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Tracking Dividends in Biotech: Who Follows Amgen in Payouts? (AMGN, PFE, MRK, BIIB, CELG, ALXN, CBST, PDLI, REGN, VRTX)

Administrator — Wed, 04 Jan 2012 13:01:10 +0000

For several years it has been the case that Amgen Inc. (NASDAQ: AMGN) was considered a biotech though it had at least some of the same problems of Big Pharma players like Pfizer Inc. (NYSE: PFE) and Merck & Co. (NYSE: MRK). The difference is that Amgen refused for ages to pay a dividend. 2011 marked a change in its dividend policy.

Amgen’s current dividend is 2.3%, which is rather high for a biotech stock. It also should be noted that the $64.00 price is above the stock’s old former rangebound levels of $50.00 to $60.00. Pfizer currently yields 3.7%, but that is about to rise to closer to 4%, and Merck yields about 4.50% after its dividend hike.

The question for 2012 is simple: Which biotech stocks will be among the second waves to initiate paying a dividend? By our count, these are the biotech outfits that might entertain following Amgen’s dividend path: Biogen Idec Inc. (NASDAQ: BIIB), Celgene Corporation (NASDAQ: CELG), Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN), Cubist Pharmaceuticals Inc. (NASDAQ: CBST), PDL BioPharma, Inc. (NASDAQ: PDLI), Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN), and Vertex Pharmaceuticals Inc. (NASDAQ: VRTX).

We would have evaluated the chances of Gilead Sciences Inc. (NASDAQ: GILD) initiating a dividend, but this $11 billion proposed buyout of Pharmasset, Inc. (NASDAQ: VRUS) is likely to keep Gilead tied up for quite some time.

Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) is close to all-time highs above $70 and is now worth a whopping $13.2 billion. Estimates are $1.30 EPS for 2011 and $1.66 EPS for 2012, making this one have a much higher valuation while it is still rapidly growing. Some investors may expect that it could start paying out a dividend, but it is too soon by our take today, even with a $445 million balance of cash and liquidity with almost no long-term debt.

Biogen Idec Inc. (NASDAQ: BIIB) has estimates of $5.89 EPS in 2011 and $6.31 EPS in 2012. The company had only about $3 billion in cash and investments at the end of September versus a current market cap of about $27 billion. 2011 was the year that investors decided to give up on worrying about the very rare PML cases in TYSABRI, and that allowed Biogen shares to rise almost 60% in 2011. If Biogen decides to get off the no-dividend bandwagon soon, we would only look for an initial payout of $1.00 on an annualized basis for a while.

Celgene Corporation (NASDAQ: CELG) may still be too new of an earnings story to start expecting a dividend. The earnings estimates are $3.80 EPS in 2011 and $4.51 EPS in 2012. With almost $2.6 billion in cash and investments, its market cap is larger than Biogen’s at $30 billion.

Cubist Pharmaceuticals Inc. (NASDAQ: CBST) managed an incredible breakout year as its drugs treat hospital-borne infections, with nearly a 100% share price gain in 2011. The market cap is now about $2.45 billion, and it had nearly $1 billion in cash and liquidity before a recent $221 million acquisition versus about $450 million in long-term debt. Cubist probably could start to pay a dividend if it wants to, but the company has decided to be an acquirer rather than hoarding cash or going defensive. Chances are that it may need to hold on to its cash while it absorbs Adolor and anything else it is considering.

PDL BioPharma, Inc. (NASDAQ: PDLI) has been a dividend payer from its patent royalties, but some payments have been one-time payments until its most recent $0.15 payout for each of the past four quarters. The company also recently forecast a 5% revenue drop and investors are already braced for lower royalty payments. The company recently lost its CFO after only about three years on the job and we really do not like to see CFOs leave biohealth companies. Estimates are $1.18 EPS for 2011 and $1.38 EPS in 2012, but it has about $225 million in cash and liquidity versus a market cap of $867 million. The company may just stick with its current payout structure’s high yield as is until (or if) it can secure another large patent license.

