The unofficial closing bells put the DJIA down nearly 7 points to 12,653.5 (-0.05%), the NASDAQ fell more than 4 points (-0.16%) to 2,811.94, and the S&P 500 fell -0.25% or more than 3 points to 1,313.02.

There were several analyst upgrades and downgrades today, including Kellogg Co. (NYSE: K) cut to ‘neutral’ at JP Morgan; Staples Inc. (NASDAQ: SPLS) cut to ‘sell’ at Goldman Sachs; Time Warner Inc. (NYSE: TWX) cut to ‘equal-weight’ at Barclays; Advance Auto Parts Inc. (NYSE: AAP) and Autozone Inc. (NYSE: AZO) both raised to ‘buy’ at Goldman Sachs; and JPMorgan Chase & Co. (NYSE: JPM) maintained as ‘buy’ but removed from Conviction Buy List at Goldman Sachs.

Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: Gannett Co. Inc. (NYSE: GCI) is down -6.77% at $14.19; Sify Technologies Ltd. (NASDAQ: SIFY) is down -5.4% at $4.74; The Wendy’s Co. (NYSE: WEN) is down -3.03% at $5.05; and Old National Bancorp. (NYSE: ONB) is down -1.90% at $11.86.

Other standouts from today include the following stocks:

GTX Inc. (NASDAQ: GTXI) is up nearly 49% at $5.86. The drug maker’s shares have been given a new price target of $19/share from Citigroup. We have more coverage here.

Pep Boys – Manny, Joe and Jack (NYSE: PBY) is up more than 23.5% at $14.92 after posting a new 52-week high of $15 earlier in the day. The auto parts retailer has agreed to an acquisition at $15/share. See more of our coverage here.

Thomas & Betts Corp. (NYSE: TNB) is up 13.33% at $71.28 after posting a new 52-week high of $71.80 earlier today. The electrical components maker has agreed to an acquisition by ABB Ltd. for $3.9 billion.

Cell Therapeutics Inc. (NASDAQ: CTIC) is down nearly -18% at $1.10. The drug maker has withdrawn its application with FDA for approval of its non-Hodgkin’s lymphoma treatment.

Pharmerica Corp. (NYSE: PMC) is down nearly -12% at $12.64. The pharmacy services provider has expressed its wish that a hostile takeover bid from Omnicare Inc. (NYSE: OCR) will be withdrawn, following a Federal Trade Commission suit to block the deal. More coverage here.

Stay tuned for Tuesday. We have noted the following events on the schedule (all times Eastern):

• 8:30 a.m. – Employment cost index
• 9:00 a.m. – Case-Shiller housing price index
• 9:45 a.m. – Chicago purchasing managers index (PMI)
• 10:00 a.m. – Consumer confidence index
• 3:00 p.m. – Farm prices report

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Paul Ausick

Advanced Auto Parts Inc. (NYSE: AAP) Raised to Buy at Goldman Sachs.
AutoZone, Inc. (NYSE: AZO) Raised to Buy at Goldman Sachs.
Bank of America Corporation (NYSE: BAC) Cut to Neutral at Goldman Sachs.
Citigroup , Inc. (NYSE: C) Raised to Buy at Goldman Sachs.
HollyFrontier Corporation (NYSE: HFC) Cut to Neutral with $27 target at Citigroup.
ImmunoGen Inc. (NASDAQ: IMGN) Reiterated Buy with $17 target at Canaccord Genuity.
JAKKS Pacific (NASDAQ: JAKK) Cut to Underperform as Bear of the Day at Zacks.
J.P. Morgan Chase & Co. (NYSE: JPM) Maintained Buy but removed from Conviction Buy List at Goldman Sachs.
Kellogg Co. (NYSE: K) Cut to Neutral at JPMorgan.
Key Energy Services (NYSE: KEG) Maintained Buy but raised estimates ($19 target) at Canaccord Genuity.
Methanex Corporation (NASDAQ: MEOH) named as Value stock of the day at Zacks.
Monster Beverage Corporation (NASDAQ: MNST) Cut to Neutral at SunTrust.
Morgan Stanley (NYSE: MS)  Raised to Conviction Buy list at Goldman Sachs.
Mylan, Inc. (NASDAQ: MYL) Raised to Outperform as Bull of the Day at Zacks.
Staples Inc. (NASDAQ: SPLS) Cut to Sell at Goldman Sachs.
Time Warner Inc. (NYSE: TWX) Cut to Equal-Weight at Barclays.
Whole Foods Market. Inc. (NASDAQ: WFM) Maintained Buy but removed from Conviction BUy List at Goldman Sachs.

