Jim Cramer Blog

Agnico-Eagle Mines Ltd. (NYSE:AEM - News) reported fourth-quarter earnings more than doubled to 35 cents a share from 13 cents in the year-earlier period. The Toronto gold producer's revenue nearly doubled to $138.4 million from $71.4 million.

Ambassadors International (NasdaqGM:AMIE - News) shares climbed after Carnival Corp. (NYSE:CUK - News) said it signed a definitive agreement to sell its Windstar Cruises brand to Ambassadors $100 million. Carnival said the purchase price includes $40 million cash and the assumption of liabilities, and Carnival will provide mortgage financing for the remaining $60 million. Windstar Cruises operates three vessels and is a unit of Carnival's Holland America Line subsidiary.
Analog Devices Inc. (NYSE:ADI - News) fiscal first-quarter profit rose 26% on 6% higher sales. It sold more microchips used in industrial equipment and consumer electronics.
Arrow Electronics (NYSE:ARW - News) reported fourth-quarter earnings of $128.1 million, or $1.04 a share, up from a year-ago profit of $74.4 million, or 60 cents a share. Excluding certain items, such as restructuring charges and a gain from a tax settlement, the Melville, N.Y., electronics components distributor said it earned $92.2 million, or 75 cents a share, in the latest quarter. Sales rose in the latest three months to $3.49 billion from $2.96 billion in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of 73 cents a share in the December period. Looking ahead, Arrow sees earnings of 72 to 76 cents a share in the first quarter on sales ranging from $3.525 billion to $3.725 billion. Wall Street's current consensus estimate is for earnings of 74 cents a share in the March period.
Catalina Marketing Corp. (NYSE:POS - News) said it received an unsolicited proposal from ValueAct Capital Master Fund LP to acquire by merger all of the Catalina stock it doesn't already own, for $32 a share. Jeffrey Ubben, a Catalina director since May 2006, is principal owner of ValueAct, according to a statement. Catalina said it advised ValueAct that its proposal is under consideration by the company's board of directors.
Ensco International Inc.'s (NYSE:ESV - News) fourth-quarter net income rose to $210.4 million, or $1.39 a share, from $103.6 million, or 67 cents a share, a year ago. Earnings from continuing operations for the quarter were $1.36 a share, up from 65 cents a year ago. A Thomson Financial survey of analysts, on average, predicted earnings of $1.29 a share for the quarter. Analysts' estimates usually exclude items. The Dallas provider of contract drilling services said revenue for the quarter rose 51% to $470.6 million from $311.3 million last year. The company is "positive" about its 2007 outlook and expects first quarter results to be improved compared to the fourth quarter.
First Data Corp. (NYSE:FDC - News) said it would exit its official check and money-order operations over two to three years. The wind-down will free up $250 million to $300 million of cash for potential acquisitions, share repurchases and other purposes this year, FDC said.
Friedman, Billings, Ramsey Group Inc. (NYSE:FBR - News) reported a turn back to profit in the fourth quarter on Thursday, although the company today remained solidly in the red for the full year 2006. Friedman, Billings said it earned $3.8 million, or 2 cents a share, reversing a loss of $271.6 million, or $1.60 a share, in the year-ago period. Revenue came in at just under $176 million, vs. negative revenue of $114 million due to an investment loss in the same quarter of 2005. For the full year 2006, Friedman, Billings lost 39 cents a share, compared to a loss of $1.01 a share in 2005.
General Maritime Corp.'s (NYSE:GMR - News) fourth-quarter net income fell 79% on 56% lower revenue, hurt by lower spot charter rates and a smaller fleet.
HealthSpring Inc.'s (NYSE:HS - News) fourth-quarter net income more than tripled to 35 cents from 10 cents in the year-earlier period. The Nashville provider of prescription-drug plans posted revenue of $335.7 million, up from $246.1 million. The company still expects 2007 earnings of $1.55 and $1.65 a share on revenue of $1.5 billion to $1.6 billion.
Hilb Rogal & Hobbs Co. (NYSE:HRH - News) fourth-quarter earnings rose to 59 cents a share from 54 cents in the year-earlier period. Revenue at the Richmond, Va., insurance and risk management intermediary climbed to $175.5 million from $164 million. Lamar Advertising Co.'s board declared a special dividend of $3.25 a share, payable March 30 to shareholders of record March 22.
Industrial Distribution Group Inc. (NasdaqGM:IDGR - News), a maker and distributor of cutting tools and abrasives, said fourth-quarter net income rose 33% to $1.9 million, or 20 cents a share, from $1.5 million, or 15 cents a share, a year earlier. Sales climbed 1% to $131.6 million. Gross margins in the quarter came in at 23% compared to 22.4% in the year-ago period.
J.C. Penney Co. (NYSE:JCP - News) on Thursday said fourth-quarter net income slipped to $477 million, or $2.09 a share, from $551 million, or $2.34 a share, in the year-ago period. On a continuing operations basis, it earned $2 a share vs. $1.92 a year earlier. Total net sales rose to $6.66 billion from $6.2 billion, while sales at stores open at least one year rose 2.2%. Analysts, on average, expected it to earn $1.97 a share on revenue of $6.64 billion, according to Thomson Financial. For the first quarter, Plano, Texas-based J.C. Penney expects to earn 99 cents a share, for the year it is targeting profit at $5.44 a share. Analysts polled by Thomson Financial expect it to earn $1.05 a share for the first quarter and $5.42 for the year.
Monarch Casino & Resort Inc. (NasdaqGS:MCRI - News) shares rose after Standard & Poor's said it will add the company to the S&P SmallCap 600 index on a date to be announced, replacing Advo Inc. (NYSE:AD - News).
Moscow CableCom Corp.: (NasdaqGM:MOCC - News) Renova Media Enterprises Ltd. agreed to acquire the equity in Moscow CableCom that it does not already own for $12.90 a share and an equivalent price for Moscow CableCom's Series A convertible preferred stock.
National Semiconductor (NYSE:NSM - News) was upgraded to overweight from equal-weight by Morgan Stanley. "Following three consecutive quarters with negative surprises, we believe that National Semiconductor's fundamentals will likely bottom in the current quarter. Although we expect the ensuing recovery in fundamentals to be slow and potentially choppy during the next couple of quarters, we expect the company's underlying earnings power to show solid signs of improvement during the next couple of years, and this trend should drive NSM higher," the broker said.
OfficeMax Inc. (NYSE:OMX - News)earned 76 cents a share in the fourth quarter, compared with a loss of 62 cents in the year-earlier period. Excluding items, the office-supply retailer earned 48 cents a share compared with 7 cents. From continuing operations, OfficeMax earned 71 cents. Sales fell to $2.26 billion from $2.46 billion. Analysts, on average, expected it to earn 40 cents on revenue of $2.31 billion, according to Thomson Financial. In the retail segment, sales at stores open at least one year fell 0.4%.
PDL BioPharma Inc. (NasdaqGS:PDLI - News) reported that its fourth-quarter net loss widened to 78 cents a share from 31 cents in the year-earlier quarter. Excluding one-time items, the Fremont, Calif., biopharmaceutical company earned 5 cents a share. Revenue climbed to $107.8 million from $83.7 million. For 2007, PDL forecast earnings of 38 cents to 54 cents a share on revenue of $450 million to $500 million. Wall Street is currently forecasting 64 cents on revenue of $495.7 million.

