Analyst Upgrades

• Intel (INTC) was upgraded to overweight from equal weight and Autodesk (ADSK) to equal weight from underweight at Morgan Stanley.
• Citigroup upgraded Blackrock (BLK) to buy from hold.
• 99c Only Stores (NDN) was upgraded to buy from hold at Deutsche Bank.
• PetSmart (PETM) was upgraded to overweight from equal weight at Barclays.
• Piper Jaffray upgraded Ruth's Hospitality (RUTH) and Morton's Restaurant (MRT) to overweight from neutral.
• BioMed Realty (BMR) was upgraded to market perform from underperform at FBR Capital.
• Wells Fargo upgraded Piedmont (PDM) to market perform from underperform.

Continue reading Analyst Calls: AA, AOL, BLK, CSCO, GOOG, INTC, JBL, JBLU, YHOO ...

Analyst Calls: AA, AOL, BLK, CSCO, GOOG, INTC, JBL, JBLU, YHOO ... originally appeared on BloggingStocks on Thu, 11 Nov 2010 12:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Bears Get Some Footing (POT, AAPL, CTS, F, NFLX, FLEX)

Closing Bell: Bears Get Some Footing (POT, AAPL, CTS, F, NFLX, FLEX) originally appeared on BloggingStocks on Thu, 28 Jan 2010 16:00:00 EST. Please see our terms for use of feeds.

Jabil Circuit (NYSE: JBL), a provider of solutions to the electronics industry, as well as a business that counts Flextronics (NASDAQ: FLEX) as a colleague, has been in an uptrend. If you check out a year-to-date chart for the company's stock, you'll understand what I mean. And frankly, I admit that I've been too bearish on this situation. When I pontificated on Jabil's Q3 results, I didn't think the company was a strong idea. Well, it's gone up since then.

So, what should we make of the Q4 results, which were reported Tuesday after the bell? Again, we see big declines. Net sales dropped 15%, and earnings per diluted share on an adjusted basis plunged to 16 cents from the 30 cents seen in the year-ago period.

Continue reading Jabil Circuit beats by wide margin in Q4

Jabil Circuit beats by wide margin in Q4 originally appeared on BloggingStocks on Wed, 30 Sep 2009 09:00:00 EST. Please see our terms for use of feeds.

Electronics manufacturer Jabil Circuit (NYSE: JBL), a colleague of Flextronics (NASDAQ: FLEX), reported earnings for the second quarter on Tuesday after the market closed for the day.

The results didn't get me too excited, but the market did buy the stock in the after-hours session, sending the shares higher by well over 4%. I guess we'll have to agree to disagree.

On an adjusted basis, Jabil earned 13 cents per diluted share. That beat estimates by a penny. However, the bottom line dropped by 35%. Furthermore, the top line had shed over 5% during the quarter.

Continue reading Jabil Circuit beats the analysts, but risks remain

Jabil Circuit beats the analysts, but risks remain originally appeared on BloggingStocks on Wed, 25 Mar 2009 09:00:00 EST. Please see our terms for use of feeds.

"If you are looking for maximum rebound potential, you have to go lower down on the quality spectrum; it is typically the lower quality and lower priced stocks that will have the largest gains when the market rebounds," says turnaround expert George Putnam.

In his industry-leading service focused on distressed companies, The Turnround Letter, he looks at a package of 10 stocks recently trading below $5 per share while also offering "bundles of cash."

Here's his review:

Continue reading Ten cash-rich, low-priced turnaround stocks

Ten cash-rich, low-priced turnaround stocks originally appeared on BloggingStocks on Wed, 18 Feb 2009 14:00:00 EST. Please see our terms for use of feeds.

Wall Street's optimism in last week's preview about the earnings of tech stocks wasn't misplaced, as there were many more positive surprises than negative ones among the stocks we looked at. This week will bring plenty more data for investors in and watchers of the sector to mull over. Apple Inc. (NASDAQ: AAPL), AT&T Inc. (NYSE: T), and Microsoft Corp. (NASDAQ: MSFT), for example, are expected by analysts surveyed by Thomson Financial to post modest earnings gains from a year ago, to $1.11 per share (on $8.1 billion in sales), $0.72 per share (on $31.3 billion in sales), and $0.47 per share (on $14.8 billion in sales) respectively. All three of these companies ended the week closer to their 52-week lows than highs, and analysts on average consider them each a buy.

