- Barclays upgraded the Integrated Oil sector to Positive from Neutral citing valuations. Note that Exxon Mobil (NYSE: XOM) was upgraded to Overweight from Equal Weight based on valuation.
- After Force Protection (NASDAQ: FRPT) reported that its 1H08 sales increased more than 200%, Stanford thinks that Force Protection could be poised for several new opportunities in 2009 and they believe the company's risk is already priced into the stock; the firm raised Force Protection to Hold from Sell.
- Cowen expects eHealth (NASDAQ: EHTH) to benefit from the steady decline in employer-sponsored health insurance offered by small businesses and reduced regulatory risk, among other reasons. The firm upgraded shares to Outperform from Neutral.
- Allied Capital (NYSE: ALD) was upgraded to Market Perform from Underperform at BMO Capital.
- Caris upgraded Carmike Cinemas (NASDAQ: CKEC) to Above Average from Average.
- International Flavors & Fragrances (NYSE: IFF) was upgraded to Neutral from Underweight at JP Morgan.
Posts with tag thc
Analyst calls: XOM, PHG, THC, BSX, CCI, ALD . . .
Continue reading Analyst calls: XOM, PHG, THC, BSX, CCI, ALD . . .
Earnings highlights: Toll Bros., Take-Two, Tiffany, Staples, Kraft, Corning and others
Here are some highlights from this past week's earnings coverage from BloggingStocks:
- Boeing Co. (NYSE: BA) earnings prospects may have encouraged the machinist union to strike.
- Ciena Corp. (NASDAQ: CIEN) Q3 results and weak guidance led shares to a new 52-week low.
- Corning Inc. (NYSE: GLW) lowered its Q3 earnings guidance below previous and analysts' forecasts.
- Dollar Financial Corp. (NASDAQ: DLLR) beat Q4 estimates and posted record 2008 results.
- Ericsson Telephone Co. (NASDAQ: ERIC) was downgraded because it could miss Q3 earnings expectations.
- Esterline Technologies (NYSE: ESL) topped Q3 expectations due to robust aerospace and defense markets.
- Joy Global Inc. (NASDAQ: JOYG) posted strong Q3 results due to a sharp increase in orders.
- Kraft Foods Inc. (NYSE: KFT) backed away somewhat from its previous 2008 earnings guidance.
- Legg Mason Inc. (NYSE: LM) earnings prospects for the next several quarters led to an analyst downgrade.
- MEMC Electronic Materials Inc. (NYSE: WFR) mid quarter update warned of declining demand for chips.
- Navistar International Corp. (NYSE: NAV) was upgraded following a strong Q3 report.
- New York Times Co. (NYSE: NYT) ongoing losses haven't diminished Rupert Murdoch's interest in it.
- Nokia Corp. (NYSE: NOK) warned that it would miss earnings estimates due in part to weak sales.
- Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA) better-than-expected Q2 led to an analyst upgrade.
- Staples Inc. (NASDAQ: SPLS) Q2 earnings slipped while revenues rose, beating expectations.
- Take-Two Interactive Software Inc. (NASDAQ: TTWO) Q3 results soared but cut its Q4 guidance.
- Tenet Healthcare Corp. (NYSE: THC) was upgraded on its prospects for beating expectations.
- Terex Corp. (NYSE: TEX) warned that earnings for Q3 and Q4 would be lower than estimates.
- Tiffany & Co. (NYSE: TIF) posted better-than-expected Q2 results and offered full-year guidance.
- Toll Brothers Inc. (NYSE: TOL) reported its fourth straight quarterly loss, but it was smaller than expected.
Also, Jim Cramer discusses a decline in earnings resulting from a collapse of oil and oil services.
Upcoming quarterly reports include Korn/Ferry (NYSE: KFY), Pep Boys (NYSE: PBY), Campbell Soup (NYSE: CPB), Krispy Kreme (NYSE: KKD), and Lululemon Athletica (NASDAQ: LULU).
Analyst calls: BP, HD, SOLR, UTX, X, VOD . . .
- Goldman upgraded shares of BP Plc (NYSE: BP) to Buy from Neutral on valuation as they believe the recent pullback provides an attractive entry point.
