24/7 Wall St. » gold

Top Wall Street Analyst Downgrades Include Apple, Amgen, Banks

Jon C. Ogg — Wed, 24 Apr 2013 12:25:35 +0000

Investors frequently get to see the analyst upgrades and Buy ratings from Wall St. firms. They often do not get to see or they overlook the analyst downgrades and lists of stocks to sell or to avoid. We review many fresh research calls each and every day to find great ideas from value stocks to growth stocks to dividend stocks, and we have broken out the negative analyst calls today.

These are this Wednesday’s top analyst downgrades and cautious research notes from Wall St.

Amgen Inc. (NASDAQ: AMGN) was downgraded to Neutral from Overweight at Piper Jaffray after sales were light.

Apple Inc. (NASDAQ: AAPL) was downgraded to Market Perform from Outperform with a $435 upside price target at BMO Capital Markets after the earnings, dividend and buyback news. Other forms have lowered their price targets and will be updated later. We also pointed out this morning that Apple’s woes have a ripple effect on other companies.

AT&T Inc. (NYSE: T) was downgraded to Equal Weight at Morgan Stanley and downgraded to Neutral at Citigroup. We also labeled this report as the death of growth.

DeVry Inc. (NYSE: DV) was downgraded to Hold from Buy at Deutsche Bank.

Discover Financial Services (NYSE: DFS) was downgraded to Hold from Buy at Jefferies.

Edwards Lifesciences Corp. (NYSE: EW) had disappointing sales and guidance and shares are indicated down about 15% at a new 52-week low. We have seen so far that Lazard downgraded the drug company to Neutral from Buy and that RBC Capital Markets downgraded it to Sector Perform from Outperform.

Randgold Resources Ltd. (NASDAQ: GOLD) was given the dubious call of the “Bear of the Day” at Zacks Investment Research. The firm rates it a Strong Sell that faced sharp downward revisions of its numbers.

Vocus Inc. (NASDAQ: VOCS) is the leader of the pack on what is now Sell stocks after missing earnings and guiding lower for the coming quarter and full year. Shares are down more than 30%, under $10 to a new 52-week low. Raymond James and FBR Capital Markets both cut the ratings to Market Perform. Stifel Nicolaus cut its rating to Hold.

We want to point out one key report that may put a drag on banking earnings and stocks ahead. Late on Tuesday came a report from Fitch and the gut check shows that the best may have already been seen from the banking stocks in 2013 for J.P. Morgan Chase & Co. (NYSE: JPM) and other major banks.

Filed under: Active Trader, Analyst Calls Tagged: AAPL, AMGN, DFS, DV, EW, gold, JPM, T, VOCS

Wall Street Analysts Defend Gold Miners

Jon C. Ogg — Wed, 17 Apr 2013 12:10:20 +0000

It is no secret that the gold bugs got squashed, but Wall St. analysts are starting to have something different to say. The price of gold broke from a peak of close to $1,800, and now the $1,400-per-ounce mark has been challenged and broken.

To show just how bad the carnage has been, the SPDR Gold Shares (NYSEMKT: GLD) is actually down an unheard of 18% so far in 2013. The miners are even getting hit harder as the Market Vectors Gold Miners ETF (NYSEMKT: GDX) is down a whopping 38% year to date. Many investors want to know what the bottom in the price of gold is and how to buy gold.

While we have seen the analyst calls growing for gold to go to $1,300 or even $1,200, some Wall St. analysts are starting to defend shares of the beaten and taunted gold miners.

AngloGold Ashanti Ltd. (NYSE: AU) was raised to Buy from Hold at Deutsche Bank on Wednesday, and the weakness was cited as a buying opportunity.

Gold Fields Inc. (NYSE: GFI) was raised to Buy from Hold at Deutsche Bank on Wednesday, also cited as a buying opportunity on the weakness. Gold Fields also was raised to Neutral from Sell by Citigroup on Monday, although in all fairness the that call was a negative sector call on both gold and silver.

On Monday we saw that Randgold Resources Ltd. (NASDAQ: GOLD) was initiated with a Buy rating by a firm named Dundee, and BMO Capital Markets also raised its rating to Outperform from Market Perform.

Canaccord Genuity also on Monday began coverage of a company in Canada called Carpathian Gold Inc. (CPN.TO) with a Speculative Buy rating.

Another call in Canada came from BMO Capital Markets, where it started coverage of Mandalay Resources Corp. (MND.TO) was raised to Outperform from Market Perform.

We strongly suggest that investors do some serious homework before trying to catch a falling knife. It can be a painful, dangerous game. Taking any full positions amidst a serious correction also can turn large fortunes into small fortunes.

