Analyst Upgrades

• General Growth (GGP) to outperform from neutral at Credit Suisse.
• PPL Corp. (PPL) to outperform from market perform at FBR Capital.
• Hudson City Bancorp (HCBK) to neutral from reduce at Nomura.
• Hologic (HOLX) to conviction buy from buy at Goldman.
• Cognex (CGNX) to overweight from neutral at Piper Jaffray.
• Buckeye Partners (BPL) to outperform from market perform at Wells Fargo.
• Ericsson (ERIC) and Health Care REIT (HCN) to buy from neutral and Olin (OLN) to neutral from sell at UBS.
• Nalco (NLC) to overweight from neutral at JPMorgan.
• Watts Water (WTS) to buy from hold at BB&T.
• McDermott (MDR) to buy from neutral at Pritchard.

Continue reading Analyst Calls: AMTD, BPL, BX, ERIC, FTE, GGP, HCBK, HCN, NE, PPL, TUP ...

Analyst Calls: AMTD, BPL, BX, ERIC, FTE, GGP, HCBK, HCN, NE, PPL, TUP ... originally appeared on BloggingStocks on Thu, 03 Mar 2011 11:20:00 EST. Please see our terms for use of feeds.

Betting on the outcome of a buyout is no easy feat. Will there be a heated auction? Or will the bidders have doubts and want price concessions?

The result is often much volatility. Just look at Beckman Coulter (BEC), a top medical diagnostic instruments company. In early December, the company put itself up for sale and the stock price surged to $72. Since then, the shares have traded in band of $71 to $75.

Continue reading Danaher Shells Out $6.8 Billion for Beckman Coulter

Danaher Shells Out $6.8 Billion for Beckman Coulter originally appeared on BloggingStocks on Mon, 07 Feb 2011 10:00:00 EST. Please see our terms for use of feeds.

Since early September, shares of the major private equity firms Blackstone Group (BX) and KKR & Co. (KKR) have seen strong gains. Of course, part of the reason has been the bull move. But at the same time, the prospects for private equity are looking brighter. In fact, the upcoming year is shaping up to be strong for public offerings.

According to a report from Bloomberg.com, it looks like private-equity backed deals will account for roughly half the volume. And they will generally be massive transactions. Some that are on deck include HCA Holdings, Nielsen Holdings and Kinder Morgan.

Continue reading Blackstone, KKR Get Ready for Mega IPOs

Blackstone, KKR Get Ready for Mega IPOs originally appeared on BloggingStocks on Mon, 03 Jan 2011 11:20:00 EST. Please see our terms for use of feeds.

Beckman Coulter (BEC), a top medical diagnostic instruments company, has been public over 20 years. But it looks like its days of independence may soon be over. According to a report in the Wall Street Journal, Beckman is in the process of selling itself. So far in today's trading, the shares are up 27% to $72.57, with the market cap at about $5 billion.

Beckman's products span many categories like biomedical testing and lab automation. The installed base is roughly 200,000. In fact, a large portion of the revenues come from recurring sources (such as refilling supplies for the machines). In other words, Beckman has sturdy cash flow stream.

Continue reading Is Beckman Coulter Buyout Bait?

Is Beckman Coulter Buyout Bait? originally appeared on BloggingStocks on Fri, 10 Dec 2010 14:15:00 EST. Please see our terms for use of feeds.

If you have been shying away from the Blackstone Group (BX) because its stock has fallen from a high above $17 in October 2009 to a low just above $9 earlier this month, you are not alone. However, it is time to take a second look at this private-equity firm gone public.

Blackstone, citing a rebound in the value of its real estate portfolio, surprised Wall Street today by beating analyst expectations by 2 cents per share. The consensus estimate had come in at 16 cents, and Blackstone posted earnings of 18 cents per share on $205 million in profit.

This may be the catalyst the stock needed to help it complete an inverted head-and-shoulders pattern on its chart and send it climbing higher.

Continue reading Bullish Reversal Pattern on Blackstone After Earnings

Bullish Reversal Pattern on Blackstone After Earnings originally appeared on BloggingStocks on Thu, 22 Jul 2010 17:00:00 EST. Please see our terms for use of feeds.

