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24/7 Wall St. Closing Bell (INTC, KALU, NOR, MA, V, BBY, FDS, FCEL, PTRY, MILL, LIVE, SYNO, RVSN, ECYT, IVN, GMCR, FST)

Paul Ausick — Tue, 13 Dec 2011 21:09:38 +0000

Stocks opened firmly higher this morning and the DJIA rose by more than 130 points in the first hour of trading. The dollar gained strength against the euro putting more enthusiasm into the market. Investors were also hoping that the Fed would indicate that a new round of quantitative easing would be available instantly if necessary. That didn’t work out however, and equities tumbled following the Fed’s mid-afternoon statement. Crude oil also rose on a threat from Iran to block the Strait of Hormuz. WTI crude is up more than 2%, at $99.81/barrel after topping $100 earlier in the day, and Brent crude is up 1.9% at 109.30/barrel. Gold is down nearly -2%, at $1,636.90.

The unofficial closing bells put the DJIA down more than 66 points to 11,954.94 (-0.55%), the NASDAQ fell nearly 33 points (-1.26%) to 2,579.27, and the S&P 500 fell -0.87% or nearly 11 points to 1,225.73.

There were several analyst upgrades and downgrades today, including Intel Corp. (NASDAQ: INTC) maintained ‘outperform’ but estimates cut at Credit Suisse and maintained ‘hold’ with a $24 price target at Canaccord Genuity. Other ratings actions today include Kaiser Aluminum Corp. (NASDAQ: KALU) started as ‘buy’ at BofA/Merrill Lynch; Noranda Aluminum Holding Corp. (NYSE: NOR) started as ‘buy’ at BofA/ML; Mastercard Inc. (NYSE: MA) and Visa Inc. (NYSE: V) both started as ‘buy’ at Nomura.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Best Buy Co. Inc. (NYSE: BBY) is down more than -15.5% at $23.68 (more details here); FactSet Research Systems, Inc. (NYSE: FDS) is down more than -8% at $87.01; FuelCell Energy Inc. (NASDAQ: FCEL) is down more than -15% at $0.93; The Pantry Inc. (NASDAQ: PTRY) is down more than -12% at $10.41, after posting a new 52-week low earlier today of $9.52; and Miller Energy Resources, Inc. (NYSE: MILL) is down nearly -11% at $2.90.

Other standouts from today include the following stocks:

LiveDeal Inc. (NASDAQ: LIVE) is up more than 236%, at $4.88. The customer acquisition company issued 1.6 million shares of new stock, raising its capital by by $2 million and enabling it to meet Nasdaq listing requirements.

Synovis Life Technologies, Inc. (NASDAQ: SYNO) is up more than 50%, at $27.78. The medical device maker agreed to be acquired by Baxter International Inc. (NYSE: BAX) for $28/share, a 52% premium to the stock’s Monday closing price. The deal is worth $325 million.

RADVision Ltd. (NASDAQ: RVSN) is up more than 14%, at $9.62. The communications equipment maker is said to be an acquisition target for Avaya at a price of around $200 million.

Endocyte Inc. (NASDAQ: ECYT) is down more than -65%, at $3.56, a new 52-week low. The pharmaceutical maker announced that trials of a new cancer drug have not shown that the drug helps patients live longer.

Ivanhoe Mines Ltd. (NYSE: IVN) is down nearly -22%, at $16.16. The junior miner lost a court decision to Rio Tinto plc (NYSE: RIO) which essentially kills Ivanhoe’s poison pill plan. Rio owns 49% of Ivanhoe and can maintain that stake regardless of new share issuances until April 2013.

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is down more than -11%, at $50.03. The coffee merchant has lost some market share for its single-cup coffee products, and prices are also falling.

Forest Oil Corp. (NYSE: FST) is down nearly -13%, at $14.01. The oil & gas E&P company announced its outlook for 2012, and analysts were disappointed with the level of capital expenditures and cash flows.

Stay tuned for Wednesday. Dennis Lockhart, president of the Atlanta Federal Reserve Bank, is giving a speech in the morning. Here are some other noteworthy events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 30-year Treasury bond auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: BBY, ECYT, FCEL, FDS, FST, GMCR, INTC, IVN, KALU, LIVE, MA, MILL, NOR, PTRY, RVSN, SYNO, V

Top Pre-Market Analyst Downgrades (ADTN, AFL, CBS, DDUP, ENR, INWK, PCS, PTRY, RGLD, SYK)

247wallst — Tue, 27 Jan 2009 07:17:21 +0000

These are some of this Tuesday’s top pre-market analyst downgrades and cautious research calls from Wall Street that we have seen with more than two hours until the opens:

ADTRAN (ADTN) Started as Equal-Weight at Barclays.
AFLAC (AFL) Cut to Hold at Deutsche Bank.
CBS (CBS) Cut to Underperform at Bernstein.
Data Domain (DDUP) Started as Sell at Broadpoint AmTech.
Energizer (ENR) Cut to Sell at UBS.
Innerworkings (INWK) Cut to Hold at Jefferies.
MetroPCS (PCS) Cut to Sector Perform ar RBC.
Pantry (PTRY) Cut to Market Perform at FBR.
Royal Gold (RGLD) Cut to Underweight at HSBC.
Stryker (SYK) Cut to Hold at Needham.

