RHT posts
FeedPosted Sep 26th 2009 1:10PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Automatic Data Proc (ADP), AutoZone Inc (AZO), Bed Bath and Beyond (BBBY), Carnival Corp (CCL), ConAgra Foods (CAG), Costco Wholesale (COST), Research in Motion (RIMM), General Mills (GIS), Lowe's Cos (LOW), Lennar Corp'A' (LEN), Red Hat Inc (RHT), Activision Inc (ATVI), United Technologies (UTX), Rite Aid Corp (RAD), Potash Corp. of Saskatchewan (POT)
Continue reading Earnings highlights: AutoZone, Carnival, CarMax, ConAgra, General Mills, RIM ...
Posted Sep 24th 2009 2:40PM by Steven Mallas (RSS feed)
Filed under: Earnings reports, Microsoft (MSFT), Oracle Corp (ORCL), Red Hat Inc (RHT), Technology
Red Hat (NYSE: RHT), a software business whose colleagues include Microsoft (NASDAQ: MSFT) and Oracle (NASDAQ: ORCL), reported Q2 numbers yesterday after the bell. Today, shares are up quite spectacularly. What's driving all the buying interest?
Well, the results were worthy of praise. Net sales increased 12%. Subscriptions were higher by 15%. Adjusted income, including the elimination of a tax benefit from the total, was 16 cents per share. According to Earnings.com, the market was looking for 15 cents per share. So, we've got the typical beat-by-a-proverbial-penny situation on our hands. I'd rather it be more than a penny, but I'll take it.
Continue reading Red Hat up big on Q2 numbers -- should you take profits?
Posted Sep 8th 2009 11:20AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, General Electric (GE), Amer Intl Group (AIG), Harley-Davidson (HOG), Analyst initiations
Analyst upgrades:
- Bernstein upgraded Lincoln National (NYSE: LNC) to Outperform from Market Perform based on relative valuation and expectations the company will repay TARP without a capital raise. The firm raised its target to $34 from $26.
- Thomas Weisel upgraded Ticketmaster (NASDAQ: TKTM) to Overweight from Market Weight and raised its target to $12 from $8 citing dynamic ticket pricing and the potential merger with Live Nation (NYSE: LYV).
- Citigroup upgraded Harley-Davidson (NYSE: HOG) to Hold from Sell after channel checks indicated retail sales have improved since Q2. The firm raised its target on shares to $26 from $14.
- McDermott (NYSE: MDR) was upgraded to Outperform from Neutral at Credit Suisse.
- Ericsson (NASDAQ: ERIC) was upgraded to Hold from Sell at Deutsche Bank.
- General Electric (NYSE: GE) was upgraded to Overweight from Neutral at JPMorgan.
Continue reading Analyst upgrades, downgrades and initiations: AIG, DFS, ERIC, GE, HOG, SYMC ...
Posted Jul 23rd 2009 11:00AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations
Analyst upgrades:
- Citigroup upgraded Robert Half (NYSE: RHI) to Hold from Sell following the company's Q2 results, believing the worst may be behind the company. Citi raised its target on shares to $24 from $18.
- Goldman upgraded AnnTaylor (NYSE: ANN) to Buy from Neutral and raised its target to $13 from $6.50, citing improved merchandising and inventories.
- Baird upgraded TrueBlue (NYSE: TBI) to Outperform from Underperform and raised its target to $12 from $9, citing the better-than-expected Q2 report and guidance, strong balance sheet, and valuation.
- F5 Networks (NASDAQ: FFIV) was upgraded to Neutral from Underperform at BofA/Merrill.
- Credit Suisse (NYSE: CS) was upgraded to Buy from Hold at Deutsche Bank.
- Sanmina (NASDAQ: SANM) was upgraded to Neutral from Underperform at Credit Suisse.
Continue reading Analyst upgrades, downgrades and initiations: ANN, CS, MCO, NRG, RHT, TJX ...
Posted Jun 27th 2009 9:40AM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Walgreen Co (WAG), Bed Bath and Beyond (BBBY), Kroger Co (KR), ConAgra Foods (CAG), Darden Restaurants (DRI), NIKE, Inc'B' (NKE), KB HOME (KBH), Lennar Corp'A' (LEN), Oracle Corp (ORCL), Red Hat Inc (RHT), CKE Restaurants (CKR), Rite Aid Corp (RAD), Potash Corp. of Saskatchewan (POT)
Here are some highlights from this past week's earnings coverage from BloggingStocks:
Continue reading Earnings highlights: Nike, Oracle, Kroger, Walgreen, Monsanto, KB Home ...
