Despite a weak durable goods figure this morning, despite more woes in Ireland and Portugal, and despite energy rising, the markets managed yet another gain. It is now almost back to 'international markets don't matter' in investor minds despite all of the risks and turmoil.
Here were today's closing bells:
Dow Jones 12,170.56 +84.54 (0.70%)
S&P 500 1,309.66 +12.12 (0.93%)
Nasdaq 2,736.42 +38.12 (1.41%)
sfd posts
FeedClosing Bell: The Rest of the World Doesn't Matter (AMZN, BBY, GME, MU, SFD, TEVA, PG)
Analyst Calls: BAC, BHI, KKR, MU, NE, RHT, SNE, TSN, WMT ...
- Red Hat (RHT) to outperform from neutral at RW Baird.
- Cogdell Spencer (CSA) to buy from hold at Citigroup.
- Micron (MU) to neutral from reduce at Nomura.
- El Paso Electric (EE) to buy from hold at Jefferies.
- MICROS Systems (MCRS) and Harmony Gold (HMY) to outperform from sector perform at RBC Capital.
- Meridian Bioscience (VIVO) to buy from hold at Canaccord.
- Verso Paper (VRS) to outperform from neutral at Credit Suisse.
- Sony (SNE) to buy from hold at Deutsche Bank.
- Noble Corp. (NE) and Baker Hughes (BHI) to buy from neutral at UBS.
- Tyson Foods (TSN) and Smithfield Foods (SFD) to buy from hold at BB&T.
Continue reading Analyst Calls: BAC, BHI, KKR, MU, NE, RHT, SNE, TSN, WMT ...
Analyst Calls: AZN, DG, GSK, NBS, NRGY, NVS, RHT, SFD, STX, TYC ...
- Tyco Electronics (TEL) and Weight Watchers (WTW) to buy from neutral, and Smithfield Foods (SFD) to buy from underperform, at BofA/Merrill.
- Red Hat (RHT) to overweight from equal weight at Morgan Stanley.
- Gold Fields (GFI) to overweight from neutral at HSBC.
- Novartis (NVS) to outperform from neutral and GlaxoSmithKline (GSK) to neutral from underperform at Credit Suisse.
- Dollar General (DG) to buy from hold at ThinkEquity.
- Eagle Rock Energy (EROC) to outperform from sector perform at RBC Capital.
Continue reading Analyst Calls: AZN, DG, GSK, NBS, NRGY, NVS, RHT, SFD, STX, TYC ...
Week in Preview: A Bit of a Breather (AZO, DG, SFD)
After a week full of mixed economic data taking its toll on the markets, things will settle down somewhat this coming week.
- Monday: Fed releases October data on consumer credit outstanding.
- Tuesday: TIPP Economic Optimism Index is due.
- Wednesday: Labor Dept. offers initial jobless claims numbers for last week, EIA's crude oil inventory last week, October wholesale trade numbers from the Census Bureau.
- Friday: Trade balance data for October, Bureau of Labor Statistics releases its Import Price Index for November, preliminary Michigan Consumer Sentiment Index is due, and the Treasury Dept. releases the federal budget balance in November.
Continue reading Week in Preview: A Bit of a Breather (AZO, DG, SFD)
Analyst Calls: ALU, BIG, COST, DGW, DOW, FO, GE, HON, MGM, MYGN, MON ...
- Piper Jaffray upgraded Duoyuan Global Water (DGW) to neutral from underweight, citing the potential for positive fundamental news flow through the end of the year, and upped its price target to $16 from $9.
- Jefferies upgraded Alcatel-Lucent (ALU) to buy from underperform, expecting a benefit from a significant ramp in EVDO software sales as mobile data growth accelerates.
- Myriad Genetics (MYGN) was upgraded at RBC Capital to outperform from sector perform with a $23 price target based on valuation and potential to be acquired.
- Goldman upgraded Mohawk (MHK) to neutral from sell with a $53 price target.