This is overseas, but BofA has downgraded Societe Generale and BNP Paribas to Neutral from Buy this morning.

Here were the top analyst calls of the last week condensed into one short piece.

If you enjoyed the top analyst calls, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We include major analyst upgrades and downgrades, IPO and M&A news, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

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JON C. OGG

Read the ten best online stores this holiday
Read the ten worst online stores this holiday 

To put those customer service rankings in context, we looked at how the parent companies that own the websites have performed recently.  We found that a strong customer service rating often coincides with a company that has widely regarded brands.

It begs the question: Does Apple (NASDAQ: AAPL) have such a high customer service ranking because so many consumers love the Apple brands? Or, is Apple’s customer service for online shoppers really superior to that of other e-commerce businesses? Apple is tied for second place in the index. Amazon.com is in first place. It also has a sterling reputation with consumers, as do some of its major products like the Kindle.

At the bottom of the ForeSee index are Gap (NYSE: GPS), Sony (NYSE: SNE) and Overstock (NASDAQ: OSTK). Gap recently said it would close 21% of its U.S. flagship stores. Sony has had trouble gaining sales for its PCs, games, smartphone and TV products. Overstock, an also-ran online department store, was founded in the days of the dial-up internet. It is hard to see how any of these could be at the top of the list. Or, perhaps if they were at the top of the list, they would not be in such deep trouble now.

ForeSee’s E-retail Satisfaction Index included the top 40 retailers by sales. The company surveyed 8,500 customers between Thanksgiving and Christmas. Despite its shortcomings, 24/7 Wall St. used the data from ForeSee as a foundation, because it is a reasonable measurement of the experience that consumers have with specific e-commerce sites, whether those sites are part of highly successful companies or ones on the verge of failure.

There is also some evidence that a few troubled retailers have actually performed well online. Whether that success is enough to save the companies themselves is impossible to tell. One such example is Avon (NYSE: AVP), with online service that is tied for second among all e-commerce sites in the ForeSee index. But Avon recently posted a disastrous quarter, and its CEO of 12 years was dismissed. Similarly, JCPenney’s (NYSE: JCP) online operations’ customer satisfaction is equal to Apple’s, which is also tied for second place in the ForeSee rankings. However, JCPenney has lost sales to big-box retailers such as Walmart (NYSE: WMT) for years. It is worth noting that JCPenney just hired the head of retail stores at Apple to turn the bricks-and-mortar retailer around. Apple is one of the few companies that was successful online long before it began to build physical stores.

These are the the companies with the best and worst online customer satisfaction. To draw our conclusions about why they are on the list and what the relationship is between the companies and their e-commerce operations, we examined three factors: the ForeSee satisfaction data, the annual sales of each of the companies, and the amount of traffic each site had in November — the most recent month measured by audience research firm Compete.com. Foresee describes its rating as “Average customer satisfaction with the top 40 U.S. e-retail websites increased by one point this year to tie 2009’s all time high score of 79 on the study’s 100-point scale. Satisfaction scores for individual e retailers span a 16-point  range, from a high of 88 (Amazon) to a low of 72 (Overstock).”

Amazon.com (NASDAQ: AMZN) ranked first. That makes sense. Amazon is the world’s largest e-commerce company. Without excellent customer service, it would not hold that position for long. Amazon’s revenue has grown at a rate near 50% for the past two quarters.

The bottom of the list is littered with some companies that have deeply offended customers in some way. Netflix (NASDAQ: NFLX) is there. It raised rates and confused its subscribers with a jumble of explanations. The Gap (NYSE: GPS) is near the bottom as well. Gap’s image probably was not helped when it announced that it would shutter 21% of its flagship stores in the U.S. The news almost certainly undermined employee morale as well. This should have spilled over into customer service problems.

