24/7 Wall St. » GT

24/7 Wall St. Closing Bell (PM, SNDK, BIDU, AMZN, ALU, ELY, CLWR, DECK, WY, TRP, GT, PG, NWL, MRK, HELE, F, COV, CVX, MDRX, EXPE, WDC)

Paul Ausick — Fri, 27 Apr 2012 20:05:47 +0000

Markets opened higher this morning following a lower-than-expected GDP growth estimate of 2.2%. That was weaker, but not awful (our coverage here). The consumer sentiment survey rose a couple of ticks in April, but Americans still believe the future will better than the present (our coverage here). The US dollar index fell today, now down -0.25% at 78.725. The GSCI commodity index is up 0.07% at 682.08, with commodities mostly higher on the slightly weaker dollar. WTI crude oil closed up 0.4% at $104.93/barrel, and Brent crude trades down -0.23% at $119.64/barrel. Gold settled up 0.3% today, at $1,664.80/ounce.

The unofficial closing bells put the DJIA up nearly 24 points to 13,228.24 (0.18%), the NASDAQ rose nearly 19 points (0.61%) to 3,069.20, and the S&P 500 rose 0.24% or more than 3 points to 1,403.37.

There were several analyst upgrades and downgrades today, including Philip Morris International Inc. (NYSE: PM) reiterated as ‘buy’ and target price raised to $94 at Argus; SanDisk Corp. (NASDAQ: SNDK) raised to ‘buy’ at Jefferies; Baidu Inc. (NASDAQ: BIDU) maintained as ‘neutral’ but target price cut at Credit Suisse; Amazon.com Inc. (NASDAQ: AMZN) raised to ‘buy’ at BofA/ML, Nomura, and Goldman Sachs; and Alcatel-Lucent SA (NYSE: ALU) maintained as ‘underperform’ and estimates cut at Jefferies.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Amazon.com is up 15.6% at $226.64; Callaway Golf Co. (NYSE: ELY) is down -14.9% at $5.94 (our coverage here); Clearwire Corp. (NASDAQ: CLWR) is down -2.7% at $1.43; Deckers Outdoor Corp. (NASDAQ: DECK) is down -25.5% at $51.78 after posting a new 52-week low of $51.03 (our coverage here); Weyerhaeuser Corp. (NYSE: WY) is down -0.3% at $20.81 (more coverage here); TransCanada Corp. (NYSE: TRP) is up 0.5% at $44.01; The Goodyear Tire & Rubber Co. (NYSE: GT) is down -5.1% at $11.32; Procter & Gamble Co. (NYSE: PG) is down -4% at $64.18 (our coverage here); Newell Rubbermaid Inc. (NYSE: NWL) is up 3.6% at $18.61; Merck & Co. (NYSE: MRK) is down -0.2% at $38.38; Helen of Troy Ltd. (NASDAQ: HELE) is up 4.4% at $35.33; Ford Motor Co. (NYSE: F) is down -2.1% at $11.62 (our coverage here); and Covidien plc (NYSE: COV) is up 0.5% at $55.32.

Be sure to look at our list of next week’s big earnings.

Other standouts from today include the following stocks:

Chevron Corp. (NYSE: CVX) is up 0.2% at $106.44. The supermajor oil company reported earnings in line, but production was down. More coverage here.

Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) is down -36% at $10.25 after posting a new 52-week low of $9.00. The healthcare services provider fired its chairman, and the list of woes goes on. More coverage here.

Expedia Inc. (NASDAQ: EXPE) is up 24.4% at $40.59. The Internet travel company posted better-than-expected quarterly results. More coverage here.

Western Digital Corp. (NYSE: WDC) is down -14.2% at $37.83. The disk drive maker had solid earnings, but worries abound about next quarter. More coverage here.

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

8:30 a.m. – Personal income and spending
9:45 a.m. – Chicago PMI
10:30 a.m. – Dallas Fed manufacturing survey
11:30 a.m. – 3- and 6-month bill auctions
3:00 p.m. – Farm Prices

Have a great weekend!

