BloggingStocks

Analyst calls: ORLY, DISH, M, KSS, DPS, CRM, LLY ...

Eric Buscemi — 2008-08-20T11:51:00+00:00

Filed under: Analyst upgrades and downgrades, Kohl's Corp (KSS), Yamana Gold (AUY), Amgen Inc (AMGN), Lilly (Eli) (LLY), Analyst initiations, salesforce.com inc (CRM)

Analyst upgrades:

JP Morgan upgraded O'Reilly (NASDAQ: ORLY) to Overweight from Neutral, citing increased demand and CSK acquisition synergies.
Yamana Gold (NYSE: AUY) was raised to Outperform from Sector Perform by RBC Capital, based on valuation and the firm's expectation that gold will rally.
HSBC upgraded KLA-Tencor (NASDAQ: KLAC) to Overweight from Neutral with a $44 target.

Analyst downgrades:

Bernstein dropped DISH Network (NASDAQ: DISH) to Underperform from Market Perform, citing continued weak operations, declining cash flow, and satellite sector headwinds, among other reasons.
Macy's (NYSE: M) was downgraded to Neutral from Buy by Goldman Sachs based on valuation.
Kohl's (NYSE: KSS) was also dropped to Neutral from Buy by Goldman based on valuation.
UBS downgraded Dr Pepper Snapple (NYSE: DPS) to Neutral from Buy based on valuation.

Analyst initiations:

Salesforce.com (NYSE: CRM) was started with a Buy rating by Kaufman Bros., which believes the core on-demand CRM application market is nowhere close to full penetration.
Caris initiated Eli Lilly (NYSE: LLY) with a Below Average rating, citing the company's Zyprexa and Cymbalta patent expirations.
Leerink Swann assumed coverage of Amgen (NASDAQ: AMGN) with an Outperform, as the firm predicts that the company's denosumab will allow the company to substantially increase its earnings starting in 2010.

Permalink | Email this | Linking Blogs | Comments

Before the bell: Futures higher after WMT, ahead of CPI; (AAPL, INTC, MER, GM ...)

Melly Alazraki — 2008-08-14T08:11:00+00:00

Filed under: Before the bell, Earnings reports, Analyst reports, Analyst upgrades and downgrades, Google (GOOG), Apple Inc (AAPL), Wal-Mart (WMT), Intel (INTC), General Motors (GM), Market matters, Merrill Lynch (MER), Amgen Inc (AMGN), Economic data, Oil

Stock futures were higher Thursday morning, as bulls tried to answer to two bear days. Wal-Mart reported this morning, beating estimates and boosting guidance as well as Street sentiment. Still, coming ahead is inflation data at 8:30 a.m. Economists expect CPI to rise 0.4% in July, and could very well impact markets. Meanwhile, oil prices rose and the EU reported that euro-zone economy contracted 0.2% in the second quarter.

Wal-Mart Stores Inc. (NYSE: WMT), the world's largest retailer, reported a second-quarter earnings growth of 17% to of $3.4 billion, or 87 cents a share, beating analyst estimates of profit of 84 cents a share. Revenue rose 10% to $101.6 billion, slightly below estimates. The company also boosted its full-year earnings forecast. The company benefited from the challenging economic conditions as shoppers looked for lower prices. Its cost cutting measures also helped. WMT shares are gaining nearly 1.5% in premarket trading.

As Apple Inc. (NASDAQ: AAPL) shares rose in recent years, many have tracked its progress as it surpassed one major company after another in market capitalization. Well, All Things Digital noticed that Apple can put another check mark, this time as it passed Google Inc. (NASDAQ: GOOG). Yes, Apple is now larger than Google.

Intel Corp. (NASDAQ: INTC) is announcing a new component with new technology that will let computers wake up from their power-saving sleep state when they receive a phone call over the Internet. No longer will computers have to remain full-powered to receive calls, enabling them to act as replacements for the telephone.

While Merrill Lynch & Co. (NYSE: MER)'s CEO John Thain vowed last week to maintain the firm's 35-cent quarterly dividend, the options market doesn't believe him and is pricing a significant cut of roughly 50% to the dividend. If it happens, it would the first since it went public in 1971.

Also battered by recent economic downturn and the slumping U.S. auto market, General Motors Corp. (NYSE: GM) is seeking to speed up the restructuring plan and said it may be able to reap more of the $10 billion in projected savings this year instead of in 2009. GM also had preliminary contact with Russian oligarch Oleg Deripaska on a possible sale of its Hummer brand, according to Reuters.

Analyst calls:

Goldman Sachs added Amgen Inc. (NASDAQ: AMGN) to its Conviction Buy List.
Merrill Lynch downgraded Credit Suisse (NYSE: CS) from Neutral to Sell, citing valuation and the potential for more write-downs.

Permalink | Email this | Linking Blogs | Comments

Amgen (AMGN): Share price defines bullish 'pennant' formation

Larry Schutts — 2008-08-05T10:15:00+00:00

Filed under: Earnings reports, Analyst upgrades and downgrades, Good news, Johnson and Johnson (JNJ), Novartis AG ADS (NVS), Baxter Intl (BAX), Amgen Inc (AMGN), Technical Analysis, Stocks to Buy

Amgen (NASDAQ: AMGN) is a biotechnology firm engaged in the discovery and manufacture of human therapeutics. It markets products in the areas of supportive cancer care, nephrology, inflammation, and metabolic diseases. Principal offerings include anemia treatments Aranesp and Epogen, rheumatoid arthritis drug Enbrel, and white blood cell stimulator Neupogen. Amgen has marketing alliances with Hoffmann-La Roche and Kirin. Baxter International (NYSE: BAX), Johnson & Johnson (NYSE: JNJ) and Novartis (NYSE: NVS) and major competitors.

