24/7 Wall St. » PGR

24/7 Wall St. Closing Bell — May 18, 2012

Paul Ausick — Fri, 18 May 2012 20:05:30 +0000

The three major US stock indexes opened somewhat higher this morning as investors paid little attention to last night’s downgrade of Spain’s banks (more coverage here). With little economic data on tap today, US markets waited for the IPO of Facebook Inc. (NASDAQ: FB) — and waited and waited. The first trade went off about half an hour late at $42.05, well above the announced price of $38, but the stock wasn’t able to hold on to the gain, ending the day at $38.08. The US dollar index fell today, now down -0.11% at 81.291. The GSCI commodity index is down 0.04% at 633.67, with commodities mostly mixed today. Wheat is the big gainer again today, up 5.7% in Chicago and 4.9% in Kansas City. WTI crude oil closed down -1.2% at $91.48/barrel, and Brent crude trades down at -0.38% at $107.08/barrel. Natural gas continues its climb, up 5.7% today at $2.74/thousand cubic feet. Gold settled up 1.1% today, at $1,591.90/ounce, ending a four-day losing streak.

The unofficial closing bells put the DJIA down 74 points to 12,368.47 (-0.59%), the NASDAQ fell nearly 35 points (-1.24%) to 2,778.79, and the S&P 500 fell -0.74% or nearly 10 points to 1,295.17.

There were several analyst upgrades and downgrades today, including LinkedIn Corp. (NYSE: LNKD) reiterated as ‘buy’ with a target price of $135 at Canaccord Genuity; Dendreon Inc. (NASDAQ: DNDN) started as ‘sell’ at Maxim; Bank of Ireland (NYSE: IRE) cut to ‘sell’ at Deutsche Bank; Phillips 66 (NYSE: PSX) started as ‘buy’ at UBS; and Sprint Nextel Corp. (NYSE: S) raised to ‘buy’ at Guggenheim.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: ANN Inc. (NYSE: ANN) is up 3.25% at $26.69; Brown Shoe Co. Inc. (NYSE: BWS) is up 21.4% at $10.63 (more coverage here); Progressive Corp. (NYSE: PGR) is down -0.1% at $21.32; and Footlocker Inc. (NYSE: FL) is up 8.9% at $30.50.

Next week we are scheduled to get earnings reports fromTech 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); and Hewlett-Packard Co. (NYSE: HPQ) among others.

Other standouts from today include the following stocks:

Renren Inc. (NYSE: RENN) is down -20% at $4.99. The Chinese Internet company is getting whacked on Facebook’s IPO. More coverage here.

GSV Capital Corp. (NASDAQ: GSVC) is down -18.6% at $13.10. The investment company had a nice hunk of Facebook shares at a very low price — all the value is in today. More coverage here.

Zynga Inc. (NASDAQ: ZNGA) is down -16.3% at $6.92 after posting a 52-week low of $6.90 earlier today. Another stock that climbed on Facebook’s back during the run-up to the IPO, shares were stopped by an automatic trigger shortly after FB shares opened today. More coverage here.

Stay tuned for Monday. Atlanta President Dennis Lockhart is giving a speech. We have also noted the following events on the schedule (all times Eastern):

10:00 a.m. – Existing home sales
10:00 a.m. – Richmond Fed manufacturing index
11:30 a.m. – 3- and 6-month bill auctions

Have a great weekend!

Paul Ausick

Filed under: General Tagged: ANN, AZO, BBY, BIG, BWS, DELL, DNDN, FB, FL, GSVC, HPQ, IRE, JASO, LNKD, PETM, PGR, PSX, RENN, RL, S, TECD, URBN, ZNGA

24/7 Wall St. Closing Bell — May 17, 2012

Paul Ausick — Thu, 17 May 2012 20:04:49 +0000

The three major US stock indexes opened essentially flat this morning as investors were faced with a flat report on new claims for jobless benefits (our coverage here). Manufacturing data from the Philadelphia Fed came in much lower than expected and the leading economic indicators also weighed the market down (more coverage here). The US dollar index rose slightly today, now up 0.03% at 81.398. The GSCI commodity index is down fractionally at 633.40, with commodities mostly higher again today. Wheat is the big gainer again today, while orange juice futures were down more than -6%. WTI crude oil closed down -0.3% at $92.56/barrel, and Brent crude trades down at -2% at $107.55/barrel. Gold settled up 2.5% today, at $1,574.90/ounce, ending a four-day losing streak.