The trend is still lower in the price of gold. As a technician or chartist would say, “It is in a downtrend until it isn’t.”

Filed under: Active Trader, Analyst Calls, Commodities & Metals, Metals Tagged: AU, featured, GDX, GFI, GLD, gold

24/7 Wall St. Closing Bell — February 15, 2013: Markets Continue to Limp Along (CSCO, GOLD, RIG, KGC, JCP, CBS, GG, AEP, BKW, CPB, SJM, TOWR, CRMT, ESRX, NI, WIN, XOOM, TRLA, END)

Paul Ausick — Fri, 15 Feb 2013 21:05:56 +0000

U.S. equity markets opened slightly higher this morning on better economic news out of Europe and basically good data in the U.S. In Europe, the eurozone trade balance came in better than expected, but U.K. retail sales declined by 0.6% compared an expected rise of 0.4%. Spain’s CPI dropped 1.3% in January, just a bit less than an expected drop of 1.4%. In Asia, the Shanghai exchange remained closed and Japan’s Nikkei got bogged down as the G20 central bankers meet to talk about currency manipulation. In the U.S. the Empire State manufacturing index jumped to a reading of +10, its first positive reading since last July (more coverage here). The consumer sentiment index also came in better than expected.

U.S. markets are closed Monday in observance of the Presidents’ Day holiday.

The U.S. dollar index rose 0.03% today, now at 80.482. The GSCI commodity index is up fractionally at 679.20, with commodities prices mixed again today. WTI crude oil closed down 1.5% today, at $95.86, up about 0.2% for the week. Brent crude trades down 0.4% at $117.50 a barrel. Natural gas is down 0.3% today at about $3.16 per million BTUs. Gold settled down 1.6% today at $1,609.50 an ounce, finishing the week down 3.4%.

The unofficial closing bells put the DJIA up about 6 points to 13,979.61 (0.04%), the NASDAQ fell more than 6 points (-0.21%) to 3,192.03, and the S&P 500 fell -0.10% or less than 2 points to 1,519.79.

There were a several analyst upgrades and downgrades today, including Cisco Systems Inc. (NASDAQ: CSCO) reiterated as ‘buy’ and price target raised to $26 at Argus; Randgold Resources Ltd. (NASDAQ: GOLD) cut to ‘sell’ at Citigroup; Transocean Ltd. (NYSE: RIG) cut to ‘sell’ at Deutsche Bank; Kinross Gold Corp. (NYSE: KGC) raised to ‘outperform’ with a price target of $11.50 at Credit Suisse; and J.C. Penney Co. Inc. (NYSE: JCP) maintained as ‘underperform’ with a price target of $15 at Credit Suisse.

Earnings reports since markets closed last night resulted in several price moves today, including these: CBS Corp. (NYSE: CBS) is up 3.3% at $44.34 after posting a new 52-week high of $45.87 earlier today; Goldcorp Inc. (NYSE: GG) is down 2.5% at $33.80; American Electric Power Co. Inc. (NYSE: AEP) is up 0.4% at $44.96; Burger King Worldwide Inc. (NYSE: BKW) is up 4.1% at $17.26 (more coverage here); Campbell Soup Co. (NYSE: CPB) is up 1.5% at $39.31; J.M. Smucker Co. (NYSE: SJM) is up 0.2% at $92.37 after posting a new 52-week high of $94.99 earlier today; and Tower International Inc. (NYSE: TOWR) is up 13.6% at $11.17.

After markets close today and before they open Tuesday morning we are scheduled to hear from America’s Car-Mart Inc. (NASDAQ: CRMT), Express Scripts Holding Co. (NASDAQ: ESRX), NiSource Inc. (NYSE: NI), and Windstream Corp. (NASDAQ: WIN).

Some standouts from today include the following stocks:

Xoom Corp. (NASDAQ: XOOM) is up 43.2% at $22.91. The international money transfer firm held its IPO today. More coverage here.

Trulia Inc. (NYSE: TRLA) is up 17.6% at $35.88 after posting a new 52-week high of $38.22 earlier today. The Internet real estate site reported solid earnings earlier this week and is getting a big bounce again today, likely based on Zillow Inc.’s (NASDAQ: Z) strong results last night.

Endeavour International Corp. (NYSE: END) is down 13.2% at $3.08 after posting a new 52-week low of $3.06 earlier today. The oil & gas company said yesterday it would explore “strategic alternatives.” More coverage here.

Stay tuned for Tuesday. U.S. markets are closed on Monday. We have noted the following events on Tuesday’s schedule (all times Eastern):

10:00 a.m. – Housing market index
11:30 a.m. – 3- and 6-month Treasury bill auctions

Have a great weekend!

