24/7 Wall St. » TEX

Top Analyst Upgrades & Downgrades (AIZ, CERN, CHK, LFC, COP, FLEX, GNW, HLF, RSH, STM, TEX)

Administrator — Wed, 02 May 2012 12:10:29 +0000

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

Assurant Inc. (NYSE: AIZ) Cut to Underperform at BofA/ML.

Cerner Corporation (NASDAQ: CERN) named as Bull of the Day at Zacks.

Chesapeake Energy Corporation (NYSE: CHK) Cut to Neutral at R.W. Baird.

China Life Insurance (NYSE: LFC) named Bear of the Day at Zacks.

ConocoPhillips (NYSE: COP) Cut to Underperform at BofA/ML; Started as Overweight at JPMorgan.

Flextronics International Ltd. (NASDAQ: FLEX) Raised to Neutral at BofA/ML.

Genworth Financial (NYSE: GNW) Raised to Neutral at BofA/ML.

Herbalife Ltd. (NYSE: HLF) Raised to Buy at Auriga.

RadioShack (NYSE: RSH) Cut to Underweight at Morgan Stanley.

STMicroelectronics NV (NYSE: STM) Raised to Buy at Goldman Sachs; Raised to Neutral at Citigroup.

Terex Corporation (NYSE: TEX) Started as Outperform at Credit Suisse.

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: AIZ, CERN, CHK, COP, FLEX, GNW, HLF, LFC, RSH, STM, TEX

Today’s Best Market Rumors (6/16/2011) Greek Government, Demag Cranes

247wallst — Thu, 16 Jun 2011 12:37:46 +0000

Updated throughout the day.

The board of Demag Cranes has approved a buyout by Terex (NYSE: TEX) (Reuters)

The prime minister of Greece will form a new cabinet (FT)

Douglas A. McIntyre

Filed under: Rumors Tagged: TEX

Bucyrus Buyout: Flurry of Sector Interest (BUCY, CAT, JOYG, TEX, MTW)

Administrator — Mon, 15 Nov 2010 13:34:38 +0000

The day has come for Bucyrus International Inc. (NASDAQ: BUCY). Caterpillar Inc. (NYSE: CAT) has announced that it will expand its mining equipment operations and product offerings with the acquisition of Bucyrus. The deal is valued at $8.6 billion after the inclusion of debt. Bucyrus shareholders will receive $92.00 per share, which is about $7.6 billion in aggregate consisting of all cash in a deal representing a 32% premium to Friday’s close.

Caterpillar will fund the acquisition through a combination of cash from the balance sheet, debt and up to $2 billion in equity. Caterpillar has noted that its mining customers have been asking it to expand the range of products and services to better serve their increasingly complex requirements.

Bucyrus is soaring by almost 30% at $90.35 in active trading. What is interesting is that investors are treating this potentially as the first of several consolidation prospects in the mining equipment sector. If you look at the Bucyrus competitors and others in the mining equipment space, the moves speak for themselves:

Joy Global, Inc. (NASDAQ: JOYG) is indicated up over 7% at $77.88; the 52-week range is (was) $42.45 to $76.72.

Terex Corp. (NYSE: TEX) is up over 8% at $26.40; its 52-week range is $16.79 to $28.71.

Manitowoc Co. Inc. (NYSE: MTW) is up over 4% at $11.67; its 52-week range is $8.48 to $16.43.

Bucyrus designs and makes equipment for mining of coal, copper, oil sands, iron ore, and other minerals in mining centers worldwide. The deal is apparently the largest of Caterpillar’s of the sort, although this is an easy integration for the company as Caterpillar had a market cap in excess of $48 billion. Caterpillar shares are down 1.9% at $79.47 versus a 52-week range of $50.50 to $83.84.

JON C. OGG

Filed under: Agriculture, Mergers and Buy Outs, Metals Tagged: BUCY, CAT, JOYG, MTW, TEX

Top Analyst Upgrades & Downgrades (AU, CIM, EMC, GOOG, MRVL, SPR, TNK, TEX, VRSN)

Administrator — Wed, 07 Jul 2010 12:31:14 +0000

These are some of this Wednesday’s top analyst research calls for upgrades, downgrades, and initiations:

AngloGold Ashanti Ltd. (NYSE: AU) Cut to Underperform at Credit Suisse.
Chimera Investment Corp. (NYSE: CIM) Started as Buy at Jefferies.
EMC Corp. (NYSE: EMC) Raised to Outperform at Oppenheimer.
Google Inc. (NASDAQ: GOOG) Cut estimates and Target (to $566 from $639) at JPMorgan.
Marvell Technology Group, Ltd. (NASDAQ: MRVL) Started as Neutral (late yesterday).
Spirit Aerosystems (NYSE: SPR) Raised to Buy at UBS.
Teekay Tankers Ltd. (NYSE: TNK) Started as Outperform at Oppenheimer.
Terex Corp. (NYSE: TEX) Cut to Hold at KeyBanc.
VeriSign Inc. (NASDAQ: VRSN) Raised to Outperform at Oppenheimer.

