24/7 Wall St. » PAY

24/7 Wall St. Closing Bell — May 25, 2012 (EBAY, LULU, SI, CRM, FSLR, CRMT, MENT, POST, FRO, AMSC, DRYS, KUTV, SAFM, SHIP, GAME, TLB, PAY, FB)

Paul Ausick — Fri, 25 May 2012 18:04:01 +0000

Today’s edition of the Closing Bell is being published shortly after 2:00 p.m. US markets are closed Monday to observe the Memorial Day holiday. We’ll resume our normal schedule next Tuesday.

The three major US stock indexes opened marginally higher this morning as more European countries come out in support of a eurobond, a proposal Germany has flatly declined to discuss. The impasse weighed on European markets and the weight crossed the Atlantic when US markets opened today. The only new data point in the US today was better-than-expected reading on Reuters/University of Michigan consumer sentiment index (our coverage here). The US dollar index rose today, now up 0.07% at 82.406. The GSCI commodity index is up fractionally at 618.78, with commodities prices mixed. WTI crude oil is trading up 0.12% at $90.77/barrel, and Brent crude trades up 0.31% at $106.88/barrel. Natural gas fell -4.4% today to $2.53/thousand cubic feet. Gold is trading up 0.52% today, at $1,567.90/ounce.

At 2:00 p.m. ET, the DJIA is down about 45 points at 12,484.68 (-0.36%), the NASDAQ is up more than 3 points (0.12%) at 2,842.72, and the S&P 500 is down -0.02% or less than 1 point at 1,320.43.

There were several analyst upgrades and downgrades today, including Ebay Inc. (NASDAQ: EBAY) maintained as ‘buy’ with a target price of $44 at BofA/ML; Lululemon Athletica (NASDAQ: LULU) cut to ‘hold’ at KeyBanc; Siemens AG (NYSE: SI) raised to ‘buy’ at Deutsche Bank; Salesforce.com (NYSE: CRM) raised to ‘outperform’ at Oppenheimer; and First Solar Inc. (NASDAQ: FSLR) maintained as ‘buy’ with a target price of $30 at BofA/ML.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: America’s Car-Mart Inc. (NASDAQ: CRMT) is down -7.8% at $41.52; Mentor Graphics Inc. (NASDAQ: MENT) is down -12.7% at $13.28; Post Holdings Inc. (NYSE: POST) is up 6.8% at $29.89; and Frontline Ltd. (NYSE: FRO) is up 8.8% at $5.42.

On Tuesday, we are scheduled to get earnings reports from American Superconductor Corp. (NASDAQ: AMSC), DryShips Inc. (NASDAQ: DRYS), Ku6 Media Co. Ltd. (NASDAQ: KUTV), Sanderson Farms Inc. (NASDAQ: SAFM), Seanergy Maritime Holdings Group Corp. (NASDAQ: SHIP), and Shanda Games Ltd. (NASDAQ: GAME).

We’ve also reviewed this week some potential value stocks among major oil companies, gold & silver miners, conglomerates, industrials, retail, semiconductor, and solar stocks.

Other standouts from today include the following stocks:

The Talbots Inc. (NYSE: TLB) is down -38.9% at $1.57. The clothing retailer failed to reach a deal with a potential private equity buyer.

Verifone Systems Inc. (NYSE: PAY) is down -15% at $38.27. The electronic payment systems company forecast a weaker-than-expected third quarter.

Facebook Inc. (NASDAQ: FB) is down -3.8% at $31.78. The social network company continues to seek a floor for its stock price.

Stay tuned for Tuesday. US markets are closed Monday to observe the Memorial Day holiday. We have also noted the following events on the schedule for Tuesday (all times Eastern):

9:00 a.m. – S&P Case-Schiller housing price index
10:00 a.m. – Conference Board consumer confidence survey
10:00 a.m. – State Street investor confidence index
10:30 a.m. – Dallas Fed manufacturing survey
11:30 a.m. – 3- and 6-month bill auction

Have a great long weekend.

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMSC, CRM, CRMT, DRYS, EBAY, FB, FRO, FSLR, GAME, KUTV, LULU, MENT, PAY, POST, SAFM, SHIP, SI, TLB

The Top Earnings Previews For The Week Ahead (TECD, URBN, AZO, BBY, DELL, PETM, RL, BIG, HPQ, NTAP, P, TOL, COST, TIF, PAY)

Administrator — Fri, 18 May 2012 14:09:16 +0000

24/7 Wall St. has compiled earnings previews for some of the top companies reporting in the week ahead. Estimates have been taken from Thomson Reuters for consensus earnings and targets and we have added in color on some companies if applicable.

These are some of the focus companies reporting earnings in the coming week: Tech Data Corporation (NASDAQ: TECD); Urban Outfitters Inc. (NASDAQ: URBN); Autozone Inc. (NYSE: AZO); Best Buy Co. Inc. (NYSE: BBY); Dell Inc. (NASDAQ: DELL); PetSmart Inc. (NASDAQ: PETM); Ralph Lauren Corporation (NYSE: RL); Big Lots Inc. (NYSE: BIG); Hewlett-Packard Co. (NYSE: HPQ); NetApp Inc. (NASDAQ: NTAP); Pandora Media Inc. (NYSE: P); Toll Brothers Inc. (NYSE: TOL); Costco Wholesale Corporation (NASDAQ: COST); Tiffany & Co. (NYSE: TIF); and VeriFone Systems Inc. (NYSE: PAY).