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) is worth some $5.1 billion or so in market capitalization and is fresh off the news that it settled with Genentech over U.S. opthalmic sales of the eye drug EYLEA with a patent case still brewing, but with Regeneron agreeing to pay out $60 million if sales reach $400 million and it will pay royalties out as well. With cash and liquidity of near $500 million at then end of September we think it is a bit premature to ask this one to start shelling out its cash to shareholders yet, considering it is still expected to have a wide loss in 2012.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) is so far off of highs now that it seems unlikely investors are expecting much on the dividend front. The company is back on the path of growth after some changes and stumbles, and now its market cap is almost $7 billion. With this one it just feels too soon to expect any dividends in reality. We could analyze all we want, but its new revenue growth is challenged by a cash balance of just over $800 million versus $400 million in long-term debt. What is interesting is that Vertex’s $0.30 EPS expected for 2011 is expected to be $4.55 EPS in 2012. It had a loss of $3.77 EPS in 2010. Maybe after another year or so we can evaluate its future dividend strategy.

After reviewing the great biotech sector’s larger components, it sure does not sound like many other than Biogen Idec Inc. (NASDAQ: BIIB) are really new prime-time dividend candidates for 2012, other than the high payout of PDL BioPharma, Inc. (NASDAQ: PDLI).

JON C. OGG

Filed under: Biotech, Dividend, Drug companies, Healthcare, Shareholder Issues Tagged: ALXN, AMGN, BIIB, CBST, CELG, MRK, PDLI, PFE, REGN, VRTX, VRUS

24/7 Wall St. Closing Bell (AAPL, DV, MS, QCOM, TGT, WDC, HAST, TECD, TSN, HPQ, TSL, CSIQ, JKS, JASO, LDK, STP, LNKD, VRUS, GILD, FMCN, GEDU, REGN, Z)

Paul Ausick — Mon, 21 Nov 2011 21:08:28 +0000

Stock prices plunged this morning and spent most of the day trading way down. The DJIA hovered around -300 points for most of the day, while the NASDAQ was off around -50 points and the S&P 500 wobbled around -30 points for most of the day. Today’s report on existing home sales was better than expected, but that was not enough to encourage investors to buy. Continuing concern over the state of Europe and a nearly unanimous belief that the US Congress’s super committee would fail to reach an agreement far outweighed any good news in the first half of the day. In mid-afternoon, Atlanta Federal Reserve president William Lockhart said that he did not foresee a second US recession, and put the likelihood of another recession at 30%. That gave the markets a bit of a bounce late in the day. Gold is down nearly -3%, at $1,674.40 and oil is down slightly to just under $97/barrel.

The unofficial closing bells put the DJIA down about 248 points to 11,547.23 (-2.11%), the NASDAQ fell more than 49 points (-1.92%) to 2,523.14, and the S&P 500 fell -1.86% or more than 22 points to 1,192.99.

There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) reiterated as ‘buy’ with a $500 price target at Credit Suisse. Other ratings actions included DeVry, Inc. (NYSE: DV) cut to ‘underperform’ and ‘Bear of the Day’ at Zack’s; Morgan Stanley (NYSE: MS) raised to ‘buy’ at Argus; Qualcomm Inc. (NASDAQ: QCOM) reiterated as ‘buy’ with a $72 price target at Argus; Target Corp. (NYSE: TGT) cut to ‘neutral’ at JPMorgan; and Western Digital Corp. (NYSE: WDC) raised to ‘overweight’ at Barclays.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Hastings Entertainment Inc. (NASDAQ: HAST) was down more than -13%, at $1.65, after posting a new 52-week low of $1.55; Tech Data Corp. (NASDAQ: TECD) was down -0.9%, at $47.47, and Tyson Foods Inc. (NYSE: TSN) was up about 0.3% at $19.51. We took a closer look at Tech Data’s earnings earlier today.

After markets close today and before they re-open for tomorrow, there will be an avalanche of earnings reports. Perhaps the most closely watched will be Hewlett-Packard Co. (NYSE: HPQ) and a half dozen Chinese solar PV makers: JinkoSolar Holding Solar Co. Ltd. (NYSE: JKS), Trina Solar Ltd. (NYSE: TSL), Canadian Solar Inc. (NASDAQ: CSIQ), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), LDK Solar Co. Ltd. (NYSE: LDK), and Suntech Power Holdings Co. Ltd. (NYSE: STP). Shares in all these solar makers are down today, as investors anticipate the bad news that’s coming.

