BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Analyst upgrades, downgrades and initiations: AXYS, CX, EPG, CKP, CBS ... ]]>http://www.bloggingstocks.com/2008/12/23/analyst-upgrades-downgrades-and-initiations-axys-cx-epg-ckp/http://www.bloggingstocks.com/2008/12/23/analyst-upgrades-downgrades-and-initiations-axys-cx-epg-ckp/http://www.bloggingstocks.com/2008/12/23/analyst-upgrades-downgrades-and-initiations-axys-cx-epg-ckp/#commentsFiled under: , ,

Analyst upgrades:
  • Axys Tech (NASDAQ: AXYS) was upgraded to Outperform from Market Perform at Morgan Keegan on valuation.
  • Credit Suisse upgraded Cemex (NYSE: CX) to Neutral from Underperform following the company's refinancing announcement.
  • Patni Computer (NYSE: PTI) was upgraded to Buy from Neutral at UBS.
Analyst downgrades:
  • Merriman downgraded Environmental Power (NASDAQ: EPG) to Neutral from Buy citing a lack of visibility into the company's capital raise and lowered their estimates to reflect a slippage in project schedules.
  • Jefferies cut inVentiv Health (NASDAQ: VTIV) to Hold from Buy as they believe budget cuts at the company's client base make 2009 estimates too high. The firm lowered their target to $11 from $15.
  • Oppenheimer downgraded RSC Holdings (NYSE: RRR) to Perform from Outperform to reflect the continued deterioration in non-residential construction and valuation following the recent rally.
  • Smurfit-Stone (NASDAQ: SSCC) was lowered to Hold from Buy at Deutsche Bank.
  • Distribucion Y Servicio (NYSE: DYS) was downgraded to Sell from Hold at Deutsche Bank.
  • Key Energy (NYSE: KEG) was downgraded at SMH Capital to Neutral from Accumulate.
Analyst initiations:
  • AECOM Technology (NYSE: ACM) was initiated with an Outperform rating and $34 target at Baird. The firm is positive on AECOM's diverse portfolio of services and global reach.
  • Baird also initiated Checkpoint (NYSE: CKP) with a Neutral rating and $11 target, citing the weak macro environment.
  • Thomas Weisel said Integra LifeSciences (NASDAQ: IART) has little exposure to economically sensitive areas of healthcare and has a varied mix of products that provide a platform for sustainable organic growth. Shares were initiated with an Overweight rating.
  • Piper Jaffray assumed CBS Corp (NYSE: CBS) with a Neutral rating.
  • BioMarin (NASDAQ: BMRN) was started at Stanford with a Hold rating.
  • Websense (NASDAQ: WBSN) was initiated with an Equal Weight at First Analysis.

Analyst upgrades, downgrades and initiations: AXYS, CX, EPG, CKP, CBS ... originally appeared on BloggingStocks on Tue, 23 Dec 2008 11:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ACMAXYSBMRNCBSCKPCXDYSEPGIARTKEGPTIRRRSSCCVTIVWBSNTue, 23 Dec 2008 11:40:00 EST<![CDATA[Wal-Mart makes bid for Chile's largest grocer]]>http://www.bloggingstocks.com/2008/12/22/wal-mart-makes-bid-for-chiles-largest-grocer/http://www.bloggingstocks.com/2008/12/22/wal-mart-makes-bid-for-chiles-largest-grocer/http://www.bloggingstocks.com/2008/12/22/wal-mart-makes-bid-for-chiles-largest-grocer/#commentsFiled under: ,

With its financial performance and stock price a rare bright spot in a world where most retailers are hitting 52-week lows, Wal-Mart (NYSE: WMT) is getting aggressive on the acquisition front - something that hasn't historically been part of the company's growth plan until it started its overseas expansion.

On Friday, Wal-Mart made a cash tender offer to acquire Distribución y Servicio D&S SA (NYSE: DYS), the largest grocery store chain in Chile. If all of the company's shares are tendered, which is unlikely, the deal would be valued at $2.8 billion. The company's largest shareholder, the Ibanez family, which owns a controlling stake, has already agreed to tender 23% of its shares as part of a plan to allow the company to continue to operate with its current management. Wal-Mart reserves the right to withdraw its tender offer if it is unable to lock up at least a 50% stake in the company.

Wal-Mart's strategy for its grand entrances into new markets has been to acquire a leading retail chain to begin the effort with strong market share and gain the confidence of locals.

In a press release announcing the offer, Michael Duke, Wal-Mart's vice chairman explained the move: "Moving into Chile is an important step in implementing Wal-Mart International's strategy. We continue to focus on portfolio optimization, global leverage and winning in every market. A successful tender offer will give Wal-Mart the opportunity to be a significant participant in Chile, which continues to have a strong and growing economy among South America countries."

Wal-Mart makes bid for Chile's largest grocer originally appeared on BloggingStocks on Mon, 22 Dec 2008 09:59:00 EST. Please see our terms for use of feeds.

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