Posts for Ticker ‘VRSN’

Top 10 Analyst Upgrades, Downgrades, Initiations (ADBE, ARIA, BX, CMO, CRL, GPS, RHT, RSH, VECO, VRSN)

These are this Monday’s top ten analyst calls with upgrades, downgrades, and initiations in Wall Street research calls:

Adobe Systems (NASDAQ: ADBE) Raised to Buy at Goldman Sachs.
Ariad Pharmaceuticals (NASDAQ: ARIA) Raised to Overweight at JP Morgan.
Blackstone Group (NYSE: BX) Raised to Outperform at KBW.
Charles River Labs (CRL) Cut to Equal Weight at Barclays.
Gap Inc. (GPS) Cut to Equal Weight at Barclays.
Red Hat (NYSE: RHT) Cut to Neutral at Goldman Sachs.
Capstead Mortgage (NYSE: CMO) Raised to Outperform at KBW.
RadioShack (NYSE: RSH) Raised to Outperform at Credit Suisse.
Veeco Instruments Inc. (NASDAQ: VECO) Started as Overweight at Piper Jaffray.
VeriSign (NASDAQ: VRSN) Cut to Sell at Goldman Sachs.

You can join our open email distribution list to get updates on top analyst upgrades and downgrades, top day trader alerts, IPO’s, secondary offerings, Warren Buffett and other guru activity, M&A and more.

Jon C. Ogg
November 9, 2009

Top Analyst Upgrades and Downgrades (CTXS, CRK, CVGI, HR, ITMN, RDS-B, SLXP, VRSN, YRCW)

It is somewhat light in analyst coverage this morning as reports are dribbling in.  These are the top analyst upgrades, downgrades, and initiations we have seen from Wall Street early this Wednesday morning:

Citrix Systems (CTXS) Cut to Perform at Oppenheimer.
Comstock Resources (CRK) Cut to Hold at Stifel Nicolaus.
Commercial Vehicle Group (CVGI) Raised to Overweight at JPMorgan.
Healthcare Realty (HR) Raised to Outperform at Morgan Keegan.
InterMune (ITMN) Started as Buy at Merriman Curhan Ford.
Royal Dutch Shell (RDS-B) Cut to Neutral at HSBC.
Salix Pharmaceuticals (SLXP) Started as Buy at Merriman Curhan Ford.
Verisign (VRSN) Raised to Outperform at Credit Suisse.

YRC Worldwide (YRCW) Cut to Sell at Stifel Nicolaus.

Jon C. Ogg
August 12, 2009

More Reverse Splits, or Just Closure, Possible or Needed in ETFs (FAS, FAZ, UYG, BAC, BHH, ARBA, IIH, AKAM, VRSN, UNG, USO, GLD, SDS, SPY, NYX, NDAQ)

Money Stack ImageWe have been large fans of exchange-traded funds, exchange-traded notes, and other exchange-traded instruments which are open for trade throughout the day that are allowed to be invested in just like a stock.  But with all new and growing markets, there are risks that need to be kept in check.  There are some leveraged ETF’s and their inverse counterparts which might need to see reverse share splits in the near future.  The notion of so many low-priced shares being so active may wreak havoc as the funds managing each ETF try to keep up with appropriate derivatives and in buying and selling shares of the components that are supposed to be the underlying securities.  There are even a few ETF’s which should probably just be closed down entirely and liquidated to holders.  Direxion Daily Financial Bull 3X Shares (NYSE: FAS) and The Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) are both prime examples of ETFs which skew total daily exchange trading volume numbers because of low share prices today and massive trading volume.  This is not meant to pick on the fund groups because they created trading vehicles which they did not expect to see some of these moves.  There are many more ETFs and ETNs to consider here.