The unofficial closing bells put the DJIA down 156 points to 12,442.49 (-1.24%), the NASDAQ fell more than 60 points (-2.10%) to 2,813.69, and the S&P 500 fell -1.50% or nearly 20 points to 1,304,87.

There were several analyst upgrades and downgrades today, including Dell Inc. (NASDAQ: DELL) raised to ‘neutral’ at Sterne Agee; IntercontinentalExchange Inc. (NYSE: ICE) raised to ‘strong buy’ at Raymond James; SINA Corp. (NASDAQ: SINA) raised to ‘overweight’ at Barclays; Visa Inc. (NYSE: V) reiterated as ‘buy’ but removed from Conviction Buy List at Goldman Sachs; Deere & Co. (NYSE: DE) reiterated as ‘buy’ with target price of $96 at Argus.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Bon-Ton Stores Inc. (NASDAQ: BONT) is down -7.3% at $4.09; Dollar Tree Inc. (NASDAQ: DLTR) is down -5.6% at $95.60; E-Commerce China Dangdang Inc. (NYSE: DANG) is down -16.6% at $6.25 (more coverage here); GameStop Corp. (NYSE: GME) is down -10.1% at $18.72 (more coverage here); Sears Holdings Corp. (NASDAQ: SHLD) is up 3.9% at $52.84; and Wal-Mart Stores Inc. (NYSE: WMT) is up 4.7% at $61.97 (more coverage here).

On Friday we are scheduled to get earnings from ANN Inc. (NYSE: ANN), Brown Shoe Co. Inc. (NYSE: BWS), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), Progressive Corp. (NYSE: PGR), and Footlocker Inc. (NYSE: FL).

Other standouts from today include the following stocks:

Rosetta Genomics Ltd. (NASDAQ: ROSG) is down -17.7% at $4.11. The medical diagnostics firm priced a secondary offering this morning. More coverage here.

Dendreon Inc. (NASDAQ: DNDN) is down -11.3% at $7.65. The company’s prostate cancer drug got another challenge from a competing product from Johnson & Johnson (NYSE: JNJ). More coverage here.

MEMC Electronic Materials Inc. (NYSE: WFR) is down -21.4% at $1.68 after posting a new 52-week low of $1.63. The solar component maker lost its CFO today. More coverage here.

Stay tuned for Friday. We don’t have anything on the schedule for tomorrow, but that doesn’t mean that we’ll have a quiet day.

Paul Ausick

Filed under: General Tagged: ANN, BONT, BWS, DANG, DE, DELL, DLTR, DNDN, FL, GME, ICE, JASO, PGR, ROSG, SHLD, SINA, V, WFR, WMT

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 (CHK, LVLT, QCOM, CRM, DSX, COCO, APA, WNR, YRCW, SHOO, SRE, SLE, RGLD, OWW, GM, MGM, AES, LNG, DUK, EL, PGR, WPO, GMCR, KNSY, HLF)

Paul Ausick — Thu, 03 May 2012 20:08:03 +0000

The major US stock indexes opened mostly flat this morning following a softer-than-expected report from the Institute for Supply Management on non-manufacturing growth (our coverage here). The report on new unemployment benefits claims came in better than expected, but not enough to overcome the ISM numbers (more coverage here). Retail sales reports were also weak, with growth of just 0.8% compared with an estimate of 1.5% (more coverage here). The energy sector has been particularly hard hit today on reports that supply is keeping up with demand, some weak earnings reports, and a comment from OPEC that it would like to see Brent crude at $100/barrel, not $120 or more (our coverage here).

The US dollar index rose today, now up 0.11% at 79.221. The GSCI commodity index is down about -1.3% at 678.65, with commodities mixed on the small gains in the dollar. WTI crude oil closed down -2.6% at $102.54/barrel, and Brent crude trades down -1.84% at $116.02/barrel. Gold settled down -1.2% today, at $1,634.80/ounce.