The company pleased the Street late last month, when it announced Phase 3 trial results showing that its experimental osteoporosis drug significantly reduced the risk of bone fractures in post-menopausal women. As well, the firm reported Q2 EPS of $1.14 and revenues of $3.76 billion. Both measures topped consensus Street estimates ($1.02, $3.58 billion). Management also guided FY08 EPS to $4.25-$4.45 ($4.19 consensus) and FY08 revenues to $14.6-$14.9 billion ($14.42B consensus). Eight brokerages subsequently declared AMGN a "buy" and issued price targets in the range $67-$80.

The stock popped on the news and then moved into a bullish "pennant" consolidation pattern. Prices frequently exit pennants moving in the same direction they were traveling on entry. In this case, that would be to the upside.

Brokers recommend the stock with two "strong buys", eleven "buys" and fifteen "holds". The AMGN Operating Margin (27.45%), Net Profit Margin (21.13%), Return on Assets (9.02%), Return on Investment (10.49%), Revenue per Employee ($846.72k) and Net Income per Employee ($178.91k) compare favorably with industry, sector and S&P 500 averages. Institutions hold about 77% of the outstanding shares. The stock is one of those used to calculate the S&P 100, S&P 500 and Nasdaq 100 Indexes. Over the past 52 weeks, it has traded between $39.16 and $64.00. A stop-loss of $55.20 looks good here.

Larry Schutts is a contributing editor for Theflyonthewall.com and the Vice-President of Stockwinners.com. He does not hold positions in any of the stocks mentioned above.

Permalink | Email this | Linking Blogs | Comments

Analyst calls: AKAM, NT, CHIC, WMG, DE, AMGN, SIRI ...

Eric Buscemi — 2008-08-04T11:30:00+00:00

Filed under: Analyst reports, Analyst upgrades and downgrades, Sirius Satellite Radio (SIRI), Nortel Networks (NT), Genentech Inc (DNA), Amgen Inc (AMGN), Analyst initiations, Deere and Co (DE), Akamai Technologies (AKAM)

Analyst upgrades:

Jefferies upgraded shares of Akamai (NASDAQ: AKAM) to Buy from Hold on valuation, as they see a long-term buying opportunity following the recent correction. The firm maintains a $29 target.
Moody's (NYSE: MCO) was upgraded to Overweight from Underweight at Lehman.
Boyd Gaming (NYSE: BYD) was upgraded to Neutral from Underperform at Merrill Lynch.

Analyst downgrades:

Jefferies downgraded shares of Nortel Networks (NYSE: NT) to Hold from Buy on concerns about the company's ability to hit expectations and drive margin expansion in the face of an eroding CDMA revenue stream. The firm lowered their target to $7.25 from $11.
B. Riley cut Charlotte Russe (NASDAQ: CHIC) to Neutral from Buy on concerns about how well the company can perform with the interim management team, especially in light of the current retail environment. The firm lowered their target to $14 from $17. Roth Capital downgraded shares to Sell from Hold to reflect the management uncertainty and lowered their target to $9 from $14.
Goldman cut Warner Music (NYSE: WMG) to Sell from Neutral and Deere (NYSE: DE) to Neutral from Buy.

Analyst initiations:

Banc of America expects top-line growth at Amgen (NASDAQ: AMGN) to be driven by Denosumab and for investors to look to the stock for biotech exposure following the potential acquisition of Genentech (NYSE: DNA). The firm started shares with a Buy rating and $70 target.
Sirius Satellite (NASDAQ: SIRI) was initiated at JP Morgan with a Neutral rating.

Permalink | Email this | Linking Blogs | Comments

Analyst calls: AMGN, EDS, OVTI, V, MVL, ANF, LULU, URBN ...

Eric Buscemi — 2008-07-29T11:31:00+00:00

Filed under: Analyst upgrades and downgrades, Hewlett-Packard (HPQ), Abercrombie and Fitch (ANF), Electronic Data Systems (EDS), Amgen Inc (AMGN), Analyst initiations, Urban Outfitters (URBN), Marvel Entertainment (MVL)

Analyst upgrades:

Citigroup upgraded shares of Amgen Inc. (NASDAQ: AMGN) to Buy from Hold and raised the target price to $70 from $50 following AMGN's better-than-expected Q2 results and positive Dmab results.
Credit Suisse upgraded Electronic Data Systems (NYSE: EDS) to Neutral from Underperform and expects the Hewlett-Packard (NYSE: HPQ) transaction to close at the $25/share price.

Analyst downgrades:

JP Morgan downgraded OmniVision (NASDAQ: OVTI) to Neutral from Overweight citing slowing growth and increased competition, as well as the impact on margins.
Constellation Energy (NYSE: CEP) was downgraded at Lehman to Equal Weight from Overweight.
International Game Tech (NYSE: IGT) was downgraded to Market Perform from Outperform at Wachovia.

Analyst initiations:

KeyBanc said Visa's (NYSE: V) strengths are its recurring revenue model, significant pricing power, no consumer credit risk, operating leverage, expense flexibility, and considerable free cash flow, among other reasons. The firm initiated shares with a Buy rating and $94 target.
Regal Entertainment (NYSE: RGC) was assumed at Caris with an Average rating and $18 target. The firm sees tough comps ahead for the company and does not expect any meaningful price increases.
Caris also initiated Marvel Entertainment (NYSE: MVL), as they are positive on the company's new financing vehicle. Shares were initiated with a Buy rating and $45 target.
Goldman initiated textile, apparel and footwear stocks. Aeropostale (NYSE: ARO) and Urban Outfitters (NASDAQ: URBN) were initiated with Buy ratings, Lululemon (NASDAQ: LULU) and Abercrombie & Fitch (NYSE: ANF) were started with Neutral ratings and American Eagle (NYSE: AEO) was initiated with a Sell rating.

