Jim Cramer Blog

Buy Syngenta (SYT), Jim Cramer said on CNBC's "Stop Trading!" segment Monday.
Cramer said the Swiss agriculture company has been welcomed in Europe, unlike American companies. "I always felt that Europe had been very inhospitable to American biotechs," he said, calling Syngenta "one that they embrace." The stock is a "great buy," he said.
Cramer pointed out that Syngenta is off its highs. Because Bunge (BG), Monsanto (MON) and Syngenta all trade alike, "Anytime you get a discount in one, I'd pull the trigger," he said.
In energy, Cramer recommended ABB Ltd. (ABB). Cramer said that presidential candidate John McCain has left nuclear power as "really the only option" he supports. "ABB is the nuclear company from around the globe," he said.
Cramer said that Deutsche Telekom (DT) ought to acquire Sprint Nextel (S). With "no growth" and a 7% yield, Cramer said, Deutsche Telekom should take advantage of Sprint's install base. "They need growth to get this thing energized," he said. "I don't know what the holdup is."
Of BP (BP), Cramer said that American investors are impressed with the company's new management. He said that BP's 4% yield is safe.
Published By TheStreet.com

Labels: ABB, BG, BP, DT, Jim Cramer, MON, S, Stop Trading, SYT

On Tuesday’s show, Cramer focused on green stocks that are good investments. Cramer reviewed his green picks from back in April to see how they had done since then.
Shaw Group (SGR): It is up 143% from about $30 to $74 since April.
Foster-Wheeler (FWLT): It is up 99% since April and had great earnings last quarter.
BorgWarner (BWA): It is up 38% since April, and Cramer thinks it will go higher because it has an increasing backlog.
OM Group (OMG): This is the only stock that is down since April, falling 5%. Cramer thinks the stock has started to bounce back from its lows already.
First Solar (FSLR): The stock has climbed 171% and Cramer is still bullish, but wants you to wait until after it reports earnings on Wednesday before buying more.
Fuel Tech (FTEK): This stock is up 35%, but guided down after reporting earnings Tuesday morning.
MEMC (WFR): This stock is up 20% since April and Cramer thinks the company will grow 52% over the next two years.
Tatra Tech (TTI): It is up 14% since April, and Cramer thinks it will keep going up slowly but steadily.
Cramer thinks every one of these stocks will go higher, and thinks that going green is good for business.
Cramer then went to the phone lines. The first caller asked about Zoltek (ZOLT), and Cramer said that although he recommended this stock a while ago he pulled out because he thought he was getting greedy. He now thinks this stock will keep going up. The second caller asked about BP (BP), and Cramer doesn’t think you can own this company because of its green initiatives. The next caller asked about SunPower (SPWR) and Cypress (CY), and Cramer said that Cypress is safer, but he likes both stocks.
The CEO of Wells Fargo (WFC) was on the show to talk about their alternative energy investments and positions, as well as the prospects. Cramer said this is the only banking stock he wants you to buy.
“Am I Diversified?”
The first email asked about UBS (UBS), and Cramer said that he has messed up with every financial pick he had made recently, and thinks you should wait until the stock hits $45 before you buy. The next email asked about Oceaneering International (OII), and Cramer said he didn't like the most recent earnings call. The next email asked if the recent investment in Tesoro (TSO) by Kirk Keorkian's was a bet that oil will drop, and Cramer said that could be right, but that TSO could drop if oil prices decline. The final email asked about lululemon (LULU), and Cramer said he wants nothing to do with the stock since it has gone up so much.

Labels: BP, BWA, CY, FSLR, FTEK, FWLT, Jim Cramer, Mad Money, OII, OMG, SGR, SPWR, TTI, UBS, WFR, ZOLT

Gilead Sciences (NasdaqGS: GILD):' ... at $81 - a nice little pullback.'Celgene (NasdaqGS: CELG): ' ... has not only not let us down, but now has a cure for the heartbreak of psoriasis.'Patterson-UTI Energy (NasdaqGS: PTEN): 'PTEN is a land driller and, I think, has room to catch up to King Halliburton.'Halliburton (NYSE: HAL - News)Saks (NYSE: SKS - News): 'If you add the $8 in dividends, plus the appreciation, we almost have a double right here. Let the stock come in ... I was not concerned about the gross margins. I think it's a chance to buy, but we only double down when things have been cut, and cut, and cut. You do a schnitzel, my friend, not a full buy.'Schering-Plough (NYSE: SGP - News): 'I should have taken half off, and let the rest run. My advice to you, to take half off and let the rest run. This stock's a double, but it's still going up.'BP (NYSE: BP - News): ' BP, with a 3+% yield... BP, with still some good properties, with the possibility that they're restructuring... I say you pull the trigger right here.'Cisco (NasdaqGS: CSCO): ''Lets just stick with Cisco.It's down three straight points. That's the better... I like best of breed.'RadioShack (NYSE: RSH - News): ' ... give Julian Day the benefit of the doubt. He's the CEO ... He's rationalizing the stores... He is making it so it's a profitable enterprise. The answer is: Stay long!'
Bearish calls:
RH Donnelley (NYSE: RHD - News): 'It's been too high. I've watched the private equity rumor, over and over again. There's been too much hype in the name... I want to sell RHD.'Geron (NasdaqGM: GERN):'Stem cell speculation... Not for me. Sell, sell, sell! I don't want to come near it. It's up too high.'Tellabs (NasdaqGS: TLAB): 'TLAB's was one of the worst quarters I have heard.'Marvell Technology (NasdaqGS: MRVL): ' ... when you look at a stock like MRVL, I bought it... What was I doing? The financials weren't clean. There is a sign on my desk... and what it says is... Accounting irregularities equals sell. Did I look at that before I bought the stock? I did not.'Sally Beauty Holdings (NYSE: SBH - News): 'It's a 'don't buy, don't buy...' I didn't like their quarter. I did take a hard look at it though.'Crystallex (AMEX: KRY - News): 'No. Chavez don't give a darn about his people... sell, sell, sell! I want you out of that stock now. Enough with him. Enough with that country, unless they come around to our ways.'SunPower (NasdaqGM: SPWR)
Published by SeekingAlpha

