Posts for Ticker ‘PRU’

Top 10 Analyst Upgrades, Downgrades, Initiations (ATVI, AMLN, CEPH, CEO, ERTS, EXPE, PCLN, PRU, TIF, UNP)

These are this Tuesday morning’s top 10 analyst upgrades, downgrades, and initiations we have seen early this morning in Wall Street research calls:

Activision Blizzard (NASDAQ: ATVI) Started as Outperform at Wells Fargo.
Amylin Pharmaceuticals (NASDAQ: AMLN) Raised to Overweight at Barclays.
Cephalon (NASDAQ: CEPH) Raised to Buy at Jefferies.
CNOOC (NYSE: CEO) Started as Sell at RBS.
Electronic Arts (NASDAQ: ERTS) Started as Market Perform at Wells Fargo.
Expedia (NASDAQ: EXPE) Started as Buy at Collins Stewart.
Priceline.com (NASDAQ: PCLN) Started as Hold at Collins Stewart.
Prudential Financial (NYSE: PRU) Raised to Outperform at Wells Fargo.
Tiffany & Co. (NYSE: TIF) Started as Buy KeyBanc.
Union Pacific (NYSE: UNP) Cut to Neutral at UBS.

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JON C. OGG
NOVEMBER 24, 2009

Posted on: November 24, 2009 – 7:42 am in Analyst Calls, Pre-Market Activity, Trading Alert, , , , , , , , , ,

Top Analyst Downgrades (ALU, CTAS, CCL, CMC, CTV, JNPR, PRU, STI, TLAB)

These are the early analyst downgrades and cautious research calls seen from Wall Street firms this Wednesday morning:

Alcatel-Lucent (ALU) downgraded to Neutral at RW Baird.
Cintas (CTAS) downgraded to Underperform at RW Baird.
Carnival (CCL) downgraded to Neutral at Credit Suisse.
Commercial Metals (CMC) downgraded to Neutral at UBS.
CommScope (CTV) downgraded to Neutral at RW Baird.
Juniper (JNPR) downgraded to Neutral at RW Baird.
Prudential (PRU) downgraded to Equal Weight at Morgan Stanley.
SunTrust (STI) Started as Underperform at Wells Fargo
Tellabs (TLAB) downgraded to Neutral at RW Baird.

JON C. OGG

Posted on: September 23, 2009 – 7:56 am in Analyst Calls, , , , , , , , ,

Top 10 Analyst Upgrades & Downgrades (AZN, BDN, CHA, HURN, PRU, PETM, RF, SOL, RDS-B, TWB, UA)

These are Thursday’s top ten analyst research summary upgrades, downgrades, and initiations from Wall Street brokerage firms:

AstraZeneca (AZN) Cut to Hold at Citigroup.
Brandywine Realty (BDN) Cut to Neutral at BofA/Merrill Lynch.
China Telecom (CHA) Raised to Hold from Sell at Deutsche Bank.
Huron Consulting (HURN) Raised to Neutral from Underperform at at Baird.
Prudential (PRU) Raised to Outperform at FBR.
PetSmart (PETM) Cut to Neutral from Outperform at Credit Suisse.
Regions Financial (RF) Cut to Hold at Deutsche Bank.
ReneSola (SOL) Raised to Buy from Neutral at Goldman Sachs.
Royal Dutch Shell (RDS-B) Raised to Buy at Citigroup.
Tween Brands (TWB) Raised to Hold from Sell at Citigroup.
Under Armour (UA) Cut to Underweight from Hold at KeyBanc.

JON C. OGG
August 20, 2009

Posted on: August 20, 2009 – 7:48 am in Analyst Calls, , , , , , , , , , ,

Media Digest 8/6/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   A bubble may be forming in the corporate bond market.

Reuters:   Wall St. firms have made $1 billion on the break up of AIG (AIG). Morgan Stanley(MS), Goldman Sachs (GS), JP Morgan (JPM) and Blackstone (BX) could get large fees.

Reuters:   A judge would not approve an SEC settlement with Bank of America (BAC) Read More »

Posted on: August 6, 2009 – 3:58 am in Press Digest, , , , , , , , , , , , , , , , , , , , , ,

Top Analyst Upgrades (BK, NILE, LLL, NTRS, PRU, VMW, YHOO)

These are some of the top pre-market analyst upgrades and positive research calls we have seen from Wall Street early this Tuesday morning:

Bank of New York Mellon (BK) Raised to Buy at BofA/Merrill.
Blue Nile (NILE) Raised to Buy at Citigroup.
L-3 Communications (LLL) Raised to Overweight at JP Morgan.
Northern Trust (NTRS) Raised to Buy at BofA/Merrill.
Prudential (PRU) Raised to Overweight at JP Morgan.
VMware (VMW) Raised to Hold at Jefferies.
Yahoo! (YHOO) Started as Buy at Canaccord.

