- Oracle (ORCL) to outperform from perform at Oppenheimer.
- Accenture (ACN) to buy from hold at Jefferies.
- Advanced Energy (AEIS) and Applied Materials (AMAT) to overweight from equal weight at Barclays.
- Spreadtrum (SPRD) to buy from hold at Auriga.
- Healthcare Realty Trust (HR) and Tortoise Energy Capital (TYY) to outperform from neutral at RW Baird.
- Global Payments (GPN) to equal weight from underweight at Morgan Stanley.
- CBS (CBS) to buy from neutral at BofA/Merrill.
- Sonic (SONC) to outperform from neutral at Cowen.
acom posts
FeedAnalyst Calls: ACN, AMAT, AZN, BBT, CBS, GPN, IP, ORCL, PKG, SONC, V ...
Continue reading Analyst Calls: ACN, AMAT, AZN, BBT, CBS, GPN, IP, ORCL, PKG, SONC, V ...
Closing Bell: Unemployment must not be relevant (GE, ACOM, FNM, ZIOP, MOT, NVDA)
Today was a surprise considering the news. There was not great economic news to hang on, particularly considering that the 10.2% unemployment was the worst reading since 1983. As the market did not crater and as it went positive throughout the day, it almost felt as though the 10.2% of the officially unemployed don't matter to the economy as everyone keeps noting the 'lagging indicator' effect. Still, stocks held their own for most of the day and where the real direction for the end of the day bells felt uncertain until the end of the day. Here are today's unofficial closing bell levels:
Dow 10,023.19 +17.23 (0.17%)
S&P 500 1,069.30 +2.67 (0.25%)
Nasdaq 2,112.44 +7.12 (0.34%)
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Continue reading Closing Bell: Unemployment must not be relevant (GE, ACOM, FNM, ZIOP, MOT, NVDA)
Hyatt and Ancestry.com IPOs: Beginners' luck?
The IPO market has been pretty slow for the past two years due to the effects of a subprime mortgage crisis that turned into a credit crisis that turned into a worldwide financial crisis and recession. Nonetheless, two companies made their debuts Thursday -- one on the NYSE (NYSE: NYX), the other on the NASDAQ -- and they nailed it. Hyatt Hotels (NYSE: H) gave its investors a 12% gain on its first Big Board trading day, and Ancestry.com (NASDAQ: ACOM) switched those digits, jumping 21% in its first day of trading.
Hyatt Hotels overcame two major concerns. The worldwide travel market slump has been tough on hotel companies, and Hyatt has been subject to the same forces as everyone else. Also, investors may have been worried about infighting among the founder's heirs (the Pritzker family), but the double-digit price increase suggests that investors don't foresee Bancroft-style squabbles screwing investors -- or, if you don't like Dow Jones, now a part of News Corp (NASDAQ: NWS), Playboy (NYSE: PLA) makes the same point.
Continue reading Hyatt and Ancestry.com IPOs: Beginners' luck?
Ancestry.com explores an IPO
In fact, this week the company hit another milestone: an IPO. Ancestry.com issued 7.4 million shares at $13.50 each. The expected price range was $12.50 to $14.50.
Ancestry.com goes for the IPO money tree
Ancestry.com has done something that many sites have failed to do -- it built a thriving subscription business. In fact, the site has nearly one million paying subscribers.
Capitalizing on things, Ancestry.com has now filed to go public and the offering should hit the markets within a couple months. Based on the financials and the steady growth rates investors are likely to eat up the shares.
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