isle posts
FeedPosted Aug 29th 2009 10:10AM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Dell (DELL), Diageo plc (DEO), Staples Inc (SPLS), Toll Brothers (TOL), Burger King Hldgs (BKC), Marvell Technology Group (MRVL), American Eagle Outfitters (AEO)
Continue reading Earnings highlights: Burger King, Dell, Dollar Tree, J. Crew, Staples, Toll Bros. ...
Posted Aug 26th 2009 2:45PM by Elizabeth Harrow (RSS feed)
Filed under: Major movement, Earnings reports, Bad news
Isle of Capri Casinos (NASDAQ: ISLE) is getting hammered today in the wake of its latest earnings report. This morning, the company reported that it swung to a fiscal first-quarter profit of $900,000, or 3 cents per share, while revenue for the period slipped 6.3% to $259.9 million. The results were far worse than expected, with consensus estimates on Wall Street predicting a profit of 13 cents per share on $273 million in revenue.
On the cost-cutting front, ISLE's previously planned departure from the international market is on pace, reported Chairman and CEO James B. Perry. "... we remain on track to exit our international operations in the near term, as we will exit the Bahamas no later than October 31, and expect to exit our remaining UK operations by the end of the calendar year."
Continue reading Bears punish Isle of Capri Casinos after disappointing earnings
Posted Sep 19th 2008 11:08AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations
Analyst upgrades:
- Oppenheimer upgraded shares of Cree (NASDAQ: CREE) to Outperform from Perform as they believe LEDs are beginning to gain traction in general lighting applications.
- Jefferies upgraded Constellation Energy (NYSE: CEG) to Hold from Underperform following the acquisition by MidAmerican Energy. The company's target was increased to $25 from $20.
- RBC upgraded the Banking sector to Overweight from Underweight following the governments "massive assault" on the financial crisis. RBC believes government actions that include the potential creation of a Resolution Trust Corporation, the creation of federal insurance for money market fund investors and the ban on short selling will result in higher bank stock prices through year end; Wilmington Trust (NYSE: WL), KeyCorp (NYSE: KEY) and Pacific Capital Bancorp (NASDAQ: PCBC) were upgraded to Sector Perform from Underperform.
- Oracle (NASDAQ: ORCL) was raised to Buy from Neutral at Piper.
- UBS upgraded Murphy Oil (NYSE: MUR) to Neutral from Sell.
- Gap (NYSE: GPS) was upgraded to buy from Neutral at Goldman Sachs.
Analyst downgrades:
- Deutsche Bank downgraded shares of Thomson Reuters (NASDAQ: TRIN) to Sell from Buy as they believe uncertainty in the financial sector will hinder growth.
- Piper cut MIPS Technologies (NASDAQ: MIPS) to Neutral from Buy as they believe estimates are at risk following the departure of ChipIdea's co-founder. The company's target was lowered to $3.70 from $8.
- Jefferies downgraded GSI Commerce (NASDAQ: GSIC) to Hold from Buy on valuation as they view the risk/reward less compelling following the recent rally.
- Host Hotels (NYSE: HST) was downgraded at Baird to Neutral from Outperform.
- Wachovia downgraded Accenture (NYSE: ACN), Cognizant (NASDAQ: CTSH) and Infosys (NASDAQ: INFY) to Market Perform from Outperform.
Analyst initiations:
- Jefferies initiated Abercrombie & Fitch (NYSE: ANF) with an Underperform rating and $38 target and thinks the company's sales and margins are at risk with negative comp trends getting worse.
- Cantor believes Lawson Software (NASDAQ: LWSN) has a powerful franchise while the stock trades at a 33% discount to peers. Shares were assumed with a Buy rating and $8 target.
- Stanford started Mentor (NYSE: MNT) with a Buy rating and $32 target and thinks the company is poised to benefit from growing global demand for products and services that make people look younger and more attractive.
- Scripps Networks (NYSE: SNI) was initiated at UBS with a Neutral rating and $43 target.
- BMO Capital initiated Costco (NASDAQ: COST) and BJ's Wholesale (NYSE: BJ) with Market Perform ratings and a $72 target and $42 target, respectively.
- Isle of Capri (NASDAQ: ISLE) was initiated at Goldman with a Sell rating and $6 target.
