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Analyst initiations: Glu Mobile, USA Technologies, Fulton Financial

Posted Feb 13th 2008 12:20PM by Eric Buscemi (RSS feed)
Filed under: MasterCard Inc'A' (MA), Coca-Cola Enterprises (CCE), Analyst Initiations

MOST NOTEWORTHY: Glu Mobile, USA Technologies and Fulton Financial were today's noteworthy initiations:

Merriman initiated Glu Mobile (NASDAQ: GLUU) with a Buy rating and thinks the valuation already reflects the potential effects of a slowdown in consumer spending. The firm believes shares have the potential to trade to a range of $8-$10.
Merriman also started USA Technologies (NASDAQ: USAT) with a Buy rating. The firm believes the company is uniquely positioned in the wireless machine-to-machine market given its initial traction with Coca-Cola Enterprises (NYSE: CCE) and Mastercard (NYSE: MA) in deploying a cashless payment solution for the beverage vending industry.
B. Riley believes Fulton Financial (NASDAQ: FULT) can return to its legacy of achieving consistent earnings growth with the resolution of the Resource Mortgage tribulations. The firm initiated shares with a Buy rating and $14 target.

OTHER INITIATIONS:

JP Morgan assumed Taser (NASDAQ: TASR) with an Overweight rating.
Calyon initiated Rowan Cos (NYSE: RDC) with an Add rating and $42 target.
Credit Suisse started VisionChina Media (NASDAQ: VISN) with an Outperform rating and $14 target.

Newspaper wrap-up: Nortel open to acquisitions

Posted Aug 3rd 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Blockbuster Inc 'A' (BBI), Nortel Networks (NT), UAL Corp (UAUA)

MAJOR PAPERS:

According to Barron's Online's (subscription required) "Inside Scoop" column, Blockbuster Inc (NYSE: BBI) CEO James Keyes purchased 679,250 class A shares on Monday at an average price of $4.42 per share.
The Financial Times (subscription required) reported that Nortel Networks Corporation (NYSE: NT) is open to acquiring companies.

OTHER PAPERS:

The New York Times reported that British mining company Anglo American plc (NASDAQ: AAUKD) is going to begin the process of selling Tarmac, with possible buyers including Orascom Construction Industries, Lafarge Coppee (NYSE: LR), and Cemex (NYSE: CX).
From BusinessWeek's "Inside Wall Street" column:

UAL Corporation's (NASDAQ: UAUA) stock has soared to around $44 from $21 in February 2007, and Daniel McKenzie of Credit Suisse believes UAL is a potential private equity play.
USA Technologies Inc (NASDAQ: USAT) is the largest maker of the e-port devices that enable vending machines selling soft drinks, snacks, and laundry products to accept plastic, and the company has only begun to penetrate the market, according to CEO George Jensen.
SemBiosys Genetics, which trades in Toronto under the symbol SBS, is developing a way to make insulin from safflower.

USA Technologies: Riding the "cashless" wave

Posted May 9th 2007 9:30AM by Hilary Kramer (RSS feed)
Filed under: Hilary On Stocks

If you often find yourself at your office vending machine without any cash, you should love a company like USA Technologies (NASDAQ: USAT). This Pennsylvania-based company makes network devices to enable non-cash payments -- e.g., using credit cards for vending machines -- as well as remote monitoring and data-reporting devices.

In an automated age when we are increasingly moving away from cash, and using our credit cards more and more often, a company like USAT has enormous potential. Its most recent big announcement will give you a sense of why I like this company so much. Last month, USAT went public with news of a partnership with Mastercard that would enable Mastercard customers to set up their credit cards for use with vending machines, through a wireless, contactless "ePort" technology.

Continue reading USA Technologies: Riding the "cashless" wave