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Options Update: Manpower Volatility Flat

Manpower (MAN) closed up $1.96 to $46.87. MAN overall option implied volatility of 37 is near its 26-week average of 38 according to Track Data, suggesting non-directional price movement.

SanDisk (SNDK) closed up $1.18 to $36. SNDK September put option implied volatility is at 54, October is at 55, January is at 55; above its 26 week average of 51. SNDK call option volume of 38K contracts compares to put volume of 14K contracts according to Track Data, suggesting traders taking positions for price movement.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Manpower Drops After Insiders Sell Stock

Manpower (MAN - option chain) stock is trading lower today after the company disclosed via SEC filings that MAN executives had sold a total of 134,750 shares of MAN stock in the past week. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on MAN.

This morning, MAN opened at $57.68. So far today the stock has hit a high of $58.16 and a low of $56.78. As of 11:55, MAN is trading at $57.00, down $1.86 (-3.2%). The chart for MAN looks neutral and S&P gives MAN a neutral 3 STARS (out of 5) hold ranking.

Continue reading Manpower Drops After Insiders Sell Stock

Analyst Calls: AZN, FLR, ICE, KFT, LAMR, PALM, RST, SJM ...

Analyst Upgrades

  • JPMorgan upgraded Lamar Advertising (LAMR) to overweight from neutral following the company's Q4 results. The firm has a $36 price target on shares.
  • Canaccord upgraded St. Mary Land & Exploration (SM) to buy from speculative buy based on the company's business model transformation. The firm has a $45 target on shares.
  • Jefferies upgraded Rosetta Stone (RST) to buy from hold following the Q4 report and guidance. The firm has a $29 target on shares.
  • GlaxoSmithKline (GSK) and AstraZeneca (AZN) were upgraded to neutral from sell at Goldman.
  • China Unicom (CHU) was upgraded to buy from sell at Deutsche Bank.
  • Repsol (REP) was upgraded to overweight from equal weight at Barclays.

Continue reading Analyst Calls: AZN, FLR, ICE, KFT, LAMR, PALM, RST, SJM ...

Analyst Upgrades, Downgrades and Initiations: ARM, KFT, LOW, OXY, UBS, UPS, VRSN ...

Analyst Upgrades

  • Deutsche Bank upgraded United Parcel Service (UPS) to buy from hold on expectations the company will benefit from improving international package volumes and restructuring initiatives. The firm raised its target on shares to $70 from $67.
  • JPMorgan upgraded SVB Financial (SIVB) to overweight from neutral on valuation following the recent pullback in shares. The firm has a $54 price target on the stock.
  • Baird upgraded ArvinMeritor (ARM) to outperform from neutral and raised its target to $15 from $12 following the Q2 report. The firm said ArvinMeritor has transformed its business model and is well-positioned for growth.
  • UBS (UBS) was upgraded to overweight from neutral at JPMorgan.
  • Occidental Petroleum (OXY) was upgraded to conviction buy from buy at Goldman.
  • Vail Resorts (MTN) was upgraded to outperform from market perform at Wells Fargo.

Continue reading Analyst Upgrades, Downgrades and Initiations: ARM, KFT, LOW, OXY, UBS, UPS, VRSN ...

Analyst Upgrades, Downgrades and Initiations: BKC, CAH, DGX, FII, MAN, URBN, WMT ...

Analyst Upgrades

  • Goldman upgraded Walmart (WMT) to buy from neutral, citing compelling valuation, margin expansion and expense control. The firm has a $60 target on the stock.
  • FBR Capital upgraded Urban Outfitters (URBN) to outperform from market perform on valuation and its belief that sustainable positive comp trends will return in 2010. The firm maintains a $35 price target on shares.
  • JPMorgan upgraded Manpower (MAN) to overweight from neutral. The firm cites valuation and improving temp fundamentals in the U.S. and France for the upgrade and has a $70 price target on the stock.
  • Arena Resources (ARD) was upgraded to buy from neutral at SunTrust.
  • C.R. Bard (BCR) was upgraded to neutral from underweight at Piper Jaffray.
  • Cardinal Health (CAH) was upgraded to overweight from market weight at Thomas Weisel.

Continue reading Analyst Upgrades, Downgrades and Initiations: BKC, CAH, DGX, FII, MAN, URBN, WMT ...

Analyst Upgrades, Downgrades and Initiations: AOL, DOW, KSS, LMT, MAN, MMM, SONC ...

