Posts for Ticker ‘IM’

Ingram Micro, Skydiving Without A Parachute (IM, TECD)

Ingram_micro_logo_2Ingram Micro (NYSE: IM) is trading down about 7% pre-market after the company warned about its results ahead.  The technology product distribution company noted that soft economies globally are going to keep it from meeting its quarterly financial targets.

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Posted on: September 16, 2008 – 7:56 am in Earnings, Technology Companies, ,

Early-Bird Analyst Upgrades & Downgrades (CDNS, BEAT, CMVT, HSY, IM, LMNX, MAN, RHI, TWGP, WDFC)

These are not all of the early calls from analysts out there, but these are some of the calls that may impact the prices of these shares this summer Monday morning:

  • Cadence Design (CDNS) Raised to Buy at Citigroup.
  • CardioNet (BEAT) Cut to Hold at Citigroup.

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Posted on: August 18, 2008 – 6:20 am in Analyst Calls, , , , , , , , , ,

Goldman Sachs Lists Tech Picks & Pans (HPQ, IBM, STX, IM, EMC, AAPL, DELL, LXK, IVAC, MSFT)

Goldman Sachs has issued a broader snapshot of what to expect from Q4 earnings now that we have seen some of the companies report.  This is also ahead of the earning deluge next week.  The bulge bracket firm believes that results will be mostly in-line with expectation from year end seasonality and a weak US Dollar.  But Goldman Sachs is maintaining its defensive stance for enterprise-facing hardware stocks in early 2008 as CIO’s underspend on budgets in early 2008.

This actually outlines some of its favorite tech names that have double-digit earnings growth and P/E ratios under the S&P 500.  Here are some of the picks below:

  • Hewlett-Packard (NYSE:HPQ) remains its number one pick.
  • IBM (NYSE:IBM), Seagate Tech (NYSE: STX), and Ingram Micro (NYSE: IM) are also listed.
  • Apple (NASDAQ: AAPL) is noted as one that investors should continue to own for its upcoming catalysts.
  • EMC Corp. (NYSE: EMC) is noted as another standout stock.
  • Dell Inc. (NASDAQ: DELL) is also noted positively here as one to own because of its long-term turnaround potential.

While it is positive on these names above, Goldman Sachs is negative on two companies that it doesn’t believe benefited from any spending.  The two negative stocks noted are:

  • Lexmark (NYSE: LXK) was noted as likely to post weak numbers, and it is less than $1.00 above the 52-week lows;
  • Intevac Inc. (NASDAQ: IVAC), which is trading only about 1% above its 52-week low.

This also follows its raise yesterday where Microsoft (NASDAQ:MSFT) was raised to the Americas Conviction Buy List.

Jon C. Ogg
January 18, 2008

Posted on: January 18, 2008 – 7:59 am in Analyst Calls, Technology Companies, , , , , , , , , ,

Ingram Micro Catches A Goldman Sachs Upgrade (IM, TECD)

Ingram Micro Inc. (NYSE: IM) is seeing a valuation upgrade from Goldman Sachs this morning.  It is being added to the Americas Buy List (after a neutral) after recent weakness is showing an opportunity to build positions at what it is referring to as "trough valuation levels."

Goldman Sachs also noted that it expects fundamental strength across all geographies here to drive strong revenue and earnings growth in the December quarter and in 2008.  The research notes that Ingram Micro is down some 16% since early November on no real fundamental news, leaving the distributor at 9-times the Goldman Sachs calendar EPS target of $1.97.

Goldman Sachs sees this stock at $24 over the next 12 months.  This closed at $17.80 Wednesday and the 52-week trading range is $17.67 to $22.50.

We perused through First Call data and it appears that Wall Street analysts have a consensus target closer to $25 and a 2008 EPS target of $1.96, so this upgrade isn’t calling for anything that would be outlandish for a crowd of analysts.  Wall Street uses Tech Data (NASDAQ:TECD) as the comparison stock here and the valuations at Tech Data are much higher, although we would caution that there are more overlaps in more areas of the companies than a head to head comparison.

Jon C. Ogg
January 3, 2008

Posted on: January 3, 2008 – 7:31 am in Analyst Calls, Technology Companies, ,

52-Week Low Club: Transport, Semiconductors & Financials (January 2, 2008)

Truckers led the drop after a fake $100 oil print and after a YRC Worldwide (NASDAQ: YRCW) acquisition write-down, pulling down Arkansas Best (NASDAQ: ABFS) and others.  With no surprise, airlines followed suit with Airtrain (AAI), AMR Corp. (NYSE: AMR), Continental Airlines (NYSE:CAL), Delta (NYSE: DAL), FedEx (FDX), Jetblue (NASDAQ:JBLU), Mesa Air (NASDAQ: MESA), Northwest Air (NYSE: NWA), Southwest Airlines (NYSE:LUV), US Air (NYSE: LCC).

Chip and tech stocks on 52-week lows: AMAT, AMD, ADTN, ARRS, ATML, BBND, CHRT, FCS, FEIC, IDTI, IM, KLAC, KLIC, LRCX, LSCC, LSI, MCRL, MRVL, MU, NSM, STM, TER, XLNX

Financial Giants on 52-Week lows: BAC, BBT, BSC, CYN, DFG, EFX, FIC, FITB, FHN, MCO, NCC, PNSN, SNV, SBP, WFC, ZION.

We kept the REIT’s and the usual suspects in retail off the list that have been here day in and day out (although many hit new 52-week lows).  Here is the huge list of others 52-week lows:

  • Automatic Data (ADP), Cardinal Health (CAH), Career Education (CECO), Diebold (NYSE: DBD), EchoStar (DISH), Superior Offshore (DEEP), Dow Chemical (DOW), Eastman Kodak (EK), Emmis (EMMS), Ford (F), Fortune Brands (FO), General Motors (GM), Hasbro (HAS), Helen of Troy (HELE), Interpublic (IPG), Mattel (MAT), McClatchy (MNI), Media General (MEG), Nortel Networks (NT), Owens Corning (OC), Paychex (OPAYX), PHH Corp. (PHH), Playboy (PLA), Radio Shack (RSH), Rite Aid (RAD), Sherwin Williams (SHW), Sprint Nextel (S), Starbucks (SBUX), Starwood Hotels (HOT), Sun Microsystems (JAVA), Symantec (SYMC), Travelzoo (TZOO), VF Corp (VFC), Warner Music Group (WMG), Waste Management (WMI), Weight Watchers (WTW), Wendy’s (WEN)

Imagine how large this list would have been if retailers and REIT’s were included.
Jon C. Ogg
January 2, 2008

Posted on: January 2, 2008 – 4:23 pm in HI/LOW, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,