Here's a look at some of the week's biggest expected earnings gainers and decliners in the sector:

• Baidu.com Inc. (NASDAQ: BIDU): $1.25 per share (+44.0%) on revenues of $134.7 million (+103.2%)
• Broadcom Corp. (NASDAQ: BRCM): $0.44 per share (+38.6%) on revenues of $1.3 billion (+33.8%)
• QLogic Corp. (NASDAQ: QLGC): $0.31 per share (+29.0%) on revenues of $170.0 million (+21.2%)
• FLIR Systems Inc. (NASDAQ: FLIR): $0.32 per share (+28.1%) on revenues of $275.2 million (+44.0%)
• Juniper Networks Inc. (NASDAQ: JNPR): $0.30 per share (+26.7%) on revenues of $927.4 million (+26.2%)
• Waters Corp. (NYSE: WAT): $0.75 per share (+17.3%) on revenues of $391.6 million (+11.1%)
• Flextronics International Ltd. (NASDAQ: FLEX): $0.29 per share (+17.2%) on revenues of $8.7 billion (+57.3%)
• EMC Corp. (NYSE: EMC): $0.19 per share (+10.5%) on revenues of $3.7 billion (+12.9%)

Continue reading The week in preview: More hope for techs, doubt about financials

The week in preview: More hope for techs, doubt about financials originally appeared on BloggingStocks on Sun, 19 Oct 2008 12:30:00 EST. Please see our terms for use of feeds.

This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and check out other Battle of the Brands posts.

Rochester, New York-based Eastman Kodak Co. (NYSE: EK) was founded in 1892, and is well known for its wide range of photographic film products; it remains to this day the largest supplier of photographic films in the world. The company played a vital role in the invention and development of the motion picture industry, setting the standard of 35 mm film.

But times change. In 1999, Kodak entered into the consumer inkjet photo printers market in a joint venture with manufacturer Lexmark (NYSE: LXK). In 2004, Kodak announced it would stop producing traditional film cameras, beginning a multiyear struggle to refocus on digital photography and printing. Some of the results of that effort include the Kodak Smart Picture Frame, into which digital files are downloadable via a network connection. The Kodak Gallery is a website where users can upload photos into albums, print them out, and create mouse pads, calendars, and the like. And in 2006 Kodak announced that Flextronics (NASDAQ: FLEX) would manufacture and help design its digital cameras. Kodak also has long-term plans to sell ink jet printers and flat-panel displays.

Continue reading Battle of the Brands: Canon vs. Kodak

Battle of the Brands: Canon vs. Kodak originally appeared on BloggingStocks on Tue, 29 Apr 2008 19:00:00 EST. Please see our terms for use of feeds.

The earnings crunch rolls on, and here are a few of the highlights of this past week's earnings coverage from BloggingStocks:

• Activision Inc. (NASDAQ: ATVI) earnings soared on popularity of Guitar Hero and other game franchises.
• Arch Coal Inc. (NYSE: ACI) beat earnings expectations and offered revised guidance.
• Avon Products Inc. (NYSE: AVP) beat estimates despite lower profits due to restructuring costs.
• Chattem Inc. (NASDAQ: CHTT) beat estimates and raised its guidance.
• Cisco Systems Inc. (NASDAQ: CSCO) met estimates but a weak forecast raised concerns.
• Dionex Corp. (NASDAQ: DNEX) beat estimates on strength in petrochemical and food/beverage markets.
• Electronic Data Systems Corp. (NYSE: EDS) earnings fell, helping to raise concerns about tech stocks.
• Flextronics International Ltd. (NASDAQ: FLEX) beat estimates and affirmed its outlook.
• Gannett Inc. (NYSE: GCI) missed fourth-quarter earnings estimates on lower ad revenue.
• Las Vegas Sands Corp. (NYSE: LVS) missed expectations due to rising construction costs.
• MGM Mirage (NYSE: MGM) forecast it would beat earnings expectations by as much as 10 cents a share.
• Old Dominion Freight Line Inc. (NASDAQ: ODFL) beat revenue estimates and raised its guidance.
• RealNetworks Inc. (NASDAQ: RNWK) warned it would miss first-quarter and full-year expectations.
• Silicon Laboratories (NASDAQ: SLAB) beat expectations and raised its guidance.
• THQ Inc. (NASDAQ: THQI) posted disappointing results that included cancelled game franchises.
• Time Warner Inc. (NYSE: TWX) met estimates and announced restructuring plans (see transcript).
• Unilever (NYSE: UL) fourth-quarter net income tanked on a sell-off of its European frozen food business.
• Walt Disney Co. (NYSE: DIS) posted better-than-expected results on gains in TV and theme parks.

