24/7 Wall St. » LVLT

24/7 Wall St. Closing Bell (CHK, LVLT, QCOM, CRM, DSX, COCO, APA, WNR, YRCW, SHOO, SRE, SLE, RGLD, OWW, GM, MGM, AES, LNG, DUK, EL, PGR, WPO, GMCR, KNSY, HLF)

Paul Ausick — Thu, 03 May 2012 20:08:03 +0000

The major US stock indexes opened mostly flat this morning following a softer-than-expected report from the Institute for Supply Management on non-manufacturing growth (our coverage here). The report on new unemployment benefits claims came in better than expected, but not enough to overcome the ISM numbers (more coverage here). Retail sales reports were also weak, with growth of just 0.8% compared with an estimate of 1.5% (more coverage here). The energy sector has been particularly hard hit today on reports that supply is keeping up with demand, some weak earnings reports, and a comment from OPEC that it would like to see Brent crude at $100/barrel, not $120 or more (our coverage here).

The US dollar index rose today, now up 0.11% at 79.221. The GSCI commodity index is down about -1.3% at 678.65, with commodities mixed on the small gains in the dollar. WTI crude oil closed down -2.6% at $102.54/barrel, and Brent crude trades down -1.84% at $116.02/barrel. Gold settled down -1.2% today, at $1,634.80/ounce.

The unofficial closing bells put the DJIA down nearly 62 points to 13,206.59 (-0.47%), the NASDAQ fell more than 35 points (-01.16%) to 3,024.30, and the S&P 500 fell -0.77% or nearly 11 points to 1,391.57.

There were several analyst upgrades and downgrades today, including Chesapeake Energy Corp. (NYSE: CHK) maintained as ‘buy’ but target price cut to $31 at BofA/ML and raised to ‘outperform’ at Bernstein; Level 3 Communications Inc. (NYSE: LVLT) reiterated ‘buy’ at SunTrust Robinson Humphrey and cut to ‘neutral’ at Piper Jaffary; Qualcomm Inc. (NASDAQ: QCOM) reiterated as ‘buy’ at BofA/ML; and Salesforce.com (NYSE: CRM) raised to ‘outperform’ with a $185 target price at Credit Suisse.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Diana Shipping Inc. (NYSE: DSX) is down -4.4% at $7.63; Corinthian Colleges Inc. (NASDAQ: COCO) is down -21.6% at $3.05; Apache Corp. (NYSE: APA) is down -3.7% at $91.99; Western Refining Inc. (NYSE: WNR) is down -2.6% at $18.42; YRC Worldwide Inc. (NASDAQ: YRCW) is down -8% at $6.79; Steve Madden Ltd. (NASDAQ: SHOO) is down -1.7% at $43.54; Sempra Energy (NYSE: SRE) is up 0.6% at $64.29 after posting a new 52-week high of $65.37 earlier today; Sara Lee Corp. (NYSE: SLE) is down -1% at $22.10; Royal Gold Inc. (NASDAQ: RGLD) is down -2.6% at $59.43 (more coverage here); Orbitz Worldwide Inc. (NYSE: OWW) is up 4.9% at $4.09; General Motors Co. (NYSE: GM) is down -2.3% at $22.42 (more coverage here); and MGM Resorts International (NYSE: MGM) is down -4.4% at $12.95.

Tomorrow we get earnings from AES Corp. (NYSE: AES), Cheniere Energy Inc. (AMEX: LNG), Duke Energy Corp. (NYSE: DUK), Estee Lauder Companies Inc. (NYSE: EL), Progressive Corp. (NYSE: PGR), and The Washington Post Co. (NYSE: WPO).

Other standouts from today include the following stocks:

Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) is down -47.3% at $26.11. The company reported earnings last night, and lowered guidance. More coverage here and here.

Kensey Nash Corp. (NASDAQ: KNSY) is up 32.2% at $38.35. The company is being acquired by a Dutch firm for $360 million. More coverage here.

