Posts for Ticker ‘TECD’

Top Day Trader Alerts (SEED, YONG, FEED, CEPH, TECD, DDRX, GMCR)

These are this morning’s top day trader and active trader alert stocks seen.  We have more detailed analysis and data on each stock story with links over to VSInvestor.com:

Origin Agritech Limited (NASDAQ: SEED) is today’s top gainer on genetically modified phytase corn approval.

  • Yongye International, Inc. (NASDAQ: YONG) and AgFeed Industries, Inc. (NASDAQ: FEED) are chasing the stock on the news.

Cephalon Inc. (NASDAQ: CEPH) is down on missing trial endpoints.

Tech Data Corp. (NASDAQ: TECD) is hitting 52-week highs after earnings.

Diedrich Coffee, Inc. (NASDAQ: DDRX) is soaring on a superior buyout offer from Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) over the old Peet’s Coffee & Tea, Inc. (NASDAQ: PEET) bid.

Late Friday afternoon we ran a “unusual stock options trading bit” which so far have not seen follow-through.

You can join our open email distribution list to hear more news on key analyst calls, top day trader alerts, mergers and acquisitions, Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Posted on: November 23, 2009 – 9:06 am in Pre-Market Activity, Trading Alert, , , , , , ,

Next Week’s Top 10 Earnings on Deck (HPQ, TSN, CPB, LDK, TECD, BKS, BGP, JCG, DLTR, DE)

Earnings season has mostly wound down, but as always at least some major companies are reporting earnings.  Some are actually market-movers as well and it is a short week with earnings out only Monday and Tuesday, with a few on Wednesday.  On deck are Hewlett-Packard Company (NYSE: HPQ), Tyson Foods Inc. (NYSE: TSN), Campbell Soup Co. (NYSE: CPB), LDK Solar Co. Ltd. (NYSE: LDK), Tech Data Corp. (NASDAQ: TECD), Barnes & Noble, Inc. (NYSE: BKS), Borders Group, Inc. (NYSE: BGP), J. Crew Group, Inc. (NYSE: JCG), Dollar Tree Inc. (NASDAQ: DLTR), and Deere & Co. (NYSE: DE).

We have included estimates from Thomson Reuters, relative data on peers and recent developments, and relative performance on each where it was applicable.
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Posted on: November 20, 2009 – 1:19 pm in Calendar, Earnings, , , , , , , , , ,

Ingram Micro, Skydiving Without A Parachute (IM, TECD)

Ingram_micro_logo_2Ingram Micro (NYSE: IM) is trading down about 7% pre-market after the company warned about its results ahead.  The technology product distribution company noted that soft economies globally are going to keep it from meeting its quarterly financial targets.

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Posted on: September 16, 2008 – 7:56 am in Earnings, Technology Companies, ,

Stock Buybacks This Week (TROW, TECD, TRI, CTS)

This week was pretty light in the week of share repurchase announcements, and most of these were mere add-on buybacks to existing plans.  Here are some of the plan additions announced this week:

  • T. Rowe Price (NASDAQ: TROW) added 15 million shares of stock to its existing buyback plan, close to 6% of its outstanding stock.
  • Tech Data (NASDAQ: TECD) announced $100 million for share buybacks, in addition to its existing plan.  Its market cap is almost $2 Billion, so about 5% of its outstanding stock.
  • One interesting buyback came from Thomson Reuters (NYSE: TRI), which added $500 million to its buybacks.  While this is technically an add-on plan, it is after the Reuters and Thomson merger.
  • A small announcement came from CTS Corp. (NYSE: CTS), which announced it would repurchase up to 1 million shares of common stock.  That is only about $11 million in today’s dollars and its market cap is $365 million.

It seems that share buybacks are getting less and less on the new buyback plans, but that may be dual-imposed function.  The first and obvious cause for the lack of new share buybacks is that this was the most in-vogue announcement that a company could make in 2006 and 2007 with each year seeing massive amounts of cash used to return stock and return capital to shareholders.  The more pressing issue however may be the obvious in that companies may realize they need to start hording cash for what lies ahead.

Some traders prefer share buybacks and some do not.  To 247WallSt.com they make plenty of sense if the buyback is used as a stabilizing factor in volatile times.  But when companies keep buying back stock if there shares are under no pressure we frequently think they are trying to juice their internal EPS growth or that they can’t find many good alternatives for growth.  Obviously that isn’t always the case.

Jon C. Ogg
June 6, 2008

Posted on: June 6, 2008 – 10:58 am in Stock Buybacks, , , ,

Ingram Micro Catches A Goldman Sachs Upgrade (IM, TECD)

Ingram Micro Inc. (NYSE: IM) is seeing a valuation upgrade from Goldman Sachs this morning.  It is being added to the Americas Buy List (after a neutral) after recent weakness is showing an opportunity to build positions at what it is referring to as "trough valuation levels."

Goldman Sachs also noted that it expects fundamental strength across all geographies here to drive strong revenue and earnings growth in the December quarter and in 2008.  The research notes that Ingram Micro is down some 16% since early November on no real fundamental news, leaving the distributor at 9-times the Goldman Sachs calendar EPS target of $1.97.

Goldman Sachs sees this stock at $24 over the next 12 months.  This closed at $17.80 Wednesday and the 52-week trading range is $17.67 to $22.50.