The unofficial closing bells put the DJIA down nearly 62 points to 13,206.59 (-0.47%), the NASDAQ fell more than 35 points (-01.16%) to 3,024.30, and the S&P 500 fell -0.77% or nearly 11 points to 1,391.57.

There were several analyst upgrades and downgrades today, including Chesapeake Energy Corp. (NYSE: CHK) maintained as ‘buy’ but target price cut to $31 at BofA/ML and raised to ‘outperform’ at Bernstein; Level 3 Communications Inc. (NYSE: LVLT) reiterated ‘buy’ at SunTrust Robinson Humphrey and cut to ‘neutral’ at Piper Jaffary; Qualcomm Inc. (NASDAQ: QCOM) reiterated as ‘buy’ at BofA/ML; and Salesforce.com (NYSE: CRM) raised to ‘outperform’ with a $185 target price at Credit Suisse.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Diana Shipping Inc. (NYSE: DSX) is down -4.4% at $7.63; Corinthian Colleges Inc. (NASDAQ: COCO) is down -21.6% at $3.05; Apache Corp. (NYSE: APA) is down -3.7% at $91.99; Western Refining Inc. (NYSE: WNR) is down -2.6% at $18.42; YRC Worldwide Inc. (NASDAQ: YRCW) is down -8% at $6.79; Steve Madden Ltd. (NASDAQ: SHOO) is down -1.7% at $43.54; Sempra Energy (NYSE: SRE) is up 0.6% at $64.29 after posting a new 52-week high of $65.37 earlier today; Sara Lee Corp. (NYSE: SLE) is down -1% at $22.10; Royal Gold Inc. (NASDAQ: RGLD) is down -2.6% at $59.43 (more coverage here); Orbitz Worldwide Inc. (NYSE: OWW) is up 4.9% at $4.09; General Motors Co. (NYSE: GM) is down -2.3% at $22.42 (more coverage here); and MGM Resorts International (NYSE: MGM) is down -4.4% at $12.95.

Tomorrow we get earnings from AES Corp. (NYSE: AES), Cheniere Energy Inc. (AMEX: LNG), Duke Energy Corp. (NYSE: DUK), Estee Lauder Companies Inc. (NYSE: EL), Progressive Corp. (NYSE: PGR), and The Washington Post Co. (NYSE: WPO).

Other standouts from today include the following stocks:

Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) is down -47.3% at $26.11. The company reported earnings last night, and lowered guidance. More coverage here and here.

Kensey Nash Corp. (NASDAQ: KNSY) is up 32.2% at $38.35. The company is being acquired by a Dutch firm for $360 million. More coverage here.

Herbalife Ltd. (NYSE: HLF) is down -12.7% at $46.02. The nutrition products company flubbed some questions at last night’s conference call. More coverage here.

Stay tuned for Friday. San Francisco Fed President John Williams is giving a speech. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Non-farm payrolls
3:00 p.m. – Treasury STRIPS

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AES, APA, CHK, COCO, CRM, DSX, DUK, EL, GM, GMCR, HLF, KNSY, LNG, LVLT, MGM, OWW, PGR, QCOM, RGLD, SHOO, SLE, SRE, WNR, WPO, YRCW

24/7 Wall St. Closing Bell (GE, FFIV, GRPN, PGR, REGN, CHKP, COP, DHI, ETN, HAS, PCH, XRX, AMLN, LSI)

Paul Ausick — Mon, 23 Apr 2012 20:04:36 +0000

Markets opened lower this morning following some reversals in Europe, not the least of which is the coming French presidential election. PMI readings from Europe and China were also weak. Asian and European markets were lower across the board today as well. The US dollar index rose today, now up 0.27% at 79.409. The GSCI commodity index is up 0.05% at 676.38, with commodities mixed, though orange juice is down more than -5%. WTI crude oil closed down -1.3% at $102.49/barrel, and Brent crude trades down -0.12% at $118.62/barrel. Gold settled down -0.06% today, at $1,632.60/ounce.

The unofficial closing bells put the DJIA fell more than 102 points to 12,926.86 (-0.79%), the NASDAQ fell 30 points (-1%) to 2,970.45, and the S&P 500 fell -0.84% or more than 11 points to 1,366.94.