Several other standouts from today are as follows…

LinkedIn Corp. (NASDAQ: LNKD) is down more than -4%, at $68.95. The company’s 180-day lock-up period ended today, adding another 24 million shares of the company available for sale. LinkedIn tied up another 56 million shares for an additional 90 days or the damage could have been worse.

Pharmasset, Inc. (NASDAQ: VRUS) is up nearly 85%, at $134.03, after hitting a new 52-week high of $135. The company has agreed to be acquired by Gilead Sciences Inc. (NASDAQ: GILD) for $11 billion.

Gilead Sciences, Inc. (NASDAQ: GILD) is down nearly -9.7%, at $36.02, after posting a new 52-week low of $34.45. Investors tend to believe that Gilead is paying too much for Pharmasset.

Focus Media Holding Ltd. (NASDAQ: FMCN) is down nearly -39%, at $15.56. The Chinese advertising company is the target of a report by short-selling firm Muddy Waters alleging that Focus Media has signififcantly overstated the number of screens in its LCD network.

Global Education and Technology Group Ltd. (NASDAQ: GEDU) is up more than 97%, at $10.60, after posting a new 52-week high of $10.70. The company is being acquired by Pearson plc, owner of the Financial Times newspaper and other media properties.

Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) is up more than 10%, at $55.02. The company received USDA approval for its eye drug Eylea.

Zillow, Inc. (NYSE: Z) is down more than -13%, at $23.52, after posting a new 52-week low of $22.55. There is no specific news about the company, but, like LinkedIn, a pile of shares will be available on the market when the company’s lock-up period ends in about another two months.

Stay tuned for Tuesday. In addition to the earnings reports we’ve mentioned, here’s a list of other noteworthy events (all times Eastern):

7:45 a.m. – International Council of Shopping Centers-Goldman Sachs retail sales report
8:30 a.m. – US third-quarter GDP report revisions
8:30 a.m. – BEA corporate profits report
2:00 p.m. – Federal Open Market Committee minutes released

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AAPL, CSIQ, DV, FMCN, GEDU, GILD, HAST, HPQ, JASO, JKS, LDK, LNKD, MS, QCOM, REGN, STP, TECD, TGT, TSL, TSN, VRUS, WDC, Z

Top Analyst Upgrades & Downgrades (CRL, CSCO, GLW, EXPE, PPDI, RL, PCLN, REGN, RIMM, RPM, BID, TSO, TIVO, URI)

Administrator — Fri, 09 Sep 2011 12:06:01 +0000

These are some of this Friday’s top analyst upgrades, downgrades, and initiations seen having an impact from Wall Street research calls.

Charles River Laboratories International, Inc. (NYSE: CRL) Started as Hold at Citigroup.
Cisco Systems, Inc. (NASDAQ: CSCO) Raised to Sector Perform at RBC.
Corning Inc. (NYSE: GLW) Maintained Buy but cut target to $25 at BofA/ML.
Expedia Inc. (NASDAQ: EXPE) Started as Outperform at Wedbush.
Pharmaceutical Product Development Inc. (NASDAQ: PPDI) Started as Hold at Citigroup.
Polo Ralph Lauren (NYSE: RL) named Bull of the Day at Zacks.
Priceline.com Incorporated (NASDAQ: PCLN) Started as Outperform at Wedbush.
Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) Cut to Underperform at BofA/ML.
Research In Motion Limited (NASDAQ: RIMM) Cut to Underperform at Jefferies.
RPM International (NYSE: RPM) Raised to Neutral at Credit Suisse.
Sotheby’s Inc. (NYSE: BID) called the value stock of the day at Zacks.
Tesoro Corporation (NYSE: TSO) Cut to Sell at Goldman Sachs.
TiVo Inc. (NASDAQ: TIVO) Started as Buy at Brean Murray.
United Rentals, Inc. (NYSE: URI) Started as Outperform at Credit Suisse.