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ALU, AMZN, BIDU, CLWR, COV, CVX, DECK, ELY, EXPE, F, GT, HELE, MDRX, MRK, NWL, PG, PM, SNDK, TRP, WDC, WY

The Growth of the Short-Selling Hedge Fund ETF (HDGE, GT, OPEN, ENR, COL, GMCR, C, ERIC, ATI, BBY, JCI)

Administrator — Thu, 12 Apr 2012 15:06:03 +0000

Apparently having a short selling strategy under a hedge fund exchange-traded fund model has been working. This week we received notice that the assets under management for AdvisorShares ActiveBear ETF (NYSE: HDGE) hit a record with more than $209 million in assets under management. That figure was listed on the fact sheet as being $205 million as of Wednesday’s close. This is a short-selling strategy ETF, so in theory its share price will rise as the market falls and/or when the holdings fall in value.

The short-only equity ETF saw inflows as well this week as the market was soft earlier in the week, but that will obviously ebb and flow as the markets rise and fall. The top ten short positions are as follows (largest first): Goodyear Tire & Rubber Co. (NYSE: GT); OpenTable, Inc. (NASDAQ: OPEN); Energizer Holdings Inc. (NYSE: ENR); Rockwell Collins Inc. (NYSE: COL); Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR); Citigroup, Inc. (NYSE: C); Ericsson (NASDAQ: ERIC); Allegheny Technologies Inc. (NYSE: ATI); Best Buy Co. Inc. (NYSE: BBY); and Johnson Controls Inc. (NYSE: JCI). Without rounding up or down, these top ten short positions account for only 32% to 33% of the entire ETF’s short positions.

Here is the ETF’s philosophy in a nutshell: “The portfolio management team implements a bottom-up, fundamental, research driven security selection process. In selecting short positions, the Fund seeks to identify securities with low earnings quality or aggressive accounting which may be intended on the part of company management to mask operational deterioration and bolster the reported earnings per share over a short time period. In addition, the portfolio management team seeks to identify earnings driven events that may act as a catalyst to the price decline of a security, such as downwards earnings revisions or reduced forward guidance.”

One thing is nearly certain here. If investors are looking for an ETF product that bets against high valuations or against what may be market aberrations, they may have found their vehicle.

Now, here is the flip-side of this ETF. There are two sides to every coin. If you get into a serious bull situation this can lose incredible amounts of money. Sometimes it is the most troubled stocks which rally the most, and it doesn’t take a rocket scientist to figure out what likely happens to the price of this ETF in that situation.

The ETF’s Net Expense Ratio is currently 3.29% but the fund noted “The Advisor has contractually agreed to keep the Fund’s Total Annual Fund Operating Expenses from exceeding 1.85% for at least a year from the date of the Prospectus. This agreement is limited to the Fund’s direct operating expenses and, therefore, does not apply to “Acquired Fund Fees and Expenses.” The fee breakdown is as follows per the ETF fact sheet:

Management Fee 1.50%
Short Interest Expense 1.44%
Other Expenses 0.22%
Acquired Fund Fees 0.13%
Gross Expense Ratio 3.29%

JON C. OGG

Filed under: ADR, Corporate Governance, ETF, Mutual Funds, Personal Finance, Short Interest Tagged: ATI, BBY, C, COL, ENR, ERIC, GMCR, GT, HDGE, JCI, OPEN

Top Analyst Upgrades & Downgrades (ANDE, BAC, DELL, GEVO, GT, KMB, OIS, OCR, PWAV, RAX, RCL, SWY, TRMB, ZNGA)

Administrator — Wed, 15 Feb 2012 13:20:07 +0000

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

The Andersons, Inc. (NASDAQ: ANDE) named as Value stock of the day at Zacks.
Bank of America Corporation (NYSE: BAC) Cut to Market Perform at Bernstein.
Dell Inc. (NASDAQ: DELL) Cut to UNderperform at Stern Agee.
Gevo, Inc. (NASDAQ: GEVO) Started as Buy with $16 target at Canaccord Genuity.
Goodyear Tire & Rubber Company (NYSE: GT) Cut to Hold at S&P Capital IQ.
Kimberly-Clark Corporation (NYSE: KMB) Cut to Neutral at Janney.
Oil States International (NYSE: OIS) Started as Buy with $103 target at Canaccord Genuity.
OmniCare Inc. (NYSE: OCR) Raised to Outperform at Credit Suisse.
Powerwave Technologies, Inc. (NASDAQ: PWAV) Cut to Underweight at JPMorgan; Target cut to $1.00 at Canaccord Genuity.
Rackspace Hosting, Inc. (NYSE: RAX) Cut to Market Perform at Raymond James.
Royal Caribbean Cruises Ltd. (NYSE: RCL) named Bear of the Day at Zacks.
Safeway Inc. (NYSE: SWY) Raised to Outperform at Credit Suisse.
Trimble Navigation (NASDAQ: TRMB) named Bull of the Day at Zacks.
Zynga Inc. (NASDAQ: ZNGA) Cut to Neutral at Baird; Cut to Equal-weight at Barclays.

