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Martha Stewart Living Omnimedia Inc. (NYSE: MSO) has just released a headline titled “Martha Stewart Living Omnimedia Issues Statement.” Unfortunately, this ’statement’ is that the relationship between Martha and Sears Holdings Corporation (NASDAQ: SHLD) in Kmart is not being renewed. We suspected something of this magnitude when the The Home Depot, Inc. (NYSE: HD) pact was signed, and that now appears to have been the last straw.
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Posts for Ticker ‘MSO’
Martha Stewart & Kmart Get a Divorce (MSO, SHLD, HD)
Top Analyst Downgrades (ADBE, ABX, CVH, FCL, MSO, MIR, S, VZ)
These are this Wednesday’s top pre-market analyst downgrades and cautious research calls we have seen from Wall Street firms:
Adobe Systems (ADBE) Cut to Hold at Jefferies.
Barrick Gold (ABX) Started as Reduce at Nomura.
Coventry Health (CVH) Cut to Sell at Goldman Sachs.
Felcor Lodging (FCL) Started as Sell at Citigroup.
Martha Stewart (MSO) Cut to Underweight at JPMorgan.
Mirant (MIR) Cut to Sell at Citigroup.
Sprint Nextel (S) Cut to Market Weight at Thomas Weisel.
Verizon Communication (VZ) Cut to Neutral at UBS.
JON C. OGG
Martha Stewart Lands at Home Depot (MSO, HD, SHLD, M)
Martha Stewart Living Omnimedia Inc. (NYSE: MSO) has a new exclusive product lineup partner. We still want to know where Martha will end up after the K-Mart deal she has with Sears Holdings (NASDAQ: SHLD) expires, although a new partnership unveiled today does not specifically address that question and does not sound “exclusive” despite the term being used.
The Home Depot Inc. (NYSE: HD) announced an agreement today with Martha Stewart Living Omnimedia to develop an exclusive Martha Stewart Living brand of home improvement products. It was not noted that this will have any impact on the K-Mart agreement and it still notes that Macy’s Inc. (NYSE: M) is one of the many retailers where Martha Stewart products will be available.
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Media Digest 4/22/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Yahoo!’s (YHOO) profit dropped 80% and it will cut 5% of staff.
Reuters reports that Chrysler bondholders offered to swap some debt for equity.
Reuters reports that Geithner says most banks are well-capitalized.
Reuters writes that a bear market still grips stock and credit markets.
Reuters writes that regional banks have been hit hard by the recession and bad loans. Read More
The 52-Week Low Club (MSO)(CHTR)(DOW)
Dow Chemical (DOW) Deal with Kuwait is dead. Falls to $14.93 from 52-week high of $43.43.
Martha Stewart Living (MSO) No special news. Media stocks just keep falling. Drops to $2.55 from 52-week high of $9.99.
Charter Communications (CHTR) Citigroup analyst is concerned about chance of bankruptcy. Plunges to $.085 from 52-week high of $1.68.
Douglas A. McIntyre
Martha Comes Up Short (MSO)
Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) posted a net loss at -$0.07 EPS and said that excluding certain restructuring corporate expenses it would have seen a loss of -$0.01 EPS. First Call was looking for a break-even quarter. Unfortunately, the media company is guiding down revenues for Q4 and for fiscal 2008.
Jim Cramer Takes On Martha Stewart (MSO)
On today’s Olympics-shortened and rescheduled MAD MONEY on CNBC at 1:30 PM EST, Jim Cramer actually hosted Martha Stewart, founder of Martha Stewart Living Omnimedia Inc. (NYSE: MSO).
It’s probably no surprise, but Cramer and Martha were both bullish on the company and the brand. She said the damage has been repaired, advertisers are back, and the brand stayed strong. She also noted that the company has so many brands that people do not even think of it.
Top 10 Pre-Market Analyst Calls (ADM, ASMI, CN, CHU, FIG, BEN, MSO, NT, RYL, TER, VSE)
These are ten of the analyst calls we are focusing on this Thursday morning:
- Archer-Daniels (NYSE: ADM) cut to Hold at Citigroup.
- ASM Intl NV (NASDAQ: ASMI) started as Underperform at Jefferies.
- China Netcom (NYSE: CN) and China Unicom (NYSE: CHU) raised to Hold at Deutsche Bank.
- Fortress Investment (NYSE: FIG) cut to Neutral at Credit Suisse.
- Franklin Resources (NYSE: BEN) raised to Outperform at KBW.
- Martha Stewart (NYSE: MSO) cut to Neutral at JPMorgan.
- Nortel (NYSE: NT) raised to Overweight at JPMorgan.
- Ryland Group (NYSE: RYL) raised to Buy at UBS.
- Teradyne (NYSE: TER) started as Neutral at Piper Jaffray.