Labels: BP, CELG, GERN, GILD, HAL, Jim Cramer, KRY, Lightning Round, MRVL, PTEN, RHD, RSH, SBH, SGP, SKS, SPWR, TLAB

Gol Linhas Aereas Inteligentes (NYSE: GOL - News)
"Monopolistic, anti-competitive behavior is now in style in Brazil!" declared Cramer, who is bullish on GOL, a Brazilian airline which is acquiring its long-time competitor, Varig, after it went "belly up." At less than $100 million in cash, Varig was a bargain, and Cramer thinks the acquisition should send GOL up 30% in a straight line to $40. While Wednesday's 10% increase would otherwise inspire caution, Cramer does not think investors should wait for GOL to pull back, but would go ahead and buy; "We're in 'never-look-back-ville'!"

Benefit of the Doubt: Polo Ralph Lauren (NYSE: RL - News) COO Roger Farah, and Saks' (NYSE: SKS - News) Steve Sadove and Ron Frasch
Next on Cramer's list of executives who deserve the benefit of the doubt is RL's COO Roger Farah. While CEO Ralph Lauren is a "visionary" Cramer credits Farah for breathing new life in the brand "which had been spread out, truncated, over-licensed and diluted... and he turned it back into a powerhouse." Cramer likes RL because it is "the ultimate high-end play" and should have 12% to 15% growth. He also praised the company for purchasing the rest of Polo.com. However, market players turned on Farah after RL's fantastic quarter because they suspected him of guiding down estimates. In spite of Farah's assurances, the stock is still down, although it has recovered somewhat, and Cramer would stay with RL. He also likes SKS CEO Steve Sadove because he "keeps the money coming in" and its vice chairman and chief merchant Ron Frasch who is a"merchandizing genius," according to Cramer.

Sell Block: Syntax-Brillian Corp. (NasdaqGM: BRLC), AT&T (NYSE: T - News), Verizon (NYSE: VZ - News), BP (NYSE: BP - News), Exxon Mobil (NYSE: XOM - News), Transocean (NYSE: RIG - News), Movado (NYSE: MOV - News), BigBand Networks (NasdaqGM: BBND), Sourcefire (NasdaqGM: FIRE), Glu Mobile (NasdaqGM: GLUU), Aruba Networks (NasdaqGM: ARUN), Clearwire (NasdaqGS: CLWR), ETelecare (NasdaqGM: ETEL)
No matter how much he likes BRLC's story, he would sell the stock after CEO Vincent Solitto touted his company on Mad Money but failed to mention that he raised $15.5 million through a side deal which involved issuing shares at a special price "To me, it was galling... it was disspiriting," said Cramer; "Syntax-Brillian?... I don't like your style." Cramer would trade some T for VZ because VZ is less expensive and has a higher yield. He also suggested selling BP and picking up XOM "if you absolutely have to own an integrated" or RIG. He mentioned MOV has a good entry point at $28.74. Cramer gave an update on IPOs, saying he still likes BBND which he would buy it on any weakness, but suggests schnitzeling out of (selling the profits from) FIRE. He still doesn't like GLUU or ARUN. Cramer says CLWR is "on sale" now that it is settled into the $20-$21 range. Finally, Cramer would take profits from ETEL on any strength, since it has increased substantially.
CEO Interview: Scott Huennekens, Volcano (NasdaqGM: VOLC) with General Electric (NYSE: GE - News), Koninklijke Philips Electronics (NYSE: PHG - News)
Cramer asked Scott Huennekens to explain VOLC's agreements with GE and PHG; "GE has rights to one version of our product that it can integrate into its cath lab, and earlier this week we announced the deal with Philips for another version। So as we move forward, GE is going to have exclusivity to the advanced functionality version of the product, and the lower functionality version will also be incorporated onto Philips and other larger manufacturer systems," Huennekens said. He envisions every cath lab with an Ivus machine in it as the need to visualize arteries through less invasive approaches increases. Cramer gave VOLC a triple buy.
Published By SeekingAlpha

Labels: BP, CLWR, ETEL, GE, GLUU, GOL, Jim Cramer, Mad Money, MOV, PHG, RIG, RL, SKS, VOLC, VZ, XOM

