BloggingStocks

Early analyst calls (LVLT) (KBH)

Douglas McIntyre — 2008-08-13T07:47:00+00:00

Filed under: Before the bell, Analyst upgrades and downgrades, KB HOME (KBH), Level 3 Communications (LVLT)

Oppenheimer downgraded Level 3 (NASDAQ:LVLT) from Market Perform to Underperform, according to Briefing.com. The news service also reports that Citigroup intiated KB Home (NYSE:KBH) with a Hold.

Petro-Canada (NYSE:PCZ) was cut to Hold at Deutsche Bank, according to 24/7 Wall St. The financial news site also reports that Tween Brands (NYSE:TWB) Cut to Sell at Citigroup.

Douglas A. McIntyre

Read | Permalink | Email this | Linking Blogs | Comments

Closing Bell: Profit taking inside a tornado

Jon Ogg — 2008-07-24T16:14:00+00:00

Filed under: Microsoft (MSFT), Amazon.com (AMZN), Sirius Satellite Radio (SIRI), Federal Natl Mtge (FNM), QUALCOMM Inc (QCOM), Level 3 Communications (LVLT)

If you were getting used to the bulls running the show, the bears whispers of "Remember us?" turned much louder today. If you were looking for the day we finally got profit taking after a monster rise in financial stocks, it came. Weak housing data was said to be one of the key issues for the market, but the more than 400,000 weekly jobless claims filed was much worse than expected. Oil didn't skyrocket but it did at least catch a bid today and oil was back up to over $125.00 per barrel late in the day. If you want a big figure, PIMCO's Bill Gross said that total financial writedowns could see $1 Trillion.

Here are today's unofficial closing bell levels:
DJIA 11354.49 (-277.89)
S&P500 1253.12 (-29.07)
NASDAQ 2280.11 (-45.77)
10YR T-NOTE 4.016% (-0.132%)
52-WEEK LOWS
TOP ANALYST UPGRADES
TOP ANALYST DOWNGRADES

Amazon.com, Inc. (NASDAQ: AMZN) saw a mega-surge after the market decided that its above estimate earnings and somewhat conservative guidance was to match the environment rather than to be any red flag. Shares were up a sharp in today's final minutes.

Fannie Mae (NYSE: FNM) led the financial sector down just like it did on the way up. Shares were down a sharp near-20% at$12.02 in today's final minutes.

Level 3 Communications Inc. (NASDAQ: LVLT) was perhaps the big surprise. It beat earnings and gave a slightly better outlook on free cash flow for the year. It looks like this one is set to become a leveraged sentiment proxy based upon the market trends of the day, and here's an explanation for that. Shares were down almost 7% at $3.32 in today's final minutes.

Microsoft Corporation (NASDAQ: MSFT) saw a lot of caution into today's analyst meeting. Its online unit's president leaving to go run Juniper was a definite drag and timed very strangely for the company. Shares were down 3.5% at $25.50 in today's final minutes of trading.

Qualcomm Inc. (NASDAQ: QCOM) was the true technology and communications winner. Its earnings were good but the CDMA-leader finally settled its Nokia-suit which has been more than a major drag on the stock. Shares were up over 17% at $52.69 on more than 100 million shares in today's final minutes.

Sirius Satellite Radio Inc. (NASDAQ: SIRI) was the surprise loser today with shares down almost 8% at $2.46 on over 50 million shares traded by today's final minutes. Everyone kept expecting the announcement of an FCC Approval but all that came were an increased XM debt sale refinancing and it announcing it was in discussions for a consent decree with caveats.

Permalink | Email this | Linking Blogs | Comments

Analyst downgrades: TXI, TGA and LVLT

Eric Buscemi — 2008-06-30T13:00:00+00:00

Filed under: Analyst reports, Analyst upgrades and downgrades, Whole Foods Market (WFMI), Safeway Inc (SWY), Level 3 Communications (LVLT)

MOST NOTEWORTHY: Texas Industries, TransGlobe Energy and Level 3 Communications were today's noteworthy downgrades:

Stephens downgraded shares of Texas Industries (NYSE: TXI) to Equal Weight from Overweight as it believes higher energy costs will affect the company's ability to achieve its guidance. The firm lowered its target to $68 from $83.
Jefferies assumed coverage and downgraded shares of TransGlobe Energy (NYSE:TGA) to Hold from Buy as it sees limited upside until the company completes its seismic activity and can better quantify its exploratory reserve potential. The firm lowered its target to $5.25 from $6.50.
Citigroup downgraded Level 3 (NASDAQ: LVLT) to Sell from Hold as it believes the pullback in telecom valuations increases downside risk for the stock. Citigroup lowered their target price to $2.50 from $3.