- VF Corp. (NYSE: VFC) was raised to Outperform from Neutral at Credit Suisse citing its acquisition platform and international growth. The company's target was increased to $100 from $88.
- Deutsche Bank upgraded shares of Tenet Healthcare (NYSE: THC) to Buy from Hold and increased its target to $8.50 from $7 to reflect increased confidence in the company's ability to beat expectations over the next 12 months and reduce its net debt.
- US Steel (NYSE: X) was raised to Sector Outperformer from Sector Performer at CIBC.
- United Technologies (NYSE: UTX) was upgraded at UBS to Buy from Neutral.
Analyst downgrades:
Continue reading Analyst calls: BP, HD, SOLR, UTX, X, VOD . . .
Worst 10-year performers: Medicare fraud accusations catch up with Tenet Healthcare
In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.
Former hippies might notice that the ticker symbol for Tenet Healthcare Corporation (NYSE: THC) is also the acronym for the active compound in marijuana, but this apparent inattention to detail is likely the least of the company's concerns. When Tenet was formed in 1995, it was born out of a merger between American Medical International and scandal-plagued National Medical Enterprises. Executives at the newly reborn healthcare services company hoped that its new name would help erase any unpleasant investor associations with its previous incarnation.
What went wrong? At number 19 on our list of SPX losers, THC shed 73% of its value during the 10-year period ending June 30, 2008. Prior to a stomach-churning sell-off in the fall of 2002, the shares were entrenched in a near-vertical uptrend that peaked at $52.50. It seems that a seedy healthcare services company by any other name ...
October 2002 marked the stock's peak, as well as the beginning of its steep descent. First, the company reported fiscal first-quarter earnings that surpassed analysts' estimates by 2 cents per share. A few weeks later, Tenet was named co-defendant in a lawsuit filed by the widow of a man who'd accepted an artificial heart, which she alleged "stripped him of his human dignity." This relatively minor suit, worth just $100,000, wouldn't break THC -- but it nonetheless heralded the beginning of the end. Toward the end of the month, the shares tumbled sharply after an analyst downgraded Tenet and warned that it was too dependent on Medicare reimbursements from the government.
Continue reading Worst 10-year performers: Medicare fraud accusations catch up with Tenet Healthcare
Stocks to consider under $10 from CNBC
Dragged down by the challenging market conditions, many stocks have fallen under $10 lately. CNBC's Cindy Perman suggests that some of these stocks could be become good investments for traders. However, not everything that is cheap could be such a good bargain, Perman reminds us. You must always do your homework on potential investment before buying.For example, Ford Motor (NYSE: F) fell down to around $6 compared with $38 nine years ago -- is it a good investment? Well, while the automaker revealed its plans to shift production from trucks to cars and give a boost to its turnaround plan, it also warned it won't be profitable until 2010 at the earliest.
Perman quotes several investment specialists on the matter. John Schloegel, vice president of investment strategies at Capital Cities Asset Management says, "An investment in Ford today feels like being in the wrong place at the wrong time." And Greg Womack, president of Womack Investment Advisers, advices to stay away from the sector, which doesn't look promising now, for the next three to five years to find out the "winner."
Analyst upgrades: BP, THC and BEN
MOST NOTEWORTHY: BP Plc, Tenet Healthcare Franklin Resources were today's noteworthy upgrades:- Lehman upgraded shares of BP Plc (NYSE:BP) to Equal Weight from Underweight on valuation and positive benefits from the company's TNK joint venture in Russia.
- Lehman also upgraded Tenet Healthcare (NYSE:THC) to Overweight from Equal Weight, citing increased confidence the company can meet guidance following the company's analyst day.
- Keefe Bruyette upgraded shares of Franklin Resources (NYSE:BEN) to Outperform from Market Perform as they believe flow trends have improved.
- Goldman added Allied Waste (NYSE:AW) to its Conviction Buy List.
- China Unicom (NYSE:CHU) and China Netcom (NYSE:CN) were raised to Hold from Sell at Deutsche Bank.
- UBS upgraded Ryland (NYSE:RYL) to Buy from Neutral.
Analyst upgrades: Overseas Shipholding, Tenet Healthcare, Luxottica
MOST NOTEWORTHY: Overseas Shipholding, Tenet Healthcare and Luxottica were today's noteworthy upgrades:- Bear upgraded Overseas Shipholding Group (NYSE: OSG) to Outperform from Peer Perform following its Q4 results, citing seasonal strength.