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: ANDE, BAC, DELL, GEVO, GT, KMB, OCR, OIS, PWAV, RAX, RCL, SWY, TRMB, ZNGA

24/7 Wall St. Closing Bell (ACI, NFLX, KMI, KMP, HNZ, AVP, GT, WPI, ARB, BWA, CPLA, FOSL, HSP, OMC, ZIP, KORS, SYNM, CHTP, ENER, JKS)

Paul Ausick — Tue, 14 Feb 2012 21:10:40 +0000

US stock markets opened lower this morning and gradually lost ground throughout the day. A fractionally lower opening bell has translated to around a -0.6% loss on each of the major indexes about half an hour before closing. Last night’s downgrade of the sovereign debt of six European countries set the tone in both Asia and Europe, but by mid-day, a fairly weak report on US retail sales and a more modest than expected rise in business inventories kept share prices from rising. In the late afternoon, Eurozone leaders canceled tomorrow’s meeting on the Greek bailout saying that Greece had failed to meet several demands related to the proposed $172 billion bailout. Germany’s finance minister even displayed a “who cares?” attitude toward the possibility of a Greek default (our story here). Crude oil was mixed today, with larger early gains lost on the weak news and the stronger dollar. WTI crude rose 0.08% to $100.99/barrel and Brent crude rose 0.25% to $117.68/barrel. Gold was down -0.4%, settling at $1,717.70/ounce.

The unofficial closing bells put the DJIA up about 4 points to 12,878.28 (0.03%), the NASDAQ rose less than 1 point (0.02%) to 2,931.83, and the S&P 500 fell -0.09% or just over 1 point to 1,350.5.

There were several analyst upgrades and downgrades today, including Arch Coal Inc. (NYSE: ACI) cut to ‘hold’ at Argus; Netflix Inc. (NASDAQ: NFLX) raised to ‘outperform’ and target price raised to $140 at Credit Suisse; 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; and H.J. Heinz Co. (NYSE: HNZ) started as ‘underweight’ at Morgan Stanley.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Avon Products Inc. (NYSE: AVP) is up 1.2% at $17.74; Goodyear Tire & Rubber Co. (NYSE: GT) is down -5.7% at $13.18; Watson Pharmaceuticals Inc. (NYSE: WPI) is up 3.8% at $59.89; Arbitron Inc. (NYSE: ARB) is up 4.4% at $36.94; BorgWarner Inc. (NYSE: BWA) is up 0.42% at $79.18; Capella Education Co. (NASDAQ: CPLA) is down -13.3% at $39.30; Fossil Inc. (NASDAQ: FOSL) is up nearly 13% at $118.02; Hospira Inc. (NYSE: HSP) is up 6.7% at $36.50; Omnicom Group Inc. (NYSE: OMC) is down -0.23% at $47.91; and Zipcar Inc. (NASDAQ: ZIP) is down -13% at $13.99, a new 52-week low.

Other standouts from today include the following stocks:

Michael Kors Holdings Ltd. (NYSE: KORS) is up nearly 25% at $41.92 after posting a new high of $42.43 earlier today. The apparel company reported better-than-expected earnings today, and the shares have more than doubled since the company’s IPO in mid-December.

Syntroleum Corp. (NASDAQ: SYNM) is up up 20% at $1.32. The biodiesel maker’s joint venture with Tyson Foods Inc. (NYSE: TSN) has signed a deal to distribute synthetic diesel fuel.

Chelsea Therapeutics International Inc. (NASDAQ: CHTP) is up nearly 19% at $3.69. The company’s shares fell almost -40% yesterday, but bargain hunters can’t resist. We mentioned this possibility yesterday.

Energy Conversion Devices Inc. (NASDAQ: ENER) is down more than -80% to $0.29. The solar maker filed for bankruptcy this morning. We have more coverage here.

JinkoSolar Holding Co. Ltd. (NYSE: JKS) is down nearly -12% at $7.95. The solar panel maker is just one more victim among solar stocks today of a proposed cutback in Germany’s solar subsidies and the bankruptcy of ECD. More coverage here.

