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Top Analyst Upgrades & Downgrades (ABMD, MT, BXP, DPZ, DRYS, FET, GPS, BLOX, LYB, OAK, POOL, SNTA, TSLA, URBN, WPI, ZIP)

Administrator — Tue, 22 May 2012 12:31:04 +0000

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

ABIOMED Inc. (NASDAQ: ABMD) Cut to Neutral at Lazard Capital.

ArcelorMittal (NYSE: MT) named Bear of the Day at Zacks.

Boston Properties Inc. (NYSE: BXP) Reiterated Buy with target price of $120 at Argus.

Domino’s Pizza Inc. (NYSE: DPZ) Reiterated Buy with target price of $46 at Argus.

DryShips Inc. (NASDAQ: DRYS) Started as Buy at Global Hunter.

Forum Energy Technologies, Inc (NYSE: FET) Started as Outperform with $28.00 target price at Credit Suisse; Started as Outperform at Howard Weil; Started as Buy at Citigroup.

Gap Inc. (NYSE: GPS) Raised to Buy at Lazard Capital.

Infoblox Inc. (NYSE: BLOX) Started as Buy with $21 target at UBS.

LyondellBasell Industries (NYSE: LYB) Started as Outperform with $60.00 target at Credit Suisse.

Oaktree Capital Group, LLC (NYSE: OAK) Started as Neutral with $45.00 target at Credit Suisse; Started as Buy at Goldman Sachs; Started as Neutral at JPMorgan.

Pool Corporation (NASDAQ: POOL) raised to Bull of the Day at Zacks.

Synta Pharmaceuticals Corp. (NASDAQ: SNTA) Started as Buy at Jefferies.

Tesla Motors, Inc. (NASDAQ: TSLA) Started as Buy at Maxim Group.

Urban Outfitters (NASDAQ: URBN) Maintained as HOLD with $26 target price but lower estimates at Canaccord Genuity.

Watson Pharmaceuticals Inc. (NYSE: WPI) Reiterated Buy with $90 target as “Top Idea Post” at Canaccord Genuity.

Zipcar, Inc. (NASDAQ: ZIP) Started as Overweight at Morgan Stanley.

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: ABMD, BLOX, BXP, DPZ, DRYS, FET, GPS, LYB, MT, OAK, POOL, SNTA, TSLA, URBN, WPI, ZIP

24/7 Wall St. Closing Bell (ORCL, NOV, MMM, TEVA, JDSU, AMCX, MT, HNR, KSS, WIN, DDS, JKS, PGR, SOL, URRE, MNST, WFR)

Paul Ausick — Thu, 10 May 2012 20:04:02 +0000

The major US stock indexes opened significantly higher this morning as investors were heartened by yesterday’s nationalization of Spain’s Bankia. The Bank of England also keps rates and asset purchases stable. This morning’s report on new US claims for unemployment benefits was in-line with expectations (our coverage here). US natural gas inventories rose last week, but the increase was also in-line with expectations (our coverage here).The US dollar index rose today, now up 0.01% at 80.077. The GSCI commodity index is down fractionally at 648.28, with commodities mostly higher on the small change in the dollar. WTI crude oil closed up 0.3% at $97.08/barrel and Brent crude trades down -0.37% at $112.78/barrel. Gold settled up 0.1% today, at $1,595.50/ounce.

The unofficial closing bells put the DJIA up nearly XX points to XXX (XX%), the NASDAQ rose more than XX points (XXX%) to XXX, and the S&P 500 rose XX% or nearly X points to XXX.

There were several analyst upgrades and downgrades today, including Oracle Corp. (NASDAQ: ORCL) cut to ‘hold’ at ThinkEquity; National Oilwell Varco Inc. (NYSE: NOV) maintained ‘buy’ with a lowered target price of $90 at Argus; 3M Co. (NYSE: MMM) cut to ‘market perform’ at Bernstein; Teva Pharmaceuticals Industries Ltd. (NASDAQ: TEVA) cut to ‘hold’ at Needham; and JDS Uniphase Corp. (NASDAQ: JDSU) raised to ‘buy’ at UBS.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: AMC Networks Inc. (NASDAQ: AMCX) is up 2.4% at $40.58; ArcelorMittal (NYSE: MT) is up 1.9% at $16.42; Harvest Natural Resources Inc. (NYSE: HNR) is down -1.6% at $5.71 after posting a new 52-week low of $5.44 earlier today; Kohl’s Corp. (NYSE: KSS) is down -4.6% at $48.52; and Windstream Corp. (NASDAQ: WIN) is down -10.3% at $10.10 after posting a new 52-week low of $9.42 earlier today.