- VeraSun Energy (NYSE: VSE) cut to Sell at Citigroup.
Jon C. Ogg
June 12, 2008
Martha Stewart (MSO): Firing The Wrong Person
Martha Stewart Living (MSO) CEO Susan Lyne was asked to leave the table today. Two other executives at the company replaced here. The market did not like the news and pushed the stock down over 3%.
Odd, MSO shares have outperformed Time Warner (TWX), News Corp (NWS), CBS (CBS), and Meredith (MDP) over the last three months. They have done almost as well year-to-date.
Neither of the people replacing Lynn has done a terribly good job. Wenda Harris Millard runs the media group. In the last quarter, advertising was flat at $40.7 million. Robin Marino who runs merchandising turned in equally dismal results with the revenue in her group slightly down at $13 million.
Anyway, always nice to get a raise.
Douglas A. McIntyre
Media Digest 2/19/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Toshiba will drop its HD DVD format.
Reuters reports that Blll Gates said Microsoft (MSFT) will target web search with or without Yahoo! (YHOO)
Reuters writes that RIM (RIMM) has sued Motorola (MOT) over patent issues.
Reuters writes that Exxon (XOM) is willing to enter talks with Venezuela but will continue its fight to be paid for assets.
The Wall Street Journal writes that Credit Suisse (CS) has cut the value of its asset-backed securities by $2.85 billion.
The Wall Street Journal reports that Ambac (ABK) will try to raise $2 billion.
The Wall Street Journal writes that a rival of Baxter (BAX) has started to supply a drug to replace heparin which has been tainted by supply quality problems in China.
The Wall Street Journal reports that problems in the auction-rate securities market may lead to higher financing costs for some institutions.
The Wall Street Journal reports that Martha Steward (MSO) will buy certain assets from Emeril.
The Wall Street Journal writes that Taiwan Semiconductor (TSM) will begin to build chips designed by Sun (JAVA).
The Wall Street Journal writes that Verizon’s (VZ) roll-out of HDTV is being delayed by a shortage of settop boxes.
The Wall Street Journal writes that banks and investment houses may have to write down as much as $15 billion in LBO debt.
The Wall Street Journal writes that big media companies want a larger part of video games based on their shows.
The New York Times writes that Wall St. is bracing for another wave of write-downs.
The New York Times writes that China inflation rose 7.1% in January, the largest increase in a decade
The New York Times writes that Delta (DAL) and Northwest (NWA) are close to closing a merger.
The FT writes that banks have quietly borrowed $50 billion from the Fed in the last few weeks.
Bloomberg writes that the second half 2007 profits at Barclays (BCS) fell 21% on write-downs.
Douglas A. McIntyre
Top 10 Pre-Market Analyst Calls (CMG, FLR, MSO, MU, SNH, SSS, VIA.B, WTW, WFMI)
These are not the only calls out there from analysts, but these are the top analyst calls that 247WallSt.com is looking at this Friday morning:
- Chipotle Mexican Grill (NYSE: CMG) raised to Outperform at Robert W. Baird.
- Fluor (NYSE: FLR) raised to Buy at UBS.
- Martha Stewart (NYSE: MSO) started as Outperform at RBC Capital.
- Micron Tech (NYSE: MU) initiated as Outperform at Oppenheimer.
- Senior Housing (NYSE: SNH) raised to Buy at UBS.
- Sovereign Self Storage (NYSE: SSS) downgraded to Hold from Buy at Deutsche Bank.
- Viacom (NYSE: VIA.B) raised to Buy at UBS.
- Weight Watchers (NYSE: WTW) raised to Outperform at Oppenheimer.
- Whole Foods (NASDAQ: WFMI) downgraded to Underweight at Lehman.
Jon C. Ogg
February 15, 2008
52-Week Low Club (December 28, 2007)
Some of these stocks hit 52-week lows and recovered off of lows so they won’t have a low close. But these did all touch or breach the 52-week lows. At the end we also broke out retail stocks, financial stocks, airlines & transports, and hotels. A separate report could have been compiled for REIT’s as well, but many of those were left off because of room or volume. There were enough 52-week lows today that you might even wonder if there had been a mini-crash in the markets. Here are the 52-week lows for December 28, 2007:
- Advanced Micro Devices (NYSE: AMD)… imagine if the company got Hector Ruiz to leave.
- American Greetings (NYSE: AM)…again.
- AstraZeneca (NYSE:AZN)… new entrant.
