24/7 Wall St. » SVU

Short Sellers Cast a Wide Net (ACI, XCO, SD, FST, XOM, DUK, AMD, SNY, PFE, NOK, BKS, SVU, PBI, DV, BPI)

Paul Ausick — Thu, 10 May 2012 15:03:31 +0000

The energy sector saw a lot of activity from short sellers in April, but other stocks saw some action as well. We’ve already covered some of the bigger names here and some of the cult stocks here.

Arch Coal Inc. (NYSE: ACI) saw a gain of 18.7% in short interest as of for the two weeks ended April 30th. More than 6.6 million shares were added to short interest and 20% of the company’s float is now short. The coal miner’s poor earnings and forecast are to blame.

Short interest in Exco Resources Inc. (NYSE: XCO) rose nearly 12% to more than 33.5 million shares, or 19.3% of the company’s float. The oil & gas driller missed revenue expectations, although it did post a profit. Revenue is more important now however.

Among the largest overall short positions, SandRidge Energy Co. (NYSE: SD) got short interest on 49.5 million shares, nearly 12% of its float and up 6.7% from the previous reporting period. Shares are down more than -33% in the past 12 months, and the small spikes don’t affect short sellers here. The long-term outlook for natural gas continues to call for weak pricing.

E&P company Forest Oil Co. (NYSE: FST) was another recipient of more short interest in late April. Short sellers added about 3 million shares, a 24.7% increase and enough to put nearly 13% of the company’s float short.

Even Exxon Mobil Corp. (NYSE: XOM) didn’t escape. Short sellers added 7.7 million shares to their positions, a 31.8% change to 32 million shares, but still less than 1% of Exxon’s shorts.

The final energy company we’ll look at here is Duke Energy Corp. (NYSE: DUK), where 5.8 million additional shares were added to short positions, bringing total shorts to just over 79 million shares. That’s an addition of 8% and represents 5.9% of Duke’s float. It’s odd to see a utility on this list.

Advanced Micro Devices Inc. (NYSE: AMD)saw short interest in its share rise by 6.5% to more than 70 million shares or 11.9% of the company’s float. AMD continues to suffer from lower-than-expected earnings and revenues.

Short interest in Sanofi (NYSE: SNY) jumped 265% to more 13.4 million shares. While still only about 0.5% of the company’s float, but generic drug sales are hurting the company as is a weak economy in Europe. Neither condition is expected to improve soon either.

Short interest in Pfizer Inc. (NYSE: PFE) also rose sharply, buy 21.4% to reach a total of 63.6 million shares, about 0.8% of the company’s float. Like Sanofi, competition from generics hurts. The company also said it will reduce marketing expenditures on its Lipitor drug.

Nokia Corp. (NYSE: NOK) gets the honor for being the equity with the largest number of short shares, 195 million, which represents 5.2% of the company’s float. The good news is that short interest fell by more than 32 million shares, also the largest change.

More than 75% of Barnes & Noble Inc.’s (NYSE: BKS) float is short, about 19.8 million shares. Short interest in the company grew by just 700,000 shares since mid-April.

Short interest holds more than 42% of grocer SuperValue Inc.’s (NYSE: SVU) shares with a total of 88.5 million shares short, up slightly from two weeks ago.

Short interest in Pitney Bowes Inc. (NYSE: PBI) actually fell slightly , but the company’s total of 50.5 million shares short represents 25.3% of the float and 22 days to cover.

Short interest in for-profit educator DeVry Inc. (NYSE: DV) jumped 123.2% to 3.7 million shares or 6.3% of the company’s float. Another education company, Bridgepoint Education Inc. (NYSE: BPI) posts short interest of more than 9.7 million shares, or 56% of its float.

