MOST NOTEWORTHY:

• Baird reduced estimates across the board in the process control sector due to lower expectations for North American industrial and residential construction. The firm downgraded Roper Industries (NYSE: ROP), Regal-Beloit Corp (NYSE: RBC) and Baldor Electric (NYSE: BEZ) to Neutral from Outperform and AO Smith Corporation (NYSE: AOS) to Underperform from Neutral.
• Goldman downgraded shares of R.H. Donnelley Corporation (NYSE: RHD) to Neutral from Buy after the company updated its 2007 guidance to reflect deteriorating trends in local advertising.
  
• Vonage Holdings Corp (NYSE: VG) was downgraded to Sell from Hold at Soleil due to liquidity concerns.
  
• Coca-Cola Enterprises (NYSE: CCE) was downgraded to Hold from Buy at Deutsche Bank on valuation and mixed near-term trends.
  
• Transocean Inc (NYSE: RIG) was downgraded to Hold from Buy at Gabelli. Even though the deepwater market continues to be strong, the firm is concerned regarding the continuing weakness in the jackup market as well as the limited upside potential due to the company's ships being in use through 2009.

• XM Satellite Radio Holdings (NASDAQ: XMSR) and Sirius Satellite Radio Inc (NASDAQ: SIRI) were downgraded to Neutral from Buy at UBS.
  
• Blue Nile Inc (NASDAQ: NILE) was downgraded to Neutral from Buy at Suntrust.
  
• Citigroup downgraded shares of CheckFree Corporation (NASDAQ: CKFR) to Hold from Buy.
  
• Morgan Stanley downgraded McAfee Inc (NYSE: MFE) to Underweight from Equal Weight.

Analyst downgrades: Process control sector, RHD, VG, CCE and RIG originally appeared on BloggingStocks on Wed, 19 Sep 2007 11:35:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Shares of Baldor Electric Co (NYSE: BEZ) were initiated by Baird with an Outperform rating and $42 target. The firm believes that Baldor's already-premium market position is strengthened by their acquisition of Rockwell's Power Systems. The firm believes that as the company starts to realize integration synergies, management's initial earnings accretion forecast of $0.10 in 2007 is conservative, earnings surprises will be likely and the company should be able to sustain their current valuation.

• Harris Interactive Inc (NASDAQ: HPOL) was initiated with a Buy rating and $7 target at Roth Capital. The firm believes Harris Interactive is positioned to take market share in market research as the company operates one of the largest online survey panels with more than 6 million members.

Analyst initiations 2-05-07: Baldor Electric started with an Outperform originally appeared on BloggingStocks on Mon, 05 Feb 2007 11:05:00 EST. Please see our terms for use of feeds.

• AeroViroment (AVAV), a 6.7M-share IPO for ths unmanned aircraft manufacuturer. AVAV has a $14.00-$16.00 filing range
• Converted Organics (COIN), a 2M-share IPO for this fertilyzer company. COIN has a $5.00-$6.00 filing range.
• Meruelo Maddux Properties (MMPI), a 40M-share IPO to pay-off debt and for other corporate purposes. MMPI has a $12.00-$14.00 filing range.
• Oculus Innovative Sciences (OCLS), a 3.5M-share IPO for this developer of wound/infection treatments. OCLS has a $8.00-$10.00 filing range. This IPO was re-scheduled from December 2006.
• Oritani Financial (ORIT), a 10.575M-share IPO for this savings & loan holding company.

• Alllis-Chambers Energy (ALY), a 4.5M-share Secondary. ALY is engaged in oilfield services.
• Baldor Electric (BEZ), a 6.25M-share Secondary. BEZ designs and manufactures electric motors.
• Covanta (CVA), a 5.77M-share Secondary for this diversified utility.
• Edge Petroleum (EPEX), a 9.2M-share Secondary to finance the pending acquisition of oil and gas properties from Smith Production Inc. and to refinance Edge's existing revolving credit facility.
• Inverness Medical Innovations (IMA), a 5M-share Secondary to repay outstanding debt and for
• working capital and other general corporate purposes.
• J Crew Group (JCG), a 7.5M-share Secondary to fund the business growth/development.

Continue reading IPO and Secondary Preview schedule for the week of Jan 22, 2007

IPO and Secondary Preview schedule for the week of Jan 22, 2007 originally appeared on BloggingStocks on Fri, 19 Jan 2007 17:28:00 EST. Please see our terms for use of feeds.