MONDAY, MAY 21

Tech Data Corporation (NASDAQ: TECD) is set to report and show how the outlook is for the companies which actually distribute all of the technology components and finished smartphones and consumer electronics devices around the world. Shares were recently under $48 and the 52-week range is $38.21 to $59.29. The consensus estimate is $1.16 EPS and $6.18 billion in revenue.

Urban Outfitters Inc. (NASDAQ: URBN) is going to show if its turnaround is closer or just still chugging along. Estimates are $0.20 EPS and $579.2 million in revenue. Shares were recently around $25.50 and the 52-week range is $21.47 to $33.90; the consensus target price is about $29.70.

TUESDAY, MAY 22

Autozone Inc. (NYSE: AZO) took it hard on the chin recently when rival Advance Auto warned of a difficult second quarter. This is one of the high-priced stocks and shares are around $366 against a 52-week range of $266.25 to $399.10. The consensus analyst target price is $419.80; estimates are $6.25 EPS and $2.13 billion in revenue; next quarter estimates are $8.47 EPS and $2.84 billion in revenue.

Best Buy Co. Inc. (NYSE: BBY) is in such disarray that we won’t even bother with the warnings and the caveats here. Estimates are $0.60 EPS.

Dell Inc. (NASDAQ: DELL) is now trading at only about 7.5-times forward earnings. Estimates are $0.46 EPS and $14.89 billion in sales. Earnings have been choppy on guidance but the PC makers and components makers are all talking up the release of Windows 8 as a new catalyst. With shares trading just under $15.00, the 52-week range is $13.29 to $18.36 and the consensus price target is almost $19.50.

PetSmart Inc. (NASDAQ: PETM) has been a steady “beat earnings and raise guidance” outfit as Americans will pay endless and countless dollars on Fido and Fifi. Estimates are $0.73 EPS and $1.6 billion in revenue. With shares around $56.00, the 52-week high is $59.36.

Ralph Lauren Corporation (NYSE: RL) has sold off nearly $40 from its highs since March. The question is how its business has been holding up in slowing markets even if the U.S. sales have been strong. Estimates are $0.83 EPS and $1.6 billion in sales. With shares around $143 the 52-week range is $105.00 to $182.48 and the consensus price target from analysts is just over $190.00.

WEDNESDAY, MAY 23

Big Lots Inc. (NYSE: BIG) should be called “Warning Lots” because it has lowered guidance and been hard on two different waves. With shares under $35 and against a high of $47.22, the premium values of the dollar stores may and discounters may be hurting here. On the flip side, the bar has been set extremely low. Estimates are $0.69 EPS and $1.3 billion in revenue.

Hewlett-Packard Co. (NYSE: HPQ) is now around the $22 handle and the news of another 25,000 or more in layoffs (versus 350K as of October 31, 2011) is not helping the growth hopes. Estimates are $0.91 EPS and $29.92 billion in sales. The stock now trades at about 6-times earnings, but the consensus price target is down to just over $29.00 as no one wants to pay up for the valuation of this DJIA component.

NetApp Inc. (NASDAQ: NTAP) has been pounded and the last 45 days has looked like a downward staircase on its chart. At about $34.00, the 52-week range is $33.00 to $56.49 and the consensus price target objective is just over $47.00.

Pandora Media Inc. (NYSE: P) is no longer market-influencing, but it is a cult stock and the earnings could create a large gain or a large drop. With shares under $10.50, the post IPO range is $7.83 to $26.00. Estimates are -$0.17 EPS and $74.3 million in revenue. Can the company make it to profitability by the end of next year?

Toll Brothers Inc. (NYSE: TOL) is expected to be profitable. A profitable homebuilder! At $25.50, the 52-week range is $13.16 to $27.80. A lot of good news already has to be priced in, so we would want to expect upside to remain positive here. Estimates are $0.04 EPS and $381.9 million in revenue.

THURSDAY, MAY 24

Costco Wholesale Corporation (NASDAQ: COST) almost always beats its earnings estimates. At $83.75 the 52-week range is $70.22 to $92.10; analysts have a target price of $86.80 or so. Estimates are $0.87 EPS and $22.1 billion in revenue.

Tiffany & Co. (NYSE: TIF) has come off of its highs significantly and this is the king of jewelry stores for investors. There will have been two smaller reports ahead of Tiffany in the week with Fred’s and Zale. Estimates for Tiffany are $0.69 EPS and $816.8 million. With shares under $61.00, the 52-week range is $56.21 to $84.49 and the consensus price target is $75.63.

VeriFone Systems Inc. (NYSE: PAY) has pulled back by about 20% from its highs, but the woes of the company seem to be behind it. At $44.80, the 52-week range is $30.25 to $55.89 and the consensus analyst price target is $54.10. Estimates are $0.61 EPS and $471.5 million in revenue.

