Posts for Ticker ‘MMC’

Top 10 Analyst Upgrades & Downgrades (CROX, FTE, MMC, PCS, WTR, LEAP, NVO, RRGB, TI, TRI)

Everyone is on hold for jobs data, but there are still pre-market research calls.  These are the top ten analyst calls we saw for upgrades and downgrades this Friday morning:

Crocs (CROX) Raised to Overweight at Piper Jaffray.
France Telecom (FTE) Raised to Overweight at JPMorgan.
Marsh & McLennan (MMC) Raised to Buy at UBS.
MetroPCS (PCS) Raised to Hold at Auriga.
Aqua America (WTR) Cut to Neutral at HSBC.
Leap Wireless (LEAP) Cut to Market Weight at Thomas Weisel; Cut to Hold at Soleil.
Novo Nordisk (NVO) Cut to Neutral at Goldman Sachs; Cut to Neutral at JPMorgan; Cut to Neutral at UBS.
Red Robin Gourmet (RRGB) Cut to Perform at Oppenheimer.
Telecom Italia (TI) Cut to Neutral at BofA/Merrill Lynch.
Thomson Reuters (TRI) Cut to Underperform at Jefferies.

JON C. OGG

Posted on: August 7, 2009 – 8:00 am in Analyst Calls, , , , , , , , , ,

Top Analyst Upgrades and Downgrades (CHK, DD, FIG, FITB, KIND, MMC, MINI, STI, UNTD, VCLK)

These are the top ten pre-market analyst upgrades, downgrades, and initiations from Wall Street research this Thursday morning:

Chesapeake Energy (CHK) Cut to Hold at Argus.
DuPont (DD) Raised to Perform at Oppenheimer.
Fortress Investment Group (FIG) Raised to Outperform at KBW.
Fifth Third Bancorp (FITB) Cut to Market Perform at KBW.
Kindred Healthcare (KIND) Cut to Hold at Jefferies.
March & McLennan (MMC) Raised to Market Perform at KBW.
Mobile Mini (MINI) Cut to Hold at Needham.
SunTrust (STI) Cut to Market Perform at KBW.
United Online (UNTD) Cut to Hold at Jefferies.
ValueClick (VCLK) Raised to Buy at Merriman Curhan Ford.

JON C. OGG
AUGUST 6, 2009

Posted on: August 6, 2009 – 7:51 am in Analyst Calls, , , , , , , , , ,

Top Pre-Market Analyst Downgrades (ASTE, ECLP, GD, MMC, RSH, TKC)

burning-money-pic20These are the top pre-market analyst downgrades and cautious analyst research calls we have seen from Wall Street this Wednesday morning with more than two hours until the market opens:

  • Astec Industries (ASTE) Cut to Sell at Piper Jaffray.
  • Eclipsys (ECLP) Cut to Hold at Deutsche Bank.
  • General Dynamics (GD) Started as Hold at Collins Stewart.
  • Marsh & McdLennan (MMC) Cut to Underperform at FBR.
  • Radioshack (RSH) Cut to Underweight at Keybanc.
  • Turkcell (TKC) Cut to Neutral at Goldman Sachs.

Jon C. Ogg
February 25, 2009

Posted on: February 25, 2009 – 7:44 am in Analyst Calls, , , , , ,

Top Pre-Market Analyst Upgrades (AOC, BAC, CR, DOV, FSLR, HPT, MMM, MMC, MA, SPWRA, TROW, V, WU)

These are some of the top analyst upgrades we are seeing in early hours of pre-market trading this Tuesday morning:

