Analyst upgrades:

• Citigroup upgraded Lubrizol (LZ) to Hold from Sell following the company's analyst day citing its continued pricing power in lubricants. Citi upped its target price for shares to $115 from $82.
• Janney Montgomery upgraded Viacom (VIA) to Buy from Neutral citing the company's ratings improvement, 2011 film slate, and video game pipeline. The firm has a $45 price target for shares.
• BMO Capital resumed coverage on Gammon Gold (GRS) with an Outperform from a Market Perform following the its equity issue. The firm has a $12.50 price target on the stock.
• Comerica (CMA) and First Horizon (FHN) were upgraded to Buy from Hold at Deutsche Bank.
• Prudential (PRU) was upgraded to Equal Weight from Underweight at Barclays.
• Itron (ITRI) was upgraded to Hold from Sell at Stifel Nicolaus.

Continue reading Analyst Calls: VIA, CMA, PRU, CMG, PBR, TXN, DHR, HUM

Analyst Calls: VIA, CMA, PRU, CMG, PBR, TXN, DHR, HUM originally appeared on BloggingStocks on Wed, 06 Oct 2010 11:15:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• RBC Capital upgraded Brookfield Infrastructure (BIP) to outperform from sector perform with a $20 target. The firm thinks the units' valuation is compelling, while the company's proposed acquisition of assets is positive.
• Stifel upgraded First Horizon (FHN) to buy from hold based on valuation and its path towards normalized profitability. The firm has a $15 price target on the stock.
• KeyBanc upgraded Isle of Capri (ISLE) to buy from hold based on improved earnings growth and valuation. The firm has a $13 target on the stock.
• ATA Inc. (ATAI) was upgraded to neutral from underweight at Piper Jaffray.
• Buckeye Partners (BPL) was upgraded to neutral from sell at Goldman.
• Sinopec (SNP) was upgraded to overweight from neutral at HSBC.

Continue reading Analyst Calls: ANN, BIP, DUK, FHN, ISLE, JCG, POM, RE, SMT ...

Analyst Calls: ANN, BIP, DUK, FHN, ISLE, JCG, POM, RE, SMT ... originally appeared on BloggingStocks on Tue, 24 Aug 2010 11:30:00 EST. Please see our terms for use of feeds.

Last week, JPMorgan Chase & Co. (JPM) led off the coming parade of earnings from the big banks when it reported better-than-expected fourth-quarter and full-year earnings, though its revenue fell short of estimates.

Plenty more earnings from the financial sector are due out this week. Analysts surveyed by Thomson Reuters anticipate fourth-quarter earnings growth from American Express Co. (AXP), Bank of New York Mellon Corp. (BK), Hudson City Bancorp Inc. (HCBK), SLM Corp. (SLM) and US Bancorp (USB).

Continue reading The Week in Preview: Q4 Earnings Expectations for the Financial Sector

The Week in Preview: Q4 Earnings Expectations for the Financial Sector originally appeared on BloggingStocks on Sun, 17 Jan 2010 12:30:00 EST. Please see our terms for use of feeds.

Goldman Sachs upgraded the banking sector last week, and this coming week we'll get a chance to see whether Goldman and other big banks reporting third quarter results will live up to the expectations of analysts surveyed by Thomson Reuters.

New York-based Goldman Sachs Group Inc. (NYSE: GS) looks set to be this week's earnings game winner. Analysts expect this dividend-paying company to report a third-quarter profit of $4.24 per share, which is 57.3% higher than in the same period of last year. Revenue for the period that ended in September is expected to be $11.0 billion. So far, the full-year forecast is for $17.74 per share on $44.6 billion.

Continue reading Week in preview: Goldman Sachs, JPMorgan, Google, IBM and more earnings

Week in preview: Goldman Sachs, JPMorgan, Google, IBM and more earnings originally appeared on BloggingStocks on Sun, 11 Oct 2009 12:30:00 EST. Please see our terms for use of feeds.

• Deutsche Bank upgraded HealthSouth (NYSE: HLS) and Rehabcare (NYSE: RHB) to Buy from Hold after raising its Post Acute Care sector view to Positive from Neutral. The firm believes volumes and margin leverage can drive better than expected Q2 results and 2009 guidance. The firm raised its target on HealthSouth shares to $16 from $12 and on Rehabcare to $28 from $19.
  
• Jefferies upgraded Moody's (NYSE: MCO) to Hold from Underperform to reflect stabilizing credit markets and its belief regulatory concerns are overstated. The firm raised its target on shares to $30 from $19.
  