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: AEP, BKW, CBS, CPB, CRMT, CSCO, END, ESRX, featured, GG, gold, JCP, KGC, NI, RIG, SJM, TOWR, TRLA, WIN, XOOM

Top Analyst Upgrades and Downgrades (CTL, CSCO, GRMN, GNRC, GFI, HAIN, HBAN, JCP, KGC, MWW, NTGR, GOLD, RIG, URBN, YNDX)

Jon C. Ogg — Fri, 15 Feb 2013 13:45:15 +0000

These are some of this Friday’s top analyst upgrades, downgrades and initiations seen from Wall St. research calls.

CenturyLink Inc. (NYSE: CTL) cut to Hold from Buy at Argus, and downgraded by multiple analysts yesterday after lowering dividend.

Cisco Systems Inc. (NASDAQ: CSCO) reiterated as Buy and raised target to $26 at Argus.

Garmin Ltd. (NASDAQ: GRMN) started as Outperform at William Blair.

Generac Holdings Inc. (NYSE: GNRC) cut to Sell from Neutral at Goldman Sachs.

Gold Fields Inc. (NYSE: GFI) cut to Neutral from Buy at BofA/Merrill Lynch.

Hain Celestial Group Inc. (NASDAQ: HAIN) reiterated Buy but cut target to $72 from $77 at Argus.

Huntington Bancshares Inc. (NASDAQ: HBAN) cut to Neutral at Citigroup.

J.C. Penney Co. Inc. (NYSE: JCP) maintained Underperform with $15 target at Credit Suisse.

Kinross Gold Corp. (NYSE: KGC) raised to Outperform with $11.50 price target at Credit Suisse.

Monster Worldwide Inc. (NYSE: MWW) cut to Neutral at SunTrust Robinson Humphrey.

Netgear Inc. (NASDAQ: NTGR) raised to Buy with $41 target at Stern Agee.

Randgold Resources Ltd. (NASDAQ: GOLD) cut to Sell from Neutral at Citigroup.

Transocean Ltd. (NYSE: RIG) cut to Sell from Hold at Deutsche Bank.

Urban Outfitters Inc. (NASDAQ: URBN) cut to Market Perform at BMO.

Yandex N.V. (NASDAQ: YNDX) started as Overweight at Barclays.

Credit Suisse is out very positive on four key MLP stocks for investors looking for high dividends and distributions.

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: CSCO, CTL, GFI, GNRC, gold, GRMN, HAIN, HBAN, JCP, KGC, MWW, NTGR, RIG, URBN, YNDX

24/7 Wall St. Closing Bell — February 5, 2013: Markets Recover from Yesterday’s Slump (CLWR, M, SWC, DRI, UNH, CYOU, GCI, HUM, GOLD, RCL, SPG, CLX, APC, BIDU, EW, YUM, AGCO, AGN, ACI, ADM, ARMH, BP, ETN, EL, SIRI, K, CMG, EXPE, GNW, TTWO, DIS, ZNGA, CVS, MRO, NUS, RL, SYT, TWX, DELL, OPXA, MHP)

Paul Ausick — Tue, 05 Feb 2013 21:04:01 +0000

U.S. equity markets opened higher this morning and maintained their upward momentum for essentially the whole day. Lacking any really bad news from Asia or Europe, U.S. markets shrugged off a weaker than expected ISM non-manufacturing PMI number (more coverage here) and focussed instead on a generally upbeat day in European markets. In Asia, China’s PMI came in better than expected and Australia’s central bank left its key interest rate unchanged. In Europe, eurozone non-manufacturing PMI came in slightly better than expected. After yesterday’s worst session of the year so far, today’s trading seems positively sprightly.

The U.S. dollar index fell 0.02% today, now at 79.536. The GSCI commodity index is down 0.8% at 673.87, with commodities prices mixed again today. WTI crude oil closed up 0.5% today, at $96.64 a barrel. Brent crude trades up 0.8% at $116.54 a barrel. Natural gas is up 2.7% today at about $3.40 per million BTUs. Gold settled down 0.2% today at $1,673.50 an ounce.

The unofficial closing bells put the DJIA up more than 98 points to 13,978.53 (0.71%), the NASDAQ rose more than 40 points (1.29%) to 3,171.59, and the S&P 500 rose 1.04% or nearly 16 points to 1,511.26.

There were a several analyst upgrades and downgrades today, including Clearwire Corp. (NASDAQ: CLWR) cut to ‘underperform’ at D.A. Davidson; Macy’s Inc. (NYSE: M) raised to ‘buy’ at Citigroup; Stillwater Mining Co. (NYSE: SWC) raised to ‘overweight’ at J.P. Morgan (more platinum coverage here); D.R. Horton Inc. (NYSE: DRI) raised to ‘overweight’ at Barclays; and UnitedHealth Group Inc. (NYSE: UNH) raised to Conviction Buy List at Goldman Sachs.