Paul Ausick

Filed under: Short Interest Tagged: ACI, AMD, BKS, BPI, DUK, DV, FST, NOK, PBI, PFE, SD, SNY, SVU, XCO, XOM

Top Analyst Upgrades & Downgrades (AMSC, CPHD, EGO, GME, HBAN, JCP, M, NVDA, PLCM, SAP, SVU, UAL, YELP)

Administrator — Wed, 11 Apr 2012 12:17:35 +0000

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

American Superconductor Corporation (NASDAQ: AMSC) Started as Buy at Maxim Group.

Cepheid, Inc. (NASDAQ: CPHD) named Bull of the Day at Zacks.

Eldorado Gold Corporation (NYSE: EGO) Raised to Buy at Canaccord Genuity.

GameStop Corporation (NYSE: GME) Cut to Hold at Needham.

Huntington Bancshares (NASDAQ: HBAN) Started as Neutral at Goldman Sachs.

J. C. Penney Company, Inc. (NYSE: JCP) Started as Neutral at UBS.

Macy’s, Inc. (NYSE: M) Started as Neutral at UBS.

NVIDIA Corporation (NASDAQ: NVDA) Started as Outperform at RBC.

Polycom Inc. (NASDAQ: PLCM) Cut estimates but maintained Buy at Argus.

SAP AG (NYSE: SAP) Cut to Hold at ThinkEquity.

SuperValu Inc. (NYSE: SVU) maintained Neutral but cut target to $6 at Credit Suisse.

United Continental (NYSE: UAL) named as Bear of the Day at Zacks.

Yelp Inc. (NYSE: YELP) Started as Neutral at Goldman Sachs; Started as Neutral at Citigroup; Started as Perform at Oppenheimer; Started as Hold at Jefferies.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

JON C. OGG

Filed under: Analyst Calls Tagged: AMSC, CPHD, EGO, GME, HBAN, JCP, M, NVDA, PLCM, SAP, SVU, UAL, Yelp

Finally A Value Case for SuperValu (SVU)

Administrator — Tue, 10 Apr 2012 13:16:26 +0000

Supervalu Inc. (NYSE: SVU) may be the third largest supermarket chain operator in America, but this one has been down and out before this fresh earnings report. Shares are surging on better than expected earnings and on a surprisingly strong guidance.

The company reported a loss of $424 million or $2.00 per share, but that is after asset impairment charges and layoff and restructuring costs. Supervalu would have earned $0.38 EPS outside of items. That is down from $0.44 EPS a year earlier but well above the consensus target from Thomson Reuters of $0.35 EPS. Revenue was down by 5% to $8.23 billion, and that was slightly under the Thomson Reuters consensus target of $8.31 billion.

Guidance is where SuperValu’s story gets interesting. The company forecast annual earnings to be in a range of $1.27 to $1.42 EPS outside of items against a backdrop of $1.19 per share expected from Thomson Reuters. With a $5.32 closing price on Monday, the case for value is strong in an obvious turnaround. The 52-week trading range is $5.07 to $11.77 and shares recently put in a multi-decade low after having been above $45 briefly almost ten years ago.

It is without surprise that today’s report has shares indicated up over 16% at $6.18.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Earnings, Food, Retail, Turnarounds, Value Investing Tagged: SVU

24/7 Wall St. Closing Bell (AAPL, LNKD, DIS, MJN, GOLD, WDFC, GBX, SVU, AA, AOL, MSFT, CKSW, WOLF)

Paul Ausick — Mon, 09 Apr 2012 20:07:35 +0000

Markets opened lower this morning on the first trading day in the US following last week’s poor report on non-farm payrolls. Higher-than-expected inflation in China also caused led some observers to suggest that the Chinese government may introduce more measures to cool the economy. The US dollar index fell today, now down -0.21% at 79.720. Commodities were mixed, with wool posting the largest gain and orange juice the biggest loss. WTI crude oil closed down -0.8% at $102.46/barrel, and Brent crude trades down -0.60% at $122.69/barrel. Gold settled up 0.9% today, at $1,643.90/ounce.