As a reminder, dates and estimates can change ahead of earnings and some may have already changed.

JON C. OGG

Filed under: Calendar, Earnings, The Week Tagged: AZO, BBY, BIG, COST, DELL, HPQ, NTAP, P, PAY, PETM, RL, TECD, TIF, TOL, URBN

24/7 Wall St. Closing Bell (TRP, DMD, ARII, CHK, KFT, DG, KALU, LDK, HUM, SNH, SOHU, ACI, ADM, RATE, BRCM, DPZ, ODP, PFE, SIRI, VLO, BKS, SUN, PAY)

Paul Ausick — Mon, 30 Apr 2012 20:13:01 +0000

The major US stock indexes opened slightly lower this morning and continued drifting lower all day. The Chicago PMI report got the day started on the wrong foot, showing a decline in spending even though personal income rose in March (our coverage here). Spain’s slip into recession did not help (our coverage here) and a report on global unemployment doesn’t offer much hope for economic expansion (our coverage here). The US dollar index rose slightly today, now up 0.05% at 78.780. The GSCI commodity index is up 0.35% at 684.45, with commodities mixed. Cocoa and orange juice posted sharp declines today. WTI crude oil closed down -0.1% at $104.87/barrel, and Brent crude trades down -0.24% at $119.54/barrel. Gold settled down less than -0.1% today, at $1,664.20/ounce, and an overall loss for the month of April of -0.5%.

The unofficial closing bells put the DJIA down nearly 15 points to 13,213.63 (-0.11%), the NASDAQ fell nearly 23 points (-0.74%) to 3,046.36, and the S&P 500 fell -0.39% or more than 5 points to 1,397.91.

There were several analyst upgrades and downgrades today, including Demand Media Inc. (NYSE: DMD) cut to ‘equal weight’ at Evercore; TransCanada Corp. (NYSE: TRP) cut to ‘hold’ at Desjardins; American Railcar Industries Inc. (NASDAQ: ARII) raised to ‘neutral’ at UBS; Chesapeake Energy Corp. (NYSE: CHK) raised to ‘outperform’ at BMO Capital; Kraft Foods Inc. (NYSE: KFT) raised to ‘overweight’ at JPMorgan; Dollar General Corp. (NYSE: DG) raised to ‘strong buy’ at Raymond James; and Kaiser Aluminum Corp. (NASDAQ: KALU) raised to ‘buy’ at Dahlman Rose.

Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: LDK Solar Co. Ltd. (NYSE: LDK) is up 10.8% at $3.28 (our coverage here); Humana Inc. (NYSE: HUM) is down -8.4% at $80.49; Senior Housing Properties Trust (NYSE: SNH) is up 0.32% at $22.09; and Sohu.com Inc. (NASDAQ: SOHU) is down -7.4% at $51.62.

Tomorrow we get earnings from Arch Coal Inc. (NYSE: ACI), Archer Daniels Midland Co. (NYSE: ADM), Bankrate Inc. (NASDAQ: RATE), Broadcom Corp. (NASDAQ: BRCM), Chesapeake Energy Corp., Domino’s Pizza Inc. (NYSE: DPZ); Office Depot Inc. (NYSE: ODP); Pfizer Inc. (NYSE: PFE); Sirius XM Radio Inc. (NASDAQ: SIRI); and Valero Energy Corp. (NYSE: VLO).

Other standouts from today include the following stocks:

Barnes & Noble Inc. (NYSE: BKS) is up about 54% at $21.07 after posting a new 52-week high of $26.00 earlier today. The company has created a joint venture with Microsoft Corp. (NASDAQ: MSFT). More coverage here.

Sunoco Inc. (NYSE: SUN) is up 19.5% at $48.89 after posting a new 52-week high of $49.50 earlier today. The company is merging with Energy Transfer Partners L.P. in a deal worth about $5.3 billion. More coverage here.

VeriFone Systems Inc. (NYSE: PAY) is down -12.7% at $47.52. The company’s stock was downgraded at Deutsche Bank, along with comments that the company was inflating its organic growth estimates.

Stay tuned for Tuesday. Richmond Fed President Jeffrey Lacker, Minneapolis Fed President Naryana Kocherlakota, San Francisco Fed President John Williams, and Philadelphia Fed President Charles Plosser are all giving speeches. Motor vehicle sales are expected to be reported throughout the day. We have noted the following events on the schedule (all times Eastern):

10:00 a.m. – Institute for Supply Management manufacturing index
10:00 a.m. – Construction spending
11:30 a.m. – 4- and 52-week bill auctions

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ACI, ADM, ARII, BKS, BRCM, CHK, DG, DMD, DPZ, HUM, KALU, KFT, LDK, ODP, PAY, PFE, RATE, SIRI, SNH, SOHU, SUN, TRP, VLO

24/7 Wall St. Closing Bell (GOOG, YNDX, LULU, AMGN, NLY, BDE, FTEK, HK, PAY, DKS, IRDM, SSI, MTN, VRML, EBTX, XOMA, ONTY, ZLTQ)

