Analyst Upgrades

• Citigroup (C) to outperform from market perform at Bernstein.
• Cubist Pharma (CBST) to outperform from neutral at RW Baird.
• Pentair (PNR) to buy from hold at Citigroup.
• Heritage Financial (HFWA) to outperform from market perform at Keefe Bruyette.
• SL Green Realty (SLG) and Digital Realty (DLR) to market perform from underperform at FBR Capital.
• MGM Resorts (MGM) to neutral from Sell at Janney Capital.
• Ciena (CIEN) to buy from neutral and Olin (OLN) to buy from underperform at BofA/Merrill.
• Mellanox (MLNX) to overweight from equal weight at Barclays.
• ConocoPhillips (COP) and Canadian Natural (CNQ) to overweight from neutral at JPMorgan.
• IDEX (IEX) to outperform from perform at Oppenheimer.
• Taiwan Semiconductor (TSM) to buy from hold at Deutsche Bank.
• Ctrip.com (CTRP) to positive from neutral at Susquehanna.
• Linear Technology (LLTC) and Analog Devices (ADI) to hold from sell at Auriga.
• Quicksilver (KWK) to outperform from market perform at BMO Capital.

Continue reading Analyst Calls: ADI, BRCM, C, CIEN, COP, INTC, MGM, OXY, QCOM, TXN ...

Analyst Calls: ADI, BRCM, C, CIEN, COP, INTC, MGM, OXY, QCOM, TXN ... originally appeared on BloggingStocks on Tue, 05 Apr 2011 11:30:00 EST. Please see our terms for use of feeds.

The shares of RF Micro Devices (RFMD), which I first wrote about on March 16, 2010, at a price of $5.03, have retreated from $8.40 to about $6, roughly in-sync with the market's correction. I still like the business model at this stage.

Note: I consider RF Micro to be a high-risk stock unsuitable for low-risk or moderate-risk investors; the stock is not for squeamish investors.

RF Micro is a leading manufacturer of high-performance radio frequency solutions, which are primarily used in cell phones. Other uses include wireless base stations, base stations, LANs, cable TV modems and GPS.

Continue reading RF Micro Devices: A Good Time to Scoop Up Shares?

RF Micro Devices: A Good Time to Scoop Up Shares? originally appeared on BloggingStocks on Tue, 22 Mar 2011 15:00:00 EST. Please see our terms for use of feeds.

Continue reading RF Micro Devices: A Bumpy Uptrend

RF Micro Devices: A Bumpy Uptrend originally appeared on BloggingStocks on Fri, 21 Jan 2011 14:00:00 EST. Please see our terms for use of feeds.

The shares of RF Micro Devices (RFMD), which I first wrote about on March 16, 2010, at a price of $5.03, have rebounded this autumn, after coming dangerously close to the $3 sell/stop loss this summer.

RF Micro is a leading manufacturer of high-performance radio frequency solutions, which are primarily used in cell phones. Other uses include wireless base stations, base stations, LANs, cable TV modems and GPS. Look for FY2011 sales to increase about 10%, after a 10% rise in FY2010. Margins should rise slightly this year.

Note of caution: I consider RF Micro to be a high-risk stock not suitable for low-risk or moderate-risk investors.

Continue reading Is Now a Good Time to Consider RF Micro Devices?

Is Now a Good Time to Consider RF Micro Devices? originally appeared on BloggingStocks on Fri, 22 Oct 2010 12:00:00 EST. Please see our terms for use of feeds.

Continue reading Is Now a Good Time to Consider RF Micro Devices?

Is Now a Good Time to Consider RF Micro Devices? originally appeared on BloggingStocks on Tue, 22 Jun 2010 14:30:00 EST. Please see our terms for use of feeds.

Continue reading RF Micro Devices: Capitalize on the Mobile/Wireless Trend

RF Micro Devices: Capitalize on the Mobile/Wireless Trend originally appeared on BloggingStocks on Tue, 16 Mar 2010 18:00:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• UBS is positive on Genentech Inc's (NYSE: DNA) leading industry franchises and potential upside from development projects and started shares with a Buy rating and $101 target.
  
• HSBC Holdings (NYSE: HBC) was assumed with a Reduce rating at WestLB, as the firm believes subprime concerns may hold back shares in the near-term.
  
• Jefferies initiated shares of SunTech Power Holdings (NYSE: STP) with a Buy rating and $45 target. The firm believes the company is positioned to beat 2007 and 2008 expectations by ramping manufacturing capacity and production faster than expected.
  
• Jefferies also resumed coverage of SunPower Corporation (NASDAQ: SPWR) with a Hold rating and $90 target, citing valuation, but believes the stock's higher multiple is justified given the company's superior growth potential.
  
• Force Protection Inc (NASDAQ: FRPT) was initiated with a Market Perform rating and Friedman Billings, as they believe near-term production expectations are too high given emerging DOD funding issues.

• Lehman started shares of Arcelor Mittal (NYSE: MT) with an Overweight rating.
  
• UBS started shares of RF Micro Devices (NASDAQ: RFMD) with a Neutral rating.
  
• Cowen resumed coverage of Savient Pharmaeuticals Inc (NASDAQ: SVNT) with an Outperform rating.
  
• Morgan Keegan started shares of Heartland Payment Systems Inc (NYSE: HPY) with a Market Perform rating.

