NFS posts
FeedPosted Dec 30th 2008 8:15AM by Melly Alazraki (RSS feed)
Filed under: Deals, Ford Motor (F), General Motors (GM), Dow Chemical (DOW)
General Motors Corp. (NYSE:
GM) shares traded 11% higher in premarket action (7:23 am) after
the government said Monday it will provide GMAC Financial Services LLC, GM's ailing financing arm, $5 billion from the $700 billion TARP fund. The Treasury also said it will lend up to $1 billion to GM so it can help GMAC raise more capital.
Dow Chemical Co. (NYSE:
DOW) over the weekend got news that Kuwait will no longer pursue a $17.4 billion joint venture with the company. Following the news, Moody's Investors Service and Standard & Poor's
downgraded their credit ratings on DOW. Still, after tanking over 17% Monday, DOW shares traded 3.3% higher in premarket (7:38 am).
Rohm & Haas Co. (NYSE:
ROH), which was purchased by DOW and has $13 billion of debt on its books, may also be downgraded following the DOW news. The venture money was going to help pay the debt once DOW took over ROH early next year.
DOW could be scrambling to keep the takeover of ROH alive. ROH shares gave back over 16% Monday, and traded 3% higher in early premarket action.
Continue reading Stocks in the news: GM, DOW, ROH, F, NFS, FRE
Posted Nov 24th 2008 10:57AM by Laurie Pasternack (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Motorola (MOT), New York Times'A' (NYT), Analyst Initiations, Rio Tinto plc ADS (RIO), Suntech Power Hldgs ADS (STP)
.gif)
Analyst upgrades:
- Jefferies upgraded Buffalo Wild Wings (NASDAQ: BWLD) to Buy from Hold on valuation with the stock down 65% in two months as they believe the company has a "best-in-class fundamental story." The firm lowered its target to $25 from $30.
- Morgan Stanley upgraded Sanofi-Aventis (NYSE: SNY) to Overweight from Equal Weight on valuation and believes near-term cost reductions could provide a positive catalyst.
- Citigroup upgraded New York Times (NYSE: NYT) to Hold from Sell and lowered its target to $5.50 from $7 on valuation and believes the dividend cut will boost the company's liquidity.
- Pantry (NASDAQL PTRY) was upgraded to Outperform from Market Perform at Friedman Billings.
- LECG Corp (NASDAQ: XPRT) was raised to Buy from Neutral at UBS.
- Thomson Reuters (NYSE: TRI) was upgraded at RBC Capital to Outperform from Sector Perform.
Analyst downgrades:
- Jefferies downgraded Suntech (NYSE: STP) to Hold from Buy and lowered its target to $6 from $25 as they believe concerns about a convert refinancing in February 2010 will continue to weigh on the stock.
- Credit Suisse cut Ericsson (NASDAQ: ERIC) to Underperform from Outperform due to expectations for a decline in wireless infrastructure spending.
- ING downgraded shares of Rio Tinto (NYSE: RTP) to Hold from Buy as they believe it will be challenging for the company to execute asset sales planned at reducing debt in the current environment.
Continue reading Analyst calls: BWLD, SNY, NYT, STP, ERIC, RTP, KTOS, ZGEN
Posted Oct 9th 2008 12:45PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Google (GOOG), Bank of America (BAC), Analyst Initiations
.gif)
Analyst upgrades:
- Baird upgraded Bank of America (NYSE: BAC) to Outperform from Neutral citing valuation and long-term earnings power.
- Keefe Bruyette upgraded shares of Nationwide Financial (NYSE: NFS) to Outperform from Market Perform as it believes the deal is not at risk and will close at the agreed upon $52.25 price.
- Friedman Billings upgraded American Eagle (NYSE: AEO) to Outperform from Market Perform citing valuation.
- Eli Lilly (NYSE: LLY) was upgraded to Hold from Sell at Natixis.
- W.W. Grainger (NYSE: GWW) was upgraded to Outperform from Neutral at RW Baird.
- Fidelity National (NYSE: FIS) was upgraded to Buy from Neutral at SunTrust.
Analyst downgrades:
- Credit Suisse downgraded Eli Lilly NYSE:(LLY) to Neutral from Outperform citing the increased risk profile from the ImClone (IMCL) deal.
- Soleil downgraded Google (NASDAQ:GOOG) to Hold from Buy as it believes Google's cost management may lag revenue weakness and that the falling stock price implies employee defections. The firm lowered its target to $350 from $580.
- Piper downgraded shares of Orbitz (NYSE:OWW) to Sell from Neutral to reflect deteriorating travel industry fundamentals and the company's levered balance sheet.
- US Steel (NYSE:X) was downgraded to Neutral from Buy at Goldman.
- Philips Electronics (NYSE:PHG) was downgraded to Hold from Buy at ING Group.
- Lamar Advertising (NASDAQ:LAMR) was downgraded to Hold from Buy at Soleil.
- Cemex (NYSE:CX) was downgraded to Hold from Buy at Citigroup.
Analyst initiations:
- Bidz.com (NASDAQ:BIDZ), American Superconductor (NASDAQ:AMSC) and Union Bankshares (NASDAQ:UBSH) were today's noteworthy initiations:
- Bidz.com (NASDAQ:BIDZ) was initiated with a Hold at Stamford, as the firm does not want to recommend a company that has never been tested during difficult economic times, but is positive on BIDZ's growth potential.
- American Superconductor (NASDAQ:AMSC) was initiated with a Hold at Stanford, as the firm believes the Euro decline and global market turmoil are near-term risks.
- Union Bankshares (NASDAQ:UBSH) was initiated with an Underperform at RBC Capital, as the firm views shares as overvalued.
- Regis Corp (NYSE:RGS) was initiated with a Neutral at RW Baird.
- CommVault's (NASDAQ:CVLT) coverage was resumed with a Neutral at Merrill Lynch.
Posted Mar 10th 2008 8:50AM by Jim Cramer (RSS feed)
Filed under: Market Matters, Citigroup Inc. (C), Bank of America (BAC), Federal Natl Mtge (FNM), , , Cramer on BloggingStocks, MBIA Inc (MBI)
TheStreet.com's Jim Cramer says you have to have a plan going in so you don't get forced out. Some days like Friday you throw out the book and you just say, OK, pick a couple of stocks to defend and let the rest run down without you or scale out of them on the bogus rally you know people will try to mount from an oversold position.
Days like Friday are all about trying not to lose a huge amount of money. They are days where you want to throw a brick at every manager who comes on TV and says, "We don't even look at this stuff because we are long term." You want to throw a brick because these are long-term-sized losses inflicted in a very short time.
Think about it. If I had a nickel for everyone who came on TV and said that the short-term action in
Fannie Mae (NYSE:
FNM) (
Cramer's Take) or
Citigroup (NYSE:
C) (
Cramer's Take) are "no concern of mine," I would be a trillionaire. Saying stuff like that is simply a way of saying, "I am lying to you or lying to myself, I don't know which," because the odds are not getting better that Fannie Mae will get back to $60 anytime in the long term.
Continue reading Cramer on BloggingStocks: How to handle days like Friday
Savings Experiment: Snow Removal
Bonds Are a 'Safe' Investment: A Big Lie Gets Even Bigger.gif){kind=logo}
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