- Smithfield Foods (SFD) was upgraded to outperform from market perform at BMO capital with a $21 target.
- Priceline.com (PCLN) was upgraded to outperform from market perform at Morgan Keegan.
Continue reading Analyst Calls: ALU, BIG, COST, DGW, DOW, FO, GE, HON, MGM, MYGN, MON ...
Smithfield Foods Beats Q1 Earnings Target
Smithfield Foods (SFD - option chain) shares are rising today after the company reported earnings this morning, posting a first-quarter profit of $76.3 million, or 46 cents per share, on revenue of $2.90 billion. Analysts had forecast a profit of 45 cents per share on revenue of $3.04 billion. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on SFD.
SFD opened this morning at $16.75. So far today the stock has hit a low of $16.48 and a high of $17.18. As of 12:20, SFD is trading at $16.74 up 0.44 (2.7%). The chart for SFD looks neutral and S&P gives SFD a neutral 3 STARS (out of 5) hold ranking.
The Week in Preview: Beige Book, Smithfield Foods, Talbots, Men's Wearhouse
The Federal Reserve's next Beige Book report is scheduled to be released this week. This report is a compilation of anecdotal information on current economic conditions from each of the 12 Federal Reserve Bank districts, and it is released eight times a year. The data comes from interviews with business contacts, economists, market experts, and other sources. While the June report showed modest growth across the districts, the July report showed that the economic recovery had slowed, even stalled in some districts.
Other economic data due out this holiday-shortened week include:
Continue reading The Week in Preview: Beige Book, Smithfield Foods, Talbots, Men's Wearhouse
Analyst Calls: ADSK, ATK, BCS, GENZ, H, ROCK, SFD, UL, VIA ...
- Credit Suisse upgraded Alliant Techsystems (ATK) to outperform from neutral following the company's increased FY11 guidance. The firm has an $85 target on the stock.
- FBR Capital upgraded Hyatt Hotels (H) to market perform from underperform following the company's Q2 results. The firm raised its target for shares to $44 from $38.
- BB&T upgraded to Smithfield Foods (SFD) to buy from hold, citing tighter supplies, strong pork prices and improving export demand. The firm has a $19 target on the stock.
- Holly (HOC) was upgraded to outperform from market perform at BMO Capital.
- Cogent Communications (CCOI) was upgraded to outperform from neutral at Cowen.
- Catalyst Health (CHSI) was upgraded to overweight from equal weight at First Analysis.
Continue reading Analyst Calls: ADSK, ATK, BCS, GENZ, H, ROCK, SFD, UL, VIA ...
Smithfield Foods Rises as Possible Takeover Target
Smithfield Foods (SFD - option chain) shares are rising today as rumors have surfaced that the company may be an acquisition target for Brazilian meat titan JBS. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on SFD.SFD opened this morning at $15.60. So far today the stock has hit a low of $15.28 and a high of $16.20. As of 12:15, SFD is trading at $15.34 up 0.46 (3.1%). The chart for SFD looks neutral and S&P gives SFD a neutral 3 STARS (out of 5) hold ranking.
Continue reading Smithfield Foods Rises as Possible Takeover Target
Earnings highlights: AutoZone, Ciena, Costco, FedEx, Krispy Kreme, Kroger, MetLife, 3M ...
Here are some highlights from this past week's earnings coverage on BloggingStocks:
- Advance Auto Parts Inc. (AAP) was downgraded due to concerns about its 2010 earnings outlook.
- Analogic Corp. (ALOG) received an analyst's downgrade after it reported weaker-than-expected earnings.
- AutoZone Inc. (AZO) strong Q1 results beat earnings expectations, but shares rose only a little.
- BWAY Holding Co. (BWY) received an analyst's upgrade following release of its Q4 results.
- Casey's General Stores Inc. (CASY) topped Q2 earnings estimates but lower revenue fell short.
- Ciena Corp. (CIEN) shares plummeted after it fell short of its earnings expectations for Q4.
