Continue reading Before the Bell: Futures Advance on Deal News

Before the Bell: Futures Advance on Deal News originally appeared on BloggingStocks on Mon, 17 May 2010 08:05:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Keefe Bruyette upgraded MSCI Inc. (MXB) to outperform from market perform on valuation following Monday's sell-off as it views the acquisition of RiskMetrics (RISK) favorably. The firm has a $36 price target on shares. UBS also upgraded MSCI, to buy from neutral, and raised its target to $40 from $34, citing the recent pullback in shares and the accretive acquisition of RiskMetrics.
• Deutsche Bank upgraded Suncor (SU) to hold from sell on valuation and raised its price target on shares to $28 from $20. The firm continues to prefer Canadian Natural (CNQ) to Suncor, however, and raised its target on shares to $80 from $78.
• JMP Securities upgraded Grubb & Ellis (GBE) to outperform from market perform based on the improved operating environment and balance sheet, and valuation, among other reasons.
• Dell (DELL) was upgraded to buy from neutral at UBS.
• FEMSA (FMX) was upgraded to overweight from neutral at HSBC.
• Westar Energy (WR) was upgraded to outperform from market perform at Wells Fargo.

Continue reading Analyst Calls: AGN, AOL, DELL, KMB, MXB, RISK, SNDA, T ...

Analyst Calls: AGN, AOL, DELL, KMB, MXB, RISK, SNDA, T ... originally appeared on BloggingStocks on Tue, 02 Mar 2010 11:20:00 EST. Please see our terms for use of feeds.

Today was one of those days that started out strong and just stayed strong. Spending in January rose 0.5% but outpaced a 0.1% gain in personal income. This morning's strength came on the heels of an overseas stock market rally and that was enough to keep things rolling all day, even if the manufacturing data was lackluster. Here were today's unofficial closing bell levels:

DJIA: 10,403 (+0.76%)
S&P 500: 2,273 (+1.58%)
NASDAQ: 1,115 (+1.02%)

Top Analyst Upgrades/Downgrades
Top Day Trader Alerts

Continue reading Closing Bell: The Upward Momentum Stuck (AAPL, NYT, AIG, SIRI, IPI, OSIP)

Closing Bell: The Upward Momentum Stuck (AAPL, NYT, AIG, SIRI, IPI, OSIP) originally appeared on BloggingStocks on Mon, 01 Mar 2010 16:00:00 EST. Please see our terms for use of feeds.

• Thomas Weisel upgraded SanDisk (NASDAQ: SNDK) to Overweight from Market Weight due to accelerating manufacturing cost declines, potential NAND flash sourcing upside at Toshiba (OTC: TOSBF) and Samsung and an increase in 2H09 demand.
  
• Oppenheimer upgraded Quality Systems (NASDAQ: QSII) to Perform from Underperform to reflect potential benefits from the stimulus package and channel checks that indicated IT budgets are stabilizing. The firm raised its target price on shares to $54 from $40.
  
• RBC Capital upgraded OSI Pharmaceuticals (NASDAQ: OSIP) to Outperform from Sector Perform following positive Tarceva survey results and cites valuation.
• Marriott (NYSE: MAR) was upgraded to Outperform from Market Perform at JMP Securities.
  
• Grainger (NYSE: GWW) was upgraded to Buy from Neutral at BofA/Merrill.
  
• Duncan Energy Partners (NASDAQ: DEP) was upgraded to Buy from Neutral at UBS.

Continue reading Analyst upgrades, downgrades and initiations: SNDK, POT, BK, ASIA ...

Analyst upgrades, downgrades and initiations: SNDK, POT, BK, ASIA ... originally appeared on BloggingStocks on Mon, 13 Jul 2009 11:45:00 EST. Please see our terms for use of feeds.

Analyst Upgrades

• Citigroup upgraded Deutsche Bank (NYSE: DB) to Hold from Sell citing reduced legacy risks and strength in the fixed income franchise.
• Janney Montgomery upgraded Fuel Systems (NASDAQ: FSYS) to Buy from Neutral based on valuation, the OEM market in Europe for alternative transportation is growing faster than expected, and the $30M equity raise was smaller than expected.
• Freeport McMoRan (NYSE: FCX) was upgraded to Outperform from Market Perform by FBR Capital. The firm believes that the company will benefit from copper supply issues over the long term, and it thinks the stock has reached an attractive entry point.
• Black & Decker (NYSE: BDK) was upgraded to Neutral from Underperform at Credit Suisse.
• American Tower (NYSE: AMT) was raised to Overweight from Neutral at JPMorgan.
• EMC Corp. (NYSE: EMC) was upgraded at Barclays to Overweight from Equal Weight.