JON C. OGG

Posted on: July 14, 2009 – 6:32 am in Analyst Calls, , , , , , ,

Media Digest 7/9/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   The promise of mobile TV is being destroyed by smartphone use of software applications.

Reuters:   More attacks on websites in the West are expected and North Korea is suspected.

Reuters:   China has arrested Rio Tinto (RTP) employees.

Reuters:   The age of the media mogul may be over. Read More »

Posted on: July 9, 2009 – 3:07 am in Press Digest, , , , , , , , , , , , , , , , ,

Media Digest 6/16/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   The US outlined new financial market reforms.

Reuters:   Obama lobbied MDs on his new healthcare package.

Reuters:   Russia hosted the first BRIC summit.

Reuters:   B of A’s (BAC) BlackRock (BLK) stake is more appealing.

Reuters:   Samsung and Nokia (NOK) are pushing into smartphones. (MOT)(AAPL)(RIMM). Read More »

Posted on: June 16, 2009 – 3:01 am in Autos, Banking, Drug companies, Healthcare, Housing, Labor & Unions, Management Change, Media, PC Companies, Pharmaceuticals, Press Digest, Technology, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Media Digest 5/27/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   GM (GM) is close to filing Chapter 11.

Reuters:   A poll of economists says the US recession will end soon followed by modest growth.

Retuers:   The mood of US consumers rose despite falling home prices.

Reuters:   Microsoft (MSFT) will launch a new Zune player later this year.

Reuters:   China tries to make Macau a better bet for casinos than Las Vegas. Read More »

Posted on: May 27, 2009 – 2:59 am in Autos, Banking, China, Compensation, Consumer Electronics, Drug companies, Earnings, Hardware, Labor & Unions, Law, Media, Oil & Gas, Pharmaceuticals, Press Digest, Retail, Semiconductor, , , , , , , , , , , , , , ,

TARP Approved For Insurance Money: More Cash From The Taxpayer’s Pocket (LNC)(PRU)(HIG)(PFG)

bankThe Washington Post is reporting that the Treasury Department has granted approval for insurance companies to have access to TARP funds. It is not clear what that will do to the balance in the TARP “account.” By some estimates it is down to $115 billion. Some of the banks who have received funds plan to pay that money back in the coming months. Other banks may need additional capital from the TARP.

The news does mean that the financial bailout is spreading and that the Treasury must believe that there is some systemic risk to a failure of one or more of the large insurance companies.

Earlier reports are that the Hartford (HIG), Prudential (PRU), Lincoln National (LNC), and Principal Financial Group (PFG) will receive capital.

Now taxpayers can own shares in all of those companies, too.

Douglas A. McIntyre

Posted on: May 14, 2009 – 6:38 pm in Banking, Financial Stocks, , , ,

TARP Revisit: Were Life Insurers On the Brink? (MET, PRU, HIG, LNC, GNW, AIG)

burning-money-pic13There is one question that keeps making the rounds after the news of yesterday’s TARP bailout money inclusion being offered to life insurers.  Are these really close to falling into the abyss, all over again?  You will see the large gains racked up yesterday, but there is a lot more to this than may meet the eye.

Insurer (Ticker)………… Gain… Mkt Cap.. Comment (year stock drop)
MetLife, Inc. (MET)……… 2.36%.. $20.2B.. down almost 66%
Prudential Financial (PRU).. 7.74%.. $10.1B.. down almost 75%
Hartford Financial (HIG)…. 13.5%.. $3.12B.. down over 80%
Lincoln National (LNC)…… 32.80%. $2.3B… rose on debt repayments
Genworth Financial (GNW)…. 11.48%. $1.0B… down almost 90%

The questions and discussions that came from the financial community to us yesterday about the TARP money were not so much around the “freshness” of the data.  Some insurers had been in line for months.  The TARP was meant to allow for inclusion of some insurers which had bank holding companies, and some insurers had been complaining that they were being left out or being put at a competitive disadvantage after American International Group Inc. (NYSE: AIG) was receiving so much bailout money.  The issue boils down to liquidity, capitalization, and the sheer need of more capital.
Read More »

Posted on: April 9, 2009 – 5:08 am in Banking, Financial Stocks, Politics, Regulation, , , , , ,

The Bailout Expands To Life Insurance Firms, Money For The Deceased

water-lilies2There is no end to it, this process of bailing out financial institutions. Once the banks were stable, the rest of the sector was supposed to become more solid. That has not worked. Banks are not yet stable, and the life insurance industry is now stepping forward asking for relief from its plight to become part of the Great Rescue of 2009. Read More »

Posted on: April 8, 2009 – 4:46 am in Financial Stocks, ,

Unemployment Picks Up Speed While Bailout Slows

bear6A new Reuters poll of economists does not offer much hope for an improvement in the nation’s financial condition. Many see unemployment topping 10%. The news service reports that “Median forecasts now assume gross domestic product will shrink an annualized 5.3 percent this quarter, following a brutal 6.2 percent decline at the end of 2008.”