Direxion just announced a reverse split for another ETF yesterday, but not its two financial triple-leverage ETFs.  Direxion Daily Financial Bull 3X Shares (NYSE: FAS) is now back down close to $8.00 per share, yet it trades 250 million shares on an average day.  The Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) is barely above $5.00 and trades more than 200 million shares on an average day.  So between the FAS and FAZ, you have an average of more than 450 million shares, and at today’s prices that is close to $3 billion worth of nominal value.

This review discusses a portion of the ETFs and ETNs and the ones under discussion today, along with underlying key companies, are Ultra Financials ProShares (NYSE: UYG), Bank of America Corporation (NYSE: BAC), B2B Internet HOLDRs (AMEX: BHH), Ariba, Inc. (NASDAQ: ARBA), Internet Capital Group (NASDAQ: ICGE), Internet Infrastructure HOLDRs (AMEX: IIH), VeriSign Inc. (NASDAQ: VRSN), Akamai Technologies Inc. (NASDAQ: AKAM), United States Natural Gas (NYSE: UNG), United States Oil (NYSE: USO), SPDR Gold Shares (NYSE: GLD), UltraShort S&P500 ProShares (NYSE: SDS), SPDRs (NYSE: SPY), New York Stock Exchange (NYSE: NYX) and the NASDAQ OMX Group Inc. (NASDAQ: NDAQ).
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Top 10 Analyst Upgrades & Downgrades (ACN, ASCA, KMX, DNDN, FRO, MEOH, PGR, VRSN, WAT)

These are the top ten analyst upgrades and downgrades we have seen from Wall Street early this Monday morning with more than two hours until the market opens:

  • Accenture (ACN) Raised to Positive at Susquehanna.
  • Ameristar Casinos (ASCA) Raised to Overweight at JPMorgan.
  • CarMax (KMX) Cut to Hold at Deutsche Bank.
  • Dendreon (DNDN) Raised to Hold from Sell at McAdams Wright Ragen.
  • Frontline Ltd. (FRO) Raised to Buy at Goldman Sachs.
  • Methanex (MEOH) Cut to Outperform at Raymond James.
  • Progressive (PGR) Cut to Market Perform at FBR.
  • VeriSign (VRSN) Raised to Overweight at JPMorgan.
  • Waters (WAT) Raised to Outperform at Robert W. Baird.

Jon C. Ogg
June 22, 2009

Top Analyst Upgrades (COST, DEO, ESC, HD, LOW, TGT, VRSN, WMT)

These are some of the top pre-market analyst upgrades we have seen with about two and a half hours until the market opens this Friday morning:

Costco Wholesale Corp. (COST) Started as Buy at Janney Montgomery.
Diageo (DEO) Raised to Neutral at UBS.
Emeritus Corp. (ESC) Raised to Outperform at Morgan Keegan.
Home Depot (HD) Started as Buy at Janney Montgomery.
Lowe’s (LOW) Started as Buy at Janney Montgomery.
Target (TGT) Started as Buy at Janney Montgomery.
VeriSign (VRSN) Raised to Outperform at Oppenheimer.
Wal-Mart (WMT) Started as Buy at Janney Montgomery.

JON C. OGG

AmTech’s Top Fundamental Technology Stocks (CNQR, MELI, MFE, MPWR, QCOM, RIMM, VRSN)

Amtech_logo_2American Technology Research has issued a research report going into earnings season called "Our Best Dozen Fundamental Picks."  AmTech believes investors already expect a disaster but that the current business climate isn’t as bad as some argue.  While the firm believes that many companies will guide expectations lower or will be very cautious, some will continue to outperform their peers. We have broken out the technology companies in an individual piece today and some very brief commentary from AmTech is outlined below.

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Web.Com, Perhaps The Cheapest Internet Stock (WWWW, VRSN)

Web_com_logoThis weekend we gave many updates to our favorite stocks in the under $10 category.  Of our stocks, Web.com (NASDAQ: WWWW) remains perhaps the cheapest of the internet stocks which fit within our screening criteria.  Web.com is the old Website Pros, Inc. which traded under the "WSPI" ticker, and this stock has been poorly treated by the current market. 