OTHER DOWNGRADES:

Safeway (NYSE: SWY), Sysco (NYSE:SYY) and Whole Foods (NASDAQ: WFMI) were cut to Neutral from Buy at UBS.
Piper lowered Third Wave (NASDAQ:TWTI) to Neutral from Buy.
China Petroleum (NYSE: SNP) was lowered at JP Morgan to Underweight from Overweight.

Permalink | Email this | Linking Blogs | Comments

Option Update: Level 3 Comm volatility at low end of range after sharp rally

Paul Foster — 2008-06-05T15:51:00+00:00

Filed under: Options, Level 3 Communications (LVLT)

Level 3 Communications, Inc. (NASDAQ: LVLT), an integrated communications services company, is recently up 41c to $4.31:

Goldman's Sachs said on June 4th "part of the stock's recent run is likely related to reduced fears of a dilutive convert, and hence an element of related short covering." LVLT call option volume of 26,862 contracts compared to put volume of 2,153 contracts. LVLT July option implied volatility of 68 was below its 26-week average of 79 according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Permalink | Email this | Linking Blogs | Comments

Closing Bell: Weak close, Moody's and Bernanke don't apply to Tech stocks

Jon Ogg — 2008-06-04T16:14:00+00:00

Filed under: After the bell, Verizon Communications (VZ), Level 3 Communications (LVLT), MBIA Inc (MBI)

Today was a very mixed trading day on the economic and news front. Ben Bernanke said that inflation was far higher than he was comfortable with, but he also said he doesn't expect this scenario to become like the one in the 1970s. Oil also slid again to under $123.00 per barrel. Today may have looked better had it not been for some additional downgrade warnings from Moody's on bond insurers. These are the unofficial closing bell levels:

DJIA 12390.89 (-11.96)
S&P500 1377.24 (-0.41)
NASDAQ 2503.14 (+22.66)
52-WEEK LOWS
TOP 10 ANALYST CALLS

AMBAC Financial Group Inc. (NYSE: ABK) and MBIA Inc. (NYSE: MBI) each saw shares punished to 52-Week Lows after Moody's noted that it may cut the bond insurers' "Aaa" rating.

Lear Corp. (NYSE: LEA) was actually rather impressive today. Shares were up 1.2% in the final minutes at $25.05, despite the company issuing an earnings warning this morning.

Level 3 Communications Inc. (NASDAQ: LVLT) saw another active trading day with shares up almost 5% at $3.92 in the final minutes of the day. There are several reasons.

Verizon Communications Inc. (NYSE: VZ) was trading down about 1.1% at $36.9 in the final minutes on reports that it was going to pay some $27 billion to acquire Alltel and its 13+ million wireless subscribers from TPG and GSCP.

Permalink | Email this | Linking Blogs | Comments

Analyst upgrades: CRM, FMD and SSP

Eric Buscemi — 2008-05-22T10:57:00+00:00

Filed under: Analyst reports, Analyst upgrades and downgrades, Level 3 Communications (LVLT), salesforce.com inc (CRM)

MOST NOTEWORTHY: Salesforce.com, First Marblehead and The E.W. Scripps Co were today's noteworthy upgrades:

Jefferies upgraded shares of Salesforce.com (NYSE:CRM) to Buy from Hold following the company's Q1 results and recommends accumulating shares on any weakness from concerns around a slowdown in bookings. They believe that while bookings growth slowed in Q1, CRM's growth remains stellar and its market opportunity remains large.
Friedman Billings upgraded First Marblehead (NYSE:FMD) to Market Perform from Underperform. The firm believes most of the bad news is reflected in shares and that there are early indications of "thawing" within the private student loan ABS market.
Lehman upgraded the E.W. Scripps Co (NYSE:SSP) to Overweight from Underweight and expects the upcoming July 1st split of Scripps Networks Interactive from Scripps will give the company strategic opportunity by separating high growth cable from traditional newspapers and broadcasting.