The bottom of the list also contained some firms that have to improve customer relations if they are to recover from terrible sales problems that have persisted for years. All three office suppliers fall toward the troubled part of the list: Office Depot (NYSE: ODP), Staples (NASDAQ: SPLS) and Office Max (NYSE: OMX). And of course, as should be expected — Sears (NASDAQ: SHLD) is there.

Customers probably see company e-commerce efforts through the same lens as efforts and satisfaction in bricks-and-mortar operations. That shows up in the ForeSee report.

Douglas A. McIntyre

Over the past four weeks, both Staples and Office Max have seen their target prices drop. At Staples, the median target price fell from $19.00 to $18.00. The share price today is $14.40, indicating a potential upside of 25%. At Office Max, the median price target fell from $7.50 to $6.75, indicating a potential upside of 42.1%. At its current earnings multiple of about 8, Office Max could be a contender, but the company is closing stores and only expects revenue to be flat with last fiscal year. The company’s price/book ratio is also a very low 0.62, but again, that could be deceptive.

Staples’ median target price has fallen further below its 52-week high in the past month and its price/book ratio is pretty high at 1.40. The company reported weak sales and earnings, and like all the office supply stores, traffic is down. The trend is particularly bad in Europe. Staples may hit its revenue and profit targets for the quarter and the year, but that’s only because the estimates have come down.

Barnes & Noble missed revenue and profit estimates yesterday, but the stock continues to rise because sales of the company’s Nook e-readers and tablets have risen sharply (85%, to $200 million) and investors believe the trade-off for book sales is a positive sign. B&N’s median target price rose from $15.50 to $20.00 over the past four weeks, and at today’s price of $16.15, the potential upside is 23.8%. Nook sales account for just over 10% of the company’s total revenue, so unless sales continue to climb at last quarter’s rate, B&N’s chances of fulfilling its promise are pretty slim. The company’s forward P/E is 37.42 and the price/book ratio is 1.09, which could lead one to believe that the stock may be approaching an overbought status. The company’s share price has risen by about 25% in the past 12 months.

Sotheby’s median price target fell from $51.00 to $45.00, and at a current price of $32.14, the stock’s potential upside is 40%. That figure would be cause for more joy if Sotheby’s share price hadn’t fallen by -7% in the past month and if the target price were still about the 52-week high. Sotheby’s forward P/E is 10.79, but its price/book ratio is 2.47. For the fiscal year ending this month, Sotheby’s EPS estimate has fallen by -$0.23 in the past 90 days. This does not look like a company about to bust its target price.

PetsMart has a median target price of $53.50, a rise of $3.50 over the past four weeks. At today’s share price of $48.95, the potential upside for the stock is 9.3%. The company beat third-quarter earnings and revenue expectations and boosted its fourth-quarter EPS estimate to $0.85-$0.89. Shares put up a new 52-week high of $49.03 today. The company’s forward P/E is 16.36, and its price/book ratio is a fairly high 4.66. But sales and profits have been growing, and the stock price is up about 25% this year.

Share price gains have fallen about equally on B&N and PetsMart in the past year. The other stocks we’ve looked at have lost between -25% and -75%, with Office Max the biggest loser. B&N also boasts a 5.7% dividend yield, compared with just 1.2% for PetsMart.

PetsMart’s 9.3% potential upside is within reach as long as the store sticks to its business, while B&N’s potential gain of nearly 24% depends on selling boatloads of its Nook devices, which is possible and  perhaps even likely. But as that happens B&N cannibalizes its old business and that may be hard to make up quickly.

Paul Ausick

The world’s largest retailer managed to beat revenue expectations, but missed EPS estimates by a penny. Walmart posted revenue of $110.2 billion, up more than 8% from the same period a year ago and about 2% higher than estimates of $108.1 billion. The consensus EPS estimate called for $0.98, about 10% below EPS in the 2010 third quarter, but Walmart managed only $0.97. One bright spot for the company is that same-store sales for the quarter rose 1.3%, nearly double estimates of 0.7%.

Home Depot beat both EPS and revenue expectations, posting EPS of $0.60 on revenue of $17.3 billion. Consensus estimates called for EPS of $0.58 on revenue of $17.1 billion. The company also boosted its dividend, from an annual rate of $1/share to $1.16, up 16%. Home Depot also raised EPS guidance from $2.34 to $2.38. Home Depot’s report stands in stark contrast to competitor Lowe’s Companies Inc. (NYSE: LOW), which disappointed analysts on same-store sales and expenses related to store closures. Home Depot also reported quarterly same-store sales growth of 4.2%, far better than Lowe’s 0.7% rise.