Analyst initiations: DNA, HBC, STP, SPWR and FRPT originally appeared on BloggingStocks on Fri, 21 Sep 2007 11:00:00 EST. Please see our terms for use of feeds.

Qualcomm (NASDAQ:QCOM) announced that it has acquired two chip companies, one in the WiFi space and one in Bluetooth. The move would appear to put QCOM in competition with Intel for a piece of the wireless chip business. But why buy the two firms, RF Micro Devices and Airgo, when Intel owns almost the entire market?

Oddly enough, the news comes at the same time that Ericsson signaled that it might have a deal with Qualcomm on Wideband CDMA for third generation cell phones. The two companies have been fighting over the royalties due to Qualcomm for the technology. The battle has gotten so bitter that Ericsson and other cell companies have complained to the European Commission to try to move the issue into the arena of government regulation.

Qualcomm's stock has been battered by concerns over antitrust actions due to the royalties it charges cellular phone makers. The stock is down from $53 in May to about $36 today. There has also been significant concern that new wireless technologies like the WiMax standard supported by Intel, Samung, Motorola, and Sprint could damage Qualcomm's current lock on the broadband cell industry.

It would appear that someone woke up at Qualcomm. The only way to effectively fight WiMax is to make peace with large customers like Ericsson and acquire technology that will allow it to combat Intel on other wireless fronts. Qualcomm may have to give in on the amount it charges firms like Ericsson, but that is better than protracted litigation and losing a large customer completely.

With Intel's huge lead in WiFi and Sprint building a WiMax network in the US, it may be a bit late in the day for Qualcomm to come to its senses. If so, $36 may be a high water market for Qualcomm for some time to come.

Douglas McIntyre is a partner at 24/7 Wall St.

Intel and Qualcomm battle over wireless originally appeared on BloggingStocks on Mon, 04 Dec 2006 11:08:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: Chipotle Mexican Grill (CMG) and Douglas Emmett (DEI) topped today's list of initiations.

• Chipotle Mexican Grill Inc. (NYSE:CMG) was initiated at Morgan Joseph with a Buy and $70 target, citing the restaurant's fast food unit growth, strong revenue growth and attractive valuation.
• Following its recent IPO, Douglas Emmett Inc. (NYSE:DEI) was initiated by several firms: at Merrill Lynch and Bank of America, with Neutral ratings; at A.G. Edwards and Citigroup, with Hold ratings; and at Lehman Bros., an Overweight rating.

OTHER INITIATIONS:

• Credit Suisse initiated Charles Schwab Corp. (NASDAQ:SCHW) with an Outperform rating and $24 target; the firm said Schwab's transformation is complete and growth should be driven by continued asset gathering, expense control and active capital management.
• Cowen started Akamai Technologies Inc. (NASDAQ:AKAM) with an Outperform rating, saying it believes Akamai dominates the CDN and ADN market and expects the company to continue to beat and raise guidance.
• RF Micro Devices Inc. (NASDAQ:RFMD) was initiated with an Underweight rating and Palm Inc. (NASDAQ:PALM) was initiated with an Equal Weight rating at Morgan Stanley.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations 12-4-06: Chipotle Mexican Grill initiated with Buy originally appeared on BloggingStocks on Mon, 04 Dec 2006 10:55:00 EST. Please see our terms for use of feeds.

Stock futures were a little higher on a fair value basis early this morning, pointing to a similar start to stocks.

There are no economic data of note released today. Oil prices were lower as OPEC, worried about the weakening dollar, is leaning towards further production cuts. However, Hugo Chavez claimed reelection was widely expected.

What's really making headlines this morning, a story that's been developing over the weekend, is Pfizer, Inc. (NYSE:PFE). The world's largest drugmaker saw its shares sinking as much as 12% in Frankfurt after it had announced it would halt the development of a key new cholesterol treatment, torcetrapib, due to safety concerns and higher death rates in trials. On the NYSE, some analysts are predicting PFE shares, which have closed at $27.86 on Friday, would plunge to $20.

The other big news item today is the announcement that Bank of New York Co. (NYSE:BK) will merge with Mellon Financial Corp. (NYSE:MEL) creating the world's largest securities servicing and asset management firm -- Bank of New York Mellon Corp. -- with $16.6 trillion under custody. In the announced stock deal, Mellon will pay a premium of about 6.5% over Bank of New York shares, worth $28.4 billion.

In other corporate news:

Qualcomm Inc. (NASDAQ:QCOM) announced it is buying two micro-chip businesses to boost its core wireless technology product offerings. While the deals, to close in December, would be dilutive in 2007, they should be slightly accretive in 2008. Qualcomm is buying the majority of microchip maker RF Micro Devices Inc.'s (NASDAQ:RFMD) Bluetooth assets for $39 million and paying an undisclosed amount of cash to buy privately-owned startup Airgo Networks Inc.

LSI Logic Corp. (NYSE:LSI) announced it will purchase competitor Agere Systems Inc. (NYSE:AGR) for $4 billion in all stock deal.

Finally, on Friday after the bell, Bank of America Corp. (NYSE:BAC) surprisingly announced that Chief Financial Officer Al G. de Molina will resign at the end of the year after only 15 months in the position. He will be succeeded by executive Joe Price.

Before the bell 12-4-06: Pfizer pressures down but banks lift market originally appeared on BloggingStocks on Mon, 04 Dec 2006 07:43:00 EST. Please see our terms for use of feeds.