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 OfficeMax Not Dead Yet

OfficeMax Not Dead Yet originally appeared on BloggingStocks on Thu, 28 Oct 2010 13:30:00 EST. Please see our terms for use of feeds.

Office Depot, Inc. (ODP), whose colleagues include OfficeMax Incorporated (OMX) and Staples, Inc. (SPLS), was off by 1.4% at the time of this writing in afternoon trading. That put the share price below the $7 level. The stock is also well below the 52-week high of $9.19. What do the technical and fundamental factors tell us about the potential of this investment idea?

They're not telling us comforting things, in my opinion. The one-year chart doesn't look too bad. Like many other one-year charts, it shows a company that wants to head higher, albeit in a choppy way.

Continue reading Should Investors Avoid Office Depot for Now?

Should Investors Avoid Office Depot for Now? originally appeared on BloggingStocks on Wed, 28 Apr 2010 16:40:00 EST. Please see our terms for use of feeds.

According to the press release, total sales decreased 6%. Earnings per diluted share declined as well, dropping 7% on an adjusted basis to 39 cents. That was good enough, though, to beat expectations by a penny, as indicated by our preview piece.

Continue reading Staples heads higher on third-quarter release

Staples heads higher on third-quarter release originally appeared on BloggingStocks on Tue, 01 Dec 2009 14:40:00 EST. Please see our terms for use of feeds.

Staples Inc. (SPLS), whose website had trouble keeping up with the crush of Black Friday traffic, is scheduled to discuss its third quarter 2009 financial results in a conference call Tuesday, December 1, at 8:00 AM ET. You can catch the live webcast of the call on the company's website.

During the three months that ended in October, Staples executives sold shares and the company was named one of the world's 100 hardest working brands. Analysts surveyed by Thomson Reuters expect the world's biggest office supply superstore operator to report that earnings for that period fell 9.5% from a year ago to $0.38 per share. Revenue for the quarter is expected to be 7.3% lower to $6.5 billion.

Continue reading Staples earnings preview: Shrinking profit seen as stock hits 52-week high

Staples earnings preview: Shrinking profit seen as stock hits 52-week high originally appeared on BloggingStocks on Mon, 30 Nov 2009 16:20:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Kaufman Bros. upgraded Computer Sciences (NYSE: CSC) and Cognizant (NASDAQ: CTSH) to Buy from Hold on better demand trends as it believes overall enterprise IT spending is turning more positive. The firm raised its target on Computer Sciences to $62 from $54 and on Cognizant to $45 from $42.
• Citigroup upgraded E-Trade (NASDAQ: ETFC) to Buy from Hold as it believes loan less trends have improved and the company could potentially be acquired. Citi raised its target on shares to $2.30 from $1.50.
• Auriga upgraded Microsoft (NASDAQ: MSFT) to Buy from Hold as it believes consensus expectations for 2010 are too low, but admits the company's Q1 results could be fairly weak. Auriga believes Microsoft is coming up to its "most powerful product cycle in many years" and raised its price target on shares to $30 from $24.
• Motorola (NYSE: MOT) was upgraded to Buy from Neutral at UBS.
• Fidelity Southern (NASDAQ: LION) was upgraded to Neutral from Reduce at SunTrust.
• Sonoco Products (NYSE: SON) was upgraded to Buy from Neutral at BofA/Merrill.

Continue reading Analyst upgrades, downgrades and initiations: AA, ETFC, FIATY, MOT, MSFT, POT ...

Analyst upgrades, downgrades and initiations: AA, ETFC, FIATY, MOT, MSFT, POT ... originally appeared on BloggingStocks on Mon, 14 Sep 2009 11:20:00 EST. Please see our terms for use of feeds.

Albert Gonzalez faced the music in a U.S. District Court in Boston on Friday, pleading guilty to masterminding one of the biggest cases of identity theft in history. The deal he struck with prosecutors could have him turning big rocks into little ones for up to a quarter of a century.

The Miami resident compromised the computer systems of large, high-profile retailers, including TJX (NYSE: TJX), BJ's Wholesale Club (NYSE: BJ), OfficeMax (NYSE: OMX), Barnes & Noble (NYSE: BKS) and Sports Authority. Tens of millions of credit card numbers were swiped in this scheme, leading to 19 counts of conspiracy, computer fraud, wire fraud, access device fraud and aggravated identity theft -- if there are other charges ... well, you get the point.