Posted May 15th 2009 2:20PM by Melly Alazraki (RSS feed)
Filed under: Analyst reports, Deals, Hewlett-Packard (HPQ), International Business Machines (IBM), Oracle Corp (ORCL), Novell Inc (NOVL), Red Hat Inc (RHT)

First it was
Barron's on Monday saying
Red Hat (NYSE:
RHT), a provider of Linux open-source operating-system software,
will likely be in play.
"What makes it strategically important is that it sells the dominant operating system (other than Windows) favored by big corporate users,"
Barron's Mark Veverka said. The possible interested parties?
IBM (NYSE:
IBM),
Oracle (NASDAQ:
ORCL) and
Hewlett-Packard (NYSE:
HPQ).
Then, today, Jefferis analyst Katherine Egbert
supported that argument, saying that it is "inevitable that Red Hat will be subsumed into a larger entity, probably IBM." Egbert reiterated her Buy rating and upped her price target to $21, from $18.
Continue reading Red Hat 'inevitably' a target -- stock jumps 8%
Posted Dec 22nd 2008 8:14AM by Melly Alazraki (RSS feed)
Filed under: Before the bell, Earnings reports, Analyst reports, Analyst upgrades and downgrades, Deals, Wal-Mart (WMT), General Motors (GM), Toyota Motor Corp. (TM), Walgreen Co (WAG), American Express (AXP), Amer Intl Group (AIG), Red Hat Inc (RHT)
Toyota Motor Corp. (NYSE: TM) slashed its earnings forecast again Monday, the second time in a few months. The Japanese carmaker is now projecting that it would report its first ever operating loss of 150 billion yen ($1.66 billion) for the fiscal year as global demand has declined, especially in the U.S., while the yen has surged. TM shares declined over 3% in premarket trade.
TM traded 5% lower by midday trading.
American International Group, Inc. (NYSE: AIG) said Monday it
sold its Hartford Steam Boiler (HSB) unit to Germany's Munich Re for $742 million, well below the $1.2 billion AIG paid to acquire HSB in 2000. HSB was one of AIG's most prized businesses. Munich Re will assume $76 million of outstanding capital securities. AIG shares jumped over 5.5% on the news in premarket trade.
AIG shares were 4.3% higher by midday. General Motors Corp. (NYSE: GM) and Chrysler were approved $13.4 billion in bailout funds on Friday from the Bush Administration and another $3.29 billion from the Canadian and Ontario governments for their Canadian subsidiaries. Now, a hard part would be
talks with the United Auto Workers union, which are supposed to start in January. Now doubt, they will ask for some tough concessions so that they could present cost cuts and qualify for a second round of loans in February. GM shares declined over 7% in premarket trade.
GM shares tanked nearly 17% by midday trading. Continue reading Stocks in the news: TM, AIG, GM, WMT, WAG, AXP, IFX ... (update)
Posted Dec 21st 2008 12:30PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Forecasts, Economic data
There's not a whole lot on the economic calendar this coming week, as Thursday is Christmas day. But things are not entirely silent either.
As this is Christmas card season, it's somehow appropriate that American Greetings Corp. (NYSE: AM) is scheduled to report fiscal third-quarter results. Analysts surveyed by Thomson Reuters expect the nation's number two producer of greeting cards to report earnings of $0.52 per share, essentially the same as a year ago. Estimated revenue for the quarter is $474.5 million, down 2.3% from a year ago. American Greetings missed analysts' estimates in three of the past four quarters -- by 55.4% in the first quarter. After falling to a multiyear low of $7.85 per share in late November, the price closed Friday at $9.92. But the share price is 53.8% lower than a year ago.
Drugstore chain Walgreen Co. (NYSE: WAG), where one may find American Greetings cards, is expected to also report earnings the same as a year ago, or $0.46 per share, on revenue of $15.1 billion (+7.5%). Walgreen reported a modest increase in sales in October and again in November. The company only missed profit estimates in one of the past four quarters, and that by only a penny. The consensus recommendation remains to buy WAG, which has a long-term EPS growth rate forecast of 12.5%, better than the S&P 500 but less than that of rival CVS Caremark Corp. (NYSE: CVS). Walgreen's share price has been creeping upward since reaching a multiyear low of $21.28 in October and closed Friday at $26.08. (For more on Walgreen, see Steven Mallas's earnings preview.)