JON C. OGG

Filed under: Analyst Calls Tagged: BID, CRL, CSCO, EXPE, GLW, PCLN, PPDI, REGN, RIMM, RL, RPM, TIVO, TSO, URI

Top Analyst Upgrades & Downgrades (BGFV, BIIB, ETN, HIG, HGSI, P, REGN, RIMM, RUE, SQNM, VMW, INT)

Administrator — Fri, 26 Aug 2011 12:18:17 +0000

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

Big 5 Sporting Goods (NASDAQ: BGFV) named Bear of the Day at Zacks.
Biogen Idec Inc. (NASDAQ: BIIB) Reiterated Buy with $115 target at Argus.
Eaton Corporation (NYSE: ETN) named as Bull of the Day at Zacks.
Hartford Financial Services Group Inc. (NYSE: HIG) Reiterated Buy but cut target to $26 at Argus.
Human Genome Sciences Inc. (NASDAQ: HGSI) Maintained Outperform but cut target to $27 at Credit Suisse.
Pandora Media, Inc. (NYSE: P) Reiterated Buy and raised target to $19 at BofA/ML.
Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) Cut to Hold at Citigroup.
Research in Motion Ltd. (NASDAQ: RIMM) Raised to Buy at Stern Agee.
rue21, Inc. (NASDAQ: RUE) Raised to Buy at BofA/ML.
Sequenom Inc. (NASDAQ: SQNM) Started as Outperform at William Blair.
VMware Inc. (NYSE: VMW) Raised to Outperform at Pacific Crest.
World Fuel Services Corporation (NYSE: INT) named Value stock of the day at Zacks.

JON C. OGG

Filed under: Analyst Calls Tagged: BGFV, BIIB, ETN, HGSI, HIG, INT, P, REGN, RIMM, RUE, SQNM, VMW

Top Earlybird Active Trader Alerts (ADI, BCSI, CHS, DELL, EK, FSLR, NYX, PLAB, REGN, SPLS, SRZ)

Administrator — Wed, 17 Aug 2011 12:32:10 +0000

We have many stocks on the move this morning, some on earnings and some on other news. The top movers and shakers featured by 24/7 Wall St. this morning are as follows: Analog Devices, Inc. (NYSE: ADI); Blue Coat Systems Inc. (NASDAQ: BCSI); Chico’s FAS Inc. (NYSE: CHS); Dell Inc. (NASDAQ: DELL); Eastman Kodak Co. (NYSE: EK); First Solar, Inc. (NASDAQ: FSLR); NYSE Euronext, Inc. (NYSE: NYX); Photronics Inc. (NASDAQ: PLAB); Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN); Staples, Inc. (NASDAQ: SPLS); and Sunrise Senior Living, Inc. (NYSE: SRZ).

We have compiled the news summaries and the moves on each.

Analog Devices, Inc. (NYSE: ADI) is lower after reporting a rise in third quarter profits but warning that Q4 will be weak due to global uncertainty. Shares closed at $31.35 and shares are down about 2% at $30.78.

Blue Coat Systems Inc. (NASDAQ: BCSI) is getting crushed after it is forecasting a loss or gain of -$0.04 to $0.04 EPS versus estimates of $0.20 and higher. It has also been downgraded or seen target cuts at many brokerage firms in research calls. Shares are down 24% at $13.30, under the 52-week low of $14.91 and versus a $17.68 close yesterday.

Chico’s FAS Inc. (NYSE: CHS) is up after reporting a 42% rise in earnings and word that it is making an acquisition of a retailer in Florida. Shares are up over 7% at $13.50 in pre-market trading.

Dell Inc. (NASDAQ: DELL) beat on the bottom line but turned in light revenues and guidance was light on sales as well. Shares are down close to 6% at $14.85 or so this morning on active volume.

Eastman Kodak Co. (NYSE: EK) may be worth more in a breakup according to Bloomberg as it discusses $3 billion value for the patents alone. Shares are indicated up more than 10% above $2.50 this morning.

First Solar, Inc. (NASDAQ: FSLR) is down on news that one of its top executives named Jens Meyerhoff is leaving the company after September 30. Shares are down about 3% at $101.75 this morning.

