24/7 Wall St. » JOYG

Top Analyst Upgrades & Downgrades (AWK, BAC, BIP, CAT, C, CPO, DE, DMND, ECA, GPS, GOV, JOYG, JPM, OPEN, SSW, TXRH, USM, VLO)

Administrator — Wed, 02 Nov 2011 12:24:59 +0000

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

American Water Works Company, Inc. (NYSE: AWK) added to Strong Buy List at Zacks.
Bank of America Corporation (NYSE: BAC) Cut to Hold at S&P Capital IQ (late-Tuesday).
Brookfield Infrastructure Partners LP (NYSE: BIP) reinstated as Outperform with $32 target at Credit Suisse.
Caterpillar Inc. (NYSE: CAT) Started as Overweight at Morgan Stanley.
Citigroup, Inc. (NYSE: C) Cut to Hold at S&P Capital IQ (late-Tuesday).
Corn Products International (NYSE: CPO) named Value Stock of the Day at Zacks.
Deere & Co. (NYSE: DE) Started as Underweight at Morgan Stanley.
Diamond Foods, Inc. (NASDAQ: DMND) Cut to Neutral at BofA/ML; Cut to Neutral at Janney.
Encana Corporation (NYSE: ECA) Cut to Neutral at BofA/ML.
Gap Inc. (NYSE: GPS) Raised to positive at Susquehanna.
Government Properties Income Trust (NYSE: GOV) Cut to Neutral at Janney.
Joy Global, Inc. (NASDAQ: JOYG) Started as Equalweight at Morgan Stanley.
J.P. Morgan Chase & Co. (NYSE: JPM) Cut to Hold at S&P Capital IQ (late-Tuesday).
OpenTable, Inc. (NASDAQ: OPEN) Cut to Neutral at BofA/ML; Cut to Market Perform at Morgan Keegan; Raised to Buy at ThinkEquity.
Seaspan Corporation (NYSE: SSW) Cut to Hold at Deutsche Bank.
Texas Roadhouse Inc. (NASDAQ: TXRH) Cut to Neutral at Credit Suisse.
United States Cellular Corporation (NYSE: USM) Cut to Underweight at Morgan Stanley.
Valero Energy Corporation (NYSE: VLO) Reiterated Buy with $35 target at Argus.

We were also given a new updated list of the prized Gabelli Focus Five List showing that all five positions were new positions as special situation stocks that the firm feels are undervalued to the market expectations. This list outperformed in the last quarter and has significantly outperformed the S&P going back to the 2006 inception.

JON C. OGG

Filed under: Analyst Calls Tagged: AWK, BAC, BIP, C, CAT, CPO, DE, DMND, ECA, GOV, GPS, JOYG, JPM, OPEN, SSW, TXRH, USM, VLO

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

Caterpillar Crushes Estimates With Strong Guidance (CAT, DE, JOYG, CNH, AGCO, MOO)

Paul Ausick — Mon, 24 Oct 2011 13:35:44 +0000

Excluding the impacts of absorbing its recent acquisition of Bucyrus International, Inc., Caterpillar Inc. (NYSE: CAT) posted an all-time high in sales, revenue, and profits in the third quarter. Even with those impacts, Caterpillar managed to beat handily consensus estimates of revenue and profit. And the company expects to post revenue and profit at the high end of its previous estimates, even including the impact of the acquisition.Analysts were expecting EPS of $1.55 on revenue of $15.03 billion. Including Bucyrus, the company posted EPS of $1.71 on revenue of $15.72. Excluding Bucyrus, EPS came in at $1.93 on revenue of $14.58 billion.

Caterpillar has set a high bar for Deere & Co. (NYSE: DE), Joy Global Inc. (NASDAQ: JOYG), CNH Global NV (NYSE: CNH), and AGCO Corp. (NASDAQ: AGCO). Deere, which does not close its quarter until the end of November, is expected to post EPS of $1.43 on $7.83 billion in revenue. Joy Global’s quarter ends this month, and estimates are EPS of $1.86 on revenue of $1.35 billion. CNH reports earnings on Thursday, and consensus estimates call for EPS of $0.82 on revenue of $4.2 billion. AGCO reports earnings tomorrow and is expected to post EPS of $0.76 on revenue of $2.02 billion.

Looking ahead, Caterpillar raised its revenue guidance from $56-$58 billion to $58 billion, including about $2 billion from Bucyrus. EPS guidance was changed from $6.25-$6.75 to $6.75, including a negative impact of about $0.50 from the Bucyrus deal. The company hailed the recent passage of three free-trade agreements and “the growing understanding that we need to do something positive about infrastructure in the United States.” Needless to say, Caterpillar hopes to profit from both.

For 2012, Caterpillar continues to be optimistic. The company expects sales and revenues to increase by 10%-20%, much of which will come from Bucyrus. Caterpillar expects Bucyrus to boost total sales by about $5 billion next year. The company did not provide EPS guidance for 2012.