  • AON Corp. (AOC) Raised to Buy at Goldman Sachs
  • Bank Of America (BAC) Raised to Strong Buy from Outperform at Raymond James
  • Crane Co. (CR) Raised to Neutral from Sell at Goldman Sachs
  • Dover Corp. (DOV) Raised to Buy at Goldman Sachs
  • First Solar (FSLR) Raised to Market Perform at FBR
  • Hospitality Properties Trust (HPT) Raised to Outperform at Wachovia
  • 3M (MMM) Raised to Neutral from Sell at Goldman Sachs
  • Marsh & McLennan (MMC) Raised to Buy at Goldman Sachs
  • MasterCard (MA) Raised to Outperform at Morgan Keegan
  • SunPower Corp. (SPWRA) Raised to Market Perform at FBR
  • T. Rowe Price (TROW) Raised to Market Perform at KBW
  • Visa Inc. (V) Raised to Buy at Piper Jaffray
  • Visa (V) Raised to Outperform at Morgan Keegan
  • Western Union (WU) Raised to Overweight at JP Morgan

Jon C. Ogg
October 14, 2008

Posted on: October 14, 2008 – 6:55 am in Analyst Calls, , , , , , , , , , , , ,

Top Pre-Market Analyst Upgrades (BPFH, CAAS, CTXS, HAYN, MMC, NDAQ, RL, RMD)

These are not all of the analyst upgrades or positive calls we are seeing, but these are the stand out calls early this Thursday morning:

  • Boston Private Financial (BPFH) Raised to Overweight at JPMorgan.
  • China Automotive Systems (CAAS) Started as Buy at Merriman Curhan Ford.
  • Citris (CTXS) Started as Outperform at Bernstein.
  • Haynes International (HAYN) Raised to Overweight at JPMorgan.
  • Marsh & McLennan (MMC) Raised to Market Perform at FBR.
  • NASDAQ OMX (NDAQ) Raised to Outperform at FBR.
  • Polo Ralph Lauren (RL) Raised to Outperform at Morgan Keegan.
  • Resmed (RMD) Raised to Hold at Citigroup.

Jon C. Ogg
August 7, 2008

Posted on: August 7, 2008 – 6:09 am in Analyst Calls, , , , , , , ,

Top 10 Pre-Market Analyst Calls (ACAD, ACE, AACC, RATE, GYMB, KIM, MMC, MVL, NCR, WSH)

These aren’t all of the analyst calls out there today, but these are ten of the calls impacting shares early this Tuesday morning:

  • ACADIA Pharmaceuticals (ACAD) Raised to Neutral at Banc of America.
  • ACE Limited (ACE) Raised to Outperform at Wachovia.
  • Asset Acceptance Capital (AACC) Cut to Underperform at Jefferies.
  • Bankrate (RATE) Cut to Hold from Buy at Collins Stewart.
  • Gymboree (GYMB) Cut to Market Perform from Outperform at FBR.
  • Kimco Realty (KIM) Cut to Neutral from Outperform at Credit Suisse.
  • Marsh & McLennan (MMC) Raised to Buy from Hold at Citigroup.
  • Marvel Entertainment (MVL) Started as Market Weight at Thomas Weisel.
  • NCR (NCR) Raised to Outperform from Neutral at Baird.
  • Willis Group (WSH) Cut to Hold at Citigroup.

Jon C. Ogg
July 8, 2008

Posted on: July 8, 2008 – 6:29 am in Analyst Calls, , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (ABB, CAH, EV, FAST, GE, MMC, PETM, SPW, V)

These are not the only analyst calls being seen this Monday in pre-market hours, but these are the top calls that 247WallSt.com is focusing on so far this morning:

  • ABB (NYSE: ABB) cut to Equalweight From Overweight at Lehman.
  • Cardinal Health (NYSE: CAH) removed from Conviction Buy List but maintained Buy at Goldman Sachs.
  • Eaton Vance (NYSE: EV) Raised to Neutral from Underweight at JPMorgan.
  • Fastenal (NASDAQ: FAST) Cut to Neutral from Buy at Piper Jaffray.
  • General Electric (NYSE: GE) downgraded to Perform from Outperform at Oppenheimer; cut to Peer Perform from outperform at Bear Stearns.
  • Marsh & McLennan (NYSE: MMC) Raised to Outperform at KBW.
  • PETsMART (NASDAQ: PETM) raised to Buy from Neutral at Banc of America.
  • SPX Corp (NYSE: SPW) cut to Hold at Deutsche Bank.
  • Visa (NYSE: V) started as Outperform at KBW.

