Analyst Upgrades

• Exxon Mobil (XOM), Netflix (NFLX), Noble Corp. (NE), Pioneer Natural (PXD) and Noble Energy (NBL) to buy from neutral at Goldman.
• Cenovus Energy (CVE) to conviction buy from neutral and Atwood Oceanics (ATW) to neutral from sell at Goldman as well.
• Southern Company (SO) to buy from hold at Citigroup.
• Chevron (CVX) to buy from neutral at BofA/Merrill.
• Ryder (R), Entergy (ETR) and Seaspan (SSW) to buy from hold at Jefferies.
• Gerdau (GGB), Crown Castle (CCI) and American Tower (AMT) to buy from neutral at UBS.
• Aon (AON) and Willis Group (WSH) to buy from neutral at Janney Capital.
• Ryland Group (RYL) to buy from neutral at Ticonderoga.

Continue reading Analyst Calls: AON, CVX, HBI, MUR, NBL, NFLX, NVDA, SO, XOM ...

Analyst Calls: AON, CVX, HBI, MUR, NBL, NFLX, NVDA, SO, XOM ... originally appeared on BloggingStocks on Tue, 15 Mar 2011 13:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• FedEx (FDX) and Concur Tech (CNQR) to outperform from neutral at RW Baird.
• Hershey (HSY) to outperform from neutral at Credit Suisse.
• Open Text (OTEX) to outperform from sector perform at RBC Capital.
• Bemis (BMS) and Hudson Pacific (HPP) upgraded to buy from hold at KeyBanc.
• InterActiveCorp (IACI) to buy from neutral at BofA/Merrill.
• KB Home (KBH) to neutral from sell at Goldman.
• News Corp. (NWSA) to neutral from underperform at Cowen.

Continue reading Analyst Calls: FDX, HSY, IACI, FSLR, AON ...

Analyst Calls: FDX, HSY, IACI, FSLR, AON ... originally appeared on BloggingStocks on Thu, 03 Feb 2011 13:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Google (GOOG) to outperform from neutral at Wedbush.
• Nike (NKE) to buy from neutral at UBS.
• Apollo Group (APOL) to market perform from underperform at FBR Capital.
• JDSU (JDSU) to overweight from neutral at Piper Jaffray.
• NetApp (NTAP) to overweight from equal weight and Verigy (VRGY) to equal weight from underweight at Barclays.
• RSC Holdings (RRR) to outperform from neutral at RW Baird.
• Exelon (EXC) to buy from hold at Jefferies.
• Aon (AON) and Willis Group (WSH) to outperform from market perform at Keefe Bruyette.
• BMC Software (BMC) to outperform from neutral at Cowen.

Continue reading Analyst Calls: AON, APOL, EXC, GOOG, NKE, NTAP, RIMM, UA, VRGY ...

Analyst Calls: AON, APOL, EXC, GOOG, NKE, NTAP, RIMM, UA, VRGY ... originally appeared on BloggingStocks on Mon, 13 Dec 2010 11:30:00 EST. Please see our terms for use of feeds.

Investors pushed up call option prices in the medical instruments and supplies industry and pushed up put option prices in the diversified utilities industry Wednesday.

Any time the volatility skews above 1.00, it is an indication that calls are more expensive than puts. Typically, when calls are more expensive than puts, it means the demand for calls is greater than the demand for puts because investors believe the stock is going to rise in the future and they want to take advantage of that movement by buying calls.

The opposite is also true. Any time a volatility skews below 1.00, it is an indication that puts are more expensive than calls.

Continue reading PerkinElmer Leads Bullish Volatility Skews; Wisconsin Energy Leads Bearish

PerkinElmer Leads Bullish Volatility Skews; Wisconsin Energy Leads Bearish originally appeared on BloggingStocks on Wed, 25 Aug 2010 13:00:00 EST. Please see our terms for use of feeds.

The recession has taken a toll on the consulting business. Simply put, companies are being fairly tight with their expenditures -- and yes, consulting is certainly a discretionary item.

So, to deal with this, major consulting operators are consolidating. For example, Aon (AON) recently agreed to shell out $5 billion for Hewitt Associates.