Herbalife Ltd. (NYSE: HLF) is down -12.7% at $46.02. The nutrition products company flubbed some questions at last night’s conference call. More coverage here.

Stay tuned for Friday. San Francisco Fed President John Williams is giving a speech. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Non-farm payrolls
3:00 p.m. – Treasury STRIPS

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AES, APA, CHK, COCO, CRM, DSX, DUK, EL, GM, GMCR, HLF, KNSY, LNG, LVLT, MGM, OWW, PGR, QCOM, RGLD, SHOO, SLE, SRE, WNR, WPO, YRCW

Top Analyst Upgrades & Downgrades (ALGN, BHI, CACI, CAB, CHK, DVA, GMCR, LVLT, MSCI, ONXX, PCLN, QCOM, QIHU, CRM, TTM)

Administrator — Thu, 03 May 2012 12:18:17 +0000

These are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Thursday.

Align Technology, Inc. (NASDAQ: ALGN) named Bull of the Day at Zacks.

Baker Hughes, Inc. (NYSE: BHI) named Bear of the Day at Zacks.

CACI International. Inc. (NYSE: CACI) Cut to Neutral with $53 target at Credit Suisse.

Cabela’s, Inc. (NYSE: CAB) reiterated Strong Buy and named as value stock of the day at Zacks.

Chesapeake Energy Corporation (NYSE: CHK) maintained Buy but cut target to $31 from $38 at BofA/ML; Raised to Outperform at Bernstein.

DaVita Inc. (NYSE: DVA) Cut to Neutral at R.W. Baird.

Green Mountain Coffee Roasters (NASDAQ: GMCR) Cut to Neutral at SunTrust Robinson Humphrey; Cut to Neutral at Piper Jaffray.

Level 3 Communications Inc. (NASDAQ: LVLT) Reiterated Buy with $37.50 target at BofA/ML.

MSCI Inc. (NYSE: MSCI) Raised to Outperform with $42 target at Credit Suisse.

Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) maintained Buy but removed from Conviction Buy List at Goldman Sachs.

Priceline.com (NASDAQ: PCLN) reiterated Strong Buy and named the Aggressive Growth stock of the day at Zacks.

QUALCOMM Inc. (NASDAQ: QCOM) Reiterated Buy at BofA/ML.

Qihoo 360 Technology Co. Ltd (NYSE: QIHU) Started as Buy at Jefferies.

Salesforce.com Inc. (NASDAQ: CRM) Raised to Outperform with $185 target at Credit Suisse.

Tata Motors Ltd. (NYSE: TTM) Started as Overweight at HSBC.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

JON C. OGG

Filed under: Analyst Calls Tagged: ALGN, BHI, CAB, CACI, CHK, CRM, DVA, featured, GMCR, LVLT, MSCI, ONXX, PCLN, QCOM, QIHU, TTM

Top Analyst Upgrades & Downgrades (AMD, AIXG, CELG, DNDN, DLR, EBAY, ICE, JOY, LVLT, NSC, RSH, BOX, VECO)

Administrator — Thu, 15 Mar 2012 12:27:39 +0000

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

Advanced Micro Devices, Inc. (NYSE: AMD) Raised to Buy at Jefferies.

Aixtron SE (NASDAQ: AIXG) Raised to Buy at Deutsche Bank.

Celgene Corporation (NASDAQ: CELG) Started as Buy at Stifel Nicolaus.

Dendreon Corporation (NASDAQ: DNDN) Started as Hold at Stifel Nicolaus.

Digital Realty Trust (NYSE: DLR) Cut to Hold at Jefferies.

eBay Inc. (NASDAQ: EBAY) Cut to Neutral at Credit Suisse.

IntercontinentalExchange, Inc. (NYSE: ICE) named Bull of the Day at Zacks.

Joy Global, Inc. (NYSE: JOY) Cut to Neutral at UBS.