Jon C. Ogg
April 14, 2008

Posted on: April 14, 2008 – 6:11 am in Analyst Calls, , , , , , , , ,

Market So Bad, Even Ex-Spitzer Target Stocks Close Much Lower (NYSE, AIG, JNS, MMC, MER)

By now you have heard news of New York Governor Eliot Spitzer’s involvement in a prostitution ring.  So much for crime and ethics fighters being immune from temptation.  But what we wanted to see was if this helped some of the old Eliot Spitzer target company, and shockingly this news did not even help these companies close in positive territory or even lend much aid from a bear bite.

Our apologies for not being able to include the full list because it was much more extensive than this.  Below is how these major former target companies closed, and they all closed down with a weak market: 

  • NYSE Euronext (NYSE: NYX) wasn’t a target itself, but Dick Grasso was over the pay package.  Shares closed down some 5% at $57.40, a new 52-week low and under the old $59.40 to $101.00 trading range.
  • American International Group (NYSE: AIG) just probably saw the odds of an increased quasi-return of Hank Greenberg, who has already expressed an interest in getting back in. AIG shares closed down over 2% at $41.95, also under the 52-week trading range of $42.14 to $72.97.
  • Marsh & McLennan (NYSE: MMC) fell under the insurance rebating issues, and it has never really recovered.  Marsh-Mac shares closed down 1.75% at $24.66, although that is not a 52-week low.
  • Janus (NYSE: JNS) was part of the market timing scandal brought on by Spitzer.  Shares closed down 1% at $21.88, also not a 52-week low.
  • Merrill Lynch (NYSE: MER) was part of the Wall Street research settlement, although that was a much larger group of companies than many other industry complaints.  Merrill Lynch shares closed down 5% at $42.84, under its 52-week trading range of $44.30 to $95.00.

Spitzer was not a great loved brother on Wall Street despite his actions cleaning up many business practices in various industries.  A better market or a decent day may have helped these stocks close higher.  This is just more reminder that we are in a bear market. 
Jon C. Ogg
March 10, 2008

Posted on: March 10, 2008 – 3:22 pm in Financial Stocks, HI/LOW, Law, , , , ,

CEO’s Axed Left & Right, Who’s Next? (BSC, SBUX, MMC, AMD, CC, BSX, FINL, CFC)

It seems that all of a sudden corporations are deciding to do the right thing by getting rid CEO’s that have put the companies and shareholders in untenable positions.

We called CEO James Donald of Starbucks (NASDAQ: SBUX) last week as a CEO that needs to replaced by founder Howard Schultz.  Yesterday that happened.

Yesterday evening there were also reports from CNBC, The WSJ, The Financial Times, CNN, and many others that James Cayne (Jimmy) was being replaced as CEO at Bear Stearns (NYSE: BSC).  He was our replacement in December for another CEO who got the ax so we’d still have our 10 CEO’s TO GO FOR 2008.  At midnight EST there was no official statement from the company but these reports when this widespread are almost never "an oops" where everyone is wrong (even if Dewey didn’t really win).  It appears that Cayne is staying on as Chairman, but keep in mind he’s in his 70’s.

Cherkasky of March & McLennan (NYSE: MMC) was the one that was fired in December and he was one of our 10 CEO’s to go, and one of the top ones. 