Earnings reports since markets closed last night resulted in several price moves today, including these: Anadarko Petroleum Co. (NYSE: APC) is up 3.3% at $83.15; Baidu Inc. (NASDAQ: BIDU) is down 10.4% at $96.06; Edwards Lifesciences Corp. (NYSE: EW) is down 6.7% at $86.79; Yum! Brands Inc. (NYSE: YUM) is down 2.8% at $62.15 (more coverage here); AGCO Corp. (NYSE: AGCO) is up 2.1% at $53.62; Allergan Inc. (NYSE: AGN) is up 1.6% at $106.75; Archer Daniels Midland Co. (NYSE: ADM) is up 3.4% at $29.42 (more coverage here); ARM Holdings plc (NASDAQ: ARMH) is up 4.3% at $43.76 after posting a new 52-week high of $44.00 earlier today (more coverage here); BP plc (NYSE: BP) is up 1.5% at $44.26 (more coverage here); Eaton Corp. (NYSE: ETN) is up 5.1% at $59.45 after posting a new 52-week high of $60.45 earlier today; Estee Lauder Companies Inc. (NYSE: EL) is up 6.1% at $64.79; Sirius XM Radio Inc. (NASDAQ: SIRI) is down 0.5% at $3.15; and Kellogg Inc. (NYSE: K) is up 0.8% at $58.55 after posting a new 52-week high of $59.30 earlier today.

After markets close today and before they open tomorrow morning we are scheduled to hear from Chipotle Mexican Grill Inc. (NYSE: CMG), Expedia Inc. (NASDAQ: EXPE), Genworth Financial Inc. (NYSE: GNW), Take-Two Interactive Software Inc. (NASDAQ: TTWO), Walt Disney Co. (NYSE: DIS), Zynga Inc. (NASDAQ: ZNGA), CVS Caremark Corp. (NYSE: CVS), Marathon Oil Corp. (NYSE: MRO), Nu Skin Enterprises Inc. (NYSE: NUS), Ralph Lauren Corp. (NYSE: RL), Syngenta AG (NYSE: SYT), and Time Warner Inc. (NYSE: TWX).

Some standouts from today include the following stocks:

Dell Inc. (NASDAQ: DELL) is up 1.3% at $13.45. The PC maker has agreed to be taken private in a deal worth more than $24 billion. More coverage here.

Arch Coal Inc. (NYSE: ACI) is down 12.4% at $6.07. The coal miner badly missed estimates this morning and the outlook for the first half of this year is not encouraging. More coverage here.

Opexa Therapeutics Inc. (NASDAQ: OPXA) is up 162.8% at $3.18. The biopharma company has struck a deal with Germany’s Merck related to Opexa’s treatment for multiple sclerosis. More coverage here.

The McGraw-Hill Companies (NYSE: MHP) is down 11.5% at $44.52. The financial information firm continued to get battered today as the U.S. Department of Justice announced charges against its S&P ratings agency for failure properly to let investors know the value of subprime mortgage bonds back in 2008.

Stay tuned for Wednesday. We have also noted the following 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
3:00 p.m. – Treasury STRIPS

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ACI, ADM, AGCO, AGN, APC, ARMH, BIDU, BP, CLWR, CLX, CMG, CVS, CYOU, DELL, DIS, DRI, EL, ETN, EW, EXPE, featured, GCI, GNW, gold, HUM, K, M, MHP, MRO, NUS, OPXA, RCL, RL, SIRI, SPG, SWC, SYT, TTWO, TWX, UNH, YUM, ZNGA

24/7 Wall St. Closing Bell — February 4, 2013: Markets Slump on Europe Mess (YHOO, MRK, GOOG, CVX, BRCM, CYOU, GCI, HUM, GOLD, RCL, SPG, CLX, APC, BIDU, EW, YUM, AGCO, AGN, ACI, ADM, ARMH, BP, ETN, EL, K, SIRI, BBRY, APKT, ORCL, MHP)

Paul Ausick — Mon, 04 Feb 2013 21:06:57 +0000

U.S. equity markets opened lower this morning as concerns about European markets reared up again. The U.K.’s PMI came in lower than expected and consumer confidence was lower, sending equities markets on the continent lower. Several Italian banks are being investigated for derivatives deals and a scandal in Spain also heated up over the weekend. In Asia, China reported a slightly higher-than-expected non-manufacturing PMI number (more coverage here). In the U.S., factory orders were up, but by less than expected (more coverage here). Earnings reports were scarce, so there wasn’t much for investors to take positive direction from.