Stay tuned for Wednesday. Dallas Fed President Richard Fisher is giving a speech. We have noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
8:30 a.m. – Empire State manufacturing survey
9:15 a.m. – Industrial production
10:00 a.m. – Housing market index
10:30 a.m. – EIA weekly petroleum status report
2:00 p.m. – FOMC minutes released

Paul Ausick

Filed under: General Tagged: ACI, ARB, AVP, BWA, CHTP, CPLA, ENER, FOSL, GT, HNZ, HSP, JKS, KMI, KMP, KORS, NFLX, OMC, SYNM, WPI, ZIP

Top Earnings & Economic Previews For The Day Ahead (AVP, GT, MET, OMC, WPI, ZNGA)

Administrator — Mon, 13 Feb 2012 18:13:14 +0000

We have several sector-moving earnings reports due on Tuesday, February 14. These are basic previews for shares of Avon Products, Inc. (NYSE: AVP), Goodyear Tire & Rubber Co. (NYSE: GT), MetLife Inc. (NYSE: MET), Omnicom Group Inc. (NYSE: OMC), Watson Pharmaceuticals, Inc. (NYSE: WPI), and Zynga Inc. (NASDAQ: ZNGA).

Avon Products, Inc. (NYSE: AVP) $0.51 EPS on $3.11 billion; a serial disappointment in shares and current bribery news is just that much uncertainty for turnaround investors. The hope has to be that the bar is set low. The CEO search remains ongoing.

Goodyear Tire & Rubber Co. (NYSE: GT) $0.20 EPS on $5.88 billion in sales. This remains a long-term turnaround story valued at less than 7-times expected earnings.

MetLife Inc. (NYSE: MET) $1.24 EPS on $16.81 billion in revenues; shares are mid-way between the 52-week high and 52-week low.

Omnicom Group Inc. (NYSE: OMC) $0.95 EPS on $3.8 billion in sales.

Watson Pharmaceuticals, Inc. (NYSE: WPI) $1.76 EPS on $1.54 billion in sales.. With some generic Lipitor sales in the quarter and with some insurers starting to only cover the generic Lipitor, earnings and guidance could have a swing different from past quarters due to the mega-blockbuster status of Lipitor.

Zynga Inc. (NASDAQ: ZNGA) is one which we just do not really have a basis to call on as the analyst coverage is all new and this is the first post-IPO earnings report from the social gaming outfit. Shares are up around $13.60 now and well off of lows due to the Facebook-effect lifting the value on anything tied to social media.

Here are the economic events for Tuesday:

8:30 AM EST January Import Prices expected at +0.3%
8:30 AM EST January Retail Sales expected at 0.8%
10:00 AM EST December Business Inventories expected at +0.4%

JON C. OGG

Filed under: Calendar, Earnings, Economy Tagged: AVP, GT, MET, OMC, WPI, ZNGA

Top Earnings Previews For The Week Ahead (CRL, CIM, NAT, RAX, AVP, GT, MET, OMC, ZNGA, A, NVDA, PCG, DVN, DE, NTAP, CMCSA, APA, DTV, WM, JWN, AMAT, DUK, HNZ, CPB)

Administrator — Sun, 12 Feb 2012 13:22:53 +0000

Earnings season is starting to slow down a bit but we will still have some sector-moving earnings reports from major companies. 24/7 Wall St. has prepared earnings previews for the following companies:

Charles River Laboratories International Inc. (NYSE: CRL); Chimera Investment Corporation (NYSE: CIM); Nordic American Tankers Ltd. (NYSE: NAT); Rackspace Hosting Inc. (NYSE: RAX); Avon Products, Inc. (NYSE: AVP); Goodyear Tire & Rubber Co. (NYSE: GT); MetLife Inc. (NYSE: MET); Omnicom Group Inc. (NYSE: OMC); Zynga Inc. (NASDAQ: ZNGA); Agilent Technologies, Inc. (NYSE: A); NVIDIA Corporation (NASDAQ: NVDA); PG&E Corp. (NYSE: PCG); Devon Energy Corporation (NYSE: DVN); Deere & Co. (NYSE: DE); NetApp, Inc. (NASDAQ: NTAP); Comcast Corporation (NASDAQ: CMCSA); Apache Corporation (NYSE: APA); DIRECTV, Inc. (NASDAQ: DTV); Waste Management, Inc. (NYSE: WM); Nordstrom Inc. (NYSE: JWN); Applied Materials Inc. (NASDAQ: AMAT); Duke Energy Corporation (NYSE: DUK); H.J. Heinz Company (NYSE: HNZ); and Campbell Soup Company (NYSE: CPB).