OTHER UPGRADES:

ING upgraded Royal Dutch Shell (NYSE:RDS.A) to Buy from Hold and StatoilHydro (NYSE:STO) to Hold from Sell.
Cost Plus (NASDAQ:CPWM) was raised to Market Perform from Underperform at JMP Securities.
Wachovia upgraded Level 3 (NASDAQ:LVLT) to Market Perform from Underperform.

Permalink | Email this | Linking Blogs | Comments

Closing Bell: Stocks survive despite weak confidence and record oil

Jon Ogg — 2008-05-16T16:09:00+00:00

Filed under: Level 3 Communications (LVLT)

Today was an odd day, and despite the mixed index levels it should be considered a win. Oil rose sharply and was over $127.00 at one point after the Saudi's said that demand didn't justify increasing production in oil; Goldman Sachs put oil's average target for the second half of 2008 above $140/barrel. To top it off, the controversial University of Michigan consumer confidence level came in at the lowest reading since 1980. Even housing saw strange information as the rise in building permits and housing starts came out much higher than expected: so much for house prices stabilizing.

DJIA 12,983.13 (-9.53; -0.07%)
S&P500 1,425.06 (+1.49; +0.10%)
NASDAQ 2,528.79 (-4.94; -0.19%)
10 Yr Bond 3.850% (+0.007%)
52-week lows
TOP 10 ANALYST CALLS

Ascent Solar Technologies, Inc. (NASDAQ: ASTI) saw a drop-off after it priced a 3.8 million share secondary offering at $14.00, well under yesterday's close. In the final minutes, shares were down 6% at $14.93.

Finisar Corporation (NASDAQ: FNSR) shares rose by more than 15% to $1.53 late in the day after the company raised guidance.

Harris Corporation (NYSE: HRS) shares were up on market talk that, as part of the company's quest to find alternatives, that a bidder was going to step in this weekend. Whether or not that happens is another issue, but shares traded almost triple normal volume by mid-day. In the final minutes, shares were still up about 6.5% at $64.08.

Level 3 Communications Inc. (NASDAQ: LVLT) shares were up 9% at $3.58 in the final minutes.

Pharmacopeia, Inc. (NASDAQ: PCOP) saw a huge rise as the small biotech announced a single molecule that would help reduce blood pressure and combat traditional complications that can arise in diabetics. Shares were up 29% at $4.12 in the final minutes.

Permalink | Email this | Linking Blogs | Comments

Earnings highlights: Microsoft, Yahoo!, Apple, Amazon, Texas Instruments and others

Trey Thoelcke — 2008-04-26T14:40:00+00:00

Filed under: Earnings reports, Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), Amazon.com (AMZN), AT and T (T), Netflix, Inc. (NFLX), QUALCOMM Inc (QCOM), Electronic Data Systems (EDS), Texas Instruments (TXN), Huaneng Power Intl ADS (HNP), EMC Corp (EMC), Broadcom Corp'A' (BRCM), Level 3 Communications (LVLT)

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Amazon.com Inc. (NASDAQ: AMZN) profits rose 30%, easily beating analysts' expectations.
AMETEK Inc. (NYSE: AME) beat Q1 estimates on global strength and recent acquisitions.
Apple Inc. (NASDAQ: AAPL) easily beat Q2 expectations but offered a weak outlook.
AT&T Inc. (NYSE: T) posted strong Q1 results thanks to the popularity of the iPhone.
Baidu.com Inc. (NASDAQ: BIDU) beat earnings and saw an upgrade from Citigroup Inc. (NYSE: C).
Broadcom Corp. (NASDAQ: BRCM) Q1 profit soared, and it raised its guidance.
Cymer Inc. (NASDAQ: CYMI) beat Q1 estimates and announced a share million buyback program.
Electronic Data Systems Inc. (NYSE: EDS) posted Q1 profits on cost cutting and new contracts.
EMC Corp. (NYSE: EMC) Q1 earnings fell on on acquisition-related charges.
Hexcel Corp. (NYSE: HXL) beat Q1 estimates on increased commercial aerospace sales.
Huaneng Power ADS (NYSE: HNP) earnings plunged on coal prices, but the stock went higher.
Level 3 Communications Inc. (NASDAQ: LVLT) narrowed its loss on higher sales of networking services.
McAfee Inc. (NYSE: MFE) Q1 profit plunged on product development and marketing costs.
MEMC Electronic Materials Inc. (NYSE: WFR) missed analysts' estimates for the first quarter.
Microsoft Corp. (NASDAQ: MSFT) beat earnings expectations and raised its full-year guidance.
Netflix Inc. (NASDAQ: NFLX) profit soared in the first quarter on increase in subscriptions.
Nintendo Co. (OTC: NTDOY) posted record results due to the popularity of the Wii system.