Level 3 Communications, Inc. (NASDAQ: LVLT) Raised to Buy at BofA/ML.

Norfolk Southern Corporation (NYSE: NSC) Cut to Equal Weight at Barclays.

RadioShack Corporation (NYSE: RSH) named Bear of the Day at Zacks.

SeaCube Container Leasing Limited (NYSE: BOX) named as value stock of the day at Zacks.

Veeco Instruments Inc. (NASDAQ: VECO) Raised to Buy at Deutsche Bank.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AIXG, AMD, BOX, CELG, DLR, DNDN, EBAY, ICE, JOY, LVLT, NSC, RSH, VECO

24/7 Wall St. Top Analyst Calls of the Week (BX, APO, CMA, DELL, DANG, EXM, FSLR, GILD, LVLT, ERIC, MAR, ORCL, SUN, VVUS, WBMD)

Administrator — Sat, 25 Feb 2012 12:31:18 +0000

Each weekend we review the many analyst calls we track during the week. Some turn out to be very insightful and some turn out to be not so great. For better or worse, these become the top analyst calls of the week.

The top calls in the last week were seen in the following: The Blackstone Group LP (NYSE: BX); Apollo Global Management, LLC (NYSE: APO); Comerica Inc. (NYSE: CMA); Dell Inc. (NASDAQ: DELL); E-commerce China Dangdang Inc. (NYSE: DANG); Excel Maritime Carriers (NYSE: EXM); First Solar, Inc. (NASDAQ: FSLR); Gilead Sciences Inc. (NASDAQ: GILD); Level 3 Communications Inc. (NASDAQ: LVLT); LM Ericsson Telephone Company (NASDAQ: ERIC); Marriott International, Inc. (NYSE: MAR); Oracle Corporation (NASDAQ: ORCL); Sunoco, Inc. (NYSE: SUN); VIVUS, Inc. (NASDAQ: VVUS); WebMD Health Corporation (NASDAQ: WBMD). We have added in color and summaries on each.

The Blackstone Group LP (NYSE: BX) hardly budged this week. The private equity leader was raised to Buy at Goldman Sachs and the price target was $19.00. That gave almost 20% upside. In the private equity upgrade was also Apollo Global Management, LLC (NYSE: APO) with a price target of $17.50 for another 20% upside or so.

Comerica Inc. (NYSE: CMA) had a bad week, and it seemed to all get that bad mojo after the stock was downgraded to Sell at Stifel Nicolaus for close to a 4% loss all in all.

Dell Inc. (NASDAQ: DELL) took two downgrades on valuation after earnings failed to offer much continued inspiration: Cut to Neutral at Citigroup; Cut to Hold at Needham.

E-commerce China Dangdang Inc. (NYSE: DANG) was a bit of an “Oops” this last week. The e-commerce site in China saw its rating Raised to Outperform at Credit Suisse on Wednesday. Shares tanked the next day and the stock was down almost 10% at one point the following day. As the casino boss says after they clean you out, “Thanks for playing and better luck next time!”

Excel Maritime Carriers (NYSE: EXM) has already been slapped silly, and its rating was cut down to Underperform by Zacks after already being down over 60% in the last year. The global shipping market is just not yet coming back into favor with many analysts.

First Solar, Inc. (NASDAQ: FSLR) was cut to Neutral at Susquehanna. While not a huge surprise for a downgrade any longer, this was just before earnings are due and shares closed down over 4% at $35.58 on Friday.

Gilead Sciences Inc. (NASDAQ: GILD) is now much less in favor since its hepatitis C treatment appears to be far less active than previously thought. We saw two more downgrades this last week: Cut to Market Perform at Bernstein; Cut to Equal-weight at Barclays.

Level 3 Communications Inc. (NASDAQ: LVLT) was an incredible mover on Thursday after the communications player was raised to Overweight at Morgan Stanley. Shares rose well over 10% on Thursday and we have an analysis on its move.