On another front, data from the states shows that four now have unemployment rates above 10% and some have recorded joblessness well in excess of 9%. Read More »

Posted on: March 12, 2009 – 5:06 am in Economy, Politics, , , , ,

Top Pre-Market Analyst Downgrades (ABX, COGT, GMR, GG, NEM, NAT, PRU, UBS, X, WOR)

These are some of the top pre-market analyst downgrades we have seen early this Monday morning:

  • Barrick (ABX) Cut to Neutral at UBS.
  • Cogent (COGT) Cut to Neutral at JPMorgan.
  • General Maritime (GMR) Cut to Neutral at JPMorgan.
  • Goldcorp (GG) Cut to Neutral at UBS.
  • Newmont (NEM) Cut to Neutral at UBS.
  • Nordic American Tanker (NAT) Cut to Underweight at JPMorgan.
  • Prudential (PRU) Cut to Marekt Perform at FBR.
  • UBS (UBS) Cut to Neutral at Merrill Lynch.
  • US Steel (X) Cut to Hold at Deutsche Bank.
  • Worthington (WOR) Cut to Underperform at CIBC.

Jon C. Ogg
December 22, 2008

Posted on: December 22, 2008 – 7:54 am in Analyst Calls, , , , , , , , , ,

Financial Bailouts Keep Coming, From Competitors (AIG, PRU, RBS, ING)

Broken_merger_torn_moneyThere are many new initiatives for "taking stakes" and "financing packages" this morning.  Most of these seem to be coming from actual competitors rather than from our government, although that isn’t the case in the continental European scenario.

Read More »

Posted on: October 20, 2008 – 8:29 am in Banking, Financial Stocks, , , ,

Top Pre-Market Analyst Downgrades (CENT, HELE, INTC, LBY, MET, MNST, POZN, PRU)

These are some of the top analyst downgrades we are seeing early this Monday morning:

  • Central Garden & Pet (CENT) Cut to Underperform at Jefferies.
  • Helen of Troy (HELE) Cut to Hold at Jefferies.
  • Intel (INTC) Cut to Neutral at Goldman Sachs.
  • Libbey (LBY) Cut to Underperform at Jefferies.
  • MetLife (MET) Cut to Neutral at Goldman Sachs.
  • Monster Worldwide (MNST) Cut to Hold at Citigroup.
  • Pozen (POZN) Cut to Hold at Citigroup, Cut to Underperform at Jefferies.
  • Prudential Financial (PRU) Cut to Sell at Goldman Sachs.

Jon C. Ogg
October 20, 2008

Posted on: October 20, 2008 – 6:48 am in Analyst Calls, , , , , , , ,

Top Pre-Market Analyst Upgrades (CTRP, GS, LEH, MRVL, NLC, NUVA, PRU, RF, RIG, USG, ZION)

These are some of the top early bird analyst upgrades and positive calls we are seeing this Monday morning with more than two hours to the open:

  • Ctrip.com (CTRP) Started as Outperform at Credit Suisse.
  • Goldman Sachs (GS) Raised to Buy at Merrill Lynch.
  • Lehman Brothers (LEH) Raised to Neutral at Merrill Lynch.
  • Marvell Tech (MRVL) Raised to Outperform at Morgan Keegan.
  • Nalco Holding (NLC) Raised to Neutral (from Sell) at Goldman Sachs.
  • NuVasive (NUVA) Started as Buy at Piper Jaffray.
  • Prudential Financial (PRU) Raised to Outperform at FBR.
  • Regions Financial (RF) Raised To Market Perform at FBR.
  • Transocean (RIG) Raised to Hold from Sell at Deutsche Bank.
  • USG (USG) Raised to Neutral at JPMorgan.
  • Zions Bancorp (ZION) Raised to Outperform at FBR.

