The earnings crunch begins in earnest this coming week, with companies from Johnson & Johnson (NYSE: JNJ) and PepsiCo Inc. (NYSE: PEP) to Southwest Airlines Co. (NYSE: LUV) and Harley-Davidson Inc. (NYSE: HOG) scheduled to report results for the quarter just ended. But with the ongoing turmoil in the markets, much attention is on the tech and financial sectors. This week will provide plenty to mull over on both counts.

Wall Street expectations for tech stocks are fairly optimistic. Analysts surveyed by Thomson Financial are looking for chip maker Altera Corp. (NASDAQ: ALTR) and software/service company iGate Corp. (NASDAQ: IGTE) to be the sector's biggest earnings gainers of the week. Altera is expected to report earnings of 30 cents per share (up 33.3% from a year ago) on revenue of $355.1 million. Altera had previously forecast flat sales for the quarter, and shares fell to a 52-week low last week. iGate is expected to report earnings of 14 cents per share (up 42.9%) on revenue of $55.6 million. India-based iGate recently spun off its Mastech consulting services. Shares are down 45.0% in the past three months, and also reached a new 52-week low last week.

San Jose-based Novellus Systems Inc. (NASDAQ: NVLS), on the other hand, is expected to report that net income tumbled 90.4% from a year ago to 4 cents per share, on revenue of $245.6 million. Novellus fell to a 52-week low early last week, and shares are down 44.5% year to date.

Continue reading The week in preview: Mulling over techs, financials

The week in preview: Mulling over techs, financials originally appeared on BloggingStocks on Sun, 12 Oct 2008 12:30:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Jefferies upgraded RF Micro (NASDAQ:RFMD) to Buy from Hold citing strong proprietary Asian channel checks. The firm believes RF Micro is past the worst of the inventory handset correction in Asia and that the MPG business is also recovering.
  
• RBC Capital said QLT Inc's (NASDAQ:QLTI) risk/reward has improved and expects divestment announcements to start in late Q2. The firm raised shares to Outperform from Sector Perform.
  
• Citigroup upgraded Everest RE (NYSE:RE) to Buy from Hold citing valuation, likely buybacks, the low risk of asbestos charges and the seasonal trade ahead.

• Merriman raised Level 3 Comm (NASDAQ:LVLT) to Neutral from Sell.
  
• Zions Bancorp (NASDAQ:ZION) was upgraded to Outperform from Neutral at Baird.
  
• True Religion (NASDAQ:TRLG) was raised at Morgan Keegan to Outperform from Market Perform.

Analyst upgrades: RFMD, QLT and RE originally appeared on BloggingStocks on Thu, 24 Apr 2008 11:18:00 EST. Please see our terms for use of feeds.

• RBC Capital is positive on Equitable Resources' (NYSE:EQT) Appalachian Basin exposure and valuation. Shares were started with an Outperform rating and $78 target.
  
• Morgan Keegan views Allied Capital's (NYSE:ALD) valuation and outlook as attractive, starting shares with an Outperform rating.
  Credit Suisse assumed Apria Healthcare (NYSE:AHG) with a Neutral rating and $20 target, citing the challenging Medicare backdrop.

• Keefe Bruyette initiated Zions Bancorp (NASDAQ:ZION) with a Market Perform rating and $47 target.
  
• Thomson Reuters (NASDAQ:TRIN) was started with a Sell rating at ABN Amro.
  
• Canaccord Adams initiated Cyberonics (NASDAQ:CYBX) with a Buy rating and $20.50 target.

Analyst initiations: EQT, ALD and AHG originally appeared on BloggingStocks on Thu, 17 Apr 2008 11:19:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Stanford finds shares of Alliance Imaging (NYSE: AIQ) fairly valued and believes the company's transition to providing imaging services to hospitals from mobile imaging equipment to fixed imaging equipment will take at least several years. The firm initiated coverage with a Hold rating.
  
• Calpine (NYSE: CPN) was initiated with a Buy rating and $21.50 target at Jefferies. The firm views Calpine as a low-cost valuation generation company and expects earnings growth from its Western and Texas power plants to drive improved results.
  
• Cowen assumed CommVault (NASDAQ: CVLT) with a Neutral rating and sees limited upside to 2009 estimates due to sales and marketing investments, as well as competition.

• UBS initiated Omrix Biopharm (NASDAQ: OMRI) with a Buy rating and $17 target.
  
• Susquehanna initiated Align Tech (NASDAQ: ALGN) with a Neutral rating.
  
• Zions Bancorp (NASDAQ: ZION) was assumed with a Neutral rating and $13 target at Baird.

Analyst initiations: AIQ, CPN and CVLT originally appeared on BloggingStocks on Thu, 27 Mar 2008 12:45:00 EST. Please see our terms for use of feeds.

• Jefferies downgraded shares of Texas Instruments (NYSE: TXN) to Hold from Buy, as they believe the company's fundamentals are weakening given the worse than anticipated share losses in the wireless segment. Shares were also lowered to Neutral from Overweight at JP Morgan, to Equal Weight from Overweight at Lehman, to Neutral from Outperform at Credit Suisse, and to Neutral from Buy at UBS to reflect the slowdown in the company's wireless growth.
  
• Check Point Software (NASDAQ: CHKP) was downgraded to Hold from Buy at Jefferies on valuation and highlights the difficult spending environment in 1H08 as well as the company's tough comps.
  
• Deutsche Bank downgraded shares of Mobile Mini (NASDAQ: MINI) to Hold from Buy following the company's negative preannouncement.
  
• Oppenheimer lowered Vineyard National Bancorp (NASDAQ: VNBC) to Neutral from Buy to reflect slower pace of balance sheet growth and lower gain-on-sale income estimates.
  
• JMP Securities downgraded TorreyPines (NASDAQ: TPTX) to Market Outperform from Strong Buy and said Tezampanel's lack of dose response and statistically significant pain free response will keep the stock in the "show me" category.

• JP Morgan downgraded ConocoPhillips (NYSE: COP) to Underweight from Neutral and Marathon Oil Corporation (NYSE: MRO) to Neutral from Overweight.
  
• UBS downgraded Zions Bancorporation (NASDAQ: ZION) to Neutral from Buy.
  
• Citigroup downgraded Kellogg Company (NYSE: K) to Hold from Buy.
  
• ThinkEquity downgraded ValueClick (NASDAQ: VCLK) to Source of Funds from Buy.

Analyst downgrade: TXN, CHKP, MINI, VNBC and TPTX originally appeared on BloggingStocks on Tue, 23 Oct 2007 11:30:00 EST. Please see our terms for use of feeds.