Of the company’s $1.14 billion in profit, more than 30% was attributed to a favorable exchange rate. The weaker US dollar clearly helped the company in the third quarter, but as the dollar gains strength profits could slow down. The company also reported weaker sales in China, and noted that sales rose in developed countries although total sales of new machines in developed countries “remain significantly below previous peak levels.”

Order backlog has climbed to an all-time high, and the company expects commodity prices to remain high enough to maintain current investment levels from Caterpillar’s customers. In developed countries, Caterpillar believes that deferred replacement of equipment will pick up modestly, while in developing countries the company expects more construction activity to drive additional sales. If sales in China continue to weaken, that may be a tough goal to reach.

Shares of Caterpillar are up about 5% a half hour before the market opens this morning, at $91.65 in a 52-week range of $67.54-$116.55. Deere is up more than 2.5%, at $74.10 in a 52-week range of $59.92-$99.80. Joy Global is up about 2.8%, at $84.10, in a 52-week range of $57.48-$103.44. The Market Vectors Agribusiness ETF (AMEX: MOO) is up about 1.5%, at $49.37, in a 52-week range of $39.86-$57.93.

Paul Ausick

Filed under: Agriculture, Earnings, Infrastructure Tagged: AGCO, CAT, CNH, DE, JOYG, MOO

Top Active Trader Alert Stocks (BIDU, DRYS, F, JOYG)

247wallst — Wed, 31 Aug 2011 12:47:39 +0000

Active traders and day traders have many stocks to choose from this Wednesday morning. We are tracking news and moves in shares of Baidu, Inc. (NASDAQ: BIDU), DryShips, Inc. (NASDAQ: DRYS), Ford Motor Company (NYSE: F), and Joy Global, Inc. (NASDAQ: JOYG).

Baidu, Inc. (NASDAQ: BIDU) is up 2% premarket on moderate volume to $151.50, relative to a 52-week range of $76.04 – $165.96.

DryShips, Inc. (NASDAQ: DRYS) is down nearly 9% premarket to $2.87, relative to a 52-week range of $2.19 – $6.44. The company reported 2Q earnings of 4 cents per share, compared to Wall St. estimates of 16 cents per share.

Ford Motor Company (NYSE: F) is up 1.5% premarket to $11.03, relative to a 52-week range of $9.81-$18.97.

Joy Global, Inc. (NASDAQ: JOYG) is up nearly 4% premarket to $85.79, relative to a 52-week range of $55.33 – $103.44. The company issued favorable earnings and FY11 revenue guidance.

Filed under: General Tagged: BIDU, DRYS, F, JOYG

The Week’s Market Losers (CSC, PXD, HP)

247wallst — Sat, 07 May 2011 14:59:41 +0000

S&P 500 WEEK: BOTTOM 10 (29 APR – 5 MAY)	Ticker	Weekly Price Change (%)	Close Price 5May11	Close Price 29Apr11	Market Cap ($Mil)
Computer Sciences Corp	CSC	-14.7	43.47	50.98	6741.8
Pioneer Natural Resources Co	PXD	-13.2	88.71	102.23	10359.9
Helmerich & Payne Inc.	HP	-11.9	58.43	66.34	6228.4
Murphy Oil Corp	MUR	-11.5	68.57	77.48	13262.3
Joy Global Inc	JOYG	-11.1	89.78	100.95	9407.8
Hess Corp	HES	-11.0	76.52	85.96	25967.7
Quanta Services Inc.	PWR	-10.8	19.33	21.68	4092.9
Tesoro Corp	TSO	-10.5	24.27	27.12	3477.3
National Oilwell Varco Inc	NOV	-10.4	68.70	76.69	29057.2
Harris Corp	HRS	-10.3	47.64	53.13	6094.8
Source: Capital IQ

Filed under: Research Tagged: CSC, HP, JOYG, MUR, PXD

Top Analyst Upgrades & Downgrades (AMZN, ACAS, AINV, ACI, BMRN, COF, CSCO, EMR, FSLR, IACI, IBM, JOYG, LXK, PNRA, SWC, TSM, WYNN)

