These are some of the early upgrades we are seeing on Wall Street this Thursday morning:
Jon C. Ogg
November 6, 2008
Wachovia Corp. (NYSE: WB) is now in play as Wells Fargo (NYSE: WFC) has come out with an alternative merger deal in a stock for stock merger offer for all of Wachovia including all banking operations. Wells Fargo has reached an agreement to acquire all of Wachovia Corporation and all its businesses and obligations, including its preferred equity and indebtedness, and all its banking deposits.
These are ten of the analyst calls we are focusing on this Monday morning in pre-market trading:
Jon C. Ogg
June 2, 2008
These are not the only analyst calls this morning, but these are some of the impact calls we are seeing this Tuesday morning:
Jon C. Ogg
May 13, 2008
These are ten of the impact analyst calls we are seeing this Friday morning:
Jon C. Ogg
May 9, 2008
Jon Ogg produces and edits the "10 Stocks Under $10" weekly newsletter for 247WallSt.com.
Sovereign Bancorp (SOV) Moody’s cuts rating. Drops to $6.48 from 52-week high of $24.71.
Select Comfort (SCSS) Quarter short of expectation. Down to $2.45 from 52-week high of $19.03.
Taser (TASR) Misses estimates for quarter. Sells off to $7.30 from 52-week high of $19.36.
Starbucks (SBUX) What a mess. Misses every number imaginable. Drops to $15.39 from 52-week high of $32.30.
South Financial Group (TSFG) Posts a first quarter loss. Off to $6.02 from 52-week high of $24.79.
Douglas A. McIntyre
After today’s close, we have yet another special purpose acquisition company, or SPAC, that has filed to come public. Sidhu Special Purpose Capital Corp. filed for an initial public offering for $150 million in units. Each unit will consist of one share of common stock and one warrant with a $7.00 strike price. Sidhu will list on AMEX, although no ticker was designated. Bear Stearns is listed as the sole underwriter.
WNH Holdings, LLC, is the sponsor company, and that is controlled by its chairman and chief executive officer, Jay S. Sidhu, who served as chief executive officer of Sovereign Bancorp, Inc. (NYSE: SOV) from 1989 to 2006.
While the company claims it will not be focused only in one sector, it will initially focus its efforts on identifying, performing due diligence on, and effecting a business combination with one or more businesses which operate in the depository institutions sector and other businesses which operate in the broader financial services industry. The pool here looks rather large to choose from, as the filing noted that there are more than 6,100 privately held banks and thrifts in the U.S. and almost 1,400 publicly traded banks and thrifts.
Jon C. Ogg
March 3, 2008
After reviewing the 52-week lows today, it was almost the same old trend we have been seeing day in and day out…. Lenders… Banks… Homes… and Consumer…What is obvious is that the FOMC can continue to cut rates, but the consumer is stretched and the lenders don’t want to loan more funds. Hell, the borrowers might not even want to borrow either.
Freddie Mac (FRE) is hitting this list today and that is actually a low back to 2004. Fannie Mae has not hit the implode list, even after sending out payment from a class action last night. These might not all be at 52-week lows now, but lending stocks that hot new 52-week lows today are:
Lenders: (BKUNA) Bankunited Financial….habitual; (C) Citigroup; (CFR) Cullen Frost Bankers;
(CMA) Comerica; (FAF) First American; Indymac (IMB); (RF) Regions Financial; (SNV) Synovus Financial; (SOV) Sovereign; (VLY) Valley National Bancorp; (WM) Washington Mutual; (ZION) Zions Bancorp
Loan insurers: (PMI) PMI Group… not a lender, but the mortgage insurer we all hate; (RDN) Radian… financial enhancements to mortgage lenders; (TGIC) Triad Guaranty, same business as PMI.
Builders & Housing-related: Beacon Roofing (BECN), Brookfield Homes (BHS), Builders Firstsource (BLDR), Building Materials (BLG), Centex (CTX), Home Depot (HD), Lennar (LEN), Masco (MAS), M D C Holdings (MDC), Move (MOVE), Meritage Homes (MTH), Palm Harbor (PHHM)….
The earnings out of financial stocks are of course an issue, but interestingly enough yesterday Fox Business News had an exclusive interview with Warren Buffett. His comments were not any great hope that the worst has been seen in housing, and that those stocks still were not yet cheap. Take a look at Buffett’s comments that he gave exclusively to Fox Business News:
“I didn’t buy a share. I look at them. I look attheir debt, their equities. I look at everything. I’m waiting untilthey’re under priced. That’s what I look for with any security. And,I don’t think they’re undervalued. Starting 30 minutes, ending 18months ago – that year – we probably had more home builders offer toBerkshire where the managements wanted to see the business that I’veever seen in any industry. A significant percentage of thepublicly-owned home builders, when their stock was flying high andtheir management was talking bullishly, were trying to sell theircompanies. Apparently they knew what was going on or likely to go on.Though, I don’t think they saw it coming as extensively as it did.”
Jon C. Ogg
October 19, 2007
AHM cut to Sector Perform at RBC; cut to Underperform at JMP Securities.
BEBE cut to Neutral at Merriman Curhan Ford.
BEE raised to Buy at UBS.
CHRT cut to Underweight at JPMorgan.
CNSL raised to Hold at Citigroup.
DHR raised to overweight at JPMorgan.
DRH raised to Buy at UBS.
EDE raised to Buy at Jefferies.
ESLR raised to Neutral at B of A.
HK raised to Overweight at JPMorgan.
IR raised to Buy at Citigroup; downgraded to Neutral at Baird.
KNX raised to Overweight at JPMorgan.
KOF raised to Neutral at JPMorgan.
MEE cut to Underperform at FBR.
MGM raised to Overweight at Lehman.
MSA raised to Outperform at Baird.
MOT raised to MKt Perform at JMP Securities.
NSC raised to Overweight at JPMorgan.
OEH raised to Buy at UBS.
PFGC raised to Overweight at JPMorgan.
PLCE cut to Neutral at Susquehanna.
SEPR raised to Buy at B of A.
SOV raised to Peer Perform at Bear Stearns.
SWX raised to Buy at UBS.
Jon C. Ogg
July 30, 2007
| Today’s top tickerspy Indexes | |
| Coffee Stocks | +16.3% |
| Hotel Stocks | +9.0% |
| 2009 IPOs | +8.2% |
| Education Stocks | +4.7% |
| Coal Stocks | +4.4% |
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