Continue reading Closing Bell: Better Than It Could Have Been (NILE, GRMN, SKIL, BWLD, DDSS, LEAP. PCS)

Closing Bell: Better Than It Could Have Been (NILE, GRMN, SKIL, BWLD, DDSS, LEAP. PCS) originally appeared on BloggingStocks on Fri, 12 Feb 2010 16:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Earnings working against stocks (BCRX, DELL, DHI, INTC, LEAP, PCS)

Closing Bell: Earnings working against stocks (BCRX, DELL, DHI, INTC, LEAP, PCS) originally appeared on BloggingStocks on Fri, 20 Nov 2009 16:00:00 EST. Please see our terms for use of feeds.

Last week, MetroPCS Communications (NYSE: PCS) ended its $4 billion merger deal for Leap Wireless (NASDAQ: LEAP), which thought the deal wasn't good enough. Both companies provide wireless services to those that the major carriers -- like Verizon (NYSE: VZ) and AT&T (NYSE: T) -- tend to avoid (such as low-income customers).

Well, LEAP shareholders may be regretting things. On the company's latest news bomb, the stock has plunged 34% to $38.33. In fact, since late July, the stock is down a stunning 61%.

First of all, LEAP said it will have to restate financial results for 2004, 2005, 2006 and the first half of 2007. The items include service revenues, operating expenses and so on. The amount is about $20 million or so.

Not so big, huh? Maybe not. After all, the company could be in default on its $890 million of debt.

Oh, and the company garnered only 36,500 subscribers in Q3 (the goal was 40,000). And, it looks like Q4 growth will be meager too.

All in all, it's hard to find anything good here. Then again, Leap's space is full of buyout activity so I wouldn't be surprised if we eventually hear some more buyout buzz on the company, especially in light of the big cut in the valuation.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.

Leap-ing off a cliff: Leap Wireless shares plunge 34% originally appeared on BloggingStocks on Fri, 09 Nov 2007 13:55:00 EST. Please see our terms for use of feeds.

Priceline (NASDAQ: PCLN)'s higher profits are taking shares up 14%. And Rio Tinto (NYSE: RTP) is up 9% on buyout rumors.

Jones Soda (NASDAQ: JSDA) is trading off 19% due to poor earnings. And Leap Wireless (NASDAQ: LEAP) is off 15% on news that it will have to restate earnings.

Douglas A. McIntyre is an editor at 247wallst.com

Pre-market big movers: Priceline (PCLN) and Jones Soda (JSDA) originally appeared on BloggingStocks on Fri, 09 Nov 2007 08:28:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Wachovia downgraded shares of Monster Worldwide (NASDAQ: MNST) to Market Perform from Outperform citing increased risk of an economic slowdown and execution issues in its N.A. Careers segment.
  
• Credit Suisse downgraded shares of Business Objects (NASDAQ: BOBJ) to Neutral from Outperform on valuation with shares above their $46 target.
  
• Banc of America downgraded Arcelor Mittal (NYSE: MT) to Neutral from Buy on valuation. The firm also downgraded Walgreen (WAG) to Sell from Buy, as they see further downside following the Q4 miss and believes the problems in Q4 are company-specific and not industry-wide.
  
• Citigroup downgraded shares of Sealy Corporation (NYSE: ZZ) to Sell from Hold following the Q3 results, as they believe Sealy faces increased competitive pressures at the high end of the market where the best margins are derived.

• Goldman Sachs removed Cisco Systems (NASDAQ: CSCO) and Nucor (NYSE: NUE) from its Conviction Buy List.
  
• Merrill Lynch added Intercontinental Hotels (NYSE: IHG) to its Least Preferred List.
  
• ABN Amro downgraded Rio Tinto (NYSE: RTP) to Hold from Buy.
  
• Soleil downgraded Leap Wireless (NASDAQ: LEAP) to Hold from Buy.

Analyst downgrades: MNST, BOBJ, MT, WAG and ZZ originally appeared on BloggingStocks on Fri, 05 Oct 2007 10:45:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Radian Group (NYSE: RDN) was downgraded to Hold from Buy with a $23 target at Citigroup on concerns over the company's potential merger with MGIC Investment (MTG).

• Heelys (NASDAQ: HLYS) was downgraded to Neutral from Outperform at Baird, to Hold from Buy at Brean Murray, to Neutral from Overweight at JP Morgan, to Sector Performer from Outperformer at CIBC and to Market Perform from Outperform at Wachovia following the company's FY07 guidance which was well below the consensus.

• Sonus Networks (NASDAQ: SONS) was downgraded to Sell from Neutral at Merriman, as the firm believes there are a number of concerns that are not reflected in shares, including a flat N-T revenue outlook, a cut in 700bp in gross margins and a sharp uptick in receivable days, among other things.

• LeapWireless (NASDAQ: LEAP) and MetroPCS were both downgraded to Hold from Buy at Citigroup, as they believe the break in subscriber momentum will last for 6-9 months. Wachovia downgraded Leap Wireless to Market Perform from Outperform citing mixed Q2 results and weak Q3 guidance.

• UBS removed Coca-Cola (NYSE: KO) and Coach (NYSE: COH) from its Strategic Stock Selection List.

• Jones Apparel (NYSE: JNY) was downgraded to Sell from Neutral at Merrill Lynch.

• CBRE Realty (NYSE: CBF) and Dick's Sporting Goods (NYSE: DKS) were downgraded to Hold from Buy at Citigroup.

Analyst downgrades: COH, HLYS, JNY and KO originally appeared on BloggingStocks on Wed, 08 Aug 2007 11:04:00 EST. Please see our terms for use of feeds.