Continue reading Remorseful hacker faces 25 years

Remorseful hacker faces 25 years originally appeared on BloggingStocks on Sun, 13 Sep 2009 10:10:00 EST. Please see our terms for use of feeds.

Albert Gonzalez is calling it quits. Accused of masterminding the largest identity theft in the United States ever, he has agreed to plead guilty in U.S. District Court in Massachusetts. Separate charges filed in New Jersey, however, remain.

The 28 year-old faces 15 to 25 years in prison and will forfeit $1.65 million and a Miami condo (in addition to $1.1 million already seized). If the judge accepts the terms, this would be the longest sentence ever recorded for a hacking case.

Continue reading Hacker pleads guilty in Mass., charges pending in N.J.

Hacker pleads guilty in Mass., charges pending in N.J. originally appeared on BloggingStocks on Sun, 30 Aug 2009 10:10:00 EST. Please see our terms for use of feeds.

Staples (NASDAQ: SPLS), a seller of office supplies and a competitor of chains such as Office Depot (NYSE: ODP), OfficeMax (NYSE: OMX), and Wal-Mart (NYSE: WMT), reported Q2 earnings on Tuesday. Although they weren't that great, I can't say I felt they were a total disaster, either. I think the quarter was lackluster and indicative of the immense work ahead for management in terms of getting people into their stores and increasing sales per transaction.

According to the press release, total sales increased 9% and adjusted earnings per share declined 24% to 16 cents. That's a steep drop, but they did match analyst expectations. Staples used the increase it saw in free cash flow in a smart way: debt reduction. I approve of that move, to be sure.

Continue reading Staples' earnings drop, but meet expectations

Staples' earnings drop, but meet expectations originally appeared on BloggingStocks on Wed, 26 Aug 2009 09:30:00 EST. Please see our terms for use of feeds.

As the current advertising campaign from Staples Inc. (NASDAQ: SPLS) makes clear, the nation's largest office supply store operator is hoping for what so many retailers (aside perhaps from those participating in the cash for clunkers program) are hoping for: a boost from back-to-school sales. Unfortunately, any such sales won't affect the second quarter results that Staples is scheduled to report tomorrow morning before the market opens. Those results will include July, though, when retail sales were disappointing all around.

Staples is scheduled to discuss its second quarter 2009 results tomorrow morning in a conference call at 8:00 AM ET. You can catch the live webcast of the call on the company's website.

Continue reading Lower Q2 earnings expected from Staples

Lower Q2 earnings expected from Staples originally appeared on BloggingStocks on Mon, 24 Aug 2009 17:00:00 EST. Please see our terms for use of feeds.

Staples (NASDAQ: SPLS) issued its Q1 report on Wednesday. Call me unimpressed. It beat earnings estimates by a penny, coming in at 22 cents on an adjusted basis. Sure, that's what investors want to see. They want the bottom line to go beyond expectations.

But there isn't a lot of excitement to be had with the Staples story. According to the press release, that 22-cent figure represented a decline of 27% in per-share profit. Furthermore, there's weakness in terms of same-store sales. In the North American market, comps dipped 8%. On the international front, comps went down by 14% in Europe.

Continue reading Staples beats analysts in Q1, but tough economy causes decline in comps

Staples beats analysts in Q1, but tough economy causes decline in comps originally appeared on BloggingStocks on Thu, 28 May 2009 08:40:00 EST. Please see our terms for use of feeds.

Staples (NASDAQ: SPLS), whose colleagues include Office Depot (NYSE: ODP) and OfficeMax (NYSE: OMX), is set to report earnings for the fourth quarter on Wednesday, March 11. The famous seller of office supplies has seen its stock go from a 52-week high of $26.57 all the way down to a 52-week low of $13.57.

Actually, that's one of the better ranges I've seen! Goes to show how bad things are out there. Staples saw its shares close at $14.63 on Monday, so a beat on the bottom line could really help things out.

Will management be able to beat? I don't have much confidence that it will, but that doesn't necessarily have to do with Staples per se, it's just that the economy's got me down on so many of these earnings prospects. Analysts are hoping for Staples to do about 42 cents per share in Q4, which would represent a 10% drop in the bottom line.