Paul Ausick — Tue, 06 Mar 2012 21:05:54 +0000

The three major US equities indexes opened sharply lower this morning and the slide continued pretty much without interruption all day. About half an hour before closing, all three indexes are down more than -1.5% and today looks headed for the worst day for the markets so far this year. A projected -0.3% contraction in eurozone GDP coupled with a slowdown of GDP growth in China to its lowest level in eight years got equities off on the wrong foot this morning, and there was simply no news good enough to turn things around. The dollar opened stronger today, and has continue to gain strength with the dollar index currently up 0.66% at 79.821. The stronger dollar weighed on crude prices, pushing WTI down -1.9% to $104.70/barrel and Brent down -1.51% at $121.93/barrel. Gold settled down -1.9% at $1,672.10, its lowest finish in six weeks.

The unofficial closing bells put the DJIA down nearly 204points to 12,759.15 (-1.57%), the NASDAQ fell more than 40 points (-1.36%) to 2,910.32, and the S&P 500 fell -1.54% or nearly 21 points to 1,343.36.

There were several analyst upgrades and downgrades today, including Google Inc. (NASDAQ: GOOG) started as ‘buy’ at Nomura; Yandex N.V. (NASDAQ: YNDX) started as ‘neutral’ at UBS; lululemon athletica inc. (NASDAQ: LULU) cut to ‘hold’ at Argus; Amgen Inc. (NASDAQ: AMGN) cut to ‘market perform’ at Bernstein; and Annaly Capital Management Inc. (NYSE: NLY) cut to ‘market perform’ at Wells Fargo.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Black Diamond Inc. (NASDAQ: BDE) is down -2.1% at $8.74; Fuel Tech Inc. (NASDAQ: FTEK) is up 0.18% at $5.61; Halcon Resources Corp. (NASDAQ: HK) is down -4.6% at $10.27; Verifone Systems, Inc. (NYSE: PAY) is up 7.5% at $50.03; Dick’s Sporting Goods Inc. (NYSE: DKS) is up 2.7% at $46.79 after posting a new 52-week high of $47.42 earlier today; Iridium Communications Inc. (NASDAQ: IRDM) is up 10.8% at $8.20; Stage Stores Inc. (NYSE: SSI) is down -4.6% at $13.69; and Vail Resorts Inc. (NYSE: MTN) is up 4.7% at $43.43.

Other standouts from today include the following stocks:

Vermillion Inc. (NASDAQ: VRML) is up more than 111% at $2.81. The medical device maker received a code-change approval from the American Medical Association that incorporates one of the company’s devices. More coverage here.

Encore Bancshares Inc. (NASDAQ: EBTX) is up more than 35% at $20.23 after posting a new 52-week high of $20.61 earlier this morning. The bank holding company has been acquired by privately held Cadence Bancorp for about $250 million ($20.62/share).

XOMA Corp. (NASDAQ: XOMA) is up about 30% at $1.89. The biopharmaceutical firm has announced pricing on a share offer of around 29.7 million shares and warrants.

Oncothyreon Inc. (NASDAQ: ONTY) is down nearly -41% at $4.98. The biopharma company reported a significant fourth-quarter EPS miss this morning, along with available cash that will keep the company in operation for about another 12 months.

Zeltiq Aesthetics Inc. (NASDAQ: ZLTQ) is down more than -32% at $7.50 after posting a new 52-week low of $7.46 earlier. The medical technology company posted a dismal fourth-quarter earnings report this morning.

Stay tuned for Wednesday. We have noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
7:30 a.m. – Challenger Gray & Christmas job-cut report
8:15 a.m. – ADP employment report
8:30 a.m. – Non-farm business productivity and unit labor costs report
10:30 a.m. – EIA weekly petroleum status report
3:00 p.m. – Consumer credit

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AMGN, BDE, DKS, EBTX, FTEK, GOOG, HK, IRDM, LULU, MTN, NLY, ONTY, PAY, SSI, VRML, XOMA, YNDX, ZLTQ

Top Earnings Previews For The Week Ahead (FMCN, TEA, URBN, PAY, P, AEO, PLCE, HRB, HOV, AONE, ALTR, BUD, RENN, SFD, WSM)

Administrator — Fri, 02 Mar 2012 17:40:06 +0000

Earnings season is over for the most part, but we still have many companies that are widely held stocks due to release their earnings for the week ahead. We are tracking earnings due in the following shares: Focus Media Holding Ltd. (NASDAQ: FMCN); Teavana Holdings Inc. (NYSE: TEA); Urban Outfitters Inc. (NASDAQ: URBN); VeriFone Systems Inc. (NYSE: PAY); Pandora Media Inc. (NYSE: P); American Eagle Outfitters Inc. (NYSE: AEO); Children’s Place Retail Stores Inc. (NASDAQ: PLCE); H and R Block Inc. (NYSE: HRB); Hovnanian Enterprises Inc. (NYSE: HOV); A123 Systems Inc. (NASDAQ: AONE); Altera Corporation (NASDAQ: ALTR); Anheuser Busch Inbev SA (NYSE: BUD); Renren Inc. (NYSE: RENN); Smithfield Foods Inc. (NYSE: SFD); and Williams Sonoma Inc. (NYSE: WSM).