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

Sad_clownTerex 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

Top Pre-Market Analyst Upgrades (BECN, BRNC, CIEN, LLY, ENER, FPL, Q, VRSN)

These are not all of the analyst upgrades or positive calls, but these are some of the calls we are seeing with a possible impact on shares early Monday morning:

  • Beacon Roofing (BECN) Raised to Outperform at Baird.
  • Bronco Drilling (BRNC) Raised to Outperform at Jefferies.
  • Ciena (CIEN) Raies to Outperform at Morgan Keegan.
  • Eli Lilly (LLY) Raised to Neutral at HSBC.
  • Energy Conversion Devices (ENER) Raised to Buy at UBS.
  • FPL Group (FPL) Raised to Overweight at JPMorgan.
  • Qwest (Q) Raised to Buy at Citigroup.
  • VeriSign (VRSN) Raised to Buy from Hold at Jefferies.

Jon C. Ogg
August 11, 2008

VeriSign Earnings Neither ScarySign Nor VeriBuy (VRSN)

Verisign_logo_2We have just seen earnings out of VeriSign Inc. (NASDAQ: VRSN).  The web versions of "General Eclectic" has a very difficult to compare earnings report because of "total operations" and its core operations.  Its "total revenues was $303.2 million, which looks very high on the surface.  But its core revenues were $233 million and core non-GAAP EPS was $0.25.  First Call had estimates at $0.23 EPS on $231.39M in revenues. 

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Can VeriSign Live Up To Expectations? (VRSN)

Verisign_logoVeriSign Inc. (NASDAQ: VRSN) is set report earnings after the close today, and First Call has estimates at $0.23 EPS on $231.39M in revenues.  Estimates for next quarter are $0.26 EPS on $240.59M in revenues, and fiscal Dec-2008 estimates are $1.00 EPS on $947.36M in revenues.

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Despite Upgrade, VeriSign Problems May Only Be Starting (VRSN, WWWW, ENTU)

VeriSign inc. (NASDAQ: VRSN) has had more than a tough week.  Shares are seeing a winning day so far as it was upgraded this morning over at R.W.Baird to an Outperform rating.  While we did expect someone to upgrade the stock based upon price/valuation, we are genuinely concerned here that VeriSign’s problems may still have more life in the legs. 

Just two weeks ago, we issued a SPECIAL SITUATION alert to our newsletter subscribers with a short sell or put option strategy based upon many current and recent concerns we have.  We sent out an alert on Monday night asking for holders to cover HALF of the position.  This gain on Tuesday morning would have been approximately 20% on the stock, but the options trade (DEC08 $32.50 PUTS) would have generated more than a 100% gain.  You can see the actual report sample document here now that this is off of embargo.

Right before the long weekend, the company announced that its CEO was vacating the top spot. While that was the catalyst that prompted our profitable call to bet against it, that is likely the second shoe to drop among many.  Yes, the second.  The first shoe to drop was the April resignation of its CFO and of its Controller simultaneously.  Sorry, but that is more than a flag and cannot just be a coincidence.

So what else is there to not believing the current value of this stock?  Competitors such as Website Pros (NASDAQ: WWWW) (or Web.com), Entrust (NASDAQ: ENTU), Register.com, GoDaddy, 1and1, and others offer far cheaper services, and while we argue that VeriSign is the Rolls Royce of the web we believe that the small business migration growth from the waves of "accidental entrepreneurs" will have to seek lower priced services at shops that offer turnkey solutions.  There is some political risk here after 2009 depending on the US Presidential election, and there are many new domain extensions coming online. 

We also believe that its divesting strategy is taking far too long and is going to generate far less than was initially spent on some of these businesses.  Another isue is teh share buyback, which we believe Wall Street gave the benefit of the doubt over on the entire amount and then some all up front without considering the risks.  The company’s recent expansions may also not pan out for VeriSign as quickly as it hopes.

