AAR Corporation (NYSE: AIR) named Bear of the Day at Zacks.

AGCO Corporation (NYSE: AGCO) named Bull of the Day at Zacks.

Akamai Technologies, Inc. (NASDAQ: AKAM) Raised to Buy at Janney Capital.

Amazon.com, Inc. (NASDAQ: AMZN) Raised to Outperform at Credit Suisse.

Applied Materials Inc. (NASDAQ: AMAT) Cut to Hold at Needham.

Colgate-Palmolive Co. (NYSE: CL) Raised to Buy at Argus.

Dominion Resources, Inc. (NYSE: D) Raised to Buy at Jefferies.

Flextronics International Ltd. (NASDAQ: FLEX) Raised to Buy at BofA/ML.

Groupon, Inc. (NASDAQ: GRPN) Raised to Buy at Citigroup; Raised to Buy at Stern Agee.

Infoblox Inc. (NYSE: BLOX) Started as Equal-weight at Morgan Stanley; Started as Overweight at Stephens; Started as Neutral at Goldman Sachs.

Jabil Circuit Inc. (NYSE: JBL) Raised to Buy at BofA/ML.

J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) Started as Outperform at William Blair.

Juniper Networks, Inc. (NYSE: JNPR) Raised to Buy at BofA/ML.

McDonald’s Corporation (NYSE: MCD) Cut to Neutral at Cowen.

Par Pharmaceutical Companies Inc. (NYSE: PRX) named value stock of the day at Zacks.

Phillips 66 (NYSE: PSX) Started as Buy at Citigroup.

Prudential Financial, Inc. (NYSE: PRU) Cut to Hold at Argus.

Royal Bank of Scotland Group PLC (NYSE: RBS) Raised to Equalweight at Morgan Stanley.

Southern Company (NYSE: SO) Raised to Buy at Jefferies.

Total SA (NYSE: TOT) Raised to Buy at UBS.

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JON C. OGG

Many of Apple’s suppliers are well-known, but the list includes Advanced Micro Devices Inc. (NYSE: AMD), Cypress Semiconductor Corp. (NASDAQ: CY), Broadcom Corp. (NASDAQ: BRCM), Fairchild Semiconductor International Inc. (NYSE: FCS), Flextronics International Ltd. (NASDAQ: FLEX), Jabil Circuit Inc. (NYSE: JBL), Vishay Intertechnology Inc. (NYSE: VSH), TriQuint Semiconductor Inc. (NASDAQ: TQNT), SanDisk Corp. (NASDAQ: SNDK), ON Semiconductor Corp. (NASDAQ: ONNN), and Qualcomm Inc. (NASDAQ: QCOM).

The report is based on 229 audits, of which 14 were specialized environmental audits and 27 process safety audits. Apple found 6 current cases of suppliers hiring underage workers and 13 historical cases of child labor violations. About these violations, the company said:

In each case, the facility had insufficient controls to verify age or detect false documentation. We found no instances of intentional hiring of underage labor. We required the suppliers to support the young workers’ return to school and to improve their management systems—such as labor recruitment practices and age verification procedures—to prevent recurrences.

Chinese environmental groups last year charged that 27 of Apple’s suppliers were dumping toxic gases and heavy metal sludges into the country’s land and air. The company’s audits revealed that 112 supplier facilities were not properly storing, moving, or handling hazardous chemicals correctly; 69 facilities were illegally dumping or failing to recycle hazardous waste; and 52 facilities failed to label hazardous materials. Apple also reported that 58 facilities failed to monitor and control air emissions.

Apple had come under increasing pressure to name its suppliers and to hold them to a higher standard following suicide attempts by 18 workers and 14 deaths at China’s Foxconn facility in 2010.

Paul Ausick

Benchmark Electronics Inc. (NYSE: BHE), Celestica Inc. (NYSE: CLS), Flextronics (NASDAQ: FLEX), Jabil Circuit Inc. (NYSE: JBL), and Sanmina-SCI Corporation (NASDAQ: SANM) all hang in the balance.  Unfortunately, the consumer move to Apple Inc. (NASDAQ: AAPL) and Apple’s use of Foxconn is another wildcard (even with its suicide problems) because much of the business goes in that direction.  Still, upside remains in some of these names as most of these companies get business from multiple sectors outside of technology manufacturing.

We have looked at the current share price along with recent share performance.  Also considered is the fundamental trends behind each, as well as the consensus price target from Thomson Reuters and current and forward price/earnings analysis.