LM Ericsson Telephone Company (NASDAQ: ERIC) does not get many upgrades, so it was interesting that the telecom equipment player was raised to Overweight at JPMorgan on Thursday. Shares gapped up, closed up even higher on Thursday, and shares rose almost another 2% on Friday for a total gain of over 5%.

Marriott International, Inc. (NYSE: MAR) is not at the 52-week high like so many stocks, but it was Raised to the highly prized Conviction Buy List at Goldman Sachs. The price target is $42.00 and that leaves plenty of implied upside from the $34.73 price on Friday.

Oracle Corporation (NASDAQ: ORCL) is almost right back up to where it was before it the bottom was yanked out from under it after its poor earnings. Apparently that is a concern to at least one… Early in the week this one was downgraded to Market Perform from Market Outperform at JMP Securities now that the stock has run from under $26 to over $29 since the start of 2012.

Sunoco, Inc. (NYSE: SUN) is into refining, so higher and higher gas prices do not really help the outfit. This was not just downgraded to Underperform by Zacks Investment Research on Friday, it was named as Bear of the Day at Zacks.

VIVUS, Inc. (NASDAQ: VVUS) was a total home run this last week and analysts were forced to chase it higher and higher after the FDA panel recommended that Qnexa get FDA marketing approval to combat weight loss. After the news came the following calls: reiterated Outperform but raised target to $36.00 at Credit Suisse; Raised to Hold at Brean Murray; Raised to Outperform at Leerink Swann; and Raised to Market Outperform at Rodman & Renshaw.

WebMD Health Corporation (NASDAQ: WBMD) had another bad week after dropping from almost $27.50 down to almost $25.00 after warning that it could face a loss for the year. Some analysts just expect more pain or cannot take any more pain here with the stock down over 50% from its 52-week high. S&P Capital IQ cut the rating to Strong Sell from Sell, and Raymond James cut the rating down to Market Perform from Outperform.

If you enjoyed the top analyst calls of the week, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls, Research, The Week Tagged: APO, BX, CMA, DANG, DELL, ERIC, EXM, FSLR, GILD, LVLT, MAR, ORCL, SUN, VVUS, WBMD

24/7 Wall St. Closing Bell (CHK, LVLT, TJX, HPQ, JNPR, ANGI, SAM, CBOU, DRYS, FLS, FLR, GDP, KBR, AMT, BBG, CTHR, DDS, DISH, FWLT, OMX, TGT, VVUS, ONVI, SHLD, PVA, GTI)

Paul Ausick — Thu, 23 Feb 2012 21:06:35 +0000

After a flat opening this morning, markets turned down before reversing course in mid-morning to return to positive territory, where they spent the rest of the day. A good report on new US jobless claims and a report on housing prices showed a gain of 0.7% in the last quarter of 2011. Doubts about whether or not Greece would be able (or willing) to meet its commitments held European markets down and hampered what might have been larger gains today. The US oil inventory report showed a build of 1.6 million barrels, but the larger-than-expected gain didn’t slow oil price gains. WTI crude is up 1.51% at $107.89/barrel and Brent crude is up 0.64% at $123.69/barrel. Gold settled up 0.9% at $1,786.30, its highest finish in three months.

The unofficial closing bells put the DJIA up more than 46 points to 12,984.91 (0.36%), the NASDAQ rose nearly 24 points (0.81%) to 2,956.98, and the S&P 500 rose 0.43% or nearly 6 points to 1,363.46.