optionsXpress Holdings Inc. (NASDAQ: OXPS) reported solid results in the first quarter.
Qualcomm Inc. (NASDAQ: QCOM) reported mixed results for the second quarter but raised its guidance.
Texas Instruments Inc. (NYSE: TXN) Q1 earnings rose 40%, in line with analysts' expectations.
VMware Inc. (NASDAQ: VMW) posted strong earnings and offered a positive outlook.
Vocus Inc. (NASDAQ: VOCS) reported its 35th consecutive quarter of revenue growth.
Yahoo! Inc. (NASDAQ: YHOO) beat Q1 estimates, helping it to face Microsoft.

Also, Jim Cramer discusses "crummy lenders" and Sheldon Liber takes a closer look at Amazon.com's results. Joseph Lazzaro considers Citigroup Inc. (NYSE: C) as a barometer of the economy. One analyst thinks financials may have hit bottom and it may be time to buy, and Jon Ogg looks at what short sellers are making of tech stocks. Ted Allrich discusses what to sell/what to buy.

Upcoming results to watch for include Verizon Communications (NYSE: VZ), Tyson Foods (NYSE: TSN), CBS Corp. (NYSE: CBS), Countrywide Financial (NYSE: CFC), U.S. Steel Corp. (NYSE: X), Office Depot (NYSE: ODP), General Motors (NYSE: GM), Procter & Gamble (NYSE: PG), Kraft Foods (NYSE: KFT), Starbucks (NASDAQ: SBUX), Time Warner (NYSE: TWX), Comcast (NASDAQ: CMCSA), Exxon Mobil (NYSE: XOM), and Chevron (NYSE: CVX).

Visit AOL Money & Finance for more earnings coverage.

Permalink | Email this | Linking Blogs | Comments

Analyst upgrades: RFMD, QLT and RE

Eric Buscemi — 2008-04-24T11:18:00+00:00

Filed under: Analyst reports, Analyst upgrades and downgrades, Level 3 Communications (LVLT)

MOST NOTEWORTHY: RF Micro Devices, QLT Inc and Everest RE Group were today's noteworthy upgrades:

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.

OTHER UPGRADES:

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.

Permalink | Email this | Linking Blogs | Comments

10 crushed stocks that look to be rebounding

Timothy Sykes — 2008-04-24T10:47:00+00:00

Filed under: Good news, Sprint Nextel Corp (S), Broadcom Corp'A' (BRCM), Technical Analysis, Level 3 Communications (LVLT), China Life Insurance ADS (LFC), Stocks to Buy

Way back in early March I highlighted 10 horrifically downtrending stocks and said not to even think about buying them until they broke their nasty trendlines to the upside.

Over the past few weeks, many have displayed solid sideways price action, but it wasn't until yesterday that the high volume breakouts occurred. I'm talking about those 50+ million shares traded, 10%+ price surges beautifully accomplished by such popular names like Sprint Nextel Corp (NYSE: S), Broadcom Corp (NASDAQ: BRCM) and Level 3 Communications Inc (NASDAQ: LVLT).

Unsurprisingly, several other stocks also showed similarly strong price action:

RF Microdevices Inc (NASDAQ: RFMD)
Anadigics Inc (NASDAQ: ANAD)
Skyworks Solutions Inc (NASDAQ: SWKS)
Triquint Semiconductor Inc (NASDAQ: TQNT)
China Life Insurance Co. Ltd (NYSE: LFC)
Raymond James Financial Inc (NYSE: RJF)
Cerner Corp (NASDAQ: CERN)

Hold on, hold on, before you get too excited and spend all the cash sitting in money market funds, understand that this is just the first step in any potential major reversal. I doubt any of these stocks will go straight up as there are still plenty of bitter long-term investors who'd like to cut their losses into any bounce. So, think back to the lessons taught by the now-decade-old-but-still-great movie Contact: "Small moves Ellie, small moves."

