No money was injured while filming

Buffalo Wild Wings Inc. (NASDAQ: BWLD) has been a phenomenal stock and it is a very well-run company.  It arguably has a brand leadership role, at least for public companies, in its restaurant mix of feel-good food, beer, and a sports bar all rolled into one.  That being said, its current share price does not seem to reflect the risks of a fall season without the NFL and without the NBA.  It is not alone.

There are also risks in shares of BJ’s Restaurants, Inc. (NASDAQ: BJRI), Domino’s Pizza, Inc. (NYSE: DPZ), Papa John’s International Inc. (NASDAQ: PZZA), Dreams Inc. (AMEX: DRJ), Collectors Universe Inc. (NASDAQ: CLCT), and in Under Armour, Inc. (NYSE: UA).  There are certainly others which would be considered at risk, but these are the most likely to be sports-sensitive out of our current watch-lists.

As of today, the professional football season is still a question mark.  As of today, there is a lock-out in the NBA level for professional basketball that looks certain to delay the season.  It was believed that Buffalo Wild Wings could mitigate one league being on the sidelines.  Now, strikes have the risks being in the August-football and October-basketball being on the sidelines.  Sure, there is the Saturday flurry for college football and through September there will be baseball games on just about every single day.  There are also other sports matches that will be played.

What Buffalo Wild Wings DOES have working in its favor is several key issues.  Gas prices are lower and food prices are falling and expected to fall even more this year.  The really good news is that chicken wing prices in particular will be sharply lower if the NBA and NFL go dark for this season.  The rise in beer prices has also likely peaked.  That means that promotions will vary from wing chain to wing chain, but the idea that Hooters or Buffalo Wild Wings will cut prices deeply (other than the promotions and giveaways) is not something we would expect to see on the full menu day in and day out.  Companies know that raising prices on the full menu is hard to do.

The reality is that Buffalo Wild Wings is not alone in its risks of a seasonal lock-out in two professional sports.  We already noted Hooters, even if it is private.  It is also not just food chains at risk if the NBA and NFL go without a 2011-2012 season.  These are some other observed names with real risk if both the NBA and NFL, and we have tried to list the good news about each as well.  These are as follows:

BJ’s Restaurants, Inc. (NASDAQ: BJRI) just hit a new 52-week and all-time high of $54.82 today.  It has a high forward P/E of almost 50-times earnings with some 107 owned and/or operated casual dining restaurants.  The good news here is that BJ’s is not just a sports destination.  The bad news is that it feels priced for perfection, even if we ultimately think a private equity group would love to own this chain.

Domino’s Pizza, Inc. (NYSE: DPZ) and Papa John’s International Inc. (NASDAQ: PZZA) are in the same boat being equally tied to pizza and other comfort foods available for delivery or pick-up.  Papa John’s stock has actually pulled back more (with a downgrade today from SunTrust) at $32.13 from its 52-week highs of $34.75.  Domino’s is getting very close to now being outside of our “value zone” after we picked it out in April when shares were under $19.00.  If NBA games and NFL games are not going to be there this year, Domino’s could easily find its multi-pizza orders suffering from fewer house party events around sports.

Dreams Inc. (AMEX: DRJ) was previously lower on the thought that the NFL no-season was mostly priced into the stock.  At $2.60, its 52-week trading range is $1.17 to $3.18 but it is currently close to 3-month highs.  Sports licensed products and collector case sales are likely to suffer without NBA and NFL seasons combined.

Collectors Universe Inc. (NASDAQ: CLCT) is the owner and operator of PSA grading for cards and other memorabilia grading and authentication.  At $15.28, its 52-week range is $11.01 to $17.03 and shares are close to the highest levels of the summer.  What PSA’s owner has going for it that others do not is a dividend yield of between 8% and 9% as of today.

Under Armour, Inc. (NYSE: UA) was bashed over the weekend as being overvalued and trading at multiples that are twice that of rivals, according to Barron’s.  At $79.29, its 52-week range is $32.11 to $80.00 and this is effectively close to all-time highs.  Non-professional athletes are likely to keep buying sportswear even if there is not a pro-season in the NBA and NFL, but this one was singled out in Barron’s this weekend and is one we believe may have more at risk compared to other growth apparel stocks.