There were several analyst upgrades and downgrades today, including Chesapeake Energy Corp. (NYSE: CHK) reiterated as ‘neutral’ at Credit Suisse; Level 3 Communications Inc. (NASDAQ: LVLT) raised to ‘overweight’ at Morgan Stanley; TJX Companies Inc. (NYSE: TJX) reiterated as ‘hold’ at Argus; Hewlett-Packard Co. (NYSE: HPQ) reiterated as ‘neutral’ at Credit Suisse; and Juniper Networks Inc. (NASDAQ: JNPR) cut to ‘market perform’ at FBR.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Angie’s List Inc. (NASDAQ: ANGI) is up 10.10% at $15.92; Boston Beer Company Inc. (NYSE: SAM) is down -4.5% at $99.88; Caribou Coffee Co. Inc. (NASDAQ: CBOU) is down -1.8% at $17.28; DryShips Inc. (NASDAQ: DRYS) is up 6.7% at $3.67; Flowserve Corp. (NYSE: FLS) is up 2.8% at $121.08; Fluor Corp. (NYSE: FLR) is up 6.2% at $64.11; Goodrich Petroleum Corp. (NYSE: GDP) is down -4.4% at $16.07; Hewlett Packard is down -6.4% at $27.08; KBR Inc. (NYSE: KBR) is up 9.1% at $36.01; American Tower Corp. (NYSE: AMT) is up 0.68% at $63.69; Bill Barrett Corp. (NYSE: BBG) is down -0.5% at $27.77; Charles & Colvard Ltd (NASDAQ: CTHR) is up 22.3% at $3.73 after posting a new 52-week high of $3.99 earlier today; Dillard’s Inc. (NYSE: DDS) is up 10.6% at $57.73; Dish Network Inc. (NASDAQ: DISH) is up 1.5% at $29.60 (more coverage here); Foster Wheeler AG (NASDAQ: FWLT) is up 7.5% at $25.58; Officemax Inc. (NYSE: OMX) is up 7.25% at $5.92; and Target Corp. (NYSE: TGT) is up 3.5% at $54.80 (more coverage here).

Other standouts from today include the following stocks:

Vivus Inc. (NASDAQ: VVUS) is up nearly 80% at $18.93 after posting a new 52-week high of $21.44 earlier. The drug maker yesterday received an FDA panel approval for its obesity drug. More coverage here, here, and here.

Onvia Inc. (NASDAQ: ONVI) is up about 34% at $4.21. The government contractor service provider has rejected a buyout bid at $4.25/share, boosting hopes of a bidding war.

Sears Holdings Corp. (NASDAQ: SHLD) is up nearly 19% at $61.93. The retailer reported an enormous loss, but also announced plans to pare down the company. More coverage here.

Penn Virginia Corp. (NYSE: PVA) is down nearly -15% at $4.92. The independent oil & gas company missed EPS estimates badly, and lowered its production forecast for 2012.

GrafTech International Ltd. (NYSE: GTI) is down more than -15% at $13.07. Volume is more than 10x the daily average of 1 million shares traded. The industrial products company reported a big revenue miss this morning.

Stay tuned for Friday. St. Louis Fed president James Bullard and New York Fed president William Dudley are giving speeches. We have noted the following events on the schedule (all times Eastern):

9:55 a.m. – Reuters/University of Michigan consumer sentiment index
10:00 a.m. – New home sales

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AMT, ANGI, BBG, CBOU, CHK, CTHR, DDS, DISH, DRYS, FLR, FLS, FWLT, GDP, GTI, HPQ, JNPR, KBR, LVLT, OMX, ONVI, PVA, SAM, SHLD, TGT, TJX, VVUS

Top Analyst Upgrades & Downgrades (BRCD, CAB, CHK, CEO, EXM, HPQ, JNPR, LVLT, ERIC, MELI, PTR, POOL, TJX, VVUS)