Administrator — Wed, 27 Apr 2011 12:23:24 +0000

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

Amazon.com, Inc. (NASDAQ: AMZN) Reiterated Outperform and raised target to $220 at Oppenheimer; Reiterated Buy with $198 target at BofA/ML; Maintained Buy with $220 target at Canaccord Genuity.
American Capital, Ltd. (NASDAQ: ACAS) Raised to Outperform at Wells Fargo.
Apollo Investment Corporation (NASDAQ: AINV) Cut to Market Perform at Wells Fargo.
Arch Coal Inc. (NYSE: ACI) Cut to Sell at S&P Equity Research (late-Tuesday call).
BioMarin Pharmaceutical (NASDAQ: BMRN) Cut to Neutral as Bear of the Day at Zacks.
Capital One Financial Corp. (NYSE: COF) Maintained Buy but raised target to $65 at BofA/ML.
Cisco Systems, Inc. (NASDAQ: CSCO) Maintained Neutral but cut target to $22 at BofA/ML.
Emerson Electric Co. (NYSE: EMR) Raised to Outperform at Oppenheimer.
First Solar, Inc. (NASDAQ: FSLR) Raised to Buy at Kaufman Bros.
IAC/InterActiveCorp. (NASDAQ: IACI) Raised to Buy at Citigroup; Raised target to $39 at BofA/ML.
International Business Machines Corp. (NYSE: IBM) Reiterated Buy and Raised target to $190 at Argus.
Joy Global, Inc. (NASDAQ: JOYG) Maintained Outperform as Bull of the Day at Zacks.
Lexmark International Inc. (NYSE: LXK) Cut to Hold at Citigroup.
Panera Bread Company (NASDAQ: PNRA) Maintained Neutral but raised target to $135 at BofA/ML
Stillwater Mining Company (NYSE: SWC) Reiterated Outperform and $28 target at Credit Suisse.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) Raised to Conviction Buy List at Goldman Sachs.
Wynn Resorts Ltd. (NASDAQ: WYNN) Maintained Buy at Zacks.

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: ACAS, ACI, AINV, AMZN, BMRN, COF, CSCO, EMR, FSLR, IACI, IBM, JOYG, LXK, PNRA, SWC, TSM, WYNN

Mining Win: Joy Today, Joy Ahead (JOYG, CAT, BUCY, BHP, VALE, RIO, XSRAY, AAUKY)

Administrator — Wed, 15 Dec 2010 16:42:15 +0000

The demand for metals and minerals of all kinds is pushing up sales and profits in the makers of the equipment used to extract the commodities. Joy Global, Inc. (NASDAQ: JOYG) reported earnings for its fourth fiscal quarter, and the company’s results and guidance are driving its shares higher this morning.

Joy Global reported EPS of $1.39 for the quarter, compared with estimates of $1.16. Profit rose from $124 million in the same period a year ago to $146.3 million this year, a boost of 18%. Revenue also rose 8.9%, to $1.05 billion, compared with estimates of $922.8 million. Competitor Caterpillar Inc. (NYSE: CAT) earlier reported better-than-expected earnings for its quarter ended in September, although Bucyrus Interntional, Inc. (NASDAQ: BUCY) missed earnings estimates in its most recent quarter. Bucyrus has agreed to be acquired by Caterpillar in a deal worth $7.6 billion.

For 2011, Joy Global projected EPS of $5-$5.30 on revenue between $3.9 and $4.1 billion. Previous estimates from analysts had projected 2011 EPS of $4.79 on revenue of $3.86 billion.

Joy Global’s CEO told the Financial Times that the equipment maker is “entering the earlier stages of another multiyear expansion of the industry.” Miners including BHP Billiton Ltd. (NYSE: BHP), Vale SA (NYSE: VALE), Rio Tinto plc (NYSE: RIO), Xstrata plc (OTC: XSRAY), and Anglo American plc (OTC: AAUKY) expect to invest as much as $120 billion in 2011 to boost production.

Even better for the mining equipment makers is that the miners are front-loading orders for new equipment in an attempt to guarantee delivery of new equipment and to get better pricing. Some miners are also agreeing to longer-term supply contracts with equipment makers in exchange for the guarantees and pricing.

Investors are piling into the sector, expecting higher profits and, perhaps even better, more mergers and acquisitions of both publicly-traded and private equipment manufacturers.

The danger to all this growth, at least from the miners point of view, is that costs will rise almost uncontrollably. Wages, inflation, and long lead times to develop new supplies could combine to constrain their response the greater demand. That will drive commodities prices even higher. Miners remember all too well the problems that occurred in 2008,leading to their inability to acquire the huge tires they needed for the enormous ore trucks. For want of a nail…

So while the miners might struggle a bit, the equipment makers, like Joy Global, are expected to prosper. The company’s stock is up about 8% following its earnings report, while Caterpillar stock is up about 3%.

Paul Ausick

Filed under: Earnings, Metals Tagged: AAUKY, BHP, BUCY, CAT, JOYG, RIO, VALE, XSRAY

Top Active Trader Alert Stocks (ARAY, BSDM, CYPB, JOYG)

247wallst — Wed, 15 Dec 2010 13:52:23 +0000

Active traders and day traders have many stocks to choose from this Wednesday morning. We are tracking news and moves in shares of Acuray Incorporated, Inc. (NASDAQ: ARAY), BSD Medical corporation (NASDAQ: BSDM), Cypress Bioscience (NASDAQ: CYPB), and Joy Global Inc (NASDAQ: JOYG).