Buffalo Wild Wings Inc. (NASDAQ: BWLD) has already gone through a period of some downs.  Still, at $67.00 it is near all-time highs and the official 52-week range is $35.01 to $67.30.  Analysts have not exactly gone out and rushed to cut earnings estimates for the September quarter as of yet because we do not have the June-quarter results nor do we have formal guidance for both leagues being in the dark.

What needs to be considered is simple.  Long-term, sports leagues do not stay on the sidelines endlessly.  Even major wars have not ended play for too long.  It seems unlikely that the leagues and the players will allow a full season to be interrupted, even if the seasons are much shorter and without pre-seasons.

The good news is for price-sensitive consumers looking for deals.  You will likely have less wait times for seating and deliveries, and you can probably expect better promotions by the companies.

JON C. OGG

CoreBrand reviewed the top 100 hardest working brands for the final quarter of 2009.  Their researchers point out that “the food industry moves to the top of the list, reflecting the economy and the general improvement of consumer staples businesses. Hershey’s (HSY), Campbell Soup (CPB), and Kellogg (K) make it into the top 5.” On the other hand “troubled industries like financial services and auto manufacturers have seen dramatic decline.”

Harley-Davidson (HOG) is in the top 10 among the hardest working brands. Before rumors of a buy-out, the motorcycle firm’s stock languished at $25, down from $42 less than two years ago. Harley’s stock trades for a low 1.2 times sales. Also near the top of the list is crippled book retailer Barnes & Noble (BKS), which trades for .3 times sales. Blockbuster (BBI) is in the top 25, with a ratio of .1x sales. The firm said in its 10-K that it is at risk for filing Chapter 11.

Douglas A. McIntyre  douglasamcintyre@247wallst.com

We tallied up the likes of Yum! Brands, Inc., (NYSE:YUM), Starbucks Corp. (NASDAQ: SBUX), Darden Restaurants, Inc., (NYSE: DRI), Chipotle Mexican Grill, Inc. (NYSE: CMG), Tim Horton’s Inc. (NYSE: THI), Wendy’s/Arby’s Group, Inc. (NYSE: WEN), Burger King Holdings Inc. (NYSE: BKC), Panera Bread Co. (NASDAQ: PNRA), Brinker International Inc. (NASDAQ: EAT), Jack in the Box Inc. (NASDAQ: JACK), Buffalo Wild Wings Inc. (NASDAQ: BWLD), Papa John’s International Inc. (NASDAQ: PZZA), Sonic Corp. (NASDAQ: SONC), and Domino’s Pizza (NYSE: DPZ).

And there are more than twice as many public restaurant and dining companies not reviewed for the restaurant chain tally and more which we showed in the chart of the restaurant and dining stocks.  As far as the restaurant counts?  That is not even close either.  The above named restaurant chains have a combined tally of about 110,000 stores versus the 32,000+ from McDonald’s.  Not even close, at least when you consider the nominal figure.  This is one of those extraordinary moments in time where there almost exists the world’s greatest investment conundrum…. A value trap against its universe of peers, yet a value trap that still manages to represent growth a reasonable price and is still attractive to many investors.  This also may end up setting one of the world’s greatest and most difficult pairs trades ever.

McDonald’s is the leading global food service retailer.  It has more than 32,000 local restaurants and has stores in more than 100 countries. The company has a company-owned model and a franchise model, but about 80% of McDonald’s restaurants worldwide are owned and operated by franchisees.  2010 revenue estimates are $23.8 billion and 2011 revenue estimates are $24.6 billion; earning estimates are $4.43 EPS and $4.82 EPS for the same respective periods.  The golden arches also has one of the more impressive dividend payouts with a yield of about 3.4% now and it has ample dividend coverage to continue hiking its payouts.

Yum! Brands, Inc., (NYSE:YUM), based in Louisville, Kentucky, is actually the world’s largest restaurant company in terms of system restaurants, with more than 36,000 restaurants in over 110 countries and territories. Its value is a far distant #2 in market cap at almost $16 billion.  Revenues were in excess of $11 billion in 2008. Four of the Company’s restaurant brands are KFC, Pizza Hut, Taco Bell and Long John Silver’s.  The revenue estimates for 2010 are about $11.1 billion and for 2011 are about $11.46 billion.  Its dividend payout is close to 2.5% and it too has room for dividend growth ahead on its coverage.

