24/7 Wall St. » HCP

Week’s Biggest Winners, JC Penny And Nine Others

247wallst — Sat, 18 Jun 2011 11:48:14 +0000

Shares in JC Penney (NYSE: JCP) rose 14.5% for the week as the faltering retailer appointed Ron Johnson, who has run Apple’s (NASDAQ: AAPL) retail stores as its next CEO. The market should be troubled by the role that long-time chief Myron Ullman will play as executive chairman. The description of his duties is vague enough to beg the question of who is in charge.

Shares of Lorillard (NYSE: LO) moved higher by 10% because it appears that regulations of menthol cigarettes will not tighten. Shares of VF Corp (NYSE: VFC) also rose 10% as it bought retailer Timberland for $2 billion.

Douglas A. McIntyre

S&P 500 WEEK TOP 10 (10 JUN – 16 JUN)	Ticker	Weekly Price Change (%)	Close Price 16Jun11	Close Price 10Jun11	Market Cap ($Mil)
J. C. Penney Company Inc.	JCP	14.5	34.27	29.92	7405.7
Lorillard Inc	LO	10.0	109.85	99.85	15786.0
V.F. Corp	VFC	10.0	100.96	91.80	11044.8
CarMax Inc	KMX	7.2	28.76	26.84	6495.5
Tyson Foods Inc.	TSN	5.6	18.08	17.12	5595.6
Best Buy Co. Inc.	BBY	5.6	30.01	28.43	11665.4
Tenet Healthcare Corp	THC	5.4	6.23	5.91	3049.9
Fastenal Co	FAST	4.8	32.46	30.97	9571.2
HCP Inc	HCP	4.7	36.69	35.03	14897.1
Cabot Oil & Gas Corp	COG	4.5	60.43	57.83	6312.9
Source: Capital IQ

Filed under: Research Tagged: BBY, FAST, GOG, HCP, JCP, KMX, LO, THC, TSN, VFC

HCP Boosts Cash Raise (HCP)

247wallst — Wed, 05 Aug 2009 13:29:20 +0000

HCP, Inc. (NYSE: HCP) is raising more cash than expected. The company has priced a secondary offering of 15.5 million shares of common stock at a price per share of $24.75, above the 11.5 million shares originally indicated in the offering. The release says the increased size was due to investor demand.

Funds received from the offering are approximately $384 million and will be used to repay all borrowings under HCP’s revolving credit facility. This includes debt applied to the cash payment of $165 million for the participation in first mortgage debt of HCR ManorCare. The remainder of the funds will be used for general corporate purposes.

BofA Merrill Lynch will act as book-running manager for the offering. The underwriters also have an over-allotment option to purchase up to 2,325,000 shares of common stock within 30 days.

Before the effects of this offering, the market cap of HCP was listed as $6.7 billion. Shares closed at $26.44 yesterday and that was down from $25.78 the day before (although yesterday was the dividend date of $0.46) on the same day as earnings.

So far, we have shares down 6% at $24.82 right before the open. Its 52-week trading range is $14.26 to $42.16. Average daily volume is roughly 5.1 million shares.

JON C. OGG
AUGUST 5, 2009

Posted in Healthcare, REIT, Secondary Offering Tagged: HCP

Top Pre-Market Analyst Upgrades (AVR, BLL, CE, ETR, HCP, HR, MRK, PTNR, PTEN, UAUA, VSE)

247wallst — Fri, 18 Jul 2008 06:48:46 +0000

These are not all of the upgrades or positive analyst calls seen this morning but these are some of the top calls seen this Friday morning:

Aventine Renewable (NYSE: AVR) Raised to Buy from Neutral at UBS.
Ball Corp (NYSE: BLL) Raised to Buy from Neutral at Goldman Sachs.
Celanese (NYSE: CE) Started as Outperform at Credit Suisse.
Entergy (NYSE: ETR) Raised to Buy from Hold at Jefferies.
HCP (NYSE: HCP) Raised To Buy From Neutral By Goldman Sachs.
Healthcare Realty Trust (NYSE: HR) Started as Outperform at Wachovia.
Merck (NYSE: MRK) Started as Buy at Citigroup.
Partner Communications (NASDAQ: PTNR) Started as Outperform at RBC Capital.
Patterson-UTI Energy (NASDAQ: PTEN) Raised to Outperform at Credit Suisse.
UAL (NASDAQ: UAUA) Raised to Overweight from Underweight at JPMorgan.
Yum! Brands (NYSE: YUM) Raised to Outperform from Market Perform at Wachovia.
VeraSun Energy (NYSE: VSE) Raised to Buy from Neutral at UBS.

Jon C. Ogg
July 18, 2008