Continue reading Don't Get Sucked into the KKR IPO

Don't Get Sucked into the KKR IPO originally appeared on BloggingStocks on Wed, 07 Jul 2010 17:00:00 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 No Bargains in Private Equity, Unlike 2001

No Bargains in Private Equity, Unlike 2001 originally appeared on BloggingStocks on Mon, 01 Mar 2010 15:10:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• American Public Education Inc. (APEI) received an analyst upgrade following the Q4 report and guidance.
• Autodesk Inc. (ADSK) traded higher after it reported swinging to a profit in Q4, but revenue declined year over year.
• Blackstone Group (BX) reported adjusted Q4 earnings, compared to a year-ago loss, and postive renvenue too.
• Campbell Soup Co. (CPB) higher Q2 earnings beat estimates, but shares fell on so-so revenue results.
• DreamWorks Animation SKG Inc. (DWA) lower Q4 earnings beat expectations but net income for the full year rose.
• Garmin Ltd. (GRMN) topped analysts' Q4 earnings expectations but shares fell after it warned of lower margins.

Continue reading Earnings Highlights: Campbell, Dreamworks, Home Depot, Safeway, Target ...

Earnings Highlights: Campbell, Dreamworks, Home Depot, Safeway, Target ... originally appeared on BloggingStocks on Sat, 27 Feb 2010 14:10:00 EST. Please see our terms for use of feeds.

For alternative asset managers, the financial results can be complex and volatile. Just look at the Blackstone Group's (BX) latest quarterly results. Revenues came to $725.3 million, which compares to negative revenues of $611.3 million in the same period a year ago. Adjusted earnings were $329.4 million, or $0.29 per share, which is up from a loss of $763.8 million, or $0.68 per share.

Of course, these results also reflect the brutal impact of the credit crunch.

Continue reading Blackstone Sees a Thaw

Blackstone Sees a Thaw originally appeared on BloggingStocks on Fri, 26 Feb 2010 14:00:00 EST. Please see our terms for use of feeds.

JPMorgan Chase (JPM) wanted a piece of what could be the most interesting insurance IPO of the year, but it won't get a taste.

American International Group's (AIG) Asian life insurance unit, American International Association, is going to go public in Hong Kong for an estimated $10 billion, and JPMorgan isn't being allowed to play, insiders say, because of a sour relationship that stretches back to the September 2008 financial crisis. As a result, it will be the only major investment bank not being admitted to the party.

Continue reading AIG Skips JPMorgan for Asian IPO

AIG Skips JPMorgan for Asian IPO originally appeared on BloggingStocks on Mon, 15 Feb 2010 11:00:00 EST. Please see our terms for use of feeds.

For a mega private equity firm like Blackstone (BX), there's a need to get liquidity on a mega scale. So this week, the firm prepared for one of its holdings, Travelport, to go public. The deal could be worth as much as $3 billion.

Blackstone will float the deal on the London Stock Exchange. There will also be the issuance of 7.2% of the stock to Government of Singapore Investment Corp. (for about $225 million).

Continue reading Blackstone Preps Travelport for a $3 Billion IPO

Blackstone Preps Travelport for a $3 Billion IPO originally appeared on BloggingStocks on Tue, 19 Jan 2010 12:20:00 EST. Please see our terms for use of feeds.

Continue reading Blackstone Checks-In a Deal for Highland Hospitality

Blackstone Checks-In a Deal for Highland Hospitality originally appeared on BloggingStocks on Wed, 06 Jan 2010 14:40:00 EST. Please see our terms for use of feeds.

While there was an uptick in the IPO market during the past couple months, it looks like things are cooling down. It seems that investors are holding off from riskier investments until next year.

Unfortunately, this is not good news for Team Health Holdings (TMH), which launched its IPO Wednesday. The company planned to issue 20 million shares at a range of $14 to $16. Instead, Team Health was only able to fetch $12 each for 13.3 million shares. The stock price was up 43 cents in morning trading.

Continue reading Team Health: Feeling some pain on its IPO

Team Health: Feeling some pain on its IPO originally appeared on BloggingStocks on Wed, 16 Dec 2009 12:30:00 EST. Please see our terms for use of feeds.

Controlled by the Blackstone Group (BX), Pinnacle Foods is a packaged foods company whose brands can be found in about 80% of the households in the U.S. The portfolio includes Duncan Hines baking mixes and frostings, Vlasic pickles and Swanson frozen dinners.

Well, Pinnacle will get even bigger; that is, the company -- along with the financing from Blackstone -- will purchase Birds Eye Foods for roughly $1.3 billion. There will also be debt financing from Barclays Capital (BCS), Credit Suisse (CS), BofA Merrill Lynch (BAC), HSBC and Macquarie Capital.