There were several analyst upgrades and downgrades today, including General Electric Co. (NYSE: GE) reiterated ‘outperform’ with a $22 target price at Credit Suisse; F5 Networks Inc. (NASDAQ: FFIV) started as ‘overweight’ at Morgan Stanley; Groupon Inc. (NASDAQ: GRPN) raised to ‘overweight’ at Evercore; Progressive Corp. (NYSE: PGR) cut to ‘neutral’ at Citigroup; and Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) reiterated as ‘buy’ and target price raised to $146 at BofA/ML.

Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: Check Point Software Technologies Ltd. (NASDAQ: CHKP) is down -5.1% at $60.77; ConocoPhillips (NYSE: COP) is down -0.6% at $72.44; D.R. Horton Inc. (NYSE: DHI) is down -2.1% at $15.06 (our coverage here); Eaton Corp. (NYSE: ETN) is down -0.15% at $47.37; Hasbro Inc. (NYSE: HAS) is down -5% at $34.11; Potlach Corp. (NYSE: PCH) is down -1.7% at $30.53; and Xerox Corp. (NYSE: XRX) is up 0.32% at $7.90.

Other standouts from today include the following stocks:

Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) is up 14.2% at $26.17 after posting a new 52-week high this morning of $26.25. The company has hired advisers for a possible sale of the company. More coverage here and here.

LSI Corp. (NYSE: LSI) is up 1% at $8.01. The semiconductor maker got a boost from a story in Barron’s magazine over the weekend. More coverage here.

Stay tuned for Tuesday. The Federal Reserve Open Market Committee begins its two-day meeting. We have noted the following events on the schedule (all times Eastern):

9:00 a.m. – S&P Case-Shiller housing price index
10:00 a.m. – New home sales
10:00 a.m. – Conference board consumer confidence
10:00 a.m. – FHFA house price index
10:00 a.m. – Richmond Fed manufacturing index
11:30 a.m. – 4-week bill auction
1:00 p.m. – 2-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMLN, CHKP, COP, DHI, ETN, FFIV, GE, GRPN, HAS, LSI, PCH, PGR, REGN, XRX

Top Analyst Upgrades & Downgrades (ARMH, STD, BBVA, PRSS, CBS, DRQ, FFIV, GE, GRPN, MSFT, NSM, PCLN, PGR, REGN)

Administrator — Mon, 23 Apr 2012 11:52:54 +0000

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

ARM Holdings PLC (NASDAQ: ARMH) Raised to Neutral at JPMorgan.

Banco Santander (NYSE: STD) Added to Conviction Buy List at Goldman Sachs; Raised to Overweight at JPMorgan.

Banco Bilbao Vizcaya Argentaria, S.A. (NYSE: BBVA) maintained Buy but removed from Conviction Buy List at Goldman Sachs.

CafePress Inc. (NASDAQ: PRSS) Started as Buy at Janney

CBS Corporation (NYSE: CBS) named Bull of the Day at Zacks.

Dril-Quip, Inc. (NYSE: DRQ) named Bear of the Day at Zacks.

F5 Networks, Inc. (NASDAQ: FFIV) Started as Overweight at Morgan Stanley.

General Electric Co. (NYSE: GE) Reiterated Outperform with $22 target at Credit Suisse.

Groupon, Inc. (NASDAQ: GRPN) Raised to Overweight at Evercore.

Microsoft Corporation (NASDAQ: MSFT) Reiterated Buy with $39 target at Argus.

Nationstar Mortgage Holdings Inc. (NYSE: NSM) Started as Outperform with $20 target at Credit Suisse; Started as Outperform at Wells Fargo; Started as Buy with $18 target at BofA/ML.

priceline.com Incorporated (NASDAQ: PCLN) Reiterated Outperform and raised target to $811 at Credit Suisse.

Progressive Corp. (NYSE: PGR) Cut to Neutral at Citigroup.

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) Reiterated Buy and raised target to $146 at BofA/ML.

