Analyst Upgrades

• Goldman upgraded Reliance Steel (RS) to buy from neutral and The Buckle (BKE) to neutral from sell.
• RAM Energy (RAME) was upgraded to outperform from market perform at Rodman & Renshaw.
• RBC Capital upgraded H&E Equipment (HEES) and Cameco (CCJ) to outperform from sector perform, and Denison Mines (DNN) to sector perform from underperform.
• Alexandria Real Estate (ARE) was upgraded to overweight from neutral at JPMorgan.
• Investment Technology (ITG) was upgraded to outperform from neutral at Wedbush.

Continue reading Analyst Calls: AKS, BXP, CCJ, CXW, GBX, PETM, RIMM, RS, SIRI SOHU ...

Analyst Calls: AKS, BXP, CCJ, CXW, GBX, PETM, RIMM, RS, SIRI SOHU ... originally appeared on BloggingStocks on Tue, 09 Nov 2010 12:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• UBS said Martin Marietta's (MLM) Q2 showed evidence of leverage to a recovery and the firm views risk/reward in shares as attractive. Shares were upgraded to buy from neutral, but its price target was lowered to $96 from $101.
• Soleil upgraded Regis (RGS) to buy from hold after the company said it is exploring strategic options. The firm raised its target for shares to $26 from $14.
• Wunderlich upgraded Sirius XM Radio (SIRI) to buy from hold with a $1.50 price target following the company's Q2 results. The firm believes Sirius' product continues to resonate with healthier higher-end consumers and notes that CEO Mel Karmazin said a resolution could be reached with Howard Stern by the Q3 conference call.
• Magellan Midstream (MMP) was upgraded to outperform from sector perform at RBC Capital.
• Savient (SVNT) was upgraded to neutral from underperform at BofA/Merrill.
• EMS Tech (ELMG) was upgraded to buy from hold at Needham.

Continue reading Analyst Calls: CTRN, ICE, JACK, MLM, NNN, OPTR, PCG, RGS, RYN, SIRI ...

Analyst Calls: CTRN, ICE, JACK, MLM, NNN, OPTR, PCG, RGS, RYN, SIRI ... originally appeared on BloggingStocks on Thu, 05 Aug 2010 12:00:00 EST. Please see our terms for use of feeds.

Sirius XM Radio (SIRI) shares opened lower Monday morning, pushing down near the $1 mark. But investors who have been watching this stock for a while know that it can give up a lot more before it shows signs of slowing down. SIRI is up a stunning 70% year to date, even while the broader market is in the red.

In fact, I think there's a tremendous buying opportunity in Sirius stock right now since shares have drawn back about 20% from a their high in the beginning of May.

Continue reading Get Serious About Buying Sirius XM

Get Serious About Buying Sirius XM originally appeared on BloggingStocks on Mon, 24 May 2010 13:00:00 EST. Please see our terms for use of feeds.

Continue reading Sirius XM Swings to Profit

Sirius XM Swings to Profit originally appeared on BloggingStocks on Thu, 25 Feb 2010 09:50:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Options and index re-balance aid bulls (ARNA, AMR, PALM, SIRI, VVUS)

Closing Bell: Options and index re-balance aid bulls (ARNA, AMR, PALM, SIRI, VVUS) originally appeared on BloggingStocks on Fri, 18 Sep 2009 16:00:00 EST. Please see our terms for use of feeds.

Over the past five years, shares of what is now Sirius XM Satellite Radio (NASDAQ: SIRI) have declined from a high of $9 per share to their current price of less than 50 cents per share. Granted, most of that hasn't been CEO Mel Karmazin's fault, and he was able to stave off bankruptcy by engineering an 11th-hour loan from Liberty Media.

But still, is that really a track record that entitles the CEO to a raise? Mr. Karmazin's salary went from $1.25 million to $1.5 million, but that isn't even the worst part. The Wall Street Journal (subscription required) reports that "He also gets options to purchase 120 million shares, which he can exercise at 43 cents a share."

Continue reading Why is Mel Karmazin getting a raise?