We have broken these out by day and included Thomson Reuters consensus data on each. Color has been added on some of the names as well.

MONDAY, MARCH 5

Focus Media Holding Ltd. (NASDAQ: FMCN) has already recovered handily from when alleged accounting woes were surrounding this company. This is the outdoor advertiser in China. Estimates are $0.61 EPS and $225.1 million in sales.

Teavana Holdings Inc. (NYSE: TEA) remains a premium company with great products and growth, but at a price for a small tea retail empire trading at close to 40-times next year’s expected earnings. Estimates are $0.32 EPS on $67.8 million in sales.

Urban Outfitters Inc (NASDAQ: URBN) has recovered off of its lows but the company remains an early turnaround story. The real question is what the growth opportunities are for the next decade compared to the growth of the last decade. Earnings estimates are $0.20 EPS on $742.9 million in sales.

VeriFone Systems Inc. (NYSE: PAY) has estimates of $0.52 EPS on about $417.5 million in sales.

TUESDAY, MARCH 6

Pandora Media Inc. (NYSE: P) remains in limbo and investors are still trying to get a better grasp on its business model as far as how it will make money. The company surprised before. Estimates are -$0.02 EPS on almost $83 million in sales and the market value is $2.2 billion.

WEDNESDAY, MARCH 7

American Eagle Outfitters Inc. (NYSE: AEO) has estimates of $0.35 EPS and $1.05 billion in sales.

Children’s Place Retail Stores Inc. (NASDAQ: PLCE) has estimates of $0.89 EPS on just over $478 million in sales.

H and R Block Inc. (NYSE: HRB) is expected to report $0.05 EPS and $700 million sales, but next quarter is the tax-season money quarter and the estimates are currently $2.24 EPS on $2.11 billion in sales. To emphasize how much the tax season matters, the entire fiscal year-end of April 2012 is expected to be $3.01 billion.

Hovnanian Enterprises Inc. (NYSE: HOV) is expected to report -$0.47 EPS and $287.6 million in sales. While this is a homebuilder and while it has been widely followed before, this is probably not going to be a sector-mover for homebuilders.

THURSDAY, MARCH 8

A123 Systems Inc. (NASDAQ: AONE) is challenged with shares now down under $2.00 and a weak performance late in the week. Estimates are -$0.41 EPS on almost $53.7 million in revenues. It seems sad that lithium-ion batteries are not doing well and around $1.80 it has a 52-week range of $1.51 to $8.70.

Altera Corporation (NASDAQ: ALTR) is a ‘business update’ rather than a formal earnings release but investors will be watching its guidance. Estimates are $0.37 EPS and $426.8 million in sales.

Anheuser Busch Inbev SA (NYSE: BUD) has estimates of $0.91 EPS and $9.9 billion in sales, but keep in mind that this is now translated from Euros now that this is not a U.S.-based company.

Renren Inc. (NYSE: RENN) is down massively from its 2011 IPO but it is still very actively traded as a Facebook knock-off in China. Renren is expected to report earnings of $0.02 EPS and $32.3 million in sales.

Smithfield Foods Inc. (NYSE: SFD) is expected to report earnings of $0.67 EPS and $3.5 billion in sales.

Williams Sonoma Inc. (NYSE: WSM) is expected to report earnings of $1.13 EPS and $1.25 billion in sales. Shares are down almost 15% from the 52-week high and the shares are still close to the consensus price target of $39.43.

Keep in mind on any of these companies that dates and estimates can change without notice.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Calendar, Earnings, The Week Tagged: AEO, ALTR, AONE, BUD, FMCN, HOV, HRB, P, PAY, PLCE, RENN, SFD, TEA, URBN, WSM

24/7 Wall St. Closing Bell (XOM, NKE, POT, TSLA, AMGN, RRC, AXE, ARMH, CE, LLY, HP, LLL, MHP, MAT, PFE, VLO, VRNG, RSH, PAY, REE, FFN)

Paul Ausick — Tue, 31 Jan 2012 21:06:33 +0000

All three major indexes opened higher this morning, but the strength didn’t last as the Chicago PMI number failed to meet expectations and came in lower even than last month’s reading. The lower reading on consumer confidence also supported sellers this morning. Nothing of note was concluded on the Greek debt swap, so that had little effect on the market one way or the other. Oil major Exxon Mobil Corp. (NYSE: XOM) reported earnings in-line with expectations, that wasn’t good enough for investors today (our coverage here). Crude oil is mixed today, with WTI crude down -0.32% at $98.46/barrel and Brent crude higher by 0.31% at $111.09/barrel. Gold closed today at $1,738.10/ounce, having gained 11% this month (our view here).

The unofficial closing bells put the DJIA down nearly 21 points to 12,632.91 (-0.16%), the NASDAQ rose nearly 2 points (0.07%) to 2,813.84, and the S&P 500 fell -0.05% or less than 1 point to 1,312.40.