Continue reading The week in preview: Pre-holiday reports
Posted Dec 6th 2008 11:10AM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, General Electric (GE), Johnson and Johnson (JNJ), Sears Holdings (SHLD), Research in Motion (RIMM), Goldman Sachs Group (GS), Yum Brands (YUM), Staples Inc (SPLS), Red Hat Inc (RHT), Merck and Co (MRK), Palm Inc (PALM), Marvell Technology Group (MRVL)
Here are some highlights from this past week's earnings coverage from BloggingStocks:
Continue reading Earnings highlights: Sears, GE, Goldman Sachs, Johnson & Johnson, Staples and others
Posted Dec 4th 2008 1:28PM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Amazon.com (AMZN), Schlumberger Limited (SLB), Red Hat Inc (RHT), Analyst initiations, YRC Worldwide (YRCW), BHP Billiton Ltd ADR (BHP), Rio Tinto plc ADS (RTP)
Analyst upgrades:
- Jefferies upgraded shares of Red Hat (NYSE:RHT) to Buy from Hold after their checks indicated Red Hat's November quarter results will be in-line due to solid Jboss sales. The firm also believes a potential new partnership with Cisco (NASDAQ:CSCO) could provide share upside.
- Barclays upgraded Amazon.com (NASDAQ:AMZN) to Overweight from Equal Weight as they believe the company's competitive position will strengthen during the current downturn and that the company will gain share.
- JP Morgan upgraded YRC Worldwide (NASDAQ:YRCW) to Neutral from Underweight following the announcement that the company and the Teamsters will vote on contract modifications.
- Del Monte Foods (NYSE:DLM) was raised to Overweight from Equal Weight at Stephens.
- Thomson Reuters (NYSE:TRI) was upgraded at Morgan Stanley to Equal Weight from Underweight.
- Reliant Energy (NYSE:RRI) was lifted to Outperform from Market Perform at Wachovia.
Analyst downgrades:
- B. Riley downgraded shares of Hot Topic (NASDAQ:HOTT) to Neutral from Buy to reflect a lack of visibility into 2009 and valuation but raised their target price to $9.30 from $8.20.
- Citigroup cut KLA-Tencor (NASDAQ:KLAC) to Hold from Buy to reflect their more offensive stance on the semi group as they view KLA-Tencor as a more defensive name. The firm lowered their target to $22 from $31.
- KeyBanc downgraded Arch Chemicals (NYSE:ARJ) to Underweight from Hold citing global economic headwinds, the stronger dollar, pension costs, and continued weakness in North American housing, among other reasons.
- Jo Ann Stores (NYSE:JAS) was cut to Hold from Buy at Soleil.
- Calyon downgraded Schlumberger (NYSE:SLB) to Outperform from Buy.
- Amdocs (NYSE:DOX) was downgraded to Neutral from Buy at Goldman.
Continue reading Analyst upgrades, downgrades and initiations: RHT, AMZN, DLM, BHP, RTP
Posted Jun 28th 2008 9:40AM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Google (GOOG), Walgreen Co (WAG), Bed Bath and Beyond (BBBY), Kroger Co (KR), Darden Restaurants (DRI), Research in Motion (RIMM), General Mills (GIS), NIKE, Inc'B' (NKE), KB HOME (KBH), Oracle Corp (ORCL), Red Hat Inc (RHT), United Parcel'B' (UPS), Palm Inc (PALM), CKE Restaurants (CKR), Rite Aid Corp (RAD)
Here are some highlights from this past week's earnings coverage from BloggingStocks:
Continue reading Earnings highlights: RIM, Oracle, KB Home, Nike, Kroger, Walgreen and others
Posted Jun 26th 2008 5:30PM by Todd Harrison (RSS feed)
Filed under: Earnings reports, Research in Motion (RIMM), Oracle Corp (ORCL), Smartphones, Technology, NASDAQ
Minyanville Professor Adam Katz dares to share the kind of keen insight and actionable information you won't find in any prospectus. For more original thought, visit www.minyanville.com.
I've said it before: the second quarter is going to be the inverse of the first. Expectations going in were simply too high.