- Tenet Healthcare (NYSE: THC) was upgraded to Hold from Underperform at Jefferies after quarterly operating trends showed signs of stabilization.
- Goldman raised Luxottica Group (NYSE: LUX) to Buy from Neutral and added shares to their Conviction Buy List as they find the valuation attractive at current levels.
- UBS raised Telefonica (NYSE: TEF) to Buy from Neutral.
- Goldman added El Paso Pipeline Partners (NYSE: EPB) to its Conviction Buy List.
- Royal Ahold (OTC: AHONY) was upgraded to Buy from Neutral at Merrill Lynch.
Short interest ticking back up
The raw truth is that this is actually a very small gain of only just over 37,000,000 shares. But it follows what was a large drop from mid-August to mid September as mid-August was in the midst of the market malaise with 12,466,511,521 shares listed as being short. Just at the end of last month I had noted that short selling Internet stocks showed mixed results. There had previously been a large drop in major banking stock short interest, but we also showed how housing and retail stocks had been under short selling pressure.
You can see the full list of the September 28 settlement date short stocks at the site, but here are the top 10 (with short interest):
- iShares Russel 2000 Index (NYSE: IWM) 258,152,676
- Ford Motor (NYSE: F) 177,621,324
- Qwest Communications (NYSE: Q) 84,338,020
- Advanced Micro Devices (NYSE: AMD) 76,350,102
- Countrywide Financial (NYSE: CFC) 76,100,928
- General Electric (NYSE: GE) 65,851,636
- Time Warner Inc. (NYSE: TWX) 64,874,719
- Best Buy (NYSE: BBY) 62,259,216
- Tenet Healthcare (NYSE: THC) 57,387,316
- General Motors (NYSE: GM) 56,515,532
Analyst initiations: CELG, SYY, THC and UHS
MOST NOTEWORTHY: Celgene (CELG), Sysco (SYY), Kinetic Concepts (KCI), BioMimtic Therapeutics (BMTI) and Lifecell Corp (LIFC) were today's noteworthy initiations: - William Blair believes Celgene (NASDAQ: CELG) has the best growth profile in large-cap biotechnology and initiated shares with an Outperform rating.
- Citigroup views Sysco (NYSE: SYY) as the dominant leader in the foodservice distribution industry, initiating shares with a Buy rating, and feels the company will continue to take market share from its peers. The firm thinks the current valuation reflects the perception that Sysco may perform poorly in the near-term, which they disagree with.
- Wachovia started Kinetic Concepts (NYSE: KCI) with a Market Perform, citing competitive pressures and mature markets for its rating.
- Wachovia is positive on BioMimetic Therapeutics (NASDAQ: BMTI), initiating shares with an Outperform, based on strong rhPDGF technology, strategy, and management team.
- Wachovia is positive on Lifecell Corp's (NASDAQ: LIFC) Strattice, a porcine tissue matrix, which improves the company's international exposure and provides opportunities in new markets, initiating shares with an Outperform...
- Credit Suisse initiated Community Health (NYSE: CYH) and Universal Health (NYSE: UHS) with Outperform ratings, LifePoint (NASDAQ: LPNT) with a Neutral rating, and Health Management (NYSE: HMA) and Tenet Healthcare (NYSE: THC) with Underperform ratings.
Analyst upgrades 8-27-07: AMZN, GIS and WFMI
MOST NOTEWORTHY: Amazon.com (AMZN), Luminent Mortgage (LUM), Whole Foods (WFMI), Tenet Healthcare (THC) and Pediatrix Medical (PDX) were today's noteworthy upgrades: - Bernstein upgraded Amazon.com (NASDAQ: AMZN) to Outperform from Market Perform, citing margins on 3rd party transactions that are close to eBay's (EBAY) and that the overseas merchants initiative will increase 3rd party units to 25% of sales. The move is expected to increase operating margins to 6.2% by 2011, above the previously expected improvement of 4.6% by the same time.
- JMP Securities said Luminent Mortgage's (NYSE: LUM) $64.9M emergency financing from Arco Capital may preserve some value for shareholders, and upgraded shares to Market Underperform from Sell.