Oil is Well: BP (NYSE: BP - News), Exxon Mobil (NYSE: XOM - News), ConocoPhillips (NYSE: COP - News), Chevron (NYSE: CVX - News), Schlumberger (NYSE: SLB - News), National Oilwell Varco (NYSE: NOV - News), GlobalSantaFe (NYSE: GSF - News), Halliburton (NYSE: HAL - News), KBR (NYSE: KBR - News) and Transocean (NYSE: RIG - News)
Cramer sees buying opportunity in the oil sector because market players are "not looking at the right things" but are instead paying attention to weather and inventory numbers. "Base your decisions on how its customers are doing," urged Cramer, saying earnings are not a good indicator right now, and the only major integrated oil he is recommending is BP, based on its yield rather than its earnings. "The only safe and profitable place to be" is drilling, commented Cramer, and he cited a XOM statement that it had been too conservative with oil production and said he expects to hear the same thing from COP and CVX. Cramer would buy deepwater drillers ahead of analyst meetings, picked only five worth owning in 2007 and ranked them in descending order.
5. Schlumberger: an undervalued stock4. National Oilwell Varco: The only company that develops rigs that dig deeply enough. NOV has "years of backlog" which should keep estimates up.3. Global Santa Fe: has an aggressive buyback2. Halliburton: Although many do not like the company's move to Dubai, Cramer feels it is a necessary strategy to gain back market share from SLB. He predicts HAL will "jump up fast" on a tender offer because of its KBR spinoff. He would hold HAL after the spinoff.1. Transocean: "How can you not own a rig stock that's called RIG?" Cramer said of his number one oil-drilling pick, and added that day rates are "skyrocketing," RIG is a good takeover or merger target, and since options expiration is coming up, "this stock is going to end at $75 at the end of the week," which Cramer feels is a good entry point. On Monday, RIG was sitting at $76.62. Hansen Medical (NasdaqGM: HNSN), Intuitive Surgical (NasdaqGS: ISRG) and Stereotaxis (NasdaqGM: STXS)
Hansen Medical could be "the next Intuitive Surgical," a stock which has risen 1, 124 %since its IPO in 2000, says Cramer, and he says subpharma is the place to be since it is immune from subprime problems. HNSN makes robotic catheters that are easy to maneuver, has a "big target market," and although its machine hasn't been approved yet, Cramer believes it will be approved first in Europe and then in America by the end of the year. Although the company is losing money "hand over fist" and does not yet have any revenues, Cramer would buy the stock, albeit with tight limit orders and only after doing homework. Although HNSN does not quite have a monopoly, its machine is cheaper than that of its sole rival STXS.
Mad Mail: Altria (NYSE: MO - News) and Celgene (NasdaqGS: CELG)
Cramer suggested owning the regular Altria stock instead of the new MO-issued shares, but told investors to wait until he did a segment on the stock. He urged an investor who sold CELG to buy it back.
Published by SeekingAlpha

Labels: BP, COP, CVX, GSF, HAL, Jim Cramer, KBR, Mad Money, MO, NOV, RIG, SLB, XOM

Through the Grapevine: Wells Fargo (NYSE: WFC - News), MBIA (NYSE: MBI - News) and CIT Group (NYSE: CIT - News)
Cramer concedes when things get ugly "it's the rumors that drive the market." Wall Street gossip about the so-called reckless subprime lending of WFC, MBI and CIT was unjust, according to Cramer; "If you missed today's rally, I want you to know who kept you away," he said. When a good stock gets a bad name, it is a sign of the end of a bear raid and he adds financials are bottoming. Cramer is giving WFC the "benefit of the doubt" and does not see any justification in attacking MBI and CIT. He noted these stocks now have a good entry point.

Rubble Stock: General Cable (NYSE: BGC - News)
Cramer is devoting a daily segment to picking up good stocks from the rubble. Although BGC has just gone up, "it's pulled back enough to be a triple buy," reported a "phenomenal quarter" last month with good guidance, and has orders still outstanding from the blackout in New York City four years ago. BGC is also a supplier for triple play and has moderate raw costs, which will mean solid gross margins. Cramer would buy the stock now, but for the cautious, he suggests picking up some now and buying the rest on any weakness.
The 4% Club: Packaging Corp. of America (NYSE: PKG - News) and BP (NYSE: BP - News)
While most investors search for stocks which have upside potential, Cramer says it is also important to find protection against an unexpected downside. "Tonight I'm going to initiate a couple of stocks into the 4% yield club:" BP, his favorite, and PKG. Cramer notes PKG has low margins, should attract private equity interest, benefits from reduced energy costs and has a 4% yield. BP has a 4.1% yield, is the cheapest in its group and is now adopting an "underpromise, overdeliver" strategy.

CEO Interview: Jerry Kennelly, Riverbed Technology (NasdaqGM: RVBD)
Jerry Kennelly said RVBD produced a profit for the first time and "blew away the revenue guidance." When Cramer asked about the lockup expiration set for March 19, Kennelly responded, "It's no longer 59 million," he said. "Half the shares got pushed out to early May, and the half that will expire are a good portion owned by insiders." He added that since March 19 is a blackout trading period, he doesn't think RVBD will get hit. Cramer commented "It's time to buy Riverbed."