The U.S. dollar index rose 0.5% today, now at 79.552. The GSCI commodity index is up 0.6% at 679.05, with commodities prices mixed today. WTI crude oil closed down 1.6% today, at $96.17 a barrel. Brent crude trades down 1% at $115.58 a barrel. Natural gas is up 0.5% today at about $3.32 per million BTUs. Gold settled up 0.4% today at $1,676.40 an ounce (more gold coverage here).

The unofficial closing bells put the DJIA down nearly 130 points to 13,880.08 (-0.93%), the NASDAQ fell about 48 points (-1.51%) to 3,131.17, and the S&P 500 fell -1.15% or more than 17 points to 1,495.72.

There were a several analyst upgrades and downgrades today, including Yahoo! Inc. (NASDAQ: YHOO) raised to ‘buy’ at Stifel Nicolaus; Merck & Co. (NYSE: MRK) cut to ‘underweight’ at Morgan Stanley; Google Inc. (NASDAQ: GOOG) cut to ‘market perform’ at BMO; Chevron Corp. (NYSE: CVX) cut to ‘neutral’ at UBS; and Broadcom Corp. (NASDAQ: BRCM) reiterated as ‘buy’ with a $46 price target at Argus.

Earnings reports since markets closed last night resulted in several price moves today, including these: Changyou.com Ltd. (NASDAQ: CYOU) is down 9.5% at $28.34; Gannett Co. Inc. (NYSE: GCI) is 6.1% at $18.64; Humana Inc. (NYSE: HUM) is up 4.5% at $78.76 (more coverage here); Randgold Resources Ltd. (NASDAQ: GOLD) is up 2.7% at $98.24 (more coverage here); Royal Caribbean Cruises Ltd. (NYSE: RCL) is down 3.8% at $35.41 (more coverage here); Simon Property Group Inc. (NYSE: SPG) is up 0.1% at $162.18; and The Clorox Co. (NYSE: CLX) is up 0.8% at $79.81 after posting a new 52-week high of $80.68.

After markets close today and before they open tomorrow morning we are scheduled to hear from Anadarko Petroleum Co. (NYSE: APC), Baidu Inc. (NASDAQ: BIDU), Edwards Lifesciences Corp. (NYSE: EW), Yum! Brands Inc. (NYSE: YUM), AGCO Corp. (NASDAQ: AGCO), Allergan Inc. (NYSE: AGN), Arch Coal Inc. (NYSE: ACI), Archer Daniels Midland Co. (NYSE: ADM), ARM Holdings plc (NASDAQ: ARMH), BP plc (NYSE: BP), Eaton Corp. (NYSE: ETN), Estee Lauder Companies Inc. (NYSE: EL), Sirius XM Radio Inc. (NASDAQ: SIRI), and Kellogg Inc. (NYSE: K).

Some standouts from today include the following stocks:

BlackBerry (NASDAQ: BBRY) is up 13.9% at $14.84. The smartphone maker, formerly known as Research in Motion, got a boost today from a report of good opening weekend sales in the U.K.. More coverage here.

Acme Packet Inc. (NASDAQ: APKT) is up 23.4% at $29.53. The networking firm is being acquired by Oracle Corp. for $1.7 billion. More coverage here.

The McGraw-Hill Companies (NYSE: MHP) is down 13.4% at $50.50. The financial information firm is getting hammered following a report that its S&P ratings agency may be investigated for its failure properly to let investors know the value of subprime mortgage bonds back in 2008. More coverage here. The company denies the any wrongdoing. More coverage here.

Stay tuned for Tuesday. Fed Governor Elizabeth Duke is giving a speech. We have also noted the following events on the schedule (all times Eastern):

10:00 a.m. – Institute for Supply Management non-manufacturing index
11:30 a.m. – 4- and 52-week Treasury bill auctions

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ACI, ADM, AGCO, AGN, APC, APKT, ARMH, BBRY, BIDU, BP, BRCM, CLX, CVX, CYOU, EL, ETN, EW, GCI, gold, GOOG, HUM, K, MHP, MRK, ORCL, RCL, SIRI, SPG, YHOO, YUM

Miners Get Boost on Rising Gold Price

Paul Ausick — Mon, 04 Feb 2013 18:08:08 +0000

The Comex April gold price has risen more than $5 today and is currently trading at $1,676.00 an ounce. Last week’s poor showing for fourth quarter U.S. GDP growth has pushed the yellow metal higher as it gets back some of its luster as a safe haven asset. A stronger dollar weighed on gold prices somewhat, but today’s rise is reflected in the stocks of many of the gold mining companies.