For now, just keep a closer eye on all these plays -- stalk them as if they were your prey. If I'm right, short sellers are going to start covering en mass and that should help increase the odds for a gradual price rise over the next few weeks and months.

Timothy Sykes writes the blog timothysykes.com, is a former hedge fund manager, star of the TV show Wall Street Warriors and author of the book, An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund

Permalink | Email this | Linking Blogs | Comments

Early analyst calls (LVLT) (XMSR)

Douglas McIntyre — 2008-04-24T07:17:00+00:00

Filed under: Before the bell, Analyst upgrades and downgrades, XM Satellite Radio (XMSR), Level 3 Communications (LVLT)

Goldman Sachs believes that the Q2 forecast from Citrix Systems (NASDAQ:CTXS) to push the share price down according to the AP.

Citigroup downgraded XM Satellite (NASDAQ:XMSR) from "buy" to "hold" according to Briefing.com. The news service also reports that Merriman upgraded Level 3 (NASDAQ:LVLT) from "sell" to "neutral."

DIRECTV (NYSE:DTV) was downgraded to "market perform" at Bernstein according to 24/7 Wall St. The financial site also reports that Take-Two Interactive (NASDAQ:TTWO) was cut to "hold" from "buy at Citigroup

Douglas A. McIntyre

Read | Permalink | Email this | Linking Blogs | Comments

Closing Bell: Winners trump losers on earnings: ABK, BA, LVLT, VMW ...

Jon Ogg — 2008-04-23T16:24:00+00:00

Filed under: Boeing Co (BA), Broadcom Corp'A' (BRCM), Level 3 Communications (LVLT)

Shares closed mostly higher today, although this was more of a mixed day between the haves and the have-nots. Boeing Co. (NYSE: BA) managed to keep earnings inline with estimates and were not bad considering the weak airline sector, so its 4.4% gain to $82.09 was a huge relief for the DJIA today. Below are the unofficial closing levels for major US index levels:

DJIA 12,767.21 (+46.98; +0.37%)
S&P 500 1,380.23 (+4.29; +0.31%)
NASDAQ 2,403.45 (+26.51; +1.12%)
10YR-Bond 3.73% (0.01)
52-week lows.

Ambac Financial Group, Inc. (NYSE: ABK) posted losses that were wider than expected. It showed losses of $1.7 billion and $11.69 per share and a $3.1 billion in subprime charges. The company sells insurance policies that repay bondholders if issuers default. The 52-week range is $4.50 - $96.10. Shares hit a new low today, and traded down over 40% at $3.45 in the final minutes of trading.

MBIA Inc. (NYSE: MBI) dropped dramatically after Ambac's worse-than-expected earnings report. The rivals are expected to be hit hard by the wave of defaults it insures due to the subprime credit crisis. The two have been struggling to raise capital to cover losses and have suffered downgrades to their credit ratings. MBI shares were down 32% at $9.00 in the final minutes today.

Broadcom Corp. (NASDAQ: BRCM) reported a 22% increase in profit with a net income of $74.3 million and $0.14 EPS. The chipmaker had positive guidance for the second quarter and the year. Shares were up over 15% at $27.28 in the final minutes today.

Cree (NYSE: CREE) reported earnings of $5.7 million and $0.06 EPS Tuesday after the market close. Revenues rose by 29%. The earnings were 73% lower than first quarter last year, however, those earnings were boosted by a one-time gain. Shares traded down over 15% at $26.25 in the final minutes today.

Level 3 Communications Inc. (NASDAQ: LVLT) losses narrowed when it reported its earnings this morning. The smaller losses are credited to higher sales of its networking services. The company generated a loss of $181 million, or $0.12 per share, compared to $647 or $0.44 per share in the first quarter of 2007. The company also restated its positive outlook for next quarter. Shares traded up over 20% at $2.90 in the final minutes today.

Safeco. (NYSE: SAF) jumped after a $6.12 billion offer from Liberty Mutual. Liberty offered $68.24 per share. The merger will make Liberty Mutual the fifth largest property insurer in the U.S. Pending regulatory and shareholder approval, the deal is expected to close by the end of the third quarter. Shares were up 45% at $65.94 in the final minutes today.

