Analyst upgrades:

• Barclays believes Procter & Gamble's (NYSE: PG) portfolio mix provides better leverage to stabilizing macro trends. The firm upgraded shares to Overweight from Equal weight and raised its target to $60 from $56. Note the firm downgraded Colgate (NYSE: CL) to Equal Weight from Overweight.
• Deutsche Bank upgraded McDonald's (NYSE: MCD) to Buy from Hold as it finds the risk/reward on shares compelling at current levels and sees upcoming catalysts from McCafe and easing commodity pressures. The firm raised its target price to $65 from $60.
• FBR Capital upgraded Talbots (NYSE: TLB) to Outperform from Market Perform to reflect an attractive risk/reward, reduced risk of a bankruptcy, and merchandise improvements. The firm raised its target price to $4 from $2.
• Nokia (NYSE: NOK) was upgraded to Buy from Hold at Deutsche Bank.
• Analog Devices (NYSE: ADI) was upgraded to Neutral from Underperform at Baird.

Continue reading Analyst upgrades, downgrades and initiations: PG, MCD, TLB, CL, JTX, HD, IPCM, MYRG and NFLX

Analyst upgrades, downgrades and initiations: PG, MCD, TLB, CL, JTX, HD, IPCM, MYRG and NFLX originally appeared on BloggingStocks on Wed, 20 May 2009 10:30:00 EST. Please see our terms for use of feeds.

Continue reading Credibility and transparency in the Pink Sheets market?

Credibility and transparency in the Pink Sheets market? originally appeared on BloggingStocks on Tue, 14 Apr 2009 11:10:00 EST. Please see our terms for use of feeds.

Beyond the torment it has already caused in the Carribbean and the stress it places on those who are evacuating the Gulf Coast, hurricane Gustav will lead to higher prices at the pumps. That's because the majority of the Gulf of Mexico's oil production is shut down in anticipation of Gustav's force.

Exactly how much production is being shut down? CNNMoney reports that "energy producers have shut in approximately 77% of oil output and 37% of natural gas production in the Gulf of Mexico." This is affecting three producers particularly hard -- Royal Dutch Shell PLC (NYSE: RDS.A), BP PLC (NYSE: BP) and Chevron Corp. (NYSE: CVX).

And the production shut-down is significant -- "nearly 1 million barrels of daily oil production is now shut down. The last time this happened was in November 2005, after Hurricanes Katrina and Rita. In addition, 2.75 billion cubic feet of daily natural gas production is now shut down" according to CNNMoney.

Continue reading Gustav could cost you $5 a gallon at the pumps

Gustav could cost you $5 a gallon at the pumps originally appeared on BloggingStocks on Sun, 31 Aug 2008 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• People with the matter said that Ken Wilson, The Goldman Sachs Group Inc's (NYSE: GS) most senior financial-institutions broker, will temporarily exit the firm, the Wall Street Journal reported, in an effort to advise Treasury Secretary Henry Paulson on how to resolve the country's banking crisis.
• The American Federation of State, County, and Municipal Employees, a union with a stake in Citigroup Incorporated (NYSE: C) called for the financial services company to break itself up. The Financial Times reported that the demand will almost definitely be rejected by Citigroup.

• Treasury Secretary Henry Paulson's plan for rescuing Federal National Mortgage Association (NYSE: FNM) -- Fannie Mae -- and Federal Home Loan Mortgage Corporation (NYSE: FRE) -- Freddie Mac -- calls for the creation of a new regulatory agency that would seek to assert more stringent control over the banks and lessen the damage they could cause to the American financial system, the New York Times reported.
• The Daily Telegraph reported that BP Plc (NYSE: BP) blocked a $1.8B dividend payment to its Russian partners in the TNK-BP joint venture.

• According to paidContent.org, now that its cash on hand exceeds its market cap, speculation that Napster Inc (NASDAQ: NAPS) could be a takeover target heated up.

Newspaper wrap-up: Union wants Citigroup to break itself up originally appeared on BloggingStocks on Mon, 21 Jul 2008 08:57:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• A loss of confidence in the government sponsored mortgage firms Federal National Mortgage Association (NYSE: FNM), or Fannie Mae, and Federal Home Loan Mortgage Corporation (NYSE: FRE), or Freddie Mac, resulted in both companies shares plunging about 15% to 14 year lows. Because the two are the largest providers of funding for mortgages in the U.S., their troubles are significant as both may have to issue billions of dollars in stock to save themselves, diluting current shareholders, according to the Wall Street Journal.
• For 75 years the NFL's Pittsburgh Steelers have been owned by the Rooney family, but that may now change as the Wall Street Journal reported that the family is seeking to sell the football team which is valued at about $1.2B. One potential buyer is Stanley Druckenmiller, a billionaire, and chairman of Duquesne Capital Management in Pittsburgh.
• British Prime Minister Gordon Brown yesterday raised the issue of visa problems facing BP Plc (NYSE: BP) employees in Russia with Russian President Dmitry Medvedev, but Medvedev did not make any concessions on the issue, according to the Financial Times. Some people have suggested that BP's billionaire partners in its Russian joint venture, TNK-BP, have orchestrated the visa problems in order to gain control of the venture.