We perused through First Call data and it appears that Wall Street analysts have a consensus target closer to $25 and a 2008 EPS target of $1.96, so this upgrade isn’t calling for anything that would be outlandish for a crowd of analysts.  Wall Street uses Tech Data (NASDAQ:TECD) as the comparison stock here and the valuations at Tech Data are much higher, although we would caution that there are more overlaps in more areas of the companies than a head to head comparison.

Jon C. Ogg
January 3, 2008

Posted on: January 3, 2008 – 7:31 am in Analyst Calls, Technology Companies, ,

Pre-Market Stock News (November 27, 2007)

Below is a snapshot of much of the pre-market news moving individual stocks this morning:

  • Activision (ATVI) raised guidance on Guitar Hero III sales; stock up 8% pre-market.
  • Barrier Therapeutics (BTRX) announced positive results of higher dose escalation clinical safety study with pramiconazole.
  • Casual Male (CMRG) indicated lower after missing earnings and guiding lower.
  • CIGNA (CI) is acquiring Great-West Healthcare for $1.5 Billion.
  • Citigroup (C) sold a $7.5 Billion stake to Abu Dhabi Fund.
  • GlobalSantaFe (GSF) has received a subpoena from the SEC seeking documents related to the company’s ongoing internal investigation.
  • Hydrogenics (HYGS) received a $1.7 million order for three fuel cell hybrid MiniBuses for an Expo in Spain.
  • Osiris Therapeutics (OSIR) announced positive one-year data from Chondrogen trial for knee repair in its preparation of adult stem cells formulated for direct injection into the knee.
  • Penford Corp (PENX) announced a 2 Million share common stock offering, although this was under the existing shelf offering.
  • Pharmacopeia (PCOP) and GlaxoSmithKline identified two new additional lead compounds that will trigger milestone payment of $1 million to Pharmacopeia.
  • Qiao Xing (XING) telegraphss medium and long-term business plans and will continue to take steps to ensure growth of 20% to 30% per year for the next 5-years.
  • Sepracor (SEPR) announced the completion of its SEC investigation and no enforcement action was recommended.
  • Smith & Nephew (SNN) announces precautionary knee recall.
  • Staples (SPLS) $0.42 EPS vs $0.40 est.
  • Tech Data (TECD) $0.73 EPS vs $0.60 est. (unsure if comparable) sales guidance for Q4 looks a tad light.
  • Tenet Healthcare (THC) entered into a new national insurance coverage agreement with UnitedHealthcare (UNH).

Jon C. Ogg
November 27, 2007

Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: November 27, 2007 – 8:14 am in Pre-Market Activity, , , , , , , , , , , , , , , ,

Stock Buybacks For September 5, 2007 (TECD, RJET, PFIN, IIG, MNST, EXC)

This is not necessarily a full list of all the buyback announcements, but this is a partial list.  Today’s buyback announcements and updates are first, and yesterday’s are listed at the end.

Tech Data (NASDAQ:TECD) announced a $100 million buyback plan, versus a $2.1 Billion market cap.  The company’s share repurchases will be made on the open market, through block trades or otherwise. The amount of shares purchased and the timing of the purchases will be based on working capital requirements, general business conditions and other factors, including alternative investment opportunities. The company intends to hold the repurchased shares in treasury for general corporate purposes, including issuance under employee equity compensation plans.

Republic Airways Holdings (NASDAQ:RJET), announced (as part of its $100 million Existing buyback plan) that it has agreed to purchase  2,000,000 shares of its Common Stock from WexAir LLC, the company’s former majority stockholder, at a price of $19.20 per share, for total consideration of $38,400,000.  RJET stock closed at $19.06 today.

P&F Industries, Inc. (NASDAQ:PFIN) announced that its Board of Directors has extended the time it may purchase shares of Class A Common Stock under its share repurchase program by an additional year to September 30, 2008. The Company is authorized to purchase up to 150,000 shares remaining pursuant to such share repurchase program.

iMergent, Inc. (AMEX:IIG), after its earnings, increased its stock repurchase program from $20 Million to $70 Million over the next 5 years.

Noven Pharmaceuticals, Inc. (NASDAQ:NOVN) today announced that its Board of Directors has approved a share repurchase program authorizing the company to repurchase up to $25 million of the company’s common stock. The repurchase program is effective immediately.

YESTERDAY’S SHARE BUYBACK ANNOUNCEMENTS

Monster Worldwide (NASDAQ:MNST) today announced that its Board of Directors has approved an increase to its share repurchase program. It is now authorized to purchase an additional $250 million of its shares of common stock in the open market or otherwise from time to time over a 12 month period, as conditions warrant.  This new authorization follows the existing $100 million share repurchase program, which has now been substantially utilized.

Exelon Corporation (NYSE:EXC) on Monday announced new guidance 2007 EPS of $4.15 to $4.30 per share. Exelon’s original operating earnings guidance range was $4.00 to $4.30. AND that its board of directors has approved a share repurchase program for up to $1.25 billion of its outstanding common stock. Exelon expects to complete the share repurchase program within the next six months.

If you would like to delve further into share buybacks we have covered you can see a partial index of what we have covered.

Jon C. Ogg
September 5, 2007

Posted on: September 5, 2007 – 4:55 pm in Stock Buybacks, , , , , ,