Permalink | Email this | Linking Blogs | Comments

3 blue chips to watch, the one stock to buy now & car stereos disappearing - Today in Money 7/29

Allan Halprin — 2008-07-29T09:45:00+00:00

Filed under: Cisco Systems (CSCO), Wal-Mart (WMT), Starbucks (SBUX), General Motors (GM), XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), Exxon Mobil (XOM), Sony Corp ADR (SNE), Money and Finance Today, Merrill Lynch (MER), ConocoPhillips (COP), NIKE, Inc'B' (NKE), Alcatel-LucentADS (ALU), Amgen Inc (AMGN), Burlington Northern Santa Fe (BNI)

In the News:

· Merrill Lynch to Sell Bad Assets and Issue New Stock to Raise $8.5 Billion

· U.S. Drivers Drive 9.6 Billion Fewer Miles in May; 3rd Largest Drop in 66 Years

· U.S. Deficit Zooms to Half-Trillion as Bush Leaves Office

· Sony Profit Plunges 50%

· GM Cuts 1,760 More Jobs

· British Airways & Iberia Mull Merger

· Alcatel-Lucent CEO Patricia Russo to Step Down

· Linens 'n Things to Close 30 Fewer Stores Than Announced in May

· Amgen Earnings Surprise to Upside; Stock Rises

· XM & Sirius Merge, Forming Sirius XM Radio

· Starbucks to Close Most of Its Australia Stores By This Weekend

· Retailer Mervyn's to File for Bankruptcy Soon Unless Gets Last-Minute Cash Infusion

3 Blue Chip Stocks to Watch
After nearly a decade, these growth stocks are finally showing some signs of life. They include Wal-Mart, ConocoPhillips and Burlington Northern.
Blue chips: A growth spurt - CNNmoney

The One Stock to Buy Now
We asked eight up-and-coming and top mutual fund managers what one stock they would buy now. Some of their recommendations are household names. Others might surprise you. They include Nike, Cisco, ExxonMobil, Noble Corp., Canon, Valeant Pharmaceuticals, Nalco Holding Co and Cognizant.
The One Stock They Would Buy - Kiplinger

Roadblocks Ahead for Low-Cost Cars
Indian billionaire Ratan N. Tata, chairman of Tata Motors, has captured the imagination of auto executives and consumers with his ambitious plan to launch the world's most inexpensive car. The Tata Nano, unveiled early this year and set to go on sale in October, will have a sticker price of about $2,500. With soaring oil prices and steel prices rising over 40% since Tata announced the Nano in January, it has becoming more difficult for Tata to meet its price target. Can low-cost cars hit the market?
Roadblocks Ahead for Low-Cost Cars - BusinessWeek The Nano: Tata's Costly Promise

Are Car Stereos the Next Thing to Disappear in America?
The iPod generation is taking some of the thump-thump out of car audio sales. This year, spending on aftermarket car stereo systems is expected to slip 28%. The category includes everything from CD changers and speakers to satellite radio.
Car stereo sales hit a distressing low note - USATODAY.com

Cold Case: The Death of Ice Cream Magnate Tom Carval
Tom Carvel's ice cream empire churned up a big estate and a bitter fight over his money. Now a lawsuit asks, was he murdered?
Death of Ice Cream Magnate Carvel - Portfolio.com

'Switch Kits' Make It Easier Than Ever To Change Banks
Today, we are bound to our banks like never before, thanks to direct deposit and automatic bill pay, sweep accounts and CDs, credit and debit cards, and expanded brokerage and insurance products, not to mention online banking. But if you want to change banks it has just gotten much easier thanks to switch kits. With this new tool, even those with multiple ties to their old banks can pack up and head for better (or safer) deals.
'Switch kits' help depositors jump ship -Bankrate.com

World's Most Expensive Cups of Coffee
Lenin must be rolling over in his grave. Just 17 years after the collapse of the Soviet Union, the one-time capital of communism is now home to the world's most expensive cup of coffee. The average cup of joe in Moscow is $10.19. Other cities with a pricey cup of joe include Paris at $6.77, Athens at $6.62 and Beijing at $6.28.
World's Most Expensive Cups Of Coffee - Forbes.com

Youngest Female Billionaires
This elite club includes the world's richest author, Barack Obama's finance chief, former factory workers and two 20-something heiresses.
The World's Youngest Women Billionaires - Forbes.com

Permalink | Email this | Linking Blogs | Comments

Before the bell: MER, CL, BP, AAPL, SAP, ALU, AMGN, SBUX, SNE,

Melly Alazraki — 2008-07-29T08:12:00+00:00

Filed under: Before the bell, Earnings reports, Analyst reports, Analyst upgrades and downgrades, Apple Inc (AAPL), Starbucks (SBUX), Market matters, Viacom (VIA), Sony Corp ADR (SNE), Merrill Lynch (MER), Colgate-Palmolive (CL), Coach Inc (COH), Research in Motion (RIMM), BP p.l.c. ADS (BP), Alcatel-LucentADS (ALU), U.S. Steel (X), Amgen Inc (AMGN), Electronic Arts (ERTS), Valero Energy (VLO), Economic data, Northrop Grumman (NOC)

After a day that saw U.S. equity markets decline in the neighborhood of 2%, U.S. stock futures earlier this morning pointed to a rough start Tuesday as well. News late Monday the Merrill Lynch said it's selling a big slice of its asset-backed securities and $8.5 billion in stock, renewed concerns over the financial sector health. But futures have started creeping upward, ahead of the latest readings on house prices with the Case-Shiller home price index for May and Conference Board reading of consumer confidence for July.

Meanwhile, we're still in the middle of earnings season and today

Colgate Palmolive (NYSE: CL) - Colgate-Palmolive 2Q profit rises 19%,
BP (NYSE: BP) - BP's Second-Quarter Profit Rises on Record Oil Prices - shares are over 2% higher in premarket trading
Coach (NYSE: COH) - Weaker dollar helps Coach 4th-quarter results
Northrop Grumman (NYSE: NOC), Viacom (NYSE: VIA), Valero Energy Corp. (NYSE: VLO), United States Steel Corp. (NYSE: X)
Electronic Arts (NASDAQ: ERTS) will report after the close of tradin

The big story making headlines since late Monday is the bombshell Merrill Lynch (NYSE: MER) that it is taking an enormous $5.7 billion write-down on losses from mortgage-backed securities (MBSs) and plans to raise $8.5 billion. MER shares already dropped 11.6% Monday before the news was out, and while they're rebounding 2.75% this morning, many are very uncomfortable with Merrill's current situation and actions.