Continue reading Earnings preview: Will Staples have a good day at the office this week?

Earnings preview: Will Staples have a good day at the office this week? originally appeared on BloggingStocks on Tue, 10 Mar 2009 14:00:00 EST. Please see our terms for use of feeds.

Among all the negative economic data that came out last week was a positive surprise: retail sales were higher in January. A fluke or a glimmer at the end of the tunnel? That may depend on whether we see any positive surprises arising from items on this week's economic calendar:

• Consumer Analyst Group of New York Conference: Monday through Friday
• NY Empire Manufacturing Index (Feb. 2009): Tuesday, 8:30 AM
• NAHB Housing Market Index (Feb. 2009): Tuesday, 1:00 PM
• Fed's Bullard speaks before National Association of Business Economists: Tuesday, 1:00 PM
• Housing starts (Jan. 2009): Wednesday, 8:30 AM
• Fed's Pianalto speaks before Commercial Developers Power Breakfast: Wednesday, 9:00 AM
• Industrial production (Jan. 2009): Wednesday, 9:15 AM
• Fed's Bernanke speaks before National Press Club Luncheon: Wednesday, 12:30 PM

Continue reading The week in preview: A glimmer at the end of the tunnel?

The week in preview: A glimmer at the end of the tunnel? originally appeared on BloggingStocks on Sun, 15 Feb 2009 12:30:00 EST. Please see our terms for use of feeds.

Poor Office Depot (NYSE: ODP). Have you checked the price of the retailer's stock lately? It closed on Wednesday with a value of $2.10. It actually rose over 11% that day upon news of its third-quarter earnings. I can assure you that I wasn't buying the stock.

The numbers didn't tell the story of a company that would make a worthy addition to a stock portfolio hell bent on hanging tough during a market meltdown. Instead, the 7% revenue decrease and the loss per share, on an adjusted basis, of $0.01 relate a tale of a business that one should ignore. At least that's the way I see things. Comps in the North American retail division were horrible. The return on invested capital as calculated by management took a significant drop. Let's face it, Office Depot just isn't cutting it. Granted, the economy is wreaking havoc on the business, but come to think of it, I don't really have a good picture of what the brand is supposed to be about. Well, I know it's about office supplies, but why should I shop there as opposed to Staples (NASDAQ: SPLS) or OfficeMax (NYSE: OMX)? Good question, huh? Looks like the retailer needs to get the message out as to why the shopping experience at its locations is of a higher value compared to the office stores mentioned. For that matter, I'm sure a lot of people use Wal-Mart (NYSE: WMT) to pick up office supplies too. My point is that management needs to step up its game and create some better marketing programs for its stores. Be creative like Staples. That "easy button" device is turning into a cool cultural icon (well, I might be exaggerating, but I think it's creative, at any rate).

Earlier, I said "at least that's the way I see things" in terms of my opinion about the sad state of Office Depot, but I suppose I should point out that there are obviously a lot of investors out there who don't see a lot to love when it comes to this chain. The stock is down over 63% on the one-month period at the time of this writing. I see no reason to speculate on this business. The economy isn't getting better, and Office Depot just doesn't seem to be in a strong position. What will it take to turn things around? Like I say, in addition to hoping for an improved macro climate, come up with a better advertising campaign, build a more intense connection with the consumer. Office supplies are commodities, but shopping experience is not. That's the opportunity. Differentiating a brand from the competition based on things like customer service and an easy time of it at the checkout register is a traditional strategy in the retail industry. If Office Depot can offer something in that area, it should let me know about it. Since just about every retailer is struggling to keep the traffic coming into their chains, now is the time to exploit the other guy's weakened state and grab every customer possible.

Disclosure: I don't own any company mentioned; positions can change at any time.

Office Depot has a rough Q3, needs better marketing ideas originally appeared on BloggingStocks on Thu, 30 Oct 2008 10:50:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: DOW, NASDAQ, and S&P up, however massive run leaves some in dust

Closing Bell: DOW, NASDAQ, and S&P up, however massive run leaves some in dust originally appeared on BloggingStocks on Fri, 19 Sep 2008 16:02:00 EST. Please see our terms for use of feeds.