The unofficial closing bells put the DJIA more than 130 points to 12,929.59 (-1.0%), the NASDAQ fell more than 33 points (-1.08%) to 3,047.08, and the S&P 500 fell -1.14% or nearly 16 points to 1,382.20.

There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) cut to ‘neutral’ at BTIG; LinkedIn Corp. (NYSE: LNKD) started as ‘hold’ at Needham; Walt Disney Co. (NYSE: DIS) cut to ‘neutral’ at Citigroup; Mead Johnson Nutrition Co. (NYSE: MJN) reiterated ‘outperform’ with target price of $82 at Credit Suisse; and Randgold Resources Ltd. (NASDAQ: GOLD) raised to ‘buy’ at Stifel Nicolaus.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: WD-40 Co. (NASDAQ: WDFC) is up 0.56% at $45.03, and Greenbrier Companies (NYSE: GBX) is down -6.4% at $18.45. The new earnings season begins in earnest tomorrow with Supervalu Inc. (NYSE: SVU) reporting before markets open and Alcoa Inc. (NYSE: AA) reporting after the markets close.

Here’s our preview of the coming week’s top earnings reports.

Other standouts from today include the following stocks:

AOL Inc. (NYSE: AOL) is up 43% at $26.37 after posting a new 5-week high of $27.47 earlier today. The company sold a package of patents to Microsoft Corp. (NASDAQ: MSFT) More coverage here.

ClickSoftware Technologies Ltd. (NASDAQ: CKSW) is down nearly -16% at $10.56. The workforce management software company lowered its first quarter outlook. More coverage here.

Great Wolf Resorts Inc. (NASDAQ: WOLF) is up more than 12% at $7.39 after posting a new 52-week high of $7.45 earlier today. The company is the target of a bidding war. More coverage here.

Soon-to-be-public Facebook Inc. paid $1 billion in cash and stock for photo-sharing site Instagram. More coverage here.

Stay tuned for Tuesday. Boston Fed President Eric Rosengren, Minneapolis Fed President Naryana Kocherlakota, Dallas Fed President Richard Fisher, and Atlanta Fed President Dennis Lockhart are all giving speeches. We have noted the following events on the schedule (all times Eastern):

7:30 a.m. – NFIB small business optimism index
10:00 a.m. – Wholesale trade
11.30 a.m. – 4-week bill auction
1:00 p.m. – 3-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AA, AAPL, AOL, CKSW, DIS, GBX, gold, LNKD, MJN, MSFT, SVU, WDFC, WOLF

Top Analyst Upgrades & Downgrades (AXP, ATML, BLK, CVX, CLR, EPR, EQR, FTE, HBC, JNPR, LEN, LECO, MWE, MSFT, OAS, SVU)

Administrator — Thu, 12 Jan 2012 13:29:11 +0000

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

American Express Co. (NYSE: AXP) Reiterated Buy with $60 target at Argus.
Atmel Corporation (NASDAQ: ATML) Maintained Buy but cut target to $11 at Canaccord Genuity.
BlackRock Inc. (NYSE: BLK) Started as Buy at UBS.
Chevron Corporation (NYSE: CVX) Maintained Outperform but cut earnings estimates at Credit Suisse.
Continental Resources (NYSE: CLR) Cut to Hold with $79 target at Canaccord Genuity.
Entertainment Properties Trust (NYSE: EPR) Cut to Neutral at JPMorgan.
Equity Residential (NYSE: EQR) Cut to Neutral at JPMorgan.
France Telecom SA (NYSE: FTE) Cut to Underweight at JPMorgan.
HSBC Holdings PLC (NYSE: HBC) Cut to Underperform at BofA/ML.
Juniper Networks Inc. (NYSE: JNPR) Cut to Hold at Argus.
Lennar Corporation (NYSE: LEN) Cut to Market Perform at KBW.
Lincoln Electric Holdings, Inc. (NASDAQ: LECO) named as Value stock of the day at Zacks.
MarkWest Energy Partners (NYSE: MWE) named as Bull of the Day at Zacks.
Microsoft Corporation (NASDAQ: MSFT) Maintained Outperform but cut target to $34 from $35 at Credit Suisse; Maintained Hold and lowered estimates at Argus.
Oasis Petroleum (NYSE: OAS) Cut to Hold with $32 target at Canaccord Genuity.
SUPERVALU Inc. (NYSE: SVU) Maintained Neutral but cut target to $7 from $10 at Credit Suisse.