- Carmike Cinemas (NASDAQ:CKEC)
- ChipMOS (NASDAQ:IMOS)
- Corp. Office Property (NYSE: OFC)
- Cryptologic (NASDAQ: CRYP)
- Diebold (NYSE:DBD)
- Fortune Brands (NYSE:FO)
- Group 1 Auto (NYSE: GPI)
- Infinera Corp. (NASDAQ: INFN)
- Introgen (NASDAQ:INGN)
- Japan Smaller Cap Fund (NYSE: JOF)
- Lamar Advertising (NASDAQ: LAMR)
- Legget & Platt (NYSE: LEG)
- Martha Stewart (NYSE: MSO)
- Marvell Tech (NASDAQ:MRVL)
- Mattel (NYSE:MAT)
- McClatchy (NYSE:MNI)
- Micron Tech (NYSE:MU)
- NGAS Resources (NASDAQ:NGAS)
- Nortel Networks (NYSE:NT)
- Owens Corning (NYSE:OC)
- Omnicare (NYSE:OCR)
- Prestige Brand (NYSE: PBH)
- PC-Tel (NASDAQ:PCTI)
- Ruth’s Chris (NASDAQ:RUTH)
- SanDisk (NASDAQ: SNDK)
- Theravance (NASDAQ:THRX)
- Tractor Supply (NASDAQ:TSCO)
- Wendy’s (NYSE: WEN)
- World Fuel Services (NYSE:INT)
- U-Store-It (NYSE:YSI)
Retail Stocks on 52-week lows: Ann Taylor (NYSE:ANN), Big Lots (NYSE:BIG), Borders Group (NYSE:BGP), Bon Ton Stores (NASDAQ:BONT), Chico’s FAS (NYSE:CHS), Finish Line (NASDAQ:FINL), Liz Claiborne (NYSE: LIZ), Macy’s (NYSE: M), Office Max (NYSE:OMX), Petsmart (NASDAQ:PETM), Stage Stores (NYSE:SSI)
Financial stocks on 52-week lows: Bear Stearns (NYSE: BSC), Citigroup (NYSE:C), Canseco (NYSE: CNO), Discover Financial (NYSE: DFS), Fifth Third Bancorp (NASDAQ:FITB), Fortress Investment (NYSE: FIG), MBIA Inc. (NYSE: MBI), Washington Mutual (NYSE:WM)… urgh! When does it stop?
Airlines/Transports on 52-week lows: Airtran Holdings (NYSE: AAI)…again. Did they launch a Friends Die Free rewards plan? Continental Airlines (NYSE:CAL), Fedex (NYSE:FDX), Mesa Air (NASDAQ:MESA), Northwest Airlines (NYSE: NWA)… near $100 oil is a real pain.
Hotels Hitting 52-week lows: Host Hotels (NYSE: HST), Lasalle Hotel (NYSE: LHO), Starwood Hotels (NYSE:HOT), Sunstone Hotel (NYSE: SHO), Wydham Worldwide (NYSE:WYN). Maybe these all wish they could get the private equity buyers back in the sector. If only they could still borrow.
These CEO’s new year’s resolutions are all the same: "In 2008 I want to keep my stock off the 52-week low lists."
Jon C. Ogg
December 28, 2007
52-Week Low Club (AAI, ANN, AM, BIG, BJRI, CHS, CC, LIZ, M, OMX, MSO, RL, HOT, WM, WEN, ZLC)
Today’s list of 52-week lows was still dominated by retail and consumer spending stocks, although a surprise surge from several key semiconductor names made today’s list. Some of these did end up recovering back above their respective 52-week lows. Here’s your list for today:
- Airtran (AAI)…down from a $13.09 high. $95+ Oil is a pain. Stock broke significant support at $8.00 two weeks ago so it’s in no-man’s land.
- Ann Taylor (ANN)… Is the growth story gone? If so and IF it can hit its earnings estimates then it is a hidden value stock. But with women spending less on clothes over the holidays it may just be a value trap.
- American Greeting (AM)… I started complaining about the cost of greeting cards LONG BEFORE the economy softened, and I’m not alone.
- Big Lots (BIG)…again…should say "habitual offender" on it.
- BJ’s Restaurants (BJRI)…cool brewpub, although still expensive on earnings measurement.
- Chico’s FAS (CHS)…again.
- Circuit City (CC)…needs to fire that CEO immediately.
- Liz Claiborne (LIZ)…again.
- Macy’s (M)….again.
- Marvell Tech (MRVL).. see chip stocks on 52-week lows.
- Martha Stewart Living (MSO)… Is it changing its name to "DYING"? Maybe a weak ad environment and magazine environment is even worse than we thought?
- Micron Tech (MU) turnaround still can’t turn around… see chip stocks on 52-week lows.
- Office Max (OMX)…again.
- Ralph Lauren Polo (RL)…recovered above that 52-week low but this was a surprise to see even in a weak consumer. Stock is now over $40.00 under highs.
- Sandisk (SNDK).. see chip stocks in 52-week lows.