Alcatel-Lucent (NYSE: ALU), the French telecommunications giant, is finally getting rid of its CEO Patricia Russo and Chairman Serge Tchuruk who will both resign later this year. It's no surprise shares are rebounding over 6% in premarket trading. ALU also reported its sixth consecutive quarter of losses. Alcatel-Lucent reported a net loss of 1.1 billion euros ($1.73 billion) for the second quarter including an euro810 million ($1.3 billion) goodwill writedown.

Amgen Inc. (NASDAQ: AMGN) is rising over 4% in premarket trading after closing over 12% higher Monday. Amgen said Monday results for its denosumab osteoporosis drug met desired results and reported better-than expected earnings and sales (across the board). Citigroup upgraded AMGN from Hold to Buy, while Oppenheimer raised target price.

Sony Corp. (NYSE: SNE) said Tuesday its quarterly profit plunged to 34.98 billion yen ($326.9 million), about half that recorded a year ago, due to a strong yen, the absence of a hit movie revenue and declining results at its cell phone operations. Nevertheless, results beat estimates.

Starbucks Corp. (NASDAQ: SBUX) said Tuesday it plans to close 61 Australian stores and shed 685 jobs by Aug. 3 as part of a restructure of its struggling Australian business.

SAP (NYSE: SAP) shares are climbing over 7% in premarket trading after the German business software reported stronger-than-forecast license sales and optimistic annual sales guidance. Deutsche Securities and Jefferies & Co. both raised SAP shares from Hold to Buy.

In Apple (NASDAQ: AAPL) news, W.R. Hambrecht analyst Matthew Kather on Monday raised his price target on Apple stock to $257 a share from $238, saying he expects Apple's stock to outperform the broader tech market due to the the outlook for Macintosh PC and iPhone sales.

That's great for Apple, but how would that affect Research in Motion (NASDAQ: RIMM)? The pressure from the 3G iPhone is worrying investors while rumors on problems RIMM has with its touchscreen phone, which the company has never even officially announced, are also putting pressure on the stock.

Permalink | Email this | Linking Blogs | Comments

Amgen continues its upward climb: Promising study and good results!

Melly Alazraki — 2008-07-28T18:40:00+00:00

Filed under: Major movement, Earnings reports, Analyst reports, Analyst upgrades and downgrades, Forecasts, Consumer experience, Competitive strategy, Amgen Inc (AMGN)

Amgen Inc. (NASDAQ: AMGN) is having a really good day today. Its shares closed up 12.17% to $60.48 (on a day markets were down in the neighborhood of 2%) after it said late Friday a study on denosumab, a bone-strengthening drug, met its desired results and showed statistically significant improvements over a placebo.

Amgen shares rocketed 17% at some point as denosumab has the potential to become a blockbuster drug, especially with women with postmenopausal osteoporosis, a market that could represent $8 billion and $10 billion by 2010. The strong study results also improve the drug's chances with FDA approval. Analysts just loved the results of the study (although the details won't be out until September), upgrading the shares and their target prices.

To top it off, Amgen reported second-quarter financial results after the close, beating analyst estimates. The biotechnology giant recorded net income of $941 million, or 87 cents a share, lower than last year's period, but excluding acquisition-related and stock-compensation costs, earnings rose to $1.14 a share from $1.13. Revenue rose 1% to $3.76 billion. Analysts forecast profit of $1.02 per share on revenue of $3.58 billion, according to a survey by Thomson Financial. Looking ahead, Amgen raised both its earnings and revenue guidance higher than what Wall Street expected. Analysts, in general, liked these results too.

Not all has been rosy with Amgen lately, as the sales of Aranesp, its anemia treatment and what is considered Amgen's most important product, show. Aranesp sales declined 13% on safety concerns. Sales of Epogen, the older treatment, also declined somewhat. Still the sales of both beat estimates.

Amgen's stock has already been punished for the Aranesp concerns throughout 2007, and has been recovering since, today hitting a 52-week high. Amgen showed better-than-expected sales across all products, even its under-scrutiny anemia drugs; it showed it's not resting and that it can and will recover. Combine that with the strong clinical trial results for denosumab, and the potential is great.

Amgen shares are up about 2.8% in after-hours trading to $62.15.

Permalink | Email this | Linking Blogs | Comments

Analyst calls: AMGN, BBY, KMB, DKS, RYAAY ...

Eric Buscemi — 2008-07-28T11:11:00+00:00

Filed under: Analyst upgrades and downgrades, Best Buy (BBY), Kimberly-Clark (KMB), Amgen Inc (AMGN), Analyst initiations

Analyst upgrades

Rodman & Renshaw upgraded shares of Amgen (NASDAQ: AMGN) to Outperform from Market Perform following the positive top line results from the FREEDOM study. The firm established an $80 target. Jefferies upgraded shares to Buy from Hold following the positive top-line efficacy and safety results for Denosumab in PMO as they view it as a "big win." The firm raised their target to $71 from $47.
Best Buy (NYSE: BBY) was upgraded to Buy from Neutral at Banc of America.
Goldman upgraded Kimberly Clark (NYSE: KMB) to Neutral from Sell and Dick's Sporting Good (NYSE: DKS) to Buy from Neutral.
Rowan Companies (NYSE: RDC) was lifted at JP Morgan to Neutral from Underweight.

Analyst downgrades:

Jesup & Lamont downgraded shares of Moog (NYSE: MOG.A) to Neutral from Buy on concerns of the company's high rate of R&D and its relative valuation. Keefe Bruyette downgraded shares of Federated Investors to Market Perform from Outperform following the company's lower than expected Q2 results and cut their target to $35.
Ryanair (NASDAQ: RYAAY) was cut to Hold from Buy at Citigroup.