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: ARMH, BBVA, CBS, DRQ, FFIV, GE, GRPN, MSFT, NSM, PCLN, PGR, PRSS, REGN, STD

24/7 Wall St. Closing Bell (JCP, AMSC, EGO, NVDA, M, HCSG, PGR, ADTN, MSW, FAST, RAD, MFRM, TITN, DVR, NOK)

Paul Ausick — Wed, 11 Apr 2012 20:03:36 +0000

Markets opened higher this morning following the pleasant surprise earnings report from Alcoa Inc. (NYSE: AA) after markets closed yesterday (our coverage here). The report on US crude oil inventories showed a relatively modest gain this week, boosting crude prices (our coverage here). Based on better expectations for quarterly earnings and mildly better news on the global economy, investors took on more risk today, driving up Treasury yields in the bargain. The US dollar index fell slightly today, now down -0.09% at 79.788. The GSCI commodity index is down about -1.5% at 674.42, with orange juice again leading the decliners. WTI crude oil closed up 1.7% at $102.70/barrel, and Brent crude trades up 0.12% at $120.02/barrel. Gold settled down just -$0.40 today, at $1,660.30/ounce.

The unofficial closing bells put the DJIA up more than 90 points to 12,806.15 (0.71%), the NASDAQ rose more than 25 points (0.84%) to 3,016.46, and the S&P 500 rose 0.75% or more than 10 points to 1,368.79.

There were several analyst upgrades and downgrades today, including J.C. Penney & Co. (NYSE: JCP) started as ‘neutral’ at UBS; American Superconductor Corp. (NASDAQ: AMSC) started as ‘buy’ at Maxim Group; Eldorado Gold Corp. (NYSE: EGO) raised to ‘buy’ at Canaccord Genuity; Nvidia Corp. (NASDAQ: NVDA) started as ‘outperform’ at RBC; and Macy’s Inc. (NYSE: M) started as ‘neutral’ at UBS.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Alcoa is up 6.2% at $9.90; Health Care Services Group Inc. (NASDAQ: HCSG) is up 7.2% at $21.47; Progressive Corp. (NYSE: PGR) is down -0.6% at $22.61; and Adtran Inc. (NASDAQ: ADTN) is up 7.5% at $30.61. After the markets close today we will hear from Mission West Properties Inc. (NASDAQ: MSW) among others. Before the markets open tomorrow morning we get earnings from Fastenal Corp. (NASDAQ: FAST) and Rite Aid Corp. (NYSE: RAD).

Other standouts from today include the following stocks:

Mattress Firm Holding Co. (NASDAQ: MFRM) is up more than 17% at $43.89 after posting a new 52-week high of $45.42 earlier today. The retailing company posted good earnings and announced an acquisition. More coverage here.

Titan Machinery Inc. (NASDAQ: TITN) is up more than 17% at $32.20 after posting a new 52-week high of $33.35. The farm machinery company shattered earnings expectations.

Cal Div International Inc. (NYSE: DVR) is up more than 13% at 3.71. The offshore oil field services firm has announced that it will be a 40% partner in the Cape Wind project offshore of Massachusetts.

Nokia Corp. (NYSE: NOK) is down more than -16% at $4.21, a new 52-week low. The cell phone maker warned on earnings this morning and is fixing a glitch in its new Lumia 900 phone. Even more coverage here.

Stay tuned for Wednesday. New York Fed President William Dudley, Philadelphia Fed President Charles Plosser, Minneapolis Fed President Naryana Kocherlakota, and Federal Reserve governor Sarah Bloom Raskin are all giving speeches. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – International trade statistics
8:30 a.m. – New claims for unemployment benefits
8:30 a.m. – Producer price index
10.30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – 30-year bond auction
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ADTN, AMSC, DVR, EGO, FAST, HCSG, JCP, M, MFRM, MSW, NOK, NVDA, PGR, RAD, TITN

Top Analyst Upgrades & Downgrades (ARNA, AONE, CIM, DTV, FSL, HTS, IACI, KMI, NVDA, PGR, CRM, VZ, WTW)

Administrator — Wed, 28 Mar 2012 12:21:13 +0000

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

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) Cut to Neutral at Piper Jaffray.

A123 Systems, Inc. (NASDAQ: AONE) Cut to Hold at Deutsche Bank.

Chimera Investment Corporation (NYSE: CIM) Cut to Hold at Deutsche Bank.

DirecTV, Inc. (NASDAQ: DTV) Raised to Buy at Citigroup; Reiterated as Buy at Canaccord Genuity.

Freescale Semiconductor Holdings (NYSE: FSL) Started as Neutral at Goldman Sachs.