Earnings estimates are from Thomson Reuters and the dates may change by the companies. More detailed previews will be available each day this coming week with much more color and trading information.

MONDAY, FEB 13

Charles River Laboratories International Inc. (NYSE: CRL) $0.56 EPS

Chimera Investment Corporation (NYSE: CIM) $0.11 EPS

Nordic American Tankers Ltd. (NYSE: NAT) -$0.29 EPS… with losses expected this year, we will be watching for any dividend news after the company sold 5.5 million shares last month.

Rackspace Hosting Inc. (NYSE: RAX) $0.15 on $281 million in sales; this one still trades at close to 60-times 2012 expected earnings of $0.81 EPS.

TUESDAY, FEB 14

Avon Products, Inc. (NYSE: AVP) $0.51 EPS on $3.11 billion; a serial disappointment in shares, but turnaround investors have hopes that the bar is set extremely low. Earnings will prove if there is a value story here or just more of a value trap.

Goodyear Tire & Rubber Co. (NYSE: GT) $0.20 EPS on $5.88 billion in sales; this is still a long-term turnaround story valued at less than 7-times expected earnings.

MetLife Inc. (NYSE: MET) $1.24 EPS on $16.81 billion in revenues; shares are mid-way between the 52-week high and 52-week low.

Omnicom Group Inc. (NYSE: OMC) $0.95 EPS on $3.8 billion in sales.

Zynga Inc. (NASDAQ: ZNGA) estimates are not yet available for its first quarterly earnings report. Shares are now back over $13.00 due to the Facebook-effect on anything tied to social media.

Don’t forget about Valentine’s Day….

Filed under: 24/7 Wall St. Wire, Calendar, Earnings, The Week Tagged: A, AMAT, APA, AVP, CIM, CMCSA, CPB, CRL, DE, DTV, DUK, DVN, GT, HNZ, JWN, MET, NAT, NTAP, NVDA, OMC, PCG, RAX, WM, ZNGA

24/7 Wall St. Top Analyst Upgrades & Downgrades of the Week (AVL, BRK-B, CRZO, DPZ, GILD, GT, GOOG, GMCR, HPQ, LULU, RIMM, SINA, WDC)

Administrator — Sat, 03 Dec 2011 12:31:31 +0000

This last week had some very interesting and influential analyst calls. We compile summaries of many top analyst upgrades, downgrades, and initiations each morning from Wall Street research calls and we then review these at the end of each week. Those calls which stand out the most become the Top Analyst Upgrades & Downgrades of the Week. This was a wild week and ended up being a massive gainer due to the coordinated central banking efforts meant at keeping liquidity in the capital markets in Europe.

The top calls of the week were seen in the following companies: Avalon Rare Metals Inc. (AMEX: AVL); Berkshire Hathaway Inc. (NYSE: BRK-B); Carrizo Oil & Gas (NASDAQ: CRZO); Domino’s Pizza, Inc. (NYSE: DPZ); Gilead Sciences Inc. (NASDAQ: GILD); Goodyear Tire & Rubber Company (NYSE: GT); Google Inc. (NASDAQ: GOOG); Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR); Hewlett-Packard Co. (NYSE: HPQ); Lululemon Athletica Inc. (NASDAQ: LULU); Research In Motion Ltd. (NASDAQ: RIMM); Sina Corporation (NASDAQ: SINA); and Western Digital Corporation (NYSE: WDC).

We have outlined the research summaries here on each, and we have added color or linked to more details on the calls if applicable.

Avalon Rare Metals Inc. (AMEX: AVL) is considered the speculative step child in the field of rare-earth metals. Still, this week came coverage from Citigroup with a “Buy” rating this last Monday. The prior closing price had been $2.63 and the stock ramped mid-week. The high close was $3.34 on Wednesday even though it closed down over 5% on Friday at $3.05. The high close in the week would have given a gain of 27% and the gain for the week was still up 16%. The 52-week range is $2.29 to $10.11, making this a leveraged call with huge upside if things work out at the company.

