MOST NOTEWORTHY:

• Citigroup upgraded shares of Potash (NYSE: POT) to Buy from Hold and raised its target to $178 from $141 to reflect their expectation for a more bullish outcome from the ongoing China Potash contract negotiations.
• Cadbury Schweppes (NYSE: CSG) was raised to Overweight from Neutral at JP Morgan to reflect the company's takeout potential and cash returns.
• Oppenheimer raised its rating on Zoran (NASDAQ: ZRAN) to Outperform from Perform on valuation, as they believe the recent weakness is overdone.

• Pep Boys (NYSE: PBY) was upgraded to Market Weight from Underweight at Thomas Weisel.
• JMP Securities upgraded Actuate (NASDAQ: ACTU) to Strong Buy from Outperform.
• Goldman raised Broadcom (NASDAQ: BRCM) to Buy from Neutral.

Analyst upgrades: POT, CSG and ZRAN originally appeared on BloggingStocks on Tue, 05 Feb 2008 09:46:00 EST. Please see our terms for use of feeds.

Justice Department probes chocolate makers originally appeared on BloggingStocks on Fri, 21 Dec 2007 12:33:00 EST. Please see our terms for use of feeds.

Cadbury Schweppes (CSG) to spin off U.S. beverage unit after no buyers emerge originally appeared on BloggingStocks on Wed, 10 Oct 2007 14:10:00 EST. Please see our terms for use of feeds.

Hershey (HSY) - Cadbury Schweppes (CSG) deal in the works? originally appeared on BloggingStocks on Wed, 10 Oct 2007 11:43:00 EST. Please see our terms for use of feeds.

Before the bell: Corporate profits dampen mood -- futures point to lower start originally appeared on BloggingStocks on Wed, 10 Oct 2007 07:47:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Bear Stearns downgraded Cadbury Schweppes Plc (NYSE: CSG) shares to Underperform from Peer Perform as they are less confident the company will achieve its objective of divesting its beverage business at a reasonable price before the end of 2008.
  
• Bear downgraded the food group to Market Weight from Overweight based on valuations and macro economic trends. The firm downgraded Dean Foods Company (NYSE: DF) and Kellogg Company (NYSE: K) to Peer Perform from Outperform.
  
• JP Morgan downgraded shares of Marsh & McLennan Companies Inc (NYSE: MMC) to Neutral from Overweight citing management turnover which will impact the company's operating turnovers.
  
• JMP Securities downgraded Broadcom Corporation (NASDAQ: BRCM) to Market Perform from Outperform on valuation.
  
• Bear Stearns downgraded Groupe Danone (OTC: GDNNY) to Peer Perform from Outperform due to near-term headwinds; the firm prefers Nestle SA (OTC: NSRGY).

• Morgan Stanley downgraded the U.S. mortgage finance stocks to In Line from Attractive.
  
• Keefe Bruyette downgraded Legg Mason Inc (NYSE: LM) to Market Perform from Outperform.
  
• MercadoLibre Inc (NASDAQ: MELI) was downgraded at Merrill Lynch to Neutral from Buy.
  
• Oppenheimer downgraded Michael Baker Corporation (AMEX: BKR) to Neutral from Buy.

Analyst downgrades: CSG, DF, K, MMC, BRCM and DA originally appeared on BloggingStocks on Tue, 25 Sep 2007 11:12:00 EST. Please see our terms for use of feeds.

Campbell (CPB) seeks big bucks for Godiva Chocolatier originally appeared on BloggingStocks on Fri, 14 Sep 2007 11:15:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Cadbury Schweppes PLC (NYSE: CSG) was downgraded to Equal-Weight from Overweight at Lehman Brothers to reflect lower-than-expected value from Cadbury's American Beverages sale or demerger.
• Friedman Billings removed Parker Hannifin Corporation (NYSE: PH) from its Top Picks List, citing valuation.
• Christopher & Banks Corporation (NYSE: CBK) was downgraded to Sector Performer from Outperformer at CIBC World Markets following the unexpected departure of CEO Matthew Dillon. Suntrust downgraded shares of the stock to Neutral from Buy citing pressure in the retail sector.
• KeyBanc lowered shares of Benihana Inc (NASDAQ: BNHNA) to Buy from Aggressive Buy following the company's Q2 results.
• Sears Holdings Corporation (NASDAQ: SHLD) was downgraded to Peer Perform from Outperform at Bear Stearns citing a continued deterioration in fundamentals and challenging outlook...