There were several analyst upgrades and downgrades today, including Nike Inc. (NYSE: NKE) raised to ‘buy’ at Argus; Potash Corp. of Saskatchewan (NYSE: POT) cut to ‘neutral’ at Goldman Sachs; Tesla Motors Inc. (NASDAQ: TSLA) started as ‘buy’ at Jefferies; Amgen Inc. (NASDAQ: AMGN) reiterated as ‘buy’ and target price raised to $80 at Argus; and Range Resources Corp. (NYSE: RRC) raised to ‘hold’ from ‘sell’ with a target price of $59 at Canaccord Genuity.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Anixter Inc. (NYSE: AXE) is down -3.7% at $65.25; ARM Holdings PLC (NASDAQ: ARMH) is up 1.7% at $28.84; Celanese Corp. (NYSE: CE) is down -0.95% at $48.84; Eli Lilly & Co. (NYSE: LLY) is up 1.35% at $39.78; Exxon Mobil is down -1.98% at $83.80; Helmerich & Payne Inc. (NYSE: HP) is up 2.2% at $61.64; L-3 Communications Holdings Inc. (NYSE: LLL) is up 1.3% at $70.49; McGraw-Hill Cos. Inc. (NYSE: MHP) is down -0.5% at $46.09; Mattel Inc. (NYSE: MAT) is up 5.1% at $31.04 after posting a new 52-week high today of $31.49; Pfizer Inc. (NYSE: PFE) is down -0.8% at $21.42; and Valero Energy Corp. (NYSE: VLO) is down -0.73% at $24.10.

Other standouts from today include the following stocks:

Vringo Inc. (NASDAQ: VRNG) is up nearly 21% at $1.40. The social media software maker is apparently basking in the glow of the coming IPO of Facebook. See our coverage here.

RadioShack Corp. (NYSE: RSH) is down nearly -30% at $7.19 after setting a new 52-week low of $7.15 earlier today. The social media software maker is apparently basking in the glow of the coming IPO of Facebook. See our coverage here.

Verifone Systems Inc. (NYSE: PAY) is up more than 8% at $42.61. The payment systems maker is getting a boost from a plan by Mastercard Inc. (NYSE: MA) to subsidize the installation of new card readers that use a microchip rather than a magnetic stripe to store customer information.

Rare Element Resources Ltd. (AMEX: REE) is up more than 17% at $7.22. The rare earth minerals miner is likely gaining after a ruling from the WTO that China’s restriction on rare earth minerals’ exports violates global trade rules.

FriendFinder Networks Inc. (NASDAQ: FFN) is up about 19% at $1.26. The adult social media company is likely also being bought up on the prospective Facebook IPO.

Stay tuned for Wednesday. Automakers will be releasing sales figures for January throughout the day. We have noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
7:30 a.m. – Challenger Job-cut data
8:15 a.m. – ADP employment report
10:00 a.m. – ISM manufacturing index
10:00 a.m. – Construction spending
10:30 a.m. – EIA weekly petroleum status report

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AMGN, ARMH, AXE, CE, FFN, HP, LLL, LLY, MAT, MHP, NKE, PAY, PFE, POT, REE, RRC, RSH, TSLA, VLO, VRNG, XOM

Mid-Afternoon Movers (VRNG, RSH, CDTI, FFN, PAY)

Paul Ausick — Tue, 31 Jan 2012 19:34:52 +0000

At mid-afternoon, we’ve seen some changes among today’s big movers. On the plus side are Vringo Inc. (NASDAQ: VRNG), Clean Diesel Technologies Inc. (NASDAQ: CDTI), FriendFinders Network Inc. (NASDAQ: FFN), and Verifone Systems Inc. (NYSE: PAY). On the down side is RadioShack Corp. (NYSE: RSH).

Vringo remains the day’s biggest gainer, up more than 31% at $1.51. The social media software maker is apparently basking in the glow of the coming Facebook IPO. We have more coverage here.

RadioShack remains the day’s biggest loser, down nearly -30% at $7.17 after posting a new 52-week low of $7.15 earlier this morning. The electronics retailer pre-announced quarterly earnings this morning and the outlook for gross margins is killing the stock. Volume is about 18x the daily average. See more coverage here.

Clean Diesel Technologies is up nearly 22% at $3.55 in a 52-week range of $1.50-$11.20.

FriendFinder Networks is up more than 28%. The adult social media company is likely also being bought up on the prospective Facebook IPO.

Verifone is up more than 9% at $43.10. The payment systems maker is getting a boost from a plan by Mastercard Inc. (NYSE: MA) to subsidize the installation of new card readers that use a microchip rather than a magnetic stripe to store customer information.

The DJIA is off -0.20% at around 12, 628, the S&P 500 is down -0.04% at about 1,312, and the Nasdaq Composite is up 0.13% at about 2,816.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: CDTI, FFN, PAY, RSH, VRNG

Argus Making Many Model Portfolio Changes (AEP, WMB, MON, CSX, OXY, WY, PAY, MDU, ICE, HAIN)

Administrator — Thu, 12 Jan 2012 14:03:52 +0000

Argus has made quite a few changes to its model portfolio for 2012 after the first week of trading this year. The company has broken these out in equity income, growth and income, and mid-cap growth sector. We also have implied price entry and exit points as well.

