Reuters: E-mails and the credit crisis will be key to the trial of Bear Stearns workers.
Reuters: The approval process for Tengzhong to buy Hummer has started in China.
Reuters: Philips Electronics (NYSE:PHG) beat expectations.
Reuters: Liz Claiborne’s (NYSE:LIZ) decision to sell its brands at J C Penny (NYSE:JCP) should help both companies. Read More
Markets in Asia were slightly down with Japan closed for a holiday.
The Hang Seng was off .5% to 21,404. Sinopec (NYSE:SNP) was up slightly.
The Shanghai Composite fell .6% to 2,894.
At the open in Europe, the FTSE rose .4% to 5,180. The Dax was up .6% to 5,744. The CAC 40 moved higher by .3% to 3,812. Philips was up (NYSE:PHG) on strong earnings.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
These are the top pre-market analyst downgrades we have seen early this Friday morning with more than two and a half hours until the open:
Eagle Bulk Shipping, Inc. (EGLE) Cut to Sell at Cantor Fitzgerald.
InterContinental Hotels (IHG) Cut to Hold at Jefferies.
Noble Energy (NE) Cut to Market Perform at FBR.
Philips (PHG) Cut to Neutral at UBS.
JON C. OGG
These are some of the top pre-market analyst downgrades and negative analyst calls we have seen from Wall Street firms this Monday morning:
Barclays (BCS) Cut to Sell at Societe Generale.
Cadbury (CBY) Cut to Underweight at JPMorgan.
CBS (CBS) Cut to Sell at UBS.
China Life Insurance Co. Ltd. (LFC) Cut to Neutral at UBS.
China Mobile (CHL) Cut to Neutral at UBS.
Diebold (DBD) Cut to Neutral at Baird.
Emulex (ELX) Cut to Sector Perform at RBC.
NCR (NCR) Cut to Neutral at Baird.
Philips (PHG) Cut to Sell at Societe Generale.
Quality Systems (QSII) Cut to Sell at UBS.
JON C. OGG
These are the early bird analyst calls with upgrades and downgrades from Wall Street this morning with about two and a half hours until the market opens:
Cadbury (CBY) Raised to Buy at Jefferies.
CenterPoint Energy (CNP) Raised to Buy at Jefferies.
Dollar Tree (DLTR) Raised to Overweight at JPMorgan.
Philips (PHG) Raised to Neutral from underweight at HSBC.
Smithfield Foods (SFD) Raised to Overweight at JPMorgan.
Agrium (AGU) Cut to Neutral at UBS.
Allied Irish Banks (AIB) Cut to Sell at Citigroup.
Anglo American (AAUK) Cut to Underweight at JPMorgan.
Bank of Ireland (IRE) Cut to Sell at Citigroup.
Central European Media (CETV) Cut to Underweight at Thomas Weisel.
Jon C. Ogg
February 26, 2009
More and more companies are either suspending or killing their share repurchases and stock buyback plans. Some are doing it to conserve cash in a much harder operating environment. But many companies have figured out that shrinking their floats by a marginal amount does little to support their stocks. We have given some detailed data below on the "no more buybacks" status of Altria Group Inc. (NYSE: MO), 3M Co. (NYSE: MMM), Eastman Kodak Company (NYSE: EK), AT&T, Inc. (NYSE: T), and Royal Philips Electronics (NYSE: PHG).