On Friday we are scheduled to get earnings from Dillard’s Inc. (NYSE: DDS), Jinkosolar Holding Co. Ltd. (NYSE: JKS), Nvidia Corp. (NASDAQ: NVDA), Progressive Corp. (NYSE: PGR), ReneSola Ltd. (NYSE: SOL), and Uranium Resources Inc. (NASDAQ: URRE).

Other standouts from today include the following stocks:

Monster Beverage Corp. (NASDAQ: MNST) is up 9.2% at $71.34 in a 52-week range of $32.35-$83.96. The energy drinks company posted strong results, but buyout rumors continue to lead the charge. More coverage here.

MEMC Electronic Materials Inc. (NYSE: WFR) is down -24.3% at $2.46 after posting a new 52-week low of $2.41 earlier today. The solar component supplier posted bad results and a weak outlook. More coverage here.

We also took a detailed look today at short interest in a number of stocks — big names, volume leaders, and cult stocks.

Stay tuned for Friday. Dallas Fed President Richard Fisher is giving a speech. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Producer price index
9:55 a.m. – Reuters/University of Michigan consumer sentiment

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMCX, DDS, HNR, JDSU, JKS, KSS, MMM, MNST, MT, NOV, ORCL, PGR, SOL, TEVA, URRE, WFR, WIN

24/7 Wall St. Closing Bell (AIG, COP, HSY, PSX, DMD, AOL, AGU, DTG, M, MPEL, TM, SODA, AMCX, MT, ESRX, MCP, JWN, NUAN, HNR, KSS, PEIX, CPWM, AMRS, ACI)

Paul Ausick — Wed, 09 May 2012 20:06:42 +0000

The major US stock indexes opened sharply lower again this morning as investors consider Greece’s commitment to the austerity measures it had previously agreed to. Renegotiating the deal seems out of the question (more coverage here) and there is even the threat that the EU will not pay the first tranche of the bailout deal when it is due tomorrow (more coverage here). US oil inventories rose last week, putting more pressure on prices today (more coverage here).The US dollar index rose today, now up 0.43% at 80.077. The GSCI commodity index is down -0.5% at 648.60, with commodities mixed on the stronger dollar. WTI crude oil closed down -0.5% at $96.71/barrel and Brent crude trades up 0.02% at $112.75/barrel. Gold settled down -0.6% today, at $1,594.20/ounce, the yellow metal’s first sub-$1,600/ounce closing since December.

The unofficial closing bells put the DJIA down nearly 97 points to 12,835.44 (-0.75%), the NASDAQ fell more than11 points (-0.39%) to 2,934.71, and the S&P 500 fell 0.67% or more than 9 points to 1,354.61.

There were several analyst upgrades and downgrades today, including American International Group Inc. (NYSE: AIG) raised to ‘buy’ at Goldman Sachs; ConocoPhillips (NYSE: COP) resumed as ‘neutral’ at Credit Suisse; The Hershey Co. (NYSE: HSY) raised to ‘buy’ at Argus; Phillips 66 (NYSE: PSX) started as ‘outperform’ at Credit Suisse; and Demand Media Inc. (NYSE: DMD) raised to ‘buy’ at Citigroup.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: AOL Inc. (NYSE: AOL) is up 3.8% at $26.55; Agrium Inc. (NYSE: AGU) is down -2.2% at $82.69 (more coverage here); Dollar Thrifty Automotive Group Inc. (NYSE: DTG) is up 0.2% at $80.68; Macy’s Inc. (NYSE: M) is down -3.6% at $38.07 (more coverage here); Melco Crown Entertainment Ltd. (NASDAQ: MPEL) is down -0.2% at $13.96; Toyota Motor Corp. (NYSE: TM) is up 3.1% at $80.58; and SodaStream International Ltd. (NASDAQ: SODA) is up 28% at $37.35.

On Wednesday we are scheduled to get earnings from AMC Networks Inc. (NASDAQ: AMCX), ArcelorMittal (NYSE: MT), Express Scripts Holding Co. (NASDAQ: ESRX), Molycorp Inc. (NYSE: MCP); Nordstrom Inc. (NYSE: JWN); Nuance Communications Inc. (NASDAQ: NUAN); Harvest Natural Resources Inc. (NYSE: HNR); Kohl’s Corp. (NYSE: KSS); and Pacific Ethanol Inc. (NASDAQ: PEIX).

