Analyst Upgrades

• Piper Jaffray upgraded Duoyuan Global Water (DGW) to neutral from underweight, citing the potential for positive fundamental news flow through the end of the year, and upped its price target to $16 from $9.
• Jefferies upgraded Alcatel-Lucent (ALU) to buy from underperform, expecting a benefit from a significant ramp in EVDO software sales as mobile data growth accelerates.
• Myriad Genetics (MYGN) was upgraded at RBC Capital to outperform from sector perform with a $23 price target based on valuation and potential to be acquired.
• Goldman upgraded Mohawk (MHK) to neutral from sell with a $53 price target.
• Smithfield Foods (SFD) was upgraded to outperform from market perform at BMO capital with a $21 target.
• Priceline.com (PCLN) was upgraded to outperform from market perform at Morgan Keegan.

Continue reading Analyst Calls: ALU, BIG, COST, DGW, DOW, FO, GE, HON, MGM, MYGN, MON ...

Analyst Calls: ALU, BIG, COST, DGW, DOW, FO, GE, HON, MGM, MYGN, MON ... originally appeared on BloggingStocks on Wed, 13 Oct 2010 12:00:00 EST. Please see our terms for use of feeds.

"The 'offshoring' of IT development, customer service and back office operations has always been controversial in the U.S. (because of the jobs lost)," observes Paul Goodwin.

In The Cabot China & Emerging Markets Report, he explains, "However, these outsourcing services have also been cost-effective. And outsourcing pioneer Wipro (NYSE: WIT) is very good at it.

"Wipro, the Indian megacap company, has been holding earnings steady as a rock despite the global recession that has ripped the heart out of so many companies.

Continue reading Wipro (WIT) and offshoring: Controvery and opportunity

Wipro (WIT) and offshoring: Controvery and opportunity originally appeared on BloggingStocks on Tue, 13 Oct 2009 13:30:00 EST. Please see our terms for use of feeds.

"Inflationary fears and the desire to generate higher returns in non-dollar assets should boost BRIC stocks (Brazil, Russia, India and China)," says Chuck Carlson in his The DRIP Investor.

"Despite the run-up this year, BRIC stock markets are still reasonably valued. Russia, India, and Brazil all trade at price/earnings ratios similar to the U.S.

"And while China's stock market does trade at a premium to the U.S., China's economic growth will swamp that of the U.S. this year and for the foreseeable future.

Continue reading 'Compelling case' for China and India

'Compelling case' for China and India originally appeared on BloggingStocks on Thu, 16 Jul 2009 13:00:00 EST. Please see our terms for use of feeds.

Continue reading Stocks in the news: C, MS, AA, PFE, WIT, F, EYE, SAY, PALM, HOG

Stocks in the news: C, MS, AA, PFE, WIT, F, EYE, SAY, PALM, HOG originally appeared on BloggingStocks on Mon, 12 Jan 2009 08:18:00 EST. Please see our terms for use of feeds.

Satyam (NYSE: SAY) is recently trading at $1.44 in pre-open trading, below its close of $9.35. SAY Chairman Ramalinga Raju resigned after saying he falsified earnings and assets at India's fourth-largest software services provider. SAY January option implied volatility closed at 121, February at 114; above its 26-week average of 87, according to Track Data, suggesting larger price fluctuations.

Infosys (NASDAQ: INFY), a technology services firm based in India, closed at $26.60. INFY is scheduled to report Q3 EPS on January 12. INFY January 27.5 straddle is priced at $2.80, February 27.5 straddle is priced at $4.90. February option implied volatility of 63 is near its 26-week average according to Track Data, suggesting larger price movement.

Wipro Ltd (NYSE: WIT), a technology services company based in India, closed at $8.41. WIT is expected to report Q3 EPS in mid January. WIT February call option implied volatility is at 78, puts are at 86; near its 26-week average of 80, according to Track Data, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: Satyam volatility elevated; shares collapse on accounting fraud originally appeared on BloggingStocks on Wed, 07 Jan 2009 08:52:00 EST. Please see our terms for use of feeds.

ICICI Bank (NYSE: IBN), India's second largest bank IBN, closed at $13.21 Wednesday. IBN December option implied volatility of 143 is above its 26-week average of 82 according to Track Data, suggesting larger price fluctuations.

Infosys (NASDAQ: INFY), a technology services firm based in India, closed at $24.31 Wednesday. INFY December option implied volatility of 91 is above its 26-week average of 59 according to Track Data, suggesting larger price movement.

