Analyst Upgrades

• Xilinx (XLNX) to buy from hold at Auriga.
• Orion Energy (OESX) to buy from neutral at Roth Capital.
• Goodyear Tire (GT) to buy from fair value at CRT Capital.
• RadioShack (RSH) to neutral from underperform at Wedbush.
• Novo Nordisk (NVO) to buy from neutral at Goldman.

Continue reading Analyst Calls: ADBE, CE, CISG, DOW, ELN, GT, NSC, NVO, RSH, XLNX ...

Analyst Calls: ADBE, CE, CISG, DOW, ELN, GT, NSC, NVO, RSH, XLNX ... originally appeared on BloggingStocks on Tue, 25 Jan 2011 12:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• NYSE Euronex (NYX) to conviction buy from neutral at Goldman.
• General Dynamics (GD) to buy from hold at Citigroup.
• Deere (DE), Parker-Hannifin (PH) and ExlService (EXLS) to overweight from neutral at JPMorgan.
• Aflac (AFL) to outperform from market perform at FBR Capital.
• Wynn Resorts (WYNN) to buy from neutral at Janney Capital.
• Amdocs (DOX) to buy from neutral at UBS.
• Juniper (JNPR) to buy from hold at ThinkEquity.
• Rudolph Tech (RTEC) and KLA-Tencor (KLAC) to perform from underperform at Oppenheimer.
• Hershey (HSY) and Pinnacle Entertainment (PNK) to outperform from market perform at Wells Fargo.
• Spirit AeroSystems (SPR) to equal weight from underweight at Morgan Stanley.
• Micron (MU) to outperform from neutral at RW Baird.

Continue reading Analyst Calls: AFL, DE, DOX, GD, GS, HSY, ITT, MS, NYX, TXN, UBS, WYNN ...

Analyst Calls: AFL, DE, DOX, GD, GS, HSY, ITT, MS, NYX, TXN, UBS, WYNN ... originally appeared on BloggingStocks on Thu, 13 Jan 2011 11:40:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Cisco (CSCO) to outperform from perform at Oppenheimer.
• Cognizant (CTSH) to buy from neutral at Goldman.
• Polypore (PPO) to outperform from neutral at RW Baird.
• Elan (ELN) to buy from neutral at UBS.
• Millicom (MICC) and NuStar GP Holdings (NSH) to overweight from equal weight at Morgan Stanley.
• Teekay LNG (TGP) to equal weight from underweight at Morgan Stanley.
• American Railcar (ARII) to outperform from market perform at Morgan Keegan.
• Texas Instruments (TXN) to buy from neutral at Sterne Agee.

Continue reading Analyst Calls: ARO, CSCO, CTSH, ELN, EZCH, LEAP, OGE, TXN, WIN ...

Analyst Calls: ARO, CSCO, CTSH, ELN, EZCH, LEAP, OGE, TXN, WIN ... originally appeared on BloggingStocks on Mon, 06 Dec 2010 10:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Goldman upgraded BP (BP) to buy from neutral.
• STEC (STEC) was upgraded to buy from hold at Needham.
• MCG Capital (MCGC) was upgraded to buy from hold at BB&T.
• Corporate Office (OFC) was upgraded to market perform from underperform at FBR Capital.
• Citigroup upgraded K-Sea Transportation (KSP) and Post Properties (PPS) to hold from sell.
• BofA/Merrill upgraded Embraer (ERJ) to buy from underperform.
• Wilmington Trust (WL) was upgraded to neutral from underperform at Macquarie.
• Parkway Properties (PKY) was upgraded to hold from sell at Stifel Nicolaus.

Continue reading Analyst Calls: BP, EOG, FDO, MOT, MRO, NEM, NOK, ODP, RIMM, TGB ...

Analyst Calls: BP, EOG, FDO, MOT, MRO, NEM, NOK, ODP, RIMM, TGB ... originally appeared on BloggingStocks on Wed, 03 Nov 2010 11:30:00 EST. Please see our terms for use of feeds.

Continue reading Elan (ELN) drops on Tysabri troubles

Elan (ELN) drops on Tysabri troubles originally appeared on BloggingStocks on Mon, 29 Jun 2009 13:30:00 EST. Please see our terms for use of feeds.