Smithfield Foods Q2 earnings hurt by lower demand, prices
Hog producer Smithfield Foods (SFD) reported weak second-quarter results Thursday as live hog prices plummeted because of lower export demand, especially from China. The company said weak prices and squeezed margins offset improvements in its pork and packaged-meat businesses.
Smithfield said it lost $26.4 million, or an adjusted 26 cents per share, for the quarter. Sales fell 15% form a year ago to $2.69 billion. Analysts surveyed by Thomson Reuters had expected a loss of 39 cents per share on revenue of $2.71 billion.
Continue reading Smithfield Foods Q2 earnings hurt by lower demand, prices
Smithfield Foods (SFD) Q2 earnings preview
SFD opened this morning at $16.94. So far today the stock has hit a low of $16.83 and a high of $17.27. As of 12:05, SFD is trading at $16.86 up 18 cents (1.1%). The chart for SFD looks bearish and S&P gives SFD a negative 2 STARS (out of 5) sell ranking.
Analyst upgrades, downgrades and initiations: AAPL, BXP, MOT, NOK, S, RBS, TWC ...
- FBR Capital upgraded Boston Properties (BXP) and BioMed Realty Trust (BMR) to outperform from market perform after introducing 2011-2012 estimates for the sector. The firm raised its target on Boston Properties to $74.50 from $70 and on BioMed Realty to $17 from $15.50.
- Citigroup upgraded Sysco (SYY) to buy from hold after its channel checks indicated the company's trends are gradually improving. The firm raised its target on shares to $34 from $28.
- Stephens upgraded Smithfield Foods (SFD) to overweight from equal weight on expectations the company's hog production profitability will improve. The firm raised its target price on shares to $20 from $16.
- Nokia (NOK) was upgraded to market perform from underperform at BMO Capital.
- Suntech (STP) was upgraded to market weight from underweight at Thomas Weisel.
- Forest Oil (FST) was upgraded to equal weight from underweight at Morgan Stanley.
Continue reading Analyst upgrades, downgrades and initiations: AAPL, BXP, MOT, NOK, S, RBS, TWC ...
The week in preview: No turkey earnings from Tyson, Hormel, Cracker Barrel ...
Though the earnings season is winding down, and the coming week includes the Thanksgiving holiday in the U.S., plenty of reports are still due out. And analysts surveyed by Thomson Reuters don't seem to be expecting too many turkeys among this week's bunch.
Leading U.S. meat processor Tyson Foods Inc. (TSN), which has just named a new chief executive officer and a new chief operating officer, is expected to report fiscal fourth-quarter earnings of $0.26 per share, up from $0.14 in the same period of last year. But revenue is expected to total $6.9 billion, or 4.3% less than a year ago. The full-year forecast is for a profit of $0.25 per share (-16.7) on $26.4 billion (-3.9%) in sales. This dividend payer has offered upside surprises in the past two quarters, topping estimates by 11 cents per share in the third quarter.
Continue reading The week in preview: No turkey earnings from Tyson, Hormel, Cracker Barrel ...
Analyst upgrades, downgrades and initiations: ADBE, H, HAL, TOL, TROW, TSN ...
- Citigroup upgraded FPL Group (FPL) to buy from hold on valuation and recommends buying the stock into the staff recommendation. The firm raised its target on shares to $58 from $55.
- Deutsche Bank upgraded Smithfield Foods (SFD) to buy from hold as it believes the company's fundamentals and export demand outlook are improving. The firm raised its target on shares to $20 from $12.
- Credit Suisse upgraded T. Rowe Price (TROW) to outperform from neutral and raised its target to $60 from $55 based on strong net inflows and potential operating leverage.
- Microchip (MCHP) was upgraded to neutral from sell at Goldman.
- Toll Brothers (TOL) was upgraded to outperform from market perform at Wells Fargo.
- Ascent Solar (ASTI) was upgraded to hold from underperform at Jefferies.
Continue reading Analyst upgrades, downgrades and initiations: ADBE, H, HAL, TOL, TROW, TSN ...
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