Continue reading Apple Spikes on Rumors of Tablet

Apple Spikes on Rumors of Tablet originally appeared on BloggingStocks on Mon, 28 Dec 2009 09:00:00 EST. Please see our terms for use of feeds.

The Clorox Company (NYSE: CLX), a company whose compatriots at the supermarket include Procter & Gamble (NYSE: PG) and Colgate-Palmolive (NYSE: CL), gave and received some good news this week. First, let's mention the giving. Management saw fit to increase the dividend that it pays to shareholders. The quarterly payout went up 9% to $0.50 per share.

Now, for the receiving. According to an earlier item on BloggingStocks, Oppenheimer thinks the stock is worthy of an outperform rating. A price target of $70 has been set. Which is impressive, since the price of Clorox as of this writing is $56.32 per share.

Continue reading Clorox's upgrade and new dividend level: Which is better?

Clorox's upgrade and new dividend level: Which is better? originally appeared on BloggingStocks on Fri, 12 Jun 2009 17:30:00 EST. Please see our terms for use of feeds.

Bank of America (NYSE: BAC) CEO Ken Lewis has based what is left of his reputation on the fact that the firm does not need another dime in government money. As a matter of fact, he regrets taking as much TARP cash as he did.

According to Bloomberg, Oppenheimer & Co. believes that "Bank of America Corp., the largest U.S. bank, needs to raise $36.6 billion in equity to bring capital ratios in line with its peers." In this environment, that money is not going to come from the private sector. The only entity with the stones to put it up is the U.S. government.

While the money may not come in exchange for common stock, any instrument is likely to have some conversion provisions, which means that dilution is possible. With a market cap of $44 billion, current Bank of America shareholders will be facing a large haircut if Oppenheimer is right. The stock trades at $7.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Bank of America may need more capital originally appeared on BloggingStocks on Thu, 09 Apr 2009 07:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Techs decide to participate with St. Patrick's Day in rally (AA, AAPL, CSCO, DELL, DD, GS, TGT)

Closing Bell: Techs decide to participate with St. Patrick's Day in rally (AA, AAPL, CSCO, DELL, DD, GS, TGT) originally appeared on BloggingStocks on Tue, 17 Mar 2009 16:00:00 EST. Please see our terms for use of feeds.

DealBook reports that Fidelity Investments has agreed to buy back $300 million worth of auction-rate securities (ARS). This settlement is a first in the sense that the previous redeemers were ARS issuers. Fidelity is considered to be "downstream" from the issuers. And its decision to settle puts pressure on other downstream participants such as Oppenheimer and Raymond James.

Exactly what has Fidelity agreed to do? "According to the terms of the deal, the first struck with a 'downstream' seller of these securities, Fidelity will not pay a fine. The firm will buy back auction-rate securities from individuals, charities and institutional investors alike, making no distinction among investor classes, as previous settlements with other firms have," DealBook writes.

Of the $330 billion in ARS that were issued, only 10% have been redeemed so far -- "the big banks have repurchased more than $35 billion of the securities and paid more than $360 million in fines," according to DealBook. I am impressed that regulators are continuing to push hard to get ARS issuers to take care of these investors given all the distraction from the weekly collapse of one major financial institution after another.

Continue reading Fidelity is latest to join Auction Rate Securities redemption bandwagon

Fidelity is latest to join Auction Rate Securities redemption bandwagon originally appeared on BloggingStocks on Fri, 12 Sep 2008 17:36:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Stock traders finally love the oil ticker

Closing Bell: Stock traders finally love the oil ticker originally appeared on BloggingStocks on Tue, 29 Jul 2008 16:08:00 EST. Please see our terms for use of feeds.

Intuitive Surgical Inc. (NASDAQ: ISRG) develops, manufactures and markets robotic technologies designed to improve patient returns.

• ISRG is expected to report EPS on 10/18.
• Oppenheimer says: "We believe any competition ISRG faces is at least 7-10 years away. We believe the recent sell-off offers an opportunity. We continue to rate shares Buy and reiterate our $270 price target."
• ISRG October 250 straddle is priced at $30.90. ISRG overall option implied volatility of 80 is above its 26-week average of 48 according to Track Data, suggesting larger price risk.

Yahoo! Inc. (NASDAQ: YHOO) is expected to report EPS of 8 cents 10/16 according to Thomson First Call.

• Alex Brown has a Hold rating and a $24 price target on YHOO.
• Alex Brown says: "We expect YHOO to report 3Q results in-line to slightly below expectations, as US traffic declines of 9% and search volume slowdown may pressure growth."
• YHOO October 27.5 straddle is priced at $2.71. YHOO November option implied volatility of 51 is above its 26-week average of 36 according to Track Data, suggesting larger risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Visit AOL Money & Finance for more earnings coverage

Option update: Yahoo (YHOO), Intuitive Surgical (ISRG) risky into EPS originally appeared on BloggingStocks on Mon, 15 Oct 2007 11:58:00 EST. Please see our terms for use of feeds.

Newell Rubbermaid upgraded across the board originally appeared on BloggingStocks on Thu, 15 Feb 2007 12:54:00 EST. Please see our terms for use of feeds.