Published By SeekingAlpha

Labels: BGC, BP, CIT, MBI, PKG, RVBD, WFC

Mad Mergers: Sirius Satellite Radio (NasdaqGS: SIRI) and XM Radio (NasdaqGS: XMSR)
Cramer smells "desperation" in the intended merger between SIRI and XMSR, and predicts that there will be a spate of anticompetitive mergers ahead of the possibility of a Democrat winning the White House, an event which would discourage future monolopistic mergers. Cramer dedicated the program to discussing ten likely scenarios.
10. Kroger (NYSE: KR - News) and Safeway (NYSE: SWY - News)9. Laboratory Corp. (NYSE: LH - News) and Quest Diagnostics (NYSE: DGX - News): Cramer notes that these two companies have been "locked in a ferocious price war to win the HMO business." Their slashed prices have meant less profits, and "it is time for them to get on the anticompetitive bus."8. Carnival (NYSE: CCL - News) and Royal Carribbean (NYSE: RCL - News)7. Office Depot (NYSE: ODP - News) and Office Max (NYSE: OMX - News)6. Cardinal Health (NYSE: CAH - News) and McKesson (NYSE: MCK - News): Cramer notes that drug distributors have "been at war for wages" hurting themselves by lowering prices. He sees some major mergers in the sector for the next couple of years.5. BP (NYSE: BP - News) and Chevron (NYSE: CVX - News): BP would do well to merge with CVX, according to Cramer, because of CVX's excellent management.4. Lockheed Martin (NYSE: LMT - News) and Northrop Grunman (NYSE: NOC - News): Cramer notes that this merger is likely because the Pentagon doesn't want a lot of vendors.3. Comcast (NasdaqGS: CMCSA) and Time Warner (NYSE: TWX - News)2. Gannett (NYSE: GCI - News) and McClatchy (NYSE: MNI - News): Cramer believes that this merger is essential because it could "save the newspaper business."1. Union Pacific (NYSE: UNP - News) and Burlington Northern (NYSE: BNI - News): Cramer says that this is his favorite possible merger.
Cramer also sees Norfolk Southern (NYSE: NSC - News) and CSX (NYSE: CSX - News) pairing up, and describes all of these possibilities as "a wave of mergers that will be great for profits."

Labels: BNI, BP, CAH, CCL, CVX, DGX, Jim Cramer, KR, LH, LMT, Mad Money, MCK, ODP, OMX, RCL, SIRI, SWY, TWX, UNP, XMSR

Stocks traded flat for most of the session before closing with fractional gains. Hewlett-Packard (NYSE: HPQ - News) weighed on both the Dow Jones and Nasdaq indices today. Many technology stocks also treaded water ahead of an earnings report from Cisco Systems (Nasdaq: CSCO - News) and reduced guidance from chipmaker National Semiconductor (NYSE: NSM - News). The 10-year Treasury note moved higher, cutting the yield to 4.78%, while an earlier sharp rise in the price of crude was trimmed to a modest gain for the day.
After the market closed, Cisco reported that fiscal Q2 net income increased 40% on a 27% increase in sales. The maker of routers and other gear for the Internet reported earnings of $1.9 billion, or 31 cents a share, for the quarter ended January 27th, against earnings of $1.4 billion, or 22 cents per share, in the same period last year. Last night, National Semiconductor cut its fiscal Q3 revenue forecast to a decline of -14% to -15% sequentially. The company had previously forecast a revenue decline of between -8% to -11%.
Weakness in Hewlett-Packard was attributed to an announcement from Eastman Kodak (NYSE: EK - News) that it would introduce its first line of inkjet printers that will retail for somewhat higher prices than printers from other manufacturers, but Kodak will dramatically cut the prices it charges for replacement ink cartridges. Most printer makers have followed the "razor and blade" model whereby they sell the printers at a low price and make the majority of their profits on replacement ink. According to analysts, the Kodak model would sharply cut price-per-page costs if it catches on with consumers.
Oil producer BP (NYSE: BP - News) reported that Q4 adjusted net profit declined -22% to $2.9 billion, from $3.7 billion a year ago, hurt by declining oil and gas prices and reduced output. Its adjusted net profit measures earnings before extraordinary items and excludes changes in the value of inventories. Revenue rose nearly 12% to $274 billion from $245 billion. In addition to falling oil prices, BP also has had to ratchet up its capital spending to address safety and other operational problems following a spill at an Alaska oil pipeline and an explosion at a BP refinery in Texas that killed 15 people.
Online retailer Overstock.com (Nasdaq: OSTK - News) surged 22% even though the company missed its Q4 earnings target by a wide margin. The company reported a quarterly loss of -$1.92 per share compared with analyst estimates for a loss of -85 cents per share. The stock's rise was attributed to analysts concluding that Overstock was bottoming out operationally and had nowhere to go but up. First Albany raised its rating to "neutral" from "sell."
Household products maker Church & Dwight (NYSE: CHD - News) gained 4% to a 52-week high after reporting better-than-expected Q4 results. The company's Q4 net increased 47% to $24 million, or 36 cents per share, from $16 million, or 25 cents per share, a year earlier. Avon Products (NYSE: AVP - News) climbed 10% after the maker of personal care products reported profits that beat Wall Street estimates. Finally, shares of Tyco (NYSE: TYC - News) slipped in spite of a 43% rise in fiscal Q1 profit. Subscribers can read our analysis of Tyco's results in today's issue.
By Bullmarket.com Staff