VMware, Inc. (NASDAQ: VMW) was up after posting strong earnings and a positive outlook. The company generated a net income of $43 million and $0.11 EPS compared to $41 million and $0.12 EPS first quarter 2007. The revenue growth was fueled by a 73% increase in software license sales and a 62% increase in services revenue. The company also reported a positive outlook, however, many analysts are hesitant to upgrade because the stock is already highly valued. Shares were up 12% earlier today, but shares were "only" up about 5% at $60.93 in the final minutes of trading today.

Jon Ogg is an editor and producer of the "10 Stocks Under $10" weekly newsletter from 247WallSt.com.

Permalink | Email this | Linking Blogs | Comments

Standout short interest gainers on NASDAQ (ATVI, LEAP, LVLT, SIRI)

Jon Ogg — 2008-04-10T11:07:00+00:00

Filed under: Sirius Satellite Radio (SIRI), Short stories, Activision Inc (ATVI), Level 3 Communications (LVLT)

NASDAQ has released its short interest for the end of March, with a March 31, 2008 cut off date. Overall short interest fell by a rate of some 1.2% on NASDAQ for the two-week period to 9,657,092,223. Interestingly enough, there were a few standouts that saw some major gains in short selling.

STOCK (TICKER) MARCH 31 Change Days-Cover
Activision, Inc. (NASDAQ: ATVI) 11,220,128 54.65% 2.29
Leap Wireless Int'l (NASDAQ: LEAP) 14,852,034 38.12% 7.34
Level 3 Comm., Inc. (NASDAQ: LVLT) 243,930,977 9.10% 9.94
Sirius Satellite Radio (NASDAQ: SIRI) 137,781,424 41.50% 2.25

The percentage terms on Level 3 are not that great, but the raw number of shares is significant.

These were not the only gainers out there, but the bets against some of these rising short interest stocks were staggering. You can check NASDAQ short interest on any of these stocks or others at the NASDAQ Trader site dedicated to short interest.

Permalink | Email this | Linking Blogs | Comments

Analyst initiations: GSK, LVLT, SVNT, FREE and SINA

Eric Buscemi — 2008-04-01T11:40:00+00:00

Filed under: Analyst reports, Analyst initiations, Level 3 Communications (LVLT), Savient Pharmaceuticals (SVNT)

MOST NOTEWORTHY: GlaxoSmithKline, FreeSeas and SINA Corp were today's noteworthy initiations:

ING believes GlaxoSmithKline (NYSE: GSK) should benefit from the appointment of Andrew Witty as CEO and see limited downside risks. The firm initiated shares with a Buy rating.
FreeSeas (NASDAQ: FREE) was started at Oppenheimer with an Outperform rating and $8 target, as they view FREE as an early stage growth company in the smaller dry-bulk vessel segment and finds the valuation attractive at current levels.
Kaufman Bros. initiated SINA Corp (NASDAQ: SINA) with a Buy rating and $4.50 target, and believes China represents a compelling long-term growth opportunity.

OTHER INITIATIONS:

Level 3 Comm (NASDAQ: LVLT) was initiated with a Underperform rating at Wachovia.
Jefferies assumed Savient Pharma (NASDAQ: SVNT) with a Buy rating and $30 target.
Lehman initiated Brown & Brown (NYSE: BRO) with an Underweight rating.

Permalink | Email this | Linking Blogs | Comments

Analyst downgrades: UBS, KLA-Tencor, Level 3 Communications

Eric Buscemi — 2008-03-12T12:04:00+00:00

Filed under: Analyst reports, Analyst upgrades and downgrades, Kroger Co (KR), Level 3 Communications (LVLT)

MOST NOTEWORTHY: UBS AG, KLA-Tencor and Level 3 Comm were today's noteworthy downgrades:

Keefe Bruyette downgraded shares of UBS (NYSE: UBS) to Underperform from Market Perform as they expect as they expect further write-downs to erase profits in 2008.
Oppenheimer downgraded shares of KLA-Tencor (NASDAQ: KLAC) to Underperform from Perform after checks indicated Intel (NASDAQ: INTC) has chosen Applied Materials' (NASDAQ: AMAT) reticle inspection tool for its entire 32nm node after a long period of evaluation against KLA-Tencor. Oppenheimer believes this represents a $300M shift from KLA-Tencor's dominant market share in reticle inspection.
Jefferies cut Level 3 Communications (NASDAQ: LVLT) to Hold from Buy as they see limited opportunity for near-term share appreciation given the company's integration challenges and the added uncertainty from recent management changes.