• Keefe Bruyette upgraded Goldman Sachs (NYSE: GS) to Outperform from Market Perform as it finds the stock inexpensive following the better than expected results. The firm has a $195 target on shares.
• Vale (NASDAQ: VALE) was upgraded to Buy from Neutral at BofA/Merrill.
  
• CNOOC (NYSE: CEO) was upgraded to Overweight from Equal Weight at Morgan Stanley.
  
• International Game Tech (NYSE: IGT) was upgraded to Buy from Neutral at Janney Montgomery.
  

Continue reading Analyst calls: MCO, VALE, GS, CSCO, PALM, LLY, JBHT, PTR

Analyst calls: MCO, VALE, GS, CSCO, PALM, LLY, JBHT, PTR originally appeared on BloggingStocks on Wed, 15 Jul 2009 12:00:00 EST. Please see our terms for use of feeds.

• Stephens upgraded The Andersons (NASDAQ: ANDE) to Overweight from Equal Weight on expectations the company is benefiting from good space income opportunities and better ethanol profitability. The firm raised its target price to $31 from $28.
  
• Jefferies upgraded NRG Energy (NYSE: NRG) to Buy from Hold as the analyst believes Exelon (NYSE: EXC) will have to materially raise its offer to close the acquisition. The firm raised its target on shares to $25 from $22.50.
  
• FBR Capital upgraded FMC Technologies (NYSE: FTI) to Outperform from Market Perform after meeting with management to reflect the company's 2011 growth potential. The firm raised its target on shares to $51.
• J. Sainsbury (OTC: JSAIY) was upgraded to Overweight from Equal Weight at Morgan Stanley.
  
• SVB Financial (NASDAQ: SIVB) and Fulton Financial (NASDAQ: FULT) were upgraded to Outperform from Sector Perform at RBC Capital.

Continue reading Analyst upgrades, downgrades and initiations: ANDE, CAR, YUM, INTC, NKE ...

Analyst upgrades, downgrades and initiations: ANDE, CAR, YUM, INTC, NKE ... originally appeared on BloggingStocks on Thu, 04 Jun 2009 11:40:00 EST. Please see our terms for use of feeds.

• HSBC upgraded Royal Bank of Scotland (NYSE: RBS) to Overweight from Neutral as it believes the risk of immediate nationalization has been removed.
  
• JP Morgan upgraded DTS Inc (NASDAQ: DTSI) to Overweight from Neutral to reflect accretion from the Neural acquisition and its expectation the company can generate strong cash flow during the downturn. The firm raised its target to $18.
  
• Cowen upgraded Coach (NYSE: COH) to Outperform from Neutral citing the recent sell-off in shares.
  
• BJ's Wholesale (NYSE: BJ) was upgraded to Buy from Neutral at UBS.
  
• First Horizon (NYSE: FHN) was upgraded to Overweight from Equal Weight at Morgan Stanley.
  
• Spartech (NYSE: SEH) was raised to Hold from Underweight at KeyBanc.

Continue reading Analyst upgrades, downgrades and initiations: RBS, COH, BJ, QCOM, SNDK, MAT, MGM ...

Analyst upgrades, downgrades and initiations: RBS, COH, BJ, QCOM, SNDK, MAT, MGM ... originally appeared on BloggingStocks on Tue, 03 Feb 2009 10:55:00 EST. Please see our terms for use of feeds.

The new earnings season ramps up this week as Alcoa Inc. (NYSE: AA) reports fourth-quarter results. Last week, the Pittsburgh-based producer of aluminum and alumina announced layoffs and production cuts as a reaction to the economic downturn. Analysts surveyed by Thomson Reuters expect that Alcoa will have swung to its first quarterly loss in years: $0.10 per share. That compares to a profit of $0.36 per share in the same period of the previous year. Revenues for the quarter are expected to have fallen 28.8% from a year ago to $5.3 billion. For 2008, analysts are looking for earnings of $1.40 per share on revenue of $27.6 billion, down from $2.60 per share and $30.8 billion in the previous year. Alcoa missed earnings estimates in three of the past five quarters, by 25.4% in the third quarter. The consensus recommendation of analysts shifted from buy to hold AA during the past quarter. The share price has been climbing in recent weeks, but it is 65.6% lower than a year ago.