Benchmark Electronics Inc. (NYSE: BHE) trades around $15.00 and the 52-week range is $12.01 to $20.24.  With an $870 million market value, this one trades at 17-times expected earnings and 15-times expected 2012 earnings.  Thomson Reuters has a mean price target objective of $14.90, indicating implied upside is non-existent.

Celestica Inc. (NYSE: CLS) trades around $8.00 and the 52-week range is $6.79 to $12.48, it is worth about $1.7 billion market value, this one trades at under 8-times expected earnings and slightly further under 8-times expected 2012 earnings. Thomson Reuters has a mean price target objective of $9.88, indicating implied upside of about 23%.

Flextronics (NASDAQ: FLEX) trades around $6.00, its 52-week range is $5.05 to $8.50, and it has a market cap of $4.3 billion, and .  With an $870 million market value.  Flextronics trades at 7-times expected earnings and about 5.6-times expected 2012 earnings. Thomson Reuters has a mean price target of $8.00, indicating implied upside of about 33%.

Jabil Circuit Inc. (NYSE: JBL) trades around $21.40 and the 52-week range is $13.94 to $23.09, so it is the least punished of the whole EMS lot.  Jabil has a market value of about $4.4 billion.  Its fiscal year is not until August, so its expected earnings multiple today is about 8.3-times expected earnings. Thomson Reuters has a mean price target of $23.73, indicating implied upside of about 10%.

Sanmina-SCI Corporation (NASDAQ: SANM) has a price of about $9.75 and the market value is just under $800 million.  Its 52-week range is $6.01 to $17.32.  Its fiscal year ends in September and it trades at a mere 6.7-times expected earnings. Thomson Reuters has a mean price target objective of $10.88, indicating implied upside of about 11%.

The achilles heel for these companies and their valuation is that all are international today and none of the group mentioned offer dividends to reward shareholders during the economic lull. 

The good news is that these companies add and contract with the global trends. A slower India and China are not helping, but Japan has been coming back on after last year’s earthquake and tsunami wiped out the Japanese growth story.  These companies are also tending to a poor European situation right now.  Most earnings estimates for the year have already come down in recent weeks, but the question is whether or not those have come down enough.

JON C. OGG

Advanced Micro Devices, Inc. (NYSE: AMD) Cut to Underperform at BofA/ML; Maintained Buy but cut target to $7 at Canaccord Genuity.
Amazon.com Inc. (NASDAQ: AMZN) Maintained Buy with $255 target at BofA/ML.
The Blackstone Group (NYSE: BX) Started as Neutral at Stern Agee.
Cardinal Health, Inc. (NYSE: CAH) named Bull of the Day at Zacks.
Celestica Inc. (NYSE: CLS) Started as Market Perform at BMO.
Dril-Quip, Inc. (NYSE: DRQ) Cut to Neutral at JPMorgan.
InterMune, Inc. (NASDAQ: ITMN) Reiterated Buy with $44 target at Canaccord Genuity.
Jabil Circuit Inc. (NYSE: JBL) Reiterated Buy and $24 target at Argus.
Kohlberg Kravis Roberts & Co. (NYSE: KKR) Started as Buy at Stern Agee.
ONEOK Partners. LP (NYSE: OKS) Raised to Outperform at Credit Suisse.
Valero Energy Corporation (NYSE: VLO) named as value stock of the day at Zacks.

JON C. OGG

Amazon, Inc. (NASDAQ: AMZN) is up 0.9% premarket to  $226.22, relative to a 52-week range of $151.40 – $244.00.

Avago Technologies Ltd. (NASDAQ: AVGO) is down 3.6% premarket to $33.25, relative to a 52-week range of $21.54 – $39.45.

Chesapeake Energy Corporation (NYSE: CHK) is up4.4% premarket to $29.00, relative to a 52-week range of $20.97 – $35.95.

Comtech Telecomm. Corp. (NASDAQ: CMTL) is up 2.4% premarket to  $28.55, relative to a 52-week range of $23.51 – $32.00.

Family Dollar Stores (NYSE: FDO) are down 1.3% to $53.50, relative to a 52-week range of $41.31 – $56.92.

Jabil Circuit, Inc. (NYSE: JBL) is up 9.3% premarket to $18.99, relative to a 52-week range of $13.17 – $23.09.

We have provided a quick hit on the news for each move and shown the reaction on each.

