tyson’s forward P/E is 9.53 and the company pays a dividend yield of 0.8%. The stock’s 52-week trading range is $14.79-$20.12, and at today’s price that’s about 30% above its 52-week low and 4% below the 52-week high.

Tyson will report earnings for its fourth fiscal quarter on November 21st. The consensus EPS estimate is $0.32, half as much as the same period a year ago. Rising feed costs have hammered revenues and earnings this year, and Tyson and other chicken producers are trying to get its customers to share commodity price risk by taking shorter term contracts tied to the cost of feed grains.

Filed under: Agriculture, Analyst Calls, Consumer Goods, Food Tagged: ADM, BG, CAG, CPO, GIS, K, KFT, SFD, SLE, TSN

Top Analyst Upgrades & Downgrades (ARMH, CFN, COP, EIX, GIS, GS, PDLI, SAP, SFD, S, SYK, TEF, TI, TSN, VLO)

Administrator — Tue, 11 Oct 2011 12:14:04 +0000

These are some of this Tuesday’s top analyst upgrades, downgrades, and initiations seen having an impact from Wall Street research calls.

ARM Holdings plc (NASDAQ: ARMH) Raised to Buy at Citigroup.
CareFusion Corporation (NYSE: CFN) Raised to Buy at BofA/ML.
ConocoPhillips (NYSE: COP) Cut to Underperform at Macquarie.
Edison International (NYSE: EIX) Added to US Focus List at Credit Suisse.
General Mills, Inc. (NYSE: GIS) Added to Conviction Buy List at Goldman Sachs.
Goldman Sachs Group Inc. (NYSE: GS) estimates cut to expect a loss by Citigroup.
PDL BioPharma, Inc. (NASDAQ: PDLI) Cut to Sector Perform at RBC.
SAP AG (NYSE: SAP) Started as Buy at Citigroup.
Smithfield Foods Inc. (NYSE: SFD) Raised to Buy at BofA/ML.
Sprint Nextel Corporation (NYSE: S) Cut to Hold at Argus; Removed from U.S. Focus List at Credit Suisse.
Stryker Corporation (NYSE: SYK) Raised to Buy at BofA/ML.
Telefonica, S.A. (NYSE: TEF) Cut to Neutral at Goldman Sachs.
Telecom Italia SpA (NYSE: TI) Cut to Sell at Goldman Sachs.
Tyson Foods Inc. (NYSE: TSN) Raised to Buy at BofA/ML.
Valero Energy Corporation (NYSE: VLO) Raised to Overweight at Barclays.

JON C. OGG

Filed under: Analyst Calls Tagged: ARMH, CFN, COP, EIX, GIS, GS, PDLI, S, SAP, SFD, SYK, TEF, TI, TSN, VLO

Media Digest (10/11/2011) Reuters, WSJ, NYTimes, FT, Bloomberg

247wallst — Tue, 11 Oct 2011 10:17:37 +0000

CEOs from General Electric (NYSE: GE), Intel (NASDAQ: INTC), Boeing (NYSE: BA) and other companies tell Obama in their President’s Council on Jobs and Competitiveness report that he must get more foreign investment into the U.S., build infrastructure and help small businesses if he wants to create jobs. (Reuters)

The tough economy could cause a wave of new Chapter 11 filings by large companies like Eastman Kodak (NYSE: EK) and AMR (NYSE: AMR). (Reuters)

New York state’s comptroller Thomas DiNapoli says Wall St. could shed 10,000 jobs if the financial sector remains troubled. (Reuters)

Netflix (NASDAQ: NFLX) to recombine its DVD and streaming video businesses. (Reuters)

The euro gains on optimism that the region will improve its fortunes through new bailout plans. (Reuters)

Facebook releases an application for the Apple (NASDAQ: AAPL) iPad. (Reuters)

Brent crude moves above $109 on optimism about the economy. (Reuters)

Research In Motion (NASDAQ: RIMM) restores service in some nations where it has tech problems. (Reuters)

China buys shares in its troubled banks. (WSJ)

Samson Investment, an oil and gas firm, may sell itself for $10 billion. (WSJ)

Grocery stores allow customers to use smartphones to shop based on price. (WSJ)

General Mills (NYSE: GIS) tries to reduce sugar in cereal, only to find that children want it. (WSJ)

Sprint-Nextel (NYSE: S) will have to pay high rates to raise money. (WSJ)

Tata Coffee and Starbucks (NASDAQ: SBUX) to open stores in India. (WSJ)

Airlines rapidly adding WiFi to airplanes. (WSJ)

Longacre Fund Management to close many of its funds due to poor returns. (WSJ)

The Volcker rule, set to limit bank risk, will be made public soon. (NYT)

The EU delays a debt crisis meeting in which details are worked out. (NYT)

The ISS advisory group says investors should vote against 13 of the 15 members of the board of News Corp. (NYSE: NWS). (FT)

Some EU nations still want private investors to take larger write-downs on Greek debt. (Bloomberg)

Douglas A. McIntyre

Filed under: Press Digest Tagged: AAPL, AMR, BA, EK, GE, GIS, INTC, NFLX, NWS, RIMM, S, SBUX