Continue reading PricewaterhouseCoopers Strikes a Deal for Diamond Management

PricewaterhouseCoopers Strikes a Deal for Diamond Management originally appeared on BloggingStocks on Tue, 24 Aug 2010 12:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Deutsche Bank upgraded Illinois Tool Works (ITW) to buy from hold, citing valuation and the company's strong revenue performance. The firm has a $60 price target for shares.
• Goldman upgraded PPD Inc. (PPDI) to buy from hold and raised its price target to $31 from $28. The firm expects strong top line growth and bookings momentum for the upgrade.
• Stifel Nicolaus upgraded Insituform Technologies (INSU) to buy from hold based on higher estimates for sewer rehab and energy. The firm has a $31 target on the stock.
• Patterson-UTI Energy (PTEN) was upgraded to overweight from equal weight at Morgan Stanley.
• Wisconsin Energy (WEC) and Northeast Utilities (NU) were upgraded to buy from neutral at UBS.
• Rockwell Collins (COL) was upgraded to buy from neutral at BofA/Merrill.

Continue reading Analyst Calls: AON, AMED, C, GS, HEW, ITW, JPM, MS, PPDI, TLB, URBN ...

Analyst Calls: AON, AMED, C, GS, HEW, ITW, JPM, MS, PPDI, TLB, URBN ... originally appeared on BloggingStocks on Tue, 13 Jul 2010 11:40:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: A Fifth Straight Win, but Sloppy (AA, BP, HEW, AON, SNDK, WMT, WY)

Closing Bell: A Fifth Straight Win, but Sloppy (AA, BP, HEW, AON, SNDK, WMT, WY) originally appeared on BloggingStocks on Mon, 12 Jul 2010 16:00:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• FBR Capital upgraded Transocean (RIG) to outperform from market perform as it believes congressional hearings and reports indicate the company's blowout preventer at the Deepwater Horizon likely worked properly. The firm has an $87 price target for shares.
• Auriga upgraded First Solar (FSLR) to buy from hold as it believes the recent sell-off in shares as created an attractive entry point. Despite upgrading, the firm lowered its target for shares to $138 from $147.
• Soleil upgraded Priceline.com (PCLN) to buy from hold, citing a favorable risk-reward profile. Despite the upgrade, the firm lowered its target for shares to $230 from $250.
• Blackrock (BLK) was upgraded to conviction buy from buy at Goldman.
• Abbott (ABT) was upgraded to hold from sell at Citigroup.
• Exxon Mobil (XOM) was upgraded to outperform from sector perform at RBC Capital.

Continue reading Analyst Calls: ABT, AON, APA, BX, CSIQ, FSLR, GRMN, GXDX, PCLN, RIG, XOM ...

Analyst Calls: ABT, AON, APA, BX, CSIQ, FSLR, GRMN, GXDX, PCLN, RIG, XOM ... originally appeared on BloggingStocks on Mon, 24 May 2010 11:30:00 EST. Please see our terms for use of feeds.

Continue reading Insurers Ready for Above-Average Hurricane Season

Insurers Ready for Above-Average Hurricane Season originally appeared on BloggingStocks on Thu, 08 Apr 2010 15:40:00 EST. Please see our terms for use of feeds.

Continue reading Reinsurance Industry Approaches Record Levels

Reinsurance Industry Approaches Record Levels originally appeared on BloggingStocks on Thu, 08 Apr 2010 09:30:00 EST. Please see our terms for use of feeds.

The first catastrophe bond of the quarter closed on opening day ... and it was a big one. State Farm's Merna Re II transaction was good for $350 million in risk capital, upsized from the earlier reported amount of $250 million. Though large, it doesn't compare to the previous Merna Re catastrophe bond, which set a record at $1.2 billion that remains to be beat.

Merna Re II was oversubscribed, but State Farm only wanted to place $350 million, Thomson Reuters reports (registration required). According to one investor who knew about the transaction, "The deal was oversubscribed at +365 basis points and after being upsized to $350 million." The investor added, "The initial price talk was 365 - 405 bp, but the deal got priced at 365 bp. However, Merna was a simple transaction and State Farm only wanted to place 350 million."

Continue reading State Farm Closes First Cat Bond of Q2

State Farm Closes First Cat Bond of Q2 originally appeared on BloggingStocks on Fri, 02 Apr 2010 12:40:00 EST. Please see our terms for use of feeds.

Like Willis Re (WSH) and Marsh & McLennan's (MMC) Guy Carpenter, reinsurance broker Aon Benfield (AOC) found risk-transfer pricing to have softened at the April 1, 2010 reinsurance renewal. It was the same story around the world: the Q1 catastrophes may do some damage to earnings, but the sector was sufficiently capitalized to absorb the shocks. In fact, Aon Benfield reported that the reinsurance industry had nearly returned to record capital levels. At the beginning 2008, the sector was in the same situation before the financial crisis and Hurricane Gustav and Ike depleted balance sheets on the same weekend in September.

