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Closing Bell: Jittery on Cisco, G20, and Ireland (CSCO, C. GRRF, DNDN, JNPR, WPI)

Posted Nov 11th 2010 4:20PM by Jon Ogg (RSS feed)
Filed under: Cisco Systems (CSCO), Citigroup Inc. (C), Juniper Networks (JNPR)

Stocks opened lower after a downbeat report from Cisco Systems on its guidance. The G20 meeting of leaders of the industrial and developing countries in Seoul, South Korea, is beginning discussions on world trade and currencies. The currency markets are roiled again, with the US dollar gaining strength against the Euro, primarily on fears that the European Union will have to do something about Ireland's debt. Something like a bailout similar to the Greek bailout of earlier this year.

Here are the unofficial closing bell levels:

Dow Jones 11,283.10 -73.94 (-0.65%)
S&P 500 1,213.54 -5.17 (-0.42%)
Nasdaq 2,555.52 -23.26 (-0.90%)

Top Stock Analyst Calls

Continue reading Closing Bell: Jittery on Cisco, G20, and Ireland (CSCO, C. GRRF, DNDN, JNPR, WPI)

IPO & secondary preview -- Week of July 30, 2007

Posted Jul 30th 2007 9:30AM by Joseph Lazzaro (RSS feed)
Filed under: SEC Filings, Other Issues, Deals, Initial Public Offerings

Wall Street's equity market offers a solid slate this week with 7 IPOs and 4 Secondaries on the docket. Those deals tentatively scheduled to price include:

IPOs:

Thursday

Amedica (AMCA), a 4.65M-share IPO for this artificial joints company. Morgan Stanley, Goldman Sachs, and Lehman Brothers are the lead managers. Filing range: $13.00-$15.00.
Concho Resources (CXO), a 21.2M-share IPO for this oil and gas company. JP Morgan Chase, Bank of America and Lehman Brothers are the lead managers. Filing range: $14.00-$16.00.
Dolan Media (DM), a 10.5M-share IPO for this media services company. Goldman Sachs and Merrill Lynch are the lead managers. Filing range: $13.50-$15.50.
Genpact (G), a 35.3M-share IPO for this information technology services company. Morgan Stanley, Citigroup, and JP Morgan Chase are the lead managers. Filing range: $16.00-$18.00.
NanoDynamics (NDMX), a 6.6M-share IPO for this specialty chemicals company. Jefferies is the lead manager. Filing range: $12.00-$14.00.
Sucampo Pharmaceuticals (SCMP), a 3.75M-share IPO for this pharmaceutical company. Cowen is the lead manager. Filing range: $14.00-$16.00.
Virtusa (VRTU), a 4.4M-share IPO for this information technology services company. JP Morgan Chase is the lead manager. Filing range: $14.00-$16.00.

Continue reading IPO & secondary preview -- Week of July 30, 2007

Analyst downgrades 3-13-07: RadioShack & Marvell Technology downgraded today

Posted Mar 13th 2007 11:24AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, , RadioShack Corp (RSH), Marvell Technology Group (MRVL)

MOST NOTEWORTHY: Some of today's more notable downgrades include Accredited Home Lenders Holding Co (LEND), RadioShack Corp (RSH) and Shuffle Master, Inc (SHFL):

Keefe Bruyette cut Accredited Home Lenders Holding Co (NASDAQ: LEND) to Underperform from Market Perform, saying the downturn in the subprime market raised liquidity concerns on the stock.

RBC downgraded RadioShack Corp (NYSE: RSH) to Underperform from Sector Perform, explaining that cost cutting measures are largely complete and margin expansion estimates are too aggressive.

Shuffle Master Inc (NASDAQ: SHFL) was downgraded to Hold from Buy at Jefferies, citing the lack of visibility into the company's placements and potential IP protection risk in Macau. Shuffle Master was also cut to Underperform from Peer Perform at Bear Stearns following the company's announcement that it will have to restate prior financial results.

OTHER DOWNGRADES:

UBS downgraded shares of Marvell Technology Group (NASDAQ: MRVL) to Reduce from Buy, citing risks to HDD demand given upcoming launches by Apple (NASDAQ: AAPL) of NAND-based Video iPods. The analyst expects HDD weakness to phase in and not collapse, but sees limited growth in the HDD segment.

Roth Capital cut WPT Enterprises, Inc (NASDAQ: WPTE) to Sell from Hold, citing valuation, reduced earnings expectations and execution risk related to bringing the online gaming business in house.