These are not the only analyst calls out there, but these are the top calls that 247WallSt.com is focusing on today:
Jon C. Ogg
January 18, 2008
2007 was one volatile year and for now it appears that will be the norm for at least the start of 2008. Everyone’s favorite market pundit or least liked pundit is obviously Jim Cramer. If you love Cramer or can’t stand him it really doesn’t matter. He signed a new multi-year deal with CNBC recently. Here are some of his major calls this year that will still be referred to in 2008:
Here were Cramer’s TOP 9 STOCKS FOR 2007, with a call broken down for each one. Borat would say HI FIVE on some and NOT SO NICE on others, as would be expected. Cramer’s 14,582 year-end DJIA target…..Friday’s close was 13,365.87……although we did hit 14,279.96 on OCT11, 2007. Cramer also gave a batch of price targets on most of theDJIA components:
Cramer’s Stock Picks FOR 5-YEARS OUT:
SOME LISTS: His list of recession proof stocks compared to ours. We are updating our
Defensive Stocks For The First Half Of 2008" currently. Cramer gave a huge list of companies he expects to benefit from the alternative energy traders (SGR, FWLT, BWA, OMG, FSLR, FTEK, WFR, TTEK, ZOLT, BP, SPWR, CY, CPST, ITRI)… Jim Cramer pondered which US companies China would want to acquire, about 3 months before sovereign funds started buying into US companies. Cramer’s mortgage winners and losers…… Here were his MAJOR BULL MARKET STOCK PICKS(MHS, CVS, AGN, CELG, GENZ, CEPH, RIG, HAL, EMR, CAT, CMI, UTX, KO,PEP, CL, GS, SKS, VFC, UNP, CSX, BA), some of which are DJIAcomponents. Cramer produced a "MUST OWN" list of stocks, many of whichare up significantly and some are down (WHR, BDK, ATI, BGC, HON, ASD, JCI, MDR, FWLT, CAT, TEX, DE, QCOM)
Cramer spent lots of time on International stocks that most US investors might not cover on their own. He made a big call on Mercadolibre (MELI) (also BIDU, GOOG) with some emphasis on buying immediately, right before it made a huge run up. Cramer’s Hidden Video Game Investment Perfect World (PWRD, ATVI, ERTS, VIA) was one he said could run more than 50% for 2008. Cramer made 5 TOP CHINESE PICKS (CEO, CHL, SSW, FMCN, BIDU, GMR). We’ll see in 2008 if any of his Canadian OIL TRUSTS get acquired in 2008 (BTE, CNE, PGH, PVX, PWE, AAV, GDI). Cramer also went over his top picks from Europe for American investors (TOT, SI, ABB, PHG, BF)
ON TECHNOLOGY: Cramer’s NEW HORSEMEN OF TECH…. will the list change in 2008??? Did Cramer Say $1,000.00 on Google, Or Is It $600.00? That was in May 2007. Cramer Gave Monster Price targets to Baidu.com (BIDU, GOOG).. will these targets change in 2008? Cramer was very positive on all the GPS stocks,although we’d expect that Cramer will change his tune in 2008 now thatthe holiday madness is behind us (GRMN, UA, CROX, NVT, TRMB, SIRF).
Would it be fair not to include the Barron’s attack on Cramer from summer for those of you that criticize his every word?
ON WARREN BUFFETT…. Cramer noted that BROOKFIELD ASSET MANAGEMENT in Canada may be the next Berkshire Hathaway (NYSE:BRK/A) NYSE: BAM). Cramer reviewed 10 Warren Buffett stocks for analysis and then reviewed 10 More Warren Buffett stocks:
Will his buyout of ALCOA (AA) prediction come true in 2008??? Cramer gave a list of stocks that had bought back so much stock that they might be taking themselves private.
Join our free email distribution list for other Cramer calls or for updates we send out regarding IPO’s, spin-offs, restructuring, reorganization, activist investors and more.
Happy New Years from the 247WallSt.com team!
Jon C. Ogg
December 31, 2007
Below is a summary of many of the top headlines and news bits from individual stocks affecting share prices in pre-market trading this Wednesday:
Jon C. Ogg
December 19, 2007
These are not teh only impact analyst calls today impacting stocks, but these are the key calls that 24/7 Wall St. is focusing on. This isn’t exactly 10 if you look at the bullet points, but that is because some of the research calls are multi-stock calls:
Jon C. Ogg
November 30, 2007
Tonight on CNBC’s MAD MONEY, Jim Cramer wanted to discuss some trades off of fresh deals.
After Abu Dhabi invested $7.5 Billion into Citigroup (NYSE:C), Cramer wanted to look elsewhere to see what would be an easy investment. Interestingly enough, Cramer said he thinks that Halliburton (NYSE:HAL) might be that play since it has moved to the Middle East. He also thinks that there would be no issue in the Arabs taking a stake, He also still likes it on its own and really likes its buyback. Halliburton was also one of Cramer’s TOP VALUE PICKS FOR 2007.
Based on Philps (NYSE:PHG) acquiring Genlyte (NASDAQ:GLYT) yesterday, he thinks that the value for Acuity Brands (NYSE:AYI) just went up and it might be a better buyout candidate as a sympathy play. He said he even thinks Philips may go after it. The number 1 maker of light fixtures in the U.S. and Cramer thinks this one could be next. The stock was up sharply yesterday, but it gave most of the gains back and is still hovering barely $4 above its 52-week lows. At the same valuation as Genlyte and if you averaged it out you would end up with a $19 premium to today’s price.
If you want to see occasional Cramer comparisons and references to mergers and pending IPO’s, special situations, merger arbitrage, and more that are often not discussed on the public site, you can join our open email distribution list that gets sent out up to twice or three times per week.
Jon C. Ogg
November 27, 2007
Genlyte Group Inc. (NASDAQ:GLYT) is seeing its shares surge pre-market. Royal Philips Electronics (NYSE:PHG) is acquiring the manufacturer of residential and commercial lights and lighting fixtures in a deal valued at $2.7 Billion. The buyout price is $95.50 per share for holders. Genlyte’s board of directors approved this deal and is recommending holders to vote in favor.
