Analyst Upgrades

• Tyco Electronics (TEL) and Weight Watchers (WTW) to buy from neutral, and Smithfield Foods (SFD) to buy from underperform, at BofA/Merrill.
• Red Hat (RHT) to overweight from equal weight at Morgan Stanley.
• Gold Fields (GFI) to overweight from neutral at HSBC.
• Novartis (NVS) to outperform from neutral and GlaxoSmithKline (GSK) to neutral from underperform at Credit Suisse.
• Dollar General (DG) to buy from hold at ThinkEquity.
• Eagle Rock Energy (EROC) to outperform from sector perform at RBC Capital.

Continue reading Analyst Calls: AZN, DG, GSK, NBS, NRGY, NVS, RHT, SFD, STX, TYC ...

Analyst Calls: AZN, DG, GSK, NBS, NRGY, NVS, RHT, SFD, STX, TYC ... originally appeared on BloggingStocks on Tue, 07 Dec 2010 11:50:00 EST. Please see our terms for use of feeds.

Fiserv Inc. (NYSE: FISV) -- an operator of bank ATM machines -- bought CheckFree Corp. (NASDAQ: CKFR) today, according to Bloomberg News. Why did this happen and who could be next?

Fiserv's $4.4 billion acquisition represents a big bet on the growth in the Internet banking industry. And Internet banking is a growing business for the simple reason that it's cheaper and quicker to do banking over the Web than to build and operate a network of branches. Earlier in the year, Fiserv was outbid by Fidelity National Information Services Inc. (NYSE: FIS) when Fiserv tried to buy rival EFunds Corp. for $1.5 billion.

The combination will allow the company to eliminate about $100 million a year in expenses. The sale, which the companies expect to close by the end of the year, will add more than $125 million to revenue. Fiserv expects the purchase to add to earnings per share in 2008

Continue reading Fiserv buys CheckFree: Who's next?

Fiserv buys CheckFree: Who's next? originally appeared on BloggingStocks on Thu, 02 Aug 2007 16:35:00 EST. Please see our terms for use of feeds.