Other standouts from today include the following stocks:

Cost Plus Inc. (NASDAQ: CPWM) is up 21.9% at $21.92 after posting a new 52-week high earlier today. The company is being acquired by Bed Bath & Beyond Inc. (NASDAQ: BBBY) for $495 million.

Amyris Inc. (NASDAQ: AMRS) is down -21.7% at $1.98 after posting a new 52-week low of $1.89 earlier today. The biofuels and biotech company posted much higher-than-expected shortfalls in both EPS and revenues.

Arch Coal Inc. (NYSE: ACI) is up 10.1% at $8.37. The coal miner had no news today, but investors are piling in at a very low price. Volume today topped 25 million shares, more than double Arch’s daily average.

Stay tuned for Thursday. Fed Chairman Ben Bernanke and Minneapolis Fed President Naryana Kocherlakota are giving speeches. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – International trade report
8:30 a.m. – New claims for unemployment benefits
10:30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – 30-year note auction
2:00 p.m. – Treasury budget
4:30 p.m. – Federal Reserve balance sheet and money supply

Paul Ausick

Filed under: General Tagged: ACI, AGU, AIG, AMCX, AMRS, AOL, BBBY, COP, CPWM, DMD, DTG, ESRX, HNR, HSY, JWN, KSS, M, MCP, MPEL, MT, NUAN, PEIX, PSX, SODA, TM

Top Analyst Upgrades & Downgrades (ALU, AMZN, APOL, MT, T, CY, DK, EBAY, ESRX, GOOG, HFC, JNS, LVS, LOGI, JWN, POT, VZ, WPO, WFM, YHOO)

Administrator — Thu, 29 Mar 2012 12:23:23 +0000

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

Alcatel-Lucent S.A. (NYSE: ALU) Maintained Sell with $2.00 target at S&P.

Amazon.com, Inc. (NASDAQ: AMZN) Started as Buy at ThinkEquity.

Apollo Group Inc. (NASDAQ: APOL) Cut to Hold at Argus.

ArcelorMittal (NYSE: MT) Raised to Neutral at BNP Paribas.

AT&T Inc. (NYSE: T) Cut to Neutral at Baird.

Cypress Semiconductor Corporation (NASDAQ: CY) Raised to Buy at Lazard (late Wednesday call).

Delek US Holdings Inc. (NYSE: DK) Raised to Outperform at Credit Suisse; named as value stock of the day at Zacks.

eBay Inc. (NASDAQ: EBAY) Started as Buy at ThinkEquity.

Express Scripts Inc. (NASDAQ: ESRX) Reiterated Buy and raised target from $65 to $67 at BofA/ML.

Google Inc. (NASDAQ: GOOG) Started as Buy at ThinkEquity.

HollyFrontier Corporation (NYSE: HFC) Cut to Neutral at Credit Suisse.

Janus Capital Group, Inc. (NYSE: JNS) Cut to Hold at Jefferies.

Las Vegas Sands (NYSE: LVS) Reiterated Buy and raised target from $60 to $65 at BofA/ML.

Logitech International (NASDAQ: LOGI) named Bear of the Day at Zacks.

Nordstrom Inc. (NYSE: JWN) Raised to Buy at Goldman Sachs.

Potash Corp. of Saskatchewan (NYSE: POT) Started as Buy at Stifel Nicolaus.

Verizon Communications Inc. (NYSE: VZ) Cut to Neutral at Baird.

The Washington Post Co. (NYSE: WPO) named Bull of the Day at Zacks.

Whole Foods Market, Inc. (NASDAQ: WFM) Cut to Neutral at Goldman Sachs.