Elan (NYSE: ELN) said it is initiating a strategic review which could result in a minority investment, a strategic alliance, a merger, or a sale. ELN closed at $8.03 Monday. ELN February call option implied volatility is at 103, puts are at 112, above its 26-week average of 100 according to Track Data, suggesting larger price movement..

Biogen Idec (NASDAQ: BIIB) closed at $48.45 Monday. BIIB and ELN have a 50-50 stake in the multiple sclerosis drug Tysabri. ELN said it is initiating a strategic review which could result in a minority investment, a strategic alliance, a merger or a sale. BIIB February option implied volatility of 56 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Crucell NV (NASDAQ: CRXL), a biopharmaceutical company, and Wyeth (NYSE: WYE) confirmed on January 7 the two firms are in discussion to combine. CRXL closed at $22.63 Monday. CRXL February option implied volatility of 58 is near its 26-week average of 61, according to Track Data, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: Elan (ELN) volatility up into strategic review originally appeared on BloggingStocks on Tue, 13 Jan 2009 08:38:00 EST. Please see our terms for use of feeds.

It's been a tough year for many industries -- there's no denying it. Retailers of all stripes, oil companies, construction firms, financials, basic materials companies -- you name it, it's down.

So, are there any safe havens?

Historically, in times of economic uncertainty the pharmaceutical industry, along with consumer staples, is often the "go to" place where, at a minimum, you can count on a nice dividend yield to shield your portfolio from gigantic losses. Not anymore.

In this downturn even stalwarts such as Merck (NYSE: MRK) and Pfizer (NYSE: PFE) trade near their multi-year lows, despite offering generous yields.

What about biotechs? That sector has performed much better.

However, one of my favorite biotech names, Elan (NYSE: ELN), is struggling.

At the start of the year, ELN was looking strong. Its stock was up by 50% by mid-summer. Since then shares have collapsed and now trade in the mid-single digits.

I profiled the company on July 2, with one caveat: If late-stage testing of a new Alzheimer's drug called bapineuzumab doesn't go as planned, then ELN will trade lower.

About a month later, the company announced that the results of a Phase II clinical study showed the drug does safely treat the symptoms of Alzheimer's disease, but the results were not statistically significant, and the 234-person Phase II study would have to be broadened to a much larger Phase III study to be considered for FDA approval.

The shares fell 17% on the announcement, but that was just the start. As is often the case, when it rains, it pours.

Continue reading Biotech no longer a safe haven: Elan (ELN) falls on hard times

Biotech no longer a safe haven: Elan (ELN) falls on hard times originally appeared on BloggingStocks on Fri, 12 Dec 2008 15:01:00 EST. Please see our terms for use of feeds.

"If you want to buy a great company dirt cheap, think Biogen Idec (NASDAQ: BIIB)," says biotech expert Michael Shulman. Here's an update from ChangeWave Biotech Investor.

"Biogen recently got hammered on 'bad' news that wasn't actually so bad. BIIB and partner Elan (NYSE: ELN) reported that two MS patients, out of 31,800 currently receiving Tysabri, developed a rare brain malady called PML.

"It's important to note, here, that the two companies had predicted that one in 1000 cases could develop PML and the FDA let the drug come to market with this understanding with a strong set of patient warnings and physician follow up.

"Tysabri has succeeded in the marketplace because it is a superior treatment for MS -- and the patients who use it agree, despite its high cost of $30,000 per year. I expect only a very small drop off in market acceptance for Tysabri and when it becomes apparent the drug is still desired by patients and doctors, the stock should rebound significantly.

"BIIB is still targeting 100,000 patients by 2010 and that would translate into $1 billion per quarter in sales.The two cases of PML cut the stock by almost 30% -- and that's ridiculous. It's simply too big a move for a cash-rich, risk-free company with several major drugs -- especially Rituxan which is taking more market share every quarter.

"Biogen Idec also has the ability to add new products through licensing or direct acquisition, and I expect it to do so in the coming quarters. This temporary downturn is a godsend for investors! BIIB is now selling well below the valuations of other large-cap, double-digit biotech growers. Take advantage of this mistake before the Street wakes up."

Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.

