24/7 Wall St. » TIBX

24/7 Wall St. Closing Bell (POT, AGU, SKS, VVUS, MU, AM, CPY, NEOG, TIBX, BBBY, RAM, WCAA, ABIO, PHH, LRE)

Paul Ausick — Thu, 22 Dec 2011 21:07:33 +0000

A downward revision to third-quarter GDP did not hold down early trading this morning as markets got off to a good start and remained in positive territory throughout the day. A rise in consumer confidence and in leading economic indicators likely solidified the gains. Trading volume was light again today in the run-up to the holiday weekend. WTI crude traded at $99.46/barrel and Brent traded at $107.73. Gold continues to slide, down -$5.80, at $1,607.80/ounce.

The unofficial closing bells put the DJIA up more than 63 points to 12,170.86 (0.52%), the NASDAQ rose more than 21 points (0.83%) to 2,599.45, and the S&P 500 rose 0.83% or more than 10 points to 1,254.07.

There were several analyst upgrades and downgrades today, including Potash Corp. of Saskatchewan (NYSE: POT) raised from ‘sector perform’ to ‘outperform’ at RBC Capital Markets. Other ratings actions today include Agrium Corp. (NYSE: AGU) cut from ‘outperform’ to ‘sector perform’ at RBC Capital Markets; Saks Inc. (NYSE: SKS) cut from ‘outperform’ to ‘neutral’ at Zack’s; Vivus Inc. (NASDAQ: VVUS) cut from ‘buy’ to ‘neutral’ at Roth Capital and maintained ‘outperform’ at Credit Suisse; and Micron Technology Inc. (NASDAQ: MU) maintained as ‘buy’ with an $11 target price at Sterne Agee and maintained as ‘outperform’ at Credit Suisse.

Here are some of last night’s and today’s post-earnings news reactions with prices during the last half-hour of trading: Micron Technology is up nearly 18% at $6.54; American Greetings Inc. (NYSE: AM) is down more than -21% at $13.37, after posting a new 52-week low of $12.85 earlier in the day; CPI Corp. (NYSE: CPY) is down more than -62% at $2.00, after posting a new 52-week low of $1.96 earlier in the day; Neogen Corp. (NASDAQ: NEOG) is down nearly -3% at $31.15; Tibco Software Inc. (NASDAQ: TIBX) is up nearly 8% at $23.74; and Bed Bath & Beyond Inc. (NASDAQ: BBBY) is down more than -6% at $57.70.

Other standouts from today include the following stocks:

RAM Energy Resources Inc. (NASDAQ: RAM) is up nearly 71% at $1.88. The independent oil & gas company has today relisted on the NASDAQ and has also announced a $550 million investment from a private equity firm headed by the former chairman and CEO of Petrohawk.

WCA Waste Corp. (NASDAQ: WCAA) is up nearly 31% at $6.43, after posting a new 52-week high of $6.44 earlier. The non-hazardous waste processor has approved a cash buyout offer for $526 million ($6.50/share) from a private investment fund.

ARCA biopharma Inc. (NASDAQ: ABIO) is down more than -24% at $1.02, after posting a new 52-week low of $0.97 earlier today. The biopharmaceutical firm announced a private placement of $1.75 million in stock and warrants.

PHH Corp. (NYSE: PHH) is down more than -15% at $11.01 after posting a new 52-week low of $8.75 earlier today. The mortgage servicer’s credit ratings were cut at S&P to ‘BB-’ on concern that the company would not be able to make a $423 million debt repayment scheduled for March 2013 out the its free cash flow.

Vivus Inc. (NASDAQ: VVUS) is down more than -16% at $8.72 after posting a new 52-week low of $8.60 earlier. The biopharmaceutical firm announced that its weight-loss drug Qnexa led to a higher rate of birth defects in children whose mothers were taking the drug during pregnancy.

LRR Energy, L.P. (NYSE: LRR) is up more than 9% at $19.34. The independent oil & gas company has received positive ratings from several brokers following last week’s more than 9 million new common units.