Analyst initiations:

Morgan Joseph believes Amgen (NASDAQ: AMGN)'s positive FREEDOM trial results will have a profound and lasting impact on the company's growth but also on its scientific credibility. The firm initiated coverage with a Buy rating and $77 target.
Piper assumed Ctrip.com (NASDAQ: CTRP) with a Neutral rating and Epicor Software (NASDAQ: EPIC) with a Buy rating and $8 target.
Banc of America initiated Britannia Bulk (NYSE: DWT) with a Buy rating and $19 target.

Permalink | Email this | Linking Blogs | Comments

Before the bell: KFT, VZ, AMGN, UL, MOT, SIRI, RYAAY, LEH ...

Melly Alazraki — 2008-07-28T08:16:00+00:00

Filed under: Before the bell, Earnings reports, Analyst reports, Analyst upgrades and downgrades, Deals, Google (GOOG), Apple Inc (AAPL), Motorola (MOT), XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), Market matters, Verizon Communications (VZ), Amgen Inc (AMGN), iPhone, Economic data, Kraft Foods'A' (KFT), Unilever ADR (UL), Lehman Br Holdings (LEH)

U.S. stock futures were lower early Monday as investors concerns over the banking sector grew. Federal regulator seized two more banks, 1st National Bank of Nevada and First Heritage Bank, which were scheduled to reopen on Monday as Mutual of Omaha Bank branches. The Senate also passed a major housing bill over the weekend, and this could actually give a boost to mortgage lenders like Fannie (NYSE: FNM). Meanwhile, oil prices rebounded as European markets declined. As of 8:00 a.m., it seems Wall Street would start weak.

Reporting earnings today are Kraft Foods (NYSE: KFT) - Kraft reported 58 cents earnings per share excluding items, beating estimates of 50 cents; Verizon Communications (NYSE: VZ) - Verizon reported earnings of 67 cents per share, excluding items, beating estimates by 2 cents; and after the close of trading, Amgen (NASDAQ: AMGN).

Amgen (NASDAQ: AMGN) stock is jumping over 17% in premarket trading after announcing late Friday its experimental osteoporosis drug, denosumab, significantly reduced the risk of bone fracture in post-menopausal women in a large trial. Rodman & Renshaw and Jefferies & Co both upgraded Amgen to Market Outperform and to Buy respectively.

Unilever NV (NYSE: UL) will sell its North American laundry detergents business to private equity investor Vestar Capital Partners for $1.45 billion (euro924 million). Unilever said the sale consistent with its strategy of divesting non-core businesses and concentrating on a few core ones.

Motorola Inc. (NYSE: MOT) will reorganize its home and networks mobility unit -- its second largest -- by splitting it into three separate businesses. This could facilitate future sales should Motorola tries to divest any business units.

Private equity firm Kohlberg Kravis Roberts & Co. will go public on the New York Stock Exchange through a takeover of its Amsterdam-listed investment fund KKR Private Equity Investors LP. The original plan for a $1.25 billion initial public offering didn't pan out due to credit market turmoil.

Sirius Satellite Radio Inc. (NASDAQ: SIRI) shares are gaining over 1.5% in premarket after announcing preliminary results. It said it expects its adjusted loss during the second quarter to narrow to $24 million from $79 million as revenue rose 25% to $283 million. Sirius said it's planning to sell $375 million of its own stock and up to $65 million more from time to time. Only a few days ago the FCC has finally approved the merger of Sirius with XM Satellite Radio Holdings Inc. (NASDAQ: XMSR), in which Sirius would take over XM.

Ryanair Holdings (NASDAQ: RYAAY) dropped as much as 26% after it reported a surprising 85% drop in first-quarter profit on Monday, citing the high cost of fuel and recessionary fears. It also warned it could post its first-ever annual loss.

According to The Wall Street Journal, the Securities and Exchange Commission is probing four rumors regarding Lehman Brothers (NYSE: LEH).

Could Cuil be the search engine that threatens Google Inc. (NASDAQ: GOOG)? Cuil Inc. is a startup founded by engineers from Google and other tech giants. Cuil is said to cover three times as many Web pages as Google and aims to deliver better results than other major search engines. The site's results page resembles an online magazine.

The USA Today says Apple Inc. (NASDAQ: AAPL) is "experiencing serious Microsoft-type growing pains with its launch of the new iPhone that went on sale two weeks ago." The problems it lists include not enough supply to satisfy demand and a longer procedure to activate the phone.

Permalink | Email this | Linking Blogs | Comments

Cramer on BloggingStocks: Genentech bid confirms the trend

Jim Cramer — 2008-07-21T09:09:00+00:00

Filed under: Deals, Market matters, Anheuser-Busch Cos (BUD), Research in Motion (RIMM), Genentech Inc (DNA), Amgen Inc (AMGN), Gilead Sciences (GILD), Stocks to Buy, Cramer on BloggingStocks

TheStreet.com's Jim Cramer says the biotechs look sweet in a bank-led slowdown.

Thank you, New York Times. Remember just a couple of weeks ago, when The New York Times wrote about how Genentech's (NYSE: DNA) (Cramer's Take) Avastin was too expensive and the stock got cracked down to $77? I know Roche did. I bet that was the last draw. The dramatic decline in the dollar plus a sentiment that has spawned a thousand articles -- that life-saving drugs cost too much -- gave the Swiss giant a chance to bolster its own anemic pipeline by buying what may be the greatest wonder drug of all time in its $43 billion bid, no doubt the beginning price for what will ultimately be a deal close to $100 a share. (I pushed DNA hard here and on "Mad Money" because I have been a huge believer in Avastin and I'm confident that people will pay anything -- or family members will pay anything -- for the hope of three or four months or more of life, or the chance of beating cancer altogether.)

I don't even know where to begin about the positives of this deal. First, it confirms the general trend: the dollar is so weak that it is worth buying anything that's name-brand if you are from Europe, including Anheuser-Busch (NYSE: BUD) (Cramer's Take), a total creature of the weak dollar.