But we comprised a list of "actionable events" where a CEO being fired or "retiring" would likely act as cause for a stock rally so long as the companies have a replacement and action plan in place.  Bear Stearns shares were down 3% again Monday, but rose 2.3% in after-hours. We aren’t just trying to point out CEO’s, and we even gave a GUIDELINE FOR CEO’s TO GO.  We looked for stocks where we think new leadership would propel the shares.  So here is a summary of CEO’s we still believe need the ax headed their way:

  • We believe that Angelo Mozilo of Countrywide Financial (NYSE: CFC) will retire as CEO this year, but he’ll probably retain the Chairman role.
  • Alan Cohen of Finish Line (NASDAQ: FINL) is one we have been against for some time now and this was before the last blow-up that we saw coming.  He has screwed the common shareholder situation now so bad that viability is an actual concern and trying to use their balance sheet or valuations is irrelevant.  He’s gotta pay. Just one problem though: he’s dug in deep with voting control because of a dual class of stock. He needs to go get a pair of running shoes at an East Coast store and go on a Forrest Gump endless run.
  • Gary Pruitt of McClatchy (NYSE: MNI) is responsible for heading up the acquisition of Knight-Ridder, and the stock has never been the same since.  The balance sheet is now more leveraged and his old glory days are long gone.  It is hard to blame a CEO in the newspaper business for much turmoil now because it is systematic, but this is currently the worst in the lot.  Here’s the full scoop on that one.
  • James Tobin of Boston Scientific (NYSE: BSX) is a CEO in the middle of  giant quagmire.  Not all of the problems at the company are his issue alone, but they are the worst performer in their sector and this acquisition of Guidant was such a dud that the BSX-GDT combined company is now worth less than Boston Scientific was before it went after Guidant.  Here’s the rest.

There is also a whole slew of technology companies in need of a new regime. Here are the 247WallSt.com Technology CEO’s Who Need to Go in 2008 (ALU, AMD, BBND, CC, SYMC).  Out of these two we can’t decide which one of two is more deserving to get the ax nor which will be the first one marched out.  Hector Ruiz of Advanced Micro Devices (NYSE: AMD) and Philip Schoonover of Circuit City (NYSE: CC) have done in their hearts what the best thing and their efforts and leadership ended up being the bomb.  Military pilots turned investors would say their tenable positions are now FUBAR.  They should both meet on the golf course this weekend and see which one can score a better exit package.  Ruiz will probably have a better exit package as his pay with options is potentially huge.  Both of these guys are probably done.

If you want a potential list of other CEO’s or key managers that could face choppy waters you can see our master list of TURNAROUNDS THAT HAVEN’T TURNED AROUND.

Join our open email list to hear previews about other management changes, value stocks, special situations, IPO’s, restructuring, M&A, merger-arb spreads, and more.

Jon C. Ogg
January 8, 2008

Posted on: January 8, 2008 – 5:01 am in Management Change, , , , , , , , , , ,

2008 Corporate Resolutions: Firing Your Bad CEO’s (BSC, BSX, CFC, FINL, MMC, MNI)

2007 has been a volatile year in the stock market, but there are many key technology CEO’s who just aren’t making a passing grade. 247WallSt.com has issued a brief list of some recognized CEO’s in technology whose shareholders would likely be rewarded if the CEO was axed or stepped down.  We think these CEO’s have a great shot at getting the ax in 2008.

We decided to run a GUIDELINES FOR CEOs TO GO.  Most of these CEO’s have a recent history of disappointment, and calling a CEO out can’t be just over stock prices. The CEOs have proven their need to be called on to go. Out of 24/7 Wall St.’s CEO list for 2007, six of the eight that we called on to be fired were fired or finally forced out.  Here’s the full list, with a brief sentence and a link to the full explanations for each:

  • Alan Cohen of Finish Line (NASDAQ: FINL) has proven ineptitude if you have watched this last week.  We named him on the list and showed what may happen to that stock before last week’s debacle.  The founder needs to bring in new blood.  Here’s the full scoop.
  • Gary Pruitt of McClatchy (NYSE: MNI) is responsible for heading up the acquisition of Knight-Ridder, and the stock has never been the same since.  The balance sheet is now more leveraged and his old glory days are long gone.  Here’s the full scoop on that one.
  • James Tobin of Boston Scientific (NYSE: BSX) is a CEO in the middle of  giant quagmire.  Not all of the problems at the company are his issue alone, but they are the worst performer in their sector and this acquisition of Guidant was such a dud that the BSX-GDT combined company is now worth less than Boston Scientific was before it went after Guidant.  Here’s the rest.
  • Angelo Mozilo of Countrywide (NYSE: CFC) is a different call here.  We think Angelo will survive if he wants to, but what we think will happen in 2008 is that he will announce his retirement as CEO to bring in more of a day to day operator.  We think Mozilo will remain as non-executive Chairman and here’s why.

Michael Cherkasky of Marsh McLennan (NYSE: MMC) was one of our top candidates to leave his CEO role, and the company finally decided to act ahead of 2008.  But they didn’t heed the writing on the wall and HAD NO REPLACEMENT.  Here was the full scoop on that.

So we already had on of the CEO’s TO GO make the firing squad even before 2008 started.  We do actually have a replacement candidate, although we admit it is an obvious one that may be too easy:

  • James Cayne ("Jimmy") of Bear Stearns (NYSE: BSC) is probably not going to be sitting with this Chairman AND CEO role for very much longer.  We understand that he’s well liked, and frankly it’s hard to pick him out of all the other obvious financial companies that are lenders, brokers, traders, guarantors, and the like that had major CDO or mortgage related losses that hurt the company.  But he is already in his 70’s, has spent much time out of the office, recently had health issues, had a reporter ‘pot smoking’ accusation, and there are too many other reasons we think that Bear Stearns will want to replace him.  Unfortunately for him, he probably won’t be running Bear Stearns that much longer. 

We also ran a separate list of five different TECHNOLOGY CEO’S WHO NEED TO LEAVE that include CEO’s of AMD, BigBand Networks, Circuit City, Alcatel-Lucent, and Symantec.

We’ll see what happens in 2008.  Six of our eight that we called on to go in 2007 back in December 2006 were forced out in 2007.

You can subscribe to our free email distribution list to see more previews on other mergers, restructuring, turnarounds, spin-offs, IPO’s and more.  Happy new years to all, even to this lot of CEO’s that need to go.

Jon C. Ogg
January 1, 2008

Posted on: January 1, 2008 – 11:07 am in Management Change, , , , , ,

Marsh & McLennan: Cherkasky Out! (MMC)

Marsh & McClennan (NYSE: MMC) has announced that its CEO Michael Cherkasky is out.  The board of directors is searching for a new CEO.  Over the last two weeks 247WallSt.com named a list of 10 CEO’s WHO NEED TO GO for 2008, and Mr. Cherkasky was one of those 10 CEO’s. 

Shares were up 3% initially on this news but now it appears that shares are up roughly 5% in thin pre-market trading volume.  Now all of a sudden the volume disappeared and the indications are not there, so we aren’t able to say where this will open.  We would like to take the opportunity here though to tell the board of directors that they may be part of the problem.  When companies have known for a long time that their CEO is disliked and not doing the right job and DON’T have a list of 20 successor candidates then they are inept.

Here is the list of our other CEO’s to go:

Jon C. Ogg
December 21, 2007

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Posted on: December 21, 2007 – 7:52 am in Management Change, ,

10 CEO’s That Need To Leave in 2008: Michael Cherkasky of Marsh & McLennan (MMC)

MARSH & MCLENNAN COMPANIES INC. (NYSE: MMC) is guilty of having one of the TOP 10 CEO’s TO GO FOR 2008.  Michael Cherkasky is both President & CEO of the broader "Marsh-Mac" group of companies.  One real problem is that Cherkasky came into this position as a legacy chief executive officer left over when Kroll was acquired.  He was also chief of investigations for the New York County District Attorney before joining Kroll.  He is the right guy for the risk segment and Kroll was a success under him, but he is not at all the right guy to be head of the entire Marsh-Mac group of companies.