- JP Morgan added Whole Foods (NASDAQ: WFMI) to its Focus List, and expects the Wild Oats (NASDAQ: OATS) acquisition to be a catalyst for shares.
- Deutsche Bank upgraded Tenet Healthcare (NYSE: THC) to Hold from Sell.
- Matrix USA raised Pediatrix Medical (NYSE: PDX) to Buy from Hold, citing valuation...
- AGL Resources (NYSE: ATG) and Atmos Energy (NYSE: ATO) were upgraded to Buy from Neutral at Calyon.
- Goldman raised O'Reilly Automotive (NASDAQ: ORLY) to Buy from Neutral.
- BMO Capital upgraded General Mills (NYSE: GIS) to Outperform from Market Perform.
Analyst upgrades 8-08-07: BBY, CSCO, THC and WMG
MOST NOTEWORTHY: Cisco Systems (CSCO), Finisar Corp (FNSR), Tenet Healthcare (THC), Best Buy (BBY) and Cascade Corp (CAE) were today's noteworthy upgrades: - Bear Stearns upgraded shares of Cisco Systems (NASDAQ: CSCO) to Outperform from Peer Perform, with a $36 target, after the quarterly results as they believe revenue growth is sustainable and diversified. Bear expects Cisco to benefit from significant new product cycles over the next two years and believes investments in emerging markets are beginning to pay off.
- Merriman upgraded Finisar (NASDAQ: FNSR) to Buy from Neutral to reflect the improved outlook at their top customer, Cisco.
- Tenet Healthcare (NYSE: THC) was upgraded to Hold from Sell at Stifel, as the firm expects shares to remain range bound.
- Pali Capital raised shares of Best Buy (NYSE: BBY) to Buy from Neutral with a $55 target on valuation as they believe the bad news is already priced in.
- Cascade (NYSE: CAE) was upgraded to Market Perform from Underperform at Rodman & Renshaw on valuation.
- Warner Music (NYSE: WMG) was upgraded to Buy from Sell with a $13 target at Citigroup.
- Citigroup also upgraded shares of Copa Holdings (NYSE: CPA) to Buy from Hold with a $71 target.
- Baird upgraded shares of Parkway Properties (NYSE: PKY) to Outperform from Neutral on valuation.
- Computer Sciences (NYSE: CSC) was raised to Hold from Underperform at Jefferies on valuation and improvement in bookings.
Market highlights for next week: Sprint Nextel (S), Cisco (CSCO) to report
Monday August 6- Blue Nile Inc (NASDAQ: NILE) to report Q2 earnings; conference call at 5pm.
- SINA Corporation (NASDAQ: SINA) to report Q2 earnings; conference call at 9pm.
- Tenet Healthcare Corporation (NYSE: THC) to report Q2 earnings; conference call at 11am.
- Cisco Systems Inc (NASDAQ: CSCO) to report Q4 earnings; conference call at 4:30pm.
- Sprint Nextel Corporation (NYSE: S) to report Q2 earnings; conference call at 8am.
- Hot Topic Inc (NASDAQ: HOTT) to report monthly sales at 4pm.
- More monthly sales reports, including: Chicos FAS Inc (NYSE: CHS) at 7:30am; Limited Brands Inc (NYSE: LTD) at 7:30am; Wal-Mart Stores Inc (NYSE: WMT) at 8am; AnnTaylor Stores Corporation (NYSE: ANN) at 8am; and Abercrombie & Fitch Co (NYSE: ANF) at 8:15am.
Analyst initiations 6-21-07: AUXL, LAMR, OPSW and TXRH
MOST NOTEWORTHY: The systems technology sector, Auxilium Pharmaceuticals (AUXL) and BioSante Pharm (BPA) were today's noteworthy initiations: - In the systems technology sector, JP Morgan initiated coverage on CommVault Systems (NASDAQ: CVLT) and Double-Take Software, Inc (NASDAQ: DBTK) with Overweight ratings, Isilon Systems (NASDAQ: ISLN) and Opsware Inc (NASDAQ: OPSW) with Neutral ratings and Avocent Corp (NASDAQ: AVCT) with an Underweight rating.