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

8:30 a.m. – Durable goods orders report
8:30 a.m. – Personal income and spending report
10:00 a.m. – New home sales

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ABIO, AGU, AM, BBBY, CPY, LRE, MU, NEOG, PHH, POT, RAM, SKS, TIBX, VVUS, WCAA

24/7 Wall St. Closing Bell (DELL, DKS, RIMM, ATVI, TIBX, ZOOM, ANF, TGT, SPB, VLO, WNR, MPC, NG, PEIX, ASYS, UNIS)

Paul Ausick — Wed, 16 Nov 2011 21:08:49 +0000

The markets opened lower this morning and not until mid-afternoon were equities able to put a mark above yesterday’s close. European stocks traded mixed all day, and that coupled with rising crude prices could have held the markets in check. Crude prices are upmore than 3% so far today, at about $102.55 for WTI crude. The good news is that the spread between WTI and Brent has narrowed to $9/barrel. Because US gasoline prices are now pegged to Brent, pump prices could rise only moderately as WTI continues to close the gap. The dollar is a bit stronger today as well, leading to lower prices among commodities, with wheat off by about -2.5%.The unofficial closing bells put the DJIA down more than 190 points to 11,905.19 (-1.57%), the NASDAQ fell more than 46 points (-1.73%) to 2,639.61, and the S&P 500 fell about -1.66% or nearly 21 points to 1,236.92.There were several analyst upgrades and downgrades today, including Dell Inc. (NASDAQ: DELL), which was maintained at ‘underperform’ at Credit Suisse and reiterated at ‘buy’ with a $22 price target at Argus. Other action included Dick’s Sporting Goods, Inc. (NYSE: DKS) added to the Conviction Buy list at Goldman Sachs; Research in Motion Ltd. (NASDAQ: RIMM) raised to ‘neutral’ at Goldman Sachs; Activision Blizzard Inc. (NASDAQ: ATVI) reiterated as ‘buy’ with an $18 price target at Argus; and TIBCO Software Inc. (NASDAQ: TIBX) started with ‘market perform’ by BMO Capital and as ‘outperform’ at JMP Securities.Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: Dell Inc. is down about -3%, at $15.16; Zoom Technologies Inc. (NASDAQ: ZOOM) is down about -19%, at $1.39; Abercrombie & Fitch Co. (NYSE: ANF) is down about -14.7%, at $47.50; Target Corp. (NYSE: TGT) is down about -0.1%, at $53.11; and Spectrum Brands Holdings Inc. (NYSE: SPB) is down -7.8%, at $23.39. We covered Target, Spectrum, and A&F earnings earlier today.

Several other standouts from today are as follows…

Valero Energy Corp. (NYSE: VLO) is down nearly -9%, at $22.67. Valero and other refiners’ stocks got hit with a narrowing of the gap between WTI and Brent crudes, as well as an announcement by Enbridge Inc. (NYSE: ENB) that it is buying a 50% stake in the Seaway pipeline from ConocoPhillips Corp. (NYSE: COP) and reversing the pipeline’s flow to carry 150,000 barrels/day of crude from Cushing, Oklahoma, to the Gulf Coast.

Western Refining Inc. (NYSE: WNR) is down more than -13%, at $13.47, and Marathon Petroleum Corp. (NYSE: MPC) is down about -11%, at $32.91.

Novagold Resources Inc. (AMEX: NG) is up more than 23.5%, at $10-.89. The company has appointed a new CEO to start in January and also announced that it would spin-off a subsidiary, NovaCopper, to current NovaGold shareholders.

Pacific Ethanol Inc. (NASDAQ: PEIX) is up more than 3%, at $1.37. The company announced that it has fully retired $35 million in senior convertible notes.

Amtech Systems Inc. (NASDAQ: ASYS) is down more than -17%, at $8.59. The company issued a statement that it expects to post $21-$23 million in sales for the third quarter, where analysts had been expecting revenue of $50 million.

Unilife Corp. (NASDAQ: UNIS) is down about -12.5%, at $4.17. The company priced a secondary stock offering of 8.25 million shares at $4.35, well below yesterday’s closing price of $4.76.

Stay tuned for Thursday. Cleveland Federal Reserve Bank president Sandra Pianalto and New York Fed president William Dudley are giving speeches tomorrow afternoon. Here’s a list of other noteworthy events (all times Eastern):

8:30 a.m. – Housing starts
8:30 a.m. – Initial unemployment benefits claims
10.00 a.m. – Philadelphia Federal Reserve Bank’s October business outlook survey
10:00 a.m. – E-commerce retail sales
10:30 a.m. – EIA weekly natural gas status report
1:00 p.m. – 10-year TIPS auction
4:30 p.m. – Federal Reserve balance sheet and money supply report

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ANF, ASYS, ATVI, DELL, DKS, MPC, NG, PEIX, RIMM, SPB, TGT, TIBX, UNIS, VLO, WNR, ZOOM

Top Analyst Upgrades & Downgrades (ATVI, APD, CIM, DELL, DKS, GTIV, GERN, PAA, RIMM, SXL, TIBX)