Biogen (BIIB): A 'dirt cheap' biotech bet originally appeared on BloggingStocks on Mon, 25 Aug 2008 11:16:00 EST. Please see our terms for use of feeds.

Biogen (NASDAQ: BIIB) was trading at $54.71 in pre-open trading, below its close of $69.76 Thursda. BIIB and Elan (NYSE: ELN) announced their multiple sclerosis treatment Tysabri, was linked to brain infection. BIIB August option implied volatility was at 42, September at 39; near its 26-week average of 39 according to Track Data, suggesting non-directional price movement.

ELN was trading at $10.78 in pre-open trading, below its close of $20.05. ELN August option implied volatility was at 65, October at 58; below its 26-week average of 70, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: Biogen and Elan trading lower on Tysabri link to brain infection originally appeared on BloggingStocks on Fri, 01 Aug 2008 10:10:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: Trina Solar, Adtran and Elan Corp were today's noteworthy upgrades:

• Friedman Billings upgraded Trina Solar (NYSE: TSL) to Market Perform from Underperform citing expectations for improved FCF following the company's announcement to discontinue its in-house poly manufacturing.
  
• Thomas Weisel believes Adtran (NASDAQ: ADTN) is in a multi-year transition where new products are able to offset continued declines in the legacy products. Shares were raised to Overweight from Market WEight, and also upgraded at Raymond James to Strong Buy from Outperform.
  
• Goldman upgraded shares of Elan Corp. (NYSE: ELN) to Buy from Neutral to reflect their outlook for Tysabri and Bapineuzumab.

OTHER UPGRADES:

• Suntrust upgraded BOK Financial (NASDAQ: BOKF) to Buy from Neutral.
  
• Plains All American (NYSE: PAA) was upgraded at Morgan Stanley to Overweight from Equal Weight.
  
• Morgan Keegan upgraded Diodes (NASDAQ: DIOD) to Outperform from Market Perform.

Analyst upgrades: Trina Solar, Adtran, Elan Corp. originally appeared on BloggingStocks on Wed, 16 Apr 2008 11:38:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: Jabil Circuit, Aircastle, Genesis Lease and P.F. Chang's were today's noteworthy downgrades:

• JP Morgan downgraded shares of Jabil Circuit (NYSE: JBL) to Underweight from Overweight following the lower-than-expected guidance, as they believe the company is seeing end market weakness in most of its markets. Shares were also downgraded at Thomas Weisel to Market Weight from Overweight and at Credit Suisse to Neutral from Outperform following the disappointing guidance.
  
• JP Morgan also downgraded shares of Aircastle (NYSE: AYR) and Genesis Lease (GLS) to Neutral from Overweight to reflect the continued credit and equity market challenges faced by both companies.
  
• Friedman Billings downgraded shares of P.F. Chang's (NASDAQ: PFCB) to Underperform from Market Perform as they believe 2008 will be a challenging year for all casual dining restaurant companies and that the valuation is expensive at current levels.

OTHER DOWNGRADES:

• Goldman added Foundation Coal (NYSE: FCL) to its Conviction Sell List.
  
• Collins Stewart cut SiRF Technology (NASDAQ: SIRF) to Hold from Buy.
  
• Elan Corp (NYSE: ELN) was downgraded to Sell from Hold at Canaccord Adams.

Analyst downgrades: Jabil Circuit, Aircastle, Genesis Lease, P.F. Chang's originally appeared on BloggingStocks on Wed, 26 Mar 2008 11:54:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Jefferies believes Microsoft's (NASDAQ: MSFT) bid for Yahoo (NASDAQ: YHOO) and more conciliatory tone towards regulators signals a shift in strategy from defense to offense. The firm started shares with a Buy rating and $33 target.
  
• Wachovia believes IPC The Hospitalist (NASDAQ: IPCM) is well-positioned to gain share in the fragmented hospitalist market given its experienced management team, operating history, and proven track-record; shares were initiated with an Outperform rating at Wachovia and with an Outperform rating and $27 target at Credit Suisse.
  
• DuPont (NYSE: DD) was initiated with an Outperform rating and $57 target at Credit Suisse, as they believe the company's number two seed position in North America looks secure.

• B. Riley initiated VASCO Data Security (NASDAQ: VDSI) with a Buy rating and $18 target.
  