Yahoo! Inc. (NASDAQ: YHOO) Started as Hold at ThinkEquity.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: ALU, AMZN, APOL, CY, DK, EBAY, ESRX, GOOG, HFC, JNS, JWN, LOGI, LVS, MT, POT, T, VZ, WFM, WPO, YHOO

Top Analyst Upgrades & Downgrades (ACC, AEP, MT, C, DLR, DNKN, GPC, IPG, LHO, SHLD, SGY, TYC, URI)

Administrator — Mon, 27 Feb 2012 13:17:32 +0000

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

American Campus Communities Inc. (NYSE: ACC) Raised to Buy at Argus.
American Electric Power (NYSE: AEP) Raised to Buy at Jefferies.
Arcelor Mittal (NYSE: MT) named as Bear of the Day at Zacks.
Citigroup, Inc. (NYSE: C) Added to U.S. Focus List at Credit Suisse.
Digital Realty Trust, Inc. (NYSE: DLR) Cut to Sector Perform at RBC.
Dunkin Brands Group, Inc. (NASDAQ: DNKN) Started as Buy at Citigroup.
Genuine Parts Co. (NYSE: GPC) named as Bull of the Day at Zacks.
Interpublic Group of Companies, Inc. (NYSE: IPG) Raised to Buy at Deutsche Bank.
LaSalle Hotel Properties (NYSE: LHO) Raised to Outperform at Wells Fargo.
Sears Holding Corporation (NASDAQ: SHLD) Maintained Underperform at Credit Suisse.
Stone Energy Corporation (NYSE: SGY) named as Value Stock of the Day at Zacks.
Tyco International. Ltd (NYSE: TYC) Raised to Outperform at Credit Suisse.
United Rentals Inc. (NYSE: URI) Started as Buy at Citigroup.

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 Tagged: ACC, AEP, C, DLR, DNKN, GPC, IPG, LHO, MT, SGY, SHLD, TYC, URI

Top Analyst Upgrades & Downgrades (ACOR, MT, BBBY, CHK, CLF, CMCSA, DELL, EMN, EPD, LEAP, PBR, RL, VLO, WYNN, ZNGA)

Administrator — Fri, 17 Feb 2012 13:09:29 +0000

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

Acorda Therapeutics, Inc. (NASDAQ: ACOR) Cut to Neutral at Citigroup.
Arcelor Mittal (NYSE: MT) named as Bear of the Day at Zacks.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) Reiterated Buy with $70 target at Argus.
Chesapeake Energy Corporation (NYSE: CHK) Raised to Buy at Stifel Nicolaus.
Cliffs Natural Resources Inc. (NYSE: CLF) Cut to Buy from Strong Buy at S&P Capital IQ.
Comcast Corporation (NASDAQ: CMCSA) Cut to Hold at Argus.
Dell Inc. (NASDAQ: DELL) Cut to Neutral at Baird.
Eastman Chemical Co. (NYSE: EMN) named as Bull of the Day at Zacks.
Enterprise Products Partners LP (NYSE: EPD) Reiterated Buy and target set at $61 by Argus.
Leap Wireless International (NASDAQ: LEAP) Cut to Neutral at Collins Stewart.
Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, Cut to Equalweight at Barclays.
Polo Ralph Lauren Corporation (NYSE: RL) Raised to Buy with $202 target at Argus.
Valero Energy Corporation (NYSE: VLO) Cut to Neutral at UBS.
Wynn Resorts Ltd. (NASDAQ: WYNN) Reiterated Outperform with $145 target at Credit Suisse.
Zynga, Inc. (NASDAQ: ZNGA) named as Aggressive Growth stock of the day at Zacks.

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: ACOR, BBBY, CHK, CLF, CMCSA, DELL, EMN, EPD, LEAP, MT, PBR, RL, VLO, WYNN, ZNGA

Top Analyst Upgrades & Downgrades (NLY, MT, BP, CBOE, DMD, RDY, ING, MS, NOV, OPEN, SOHU, UBS, VSH, YUM)

Administrator — Wed, 08 Feb 2012 13:18:44 +0000

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

Annaly Capital Management Inc. (NYSE: NLY) Cut to Market Perform at FBR.
ArcelorMittal (NYSE: MT) Cut to Sell at S&P Capital IQ.
BP PLC (NYSE: BP) Raised Estimates by UBS; Cut to Hold at Soc-Gen.
CBOE Holdings, Inc. (NASDAQ: CBOE) Cut to Underperform at KBW.
Demand Media Inc. (NYSE: DMD) Cut to Underweight at Morgan Stanley.
Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) Cut to Neutral at Credit Suisse.
ING Group, N.V. (NYSE: ING) Cut to Neutral at Goldman Sachs.
Morgan Stanley (NYSE: MS) Cut to Hold at Collins Stewart.
National Oilwell Varco Inc. (NYSE: NOV) raised target to $96 at Argus.
OpenTable Inc. (NASDAQ: OPEN) Cut to Perform at Oppenheimer; Cut to Neutral at Credit Suisse; Raised to Overweight at Piper Jaffray.
Sohu.com Inc. (NASDAQ: SOHU) lowered targets by Credit Suisse and Nomura.
UBS AG (NYSE: UBS) Cut to Sell at Deutsche Bank.
Vishay Intertechnology, Inc. (NYSE: VSH) Raised to Overweight at JPMorgan.
Yum! Brands Inc. (NYSE: YUM) Raised to Neutral at Goldman Sachs.

