Analyst Upgrades

• Aetna (AET) to buy from neutral at Goldman.
• Kellogg (K) to buy from neutral at UBS.
• PetSmart (PETM) to outperform from market perform at JMP Securities.
• NetApp (NTAP) and Scripps Networks (SNI) to buy from hold at Wunderlich.
• Thoratec (THOR) to buy from hold at Auriga.
• ArcelorMittal (MT) to overweight from neutral at HSBC.
• Bristol-Myers (BMY) to outperform from neutral at Cowen.
• Eaton Vance (EV) to neutral from sell at Ticonderoga.
• Adtran (ADTN) to buy from underperform at BofA/Merrill.

Continue reading Analyst Calls: AET, BMY, DVN, GLW, K, MRK, MT, PETM, SPLS, WY ...

Analyst Calls: AET, BMY, DVN, GLW, K, MRK, MT, PETM, SPLS, WY ... originally appeared on BloggingStocks on Mon, 07 Feb 2011 11:40:00 EST. Please see our terms for use of feeds.

Continue reading Weyerhaeuser Strangled Ahead of Earnings

Weyerhaeuser Strangled Ahead of Earnings originally appeared on BloggingStocks on Thu, 22 Jul 2010 12:40:00 EST. Please see our terms for use of feeds.

Weyerhaeuser (NYSE: WY - option chain) stock is falling today after the company cut its quarterly dividend to 5 cents from 25 cents. In addition, Weyerhaeuser will defer timber harvest and close some facilities in order to contain costs. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on WY.

This morning, WY opened at $28.64. So far today the stock has hit a low of $28.51 and a high of $29.42. As of 10:40, WY is trading at $28.96, down $1.03 (-3.4%). The chart for WY looks neutral and S&P gives WY a neutral 3 STARS (out of 5) hold ranking.

Continue reading Weyerhaeuser (WY) cuts dividend by 80%

Weyerhaeuser (WY) cuts dividend by 80% originally appeared on BloggingStocks on Tue, 07 Jul 2009 11:20:00 EST. Please see our terms for use of feeds.

The Associated Press reports that jobless claims -- at 455,000 -- hit a six-year high in July. Analysts underestimated the total by 25,000, as they forecast 430,000 such claims. When combined with this morning's disappointing July retail sales results, the economy appears to be doing worse than experts expected.

AP reports that many companies announced layoffs recently. These include General Motors Corp. (NYSE: GM), Weyerhaeuser Co. (NYSE: WY), Starbucks Corp. (NASDAQ: SBUX) and Bennigan's restaurants. More such layoffs are likely to be announced as the economy prepares a recessionary banquet of woes for the presidential candidates.

The lesson for those interested in economics is pretty clear. You can create the illusion of prosperity by borrowing lots of money. If someone lends me $100 million and I buy a big estate on Long Island, people will think I am rich. But if I can't pay back the loan, the bank will kick me out of the house and suddenly I won't look so well off.

That's what the banks are doing now across wide swaths of the economy. And it will be years before the mess is cleaned up.

Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in the securities mentioned.

Jobless claims spurt to six-year high -- economy doing worse than expected originally appeared on BloggingStocks on Thu, 07 Aug 2008 10:00:00 EST. Please see our terms for use of feeds.

TheStreet.com's Jim Cramer says the Weyerhaeuser and Bristol-Myers stories slipped under the radar yesterday.

Did anyone even see that Weyerhaeuser (NYSE: WY) (Cramer's Take) made this great trade with International Paper (NYSE: IP) (Cramer's Take), getting out of the commodity container board business and pulling in $6 billion to reduce debt? To me, anytime you get out of a commodity business you lift your multiple, even if the rest is constrained by the housing-related lumber business.

Or how about the story that Bristol-Myers (NYSE: BMY) (Cramer's Take) might sell its baby-food business for a big chunk of change, another $6 billion.

Hmm, $12 billion in shuffles, both good for the shufflers, and no one really cares.

That's the problem with the endless focus on the financials, something I know I am falling prey to, too. Because of the focus, for example, I also missed that Caterpillar (NYSE: CAT) (Cramer's Take) traded back to $68 and change after trading up to $75, a terrific opportunity.

Continue reading Cramer on BloggingStocks: Financial fixation can cost you

Cramer on BloggingStocks: Financial fixation can cost you originally appeared on BloggingStocks on Tue, 18 Mar 2008 10:50:00 EST. Please see our terms for use of feeds.

International Paper boxes division of Weyerhaeuser for $6 billion originally appeared on BloggingStocks on Mon, 17 Mar 2008 15:16:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Palm Inc (NASDAQ: PALM) was upgraded to Outperform from Market Perform by Morgan Keegan, who expects PALM's recapitalization to bring more financial discipline, better growth from new products, and views the valuation as compelling.
• FuelTech Inc (NASDAQ: FTEK) was upgraded to Buy from Accumulate at ThinkEquity, which believes the company technologies are well-positioned as the U.S. Clean Air Act takes effect.
• Bank of America upgraded Weyerhaeuser Company (NYSE: WY) to Buy from Neutral, citing valuation and their prediction that the company's restructuring will create value for shareholders.
• John Wiley & Sons Inc (NYSE: JW.A) was upgraded to Buy from Hold by Stifel Nicolaus & Co, which views the company as a consistent performer with emerging catalysts and reasonable valuation.