Adobe Systems Inc. (NASDAQ: ADBE) is simply giving back its gains today.  Shares closed yesterday at $30.95 and closed up 3.4% at $32.01 today, but the stock is down over 3% and back at $31.00 after earnings.  Earnings were ahead of plan as revenue rose 9% but this failed to create any move up.  This one traded over 1 million shares in the after-hours session.

AeroVironment, Inc. (NASDAQ: AVAV) managed to beat expectations and guide higher for the year.  Aerial unmanned small drones for surveillance must be good.  Shares were up over 10% in the after-hours session at $31.60.

American Software, Inc. (NASDAQ: AMSWA) is not exactly the biggest household name but it is higher after earnings.  Shares closed up 3% at $7.89 today and the after-hours session is up 4.5% at $8.25.  Be advised, if this holds it is above the $7.98 high of the last 52-weeks.

Asia Entertainment & Resources Ltd. (NASDAQ: AERL) announced that it authorized a regular semi-annual cash dividend of $0.10 per ordinary share and approved a share buyback plan of up to 2,000,000 ordinary shares on the open market.  SHares were up 2.9% today and the stock is up 12% at $6.30 in the after-hours.

Jabil Circuit, Inc. (NYSE: JBL) rose after announcing a share buyback plan of up to $200 million after beating earnings estimates.  Shares were up 1.49% at $19.13 in the after-hours on more than 500,000 shares since the close.

National Bank of Greece SA (NYSE: NBG) was up 5.2% at $1.40 today and shares are up another 5% or so at $1.49 right around the time of the Greek socialist governmental party won a vote of confidence…. After the effect and after the event, we show that the ADR of National Bank of Greece is actually in the red with a drop at -1.3% at $1.38 on last look.

JON C. OGG

Amerisafe, Inc. (NASDAQ: AMSF) Cut to Underperform as Bear of the Day at Zacks.
Apple Inc. (NASDAQ: AAPL) Maintained Outperform but cut target to $420 at Oppenheimer; Maintained Outperform; Zacks cautious on iPad3 launch.
Aruba Networks, Inc. (NASDAQ: ARUN) Started as Outperform at Morgan Keegan.
Becton Dickinson & Co. (NYSE: BDX) Reiterated Buy and Raised target to $96 at Argus.
Biogen Idec Inc. (NASDAQ: BIIB) Raised to Buy with $129 target at Deutsche Bank.
Corning Inc. (NYSE: GLW) Reiterated Buy and $26 target at Argus; Cut estimates at BofA/ML.
Forest Oil Corporation (NYSE: FST) Started as Outperform at Credit Suisse.
Jabil Circuit Inc. (NYSE: JBL) Cut to Strong Sell at S&P Equity Research (late-Monday).
Micron Technology, Inc. (NASDAQ: MU) Maintained Buy but cut estimates at BofA/ML.
Motorola Mobility (NYSE: MMI) Cut to Underperform at Credit Suisse.
Occidental Petroleum Corporation (NYSE: OXY) Started as Neutral at Credit Suisse.
Research in Motion Ltd. (NASDAQ: RIMM) Cut to Neutral at Credit Suisse.
Sears Holdings Corporation (NASDAQ: SHLD) rating cut to ‘B’ and outlook negative at Fitch.
SunPower Corporation (NASDAQ: SPWRA) Raised to Hold at Wunderlich.
SurModics, Inc. (NASDAQ: SRDX) Maintained Outperform as Bull of the Day at Zacks.
Synchronoss Technologies, Inc. (NASDAQ: SNCR) Added to Conviction Buy List at Goldman Sachs.
Wendy’s/Arby’s Group Inc. (NYSE: WEN) Raised to Hold at Argus.

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JON C. OGG

We have given a detailed preview on each, shown effective price data, and added in color if applicable.  It is amazing to see this many companies with earnings due.

Renren Inc, (NYSE: RENN) has been a pig of an IPO and we will get to see if this is just another China bash or if there is anything real under the hood on Monday.  Thomson Reuters has no estimates yet. Shares are trading around $6.92 and the 52-week trading range is $6.55 to $24.00.  Renren was touted as “The Facebook of China” but its stock and the scandal from right before the earnings turned it into “The Face$%^& of China.”

Adobe Systems Inc. (NASDAQ: ADBE) reports Tuesday and Thomson Reuters has estimates of $0.51 EPS and $994.79 million in revenues; next quarter estimates are $0.54 EPS and $1.02 million in revenues.  Shares are trading around $30.67 and the 52-week trading range is $25.45 to $35.99.