Administrator — Thu, 23 Feb 2012 13:25:15 +0000

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

Brocade Communications Systems Inc. (NASDAQ: BRCD) Reiterated Hold at Argus.
Cabela’s, Inc. (NYSE: CAB) named as value stock of the day at Zacks.
Chesapeake Energy Corporation (NYSE: CHK) Reiterated Neutral at Credit Suisse.
CNOOC Ltd (NYSE: CEO) Cut to Neutral at Credit Suisse.
Excel Maritime Carriers (NYSE: EXM) Cut to Underperform as Bear of the Day at Zacks.
Hewlett-Packard Co. (NYSE: HPQ) Reiterated Neutral at Credit Suisse.
Juniper Networks Inc. (NYSE: JNPR) Cut to Market Perform at FBR.
Level 3 Communications Inc. (NASDAQ: LVLT) Raised to Overweight at Morgan Stanley.
LM Ericsson Telephone Company (NASDAQ: ERIC) Raised to Overweight at JPMorgan.
MercadoLibre (NASDAQ: MELI) Cut to Neutral at JPMorgan.
PetroChina Company Limited (NYSE: PTR) Raised to Outperform at Credit Suisse.
Pool Corporation (NASDAQ: POOL) named Bull of the Day at Zacks.
TJX Companies Inc. (NYSE: TJX) Reiterated Hold at Argus.
VIVUS, Inc. (NASDAQ: VVUS) reiterated Outperform but raised target to $36.00 at Credit Suisse; Raised to Hold at Brean Murray.

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: BRCD, CAB, CEO, CHK, ERIC, EXM, HPQ, JNPR, LVLT, MELI, POOL, PTR, TJX, VVUS

Top Earnings Previews For Wednesday (AKAM, CSCO, CSC, ENB, GRPN, IM, ICE, LVLT, MCO, NWSA, PNG, PAA, PRU, RL, RAI, S, TWX, VICL, V, WFM)

Administrator — Tue, 07 Feb 2012 18:30:51 +0000

We are entering into the last waves of the normalized quarterly earnings reports for companies with December 31 quarter-end dates, and we are entering the first waves of the earnings reports from companies with off-normal quarter-ends. Wednesday is going to be another busy day with many earnings.

The earnings previews are for the following: Akamai Technologies, Inc. (NASDAQ: AKAM); Atmel Corporation (NASDAQ: ATML); Cisco Systems Inc. (NASDAQ: CSCO); Computer Sciences Corporation (NYSE: CSC); Enbridge Inc. (NYSE: ENB); Groupon Inc. (NASDAQ: GRPN); Ingram Micro Inc. (NYSE: IM); IntercontinentalExchange Inc. (NYSE: ICE); Level 3 Communications Inc. (NASDAQ: LVLT); Moody’s Corporation (NYSE: MCO); News Corp. (NASDAQ: NWSA); PAA Natural Gas Storage L.P. (NYSE: PNG); Plains All American Pipeline L.P. (NYSE: PAA); Prudential Financial Inc. (NYSE: PRU); Ralph Lauren Corporation (NYSE: RL); Reynolds American Inc. (NYSE: RAI); Sprint Nextel Corporation (NYSE: S); Time Warner Inc. (NYSE: TWX); Vical Inc. (NASDAQ: VICL); Visa Inc. (NYSE: V); and Whole Foods Market Inc. (NASDAQ: WFM).

We have compiled earnings preview on each company using Thomson Reuters consensus estimates and added color on each if applicable. Some are market moving, some are sector moving, and some are just interesting for traders to watch around the earnings reports.

Akamai Technologies, Inc. (NASDAQ: AKAM) has estimates of $0.40 EPS and $311.26 million in revenues.

Atmel Corporation (NASDAQ: ATML) has estimates of $0.09 EPS and $401.5 million in revenues. Growth is gone, but it still screens as value.

Cisco Systems Inc. (NASDAQ: CSCO) has estimates of $0.43 EPS and $11.23 billion in revenues. Preliminary preview notes are available.

Computer Sciences Corporation (NYSE: CSC) has estimates of $0.58 EPS and $3.98 billion in revenues. As a reminder, CSC has warned on earnings. This one shows up as a value stock in all sorts of investor screens but it is a value trap.