Labels: AVP, BP, CHD, CSCO, EK, HPQ, NSM, OSTK, TYC

Major market indices battle to finish in the black, but not by much. The Dow ($INDU) ended the session with a gain of 4.57 points to 12,666.31. The S&P 500 ($SPX) added just 1.01 points to 1,448.00. The NASDAQ ($COMPQ) was virtually flat, up just 0.89 points to close at 2,471.49. Volume was moderate with the NYSE trading 1.47 billion shares and the Naz turning over 2.15 billion. Market breadth was positive by a 21-to-12 and 17-to-13 ratio on the Big Board and Naz respectively.A lack of economic news and a slowdown in earnings data has create lethargy for stocks. This makes sense given the strength in stocks last week. The fact is that a correction is due, but with so much liquidity, buying occurs on every dip. Today’s move off the session lows occurred as oil prices fell off resistance at $60 a barrel. Crude has been on the rise, but this resistance has held to date. Nonetheless, if this area is broken it could give traders a reason to sell. Overall, crude prices rose just 14-cents on the session to close at $58.88. Oil giant BP (BP) saw its shares drop 0.8 percent after the firm reported that profits fell 22 percent in the quarter. The company also lowered guidance going forward. BP is one of the Big Three oil companies, but its results were the worst of the three with Exxon Mobile (XOM) and Chevron (CVX) seeing a drop in results, but not to the extent BP saw. The chip sector saw weakness Tuesday after National Semiconductor (NSM) lowered its outlook for the third quarter. NSM sees revenue falling by 15 percent in the quarter from the second quarter on lower shipments. As a result, the stock fell 2.7 percent to close at $22.68. Overall, the Philly Semiconductor Index ($SOX) fell half a percent on the session. One of the largest movers on the session was Globalstar Inc (GSAT). This stock fell 28.2 percent after it was downgrade due to a regulatory filing that stated the company was having problems with several of its satellites. Another large mover was Overstock.com (OSTK), which gained 22.1 percent on the session. Ironically, the discount retailer had such a bad quarter that analyst’s feel it has bottomed and can only get better from here. After the bell, Cisco (CSCO) reported better than expected earnings on a 40 percent rise in profits. The networking giant saw its shares fall 0.8 percent in the regular session, but they are up nearly five percent after hours. This should set up a strong opening for tech sector on Wednesday.
Jody Osborne

Labels: BP, CSCO, CVX, GSAT, NSM, OSTK, SOX, XOM

Wall Street eked out a modest advance Tuesday after investors found little motivation in remarks by Federal Reserve officials and also shrugged off a warning from chip maker National Semiconductor Inc.
Major indexes squeaked by with gains after spending most of the session extending Monday's losses. Investors have been left looking for direction after the Fed held interest rates steady last week, and as corporate earnings season winds down.
Fed Chairman Ben Bernanke did not address interest rates when he spoke before the Omaha Chamber of Commerce. Similarly, speeches by two other central bankers and Treasury Secretary Henry Paulson also had little news to sway investors.
National Semi warned that sales will fall steeper than expected; the news initially cast a shadow across the market, but by the close of trading, even the tech-dominated Nasdaq composite index had recovered.
"I get the sense investors are waiting to see what the market is going to do next, and aren't entirely convinced that a slight pullback is going to manifest itself," said Mike Malone, trading analyst at Cowen & Co. "There really wasn't any expectation that something would come from Bernanke. But the fact its over leaves investors looking around for what's next."
According to preliminary calculations, the Dow rose 4.57, or 0.04 percent, to 12,666.31.
Broader stock indicators finished narrowly higher. The Standard & Poor's 500 index added 1.01, or 0.07 percent, to 1,448.00, and the Nasdaq rose 0.89, or 0.04 percent, to 2,471.49.
Stocks got some support from a decline in bond yields as fixed-income investors place bets on where interest rates are headed. The bond market had hoped to glean more from speeches by Bernanke and Treasury Secretary Henry Paulson.
The yield on the benchmark 10-year Treasury note fell to 4.77 percent from 4.81 percent late Monday. The dollar was lower against other major currencies, while gold prices advanced.
Oil prices continued to climb on concerns that a blast of arctic weather in the Midwest and Northeast might linger, and drive up demand for heating fuel. A barrel of light sweet crude rose 14 cents to $58.88 on the New York Mercantile Exchange.
A jump in demand could lead to higher energy costs, but also greater profits for energy producers. However, any benefit to big oil companies was offset by disappointing results from BP PLC.
Britain's biggest refiner fell 54 cents to $63.25 after reporting fourth-quarter profit slipped 22 percent, and slashed its growth targets for this year. Anadarko Petroleum Corp. shares fell 48 cents to $42.47 after it said fourth-quarter profit doubled due to a one-time gain on the sale of a Canadian unit.
Exxon Mobil Corp., a component of the Dow Jones industrials, fell 21 cents to $75.46, while Chevron Corp. shed 41 cents to $73.37.
Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds, said investors will be looking at further fluctuations in the energy sector as one way the market might pick a direction. He also said there will be continued scrutiny over corporate earnings, although many major companies have already reported.
"The market is not expensive, it's not dirt cheap, and the catalyst over the past few weeks has been earnings," he said. "Everything is really on hold until the market finds something else to talk about, but there's still no huge sign of an imminent pullback."
Technology stocks were among the market's biggest decliners, led by the semiconductor sector. National Semi fell 64 cents, or 2.8 percent, to $22.68 after it predicted lower-than-expected sales in the third quarter because of lower shipments to the Asia Pacific region.
Rival Advanced Micro Devices Inc. fell 28 cents to $15.32, while Texas Instruments Inc. shed 37 cents to $31.22. Intel Corp., the worlds largest chip maker for personal computers, rose 3 cents to $21.31.
In other corporate news, Avon Products Inc. rose $3.38, or 9.8 percent, to $38 after the maker of beauty products said its fourth-quarter profit edged up from a year ago as the company struggled with restructuring costs.
McClatchy Co., the nation's second-largest newspaper publisher, rose 53 cents to $39.29 after its operating earnings surpassed Wall Street projections.
Las Vegas Sands Corp. fell $3.41, or 3.3 percent to $100.68 after the casino company reported fourth-quarter profit was boosted by an unexpected $30 million gain from its high-rollers table. Advancing issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to 1.47 billion shares.
The Russell 2000 index of smaller companies rose 3.34, or 0.41 percent, to 810.03. The index surpassed 800 for the first time last week, and reached an all-time high of 810.49 in the previous session.
Overseas, Japan's Nikkei stock average closed up 0.36 percent. At the close, Britain's FTSE 100 was up 0.45 percent, Germany's DAX index added 0.02 percent, and France's CAC-40 fell 0.08 percent.
Published by Joe Bel Bruno, AP Business Writer