Berkshire Hathaway Inc. (NYSE: BRK-B) very rarely shows up in research calls, so it was a surprise when Zacks came out and named Warren Buffett conglomerate as the Bull of the Day with a $91.00 target for the next six-months.

Carrizo Oil & Gas (NASDAQ: CRZO) was only a reiterated Buy rating on Thursday by Canaccord Genuity but the implications offer huge upside if the firm is right. The firm called it a top small cap idea with multiple ways to win and with a “valuation too tepid.” The new $49.00 price target implies upside of 71%.

Domino’s Pizza, Inc. (NYSE: DPZ) was a cautious call because of valuation, but it may offer insight into how much investors should be willing to pay for the pizza delivery leader. The stock was started as Hold at KeyBanc on Friday, which was also the day that this hit a 5-year high. 24/7 Wall St. originally went out with the “buy the value here” call early in 2011 when shares were under $20.00 and we had already taken this one off the list because of value concerns. Friday’s call may point to more and more peak-values here.

Filed under: Analyst Calls, The Week, Value Investing Tagged: AVL, BRK-B, CRZO, DPZ, GILD, GMCR, GOOG, GT, HPQ, LULU, RIMM, SINA, WDC

Top Analyst Upgrades & Downgrades (AMR, CAB, CPN, ERTS, GT, GMCR, HD, LEAP, NAV, NFLX, EDU, NMR, OVTI, STP, RIG, WSH)

Administrator — Wed, 30 Nov 2011 13:25:29 +0000

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

AMR Corporation (NYSE: AMR) Cut to Sell at Citigroup.
Cabela’s, Inc. (NYSE: CAB) named as Bull of the Day at Zacks.
Calpine Corporation (NYSE: CPN) Cut to Hold at Jefferies.
Electronic Arts Inc. (NASDAQ: ERTS) Raised to Buy at Citigroup.
Goodyear Tire & Rubber Company (NYSE: GT) named as value stock of the day at Zacks.
Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) Reiterated Buy with $94 target at Canaccord Genuity.
Home Depot Inc. (NYSE: HD) Reiterated Buy with $46 target at Argus.
Leap Wireless International Inc. (NASDAQ: LEAP) Raised to Outperform at RBC Capital.
Navistar International Corporation (NYSE: NAV) Raised to Neutral at Goldman Sachs.
Netflix, Inc. (NASDAQ: NFLX) Cut to Underperform at Wedbush.
New Oriental Education & Technology Group (NYSE: EDU) Started as Outperform at Credit Suisse.
Nomura Holdings, Inc. (NYSE: NMR) Started as Neutral at Credit Suisse.
OmniVision Technologies Inc. (NASDAQ: OVTI) maintained Buy on valuation but cut target to $12 at Canaccord Genuity.
Suntech Power Holdings Co. Ltd (NYSE: STP) Reiterated Hold at Argus.
Transocean Ltd. Co. (NYSE: RIG) Cut to Hold at Argus.
Willis Group Holdings, Plc (NYSE: WSH) named as Bear of the Day at Zacks.

JON C. OGG

Filed under: Analyst Calls Tagged: AMR, CAB, CPN, EDU, ERTS, GMCR, GT, HD, LEAP, NAV, NFLX, NMR, OVTI, RIG, STP, WSH

Top Analyst Upgrades & Downgrades (AAP, A, ALIM, CNP, CIM, CWTR, GT, K, LOW, M, NU, NST, CRM, FIRE)

Administrator — Tue, 15 Nov 2011 13:39:41 +0000

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

Advance Auto Parts Inc. (NYSE: AAP) Cut to Hold at Argus.
Agilent Technologies Inc. (NYSE: A) Raised to Buy at BofA/ML.
Alimera Sciences, Inc. (NASDAQ: ALIM) Cut to Neutral with $2 target at Credit Suisse.
CenterPoint Energy, Inc. (NYSE: CNP) Cut to Neutral at BofA/ML.
Chimera Investment Corporation (NYSE: CIM) Reiterated Outperform at Credit Suisse.
Coldwater Creek Inc. (NASDAQ: CWTR) Added to Strong Sell List at Zacks.
Goodyear Tire & Rubber Co. (NYSE: GT) named Bull of the Day at Zacks.
Kellogg Company (NYSE: K) Cut to Sell as Bear of the Day at Zacks.
Lowe’s Companies Inc. (NYSE: LOW) Raised target to $28 from $25 at Argus.
Macy’s Inc. (NYSE: M) named value stock of the day at Zacks.
Northeast Utilities (NYSE: NU) Raised to Buy at BofA/ML.
NSTAR (NYSE: NST) Raised to Buy at BofA/ML.
Salesforce.com Inc. (NYSE: CRM) Reiterated Neutral at Credit Suisse.
Sourcefire, Inc. (NASDAQ: FIRE) Initiated as Buy at BofA/ML.

