Posts for Ticker ‘OMX’

Top 10 Analyst Upgrades and Downgrades (ARIA, RATE, IRM, ISLN, MOT, OMX, RTP, SYNA, VSEA, DIS)

These are ten of the top pre-market analyst calls with upgrads and downgrades that we have seen from Wall Street early this Friday morning:

Ariad pharmaceuticals (ARIA) Cut to Sell at Merriman Curhan Ford.
Bankrate (RATE) Cut to Hold at Jefferies.
Iron Mountain (IRM) Cut to Neutral at Baird.
Isilon Systems (ISLN) Raised to Buy at ThinkEquity; Raised to Buy at Needham.
Motorola (MOT) Raised to Outperform at Morgan Keegan.
OfficeMax (OMX) Raised to Buy at Citigroup.
Rio Tinto (RTP) Cut to Neutral at Credit Suisse.
Synaptics (SYNA) Cut to Hold at Jefferies.
Varian Semiconductor (VSEA) Raised to Buy at UBS.
Walt Disney (DIS) Cut to Underweight at JPMorgan.

Jon C. Ogg
July 31, 2009

Posted on: July 31, 2009 – 8:07 am in Analyst Calls, , , , , , , , , ,

Private Equity To Office Depot Rescue (ODP, OMX, SPLS)

Money Stack ImageOffice Depot, Inc. (NYSE: ODP) has recovered substantially off of its March lows, but the stock is bruised and battered when you consider it hit $40.00 in late 2006.  But this morning the office supply store chain announced that funds advised by BC Partners, an international private equity firm, had invested $350 million in the company.  This may even have some implications for the competition with OfficeMax Inc. (NYSE: OMX) and Staples, Inc. (NASDAQ: SPLS).
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Posted on: June 23, 2009 – 8:38 am in Business Services, Private Equity, Secondary Offering, , ,

Top Analyst Upgrades (BBBY, MAPP, ISLE, OMX, PCZ, RF, SPLS, SYMC)

These are the top pre-market analyst upgrades and positive research calls we have seen from Wall Street firms this Wednesday morning:

Bed Bath & Beyond (BBBY) Started as Outperform at Oppenheimer.
MAP Pharmaceuticals (MAPP) Raised to Buy at Deutsche Bank.
Isle of Capri (ISLE) Raised to Outperform at oppenheimer.
OfficeMax (OMX) Started as Outperform at Oppenheimer.
Petro-Canada (PCZ) Raised to Overweight at Barclays.
Regions Financial (RF) Raised to Buy at Deutsche Bank.
Staples (SPLS) Started as Outperform at Oppenheimer.
Symantec (SYMC) Raised to Outperform at Morgan Keegan.

JON C. OGG

Posted on: May 27, 2009 – 6:58 am in Analyst Calls, , , , , , , ,

The 52-Week Low Club 10/3/2008 (AAPL)(YRCW)(MGM)(LVS)(OMX)(FR)(IAR)

Sad_clownIdearc Inc (IAR) No major news. Off to $.78 from 52-week high of $32.52.

First Industrial Realty (FR) Cuts guidance and plunges to $18.32 from 52-week high of $42.71.

Officemax (OMX) Office supply stocks hit by bad economy. Drops to $7.04 from 52-week high of $34.64.

Las Vegas Sands (LVS) Analyst cuts price target. Sells down to $22.87 from 52-week high of $148.76.

MGM Mirage (MGM) Trouble in Macau hurts most stocks in sector. And, who has money to gamble? Dips to $20.28 from 52-week high of $100.50.

Yrc Worldwide (YRCW) Truck company borrows from credit line. Down to $7.44 from 52-week high of $28.83.

Apple (AAPL) Rumors about Jobs health. Dips to $94.85 from 52-week high of $202.96.