JON C. OGG

Filed under: Analyst Calls Tagged: ATML, AXP, BLK, CLR, CVX, EPR, EQR, FTE, HBC, JNPR, LECO, LEN, MSFT, MWE, OAS, SVU

24/7 Wall St. Closing Bell (ALU, WBMD, URBN, RL, AWK, LEN, SVU, SHIP, LEDS, SNX, JASO, YRCW, CROX, HL, HRC)

Paul Ausick — Wed, 11 Jan 2012 21:05:20 +0000

Equities opened modestly down this morning and the three major indexes have stayed within a few points of flat all day. The NASDAQ composite has remained in positive territory as the technology sector has benefited from a sharp buying trend in solar stocks. The EIA’s weekly petroleum report came in with a crude build of 5 million barrels, way above an expected gain of 1 million barrels. The report weighed on energy stocks since mid-morning. The euro has also been weaker today, adding a bit of push to equity buying. Crude oil is ending the day down, with WTI crude down about -1.3% at $100.92/barrel and Brent crude is down 0.64% at $112.55/barrel. Gold closed higher, at $1,640.50/ounce, after posting a four-week high earlier today.

The unofficial closing bells put the DJIA down more than 13 points to 12,449.08 (-0.11%), the NASDAQ rose more than 8 points (0.31%) to 2,710.76, and the S&P 500 rose 0.03% or less than 1 point to 1,292.44.

There were several analyst upgrades and downgrades today, including Alcatel-Lucent, S.A. (NYSE: ALU) raised to ‘buy’ at Deutsche Bank; WebMD Health Corp. (NASDAQ: WBMD) cut to ‘market perform’ at Wells Fargo; Urban Outfitters Inc. (NASDAQ: URBN) cut to ‘sell’ at Citigroup; Ralph Lauren Corp. (NYSE: RL) cut to ‘market perform’ at Wells Fargo; and American Water Works Co. Inc. (NYSE: AWK) raised to ‘buy’ at Ladenburg Thalmann.

Earnings reports since markets closed yesterday have led to some price changes: Lennar Corp. (NYSE: LEN) is up 6.3% at $22.07 after posting a new 52-week high of $22.53 earlier today; Supervalu Inc. (NYSE: SVU) is down nearly -13% at $7.33; Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is up more than 5.5% at $2.65; SemiLEDS Corp. (NASDAQ: LEDS) is more than 5% at $3.69; and Synnex Corp. (NYSE: SNX) is up more than 8% at $34.80.

Other standouts from today include the following stocks:

JA Solar Holdings Co. Ltd. (NASDAQ: JASO) is up more than 37% at $1.97. The Chinese solar maker is among several Chinese solar companies getting a boost today from news that solar panel prices appear to be stabilizing. We have more coverage here.

YRC Worldwide Inc. (NASDAQ: YRCW) is up nearly 16% at $11.38. The transportation company has said it will auction 62 of its surplus US sites.

Crocs Inc. (NASDAQ: CROX) is up more than 17% at $18.73. The funny-shoe company has estimated that sales in the current fiscal year will top $1 billion for the first time.

Hecla Mining Co. (NYSE: HL) is down about -22% at $4.55, after posting a new 52-week low of $4.25 earlier today. The silver miner has lowered its production estimate due to a forced closure of a shaft at its Nevada mine.