NYSE Euronext, Inc. (NYSE: NYX) is getting a bit of a bounce of 2.3% to $27.15 after a substantial loss on Tuesday after Merkel and Sarkozy proposed a financial transaction tax of some sort. Shares were as high as $28.52 yesterday and closed down at $26.54.

Photronics Inc. (NASDAQ: PLAB), which manufactures photomasks for the chip sector, managed to post earnings gains and shares are responding handily. Shares closed at $5.62 and the pre-market trading is up 9% at $6.13 on thin volume.

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) is down on news that the FDA is extending its review of EYLEA (aflibercept injection) by three months. Shares are down almost 5% at $54.68 in pre-market trading.

Staples, Inc. (NASDAQ: SPLS) is getting a big bounce after the office supplies retailer beat earnings and managed to forecast solid results ahead too. This one has been sold off big from highs and shares are up about 8.5% at $15.43 on active pre-market volume.

Sunrise Senior Living, Inc. (NYSE: SRZ) popped last night and is indicated higher this morning after Jim Cramer on CNBC’s MAD MONEY said that it is a small and under-followed speculative company that could potentially make homegamers a lot of money. Shares closed at $6.84 and the stock is indicated up around $7.25 this morning.

You are invited to join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Pre-Market Activity, Trading Alert Tagged: ADI, BCSI, CHS, DELL, EK, FSLR, NYX, PLAB, REGN, SPLS, SRZ

Top Analyst Upgrades & Downgrades (AIXG, BAC, BCSI, CSC, GOOG, HAIN, HPQ, HD, HSP, MMI, ODP, PAAS, DGX, REGN, SXL)

Administrator — Wed, 17 Aug 2011 12:18:52 +0000

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

Aixtron SE (NASDAQ: AIXG) Cut to Hold at Deutsche Bank.
Bank of America Corporation (NYSE: BAC) Maintained Buy but lowered target to $14 at Credit Suisse.
Blue Coat Systems Inc. (NASDAQ: BCSI) Downgraded at Piper Jaffray, BofA/ML, Sten Agee, and Needham.
Computer Sciences Corporation (NYSE: CSC) Maintained Underperform as Bear of the Day at Zacks.
Google Inc. (NASDAQ: GOOG) Cut to Sell with $500 target at S&P Equity Research (late Tuesday).
The Hain Celestial Group, Inc. (NASDAQ: HAIN) Raised to Outperform at RBC.
Hewlett-Packard Co. (NYSE: HPQ) Cut to Market Perform at BMO.
Home Depot Inc. (NYSE: HD) Reiterated Buy with $44 target at Argus.
Hospira Inc. (NYSE: HSP) Raised to Hold at Citigroup.
Motorola Mobility Holdings, Inc. (NYSE: MMI) Raised to Neutral at JPMorgan.
Office Depot, Inc. (NYSE: ODP) Raised to Neutral at UBS.
Pan American Silver Corp. (NASDAQ: PAAS) Raised to Buy at Canaccord Genuity.
Quest Diagnostics Inc. (NYSE: DGX) Raised to Neutral at Goldman Sachs.
Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) Cut to Neutral at BofA/ML.
Sunoco Logistics, LP (NYSE: SXL) Raised to Outperform as Bull of the Day at Zacks.

JON C. OGG

Filed under: Analyst Calls Tagged: AIXG, BAC, BCSI, CSC, DGX, GOOG, HAIN, HD, HPQ, HSP, MMI, ODP, PAAS, REGN, SXL

Key Stocks To Watch This Coming Week, The Unusual Suspects (ADP, CSX, FVE, GILD, LYV, LULU, RMBS, REGN, RIMM, SIRI, P, SIX, VRX)

Administrator — Sun, 12 Jun 2011 13:40:39 +0000

The upcoming week is not very active on the earnings front but we do have some key events to watch for individual equities and companies. This our cast of “The Unusual Suspects” for the week ahead.