Douglas A. McIntyre

Posted on: October 3, 2008 – 2:51 pm in HI/LOW, , , , , , ,

OfficeMax Destroyed On Lehman Exposure & Late Downgrade (OMX)

Officemax_logoOfficeMax Inc. (NYSE: OMX) somehow managed to not notice the major stock market rally.  Its shares plunged 29% to $9.38 on 1.5-times an entire day’s average trading volume.  Friedman Billings Ramsey downgraded the stock this morning to a "market perform" rating" from "outperform."  Apparently, the brokerage firm realized that there is a slowdown in office spending for office supplies.  It slashed its price target from $18.00 to $12.00.

Another and perhaps larger component of today’s drop is that yesterday the office supplies retailer disclosed that one of its units has securitization notes guaranteed by Lehman.  No payment default has occurred. Here are the full details.  The 52-week trading range on this stock was $10.89 to $34.89.  Shares are being excessively.  The Lehman exposure looks rather large, although this downgrade looks very late.

Jon C. Ogg
September 19, 2008

Posted on: September 19, 2008 – 9:31 am in Analyst Calls, Retail,

Top Pre-Market Analyst Upgrades (HD, ILMN, MFE, NAV, OMX, VTA, VRNM, WAT)

These are some of the top upgrades or positive calls we are seeing from analysts this Friday morning:

  • Home Depot (HD) Started as Outperform at FBR.
  • Illumina (ILMN) Started as Overweight at Morgan Stanley.
  • McAfee (MFE) Started as Buy at American Technology & Research.
  • Navistar (NAV) Raised to Overweight at JPMorgan.
  • OfficeMax (OMX) Started as Outperform at FBR.
  • Van Kampe Dynamic Credit Fund (VTA) Started as Perform at Oppenheimer.
  • Verenium (VRNM) Started as Buy at Lazard.
  • Waters Corp. (WAT) Started as Overweight at Morgan Stanley.

Jon C. Ogg
September 5, 2008

Posted on: September 5, 2008 – 6:59 am in Analyst Calls, , , , , , , ,

Top 10 Pre-Market Analyst Downgrades (ACE, DRIV, EIG, PAC, INTU, NOK, NCX, OMX, VMW)

There are many research calls out this morning. Here are ten downgrades or negative analyst calls we are monitoring this morning:

  • ACE Ltd. (NYSE: ACE) Cut To Hold From Buy By Citigroup.
  • Digital River (NASDAQ: DRIV) Downgraded to Sell from Neutral at Goldman Sachs.
  • Employers Holdings (NYSE: EIG) Downgraded to Market Perform at KBW.
  • Grupo Aeroportuario del Pacifico (NYSE: PAC) Downgraded to Sell at Citigroup.
  • Intuit (NASDAQ: INTU) Downgraded to Sell from Neutral at Goldman Sachs.
  • Nokia (NYSE: NOK) lowered price target but maintained Buy at Merrill Lynch.
  • NOVA Chemicals (NYSE: NCX) Downgraded to Sell at Citigroup.
  • OfficeMax (NYSE: OMX) Downgraded to Neutral from Buy at Piper Jaffray.
  • VMware (NYSE: VMW) Downgraded to Hold at Jefferies (may be yesterday afternoon call).

Jon C. Ogg
July 9, 2008

Posted on: July 9, 2008 – 6:22 am in Analyst Calls, , , , , , , , ,

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

Posted on: December 28, 2007 – 3:01 pm in HI/LOW, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

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

Posted on: December 27, 2007 – 4:01 pm in HI/LOW, , , , , , , , , , , , , , , ,

52-Week Low Club (BIG, BONT, CHS, M, OMX, SSI, HOT, ZLC, RT, F, WM, BSC)

We didn’t include only retail names on the 52-week lows today, but it could have been easy to do.  The retail scene just didn’t do too hot over Christmas and these are pying the price.  The good news is that many of these names bounced back above their 52-week lows.