Intel Corp. (NASDAQ: INTC) is also scheduled to report fourth-quarter results this week, one of a handful of tech stocks to do so. The number one semiconductor maker is expected to post earnings down 86.8% to $0.05 per share, and sales of $8.2 billion, down 23.3% from a year ago. Last week, Intel forecast sales for the quarter of $8.2 billion. The full-year numbers are expected to be marginally lower than a year ago, or $0.94 per share on $37.7 billion. Intel only missed earnings estimates in one of the past five quarters. Shares are about $2.00 higher than the 52-week low, but 37.2% lower than a year ago.

Continue reading The week in preview: Alcoa, Intel kick off new earnings season

The week in preview: Alcoa, Intel kick off new earnings season originally appeared on BloggingStocks on Sun, 11 Jan 2009 12:30:00 EST. Please see our terms for use of feeds.

Who knows why the Treasury gives our money to some banks and not to others. That comes to mind when considering that we just gave $18 billion to 10 regional banks -- three of which are unprofitable. Why does this matter? Because giving taxpayer money to an unprofitable bank could be as good as flushing it away. I guess Treasury figures it can always get more where that came from, so why not?

Here are the lucky winners of the government bailout lottery that earned a profit and their pre-market stock price change:

• SunTrust (NYSE: STI): $540 million -4.6%
• Capital One Financial Corp. (NYSE: COF): $374 million -2.3%
• Northern Trust (NASDAQ: NTRS): $214 million -2.1%
• Regions Financial (NYSE: RF): $206 million -0.8%
• Huntington Bancshares (NASDAQ: HBAN): $115 million +6.1%
• Valley National Bancorp (NYSE: VLY): $41 million 0%
• City National (NYSE: CYN): $16.6 million 0%

And here are the three that lost money but still got taxpayer capital -- the amount of their latest loss is in parentheses:

Continue reading 10 more banks get $18 billion of our money; three are money losers

10 more banks get $18 billion of our money; three are money losers originally appeared on BloggingStocks on Mon, 27 Oct 2008 09:58:00 EST. Please see our terms for use of feeds.

Continue reading Some of today's biggest losers: BAC, AXP, BK, FITB, NCC, FHN, MT, FCX, AAPL, CC

Some of today's biggest losers: BAC, AXP, BK, FITB, NCC, FHN, MT, FCX, AAPL, CC originally appeared on BloggingStocks on Mon, 29 Sep 2008 18:20:00 EST. Please see our terms for use of feeds.

In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.

First Horizon National Corporation (NYSE: FHN) operates as the holding company for First Tennessee Bank, making it one of many regional banks on our roster. If you're the intelligent, discerning audience that I assume you to be, I probably need only mention that FHN is in the mortgage-lending business for you to guess what might be ailing the stock.

What went wrong? At number 15 on our list of SPX laggards, FHN shed 76% of its value during the 10-year period ending June 30, 2008. The stock peaked at $48.65 in March 2004, but didn't start to plunge in earnest until July 2007. Say it with me, people: subprime.

While the share price didn't plummet immediately in response, FHN first revealed mortgage-related weakness in August 2006. The bank warned that quarterly earnings would be dented by deteriorating mortgage-market conditions, and profits fell during the next two quarters. FHN cited "lower gain on sale margins, further reductions in new mortgages and increased costs to hedge the servicing risks for mortgage loans" for the earnings weakness.

On September 4, 2007, FHN's head of employee services got chatty with The Memphis Daily News. John Daniel admitted that the bank was trimming its headcount gradually in a cost-cutting effort, but reassured the paper that the subprime crisis didn't have too deep an impact. "We don't see any significant reductions in staff as a result of what's happening in the mortgage industry right now," he asserted. Just a week later, on September 13, the Daily News reported that FHN was slashing 50% of its mortgage sales force, about 2,000 total positions.

Continue reading Worst 10-year performers: First Horizon National rocked by subprime fallout

Worst 10-year performers: First Horizon National rocked by subprime fallout originally appeared on BloggingStocks on Mon, 28 Jul 2008 13:20:00 EST. Please see our terms for use of feeds.

"Wells Fargo (NYSE: WFC) absolutely surprised Wall Street, which had downbeat expectations for lower earnings," reports Richard Rhodes, trading expert and editor of The Rhodes Report.

"WFC earned $1.75 billion or $0.53/share for the April to June period, which is down just a bit from $2.28 billion or $0.67 per share for the same period last year. Provisions for credit losses were $3 billion, which included increase in reserves for future losses of $1.5 billion.