Jon C. Ogg
September 8, 2008

Posted on: September 8, 2008 – 6:31 am in Analyst Calls, , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (ATI, AIV, DELL, GPS, JTX, KSU, NDAQ, PRU, SIRI, AUY)

These are not the only analyst calls impacting stocks, but these are the top analyst calls that 247WallSt.com is focusing on this Friday in pre-market trading:

  • Allegheny Tech (NYSE: ATI) cut to Neutral from Outperform at Cowen & Co.
  • Apartment Investment (NYSE: AIV) Cut to Neutral from Outperform at Credit Suisse.
  • Dell Inc. (NASDAQ: DELL) Cut to Neutral from Buy at Goldman Sachs.
  • Gap Inc (NYSE: GPS) Cut to Neutral from Outperform at Credit Suisse.
  • Jackson Hewitt (NYSE: JTX) Raised to Buy from Neutral at Goldman Sachs.
  • Kansas City Southern (NYSE: KSU) Cut to Neutral from Buy at UBS.
  • NASDAQ OMX (NASDAQ: NDAQ) Started as Neutral at UBS.
  • Prudential Financial (NYSE: PRU) Raised to Overweight from Underweight at Lehman.
  • Sirius Satellite Radio (NASDAQ: SIRI) cut to Neutral from Outperform at Credit Suisse.
  • Yamana Gold (NYSE: AUY) raised to Buy at UBS.

Jon C. Ogg
April 4, 2008

Posted on: April 4, 2008 – 6:38 am in Analyst Calls, , , , , , , , , ,

The 52-Week Low Club (AIG)(PRU)(ALL)(NURO)

American International Group (NYSE: AIG) Warns about more potentia write-offs and bad financial controls. Falls to $44.52 from 52-week high of $72.97.

PNM Res (NYSE: PNM) Numbers miss Wall St. estimates. Drops to $13.31 from 52-week high of $34.28.

CNA Financial (NYSE: CNA) Profits drop on investment losses. Shares sell off to $25.17 from 52-week high of $51.96.

Prudential NYSE: PRU) Industry woes and still slipping from earnings. Down to $66.76 from 52-week high of $103.27.

UBS (NYSE: UBS), Allstate (NYSE: ALL), and HSBC (NYSE: HBC) also all hit new lows.

Neurometrix (NASDAQ:NURO) Appears one of the company’s medical devices did not get approval. Falls to $5.25 from 52-week high $12.10.

Syntax Brillian NASDAQ: BRLC)  Delays filing results. Drops to $1.88 from 52-week high of $9.08.

Douglas A. McIntyre

Posted on: February 11, 2008 – 3:58 pm in HI/LOW, , , , , , , , ,

The 52-Week Low Club (NT)(GSK)(IAR)(IFX)

Idearc (NYSE: IAR) Big earnings miss mugs shares, Down to $11.21 from 52-week high of $38.

Infineon Technologies (NYSE: IFX) German company posts weak numbers. Sells off to $7.89 from 52-week high of 18.74.

R H Donnelley  (NYSE: RHD) Printing operation has rough day. Falls to $21.10 from 52-week high of $84.49.

Prudential (NYSE: PRU) Joins other financials in the basement. Drops to $69.05 from 52-week high of $103.27.

Nortel Networks (NYSE: NT) Concerns about tech catch up to enterprise telecom equipment firm. Falls off to $10.95 from 52-week high of $31.79.

GlaxoSmithKline (NYSE: GSK) Drug maker has headache. Sells off to $41.71 on earnings from 52-wek high of $59.98.

Orion Energy Systems (NASD:OESX) Brutal quarter. Drops to $6.56 from 52-week high of $22.46.

Edge Petroleum  (NASD: EPEX) Company is selling some of its assets. Sells off to $4.05 from 52-week high of $15.78.

Select Comfort (NASD: SCSS) Bad quarter and downgrade. Drops to $4.94 from 2-week high of $20.17.

Douglas A. McIntyre

Posted on: February 7, 2008 – 4:04 pm in HI/LOW, , , , , , , , ,

Prudential’s Aggressive Share Repurchases (PRU)

Prudential Financial, Inc. (NYSE:PRU) has declared an annual dividend for 2007 of $1.15 per share of Common Stock, which represents an increase of 21% percent over the 2006 dividend.

But perhaps even more importantly, Prudential has authorized repurchases of up to $3.5 billion of its outstanding Common Stock in calendar year 2008 under the company’s stock repurchase program.  The board of directors had previously authorized the repurchase of up to $3 billion of its outstanding Common Stock in 2007, and from January 1 to November 12, 2007, the company has repurchased approximately $2.6 billion of its Common Stock under the authorization for 2007.

At a $97.00 handle, and assuming the same amount of buybacks for 2008 as 2007, that would represent 26.8 million shares if no more shares were purchased.  If the company used its entire $3.5 Billion arsenal, it would represent about 36 million shares.  That’s not bad for a stock with an average daily volume of about 2.6 million shares.

Prudential’s 52-week trading range is $78.22 to $97.23.  Hopefully this isn’t masking some major debt issue on the books.

Jon C. Ogg
November 13, 2007

Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: November 13, 2007 – 4:14 pm in Dividend, Financial Stocks, Stock Buybacks,