Posts for Ticker ‘TIBX’

Stocks Trading On Heavy Volume Or Price (RIMM)(TIBX)(UCBI)(ALTH)

According to the watch list at Volume Spike Investor several stocks are making large moves before the open.

The most substantial activity is in RIM (RIMM)   Tibco (TIBX)  United Community Banks (UCBI)  and Allos (ALTH).

Douglas A. McIntyre

Mini Earnings Season on Deck Thursday (PALM, ACN, MU, LEN, CAG, FINL, JTX, TIBX)

Money Stack ImageThursday is shaping up to be a miniature one-day version earnings season this week.  This is likely the last of the major earnings reports we’ll see for another three or four weeks until the real earnings season for Q2-2009 kicks off.  On deck are the likes of Palm Inc. (NASDAQ: PALM), Accenture Ltd. (NYSE: ACN), Micron Tech Inc. (NYSE: MU), Lennar Corporation (NYSE: LEN), ConAgra Foods, Inc. (NYSE: CAG), Finish Line (NASDAQ: FINL), Jackson Hewitt Tax Service Inc. (NYSE: JTX), and TIBCO Software Inc. (NASDAQ: TIBX).  Below are preview summaries for each company’s expectations and supporting notes.
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Top 10 Pre-Market Analyst Upgrades & Downgrades (MO, STZ, LVS, LYV, RF, AXP, CMS, DELL, SOLR, TIBX)

These are the top ten early bird upgrades and downgrades we have seen this Thursday morning with about two hours until the open:

  • Altria (MO) Raised to Neutral from Sell at Banc of America.
  • Constellation Brands (STZ) Raised to Buy at UBS.
  • Las Vegas Sands (LVS) Raised to Neutral from Sell at Banc of America.
  • Live Nation (LYV) Raised to Strong Buy at S&P Equity Research.
  • Regions Financial (RF) Raised to Buy at Ladenburg Thalman.
  • American Express (AXP) Started as Underperform at Jefferies.
  • Comerica (CMA) Cutto Hold at Deutsche Bank.
  • Dell (DELL) added to Goldman Sachs Conviction Sell List.
  • GT Solar (SOLR) Cut to Underperform at Jefferies.
  • TIBCO Software (TIBX) Cut to Underperform at Jefferies.

Jon C. Ogg
November 13, 2008

Early-Bird Technology Upgrades & Downgrades (ARMH, FFIV, MFE, MOT, NOK, NOVL, QCOM, TIBX)

These are the earl-bird upgrades and downgrades we are seeing in Telecom, Tech, and I.T. on this Friday morning with about two and a half hours to open:

  • ARM Holdings (NASDAQ: ARMH) raised to Outperform at Credit Suisse.
  • F5 Networks (NASDAQ: FFIV) started as Buy at Deutsche Bank.
  • McAfee (NYSE: MFE) Started as Outperform at R.W.Baird.
  • Motorola (NYSE: MOT) Started as Underperform at Credit Suisse.
  • Nokia (NYSE: NOK) Downgraded to Neutral at Credit Suisse.
  • Novell (NASDAQ: NOVL) Raised to Buy from Hold at Jefferies.
  • Qualcomm (NASDAQ: QCOM) Started as Outperform at Credit Suisse.
  • Tibco Software (NASDAQ: TIBX) Raised to Hold from Underperform at Jefferies.

Full Med-Bio Analyst Upgrade/Downgrade summary from BioHealthInvestor.com: BMY, EHTH, IMCL, BABY, NUVA, ONXX, OSIP, ZMH

Jon C. Ogg
June 27, 2008

Top 10 Pre-Market Analyst Calls (ALD, T, BA, NDAQ, NNI, PBT, RL, RGC, TIBX, WINN)

These are not all of the calls we are seeing in pre-market coverage, but these are ten of the calls impacting shares this Wednesday morning:

  • Allied Capital (NYSE: ALD) Started as Underweight at JPMorgan.
  • AT&T (NYSE: T) raised to Outperform at Bernstein.
  • Boeing (NYSE: BA) Cut to Sell from Neutral at Goldman Sachs.
  • NASDAQ OMX (NASDAQ: NDAQ) Raised to Buy from Neutral at Piper Jaffray.
  • Nelnet (NYSE: NNI) Raised to Outperform at FBR.
  • Permian Basin Royalty Trust (NYSE: PBT) Raised to Buy from Hold at Citigroup.
  • Polo Ralph Lauren (NYSE: RL) Raised to Market Perform from Underperform at Morgan Keegan.
  • Regal Entertainment (NYSE: RGC) Raised to Outperform at BMO Capital.
  • Tibco Software (NASDAQ: TIBX) Raised to Overweight at JPMorgan.
  • Winn-Dixie (NASDAQ: WINN) Raised to Outperform from Market Perform at FBR.