Starbucks (NASDAQ: SBUX) was one of the greatest growth stories as well, up until recent years when growth turned into maturity and then into value.  The coffee giant operates in all 50 states and D.C. and lists 7,087 company-operated stores and 4,081 licensed stores.  It also operates in 43 countries outside the United States and there it counts company-operated stores as 1,796 stores throughout Australia, Canada, Chile, China (Northern China, Southern China), Germany, Ireland, Puerto Rico, Singapore, Thailand and the United Kingdom.  On an international basis it lists its joint venture and licensed stores as 2,792 stores.  We tally the Starbucks universe as roughly 16,000 per the company’s figure when you tally up the JV and licensed stores with its company-owned stores.  Starbucks has not yet paid a dividend.

Darden Restaurants, Inc., (NYSE: DRI) headquartered in Orlando, Florida, is the world’s largest company-owned and operated full-service restaurant company with over $7.2 billion in annual sales and about 180,000 employees.   Its restaurant brands — Red Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille, Bahama Breeze and Seasons 52 — have more than 1,700 locations combined.  2010 estimates sales are $7.1 billion and almost $7.5 billion expected in 2011.

Chipotle Mexican Grill (NYSE: CMG), or what we used to call McMex because it used to be owned by McDonald’s before it was spun off, has 830 restaurants and is still growing.  It opened 121 new restaurants in 2009 and sees 120-130 new restaurant openings in 2010.  Chipotle is expected to post $1.7 billion in 2010 revenues with estimates of over $1.9 billion in 2011.  As it is in growth mode, it has also not paid a dividend.

Tim Horton’s (NYSE: THI) is the fourth largest publicly traded quick service restaurant chain in North America based on market capitalization, and the largest in Canada. Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes premium coffee and donuts, flavored cappuccinos, specialty teas, home-style soups, fresh sandwiches, wraps and fresh-baked goods. As of late 2009, Tim Hortons had 3,527 system wide restaurants, including 2,971 in Canada and 556 in the United States.  Its 2010 sales expectations are $2.25 billion.

Wendy’s/Arby’s Group, Inc. (NYSE: WEN) is the nation’s third largest quick service restaurant company and is comprised of the Wendy’s and Arby’s brands with about $12 billion in system-wide sales per the company figure.  A trailing 4-quarter period is closer to $4 billion.  It also listed that its owns or franchises over 10,000 restaurants.  The dividend here was low at 1.2%.

Burger King Holdings Inc. (NYSE: BKC) operates more than 12,000 restaurants in all 50 states and in 73 countries and U.S. territories worldwide. The company noted that about 90% of BURGER KING® restaurants are owned and operated by independent franchisees, many of them family owned operations that have been in business for decades.  Growth has been harder to come by and its public company history has been mixed due to a private equity ownership before its IPO.  Expected sales for 2010 are about $2.55 billion vs. $2.66 billion for 2011, and its dividend yield is approximately 1.4%.

Panera Bread Company (NASDAQ: PNRA) owns and franchises 1,380 cafes as of December 29, 2009 under the Panera Bread, Saint Louis Bread Co., and Paradise Bakery & Café stores.  The company is targeting about 80 to 90 new unit openings in fiscal 2010. Average weekly sales for new Company-owned units is targeted to be between $36,000 to $38,000 in fiscal 2010.  Sales are expected to be about $1.5 billion in 2010 and $1.65 billion in 2011.

Brinker International (NYSE: EAT) listed that it either owned, operated, or franchised 1,712 restaurants under the names Chili’s Grill & Bar (1,504 restaurants), On The Border Mexican Grill & Cantina (163 restaurants) and Maggiano’s Little Italy (45 restaurants). Brinker also holds a minority investment in Romano’s Macaroni Grill(R).  Its revenue growth has also matured and sales for both 2010 and 2011 are expected to be close to $3.2 billion.  Its dividend payout is close to 2.4%.

Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, is a restaurant company that operates and franchises Jack in the Box® restaurants with more than 2,200 restaurants in 18 states. Additionally, through a wholly owned subsidiary, the company operates and franchises Qdoba Mexican Grill®, a leader in fast-casual dining, with more than 500 restaurants in 42 states and the District of Columbia.

The Cheesecake Factory (NASDAQ: CAKE) operates 161 full-service, casual dining restaurants throughout the U.S., including 147 restaurants under The Cheesecake Factory(R) mark; 13 restaurants under the Grand Lux Cafe(R) mark; and one restaurant under the RockSugar Pan Asian Kitchen(R) mark.

Bob Evans Farms, Inc. (NASDAQ: BOBE) owns and operates full-service restaurants under the Bob Evans and Mimi’s Café brand names. At the end of the third fiscal quarter (Jan. 22, 2010), Bob Evans owned and operated 569 family restaurants in 18 states, primarily in the Midwest, mid-Atlantic and Southeast regions of the United States, while Mimi’s Café owned and operated 146 casual restaurants located in 24 states, primarily in California and other western states. Bob Evans Farms, Inc. is also a leading producer and distributor of pork sausage and a variety of complementary homestyle convenience food items under the Bob Evans and Owens brand names.

Papa John’s International Inc. (NASDAQ: PZZA), based in Louisville, Kentucky, Papa John’s International, Inc. (NASDAQ: PZZA) is the world’s third largest pizza company. Papa John’s operates and franchises more than 3,000 delivery and carry out pizza restaurants worldwide.  Sales estimates are $1.1 billion in 2010 and $1.14 billion for 2011.  The company said that projected 2010 worldwide net new unit openings of 140 to 180 (40 to 60 net openings for domestic and 100 to 120 net openings for international).

P.F. Chang’s (NASDAQ: PFCB) is comprised of about 363 locations, with its brands broken down as 197 PFChang’s stores and 166 Pei Wei Asian Diner brand stores.  The company recently initiated a dividend and said it would begin targeting 40% of its income for payouts.  Sales expectations are about $1.23 billion in 2010 and $1.3 billion in 2011.

Texas Roadhouse (NASDAQ: TXRH) is a casual dining concept that first opened in 1993 and today operates more than 196 restaurants in 36 states. Sales expectations for 2010 are about $981 million and then about $1.07 billion in 2011.

Buffalo Wild Wings (NASDAQ: BWLD) is the operator and franchisor of restaurants with over 575 restaurants in 40 states. Its menu competitively priced between the fast casual and casual dining segments. Over the next several years it intends to open many company-owned and franchised restaurants in new and existing markets.  Sales for 2010 are expected to be about $631 million and for 2011 about $755 million.

Sonic Corp. (NASDAQ: SONC) has more than 3,500 drive-ins from coast to coast and is the nation’s largest chain of drive-in restaurants.  Sales are expected to be $581 million in 2010 and $598 million in 2011.

CEC Entertainment. Inc. (NYSE: CEC), parent of Chuck E. Cheese, was originally incorporated under the name Showbiz Pizza Place.  Presumably the company meant to say 2010 as this was a FEB-2010 press release but it listed 2007 and most recently said it consisted of 484  company-owned and operated Chuck E. Cheese’s restaurants and 45 franchise restaurants. The company operates in 48 states and 5 countries. 2010 sales are expected to be almost $820 million in 2010 and $847 million in 2011.

CKE Restaurants, Inc. (NYSE: CKR) is now about to be acquired in the first private equity deal in some time for a large food chain.  It franchises, licenses, and operates quick-service and fast-casual dining stores under the Carl’s Jr., Hardee’s, Green Burrito and Red Burrito restaurant brands. The CKE system includes more than 3,000 locations in 43 states and in 13 countries.

Domino’s Pizza (NYSE: DPZ) is perhaps the most recognized name in pizza delivery with a locally owned and operated franchised system.  The company lists that its operates a network of 8,886 franchised and company-owned stores in the United States and 60 international markets. Sales are expected to be $1.4 billion or so in 2010.