Posted Jul 5th 2008 2:40PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, General Electric (GE), Ford Motor (F), Citigroup Inc. (C), Sprint Nextel Corp (S), Fortune Brands (FO), BP p.l.c. ADS (BP), Andersons Inc (ANDE)
Here are some highlights from this past week's earnings coverage from BloggingStocks:
More highlights from this past week: Apollo Group, Family Dollar, Kroger, Deutsche Bank and others
Also, while Jim Cramer ponders what will signal the bottom, many investors will be looking at next week's earnings results for General Electric (NYSE: GE), the world's largest conglomerate, as a sign of the direction of the global market. And BusinessWeek reminds us that cheap stocks -- even with big names such as Ford Motor Co. (NYSE: F), Sprint Nextel Corp. (NYSE: S), and Northwest Airlines (NYSE: NWA) -- are no bargain if they have no earnings.
Upcoming results to watch for include Alcoa (NYSE: AA), Pepsi Bottling Group (NYSE: PBG), Marriott International (NYSE: MAR), and General Electric (NYSE: GE).
Visit AOL Money & Finance for more earnings coverage.
Posted Jul 5th 2008 11:40AM by Victoria Erhart (RSS feed)
Filed under: Earnings reports, Bad news
There is something rotten in Denmark, to quote from Hamlet, Act I, as well as in Las Vegas, Louisiana, Mississippi, Colorado, Iowa, and Florida. Gambling havens, once thought recession proof, are in trouble. Customer numbers are down, as are gambling, gift shop, hotel, and restaurant revenues. Casinos in Las Vegas have been hard hit, according to a recent article in the Wall Street Journal, because of billions of dollars of debt to finance overambitious expansion plans. Tropicana Entertainment filed for Chapter 11 in May, defaulting on $2.67 billion in bank and bond debt. But smaller casinos are also feeling the pain.
Isle of Capri Casinos Inc. (NASDAQ: ISLE) recently reported 4Q and FY2008 results. Snake eyes. Investors know they are not in for good news when the CEO spends the first few paragraphs of an earnings release discussing what a "transformational period" the last year has been. That's corporate-speak for "money losing," beginning with a $78.7 million write down in the value of some of the company's international assets and ending with a $51.3 million loss from continuing operations in 4Q 2008. All told, Isle of Capri Casinos lost $96.9 million from continuing operations in FY2008.The company cited increased competition in riverboat gambling in Biloxi, a smoking ban in casinos in Colorado, and a flood in Natchez as reasons for the lackluster performance. The company admits it needs to renovate 1,200 of its hotel rooms in order to attract customers back to the slots and tables.
The stock is currently trading at $4.23, near its 52-week low of $3.97.
Posted Sep 10th 2007 11:00AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Kellogg Co (K), General Mills (GIS), Kraft Foods'A' (KFT)
MOST NOTEWORTHY: The U.S. food industry, Mylan Labs, Amerigroup and Isle of Capri were today's noteworthy upgrades:
- BMO Capital upgraded the U.S. food industry sector to Outperform from Market Perform to reflect the group's defensive nature, the recent valuation contraction, and predictable earnings growth. General Mills (NYSE: GIS) is the firm's top pick in packaged food, and they raised Kellogg Company's (NYSE: K) target to $59 and Kraft Foods' (NYSE: KFT) to $36.
- Credit Suisse upgraded Mylan Laboratories (NYSE: MYL) to Outperform Underperform, as the firm believes investors are "too negative" on the Merck transaction. The firm said the company is well-positioned long-term to be a leader in the global generics industry.
- Credit Suisse also upgraded shares of Amerigroup Corporation (NYSE: AGP) to Outperform from Underperform, as they believe the company is poised for better than expected margin improvement in 2007 and 2008.
- Isle of Capri Casinos Inc's (NASDAQ: ISLE) rating was upped to Buy from Hold at Morgan Joseph, citing indications of progress in the company's turnaround.
OTHER UPGRADES:
Posted Jun 19th 2007 11:21AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, , YRC Worldwide (YRCW)
MOST NOTEWORTHY: YRC Worldwide (YRCW), BEA Systems (BEAS), Isle of Capri Casinos (ISLE), Assured Guaranty Ltd (AGO) and Avaya (AV) were today's more noteworthy downgrades:
- Wachovia downgraded YRC Worldwide (NASDAQ: YRCW) to Market Perform from Outperform citing the challenging LTL freight environment and continued integration issues.
- UBS downgraded shares of BEA Systems (NASDAQ: BEAS) to Neutral from Buy on valuation as they believe expectations for a takeover or investor activism is already priced into shares.
- Matrix believes Isle of Capri (NASDAQ: ISLE) is expensive on a performance-adjusted basis and recommends investors sell shares into the recent rally, downgrading shares to Sell from Hold.
- JMP Securities downgraded Avaya (NYSE: AV) to Market Perform from Strong Buy, as the firm doesn't expect a superior offer to the Silver Lake/TPG bid...
OTHER DOWNGRADES:
- Morgan Stanley downgraded Wynn Resorts (NASDAQ: WYNN) to Equal Weight from Overweight.
