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Cramer on BloggingStocks: Keep a close eye on tech

Posted Nov 9th 2007 9:05AM by Jim Cramer (RSS feed)
Filed under: Google (GOOG), Microsoft (MSFT), Apple Inc (AAPL), Cisco Systems (CSCO), Hewlett-Packard (HPQ), Coca-Cola (KO), PepsiCo (PEP), Intel (INTC), Caterpillar (CAT), Corning Inc (GLW), Eaton Corp (ETN), Cramer on BloggingStocks, Technology

TheStreet.com's Jim Cramer says a comment by the Cisco CEO about systems spending caused more damage than it should have.

Everyone thinks we lost tech. That's because everyone was hiding in tech. They thought it was "safe."

Perhaps we confused tech with Coke (NYSE: KO) (Cramer's Take) and Pepsi (NYSE: PEP) (Cramer's Take).

First, the root cause of all of this is the somewhat off-handed comment about how the financial services industry has cut back on spending for systems.

We never want to hear any company say anything about spending cuts by customers. It is intriguing that the only place where spending was hit was by these customers. It was enough to kill all tech, though.

Is it right? If tech hadn't been so hyped and if tech wasn't so linked to financial services, I don't know how much we would be down.

Continue reading Cramer on BloggingStocks: Keep a close eye on tech

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.