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Newspaper wrap-up: Boeing temporarily shuts down helicopter production line

MAJOR PAPERS:
  • According to people familiar with American International Group Inc's (NYSE: AIG) board, some directors feel that another big loss in the current quarter could prompt them to re-evaluate their support for CEO Martin Sullivan. The sources said a decision on Sullivan's fate isn't likely to be made until the company sees results over the next several months, the Wall Street Journal reported.
  • The Financial Times reported that Kohlberg Kravis Roberts, The Blackstone Group LP (NYSE: BX) and Apax Partners are among the private equity groups that have been blocked from bidding int he first round of the GBP7B auction of The Royal Bank of Scotland Group Plc's (NYSE: RBS) insurance business.
OTHER PAPERS:
  • The Boeing Company (NYSE: BA) closed a helicopter production line for several hours yesterday due to possible irregularities found in two military helicopters, the Seattle Times reported. The company did not disclose exactly why it shut down the production of the H-47 Chinooks.
WEB SITES:
  • According to Mac Rumors, citing French LeMatin.ch, a source in Swisscom AG (OTC: SCMWY) said Switzerland will be getting the iPhone device from Apple Inc (NASDAQ: AAPL) this summer, and it will feature GPS, Video Conferencing and Mobile TV.

Analyst upgrades: ELY, GPS, TIF and VCLK

MOST NOTEWORTHY: Websense (WBSN), OSI Pharma (OSIP), Gap (GPS), Tiffany & Co (TIF) and Callaway Golf (ELY) were today's more noteworthy upgrades:
  • 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...
OTHER UPGRADES:
  • WestLB raised Swisscom (NYSE: SCM) to Add from Hold and Ericsson (NASDAQ: ERIC) to Buy from Hold.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 6-21-07: AMD, JPM, NVDA, PNRA and SYMC

MOST NOTEWORTHY: JP Morgan Chase (JPM), Symantec (SYMC), Advanced Micro Devices (AMD), Nvidia (NVDA) and SVB Financial Group (SIVB) were today's more notable upgrades:
  • Keefe Bruyette upgraded JP Morgan Chase (NYSE: JPM) to Outperform from Market Perform based on valuation and superior execution.
  • Symantec Corp (NASDAQ: SYMC) was raised to Outperform from Neutral at Baird as they believe integration issues from Veritas (CGV) are behind the company and expectations that shares will benefit from investments made during the past two years.
  • Stifel upgraded Advanced Micro Devices (NYSE: AMD) to Short-Term Trading Buy from Neutral and recommends buying shares of AMD ahead of the Q2 report given market stabilization, the seasonally stronger 2H, and any positive commentary during the call that may be enough to encourage renewed investor interest.
  • Lehman upgraded Nvidia (NASDAQ: NVDA) to Overweight from Equal Weight citing checks that indicate a strong product cycles & shares gains in notebooks, improving seasonal demand, and new product traction.
  • Citigroup upgraded shares of SVB Financial (NASDAQ: SIVB) to Hold from Sell to reflect less earnings volatility due to more later-stage customers and growing funds management...
OTHER UPGRADES:
  • Banc of America upgraded Sybase (NYSE: SY) to Buy from Neutral.
  • Lehman raised Swisscom (NYSE: SCM) to Overweight from Equal Weight.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Newspaper wrap-up 1-16-07: Fidel Castro in "very grave" condition

MAJOR PAPERS:
  • Barron's Magazine (subscription required) highlighted a number of possible M&A targets, along with a few stocks it believes to be undervalued:
    • M&A is expected to continue in Europe: possible large cap targets include Barclays (NYSE: BCS), Deutsche Telekom (NYSE: DT), Deutsche Bank (NYSE: DB), ABN Amro (NYSE: ABN), Volkswagen (OTC: VLKAY), Koninklljke (NYSE: KPN) and Swisscom (NYSE: SCM); possible small-mid cap targets include Hellenic Telecom (NYSE: OTE).
    • There may still be upside in shares of Xerox (NYSE: XRX), says James Benson, a partner and securities analyst at Harris Associates.
    • Shares of YRC Worldwide (NASDAQ: YRCW) may be undervalued by as much as 50%, says Barron's "Bottom Line," which writes that shares could climb above $60.
  • The Wall Street Journal (subscription required) featured an article on Pfizer's new CEO and his strategic plan.
    • Pfizer's (NYSE: PFE) new CEO, Jeffrey B. Kindler, is preparing to detail his strategic vision for the company that will likely involve more job cuts.
    • Hewlett-Packard (NYSE: HPQ) is claiming a nanotechnology research breakthrough that would bring big benefits in performance.
    • According to a Nomura report, Sony Corp (NYSE: SNE) will reach only 75% of its global target for PlayStation 3 sales this fiscal year through March.
  • The New York Times had an article highlighting the possibility of New York funding stem cell research.
    • New York Governor Eliot Spitzer called for the passage of a $2B 10-year bond initiative for research and development, at least half of which would be set aside to pay for stem cell research.
    • Citigroup (NYSE: C) may shorten its name to Citi and drop its umbrella logo.
OTHER PAPERS:
  • The UK Times wrote that Ford (NYSE: F) may have trouble selling its Aston Martin unit after potential buyers found problems in the divisions books while doing due diligence.
  • El Pais wrote that Fidel Castro is in "very grave" condition after three failed operations and complications from an intestinal infection known as diverticulitis.

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DJIA+73.0010,270.47
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S&P 500+6.241,093.48

Last updated: November 14, 2009: 07:31 AM

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