It confirms a second trend that the biotechs are the best buys when it comes to a bank-led slowdown. Just like in 1990, the biotechs -- then led by Amgen (NASDAQ: AMGN) (Cramer's Take) -- produced spectacular results as their earnings shined in the face a collapse in the financials. I bought Gilead (NASDAQ: GILD) (Cramer's Take) on Friday for Action Alerts PLUS with the trashing it endured because it spent too much -- consider it the Research In Motion (NASDAQ: RIMM) (Cramer's Take) of the group. Amgen, coincidentally, has been rallying on a better reimbursement environment from the new Medicare bill, an adjunct to DaVita's (NYSE: DVA) (Cramer's Take) boost. Don't forget that the whole group is running, including Biogen (NASDAQ: BIIB) (Cramer's Take), as the B section of the Journal shows, and Cephalon (NASDAQ: CEPH) (Cramer's Take), which seems like nothing but net lately.

Finally, there is the sentiment issue. Every time the press has hit something during this abominable era, it has struck pay dirt. The negativity surrounding DNA was so great that even when it reported better-than-expected earnings, the stock took a hit initially until people realized that Avastin really was growing again. The group is hot, it makes sense, and it should be examined closely as a continual source of gains as we worry about sagging banks and reduced earnings from one of the largest sectors in the market (finance, health care, tech, oil really define this market now).

-------------------------------
RELATED LINKS:
Roche Bids for Rest of Genentech
Feuerstein's Biotech-Stock Mailbag: Synta
-------------------------------

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer was long Gilead Sciences.

Permalink | Email this | Linking Blogs | Comments

Expanded beef recall, Braille coin unveiled - Today in Money 7/3

Beth Pinsker — 2008-07-03T12:27:00+00:00

Filed under: Walt Disney (DIS), Kroger Co (KR), Amgen Inc (AMGN), AMR Corp (AMR), Marvel Entertainment (MVL)

In the News:

· American to Cut Nearly 7,000 Jobs

· American, Iberia, BA Plan Joint Venture

· Employers Cut Jobs for Sixth Month
· Braille Stamped Silver Dollar Unveiled
· Kroger Expands Beef Recall to 20 States
· Oil Prices Retreat After Nearing $146
· Latest suspect in salmonella outbreak: Fresh salsa
· German teddy bear firm brings production back from China
· Business-School Test Maker Seeks Web Cheaters

Six Companies with Amazing Employee Benefits
Want to know which company offers health insurance to part-timers? Or perhaps are you more interested in a generous discount on jelly beans? When it comes to some of the best benefit packages in the business, MainStreet names names!

Ruined by 401(k) Predators
Retirees with plump nest eggs can be targets for unscrupulous financial advisers who rake in hefty fees with promises of huge returns

Keeping credit score high takes effort
You can bring your credit score down in many ways. Here are tips to avoid the pitfalls.

A dozen ways to get a down payment
Remember down payments? They're back in vogue with home lenders. Here's what you can do to come up with the cash.

The New Superhero in Town
Tinseltown has long led comic book characters from page to silver screen. But now Marvel, with its new movie studio, is reclaiming its superheroes for the big screen. Is Marvel the next Magic Kingdom?

The World According To ... Gene Simmons
Sure, he wants to rock and roll all night and make money every day. But the Kiss frontman also has plenty to say about music downloads, sex, politics, and Warren Buffett.

The Quarter-Life Retirement Plan
You just started working, but it's never too early to dream about when you can quit -- for good. Here's your guide to making it happen.

Five Ways to Unload Your SUV
How to quickly unload your gas guzzler without taking too much of a financial hit.

Marriage's Financial Pros and Cons
Should you tie the knot?

Permalink | Email this | Linking Blogs | Comments

Closing Bell: Bulls overcome a weak FOMC commentary, barely

Jon Ogg — 2008-06-25T16:16:00+00:00

Filed under: After the bell, Major movement, MasterCard Inc'A' (MA), Amgen Inc (AMGN)

Today was a coin toss going into the FOMC meeting, and even after the meeting. The market could have gone either way today when the Federal Reserve said it is hoping inflation to come down later in the year and that it isn't that hawkish on inflation versus growth. Traders took the stance that rates will not be running rampantly higher by the end of summer. The other news on the economic front didn't inspire much either, as new home sales and prices in may continued their decline. Oil prices fell at one point more than $4.00 per barrel after an increase in inventory levels.

Below are the unofficial closing levels for today:

DJIA 11816.63 (+9.20)
S&P500 1322.36 (+8.07)
NASDAQ 2400.89 (+32.61)
10YR T-Note 4.115% (+0.01%)
52-Week Lows
Top 10 Analyst Calls

NASDAQ short interest came out today and showing marked bets against technology and more bets against solar power stocks.

Amgen Inc. (NASDAQ: AMGN) saw a rise despite the short selling interest with bets against the company having risen by more than 100% to 48.4+ million shares as of June 13. Shares were up 1.3% at $46.98 in today's final minutes.

MasterCard Inc. (NYSE: MA) was still up over 4% at $292.29 in today's final minutes after the company announced it had settled its AmEx litigation early this morning.

Petroleo Brasileiro (NYSE: PBR), or PetroBras, came on strong at the end of the day after Ken Heebner of CGM Funds appeared on CNBC today, keeping his stance as PBR being the single best idea out there. Shares were up 4.4% at $69.05 in the final minutes today.

Sonic Corp. (NASDAQ: SONC) was a big loser after the company's earnings warning took shares to a new 52-week low. Its stock was down almost 12% at $14.57 in today's final minutes.