Why is Mel Karmazin getting a raise? originally appeared on BloggingStocks on Thu, 02 Jul 2009 08:30:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: A quiet day that didn't look quiet (BRK.A, BBI, SLM, SIRI, SWI, STT)

Closing Bell: A quiet day that didn't look quiet (BRK.A, BBI, SLM, SIRI, SWI, STT) originally appeared on BloggingStocks on Mon, 29 Jun 2009 16:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: When 'less-bad' starts looking great (AXP, DNDN, GM, SIRI, SBUX, YHOO)

Closing Bell: When 'less-bad' starts looking great (AXP, DNDN, GM, SIRI, SBUX, YHOO) originally appeared on BloggingStocks on Wed, 15 Apr 2009 16:20:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Can you say two rallies in a row? Barely (AAPL, JPM, MS, SIRI)

Closing Bell: Can you say two rallies in a row? Barely (AAPL, JPM, MS, SIRI) originally appeared on BloggingStocks on Wed, 11 Mar 2009 16:05:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: A strong selloff day as Dow, S&P, Nasdaq slip; DE, XOM, GM, JNJ, SIRI

Closing Bell: A strong selloff day as Dow, S&P, Nasdaq slip; DE, XOM, GM, JNJ, SIRI originally appeared on BloggingStocks on Tue, 17 Feb 2009 16:00:00 EST. Please see our terms for use of feeds.

Sirius XM (SIRI) reaches 11th-hour deal originally appeared on BloggingStocks on Tue, 17 Feb 2009 09:45:00 EST. Please see our terms for use of feeds.

It is being reported that Sirius XM is preparing for bankruptcy and this could be the week it happens.

After reading numerous stories about Sirius XM Radio (NASDAQ: SIRI) posted by my colleagues here and elsewhere, and tossing in my own two cents (see GM/Chrysler or Sirius/XM: Two losers don't equal a winner and Sirius and XM: Two losers -- A follow-up), I was pondering what, if anything, might have been missed by analysts and investors alike that has hurt the success of this company. It may be something as simple as misjudging the size of the market.

Continue reading Sirius's problem: A niche business with broad market expenses

Sirius's problem: A niche business with broad market expenses originally appeared on BloggingStocks on Mon, 16 Feb 2009 10:40:00 EST. Please see our terms for use of feeds.

The stock market is tough enough to navigate without having to deal with roadblocks that have nothing to do with corporate execution of a business plan or normal supply-and-demand dynamics for equity securities.

We make an investment on reasonable assumptions and take the risk that such assumptions pan out. What we can't do is foresee events that are totally outside of the control of the company, economy, or ourselves. For example, if we buy a stock of a company that utilizes acquisitions as part of its strategy, we can safely assume from past examples that the government will approve or disapprove such acquisitions in a reasonable amount of time.

Continue reading Blame Uncle Sam for the demise of Sirius

Blame Uncle Sam for the demise of Sirius originally appeared on BloggingStocks on Thu, 12 Feb 2009 18:40:00 EST. Please see our terms for use of feeds.

As each month passes, more and more companies get into the kind of trouble that pushes them toward Chapter 11 or insolvency. Some of the companies that hit that point several months ago include Sirius XM (NASDAQ: SIRI) and Charter Communications (NASDAQ: CHTR).

In the next several months two or three large companies could be added to the list.

Advanced Micros Devices (NYSE: AMD) posted a narrow loss last quarter compared with the same quarter a year ago, but a third of its revenue disappeared. If PC and server sales get worse, its sales could shrink faster than the company can cut costs. The firm's gross margins are dropping fast and AMD has long term debt of over $4.7 billion.

Citigroup (NYSE: C) still faces the prospects that it could be nationalized if it posts more huge losses in the first quarter. Last week, its market cap dropped to $17 billion. A massive capital investment from the Treasury could wipe that equity out.

General Motors (NYSE: GM) may seem like an obvious choice, but its shares could go to zero faster than investors think. If the UAW or creditors walk away from restructuring talks, GM's attempt to cut its costs to get more government assistance based on a plan to be submitted on March 31 would be ruined.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Stock prices headed toward zero originally appeared on BloggingStocks on Sat, 24 Jan 2009 06:01:00 EST. Please see our terms for use of feeds.

Almost two years ago I posted a downbeat opinion about a merger that went through and one that did not. However the latter is being discussed again, unbelievable! SEE: GM/Chrysler or Sirius/XM: Two losers don't equal a winner.