• Brocade Communications Systems Inc (NASDAQ: BRCD) was removed from JP Morgan's Focus List; the firm maintained its Outperform rating.
• Goldman Sachs downgraded Renovis Inc (NASDAQ: RNVS) to Sell from Neutral.
• Raymond James downgraded shares of Amedisys Inc (NASDAQ: AMED) to Outperform from Strong Buy and shares of Restoration Hardware Inc (NASDAQ: RSTO) to Underperform from Market Perform.
• Biogen Idec Incorporated (NASDAQ: BIIB) was downgraded to Hold from Buy at BWS Financial.

Analyst downgrades 8-31-07: CSG, PH, CBK, BNHNA and SHLD originally appeared on BloggingStocks on Fri, 31 Aug 2007 11:10:00 EST. Please see our terms for use of feeds.

When BloggingStocks contributor Georges Yared recently took a look at lenders that could rise up out of the recent subprime-related credit mess, he focused on Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC), and US Bancorp (NYSE: USB) as strong contenders.

Well, the European markets have been struggling with many of the same credit concerns as in the U.S. Morningstar (NASDAQ: MORN) has gone looking for investment opportunities in European markets, and found such contenders as Alcatel-Lucent (NYSE: ALU), France Telecom (NYSE: FTE), and Cadbury Schweppes (NYSE: CSG). However, like Mr. Yared, Morningstar analysts found themselves focusing on a pair of wide-moat lenders that had been unfairly punished by reactions to the current problems.

Continue reading Morningstar finds strength in European lenders

Morningstar finds strength in European lenders originally appeared on BloggingStocks on Tue, 28 Aug 2007 15:10:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK.A) acquired a stake in Kraft Foods Inc (NYSE: KFT) that was below 5%, the Wall Street Journal (subscription required) reported.
• R.H. Donnelley Corporation (NYSE: RHD) has paid about $350M for Business.com, the marketing directory Web company, beating out Dow Jones & Co. (NYSE: DJ) and the New York Times Company (NYSE: NYT) in the process, according to the Wall Street Journal.
• Callaway Golf Company (NYSE: ELY), which closed Wednesday at about $17.42, could swing lower as the peak summer season wanes amid continued concern about overall consumer discretionary spending, according to Barron's Online's (subscription required) "Weekday Trader" section.

• The U.K. Times reported that the global debt market crisis may delay or cancel the sale of Cadbury Schweppes plc's (NYSE: CSG) U.S. drinks arm.
• Coca-Cola (NYSE: KO), Wipro Limited (NYSE: WIT) and Danone are in talks with Ramesh Chauhan to buy Bisleri, the bottled water brand that has become a generic name for the product category, reported the Economic Times.

Newspaper wrap-up 7-26-07: Berkshire invests in Kraft originally appeared on BloggingStocks on Thu, 26 Jul 2007 09:15:00 EST. Please see our terms for use of feeds.

Coke may look to 'Snap' up drinks unit originally appeared on BloggingStocks on Thu, 05 Jul 2007 13:40:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal reported that The ServiceMaster Company (NYSE: SVM) has shelved its $1.15B sale of junk bonds that would help to pay for the LBO of the company due to "investor nervousness."
• The Wall Street Journal reported that eBay Inc (NASDAQ: EBAY) has quietly opened a classified ad site in the U.S., which would rival Craigslist.
• According to people familiar with the situation, The Coca-Cola Company (NYSE: KO) has approached several private-equity firms that are involved in the bidding for Cadbury Schweppes plc's (NYSE: CSG) U.S. drinks business, reported the Wall Street Journal.

• Research in Motion Limited (NASDAQ: RIMM) has been given clearance to sell its BlackBerry device in China, reported the New York Times.
• Big names like International Business Machines Corporation (NYSE: IBM), Infosys Technologies Limited (NASDAQ: INFY), TCS and The Blackstone Group LP (NYSE: BX) are opting out of the bidding race for Citigroup Incorporated's (NYSE: C) BPO arm, reported the Times of India.

Newspaper wrap-up 7-05-07: Research in Motion to sell BlackBerries in China originally appeared on BloggingStocks on Thu, 05 Jul 2007 09:20:00 EST. Please see our terms for use of feeds.

An acquisition of Snapple would look like a step down from the Vitamin Water deal, unless it can be had at a great price, which is unlikely. Americans are becoming increasingly focused on healthier, lower-calorie alternatives to soda and Snapple beverages really aren't much lower in calories or sugar than most sodas.