Continue reading Aon Reports Flat Reinsurance Pricing, No Surprises

Aon Reports Flat Reinsurance Pricing, No Surprises originally appeared on BloggingStocks on Fri, 02 Apr 2010 09:15:00 EST. Please see our terms for use of feeds.

Twitter's a pretty lucky company. Few get two bytes at the hype apple in rapid succession, but this social media platform has found a way to make up for its disappointing announcement about its advertising model. According to VentureBeat, Twitter might unveil its long-awaited, heavily-hyped and possibly investor-satisfying corporate accounts. Next month, at its inaugural Chirp developer conference, we could finally see what might just be the foundation of Twitter's business model.

Continue reading Twitter May Chirp Its Commercial Accounts Next Month

Twitter May Chirp Its Commercial Accounts Next Month originally appeared on BloggingStocks on Fri, 19 Mar 2010 13:40:00 EST. Please see our terms for use of feeds.

Continue reading No Surprise: Chile Leads to Reinsurance Rate Increase Debate

No Surprise: Chile Leads to Reinsurance Rate Increase Debate originally appeared on BloggingStocks on Wed, 10 Mar 2010 15:00:00 EST. Please see our terms for use of feeds.

Interest rates are the top concern among global financial services firms in the pension risk management business.

According to a new survey by Aon's (AON) human capital arm, 58% of the big players in the pension risk management space cite this factor as the biggest issue facing defined benefit pension plan sponsors from the present to 2013. Longevity risk is next, with 21% of the responses, followed by equity markets at 15% and inflation at 6%.

Continue reading Aon Survey: Interest Rates Are the Greatest Pension Risk

Aon Survey: Interest Rates Are the Greatest Pension Risk originally appeared on BloggingStocks on Tue, 09 Mar 2010 13:00:00 EST. Please see our terms for use of feeds.

Continue reading 2010 Catastrophe Losses Already Half Last Year's Total

2010 Catastrophe Losses Already Half Last Year's Total originally appeared on BloggingStocks on Mon, 08 Mar 2010 14:30:00 EST. Please see our terms for use of feeds.

Continue reading Fortune 500 Loves Twitter, Especially the Insurance Business

Fortune 500 Loves Twitter, Especially the Insurance Business originally appeared on BloggingStocks on Fri, 26 Feb 2010 10:30:00 EST. Please see our terms for use of feeds.

Insurance broker Aon (AON) reported a 2% increase in organic revenue in its EMEA region in the fourth quarter, due largely to its performance in emerging markets. The only country in the region where it said revenue fell was the UK. Overall revenue for the fourth quarter of last year increased 9% to $2.1 billion, though organic revenue dropped 2% worldwide. Revenue from insurance broking operations gained 8% (to $1.7 billion), representing a decline of 1%.

Currency trends led to an increase in operating expenses of 10% for Aon, which rose $162 million to $1.8 billion. Of this, $96 million came from currency-related issues. Restructuring expenses related to the Benfield acquisition were up $88 million to $175 million.

Continue reading Despite UK Drop, Aon Sees Revenue Grow in Q4

Despite UK Drop, Aon Sees Revenue Grow in Q4 originally appeared on BloggingStocks on Sun, 07 Feb 2010 11:40:00 EST. Please see our terms for use of feeds.

The end of a year means a rush of data from the insurance and reinsurance industries, as treaties are renewed for the coming year. Catastrophe bonds are a part of this annual orgy of data production, as a flurry of activity occurs in December, with the industry's commitment to this form of alternative property-catastrophe risk-transfer setting the tone for the year to come. The cat bond market isn't big enough to push reinsurance rates, but you can generally get a sense of what the coming year will look like for cat bonds based on pricing for traditional reinsurance.

Continue reading Catastrophe Bond Market Hits Target, Records Possible in 2010

Catastrophe Bond Market Hits Target, Records Possible in 2010 originally appeared on BloggingStocks on Mon, 04 Jan 2010 17:45:00 EST. Please see our terms for use of feeds.

Lloyd's of London is poised to take some risks in 2010. In fact, it's ready to put more than $36 billion into the insurance and reinsurance world, according to analysts at reinsurance intermediary Guy Carpenter, a division of Marsh & McLennan (MMC).

The year-over-year increase could be as high as 27% compared to 2009, with the additional capacity coming from lower risk-transfer rates for some lines of business, though much of it is being offered to compensate for the weakness of the British pound relative to stronger currencies, such as the U.S. dollar.

Continue reading Lloyd's Amps Up Insurance and Reinsurance Capacity This Year

Lloyd's Amps Up Insurance and Reinsurance Capacity This Year originally appeared on BloggingStocks on Mon, 04 Jan 2010 11:30:00 EST. Please see our terms for use of feeds.