OTHER DOWNGRADES:

Keefe Bruyette downgraded Credit Suisse (NYSE: CS) to Market Perform from Outperform.
Kroger (NYSE: KR) was downgraded to Underweight from Neutral at JP Morgan.
Baird cut Network Appliance (NASDAQ: NTAP) to Neutral from Outperform.

Permalink | Email this | Linking Blogs | Comments

Analyst downgrades: LVLT, TXN, BG, WLP, KERX and CTXS

Eric Buscemi — 2008-03-11T11:11:00+00:00

Filed under: Analyst reports, Analyst upgrades and downgrades, Texas Instruments (TXN), Level 3 Communications (LVLT), Bunge Ltd. (BG)

MOST NOTEWORTHY: The Managed Care sector, Keryx Biopharma and Citrix Systems were today's noteworthy downgrades:

Goldman downgraded the Managed Care sector to Neutral from Attractive following WellPoint's (NYSE: WLP) reduced 2008 outlook. The firm said WellPoint's issues reflect a company specific underwriting error but also industry-wide pricing pressures which increase the risk of a cyclical slowdown in managed care. WellPoint was also downgraded to Neutral from Overweight at JP Morgan.
Banc of America cut Keryx Biopharma (NASDAQ: KERX) to Neutral from Buy and lowered their target to $1.00 after Sulonex failed to meet its primary endpoint.
Jefferies downgraded shares of Citrix Systems (NASDAQ: CTXS) to Hold from Buy, as they believe the first half of 2008 will be a tough year for software and are increasingly worried about the macro environment.

OTHER DOWNGRADES:

Level 3 Comm (NASDAQ: LVLT) was downgraded to Underweight from Market Weight at Thomas Weisel.
Texas Instruments (NYSE: TXN) was lowered to Neutral from Buy at Piper Jaffray.
Credit Suisse removed Bunge Limited (NYSE: BG) from its U.S. Focus List.

Permalink | Email this | Linking Blogs | Comments

Early analyst calls: LVLT, TXN, WLP

Douglas McIntyre — 2008-03-11T07:41:00+00:00

Filed under: Before the bell, Analyst upgrades and downgrades, Texas Instruments (TXN), Level 3 Communications (LVLT)

Goldman Sachs cut WellPoint (NYSE:WLP) from "buy" to "neutral," according to MarketWatch.

Thomas Weisel downgraded Level 3 (NASDAQ:LVLT) to "underweight" from "market weight," according to Briefing.com. The news service also reported that Piper Jaffray downgraded Texas Instruments (NYSE:TXN) from "buy" to "neutral."

Douglas A. McIntyre is an editor at 247wallst.com.

Read | Permalink | Email this | Linking Blogs | Comments

Pre-market movers (MCD) (CFC) (LVLT)

Douglas McIntyre — 2008-03-10T08:35:00+00:00

Filed under: McDonald's (MCD), Countrywide Financial (CFC), Level 3 Communications (LVLT)

Level 3 (NASDAQ:LVLT) is off 7% on news that the company's president is leaving.

Ambac (NYSE:ABK) is indicating that it could open down 15% after the company announced financing last Friday.

Countrywide (NYSE:CFC) is indicating that it could open down 7% on word that the FBI is investigating the company's statements about its financial position.

McDonald's (NYSE:MCD) is indicating a 4% increase on better-than-expected sales for February.

Stocks may trade differently in the pre-market than they do in the regular session.

Douglas A. McIntyre is an editor at 247wallst.com.

Permalink | Email this | Linking Blogs | Comments

Shorts bet big against tech: YHOO, MSFT, LVLT, INTC, DELL

Douglas McIntyre — 2008-02-28T04:40:00+00:00

Filed under: Microsoft (MSFT), Yahoo! (YHOO), Dell (DELL), Intel (INTC), Short stories, Level 3 Communications (LVLT)

Short interest for stocks traded on the Nasdaq showed big bets that major tech stocks would drop. The figures are as of February 15 and compare with the numbers on January 31.