Hill-Rom Holdings Inc. (NYSE: HRC) is down nearly -12% at $30.45. The medical equipment maker and services provider lowered fourth-quarter and full-year guidance last night.

Stay tuned for Thursday. Here are the noteworthy events on the schedule (all times Eastern):

8:30 a.m. – Initial unemployment benefits claims report
8:30 a.m. – Census Bureau retail sales report
10:00 a.m. – Census Bureau business inventories report
10:30 a.m. – EIA weekly natural gas status report
1:00 p.m. – 30-year bond auction
2:00 p.m. – US Treasury budget
4:30 p.m. – Federal Reserve balance sheet

Paul Ausick

Filed under: HI/LOW, Market Close, The Day Tagged: ALU, AWK, CROX, HL, HRC, JASO, LEDS, LEN, RL, SHIP, SNX, SVU, URBN, WBMD, YRCW

Morning Movers (DLA, URBN, HL, SVU, P)

Paul Ausick — Wed, 11 Jan 2012 15:19:56 +0000

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Delta Apparel Inc. (NYSE: DLA), Urban Outfitters Inc. (NASDAQ: URBN), Hecla Mining Co. (NYSE: HL), Supervalu Inc. (NYSE: SVU), and Pandora Media Inc. (NYSE: P).

Delta Apparel is down more than -26% at $14.08. Volume is already more than double the daily average. The clothes maker lowered guidance this morning..

Urban Outfitters is down more than -19% at $23.80. Volume is already double the daily average. The clothing retailer’s CEO has resigned.

Hecla Mining is down nearly -23% at $4.51, a new 52-week low. Volume is already nearly equal to the daily average. The company has lowered its silver production forecast from 9.5 million ounces to 7 million ounces following an order from a federal regulator to close one of its shafts.

Supervalu is down more than -10% at $7.52. Volume is heavy, with more than half the daily average number of shares already traded. The supermarket company missed revenue expectations this morning and has lowered guidance.

Pandora Media is up more than 6% at $12.19. Volume has already surpassed the daily average. The Internet radio company has announced that it has deals with 23 automakers and more than 450 consumer electronics companies to carry its programming.

Paul Ausick

Filed under: Market Open, Market Roundups, The Day Tagged: DLA, HL, P, SVU, URBN

24/7 Wall St. Closing Bell (INTC, NFLX, SBUX, DIS, M, AA, ELX, BSDM, SNX, LEN, SVU, WBMD, GNOM, IDIX, TIF, LIZ)

Paul Ausick — Tue, 10 Jan 2012 21:07:07 +0000

US equities opened strongly this morning and managed to maintain solid gains throughout the day. The in-line earnings report last night from Alcoa Inc. (NYSE: AA) and higher commodity prices — based on a weaker dollar — led markets higher in the morning. The S&P 500 posted a new five-month high just before noon today. Today’s auction of 3-year Treasuries was strong, with the highest demand for dollars since May 2010. Volumes were not as heavy as might have been expected though. Crude oil is higher today, with WTI up 0.88% at $102.20/barrel and Brent up 0.64% at $113.17/barrel. Gold is also up more than $26, at $1,634.50.

The unofficial closing bells put the DJIA up nearly 70 points to 12,462.47 (0.56%), the NASDAQ rose nearly 26 points (0.97%) to 2,702.50, and the S&P 500 rose 0.89% or more than 11 points to 1,292.08.

There were several analyst upgrades and downgrades today, including Intel Corp. (NASDAQ: INTC) maintained as ‘top tech/semiconductor’ pick at Credit Suisse; Netflix Inc. (NASDAQ: NFLX) cut from ‘neutral’ to ‘underperform’ at BofA/ML; Starbucks Corp. (NASDAQ: SBUX) reiterated as ‘buy’ and estimates raised at Argus; The Walt Disney Co. (NYSE: DIS) cut to ‘equal-weight’ at Barclays; and Macy’s Inc. (NYSE: M) reiterated as ‘outperform’ and price target raised from $32 to $36 at Credit Suisse.