We are reviewing events or ongoing news in shares of Automatic Data Processing Inc. (NYSE: ADP), CSX Corporation (NYSE: CSX), Five Star Quality Care Inc. (NYSE: FVE), Gilead Sciences, Inc. (NASDAQ: GILD), Live Nation Entertainment, Inc. (NYSE: LYV), Lululemon Athletica Inc. (NASDAQ: LULU), Rambus Inc. (NASDAQ: RMBS), Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN), Research-in-Motion Ltd. (NASDAQ: RIMM), SIRIUS XM Radio Inc. (NASDAQ: SIRI), Pandora Media Inc. (NYSE: P), Six Flags Entertainment Corp. (NYSE: SIX), and Valeant Pharmaceuticals International, Inc. (NYSE: VRX).

Inside each preview we have shown what the news or upcoming event is, given price indications, and added color on each if applicable. Also, we had ten top analyst calls of the week that are carry-over events from last week and we also have a full detailed earnings calendar with previews for the top ten companies reporting earnings this coming week in separate articles.

Automatic Data Processing Inc. (NYSE: ADP) announced on Friday evening that its board of directors had raised its share buyback plan with an additional 35 million shares of common stock on top of about 15 million shares remaining under the previous buyback plan. If executed entirely, this would be about 10% of its entire stock’s float.

CSX Corporation (NYSE: CSX) is set to split 3-for-1 on Thursday after it declared that split in early May. This is one of the many pending and current splits, a trend we are seeing more of than we have in years. Shares closed at $73.48 Friday and the 52-week range is $46.51 to $80.42.

Five Star Quality Care Inc. (NYSE: FVE) is expected to have a secondary offering of up to 10 million shares mid-week, with all of the shares expected to be sold by the company. Shares were pounded on the announcement of the deal with a drop from $7.20 before to $6.27 on the day of the news and then to close out the week at $6.10. Its market cap is only about $220 million share its 52-week trading range is $2.72 to $8.95.

Gilead Sciences, Inc. (NASDAQ: GILD) disclosed a subpoena from the Department of Justice on Friday after the close, which included requests for documentation on testing of nearly all its products. The wording also noted “criminal” on top of civil in the subpoena. If Gilead was Lucille Ball, it would have “splaining” to do. Surprisingly, shares were only down a little more than 2% at $39.40 after the close on the news. Its 52-week range is $31.73 to $42.93.

Live Nation Entertainment, Inc. (NYSE: LYV) was up 6% Friday on word that Liberty’s John Malone and Live Nation CEO Irving Azoff were in talks to possibly take Live Nation private. At $10.92, its 52-week trading range is $8.17 to $12.48, but this stock stalled out at $16.00 in April-2010 and has been dead since.

Filed under: Calendar, Editor's Picks, The Week Tagged: ADP,, CSX, FVE, GILD, LULU, LYV, P, REGN, RIMM, RMBS, SIRI, SIX, VRX

Top Analyst Upgrades & Downgrades (AGCO, AAPL, BIDU, BMI, CL, DNDN, DOW, FLEX, INSP, TAP, REGN, RIMM, TSM, VLO, VZ, GWW, SLV, SIVR)

Administrator — Fri, 29 Apr 2011 12:38:29 +0000

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

AGCO Corporation (NASDAQ: AGCO) Maintained Outperform as Bull of the Day at Zacks.
Apple Inc. (NASDAQ: AAPL) Reiterated Buy and Raised target to $415 from $375 at Argus.
Baidu, Inc. (NASDAQ: BIDU) has seen its targets raised at Citigroup, BofA/ML, and Goldman Sachs.
Badger Meter, Inc. (NYSE: BMI) Maintained Underperform as Bear of the Day at Zacks.
Colgate-Palmolive Co. (NYSE: CL) Raised to Buy at Deutsche Bank.
Dendreon Corporation (NASDAQ: DNDN) Started as Buy at ThinkEquity.
The Dow Chemical Company (NYSE: DOW) Raised to Overweight at JPMorgan.
Flextronics International Ltd. (NASDAQ: FLEX) Cut to Hold at Argus.
InfoSpace Inc. (NASDAQ: INSP) Raised to Buy at S&P Equity Research (late-Thursday call).
Molson Coors Brewing Company (NYSE: TAP) Cut to Neutral at JPMorgan.
Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) Cut to Sector Perform at RBC.
Research In Motion Limited (NASDAQ: RIMM) Has been downgraded to Underperform at Jefferies and downgraded by at least two Canadian brokerages on its warning.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) has seen targets raised by Credit Suisse, Deutsche Bank, and Goldman Sachs.
Valero Energy Corp. (NYSE: VLO) Reiterated Buy and raised target to $35 from $32 at Argus.
Verizon Communications Inc. (NYSE: VZ) Cut to Hold at Citigroup.
W.W. Grainger, Inc. (NYSE: GWW) Raised to Neutral at BofA/ML.