Acuray Incorporated, Inc. (NASDAQ: ARAY) is up 9.92% premarket to $6.87, relative to a 52-week range of $5.36-$7.75.

BSD Medical corporation (NASDAQ: BSDM) is down 5.35% to $5.00, losing some ground after a massive gain yesterday.

Cypress Bioscience (NASDAQ: CYPB) is up 13% on very heavy volume to $6.47 relative to a 52-week range of $2.06-$6.28. It was just announced that the stock would be purchased by Ramius LLC.

Joy Global Inc (NASDAQ: JOYG) is up 5.35% to $84.50, relative to a 52-week range of $42.45-$81.85.

Filed under: General Tagged: ARAY, BSDM, CYPB, JOYG

Top Analyst Upgrades and Downgrades (BHP, BUCY, CAT, KO, CREE, DPS, INTU, JOYG, KMB, NLST, PEP, POT, SNH, CODE, TCO)

Administrator — Tue, 16 Nov 2010 13:02:22 +0000

These are some of this Tuesday’s key analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

BHP Billiton plc (NYSE: BHP) Started as Buy at Goldman Sachs.
Bucyrus International (NASDAQ: BUCY) Cut to Neutral at Baird; Cut to Neutral at Sterne Agee; Cut to Hold at Jefferies.
Caterpillar Inc. (NYSE: CAT) Raised to Outperform at Raymond James.
The Coca-Cola Company (NYSE: KO) Started as Outperform at Bernstein.
Cree Inc. (NASDAQ: CREE) Raised to Outperform at Morgan Keegan.
Dr. Pepper Snapple (NYSE: DPS) Started as Outperform at Bernstein.
Intuit Inc. (NASDAQ: INTU) Reiterated Buy and Raised Target to $54 at BofA/ML.
Joy Global, Inc. (NASDAQ: JOYG) Cut to Neutral at Sterne Agee.
Kimberly-Clark Corporation (NYSE: KMB), a stock to own for the next decade, Started as Hold at Jefferies.
Netlist Inc. (NASDAQ: NLST) Cut to Hold at Needham.
PepsiCo, Inc. (NYSE: PEP) Started At Outperform By Bernstein >PEP
Potash Corp. of Saskatchewan (NYSE: POT) Raised to Sector Outperform at CIBC.
Senior Housing Properties Trust (NYSE: SNH) Raised to Buy at Jefferies.
Spansion Inc. (NASDAQ: CODE) Started as Buy at Needham.
Taubman Centers. Inc. (NYSE: TCO) Raised to Outperform at Credit Suisse.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: BHP, BUCY, CAT, CODE, CREE, DPS, INTU, JOYG, KMB, KO, NLST, PEP, POT, SNH, TCO

Bucyrus Buyout: Flurry of Sector Interest (BUCY, CAT, JOYG, TEX, MTW)

Administrator — Mon, 15 Nov 2010 13:34:38 +0000

The day has come for Bucyrus International Inc. (NASDAQ: BUCY). Caterpillar Inc. (NYSE: CAT) has announced that it will expand its mining equipment operations and product offerings with the acquisition of Bucyrus. The deal is valued at $8.6 billion after the inclusion of debt. Bucyrus shareholders will receive $92.00 per share, which is about $7.6 billion in aggregate consisting of all cash in a deal representing a 32% premium to Friday’s close.

Caterpillar will fund the acquisition through a combination of cash from the balance sheet, debt and up to $2 billion in equity. Caterpillar has noted that its mining customers have been asking it to expand the range of products and services to better serve their increasingly complex requirements.

Bucyrus is soaring by almost 30% at $90.35 in active trading. What is interesting is that investors are treating this potentially as the first of several consolidation prospects in the mining equipment sector. If you look at the Bucyrus competitors and others in the mining equipment space, the moves speak for themselves:

Joy Global, Inc. (NASDAQ: JOYG) is indicated up over 7% at $77.88; the 52-week range is (was) $42.45 to $76.72.

Terex Corp. (NYSE: TEX) is up over 8% at $26.40; its 52-week range is $16.79 to $28.71.

Manitowoc Co. Inc. (NYSE: MTW) is up over 4% at $11.67; its 52-week range is $8.48 to $16.43.

Bucyrus designs and makes equipment for mining of coal, copper, oil sands, iron ore, and other minerals in mining centers worldwide. The deal is apparently the largest of Caterpillar’s of the sort, although this is an easy integration for the company as Caterpillar had a market cap in excess of $48 billion. Caterpillar shares are down 1.9% at $79.47 versus a 52-week range of $50.50 to $83.84.

JON C. OGG

Filed under: Agriculture, Mergers and Buy Outs, Metals Tagged: BUCY, CAT, JOYG, MTW, TEX