Analyst Upgrades

  • Goldman upgraded 3M Company (MMM) to conviction buy from buy, citing positive global industrial data, underappreciated organic growth and earnings momentum, among other reasons. The firm raised its target to $105 from $100.
  • Citigroup upgraded Manpower (MAN) to buy from hold to reflect improvements in the temporary employment sector. The firm raised its target price on shares to $69 from $61.
  • Baird upgraded Cerner (CERN) to outperform from neutral and raised its target to $104 from $89 based on Q4 bookings momentum, positive newsflow and reasonable valuation.
  • Dow Chemical (DOW) was upgraded to overweight from equal weight at Barclays.
  • Magna International (MGA) was upgraded to outperform from market perform at Wells Fargo.

Continue reading Analyst Upgrades, Downgrades and Initiations: AOL, DOW, KSS, LMT, MAN, MMM, SONC ...

Analyst Upgrades, Downgrades and Initiations: AMTD, AOL, CHTT, CSC, IMAX, SAIA, WRC ...

Analyst Upgrades

  • Keefe Bruyette upgraded TD AmeriTrade (AMTD) to outperform from market perform on valuation following the recent sell-off in shares. The firm has a $22.50 price target on the stock.
  • Stifel upgraded Saia (SAIA) to buy from hold based on valuation, operating leverage and increased possibility of a large industry consolidation event in the next few months. The firm has an $18 target on the stock.
  • Citigroup upgraded Atlas Pipeline Holdings (AHD) to hold from sell to reflect valuation and an improved outlook for commodity prices. The firm raised its target on shares to $6 from 50 cents.
  • Manpower (MAN) was upgraded to buy from neutral at BofA/Merrill.
  • IAMGOLD (IAG) was upgraded to buy from neutral at UBS.

Continue reading Analyst Upgrades, Downgrades and Initiations: AMTD, AOL, CHTT, CSC, IMAX, SAIA, WRC ...

Analyst upgrades, downgrades and initiations: AA, BIG, ED, FDX, MGM, MSFT, SKS ...

Analyst upgrades:

  • Jefferies upgraded Consolidated Edison (NYSE: ED) to Buy from Hold on expectations the company will be able to reach a settlement with the New York PSC Staff that will provide benefits to both ratepayers and shareholders. The firm raised its target on shares to $46 from $40.50.
  • Keefe Bruyette upgraded Public Storage (NYSE: PSA) to Market Perform from Underperform to reflect the company's balance sheet, industry leading position, and potential for accretive acquisitions. The firm raised its target on shares to $75 from $57.
  • JPMorgan upgraded Big Lots (NYSE: BIG) to Overweight from Neutral to reflect valuation and industry data points that suggest a pick-up in discretionary spending. The firm has a $30 target on the stock.
  • Alcoa (NYSE: AA) was upgraded to Buy from Hold at Deutsche Bank.
  • East West Bancorp (NASDAQ: EWBC) was upgraded to Outperform from Market Perform at Keefe Bruyette.
  • Bronco Drilling (NYSE: BDC) was upgraded to Neutral from Sell at UBS.

Continue reading Analyst upgrades, downgrades and initiations: AA, BIG, ED, FDX, MGM, MSFT, SKS ...

Analyst upgrades, downgrades and initiations: AMGN, AVY, C, FMCN, THC ...

Analyst upgrades:

  • Baird upgraded Tenet Healthcare (NYSE: THC) to Outperform from Neutral and raised its target to $6 from $5 based on cost trends, valuation, and expectations the company can beat expectations over the next six months.
  • Oppenheimer upgraded E-House (NYSE: EJ) to Outperform from Perform following the company's better-than-expected Q2 results. The firm has a price target of $27 on shares.
  • JPMorgan upgraded Avery Dennison (NYSE: AVY) to Overweight from Neutral and has a $33 target on the stock. The firm cites valuation for the upgrade following the recent underperformance and expects the company's margins to expand as demand rebounds.
  • Citigroup (NYSE: C) was upgraded to Buy from Underperform at BofA/Merrill.
  • Taubman Centers (NYSE: TCO) was upgraded to Conviction Buy from Buy at Goldman.
  • First Niagara (NASDAQ: FNFG) was upgraded to Buy from Neutral at Janney Montgomery.

Continue reading Analyst upgrades, downgrades and initiations: AMGN, AVY, C, FMCN, THC ...

Analyst upgrades, downgrades and initiations: WDC, NSTX, UBS, TIF, BA ...