DineEquity, Inc. (NYSE: DIN) is a hard chain to cover now as it successfully completed the acquisition of Applebee’s International, Inc. for $25.50 per share in cash, representing a total transaction value of approximately $2.1 billion, in 2007. With more than 3,300 restaurants, it is the combination of Applebee’s and IHOP.  It also listed that the IHOP system is 99% franchised.  That is part of the market discrepancy here for the old deal size versus the market cap today of only $500+ million.  2010 sales expectations are about $1.35 billion.

There is of course much more than the ones covered above.  The idea is not to just throw up some names and stats.  We want to show how broad the non-McDonald’s universe is and at least throw up some common representations.  If we tally up all of these store counts listed above and do not even list the other chains not yet covered, then the universe is roughly 110,000 other restaurant stores.  If you started to count companies which have gone private the universe is far larger.

Applebee’s used to be much larger in market cap compared to its new model before it was bought.  Lone Star Steakhouse & Saloon, Inc. went private in a total value of the transaction of over $600 million.  Hooters of America, Inc. is the Atlanta-based operator and franchiser of over 450 Hooters locations in 43 states. The privately held corporation owns 122 units.  Dunkin Donuts is also privately owned.  When you consider the income that many established chains kick off, it seems that the private equity bonanza and that the management buyout model may always be interested in these plays.  CKE just got a bid last week (its new price not updated) and Landry’s has been in a go-private deal twice.

All this begs a question… What tricks does McDonald’s have up its sleeve?  For starters, you already saw Chipotle get started and then spun-out of McDonald’s.  Are there any laws against McDonald’s trying out new concept restaurants?  No.  Even in a very strict antitrust universe it is only an issue of ‘big market cap’ that McDonald’s rules America’s belly stocks.  There are many popular theme chains McDonald’s could try to embark on.  What about McChang’s?  What about McPizza?  Do I dare say McFish or McSushi? or McTapas?  Or what about McDog’s?  What about McChick?  You get the idea.  The food chain is in theory not immune to McDonald’s as a threat against almost any niche.

McDonald’s has what looked to be the most solid dividend of all its peers and has room to grow its dividend.  The company is recession-proof, more or less.  It is also a defensive stock and still offers growth.  The company has withstood the tests of time.  It just gets hard to not notice the price that the market is putting on its stock versus the rest of the restaurant universe.

We have included a basic chart here showing the comparable values of McDonald’s versus peers.  We have listed prices as of last week with a market cap, the percentage change from 52-week lows, the 52-week trading range of the stock, a trailing P/E ratio, a forward P/E ratio for 2010, a Price/Sales figure and a Price to book value ratio.

Stay tuned. We plan to update this as an ongoing feature ahead.

JON C. OGG

24/7 Wall St. asked Corebrand, the brand research and consulting firm, to look at the top 100 brands based their contribution to market capitalizaton. Using this method, the hardest working brand was Hershey (NYSE:HSY), followed  by Coca-Cola (NYSE:KO) and Harley-Davidson (NYSE:HOG)

Corebrand described the process briefly to 24/7 Wall. St.

24/7 Wall St.: Corebard often refers to the brands on this list as the”hardest working brands”. How did you come to that description?

Corebrand: There are a lot of people measuring and examining the “strongest brands” or the “most valuable brands”.  Our opinion is that examining one without the other is somewhat meaningless.  How “strong” a brand is nice to know but not very relevant unless you understand how that strength benefits business.  Similarly, “value” is little more than a measure of corporate size unless you understand the drivers of that value and how to influence it. By examining the strength of the brand and it’s contribution to total market value, we can help companies and their leadership manage that strength and value over time.

24/7 Wall St.: Is there any advantage or disadvantage to having a brand value be a very large percentage of market cap in the present and as an indication of a company’s future performance?

Corebrand: The brand will need to be in balance with the rest of the company’s assets.  A company should strive to have it’s brand strong enough to fend off competitors or changing market conditions but not so strong that it becomes overly dependent on the brand as a single driver of value.  If a company can achieve and maintain its appropriate maximum strength without becoming over-dependent, it will see greater returns in bull markets and retain greater value in bear markets.