Continue reading Earnings highlights: Time Warner, Cisco, Gannett, Disney, EDS and others

Earnings highlights: Time Warner, Cisco, Gannett, Disney, EDS and others originally appeared on BloggingStocks on Sat, 09 Feb 2008 09:40:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Jefferies is positive on Celgene (NASDAQ: CELG) over the longer term given the company's robust earnings growth potential and strong cash flow prospects, and started shares with a Buy.

• Flextronics (NASDAQ: FLEX) was assumed with a Buy rating at Banc of America, who called the proposed acquisition of Solectron (SLR) a positive.

• Friedman Billings believes TradeStation's (NASDAQ: TRAD) unique platform differentiates it from the competition and gives it a sustained advantage, starting shares with an Outperform.

• Ferris Baker Watts initiated Assisted Living (NYSE: ALC) with a Buy rating, calling shares attractive...

• Banc of America assumed Benchmark Electronics (NYSE: BHE) and Flextronics with Buy ratings as well as Celestica (CLS, target $6), Plexus (NASDAQ: PLXS), Solectron, Sanmina-SCI Corp (NASDAQ: SANM) with Neutral ratings.

Analyst initiations 7-12-07: CELG, CLS, FLEX and SANM originally appeared on BloggingStocks on Thu, 12 Jul 2007 11:20:00 EST. Please see our terms for use of feeds.

Jabil's earnings spark stock originally appeared on BloggingStocks on Fri, 22 Jun 2007 12:40:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• JP Morgan upgraded shares of Advance Auto Parts to Neutral from Underweight citing increased confidence in the company's turnaround efforts.
• Solectron was upgraded to Neutral from Underperform at Credit Suisse to reflect the company's acquisition by Flextronics International (NASDAQ: FLEX).
• Carnival was upgraded to Strong Buy from Outperform and Royal Caribbean was upgraded to Outperform from Market Perform at Raymond James.

• BHP Billiton Ltd (NYSE: BHP) was upgraded to Buy from Hold at Citigroup on valuation and their expectations for higher commodity prices.
• Matrix USA upgraded shares of Callaway Golf Company (NYSE: ELY) to Hold from Strong Sell, as the firm believes growing demand for new products is driving positive fundamental trends.
• Lehman upgraded Dow Chemical (NYSE: DOW) to Overweight from Equal Weight, citing the potential for an accretive acquisition of buyback.

Analyst upgrades 6-05-07: AAP, SLR, CCL and RCL originally appeared on BloggingStocks on Tue, 05 Jun 2007 11:25:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal reported that the Bancroft family, which controls 64% of Dow Jones & Company Inc's (NYSE: DJ) voting power, said that it would meet with News Corporation (NYSE: NWS) to discuss its $5B bid for the company, but would also consider other bidders and options.
• The Wall Street Journal reported that The Coca-Cola Company (NYSE: KO) is attacking their sluggish performance by focusing on their bottler network in 200 countries, a move executives believe is important to the company's long-term health.
• Cadbury Schweppes ADS (NYSE: CSG) may soon announce a cost-cutting exercise worth nearly GBP300M that could feature closure of factories and job cuts, the Financial Times reported.
• Barron's Online's "Inside Scoop" column reported that Michael E. Marks, the chairman of Flextronics International Ltd (NASDAQ: FLEX), a director at SanDisk Corporation (NASDAQ: SNDK) and a new director of Sun Microsystems Inc (NASDAQ: SUNW), has made a $1M investment in Sun, the largest by an insider since August 2004.