• Morgan Stanley initiated Liberty Entertainment (NASDAQ: LMDIA) with an Overweight rating; shares were also initiated with an Outperform rating at Wachovia.
  
• Credit Suisse added shares of Elan Corp (NYSE: ELN) to its Focus List and started shares with an Outperform rating.

Analyst initiations: Microsoft, DuPont, IPC The Hospitalist Co. originally appeared on BloggingStocks on Wed, 05 Mar 2008 12:00:00 EST. Please see our terms for use of feeds.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My favorite speculative stock for 2008 is Elan (NYSE: ELN)," says Ken Kam, editor of Marketscope, who also featured the same stock as his favorite in last year's report.

"The stock started this year at $14 and now trades at over $24 -- up over 70% for the year, and more than triple from our original recommendation. It is hard to believe it, but I think Elan still has more room to run.

"I originally recommended it in June 2005 at $7 after the company withdrew Tysabri, a multiple sclerosis drug, from the US market. After being reapproved by the FDA nearly 17 months ago, Tysabri is used by less than 20,000 out of more than 1 million potential patients in North America and Europe.

"For all the gains we've seen so far (up 70%), these Tysabri sales have ramped up more slowly than I expected. However, next year there is a good chance that Tysabri sales will hit an inflection point where sales can more than double in a short time.

Continue reading Best Stocks for 2008: Elan (ELN) has 'more room to run'

Best Stocks for 2008: Elan (ELN) has 'more room to run' originally appeared on BloggingStocks on Sun, 23 Dec 2007 12:15:00 EST. Please see our terms for use of feeds.

"The long-term outlook for biotech is excellent and many of today's undervalued companies will ended up looking like screaming bargains at today's prices," notes biotech expert John McCamant.

In his Medical Technology Stock Letter, the advisor has long been a fan of Biogen Idec (NASDAQ: BIIB). Now, he is joined by Carl Ichan, who has purchased shares in the biotech firm.

Says McCamant, "There may be no such thing as a pure safe haven within the equity markets. However, we believe the market for new drugs will continue to grow rapidly even if we enter into a difficult period for the economy."

He argues, "Quite simply, if an individual has to decide whether to buy a new TV or a new cancer drug, it is a safe assumption that they will chose the best drug possible. Additionally, with the continued aging of America, the demand for healthcare is poised for unprecedented growth."

As to Biogen, he explains, "We have long recommended the stock primarily for the significant growth opportunity Rituxan brings to the plate in treating autoimmune disease, most importantly rheumatoid arthritis (RA)."

Continue reading Bet along with Ichan on Biogen (BIIB)

Bet along with Ichan on Biogen (BIIB) originally appeared on BloggingStocks on Fri, 24 Aug 2007 09:40:00 EST. Please see our terms for use of feeds.

Last December, over 100 stocks were featured in our Top Picks for 2007 report. Now, at mid-year, we turn to the 20 advisors whose picks showed the strongest gains to get an update on their previous picks, as well as a new favorite stock for the second half of the year.

Ken Kam, editor of Marketscope, chose two stocks in the Top Picks for 2007 report and both picks qualified him for our Top 20 Advisors. His selection of Valero Energy Corp. (NYSE: VLO) rose 48%. Here is his original recommendation for Valero and his current opinion on the stock.

In addition, Ken also picked Elan Corp. (NYSE: ELN) in our Top Picks 2007 report and its gain of 35% also qualifies among our Top 20 Advisors. Now, he is now re-recommending the shares as his current favorite for the balance of 2007.

The advisor explains, "Elan has been strong on rumors that Biogen (NASDAQ: BIIB) -- Elan's 50% partner for its multiple sclerosis drug Tysabri -- is interested in acquiring the company. Elan has also show recent strength on news that the company's Alzheimer's drug (AAB-001), which is partnered with Wyeth (NYSE: WYE), is being advanced to Phase 3 trials.

"When a stock makes a big move in a short period, there is a tremendous temptation to sell and 'lock in profits.' However, when the price move is accompanied with good news, the initial bump may be the start of a major move up. If you are too quick on the trigger, you may miss the bigger, longer term.

Continue reading Top 20 advisors: Ken Kam boosts Elan

Top 20 advisors: Ken Kam boosts Elan originally appeared on BloggingStocks on Thu, 21 Jun 2007 13:50:00 EST. Please see our terms for use of feeds.