Administrator — Wed, 16 Nov 2011 13:01:54 +0000

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

Activision Blizzard Inc. (NASDAQ: ATVI) Reiterated Buy with $18 target at Argus.
Air Products & Chemicals Inc. (NYSE: APD) Reiterated Buy at BofA/ML.
Chimera Investment Corporation (NYSE: CIM) Cut to Sell at Wunderlich.
Dell Inc. (NASDAQ: DELL) Maintained Underperform at Credit Suisse; Reiterated Buy with $22 target at Argus.
Dick’s Sporting Goods Inc. (NYSE: DKS) Raised to Conviction Buy List at Goldman Sachs.
Gentiva Health Services (NASDAQ: GTIV) named Bear of the Day at Zacks.
Geron Corporation (NASDAQ: GERN) Cut to Neutral at JPMorgan.
Plains All American Pipeline, L.P. (NYSE: PAA) named Value stock of the day at Zacks.
Research in Motion Ltd. (NASDAQ: RIMM) Raised to Neutral from Sell at Goldman Sachs.
Sunoco Logistics, LP (NYSE: SXL) named Bull of the Day at Zacks.
TIBCO Software Inc. (NASDAQ: TIBX) Started as Market Perform at BMO Capital; Started as Market Outperform at JMP Securities.

JON C. OGG

Filed under: Analyst Calls Tagged: APD, ATVI, CIM, DELL, DKS, GERN, GTIV, PAA, RIMM, SXL, TIBX

Are You Ready… The Cloud ETF Arrives (SKYY, NFLX, RNOW, OTEX, RAX, TIBX, INFA, APKT, TDC, ARUN, EQIX)

Administrator — Wed, 06 Jul 2011 14:14:33 +0000

The new saying in investing is “There’s an ETF for that!” Now you can count THE CLOUD in there. First Trust has just launched its Cloud-ETF, called the First Trust ISE Cloud Computing Index Fund (NASDAQ: SKYY). The expense ratio is probably not going to be considered outrageous but is higher than many ETF products with its 0.60% expense ratio.

The top components are as follows: NetFlix Inc. (NASDAQ: NFLX) 4.46%; RightNow Technologies Inc. (NASDAQ: RNOW) 4.15%; Open Text Corp. (NASDAQ: OTEX) 4.13%; Rackspace Hosting Inc. (NYSE: RAX) 4.11%; TIBCO Software Inc. (NASDAQ: TIBX) 3.91%; Informatica Corp. (NASDAQ: INFA) 3.89%; Acme Packet Inc. (NASDAQ: APKT) 3.87%; Teradata Corp. (NYSE: TDC) 3.80%; Aruba Networks Inc. (NASDAQ: ARUN) 3.78%; and Equinix Inc. (NASDAQ: EQIX) 3.70%. The classification stresses software at 32.53%, Internet software & services as 22.61%, communications equipment at 16.75%, and computer & peripherals at 11.15%.

The index tracks the ISE Cloud Computing™ Index and is said to be modified in equal-dollar weightings and is meant to track the cumulative performance of companies “actively involved in the cloud computing industry.” Minimum participation requires being engaged in a business activity supporting or utilizing the cloud computing space, as well as a share listing on an index-eligible global stock exchange, and finally a minimum market capitalization rate of $100 million.

The three segments in the index are the following:

pure-play cloud computing companies: direct service providers for the cloud or companies that deliver goods and services that utilize cloud computing technology;
non-pure-play cloud computing companies: companies that focus outside the cloud computing space, but those which provide goods and services in support of the cloud computing space;
Technology Conglomerate Cloud Computing Companies: These are large broad-based companies that indirectly utilize or support the use of cloud computing technology.

The overall weight by segment is 10% allocated to technology conglomerate companies. The rest is stated as, “The index weight that is allocated to non pure play companies is calculated by dividing the non pure play companies’ market capitalization by the sum of the pure play, non pure play and technology conglomerate market capitalizations. The remainder of the index weight is allocated to pure play companies.” Stocks are equally weighted within each of the three classifications and the index is reconstituted semi-annually and rebalanced quarterly.

After looking at the fact sheet, here are more details. The minimum constituent market cap is $863 million, the median market cap is $9.65 billion, and the highest market cap is $321 billion. The average P/E ratio is 33.37, the average price/book ratio is 5.10, the average price-to-cash flow ratio is 17.75, and the average Price/sales ratio is 4.20.

It is up to you as to decide whether or not you are a believer in an ETF with modified weightings such as this. When we hear “There is an ETF for that!” the question that always comes to mind is “Should there be?”