High-end retailer Saks reported revenue for its third quarter of $692.3 million, lower than the consensus estimate of $695.1 million. EPS totaled $0.11, beating expectations of $0.09. Same store sales rose 5.8% for the quarter and 10.3% for the nine months. The company forecast same-store sales growth in the fourth quarter in the ‘mid-to-high single digit range.’ However gross margin is expected to decline by 0.5%. Gross margin in the third quarter rose by 1.6% year-over-year, and the decline is mostly due to expected promotional pricing.

TJX Companies missed on revenues, but did meet EPS estimates. The company reported this morning that EPS came in at $1.06, exactly on the consensus estimate, while revenue of $5.8 billion was below the estimate of $5.85 billion. Same-store sales were up 3% year-over-year. The company forecast full-year EPS of $3.94-$3.97, compared with the current analysts’ estimate of $3.97. The fourth-quarter EPS estimate was unchanged, at $1.19-$1.23. TJX raised its same-store sales guidance from 1%-2% to 2%-3%, but gave no guidance on gross margins, which came in at 28.1% in the third quarter.

Staples reported EPS of $0.47, as expected, but revenue of $6.6 billion failed to meet expectations of $6.7 billion. The company forecast fourth-quarter EPS of $0.39-$0.43, while analysts are expecting $0.43. Full-year adjusted EPS is forecast at $1.35-$1.39, compared with an estimate of $1.39. The full-year EPS forecast declined from a previous range of $1.39-$1.45. The company also tried to sweeten the news by boosting its full-year share buyback total from $300-$500 million to $600 million.

J.C. Penney posted an EPS loss of -$0.67 after the markets closed yesterday, but adjusted for certain items, EPS came in at $0.11, considerably better than the consensus call for an EPS loss of -$0.12. The company guided fourth quarter adjusted EPS at $1.05-$1.15, where analysts had expected $1.15. Same-store sales fell in the quarter, by -1.6%, and total sales fell year-over-year by -4.8%. The new CEO, Ron Johnson who came from Apple Inc. (NASDAQ: AAPL), started work on November 1st and promises a strategy review in time for the company’s investor meeting in January.

Urban Outfitters posted disappointing results after markets closed yesterday, even though EPS beat expectations by a penny. Same-store sales were off by -7%, and revenues of $610 million missed estimates of $614 million. Gross margins fell by nearly -6%.

A capsule review of these earnings reports points to a relatively flat fourth-quarter, with the exceptions of Home Depot and Saks. Home Depot has managed its operations better than has Lowe’s and its dividend boost is the second this year. Saks benefits from its position in the luxury retail sector, which is were the money and the growth are. For the others, the predicted 1%-2% holiday season sales boost means only that competition will be even more fierce, putting pressure on margins and profits.

Shares of Saks are up about 1.75%, at $10.38 in a 52-week range of $7.67-$12.97. Walmart shares are down about -2.3%, at $57.52, in a 52-week range of $48.31-$59.40. Home Depot is up about 1%, at $38.63, in a 52-week range of $28.13-$39.38. Urban Outfitters is down more than -3.25%, at $25.95, after posting a new 52-week low of $25.69 earlier this morning. Staples is down more than -4.25%, at $14.72, in a 52-week range of $11.94-$23.75.

Paul Ausick

The companies we’re looking at include Office Depot, Inc. (NYSE: ODP), Office Max Inc. (NYSE: OMX), Staples, Inc. (NASDAQ: SPLS), Barnes & Noble, Inc. (NYSE: BKS), Coinstar, Inc. (NASDAQ: CSTR), Sotheby’s (NYSE: BID), Tractor Supply Co. (NASDAQ: TSCO), Titan Machinery Inc. (NASDAQ: TITN), PetSmart Inc. (NASDAQ: PETM), and Luxottica Group S.p.A. (NYSE: LUX).

Diversity aside, most of these stocks have very high implied gains, which means either that they are worth a second look or that there is no hope that any will ever hit their targets and that a lower target is soon to come. Which result will occur depends to a large extent on competitors in the same business, the overall economy, and whether consumers regain some of their lost confidence.