In the story I rant about all the things that would improve General Motors (NYSE: GM) and where it is lacking -- noting that being bigger and having more models, less focus and more debt, are not among them. Eventually Cerberus made the big bet and lost. You can be sure they would like to play that hand over again.

Now all three U.S. car companies are in trouble with billions of dollars of losses and huge debt overhangs. All three begged for, and received some amount of federal relief and will need more to sustain themselves though 2009 as it proves to be every bit as tough as 2008 was. Despite everything, GM and Chrysler have been pondering a merger again. BAD IDEA! GM does not need the distraction, they need more focus -- nothing but intense focus!

Continue reading Mergers not heaven sent: Citi, GM, Chrysler, Sirius, AOL, Yahoo!, Microsoft

Mergers not heaven sent: Citi, GM, Chrysler, Sirius, AOL, Yahoo!, Microsoft originally appeared on BloggingStocks on Sat, 17 Jan 2009 12:40:00 EST. Please see our terms for use of feeds.

The beginning of the year is a time to look forward and to look back. To help put things in perspective, here are some highlights from BloggingStocks one year ago, January 4, 2008:

• Jobless rate reaches 5%, is a recession imminent?
• Ford's Sync is a hit -- the new Focus, not so much
• Sirius gets more subscribers, but no merger
• General Motors turning 100 in a precarious position
• Gold stocks set new highs as gold continues to climb
• Is oil headed to $150 or $55?
• Boeing's orders soar to record 1,413 in 2007
• FINRA investigates sales of mortgage securities
• Passion prevailed in Iowa caucuses
• The Fed's quandary: Stimulate economy, but not inflation
• Ford shares sink as Toyota takes U.S. number-two spot
• Google must maintain laser focus on search throughout 2008
• Unemployment hits 5%, and the Dow nosedives 256 points
• Britney Spears hospitalization sends Starbucks shares tumbling

Sometimes, the more things change, the more they stay the same. See these recent Bloggingstocks posts:

• A new case for higher unemployment
• Ford struggles to see light at end of the tunnel
• Sirius XM shareholders OK reverse stock split -- it's not going to help
• Quiz: Which commodity just hit a 23-year high?
• Can Barack Obama save the car industry?
• For U.S., deflation remains the greater risk
• Google to employees: No $20,000 bonuses this year

A year ago on BloggingStocks: January 4, 2008 originally appeared on BloggingStocks on Sun, 04 Jan 2009 18:10:00 EST. Please see our terms for use of feeds.

In my Top 10 Stocks to Avoid in 2009, I suggested that investors stay away from stocks impacted by a handful of specific themes that will play out during the coming year.

Stocks impacted by higher fuel prices, a stronger U.S. dollar, and high defaults in the credit card space should be investment afterthoughts in 2009.

One theme that did not make the list, and probably should have, are companies with so-called debt bombs set to go off at some point during the next year. There are many businesses that have big debts coming due in 2009.

With the credit markets in disarray, the likelihood of obtaining new loans to replace old debt is difficult at best. As such, companies must obtain concessions from bond holders or run the risk of going into default. Whatever scenario plays out, the result is likely to be negative for common shareholders. With so much risk, it makes little sense to venture into stocks with these issues outstanding.

Continue reading Debt bombs defused at Macy's, American Apparel

Debt bombs defused at Macy's, American Apparel originally appeared on BloggingStocks on Sat, 20 Dec 2008 13:10:00 EST. Please see our terms for use of feeds.

Voting continues in our Best & Worst in Money 2008 feature, and it looks like early favorites include falling gasoline prices, Wal-Mart, Joe the Plumber, and former New York Governor Eliot Spitzer. Did they get your vote?

Close races include the Breakout Person of the Year, in which vice presidential contender Sarah Palin and Olympic gold medal winner Michael Phelps duke it out for first place, while poor Neel Kashkari, who is in charge of the U.S. Treasury's financial relief funds, is in last place with only about 6% of the vote.

The Most Disturbing Consumer Trend is another close race, with plunging retirement accounts and falling home values virtually a tie. It's also a very close race between Wall Street and Kmart for Most in Need of a Makeover. Not much interest in making over Starbucks (NASDAQ: SBUX), however, as it has only about 4% of the vote in that category.