Satyam Computer Services (NYSE: SAY), a technology solution provider based in India, closed at $12.62 Wednesday. SAY over all option implied volatility of 85 is above its 26-week average of 76 according to Track Data, suggesting larger price fluctuations.

Wipro Ltd (NYSE: WIT), a technology services company based in India, closed at $7.47 Wednesday. WIT over all option implied volatility of 83 is above its 26-week average of 71 according to Track Data, suggesting larger price movement.

The Sensex rose 0.7 percent to 9,092.72 at the close in Mumbai India, the highest in almost two weeks.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: Volatility elevated for India-based companies; IBN, SAY, INFY, WIT originally appeared on BloggingStocks on Fri, 28 Nov 2008 08:48:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Jefferies upgraded shares of Safeway (NYSE: SWY) to Hold from Underperform on valuation as they believe the company's pricing pressure and sluggish sales trends are now priced in. The firm raised its target to $23.50 from $21.
  
• Merrill upgraded Pfizer (NYSE: PFE) to Buy from Underperform citing attractive dividend yield and stabilizing businesses.
  
• Banc of America upgraded shares of Apollo Group (NASDAQ: APOL) to Neutral from Sell and raised APOL's target to $60 from $48 on valuation as they see a balanced risk/reward at current levels.
• Nucor (NYSE: NUE) was raised to Overweight from Equal Weight at Morgan Stanley.
  
• Citrix Systems (NASDAQ: CTXS) and Symantec (NASDAQ: SYMC) were upgraded to Overweight from Neutral at JP Morgan.
  
• Keefe Bruyette upgraded Jefferies Group (NYSE: JEF) and Bank of America (NYSE: BAC) to Market Perform from Underperform.

Analyst downgrades:

Continue reading Analyst calls: GM, F, BAC, PFE, APOL, SYMC . . .

Analyst calls: GM, F, BAC, PFE, APOL, SYMC . . . originally appeared on BloggingStocks on Wed, 08 Oct 2008 11:50:00 EST. Please see our terms for use of feeds.

Infosys (NASDAQ: INFY), a technology services firm based in India, closed at $40.80 Tuesday. INFY chief executive said: "We are not seeing any trends towards driving prices downwards. There is (however) uncertainty about when the macro-environment will turn around" Down Jones. INFY overall option implied volatility of 43 is near its 26-week average according to Track Data, suggesting non-directional risk.

Satyam Computer Services (NYSE: SAY), a technology solution provider based in India, closed at $21.91 Tuesday. SAY overall option implied volatility of 53 is near its 26-week average, suggesting non-directional price fluctuations.

Wipro Ltd (NYSE: WIT), a technology services company based in India, closed at $11.60 Tuesday. Goldman Sachs raised its rating to Neutral from Buy on August 19. WIT overall option implied volatility of 50 is near its 26-week average of 47, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: India technology services firms' volatility flat (INFY, SAY, WIT) originally appeared on BloggingStocks on Wed, 20 Aug 2008 09:00:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal's "Heard on the Street" reported that analysts believe investors should take a look at some Indian pharmaceutical stocks, including two of the subcontinent's biggest generics makers, Dr. Reddy's Laboratories Limited (NYSE: RDY) and Cipla Ltd.
• According to the Wall Street Journal's "Heard in Asia," shares of India's three largest tech and outsourcing companies by sales, Infosys Technologies Limited (NASDAQ: INFY), Tata Consultancy Services and Wipro Limited (NYSE: WIT), may be worth a look by investors despite some near-term volatility.

• David Letterman is seeking his own deal with the Writers Guild of America which would allow his show to return to air on CBS Corporation's (NYSE: CBS) CBS station in early January even if the strike is continuing, the New York Times reported.
• According to the UK Times, Ford Motor Company (NYSE: F) is expected to name Tata as the preferred bidder for its Jaguar and Land Rover units.

Newspaper wrap-up: Time to take a look at Indian pharmaceuticals? originally appeared on BloggingStocks on Mon, 17 Dec 2007 08:00:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Oppenheimer started shares of Shutterfly Inc (NASDAQ: SFLY) with a Buy rating and $42 target. The firm believes secular growth in digital photography and increasing adoption of user generated print publishing will drive EBITDA growth of 30%-40% over the next 2-3 years.
  
• Oppenheimer also initiated Drugstore.com Inc (NASDAQ: DSCM) with a Buy rating and $5 target, as they expect growth in the company's higher margin beauty segment could drive EBITDA above consensus estimates.
  
