Jim Cramer Blog

Corning (NYSE: GLW - News): ' ... you should be buying Corning (NYSE: GLW - News), which was unceremoniously dumped after a good quarter.'Lundin Mining (AMEX: LMC - News): 'All mineral stocks are getting hammered here... every single one of them ... There was just a huge amount of takeovers in this industry. Now they're dying down... You accumulate LMC... We like the combination copper, the lead... We like their product portfolio ... We have been right to buy. It will be no different this time.'NYSE Euronext (NYSE: NYX - News): 'I have been wrong so far... I believe fundamentally in the story. I can't change my view, because the fundamentals have borne me out... I am sorry, and I too am in the house of pain. I still believe though.'Prudential Financial (NYSE: PRU - News): 'They knocked it down $3 bucks... There were some concentrated raids on all the insurers ... they've got a gigantic portfolio... PRU is a great company. And it will not founder on subprime... one of the few financials I want to own!'Honeywell (NYSE: HON - News): 'There's a guy who runs that company... his name is Dave Cote. That man inspires a tremendous amount of confidence ... He's a transforming manager. He's generating a huge amount of cash... His order book is full. And I want to buy that stock right here.'Companhia Vale do Rio Doce (NYSE: RIO - News): 'This is a company that has a hammerlock on all the nickel in the world! I would not give up on these guys... As a matter of fact, any weakness ... Stocks that are up huge are getting register rung. It's the summer. That's what happens every year.'BHP Billiton (NYSE: BHP - News)Apple (NasdaqGS: AAPL - News): 'I think the raids are over. I think it's ready to resume its climb. I am not backing away from AAPL at $135. Now, when it got back to $145, please, let's do some schnitzelling (i.e., sell some).'Reliance Steel (NYSE: RS - News): 'I have been recommending Reliance Steel, which had a better quarter (than Nucor.'Chordiant Software (NasdaqGM: CHRD - News): 'They just reported a great quarter yesterday. It was great ... Let's ride that one a little bit more.'
Bearish calls:
Syntax-Brillian (NasdaqGM: BRLC - News): 'No, no! Don't buy, don't buy. Keep looking ... you should be buying Corning.'Kroger (NYSE: KR - News): 'Safeway, Kroger... They've not been recording good quarters. They've been hurt by food inflation... If it lifts, sell, sell, sell... I would trim it back.'Nucor (NYSE: NUE - News): 'I cannot get behind NUE. There are too many flies in the steel story now, with the potential slowdown in commercial real estate, if we don't get a Fed rate cut. 'Great Lakes Dredge & Dock (NasdaqGM: GLDD - News): ' ... that's one I can't go back to. That was a trade.'
Published by SeekingAlpha

Labels: AAPL, BHP, BRLC, CHRD, GLDD, GLW, HON, Jim Cramer, KR, Lightning Round, LMC, NUE, NYX, PRU, RIO, RS

Amerigroup (NYSE:AGP - News) reported that fourth-quarter net income more than doubled to $29.9 million, or 56 cents a share, from $12.9 million, or 25 cents a share, a year earlier. Excluding a pretax gain from net prior period amounts of $13.8 million, or 16 cents a share, earnings were $21.4 million, or 40 cents a share, in the latest fourth quarter. The Virginia Beach, Va., health-care services company said revenue increased 31% to $809.7 million from $620.3 million a year ago. On average, analysts polled by Thomson Financial predicted fourth-quarter earnings of 36 cents a share and revenue of $770.3 million. Analyst estimates typically exclude unusual items. The company also boosted its outlook for 2007 to earnings of $1.85 to $2 per share.