Lastly, we believe that this last departure puts the bias for a real miss to earnings as a very likely scenario.  That is pure speculation though, as the company didn’t change its May guidance recently on the CEO departure.  We also believe that its operating costs are going to grow, and we also believe that it will have a hard time passing down additional price hikes for domain registration.

There are many risks to staying negative after such a sharp and fast drop.  Butthat is why we believe that only a half position should be maintained in a bet against the company. We have continued to favor Website Pros, Inc. (NASDAQ: WWWW) for our "10 Stocks Under $10" newsletter and just issued a new alert on that one this last weekend.

Risks in staying negative in VeriSign here revolve around the company suddenly selling units that have been on the block, accelerated share repurchases, accelerated and above expectations new orders and expanded orders from key customers, domain growth, and more.

Jon C. Ogg
July 9, 2008

Top 10 Pre-Market Analyst Upgrades (CCJ, EDS, GENZ, GU, QCOM, STLD, RIG, VRSN, WB, XNPT)

These are not all of the upgrades we have seen so far this morning, but here are ten of the top positive analyst calls we have seen so far early this Tuesday morning:

  • Cameco (NYSE: CCJ) raised to Outperform at FBR.
  • Electronic Data Systems (NYSE: EDS) Raised to Neutral from Sell at Goldman Sachs.
  • Genzyme (NASDAQ: GENZ) started as Buy at UBS.
  • Gushan Environmental (NYSE: GU) Raised to Buy at Piper Jaffray.
  • Qualcomm (NASDAQ: QCOM) Started as Buy at Citigroup.
  • Steel Dynamics (NASDAQ: STLD) Raised to Buy from Neutral at UBS.
  • Transocean (NYSE: RIG) Raised to Overweight from Neutral at JPMorgan.
  • VeriSign (NASSDAQ: VRSN) Raised to Outperform from Neutral at Baird.
  • Wachovia (NYSE: WB) Raised to Neutral from Underperform at Merrill Lynch.
  • XenoPort (NASDAQ: XNPT) Raised to Outperform from Market Perform at FBR.

Jon C. Ogg
July 9, 2008

Top 10 Pre-Market Analyst Calls (ADBE, ATI, CAT, HOTT, MOT, NWAC, UAUA, URI, VRSN, VMED)

These are ten of the analyst calls we are focusing on this Thursday morning:

  • Adobe Systems (NASDAQ: ADBE) cut to Neutral at Cowen & Co.
  • Allegheny Tech (NYSE: ATI) Cut to Neutral from Overweight at JPMorgan.
  • Caterpillar (NYSE: CAT) cut to Sell at UBS.
  • Hot Topic (NASDAQ: HOTT) Raised to Outperform from Market Perform at FBR.
  • Motorola (NYSE: MOT) Cut to Underperform from Perform at Oppenheimer.
  • Northwest Airlines (NASDAQ: NWAC) Raised to Overweight from Equalweight at Lehman.
  • UAL Corp. (NASDAQ: UAUA) raised to Overweight at Lehman Brothers
  • United Rentals (NYSE: URI) cut to Neutral at UBS.
  • VeriSign (NASDAQ: VRSN) Cut to Neutral from Overweight at JPMorgan.
  • Virgin Media (NASDAQ: VMED) Raised to Overweight at Morgan Stanley.

Jon C. Ogg
June 5, 2008

Streaming Media Names Industry Hall Of Fame, 24/7 Wall St. Editor Lands A Spot (MSFT)(RNWK)(AKAM)(GE)(CMCSA)

Streaming Media Magazine and Streamingmediia.com have released their list of the twenty-five most important people in in the streaming media industry over the last decade.

“I suppose if you extend the baseball metaphor, these 25 people would really make up the streaming media hall of fame,” said Eric Schumacher-Rasmussen.

According to Streaming Media "We began the selection process by issuing a call for nominations on StreamingMedia.com and to our Streaming Media discussion lists. From a list of more than 75 nominees, we picked the 25 who most clearly fit the bill, either for the technology they’ve created and advanced or the ways in which they’ve implemented solutions as end users."

