This last week was a bad end to a bad quarter and the research calls were very mixed. We went through the numerous upgrades and downgrades to identify which calls were insightful as well as to identify some of the big winning calls and the losing calls.
The top analyst calls of the last week from Wall Street research firms were in the following: Advanced Micro Devices Inc. (NYSE: AMD); Amazon.com Inc. (NASDAQ: AMZN); Apple Inc. (NASDAQ: AAPL); Charter Communications Inc. (NASDAQ: CHTR); Comerica Incorporated (NYSE: CMA); Great Plains Energy Incorporated (NYSE: GXP); Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR); Netflix, Inc. (NASDAQ: NFLX); Riverbed Technology, Inc. (NASDAQ: RVBD); Teva Pharmaceutical Industries Limited (NASDAQ: TEVA); United Technologies Corporation (NYSE: UTX); and Valero Energy Corporation (NYSE: VLO).
Advanced Micro Devices Inc. (NYSE: AMD) was a stock that burned UBS this week pretty bad. On Raised came word that UBS raised the rating to Buy. On Wednesday the company dropped the hammer that it is having manufacturing issues that is enough for a lower revenue and margin forecast. Shares went from close to $6.50 up over $6.60 the following day, but the stock closed out te week at $5.08 and hit a new 52-week low of $5.07 on Friday as well. Too bad, but AMD was a bad break for UBS and it took at least 4 downgrades after the news.
Amazon.com Inc. (NASDAQ: AMZN) was maintained with a “Buy” rating and with $255 target at Bank of America Merrill Lynch this last week after the new Kindles were released. There is just one problem, we noted over the weekend that Amazon doesn’t appear to be making money off the new products.