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Schering posts

Newspaper wrap-up: J.C. Penney expected to cut jobs, merge operations

Posted Jan 31st 2008 8:58AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Citigroup Inc. (C), Penney (J.C.) (JCP), , Merck and Co (MRK)

MAJOR PAPERS:

With a possible coming recession, J.C. Penney Company Inc (NYSE: JCP) CEO Myron "Mike" Ullman is expected to today announce plans to merge the buying and marketing operations for store and online sales and cut up to 200 jobs, the Wall Street Journal reported.
The Wall Street Journal also reported that the warning from UBS AG (NYSE: UBS) that its write downs for 2007 would be $4B higher than forecast is an indicator that other Wall Street banks are still vulnerable to the subprime crisis; Citigroup Incorporated (NYSE: C) and Merrill Lynch & Co Inc (NYSE: MER) may be the most vulnerable to the next wave of write downs.

WEB SITES:

Merck & Co Inc (NYSE: MRK) and Schering-Plough Corporation (NYSE: SGP) perform quite differently, despite jointly marketing Vytorin, Barron's reported. while Merck offers a golden opportunity for bargain hunters, Schering's prospects remain less certain with the company relying on Vytorin for more than one-third of its pretax profits, according to estimates from Lehman Brothers.

Analyst upgrades 5-04-07: CROX, DRI, EL, JDSA and RNWK

Posted May 4th 2007 10:54AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Good news, Estee Lauder (EL), Darden Restaurants (DRI), Jones Soda (JSDA), Crocs Inc (CROX)

MOST NOTEWORTHY: Schering-Plough Corp (SGP), Jones Soda Co (JSDA), RealNetworks, Inc (RNWK), Westwood One, Inc (WON), and Darden Restaurants, Inc (DRI) were today's noteworthy upgrades:

Prudential raised shares of Schering-Plough Corp (NYSE: SGP) to Overweight from Neutral to reflect management's activity on the deal front and recent data on the drug TRA.

ThinkEquity upgraded shares of Jones Soda Co (NASDAQ: JSDA) to Accumulate from Source of Funds after disappointing Q1 results. The firm believes results will get better in FY07 as the canned soda roll-out continues and high fructose corn syrup inventory is depleted.

RealNetworks Inc (NASDAQ: RNWK) was upgraded to Market Perform from Underperform at JP Morgan, citing valuation.

Bear Stearns upgraded shares of Westwood One Inc (NYSE: WON) following reports the company hired UBS AG (UBS) to help find potential buyers.

KeyBanc Capital markets raised Darden Restaurants (NYSE: DRI) to Buy from Hold based on accelerating same-store sales at Olive Garden.

OTHER UPGRADES:

Bear Stearns raised Plantronics, Inc (NYSE: PLT) to Peer Perform from Underperform.

SunTrust Robinson Humphrey upgraded Career Education Corp (NASDAQ: CECO) to Neutral from Reduce.

Credit Suisse upped Estee Lauder Cos (NYSE: EL) to Outperform from Neutral.

Needham upgraded shares of Andrew Corp (NASDAQ: ANDW) to Buy from Hold.

Wedbush upgraded Crocs, Inc (NASDAQ: CROX) to Strong Buy from Buy with a $95 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 4-20-07: CBRL, COF, LUV and SGP downgraded today

Posted Apr 20th 2007 11:39AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Bad News, Southwest Airlines (LUV)

MOST NOTEWORTHY: Schering-Plough Corp (SGP), Southwest Airlines Co (LUV), Capital One Financial Corp (COF), Robert Half International Inc (RHI) and Heartland Express, Inc (HTLD) were today's more noteworthy downgrades:

Schering-Plough Corp (NYSE: SGP) was downgraded to Market Perform from Strong Buy at Raymond James, to Neutral from Overweight at HSBC and to Hold from Buy at AG Edwards on valuation.

HSBC also cut Southwest Airlines Co (NYSE: LUV) to Neutral from Overweight.

Capital One Financial (NYSE: COF) was cut to Market Perform from Outperform at Freidman Billings and to Neutral from Buy at Merrill Lynch following its first quarter miss.

Stifel downgraded Robert Half International (NYSE: RHI) to Sell from Hold after its disappointing first quarter report.

Stifel also cut Heartland Express Inc (NASDAQ: HTLD) to Hold from Buy on valuation.

OTHER DOWNGRADES:

Jefferies downgraded shares of RightNow Technologies (NASDAQ: RNOW) to Hold from Buy with a $17 target. William Blair downgraded RightNow to Market Perform from Outperform based on the company's sales organization changes and weak bookings.

Shares of CBRL Group, Inc (NASDAQ: CBRL) were downgraded at JP Morgan to Neutral from Overweight based on difficult near-term fundamentals and limited visibility.