Credit Suisse makes a change to its favorite biotech list.

If you enjoyed the top analyst calls, 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: BP, CBOE, DMD, ING, MS, MT, NLY, NOV, OPEN, RDY, SOHU, UBS, VSH, YUM

24/7 Wall St. Closing Bell (SIRI, IBM, AZN, URBN, ZOLT, YUM, MT, BP, KO, EMR, LPX, MNI, CSTR, SPF, NSU, BPAX)

Paul Ausick — Tue, 07 Feb 2012 21:06:42 +0000

US equity markets opened lower this morning, but after the first hour or so of trading, the three major indexes moved to positive territory where they remained for the rest of the day. There was talk that a deal was forthcoming on the Greek debt swap deal, but that did not materialize. Maybe tomorrow? Fed Chairman Ben Bernanke didn’t have anything new to say to the US Senate committee this morning, and today’s earnings reports didn’t impress traders much either. A late day report on a big jump in December levels of consumer credit has given the market a small jolt in the last hour of trading. Crude oil is up today, with WTI crude up sharply by 1.82% at $98.67/barrel and Brent crude up 0.23% at $116.20/barrel. Gold closed up 1.4% at $1,748.40/ounce.

The unofficial closing bells put the DJIA up more than 33 points to 12,878.43 (0.26%), the NASDAQ rose more than 2 points (0.07%) to 2,904.08, and the S&P 500 rose 0.20% or nearly 3 points to 1,347.05.

There were several analyst upgrades and downgrades today, including Sirius XM Radio Inc. (NASDAQ: SIRI) started as ‘underweight’ at Barclays; IBM Corp. (NYSE: IBM) started as ‘buy’ with a $230 target price at Sterne Agee (our coverage here); AstraZeneca (NYSE: AZN) cut to ‘underperform’ at BofA/ML; Urban Outfitters Inc. (NASDAQ: URBN) cut to ‘sell’ at Brean Murray; and Zoltek Cos. Inc. (NASDAQ: ZOLT) cut to ‘underperform’ at Needham (our coverage here).

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Yum! Brands Inc. (NYSE: YUM) is up 2.67% at $64.88 after posting a new 52-week high of $65.79 earlier today; ArcelorMittal AS (NYSE: MT) is up 3.5% at $22.19; BP plc (NYSE: BP) is down -0.41% at $46.68; Coca-Cola Co. (NYSE: KO) is up 1% at $68.71 (our coverage here); Emerson Electric Co. (NYSE: EMR) is down -2.6% at $51.99; and Louisiana-Pacific Corp. (NYSE: LPX) is down -6.5% at $8.31 (our coverage here).

Our preview of tomorrow’s earnings releases is here.

Other standouts from today include the following stocks:

The McClatchy Co. (NYSE: MNI) is up 21% at $2.71. The newspaper company reported stronger-than-expected earnings today on cost-cutting.

Coinstar Inc. (NASDAQ: CSTR) is up 16.5% at $58.90 after posting a new 52-week high of $60.81 earlier today. The video rental company will join with Verizon Communications Inc. (NYSE: VZ) to offer a streaming video service to compete with Netflix Inc. (NASDAQ: NFLX) and others. More coverage here and here.

Standard Pacific Corp. (NYSE: SPF) is up 15.8% at $4.69 after posting a new 52-week high of $4.85 earlier today. The homebuilder posted good earnings today and reported that orders are up 8% in January.

Nevsun Resources Ltd. (AMEX: NSU) is down more than -30% at $4.43. The junior gold miner issued a preliminary 2012 outlook that included a sharp drop in production and in its reserves estimates.

BioSante Pharmaceuticals Inc. (NASDAQ: BPAX) is down more than -18% at $0.86. The company is the target of a new lawsuit charging it with misrepresentation. We have more coverage of BioSante here.