Filed under: 24/7 Wall St. Wire, Calendar, Earnings Tagged: AKAM, CSC, CSCO, ENB, GRPN, ICE, IM, LVLT, MCO, NWSA, PAA, PNG, PRU, RAI, RL, S, TWX, V, VICL, WFM

Shorts Exit Weak Shares (EK, AMR, BP, LVLT)

247wallst — Wed, 26 Oct 2011 10:28:03 +0000

Short sellers moved out of stocks that have fallen recently. Perhaps they believe there will be a large rally in the market. There is little else to make the shares of companies with poor earnings and poor prospects rise.

Among NYSE stocks, the short interest in AMD (NYSE: AMD) fell 15% to 80.4 million shares. Shares sold short in embattled airline stock AMR (NYSE: AMR), the parent of American Airlines, dropped by 19% to 48.8 million. Rumors suggest the company may declare Chapter 11. Eastman Kodak (NYSE: EK) may also face bankruptcy. Shares short in the company fell 11% to 70.2 million.

Shares short in BP (NYSE: BP) were down 49% to 7 million. The short interest in struggling drug retailer Rite Aide (NYSE: RAD) dropped 11% to 61.1 million. Shares short in its competitor CVS Caremark (NYSE: CVS) were off 21% to 27.3 million.

In the medical sector, shares short in Boston Scientific (NYSE: BSX) were down 19% to 39 million. The short interest in Pfizer (NYSE: PFE) fell 10% to 79.3 million.

The same pattern of abandonment of stocks in weak companies held true for Nasdaq-traded shares. The short interest in Dell (NASDAQ: DELL) dropped 23% to 60.6 million. The short interest in Level 3 (NASDAQ: LVLT) fell 8% to 168.6 million. Shares short in News Corp. (NASDAQ: NWSA) dropped 9% to 51.8 million. The short interest in Cisco (NASDAQ: CSCO) dropped 6% to 80.7 million. Shares short in Affymetrix (NASDAQ: AFFX) fell 32% to 6.0 million.

Notable increases in short interest included troubled wireless broadband company Clearwire (NASDAQ: CLWR). Shares sold short in the company rose 15% to 47.8 million. The short interest in Southwest Air (NYSE: LUV) was higher by 15% to 25.2 million.

Short interest as of October 14. Data from NYSE and Nasdaq.

Douglas A. McIntyre

Filed under: Short Interest Tagged: AFFX, AMD, AMR, BP, BSX, CLWR, CSCO, CVS, DELL, EK, LUV, LVLT, NWSA, PFE, RAD

24/7 Closing Bell (NFLX, FSLR, T, FRX, HWAY, JASO, LVLT, LOW, MMM, AKS, ARMH, CRDN, SHW, CI, ININ)

Paul Ausick — Tue, 25 Oct 2011 20:18:41 +0000

Shares opened lower this morning on continuing concern about European bank debt. The Case-Shiller report on housing contributed to the weakness and then the Conference Board’s Consumer Confidence Index came it at its lowest reading in three years. Shares of Netflix Inc. (NASDAQ: NFLX) continue to fall and First Solar Inc. (NASDAQ: FSLR) fired its CEO. Crude oil prices rose almost $2/barrel, and gold rose more than 3%, to top $1,700/ounce.

The unofficial closing bells put the DJIA down more than 205 points at 11,707.91 (-1.73%), the NASDAQ fell more than61 points (-2.26%) to 2,638.42, and the S&P 500 fell -2% or more than 25 points to 1,229.06.