Jon C. Ogg
June 25, 2008

Top 10 Pre-Market Analyst Calls (GFIG, GU, HTZ, MBT, NSM, PM, SGP, TOC, TIBX, VOD)

These are not all of the calls we are seeing this morning, but these are the top analyst calls we see affecting shares in pre-market trading this Monday morning:

  • GFI Group (NASDAQ: GFIG) started as Market Perform at KBW.
  • Gushan Environmental Energy (NYSE: GU) downgraded to Neutral from Buy at Piper Jaffray.
  • Hertz Global (NYSE: HTZ) downgraded to Neutral from Buy at UBS.
  • Mobile Telesystems (NYSE: MBT) raised to Outperform at Credit Suisse.
  • National Semiconductor (NYSE: NSM) started as Market-weight at Thomas Weisel.
  • Philip Morris International (NYSE: PM) started as Overweight at Lehman.
  • Schering-Plough (NYSE: SGP) downgraded to Equal-weight from Overweight at Lehman Brothers.
  • Thomson (NYSE: TOC) downgraded to Hold from Buy at Deutsche Bank.
  • TIBCO Software (NASDAQ: TIBX) downgraded to Underperform from Hold at Jefferies.
  • VODAFONE (NYSE: VOD) downgraded to Underweight at Morgan Stanley.

Jon C. Ogg
March 31, 2008

Top 10 Pre-Market Analyst Calls (ADBE, BIIB, DAI, DCGN, EBAY, HOG, JPM, WFC, MFE, MPEL, TIBX)

These are not at all the only key impact analyst calls, but these are the early bird calls that 247WallSt.com is focusing on:

  • Adobe (NASDAQ: ADBE) downgraded to Neutral from Buy at UBS.
  • Biogen Idec (NASDAQ: BIIB) raised to Buy from Neutral at Banc of America.
  • Daimler (NYSE: DAI) downgraded to Market Perform at Bernstein.
  • deCODE Genetics (NASDAQ: DCGN) downgraded to Underweight at Lehman.
  • eBay (NASDAQ: EBAY) raised to Outperform from Peer Perform at Bear Stearns.
  • Harley Davidson (NYSE: HOG) downgraded to SELL from Hold at Citigroup.
  • JPMorgan Chase (NYSE: JPM) & Wells Fargo (NYSE: WFC) were both downgraded to Peer Perform at Oppenheimer.
  • McAfee (NYSE: MFE) downgraded to Neutral from Buy at UBS.
  • Melco PBL Entertainment (NASDAQ: MPEL) raised to Buy from Neutral at UBS.
  • TIBCO Software (NASDAQ: TIBX) raised to Buy from Hold at Citigroup.

Jon C. Ogg
January 17, 2008

Pre-Market Analyst Calls (September 27, 2007)

AET started as Outperform at Wachovia.
CI started as mkt perform at Wachovia.
CEO cut to Neutral at Goldman Sachs.
EQ cut to Underweight at Morgan Stanley.
GME cut to Neutral at UBS.
HNT started as mkt perform at Wachovia.
KND raised to Mkt Perform at Wachovia.
LEVP started as outperform at CIBC.
MGA raised to outperform at CIBC.
MOGN started as Outperform at FBR.
PUK raised to outperform at Bear Stearns.
RMD cut to Neutral at UBS.
SBUX cut to Sell at B of A.
TIBX started as Neutral at Sun Trust Robinson Humphrey.
WSTL raised to Outperform at RW Baird.

Jon C. Ogg
September 27, 2007

Reuters $1B IT Outsourcing Pact Names Fujitsu Instead of TIBCO (TIBX, VMW, RTRSY, TOC)

We confirmed that Reuters (NASDAQ:RTRSY) has apparently given a $1 Billion IT outsourcing pact to Fujitsu Services to launch a standardized IT platform across its global operations.  Reuters wants to save $1 Billion over the course of a 10-year pact.

According to CNET, the pact is covering Reuters’ core IT internal services, including e-mail and desktop, and consolidates a number of existing deals and will manage some outside suppliers.  We took our own peak at the announcement and it isn’t from this morning and during a weak where market malaise and volatility ruled it probably seems muted in comparison.  Oddly enough, the term virtualization is thrown in for the entire network, which has to be noise to the ears of VMware (NYSE:VMW) and the few other virtualization providers.  Fujitsu is working with several other organisations, including Dell, Satyam, Siemens and Verizon, to deliver the overall service.

TIBCO Software used to be under Reuters and it eventually was jettisoned into its own company.  That was in the 1990’s and a few years ago it looks like ties were severed.  TIBCO still lists Reuters as a top 100 client on their site and they are still active with the company, but as an ex-parent you have to wonder if it could have gone their way.