Anheuser-Busch (NYSE:BUD - News) shares rose following a published report that it's held merger talks with Belgian-Brazilian brewer InBev.
Armstrong World Industries (NYSE:AWI - News) said it's initiated a review of its strategic options. It's retained Lazard Freres as its financial advisor and Weil, Gotshal & Manges as its legal advisor in the process.
Avici Systems Inc. (NasdaqGM:AVCI - News) swung to a fourth-quarter net profit of $2.99 million, or 21 cents a share, boosted by strong product revenue growth. In the same period last year, the provider of networking equipment posted a net loss of $8.6 million, or 67 cents a share.
Barnes Group (NYSE:B - News) earned $18.5 million, or 34 cents a share in the fourth quarter, compared to $9.7 million, or 19 cents a share a year ago. Net sales for the period were $328.8 million versus $276.4 million a year ago. Analysts polled by Thomson Financial had expected the firm to earn 29 cents a share in the quarter. Barnes also said it expects full year earnings per share to be $1.53 to $1.60.
BEA Systems Inc. (NasdaqGS:BEAS - News) said it has uncovered instances where stock options granted to its executives and employees were not properly accounted for, and it will have to restate financial results from 1998 through fiscal 2007, and record expenses of $340 million to $390 million.
Beazer Homes USA Inc. (NYSE:BZH - News) said its general counsel, Kenneth J. Gary, was terminated "for a pattern of personal conduct which includes violations of company policies." The disclosure came in a regulatory filing, which did not detail the alleged violations.
Capella Education (NasdaqGM:CPLA - News) said its fourth-quarter net profit rose to $5.7 million, or 39 cents a share, from $3 million, or 25 cents a share. Revenue at the online education services group rose 20.7% to $50.6 million in the quarter. The company said growth was driven by a rise in enrollments, with the number of active learners rising 23% to around 18,000 for the year as a whole. Capella said for 2007 it expects enrollment and revenue to grow 18% to 19%, with operating margins expected to be 10.5% to 11.5% of revenue.
Caterpillar (NYSE:CAT - News) said its board approved a $7.5 billion stock repurchase program. The Peoria, Ill., maker of construction and mining equipment said it expects to complete the buyback within the next five years.
CenturyTel (NYSE:CTL - News) said its fourth-quarter net income fell to $72.2 million from $78.3 million, a year ago. On a per-share basis, earnings increased to 62 cents a share from 59 cents a year ago due to a higher number of shares outstanding in the year-ago quarter. Excluding items, earnings were 68 cents a share for the current quarter. A Thomson Financial survey of analysts, on average, predicted earnings of 64 cents a share for the quarter. Analyst estimates usually exclude items. The Monroe, La., integrated communications company revenue fell 2.1% to $607.7 million from $620.5 million. The company expects first-quarter earnings excluding items of 60 cents to 65 cents a share on revenue of $600 million to $610 million. Analysts forecast earnings of 63 cents a share for the quarter. Centurytel sees 2007 earnings excluding items of $2.60 to $2.70 a share. Wall Street projects earnings of $2.71 a share for the year.
Charles River Labs (NYSE:CRL - News) was upgraded to buy from hold at Jefferies & Co.
Chordiant Software (NasdaqGM:CHRD - News) shares gained after the Cupertino, Calif.-based company reported a fiscal first-quarter net loss of $10.7 million, or 14 cents a share, vs. a net loss of $1.77 million, or 2 cents a share, last year. Excluding certain items, the company posted a loss of $2.7 million, or 3 cents a share. Revenue rose to $22.9 million from $22.6 million. Analysts polled by Thomson Financial were expecting a per-share loss of 2 cents on revenue of $24.7 million. Chordiant raised its fiscal 2007 revenue forecast to a range of $120 million to $125 million.
Credit Suisse (NYSE:CS - News) said its CEO Oswald Grubel has decided to retire May 4. Grubel will be replaced by Brady Dougan, head of the bank's investment banking arm.
Diageo (NYSE:DEO - News) shares advanced after the company was able to lift its operating profit forecast for the year after increasing sales of Scotch whisky and beer to emerging markets and nabbing greater market share in the U.S.
Dobson Communications Corp. (NasdaqGS:DCEL - News) said it swung to a fourth-quarter net profit of $1.74 million, boosted by higher service revenue. In the same period last year, the provider of wireless phone services posted a net loss of $24.9 million.
EnPro Industries (NYSE:NPO - News) reported fourth-quarter earnings before items of $17.6 million, or 81 cents a share, on sales growth of 18%.
FTI Consulting (NYSE:FCN - News) shares gained after the Baltimore-based company posted fourth-quarter net earnings of $17.4 million, or 42 cents a share, down from $18.3 million, or 46 cents a share, in the year-ago period. Revenue in the three months ended Dec. 31 rose to $216.8 million from $165.7 million. Analysts polled by Thomson Financial were expecting a per-share profit of 37 cents on revenue of $194.4 million. FTI expects 2007 earnings of $1.74 to $1.84 a share. Analysts are looking for earnings of $1.76 a share.
Guess Inc. (NYSE:GES - News) blew the doors off earnings expectations by turning in a profit of $45.7 million, or 99 cents a share, a sharp turn from last year's income of $25.8 million, or 57 cents a share. The casual-apparel retailer said revenues surged 25% to $346.4 million.
Gymboree (NasdaqGS:GYMB - News) was initiated with a buy rating at Wedbush Morgan.
Hershey Foods Corp. (NYSE:HSY - News) detailed a three-year plan to change its supply chain operations, saying it expects a total net reduction of about 1,500 jobs. The Hershey, Pa., candy company expects to record pre-tax charges and non-recurring project implementation costs of between $525 million and $575 million from the program over the next three years, primarily in 2007 and 2008. The plan calls for a reduction in the number of production lines in use by more than one-third, the outsourcing of low value-added items and the construction of a production facility in Monterrey, Mexico. When the plan is completed, Hershey said about 80% of its production volume will take place in the U.S. and Canada. The company also reaffirmed its long-term goals for sales growth of 3% to 4% and growth in diluted earnings per share from operations of 9% to 11%. For 2007, however, it said it sees growth in diluted earnings per share from operations of 7% to 9%.