Labels: APC, AVP, Ben Bernanke, BP, CVX, INTC, LVS, MNI, TXN, XOM

Stocks are experiencing minor losses, led by declines in the tech sector. Earnings season is winding down, but traders are waiting for a key report from Cisco (CSCO) after the bell. Shares of BP (BP) are lower on the session after announcing a drop in earnings. Oil prices remain a topic of discussion Tuesday as well with crude moving back toward the $60 level once again. Though it seems stocks are ripe for a correction, the bulls just won’t let a major decline get started. Crude prices have moved higher Tuesday along with heating oil prices. The fact temperatures across the Northeast are so cold has convinced many traders that demand will be strong, hurting current supplies. However, just like Monday’s session, crude has found resistance at $60 and has come off its morning highs. The concern is that if $60 is broken, it could create worries that could lead to selling in the stock market. Energy giant BP announced that its earnings fell during the quarter and came in at their lowest level in two years. The company also lowered its forecasts for 2007 and even stated that growth would be light heading into the end of the decade. This is down from estimates in the past calling for 4 percent annualized growth. Nonetheless, BP shares are down less than one percent on the session, trading just above $63. After the bell today, networking giant Cisco will announce its quarterly report. The company is expected to report earnings of 28-cents a share, which would be earnings growth of just under 10 percent. CSCO shares have performed quite well the past six months, up nearly 60 percent and this could create some selling on the news unless the results are spectacular. Chip stocks have been under pressure Tuesday after National Semiconductor (NSM) cut its revenue forecast. The company is blaming lower than expected shipment in Asia as the cause. This news has pushed NSM shares down four percent and has taken the Philly Semiconductor Index ($SOX) down 1.5 percent. Chip giant Intel (INTC) is also suffering on the session, down nearly one percent. Though economic news will be rather light this week, several Fed speeches this afternoon could garner attention. San Francisco Fed President Janet Yellen, Chicago Fed President Michael Moskow and Treasury Secretary Henry Paulson will all speak today. However, it will be a speech by Fed Chairman Ben Bernanke that will garner most the attention.
Jody Osborne

Labels: BP, CSCO, INTC, NSM

Advanced Micro Devices (NYSE: AMD - News), Intel (NASDAQ: INTC - News), Dell (NASDAQ: DELL - News), Hewlett-Packard (NYSE: HPQ - News): Commenting on the price war between AMD and INTC, Cramer says that the winner will be the one with the most chips, which he predicts will be HPQ. Although Cramer says all chip consumers will go up, he warns that Dell is a "challenged company." Cramer gives CEO Mark Hurd credit for cutting costs, and believes that once Vista is launced, HPQ will have PCs they can sell, and not just printers. He thinks that stock will go from $43.40 to $45.
Conco Philips (NYSE: COP - News), BP (NYSE: BP - News): Cramer advises COP to "save your money" concerning its planned buyback, and says the company would be better off increasing its dividend, but he doubts that they will. Cramer called BP's departing CEO Lord Browne a "serial polluter of the environment" and a "virtual Hamlet."
Google (NASDAQ: GOOG - News): Cramer notes that Google will go up from $503 to $513 which he calls a "magic level" because he sees a short squeeze coming. Once that happens it's "off to the races" to $520.
Intel (NASDAQ: INTC - News), Microsoft (NASDAQ: MSFT - News), F5 Networks (NASDAQ: FFIV - News), Omniture (NASDAQ: OMTR - News), Akamai Technologies (NASDAQ: AKAM - News), Level 3 Communications (NASDAQ: LVLT - News): Cramer comments that tech is product-driven and INTC can go back down on any kind of guidance. Cramer predicts some good quarters with Microsoft breaking through the $30 strike, and he gives the entire sector, which will be "up up and away" with the Vista launch, two thumbs up. The "FFIV" complex of OMTR, FFIV, AKAM are hot, comments Cramer who says that LVLT is in the midst of a "virtuous cycle" by issuing large amounts of stock to take out convertible bonds, and he believes the company will be cash positive in 2007.