We could speculate on it, but there are too many unknowns in light of the pending Reuters merger with Thomson (NYSE:TOC) and we don’t want to create any false buzz on a deal from earlier this week.  TIBCO does still do a lot of work with Reuters and TIBCO did just over $517 million in revenues in 2006 and is expected to jump to $585 million this year.  There is always even the possibility that TIBCO could even get to pick up more crumbs from it.

Jon Ogg can be reached at jonogg@247wallst.com; he is the publisher of the 24/7 Wall St. Special Situation Investing Newsletter and does not own securities in the companies he covers.

Earlybird Analyst Calls (MAY 15, 2007)

AMGN cut to Neutral at Baird.
AOG cut to Hold at Jefferies.
BEAS cut to Neutral at Credit Suisse.
BHE started as Neutral at Credit Suisse.
CLS started as Underperform at Credit Suisse.
COGO started as Overweight at Lehman.
DCX raised to Buy at UBS.
EPIC started as Buy at UBS.
FLEX started as Outperform Credit Suisse.
GLP cut to Equal Weight at Lehman.
GM raised to Equal Weight at Lehman.
ICFI cut to Hold at Jefferies.
JAH started as Overweight at Lehman.
JBL started as Neutral at Credit Suisse.
MRO raised to Buy at B of A.
PGR started as Reduce at UBS.
PLXS started as Neutral at Credit Suisse.
SANM started as Neutral at Credit Suisse.
SLR started as Underperform at Credit Suisse.
SOFO started as Buy at Cantor Fitzgerald.
STEC cut to Hold at Deutsche Bank; cut to Sector Perform at CIBC.
TIBX cut to Neutral at Credit Suisse.
TSO cut to Neutral at B of A.
VRAZ started as Equal Weight at Lehman.
VLO cut to Neutral at B of A.

Jon C. Ogg
May 15, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Is BEA Systems Any Closer To An Offer? (BEAS)

BEA Systems (BEAS-NASDAQ) is a name that just came back under fire yesterday after lowering its quarterly revenue projections.  The drop in the stock was not massive as estimates were $348+ million and the company guided to $342 to $347 million.  Shares closed down only 3% or more, but they had traded down over 10% early yesterday.  The licensing revenues are a disappointment: the guidance was as low as $111 million versus prior forecasts of $132 million. 

It is blaming the reorganization and saleforce realignment, but the likely issue is that Oracle (ORCL-NASDAQ) is taking more of the middleware market share away or that other competitors are winning.  The company also competes against H-P (HPQ) via H-P’s Mercury Interactive, SAP’s (SAP) NetWeaver, Tibco Software (TIBX), and IBM (IBM). You can now interpret that Salesforce.com (CRM) is more into the space than in prior years. BEA Systems has been a "rumored and speculated" takeover name literally back into the 1990’s and valuations were always in the way.  The balance sheet and income statements are both somewhat guesswork because BEA has been delinquent in filings over stock options and much of the current numbers are best ‘guestimates.’  If the balance sheet is still close to $900 million in tangible book value, we can at least take a stab at "valuations."

This has been a BAIT SHOP member in the past (of takover candidates) at much lower prices and before the options backdating was an issue, and has been removed because of valuations getting higher than a perceived buyer would have paid.  If the company is feeling more competitive pressures then it could finally decide to be more open to a deal.  That is most likely not yet the case.  The problem would boil down to the price: it would probably take close to $14.00 in today’s money as is for an "entry-level" bid that would keep the board from laughing a buyer out of the room.  This is one we have noted as needing to go lower and "staying lower" because of sales or industry pressure before management would be considered very vulnerable to a predator or before they would capitualte. 

Let’s take the warning a bit further to determine more conservative base-line forward valuations.  If we were going to price in competitive pressures and a slower environment and trim off 10% of earnings and revenues, then here is what the company would lool like in valuation (these numbers reflect a 10% discounting to forward street estimates): $0.55 EPS for JAN-08 fiscal year on revenues of $1.39 Billion; so forward multiples would come in at 20.5 times forward discounted EPS, 3.2-times forward revenues, and 17-times discounted cash flow from operations.  These levels aren’t exactly overvalued for a software company, but they aren’t good enough alone for a larger competitor to get a free assassination of a competitor.  They also might not be good enough without knowing what the real charges will end up being because of stock options, and it requires trusting the past financial data without current numbers being precise.

With a $4.45 Billion market cap today it is within the constraints of a doable deal.  The ‘unknowns’ probably still negate the "acquirable size."  Another problem is that the company has maintained that it wants to remain independent and a buyer might not be interested if the company begins implementing measures that could make the company less attractive.  As far as we are concerned, BEA Systems’ stock still needs to get current with the SEC and the stock needs to settle in at lower levels before we’d start looking at it as any serious takeover candidate with an actionable and hedged call. 

Jon C. Ogg
May 2, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.