Published By MarketWatch

Labels: AD, ADI, AEM, AMIE, ARW, CUK, ESV, FBR, FDC, GMR, HRH, HS, IDGR, JCP, MCRI, MOCC, NSM, OMX, PDLI, POS

Best Buy (NYSE: BBY - News), Circuit City (NYSE: CC - News), Exxon (NYSE: XOM - News), Apple (Other OTC: APPL.PK - News), Oracle (NASDAQ: ORCL - News), Fed EX (NYSE: FDX - News), Altria (NYSE: MO - News), Colgate (NYSE: CL - News), Procter & Gamble (NYSE: PG - News), Toyota Motor (NYSE: TM - News), New York Stock Exchange (NYSE: NYX - News), Goldman Sachs (NYSE: GS - News), Ford (NYSE: F - News), Sotheby's (NYSE: BID - News), Bank of America (NYSE: BAC - News), Valassis Communications' (NYSE: VCI - News), Advo (NYSE: AD - News): Cramer observed that the performance of BBY and CC is an indication of strong consumer spending, adding: "As soon as you cut price for anything in this market, the consumer is ready." Since CC is losing a lot of its TV sales to BBY, Cramer suggests buying BBY. Cramer attributes the reverse in the market (although oil is up) to end of the year buying and that Monday's sellers are finished; "Do not forget how little stock there is around. So when the futures trade up, they are able to move absolutely everything." Cramer noted that futures did trade up and added that he would pick up oils like Exxon, since mutual funds are doing the same thing. He recommends buying Apple at $86, Oracle, and FedEx after it comes down, and says that the reason he is interested in these "broken situations" is that "Everyone needs a bargain to get in because then they feel like they've missed it. They don't want to show that they don't have enough equity in an unbelievable Dow year." Cramer noted that many companies reported that a weak dollar helped them in terms of translation, and believes that this is the reason Altria, Colgate and Procter and Gamble are too low. He suggests looking at TM, NYX and GS, adding that GS can ramp as the window is stil open to sell, that it had a great quarter and is cheaper than comparable stocks. He thinks that the NYX's merger with Euronext will be worthwhile in spite of the lack of sponsorship. Cramer warns against Ford upgrades because the company has to do some banking. He commented that BID looks cheap, BAC gave a good report and that VCI's merger with AD is at the right price.
Published By SeekingAlpha

Labels: AAPL, AD, BAC, BBY, bid, CC, CL, F, FDX, GS, Jim Cramer, Market Minute, MO, NYX, ORCL, PG, TM, VCI, XOM