Labels: AKAM, AMD, BP, COP, DELL, FFIV, GOOG, HPQ, INTC, Jim Cramer, Jim Cramer's Stop Trading, LVLT, MSFT, OMTR

AsiaInfo (NASDAQ:ASIA - News) shares closed up more than 8% after the company disclosed it's signed a contract with China Unicom to develop a push mail mobile e-mail system. Financial terms weren't disclosed.
BP plc (NYSE:BP - News) shares rose 5% after it said John Browne would step down as chief executive of the embattled oil giant more than a year earlier than planned, and tapped Tony Hayward, the head of its exploration and production division, to run Europe's largest oil producer.
Culp Inc. (NYSE:CFI - News) shares jumped more than 9% after it agreed to purchase the mattress fabrics product line of Burlington House from International Textile Group (OTC BB:ITXN.OB - News) for $2.5 million in cash and about 880,000 common shares.
Force Protection Inc. (OTC BB:FRPT.OB - News) shares climbed 7.5% after it was initiated with a buy rating at SunTrust Robinson Humphrey. The firm set a price target for the stock at $31.
Napster (NASDAQ:NAPS - News) shares gained almost 8% after it was selected to become the exclusive music subscription provider for AOL Music.
Owens-Illinois Inc. (NYSE:OI - News) shares added about 7% after it said it's hired Goldman Sachs as an advisor as it reviews strategic options for its plastics packaging business. The Perrysburg, Ill.-based company said the options include a possible sale of the business, which posted revenue of about $770 million for the 12 months ended Sept. 30.
Pacific Internet Ltd. (NASDAQ:PCNTF - News) shares leapt 10% after Connect Holdings Ltd. said it plans to make a voluntary conditional general offer to acquire the company in a cash deal valuing shares at $10 each.
Phazar Corp. (NASDAQ:ANTP - News) shares soared almost 28% after the Fort Worth, Texas-based antenna maker reported second-quarter earnings of $205,716, or 9 cents a share, on sales of about $1.6 million. In the same period a year earlier, the company earned $698,773, or 31 cents a share, on sales of $3.8 million.
Sirius Satellite (NASDAQ:SIRI - News) shares rose 5.1% while XM Satellite Radio (NASDAQ:XMSR - News) stock gained about 4.5% after the New York Daily News reported that speculation about a merger of the companies is growing. The paper cited comments from executives Mel Karmazin of Sirius and Gary Parsons of XM at a conference in Las Vegas that a deal makes sense.
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Labels: ANTP, ASIA, BP, CFI, FRPT, ITXN, NAPS, OI, PCNTF, SIRI, XMSR

