The Wall Street Journal reported that, in an attempt to move past its takeover battle with Microsoft Corporation (NASDAQ: MSFT), Yahoo! Inc (NASDAQ: YHOO) is planning a reorganization. People familiar with the matter said executives are discussing a plan to centralize numerous product groups into a global-product organization. Details may be announced next week.
The Wall Street Journal also reported that an internal feud at Live Nation Inc (NYSE: LYV) over strategy may soon be resolved, as the concert promoter is reportedly negotiating the exit of chairman Michael Cohl.
OTHER PAPERS:
A recommendation by an Australian commission to open Rio Tinto Group's (NYSE: RTP) Pilbara railway to third parties could cost $30B if the idea is implemented, Rio contended and the Australian reported. The National Competition Commission, which advises Australian governments on infrastructure issues, has suggested that Fortescue Metals Group be given access to certain rail lines operated by Rio Tinto.
WEB SITES:
A joint investigation by CBC News and the Canadian Press found one-third of people shot by Taser International Inc's (NASDAQ: TASR) Tasers reportedly required some medical attention, Engadget reported.
TechCrunch confirmed that Joshua Schachter, the founder of delicious, will resign from Yahoo!. Sources believe the near-stalled development of the new version of delicious may have played a part in his resignation.
Marriott International Inc. (NYSE: MAR) fourth quarter earnings fell 20% to $176 million or 46 cents per share, as it took a hit from the closure of its business making cleaner burning coal for tax credits. The company posted revenue of $4.1 billion. Excluding the loss from the discontinued operations, Marriott says it earned $236 million, or 62 cents per share, beating the 62 cents expected by analysts.
UBS AG (NYSE: UBS) on Thursday posted a fourth-quarter net loss -- the first since 1997 -- of $11.28 billion, and a loss for the entire year, due to investments in U.S. subprime mortgages. It said it expected more problems in 2008. The results were inline with previous guidance. UBS shares are down some 5.75% in premarket trading.
Boeing Co. (NYSE: BA) said Thursday it created a joint venture to be formed by June with Tata Industries Ltd. to make more than $500 million in aerospace components.
Taser International Inc. (NASDAQ: TASR) reported that fourth-quarter earnings doubled, reaching $4.7 million, or 7 cents a share, on 61% higher revenue. Sales rose to $31 million. Analysts polled by Thomson Financial expected a profit of 7 cents per share on $29 million of sales.
MOST NOTEWORTHY: Glu Mobile, USA Technologies and Fulton Financial were today's noteworthy initiations:
Merriman initiated Glu Mobile (NASDAQ: GLUU) with a Buy rating and thinks the valuation already reflects the potential effects of a slowdown in consumer spending. The firm believes shares have the potential to trade to a range of $8-$10.
Merriman also started USA Technologies (NASDAQ: USAT) with a Buy rating. The firm believes the company is uniquely positioned in the wireless machine-to-machine market given its initial traction with Coca-Cola Enterprises (NYSE: CCE) and Mastercard (NYSE: MA) in deploying a cashless payment solution for the beverage vending industry.
B. Riley believes Fulton Financial (NASDAQ: FULT) can return to its legacy of achieving consistent earnings growth with the resolution of the Resource Mortgage tribulations. The firm initiated shares with a Buy rating and $14 target.
OTHER INITIATIONS:
JP Morgan assumed Taser (NASDAQ: TASR) with an Overweight rating.
Calyon initiated Rowan Cos (NYSE: RDC) with an Add rating and $42 target.
Credit Suisse started VisionChina Media (NASDAQ: VISN) with an Outperform rating and $14 target.
News out of TASER International Inc. (NASDAQ: TASR) has been ... how shall I put it ... somewhat odd as of late.
First, a few days ago, we heard of Taser Parties. Indeed, like Tupperware Parties, Taser Parties have women gather in someone's home. They get a demo of the recent TASER C2 and even try it out for themselves (on targets, not each other). While this isn't exactly a TASER official marketing strategy, rather a saleswoman's vision, it may not be a stretch to see the stun gun maker endorsing this as one sales tactic out of many.