All data from Yahoo! Finance, with current prices taken at about noon today.

Office Depot, Inc. (NYSE: ODP) has a median target price of $4.00 from 13 brokers. Shares are trading today at $2.30, for an implied gain of $1.70, or 74%. Office Depot’s forward P/E is 28.5 and the company does not pay a dividend. The stock’s 52-week trading range is $1.75-$6.25, and at today’s price that’s about 31% above its 52-week low, posted earlier this morning, and 63% below the 52-week high.

Analysts didn’t expect much from Office Depot in the third quarter, and the company failed to deliver even that. EPS was break-even compared with an expected EPS of $0.01. Revenue also missed estimates. The implied gain in this stock is purely illusory when you consider its earnings and its immodest forward P/E.

Office Max Inc. (NYSE: OMX) has a median target price of $7.50 from 14 brokers. Shares are trading today at $5.10, for an implied gain of $2.40, or 47%. Office Max’s forward P/E is 7.39 and the company does not pay a dividend. The stock’s 52-week trading range is $3.90-$19.20, and at today’s price that’s about 31% above its 52-week low, posted earlier this morning, and 73% below the 52-week high.

Office Max reported that net income rose last quarter but revenue fell, as a result of cost-cutting measures. The company expects full-year revenue to be flat with last year. The company also plans to continue closing stores. There’s little long-term happiness in store for the company.

Staples, Inc. (NASDAQ: SPLS) has a median target price of $19.00 from 16 brokers. Shares are trading today at $14.69, for an implied gain of $4.31, or 29%. Staples’ forward P/E is 9.58 and the company pays a 2.8% dividend yield. The stock’s 52-week trading range is $11.94-$23.75, and at today’s price that’s about 23% above its 52-week low, posted earlier this morning, and 38% below the 52-week high.

Staples has been rumored as a possible buyer of either Office Depot or Office Max or both. The company’s market cap of $10.5 billion is about 10X the market cap of the other two combined, so such a deal is not out of the question. Staples’ target price is now lower than its 52-week high, a sign that analysts don’t expect a lot of growth. That could either spur the company to go ahead with an acquisition or cause it to sit on its hands.

Barnes & Noble, Inc. (NYSE: BKS) has a median target price of $15.50 from 4 brokers. Shares are trading today at $11.52, for an implied gain of $3.98, or 35%. B&N’s forward P/E is 33.87 and the company pays a huge 8.1% dividend yield. The stock’s 52-week trading range is $10.30-$12.65, and at today’s price that’s about 12% above its 52-week low, posted earlier this morning, and 9% below the 52-week high.

B&N is trying to keep up with Apple Inc. (NASDAQ: AAPL) and Amazon.com (NASDAQ: AMZN) in the e-reader/tablet market. The company is set to announce a new entrant in its Nook device family on Monday. Somehow, taking on the two biggest players in the market with a device that costs more than a comparable device from Amazon and has far less capability than an Apple iPad just doesn’t seem like a long-term winning strategy.

Some of these stocks are in technology, some are not.  Our criteria is to eliminate junk: no companies losing money, no declining earnings, no fresh implosions, no Chinese ADRs, no stuck multi-year turnarounds, and no restructurings that are changing the identity of a company. We also wanted to find companies where analysts still believe that earnings in 2012 will be higher than in 2011, and we eliminated companies in the troubled banking, housing, and auto sectors.  We screened out the volatile commodity stocks, used a multi-billion market cap floor, demanded many years of operating history, and even made sure that each stock had 10 or more analysts covering the stock to make sure that consensus was truly a consensus rather than a straw-poll.

The screened stocks expected to outperform Apple are as follows: Caterpillar Inc. (NYSE: CAT); EI DuPont de Nemours & Co. (NYSE: DD); EMC Corporation (NYSE: EMC); FedEx Corporation (NYSE: FDX); General Electric Company (NYSE: GE); Google Inc. (NASDAQ: GOOG); Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR); QUALCOMM Incorporated (NASDAQ: QCOM); SanDisk Corporation (NASDAQ: SNDK); Staples, Inc. (NASDAQ: SPLS); Urban Outfitters Inc. (NASDAQ: URBN); and Walt Disney Co. (NYSE: DIS).  A few names with more upside that might immediately come to mind are Netflix, Inc. (NASDAQ: NFLX), OpenTable, Inc. (NASDAQ: OPEN), or First Solar Inc. (NASDAQ: FSLR).  Unfortunately, these stocks, even if they do technically have higher implied upside according to analysts, are all under death watch due to a share price implosion.  The consensus targets and any earnings estimates are from Thomson Reuters and Yahoo! Finance.