Published By MarketWatch

Labels: AGP, AVCI, AWI, B, BUD, BZH, CAT, CHRD, CPLA, CRL, CS, CTL, DCEL, DEO, FCN, GES, GYMB, HSY, NPO

Agrium (NYSE:AGU - News) was downgraded to neutral from buy at UBS.
Alphatec Holdings Inc. (NASDAQ:ATEC - News) said President and Chief Executive Ronald Hiscock has left the company, along with Chief Administrative Officer Vicky Romanoski. The Carlsbad, Calif.-based spinal device manufacturer provided no reason for the departure of the two executives. John Foster, Alphatec's executive chairman, is assuming the position of president and CEO.
Altair Nanotechnologies (NASDAQ:ALTI - News) shares dropped after the company reached a deal with institutional investors to raise $23.15 million in net proceeds, after fees and expenses, in a "registered direct" offering through the sale of its common shares and warrants. The Canadian developer of nanomaterial and titanium dioxide pigment technologies said it has also entered into subscription agreements, and has agreed to sell 9.26 million units, with each unit consisting of one common share and one warrant to purchase one-fourth of a share. The transaction's closing is scheduled for Dec. 18.
Argon ST (NASDAQ:STST - News) shares fell after the Fairfax, Va.-based developer of systems and sensors for signals intelligence reported fourth-quarter net earnings of $4.1 million, or 18 cents a share, down from $6.06 million, or 29 cents a share, in the year-ago period. Revenue fell to $66.1 million from $83.7 million. Analysts polled by Thomson First Call had forecast a per-share profit of 30 cents on revenue of $90.8 million. The company forecast fiscal 2007 revenue of $305 million to $325 million, and income from operations of $36 million to $39 million.
Beacon Roofing Supply (NASDAQ:BECN - News) reported fourth-quarter net earnings of $14.6 million, or 32 cents a share, up from $10.4 million, or 25 cents a share, on the year-ago period. Revenue jumped to $431.3 million from $231.2 million. Analysts polled by Thomson First Call had forecast a per-share profit of 33 cents on revenue of $405.8 million. "Although we have seen a slowdown in our business since the fourth quarter, when adjusting for five fewer business days than in the first quarter of 2006, our sales continued to grow slightly in the first quarter of fiscal year 2007 through November compared to the first quarter of 2006, considering that there has been no price inflation," said Robert Buck, president and chief executive, in a statement. "As a result, we are optimistic about 2007 and excited about our future."
Cal Dive (NYSE:DVR - News) shares fell in the company's stock market debut.
Chordiant (NASDAQ:CHRD - News) said it expects a fourth-quarter net loss of $8.4 million, and a loss of $7.1 million excluding stock-based compensation. The software company said it sees quarterly revenue of $21.7 million, up 2% from the same period in the prior year, while Wall Street is looking for $27 million.
Shares in EMI Group PLC plunged as the company confirmed that takeover talks with an unnamed bidder had ceased.
Shares of Encysive Pharmaceuticals (NASDAQ:ENCY - News) retreated as it emerged that the Food and Drug Administration still isn't satisfied with the company's application to market a prospective pulmonary drug.
Forest Laboratories (NYSE:FRX - News) agreed to buy privately-held Cerexa for $480 million in cash. Cerexa's lead compound, a broad-spectrum injectable antibiotic called ceftaroline acetate, is slated to begin Phase III clinical testing during the first quarter 2007. Forest said the drug could be on the market as early as 2010, if approved. As a result of the transaction, Forest plans to take a one-time after-tax charge of about 96 cents a share. Excluding the one-time after-tax charge, Forest said it still sees fiscal 2007 earnings per share coming in between $2.60 and $2.65. The deal is expected to close in Forest's fiscal fourth quarter.