The dislike and dismay for Cherkasky hasn’t and won’t end with Monday’s announcement that AIG’s Daniel Glaser will become CEO of the Marsh Inc. insurance brokerage unit.  Wall Street really does want Cherkasky to go back into the risk management side of the equation (or just out), and after being top dog at the parent he won’t likely accept the deserved demotion. 

Marsh-Mac’s core earnings just fell 40% and were under expectations.  Standard & Poor’s lowered the counterparty credit rating of risk to "BBB-" just this week and that is now the lowest investment grade ranking.  If the rating drops to junk, it may have severe issues in its clients accepting business from them because of the credit risks.

A Toronto-based private investment management firm K.J. Harrison & Partners has asked Marsh-Mac for a shareholder vote to spin off its Kroll subsidiary and its Mercer subsidiary units at the 2008 annual meeting in an attempt to maximize shareholder value. CEO Jim Harrison has stressed that the financial services company has little credibility with its shareholders and little credibility with the investment community.

The recent sale of its Putnam mutual fund subsidiary, which was sold to Power Corporation of Canada, was not effective nor was the value maximized as it could have been spun off to Marsh shareholders in a tax savings and giving more value to investors. It sold Putnam for $3.9 Billion but received only about $2.5 Billion net of taxes and minority interests.  This whole $3.9 Billion could have gone in a tax-free spin-off to shareholders (short of minority interests), and it has done nothing to bolster its credit ratings.

Over the last two years this stock is down roughly 22%, and it’s down about 18% in the last year as well.  Since the investigations in late 2004, Marsh-Mac has become dead money and rides still at the bottom of what feels like a permanent trading range and it cannot blame the CDO and liquidity crisis as the culprit.  Cherkasky hasn’t even been able to offset the negativity despite an accelerated share repurchase program that has taken the share count from 558 million down to 540 million with more share buybacks in this quarter.  It isn’t working and a CEO should only be allowed to spend so much money out of the coffers merely to appease holders.  Even its 3% dividend isn’t viewed favorably.

There are many actions that a newer CEO could implement and there are several key issues surrounding the company:

  • because of its size it arguably has the lowest price-book ratio in the sector;
  • its P/E ratio is under 20 and it trades under 16-times 2008 estimates;
  • it can be re-carved back into pure-play organizations as marsh, Mercer, and Guy Carpenter and even Kroll could be spun-off, even though it was acquired.

The raw truth is that there is actually considerable value here in the stock compared to peers, but Wall Street wants this ongoing turnaround to be re-initiated by a new head (and maybe a mostly new team).  24/7 Wall St. believes that if Mr. Cherkasky doesn’t do the right thing by leaving on his own, then the board of directors will make Cherkasky’s retirement announcement for him before the 2008 annual meeting.  We believe that a Cherkasky departure might be worth as much as 5% to 8% alone, although the company needs to learn the lessons of Citigroup and have a successor in mind (but not Chuck Prince).

Jon C. Ogg
December 6, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: December 6, 2007 – 11:25 am in Financial Stocks, Management Change, Shareholder Issues, ,

NYSE Short Interest For October 31, 2007

Below is the short interest for major companies traded on the NYSE and changes from October 15, 2007 to the most current date, October 31, 2007.

Company                                           Shares Short               

Ford (F)                                             165.7 million shares short

Countrywide (CFC)                             106.9 million

Qwest (Q)                                           82.0 million

Time Warner (TWX)                             69.0 million

AMD (AMD)                                        67.1 million

Increase In Shares Sold Short

Company                                           Increase.