Earnings reports of note since markets closed yesterday include: Alcoa is up 0.27% at $9.45; Emulex Corp. (NYSE: ELX) is up more than 13% at $8.38; and BSD Medical Corp. (NASDAQ: BSDM) is down more than -7% at $2.09. After markets close today Synnex Corp. (NYSE: SNX) reports earnings and tomorrow’s earnings schedule includes Lennar Corp. (NYSE: LEN) and Supervalu Inc. (NYSE: SVU).

Other standouts from today include the following stocks:

WebMD Health Corp. (NASDAQ: WBMD) is down more than -28% at $26.41, after posting a new 52-week low of $25.01 earlier today. The web-based healthcare company’s CEO resigned, the search for an acquirer was terminated, and the revenue outlook for 2012 was lowered.

Complete Genomics Inc. (NASDAQ: GNOM) is down nearly -26% at $2.88. The biotechnology company shipped fewer genomes than expected in the fourth quarter.

Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is up more than 25% at $12.10, a new 52-week high. The drug maker continues to bask in the reflected glow of yesterday’s takeover of Inhibitex Inc. (NASDAQ: INHX) by Bristol Myers Squibb (NYSE: BMY).

Tiffany & Co. (NYSE: TIF) is down more than -10% at $59.97. The company reported weak earnings and a lower forecast this morning.

Liz Claiborne Inc. (NYSE: LIZ) is down more than -13% at $8.63. The clothing company’s CFO resigned and the company lowered 2012 revenue estimates.

Stay tuned for Wednesday. Chicago Fed President Charles Evans, Atlanta Fed President Dennis Lockhart, and Philadelphia Fed President Charles Plosser are giving speeches. Here are the noteworthy events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 10-year Treasury note auction
2:00 p.m. – Federal Reserve Beige Book released

Paul Ausick

Filed under: HI/LOW, Market Close, The Day Tagged: AA, BSDM, DIS, ELX, GNOM, IDIX, INTC, LEN, LIZ, M, NFLX, SBUX, SNX, SVU, TIF, WBMD

24/7 Wall St. Closing Bell (AMZN, CAM, MPEL, NVDA, SVU, RF, DDS, DHI, BONE, CDTI, HHC, PNS, ALIM, PSDV, MCP, HOVNP, TRX)

Paul Ausick — Fri, 11 Nov 2011 21:08:57 +0000

The markets got off to a strong start this morning, and stayed that way throughout the day. The dollar weakened against the euro and yen as currency traders seem to believe that a solution to the mess in Europe is getting nearer. Trading volume has been moderate today, perhaps due to the bond market holiday. Gold closed at $1,788.10/ounce, up 1.6% and silver closed near $34.69/ounce, up 1.7%. Crude oil settled within just below $99/barrel, its highest point in about three months.

The unofficial closing bells put the DJIA up more than 259 points to 12,153.46 (2.18%), the NASDAQ rose more than 53 points (2.04%) to 2,678.75, and the S&P 500 rose 1.95% or more than 24 points to 1,263.85.

There were several analyst upgrades and downgrades today, including Amazon.com Inc. (NASDAQ: AMZN) started as ‘neutral’ at Nomura. Other changes included Cameron International (NYSE: CAM) reiterated ‘buy’ with $73 target at BofA/ML; Melco Crown Entertainment Ltd. (NASDAQ: MPEL) maintained ‘neutral’ but cut target to $14 at JPMorgan; NVIDIA Corporation (NASDAQ: NVDA) reiterated ‘buy’ with $18 target at BofA/ML; SUPERVALU Inc. (NYSE: SVU) reinstated as ‘neutral’ at BofA/ML; and Regions Financial Corporation (NYSE: RF) started as ‘outperform’ at BMO Capital.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Dillard’s Inc. (NYSE: DDS) is down more than -13%, at $47.91; D.R. Horton, Inc. (NYSE: DHI) is down more than -2%, at $11.42; Bacterin International Holdings, Inc. (NASDAQ: BONE) is up more than 6%, at $2.90; Clean Diesel Technologies, Inc. (NASDAQ: CDTI) is down more than -3.5%, at $3.45; and The Howard Hughes Corp. (NYSE: HHC) is up more than 2.5%, at $47.25.