Analyst upgrades:
  • Baird upgraded Western Digital (NYSE: WDC) and Seagate (NASDAQ: NSTX) to Outperform from Neutral citing better than expected industry conditions. The firm believes supply has tightened, resulting in price increases in certain market segments.
  • RBC Capital upgraded XTO Energy (NYSE: XTO) to Outperform from Sector Perform citing free cash flow and stable growth.
  • Goldman upgraded Manpower (NYSE: MAN) to Neutral from Sell and raised its target to $29 from $20 based on balanced risk/reward.
  • Energy Conversion (NASDAQ: ENER) was upgraded to Buy from Neutral at Piper Jaffray.
  • Infineon (NYSE: IFX) was raised to Hold from Sell at RBS.
  • NetSuite (NYSE: N) was upgraded to Acummulate from Source of Funds at ThinkEquity.

Continue reading Analyst upgrades, downgrades and initiations: WDC, NSTX, UBS, TIF, BA ...

Earnings highlights: Walgreen, Toyota, Best Buy, International Paper and others

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Also, bank earnings will be hit next by cancelled M&A deals.

Earnings releases scheduled for early January include Navistar (NYSE: NAV), Bed Bath & Beyond (NASDAQ: BBBY), Constellation Brands (NYSE: STZ), Family Dollar (NYSE: FDO), and Monsanto (NYSE: MON).

Visit AOL Money & Finance for more earnings coverage.

Sell-off provides great entry point in Manpower Inc. (MAN)

Lately it seems companies have been withdrawing guidance left and right. Maybe it is just a cop-out during difficult times, but on the surface the large number of businesses that are withdrawing guidance is troubling for investors.

Valuations are determined based on discounting future earnings. Without some sort of idea as to what earnings, or lack thereof, will be, investors are a bit in the dark. Such lack of guidance is particularly troubling for companies with poor balance sheets.

For those with a stronger foundation, the lack of guidance, while still troubling, takes on less importance. As long as it is reasonable to assume that a company will navigate the darkness and ultimately see sunny days once again, investing in companies that pull guidance can be quite rewarding.

Continue reading Sell-off provides great entry point in Manpower Inc. (MAN)

Manpower (MAN) dives on withdrawn forecasts

MAN logoManpower (NYSE: MAN - option chain) stock is falling today after the company withdrew its fourth-quarter profit and revenue forecasts, saying its quarter-to-date drop-off is much larger than expected. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on MAN.

This morning, MAN opened at $33.95. So far today the stock has hit a low of $31.13 and a high of $34.50. As of 12:25, MAN is trading at $30.92, down $5.48 (-15.0%). The chart for MAN looks bearish and S&P gives MAN a negative 2 STARS (out of 5) sell ranking.

For a bearish hedged play on this stock, I would consider a March bear-call credit spread above the $45 range. A bear-call credit spread is an options position that combines the purchase and sale of call options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 4.2% return in four months as long as MAN is below $45 at March expiration. Manpower would have to rise by more than 45% before we would start to lose money. Learn more about this type of trade here.

MAN hasn't been above $45 since late September and shown resistance around $38 recently.

Brent Archer is an options analyst and writer at Investors Observer.

DISCLOSURE: Mr. Archer owns and/or controls diversified portfolios of long and short stock and option positions that may include holdings in companies he writes about. At publication time, Brent neither owns nor controls positions in MAN.

Analyst calls: AAPL, BAC, MRK, NOK, YUM . . .

Analyst upgrades:

  • Oppenheimer upgraded Inter Parfums (NASDAQ: IPAR) to Outperform from Perform on valuation and increased comfort with the company's outlook after meeting with management.
  • Deutsche Bank raised Covidien (NYSE: COV) to Buy from Hold on the company's solid execution and ongoing restructuring, which they believe will drive EPS higher. The firm raised its target to $63 from $51.
  • Regions Financial (NYSE: RF) was upgraded to Outperform from Market Perform at Keefe Bruyette.
  • American Eagle (NYSE: AEO) was lifted to Buy from Neutral at Banc of America.
  • Goldman raised Healthways (NASDAQ: HWAY) to Neutral from Sell.

Analyst downgrades:

Continue reading Analyst calls: AAPL, BAC, MRK, NOK, YUM . . .

Earnings highlights: Bank of America, Merck, Mattel, Phillip Morris, AFLAC and others

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Bank of America, Merck, Mattel, Phillip Morris, AFLAC and others

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Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 10, 2012: 09:57 PM

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