In fact, TASER has already adopted the concept for its booth at this year's Consumer Electronics Show, where Taser Parties were held. TASER didn't just throw "parties" at CES, but brought Playboy Playmates to ... ahem ... sign autographs.
But wait, that's not all in the odd tidbits realm. At CES, TASER also showcased designer colors for the TASER C2 in addition to the classic black model: fire-engine red, blue, silver or pink. Pink, by the way, in some sort of a "girl power" thing is actually the company's biggest seller. The company also unveiled a new Taser holster in leopard print with a built-in 1 GB MP3 player (preloaded with songs from AC/DC, Shock G, Lightning Bolt and S.T.U.N. ... not really). The reason for the MP3 player, you may ask? "You're more likely to carry it, and it will be there when you need it," VP of communications Steve Tuttle said. How's that for marketing?
MOST NOTEWORTHY: Taser Int'l (TASR), Motorola (MOT), Advantest (ATE), STMicroelectronics (STM) and Joy Global (JOYG) were today's noteworthy upgrades:
Merriman upgraded shares of Taser Int'l (NASDAQ: TASR) to Buy from Hold on valuation following the 25% decline in price since late July, accelerating law enforcement demand and upside potential from the recently launched personal TASER C2.
Lehman upgraded shares of Motorola (NYSE: MOT) to Overweight from Equal Weight as they believe increased production and opex progress in Q3 could signal a turnaround at the company's phone unit.
Jefferies upgraded Advantest (NYSE: ATE) to Hold from Underperform on valuation.
STMicroelectronics (NYSE: STM) was upgraded to Market Perform from Underperform on valuation at Bernstein.
Stifel upgraded shares of Joy Global (NASDAQ: JOYG) to Buy from Hold following the in line Q3 report as they believe bad news is reflected in valuation...
OTHER UPGRADES:
Idacorp (NYSE: IDA) was upgraded to Market Perform from Under Perform at Wachovia.
UBS upgraded TDK Corp (NYSE: TDK) to Neutral from Sell.
Wedbush raised Big Lots (NYSE: BIG) to Buy from Hold, with a $35 target, and DSW Inc. (NYSE: DSW) to Hold from Sell, with a $29 target.
LabCorp (NYSE: LH) was upgraded to Outperform from Neutral at Cowen.
Yahoo Inc's (NASDAQ: YHOO) top sales executive, Gregory Coleman, is leaving the company in the latest reorganization move by President Susan Decker. The reorganization is aimed to merge sales into a broader division working with customers and partners. paidContent.org got their hands on the internal memo President Decker sent out. Some interesting points there.
Apple Inc. (NASDAQ: AAPL) and Volkswagen AG are discussing the possibility of building an "iCar" that would feature products by Apple.
General Motors (NYSE: GM) of Canada will cut about 1,000 jobs, equivalent to one shift of production at a truck plant in Oshawa, Ontario, in January as pick-up sales continue to slump. The plant produces the Chevrolet Silverado and GMC Sierra pick-up trucks. The plant employs more than 3,000 workers.
Sears Holdings (NASDAQ: SHLD) posted a second-quarter profit that fell 40% from a year ago to $176 million, or $1.17 a share, but beat analyst forecast of $1.13 a share. The company blamed the profit fall on an increased level of discounting in the period. Revenue for the period declined to $12.2 billion. Same-store sales, declined 4.1% in the quarter -- fell 4.3% at Sears and dropped 3.8% at Kmart stores. SHLD shares are down 4.5% in premarket trading (8:12 a.m.).
Taser (NASDAQ: TASR) shares are up 2.94% in premarket trading (8:18 a.m.) after Merriman Curhan Ford upgraded the stock from Neutral to Buy.
Microsoft Corp. (NASDAQ: MSFT) yesterday said it will buy a small Chicago-based IM technology company.