Randgold Resources Ltd. (NASDAQ: GOLD) reported earnings this morning and the company’s performance was better than expected and it forecast was also positive. Shares are up about 3.8% in the early afternoon, and share of Coeur d’Alene Mines Corp. (NYSE: CDE) are tagging along, up nearly 3%. Other shares getting traction today are Iamgold Corp. (NYSE: IAG), up 2.4%; Aurico Gold Inc. (NYSE: AUQ), up 1.8%, and Newmont Mining Corp. (NYSE: NEM), up 1.5%. Barrick Gold Corp. (NYSE: ABX), Goldcorp Inc. (NYSE: GG), and Gold Fields Ltd. (NYSE: GFI) are all up around 1%.

One thing to keep an eye on is the action on gold trading from central banks. One analyst thinks central banks will take about 280 tons of gold in the first half of this year, about the same as the last half of last year. The Fed’s assertion last week that inflation is under control has helped hold gold prices down, too. But if the global economy is picking up some strength, the inflation hawks start to appear and gold begins to glow again. That could be what’s happening today.

For the miners to prosper though, they need to control costs and hope for rising gold prices. That combination has been elusive.

Filed under: 24/7 Wall St. Wire, Commodities & Metals, Metals Tagged: ABX, AUQ, CDE, featured, GFI, GG, gold, IAG, NEM

Randgold Revenues Light, Dividend Hike Compensates

Paul Ausick — Mon, 04 Feb 2013 12:55:23 +0000

Randgold Resources Ltd. (NASDAQ: GOLD) reported fourth-quarter and full-year 2012 results before markets opened this morning.

For the quarter, the junior gold mining company posted diluted earnings per share (EPS) of $1.32 on revenues of $381.6 million. In the same period a year ago, the company reported EPS of $1.33 on revenues of $311.47 million. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.32 and $428.6 million in revenues.

For the full year, the company posted adjusted EPS of $4.70 on revenues of $1.32 billion, compared with EPS of $4.20 on revenues of $1.13 billion in 2011. The consensus estimate called for EPS of $4.81 on revenues of $1.36 billion.

Randgold’s board raised the company’s annual dividend by 25%, from $0.40 to $0.50. Combined with higher production — and better earnings — than originally expected, the stock should see a boost today.

Randgold’s CEO said:

It’s been a particularly eventful year but the team once again rose to the challenges. Not only did we achieve very creditable results for 2012 but we start 2013 in good shape and with a renewed focus on growing our production and managing our costs. Our chief objectives for this year are to pour first gold on schedule at Kibali, get Tongon back on target, maintain the strong performance at Loulo-Gounkoto and Morila, and continue to deliver profitable growth. Beyond that, our sights are still set on reaching our annual production target of plus 1.2 million ounces of gold by 2015.

Randgold, which operates exclusively in Africa, took a hit from the political disruption in the west African country of Mali. But the company’s big projects are in the southern part of the country, while most of the fighting has been in the north. How long that luck can last probably has as much to do with Randgold’s success as do its mining operations.

The consensus estimates for 2013 call for EPS of $5.87 on revenues of $1.6 billion. For the first quarter, the estimate calls for EPS of $1.31 on revenues of $435.8 million.

Randgold’s shares are up about 5.5% in premarket trading at $100.95 in a 52-week range of $72.91 to $127.27. Thomson Reuters had a consensus analyst price target of around $125.90 before today’s report.

Filed under: 24/7 Wall St. Wire, Commodities & Metals, Earnings Tagged: gold

24/7 Wall St. Closing Bell — February 1, 2013: Markets Stronger on Economic Data (VZ, MA, EPD, STZ, UPS, BYI, GDOT, WYNN, CVX, XOM, MAT, MRK, NOV, TSN, CYOU, GCI, HUM, GOLD, RCL, SPG, CLX, ZTS, KERX, FB)

Paul Ausick — Fri, 01 Feb 2013 21:08:30 +0000

U.S. equity markets opened higher this morning on the heels of a solid report on U.S. nonfarm payrolls, which rose less than expected but on top of a large upward revision for December (more coverage here). In Europe, PMI data was released and, with the exception of the U.K., came in better than expected (more coverage here). The eurozone consumer price index came in at 2%, lower than the expected 2.2%. In Asian, China’s PMI fell short of expectations (more coverage here). After U.S. employment data, the consumer sentiment index rose more than expected, and ISM data and construction data both boosted investors’ sentiment (more coverage here). As a result, major equities indexes climbed for the whole day, although light after trading moderated the climb. The DJIA closed above 14,000 for the first time since October 2007.