"But what really surprised the market was that fact that WFE raised their quarterly dividend to $0.34/share per quarter from $0.31, a near +10% increase. In a world where most, if not all, banks are raising capital and slashing dividends - WFC sees fit to stand on the Left Coast and shout that 'all is fine in the water, come on in!'

"This should support the banking community today, which given yesterday's better-than-expected earnings out of First Horizon (NYSE: FHN), has tended to cause a bit of short covering in the banks.

"In our view, this will be a large test for the banking sector. We are interested in how it trades today given the good WFC news - WFC is higher by nearly +10% as we finish up writing, for if they can rally and hold their gains, we are apt to put on an aggressive long position to capture a sharper short covering rally that may cause value managers to 'dip their toe' into the water and become buyers.

"Expectations have been inordinately low; the regional banks are showing there are managing their businesses relatively well."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.

Wells Fargo (WFC): Beating expectations originally appeared on BloggingStocks on Wed, 16 Jul 2008 09:43:00 EST. Please see our terms for use of feeds.

Continue reading Cramer on BloggingStocks: The breadth of the danger is staggering

Cramer on BloggingStocks: The breadth of the danger is staggering originally appeared on BloggingStocks on Tue, 15 Jul 2008 08:56:00 EST. Please see our terms for use of feeds.

After the implosion of IndyMac Bancorp (NYSE: IMB) and news of the deterioration of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) last week, there's bound to be a certain level of trepidation as the earnings crunch begins this coming week and many big financial companies report. Here's a look at what Wall Street was expecting (see The week in preview: Expectations as the earnings crunch begins for expectations of other reporting companies.)

Analysts surveyed by Thomson Financial are expecting the following of companies to report lower earnings when compared to the same period of the previous year.

• JPMorgan Chase & Co. (NYSE: JPM): 44 cents EPS (-63.3%) on sales of $16.4 billion (-13.2%)
• Comerica Inc. (NYSE: CMA): 51 cents EPS (-59.2%) on sales of $680.2 million (-7.3%)
• Zions Bancorp. (NYSE: ZION): 75 cents EPS (-47.6%) on sales of $627.3. million (+2.7%)
• Huntington Bancshares Inc. (NYSE: HBAN): 23 cents EPS (-32.4%) on sales of $617.1 million (+50.7%)
• Capital One Financial Corp. (NYSE: COF): $1.31 EPS (-30.7%) on sales of $4.4 billion (+7.8%)
• Wells Fargo & Co. (NYSE: WFC): 50 cents EPS (-25.4%) on sales of $10.7 billion (+7.7%)
• M&T Bank Corp. (NYSE: MTB): $1.50 EPS (-23.1%) on sales of $756.6 million (+1.6%)
• BB&T Corp. (NYSE: BBT): 69 cents EPS (-16.9%) on sales of $1.8 billion (+5.9%)
• U.S. Bancorp (NYSE: USB): 60 cents EPS (-7.7%) on sales of $3.8 billion (+8.3%)
• PNC Financial Services Group Inc. (NYSE: PNC): $1.16 EPS (-7.2%) on sales of $1.9 billion (+8.5%)

Continue reading Financials expected to post earnings declines, losses this week

Financials expected to post earnings declines, losses this week originally appeared on BloggingStocks on Sun, 13 Jul 2008 12:40:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• JP Morgan lowered its rating on Intel (NASDAQ:INTC) to Neutral from Overweight, as their checks indicate a late-quarter slowdown for Intel in order rates from the PC end market, which offset the upside the company experienced in earlier in Q4.
  
• Banc of America downgraded shares of Respironics (NASDAQ:RESP) to Neutral from Buy to reflect the acquisition by Philips (NYSE:PHG).
  
• Friedman Billings downgraded First Horizon (NYSE:FHN) to Underperform from Market Perform, citing its exposure to home equity and construction loans and mortgage banking operations. The firm adds that it expects the company to cut its quarterly dividend.

• JP Morgan removed General Motors (NYSE:GM) from its Focus List.
  
• Merrill downgraded Hess Corp (NYSE:HES) to Neutral from Buy.
  
• Lehman downgraded Westlake Chemical (NYSE:WLK) to Equal Weight from Overweight.

Analyst downgrades: INTC, RESP and FHN originally appeared on BloggingStocks on Fri, 04 Jan 2008 11:43:00 EST. Please see our terms for use of feeds.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"For more conservative investors, my favorite idea for 2008 is First Horizon National Corp. (NYSE: FHN), the Tennessee-based holding company for First Tennessee Bank," says Keith Fitz-Gerald, editor of Money Morning.