Countrywide                                       Up 27.1 million shares

LSI Logic (LSI)                                   Up 16.5 million

Applied Bio (ABI)                               Up 13.8 million

CItigroup (C)                                      Up 10.2 million

Mirant (MIR)                                      Up  9.9 million

Largest Decreases In Shares Sold Short

Company                                          Decrease In Shares Short

Marsh (MMC)                                    Down 16.4 million shares

Sprint (S)                                          Down 12.3 million shares

AMD                                                Down 8.8 million shares

Medtronic (MDT)                               Down 8.7 million shares

Sources: NYSE and WSJ

Douglas A. McIntyre

Posted on: November 6, 2007 – 5:24 pm in Short Interest, , , , , , , , , , , ,

Pre-Market Analyst Calls (September 25, 2007)

ACLI cut to Hold at Cantor Fitzgerald.
ARRS cut to Mkt Perform at FBR.
BKR cut to Neutral at Oppenheimer.
BRCM cut to Mkt Perform at FBR.
BZH started as Sell at UBS.
CAKE started as Outperform at Credit Suisse.
CCBL cut to Mkt Perform at FBR.
CKR started as Outperform at Credit Suisse.
CSG cut to Underperform at Bear Stearns.
CTX started as Buy at UBS.
DF cut to Peer PErform at Bear Stearns.
DHI started as Sell at UBS.
EMC started as Buy at B of A.
EMC started as Buy at Jefferies.
FLWS raised to Outperform at CIBC.
GOL raised to Neutral at JPMorgan.
GYI started as Sector Perform at CIBC.
HOV started as Neutral at UBS.
JBX started as Outperform at Credit Suisse.
K cut to Peer PErform at Bear Stearns.
KBH started as Buy at UBS.
LEN started as Sell at UBS.
MCD started as neutral at Credit Suisse.
MMC cut to Neutral at JPMorgan.
MTH started as Neutral at UBS.
NILE started as Sector Perform at CIBC.
NTAP started as Neutral at Bank of America.
NVDA started as Neutral at UBS.
PACR cut to Neutral at JPMorgan.
PFCB started as Underperform at Credit Suisse.
PHM started as Sell at UBS.
RHT started as Sector Perform at RBC.
RT started as Outperform at Credit Suisse.
RYL started as Neutral at UBS.
SNIC raised to Overweight at JPMorgan.
SPF started as Sell at UBS.
TAM raised to Neutral at JPMorgan.
TXRH started as Outperform at Credit Suisse.
WON raised to Buy at Deutsche Bank.

Jon C. Ogg
September 25, 2007

Posted on: September 25, 2007 – 7:08 am in Analyst Calls, , , , , , , , , , , , , , , , , , , , , , ,

The 52-Week Low Club

Enterra Energy (ENT) Canadian oil and gas investment company suspends monthly distribution payments to unitholders for at least six months to repay debt. Falls to $1.85 from 52-week high of $10.30.

PHH (PHH) Mortgage and vehicle fleet company was going to be bought by Blackstone (BX) and GE (GE). But, market environment seems to have killed that. Drops to $22.51 from 52-week high of $31.52.

Marsh & McLennan (MMC) Big insurance brokerage company fires head of largest unit. Down to $24.60 from 52-week high of $33.90.

Alcatel-Lucent (ALU) Telecom equipment company get downgrade after revising forecast down. Falls to $8.53 from 52-week high of $15.43.

Moody’s (MCO) Ratings agency under more pressure for bad ratings. Drops to $42.42 from 52-week high of $76.09.

Central Garden & Pet (CENT) Bad weather conditions and volatile grain prices. Down to $9.26 from 52-week high of $55.11.

Douglas A. McIntyre

Posted on: September 17, 2007 – 3:30 pm in HI/LOW, , , , , , , ,

Cramer’s New List of CEO’s That Need To Go (AMD, MOT, ALU)

Tonight on CNBC’s MAD MONEY, Cramer said he has a new set of members for the "Wall of Shame."  Cramer said four of his picks have gotten the boot.