In the firm’s equity income allocations, the firm is selling 100% of its allocation in American Electric Power Co. (NYSE: AEP) at $41.14 and is adding in Williams Companies Inc. (NYSE: WMB) at $28.22.

As far as growth and income, Argus is recommending to buy CSX Corp. (NYSE: CSX) at $23.32 and Monsanto Co. (NYSE: MON) at $79.00; and it is recommending that the model portfolio sell all of its positions in Occidental Petroleum Corp. (NYSE: OXY) at $97.17 and Weyerhaeuser Co. (NYSE: WY) at $19.18.

Finally, in mid-cap growth the firm’s model portfolio is buying VeriFone Systems Inc. (NYSE: PAY) at $37.12 and buying MDU Resources Group Inc. (NYSE: MDU) at $21.50. It is selling 100% of its position in IntercontinentalExchange Inc. (NYSE: ICE) at $113.13. Another selling stock, but only by 20% of its allocation is Hain Celestial Group Inc. (NASDAQ: HAIN).

Speaking of model portfolios, here were the 5 most undervalued DJIA stocks and the 5 least attractive DJIA stocks based upon consensus targets. Here are the top 4 DJIA stock picks from Jim Cramer for 2012.

Also, we made a lot of changes this year to the 24/7 Wall St. 2012 Model Dividend Portfolio.

JON C. OGG

Filed under: Analyst Calls, Research Tagged: AEP, CSX, HAIN, ICE, MDU, MON, OXY, PAY, WMB, WY

24/7 Wall St. Closing Bell (GMCR, LULU, NLY, M, HSY, CYAN, GSL, IVN, JCP, LOW, ZBB, DQ, BXG, PAY, SHZ, CADX, JKS)

Paul Ausick — Mon, 14 Nov 2011 21:05:08 +0000

Shares only briefly broke above last week’s close today, as decliners outnumber gainers by about 4 to 1 in the late afternoon. Tech stocks held up fairly well early as news of Warren Buffet’s buy of IBM stock probably boosted sentiment for tech shares. By early afternoon, though, even the tech-heavy NASDAQ by more than 20 points. Crude oil fell below $95/barrel before coming back to just over $98/barrel, about $1/barrel below the opening price. Gold is also down slightly and the euro is down against the dollar. Financials have lost the most today, about 2.45% an hour before closing.

The unofficial closing bells put the DJIA down more than 74 points to 12,079.29 (-0.61%), the NASDAQ fell more than 21 points (-0.80%) to 2,657.22, and the S&P 500 fell -0.94% or nearly 12 points to 1,251.88.

There were several analyst upgrades and downgrades today, including Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) cut to ‘hold’ at Argus. Other changes included Lululemon Athletica Inc. (NASDAQ: LULU) reiterated ‘neutral’ with a $59 price target at Credit Suisse; Annaly Capital Management, Inc. (NYSE: NLY) started as ‘overweight’ at JPMorgan; Macy’s Inc. (NYSE: M) named ‘Bull of the Day’ at Zack’s; and Hershey Co. (NYSE: HSY) cut to ‘hold’ at Argus.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Cyanotech Corp. (NASDAQ: CYAN) is up more than 9% at $5.50; Global Ship Lease Inc. (NYSE: GSL) is down almost -17% at $1.75; Ivanhoe Mines Ltd. (NYSE: IVN) is up more than 2% at $21.03; J.C. Penney Co. (NYSE: JCP) is down almost -3% at $32.93; Lowe’s Companies Inc. (NYSE: LOW) is up more than 1.5%, at $23.49; and ZBB Energy Corp. (AMEX: ZBB) is down about -7.5%, at $0.71.

Several other standouts from today are as follows…

Daquo New Energy Corp. (NYSE: DQ) is down about -3%, at $2.73. The company makes wafers for solar PV cells and badly missed expected earnings. Net margins have fallen from 36.3% in the same period a year ago to 20.3%.

Bluegreen Corp. (NYSE: BXG) is up more than 44%, at $2.94. The resort time-share company has agreed to be acquired by BFC Financial Corp. (OTC: BFCF) for shares of BFC valued at $4.56.

Verifone Systems Inc. (NYSE: PAY) is up nearly 8%, at $44.03. Verifone has agreed to acquire a Norwegian company that is the largest provider of payment and gateway services in northern Europe. The price totals about $815 million, including debt.

China Shen Zhou Mining & Resources, Inc. (NYSE: SHZ) is up more than 18%, at $2.57. The company, which is China’s leading producer of fluorite, reported that it had nearly doubled revenues in the third quarter compared to the same period a year ago.

Cadence Pharmaceuticals, Inc. (NASDAQ: CADX) is down nearly -22%, at $3.97, after posting a new 52-week low of $3.95 earlier today. The company announced a $75 million secondary stock offering this morning.