The list:

Each year, on a rolling basis, CoreBrand conducts 8,000 telephone interviews among business leaders to measure their perceptions of some of the world’s best corporate brands. Respondents are business decision-makers from the top 20% of U.S. businesses.

This senior business audience (VP level and above) represents the investment community, potential business partners, and business customers across 49 key industries. 400 respondents rate each company per year; 800 companies are measured each year. Our reports are updated on a quarterly basis to reflect any subtle changes.

CoreBrand collects financial performance data and communications investment information to understand the support behind and impact of these brands. These corporate brand strength ratings, as well as a company’s financial data are used in CoreBrand’s statistical model to determine the percentage of market capitalization that is directly derived from the corporate brand. Once that percentage is calculated, a dollar value is assigned to the corporate brand.

The percentage of market capitalization, attributable to the corporate brand. The percentage is then translated into a dollar value, based on the current market capitalization. The analysis is examined over time, to determine if the corporate brand is a growing or declining asset.

Douglas A. McIntyre

• Cramer’s first face-off was in the pizza group of food and restaurants between Papa John’s International (NASDAQ:PZZA) and Dominos Pizza Inc. (NYSE:DPZ). 
• Secondly, Cramer compared CVS Caremark (NYSE:CVS) to Walgreen’s (NYSE:WAG).

In the pizza face-off, Cramer noted how Papa Johns (NASDAQ:PZZA) was confident on the conference call, how they were positive about the environment despite rising food and energy prices and more, while Dominos (NYSE: DPZ) was apathetic and not positive.  He also noted how this will bring about a company that deserves a higher multiple.  Papa John’s fell 2% to $22.64 today but rose almost 1% to $22.80 on his call (52-week trading range $21.76 to $34.86.  Dominos fell 1.5% today to $12.75 and fell another 0.5% to $12.69 in after-hours trading (52-week trading range $12.25 to $35.67 per-dividend).  We noted in the past how Dominos had looted its books to make that one-time shareholder pay-off.

In the second execution comparison for competitors, Cramer noted how Walgreens (NYSE:WAG) used to be the GO-TO stock in the group but has fallen off track.  CVS Caremark (NYSE:CVS) has started executing better and changed its weakness with the Caremark cost containment company to win as patents go from label to generic in the coming years.  Walgreens is a good pharmacy according to Cramer, but CVS now is winning because of execution and now has an extra edge.  CVS is also adding stores more strategically and more thought out.  In the past Cramer noted this as a MAJOR BULL MARKET PICK.

CVS shares closed up almost 1% today at $39.49 and rose another 0.5% to $39.68 after-hours (52-week range $29.44 to $42.60).  Walgreens hasn’t traded in after-hours to speak of and closed down 2.3% today at $36.38 (52-week trading range $35.80 to $49.10).

For those of you always looking for "CRAMER PICKS TO MOVE" you’ll want to count tonight as  "more educational rather than bold stock picking."

Jon C. Ogg
December 19, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the SPECIAL SITUATION newsletter and he does not own securities in the companies he covers.

• Red Robin Gourmet (RRGB)         3.304M  -1.13%
• Papa John’s (PZZA)                         2.245M   -2.91%
• McCormick & Schmick’s (MSSR)  1.497M   -6.22%
• Buffalo Wild Wings (BWLD)           3.293M    -6.4%
• Starbucks (SBUX)                          25.725M   -6.98%
• Cheesecake factory (CAKE)         11.636M   -7.55%
• Texas Roadhouse (TXRH)                7.066M    -7.93%
• CBRL Group (CBRL)                       4.727M  -14.92%
• P.F.Chang’s (PFCB)                         7.051M  +2.54%
• Panera Bread (PNRA)                      4.688M  +7.91%

Here are some key related articles that may give added insight:

• NYSE & AMEX Short Interest Decline
• Starbucks’ Founder Defends Company
• How Out of Favor Is P.F. Chang’s With Diners & Investors?  
• Cheesecake’s possible self-fix

Jon C. Ogg
September 26, 2007

Stock Tickers: MDRX, CSCO, CCRT, ERTS, LMIA, PAL, PZZA, FACE, SIRI, SONS, TRLG, DIS

Allscripst Healthcare Solutions (MDRX) is trading down over 6% to$25.25 after eraffirming targets after earnings.  Its shares are stillup 70% in 18 months, so reaffirming may not be enough.