- Auxilium Pharmaceuticals (NASDAQ: AUXL) was initiated with an Outperform rating at Cowen, which said AUXL's lead candidate, AA4500, is in pivotal testing for Dupuytren's contracture, which could be a $400M+ revenue opportunity.
- BioSante Pharmaceuticals (AMEX: BPA) was initiated with a Positive rating at Susquehanna, as the firm is positive on BPA's growth prospects for the transdermal estrogen market, upside potential from the female dysfunction market, and valuation.
- Morgan Stanley initiated shares of Lamar Advertising (NASDAQ: LAMR) with an Overweight rating and $77 target.
- SunTrust Robinson Humphrey initiated shares of Texas Roadhouse (NASDAQ: TXRH) with a Neutral rating.
- Stifel Nicolaus initiated shares of Tenet Healthcare (NYSE: THC) with a Sell rating and a $5 target.
Analyst downgrades 5-18-07: ADSK, MO, SEPR, THC and VCLK
MOST NOTEWORTHY: Tenet Healthcare Corp (THC), Furniture Brands International, Inc (FBN), Sepracor Inc (SEPR), ValueClick, Inc (VCLK) and Altria Group, Inc (MO) were today's noteworthy downgrades: - Bear Stearns downgraded shares of Tenet Healthcare (NYSE: THC) to Underperform from Peer Peform citing difficulties in California and weak margins.
- Stifel downgraded Furniture Brands (NYSE: FBN) to Sell from Hold citing concerns regarding continued weakness in the housing industry.
- Summer Street downgraded Sepracor (NASDAQ: SEPR) to Sell from Neutral after the HCPCS website indicated Xopenex and Albuterol will have the same code as of July 1.The firm believes this eliminates the optimistic scenarios that Sepracor can garner a minimal-or-no-reimbursement cut.
- RBC downgraded shares of ValueClick (NASDAQ: VCLK) to Underperform from Sector Perform as the firm believes the FTC letter poses a risk to earnings and that the company is unlikely to be acquired.
- Matrix downgraded Altria Group (NYSE: MO) to Buy from Strong Buy to reflect decreasing cigarette sales and increasing valuation...
- American Technology cut Autodesk, Inc (NASDAQ: ADSK) to Neutral from Buy.
- Matrix downgraded Fluor Corp (NYSE: FLR) to Sell from Buy.
- Jackson Hewitt Tax Service (NYSE: JTX) was cut to Market Perform from Outperform at William Blair.
- Baird sent Alliance Data Systems Corp (NYSE: ADS) to Neutral from Outperform.
- Roth Capital downgraded shares of Sonic Solutions (NASDAQ: SNIC) to Hold from Buy.
Analyst downgrade 5-09-07: CSCO, ERTS, MDRX, MVL and THC
MOST NOTEWORTHY: Marvel Entertainment, Inc (MVL), Electronic Arts Inc (ERTS), ION Media Networks Inc (ION), Allscripts Healthcare Solutions, Inc (MDRX) and Tenet Healthcare Corp (THC) were today's noteworthy downgrades: - JP Morgan downgraded Marvel Entertainment (NYSE: MVL) to Neutral from Overweight based on the lack of near-term catalysts.
- Gabelli downgraded Electronic Arts (NASDAQ: ERTS) to Hold from Buy on reduced 2008 expectations. The firm expects Electronic to lose market share given the lack of Q1 product launches.
- CRT downgraded ION Media Networks (AMEX: ION) to Sell from Buy and recommends taking profits at these levels as shares are approaching Citadel LP's offer of $1.46 per share.
- BB&T cut Allscripts Healthcare Solutions, Inc (NASDAQ: MDRX) to Hold from Buy after its weak Q1 report.
- Jefferies downgraded Tenet Healthcare (NYSE: THC) to Underperform from Hold with a $5.50 target to reflect weak volumes.
- Brooks Automation, Inc (NASDAQ: BRKS) was cut to Peer Perform from Outperform at Bear Stearns.
- Prudential downgraded AngloGold Ashanti Ltd (NYSE: AU) to Neutral from Overweight.
- JP Morgan downgraded Jeffries Group, Inc (NYSE: JEF) to Market Perform to Outperform at Keefe Bruyette.
- Pacific Crest cut Cisco Systems, Inc (NASDAQ: CSCO) to Sector Perform from Outperform on valuation.

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