JinkoSolar Holding Co. Ltd. (NYSE: JKS) is down more than -13%, at $6.75. The solar panel maker significantly reduced shipment and revenue forecasts for the third quarter.

Stay tuned for Tuesday. St. Louis Federal Reserve Bank president James Bullard and Chicago Fed president Charles Evans are giving speeches in the morning. Three other Fed presidents are also speaking tomorrow. Here’s a list of other noteworthy events (all times Eastern):

7:45 a.m. – ICSC-Goldman Sachs store sales report
8:30 a.m. – Producer price index released
8:30 a.m. – October retail sales
8:30 a.m. – Empire State manufacturing survey
10:00 a.m. – Business inventories

Paul Ausick

Filed under: Analyst Calls, HI/LOW, Market Close Tagged: BXG, CADX, CYAN, DQ, GMCR, GSL, HSY, IVN, JCP, JKS, LOW, LULU, M, NLY, PAY, SHZ, ZBB

24/7 Wall St. Closing Bell (K, ALU, TOL, PAY, YRCW, GRPN, TESO, BSFT, CCJ,CDE,KWK, NAT, FRPT, ADPI, TKLC, OVTI, DMND)

Paul Ausick — Mon, 07 Nov 2011 21:09:51 +0000

Markets opened up a bit this morning, but by 10:00 a.m. equities had turned back down, with the DJIA sliding down nearly -200 points before rallying back to its opening mark in the early afternoon. Shares simply couldn’t get any traction in any sector, with heath care stocks losing the least. Crude oil rose to just above $95/barrel, and the firing of two California state oil & gas officials by the governor has raised hopes for speedier permitting in that state, where an estimated trove of 15 billion barrels of shale oil is at stake. In the last half hour of trading, equities rebounded on their way to a gain for the day.

The unofficial closing bells put the DJIA up more than 85 points to 12,068.39 (0.71%), the NASDAQ rose more than 9 points (0.34%) to 2,695.25, and the S&P 500 rose 0.63% or nearly 8 points to 1,261.12.

There were several analyst upgrades and downgrades today, including Kellogg Co. (NYSE: K) cut to ‘market perform’ at William Blair. Other changes included Alcatel-Lucent SA cut to ‘sell’ at Citigroup; Toll Brothers, Inc. (NYSE: TOL) raised to ‘buy’ at Citigroup; VeriFone Systems Inc. (NYSE: PAY) started at ‘buy’ at Citigroupl; YRC Worldwide, Inc. (NASDAQ: YRCW) maintained at ‘underperform’ with a price target of $0.05 at Credit Suisse; and Groupon Inc. (NASDAQ: GRPN) started at ‘buy’ at Benchmark.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Tesco Corp. (NASDAQ: TESO) is down about -18%, at $13.34; BroadSoft, Inc. (NASDAQ: BSFT) is down less than -0.5%%, at $36.28; Cameco Corp. (NYSE: CCJ) is down nearly -7%, at $20.00; Coeur d’Alene Mines Corp. (NYSE: CDE) is up nearly 8%, at $29.42; Quicksilver Resources Inc. (NYSE: KWK) is down more than -9%, at $7.62; and Nordic American Tankers Ltd. (NYSE: NAT) is down nearly -4%, at $13.64.

Several other standouts from today are as follows…

Force Protection, Inc. (NASDAQ: FRPT) is up more than 30%, at $5.50. The armored truck maker is being acquired by General Dynamics Corp. (NYSE: GD for $5.52/share in a deal worth $360 million.

American Dental Partners, Inc. (NASDAQ: ADPI) is up nearly 79%, to $18.57. The company is being acquired by a private equity firm for $317 million, or $19/share, an 83% premium to Friday’s closing price.

Tekelec (NASDAQ: TKLC) is up more than 13%, at $11.20. The telecom equipment maker is being acquired by a private equity firm for about $760 million.

OmniVision Technologies, Inc. (NASDAQ: OVTI) is down nearly -18%, at $14.23. The company revised its outlook to include a sharp drop in fourth-quarter revenues. Shares are down about -50% since the beginning of the calendar year.

Diamond Foods, Inc. (NASDAQ: DMND) is down about -15.5%, at $39.21, after posting a new 52-week low of $38.45 earlier in the day. The company’s stock continues to get beaten up due to a delay in its acquisition of the Pringles business from Proctor & Gamble (NYSE: PG) and an investigation into payments to walnut growers.

Stay tuned for Tuesday. Philadelphia Federal Reserve president Charles Plosser is giving a speech in the morning and Minneapolis Federal Reserve president Narayana Kocherlakota gives a speech in the afternoon. We have noted the following events (all times Eastern):

7:45 a.m. – International Council of Shopping Centers-Goldman Sachs same-store sales
8:55 a.m. – Redbook weekly report on retail sales
1:00 p.m. – US Treasury 3-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ADPI, ALU, BSFT, CCJ, CDE, DMND, FRPT, GRPN, K, KWK, NAT, OVTI, PAY, TESO, TKLC, TOL, YRCW