• Circuit City Stores Inc (NYSE: CC) was added to the SMid Money List at JP Morgan.
• Fifth Third Bancorp (NASDAQ: FITB) was upgraded to Market Perform from Underperform at Keefe Bruyette & Woods.
• United Technologies Corporation (NYSE: UTX) was upgraded to Outperform from Market Perform by Bernstein.
• BreitBurn Energy Partners LP (NASDAQ: BBEP) was upgraded to Buy from Hold by AG Edwards.

Analyst upgrades: PALM, FTEK, WY and JW.A originally appeared on BloggingStocks on Fri, 14 Sep 2007 10:00:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Medarex Inc (NASDAQ: MEDX) was initiated with a Positive rating at Susquehanna. The firm said Medarex has multiple drivers include a potential buyout by one of its existing partners, as well as clinical progress and the success of its technology platform in monoclonal antibody therapeutics.
• Susquehanna also initiated shares of Dyax Corporation (NASDAQ: DYAX), Millennium Pharmaceuticals Inc (NASDAQ: MLNM), and Idera Pharmaceuticals Inc (AMEX: IDP) with Neutral ratings and Dynavax Technologies Corporation (NASDAQ: DVAX) and Coley Pharmaceutical Group Inc (NASDAQ: COLY) with Positive ratings.
• Rayonier Inc (NYSE: RYN), Plum Creek Timber Company Inc (NYSE: PCL) and Weyerhaeuser Company (NYSE: WY) were initiated with Buy ratings at Merrill Lynch.
• Kona Grill was initiated with an Outperform rating at Cowen. The firm believes Kona can grow its asset base 10-fold at strong store-level cash-on-cash ROICs.

• Jefferies initiated shares of Input/Output Inc (NYSE: IO) with a Buy rating and $19 target.
• Goldman Sachs initiated shares of Minerals Technologies Inc (NYSE: MTX) with a Buy rating and $80 target.
• JP Morgan initiated shares of Orexigen Therapeutics Inc (NASDAQ: OREX) with an Overweight rating and is positive on the company's obesity pipeline.

Analyst initiations 6-07-07: Pharmaceutical companies, timber and KONA originally appeared on BloggingStocks on Thu, 07 Jun 2007 11:18:00 EST. Please see our terms for use of feeds.

Chevron Corporation

Chevron looks to the trees for the future originally appeared on BloggingStocks on Thu, 12 Apr 2007 15:32:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• RBC downgraded Apartment Investment & Management Co (NYSE: AIV) to Underperform from Sector Perform based on valuation and concerns regarding the company's transaction focus.

• Weyerhaeuser Co (NYSE: WY) was downgraded at BMO to Underperform from Market Perform based on valuation.

• Morgan Stanley downgraded Edwards Lifesciences (NYSE: EW) to Underweight from Equal-Weight based on increased competition and aggressive Street estimates for the downgrade.

• William Blair downgraded TiVo Inc (NASDAQ: TIVO) to Market Perform from Outperform citing slowing customer growth, competition, rising subscriber acquisition costs and valuation.

• Canccord cut Hollis-Eden Pharmaceuticals Inc (NASDAQ: HEPH) to Hold from Buy following the cancellation of the ARS contract.

• Morgan Stanley downgraded Cymer, Inc (NASDAQ: CYMI) to Underweight from Equal-Weight.

• Baird cut Genesco Inc (NYSE: GCO) to Neutral from Outperform following lowered guidance.

• Merriman cut Distributed Energy Systems Corp (NASDAQ: DESC) to Neutral from Buy following the company's lower-than-expected Q4 revenues.

Analyst downgrades 3-08-07: TiVo finds competiton growing originally appeared on BloggingStocks on Thu, 08 Mar 2007 11:20:00 EST. Please see our terms for use of feeds.

Note: The Daily Option Update is provided by Stock Options Specialist Paul Foster of theflyonthewall.com.

Mirant Corp. (NYSE:MIR) implied volatility Elevated at 32 as MIR trades near Record levels.

MIR is expected to report full EPS & hold a conference call on 3/5. MIR has been frequently mentioned as a potential candidate for announcing a recapitalization or a share repurchase. MIR call option volume of 1,044 contracts compares to put volume of 3,001 contracts. MIR overall option implied volatility of 32 is above its 26-week average of 26 according to Track Data, suggesting larger price risks.

New Century Financial Corp (NYSE:NEW) low cost deep OTM April & May 5 put spread trades as Hedge.