• In the trucking industry, FTN Midwest initiated shares of Cummins Inc (NYSE: CMI) and Navistar International Corp (NASDAQ: NAVZ) with Hold Ratings and Oshkosh Truck Corp (NYSE: OSK) and PACCAR Inc (NASDAQ: PCAR) with Buy ratings.
• ROO Group (NASDAQ: RGRP) was initiated with a Buy rating and a $3.75 target at Think Equity, which believes RGRP is positioned to capitalize as the Internet continues to grow as a broadcast medium for video.
• Soleil initiated shares of Accuray Inc. (NASDAQ: ARAY) with a Buy rating and $30 target. The company is Soleil's top pick in radiation oncology.
• Soleil also initiated shares of TomoTherapy Inc. (NASDAQ: TTPY) with a Buy rating and $25 target, as the firm believes all-in-one imaging and radiation oncology system in HiArt could become the new standard of care.

• Elan Corp (NYSE: ELN) was initiated with an Outperform rating and $40 target at Leerink Swann, which added shares to the firm's Focus List as it is positive on the Tysabri opportunity.
• Cree Inc (NASDAQ: CREE) was initiated with a Buy rating and $50 target at Amtech, as the firm believes the time for LED adoption has finally arrived and will accelerate in the future.
• Nollenberger initiated shares of ZipRealty (NASDAQ: ZIPR) and Move, Inc (NASDAQ: MOVE) with Neutral ratings.
• CIBC World Markets initiated shares of Whole Foods Market Inc. (NASDAQ: WFMI) with a Sector Underperformer rating and $38 target, expecting the company to be impacted by increasing competition.
• BMO Capital Markets initiated shares of Intel Corp. (NASDAQ: INTC) with an Outperform rating and $10 target.

Analyst initiations 6-1-07: WFMI, INTC, Oshkosh ... originally appeared on BloggingStocks on Fri, 01 Jun 2007 11:38:00 EST. Please see our terms for use of feeds.

International Game Technology

• IGT specializes in the design, manufacturer and marketing of computerized gaming equipment. IGT is recently up $1.28 to $39.18 on unconfirmed takeover chatter.
• IGT call option volume of 12,038 contracts compares to put volume of 576 contracts. IGT June option implied volatility of 34 is above its 26-week average of according to Track Data, suggesting larger risk.

• CRM, an on demand customer relationship management applications company, is recently up $0.76 to $43.83 on take over speculation.
• CRM reported first quarter revenue of $162 million yesterday. GROW has a Buy rating on CRM.
• CRM June option implied volatility of 40 is below its 26-week average of 44 according to Track Data, suggesting decreasing risk.

Option update 5-18-07: IGT, CRM up on takeover chatter originally appeared on BloggingStocks on Fri, 18 May 2007 13:50:00 EST. Please see our terms for use of feeds.

Ken Kam is a longtime mutual fund manager who came up with an innovative way to manage money about five years ago. He created the site Marketocracy.com, an online community where investors are invited to join and create portfolios, which are tracked publicly. He then takes the picks of the top 100 performers and sticks them in the mutual fund he manages (this is simplifying a bit, but you get the idea).

The Marketocracy Masters 100 Fund (MOFQX) has outperformed the S&P 500 the past two years, but did pretty poorly in 2004. Morningstar gives it just one star, but Kam is looking forward to its five-year anniversary when he says its returns will be more than double the S&P 500 over that time.

What I find fascinating about Kam's business model is that the community at Marketocracy has become Kam's own research pool. When he has an idea, he tests it against members. When he's looking for new ideas, he checks to see what the top-performing managers on the site are buying. (Premium members get to do the same thing).

This year Kam started his Best Ideas Blog. There he posts about companies he considers, well, his best ideas. His site charges subscription fees for full access to newsletters, forums and the blog. But he shared some of his ideas during a recent visit to AOL's offices.

Continue reading Blogging Stocks Interview: Ken Kam's best stock ideas

Blogging Stocks Interview: Ken Kam's best stock ideas originally appeared on BloggingStocks on Sat, 16 Sep 2006 10:40:00 EST. Please see our terms for use of feeds.