This is an update from yesterday but we highlighted a technical analysis call from Bank of America Merrill Lynch that was effectively assigning the possibility of $80.00 silver, which would be yet another huge boom for shares of iShares Silver Trust (NYSE: SLV) and ETFS Physical Silver Shares (NYSE: SIVR).

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: AAPL, AGCO, BIDU, BMI, CL, DNDN, DOW, FLEX, GWW, INSP, REGN, RIMM, SIVR, SLV, TAP, TSM, VLO, VZ

After-Hours Top Earnings & Event Stock Movers (BRCM, BWLD, KEYN, LDK, MIPS, REGN, RFMD, SFSF)

Administrator — Tue, 26 Apr 2011 22:40:55 +0000

We have many after-hours movers after earnings and other reported events. We are tracking moves in Broadcom Corporation (NASDAQ: BRCM), Buffalo Wild Wings, Inc. (NASDAQ: BWLD), Keynote Systems, Inc. (NASDAQ: KEYN), LDK Solar Co., Ltd. (NYSE: LDK), MIPS Technologies, Inc. (NASDAQ: MIPS), Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN), RF Micro Devices, Inc. (NASDAQ: RFMD), and SuccessFactors, Inc. (NASDAQ: SFSF).

Broadcom Corporation (NASDAQ: BRCM) was one we were having mixed emotions in ahead of earnings. In the current quarter, sales were put in a range of $1.75 to $1.85 billion and that was a disappointment. Shares are down over $3.00 or more than 8% at $37.13 on more than 2.2 million shares in the after-hours.

Buffalo Wild Wings, Inc. (NASDAQ: BWLD) beat earnings substantially at $0.81 EPS versus a Thomson Reuters figure of $0.73 EPS. Same-store sales were up and it is opening 100 new locations. For some reason the company did not introduce “The Ring Stinger” as the hottest wing sauce available. Shares are up 4.7% at $63.30 on more than 50,000 after-hours shares.

Keynote Systems, Inc. (NASDAQ: KEYN) blew out earnings at $0.29 EPS versus $0.21 estimates; shares are up 9.9% at $23.35 on more than 32,000 after-hours shares.

LDK Solar Co., Ltd. (NYSE: LDK) lowered guidance after having closed up on the day by more than 3%… The company lowered revenue guidance by about $100 million in the first quarter but reaffirmed its 2011 range. Shares are down 4.55% at $10.90 on more than 2 million shares traded in the after-hours session.

MIPS Technologies, Inc. (NASDAQ: MIPS) is getting drilled after turning in $0.09 EPS versus $0.10 EPS estimates, but lower guidance is the real killer. Shares are down 12% at $9.40 on more than 365,000 after-hours shares.

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) is not an earnings play but it feels like one… The company turned in positive results with Sonfi-Aventis (NYSE: SNY) showing that the Phase III VELOUR trial evaluating ZALTRA in combination with the FOLFIRI chemotherapy regimen versus a regimen of FOLFIRI plus placebo met its primary endpoints of improving overall survival in the second-line treatment of metastatic colorectal cancer. Its shares are up 7.9% at $56.25 on more than 250,000 after-hours shares.

RF Micro Devices, Inc. (NASDAQ: RFMD) had a 23% drop in revenue and now the company sees a “flat to down 5%” revenue figure this quarter. RF chips and components aren’t universal winners, apparently. This one is down about 3.5% at $6.10 on nearly 300,000 after-hours shares.

SuccessFactors, Inc. (NASDAQ: SFSF) won but lost in its cloud-based business execution software solutions… The company SuccessFactors beat earnings estimates, guided Q2 revenues above consensus and it raised 2011 guidance. The company also announced that it was spending $290 million to acquire Plateau Systems for its leading learning management system, a Next Generation Portal technology, and CaaS- Content as a Service. SuccessFactors had a $3.15 billion market cap. The stock is down 8% at $37.05 on more than 230,000 after-hours shares.