Barnes and Noble Inc. (NYSE: BKS) is interesting considering that it is at a premium to its implied buyout price.  Thomson Reuters has estimates of -$0.91 EPS and $1.39 billion in revenues; next quarter estimates are -$0.88 EPS and $1.45 billion in revenues.  Shares are trading around $20.00 and the 52-week trading range is $8.45 to $20.46.

A123 Systems, Inc. (NASDAQ: AONE) Cut to Sector Perform at Pacific Crest.
Barclays PLC (NYSE: BCS) Started as Outperform at Credit Suisse.
Boyd Gaming Corp. (NYSE: BYD) Raised to Neutral at JPMorgan.
Capstone Turbine Corporation (NASDAQ: CPST) Started as Outperform at FBR.
Citrix Systems, Inc. (NASDAQ: CTXS) Raised to Outperform as Bull of the Day at Zacks.
HSBC Holdings plc (NYSE: HBC) Started as Neutral at Credit Suisse.
Jabil Circuit Inc. (NYSE: JBL) Reiterated Focus List Buy with $24 target at Argus.
Lowe’s Companies Inc. (NYSE: LOW) Cut to Neutral at JPMorgan.
Louisiana-Pacific Corporation (NYSE: LPX) Cut to Neutral at BofA/ML.
MakeMyTrip Limited (NASDAQ: MMYT) Raised to Outperform at Oppenheimer.
MetroPCS Communications, Inc. (NYSE: PCS) Cut to Sector Perform at RBC.
ProLogis (NYSE: PLD) Started as Neutral at Credit Suisse.
Reynolds American Inc. (NYSE: RAI) Raised to Equal-Weight at Morgan Stanley.
Staples, Inc. (NASDAQ: SPLS) Named as Bear of the Day at Zacks.
Starbucks Corporation (NASDAQ: SBUX) Raised to Outperform at BMO.
Texas Instruments Inc. (NYSE: TXN) Started as Buy at ThinkEquity.

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JON C. OGG

Tuesday morning brings Carnival Corporation (NYSE: CCL). Thomson Reuters has estimates of $0.19 EPS and $3.31 billion in revenues; next quarter estimates are $0.33 EPS and $3.51 billion in revenues.  With shares around $40.75, its 52-week range is $29.68 to $48.14.

Dollar General Corporation (NYSE: DG) also reports Tuesday morning.  Thomson Reuters has estimates for the dollar-store giant of $0.59 EPS and $3.52 billion in revenues; next quarter estimates are $0.50 EPS and $3.40 billion in revenues.  At $30.30, its 52-week range is $24.29 to $33.73.

Jefferies Group Inc. (NYSE: JEF) is due to report on Tuesday morning and it is one investors look at more closely now that it avoided much of the market malaise during the meltdown. Thomson Reuters has estimates of $0.36 EPS and $636.79 million in revenues; next quarter estimates are $0.41 EPS and $671.1 million in revenues.  At $24.40, its 52-week range is $20.15 to $28.44.

Walgreen Co. (NYSE: WAG) is due with its drug store earnings Tuesday morning. Thomson Reuters has estimates of $0.80 EPS and $18.39 billion in revenues; next quarter estimates are $0.63 EPS and $18.25 billion in revenues.  At $41.84, its 52-week range is $26.26 to $47.11.

On Tuesday afternoon comes a report from Adobe Systems Inc. (NASDAQ: ADBE). Thomson Reuters has estimates for the Flash and Acrobat maker of $0.57 EPS and $1.03 billion in revenues; next quarter estimates are $0.57 EPS and $1.04 billion in revenues.  At $32.39, the 52-week trading range is $25.45 to $37.30.

Jabil Circuit Inc. (NYSE: JBL) also reports on Tuesday after the close.  Thomson Reuters has estimates of $0.51 EPS and $3.91 billion in revenues; next quarter estimates are $0.54 EPS and $4.04 billion in revenues.  AT $19.52. its 52-week range is $10.17 to $23.09.

Sonic Corporation (NASDAQ: SONC) reports earnings on Tuesday after the close and while it is not a sector-mover, it can be very volatile around earnings reports.  Thomson Reuters has estimates of $0.03 EPS and $114.6 million in revenues; next quarter estimates are $0.17 EPS and $143.19 million in revenues. At $9.18, its 52-week trading range is $7.28 to $13.11.