This is supposedly making Philips the number one lighting company, larger than General Electric (NYSE:GE), in the United States now with the closure expected in Q1 2008. We haven’t seen any measurement of the metrics behind that claim, so we aren’t sticking any official claims or statements there on that.
Here are Genlyte’s brand names: Alkco, Allscape, Ardee, Canlyte, Capri/Omega, Carsonite, Chloride Systems, Crescent, D’ac, Day-Brite, Gardco, Guth, Hadco, Hanover Lantern, High-Lites, Hoffmeister, Lam, Ledalite, Lightolier, Lightolier Controls, Lumec, Morlite, Nessen, Quality, Shakespeare Composite Structures, Specialty, Stonco, Strand, Thomas Lighting, Thomas Lighting Canada, Vari-Lite, Vista, and Wide-Lite.
Shares are trading up 50% at $94.10 pre-market, and its 52-week trading range is $57.15 to $87.90.
Jon C. Ogg
November 26, 2007
Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.
Aetna (AET) raised to Overweight at JPMorgan.
Bankrate (RATE) raised to Outperform at Bear Stearns.
Celgene (CELG) raised to Buy at Banc of America.
Deere (DE) raised to Buy at Banc of America.
Fannie Mae (FNM) and Freddie Mac both Downgraded to Neutral from Buy at UBS.
Grant Prideco (GRP) raised to Buy at UBS.
Intersil (ISIL) downgraded to Hold at Jefferies.
Philips Electonics (PHG) raised to Buy at Deutsche Bank.
Schering Plough (SGP) started as Buy at Goldman Sachs.
Tidewater (TDW) raised to Buy at Jefferies.
Jon C. Ogg
November 26, 2007
Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.
On tonight’s MAD MONEY on CNBC, Jim Cramer made his final "Investing In Europe" series pick. He went to France and named Total (NYSE:TOT) as the oil pick as his final pick for the European buy list. He likes their global footprint and they are looking at more developing country energy plays, but they are going where many American companies cannot get as much done. He also likes how well they operate even in Russia and Africa. Their refineries are also being upgraded to process the more sour crude that needs more refining, and this one is cheap compared to some of its US counterparts and is even trading more off its highs.
This series that Cramer did was all full of the big cap stocks in Europe. What this will prove in the end if these all go up is not so much that these were just incredible stock picks. It will prove we are in a major bull market and the market is willing to buy big cap stocks again. You could go make the exact same strategy picks out of Asia and probably come back with the same sort of results. Interestingly enough, in Cramer’s game plan for next week he ran more of a cautious note and suggested taking at least some profits. So it doesn’t seem he’s just going to chase winners endlessly. Cramer made other stock picks from Europe all week in his series, and here they are:
Thursday, he picked BASF (NYSE:BF) out of Germany as a chemical predator.
Wednesday, Cramer picked Siemens (NYSE:SI) as the major conglomerate for Europe that is similar to GE.
Tuesday, Cramer went to Switzerland’s infrastructure pick for the world as ABB Ltd. (NYSE:ABB).
Cramer’s first pick this week was Philips Electronics (NYSE:PHG) out of The Netherlands (NYSE:PHG).
Jon C. Ogg
July 20, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
If you look at the conglomerate short selling despite the actual rise in NYSE short selling, it appears that the short sellers finally decided that these large cap and mega-cap conglomerates were finally ready to hold their own in the stock market for the attention of investment dollars. Anyhow, there are some exceptions, but by and large the results speak for themselves.
Based on information received from members and member organizations,short interest increased to 12,950,726,148 from 12,467,283,409 as ofJune 15, 2007.
CONGLOMERATE (TICKER) JULY JUNE CHANGE
General Electric (GE) 59.15M 59.90M -1.26%
3M Co. (MMM) 8.57M 9.95M -13%
United Tech (UTX) 9.13M 7.87M +15%
Textron (TXT) 1.26M 1.52M -16%
Brookfield Asset Mgmt. (BAM) 1.49M 1.00M +49%
Philips (PHG) 946K 995K -5%
Siemens (SI) 623K 1.02M -39%
Jon C. Ogg
July 20, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
On tonight’s MAD MONEY on CNBC, Jim Cramer continued his stock pick series for "Investing in Europe." Tonight his pick is from Germany: Siemens AG (NYSE:SI/ADR). He likes the conglomerate that participates in 9 sectors: medical, manufacturing, parts, emerging tech, communications, and everything else under the sun. He thinks this was one of his $80+ to $120, because it went from under $80.00 to over $140.00. He considers this as Europe’s version of General Electric (NYSE:GE). This also lets them win projects that other companies cannot handle.
