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Closing Bell: The bull returns ahead of earnings (GE, WFC, FOLD, CIEN, VG)

Posted Oct 5th 2009 4:00PM by Jon Ogg (RSS feed)
Filed under: General Electric (GE), Ciena Corp (CIEN), Wells Fargo (WFC), Vonage Holdings (VG)

Last week's sleeping bull market was brought back to a woken bull market. Despite warnings from Nouriel Roubini that things were up too much too fast, the services sector actually came in above the expansion line after 11 straight months of contraction. This caused most of the excitement for the day.

Here were today's unofficial closing bell levels:

DJIA
S&P500
NASDAQ

Today's top analyst upgrades and top analyst downgrades
Today's top day trader alerts
Today's top rumors

Continue reading Closing Bell: The bull returns ahead of earnings (GE, WFC, FOLD, CIEN, VG)

Analyst initiations 6-06-07: AW, RSG and WMI

Posted Jun 6th 2007 10:35AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Caterpillar (CAT), Ciena Corp (CIEN), Analyst initiations, Deere and Co (DE), Eaton Corp (ETN)

MOST NOTEWORTHY: The environmental services sector, the machinery and capital goods sector and several bank holding companies were today's noteworthy initiations:

Credit Suisse initiated shares of Allied Waste Industries Inc (NYSE: AW), Republic Services Inc (NYSE: RSG) and Waste Management Inc (NYSE: WMI) with Outperform ratings and a $16 target, $35 target and $45 target, respectively.
Bernstein initiated the machinery and capital goods sector, initiating shares of Caterpillar Inc (NYSE: CAT) and Illinois Tool Works Inc (NYSE: ITW) with Outperform ratings and a $100 target and $68 target, respectively and Deere & Company (NYSE: DE), Eaton Corporation (NYSE: ETN), Ingersoll-Rand Company Ltd (NYSE: IR) and Parker-Hannifin Corporation (NYSE: PH) with Market Perform ratings.
Sandler initiated shares of Preferred Bank Los Angeles CA (NASDAQ: PFBC) and UCBH Holdings, Inc (NASDAQ: UCBH) with Buy ratings and shares of Cathay General Bancorp (NASDAQ: CATY) and East West Bancorp, Inc (NASDAQ: EWBC) with Hold ratings.

OTHER INITIATIONS:

Golfsmith International Holdings Inc (NASDAQ: GOLF) was initiated at Wedbush with a Buy rating and $8.75 target, as the firm believes the company is an attractive growth story and buyout candidate.
Pharmasset Inc (NASDAQ: VRUS) was initiated with a Buy rating and $12 target at Banc of America, as the firm believes Clevudine has the potential to be best in class for the treatment of the hepatitis B virus.
Ciena Corporation (NASDAQ: CIEN) was initiated with an Outperform rating and $40 target at Piper Jaffray.

Private equity shifts gears to technology

Posted Jun 5th 2007 10:30AM by Eric Buscemi (RSS feed)
Filed under: Ciena Corp (CIEN), Sun Microsystems (JAVA), Palm Inc (PALM), Bargain stocks

Private equity and investors in general are beginning to open up their pocketbooks for technology. Palm Inc (NASDAQ: PALM) announced a deal with Elevation Partners which agreed to invest $325 million for a 25 percent stake in Palm.

Also, Avaya Inc (NYSE: AV) is being picked up for a nice premium, $17.50 per share or $8.2 billion by Silver Lake Partners and TPG Capital.

Ciena Corporation (NASDAQ: CIEN) went to market and issued $450 million in convertible debt. And earlier this year, Sun Microsystems Inc (NASDAQ: SUNW) picked up cash from Kohlberg Kravis Roberts in the form of a convertible stock.

Slowly but surely, private equity and investor interest in technology is picking up. This could be the very early stages of a big bull market run for tech stocks.

Ciena Corporation: Lightwaves are back in demand

Posted Jun 1st 2007 8:45AM by Eric Buscemi (RSS feed)
Filed under: Earnings reports, Bargain stocks, Stocks to Buy

Ciena Corporation (NASDAQ: CIEN) yesterday reported 17.2% sequential growth, topping guidance of 5% to 10% growth. EPS was a massive $0.26, for a company that has been flirting with the break-even level for years. Results seem to show a big breakthrough for this long-time tech turnaround story.

What drove the stock higher in after-hours trading is company guidance. Management guided to 10% operating margins, a 290 basis point increase, much stronger than expected. Also gross margins could revisit the mid-40% level.

Ciena also turned operating cash flow positive in the quarter, generating $38 million in cash, up from a $16.6 million cash drain in the previous quarter.

Ciena will be a massive cash flow generator as operating leverage kicks in. Pay up for this stock and hold it for the next 12 to 18 months.

Newspaper wrap-up 5-31-07: Morgan Stanley to buy Investa

Posted May 31st 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Coca-Cola (KO), Morgan Stanley (MS), Alcatel-LucentADS (ALU)

MAJOR PAPERS:

Brocade Communications Systems Inc (NASDAQ: BRCD) will pay a $7M penalty to settle allegations that it issued stock option grants improperly, according to the Wall Street Journal.
The Wall Street Journal reported that The Coca-Cola Company (NYSE: KO) and Cargrill have joined together to market Rebiana, a new calorie-free natural sweetener.
The Financial Times reported that Morgan Stanley (NYSE: MS) is set to acquire Australia's Investa Property Group for A$4.7B in cash, a move that will boost its real estate presence in the Asia-Pacific region.
Barron's Online's "Weekday Trader" reported that tech stocks could see a "meltup" this summer and those worth evaluating for a possible purchase may include Ciena Corporation (NASDAQ: CIEN) and Alcatel-Lucent ADS (NYSE: ALU).
According to SEC data, Orbis Management Investment crossed the 10% ownership threshold of Cheniere Energy Inc (AMEX: LNG) on May 10 and purchased another 112,516 shares on the open market for $4.05M, Barron's Online's "Inside Scoop" column reported.

OTHER PAPERS:

The Australian Financial Review reported that ABC Learning Centres may look to the U.S. for its next large acquisition. Operators in the space include Bright Horizons Family Solutions Inc (NASDAQ: BFAM).

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Last updated: November 26, 2009: 08:25 AM

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Closing Bell: The bull returns ahead of earnings (GE, WFC, FOLD, CIEN, VG)

Analyst initiations 6-06-07: AW, RSG and WMI

Private equity shifts gears to technology

Ciena Corporation: Lightwaves are back in demand