Cisco Systems (CSCO) trading down 5.5% to $26.75 after estimates and guidance failed on a "wow-factor" like in prior quarters.

CompuCredit (CCRT) is getting shelled 8% in after-hours to $35.00after posting a loss in the quarter.  It still sees $4.00 or higher EPSfor 2007, but you have to trust them, and their customers are the"undesireables" compared to most financial institutions.

Electronic Arts (ERTS) trading down close to 3% at $51.50 after nextquarter guidance is not up to snuff.  The full year for fiscalMarch-2008 looks ahead, but you have to trust they will deliver in thesame two quarters that Halo 3 and Grand Theft Auto releases will becoming.

LMI Aerospace (LMIA) fell 9% on thin volume after posting lower earnings.

North American Palladium (PAL) rose 9% to $11.11 after Cramer toutedit as a stealthy way to speculate on a nickel play with 22% of itsrevenues coming from nickel.

Papa John’s International (PZZA) traded up 2.2% to $32.50 inafter-hours. Earnings wer elower than last year but guidance had beenbrought in enough that they were able to raise their outlook.

Physicians Formula (FACE) fell nearly 10% after beating guidance but guiding lower for the coming quarter.

Sirius Satellite Radio (SIRI) traded up 1.7% after Cramer noted itin the lightning round as a positive if the governemnt will approve themerger.

Sonus Networks (SONS) traded up 5.7% in normal trading and went upanother 2% in after-hours to $7.95.  Revenues looked a bit light, sothis one is worth a look.

True Religion Apparel (TRLG) traded up almost 4% to $16.27 afterclosing up 3.5% in normal trading.  The company did reiterate 20% salesgrowth for 2007 and put EPS at $1.24 to $1.27 for 2007.

Walt Disney (DIS) fell 2% after meeting expectations, but that’safter trading up almost 1.4% in regular trading.  Shares were close torecent highs.

Jon C. Ogg
May 9, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in any of the companies he covers.

Allscripst Healthcare Solutions (MDRX) is trading down over 6% to $25.25 after eraffirming targets after earnings.  Its shares are still up 70% in 18 months, so reaffirming may not be enough.

Cisco Systems (CSCO) trading down 5.5% to $26.75 after estimates and guidance failed on a "wow-factor" like in prior quarters.

CompuCredit (CCRT) is getting shelled 8% in after-hours to $35.00 after posting a loss in the quarter.  It still sees $4.00 or higher EPS for 2007, but you have to trust them, and their customers are the "undesireables" compared to most financial institutions.

Electronic Arts (ERTS) trading down close to 3% at $51.50 after next quarter guidance is not up to snuff.  The full year for fiscal March-2008 looks ahead, but you have to trust they will deliver in the same two quarters that Halo 3 and Grand Theft Auto releases will be coming.

LMI Aerospace (LMIA) fell 9% on thin volume after posting lower earnings.

North American Palladium (PAL) rose 9% to $11.11 after Cramer touted it as a stealthy way to speculate on a nickel play with 22% of its revenues coming from nickel.

Papa John’s International (PZZA) traded up 2.2% to $32.50 in after-hours. Earnings wer elower than last year but guidance had been brought in enough that they were able to raise their outlook.

Physicians Formula (FACE) fell nearly 10% after beating guidance but guiding lower for the coming quarter.

Sirius Satellite Radio (SIRI) traded up 1.7% after Cramer noted it in the lightning round as a positive if the governemnt will approve the merger.

Sonus Networks (SONS) traded up 5.7% in normal trading and went up another 2% in after-hours to $7.95.  Revenues looked a bit light, so this one is worth a look.

True Religion Apparel (TRLG) traded up almost 4% to $16.27 after closing up 3.5% in normal trading.  The company did reiterate 20% sales growth for 2007 and put EPS at $1.24 to $1.27 for 2007.

Walt Disney (DIS) fell 2% after meeting expectations, but that’s after trading up almost 1.4% in regular trading.  Shares were close to recent highs.

Jon C. Ogg
May 8, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in any of the companies he covers.