Hatteras Financial Corporation (NYSE: HTS) Raised to Buy at Deutsche Bank.

IAC/InterActiveCorp (NASDAQ: IACI) Cut to Neutral at Citigroup.

Kinder Morgan Inc. (NYSE: KMI) Started as Equal-weight at Morgan Stanley.

NVIDIA Corporation (NYSE: NVDA) Raised to Market Perform at JMP Securities.

Progressive Corporation (NYSE: PGR) Raised to Outperform at Credit Suisse.

Salesforce.com (NYSE: CRM) Reiterated as Buy and raised target to $180 at Canaccord Genuity.

Verizon Communications Inc. (NYSE: VZ) Cut to Sector Perform at RBC.

Weight Watchers International Inc. (NYSE: WTW) Started as Outperform at Credit Suisse.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AONE, ARNA, CIM, CRM, DTV, FSL, HTS, IACI, KMI, NVDA, PGR, VZ, WTW

P&C Insurers Face Above-Normal Tornado Expectations In 2012 (ALL, PGR, BRK.B)

Administrator — Tue, 21 Feb 2012 16:15:38 +0000

Before you hit the panic button too hard, ask yourself just how accurate you think the weatherman is. All cynical thinking aside, AccuWeather.com is calling for an above-normal year of tornado activity in 2012. This is on the heels of what was nearly a record year in 2011. In 2011, there were 1,709 tornadoes and the record is said to be 1,817 back in 2004.

There is an obvious observation… Living in a trailer might bring on some added risks in 2012. So far the report is not causing any panic in the property and casualty insurers:

Allstate Corporation (NYSE: ALL) is flat at $31.39 against a 52-week trading range of $22.27 to $34.40. Berkshire Hathaway Inc. (NYSE: BRK.B) is even up modestly and it has exposure on insurance and on reinsurance. Progressive Corporation (NYSE: PGR) is also up 0.4% at $21.52.

Maybe the obvious answer is that ‘above average’ means that insurers will get to charge more than normal as well.

Filed under: 24/7 Wall St. Wire Tagged: ALL, BRK-B, PGR

Top Analyst Upgrades & Downgrades (ALL, T, BBY, CELG, CLF, EQY, HIG, JCP, JNPR, KIM, PGR, SD, SYNA, UA, VPRT, ZOLL)

Administrator — Fri, 27 Jan 2012 13:27:24 +0000

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

The Allstate Corporation (NYSE: ALL) Started as Outperform at William Blair.
AT&T Inc. (NYSE: T) Reinstated as Neutral with $30 price target at Credit Suisse.
Best Buy Co., Inc. (NYSE: BBY) Started as Outperform with $32 target at Credit Suisse.
Celgene Corporation (NASDAQ: CELG) Cut to Hold on Valuation at Argus.
Cliffs Natural Resources (NYSE: CLF) Cut to Neutral at Credit Suisse.
Equity One Inc. (NYSE: EQY) Cut to Sell at Citigroup.
Hartford Financial Services Group (NYSE: HIG) Cut to Neutral at JPMorgan.
J.C. Penney Company, Inc. (NYSE: JCP) Raised to Overweight at Piper Jaffray; Maintained as Buy but raised price target to $49 at Argus.
Juniper Networks Inc. (NYSE: JNPR) Cut to Market Perform at Morgan Keegan.
Kimco Realty Corporation (NYSE: KIM) Cut to Neutral at Citigroup.
The Progressive Corporation (NYSE: PGR) Started as Underperform at William Blair.
Sandridge Energy Inc. (NYSE: SD) Started as Buy at Citigroup.
Synaptics Inc. (NASDAQ: SYNA) Raised to Buy at Needham; Cut to Neutral at Stern Agee.
Under Armour, Inc. (NYSE: UA) Reiterated as Buy with $102 price target at Canaccord Genuity.
Vistaprint NV (NASDAQ: VPRT) Cut to Underperform as Bear of the Day at Zacks.
ZOLL Medical Corporation (NASDAQ: ZOLL) maintained Outperform as Bull of the Day at Zacks.

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Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: ALL, BBY, CELG, CLF, EQY, HIG, JCP, JNPR, KIM, PGR, SD, SYNA, T, UA, VPRT, ZOLL