Stay tuned, tomorrow has many earnings and we have a wild earnings reaction group already. You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: After-Hours Activity, Trading Alert Tagged: BRCM, BWLD, KEYN, LDK, MIPS, REGN, RFMD, SFSF

Top Day Trader Alerts (BIDU, CIEN, ECLP, PIP, REGN, TLAB, TXN, TIVO, TTIL)

Administrator — Wed, 09 Jun 2010 13:01:33 +0000

There are many big movers today in the day trader and active trader alert categories, some on merger and some on earnings and guidance. Stocks on the move are Baidu, Inc. (NASDAQ: BIDU), CIENA Corporation (NASDAQ: CIEN), Eclipsys Corporation (NASDAQ: ECLP), PharmAthene Inc. (AMEX: PIP), Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN), Tellabs Inc. (NASDAQ: TLAB), Texas Instruments Inc. (NYSE: TXN), TiVo Inc. (NASDAQ: TIVO), and TTI Team Telecom International Ltd. (NASDAQ: TTIL). We have outlined the news as well as the reaction and added in color where appropriate.

Baidu, Inc. (NASDAQ: BIDU) was started as Buy at ThinkEquity with a $94 price target. Shares closed at $70.49 yesterday and shares are up 2% at $71.92 on about 50,000 shares.

CIENA Corporation (NASDAQ: CIEN) is trading up after earnings. The company beat earnings but revenues were soft. Earnings were -$0.13 EPS versus -$0.25 EPS expected from Thomson Reuters; Revenues were up to $253.5 million, but estimates were $268 million. Shares closed at $13.84 and are up 4% at $14.40 on over 30,000 shares.

Eclipsys Corporation (NASDAQ: ECLP) is going to merge in an all-stock deal valued at $1.35 billion with Allscripts-Misys Healthcare Solutions (NASDAQ: MDRX). Eclipsys will receive 1.2 Allscripts shares for each Eclipsys share, what appears to be a 19% premium before any price reaction. Eclipsys shares are up only 11.5% at $20.65 on over 100,000 shares pre-market.

PharmAthene Inc. (AMEX: PIP) is trading higher aftyer reports that the U.S. Geberal Accounting Office has denied competitor protest of SparVax contract modifications. Shares are trading up almost 19% at $1.84 on thin volume.

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) said its Phase III study in gout patients initiating allopurinol therapy to lower uric acid levels with its ARCALYST prevented gout attacks. Shares are actually down over 5% at $24.98 now, but appear to have traded above $27.00 initially.

Tellabs Inc. (NASDAQ: TLAB) is tryiong to bounce after recent downgrade turmoil has whacked the shares. Reports came out late Tuesday that the spokesperson of Tellabs said that the market is overreacting as its product lifespan is longer than appreciated and that AT&T shipments remain strong and that it continues to compete for new business. Sounds familiar to what we called yesterday. Shares are up 0ver 4% at $6.64 on only about 15,000 shares in the pre-market.

Texas Instruments Inc. (NYSE: TXN) had its quarterly update and the chip-maker raised the lower end of its Q2 guidance forecast. It said that the rebound in industrial markets has been helping the sales of its analog and power management chips. Shares are up 2% at $24.36 on fairly thin pre-market trading.

TiVo Inc. (NASDAQ: TIVO) is down about 3% at $7.52 on only about 15,000 shares this morning. This one took a small hit yesterday but volume exploded right before the close after it released a statement showing that the court case decision had further remained against it.

TTI Team Telecom International Ltd. (NASDAQ: TTIL) is surging after news that TEOCO will acquire TTI in an all-cash buyout valued at $2.90 initially and up to $3.00 if adjustments are made from target performance. Shares are up 16% at $2.82, a new 52-week high.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Sponsor: 26 Cheap Stocks to Sell – Cheap stocks have been on a tear recently, but nine out of ten stocks are circling the drain!

Filed under: Pre-Market Activity, Trading Alert Tagged: BIDU, CIEN, ECLP, PIP, REGN, TIVO, TLAB, TTIL, TXN