Continue reading Analyst upgrades, downgrades and initiations: BA, DB, EMC, FCX, JCI, VZ ...

Analyst upgrades, downgrades and initiations: BA, DB, EMC, FCX, JCI, VZ ... originally appeared on BloggingStocks on Wed, 24 Jun 2009 11:45:00 EST. Please see our terms for use of feeds.

• Stephens upgraded Old Dominion Freight (NASDAQ: ODFL) to Overweight from Equal Weight to reflect the financial problems at YRC Worldwide (NASDAQ: YRCW), which the firm believes could lead to market share gains. Stephens raised its target on Old Dominion Freight to $40 from $22.
• UBS expects SunPower (NASDAQ: SPWRA) to benefit from the U.S. residential solar segment as investment tax credits come available. The firm upgraded shares to Buy from Neutral and raised its target to $38 from $26.
• KeyBanc upgraded DPL (NYSE: DPL) to Buy from Hold based on valuation and potential upside from the Ohio approval of the rate settlement, 2010 guidance, and potential to use cash flow for accretive purposes.
• Microsoft (NASDAQ: MSFT) was upgraded to Conviction Buy from Buy at Goldman.
• Carnival (NYSE: CCL) was raised to Equal Weight from Underweight at Barclays.
• South Financial Group (NASDAQ: TSFG) was upgraded at SunTrust to Buy from Neutral.

Continue reading Analyst upgrades, downgrades and initiations: CCL, LDK, MSFT, PCLN

Analyst upgrades, downgrades and initiations: CCL, LDK, MSFT, PCLN originally appeared on BloggingStocks on Fri, 19 Jun 2009 11:00:00 EST. Please see our terms for use of feeds.

Intermune (NASDAQ: ITMN) closed at $13.41. ITMN-191/R7128 combination data in January 2009. ITMN's Pirfenidone (inhibits collagen synthesis) data is expected in Q1 of 2009. Robert Baird has a Neutral rating on ITMN. ITMN January option implied volatility is at 189; April is at 175; above its 26-week average of 136 according to Track Data, suggesting larger price movement.

Onyx Pharma (NASDAQ: ONXX), a developer of cancer therapies, closed at $30.09. ONXX was raised to Overweight verses Neutral at JPMorgan. ONXX January option implied volatility of 76 is above its 26-week average of 69 according to Track Data, suggesting larger price movement.

OSI Pharma (NASDAQ: OSIP), a developer of cancer therapies, closed at $33.16. OSIP January option implied volatility is at 78, July is at 60. OSIP average option implied volatility over the last 26-weeks is 67 according to Track Data, suggesting larger near term risk with less outer month risk.

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

Options Update: Intermune volatility elevated into January results (ITMN, ONXX, OSIP) originally appeared on BloggingStocks on Thu, 11 Dec 2008 08:47:00 EST. Please see our terms for use of feeds.

Continue reading Can cancer drugs help pharma sales?

Can cancer drugs help pharma sales? originally appeared on BloggingStocks on Mon, 19 May 2008 15:10:00 EST. Please see our terms for use of feeds.

The medical war on cancer is being waged along several fronts. A biotech outfit in Melville, New York is one of the more successful combatants.

OSI Pharmaceuticals (NASDAQ: OSIP) is a biotechnology company engaged in the discovery, development, and commercialization of pharmaceutical products. Its Traceva compound has been approved by the FDA for treating lung and pancreatic cancer and is being investigated for other applications. Partner Genentech (NYSE: DNA) co-promotes the drug in the United States. OSI and marketing partner Pfizer (NYSE: PFE) sell Macugen, a treatment for the "wet" form of age-related macular degeneration. Novantrone, an anthracenedione, is offered as an intravenous chemotherapy agent. OSI's developmental pipeline includes additional cancer drugs and treatments for diabetes and obesity.

The firm pleased the Street late last month, when it reported Q3 EPS of 59 cents and revenues of $100.4 million. Analysts had been expecting 40 cents and $86.6 million. Lazard Capital subsequently reiterated its "buy" rating on the shares and analysts from JP Morgan and Lehman Brothers issued positive remarks about the prospects for improved Traceva sales. The stock popped on the news and has since been forming a bullish "flag" consolidation pattern. Prices frequently exit flags moving in the same direction they were traveling on entry. In this case, that would be to the upside.

Brokers recommend the issue with three "strong buys," four "buys" and nine "holds." Analysts see a 17% average annual growth rate through the next five years. The OSIP PEG ratio (1.49), Sales Growth rate (76.76%) and EPS Growth rate (-0.23 to +0.59 y/y) compare favorably with industry, sector and S&P 500 averages. Institutional investors hold about 95% of the outstanding shares. Over the past 52 weeks, the stock has traded between $28.68 and $43.43. A stop-loss of $35.70 looks good here.