Short interest in Microsoft (NASDAQ: MSFT) jumped 22.6 million to 112.3 million, almost certainly a bet that the company will buy Yahoo! (NASDAQ: YHOO), a purchase many holders oppose as a distraction. Oddly, Yahoo! short interest moved up 12.7 million to 55.2 million. This may be because some portion of Wall Street believes that Microsoft could drop its price or walk away from a deal completely. As internet ad revenue slows this becomes more likely.

The hardest hit stock among short sellers was Level 3 (NASDAQ: LVLT). Its financial results for 2007 were poor and the company is loaded with debt. If the need for bandwidth does not spike up in 2008, Level 3's earnings may not recover.

Shares sold short in Intel (NASDAQ: INTC) and Dell (NASDAQ: DELL) also moved up sharply, a sign that investors do not see the PC and server markets doing well in a downturn.

All in all, Wall Street is turning its back on the big tech companies.

Douglas A. McIntyre is an editor at 247wallst.com.

Permalink | Email this | Linking Blogs | Comments

Stocks Under $10: A buy or a sell?, Tips for antsy investors & AARP: not always a great deal: Today in Money 2/19

Allan Halprin — 2008-02-19T08:31:00+00:00

Filed under: Microsoft (MSFT), Yahoo! (YHOO), Wal-Mart (WMT), Ford Motor (F), XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), Sprint Nextel Corp (S), Advanced Micro Dev (AMD), Money and Finance Today, Campbell Soup (CPB), Circuit City Stores (CC), Verizon Communications (VZ), Office Depot (ODP), Level 3 Communications (LVLT), Delta Air Lines (DAL), MBIA Inc (MBI)

In the News:

· Wal-Mart's Focus on Low Prices Pays Off as Quarterly Profits Rise

· Wal-Mart Fashioning a New Growth Trick

· Credit Suisse Writes Off $2.85 Billion

· Troubled Bond Insurer MBIA Chief Steps Down

· Microsoft & Yahoo: Playing Chicken?

· Toshiba to Quit HD DVD Business

· Campbell's Lowers Sodium in Kids Soups

· Verizon to Offer Flat-Fee Unlimited Wireless Plans

· Report: Pilots Clear Way for Delta-Nortwest Deal

· Sirius-XM: One Year Later and Still Waiting

· Disappearing Bees Threaten Haazen-Dazs

Most Well-Known Stocks Under $10; Are They a Buy or a Sell?
Inexpensive stocks doesn't mean they are a good buy, but they do to tend to have larger percentage moves both up and down, on news. Here are $10 stocks which trade an average of 10 million shares a day and a look at where they might be in a year. They include Sirius, Ford Motor, AMD, Charter Communications, Level 3, E*Trade, Sprint, Office Depot, Circuit City and Dendreon.
24/7 Wall St.: Ten Stocks Under $10: Looking Out A Year

Tips for Antsy Investors
With the economy teetering at the brink and markets swinging wildly, what should you do? Here are five tips designed to ease anxieties and prepare you for whatever 2008 brings.
Recession Watch: Tips for Antsy Investors

Sure It's From AARP, But Is It Really a Good Deal?
Few names are more closely associated with retirement than AARP. The organization is best known for its advocacy on behalf of those 50 and over. But AARP also has a thriving business licensing financial and health insurance products which get mixed reviews.
AARP: Not Always a Great Deal - BusinessWeek

Most Americans Unprepared for Retirement
Majority of workers will not be able to cover their health care expenses and maintain their standard of living in retirement, according to a new study.
Most Americans unprepared for retirement - CNNmoney

5 Stupidest Tax Mistakes
You don't have the money to pay so you don't file a tax return is one of the five dumbest things you can do when it comes to takes. Others include getting a refund anticipation loan, pay your taxes with a high-interest rate credit card and ignoring letters the IRS sends you.
Five stupid tax mistakes

Hot Green Products
Apple's new MacBook Air makes an impressive eco-conscious statement-as does an array of other recent items ranging from flashlights to diapers.
http://images.businessweek.com/ss/08/02/0209_green_products/index_01.htm?technology+slideshows

Unrewarding Rewards Credit Cards
Rewards credit cards can offer some pleasant savings that nonrewards cards can't. How much you'll make back depends on the card you choose and your spending. As you examine different rewards cards, look for the following "gotchas" in the terms and conditions.
7 ways to spot unrewarding rewards cards -Bankrate.com

Permalink | Email this | Linking Blogs | Comments