TASER International (NASDAQ: TASR) is about to put its XREP Extended Range Electro-Muscular Projectile shotgun shells into field testing, according to Engadget. The standard 12-gauge shells have three fins on its end, similar to an arrow, and have four barbs at its tip. Upon firing, the shell, moving at approximately 300 feet per second, hits the target with same amount of juice the handheld X26 provides, but now at distance of up to 100 feet away.
Victims who so foolishly attempt to grab the projectile to pull it off will experience a wonderful sensation of what Taser called "overpowering Neuro Muscular Incapacitation" for 20 seconds. Ouch.
Despite being down 52 cents today, shares of TASER have doubled since April. Expectations for TASER to expand its product line in France have given shares a significant catalyst. Merriman Curhan Ford & Co believes investors should be more careful about choosing their entry point going forward, but still sees upside opportunities in the stock.
Field testing is expected to last 6-12 months before TASER comes out with a full production release. I, along with others who enjoy a good laugh, can not wait to see new footage of analysts who want to get shot by the new Taser product so they can fully understand the power of the non-lethal weapon.
In what may be the coolest bit of news to hit the wires all week, Taser International Inc (NASDAQ: TASR) and iRobot Corporation (NASDAQ: IRBT) have announced their intentions to form an alliance to create an army of T-1000 robots. Okay, not exactly. The actual announcement read:
"Under the terms of this alliance the two companies will work collaboratively to develop a new robotic capability utilizing TASER technologies. This combination of capabilities will allow law enforcement, federal, and military users to employ TASER technology from an iRobot platform at a safe distance to engage, incapacitate, and control dangerous suspects without exposing those personnel, the suspect, or bystanders to unnecessary risks, the companies said.
As the first step in this alliance, the two companies have integrated TASER X26 electronic control device technology into the iRobot PackBot Explorer."
This is still exciting news for both Taser and iRobot. It signals that both companies are aware of the limited markets for their niche products -- the Taser stun gun and the Roomba -- and are actively seeking to broaden their scope. How successful will this alliance be? Only after we see a prototype of the iRobot PackBot Explorer with Taser x26 electronic control device technology will we know for sure. But hopefully not as successful as the T-1000.
"Taser International (NASDAQ: TASR), a maker of stun-guns used for police work, corrections, and personal defense" is a new trade from technician Melvin Pasternak in The Swing Trader.
On a split-adjusted basis, the stock peaked in the mid-$30s in 2004. The advisor notes, "Dogged by bad publicity about its guns, it declined to just above $5 per share in October 2005." The shares then rallied to the $11 range in the spring of 2006, he points out, and have been trading in a broad range between $6 and $10 since that time.
However, in late May, he notes, TASR "blew through important resistance just above $10 on volume about double normal weekly levels." In addition, he says, "This past week, the stock added to its gains and probed key resistance just above $11 before retreating." Volume, he adds, was again very strong.
For the more technically-inclined, the advisor explains that the stock has broken a relative strength downtrend line, and that line is "convincingly above its own moving average for the first time in many months." In addition, he notes that the stock's MACD is on a buy signal. With the shares breaking out of a multi-month base, he believes they are posted to move higher.
To determine the possible upside, the tecnician looks at the stock's base, which he notes it $3 in height. He says, "According to the measuring principle, the stock should now reach about $13 per share."
For more stock picks from the leading financial newsletter advisors, visit Steven Halpern's free daily website, TheStockAdvisors.com.
MOST NOTEWORTHY: Comcast Corp (CMCSA), Monster Worldwide (MNST), Microsoft (MSFT), XM Satellite Radio Holdings Inc (XMSR) and Sirius Satellite Radio (SIRI) were today's most noteworthy upgrades:
Comcast Corp (NASDAQ: CMCSA) was upgraded at AG Edwards to Buy from Hold with a $33 objective, citing valuation.
Gabelli raised Monster Worldwide's (NASDAQ: MNST) rating to Buy from Hold and sees an attractive long-term opportunity as near-term margin pressure issues are providing an opportunity.