Larry Schutts is a contributing editor for Theflyonthewall.com and the Vice-President of Stockwinners.com.

OSI Pharmaceuticals (OSIP): Fighting cancer with positive stock originally appeared on BloggingStocks on Wed, 14 Nov 2007 13:55:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Jefferies upgraded Websense (NASDAQ: WBSN) to Hold from Underperform to reflect the strong recent results from SurfControl as well as the possibility for 2H software seasonality.

• Lehman upgraded shares of OSI Pharma (NASDAQ: OSIP) to Overweight from Underweight on valuation as well as expectations for price increases and growth in Europe.

• Susquehanna upgraded shares of Gap (NYSE: GPS) to Positive from Neutral citing management's ability to control costs & manage inventories, share buybacks, and streamlining of organizational structure.
  

• Tiffany & Co (NYSE: TIF) was upgrade to Accumulate from Neutral at Buckingham based on valuation and strong worldwide luxury trends outside of Japan.

• Matrix upgraded shares of Callaway Golf (NYSE: ELY) to Strong Buy from Hold to reflect positive fundamentals and the recent share weakness...

• Valueclick (NASDAQ: VCLK) was upgraded to Buy from Hold at Needham.

• WestLB raised Swisscom (NYSE: SCM) to Add from Hold and Ericsson (NASDAQ: ERIC) to Buy from Hold.

Analyst upgrades: ELY, GPS, TIF and VCLK originally appeared on BloggingStocks on Tue, 28 Aug 2007 10:02:00 EST. Please see our terms for use of feeds.

OSI Pharma (NASDAQ: OSIP) implied volatility of 30 below 26-week average of 38. OSIP develops and commercializes products to improve the quality of life for cancer and diabetes patients. OSIP is recently up .60 to $34.85. Wachovia says "solid earnings growth from unexpected strength of European Tarceva sales and thoughtfully implemented cost controls, we upgrade OSIP to Market Perform from Underperform." OSIP September & October option implied volatility of 30 is below its 26-week average of 38 according to Track Data, suggesting decreasing risks.

Flamel Technologies (NASDAQ: FLML) put volume & volatility Spike on disappointing trial data. FLML, a biopharmaceutical company, is recently down $2.10 to $10.58. Merriman Curhan says "disappointing results for the CASPER trial, a head-to-head study comparing twice daily Coreg IR vs. once-daily Coreg CR, with Coreg CR demonstrating no statistically significant improvement in compliance and/or adverse events relative to Coreg IR." Third Point, an activist hedge fund, announced on 7/16 a 9.2% stake in FLML. FLML September 10 puts have traded 111 times on transaction volume of 2,063 contracts, above its open interest of 137 contracts. FLML September option implied volatility is at 115 above its 26-week average of 57 according to Track Data, suggesting larger risk.

Volatility Index S&P 500 Options-VIX down .21 to 22.68; 10-day moving average is 27.12.

Six trading days in the next eleven days; Options will have no movement during five days.

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

Option update 8-23-07; Time premium Erosion; only six trading days in the next eleven days originally appeared on BloggingStocks on Thu, 23 Aug 2007 17:15:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Both Friedman Billings and Wachovia upgraded Countrywide Financial (NYSE: CFC) to Market Perform from Underperform following the $2 billion investment by the Bank of America (BAC).

• JMP Securities upgraded Toll Brothers (NYSE: TOL) to Market Perform from Underperform and believes the worst news on housing is reflected and that fears over a disappearing jumbo loan market are overblown.

• Matrix upgraded United Parcel Service (NYSE: UPS) to Buy from Hold to reflect strong demand from overseas shipping.

• Wachovia raised OSI Pharma (NASDAQ: OSIP) to Market Perform from Underperform on valuation...

• UBS raised Joy Global (NASDAQ: JOYG) to Buy from Neutral.

• China Netcom (NYSE: CN) was raised to Neutral from Sell at UBS.

• Roth Capital upgraded IMAX Corp (NASDAQ: IMAX) to Buy from Hold.

• WedBush raised InfoSpace (NASDAQ: INSP) to Buy from Hold.

• Tyson Foods (NYSE: TSN) was upgraded to Hold from Sell.

Analyst upgrades 8-23-07: CFC, TOL, TSN and UPS originally appeared on BloggingStocks on Thu, 23 Aug 2007 10:24:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• JP Morgan upgraded shares of Websence (NASDAQ: WBSN) to Overweight from Underweight ahead of the renewal period starting in the December quarter and expects this momentum to drive shares higher.

• RF Micro Devices (NASDAQ: RFMD) was raised to Buy from Hold at Citigroup, who said the Sirenza Microdevices (SMDI) deal gives the company its first real prospect for gross margin expansion in years.