3 NEW ADDITIONS:
Hector Ruiz of Advanced Micro (AMD);
Ed Zander of Motorola (MOT);
Patricia Russo of Alcatel-Lucent (ALU)

Changes on the old list: Buckley, of 3M (MMM)…full pardon; Cherkasky of Marsh & McLennan (MMC) now FULL member of Wall of Shame.

Interestingly enough, I had my own list from December in "These Stocks Could Rise Simply on New a CEO Announcement" and 5 out of my 10 picks have announced ‘bye-bye’ but please keep in mind that not all of these CEO’s were noted as "gotta go" leaders. 

I have been reviewing Ruiz of AMD for over a month now and here is the only problem….. There is a management gap and a lack of replacements and this would be a "gotta go just to go with no help in mind" issue, at least as of today.  Zander of Motorola could go too, we’ve had little to no good news to say about him.  Russo of Alcatel is a tough one, particularly as Lucent is now just part of Alcatel.

Jon C. Ogg
July 5, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: July 5, 2007 – 5:53 pm in Cramer, Management Change, , , , ,

Big List of Private Equity Targets in Financial Services

There is a recent boutique research report from earlier in the week showing a list of potential private equity targets from a specialty brokerage firm that I was very positive on from even before its IPO: Keefe Bruyette & Woods (KBW).  The truth is that this company is probably only behind Goldman Sachs (GS) as far as its knowledge of what is going on in the North American financial services sector, and the argument is that KBW is considered the number one firm as far as independent coverage of the financial services sector.  It is too bad the company did not get this out at the end of last year to include many other names that have been gobbled up, but it really feels as though every firm is ‘cramming for finals’ in the M&A world with the private equity superstars.

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Posted on: May 31, 2007 – 9:32 am in Bait Shop, Banking, Financial Stocks, Mergers and Buy Outs, Private Equity, Research, , , , , , , , , , , , , , , , , ,

Pre-Market Stock News (May 14, 2007)

(ACL) Alcan’s buyout bid by Alcoa is reportedly getting big interest from larger names such as Rio Tinto and others.
(BRLC) Syntax-Brillian filed to sell 25.6M shares, although the shelf was telegraphed with earnings last week.
(DCX) DaimlerChrysler is selling a majority stake in Chrysler to Cerberus Capital for $7.7 Billion; Chrysler will maintain 19.9% stake.
(FACT) First Albany is recapitalizing and will receive a $50M investment from Matlin Patterson.
(GE) GE’s NBC unit could or should merge with Yahoo! (YHOO) according to WSJ.
(GILT) Gilat Satellite $0.13 EPS vs $0.11e.
(INFT) Inforte gets a $4.25 cash buyout from Business & Decision.
(MMC) Marsh & McClennan announced $500M accelerated share buyback program.
(MRK) Merck received and FDA Approvable letter of its NDA for EMEND.
(MWA) Mueller Water names new CFO.
(MYL) Mylan Labs is acquiring Merck KGaA’s generic operations for about $6.7 Billion.
(NAT) Nordic American Tanker $0.85 EPS vs $0.83e.
(NAVR) Navarre is selling its independent music distribution business.
(PLXS) Plexus CFO retiring.
(QTWW) Quantum Fuel signed an agreement to acquire a 24.9% stake in a German solar company.
(SORC) Source Interlink to acquire PRIMEDIA’s Enthusiast Media unit for about $1.2 Billion.
(SYNF) Synergy Financial being acquired by New York Community Bancorp (NYB).
(TRMK) Trimark is paying $85M to acquire DATA RETURN from Saratoga Partners.
(ULBI) Ultralife Battery accepts modified order from last week lowered from $6.9M to $2.4M.
(USBE) US Bioenergy $0.08 EPS vs $0.21e.
(VAS) VIASYS being acquired by Cardinal Health (CAH) for $42.75.
(WMT) Wal-Mart is expanding electronics offerings and will include Skype equipment.

Jon C. Ogg
May 14, 2007

Posted on: May 14, 2007 – 6:35 am in Pre-Market Activity, , , , , , , , , , , , , ,