The brand has tremendous value and is probably the leader in its category, but is not destined for the kind of long-term growth that Vitamin Water will see. Vitamin Water was Coke's largest acquisition ever, and buying another big brand like Snapple would mean that the company is on a bona fide buyout binge. Such binges seldom lead to an increase in shareholder value.

Will Coca-Cola gulp down Snapple? originally appeared on BloggingStocks on Thu, 05 Jul 2007 08:10:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Citigroup downgraded shares of Cadbury Schweppes (NYSE: CSG) to Hold from Buy as they see limited upside now that the company is close to divesting its beverage division.

• Adobe (NASDAQ: ADBE) was cut to Neutral from Buy at Goldman and was removed from the Americas Buy List as they do not believe revenue growth will significantly top 17% this year and may not meet investors high expectations.

• Soleil downgraded shares of Verizon Communications (NYSE: VZ) to Sell from Hold on valuation as they think the stock is trading near the high end of a reasonable trading range. They believe shares are due for a 10%-15% correction.

• Merrill expects carbon steel prices to come under pressure in Q3, sending Arcelor-Mittal (NYSE: MT) shares to Neutral from Buy...

• Lehman cut Human Genome Sciences (NASDAQ: HGSI), Millennium Pharmaceuticals (NASDAQ: MLNM) and Biogen Idec Inc (NASDAQ: BIIB) to Equal Weight from Overweight.

• Stifel cut U.S. Xpress Enterprises (NASDAQ: XPRSA) to Hold from Buy.

• Calyon downgraded SkyWest, Inc (NASDAQ: SKYW) to Neutral from Buy.

Analyst downgrades 6-26-07: ADBE, BIIB, CSG and VZ originally appeared on BloggingStocks on Tue, 26 Jun 2007 10:35:00 EST. Please see our terms for use of feeds.

• Conveniently buried in the release, which quickly became the headline, was the 15% job reduction -- or about 7,500 layoffs. The company added that it would look to close 15% of its confectionery factories by 2011 as part of an austerity plan. These steep cuts are expected to save the company up to an estimated GBP300M.
• Also of note, after receiving "expressions of interest," the company said it would most likely sell its American business unit rather than demerge it.

An update on Cadbury originally appeared on BloggingStocks on Tue, 19 Jun 2007 17:00:00 EST. Please see our terms for use of feeds.

• Sale of U.S. drinks business: The company is expected to announce a sale of its U.S. drinks business, which includes 7-Up and Snapple. The New York Times reported that it is currently unclear which bidder is in the lead for the unit - bids came from a group led by Cott, a consortium that included Thomas H. Lee Partners and TPG and a third consortium led by Blackstone Group and KKR. Other possible candidates for the unit could include The Hershey Company (NYSE: HSY) or Tootsie Roll Industries Inc (NYSE: TR), in a deal that could value the unit as high as $16B. Other sources believe Kraft Foods Inc (NYSE: KFT) and Wm. Wrigley Jr. Company (NYSE: WWY) could be potential bidders; Kraft, JP Morgan believes, would have an edge over Wrigley due to greater funding, flexibility and synergies.

Continue reading Cadbury to update investors tomorrow

Cadbury to update investors tomorrow originally appeared on BloggingStocks on Mon, 18 Jun 2007 16:45:00 EST. Please see our terms for use of feeds.

• At 8:30 a.m., the Commerce Department will report May retail sales. Economists expect sales to have risen 0.6% in May, compared with a decline of 0.2% in April.
• At 10:00 a.m., April business inventories is due and is expected to show an increase of 0.3% in April after a 0.1% decline in March.
• At 2:00 p.m., the Beige Book, where the Federal Reserve describes economic conditions in regions around the country, will be released.
• Finally, at 10:30 a.m., weekly U.S. fuel inventory will be reported. Oil prices slipped ahead of the report as the expectation is the inventory data would show gasoline stockpiles rose last week.
  

Before the bell 6-13-06: Futures rise ahead of economic data originally appeared on BloggingStocks on Wed, 13 Jun 2007 08:01:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal reported that the Bancroft family, which controls 64% of Dow Jones & Company Inc's (NYSE: DJ) voting power, said that it would meet with News Corporation (NYSE: NWS) to discuss its $5B bid for the company, but would also consider other bidders and options.
• The Wall Street Journal reported that The Coca-Cola Company (NYSE: KO) is attacking their sluggish performance by focusing on their bottler network in 200 countries, a move executives believe is important to the company's long-term health.
• Cadbury Schweppes ADS (NYSE: CSG) may soon announce a cost-cutting exercise worth nearly GBP300M that could feature closure of factories and job cuts, the Financial Times reported.
• Barron's Online's "Inside Scoop" column reported that Michael E. Marks, the chairman of Flextronics International Ltd (NASDAQ: FLEX), a director at SanDisk Corporation (NASDAQ: SNDK) and a new director of Sun Microsystems Inc (NASDAQ: SUNW), has made a $1M investment in Sun, the largest by an insider since August 2004.