What I find interesting is that Oracle (NASDAQ: ORCL), Red Hat (NYSE: RHT) and Research In Motion (NASDAQ: RIMM) have all taken down guidance due to the sluggishness they're starting to see in their businesses.
What the Street seems to be ignoring is that the dollar has been crushed for over a year now, which means that the currency tailwind is only getting weaker as the year drags on. If one uses $1.55 euro per dollar as a benchmark, the second-quarter effect was a 14% year-over-year currency tailwind.
In the third quarter, that drops to 10%; in the fourth, it will drop to 5%. Add in macroeconomic headwinds -- along with the fact that credit markets have been pushed back into a state of mild panic -- and it's a surefire recipe for a very tumultuous back half of the year.
I'm looking hard for reasons to be optimistic, but they seem to be thin on the ground. In the information technology (IT) sector, at least, we'll likely see a meaningful budget flush at the end of the year - if only because they'll be cut in a big way starting in 2009. This means that IT managers, if they even think they might need anything over the next year or so, need to use or lose whatever's left in their 2008 budgets come the fourth quarter.
This will create an environment where people will be calling the bottom for IT in the fourth quarter - but it's more likely to be the last hurrah before the bottom drops out.
Position in RHT
Posted Jun 26th 2008 11:36AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, General Motors (GM), Citigroup Inc. (C), Research in Motion (RIMM), Goldman Sachs Group (GS), Morgan Stanley (MS), Red Hat Inc (RHT)
MOST NOTEWORTHY: The U.S. Brokers sector, Goldman Sachs and Research in Motion were today's noteworthy downgrades:
- Goldman downgraded U.S. Brokers to Neutral from Attractive since they can not find a catalyst to move the group significantly higher over the next few months given the continued deterioration in fundamentals. Goldman added Citigroup (NYSE:C) to their Conviction Sell List as they expect additional write-downs of $8.9B in Q2 and see the potential for additional capital raises. Goldman lowered their target price on Citigroup shares to $16 and recommends a pair trade of long Morgan Stanley (NYSE:MS), short Citigroup.
- Wachovia downgraded Goldman Sachs (NYSE:GS) shares to Market Perform from Outperform on renewed economic fears, a likely slower pace of substantial capital raises, seasonally slower prime brokerage, and valuation.
- Research in Motion (NASDAQ:RIMM) was cut to Market Perform from Outperform at JMP Securities following the weaker-than-expected Q1 report and guidance and lowered FY09 EPS estimates on increased spending.
OTHER DOWNGRADES:
Posted Jun 25th 2008 6:40PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Bed Bath and Beyond (BBBY), General Mills (GIS), NIKE, Inc'B' (NKE), Red Hat Inc (RHT), CKE Restaurants (CKR)
Here's a quick recap of some additional earnings reports on Wednesday.
Beaverton, Ore.-based Nike Inc. (NYSE: NKE) said strong growth overseas helped boost its fourth-quarter profit by 12% to $490.5 million, or 98 cents per share. Analysts polled by Thomson Financial expected the company to earn 96 cents per share for the quarter. Shares fell more than 5% in after-hours trading to $62.15.
CKE Restaurants Inc. (NYSE: CKR) said its first-quarter profit climbed 8% to $16.6 million, or 31 cents per share, helped by a small increase in same-store sales at Carl's Jr. restaurants. Revenue fell 3% to $466.2 million. Analysts polled by Thomson Financial expected profit of 27 cents per share on revenue of $465.5 million. Shares fell 5 cents to $12.25 in after-hours trading.
Red Hat Inc. (NYSE: RHT) said its fiscal first-quarter profit rose 6.6% to $17.3 million, or 8 cents per share. Adjusted earnings were 18 cents per share. Revenue rose 32% to $156.6 million. Analysts polled by Thomson Financial on average predicted a profit of 18 cents per share on revenue of $153 million. Shares fell 19 cents in after-hours trading to $22.11.
General Mills Inc. (NYSE: GIS) said its fourth-quarter profit dropped 17% to $185.2 million, or 53 cents per share. Adjusted earnings were 73 cents per share, which met Wall Street expectations. Sales increased 13% to $3.47 billion beating expectations. The company reaffirmed its guidance for the full year. Shares fell almost 2% to $61.19.
Continue reading More Wednesday earnings: Nike, CKE, Red Hat, General Mills, Bed Bath & Beyond
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