Continue reading Blackstone chomps on $1.3B deal for Birds Eye

Blackstone chomps on $1.3B deal for Birds Eye originally appeared on BloggingStocks on Thu, 19 Nov 2009 12:40:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Abercrombie & Fitch Co. (ANF) lower Q3 results still topped expectations and sent shares higher.
• Applied Materials Inc. (AMAT) posted much better-than-expected Q4 earnings, the first profit in a year.
• AstraZeneca (AZN) received an analyst's downgrade due to concerns over its earnings prospects.
• Blackstone Group (BX) received an analyst's upgrade following the company's Q3 results.
• Blockbuster Inc. (BBI) widened its net loss in Q3 and revenue and same-stores sales declined.
• Clean Energy Fuels Corp. (CLNE) shares declined after its Q3 numbers fell short of expectations.
• Consolidated Water Co. Inc. (CWCO) earnings prospects for 2010 earned it an analyst upgrade.

Continue reading Earnings highlights: Abercrombie, Blockbuster, Disney, Macy's, Walmart ...

Earnings highlights: Abercrombie, Blockbuster, Disney, Macy's, Walmart ... originally appeared on BloggingStocks on Sat, 14 Nov 2009 14:10:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Keefe Bruyette upgraded Blackstone Group (BX) to outperform from market perform following the company's Q3 results and maintains an $18.50 price target on shares.
• Baird upgraded Astec (ASTE) to outperform from neutral citing relative valuation and upside from new multi-year U.S. highway funding legislation. The firm raised its target to $33 from $27.
• Goldman upgraded Abercrombie & Fitch (ANF) to conviction buy from neutral citing "significant" long-term growth drivers that include international growth. The firm raised its target to $45 from $36.
• Ariad Pharmaceuticals (ARIA) was upgraded to overweight from neutral at JPMorgan.
• Energizer (ENR) was upgraded to overweight from equal weight at Morgan Stanley.
• AstraZeneca (AZN) was upgraded to buy from hold at RBS.

Continue reading Analyst upgrades, downgrades and initiations: ANF, AZN, BX, GPS, PH, RAIL, VRSN ...

Analyst upgrades, downgrades and initiations: ANF, AZN, BX, GPS, PH, RAIL, VRSN ... originally appeared on BloggingStocks on Mon, 09 Nov 2009 11:10:00 EST. Please see our terms for use of feeds.

Over the past decade we seen at least $1 trillion dollars spent by private equity firms. These firms have taken over companies for a pittance and then pillaged them by slashing employees and cutting costs. They then used the money to pay down debt rather than rebuilding the company.

Now all of the debt thrown on the acquired companies is coming due and it could cause another economic disaster, even bring down the economy.

Continue reading Will private equity take down the economy?

Will private equity take down the economy? originally appeared on BloggingStocks on Tue, 03 Nov 2009 13:30:00 EST. Please see our terms for use of feeds.

Up until the credit crisis, private equity firms had it made. They had plenty of leverage to play with and could load up their acquisition targets with it. So, they could realize a fantastic return on equity, mitigate their own risks, and show that they were the studs of the Street.

Then, all that went away. Credit markets dried up, and private equity companies lost their acquisition fuel. The numbers aren't as big as they used to be, but it looks like the private equity market is back in action.

Continue reading Private equity biz back in action

Private equity biz back in action originally appeared on BloggingStocks on Thu, 15 Oct 2009 11:00:00 EST. Please see our terms for use of feeds.

The private equity industry has been through the worst, but now it seems the situation is taking a turn for the better. Stephen Schwarzman, CEO of Blackstone (NYSE: BX) expects deal flow and IPOs to bounce, saying the economy is showing "more than green shoots" of recovery.

Schwarzman, speaking at the Super Return Middle East conference in Dubai, doesn't expect another slip into recession, but the full recovery will take time, for all the same reasons you've been reading on BloggingStocks for a while: tighter lending standards; uncooperative consumers who won't spend beyond their means and so on.

Continue reading Blackstone ready for recovery with exit strategy of sales and IPOs

Blackstone ready for recovery with exit strategy of sales and IPOs originally appeared on BloggingStocks on Wed, 14 Oct 2009 10:30:00 EST. Please see our terms for use of feeds.