The U.S. dollar index fell 0.1% today, now at 79.126. The GSCI commodity index is down 0.1% at 675.37, with commodities prices mostly higher today. WTI crude oil closed up 0.3% today, at $97.77 a barrel, up 2%% for the week. Brent crude trades up 1% at $116.67 a barrel. Natural gas is down 1.3% today at about $3.30 per million BTUs. Gold settled up 0.5% today at $1,670.60 an ounce, up nearly 0.9% on the week.

The unofficial closing bells put the DJIA up more than 149 points to 14,009.79 (1.08%), the NASDAQ rose 37 points (1.18%) to 3,179.10, and the S&P 500 rose 1.01% or about 15 points to 1,513.17.

There were a several analyst upgrades and downgrades today, including Verizon Communications Inc. (NYSE: VZ) raised to ‘overweight’ at Piper Jaffray; Mastercard Inc. (NYSE: MA) cut to ‘market perform’ at Wells Fargo; Enterprise Products Partners LP (NYSE: EPD) cut to ‘neutral’ at Credit Suisse; Constellation Brands Inc. (NYSE: STZ) cut to ‘neutral’ at BofA/ML; and United Parcel Service Inc. (NYSE: UPS) cut to ‘neutral’ at Citigroup.

Earnings reports since markets closed last night resulted in several price moves today, including these: Bally Technologies Inc. (NYSE: BYI) is up 1.3% at $48.80; Green Dot Corp. (NYSE: GDOT) is up 2.1% at $13.68; Wynn Resorts Ltd. (NASDAQ: WYNN) is up 1% at $126.45 (more coverage here); Chevron Corp. (NYSE: CVX) is up 1.2% at $116.52 (more coverage here); Exxon Mobil Corp. (NYSE: XOM) is down fractionally at $89.93 (more coverage here); Mattel Inc. (NYSE: MAT) is up 1.3% at $38.12 after posting a new 52-week high of $38.55 earlier today; Merck & Co. Inc. (NYSE: MRK) is down 3.1% at $41.93; National Oilwell Varco Inc. (NYSE: NOV) is down 3.9% at $71.28 (more coverage here); and Tyson Foods Inc. (NYSE: TSN) is up 2.8% at $22.73 after posting a new 52-week high of $23.00 earlier today.

After markets close today and before they open Monday morning we are scheduled to hear from Changyou.com Ltd. (NASDAQ: CYOU), Gannett Co. Inc. (NYSE: GCI), Humana Inc. (NYSE: HUM), Randgold Resources Ltd. (NASDAQ: GOLD), Royal Caribbean Cruises Ltd. (NYSE: RCL), Simon Property Group Inc. (NYSE: SPG), and The Clorox Co. (NYSE: CLX).

Some standouts from today include the following stocks:

Zoetis Inc. (NYSE: ZTS) is up 20.3% at $31.29. The animal health spin-off from Pfizer Inc. (NYSE: PFE) held its IPO today. More coverage here.

Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) is down 18% at $7.45. The biopharma stock is giving back gains approaching 100% for the week, likely on some profit-taking.

Facebook Inc. (NASDAQ: FB) is down 4% at $29.74. The social network company sinks below $30 a share again, as analysts and investors try to figure out if the company’s business has a model.

Stay tuned for Monday. We have also noted the following events on the schedule (all times Eastern):

10:00 a.m. – Factory orders
11:30 a.m. – 3- and 6-month Treasury bill auctions

Have a great weekend!

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: BYI, CLX, CVX, CYOU, EPD, FB, featured, GCI, GDOT, gold, HUM, KERX, MA, MAT, MRK, NOV, RCL, SPG, STZ, TSN, UPS, VZ, WYNN, XOM, ZTS

24/7 Wall St. Closing Bell — January 24, 2013: Markets Mixed After Apple Earnings (AAPL, PG, EMR, CVS, GOLD, TIF, AMGN, SNDK, FFIV, NE, NVR, WDC, MMM, BMY, LMT, RTN, LUV, UNP, UAL, XRX, T, JNPR, MSFT, SBUX, HAL, HON, KMB, WY, NOK, NFLX, SWFT)

Paul Ausick — Thu, 24 Jan 2013 21:05:41 +0000

U.S. equity markets opened mixed this morning with the DJIA and the S&P 500 higher, and the Nasdaq lower, dragged down by concern over the earnings of Apple Inc. (NASDAQ: AAPL) (more coverage here). Apple’s troubles, though, may be traced more accurately to options trading (more coverage here). In Europe, preliminary PMI readings were better if still not positive (more coverage here). Unemployment levels in Spain reached an all-time high (more coverage here). In Asia Chinese PMI came in higher than expected (more coverage here) and Japan’s trade deficit was wider than expected. In the U.S., new claims for unemployment benefits fell sharply (more coverage here). The S&P 500 briefly topped 1,500 this morning for the first time in more than five years.