JON C. OGG

Filed under: Analyst Calls Tagged: AU, CIM, EMC, GOOG, MRVL, SPR, TEX, TNK, VRSN

Pabrai’s Newest Stocks (ATSG, BRK-B, BPO, GS, HNR, ZINC, IBKR, ICO, LUK, PNCL, POT, TCK, TEX, WFC)

Administrator — Mon, 17 May 2010 19:31:10 +0000

Mohnish Pabrai is often thought of as a Warren Buffett-like investor when it comes to some investment philosophies. The fact that he has won the bidding for lunch with Warren Buffett has helped to add in that state of mind by the public. But Pabrai is also a value investor in much of his efforts and investors in the past have looked at his holdings when doing research. Today came his holdings on the as-of date of March 31, 2010 in a 13F filing as of worth a total of $332.8 million.
Air Transport Services Group, Inc. (NASDAQ: ATSG) 5,380,962 shares worth $18.02 million.

Berkshire Hathaway Inc. (NYSE: BRK-B) 319,851 shares worth almost $26 million.

Brookfield Properties Corporation (NYSE: BPO) 2,359,166 shares worth $36.2 million.

Goldman Sachs Group Inc. (NYSE: GS) 110,864 shares worth some $18.9 million.

Harvest Natural Resources Inc. (NYSE: HNR) 4,771,814 shares worth about $35.9 million.

Horsehead Holding Corp. (NASDAQ: ZINC) 1,358,498 shares worth $16 million.

Interactive Brokers Group, Inc. (NASDAQ: IBKR) 94,104 shares worth $1.5 million.

International Coal Group, Inc. (NYSE: ICO) 2,512,570 shares worth almost $11.5 million.

Leucadia National Corp. (NYSE: LUK) 791,074 shares worth $19.6 million.

Pinnacle Airlines Corp. (NASDAQ: PNCL) 2,002,902 shares worth $14.9 million.

Potash Corp. of Saskatchewan (NYSE: POT) 331,603 shares worth $39.5 million.

Teck Resources Ltd. (NYSE: TCK) 5,501 shares worth $245K…

Terex Corp. NYSE: TEX) 530,876 shares worth $12 million.

Wells Fargo & Co. (NYSE: WFC) 374,415 shares worth $11.6 million.

Other holdings are as follows:

Capital Source Inc. (?)
Cresud S A (CRESY)
FAIRFAX FINL HLD SUB (FRFHF.PK)

JON C. OGG

Filed under: Activist Investor, Mutual Funds, Value Investing Tagged: ATSG, BPO, BRK-B, GS, HNR, IBKR, ICO, LUK, PNCL, POT, TCK, TEX, WFC, ZINC

Top Analyst Downgrades (ARMH, CHU, ERIC, EXPE, GGG, MTB, SNE, TEX)

247wallst — Thu, 19 Mar 2009 11:30:43 +0000

These are the top downgrades and negative research calls we have seen so far from Wall Street analysts this Thursday morning:

Arm Holdings (ARMH) Cut to Neutral at Goldman Sachs.
China Unicom Hong Kong (CHU) Cut to Equal Weight at Morgan Stanley.
Ericsson (ERIC) Cut to Market Perform at Bernstein.
Expedia (EXPE) Cut to Neutral at JPMorgan.
Graco Inc. (GGG) Cut to Underperform at Baird.
M&T Bank (MTB) Cut to Hold at Citigroup.
Sanofi-Aventis (SNE) Reiterated as Underperform at Jefferies.
Terex (TEX) Cut to Masrket Perform at Wachovia.