• Baird is positive on S.Y. Bancorp Inc's (NASDAQ: SYBT) valuation, capital-rich balance sheet, and top-tier profitability and resumed coverage with an Outperform rating.
  
• The firm also started shares of Stericycle Inc (NASDAQ: SRCL) with a Neutral rating, noting it would be more aggressive on shares in the mid-$40s or if earnings catch up with the passing of time.

• UBS initiated Praxair Inc (NYSE: PX) with a Buy rating and $94 target and added shares to its Strategic Stock Selection List.
  
• Lehman initiated Infosys Technologies Ltd (NASDAQ: INFY) with an Equal Weight rating and Wipro Limited (NYSE: WIT) with an Underweight rating.
  
• William Blair reinstated coverage of the commercial real estate services sector, starting FirstService Corporation (NASDAQ: FSRV) with an Outperform rating, Jones Lang LaSalle Incorporated (NYSE: JLL) with a Market Perform rating and CB Richard Ellis Group Inc (NYSE: CBG) with a Market Perform rating.

Analyst initiations: SFLY, DSCM, SYBT and SRCL originally appeared on BloggingStocks on Wed, 10 Oct 2007 11:12:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Build-A-Bear Workshop Inc's (NYSE: BBW) stock has been in a nose dive for most of the year, failing to reach sales targets. If there's no bid soon, reported the Wall Street Journal, this holiday season will be a miserable one for same store sales. Mattel Inc (NYSE: MAT) and Children's Place Retail Stores Inc (NASDAQ: PLCE) are considered possible buyers, as well as private equity firms.
• Cisco Systems Inc (NASDAQ: CSCO) and Haier Group, China's largest manufacturer of appliances, have agreed to work together on home networking in China and international markets, according to the Wall Street Journal.
• "Disney (NYSE: DIS) inspired" homes will be offered by KB Home (NYSE: KBH) beginning in 2008, following their successful collaboration with Martha Stewart Living Omnimedia (NYSE: MSO) homes two years ago, reported the Wall Street Journal.

• Credit Suisse Group (NYSE: CS) is laying off about 150 workers from its mortgage-backed securities unit, a source told the New York Times.
• The EE Times reported that Chinese silicon foundry provider Semiconductor Manufacturing International Corporation (NYSE: SMI) has delayed the opening of its 300-mm wafer fab in Wuhan, China, according to an analyst.
• India's Wipro Limited (NYSE: WIT) has received a five year, $130M contract from British utility Thames Water to provide integrated IT services, reported the Economic Times.

Newspaper wrap-up: Credit Suisse laying off 150 originally appeared on BloggingStocks on Wed, 26 Sep 2007 08:50:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Amid mounting criticism for its role in the subprime crisis, McGraw Hill Companies Inc (NYSE: MHP) replaced Kathleen Corbet, the president of Standard & Poors, with Deven Sharma, a McGraw Hill senior VP who has been with S&P since the end of last year, reported the Wall Street Journal.
• Barron's Online's "Inside Scoop" column reported that Aeropostale Inc (NYSE: ARO) CFO Michael Cunningham sold $2.1M in stock Monday at an average price of $22.43 per share, according to SEC data.

• Indian IT outsourcing companies Infosys Technologies (NASDAQ: INFY) and Wipro Limited (NYSE: WIT) have reportedly both shown interest in buying out the US-based high-end analytics company MarketRx, which is believed to be worth between $150M and $160M, reported the Economic Times.
• The New York Times reported that General Electric Company's (NYSE: GE) NBC Universal has decided not to renew its contract to sell digital downloads of television shows on Apple Inc's (NASDAQ: AAPL) iTunes online store.
• From BusinessWeek's "Inside Wall Street" column:
  
• Coca-Cola Company (NYSE: KO) is making a comeback, thanks to its huge global distribution edge.
  
• Southern Copper Corporation (NYSE: PCU) is a good copper play, as it is undervalued and ignored, especially considering its 6.21% dividend yield.
  
• Ariad Pharmaceuticals (NASDAQ: ARIA) may be one of the more underappreciated and undervalued biotech stocks around.

Newspaper wrap-up: NBC does not renew iTunes contract with Apple originally appeared on BloggingStocks on Fri, 31 Aug 2007 09:00:00 EST. Please see our terms for use of feeds.