Geron Corp. (NASDAQ:GERN - News) said it's agreed to sell common stock to institutional investors in a deal expected to yield gross proceeds of $40 million. The Menlo Park, Calif., biopharmaceutical company is selling the stock at $8 per share, compared to Wednesday's closing price at $9.34. The deal includes an over-allotment option for the sale of an additional $15 million worth of common stock at the same price per share, as well as longer term warrants, exercisable after 180 days, for the purchase of three million shares at an unspecified premium. Geron plans to use the proceeds to fund clinical trials and for regulatory activities.
Introgen Therapeutics Inc. (NASDAQ:INGN - News) said it has offered 4.99 million shares of its common stock. The Austin, Texas-based biopharmaceutical company said it expects to receive gross proceeds of about $24 million. Introgen said it expects to use net proceeds from the offering primarily for working capital and other general corporate purposes, including the development of its clinical programs which include Advexin, INGN 241 and its other programs.
Lehman Brothers (NYSE:LEH - News) said record investment-banking revenue helped propel fourth-quarter profit higher by 22%, surpassing Wall Street estimates, but earnings growth lagged rivals the record results from Goldman Sachs and Bear Stearns earlier this week.
Magellan Health Services (NASDAQ:MGLN - News) announced its financial guidance for fiscal 2007. The group said it sees earnings in the range of $1.67 to $2.04 a share on sales of $2.05 billion to $2.15 billion. Chief Executive Steven Shulman said the outlook reflects the group's view of the coming year as one of transition.
Netflix (NASDAQ:NFLX - News) was initiated with a sell rating at Banc of America Securities with a price target of $24.
Obagi Medical Products (NASDAQ:OMPI - News) shares fell in the company's initial public offering.
Pier 1 Imports Inc. (NYSE:PIR - News) posted a wider third-quarter loss, hurt by increased markdowns and higher marketing costs, but said sales of holiday merchandise have been encouraging.
Smith Micro Software (NASDAQ:SMSI - News) priced an offering of 4.5 million shares at $14.75 per share. The company has granted the underwriters an option to purchase up to an extra 675,000 shares to cover any over-allotments.
United Rentals (NYSE:URI - News) was downgraded to neutral from buy at UBS.
United Technologies (NYSE:UTX - News) backed its 2006 earnings outlook of $3.68 to $3.69 a share. Analysts polled by Thomson First call expect per-share earnings of $3.69. United Technologies also said its board approved a share repurchase program for up to 60 million shares worth about $4 billion at current prices.
Winnebago Industries Inc. (NYSE:WGO - News) said first-quarter net income for the three months ended Nov. 25 fell to $7.9 million, or 25 cents a share, from $14.6 million, or 44 cents a share in the year-ago period. Revenue dropped 13% to $201.8 million. Analysts surveyed by Thomson First Call forecast earnings of 31 cents a share and revenue of $210 million, on average. "While we remained solidly profitable, the motor home market continues to be challenging," said Winnebago Chairman and CEO Bruce Hertzke. "The first quarter of fiscal 2007 was negatively impacted by lower motor home deliveries, particularly of higher priced models in all of our product classes." The company said market conditions remain challenging. The Forest City, Iowa company also cited reluctance by dealers to increase inventory during the winter.

Labels: AGU, ALTI, ATEC, BECN, CHRD, DVR, ENCY, FRX, GERN, INGN, LEH, MGLN, NFLX, OMPI, PIR, SMSI, STST, UTX, WGO