Stay tuned for Wednesday. San Francisco Federal Reserve president John Williams is giving a speech. We have noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications report
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – Treasury 10-year note auction

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AZN, BP, BPAX, CSTR, EMR, IBM, KO, LPX, MNI, MT, NSU, SIRI, SPF, URBN, YUM, ZOLT

Top Analyst Upgrades & Downgrades (ADTN, AAP, APD, MT, ADP, BKU, BA, CATM, CSH, CVX, C, HGSI, LAMR, MA, RSH, SMG, UBS, VE, V, WFT, BRCM)

Administrator — Thu, 19 Jan 2012 13:14:47 +0000

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

ADTRAN, Inc. (NASDAQ: ADTN) Cut to Hold at Needham Research.
Advance Auto Parts (NYSE: AAP) Raised to Outperform at Credit Suisse.
Air Products and Chemical, Inc. (NYSE: APD) Cut to Neutral at JPMorgan.
Arcelor Mittal (NYSE: MT) Cut to Neutral at HSBC.
Automatic Data Processing. Inc. (NYSE: ADP) Started as Outperform at Credit Suisse.
BankUnited, Inc. (NYSE: BKU) Cut to Neutral at BofA/ML.
Boeing Co. (NYSE: BA) Cut to Sell at Societe Generale.
Cardtronics, Inc. (NASDAQ: CATM) Started as Outperform at Credit Suisse.
Cash America International (NYSE: CSH) Raised to Buy at Sterne Agee.
Chevron Corporation (NYSE: CVX) maintained Buy with $130 target but cut estimates at Argus.
Citigroup, Inc. (NYSE: C) Maintained Sell at Argus.
Human Genome Sciences Inc. (NASDAQ: HGSI) Started as Buy with $14 price target at Maxim.
Lamar Advertising Co. (NASDAQ: LAMR) maintained as Outperform and named as the Bull of the Day at Zacks.
MasterCard Inc. (NYSE: MA) Started as Outperform at Credit Suisse.
RadioShack Corporation (NYSE: RSH) Cut to Underperform at Credit Suisse.
Scotts Miracle-Gro (NYSE: SMG) Cut to Underperform at BMO Capital.
UBS AG (NYSE: UBS) Raised to Overweight at Morgan Stanley.
Veolia Environnement (NYSE: VE) Cut to Neutral at HSBC.
Visa, Inc. (NYSE: V) Started as Outperform at Credit Suisse.
Weatherford International Inc. (NYSE: WFT) named as value stock of the day at Zacks.

Read Also: Jim Cramer touts Broadcom Corporation (NASDAQ: BRCM) as a cheap catch-up semiconductor stock. This creates a chart versus fundamental event in price.

JON C. OGG

Filed under: Analyst Calls Tagged: AAP, ADP,, ADTN, APD, BA, BKU, BRCM, C, CATM, CSH, CVX, HGSI, LAMR, MA, MT, RSH, SMG, UBS, V, VE, WFT

Weak Coal Demand Driving Fear (PCX, ANR, JRCC, MT, X, AKS)

Paul Ausick — Fri, 13 Jan 2012 16:23:08 +0000

US coal miner Patriot Coal Corp. (NYSE: PCX) said this morning that it was closing three of its contractor-operated coal mines and two production units in West Virginia “in response to weaker market demand for metallurgical coal.” The announcement has pushed shares down about -10%. Met coal miners Alpha Natural Resources Inc. (NYSE: ANR) and James River Coal Corp. (NASDAQ: JRCC) are also getting hit, as are steel makers Arcelor Mittal (NYSE: MT), US Steel Corp. (NYSE: X), and AK Steel Holding Corp. (NYSE: AKS), which use metallurgical coal to make steel.

Patriot Coal officials said demand for met coal has weakened in the last few weeks, especially export demand. Demand from China, the world’s largest importer of met coal, is expected to remain weak through the first half of the year, although demand is expected to rise in the second half as Chinese and European economies begin to grow again. Total consumption of met coal could fall by 13 million metric tons in 2012.

In the late morning, Patriot Coal shares are down more than -9% at $8.18 in a 52-week range of $6.92-$29.20.

Shares in Alpha are down nearly -8% at $20.76 in a 52-week range of $15.49-$62.65.

James River shares are down more than -8% at $6.77 in a 52-week range of $5.41-$25.59.

Steel maker Arcelor Mittal is down nearly -2%, while US Steel and AK Steel are both down about -3%.

Paul Ausick

Filed under: China, Earnings Warning, International Markets, Metals Tagged: AKS, ANR, JRCC, MT, PCX, X