JON C. OGG

Filed under: Analyst Calls Tagged: A, AAP, ALIM, CIM, CNP, CRM, CWTR, FIRE, GT, K, LOW, M, NST, NU

The Ten Best S&P Stocks of October (SPY, JNPR, NBR, FFIV, DNR, HAR, JOYG, NOV, VLO, GT, EP)

Administrator — Tue, 01 Nov 2011 14:52:09 +0000

The month of October was a solid month for stocks, one of the best months of our lifetimes. We have two groups today and the first is the stocks which rose the most in the S&P 500 Index from the end of September to the end of October. The moves were more than impressive and the top ten had to rise more than 36% to even be in the screen from Capital IQ.

The SPDR S&P 500 (NYSE: SPY) rose by 10.9%. but the gain from trough to peak was far more. We have offered some color on each and shown how much implied upside is there to the Thomson Reuters consensus analyst price target as well. These gainers are listed lowest to highest on a percentage basis for the month.

Denbury Resources Inc. (NYSE: DNR) rose by 36.5% as shares rose from $11.50 to $15.70. Analysts have a consensus price target of $24.40. The company acquires and develops oil and gas properties in the Gulf Coast states. The company announced a $500 million share buyback during October, but it also announced that its President & COO has left the company.

Valero Energy Corporation (NYSE: VLO) saw a 38.4% gain as the stock rose from $17.78 at the end of September to $24.60 at the end of October. Analysts have a consensus price target of $31.50. Valero was the subject of buyout speculation and its shares have not really sold off after word came that one rumored acquirer was not looking o acquire it.

National Oilwell Varco Inc. (NYSE: NOV) saw a 39.3% rise from $51.22 at the end of September to $71.33 at October’s end. Analysts have a consensus price target of $89.75. If the offshore oil market is going to be opened back up, having a an offshore rig manufacturing business is going to be robust again.

Joy Global, Inc. (NASDAQ: JOYG) saw a gain of 39.8% from $62.38 on September 30 up to $87.20 at the end of October. Analysts have a consensus price target of $102.00.

Juniper Networks, Inc. NYSE: JNPR) rose by 41.8% in October $24.47 versus $17.26. The turnaround in networking is being seen in the stock. Analysts have a consensus price target of $25.03. Juniper has risen off of lows just as many other networking equipment players have seen.

Goodyear Tire & Rubber Co. (NYSE: GT) rolled on and on for a 42.3% gain as shares went from $10.09 at the end of September to $14.36 at the end of October. Analysts have a consensus price target of $18.69. Goodyear is back to profits and shares are actually still very cheap at about 7-times a blended forward P/E for 2011 and 2012 estimates.

El Paso Corp. (NYSE: EP) saw a 43.1% gain for the month but we would not that this is due mostly to the acquisition of the company.

F5 Networks, Inc. (NASDAQ: FFIV) had a very large run as the network equipment player bounced hard off its lows. A move from $71.05 at the end of September to $103.95 was up 46.3%. Analysts have a consensus price target of $106.67.

Nabors Industries Ltd. (NYSE: NBR) was one of the top performers for October as the shares rose from $12.26 to $18.33, generating a 49.5% gain. The $100 million payout for the CEO exit is under criticism, but the oil and gas driller did beat earnings and has reorganized its management structure. Analysts have a consensus price target of $27.33.

Harman International Industries Inc. (NYSE: HAR) saw a rise of 51.5% as the stock rose from $28.53 on a dividend-adjusted basis up to $43.16. Analysts have a consensus price target of $47.25. In late October came word of higher 2012 guidance as well as a buyback of up to $200 million in its stock over the next year.

JON C. OGG

Filed under: HI/LOW, Index, Trading Alert Tagged: DNR, EP, FFIV, GT, HAR, JNPR, JOYG, NBR, NOV, SPY, VLO