NEW, a real estate investment trust, providing mortgage products to borrowers nationwide, is recently down 37c to $15.47. NEW deep out of the money April 5 puts traded 4,715 contracts near the bid at .12 & .13 cents above its theoretical value of .01 cent. NEW deep out of the money May 5 puts traded 5,568 contracts on the offer of .40 cents above theoretical value of .04 cents according to Track Data, suggesting spreaders paying up to hedge risk.

Continue reading Daily option update - March 2, 2007

Daily option update - March 2, 2007 originally appeared on BloggingStocks on Fri, 02 Mar 2007 12:58:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Bank of America and UBS downgraded Playboy Enterprises (NYSE: PLA) to Neutral from Buy, citing limited visibility.

• Citigroup downgraded Embratel Participacoes ADS (NYSE: EMT) to Sell from Hold on expected lower liquidity following Telfonos de Mexico SA ADS (NYSE: TMX) voluntary tender expiration.

• Choice Hotels Int'l Inc (NYSE CHH) was downgraded to Underperform from Peer Perform at Bear Stearns following the company's Q4 report and guidance.

• VeraSun Energy Corp (NYSE: VSE) was downgraded to Sell from Neutral at Goldman based on relative valuation.

• Goldman Sachs also downgraded 1-800-Flowers.com Inc (NASDAQ: FLWS) to Sell from Neutral based on valuation.

• Piper Jaffray downgraded Buffalo Wild Wings Inc (NASDAQ: BWLD) to Market Perform from Outperform citing difficult year-over-year comps and increased chicken wing prices.

• CIBC downgraded Nasdaq Stock Market Inc (NASDAQ: NDAQ) to Sector Performer from Outperformer.

• ThinkEquity downgraded Zoltek Companies inc (NASDAQ: ZOLT) to Accumulate from Buy.

• BMO Capital Markets cut Weyerhaeuser Co (NYSE: WY) to Market Perform from Outperform based on valuation.

Analyst downgrades 2-14-07: Playboy downgraded to Neutral originally appeared on BloggingStocks on Wed, 14 Feb 2007 11:55:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Goldman Sachs downgraded Embarq Corp (NYSE: EQ) to Sell from Neutral based on valuation and potential margin dilution.

• Boston Scientific Corp (NYSE: BSX) was downgraded to Peer Perform from Outperform at Bear Stearns based on regulatory and competitive challenges.

• Despite expectations of strong Q4 results and 2007 guidance, Needham downgraded Garmin Ltd (NASDAQ: GRMN) to Hold from Buy based on valuation, as they believe the multiple the market is willing to give the stock is likely to decline as PNDs continue to increase as a percentage of revenue.

• Roth Capital downgraded China BAK Battery Inc (NASDAQ: CBAK) to Hold from Buy.

• DA Davidson downgraded Weyerhaeuser Co (NYSE: WY) to Neutral from Buy.

• BMO Capital Markets downgraded Brady Corp (NYSE: BRC) to Market Perform from Outperform.

• Wachovia downgraded Boyd Gaming Corp (NYSE: BYD) to Market Perform from Outperform, expecting weakness in 2007 from the Las Vegas locals market and Atlantic City.

• Penn National Gaming Inc (NASDAQ: PENN) was downgraded to Hold from Buy at Deutsche Bank citing valuation.

Analyst downgrades 2-12-07: Embarq, Garmin & Boyd Gaming all downgraded originally appeared on BloggingStocks on Mon, 12 Feb 2007 11:30:00 EST. Please see our terms for use of feeds.

Continue reading Weyerhaeuser: to convert or not to convert?

Weyerhaeuser: to convert or not to convert? originally appeared on BloggingStocks on Fri, 15 Dec 2006 13:14:00 EST. Please see our terms for use of feeds.

Chinese President Hu Jintao may be ready to crack down on pirates in his country who ignore international copyright and intellectual property protections.  While touring Microsoft's Washington state campus, President Hu told bill Gates, "Because you, Mr. Gates, are a friend of China, I'm a friend of Microsoft." 

President Hu says he deals with Microsoft operating system daily.  Chinese government officials indicated they will crack down on the sales of illegal copies of Microsoft's Windows operating system.  Some computer makers plan to ship more computers with legitimate Windows software installed.  Microsoft will eventually see an increase in sales to China, but analysts believe it will be a long time before there is a significant impact on Microsoft's bottom line.

After touring Microsoft's facilities, Bill Gates hosted a private dinner at his home for President Hu with 100 guests, including executives from Costco Wholesale Corp., Weyerhaeuser Co., Boeing and Amazon.com Inc.  Boeing got the best news from President Hu, who agreed to purchase 80 Boeing 737 jets valued at $5.2 billion.  Well that's list price ... the final deal will probably include some price discounts.

Let's hope President Hu's promise to Microsoft will extend to other holders of U.S. copyright and intellectual property rights- - including other software producers, movie studios, and apparel brands.

Did Microsoft succeed in getting China to crack down on copyright pirates? originally appeared on BloggingStocks on Wed, 19 Apr 2006 08:03:00 EST. Please see our terms for use of feeds.