Staples Inc. (NASDAQ: SPLS), a supplier of office products and a fierce competitor of both OfficeMax (NYSE: OMX) and Office Depot (NYSE: ODP), reported earnings for the fourth quarter yesterday. Excluding an extra calendar week, Staples saw its net sales rise by 8% to $5.3 billion and its diluted earnings per share rise by 15% to $0.47. For the full year, again excluding the extra week, net sales increased 9%; adjusted diluted earnings per share rose by 15%, coming in at $1.42. The full-year results included various adjustments related to tax issues, litigation, and stock compensation.

The numbers are okay, I suppose, but they don't necessarily make me want to jump into the stock. For one thing, same-store sales for North America declined 3% for the year (they did rise a modest 2% in Europe, however). For another, the stock is only yielding about 1.5% right now -- I'd wait for a bigger yield before thinking about Staples. Yes, it's true that the company increased its annual dividend by 14%, but I'll tell you something about that -- I am not a fan of annual dividends. I'd rather get my payout spread throughout the year.

Staples is a major brand in office supplies, and I do shop there. But nothing about this earnings report makes me want to check the retailer out any further, at least at this time. I'll have to see a few more quarters to see how the company handles the current economic malaise; for now, there are better ideas out there for one's investment dollars.

Sales rise at Staples, but do you want to own the stock? originally appeared on BloggingStocks on Wed, 05 Mar 2008 11:22:00 EST. Please see our terms for use of feeds.

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

• CEC Entertainment Inc. (NYSE: CEC) reported a profit loss and flat revenue for the fourth quarter.
• Darden Restaurants Inc. (NYSE: DRI) raised its third-quarter and full-year earnings forecasts.
• Forward Air Corp. (NASDAQ: FWRD) beat earnings estimates and offered guidance.
• General Mills Inc. (NYSE: GIS) raised its 2008 and 2010 earnings forecasts on strong sales.
• Hewlett-Packard Co. (NASDAQ: HPQ) reported better-than-expected earnings and offered bullish guidance.
• Intuit Inc. (NASDAQ: INTU) second-quarter profits fell and it offered meager guidance.
• JC Penney Inc. (NYSE: JCP) reported a smaller-than-expected profit decline for the fourth quarter.
• Medtronic Inc. (NYSE: MDT) third-quarter profit and revenue beat analysts' expectations.
• OfficeMax Inc. (NYSE: OMX) easily beat fourth-quarter earnings expectations on lower costs.
• TJX Companies Inc. (NYSE: TJX) fourth-quarter profit beat estimates and helped raise the retail outlook.
• Whole Foods Market Inc. (NASDAQ: WFMI) earnings were dragged down by the Wild Oats acquistion.

Also, Douglas McIntyre examines how a slowdown in orders is likely to affect the earnings of Airbus and Boeing Co. (NYSE: BA), and Brian White looks at how HP might "do better" for the rest of this year.

Upcoming results to watch for include Lowes Companies Inc. (NYSE: LOW), Office Depot Inc. (NYSE: ODP), Home Depot Inc. (NYSE: HD), AutoZone Inc. (NYSE: AZO), Viacom Inc. (NYSE: VIA), and Freddie Mac (NYSE: FRE).

Visit AOL Money & Finance for more earnings coverage.

Earnings highlights: HP, General Mills, Whole Foods, OfficeMax and others originally appeared on BloggingStocks on Sat, 23 Feb 2008 15:40:00 EST. Please see our terms for use of feeds.

OfficeMax (OMX) on the move after Q4 earnings originally appeared on BloggingStocks on Tue, 19 Feb 2008 11:35:00 EST. Please see our terms for use of feeds.

Here are a few highlights of this past week's earnings coverage from BloggingStocks:

• Abercrombie & Fitch Co. (NYSE: ANF) beat estimates on strong sales and higher profit margins.
• Baidu.com Inc. (NASDAQ: BIDU) profit soared on strong revenue from online marketing.
• Coca-Cola Co. (NYSE: KO) earnings and revenue surged in the fourth quarer.
• Dean Foods Co. (NYSE: DF) missed expectations on rising commodity costs and lower profit margins.
• Deere & Co. (NYSE: DE) posted better-than-expected profits as rising grain prices spurred demand.
• Goodyear Tire & Rubber Co. (NYSE: GT) posted solid results on cost savings and debt reduction.
• Insight Enterprises Inc. (NASDAQ: NSIT) beat expectations and raised its guidance.
• LECG (NASDAQ: XPRT) posted a net loss despite a slight increase in revenue in the fourth quarter.
• Loews Corp. (NYSE: LTR) missed estimates due to profit decline in its CNA Financial (NYSE: CNA) affiliate.
• Marsh & McLennan Inc. (NYSE: MMC) missed estimates on weakness in its insurance services business.
• Playboy Enterprises Inc. (NYSE: PLA) posted disappointing results on weakness in publishing and TV.
• Qwest Communications International Inc. (NYSE: Q) fourth-quarter and full-year results met estimates.
• Sierra Wireless Inc. (NASDAQ: SWIR) beat esimates on the launch of new product s.
• Taser International Inc. (NASDAQ: TASR) profits doubled, which was in line with expectations.
• Visteon Corp. (NYSE: VC) posted a fourth-quarter loss on restructuring costs and write-downs.
• Waste Management Inc. (NYSE: WMI) beat espectations and offered 2008 guidance.
• Wyndham Worldwide Corp. (NYSE: WYN) earnings met expectations and were buoyed by lodging revenue.
• Zoltek Companies Inc. (NASDAQ: ZOLT) missed earnings estimates due to inventory buildup.

Upcoming results to watch for include Wal-Mart (NYSE: WMT), Hewlett-Packard (NYSE: HPQ), OfficeMax (NYSE: OMX), Whole Foods (NASDAQ: WFMI), MGM Mirage (NYSE: MGM), JCPenney (NYSE: JCP), and Safeway (NYSE: SWY).

Visit AOL Money & Finance for more earnings coverage.

Earnings highlights: Coca-Cola, Deere, Abercrombie, Baidu, Playboy, Taser and others originally appeared on BloggingStocks on Sat, 16 Feb 2008 15:40:00 EST. Please see our terms for use of feeds.

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

• Applied Materials Inc. (NASDAQ: AMAT) first-quarter profits fell due to market conditions.
• Best Buy Inc. (NYSE: BBY) lowered its earnings forecast on declining sales.
• Campbell Soup Co. (NYSE: CPB) posted unexciting second-quarter results, but shares rose anyway.
• Chipotle Mexican Grill Inc. (NYSE: CMG) posted solid results but fell short of expecations.
• Comcast Corp. (NASDAQ: CMCSA) beat expectations and annouced it first dividend in a decade.
• Denny's Corp. (NASDAQ: DENN) fourth-quarter results were dragged down by the sale of restaurants.
• General Motors Corp. (NYSE: GM) posted a record loss and made a buyout offer to union employees.
• Hasbro Inc. (NYSE: HAS) post better-than-expected fourth-quarter results on popularity of the Transformers.
• Jones Apparel Group Inc. (NYSE: JNY) narrowed its loss in the fourth quarter as restructuring continued.
• Lions Gate Entertainment Corp. (NYSE: LGF) missed earnings estimates despite strong revenue growth.
• Marriott International Inc. (NYSE: MAR) profit fell on losses from discontinued operations.
• Molson Coors Brewing Co. (NYSE: TAP) beat estimates as profits rose 75%.
• PolyOne Corp. (NYSE: POL) beat expectations and raised its guidance.
• Schering-Plough Corp. (NYSE: SGP) beat expectations, excluding a charge for acquistion costs.
• UBS (NYSE: UBS) posted a big loss on write-downs due to the subprime crisis.
• VNUS Medical Technologies Inc. (NASDAQ: VNUS) beat expectations on strength overseas.
• World Wrestling Entertainment (NYSE: WWE) beat expectations despite weakness in its movie business.

Also, Jim Cramer defends his interest in GM after its record loss.

Upcoming results to watch for include Wal-Mart (NYSE: WMT), Hewlett-Packard (NYSE: HPQ), OfficeMax (NYSE: OMX), Whole Foods (NASDAQ: WFMI), MGM Mirage (NYSE: MGM), JCPenney (NYSE: JCP), and Safeway (NYSE: SWY).

Visit AOL Money & Finance for more earnings coverage.

Earnings highlights: GM, Comcast, UBS, Best Buy, Hasbro, Marriott, and others originally appeared on BloggingStocks on Sat, 16 Feb 2008 09:40:00 EST. Please see our terms for use of feeds.