- Morgan Keegan downgraded Inter-Tel Inc (NASDAQ: INTL) to Market Perform from Outperform.
Analyst summaries provided by
TheFlyOnTheWall.com (subscription required).
Posted Apr 9th 2007 10:47AM by Kevin Shult (RSS feed)
Filed under: Analyst upgrades and downgrades, Good news, Dell (DELL), ConAgra Foods (CAG)
MOST NOTEWORTHY: Today's noteworthy upgrades include ConAgra Foods, Inc (CAG), Dell Inc (DELL), Ryland Group, Inc (RYL) and Volterra Semiconductor Corp (VLTR).
- Prudential upgraded shares of ConAgra Foods Inc (NYSE: CAG) to Neutral from Underweight with a $26 target on valuation.
- Pacific Crest upgraded shares of Dell Inc (NASDAQ: DELL) to Outperform from Sector Perform as the firm believes new management, new products and supply chain cost realignments could boost operating margins.
- Ryland Group, Inc (NYSE: RYL) was upgraded to Neutral from Underperform at Credit Suisse.
- Unterberg upgraded shares of Volterra Semiconductor (NASDAQ: VLTR) to Market Perform from Underperform on valuation.
OTHER UPGRADES:
- Friedman Billings upgraded Peabody Energy Corp (NYSE: BTU) to Outperform from Market Perform based on lack of CAPP exposure, growth profile, rising international demand and certain benefits from the scrubber trend.
- JP Morgan upgraded shares of Cincinnati Bell Inc (NYSE: CBB) to Overweight from Neutral, as the firm believes higher capex is reflected in the valuation and FCF should recover in 2008.
- Sandler upgraded First Charter Corp (NASDAQ: FCTR) to Buy from Hold based on valuation.
- Brean Murray has increased confidence in the success of Isle of Capri Casinos' (NASDAQ: ISLE) Isle casino, soon to open at Pompapno Park, and the considerable option value that should be embedded in shares related to a Florida gaming bill which would loosen restrictions on gaming at pari-mutual facilities. The firm upgraded shares to Buy from Hold on the news.
- Deutsche Bank upgraded shares of Pogo Producing Co (NYSE: PPP) to Hold from Sell to reflect the likelihood of corporate action over the near term, most likely the sale of the company in whole or in parts.
- Merill Lynch upgraded Janus Capital Group Inc (NYSE: JNS) and Calamos Asset Management, Inc (NASDAQ: CLMS) to Buy from Neutral.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).Posted Jan 26th 2007 11:32AM by Kevin Shult (RSS feed)
Filed under: Before the bell, AT and T (T), CBS Corp 'B' (CBS), Trump Entertainment Resorts (TRMP), Analyst initiations, Level 3 Communications (LVLT)
MOST NOTEWORTHY: The Gaming sector and CBS Corp (CBS) were the most notable companies on today's initiation list.
- Prudential initiated the Gaming sector with a Favorable rating,
- They initiated Boyd Gaming Corp (NYSE: BYD), Town Sports International Holdings (NASDAQ: CLUB), Penn National Gaming (NASDAQ: PENN), Shuffle Master Inc (NASDAQ: SHFL), Steiner Leisure Ltd (NASDAQ: STNR) and Great Wolf Resorts Inc (NASDAQ: WOLF) with Outperform ratings.
- Ameristar Casinos Inc (NASDAQ: ASCA), MGM Mirage (NYSE: MGM) and WMS Industries Inc (NYSE: WMS) were initiated with Neutral ratings.
- Underweight ratings were given to International Game Tech (NYSE: IGT), Isle of Capri Casinos Inc (NASDAQ: ISLE), Life Time Fitness Inc (NYSE: LTM), Pinnacle Entertainment Inc (NYSE: PNK) and Trump Entertainment Resorts Inc (NASDAQ: TRMP).
- UBS initiated CBS Corp (NYSE: CBS) with a Buy rating and $38 target, citing valuation, dividends and buybacks.
OTHER INITIATIONS:
- Nollenberger believes International Rectifier Corp (NYSE: IRF) is the way to play the trend for energy efficiency, initiating the company with a Buy rating and $60 target.
- Goldman Sachs resumed coverage of AT&T Inc (NYSE: T) with a Buy rating and Level 3 Communications inc (NASDAQ: LVLT) with a Neutral rating.
- Stanford started EDO Corp (NYSE: EDO) with a Hold rating and $25 target; the firm believes EDO can be a turnaround story in 2007, but they recommend investors to stay on the sidelines until after Q4 earnings given their concerns over the quarter and guidance.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).