"Its banks feature all the offerings you might expect from a good regional bank: Savings, checking, mortgages, investment banking, and brokerage services. It's not exactly an innovative idea -- minimize risks and maximize profits.

"But let's face it, it's a tried-and-true strategy that most US banks have abandoned as they chase after the (allegedly) big profits that subprime-backed debt, leveraged buyouts and other similarly esoteric investments appeared to promise.

"Yes, FHN really over-extended itself in the credit markets and recently announced a loss of $14.2 million. More losses may be coming. And its ultra-high dividend yield off 7.93% may be in jeopardy. Nonetheless, we think the stock's beating was overdone.

Continue reading Best Stocks for 2008: Bank on 'tried and true' with First Horizon (FHN)

Best Stocks for 2008: Bank on 'tried and true' with First Horizon (FHN) originally appeared on BloggingStocks on Wed, 26 Dec 2007 10:30:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY UPGRADES:

• Hilliard Lyons upgraded Sypris Solutions (NASDAQ: SYPR) to Buy from Neutral on valuation, and expected improvements in the company's Industrial Group and Electronics Group.
  
• TD Newcrest upgraded Quebecor World (NYSE: IQW) to Hold from Reduce, while UBS upgraded Quilmes Industrial (NYSE: LQU) to Neutral from Sell.

• Respironics Inc. (NASDAQ: RESP) was downgraded to Market Perform from Outperform by BMO Capital, following the company's acquisition by Philips.
  
• Think Equity downgraded Nanophase Technologies (NASDAQ: NANX) to Accumulate from Buy, citing checks that indicate sales for architectural coatings remain sluggish.
  
• Golden Telecom (NASDAQ: GLDN) was lowered to Equal Weight from Overweight by Morgan Stanley.
  
• First Horizon National Corp. (NYSE: FHN) was downgraded to Sell from Hold on Friday by Sandler, O'Neill & Partners.

Analyst upgrades and downgrades originally appeared on BloggingStocks on Mon, 24 Dec 2007 10:50:00 EST. Please see our terms for use of feeds.

• IMS Health (NYSE: RX) was upgraded to Neutral from Underperform at Baird on valuation.
  
• Keefe Bruyette upgraded First Horizon (NYSE: FHN) to Market Perform from Underperform on valuation.
• UBS upgraded Rite Aid (NYSE: RAD) to Buy from Neutral based on valuation and potential West Coast divestiture.

• Schering-Plough (NYSE: SGP) was upgraded to Overweight from Equal Weight at Lehman.
  
• Research in Motion (NASDAQ: RIMM) was upgraded to Outperform from Peer Perform at Bearn Stearns.
  
• Kenexa (NASDAQ: KNXA) was upgraded to Buy from Accumulate at ThinkEquity.

Analyst upgrades: RIMM, RX, FHN and RAD originally appeared on BloggingStocks on Fri, 21 Dec 2007 09:55:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Jefferies initiated BioForm Medical (NYSE: BFRM) with a Buy rating and $12 target and believes the risk/reward is positive given the company's differentiated technology and the strong growth dynamics of the dermal filler market. They also think the possibility of a takeout provides a valuation floor in the stock.
  
• UBS believes Hexcel Corp. (NYSE: HXL) will grow faster than other aerospace suppliers given the production ramp in composite rich aircraft. The firm assumed coverage with a Buy rating and $30 target.
  
• Wachovia expects Genesis Energy (AMEX: GEL) to benefit from recently announced acquisitions, strong tertiary oil recovery activity by Denbury Resources (NYSE: DNR) in Mississippi, and growing industrial gas segment, starting shares with an Outperform rating..

• Banc of America initiated Dollar Tree Stores (NASDAQ: DLTR) with a Neutral rating and $30 target.
  
• JP Morgan initiated First Horizon National Corp. (NYSE: FHN) with an Overweight rating.
  
• Sandridge Energy (NYSE: SD) was started with an Overweight rating at Lehman, a Neutral rating at Goldman and a Peer Perform rating at Bear.

Analyst initiations: BFRM, HXL and GEL originally appeared on BloggingStocks on Mon, 17 Dec 2007 12:08:00 EST. Please see our terms for use of feeds.

Before the bell: Futures mixed -- much the same as yesterday originally appeared on BloggingStocks on Thu, 13 Sep 2007 07:52:00 EST. Please see our terms for use of feeds.