Jon C. Ogg
January 27, 2009

Posted in Analyst Calls Tagged: ADTN, AFL, CBS, DDUP, ENR, INWK, PCS, PTRY, RGLD, SYK

Top Early Bird Analyst Calls (JBT, XPRT, PTRY, SNY, ERIC, LLTC, MXIM, NSM, NFC, RTP, SAI)

247wallst — Mon, 24 Nov 2008 07:16:47 +0000

These are some of the top pre-market analyst upgrades, downgrades, and initiations we are seeing early this Monday morning with more than two hours until the open:

John Bean Technologies (JBT) Started as Buy at Janney Montgomery.
LECG Corp. (XPRT) Raised to Buy at UBS.
Pantry Inc. (PTRY) Raised to Outperform at FBR.
Sanofi-Aventis (SNY) Raised to Overweight at Morgan Stanley.
Ericsson (ERIC) Cut to Underperform at Credit Suisse.
Linear Tech (LLTC) Cut to Underperform at FBR.
Maxim Integrated (MXIM) Cut to underperform at FBR.
National Semiconductor (NSM) Cut to Market Perform at FBR.
Nationwide Financial (NFC) Cut to Neutral at UBS.
Rio Tinto (RTP) Cut to Hold at Canaccord.
SAIC (SAI) Cut to Underweight at JPMorgan.

Jon C. Ogg
November 24, 2008

Posted in Analyst Calls Tagged: ERIC, JBT, LLTC, MXIM, NFC, NSM, PTRY, RTP, SAI, SNY, XPRT

Early-Bird Analyst Downgrades (CMVT, CTRP, GET, DNA, HAR, JNJ, PTRY, WDFC)

247wallst — Fri, 15 Aug 2008 06:13:09 +0000

These are some of the early analyst calls we are seeing early this Friday morning:

Comverse Technology (CMVT) Cut to Neutral at JPMorgan.
Ctrip.com (CTRP) Cut estimates and maintained Buy but target cut 1/3 to $53 by Citigroup.
Gaylord Entertainment (GET) Cut to Market Perform at Wachovia.
Genentech (DNA) Cut to Hold at Citigroup.
Harman (HAR) Cut to Neutral at Baird.
J&J (JNJ) Cut to Neutral at UBS.
Pantry (PTRY) Cut to Market Perform at FBR.
WD-40 (WDFC) Cut to Underweight at JPMorgan.

Jon C. Ogg
August 15, 2008

The 52-Week Low Club (TWB)(FMD)(CHS)(PTRY)(GSAT)(VMED)

247wallst — Thu, 10 Apr 2008 15:02:50 +0000

Tween Brands (TWB) Cuts Q1 outlooks. Sells down to $17.85 from 52-week high of $49.

First Marblehead (FMD) Investment deal from Goldman Sachs looks weak. Down to $3.12 from 52-week high of $45.70.

Chico’s FAS (CHS) Weak same-store sales. Falls to $5.42 from 52-week high of $27.94.

Pantry (PTRY) Brokerage downgrade. Sells off to $11.20 from 52-week high of $48.96.

Globalstar (GSAT) Raising money through note offering. Down to $3.98 from 52-week high of $12.35.

Virgin Media (VMED) Large bond offering and downgrade. Slips to $12.37 from 52-week high of $30.

Douglas A. McIntyre

The 52-Week Low Club: Home Builders By The Ton

247wallst — Tue, 10 Jul 2007 15:26:01 +0000

Already regular members, today’s list includes Meritage (MTH), KB Home (KBH), Pulte (PHM), Lennar (LEN), and Beazer (BZH).

Circuit City (CC) Electronics retail continues to disappoint. Down to $14.60 from $29.31 as 52-week high.

Office Depot (ODP) Company blames slow economy for poor sales.

Depomed Inc (DEPO) Biomed company runs into poor clinical trials, drops 60%. Shares down to $1.83 from 52-week high of $5.24.

Physicians Formula (FACE) Cuts Q2 and full-year outlook. Down to $11.32 from 52-week high of $23.25.

Pantry Inc (PTRY) Convenience store cuts outlook due to high gas prices. Drops to $39.55 from 52-week high of $60.35.

Douglas A. McIntyre

Pre-Market Analyst Calls (June 15, 2007)

247wallst — Fri, 15 Jun 2007 06:26:48 +0000

ABCO started as Outperform at CIBC.
AXTI started as Buy at First Albany.
BKD started as Buy at Jefferies.
BOOM started as Buy at First Albany.
CQB started as Buy at Morgan Joseph.
EXBD started as Sector Perform at CIBC.
FCN started as Outperform at CIBC.
FRE raised to Outperform at FBR.
HCBK started as Underperform at Bear Stearns.
HNSN started as Buy at Oppenheimer.
HOMB started as Sector Perform RBC.
INTC raised to Buy at Goldman Sachs; stock up almost 2%.
IIVI started as Buy at First Albany.
KNDL raised to Buy at Jefferies.
LGCY started as Buy at Oppenheimer.
NFS raised to Buy at Citigroup.
NFLX raised to Buy at Soleil.
PNX cut to Hold at Citigroup.
PTRY raised to Buy at Jefferies.
SFG raised to Buy at Citigroup.
VLY started as Peer Perform at Bear Stearns.
WSO cut to Hold at BB&T.

Jon C. Ogg
June 15, 2007