Permalink | Email this | Linking Blogs | Comments

IHS Inc. (IHS): Shares price forming bullish 'pennant'

Larry Schutts — 2008-06-23T12:00:00+00:00

Filed under: Earnings reports, Boeing Co (BA), duPont(E.I.)deNemours (DD), Amgen Inc (AMGN), Technical Analysis, Stocks to Buy

IHS Inc. (NYSE: IHS) provides documents, decision-support tools and related services to customers in a variety of technical fields. The firm's Energy division delivers oil and gas data on exploration, development, production, and transportation activities to energy producers and oil companies. Its Engineering division provides technical specifications and standards, regulations, parts data, design guides and other information to customers in the defense, aerospace, construction, energy, electronics and automotive industries. Customers include Amgen (NASDAQ: AMGN), Boeing (NYSE: BA) and DuPont (NYSE: DD).

The company surprised the Street last week, when it reported Q2 EPS of 46 cents and revenues of $207.2 million. Analysts had been expecting 44 cents and $200.5 million. According to the CFO, the underlying subscription-based business continued to perform very well, helping to generate top-line growth, margin expansion and a record quarterly cash flow from operations. As a result, the firm was able to re-pay money borrowed at the start of Q2 for three March acquisitions. Management also guided FY08 revenues to about $833.0-$846.7 million, versus consensus of $842.80 million.

Brokers recommend the issue with three "strong buys" and four "buys". Analysts see a 22% growth rate, through the next year. The IHS Price to Book ratio (4.76), Price to Free Cash Flow ratio (27.04), Sales Growth rate (33.76%), EPS Growth rate (43.75%) and Net Profit Margin (11.51%) compare favorably with industry, sector and S&P 500 averages. Institutions hold about 75% of the outstanding shares. Over the past 52 weeks, the stock has traded between $44.08 and $72.19. A stop-loss of $59.90 looks good here.

Larry Schutts is a contributing editor for Theflyonthewall.com and the Vice-President of Stockwinners.com. He does not hold positions in any of the stocks mentioned above.

Permalink | Email this | Linking Blogs | Comments

Early analyst calls (UBS) (AAPL) (AMGN)

Douglas McIntyre — 2008-06-19T07:24:00+00:00

Filed under: Before the bell, Analyst upgrades and downgrades, Apple Inc (AAPL), Amgen Inc (AMGN)

Credit Suisse downgraded UBS (NYSE:UBS) to "neutral" from "outperform" according to MarketWatch.

Citi Investment Research reaffirmed its "sell" raging on Evergreen Solar (NASDAQ:ELSR) ahead of the company's analyst meeting, according to the AP.

ThinkPanmure starts coverage of Apple (NASDAQ:AAPL) with a "buy" rating, according to Briefing.com.

Deutsche Bank initiates coverage of Amgen (NASDAQ:AMGN) with a "buy" and sets a price target of $52.

American International Group (NYSE:AIG) was raised to "buy" at Citigroup, according to Briefing.com.

Read | Permalink | Email this | Linking Blogs | Comments

Short sellers letting up in biotechs

Jon Ogg — 2008-06-11T16:30:00+00:00

Filed under: Amgen Inc (AMGN), Gilead Sciences (GILD), ImClone Systems (IMCL)

Short selling often tells much about what is going on in a sector, particularly when there is a common trend across the major players in that sector.

The end of May short selling can now be accessed from NASDAQ. Interestingly enough, short sellers at the end of May lightened up almost across the board on major NASDAQ biotech stocks from May 15 to May 30:

STOCK (Ticker)	MAY 30	MAY 15	CHANGE
Amgen Inc. (NASDAQ: AMGN)	22,678,517	24,778,770	-8.48%
Biogen Idec Inc. (NASDAQ: BIIB)	6,346,464	6,788,432	-6.51%
Celgene Corporation (NASDAQ: CELG)	13,775,373	16,336,232	-15.68%
Gilead Sciences, Inc. (NASDAQ: GILD)	32,478,444	32,690,603	-0.65%
ImClone Systems Inc. (NASDAQ: IMCL)	7,149,395	7,664,009	-6.71%

From the major names, a change in the overall trend can be spotted.

You can see the full short selling report for biotechs at BioHealthinvestor.com to see which other biotechs had an increase in short selling and to also see what the more active biotechs with lower market caps saw in their short selling activity.

Permalink | Email this | Linking Blogs | Comments

Can cancer drugs help pharma sales?

Melly Alazraki — 2008-05-19T15:10:00+00:00

Filed under: Pfizer (PFE), Novartis AG ADS (NVS), Bristol-Myers Squibb (BMY), Merck and Co (MRK), Genentech Inc (DNA), Amgen Inc (AMGN), Lilly (Eli) (LLY), ImClone Systems (IMCL)

Almost everyone these days has encountered cancer in one way or another. While the rate of cancer incidence has stabilized to declined since the early 1990s and, with newer and better treatments as well as early detection, cancer death rates have also declined, the war on cancer is still far from won.

It is no surprise, then, that a few days ago, IMS Health (NYSE: RX) -- a provider of market intelligence to the pharmaceutical and healthcare industries -- said that cancer drugs sales will nearly double by the year 2012. Assuming a compound growth rate of 12-15% a year, sales will grow from $48 billion in 2008 to $80 billion by 2012.

The main contributors to growth, according to the study, are an increasing number of patients on chemotherapy, not just in major markets but in emerging markets, too, as well as longer treatment periods for growing numbers of patients. Also fueling growth are the increased use of targeted therapeutic agents, along with first-time innovations coming to the market. Expensive new biotechnology drugs, and the increasing use of combination therapies that contribute to the exploding cost of treatment will also fuel cancer drugs sales growth.

The overall pharmaceutical market grew at a 6.4% pace in 2007, meaning that with its double-digit growth rate, the cancer drug market -- today contributing 17% to global pharmaceutical sales -- will only represent a greater proportion and emphasis. Of course, there will be factors moderating growth, such as drugs losing exclusivity and financial constraints of payers.

Cancer-fighting drugs can reach the market twice as fast as the average medicine, and companies can charge as much as $50,000 for a single course of treatment. It is no surprise then that with more and more drugs coming off patent many pharma companies are turning their attention to cancer. But can it save them?