Here is the problem with this call, Siemens is a great company but it’s valuations look higher than most of the other large conglomerates. Its market cap is $131 Billion on a currency adjusted basis. Part of the 100% rise in ADR’s is because of the weak dollar, but even in Euros this stock is up more than 60% over the last year.
Cramer has his "Stock Picks from the EU" series this week. He’s picking diversified payers with large market caps, and these have been big performers. His ADR pick on Tuesday was ABB Ltd. (NYSE:ABB) and Philips Electronics (NYSE:PHG) was his pick from Monday.
Jon C. Ogg
July 18, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
(ADTN) Adtran $0.28 EPS versus $0.28 estimate.
(AIZ) Assurant CEO and CFO received SEC WELLS NOTICE.
(ASD) American Standard noted as a positive ahead of split-up by Cramer on MAD MONEY.
(CVO) Cenveo is acquiring Commercial Envelope.
(DJ) Dow Jones has reportedly reached some terms with News Corp. over the merger according to WSJ reports; actual status varies from source to source so consider this still an outstanding issue until formal statements are made from one or both companies.
(ELS) Equity Lifestyle $0.59 EPS vs $0.58 estimate.
(ENCY) Encysive retained Morgan Stanley to assist in strategic review.
(FCFS) First Cash Financial $0.27 EPS vs $0.26 estimate.
(JNJ) J&J $1.05 EPS vs $1.00 estimate.
(KEY) KeyCorp $0.86 EPS vs $0.70e; raised guidance as well, but unsure if comparable.
(KO) Coca-Cola $0.85 EPS vs. $0.82 estimate.
(LYO) Lyondell is being acquired by Basell for $48.00 per share.
(MDT) Medtronic received approval for artificial disc for the neck.
(MER) Merrill Lynch $2.24 EPS vs $2.02 estimate.
(NLS) Nautilus traded down 12% after earnings.
(PHTN) Photon Dynamics sees results under plan for Q3.
(PHG) Philips Electronics noted positively as European play by Cramer on MAD MONEY.
(RF) Regions Financial $0.69 EPS vs $0.69 estimate.
(STT) State Street $1.07 EPS vs $1.01 estimate.
(WFC) Wells Fargo unveiled a money transfer program.
(WGOV) Woodward Governor noted positively by Cramer on MAD MONEY.
(XLNX) Xilinx’s Spartan-3E and MicroBlaze soft processor selected for Samsung Electronics’ latest digital video surveillance system.
Jon C. Ogg
July 17, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
On tonight’s MAD MONEY on CNBC, Jim Cramer said his new weekly feature will be to add Eurpoean stock picks into his portfolio. The markets in Europe are hot despite higher taxes and rising interest rates. Cramer said the easy play is the European ETF’s, but then he took his stance that ETF’s are just another product scam to him. He’d rather focus on best of breed names.
The Netherlands has Philips Electronics (NYSE:PHG), and that is one of Cramer’s top picks for the series. The company was a dead money stock a few years ago without much going on, but now they have pared back operating picks. He thinks the company is worth 20% more than it is listed as right now. It has four segments and the non-core operations and investments/stakes that could be worth yet another $10.00. One such holding is Taiwan Semi (NYSE-TSM).
This call is hard to argue against, even if you took the ‘anti-Cramer stance’ no matter what. As a value stock, you could even make the argument that this one could have been in one of his Top Value Picks for 2007 (even though it wasn’t). The company still has Billion’s it owns in stakes of public companies. It has been able to keep winning medical equipment business and its green business initiatives have been getting good press. It also has been trying to focus on more and more core-operations so it can more easily derive value. It has even been able to hedge its currency risk with business in the US and the weak US Dollar. Lastly, this large cap is fairly liquid and somewhat widely held for an ADR. Shares did trade down almost 2% today after earnings were released, so barring any major downgrades tomorrow the specific event risk has largely been taken out of the stock.
Jon C. Ogg
July 16, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
According to Reuters, the group lead by RBS has raised its bid for ABN Amro (ABN) by increasing the cash component of the offer.
Reuters writes that Ford (F) is now cosidering selling its Volvo unit.
Reuters reports that the Dubai stock market is making a bid for OMX that will compete with Nasday (NDAQ).
Philips Electronics (PHG) increased earnings by 22% according to Reuters.
The Wall Street Journal reports that one of the members of the founding family that controls Dow Jone (DJ) is trying to block its sale to Rupert Murdoch.
The Wall Street Journal writes that China is about to pass Germany as the world’s third largest economy.
The New York Times writes that Sony (SNE) will launch a new website for aspiring film markets.
The FT says that the head of Cisco (CSCO) believes that Web 2.0 will lead to a period of productivity that has not been seen since the internet boom.
Douglas A. McIntyre
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