Lower fuel prices are clearly the most popular Silver Lining to the Recession with about 62% of the vote so far. Joe the Plumber, with 57% of the vote, has a clear lead over distant second place Rev. Jeremiah Wright as the Most Notable 15 Minutes of Fame. And disgraced New York Governor Eliot Spitzer leads the Biggest Fall from Grace category with about 56% of the vote.

Continue reading Best & Worst in Money 2008: Early voting results

Best & Worst in Money 2008: Early voting results originally appeared on BloggingStocks on Tue, 16 Dec 2008 16:36:00 EST. Please see our terms for use of feeds.

This post is part of AOL Money & Finance's Best & Worst in Money 2008 feature.

There have been big hopes for all the nominees in this category at one time or another, but they've also suffered from questionable management moves of various sorts. So what's to root for in any of these companies?

Circuit City was founded in 1949; back then it was known as Wards Company. The big-box format and Circuit City name came as the result of a series of retail experiments, and became official in 1984. The company was listed on the New York Stock Exchange in the same year. In 1991, the company established a bank to operate its private-label credit card, and later offered a co-branded Visa. Big-box used car retailer CarMax (NYSE: KMX) was also owned by Circuit City at one point. In 2005, the company's board rejected a buyout offer; the company was worth a reported $1 billion then. The next year, Philip J. Schoonover became chairman, and ... well, the rest is history. Circuit City is now in Chapter 11.

Citigroup (NYSE: C) was formed in 1998 from one of the largest mergers in history: banking giant Citicorp and financial conglomerate Travelers Group. The company holds over 200 million customer accounts in more than 100 countries, and includes the investment services brands Smith Barney and Primerica. The company owns prominent, renowned buildings in Manhattan and Chicago, and also won naming rights to the new ball park of the New York Mets. But it was the subprime mortgage crisis that was Citigroup's undoing, resulting in the need for the recent federal bailout.

Continue reading Best & Worst in Money 2008: Struggling company we're rooting for most

Best & Worst in Money 2008: Struggling company we're rooting for most originally appeared on BloggingStocks on Fri, 05 Dec 2008 10:40:00 EST. Please see our terms for use of feeds.

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

• Abercrombie & Fitch Co. (NYSE: ANF) reported lower quarterly profits and cut its full-year outlook.
• Applied Materials Inc. (NASDAQ: AMAT) beat Q4 earnings expectations but revenues tumbled.
• Blackstone Group (NYSE: BX) reported a big loss in Q3, like many other private equity firms.
• Crocs Inc. (NASDAQ: CROX) posted a deeper-than-estimated Q3 net loss due to restructuring costs.
• Cypress Semiconductor Corp. (NYSE: CY) warned that it expects to swing to a net loss in Q4.
• Google Inc. (NASDAQ: GOOG) fell to a three-year-low despite expected growth in profits and revenues.
• Intel Corp. (NASDAQ: INTC) lowered its revenue forecast for Q4, which was bad news for PC makers.
• Kohl's Corp. (NYSE: KSS) beat low earnings expectations by a penny as same-store sales declined.
• Lions Gate Entertainment Corp. (NYSE: LGF) narrowed its net loss in Q2 but fell short of estimates.
• Nordstrom Inc. (NYSE: JWN) said its Q3 profit tumbled as its same-store-sales declined.
• Orbitz Wordlwide Inc. (NYSE: OWW) reported a wider net loss, which led to a analyst's downgrade.
• Procter & Gamble Co. (NYSE: PG) raised its forecasts after finalizing the sale of Folgers brand.
• Sirius XM Radio Inc. (NASDAQ: SIRI) halved its Q3 net loss and revenues and subscriber numbers rose.
• TJX Companies Inc. (NYSE: TJX) reported a Q3 earnings decline and offered a cautious outlook.
• Tyco International Ltd. (NYSE: TYC) posted better-than-expected profits but warned of softness ahead.
• Walmart Stores Inc. (NYSE: WMT) beat analyst estimates for Q3 and warned of a profit squeeze.

Continue reading Earnings highlights: Walmart, Google, Intel, P&G, Sirius, Blackstone and others

Earnings highlights: Walmart, Google, Intel, P&G, Sirius, Blackstone and others originally appeared on BloggingStocks on Sat, 15 Nov 2008 11:40:00 EST. Please see our terms for use of feeds.