Here are the retail names alone:

  • Big Lots (NYSE: BIG) still slurping.
  • Bon Ton Stores (NASDAQ:BONT)
  • Chico’s FAS (NYSE: CHS)
  • Macy’s (NYSE: M)
  • Office Max (NYSE: OMX)
  • Stage Stores (NYSE:SSI)
  • Starwood Hotels (NYSE: HOT)
  • Zale’s (NYSE: ZLC)

Ford (NYSE: F) merely touched on its 52-week lows but didn’t put in any new 52-week lows.  Maybe this one isn’t quite retail, but it sure reflects a weak consumer. 

Ruby Tuesday (NYSE:RT) is in the same boat as it isn’t a retail store but is consumer discretionary (and the food is nothing special).

A couple surprise financial names are on today’s list, although maybe it isn’t that large of a surprise.  Bear Stearns (NYSE: BSC) didn’t stay that low, but it was looking dismal this morning.  Washington Mutual (NYSE:WM) also didn’t stay that low but this morning was looking a bit harsh for WA-MU.

Jon C. Ogg
December 26, 2007

Posted on: December 26, 2007 – 2:18 pm in HI/LOW, Retail, , , , , , , , , , , ,

Will Saber Rattling Kill NASDAQ/OMX/LSE/Dubai Deal? (NDAQ, NYX, C)

The NASDAQ Stock Market (NASDAQ:NDAQ) has been in a long hunt over how it plans to grow and compete in a new world of mega-exchanges, and frankly its second place status in the U.S. for stocks is one that it would acknowledge is far from that of the NYSE Euronext (NYSE:NYX).  It was unsuccessful in its buyout of the London Stock Exchange.  Then it focused on the Nordic OMX, only to get a rival bid over OMX from Borse Dubai.  The NASDAQ finally reached a deal that can be secured, but the much needed help that arrived may have been slapped in the face by observers.

The NASDAQ yesterday reached a mutual deal with Borse Dubai that will allow it to gain control of the OMX.  In exchange, NASDAQ is giving up most of its holding (appears to be a 28% stake of 31.5%) in the London Stock Exchange.  But NASDAQ is also kicking in a 20% stake of its own stock.  The NASDAQ purchase price would be equivalent to about $41.00 per per share, and it appears this is for only a 5% voting stake with an ‘independent trustee’ holding the rest. NASDAQ will also get a stake in Borse Dubai, but we are going to stop there. because this is starting to sound like a monopoly game where the second and third tier players gang up on the likely winner. 

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Posted on: September 20, 2007 – 5:55 pm in Exchange News, Financial Stocks, Regulation, , , , , , , , ,

Pre-Market Analyst Calls (August 2, 2007)

AAPL started as Buy at B of A.
ALVR raised to Buy at First Albany.
BARE cut to Sector Perform at CIBC.
BRCM raised to Outperform at CIBC.
COCO raised to equal weight at Lehman, raised to Outperform at Piper Jaffray.
DB cut to Peer Perform at BEar Stearns.
DELL started as Buy at B of A.
DJ raised to Equal Weight at Lehman.
EDS cut to Hold at Jefferies.
ENDP cut to Neutral at UBS.
FCH raised to Outperform at Wachovia.
GMR raised to Outperform at Bear Stearns.
GYI cut to Sell at Deutsche Bank.
HPQ started as Buy at B of A.
IBM started as Neutral at B of A.
MI raised to Buy at Deutsche Bank.
MRVL cut to Sector Perform CIBC.
MVIS started as Buy at Merriman Curhan Ford.
OMX raised to Overweight at JPMorgan.
Q raised to Outperform at CIBC.
SUNW started as Buy at B of A.
SYMC raised to Outperform at Baird, raised to Outperform at FBR.
ZGEN raised to Buy at B of A.

Jon C. Ogg
August 2, 2007

Posted on: August 2, 2007 – 7:02 am in Analyst Calls, , , , , , , , , , , , , ,