JON C. OGG

Filed under: Business Services, Consumer Electronics, Corporate Governance, Editor's Picks, ETF, Infrastructure, Internet, IPOs, Media, Mutual Funds, PC Companies, Software, Technology Companies Tagged: APKT, ARUN, EQIX, INFA, NFLX, OTEX, RAX, RNOW, SKYY, TDC, TIBX

Top Analyst Upgrades & Downgrades (AAPL, AXS, CEPH, DELL, INTC, MU, PTIE, PM, TIBX)

Administrator — Wed, 30 Mar 2011 12:23:58 +0000

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

Apple Inc. (NASDAQ: AAPL) Maintained Buy with $450 target but lowered estimates at Jefferies.
AXIS Capital Holdings (NYSE: AXS) Cut to Underperform as Bear of the Day at Zacks.
Cephalon, Inc. (NASDAQ: CEPH) Dropped from Buy on buyout at BofA/ML.
Dell, Inc. (NASDAQ: DELL) maintained Outperform as Bull of the Day at Zacks, but Dell also Cut to Hold at Needham.
Intel Corporation (NASDAQ: INTC) on Focus List with Outperform rating and $28 target at Credit Suisse.
Micron Technology Inc. (NASDAQ: MU) Reiterated Outperform and $15 target at Credit Suisse.
Pain Therapeutics Inc. (NASDAQ: PTIE) STarted as Buy with $12 target at BofA/ML.
Philip Morris International (NYSE: PM) Added to Conviction Buy List at Goldman Sachs.
TIBCO Software Inc. (NASDAQ: TIBX) Raised to Buy at BofA/ML.

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: AAPL, AXS, CEPH, DELL, INTC, MU, PM, PTIE, TIBX

December Buybacks Near $30 Billion Already, More For 2011 (T, AET, AZO, ADSK, CB, CAG, CCK, ECA, ENZN, HD, INTC, MAN, MKL, SWY, SYK, TEVA, TIBX, PKW, CSCO, GE, BAC, WFC, JPM)

Administrator — Wed, 22 Dec 2010 17:38:33 +0000

There is a long-standing debate over the effect and impact of share buyback plans. What is not up for debate is that many companies have given big updates or announced new buyback plans in the month of December. In less than two weeks we had some $15 billion in updated buybacks, but through December 22 we actually have a much larger number: almost $29 billion tracked in just these buybacks! The number is likely over $30 billion already.

We have updates for AT&T Inc. (NYSE: T), Aetna Inc. (NYSE: AET), AutoZone Inc. (NYSE: AZO), Autodesk, Inc. (NASDAQ: ADSK), Baxter International Inc. (NYSE: BAX), Chubb Corporation (NYSE: CB), ConAgra Foods, Inc. (NYSE: CAG), Encana Corp. (NYSE: ECA), Enzon Pharmaceuticals Inc. (NASDAQ: ENZN), Franklin Resources Inc. (NYSE: BEN), The Home Depot, Inc. (NYSE: HD), Intel Corporation (NASDAQ: INTC), Markel Corp. (NYSE: MKL), Safeway Inc. (NYSE: SWY), Stryker Corp. (NYSE: SYK) and Teva Pharmaceutical Industries Limited (NASDAQ: TEVA), TIBCO Software Inc. (NASDAQ: TIBX), and Trinity Industries Inc. (NYSE: TRN).

The buyback ETF is PowerShares Buyback Achiever Portfolio (NYSE: PKW), and we have highlighted that herein as well. We also took a look at the continuing situations in General Electric Co. (NYSE: GE) and Cisco Systems Inc. (NASDAQ: CSCO). For buybacks in 2011, there is already evidence that Bank of America Corp. (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC), and J.P. Morgan Chase & Co. (NYSE: JPM) could begin significant buyback programs.

There is a long-standing debate over whether or not stock buybacks are an effective return of cash to shareholders. It’s a simple theory by lowering the number of outstanding shares to boosts the price of the stock. That does not always work, but many companies are willing to spend billions upon billions for this effort. Investors need to know that many new buyback plans are coming. We wanted to track December’s big buybacks now that we are likely over some $30 billion if you include the many smaller buybacks we either missed or eliminated due to size and the length of this already.

AT&T Inc. (NYSE: T) announced last week that it plans to repurchase as many as 300 million shares. This would represent some $8.7 billion worth of stock at the time, or about 5% of its shares. The current market cap is close to $171 billion.