• Retail giant Wal-Mart Stores Inc (NYSE: WMT), which has been on an "expansion craze" for decades, has decided to make a gradual slowdown in U.S. store expansion, and may embark on an initiative to return to more basic apparel offerings and an emphasis on low prices, the New York Post reported.

Newspaper wrap-up 6-1-07: Bancroft family to meet with News Corp originally appeared on BloggingStocks on Fri, 01 Jun 2007 09:15:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Credit Suisse initiated coverage of the EMS sector with an Underweight. The firm believes the industry is burdened with overcapacity in high-cost manufacturing regions, with hyper competition, allowing for no pricing power.
  
• The analyst initiated Flextronics International Ltd (NASDAQ: FLEX) with an Outperform rating.
  
• Benchmark Electronics, Inc (NYSE: BHE), Jabil Circuit, Inc (NYSE: JBL), Plexus Corp (NASDAQ: PLXS) and Sanmina-SCI Corp (NASDAQ: SANM) were started with Neutral ratings.
• Celestica Inc (NYSE: CLS) and Solectron Corp (NYSE: SLR) were initiated with Underperform ratings.
  

• Nollenberger initiated Chico's FAS, Inc (NYSE: CHS), Cache, Inc (NASDAQ: CACH) and AnnTaylor Stores Corp (NYSE: ANN) with Neutral ratings.
  
• Nollenberger also started coverage of Bebe Stores, Inc (NASDAQ: BEBE) and American Eagle Outfitters (NYSE: AEO) with Buy ratings.

Analyst initiations: AEO, ANN, BEBE, CHS and FLEX originally appeared on BloggingStocks on Tue, 15 May 2007 11:31:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Goldman reinstated Pfizer Inc (NYSE: PFE) with a Buy rating and $30 target; they are positive on Pfizer's valuation, low binary risk, high dividend yield and potential new initiatives.

• UBS started Flextronics Int'l (NASDAQ: FLEX) with a Buy rating and $14 target; the firm said Flextronics's RoIC expansion potential is under appreciated by the Street.

• JP Morgan initiated VCA Antech (NASDAQ: WOOF) with an Overweight rating; the firm said pet demographic trends are positive and that upside potential will come from its strong acquisition pipeline.

• Bank of America initiated aQuantive Inc (NASDAQ: AQNT) with a Neutral rating and $25 target on valuation.

• Nollenberger started four video game companies: Activision Inc (NASDAQ: ATVI), Electronic Arts (NASDAQ: ERTS) and THQ Inc. (NASDAQ: THQI) with Buy ratings and Take-Two Interactive Software (NASDAQ: TTWO) with a Neutral rating.

Analyst initiations 1-5-07: Pfizer started with a buy originally appeared on BloggingStocks on Fri, 05 Jan 2007 12:10:00 EST. Please see our terms for use of feeds.

Goldman Sachs has made several changes to its Conviction Buy List this morning. Most notably was a removal of Wal-Mart Stores Inc. (NYSE:WMT) from the list. Goldman replaced Wal-Mart's place with Target Corp. (NYSE:TGT).

TGT was given a $68 target and WMT target was cut to $53 from $57 per share. On Wal-Mart, Goldman analysts believe a turnaround is in its early stages and they see little positive momentum into the critical holiday season. Goldman Sachs maintained an official Buy rating for WMT, but simultaneously lowered Fiscal 2006 EPS from $2.87 to $2.83. Target (TGT) EPS estimates were raised by $0.01 to $3.18.

Baxter International Inc. (NYSE:BAX) & Aracruz Celulose (NYSE:ARA) were also trimmed off the Americas Conviction Buy List as was Flextronics International Ltd. (NASDAQ:FLEX). FLEX shares are down 9% since being added to the list in September and Goldman expects a more of a seasonal slowdown. On the other hand, Crown Holdings (NYSE:CCK) was added to Goldman Sachs Americas Conviction Buy List.

Jon Ogg is a partner in 24/7 Wall St., LLC; he does not own securities in the companies he covers.

Goldman Sachs Conviction Buy List: Adds Target, dumps Wal-Mart originally appeared on BloggingStocks on Fri, 01 Dec 2006 09:52:00 EST. Please see our terms for use of feeds.