The list includes Rob Glaser, CEO of Real Networks (RNWK), Stephen Condon, head of marketing at Verisign (VRSN), Michael Gordon, founder of Limelight Networks (LLNW), George Kliavkoff, Chief Digital Officer of GE’s (GE) NBC Universal division, Tom Leighton, co-founder of Akamai Technologies (AKAM), Andrew Olson, SVP Comcast (CMCSA) Interactive Media, Ben Waggoner, Silverlight division of Microsoft (MSFT), and Douglas A. McIntyre, Editor of 24/7 Wall St.

Yahoo! Guidance Needs More Ying Than Yang (YHOO)

Yahoo! (NASDAQ: YHOO) has posted results of $0.15 EPS on revenues of $1.403 Billion (on an ex-TAC basis).  Consensus estimates from First Call were $0.11 EPS & $1.41 Billion Revenues.   As far as guidance, Yahoo! said that  revenues will be in a range of $1.28 to $1.38 Billion versus estimates of $1.37 Billion Revenues; for fiscal 2008 Yahoo! is placing revenues in a range of $5.35 to $5.95 Billion, although estimates were $5.90 Billion in revenues.

  • Jerry Yang, CEO: “While we will continue to face headwinds this year, we believe that the moves we are making will help us exit 2008 stronger and more competitive and return to higher levels of operating cash flow growth in 2009.”  Hmm, that isn’t exactly an a$$-kicking comment.
  • Yahoo! also issued a release saying it has named Ari Balogh as Chief Technology Officer, and he is formerly the CTO of VeriSign (NASDAQ:VRSN). 
  • It is also expanding and extending its AT&T pact for wireless and PC screens.

Analysts still have a price target of roughly $32.00, and it will be interesting to see what happens to this price target tomorrow morning after analysts get to key in.  Last week we outlined an "earnings trifecta" where we compared and contrasted the earnings of Yahoo! (YHOO) for today, Amazon.com (NASDAQ: AMZN) for Wednesday, and Google (NASDAQ: GOOG) on Thursday. 

Yahoo! stock managed to climb back from being down over 2% today to close up $0.03 at $20.81 on 59 million shares and this stock has traded in a 52-week trading range of $18.72 to $34.08.  After the earnings report, Yahoo! stock is traded down 8% to $19.05 before recovering a bit to be down about 6% at $19.52 on last look in after-hours trading.

Maybe Jerry Yang will exert a bit more authority than this in the conference call.  It’s not too late, and it’s obvious that Yahoo! shareholders have proven over and over that they are willing to be patient.  We think layoffs are probably a part of a strategic plan, so hopefully his verbal comments will be more authoritative than the written outlook offered in their press release.

Jon C. Ogg
January 29, 2008

Top 10 Pre-Market Analyst Calls (AMGN, ENP, NTAP, PT, QCOM, SWIR, VCLK, VRSN, WY)

These aren’t all of the impact analyst calls, but these are the key calls that 24/7 Wall St. is focusing on:

  • Amgen (AMGN) raised to overweight at Lehman.
  • Encore Energy (ENP) started as Overweight at Lehman.
  • Network Appliances (NTAP) raised to Peer Perform at Bear Stearns; estimates raised at Goldman Sachs.
  • Portugal Telecom (PT) raised to Peer Perform at Bear Stearns, but cut to Hold at Citigroup.
  • Qualcomm (QCOM) earnings estimates cut at Goldman Sachs.
  • Sierra Wireless (SWIR) cut to Market Perform at Piper Jaffray.
  • ValueClick (VCLK) raised to Buy from Hold at Citigroup.
  • VeriSign (VRSN) cut to Hold from Buy at WR Hambrecht.
  • Weyehaueser (WY) raised to Buy at Lehman.