- Starwood Hotels (HOT)… givin’ all the inheritance away may not keep young Paris happy.
- STMicro (STM)…see chip stocks on 52-week lows.
- Washington Mutual (WM)… when WA-MU changes its name to UH-OH!
- Wendy’s International (WEN)… just an expensive burger chain with a "hoped for buyout" allowing a premium, otherwise would be even lower.
- Zale Corp. (ZLC)….. I didn’t get my wife diamonds for Christmas either.
All these CEO’s have a fairly easy new year’s resolution for 2008: "I want to keep my stock from hitting 52-week lows"…….
Jon C. Ogg
December 27, 2007
The 52-Week Low Club (MSO)(TUES)
First Marblehead (FMD) Provides products for private education lending markets. Problems at SLM are not helping. Down to $11.69 from 52-week high of $57.56.
Martha Stewart Living (MSO) A lot of bad news in print advertising today. Shares move down to $9.38 from 52-week high of $23.21.
Tuesday Morning (TUES) Retailer warns on profits. Falls to $4.41 from 5-week high of $18.50.
Coherent (COHR) Company taken out of the S&P SmallCap 600. Drops to $24.85 from 52-week high of $33.38.
Douglas A. McIntyre
This Week’s 24/7 Wall St. Media Newsletter
Attached it this week’s edition of the 24/7 Wall St. Media Newsletter covering Martha Steward (MSO), McGraw-Hill (MHP), Cablevision (CVC), Motorola (MOT), and Gatehouse Media (GHS).
If the information in the newsletter is valuable, readers can get it weekly at the 24/7 Wall St. Media Newsletter subscription page.
Douglas A. McIntyre
Pre-Market Earnings Gappers (November 2, 2007)
(ALY) Allis-Chalmers $0.37 EPS vs $0.36 est.
(ASVI) A.S.V. Inc. $0.13 EPS vs $0.19 est.
(BEBE) bebe stores traded up 3% despite slight revenue miss.
(CBB) Cincinnati Bell $0.09 EPS vs $0.08 est.
(CI) CIGNA $1.14 EPS vs $0.93 est.
(DUK) Duke Energy $0.48 EPS vs $0.39 est.
(ENCY) Encysive -$0.32 EPS vs -$0.31 est.
(ERTS) Electronic Arts trading up 3% after beating earnings.
(GYI) Getty Images traded up 5% after earnings.
(HAIN) Hain Celestial rose almost 5% after beating earnings expectations.
(HIMX) HIMAX trading up 7% after earnings.
(IP) International Paper $0.57 EP vs $0.57 est.
(ITRI) Itron trading down 11% after earnings.
(LVS) Las Vegas Sands trading down $16+ to $109 pre-market on net loss.
(MSO) Martha Stewart Enterprises -$0.08 EPS vs -$0.13 est.
(NI) NIsource $0.08 EPS vs $0.10 est.
(NTLS) NETELOS $0.18 EPS vs $0.14 est.
(NYX) NYSE $0.76 EPS vs. $0.73 est.
(OMG) OM Group $1.30 EPS vs $1.17 est.
(RDEN) Elizabeth Arden $0.04 EPS vs -$0.05 est.; sees Q2 $1.11-1.16 vs $1.21 est.
(SGMS) Scientific Games down 4% after earnings.
(SYNA) Synaptics traded up 10% after beating earnings expectations.
(VCLK) ValueClick trading down 0.5% after lackluster earnings.
(VIA) Viacom $0.65 vs 0.60
Yahoo! (YHOO): Be Careful What You Say
Terry Semel, Yahoo!’s (YHOO) seemed to get himself in trouble from time to time by saying how great the company’s new Panama system was and how it would help lift the online company’s revenue. Most of that did not come true.
As Yahoo! reorganized its sales operations and pushed North American sales chief Wendy Harris Millard out the door (she ended up at Martha Steward Omnivision almost immediately), the head of Yahoo!’s worldwide sales, Greg Coleman, made the statement that Yahoo! would be better off if its search results advertising and display advertising were sold by the same organization.
Yahoo!’s new president put a point on it, according to Reuters: "Yahoo President Susan Decker said in a phone interview that the consolidation of Yahoo’s two advertising arms — display and Web search advertising — reflects growing demand by customers for campaigns that combine both types of ads, with newer types of video advertisements."
But, these are silly statements from silly people. If combining text and display advertising was such a fabulous idea, how did Yahoo! come to that decision so recently. Perhaps Semel was holding up the paperwork in his office. "When combined, the two organizations will deliver profoundly better results than when delivered separately," Coleman said. Coleman should be careful what he says. "Profoundly better" is pretty good.
It would seem that Coleman should have been the scape goat for Yahoo!’s advertising problems. He has been the chief. But, the people above him and below him are gone. Not many excuses left.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com.
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