Only recently, Pfizer Inc. (NYSE: PFE) has put several key people to head the different segments of its oncology arm, saying the company will focus on increasing the current 5% contribution of oncology drugs to its annual sales. Pfizer has boosted antitumor research 60% since 2005, and has something to show for it with the industry's biggest batch of experimental cancer drugs:18 potential medicines targeted against pancreatic, breast and lung cancers, although it has no oncology drugs awaiting approval now.

Pfizer isn't alone, of course. AstraZeneca (NYSE: AZN), GlaxoSmithkline (NYSE: GSK) and Novartis (NYSE: NVS) are testing more than a dozen antitumor drugs each and they're not alone.

Still, most cancer drugs in research today are not expected to be blockbusters. While some could bring sales in the billions, most will have sales of a few hundred million at best. This is very different from the many billions in revenue pharmas are used to with blockbusters like Pfizer's Lipitor, a cholesterol medicine that produced sales of $12.7 billion in 2007. Many of these blockbusters, though, are slowly coming off patent, so capturing the oncology drug market that can bring in the billions could be crucial for big pharmas. It is no surprise, then, that many analysts waited last Thursday for the American Society of Clinical Oncology (ASCO) abstract report, which includes 5,000 research studies, to try and identify the next potential successes.

The ASCO conference itself will be at the end of the month, May 30-June 2 in Chicago. Many of the studies submitted in the abstract will have updated results then. For now, though, some say that the early winners are Genentech Inc. (NYSE: DNA), Celgene Corp. (NASDAQ: CELG) and Medarex Inc. (NASDAQ: MEDX). (Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) and OSI Pharmaceuticals Inc. (NASDAQ: OSIP) look the opposite.)

But Genentech and Celgene already spend a lot on cancer research, and already have blockbuster oncology drugs like Avastin, a treatment for colorectal and non-small cell lung cancers and Herceptin for breast cancer (both Genentech's). The question is where were the big pharmas in all this?

Well, they tried:

Eli Lilly & Co. (NYSE: LLY) is awaiting approval for Enzastaurin, its non-hodgkin's lymphoma drug late 2010 / early 2011 and for Arzoxifene for osteoporosis and prevention of breast cancer, and also has quite a list of oncology drugs clinical trials going on. The company says a new study showed Alimta delayed growth in lung cancer when used soon after initial chemotherapy. This could support broader use of Alimta, which had $854 million in sales last year.
Pfizer said that study results across several difficult-to-treat cancers will be presented at ASCO. Most notable, though, is Pfizer's tests for Sutent for use in breast cancer, perhaps competing with Avastin there.
GlaxoSmithKline PLC (NYSE: GSK) announced that its Tykerb drug combined with Genentech's Herceptin increased progression-free survival in women with HER2-positive, advanced breast cancer to 12 weeks versus 8.1 weeks for Tykerb alone.
Bristol-Myers Squibb (NYSE: BMY), which co-markets ImClone Systems' (NASDAQ: IMCL) colon cancer drug Erbitux -- another example of a best-seller cancer drug from a smaller company -- was mentioned by 100 study abstracts. As for Erbitux, though, its sales could be hurt from studies that showed the drug is useless in nearly half of colon cancer patients and that now a simple gene test could determine compatibility ahead of time. Amgen's Vectibix will likely be affected by these findings as well.
Speaking of Amgen Inc. (NASDAQ: AMGN), it also provided an abstract to a study that showed that according to early test results, its experimental drug Denosumab was more effective than Novartis's Zometa in halting cancer's spread to bones and preventing fractures in cancer patients.

Notably missing were Merck & Co. (NYSE: MRK) and Wyeth Inc. (NYSE: WYE), although it's possible they were hidden somewhere inside the 5,000 abstracts.

Regardless, even the above examples were not the most exciting studies found.

Luckily for cancer patients, drug companies have something to strive for as more of their other blockbuster drugs go off patent and sales decline. With more research & development going into oncology drugs, this could be a win-win situation all around. The question is whether big pharmas are doing enough to move in that direction. It seems that some are and others are not, with Glaxo, AstraZeneca, Novartis and Pfizer, along with smaller Amgen and Lilly, actually poised better than Wyeth and Merck to improve in that market. DNA and CELG have long been oncology favorites, with good reason.

Now if only now a company could find the ultimate cure or vaccine, that'd be great for patients, sales and shareholders!

Permalink | Email this | Linking Blogs | Comments

Analyst downgrades: Airline stocks, SI and INAP

Eric Buscemi — 2008-03-20T10:49:00+00:00

Filed under: Analyst reports, Analyst upgrades and downgrades, US Airways Group (LCC), Amgen Inc (AMGN), Contl Airlines'B' (CAL), Delta Air Lines (DAL)

MOST NOTEWORTHY: The airline sector, Siemens and Internap were today's noteworthy downgrades:

Lehman downgraded the airline sector to Neutral from Positive, citing higher fuel costs and the weakening economy. AirTran (NYSE: AAI) and U.S. Airways (NYSE: LCC) were downgraded to Equal Weight from Overweight. UBS said it can no longer recommend airline stocks due to weakening economy, high fuel prices, and less likely industry consolidation. The firm downgraded Continental Airlines (NYSE: CAL), Delta Air Lines (NYSE: DAL), Northwest Airlines (NYSE: NWA) and U.S. Airways to Neutral from Buy.
Goldman removed shares of Siemens (NYSE: SI) from their Conviction Buy List as they believe the company may book additional charges of $1.2B this year.
Jefferies cut Internap (NASDAQ: INAP) to Underperform from Buy as they believe the 10-K filing delay and revenue quality questions reduce visibility into the health of the business.

OTHER DOWNGRADES:

Wachovia lowered Amgen (NASDAQ: AMGN) to Market Perform from Outperform.
SI International (NASDAQ: SINT) was downgraded to Neutral from Outperform at Cowen.
Citigroup cut Assured Guaranty (NYSE: AGO) to Hold from Buy.

Permalink | Email this | Linking Blogs | Comments