Aetna Inc. (NYSE: AET) approved the repurchase of $750 million of stock, which is actually in addition to roughly $257 million left in prior approvals. We’ll call it $1 billion for short, and that compares to a market cap of just over $12 billion at the time.

AutoZone Inc. (NYSE: AZO) added some $500 million into its buyback plan. The company noted, “Since the inception of the repurchase program in 1998, and including the above amount, AutoZone’s Board of Directors has authorized $9.9 billion.” Its market cap is currently just shy of $12 billion.

Filed under: Analyst Calls, Banking, Corporate Governance, Dividend, Economy, Editor's Picks, Large Cap Stocks, Mergers and Buy Outs, Shareholder Issues, Stock Buybacks, Trading Alert, Value Investing Tagged: ADSK, AET, AZO, BAC, CAG, CB, CCK, CSCO, ECA, ENZN, GE, HD, INTC, JPM, MAN, MKL, PKW, SWY, SYK, T, TEVA, TIBX, WFC

Top Analyst Upgrades and Downgrades (ABB, AKAM, AMGN, CCL, GOL, RHT, SUN, SVU, THC, TIBX, TSL, UNH, YGE, YRCW)

Administrator — Wed, 22 Dec 2010 13:20:35 +0000

These are some of this Wednesday’s key analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

ABB Ltd. (NYSE: ABB) Raised to Buy at Stern Agee.
Akamai Technologies Inc. (NASDAQ: AKAM) Started as Market Perform at Wells Fargo.
Amgen Inc. (NASDAQ: AMGN) Maintained Underperform with $56 target at BofA/ML.
Carnival Corporation (NYSE: CCL) Raised to Buy at S&P Equity Research (likely late-Tuesday call).
GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL) Cut to Hold at Argus.
Red Hat Inc. (NYSE: RHT) Reiterated Buy and $53 target at BofA/ML.
Sunoco Inc. (NYSE: SUN) Reiterated Sell at Argus.
SuperValu Inc. (NYSE: SVU) Raised to Buy at Hapoalim.
Tenet Healthcare Corp. (NYSE: THC) Cut to Market Perform at Wells Fargo.
TIBCO Software Inc. (NASDAQ: TIBX) Maintained as Underperform at BofA/ML.
Trina Solar Ltd. (NYSE: TSL) Maintained Neutral but target raised to $26 from $17 at Credit Suisse.
UnitedHealth Group, Inc. (NYSE: UNH) Reiterated Outperform and target raised to to $48 at Credit Suisse.
Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) Started as Neutral with $12 target at Credit Suisse.
YRC Worldwide. Inc. (NASDAQ: YRCW) Maintained Underperform at Credit Suisse.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: ABB, AKAM, AMGN, CCL, GOL, RHT, SUN, SVU, THC, TIBX, TSL, UNH, YGE, YRCW

Today’s Best Market Rumors (9/24/2010) Buy-Out Targets, GM

247wallst — Fri, 24 Sep 2010 12:33:28 +0000

Updated throughout the day.

ARM Holdings (NASDAQ: ARMH) is a buy-out target (various)

Tibco (NASDAQ: TIBX) is a buy-out target (Barron’s)

Japan may further intervene in financial markets to affect the price of the yen (Reuters)

“Ally Financial Inc.’s GMAC Mortgage unit told Freddie Mac that foreclosures by the auto and home lender might have been faulty weeks before halting its own evictions.” (Bloomberg)

The federal government has told GM to cut the size of its IPO. (NYT)

Douglas A. McIntyre

Filed under: Mergers and Buy Outs, Rumors Tagged: ARMH, TIBX

Active Stock Trader Alerts 9/24/2010

247wallst — Fri, 24 Sep 2010 12:19:34 +0000

AMD (NYSE: AMD) is up 2% after lowering its earnings forecasts

Vical (NASDAQ: VICL) down 14% on late stage drug trial failure.

ARM Holdings (ARMH) up 7% on buyout rumors.

Sirius XM (NASDAQ: SIRI) is up 2% on positive analyst calls.

NetFlix (NASDAQ: NFLX) is up 3% on an expanded relationship with NBC.

Tibco (NASDAQ: TIBX) is up 6% on strong earnings and takeover rumors.

The Finish Line (NASDAQ: FINL) is down 11% on bad earnings.

Douglas A. McIntyre

Filed under: Most Actives Tagged: AMD, ARMH, FINL, NFLX, SIRI, TIBX, VICL

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

247wallst — Fri, 25 Sep 2009 12:35:57 +0000

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

Posted in Pre-Market Activity Tagged: ALTH, RIMM, TIBX, UCBI