• Retail giant Wal-Mart Stores Inc (NYSE: WMT), which has been on an "expansion craze" for decades, has decided to make a gradual slowdown in U.S. store expansion, and may embark on an initiative to return to more basic apparel offerings and an emphasis on low prices, the New York Post reported.

Newspaper wrap-up 6-1-07: Bancroft family to meet with News Corp originally appeared on BloggingStocks on Fri, 01 Jun 2007 09:15:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• JP Morgan upgraded shares of the New York Times Co (NYSE: NYT) to Neutral from Underweight to reflect easier advertising sales comparisons the rest of the year and the possibility for a stepped-up buyback program.

• Friedman Billings upgraded New York Community Bancorp (NYSE: NYB) to Market Perform from Underperform with an $18 target.

• Bernstein upgraded shares of Cadbury Schweppes (NYSE: CSG) to Outperform from Market Perform and revised its sum-of-the-parts and "real options" analysis. The firm still sees major upside and limited downside at these levels.

• Matrix believes higher selling prices and lower costs are improving profit margins at International Paper (NYSE: IP).

• TurboChef Technologies (NASDAQ: OVEN) was upgraded to Sector Perform from Underperform following Q1 results...

• Citigroup upgraded H.J. Heinz Co (NYSE: HNZ) to Buy from Hold with a $52 target.

• AG Edwards raised Corporate Office Properties Trust (NYSE: OFC) to Buy from Hold.

• Baird transitioned coverage of Pike Electric Corp (NYSE: PEC) with an Outperform rating, up from Neutral.

• Medical Properties Trust, Inc (NYSE: MPW) was upgraded to Buy from Hold at Stifel.

• Buckingham raised Eaton Corp (NYSE: ETN) to Strong Buy from Accumulate.

Analyst upgrades 5-24-07: CSG, HNZ, IP, NYT and OVEN originally appeared on BloggingStocks on Thu, 24 May 2007 11:17:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Google Inc (NASDAQ: GOOG) and online services company Salesforce.com Inc (NYSE: CRM) may form a partnership to better compete with Microsoft Corporation (NASDAQ: MSFT), reported the Wall Street Journal (subscription required).
  

• The U.K. Times reported that Warner Music Group Corporation (NYSE: WMG) is expected to offer EMI Group (OTC: EMIPY) a "£100 million sweetener" to try and keep the company from accepting an offer from private equity.
• According to The Observer, Royal Bank of Scotland (OTC: RBSPY), along with its partners Fortis and Banco Santander Central Hispano (NYSE: STD), hope to "table" a £47 billion offer for ABN Amro Holdings (NYSE: ABN) this week.
• The Observer reported that a private equity consortium is considering a $15 billion offer for Virgin Media Inc (NASDAQ: VMED).
• Cadbury Schweppes ADS (NYSE: CSG) is planning to return £5 billion to shareholders through a special dividend or share buyback, according to The Observer.
• The Sunday Telegraph reported that UBS AG (NYSE: UBS) will offer to buy out the pension schemes of some of the leading FTSE100 companies next week.
• Yahoo! Inc (NASDAQ: YHOO) may be looking to acquire British social networking site Bebo, the Sunday Telegraph reported.
• The Bollywood film producer, Eros International, is expected to announce a partnership with Google Inc's (NASDAQ: GOOG) YouTube, the Sunday Telegraph reported.
• Teva Pharmaceutical Industries Limited's (NASDAQ: TEVA) Copaxone will face generic competition for the first time, but will not see an impact immediately, Ha'aretz reported.

• The Orange County Register blog looked at a transcript from IndyMac Bancorp Inc's (NYSE: IMB) first quarter conference call, where the CEO Michael Perry said: "When you see that delinquency number in the press of 13% subprime delinquencies, it's hugely understated. It is absolutely hugely understated. And the prime delinquencies are overstated. The subprime delinquencies are more like 18, 20, 22% delinquencies and that's where I think you're going to see the problems."

Newspaper wrap-up 5-21-07: Google may form partnership with Salesforce.com originally appeared on BloggingStocks on Mon, 21 May 2007 09:20:00 EST. Please see our terms for use of feeds.