Newspaper wrap-up: Increasing mortgage defaults send Fannie, Freddie shares to 14 year lows originally appeared on BloggingStocks on Tue, 08 Jul 2008 08:00:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• In a cost cutting move, struggling automaker Chrysler said it will idle its St. Louis South minivan plant in October, and will reduce operations at its St. Louis North Dodge Ram pickup truck plant to one shift in September, the Wall Street Journal reported. About 2,400 people will lose their jobs at both plants.
• In an unprecedented move, the Justice Department is pressuring UBS AG (NYSE: UBS), a foreign bank, for the names of wealthy U.S. client who used the bank to avoid paying taxes, reported the Wall Street Journal, and has sought a federal court order to proceed.

• After learning Moscow authorities have refused to renew the work visas of BP Plc's (NYSE: BP) expatriate staff, the New York Times reported that the British oil company may be in danger of losing control of TNK-BP Holding, its Russian joint venture. If the top officials from the BP side of the venture, including the CEO and CFO, are forced to leave, TNK-BP will fall into the hands of its Russian partners.
• In an upheaval aimed at preventing too much power from being exercised by the company's chairman, the UK Times reported that UBS has decided to replace four board directors in October. The governance model, which will separate the roles and responsibilities of the board and executive management, will reportedly come into play immediately and will allow the board to delegate the duties formerly allocated to the chairman's office to board committees.

Newspaper wrap-up: Justice Department wants UBS AG's U.S. clients who allegedly avoided taxes originally appeared on BloggingStocks on Tue, 01 Jul 2008 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Verizon Wireless, a joint venture of Vodafone Group Plc (NYSE: VOD) and Verizon Communications Inc (NYSE: VZ), is in talks to acquire Alltel Corp. in a deal valued at about $27B, the Wall Street Journal reported. If successful, the combined companies would create the largest cellphone company, and would be better positioned to compete against AT&T Inc (NYSE: T).
• Gregory B. Penner, the son-in-law of Wal-Mart Stores Inc (NYSE: WMT) chairman S. Robson Walton, is expected to join the company's board of directors, a move seen as the beginning of a leadership change at the company, according to the Wall Street Journal.
• The Financial Times reported that Singaporean sovereign wealth fund Temasek refused to provide funds to Bear Stearns shortly before Bear's sale to JPMorgan Chase & Co (NYSE: JPM). Temasek reportedly refused the request for practical and political reasons.
• Russia's Interior Ministry questioned the head of BP Plc's (NYSE: BP) Russian oil venture as part of a criminal investigation into possible large-scale tax evasion, the Financial Times reported.

Newspaper wrap-up: Verizon Wireless may acquire Alltel originally appeared on BloggingStocks on Thu, 05 Jun 2008 08:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• According to senior industry sources, the Financial Times reported that the Ministry of Defense could ask General Dynamics Corporation (NYSE: GD) to provide the vehicle design for a new generation of armored vehicles for the army. It is unclear whether General Dynamics, in competition with Nexter and Artec, will be awarded the contract or will be named the preferred bidder.
• Following the collapse in March of The Bear Stearns Companies Inc (NYSE: BSC), the Financial Times also reported that the SEC will soon require Wall Street banks to publicly disclose more details about liquidity and capital positions. Cox also urged lawmakers to pass legislation that would allow the SEC, or another regulator, the "explicit mandate to supervise" investment banks.

• According to the New York Times, Citigroup Incorporated (NYSE: C) will move senior investment banker Alberto Verme to Dubai by the end of the month in the hopes of establishing a stronger foothold in the region, a crucial area for global banks.
• The New York Times also reported that several large oil companies, including BP Plc (NYSE: BP), ConocoPhillips (NYSE: COP) and Chevron Corporation (NYSE: CVX), agreed to pay nearly $423M in cash in order to settle a lawsuit that alleged water contamination from methyl tertiary butyl ether, a gasoline additive. Under the terms of the deal, the oil giants also agreed to pay 70% of the future cleanup costs for the next 30 years. Exxon Mobil Corporation (NYSE: XOM) and several other companies named in the suit did not agree to the deal.

Newspaper wrap-up: General Dynamics may win MoD contract originally appeared on BloggingStocks on Thu, 08 May 2008 08:47:00 EST. Please see our terms for use of feeds.

ConocoPhillips proposes multi-billion Alaskan pipeline originally appeared on BloggingStocks on Fri, 30 Nov 2007 16:30:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Highlights from today's Wall Street Journal (subscription required):
• Wal-Mart Stores Inc (NYSE: WMT) saves itself hundreds of millions in taxes through a complex structure that allows it to pay rent to itself.
• Altria Group (NYSE: MO) is expected to decide later this year on its next spinoff, splitting its U.S. business from its International business.
• Nissan Motor Co ADR's (NASDAQ: NSANY) new models may help it catch up to rival automakers, writes the "Heard in Asia" column.
• The Financial Times (subscription required) reported that Dick Parsons said that spinning off Time Warner Cable is a top priority for Time Warner Inc (NYSE: TWX) this year.

• According to the Associated Press, BP plc (NYSE: BP) will sell its U.K. refinery to Petroplus for $1.4B.
• The New York Post reported that Jones Apparel Group (NYSE: JNY) is contemplating breaking up the company, including a possible IPO for its Barney's chain.
• The Business wrote that ExxonMobil (NYSE: XOM) has begun talks to sell a part or all of its French oil business, valued at about $2.6B.

Newspaper wrap-up 2-1-07: MO, TWX, JNY all discuss spinoffs originally appeared on BloggingStocks on Thu, 01 Feb 2007 09:22:00 EST. Please see our terms for use of feeds.