There were several analyst upgrades and downgrades today, including a drop of AT&T (NYSE: T) to ‘market perform’ at Bernstein. Forest Laboratories Inc. (NYSE: FRX) was cut to ‘hold’ at Argus and Healthways Inc. (NASDAQ: HWAY) downgraded at 3 firms. Stocks getting a boost today included JA Solar Holdings Co. Ltd. (NASDAQ: JASO) raised to ‘overweight’ at Piper Jaffray, Level 3 Communications, Inc. (NASDAQ: LVLT) raised to ‘neutral’ at Citigroup, and Lowe’s Companies (NYSE: LOW) raised to ‘buy’ at Janney.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Netflix is down nearly -35%, at $77.30; 3M Co. (NYSE: MMM) fell more than -5.5%, to $77.45; AK Steel Holding Corp. (NYSE: AKS) fell more than 13% to $7.52; ARM Holdings plc (NASDAQ: ARMH) up about 1%, at $27.98; Ceradyne Inc. (NASDAQ: CRDN) up nearly 10%, at $33.48; and Sherwin-Williams Co. (NYSE: SHW) up about 2.5%, at $83.62.

Several other standouts from today are as follows…

First Solar dropped more than -25%, to $43.40, a new 52-week low. The company has fired its CEO after the shares have been pummeled on falling prices for solar PV panels. The stock’s 52-week high is $175.45, and that may be in the rear-view mirror forever.

Healthways is down more than -43%, at $6.31, after posting a new 52-week low of $6.22 earlier. CIGNA Corp. (NYSE: CI) will be cutting its contract work with Healthways following Cigna’s announced acquisition of HealthSpring.

Interactive Intelligence Group, Inc. (NASDAQ: ININ) dropped more than -24%, to $25.66. The company was downgraded by two analyst firms. The company reported soft earnings this morning.

SMTC Corp. (NASDAQ: SMTX) is up more than 45%, to $2.11. The circuit board maker raised fourth quarter and fiscal year 2012 guidance.

Unisys Corp. (NYSE: UIS) is up more than 32%, at $26.54. Earnings beat expectations as foreign sales appear to be more than making up for weak federal government sales in the US.

Stay tuned for Wednesday. We have the following events noted:

7:30 a.m. — Mortgage Bankers Association mortgage purchase applications
8:30 a.m. — Durable Goods orders
10:00 a.m. — New home sales
10:30 a.m. — EIA Petroleum status report

Paul Ausick

Filed under: General, Market Close Tagged: AKS, ARMH, CI, CRDN, FRX, FSLR, HWAY, ININ, JASO, LOW, LVLT, MMM, NFLX, SHW, T

Top Analyst Upgrades & Downgrades (T, BK, CELL, FDO, FRX, HWAY, JASO, LVLT, LOW, NFLX, RGLD, VECO)

Administrator — Tue, 25 Oct 2011 12:26:08 +0000

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

AT&T Inc. (NYSE: T) Cut to Market Perform at Bernstein.
The Bank of New York-Mellon (NYSE: BK) maintained Underperform as Bear of the Day at Zacks.
Brightpoint, Inc. (NASDAQ: CELL) Raised to Outperform as Bull of the Day at Zacks.
Family Dollar Stores, Inc. (NYSE: FDO) named Growth & Income stock of the day at Zacks.
Forest Laboratories Inc. (NYSE: FRX) Cut to Hold at Argus.
Healthways Inc. (NASDAQ: HWAY) downgraded at William Blair, Barclays, and Piper Jaffray.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) Raised to Overweight at Piper Jaffray.
Level 3 Communications Inc. (NASDAQ: LVLT) Raised to Neutral at Citigroup.
Lowe’s Companies Inc. (NYSE: LOW) Raised to Buy at Janney.
Netflix, Inc. (NASDAQ: NFLX) downgraded by Reed Hastings and everyone left who was still positive.
Royal Gold, Inc. (NASDAQ: RGLD) Raised to Overweight at HSBC.
Veeco Instruments Inc. (NASDAQ: VECO) Cut to Neutral at Sterne Agee; Reiterated Sell ar Canaccord Genuity.

JON C. OGG

Filed under: Analyst Calls Tagged: BK, CELL, FDO, FRX, HWAY, JASO, LOW, LVLT, NFLX, RGLD, T, VECO