Wipro (WIT) wields its cash on M&A originally appeared on BloggingStocks on Tue, 07 Aug 2007 19:16:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Nollenberger believes Big 5 Sporting Goods' (NASDAQ: BGFV) shares are fairly valued and would likely get more constructive near the $20 level and initiated shares with a Neutral rating.

• ThinkEquity said Nutrition 21 (NASDAQ: NXXI) has a number of clinically proven nutritional supplements that target the rapidly growing obesity and diabetes markets, and initiated shares with a Buy rating.

• SMH Capital initiated shares of Sonic Solutions (NASDQ: SNIC) with a Buy rating, on the belief that shares have been oversold.

• ThinkEquity is positive on AeroGrow's (NASDAQ: AERO) proprietary aeroponic technology and recurring revenue model and initiated shares with a Buy rating.

• Leerink Swann started shares of Sequenom (NASDAQ: SQNM) with an Outperform rating as MEDACorp researchers are positive regarding the company's MassARRAY system for genetic analysis, which is well-positioned for growth in follow-on SNP fine-mapping studies; Leerink anticipates in 2008, the company will launch iPLEX 3, which is currently in development, and reduce the cost of acquiring fine-mapping SNP data...

• Dover (NYSE: DOV) was initiated at Morgan Stanley with an Overweight rating.

• Merrill started Akamai (NASDAQ: AKAM) with a Neutral rating.

• Pacific Crest started Wipro Ltd (NYSE: WIT) with a Sector perform.

• Susquehanna initiated Herman Miller (NASDAQ: MLHR) with a Positive rating.

• RBC Capital initiated Warren Resources (NASDAQ: WRES) with an Outperform rating.

Analyst initiations 7-31-07: AKAM, BGFV, DOV and SNIC originally appeared on BloggingStocks on Tue, 31 Jul 2007 11:04:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK.A) acquired a stake in Kraft Foods Inc (NYSE: KFT) that was below 5%, the Wall Street Journal (subscription required) reported.
• R.H. Donnelley Corporation (NYSE: RHD) has paid about $350M for Business.com, the marketing directory Web company, beating out Dow Jones & Co. (NYSE: DJ) and the New York Times Company (NYSE: NYT) in the process, according to the Wall Street Journal.
• Callaway Golf Company (NYSE: ELY), which closed Wednesday at about $17.42, could swing lower as the peak summer season wanes amid continued concern about overall consumer discretionary spending, according to Barron's Online's (subscription required) "Weekday Trader" section.

• The U.K. Times reported that the global debt market crisis may delay or cancel the sale of Cadbury Schweppes plc's (NYSE: CSG) U.S. drinks arm.
• Coca-Cola (NYSE: KO), Wipro Limited (NYSE: WIT) and Danone are in talks with Ramesh Chauhan to buy Bisleri, the bottled water brand that has become a generic name for the product category, reported the Economic Times.

Newspaper wrap-up 7-26-07: Berkshire invests in Kraft originally appeared on BloggingStocks on Thu, 26 Jul 2007 09:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Financial Times (subscription required) reported that General Motors Corporation's (NYSE: GM) CEO Rick Wagoner expressed caution about the possibility of General Motors adding new brands or US manufacturing plants to its portfolio, remarks that are likely to quash expectations of an imminent GM bid for cross-town rival DaimlerChrysler AG (NYSE: DCX).
• According to the Financial Times, Nikko Cordial's largest investor has rejected Citigroup Inc's (NYSE: C) $11B takeover bid.
• Also in the Financial Times, 3M Corporation (NYSE: MMM) has filed infringement lawsuits against Sony Corporation (NYSE: SNE) and Lenovo (LNVGY), and others, including Hitachi Ltd ADR (NYSE: HIT), CDW Corporation (NASDAQ: CDWC) and Matsushita Electric Industrial Co Ltd (NYSE: MC).

• India's Economic Times reported that Wipro Ltd ADS (NYSE: WIT) is said to be close to acquiring an unnamed U.S. aerospace services company for about $90M.
• According to the U.K. Times, Procter & Gamble Company (NYSE: PG) has said it is willing to team up with private equity firms to pursue deals.

Newspaper wrap-up 3-8-07: Nikko investor rejects Citiroup offer originally appeared on BloggingStocks on Thu, 08 Mar 2007 09:30:00 EST. Please see our terms for use of feeds.

Cramer has IT outsourcing picks originally appeared on BloggingStocks on Tue, 16 Jan 2007 18:51:00 EST. Please see our terms for use of feeds.