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Newspaper wrap-up: Ventana (VMSI) expected to announce acquisition

MAJOR PAPERS:
  • Barron's Online's (subscription required) "Weekday Trader" called Nucor Corporation (NYSE: NUE), a low-cost steel producer with a 4.7% dividend, a stock worthy of consideration.
  • Royal Dutch Shell (NYSE: RDS.A) and PetroChina Company Limited (NYSE: PTR) have signed a provisional agreement for Shell to sell liquefied natural gas to PetroChina, reported the Wall Street Journal (subscription required).
  • The Financial Times (subscription required) reported that Renaissance Technologies and DE Shaw, two of the biggest quantitative hedge fund managers, are raising money, despite concerns over the poor performance of many computer-driven funds last month.
OTHER PAPERS:

Analyst downgrades 7-23-07: BVF, COP, COSI and RIG

MOST NOTEWORTHY: ConocoPhillips (COP), Transocean (RIG), LifePoint Hospitals (LPNT), EOG Resources (EOG) and Quicksilver Resources (KWK) were today's noteworthy downgrades:
  • Banc of America cut ConocoPhillips (NYSE: COP) to Neutral from Buy on valuation and the lack of upstream catalysts.
  • Deutsche Bank cut Transocean (NYSE: RIG) to Hold from Buy based on the GlobalSantaFe (GSF) merger.
  • Raymond James downgraded LifePoint Hospitals (NASDAQ: LPNT) to Market Perform from Strong Buy following the company's cut in guidance. Merrill Lynch downgraded LifePoint Hospitals to Neutral from Buy.
  • Citigroup downgraded EOG Resources (NYSE: EOG) and Quicksilver Resources (NYSE: KWK) to Sell from Hold as both trade above the sector averages for NAV and cash flow and neither is well protected in the likely event commodity prices deteriorate...
OTHER DOWNGRADES:
  • BMO Capital downgraded Biovail (NYSE: BVF) to Market Perform from Outperform.
  • Wedbush downgraded Cosi Inc (NASDAQ: COSI) to Hold from Buy.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 6-27-07: FFIV, LPSN, SUN, TSO and VLO

MOST NOTEWORTHY: The Mosaic Company (MOS), LivePerson (LPSN) and three U.S. refiners were today's noteworthy downgrades:
  • Stephens downgraded shares of LivePerson Inc (NASDAQ: LPSN) to EqualWeight from Overweight citing execution risk associated with the Kasamba.com acquisition.
OTHER DOWNGRADES:
  • Nuvelo Inc (NASDAQ: NUVO) was cut to Market Perform from Outperform at William Blair.
  • Keefe Bruyette downgraded shares of Cowen Group (NASDAQ: COWN) to Market Perform from Outperform.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 4-13-07: LLL, MRK, NLS and PSUN upgraded today

MOST NOTEWORTHY: Merck & Co (MRK), Intersil Corp (ISIL), Nautilus Group (NLS) and Pacific Sunwear (PSUN) were some of today's more noteworthy upgrades:
  • Merck & Co (NYSE: MRK ) was upgraded to Neutral from Sell at Goldman Sachs to reflect the company's continued revenue strength and raised guidance. They believe strong execution continues.
  • JP Morgan upgraded Intersil Corp NASDAQ: ISIL) to Overweight from Neutral based on improving fundamentals.
  • Matrix USA upgraded shares of Nautilus Group (NYSE: NLS) to Hold from Strong Sell after this week's sell-off.
  • Pacific Sunwear of California (NASDAQ: PSUN) was added to Freidman Billing's Top Picks List, believing the turnaround is taking hold following strong March comps.
OTHER UPGRADES:
  • Goldman added L-3 Communications Hlds (NYSE: LLL) to its Conviction Buy List and raised its target to $105 from $95.
  • McCormick Corp (NYSE: MKC) was upgraded to Outperform from Market Perform at Wachovia citing core performance in both Industrial and Consumer, including a nominal boost in long-term growth outlook.
  • Bear Stearns upgraded shares of Ventana Medical Systems (NASDAQ: VMSI) to Outperform from Peer Perform, citing the company's solid base business outlook and Symphony potential.
  • Piper Jaffray upgraded Ocwen Financial (NYSE: OCN) to Outperform from Market Perform.
  • JP Morgan upgraded TJX Cos (NYSE: TJX) to Neutral from Underweight expecting merchandising initiatives and marketing spending to drive growth.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-18.2910,208.65
NASDAQ-9.302,144.76
S&P 500-3.901,089.18

Last updated: November 10, 2009: 01:47 PM

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