CIBC upgraded shares of Microsoft (NASDAQ: MSFT) to Sector Performer from Underperformer to reflect solid Q3 results and an improved 2008 outlook. Citigroup raised Microsoft's rating to Buy from Hold after the quarterly report.
UBS upgraded both XM Satellite Radio (NASDAQ: XMSR) to Buy from Neutral citing improving fundamentals and Sirius Satellite Radio (NASDAQ: SIRI) to Buy from Neutral on better operational execution...
RBC Capital raised Baidu.com, Inc (NASDAQ: BIDU) to Outperform from Sector Perform citing guidance that indicated a reacceleration of underlying fundamentals.
JP Morgan added Taser International, Inc (NASDAQ: TASR) to its SMID Money List and will maintain its Outperform rating.
TASER International Inc. (NASDAQ: TASR) is no stranger to controversies. These days, police say it is concerned with Taser's latest consumer weapon, a $299 metallic pink, palm-sized C2 stun gun (no worries, it does come in three other cool colors including Black Pearl as well).
To recap, last time I wrote about Taser was in late February, when Taser reported fourth-quarter earnings that showed strong sales that boosted profits. Shares went up 5.5% consequently. Then Taser announced preliminary first quarter results that fell below analysts' expectations due to delayed orders. While investors punished the stock, taking it down 5%, some analysts remained positive on the company's base sales.
As for the C2, police say the consumer weapon is bound to fall into criminal hands and worry that officers will be injured by users who lack proper training. The Fraternal Order of Police, the largest law-enforcement labor union, has barred Taser from exhibiting the new C2 weapon or any other at its convention in August.
Seven states have already outlawed consumer use of stunning devices and three other states, including Texas are considering bills for bans or regulation of ownership.
Taser isn't worried. First, its main market is law-enforcement agencies rather than consumers. Second, there's always concern around a new product, the company says.
After a nice 5% run the past ten days, shares closed down 2.56% at $8.37 on Thursday. The stock remains of speculative nature. While many wrongful deaths lawsuits have been dismissed, lowering its risk, Taser does have rocky fundamentals. I still definitely like the long-term prospects, but it's only for those who can stomach it.
As a last comment, and in light of the Virginia Tech shooting, something eludes me here (probably because I'm Canadian). How is it that stunning devices seem to be more regulated than guns in the U.S.? Gun control - no, but stunning devices ban - yes?
Taser International Inc. (NASDAQ:TASR) shares are up over 5.5% today on heavy volume after the company reported strong sales in the fourth-quarter that boosted profits for the stun gun maker.
Despite many controversies regarding its products, Taser has managed to grow profits for four straight quarters. For the fourth-quarter, net income grew to $2.3 million, or 4 cents per share, from $179,126, or breakeven per share, in the year-ago period. Revenue rose 53% to $19.3 million from $12.6 million. Analysts surveyed by Thomson Financial expected 4 cents earnings per share on revenue of $19.2 million.
While the market is happy with the results, Taser is far away from the highs it reached in 2004 when safety concerns over the use of the TASERs and a SEC investigation hit the company The government ordered a two-year study by the Department of Justice (yet to be completed) and Amnesty International called the stun guns inhumane. The SEC also investigated the company's accounting practices back then. The investigation ended in 2005.
The company mentions in the report that courts dismissed seven more suits related to wrongful deaths from TASER use, but just last month yet another Taser controversy about police use of the guns made the headlines. Despite all that, it seems customers keep coming back for more, and for now, that's what matters to investors.
If the company continues its growth without new controversies to shake it or competition to speak of (competition remained weak so far), the stock should continue to do well as law-enforcement agencies domestically and around the world continue to adopt this nonlethal (or as some would prefer, 'less-lethal') gun. And lest we forget the opportunities in the personal market as well.
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MAJOR PAPERS:
Marriott International Inc. (NYSE: .gif){kind=logo}
TASER International 
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