Several other standouts from today are as follows…

Pinnacle Data Systems Inc. (AMEX: PNS) is up more than 105%, at $2.36. The company has accepted a takeover offer from Avnet, Inc. (NYSE: AVT) worth $2.40/share.

Alimera Sciences, Inc. (NASDAQ: ALIM) is down nearly -74%, at $1.94. The company failed to get FDA approval for its eye pain drug.

pSivida Corp. (NASDAQ: PSDV) is down more than -46%, at $2.11. The company had licensed to Alimera an element of the drug that failed the FDA test.

Molycorp, Inc. (NYSE: MCP) is down more than -13%, at $33.43. The company missed earnings and revenue estimates.

Hovnanian Enterprises Inc. (NASDAQ: HOVNP) is down more than -9%, at $1.40. The company did not have any news today, but likely suffered from the earnings report from D.R. Horton.

Tanzanian Royalty Exploration Corp. (AMEX: TRX) is up more than 20%, at $2.75. The company’s shares were halted earlier, and the company issued a statement that there was no particular event responsible for the heavy trading in the stock.

Except for short-term Treasury Bill auctions, there are no events scheduled for Monday.

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ALIM, AMZN, BONE, CAM, CDTI, DDS, DHI, HHC, HOVNP, MCP, MPEL, NVDA, PNS, PSDV, RF, SVU, TRX

Top Analyst Upgrades & Downgrades (AMZN, AMAT, SAM, CAM, CIM, GNW, MHR, MPEL, NVDA, PKD, PLSX, RF, SVU, UTHR, ZMH)

Administrator — Fri, 11 Nov 2011 13:21:17 +0000

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

Amazon.com Inc. (NASDAQ: AMZN) Started as Neutral at Nomura.
Applied Materials Inc. (NASDAQ: AMAT) Started as Neutral with $13 target at Credit Suisse.
Boston Beer Company (NYSE: SAM) named Momentum stock of the day at Zacks.
Cameron International (NYSE: CAM) Reiterated Buy with $73 target at BofA/ML.
Chimera Investment Corporation (NYSE: CIM) Raised to Neutral at Stern Agee.
Genworth Financial Inc. (NYSE: GNW) Raised to Neutral at Citigroup.
Magnum Hunter Resources (NYSE: MHR) reiterated Buy and raised target to $8.00 at Canaccord Genuity.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) maintained Neutral but cut target to $14 at JPMorgan.
NVIDIA Corporation (NASDAQ: NVDA) Reiterated Buy with $18 target at BofA/ML.
Parker Drilling Company (NYSE: PKD) named value stock of the day at Zacks.
Plexus Corporation (NASDAQ: PLXS) named Bear of the Day at Zacks.
Regions Financial Corporation (NYSE: RF) Started as Outperform at BMO Capital.
SUPERVALU Inc. (NYSE: SVU) Reinstated as Neutral at BofA/ML.
United Therapeutics (NASDAQ: UTHR) Raised to Outperform as Bull of the Day as Zacks.
Zimmer Holdings Inc. (NYSE: ZMH) Cut to Hold at Argus.

JON C. OGG

Filed under: Analyst Calls Tagged: AMAT, AMZN, CAM, CIM, GNW, MHR, MPEL, NVDA, PKD, PLSX, RF, SAM, SVU, UTHR, ZMH