Jon C. Ogg
November 15, 2007

Internet Short Sellers Mixed Bag (EBAY, GOOG, VCLK, YHOO, AZMN, BIDU, VRSN)

Overall short selling has dimished for August, but it appears the short sellers are sticking around for a fight in some of the go-to internet stocks.

DECREASED SHORT INTEREST:

  • Google (GOOG)            5.124M     -5.19%
  • eBay (EBAY)                 30.013M   -15.7%
  • ValueClick (VCLK)        8.739M    -15.57%
  • Yahoo! (YHOO)            51.250M    -17.68%

INCREASED SHORT INTEREST:

  • Amazon.com (AMZN)   38.152M +6.51%
  • Baidu.com                      3.051M  +9.02%
  • VeriSign (VRSN)         16.305M  +76.00%

Related articles to this:

Jon C. Ogg
September 26, 2007

September Nasdaq Short Interest

Short interest in several large Nasdaq traded companies fell sharply in September. The figures are calculated as of September 14 and are compared to numbers from August 15, 2007.

Short interest in Level 2 (LVLT) fell 6.3 million to 123 million. Comcast (CMCSA) short interest fell 16.1 million shares to 97.2 million. Shares sold short in Yahoo! (YHOO) dropped 11 million to 51.3 million.

Stocks that saw large increases in short interest included Sun Microsystems (JAVA) where share short hit 89.5 million, up 28.5 million.

Largest Short Positions

Company                                       Shares Short

Level 3                                           123 milllion shares short

Comcast                                          97.1 million

Charter (CHTR)                                 95.4 million

Microsoft (MSFT)                              83.0 million

Sirius (SIRI)                                      81.1 million

Intel (INTC)                                       74.4 million

Sun                                                 69.5 million

Yahoo!                                             51.3 million

Cisco (CSCO)                                   48.3 million

Oracle (ORCL)                                  43.2 million

Symantec (SYMC)                            39.0 million

Amazon (AMZN)                               38.2 million

Largest Increases

Sun                                                  28.4 million

Atmel (ATML)                                    22.2 million

RF Micro (RFMD)                              10.5 million

Network Appliance (NTAP)                  8.8 million

Verisign (VRSN)                                7.0 million

Take-Two (TTWO)                              6.1 million

Largest Decreases

Comcast                                           18.1 million share decrease

Microsoft                                           14.1 million share decreae

Appled Materials                                13.1 million

Yahoo!                                              11.0 million

Sirius                                                 9.9 million

Intel (INTC)                                         9.8 million

Cisco                                                 9.1 million

Data from NASDAQ and WSJ

Douglas A. McIntyre

Pre-Market Analyst Calls (July 13, 2007)

AOB started as Outperform at CIBC.
AUY started asOutperform at Credit Suisse.
BGFV cut to Sector Perform at CIBC.
BJ raised to Equal Weight at Lehman.
BLK started as Outperform at Wachovia.
CCL raised to Overweight at JPMorgan.
CHE cut to Hold at Deutsche Bank.
CIT cut to Sector PErform at CIBC.
CREE started as Hold at Deutsche Bank.
DWA started as Buy at Stifel Nicolaus.
EMC cut to Mkt Perform at Morgan Keegan.
FRO cut to Reduce at UBS.
HAL raised to Outperform at Credit Suisse.
HDB started as Buy at Jefferies.
IBN started as Buy at Jefferies.
NATI raised to Overweight at Thomas Weisel.
NDN raised to Buy at Deutsche Bank.
PPDI cut to Hold at Jefferies.
RCL raised to Overweight at JPMorgan.
RNOW started as Hold at Cantor Fitzgerald.
RSH cut to Sell at B of A.
SEB raised to Buy at Jefferies.
SWK started as Neutral at B of A.
SWY raised to Equal Weight at Lehman.
VRSN raised to Buy at Jefferies.
VSCN cut to Mkt Perform at FBR.
WON cut to Sell at Citigroup.
ZBRA raised to Overweight at Thomas Weisel.

Jon C. Ogg
July 13, 2007