The U.S. dollar index rose 0.02% today, now at 79.941. The GSCI commodity index is down 0.3% at 661.98, with commodities prices mixed again today. WTI crude oil closed up 0.8% today, at $95.95 a barrel following a rise in crude stocks (more coverage here). Brent crude trades up 0.5% at $113.28 a barrel. Natural gas is down 2.8% today at about $3.45 per million BTUs after this week’s storage report (more coverage here). Gold settled down 1% today at $1,669.90 an ounce.

The unofficial closing bells put the DJIA up 46 points to 13,825.33 (0.33%), the NASDAQ fell more than 23 points (-0.74%) to 3,130.38, and the S&P 500 was flat at 1,494.82.

There were a several analyst upgrades and downgrades today, including Procter & Gamble (NYSE: PG) started as ‘neutral’ at Credit Suisse; Emerson Electric Co. (NYSE: EMR) raised to ‘buy’ at Deutsche Bank; CVS Caremark Corp. (NYSE: CVS) removed from U.S. Focus List at Goldman Sachs; Randgold Resources Ltd. (NASDAQ: GOLD) raised to ‘buy’ at BofA/ML; and Tiffany & Co. (NYSE: TIF) cut to ‘hold’ at Canaccord Genuity.

Earnings reports since markets closed last Friday resulted in several price moves today, including these: Apple Inc. (NASDAQ: AAPL) is down 12% at $452.53 (more coverage here); Amgen Corp. (NASDAQ: AMGN) is down 0.5% at $82.63; SanDisk Corp. (NASDAQ: SNDK) is up 3.2% at $49.19 (more coverage here); F5 Networks Inc. (NASDAQ: FFIV) is up 4.9% at $103.60; Noble Corp. (NYSE: NE) is down 5.4% at $37.70; NVR Inc. (NYSE: NVR) is up 2% at $1,001.58 after posting a new 52-week high of $1,023.99 earlier today; Western Digital Corp. (NASDAQ: WDC) is up 2.2% at $48.08 after posting a new 52-week high of $49.42 earlier today; 3M Corp. (NYSE: MMM) is up 0.2% at $99.68 after posting a new 52-week high of $99.80 earlier today (more coverage here); Bristol-Myers Squibb Co. (NYSE: BMY) is up 2.6% at $35.82; Lockheed Martin Corp. (NYSE: LMT) is down 2.6% at $93.56; Raytheon Inc. (NYSE: RTN) is down 3% at $56.49; Southwest Airlines Co. (NYSE: LUV) is up 0.9% at $11.46 after posting a new 52-week high of $11.62 earlier today (more coverage here); Union Pacific Corp. (NYSE: UNP) is down 0.7% at $134.35; United Continental Holdings Inc. (NYSE: UAL) is up 1.3% at $25.33 after posting a new 52-week high of 26.36 earlier today; and Xerox Corp. (NYSE: XRX) is up 2.6% at $7.78.

After markets close today and before they open tomorrow morning we are scheduled to hear from AT&T Inc. (NYSE: T), Juniper Networks Inc. (NASDAQ: JNPR), Microsoft Corp. (NASDAQ: MSFT), Starbucks Corp. (NASDAQ: SBUX), Halliburton Co. (NYSE: HAL), Honeywell International Inc. (NYSE: HON), Kimberly-Clark Corp. (NYSE: KMB), and Weyerhaeuser Corp. (NYSE: WY).

Some standouts from today include the following stocks:

Nokia Corp. (NYSE: NOK) is down 8.7% today at $4.24. The mobile handset maker posted earnings that were better than expected, but the outlook is weak. More coverage here.

Netflix Inc. (NASDAQ: NFLX) is up 42.5% at $147.16 after posting a new 52-week high of $149.17 earlier today. The video distribution firm posted much better earnings than expected and grew subscriber numbers significantly. More coverage here.

Swift Transportation Co. (NYSE: SWFT) is up 28.7% at $13.16 after posting a new 52-week high of $13.24 earlier today. The trucking company posted strong earnings last night.

Stay tuned for Friday. We have noted the following event on the schedule (all times Eastern):

10:00 a.m. – New home sales

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: AAPL, AMGN, BMY, CVS, EMR, FFIV, gold, HAL, HON, JNPR, KMB, LMT, LUV, MMM, MSFT, NE, NFLX, NOK, NVR, PG, RTN, SBUX, SNDK, SWFT, T, TIF, UAL, UNP, WDC, WY, XRX