The convenience of online shopping and the ability to make price comparisons on the Internet has completely changed retail trends in the past decade. Amazon.com (NASDAQ: AMZN) and other e-commerce sites have already taken a significant lead. Amazon’s revenue in the latest quarter grew 51% to $9.9 billion. If revenue continues to increase at this rate, Amazon will become a $60 billion company next year. That is larger than Lowe’s or Best Buy, and it makes brick-and-mortar retailers shudder.

24/7 Wall St. has analyzed the effectiveness of the e-commerce operations at 25 huge, publicly traded retailers in the U.S. We looked at total revenue for 2010 based on SEC filings. We then considered each company’s web traffic for July 2011 based on data from Experian Hitwise, a research company that measures online audiences. We looked at the total traffic of each company and its share of traffic among the 25 retailers.

This list includes the worst ten retailers in terms of the ratio of annual revenue to the company’s share of Internet traffic among the retailers in July. A retailer with very large revenues but low Internet visits has done a poor job of getting more customers to shop online. Naturally, the largest online retailer, Amazon, received the best e-commerce effectiveness score of 2.1. The higher the score, the worse the performance.

Some of the results are to be expected. Pharmacies and home supply stores such as Home Depot and CVS Caremark do not do particularly well. It seems that although the companies have well-established e-commerce operations and sophisticated websites, people tend to shop for drugstore items and building materials by visiting physical locations. Still, these companies cannot ignore e-commerce, because people increasingly buy items of nearly any kind online.

The most notable result of the analysis is how poorly Walmart did, given its position as the number one retailer in the world and tremendous financial and merchandising resources. Walmart received one of the worst ranks among all the companies considered. Walmart.com is the second most visited e-commerce site on the Internet, based on Hitwise numbers. But the portion of Walmart’s sales that come from e-commerce are extremely small — less that 2%, or $6 billion, according to analysts from Wells Fargo Securities. Craig Johnson, president of Customer Growth Partners LLC, told Bloomberg, “Wal-Mart has been lagging in e-commerce, and the loss of two executives won’t help where the company’s going. It will be challenging for them to build the momentum they need.” The world’s largest retailer recently dismissed its two senior online executives.

The Ten Biggest Stores With No Online Shoppers

The company’s second quarter earnings rose more than 35% as it improved on sales.  This translated to $0.22 EPS and Thomson Reuters had estimates of $0.20 EPS.  The company sees next quarter earnings in a range of $0.46 to $0.48 EPS and sees sales gaining by the low single-digits while Thomson Reuters has estimates of $0.46 EPS.

Staples sees 2011 adjusted earnings at $1.39 to $1.45 EPS versus a prior range of $1.35 to $1.45 EPS, and the actual was put at $1.42 to $1.48 EPS.  Whichever figure you use, Staples is ahead of plan (Thomson Reuters has estimates of $1.37 EPS) at a time when uncertainty is supposed to be taking down numbers rather than helping numbers.  The company also backed 2011 sales growth in the low single-digits.  As far as free cash flows, that is projected to be more than $1 billion for the year.

So, here is why today’s results are also catapulting the stock… The most recent short interest data was 30.49 million shares.  That is the highest reading in at least a year when the settlement day’s price was $16.06.  At the peak of selling last week, Staples actually dipped under $12.00 briefly.  Shares are up 1.5% at $14.44 so far but profit taking has taken shares down from nearly $15.50 earlier this morning.  The 52-week range is $11.94 to $23.75.

The rival in office products is Office Depot, Inc. (NYSE: ODP) and the stock was raised to Neutral from Sell by UBS this morning.  OfficeMax Incorporated (NYSE: OMX) is up 0.5% at $6.11 today as well.

Maybe the world of office supplies and real products is not as dire as it seemed before last week.

JON C. OGG