Active Power Inc. (NASDAQ:ACPW - News) said it's conducting an internal review of the company's historical stock option grants and related procedures and accounting. This review will cover all option grants made since the time of its initial public offering in August 2000 to the present. This review will be supervised by a committee of the company's board. The company also has voluntarily disclosed, or self reported, that it is undertaking this review to the Securities and Exchange Commission. The company currently anticipates that this review should be completed before the due date for its Annual Report on Form 10-K for the year ended Dec. 31, 2006.
Adaptec (NASDAQ:ADPT - News) shares slumped after the Milpitas, Calif., storage technology products provider forecast a non-GAAP (generally accepted accounting principles) loss of 2 to 5 cents a share for the third quarter on revenue of between $60 million and $61 million. The company said the revenue view was lower than expected due to a significant decrease in revenue from IBM (NYSE:IBM - News), its largest original equipment manufacturer customer.
ArthroCare Corp. (NASDAQ:ARTC - News) said it expects fourth-quarter earnings of 29 cents a share on revenue of $69.7 million.
Ashford Hospitality Trust (NYSE:AHT - News) was downgraded to underweight from equal-weight at Morgan Stanley.
Bp Plc (NYSE:BP - News) shares dipped after Bear Stearns lowered its rating on the company to peer perform from outperform.
Brightpoint (NASDAQ:CELL - News) was downgraded to hold at Jefferies & Co. The firm also cut its price target on the stock to $12.50 from $17.
Chevron Corp. (NYSE:CVX - News) warned that lower commodity prices and a decline in production and refining margins will hurt fourth-quarter earnings for the nation's No.2 oil company.
E-Z-EM Inc. (NASDAQ:EZEM - News) reported second-quarter net earnings of $1.8 million, or 16 cents a share, up 18% from $1.53 million, or 14 cents a share, during the year-ago period. The manufacturer of contrast agents for gastrointestinal radiology posted revenue of $34.2 million vs. $33.8 million.
Gap Inc. (NYSE:GPS - News) announced a series of management changes in its Gap and Old Navy divisions. Denise Johnston, president of Gap Adult, is leaving the company, effective Friday, the company said. Gap Brand North America President Cynthia Harriss will oversee the business until Johnston's successor is named. In addition, Karyn Hillman was named senior vice president of merchandising for Gap Adult. Hillman was previously senior vice president of apparel merchandising for Gap's Banana Republic division. Separately, San Francisco-based Gap said Ivy Ross, Old Navy's executive vice president of product design, will leave the company effective Jan. 17. The design team will report to Old Navy President Dawn Robertson while the company searches for Ross' replacement.
Guitar Center Inc. (NASDAQ:GTRC - News) said it expects fourth-quarter income to be short of its prior outlook for $1.14 to $1.20 a share because of weaker-than-expected sales. Analysts' average estimate stands at $1.16 a share, according to Thomson First Call. For the fourth quarter ended Dec. 31, the Westlake Village, Calif., company said net sales rose 11.7% to $628.5 million. In November, Guitar Center forecast sales of $638 million to $650 million. Analysts' average estimate stands at $643 million in sales.
IBM shares slid after A.G. Edwards downgraded the Dow component to hold from buy, citing long-term sales growth potential and valuation. "In particular, we are concerned about IBM's recent lack of growth in bookings in its services business," Analyst David Wong said in a research note to clients.
Investment Technology Group (NYSE:ITG - News) said its December U.S. trading volume was 3.4 billion shares compared to 2.6 billion shares a year ago. Average daily volume in December rose to 171 million shares from 123 million shares in December 2005. The results fell from November 2006, when total volume was 3.7 billion shares and average daily volume was 175 million shares. "We continue to see strong momentum in our trading volumes as we enter 2007. In addition, our European revenues were higher than initially expected for the (fourth) quarter," CFO Howard Naphtali said.
J2 Global Communications (NASDAQ:JCOM - News) shares dropped after the company said in a Form 8-K filing with the Securities and Exchange Commission that it expects revenue of between $217 million and $229 million for fiscal 2007. The current average estimate of analysts polled by Thomson First Call is for revenue of $233.4 million for the period.
J. Crew Group (NYSE:JCG - News) filed to sell 7.5 million shares of its stock with a value of $283.3 million based on its Tuesday closing price of $37.77 a share. Goldman Sachs and Bear Stearns are underwriters of the offering. None of the proceeds of the deal will go toward the company. TPG Advisors, an entity aligned with private equity firm Texas Pacific Group, will be selling the stock.
Kenexa Corp. (NASDAQ:KNXA - News) said it expects to meet or slightly exceed its previously issued guidance for revenue and non-GAAP operating income in the quarter ended Dec. 31. Kenexa also said it intends to file a prospectus supplement with the Securities and Exchange Commission relating to an underwritten public offering of 3.75 million shares.
LeCroy (NASDAQ:LCRY - News) shares dropped after the company lowered its outlook for fiscal 2007 to reflect slower than expected order activity in December, particularly in the Asia-Pacific region. The Chestnut Ridge, N.Y., provider of serial test data products said it now sees revenue of $155 million to $160 million for fiscal 2007, compared to its previous projection for revenue of $170 million to $180 million.
NuCO2 (NASDAQ:NUCO - News) shares fell after the Stuart, Fla.-based company forecast fiscal 2007 earnings of 50 cents to 55 cents a share, down from its previous outlook of 80 cents to 85 cents a share. NuCO2 also forecast fiscal 2007 cash earnings of $1.15 to $1.20 a share and revenue of $130 million to $132 million. For 2008, the company forecast per-share earnings of 85 cents to 90 cents, or cash earnings of $1.65 to $1.70, and revenue growth of 7% to 8%. NuCO2, which supplies bulk CO2 systems and services, said it is putting in place a new strategic growth plan, and the company expects to see material benefits by the quarter ending June 30 and even more significantly in fiscal 2008.
Oxford Industries Inc. (NYSE:OXM - News) reported second-quarter net earnings of $12.2 million, or 68 cents a share, compared with $11 million, or 57 cents a share, in the same period last year, as sales rose. The Atlanta-based maker of private label apparel posted revenue of $291 million, up 4.7% from $277.9 million.
Ramtron International Corp. (NASDAQ:RMTR - News) shares tumbled after the Colorado Springs, Colo.-based semiconductor maker late Tuesday cut its fourth-quarter product revenue forecast to a range of $9.1 million to $9.2 million. The company had previously forecast product revenue of $10.2 million and $11.2 million. The company said the reduced forecast was largely due to an earthquake in Taiwan and severe weather in Colorado at the end of December, which impacted product shipments.
Shares of SLM Corp. (NYSE:SLM - News) fell as U.S. lawmakers prepared to introduce bills that would cut interest rates in half on student loans.A House vote is expected as early as Jan. 17. "Such legislation will be moving forward and its $6 billion price tag will be funded by the lenders who participate in the Federal Family Education Loan Program," Stanford Group Company analyst Jaret Seiberg wrote in a note Wednesday. That includes SLM Corp., the former government-sponsored enterprise commonly known as Sallie Mae.
Synnex Corp. (NYSE:SNX - News) said fourth-quarter net income rose, as revenue gained, to $15.6 million, or 48 cents a share, from $12.8 million, or 41 cents a share, during the same period in the prior year. Before items, quarterly per-share income rose to 50 cents from 41 cents in the prior year.
Tiffany & Co. (NYSE:TIF - News) said worldwide comparable store sales increased 7% during the period from Nov. 1 to Dec. 31. U.S. comparable store sales rose 8%. Total net sales increased 15% to $818 million. U.S. retail sales increased 12% to $432.4 million. The New York based jewelry retailer said the results exceeded expectations. The company predicts 2006 earnings of $1.82-$1.85 a share. Analysts surveyed by Thomson First Call forecast earnings of $1.82 a share, on average. The company expects 13%-15% growth in earnings per share in 2007 and low double-digit net sales growth.
WD-40 Co. (NASDAQ:WDFC - News) said first-quarter net earnings fell to $5.69 million, or 33 cents a share, from $7.51 million, or 45 cents a share, in the same period last year, as marketing and other expenses rose. The company posted revenue of $72 million, up 7% from $67.2 million last year.
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Labels: ACPW, ADPT, ARTC, BP, CELL, CVX, EZEM, GPS, GTRC, IBM, ITG, JCG, JCOM, KNXA, LCRY, NUCO, SLM, SNX, TIF, WDFC