JON C. OGG

Posted in Analyst Calls Tagged: ARMH, CHU, ERIC, EXPE, GGG, MTB, SNE, TEX

Top Analyst Upgrades & Downgrades (ADPT, CBST, FLIR, MA, TEX, LXK, MCXH, V, XRX, ZRAN)

247wallst — Fri, 20 Feb 2009 13:18:11 +0000

These are the top pre-market analyst upgrades and downgrades we have seen from Wall Street this Friday morning:

Adaptec (ADPT) Raised to Outperform at Morgan Keegan.
Cubist Pharamceuticals (CBST) Started as Accumulate at ThinkEquity.
FLIR Systems (FLIR) Raised to Overweight at JPMorgan.
MasterCard (MA) Started as Outperform at Baird.
Terex (TEX) Raised to Outperform at Wachovia.
Lexmark (LXK) Cut to Underweight at Barclays.
Marchex (MCHX) downgraded at Thomas Weisel and at JMP Securities.
Visa (V) Started as Neutral at Baird.
Xeros (XRX) Cut to Equal Weight at Barclays.
Zoran (ZRAN) Cut to Underweight at JPMorgan.

JON C. OGG
February 20, 2009

Posted in Analyst Calls Tagged: ADPT, CBST, FLIR, LXK, MA, MCXH, TEX, V, XRX, ZRAN

Top Pre-Market Analyst Downgrades (ADBE, AGU, CMI, INTU, MOS, NST, PENN, CRM, SCG, SGP, SYMC, TEX, XRTX)

247wallst — Fri, 03 Oct 2008 06:38:27 +0000

These are the top analyst downgrade calls we are seeing this Friday morning with two hours to the open:

Adobe Systems (ADBE) Cut to Sell at UBS.
Agrium (AGU) Cut to Hold at Canaccord.
Cummins Inc. (CMI) Cut to Market Perform at Wachovia.
Intuit (INTU) Cut to Sell at UBS.
Mosaic (MOS) Cut to Hold at Canaccord.
Nstar (NST) Cut to Neutral at Merrill Lynch.
Penn National Gaming (PENN) Cut to Hold at Deutsche Bank.
Salesforce.com (CRM) Cut to Sell at UBS.
Scana (SCG) Cut to Underperform at Merrill Lynch.
Schering-Plough (SGP) Cut to Underperform at Merrill Lynch.
Symantec (SYMC) Cut to Neutral at UBS.
Terex Corp. (TEX) Cut to Market Perform at Wachovia.
Trimble Navigation (TRMB) Cut to Perform at Oppenheimer.
Xyratex (XRTX) Cut to Market Perform at FBR.

Jon C. Ogg
October 3, 2008

Posted in Analyst Calls Tagged: ADBE, AGU, CMI, CRM, INTU, MOS, NST, PENN, SCG, SGP, SYMC, TEX, XRTX

The 52-Week Low Club 9/4/2008 (TEX)(HL)(MTW)(CIEN)(VRSN)

247wallst — Thu, 04 Sep 2008 14:44:32 +0000

Terex Corporation (TEX) Bad guidance. Drops to $37.12 from 52-week high of $91.21.

Hecla Mining (HL) Price of silver down. Sells off to $5.79 from 52-week high of $13.14.

The Manitowoc Company (MTW) Hurt by drop in Terex. Dips to $21.62 from 52-week high of $51.49.

Ciena (CIEN) Weak guidance. Plunges to $13 from 52-week high of $49.55.

Verisign (VRSN) Some investors still unhappy with last quarter’s numbers. Falls to $28.15 from 52-week high of $42.50.

Douglas A. McIntyre

S&P Small Cap 600 Index Changes Worth Noting (ONB, ASVI, TEX, PQ, HH)

247wallst — Wed, 20 Feb 2008 18:05:24 +0000

Standard & Poors is making some key changes to its S&P Small Cap 600 Index. The following additions and deletions will take after the close of trading on Monday, February 25, 2008:

Old National Bancorp (NYSE: ONB) will replace A.S.V. Inc. (Nasdaq: ASVI), which is being acquired by Terex Corp. (NYSE: TEX). Old National Bancorp closed up 3.7% today at $16.15, and its 52-week trading range is $12.99 to $19.45. A banking stock in this environment, with more than a 5% dividend yield.
PetroQuest Energy Inc. (NYSE: PQ) will replace Hooper Holmes Inc. (AMEX: HH), because Hooper had a market cap of a mere $59 million and S&P likes to have a $300 million million market cap to be maintained. PetroQuest surged almost 7.5% today in regular trading after earnings topped views, and shares were up another 3.7% to $14.89 after the index add. Its 52-week trading range is $10.02 to $15.99 and its market cap at the close was $708 million.

While the S&P Small Cap 600 Index is less tracked than the S&P 500 Index, this index is one we like to track because when companies come in for the first time onto the Small Cap Index it represents what would be deemed "virgin index Buying" because the funds that track the various S&P indexes do not currently hold these stocks as of yet if they track index performance.

Jon C. Ogg
February 20, 2008