• Matrix USA upgraded Fiserv (NASDAQ: FISV) to Buy from Sell, and expects the company to benefit from the Checkfree (CKFR) acquisition.

• Lehman upgraded shares of Qwest (NYSE: Q) to Overweight from Equal Weight, citing the hiring of industry veteran Ed Mueller as CEO. The firm believes the new CEO removes an overhang and could lead to a change in strategic direction and significantly increase capital spending.

• JP Morgan upgraded OSI Pharma (NASDAQ: OSIP) to Overweight from Underweight based on valuation and upcoming catalysts for Tarceva that should be seen in the next year...

• UBS upgraded Allstate (NYSE: ALL) to Neutral from Sell.

• ThinkEquity raised Hansen Medical (NASDAQ: HNSN) to Buy from Accumulate.

• Stanford upgraded Leap Wireless (NASDAQ: LEAP) to Buy from Hold.

• FTN Midwest upgraded shares of Lexmark (NYSE: LXK) to Neutral from Sell.

• Hambrecht upgraded NetGear (NASDAQ: NTGR) to Buy from Hold.

Analyst upgrades: ALL, LXK, RFMD, Q and WBSN originally appeared on BloggingStocks on Tue, 14 Aug 2007 11:12:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• CIBC considers shares of Burger King Holdings (NYSE: BKC) to still be attractive and has above-consensus estimates, starting shares with an Sector Outperformer rating. The firm believes increased operating hours and breakfast value meals will drive results, while cost savings should help margins.

• JMP Securities believes there is plenty of room for growth at Supertel Hospitality (NASDAQ: SPPR) via acquisitions, leading to strong FFO upside, initiating shares with an Outperform rating and $8 target.

• ThinkEquity sees additional upside for Tarceva and started OSI Pharmaceuticals (NASDAQ: OSIP) with a Buy rating and $50 target.

• AG Edwards believes Brown-Forman (NYSE: BF.B) is well-positioned to benefit from new trends in spirits and wine, starting shares with a Buy rating and $74 target.

• RBC Capital is positive on NGAS Resources' (NASDAQ: NGAS) growth potential and high quality assets, starting shares with an Outperform rating and $11 target...

• CIT Group (NYSE: CIT) was started with a Market Perform rating at Keefe Bruyette.

• Oppenheimer started shares of Watsco, Inc (NYSE: WSO) with a Buy rating.

• ThinkEquity started Coley Pharmaceutical Group, Inc (NASDAQ: COLY) with an Accumulate rating and $10 target.

• Goldman initiated shares of Northwest Airlines Corp (OTC: NWACQ) with a Neutral rating and $26 target.

• Duetsche Bank initiated PPL Corp (NYSE: PPL) with a Buy rating and $51 target.

• Citigroup initiated Comverge, Inc (NASDAQ: COMV) with a Hold rating and $26 target.

Analyst initiations 5-24-07: BKC, NGAS, NWACQ and OSIP originally appeared on BloggingStocks on Thu, 24 May 2007 11:50:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Prudential started Take-Two Interactive Software (NASDAQ: TTWO) with a Neutral rating and $25 target, citing valuation and limited impact from GTA IV for the rating.

• Prudential believes Sony Corp (NYSE: SNE) is well-positioned to benefit from digital media revolution in consumer electronics and that operating margins will continue to improve; Sony was initiated with an Overweight rating and $62 target.

• Cowen views Sun Microsystems' (NASDAQ: SUNW) valuation full and initiated shares with a Neutral rating.

• Pali Capital initiated PetSmart, Inc (NASDAQ: PETM) with a Buy rating and $37 target, room for price optimization as their recent checks suggest that consumers prefer PETM, regardless of price.

• Credit Suisse initiated shares of Constellation Energy Group (NYSE: CEG) with an Outperform rating and $94 target.

• Stifel initiated several stocks in the network technology sector: Juniper Networks, Inc (NASDAQ: JNPR) was initiated with a Buy rating and $23 target, while Acme Packet, Inc (NASDAQ: APKT), Cisco Systems (NASDAQ: CSCO) and Polycom, Inc (NASDAQ: PLCM) were initiated with Hold ratings.

• First Albany initiated NutriSystem (NASDAQ: NTRI) with a Buy rating and $57 target.

• Piper Jaffray started OSI Pharmaceuticals, Inc (NASDAQ: OSIP) with an Outperform rating and $42 target.

Analyst initiations 3-22-07: Take-Two Interactive, Sony Corp & Sun Micro initiated today originally appeared on BloggingStocks on Thu, 22 Mar 2007 11:21:00 EST. Please see our terms for use of feeds.